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

[Eadeqa]

I didn't say NXT had a negative start. I said the only partially released source had a negative effect. So what I'm actually saying is that the NXT start could have been even better imho. With the at least partialy closed source it had kind of a bitter aftertaste.

There is no evidence this is true. This is pure speculation.  If there were clones of Nxt back in November just after IPO ended, I would say Nxt would not be where it is to today. It would be way down.

[1715289386]

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[1715289386]

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[patmast3r]

I didn't say NXT had a negative start. I said the only partially released source had a negative effect. So what I'm actually saying is that the NXT start could have been even better imho. With the at least partialy closed source it had kind of a bitter aftertaste.

There is no evidence this is true. This is pure speculation.  If there were clones of Nxt back in November just after IPO ended, I would say Nxt would not be where it is to say. It would be way down.

Of course this is speculation. Unless you own a crystall ball we'll never know

[Thingamajig]

Hello all,

I have been following you for quite a long time and I would love to have your coin in our exchange, we are not like any other exchange that have full of silly worthless coins. At Binary Fund we choose our crypto currencies wisely, we do our best to investigate and research a coin before adding it. Only coins that we think may have a future are added to the exchange. We don’t accept bribes or have paid voting systems. We have very few coins and we like to keep it that way but we would like to have your coin with us. www.binaryfund.com has been in Beta version since a few days ago and we are fully functional now. Please take a look at our exchange and tell us what you think. We are based in London. Please see below the explanations of Binary fund features.

WHAT IS BINARY FUND?

Binary Fund is a state of the art exchange platform for crypto currencies. It has been developed to meet the needs of those new to trading and experienced traders alike.

FEATURES
•Secure coin storage. Every coin is send to a cold storage wallet so only the Binary Fund crew can access it.
•Candle stick graphs for every market pair to view the price history.
•We allow bank transfer to deposit fiat into your account without going through a third party.
•We have trading pairs for trading with GBP, EUR and USD.
•User friendly website with adjustable market pairs. You can hide market pairs you’re not interested in.
•Withdrawal through PayPal and bank transfer.
•Regular competitions with crypto prizes.
•Lively and engaging chat.


DESIGN
Binary Fund is designed with the user in mind. Trading is laid out to make it as easy and powerful as possible. With a clean, clear, concise layout even new users will understand how the platform works in only a few minutes.

www.binaryfund.com

Looks good! Will you add NXT and later NEM?

Thanks marek3ball, we would like to add NEM with the permission of the owners  and not NEXT, I think NEM will do one million much better than NEXT because of it's wonderful community, I would like to invite you all to try our exchange and let us know what you think, we will welcome your ideas and add things you think will make us better, we have competitions where we give alt coins away

I came across your exchange a while ago, and from what i read, it looks pretty good.

On the release of NEM, I will very likely get myself authenticated on your site. I appreciate the consideration to add NEM.

[conbos]

I didn't say NXT had a negative start. I said the only partially released source had a negative effect. So what I'm actually saying is that the NXT start could have been even better imho. With the at least partialy closed source it had kind of a bitter aftertaste.

There is no evidence this is true. This is pure speculation.  If there were clones of Nxt back in November just after IPO ended, I would say Nxt would not be where it is to say. It would be way down.

Of course this is speculation. Unless you own a crystall ball we'll never know

my 2 NEMs in this discussion. I am favor of open source code also; but it is true that there is a wild world out there waiting for us. We should be really careful in that respect. The public launch should be, at least, a beta product, easy to install and be able to be immediately incorporated in a vast network of asset exchanges, trade exchanges colored coins (maybe) and a really really aggressive marketing campaign by the swarm team and the community in general. IMO, I agree that the NXT pre-launch was very promising and a lot of expectations were generated at late december (that were reflected in the price). But some bad decisions (DGEX fees just at the moment of the code release plus some technical failures) were bad enough to stop the price increase (then, it comes the market manipulation by big whales, but this is another story). If we manage to be at the news and be presented as a real innovation regarding BTC, I think we have a big chance to reproduce (or even surpass) NXT initial success
 

[Smokeymar]

I'm starting to think the NEM community is in a unique position that no other coin is or was ever in.  If the source code isn't released, do exchanges need the development team's permission to add NEM to their exchange?  If so, I think exchanges will be knocking down our door instead of the other way around. Yes?

[wiser]

How will the formal announcement be made? I'm not on the Forum as much as I used to be and want to make sure I don't miss it. Is there any way that you could send a notice via Forum PM or email?

