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

[khitan]

will NEM released in June? It seems great.

[1714898936]

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[TaunSew]

Not sure why people think marketcap is so important, until I can buy a product with NEM (online or pos) I don't care if market cap is one million or hundred million. If NEM works and we can get it in the hands of average joe then to me that's when the real market cap starts. The way I see it, right now NEM is just a commodity and not a currency which is what I will be working hard to do.

To constitute being a currency then it's literally the chicken before the egg.  Nothing will be considered a currency until a coin's volume exceeds $1 billion within a 24 hour period, something which no current coin is close to doing - Bitcoin's record was $70 million.

There are the technical issues - for instance, all the required confirmations within Bitcoin makes it impractical to use in a brick & mortar store.  There appears to be a theoretical way to get around this, such as Bitpay acting as an equivalent to a credit card.  Though nothing stops Bitpay from wiping out Visa / American express and then later jacking up the fees when they establish a monopoly.

There really needs to be a digital coin with fast transactions and confirmations, and this has to be scalable when the coin later grows to a billion+ in volume.

[sevenyears26]

it will rise again once its on coinmarketcap.. nxt devs are in contacts with gliss to help with listing.

can it be listed in coinmarketcap when they are just tokens  and not the real coins?

bin in contact with gliss(runs coinmktcap)

hes listing nem with the help of the nxt devs, may take a little longer than normal as he needs help to pull info from the nxt api, a dev from nxt is currently helping him with that now i think. be prepared for a huge influx of new nemsters lol

That's great news but my question was , is it possible to be listed in coinmarketcap when the coin has not been officialy launched and its only the token...can it be listed like that???

since they added maidsafe (token) I dont think that should be a problem

Do you think it will be done by tomorrow or beginning next week? as I don't want to sell my token and wait till is listed...people are selling too cheap...do you think this will increase much higher the price as at the moment is 20k nxt per stake?

id say it will be done well within 48 hours but cant ever be sure... there was so much demand for it id say he will make it a priority. dont forget theres 3000 people that will want to be checking it lol

well ya id say it will push the price up a good bit.. people will see it suddenly in 15 place, check it out. and find out that there hasnt even been an alpha yet. or white paper or anything but yet its in 15 place.. wouldnt you think, shit thats something i gota buy! plus theres a fuck ton of people who use coinmarketcap that just dont know about nem yet.. id say its going to have a huge impact on the value! top 15 with no software or white paper.. thats mad! people will want in!

I agree with you there. I would try to buy as soon as possible.

[Susy Desy]

I can not access the google doc link.
I don't know whether i am there or not.

[Candy L93]

https://bitcointalk.org/index.php?topic=616467.0
You can see here

[TaunSew]

NxT's price and volume has been skyrocketing but it's been established that, yesterday, the volume trading NEM tokens was $51,000 in a 24 hour period.  People buying NxT to acquire NEM is what is shooting up NxT's price.  No different than how people buying Maidsafe coins led to Mastercoin to double (triple?) in capitalization (which then plummeted afterwards).


NxT's volume a couple weeks ago, before NEM trading, was only $20,000 to $80,000.  It looks like NEM, before alpha, is essentially almost as big as NxT in volume and that's despite being restricted to tokens on the AE.

[TaunSew]

NxT's price and volume has been skyrocketing but it's been established that, yesterday, the volume trading NEM tokens was $51,000 in a 24 hour period.  People buying NxT to acquire NEM is what is shooting up NxT's price.  No different than how people buying Maidsafe coins led to Mastercoin to double (triple?) in capitalization (which then plummeted afterwards).


NxT's volume a couple weeks ago, before NEM trading, was only $20,000 to $80,000.  It looks like NEM, before alpha, is essentially almost as big as NxT in volume and that's despite being restricted to tokens on the AE.

if that is true.. thats quite astonishing!

There are links to confirm the $51K volume, albeit other people posted them so I don't have that link on hand (but I definitely saw it).

NEM is the only thing which explains NxT's recent upswing out of nowhere.

[Ozziecoin]

It's easy to conclude that Darkcoin is a 'pump of the month'.  When Bitcoin enters a stagnation period then money seems to coincidentally pile up on a low capitalization coin and sends it, temporarily, into the stratosphere.

Here are past examples

Aurora
Mint Coin
Vert Coin
Black Coin

We'll have to wait and see if Darkcoin maintains its' capitalization (or goes higher), I'm thinking no.

I think you may have made a mistake on that one bro. For the reason that darkcoin with privacy is more desirable than litecoin without it.

[xtester]

NxT's price and volume has been skyrocketing but it's been established that, yesterday, the volume trading NEM tokens was $51,000 in a 24 hour period.  People buying NxT to acquire NEM is what is shooting up NxT's price.  No different than how people buying Maidsafe coins led to Mastercoin to double (triple?) in capitalization (which then plummeted afterwards).


NxT's volume a couple weeks ago, before NEM trading, was only $20,000 to $80,000.  It looks like NEM, before alpha, is essentially almost as big as NxT in volume and that's despite being restricted to tokens on the AE.

if that is true.. thats quite astonishing!

