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

[upekha]

POS / PON or POI forging will be use? I prefer POS / PON. But perhaps there are more arguments for POI ?

Our new P-O-I is a new innovative way of forging which I believe will make NEM a more sustainable system. Makoto is writing the white paper and when all the theoretical aspects are considered we will implement it in the core codes.

Would it be possible to implement a combination of POS, PON and POI? I think it would make the system really stable, because POS would give the incentive to invest in the currency, PON would encourage to support the network and POI would encourage to use the currency!

maybe a new forging-variable, which is a mix of the amount your holding & your activity?
the NEM-O-METER

[abofj]

POS / PON or POI forging will be use? I prefer POS / PON. But perhaps there are more arguments for POI ?

Our new P-O-I is a new innovative way of forging which I believe will make NEM a more sustainable system. Makoto is writing the white paper and when all the theoretical aspects are considered we will implement it in the core codes.

Would it be possible to implement a combination of POS, PON and POI? I think it would make the system really stable, because POS would give the incentive to invest in the currency, PON would encourage to support the network and POI would encourage to use the currency!

maybe a new forging-variable, which is a mix of the amount your holding & your activity?
the NEM-O-METER

interesting importance ...

Is it sure that importance is not close to PoW ?

[erkki12]

POS / PON or POI forging will be use? I prefer POS / PON. But perhaps there are more arguments for POI ?

Our new P-O-I is a new innovative way of forging which I believe will make NEM a more sustainable system. Makoto is writing the white paper and when all the theoretical aspects are considered we will implement it in the core codes.

Would it be possible to implement a combination of POS, PON and POI? I think it would make the system really stable, because POS would give the incentive to invest in the currency, PON would encourage to support the network and POI would encourage to use the currency!

maybe a new forging-variable, which is a mix of the amount your holding & your activity?
the NEM-O-METER

interesting importance ...

Is it sure that importance is not close to PoW ?

Yes as far I've understood it works so that the system analyzes the in and out transactions made from you account. The account which has most transactions will then be the one that has contributed most to the distribution of the coin and therefore has most hashing power. This will guarantee the circulation of the currency.

But we must here remember that it can not solely be POI because it will only encourage trading between the accounts that you've created. There must be a combination of some sort.

Also if POI is to be implemented it will be important IMO that there will be a account/alias bound reputation system.

But the major flaw that I see atm with POI is regarding the fact that you can just circulate coins between your own account and get hashing power that way. If this isn't prevented somehow I suggest that the forging will be at maximum 20% based on POI.

But these are all my speculations, I've got no legitimate knowledge on the mechanisms of POI. Lets just see that how the white paper turns out.

[ashapasa]

The fund raising is almost coming to an end and by all account is a huge success. We probably have more then 2500plus unique stakeholders thats huge.  Now perhaps it time to speed up the development of the actual product, my hands are literally itching to download a beta nem wallet( ala emunie).

I am not saying this to profit quickly but everyday a new coin is being launched and Nem could be buried under a deluge to crapcoins.We risk being labeled just another NXT clone, we simply cannot afford that.

The way nxt marketed themselves as the first second generation coin was very effective. WE need something similar, we need to be the first something.

how about: NEM The Ultimate Cryptocurrency Revolution

or            : NEM the final cryptocurrency evolution

oo           : NEM evolution at work

I know its a bold claim but maybe we can pull it off.

[lstern]

Also if POI is to be implemented it will be important IMO that there will be a account/alias bound reputation system.

But the major flaw that I see atm with POI is regarding the fact that you can just circulate coins between your own account and get hashing power that way. If this isn't prevented somehow I suggest that the forging will be at maximum 20% based on POI.

But these are all my speculations, I've got no legitimate knowledge on the mechanisms of POI. Lets just see that how the white paper turns out.

I guess the 0.1% fee can prevent artificial coin circulation if it´s implemented with some POI forging power cap.

[BitZCoin]

Hey, all out there.
I've read, it would be allowed to hold two stakes. One for each self and one for a loved person.
I also read, the stakes would be closed at page 90 of the second thread.
Now I would love to invest in a second stake, am I allowed to buy it or not?
Would love to get a fast answer before the threads are closed, or I transferred some Btc or NXT for not getting a stake.

Thanks a lot!

[patmast3r]

Hey, all out there.
I've read, it would be allowed to hold two stakes. One for each self and one for a loved person.
I also read, the stakes would be closed at page 90 of the second thread.
Now I would love to invest in another second stake, am I allowed to buy it or not?
Would love to get a fast answer before the threads are closed, or I transvered some Btc or NXT for not getting a second stake.

Thanks a lot!

You're a newbie so you'll have to introduce yourself in the thread and then pay the fee after that. Plz use the search function to find that introduction thread. Thank you.

[erkki12]

Also if POI is to be implemented it will be important IMO that there will be a account/alias bound reputation system.

But the major flaw that I see atm with POI is regarding the fact that you can just circulate coins between your own account and get hashing power that way. If this isn't prevented somehow I suggest that the forging will be at maximum 20% based on POI.

But these are all my speculations, I've got no legitimate knowledge on the mechanisms of POI. Lets just see that how the white paper turns out.

I guess the 0.1% fee can prevent artificial coin circulation if it´s implemented with some POI forging power cap.

Good point! But won't the 0.1% fee be a bit high considering the long term of the coin? If it gains success nobody will be willing to pay those transfer fees. The fee should at least have to possibility of being lowered in the future.

