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

[instacalm]

There's that one Walrus* on the AE who owns like 25 stakes out of 4 billion coins.

If each stake is 1 million nem,  26 stakes  is 2.6%

26 NS of 1000 NS = 2.6% (26 out of 1000 NemStakes)
NemStakes represent 1000 * 1M = 1B = 1/4 of total NEM

26 * 1M = 26M
total amount of NEM 4B = 4000M
26M of 4000M = 0.65%

http://www.nxtreporting.com/shareholder.php?a=12465186738101000735

If one adds up the ten largest NemStake holders:
26.2, 10.2, 10.0, 10.0, 9.9, 9.5, 9.0, 8.9, 6.5, 6.1
-----------------------------
106.3 of 1000M = 10.63%
10 largest NemStake holders combined own 10.63% of the 1000 NemStakes
106.3 * 1M = 106'300'000
106'300'000 of 4B = 2.658%
10 largest NemStake holders combined own 2.658% of the total 4B NEM.

1 NemStake = 1M NEM = 0.025% of the total 4B NEM.

[Eadeqa]

If one adds up the ten largest NemStake holders:
26.2, 10.2, 10.0, 10.0, 9.9, 9.5, 9.0, 8.9, 6.5, 6.1

I am pretty sure there are some people who have Nem stake in multiple nxt accounts.

[instacalm]

If one adds up the ten largest NemStake holders:
26.2, 10.2, 10.0, 10.0, 9.9, 9.5, 9.0, 8.9, 6.5, 6.1

I am pretty sure there are some people who have Nem in multiple nxt accounts. There are probably a few more that these

That certainly could be. However, I was merely referring to accounts, not persons.

But keep in mind if a person would like to own say 2% of all NEM, it'd be necessary to buy up 80 NemStakes = 80 * ~23k NXT current market price = 1'840'000 Nxt = ~138 BTC = ~80'000$. That's a lot of trust.

[Jaguar0625]

IMO callin a NXT AE a free market is kind of joke In theory it is, but as we know that there are really big whales.  They surely can manipulate prices, so it is more like oligopoly.

These big "whales" can buy Nem at any exchange after the launch. Why are you jealous of them? You can't stop them from buying Nem, if they want, even after the launch.  Nxt AE is a free market.

Let's remember that NEM has not launched yet. The intent of listing NEMStake on the NXT AE was to better distribute NEM tokens and provide some liquidity. But, the market for pre-release NEMStake was never intended to be free (and it does not satisfy the definition of a free market because of the conversion rules).

The description of NEMStake clearly states:

A NEMstake token represents one million NEM receivable after the official launch of NEM blockchain. The token can be traded down to one digit after zero (minimum unit is 1/10 of a token). Our website is www.ournem.com. Please read about NEM, NEMstake token and the conversion rules in our dedicated thread before buying NEMstake. The issuing account is NXT-J62B-CNAR-34YW-4RCFN.

People trying to hoard NEMStake might be unhappy with the redemption process, but if people did not bother to read and understand the conversion rules, I don't feel too sorry for them.

Once NEM is officially released, the NEM market will be completely free. It's likely, but not inevitable, that the Pareto principle will take hold at that point. But, it's not desirable to have that concentration pre-release.

[atoni]

NEM is not a concern for me but you guys are funny. You do realize that if that person that owns 26 stakes has to make 13 next accounts and make 13 claims that it means more job for you while nothing changed?

[rockethead]

NEM is not a concern for me but you guys are funny. You do realize that if that person that owns 26 stakes has to make 13 next accounts and make 13 claims that it means more job for you while nothing changed?

I hope you are not one of them. But you may want to think harder that there may be ways to prevent that too..;-)

I wouldn't try that. Sorry folks, I hope I am not creating a dump action here.

[atoni]

NEM is not a concern for me but you guys are funny. You do realize that if that person that owns 26 stakes has to make 13 next accounts and make 13 claims that it means more job for you while nothing changed?

I hope you are not one of them. But you may want to think harder that there may be ways to prevent that too..;-)

I wouldn't try that. Sorry folks, I hope I am not creating a dump action here.

Why do you hope I am not one of them?

There is no way to prevent that, rules clearly stated that 2 stakes per nxt account are maximum. So if he sends them to 13 accounts he didnt break any rules as rules were not written 2 stakes per person.

Anyway, I just made a comment on how that looks from outside.

EDIT: Here are the rules, actually he will need to make 13 NEM accounts too:
9. Additional conversion condition: A maximum of 2 NEMstake tokens will be allowed to convert to NEM per one NXT account (with one unique NEM receiving account). That means if one account sends more than 2 NEMstake tokens back to the issuer account for NEM, he will receive the cap for that account of 2 million NEM. This hopefully will partly discourage an early concentration of NEM in a few accounts.

[devphp]

There is no point in competing on the basis of "more fairness than in X coin", it will still be unfair to 7 billion people out there, no matter how you slice it.

