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

[hamiltino]

shit i need to brighten this thread up

[patmast3r]

Its going to be $10000 per stake or more I think.

10% between all the developers is more than fair.

Maybe Im wrong, but if im right, that 15% is going to do some serious damage when it comes to promotion.

Then its going to just turn into a snowball.

And that snowball is going to roll down the hill so damn fast its going to hit investors right in the face, and money is going to come flying out of their pockets!!

This is when NEM will have the momentum and the power to do something special and give the power back to the people.

NEM has the leadership, design, resources, community, and philosophy necessary to execute its plans. NEM actually has the chance to reach its goals. And those goals are groundbreaking, refreshing, and ambitious. NEM reaching those goals will change the world. There's more than $10,000 at stake!

10,000 per stake = 22BTC each.

22BTC * 4000 stakes = 88000BTC marketcap

Valuation = 40Million

You are saying it will have a market capitalization more than Dogecoin with their massive community.

That sounds way to optimisitic for a client that doesn't really add anything revolutionary to the table. (innovative yes)

Lets just settle at 10BTC per stake so we don't get disappointed.

What exactly are you refering to by "client" ? You do realize that NEM is about more than just a new fancy client right ?
Also who decides what is revolutionary ? In the end I guess history will decide but POI could very well be revolutionary - time will tell.

NXT has a similar market cap to DODGE so it's very possible that NEM can reach that as well.

No i am saying that their is no reason for the average bitcoiner to choose to use nem over bitcoin. Only way for that to happen imo is price stability. Also the average bitcoin user doesn't care if its POW. POS. POI only the technically minded care.

Hey i would love to see nem beat nxt, but just assuming it will creates expectations that can lead to disappointment.

You're right and I didn't want to raise eny big expectations.
However if we can get merchants to accept NEM and build a nice ecosystem for it I think we can attract even bitcoiners.
Merchants and the rest of the Ecosystem have to be one of the highest priorities and this is also a big part that the community can and will have to do.

[BitcoinForumator]

Lets just settle at 10BTC per stake so we don't get disappointed.

It all comes down to how high/low people end up placing their Asks...  CHOOSE WISELY!   

...I will be sitting on my hands the whole time...

That's right. Be an expensive hooker, don't sell cheap.

[juicejoyce]

be patient! guys, still wait for the final break.

[jxmhqjg]

Lets just settle at 10BTC per stake so we don't get disappointed.

+1，Too high expectations are unrealistic

[xtester]

Its going to be $10000 per stake or more I think.

10% between all the developers is more than fair.

Maybe Im wrong, but if im right, that 15% is going to do some serious damage when it comes to promotion.

Then its going to just turn into a snowball.

And that snowball is going to roll down the hill so damn fast its going to hit investors right in the face, and money is going to come flying out of their pockets!!

This is when NEM will have the momentum and the power to do something special and give the power back to the people.

NEM has the leadership, design, resources, community, and philosophy necessary to execute its plans. NEM actually has the chance to reach its goals. And those goals are groundbreaking, refreshing, and ambitious. NEM reaching those goals will change the world. There's more than $10,000 at stake!

10,000 per stake = 22BTC each.

22BTC * 4000 stakes = 88000BTC marketcap

Valuation = 40Million

You are saying it will have a market capitalization more than Dogecoin with their massive community.

That sounds way to optimisitic for a client that doesn't really add anything revolutionary to the table. (innovative yes)

Lets just settle at 10BTC per stake so we don't get disappointed.

What exactly are you refering to by "client" ? You do realize that NEM is about more than just a new fancy client right ?
Also who decides what is revolutionary ? In the end I guess history will decide but POI could very well be revolutionary - time will tell.

NXT has a similar market cap to DODGE so it's very possible that NEM can reach that as well.

No i am saying that their is no reason for the average bitcoiner to choose to use nem over bitcoin. Only way for that to happen imo is price stability. Also the average bitcoin user doesn't care if its POW. POS. POI only the technically minded care.

