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

[jkoil]

Call it for what it is:
We have been scammed.
Get rid of the foundation.
Reward the developers and hire a marketing team.
Foundation is just a black hole for $$$.

NEMSecretariatOffice: "...We saw very little accountability for funds and questionable ROI, leading to a burn rate of 9 million XEM per month."

Maybe true, maybe not.
It is true that honey entices bees and other insects.
Among of them exist, sometimes, individuals who are more concerned about their personal benefits than the community.
That has been seen in many big, international companies.

If the NEM Foundation has been on the wrong rails, it is quite quickly corrected - it is much easier than turning big ships.

[satb]

This is the post-V1fund which is one of many funds:

http://chain.nem.ninja/#/search/NDEVPOSK4OMR4PRTLYFHX4W5QTOND7TZDT2DTU4Q

There's enough XEM in there to last much much longer than a month, and it's not the only fund.  It appears that this is more of a liquidity issue than a lack of funds.

There's ~ 3 billion XEM spread out over the various funds. 

https://nemnodes.org/richlist/

[DenisZabar]

Dump already started  https://poloniex.com/exchange#btc_xem

Also https://www.coindesk.com/nem-foundation-layoffs-xem-crypto

[jkoil]

Dump already started  https://poloniex.com/exchange#btc_xem

Also https://www.coindesk.com/nem-foundation-layoffs-xem-crypto

Whales start the drop from "bad" news to buy from lower levels. An old trick


Edit: when looking the curve of the last year, the volume of today is not much.
... ofc it will grow, when the whales read this

[lemonandfriesonetwo]

Call it for what it is:
We have been scammed.
Get rid of the foundation.
Reward the developers and hire a marketing team.
Foundation is just a black hole for $$$.

NEMSecretariatOffice: "...We saw very little accountability for funds and questionable ROI, leading to a burn rate of 9 million XEM per month."

Maybe true, maybe not.
It is true that honey entices bees and other insects.
Among of them exist, sometimes, individuals who are more concerned about their personal benefits than the community.
That has been seen in many big, international companies.

If the NEM Foundation has been on the wrong rails, it is quite quickly corrected - it is much easier than turning big ships.

You do realize NEM was not meant to be a corporation with a CEO. It is a decentralized cryptocurrency, that's why the initial stake giveaway/sale.

I opposed the foundation when it started and thought it was a bad idea. And here we are now

The "foundation" hardly appears here to talk with the initial stake holders, they have ignored us and drowned our voices.

I say down with this "foundation" and fund development/marketing instead of enriching a couple of "sales managers"

Price of NEM would have been higher now, but the "foundation" decided to burn ~9 million NEM a month.

[kissubaby]

Coindesk's article was very misleading.

Do check out the response from NEM's foundation here: https://forum.nem.io/t/nem-foundation-update-a-response-to-questions-and-anticipated-questions/21776

One of the most important point to note is

the NEM Foundation operates as a separate entity and is one of many ecosystem contributors to the NEM open-source project. Therefore the NEM Foundation is not NEM. The NEM open source project remains strong and thriving and Catapult development is unaffected by the financial situation of the NEM Foundation.

No, the current Foundation is not bankrupt. We are running low on XEM and FIAT funds. The 2019 Foundation is currently preparing a plan to achieve funding for the rest of the fiscal year and the restructure was place as a cost-saving measure.

[-.xXx.-]

The NEM blockchain, which is behind the NEM (XEM) cryptocurrency, isn’t doing so well. According to a notice released by the NEM Foundation, a non-profit group formed to promote the blockchain, the foundation is short on cash and apparently could only survive for about one more month. In an effort to avoid having to file for bankruptcy, it will have to begin staff layoffs and is currently undergoing a significant restructuring.

https://forum.nem.io/t/nem-foundation-message-to-the-community/21753

SUGGEST RUN to OKcAsH or BitcoinSV they have the technological patents filed +1200 at this day

exemple: https://patentimages.storage.googleapis.com/92/ea/a4/24bf8330cdf7a3/WO2017187397A1.pdf?fbclid=IwAR1e4IPj87P1VZTxdEFHqeYLRCBbK11IZcn6BjlZFvMMyizeB71rmmzejy0

[expert20980]

