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

[evoked22]

Great work community

How much NXT is 1 stake worth at the moment?

Cheers

[wegsturm]

Great work community

How much NXT is 1 stake worth at the moment?

Cheers

https://nxtblocks.info/#section/assets_exchange/market/12465186738101000735

[evoked22]

Great work community

How much NXT is 1 stake worth at the moment?

Cheers

https://nxtblocks.info/#section/assets_exchange/market/12465186738101000735

So 1 stake is worth 23~25K NXT?

[kingbtcvl]

short question, guys:
when the beta starts at the end of this month, will the stakes at the nxt AE already be converted to nem or will this only happen after the final release?

[grappa_barricata]

The major fault of this project is in the initial distribution methodology. That is a tricky thing to solve.

[grappa_barricata]

The major fault of this project is in the initial distribution methodology. That is a tricky thing to solve.

you what? lol

i hope you are trolling, or just got the wrong thread..

No, that was my disinterested honest opinion on this project. Make of it what you want.

[grappa_barricata]

what was so bad about the distribution in your opinion? in fairness its probably the best by a long shot of all cryptos.

I think that this

Code:

The total supply will be distributed as follows: 
71% - distributed to stakeholders on the final stakeholder list.
10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem.
4% - auctioned off at a later date.

effectively undermine the usefulness of this project (that had some merits).

As a software developer myself, i fail to see why one should be rewarded so much for what can really be realized on passionate free-time, while still profiting from it a big deal.
In addition, distributing any currency with an IPO really concentrate the ownership in the hands of a few, and that is a central point of failure waiting to happen.
Finally, directly rewarding 'promoters' economically lead to questions like: "Is that guy promoting it because he think it is a worthy idea, or it is promoting it because he get paid for that?"

This is my opinion. Thanks for asking without assuming 'do not agree, therefore troll' this time.

[TaunSew]

what was so bad about the distribution in your opinion? in fairness its probably the best by a long shot of all cryptos.

I think that this

Code:

The total supply will be distributed as follows: 
71% - distributed to stakeholders on the final stakeholder list.
10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem.
4% - auctioned off at a later date.

effectively undermine the usefulness of this project (that had some merits).

As a software developer myself, i fail to see why one should be rewarded so much for what can really be realized on passionate free-time, while still profiting from it a big deal.
In addition, distributing any currency with an IPO really concentrate the ownership in the hands of a few, and that is a central point of failure waiting to happen.
Finally, directly rewarding 'promoters' economically lead to questions like: "Is that guy promoting it because he think it is a worthy idea, or it is promoting it because he get paid for that?"

This is my opinion. Thanks for asking without assuming 'do not agree, therefore troll' this time.

i think myself and every other person in the community would disagree but as you said.. each to their own.. come back in 6 months and let us know if you think you made the right choice to not buy in..

Of course we know his problem with NEM - his problem was nobody made him sign up back in early 2014, even though 3000 other stakeholders somehow did it.  NEM is the No Envy Movement and yet I detect some Envy.  

It was an unprecedented large distribution (which no one has come close to repeating - NODE, Ora and Community Coin had to prematurely close due to a lack of interest - coins which were announced after NEM and copied the distribution pattern).

 It was also well publicized for a long time, being in the top 10 threads on the announcement section for a long time.  Even with token trading, when you see how much people spend on other coins, NEM is arguably affordable due to the $capital controls implemented (2 tokens per account is keeping the price down).



NEM is concentrated into a few hands with its' 3000 stakeholders and then the individual developers who receive less than 1% IIRC?  Compared to what?  

This is compared to 99.9% of coins (past, present and upcoming) which have distributions to less than 100 and individuals (who don't do any development) can often get 5%+ of a coin just by throwing in a single BTC or two.  

The PoW coins are a private IPO where the earliest miners with the best hardware and technical-knowhow can get most of the coins.


Compared to outside of crypto currencies..  Even at the first Apple IPO back in 1980 only like 300 people showed up (and that was considered a large distribution back then).


No need for me to make a conclusion when most of you would agree with it.  There's a stark contrast to something involving thousands (NEM) compared to something involving dozens or best case scenario hundreds.

 

[sdersdf2]

what was so bad about the distribution in your opinion? in fairness its probably the best by a long shot of all cryptos.

I think that this

Code:

The total supply will be distributed as follows: 
71% - distributed to stakeholders on the final stakeholder list.
10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem.
4% - auctioned off at a later date.

effectively undermine the usefulness of this project (that had some merits).

As a software developer myself, i fail to see why one should be rewarded so much for what can really be realized on passionate free-time, while still profiting from it a big deal.
In addition, distributing any currency with an IPO really concentrate the ownership in the hands of a few, and that is a central point of failure waiting to happen.
Finally, directly rewarding 'promoters' economically lead to questions like: "Is that guy promoting it because he think it is a worthy idea, or it is promoting it because he get paid for that?"

