F2b
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February 01, 2018, 06:45:46 AM Last edit: February 01, 2018, 09:37:44 PM by F2b |
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2. Denomination: instead of 1 NET -> 0.1 NIMIQ it will be 1 NET -> 100 NIMIQ. Total supply will be 21 billion NIMIQ instead of 21 million.
Good thing! I'm still wondering "why not a 1:1 conversion?" but anyway...
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freigeist
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February 01, 2018, 12:29:08 PM |
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Two important pieces of information came out: 1. KYC mandatory for the NET -> NIMIQ conversion 2. Denomination: instead of 1 NET -> 0.1 NIMIQ it will be 1 NET -> 100 NIMIQ. Total supply will be 21 billion NIMIQ instead of 21 million.
Release of the mainnet is still pencilled in for Q1 2018. Before that, there will be another update to the testnet.
The number 1. is total turnoff
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Wekkel
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Merit: 1531
yes
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February 01, 2018, 04:53:16 PM |
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The market seems to agree with you
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OnTheMoon
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February 01, 2018, 05:09:54 PM |
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Two important pieces of information came out: 1. KYC mandatory for the NET -> NIMIQ conversion 2. Denomination: instead of 1 NET -> 0.1 NIMIQ it will be 1 NET -> 100 NIMIQ. Total supply will be 21 billion NIMIQ instead of 21 million.
Release of the mainnet is still pencilled in for Q1 2018. Before that, there will be another update to the testnet.
The number 1. is total turnoff This is necessary in order to be able to get into the major american exchanges like bittrex. I think that Nimiq listing on the big exchanges will be good for us all. Better to understand it.
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teedeexyz
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Activity: 74
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February 01, 2018, 05:14:35 PM |
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Two important pieces of information came out: 1. KYC mandatory for the NET -> NIMIQ conversion 2. Denomination: instead of 1 NET -> 0.1 NIMIQ it will be 1 NET -> 100 NIMIQ. Total supply will be 21 billion NIMIQ instead of 21 million.
Release of the mainnet is still pencilled in for Q1 2018. Before that, there will be another update to the testnet.
Anything concrete yet the conversion? Also: I'm concerned about giving personal information and ID to a party I don't know and is not a well known well secured exchange. Glad I didn't buy NET yet.
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metallicelmo
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February 01, 2018, 10:20:03 PM |
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Good news! I see no problem in KnowYourCustomer myself. If that is what it takes to get the final product fine..
The change from 21 million to 21 billion is also a great idea. Same overall value but easier to use when aiming to become a globally used crypto. Otherwise one Nimiq might become so expensive that you always end up paying with 0,004 etc. That feels weird. In this case more coinsupply is better for transactions. I like everything about this project.
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khungcuaso11
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February 03, 2018, 11:21:04 PM |
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Looks a promising project. I Interesting in this project. Algorithm: Digital Signing Ed25519, how it works. What are its advantages?
Wishing project success!
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abdulaziz07
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February 04, 2018, 06:13:18 PM |
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Does it makes sense to go with 1NET = 100 NIM i mean earlier allocation was much better, increase in supply will affect price
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Scooby903
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February 05, 2018, 08:05:39 AM |
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Any updates on being able to go from NET -> NIM in the US once mainnet launches?
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teedeexyz
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February 05, 2018, 10:34:00 PM |
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Any updates on being able to go from NET -> NIM in the US once mainnet launches?
I might hope the conversion is not limited to US residents only
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altcoiner555
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February 06, 2018, 02:00:18 PM |
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Any updates on being able to go from NET -> NIM in the US once mainnet launches?
I might hope the conversion is not limited to US residents only US residents cannot convert. Read the latest blog.
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rendravolt
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February 06, 2018, 02:39:09 PM |
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I really hope the main net launches soon and nimiq will be a huge success will be a long term holder
If you want to be a long time holder you don't need to be concerned about the main net launching soon But I know its tempting to see all green in the portfolio But many panicked holder, does not mean it's all very safe, all have also been hooked dumper strain, to return to the portfolio was a long time to be sure.
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somewhan
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February 06, 2018, 11:56:02 PM |
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Some might have been annoyed that KYC will be required to exchange NET to NIM.
