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

[JakeThePanda]

look at mtgox, and then try to imagine that happening on a decentralised platform.

IMO, decentralized exchanges will never be mainstream with the general population, ever.  DEXs are a hotbed for scams and the public will never embrace them.  They will only be used by hardcore crypto users and eventually there will be tons of them.  I still don't even know what I would use it for.  Everyone is severely underestimating the public's need for customer service, support and at least a tiny bit of regulation to keep scammers in check.

[alex0909]

look at mtgox, and then try to imagine that happening on a decentralised platform.

IMO, decentralized exchanges will never be mainstream with the general population, ever.  DEXs are a hotbed for scams and the public will never embrace them.  They will only be used by hardcore crypto users and eventually there will be tons of them.  I still don't even know what I would use it for.  Everyone is severely underestimating the public's need for customer service, support and at least a tiny bit of regulation to keep scammers in check.

This, Change the word exchange by "money" or "bitcoin". And think twice. You don't get it.

I am a NEM stakeholder, and can't wait to see what is getting prepared in the shadows, the devs have all my trust.

NXT is delivering, and it is smooth as hell, just check the websites and marketing. The asset exchange is nice, but it is one of the features that will be launched this year, Atomic-cross chains will be the biggest one.

Don't fight NXT, we are onboard with you, most of us are following NEM.

[bigogiant]

The waiting list invitation period lasted 2 weeks and was over a coupe days ago, and now I would like to present you the NEM final stakeholder list in this link.

https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdFRROFFGVUpwcFFXcHVCdGc0a3NuQVE&usp=drive_web#gid=10

It was a long process lasting close to four months and filled with drama, and finally I am happy to say that it came to an end. The waiting list invitations were sent directly to 134 accounts in the waiting list thread and 91 of them has agreed to join in. This is the invitation letter I sent out:

https://docs.google.com/document/d/1q-Ew6-ac_3NmWHxO2O0WivNOP7Wz9sghTYS2tPWqd8E/edit

I am very happy that the majority of waiting list people agreed to join us not only because they sent the biggest donation to NEM development fund, but also because they are much more likely to be helpful to NEM than an average stakeholder in earlier stages (better selection process). For that I am thankful that you agreed to join us.  

As it is the stakeholder list now consists of 2844 stakeholders and that would leave 156 NEM shares (=156 million NEM) for the auction held later on. Minus a coupe of shares for corrections and addition, the shares for auction will be closer to 4% of the total NEM than 3% estimated earlier.

On the blockchain development, we have been working non-stop for three months with almost no off day (that is for the whole team, each of us sometimes takes a necessary break) and we are getting close to an Alpha release but not there yet. Personally, I can't be happier with the team we have and I expect much bigger things for our collaboration. First 3 months could just be a tiny step in the lifespan of NEM. I  have a longer commitment to NEM development and I hope stakeholders would share my view.

But if you do not, we will offer you some ways to sell all or a part of your stake soon. The first obvious way is to request a refund for your contribution. I will open a refund request soon and all refund requests would be honored (minus transaction fee) until the NEM official launch. We are also exploring some pre-launch trading options including issuing temporary tokens representing NEM stakes aka Maidsafe coin issuance style.

Gimre have been updating to you about coding progress in this thread regularly and we promise that we won't leave the community in the dark about what we are working on (except things that has a chance of being cloned easily by a competitor). However it should be kept in mind that "we are working on A" or" we plan to work on A" does not translate to "we promise to deliver A in". Priorities could change and we don't make feature promises until the features are production ready.

Finally, I would say relax, have some fun and wait for the Nemesis. I think at this point you can be sure that we are not running off with your money  

Good news! Its so amazing to be part of NEM!

[googlesearch]

I want to join the great project,dev,can I have a chance?thank you

- > auction, coming soon!

Why auction?

You have no confidence in NEM? Or for other reasons.

Why not directly to charity by NEM?

Why??
 

[zsuhsl]

The waiting list invitation period lasted 2 weeks and was over a coupe days ago, and now I would like to present you the NEM final stakeholder list in this link.

https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdFRROFFGVUpwcFFXcHVCdGc0a3NuQVE&usp=drive_web#gid=10

It was a long process lasting close to four months and filled with drama, and finally I am happy to say that it came to an end. The waiting list invitations were sent directly to 134 accounts in the waiting list thread and 91 of them has agreed to join in. This is the invitation letter I sent out:

https://docs.google.com/document/d/1q-Ew6-ac_3NmWHxO2O0WivNOP7Wz9sghTYS2tPWqd8E/edit

I am very happy that the majority of waiting list people agreed to join us not only because they sent the biggest donation to NEM development fund, but also because they are much more likely to be helpful to NEM than an average stakeholder in earlier stages (better selection process). For that I am thankful that you agreed to join us.  

