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

[makoto1337]

Sorry this is just too long of a thread to keep up with, but what was the reason you lose 25% if you missed the Phase 1 deadline?

Because of the extra administrative trouble to handle an account as a special case. With thousands of stakeholders, it is hard to do all this.

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[JakeThePanda]

For the unclaimed stakes, the idea of putting them into a venture capital fund to feed the NEM ecosystem seems to have a lot of support. This fund would be a legal entity that is incorporated in some country and will be managed by professional fund managers who have their identities public. This would be completely outside of the control of the NEM dev team. All NEMsters would benefit by having the fund pay dividends to stake holders.



How would this fund work in practice? . I mean if you issue the fund with unclaimed stakes, the only way they can use them to invest in anything is to dump NEM on the market for BTC/cash or am I missing something?

I guess I'm the only one that thinks unclaimed stakes should remain in a holding fund waiting to be claimed.  They should remain forever waiting to be claimed.  Stealing someones money because they are inactive for not even a year yet?  That's something a bank would do.  

And how would you propose to do that?

I'm not a tech guys. I'm sure the genius programmers can figure it out.

Precisely the point. If you cannot have an answer it is also likely no one has the answer because it is not possible. How can a BTT account be clean from hackers who will be hacking their lives away to claim the NEM Stakes? BTT accounts are beyond anyone's control in the NEM development.

Don't need a rocket scientist to think this through.

Are you a rocket scientist?

[illodin]

Sorry this is just too long of a thread to keep up with, but what was the reason you lose 25% if you missed the Phase 1 deadline?

Because of the extra administrative trouble to handle an account as a special case. With thousands of stakeholders, it is hard to do all this.

How much is the 25% worth? If it's more than $25 that sounds like quite a hefty admin fee.

A PENALTY for those who dont keep up with the thread/project and participate at least once in a while.

Yes, I can understand why the active members would want to cut off the supply from others.

[makoto1337]

For the unclaimed stakes, the idea of putting them into a venture capital fund to feed the NEM ecosystem seems to have a lot of support. This fund would be a legal entity that is incorporated in some country and will be managed by professional fund managers who have their identities public. This would be completely outside of the control of the NEM dev team. All NEMsters would benefit by having the fund pay dividends to stake holders.



How would this fund work in practice? . I mean if you issue the fund with unclaimed stakes, the only way they can use them to invest in anything is to dump NEM on the market for BTC/cash or am I missing something?

I guess I'm the only one that thinks unclaimed stakes should remain in a holding fund waiting to be claimed.  They should remain forever waiting to be claimed.  Stealing someones money because they are inactive for not even a year yet?  That's something a bank would do.  

And how would you propose to do that?

I'm not a tech guys. I'm sure the genius programmers can figure it out.

Precisely the point. If you cannot have an answer it is also likely no one has the answer because it is not possible. How can a BTT account be clean from hackers who will be hacking their lives away to claim the NEM Stakes? BTT accounts are beyond anyone's control in the NEM development.

Don't need a rocket scientist to think this through.

Are you a rocket scientist?

He's a rocket head 

[makoto1337]

Sorry this is just too long of a thread to keep up with, but what was the reason you lose 25% if you missed the Phase 1 deadline?

Because of the extra administrative trouble to handle an account as a special case. With thousands of stakeholders, it is hard to do all this.

How much is the 25% worth? If it's more than $25 that sounds like quite a hefty admin fee.

A PENALTY for those who dont keep up with the thread/project and participate at least once in a while.

Yes, I can understand why the active members would want to cut off the supply from others.

It was going to be 0% originally, but it was later compromised to 75% for one month late, 50% for two months late, and 25% for three months late.

[Thingamajig]

why not give the rest away to new users? wouldnt it be in the interest of NEM to reach as many people as possible?

No, as continuously giving away coins mean that existing owners (especially those who paid for it on Nxt AE)  continue to lose money. We had one IPO -- not a hundred where you continue to give away coins forever. The new users should buy it . There should be reasons that they should be tempted to buy it.  

Aruracoin gave the whole country of Iceland "free" coins. It didn't gain "users" -- instead it killed aruracoin as those who got it for free immediately dumped them for BTC. Aurora is dead now.

i think you are pointing out a very valid conflict with free ipos. some people got it for free(or a minimal pocket change) at the start cause they were lucky enough to be at the right place at the right time, and the rest gets kinda left behind. so basically some get gifted, some not. that makes it even harder to convince people to invest into something, others got for nearly free.

This makes it necessary that you offer really strong reasons for new people to join the movement! Its hard to convince people to join something that gives and in the process of it give someone else a 1000% profit on his investment. Not to say its not gonna work!

All for the same reason why  unclaimed and sock coins should not be burnt. It will only consolidate the holdings of the balance of NS to a better position when most got them for literally next to nothing.

Agree. It would be better to actually use the non-claimed stakes for something useful that boosts the project in one way or another.

I think you have a simple conflict here.. people who already got their cheap stakes and want to have even more profit vs. people who stumbled upon NEM at a later point in time and want to join the movement without spending lots more than the original stakeholders. Id say its a basic greed game...

im quite excited how this one plays out

Absolutely, friggin' spot on.

The devs are going to have to look deep, really make a hard decision that truely benefits the project, because there will be alot of people who will be biased for their own gains - even those once thought of as prudent and honest. Baring in mind what you said, I propose that devs take things discussed with a pinch of salt.

[illodin]

Sorry this is just too long of a thread to keep up with, but what was the reason you lose 25% if you missed the Phase 1 deadline?

Because of the extra administrative trouble to handle an account as a special case. With thousands of stakeholders, it is hard to do all this.

How much is the 25% worth? If it's more than $25 that sounds like quite a hefty admin fee.

A PENALTY for those who dont keep up with the thread/project and participate at least once in a while.

Yes, I can understand why the active members would want to cut off the supply from others.

It was going to be 0% originally, but it was later compromised to 75% for one month late, 50% for two months late, and 25% for three months late.

If I would've been actively following NEM a few weeks ago, I would've recommended Phase 1 to last max 3 days, and 0% for everyone who misses that.

[asdlolciterquit]

Step three:

I have a doubt: the address in green in the picture is different from the address in the left cornet of the client! which one is the real address? which one should i have to use??

Is there any way to make sure that the address in green that i've copied is correct?

the address is the corner is testnet and the one you created is live net.. Livenet addresses start. With "N" where as test net start with "T". Once you have created and saved your data you can go to "verify account data" entrenched details and check that it is correct. You send off the address that gets created with the private and public key

thx a lot!
Now I have successfully registered my stake!

But i really don't understand how i can send my NEMStake to NXT-97MX-EWKV-CGKX-DA5WH....

Do i have to use an nxt client?? pls, help me!

I think you can use secureAe if that's what you are using. Go to account > portfolio/my assets > transfer asset(next to nemstake) and include a message containing you live net address and for recipient enter the nxt address you need to send it to. Don't encrypt.

Or use nxtclient.

for secureAe do you mean this?--> http://www.secureae.com/

I've never used it

Maybe it's better if i use nxtclient...i think is more simple, isn't it?

I haven't used SAE either but it seems some people have problems with it in regards to messages.
I'd strongly suggest to use the nxt client. It's simple and reliable.

thx a lot! i will try when i come back home this evening.

[jabo38]

I would really rather the rich not get richer (I am an original stake holder here btw).  

I would really like to see the extra NEM put in a system that promotes the ecosystem.  

I am hoping we can figure out a good plan to put the NEM to use in a way that makes the entire NEM system better.  

Rockethead talked about the long game.  I think this is right on point.  

We can just give the money equally to the people who hold on BTT and the people that bought on AE and make them richer, or we can burn the stakes which essentially does the same thing.  We could also just give the main devs as a big bonus.  They have worked really hard to make this and probably deserve it, but I don't want to do any of these things.

I want to see extra NEM get paid forward and be used to make NEM a much stronger ecosystem down the road.  And yes, the end result is that the original BTT stakeholders, and the AE stake buyers, and even the devs will be much better off.

