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

[gsxrl3oi]

The Open Alpha is scheduled on 6/25. Let's the countdown begin. We will be inviting selective users into the closed Alpha testing starting in a couple of days. The priority goes to helpers/ volunteers who are in the Trello board or answer the volunteer survey earlier so there is no need to sign up now. Thanks.

On behalf of the NEM dev. team.

Woooooooooooo, thank you guys. 

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[Simakki]

Some people on the asset exchange have upwards of 12 stakes.  I saw multiple accounts with over 10 just scanning through. Some big holders are beginning to form.

I almost guessed that happening  

i dont think it will effect nem that much.. if a whale wants a large amount of a currency.. they will usually acquire it one way or another.. whether its buying up cheap now or manipulation of the market after launch.. so it makes no odds really.. lets just hope these are the type of whales to put up bounties and give donations and fund conferences ect..

I agree, it is normal in the development of a currency... some of these large holders may even benefit the currency like you said. There were probably a couple stakeholders with 10+ sockpuppets never caught too, so I am guessing there are currently around 20 people with over 10 stakes each. I am guessing that out of these 20 one or two may have over 20 stakes. Then the devs may get around 40 stakes (not sure). However this still seems to be a great distribution with little manipulation.

-EFFV

and on top of it.. less than 500 stakes were distributed(i think) so its not like they can even buy that many with out forcing the price up.. it seems to me like they just picked up the coins that were going to be dumped anyway! these people will have much more interest in running nodes now aswell..

actually.. it would be cool if people could link nodes.. like prove to the network they own node x y z. split their total number of coins between node x y and z and then they lease forging power from node x and y to z.. z then gets the forging power of all the coins from all 3 nodes and then get a higher importance for account z for running 3 nodes at once! this would split up larger accounts into many smaller ones. and there would be waaay more nodes! probably twice or 3 times more nodes!

edit:

im 99% sure as an asset! which is better. better be top of the asset list than 20th on the coin list!

Up today i saw that just 388 stakes were claimed and im more and more convienced that it was right move to use AE. We get rid of weak hands for sure!

One question to the devs: what will happen to the stakes which are never claimed after the launch ? 'Cos someone maybe just forget the whole deal. And i mean regular stakes no tokens.

[TauMuon]

@Simakki

they will probably go to an unclaimed funds account.. and people who havnt claimed will get a period of time to claim and if not claimed go towards development.. thats what happened with nxt.. and there was a lot of unclaimed coins.. there will be way more with nem just cos there are 3000 people...

Personally I think it'd be cool if unclaimed stakes went to charity.

[rocker10]

Another piece of great news is that Gliss from coinmarketcap is still working to add NEM, I have just talked to him. It will take a bit more to configure what he has to but he said it's on the way.

Going on coinmarketcap will bring us a lot of exposure!

[ShonkJonk]

Utopian moving it to the AE was a genius move. Ain't none coin other can fetch like NEM can.

[makoto1337]

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.

So no one complains that I took a dig at Nxt ? Surprisingly ;-)

I will be happy too. "Secure" is not a correct word. You probably meant "encrypted messaging". Nxt messages are "secure" but not "encrypted" in the core. They chose to not implement encryption in Nxt core and let clients come up with their own encryption scheme.   At least one client had implemented encrypted  messaging 4 months ago. Of the new clients, OffSpring does it too. Wesley is planning to implement  it too with his client.

"Secure" is confused usage of the word in above quote

I prefer: "pretty darn safe messaging."

[makoto1337]

Ethereum co-founder Vitalik Buterin receives a 100k grant from Thiel Fellowship:

http://www.coindesk.com/peter-thiel-fellowship-ethereum-vitalik-buterin/

This is a very important move on the side of ethereum.

Would someone from NEM apply for one too, anyone from the core dev team under 20?

Nice of the NSA/establishment to support their own.

[makoto1337]

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!

isnt nxt also doing nem a huge favor by advertising it for nem with all the twitter accounts? by being top on AE? by showing off the AE to everyone at payexpo that will see nem trading at huge volume? nem benefits jsut as much! if not more!

There is no reason that NXT and NEM can't work together.

[makoto1337]

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. 

100% NEM

[TaunSew]

I am classified as an early NxT adopter, by the NxT crew, and yet the capitalization has yet to recover to what it was back in late January when it hit $100 million.  

The FUD with the distribution, quality of source code and the emerging discussion of NxT descendents is arguably what did NxT in.

I know NxT emphasizes the rhetorical 'technological innovation' argument but it's a weak argument.   There is nothing proprietary (nothing can be patented) in the crypto world.  Most of NxT's best features are currently being copied into other coins as we speak.  Without the innovative features what is NxT stuck with?  The poor distribution?  The accompanied hostile whales who engage in price manipulation? 

