Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1766. (Read 2985265 times)

Come on guys. Let's be a bit more cordial here. A legitimate question was asked, in my opinion.

I'll give you my shot at an answer mrvegad.

I actually don't think everyone is going to begin with a 100% equal opportunity. To say such a thing would be unrealistic and is literally impossible under any system you could possibly devise (unless you constantly altered the total money supply based on the total population of the world and made sure to allocate the same amount of coins for everyone, at which point you would have a worthless coin). With that said, all we can do is try to give everyone the fairest chance possible.

I think one of the major aspects of NEM that makes this possible is the Proof of Importance algorithm. Bitcoin has Proof of Work, which has already been demonstrated to be an algorithm in which the common person can no longer take part in. Big, industrial miners control Bitcoin now and always will from now on (it is only going to get worse from here on out). Proof of Stake, which many altcoins use these days, is slightly more fair, but still greatly favors those who got in at the beginning and those who hoard massive amounts of coins. If you enter into any of these coins now or further down the road as time goes on (assuming prices rise), you will never be able to catch up to these big-time hoarders. Again, a similar problem to Bitcoin and other PoW coins.

PoI, which is unique to NEM, is arguably more fair than these other implementations because it gives anyone the chance to harvest blocks of NEM and collect fees, given you have a minimal amount of NEM (10k I believe? although I suppose this could be changed in the future if the price of NEM got too high). This system does not reward hoarding, and gives everyone a more even chance of harvesting blocks and earning NEM by participating in the network. At least, much better and much more fairly than any PoW or PoS coin can claim to.

That's my take on it. Anyone else can feel free to chime in with more.

Can someone explain like I am 5 why it is a good idea to make stakeholders wait 2 weeks before they are able to trade with the general public? I am not trying to rustle any feathers, but I am a little concerned. Thanks everyone.

I'm not talking about myself, you totaly missed my point.

Actually for NEM you didn't need money, if you jumped in at the first step. And you had a long time for doing that.

everybody begins with an equal opportunity

This is true as long as you:

1: Have money
2: Already know about cryptos.

The same can be said about a company that releases an stock IPO, if you have the money and know about the IPO then you have an equal opportunity.

I would like to hear plans for NEM on how it will get average joe involved. Do you expect them to buy NEM when they have no clue what it is or how it works?
How will people in third world countries get NEM?

Maybe I am misunderstanding what the NEM movement is, is it to help all people with financial freedom and equality of opportunity or just the ones that can afford it?

ETA in end of october - that would be awesome!

Thank you devs for your hard work.

Yes, we will post some official announcement once we have things ready.

Nice to have a date finally... Thankyou..
Good luck to the dev's in getting through this final stage.

One question - can you post here and/or in NXTFORUM clearly when those who have acquired NEMSTAKE will be able to convert after launch and what this process will be...

The last posts on this I have seen were from before NEM was under 'new management'...

Thanks,..

ooooohh an ETA 

Just to clarify things a bit. Our dev team is working very hard to put everything together and prepare for beta. Things are looking good at the moment as we are expecting beta features to hopefully be ready and implemented sometime by the end of September. That is the time when official beta will start. Once beta features are implemented and beta begins, a very important period of about 2-3 weeks of testing will follow, after which, if everything goes well, the long awaited distribution of real NEM coins and launch of NEM will happen. Again if everything goes well, distribution should happen sometime between 15-22 October.

Please note, however, that the above information is not set in stone and could be subject to change if anything unexpected should happen.

I understand this point of view. People who can have a positive influence and actually work towards the goals of NEM are different from random celebrities which is what I am against. If you are thinking about this route, Mark Cuban might be a good person to try and contact. He has said before publicly that he believes in cryptocurrency as a concept, but that he does not intend to invest or support Bitcoin because he is certain that something will come along that trumps it, and that there will likely be problems with BTC since it is the first technology of its kind (he is right). NEM could be something he might want to jump on board with, and he would be a very powerful person to bring into our community for sure.

I think you have claimed stake on AE,haven't you?

As we discussed many times, the idea with NEM is not that all should be equal, rather everybody begins with an equal opportunity but the outcome is free to be determined by each one of us, based on productivity and contributions. Indeed, the idea of giving some stakes away and strategically target instrumental people was also discussed. The reason we thought about doing it is not because some people are famous and they somehow deserve to receive a stake, but rather because some people would add a lot of value to NEM if they would join. In fact, important angel investors, entrepreneurs, developers, media people and other such individuals are necessary in order to really take NEM from the crypto space to the real world. So for example if instead of paying for press releases and media campaign we would be able to target and get Ashton Kutcher(which is a celebrity turned startup angel investor) interested in NEM by giving him a stake - he would be able to add a huge amount of value to the project because of his connections and ability to open doors for NEM which would otherwise be either impossible to unlocked or possible to unlock after a long periods of time. Consider only what some tweets from him could do for NEM - he has 16.4 mil followers, imagine how many people would hear about NEM. Indeed strategically targeting such people could be an effective guerilla move which could add huge value to NEM. Not because of fame but because of hyper-productivity and effectiveness some individuals would bring with them by joining the project.

Personally I like the SecureAE because it works similiar to counterwallet, pretty easy to use, and nothing to download. It really comes down to personal preference, although I am sure some may say that the Nxt client is more secure.

Hi everybody,

Is it already possible to obtain my stake?
Do you advise me to use my Secure Asset Exchange ID or my NXT wallet for the stake?
I see you handed out tokens aswell, did that stop or are you still doing this?

when is the launch?

Just because someone steals my phone where my wallets happens to reside doesn't mean he has access to my funds. NEM wallets are encrypted and therefore he'd either need to brake the encryption or know your password - just like it would be with a brainwallet only with a brainwallet he wouldn't need your phone in the first place

sounds great !
Maybe you and the gang can also push NCC

We can use some of these stakes for NEM faucet,like anyone who creates nem wallet gets 100 nem coins .It might help to increase nem population

Haha, I guess if someone wanted your wallet bad enough they would torture you for your brain wallet as well.

I agree, in a centralized system where people would be in control of your information (like a credit card version of what I described) would be terrifying.  In a decentralized client, however, your biometric information should never leave your device and fall into the hands of a third party. I am all for biometric technology as long as it stays in the hands of the INDIVIDUAL.

I want to be clear, I would not accept biometric identification from Apple, Google, or (the worst of all) the government.

Technology in this way is almost always two sided, people can use it for evil or peace, Identification, (or as in my example) privacy. I think it is always important to think about all the possible outcomes of your technology before entering development. Moral issues included.