Is NEM dead? [hope vs reality]


#1

Hi,
i have thousands of XEM, but there is no bullish sign, catapult released but still nothing!!, while Ethereum moved from a few $cents to $hundreds.
maybe its time to leave! i think nem is not profitable to investors.
i really can’t understand what’s go on the NEM???


#2

You do not understand what nem has to offer, and you are just looking for quick profits. You are better off looking for a good pump and dump, NEM is not for your kind.


#3

If u can really understand, so please tell me more, how much is profitable? What is its status?
I can remember that some nem-fans tried to tell others about “nem to the moon” and blah blah…:))


#4

No it is not dead, all cryptos are down and yes that is a frustrating effect that large buyers or Bitcoin sales has.
Nem has already been to the moon anyway for example it was .17USD last November, then within 4 weeks it shot up to 2.00USD.
My maths are not too great but this is roughly a 1000% increase!
Then of course the next few weeks seen around 80% decrease, which is why I think you are annoyed.
I am too a little as I hoped the price would at least rest above .50USD, but it did not, lesson learnt, the market is still quite volatile.

Also by the way, people often say “too the moon” in jest or light heart.
If we could all predict “to the moon!!” then we would all be filthy rich and buying small Islands in the Caribbean :stuck_out_tongue: (jokes, if I was really rich I would do something positive with the cash, but you get my idea)
Cheers


#5

If you had spent even 5 minutes searching you’d find that it’s not dead. Also Catapult hasn’t been released on the publich chain yet.
If you’re looking for quick profits nem is not for you. It moves slowly, very slowly. Just how it is.


#7

I would not call 1000% in 4 weeks slow.
Cheers


#8

It is hard to predict future of nem, or any other coin at this stage but there are few thigs with nem which are making it less favorable among its peers.

  1. Poor development transparency. Unlike in Cardano case, where clear development roadmap and goals are disclosed, nem future developing plans are more secretive. Furthermore, who are people doing coding, what is their experience, education? Main developers publicly hiding behind anime avatars is more appropriate for high school competition rather than multi-billion dollar investments enterprise.

  2. Mediocre management” While Etherium management was actively negotiating with leading financial institutions like GS, MS, and Russian officials, nem management was hiding, till today this kind of “strategy” is still going on. Nicely scripted statements posted without clear vision where to go next.

  3. Smart contracts (on/off chain): Just count number of Etherium projects (from AI to entertainment) all spun-off ETH block chain. This gives completely new dimension to “cryptocurrency usefulness”. Nem is constantly finding excuses for off chain (on chain is not possible) development. Unfortunately time for smart contract/app development is not on nem’s side, because things are in pretty advanced stage with other coins and it is all about smart contracts nowadays.

  4. Trading platforms giving up on nem: Recent hacking was not the only issue, confusion with (mandatory) messages, wallet instability, poor compatibility with trading centers is just small part on developer (s) neglect towards end users.

Overall It is time for nem to wake up or ……


#9

You may as well leave and not come back. It’s not as if NEM can suddenly become ETH. It is what it is.


#10

In response
1.) Catapult will be open source.
Also as far as anime avatars go I can understand that these days people may prefer this as opposed to Facebook or Instagram style personal profiles.
People do have lives outside of the internet and there is no great reason to have your mug up on every post, especially if it is irrelevant to the job at hand.
And in my personal opinion resumes mean sweet FA, the work done in programming and support is indeed commendable so why the need to lolly people up with brands and company names, it means little.

2.) Truth is we do not get enough information how big and involved this stuff really is, Nem has people working everywhere.

3.) I think Catapult will have some onchain contract abilities, it also uses AI.

4.) This has no basis, even I know that some big exchanges and some smaller ones have listed Nem since Christmas (Binance being a bigger one).

Though I do get your idea that Nem does have a level of low key that is at times frustrating, for example, hearing the same old lines when you know dam well there is more going on.

Also you might like to subscribe to “Nem with Tony” on youtube, he is not a one stop shop for everything yet he does supply some useful leads and news for those interested, and I hope he keeps it up after ep#100, yet time will tell.

Cheers


#11

news,news,news,… who cares?
i’m %100 sure that Nem market cap is “Unliquidated”, this means there is no fiat(dollar,euro) money in it.[only btc,eth tokens], that’s why it depends on Ethereum (and ether depends on btc).
shit.


#12

i’m not anti-nem or …
i just wanna to tell&hear the truth and see the reality.


