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

[balu2]

on the one hand saying 'who missed deadline looses the stakes' and then turning around and saying "we must distribute them to more people" is inconsistent.

So what you want ? Distribute coins to people? So why cancel stakes of people who are late? You guys make no sense.

[1714800067]

1714800067

[1714800067]

1714800067

[Jaguar0625]

40 % is a bullshit number. Where is that even from ?

Why is it bullshit number? You already have 25% development stake. Why do you need 50% for the "development"? Plus all the BTC and Nxt collected during the IPO? Puer greed

I've never seen the 40% number before. It seems made up...

[nembit86]

on the one hand saying 'who missed deadline looses the stakes' and then turning around and saying "we must distribute them to more people" is inconsistent.

So what you want ? Distribute coins to people? So why cancel stakes of people who are late? You guys make no sense.

This

Ok...here we go again.....there has always been a call for participation to this movement. If you dont participate then you have no right to stay....a piddly donation was asked to participate at the start.

No decision has been made about unclaimed stakes as no-one knows for sure how many there will be.

[mrvegad]

on the one hand saying 'who missed deadline looses the stakes' and then turning around and saying "we must distribute them to more people" is inconsistent.

So what you want ? Distribute coins to people? So why cancel stakes of people who are late? You guys make no sense.

This

Ok...here we go again.....there has always been a call for participation to this movement. If you dont participate then you have no right to stay....a piddly donation was asked to participate at the start.

No decision has been made about unclaimed stakes as no-one knows for sure how many there will be.

So it was made clear to people before taking their payment that "If you dont participate then you have no right to stay"?
This is a real question as I don't know all the details.

[TaunSew]

Yeah let's give hackers unlimited time to compromise unclaimed stakes, such brilliant much genius such brains!

[balu2]

Yeah let's give hackers unlimited time to compromise unclaimed stakes, such brilliant much genius such brains!

it's a non-issue.
Just decouple unclaimed stakes from btctalk accounts and after deadline only let people claim stakes who can proove they control the private keys of the btc-adress that payd the fees back then. So there won't be an issue with having stakes unclaimed forever. No need to redistribute, burn or discuss. Unclaimed is unclaimed and nothing else. Coins unclaimed will keep status 'unclaimed' until they are claimed or they just stay unclaimed forever. My suggestion to clear up all this mambojambo in under 1 minute.

[CECVW]

the unclaimed stakes should be given to the people, US! more coins per stake that way we know where it goes

[kodtycoon]

Yeah let's give hackers unlimited time to compromise unclaimed stakes, such brilliant much genius such brains!

it's a non-issue.
Just decouple unclaimed stakes from btctalk accounts and after deadline only let people claim stakes who can proove they control the private keys of the btc-adress that payd the fees back then. So there won't be an issue with having stakes unclaimed forever. No need to redistribute, burn or discuss. Unclaimed is unclaimed and nothing else. Coins unclaimed will keep status 'unclaimed' until they are claimed or they just stay unclaimed forever. My suggestion to clear up all this mambojambo in under 1 minute.

ok let's say that was to happen? Who would want the responsibility to hold 100's of stakes indefinitely? What if that person became compromised? What if it was a dev and he actually dis getc hacked? Would you even want one person holding 10% of coins forever? Holding them indefinitely is never going to happen..

[fragout]

Yeah let's give hackers unlimited time to compromise unclaimed stakes, such brilliant much genius such brains!

it's a non-issue.
Just decouple unclaimed stakes from btctalk accounts and after deadline only let people claim stakes who can proove they control the private keys of the btc-adress that payd the fees back then. So there won't be an issue with having stakes unclaimed forever. No need to redistribute, burn or discuss. Unclaimed is unclaimed and nothing else. Coins unclaimed will keep status 'unclaimed' until they are claimed or they just stay unclaimed forever. My suggestion to clear up all this mambojambo in under 1 minute.

ok let's say that was to happen? Who would want the responsibility to hold 100's of stakes indefinitely? What if that person became compromised? What if it was a dev and he actually dis getc hacked? Would you even want one person holding 10% of coins forever? Holding them indefinitely is never going to happen..

That same argument could be put for the devs holding them for bounties etc.
I followed the nem forum thread on this subject and there are ideas a plenty. Tbh this should have been sorted well before now as everyone knew there would be unclaimed stakes.
 Personally I think the devs deciding to keep them on top of the 20% to promote NEM is going to cause more bad publicity if done at this late stage. I dont know what the best answer to the problem is either, but I suppose a community vote is the only way to show transparency without damaging the brand.

