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

[gentlemand]

If the Dev hadn't called up the foundation in that post, the old members of the foundation would have carried on as they were and things would have been a lot worse.  In my opinion it was a positive thing and a change of foundation is what was needed.  Drastic changes now have to be made to make the foundation more streamlined and future proof.  Short term pain for long term growth.

It's definitely positive long term. Shame it had to come to that though and there'll be more short term shit sandwich to eat.

[1714167117]

1714167117

[1714167117]

1714167117

[lemonandfriesonetwo]

Get rid of the foundation, crowdfund a marketing team and help the developers still on board.

It's obvious the foundation is just a low effort scam grab cash.

[rendravolt]

If the Dev hadn't called up the foundation in that post, the old members of the foundation would have carried on as they were and things would have been a lot worse.  In my opinion it was a positive thing and a change of foundation is what was needed.  Drastic changes now have to be made to make the foundation more streamlined and future proof.  Short term pain for long term growth.

It's definitely positive long term. Shame it had to come to that though and there'll be more short term shit sandwich to eat.

Indeed, in fact everything will be on the long-term path and very minimal possibility for a profitable short term, especially with the situation in almost all altcoins like today.

[lemonandfriesonetwo]

Why the foundation doesn't come on bitcointalk and explain this?

They just pushed this idiotic idea of a "foundation" onto us without consulting those of us who started with NEM.

If foundation doesn't want to leave, then let's show them what can be done. A doxxing would be in line, until they relinquish power to the developers. The developers are the real shot callers here, not some business major with 2 years of experience running fast food restaurants.

/End rant

[fragout]

The newly elected president of the NEM Foundation, Alex Tinsman, told CoinDesk Wednesday the Singapore-based NEM Foundation now intends to submit a funding request to the NEM community fund for 160 million tokens (worth roughly $7.5 million), money that would be used to rescue the organization.

It will be different this time i'm sure

[nutildah]

Falling from 80 cents to 5 cents isn't "almost the same" regardless of how you spin it.

It fucking crashed. Not that the underlying tech isn't great and there isn't tremendous room for growth, it is, and there is. However, NEM, like most coins, was way too high one year ago, and came crashing down with every single other coin.

Suddenly today crashed even more!
What to do now? Panic buy or panic sell?! 

Well, let's admit it: competition in the crypto space is brutal. Without any real catalysts to encourage broad speculation in the marketplace, NEM (like anything else) will have to depend on increases in real-world adoption to gain any positive traction. However, if and when another strong bull market manifests itself, then it will likely be one of the prime recipients of a capital injection.

Basically I don't know and your guess is as good as anybody's.

[satb]

Get rid of the foundation, crowdfund a marketing team and help the developers still on board.

It's obvious the foundation is just a low effort scam grab cash.

That is an option as an alternative to funding the foundation with the community fund.

[lemonandfriesonetwo]

Get rid of the foundation, crowdfund a marketing team and help the developers still on board.

It's obvious the foundation is just a low effort scam grab cash.

That is an option as an alternative to funding the foundation with the community fund.

Yes, let's reward the hard working developers and get rid of these "managers".

It's obvious the foundation is just there for the $$$. Disband it, use the funds for developers and an independent marketing team that the community manages and votes on.

Remember: It's "NEM - New Economy Movement", not "NEM - Let's run it like a cheap restaurant"

[freigeist]

If the Dev hadn't called up the foundation in that post, the old members of the foundation would have carried on as they were and things would have been a lot worse.  In my opinion it was a positive thing and a change of foundation is what was needed.  Drastic changes now have to be made to make the foundation more streamlined and future proof.  Short term pain for long term growth.

That is true.
But if developers had issues with the foundation they should had called up earlier
that would cause more pressure from holders earlier to resolve the issues.

I think that is also our fault we didn't pressure them more to release
info ON OFFICIAL FORUM and to be accountable

There were some news releases here and there ever other communication channels
which gave the impression that something was happening but there was not
clear transparency about the spending of the funds.

I hope this new elected foundation will change that.
I also advise developer not to be silent and share the problem they have with the community.

[lemonandfriesonetwo]

Call it for what it is:
We have been scammed.
Get rid of the foundation.
Reward the developers and hire a marketing team.
Foundation is just a black hole for $$$.

NEMSecretariatOffice: "...We saw very little accountability for funds and questionable ROI, leading to a burn rate of 9 million XEM per month."

[jkoil]

Call it for what it is:
We have been scammed.
Get rid of the foundation.
Reward the developers and hire a marketing team.
Foundation is just a black hole for $$$.

NEMSecretariatOffice: "...We saw very little accountability for funds and questionable ROI, leading to a burn rate of 9 million XEM per month."

Maybe true, maybe not.
It is true that honey entices bees and other insects.
Among of them exist, sometimes, individuals who are more concerned about their personal benefits than the community.
That has been seen in many big, international companies.

If the NEM Foundation has been on the wrong rails, it is quite quickly corrected - it is much easier than turning big ships.

