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

[nzminer]

So when is Catapult going to be released (for public). It's been over a year now. Before 4k tps seems a lot, but now you hear 1 million tps  i think NEM missed that boat. I'm still a believer, but having that hack is a sh***y PR that is not needed. We need catapult now. We hear NDA's are signed so no one can talk about what is being tested (i totally understand), Just curious to know how many company's signed NDA's, I want to know if there are actually a lot of companies trying out NEM Tech.   

I don't think it will matter one bit with the market the way it is right now.
With btc dragging everything down NEM could announce some major partnership and it wouldn't amount to anything because of the overall market being in the toilet.

Best to wait until things improve and hopefully they can capitalize on the rebound.

Yes the tide right now isn’t good. Endless regulatatory headlines.

Amazing how the government won’t provide healthcare, education, basic services-you’re on your own for that but suddenly they want to “protect” you in crypto.

I really don’t mind a selloff if it’s a healthy correction but my obvious worry is that after a pounding of this magnitude things may not recover for a long time (twice bitten etc etc). What does everyone think?

I think you might be right about the prices being depressed for a while, which I guess is depressing LOL. The problem with the last price spike may have been that it happened too quickly, and I hear about people mortgaging their properties and such to get in, which is always bad news, the classic signs of a bubble. When price goes up fast, it can fall just as quickly.

I'd like to see a recovery, and if you follow the NEM News telegram channel, for every bit of bad news, there's five or six good news items so NEM really is continuing to truck along, so I have no doubt a price recovery is in the future. I'd just like to see it happen more slowly. A nice, steady increase of one or two cents a day, with long periods of the price staying the same, would be perfect for me. That gives people lots of chances to buy in, and those who need to sell for any reason can count on getting a decent deal. That's what you want in a coin. Stability with a general trend upwards.

To really get there, I think we're going to need to see some XEM/fiat direct markets open up. As long as any coin has to go through Bitcoin, then it's going to be stuck rising and falling with Bitcoin, and that really stinks, to be honest.

Bitcoin may have been a bubble, but its only the noobs who start investing that get burnt.
Meanwhile alternatives to Bitcoin such as NEM have far greater potential and more room for growth than Bitcoin.
Biggest problem was Bitcoin was getting most of the media attention and when Bitcoin crashes, it brings everything else down with it.
Cryptocurrency and blockchain are gaining much more media attention in recent weeks which is good as we dont want everyone putting all their money into Bitcoin alone, its wise to diversify their investments.

[1714175504]

1714175504

[1714175504]

1714175504

[1714175504]

1714175504

[ruletheworld]

So when is Catapult going to be released (for public). It's been over a year now. Before 4k tps seems a lot, but now you hear 1 million tps  i think NEM missed that boat. I'm still a believer, but having that hack is a sh***y PR that is not needed. We need catapult now. We hear NDA's are signed so no one can talk about what is being tested (i totally understand), Just curious to know how many company's signed NDA's, I want to know if there are actually a lot of companies trying out NEM Tech.   

I don't think it will matter one bit with the market the way it is right now.
With btc dragging everything down NEM could announce some major partnership and it wouldn't amount to anything because of the overall market being in the toilet.

Best to wait until things improve and hopefully they can capitalize on the rebound.

Yes the tide right now isn’t good. Endless regulatatory headlines.

Amazing how the government won’t provide healthcare, education, basic services-you’re on your own for that but suddenly they want to “protect” you in crypto.

I really don’t mind a selloff if it’s a healthy correction but my obvious worry is that after a pounding of this magnitude things may not recover for a long time (twice bitten etc etc). What does everyone think?

I think you might be right about the prices being depressed for a while, which I guess is depressing LOL. The problem with the last price spike may have been that it happened too quickly, and I hear about people mortgaging their properties and such to get in, which is always bad news, the classic signs of a bubble. When price goes up fast, it can fall just as quickly.