XEM scam !!
this is confirmed informations about the XEM scam
In binance more then 1000BTC worth of XEM dumped and more then 100BTC dumped on polo
 XEM team start dumping the supply and scam peoples for millions of dollars exit from XEM shit before it fall more
XEM fall from 1400 satoshi to 1100 satoshi in less then 24 hours i think XEM will fall to 500 satoshi or less in the few next days
you can read more here
https://asktom.cf/index.php?topic=5104872.0

[icosscam]

XEM scam !!
this is confirmed informations about the XEM scam
In binance more then 1000BTC worth of XEM dumped and more then 100BTC dumped on polo
 XEM team start dumping the supply and scam peoples for millions of dollars exit from XEM shit before it fall more
XEM fall from 1400 satoshi to 1100 satoshi in less then 24 hours i think XEM will fall to 500 satoshi or less in the few next days
you can read more here
https://asktom.cf/index.php?topic=5104872.0

The one fact is clear; they are not SCAMMERS
I am sure, that we can go to 900-800 level, but I will say u a secret. Yesterday I bought a lot of XEM in 1149, today I add more in 1178.
As much people panic as much I earn, and a big whale does same.
One thing that could sink us all is if BTC will go straight to 1800. In that case, all should evacuate all ALTS

[fragout]

A fair take on the current situation from cryptolark
https://www.youtube.com/watch?v=ehAfHQoFLWg

[-.xXx.-]

The NEM blockchain, which is behind the NEM (XEM) cryptocurrency, isn’t doing so well. According to a notice released by the NEM Foundation, a non-profit group formed to promote the blockchain, the foundation is short on cash and apparently could only survive for about one more month. In an effort to avoid having to file for bankruptcy, it will have to begin staff layoffs and is currently undergoing a significant restructuring.

https://forum.nem.io/t/nem-foundation-message-to-the-community/21753

SUGGEST RUN to OKcAsH or BitcoinSV they have the technological patents filed +1200 at this day

exemple: https://patentimages.storage.googleapis.com/92/ea/a4/24bf8330cdf7a3/WO2017187397A1.pdf?fbclid=IwAR1e4IPj87P1VZTxdEFHqeYLRCBbK11IZcn6BjlZFvMMyizeB71rmmzejy0

Where is mentioned "1200 at this day" ?

I am not sure if that is an approved patent or just an application FOR a Patent.
When making search by the Applicant name here
http://patft.uspto.gov/netahtml/PTO/search-bool.html

it shows that NCHAIN HOLDINGS has only one patent.

Interesting is that some referred patents are about virtual currency and filed already in year 2000.

Indeed there are more than 1200 deposit requests for Bitcoin Satoshi Vision. It's on the thread wall of a Nchain leader Dr. Craig S Wright @ProfFaustus on Twitter his account is private but you can request an addition without problem if you are respectful the guy will not eject you.

Here are some other sources of Bitcoin SV patents https://patents.google.com/patent/WO2017145010A1/en

even if 1200 patents that already seem to be paid for are not all retained, it makes a lot of money for the protection of knowledge, I hope that it will not stifle Blockchain research too much and will make it possible to sort through the scamcoins where the Devs disappear and false ICOs.

Can you provide me with the source for patents (year 2000) you are talking about? Thank you in advance

[lemonandfriesonetwo]

The fact is WE GOT SCAMMED by an unknown actor who offered a solution to a non-existent problem.

This guy showed up out of the blue, offered a solution to the reclaimed stakes. Started this "foundation" when he convinced all the developers and initial stake holders to back him up and here we are now.

NEM is not a scam, the people who started the "foundation" are scammers and they clearly want to keep going with the scam.

Developers and stake holders should have thought about this more critically, instead they said "you take care of it, here's millions of NEM"  

Now we know that was a mistake.

Disband the foundation!

Reward developers who are active on NEM and hire a marketing team.

[tyz]

The fact is WE GOT SCAMMED by an unknown actor who offered a solution to a non-existent problem.

This guy showed up out of the blue, offered a solution to the reclaimed stakes. Started this "foundation" when he convinced all the developers and initial stake holders to back him up and here we are now.

NEM is not a scam, the people who started the "foundation" are scammers and they clearly want to keep going with the scam.

Developers and stake holders should have thought about this more critically, instead they said "you take care of it, here's millions of NEM"  

Now we know that was a mistake.

Disband the foundation!

Reward developers who are active on NEM and hire a marketing team.

It is true that the foundation is only a part of NEM and has little to do with actual development activities. But it devours a lot of money. Whether it has to be abolished right away can be questioned, as a higher-level contact point for interested people and businesses is useful. I hope that the new leadership cleans up and does a better job than the previous one.

