The silver standard

#1

The US dollar is unreliable, and the Bitcion falls apart. Therefore NEM needs strong support. Such support can come only from the real money, namely precious metals.

For this purpose, I suggest to mint a silver coin. In 2015, such idea already was discussed. But then the question was about producing souvenir coins for distribution to the stakeholders. Now, the coin is proposed to be the physical backing of NEM.

At the same time, this coin would function as cash and also for preservation and accumulation of XEM outside of the Internet. But the main goal - increase of reliability and stability of the cryptocurrency, NEM. The presence of such coin would become powerful means in the planning of aggressive advertising campaign.

According to experts, silver is very undervalued metal. Therefore the coin would have investment functions.

The minted coin could be of ½ oz in weight, 36.6 mm in diameter and 2.3 mm in width.
The front face:
The NEM’s logo in the center. Along the edge, New Economy Movement inscription.
The back face:
In the center, large inscription ХEM. Silver content, Ag 999, on the left side of the coin, its weight, 1/2 oz to the right. Inscription Nem Treasury on the top of the circle and the year of production аt the bottom.

Realization of this project will not demand large investments. Establishment of NEM Treasury will be needed. It will order minting of the coin and set its price. It will be necessary to show out this price and the mark-up on a sale or buying up in the wallets. Using this instruments, the Treasury will be able to manage the distribution of the coin.

At the first stage, the volume of coinage can be minimal. So that this will be rather a marketing move than a real backing by silver. But in the future, business will become self-sufficient due to a sales markup, which will remain for salesman. As a result, the silver backing of NEM will steadily grow, and the coins will be on sale in any booth with Internet in any point of the world where demand will exist.

In some places on Earth, a backup money circulation system is required, and NEM-coin can play such a role. Certainly, it will be accompanied by sharp increase of number of mobile wallets and increase in the local Internet trade using ХЕМ.

At present time, such coin would cost about 50 ХЕМ with dynamically changing price depending on the market conditions and policies of NEM Treasury. But the main, NEM will enter the economic reality cutting out the middlemen.

The silver backing is such a trump with which none of fiat currencies could boast, and unlike state Treasuries, NEM Treasury will possess the distributed depositories, which do not need service and guard, and under any circumstances they cannot be neither destroyed, nor robbed, nor arrested.

NEM colorful logo. What do you think?
NEM colorful logo. What do you think?
How can community help Marketing Nem?
#2

The design of the coin was developed with the participation of a colleague NEMISMATIC NEM colorful logo. What do you think?


1 Like
#3

Hello.

I like it.
Would it be possible to use this on a website.
Or could you also crate an animated version of this if required?!

#4

Unfortunately I’m not a designer. NEMISMATIC began to develop, but did not finish. An animated version would be great.

#5

This is so funny. From the time you wrote this bitcoin fell apart so hard that it increased its price by 3 times. From 3.1k to 9.6k. And Nem still doesn’t have a good documentation.

#6

Because it’s Ponzi Scheme. One morning we find out that it disappeared without a trace. Even the soap bubble, more material will remain.
Why is Bitcoin better than NEM? Only an excitement among the profanes. Only that you can hold in your hands is reality. Therefore NEM needs a SILVER STANDARD The silver standard

#7

Please educate yourself before writing ridiculous claims. The main definition of a Ponzi scheme is that next people are paid from the revenue of the prev investors. Bitcoin has nothing similar. It is just an extremely volatile and speculative asset.

Why is bitcoin better then NEM? I can give you a few reasons:

  • it survived many attacks for more than 7 years being the major crypto. This shows that it is unlikely that in the next 5 months someone will find a huge flaw. You can’t say the same about nem
  • Bitcoin core has > 400 contributors on github. Nem core has a staggering number of 3 people. If you add people from other nem-projects maybe this number will reach like 40. The last commit to bitcoin was 11 h ago, the one before 20h before. To nem on oct 23, before on jul 30 (of course you just need to believe that they are rewriting everything in some private repo and in 2 months they will release everything)
  • it already has a huge community, documentation is great, you can hardly come up with a technical question without an answer. NEM has a tiny community, documentation has numerous bugs (I found a few just in my first few days reading about it), a lot of things are unexplained
  • btw, how have you bought your nem? Have not you used bitcoin or ethereum to exchange them for nem? What about buying ripple or dash or some other coin? To buy them you need btc or eth. So bitcoin is the door through which you enter crypto world. Can you say the same about nem (the answer is no).

BTW, drawing a coin is not really enough to create a currency.

3 Likes
#8

Are you sure? And from what do they pay the following people in Bitkoin? With Bitcoins mined by Chinese mining factories?

This is an experimental toy, in which its creators played irresponsibly.

Undoubtedly. There is another danger. This virtual dump of money is so clogged that only owners of supercomputers can operate with it. And the rest of the public will just run around and talk about the benefits of Bitcoin.

Never did the number of people determine the quality of the collective. On the contrary, the more people got into the pack, the more animal qualities and dullness are manifested. Only individuals are capable of creative achievements, not a crowd.

The same applies to documents. Neither their quantity nor volume determines their quality.

I bought my Nem for real money. Then it was US dollars. I’m not sure that it will be like this in the future.

