Post
Topic
Board Announcements (Altcoins)
Re: NEM Official Thread -NEM has launched[Updates&Discussion]
by
wakasaki96744
on 01/04/2015, 23:59:25 UTC
Glad to see that the launch happened smoothly with no major problems. Smiley

Just a few questions though:

1.) I have a NEM private key and address. I looked up my address on the block explorer and all my coins seem to be there. Is there a timeframe in which I have to enter my private key into the client or can collect my real NEM a week/month/year from now? I assume it's the latter?

2.) Why does it say "Status: Locked"?

3.) Can I start forging without doing any transactions? Just the NEM sitting in my account from the genesis block? According to the block explorer, my importance score is 0.1%. Is this good?

4.) Is Poloniex the only exchange that NEM is currently trading on? I only bought 0.1 NEMstake which means I only have 225,000 coins and I'd like to bring this number up to 1,000,000 eventually.

Your private key just allows access to the account that holds the XEM from the NEMesis account. There is no timeline unless you consider the length of time NEM exists as one.

The status locked just means you are not harvesting on that account. You need 1000 XEM in vested balance to do so. And you have to initiate harvesting from within the account. If you do local harvesting it will be the account you are using, if you do delegated harvesting it will be the proxy account that you give your importance to.

You can start harvesting without doing any transactions. Just need the minimum on vested balance. Also your importance score can increase depending on the amount if transactions you do compared to everyone else I believe.

Poloniex is the only exchange at the moment. That will probably change shortly however.