NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 84.

jkoil

hero member

Activity: 834

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Nxt NEM

Quote from: DenisZabar on January 31, 2019, 02:18:06 PM

Dump already started https://poloniex.com/exchange#btc_xem

Also https://www.coindesk.com/nem-foundation-layoffs-xem-crypto

Whales start the drop from "bad" news to buy from lower levels. An old trick

Edit: when looking the curve of the last year, the volume of today is not much.
... ofc it will grow, when the whales read this Wink

DenisZabar

sr. member

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Merit: 254

Dump already started https://poloniex.com/exchange#btc_xem

Also https://www.coindesk.com/nem-foundation-layoffs-xem-crypto

satb

member

Activity: 202

Merit: 30

forum.nem.io

This is the post-V1fund which is one of many funds:

http://chain.nem.ninja/#/search/NDEVPOSK4OMR4PRTLYFHX4W5QTOND7TZDT2DTU4Q

There's enough XEM in there to last much much longer than a month, and it's not the only fund. It appears that this is more of a liquidity issue than a lack of funds.

There's ~ 3 billion XEM spread out over the various funds.

https://nemnodes.org/richlist/

jkoil

hero member

Activity: 834

Merit: 524

Nxt NEM

Quote from: lemonandfriesonetwo on January 31, 2019, 12:52:59 PM

Call it for what it is:
We have been scammed.
Get rid of the foundation.
Reward the developers and hire a marketing team.
Foundation is just a black hole for $$$.

Quote

NEMSecretariatOffice: "...We saw very little accountability for funds and questionable ROI, leading to a burn rate of 9 million XEM per month."

Maybe true, maybe not.
It is true that honey entices bees and other insects.
Among of them exist, sometimes, individuals who are more concerned about their personal benefits than the community.
That has been seen in many big, international companies.

If the NEM Foundation has been on the wrong rails, it is quite quickly corrected - it is much easier than turning big ships.

lemonandfriesonetwo

member

Activity: 653

Merit: 11

Call it for what it is:
We have been scammed.
Get rid of the foundation.
Reward the developers and hire a marketing team.
Foundation is just a black hole for $$$.

Quote

NEMSecretariatOffice: "...We saw very little accountability for funds and questionable ROI, leading to a burn rate of 9 million XEM per month."

freigeist

hero member

Activity: 1110

Merit: 534

Quote from: satb on January 31, 2019, 10:54:43 AM

If the Dev hadn't called up the foundation in that post, the old members of the foundation would have carried on as they were and things would have been a lot worse. In my opinion it was a positive thing and a change of foundation is what was needed. Drastic changes now have to be made to make the foundation more streamlined and future proof. Short term pain for long term growth.

That is true.
But if developers had issues with the foundation they should had called up earlier
that would cause more pressure from holders earlier to resolve the issues.

I think that is also our fault we didn't pressure them more to release
info ON OFFICIAL FORUM and to be accountable Sad

There were some news releases here and there ever other communication channels
which gave the impression that something was happening but there was not
clear transparency about the spending of the funds.

I hope this new elected foundation will change that.
I also advise developer not to be silent and share the problem they have with the community.

lemonandfriesonetwo

member

Activity: 653

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Quote from: satb on January 31, 2019, 11:23:26 AM

Quote from: lemonandfriesonetwo on January 31, 2019, 11:10:13 AM

Get rid of the foundation, crowdfund a marketing team and help the developers still on board.

It's obvious the foundation is just a low effort scam grab cash.

That is an option as an alternative to funding the foundation with the community fund.

Yes, let's reward the hard working developers and get rid of these "managers".

It's obvious the foundation is just there for the $$$. Disband it, use the funds for developers and an independent marketing team that the community manages and votes on.

Remember: It's "NEM - New Economy Movement", not "NEM - Let's run it like a cheap restaurant"

satb

member

Activity: 202

Merit: 30

forum.nem.io

Quote from: lemonandfriesonetwo on January 31, 2019, 11:10:13 AM

Get rid of the foundation, crowdfund a marketing team and help the developers still on board.

It's obvious the foundation is just a low effort scam grab cash.

That is an option as an alternative to funding the foundation with the community fund.

nutildah

legendary

Activity: 3010

Merit: 8114

Quote from: freigeist on January 31, 2019, 09:35:51 AM

Quote from: nutildah on January 31, 2019, 08:59:44 AM

Falling from 80 cents to 5 cents isn't "almost the same" regardless of how you spin it.

It fucking crashed. Not that the underlying tech isn't great and there isn't tremendous room for growth, it is, and there is. However, NEM, like most coins, was way too high one year ago, and came crashing down with every single other coin.

Suddenly today crashed even more!
What to do now? Panic buy or panic sell?! Huh

Well, let's admit it: competition in the crypto space is brutal. Without any real catalysts to encourage broad speculation in the marketplace, NEM (like anything else) will have to depend on increases in real-world adoption to gain any positive traction. However, if and when another strong bull market manifests itself, then it will likely be one of the prime recipients of a capital injection.

Basically I don't know and your guess is as good as anybody's.

fragout

legendary

Activity: 1279

Merit: 1018

The newly elected president of the NEM Foundation, Alex Tinsman, told CoinDesk Wednesday the Singapore-based NEM Foundation now intends to submit a funding request to the NEM community fund for 160 million tokens (worth roughly $7.5 million), money that would be used to rescue the organization.

It will be different this time i'm sure

lemonandfriesonetwo

member

Activity: 653

Merit: 11

Why the foundation doesn't come on bitcointalk and explain this?

They just pushed this idiotic idea of a "foundation" onto us without consulting those of us who started with NEM.

If foundation doesn't want to leave, then let's show them what can be done. A doxxing would be in line, until they relinquish power to the developers. The developers are the real shot callers here, not some business major with 2 years of experience running fast food restaurants.

