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

[nvaler]

I just read the latest release and I was amazed!!!

I hope XEM will be used to be studied by Computer Science student as it truly represent Bitcoin 2.0 it solves all the dadvantages of Bitcoin and other cryptocurrencies!!!

goodluck guys!!!

[Eadeqa]

For now NEM would be better in terms of:
- No inflation.
- Multi signature transactions.
- Encrypted messaging.
- Light weight blockchain/algorithm.

None of these are unique feature. You are competing against dozens of other coins. More seriously there is no interest in crypto outside of people who are already involved  (99%  of them are speculators  hoping to make money in future, rest are scammers or drug dealers).

[sdersdf3]

NEM has a massive fund set aside for marketing, so the potential is there. How I feel is we have 1 shot at doing something right, why should we rush it? Should the development team start spending marketing funds now while we still have features in development, or should we wait and market heavily after v1? I'd expect the latter to be more effective.

It's like spending money on an ad, "Hey, buy this car. One day it'll go 100 miles on the gallon, but right now we're still working on that feature."
I think if we pump money into marketing right now, it will mostly be targeting the "investor" type of people. The hype will cause a lot of buying pressure, causing the price to go up too fast. If the v1 features aren't rolled out in a timely manner we'll see a lot of disappointed holders, lots of complaining and we'll likely see a very slow devaluation back to pre marketing levels.

If we don't rush this, and take it slow I think this will happen. More than likely we'll see the antsy "investors" selling early, remember these are the people that are only here for the money. The development team will ninja launch features and over time we'll see a slow healthy growth in price while bringing in real USERS.

i fully agree, and i think most of the team does too but i obviously cant speak on there behalf. advertising at this stage would be closer to spam really. i looked into advertising costs on the likes of cointelegraph and coinmarketcap and some other sites, but the cost i think far outweighs what ever benefit we would get. once more features are rolled out and the marketcap is higher, only then would spending large amounts of money on advertising be a worth while venture. until then, we should focus on producing ground breaking tech and getting the platform to stage where it can be used for a wide variety of uses. so in that respect, it really doesnt make sense to blow huge amounts of funding pre-V1.

I think NEM would see serious action if at least some of the top devs / whitepaper authors (particularly the PhD guys) went public with their identities. Reputation counts for a lot - especially these days. Many people dont pay attention to what you do unless there's a big name / university attached to it - then they read what you put it out and follow what you say. A proper academic working paper formatted the way academic papers usually are - with the identities and university affiliations of the main authors - could help give XEM some of the credibility it needs to rise from the sea of anonymous crypto coins that many people dont seem to take very seriously anymore.

[jabo38]

Announcement

The general plan for NEM node rewards has been drafted and is now ready for public comment. If you have any queries, comments or suggestions you would like to make to improve this program, please post them at the forum or at the blog.  You can download the draft here

[jabo38]

NEM has a massive fund set aside for marketing, so the potential is there. How I feel is we have 1 shot at doing something right, why should we rush it? Should the development team start spending marketing funds now while we still have features in development, or should we wait and market heavily after v1? I'd expect the latter to be more effective.

It's like spending money on an ad, "Hey, buy this car. One day it'll go 100 miles on the gallon, but right now we're still working on that feature."
I think if we pump money into marketing right now, it will mostly be targeting the "investor" type of people. The hype will cause a lot of buying pressure, causing the price to go up too fast. If the v1 features aren't rolled out in a timely manner we'll see a lot of disappointed holders, lots of complaining and we'll likely see a very slow devaluation back to pre marketing levels.

If we don't rush this, and take it slow I think this will happen. More than likely we'll see the antsy "investors" selling early, remember these are the people that are only here for the money. The development team will ninja launch features and over time we'll see a slow healthy growth in price while bringing in real USERS.

i fully agree, and i think most of the team does too but i obviously cant speak on there behalf. advertising at this stage would be closer to spam really. i looked into advertising costs on the likes of cointelegraph and coinmarketcap and some other sites, but the cost i think far outweighs what ever benefit we would get. once more features are rolled out and the marketcap is higher, only then would spending large amounts of money on advertising be a worth while venture. until then, we should focus on producing ground breaking tech and getting the platform to stage where it can be used for a wide variety of uses. so in that respect, it really doesnt make sense to blow huge amounts of funding pre-V1.

I think NEM would see serious action if at least some of the top devs / whitepaper authors (particularly the PhD guys) went public with their identities. Reputation counts for a lot - especially these days. Many people dont pay attention to what you do unless there's a big name / university attached to it - then they read what you put it out and follow what you say. A proper academic working paper formatted the way academic papers usually are - with the identities and university affiliations of the main authors - could help give XEM some of the credibility it needs to rise from the sea of anonymous crypto coins that many people dont seem to take very seriously anymore.

Makoto (a core dev and inventor of PoI) has been to conferences representing NEM and has been attending NEM meetups in Japan.  

Other people like myself also use real names too and also attend meetings and conferences.  

[sirnoah]

nice... XEM will explode....my spider sense is tingling...

