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Author Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs  (Read 2818276 times)
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Hyjinx
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March 17, 2018, 11:54:53 AM
 #36381

I'm waiting for $0.20 which I don't think is that far off if Bitcoin can't hold 8K.  Hell, if Bitcoin can't hold 8K then we are all going to goblin town anyway where XEM will be about $0.05.  For the record I bought at $0.55  because I assumed, wrongly that XEM would retain at least some of its gains from the Alt coin bubble.  Haha, what a shitcoin.  Hard to deny that Lon fucked up hard.
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March 17, 2018, 12:04:10 PM
 #36382

I believe that hard fork was better idea from these tag at nem coin

These tag is without reason


Hacker sell it with no big problem stolen xem coin

Disagree. Of course the hack is really big trouble for all of us (I believe NEM developers did their best, but if some exchanges didn't care of or even cooperating with hacker due to laundering the stolen coins...), it is tanking us down, out of top10, for a long period, maybe forever. Which is extremely boring, annoying, sad, etc.

But we didn't lost the most important ingredients (at least in my eyes) - trust and credibility. I believe, that immutable and "don't touching" blockchain record(s) is a _must_. Yes, of course we all know, that ETH did hard fork in the past due to similar reasons ... and they were successful at all. This is one of the saddest surprise in whole the crypto scene for me...

Anyway, is somebody active monitoring the trace of Coincheck's stolen coins? Can we reckon, how many coins were already dumped and how many are still waiting for the dump / laundering ?

the best tagging system doesn't help with exchanges allowing to sell

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moonriver
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March 17, 2018, 12:17:58 PM
 #36383

Looks like trust is not fully back in NEM or the hacker managed to dump more coins yesterday and today.

I'm still full bull on NEM, but this long price slump is hard on everybody.
How many NEM was held by this hacker?
If he can easily dump it to lower the price so much, how can NEM recover when people are worried about future dump all the time?

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March 17, 2018, 12:20:37 PM
 #36384

Looks like trust is not fully back in NEM or the hacker managed to dump more coins yesterday and today.

I'm still full bull on NEM, but this long price slump is hard on everybody.
How many NEM was held by this hacker?
If he can easily dump it to lower the price so much, how can NEM recover when people are worried about future dump all the time?

Over 500 million. The last time I saw a figure he still had over 220 million.

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March 17, 2018, 12:30:01 PM
 #36385

Looks like trust is not fully back in NEM or the hacker managed to dump more coins yesterday and today.

I'm still full bull on NEM, but this long price slump is hard on everybody.
How many NEM was held by this hacker?
If he can easily dump it to lower the price so much, how can NEM recover when people are worried about future dump all the time?

The hacker stole 10% of the entire XEM supply which was worth about $500,000,000 at the time.  He has only managed to sell about 40% so this is going to be a problem for a very long time.  You can see the effect of the past hacks playing out right now in Bitcoin (Mt. Gox trustee still has 160,000 to sell).  It isn't that much vs. the entire market especially over time but in a bear market that is all the news needed to panic sell.  Although I would argue that BTC is being driven down in price by a very big player with a very big short.  If one watches GDAX order book it is very clear there is an endless sell bot the bulls have been trying to buy in the 8-10K range for the last 1.5 weeks but they simply don't have enough money for him anymore.  So we're probably going down.  Isn't really a bear market but an asshole market right now.
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March 17, 2018, 12:53:02 PM
 #36386

coin after so many days go to 0.41 dollars

and hacker at 2 days with no problem f... it at 0.29 dollar

what foundation do about that? Huh Huh Huh Huh


aslo i believe that hacker have a lot of nem at poloniex


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March 17, 2018, 01:53:10 PM
 #36387

@Hyjinx - Lots of people dumped. Not the Tokyo Whale. But it does look like the dump is mostly over.


I thought the dump was mostly over?  What happened?