#13

I feel time will tell on this.
You mean nothing is actually making any money.
Projects are still in their infancy.
I got this quote from the ScanetChain website.

“SCANETCHAIN is the first commercial dApp built on the NEM platform Developed for Blockchain Commercialization.”

Not sure if this is what you mean, I also have not read the whitepaper or any of the Nem project whitepapers to date but will get around to it.
I am pretty much over my head here and my basic understanding was that the projects built on Nem will eventually bring value to Nem.

To sum it up in laymans terms the statement “Nem is dead” is ludicrous, why? Because there are many projects being built on Nem and I do not know for sure but have they even finished the Maylasian Blockchain centre yet?
You’re being a little impatient.

Cheers


#14

As your name implies, if you are from the Middle East, just wait and see what happens, NEM is not for someone who is in it just for quick money, we have many projects, NEM Middle East is very busy in the background. All the NEMbers are busy making NEM a good blockchain, not just its cryptocurrency.


#15

Well from November 2017 up to December 2017 Nem did a 10x, that means if you held 10kUSD in Nem then in 4 weeks time it would have been worth 100kUSD.

So the “Nem is not fast money” argument is indeed bullshit.

Now if you did not sell and held your xem up till now, well your 10kUSD would be now worth around 9kUSD…

So I may have commented above about “impatience” yet now I kind of feel it is valid to ask about price in a way.

As some folk who could have sold and made 100kUSD Cash held out for the long term and are now in fact holding bags.

So how much money is one required to watch pass them by before they start to question this long term stuff?

And as for Crypto, well everything still bows down to the mighty Bitcoin, which in fact has held its value pretty well, unlike the Alts that have dropped much larger %.

So yes I was not looking to cash out quickly (though I should have), yet now as an investment
Nem is not even holding its price of 12 months prior…

Another thing that bothers me is if there is another market run, people will be selling willy nilly just so they do not end up holding bags again.
It is a chaos in the making.


#16

This is what you signed up for, baby.

You seem to hint that someone somewhere should jolly well be taking responsibility for all this. It’s out of everyone’s hands and always will be.


#17

No it isn’t. Just because there was fast money to be made, doesn’t mean that’s the ultimate goal of the project. That’s like saying “Robert has cancer, so clearly the argument Robert doesn’t like cancer is bullshit”.

It’s always valid to ask questions. You can’t however expect anyone to have answers to that particular question. The whole market is a mess and nobody really knows why. Yes, nem got hit harder, it always has and it’s because there is no hype and communication in general isn’t great.

Ask questions all you want but there was never a promise of profit. You are responsible for your money and nobody has to answer to you. This isn’t an investment fund where you can whine to your fund manager.

This point can be made for the whole market. It’s not nem specific in any way and in fact, I’d argue it’s incorrect. Nem wen’t from 1 USD to 2 USD in like a week tops. If that’s possible then clearly not everyone is immediately looking to seel. Granted, that was in a bull market but I think it still matters today.


#19

@memario
I am not even going to bother responding to all those block quotes.
Most of your replies are wildly making all sorts of assumptions.
Yet I will say, I never said there was a promise of profit and no I do not have a fund manager.

It sounds to me like you are a stake holder who has already cashed out a large sum of your stake and now you want to sit in here and gag newcomers.

Just because sitting around and questioning nothing has worked for you once does not mean it will work forever nor does it mean it is for everyone to do the same.


#20

lol, fine.


#21

Well taking public money (from ICO) makes NEM at least publicly (unfortunately not legally) liable for some questions like project performance, full disclosure of leading developer credentials and so on … We took money, but people “chill for now” is not going to fly easily, consequences are already visible.


#22

There was no ICO for NEM. Requirement to get stake was to post “interested” on btt thread and send small donation as a spam and sock puppet protection.

Most people got their stake for around 1usd.
Everything was done by community volunteers.
It was clearly stated it is not ICO then, and it also would not be considered ICO now.

Core devs are still from that times. They were anonymous from the start and nobody cared.

You cant compare nem foundation to ethereum foundation(or eos, cardano, iota, neo …). Ethereum foundation did ico for ethereum and created ethereum. They have trademark registered for ethereum…
Nem foundation was created 1year ago. Nem was already out in the wild for few years by then. Nem foundation does not hire core devs, it does not have trade mark for nem, it did not do ico. They just promote nem technology in more structured way.

I think this year we will start to see more results from nem foundation