[NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread

[TauMuon]

Our initial plan was to base NEM on the NXT code, which is why there are two versions of the NXT code in the repository. However, this project garnered a really large amount of interest and we have more dev resources than I expected. At this time, it is the consensus of the dev team to base NEM on some of the NXT ideas but write the code from scratch. While this will take a little more time and effort now, I think it will set up NEM much better in the long run.

The goal is not for NEM to be a NXT copy and paste coin. IMO, there's no value in that. With NEM, we want to take some of the best ideas of NXT and Bitcoin and create something new and, hopefully, better.

My only criticisms of writing the code from scratch are:
(a) Won't be as well tested and stable as a NXT clone.
(b) May cause people to lose interest and NEM to lose momentum if it takes too long to complete.

But other than that, it's a great idea!

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[makoto1337]

Nice post yurkomik. I like your ideas very much, I too think we need a market where we can trade/buy real goods with NEM. Without a proper market, NEM is just another dead coin in the long-run( 1 yrs?)  

As of this moment, two events are likely to happen with the release of NEM
Scenario 1: NEM gets released, people start to rush to dump their coins to make a quick buck leading to a dead cypto.
Scenario 2: Most people hoard their coins for forging, unintentionally  artificially inflating price ( NXT?) but susceptible to big price volatility with the smallest trade activity,rendering the currency useless.

Money was created to facilitate trade between goods and services, with cryptos we are creating money without goods and services. 99% of all alt currencies will be dead in a year all due to lack of a market, lets make NEM the exception to the rule. We really do need participants for this experimental currency to succeed not silent stake holders.

Let me be one of the first to volunteer , My name is Pasang I own a small hotel in Bhutan. I could offer my rooms in NEM but since most of u guys are probably not in my locality it would be pointless, instead I would be willing to post 10 items for sale every month for sale priced in NEM on its release for the next four months to get the ball rolling.

I hope more of you will join me in this endeavor, We are all potential NEM coin millionaires and now it is up to us to make this million actually worth a million or just worthless digital numbers.  
 

We have been bouncing around ideas to create a market structure for real goods. One of the problems is that of trust. There has to be a mechanism for feedback for both the buyer and seller, that is built into the system. I hope to include something like this for NEM in the future.

[Brainofmasses]

Hey Nem´s!

Watching the development of NEM from the far first day and must say that Im really impressed!

Keep up the good work! Alltough there are allways stones in your way, but hey problems are here to get solved, otherwise you wouldn´t be in that forum and developing an alternative. The distribution is so far the best I´ve seen for my own, also if there are a lot of suckpuppets.

I hope the team reaches the goal to makes our world a "bit" better.(Maybe also a good model for a slogan)
Let us hope that money isn´t a thing of need, in future centuries, and dividing us like we it know today. To make real progress possible, like bringing us into the real far space, in a technically and ethically way, which is all two far away, for now and through our behaving as a civilization.

I think its quiet interesting that SHA-3 is used, like in Copperlark. Means this that the network will be secured only through GPU/CPU or will you also include in some way Asics? And if not, how Asic resistant is SHA3?

And I read somewhere that a name for the NEM satoshis is searched, why not "futures", alltough this gets a chance to getting mistaken with bourse futures, OP brought thing into rolling.

[makoto1337]

Your patience is rewarded. Please find a link to the official NEM development document here: https://docs.google.com/document/d/1NhxTyi4Eo2D_1m1Ca8zvzQr0_RB0dgM2VuWXAIzcS-I. A few sections are still in flux (they are marked with TODOs), but are being worked on at the moment.

I will be monitoring this thread and comments in the document for feedback.

Thanks a lot for the update !

Would POI not further encourage hoarding ?
If a node is more important if it has had more NEMs for a longer amount of time then everyone will try to keep their NEMs at one place right ?
Also - Will Server nodes be more important then client notes simply by their nature ? I think they should be.
I'm may be missundestanding something about POI so please enlighten me

Did I miss it or is there no Alias-System in there ?
Is transparent forging going to be there ?

