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Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1572. (Read 2985369 times)

hero member
Activity: 756
Merit: 506
Hi,

i dont want so start to talk again - what to do with unclaimed stakes -   but what do you think about this project?

https://www.cryptocurrency-bank.com/

We could invest with that fund into the 1st cryptocurrency-bank, this could be a huge thing in future and NEM would recieve constantly dividend, with this dividend could stabilize the NEM system.  The Fidor Bank is a good known Bank in Germany, couse it is a partner from the exchange bitcoin.de  the majority of Bitcoin user in Germany has a Fidor account.  It is a trustful bank,  and Kraken as exchange is also known for the most of the community.

Nem could be a big supporter for the first cryptocurrency bank ever and the CCbank for NEM, and its a real big promotion as well.

Lets think about the potencial in the future.

I suggested that as well Smiley
My idea was to become one of the partners and distribute the unclaimed to new customers of the first crypto oriented bank. That'd be quite awesome. Many new, real people that are obviously crypto interested. Won't get any better than that.

I agree, this is a great opportunity.  

I'm waiting until we have crypto banks as I would like to use them.   Real world credit is no different, they can't throw you into prison or chop your arm off just because you made a bad decision.  Now if you borrowed from the mafia they can certainty cement your feet and toss you into the river.


A good example here in cryptos is there is a lot of IPOs and assets, so starting a credit limit of say $50 or $100 would allow someone to invest into assets on asset exchanges or in IPOs and possibly make a good return and be able to pay off the interest.  This would allow the person to acquire a better credit score so they can borrow more and continue making those returns and everybody (the bank and the account holders at the bank) would make money from this.

Eventually as the bank gets bigger then so would the available credit.  As for people who can't pay their credit off - that's called bad debt and it's commonplace in this world.




legendary
Activity: 1059
Merit: 1016
Hi,

i dont want so start to talk again - what to do with unclaimed stakes -   but what do you think about this project?

https://www.cryptocurrency-bank.com/

We could invest with that fund into the 1st cryptocurrency-bank, this could be a huge thing in future and NEM would recieve constantly dividend, with this dividend could stabilize the NEM system.  The Fidor Bank is a good known Bank in Germany, couse it is a partner from the exchange bitcoin.de  the majority of Bitcoin user in Germany has a Fidor account.  It is a trustful bank,  and Kraken as exchange is also known for the most of the community.

Nem could be a big supporter for the first cryptocurrency bank ever and the CCbank for NEM, and its a real big promotion as well.

Lets think about the potencial in the future.

I suggested that as well Smiley
My idea was to become one of the partners and distribute the unclaimed to new customers of the first crypto oriented bank. That'd be quite awesome. Many new, real people that are obviously crypto interested. Won't get any better than that.

I agree, this is a great opportunity.  

I am not so sure about "putting money NEM 's unclaimed stake in the bank" unless there is a clear benefit. Need to understand what they are trying to do exactly first. But working with them is certainly an option. However, bare as it is at launch, we have no advantage over another coin of similar offerings (i.e., similar offerings before V1). Hence, why would they consider to work with us until we have rolled out V1, which is a clear advantage over most cryptos.

But do not get me wrong. It is certainly an option that we need to look at. But until we have strong value proposition, we should think through how to make this a possibility.

At V1, I believe we can offer more and in fact be a decentralized partner that dovetails into their services and enable them to offer a more holistic set of services. This is what I see should be our aim rather than a passive partner handing out NEM coins. It is not much better than air drop. Consistent with air drop which I also advocate, it has to be done at the appropriate time and should only be done after V1.

hero member
Activity: 756
Merit: 506
FRB succeeds because these institutions accept each other's IOUs, withdrawal panics can be stopped with banking holidays, big banks will bail in each other to advert a crisis and then bail outs from the government who consider these banks too big to fail.


MtGox wasn't a bank but imagine if there were other MtGoxes and they were chummy with each other?  They would had rescued MtGox and there may had been no Bitcoin bust in 2014.


Impressive edit, my question still stands if you're able to answer it?




Best way to answer it is for you to deposit funds into multiple exchanges and try following it on the block explorer.  They use scripts to break up deposits, have their own mixers, move them into multiple cold storage wallets, et cetera - but none of this is actually mentioned on the interface at the exchange's URL.

