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

[mikesbmw]

What's with all the negativity about NAS?

They cost next to nothing and if there is a profit to be made: fine by me.

Perhaps it dies a quick death and maybe not.
It's like one of the 200+ altcoins that bring nothing new, but are there for our enjoyment and profits 

And now enough about NAS, this is a NEM topic! 

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[gemini22]

1. That's the argument that will one day have destroyed the planet. You know why that argument works ? Because everyone uses it. If noone would support mining noone would mine. Why should we not be the first to step up and say "screw it" to waste of computing power and energy ?
2. and then dump ? imho miners are not really healthy for a crypto. They are just in it for the money not to actually use the currency they are mining. (some may actually mine to support the currency but that's probably the minority)
3. Anyone can place limit orders that are automatically filled on an exchanges. I don't think that's a big point. Why would I acceppt a much worse rate when I can just wait a bit ?

1. Yes...  I understand where you're coming from...  it might be wise for NEM to not fund a multipool officially as a development project...  but how can NEM prevent someone from doing it anyway?
2. In this case...  the crypto they end up with is not the one they mined.  Dumps may come later down the line of course once value goes up...  some of it might be sucked up by new Demand from the multipool...  but it will be interesting to see.  I have my eyes on Blackcoin waiting to see how it will pan out too.  I guess if Demand from the multipools is out the picture...  it all comes down to general development of the respective crypto...  which takes us back to what you are saying!    
3. Some people are lazy/missing the know-how.

Yeah...well. I didn't actually mean to stop anyone from doing it. Just wanted to express my concerns

Agree. Keep NEM green. If someone wants to create a multipool, fine, but let's not officially endorse it as a development project.
 

[GreenDude]

This thread is not about Nas. Is about Nem.

[vonBerlichingen]

Believe in your own strengh.

[cryptonikus]

seems like every coin is now trying to do multipool, it is new obsession in cryptoscene.
I think that doing unofficial multipool would work best.

[schnidl]

seems like every coin is now trying to do multipool, it is new obsession in cryptoscene.
I think that doing unofficial multipool would work best.

what exactly is multipool? you mean like hashrate.org?

[hypersire]

seems like every coin is now trying to do multipool, it is new obsession in cryptoscene.
I think that doing unofficial multipool would work best.

what exactly is multipool? you mean like hashrate.org?

Well in the case of POS coins that cannot be mined, I believe the multipool mines other coins and then uses the proceeds to purchase the POS coin. Someone please correct me if I'm wrong.

[DontPanic_42]

let me think ... NAS is purely POS, like NXT, and there is one guy owning 20% of all the coins out there? like, a fifth of all the transaction fees go to the same guy?

currency allready doomed.

Lets have a look at the NEM rich list, 1 or 2 month after release.
Maybe you can buy NEM even cheaper than the stake price right after launch.
I think a lot of stakeholder from the first 25 pages, who paid nothing for their stakes, will dump their coins as soon as they can.
And I am sure some whales will buy it all and have something like 5% to maybe even 20% of all NEM eventually.

[TwinWinNerD]

let me think ... NAS is purely POS, like NXT, and there is one guy owning 20% of all the coins out there? like, a fifth of all the transaction fees go to the same guy?

currency allready doomed.

Lets have a look at the NEM rich list, 1 or 2 month after release.
Maybe you can buy NEM even cheaper than the stake price right after launch.
I think a lot of stakeholder from the first 25 pages, who paid nothing for their stakes, will dump their coins as soon as they can.
And I am sure some whales will buy it all and have something like 5% to maybe even 20% of all NEM eventually.

There was a guy that said he wants to buy 10-15% of all stakes. So there is that.

[hypersire]

let me think ... NAS is purely POS, like NXT, and there is one guy owning 20% of all the coins out there? like, a fifth of all the transaction fees go to the same guy?

currency allready doomed.

Lets have a look at the NEM rich list, 1 or 2 month after release.
Maybe you can buy NEM even cheaper than the stake price right after launch.
I think a lot of stakeholder from the first 25 pages, who paid nothing for their stakes, will dump their coins as soon as they can.
And I am sure some whales will buy it all and have something like 5% to maybe even 20% of all NEM eventually.

There will definitely be people dumping their stakes looking for some quick BTC. Of course, there will be plenty of people, myself included, waiting to scoop them up 

[TaunSew]

A distribution of this scale has never been done before.  It's hard to say how 3000 stakeholders are going to behave.

I'm inclined to believe it's easier for 1 whale to dump than to convince 300 to do so but we'll see.

[TaunSew]

Is an alpha test by the end of the month a guarantee?

[gentlemand]

A distribution of this scale has never been done before.  It's hard to say how 3000 stakeholders are going to behave.

I'm inclined to believe it's easier for 1 whale to dump than to convince 300 to do so but we'll see.

That's definitely going to be one of its most fascinating aspects. Perhaps it'll start off as the first crypto with a market cap that bears a tiny bit of relation to reality.

[winnipegc]

A distribution of this scale has never been done before.  It's hard to say how 3000 stakeholders are going to behave.

I'm inclined to believe it's easier for 1 whale to dump than to convince 300 to do so but we'll see.

I hope that the rest of the 3000 stakeholders aren't going to pump-and-dump. My gut instinct says it'll be fine.

We should be in this for the long-haul because we believe in NEM.

There are too many alt-coins out there, and most will come and go, but NEM is here to stay.

[patmast3r]

Is an alpha test by the end of the month a guarantee?

No.
Noone can guarantee anything. Even major companies run into hickups sometimes and have to delay stuff. If that happens to huge companies it can happen to people working on a project in their free time.

I'm not saying there absolutely won't be an alpha. I'm saying shit happens.

[ashapasa]

NEM should take all the time it needs, no need to rush at all. A month or two is nothing in the long run.

[Malna01]

Faircoin is already out; they claim to be full PoS, very well distributed and with a strong community backed up.
They got a nice increase but they are still far from the top 5 coins.
In any case, since it shares some features with NEM it will be interesting to see its evolution. It is important also to, at some point makes the difference between NEM and FairCoin. They are already on the market and if the idea of having igualitarian coins gets popular, we will loose novelty in out of our major and attractive features.
Being said that, I am not impatient; but it would be nice if the devs can give us some update of the status of the project; what are the actual difficulties and some opinion if there will be delays or not. It can be informative for the community
Thanks!

[upekha]

let me think ... NAS is purely POS, like NXT, and there is one guy owning 20% of all the coins out there? like, a fifth of all the transaction fees go to the same guy?

currency allready doomed.

Lets have a look at the NEM rich list, 1 or 2 month after release.
Maybe you can buy NEM even cheaper than the stake price right after launch.
I think a lot of stakeholder from the first 25 pages, who paid nothing for their stakes, will dump their coins as soon as they can.
And I am sure some whales will buy it all and have something like 5% to maybe even 20% of all NEM eventually.

At First, this is why NEM is PoI.
Second, alot of stakeholders are in for the long run, so I don't think many people just dump their coins completly.
maybe sell high, and buy more when its cheap.

[ashapasa]

We need buyers and sellers, Nem is a currency afterall. Some will hold others will sell and its a good thing.

[Hacer88]

I will deatHODL.