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IMZ
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February 07, 2018, 02:06:00 AM |
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Two important pieces of information came out: 1. KYC mandatory for the NET -> NIMIQ conversion 2. Denomination: instead of 1 NET -> 0.1 NIMIQ it will be 1 NET -> 100 NIMIQ. Total supply will be 21 billion NIMIQ instead of 21 million.
Release of the mainnet is still pencilled in for Q1 2018. Before that, there will be another update to the testnet.
Anything concrete yet the conversion? Also: I'm concerned about giving personal information and ID to a party I don't know and is not a well known well secured exchange. Glad I didn't buy NET yet. Whoa! Just 'KYC mandatory' doesn't cut it! Okay, I got my NET as part of a group buy-in, so it's my lack of due diligence that got me here -- but it's also the case that the information on this project has been presented poorly. So: 'We may determine . . . that it is necessary to obtain certain information . . . ' [ https://nimiq.com/terms/ ] This is fair enough for the early stages; but I've never heard of a dev team requiring KYC -- to trade on centralised exchanges, yes; but to own a crypto? No. And I feel the following is disingenuous: '[KYC] only applies to the replacement of NET for NIM.' Once you've got out data, you've got our data . . . My inclination is to sell my holdings forthwith. Goodness, I hope I've misinterpreted something here. What is 'KYC'? What data? Held by whom? Under what security protocols? For how long?
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ccs5tt
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February 07, 2018, 09:04:04 AM |
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So if I hold NET and I am from the USA I will be shit out of luck? As in sorry I just lose my investment? Can someone please let me know whats up. Thanks
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IMZ
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February 07, 2018, 12:37:34 PM |
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So if I hold NET and I am from the USA I will be shit out of luck? As in sorry I just lose my investment? Can someone please let me know whats up. Thanks
Hey, cc 'Based on the changing regulatory environment, our legal counsel has driven us to require this KYC process (anticipated in the NET Creation Terms). This goes along with the same restrictions regarding sanction lists, politically exposed persons, as well as restrictions for certain jurisdictions (ie. USA) as previously experienced during the NET Contribution Process. This will permit the Nimiq project as a whole to maximize probability to comply with regulations in various jurisdictions and thus support the underlying factors regarding Nimiq mainstream adoption in the future.' https://medium.com/nimiq-network/roadmap-to-mainnet-ee557efd74d4
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mrhans
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February 07, 2018, 03:53:03 PM |
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So if I hold NET and I am from the USA I will be shit out of luck? As in sorry I just lose my investment? Can someone please let me know whats up. Thanks
Hey, cc 'Based on the changing regulatory environment, our legal counsel has driven us to require this KYC process (anticipated in the NET Creation Terms). This goes along with the same restrictions regarding sanction lists, politically exposed persons, as well as restrictions for certain jurisdictions (ie. USA) as previously experienced during the NET Contribution Process. This will permit the Nimiq project as a whole to maximize probability to comply with regulations in various jurisdictions and thus support the underlying factors regarding Nimiq mainstream adoption in the future.' https://medium.com/nimiq-network/roadmap-to-mainnet-ee557efd74d4Why do we need kyc? I don't understand that, the sale is already finished and you are just giving everyone with tokens in one account an equivalent in nimiq, there is no new value that gets generated etc.
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ccs5tt
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February 07, 2018, 08:12:38 PM |
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So if I hold NET and I am from the USA I will be shit out of luck? As in sorry I just lose my investment? Can someone please let me know whats up. Thanks
Hey, cc 'Based on the changing regulatory environment, our legal counsel has driven us to require this KYC process (anticipated in the NET Creation Terms). This goes along with the same restrictions regarding sanction lists, politically exposed persons, as well as restrictions for certain jurisdictions (ie. USA) as previously experienced during the NET Contribution Process. This will permit the Nimiq project as a whole to maximize probability to comply with regulations in various jurisdictions and thus support the underlying factors regarding Nimiq mainstream adoption in the future.' https://medium.com/nimiq-network/roadmap-to-mainnet-ee557efd74d4Ok so what is suggested I do with my tokens? Sounds like I just lose them?
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metallicelmo
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February 07, 2018, 11:18:36 PM |
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Not really sure how that would work but I'm sure you're not the only one so people should be able to find a way I think
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