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

[patmast3r]

Why are people so psyched about november 22nd ?

Do you realize that this is only the current deadline for redemption. We don't launch on that day !

[nembit86]

So How will we receive our NEM silver again? I lost track of that free silver for every stake holder postings.

When the NEM asset exchange is launched, everyone will get an asset redeemable for a silver coin (sounds like the old US silver certificates, so in a way this is a second, silver-backed digital currency that is fully fungible; in essence everyone becomes a stakeholder in both currencies).

If only we could back up the whole Nem amount by Gold or Silver in some way.....even a 10 % backing should make it a very sought after type of money.......would we get the backing of all the Austrian Economists out there?

Oops.......thats what your saying right? As the value of the Nem currency rose....would we not have to purchase more silver to keep the backing at a specified % amount?.....

[patmast3r]

So How will we receive our NEM silver again? I lost track of that free silver for every stake holder postings.

When the NEM asset exchange is launched, everyone will get an asset redeemable for a silver coin (sounds like the old US silver certificates, so in a way this is a second, silver-backed digital currency that is fully fungible; in essence everyone becomes a stakeholder in both currencies).

If only we could back up the whole Nem amount by Gold or Silver in some way.....even a 10 % backing should make it a very sought after type of money.......would we get the backing of all the Austrian Economists out there?

Oops.......thats what your saying right? As the value of the Nem currency rose....would we not have to purchase more silver to keep the backing at a specified % amount?.....

All the gold and silver would marke the minimum value of NEM. The value could rise above it but not below it. There is already a crypto that has done that I think...can't remember the name right now.

[xibeijan]

Is it possible to use a real account and start harvesting?

[nembit86]

So How will we receive our NEM silver again? I lost track of that free silver for every stake holder postings.

When the NEM asset exchange is launched, everyone will get an asset redeemable for a silver coin (sounds like the old US silver certificates, so in a way this is a second, silver-backed digital currency that is fully fungible; in essence everyone becomes a stakeholder in both currencies).

If only we could back up the whole Nem amount by Gold or Silver in some way.....even a 10 % backing should make it a very sought after type of money.......would we get the backing of all the Austrian Economists out there?

Oops.......thats what your saying right? As the value of the Nem currency rose....would we not have to purchase more silver to keep the backing at a specified % amount?.....

All the gold and silver would marke the minimum value of NEM. The value could rise above it but not below it. There is already a crypto that has done that I think...can't remember the name right now.

Yes...Im just up after a night on the booze so Im not thinking too straight.......but an exploration of this idea of the Nem currency backed by silver could be a good idea.

[starfishi]

Why are people so psyched about november 22nd ?

Do you realize that this is only the current deadline for redemption. We don't launch on that day !

Yes, please, people, redeem your stakes before 22 nd, but launch-time of NEM-blockchain is still to be determined !
Redeem now, launch-time a little later !! Not really complicated ! Damn !
 

[TaunSew]

eGold is a good example as to why it is difficult to have a crypto currency backed by a precious metal - tempting raid target once you get too big.


A safer alternative, although not quite the same, would be to have a coin backed by a redeemable silver & gold token that is recognized by a third entity.  Especially if this token acquires value itself then more third party gold and silver dealers would recognize it too.

[nembit86]

eGold is a good example as to why it is difficult to have a crypto currency backed by a precious metal - tempting raid target once you get too big.


A safer alternative, although not quite the same, would be to have a coin backed by a redeemable silver & gold token that is recognized by a third entity.  Especially if this token acquires value itself then more third party gold and silver dealers would recognize it too.

Do you think we should discuss this matter mre fully on the forum?

[starfishi]

eGold is a good example as to why it is difficult to have a crypto currency backed by a precious metal - tempting raid target once you get too big.


A safer alternative, although not quite the same, would be to have a coin backed by a redeemable silver & gold token that is recognized by a third entity.  Especially if this token acquires value itself then more third party gold and silver dealers would recognize it too.

Do you think we should discuss this matter mre fully on the forum?

Yes, but explore that in a new thread please, i´m courious , just not here !

[starfishi]

eGold is a good example as to why it is difficult to have a crypto currency backed by a precious metal - tempting raid target once you get too big.