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March 17, 2018, 02:02:15 PM
 #36388

The hacker has a site on the dark web where one can purchase stolen XEM for a discount. People are buying it up.
I don't know exactly how much has been sold this way, but it is likely more than half. Maybe even 3/4 of it. It is very hard to trace, because it is transfered so many times into so many different accounts.
I wish there was a NEM block explorer with the tree-type diagram to make tracking easier. As it is now on http://explorer.ournem.com, I can click through address to next address countless times, and seem to never find the bottom.

In the past 2 days, there were a few very large dumps, and at odd timing. The largest candle on tradingview's 1-min NEM scale shows a sale at 3-17-18, 4:40AM. This looks unusual, as it's such a huge volume it would have to be a whale sale. It doesn't make sense to me for an investor with that large of a bag to dump at that time.

There's likely a lot of people with too much FUD dumping as well. They see the price dropping, and dump their bags as well.
A 10% increase in market supply shouldn't cut the value of XEM by 1000%. Especially with so many great things knocking on our door.

@jelin1984 - It is not NEM foundations role or responsibility to babysit anyone's wallet. Lon Wong himself even says they are focused on developing the best blockchain we can use now, and improving it for the future - and are not focused on market valuation. This is good. They are software guys, not dictators controlling markets, babysitters watching wallets, police catching crooks.
The security of NEM blockchain is rock solid. It is the exchanges that need to improve their security. (and they are)

Anyway, how about some positive news!

1. In the most recent US Economic Report, Cryptocurrencies added an entire new chapter! And IMO, it is overall very positive! - Basically acknowledging cryptocurrency as technological advancement, with characteristics similar to the internet in the 90s. The report encourages a flourishing crypto economy, as well as cautions about scammy ICOs. Read a news article about it here. Or read The Economic Report for yourself (or maybe just the chapter on crypto)
2. I don't know this author, but I think it's a fair enough assessment. He speculates that NEM valuation will increase to 80 cents this year. I think it will be more, but you can read his take here: Read here.
3. The first Bitcoin Lightening network is in beta testing! - That is very positive for anyone invested in, or using ANY crypto.
4. Trump tax breaks helps us US citizens keep more of our profits. His economic advisor supports even more tax breaks for capital gains - such as crypto investing. Read here. There are also others close to Trump who are supportive of crypto as well. Say what you want about the current administration, but I don't think we have to worry about a crackdown coming from the highest seat. (except maybe on Venezuela's new Petro coin)

edit/ to address the troll, hyjinx.
The Tokyo Whale's bitcoin dump IS over for now. He is likely to arrange an OTC sale after September court proceedings. BTC price has actually gone up since your last bit of blathering. Price staying right around $8k. Market has gone bearish now with all the FUD news, tho. Hard to tell what happens next.
/edit

twitter: @leoinker | Find this post helpful? Merit it! Then donate some XEM: NDKYQJKJ5N5WTNNM5CXDJ3FNAACULZMN7DVARZH6 Smiley
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March 17, 2018, 03:58:42 PM
 #36389

We released a BaaS which can use NEM
http://techfund.io/

NEM can be handled easily with API, but you can leave it to us, such as setting up a test net's node.
Please try it and give me comments!
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March 17, 2018, 04:40:03 PM
 #36390

Looks like trust is not fully back in NEM or the hacker managed to dump more coins yesterday and today.

I'm still full bull on NEM, but this long price slump is hard on everybody.
How many NEM was held by this hacker?
If he can easily dump it to lower the price so much, how can NEM recover when people are worried about future dump all the time?

The hacker stole 10% of the entire XEM supply which was worth about $500,000,000 at the time.  He has only managed to sell about 40% so this is going to be a problem for a very long time.  You can see the effect of the past hacks playing out right now in Bitcoin (Mt. Gox trustee still has 160,000 to sell).  It isn't that much vs. the entire market especially over time but in a bear market that is all the news needed to panic sell.  Although I would argue that BTC is being driven down in price by a very big player with a very big short.  If one watches GDAX order book it is very clear there is an endless sell bot the bulls have been trying to buy in the 8-10K range for the last 1.5 weeks but they simply don't have enough money for him anymore.  So we're probably going down.  Isn't really a bear market but an ******* market right now.

Total was 523 million XEM or 5.8% of total supply not 10%.

