Re: [NEM] NEM -New Economy Movement - No Envy Movement

Also if POI is to be implemented it will be important IMO that there will be a account/alias bound reputation system.

But the major flaw that I see atm with POI is regarding the fact that you can just circulate coins between your own account and get hashing power that way. If this isn't prevented somehow I suggest that the forging will be at maximum 20% based on POI.

But these are all my speculations, I've got no legitimate knowledge on the mechanisms of POI. Lets just see that how the white paper turns out.

I guess the 0.1% fee can prevent artificial coin circulation if it´s implemented with some POI forging power cap.

Good point! But won't the 0.1% fee be a bit high considering the long term of the coin? If it gains success nobody will be willing to pay those transfer fees. The fee should at least have to possibility of being lowered in the future.

I´m ok with a 0.1% fee even in the long-term. An average joe spending all his income using NEM will pay a couple of dollars in transaction fees every month. The real danger I see is the proposed minimum fee of 1 NEM ... evil for microtransactions.