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

[Eadeqa]

now maybe i'm behind in all the goings on here, but is there a decision and breakdown of said decision on what the remaining coins are earmarked for?

i did see something on the nem forum, but yeah seemed unrealistic figures for such small time things as android wallets etc, so i guessed it wasn't a set in stone breakdown? ie why be in such a hurry to get rid of coins on projects and thus massively devalue xem?

This is the blog you are looking for to get you up to date. http://blog.nem.io/update-sustainability-fund-final-redemption-numbers/

We spent a lot of time trying to be very careful and transparent as possible as we planned this. There are links for the accounts that go to the block explorer.  The main account that has been spent from is the mobile/NCC fund of which more than half is left, and we have almost finished paying for the apps so the good news is our budget worked out fine and will be able to continue to support development after the apps are released.

On that note. A new iOS version was released today. Testing is going well.  It is now more about working out the last bugs and getting the final tweaks in at this point. It's been a long 9 months. Much longer than we first thought.

yes i've seen the breakdown, very surprising, the amounts given for each venture    in my thinking significantly devalues the currency (not that giving it away, and much of that being gamed already didn't).

and why the hurry? like a global supply of currency should at minimum be kept funding the projects for a decade +.....if the goal is a usable global currency, and i would have thought the reason why there is so many billions of XEM is for that purpose?

i mean 329,599,242.98 XEM simply for a mobile app 

also is the funds in each category going into the various developers pockets? so therefore simply to be dumped on the market in order to receive remuneration?

Jesus that greatly devalues xem. Not to mention yes it will be dumped and absolutely destroy the price.

Didn't I say this will happen when  developers confiscated all the unclaimed funds instead of destroying them? It's just the beginning. Watch prices drop down further to under 10 sat  in the next 12 months.

[Eadeqa]

ETH raised over 15 million, so it is somewhat expected to be hyped about.
Their command line interface is somewhat underwhelming, & they don't even have an official wallet yet, and state
you're download it at your own risk 
https://www.ethereum.org/ether 

And despite that they have very high volume. Imagine when they have official client and non-beta release. They probably will overtake BTC. Nem can only go down from here, not up.

[greentea]

ETH raised over 15 million, so it is somewhat expected to be hyped about.
Their command line interface is somewhat underwhelming, & they don't even have an official wallet yet, and state
you're download it at your own risk 
https://www.ethereum.org/ether 

And despite that they have very high volume. Imagine when they have official client and non-beta release. They probably will overtake BTC. Nem can only go down from here, not up.

Actually a great time to buy NEM, as the downside is limited

ETH still down about 70% from its high 

[patmast3r]

37k for a mobile app?  Well definitely want to see some real updates before I invest any further in NEM, this sounds a bit scammy and disappointing. I've red the White Paper and it was so beautifull, consistent and eloquent, but these kind of actions make me seriously doubt the intentions of the devs. Do they want to create a legimite worldwide economic blockchain platform, or do they just want to grab the money and gtfo?

Any big updates coming for NEM? When and what are they about?

What are you talking about ? You realize those 37k are for a thirdparty that is developing the app right ? As in a company where people work that develop apps for a living ?

Get real people...Some things cost money and like i said...it's not that much by comparison.

[nembit86]

if NEM is dead ,why do you guys keep trolling this thread ? my thoughts are that you know there are projects going on and you just want to encourage people to sell so you can pick up cheap XEM.....very clever guys...

DO NOT SELL your XEM ....... you WILL regret it if you do.........!!!!!!!

the headwinds are dying down......crypto and NEM will benefit in the not too distant future.....

[b1007]

37k for a mobile app?  Well definitely want to see some real updates before I invest any further in NEM, this sounds a bit scammy and disappointing. I've red the White Paper and it was so beautifull, consistent and eloquent, but these kind of actions make me seriously doubt the intentions of the devs. Do they want to create a legimite worldwide economic blockchain platform, or do they just want to grab the money and gtfo?

Any big updates coming for NEM? When and what are they about?

What are you talking about ? You realize those 37k are for a thirdparty that is developing the app right ? As in a company where people work that develop apps for a living ?

Get real people...Some things cost money and like i said...it's not that much by comparison.

