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Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1759. (Read 2985503 times)

hero member
Activity: 980
Merit: 1001
Hi Guys,

I was going over some older stuff regarding purchasing NEM stakes on NXT AE and I saw this reply from Utopian:

"You can buy as many as you want but a cap of 2 million NEM (2 tokens) will be put on each account converting back to NEM. Explanation: if one account buys 40 NEMstake tokens then this amount has to be broken in to 20 separate accounts during the conversion process in both sending tokens and receiving NEM back. This will increase the conversion cost and management cost and hopefully put a dampener in the desire to have a lot of NEMtoken.

(https://bitcointalksearch.org/topic/m.6971117)

What are those "conversion cost and management cost" and how high are they?

I guess he was talking about the tx fees for splitting and then merging everything.
sr. member
Activity: 338
Merit: 250
Hi Guys,

I was going over some older stuff regarding purchasing NEM stakes on NXT AE and I saw this reply from Utopian:

"You can buy as many as you want but a cap of 2 million NEM (2 tokens) will be put on each account converting back to NEM. Explanation: if one account buys 40 NEMstake tokens then this amount has to be broken in to 20 separate accounts during the conversion process in both sending tokens and receiving NEM back. This will increase the conversion cost and management cost and hopefully put a dampener in the desire to have a lot of NEMtoken.

(https://bitcointalksearch.org/topic/m.6971117)

What are those "conversion cost and management cost" and how high are they?
member
Activity: 69
Merit: 10
such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...

what's the point to dump at 20% less than last buy for something that went up like 10%

create a  small panic sell and buy back at 90% - 95% buy a silver coin with the profit Smiley
member
Activity: 60
Merit: 10
such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...

what's the point to dump at 20% less than last buy for something that went up like 10%
hero member
Activity: 588
Merit: 500
such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...

It's not THAT much higher than it was yesterday. 7500 to 8200 shouldn't be enough to cause people to dump a ton of NEMstake. If it had doubled, then maybe I'd understand.
hero member
Activity: 700
Merit: 501
1000% ROI Masternode Coin
such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Look at the NXT/BTC price...
hero member
Activity: 588
Merit: 500
such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.

Not weird, either just amateur investors, people who needed funds right away for some reason, or someone trying to manipulate the market. Typical stuff. Tongue
member
Activity: 60
Merit: 10
such a weird day on the AE, someone buy like 10 stakes and jam the price to 29k, then people start to dump at 25k buy orders lol.
legendary
Activity: 866
Merit: 1002
I would like to invite all of you to join in for choosing the NEM currency symbol http://forum.nemcoin.com/index.php?topic=2349.0.
What do you think about this one?



How about:

No, we should rather go with
hero member
Activity: 497
Merit: 501
Regarding the discussion about the currency symbol, I'll copy and paste what I wrote on the NEM forums here for everyone to discuss.

Quote
Theoretically a vote should not cause any drama. The majority wins, end of story. This is how a democratic system works. However, with that being said, having a community vote on something like this may be flawed, and I will explain why.

I've seen many other cryptocurrencies voting on things related to design and aesthetics. However, the reality is that most people here and in general have no experience in this field. Art and design is a specialized field, just like anything else. Having a vote on something like a logo or a currency symbol is something that should be left up to a trusted professional. Otherwise, it would be like voting on specific changes to the codebase when the majority of the community does not even know the first thing about coding.

Many people refuse to believe that art/design is something that can only be done by a professional. Everyone thinks they just inherently know what looks good and what does not, but that simply is not true. I feel that any decision for NEM related to design aesthetics be left to a trusted professional in that field, or at least someone who has demonstrated that they have the knowledge required to make those decisions. People are always going to complain about such a decision because it does not fit what they feel looks good in their eyes. But those are untrained eyes, and such an opinion should be completely disregarded (at least, that's how I feel about it).

I only say this as someone who has a faint background in art and design (I am an artist in my spare time and have a bit of formal training), and I know all too well how people without the requisite training can be severely misguided in terms of what makes an effective design and what does not.