Therefore, NEM needs a SILVER STANDARD The silver standard

It is a very correct remark

#9

Are you sure? And from what do they pay the following people in Bitkoin? With Bitcoins mined by Chinese mining factories?

Of course I am sure, this is why I am telling you to educate yourself. This is the definition of Ponzi scheme

And from what do they pay the following people in Bitkoin?

Which following people are you talking about?

With Bitcoins mined by Chinese mining factories?
What does this have to do with ponzi scheme? You are typing on a computer/laptop/phone made by Chinese production factories? Does this make you by your definition a ponzi scheme or your laptop?

experimental toy, in which its creators played irresponsibly

If BTC is an experimental toy, then NEM is even more experimental. If you make some accusations about irresponsibility, back it up, do not show your lack of knowledge by throwing words around without any proof.

This virtual dump of money is so clogged that only owners of supercomputers can operate with it.

And there is no danger of dump of NEM in the public? What do you mean ‘by money so clogged’? Please be more precise with your thoughts. Also there is no need to have a supercomputer to operate it and no one uses a supercomputer to run a bitcoin client. BTW, learn what supercomputer is and how bitcoin works. If you will have troubles, I will even give you links.

number of people determine the quality of the collective

What do you mean by ‘quality of collective’? Also what is ‘animal qualities and dullness are manifested’? This looks like random words thrown together. BTW, if you have spent some working as software engineer, you would know that you need a team to build something. And if you want to build something impressive you need an impressive team. Now I see that the quality of documentation is bad, the quality of tutorials is bad, tutorials are outdated (even a tutorial how to install the NEM server). The server outputs enourmous amount of error stacktraces (no this is not how production software should behave). If you want to argue with this I will give you examples of bad documentation: if you will not be able to show me where these basic things are explained, you will need to accept it and shut up.

I bought my Nem for real money.

Ok, can you show me right now where I can buy Nem with USD dollars? Do not refer me to ‘that guy, whom you can meet next to the subway’.

Then it was US dollars. I’m not sure that it will be like this in the future

I will tell you that USD dollar will exist when the children of your children will be close to retirement. Not so sure about NEM.

Therefore, NEM needs a SILVER STANDARD

Do not follow your logic. Because you bought nem with USD, nem needs something? You really need to be more clear with your thoughts. And no NEM does not need that. It needs a better dev team, better documentation, clear timelines and better community.

1 Like
#10

What are you talking about? you fly through space, on a huge rock!
What’s the difference than paying? or what to get.
The main thing is to create something useful. That people would be happy.

#11

Exactly!
NEM means New Economic Movement. And in order to gain a foothold in this volatile world, it needs the SILVER STANDARD The silver standard

#12

If we switch to silver, gold, platinum, wood, etc. nothing in the world will change. This is another step backwards. How will you pay by silver coins in the online store?
By reinforcing the currency with raw materials, you are repeating the situation from which we are trying to leave.
In today’s world, we need to reinforcing currency with other assets or technologies.
In order not to appear banks and their bank multipliers, new loans, and a new FED.

1 Like
#13

One does not contradict one another. We in Russia have seen enough of the revolution, when everything is destroyed. After that, we have to create everything again.
Do not give up past achievements. Silver, gold, platinum and wood - should be included in the new world. But crypto-currencies allow the use of precious metals without intermediaries in the form of banks. You will be able to exchange virtual NEM for metal at a nearby kiosk.

#14

I agree with you. Such an option would be very good. But there are several “but”.
First, everywhere must be such stores.
Second, the lack of obstacles from the government.
Third, the absence of fiat currencies.

And if this all will be, then why do we need “silver standart”? )

#15

I am sorry but while I admire creativity and ideas, this one has NOT been thought through and us simply a proposal by someone desperately hanging onto the ideals of last century.

There is a MASSIVE FLAW in this project idea.
You are trying to back a DECENTRALIZED item (NEM is MORE than money) with a basic form of money that is:

  1. Not limited and open to TOTAL market manipulation.
  2. Can never attain try market price discovery in today economy.
  3. Is going BACKWARDS from a fast moving digital currency because TRUST is required for someone to PHYSICALLY HODL all the silver instead of trust in mathematics (universal language that cannot be misunderstood).

So I applaud you for thinking of an idea but PLEASE EDUCATE YOURSELF on what a cyrpto token or currency is!
You can confuse and an awful lot of other uneducated people on the topic when you make backward suggestions that literally go against the entire concept of “self banking” and more liberty.
Sorry worst idea on here.

#16

You can exchange Bitcoin for metals now, in most countries??
I don’t get it??

#17
  1. The coin will appear in retail as soon as there is demand, and sellers will receive a reward.

  2. The government, like a natural disaster, can interfere with the Internet. And then silver NEM will be a substitute for virtual.

  3. Fixed currencies usually do not interfere with anything. But sometimes they lose their fixity.

Additional security for NEM in the form of silverware is useful in competition with other crypto-currencies.

#18

We have struggled so desperately not to use commodity currencies, we make 4th industrial revolution for so long. And for what?

Silver was used for a very long time as a currency. And it showed itself even better than gold. But if we tie it to the cost of XEM, we will return to creating a central bank again. Under a different name, but with the same principles of work. It must be stored somewhere, not on a flash drive. :slight_smile:

In my opinion this contradicts the name of NEM (New Economy Movement).