There are links to confirm the $51K volume, albeit other people posted them so I don't have that link on hand (but I definitely saw it).

NEM is the only thing which explains NxT's recent upswing out of nowhere.

but there has been so much happening with nxt.. i cant see it being purely down to nem.. ether way.. its good for nem too.. if nxt rises in value the market cap of nem does too lol

I would agree with @TaunSew. I think there was some increase in price before NEM but that happened for the same practical reason, people were buying Nxt to buy some other shares on Nxt AE. Now, probably the most important factor for growth is people buying Nxt in order to buy NEM.

[mrvegad]

Not sure why people think marketcap is so important, until I can buy a product with NEM (online or pos) I don't care if market cap is one million or hundred million. If NEM works and we can get it in the hands of average joe then to me that's when the real market cap starts. The way I see it, right now NEM is just a commodity and not a currency which is what I will be working hard to do.

To constitute being a currency then it's literally the chicken before the egg.  Nothing will be considered a currency until a coin's volume exceeds $1 billion within a 24 hour period, something which no current coin is close to doing - Bitcoin's record was $70 million.

There are the technical issues - for instance, all the required confirmations within Bitcoin makes it impractical to use in a brick & mortar store.  There appears to be a theoretical way to get around this, such as Bitpay acting as an equivalent to a credit card.  Though nothing stops Bitpay from wiping out Visa / American express and then later jacking up the fees when they establish a monopoly.

There really needs to be a digital coin with fast transactions and confirmations, and this has to be scalable when the coin later grows to a billion+ in volume.

Not sure where you got the $1 billion within a 24 hour period from but you are right about the confirmation times, until a coin can do it in under 10 secs without a thridparty then it won't be used in brick and mortar store.Putting faith in some thridparty payment system is really no better then what we got now.

[smophf7]

ive followed nxt price for a long time, im pretty sure nem def has something to do with the price rise, im not saying its the only reason, but nxt has only done 110,000 volume the past 24 hours and its risen 12%, what did nem do $50,000 volume the first day, easy math says its plausible.

the last major run up was caused by being at a conference where they made a huge amount of contacts and many many people were interested greatly by nxt.. there is currently guys at another conference now(today and tomrrow i think.. not literally right now lol) and the payexpo is coming up (nxt is the only coin going to be there.. dont even think btc is going to be there, could be wrong. there is also 3 major major announcements to be made..(pre ann today) a huge amount of excitement and many nxt guys bought more.. one devs interveiw was also on letstalkbitcoin today i think actually. nem may have played a part.. but its far from the main cause!

also this: https://nxtforum.org/central-europe-bitcoin-expo-(vienna-may-31-2014)/day-1/msg32930/#msg32930

if you look to the comments bellow he also states that is "confirmed"

what i take from this is that nxt may become listed on the exchange that he is talking about.. if its huobi... shit.. thats guna be SICK!!!! so ya i dont think its nem lol

Ah that explains it... lots of activity on NXT exchange + the NEM stuff: NEM, dotsforbits, and tons of others

[Thusith]

Is the wallet coming out?
I don't find the download link.

[TaunSew]

ive followed nxt price for a long time, im pretty sure nem def has something to do with the price rise, im not saying its the only reason, but nxt has only done 110,000 volume the past 24 hours and its risen 12%, what did nem do $50,000 volume the first day, easy math says its plausible.

the last major run up was caused by being at a conference where they made a huge amount of contacts and many many people were interested greatly by nxt.. there is currently guys at another conference now(today and tomrrow i think.. not literally right now lol) and the payexpo is coming up (nxt is the only coin going to be there.. dont even think btc is going to be there, could be wrong. there is also 3 major major announcements to be made..(pre ann today) a huge amount of excitement and many nxt guys bought more.. one devs interveiw was also on letstalkbitcoin today i think actually. nem may have played a part.. but its far from the main cause!

also this: https://nxtforum.org/central-europe-bitcoin-expo-(vienna-may-31-2014)/day-1/msg32930/#msg32930

if you look to the comments bellow he also states that is "confirmed"

what i take from this is that nxt may become listed on the exchange that he is talking about.. if its huobi... shit.. thats guna be SICK!!!! so ya i dont think its nem lol

Ah that explains it... lots of activity on NXT exchange + the NEM stuff: NEM, dotsforbits, and tons of others

I've been following conventions for the various coins and conclude that they're a waste of money, they cost more to attend than they get out of it.

A bit off-topic but I am forced to attend conventions, in my industry, and it's honestly a big joke.  Conventions are all about socialites and networking between the high status people (IF these people show up, more often than not they send the intern who can't answer simple questions).  The Bitcoin and digital currency conventions are no different, from what I have heard.


If you read the NxT forums like me - even they acknowledge that NEM is dominating the NxT AE and that's where most of the upswing in volume is coming from.

[Simakki]

 It is outstandingly clear that NEMtokens in nxt AE have moved the nxt volume up, some conferences with bunch of geeks has nothing to do it. NEM tokens volumes are quite impressing 

[TaunSew]

It is outstandingly clear that NEMtokens in nxt AE have moved the nxt volume up, some conferences with bunch of geeks has nothing to do it. NEM tokens volumes are quite impressing  

http://nxtblocks.info/#section/assets_exchange/12465186738101000735

NEM has done almost 2 million NXT in Volume in less than 48 hours.  NEM started trading on Friday.  2 million NxT = $122K.    If NXT a week ago was trading between $20k to $100K, NEM is easily accounting for nearly 60% of NxT's current volume.