The reality of cryptos is best symbolized by Doge - it was a stupid meme of a dog and yet it was worth more (at one time) than NxT and Mastercoin.  Bitcoin is arguably no different, hundreds of coins have come about claiming to be superior and yet innovation hasn't come anywhere close to dethroning Bitcoin.

Much like real world $Fiat - it seems like community is more important than anything else.  The $USD is a good example in a way, it still uses green paper money while there are countries in Africa which have already adopted polymer bills, but the US is technically the dominant currency in the world due to use as the petrodollar around the world.

[jkoil]

Some people on the asset exchange have upwards of 12 stakes.  I saw multiple accounts with over 10 just scanning through. Some big holders are beginning to form.

I almost guessed that happening 

i dont think it will effect nem that much.. if a whale wants a large amount of a currency.. they will usually acquire it one way or another.. whether its buying up cheap now or manipulation of the market after launch.. so it makes no odds really.. lets just hope these are the type of whales to put up bounties and give donations and fund conferences ect..

I agree, it is normal in the development of a currency... some of these large holders may even benefit the currency like you said. There were probably a couple stakeholders with 10+ sockpuppets never caught too, so I am guessing there are currently around 20 people with over 10 stakes each. I am guessing that out of these 20 one or two may have over 20 stakes. Then the devs may get around 40 stakes (not sure). However this still seems to be a great distribution with little manipulation.

-EFFV

There were few who said that they have 40 - 60+ stakes. Provocation/trolling maybe, coz they did not want to prove or sell.

[jkoil]

Some people on the asset exchange have upwards of 12 stakes.  I saw multiple accounts with over 10 just scanning through. Some big holders are beginning to form.

I almost guessed that happening  

i dont think it will effect nem that much.. if a whale wants a large amount of a currency.. they will usually acquire it one way or another.. whether its buying up cheap now or manipulation of the market after launch.. so it makes no odds really.. lets just hope these are the type of whales to put up bounties and give donations and fund conferences ect..

I agree, it is normal in the development of a currency... some of these large holders may even benefit the currency like you said. There were probably a couple stakeholders with 10+ sockpuppets never caught too, so I am guessing there are currently around 20 people with over 10 stakes each. I am guessing that out of these 20 one or two may have over 20 stakes. Then the devs may get around 40 stakes (not sure). However this still seems to be a great distribution with little manipulation.

-EFFV

There were few who said that they have 40 - 60+ stakes. Provocation/trolling maybe, coz they did not want to prove or sell.

I was regularly reading the threads and you were referring to maybe only two people, and their stories were skeptical.  There was that one guy who claimed to be from Ukraine (probably didn't know the country existed until Euro Maidan) and claimed to had sold stakes for $5K a piece (   ), it later became clear that one story was definitely provocation and trolling


Probably the most hilarious story with NEM (although the guy was forced to refund his stakes), was the guy who (after taint analysis) said he was claiming stakes for his Grandmother and Infant children..    

yea... many stories, but we can not know, which of them were true 

[TaunSew]

Some people on the asset exchange have upwards of 12 stakes.  I saw multiple accounts with over 10 just scanning through. Some big holders are beginning to form.

I almost guessed that happening  

i dont think it will effect nem that much.. if a whale wants a large amount of a currency.. they will usually acquire it one way or another.. whether its buying up cheap now or manipulation of the market after launch.. so it makes no odds really.. lets just hope these are the type of whales to put up bounties and give donations and fund conferences ect..

I agree, it is normal in the development of a currency... some of these large holders may even benefit the currency like you said. There were probably a couple stakeholders with 10+ sockpuppets never caught too, so I am guessing there are currently around 20 people with over 10 stakes each. I am guessing that out of these 20 one or two may have over 20 stakes. Then the devs may get around 40 stakes (not sure). However this still seems to be a great distribution with little manipulation.

-EFFV

There were few who said that they have 40 - 60+ stakes. Provocation/trolling maybe, coz they did not want to prove or sell.

I was regularly reading the threads and you were referring to maybe only two people, and their stories were skeptical.  There was that one guy who claimed to be from Ukraine (probably didn't know the country existed until Euro Maidan) and claimed to had sold stakes for $5K a piece (   ), it later became clear that one story was definitely provocation and trolling


Probably the most hilarious story with NEM (although the guy was forced to refund his stakes), was the guy who (after taint analysis) said he was claiming stakes for his Grandmother and Infant children..    

yea... many stories, but we can not know, which of them were true  

It was a call for participation and we don't need the technologically illiterate.  There is no strict requirement that someone is active on Bitcointalk or social media.  That being said, there could be an implied assumption that NEM stakeholders will engage in offline P2P advertisement.  In that scenario, an infant or a technologically illiterate grandmother isn't of any use to NEM as they couldn't possibly explain to someone how to download & use a wallet.

