What does COMSA mean for NEM? The one-way ticket to the stratosphere!

We all know what NEM Foundation is all about and what’s going to do for the world in regards of blockchain technology, so I’m not going to go through all that as you already know all that.

What I am going to do instead, is to talk about COMSA and what are the benefits of having COMSA in the NEM ecosistem.

Now, the more experienced nemsters will claim “we already know”, but then again…this article is not about them…but about the new investors who like NEM and want to know how will NEM grow in terms of market cap, utility and popularity. For this reason, put your seat-belt in place and prepare to go from 0-60 in less than 9sec because what you’re about to witness regarding NEM ,is something that will make NASCAR racing look like a bunch of snails racing on the grass.

As far as I’m concerned, COMSA is the Wholy Grail of NEM and that’s because it will help XEM coin in 2 ways:

1) COMSA will be an exchange platform, exchanging everything into anything. How does that go?

Well, it goes like this:

Let’s say that you have 1 bitcoin, 5 ethereum, 2 monero and 500$. Now, you want to send all that to your granny who lives happily at the other side of the world so she can get by with the monthly expenses.And you want her to receive all the amount into one fiat currency. Her currency. Great…now what?

Well, it’s quite simple. What COMSA will do, is to take all of your assets together, compile them into one single monetary value, and when you want to transfer money to granny, it will ask for a fee. Now, the fee will be in XEM. But of course, you don’t have any XEM…therefore, you will pay the equivalent of XEM in fee and Zaif Exchange which is integrated in COMSA, will take care of it. Make no mistake, your transaction fee will be minimal to zero compared to what people pay these days to move money :slight_smile: .

So, resuming to the subject, COMSA will take all of your assets, it doesn’t matter what types of currency you have, it will make 1 pack …1 transaction…calculated on how much it’s worth…and offer you in exchange the value you can send to granny. Now, that’s how COMSA works. And the fee will always be in XEM meaning traction and volume for XEM coin ! Get it? Transactions, COMSA…NEM…Price goes-up!

2) COMSA will be a launch-pad for ICO’s but it will be more like an exclusive club rather than an open platform
Here it goes: The whitepapers say that COMSA will launch ICO’s based on NEM blockchain. Well, that’s great, I feel a lot of investors coming, but…wait a second…It seems it’s not enough to be an investor. With COMSA, you have to buy COMSA coins to participate in ICO’s launched within COMSA !

Ooops :slight_smile: ! So, basically, you need to purchase COMSA tokens to participate in ICO’s launched on COMSA. Now, how does that help us…the nemsters?

Well, aside from the fact that the transaction fees are in XEM, (volume will be a lot anyway), let’s not forget that COMSA is a platform based on NEM…and NEM is the Godfather among all the coins built around it. Everything that develops under NEM, will make XEM coin grow indirectly.

So, my advice is this: If you just stumbled-up into NEM…looking for something else on the web, but while reading, you started to like NEM, and while reading more, you became convinced that NEM Foundation brings real solutions to real problems, and as a result you bought XEM coins, then congrats, you’ve just bet on the winning horse in the race of the cryptocurrency.

What’s about to happen in October with the launch of COMSA and Catapult in November, whill shake Bitcoin so bad, that I wouldn’t be surprised if XEM will overcome Litecoin (it’s not far from it) and then to challenge Ripple by summer 2018. Believe in NEM, it’s the best horse to bet on !

Any questions or comments you might have, feel free to submit them here, I will gladly reply.

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Short and simple to understand summary. Thx. :wink:

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You’re welcome :wink:

Thank you for the information! You inspire me! I’m constantly buying Hem! I believe in the idea of a coin! With the help of you I’m ready to fly) I’m inspired! Thank you to my favorite expert!

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I am truly flattered for the appreciation. I will do my best to continue providing quality materials :smiley:. Thank you!

I agree with you. COMSA is very important for the NEM ecosystem, but I don’t think that this is our rocket to the moon. Even if COMSA proves to be even more than promised, it will take a very long time for mass adoption. The benefits might become visible after years (if everything goes perfectly according to plan).
Then again, stranger things have happened. As a NEM holder, I hope I’m wrong and you are right :slight_smile:

Hi Dean,

Well…let me put it this way. NEM doesn’t actually need mass adoption. You see…NEM, unlike Bitcoin was designed for enterprise use. Catapult is mostly designed for that. NEM wasn’t invented so people have a stealth currency as Bitcoin. Actually NEM isn’t even anonymous. NEM is designed as an economical ecosystem to optimize business transactions and infrastructure. So we are not looking at mass adoption but an adoption coming from companies. And it has already happened, and still happening as we speak. A lot of companies adopted NEM blockchain solution to their business. COMSA and NEM Australian Exchange will only magnify this to the point where the price will go high…and fast. Why? Because on COMSA all the fees of transactions will be in XEM…and on Australian Exchange NEM will be the main bargaining chip to buy other coins. So…it’s volume and traction from both sides. Actually, if I think better, once Australian Exchange is up and running, we should expect plenty of adoption by individuals, not only companies, and that’s because NEM has lower fees at transactions compared to Bitcoin, and it takes a lot less time in terms of transactions.

