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

[jasemoney]

Quick question, what is stopping all those who received their stakes for free from dumping? In my opinion, there will be a MEGA dump after everyone receives their stakes.

Nothing at all, but if there is going to be a "MEGA DUMP" like you say, why would they wait until launch to do that? Anyone could request a stake on the NXT AE and dump there if they wanted to. Why would someone who only wants to dump be waiting until launch to do so? I don't think there will be any sudden, excessive dumping at launch because it's not like those stakes have all been "locked up" until now. NEM has effectively been on the free market for months now.

Can anyone request a stake on the NXT AE? The basis of my opinion is the fact that the supply of stakes will be increased from 775 to 4000, and all those who will be receiving new stakes will receive those for free. Those who receive them for free will most definitely look to dump, as they are basically being handed $800 (at the current price) for free. This mentality has plagued all the "free distribution coins" of past such as ShareCoin, CommunityCoin etc. Admittedly those are shitcoins, but the concept remains the same.

I honestly do not think that the price will remain the same during this launch period. I'm trying to keep an open mind on this, so someone try to convince me that my opinion is wrong .

set a low buy and your golden, it'll be like bitshares releases. opens nominal, dumpes for a week, by then anyone looking for the quick cash is out and the price goes back to normal and rises.  look at price of DNS released this week. opened ~400, dumped down below 200 for days, back up to 300. only thing you needed to get DNS was to hold PTS.. handouts!

[TaunSew]

Quick question, what is stopping all those who received their stakes for free from dumping? In my opinion, there will be a MEGA dump after everyone receives their stakes.

Nothing at all, but if there is going to be a "MEGA DUMP" like you say, why would they wait until launch to do that? Anyone could request a stake on the NXT AE and dump there if they wanted to. Why would someone who only wants to dump be waiting until launch to do so? I don't think there will be any sudden, excessive dumping at launch because it's not like those stakes have all been "locked up" until now. NEM has effectively been on the free market for months now.

What's stopping me from dumping?  If I recalled I paid like $6.50 something for my NEMstake.  Could had dumped months ago on the AE.  This is the case for most of the 3000 stakeholders who paid some amount between $2-$50.  Most of the 700-something claimed tokens were never put on the market but were claimed for security reasons.

I rationalize it as differently.  I paid almost no principle (like a Bitcoin buyer in 2009) and thus I have no principle to worry about recovering and thus no incentive to "cut my losses".  Multiply  that by 3000 and you get a lot of stability.  That's why Bitcoin, despite the chaos, has some stability too (due to all the 2009 / 2010 people who are still holding).

When did you buy your NEMStake? The lowest the price had been was around 14,000 NXT per NEMStake, and that was back when NXT's price was double what it currently is.

Call for participation,
NEMstake was initially given away for trivial amounts (like Bitcoin in 2009) but now it's $1000-ish per stake.

[Wulfcastle]

Quick question, what is stopping all those who received their stakes for free from dumping? In my opinion, there will be a MEGA dump after everyone receives their stakes.

Nothing at all, but if there is going to be a "MEGA DUMP" like you say, why would they wait until launch to do that? Anyone could request a stake on the NXT AE and dump there if they wanted to. Why would someone who only wants to dump be waiting until launch to do so? I don't think there will be any sudden, excessive dumping at launch because it's not like those stakes have all been "locked up" until now. NEM has effectively been on the free market for months now.

What's stopping me from dumping?  If I recalled I paid like $6.50 something for my NEMstake.  Could had dumped months ago on the AE.  This is the case for most of the 3000 stakeholders who paid some amount between $2-$50.  Most of the 700-something claimed tokens were never put on the market but were claimed for security reasons.

I rationalize it as differently.  I paid almost no principle (like a Bitcoin buyer in 2009) and thus I have no principle to worry about recovering and thus no incentive to "cut my losses".  Multiply  that by 3000 and you get a lot of stability.  That's why Bitcoin, despite the chaos, has some stability too (due to all the 2009 / 2010 people who are still holding).