/End rant

rendravolt

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Activity: 2156

Merit: 521

Quote from: gentlemand on January 31, 2019, 10:55:53 AM

Quote from: satb on January 31, 2019, 10:54:43 AM

If the Dev hadn't called up the foundation in that post, the old members of the foundation would have carried on as they were and things would have been a lot worse. In my opinion it was a positive thing and a change of foundation is what was needed. Drastic changes now have to be made to make the foundation more streamlined and future proof. Short term pain for long term growth.

It's definitely positive long term. Shame it had to come to that though and there'll be more short term shit sandwich to eat.

Indeed, in fact everything will be on the long-term path and very minimal possibility for a profitable short term, especially with the situation in almost all altcoins like today.

lemonandfriesonetwo

member

Activity: 653

Merit: 11

Get rid of the foundation, crowdfund a marketing team and help the developers still on board.

It's obvious the foundation is just a low effort scam grab cash.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: satb on January 31, 2019, 10:54:43 AM

If the Dev hadn't called up the foundation in that post, the old members of the foundation would have carried on as they were and things would have been a lot worse. In my opinion it was a positive thing and a change of foundation is what was needed. Drastic changes now have to be made to make the foundation more streamlined and future proof. Short term pain for long term growth.

It's definitely positive long term. Shame it had to come to that though and there'll be more short term shit sandwich to eat.

satb

member

Activity: 202

Merit: 30

forum.nem.io

If the Dev hadn't called up the foundation in that post, the old members of the foundation would have carried on as they were and things would have been a lot worse. In my opinion it was a positive thing and a change of foundation is what was needed. Drastic changes now have to be made to make the foundation more streamlined and future proof. Short term pain for long term growth.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: sam_ti_dyatel on January 31, 2019, 08:22:20 AM

Guys, you can express displeasure with these scammers here https://twitter.com/Jaguar0625

comment from Jaguar0625
"Yet more drama from the foundation that has no impact on the actual development 🤷‍♂️.
hint: most developers don't work for the foundation"

How devs relate to foundation? The second one is for marketing only?

The foundation's job is to spread use of the public NEM chain.

The developers aren't paid by the foundation or employed by them. The idea was that the foundation would liaise with the developers and together they would work on pushing the public chain.

What started off NEM's run of disaster and/or change was the developers calling out the foundation for doing nothing about bringing the public Catapult upgrade forward.

https://forum.nem.io/t/foundation-faq-core-dev-perspective/20363

It's been downhill since then. The only bright spot has been the change of foundation leadership who are committed to Catapult however they've also discovered the money is largely gone.

freigeist

hero member

Activity: 1110

Merit: 534

Quote from: nutildah on January 31, 2019, 08:59:44 AM

Falling from 80 cents to 5 cents isn't "almost the same" regardless of how you spin it.

It fucking crashed. Not that the underlying tech isn't great and there isn't tremendous room for growth, it is, and there is. However, NEM, like most coins, was way too high one year ago, and came crashing down with every single other coin.

Suddenly today crashed even more!
What to do now? Panic buy or panic sell?! Huh

nutildah

legendary

Activity: 3010

Merit: 8114

Quote from: lemonandfriesonetwo on January 30, 2019, 02:05:13 PM

Quote from: nutildah on January 30, 2019, 12:37:20 AM

Uh... "almost the same".. are you nuts? One year ago it was 80 cents a coin, today its $0.047 a coin.

"Lets take random time gaps and claim blah blah."
It's steady and stable, in a decline so far but it has been a stable decline in price. Not a crash like you are trying to suggest.

"Random time gaps" aren't so random. One year, the point being argued was an exactly one year time frame.

Quote from: lemonandfriesonetwo on January 29, 2019, 12:37:17 PM

Quote from: KloNEM on January 29, 2019, 09:50:40 AM

Quote from: lemonandfriesonetwo on January 29, 2019, 06:51:39 AM

Prices go up and down all over the place, NEM stays almost the same. Interesting actions I would say.

Sorry, this is simply not true. Year ago, 1 NEM was at 12000 sat, now it's about 1300 satoshis. As BTC is 4-5x lower than before a year, it means ~ 40x decrease. And as we were on #4-#5 position year ago, now we're at #18 and constantly falling further. Maybe it's (the position on CMC) just means that here are more projects now, that are more interesting / overhyped / whatever ... despite of this or that, it's sad at all.

You haven't kept an eye on the USD price apparently. Again, it's almost the same.

Falling from 80 cents to 5 cents isn't "almost the same" regardless of how you spin it.

It fucking crashed. Not that the underlying tech isn't great and there isn't tremendous room for growth, it is, and there is. However, NEM, like most coins, was way too high one year ago, and came crashing down with every single other coin.

sam_ti_dyatel

full member

Activity: 1176

Merit: 116

Guys, you can express displeasure with these scammers here https://twitter.com/Jaguar0625

comment from Jaguar0625
"Yet more drama from the foundation that has no impact on the actual development 🤷‍♂️.
hint: most developers don't work for the foundation"

How devs relate to foundation? The second one is for marketing only?

cool4y

member

Activity: 494

Merit: 12

"The XEM exchange rate has suffered catastrophic drops from this time a year ago, just as many other ambitious cryptocurrency projects have suffered, now the NEM Foundation is facing challenging budget decisions. We are in a tough spot like many others in this space. It is our duty to act quickly to ensure the longevity of the NEM ecosystem and development.

The reality of having one month left in funding means we won’t be able to support our current headcount, partnerships, and projects. We need to put everything on hold. This is painful since it hurts good people and partners, but the new council is aligned that we need to be transparent with what is happening behind the scenes of the NEM Foundation."

Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 84. (Read 2984910 times)