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

[xtester]

@tuansew

Good points. It's actually impressive that nem held its ground against nxt through nxts decline. I don't think nems value is accurate since it's being dragged around by nxt lol will be interesting to see what happens once it's detached.

Could be a case of nem being severely undervalued due to the lack of entry points for fiat while having to jump hoops to go from exchange to exchange trading fiat > btc > nxt > nem. It's causing a bottleneck and restricting the inflow of money. And don't forget you need minimum 100 dollars of crypto just to top it off. This rocket is jam packed with jet fuel, and full launch will be the spark.

I predict some explosive growth in the first hours of hitting exchanges as more entry routes are opened and the doors open for the masses with few coins. Any current price swings Will be seen as stable.

I think it will be great for NEM to decouple from Nxt and be bought directly with btc.

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[xtester]

I would love to have a sneak peak at coinmarketcap in say   5 years or so  

Imho cmc isn't really reflecting the state of a coin and most definitely not of a movement. LTC is no better than any of the other forks yet it's 2nd

LTC is only there because it has the first mover advantage. I think it's reasonable to believe it won't be second in 1 year or so, in fact top 10 will look very different from what it is today.

CMC is obviously random at the moment, but in the long run I think it will become more accurate in reflecting the state of a coin.

[gsxrl3oi]

do we have eta or a rough eta on the actual NEMstakes release

[xtester]

I would love to have a sneak peak at coinmarketcap in say  5 years or so 

Here you go:

1. NEM
2. Nxt
3. BTC

 

[nembit86]

I would love to have a sneak peak at coinmarketcap in say  5 years or so 

Here you go:

1. NEM
2. Nxt
3. BTC

 

Love it.....lol....

[ARGpentem]

NEM's price is unrelated to the scammer fireselling.  It's still in its' healthy range around 25,000 NxT.    I suspect as we get closer to launch that the healthy range will increase to 40,000 NxT.

NEM losing value has more to do with NxT dropping a whole cent in the past days (as NEM is traded on the NxT asset exchange).  Recall back in April-May that NxT was only worth two to four cents (it was worth less than Doge for some weeks).  If NxT hypothetically went down to 2 cents again then a NEM stake would drop in value accordingly.


NxT could be in a free fall at the moment as its' upswing to 7 cents was likely all "hype buying" (speculation) from current users reacting to the news of the new asset exchange (June 1st) and the pay expos.  It's no different then how Bitcoin went up by $30 to $50 just from the news of newegg accepting BTC (was that from new people or was it, the answer, existing users speculating buying thinking Bitcoin will go up in value?  Ditto).


The reality is capitalization is often always manipulation or speculation to one degree or another.  The principle challenge is not trying to grow the capitalization but trying to grow the user base of a coin.  I think Doge did it right in that regard but Doge was crippled by poor technical and strategic decisions which later led to an net emigration of users to other coins.
.

nxt has been stable for a while since before it came out about the scammed stakes so it's not related to the fall in value of nxt. Nem stakes stayed at the same price in terms of nxt through the entire decline of nxt from the ath to present, until it came out about nodes puppets being in the nem stake holder list so I would assume it's that. If it is due to nxts decline, that's some seriously slow reactions by traders.

Nope.  Up until today, NEM effectively followed NxT.  This can be seen with the seven day graphs on coinmarketcap.  All the real decline in NEM occurred on sunday.  I suspect the "stolen stakes" is a non-factor here.  

Your second half of your post has merit, though.  There's been independent decline on sunday and I presume it's all the accused NODE socks (who are finding out today that they're on the public's radar) who are fireselling their NEM tokens. . but to suggest it's just them it's a foresight, NEM already took a beating when NxT lost a cent in value.

One scammed account is having 2.5 stakes for sale at 24. That is one major uncertainty. No one is buying that scammed stakes and people are selling because these stakes will be selling down anytime. This is the scammer account NXT-5SPQ-5AVB-PV6D-F6EJL

[twistelaar]

what happened with NEM price? -50%?

[TaunSew]

interesting blog post about proof of stake written by vitalik buterin

https://blog.ethereum.org/2014/07/05/stake/

@devs, is nem the solution to the issues brought up in this article?

I also saw the reddit thread. 

I'm not sure why Vitalik Buterin has such a wide cult following, even being more famous than a real Bitcoin developer like Gavin Andresen or even an alternate developer like Charlie Lee. 

Vitalik's fame was some obscure magazine which was only actively read by hundreds.  It seems probable that an old theory is correct - Goldman Sachs needed a "hip young mascot"  ("to appeal to the young Facebook masses") for their crypto currency, so they went with Vitalik.

[TaunSew]

what happened with NEM price? -50%?

Where is the -50%?  NEM is $1237 right now versus $1600 a week ago.  Measuring in $Fiat is inaccurate since NxT itself has lost a cent in the past week and NEM is traded on the NxT exchange.

[jkoil]

interesting blog post about proof of stake written by vitalik buterin

https://blog.ethereum.org/2014/07/05/stake/

@devs, is nem the solution to the issues brought up in this article?