This is my opinion. Thanks for asking without assuming 'do not agree, therefore troll' this time.

i think myself and every other person in the community would disagree but as you said.. each to their own.. come back in 6 months and let us know if you think you made the right choice to not buy in..

Of course we know his problem with NEM - his problem was nobody made him sign up back in early 2014, even though 3000 other stakeholders somehow did it.  NEM is the No Envy Movement and yet I detect some Envy.  

It was an unprecedented large distribution (which no one has come close to repeating - NODE, Ora and Community Coin had to prematurely close due to a lack of interest - coins which were announced after NEM and copied the distribution pattern).

 It was also well publicized for a long time, being in the top 10 threads on the announcement section for a long time.  Even with token trading, when you see how much people spend on other coins, NEM is arguably affordable due to the $capital controls implemented (2 tokens per account is keeping the price down).



NEM is concentrated into a few hands with its' 3000 stakeholders and then the individual developers who receive less than 1% IIRC?  Compared to what?  

This is compared to 99.9% of coins (past, present and upcoming) which have distributions to less than 100 and individuals (who don't do any development) can often get 5%+ of a coin just by throwing in a single BTC or two.  

The PoW coins are a private IPO where the earliest miners with the best hardware and technical-knowhow can get most of the coins.

No need for me to make a conclusion when most of you would agree with it.  There's a stark contrast to something involving thousands (NEM) compared to something involving dozens or best case scenario hundreds.

+1
The amount of people (users and Guests) online at any given time on bitcointalk numbers about 4000 - and it was probably closer to 3000 during NEM's ICO. The ICO was open to all, with the ICO thread going on for dozens of pages. And you didn't have to own or rent an expensive mining rig to get it. NEM couldn't have been distributed more fairly.

Expect more of this kind of FUD as NEM's price resumes its rise - utterly predictable these days as the crypto pie in general continues to shrink and people fight and try to manipulate over the very few high-quality crumbs out there across multiple [ANN] threads.

[nembit86]

what was so bad about the distribution in your opinion? in fairness its probably the best by a long shot of all cryptos.

I think that this

Code:

The total supply will be distributed as follows: 
71% - distributed to stakeholders on the final stakeholder list.
10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem.
4% - auctioned off at a later date.

effectively undermine the usefulness of this project (that had some merits).

As a software developer myself, i fail to see why one should be rewarded so much for what can really be realized on passionate free-time, while still profiting from it a big deal.
In addition, distributing any currency with an IPO really concentrate the ownership in the hands of a few, and that is a central point of failure waiting to happen.
Finally, directly rewarding 'promoters' economically lead to questions like: "Is that guy promoting it because he think it is a worthy idea, or it is promoting it because he get paid for that?"

This is my opinion. Thanks for asking without assuming 'do not agree, therefore troll' this time.

It is clear that you are no idiot, not so sure about no troll . Dont you think it is fair to take what you consider to be fair from a project where you have done all the work? Compared to all other coins this development team have been more than generous. NEM will be great and these guys know it. 75% ownership is not 'the few'. Dont you realise that?

Join us....we need intelligent guys like you..................

[Thingamajig]

what was so bad about the distribution in your opinion? in fairness its probably the best by a long shot of all cryptos.

I think that this

Code:

The total supply will be distributed as follows: 
71% - distributed to stakeholders on the final stakeholder list.
10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem.
4% - auctioned off at a later date.

effectively undermine the usefulness of this project (that had some merits).

As a software developer myself, i fail to see why one should be rewarded so much for what can really be realized on passionate free-time, while still profiting from it a big deal.
In addition, distributing any currency with an IPO really concentrate the ownership in the hands of a few, and that is a central point of failure waiting to happen.
Finally, directly rewarding 'promoters' economically lead to questions like: "Is that guy promoting it because he think it is a worthy idea, or it is promoting it because he get paid for that?"

This is my opinion. Thanks for asking without assuming 'do not agree, therefore troll' this time.

It's easy to criticize, and although i think constructive criticism is important, i can't say i quite get your point - especially as you don't exactly offer suggestions as to how you would've done it.

Face facts, NEM had seen a stake distribution like no other, it was this distribution that made me participate in the end.

Even the all too common PoW distribution model is massively unfair and centralized when you consider mining power is now exclusively in the hands of those who have the deep pockets to finance and manage it. "Mining" has been out of the grasp of the average person for quite some period now.

[dandruff1138]

"Mining" has been out of the grasp of the average person for quite some period now.

Yep! +1

[TaunSew]

"Mining" has been out of the grasp of the average person for quite some period now.

