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

[TauMuon]

someone is seriously manipulating the nem market! hes forcing the price down to accumulate more stakes as i speak! noobs.. stop falling for it! 

There's going to be manipulation in a market as small as the NEMstake asset. Just gotta accept it.

[thuhyl]

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.

Good news

[wakasaki96744]

finally open alpha is coming ! 

[TaunSew]

someone is seriously manipulating the nem market! hes forcing the price down to accumulate more stakes as i speak! noobs.. stop falling for it!  

There's going to be manipulation in a market as small as the NEMstake asset. Just gotta accept it.

That is the pareto principle in practice - the 80 / 20 distribution.  A lot of people right now think $1500 is huge amount of money for doing very little (beyond sending a small amount of BTC / NxT back in February), so they are glad to give it up for a few bucks.  Even though a stake could be worth $10K within a month of launch or millions years from now.

  I'm inclined to believe that crypto currencies will someday be $1 trillion, as investment gold is currently worth $2 trillion, global remittance (e.g. Flippinos / Mexican in America sending money home) is $500 billion, and Crypto Currencies tend to combine characteristics of gold and remittance.  World tourism revenues are over $1 trillion.    There's also $20 trillion in retirement funds around the world but let's not get ahead of ourselves.

 Most people tend to opt for the instant easy money versus the patience in waiting

[solix]

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.

This is to be expected on the NXT AE, but I think it's only possible to claim 2 stakes once NEM is officially launched to avoid such hoarding.

Can someone who's more well informed verify that this is in fact the case.  Thanks in advance and dev's keep up the great work!

I recall seeing that too, and also wondered what the fate of such accounts would be and reasoned one of two things:

1) They will need to dump down to two and the days leading up to cashing in there will be a glut and a price drop (don't expect this as #2)
2) They will shuffle the stakes around in 2 pair chunks to other accounts.

Are we doing taint analysis? This isn't necessarily against the rules is it? You'd need to do the same analysis as the stake holder sheet.

[Vega]

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.

This is to be expected on the NXT AE, but I think it's only possible to claim 2 stakes once NEM is officially launched to avoid such hoarding.

Can someone who's more well informed verify that this is in fact the case.  Thanks in advance and dev's keep up the great work!

I recall seeing that to, and also wondered what the fate of such accounts would be and reasoned one of two things:

1) They will need to dump down to two and the days leading up to cashing in there will be a glut and a price drop (don't expect this as #2)
2) They will shuffle the counts around in 2 pair chunks to other accounts.

Are we doing taint analysis? This isn't necessarily against the rules is it? You'd need to do the same analysis on the stake holder sheet.

It's pretty pointless to even try to enforce the 2 stake rule, or even having it.
If only 2 stakes per account is allowed, people will simply transfer assets to another account before cashing it in.
If this is monitored, and forbidden, people will transfer nxt to another account and buy from different accounts. If Nxt movement is checked to prevent this, people will fund Nxt accounts from exchange, and use those to buy stakes.

The 2 stakes rule is incredibly easy to game, and very hard and time consuming (impossible actually) to enforce, therefore, pointless.

[bopstika]

Sounds like you're already doing it ^ lol

[Vega]

Sounds like you're already doing it ^ lol

yep. Well, some. Had one originally, bought 2 more, one more max at around 14000.

[lumierre]

I'll buy one more stake if I see the software.

[xtester]

The alpha is almost here, people will try to accumulate a lot more so stop selling cheap.

[bitwhizz]

Looking to buy NEM, have they already been issued?

[lumierre]

Looking to buy NEM, have they already been issued?

Not yet but you can buy a NEMstake from stakeholders at the NXT asset exchange.
https://bitcointalk.org/index.php?topic=616467.0

After you have bought a stake (Maximum of 2), you can exchange it with the NEM devs 2 weeks after the official launch of NEM.

1 stake is equal to 1 million NEM.

[bitwhizz]

how much more expensive is it to buy it off the asset exchange, comapred to when it was released?

[Eadeqa]

how much more expensive is it to buy it off the asset exchange, comapred to when it was released?

It will definitely be more expensive once it's released and is on exchanges. How much more? Hard to say. That will all depend on dumpers.

[bandar]

how much more expensive is it to buy it off the asset exchange, comapred to when it was released?

You mean when people reserved stakes?  For me: 125000%

[McDoxy]

how much more expensive is it to buy it off the asset exchange, comapred to when it was released?

It wasn't released yet...
That will probably happen at some point in August or September.

Right now all people can do is trade tokens which represent NEM stakes on the Nxt Asset Exchange which can be turned into NEM as soon as it is released.

Here you can see the price chart from the asset exchange http://nxtblocks.info/#section/assets_exchange/12465186738101000735

[Issac]

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.

Good news

Great.

[bitwhizz]

I am talking about when stakes were initiialy distributed

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[tylenol3mit]

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