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

[GayOfThrones]

Do you thing the quite recently stolen NEM could have a role in such a big dump? Just to try to understand better the dynamics of what's happening.

[gentlemand]

Do you thing the quite recently stolen NEM could have a role in such a big dump? Just to try to understand better the dynamics of what's happening.

You bet. NEM has a fraction of the volume of other large projects. It can't take this selling pressure. Others would suffer too but not to that extent.

[cryptonit]

Things are pretty ugly with no signs on the horizon of improving. We've now given up 100% of the gains from Dec and Jan. And going the wrong way fast.

I know we were bitching about how stagnant things were between Aug to Nov, but were generally trending upward in that time. It seems now we're going straight into the shitter with no signs of slowing. That hack was the worst thing to have happened. Who knows if we'll ever see $2 again. If things don't reverse it'll be a long while, if ever. We're losing a ton of market share while tmc is going upward.
When the tmc was 250b we were 2x from where we are now. Now it's 450b and we're below .35 cents.
All the charts are pointing toward the toilet..
Hopefully things change for the better.

It wasn't the hack that did it - it was this incredibly dumbass idea of tainting coins and wallets.  Lon Wong is one stupid, arrogant, callous motherfucker basically.

so u bought on blackmarket stolen XEM and now u cant sell them.....

better do ur legwork before u buy some supercheap XEM on black market

dont be pissed about someone else if urself is the only one responsible for what u do

[kchulani]

Buy XEM responsibly. I love their project, their whole vision. I believe their scaling will be much more efficient moving forward into 2018 and 2019. Lets see what this year has in store for XEM

[Hyjinx]

Hahahahah and final FUD has started as i see from some of the above posts. It will be huge pain in these asses, when XEM after final dump and accumulation in area 10-30cents will build new cykle of bubble, like it did it before. So i am prepared now to accumulate cheap XEMs from this loosers (they have dumped with huge losses and they produce now their FUD on XEM). They will never understand that best time to buy is when the blood is on the street, and sell time is when growth of price is vertical. Please give here now more FUD, the cheaper XEM - the better.

Oh I'm holding just fine and will even double my stack at the right price.  I believe in the project in the long-term but that is no reason to excuse the complete incompetence of Lon Wong.  It is miserable that things are where they are with this project; nothing but bad management.  There is only "blood on the street" because Lon Wong is an idiot.

No one takes a newbie account seriously. Especially since your first 6 posts are NEM / Lon bashing.
Your points might very well be valid but why hide behind a sockpuppet account to make them ??

I honestly don't care if you take me seriously or not.  I've been interested in this project for a good long while and the bad management is very frustrating.  I don't have time to sit around and comment on speculative investments all day but Lon really pisses me off.  Just terrible management of this hack and the worst precedent you could set for a pre-mined coin.  Gives 0 confidence in the fungibility of NEM.  And no I didn't buy black market XEM - but even if I did it shouldn't be my problem.  Do people go to jail automatically if they somehow acquire "black market" dollars from a bank robbery where they had no involvement whatsoever?  The dump should have been allowed to play out instead of this half-assed intervention which accomplished absolutely nothing good and did way more damage than necessary.  Take Coincheck's problem and make it NEMs problem - not smart at all.

[Hyjinx]

NEM isn't done tanking yet.  Don't buy now.  I'm under water since last month as well.  Thought $0.55 was a fair price but didn't account for the incompetence of Lon Wong.  The guy is a disaster.

just to understand better...how do you know this? Can you tell us more about the incompetence of Lon Wong? what right now he's doing so wrong?
What price will be a good price to buy? When will the storm be over?

The dump isn't over because the exchange Huobi still hasn't allowed deposits yet - once they open there doors NEM isn't going to be $0.45 anymore over there.  If BTC takes off from here all alts are going to bleed anyway so then the people that are still holding XEM and have already taken a large hit are going to see that as a painful opportunity cost and dump some more.  If BTC corrects to 6K again then everything is going down hard.  Basically BTC has to sit still or creep up to give XEM any chance to recover and this would have to be a substantial period - not the style of BTC as of late.

