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

[patmast3r]

Is Etherium really as revolutionary as this guy makes it out to be ? Can some of the more knowledgeable posters please enlighten me on how they are so much better than both NXT & NEM potentially ( since Etherium is yet to be released)

I think if Ethereum is really what it promises, it is that big of a deal.  

The way I see it is like this.  In the short term, it doesn't matter.  In the short term from a functionality perspective, they will all have the same functions.  The lead developer of Ethereum mentioned this in an interview recently.  Both will have multi-sig functions and asset exchanges and other key aspects.  Things that bitcoin simply can't do because its code is not designed for it.  So in this aspect, NXT has somewhat of a 1st mover bump.  

But.... Ethereum is designed basically to do anything and everything in the future, most of which hasn't been designed yet, or for that matter even thought of yet.  So, it is very possible that in 5 years, NXT will find itself in the "Bitcoin" situation of not being able to meet the needs of a new market.  A platform that was revolutionary and great at the time, but eventually limited for what it needs to do.  And then again.... maybe it won't.  Maybe it will prove very versatile and adaptable.  But I see a very long "blue-ray vs HD DVD" battle coming up between "Ethereum vs Ripple vs NXT" with honorable mention of NEM.  (and then trailing after that counterparty and bitshares)

Ethereum and NEM are late to the game, but both have advantages that if leveraged can really be a big factor.  Ripple and NXT are here now, both with advantages and disadvantages that makes them very polarized and hated/loved in the community.  It all depends on how bad their decisions are and how much NEM can monopolize their failings.  On top of that, NXT has already quasi-set a framework for NEM to follow.   This is not a bitcoin vs litecoin type of battle.  It is going to be much closer than that.  

One things for sure, NEM has the chance to be the people's 2.0 platform, but it will not be easy and we will really need to work as a community to make it happen.  

PS.  You asked for "knowledgeable" and well...... that probably isn't me, I am a newbie, but I thought I would give it a go. hahaha

Ethereum : impractical idea - no practical use cases
Ripple: outdated model - limited appeal
Mastercoin+ Counterparty: unsuitable foundation - limited functionality
Invictus Bitshare : fragmented products, lack a correct vision
Exo: dubious fundamental
Bitcoin: still great but the old King with new problems popping up everyday
NXT: XXXXXX
NEM: the 2015 King - best developers- best innovation - best vision - best community

Disclaimer: comments are with guaranteed objectivity as long as you understand there is no objectivity in forum writing.

I don't see how Ripple is outdated or has limited apeal.

[patmast3r]

Its funny how my mind makes pictures of people just out of forum names  

Utopian Future : my minds creates a  picture of a thirty something white guy with a ponytail and french beard  
Pat : a lanky German with spectacle and sandy hair
Jaguar : I automatically imagine a bare chested man with a leopard head  

Did I get it right lol

None of that is true   ...not even the part that I'm german Everyone just asumed that because I speak the language. Well maybe lanky isn't completely wrong.

[ashapasa]

I see Ripple more as a bank than altcoin, which is not a bad thing actually, centralization also establishes accountability. Unlike most people in this forum I like Ripple  . NEM is also a bit centralized, UP as promoter and then the Dev team and then the participants and this is good for coordination complete decentralization would be anarchy.

[patmast3r]

I see Ripple more as a bank than altcoin, which is not a bad thing actually, centralization also establishes accountability. Unlike most people in this forum I like Ripple  . NEM is also a bit centralized, UP as promoter and then the Dev team and then the participants and this is good for coordination complete decentralization would be anarchy.

Ripple isn't centralized. Anyone can run a server. Afaik the whole thing is open source as well.

[ashapasa]

well the investors and developers own most of ripple so its centralized in that sense, that is what I meant.

[freigeist]

Its funny how my mind makes pictures of people just out of forum names 

Utopian Future : my minds creates a  picture of a thirty something white guy with a ponytail and french beard 
Pat : a lanky German with spectacle and sandy hair
Jaguar : I automatically imagine a bare chested man with a leopard head 

Did I get it right lol

I know him  I have found him!
He is the KING

[ashapasa]

lol  uncanny. Jaguar subconsciously reminded me of a character in tekken.

[gimre]

Yes, isn't this the NXT whitepaper?

It's community effort (there's 250k NXT bounty for it), and at some points it's full of low-level details,
at others it misses things like differences in forging that were introduced... (and analysis of that)

Let me refrain from direct answer, here are some excerpts, I've bold some of them (mind the dates):

I am technical and articulate and have been slowly sifting through source code to understand things better, BUT I don't feel like I could field questions from cryptographers or software engineers without imploding.  I can talk about Nxt, and some of the challenges it faces, but the CfB-BCNext filter is a little too opaque to be useful for understanding the deep fundamentals (after only two months of this stuff, the exhaustion is overwhelming: "the source code is the whitepaper!", "community must decide", "Enigma!", "Tease!", "u are incorrect check thread for answers plz", "wait for third part of plan", "many riddles in the source if you look", etc.)

I'd say some nice things about Nxt, and then one guy would raise his hand and ask "can you explain the rationale behind basing a cryptocurrency on a mix of Curve25519, EC-KCDSA, and SHA-256 when no papers exist that assess the semantic security of that particular Diffie-Hellman key exchange algorithm, and it is has only traditionally been favoured for its calculation speeds?", and I would suddenly smell toast and collapse into an apoplectic heap, muttering "just ask Beyonce it all comes from Beyonce" and weeping.  THEN watch the price.

