Can someone tell me bad things about NEM?

[JoaoNavarro]

Can someone tell me bad things about NEM?

[Spoetnik]

Like don't you even Google ? 

Here i will walk you through it..

- Open Google
- Type in "Bitcointalk NEM ANN"
- Read the first post topic / comment.

See how easy that is ?

And i know that works because i just so happen to have done that for NEM the other day.
Then i copied and pasted part of it on another NEM topic where guys were asking what it was about.

You guys need to learn how to Google shit.
And to be fair.. i doubt you ever cared anyway.
Since you all just trade 3 letter ASCII codes on Poloniex for profits then why would you look up the coin details ?

Hmm i wonder.. why would someone do that ?
And why would that be better than asking morons here for advice ?
HMMMM THESE ARE THE QUESTIONS !

[kubricktrader]

Like don't you even Google ? 

Here i will walk you through it..

- Open Google
- Type in "Bitcointalk NEM ANN"
- Read the first post topic / comment.

See how easy that is ?

And i know that works because i just so happen to have done that for NEM the other day.
Then i copied and pasted part of it on another NEM topic where guys were asking what it was about.

You guys need to learn how to Google shit.
And to be fair.. i doubt you ever cared anyway.
Since you all just trade 3 letter ASCII codes on Poloniex for profits then why would you look up the coin details ?

Hmm i wonder.. why would someone do that ?
And why would that be better than asking morons here for advice ?
HMMMM THESE ARE THE QUESTIONS !

A newbie account asks that kind of question and you fall for it? Pretty sure that makes you as dumb as them.

[Seville]

all i hear is good things about NEM

but bad things.. it might be over-speculated

[Denker]

With questions like this you will get so many different answers. And the majority will be positive as the invested people of course want to see that coin getting pumped even more.
Everybody here has an agenda going.
The best is you make your own research. Asking here for support or help is mostly a waste of time.
Welcome to crypto buddy!

[MMysterious]

Probably he just wanted to know more about NEM or he is new to the cryptoworld and asked why everyone is making a fuss about this coin and maybe he is thinking of trading and NEM is one of the coins he is eyeing for.

[cointabo]

Their algorithm POI (proof of importance), I think if it was so easy to implement and do-able, Vitalik Buterin (of Ethereum) would have already thought of it and implemented. I think POI is exploitable.

[dissident]

XEMs proof of importance is fairly robust though xtrabytes has something called proof of signature which to me seems like it would be even more secure but probably not as scalable (raw transactions per second) as nem.   XEM should be the bitcoin replacement.  Time will tell.

In NEM nodes are given a reputation rating where they can be blacklisted by other nodes for bad transactions and with xtrabytes all transactions are checked by all static nodes.

To be exploitable a person with nefarious intentions would have to control more than half the supernodes which would take a large number of xem at this point. I'm hoping they lower the supernode requirement at some point.  More supernodes, more secure.

[ArticMine]

The same fundamental flaw that exists with proof of stake and proof of service as in Dash, namely the network has no way of knowing if the 10,000 vested NEM are controlled by a nominee owner or a beneficial owner. https://en.wikipedia.org/wiki/Street_name_securities.

The assumption that the XEM are controlled by a person that has the best interests of the NEM network at heart is simply not true if they are controlled by a nominee owner. This is especially the case if the nominee owner is dishonest and runs a fractional reserve or some other short position. In the latter case the nominee owner will have a very powerful financial incentive to vote her NEM so as to maximize the disruption to the NEM network. This is the essence of the Second Pirate Savings and Trust attack I mentioned back in 2015. https://bitcointalk.org/index.php?topic=897488.msg10182752#msg10182752. Trendon Shavers did everything he could to crash the price of Bitcoin in early 2012 to no avail. So he ended up in jail. https://www.deepdotweb.com/2016/07/28/trendon-shavers-sentenced-18-month-prison-bitcoin-ponzi-scheme/. What saved Bitcoin from this attack was that it was proof of work. If Bitcoin had been proof of stake or proof of importance he also would have controlled a significant portion of the "hashrate" and could have use that "hashrate" to wreck havoc on the Bitcoin network. Another more recent example is Mark Karpelès. So we could also call this the Second MTGox attack.

Edit: The financial collapse in the fiat markets in 2008 was also caused by dishonest nominee owners gambling with other people's money in what is effectively a proof of stake system (One share one vote). Satoshi Nakamoto understood this very well which is why Bitcoin is proof of work .

[coynedterm]

Can someone tell me bad things about NEM?

In my opinion nothing is bad , because if any altcoin is looking some suscpisious then a discussion will came against it ,but still no thread made .
Here I would like to tell you that in the cryptocurrency , every thing is bad and everything is good , here we need only change thinking and ideas to use that particular coin for own profit .
Here if you have some doubts that you will get loss or anything other then I will suggest you to invest low amount of your Bitcoin in this altcoin . Because with the small amount of the investment you will never get fear to loss anything , but if the price get multiplied then surely you need to be happy .
Always follow the basic rules of the trading , never invest all of your money in the single altcoin , always invest your Bitcoin in 10-20 best altcoins at cheap price .

[Tash]

The same fundamental flaw that exists with proof of stake and proof of service as in Dash, namely the network has no way of knowing if the 10,000 vested NEM are controlled by a nominee owner or a beneficial owner. https://en.wikipedia.org/wiki/Street_name_securities.

The assumption that the XEM are controlled by a person that has the best interests of the NEM network at heart is simply not true if they are controlled by a nominee owner. This is especially the case if the nominee owner is dishonest and runs a fractional reserve or some other short position. In the latter case the nominee owner will have a very powerful financial incentive to vote her NEM so as to maximize the disruption to the NEM network. This is the essence of the Second Pirate Savings and Trust attack I mentioned back in 2015. https://bitcointalk.org/index.php?topic=897488.msg10182752#msg10182752. Trendon Shavers did everything he could to crash the price of Bitcoin in early 2012 to no avail. So he ended up in jail. https://www.deepdotweb.com/2016/07/28/trendon-shavers-sentenced-18-month-prison-bitcoin-ponzi-scheme/. What saved Bitcoin from this attack was that it was proof of work. If Bitcoin had been proof of stake or proof of importance he also would have controlled a significant portion of the "hashrate" and could have use that "hashrate" to wreck havoc on the Bitcoin network. Another more recent example is Mark Karpelès. So we could also call this the Second MTGox attack.

Edit: The financial collapse in the fiat markets in 2008 was also caused by dishonest nominee owners gambling with other people's money in what is effectively a proof of stake system (One share one vote). Satoshi Nakamoto understood this very well which is why Bitcoin is proof of work .

Someone knows his stuff, good info. Bookmarket.


When 4 million are given away for free to every sockpuppet common sense says it cant be good.

[Spoetnik]

Why thank you.. my reply WAS that good 
And yes i agree.. you all SHOULD do what i said and bookmark it.
You are welcome 

Hmmm why would someone read the ANN topic ? HMMMMMMMMMM  ? ROFL 

[Eebertay]

Why thank you.. my reply WAS that good 
And yes i agree.. you all SHOULD do what i said and bookmark it.
You are welcome 

Hmmm why would someone read the ANN topic ? HMMMMMMMMMM  ? ROFL 

Spoetnik,

Your posts and rebuttals are the best.

I actually only read bitcointalk to see your posts.

James