NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 57.

gentlemand

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Quote from: satb on October 11, 2019, 04:21:38 AM

Do I understand this correctly that importing your NIS1 private key into Catapult will allow you to receive your snapshot balance from NIS1. Then what is the point of opt-in if you can do this manually yourself. Or is an opt-in required in order for your balance to be activated on Catapult?

I presume someone has to manually activate and send them to you. That's the only thing that can explain this requirement. Unless they maintain someone to do it for 5-10 years or more it's going to be a shitshow.

I can just about wrap my head around fucking off the stakeholders who missed the boat. There was plenty of warning and very little actual money on the line. That is not the case this time around.

I guess ultimately it's not a fork and XEM holders are being 'invited' to get new coins but this will just continue the PR problem.

lemonandfriesonetwo

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Quote from: satb on October 11, 2019, 04:21:38 AM

From the NEM support help: https://support.nem.help/hc/en-us/articles/360034476171-BASIC

22. QUESTION: What happens with Private Keys?

ANSWER: NIS1 private keys will work on Catapult post nemesis, the devs solved this approach a while ago to make it easier for holders to receive their Catapult tokens regardless of which mechanism is used for migrating XEM balances.

Do I understand this correctly that importing your NIS1 private key into Catapult will allow you to receive your snapshot balance from NIS1. Then what is the point of opt-in if you can do this manually yourself. Or is an opt-in required in order for your balance to be activated on Catapult?

satb

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forum.nem.io

From the NEM support help: https://support.nem.help/hc/en-us/articles/360034476171-BASIC

22. QUESTION: What happens with Private Keys?

ANSWER: NIS1 private keys will work on Catapult post nemesis, the devs solved this approach a while ago to make it easier for holders to receive their Catapult tokens regardless of which mechanism is used for migrating XEM balances.

Do I understand this correctly that importing your NIS1 private key into Catapult will allow you to receive your snapshot balance from NIS1. Then what is the point of opt-in if you can do this manually yourself. Or is an opt-in required in order for your balance to be activated on Catapult?

jelin1984

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https://forum.nem.io/t/migration-committee-open-letter-to-supernode-owners/23579

SUPERNODES OWNERS OF NEM MUST READ IT ASAP Roll Eyes

jkoil

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Nxt NEM

Quote from: gentlemand on October 09, 2019, 10:26:18 AM

Quote from: DenisZabar on October 09, 2019, 06:07:13 AM

I read about this migration. I still dont understand why they are switching to new chain?

And this: "there'll be a time limit on claiming coins on the new chain from the snapshot" smell like a legal theft of users coins who do not respond in time.

Basicly more coins for exchange owners, more coins to dump and take fiat.

For example, i have account on bitrrex with some amount of XEM wich i traded before. AFter chain swap if i dont respond in time coins will be takeover by exchange?

Thats how i understand whole situation. Please correct me if i am wrong.

Cos it's a better one? They're saying the old one will continue but they're going to have to sort a few things to keep people interested.

Yup. The time limit thing is not acceptable this time around in any circumstances. They're saying you need to manually opt in to receive a private key on the new network. I don't see why that can't either be automated forever or keep someone on to do it manually a few times a year if it's that labour intensive.

Dunno what the deal is with exchanges but I assume it'll be a simple process if they participate. Some may not.

And since it's a brand new chain it's possible it may start trading for zilch. Going on the past history of awareness, or lack thereof, no one's going to know or care what it is. A reboot of a fading chain may either be the new start it needs or turn it into the next NXT.

agree with your opinion about the time limit ...

... crypted messages... sent to every NEM-account. The message could contain the key to the new Catapult account.
Isn't that possible?

I have tried to read all the related posts in forum.nem.io, and comment this issue only after reading and understanding it Wink

Well, it looks like that I have to start commenting before accomplishing that project.

During these 4 years the development of crypto scene has apparently gone forward and created new concepts...

opt-in ...
"opt-in" ?
Can it be replaced by clear, basic English?

