Any updated news for NEM outlook ? Whats the direction after some major Figures re-formation?
Really interesting thread, as an early user its encouraging to see people with an ultra long term approach.
@futuretech made a terrific point regarding the Edison (Tesla) comparison. NEM needs to be able to be fully utilised by the general public, seamlessly. To replace a previous product/service it must triumph in all areas to be sufficient enough to fully replace as an example the current fiat system in place.
Encouraging ways to have adoption of NEM can be seen in the community fund proposals. Some large starts up are truly attempting to integrate a platform to effectively provide users the ability to transact with NEM. Providing support to these start ups is one real way to boost the expansion phase. I am currently developing my own start up and am very interested in providing the users the ability to transact with NEM on the platform. To me, innovative start ups and other small businesses will be the key to growing the market and help facilitate the seamless models of transacting or whatever your intended use is.
As mentioned I am only new to the crypto space (roughly 8 months) so I’d love to receive some feedback or see what everyone thinks!
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very insightful article, learn something everyday
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This is very interesting.
I know that NEM foundation is aiming “the blue ocean”. But… I am still thinking that NEM needs to achieve recognition with current crypto early adopters. How?
In history, we have seen many times the best tech disappear.
In Telegram, Tony, as a blockchain dev, was giving example of customers asking specifically for development in Ethereum.
Is Ethereum better than NEM? So why asking specifically for it? Because they’ve heard of it and “everybody is using Eth”.
It sounds stupid, but this is how many people react.
Aiming blue ocean is great, but we are still at the beginning of crypto and NEM should at least care about today’s early adopters.
Early adopter means devs and crypto enthusiasts.
The first one are key, because they actually use the blockchain.
The second ones are a more heterogeneous community, composed of speculators who only care about price, but also people willing to use blockchain (and NEM) for everyday life.
An effort should be put there, involving community.
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Some great responses here. Let’s keep the ball rolling.
Remember though, it is still early days. It might seem like crypto/blockchain and NEM has been around forever, but that’s because we’re very very early adopters. Crypto and blockchain is still not even close to mainstream adoption in the real world, on the level of your average consumer. There is EVERYTHING left to play for.
But conversation like this should keep us on our toes, and as prepared as we can be.
On a less positive note, it looks like we have an early example of what I have been talking about:
This highlights the potential risks, despite the advanced technology. This is an important lesson!
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In Germany, we like to say “leave the church in the village.” Although I share your opinion, we should also see the period of the post and the team strength of Nem in relation to it. The project was presented December 2017 and you can easily find it via the search function of the forum. There are zero comments under the project proposal. So it seems not only that the Foundation has overlooked that, but we too as a community. Nem had a small team at that time (still a bit small today but it is developing) and Comsa was on the way. But I think that in the background, the important projects all run according to plan and many things happen that are simply subject to a certain trade secret and are only worn to the outside when they are ready to go.
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Good observation. Very true.
Still good to keep and eye on these things.
It’s also positive to note that the team did want to use NEM and would have if things had gone to plan.
I appreciate your care and concern, however i find many aspects of your writing to consider only a low spectrum of facts. Even your historical / business references are weak.
Attributing first-mover benefit to fossil fuels is a fallacy. Even in 2018, with government subsidies, and major advancements in chemistry, mining, design, production, etc - Electric cars have massive setbacks and cannot yet compete on scale in an open market against internal combustion engines.
First Mover could be applied to keyboard layouts, however- Qwerty was designed to minimize jamming in typewriters and there hasn’t been significant technological advancement in keyboard layout to justify mass changes. Most consumers simply don’t care that much about typing fast.
Where speed typing is necessary, Stenotype is used.
Now there are significant tech advances to justify new text input designs and methods, and people are adapting somewhat. - Speech to Text, Swype, new input devices coming out every other day. - etc
I prefer to compare NEM to Amazon and Google during the .com bubble. There are plenty of articles you can find online, written during late 90s and early 2000s, about how Amazon is doomed to failure, etc. Meanwhile, millions of dollars were being lost in failed Internet startups.
Same sort of thing is happening in crypto right now.
As far as growing NEM - yes things can be done different. However, every time someone brings up this subject, I ask myself what they are doing to grow NEM.
Everyone has an opinion on how to do it, but not everyone is taking action.
One thing that I think most agree on, is that we need content creators. - And there are bounties for it as well.
You seem to write well (though I disagree on much of the content). Maybe you’d like to write some positive and helpful articles about NEM?
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Sorry for the late response.
I’m in the middle of exams and haven’t had time to catch up on the thread.
On your first point about the examples used (i.e. electric cars, keyboards etc) you are, of course, entirely correct. And I am in complete agreement. Likewise, this is exactly the kind of thinking I was trying to inspire.
Although you are correct on both points, these are the introductory examples commonly used in training and academia to introduce the topic and get people thinking about the development and life cycles of technology, which is why I thought it appropriate to use in this thread. On further examination of these examples, one finds that (just as the development of technology is not linear or predictable), instances of technological lock-in or failure are, likewise, not always what they seem. In this respect, responses such as yours are exactly what I was looking for, as it starts to crack open the opaque shell of what makes a technology tick. History and philosophy of technology (and policy) is an emerging field that was once assumed to be a very simple progression for one technology to the next.