Development update:

The development contract announcement will be delayed. My plan is to have the announcement when we have a clear road map of NEM development going forward and preferably within 1-2 weeks of the alpha launch. Unfortunately, at this point we don't have an ETA for the alpha launch yet and consequently, the formal announcement is delayed. My guesstimate of the Alpha is still on later part of April but there are quite a few things that needs to be worked on before we can make a solid ETA.

We currently have two repo, one for NEM infrastructure codes and one for NEM client codes and quite a few other concurrent projects going on. Progress is made on daily basis and team-quality wise I think we are as strong as Ethereum group except that NEM team and development are still in a stealthy mode.

NEM client would be called NEM community client (NCC) and here is NCC specification written by Thies1965. Feel free to comment on it.

https://docs.google.com/document/d/10ZVrzuS_krjRF5rMvt5oKl3IS3VOhF_qnn2faZb7KZQ/edit

These are some mock-up design of NCC

https://drive.google.com/folderview?id=0B9jSTPeGZxgtTjVncFlmMmJ6LW8&usp=sharing

I hope you like what NCC will look like in the future. Let me know if you are a developer and interested in working on expanding NEM ecosystem. I have some ideas about the future direction of NEM that I could share and I am very excited about it. Thanks.    

[bitmadaboutcoin]

hello long time since iv been on but glad i came on! the client looks so cool! any update on launch?

[Eadeqa]

I think we have a big chance to reproduce (or even surpass) NXT initial success

Nxt small number of stakeholder turned out to be advantage in manipulating prices (in nxt favor), as number of coins in circulation (on exchanges)  is lower than it could have been with wider initial distribution. Add the fact that there are 4 times more Nem (and many more people will be trading on exchanges)  I am not entirely sure how high would one Nem go. Plus things have changed with all crappy altcoins around. People are burnt out with buying alt clones then prices go down as developers dump big amount after initial pump.

We will see how it goes, but I am keeping expectations low.

[scg1000]

I waited what impact will have releasing of NXT code. The community thought that it will drive the price up, but in reality it did nothing for NXT, just many people trying to copy it. They didnt, but I heard those people saying they are not going to copy NXT code because it is strangely written.
Not sure how important releasing of code is, but think we should do something to prevent copying it.

First rule of economy says that resources are limited, thats what gives them value.
NEM must be valuebale. I totally stopped caring for 1.gen crypto, just because how much of them is in existence. Dont let that happend to NEM.

You're right the source release had no positive effect for NXT regarding the price. I think that witholding however did have an effect - a negative one.

Nxt didn't have "negative" start. They had the biggest gain in the history of ALTCOINS, ever. They turned 21 BTC to almost 100,000 BTC. The prices have dropped since releasing the code. If there was anything that had negative impact, it was the fact that it was different and required exchanges to do some work to add it -- not a single exchange that eventually added Nxt cared about code. Cryptsy owners still seem to think it's closed source, even though he added it to cryptsy.

Things have really changed in the last 2 months. It's much harder now to distinguish yourself from hundreds of coins.  Every week there are dozen more crapcoins released. I think you will find it will be hard this time to convince outsiders why they should even care about Nem when 100s of other coins are around. If you make it even more diluted with Nem clones, that will be just bad.

@Eadeqa as stated by @utopianfuture on the NEM Promotion Trello board yesterday:

"NEM is not a coin. NEM is more like a new technological platform which takes a huge amount of effort and time from core developers to create. In a technological sense NEM platform is not that different from Android or Facebook except that NEM infrastructure maintenance would depend on a decentralized effort...."

NEM is vastly different from those "crapcoins" you mention. Yes, it will be difficult gaining the audience of "outsiders". But with our community of 3000+ we'll get it done.

[utopianfuture]

I'm starting to think the NEM community is in a unique position that no other coin is or was ever in.  If the source code isn't released, do exchanges need the development team's permission to add NEM to their exchange?  If so, I think exchanges will be knocking down our door instead of the other way around. Yes?

Exchanges do not need the source codes, just the API to add new crypto. NEM API as well as wallet would certainly open to exchanges to test out.

[utopianfuture]

How will the formal announcement be made? I'm not on the Forum as much as I used to be and want to make sure I don't miss it. Is there any way that you could send a notice via Forum PM or email?

Development update:

The development contract announcement will be delayed. My plan is to have the announcement when we have a clear road map of NEM development going forward and preferably within 1-2 weeks of the alpha launch. Unfortunately, at this point we don't have an ETA for the alpha launch yet and consequently, the formal announcement is delayed. My guesstimate of the Alpha is still on later part of April but there are quite a few things that needs to be worked on before we can make a solid ETA.

