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

[nemda]

Rap song about NEM: https://youtu.be/plFsuHAcBKU

[tolikkk]

Just a small idea. What if someone invest 8k usd. Will he be able to put on a node and if so what are the requirements for such ? Hardware and software ? How much will also be generated as income ?

No hardware needed, but 8k isn´t enough because you need 3mil nem.

https://blog.nem.io/supernodes/

With 8 k you can can collect harvesting fees even if you don't have a node (search for delegated harvesting).
Not a great income ATM

can not wait to wait, harvesting try this out in real time running on full power the platform, although
the need for 1 million customers anyway spurs advertising departments platform to work, otherwise, it is not clear why this is necessary, I don't think clearly look at the blockchain and to fulfill a separate function

[schnötzel]

With 8 k you can can collect harvesting fees even if you don't have a node (search for delegated harvesting).
Not a great income ATM

How much do you get in e.g 1month with delegated  harvesting?

[frankenzipfel]

Bitcoin, Ether and more: Top 10 crypto currencies of the world

http://t3n.de/news/bitcoin-ether-kryptowaehrung-802230/ (german only)

[schnötzel]

Bitcoin, Ether and more: Top 10 crypto currencies of the world

http://t3n.de/news/bitcoin-ether-kryptowaehrung-802230/ (german only)

Thanks. Nice summary

[greentea]

With 8 k you can can collect harvesting fees even if you don't have a node (search for delegated harvesting).
Not a great income ATM

How much do you get in e.g 1month with delegated  harvesting?

Really all depends on your balance and POI to the network. 

Also the more active the network (transactions) the more fees will be generated for harvesting.

[schnötzel]

With 8 k you can can collect harvesting fees even if you don't have a node (search for delegated harvesting).
Not a great income ATM

How much do you get in e.g 1month with delegated  harvesting?

Really all depends on your balance and POI to the network.  

Also the more active the network (transactions) the more fees will be generated for harvesting.

Let´s say with 100 000 NEM and current amount of transactions

[greentea]

With 8 k you can can collect harvesting fees even if you don't have a node (search for delegated harvesting).
Not a great income ATM

How much do you get in e.g 1month with delegated  harvesting?

Really all depends on your balance and POI to the network.  

Also the more active the network (transactions) the more fees will be generated for harvesting.

Let´s say with 100 000 NEM and current amount of transactions

Not much, a supernode account of mine with 3million XEM only earned about 491XEM in harvesting for the month of February.

But this could all change when public companies begin using NEM in day-to-day activities when lots of transactions flying around ...

[cryptonit]

this days 3 millions is the barrier to harvest + supernode reward a 5% yearly gain

this might change dramatic once the chain get high used

keep in mind its a zero inflation coin

XEM u earn someone else lose

actual supernode fund and from time to time tx fees create ur income

[franc0]

I wonder if one day they will lower the amount of XEM you need to run a supernode,3 million is super expensive now, i think for purposes of decentralization... they gotta do it.

[rigel]

I wonder if one day they will lower the amount of XEM you need to run a supernode,3 million is super expensive now, i think for purposes of decentralization... they gotta do it.

Has been discussed before. I don't think it will happen.

Increasing the number of supernodes would reduce profitability

[pinkman12345]

I wonder if one day they will lower the amount of XEM you need to run a supernode,3 million is super expensive now, i think for purposes of decentralization... they gotta do it.

Has been discussed before. I don't think it will happen.

Increasing the number of supernodes would reduce profitability

It will reduce profitability but will it not strengthen the network even more?

[nzminer]

I wonder if one day they will lower the amount of XEM you need to run a supernode,3 million is super expensive now, i think for purposes of decentralization... they gotta do it.

Has been discussed before. I don't think it will happen.

Increasing the number of supernodes would reduce profitability

It will reduce profitability but will it not strengthen the network even more?

Yes I expect so.

[cryptonit]

I wonder if one day they will lower the amount of XEM you need to run a supernode,3 million is super expensive now, i think for purposes of decentralization... they gotta do it.

Has been discussed before. I don't think it will happen.

Increasing the number of supernodes would reduce profitability

It will reduce profitability but will it not strengthen the network even more?

Yes I expect so.

400 test high performance nodes is way enough backbone
and thats only the supernodes add any normal nodes running on top

such a backbone size is only matched by a few coins
even bitcoin have only like 4-6000 active fullnodes
which if u consider marketcap to nodes
its 6000 node to 20 billion $ marketcap = per 0.1 billion marketcap 30 nodes

NEM have 0.1 billion $ marketcap and 400+ nodes

so yes we have a crazy strong node backbone and with raising marketcap and transaction volume we will beat bitcoin fullnode amount

[teletobi]

I wonder if one day they will lower the amount of XEM you need to run a supernode,3 million is super expensive now, i think for purposes of decentralization... they gotta do it.

Has been discussed before. I don't think it will happen.

Increasing the number of supernodes would reduce profitability

It will reduce profitability but will it not strengthen the network even more?

Yes I expect so.

The Network is quite good secured now with the running ~350 - 400 SNs. If the value of xem rises significantly, it implies the network is used more altogether, therefor there will be more transactions and more fees. With more transaction fees it will be possible to maintain a normal Node and earn enough on fees. That's the Target, SNs won't be needed then anymore.

[suky321]

With 8 k you can can collect harvesting fees even if you don't have a node (search for delegated harvesting).
Not a great income ATM

How much do you get in e.g 1month with delegated  harvesting?

Really all depends on your balance and POI to the network.  

Also the more active the network (transactions) the more fees will be generated for harvesting.

Let´s say with 100 000 NEM and current amount of transactions

From delegated harvesting for Feb - 543.99
For delegated harvesting for the first week of March - 221.26

It depends on the number of transactions on the network (the previous week has seen a lot of transactions) and the importance of your account to the NEM cloud.

Also if you run a supernode, you'd be earning between 400-500 XEM daily as a node reward payout.  

If there does come a time when XEM is at $1, that's almost $500 a day earned running a supernode, however, there is the temptation to sell all supernode XEM at that price to make $3,000,000 or alternatively continue to receive ~$500 a day.  

I predict that there will be some supernodes that would sell up, however, this would increase the daily reward share of 70,000 XEM.

Hypothetical example -  IF 400 of the 500 supernodes sell up, then the remaining supernodes would be earning $7,000 a day.   This would equate to $2,555,000 every year assuming the price stays the same.

[quasimodo]

Hypothetical example -  IF 400 of the 500 supernodes sell up, then the remaining supernodes would be earning $7,000 a day.   This would equate to $2,555,000 every year assuming the price stays the same.

If 400 supernodes sold, that would be  1.2 billion  XEM or nearly 15% of the total supply
The price would never stay at same price.

[suky321]

Hypothetical example -  IF 400 of the 500 supernodes sell up, then the remaining supernodes would be earning $7,000 a day.   This would equate to $2,555,000 every year assuming the price stays the same.

If 400 supernodes sold, that would be  1.2 billion  XEM or nearly 25% of the total supply
The price would never stay at same price.

Yes, good point.  That I didn't factor into my calculation. Thanks.

[fragout]

If the price of NEM ever does reach $1, of course supernodes will selling but it wont happen suddenly and people will sell in phases all the way up to that magic $1/Nem, Also the supernode fund is deep so rewards can increase as supernode numbers fall to tempt others to run one.

[operabit]

If the price of NEM ever does reach $1, of course supernodes will selling but it wont happen suddenly and people will sell in phases all the way up to that magic $1/Nem

I guess it's never going to happen next, and it sounds impossible.