A safer alternative, although not quite the same, would be to have a coin backed by a redeemable silver & gold token that is recognized by a third entity.  Especially if this token acquires value itself then more third party gold and silver dealers would recognize it too.

Do you think we should discuss this matter mre fully on the forum?

Yes, but explore that in a new thread please, i´m courious , just not here !

Redemption ends on 22 November, remember ? That was the thread . . 22. Nov., Bump !

[NOjust]

Why are people so psyched about november 22nd ?

Do you realize that this is only the current deadline for redemption. We don't launch on that day !

Yes, please, people, redeem your stakes before 22 nd, but launch-time of NEM-blockchain is still to be determined !
Redeem now, launch-time a little later !! Not really complicated ! Damn !
 

it is Ok for us to wait ,
we are waiting for more then half year, never mind more little time.

[nembit86]

https://forum.nemcoin.com/index.php?topic=2685.0   NEM backed by Silver/ Gold ?

[rockethead]

Guys at the moment, looking at the AE, price of one NEM is 150 satoshis. When we start trading on exchanges, upon the launch, will we beat this price or the price will be lower?

I would like to hear opinions since I am thinking should I buy a NEMStake now, or wait the launch. Please keep in mind that there will be a lot of people who will dump their stakes upon the launch. If the price will be 150 satoshis, this will be an easy 1,5 BTC for them. This will surely drive the price down and let's face it, there are people like that, who are just looking for the easy money, moreover since they invested hardly nothing. There are many coins that were more expensive on IPO than after launch. Also I think that price drop is inevitable, BTSX dropped over 50% from the launch price before it started going up.

Another thing in mind is that there are 4B NEMs to 1B NXT. This would put a price of 1 NEM to the 600 satoshis launch price comparing to NXT, since there are 4 times more coins. Anybody remembers the price of 1 NXT when it hit the exchenges upon the launch? Is this 600 satoshis to much for NEM to beat?

Feature wise, looking at NXT at the moment there is just coin sending, better distribution and POA algorithm that is making forging fairer. All other feats are just promises.

I am not trying to spread FUD, just trying to think in advance, invest, and hear other peoples' opinions.

At every launch, consistent with both stocks and cryptos, price will drop and then take a hockey stick turnaround. This is considered a norm.

Nxt was launched at a price of 1.5 cts. before falling to a low of about 0.37 cts. Subsequently, over three weeks, it went to 7.2cts. Prices were pegged to BTC. In BTC terms, it was launched at about 0.000014 and dropped to a low of about  0.000004 BTC before rising to 0.000098 BTC.

Nxt started with something that is less of what NEM is starting at. At that time AE was also a promise. Hence on a level playing field, NEM is starting off with multisig, the first built in wallet for a crypto, PoI, the first most evenly distributed mining or harvesting. Hence NEM has two firsts.

For a price prediction go here: https://forum.nemcoin.com/index.php?topic=2459.msg9488#msg9488

This is  matter of conjecture and is by no means what it will turn out to be. It may be better or it may be worse.

Thanks for the link, I read your numbers and with the all due respect, I think you are shooting way too high price wise. Price of 1800 satoshis at the launch with the supply of 8,888 B coins would put a market cap of close to $60 million. That is number 4 coin on coinmarketcap. And then a peak of 6000 satoshis would put it in a second place easily just behind the Bitcoin.

I think this is too high, especially since the crypto space got very saturated and we are in a very downward phase last 9 months. Look at the price of all the alts, they are going down as crazy. Also BTC is going down for 9 months almost. Don't forget that NXT got launched in a perfect time, when BTC was at the all time high at around a $1000 and new money was pouring in into cryptos.

Hence, sorry but your numbers are very too optimistic. I would be happy if NEM launches at 200 satoshis and then looses 50% of its value because of the dumps to 100 satoshis before it takes an upward again.

If it was last year, Pearson Correlation would have suggested $150million. The values are based on pegging to the BTC not on the fiat $. So, if BTC is $1000, then it would be $150m. If it is $400 then, it would be $60m. This is based on the graph and therefore highly academic but still the Pearson Correlation appears to be saying that based on today's prices not last year's. The prediction is based on all the real live numbers plugged in with NEM dotted in there. Unless NEM is very inferior to the rest, then this valuation may not happen. All things equal, the Pearson Correlation is suggesting a very high coefficient, meaning, the chances of it happening is 86.7%.

