NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs

[gsxrl3oi]

when would catapult be released?

[greentea]

https://bitconnect.co/bitcoin-news/434/japan-creates-bitlicense-and-becomes-a-legal-currency/
https://blog.indiesquare.me/the-new-bitcoin-regulation-in-japan-worse-than-the-bitlicense-e669618d69e0#.h74uhjvok

Japan's new Bit License coming into effect in March and already dubbed "worse than New York's Bit License".  Need $500,000 and spend $Millions in Japan to be approved.  IOUs and Tokens like CounterParty and Augur are banned.  There will be an approved list of cryptocurrencies and no indication yet if NEM will be on that list or not.

Man, this is not a good move for crypto in Japan.  Really a roadblock for both bitcoin and alts and hard to see the long-term affects of this.

For example, what does Zaif have to do to become complaint just to operate as an exchange?

It would be nice if anyone from the NEM team could chime in on how this may affect NEM's operations in Japan.

[TaunSew]

https://bitconnect.co/bitcoin-news/434/japan-creates-bitlicense-and-becomes-a-legal-currency/
https://blog.indiesquare.me/the-new-bitcoin-regulation-in-japan-worse-than-the-bitlicense-e669618d69e0#.h74uhjvok

Japan's new Bit License coming into effect in March and already dubbed "worse than New York's Bit License".  Need $500,000 and spend $Millions in Japan to be approved.  IOUs and Tokens like CounterParty and Augur are banned.  There will be an approved list of cryptocurrencies and no indication yet if NEM will be on that list or not.

Man, this is not a good move for crypto in Japan.  Really a roadblock for both bitcoin and alts and hard to see the long-term affects of this.

For example, what does Zaif have to do to become complaint just to operate as an exchange?

It would be nice if anyone from the NEM team could chime in on how this may affect NEM's operations in Japan.

I don't think people understand the gravity of this decision.  Bit License applies to everything, not just exchanges.  Someone like Takao Asyama could be on the hook for paying $500,000 for BitGirls, $500,000 for Mijin and $500,000 for Zaif and then another $4,000,000+ for compliance.   Though I'm thinking creative accounting can be done, by putting everything under Tech Bureau, to reduce it down to $500,000 but still.  

Question is can Japan's Blockchain Consortium (BCCC) even put together $500,000 to get a license too?  Who will be donating that money to keep it going?  Usually those kind of organizations crumble like an old cookiee when freeloader syndrome kicks in.   A bit more extreme but remember when R3 started holding their hand out for money and then people just starting leaving in droves.

[nzminer]

https://bitconnect.co/bitcoin-news/434/japan-creates-bitlicense-and-becomes-a-legal-currency/
https://blog.indiesquare.me/the-new-bitcoin-regulation-in-japan-worse-than-the-bitlicense-e669618d69e0#.h74uhjvok

Japan's new Bit License coming into effect in March and already dubbed "worse than New York's Bit License".  Need $500,000 and spend $Millions in Japan to be approved.  IOUs and Tokens like CounterParty and Augur are banned.  There will be an approved list of cryptocurrencies and no indication yet if NEM will be on that list or not.

Man, this is not a good move for crypto in Japan.  Really a roadblock for both bitcoin and alts and hard to see the long-term affects of this.

For example, what does Zaif have to do to become complaint just to operate as an exchange?

It would be nice if anyone from the NEM team could chime in on how this may affect NEM's operations in Japan.

I don't think people understand the gravity of this decision.  Bit License applies to everything, not just exchanges.  Someone like Takao Asyama could be on the hook for paying $500,000 for BitGirls, $500,000 for Mijin and $500,000 for Zaif and then another $4,000,000+ for compliance.   Though I'm thinking creative accounting can be done, by putting everything under Tech Bureau, to reduce it down to $500,000 but still.  

Question is can Japan's Blockchain Consortium (BCCC) even put together $500,000 to get a license too?  Who will be donating that money to keep it going?  Usually those kind of organizations crumble like an old cookiee when freeloader syndrome kicks in.   A bit more extreme but remember when R3 started holding their hand out for money and then people just starting leaving in droves.

I think Japan has to be careful.
But basically with the price that high, perhaps they are hoping to shut down all cryptocurrencies?
Will wait and see.
Would be a very hard thing to try and enforce, it will just make its use go underground.

