NEM: What is it, and why is it skyrocketing?

[Blazin8888]

Whitepaper is very well written. Finished reading it today.  See here: http://nem.io/NEM_techRef.pdf

[rigel]

Whitepaper is very well written. Finished reading it today.  See here: http://nem.io/NEM_techRef.pdf

What does the white paper have to do with the issue being discussed here?
Satoshi's white paper is the answer to life, the universe and everything?

Nem whitepaper is the best response to the question "what is nem?"

As regards "why is it skyrocketing?" I really don't know.
Perhaps investors escaping from Eth are betting on it.
May be the news about real world financial institutions using Nem tech.
Someone with a lot of money manipulating market?
People buy Nem to profit from supernodes?
I only can say I always knew that it would have happened sooner or later.

[giggidy23]

Nem whitepaper is the best response to the question "what is nem?"

Lol, sorry, my mistake Didn't mean to be rude, thought this was another thread (where I did).
My bad, post deleted.
Sorry Blazin8888.

[nzminer]

XEM, is totally legit, and it really surprises me that the ones here who know about all the countless shitcoins dont know anything about NEM(XEM) yet it has been around for more than two hole years!

Not to mention that it was trading very cheap at one point and people had plenty of opportunity to buy.

But hey, dont take my word for it, do your own research and look into it for yourself.

The only reason that i can think XEM has little audience here is because its been heavily targeting the asian markets in Japan, that and they are going after serious investors and not people interested in pumping and dumping their worthless altcoins.

[iamnotback]

Whitepaper is very well written. Finished reading it today.  See here: http://nem.io/NEM_techRef.pdf

It is reasonably well written. And thus will give the impression that the coin is a significant and serious contender.

Except that it is all (or mostly) fluff and not substance. For example, Proof-of-Importance is just a way of repacking Proof-of-stake to fool investors:

https://bitcointalk.org/index.php?topic=1413819.msg15400658#msg15400658

Also they claim mass adoption goal, but can't explain why technically they should reach that goal:

https://bitcointalk.org/index.php?topic=1529039.msg15401240#msg15401240

Also I should say that I am not against NEM (they should continue developing it and they should have adequate funding by now so my words here shouldn't interfere with serious work), but the huge volume has to be fake and thus it is a manipulated pump (with dump to follow usually). Thus I think it is a valid activity for me to warn readers (share my perspective without berating on it incessantly) about the true innovation lacking in NEM as far as I can see. I asked them in the prior threads here, what significant innovation justifies the $100m mcap, and there was no valid response.

[d5000]

My guess is that NEM got high because of these reasons:

First, it was one of the top 10 coins at Coinmarketcap when the Ethereum rally terminated because of the DAO fail. Further, it was one of the coins that didn't have to do anything with the "Smart Contracts" and "DAO" buzzwords. Lisk, for example, was affected by Ethereum's decline because it has many similar properties.

Second, NEM does quite well with marketing. It may be debatable if Proof of Importance is a real innovation regarding to Proof of stake, but it sounds good in their whitepaper. I think that Proof of Importance does have some properties that are favouring some crypto business models (like marketplaces and gambling activities) that small altcoins need to grow. Also it seems to have a pretty successful side project (Mijin), a NEM fork for banks and other companies.

And last: I think there is simply so much "space" in the top coin list between the billion-dollar-marketcap cryptocurrencies Bitcoin and Ethereum and the rest that some investors may find opportunities in the coins in the "second tier" like NEM, NXT, Dash etc.; with these coins the risks are high but also the potential rewards if a real break-through in adoption is reached.

[iamnotback]

First, it was one of the top 10 coins at Coinmarketcap when the Ethereum rally terminated because of the DAO fail. Further, it was one of the coins that didn't have to do anything with the "Smart Contracts" and "DAO" buzzwords. Lisk, for example, was affected by Ethereum's decline because it has many similar properties.

You don't suddenly get 100X Monero's volume without a manipulator. Don't fool yourself with nonsense.

Second, NEM does quite well with marketing. It may be debatable if Proof of Importance is a real innovation regarding to Proof of stake, but it sounds good in their whitepaper. I think that Proof of Importance does have some properties that are favouring some crypto business models (like marketplaces and gambling activities) that small altcoins need to grow. Also it seems to have a pretty successful side project (Mijin), a NEM fork for banks and other companies.

There is no debate. Only n00bs who don't understand that there is no debate. I already explained the technical reason that PoI is just a way of doing PoS and fool some n00bs into thinking it is an innovation.

[Kuttingcorners]

i was lucky enough to be around when you got over 2 million nem for about 10 bux if i remember. Id like to thank all the generous ppl at nem for promoting the distribution on this forum and being cool guys because i was late on a few downloads and they still got me my coins (imagine how hard i would kick myself now) . Anyway i don't come on the forum much anymore but since I'm going to go pay rent with some nem i thought id come say thanks to the team.

[nzminer]

http://blog.nem.io/whats-the-difference-between-xem-btc-and-eth/