As it is the stakeholder list now consists of 2844 stakeholders and that would leave 156 NEM shares (=156 million NEM) for the auction held later on. Minus a coupe of shares for corrections and addition, the shares for auction will be closer to 4% of the total NEM than 3% estimated earlier.

On the blockchain development, we have been working non-stop for three months with almost no off day (that is for the whole team, each of us sometimes takes a necessary break) and we are getting close to an Alpha release but not there yet. Personally, I can't be happier with the team we have and I expect much bigger things for our collaboration. First 3 months could just be a tiny step in the lifespan of NEM. I  have a longer commitment to NEM development and I hope stakeholders would share my view.

But if you do not, we will offer you some ways to sell all or a part of your stake soon. The first obvious way is to request a refund for your contribution. I will open a refund request soon and all refund requests would be honored (minus transaction fee) until the NEM official launch. We are also exploring some pre-launch trading options including issuing temporary tokens representing NEM stakes aka Maidsafe coin issuance style.

Gimre have been updating to you about coding progress in this thread regularly and we promise that we won't leave the community in the dark about what we are working on (except things that has a chance of being cloned easily by a competitor). However it should be kept in mind that "we are working on A" or" we plan to work on A" does not translate to "we promise to deliver A in". Priorities could change and we don't make feature promises until the features are production ready.

Finally, I would say relax, have some fun and wait for the Nemesis. I think at this point you can be sure that we are not running off with your money  

sounds good. can´t wait for the start

+1，But we'd better wait patiently, innovation is not easy，I believe NEM's dev team!

[hardshot]

I want to join the great project,dev,can I have a chance?thank you

- > auction, coming soon!

Why auction?

This will indicate a price for a single NEM Coin.

[googlesearch]

I want to join the great project,dev,can I have a chance?thank you

- > auction, coming soon!

Why auction?

This will indicate a price for a single NEM Coin.

Maybe it's for the greater good? You have no confidence in NEM? Or for other reasons.Why not directly to charity by NEM?

[mcjavar]

I want to join the great project,dev,can I have a chance?thank you

- > auction, coming soon!

Why auction?

This will indicate a price for a single NEM Coin.

Maybe it's for the greater good? You have no confidence in NEM? Or for other reasons.Why not directly to charity by NEM?

Could someone please describe what this auction is and how it will work?

[FuturistMind]

I want to join the great project,dev,can I have a chance?thank you

- > auction, coming soon!

Why auction?

This will indicate a price for a single NEM Coin.

Maybe it's for the greater good? You have no confidence in NEM? Or for other reasons.Why not directly to charity by NEM?

yeah it is for greater good of the coin.   Auctioning means confidence. Reason is that we as community thinks that it is cool idea to see how market evaluate NEM after alpha is launched.

[patmast3r]

I want to join the great project,dev,can I have a chance?thank you

- > auction, coming soon!

Why auction?

This will indicate a price for a single NEM Coin.

Maybe it's for the greater good? You have no confidence in NEM? Or for other reasons.Why not directly to charity by NEM?

Could someone please describe what this auction is and how it will work?

The remaining stakes will be distributed via an auction. UP explained somwhere hot it'll will work I can't find the post right now but it'll be a simple auction where the highest bidder wins.

[xtester]

I want to join the great project,dev,can I have a chance?thank you

- > auction, coming soon!

Why auction?

This will indicate a price for a single NEM Coin.

Maybe it's for the greater good? You have no confidence in NEM? Or for other reasons.Why not directly to charity by NEM?

Could someone please describe what this auction is and how it will work?

The remaining stakes will be distributed via an auction. UP explained somwhere hot it'll will work I can't find the post right now but it'll be a simple auction where the highest bidder wins.

This may be what you were looking for.

I agree. Our initial thought is to offer the first auction on the Alpha release to avoid scam accusation and we will take some times to build the brand up to that point. The likely method of auction is http://en.wikipedia.org/wiki/Multiunit_auction. We will write a more detail guidelines at least one week before the auction but that's something everyone can study first if they are interested in the auction. Uniform auction have been used for U.S Treasury auctions. You can read about the theories and empirical studies of this type of auction here http://www.treasury.gov/resource-center/fin-mkts/Documents/final.pdf  and here http://www.treasury.gov/resource-center/fin-mkts/Documents/upas2.pdf

[patmast3r]

I want to join the great project,dev,can I have a chance?thank you

- > auction, coming soon!

Why auction?

This will indicate a price for a single NEM Coin.

Maybe it's for the greater good? You have no confidence in NEM? Or for other reasons.Why not directly to charity by NEM?

Could someone please describe what this auction is and how it will work?