Lon Wong made a terrible decision in tainting wallets and individual coins.  He basically demonstrated that XEM is not fungibile and the Foundation will intervene at any time in situations they do not consider ethical.  This is not their place because with a true currency people should be able to acquire it and dispose of it however they see fit - NEM Foundation isn't the proper authority to be governing this.  This is a law enforcement matter and while I would agree with NEM Foundation cooperating with an investigation they shouldn't try to be the law.  It gives the impression that if they don't agree with a project or business using XEM they could start throwing up roadblocks on those wallets and/or tokens that pass through them.  It is a slippery slope and anti-crypto in many ways.

Hard to say when it will be a good time to buy again because that depends a lot on the overall health of the market.  Given the Huobi situation most likely not now.  I would be looking around $0.25 - $0.28 and consider it there to cost average down my stack.  I would only start there though.  Depending on BTC the bottom could be something like $0.16 based on what XEM was doing in the Sept - Nov period of 2017.

[maco144]

By what technical means in the code and API were the coins and wallets able to be tainted? Just a few lines of codes or a setting? In my opinion it is really cool that NEM has this functionality even if the community thinks it is used incorrectly.

[fragout]

NEM isn't done tanking yet.  Don't buy now.  I'm under water since last month as well.  Thought $0.55 was a fair price but didn't account for the incompetence of Lon Wong.  The guy is a disaster.

just to understand better...how do you know this? Can you tell us more about the incompetence of Lon Wong? what right now he's doing so wrong?
What price will be a good price to buy? When will the storm be over?

The dump isn't over because the exchange Huobi still hasn't allowed deposits yet - once they open there doors NEM isn't going to be $0.45 anymore over there.  If BTC takes off from here all alts are going to bleed anyway so then the people that are still holding XEM and have already taken a large hit are going to see that as a painful opportunity cost and dump some more.  If BTC corrects to 6K again then everything is going down hard.  Basically BTC has to sit still or creep up to give XEM any chance to recover and this would have to be a substantial period - not the style of BTC as of late.

Lon Wong made a terrible decision in tainting wallets and individual coins.  He basically demonstrated that XEM is not fungibile and the Foundation will intervene at any time in situations they do not consider ethical.  This is not their place because with a true currency people should be able to acquire it and dispose of it however they see fit - NEM Foundation isn't the proper authority to be governing this.  This is a law enforcement matter and while I would agree with NEM Foundation cooperating with an investigation they shouldn't try to be the law.  It gives the impression that if they don't agree with a project or business using XEM they could start throwing up roadblocks on those wallets and/or tokens that pass through them.  It is a slippery slope and anti-crypto in many ways.

The coins were tainted because they were stolen. Its a bit of a leap to compare that to intervening in unethical situations or throwing up roadblocks on projects they don't agree with.  The tainted coins are obviously still being traded.
Its similar in my view to inking stolen cash from a bank.
Other coins have succumbed to pressure and forked after similar losses. I think they deserved at lot of praise for not going down this route. Sure the coin is going to lose value during this phase but we all knew that when the theft occurred and could have sold and bought back at the bottom.
No point in bitching after the fact

[tyz]

Do you thing the quite recently stolen NEM could have a role in such a big dump? Just to try to understand better the dynamics of what's happening.

Well just think about it. There has been stolen XEM that value $500 million. Trading volume of NEM is low traditionally compared to competitors like Eth for instance. If the hackers dump the coins gradually it has a big impact. I am sure the downtrend is mainly caused by the hack. When things cool down, NEM will rise again. I would bet on that.

[jztxeno]

By what technical means in the code and API were the coins and wallets able to be tainted? Just a few lines of codes or a setting? In my opinion it is really cool that NEM has this functionality even if the community thinks it is used incorrectly.

Mosaics (equivalent of ETH Tokens) were sent to the address with stolen funds so nothing really got tainted.

[Hyjinx]

NEM isn't done tanking yet.  Don't buy now.  I'm under water since last month as well.  Thought $0.55 was a fair price but didn't account for the incompetence of Lon Wong.  The guy is a disaster.

just to understand better...how do you know this? Can you tell us more about the incompetence of Lon Wong? what right now he's doing so wrong?
What price will be a good price to buy? When will the storm be over?

