Author

Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1649. (Read 2985369 times)

hero member
Activity: 756
Merit: 506
[Poll]
How many NEM coins should be?
Please vote twice, and decide NEM's future for yourself.


1)   https://forum.nemcoin.com/index.php?topic=2531.0
2)   https://forum.nemcoin.com/index.php?topic=2540.0



I closed the first poll as a three way poll isn't that accurate, especially when the first two options were similar enough.


The 100 billion option could be polled on but is anyone actually enthusiastic about it?  As well wasn't the point behind this other people's superstition?   The number 8 is an important number in East Asia.  I'm not sure if the number 10 is considered good anywhere.

I think two options are good enough, but what if someone doesn't want a change?

Well the first option is effectively the same as no change, isn't it?

Whether you like or it not - anybody can change the total supply by sending as little as 1 NEM back to the genesis account.  This isn't something unique to NEM but something you can do to any coin, it's called burning.
legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
[Poll]
How many NEM coins should be?
Please vote twice, and decide NEM's future for yourself.


1)   https://forum.nemcoin.com/index.php?topic=2531.0
2)   https://forum.nemcoin.com/index.php?topic=2540.0



I closed the first poll as a three way poll isn't that accurate, especially when the first two options were similar enough.


The 100 billion option could be polled on but is anyone actually enthusiastic about it?  As well wasn't the point behind this other people's superstition?   The number 8 is an important number in East Asia.  I'm not sure if the number 10 is considered good anywhere.

I think two options are good enough, but what if someone doesn't want a change?
hero member
Activity: 756
Merit: 506
[Poll]
How many NEM coins should be?
Please vote twice, and decide NEM's future for yourself.


1)   https://forum.nemcoin.com/index.php?topic=2531.0
2)   https://forum.nemcoin.com/index.php?topic=2540.0



I closed the first poll as a three way poll isn't that accurate, especially when the first two options were similar enough.


The 100 billion option could be polled on but is anyone actually enthusiastic about it?  As well wasn't the point behind this other people's superstition?   The number 8 is an important number in East Asia.  I'm not sure if the number 10 is considered good anywhere.
legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
Gundam NEM  Cheesy


So why did Mona coin died?  I remember seeing an article about some guy buying land with his Mona coin, so I guess it was dumped to death by instaminers?

 Yeah this seems to be a reoccurring trend in cryptos, a lot of these instaminers (are they possibly connected with each other?) who are just dumping every coin they can into an early grave.


Best part about NEM?  Can't be instamined and no whales waiting to dump.  Good stability and price will keep going up & up.  Grin


Mona never really had any unique technological advancement. It has/had a fun community and even some comic books about the coin. I wish NEM would attract more involvement like that. Combined with amazing technology and user experience, it would really propel NEM to da moon!
sr. member
Activity: 289
Merit: 250
[Poll]
How many NEM coins should be?
Please vote twice, and decide NEM's future for yourself.


1)   https://forum.nemcoin.com/index.php?topic=2531.0
2)   https://forum.nemcoin.com/index.php?topic=2540.0

hero member
Activity: 756
Merit: 506
Gundam NEM  Cheesy


So why did Mona coin died?  I remember seeing an article about some guy buying land with his Mona coin, so I guess it was dumped to death by instaminers?

 Yeah this seems to be a reoccurring trend in cryptos, a lot of these instaminers (are they possibly connected with each other?) who are just dumping every coin they can into an early grave.


Best part about NEM?  Can't be instamined and no whales waiting to dump.  Good stability and price will keep going up & up.  Grin
legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
Oh I certainly am not intending to offend anyone. What I'm saying is all things being equal (which appears to be the consensus from North American's and Europeans here?), 8 is as arbitrary as 4, but apparently is less upsetting to the largest number of people. It also seems like Asia just generally adapts quicker to new technology culturally than European and North American markets. I had Japanese friends laugh at our cell phones (this was the pre iPhone days) in the states and tell us they'd had features like that for years. "Every kid in Japan is already banking by phone" or whatever it was that now escapes me. I believe I read North America has the least inertia with broadband too despite being a major initial developer. I Believe I also read that North America severely lags behind Europe and Asia in math and science. I'm always reading about some viral technology thing going on in Asia that I have never even heard of. Some mobile app, cyborg conversions, biometric implants, whatever. On the other hand I see things like Facebook and Twitter as an American invention (for better or for worse). Maybe American's want to play bejeweled, post pictures of their food or check in to the gym but not take control of their personal finances or use cool prosthetics.

