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

[nzminer]

Any ideas on what NEM will be trading at once alpha launches?

[crackerhead]

I wrote up kind of a  "how-to"/news article, to help people with setting up IRC.

Check it out!

http://news.nemcoin.com/join-ournem-on-irc/

[TwinWinNerD]

Any ideas on what NEM will be trading at once alpha launches?

Still on the NXT AE.

Alpha coins will not be real.
Beta coins will neither.

Only launch coins will be real and will be most likely first traded on dgex, poloniex or bittrex.

[nzminer]

Any ideas on what NEM will be trading at once alpha launches?

Still on the NXT AE.

Alpha coins will not be real.
Beta coins will neither.

Only launch coins will be real and will be most likely first traded on dgex, poloniex or bittrex.

I thought the coins would be real on alpha?

[TwinWinNerD]

Any ideas on what NEM will be trading at once alpha launches?

Still on the NXT AE.

Alpha coins will not be real.
Beta coins will neither.

Only launch coins will be real and will be most likely first traded on dgex, poloniex or bittrex.

I thought the coins would be real on alpha?

No, and honestly, why would you want them to be real in alpha stage? The client will have major bugs in this phase, that is why it is called alpha release!

[nzminer]

Any ideas on what NEM will be trading at once alpha launches?

Still on the NXT AE.

Alpha coins will not be real.
Beta coins will neither.

Only launch coins will be real and will be most likely first traded on dgex, poloniex or bittrex.

I thought the coins would be real on alpha?

No, and honestly, why would you want them to be real in alpha stage? The client will have major bugs in this phase, that is why it is called alpha release!

Well tons of coins were launched in alpha and beta, including darkcoin, bitcoin etc.
Other people have said it will be the real thing. IDK

[Pugsare4mugs]

Any ideas on what NEM will be trading at once alpha launches?

Still on the NXT AE.

Alpha coins will not be real.
Beta coins will neither.

Only launch coins will be real and will be most likely first traded on dgex, poloniex or bittrex.

I thought the coins would be real on alpha?

No, and honestly, why would you want them to be real in alpha stage? The client will have major bugs in this phase, that is why it is called alpha release!

I'm slightly confused...

Utopian said they're fake:

Testnest use test coins. Monopoly money which will be destroyed when we move to the mainnet.

Gimre said they're real:

alpha testnet, beta - most likely REAL thing

Whut..?

[nzminer]

Any ideas on what NEM will be trading at once alpha launches?

Still on the NXT AE.

Alpha coins will not be real.
Beta coins will neither.

Only launch coins will be real and will be most likely first traded on dgex, poloniex or bittrex.

I thought the coins would be real on alpha?

No, and honestly, why would you want them to be real in alpha stage? The client will have major bugs in this phase, that is why it is called alpha release!

I'm slightly confused...

Utopian said they're fake:

Testnest use test coins. Monopoly money which will be destroyed when we move to the mainnet.

Gimre said they're real:

alpha testnet, beta - most likely REAL thing

Whut..?

Exactly why im confused now.
Ive sold my NEM stake until i know for sure.

All i know is NXT has testnet running alongside the real thing so i would have assumed both are seperate.

[TwinWinNerD]

Any ideas on what NEM will be trading at once alpha launches?

Still on the NXT AE.

Alpha coins will not be real.
Beta coins will neither.

Only launch coins will be real and will be most likely first traded on dgex, poloniex or bittrex.

I thought the coins would be real on alpha?

No, and honestly, why would you want them to be real in alpha stage? The client will have major bugs in this phase, that is why it is called alpha release!

I'm slightly confused...

Utopian said they're fake:

Testnest use test coins. Monopoly money which will be destroyed when we move to the mainnet.

Gimre said they're real:

alpha testnet, beta - most likely REAL thing

Whut..?

Exactly why im confused now.
Ive sold my NEM stake until i know for sure.

All i know is NXT has testnet running alongside the real thing so i would have assumed both are seperate.

Well, if you call Bitcoin Beta still a Beta, then yeah, NEM will also use real coin in the later beta versions. (Bitcoin is still in beta!)

But the first open beta launch will most definately on testnet. Wouldn't make any other sence. The network needs to be stresstested.

[Pugsare4mugs]

Maybe what Gimre really meant was:

Alpha: testnet

Beta: most likely REAL thing

This makes sense as I remember reading posts saying the beta will be the 'launch'. Hopefully our mutual confusion will be cleared up by a dev.

[jkoil]

Can anyone explain why so NXT increased in price over the last 2 days.
This very interesting and it should affect the NEM

There may be a factor: A Chinese cryptocurrency exchange (http://www.btc38.com/trade.html?btc38_trade_coin_name=nxt) opened NXT's trade soon
A few months ago, Dogecoin  same.

hehe, I will have offee with the boss of a chinese cryptocurrency exchange.We are discussing this question this weekend.

