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

[siva_gami1203]

Interesting times. Am very curious what price the stakes will reach at auction.

max 5 btc. beyond that there will not be a good return for those winning the bids

And you say that based on what?

5 btc would put NEM at 20000 BTCs which is roughly around $10M. My guess is NEM would have a market cap of 50 - 70M in the initial weeks. Wouldn't those bidding expect a return of 500%?

Well this is my opinion.

[bluewhackadoo]

Interesting times. Am very curious what price the stakes will reach at auction.

max 5 btc. beyond that there will not be a good return for those winning the bids

And you say that based on what?

5 btc would put NEM at 20000 BTCs which is roughly around $10M. My guess is NEM would have a market cap of 50 - 70M in the initial weeks. Wouldn't those bidding expect a return of 500%?

Well this is my opinion.

Despite my real world energy drink transaction at a .50 USD exchange rate I would say 50 - 70M out the box is an ambitious market cap projection.

[robertjr]

To UF:

I saw some of my clients on the refund list.

These are people I know in my personal life and I recommended investing in NEM for them.

I acted as a broker for them because they are not very knowledgeable about crypto or advanced in PC use.

They have already paid me fiat for their stake and were patiently waiting for me to update them on the status of the coin.

They are as follows:

nateM7654
annT78
camaronloco
mich38754
eylucu4531
michaelW8796i

I had already talked to you prior to this to make sure it was ok to act as broker for other people who are not very aware of these forums/crypto coin scene.

And yes I did create an account for each because that's how you stated I should go about investing for them.

Here is your original response:

Yes that should be the way because your friend represents the new account. So make a new account for him and reserve a stake from that account. You can send NXT from the same address as well (maximum 2 stake per address).

1 NEM share would have > 1 million NEM. So there are many to share. No need to buy a lot of stakes. Thanks for supporting NEM.

Thank you for clearing this up.  I will get to it as soon as possible.

For the greedy it might be good for a while, but they will always lose out in the end. That's my philosophy and experience.

I would give him one additional stake to divide between the six and refund the other five spots. 166,666 NEM (1M/6) each is still a lot.

It's not fair, I had discussed this with UtopianFuture in order to avoid all of these problems.

I did everything transparent to make sure that UF knew I wasn't a scammer, I was just helping other people in my life invest into NEM.

Now I have to refund their money, lose their trust, and even lose money because I bought NXT at a higher price to buy into NEM.

I still see no reply to my post from dev.

I did all of this before I proceded to take people's investment, he assured me it was ok so I was paid fiat by these people.

They get in touch with me almost weekly to keep them updated, now I have to tell them we are being called scammers and give them money + some of my money back.

I have already been scammed out of BTC from other scam/fake coins.

If this doesn't go through, I will stay away from cryptocoins until a real company develops a real working product.

The whole point to crypto was to be decentralized money for the world, but with all the scams and fake accusations like NEM is doing, many people like me will back out and instead wait until a competent company with a real coin and devs shows up. This will inevitably cancel out the revolutionary idea behind cryptos.

It was only a suggestion, and it was overly fair. There is zero activity on your six "friends" accounts and so far they have been no benefit to NEM. Tell your "friends" about the auction.

[siva_gami1203]

Interesting times. Am very curious what price the stakes will reach at auction.

max 5 btc. beyond that there will not be a good return for those winning the bids

And you say that based on what?

5 btc would put NEM at 20000 BTCs which is roughly around $10M. My guess is NEM would have a market cap of 50 - 70M in the initial weeks. Wouldn't those bidding expect a return of 500%?

Well this is my opinion.

Despite my real world energy drink transaction at a .50 USD exchange rate I would say 50 - 70M out the box is an ambitious market cap projection.

I thought its a realistic projection. Whats your projection?

[TwinWinNerD]

Interesting times. Am very curious what price the stakes will reach at auction.

max 5 btc. beyond that there will not be a good return for those winning the bids

And you say that based on what?

5 btc would put NEM at 20000 BTCs which is roughly around $10M. My guess is NEM would have a market cap of 50 - 70M in the initial weeks. Wouldn't those bidding expect a return of 500%?

Well this is my opinion.

Even if someone was willing to pay 5 or 10 BTC per stake, the people selling their stake would much lower the price, because at over 2-3 BTC, many people would sell to realize their profit!

[twistelaar]

LOL

[dzarmush]

Interesting times. Am very curious what price the stakes will reach at auction.

max 5 btc. beyond that there will not be a good return for those winning the bids

And you say that based on what?

5 btc would put NEM at 20000 BTCs which is roughly around $10M. My guess is NEM would have a market cap of 50 - 70M in the initial weeks. Wouldn't those bidding expect a return of 500%?

Well this is my opinion.

Even if someone was willing to pay 5 or 10 BTC per stake, the people selling their stake would much lower the price, because at over 2-3 BTC, many people would sell to realize their profit!

Well, at least we'll see how this distribution model works. Lots of people got their stakes for free. I got mine for 10 Nxt ) Even 1 btc will be a great return.

Also 10 Btc for 1M Nem is crazy. There are 4B coins which makes Nem at least 4 times cheaper than Nxt and 250K Nxt cost about 12.5 btc now. I can't imaging somebody buying 1M Nem even for 5 btc. Not before Nxt costs x10 from today price.