This article states around half have been sold for other coins.  But doesn't mean they were sold on exchanges.
https://www.japantimes.co.jp/news/2018/03/17/business/coincheck-stop-handling-three-virtual-currencies-give-owners-anonymity/#.Wq1DOBPwbWY

Interesting is that Coincheck will drop privacy coins from their exchange, Monero, Dash, and Zcash.  Will others follow?


NEM   NanoWallet   SuperNodes   Apostille   Landstead   Catapult   Mijin
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March 17, 2018, 05:01:32 PM
 #36391

Nike says "Just Do It"

I say "Just Keep Buying XEM"
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March 17, 2018, 05:19:22 PM
 #36392

Apparently the Tokyo Whale hasn't sold any BTC since January. It's been other whales dumping.
He also denies that his previous sales affects market price. - However, I don't know why he thinks that it wouldn't - unless they were done OTC. But still, if someone bought OTC, then dumped - it would have the same effect.
Read about it here.

Interesting news nonetheless. Hopefully it helps quench some of the FUD.

twitter: @leoinker | Find this post helpful? Merit it! Then donate some XEM: NDKYQJKJ5N5WTNNM5CXDJ3FNAACULZMN7DVARZH6 Smiley
gentlemand
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March 17, 2018, 05:26:14 PM
 #36393

Total was 523 million XEM or 5.8% of total supply not 10%.

This article states around half have been sold for other coins.  But doesn't mean they were sold on exchanges.
https://www.japantimes.co.jp/news/2018/03/17/business/coincheck-stop-handling-three-virtual-currencies-give-owners-anonymity/#.Wq1DOBPwbWY

Interesting is that Coincheck will drop privacy coins from their exchange, Monero, Dash, and Zcash.  Will others follow?



Realisitically that's more than 10% of what's circulating. Supernodes, developer and foundation funds must be several billion.

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March 18, 2018, 12:28:33 AM
 #36394

I am reading here that the stolen coins have been tagged. How does that work exactly from a technical point of view? How would you track them all when they start to move around?

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March 18, 2018, 12:50:55 AM
 #36395

I am reading here that the stolen coins have been tagged. How does that work exactly from a technical point of view? How would you track them all when they start to move around?

Not the coins, but the accounts hosting them. They were tagged by sending a mosaic to them. However the hacker was too quick and it got away from them.

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March 18, 2018, 02:22:16 AM
 #36396

Well at least XEM is leading on something.  Out of the Top100 coins they are the furthest down today - 22%!
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March 18, 2018, 03:12:10 AM
 #36397

Well at least XEM is leading on something.  Out of the Top100 coins they are the furthest down today - 22%!
Get used to it, and welcome to the club Smiley
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March 18, 2018, 03:14:09 AM
 #36398

It was also the sole coin in the green a few days back because of the Coincheck refund. Swings and roundabouts, innit.

Hyjinx
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March 18, 2018, 03:21:53 AM
 #36399

Well at least XEM is leading on something.  Out of the Top100 coins they are the furthest down today - 22%!
Get used to it, and welcome to the club Smiley

Oh, I joined this club Sept. of 2017.  Was in and out of it - missed the bull run because I was mainly in BTC.  Thought $0.55 was a fair price given recent history but GOD DAMN!  I've already been burned by this thing before but wow.  So sad because it probably is one of the best projects in all of crypto but they just cannot catch a sustainable break - like ever.  But as I've been explaining here I don't think the management is so hot.
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March 18, 2018, 08:42:55 AM
 #36400

Well at least XEM is leading on something.  Out of the Top100 coins they are the furthest down today - 22%!
Get used to it, and welcome to the club Smiley

Oh, I joined this club Sept. of 2017.  Was in and out of it - missed the bull run because I was mainly in BTC.  Thought $0.55 was a fair price given recent history but GOD DAMN!  I've already been burned by this thing before but wow.  So sad because it probably is one of the best projects in all of crypto but they just cannot catch a sustainable break - like ever.  But as I've been explaining here I don't think the management is so hot.

The same situation at the club is a long time ago, and I still believe in the expensive price of this coin.

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