There should be "easyest possible step" for those persons
who are in stockmarket, casino, lottery etc. looking for
some small and easy "vibe" for average person life. That which
make us individual, but as easy as loging to your bank or to
any other portal in real world. If we can reach this, it means
superextraamount of new users. This needs co. with some big
player what Btc is tryed to do with Paylal ( Paypal is not so common
in my country but anyway).
We shoul find the easy way for average users, that's where the
big bucks are…
" father- why you are selling buttons, only for 0.5$/each? Tose are cheap!"
" son- yes, you are correct, but i have 1.000000 customers…
Did you get my point?
NEM is making the same mistake that most other cryptos are making, trying to run before they walk. Average joe doesn't care about AE's and ATM's, there is talk about investing in companies that make apps for NEM. Who is going to make apps for NEM when there is nothing to buy with NEM? The focus should be on online merchants, the market is huge. So far i have only seen one crypto make an app for online merchants (the name escapes me at the moment ) and another crypto is being built as a payment system for it's goal (NODE). NEM needs to talk to online merchants and find what will work best for them and then build it, merchants won't be downloading the NEM wallet in it's current forum to use, they want a simple plugin for their site. Merchants don't need cryptos to succeed but cryptos need merchants to succeeded.
and
NEM is making the same mistake that most other cryptos are making, trying to run before they walk. Average joe doesn't care about AE's and ATM's, there is talk about investing in companies that make apps for NEM. Who is going to make apps for NEM when there is nothing to buy with NEM? The focus should be on online merchants, the market is huge. So far i have only seen one crypto make an app for online merchants (the name escapes me at the moment ) and another crypto is being built as a payment system for it's goal (NODE). NEM needs to talk to online merchants and find what will work best for them and then build it, merchants won't be downloading the NEM wallet in it's current forum to use, they want a simple plugin for their site. Merchants don't need cryptos to succeed but cryptos need merchants to succeeded.
good point.
Why don't we define a bonus for mechants/exchanges/casinos/whatever accepts NEM before a given date?
NEM is making the same mistake that most other cryptos are making, trying to run before they walk. Average joe doesn't care about AE's and ATM's, there is talk about investing in companies that make apps for NEM. Who is going to make apps for NEM when there is nothing to buy with NEM? The focus should be on online merchants, the market is huge. So far i have only seen one crypto make an app for online merchants (the name escapes me at the moment ) and another crypto is being built as a payment system for it's goal (NODE). NEM needs to talk to online merchants and find what will work best for them and then build it, merchants won't be downloading the NEM wallet in it's current forum to use, they want a simple plugin for their site. Merchants don't need cryptos to succeed but cryptos need merchants to succeeded.
Assuming we have a payment solution. Why would merchants want to waste their time and money setting up their systems to use NEM when we have not enough users?
It begs the same question - why would anyone want to use NEM for?
How do we make merchants use our system? If AE is not important, then, isn't NEM just another coin? What is so great about NEM compared to some other crypto like Feather Coin? With the same argument as AE, the average Joe will not care whether it is PoI or not.
Now, let's look deeper. NEM AE is an essential element of a merchant payment system. Using the NEM AE, AltNemo is aspiring to build around it to facilitate a merchant payment solution.
Now, we will have a merchant payment solution. Will merchant still want to use NEM then?
So, we need to go out there and get merchants. OK, assuming we will do that. What is the value proposition to merchants that will make them adopt NEM or even NODE for that matter?
and
NEM is making the same mistake that most other cryptos are making, trying to run before they walk. Average joe doesn't care about AE's and ATM's, there is talk about investing in companies that make apps for NEM. Who is going to make apps for NEM when there is nothing to buy with NEM? The focus should be on online merchants, the market is huge. So far i have only seen one crypto make an app for online merchants (the name escapes me at the moment ) and another crypto is being built as a payment system for it's goal (NODE). NEM needs to talk to online merchants and find what will work best for them and then build it, merchants won't be downloading the NEM wallet in it's current forum to use, they want a simple plugin for their site. Merchants don't need cryptos to succeed but cryptos need merchants to succeeded.
good point.