Anyway, that's just my opinion. If the community would prefer to have a vote for this sort of thing, then that is not my decision to make. Just wanted to throw my thoughts into the mix. Smiley
I agree with you that design is a specialized field and only professionals have the knowledge and training to recognize "good" design.
However, the currency symbol is for the eye of the masses. If a designer makes a great design according to his experience and a great majority of the community thinks it looks like sh*t, it doesn't fit to a product that aims for mass adoption. If you have enough voices of lay persons against/for a design within the community you can assume it's (approximately) the same oppinion as the rest of the world will have (excluding all other professionals Tongue ).

I agree. The best course of action is to have a designer create multiple symbols and have the people vote.


.....so, basically, what NEM did.
member
Activity: 101
Merit: 10
Regarding the discussion about the currency symbol, I'll copy and paste what I wrote on the NEM forums here for everyone to discuss.

Quote
Theoretically a vote should not cause any drama. The majority wins, end of story. This is how a democratic system works. However, with that being said, having a community vote on something like this may be flawed, and I will explain why.

I've seen many other cryptocurrencies voting on things related to design and aesthetics. However, the reality is that most people here and in general have no experience in this field. Art and design is a specialized field, just like anything else. Having a vote on something like a logo or a currency symbol is something that should be left up to a trusted professional. Otherwise, it would be like voting on specific changes to the codebase when the majority of the community does not even know the first thing about coding.

Many people refuse to believe that art/design is something that can only be done by a professional. Everyone thinks they just inherently know what looks good and what does not, but that simply is not true. I feel that any decision for NEM related to design aesthetics be left to a trusted professional in that field, or at least someone who has demonstrated that they have the knowledge required to make those decisions. People are always going to complain about such a decision because it does not fit what they feel looks good in their eyes. But those are untrained eyes, and such an opinion should be completely disregarded (at least, that's how I feel about it).

I only say this as someone who has a faint background in art and design (I am an artist in my spare time and have a bit of formal training), and I know all too well how people without the requisite training can be severely misguided in terms of what makes an effective design and what does not.

Anyway, that's just my opinion. If the community would prefer to have a vote for this sort of thing, then that is not my decision to make. Just wanted to throw my thoughts into the mix. Smiley
I agree with you that design is a specialized field and only professionals have the knowledge and training to recognize "good" design.
However, the currency symbol is for the eye of the masses. If a designer makes a great design according to his experience and a great majority of the community thinks it looks like sh*t, it doesn't fit to a product that aims for mass adoption. If you have enough voices of lay persons against/for a design within the community you can assume it's (approximately) the same oppinion as the rest of the world will have (excluding all other professionals Tongue ).
sr. member
Activity: 336
Merit: 260
Very true. Also, someone just bought up quite a bit of NEMstake. Tongue

Wasn't me, I bought a little a couple of months ago, just enough to keep me interested how it develops, hopefully we get to see it soon on live net Smiley
hero member
Activity: 588
Merit: 500
If you have forged 2 blocks your balance can't be that low Smiley

With 50k you should be able to forge 1 block a week on average, dispersed over time performance. It could go two-three weeks with no blocks and then hit 3 blocks in one week, that's why only longer timeframes stats can give a clear picture.

Of course, I'm not sure if I would call 50k NXT "low" necessarily. That's a decent chunk of change for most people, especially investing in such a high-risk asset like NXT or any crypto. That is, unless you got in on NXT when it was way cheaper than it is now.

Depends on what you compare with. If you compare with Bitcoin mining gear, 50k NXT works out to only $2000 of hardware, which wouldn't get you far and you wouldn't be able to mine a single block in Bitcoin and even if you mine through a pool your investment would hardly be profitable. But in NXT you can, and since NXT is on the way to dominate crypto currencies and overtake Bitcoin, investing $2000 now for the lifetime privilege of forging 1 block per week, forever, is not that high a price Smiley

Very true. Also, someone just bought up quite a bit of NEMstake. Tongue
sr. member
Activity: 336
Merit: 260
If you have forged 2 blocks your balance can't be that low Smiley

With 50k you should be able to forge 1 block a week on average, dispersed over time performance. It could go two-three weeks with no blocks and then hit 3 blocks in one week, that's why only longer timeframes stats can give a clear picture.

