i think you know very well and non of the points realy relate to the text or the sum up. but like i said thx for your input sir. i just see some qualify of the statements that were made and even if i am not the one to be convineced. i will let the nem on the node and see since it is long term invest and time will proof what is the deal.
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In this era of instant gratification mindset we tend to rush things and hope for the best. I researched and researched altcoins before making my decision to invest in NEM and did so for the very reasons you mentioned. We see all these ICO’s taking off, mass marketing all over the place promoting how great this or that coin is going to be. They play on investors emotions and are very, very good at it. The only thing they’re actually selling is their dream of what they believe they can do. Look at the latest ICO’s that have come out and have a huge spike to start off with and within weeks are flat and are remaining flat. Why? Because they haven’t built anything yet and investors get nervouse, buyers remorse sets in and they leave. NEM on the other hand, did their due diligence and built their platform from the ground up, correcting the errors of Btc and Eth so down the road they wouldn’t have to look back and wish they had done things this way or that way. NEM built it the right way and the companies that are jumping on the Btc and Eth blockchain will soon find out that it doesn’t measure up to their expectations as far as security, speed and overall performance. We are still in the infancy stage and I believe NEM will be the leader in blockchain technology and will continue to grow when others fade for years to come. I agree it’s tough to sit back and watch, but if it was easy, everyone would be doing it. The old adage “Patience Is A Virtue” never rang truer for this organization. My two cent’s worth…
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True story we will hold for 5years even if it goes down to 1-5 cents but i would be happy if ther would be more information on running projects. We pulld out of every other Project and hold only Xem. I also got emails that say give us a year time and great things will happen, wich is nice but a small info of what exactly could or will happen durring that time period would be nice.
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I agree with you totally, if nothing else hire an Information Specialist for their investors to keep them in the loop with what all is happening and provide at least estimated timelines on projects and new tech. Having an active twitter account to post accomplishments would be helpful too. Like you, I only hold XEM and check it a dozen times a day and plan on holding through thick or thin for the same amount of time. Hopefully, one day we’ll meet up and have one heck of a party! …dp
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just n idea, dont check every day since that is contraproductive 
Dorian, I agree and share your skepticism. The things that concerns me are:
- The amount of developers are very small. It is claimed to be top-class devs who really know how to do things, but nothing is known about them. If they are so good please tell more about each of them, otherwise it is better not to tell anything: every startup claims that they have the best team in the world. Also the devs of other crypto are downplayed as “hobbyists”.
- The white paper is out-of-date and many things are omitted. How tx are grouped in the block, how the XEMs are circulated? Bitcoin has a good explanation about it with UTxO and merkle tree. If NEM uses the same approach, it would be nice to explain/reference it. The paper tells that NEM was the first to figure out how to sync time on the blockchain. But if this is the case, then with a centralized time you have a way to solve double-spending just relying on this time. No explanation is given why it is not used.
- API documentation is also out of date. It doesn’t look that readable and frankly documentation of some 1-person github library looks better. If you need adoption, you have to have a nice, up-to-date, easy to use documentation. Developers will be the first to adopt your project.
- No clear path forward. Just check how many times the release date for catapult has been changed.
- Blog has many claims which are not really correct and even might be seen as misleading. It is said that NEM is way more scalable than BTC, but it looks like it can handle only 2tx/sec.Yes it can be changed, but in the similar way it can be changed in BTC. Currently implemented things are interconnected with “hopes for the future” and it is hard to guess what is actually done and what might be done.
- It does not look like the team is organized and there is a clear hierarchy: in many interviews Makoto told that he is one of the projects lead developers, but then when he was out of the team the clarification told that he wasn’t. If he was not, why the company was ok with him publicly claiming that he is. NEM does not have huge amount of news coverage, so the team should have seen it but for some reason allowed it to continue. They should have asked an editor to add a clarification: “he sad this, but this is not the case. He is …”.
- Hard forks are super easy to do because of the supernodes. They will accept everything to get their reward. So devs can push any changes they literally want. This can be seen as plus, but also can be scary.
- POI presented as something extremely important. But it is not really that much different from POS. In fact the major part of your importance is your stake.So all these convoluted graph-theoretical equations have very limited value.
I just started with NEM, so these are my concerns after reading about it for a few days. I think that the only thing it is useful now is speculation. At least BTC and ETH is needed to buy any other crypto.