Why don't we define a bonus for mechants/exchanges/casinos/whatever accepts NEM before a given date?
So, your value proposition is to give candies to these entities and make them implement our solution. Yes, it may work, but how much is the bonus you think? Say, we want to hit 50K entities. $1K each? Assuming each NS is worth 2K, then 25,000NS? We only have 4000 NS. ;)
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Perhaps we should go back to the good old adoption curve and see where we stand. In the entire crypto sphere, we have less than 6 million users out of 7 billion in the world. It is a foregone conclusion therefore, that we are at the Early Adoption phase.
We will be still be at the early adoption phase unless and until we cross the chasm and into the Early Majority phase.
To cross the chasm, we will need industry wide force to push through, which is happening, albeit with much resistance compared to the dotcom days.
In the meantime, wouldn't it be a no brainer that we should "pluck the low hanging fruits"? In other words wouldn't it be the most cost effective choice to get other crypto users onboard with us, while as an industry, we collectively attempt to cross the chasm?
Food for thought.
Something that would need to go into V1 is the ability to create coupons, and redeem them.
This would make conferences, meetings, and 'paper wallets' really interesting (think Adwords / Amazon $100 vouchers). Instead of fiat value, it's NEM. This will facilitate the way people "gift" other people. They don't have NEM wallets or never heard of NEM, but they have a link on their email, that if pasted inside a NEM wallet will give them NEM, whenever they need/want.
I proposed it to NXT, but they ignored. People that have NEM can spend NEM. If people have 0 NEM, how would they use a merchant? Freebies in 'currency' (but means nothing, since value is relative). Like having to have 1 NEM to send a message and depend on a faucet that depends on donations > bad start.
Let's look at an important observation here presented by Peter R.
Essentially it says the market capitalization, V=kN^2, accurately defining Metcalfe Value.
The conclusion we can draw is that if the distribution is large enough and there are enough transactions, we should see the market cap increasing proportionally with the square of the number of transactions.
A small distribution of users can possibly generate a large enough number of transactions, but it is more certain that a large distribution of users will generate a much higher number of transactions.
It narrows down the search for a "killer need" to one that has high transactional churn. Perhaps Jabo38 and Amytheplanarshift's suggestion is a "killer need"?
Why? Foreign workers, whether rich or poor ones are always on the lookout for a cheaper means of remittance. I know for a fact that there are many "illegal" operators overseas where these blue collar workers will band together, hand over the money to these "illegal" operators (basically they are unofficial aggregators who'd earn a commission over and above licensed money transmitters like Western Union) and remit a large sum home, sharing the costs of remittance.
Sending home $200, incur a minimum transaction fee of at least $20-$25. That equates to 10%-12.5% of the amount, which is a lot.
Sending $10K incur a charge of $20-$25 plus something like 1%. That equates to slightly over 1% of the amount over and above the exchange rate losses (due to unfavorable spread).
Hence, these aggregators play a big part in the equation.
India, Mexico and Philippines alone record about $200B worth of remittances annually.
Wouldn't this increase the transaction churn? Is this not a bigger market than a merchant market? Overstock transaction churn is less than 6 million a year. It needs 30,000 of the likes of overstock to achieve the same.
If we can target 1K of these aggregators, we could easily hit 10B a year. That equates to 1667 merchants of the likes of Overstock. Which is easier to achieve?
Which is more important? Payment solution or Fiat Integration?
AltNemo is aspiring to do both.
Something that would need to go into V1 is the ability to create coupons, and redeem them.
This would make conferences, meetings, and 'paper wallets' really interesting (think Adwords / Amazon $100 vouchers). Instead of fiat value, it's NEM. This will facilitate the way people "gift" other people. They don't have NEM wallets or never heard of NEM, but they have a link on their email, that if pasted inside a NEM wallet will give them NEM, whenever they need/want.
I proposed it to NXT, but they ignored. People that have NEM can spend NEM. If people have 0 NEM, how would they use a merchant? Freebies in 'currency' (but means nothing, since value is relative). Like having to have 1 NEM to send a message and depend on a faucet that depends on donations > bad start.