When did you buy your NEMStake? The lowest the price had been was around 14,000 NXT per NEMStake, and that was back when NXT's price was double what it currently is.

Call for participation,
NEMstake was initially given away for trivial amounts (like Bitcoin in 2009) but now it's $1000-ish per stake.

Ah okay.

[nembit86]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense but fair competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

[jabo38]

The one thing the niggles me is the staggering amount of unclaimed stakes. I tend to think these belong to Chinese accounts. It was decided by the owners of nem that i month was it so i suppose thats it then.

Just something that happens.  NODE had like over 200 unclaimed stakes from a pool of 900-something.  These were given like 5 months to provide an wallet ID and despite updates and even some PMs didn't follow through.   What they did was give more coin to existing stakeholders and then did a controversial fire auction which created dolphins who then proceeded to dump (not the way to go).

You really think these 1000 or 800 stakes might all be Chinese?  I strongly doubt it.  I think a lot of them were just random people off the internet who were like "It only costs the equivalent of a lunch" but completely forgot by June (asset exchange) never mind October.

Surely they aren't all Chinese.  Definitely not 1000.  

But we do know there are many Chinese that are blocked out and many Nemsters are Chinese and that is a problem.  Not sure how to handle it.  I would like to see something set up fairly.  

I think TaunSew is right that many of the people were investors who thought it was cheap and forgot about it.  Maybe they left the whole bitcoin scene all together.  Since the NEM IPO, the price of Bitcoin has only gone lower and lower.  I can see how some people just sold off all their bitcoins and forgot about NEM.  

Then there are the sock puppets that the puppet masters lost control of.  The puppet masters make sock puppets and then forget where they put the passwords or even accidentally delete them.  

I know it would be a ton of work, but I was wondering if like two weeks before the deadline is up that another message might be sent to all the members who haven't claimed their stake.  Wiser mentioned an email with more information might be helpful and I agree.  

As of right now we can know that the launch isn't going to be until November sometime, so that still gives people a lot of time to check in.  

I am okay with stakes being held for a short time after launch, but only a short time.  Launches will make a lot of buzz, and maybe the information will get to some of our lost Chinese friends and they will find their way back.  But after a short time after launch, I think the NEMs need to be reallocated in a manner that is very clean and transparent to the community.  

[dandruff1138]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

[jabo38]

Quick question, what is stopping all those who received their stakes for free from dumping? In my opinion, there will be a MEGA dump after everyone receives their stakes.

Nothing at all, but if there is going to be a "MEGA DUMP" like you say, why would they wait until launch to do that? Anyone could request a stake on the NXT AE and dump there if they wanted to. Why would someone who only wants to dump be waiting until launch to do so? I don't think there will be any sudden, excessive dumping at launch because it's not like those stakes have all been "locked up" until now. NEM has effectively been on the free market for months now.

I think a lot of dumping already happened on the NXT asset exchange too. 

I think there will be some more dumping at Genesis though of course, but in someways I think that is good because many other people who aren't in NEM will hopefully get in for cheap. 

I am in NEM for the long haul so even if NEM drops 10x what it is at now, it is okay with me, especially since I am planning on it going up 1000x after that.

[jabo38]

Quick question, what is stopping all those who received their stakes for free from dumping? In my opinion, there will be a MEGA dump after everyone receives their stakes.

Nothing at all, but if there is going to be a "MEGA DUMP" like you say, why would they wait until launch to do that? Anyone could request a stake on the NXT AE and dump there if they wanted to. Why would someone who only wants to dump be waiting until launch to do so? I don't think there will be any sudden, excessive dumping at launch because it's not like those stakes have all been "locked up" until now. NEM has effectively been on the free market for months now.

What's stopping me from dumping?  If I recalled I paid like $6.50 something for my NEMstake.  Could had dumped months ago on the AE.  This is the case for most of the 3000 stakeholders who paid some amount between $2-$50.  Most of the 700-something claimed tokens were never put on the market but were claimed for security reasons.