[lemonandfriesonetwo]

It is true that the foundation is only a part of NEM and has little to do with actual development activities. But it devours a lot of money. Whether it has to be abolished right away can be questioned, as a higher-level contact point for interested people and businesses is useful. I hope that the new leadership cleans up and does a better job than the previous one.

What makes you think the new leadership is not the same one as before, with people known to them and just rebranded to something new?

A lot of times companies will declare bankruptcy just to emerge as a brand new company with new staff, also this bakruptcy protects them from being sued into oblivion.

Now where have I recently heard that a group of people are trying to declare bankruptcy on a decentralized cryptocurrency?

Just let this swim in thought for a while: A decentralized currency with a "foundation" group that has not shown any concrete results is trying to declare bankruptcy. When did NEM become a centralized corporation with a CEO?

[lemonandfriesonetwo]

NEM Foundation FUD - What is Happening?


https://www.youtube.com/watch?v=ehAfHQoFLWg&feature=youtu.be



https://forum.nem.io/t/nem-foundation-update-a-response-to-questions-and-anticipated-questions/21776

So repeating what was said for over 2 years except it's ok now because it is from "new people".

What happened this time will happen again and it's because "don't worry about it, give them millions of NEM and they will handle it for us"

How about using that voting system built into NEM that will allow it to become a true cryptocurrency for the people by the people, don't let this "foundation" aka board of directors fool you.

[tyz]

What makes you think the new leadership is not the same one as before, with people known to them and just rebranded to something new?

The new leadership has shown that they want to do things better. As a first step, they made an actual shot and the result was not great. This is a good start. I also trust Alex Tinsman more than the former president. Whether it really gets better, has to show in the future.

A lot of times companies will declare bankruptcy just to emerge as a brand new company with new staff, also this bakruptcy protects them from being sued into oblivion.

Now where have I recently heard that a group of people are trying to declare bankruptcy on a decentralized cryptocurrency?

The foundation is insolvent, not the project. 150 employees (I wonder what they all have done the last few years) are fired. The new leadership must now present a good plan for releasing the fund money. New activities definitely have to become more efficient and successful. I also like the approach that the foundation should take on its own finances, for example by offering business customer training.

[gentlemand]

The new leadership has shown that they want to do things better. As a first step, they made an actual shot and the result was not great. This is a good start. I also trust Alex Tinsman more than the former president. Whether it really gets better, has to show in the future.

Indeed. This is the first leadership that actually seems to give a shit and imparts actual information. They need the opportunity to make a difference.

I didn't care about the foundation at all until we discovered that the launch of public Catapult relied on their input, of which there'd been none. I cannae believe that situation was allowed to exist. There should've been a separate and dedicated group for that all along.

I don't care about the money thing. No regular people were being deprived of anything. I do care about all the time and opportunity that was totally squandered.

[tyz]

I don't care about the money thing. No regular people were being deprived of anything. I do care about all the time and opportunity that was totally squandered.

I agree to all of your points. NEM is a great project and it will be the last chance to make something big out of it. It's still the only project that uses proof-of-importance, which makes it unique. The foundation needs to reorganize and appoint a group to push the release for Catapult.

[greentea]

NEM was here long before the NEM Foundation, and will continue to be here even if the Foundation folds.

That being said, most news articles that came out are just irresponsible journalism.  How many times have we heard Bitcoin has died?
The Foundation is just restructuring, and there will be a vote for any new funding once the new proposal comes out.

To me this is good news.  I want to give Alex the benefit of the doubt and let her lead the new organization, and hope the community can get behind her. 
We voted for this change, and now people are freaking out they are actually changing something?

[maximumcoin]

Yeap, it's true, but the failure of NEM foundation will potentially have negative impacts on NEM in shor term.

NEM was here long before the NEM Foundation, and will continue to be here even if the Foundation folds.

For a long term future, NEM will survive and move forwards well.
Foundations comes and goes, NEM will always be here.

That being said, most news articles that came out are just irresponsible journalism.  How many times have we heard Bitcoin has died?
The Foundation is just restructuring, and there will be a vote for any new funding once the new proposal comes out.

To me this is good news.  I want to give Alex the benefit of the doubt and let her lead the new organization, and hope the community can get behind her. 
We voted for this change, and now people are freaking out they are actually changing something?