Yep! +1

Actually I would say from the beginning.  Today we have all these mining tutorials and most people still can't figure out mining.  Go back 5 years and there were no mining tutorials back then (although the typical computer was certainly capable of CPU mining - but if the owner did not know how to mine then it's a moot point).

This is compared to NEM where you click the harvest button and that's all it takes to get started, no tutorials (no learning curve) and you can do this on any computer.  Harvesting in NEM is better than Bitcoin mining in 2009 (before people were priced out of the hardware or had to figure out ASICs, mining pools, which hardware to use, et cetera).

[nembit86]

"Mining" has been out of the grasp of the average person for quite some period now.

Yep! +1

Actually I would say from the beginning.  Today we have all these mining tutorials and most people still can't figure out mining.  Go back 5 years and there were no mining tutorials back then (although the typical computer was certainly capable of CPU mining - but if the owner did not know how to mine then it's a moot point).

This is compared to NEM where you click the harvest button and that's all it takes to get started, no tutorials (no learning curve) and you can do this on any computer.  Harvesting in NEM is better than Bitcoin mining in 2009 (before people were priced out of the hardware or had to figure out ASICs, mining pools, which hardware to use, et cetera).

great comment!!!!!!!!!!!!

[TaunSew]

"Mining" has been out of the grasp of the average person for quite some period now.

Yep! +1

Actually I would say from the beginning.  Today we have all these mining tutorials and most people still can't figure out mining.  Go back 5 years and there were no mining tutorials back then (although the typical computer was certainly capable of CPU mining - but if the owner did not know how to mine then it's a moot point).

This is compared to NEM where you click the harvest button and that's all it takes to get started, no tutorials (no learning curve) and you can do this on any computer.  Harvesting in NEM is better than Bitcoin mining in 2009 (before people were priced out of the hardware or had to figure out ASICs, mining pools, which hardware to use, et cetera).

great comment!!!!!!!!!!!!

Yes.  All the haters and FUDDers come out of the woodwork to attack NEM, need not care about them.  The 99.99% of people when they use and hear about NEM will think it just makes sense.  NEM is the first egalitarian crypto which is fairly distributed and anyone is capable of harvesting without needing $10,000s+ in computer hardware or the technical knowledge.

PoI is a simplified continuation from PoW in 2009.    Not to be mistaken with the PoW regression of 2014 where you have to spend $60K a month in electricity to mine.  Bitcoin ceased being an economic movement when it necessitated the use of significant $Fiat capital to remain competitive and to gain an edge on other users.

[nembit86]

"Mining" has been out of the grasp of the average person for quite some period now.

Yep! +1

Actually I would say from the beginning.  Today we have all these mining tutorials and most people still can't figure out mining.  Go back 5 years and there were no mining tutorials back then (although the typical computer was certainly capable of CPU mining - but if the owner did not know how to mine then it's a moot point).

This is compared to NEM where you click the harvest button and that's all it takes to get started, no tutorials (no learning curve) and you can do this on any computer.  Harvesting in NEM is better than Bitcoin mining in 2009 (before people were priced out of the hardware or had to figure out ASICs, mining pools, which hardware to use, et cetera).

great comment!!!!!!!!!!!!

Yes.  All the haters and FUDDers come out of the woodwork to attack NEM, need not care about them.  The 99.99% of people when they use and hear about NEM will think it just makes sense.  NEM is the first egalitarian crypto which is fairly distributed and anyone is capable of harvesting without needing $10,000s+ in computer hardware or the technical knowledge.

PoI is a simplified continuation from PoW in 2009.    Not to be mistaken with the PoW regression of 2014 where you have to spend $60K a month in electricity to mine.  Bitcoin ceased being an economic movement when it necessitated the use of significant $Fiat capital to remain competitive and to gain an edge on other users.

your on a roll man.....rock on.....lol....

[xtester]

Interesting stuff: http://www.coindesk.com/hacker-hijacks-satoshi-nakamoto-email/

[asdlolciterquit]

So the release is planned on october?
I'm already waiting half of a year.  

open beta or a "true" 1.0 release?

True release expected to be sometime in November. Coin Distribution sometime in the third week of October.

Beta sometime this month.

My guestimation. Not a formal schedule.

What is true release anyway ? Bitcoin is still in Beta.

with "true release" i mean the phase after beta..

[gimre]

So the release is planned on october?
I'm already waiting half of a year.  

Can you tell, what exactly are you waiting on?

[crackerhead]

Interesting stuff: http://www.coindesk.com/hacker-hijacks-satoshi-nakamoto-email/

WOW didn't think that would be coming, wonder if it's legit.
I find the theory that it's an inside job by GMX very interesting.

So the release is planned on october?
I'm already waiting half of a year.  

Can you tell, what exactly are you waiting on?

+1 Gimre