Many Nemsters are not native English-speakers and need to look translators or explanations like this
http://www.businessdictionary.com/definition/opt-in.html

But is that explanation the same as this NEM-opt-in ?

I hope this Catapult claming procedure will be clearer than the NEM's "clame the stake" procedure

gentlemand

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Quote from: DenisZabar on October 09, 2019, 06:07:13 AM

I read about this migration. I still dont understand why they are switching to new chain?

And this: "there'll be a time limit on claiming coins on the new chain from the snapshot" smell like a legal theft of users coins who do not respond in time.

Basicly more coins for exchange owners, more coins to dump and take fiat.

For example, i have account on bitrrex with some amount of XEM wich i traded before. AFter chain swap if i dont respond in time coins will be takeover by exchange?

Thats how i understand whole situation. Please correct me if i am wrong.

Cos it's a better one? They're saying the old one will continue but they're going to have to sort a few things to keep people interested.

Yup. The time limit thing is not acceptable this time around in any circumstances. They're saying you need to manually opt in to receive a private key on the new network. I don't see why that can't either be automated forever or keep someone on to do it manually a few times a year if it's that labour intensive.

Dunno what the deal is with exchanges but I assume it'll be a simple process if they participate. Some may not.

And since it's a brand new chain it's possible it may start trading for zilch. Going on the past history of awareness, or lack thereof, no one's going to know or care what it is. A reboot of a fading chain may either be the new start it needs or turn it into the next NXT.

lemonandfriesonetwo

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Quote from: DenisZabar on October 09, 2019, 06:07:13 AM

I read about this migration. I still dont understand why they are switching to new chain?

And this: "there'll be a time limit on claiming coins on the new chain from the snapshot" smell like a legal theft of users coins who do not respond in time.

Basicly more coins for exchange owners, more coins to dump and take fiat.

For example, i have account on bitrrex with some amount of XEM wich i traded before. AFter chain swap if i dont respond in time coins will be takeover by exchange?

Thats how i understand whole situation. Please correct me if i am wrong.

DenisZabar

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Quote from: gentlemand on October 08, 2019, 07:49:42 PM

Catapult migration FAQ here - https://support.nem.help/hc/en-us/sections/360007012931-Catapult-Migration-FAQ

I don't really see how else this could've been done but there's still plenty of things that smell a bit.

A LOT of expectations are being put on exchanges and there'll be a time limit on claiming coins on the new chain from the snapshot. That already seems like a world of pain in waiting. It's quite remarkable how many original stakeholders were in comas or on multi-year military deployments with absolutely no internet access whatsoever until the time limit passed for claiming them.

One of this project's issues has always been that's it's not really all that decentralised and the centralisation that there is is not all that helpful either. This process appears to continue that tradition.

I read about this migration. I still dont understand why they are switching to new chain?

And this: "there'll be a time limit on claiming coins on the new chain from the snapshot" smell like a legal theft of users coins who do not respond in time.

Basicly more coins for exchange owners, more coins to dump and take fiat.

For example, i have account on bitrrex with some amount of XEM wich i traded before. AFter chain swap if i dont respond in time coins will be takeover by exchange?

Thats how i understand whole situation. Please correct me if i am wrong.

lemonandfriesonetwo

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Quote from: gentlemand on October 08, 2019, 07:49:42 PM

Catapult migration FAQ here - https://support.nem.help/hc/en-us/sections/360007012931-Catapult-Migration-FAQ

I don't really see how else this could've been done but there's still plenty of things that smell a bit.

A LOT of expectations are being put on exchanges and there'll be a time limit on claiming coins on the new chain from the snapshot. That already seems like a world of pain in waiting. It's quite remarkable how many original stakeholders were in comas or on multi-year military deployments with absolutely no internet access whatsoever until the time limit passed for claiming them.

One of this project's issues has always been that's it's not really all that decentralised and the centralisation that there is is not all that helpful either. This process appears to continue that tradition.

gentlemand

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Activity: 2590

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Welt Am Draht

Catapult migration FAQ here - https://support.nem.help/hc/en-us/sections/360007012931-Catapult-Migration-FAQ

I don't really see how else this could've been done but there's still plenty of things that smell a bit.