Okay so what's the app all about actually?

[patmast3r]

37k for a mobile app?  Well definitely want to see some real updates before I invest any further in NEM, this sounds a bit scammy and disappointing. I've red the White Paper and it was so beautifull, consistent and eloquent, but these kind of actions make me seriously doubt the intentions of the devs. Do they want to create a legimite worldwide economic blockchain platform, or do they just want to grab the money and gtfo?

Any big updates coming for NEM? When and what are they about?

What are you talking about ? You realize those 37k are for a thirdparty that is developing the app right ? As in a company where people work that develop apps for a living ?

Get real people...Some things cost money and like i said...it's not that much by comparison.

Okay so what's the app all about actually?

It's a mobile wallet.
-You can send, receive XEM (duh!).
-You can use it as 2FA for your wallet. I.e. have a multi-sig account and have one signatory in the app. So you can issue a tx from PC and then confirm it on mobile.
-QR export and import
-kind of an invoice system (also via QR)
-contacts

prob a bunch of other stuff I'm missing right now and obviously way more features planned (including mosaics).

Let me speed the conversation along...

Very basic features, this shouldn't be taking so long.

Yes, it has taken way longer than it should have. Noone is happy about that.

No ETA on release but everyone can join slack/telegram and become a tester

[b1007]

37k for a mobile app?   Well definitely want to see some real updates before I invest any further in NEM, this sounds a bit scammy and disappointing. I've red the White Paper and it was so beautifull, consistent and eloquent, but these kind of actions make me seriously doubt the intentions of the devs. Do they want to create a legimite worldwide economic blockchain platform, or do they just want to grab the money and gtfo?

Any big updates coming for NEM? When and what are they about?

What are you talking about ? You realize those 37k are for a thirdparty that is developing the app right ? As in a company where people work that develop apps for a living ?

Get real people...Some things cost money and like i said...it's not that much by comparison.

Okay so what's the app all about actually?

It's a mobile wallet.
-You can send, receive XEM (duh!).
-You can use it as 2FA for your wallet. I.e. have a multi-sig account and have one signatory in the app. So you can issue a tx from PC and then confirm it on mobile.
-QR export and import
-kind of an invoice system (also via QR)
-contacts

prob a bunch of other stuff I'm missing right now and obviously way more features planned (including mosaics).

Let me speed the conversation along...

Very basic features, this shouldn't be taking so long.

Yes, it has taken way longer than it should have. Noone is happy about that.

No ETA on release but everyone can join slack/telegram and become a tester

I still think it's way too expensive

[patmast3r]

37k for a mobile app?   Well definitely want to see some real updates before I invest any further in NEM, this sounds a bit scammy and disappointing. I've red the White Paper and it was so beautifull, consistent and eloquent, but these kind of actions make me seriously doubt the intentions of the devs. Do they want to create a legimite worldwide economic blockchain platform, or do they just want to grab the money and gtfo?

Any big updates coming for NEM? When and what are they about?

What are you talking about ? You realize those 37k are for a thirdparty that is developing the app right ? As in a company where people work that develop apps for a living ?

Get real people...Some things cost money and like i said...it's not that much by comparison.

Okay so what's the app all about actually?

It's a mobile wallet.
-You can send, receive XEM (duh!).
-You can use it as 2FA for your wallet. I.e. have a multi-sig account and have one signatory in the app. So you can issue a tx from PC and then confirm it on mobile.
-QR export and import
-kind of an invoice system (also via QR)
-contacts

prob a bunch of other stuff I'm missing right now and obviously way more features planned (including mosaics).

Let me speed the conversation along...

Very basic features, this shouldn't be taking so long.

Yes, it has taken way longer than it should have. Noone is happy about that.

No ETA on release but everyone can join slack/telegram and become a tester

I still think it's way too expensive, for comparison, the Gulden devs started a whole company for only 1k in Gulden, they have lots and lots of updates free of charge, they built apps which you can use to pay everywhere where bitcoin is already accepted for only about 0.5 k, Just a mobile app for 37k sorry that is ridiculous in my opinion, I will not invest any further in this thing untill the first big real value projects are being released and I advise all others to take the same attitude, to me it sounds like a very risky enterprise...

