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

[NEMergizer]

I've a new NEM account that received a balance of 50,000 XEM more than 24 hours ago. I've activated the account delegate harvesting more than 24 hours ago. Now I can start harvesting, however whenever I try to start delegate harvesting I receive this error message:

ERROR 700
The provided account does not satisfy the basic criteria for harvesting. Mainly it is related to the amount of XEM within the account. Harvesting starts with at least 1000 XEM.

The account balance of 50,000 XEM has more than 2267 confirmations. And the account's vested balance is 0.00

What is vested balance? And when will I be able to harvest with the full account's balance?

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[NEMergizer]

I have some questions and I would be grateful if an experienced Nemer would spend some time to answer them:

- Can an account delegate harvest using multiple nodes at the same time?
- What is the difference if an account delegate harvest at only one node vs multiple nodes?
- Is it better to run multiple nodes in harvesting or it is the same as harvesting with multiple accounts @ 1 node?
- What is the best strategy in terms of harvesting more block while supporting the NEM network?

[Eadeqa]

Question for discussion:

Should exchanges be allowed to harvest?

You can't stop anyone from harvesting. Each account makes it's own decision

[g3rszpi]

Question for discussion:

Should exchanges be allowed to harvest?

You can't stop anyone from harvesting. Each account makes it's own decision

From what i know from some poloniex mods, their contract prohibits harvesting

[Tompa]

I've a new NEM account that received a balance of 50,000 XEM more than 24 hours ago. I've activated the account delegate harvesting more than 24 hours ago. Now I can start harvesting, however whenever I try to start delegate harvesting I receive this error message:

ERROR 700
The provided account does not satisfy the basic criteria for harvesting. Mainly it is related to the amount of XEM within the account. Harvesting starts with at least 1000 XEM.

The account balance of 50,000 XEM has more than 2267 confirmations. And the account's vested balance is 0.00

What is vested balance? And when will I be able to harvest with the full account's balance?

Short answer: in a day or two.

Longer answer: That 1000 xem is a typo being corrected. it should state 10.000 XEM
Balance becomes vested by the rate of 10% per day - so out of 50k in 24 you'll have 5k vested so you need 2 days to get to aforementioned 10k to be vested for harvesting to happen.
So everything is cool. Just wait a little bit moar ;-)

http://blog.nem.io/how-local-and-delegated-harvesting-works/
http://nem.io/faq.html#how-harvest

[mrvegad]

Question for discussion:

Should exchanges be allowed to harvest?

You can't stop anyone from harvesting. Each account makes it's own decision

From what i know from some poloniex mods, their contract prohibits harvesting

If poloniex is NBZMQO7ZPBYNBDUR7F75MAKA2S3DHDCIFG775N3D then they are harvesting

[Tompa]

I have some questions and I would be grateful if an experienced Nemer would spend some time to answer them:

- Can an account delegate harvest using multiple nodes at the same time?

AFAIK no... the client won't let you... Because when you enter the address of the client to whom you delegate it is set. You cannot change it to or add another client without stopping the harvesting...

- What is the difference if an account delegate harvest at only one node vs multiple nodes?

I believe I've answered with previous answer.

- Is it better to run multiple nodes in harvesting or it is the same as harvesting with multiple accounts @ 1 node?

If you're thinking on deviding your asset into different accounts and then trying to harvest with those different account simultaneously - the outcome will be the same... Your chance to hit the block will not improve.

- What is the best strategy in terms of harvesting more block while supporting the NEM network?

Have more XEM and make your node be useful (create a service or something that will generate a lot of unique traffic through that address)...

[Eadeqa]

Question for discussion:

Should exchanges be allowed to harvest?

You can't stop anyone from harvesting. Each account makes it's own decision

From what i know from some poloniex mods, their contract prohibits harvesting

What is a "contract" and what does  "poloniex" has to do with my answer? You can't stop anyone from harvesting and you can't stop any exchange from adding nem.

[nzminer]

Ive only harvested one block since the 1st of April and that block was on that very day!

Anyway, im wondering if local harvesting may work better? IDK, im pretty sure that block was harvested before deligated harvesting kicked in.
What does it mean with the "due by" option of one hour when you start deligated harvesting?
Should i have increased the number of hours?

[Tompa]

Ive only harvested one block since the 1st of April and that block was on that very day!

Anyway, im wondering if local harvesting may work better? IDK, im pretty sure that block was harvested before deligated harvesting kicked in.
What does it mean with the "due by" option of one hour when you start deligated harvesting?
Should i have increased the number of hours?

The first day was great for harvesting because of lots of txs (transactions) made to Poloniex. It was my best day too in harvesting so far...
I believe it's the same if you run it locally or delegated...

The due by has nothing to do with your importance score and it does not affect your harvesting ability in any kind.

It has to do with executing that transaction:
It is fine whatever value you set there, the client will try to execute everythin immediately, but if something goes wrong (bad internet connection etc.) after the value set - the order will be canceled... It is like an interval during which the transaction will be tried to be executed.

Glad to have you in our movement!

[luckygenough56]

I have to say that all those complicated POI or PoA (node) or whatever leads to nothing but messing people's minds and others trying to exploite the system by spamming transactions etc...

The best egalitarian system would be a totally random harvesting, that way people with 10000 or 5000000 balance would have the same chance to find a block, this is such a waste of time man, i can't believe this.

Harvesting is to support the network and gives equal chances to newcomers wtf it seems so obvious. You keep your nems in the hope that it will gain value like bitcoin or any other coins, no need to make it a harvesting ponzi or something and have people shouting that pos related systems are making the rich richer.

Man, this is so simple.