Keep up the good work !

POI would encourage people to spend NEM because just hoarding will not link your account to others. POI considers not only the amount of NEM (as in POS), but also considers the structure of the transaction graph. Thus nodes that are structurally important to the health of the network get a higher reward.

Thus POI is kind of in-between POS and PON. If you have only POS, no one will spend. If you have only PON or only consider links between nodes, then people could game the system. By requiring that people have NEM (have a stake in the system) and use NEM (send NEM to other accounts and receive NEM from other accounts), POI promotes using the currency. Now, it might sound like someone could just send a bunch of NEM around in a loop and make their account big, but the coin-days limit prevents that, as well as the fact that only sending NEM in a loop will not make your account(s) more important, because importance will be conserved within a loop. You'll need to actually transact with others in order to make your account important to the NEM economy.

[makoto1337]

Hey Nem´s!

Watching the development of NEM from the far first day and must say that Im really impressed!

Keep up the good work! Alltough there are allways stones in your way, but hey problems are here to get solved, otherwise you wouldn´t be in that forum and developing an alternative. The distribution is so far the best I´ve seen for my own, also if there are a lot of suckpuppets.

I hope the team reaches the goal to makes our world a "bit" better.(Maybe also a good model for a slogan)
Let us hope that money isn´t a thing of need, in future centuries, and dividing us like we it know today. To make real progress possible, like bringing us into the real far space, in a technically and ethically way, which is all two far away, for now and through our behaving as a civilization.

I think its quiet interesting that SHA-3 is used, like in Copperlark. Means this that the network will be secured only through GPU/CPU or will you also include in some way Asics? And if not, how Asic resistant is SHA3?

And I read somewhere that a name for the NEM satoshis is searched, why not "futures", alltough this gets a chance to getting mistaken with bourse futures, OP brought thing into rolling.

NEM isn't secured by proof-of-work, so I don't think ASICs are an issue.

For the name of the basic unit of NEM, I propose the "nakamoto." Satoshi Nakamoto created this whole world, and it would be good to recognize that. Also, Nakamoto can be written as 中元 in Japanese (among other ways of writing it). This basically means 中国元, or "Chinese currency." So I think it is a name that could appeal to a larger audience, while still keeping the cyber-/cypher-punk roots.

To be clear, I think 1 NEM should be called 1 NEM. 1 micro-NEM should be called 1 nakamoto.

[utopianfuture]

Hey Nem´s!

Watching the development of NEM from the far first day and must say that Im really impressed!

Keep up the good work! Alltough there are allways stones in your way, but hey problems are here to get solved, otherwise you wouldn´t be in that forum and developing an alternative. The distribution is so far the best I´ve seen for my own, also if there are a lot of suckpuppets.

I hope the team reaches the goal to makes our world a "bit" better.(Maybe also a good model for a slogan)
Let us hope that money isn´t a thing of need, in future centuries, and dividing us like we it know today. To make real progress possible, like bringing us into the real far space, in a technically and ethically way, which is all two far away, for now and through our behaving as a civilization.

I think its quiet interesting that SHA-3 is used, like in Copperlark. Means this that the network will be secured only through GPU/CPU or will you also include in some way Asics? And if not, how Asic resistant is SHA3?

And I read somewhere that a name for the NEM satoshis is searched, why not "futures", alltough this gets a chance to getting mistaken with bourse futures, OP brought thing into rolling.

NEM isn't secured by proof-of-work, so I don't think ASICs are an issue.

For the name of the basic unit of NEM, I propose the "nakamoto." Satoshi Nakamoto created this whole world, and it would be good to recognize that. Also, Nakamoto can be written as 中元 in Japanese (among other ways of writing it). This basically means 中国元, or "Chinese currency." So I think it is a name that could appeal to a larger audience, while still keeping the cyber-/cypher-punk roots.