Looking at the premine list of gulden the app is mentioned like 10k times and also seems to have been community funded. Not exactly for free either is it ?

https://developer.gulden.com/premine/

Have you ever been involved in getting an app developed for professional usage by customers ? I have, multiple times in the company I work for and that price is relatively reasonable.

Of course it's a risky enterprise.

[mill0601]

37k for a mobile app?   Well definitely want to see some real updates before I invest any further in NEM, this sounds a bit scammy and disappointing. I've red the White Paper and it was so beautifull, consistent and eloquent, but these kind of actions make me seriously doubt the intentions of the devs. Do they want to create a legimite worldwide economic blockchain platform, or do they just want to grab the money and gtfo?

Any big updates coming for NEM? When and what are they about?

What are you talking about ? You realize those 37k are for a thirdparty that is developing the app right ? As in a company where people work that develop apps for a living ?

Get real people...Some things cost money and like i said...it's not that much by comparison.

Okay so what's the app all about actually?

It's a mobile wallet.
-You can send, receive XEM (duh!).
-You can use it as 2FA for your wallet. I.e. have a multi-sig account and have one signatory in the app. So you can issue a tx from PC and then confirm it on mobile.
-QR export and import
-kind of an invoice system (also via QR)
-contacts

prob a bunch of other stuff I'm missing right now and obviously way more features planned (including mosaics).

Let me speed the conversation along...

Very basic features, this shouldn't be taking so long.

Yes, it has taken way longer than it should have. Noone is happy about that.

No ETA on release but everyone can join slack/telegram and become a tester

I still think it's way too expensive, for comparison, the Gulden devs started a whole company for only 1k in Gulden, they have lots and lots of updates free of charge, they built apps which you can use to pay everywhere where bitcoin is already accepted for only about 0.5 k, Just a mobile app for 37k sorry that is ridiculous in my opinion, I will not invest any further in this thing untill the first big real value projects are being released and I advise all others to take the same attitude, to me it sounds like a very risky enterprise...

Looking at the premine list of gulden the app is mentioned like 10k times and also seems to have been community funded. Not exactly for free either is it ?

https://developer.gulden.com/premine/

Have you ever been involved in getting an app developed for professional usage by customers ? I have, multiple times in the company I work for and that price is relatively reasonable.

Of course it's a risky enterprise.

I live in one of the most expensive cities in the world and an app like this would be 5k maybe 7k tops. And it would definitely not take 9 months.

[cryptonit]

xem- fuel of world economy

LOL .. the word "fuel" is stolen from ethereum. Plus funny usage of "world economy" when you have no market share and no buyers

if at all the word "fuel" its stolen borrowed from fuelcoin
ethereum use the word "gas"

[patmast3r]

this just in: The app costs around 20k and is almost entirely paid for already.

[Eadeqa]

If nem was such a "fuel" for world economy, people would write apps for it without getting paid by nem developers. They would make profit by either selling that app or other means (adds) like most other app developers do. Many people writing software/apps for bitcoin (and now ethereum) don't get paid by bitcoin foundation or ethereum developers. They see a future in it and are speculators who think it's the right investment in time/money.

Like all said months ago, close to 50% of nem weren't even distributed, so market cap was totally fake,  and the prices could only go down (not up) as these coins are dumped in months and years.

[jabo38]

this just in: The app costs around 20k and is almost entirely paid for already.

I would like to bring some clarity about the app.  Lots of information is being thrown around that is not accurate. 

First, there is not one app, there are two.  One is being written for Android and the other in iOS, so there are two teams, working in two languages for two different platforms and having to coordinate to make this a cross platform set of apps.   

Second, NEM is 100% new code.  If NEM was a Bitcoin clone, we could also clone some previously made Bitcoin app and rebrand it as our own.  That is not the case.  These apps are being written from scratch too and are doing a pretty amazing job of working with the system that is also new. 

Third, these apps will be open-sourced, so they aren't just an app, they will be a tool for third party devs to fork and build on NEM.  We are doing the hard part so that in the future others can get their specialized NEM app done for cheap. 

