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

[loyer]

• NEM will use something similar to Bitcoin's wallet.dat system.

fek it.. i really like brain wallets.. :/

you know the way electrum allows you to enter a seed to retrieve your wallet and then your wallet.dat password to access coins.. could you do something like this? so you end up with your seed passphrase that, i suppose downloads?, your wallet.dat from the cloud(if you have put it there) to what ever client your using, and then you can enter your wallet.dat password or something... giving the portability of a brainwallet but also the security of being able to create wallets offline like bitcoin? best of both worlds!
 
could this be done?

1. client creates wallet file. (now usable only on currwent computer system same as any other bitcoin wallet.dat file)

2. if you want brainwallet protablility, you create + save a passphrase, encrypt wallet file using passphrase as the key, tag it with an alias to find it easily, upload to the nem cloud(if there is/will be one)

3. to access from any other client you click find wallet, enter tag, auto-download(or run from cloud if its possible to save download time and effort) wallet, enter passphrase to decrypt wallet and wallet is now usable. security of wallet.dat(if not uploaded to cloud) and portability of brainwallet with out hardware or paper wallet.

+1000

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[TauMuon]

I think most of the people who are selling their NEM stakes are desperate for money. That means they are probably immediately cashing in their Nxt when they get it. I would attribute the price rise in Nxt to speculation based on reports of impending big announcements.

This is one of the benefits of having a quasi-exchange to enable a limited amount of pre-launch trading. It will weed out the major dumpers who wish to sell their NEM immediately with no intention of supporting the network or the ecosystem, before it's even launched.

[TauMuon]

Wow definitely very cool, I will put them in the promotion board.

does one NEMstake equal 1/1000th of the entire amount of NEM?

There are 4000 NEM stakes. So 1 NEMstake token on the NXT A.E. is worth 1/4000 the entire amount of NEM (1x10⁶ coins per stake / 4x10⁹ total supply).

[owon]

I would like to know if there will be an "import private key" function in the NEM community client and how to create a NEM address key pair for the voucher? Is the proposal for a NEM from the initial development plan still valid and will we use "standard base32" encoded addresses? Maybe the devs can help me with my questions?

Thank you all for your hard work in NEM!

i dont think nem will be using conventional wallet.dat files, instead it will be brain wallets so in this case what you would doo, i guess, is put the passphrase of a preloaded account on the vouchers??? perhaps with a qr code that can be read to input the passphrase into the client on a smart phone... devs would be ones to talk to though... from what i know i think that may be the only way to go about doing such a thing.

if you do this come launch of nem,message me, then il send you a list of passphrases(or how ever you go about doing it), pay for the printing + postage plus a little extra and il pre-load the ones you send me and distribute a few (hundred) myself.

you will need to put info on them and say somewhere that they are like digital gold and info/links to websites ect.

great idea and initiative!

NEM will NOT use brainwallets.

I know that NEM will probaply NOT use brainwallets. But it will use some kind of private/public key encoding to realize the crypto. It would be helpful for me to know if it is possible to import a private key / create wallet from private key function in the community client? For the voucher it should be no problem to create a keypair if somebody can tell me how this is encoded. I have seen a base32 encoding as a first proposal here https://docs.google.com/document/d/1NhxTyi4Eo2D_1m1Ca8zvzQr0_RB0dgM2VuWXAIzcS-I/edit?pli=1 but i am not sure if this will be final? Another alternative would be to create a wallet for each voucher, send NEM to the wallet and make it downloadable on a webpage by accessing the "hidden" link embedded in the voucher. I will see what can be done in the alpha release or maybe a dev can give me an info on the topics above in advance.

If everything is clear for the voucher i may try to create a webpage for everybody to easily create and print it or i will at least release a prepared template and a manual on how to create such vouchers.

Thank you all for your feedback

[utopianfuture]

I would like to know if there will be an "import private key" function in the NEM community client and how to create a NEM address key pair for the voucher? Is the proposal for a NEM from the initial development plan still valid and will we use "standard base32" encoded addresses? Maybe the devs can help me with my questions?

Thank you all for your hard work in NEM!

i dont think nem will be using conventional wallet.dat files, instead it will be brain wallets so in this case what you would doo, i guess, is put the passphrase of a preloaded account on the vouchers??? perhaps with a qr code that can be read to input the passphrase into the client on a smart phone... devs would be ones to talk to though... from what i know i think that may be the only way to go about doing such a thing.

if you do this come launch of nem,message me, then il send you a list of passphrases(or how ever you go about doing it), pay for the printing + postage plus a little extra and il pre-load the ones you send me and distribute a few (hundred) myself.

you will need to put info on them and say somewhere that they are like digital gold and info/links to websites ect.

great idea and initiative!

NEM will NOT use brainwallets.