Granted this is somewhat baseless and purely on observation from the news, but it just seems like Asian markets adapt quicker to new ways of doing things, and therefore they seem the natural catalyst to break a cryptocurrency out of its infancy so long as it doesn't get under the noses of regulators too quickly. I remember all the trollbox FUD about "China banning exchanges!" and the purported associated crash of BTC to sub 1000, then 900, then 800 and so on levels earlier this year. There are assertions floating about in the interwebs that much of the value of BTC was Chinese nationals using it to bypass the strict limitations on moving currency in and out of the country. I would just easily believe it was Wall Street investors, drug dealers, and libertarians too, who knows. I would have to guess laundering money, whether criminal or benign in intent is a natural companion to the utility provided by Bitcoin.

If I have offended you with these statements my apologies in advance. For the record, I am in one of those "Slow" North American markets with crappy broadband before you accuse me of elitism.

Unfortunately, your view of Japan as a "fast-adapting hub of technology" is a very antiquated view of Japan. Japan has been lagging behind in the technology sector for years now, and I would say Japan is anything but "quick to adapt" when it comes to trying new things. Yes, we have NFC payments on our phones already, and we have a few things here and there that might seem "cutting edge", but in reality barely anyone here even knows how to use a PC at the most basic level unless they are trained on the job for it. I mean, I still have to FAX or snail mail most of my documents for business here as 99% of my clients refuse to accept digitally signed PDF files via e-mail.

Japan is, on the whole, scarily xenophobic and simply does not want to use any non-Japanese technology. It took years for Japanese people to warm up to non-Japanese cell phones (like the iPhone, which was a huge flop when it first hit the market here), Facebook (which only in the past couple of years has started to become more common than the Japanese-created SNS mixi), or even YouTube (which still I do not think is as popular as the Japanese-created video site niconico douga).

Anyway, I don't mean this to be a Japan-bashing post or anything like that... I just want to give you some perspective and remind you that America is still the leader of the world when it comes to technological innovation and adoption. Just because you have slow broadband does not mean you guys are losing the technology arms race. I know "the grass is always greener on the other side" and it is easy to fall into a sense of despair when you only cherry-pick the good things from every other country and only focus on the bad within your own, but reality usually tells a different story.

As I don't live there I will take your word first and foremost on that one. I may also be unfairly interchanging South Korea and Japan in my head on some of the articles I have read. I can't speak to China's adoption of technology, but I expect in this case it wouldn't escape the regulators eyes and the firewall. Not to beat a dead horse, but given most of the world is going mobile and forgoing the traditional PC, having a highly usable mobile app could still tip the scale in blockchain technologies favor even for the most inept user. So in that regard, any country could be the tipping point I suppose with mobile usage surging the way it has been. In fact, it could be the regions we least expect, with the least established infrastructure as the mobile phone gives them a way to secure their assets without the risk of corrupt institutions and civil unrest. It is perhaps these places that have the most potential because of the lack of established financial process (there is nothing to unlearn, only rewards to be had) and not industrialized nations. Regardless, it sounds like making any assumptions about the viability of one region over another in terms of adoption is a bad idea. Furthermore, it sounds like it may be time to let the currency in circulation topic slide so as not to disrupt the faithful that have put up their hard earned bits to support the price in favor of hypothetical people that have staked nothing.