Does it make sense to call it na or naka ? Nakamoto is a bit long for everyday use. How much is this ? 5 naka.

[makoto1337]

Nakamoto is a bit long, I will admit, but it is only 1 syllable more than satoshi.
Naka could work as well. This would just be 中. This is also the short country name of China (中国). 中 could be the currency symbol. It is already in unicode...

新 means "new" and is pronounced the same in Chinese and Japanese (xin/shin). That character is also in unicode!!

[gramufibus]

The goal is not for NEM to be a NXT copy and paste coin. IMO, there's no value in that. With NEM, we want to take some of the best ideas of NXT and Bitcoin and create something new and, hopefully, better.

Wow that is amazing and exiting news to me.  I'm not knocking nxt but the chance to rewrite the rules offers so much. 
I have a question which might be a dumb one so I apologise in advance if so.  I like the way nxt is different than mined coins, but it is a common criticism, though I think "pre-mine" is an incorrect term. 
Is there any way... that without disrupting nem's initial distribution, that it could be made more appealing to the coin miners?  Perhaps adopt a model that is based on nodes on the network, versus amount of nem held?
I'm thinking of this purely in terms of what could make nem a more sucessfull currency.  And I'll admit I know little of what I'm talking about.

[Brainofmasses]

Hey Nem´s!

Watching the development of NEM from the far first day and must say that Im really impressed!

Keep up the good work! Alltough there are allways stones in your way, but hey problems are here to get solved, otherwise you wouldn´t be in that forum and developing an alternative. The distribution is so far the best I´ve seen for my own, also if there are a lot of suckpuppets.

I hope the team reaches the goal to makes our world a "bit" better.(Maybe also a good model for a slogan)
Let us hope that money isn´t a thing of need, in future centuries, and dividing us like we it know today. To make real progress possible, like bringing us into the real far space, in a technically and ethically way, which is all two far away, for now and through our behaving as a civilization.

I think its quiet interesting that SHA-3 is used, like in Copperlark. Means this that the network will be secured only through GPU/CPU or will you also include in some way Asics? And if not, how Asic resistant is SHA3?

And I read somewhere that a name for the NEM satoshis is searched, why not "futures", alltough this gets a chance to getting mistaken with bourse futures, OP brought thing into rolling.

NEM isn't secured by proof-of-work, so I don't think ASICs are an issue.

For the name of the basic unit of NEM, I propose the "nakamoto." Satoshi Nakamoto created this whole world, and it would be good to recognize that. Also, Nakamoto can be written as 中元 in Japanese (among other ways of writing it). This basically means 中国元, or "Chinese currency." So I think it is a name that could appeal to a larger audience, while still keeping the cyber-/cypher-punk roots.

To be clear, I think 1 NEM should be called 1 NEM. 1 micro-NEM should be called 1 nakamoto.

Making things easier, and something effectiv against botnets?

Very Interesting! Haha wondering what was his thoughts to give a currency a chinese name in a japanese language, correlation with the historically not so good longterm relationship between these two? I also honoring the chinese tradition and development of relation to money, exactly the opposite of what the western societies life in. Debts was not seen that nice in historic china.

A NEM is a NEM no differences in opinion on that, Nakamoto would be good PR atleast but im unsure, but I can life with that what the most can life with.

[utopianfuture]

Nakamoto is a bit long, I will admit, but it is only 1 syllable more than satoshi.
Naka could work as well. This would just be 中. This is also the short country name of China (中国). 中 could be the currency symbol. It is already in unicode...

新 means "new" and is pronounced the same in Chinese and Japanese (xin/shin). That character is also in unicode!!

I like Naka so while we pay a homeage to Satoshi Nakamoto it is somewhat different from bitcoin's naming tradition. We could have the currency symbol at the same time. One stone kills two birds.

So 1 NEM= 1 bitcoin; 1 naka= 1satoshi.

[Scooby Dooby Doo]

I am not in NEM stakeholder list. It´s fraud. NEM is scam.   I believed in it.