I know that NEM will probaply NOT use brainwallets. But it will use some kind of private/public key encoding to realize the crypto. It would be helpful for me to know if it is possible to import a private key / create wallet from private key function in the community client? For the voucher it should be no problem to create a keypair if somebody can tell me how this is encoded. I have seen a base32 encoding as a first proposal here https://docs.google.com/document/d/1NhxTyi4Eo2D_1m1Ca8zvzQr0_RB0dgM2VuWXAIzcS-I/edit?pli=1 but i am not sure if this will be final? Another alternative would be to create a wallet for each voucher, send NEM to the wallet and make it downloadable on a webpage by accessing the "hidden" link embedded in the voucher. I will see what can be done in the alpha release or maybe a dev can give me an info on the topics above in advance.

If everything is clear for the voucher i may try to create a webpage for everybody to easily create and print it or i will at least release a prepared template and a manual on how to create such vouchers.

Thank you all for your feedback

There will be import private key function. So @kodty you can import private key directly to client and it works similar to brain wallet. The think that differentiates from a true brain wallet is that your private key or your "password" here can be saved offline (cold storage).

So the more options the more power to users.

[loyer]

I can not understand why NEM stakes are sold so cheap on the asset exchange

[loyer]

and the low volume in NXT/CNY show that the asset exchange has a little exceptional popularity in China! We should work with NEM, it is eventually the most important market:

BTER      NXT/BTC      $ 211,667   $ 0.057944    50.27 %
DGEX      NXT/BTC      $ 102,245   $ 0.058446    24.28 %
Cryptsy      NXT/BTC        $ 61,494           $ 0.058714    14.60 %
BTER      NXT/CNY       $ 36,854           $ 0.059196    8.75 %
Poloniex     NXT/BTC       $ 7,750           $ 0.059327    1.84 %
Vircurex      NXT/BTC        $ 1,032           $ 0.058714    0.25 %
NXT-E      NXT/BTC        $ 21                   $ 0.078220    0.01 %

[CECVW]

Any update on when the auction begins?

update 5/19: NEM public auction explanation https://bitcointalk.org/index.php?topic=426303.msg6821199#msg6821199

Friend! Why not to buy NEM stake on NXT asset exchange? Now, it is just about 20000 NXT, believe me -this is very good price.

Cheers.

once alpha comes out you wont see close to that price for a very long long time!

edit: look at bitcoin go! fucking wooooooo lol

what do you mean by ''once alpha comes out you wont see close to that price for a very long long time!'' do you mean the price will be higher or lower than 20,000 next, I hope higher! and any news when will be NEM be in coinmarketcap and also any news when the alpha version will be released?

[play4ce]

I can not understand why NEM stakes are sold so cheap on the asset exchange

its actually very good, so the early NEM community can grow! and most people only sell aroud 0.2 at max. this is a very good sign, seems that there are not too many sockpuppets.

[patmast3r]

I can not understand why NEM stakes are sold so cheap on the asset exchange

They are sold around 20k NXT. I'd say that's pretty great for something that cost around 1k NXT a few months ago.

[play4ce]

I can not understand why NEM stakes are sold so cheap on the asset exchange

They are sold around 20k NXT. I'd say that's pretty great for something that cost around 1000 NXT a few months ago.

and 0 NXT a few days before that^^

[loyer]

and the low volume in NXT/CNY show that the asset exchange has a little exceptional popularity in China! We should work with NEM, it is eventually the most important market:

BTER      NXT/BTC      $ 211,667   $ 0.057944    50.27 %
DGEX      NXT/BTC      $ 102,245   $ 0.058446    24.28 %
Cryptsy      NXT/BTC        $ 61,494           $ 0.058714    14.60 %
BTER      NXT/CNY       $ 36,854           $ 0.059196    8.75 %
Poloniex     NXT/BTC       $ 7,750           $ 0.059327    1.84 %
Vircurex      NXT/BTC        $ 1,032           $ 0.058714    0.25 %
NXT-E      NXT/BTC        $ 21                   $ 0.078220    0.01 %

cny has never really bin a big market.. thats not going to be the case for long though!

so you are completely wrong!!! at the time NXT was new listed on BTER, the volume CNY/NXT was almost as high as the BTC/NXT volume

[NorrisK]

Still following this project with great interest from the sidelines! Nice to see the current value being found!

[TaunSew]

and the low volume in NXT/CNY show that the asset exchange has a little exceptional popularity in China! We should work with NEM, it is eventually the most important market:

BTER      NXT/BTC      $ 211,667   $ 0.057944    50.27 %
DGEX      NXT/BTC      $ 102,245   $ 0.058446    24.28 %
Cryptsy      NXT/BTC        $ 61,494           $ 0.058714    14.60 %
BTER      NXT/CNY       $ 36,854           $ 0.059196    8.75 %
Poloniex     NXT/BTC       $ 7,750           $ 0.059327    1.84 %
Vircurex      NXT/BTC        $ 1,032           $ 0.058714    0.25 %
NXT-E      NXT/BTC        $ 21                   $ 0.078220    0.01 %

cny has never really bin a big market.. thats not going to be the case for long though!

so you are completely wrong!!! at the time NXT was new listed on BTER, the volume CNY/NXT was almost as high as the BTC/NXT volume

ah right didnt realise..

on another note.. seems the selling of shares is slowing and the 20k price is holding..