[twistelaar]

where can I find the final stake holder list? Can't see it on page 1. thanks

[Hollowman338]

Interesting times. Am very curious what price the stakes will reach at auction.

max 5 btc. beyond that there will not be a good return for those winning the bids

And you say that based on what?

5 btc would put NEM at 20000 BTCs which is roughly around $10M. My guess is NEM would have a market cap of 50 - 70M in the initial weeks. Wouldn't those bidding expect a return of 500%?

Well this is my opinion.

Even if someone was willing to pay 5 or 10 BTC per stake, the people selling their stake would much lower the price, because at over 2-3 BTC, many people would sell to realize their profit!

Shortsighted.  Good to weed out the weak in the beginning 

[Hollowman338]

Interesting times. Am very curious what price the stakes will reach at auction.

max 5 btc. beyond that there will not be a good return for those winning the bids

And you say that based on what?

5 btc would put NEM at 20000 BTCs which is roughly around $10M. My guess is NEM would have a market cap of 50 - 70M in the initial weeks. Wouldn't those bidding expect a return of 500%?

Well this is my opinion.

Even if someone was willing to pay 5 or 10 BTC per stake, the people selling their stake would much lower the price, because at over 2-3 BTC, many people would sell to realize their profit!

Well, at least we'll see how this distribution model works. Lots of people got their stakes for free. I got mine for 10 Nxt ) Even 1 btc will be a great return.

Also 10 Btc for 1M Nem is crazy. There are 4B coins which makes Nem at least 4 times cheaper than Nxt and 250K Nxt cost about 12.5 btc now. I can't imaging somebody buying 1M Nem even for 5 btc. Not before Nxt costs x10 from today price.

We are NEM.  Who is this NXT?   

[Simakki]

I dont understand why people still compare NEM to the NXT, lead nowhere.

After auction there will be a realistic valuation, but this should be the market cap before launch. Im gonna hold majority of my NEM coins, because if everything goes like the devs have projected, NEM should be totally different than this older alts or btc and after 1-2 years we'll see how it has worked. It is little bit sad that so many of the guys just want to make a quick profit.

[TwinWinNerD]

Interesting times. Am very curious what price the stakes will reach at auction.

max 5 btc. beyond that there will not be a good return for those winning the bids

And you say that based on what?

5 btc would put NEM at 20000 BTCs which is roughly around $10M. My guess is NEM would have a market cap of 50 - 70M in the initial weeks. Wouldn't those bidding expect a return of 500%?

Well this is my opinion.

Even if someone was willing to pay 5 or 10 BTC per stake, the people selling their stake would much lower the price, because at over 2-3 BTC, many people would sell to realize their profit!

not really.. if people are willing to bid for a stake pre launch then it shows how much demand there is for stakes... the more demand the more people will want to hold and see what happens... but there is always a point when the rice price is reached.. for me for a nem stake it would be atleast 6-7 btc... no less...

If NEM stakes get traded at 5-10 BTC I will sell mine and rebuy NEM at launch. Just because EVERY other coin launch had significant dips at the launch. I want to be part of this project, but I also have some common sence that his project wont be valued at 20-30k BTC from the early start.

[amsshel]

I am new to BTT. how can I buy a stake?

[samysamy1]

Been thinking about it for a while and looking at the complaint thread makes me laugh:
It's like some have reserved a stake for their partner, their mother, father, son, daughter, sister, brother, uncle, aunty, grandpa, grandma, maybe even created an account for an unborn child  
I think no one should have more than 1 per household, and if you have friends you should share your stake with them, I mean that's what real friends do  

[Hollowman338]

I am new to BTT. how can I buy a stake?

At the upcoming public auction.

[Rich1970]

Are there any app programmers out there that can make a simple NEM wallet for a smartwatch? I will help add to the development bounty if this ever becomes a project.

Here is a teardown of Samsung's new Gear 2 smartwatch www.ifixit.com/Teardown/Samsung+Gear+2+Teardown/23990 Some neat features include immersion up to 1 meter of water, 2MP camera, heartrate monitor and IR TV remote.

I know a developer who make a payment app for Pebble https://getpebble.com/. The last time I talked to him about Bitcoin he is not that interested but that was just a brief mentioning of Bitcoin. Anyway if that's the something the community wants then at some point it is best starting to look for a developer and contract him. Bounty system works best when it is really big and got advertised massively.

This looks really promising!

Coindesk's article about Wearable Technology:
www.coindesk.com/can-wearable-tech-bitcoin-revamp-mobile-payments

Motorola and LG are also making a Smartwatch.

Moto360:
www.engadget.com/2014/03/18/this-is-motorolas-new-android-wear-smartwatch-moto-360
www.engadget.com/2014/03/19/moto-360-designer

G Watch:
www.engadget.com/2014/03/18/lg-g-watch-android-wear

On a unrelated side note, Google is working on a modular smartphone.
www.engadget.com/2014/04/15/project-ara-modular-smartphone

[GeorgeW]

At the upcoming public auction.

When is the auction? Is there a date set for NEM's launch yet?

[nxtvisa]

Happy birthday NEM thread!

+1

+1000;Hits 400 pages soon

[minerfool]

what will be the details of the auction?  Will it be blind, where everyone submits a closed bid?

[nxtvisa]

At the upcoming public auction.

When is the auction? Is there a date set for NEM's launch yet?

I guess soon, I suggest you look at every day NEM forums and community updates, you'll know the exact date。