You can go to Coinmarket cap, click on the price and see where the volume is coming from.  This is Chinese volume from BTER.   (Which typically is followed by BTC38).

Many bosses of the chinese cryptocurrency exchanges are my friends.I think all of them are the best.

When you have such friends, you can make some informative gallups about the cryptocurrencies

[utopianfuture]

Maybe what Gimre really meant was:

Alpha: testnet

Beta: most likely REAL thing

This makes sense as I remember reading posts saying the beta will be the 'launch'. Hopefully our mutual confusion will be cleared up by a dev.

Alpha = 100% testnet and monopoly money. Beta = Likely to be in the testnet for the first phase and then move to the main-net (with real stake and coins). It is still undecided whether nemesis block is on launch day or in beta. It doesn't make much difference imo.

NEM Beta will include some special features. Even NEM open Alpha will likely include special features that are not in other coin's launch. For example: NIS codes for secure messaging have been completed and just need GUI to be on Open Alpha. Secure messaging is not even in Nxt NOW 9 month after the coin launch. Talk about the difference between one system's alpha and the other system's so-call advanced stage.

NEM beta will include features that have never been in any other system. What are they ? We cannot tell you because the codes are not completed and there are some uncertainty in the implementation. However, there will be at least one special feature moving from NEM Alpha to NEM Beta.

[alamazean]

This is going to be huge. I am confident NEM will explode (once the initial dumpers take quick profits).

[lstern]

Maybe what Gimre really meant was:

Alpha: testnet

Beta: most likely REAL thing

This makes sense as I remember reading posts saying the beta will be the 'launch'. Hopefully our mutual confusion will be cleared up by a dev.

Alpha = 100% testnet and monopoly money. Beta = Likely to be in the testnet for the first phase and then move to the main-net (with real stake and coins). It is still undecided whether nemesis block is on launch day or in beta. It doesn't make much difference imo.

NEM Beta will include some special features. Even NEM open Alpha will likely include special features that are not in other coin's launch. For example: NIS codes for secure messaging have been completed and just need GUI to be on Open Alpha. Secure messaging is not even in Nxt NOW 9 month after the coin launch. Talk about the difference between one system's alpha and the other system's so-call advanced stage.

NEM beta will include features that have never been in any other system. What are they ? We cannot tell you because the codes are not completed and there are some uncertainty in the implementation. However, there will be at least one special feature moving from NEM Alpha to NEM Beta.

Amazing work. I noticed that there's a lot of useful updates on facebook page that does a nice job keeping the good expectations for nem. Kudos for the team.

[li_ink]

This is going to be huge. I am confident NEM will explode (once the initial dumpers take quick profits).

Nice point! i agree with you.

[Jaguar0625]

Wow, after reading about how PoS and forging works in NXT, I think POI is a much better idea. I don't have a mountain of NXT so there really isn't much of an incentive for me to leave the server portion running. To me, the more people that contribute to the network the more secure it is (decentralization), and as the currency dilutes, more people will be in the same position. More people will hoard to create stake and that defeats the point of a currencies fluidness. If you want to use the currency as a store of wealth (gold, you don't transact in it, just keep it for stability), fine. But, for a "fiat" to succeed by its' very nature, a lot of people need to want and use it.

Maybe I don't fully understand PoS, but this just doesn't feel all that terrific. Still, better than PoW I think...

Also, on the one hand, I like the idea that perhaps increasing one's node(s) with infrastructure results in a direct benefit (like adding infrastructure to a utility and increasing customer base). If I want to be a big participant I can do it on my own dime for fun and it benefits the network. On the other hand, it seems like it might encourage centralization again if folks wanted to build huge node farms then we are back to ASIC farm dangers again. So it is almost like you need some sort of "difficulty" co-efficient like in mining where the participating nodes have scale to a point and then diminishing returns. I have no idea how you'd enforce that as any method I can think of easily bypassed (by IP? by client ID?, etc.)

Enlighten me if you know better. I'll need to pour over the NEM POI docs.

(This may be offtopic so feel free to ignore)

In NXT to don't secure the network when you forge with a small NXT balance, that is why you don't get any rewards. If you run a node with few NXT you "stabilize" the network, but for security purposes you don't add anything. That is the reason why the Balanceforging/Totalbalanceforging blockforgingchance was introduced. This can't be exploited. If the POI can be exploitet is yet to be seen.

Why do you think that if there are two identical nodes the one owned by the wealthier NXTer will add more stability to the network? Both nodes will do the same verification of blocks and transactions. The only difference is the frequency of forged blocks, which the larger account holder will be able forge more quickly.