We currently have two repo, one for NEM infrastructure codes and one for NEM client codes and quite a few other concurrent projects going on. Progress is made on daily basis and team-quality wise I think we are as strong as Ethereum group except that NEM team and development are still in a stealthy mode.

NEM client would be called NEM community client (NCC) and here is NCC specification written by Thies1965. Feel free to comment on it.

https://docs.google.com/document/d/10ZVrzuS_krjRF5rMvt5oKl3IS3VOhF_qnn2faZb7KZQ/edit

These are some mock-up design of NCC

https://drive.google.com/folderview?id=0B9jSTPeGZxgtTjVncFlmMmJ6LW8&usp=sharing

I hope you like what NCC will look like in the future. Let me know if you are a developer and interested in working on expanding NEM ecosystem. I have some ideas about the future direction of NEM that I could share and I am very excited about it. Thanks.    

Bookmark the first page of this thread and/or NEM Facebook and/or ournem.com and/or NEM reddit and check one of these sources at least one a week. The announcement will be featured in all of these at least 2 weeks before the official launch.

[abofj]

Good discussions lately, pushing up positivism in all the areas.
I hope nobody will crash it with tomorrow's April news

[utopianfuture]

I think we have a big chance to reproduce (or even surpass) NXT initial success

Nxt small number of stakeholder turned out to be advantage in manipulating prices (in nxt favor), as number of coins in circulation (on exchanges)  is lower than it could have been with wider initial distribution. Add the fact that there are 4 times more Nem (and many more people will be trading on exchanges)  I am not entirely sure how high would one Nem go. Plus things have changed with all crappy altcoins around. People are burnt out with buying alt clones then prices go down as developers dump big amount after initial pump.

We will see how it goes, but I am keeping expectations low.

I would be cautiously optimistic. Hopefully, Bitcoin and general crypto scene would be in a better state than it is now when we launch.

[TauMuon]

Hello all,

I have been following you for quite a long time and I would love to have your coin in our exchange, we are not like any other exchange that have full of silly worthless coins. At Binary Fund we choose our crypto currencies wisely, we do our best to investigate and research a coin before adding it. Only coins that we think may have a future are added to the exchange. We don’t accept bribes or have paid voting systems. We have very few coins and we like to keep it that way but we would like to have your coin with us. www.binaryfund.com has been in Beta version since a few days ago and we are fully functional now. Please take a look at our exchange and tell us what you think. We are based in London. Please see below the explanations of Binary fund features.

WHAT IS BINARY FUND?

Binary Fund is a state of the art exchange platform for crypto currencies. It has been developed to meet the needs of those new to trading and experienced traders alike.

FEATURES
•Secure coin storage. Every coin is send to a cold storage wallet so only the Binary Fund crew can access it.
•Candle stick graphs for every market pair to view the price history.
•We allow bank transfer to deposit fiat into your account without going through a third party.
•We have trading pairs for trading with GBP, EUR and USD.
•User friendly website with adjustable market pairs. You can hide market pairs you’re not interested in.
•Withdrawal through PayPal and bank transfer.
•Regular competitions with crypto prizes.
•Lively and engaging chat.


DESIGN
Binary Fund is designed with the user in mind. Trading is laid out to make it as easy and powerful as possible. With a clean, clear, concise layout even new users will understand how the platform works in only a few minutes.

www.binaryfund.com

Looks good! Will you add NXT and later NEM?

Thanks marek3ball, we would like to add NEM with the permission of the owners  and not NEXT, I think NEM will do one million much better than NEXT because of it's wonderful community, I would like to invite you all to try our exchange and let us know what you think, we will welcome your ideas and add things you think will make us better, we have competitions where we give alt coins away

I came across your exchange a while ago, and from what i read, it looks pretty good.

On the release of NEM, I will very likely get myself authenticated on your site. I appreciate the consideration to add NEM.

Me too. If this is the only NEM-Fiat exchange on launch, they've instantly made 3000 new customers. Great news!

[TauMuon]

hello long time since iv been on but glad i came on! the client looks so cool! any update on launch?