Additionally, during the course of making these apps, Apple upgraded to Swift 2, so then the iOS app was upgraded to this language.  This is a great thing because Swift 2 as a language will not just be used to make iOS apps, but also apps for the Mac app store. Likewise a Windows app store will enable porting of Android apps into Windows at some point.  While there is no plans to get these apps on the Mac app store or Windows app store at this time, that is a longer range possibility.  First we are just looking at getting them launched on iOS and Android. 

Fourth, due to the scope of these apps and the work involved building new apps for a new blockchain, we actually got a good deal.  There were many different professional app companies contacted and other estimates were a lot higher.  (In hindsight, had we taken the higher priced devs, we would already have the app by now, but that is how it goes.)

Lastly, the app costs just over 20k and is mostly paid off. 

[jabo38]

37k for a mobile app?  Well definitely want to see some real updates before I invest any further in NEM, this sounds a bit scammy and disappointing. I've red the White Paper and it was so beautifull, consistent and eloquent, but these kind of actions make me seriously doubt the intentions of the devs. Do they want to create a legimite worldwide economic blockchain platform, or do they just want to grab the money and gtfo?

Any big updates coming for NEM? When and what are they about?

There are things in the works.  If/when they are finalized, they will be announced.  The same quality of work that went into the white paper is going into other things.  Many platforms don't even have a good white paper.  I would actually like to see a single white paper written better than NEM's.  I have read A LOT and haven't see one yet. 

NEM devs haven't sold any of there XEM, if anything they actually own more.  Actually, most people involved in NEM already had good jobs and are professionals. 

Trolls on here keep on saying that things are dead or that people are cheating.  Things couldn't be further from the truth.  There is a lot of hard work being put into this platform.  For those that aren't sticking around, it is there loss. 

In the land of alts, platform after platform has oversold, over hyped, and just plain lied to the communities.  People are use to a Paycoin bar where some new thing comes in and promises the world.  Well, those are scams.  In the real world of real blockchains the real deals and real development is actually quite a task. We are taking a much more conservative approach.  The world will see the finished products to come when the curtain is pulled back and people can judge them then.  But let me mind you what has been done so far. 

- A new consensus mechanism called POI which is affected by an accounts stake and reputation in the economy.

- First ever P2P time sync of nodes. (great for security of the chain)

- First use of the Eigentrust++ as a security clustering algorithm so nodes can give reputation in to their neighbors in clusters, making it very difficult for a node to give false information consistently to the network. (great for security of the network)

- First use of remote (proxy mining) harvesting, where by another person’s node can be used to form blocks for your account. All done safely and that other node doesn’t ever get to see any of the fee rewards even though it was the one that pushed the block to the network. (great for security of the user)

- A new kind of transaction spam that. It targets the specific accounts doing the spamming and raises their transaction fees, while letting the global transaction fee rate stay low. (good for the chain)

- First blockchain with a multisig 2.0 protocol. NEM’s version of multisig doesn’t make new accounts for a multisig address, instead it takes an existing account and makes a contract over it with other accounts. This form of multi-user accounts can make any form of M of N with ease and can also can have the M or the N edited with ease as it is simply just updating the meta data of the blockchain based contract. This form of multisig also has block chain based notifications so transactions or updates of the M of N are pushed to the wallets as transactions to sign. (great security and ease of use for the user. simply the easiest and most flexible multisig in crypto)

- NEM also has many other features that it was not first, but are still important.
Messaging, which can be done unencrypted/encrypted/hex. (great for users and programmers)

- A token feature where accounts can hash data to receive a token for proof of existence.

- Any wallet may interact with any node on the network safely. (wow!)

- A large and fairly even distribution. (This ultimately leads to much better marketcap)

- Mosaics, the most advanced token creation feature in crypto allowing many advanced 2.0 features when creating personalized blockchain based tokens such as mutable, immutable, capped, not capped, divisible, not divisible, ability to be bagged with other tokens, levies, are already coded and someday more features like smart contracts inside of tokens and so on. (great for businesses)

- A long with this, NEM will also release its new naming service, Namespace, that should also be the most advanced and most integrated naming service of any blockchain. (great for reputation)

- We have our mobile apps which are in late stage of development and will be open sourced. This will allow third party devs to fork them and build their own applications on them.