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- It is true that there are not many developers. You can judge the quality of the developers by looking at the code on GitHub.
- The whitepaper talks about block creation. Like in Bitcoin, harvesters try to fill blocks with transactions to maximize fees. Time synchronization cannot be used in the way you describe to prevent double spend. Due to network latencies, a small window is used to determine acceptable timestamps, but this could be exploited by an attacker to double spend.
- Most of the investments are being made in documentation for catapult. The priority of documentation for the current system is less.
- The catapult release date has never changed, but its milestones have never been clearly communicated to the (public) community.
- Not sure what blog to which you’re referring. The current mainnet network has a hard cap of 2TPS. Some of the posts regarding scalability also confuse private chain and public chain scalability.
- When Makoto gave those interviews, he was still part of the (marketing) team and was allowed to embellish his role. In hindsight, that was a mistake. The NEM Foundation is now in charge of outreach to prevent similar mishaps.
- Supernodes can upgrade or not, which gives them a vote on each change. To date, there haven’t been any controversial changes. Unlike Bitcoin, there are fewer groups with competing incentives so agreement is more likely but not guaranteed.
- The importance of POI to NEM has been overhyped. The correlation of POI to POS is relatively high.
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Stinghe_Dorian, it may seem that way to you, but lots of work is happening in the background with some major players.
Just look at the likes of COMSA, Luxtag, Landstead to name a few.
There will be some exciting times ahead, and alot of hype has been avoided, check out all the other projects that are nothing more than a bunch of hot air with nothing to show.
NEM is a smart asset blockchain and extremely powerful.
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Hi everyone,
thank you for your opinions and contributions. @nem_curious you are partly right and as far as the man-power is concerned, we all hope for a hefty financial injection for NEM’s marketing and development team. This action I believe would help tremendously.
In the first contribution I wrote, the functionality, development and quality of NEM was never questioned.
The problem I have addressed is:
- that it is missing at Manpower (seemingly)
- the marketing goes in the wrong direction (in the west, in my opinion)
- that a POI system is not decentralized (at least in the choice, which is now not the world)
- and the information about milestones is not properly communicated
(no request about catapult would be adequately answered, as said we wanted to make videos and took distance to it, I can not vaguely produce something that is in such a way or so.) - and that Jeff McDonald, wich I hold in high honors and consider very capable (I am sorry if it was perceived otherwise) can not be responsible for everything.
These were MY points and I wanted to stimulate the conversation, with the hope for change or to start a process of thinking in this direction.
We have stopped producing videos because we only want to report about safe and working things.
Now to COMSA. ( ico ) @nzminer
This is all future music and has no place in our contributions for the first time. and I think the companies interested in Eth are a house number other than Comsa and so on.
@Jaguar0625 First of all thank you for the reply.
- I looked at Github and liked what I saw. Otherwise I would not waste my time on this forum. My point was that there is no point to shout around about the top-class developers if there is nothing to back it up with. Also there is no point to downplay developers of other major cryptos.
- I was expecting that it can’t be used this way but it is nice to explain how it can be used. That part of a technical paper looked a marketing part. We created some synchronization, here is a lot of text how does it work but why do you need it? What is the point being the first to implement it if it is not used? I have not found a normal explanation of how it is actually helping NEM to succeed.
- This is great to hear. The problem is that a newcomer like me does not see it. All I can see is the outdated documentation for the current version which is in a pretty bad condition.
- The official Catapult paper claims: It is scheduled to be released in various stages, starting from the first quarter of 2017. As far as I am aware first quarter of 2017 has passed. This sounds to me like a very clear communication to the public.
- I was referring to blog.nem.io . And yes, I was complaining about the vagueness of statement.
- If he was allowed to embellish his role, this shows that the leadership was not experienced enough to figure out that this is a very terrible idea. Any even small lie for a company which tries to establish the reputation is crucial and I am sure that the ghost of Makoto will haunt NEM for long long time. Hopefully NEM will recover and learn from this mistake.