The remaining stakes will be distributed via an auction. UP explained somwhere hot it'll will work I can't find the post right now but it'll be a simple auction where the highest bidder wins.

This may be what you were looking for.

I agree. Our initial thought is to offer the first auction on the Alpha release to avoid scam accusation and we will take some times to build the brand up to that point. The likely method of auction is http://en.wikipedia.org/wiki/Multiunit_auction. We will write a more detail guidelines at least one week before the auction but that's something everyone can study first if they are interested in the auction. Uniform auction have been used for U.S Treasury auctions. You can read about the theories and empirical studies of this type of auction here http://www.treasury.gov/resource-center/fin-mkts/Documents/final.pdf  and here http://www.treasury.gov/resource-center/fin-mkts/Documents/upas2.pdf

thx

[nxtvisa]

only sell my stake for 20 btc 

+1,Total Market Cap  is 80,000BTC

[CECVW]

Hello,

any idea when we will be able to start trading NEM...will it be by the end of this month or June?

I see people talking about how much will be the value of 1 NEM

This is my theory of how much can be 1 NEM, if  NEXT has 1000,000,000 coins as its value right now its $0,03 and NEM has the tripple of the coins the logic is to think its value will be 3 times less so 1 NEM will be $0.01....what do you reckon?

Someone mentioned he would not sell his stake for less than 20BTC, I would not sell it either!

Thanks,

[patmast3r]

...
This is my theory of how much can be 1 NEM, if  NEXT has 1000,000,000 coins as its value right now its $0,03 and NEM has the tripple of the coins the logic is to think its value will be 3 times less so 1 NEM will be $0.01....what do you reckon?

Someone mentioned he would not sell his stake for less than 20BTC, I would not sell it either!

Thanks,

Sounds logical right ? However that's only the case if you consider NXT and NEM to have the exact same value per coin. Some may think NEM is more valuable other may think NXT is more valuable. It's not only the mere numbers that count.

[CECVW]

...
This is my theory of how much can be 1 NEM, if  NEXT has 1000,000,000 coins as its value right now its $0,03 and NEM has the tripple of the coins the logic is to think its value will be 3 times less so 1 NEM will be $0.01....what do you reckon?

Someone mentioned he would not sell his stake for less than 20BTC, I would not sell it either!

Thanks,

Sounds logical right ? However that's only the case if you consider NXT and NEM to have the exact same value per coin. Some may think NEM is more valuable other may think NXT is more valuable. It's not only the mere numbers that count.

I see your point patmast3r, but how do you measure the value? its people who put the value to it and how many people support it other than the charastestics of the coin, look a doge....its a coin with not new features and has great value.....it's marketing

Guys what are the reason you think NEM is more valuable than NEXT? The main one is the community behind it

[TauMuon]

Hello,

any idea when we will be able to start trading NEM...will it be by the end of this month or June?

I see people talking about how much will be the value of 1 NEM

This is my theory of how much can be 1 NEM, if  NEXT has 1000,000,000 coins as its value right now its $0,03 and NEM has the tripple of the coins the logic is to think its value will be 3 times less so 1 NEM will be $0.01....what do you reckon?

Someone mentioned he would not sell his stake for less than 20BTC, I would not sell it either!

Thanks,

NEM will have 4,000,000,000 coins.

[fragout]

...
This is my theory of how much can be 1 NEM, if  NEXT has 1000,000,000 coins as its value right now its $0,03 and NEM has the tripple of the coins the logic is to think its value will be 3 times less so 1 NEM will be $0.01....what do you reckon?

Someone mentioned he would not sell his stake for less than 20BTC, I would not sell it either!

Thanks,

Sounds logical right ? However that's only the case if you consider NXT and NEM to have the exact same value per coin. Some may think NEM is more valuable other may think NXT is more valuable. It's not only the mere numbers that count.

I see your point patmast3r, but how do you measure the value? its people who put the value to it and how many people support it other than the charastestics of the coin, look a doge....its a coin with not new features and has great value.....it's marketing

Guys what are the reason you think NEM is more valuable than NEXT? The main one is the community behind it

Like you said. Its the community. NXT had like 50 stakeholders at launch and NEM has 3000. Nxt stakeholders were organised however and didnt just dump at launch which led to the price rising and the coin gaining momentum. If NEM stakeholders show a little patience and promote the coin with the large number we have, everthing should be rosy

[Eadeqa]

Like you said. Its the community. NXT had like 50 stakeholders at launch and NEM has 3000.

Well, that is if you think we have 3000 unique users. No one really believes that. The real number is unknown (regardless of all the "stats" about older accounts)  but I doubt it's higher than 1000

 

[ElitistCA]

Lot of stakeholders will just dump, that is OK, what Im afraid is that many of them, (in case NEM will really go up after initial dump) may turn into hateful trolls.