I rationalize it as differently.  I paid almost no principle (like a Bitcoin buyer in 2009) and thus I have no principle to worry about recovering and thus no incentive to "cut my losses".  Multiply  that by 3000 and you get a lot of stability.  That's why Bitcoin, despite the chaos, has some stability too (due to all the 2009 / 2010 people who are still holding).

When did you buy your NEMStake? The lowest the price had been was around 14,000 NXT per NEMStake, and that was back when NXT's price was double what it currently is.

Call for participation,
NEMstake was initially given away for trivial amounts (like Bitcoin in 2009) but now it's $1000-ish per stake.

Ah okay.

I paid $30 and wasn't tempted at all to sell for $1000 on the AE.

[patmast3r]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

They can pm me and I'll gladly explain to them that investing and never checking in doesn't work. Fair disitribution doesn't mean we're going to drive home to everyone asking them to please have the decency to take those 1000 $ we're offering them.

[nembit86]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

I wont give my contact information but if Pat wants to delegate that matter to me then I will do it...sure...

[vfilchef]

All successfuly registered people: https://chain.nem.ninja/stakes/registered
Hope this helps.

Thank you very mach @patmast3r for your and all dev team hard work.

[TaunSew]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

They can pm me and I'll gladly explain to them that investing and never checking in doesn't work. Fair disitribution doesn't mean we're going to drive home to everyone asking them to please have the decency to take those 1000 $ we're offering them.

 This does $1000 come with a T-Shirt and free chocolate mints?  Maybe even a song and dance "Your NEM!  Your NEM!  P-O-I! P-O-I. . have some NEM... buy some NEM... NEM TIME!", you can have of those confetti launchers shooting off.

https://www.youtube.com/watch?v=u6EaJ7kvBHg

[dandruff1138]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

They can pm me and I'll gladly explain to them that investing and never checking in doesn't work. Fair disitribution doesn't mean we're going to drive home to everyone asking them to please have the decency to take those 1000 $ we're offering them.

This does $1000 come with a T-Shirt and free chocolate mints?  Maybe even a song and dance "Your NEM!  Your NEM!  P-O-I! P-O-I. . have some NEM... buy some NEM... NEM TIME!", you can have of those confetti launchers shooting off.

Did those stake holders give you money or are they getting those stakes for free? Maybe they did "check in" the first 2-3 times this coin was delayed?

I am here and getting my coins so it is of no pain to me what happens, but it sure seems wrong to not at least refund their initial investment if there was one.

[TaunSew]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

They can pm me and I'll gladly explain to them that investing and never checking in doesn't work. Fair disitribution doesn't mean we're going to drive home to everyone asking them to please have the decency to take those 1000 $ we're offering them.

This does $1000 come with a T-Shirt and free chocolate mints?  Maybe even a song and dance "Your NEM!  Your NEM!  P-O-I! P-O-I. . have some NEM... buy some NEM... NEM TIME!", you can have of those confetti launchers shooting off.

Did those stake holders give you money or are they getting those stakes for free? Maybe they did "check in" the first 2-3 times this coin was delayed?

I am here and getting my coins so it is of no pain to me what happens, but it sure seems wrong to not at least refund their initial investment if there was one.

Who said there wouldn't be a refund?   Many countless people have been refunded when they couldn't follow instruction (like sending funds from an exchange when it was prohibited)

They'll probably be refunded but they'ld have to prove who they are.  As we saw with Stellar a lot of people try to scam, hack and lie just for $10.  

[nembit86]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

They can pm me and I'll gladly explain to them that investing and never checking in doesn't work. Fair disitribution doesn't mean we're going to drive home to everyone asking them to please have the decency to take those 1000 $ we're offering them.

 This does $1000 come with a T-Shirt and free chocolate mints?  Maybe even a song and dance "Your NEM!  Your NEM!  P-O-I! P-O-I. . have some NEM... buy some NEM... NEM TIME!", you can have of those confetti launchers shooting off.

Just clicked on the Kkot song link that you put up and now I have to play it over and over again.....my 2 year old son keeps saying.  ...again dada....again dada......he likes it....lol...