If you only knew what we had up our sleeves Wink
full member
Activity: 180
Merit: 100
Oh I certainly am not intending to offend anyone. What I'm saying is all things being equal (which appears to be the consensus from North American's and Europeans here?), 8 is as arbitrary as 4, but apparently is less upsetting to the largest number of people. It also seems like Asia just generally adapts quicker to new technology culturally than European and North American markets. I had Japanese friends laugh at our cell phones (this was the pre iPhone days) in the states and tell us they'd had features like that for years. "Every kid in Japan is already banking by phone" or whatever it was that now escapes me. I believe I read North America has the least inertia with broadband too despite being a major initial developer. I Believe I also read that North America severely lags behind Europe and Asia in math and science. I'm always reading about some viral technology thing going on in Asia that I have never even heard of. Some mobile app, cyborg conversions, biometric implants, whatever. On the other hand I see things like Facebook and Twitter as an American invention (for better or for worse). Maybe American's want to play bejeweled, post pictures of their food or check in to the gym but not take control of their personal finances or use cool prosthetics.

Granted this is somewhat baseless and purely on observation from the news, but it just seems like Asian markets adapt quicker to new ways of doing things, and therefore they seem the natural catalyst to break a cryptocurrency out of its infancy so long as it doesn't get under the noses of regulators too quickly. I remember all the trollbox FUD about "China banning exchanges!" and the purported associated crash of BTC to sub 1000, then 900, then 800 and so on levels earlier this year. There are assertions floating about in the interwebs that much of the value of BTC was Chinese nationals using it to bypass the strict limitations on moving currency in and out of the country. I would just easily believe it was Wall Street investors, drug dealers, and libertarians too, who knows. I would have to guess laundering money, whether criminal or benign in intent is a natural companion to the utility provided by Bitcoin.

If I have offended you with these statements my apologies in advance. For the record, I am in one of those "Slow" North American markets with crappy broadband before you accuse me of elitism.

Unfortunately, your view of Japan as a "fast-adapting hub of technology" is a very antiquated view of Japan. Japan has been lagging behind in the technology sector for years now, and I would say Japan is anything but "quick to adapt" when it comes to trying new things. Yes, we have NFC payments on our phones already, and we have a few things here and there that might seem "cutting edge", but in reality barely anyone here even knows how to use a PC at the most basic level unless they are trained on the job for it. I mean, I still have to FAX or snail mail most of my documents for business here as 99% of my clients refuse to accept digitally signed PDF files via e-mail.

Japan is, on the whole, scarily xenophobic and simply does not want to use any non-Japanese technology. It took years for Japanese people to warm up to non-Japanese cell phones (like the iPhone, which was a huge flop when it first hit the market here), Facebook (which only in the past couple of years has started to become more common than the Japanese-created SNS mixi), or even YouTube (which still I do not think is as popular as the Japanese-created video site niconico douga).

Anyway, I don't mean this to be a Japan-bashing post or anything like that... I just want to give you some perspective and remind you that America is still the leader of the world when it comes to technological innovation and adoption. Just because you have slow broadband does not mean you guys are losing the technology arms race. I know "the grass is always greener on the other side" and it is easy to fall into a sense of despair when you only cherry-pick the good things from every other country and only focus on the bad within your own, but reality usually tells a different story.

As I don't live there I will take your word first and foremost on that one. I may also be unfairly interchanging South Korea and Japan in my head on some of the articles I have read. I can't speak to China's adoption of technology, but I expect in this case it wouldn't escape the regulators eyes and the firewall. Not to beat a dead horse, but given most of the world is going mobile and forgoing the traditional PC, having a highly usable mobile app could still tip the scale in blockchain technologies favor even for the most inept user. So in that regard, any country could be the tipping point I suppose with mobile usage surging the way it has been. In fact, it could be the regions we least expect, with the least established infrastructure as the mobile phone gives them a way to secure their assets without the risk of corrupt institutions and civil unrest. It is perhaps these places that have the most potential because of the lack of established financial process (there is nothing to unlearn, only rewards to be had) and not industrialized nations. Regardless, it sounds like making any assumptions about the viability of one region over another in terms of adoption is a bad idea. Furthermore, it sounds like it may be time to let the currency in circulation topic slide so as not to disrupt the faithful that have put up their hard earned bits to support the price in favor of hypothetical people that have staked nothing.
hero member
Activity: 834
Merit: 524
Nxt NEM
It's important to think about the implications of NEM supply on market cap: https://forum.nemcoin.com/index.php?topic=2531.msg6776#msg6776

In short, increasing to 8 billion coins should also increase our market cap by maybe $20 million at first.