I also saw the reddit thread. 

I'm not sure why Vitalik Buterin has such a wide cult following, even being more famous than a real Bitcoin developer like Gavin Andresen or even an alternate developer like Charlie Lee. 

Vitalik's fame was some obscure magazine which was only actively read by hundreds.  It seems probable that an old theory is correct - Goldman Sachs needed a "hip young mascot"  ("to appeal to the young Facebook masses") for their crypto currency, so they went with Vitalik.

Goldman Sachs ...  umph ... I would think very carefully about participating something, which is touched by GS. And would reject even from the principal basis.

http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%9308
http://www.businessweek.com/magazine/content/10_15/b4173030234603.htm

[TaunSew]

interesting blog post about proof of stake written by vitalik buterin

https://blog.ethereum.org/2014/07/05/stake/

@devs, is nem the solution to the issues brought up in this article?

I also saw the reddit thread.  

I'm not sure why Vitalik Buterin has such a wide cult following, even being more famous than a real Bitcoin developer like Gavin Andresen or even an alternate developer like Charlie Lee.  

Vitalik's fame was some obscure magazine which was only actively read by hundreds.  It seems probable that an old theory is correct - Goldman Sachs needed a "hip young mascot"  ("to appeal to the young Facebook masses") for their crypto currency, so they went with Vitalik.

Goldman Sachs ...  umph ... I would think very carefully about participating something, which is touched by GS. And would reject even from the principal basis.

http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%9308
http://www.businessweek.com/magazine/content/10_15/b4173030234603.htm

They have former Goldman Sachs.  Which you might otherwise excuse, saying someone's past shouldn't matter, but at the same time there's only so many people in the world who have worked for GS (we're talking tens of thousands in a planet with billions of people).  It's not a coincidence that one would show up in coin which appears to have huge funding.  There's plenty of developers and organizers without that sort of background.

That's not the reason why I dislike Ethereum.  To me Ethereum is a copywrighting coin like Mastercoin and Maidsafe.  Worse yet, they seem to be a copywrighting equivalent to Ripple.

  They spam YouTube with these awful rhetorical rambles about politics and bankings which last over a hour and only get a few hundred views.  They pump out equally boring articles which nobody reads.  They have all these developers and people who don't work for free..  so where are these guys going to get their compensation?

IIRC - Ethereum (before it got in trouble with the Ontario & Canadian Government) admitted it wanted a $30 million IPO.  I'm sure that money would be put to great use.  Vitalik already vacations around the world but I guess he needs a Tesla automobile and a mansion in Thunderbay (or whatever constitutes a nice area of Ontario).

https://forum.ethereum.org/discussion/107/why-30-million-why-so-inflationary
(or, alternatively, just google "Ethereum 30,000 BTC" without the quotations)

It makes you wonder the point of even investing into Ethereum if it's a grand version of Mastercoin.  I put in $1000?  Ok that gives me 0.000033% of Ethereum...   making it $10,000 to get 0.0003% makes no quantifiable difference for what is an extreme high risk investment (the people who invested into Mastercoin and Maidsafe know this.  They would had made more money off Doge, NxT, Darkcoin, et al).  Ponzi schemes ran by wealthy investors and greedy developers is just exactly what we all want *sarcasm*

Then there are the technical issues.  I'm not a programming but I can say this: programming languages like Java, C++, et cetera, weren't born overnight and took as long as a decade or more to work out the kinks.  I doubt Vitalik was busy programming his revolutionary new language when he was twelve.  Not only will it take time for Ethereum language to be completed but there's also an education issue in that Ethereum language developers currently don't exist and they'll have to spend years to master the language and then pump out the code. 

Ethereum, if you noticed, has exiled itself from Bitcointalk after it couldn't take any criticism.  They've also banned and deleted many users from their own forums.

Stay classy Goldman Sachs

[jabo38]

I would love to have a sneak peak at coinmarketcap in say   5 years or so  

Imho cmc isn't really reflecting the state of a coin and most definitely not of a movement. LTC is no better than any of the other forks yet it's 2nd

LTC is only there because it has the first mover advantage. I think it's reasonable to believe it won't be second in 1 year or so, in fact top 10 will look very different from what it is today.

CMC is obviously random at the moment, but in the long run I think it will become more accurate in reflecting the state of a coin.

More and more POS (or PoI like NEM) and less and less PoW

[mrvegad]

damn, nice post lol that pretty much sums ethereum up in one foul swoop.

on a side note. just had an idea. i think vic was talking about getting people onto the nem forum but only realised that after i though of something else.

(perhaps some kinks to be worked out, but i think this could be a good, and different idea)

http://forum.nemcoin.com/index.php?topic=2277.msg3177#msg3177

credit goes to ARGpentem for the forum idea

[TaunSew]

When the incentive is there then people will sign up.  As of now, although this is a catch-22, there isn't really any exciting discussions ("but how can there be any exciting discussions if there are no people", hence the catch 22).