They can also sell Bitcoin for $Fiat and other coins without necessarily proving they have those funds (beyond putting forward an address to one of their cold wallets which is no different than the local teller at your bank showing they have $100K in cash on site despite accounts numbering in the millions).

sr. member
Activity: 278
Merit: 250
Hi,

i dont want so start to talk again - what to do with unclaimed stakes -   but what do you think about this project?

https://www.cryptocurrency-bank.com/

We could invest with that fund into the 1st cryptocurrency-bank, this could be a huge thing in future and NEM would recieve constantly dividend, with this dividend could stabilize the NEM system.  The Fidor Bank is a good known Bank in Germany, couse it is a partner from the exchange bitcoin.de  the majority of Bitcoin user in Germany has a Fidor account.  It is a trustful bank,  and Kraken as exchange is also known for the most of the community.

Nem could be a big supporter for the first cryptocurrency bank ever and the CCbank for NEM, and its a real big promotion as well.

Lets think about the potencial in the future.

I suggested that as well Smiley
My idea was to become one of the partners and distribute the unclaimed to new customers of the first crypto oriented bank. That'd be quite awesome. Many new, real people that are obviously crypto interested. Won't get any better than that.

I agree, this is a great opportunity. 
member
Activity: 91
Merit: 10
FRB succeeds because these institutions accept each other's IOUs, withdrawal panics can be stopped with banking holidays, big banks will bail in each other to advert a crisis and then bail outs from the government who consider these banks too big to fail.


MtGox wasn't a bank but imagine if there were other MtGoxes and they were chummy with each other?  They would had rescued MtGox and there may had been no Bitcoin bust in 2014.


Impressive edit, my question still stands if you're able to answer it?

hero member
Activity: 756
Merit: 506
Is it 8 Billion Nem coins divided to all the Nemstake holders?


no, 4b

Allright, is it 4 Billion Nem coins divided to all the Nemstake holders?

Why are you phrasing a question in that particular way?   It was originally 3 billion coins divided amongst 3000 stakeholders, with another 1 billion for development / marketing.  What it is right now I'm not too certain anymore as there hasn't been a PDF written to explain the current breakdown.


sr. member
Activity: 476
Merit: 250
Is it 8 Billion Nem coins divided to all the Nemstake holders?


no, 4b

Allright, is it 4 Billion Nem coins divided to all the Nemstake holders?
hero member
Activity: 756
Merit: 506
FRB succeeds because these institutions accept each other's IOUs, withdrawal panics can be stopped with banking holidays, big banks will bail in each other to advert a crisis and then bail outs from the government who consider these banks too big to fail.


MtGox wasn't a bank but imagine if there were other MtGoxes and they were chummy with each other?  They would had rescued MtGox and there may had been no Bitcoin bust in 2014.



member
Activity: 91
Merit: 10
fractional reserve can still happen in cryoto. It just means the exchanges don't have enough of what ever currency to cover the mass withdrawal of that currency. They may be running in the red and took some deposits to stAy open with the intention of replacing it from future profit.

This isn't the same as what most mainstream banks are presently practicing, Mt Gox being a good example of what happens when you're unable to generate your own Cypto's!


Interesting article which emphasises the need for exchanges to maintain reserve ratios in excess of 100%, which is light years away from what Central banks allow now.
sr. member
Activity: 476
Merit: 250
Is it 8 Billion Nem coins divided to all the Nemstake holders?

hero member
Activity: 840
Merit: 500
Risk taker & Black Swan farmer.
There is already fractional reserves among the Bitcoin and alternate exchanges and they are creating immense inflation.

I wasn't aware of this, can you please explain where they get this fractionally generated Bitcoin from?
fractional reserve can still happen in cryoto. It just means the exchanges don't have enough of what ever currency to cover the mass withdrawal of that currency. They may be running in the red and took some deposits to stAy open with the intention of replacing it from future profit.


Here are some thoughts on that: http://coinbrief.net/credit-bubble-bitcoin-margin-trading/
member
Activity: 91
Merit: 10
There is already fractional reserves among the Bitcoin and alternate exchanges and they are creating immense inflation.

I wasn't aware of this, can you please explain where they get this fractionally generated Bitcoin from?
hero member
Activity: 756
Merit: 506
There is already fractional reserves among the Bitcoin and alternate exchanges and they are creating immense inflation.   At least a crypto bank fractional reserves would be leading to something more positive - like financing & credit, investment options or even consumer protection.