Hey i would love to see nem beat nxt, but just assuming it will creates expectations that can lead to disappointment.

Managing expectations is not bad, though I think we really are in a very fortunate situation at the moment.

Anyway, there are more reasons why the average bitcoiner would consider NEM, though NEM will arguably only compete with Bitcoin in the long run.

First we have to show we can conquer 1st place in the 2nd gen and altcoin league. After we make it clear that NEM is superior to any altcoin, we will inevitably go a level up. There

Things for which NEM could be the choice are the follwing:
1)Clear simplicity advantage and user friendliness compared to bitcoin and any other altcoin.
2)Increased efficiency and sustainability.
3)Ecosystem/utility

[mlwlxz]

I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.

Premine is the wrong term. There is no mining and since all coins are created at one point in time there is no "pre".
Who in their right mind would harm a project - by dumping - after putting in countless hours of their free time?

I plan to buy more NEM upon launch. That, and some MOON BOOTS.

+1，too，Very confident for the future of NEM

[MsCollec]

Lets just settle at 10BTC per stake so we don't get disappointed.

+1，Too high expectations are unrealistic

Maybe 1 btc per stake

[cupper5]

Lets just settle at 10BTC per stake so we don't get disappointed.

+1，Too high expectations are unrealistic

Overall picture. When bitcoin mkt. cap was over 10 billion it was still ridiculously low compared to money sloshing around in world markets.
When world markets start to come under serious pressure again the money inflows to crypto will be much bigger than before. Better quality crypto currencies to go to. If the developers Nem has are truly top class
 then Nem should compete with Btc. I expect to see at least 8 billion mkt cap for Nem in the next crisis.

Another point. Have sock puppets been refunded yet?

[Trollollo]

I don't know how the stakes will be sold in auction,but you can use https://crypto-auctions.com
Or devs making some auctions website for NEM?

[thuhyl]

Lets just settle at 10BTC per stake so we don't get disappointed.

+1，Too high expectations are unrealistic

Overall picture. When bitcoin mkt. cap was over 10 billion it was still ridiculously low compared to money sloshing around in world markets.
When world markets start to come under serious pressure again the money inflows to crypto will be much bigger than before. Better quality crypto currencies to go to. If the developers Nem has are truly top class
 then Nem should compete with Btc. I expect to see at least 8 billion mkt cap for Nem in the next crisis.

Another point. Have sock puppets been refunded yet?

at least 8 billion mkt cap for Nem in the next crisis？This is amazing！

[alex0909]

Lets just settle at 10BTC per stake so we don't get disappointed.

+1，Too high expectations are unrealistic

Overall picture. When bitcoin mkt. cap was over 10 billion it was still ridiculously low compared to money sloshing around in world markets.
When world markets start to come under serious pressure again the money inflows to crypto will be much bigger than before. Better quality crypto currencies to go to. If the developers Nem has are truly top class
 then Nem should compete with Btc. I expect to see at least 8 billion mkt cap for Nem in the next crisis.

Another point. Have sock puppets been refunded yet?

at least 8 billion mkt cap for Nem in the next crisis？This is amazing！

Stop being delusional, 10 btc per stake is plausible, in the next bubble.

8 billion market cap would take 3 years minimum.

[TaunSew]

Lets just settle at 10BTC per stake so we don't get disappointed.

+1，Too high expectations are unrealistic

Overall picture. When bitcoin mkt. cap was over 10 billion it was still ridiculously low compared to money sloshing around in world markets.
When world markets start to come under serious pressure again the money inflows to crypto will be much bigger than before. Better quality crypto currencies to go to. If the developers Nem has are truly top class
 then Nem should compete with Btc. I expect to see at least 8 billion mkt cap for Nem in the next crisis.

Another point. Have sock puppets been refunded yet?

at least 8 billion mkt cap for Nem in the next crisis？This is amazing！

Stop being delusional, 10 btc per stake is plausible, in the next bubble.