Are you saying something like a scratch card? That's easy to do with any coin. Unless you are saying something more than that. ;)
Something that would need to go into V1 is the ability to create coupons, and redeem them.
This would make conferences, meetings, and 'paper wallets' really interesting (think Adwords / Amazon $100 vouchers). Instead of fiat value, it's NEM. This will facilitate the way people "gift" other people. They don't have NEM wallets or never heard of NEM, but they have a link on their email, that if pasted inside a NEM wallet will give them NEM, whenever they need/want.
I proposed it to NXT, but they ignored. People that have NEM can spend NEM. If people have 0 NEM, how would they use a merchant? Freebies in 'currency' (but means nothing, since value is relative). Like having to have 1 NEM to send a message and depend on a faucet that depends on donations > bad start.
Are you saying something like a scratch card? That's easy to do with any coin. Unless you are saying something more than that. ;)
yeah, couldn't explain it better, it sounded more like a paper wallet with a private key than anything. it's an inversion of control (can't think of a better term), instead of sending NEM from inside an wallet, the wallet can predefined a certain amount that can be withdrawn from it from outside with a token, so it can go to any NEM wallet, existing or not, when redeemed.
[img width=800 height=347]http://i.imgur.com/47yHZ9u.png[/img]
Let's look at an important observation here presented by Peter R.
Essentially it says the market capitalization, V=kN^2, accurately defining Metcalfe Value.
The conclusion we can draw is that if the distribution is large enough and there are enough transactions, we should see the market cap increasing proportionally with the square of the number of transactions.
A small distribution of users can possibly generate a large enough number of transactions, but it is more certain that a large distribution of users will generate a much higher number of transactions.
It narrows down the search for a "killer need" to one that has high transactional churn. Perhaps Jabo38 and Amytheplanarshift's suggestion is a "killer need"?
Why? Foreign workers, whether rich or poor ones are always on the lookout for a cheaper means of remittance. I know for a fact that there are many "illegal" operators overseas where these blue collar workers will band together, hand over the money to these "illegal" operators (basically they are unofficial aggregators who'd earn a commission over and above licensed money transmitters like Western Union) and remit a large sum home, sharing the costs of remittance.
Sending home $200, incur a minimum transaction fee of at least $20-$25. That equates to 10%-12.5% of the amount, which is a lot.
Sending $10K incur a charge of $20-$25 plus something like 1%. That equates to slightly over 1% of the amount over and above the exchange rate losses (due to unfavorable spread).
Hence, these aggregators play a big part in the equation.
India, Mexico and Philippines alone record about $200B worth of remittances annually.
Wouldn't this increase the transaction churn? Is this not a bigger market than a merchant market? Overstock transaction churn is less than 6 million a year. It needs 30,000 of the likes of overstock to achieve the same.
If we can target 1K of these aggregators, we could easily hit 10B a year. That equates to 1667 merchants of the likes of Overstock. Which is easier to achieve?
Which is more important? Payment solution or Fiat Integration?
AltNemo is aspiring to do both. ;)
I can say the same of Brazil, we have the highest taxation of the world. There's nearly 60 separated taxes, and brazilians need to work 1/4 of the year just to pay taxes, and still, the government fetches nearly 1 trillion every year from IRS, plus the corruption thats rampant.
It narrows down the search for a "killer need" to one that has high transactional churn. Perhaps Jabo38 and Amytheplanarshift's suggestion is a "killer need"?
Why? Foreign workers, whether rich or poor ones are always on the lookout for a cheaper means of remittance. I know for a fact that there are many "illegal" operators overseas where these blue collar workers will band together, hand over the money to these "illegal" operators (basically they are unofficial aggregators who'd earn a commission over and above licensed money transmitters like Western Union) and remit a large sum home, sharing the costs of remittance.
Sending home $200, incur a minimum transaction fee of at least $20-$25. That equates to 10%-12.5% of the amount, which is a lot.
Sending $10K incur a charge of $20-$25 plus something like 1%. That equates to slightly over 1% of the amount over and above the exchange rate losses (due to unfavorable spread).