I'd like to see a recovery, and if you follow the NEM News telegram channel, for every bit of bad news, there's five or six good news items so NEM really is continuing to truck along, so I have no doubt a price recovery is in the future. I'd just like to see it happen more slowly. A nice, steady increase of one or two cents a day, with long periods of the price staying the same, would be perfect for me. That gives people lots of chances to buy in, and those who need to sell for any reason can count on getting a decent deal. That's what you want in a coin. Stability with a general trend upwards.

To really get there, I think we're going to need to see some XEM/fiat direct markets open up. As long as any coin has to go through Bitcoin, then it's going to be stuck rising and falling with Bitcoin, and that really stinks, to be honest.

The problem though is crypto is inherently going to be very volatile no matter how you cut it. Sure, it would be nice to see 1-2 cent growth a day for a while, but that's just not how things work.

Especially a coin like NEM, which has a limited supply without new coins being created, the price is driven purely by demand and supply, i.e. if the price increases, there is no way to somehow go and 'get more NEM' which would curb the enthusiasm. This means it is pure animal spirits in either direction, up and down.

The other thing is, the fortunes of NEM and other cryptos are pretty correlated with each other. This means things happening outside of the NEM ecosystem can have a significant effect on the price.

[bitofc]

Japan’s First Online Bank Tests Blockchain Technology with mijin and Hyperledger



Source: http://mijin.io/en/1370.html

[fragout]

I believe that catapult is not far away

If Catapult was ready tomorrow, they should hold it back. This would be the worst possible time to release it and would be a non-event. The fact is if bitcoin doesn't mount a recovery (over 10k would do), the whole crypto scene will be in the doghouse for another year at least.

[gentlemand]

If Catapult was ready tomorrow, they should hold it back. This would be the worst possible time to release it and would be a non-event. The fact is if bitcoin doesn't mount a recovery (over 10k would do), the whole crypto scene will be in the doghouse for another year at least.

There's no way they'd hold it off for months purely to excite traders. That's never been how they drop things. It'll happen when it's ready and not before or after.

[MoneyJ]

NEM wallet on bittrex is not functioning. I have tried to withdraw my XEM to my wallet and it is still on maintenance status. What is the problem with NEM or bittrex? Hopefully it will resume operation as soon as possible.

[Flodner]

It would be good if anybody can share here your harvesting experience. 10 000 XEM is needed (minimum) for the harvesting process, and now when XEM fell in price as all crypto - investing this or bigger amount can be good investment.
While supernode (3 mln XEM is needed) is very hard to afford.

[gentlemand]

It would be good if anybody can share here your harvesting experience. 10 000 XEM is needed (minimum) for the harvesting process, and now when XEM fell in price as all crypto - investing this or bigger amount can be good investment.
While supernode (3 mln XEM is needed) is very hard to afford.

It's totally hit and miss. You might get a few hundred on your first block or nothing for months. I wouldn't bother buying 10,000 with the expectation of making thousands more. It's a bonus for already holding coins, not the primary reason to buy them.

[onionpealer]

NEM wallet on bittrex is not functioning. I have tried to withdraw my XEM to my wallet and it is still on maintenance status. What is the problem with NEM or bittrex? Hopefully it will resume operation as soon as possible.

I wouldn't worry about it, Bittrex, and all other exchanges, will occasionally put a wallet into 'maintenance', usually if there is an update to be done to the wallet.

[Soloha]

It would be good if anybody can share here your harvesting experience. 10 000 XEM is needed (minimum) for the harvesting process, and now when XEM fell in price as all crypto - investing this or bigger amount can be good investment.
While supernode (3 mln XEM is needed) is very hard to afford.

per month....
Vested balance - 0 .... 30500 XEM
Harvested blocks - 2
Fees earned - 1,05 XEM

[nemwanderer]

If Catapult was ready tomorrow, they should hold it back. This would be the worst possible time to release it and would be a non-event. The fact is if bitcoin doesn't mount a recovery (over 10k would do), the whole crypto scene will be in the doghouse for another year at least.

