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

[upekha]

@ utopianfuture

maybe, it would be good to get somebody with an economical background (if someone of you already is, ignore this) in the developer team!
somebody who can do the maths and rough progronses (for example if we want to figure out how many fees should be forged at what amount of coins.)
this should probably not just be random intuition.

I think this would make a very convincing and holistic crypto!

[Smokeymar]

Good stuff!

[mr smith]

Hey
lots of talk about going on about this or that exchange asap.
if we were listed on an exchange first thing people would do is  -  sell.
maybe some would hold.(still free market and greater movement)
the damage of a large scale sell sell sell, start for NEM would be dire for the long term objective.

I think UP has already covered this, earlier post Graviton (Dgex)
NXT has a few large account holders. Very easy to manage the flow of sales barring a few dumps by the black sheep. It may sound odd to some but i think a lot of NXT was actually bought back by large account holders. i would hazard a guess  pro day traders have input.

How many amongst us will buy when the price is falling and take a loss ?

I think a shake and bake of all stakeholders well before any exchange listing is paramount.

Perhaps if stake holders only got 50% of coins now, 25% in a year and 25% in two years this would improve peoples efforts to progress NEM such as pro activeness in any form. We are not a clone (HURRAY) and the devs have vision, our strength shall be as one and as many.

Our shinning light is NEM and what it stands for. Yes we all want fast money "NOW" me to.
We are born with nothing, we will die with nothing other than the difference we made.

On a lighter note and back to MONEY > me me me 10146161142384606182 grats !

[Jenska]

https://farm6.staticflickr.com/5536/12489098795_dc35548495_n_d.jpg

https://farm4.staticflickr.com/3797/12489223703_1b189ba981_m_d.jpg

https://farm4.staticflickr.com/3702/12489099785_05a0fd8b07_d.jpg

https://farm8.staticflickr.com/7318/12489099625_9bff58bab3_q_d.jpg


"Japan"-NEM

[jl777]

nxtchg.com is for sale. All the source code for an exchange. https://nxtchg.com/sale.php
Min bid is 10 BTC

[utopianfuture]

I think a decentralised exchange (asset exchange) on release would be amazing. Then there'd be no need for NEM to be accepted on a centralised exchange to begin trading; it can happen immediately.

Thoughts on this?

It would be great but you still need an exchange as a fallback.
Also there is a bounty open on a fiat to NEM Service which would be a huge deal since this is something I think no other crypto has (besides BTC and maybe LTC obviously).

I know very little about the details of opening an exchange such as this, but I'm under the impression it's extremely difficult; not technically, but in terms of getting tied up in all sorts of legal trash... essentially it's not really worth it unless your exchange is likely to get lots f volume.

Yep that's pretty much it. Many people have tried providing a service where you can buy cryptos via PayPal and it usually takes less than a month for PayPal to shut it down. The only service I know that is still able to sell BTC for PayPal is virwox.

I like to have something like a LocalNemcoin site. LocalBitcoin is a great grassroot service for bitcoin and that model is much more difficult to suppress compared to a centralized service.

[utopianfuture]

@ utopianfuture

maybe, it would be good to get somebody with an economical background (if someone of you already is, ignore this) in the developer team!
somebody who can do the maths and rough progronses (for example if we want to figure out how many fees should be forged at what amount of coins.)
this should probably not just be random intuition.

I think this would make a very convincing and holistic crypto!

I have an economic background, not the type of financial engineering or mathematical economics but in the institutional and political tradition of Keynes, Hayek, Friedman, Minsky, Douglas North etc. However imho mainstream economic models such as these DSGE models http://en.wikipedia.org/wiki/Dynamic_stochastic_general_equilibrium generally do not work for economic policies as well as having a good grasp of institutional history and incentive design. Mathematical models look sophisticated but often require a lot of restrictive assumptions which generally not being satisfied in real life conditions.

[utopianfuture]

Marketing NEM after fundraising

Ok Nem has done a good job attracting stakeholders with its initial equal distribution plan but what happens after the close of the fundraising?  Why would people choose to invest in NEM( apart from being a great coin ) instead of the other 100 or more crypto currencies when the carrot of a million Nem per stake no longer exists.

We need to think of ways to differentiate Nem from the competition. The following are few ideas that occurred in my mind.

- The wallet should contain a small amount of NEM( 100Nem?) to entice people to download the wallet to properly see just how much better it is compared to other cryptos.

- Stake holders should band together and sponsor good causes for goodwill. Raising money to help buy medical supply for our unfortunate friends in Syria, Sudan is a great way to do good while helping NEM cause too.

- Start a Nem community market with goods sole priced in NEM.

- start a fundraising campaign to get a 10-20 sec commercial on bbc,cnn( if allowed)

any other ideas you guys can think of?  

We should do that as a community. I hope our generally egalitarian community would help to kick-start a lot of good-will projects. 

[makoto1337]

NEM will have an asset market and also encrypted messaging, so something like that could replace Ebay if done right. The key is we need to work with shop owners to create a grassroots network of places accepting NEM. Places like your local pub. If you can get just regular places like that to accept NEM, then that will naturally create the infrastructure that we need.

