NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs

[rockethead]

Is there any connection between DistributedLab and NEM developers? DL seems to claim so: http://distributedlab.com/ournem/

Be careful of these guys. They were doing something for Crypto Apex and they never delivered. The screenshot is a Crypto Apex solution screenshot and was full of bugs. The situation now is that Crypto Apex had to complete it somewhere else with a set of broken code.

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[vinci]

wow a lot of buy support in polo today. any good news lately?

[marcus_v]

would be nice if it stayed at the 1000k mark. has dropped over 100 points. wonder if it will go back to 800 or more

[PS1987]

It will go back to 500 sats. Still much more expensive than ico price, I think then it is a good time to buy

[marcus_v]

I think so too more people are buying than selling it.

just sold the coin I bought today wish everyday was like this

[yshin365new]

It will go back to 500 sats. Still much more expensive than ico price, I think then it is a good time to buy

ICO price has nothing to do with the quality of coin/blockchain.
NEM's growth is based on its advanced quality by excellent dev team.
NEM is still very very cheap for its quality.

[marcus_v]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

[nzminer]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

Just buy bits at a time and hold and forget about the short term cost, I tend to stay away from day trading anything as thats when i have always lost.

[yshin365new]

Anticipating foundation of NEM legal entity.
Just curious what other coin/blockchain founded its own legal entity.

[LemonAndFriesOne]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

are you new to crypto coin scene marcus_v and how long have you been messing with crypto coins?

Anticipating foundation of NEM legal entity.
Just curious what other coin/blockchain founded its own legal entity.

bitcoin and ripple from what I can tell

[nzminer]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

are you new to crypto coin scene marcus_v and how long have you been messing with crypto coins?

Anticipating foundation of NEM legal entity.
Just curious what other coin/blockchain founded its own legal entity.

bitcoin and ripple from what I can tell

What about the Ethereum Foundfation?

[overthetop2011]

It will go back to 500 sats. Still much more expensive than ico price, I think then it is a good time to buy

ICO price has nothing to do with the quality of coin/blockchain.
NEM's growth is based on its advanced quality by excellent dev team.

well said. totally agree

[marcus_v]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

are you new to crypto coin scene marcus_v and how long have you been messing with crypto coins?

Anticipating foundation of NEM legal entity.
Just curious what other coin/blockchain founded its own legal entity.

bitcoin and ripple from what I can tell

I have been around since 2013 as a miner building coin then tried trading and figured out I can make more trading. been doing day trading full time since 2015. I learned how to make bad trades profit. this one has been a challenge but almost there.

[LemonAndFriesOne]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

are you new to crypto coin scene marcus_v and how long have you been messing with crypto coins?

Anticipating foundation of NEM legal entity.
Just curious what other coin/blockchain founded its own legal entity.

bitcoin and ripple from what I can tell

What about the Ethereum Foundfation?

think that one also, there's probably a few more

[LemonAndFriesOne]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

are you new to crypto coin scene marcus_v and how long have you been messing with crypto coins?

Anticipating foundation of NEM legal entity.
Just curious what other coin/blockchain founded its own legal entity.

bitcoin and ripple from what I can tell

I have been around since 2013 as a miner building coin then tried trading and figured out I can make more trading. been doing day trading full time since 2015. I learned how to make bad trades profit. this one has been a challenge but almost there.

ok, I thought you were new to this

[rockethead]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

are you new to crypto coin scene marcus_v and how long have you been messing with crypto coins?

Anticipating foundation of NEM legal entity.
Just curious what other coin/blockchain founded its own legal entity.

bitcoin and ripple from what I can tell

What about the Ethereum Foundfation?

think that one also, there's probably a few more

Anyone can give their opinion what failures they have that we should not repeat?  NEM always wants to be perfect. So, we want to do the best we can to ensure that the well structured integrity is passed on as legacy.  The only reason that NEM has come this far is the honesty and commitment of the devs. We shall want to make sure that this new legal entity will carry on that legacy as we move to the dojo of the big boys in the game. Only then we can become a big initiative. We think the time is now.

The legal entity was set up after taking them into consideration, and after looking at how long standing mainstream organisations have been set up.

There is separation of power between legislative and executive to prevent abuse. But of course we cannot eradicate, but still we can prevent.

[yshin365new]

agree. though with the price dropping all the time does not make me feel secure about trading this coin. I am just trading it because I already bought in before it dropped. I am moving it little by little till it is gone then I might buy in again when it stops dropping.

are you new to crypto coin scene marcus_v and how long have you been messing with crypto coins?