Only newbs, most likely indulged by safety nets of socialism, believe that fairness is possible, well, those newbs don't have much funds to invest anyway or to keep the coin going and only looking to quickly cash out to support their spending habits.

[gimre]

NEM is not a concern for me but you guys are funny. You do realize that if that person that owns 26 stakes has to make 13 next accounts and make 13 claims that it means more job for you while nothing changed?

that will be almost NO additional work for us, but quite a lot for him. That is intended

[atoni]

NEM is not a concern for me but you guys are funny. You do realize that if that person that owns 26 stakes has to make 13 next accounts and make 13 claims that it means more job for you while nothing changed?

that will be almost NO additional work for us, but quite a lot for him. That is intended

That is true, he will have to make 26 new accounts. I was just saying that it doesnt make sense as it will be more work for you while nothing will be changed as he will still have 26 stakes.

[Seedeer]

Can't argue with the gods of NEM

[patmast3r]

I issued the tokens that were request up to this point.
To make this abundantly clear for the future:

We send out tokens every MONDAY (GMT)!
We issue all tokens that have been requested 24h in advance (GMT)
We will not make exceptions.

PMs that don't satisfy protocoll i.e. no tx id or alike will most likely be ignored.

[ARGpentem]

NEM is not a concern for me but you guys are funny. You do realize that if that person that owns 26 stakes has to make 13 next accounts and make 13 claims that it means more job for you while nothing changed?

that will be almost NO additional work for us, but quite a lot for him. That is intended

I am not the buyer of 26 stakes but I estimate it costs at least 30.000 $ or more to buy these. It is not even 1% of the total NEM (around 0.6%), a very small number compared to the 25% of the total your team save up. I think you should show respect to this investor because without him NEM value will fall much harder.

[STforLife]

There are no whales, those guys are tunas, we are losos and rest will be plankton guys.

I dont see reason to restrict it to 2 stakes. Those guys earned those stakes the most fairiest way they could. They purchased them for real money, they had to work for. Some people got it for making announcement on forum. Why to make it harder for those who believe in it and maybe had to work many hours in real jobs.

everything is OK.

[contraband]

I received my Nemstake.

Thank you NEM team

Thank you Jaguar, Patmast3r, and Xtester.

[ARGpentem]

There are no whales, those guys are tunas, we are losos and rest will be plankton guys.

I dont see reason to restrict it to 2 stakes. Those guys earned those stakes the most fairiest way they could. They purchased them for real money, they had to work for. Some people got it for making announcement on forum. Why to make it harder for those who believe in it and maybe had to work many hours in real jobs.

everything is OK.

+1 I am not going to buy anymore NEMstake. Will wait until the official launch. The price will definitely be lower anyway. 

[rabbiter]

There's that one Walrus* on the AE who owns like 25 stakes out of 4 billion coins.

If each stake is 1 million nem,  26 stakes  is 2.6%

400m nem = 10%

40m = 1%

26m = 0.65% (i think)

thats a small whale if you ask me, barely a whale.. in nem thats a whale ya but only cos the distribution is so good.. but in most other coins with low marketcap 1% or more is a whale.

again its all about perspective.

Qora had a similar distribution without the whole we are Communists bullshit thrown in.

[solix]

There's that one Walrus* on the AE who owns like 25 stakes out of 4 billion coins.
 
* (is it a whale if they only own like 0.006% of NEM?  Like half of one percent is a bit different from the whales we see in every other coin who own 5%-95%)

It's 32ish now Anyone run a report lately?

And by the way:
http://www.nxtreporting.com/shareholder.php?a=12465186738101000735

That doesn't seem to update.

[ARGpentem]

There's that one Walrus* on the AE who owns like 25 stakes out of 4 billion coins.

If each stake is 1 million nem,  26 stakes  is 2.6%

400m nem = 10%

40m = 1%

26m = 0.65% (i think)

thats a small whale if you ask me, barely a whale.. in nem thats a whale ya but only cos the distribution is so good.. but in most other coins with low marketcap 1% or more is a whale.

again its all about perspective.

Qora had a similar distribution without the whole we are Communists bullshit thrown in.

Obviously KORA (ORA) does not think so  . KORA > QORA

[patmast3r]

There's that one Walrus* on the AE who owns like 25 stakes out of 4 billion coins.

If each stake is 1 million nem,  26 stakes  is 2.6%

400m nem = 10%

40m = 1%

26m = 0.65% (i think)

thats a small whale if you ask me, barely a whale.. in nem thats a whale ya but only cos the distribution is so good.. but in most other coins with low marketcap 1% or more is a whale.

again its all about perspective.

Qora had a similar distribution without the whole we are Communists bullshit thrown in.

Is that thing open source yet ?
I really wanna see what they changed regarding POS. (like genuinely - not trolling.)