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

[patmast3r]

are there any thoughts on making NEM a POS coin with a multipool - like Blackcoin and Faircoin. Those two coins have really led the way in (relatively) stable (non-pump-and-dump) value creation for investors.

NEM is not going to be PoS.
The multipool thing has come up. I don't think there are any solid plans though.

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[TaunSew]

There's no solid evidence that PoS is the way to go.  PoS has been out for ages and NxT & Peercoin never dethrone LTC.

[jnuqsx]

Do we have a timeline when the coin will be launched?

No definite timelines as of now. Rough estimates are as follows:

• Stakeholder Social Contract (including final stakeholder list and development roadmap) - in time for the alpha client launch. Possibly a week or so sooner.
• Alpha client launch for testing - Late April 2014
• Launch - Late May 2014

Other F.A.Q.s here.

Good to know. Looking forward to Stakeholder Social Contract.

+1

[syntek]

Anybody know when the NEM whitepaper will be ready?

Currently no.

[TwinWinNerD]

There's no solid evidence that PoS is the way to go.  PoS has been out for ages and NxT & Peercoin never dethrone LTC.

You are always stating things, but why don't you do some research. There are very good whitepapers out there.

For example Peercoins POS had major flaws with the fact that it is free to forge on EVERY fork possible. So whenever a fork is happening, just run multiple instances of the client and try to forge blocks on every chain. This is not a behaviour you want in your algorythm.

NXT tried/tries to fix that, but it isn't implemented yes: Transparent forging.

Bitshares now released a whitepaper on exactaly this topic: http://107.170.30.182/security/delegated-proof-of-stake.php They call it delegated Proof of stake. But it is essentially transparent forging. And I am curious who will be first to implement it.

So there is good proof our there that POS is secure and doesn't have any big flaws. (if implemented correctly)

What you are most likely reffering to is, what is more successful with users... But users give a shit, miners do, but they will die out soon enough I bet.

[MouldyGorrilla9]

Is there any guesstimate on when stakeholders will be informed of how to claim their stakes (via BTT or other means)?

No - at least not an "official" one.
My personal guesstimate would be June - July. 

What makes you say that? That's over a month beyond the 'end of May' timeframe being quoted around...

[patmast3r]

Is there any guesstimate on when stakeholders will be informed of how to claim their stakes (via BTT or other means)?

No - at least not an "official" one.
My personal guesstimate would be June - July. 

What makes you say that? That's over a month beyond the 'end of May' timeframe being quoted around...

I know may is being quoted around I just don't know where that is coming from.
Like I said - personal guesstimate.

[TauMuon]

Is there any guesstimate on when stakeholders will be informed of how to claim their stakes (via BTT or other means)?

No - at least not an "official" one.
My personal guesstimate would be June - July.  

What makes you say that? That's over a month beyond the 'end of May' timeframe being quoted around...

I know may is being quoted around I just don't know where that is coming from.
Like I said - personal guesstimate.

Utopian gave those estimates in his update post here.

[Thingamajig]

There's no solid evidence that PoS is the way to go.  PoS has been out for ages and NxT & Peercoin never dethrone LTC.

I think PoS is the better alternative over Proof of work, for a number of reasons.

Firstly, Bitcoin is in some respects, reasonably popular - yet ridiculously difficult to mine.

If it ever achieved more widespread adoption, mining would be pointless for the average individual; and mostly in the hands of large corporations who mine or manufacturer's who make mining hardware. This hardly backs up it's "Decentralized" claim.


Nevermind that, but as difficulty increases, so does electricity consumption. Even now we see huge farms mining Bitcoin that consume vast amounts of electricity. On a wider scale, Bitcoin would consume vast sums of energy - this to me, makes PoW unsustainable, especially in the long term if it's ever to have wider aspirations (ie; worldwide adoption).

As a result, i went to PoS. I see more of a future in PoS than PoW. The difference is PoS needs to have the right start, i believe NEM has.

[TwinWinNerD]

There's no solid evidence that PoS is the way to go.  PoS has been out for ages and NxT & Peercoin never dethrone LTC.

I think PoS is the better alternative over Proof of work, for a number of reasons.

Firstly, Bitcoin is in some respects, reasonably popular - yet ridiculously difficult to mine.

If it ever achieved more widespread adoption, mining would be pointless for the average individual; and mostly in the hands of large corporations who mine or manufacturer's who make mining hardware. This hardly backs up it's "Decentralized" claim.


Nevermind that, but as difficulty increases, so does electricity consumption. Even now we see huge farms mining Bitcoin that consume vast amounts of electricity. On a wider scale, Bitcoin would consume vast sums of energy - this to me, makes PoW unsustainable, especially in the long term if it's ever to have wider aspirations (ie; worldwide adoption).

As a result, i went to PoS. I see more of a future in PoS than PoW. The difference is PoS needs to have the right start, i believe NEM has.

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Also I bet if NEM implements something like POW many people would be pissed. Because the promise was clearly 2.0 currency based on POS.

[Nxtblg]

Heads-Up To NEMers:

I would like to draw your attention to the 2nd announcement thread for Community Coin. The original post was made only ten days ago. The thread now has over two hundred pages.

