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

[upekha]

Regarding the forging algorithm. Are we still exploring options to improve this over NXT?

I am convinced that the design of the forging algorithm is one of the major things that may convice people to invest in NEM!

For this I believe the goal of the forging concept should be:

1. To attract as many people as possible to invest in NEM (preferrably even small amounts)
2. To make NEM more than just an investment

Yeah I think thats absolutely the case!
And maybe also adjusting the fee-system.

I think one of the main reasons why people use bitcoin, is that it has so small transaction fees.
But is this even possible when NEM is supposed to be a PoS-currency?

[patmast3r]

Regarding the forging algorithm. Are we still exploring options to improve this over NXT?

I am convinced that the design of the forging algorithm is one of the major things that may convice people to invest in NEM!

For this I believe the goal of the forging concept should be:

1. To attract as many people as possible to invest in NEM (preferrably even small amounts)
2. To make NEM more than just an investment

Yeah I think thats absolutely the case!
And maybe also adjusting the fee-system.

I think one of the main reasons why people use bitcoin, is that it has so small transaction fees.
But is this even possible when NEM is supposed to be a PoS-currency?

bitcoin fees where low when bitcoin price was low - that's not the case anymore.

[utopianfuture]

In an attempt to attract users who are relatively new to crypto-currency. I have set up a point-of-sale PAYPAL to NEM that I personally oversee: The way it works is that:

1. The new user contacts me via PM asking for a PayPal option
2. The new user sends me $ via Paypal (gift)
3. I send the required NXT to NEM account from my personal address 3231774856984709013
4. I give the new user the transaction id so he/ she can make a new account, make a post with that transaction id to reserve a stake (explicitly announcing this is paypal transaction as well)

Now this option is a way to help new users coming to NEM and cryptocurrency in general so it is not open to any users who can access NXT or BTC easily. I would generally ask for personal information and the reason why they cannot send NXT or BTC in.

So the address 3231774856984709013 would be exempt from sending address check.

I would prefer to not use this option for more than a total of 1000$ in transaction so let me know if you want to help and offer this type of service.

[upekha]

hey guys!
(I hope its okay posting logos here?)
your feedback is needed.

should I continue to work on this?
what do you think could be improved?




my personal favourite:



kind regards,
upekha

[patmast3r]

While I think it looks pretty good it does remind me a lot of another coin that is already out there...can't remember the name right now. If you browse the Announcement sub you'll sure stumble upon it tho.

[upekha]

While I think it looks pretty good it does remind me a lot of another coin that is already out there...can't remember the name right now. If you browse the Announcement sub you'll sure stumble upon it tho.

ouh my goodness, that is not the smallest thread ..
if you remember the coin again, please post a link!
But its none of the coins that is on coinmarketcap, right?

[Mrrr]

Whatever the plan is I suggest you make it quick Someone tossed this on to the Litecoin forums and the post was met with a rather cold Ponzi/Premine sentiment. Which is, in a sence, a very logical response from any non Belieber. By the rate this is going NEM will hit its 4000 stakeholder target in two weeks. By that time NEM will have collected +/- 200BTC (think its around 30BTC now). In order to keep the public opinion on your side you'll really need to show something soon.

Reference: LTC forum topic:

https://litecointalk.org/index.php?topic=14547.0

[l4p7]

how often is this updated https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdDZ0amZpM00wQXhrR2lJM3pCOGRhNFE#gid=0 ? I am not on there dispite my contribution:https://bitcointalk.org/index.php?topic=440185.msg4886653#msg4886653
Thanks in advance!

Anyone have an answer to this I did not get listed...

[jkoil]

While I think it looks pretty good it does remind me a lot of another coin that is already out there...can't remember the name right now. If you browse the Announcement sub you'll sure stumble upon it tho.

maybe Terracoin? Argentum?
p2pool.org is pretty list of different images...

[jkoil]

Or we could have forging bands where a certain level of coins would put you in a group.
For example, forging groups could be:
- Accounts > 4M
- Accounts [1M, 4M)
- Accounts [500K, 1M)
- Accounts [100K, 500K)
- Accounts [1K, 100K)
- Accounts [1, 1K)
Each subsequent block could come from a different group. Assuming less concentration at the top, that would encourage asset consolidation up to 4M and then a splitting of assets less than that.
(1) Bands with less accounts would be more desirable
(2) As people move to less occupied bands, the bands will reach an equilibrium where they all have ~ the same number of accounts
(3) Everyone or no one

It's just something I thought up of now, so I haven't fully thought it through.

forging groups may be good; then the richer are earning from other rich, and so on.
To avoid that someone splits his big account to n*999999, to get "better" forging,
the limits could be floating, changed by some algorithm (if not too difficult to implement).

But later, in active network, the tx fees may change the understanding of forging's effects/benefits.

[jkoil]

how often is this updated https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdDZ0amZpM00wQXhrR2lJM3pCOGRhNFE#gid=0 ? I am not on there dispite my contribution:https://bitcointalk.org/index.php?topic=440185.msg4886653#msg4886653
Thanks in advance!