Myself wouldn't use such an institution unless I was ensured it was safe and the person running it was public and had legal liability (like imprisonment or fines) if it went bankrupt.  It would have to be compliant with regulatory laws in the sense that it would have to undergo external audits and publish reports every quarter or semi-annual.

This is an economical discussion not particularly well understood by most users of Bitcoin.  Our contemporary world economy and even national countries are largely ran on the premise of spendable IOUs.  If there wasn't spendable IOUs then velocity of money would likely slow to a crawl as nobody would be able to get financing, credit or capital for economic activities.

member
Activity: 91
Merit: 10
Hi,

i dont want so start to talk again - what to do with unclaimed stakes -   but what do you think about this project?

https://www.cryptocurrency-bank.com/

We could invest with that fund into the 1st cryptocurrency-bank, this could be a huge thing in future and NEM would recieve constantly dividend, with this dividend could stabilize the NEM system.  The Fidor Bank is a good known Bank in Germany, couse it is a partner from the exchange bitcoin.de  the majority of Bitcoin user in Germany has a Fidor account.  It is a trustful bank,  and Kraken as exchange is also known for the most of the community.

Nem could be a big supporter for the first cryptocurrency bank ever and the CCbank for NEM, and its a real big promotion as well.

Lets think about the potencial in the future.

I suggested that as well Smiley
My idea was to become one of the partners and distribute the unclaimed to new customers of the first crypto oriented bank. That'd be quite awesome. Many new, real people that are obviously crypto interested. Won't get any better than that.

THIS!

That would be a Promotion for the eternity,  realy guys!!  this is the biggest chance for NEM,  you want a movement with the wides distrubution? and well known? you wont find a better opportunity for the next 10 years.

This Bank makes history.!

Is this bank based on fractional reserve banking? If Yes, That would be problematic with the philosophy of crypto currencies and especially for NEM.



Theoretically Cypto's can't be produced from thin air like fiat currencies can, so "fractional reserve banking" isn't possible.

Aren't Cyptp-currencies supposed to be about not needing centralised banks anymore?

What could this proposed Bank do that a individual NEM client couldn't?

Here's Fidor's published strategy statement:

We are a rule-setting, agnostic service leader audited by a federal regulation providing a banking home for the providers and clients of cryptocurrency related services.

"Agnostic service leader"?

Who's "federal" regulating body?

hero member
Activity: 588
Merit: 500
NEM ....best currency distribution ever ...!!!!!!!
Wow some of you people are fucking retarded, all I want to know is how the unclaimed stakes will be used.  

Well, the "developers" will decide how they want to "use" them (ahem, give it to their friends). This wouldn't be a problem if they didn't already have any development funds, but they started out allocating 25%. That's 1 billion nem, or 1000 stakes. With unclaimed stakes added, they intend to double that with the control of 2 billion nem. That's the "fair" distribution.



Eadeqa your supposed to be a "respected" member of the nxt community.. stop talking shit about nem as if nem has done something to personally harm you. i know you want to "fit in with the gang" and all but this is just lowering you to a bottom feeding troll destroying what ever respect you had.

grow up for god sake..



Oh the hypocrisy of someone from NXT preaching what is "fair". Lol. Hilarious. The FUD'sters are still coming out of the woodwork i see.

They're going to have to try harder than that.

NEM has broken the mold with it's distribution model, not perfect by any means but perfection is quite a difficult thing to strive for in such a FUD riddled market. The NEM dev's have done some exceptional work and I know it's only the beginning.

The great thing here is that there is a REAL sense that the devs mean business....!!!!!!!!
hero member
Activity: 1115
Merit: 535

Thank you for your good description!


you say: Every time you generate the data for the real account new values will be generated.

If i generate a new value, i can still use the old values, or apply only the new values?

You can use old values but save them somwhere
expecially the private key and address because if you forget lose the prpivate key you loose all the nem forever
and if you supply (register) wrong nem address in that site too.

so in "pictures"

1st generation
[private key1, public key1 , address1]

2nd genration
[private key2, public key2 , address2]

you can register the address1 but if you then loose private key 1
you can't use private key 2 to get NEM from address 1
because i think that addresses are derived (generated) out of private key

So be carefull save the data correctly take your time and check more than once that you have
saved stored in a secure place the data that was generated from the software.


legendary
Activity: 1232
Merit: 1001
mining is so 2012-2013

"Once phase 2 has begun we'll also reset the https://chain.nem.ninja/stakes/registered page to display only people who have registered their NEM-address in combination to their token. It will also show the NXT-Addresseses that have already sent back their NEMStake and the NEM-address that has been registered with that transaction. We urge everyone to check this list to make sure everything is in order! It is your responsibility to make sure everything is alright."