Hence, these aggregators play a big part in the equation.
India, Mexico and Philippines alone record about $200B worth of remittances annually.
Wouldn't this increase the transaction churn? Is this not a bigger market than a merchant market? Overstock transaction churn is less than 6 million a year. It needs 30,000 of the likes of overstock to achieve the same.
If we can target 1K of these aggregators, we could easily hit 10B a year. That equates to 1667 merchants of the likes of Overstock. Which is easier to achieve?
Which is more important? Payment solution or Fiat Integration?
AltNemo is aspiring to do both. ;)
Here in Italy most immigrants came from north Africa (Egypt, Morocco...).
Please, don't ignore them (you know what I mean).
NEM needs to find new ways of meeting needs that were not ever met before. So people, devs and third parties need to ask themselves, "What about having, getting, spending, holding, earning and/or investing money sucks for me? And how could NEM make that process faster, easier, safer, more simple, more fun, and/or more beautiful?"
Imagine a future where many of the pains of dealing with money and trading value as we know it today are removed, then lets think about how NEM can get us there.
I like to watch sci-fi movies set in the far future and examine the makers of the movies concepts of money. Somethings are pretty far out there, some just make sense.
It narrows down the search for a "killer need" to one that has high transactional churn. Perhaps Jabo38 and Amytheplanarshift's suggestion is a "killer need"?
Why? Foreign workers, whether rich or poor ones are always on the lookout for a cheaper means of remittance. I know for a fact that there are many "illegal" operators overseas where these blue collar workers will band together, hand over the money to these "illegal" operators (basically they are unofficial aggregators who'd earn a commission over and above licensed money transmitters like Western Union) and remit a large sum home, sharing the costs of remittance.
Sending home $200, incur a minimum transaction fee of at least $20-$25. That equates to 10%-12.5% of the amount, which is a lot.
Sending $10K incur a charge of $20-$25 plus something like 1%. That equates to slightly over 1% of the amount over and above the exchange rate losses (due to unfavorable spread).
Hence, these aggregators play a big part in the equation.
India, Mexico and Philippines alone record about $200B worth of remittances annually.
Wouldn't this increase the transaction churn? Is this not a bigger market than a merchant market? Overstock transaction churn is less than 6 million a year. It needs 30,000 of the likes of overstock to achieve the same.
If we can target 1K of these aggregators, we could easily hit 10B a year. That equates to 1667 merchants of the likes of Overstock. Which is easier to achieve?
Which is more important? Payment solution or Fiat Integration?
AltNemo is aspiring to do both. ;)
Here in Italy most immigrants came from north Africa (Egypt, Morocco...).
Please, don't ignore them (you know what I mean).
No community should be ignored. The examples given were just a tip of the huge iceberg which I am trying to prove a point. ;)
NEM needs to find new ways of meeting needs that were not ever met before. So people, devs and third parties need to ask themselves, "What about having, getting, spending, holding, earning and/or investing money sucks for me? And how could NEM make that process faster, easier, safer, more simple, more fun, and/or more beautiful?"
Imagine a future where many of the pains of dealing with money and trading value as we know it today are removed, then lets think about how NEM can get us there.
I like to watch sci-fi movies set in the far future and examine the makers of the movies concepts of money. Somethings are pretty far out there, some just make sense.
Contrary to the libertarians, we need to be reminded that whatever we are doing is a mainstream enabler and requires us to play ball with mainstream. I am not against it. In fact I think we should embrace it if ever we want to eventually evolve into a decentralized concern.
We need to create a catalyst to create the snowball effect. Once it happens, like the blockchain, it is irreversible. ;)
Buy assets and get dividends.
I have an idea for NEM assets.
I make digital art. Let's say I want to protect the copyright of my art while still giving it away free for personal use.
With the current way the world works, one has to involve lawyers and lots of time and money, plus it's generally difficult for people who may actually even WANT to pay me for the rights to use my work commercially if I do not go through the hassle of setting a price and a payment gateway and all of that.
