NEM is the New Economy Movement
A groundbreaking crypto-currency that gives control of their economy back to the people and establishes them as sovereigns over their own destiny. A currency is an expression of a political ideology and social attitude. Do not mistake us as just another cryptocurrency. We are more than a cryptocurrency, we are a New Economy Movement.
NEM :: Descendant of Nxt - NEM - New Economy Movement
logo okaynow by futureutopian, on Flickr
Completely Fair Distribution - Equal Shares for ALL
No arbitrary distribution. Decentralized. The most egalitarian coin. Show your love to NEM.
NEM - #DevelopmentTeam
Opticalcarrier is an experienced distributed network technician with deep knowledge of the crypocurrency world. He is involved with NXT since the beginning and is now in command of a major part of NXT node infrastructures. He will take the lead role on building the NEM network infrastructure. bitcointalk.org/index.php?action=profile;u=165191
Jaguar is a highly experienced programmer; He shared the winning bounty for making JAVA signing codes for NXT; He has also been contributing important insights to the NXT source code flaw finding efforts. Jaguar will be responsible for NEM's technical direction. bitcointalk.org/index.php?action=profile;u=183319
Thies is relative newcomer to this forum but he is experienced in Java, large system architectures and other different technologies driving OSGI enterprise, JEE6, Integration Bus technology. He will work with Opticalcarrier and Jaguar on technical aspects of NEM. bitcointalk.org/index.php?action=profile;u=189273
UtopianFuture will work as NEM organizer/ promoter. He will monitor overall progress of NEM project and ensure NEM's core concepts of fairness and the egalitarian principle are implemented. bitcointalk.org/index.php?action=profile;u=182582
A note on organization:
NEM will follow the principle of fluid organization. We believe the NEM's core principles of fairness and equality will attract many other talented developers and helpers. So while all of us are committed to NEM, we would welcome others developers/ helpers to join us and make NEM a success.
NEM discussion thread bitcointalk.org/index.php?topic=426303.0
NEM forum
https://forums.nxtcrypto.org/viewforum.php?f=58&sid=f9b9689593f761096779bfca849bcde6NEM reddit page
http://www.reddit.com/r/nem/NEM bounties : see in the discussion thread or in forum
NEM ongoing stakeholder list at end of page 85
https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdDZ0amZpM00wQXhrR2lJM3pCOGRhNFE#gid=0; huge file 1379 stakeholders at the end of page 85.
HOW - TO
The fundraising is especially designed to promote fairness and egalitarianism. This is the first funding scheme of this type ever and we believe it is revolutionary in its effort to bring egalitarianism to the crypto industry.
If you do not have a Bitcointalk account yet, you need to create one to reserve a stake spot. Do not lose the account password, because you will need to access the account later to claim your share.
In the first 20 pages, stake spots are reserved only by showing "interest". After page 20, a fee has been introduced for late adopters. People who join after page 20 will still be distributed an equal share of NEM but they have to pay a fee to join in. Then after every 10 pages, the fee will be adjusted as a multiple of the initial fee. Another way to reserve a stake spot is to promote NEM to the outside community. Condition of promotion for a stake spot will be revised every 10 pages by the #DevelopmentTeam . We would greatly encourage you to spread NEM's idea to mainstream people outside the cryto-community even when you have already reserved a stake spot.
After we reach a critical mass, we will launch the NEM genesis block, (we plan not to have more than 4000 accounts in total, see FAQ below). A total of 4 billion NEM will be distributed equally to all adopters. That means every stakeholder will have an equal and fair share of NEM when NEM blockchain officially starts. Then you can sell- buy NEM freely and let the market forces determine the price.
One Bitcointalk account is entitled one stake spot. If you send more than the required amount at one time or multiple times, we will consider it a donation to NEM.
History of the fund raising :
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First 20 pages : free to join in
pages 21-30 : fee = 0.001 btc or 10nxt
pages 31-40 : fee= 0.002 btc or 20 nxt ;
pages 41-50 : fee= 0.004 btc or 40 nxt
page 51-60 : fee= 0.008btc or 80nxt
page 61-70 : fee=0.016btc or 160nxt
page 71-80 :fee=0.0025 or 250nxt
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How to join after page 80. Two ways
1. Pay a fee to join in
Send 300 NXT to the address 14343293611098709683
Send 0.03 BTC to the address 1Lk5Paws9T1YpoSeLeZT7ZeSQKW7UNq4TJ
Counter sockpuppet measure: Sending address could be checked and if there were already two payments made to NEM's addresses before, then the third payment would be considered a donation. This measure comes into effect at page 81 and does not apply retroactively. So DO NOT SEND the fee to NEM from an exchange, you would need to withdraw to your account first. Thanks for your understanding.
After you send the fee, include the transaction hash in your reply post in this thread, to confirm your stake reservation.
Donation is welcome but not necessary
2. Promote NEM to receive a stake pot without fee
+ Link this thread to any public forums or social media sites such as twoplustwo and Reddit ; Facebook ; Twitter; tennis, sport, fitness, Flickr, Pininterest etc. anywhere with decent traffic so that people can hear about NEM ; or makes a comment in any crypto related articles so the readers know about NEM. You have to show proof of your work in your reply post in this thread, then you have reserved a stake spot. Please be considerate when you promote NEM to the outside community.
+ Make a logo, currency symbol for NEM and post in your reply thread, then you have reserved for a stake spot and you can also get a development stake spot. See bounties for more information.
+ Make a fun meme for NEM and post in your reply thread, then you have reserved for a stake spot. This condition temporarily stops since we had quite a few memes in the last 10 pages. Could make a comback later.
+ Translate this thread to any other language and post it to one of that language's community, then you have reserved for a stake spot.
+ Make a video for NEM, then you have reserved for a stake spot.
The fee to join in will be 350 NXT or 0.035BTC after page 90. The fee will be increased by 50NXT or 0.005BTC after every 10 pages until the fundraising is over.
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Integrity guaranteed. NXT, BTC sent to this project won't be touched until an official date for the genesis block is announced. This project is serious and will go forward. The money collected here will be dedicated 100% to NEM developers to make the genesis block and other supporting apps. It all goes to make NEM a feasible project.
If you want to use escrow, feel free to ask Anon136 to hold your money until an official date for launching the genesis is announced. Show proof that he holds your fund, then you reserve a stake spot.
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NEM is likely to be a fork of Nxt code. I love NXT and I admire the brilliance and vision of NXT inventor BCNext. His idea of a decentralized world is beautiful and in that world we should have more forks of his work such as NEM.
NEM as a fork of NXT could have following features
NEM 100% Proof-of-Stake (PoS) currency. Coins are earned solely by charging transaction fees. Unlike other currencies with PoS mining, NEM's PoS mining does not cause monetary inflation. The total amount of NEM in circulation is 4 billion. NEM is resistant to +90% attacks via its transparent mining algorithm.
NEM improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue. Time between blocks is one minute. This increases the rate of orphaned blocks, but makes it more convenient for the users.
NEM doesn’t use so-called “scripts” aka predicates. This simplifies and accelerates transaction processing. Advanced features like multisig will be created on top of the core as 3rd party services.
NEM is routable through Tor and I2P anonymous networks.
Some improvement over NXT could be possible:
Block Chain stored in database
Secure Wallet
Bitcoin like Addresses
Multi Precision arithmetic
NEM as a fork of NXT could have following features
- Decentralized Alias System / DNS - Register names and assign them to URIs. URIs can be anything from web addresses to NEX account numbers. These aliases will be tradeable in the near future.
- DDoS Protection
- Decentralized Asset Exchange / Colored Coins - This allows gateways to issue assets on the NEX network. These assets can include cryptocurrencies (BTC, LTC, etc), fiat currencies (USD, EUR, RMB, etc), stocks and other assets.
- Transparent Mining - Transactions are encrypted. Only PoS block generator can decrypt transactions.
- Arbitrary Messaging
- Instant Transactions
- Decentralized Marketplace / Auction - Buy or sell goods/services in a distributed manner. All listings are broadcast to all nodes on the network in P2P fashion.
- Distributed Storage
- Multi-signatures
- Blockchain Shrinking
- Two-phase Payments
- Voting System
- Reputation System
- Decentralized Mixing Service
- Distributed Computing
- Smart Contracts
- Hardware Wallets
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NEM needs you to spread the word.
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Codes from "opensource" or "decompiled" version of NXT are available
Initial NEM codes can be found here
https://github.com/NxtEM/nem-----------------------------
In the future:
If you can run a NEM node, it will help us stabilize and secure the network. If you have invested in NEM, it is beneficial to you to run a VPS to help to secure the NEM network. Hallmarking your node helps the network, but is not absolutely necessary
How-to directions on running a hallmarked VPS NEM node
How-to run NEM on your Raspberry Pi
Security Tips
NEM videos : upcoming
NXT videos go to NXT thread bitcointalk.org/index.php?topic=345619.0
Join in if you want to be a part of NEW ECONOMY MOVEMENT. 4 billion coins will be issued. That's right there will be 4 billion of NEM instead of 1 billion. We thought NXT is like gold which can be used in valuable transactions while NEM is like silver and can be used everyday.
Disclaimer:
- While we are committed to the idea of " Completely Fair Distribution - Equal Shares for ALL "; the fund raising terms are subject to changes upon the discretion of the #DevelopmentTeam .
- There is no refund. Nothing comes out of NEM's receiving addresses until the genesis block is launched. We are committed to move the project forward. However, in the unlikely event that the project disintegrates and no one picks it up, the remaining development fund will be sent to a charity of the community's choice.
- No contractual promise is made to anyone.
- Be patient
FAQ:
1. How many shares of NEM would I get ?
There is no specific number yet. Our current formula is number of NEM per stake spot = 4 billion/ (total account stake + development stake). At the moment we are aiming for roughly 3-4000 accounts in which 5% is development stake, but it could be more, could be less depending on the fund raising.
2. What is the difference between regular stake and development stake ?
No difference except that development stakes are reserved for NEM developers/ helpers and they can use their regular accounts for these stakes.
3. I am an investor. Can I give you 50 BTC to get a bigger stake in NEM ?
NO - NEM's egalitarian principle means no single stakeholder should receive much more NEM than another stake holder regardless of how rich he is
4. How could you prevent multiple buy-ins ?
In short - We can't. Multiple buy-in will be possible with multiple accounts. We also want you to have the ability to buy a NEM stake for your loved ones so they could all join the movement. However accumulating many NEM stakes goes against NEM's principles of fairness and equality, therefore the #DevelopmentTeam reserves the right to refund you the money if an effort to unfairly accumulate NEM stakes is discovered.
Detail explanations are here
bitcointalk.org/index.php?topic=426303.msg4661493#msg4661493
bitcointalk.org/index.php?topic=426303.msg4671768#msg4671768
5. I contribute to NEM development so much more than some others. Why don't I have more (development) stakes than him/ her ?
Initially I would make decisions on allocation of development stakes with input from the #DevelopmentTeam and the community. So this blame falls on me. I will try my best to follow NEM's principle of fairness and equality but mistakes can sometimes happen and some people might be unhappy. On the other hand, NEM is also NO ENVY MOVEMENT. Volunteerism is greatly appreciated. it should be kept in mind that NEM-ers do not envy the rich; NEM-ers do not envy the talented; NEM-ers do not envy the beautiful because we all are beautiful people Smiley
6. Can you compare NEM to NXT, Mastercoin, CounterParty Protocol and Ethereum ?
A brief comparison to NXT is made here bitcointalk.org/index.php?topic=426303.msg4675997#msg4675997. To compare with others, in short NEM is the first crypto-coin that no wealthy person or early adopters can obtain a significant percentage of by using money to buy-in or by using a huge mining rig. That to me symbolizes a great sense of fairness and egalitarianism. There will also no one with many NEM available for "dumping" when it starts on an exchange. That means there will be a significant financial upsides to NEM. On the technological front, NEM would have its own blockchain and features developed by the #DevelopmentTeam .
post by utopianfuture on January 19, 2014, 03:09:00 AM
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Topic: [ANN] NEM : Descendant of NXT - 4 billion coins - Equal Shares for ALL (Read 17215 times)