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

[pgb]

The price of namespace is really terrible. 50K is not 30 dollars.
If I buy now, and one day 1 XEM = 1 euro , I will have to live with the thought that I spent 50K euros, or 500K, if one XEM is 100, then I spent 5 Million euros.  

At the time of namespace being introduced, XEM's price was just a fraction of what it is now ... I'm sure in future releases, they will adjust price maybe to dollars or YEN or something like that.

In order to avoid squatters with hundreds of namespaces a price in the range of 10-30$ is more than fair and will be quite effective. Price could always be adjusted but a extremely cheap priceat launch would ruin everything. I remember well what happened with NXT, within few minutes after the launch of their domains (can't remember how they were called) there were hundreds already taken cause it was almost free, so why wouldn't you?. I took 2 (treasury and hillaryclinton) just for fun not planing to do anything with them, effectively squatting.  

BTW name should have been NEMspaces

[1713503382]

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[ElitistCA]

Sure, I get you guys, NXT alias system was fail, I personally own about 600 NXT aliasis.
ProbLem is it is sold in XEM, so more succesful NEM will be the worse deal it is. You can sell it for 30K dollars in 5 years,
but It will not give you 50K XEM again.

I hope I will be able to buy it for something else.

[nzminer]

The price of namespace is really terrible. 50K is not 30 dollars.
If I buy now, and one day 1 XEM = 1 euro , I will have to live with the thought that I spent 50K euros, or 500K, if one XEM is 100, then I spent 5 Million euros. 

No one can guarantee 1 XEM will be 100 EUR, 10 EUR, 1 EUR or even 1 EURO Cent. And if so, it will take a very long time.

What do you class as a long time fir interest?
If you call 5 to 10 years a long time, then im happy! 

Remember that BTC reached $6 billion market cap in less than 5 years.

No reason why NEM cant do that in the same amount of time if we become more successful than BTC.

And i feel that BTC will not be the kingmaker then either...

[cyberhacker]

i saw somebody is asking this:

"sorry. I am confused.

if mosaic is going to create customized assets.

then what will ppl do with mosaic assets? any built-in exchange to help buy/sell or distribute them? like nxt or bts did in their system?"

[novaspyder]

I invested in NEM back at the creation, but have never claimed my share, and still have my secret token. How can I redeem my NEM?

[rockethead]

I invested in NEM back at the creation, but have never claimed my share, and still have my secret token. How can I redeem my NEM?

You basically lost it as it expired close to one year ago.

[rockethead]

i saw somebody is asking this:

"sorry. I am confused.

if mosaic is going to create customized assets.

then what will ppl do with mosaic assets? any built-in exchange to help buy/sell or distribute them? like nxt or bts did in their system?"

It is a token. You can do a lot with a token. Like ticketing, loyalty points etc

You can request your token to be traded in an exchange.

AE has taken a back seat. In any case there is too much scam in an AE and thus should be avoided.

[martismartis]

i saw somebody is asking this:

"sorry. I am confused.

if mosaic is going to create customized assets.

then what will ppl do with mosaic assets? any built-in exchange to help buy/sell or distribute them? like nxt or bts did in their system?"

It is a token. You can do a lot with a token. Like ticketing, loyalty points etc

You can request your token to be traded in an exchange.

AE has taken a back seat. In any case there is too much scam in an AE and thus should be avoided.

How scam is prevented in mosaics? How are mosaics different from nxt assets in scam point of view? Both are decentralized systems and scammers can do what they want with them. Correct me if I'm wrong, but i'm not seeing big difference.

[cyberhacker]

i saw somebody is asking this:

"sorry. I am confused.

if mosaic is going to create customized assets.

then what will ppl do with mosaic assets? any built-in exchange to help buy/sell or distribute them? like nxt or bts did in their system?"

It is a token. You can do a lot with a token. Like ticketing, loyalty points etc

You can request your token to be traded in an exchange.

AE has taken a back seat. In any case there is too much scam in an AE and thus should be avoided.

How scam is prevented in mosaics? How are mosaics different from nxt assets in scam point of view? Both are decentralized systems and scammers can do what they want with them. Correct me if I'm wrong, but i'm not seeing big difference.

from my understanding. 

Mosaic will function as Asset Issuance.

and Cryptoapex is a centralized exchange allowing assets listing, which will be somehow scrutinized by third party.

don't know if i am right or wrong.

[patmast3r]

i saw somebody is asking this:

"sorry. I am confused.

if mosaic is going to create customized assets.

then what will ppl do with mosaic assets? any built-in exchange to help buy/sell or distribute them? like nxt or bts did in their system?"

It is a token. You can do a lot with a token. Like ticketing, loyalty points etc

You can request your token to be traded in an exchange.

AE has taken a back seat. In any case there is too much scam in an AE and thus should be avoided.

How scam is prevented in mosaics? How are mosaics different from nxt assets in scam point of view? Both are decentralized systems and scammers can do what they want with them. Correct me if I'm wrong, but i'm not seeing big difference.

Scaming is harder because there is no marketplace. No buy/sell-orders. Which imho has more downsides than upsides but I'd rather see it implemented in an improved manner later than right now and it's just the same as in NXT and all the other AEs that are basically copies of NXTs.

Even if there was a marketplace scaming would be harder because of namespaces. They are unique. So no more NEMStake with the id 1241254215151 and then another NEMStake with the id 5436262467427247. Noone reads those ids (as proven by all the people that got scamed with that one) and they shouldn't have to.
Once you're established as a trustworthy person you have a well known namespace.

Let's stick with a NXT example.

James could have jl777 as a namespace. 90% of people would trust all assets that belong to that namespace with their life.
There could be jl777.projects:supernet, jl777.projects:pangea and what not.
Noone would be able to scam anyone with similar assets like jl7777.projects:pangea because people can see that the namespace-paths aren't the same (and they can without looking up some id that noone can remember). I mean you can still have a bad day and not see that 4th 7 but it's imho still a big improvement over having to look-up ids because you can't trust the name anyway.

I'm sure NXTs AE has improved a lot since i last checked it out so I'm not trying to trash it. Just taking it as a reference as it's prob the most well known one.

[patmast3r]

The price of namespace is really terrible. 50K is not 30 dollars.
If I buy now, and one day 1 XEM = 1 euro , I will have to live with the thought that I spent 50K euros, or 500K, if one XEM is 100, then I spent 5 Million euros. 

That argument doesn't make any sense. Ask the guy that bought that pizza with bitcoins. If you don't wanna risk it then don't buy a namespace. Also you didn't pay 1 EUR per XEM for the XEMs you payed for that namespace with right ? So you didn't pay 50k EUR.

[martismartis]

i saw somebody is asking this:

"sorry. I am confused.

if mosaic is going to create customized assets.

then what will ppl do with mosaic assets? any built-in exchange to help buy/sell or distribute them? like nxt or bts did in their system?"

It is a token. You can do a lot with a token. Like ticketing, loyalty points etc

You can request your token to be traded in an exchange.

AE has taken a back seat. In any case there is too much scam in an AE and thus should be avoided.

How scam is prevented in mosaics? How are mosaics different from nxt assets in scam point of view? Both are decentralized systems and scammers can do what they want with them. Correct me if I'm wrong, but i'm not seeing big difference.

Scaming is harder because there is no marketplace. No buy/sell-orders. Which imho has more downsides than upsides but I'd rather see it implemented in an improved manner later than right now and it's just the same as in NXT and all the other AEs that are basically copies of NXTs.

Even if there was a marketplace scaming would be harder because of namespaces. They are unique. So no more NEMStake with the id 1241254215151 and then another NEMStake with the id 5436262467427247. Noone reads those ids (as proven by all the people that got scamed with that one) and they shouldn't have to.
Once you're established as a trustworthy person you have a well known namespace.

Let's stick with a NXT example.

James could have jl777 as a namespace. 90% of people would trust all assets that belong to that namespace with their life.
There could be jl777.projects:supernet, jl777.projects:pangea and what not.
Noone would be able to scam anyone with similar assets like jl7777.projects:pangea because people can see that the namespace-paths aren't the same (and they can without looking up some id that noone can remember). I mean you can still have a bad day and not see that 4th 7 but it's imho still a big improvement over having to look-up ids because you can't trust the name anyway.

I'm sure NXTs AE has improved a lot since i last checked it out so I'm not trying to trash it. Just taking it as a reference as it's prob the most well known one.

Well, I must to agree with you, regarding unique namespaces, that eliminates some part of scamming, but scamming with projects behind the namespaces remains. This is decentralized environment and it's impossible to eliminate scammers completely. Due diligence remains for all users, who plan to use decentralized mosaics (assets) exchange. I just do not agree with Rockethead, that AE have too much scam and should be avoided:) If you don't due diligence and are lazy, you are scammed (fu..cked) everywhere (banks, mobile phone providers, etc.)

[Xpedite]

Well, I must to agree with you, regarding unique namespaces, that eliminates some part of scamming, but scamming with projects behind the namespaces remains. This is decentralized environment and it's impossible to eliminate scammers completely. Due diligence remains for all users, who plan to use decentralized mosaics (assets) exchange. I just do not agree with Rockethead, that AE have too much scam and should be avoided:) If you don't due diligence and are lazy, you are scammed (fu..cked) everywhere (banks, mobile phone providers, etc.)

It's true that scamming can never be eliminated, but it takes a lot less effort if there is an AE.

Without AE , there are two scnearios:

• You convince an existing exchange to start trading your asset (mosaic).
• You build your own system that makes use of the assets.

To give an example of the second scenario. Imagine paypal would issue their own mosaic and dealt with everything on the back end for the user. Paypal could decide on how decentralised the application would be. It could be fully decentralised and they only act as an exchange or they could say they're in full control similar to what they do now. Even if they still have control over everything, it would be transparent because everyone can use a block explorer and see what's happening. 
Since NEM is targeting legitimate businesses there is just not much need for an AE at this time. That's why it's not a priority for the devs at this time I suppose. But this doesn't mean it will never come.

Although I understand that for some people it seems that mosaics are useless if you don't have an asset exchange, they are not for players that wouldn't use an AE in the first place. I don't think that established companies would be interested in trading their mosaics on an asset exchange because it would be of no benefit to them.

[jabo38]

Thank you to everyone that has filled out the form.  I am still collecting information about people wanting to be a part of NEM. 

Please take a minute to fill this out.

https://docs.google.com/forms/d/1RWdE187ngIsRKoHo5ZQ6LPs0LNv8o65fIpATLx2gXgY/viewform

[tolikkk]

How are projects being developed on the private chain going to influence the value (and then price) of XEM? Could somebody elaborate on this? How are the two chains linked and is there an immediate way in which value added to private chain will translate to value added to XEM?

THX! After having been very harsh on this project, I must say I'm impressed with the behind the scenes work towards real world integration - I am forced to reconsider my previous position. Congratulations to the team so far.

same question here.

but it applys to ripple as well.

I've only been here a few days and am no authority on anything XEM

However I remember something about smart contracts (once implemented) traversing the private mijin chain and the public NEM chain.
There is more generally the cross-pollination of development between the networks, and their potential synergy. Where necessary or suitable the private and public chains may communicate.

This is my understanding.
Please correct me if wrong.

Sounds pretty accurate to me.
There's also the thing that mijin isn't going to be free. So any company that can live with the downsides of a public blockchain can have mijin for free by simply using NEM. The APIs are 100% identical so if they tested mijin (i understand there are a bunch of trials running right now, i think i saw the number 50 a few pages back) they can resue all their previous code.

Cool, thanks for the confirm

Here, I found the reference:

Also, within 2016, it is planned to be able to execute smart contracts across Mijin blockchains, by communicating via the main NEM chain.

http://mijin.io/en/73.html

SO NEM is literally at the heart of it, I guess

Yes the waiting needless to say, when the whole bitcoin industry is stalling out of fear to look into the eyes of such progress is very impressive the ability to execute smart contracts in the NEM is not only paramount, but also shows the world community that is at the forefront of technology, the blockchain, reducing commissions and well thought-out security will give Nem the acceleration that will be required for the conversion of Nem in the brand new, self-sufficient and interesting

[rockethead]

Well, I must to agree with you, regarding unique namespaces, that eliminates some part of scamming, but scamming with projects behind the namespaces remains. This is decentralized environment and it's impossible to eliminate scammers completely. Due diligence remains for all users, who plan to use decentralized mosaics (assets) exchange. I just do not agree with Rockethead, that AE have too much scam and should be avoided:) If you don't due diligence and are lazy, you are scammed (fu..cked) everywhere (banks, mobile phone providers, etc.)

It's true that scamming can never be eliminated, but it takes a lot less effort if there is an AE.

Without AE , there are two scnearios:

• You convince an existing exchange to start trading your asset (mosaic).
• You build your own system that makes use of the assets.

To give an example of the second scenario. Imagine paypal would issue their own mosaic and dealt with everything on the back end for the user. Paypal could decide on how decentralised the application would be. It could be fully decentralised and they only act as an exchange or they could say they're in full control similar to what they do now. Even if they still have control over everything, it would be transparent because everyone can use a block explorer and see what's happening. 
Since NEM is targeting legitimate businesses there is just not much need for an AE at this time. That's why it's not a priority for the devs at this time I suppose. But this doesn't mean it will never come.

Although I understand that for some people it seems that mosaics are useless if you don't have an asset exchange, they are not for players that wouldn't use an AE in the first place. I don't think that established companies would be interested in trading their mosaics on an asset exchange because it would be of no benefit to them.

This is how I see it, and it is my personal opinion. Having an AE is a crypto playground. More likely it is a small play. NEM is positioned for both the mainstream and the crypto world. There is enough ecosystem support in the crypto world, example, exchanges, wallet creation, etc. On its own, it may not be able to compare with the features of Nxt, but I must say, NXT is also a development mess, having features that are at times, not connected.

In short, NEM is adopting the blue ocean approach. Do something for the crypto world and have enough features that will appeal to the mainstream to grow that side of the user base. Then at the same time, develop an improved version of NEM by porting the utilities of mainstream features into NEM. Hence it is more a mainstream driven project.

The approach is very different from many other projects. So, what others have, may not be a priority of NEM. What is more important now is what other mainstream players are developing using Bitcoin, ethereum, or something else, which NEM needs to compete and upstage against. And the strategy appears to be working fine, at least for now.

For example, NEM does not need an XCP as it is one itself to a certain extent. It does not need a coinbase as it has all the goodness in itself. It has other features that Bitcoin is far behind in, like the multisig. As people are developing over and above a typical crypto, we are incorporating features into the crypto, which gives it much more power and performance. That will eventually set us apart in the mainstream. The spill over will be into NEM itself as a crypto initiative within the crypto world.

[Porsche911]

What is the amount of NEM coins to harvest 0,001 percent rigth now?
I want to get important to the NEM Cloud 

Thanks a lot in advance.

[greentea]

Article on ZDnet japan talking about Namespaces & Lightwallet:
http://japan.zdnet.com/article/35077470/

[Porsche911]

Japan is going big

I have another question regarding my wallet harvest. After the first time I get NEM's on it. Does it take a day to start getting into the harvest account or should i be instantly in?

And: What is the amount of NEM coins to harvest any percent right now?
I want to get important to the NEM Cloud.

Thanks a lot in advance.

[greentea]

Japan is going big

I have another question regarding my wallet harvest. After the first time I get NEM's on it. Does it take a day to start getting into the harvest account or should i be instantly in?

And: What is the amount of NEM coins to harvest any percent right now?
I want to get important to the NEM Cloud.

Thanks a lot in advance.

This should help, you need at least 10,000xem to begin harvesting, the XEM has to be fully vested:
http://blog.nem.io/how-local-and-delegated-harvesting-works/

Note: Every 1440 blocks 1/10th of the unvested balance is moved to the vested part.