That isn't counting the people who acquired NxT, who had the intent to purchase / bid for NEM but didn't follow through.

NEM is huge.

[Breasal]

It is outstandingly clear that NEMtokens in nxt AE have moved the nxt volume up, some conferences with bunch of geeks has nothing to do it. NEM tokens volumes are quite impressing  

https://nxtforum.org/general-discussion/price-speculation/960/

Even they acknowledge on NxT forum that NEM is the reason for the huge current upswings in NxT.  They know this because they have ways to check the volume on the AE and NEM is essentially dominating it.  

http://nxtblocks.info/#section/assets_exchange/12465186738101000735

NEM has done almost 2 million NXT in Volume in less than 48 hours ($125,000).  That's not counting people who bought NxT, with intent of acquiring NEM, who didn't follow through purchasing any actual NEM.

I think the argument that NXT is climbing due to NEMstake is a bit off...only ~200 stakes have been allocated.

Edit: exchanges on the AE do not necessarily increase the trading price of NXT.

Here's the primary reason(s) for the pump.

https://nxtforum.org/general-discussion/literally-the-biggest-announcement-i-ever-made-dev-team/

[TaunSew]

It is outstandingly clear that NEMtokens in nxt AE have moved the nxt volume up, some conferences with bunch of geeks has nothing to do it. NEM tokens volumes are quite impressing  

https://nxtforum.org/general-discussion/price-speculation/960/

Even they acknowledge on NxT forum that NEM is the reason for the huge current upswings in NxT.  They know this because they have ways to check the volume on the AE and NEM is essentially dominating it.  

http://nxtblocks.info/#section/assets_exchange/12465186738101000735

NEM has done almost 2 million NXT in Volume in less than 48 hours ($125,000).  That's not counting people who bought NxT, with intent of acquiring NEM, who didn't follow through purchasing any actual NEM.

I think the argument that NXT is climbing due to NEMstake is a bit off...only ~200 stakes have been allocated.

Here's the primary reason(s) for the pump.

https://nxtforum.org/general-discussion/literally-the-biggest-announcement-i-ever-made-dev-team/

Not according to the volume on the AE.  NEM has done almost 2 million NxT ($125K) since Friday, whereas NXT's 24 hour volume is only $250K so far.  NEM is easily more than half of NxT's volume at the moment.  Not counting the people who acquired NXT, to purchase NEM, who didn't follow through to purchase anything yet.

The upswing is 100% all NEM.   Even they (hint) it on their official forum in the NxT price speculation thread (if you can be bothered to read the last 20 pages).

No one is pumping money into NxT based on a 'rumour' or some obscure convention.  That's easily dispelled from looking at the AE volume.  The AE volume by itself, if it were a separate coin, would be in the top 20 of cryptos.

[dewey556]

If NEM is responsible for nxt price jump we should see a price rise for the tokens aswell should't we?

[TaunSew]

If NEM is responsible for nxt price jump we should see a price rise for the tokens aswell should't we?

Not always - BTC, Litecoin and other alts have gone through volume surges without the price buckling.  Price upswings only occur when someone buys out sell walls but many traders prefer to allow the walls to build up before they do that.

[xtester]

It is outstandingly clear that NEMtokens in nxt AE have moved the nxt volume up, some conferences with bunch of geeks has nothing to do it. NEM tokens volumes are quite impressing  

https://nxtforum.org/general-discussion/price-speculation/960/

Even they acknowledge on NxT forum that NEM is the reason for the huge current upswings in NxT.  They know this because they have ways to check the volume on the AE and NEM is essentially dominating it.  

http://nxtblocks.info/#section/assets_exchange/12465186738101000735

NEM has done almost 2 million NXT in Volume in less than 48 hours ($125,000).  That's not counting people who bought NxT, with intent of acquiring NEM, who didn't follow through purchasing any actual NEM.

I think the argument that NXT is climbing due to NEMstake is a bit off...only ~200 stakes have been allocated.

Here's the primary reason(s) for the pump.

https://nxtforum.org/general-discussion/literally-the-biggest-announcement-i-ever-made-dev-team/

Not according to the volume on the AE.  NEM has done almost 2 million NxT ($125K) since Friday, whereas NXT's 24 hour volume is only $250K so far.  NEM is easily more than half of NxT's volume at the moment.  Not counting the people who acquired NXT, to purchase NEM, who didn't follow through to purchase anything yet.

The upswing is 100% all NEM.   Even they (hint) it on their official forum in the NxT price speculation thread (if you can be bothered to read the last 20 pages).

No one is pumping money into NxT based on a 'rumour' or some obscure convention.  That's easily dispelled from looking at the AE volume.  The AE volume by itself, if it were a separate coin, would be in the top 20 of cryptos.

There's no need for very much discussion on this point. It is obvious that you are right.