[utopianfuture]

The goal is not for NEM to be a NXT copy and paste coin. IMO, there's no value in that. With NEM, we want to take some of the best ideas of NXT and Bitcoin and create something new and, hopefully, better.

Wow that is amazing and exiting news to me.  I'm not knocking nxt but the chance to rewrite the rules offers so much.  
I have a question which might be a dumb one so I apologise in advance if so.  I like the way nxt is different than mined coins, but it is a common criticism, though I think "pre-mine" is an incorrect term.  
Is there any way... that without disrupting nem's initial distribution, that it could be made more appealing to the coin miners?  Perhaps adopt a model that is based on nodes on the network, versus amount of nem held?
I'm thinking of this purely in terms of what could make nem a more sucessfull currency.  And I'll admit I know little of what I'm talking about.

Miners's main activities are mining and selling what they mine, of course they are verifying transaction and protecting the network. But in my POV, the way POW coins have been dominated by mining industry is one of its main weakness. A self-sufficient network would be more sustainable in the long-run since the all the accounts/ nodes within the network verify transactions and protect the network themselves without resorting to an external party such as the mining industry and that would reduce the the cost of operating the network noticeably.  

I have some more explanations here https://bitcointalk.org/index.php?topic=426303.msg5017477#msg5017477 on why NEM has started the way it was.

Miners are of course welcome to join NEM by selling their mined coins and send in the relatively low fee. In the future, there may be a fund set aside to support the node infrastructure of NEM network.

[sfinder]

naka is very nice and easy to speak out

Nakamoto is a bit long, I will admit, but it is only 1 syllable more than satoshi.
Naka could work as well. This would just be 中. This is also the short country name of China (中国). 中 could be the currency symbol. It is already in unicode...

新 means "new" and is pronounced the same in Chinese and Japanese (xin/shin). That character is also in unicode!!

I like Naka so while we pay a homeage to Satoshi Nakamoto it is somewhat different from bitcoin's naming tradition. We could have the currency symbol at the same time. One stone kills two birds.

So 1 NEM= 1 bitcoin; 1 naka= 1satoshi.

[j23a]

I am not in NEM stakeholder list. It´s fraud. NEM is scam.   I believed in it.

I checked your post. You posted pictures rather than buy a stake with NXTs or Bitcoins. You have to buy your share.

[dbgirl]

One the NEM designs looks similar to a drum logo.
source:
http://mccartneyphoto.blogspot.com/2014/01/the-night-that-changed-america-grammy.html

http://1.bp.blogspot.com/-qyZZWH51iuU/UugQLDpTWNI/AAAAAAAAVR8/6SQOzVdpfiU/s1600/g5+(11).jpg

[Jaguar0625]

The goal is not for NEM to be a NXT copy and paste coin. IMO, there's no value in that. With NEM, we want to take some of the best ideas of NXT and Bitcoin and create something new and, hopefully, better.

Wow that is amazing and exiting news to me.  I'm not knocking nxt but the chance to rewrite the rules offers so much. 
I have a question which might be a dumb one so I apologise in advance if so.  I like the way nxt is different than mined coins, but it is a common criticism, though I think "pre-mine" is an incorrect term. 
Is there any way... that without disrupting nem's initial distribution, that it could be made more appealing to the coin miners?  Perhaps adopt a model that is based on nodes on the network, versus amount of nem held?
I'm thinking of this purely in terms of what could make nem a more sucessfull currency.  And I'll admit I know little of what I'm talking about.

The idea behind both PON and POI is to reward nodes that contribute the most to the NEM network. PON rewards the number of nodes (exactly what you're describing). POI takes it one step further and gives preference to active nodes.

I don't know if we really need to do more to attract POWers. Many don't like any type of coin that is not 100% mined. On the other hand, we could always hold back a small percentage of the initial distribution as a reserve and distribute it somehow (e.g. to miners, via a faucet, via a lottery, or via more fundraising). I don't know any of these are good ideas. I'm just brainstorming and throwing out ideas. Personally, I think we have a pretty strong community already and probably don't need to make a huge effort attracting POWers.

