Topic: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread - page 430. (Read 661525 times)

I don't want to get in a fight with the NXT people, but it's conjecture to assume that the NXT creators would have allowed more than a total investment of 21 BTC. The NXT IPO was halted suddenly 6 weeks before the posted end date and well below the desired number of stakeholders. In my opinion, there's no reason to believe it wouldn't have ended much sooner if there was more interest earlier. For example, if the NXT IPO received 21BTC on the first day why do we think it wouldn't have been shut down immediately?

I don't want to get in a fight with the NXT people, but it's conjecture to assume that the NXT creators would have allowed more than a total investment of 21 BTC. The NXT IPO was halted suddenly 6 weeks before the posted end date and well below the desired number of stakeholders. In my opinion, there's no reason to believe it wouldn't have ended much sooner if there was more interest earlier. For example, if the NXT IPO received 21BTC on the first day why do we think it wouldn't have been shut down immediately?

Of this Updates i wait

They could but they didn't as the
thread was shoveled under other hundreds  shitcoin [ANN] threads.
Who was lucky to find the thread and had balls to send some btc at the right moment
has been rewarded the others who were not so lucky or did not had balls to put some btc
or have been slow to convert FIAT to btc to buy nxt like myself paid or has to pay higher price.
 
There is nothing we can do about this anymore.
The cards have been dealt and the game has started.

there didn't have to be 71 stakes, 100.000 people in Bitcointalk could send 0.001 Btc during 61 days

Updates this weekend we can't have a community without trust, can't we ? I have put up  bounties for managing nemcoin.com; .info and .org so prepare a plan if you want to manage one of them. I think i will put them out for anyone capable after the fund raising is over.

Let me know if you can be a core developer then you can have an access to the core development plan.

For this type of project, funding is never a big factor. for an example you can just compare Mastercoin with NXT and Counter-Party-Protocol. I have explained before, the amount of funding is never a big factor for this project to progress. But the funding is there to establish participant's commitment and to establish the floor price of NEM.
We could have used Proof of Burn instead and this project will still progress, but I just don't see why we should enrich the current Bitcoin holders, so the funding will be kept for development but it will not be the deciding factor of NEM's success or failure.

How is starting with 3000 stakes similar to starting with 71 stakes ?

Distribution of Nxt:
first 61 days, 1 Nxt = 2 Satoshi = 71 stakeholders
next week, 1 nxt = 100 Satoshi = 400 stakeholders
next weeks, 1 nxt = 400-2000 Satoshi = thousandts of stakeholders

Distribution of Nem:
First 20 pages   : free to join in
pages 21-30     : fee = 0.001 btc or  10nxt
page 81-90     :fee=0.03btc or 300nxt
b)
page 51-60          :fee=0.06btc or 600nxt  

So the distribution of Nxt and Nem is very similar, only with the biggest difference - first stage of Nxt first IPO was 61 days long and Nem had it for a few days (hours?)

I am very excited about the news which will give it this weekend, the weekend ends with us in Germany in just over 4 hours

Has anyone any idea about how NEM can be better than NXT ?
Yes distribution will be by far (more stakeholders)
Copy cat clones are going to pop up like mushrooms.
i think we need an edge on a 100 % clone.
Can anyone think of a dev that is easy to implement ?
would programming in C be better ?
Just a few thoughts at the start of this journey !

Is this legit ?

https://bitcointalksearch.org/topic/--453998

1. Pay a fee to join in
   
    Send 650 NXT to the address      14343293611098709683
    Send 0.065 BTC to the address     1Lk5Paws9T1YpoSeLeZT7ZeSQKW7UNq4TJ
    Paypal option available at 50$ (you would need to send gift), this option is not available to users who can purchase NXT or BTC easily - NXT designated address for this service 3231774856984709013 Read here for How to use Paypal option https://bitcointalksearch.org/topic/m.4899575

https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdDZ0amZpM00wQXhrR2lJM3pCOGRhNFE#gid=4

T2-1665

Here are some suggestions on how to improve over Nxt

(1) Don't let the user choose the passphrase by default. Brain wallet should be an advanced feature and not a default option. Generate a 256-bit random seed for the user, and save that (in encrypted form) in wallet.dat file. The user will provide the password for the encryption. Don't ever save the seed unencrypted on the hard drive, ever. Don't make that an available option.  Encryption password must be a requirement (and the user must type it twice).

(2) Make the accounts deterministic, so the user will only have to back up wallet.dat once (not like Bitcoin's QT where regular backups are required).

Basically, it should work something like this:

seed = 256-bit randomly generated and saved encrypted in wallet.dat

Account-One = Hash (seed)

If the user creates more accounts,

Account-two = Hash (Account-One + seed)
Account-three =  Hash (Account-two + seed)

etc etc .

The user can create as many accounts as they want. As long as they never lose the seed, they will be fine. No regular backups required.  

(3) Do not include any code that has anything to do with signing transaction in server code. The signing  should be client's job. That way the users who don't want to download the server software can just download a lightweight client and connect to a public node and safely use it without ever transmitting the secret seed over the internet.