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

[amytheplanarshift]

If you have forged 2 blocks your balance can't be that low

With 50k you should be able to forge 1 block a week on average, dispersed over time performance. It could go two-three weeks with no blocks and then hit 3 blocks in one week, that's why only longer timeframes stats can give a clear picture.

Of course, I'm not sure if I would call 50k NXT "low" necessarily. That's a decent chunk of change for most people, especially investing in such a high-risk asset like NXT or any crypto. That is, unless you got in on NXT when it was way cheaper than it is now.

[devphp]

If you have forged 2 blocks your balance can't be that low

With 50k you should be able to forge 1 block a week on average, dispersed over time performance. It could go two-three weeks with no blocks and then hit 3 blocks in one week, that's why only longer timeframes stats can give a clear picture.

Of course, I'm not sure if I would call 50k NXT "low" necessarily. That's a decent chunk of change for most people, especially investing in such a high-risk asset like NXT or any crypto. That is, unless you got in on NXT when it was way cheaper than it is now.

Depends on what you compare with. If you compare with Bitcoin mining gear, 50k NXT works out to only $2000 of hardware, which wouldn't get you far and you wouldn't be able to mine a single block in Bitcoin and even if you mine through a pool your investment would hardly be profitable. But in NXT you can, and since NXT is on the way to dominate crypto currencies and overtake Bitcoin, investing $2000 now for the lifetime privilege of forging 1 block per week, forever, is not that high a price

[amytheplanarshift]

If you have forged 2 blocks your balance can't be that low

With 50k you should be able to forge 1 block a week on average, dispersed over time performance. It could go two-three weeks with no blocks and then hit 3 blocks in one week, that's why only longer timeframes stats can give a clear picture.

Of course, I'm not sure if I would call 50k NXT "low" necessarily. That's a decent chunk of change for most people, especially investing in such a high-risk asset like NXT or any crypto. That is, unless you got in on NXT when it was way cheaper than it is now.

Depends on what you compare with. If you compare with Bitcoin mining gear, 50k NXT works out to only $2000 of hardware, which wouldn't get you far and you wouldn't be able to mine a single block in Bitcoin and even if you mine through a pool your investment would hardly be profitable. But in NXT you can, and since NXT is on the way to dominate crypto currencies and overtake Bitcoin, investing $2000 now for the lifetime privilege of forging 1 block per week, forever, is not that high a price

Very true. Also, someone just bought up quite a bit of NEMstake.

[devphp]

Very true. Also, someone just bought up quite a bit of NEMstake.

Wasn't me, I bought a little a couple of months ago, just enough to keep me interested how it develops, hopefully we get to see it soon on live net

[wegsturm]

Regarding the discussion about the currency symbol, I'll copy and paste what I wrote on the NEM forums here for everyone to discuss.

Theoretically a vote should not cause any drama. The majority wins, end of story. This is how a democratic system works. However, with that being said, having a community vote on something like this may be flawed, and I will explain why.

I've seen many other cryptocurrencies voting on things related to design and aesthetics. However, the reality is that most people here and in general have no experience in this field. Art and design is a specialized field, just like anything else. Having a vote on something like a logo or a currency symbol is something that should be left up to a trusted professional. Otherwise, it would be like voting on specific changes to the codebase when the majority of the community does not even know the first thing about coding.

Many people refuse to believe that art/design is something that can only be done by a professional. Everyone thinks they just inherently know what looks good and what does not, but that simply is not true. I feel that any decision for NEM related to design aesthetics be left to a trusted professional in that field, or at least someone who has demonstrated that they have the knowledge required to make those decisions. People are always going to complain about such a decision because it does not fit what they feel looks good in their eyes. But those are untrained eyes, and such an opinion should be completely disregarded (at least, that's how I feel about it).

I only say this as someone who has a faint background in art and design (I am an artist in my spare time and have a bit of formal training), and I know all too well how people without the requisite training can be severely misguided in terms of what makes an effective design and what does not.

Anyway, that's just my opinion. If the community would prefer to have a vote for this sort of thing, then that is not my decision to make. Just wanted to throw my thoughts into the mix.

