Nem a dead coin?

Market Discussion
#19

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.

#20

this is pure BS.

#21

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.

#22

Bad and unfortunate management since the beginning.
Faulty and volatile communication.
Misleading marketing.
Fight within the structure and the individual leaders.
No promotion and organization of Worldwide Communities.
Intransparent organization.
Delays in development.

To name a few.

But we are not dead, we have problems.

1 Like
#23

Agree, I think a combination of the above were the root causes of where we are. The consequences of those causes have resulted in where we are.

Most of those points above have been acted upon by the re-organization.

#24

Each one of us is free to draw his own conclusions. I come to a different result. Nevertheless, have a nice day.

1 Like
#25

why though?

#26

nem’s project must also be backed by its market capacity, when we were in the top 10 more people wanted to work with Nem and were excited about its technology, but now that we slide into the top 30, many other projects are signing contracts and making alliances with large companies that we will not get.

#27

i see what you mean, but i don’t think that there is a correlation. no government or large corporation, after getting a proposal from a blockchain company, stops and says “Wait, let me check where they are on coinmarketcap.” i wouldn’t confuse that with moonboys and hype. You say they all wanted a piece of nem when it was hot, but where are they now? seems that they were not worth very much at all in the long run.

give me a single business use case over a thousand moonboys any day.

1 Like
#28

I think big organisations are interested more in a company if it’s established like IBM for example, there’s many companies jumping on board with IBM and their HyperLedger. IBM or HyperLedger aren’t on CMC, but still they’re getting on board big multi-nationals.

Exposure and awareness are important, and IBM has that marketing power. Being in the top 10 on CMC does help somewhat with crypto, but you don’t need to be on CMC if you’re spending money on marketing your product well to get it to the right audiences. This brings along with it adoption, which has an effect on the market price, which brings along more investors and the cycle continues.

2 Likes
#29

Yes, I haven’t seen any movement or push for average users to use anything nem related, no mosaics, no document time stampings, no grants, and the foundation has been saying a new release is in the works for the last 2 years. My investment has dropped by 95% and doesn’t seem to be coming back. This project should have been more decentalized when we lost faith in the foundation the whole project failed. Not to mention the hack, which proved nothing other then coins can be marked, tracked, but not recovered.

#30

Loyalcoin, LuxTag, Origins, and Mobi are just a few of the NEM projects with movement directed at average user.

Many were confused about Catapult release date in the past. There was no official roadmap until this year. Catapult is to be released by end of Q4, 2019.

I do agree we should promote decentralization.
To do this, we need to move away from a command economy to a free market. In order to do that, we need a framework in which it can thrive.

The more we can encourage dynamic systems, the better.
Dynamic fee structure has already been added to Catapult. This is most critical. Next we could look at dynamic staking, as well as abolish supernodes and supernode subsidies.

Due to the nature of decentralization, yes - coins can be tracked. What more do you want? I hope not a movement towards central control, where they could be further manipulated by an authority. And, God forbid… coins “recovered”

Decentralization also depends on participation from community. You’ve had XEM for 2 years, but just joined the forum 16 hours ago.

Welcome.

2 Likes
#31

How do you know this? Is the catapult code available or is this news coming from someone saying they are working on it? This isn’t salt, if you have a link to the github or some other repo with catapult code available I’d love to see it.

LOL what? Decentralization isn’t responsible for that. Many parts of the nem ecosystem can be decentralized. Code, Community, Management. Is nem foundation voting done on chain? Are there more then one (independent/unrelated) community forums, code bases, or management? I understand coins can’t be recovered but I think its worse for everyone to remove fungibility, Why mark them? That’s basically saying “We can remove nem at will and if you aren’t paying attention you might receive nem that’s worth nothing”.

I would have joined sooner I just forgot about nem because I didn’t have a place to spent it, a way to use it, or even somewhere to trade it. I’ve been waiting on an update and in that time the price dropped 95% so sorry if i haven’t been coming around.

I would love to see hard dates and information on spending and using the $5 of nem i have before it goes to 0.

#32

The tagging system may have its pros as a weapon against hacks, but in a long run, it could entirely remove the fungibility of the token.

That means it would restrict users’ ability to freely exchange coins, render some coins useless, or lead to differing values for otherwise identical tokens.

In addition, such a “tagging” and “tainting” feature could be misused by a third party. The whole point of a decentralized digital currency is for no-one to have absolute power over it. The tactic will empower the NEM Foundation and exchanges to differentiate between tagged and untagged tokens, plus decide which tokens to accept and which not to.

For example, exchanges could profess that some coins are illegal, even if they not. Imagine if dollar bills that had once been involved in a crime were never accepted in any store

1 Like
#33

Catapult is open source and available on github, with documentation: https://github.com/nemtech

Decentralization allows a user to transact without interference from a central authority, and provides the ability to track public transactions. Without decentralization you must trust a central authority. (unlikely they will even make the records public, anyway)

XEM is listed on majority of popular exchanges: https://coinmarketcap.com/currencies/nem/#markets

News and updates is posted (usually daily) on NEM twitter, NEM Telegram channels, and here on the forum:
https://twitter.com/NEMofficial

#34

Foundation elections are on chain. Their internal deliberations are not. Foundation is an independent organization that exists at the pleasure of the community.

Yes to all.

There is no marking feature in NEM. Foundation tried to blacklist addresses that they thought had “stolen” XEM and misrepresented it as some sort of protocol level marking feature that does not exist. Essentially, the “marking” consisted of sharing lists of addresses with exchanges.

#35

There is no such feature unless you know something I don’t.

1 Like
#36

Thanks for clarifying. It was a misunderstanding on my part, now that you’ve explained it wasn’t a protocol level marking feature. I thought it was built in, but it was just sharing lists of addresses with exchanges.

So XEM does have fungibility. I stand corrected.

2 Likes
#37

Hello @Jaguar0625,
with all the due respect (and there is lots of respect due), AFAIK the NEM Foundation didn’t market the “stolen coins tracking application” as a protocol level feature - trolls did. :grimacing:
Let’s give thanks and respect to all the effort NEM Foundation puts into supporting NEM as a whole. This is valid for the previous and even more so for the incumbent Foundation fighters.
Rene, LuxTag

5 Likes
#38

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