A LOT of expectations are being put on exchanges and there'll be a time limit on claiming coins on the new chain from the snapshot. That already seems like a world of pain in waiting. It's quite remarkable how many original stakeholders were in comas or on multi-year military deployments with absolutely no internet access whatsoever until the time limit passed for claiming them.

One of this project's issues has always been that's it's not really all that decentralised and the centralisation that there is is not all that helpful either. This process appears to continue that tradition.

jelin1984

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https://forum.nem.io/t/catapult-elephant-update-part-3/23642

lemonandfriesonetwo

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Quote from: DaMut on October 04, 2019, 06:13:23 AM

Quote from: jelin1984 on October 04, 2019, 03:26:17 AM

https://forum.nem.io/t/migration-committee-update-2/23633/2

Based on the announcement Nem Catapult will be released in Q1 2020, there is no exact date for this?
the testing will be done in approximately for 3 months, does not that mean there is a possibility for it to get delayed to Q2 2020?
And based on the news I followed on the Telegram channel before we are going to see it(Nem Catapult) live this fall 2019, any reason why the release is postponed?

DaMut

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Quote from: jelin1984 on October 04, 2019, 03:26:17 AM

https://forum.nem.io/t/migration-committee-update-2/23633/2

Based on the announcement Nem Catapult will be released in Q1 2020, there is no exact date for this?
the testing will be done in approximately for 3 months, does not that mean there is a possibility for it to get delayed to Q2 2020?
And based on the news I followed on the Telegram channel before we are going to see it(Nem Catapult) live this fall 2019, any reason why the release is postponed?

jelin1984

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https://forum.nem.io/t/migration-committee-update-2/23633/2

lemonandfriesonetwo

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Quote from: pressing207 on October 02, 2019, 04:26:13 AM

Quote from: jelin1984 on September 28, 2019, 09:34:55 AM

NEM FOUNDATION SEPTEMBER 2019 UPDATE Kiss

https://forum.nem.io/t/nem-foundation-update-september-2019/23549

I wish good luck!

pressing207

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Quote from: jelin1984 on September 28, 2019, 09:34:55 AM

NEM FOUNDATION SEPTEMBER 2019 UPDATE Kiss

https://forum.nem.io/t/nem-foundation-update-september-2019/23549

I wish good luck!

jelin1984

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Migration Committee - Open Letter to Supernode Owners Kiss

https://forum.nem.io/t/migration-committee-open-letter-to-supernode-owners/23579

taibas

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Proof-of-Stake Blockchain Network

Quote from: jelin1984 on September 28, 2019, 09:34:55 AM

NEM FOUNDATION SEPTEMBER 2019 UPDATE Kiss

https://forum.nem.io/t/nem-foundation-update-september-2019/23549

I look at the problems that the fundation had with the money, they probably decided.
And so we are waiting for the approach of the catapult., As I understand the public release very soon.

jelin1984

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NEM FOUNDATION SEPTEMBER 2019 UPDATE Kiss

https://forum.nem.io/t/nem-foundation-update-september-2019/23549

DenisZabar

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Quote from: freigeist on September 21, 2019, 01:19:25 PM

Quote from: gsxrl3oi on September 20, 2019, 10:13:13 PM

So what is going on with the migration?
Can we leave our xem in the original wallet.

Is not yet defined there is a discussion still going on here
on the official forum following the announcement that was made:
https://forum.nem.io/t/migration-committee-community-update-1/23476

You can also check the
decision making process for the migration that was initiated here on github
https://github.com/nemtech/NIP/blob/master/NIPs/nip-0008.md

In my opinion whatever get decided is it best that you keep your XEM
in your wallet where you have control of your private keys.

Always keep your coins in your wallet. Trust me. Am a ex Mt. Gox user Wink

Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 57. (Read 2984910 times)