Of course, I'm not sure if I would call 50k NXT "low" necessarily. That's a decent chunk of change for most people, especially investing in such a high-risk asset like NXT or any crypto. That is, unless you got in on NXT when it was way cheaper than it is now.

Depends on what you compare with. If you compare with Bitcoin mining gear, 50k NXT works out to only $2000 of hardware, which wouldn't get you far and you wouldn't be able to mine a single block in Bitcoin and even if you mine through a pool your investment would hardly be profitable. But in NXT you can, and since NXT is on the way to dominate crypto currencies and overtake Bitcoin, investing $2000 now for the lifetime privilege of forging 1 block per week, forever, is not that high a price Smiley
hero member
Activity: 588
Merit: 500
If you have forged 2 blocks your balance can't be that low Smiley

With 50k you should be able to forge 1 block a week on average, dispersed over time performance. It could go two-three weeks with no blocks and then hit 3 blocks in one week, that's why only longer timeframes stats can give a clear picture.

Of course, I'm not sure if I would call 50k NXT "low" necessarily. That's a decent chunk of change for most people, especially investing in such a high-risk asset like NXT or any crypto. That is, unless you got in on NXT when it was way cheaper than it is now.
sr. member
Activity: 336
Merit: 260
If you have forged 2 blocks your balance can't be that low Smiley

With 50k you should be able to forge 1 block a week on average, dispersed over time performance. It could go two-three weeks with no blocks and then hit 3 blocks in one week, that's why only longer timeframes stats can give a clear picture.
hero member
Activity: 980
Merit: 1001
"Mining" has been out of the grasp of the average person for quite some period now.

Yep! +1

Actually I would say from the beginning.  Today we have all these mining tutorials and most people still can't figure out mining.  Go back 5 years and there were no mining tutorials back then (although the typical computer was certainly capable of CPU mining - but if the owner did not know how to mine then it's a moot point).

This is compared to NEM where you click the harvest button and that's all it takes to get started, no tutorials (no learning curve) and you can do this on any computer.  Harvesting in NEM is better than Bitcoin mining in 2009 (before people were priced out of the hardware or had to figure out ASICs, mining pools, which hardware to use, et cetera).

Very good point. I tried to mine quite a few times.  Came really close a couple of times with a miner actually seemingly running, but didn't get a block. 

I have also forged two NXT blocks just from clicking a button and leaving the client running, but both times my fees were 0.  My account balance is just way to low. 

If you have forged 2 blocks your balance can't be that low Smiley
legendary
Activity: 1232
Merit: 1001
mining is so 2012-2013
"Mining" has been out of the grasp of the average person for quite some period now.

Yep! +1

Actually I would say from the beginning.  Today we have all these mining tutorials and most people still can't figure out mining.  Go back 5 years and there were no mining tutorials back then (although the typical computer was certainly capable of CPU mining - but if the owner did not know how to mine then it's a moot point).

This is compared to NEM where you click the harvest button and that's all it takes to get started, no tutorials (no learning curve) and you can do this on any computer.  Harvesting in NEM is better than Bitcoin mining in 2009 (before people were priced out of the hardware or had to figure out ASICs, mining pools, which hardware to use, et cetera).

Very good point. I tried to mine quite a few times.  Came really close a couple of times with a miner actually seemingly running, but didn't get a block. 

I have also forged two NXT blocks just from clicking a button and leaving the client running, but both times my fees were 0.  My account balance is just way to low. 
legendary
Activity: 1232
Merit: 1001
mining is so 2012-2013
Sorry for extra post but i noticed an important thing - the stakeholder list is not working, look at https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdFRROFFGVUpwcFFXcHVCdGc0a3NuQVE&usp=drive_web#gid=10 it gives error code... All links to google docs published in many threads and at NEM website give error code.

I don't know where you got the url, but try this : https://docs.google.com/spreadsheet/ccc?key=0Ak91SD0veCeddDdmTkdaWV8zbHp2dWlodDVEVUItbXc&usp=sharing#gid=10

That link worked for me. 

It is always fun to look at my name on that list and smile. hahaha
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