[kleeii]

What's happened with the NEM price ?
Someone is manipulating down.

[balu2]

ok let's say that was to happen? Who would want the responsibility to hold 100's of stakes indefinitely? What if that person became compromised? What if it was a dev and he actually dis getc hacked? Would you even want one person holding 10% of coins forever? Holding them indefinitely is never going to happen..

valid argument. That's why i'd be concerned about the safety of the dev-funds in particular I'd make longer option to claim stakes for people regardless and maybe burn unclaimed stakes spring/summer 2015

Ading coins to the dev-fund shouldn't be an option since 20% is already an outsized fund. For promo and giveaway 1% of supply is enough for years. Promo and giveaway can be driven with donations from community also, so you could burn 100% unclaimed later and in fact raise the value of the other coins a lot with this. Every coin burned (less total supply) raises the value of the other coins.
I think burning the remaining coins if it really with 100% certainty is unclaimed with no hope of ever being claimed is the way to save everyone hours of discussion and headaches.
Burning the coins that are certainly unclaimed is a loss for nobody in the end of the day and if done in a transparent manner will in fact cause a positive reaction in the markets. We have seen such things before.

So i'd suggest to make that redemption longer ... like months longer. Think about people who could be on vacation with no internet, those in hospital and so on. 1 month is not long enough for some people in some situations. Make it 6 months and burn remaining coins after that time saves discussion and creates no envy or bad public relations later.

Coldstorage for the time needs to be thought out and executed well. It is possible to have coins 100% secured even if 99,99% of people can't do it - it is possible. To protect the privkey you just need to be a paranoid with some skills

To protect against a keyperson becoming compomised you'd use multisig for sure.

pro-tip:
to protect from hacking you create wallets offline and store them in encrypted filecontainers on at least three offline-devices. No idea how that can be hacked.
Important privkeys never touch the net until actually needed for the first and last time (use once only)- that's what one calls 'secure coldstorage'

[cryptohunter]

on the one hand saying 'who missed deadline looses the stakes' and then turning around and saying "we must distribute them to more people" is inconsistent.

So what you want ? Distribute coins to people? So why cancel stakes of people who are late? You guys make no sense.

This

Ok...here we go again.....there has always been a call for participation to this movement. If you dont participate then you have no right to stay....a piddly donation was asked to participate at the start.

No decision has been made about unclaimed stakes as no-one knows for sure how many there will be.

So it was made clear to people before taking their payment that "If you dont participate then you have no right to stay"?
This is a real question as I don't know all the details.

that was NEVER made clear at the start, and is not the case with any other currency on the board. It's utter rubbish. Stakeholders should be entitled to it regardless of active participation within the community.

However there needs to be a time cut off limit. Their stakes should be held by some escrows for future claims.

It's not like the NEM project has gone smoothly to be fair..  Taking people shares away is not going to do the project any favours in the future. I would suggest a 6 month deadlline minimum if you don't want a lot of screaming and shouting when nem stakeholders find out they just lost their stakes by taking a few weeks out.

[tron666]

Could someone send me some nem to test?

TBZXHE-TD6AO6-PHSFZL-SZ7MWS-JEEI7C-EFCUC2-7Y7V

[rtstrx]

Could someone send me some nem to test?

TBZXHE-TD6AO6-PHSFZL-SZ7MWS-JEEI7C-EFCUC2-7Y7V

500k test nem for you.

[makoto1337]

IMPORTANT: jl777 needs help;

https://nxtforum.org/alternate-cryptocurrencies/nemstake-redemption/new/#new

EDIT: He already sold some stakes  

I can't say i really appreciate his attitude there -- and frankly i grew to expect more from him especially considering his conduct in other posts. I wonder what changed.

NEM is after all still Beta software, and such hiccups are bound to occur (In fact, odds are the problems he experience is some sort of java issue, not so much the client itself) yet he refuses to even help himself and just simply sell.

It seems to me that he's a man pressed for time and doesn't appreciate the redemption window period offered, so decided to just sell, while moaning about the redemption restrictions because it doesn't suit his schedule, lol.

He's a busy guy with lots of commitments. He's also not a Java dev and probably doesn't want to play around with security settings to get webstart working

I'm trying to see if we can use something like InstallAnywhere to make an easy installer or something.