[satb]

This is the post-V1fund which is one of many funds:

http://chain.nem.ninja/#/search/NDEVPOSK4OMR4PRTLYFHX4W5QTOND7TZDT2DTU4Q

There's enough XEM in there to last much much longer than a month, and it's not the only fund.  It appears that this is more of a liquidity issue than a lack of funds.

There's ~ 3 billion XEM spread out over the various funds. 

https://nemnodes.org/richlist/

[DenisZabar]

Dump already started  https://poloniex.com/exchange#btc_xem

Also https://www.coindesk.com/nem-foundation-layoffs-xem-crypto

[jkoil]

Dump already started  https://poloniex.com/exchange#btc_xem

Also https://www.coindesk.com/nem-foundation-layoffs-xem-crypto

Whales start the drop from "bad" news to buy from lower levels. An old trick


Edit: when looking the curve of the last year, the volume of today is not much.
... ofc it will grow, when the whales read this

[lemonandfriesonetwo]

Call it for what it is:
We have been scammed.
Get rid of the foundation.
Reward the developers and hire a marketing team.
Foundation is just a black hole for $$$.

NEMSecretariatOffice: "...We saw very little accountability for funds and questionable ROI, leading to a burn rate of 9 million XEM per month."

Maybe true, maybe not.
It is true that honey entices bees and other insects.
Among of them exist, sometimes, individuals who are more concerned about their personal benefits than the community.
That has been seen in many big, international companies.

If the NEM Foundation has been on the wrong rails, it is quite quickly corrected - it is much easier than turning big ships.

You do realize NEM was not meant to be a corporation with a CEO. It is a decentralized cryptocurrency, that's why the initial stake giveaway/sale.

I opposed the foundation when it started and thought it was a bad idea. And here we are now

The "foundation" hardly appears here to talk with the initial stake holders, they have ignored us and drowned our voices.

I say down with this "foundation" and fund development/marketing instead of enriching a couple of "sales managers"

Price of NEM would have been higher now, but the "foundation" decided to burn ~9 million NEM a month.

[kissubaby]

Coindesk's article was very misleading.

Do check out the response from NEM's foundation here: https://forum.nem.io/t/nem-foundation-update-a-response-to-questions-and-anticipated-questions/21776

One of the most important point to note is

the NEM Foundation operates as a separate entity and is one of many ecosystem contributors to the NEM open-source project. Therefore the NEM Foundation is not NEM. The NEM open source project remains strong and thriving and Catapult development is unaffected by the financial situation of the NEM Foundation.

No, the current Foundation is not bankrupt. We are running low on XEM and FIAT funds. The 2019 Foundation is currently preparing a plan to achieve funding for the rest of the fiscal year and the restructure was place as a cost-saving measure.

[-.xXx.-]

The NEM blockchain, which is behind the NEM (XEM) cryptocurrency, isn’t doing so well. According to a notice released by the NEM Foundation, a non-profit group formed to promote the blockchain, the foundation is short on cash and apparently could only survive for about one more month. In an effort to avoid having to file for bankruptcy, it will have to begin staff layoffs and is currently undergoing a significant restructuring.

https://forum.nem.io/t/nem-foundation-message-to-the-community/21753

SUGGEST RUN to OKcAsH or BitcoinSV they have the technological patents filed +1200 at this day

exemple: https://patentimages.storage.googleapis.com/92/ea/a4/24bf8330cdf7a3/WO2017187397A1.pdf?fbclid=IwAR1e4IPj87P1VZTxdEFHqeYLRCBbK11IZcn6BjlZFvMMyizeB71rmmzejy0

[expert20980]

XEM scam !!
this is confirmed informations about the XEM scam
In binance more then 1000BTC worth of XEM dumped and more then 100BTC dumped on polo
 XEM team start dumping the supply and scam peoples for millions of dollars exit from XEM shit before it fall more
XEM fall from 1400 satoshi to 1100 satoshi in less then 24 hours i think XEM will fall to 500 satoshi or less in the few next days
you can read more here
https://bitcointalk.org/index.php?topic=5104872.0

[icosscam]

XEM scam !!
this is confirmed informations about the XEM scam
In binance more then 1000BTC worth of XEM dumped and more then 100BTC dumped on polo
 XEM team start dumping the supply and scam peoples for millions of dollars exit from XEM shit before it fall more
XEM fall from 1400 satoshi to 1100 satoshi in less then 24 hours i think XEM will fall to 500 satoshi or less in the few next days
you can read more here
https://bitcointalk.org/index.php?topic=5104872.0

The one fact is clear; they are not SCAMMERS
I am sure, that we can go to 900-800 level, but I will say u a secret. Yesterday I bought a lot of XEM in 1149, today I add more in 1178.
As much people panic as much I earn, and a big whale does same.
One thing that could sink us all is if BTC will go straight to 1800. In that case, all should evacuate all ALTS

[fragout]

A fair take on the current situation from cryptolark
https://www.youtube.com/watch?v=ehAfHQoFLWg