[patmast3r]

Marketing NEM after fundraising

Ok Nem has done a good job attracting stakeholders with its initial equal distribution plan but what happens after the close of the fundraising?  Why would people choose to invest in NEM( apart from being a great coin ) instead of the other 100 or more crypto currencies when the carrot of a million Nem per stake no longer exists.

We need to think of ways to differentiate Nem from the competition. The following are few ideas that occurred in my mind.

nice to have people on board that are already thinking ahead

- The wallet should contain a small amount of NEM( 100Nem?) to entice people to download the wallet to properly see just how much better it is compared to other cryptos.

I think that's what giveaways and the begging area in forums are for. If you wan't to get NEMs from someone you need to register in our forum and therefore are already closer to actually become part of the community. Also who's stoping me from downloading the wallet on my 50 VMs that I randomly send over TOR nodes ?

- Stake holders should band together and sponsor good causes for goodwill. Raising money to help buy medical supply for our unfortunate friends in Syria, Sudan is a great way to do good while helping NEM cause too.

So true. Actually that's the real job of a stakeholder. If you want your stake gain value then that's what you have to do. Hard to say though how many of thousands of people will actually get this right (or even want to).

- Start a Nem community market with goods sole priced in NEM.

I think every forum has a market area where everyone can sell anything. My experience is however that that doesn't really take off.
Maybe with a dedicated website but then we're already building ebay and that may be a lot of work for such a young community. if we do it we should put the necessary time into it and get it right the first time.

- start a fundraising campaign to get a 10-20 sec commercial on bbc,cnn( if allowed)

I think TV commercials wont really do much but what do I know . I'm under the impression that the Reddit adds went really well so we might consider sponsor something like this again.

any other ideas you guys can think of?  

I think we should hold everything until we have our 2 websites and an exchange up. If we make a big fuzz about NEM with almost 0 infrastructure people will turn away and never comeback.
I know utopian has this parallel development plan but I think the community is coming together quite nicely and maybe we should slow down on that end a bit and wait until the technical part catches up.

Also look at this fellas:
http://www.cryptocoinsnews.com/2014/02/13/the-mathematically-secure-way-to-accept-zero-confirmation-transactions/

Maybe we could somehow built this into NEM in a way that makes it easier to calculate the "confidence" ? Jaguar what do you think ?
We could promote a 0 confirmation transaction time

[ashapasa]

zero confirmation transaction time is a neat idea , I hope the devs look into this.

[Fatih87SK]

Maybe I missed it, but who is going to make a client for NEM? Will it be built from scratch or are we going to use clients from NXT to make our own?

[utopianfuture]

i think you should close the stake holder list!!! keeping it open longer while knowing its purely new accounts just makes you look greedy! thats not a good image for a coin creator!

I have funding number and stakeholder number targets and they have been announced well in advance. You can read it in the front page when you fist register. Everything goes according to plan so far. Fundraising actually goes a bit too fast. 

[JakeThePanda]

Deleted my rant.

[utopianfuture]

i hope you will refund/cancle any stakes that are from the same btc/nxt accounts? even if there are sockpuppets i think this is goig to be good! oh whats the expected stake for regular stake?

The goal has always been to spread NEM widely and evenly (but not perfectly even) at the beginning distribution and I take that goal seriously. We have couple of plans to make that happen.

hi this is what I plan to share. NEM stakeholder's population statistics

https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdG1XYWlDemNENl9IaGR5ZHNUNTNhcmc#gid=0

Kooream complied this and he is half way through thread 2.

In my estimation, we already have around 1000 unique stakeholders in registration thread 1 alone.

[patmast3r]

Also, it annoys the hell out me that people get mad when developers or people working on the project get a decent stake.  Are they supposed to give everything away for free and keep nothing for their hard work?  This attitude just pisses me off.

Haven't come a across that so far but it doesn't actually suprise me.

[Stego50]

It is obvious that all initial stakeholding has been conducted fairly. As most of the new people have now taken part then at this later stage it is not surprising that some excited stakeholders are trying to get a few more of this most amazing opportunity. It's a tough world out there and they are trying to get ahead.
If the worst culprits still have less than 1% of stakeholding then this will have been the fairest distribution of all crypto currencies by far.

[Smokeymar]

I'm glad to be part of this project.

[Mrrr]

Correct me if I'm wrong but according to my fusion powered quantum ROI calculator we've struck gold here. 1 stake = 1 million NEM. If NEM were to be listed on any BTC exchange we'd see a minimum price of 1 satoshi per NEM. This equals 0.01 BTC per stake. We're rich!

[utopianfuture]

Correct me if I'm wrong but according to my fusion powered quantum ROI calculator we've struck gold here. 1 stake = 1 million NEM. If NEM were to be listed on any BTC exchange we'd see a minimum price of 1 satoshi per NEM. This equals 0.01 BTC per stake. We're rich!

It is too conservative. I will not stop until NEM's market capitalization at least reaching Litecoin's level.