Why would I invest $125 to "harvest"

O.K. Yeah I saw the spike and gained SOME interest - however if I need 10,000 to start “harvesting”

That’s $125 - LOL …

Am I missing something ? I get this is a new concept - but paying to mine ? Hmmmmm

There is no “mining” reward here, only fees from blocks so with 10000 you wont “mine” anything anyway

OK - Harvest, whatever. Where is the long term concept in a market like this ?

What happens if it reaches $1.00 ?

You pay $10,000 to start harvesting ? WHAT ?

At $1.00 (essentially a share) it’s a micro stock lol … This was thought out as a micro payment solution.

I was planning on investing $50 tomorrow until I saw the lack of replies, and ultimately THIS very weak reply. Which shows you obviously have little to no lack of crypto currency. I suggest you sell now, because you are dealing with a coin worse then DogeCoin

Seriously I cant invest even if it’s a day trade now lol …

Although with lack of selling interest from people (like you) that believe this is a long term investment… I could probably triple a small investment EASILY with market fluctuations.

What would happen if Ethereum, Lite Coin, Bit Coin, You name it … Started requesting UP FRONT investments (not talking hardware) to “harvest” ?

Do you see my point ?

Concept works if it is an initial investment of $1, but as the coin grows in value it will have a CAP at a max of $.25 … And that is only due to long term believers …

Sorry i was not really trying to be sarcastic, but the truth is that with this coin harvesting is not so profitable. People are harvesting mostly because they like this project. 10000 limit is security issue therefore i doubt it will be lowered soon, but i hope fees will be lowered in near future

Bitcoin litecoin is diferent story. There are mining rewards so mining is profitable investment. Maybe one time when nem is heavily used harvesting will be profitable but it is not the case now

If you want to learn more about how nem works and why there is harvesting limit try here http://blog.nem.io/nem-technical-report/

But it is really technical/mathematical …

I glanced, mainly pages 14-17 …

I still think the fact of up front investment is unthinkable. Profitable or not.

Bottom line ? The guy that stated this coin, wanted forced market activity - outside of mining. Forcing it into the exchanges. It is beyond corrupt in my mind. Despite the possible boost - IF it had no initial investment.

In other words … If the price was the same, and I saw the same price boost, I would NOT buy if I had to invest $X.XX - It is a forced investment in a penny stock. That’s all the crypto is.

Sorry, I really was hoping for more. Volume, Price Jump, Etc … All looked great until I read into the core requirements. If they had become scalable - Say a flat $1.00 - MAYBE. But Still probably not.

It’s a FORCED investment. I don’t feel comfortable with that !!!

You are angry about 10000 when in fact you need 3 000 000 xem to run supernode which actually get some reward.

Up front investment? So youre complaining that you deposit XEM on your own account and be able to harvest(They are still yours!) at the same time, so delivering a service that pays you back if you harvest the right block… I strongly recommend you to read up into NEMiverse before spreading any kind of misinformation over here. You have all the time complete control over your funds.

Again to make it absolutely clear:

The 10k XEM you put down in NEM for harvesting are still yours! You don´t pay anybody but invest in yourself.

On a sidenote, you need more then 10k because you need 10k vested to become eligible for harvesting as 10% of the left unvested balance turn into vested balance every 24 hours.

NEM stands for longterm and a continious high quality developing. This all just becomes possible through a unique symbiosis of the core development team and the community who go hand in hand to keep the network healthy and fast.
You should really care more about the important details under the hood.

Nobody here is “FORCED” to anything, if you feel like that then it would be probably better for you if you just stay away aslong you don´t understand the tech.

I recommend you to start here if you desire to gain a understanding of NEMs tech:

If you have open questions after reading the tutorials you can still ask them here. Preferable with a more friendlier voice then what you put to show for now because we are all just humans. :slight_smile:

1 Like

It’s a FORCED investment. I don’t feel comfortable with that !!!

Nothing is forced. The purpose of NEM is not to make people rich. NEM is a peer to peer platform that offers services which are only possible with a decentralized peer-to-peer cryptocurrency like XEM. If you are only looking to make money then you are in the wrong place. If you want to support a platform that solves a lot of problems with the worlds financial systems and society in general then welcome aboard!

Cryptocurrencies are freemarket choice. Profits moves freemarket and both sides win. Profits for harvesting vs profits for improving nem network.

No need to invest $125.
If you have more than 10.000 vested balance in your account you can earn the fees of a block (harvest) if you activate harvesting.
If your vested balance is lower, the probability to generate a block is too small to bother.
If you don’t want to harvest, no prob, don’t.

Or are you looking for reasons why it could be a good reason to invest and by some XEM or why you should create an account and put them in your own account? Those are completely different questions. I’m not sure what answers you’re looking for.

I am reading this old thread, and think, investing $125 to “harvest” was such a bargain back then …

…the design is so elegant, in the future, we may not get to “harvest” by even paying $1250.

3 Likes

I just saw your reply now.

Yes before a year 125$ would have easily made one harvesting…Now its a little bit more to be able to harvest. But then the blocks get a a few more transactions so its also more worthwhile.

I wonder if he did invest that $125 in the end? :slight_smile:

2 Likes

Probably not, but now he might already think a little bit different about this topic. Maybe now he paid the 1000$ to harvest instead of the 125$. :slight_smile:

*2000$ :slight_smile:

Each time this topic gets bumped up, salty tears stream down my face :sob:

This is like asking why should I invest in mining equipment to mine. Strikes me as a little ignorant to be honest.
Also why waste your time complaining about a coin that’s worse than doge ? How about you just stick to the forums of your precious then ?
Either have an informed debate or just gtfo.