- Supernode can decide to not upgrade, but they will lose their supernode reward. So basically they do not have an option. The fact that there were no controversial issues does not tell me what will happen if this issue will arise. But I can also see a good thing from this easy hard forks
- And this is a big problem. Because I spent a day trying to figure out all these equations. After some time I started to see that in my opinion all these things are not really changing anything. I failed to see how I can increase my importance 2 time of my pure POS importance. The problem with this that NEM just spent a lot of time telling how bad POS is with all this stake hoarding. It will not take a lot of time before some more mathematically knowledgeble person will write a big blogpost with proofs that POI is just a marketing theater (not sure whether such term exist: analogue to a security theater).
One more thing which I forgot: NEM harvesting is not as great as it looks. Let’s assume that you invested 2200$ and somehow got your 10k XEM. Guess how much blocks will you expect to harvest in a year? Half a block. It will take you approximately two years to harvest only 1 block. In the current situation it there is very high chance that this block will have 0 tx and you get 0 XEM. On the other hand 2000$ will give you a 13.4TH/s ASIC. This will give you 0.0005 BTC/day. Of course this is very very little and of course I have not calculate the depreciation of your ASIC and power consumption. But the point is harvesting is not as good as it looks.
On the bright side. This is one of the few cryptos, which actually does something new and potentially helpful. The community looks engaged as well as devs.
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good points
Here were asked questions of interest to NEM holders. NEM developers do amazing things, but why are so few people interested in this? I hope this theme will not pass without a trace.
nem_curious Your #8 is based on current traffic. I believe the devs have in mind when Nem is highly adopted and people use it everyday, POI will work much better. Say one person uses Xem for everyday purchase he will very likely have higher POI than someone with higher balance but not use it at all. Same with harvesting, when there is enough traffic to go around there will be more for harvesters.
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Interesting thread.
We are happily using XEM here in the tech capital of Malaysia - Cyberjaya. I even pay in at least one local restaurant using it. I pay interns and freelancers in XEM. Once people tried out the easy of NanoWallet they don’t want to go back to any other (more complicated or slower) solutions. The mobile wallet is being improved and I can’t wait to get its update soon … because yes, the UI of the iOS version today - disappoints (said politely 
).
I am glad XEM is relatively stable and independently holding its USD value recently even though BTC and other Alts had their ups and downs.
For developers NEM is the only really ready&easy to use solution which you can build on with minimal Blockchain (-programming) prerequisites.
Looking forward to get developing the LuxTag 2.0 on Catapult next month. I saw its features and it blew my mind.
Disclaimer: I am working for LuxTag, a NEM-based startup. I am with NEM since early 2016.
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I dream that I can buy coffee or pay for dinner with the help of NEM:relieved:
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Great. Believing that something will work the way you want in the future is not really that different from believing that you will win a lottery.
Please show me mathematically (with formulas and proofs) how with any traffic and any amount of transactions you can boost your POI two times in comparison to your pure POI based on your stake. BTW, you do know that only transactions that are above 1000XEM contribute to your POI? How many times per day do you pay 220$ and higher with your real money in a single payment?
The same is for the harvesters: think how many transactions per day will you need to have a reasonable reward for a harvester in that one minute. With 1000 tx per minute and each tx of 1xem you will expect to get 500xem per year. But how many BTC will you expect to get from 1000 tx per minute in BTC.
All I am saying is that’s what they have in mind. If they have to pick a design assuming it will stale or be adopted I think they are doing the right thing. I think it’d be a bad idea to design to accommodate current traffic that will require another fork later to adjust the design for high traffic, that just add more development time and shows they don’t believe in their own project.
Also I think their focus shouldn’t be on harvesters but on ease of adaptation. Price and harvesting rewards should be the last thing in their mind.
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I hope that everything is in order with the fact that I will send an answer to Lon Wong, which he contributed to the group in the telegram, here.
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add:
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Well, POI might have its issues and drawbacks but it is a proven way to secure the network. And it solves the mining Problem. Im not even sure what the number two coin with pure PoS is, but NEM is by far the number one coin not utilizing mining.
I am currently harvesting with 20000 XEM, yes the return is not very high but i am also having no additional costs. Still far better than the return rates at my local bank. Its also far more than just 1 Block in half a Year and over 60% of all blocks have tx fees now.
I think not having big companies directly tied to NEM is only a plus in the short and long term development. Things wont move as fast or might be as shiny as some other coins. But there are many open source projects that have less funding than NEM and still produced results that are used by all the big companies.
There are always places where a closed ecosystem like the TUI booking system makes sense. But overall IT has shown that global standards and open systems are the way to go forward.
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