I will admit to a bit of frustration as we watch non-functional vaporware platforms e.g., IOTA, NEO, skyrocket upward over the past week on non-news, while NEM/XEM languishes in neutral despite a steady stream of positive updates with substance. Now NEM seems destined to drift out of the top 10 marketcap, maybe even top 15 near term as heavily manipulated junk like HSR continue an inexplicable rise.
NEM has a three year jump on all the clown coins suddenly cropping up around it, and it shows, hell most of them struggle to even have a working, secure wallet for their user base. Come-from-Beyond, the great and mighty Dev behind NXT, who recently farted out IOTA with its Tangle? Tangle is an apt description for Come-from-Beyond's creation seeing how the Dev team of NEM, led by Jaguar0625 had this to say about his spaghetti coding skills back in January 2014...
https://bt.irlbtc.com/view/426303.msg4674869#msg4674869Jaguar0625
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
January 22, 2014, 11:23:27 PM
What makes NEM different from all the other NXT clones (like NEX) aside from the 4X more coins? Also, what is the timeframe for this project?
I think NXT can be overtaken by a clone because the NXT stakeholders have too much power and I think their greed could destroy the coin. So, I definitely support this NXT clone movement. The real question is which clone will be the best?
I'd rather take some of NXTs ideas and create a new coin from scratch because the NXT code is spaghetti. (And if we can get away from Java, the better Smiley).
My 2 cents.And with recent Catapult release the NEM team has fulfilled ever bit of the promise in Jaguar's final sentence.
Frustrating
You have to bare in mind that NEM has been through cycles like this before. Particularly in it's infancy.
I'm an original stakeholder. I've watched it all unfold. The crypto sphere is very much like stocks -- each coin basically representing a share in the company (ie, devs).
Most coins lack drive, fundamentals or even a solid, bug free wallet. Even those coins like Ethereum are riddled with holes, bugs, and required rollbacks or had forks, yet through bot trading and wealthy investors, it remains in a continual state of pump.
I often think long and hard about the state of the market, and within a few hours you can see at least 3 or 4 coins go through a pump or dump phase, where'as nem remains untouched.
Like stocks, you want the shares of that new company that has the fundamentals to see their goals through. And as long as NEM remains at a reasonably cheap price, it's always an opportunity to accumulate.
I do sometimes wonder, perhaps the whales are very much aware of this, and by keeping NEM out of the regular pump and dump cycles, the whales spend most of their time quietly accumulating.
Sooner or later, there will be a market cleanse, and the dump that is coming will wipe out a good chunk of the rubbish we see on the markets today. When the dust settles, only those coins with a solid drive will walk out that cloud.
Do not be enticed to try and participate and profit off of the whales games, cos i guarantee if enough NEM holders do sell their coins, you'll see the whales jump on board nem and leave you in the dust.
It's all one big game of musical chairs, don't participate though, remain seated, else you may lose your seat altogether. It appears as though the next big "pump" is now primed at NEO --- China, again, pulling their bullshit. Just as the Chinese Miners did with BCH. They're purpose is to profit in BTC/FIAT, nothing more, nothing less.