8 billion market cap would take 3 years minimum.

No it wouldn't.   BTC was only $5 in June 2012, Technically NxT was worth more than that back in February 2014..  It took NxT weeks to do what took Bitcoin years.

There's a lot more money in cryptos now than there was back in 09. - if a coin gained traction it would hit $10 billion and it wouldn't take 3 years, either.

The theoretical value of crypto currencies in the future is in the trillions, IIRC.  

[utopianfuture]

I don't know how the stakes will be sold in auction,but you can use https://crypto-auctions.com
Or devs making some auctions website for NEM?

We plan to use bitcoin blockchain + multi uniform auction. It would be very transparent that way.

[utopianfuture]

Lets just settle at 10BTC per stake so we don't get disappointed.

+1，Too high expectations are unrealistic

Overall picture. When bitcoin mkt. cap was over 10 billion it was still ridiculously low compared to money sloshing around in world markets.
When world markets start to come under serious pressure again the money inflows to crypto will be much bigger than before. Better quality crypto currencies to go to. If the developers Nem has are truly top class
 then Nem should compete with Btc. I expect to see at least 8 billion mkt cap for Nem in the next crisis.

Another point. Have sock puppets been refunded yet?

No refund has been made yet. Mostly because I am busy doing other things, but also because I am concerned about sending back btc, nxt to an exchange account. So maybe i will ask accounts to make refund request first.   

[utopianfuture]

We plan to use bitcoin blockchain...

Ouch.

why not use AE? just let people stick in buy orders.. and the highest buy order at the end of every hour wins a stake? transparent and fair.

It will be an auction. NXT AE is not an auction platform so it does not suit the purpose. I consider using NXT blockchain as well but none of NXT blockchain explorer support a real-time tracking of bids as good as Bitcoin blockchain.info. Besides, we need bitcoin to pay for independent audit, bug trackers etc.

[Anotheranonlol]

I don't know how the stakes will be sold in auction,but you can use https://crypto-auctions.com
Or devs making some auctions website for NEM?

We plan to use bitcoin blockchain + multi uniform auction. It would be very transparent that way.

Counterparty seems like a good fit wouldn't you think? Stake buy-ins will be linked to Bitcoin addresses for transparent auditing and occur ontop of bitcoin blockchain. A list of all holders can be shown, like this: http://blockscan.com/assetInfo.aspx?q=ROCKMINER

[utopianfuture]

We plan to use bitcoin blockchain...

Ouch.

why not use AE? just let people stick in buy orders.. and the highest buy order at the end of every hour wins a stake? transparent and fair.

It will be an auction. NXT AE is not an auction platform so it does not suit the purpose. I consider using NXT blockchain as well but none of NXT blockchain explorer support a real-time tracking of bids as good as Bitcoin blockchain.info. Besides, we need bitcoin to pay for independent audit, bug trackers etc.

ok. did you get my pm?

Tthat is a good idea. But it takes times to write the contract and everything so stay tuned.

[dwma]

I saw a post elsewhere on here (not this thread) where a guy defended NXT's unfairness claiming that the unfair aspect paid for the success.  I don't believe that is true.  While NEM is not totally "fair" either, it definitely is a lot closer to being "fair".  When people say NXT is unfair, they talk about the effort put forth into the initial distribution.  Most people are not concerned with premines or anything else, just the fact there were either 20ish or 73 stakeholds, depending on who you believe.  NEM will have at minimum 30x more stakeholders and likely 40-50x as many.  Thats a huge edge.

Regardless, this poster's point was the allocation allowed NXT to become what it is.  Utopian and Pat seem quite passionate about it and so I'm 100% happy for the devs to be in charge of 25-28%.  

If I might make a suggestion, try to make the wallets compatible with bitcoind forks or at the very least compatible with NXT.  I think the fact that NXT doesn't have multiple public keys hurts adoption.  (I might be wrong though)

[kuanglinliang]

How do you also in and so on and so on this coin?