I agree with you that design is a specialized field and only professionals have the knowledge and training to recognize "good" design.
However, the currency symbol is for the eye of the masses. If a designer makes a great design according to his experience and a great majority of the community thinks it looks like sh*t, it doesn't fit to a product that aims for mass adoption. If you have enough voices of lay persons against/for a design within the community you can assume it's (approximately) the same oppinion as the rest of the world will have (excluding all other professionals ).

[Thingamajig]

Regarding the discussion about the currency symbol, I'll copy and paste what I wrote on the NEM forums here for everyone to discuss.

Theoretically a vote should not cause any drama. The majority wins, end of story. This is how a democratic system works. However, with that being said, having a community vote on something like this may be flawed, and I will explain why.

I've seen many other cryptocurrencies voting on things related to design and aesthetics. However, the reality is that most people here and in general have no experience in this field. Art and design is a specialized field, just like anything else. Having a vote on something like a logo or a currency symbol is something that should be left up to a trusted professional. Otherwise, it would be like voting on specific changes to the codebase when the majority of the community does not even know the first thing about coding.

Many people refuse to believe that art/design is something that can only be done by a professional. Everyone thinks they just inherently know what looks good and what does not, but that simply is not true. I feel that any decision for NEM related to design aesthetics be left to a trusted professional in that field, or at least someone who has demonstrated that they have the knowledge required to make those decisions. People are always going to complain about such a decision because it does not fit what they feel looks good in their eyes. But those are untrained eyes, and such an opinion should be completely disregarded (at least, that's how I feel about it).

I only say this as someone who has a faint background in art and design (I am an artist in my spare time and have a bit of formal training), and I know all too well how people without the requisite training can be severely misguided in terms of what makes an effective design and what does not.

Anyway, that's just my opinion. If the community would prefer to have a vote for this sort of thing, then that is not my decision to make. Just wanted to throw my thoughts into the mix.

I agree with you that design is a specialized field and only professionals have the knowledge and training to recognize "good" design.
However, the currency symbol is for the eye of the masses. If a designer makes a great design according to his experience and a great majority of the community thinks it looks like sh*t, it doesn't fit to a product that aims for mass adoption. If you have enough voices of lay persons against/for a design within the community you can assume it's (approximately) the same oppinion as the rest of the world will have (excluding all other professionals ).

I agree. The best course of action is to have a designer create multiple symbols and have the people vote.


.....so, basically, what NEM did.

[gimre]

I would like to invite all of you to join in for choosing the NEM currency symbol http://forum.nemcoin.com/index.php?topic=2349.0.
What do you think about this one?

How about:

No, we should rather go with

[Hobbes2]

I would like to invite all of you to join in for choosing the NEM currency symbol http://forum.nemcoin.com/index.php?topic=2349.0.
What do you think about this one?
https://fbcdn-profile-a.akamaihd.net/hprofile-ak-xaf1/v/t1.0-1/1930652_49360033344_8810_n.jpg?oh=469a14a54dbfee954057ba120de72192&oe=545E7FAA&__gda__=1416390299_7cd32c0941fed4fcd4233e233d081713

How about: https://i.imgur.com/lKUVRdd.png

No, we should rather go with http://upload.wikimedia.org/wikipedia/en/7/75/Netscape_classic_logo.png

Why couldn't be this one
http://news.nemcoin.com/wp-content/uploads/2014/07/fan.jpg

[Doriangrayz]

such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

[amytheplanarshift]

such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Not weird, either just amateur investors, people who needed funds right away for some reason, or someone trying to manipulate the market. Typical stuff.

[dandruff1138]

such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...

[amytheplanarshift]

such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...

It's not THAT much higher than it was yesterday. 7500 to 8200 shouldn't be enough to cause people to dump a ton of NEMstake. If it had doubled, then maybe I'd understand.