[Jaguar0625]

Maybe what Gimre really meant was:

Alpha: testnet

Beta: most likely REAL thing

This makes sense as I remember reading posts saying the beta will be the 'launch'. Hopefully our mutual confusion will be cleared up by a dev.

Alpha = 100% testnet and monopoly money. Beta = Likely to be in the testnet for the first phase and then move to the main-net (with real stake and coins). It is still undecided whether nemesis block is on launch day or in beta. It doesn't make much difference imo.

NEM Beta will include some special features. Even NEM open Alpha will likely include special features that are not in other coin's launch. For example: NIS codes for secure messaging have been completed and just need GUI to be on Open Alpha. Secure messaging is not even in Nxt NOW 9 month after the coin launch. Talk about the difference between one system's alpha and the other system's so-call advanced stage.

NEM beta will include features that have never been in any other system. What are they ? We cannot tell you because the codes are not completed and there are some uncertainty in the implementation. However, there will be at least one special feature moving from NEM Alpha to NEM Beta.

The current NEM roadmap is alpha -> beta -> release -> v1 completion

Alpha
The alpha will be launching soon and will have many of the announced NEM features. The goal of the alpha is to show everyone what we've been working on the last few months and let them play with it and give feedback. Most importantly, it should be a starting point for other developers to build on top of NEM. In order for NEM to be a success, it needs to have a thriving community and a lot of skunksworks projects by community members. All of the successful coins have strong ecosystems, and NEM needs one too. (NEM is off to a great start in this respect, but it's important to keep up the momentum).

Beta
The core dev team has 3-5 super secret features to work on during this time that we're really excited about. Once they're stable, NEM will enter Beta where NEM V1 will be feature complete. The Beta period will be mostly for stabilization and bug bashing.

Release
Once the Beta proves resilient, NEM will officially be released, and the NEMesis block will be created on main-net.

V1
After the release, the focus will shift to the NEM asset exchange. Upon completion of the asset exchange, the NEM V1 blockchain will be completed, and who knows what will happen after that?

[xtester]

Maybe what Gimre really meant was:

Alpha: testnet

Beta: most likely REAL thing

This makes sense as I remember reading posts saying the beta will be the 'launch'. Hopefully our mutual confusion will be cleared up by a dev.

Alpha = 100% testnet and monopoly money. Beta = Likely to be in the testnet for the first phase and then move to the main-net (with real stake and coins). It is still undecided whether nemesis block is on launch day or in beta. It doesn't make much difference imo.

NEM Beta will include some special features. Even NEM open Alpha will likely include special features that are not in other coin's launch. For example: NIS codes for secure messaging have been completed and just need GUI to be on Open Alpha. Secure messaging is not even in Nxt NOW 9 month after the coin launch. Talk about the difference between one system's alpha and the other system's so-call advanced stage.

NEM beta will include features that have never been in any other system. What are they ? We cannot tell you because the codes are not completed and there are some uncertainty in the implementation. However, there will be at least one special feature moving from NEM Alpha to NEM Beta.

The current NEM roadmap is alpha -> beta -> release -> v1 completion

Alpha
The alpha will be launching soon and will have many of the announced NEM features. The goal of the alpha is to show everyone what we've been working on the last few months and let them play with it and give feedback. Most importantly, it should be a starting point for other developers to build on top of NEM. In order for NEM to be a success, it needs to have a thriving community and a lot of skunksworks projects by community members. All of the successful coins have strong ecosystems, and NEM needs one too. (NEM is off to a great start in this respect, but it's important to keep up the momentum).

Beta
The core dev team has 3-5 super secret features to work on during this time that we're really excited about. Once they're stable, NEM will enter Beta where NEM V1 will be feature complete. The Beta period will be mostly for stabilization and bug bashing.

Release
Once the Beta proves resilient, NEM will officially be released, and the NEMesis block will be created on main-net.

V1
After the release, the focus will shift to the NEM asset exchange. Upon completion of the asset exchange, the NEM V1 blockchain will be completed, and who knows what will happen after that?

Thanks for the important info. By that time I suspect NEM will be in top 5, if not top 3.

[jabo38]

Wow, after reading about how PoS and forging works in NXT, I think POI is a much better idea. I don't have a mountain of NXT so there really isn't much of an incentive for me to leave the server portion running. To me, the more people that contribute to the network the more secure it is (decentralization), and as the currency dilutes, more people will be in the same position. More people will hoard to create stake and that defeats the point of a currencies fluidness. If you want to use the currency as a store of wealth (gold, you don't transact in it, just keep it for stability), fine. But, for a "fiat" to succeed by its' very nature, a lot of people need to want and use it.

Maybe I don't fully understand PoS, but this just doesn't feel all that terrific. Still, better than PoW I think...