This is completely wrong. Market cap will be exactly the same. The supply will double and each nemcoin will be worth half of current price.

wrong? Smiley  Did you even read the post of Rockethead?
"What this means is that pricing is emotional and sometimes with a bit of logic involved."   vs. the method of yours ( 1 + 1 = 2 )



He made a lengthy post about this, maybe too lengthy as the point doesn't seem to be getting across.  The point is that we've seen many coins and there does seem to be a correlation between supply and capitalization.  It's not a coincidence that all the successful alternates have a bigger supply than Bitcoin and not less than Bitcoin. 

yea ... that should interest all the stakeholders and also forthcoming investors.

Earlier mentioned the shares of stockmarkets. There the split of the share is almost always taken as a positive change to the value of the share. For example:
  1. share has a value 4 USD
  2. it is splitted  1 : 10
  3. share has a value  0.4 USD

 4.  then comes the market's psychology: the value starts incresing by the time

 5.  1 - 12 months later: share has a value  0.6 USD
 6.  the owner can calculate that the price of the shares has incresed 50%

sr. member
Activity: 478
Merit: 250
It's important to think about the implications of NEM supply on market cap: https://forum.nemcoin.com/index.php?topic=2531.msg6776#msg6776

In short, increasing to 8 billion coins should also increase our market cap by maybe $20 million at first.


This is completely wrong. Market cap will be exactly the same. The supply will double and each nemcoin will be worth half of current price.

wrong? Smiley  Did you even read the post of Rockethead?
"What this means is that pricing is emotional and sometimes with a bit of logic involved."   vs. the method of yours ( 1 + 1 = 2 )



He made a lengthy post about this, maybe too lengthy as the point doesn't seem to be getting across.  The point is that we've seen many coins and there does seem to be a correlation between supply and capitalization.  It's not a coincidence that all the successful alternates have a bigger supply than Bitcoin and not less than Bitcoin. 


If this was post-launch then I would agree. We are still pre-launch and the only place to buy NEM is the Nxt asset exchange. If the asians feel that strongly negative about the number 4 and they like the number 8 then why not just do it? The only message a change would send is that NEM devs listened to asian stakeholders and did the right thing for NEM.
legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
It's important to think about the implications of NEM supply on market cap: https://forum.nemcoin.com/index.php?topic=2531.msg6776#msg6776

In short, increasing to 8 billion coins should also increase our market cap by maybe $20 million at first.


This is completely wrong. Market cap will be exactly the same. The supply will double and each nemcoin will be worth half of current price.

You shouldn't discount human psychology.
legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
Oh I certainly am not intending to offend anyone. What I'm saying is all things being equal (which appears to be the consensus from North American's and Europeans here?), 8 is as arbitrary as 4, but apparently is less upsetting to the largest number of people. It also seems like Asia just generally adapts quicker to new technology culturally than European and North American markets. I had Japanese friends laugh at our cell phones (this was the pre iPhone days) in the states and tell us they'd had features like that for years. "Every kid in Japan is already banking by phone" or whatever it was that now escapes me. I believe I read North America has the least inertia with broadband too despite being a major initial developer. I Believe I also read that North America severely lags behind Europe and Asia in math and science. I'm always reading about some viral technology thing going on in Asia that I have never even heard of. Some mobile app, cyborg conversions, biometric implants, whatever. On the other hand I see things like Facebook and Twitter as an American invention (for better or for worse). Maybe American's want to play bejeweled, post pictures of their food or check in to the gym but not take control of their personal finances or use cool prosthetics.

Granted this is somewhat baseless and purely on observation from the news, but it just seems like Asian markets adapt quicker to new ways of doing things, and therefore they seem the natural catalyst to break a cryptocurrency out of its infancy so long as it doesn't get under the noses of regulators too quickly. I remember all the trollbox FUD about "China banning exchanges!" and the purported associated crash of BTC to sub 1000, then 900, then 800 and so on levels earlier this year. There are assertions floating about in the interwebs that much of the value of BTC was Chinese nationals using it to bypass the strict limitations on moving currency in and out of the country. I would just easily believe it was Wall Street investors, drug dealers, and libertarians too, who knows. I would have to guess laundering money, whether criminal or benign in intent is a natural companion to the utility provided by Bitcoin.