Do you know the "Marshmallow Experiment"?  It was conducted at Stanford by famous professors.  They found that little children that could see the long game and could delay their gratification for a bigger reward went on to be much more successful in life as adults.  We need to be the good kids in the Marshmallow Experiment here and believe that in the long run, we are better off by not trying to make ourselves richer, but by trying to get other people and third party devs into NEM.  https://en.wikipedia.org/wiki/Stanford_marshmallow_experiment

why not give the rest away to new users? wouldnt it be in the interest of NEM to reach as many people as possible?

No, as continuously giving away coins mean that existing owners (especially those who paid for it on Nxt AE)  continue to lose money. We had one IPO -- not a hundred where you continue to give away coins forever. The new users should buy it . There should be reasons that they should be tempted to buy it.  

Aruracoin gave the whole country of Iceland "free" coins. It didn't gain "users" -- instead it killed aruracoin as those who got it for free immediately dumped them for BTC. Aurora is dead now.

i think you are pointing out a very valid conflict with free ipos. some people got it for free(or a minimal pocket change) at the start cause they were lucky enough to be at the right place at the right time, and the rest gets kinda left behind. so basically some get gifted, some not. that makes it even harder to convince people to invest into something, others got for nearly free.

This makes it necessary that you offer really strong reasons for new people to join the movement! Its hard to convince people to join something that gives and in the process of it give someone else a 1000% profit on his investment. Not to say its not gonna work!

All for the same reason why  unclaimed and sock coins should not be burnt. It will only consolidate the holdings of the balance of NS to a better position when most got them for literally next to nothing.

Agree. It would be better to actually use the non-claimed stakes for something useful that boosts the project in one way or another.

I think you have a simple conflict here.. people who already got their cheap stakes and want to have even more profit vs. people who stumbled upon NEM at a later point in time and want to join the movement without spending lots more than the original stakeholders. Id say its a basic greed game...

im quite excited how this one plays out

Absolutely, friggin' spot on.

The devs are going to have to look deep, really make a hard decision that truely benefits the project, because there will be alot of people who will be biased for their own gains - even those once thought of as prudent and honest. Baring in mind what you said, I propose that devs take things discussed with a pinch of salt.

[nembit86]

Sorry this is just too long of a thread to keep up with, but what was the reason you lose 25% if you missed the Phase 1 deadline?

Because of the extra administrative trouble to handle an account as a special case. With thousands of stakeholders, it is hard to do all this.

How much is the 25% worth? If it's more than $25 that sounds like quite a hefty admin fee.

A PENALTY for those who dont keep up with the thread/project and participate at least once in a while.

Yes, I can understand why the active members would want to cut off the supply from others.

You see,this is the point.....EVERYBODY participating should be ACTIVE MEMBERS.......do you get it now?

[rigel]

I would really rather the rich not get richer (I am an original stake holder here btw).  

I would really like to see the extra NEM put in a system that promotes the ecosystem.  

Agree 100%

[pgb]

Eadeqa your supposed to be a "respected" member of the nxt community.. stop talking shit about nem as if nem has done something to personally harm you. i know you want to "fit in with the gang" and all but this is just lowering you to a bottom feeding troll destroying what ever respect you had.

This isn't a new point.  Nxt didn't have development fund, so unclaimed coins went to development development.  Nem already allocated 25% for the development, and now they are planning to add unclaimed coins to that stash, growing the development fund to 50%.   I mentioned this months ago, and back then Jaguar acknowledge this could become a problem. Nothing has been done to fix it, except doing exactly what I warned will happen.  Nem has the biggest percentage of coins controlled by the developers, only behind Ripple.

50% of coins would be controlled by the developers.

You do put in a lot of energy into deliberatly distorting information despite previous answers you received.

I wonder, have you also considered contributing with something?

I notice most people simply ignore your comments and it seems to be for a very good reason.

