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Showing 8 of 8 results by hydkyll
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Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
hydkyll
on 19/02/2014, 18:28:58 UTC
It's maybe something that doesn't make sense until some adoption has occurred, but a crowdfunding website with NEM would be really great. Something like this: http://vertcoinmarket.com/blog/.

(Our own forum would be a good place to discuss such things...)
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Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
hydkyll
on 17/02/2014, 20:57:38 UTC
On http://www.ournem.com/ it says "We could make trade and finance fairer when we use a decentralized currency and reduce the influence of the established capital." Shouldn't that be "... if we used a decentralized currency ..."?
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Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
hydkyll
on 14/02/2014, 00:30:03 UTC
...

Agree with the comments. I have been thinking what can be do to give value to NEM beyond the still restricted world of crypto currencies. Maybe, if the development can introduced the idea of NXT's coloured coins and assist's exchanges in straightforward way, I guess it can be more easy to establish markets in which NEM can be used to buy/sells gods and thus transfer value to the coin. Thus, one of the markets that NEM can exploit is those agricultural products under the denomination of Fair Trade. Quite often, those products are sealed by small cooperatives of farmers in third developed countries. I envision in the near future that NEM, thanks to its egalitarian character, can be used by small communities or cooperatives to interchange its products in a fair way, without the intromission of intermediates that inflates the prices on their benefits

Yes these things are important but I feel the initial distribution is still somewhat of an issue. It's what should distinguish us from NXT, an IPO with legitimacy. And I don't think 3000 share holders are really enough for that. I understand that more might not be manageable but there are also other ways of distributing coins other than giving them to the shareholders. I think Freicoin had some good ideas here. They have this program where you can donate coins to some non-profit organizations and they add extra coins to your donation from a fund (see here https://foundation.freicoin.org/#/donations). We could get some very good publicity if NEM had something similar.
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Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
hydkyll
on 10/02/2014, 17:41:22 UTC
Nakamoto is a bit long, I will admit, but it is only 1 syllable more than satoshi.
Naka could work as well. This would just be 中. This is also the short country name of China (中国). 中 could be the currency symbol. It is already in unicode...

新 means "new" and is pronounced the same in Chinese and Japanese (xin/shin). That character is also in unicode!!

I like Naka so while we pay a homeage to Satoshi Nakamoto it is somewhat different from bitcoin's naming tradition. We could have the currency symbol at the same time. One stone kills two birds.

So 1 NEM= 1 bitcoin; 1 naka= 1satoshi.

I like naka too.  Satoshi is too long a name for common use and is also too small a value to have any practical relevance (1 BTC = 100,000,000 satoshis) but 1 NEM SHOULD NOT = 100,000,000 naka.  It is very important to have a unit that has a useful value that is not too high so you are using a bunch of decimals but is not so low like a satoshi. 1 NEM = 1000 naka?

I also support Naka. And I agree that it should not be the name for the smallest subunit but rather the everyday unit.

So let's say if 1% of the world population uses NEM, there should be on average around 100,000 Naka for each person. (Maybe someone can think of a better metric?)

Now, if there are 4 billion coins and 1 NEM = 1000 Naka, there are 57,000 Naka for everyone in the 1%. So I think this works.
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Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
hydkyll
on 10/02/2014, 16:56:53 UTC
Question - is there any feasible way to simplify a digital currency, in terms of the number of decimal places that it is calculated to?

One of the larger issues that I see regarding the possibility of mainstream adoption of any digital currency is the fact that it's too complex. I don't think the average person wants to keep track of their currency to so many decimal places. "I own 103.01933485 NEM" sounds very complicated. "I own 103.01 NEM" is much more palatable, I think.

Maybe I'm way off - just a newcomer's perspective though.


The position of the decimal point is of course completely arbitrary. One way to counter this issue is to introduce subdivisions (as is currently being discussed here). So, 103.01933485 NEM -> 103019334.85 µNEM (with mabye a nice name for µNEM).

The other way to get rid of too many decimal places is to issue more coins and thus avoiding the need of divisibility.

(The core issue here is that the value of NEM will most likely vary extremely between the initial distribution and later times. DOGE, for example, took the approach of simply producing an extremely huge amount of coins. There are currently 50,000,000,000 DOGE and only 12,000,000 BTC. However, all those Dogecoin are only worth $62,000,000 whereas all Bitcoins are worth $8,000,000,000. So as 1 DOGE is only worth $0.0013, you won't have to deal so much with decimal places there because 1 DOGE already represents a sufficiently small amount of value.)
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Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
hydkyll
on 05/02/2014, 19:48:17 UTC
In case I'm not the only one who wondered how the logo would look like if the size and position of the lines more closely resembled the actual letters, here it is:
http://i.imgur.com/qHcnSN2.png
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Board Legal
Re: THERE IS NO TAX and there NEVER be any Tax on Bitcoin
by
hydkyll
on 01/02/2014, 19:30:26 UTC
Here is how Bitcoin could be taxed:

The tax office gives a sheet of paper to every merchant that uses Bitcoin and asks them to write down the amount of Bitcoins they received. Then the tax office decides how much taxes they should pay and asks them to transfer the appropriate amount to the Bitcoin address of the tax office.
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Board Announcements (Altcoins)
Re: [ANN] NEM -4 billion coins- Equal Shares for ALL - Registration thread (part 2)
by
hydkyll
on 01/02/2014, 18:42:31 UTC