[jkoil]

The Open Alpha is scheduled on 6/25. Let's the countdown begin. We will be inviting selective users into the closed Alpha testing starting in a couple of days. The priority goes to helpers/ volunteers who are in the Trello board or answer the volunteer survey earlier so there is no need to sign up now. Thanks.

On behalf of the NEM dev. team.

Will there be available some test scripts, which each volunteer could use to make much more transactions  and other operations?
That could make stress tests while not using manually the UI and the operations to test each feature.

[makoto1337]

Aye, thanks for the link.

NEM, in the meanwhile, has reached the Inner Sanctum of 2.0 development:

https://bitsharestalk.org/index.php?topic=4888.0

Yey!

We made it

[makoto1337]

I find it remarkable that NEM, compared to other coins, has essentially been free of FUD so far.

I havnt read so much FUD, most negatives are about distribution makes no difference compared to NXT, and about what benefits will there be that we dont already have.

Because there is no FUD on the MOON!

[makoto1337]

why the coin is so expensive?

Your answer can be found on the first page.

- Fair distribution (call for participation) with 3000 stakeholders
- Proof of intent (distinct form proof of work and proof of stake)
- Large, skilled, development team.  Gimre and Jagaur were contributors to NxT.  The other developers had roles in other successful coins.

POI = Proof-of-Importance (not intent; this is not mineable)

[Thingamajig]

why the coin is so expensive?

Your answer can be found on the first page.

- Fair distribution (call for participation) with 3000 stakeholders
- Proof of intent (distinct form proof of work and proof of stake)
- Large, skilled, development team.  Gimre and Jagaur were contributors to NxT.  The other developers had roles in other successful coins.

POI = Proof-of-Importance (not intent; this is not mineable)

I've heard proof of Interest mentioned before. I must admit, i prefer Proof Of Interest over Proof Of Importance. Seems to fit the community spirit NEM is trying to cultivate. Even moreso when you consider it's egalitarian principles -- "Importance" kinda doesn't fit that message, yet anyone who invests more time and energy (Interest) in supporting the infrastructure (and said principles), deserves to be rewarded.

So, in a nutshell, i think it should be referred to as Proof of Interest, not Importance


Which reminds me, i need to read up more about how to run nodes as it is something i will be happy to participate in once the ball (coin) gets rolling.

[Stan Rabbit]

why the coin is so expensive?

Your answer can be found on the first page.

- Fair distribution (call for participation) with 3000 stakeholders
- Proof of intent (distinct form proof of work and proof of stake)
- Large, skilled, development team.  Gimre and Jagaur were contributors to NxT.  The other developers had roles in other successful coins.

POI = Proof-of-Importance (not intent; this is not mineable)

I've heard proof of Interest mentioned before. I must admit, i prefer Proof Of Interest over Proof Of Importance. Seems to fit the community spirit NEM is trying to cultivate. Even moreso when you consider it's egalitarian principles -- "Importance" kinda doesn't fit that message, yet anyone who invests more time and energy (Interest) in supporting the infrastructure (and said principles), deserves to be rewarded.

So, in a nutshell, i think it should be referred to as Proof of Interest, not Importance


Which reminds me, i need to read up more about how to run nodes as it is something i will be happy to participate in once the ball (coin) gets rolling.

dont talk to much shit,   it is and called all the time  "Proof of Importance" , and it is infact a real good choice to call it like that. So dont come on with your fantasy choice. Proof of Impotance sounds it is important and infact it is the best choice to explain the mechanism of NEM.  

[Thingamajig]

why the coin is so expensive?

Your answer can be found on the first page.

- Fair distribution (call for participation) with 3000 stakeholders
- Proof of intent (distinct form proof of work and proof of stake)
- Large, skilled, development team.  Gimre and Jagaur were contributors to NxT.  The other developers had roles in other successful coins.

POI = Proof-of-Importance (not intent; this is not mineable)

I've heard proof of Interest mentioned before. I must admit, i prefer Proof Of Interest over Proof Of Importance. Seems to fit the community spirit NEM is trying to cultivate. Even moreso when you consider it's egalitarian principles -- "Importance" kinda doesn't fit that message, yet anyone who invests more time and energy (Interest) in supporting the infrastructure (and said principles), deserves to be rewarded.

So, in a nutshell, i think it should be referred to as Proof of Interest, not Importance


Which reminds me, i need to read up more about how to run nodes as it is something i will be happy to participate in once the ball (coin) gets rolling.

dont talk to much shit,   it is and called all the time  "Proof of Importance" , and it is infact a real good choice to call it like that. So dont come on with your fantasy choice. Proof of Impotance sounds it is important and infact it is the best choice to explain the mechanism of NEM.  

Sorry, i didn't know you felt so strongly on the issue.

I'm not too concerned either way, just stating what i thought was obvious -- it's hardly a fantasy, more of an observation.


Also, you're one letter off calling it Proof of Impotence there, we don't want that.