[Doriangrayz]

Do you really think Chinese don't know about Vpn's? Cmon guys...
About hacked, stolen & lost accounts, really this is getting boring...i start to think this is just some bs to get some free stakes.
Anyway if You lost your account it's your fault. Devs should focus on more important stuff!

[patmast3r]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

They can pm me and I'll gladly explain to them that investing and never checking in doesn't work. Fair disitribution doesn't mean we're going to drive home to everyone asking them to please have the decency to take those 1000 $ we're offering them.

This does $1000 come with a T-Shirt and free chocolate mints?  Maybe even a song and dance "Your NEM!  Your NEM!  P-O-I! P-O-I. . have some NEM... buy some NEM... NEM TIME!", you can have of those confetti launchers shooting off.

Did those stake holders give you money or are they getting those stakes for free? Maybe they did "check in" the first 2-3 times this coin was delayed?

I am here and getting my coins so it is of no pain to me what happens, but it sure seems wrong to not at least refund their initial investment if there was one.

There was a refund period and some people did get refunded.
Would you like to point me to the point in time where NEM was delayed multiple times ?

You know it's obvious you have an aversion towards NEM. Why don't you just leave ?

[dandruff1138]

We are playing like broken records.  I already said other coins had a cut off and it didn't result in any controversy.  You snooze you lose.  We already have Chinese NEMsters who've commented on here and on the NEM forum after China blocked BTT.

 Before China blocked BTT there were other coins where many people missed distributions, like those 14 people in NXT (IIRC) or the 200 in NODE

"You snooze you lose..." Wow how New Economy Movement of you.

The New Economy Movement will not make it EASY for everybody. Just sitting back and expecting everything to go great for you just doesnt work. Intense competition is a pre-requisite to an overall healthy economy. Progress can be made under intense competition but there are winners and losers, thats life and the guys that sit on their fat asses and do nothing are usually the losers.

Can we have your contact information to forward to the first person that comes here and finds his stake was given away? We need someone to at least answer to those people if it happens. I assume that would be you?

They can pm me and I'll gladly explain to them that investing and never checking in doesn't work. Fair disitribution doesn't mean we're going to drive home to everyone asking them to please have the decency to take those 1000 $ we're offering them.

This does $1000 come with a T-Shirt and free chocolate mints?  Maybe even a song and dance "Your NEM!  Your NEM!  P-O-I! P-O-I. . have some NEM... buy some NEM... NEM TIME!", you can have of those confetti launchers shooting off.

Did those stake holders give you money or are they getting those stakes for free? Maybe they did "check in" the first 2-3 times this coin was delayed?

I am here and getting my coins so it is of no pain to me what happens, but it sure seems wrong to not at least refund their initial investment if there was one.

There was a refund period and some people did get refunded.
Would you like to point me to the point in time where NEM was delayed multiple times ?

You know it's obvious you have an aversion towards NEM. Why don't you just leave ?

I love NEM, I don't like the idea of the deadline to claim stakes.

[dandruff1138]

Do you really think Chinese don't know about Vpn's? Cmon guys...
About hacked, stolen & lost accounts, really this is getting boring...i start to think this is just some bs to get some free stakes.
Anyway if You lost your account it's your fault. Devs should focus on more important stuff!

Many people missed NXT distribution, despite registering, and this also occurred with many many coins.   Heck there were probably people back in 2009 / 2010 who got free BTC (even large amounts in the 100s and 1000s) and ignored it.


I think it was decided long ago what should be done with unclaimed stakes and the consensus was largely the same, so it's not really up to discussion anymore.  You yelling what you want, and how it is unfair that you're not getting it,  isn't a discussion.  This is the case of a vocal minority who apparently wants free or cheap stakes.

Point taken. I will just be satisfied our opinion was heard. Thanks.

[xtester]

I think this whole discussion is becoming a huge distraction. We will have another discussion with the dev team and try to come up with a plan or a solution regarding the unclaimed stakes problem.

Let's not get carried away and forget that beta and official launch are pretty close now. Both the dev team and marketing team are working to prepare some good stuff for the launch. As for dumps and other stuff, I think people will get a good idea what NEM is all about once we start delivering.