Anticipating foundation of NEM legal entity.
Just curious what other coin/blockchain founded its own legal entity.

bitcoin and ripple from what I can tell

What about the Ethereum Foundfation?

think that one also, there's probably a few more

Anyone can give their opinion what failures they have that we should not repeat?  NEM always wants to be perfect. So, we want to do the best we can to ensure that the well structured integrity is passed on as legacy.  The only reason that NEM has come this far is the honesty and commitment of the devs. We shall want to make sure that this new legal entity will carry on that legacy as we move to the dojo of the big boys in the game. Only then we can become a big initiative. We think the time is now.

The legal entity was set up after taking them into consideration, and after looking at how long standing mainstream organisations have been set up.

There is separation of power between legislative and executive to prevent abuse. But of course we cannot eradicate, but still we can prevent.

I believe that the foundation of NEM legal entity will be a epoch-making event.
I became to know why NEM team has been so silent for a few weeks.

[tyz]

ICO price of XEM is not a benchmark because while NEM ICO was conducted there was not much attention in ICOs as nowadays.
So you can not compare it to competitors like Ethereum, Waves, Lisk etc.

It will go back to 500 sats. Still much more expensive than ico price, I think then it is a good time to buy

[wvl]

Please take note of the follwing threads in the NEM forum:

1) Realignment of funds discussion:
https://forum.nem.io/t/realignment-of-nem-funds-discussion/2685

2) Legal entity vote:
https://forum.nem.io/t/legal-entity-vote/2698

I suggest every Nem holder reads this. Vote deadline is August 14th and All community funds are being transferred to this legal entity. The legal entity will not only control the funds but actually own them to do as they wish.  Vote is also done by importance so those with most importance (NEM)(DEVS)win. No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc. Its supposed to be non-profit and that is the ideal but " but NEM shall also need to be sustainable in the long run. Hence, NEM shall be a hybrid model" . No idea what this means.

Please do not make conjectures. Ask if you have doubts. Making conjectures is fud.

Today, the funds in the non-entity of NEM is controlled by 8 core members. They can run with the fund too and it can collapse.

The legal entity gives it a protection layer as it cannot run away with the funds so easily as it binds the trustees of the fund to the law.

Making decisions to use the funds are explicity spelt out how they are going to be used to promote the 10 focus areas as described here: http://blog.nem.io/a-major-announcement/

THe 10 focus areas are:

• Setting up regional presence
• Organising NEM blockchain technology events
• Collaborating with educational institutions
• Collaborating with Government agencies to define standards
• Collaborating with commercial entities to further develop its use.
• Setting up a centre of excellence and to be headed by our very own core developers
• Setting up a consulting arm to consult on matters relating to the technology and provide such services to businesses at large that will use the NEM blockchain technology
• Acquiring and promoting intellectual properties from its community and working with them to promote such intellectual properties to global businesses
• Spawning new ventures, and where possible, by providing technology and financial assistance
• Providing for scholarships and internship for brilliant and world class students

How the funds will be used will be decided as before. Nothing has changed.

How the funds will be disbursed have always been done by the 8 core members without the need to answer to anyone. How the funds will be used in future will need corporate governance, and simply using funds at will, can land some people in jail. Simple as that. We are putting check and balance into the system. It can only be better, not worse.

Finally, the legal entity is not only a legal entity per se. It will comprise of members, pretty much like a foundation, but the word foundation is not the right description, more so a society in nature. There will be members there who will cast their votes for any major investments.

In the initial stage, this will be very much guided by the core team. The initial stage is expected to be 10 years and by which time, we hope to achieve a proper legacy for all to follow.

Let's hope this will clear some air.

Edit: Please note that the whole question in the end is the community fund. The rest of the fund has always been autonomously decided by the core. So really, the question is the community fund.

Another point to be made, the structure is two tier, trustee tier and society tier.  Society is run by executives who are entrusted to run and execute what has been decided collectively between the members of the society (presumably the nembers here), the executives and the board of trustees. In short, it is not without any check and balance.

I would like to vote but my NIS sais that messaging is not yet available in beta release. Do I need to download a new version?
edit: my dashboard sais:
 Latest stable release:

0.6.77

[teletobi]

ICO price of XEM is not a benchmark because while NEM ICO was conducted there was not much attention in ICOs as nowadays.
So you can not compare it to competitors like Ethereum, Waves, Lisk etc.

It will go back to 500 sats. Still much more expensive than ico price, I think then it is a good time to buy

Additionally at ICO Time NEM was planned as a nxt Clone. It was decided to completely rewrite after ICO. And we had to wait a long time for the first Version. But the devs are doing great!