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

[susu]

 NEMstake  price increase greatly.

[TaunSew]

I don't know if other Nemsters have noticed, but I'm enjoying NEM's current independence from Bitcoin.

• A large amount of the stake fees were paid in NXT.
• The NEMstake tokens are issued on the NXT AE and thus are bought/sold with NXT.

I just hope it continues. If there is an alternative way of doing the upcoming auction without using the Bitcoin blockchain that'd be fantastic.

use NXT blockchain! :L

It is a good move to do that. Look at the predicament of Maidsafe and how they suffered with Mastercoin when they used Mastercoin to fund their crowdselling. They really got burned. NEM has take a different route. On the contrary, it appears NEM is doing NXT a favour. ;-)

And releasing that 1000 NEMstake is also a good move to pent up demand and size the market. Kudos!

I agree with your conclusion.  People are buying NxT at a premium (rushing) to trade for NEM, this has an upswing effect on NxT.  As we  are seeing now, as volume declines for NEM (went from 4 million to 3.5 million), this coincides with a decrease in NxT value as the number of people looking to buy on premium is on the decline at the moment.

[jabo38]

Right before Maidsafe took Mastercoin the Mastercoin price went up.  And then when the sale was over it crashed. 

Right before NEM was released, the NXT price went up.  There is still trading though and some few new sales, but yes, the price of NXT isn't going up anymore. 

Many people said there is no correlations between NXT's price and NEM, but this is the second time a "colored coins" project has been released and the 2nd time it has happened. 

Thought the total amount of NEM released is about $100,000 and the total amount of Maidsafe released was $7,000,000.  There was a big difference. 

[rockethead]

Right before Maidsafe took Mastercoin the Mastercoin price went up.  And then when the sale was over it crashed. 

Right before NEM was released, the NXT price went up.  There is still trading though and some few new sales, but yes, the price of NXT isn't going up anymore. 

Many people said there is no correlations between NXT's price and NEM, but this is the second time a "colored coins" project has been released and the 2nd time it has happened. 

Thought the total amount of NEM released is about $100,000 and the total amount of Maidsafe released was $7,000,000.  There was a big difference. 

Whether there is correlation between Nxt and NEM or not is left to be seen and concluded. And one can easily conclude when Nemstake is taken off NXT's AE. Then we can safely say that NEM had or did not have an impact on NXT. My gut feel is that it had a significant impact, compounded by their claimed announcements.

I am now seeing that the price of NXT is rising again corresponding with the rise in NEMstake. Reason, someone just released a sneak preview of the alpha. :-)

[hill]

IMO,  NEM  did  have an impact on NXT's price.

[xtester]

https://twitter.com/nemcoin/status/475270738018975745

Awesome! Great work guys!

[Vega]

If people bought Nxt to buy NEM, and then dumpsters sold the same Nxt,  I don't see how NEM had any significant impact on Nxt price.
And please, don't tell me ppl who sell their stake at the first opportunity, kept their Nxt, not likely.

Not that I see why this matters at all.

[Momimaus]

There are so many coins out there. different algortithms and different features.
Hard to decide whether to invest 50% NXT and 50% NEM or 40% NXT 60% NEM.
Its so hard. 

[patmast3r]

There are so many coins out there. different algortithms and different features.
Hard to decide whether to invest 50% NXT and 50% NEM or 40% NXT 60% NEM.
Its so hard. 

I'll be easier to decide once NEM reaches V1 

[kauppalahti]

While nxt started mr.Utopian have had the best possible position to see where
cryptocoinmarket is going and based to this info (my personal opinion) i am
sure that the guys and girls who stay, will get the profit out of it. As an marketing person
i can see what others don`t.
Just stay in the path, what you have planned, no sidesteps allowed...don`t be the weathercock.
 I am also nxt investor and also not in the rush to sell it out.

[gimre]

NEX soon underway. Exciting times are coming.

ambivalent feelings - not sure if I should cry or laugh

[TauMuon]

its ridiculous to put the increase of nxt as of late entirely down to nem.. it played a part yes but only at the start.. but a day or 2 after release the volume fell off a cliff.. if people were buying like mad to buy nem, the money that flowed into nxt would have flowed then into nem causing a rise in price but instead the price fell allot and has only just started to recover, and now the price starts to rise, coincidentally nxt is not rising, hhmmm! i cant understand how you can put the increase in nxt entirely down to nem.. it wasnt even 50% of the reason.. the rise from 40million to 47 million i would put down to nem.. dont fool yourselves into thinking it was anymore than that.. no offence but anyone who thinks its totally down to nem or even over 30-40% of the reason is just wrong.. the price of nem would be far far higher if that was the case. anyone who understands economics and how the fundamentals effect markets would know this.