[nzminer]

Ive only harvested one block since the 1st of April and that block was on that very day!

Anyway, im wondering if local harvesting may work better? IDK, im pretty sure that block was harvested before deligated harvesting kicked in.
What does it mean with the "due by" option of one hour when you start deligated harvesting?
Should i have increased the number of hours?

The first day was great for harvesting because of lots of txs (transactions) made to Poloniex. It was my best day too in harvesting so far...
I believe it's the same if you run it locally or delegated...

The due by has nothing to do with your importance score and it does not affect your harvesting ability in any kind.

It has to do with executing that transaction:
It is fine whatever value you set there, the client will try to execute everythin immediately, but if something goes wrong (bad internet connection etc.) after the value set - the order will be canceled... It is like an interval during which the transaction will be tried to be executed.

Glad to have you in our movement!

No worries, hopefully when Bittrex and other exchanges add us there will be more trading volume etc.
Launch day was a frenzy!

[Tompa]

I have to say that all those complicated POI or PoA (node) or whatever leads to nothing but messing people's minds and others trying to exploite the system by spamming transactions etc...

The best egalitarian system would be a totally random harvesting, that way people with 10000 or 5000000 balance would have the same chance to find a block, this is such a waste of time man, i can't believe this.

Harvesting is to support the network and gives equal chances to newcomers wtf it seems so obvious. You keep your nems in the hope that it will gain value like bitcoin or any other coins, no need to make it a harvesting ponzi or something and have people shouting that pos related systems are making the rich richer.

Man, this is so simple.

No it is not simple...

I believe our devs would have it much easier for them to code a system where every node has the same chance on getting the block...
That wouldn't work because if I create a botnet with thousands of computers than i own the NEM.

Other route would be to give voting power to each monetary unit - like NXT did - then you have whales who get almost all the forging rewards and also it rewards hoarding

NEM is unique because of that Eigentrust model where the importance of each node is constantly calculated and it is most fair and also incentivizes spending and being useful and not just hoarding.

Glad to have you asking questions. Please stop by at http://nem.io/ and read more about NEM.

EDIT: also equal does not mean fair.

[mrvegad]

I have to say that all those complicated POI or PoA (node) or whatever leads to nothing but messing people's minds and others trying to exploite the system by spamming transactions etc...

The best egalitarian system would be a totally random harvesting, that way people with 10000 or 5000000 balance would have the same chance to find a block, this is such a waste of time man, i can't believe this.

Harvesting is to support the network and gives equal chances to newcomers wtf it seems so obvious. You keep your nems in the hope that it will gain value like bitcoin or any other coins, no need to make it a harvesting ponzi or something and have people shouting that pos related systems are making the rich richer.

Man, this is so simple.

No it is not simple...

I believe our devs would have it much easier for them to code a system where every node has the same chance on getting the block...
That wouldn't work because if I create a botnet with thousands of computers than i own the NEM.

Other route would be to give voting power to each monetary unit - like NXT did - then you have whales who get almost all the forging rewards and also it rewards hoarding

NEM is unique because of that Eigentrust model where the importance of each node is constantly calculated and it is most fair and also incentivizes spending and being useful and not just hoarding.

Glad to have you asking questions. Please stop by at http://nem.io/ and read more about NEM.

EDIT: also equal does not mean fair.

What about the power to pay for the botnet? If fees are not high enough then running the botnet would cost you money.

EDIT: with POI, the more XEM you have the higher your POI is, so those richer will have a better chance for rewards.

[gimre]

Question for discussion:

Should exchanges be allowed to harvest?

You can't stop anyone from harvesting. Each account makes it's own decision

From what i know from some poloniex mods, their contract prohibits harvesting

If poloniex is NBZMQO7ZPBYNBDUR7F75MAKA2S3DHDCIFG775N3D then they are harvesting

It's their call no one can stop them. Although I must say I wouldn't do that...

If they really do, I hope they're doing it on some separate node, not on the node they use for getting information.

[gimre]

I have some questions and I would be grateful if an experienced Nemer would spend some time to answer them:

- Can an account delegate harvest using multiple nodes at the same time?

If you mean using same delegated key on multiple nodes - yes

- What is the difference if an account delegate harvest at only one node vs multiple nodes?

none

- Is it better to run multiple nodes in harvesting or it is the same as harvesting with multiple accounts @ 1 node?

There shouldn't be noticeable difference, second is most-likely more eco-friendly.

[mrvegad]

Question for discussion:

Should exchanges be allowed to harvest?

You can't stop anyone from harvesting. Each account makes it's own decision

From what i know from some poloniex mods, their contract prohibits harvesting

If poloniex is NBZMQO7ZPBYNBDUR7F75MAKA2S3DHDCIFG775N3D then they are harvesting

It's their call no one can stop them. Although I must say I wouldn't do that...

If they really do, I hope they're doing it on some separate node, not on the node they use for getting information.

So exchanges are like banks then? Charge a fee to buy & sell and use the parked XEM for a high POI score so they can harvest blocks for the txs fees.

People hate banks for the profits they make off us but I guess it's ok for exchanges.

[jubalix]

so I have tried to istall the latest client ans it keep asking for 1.8 Java

I have installed java "8" several times now to try an fix that and restarted. No dice.

any help apreciated

[punapeter]

so I have tried to istall the latest client ans it keep asking for 1.8 Java

I have installed java "8" several times now to try an fix that and restarted. No dice.

any help apreciated

Do you mean that the NEM installer doesn't work? You need 64 bit Java for that.

[instacalm]

When will NEM be the new economy?
and not just NODE. Lol

It's a new economy movement, right?