Two factors that may influence it not to happen as "planned" of course is that the NS have already been traded in the AE and it would have "stabilized" the value of the coin somewhat. This is a factor where none of the other coins had the same pre-listing path. The other thing is, like you said, saturation.

Having said that, stellar did a stellar performance.

Coinmarket cap is not reflecting all the coins of XRP and Stellar. If they do then Ripple would have been worth $0.5B. Go here: http://bravenewcoin.com/price/price-index/ and look at the BNC 2.0 tab. Also you will note that Nxt was momentarily (i.e., at its peak) at about $86m in its initial days, which put them third or fourth in the list.  

So, there is a high chance of NEM going to that because of its high number of coins. It may not hit $60m, and it may end up $40m. It may not hit a peak of $135m but could hit $100m. Anyway, it is not up to us to say it is impossible. We can only make conclusions based on actual events and mathematics. It is still very much a conjecture with a rational approach. That's all.

Edit: Pearson Correlation "shot" it high. Not me. I am merely using the formula to come to a conclusion.

OK, you got me thinking here  The only thing is that crypto very often doesn't follow logic(math in this case). 

Pearson correlation is supposed to take illogical mass behavior and correlate that mathematically.

[aswritt]

 Is NEM turning into a scam?
 Definitely there are signs of that

Investors should be very careful with big changes. When reading these comments, ther is no doubt that cons can be very intelligently planned and they are so complex , that noone can foresee it coming.

http://blog.bluemeanie.net/2014/10/nxtautodac-jl777-stolen-nxt.html
   ...worried ...  insiders .....  NEM ....scam... Dark market...real crimes...ponzi...



if I were a conman , I wanted to take everything before the real game starts and then shoot my own leg  and leave the pitch .
You can hear laugh when walking inthe bank.

[Isotrop]

Unfortunately I have a serious problem with accessing NEM Wallet, no matter if the standalone-version or browser-based. I am sure it is caused by my windows settings or by not sufficient equipped Java-components. NCC is starting, but NIS stuck always I try, giving an error like "unable to start application".
I have JavaUpdate 8.0.250 installed. Do I need more to run NIS? Or are there some specific system/browser settings I have to care about?

any suggestions would be much appreciated

Maybe there is already an instance of NIS running like Rockethead suggested. Can you pm me the NIS logs (located in c:\users\<your user name>\nem\nis\logs on windows and home/nem/nis/logs on linux systems)?

I need to pick up yesterdays request for help again, because I still was not able to bring my wallet to work, sorry.
Can someone please have a look to these error-messages:
http://imagize[Suspicious link removed]ageshack.us/a/img673/4831/A4wM06.jpg
http://imagize[Suspicious link removed]ageshack.us/a/img540/2456/jvEpDs.jpg

I think Java says that NIS created smth like "unsigned entry". Looks to me that this is excactly the problem I have when starting NIS...

EDIT: hmmm, ok, imageshack seem to be suspicious for BTT-Forum. Which upload service is ok for showing pictures here?

[rockethead]

Unfortunately I have a serious problem with accessing NEM Wallet, no matter if the standalone-version or browser-based. I am sure it is caused by my windows settings or by not sufficient equipped Java-components. NCC is starting, but NIS stuck always I try, giving an error like "unable to start application".
I have JavaUpdate 8.0.250 installed. Do I need more to run NIS? Or are there some specific system/browser settings I have to care about?

any suggestions would be much appreciated

Maybe there is already an instance of NIS running like Rockethead suggested. Can you pm me the NIS logs (located in c:\users\<your user name>\nem\nis\logs on windows and home/nem/nis/logs on linux systems)?

I need to pick up yesterdays request for help again, because I still was not able to bring my wallet to work, sorry.
Can someone please have a look to these error-messages:
http://imagize[Suspicious link removed]ageshack.us/a/img673/4831/A4wM06.jpg
http://imagize[Suspicious link removed]ageshack.us/a/img540/2456/jvEpDs.jpg

I think Java says that NIS created smth like "unsigned entry". Looks to me that this is excactly the problem I have when starting NIS...