Now, imagine a world where one could easily buy the rights to use my work for commercial purposes, AND have an easy way to invest in my work much like one would invest in a physical painting. NEM assets could make this happen. (Of course, Counterparty, Dogeparty, or the NXT AE could also be used for this, but if NEM makes it easy and markets this idea it could make NEM the go-to choice for this type of thing.)
Let's say I make a piece of art like: https://38.media.tumblr.com/683326acccfa1b47b2d685c39c0d1c4a/tumblr_nd4vxdR2gc1s12c3do1_1280.png
(Shameless plug, I did make this.)
Now, I could make a NEM asset with a limited quantity like say, 1000 that represents the rights to use this piece of art for commercial purposes. So, you're free to repost this on your blog or download it and use it as a wallpaper or any of that, but if you want to use my art in any commercial endeavor, you'd need to buy the asset that I issue on the NEM asset exchange.
Then, if I discover my art being used commercially somewhere it should not be, I can simply ask for proof of this asset. If they cannot provide that proof, then it is a clear case of infringement which can be handled accordingly. Otherwise, they are free to use it as they wish.
Interestingly, this also provides investment opportunities. If someone thinks I will be some sort of amazingly famous artist in the future, they could invest in my assets early for cheap and resell the rights later at a higher price when there is higher demand. This not only provides me with income, but provides an interesting investment opportunity for the public at large as well. Plus, it makes cases of infringement easy to identify.
The same concept could be applied to any digital item to create a type of digital scarcity and simple form of universal DRM for music, movies, books, etc.
For example, one could have a simple app for DRM that just checks your NEM account for the existence of an asset that represents the usage rights to a digital item and if it is not present, it would not allow the user to view or use the item. Since your NEM wallet is stored locally, this check could also theoretically be performed without Internet, which would eliminate the common complaint about DRM today which requires an "always on" connection.
With this method you could give away an album that is free to listen to for 1 month or any arbitrary amount of time, but after a certain point would "expire" if the asset that represents it is not present in your NEM wallet. This not only provides DRM but also a way of providing "limited edition" items in a digital age without scarcity. So, I could release a limited edition album with special bonus tracks with a limited supply of 1000 copies (i.e., 1000 asset shares). This again both creates scarcity and a great investment opportunity, much like a physical limited edition item would.
What do you guys think?
I have an idea for NEM assets.
I make digital art. Let's say I want to protect the copyright of my art while still giving it away free for personal use.
With the current way the world works, one has to involve lawyers and lots of time and money, plus it's generally difficult for people who may actually even WANT to pay me for the rights to use my work commercially if I do not go through the hassle of setting a price and a payment gateway and all of that.
Now, imagine a world where one could easily buy the rights to use my work for commercial purposes, AND have an easy way to invest in my work much like one would invest in a physical painting. NEM assets could make this happen. (Of course, Counterparty, Dogeparty, or the NXT AE could also be used for this, but if NEM makes it easy and markets this idea it could make NEM the go-to choice for this type of thing.)
Let's say I make a piece of art like: https://38.media.tumblr.com/683326acccfa1b47b2d685c39c0d1c4a/tumblr_nd4vxdR2gc1s12c3do1_1280.png
(Shameless plug, I did make this.)
Now, I could make a NEM asset with a limited quantity like say, 1000 that represents the rights to use this piece of art for commercial purposes. So, you're free to repost this on your blog or download it and use it as a wallpaper or any of that, but if you want to use my art in any commercial endeavor, you'd need to buy the asset that I issue on the NEM asset exchange.
Then, if I discover my art being used commercially somewhere it should not be, I can simply ask for proof of this asset. If they cannot provide that proof, then it is a clear case of infringement which can be handled accordingly. Otherwise, they are free to use it as they wish.
Interestingly, this also provides investment opportunities. If someone thinks I will be some sort of amazingly famous artist in the future, they could invest in my assets early for cheap and resell the rights later at a higher price when there is higher demand. This not only provides me with income, but provides an interesting investment opportunity for the public at large as well. Plus, it makes cases of infringement easy to identify.