Check out the 'updates' section on the first post for any news:

Updates

1/19 : the fundraising began
2/17 : the fundraising closed
update 2/17 : plans ahead https://bitcointalk.org/index.php?topic=426303.msg5206938#msg5206938
update 2/19 : an unified stake holder list would be made on 2/22 which is three days from today. You need to file a complaint in the stake complaint thread by that day if you think you are a stakeholder but you are not on the list or on the list without Y.
update 2/21 : waiting list https://bitcointalk.org/index.php?topic=467027.msg5159558#msg5159558
update 2/24 : what is stakeholder list public auditing ? https://bitcointalk.org/index.php?topic=426303.msg5338775#msg5338775; unified stakeholder list published (check the link above)
update 3/2 : the stakeholder list public auditing begins. Read the rules here  https://bitcointalk.org/index.php?topic=496112.msg5463089#msg5463089
update 3/10: a short update on coding progress https://bitcointalk.org/index.php?topic=426303.msg5615748#msg5615748
update 3/10: logo committee is formed.
update 3/12: looking for a UI/ UX designer https://bitcointalk.org/index.php?topic=426303.msg5662029#msg5662029
update 3/12: future plans explained https://bitcointalk.org/index.php?topic=426303.msg5668983#msg5668983
update 3/29: development update https://bitcointalk.org/index.php?topic=426303.msg5973475#msg5973475

Launch will probably be late May/June with an alpha client coming our way late April.

[conbos]

I think we have a big chance to reproduce (or even surpass) NXT initial success

Nxt small number of stakeholder turned out to be advantage in manipulating prices (in nxt favor), as number of coins in circulation (on exchanges)  is lower than it could have been with wider initial distribution. Add the fact that there are 4 times more Nem (and many more people will be trading on exchanges)  I am not entirely sure how high would one Nem go. Plus things have changed with all crappy altcoins around. People are burnt out with buying alt clones then prices go down as developers dump big amount after initial pump.

We will see how it goes, but I am keeping expectations low.

I would be cautiously optimistic. Hopefully, Bitcoin and general crypto scene would be in a better state than it is now when we launch.

I hope so too!

[gentlemand]

I think we have a big chance to reproduce (or even surpass) NXT initial success

Nxt small number of stakeholder turned out to be advantage in manipulating prices (in nxt favor), as number of coins in circulation (on exchanges)  is lower than it could have been with wider initial distribution. Add the fact that there are 4 times more Nem (and many more people will be trading on exchanges)  I am not entirely sure how high would one Nem go. Plus things have changed with all crappy altcoins around. People are burnt out with buying alt clones then prices go down as developers dump big amount after initial pump.

We will see how it goes, but I am keeping expectations low.

I'd say that would be a long term bonus. It would make for a much deeper and more widespread market.

Any initial price explosions are likely to be very modest compared to more constricted coins, but it would make a functioning and realistic market that could last without ridiculous swings.

[emelac]

I think we have a big chance to reproduce (or even surpass) NXT initial success

Nxt small number of stakeholder turned out to be advantage in manipulating prices (in nxt favor), as number of coins in circulation (on exchanges)  is lower than it could have been with wider initial distribution. Add the fact that there are 4 times more Nem (and many more people will be trading on exchanges)  I am not entirely sure how high would one Nem go. Plus things have changed with all crappy altcoins around. People are burnt out with buying alt clones then prices go down as developers dump big amount after initial pump.

We will see how it goes, but I am keeping expectations low.

I'd say that would be a long term bonus. It would make for a much deeper and more widespread market.

Any initial price explosions are likely to be very modest compared to more constricted coins but it would make a functioning market that could last.

Sudden spikes in price are usually bubbles that do not last. Perhaps a slow sustained build up in NEM price could result in a sustained high NEM price eventually. Considering the number of stakeholders there will probably be some that dump and bring the price down early on, but the people who buy off them will probably hold them for longer to get a decent return on their investment.

[mr smith]

Yes things seem to be moving forward. As to talk of exchanges, it's incredibly difficult in the UK. There is Coinfloor that is on the go. Its registered with HMRC as a Bureau de Change however this means nothing. The owners had dealings with GLBSE that scammed $$$$$ and they operate out of a post box in London !
I am not slinging mud around but all i ask is that we use full due diligence when indeed the time comes to list on an exchange after all this is our NEM.  

[utopianfuture]

Yes things seem to be moving forward. As to talk of exchanges, it's incredibly difficult in the UK. There is Coinfloor that is on the go. Its registered with HMRC as a Bureau de Change however this means nothing. The owners had dealings with GLBSE that scammed $$$$$ and they operate out of a post box in London !
I am not slinging mud around but all i ask is that we use full due diligence when indeed the time comes to list on an exchange after all this is our NEM.  

I agree.