[makoto1337]

Announcement

The general plan for NEM node rewards has been drafted and is now ready for public comment. If you have any queries, comments or suggestions you would like to make to improve this program, please post them at the forum or at the blog.  You can download the draft here

Or comment on muut here: https://muut.com/neweconomy#!/community-fund-dao:node-rewards-programme-whit

[svenw]

I absolutely support NEM

[mladen00]

NEM has a massive fund set aside for marketing, so the potential is there. How I feel is we have 1 shot at doing something right, why should we rush it? Should the development team start spending marketing funds now while we still have features in development, or should we wait and market heavily after v1? I'd expect the latter to be more effective.

It's like spending money on an ad, "Hey, buy this car. One day it'll go 100 miles on the gallon, but right now we're still working on that feature."
I think if we pump money into marketing right now, it will mostly be targeting the "investor" type of people. The hype will cause a lot of buying pressure, causing the price to go up too fast. If the v1 features aren't rolled out in a timely manner we'll see a lot of disappointed holders, lots of complaining and we'll likely see a very slow devaluation back to pre marketing levels.

If we don't rush this, and take it slow I think this will happen. More than likely we'll see the antsy "investors" selling early, remember these are the people that are only here for the money. The development team will ninja launch features and over time we'll see a slow healthy growth in price while bringing in real USERS.

i fully agree, and i think most of the team does too but i obviously cant speak on there behalf. advertising at this stage would be closer to spam really. i looked into advertising costs on the likes of cointelegraph and coinmarketcap and some other sites, but the cost i think far outweighs what ever benefit we would get. once more features are rolled out and the marketcap is higher, only then would spending large amounts of money on advertising be a worth while venture. until then, we should focus on producing ground breaking tech and getting the platform to stage where it can be used for a wide variety of uses. so in that respect, it really doesnt make sense to blow huge amounts of funding pre-V1.

I think NEM would see serious action if at least some of the top devs / whitepaper authors (particularly the PhD guys) went public with their identities. Reputation counts for a lot - especially these days. Many people dont pay attention to what you do unless there's a big name / university attached to it - then they read what you put it out and follow what you say. A proper academic working paper formatted the way academic papers usually are - with the identities and university affiliations of the main authors - could help give XEM some of the credibility it needs to rise from the sea of anonymous crypto coins that many people dont seem to take very seriously anymore.

Idea to going public with their indentity is great.
It means a lot for a new investors, that dev's are standing by their project with real indentity

[sdersdf3]

Idea to going public with their indentity is great.
It means a lot for a new investors, that dev's are standing by their project with real indentity

Exactly - that's the other aspect of it that gives investors in this skeptical/cynical crypto climate a lot more confidence. Just look at the history of crypto itself. Some of the biggest gains (at least initially) went to coins with devs who went public. I remember DRK and XC had some of the biggest earliest altcoin surges when their devs went public. People have been burned to often by anon devs on other coins, and many dont understand the tech innovation. But they do understand when an expert in the field is backing things. It matters.

[patmast3r]

Idea to going public with their indentity is great.
It means a lot for a new investors, that dev's are standing by their project with real indentity

Exactly - that's the other aspect of it that gives investors in this skeptical/cynical crypto climate a lot more confidence. Just look at the history of crypto itself. Some of the biggest gains (at least initially) went to coins with devs who went public. I remember DRK and XC had some of the biggest earliest altcoin surges when their devs went public. People have been burned to often by anon devs on other coins, and many dont understand the tech innovation. But they do understand when an expert in the field is backing things. It matters.

There are people that hate NEM. And I do mean hate. I'm not sure they have proper reason but that's not the point. Going public as being a core dev and decision maker in NEM is like paiting a target on your back and shouting "Come get me".

It would be great for the project but potentially disastrous for the people.

[sdersdf3]

Idea to going public with their indentity is great.
It means a lot for a new investors, that dev's are standing by their project with real indentity

Exactly - that's the other aspect of it that gives investors in this skeptical/cynical crypto climate a lot more confidence. Just look at the history of crypto itself. Some of the biggest gains (at least initially) went to coins with devs who went public. I remember DRK and XC had some of the biggest earliest altcoin surges when their devs went public. People have been burned to often by anon devs on other coins, and many dont understand the tech innovation. But they do understand when an expert in the field is backing things. It matters.

There are people that hate NEM. And I do mean hate. I'm not sure they have proper reason but that's not the point. Going public as being a core dev and decision maker in NEM is like paiting a target on your back and shouting "Come get me".

It would be great for the project but potentially disastrous for the people.

Sad to say, but that's undoubtedly true. It's the sort of negative dynamic / negative feedback loop that I fear is driving the entire crypto ecosystem down the drain.

You don't get trust if you don't give trust - you don't trust people, people don't trust you - distrust breeds more distrust.

Tech is great. Unfortunately, human nature sucks. And down goes the collective market cap of the crypto ecosystem over time. Hopefully, someone comes up with a new innovation to get around these issues.