There's no way they'd hold it off for months purely to excite traders. That's never been how they drop things. It'll happen when it's ready and not before or after.

Soon would be nice.

Though it may not matter, this selloff seems so endless that even if the market stabilizes (which it probably will eventually) it will enter a deep funk perhaps for years. Damn shame really.

I suppose your original advice to look to 2020 is our small consolation.

[nzminer]

If Catapult was ready tomorrow, they should hold it back. This would be the worst possible time to release it and would be a non-event. The fact is if bitcoin doesn't mount a recovery (over 10k would do), the whole crypto scene will be in the doghouse for another year at least.

There's no way they'd hold it off for months purely to excite traders. That's never been how they drop things. It'll happen when it's ready and not before or after.

I agree, besides if catapult gets released in the middle of this bear market it will show that NEM has serious fundamentals and will give us an early boost before the bulls get going again.

[gentlemand]

https://asia.nikkei.com/amp/Spotlight/Bitcoin-evolution/North-Korea-suspected-in-Coincheck-cryptocurrency-heist

The DPRK is now a possibility for the coincheck hack. Hmm. I wonder if that makes a ransom payment more or less likely.

[Alohaboy?!]

It would be good if anybody can share here your harvesting experience. 10 000 XEM is needed (minimum) for the harvesting process, and now when XEM fell in price as all crypto - investing this or bigger amount can be good investment.
While supernode (3 mln XEM is needed) is very hard to afford.

per month....
Vested balance - 0 .... 30500 XEM
Harvested blocks - 2
Fees earned - 1,05 XEM

It might be not the most profitable thing right now. But I think you will be quite happy with your rewards in one year from now

[ruletheworld]

If Catapult was ready tomorrow, they should hold it back. This would be the worst possible time to release it and would be a non-event. The fact is if bitcoin doesn't mount a recovery (over 10k would do), the whole crypto scene will be in the doghouse for another year at least.

There's no way they'd hold it off for months purely to excite traders. That's never been how they drop things. It'll happen when it's ready and not before or after.

I agree, besides if catapult gets released in the middle of this bear market it will show that NEM has serious fundamentals and will give us an early boost before the bulls get going again.

That would definitely be interesting to watch. There isn't a fixed date for Catapult's release yet is there?

[neoscorpius]

And more than 90 percent of all coins are very dependent on the bitcoin rate. This coin is also not an exception to the rules. And in general, the coin is not bad.

This state of affairs already really worries everyone. No one knows what can be done about it. How to relieve the total dependence of all altcoins on bitcoin?

[Jenska]

I sent xem to Huobi yesterday and got nothing.
Their support said:

google translated message:

Due to an official announcement by NEM.io Foundation Ltd, the missing XEM from Japanese trading platform Coincheck was tracked and marked. NEM's blockchain network will be affected before processing is complete. To protect the user's assets, we immediately suspend the XEM recharge, to be restored after the official NEM official recharge. At the same time XEM's bills are not affected.

Original message:
由于NEM.io Foundation Ltd官方发出公告，对日本交易平台Coincheck丢失的XEM进行追踪和标记。在处理完成之前，NEM的区块链网络会受到影响。为保护用户资产，我们即刻起暂停XEM的充值，待NEM官方处理完后恢复充币。同时XEM的提币不受影响。

What should i do now? Just wait but how long?
Xem price is going down, I wanted to trade it for usdt yesterday, but now my wallet is frozen

Try Polo or other exchanges. Hopefully you find a way to panic sell and give others cheap XEM´s.

You probably bought in at 1-2$ rate?

[abaumgar]

And more than 90 percent of all coins are very dependent on the bitcoin rate. This coin is also not an exception to the rules. And in general, the coin is not bad.

This state of affairs already really worries everyone. No one knows what can be done about it. How to relieve the total dependence of all altcoins on bitcoin?

