Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 973. (Read 2985369 times)

Who cares what banks do. I personally never expected banks to use cryptocurrencies and I don't even care about what the whole financial world does with regards to crypto. Let them have their private chains.
The real value will come from things that are not yet mainstream. The financial part is just one layer of the blockchain onion.

Once the technology is more mature nearly every company could benefit from using blockchain tech, and that's where the value will come from.

Give it some time, once people figure out they can prevent cheaters and scammers by using blockchain and do it in a cost effective way this thing will boom, banks or no banks...

Try this - completely close down Nem

Navigate to -  C:/users/yourpcname/Nem/ncc   then delete 'accounts_cache_mainset.json (save it somewhere first just to be safe)

Restart the Nem client

Hopefully it will work now - this keeps happening to me, and this seems to fix things

Loading blocks from db

Then

Booting NIS... (at block 92341)

And

NIS is running (Local node not booted, NCC is running.

I have this issue for months now. Can't sync.

Only problem is banks are now designing their own blockchains that are closed source and centralised.

This is not going to help Bitcoin or any crypto if the banks go down that path...

that's right. on nem given a timepoint sees everything as a simple coin messages and multisig. therefore now for it nobody will give much. therefore i also spoke about low price up to 1 sat in moments of maximum falling because of low buy volume. until all functions aren't postponed from testnet, price and will remain low. know about it now only few. when all functions start working, there will be marketing company, here then there will be raise in price. only to what level so far anybody can't tell definitely. demand of real finance companies, banks, and their numerous clients needing xem will determine every day further price of xem as to fuel without which cheapest won't work in world international money transfers in fiat currencies which cash will be considered.

Well..... I guess that is probably about true.  It is so hard to really know.  Right now the live net at first glance it just really has a coin and messages.  As far as a cryptocurrency goes, that isn't anything ground breaking or really news worthy.  Good think we don't consider NEM as a coin, nor has it really ever been planned to be that.  And..... how NEM is doing things with a new platform with lots of extras all around supporting and building a solid foundation for its feature set as a blockchain is very impressive to me, and the stuff on the testnet that is more or less ready to be launched as well as other things being tested actually is quite impressive.  For instance Mijin now is at 15 second blocks and 100 tx/s on its testnet.  Personally, I think 500 satoshis (at the current rate of fiat <-> btc) is actually low to me for the long term forecast.  But that is LONGTERM, not next month.  Although I have to say, things in the blockchain scene are really starting to pick up behind the scenes.  Central banker from very powerful nations are looking into blockchains right now.     

I've already predicted some months ago in this thread ( can't find the post on the fly ) that the fair XEM price is around 30 Sats for what it offers by now.
On the longterm ( if devs hold what they've promised ), the fair value is 500 Sats and above.

When did the price start to go nuts like this? 33 Satoshis? 

Besides, cost of managing cash is expensive. Biggest challenge is third world countries where these citizens are not connected. Cash will still need to be circulated there for a while more.

they constantly reduce quantity of ATM and in offices of banks will gradually cease to perform operations with cash. in total cash will become non-cash. on this background there will be gradually new banks. they will be constructed on blockchain and cash only in decentralized look will already be in fact. thus users of such banks will be completely identified that everything was by the international rules and new banks working at blockchain had no problems connected with that they will be called by cash.

I think we can expect cash to be outlawed in many countries before too long. Governments desire complete control.

recently news left that against terrorist threat Europe wants to forbid all cryptocurrencies and to take them under rigid control as they are sponsors of new international terrorist organization isis created by artificially United States for achievement of purposes for example connected with future ban on cryptocurrencies and toughenings of their control. former head of fed Ben told recently that governments will fight against cryptocurrencies which have anonymity in connection with hung threat of world terrorism. there will be only those cryptocurrencies at which not anonymous devs and each user it is identified in system. nem will help to carry out identification of each user banks which will work at blockchain nem. all this speaks about big future of nem. in everything there will be a close cooperation with governments and banks. each user of nem in future will be surely identified if it uses services of banks. it will conform to all international requirements and huge attention will be drawn to nem. nem is smoothly integrated into world economy without competitive fight against dollar and banks.

it's correct way. xem automatically becomes fuel for fiat currencies. demand will be among banks on it because of need. and if to choose a way of xem as new world currency, here won't be needs in xem. there will be only one speculation.

in future i hope many banks will be connected to nem blockchain. they that will also be regular customers of xem for reason that each money transfer is paid by commission at a rate of 1 xem. here even not only banks will have a constant need in xem, but also at clients of these banks. xem fuel of international transfers. if we do fuel of xem, nobody will consider it one more in world currency. and it means that xem won't participate in this fight against dollar which is conducted by all other cryptocurrencies like btc. they have no future if they oppose dollar. they will die and xem as fuel of dollar remains. quite so it is necessary to position itself. not war and competition to dollar and banks, and on contrary strong friendship and close cooperation with dollar and banks. in that case dollar and banks will always need xem. and all this without coercion. in future to me hundreds of thousands various large and small banks which are working at blockchain nem and constantly using xem fuel as payment of fees for transactions seem.

Blockchain technology can be used to give more control to banking institutions than they have now, while reducing costs at the same time.

Interesting read:

https://uk.news.yahoo.com/jon-matonis-banking-cartels-could-184110328.html#UtmUNHm

+1 network effect...like IPv4

Once people realize that the value in technology lies in its network effect, then Bitcoin will win. In the meantime, people will underrate it, laugh at it, deny it, avoid it, ignore it.

There was no competition to bitcoin and once it was picked up by media it rocketed up. It's not the situation anymore with a bazillion cryptos begging for attention. It's likely most of these coins and developers will never get paid.

For your sake I hope so, get out ahead of this if you can.

I am not surprised if there is going to be a rally, perhaps even earlier, before Christmas.