On the stake registration page i have to add the real nem address what i have created. I mean that
is that address and token a pair, or token only is the "key" for real nem?


Hello.

Here
https://chain.nem.ninja/stakes

you enter the token where is written token
and the real NEM address  where is written address.

The address that you enter is the real address that you generated in the NEM software.
The address that you generated is the real address for the real network that is not yet online.
The real address starts with letter "N" like NEM
The address displayed in your software on top left corner starts with "T" like Test is a test address

The current BETA the you all are running is a test software running on test network.
There is no real NEM in circulation yet.

You are using beta software to generate the private key , public key and address for the real network that
still need to be setup.

The data that you have generated is random that mean is not stored anywhere on your computer
and that means you are sole responsabile to take care (store that data).
If you loose this data or supply wrong address you won't receive real NEM.

Every time you generate the data for the real account new values will be generated.

I hope i made more clear to all of you in my pidgin english.

To NEM community in general or (OP): WE should put a FAQ somewhere about this because
in this thread on each page same questions are asked 3 times.



Thank you for your good description!


you say: Every time you generate the data for the real account new values will be generated.

If i generate a new value, i can still use the old values, or apply only the new values?
Yes, any time you create real account data, you are creating a new account, which is a real account. And that private key, public key, and account number will always match and be valid
hero member
Activity: 1134
Merit: 502
We will make a release tomorrow most probably.

sorry, are you talking about NEM being released or some sort of information?
hero member
Activity: 497
Merit: 501
Wow some of you people are fucking retarded, all I want to know is how the unclaimed stakes will be used.  

Well, the "developers" will decide how they want to "use" them (ahem, give it to their friends). This wouldn't be a problem if they didn't already have any development funds, but they started out allocating 25%. That's 1 billion nem, or 1000 stakes. With unclaimed stakes added, they intend to double that with the control of 2 billion nem. That's the "fair" distribution.



Eadeqa your supposed to be a "respected" member of the nxt community.. stop talking shit about nem as if nem has done something to personally harm you. i know you want to "fit in with the gang" and all but this is just lowering you to a bottom feeding troll destroying what ever respect you had.

grow up for god sake..



Oh the hypocrisy of someone from NXT preaching what is "fair". Lol. Hilarious. The FUD'sters are still coming out of the woodwork i see.

They're going to have to try harder than that.

NEM has broken the mold with it's distribution model, not perfect by any means but perfection is quite a difficult thing to strive for in such a FUD riddled market. The NEM dev's have done some exceptional work and I know it's only the beginning.
hero member
Activity: 840
Merit: 501

"Once phase 2 has begun we'll also reset the https://chain.nem.ninja/stakes/registered page to display only people who have registered their NEM-address in combination to their token. It will also show the NXT-Addresseses that have already sent back their NEMStake and the NEM-address that has been registered with that transaction. We urge everyone to check this list to make sure everything is in order! It is your responsibility to make sure everything is alright."

On the stake registration page i have to add the real nem address what i have created. I mean that
is that address and token a pair, or token only is the "key" for real nem?


Hello.

Here
https://chain.nem.ninja/stakes

you enter the token where is written token
and the real NEM address  where is written address.

The address that you enter is the real address that you generated in the NEM software.
The address that you generated is the real address for the real network that is not yet online.
The real address starts with letter "N" like NEM
The address displayed in your software on top left corner starts with "T" like Test is a test address

The current BETA the you all are running is a test software running on test network.
There is no real NEM in circulation yet.

You are using beta software to generate the private key , public key and address for the real network that
still need to be setup.

The data that you have generated is random that mean is not stored anywhere on your computer
and that means you are sole responsabile to take care (store that data).
If you loose this data or supply wrong address you won't receive real NEM.

Every time you generate the data for the real account new values will be generated.

I hope i made more clear to all of you in my pidgin english.

To NEM community in general or (OP): WE should put a FAQ somewhere about this because
in this thread on each page same questions are asked 3 times.



Thank you for your good description!


you say: Every time you generate the data for the real account new values will be generated.

If i generate a new value, i can still use the old values, or apply only the new values?
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