This bodes very well for NEM. As the Community Coin thread shows, stakeholders get unbelievably enthusiastic when they get coins through a more-or-less fair process. I suggest you browse through that thread and see if you can pick up some rally points for the Big Launch Day.

Oh...an 'umble request to the devs: Could you shoot an Email to Graviton at Dgex and discuss how to make NEM straightforward for him to list? Graviton's listed NAS, and I'm sure he'd be pleased to list NEM. Myself I would love to pimp NEM through my Dgex siglink once launch day arrives!

[Simakki]

NEM is supposed to be superior currency, so that is the only thing that really matters.  
So, are there any evidence that POS's are way better than others and especially from economic perspective ?  

[rasmanki]

how can buy NEM stake? Is the pre-genesis exchange described by utopia out yet?

[TwinWinNerD]

how can buy NEM stake? Is the pre-genesis exchange described by utopia out yet?

You can't. the IPO and the waitinglist is over. You could convice someone to sell you his BTT-account with a stake. But I see so many ways how this could go wrong.

Just wait for the launch.

[eightspaces]

how can buy NEM stake? Is the pre-genesis exchange described by utopia out yet?

there is a method to get a stake still, u have to bribe utopia

i did the same and i am in the stakeholder list. send a pm with 'fucking parasite' to UP and u will get staked

[TwinWinNerD]

how can buy NEM stake? Is the pre-genesis exchange described by utopia out yet?

there is a method to get a stake still, u have to bribe utopia

i did the same and i am in the stakeholder list. send a pm with 'fucking parasite' to UP and u will get staked

hahaha . Yeah that will work :p

[jkoil]

There's no solid evidence that PoS is the way to go.  PoS has been out for ages and NxT & Peercoin never dethrone LTC.

I think PoS is the better alternative over Proof of work, for a number of reasons.

Firstly, Bitcoin is in some respects, reasonably popular - yet ridiculously difficult to mine.

If it ever achieved more widespread adoption, mining would be pointless for the average individual; and mostly in the hands of large corporations who mine or manufacturer's who make mining hardware. This hardly backs up it's "Decentralized" claim.


Nevermind that, but as difficulty increases, so does electricity consumption. Even now we see huge farms mining Bitcoin that consume vast amounts of electricity. On a wider scale, Bitcoin would consume vast sums of energy - this to me, makes PoW unsustainable, especially in the long term if it's ever to have wider aspirations (ie; worldwide adoption).

As a result, i went to PoS. I see more of a future in PoS than PoW. The difference is PoS needs to have the right start, i believe NEM has.

####

Also I bet if NEM implements something like POW many people would be pissed. Because the promise was clearly 2.0 currency based on POS.

was there a promise?

If there is some progress, then the "customers" cannot be dissatisfied, if they get something better than in the promise.
If not so lucky, then I guess the stakeholders, who are pissed of (for a reason or another) can take their stake/investment from NEM account to their own wallets.

[TwinWinNerD]

There's no solid evidence that PoS is the way to go.  PoS has been out for ages and NxT & Peercoin never dethrone LTC.

I think PoS is the better alternative over Proof of work, for a number of reasons.

Firstly, Bitcoin is in some respects, reasonably popular - yet ridiculously difficult to mine.

If it ever achieved more widespread adoption, mining would be pointless for the average individual; and mostly in the hands of large corporations who mine or manufacturer's who make mining hardware. This hardly backs up it's "Decentralized" claim.


Nevermind that, but as difficulty increases, so does electricity consumption. Even now we see huge farms mining Bitcoin that consume vast amounts of electricity. On a wider scale, Bitcoin would consume vast sums of energy - this to me, makes PoW unsustainable, especially in the long term if it's ever to have wider aspirations (ie; worldwide adoption).

As a result, i went to PoS. I see more of a future in PoS than PoW. The difference is PoS needs to have the right start, i believe NEM has.

####

Also I bet if NEM implements something like POW many people would be pissed. Because the promise was clearly 2.0 currency based on POS.

was there a promise?

If there is some progress, then the "customers" cannot be dissatisfied, if they get something better than in the promise.
If not so lucky, then I guess the stakeholders, who are pissed of (for a reason or another) can take their stake/investment from NEM account to their own wallets.

Well, 2.0 coins are pretty much defined by the possible features that are enabled by using POS. Bitshares, Ethereum, NXT ect... NEM said they want to compete. I doubt that they will attrack much people with a POW strategy. But then again, I could be completely wrong!

[jkoil]

Well, 2.0 coins are pretty much defined by the possible features that are enabled by using POS. Bitshares, Ethereum, NXT ect... NEM said they want to compete. I doubt that they will attrack much people with a POW strategy. But then again, I could be completely wrong!

I haven't noticed PoW plans ... last time there was PoI on the table... have I missed something?

[shaman2000]

how can buy NEM stake? Is the pre-genesis exchange described by utopia out yet?

there is a method to get a stake still, u have to bribe utopia

i did the same and i am in the stakeholder list. send a pm with 'fucking parasite' to UP and u will get staked

You are really funny man!