EDIT: hmmm, ok, imageshack seem to be suspicious for BTT-Forum. Which upload service is ok for showing pictures here?

Go offline. Open up firewall and take away all securities and fire up again. See if NIS can fire up or not.

[aswritt]

Is NEM turning into a scam?
 Definitely there are signs of that

Investors should be very careful with big changes. When reading these comments, ther is no doubt that cons can be very intelligently planned and they are so complex , that noone can foresee it coming.

http://blog.bluemeanie.net/2014/10/nxtautodac-jl777-stolen-nxt.html
   ...worried ...  insiders .....  NEM ....scam... Dark market...real crimes...ponzi...



if I were a conman , I wanted to take everything before the real game starts and then shoot my own leg  and leave the pitch .
You can hear laugh when walking inthe bank.

Has Jeff Garzik commented NEM ...like https://www.cryptocoinsnews.com/bitcoin-core-developer-jeff-garzik-believes-nxt-is-a-scamcoin
article contains a check list. How many NEM gets out of nine?

[Simakki]

Is NEM turning into a scam?
 Definitely there are signs of that

Investors should be very careful with big changes. When reading these comments, ther is no doubt that cons can be very intelligently planned and they are so complex , that noone can foresee it coming.

http://blog.bluemeanie.net/2014/10/nxtautodac-jl777-stolen-nxt.html
   ...worried ...  insiders .....  NEM ....scam... Dark market...real crimes...ponzi...



if I were a conman , I wanted to take everything before the real game starts and then shoot my own leg  and leave the pitch .
You can hear laugh when walking inthe bank.

Has Jeff Garzik commented NEM ...like https://www.cryptocoinsnews.com/bitcoin-core-developer-jeff-garzik-believes-nxt-is-a-scamcoin
article contains a check list. How many NEM gets out of nine?

Could you just fuck off?  Pure FUD and nonsense.

[fragout]

Yes, we will be selling these for NEM. There's also a gold coin, too!

Additionally, we will probably end up giving a NEM silver coin to every stake holder in the nemesis block! A crypto first!

https://forum.nemcoin.com/index.php?topic=2667.0

After reading some of the thread on the NEM forum, are these silver coins being sold at cost or is there profit taking going to AltNemo ?
What will happen to the stakes that are converted to Nem silver on the AE?

Coins will be sold with a bulk discount, close to cost.

It is a lot of work to mint the coins. A holding company has to be created in Singapore and then that company has to handle all the money and deal with the mint (the Perth Mint won't deal with individuals), then handle attaching the cold wallets and shipping.

The goal, at least for me promoting this idea, is not to raise money for AltNemo, but to creating something of lasting value for all nemsters to own. Plus I think it will really help NEM in the future with marketing, etc. No other altcoin is even close to minting bullion coins at a quality mint and then sending them to everyone for free.

Thanks for clearing that up. You guys seem to be doing everything right. I too think its a great marketing idea and could also be used in the future to send a few coins out to various news outlets.

[TaunSew]

Is NEM turning into a scam?
 Definitely there are signs of that

Investors should be very careful with big changes. When reading these comments, ther is no doubt that cons can be very intelligently planned and they are so complex , that noone can foresee it coming.

http://blog.bluemeanie.net/2014/10/nxtautodac-jl777-stolen-nxt.html
   ...worried ...  insiders .....  NEM ....scam... Dark market...real crimes...ponzi...



if I were a conman , I wanted to take everything before the real game starts and then shoot my own leg  and leave the pitch .
You can hear laugh when walking inthe bank.

Has Jeff Garzik commented NEM ...like https://www.cryptocoinsnews.com/bitcoin-core-developer-jeff-garzik-believes-nxt-is-a-scamcoin
article contains a check list. How many NEM gets out of nine?

Could you just fuck off?  Pure FUD and nonsense.

The math also doesn't account for it.  NEM distribution had 1200+ veteran accounts on Bitcointalk back in March 2014.  If those 1200 had 1800 socks then it is still an initial distribution of 1200 which is better than the initial distribution of Bitcoin and every other alternate.