Who even paid the $500,000 for butcoin to be "licensed"?

[gentlemand]

You can buy at the Polo XEM 3 million, and include supernode in the end you will receive 6 XEM for 1 block, given the potential growth of this coin, it is doubly advantageous for node profit, and profit from the fact that the price of the token increases

Did you attempt to read the posted sentence? It included not buying anything and also not buying anything on Poloniex. And someone who wants something for nothing probably doesn't have $20,000 to pay upfront to earn 6 XEM.

[TaunSew]

https://bitconnect.co/bitcoin-news/434/japan-creates-bitlicense-and-becomes-a-legal-currency/
https://blog.indiesquare.me/the-new-bitcoin-regulation-in-japan-worse-than-the-bitlicense-e669618d69e0#.h74uhjvok

Japan's new Bit License coming into effect in March and already dubbed "worse than New York's Bit License".  Need $500,000 and spend $Millions in Japan to be approved.  IOUs and Tokens like CounterParty and Augur are banned.  There will be an approved list of cryptocurrencies and no indication yet if NEM will be on that list or not.

Man, this is not a good move for crypto in Japan.  Really a roadblock for both bitcoin and alts and hard to see the long-term affects of this.

For example, what does Zaif have to do to become complaint just to operate as an exchange?

It would be nice if anyone from the NEM team could chime in on how this may affect NEM's operations in Japan.

I don't think people understand the gravity of this decision.  Bit License applies to everything, not just exchanges.  Someone like Takao Asyama could be on the hook for paying $500,000 for BitGirls, $500,000 for Mijin and $500,000 for Zaif and then another $4,000,000+ for compliance.   Though I'm thinking creative accounting can be done, by putting everything under Tech Bureau, to reduce it down to $500,000 but still.  

Question is can Japan's Blockchain Consortium (BCCC) even put together $500,000 to get a license too?  Who will be donating that money to keep it going?  Usually those kind of organizations crumble like an old cookiee when freeloader syndrome kicks in.   A bit more extreme but remember when R3 started holding their hand out for money and then people just starting leaving in droves.

I think Japan has to be careful.
But basically with the price that high, perhaps they are hoping to shut down all cryptocurrencies?
Will wait and see.
Would be a very hard thing to try and enforce, it will just make its use go underground.

Who even paid the $500,000 for butcoin to be "licensed"?

The Japanese lawyers and accountants know these things better than we foreigners ever could.  Maybe there's a loophole for people to get around the $500,000, especially if they are a non-profit or non-revenue entity.

I think the bigger concern is there's no information about who is on the official list and there will probably be some arbitrary decision making based on whale volume and not actual usage within Japan.  In terms of usage, XEM exceeds Ethereum and Litecoin in Japan and half the traffic to NEM.io is from Japan but the exchange volume doesn't really indicate that to whatever bureaucratic officer or committee makes up the list.


Not that they would ask for my input but:

1.  I can agree with tokens and IOUs being banned.  Almost all are vaporware scams or used as toys by whales.
2.  Clones shouldn't be permitted.  Litecoin, Doge and Ethereum classic are just redirecting volume from better projects and they're actually holding crypto from moving ahead.
3.  Darknet coins shouldn't be permitted due to criminality usage (and Monero falls under #2 due to being a copy of Bytecoin).
4.  Keep Ethereum off the list.  Probably will never happen, because they've had a few people networking with officials for awhile, but the Ethereum platform has been host to many tokens and IOUs (see #1), the DAO hack and other fraudulent schemes.  I don't think anyone actually uses Ethereum in a non-speculative fashion in Japan.

Not that they would ever make Bitcoin illegal but at some point they should consider charging a carbon tax on Bitcoin or the volume of Bitcoin, because Bitcoin network already uses more electricity than entire countries.  There's no rationale behind Bitcoin adoption when newer technology like XEM is very energy efficient, the most secure (see China CERT report), faster TPS and XEM should be promoted as much as possible.

[greentea]

You can see how Japan's volume in BTC is going bananas
https://coinmarketcap.com/exchanges/volume/24-hour/all/

Zaif and Bitflyer are at the top 2, both japanese exchanges.

Seems people are getting their positions how they want before the red tape gets lad down ...