The same concept could be applied to any digital item to create a type of digital scarcity and simple form of universal DRM for music, movies, books, etc.
For example, one could have a simple app for DRM that just checks your NEM account for the existence of an asset that represents the usage rights to a digital item and if it is not present, it would not allow the user to view or use the item. Since your NEM wallet is stored locally, this check could also theoretically be performed without Internet, which would eliminate the common complaint about DRM today which requires an "always on" connection.
With this method you could give away an album that is free to listen to for 1 month or any arbitrary amount of time, but after a certain point would "expire" if the asset that represents it is not present in your NEM wallet. This not only provides DRM but also a way of providing "limited edition" items in a digital age without scarcity. So, I could release a limited edition album with special bonus tracks with a limited supply of 1000 copies (i.e., 1000 asset shares). This again both creates scarcity and a great investment opportunity, much like a physical limited edition item would.
What do you guys think?
Sounds good. But I think we will need to do a bit more drill down on the proof of right to use. There should be an easy way of verifying than to ask the person to proof so. i.e., more automated.
I have an idea for NEM assets.
I make digital art. Let's say I want to protect the copyright of my art while still giving it away free for personal use.
With the current way the world works, one has to involve lawyers and lots of time and money, plus it's generally difficult for people who may actually even WANT to pay me for the rights to use my work commercially if I do not go through the hassle of setting a price and a payment gateway and all of that.
Now, imagine a world where one could easily buy the rights to use my work for commercial purposes, AND have an easy way to invest in my work much like one would invest in a physical painting. NEM assets could make this happen. (Of course, Counterparty, Dogeparty, or the NXT AE could also be used for this, but if NEM makes it easy and markets this idea it could make NEM the go-to choice for this type of thing.)
Let's say I make a piece of art like: https://38.media.tumblr.com/683326acccfa1b47b2d685c39c0d1c4a/tumblr_nd4vxdR2gc1s12c3do1_1280.png
(Shameless plug, I did make this.)
Now, I could make a NEM asset with a limited quantity like say, 1000 that represents the rights to use this piece of art for commercial purposes. So, you're free to repost this on your blog or download it and use it as a wallpaper or any of that, but if you want to use my art in any commercial endeavor, you'd need to buy the asset that I issue on the NEM asset exchange.
Then, if I discover my art being used commercially somewhere it should not be, I can simply ask for proof of this asset. If they cannot provide that proof, then it is a clear case of infringement which can be handled accordingly. Otherwise, they are free to use it as they wish.
Interestingly, this also provides investment opportunities. If someone thinks I will be some sort of amazingly famous artist in the future, they could invest in my assets early for cheap and resell the rights later at a higher price when there is higher demand. This not only provides me with income, but provides an interesting investment opportunity for the public at large as well. Plus, it makes cases of infringement easy to identify.
The same concept could be applied to any digital item to create a type of digital scarcity and simple form of universal DRM for music, movies, books, etc.
For example, one could have a simple app for DRM that just checks your NEM account for the existence of an asset that represents the usage rights to a digital item and if it is not present, it would not allow the user to view or use the item. Since your NEM wallet is stored locally, this check could also theoretically be performed without Internet, which would eliminate the common complaint about DRM today which requires an "always on" connection.
With this method you could give away an album that is free to listen to for 1 month or any arbitrary amount of time, but after a certain point would "expire" if the asset that represents it is not present in your NEM wallet. This not only provides DRM but also a way of providing "limited edition" items in a digital age without scarcity. So, I could release a limited edition album with special bonus tracks with a limited supply of 1000 copies (i.e., 1000 asset shares). This again both creates scarcity and a great investment opportunity, much like a physical limited edition item would.
What do you guys think?
Sounds good. But I think we will need to do a bit more drill down on the proof of right to use. There should be an easy way of verifying than to ask the person to proof so. i.e., more automated.
It's probably possible to modify some pixels or header data in such a way to get a unique byte sequence that can be hashed. Once hashed, that could be put in a message on the block chain and some system could be built on top that tracks usage of the files and licensing based on that. Each license could have a unique hash and the image bytes or header bytes could be changed to create unique hashes.