It's a real Catch-22.  Getting a chance to take part in a panel that would be included in the (always awesome and SO VALUABLE) Let's Talk Bitcoin podcast is *exquisite*, but the person to talk about the advent and future of metacoins is currently living in Belarus and busy until April.

MY VOTE would be for someone like wesley, ferment, opticalcarrier, rickyjames or ricot.

I think noone will be able to tell about Nxt. Only BCNext would but he can't due to obvious reason.

Nxt source code indeed is full of riddles and traps. For example, we can't run testnet with another genesis block coz we would definitely trigger some traps.

BCNext modified EC-KCDSA to inject a flaw (we r safe, don't worry) and to increase requirements to hardware Nxt wallets.

Also, it's impossible to write a whitepaper now, coz we haven't seen 2nd and 3rd parts of the plan yet.

If devs are to laizy to write the math and shemes down well what can we do.

in the white paper, we need the math, pictures and drawings about algo now.

so the only persons that can deliver here are the DEVs, we asked over and over but no reaction.

with all respect, maybe BCNext should do this!

Pin

Only BCNext can do that, the other devs don't have enough info about future TF properties.

Can you politly ask him to write something down? we NEED this desperatly !

Asked ages ago, his position sounds like that (my wording):

Satoshi's whitepaper has never been critically reviewed. This led to the situation when serious problems like Centralization, Selfish Mining, etc. were revealed too late. More problems will arise in the future (Huge Fees, Ecological Catastrophe). By refusing to write the whitepaper BCNext forces us to analyze Nxt concept as deep as possible.

[TauMuon]

Its funny how my mind makes pictures of people just out of forum names 

Utopian Future : my minds creates a  picture of a thirty something white guy with a ponytail and french beard 
Pat : a lanky German with spectacle and sandy hair
Jaguar : I automatically imagine a bare chested man with a leopard head 

Did I get it right lol

I know him  I have found him!
He is the KING

That made me chuckle. This is how I chose to imagine Jaguar from now on. 

[arctickmoon]

I have .2bc and looking to buy some nem when its released. Please message me if anyone is looking to sell.

[TauMuon]

Here's the poll results I spoke about concerning everyone's preference for GUI or Web clients:



A desktop client/wallet was hugely preferred. Admittedly a sample size of 16 people isn't statistically significant, but it's something to think about. There's a discussion about it in the thread on the forum.

[ashapasa]

Bitcoin wallet is easier to install I would prefer it for this reason.

[j23a]

Can't it have both?

Personally I just rather have something portable that doesn't require installation.

[ChuckOne]

Another thing I would like to suggest for NEM is that the addresses have checksums. NXT does not have this.
It makes it safer if a user mistypes or doesn't copy an address properly.

It think the new Nxt address type does have it.

[Simakki]

Client have to be easily accessible, meaning that general people could adopt and use it. Notebooks and desktop computers aint nowadays even used in every household, i know many folks who just mainly use their tablets and smartphones. I dont know about rest of the world, but in Finland banks have very sophisticated clients/internetbanks and with all the NFC and other mobile payments systems, competition is fierce.
Certainly NEM have to be better than those systems of we want to create complete currency system/finance platform.

[Parana]

Can't it have both?

Personally I just rather have something portable that doesn't require installation.

Me.Too (   )

instalation sucks.... and windows become slower than it already is over time...

[Spider]

Client have to be easily accessible, meaning that general people could adopt and use it. Notebooks and desktop computers aint nowadays even used in every household, i know many folks who just mainly use their tablets and smartphones. I dont know about rest of the world, but in Finland banks have very sophisticated clients/internetbanks and with all the NFC and other mobile payments systems, competition is fierce.
Certainly NEM have to be better than those systems of we want to create complete currency system/finance platform.

We definitely shouldn't forget about smartphone users here. It's a vast and growing market.

[shaman2000]

Hi Friends!

Is there any good news about our lovely coins? I didn't see our forum for few days...


Cheers

[shaman2000]

Client have to be easily accessible, meaning that general people could adopt and use it. Notebooks and desktop computers aint nowadays even used in every household, i know many folks who just mainly use their tablets and smartphones. I dont know about rest of the world, but in Finland banks have very sophisticated clients/internetbanks and with all the NFC and other mobile payments systems, competition is fierce.
Certainly NEM have to be better than those systems of we want to create complete currency system/finance platform.

We definitely shouldn't forget about smartphone users here. It's a vast and growing market.

+1000

[edok]

Client have to be easily accessible, meaning that general people could adopt and use it. Notebooks and desktop computers aint nowadays even used in every household, i know many folks who just mainly use their tablets and smartphones. I dont know about rest of the world, but in Finland banks have very sophisticated clients/internetbanks and with all the NFC and other mobile payments systems, competition is fierce.
Certainly NEM have to be better than those systems of we want to create complete currency system/finance platform.

We definitely shouldn't forget about smartphone users here. It's a vast and growing market.

+1000

I would 100% prefer a web wallet. More accessible for the general public who is used to simply logging in. Who downloads things anymore?