If I have offended you with these statements my apologies in advance. For the record, I am in one of those "Slow" North American markets with crappy broadband before you accuse me of elitism.

Unfortunately, your view of Japan as a "fast-adapting hub of technology" is a very antiquated view of Japan. Japan has been lagging behind in the technology sector for years now, and I would say Japan is anything but "quick to adapt" when it comes to trying new things. Yes, we have NFC payments on our phones already, and we have a few things here and there that might seem "cutting edge", but in reality barely anyone here even knows how to use a PC at the most basic level unless they are trained on the job for it. I mean, I still have to FAX or snail mail most of my documents for business here as 99% of my clients refuse to accept digitally signed PDF files via e-mail.

Japan is, on the whole, scarily xenophobic and simply does not want to use any non-Japanese technology. It took years for Japanese people to warm up to non-Japanese cell phones (like the iPhone, which was a huge flop when it first hit the market here), Facebook (which only in the past couple of years has started to become more common than the Japanese-created SNS mixi), or even YouTube (which still I do not think is as popular as the Japanese-created video site niconico douga).

Anyway, I don't mean this to be a Japan-bashing post or anything like that... I just want to give you some perspective and remind you that America is still the leader of the world when it comes to technological innovation and adoption. Just because you have slow broadband does not mean you guys are losing the technology arms race. I know "the grass is always greener on the other side" and it is easy to fall into a sense of despair when you only cherry-pick the good things from every other country and only focus on the bad within your own, but reality usually tells a different story.

Don't worry, there is no good or bad. Things just are as they are.
hero member
Activity: 756
Merit: 506
then you need buyers, even "penny stock" personalities who are ignoring the more important details).
It's important to think about the implications of NEM supply on market cap: https://forum.nemcoin.com/index.php?topic=2531.msg6776#msg6776

In short, increasing to 8 billion coins should also increase our market cap by maybe $20 million at first.


This is completely wrong. Market cap will be exactly the same. The supply will double and each nemcoin will be worth half of current price.

wrong? Smiley  Did you even read the post of Rockethead?
"What this means is that pricing is emotional and sometimes with a bit of logic involved."   vs. the method of yours ( 1 + 1 = 2 )



He made a lengthy post about this, maybe too lengthy as the point doesn't seem to be getting across.  The point is that we've seen many coins and there does seem to be a correlation between supply and capitalization.  It's not a coincidence that all the successful alternates have a bigger supply than Bitcoin and not less than Bitcoin.   

Digital currencies right now, unfortunately, does have a lot of "penny stock" buyers who are buying based on the price even though the price in all honesty doesn't matter (it's the capitalization which matters..   but to get that capitalization increase then you need every buyer, including the penny stock personalities who think they are getting a good deal as they don't comprehend and/or ignore things like market capitalization, volume, et al).
hero member
Activity: 834
Merit: 524
Nxt NEM
It's important to think about the implications of NEM supply on market cap: https://forum.nemcoin.com/index.php?topic=2531.msg6776#msg6776

In short, increasing to 8 billion coins should also increase our market cap by maybe $20 million at first.


This is completely wrong. Market cap will be exactly the same. The supply will double and each nemcoin will be worth half of current price.

wrong? Smiley  Did you even read the post of Rockethead?
"What this means is that pricing is emotional and sometimes with a bit of logic involved."   vs. the method of yours ( 1 + 1 = 2 )

hero member
Activity: 756
Merit: 506
It's important to think about the implications of NEM supply on market cap: https://forum.nemcoin.com/index.php?topic=2531.msg6776#msg6776

In short, increasing to 8 billion coins should also increase our market cap by maybe $20 million at first.

I think this option could result in a lot of dissent from existing stakeholders.  Or maybe people will like it?  

I think it's possible that a larger market cap could boost NEM capitalization significantly.  For one, there's probably people who are pricing NEM in just NXT and therefore the prices could hold to an extent if you boosted the total supply.  Your NEMstake would scale in this option and you would benefit from this market capitalization increase.
 