It's similar to the stock market when the bears take over. Whenever the crypto-bears take over nearly every coin will drop.
Besides that a correction was really overdue given the insane rise within the last few months.

Furthermore, I guess in a few years bitcoin won't be the number one anymore (maybe ethereum, or NEM  ) but this will not change the bull/bear effect.

[DenisZabar]

I sent xem to Huobi yesterday and got nothing.
Their support said:

google translated message:

Due to an official announcement by NEM.io Foundation Ltd, the missing XEM from Japanese trading platform Coincheck was tracked and marked. NEM's blockchain network will be affected before processing is complete. To protect the user's assets, we immediately suspend the XEM recharge, to be restored after the official NEM official recharge. At the same time XEM's bills are not affected.

Original message:
由于NEM.io Foundation Ltd官方发出公告，对日本交易平台Coincheck丢失的XEM进行追踪和标记。在处理完成之前，NEM的区块链网络会受到影响。为保护用户资产，我们即刻起暂停XEM的充值，待NEM官方处理完后恢复充币。同时XEM的提币不受影响。

What should i do now? Just wait but how long?
Xem price is going down, I wanted to trade it for usdt yesterday, but now my wallet is frozen

Try Polo or other exchanges. Hopefully you find a way to panic sell and give others cheap XEM´s.

You probably bought in at 1-2$ rate?

XEM is currently under maintenance or experiencing wallet/network issues. Deposits and withdrawals will remain disabled until a solution is found, which may require an update from the XEM team. Any updates must be tested and audited before enabling.

Message on poloniex.

[gimre]

Total transactions per second:
    Visa: 24,000
    Ripple (CCC: XRP-USD): 1,500
    PayPal: 193
    Bitcoin Cash (CCC: BCH-USD): 60
    Litecoin (CCC: LTC-USD): 56
    Dash (CCC: DASH-USD): 48
    Ethereum (CCC: ETH-USD): 20
    Bitcoin (CCC: BTC-USD): 7



https://steemit.com/cryptocurrency/@steemhoops99/transaction-speed-bitcoin-visa-iota-paypal
VISA can handle on average around 1,700 transactions per second (tps), call it a daily peak rate of 4,000 tps.
PayPal, in contrast, handled around 10 million transactions per day for an average of 115 tps in late 2014.
Today the Bitcoin network is restricted to a sustained rate of 7 tps due
Iota can already handle between 500-800 tps.
Ethereum – 20 transactions per second (Cost= 0.01-0.1 USD+)



Only of those above, which itself advertises its speed is VISA
https://en.wikipedia.org/wiki/Visa_Inc.
can handle up to 30,000 simultaneous transactions and up to 100 billion computations every second


Is this the raw truth?
If it is, that makes two things true.
Crypto currencies are too slow for real world usage. And therefore LemonAndFries had it right:NEM is an experimental.

Now time for some fun facts that wikipedia won't tell you:

• a) in case of any problems visa is pushing responsibility onto the banks
• b) guess what, banks will push responsibility on you
• c) they can achieve such speed, mostly cause they don't friggin care about double spends, why?
  glad you ask, well see a) and b)
• d) if your card will get cloned and used in some other country - guess what you'll be charged, getting money back often takes few months... (mind cloned not stolen, in case of stealing, chargeback to the rescue)
• e) there are many POSes, that do not require chip-based authorization
• f) even worse, there are places, that do not require your PIN when using magnetic stripe - only your signature - you might be lucky if someone will use your stolen card in this way, cause in this case banks often shift responsibility onto seller, and he'll have to cover for his loss
• g) banks have limits on the losses they cover, so i) they will not cover if there was not enough funds stolen ii) usually there's some upper limit as well (although it'd be highly unlikely to get past it - i.e. you shouldn't keep that much money on account associated with your credit/debit card)) in EU it's several thousand of euros

So yeah, Heil VISA and let the banks live and prosper ❤️