Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
Nice post yurkomik. I like your ideas very much, I too think we need a market where we can trade/buy real goods with NEM. Without a proper market, NEM is just another dead coin in the long-run( 1 yrs?)
As of this moment, two events are likely to happen with the release of NEM
Scenario 1: NEM gets released, people start to rush to dump their coins to make a quick buck leading to a dead cypto.
Scenario 2: Most people hoard their coins for forging, unintentionally artificially inflating price ( NXT?) but susceptible to big price volatility with the smallest trade activity,rendering the currency useless.
Money was created to facilitate trade between goods and services, with cryptos we are creating money without goods and services. 99% of all alt currencies will be dead in a year all due to lack of a market, lets make NEM the exception to the rule. We really do need participants for this experimental currency to succeed not silent stake holders.
Let me be one of the first to volunteer , My name is Pasang I own a small hotel in Bhutan. I could offer my rooms in NEM but since most of u guys are probably not in my locality it would be pointless, instead I would be willing to post 10 items for sale every month for sale priced in NEM on its release for the next four months to get the ball rolling.
I hope more of you will join me in this endeavor, We are all potential NEM coin millionaires and now it is up to us to make this million actually worth a million or just worthless digital numbers.
As of this moment, two events are likely to happen with the release of NEM
Scenario 1: NEM gets released, people start to rush to dump their coins to make a quick buck leading to a dead cypto.
Scenario 2: Most people hoard their coins for forging, unintentionally artificially inflating price ( NXT?) but susceptible to big price volatility with the smallest trade activity,rendering the currency useless.
Money was created to facilitate trade between goods and services, with cryptos we are creating money without goods and services. 99% of all alt currencies will be dead in a year all due to lack of a market, lets make NEM the exception to the rule. We really do need participants for this experimental currency to succeed not silent stake holders.
Let me be one of the first to volunteer , My name is Pasang I own a small hotel in Bhutan. I could offer my rooms in NEM but since most of u guys are probably not in my locality it would be pointless, instead I would be willing to post 10 items for sale every month for sale priced in NEM on its release for the next four months to get the ball rolling.
I hope more of you will join me in this endeavor, We are all potential NEM coin millionaires and now it is up to us to make this million actually worth a million or just worthless digital numbers.
We have been bouncing around ideas to create a market structure for real goods. One of the problems is that of trust. There has to be a mechanism for feedback for both the buyer and seller, that is built into the system. I hope to include something like this for NEM in the future.
Agreed! If we can get a reputation system that is linked to the account alias we will have huge advantage against all other coins!
@Jaguar: How do you feel about storing reputations in the blockchain ? One could pay 1 NEM to store a -1 or +1 to a specific address. I know changing address is not exactly hard but at least they'd have to change address and people tend to be more cautios with new addresses. Also maybe the reputation could be transfered to the new address ? Like marking the coins that are owned with a rep instead of an address ?
Just thinking out lout here
Storing positive feedback won't work because a nefarious person could just boost their feedback arbitrarily, especially if the price is really low. We really need something that would damage the value of NEM held by a nefarious user, such as shitcoins: http://www.loper-os.org/?p=988