Increasingly however, companies and innovators pay big dollars for consulting and advice on these topics in order to try and avoid these pitfalls, and so my reasoning for using them still stands. But you are correct on the details, and I’m impressed by your knowledge on the subjects. One thing that is really blossoming with crypto and blockchain, more so than many other technologies, are the strength and enthusiasm of communities behind them. By making the best use of these communities and pooling our ideas, we can (in a sense) provide the service that outsourced consulting companies provide, but at a fraction of the cost. Of course we don’t get paid for the effort, but as investors we have a vested interest in NEM succeeding.
On the second point about Amazon and the .com bubble, I am in complete agreement. My intro into the world of crypto came off the back of an extensive study of the .com bubble at the time and why certain companies succeeded and others failed. There appears to be many parallels, and I would definitely recommend an intensive study of the .com bubble era to any budding crypto investor. This is, in fact, exactly why I decided to invest in NEM (and also why its a long term hold for me).
Also, thanks for the suggestion about content creation. This is something I have planned for a while now and will be starting this summer. I’ve been busy with my work and studies until very recently, and so have not had the time to make a serious effort of it. I understand the frustration of endless threads saying things should ‘be different’ or ‘better’ without any creative input. I’m sorry if this thread sounded that way. It was not my intention. It was however my first contribution to the forum and community, so it was intended to function as a form of personal introduction, whilst also spurring some fresh discussion beyond “marketing!” and price prediction threads.
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I read this thread with great interest. I’ve recently started work on a NEM focussed documentary film about blockchain and cryptocurrencies. I only recently became involved but I’m drawn to NEM for the reasons mentioned above - it seems to be a steady paced solutions finder/provider rather than excessively being hyped like many of the other chains and coins. I’m planning to post my proposal for the documentary film in the next day or so.
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Nem does not need to be wilting violet.
Biggest loss was Lon and Jeff from the front line, you guys can ride that wave for as long as you like but sooner rather than later that wave will disappear, then your high and dry on the sand.
Hey Guys,
I prefer far more this format of discussion than the typical discussions on Telegram. A strategy can’t be discussed on Telegram, which I see more “instantaneous”. The forum is more a place were we can think of what we write and where we can read interesting opinions of other people without being flooded by NEM bot, Moon, lambos, memes, etc.
Even if lately we had some good discussions on TG, they tend to “disappear”.
Good point leoinker, what can we do for NEM?
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The first thing, what we are doing here: discuss and share point of view. This is important, even if it is only inside NEM community
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Then, as I said, I prefer forum to Telegram, I almost never post on Telegram. But forum is almost dead… So bringing animation to the forum is another thing.
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A lot of people are speaking of marketing, using it as a magic wander… But what is marketing? Making YT videos? writing articles? This is only one small part of what marketing is. (The promotion part).
We need to know our market better, we need to know better our competition.
Fact is, there are many coins, and many of them are (more or less) good. You can’t just say there are all shitcoins!
We need to study competition (ETH, ADA, NEO,…), maybe prepare an internal table with impartial information, make a SWOT analysis. From that define a action plan: How to differentiate NEM compared to competition? How to improve our weaknesses? who is our target market?
Anybody publishing content will receive negative/FUD comments like:
- NEM is shitcoin
- NEM is old
- Devs are anonymous
- Not open source (solved!)
- Low tps
- No on-chain smart contracts
- etc.
Truth is NEM is not appealing enough to investors (I hope it is for devs, but first devs need to consider NEM as an option). I have seen a few times comments like “For that project, why choose NEM over ADA, ETH, …)?” Everybody in the community should be able to answer this question. And I am not sure that everybody can.
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We need more intelligent people on the forum giving input, and yes we have some of the best here yet it is such a narrow window at times.
I know sometimes my posts are sometimes slightly off the scale for polite chit chat yet some times I really feel folk need to be kicked into a response.
Is your response/input so precious and delicate that writing 5- 10 lines of input is so hard?
It makes it difficult to get any real momentum when nobody knows what anyone else is thinking.
Cheers
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In response to your bullet list
Nem is a shitcoin - no not in any sense, it has a solid market presence and I am guessing a lot of people have made millions from trading it already, they just do not advertise.
Nem is old - No, this does not make any sense.
Devs are anonymous - They have presence, can you name all the BitcoinCash Devs?
Not open source - Catapult whitepaper anyone?
Low tps - No not really, were is the argument for this?
No on chain smart contracts - Nem has always said it works ofchain and lets the Blockchain do its thing, yet I have read small snippets that Catapult will have some onchain contract abilities.
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In my opinion NEM is all about the versatility. It has everything and even more to overgrow other blockchain solutions. However, versatility is not always the engine that moves mass adoption of the technology, because sometimes it is difficult to find its place without clear dominating use-cases. For example Ethereum is currently overcrowded, in my opinion, because of all these ICO’s launched on the chain. The clear utilisation of Ethereum Smart contracts allowed it to dominate the market. On the other hand, as I see, NEM is more than perfect for Security token issuance because of its unique native features. Moreover, 2018 - 2019 Security tokens will overcome Utility tokens and ICO’s because of the regulatory pressure (also lets be realists - more than 80% of the launched ICO’s where securities in any case), so NEM could take a lead as a blockchain for regulated security tokens.
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Good points, well stated!
This comparison is interesting:
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More like Shmardano; am I right?! JK