Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1111. (Read 2985369 times)

When should come out nem v1??

so it's similiar approach as Dark/Dash's masternodes? Is there really value in this idea?

Makoto's 5 million (or 3 million) hint about 10 days ago was  about node reward system.
right? 

If you have 30 million NEM you can get 10 nodes going....at least i think so.

Very good idea, with this rewards programme! Just one quick question - can I provide two or more full NIS nodes with one 3mio+ account, or is it strictly bound to one ("rich") account = one (full/harvesting) node ?

Someone could setup 100 of nodes and cash out pretty well. You need a minimum. I agree that 3 million is too much though.

Wouldn't any number of XEM suffice then instead of the 3 million? The work alone discourages the setup of multiple nodes. Only wealthy people can join the node reward system with this setup.

In my eyes even people with no money should be able to setup a node.

And I think the aging and the testing of the nodes also protects the creation of multiple nodes from one person.

Hi 

If you just have an account and you want to harvest, you can harvest on your own node at your home, or you can try to find somebody else who has an open spot.  If you find one, they will do everything for you.  If not, it is still easy to harvest at home. 

You pay nothing to form blocks and earn fees from block.  always.   This is also determined by your POI.   The higher your POI, the more blocks you will make and the more fees you will earn.

With node rewards, you don't have to pay anything either, but you do need to prove you own so much XEM to participate, but that XEM will always be yours in your account.  If anybody asks you to pay something, please don't do it. 

The amount in your account to participate is currently set at 3 million, but this is still in discussion.  Generally it needs to be high to avoid centralization.  XEM is a scarce resource, and making a high deposit keeps any one person from running all the nodes and taking most of the rewards. 

A long time ago there was a program on the BOINC program by Ripple, where they were paying people, but because there was no deposit, anybody could join.  People ran lots and lots of computers taken over by malware and gamed the system.  If we allow just anybody who runs a node to get rewards, then for sure somebody will cheat the system and run hundreds of nodes probably acquired in bad ways and take the lion share of the XEM and just dump it on the market.  That is what happened to Ripple so they had to close their mining program. But with XEM set up in your account by yourself, it keeps people from gaming the system and keeps the NEM network from becoming centralized.   

thanks @patmast3r. I guess the best thing i can do is wait for a while.

When I try to shift for delegated Harvesting it says max number on server reached. Is it like luck to get a spot on the harvesting server?
I have not really understood that topic. Also why do you have to pay to harvest?
I agree with jabo on the marketing approach...

Here's the way I understand it.

You need 1 account hat holds at least 3 million XEM.
You need to active delegated harvesting for that account.
You need to boot your node with the remote-priv-key for that account
You need to send an unencrypted message "opt-in" from that account to NAFUNDBUKIOSTMD4BNXL7ZFE735QHN7A3FBS6CMY

That's all you need to do to set things up.

The whole thing is a lottery so there are no guaranteed fixed payouts but there will be many and regular lottery "draws" so most likely everyone will win at some point.

The whole aging thing is prob something noone needs to concern himself with. Best thing is to just set it up and then wait for rewards

I agree so much!

I have already read. also i noticed that you have questions about the payouts. so devs should clarify this subject i think.

https://forum.ournem.com/general-discussion/nem-node-reward-discussion/msg17200/#new

Can anybody explain NEM Node Rewards system briefly? Especially payouts section?

Sad to say, but that's undoubtedly true. It's the sort of negative dynamic / negative feedback loop that I fear is driving the entire crypto ecosystem down the drain.

You don't get trust if you don't give trust - you don't trust people, people don't trust you - distrust breeds more distrust.

Tech is great. Unfortunately, human nature sucks. And down goes the collective market cap of the crypto ecosystem over time. Hopefully, someone comes up with a new innovation to get around these issues.

There are people that hate NEM. And I do mean hate. I'm not sure they have proper reason but that's not the point. Going public as being a core dev and decision maker in NEM is like paiting a target on your back and shouting "Come get me".

It would be great for the project but potentially disastrous for the people.

Exactly - that's the other aspect of it that gives investors in this skeptical/cynical crypto climate a lot more confidence. Just look at the history of crypto itself. Some of the biggest gains (at least initially) went to coins with devs who went public. I remember DRK and XC had some of the biggest earliest altcoin surges when their devs went public. People have been burned to often by anon devs on other coins, and many dont understand the tech innovation. But they do understand when an expert in the field is backing things. It matters.

Idea to going public with their indentity is great.
It means a lot for a new investors, that dev's are standing by their project with real indentity

I absolutely support NEM