According to cointelegraph it is:
They are referencing the coincheck hack. Since the hack was completely coinchecks fault, and had nothing to do with the security of NEM, I do not see the correlation.
I am sure they will have another clickbait article about NEM when Catapult releases, saying “NEM is alive!”
I found the article badly written, poorly researched journalism, with many factual inaccuracies. The comments at the bottom of the article reflect that.
In terms of the hack. It should have been communicated to the outside as often as possible, that NEM itself was not hacked and that it has no other fault whatsoever. Many still believe the opposite. I know that it was said, but apparently not enough or too few channels …
yes well cointelegraph also made an article on “Chaincoin being the great hodl movement!”
you know many many people lost big money on that bozo shit?
Terrible PR for NEM again. Should you pay some sponsored articles or why cryptojournos really seems to hate NEM.
Btw NEM is more dead than alive. Huge hype and now just same old bs news about some local meet-up held by the same fools.
Agree about the constant “meet-ups”, we had the same “we had a meet-up here, we had a meet up there” news when Lon Wong was President. What is important is did anything productive come out of the meet-ups that will benefit the ecosystem and ultimately the market cap? Speculators will only invest when they see a positive future. The upcoming Catapult release this year surely helps with positive sentiment, hopefully after next years BTC halvening catapult will get more of a foothold and be established to take advantage of the next Bull market and ATHs which has followed on from the two previous halvenings 12-18 months later.
At this point I’ve pretty much written it off in my mind. If it comes roaring back then great. If not, so be it.
The thing is though that it’s never really roared. It’s had blips where the price blew up but it’s never gained any staying power.
I’d be less bothered about price, which is pretty bog standard looking at all alts, if plenty of people were building on it and there was still a low hum of activity but there isn’t and never has been.
Let’s see what Catapult brings but even if it’s the best software ever if no one else knows or cares then it doesn’t count for much.
Couldn’t agree more. The lack of marketing during Lon’s tenure didn’t help with that. Many newer alts took over NEM with heavy marketing spends, and have remained in the top 20 by market cap on CMC.
‘Marketing’ has been the eternal refrain but plenty of coins with no formal budget have done just fine.
Miners and developers offer a foundation for a project to catch more eyes. Obviously XEM can’t be mined. Very few want to develop on it.
That doesn’t leave many more legs to stand on. I’m sure Nem’s tech will still be thriving and useful many years after most junk out there has croaked. It may not be doing that near major crypto markets though.
we are dreaming of launching catapult, but in reality it will not be technologically better than any of the cryptographic rivals, little marketing and bad publicity are getting Nem to go deep into the marketcap. I think that Catapult’s delays and the advances of other platforms are letting Nem pass and little by little the boat will sink, hopefully the team and Alexandra will reconsider and set a good course for this forgotten project.
There’s plenty of indication that it’ll be able to do things other chains can’t.
I’ve zero concern about the actual tech and never have had any. It’s leagues ahead of most in many aspects.
It’s about everyone else getting excited by it, or rather not.
Hi Gentleman D, I always enjoy reading your comments because you are well grounded in common sense, not trying to hype or fud. Nice to see you post here as well :).
Now regarding this topic, the fact that investors like us can only watch from the sidelines how those in control of the project manage things can be frustrating if things don’t seem to be going the right direction. Here is my little re-cap followed by the reasons I still have faith in this project.
The january 2018 bull-run was insane by all standards, it was a giant bubble and I believe Asia, especially China, was the greatest factor. Projects were valued as if though their actual use cases were already being implemented. Now after the China ban and other countries hitting the breaks from a legal point of view (i.e. India) and other unfortunate events (hacks etc.) the altcoin boom has died down to a point where in my opinion once again projects are being undervalued compared to their potential in regards to future use cases.
Currently big mainstream entities are joining the blockchain revolution in a myriad of use cases, however NEM so far I believe has not declared mainstream partnerships as of yet, perhaps such deals are being made behind the scenes and not revelealed yet due to NDA’s. Irregardless I still believe in NEM, like Gentlemand says the tech is top notch, both core developers and NEM Foundation supposedly, if I understand correctly, are going to try hard to push the Catapult update into the mainstream (in that regards they already lay down the organisational foundation stones) but perhaps more importantly, while China is out, South Korea and especially Japan are still hot for blockchain. I believe NEM has good potential in Japan because it highly esteems tech savy solutions and already has boots on the ground there since NEM’s inception. I hope Japanese people will love NEM for it, not unlike many Western projects where people who invest have an attitude like “what can I get out of it”, but NEM is also supposed to be fun and interesting, the network effects I believe for NEM are better than many non-Asian projects precisely because the prime motivation often is greed in the first place, and because greed is a zero-sum game greed never lasts. So my hope is NEM becomes ingrained into mainstream Japanese society, and XEM becomes a currency of importance besides the Japanese Yen. I think many non-NEM projects don’t have such an outlook.
Anyway, I believe Catapult NEM and current NEM leadership is a totally different beast than NEM 1.0, I still have faith, but then again I am often overly opmistic and perhaps a more carefull approach like gentlemand has is more appropriate. As investors we can only hope leadership will take the proper decisions (I firmly believe they do btw) and hope things will work out. This is not investment advice in any sense, only my own opinions and ideas.
nice to see you round after telegram BS.
9 out of the top 20 on CMC are non-mineable / premined (excluding Tether). I don’t think it matters much whether they’re mined or not.
I just counted over ten coins above us on CMC that very likely engineered their marketcap. In late 2017, marketcap became a meaningless measure. eg. UNUS SED LEO, currently 14th place. Coinmarketcap top 20 was just relatively cheap advertising space with smart tokenomics. Once you see shit like bitcoin sv in the top ten you should realize this.
hahaha yes i understand you, btc sv, Leo… shit coins, but marketcap is very important for projects like Nem and investors
We were at one point 6th on CMC with a $17 bn market cap (https://coinmarketcap.com/historical/20180107) , that brought with it a lot exposure and awareness. In hindsight, it would have been ideal to use our war chest (which at the time was worth billions) on marketing and building up the awareness at the time.
In 2018 many new projects who raised a lot of funding during 2017 ICOs, wisely spent a large proportion of their funds on marketing and community initiatives and are now still in the top ranks on CMC.
The more of these new projects going upwards, the further we went down in the CMC ranks.
this is pure BS.
Which parts do you disagree with, and what is your analysis of why we are where we are?
This is my analysis based on observing the coin since launch, and general observations on crypto since 2011.