[BitZCoin]

Hey, all out there.
I've read, it would be allowed to hold two stakes. One for each self and one for a loved person.
I also read, the stakes would be closed at page 90 of the second thread.
Now I would love to invest in another second stake, am I allowed to buy it or not?
Would love to get a fast answer before the threads are closed, or I transvered some Btc or NXT for not getting a second stake.

Thanks a lot!

You're a newbie so you'll have to introduce yourself in the thread and then pay the fee after that. Plz use the search function to find that introduction thread. Thank you.

Thank you very much for the fast info!
I also have one stake, but if I'll do that you know for sure that I'll be able to hold a second one?

[patmast3r]

You can all read up on POI in the dev plan here: https://docs.google.com/document/d/1NhxTyi4Eo2D_1m1Ca8zvzQr0_RB0dgM2VuWXAIzcS-I/edit?pli=1

As I understand it it's pretty much a combination of 3 things. PON + POS + taking transactions into account = POI.
I think it's a very elegant and fair approach.

1. You get something for running a node and are therefore providing infrastructure to the network.
2. You get something for owning coins which makes you trustworthy to some extent because why would you want to hurt a currency that you own yourself ?
3. You get something for being a heavy user of the currency i.e. actually using it.

The point that someone could just circle coins is a good one but I don't think it's that much of a problem. For one you'd have to run different nodes as well because afaik only transactions between actually different nodes are being considered. It's not hard to run multiple nodes but it provides determent to some extent.
Secondly it reallly depends on the balance between the 3 factors of POI how harmfull such an attack could actually be.  

Jaguar has a lot to think about

[freigeist]

The way nxt marketed themselves as the first second generation coin was very effective. WE need something similar, we need to be the first something.

how about: NEM The Ultimate Cryptocurrency Revolution

or            : NEM the final cryptocurrency evolution


I know its a bold claim but maybe we can pull it off.

I would not use the words "ultimate" neither "final" as we don't know what future will bring us.
This words would suggest that there won't be any new or any better coin in the future.
I thing that we are not at the end of cryptocurrency evolution i think this is just the beginning.
As the name says "NEM" New Economy Movement this mens this is

NEW concept of wider distribution
1st POI/PON/POS coin
Beginning of new financial (re)volution

Actually the words "New Economy Movement" summarizes all that already.

Features of NEM, services built around NEM or on top of NEM and a wide fair distribution will be the
best marketing.

[Xpedite]

oo           : NEM evolution at work

I know its a bold claim but maybe we can pull it off.

I do like this one! 

[patmast3r]

oo           : NEM evolution at work

I know its a bold claim but maybe we can pull it off.

I do like this one! 

I think it'd be cool to have some wordplays that include nem. I'm sure many know HIMYM and the "Bro" wordplays like "Bropocalypse Now" and all the rest.
Can't think of one right now though.

[lstern]

Also if POI is to be implemented it will be important IMO that there will be a account/alias bound reputation system.

But the major flaw that I see atm with POI is regarding the fact that you can just circulate coins between your own account and get hashing power that way. If this isn't prevented somehow I suggest that the forging will be at maximum 20% based on POI.

But these are all my speculations, I've got no legitimate knowledge on the mechanisms of POI. Lets just see that how the white paper turns out.

I guess the 0.1% fee can prevent artificial coin circulation if it´s implemented with some POI forging power cap.

Good point! But won't the 0.1% fee be a bit high considering the long term of the coin? If it gains success nobody will be willing to pay those transfer fees. The fee should at least have to possibility of being lowered in the future.

I´m ok with a 0.1% fee even in the long-term. An average joe spending all his income using NEM will pay a couple of dollars in transaction fees every month. The real danger I see is the proposed minimum fee of 1 NEM ... evil for microtransactions.

[jkoil]

From the page 1 of Registration thread:

"After we reach a critical mass, we will launch the NEM genesis block, (we plan not to have more than 4000 accounts in total, see FAQ below). A total of 4 billion NEM will be distributed equally to all adopters."

adopters or stakes?


Another thing to be clarified:

http://en.wikipedia.org/wiki/Billion

    1,000,000,000,000, one million million, 10¹², bi-million 1,000,000² in the long scale
    1,000,000,000, one thousand million, 10⁹, in the short scale

[WinterParker]

I want a stake.

[patmast3r]

From the page 1 of Registration thread:

"After we reach a critical mass, we will launch the NEM genesis block, (we plan not to have more than 4000 accounts in total, see FAQ below). A total of 4 billion NEM will be distributed equally to all adopters."

adopters or stakes?


Another thing to be clarified:

http://en.wikipedia.org/wiki/Billion

    1,000,000,000,000, one million million, 10¹², bi-million 1,000,000² in the long scale
    1,000,000,000, one thousand million, 10⁹, in the short scale

It'll distributed among stakes and it should be short scale.

[patmast3r]

I want a stake.

https://bitcointalk.org/index.php?topic=440185.0

Hurry up ! It'll be over in 4 pages

[ultrastrong]

just saw the ANN yesterday, my name is David, fair distribution will be the key to win this competation. it's a smart move. i believe it will take over NXT soon after launch. who will buy NXT? if NEM will be the same as good as NXT  plus a fair distribution?

count me in
i will sent 0.075 btc soon

Thx

[tron666]

lol all those fake last min. accounts are hilarious.  Well congrats to all those who made 2-5 times buy ins in the last days!