So you're a professional economist then, eh?

My view is as follows: the rise in price of any security, be it a stock or cryptocurrency, is very very rarely down to just one factor. So I agree that the rise in NXT's price probably wasn't down solely to the listing of NEMstakes. What I do think is that it probably did have quite a large effect on NXT's price; just looking at the AE volume confirms that. Unless it was a coincidence, which is very unlikely.

Yes, I know that there has been some exciting news/rumours/pre-announcements from NXT, and that obviously also contributed to the swelling in price. The fact is is that no one (no one) can know EXACTLY what caused the price rise of an asset. Going as far to quote percentages and tell people they're wrong just because you're obviously quite attached to NXT is irritating and immature.

I initially wasn't going to say anything, but every time someone suggested the NXT price rise was mostly down to NEM there was always a big sprawling paragraph from yourself screaming that it wasn't. I can appreciate you having a different opinion on the exact involvement of NEM with NXT's price rise, but telling people they're wrong and quoting exact percentages like you're some economics guru has irritated me.

The exact weight of individual reasons behind a rise in price of any asset is mostly down to opinion. Please appreciate that. 

[Eadeqa]

I agree with your conclusion.  People are buying NxT at a premium (rushing) to trade for NEM, this has an upswing effect on NxT.  As we  are seeing now, as volume declines for NEM (went from 4 million to 3.5 million), this coincides with a decrease in NxT value as the number of people looking to buy on premium is on the decline at the moment.

Here is amount of AE volume in last 30 days

http://www.cryptoassetcharts.info/assets/info

As you can see there a lot of other assets that had big volume (bigger or just as big) as Nem

[Agent86]

I don't know if other Nemsters have noticed, but I'm enjoying NEM's current independence from Bitcoin.

• A large amount of the stake fees were paid in NXT.
• The NEMstake tokens are issued on the NXT AE and thus are bought/sold with NXT.

I just hope it continues. If there is an alternative way of doing the upcoming auction without using the Bitcoin blockchain that'd be fantastic.

use NXT blockchain! :L

There's a downside to this: BTC is a LOT more liquid than NXT so if real funds are needed for development it's probably best they get it in BTC.  BTC is also still the most universally used crypto so it is more convenient for the most number of people to participate in the auction.

[xtester]

This discussion about how much of an impact NEM had on NXT is becoming holerious This should be obvious by now.

[xtester]

There are so many coins out there. different algortithms and different features.
Hard to decide whether to invest 50% NXT and 50% NEM or 40% NXT 60% NEM.
Its so hard.  

I'll be easier to decide once NEM reaches V1  

To be honest, I think even people who are looking only for the safest bet/best ROI would do a smart move if they would buy NEM now. Once it becomes obvious what our devs are capable of, I think NEM will ascend closer to its real value.

[xtester]

Seems utopianfuture already accepts donations in NEM.

This is from his signature:
NEM donation: TD53NLTDK7EMSutopiaK4RSYQ523VBS3C62UMJC5

Is this the NEM address format?

Getting closer. 

[griffinriz]

Seems utopianfuture already accepts donations in NEM.

This is from his signature:
NEM donation: TD53NLTDK7EMSutopiaK4RSYQ523VBS3C62UMJC5

Closed and closer. 

gimre is also using NEM address in his signature 

[xtester]

Seems utopianfuture already accepts donations in NEM.

This is from his signature:
NEM donation: TD53NLTDK7EMSutopiaK4RSYQ523VBS3C62UMJC5

Is this the NEM address format?

Getting closer. 

are they all going to have "utopia" in the middle? lol

That would be cool, but I don't think so.

[utopianfuture]

I agree with your conclusion.  People are buying NxT at a premium (rushing) to trade for NEM, this has an upswing effect on NxT.  As we  are seeing now, as volume declines for NEM (went from 4 million to 3.5 million), this coincides with a decrease in NxT value as the number of people looking to buy on premium is on the decline at the moment.

Here is amount of AE volume in last 30 days

http://www.cryptoassetcharts.info/assets/info

As you can see there a lot of other assets that had big volume (bigger or just as big) as Nem

Just wait 30 days !