[bisom]

Can anybody explain NEM Node Rewards system briefly? Especially payouts section?

[patmast3r]

Can anybody explain NEM Node Rewards system briefly? Especially payouts?

https://forum.ournem.com/general-discussion/nem-node-reward-discussion/msg17200/#new

[bisom]

Can anybody explain NEM Node Rewards system briefly? Especially payouts?

https://forum.ournem.com/general-discussion/nem-node-reward-discussion/msg17200/#new

I have already read. also i noticed that you have questions about the payouts. so devs should clarify this subject i think.

[jabo38]

NEM has a massive fund set aside for marketing, so the potential is there. How I feel is we have 1 shot at doing something right, why should we rush it? Should the development team start spending marketing funds now while we still have features in development, or should we wait and market heavily after v1? I'd expect the latter to be more effective.

It's like spending money on an ad, "Hey, buy this car. One day it'll go 100 miles on the gallon, but right now we're still working on that feature."
I think if we pump money into marketing right now, it will mostly be targeting the "investor" type of people. The hype will cause a lot of buying pressure, causing the price to go up too fast. If the v1 features aren't rolled out in a timely manner we'll see a lot of disappointed holders, lots of complaining and we'll likely see a very slow devaluation back to pre marketing levels.

If we don't rush this, and take it slow I think this will happen. More than likely we'll see the antsy "investors" selling early, remember these are the people that are only here for the money. The development team will ninja launch features and over time we'll see a slow healthy growth in price while bringing in real USERS.

I agree so much!

[patmast3r]

Can anybody explain NEM Node Rewards system briefly? Especially payouts?

https://forum.ournem.com/general-discussion/nem-node-reward-discussion/msg17200/#new

I have already read. also i noticed that you have questions about the payouts. so devs should clarify this subject i think.

Here's the way I understand it.

You need 1 account hat holds at least 3 million XEM.
You need to active delegated harvesting for that account.
You need to boot your node with the remote-priv-key for that account
You need to send an unencrypted message "opt-in" from that account to NAFUNDBUKIOSTMD4BNXL7ZFE735QHN7A3FBS6CMY

That's all you need to do to set things up.

The whole thing is a lottery so there are no guaranteed fixed payouts but there will be many and regular lottery "draws" so most likely everyone will win at some point.

The whole aging thing is prob something noone needs to concern himself with. Best thing is to just set it up and then wait for rewards

[svenw]

When I try to shift for delegated Harvesting it says max number on server reached. Is it like luck to get a spot on the harvesting server?
I have not really understood that topic. Also why do you have to pay to harvest?
I agree with jabo on the marketing approach...

[bisom]

Can anybody explain NEM Node Rewards system briefly? Especially payouts?

https://forum.ournem.com/general-discussion/nem-node-reward-discussion/msg17200/#new

I have already read. also i noticed that you have questions about the payouts. so devs should clarify this subject i think.

Here's the way I understand it.

You need 1 account hat holds at least 3 million XEM.
You need to active delegated harvesting for that account.
You need to boot your node with the remote-priv-key for that account
You need to send an unencrypted message "opt-in" from that account to NAFUNDBUKIOSTMD4BNXL7ZFE735QHN7A3FBS6CMY

That's all you need to do to set things up.

The whole thing is a lottery so there are no guaranteed fixed payouts but there will be many and regular lottery "draws" so most likely everyone will win at some point.

The whole aging thing is prob something noone needs to concern himself with. Best thing is to just set it up and then wait for rewards

thanks @patmast3r. I guess the best thing i can do is wait for a while.

[jabo38]

When I try to shift for delegated Harvesting it says max number on server reached. Is it like luck to get a spot on the harvesting server?
I have not really understood that topic. Also why do you have to pay to harvest?
I agree with jabo on the marketing approach...

Hi 

If you just have an account and you want to harvest, you can harvest on your own node at your home, or you can try to find somebody else who has an open spot.  If you find one, they will do everything for you.  If not, it is still easy to harvest at home. 

You pay nothing to form blocks and earn fees from block.  always.   This is also determined by your POI.   The higher your POI, the more blocks you will make and the more fees you will earn.

With node rewards, you don't have to pay anything either, but you do need to prove you own so much XEM to participate, but that XEM will always be yours in your account.  If anybody asks you to pay something, please don't do it. 

The amount in your account to participate is currently set at 3 million, but this is still in discussion.  Generally it needs to be high to avoid centralization.  XEM is a scarce resource, and making a high deposit keeps any one person from running all the nodes and taking most of the rewards. 

A long time ago there was a program on the BOINC program by Ripple, where they were paying people, but because there was no deposit, anybody could join.  People ran lots and lots of computers taken over by malware and gamed the system.  If we allow just anybody who runs a node to get rewards, then for sure somebody will cheat the system and run hundreds of nodes probably acquired in bad ways and take the lion share of the XEM and just dump it on the market.  That is what happened to Ripple so they had to close their mining program. But with XEM set up in your account by yourself, it keeps people from gaming the system and keeps the NEM network from becoming centralized.