The swarm team needs to contact coinmarketcap - so they can put the NEM tokens up.  IIRC - the coinmarketcap team said they were willing to put assets up if they attained enough volume.

NEM right now has more 24 hour volume than coins like Monero, it's in the top 15 of coins (for volume.  In capitalization it's in the top 20). and that's just token trading on NxT's AE (imagine the volume if NEM was released and on actual exchanges?)

I'm very convinced, based on the current numbers, that if NEM was released then its' volume would surpass NxT's.

[loyer]

and the low volume in NXT/CNY show that the asset exchange has a little exceptional popularity in China! We should work with NEM, it is eventually the most important market:

BTER      NXT/BTC      $ 211,667   $ 0.057944    50.27 %
DGEX      NXT/BTC      $ 102,245   $ 0.058446    24.28 %
Cryptsy      NXT/BTC        $ 61,494           $ 0.058714    14.60 %
BTER      NXT/CNY       $ 36,854           $ 0.059196    8.75 %
Poloniex     NXT/BTC       $ 7,750           $ 0.059327    1.84 %
Vircurex      NXT/BTC        $ 1,032           $ 0.058714    0.25 %
NXT-E      NXT/BTC        $ 21                   $ 0.078220    0.01 %

cny has never really bin a big market.. thats not going to be the case for long though!

so you are completely wrong!!! at the time NXT was new listed on BTER, the volume CNY/NXT was almost as high as the BTC/NXT volume

ah right didnt realise..

on another note.. seems the selling of shares is slowing and the 20k price is holding..

Right! I would not to sell so my stake under 100k NXT

[loyer]

and the low volume in NXT/CNY show that the asset exchange has a little exceptional popularity in China! We should work with NEM, it is eventually the most important market:

BTER      NXT/BTC      $ 211,667   $ 0.057944    50.27 %
DGEX      NXT/BTC      $ 102,245   $ 0.058446    24.28 %
Cryptsy      NXT/BTC        $ 61,494           $ 0.058714    14.60 %
BTER      NXT/CNY       $ 36,854           $ 0.059196    8.75 %
Poloniex     NXT/BTC       $ 7,750           $ 0.059327    1.84 %
Vircurex      NXT/BTC        $ 1,032           $ 0.058714    0.25 %
NXT-E      NXT/BTC        $ 21                   $ 0.078220    0.01 %

cny has never really bin a big market.. thats not going to be the case for long though!

so you are completely wrong!!! at the time NXT was new listed on BTER, the volume CNY/NXT was almost as high as the BTC/NXT volume

ah right didnt realise..

on another note.. seems the selling of shares is slowing and the 20k price is holding..

The swarm team needs to contact coinmarketcap - so they can put the NEM tokens up.  IIRC - the coinmarketcap team said they were willing to put assets up if they attained enough volume.

NEM right now has more 24 hour volume than coins like Monero, it's in the top 15 of coins (for volume.  In capitalization it's in the top 20). and that's just token trading on NxT's AE (imagine the volume if NEM was released and on actual exchanges?)

I'm very convinced, based on the current numbers, that if NEM was released then its' volume would surpass NxT's.

That would be awesome! but I think the asset exchange is not displayed when coinmarketcap?

[illodin]

I can not understand why NEM stakes are sold so cheap on the asset exchange

Not sure if it is that cheap. The current price means $5MM market cap, which would make it around #15 crypto coin - and this even before it actually exists! Maybe there is a reason for this though, I'm still very very noob when it comes to NEM or NXT.

[Eadeqa]

I can not understand why NEM stakes are sold so cheap on the asset exchange

Not sure if it is that cheap. The current price means $5MM market cap, which would make it around #15 crypto coin - and this even before it actually exists! Maybe there is a reason for this though, I'm still very very noob when it comes to NEM or NXT.

actually the true value is less than a quater of that.. there were only 1000 stakes issued and less than half sent out.. you can only logically go by the coins in circulation

Less than 300  stakes were sent. So 300 * 1 million, is 300 million coins

That will put marketcap a lot less than $5 million

[GheorgheCuza]

Will the NEM client have multilingual support? Multiple language support is important.

"Globally, consumers are spending an estimated $694 billion online this year, according to Common Sense Advisory [1]. Approximately 96 percent of global consumers live outside of the United States [2], and 70 percent of global Web users visit websites in their own language [3]. According to research firm IDC, web users are four times more likely to make a purchase from a company if the company communicates in the buyers language."
www.marketwired.com/press-release/lingotek-devzone-expands-with-new-integrations-1914588.htm

[instacalm]

Will the NEM client have multilingual support? Multiple language support is important.

"Globally, consumers are spending an estimated $694 billion online this year, according to Common Sense Advisory [1]. Approximately 96 percent of global consumers live outside of the United States [2], and 70 percent of global Web users visit websites in their own language [3]. According to research firm IDC, web users are four times more likely to make a purchase from a company if the company communicates in the buyers language."
www.marketwired.com/press-release/lingotek-devzone-expands-with-new-integrations-1914588.htm

yes!!!! 100%.. this is a must! even if its just english and chinese at first! then move on to spanish and french!

Language size: http://www.ethnologue.com/statistics/size