Well, he contributed with something. He got a number out of his hat, 50%. That means he "knows" 1000 stake holders won't claim their stake. Maybe he should change his name to Oracle or something like that.

[illodin]

You see,this is the point.....EVERYBODY participating should be ACTIVE MEMBERS.......do you get it now?

I don't recall that being a requirement in the original thread where you registered for a stake.

But if I was an active member, I would agree with you 100%.

[juicejoyce]

one question:
in AE,
I transferred all my asset to the required account before,
but now I bought some more in AE, should I transfer this amouts to the required account again?

[cryptoconomist]

Sorry guys I'm lost?

how do I do that?

"Send your NEMStake to NXT-97MX-EWKV-CGKX-DA5WH including an unencrypted message consisting of your real NEM address created with the BETA client, according to the screenshots above. Don't send your private key!"

I have done all other steps...

My NEMStake? how do I send that? and what is my NAMEStake?

So far I have register my token, installed NEM beta and create a real account

[cryptoconomist]

Sorry guys I'm lost?

how do I do that?

"Send your NEMStake to NXT-97MX-EWKV-CGKX-DA5WH including an unencrypted message consisting of your real NEM address created with the BETA client, according to the screenshots above. Don't send your private key!"

I have done all other steps...

My NEMStake? how do I send that? and what is my NAMEStake?

So far I have register my token, installed NEM beta and create a real account

did you claim your nemstake to be sent to you on nxt AE? i assume not.. if not you just have to go to the registration site and enter your token and real nem address and thats it then your done.

ok what is the registration website?

thanks

[cryptoconomist]

Sorry guys I'm lost?

how do I do that?

"Send your NEMStake to NXT-97MX-EWKV-CGKX-DA5WH including an unencrypted message consisting of your real NEM address created with the BETA client, according to the screenshots above. Don't send your private key!"

I have done all other steps...

My NEMStake? how do I send that? and what is my NAMEStake?

So far I have register my token, installed NEM beta and create a real account

did you claim your nemstake to be sent to you on nxt AE? i assume not.. if not you just have to go to the registration site and enter your token and real nem address and thats it then your done.

ok what is the registration website?

thanks

 https://chain.nem.ninja/stakes/

ok thanks that is done now

how long before I get the coins?

[juicejoyce]

one question:
in AE,
I transferred all my asset to the required account before,
but now I bought some more in AE, should I transfer this amouts to the required account again?

if you bought more then yes just go through the same process again.. afaik you can use the same address as you did for the stake(s) you already sent off.

thanks, I will do that as you said.

[xtester]

Sorry guys I'm lost?

how do I do that?

"Send your NEMStake to NXT-97MX-EWKV-CGKX-DA5WH including an unencrypted message consisting of your real NEM address created with the BETA client, according to the screenshots above. Don't send your private key!"

I have done all other steps...

My NEMStake? how do I send that? and what is my NAMEStake?

So far I have register my token, installed NEM beta and create a real account

did you claim your nemstake to be sent to you on nxt AE? i assume not.. if not you just have to go to the registration site and enter your token and real nem address and thats it then your done.

ok what is the registration website?

thanks

 https://chain.nem.ninja/stakes/

ok thanks that is done now

how long before I get the coins?

not sure yet.. not very long at all considering how long everyone has waited already

A deadline toward which we're pushing should be published soon.

[cryptoconomist]

Sorry guys I'm lost?

how do I do that?

"Send your NEMStake to NXT-97MX-EWKV-CGKX-DA5WH including an unencrypted message consisting of your real NEM address created with the BETA client, according to the screenshots above. Don't send your private key!"

I have done all other steps...

My NEMStake? how do I send that? and what is my NAMEStake?

So far I have register my token, installed NEM beta and create a real account

did you claim your nemstake to be sent to you on nxt AE? i assume not.. if not you just have to go to the registration site and enter your token and real nem address and thats it then your done.

ok what is the registration website?

thanks

 https://chain.nem.ninja/stakes/

ok thanks that is done now

how long before I get the coins?

not sure yet.. not very long at all considering how long everyone has waited already

great thanks for your help