Make no mistake, Lon Wong engineered COMSA and Australian Exchange in such a way that they would add value to NEM, not only in terms of adoption but in price also. :sunglasses: Those are genius strategic moves !

Do private chains off NEM pay XEM fees benefiting XEM transactions?

As far as I know, on COMSA, every entity, be it private individual or company, if they want to exchange any fiat/crypto into any fiat/crypto, the transaction will be monetized in XEM. Even if they don’t have XEM to pay the fee, they cand pay in the currency they hold and Zaif Exchange will automatically convert it into XEM. Hope it helps ! :sunglasses:

I mean, if I start my own private network and make mosaics with no cost, does my private network pay fees to the public NEM network.

Since your mosaics are being traded throughout the NEM block-chain, they should probably be taxed. But I’m just asuming here. Your question is more technical than my wisdom can answer. You’re better off asking the developers themselves. You can ask NEM team on facebook on NEM official page. I ask them things all the time and they answer in 6-12h.

Thanks :slightly_smiling_face:

Private network does not have to pay fees, it’s your own private network, you can implement it however way you like

I don’t really understand how this project will really benefit XEM.

It may in certain ways, but I do not think that will make any big reflections on current price level.

If you think that COMSA will not have a big impact on XEM price, it means you might have missed the part in COMSA’s white-papers where it said that every transaction on COMSA will be charged in XEM :slight_smile: And from there, you can get the point. COMSA will have a huge impact indirectly by increasing the demand of NEM for transactions payment.

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Okay maybe I am wrong, but il people will invest XEM to Comsa that Could affect negatively on the price in short term (If owners cashout).

In a long term that is a different story if what you have said is right.

Anyway I’ll will hodl my Xems instead invest in comsa ico. Can’t see really no future value with the tokens sale (5% discount coupon or right to vote). Upcoming ICOS can and probably will create own tokens.

And I dont really understand why any investor should buy regular company tokens without possibility for dividends? Premium Water Holdings, Inc is listed Stock company already, so why I just bought shares if I want to invest?

I am pretty sure that we’ll see dumppasi just after it hit Exchangen and I guess then I Could buy in if the price is between 0.2-0.4$ CMS

Do you really think that Lon Wong, the president of NEM who is also in the COMSA committee, would get involved in the COMSA project if it didn’t benefit its “baby”, which is NEM? From the point of view regarding XEM coin price, COMSA is a gold-mine. Imagine people using let’s say…3 types of currencies: bitcoin, lightcoin and a couple of bucks in fiat currency…wrapped into one single transaction, sent through COMSA to whoever they want…in …japanesse yen let’s say, and the transaction fee is in XEM. And by the way, exchanging multi-currencies into one transaction, is a one of Catapult’s properties, which means that COMSA will use Catapult.

I wouldn’t be surprised if Catapult would be announced along with the start of COMSA ico sale after the ending of pre-ICO !

Now, of course, you don’t have XEM, therefore, COMSA, which has ZAIF exchange incorporated into it, will take the currency you have, exchange it into XEM and charge you. Imagine the volume of transactions people will make since they don’t have to deal with expensive exchanges…how does that affect NEM? Well, positively, obviously. So if you think that COMSA will dry-out NEM market cap :), think again…I doubt it. Even on the short-term, it’s unlikely to see a difference. Sure, there’s going to be hype around COMSA, but who cares? It’s NEM platform under which COMSA, DIMCOIN and other ICO’s are developed and as far as COMSA and DIMCOIN are concerned, Lon Wong is involved to make sure that NEM will grow! That’s indirect marketing at it’s best. It’s business development taken to a level of art where you develop tools (yes, COMSA and DIMCOIN are in a way, tools for NEM to grow), to generate income.

Tiberiu, what is going on with COMSA? Campfire is saying they never agreed with ICO, Tech Bureau server going down etc. I’m getting these news from some of the Japanese blogs, and I thought you might have some idea to all this drama. Hope this does’t affect XEM too much…

@Yoyo

Hi, I’ve tracked the original post at this address: https://mag.camp-fire.jp/21614/

I’ve also checked Tech Bureau’s website, and right now, it’s perfectly fine. Probably they had a technical problem with the servers. It can happen to anyone.

Now, regarding your concern regarding NEM due to the fact that Campfire won’t launch their ICO on COMSA platform, well, to be honest, I don’t really think it should affect NEM at all, because Campfire is not the only ICO that’s suppose to launch on COMSA.

The reason why they are not launching under COMSA any more, can be this one (i’m just speculating here):

None of the parties (Campfire & COMSA) reached to a mutual agreement regarding terms.
Campfire was not eligible for being listed on the COMSA platform (let’s not forget that Lon Wong himself said that all ICO’s on COMSA will be heavily filtered for eligibility), so, it wouldn’t surprise me the following scenario:

They probably applied to be listed on COMSA, but they weren’t fully compliant in terms of eligibility. They were probably given the option to make the proper adjustments to be fully compliant, but for whatever reason they refused, therefore, they moved their toys somewhere else.

We should hear more about this matter in the days to come. I’m pretty sure that official statements will show-up soon.

I see, thank you for your input! very helpful as always.:grinning: