What NEM has to offer?

[Canaanite]

I see there is quite a lot of hype around NEM - NEMstake (maybe its because I spend too much time in the NXT community: ).
But I cant understand what it has to offer that no other coin have?
What make's people believe in it rather than NXT or any other POS coin?

I couldn't find what i'm looking for in http://www.ournem.com/ which is very a pretty website but has lack of information inside it

[mrvegad]

first NEM isn't pos, it's POI, something new.

Did you see this link at ournem.com http://www.ournem.com/links-1/?

[Canaanite]

first NEM isn't pos, it's POI, something new.

Did you see this link at ournem.com http://www.ournem.com/links-1/?

Thanks, I found my info...
Needed to search more

[Slaphead]

first NEM isn't pos, it's POI, something new.

Did you see this link at ournem.com http://www.ournem.com/links-1/?

What's POI explained in really dummied down terms?

[crackerhead]

first NEM isn't pos, it's POI, something new.

Did you see this link at ournem.com http://www.ournem.com/links-1/?

What's POI explained in really dummied down terms?

PoI:
It takes into account your account balance (Like PoS), but it also uses many other factors besides account balance. It examines how helpful you are for the network, such as how many transactions you make. It also takes into account many other things, and a lot of time has been put into the algorithm to make sure it isn't gameable.

PoI will give incentive to use your NEM, rather than just to sit on it.
Exact definitions of how PoI works I'm sure will be made public at a later time.

[Magic8Ball]

Revolutionary PoI. Arguably better than vanilla PoS, and might be better than TF iitself, though that can not be claimed now.

Good distribution: Even with sockpuppets, it was distributed amongst over thousand different individuals, rather than a handful few like NXT.

Active community: Follows from the above. With a lot of stake holders, there is a lot many trying to help with this.

[Slaphead]

When's it going to be released?

[Magic8Ball]

When's it going to be released?

Suggested around Septmeber. Development like these always overshoot deadlines, so keep that in mind. Though alpha has been going on smoothly.

It will be a great product when it launches, looking forward to it.

[dandruff1138]

When's it going to be released?

Suggested around Septmeber. Development like these always overshoot deadlines, so keep that in mind. Though alpha has been going on smoothly.

It will be a great product when it launches, looking forward to it.

I think it is great but, and people will argue this, the supply is 4,000,000,000! That is a pretty big supply. It is currently valued by stake prices at around 300-400 sats per nem. For as coin that hasn't released yet that is some very prideful and wishful thinking. I just do not see what NEM can do that no other coin can do, little inoovation unlike NXT and BTC which have a strong economy, nor do I see it filling a community niche like DOGEcoin and reddCoin. Anonymity is all the rage right now but it seems to be a gimmick.

So what does nem have to offer? Unless you have a crystal ball no one knows, but nothing leads me to believe it is anything longterm like the other coins I have listed at this time. Although, I hope I am wrong and will eat some crow. I think this is a wait and see coin.

[mrvegad]

NEM isn't POW or POS it's POI - Proof Of Importance.  It encourages spending and not hoarding.

[rabbiter]

Stop with the misinformation.

It was a POS distribution which is all that matters. I sent in BTC and I got a stake, that's all.

POI, proof of idiocy? that's just for forging it's a tiny percentage in reality.

[Godye Scaro X9]

Stop with the misinformation.

It was a POS distribution which is all that matters. I sent in BTC and I got a stake, that's all.

POI, proof of idiocy? that's just for forging it's a tiny percentage in reality.

PoS means that the coins you stake allow you to solve blocks and get more coins. The more coins you stake, the more coins you get. It is the stakers (as opposed to miners in PoW) who keep the network alive and functioning. I'm not sure about PoI since I've never heard of it before, but it seems to be some variation of PoS. Peercoin has minting, Nxt has transparent forging, Qora probably has something else along the same lines of Nxt, BitShares has another variation of PoS which I forgot the name of delegated proof of stake, and NEM has proof of importance.

[nextgencoin]

Stop with the misinformation.

It was a POS distribution which is all that matters. I sent in BTC and I got a stake, that's all.

POI, proof of idiocy? that's just for forging it's a tiny percentage in reality.

PoS means that the coins you stake allow you to solve blocks and get more coins. The more coins you stake, the more coins you get. It is the stakers (as opposed to miners in PoW) who keep the network alive and functioning. I'm not sure about PoI since I've never heard of it before, but it seems to be some variation of PoS. Peercoin has minting, Nxt has transparent forging, Qora probably has something else along the same lines of Nxt, BitShares has another variation of PoS which I forgot the name of delegated proof of stake, and NEM has proof of importance.

my point is to pull away from the idea of it being a POS coin when everyone references POS coins as related to distribution and not really forging it's misleading.

Yes forging might have some great algorithm but so does Qora, but honestly no one ever will get rich forging it's most like interest on a bank account. 

[devphp]

NEM isn't POW or POS it's POI - Proof Of Importance.  It encourages spending and not hoarding.

Encouraging spending by raising your Importance if you spend is an artificial measure. Will it work? We'll see, some time in a few months when NEM has been released to live network and most nasty bugs have been worked out. Artificial measures have to fight free market natural forces, usually free market wins in the long run, but maybe this time it's different.

As for the price of NEM, my take on it is those who wanted to buy it already did, those who buy value and seek to buy under market will wait till many of those initial stakeholders dump (and they will dump, there will be a lot of impatient ones among them just like in any investment).

[Canaanite]

From this thread it looks like a regular coin with no innovation.

Excuse me but this "POI" thing is not what is going to make the coin successful. The coin has good marketing but I look for "the new thing" not the same of the old thing in a different name.
The developers say that there is innovation that they cannot disclose yet. when people don't disclose things it makes me worry.

So far it just looks like a well thought bump and dump coin.

[Canaanite]

the supply is 4,000,000,000! That is a pretty big supply

the supply amount doesn't really matter but from what I understand there are 1000NEMstakes that each worth 1million NEMS
that's only a quarter of the supply.

I get lost on the the graphs at https://bitcointalk.org/index.php?topic=654845.0
is it possible that 25% goes to development?! (like 25% premine?)
I also read about another IPO beside the one at NXT AE... It's all too confusing

[dandruff1138]

the supply is 4,000,000,000! That is a pretty big supply

the supply amount doesn't really matter but from what I understand there are 1000NEMstakes that each worth 1million NEMS
that's only a quarter of the supply.

I get lost on the the graphs at https://bitcointalk.org/index.php?topic=654845.0
is it possible that 25% goes to development?! (like 25% premine?)
I also read about another IPO beside the one at NXT AE... It's all too confusing

If anyone claims supply doesn't matter they are in for a rude awakening.

[devphp]

If anyone claims supply doesn't matter they are in for a rude awakening.

Actual amount of units in supply doesn't matter as long as it's predictable.

[d5000]

Is there a document anywhere which explains POI in detail?

I read somewhere that it would use a similar model to Google's Pagerank to track the importance of the nodes, but this seems pretty gameable. I did not like the NEM distribution model, but I would give it a chance if the algorithm is sound.

[jubalix]

what will be the maximum theoretical TPS of POI?