The dump isn't over because the exchange Huobi still hasn't allowed deposits yet - once they open there doors NEM isn't going to be $0.45 anymore over there.  If BTC takes off from here all alts are going to bleed anyway so then the people that are still holding XEM and have already taken a large hit are going to see that as a painful opportunity cost and dump some more.  If BTC corrects to 6K again then everything is going down hard.  Basically BTC has to sit still or creep up to give XEM any chance to recover and this would have to be a substantial period - not the style of BTC as of late.

Lon Wong made a terrible decision in tainting wallets and individual coins.  He basically demonstrated that XEM is not fungibile and the Foundation will intervene at any time in situations they do not consider ethical.  This is not their place because with a true currency people should be able to acquire it and dispose of it however they see fit - NEM Foundation isn't the proper authority to be governing this.  This is a law enforcement matter and while I would agree with NEM Foundation cooperating with an investigation they shouldn't try to be the law.  It gives the impression that if they don't agree with a project or business using XEM they could start throwing up roadblocks on those wallets and/or tokens that pass through them.  It is a slippery slope and anti-crypto in many ways.

The coins were tainted because they were stolen. Its a bit of a leap to compare that to intervening in unethical situations or throwing up roadblocks on projects they don't agree with.  The tainted coins are obviously still being traded.
Its similar in my view to inking stolen cash from a bank.
Other coins have succumbed to pressure and forked after similar losses. I think they deserved at lot of praise for not going down this route. Sure the coin is going to lose value during this phase but we all knew that when the theft occurred and could have sold and bought back at the bottom.
No point in bitching after the fact

Yes there is a point.  So every single time XEM gets stolen in a project that could last decades with a finite supply of coins there will be new tainted coins in circulation?  What kind of idiocy is that?  In theory 100% of the circulating supply could become tainted.  Who decides when to untaint and "you're legit."  See the problem?

[fragout]

NEM isn't done tanking yet.  Don't buy now.  I'm under water since last month as well.  Thought $0.55 was a fair price but didn't account for the incompetence of Lon Wong.  The guy is a disaster.

just to understand better...how do you know this? Can you tell us more about the incompetence of Lon Wong? what right now he's doing so wrong?
What price will be a good price to buy? When will the storm be over?

The dump isn't over because the exchange Huobi still hasn't allowed deposits yet - once they open there doors NEM isn't going to be $0.45 anymore over there.  If BTC takes off from here all alts are going to bleed anyway so then the people that are still holding XEM and have already taken a large hit are going to see that as a painful opportunity cost and dump some more.  If BTC corrects to 6K again then everything is going down hard.  Basically BTC has to sit still or creep up to give XEM any chance to recover and this would have to be a substantial period - not the style of BTC as of late.

Lon Wong made a terrible decision in tainting wallets and individual coins.  He basically demonstrated that XEM is not fungibile and the Foundation will intervene at any time in situations they do not consider ethical.  This is not their place because with a true currency people should be able to acquire it and dispose of it however they see fit - NEM Foundation isn't the proper authority to be governing this.  This is a law enforcement matter and while I would agree with NEM Foundation cooperating with an investigation they shouldn't try to be the law.  It gives the impression that if they don't agree with a project or business using XEM they could start throwing up roadblocks on those wallets and/or tokens that pass through them.  It is a slippery slope and anti-crypto in many ways.

The coins were tainted because they were stolen. Its a bit of a leap to compare that to intervening in unethical situations or throwing up roadblocks on projects they don't agree with.  The tainted coins are obviously still being traded.
Its similar in my view to inking stolen cash from a bank.
Other coins have succumbed to pressure and forked after similar losses. I think they deserved at lot of praise for not going down this route. Sure the coin is going to lose value during this phase but we all knew that when the theft occurred and could have sold and bought back at the bottom.
No point in bitching after the fact

Yes there is a point.  So every single time XEM gets stolen in a project that could last decades with a finite supply of coins there will be new tainted coins in circulation?  What kind of idiocy is that?  In theory 100% of the circulating supply could become tainted.  Who decides when to untaint and "you're legit."  See the problem?

That actually is a fair point that i had not considered. I guess the decision was rushed when the pressure came on to fork and wasn't thought through properly. In the end the tainting worked out to be relatively ineffective so i don't see a repeat.

