Could NEM be the next Bitcoin?

This is not investment advice, as the usual disclaimer goes. At the moment of writing this, I am invested in NEM/XEM, and here are some of the reasons I believe NEM can outperform bitcoin in the long run:

1 Blocktime/transaction time
Anyone that has ever used Bitcoin knows that it can be pretty slow. You are supposed to wait 10 minutes, but pretty often it can turn into 20 or 30 minutes. In a world of instant gratification, this is simply too slow. Especially in retail and commerce, transactions need to be seemingly instant. NEM transacts in 60 seconds or less most times. Don’t believe me? Look up the whitepapers. Don’t believe claims? Go send some bitcoin and then send some NEM and use a timer.

2 PoW v. PoI

I’ll try to keep this simple. In crypto world there are a few different terms around how miners/harvesters receive their compensation. Bitcoin uses a methodology called ‘Proof of Work’, this basically means that the more computing power you have, the higher are the chances you get the reward. What results is that the big mining guilds get richer and more powerful by the day, because they receive 20–30% of all coins, sell them to buy more gpu’s, making it impossible for normal peeps to have a chance. This in a way leads to a new kind of centralization of power, where 3–4 groups can control 80%+ of the worlds mining power. Scared of banks? 3-4 groups controlling the world’s computing power is what you should be more afraid of. On top comes that Proof of Work consumes a lot more electricity.

NEM on the other hand uses Proof of Importance, which a mixture of A. How much computing power do you have, plus B. How much XEM are you actively holding (and not dumping the second you get it), and C. How active are you in the NEM network (e.g. transfer money etc.) This way more normal peeps have a chance of receiving harvest rewards (Note: NEM calls them harvesters not miners)

3 Strong support despite lack of brand equity

If anyone is living off of hype it’s Bitcoin. Tradeable on all exchanges, countries, etc. and now the go-to symbol to exchange any altcoin, bitcoin is getting nearly as much attention as the Kardashians and people are investing more blindly into bitcoin then any other currency. This is not to say Bitcoin is a bad investment, however it is a fair assumption, that for a seemingly underrecognized coin like NEM to be the 5th largest marketcap says a lot. They were not doing any fancy marketing, nor have a celebrity team, but instead are one of the few coins with 100% original code (versus most coins being forks of BTC or ETH) and a really active dev team.

Hope this helps!

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BTC: 16gUFJjk2d1Jpvzs2qjPQgnCvGwPEGR1ZA

ETH: 0x3816f3AFe6e392ad6DF116E7ab4CeaA09BeF2656

NEM: NDXZYZXKA34S3Q7RHOLFPJQN4P3ZOJFGHOQN452U