[xtester]

Hey Nem´s!

Watching the development of NEM from the far first day and must say that Im really impressed!

Keep up the good work! Alltough there are allways stones in your way, but hey problems are here to get solved, otherwise you wouldn´t be in that forum and developing an alternative. The distribution is so far the best I´ve seen for my own, also if there are a lot of suckpuppets.

I hope the team reaches the goal to makes our world a "bit" better.(Maybe also a good model for a slogan)
Let us hope that money isn´t a thing of need, in future centuries, and dividing us like we it know today. To make real progress possible, like bringing us into the real far space, in a technically and ethically way, which is all two far away, for now and through our behaving as a civilization.

I think its quiet interesting that SHA-3 is used, like in Copperlark. Means this that the network will be secured only through GPU/CPU or will you also include in some way Asics? And if not, how Asic resistant is SHA3?

And I read somewhere that a name for the NEM satoshis is searched, why not "futures", alltough this gets a chance to getting mistaken with bourse futures, OP brought thing into rolling.

NEM isn't secured by proof-of-work, so I don't think ASICs are an issue.

For the name of the basic unit of NEM, I propose the "nakamoto." Satoshi Nakamoto created this whole world, and it would be good to recognize that. Also, Nakamoto can be written as 中元 in Japanese (among other ways of writing it). This basically means 中国元, or "Chinese currency." So I think it is a name that could appeal to a larger audience, while still keeping the cyber-/cypher-punk roots.

Does it make sense to call it na or naka ? Nakamoto is a bit long for everyday use. How much is this ? 5 naka.

I think naka is fine too. Alternatively we could call it utopian.

[WildCats]

Nakamoto is a bit long, I will admit, but it is only 1 syllable more than satoshi.
Naka could work as well. This would just be 中. This is also the short country name of China (中国). 中 could be the currency symbol. It is already in unicode...

新 means "new" and is pronounced the same in Chinese and Japanese (xin/shin). That character is also in unicode!!

I like Naka so while we pay a homeage to Satoshi Nakamoto it is somewhat different from bitcoin's naming tradition. We could have the currency symbol at the same time. One stone kills two birds.

So 1 NEM= 1 bitcoin; 1 naka= 1satoshi.

I like naka too.  Satoshi is too long a name for common use and is also too small a value to have any practical relevance (1 BTC = 100,000,000 satoshis) but 1 NEM SHOULD NOT = 100,000,000 naka.  It is very important to have a unit that has a useful value that is not too high so you are using a bunch of decimals but is not so low like a satoshi. 1 NEM = 1000 naka?

[WildCats]

I don't know if we really need to do more to attract POWers. Many don't like any type of coin that is not 100% mined. On the other hand, we could always hold back a small percentage of the initial distribution as a reserve and distribute it somehow (e.g. to miners, via a faucet, via a lottery, or via more fundraising). I don't know any of these are good ideas. I'm just brainstorming and throwing out ideas. Personally, I think we have a pretty strong community already and probably don't need to make a huge effort attracting POWers.

What about saving some NEM to set up a "World Community Grid" team and distribute based on points?  Similar to the faucet that Ripple uses.  I think people can feel good that they are not just doing pointless calculation, they are helping society, it is also very ASIC resistant.  It also gives people a chance to get NEM without just paying for them, I think this can be easier for people new to crypto rather than buying coins.  And if the coin goes to zero they can still feel like they did something positive and didn't pay someone or get "scammed".

[Kmonk]

4 Billion is less than 1 NEM per person in the world.  IF we want to make a currency that people can imagine being used all over the world there should be more than 4 Billion.

Thanks

Only about 10% of the worlds population has access to connected computers so the figure would be more accurately represented as approx 5.71428571 NEM per person!