- Soon to release Node Rewards.

- And........ EASY to use universal APIs. This means it is a great platform for businesses to build their applications on. Here is an example. The NEM faucet is actually a multisig distributed faucet, probably the first of its kind. It filters for addresses, amounts, frequency, and has things like daily limits. And since the operations of the faucet are split up across multiple separated nodes which only communicate via the blockchain, it makes it very hard to hack or steal from.  http://bob.nem.ninja/docs/ 
http://nem.io/ncc/index.html

[jabo38]

The problem is the project was dependent on popularity and usage via fair distribution, which didn't really do anything but create a bunch of sellers who were happy to sell their free stake for anything. You have anonymous developers who can't market their product because they are anonymous.  NEM offers new development and POI, but no one really seems to care.  It's a bummer cause I like the project, but right now I see BTC, ETH, and maybe a few others will survive the Alt coin bubble.  I have a lot of NEM, but I'm not sure I can even sell it at this point.

Anonymous?  Really?

You can listen to use using our real names and real voices here.  https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-247-understanding-the-new-economy-movement My real phone number is on the press releases.  Makoto has been in the newspapers in Japan weekly and regularly has his picture taken and speaks in front of people each week.  He just spoke at a major conference this week, and that was not anything new for him.  

[jabo38]

Jabo, what about new version of NIS/NCC/Mosaic ? Any progress, any ETAs ? I don't see any info nor here, nor on forum.nem.io ... thanks for any hope to our NEMsouls ;-)

Hi, Mixmaster has been the primary author and an in depth review and make over of a new NCC report.  He spent a few weeks with ideas and then discussing them with us.  Reverend has begun work on coding it.  Mixmaster has made A LOT of changes and given Rev quite a bit of work to do, luckily he is a skilled coder.  If we can get all of them done by the time mosaics/namespaces are released, I think people will be quite pleased.  I know I have always been ho hum about NCC and many other team members were too, but pretty much everything that I didn't like has been redone.  

[nembit86]

Hopefully readers of this thread will understand more and benefit from Jabo's very detailed reply to the recent critics. I hope new readers will join us, we are here for the long haul.......

[pgb]

this just in: The app costs around 20k and is almost entirely paid for already.

I would like to bring some clarity about the app.  Lots of information is being thrown around that is not accurate. 

First, there is not one app, there are two.  One is being written for Android and the other in iOS, so there are two teams, working in two languages for two different platforms and having to coordinate to make this a cross platform set of apps.   

Second, NEM is 100% new code.  If NEM was a Bitcoin clone, we could also clone some previously made Bitcoin app and rebrand it as our own.  That is not the case.  These apps are being written from scratch too and are doing a pretty amazing job of working with the system that is also new. 

Third, these apps will be open-sourced, so they aren't just an app, they will be a tool for third party devs to fork and build on NEM.  We are doing the hard part so that in the future others can get their specialized NEM app done for cheap. 

Additionally, during the course of making these apps, Apple upgraded to Swift 2, so then the iOS app was upgraded to this language.  This is a great thing because Swift 2 as a language will not just be used to make iOS apps, but also apps for the Mac app store. Likewise a Windows app store will enable porting of Android apps into Windows at some point.  While there is no plans to get these apps on the Mac app store or Windows app store at this time, that is a longer range possibility.  First we are just looking at getting them launched on iOS and Android. 

Fourth, due to the scope of these apps and the work involved building new apps for a new blockchain, we actually got a good deal.  There were many different professional app companies contacted and other estimates were a lot higher.  (In hindsight, had we taken the higher priced devs, we would already have the app by now, but that is how it goes.)

Lastly, the app costs just over 20k and is mostly paid off. 

Thanks a lot for clarifying things Jabo. You could say it louder but not clearer!! 

[Eadeqa]

Hopefully readers of this thread will understand more and benefit from Jabo's very detailed reply to the recent critics. I hope new readers will join us, we are here for the long haul.......

What is long haul? 50 years? The IPO was like in January 2014? In less than two months it would be 2 years. Where would nem be in next 2 years? Want to make a prediction or you going to just sit around for 50 years and chant long haul?