[Doriangrayz]

such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...

what's the point to dump at 20% less than last buy for something that went up like 10%

[dewey556]

such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...

what's the point to dump at 20% less than last buy for something that went up like 10%

create a  small panic sell and buy back at 90% - 95% buy a silver coin with the profit

[mikesbmw]

Hi Guys,

I was going over some older stuff regarding purchasing NEM stakes on NXT AE and I saw this reply from Utopian:

"You can buy as many as you want but a cap of 2 million NEM (2 tokens) will be put on each account converting back to NEM. Explanation: if one account buys 40 NEMstake tokens then this amount has to be broken in to 20 separate accounts during the conversion process in both sending tokens and receiving NEM back. This will increase the conversion cost and management cost and hopefully put a dampener in the desire to have a lot of NEMtoken.

(https://bitcointalk.org/index.php?topic=616467.msg6971117#msg6971117)

What are those "conversion cost and management cost" and how high are they?

[patmast3r]

Hi Guys,

I was going over some older stuff regarding purchasing NEM stakes on NXT AE and I saw this reply from Utopian:

"You can buy as many as you want but a cap of 2 million NEM (2 tokens) will be put on each account converting back to NEM. Explanation: if one account buys 40 NEMstake tokens then this amount has to be broken in to 20 separate accounts during the conversion process in both sending tokens and receiving NEM back. This will increase the conversion cost and management cost and hopefully put a dampener in the desire to have a lot of NEMtoken.

(https://bitcointalk.org/index.php?topic=616467.msg6971117#msg6971117)

What are those "conversion cost and management cost" and how high are they?

I guess he was talking about the tx fees for splitting and then merging everything.

[mikesbmw]

Hi Guys,

I was going over some older stuff regarding purchasing NEM stakes on NXT AE and I saw this reply from Utopian:

"You can buy as many as you want but a cap of 2 million NEM (2 tokens) will be put on each account converting back to NEM. Explanation: if one account buys 40 NEMstake tokens then this amount has to be broken in to 20 separate accounts during the conversion process in both sending tokens and receiving NEM back. This will increase the conversion cost and management cost and hopefully put a dampener in the desire to have a lot of NEMtoken.

(https://bitcointalk.org/index.php?topic=616467.msg6971117#msg6971117)

What are those "conversion cost and management cost" and how high are they?

I guess he was talking about the tx fees for splitting and then merging everything.

Okay, those are peanuts. A few NXT and NEM. Cool! 

[rockethead]

such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...

what's the point to dump at 20% less than last buy for something that went up like 10%

create a  small panic sell and buy back at 90% - 95% buy a silver coin with the profit

You must be the one who bought one yesterday.

[rockethead]

Hi Guys,

I was going over some older stuff regarding purchasing NEM stakes on NXT AE and I saw this reply from Utopian:

"You can buy as many as you want but a cap of 2 million NEM (2 tokens) will be put on each account converting back to NEM. Explanation: if one account buys 40 NEMstake tokens then this amount has to be broken in to 20 separate accounts during the conversion process in both sending tokens and receiving NEM back. This will increase the conversion cost and management cost and hopefully put a dampener in the desire to have a lot of NEMtoken.

(https://bitcointalk.org/index.php?topic=616467.msg6971117#msg6971117)

What are those "conversion cost and management cost" and how high are they?

I guess he was talking about the tx fees for splitting and then merging everything.

Okay, those are peanuts. A few NXT and NEM. Cool! 

Also it is a "dampener", which means you will lose some sleep as well. ;-)

[mikesbmw]

Hi Guys,

I was going over some older stuff regarding purchasing NEM stakes on NXT AE and I saw this reply from Utopian:

"You can buy as many as you want but a cap of 2 million NEM (2 tokens) will be put on each account converting back to NEM. Explanation: if one account buys 40 NEMstake tokens then this amount has to be broken in to 20 separate accounts during the conversion process in both sending tokens and receiving NEM back. This will increase the conversion cost and management cost and hopefully put a dampener in the desire to have a lot of NEMtoken.

(https://bitcointalk.org/index.php?topic=616467.msg6971117#msg6971117)

What are those "conversion cost and management cost" and how high are they?

I guess he was talking about the tx fees for splitting and then merging everything.

Okay, those are peanuts. A few NXT and NEM. Cool! 

Also it is a "dampener", which means you will lose some sleep as well. ;-)

Nah, I won't lose any sleep over it. I am fully confident that NEM will rock!