Also, on the one hand, I like the idea that perhaps increasing one's node(s) with infrastructure results in a direct benefit (like adding infrastructure to a utility and increasing customer base). If I want to be a big participant I can do it on my own dime for fun and it benefits the network. On the other hand, it seems like it might encourage centralization again if folks wanted to build huge node farms then we are back to ASIC farm dangers again. So it is almost like you need some sort of "difficulty" co-efficient like in mining where the participating nodes have scale to a point and then diminishing returns. I have no idea how you'd enforce that as any method I can think of easily bypassed (by IP? by client ID?, etc.)

Enlighten me if you know better. I'll need to pour over the NEM POI docs.

(This may be offtopic so feel free to ignore)

In NXT to don't secure the network when you forge with a small NXT balance, that is why you don't get any rewards. If you run a node with few NXT you "stabilize" the network, but for security purposes you don't add anything. That is the reason why the Balanceforging/Totalbalanceforging blockforgingchance was introduced. This can't be exploited. If the POI can be exploitet is yet to be seen.

I have been talking about this on the NXT forum but have met a lot of resistance.  The top 15 accounts take 2/3 of all transaction fees for themselves.  Probably another 20-30 accounts are taking a big part of the 1/3 left over, but I can't say for sure because I didn't see the numbers.  

The problem with this is that the top 20-40 accounts are taking most of the transaction fees.  These are all people that have close to $1,000,000 in NXT or actually much more in some of the cases.  So basically if a person doesn't have $500,000 in NXT, there is no benefit in forging.  To me in the long term, this makes for an extremely flawed system for protecting a network.  I'll admit though I am not much on a technical side.  

I always liked the idea of in bitcoin that there were thousands of people running a node.  In NXT hearing that 20-40 people have the only nodes that matter is a little scary to me.  

With NEM, we start off with thousands of users and lots of people incentivised to run a node, even people that don't own a lot of NEM.  

I really like NXT a lot, and I mean A LOT.  I think NXT is the best thing since bitcoin, and Ripple is also pretty promising too.  But still, until Ripple actually gets partners and a decent user base, it is worthless (the partners they want to have will actually lose money if they join Ripple).  And until NXT can convince me that their POS is actually stable long term, I am a bit worried.  On top of that the fee now for making a NXT transaction is 8 or 9 cents, where in other services it can be magnitudes time cheaper, like in Ripple where it is 10,000,000 times cheaper.  I have brought up the fact that the fee being so high on NXT forums and get blasted that it isn't too high, I am guessing by some of those accounts with over a million USD as they are getting nice profits from those transaction fees.  

With NEM and POI, we have people that can form a network and a good way to strengthen the network (in theory, we have to see the code first to know for sure).  NEM has also addressed the continual thorn in the side of NXT too which is the original stakeholder problem.  

[li_ink]

Maybe what Gimre really meant was:

Alpha: testnet

Beta: most likely REAL thing

This makes sense as I remember reading posts saying the beta will be the 'launch'. Hopefully our mutual confusion will be cleared up by a dev.

Alpha = 100% testnet and monopoly money. Beta = Likely to be in the testnet for the first phase and then move to the main-net (with real stake and coins). It is still undecided whether nemesis block is on launch day or in beta. It doesn't make much difference imo.

NEM Beta will include some special features. Even NEM open Alpha will likely include special features that are not in other coin's launch. For example: NIS codes for secure messaging have been completed and just need GUI to be on Open Alpha. Secure messaging is not even in Nxt NOW 9 month after the coin launch. Talk about the difference between one system's alpha and the other system's so-call advanced stage.

NEM beta will include features that have never been in any other system. What are they ? We cannot tell you because the codes are not completed and there are some uncertainty in the implementation. However, there will be at least one special feature moving from NEM Alpha to NEM Beta.

The current NEM roadmap is alpha -> beta -> release -> v1 completion

Alpha
The alpha will be launching soon and will have many of the announced NEM features. The goal of the alpha is to show everyone what we've been working on the last few months and let them play with it and give feedback. Most importantly, it should be a starting point for other developers to build on top of NEM. In order for NEM to be a success, it needs to have a thriving community and a lot of skunksworks projects by community members. All of the successful coins have strong ecosystems, and NEM needs one too. (NEM is off to a great start in this respect, but it's important to keep up the momentum).

Beta
The core dev team has 3-5 super secret features to work on during this time that we're really excited about. Once they're stable, NEM will enter Beta where NEM V1 will be feature complete. The Beta period will be mostly for stabilization and bug bashing.

Release
Once the Beta proves resilient, NEM will officially be released, and the NEMesis block will be created on main-net.

V1
After the release, the focus will shift to the NEM asset exchange. Upon completion of the asset exchange, the NEM V1 blockchain will be completed, and who knows what will happen after that?

Good job, thanks for your hark work.

I just have one question,  is it possible that the Alpha version will be released this month?