Anyone have an answer to this I did not get listed...

Maybe once in a day. For me it took over 24 hours ...

[utopianfuture]

stakeholder List update to page 10 thread 2. The reason for this lateness is I found out couple of fraudsters and the main trick they used is to make reservations with other people transactions.

Since the fee changes every 10 pages, they can only use the transaction in that range because the first thing I checked is to see if there is indeed an transaction of the right amount. Now I also sorted the hash in alphabetical order and only accept unique transaction hash; if a hash was used the second time then that user is a fraudster. So it would take longer time now to update the list since the checking now requires more times and efforts.

I would also go back to earlier transactions to find every single fraudsters and throw them out of the list. The good thing is that all the records are public in the registration thread and all fraudsters will be found out easily using the method I lay out.

So go ahead and waste your times because I am going to find you and throw you out of the stakeholder list.

[publicstalker]

stakeholder List update to page 10 thread 2. The reason for this lateness is I found out couple of fraudsters and the main trick they used is to make reservations with other people transactions.

Since the fee changes every 10 pages, they can only use the transaction in that range because the first thing I checked is to see if there is indeed an transaction of the right amount. Now I also sorted the hash in alphabetical order and only accept unique transaction hash; if a hash was used the second time then that user is a fraudster. So it would take longer time now to update the list since the checking now requires more times and efforts.

I would also go back to earlier transactions to find every single fraudsters and throw them out of the list. The good thing is that all the records are public in the registration thread and all fraudsters will be found out easily using the method I lay out.

So go ahead and waste your times because I am going to find you and throw you out of the stakeholder list.

I was thinking the same. I was about to post but you discovered it yourself.

I'm very glad to be one of the holders (even though I'm not in the list yet) and hoping this is not a scam and the project go further.

[nottrulyevil]

stakeholder List update to page 10 thread 2. The reason for this lateness is I found out couple of fraudsters and the main trick they used is to make reservations with other people transactions.

Since the fee changes every 10 pages, they can only use the transaction in that range because the first thing I checked is to see if there is indeed an transaction of the right amount. Now I also sorted the hash in alphabetical order and only accept unique transaction hash; if a hash was used the second time then that user is a fraudster. So it would take longer time now to update the list since the checking now requires more times and efforts.

I would also go back to earlier transactions to find every single fraudsters and throw them out of the list. The good thing is that all the records are public in the registration thread and all fraudsters will be found out easily using the method I lay out.

So go ahead and waste your times because I am going to find you and throw you out of the stakeholder list.

Good that you found out!

Oh and utopianfuture do you know when the registration will end if the registration speed continues like this? 1 week? 2 week? or 4000 stakeholders? Thanks in advance!

[gramufibus]

I suspect a common reaction amongst the dogecoin crowd will be to shout about premine and scam etc...  There is that pervasive attitude, that anything that doesn't justifiy having a GPU rig to mine coin is a scam.

What are some good constructive ways to communicate that NEM is not a scam, and is meant to fulfill the promise of a fairly distributed currency?

[wunderbaro]

Some advice to the devs:

You should do a multibit type client for NEM instead of a localhost site like in NXT.
I think that would be better for newbies and it feels professionally, what NXT's localhost page I think not the best...
But thats just an opinion, many people outside the crypto world don't even know what is IP or localhost or port, and if the software don't start it automatically they won't do it.

[Damelon]

I suspect a common reaction amongst the dogecoin crowd will be to shout about premine and scam etc...  There is that pervasive attitude, that anything that doesn't justifiy having a GPU rig to mine coin is a scam.

What are some good constructive ways to communicate that NEM is not a scam, and is meant to fulfill the promise of a fairly distributed currency?

Scam is so easy to use.

This is a risk, certainly.
However, I know utopianfuture from his work on Nxt (which also proved not to be a scam and is continuing to prove it) and I am convinced NEM will start in good faith.

That doesn't mean it will be a success. If I've learned anything at Nxt it's that PoS coins rely on a strong contributing community that invests in the coin (not just in money, far more in time and effort) to give the system value.

I'm very curious how this will turn out.

[Stadtfeger]

Thanks for your good work utopianfuture but do not forget to sleep

[Mrrr]

Whatever the plan is I suggest you make it quick Someone tossed this on to the Litecoin forums and the post was met with a rather cold Ponzi/Premine sentiment. Which is, in a sence, a very logical response from any non Belieber. By the rate this is going NEM will hit its 4000 stakeholder target in two weeks. By that time NEM will have collected +/- 200BTC (think its around 30BTC now). In order to keep the public opinion on your side you'll really need to show something soon.

Reference: LTC forum topic:

https://litecointalk.org/index.php?topic=14547.0

I think I am voicing a legitimate concern here so don't bully me. Utopianfuture it would be nice if you could find the time to provide me with a reply here. So that I may post it on Litecoin's forums.

[Jenska]

Allthough im also made a logo set, i thought at the moment some of these new sketches in registeration thread are done just by little or no work at all?