[makoto1337]

If you guys can pull yourself away from a personal argument Can I make a suggestion for unclaimed stakes?

I recently have been impressed by NXTTY and see a massive potential for mobile messaging linked with cryptocurrency. Why not keep a good sized chunk separate so someone can create an app similar to NXTTY that uses NEM. You can air drop them into accounts or maybe people get a share when they download the app etc.

It's better than creating another currency ontop of NEM for an app like this and it has massive potential if popular to supercharge NEM and it's uptake.

Good idea?

I think it would be awesome to use unclaimed stakes in an investment fund to invest in a company to launch a suite of mobile apps. The company could then pay dividends to all people in the nemesis block.

[V500]

using unclaimed stakes devalues the rest of the coins. I am all for taking them permanently off the table (burning) to a) give a good signal to cryptoworld and b) make sure the nem i am holding are getting off the ground.

It's supply and demand that makes the price.

Higher supply + same or even lower demand = lower price

there's nothing to gain from potentially quenching demand by making supply higher (!)

[makoto1337]

so you smart guys made sure everyone who doesn't pay attention can't claim their stake, you keep up to 40% of coins 'for developement' and thus make the coin trustbased like ripple? Are you serious? I am gonna dump this shit ASAP.

If you can't destroy unclaimed stakes you're just a joke.
I say: either lift timelimit and let everyone claim as long as  they want OR destroy the unclaimed stakes but keeping up to 40% of supply in very few hands makes this coin trust-based and for that reason dramatically lowers the outlooks of it. No matter how shiny your shit is, it can't obscure what greedy bastards you are. You don't care about NEM or the project. Everyone is focused on personal gains. No other way to explain this redemption-process. Period.

Destroy stakes, let people claim longer or be called greedy pigs and lower outlooks of nem-project dramatically - pretty simple, like it or not.

NEM is a voluntary association. If people can't come around or check twitter/facebook once in a couple of months, they haven't really contributed much to us and shouldn't expect much in return.

[makoto1337]

so you smart guys made sure everyone who doesn't pay attention can't claim their stake, you keep up to 40% of coins 'for developement' and thus make the coin trustbased like ripple? Are you serious? I am gonna dump this shit ASAP.

If you can't destroy unclaimed stakes you're just a joke.
I say: either lift timelimit and let everyone claim as long as  they want OR destroy the unclaimed stakes but keeping up to 40% of supply in very few hands makes this coin trust-based and for that reason dramatically lowers the outlooks of it. No matter how shiny your shit is, it can't obscure what greedy bastards you are. You don't care about NEM or the project. Everyone is focused on personal gains. No other way to explain this redemption-process. Period.

Destroy stakes, let people claim longer or be called greedy pigs and lower outlooks of nem-project dramatically - pretty simple, like it or not.

Appears to me your minds made up - after all, we're already greedy bastards in your book.

lol. I didn't make up my mind. I just saw up to 40% unclaimed right now and then the other person saying 'this will be for promotion and developement'. I got nothing against nem or anyone. I am just straight up about stuff and say what i think.

If you fuck up distribution like that you take away a lot of its value, just sayin'. Maybe this has been overlooked. Better don't take up to 40% of supply for "developement and promo" if you don't want to destoy its public image.

I actually think you make a good argument, but resorting to insults is not a way to do it.

cut out the insults. Nothing personal. I am just the grumpy guy.  
Hope nobody got hurt too much  

You do what you want but i would recommend to not keep more than 10% of unclaimed stakes for 'dev and promo' to not screw it up. Best to destroy the biggest part of unclaimed coins so you don't have bad talk and bad promo because of that. See other alts that have bad distro. They never get past a certain point and tend to be more unstable. Also target of many trolls.

You are aware that you are breeding trolls by not allowing people to claim longer, are you? Let's say i am in hospital and can't claim stake. When i come back i am left with nothing. Fine. I am a troll now. So with cutting all those people off: prepare for trolls later

just my 2 cents

Current plan that hasn't been decided yet is to give devs 0% of unclaimed stakes. Instead, those stakes would be used to create a licensed investment fund that will pay dividends to everyone in the nemesis block. The fund would be a venture capital fund that gives money to companies using NEM, the same as any other venture capital fund would work.

[makoto1337]

Hello everyone, I got "NEM Token"
what do I do next to get my coins

?

Please help me

I received from patmast3r "Your token: XXXXXXXXXXXXXX"

Put it in here: https://chain.nem.ninja/stakes/