Then there is the psychological.   Look at the Doge effect - 90+ billion coins and it brought in many people who were able to afford millions.  Masses of people spending $10-$100 to become a is always going to be better than a dozen guys pumping in tens of thousands.

Doge I think did ok.  It wasn't the total supply itself in Doge that was controversial - it was the hyper inflation from PoW mining and then the instamine whales who got in early dumping on the new comers (which is arguably no different than NXT and a factor why people ceased coming to NXT.  Why buy something that never goes up because as soon as it rebounds some whale dumps?).


Not a lot not to like really. Worst case the supply equalizes the demand and we aren't really worse for the wear right? The important thing here is that it isn't like someone paid 50k nxt on Poloniex to get 1,000,000 and then gets screwed when it suddenly halves in value (worst case) as the supply is doubled. That would kind of piss me off. Anyone that has paid or will pay for a piece of the pie will be sorted in proportion. I guess I personally don't understand the mechanics of inflationary coins that well and the psychology it induces on the market in terms of value to make a good judgement other than a highly ignorant statement like "doubling the supply should halve the value per unit" in a perfectly efficient market.

Not really what me or Makoto had wrote.  There's no inflation here.

Your NEMstake on the asset exchange is 0.00025% of the total NEM supply and that's how much NEM you will get - doesn't matter if it launches with 4 billion (1 million), 8 billion (2 million) or 100 billion (25 million)- you will get the 0.00025%.  0.00025% is 1 million / 2 million / 25 million depending on what the total supply is.

I think Makoto and Rockethead's logic here is not everybody is paying fine attention to the value of NEM, so you if you did increase the supply and scale everything up then people may continue paying the same price (even if it drops by 50% it would be a net gain over remaining at just 4 billion).

The current buyers of the asset exchange should be in favor of this as it essentially guarantees them an overnight 15x-30x return if it does work the way I described.  

I see merit in this idea but I think it's too controversial and I would vote no on it if it was polled..  but of course I'm just one person and my opinion is different from the people who are current spending $Fiat on NEMstake
hero member
Activity: 834
Merit: 524
Nxt NEM
Number of coins, number of stakeholders

When NEM was announced almost a year ago, then was mentioned 4000000000 coins and 4000 stakeholders.
The latter has already been changed.
It would have been possible to just mention in the very beginning that there will be
1000000000 - xx000000000 coins and 1000 - xx000 stakeholders - depending on the popularity of the NEM.

If the first definition was "1000000000 - xx000000000 coins",
would it affected so that you would not be in NEM? Smiley



Here and there are comments, which seem to steer this discussion to /dev/null  (to its end without any results). I think that is too hasty.
Because:
1) Asia is a big economy and in the future it will be bigger.
2) The change of Number of coins is possible (and it has no actual effect to stakeholders).
newbie
Activity: 36
Merit: 0
I can't understand why we need to change the total number of coins.
A small group of people said that 4 bill was unluck, it's so ridiculous.
Just keep on the original plan.
full member
Activity: 180
Merit: 100
It's important to think about the implications of NEM supply on market cap: https://forum.nemcoin.com/index.php?topic=2531.msg6776#msg6776

In short, increasing to 8 billion coins should also increase our market cap by maybe $20 million at first.

I think this option could result in a lot of dissent from existing stakeholders.  Or maybe people will like it?  

I think it's possible that a larger market cap could boost NEM capitalization significantly.  For one, there's probably people who are pricing NEM in just NXT and therefore the prices could hold to an extent if you boosted the total supply.  Your NEMstake would scale in this option and you would benefit from this market capitalization increase.
 

Then there is the psychological.   Look at the Doge effect - 90+ billion coins and it brought in many people who were able to afford millions.  Masses of people spending $10-$100 to become a is always going to be better than a dozen guys pumping in tens of thousands.

Doge I think did ok.  It wasn't the total supply itself in Doge that was controversial - it was the hyper inflation from PoW mining and then the instamine whales who got in early dumping on the new comers (which is arguably no different than NXT and a factor why people ceased coming to NXT.  Why buy something that never goes up because as soon as it rebounds some whale dumps?).