[TaunSew]

You can see how Japan's volume in BTC is going bananas
https://coinmarketcap.com/exchanges/volume/24-hour/all/

Zaif and Bitflyer are at the top 2, both japanese exchanges.

Seems people are getting their positions how they want before the red tape gets lad down ...

If I am not mistaken, #1 Japan has overtaken China for some time (it wasn't just January) and #2 I think people may be racing to the exchanges to buy coins / sell coins before the licenses go through.

Actually I don't know when the license even goes in.  I usually think of March as spring but spring technically goes from March until May / June.

[visaco]

who said $ 500,000 ? nobody knows  exactly 
estimated  to cost around $300,000～$500,000 USD by experts . but nothing sure could  be cheaper

[nzminer]

who said $ 500,000 ? nobody knows  exactly  
estimated  to cost around $300,000～$500,000 USD by experts . but nothing sure could  be cheaper

yeah IKR, who even are these "experts" ?

[rockethead]

All this is a matter of conjecture. Forget about speculating all these scenarios and assume it is all well and good.

[SolarStorm]

a question guys/gals

I try to learn more about how programming in NEM works (on management level, i am not a programmer) but i have a few questions about it.

http://wiki.nem.io/index.php/NEM_APIs
is this page still valid ? can currently 'only' java be used for making apps with NEM ?

Suppose I want to make a messaging app, I understand that with sending the private key to another person he can decode a message.  But how/where is the message itself stored ? if this is in the blockchain itself, how is blockchain growth manged?

And would it be possible to store 'classic' database records in it with multiple cells (although of course, not changeable) ? If a change in a 'record' is made, can i store the change in a future block and somehow track the changes ?

Where ( apart form this forum would be the best place to find programmers who can work with this?

Thanx in advance !

[nzminer]

a question guys/gals

I try to learn more about how programming in NEM works (on management level, i am not a programmer) but i have a few questions about it.

http://wiki.nem.io/index.php/NEM_APIs
is this page still valid ? can currently 'only' java be used for making apps with NEM ?

Suppose I want to make a messaging app, I understand that with sending the private key to another person he can decode a message.  But how/where is the message itself stored ? if this is in the blockchain itself, how is blockchain growth manged?

And would it be possible to store 'classic' database records in it with multiple cells (although of course, not changeable) ? If a change in a 'record' is made, can i store the change in a future block and somehow track the changes ?

Where ( apart form this forum would be the best place to find programmers who can work with this?

Thanx in advance !

Yes, I believe this is still valid, however as I understand it anyway, there will be some completley new API's written in C++ when catapult is launched.

[rigel]

a question guys/gals

I try to learn more about how programming in NEM works (on management level, i am not a programmer) but i have a few questions about it.

http://wiki.nem.io/index.php/NEM_APIs
is this page still valid ? can currently 'only' java be used for making apps with NEM ?

Suppose I want to make a messaging app, I understand that with sending the private key to another person he can decode a message.  But how/where is the message itself stored ? if this is in the blockchain itself, how is blockchain growth manged?

And would it be possible to store 'classic' database records in it with multiple cells (although of course, not changeable) ? If a change in a 'record' is made, can i store the change in a future block and somehow track the changes ?

Where ( apart form this forum would be the best place to find programmers who can work with this?

Thanx in advance !

There are libraries in different languages to talk to NEM APIs

You can discuss technical details in our forum https://forum.nem.io/ or in telegram/slack chat

[greentea]

Luxtag
http://luxtag.io/solution/

Patent pending, will have to keep an eye on this one

[nzminer]

Toshiba to possibly file bankrupcy.
This is serious to the Japan Economy.
One reason why diversifying into crypto is a good idea.
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11801177

[fragout]

Luxtag
http://luxtag.io/solution/

Patent pending, will have to keep an eye on this one

I clicked on this thinking it was just another shit-coin and then i saw powered by Nem technology. Looks good.

[Jiddu]

Luxtag
http://luxtag.io/solution/

Patent pending, will have to keep an eye on this one

LuxTag powered by NEM

Very nice, this is getting more and more exciting

[4emily]

Luxtag
http://luxtag.io/solution/

Patent pending, will have to keep an eye on this one

Well spotted!

Tweeted

[jelin1984]

what exactly is
luxtag?