[makoto1337]

Some cities in Spain are using decentralized currencies, but you can only use within cities. The elite can't control us as before!

New technology = New Times

Get them to use NEM!

[DarkhorseofNxt]

Unable to register myself in nem forum. Kept showing error. Login from my mobile.

[makoto1337]

Unable to register myself in nem forum. Kept showing error. Login from my mobile.

What did the error say?

Does it work if you register from a computer?

[TaunSew]

Between NxT losing value and people dumping NEMstake, think we'll see $500 NEMstake soon?  Cheap.      

[DarkhorseofNxt]

Unable to register myself in nem forum. Kept showing error. Login from my mobile.

What did the error say?

Does it work if you register from a computer?

It only says error. You have no access to this page. Tried multiple times. I cant access this site from my office pc. I will try again afterwards.

[rockethead]

interesting blog post about proof of stake written by vitalik buterin

https://blog.ethereum.org/2014/07/05/stake/

@devs, is nem the solution to the issues brought up in this article?

I also saw the reddit thread.  

I'm not sure why Vitalik Buterin has such a wide cult following, even being more famous than a real Bitcoin developer like Gavin Andresen or even an alternate developer like Charlie Lee.  

Vitalik's fame was some obscure magazine which was only actively read by hundreds.  It seems probable that an old theory is correct - Goldman Sachs needed a "hip young mascot"  ("to appeal to the young Facebook masses") for their crypto currency, so they went with Vitalik.

Goldman Sachs ...  umph ... I would think very carefully about participating something, which is touched by GS. And would reject even from the principal basis.

http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%9308
http://www.businessweek.com/magazine/content/10_15/b4173030234603.htm

They have former Goldman Sachs.  Which you might otherwise excuse, saying someone's past shouldn't matter, but at the same time there's only so many people in the world who have worked for GS (we're talking tens of thousands in a planet with billions of people).  It's not a coincidence that one would show up in coin which appears to have huge funding.  There's plenty of developers and organizers without that sort of background.

That's not the reason why I dislike Ethereum.  To me Ethereum is a copywrighting coin like Mastercoin and Maidsafe.  Worse yet, they seem to be a copywrighting equivalent to Ripple.

  They spam YouTube with these awful rhetorical rambles about politics and bankings which last over a hour and only get a few hundred views.  They pump out equally boring articles which nobody reads.  They have all these developers and people who don't work for free..  so where are these guys going to get their compensation?

IIRC - Ethereum (before it got in trouble with the Ontario & Canadian Government) admitted it wanted a $30 million IPO.  I'm sure that money would be put to great use.  Vitalik already vacations around the world but I guess he needs a Tesla automobile and a mansion in Thunderbay (or whatever constitutes a nice area of Ontario).

https://forum.ethereum.org/discussion/107/why-30-million-why-so-inflationary
(or, alternatively, just google "Ethereum 30,000 BTC" without the quotations)

It makes you wonder the point of even investing into Ethereum if it's a grand version of Mastercoin.  I put in $1000?  Ok that gives me 0.000033% of Ethereum...   making it $10,000 to get 0.0003% makes no quantifiable difference for what is an extreme high risk investment (the people who invested into Mastercoin and Maidsafe know this.  They would had made more money off Doge, NxT, Darkcoin, et al).  Ponzi schemes ran by wealthy investors and greedy developers is just exactly what we all want *sarcasm*

Then there are the technical issues.  I'm not a programming but I can say this: programming languages like Java, C++, et cetera, weren't born overnight and took as long as a decade or more to work out the kinks.  I doubt Vitalik was busy programming his revolutionary new language when he was twelve.  Not only will it take time for Ethereum language to be completed but there's also an education issue in that Ethereum language developers currently don't exist and they'll have to spend years to master the language and then pump out the code. 

Ethereum, if you noticed, has exiled itself from Bitcointalk after it couldn't take any criticism.  They've also banned and deleted many users from their own forums.

Stay classy Goldman Sachs

We should not just see the negative side of things. Vitalik's claim to fame was because he put a face to his name. He sold himself well. We shouldn't discredit that as each entity has its own objectives and motive for doing so. That's marketing 101. If he did not do that, would we be talking about him here?

Whether they can deliver ethereum is another matter. And to be honest, even with such exposure, they haven't even reach mainstream yet. I can say that it is not that easy to market a crypto these days, what with thousands of them being rolled out. Without a war chest of money, it is going to be difficult.  Such is the evil of reality in which we live in.


Come the day, when NEM will have to do the same. No matter how great it is, it will not gain mainstream traction if we do not have deep pockets.

Bitcoin is five years old and it is only being used by a little over 2 million account holders (note, Account holders not necessary unique persons). About a couple of hundred million have been thrown into the project by investors all over and is moving at an extremely slow pace.

Unlike all Internet/mobile fast paced initiatives of the 21st, century, cryptos as a project which hold so much promise is moving at a snail's pace. Perhaps, it is important to ponder why.

Should we discuss this further in the nem forum? I have set up a link for that here : http://forum.nemcoin.com/index.php?topic=2278.0