[prettybuds]

I like to remember the times of NEMStake in 2014, it was such a nice beginning already

[ruletheworld]

NEM isn't done tanking yet.  Don't buy now.  I'm under water since last month as well.  Thought $0.55 was a fair price but didn't account for the incompetence of Lon Wong.  The guy is a disaster.

just to understand better...how do you know this? Can you tell us more about the incompetence of Lon Wong? what right now he's doing so wrong?
What price will be a good price to buy? When will the storm be over?

The dump isn't over because the exchange Huobi still hasn't allowed deposits yet - once they open there doors NEM isn't going to be $0.45 anymore over there.  If BTC takes off from here all alts are going to bleed anyway so then the people that are still holding XEM and have already taken a large hit are going to see that as a painful opportunity cost and dump some more.  If BTC corrects to 6K again then everything is going down hard.  Basically BTC has to sit still or creep up to give XEM any chance to recover and this would have to be a substantial period - not the style of BTC as of late.

Lon Wong made a terrible decision in tainting wallets and individual coins.  He basically demonstrated that XEM is not fungibile and the Foundation will intervene at any time in situations they do not consider ethical.  This is not their place because with a true currency people should be able to acquire it and dispose of it however they see fit - NEM Foundation isn't the proper authority to be governing this.  This is a law enforcement matter and while I would agree with NEM Foundation cooperating with an investigation they shouldn't try to be the law.  It gives the impression that if they don't agree with a project or business using XEM they could start throwing up roadblocks on those wallets and/or tokens that pass through them.  It is a slippery slope and anti-crypto in many ways.

The coins were tainted because they were stolen. Its a bit of a leap to compare that to intervening in unethical situations or throwing up roadblocks on projects they don't agree with.  The tainted coins are obviously still being traded.
Its similar in my view to inking stolen cash from a bank.
Other coins have succumbed to pressure and forked after similar losses. I think they deserved at lot of praise for not going down this route. Sure the coin is going to lose value during this phase but we all knew that when the theft occurred and could have sold and bought back at the bottom.
No point in bitching after the fact

Yes there is a point.  So every single time XEM gets stolen in a project that could last decades with a finite supply of coins there will be new tainted coins in circulation?  What kind of idiocy is that?  In theory 100% of the circulating supply could become tainted.  Who decides when to untaint and "you're legit."  See the problem?

That actually is a fair point that i had not considered. I guess the decision was rushed when the pressure came on to fork and wasn't thought through properly. In the end the tainting worked out to be relatively ineffective so i don't see a repeat.

Any tainting attempt is a one-shot attempt. If it proves to be unsuccessful, as it did in this case, then you can forget about it. End of the day, it is just an asset being created on the NEM blockchain and distributed to several addresses. By itself, without everyone agreeing to what it means, it means nothing really.

[yonton]

NEM went from being one of my best investments to worst in such a short period of time, it just keeps gushing blood.

[johnny5johnny5]

This wallet tainting issue to me is reminiscent of the Ethereum DAO hack. Same kind of FUD going on at that time for ETH and look at ETH now.

[pfrtlpfmpf]

 To me, it looks as if a bank gets robbed of millions of dollars, we discuss the worth of dollars ? !

Chill out, guys and girls !

[cryptonit]

To me, it looks as if a bank gets robbed of millions of dollars, we discuss the worth of dollars ? !

Chill out, guys and girls !

the scope is different
the theft that happend would be like USA england france amd germany got their national bank funds stolen the same time

that would have impact on worldwide economy too

but still no need to panic

after rain always follow sunshine

[Hyjinx]

To me, it looks as if a bank gets robbed of millions of dollars, we discuss the worth of dollars ? !

Chill out, guys and girls !

the scope is different
the theft that happend would be like USA england france amd germany got their national bank funds stolen the same time

that would have impact on worldwide economy too

but still no need to panic

after rain always follow sunshine

LOL, no.  What is going to happen now is BTC is going to start it's run once it gets through 11.8 K.  All Alts are going to get the shit beat out of them, including XEM which can't take much more.

[pfrtlpfmpf]

Which exchange lets me deposit bitcoin, buy XEM, and let me WITHDRAW them, they are all fucked up now, because of the hack-thing.
Which one is working ?

I can´t stand these prices, have to buy some more, but where ?
You weak hands sell into my strong hands, no plomblem.

Where ?