Not a lot not to like really. Worst case the supply equalizes the demand and we aren't really worse for the wear right? The important thing here is that it isn't like someone paid 50k nxt on Poloniex to get 1,000,000 and then gets screwed when it suddenly halves in value (worst case) as the supply is doubled. That would kind of piss me off. Anyone that has paid or will pay for a piece of the pie will be sorted in proportion. I guess I personally don't understand the mechanics of inflationary coins that well and the psychology it induces on the market in terms of value to make a good judgement other than a highly ignorant statement like "doubling the supply should halve the value per unit" in a perfectly efficient market.
sr. member
Activity: 478
Merit: 250
It's important to think about the implications of NEM supply on market cap: https://forum.nemcoin.com/index.php?topic=2531.msg6776#msg6776

In short, increasing to 8 billion coins should also increase our market cap by maybe $20 million at first.


This is completely wrong. Market cap will be exactly the same. The supply will double and each nemcoin will be worth half of current price.
hero member
Activity: 588
Merit: 500
Oh I certainly am not intending to offend anyone. What I'm saying is all things being equal (which appears to be the consensus from North American's and Europeans here?), 8 is as arbitrary as 4, but apparently is less upsetting to the largest number of people. It also seems like Asia just generally adapts quicker to new technology culturally than European and North American markets. I had Japanese friends laugh at our cell phones (this was the pre iPhone days) in the states and tell us they'd had features like that for years. "Every kid in Japan is already banking by phone" or whatever it was that now escapes me. I believe I read North America has the least inertia with broadband too despite being a major initial developer. I Believe I also read that North America severely lags behind Europe and Asia in math and science. I'm always reading about some viral technology thing going on in Asia that I have never even heard of. Some mobile app, cyborg conversions, biometric implants, whatever. On the other hand I see things like Facebook and Twitter as an American invention (for better or for worse). Maybe American's want to play bejeweled, post pictures of their food or check in to the gym but not take control of their personal finances or use cool prosthetics.

Granted this is somewhat baseless and purely on observation from the news, but it just seems like Asian markets adapt quicker to new ways of doing things, and therefore they seem the natural catalyst to break a cryptocurrency out of its infancy so long as it doesn't get under the noses of regulators too quickly. I remember all the trollbox FUD about "China banning exchanges!" and the purported associated crash of BTC to sub 1000, then 900, then 800 and so on levels earlier this year. There are assertions floating about in the interwebs that much of the value of BTC was Chinese nationals using it to bypass the strict limitations on moving currency in and out of the country. I would just easily believe it was Wall Street investors, drug dealers, and libertarians too, who knows. I would have to guess laundering money, whether criminal or benign in intent is a natural companion to the utility provided by Bitcoin.

If I have offended you with these statements my apologies in advance. For the record, I am in one of those "Slow" North American markets with crappy broadband before you accuse me of elitism.

Unfortunately, your view of Japan as a "fast-adapting hub of technology" is a very antiquated view of Japan. Japan has been lagging behind in the technology sector for years now, and I would say Japan is anything but "quick to adapt" when it comes to trying new things. Yes, we have NFC payments on our phones already, and we have a few things here and there that might seem "cutting edge", but in reality barely anyone here even knows how to use a PC at the most basic level unless they are trained on the job for it. I mean, I still have to FAX or snail mail most of my documents for business here as 99% of my clients refuse to accept digitally signed PDF files via e-mail.

Japan is, on the whole, scarily xenophobic and simply does not want to use any non-Japanese technology. It took years for Japanese people to warm up to non-Japanese cell phones (like the iPhone, which was a huge flop when it first hit the market here), Facebook (which only in the past couple of years has started to become more common than the Japanese-created SNS mixi), or even YouTube (which still I do not think is as popular as the Japanese-created video site niconico douga).

Anyway, I don't mean this to be a Japan-bashing post or anything like that... I just want to give you some perspective and remind you that America is still the leader of the world when it comes to technological innovation and adoption. Just because you have slow broadband does not mean you guys are losing the technology arms race. I know "the grass is always greener on the other side" and it is easy to fall into a sense of despair when you only cherry-pick the good things from every other country and only focus on the bad within your own, but reality usually tells a different story.
Jump to: