Reddit Posts
Join the Nym team for an AMA on 20th September at 1pm UTC & enter a $1,000 in $NYM Giveaway
Join Nym’s CEO and COO for an AMA on 28th June at 12pm CET & enter a $2,000 in NYM Giveaway
MoneroKon 2023 is next week! AMA Session with the MoneroKon Orga Team
OKX announced that in order to prevent market risks, it will regularly delist contracts with poor liquidity. This time, BTT, SC, WNXM, SOS, ASTR, and NYM perpetual contracts will be delisted. BTT is the storage project Token on Justin Sun's TRON chain.
Tornado Cash and WHY privacy chains are important!?!
Looking for competitors for a decentralized cloud solution
Mentions
Some token unlocks to look forward this week: - Oct 3 $SUI unlocks ($17.24m/4.02%) - Oct 3 $DYDX unlocks ($4.36m/1.23%) - Oct 6 $NYM unlocks ($1.41m/2.26%) - Oct 6 $IMX unlocks ($11.06m/1.55%) - Oct 7 $HFT unlocks ($1.13m/1.84%) Stay safe if you hold any of these guys 🫡
Did the people who asked the good questions in the recent NYM AMA receive their token reward? If you are among the lucky ones, what are you doing with them NYMs? Sell or hodl?
How does the NYM Network distinguish itself from other networks like $XMR etc. particularly in terms of safety, given the increasing number of attacks in the blockchain space? Also, could you please explain the tokenomics?
>Is the NYM token itself a privacy coin, or is it a standard PoS token that is used to secure a blockchain that underlies various privacy services? Like, if I transact NYM, are my transactions automatically private like Monero? If I transact NYM while also running NymConnect, does that make my transactions private from the perspective of the blockchain, or only private from the perspective of my ISP? \- NYM is not a privacy coin, no. It is a utility token for a general purpose privacy system that protects any internet traffic in transit. \- NYM transactions are currently primarily for staking and bonding Nym nodes and are not private. \- NYM tokens will however be redeemable for zk-nym credentials when used for paying for NymConnect/ NymVPN. This will be private - using the anonymous offline ecash scheme developed by Alfredo and Ania: [https://arxiv.org/abs/2303.08221](https://arxiv.org/abs/2303.08221) \- If you transact NYM tokens while running NymConnect this does not make those transactions private as the Nyx blockchain smart contracts are public. So if you run NYM transactions via NymConnect, these could protect it in transit from the ISP yes, but not once it hits the chain. \- In short: NYM tokens are not privacy coins for general purpose payments. They are utility tokens for the mixnet reward and reputation system, which is public (see: [https://blog.nymtech.net/privacy-for-end-users-transparency-for-the-infrastructure-c1770cdc6c61](https://blog.nymtech.net/privacy-for-end-users-transparency-for-the-infrastructure-c1770cdc6c61) ). For private transactions, use Monero or zcash over the Nym mixnet, stay tuned for broader adoption of zk-nyms for payments or just use good ol' cash! :)
There is a fixed supply of 1Bn NYM tokens, of which 553,99287 NYM are currently in circulation. The remaining tokens are on a vesting schedule and in a mixmining pool to bootstrap operator rewards until the NymVPN brings in user fees. You can see the total, circulating, vesting and mixmining supplies here: [https://validator.nymtech.net/api/v1/circulating-supply](https://validator.nymtech.net/api/v1/circulating-supply) And if you want to read up a bit more, I recommend these blogposts: [https://blog.nymtech.net/nym-tokens-where-do-they-live-and-how-are-they-distributed-cross-chain-8d134bf9c41f](https://blog.nymtech.net/nym-tokens-where-do-they-live-and-how-are-they-distributed-cross-chain-8d134bf9c41f) [https://blog.nymtech.net/how-to-stake-in-the-nym-mixnet-15a28d687e56](https://blog.nymtech.net/how-to-stake-in-the-nym-mixnet-15a28d687e56) and the reward sharing for mixnets paper: [https://cryptoeconomicsystems.pubpub.org/pub/diaz-reward-sharing-mixnets/release/2](https://cryptoeconomicsystems.pubpub.org/pub/diaz-reward-sharing-mixnets/release/2)
Yes indeed - a major milestone on the Nym roadmap is the NymVPN launch. We have seen huge growth in the VPN market over the past few years and a VPN this is the most obvious use case for end users. What this looks like in terms of token economics: the VPN will be paid for via NYM tokens. Using zk-nyms credentials, people will be able to spend their NYM tokens as payment for the VPN service without compromising their privacy. This also means that the usability of the NYM token will grow as the demand for VPN grows. There are a number of other steps we are taking to get to a market ready VPN product - some of which are outlined in this blogpost: [https://blog.nymtech.net/what-does-it-take-to-build-the-worlds-most-powerful-vpn-d351a76ec4e6](https://blog.nymtech.net/what-does-it-take-to-build-the-worlds-most-powerful-vpn-d351a76ec4e6)
Lol people that give AMA (some NYM team) on here (pinned thread) seriously present themselves as a project that aims to protect online privacy, and then in next sentence they say that to receive some small reward for asking a question you need to KYC and give them basically all of your data. One of the most ridiculous things I've read on here in a while.
Does the NYM network add timing obfuscation or cover traffic in order to remove linkability for all the packets?
The main benefit of Reddit is having anonymity, or not having your Reddit account mapped to your real name. I’ve got ~$100K in Moons next to my name and wouldn’t want to be identified. For the giveaway, why are you asking for personal email and KYC mapped to your Reddit username? Can’t you just request Reddit name mapped to NYM wallet? Seems a little tone deaf for a privacy related project.
Are there any existing mechanisms such as burning of NYM tokens that would balance out the inflationary nature of the Proof of Stake model?
I have a few questions. Answer whichever ones you like. 1. Is the advantage of using Nym for browsing privacy over a VPN that with a VPN I must trust the VPN itself to not hand over my data, whereas Nym is trustless in that there exists no entity that would know my browsing data? If so, what is the advantage of Nym over Tor? 2. What is "privacy-preserving KYC"? Is this not an oxymoron? If some entity requires KYC from me, how can they "know their customer" while my privacy is also preserved? I'm not sure I understand how they could be satisfied that they know me while I could be satisfied that they don't. 3. Is the NYM token itself a privacy coin, or is it a standard PoS token that is used to secure a blockchain that underlies various privacy services? Like, if I transact NYM, are my transactions automatically private like Monero? If I transact NYM while also running NymConnect, does that make my transactions private from the perspective of the blockchain, or only private from the perspective of my ISP? Thanks!
As NYM is one of the leading projects in privacy and web3. What makes it different from others and how can it help this industry?
Our latest AMA is by Nym! It is now up and the Nym team will be answering questions live for 2 hours on 20th September, starting at 1 pm UTC. The Nym team has burned 400 moons to host this AMA. As a token of appreciation for your participation, they are giving away $1,000 in NYM tokens to the 25 best questions! Go here to start posting questions: https://reddit.com/r/CryptoCurrency/s/tmeAhBw1D8
Manta burned 8k Moons but it included a 5 day banner rental which NYM did not get.
What does NYM does better than monero? Or instead of being competitors, they are filling differents purposes?
I would be happier if top questions got moons instead of NYM
How does NYM strike a balance between providing privacy and staying legally compliant? For most governments, these two things seem to be mutually exclusive. So, how does NYM provide this service without breaking the law or aiding anyone to break the law?
Best 25 questions share $1000 worth of $NYM. AMA is here: https://www.reddit.com/r/CryptoCurrency/comments/16luxln/join\_the\_nym\_team\_for\_an\_ama\_on\_20th\_september\_at/
Our latest AMA is by Nym! It is now up and the Nym team will be answering questions live for 2 hours on 20th September, starting at 1 pm UTC. The Nym team has burned 400 moons to host this AMA. As a token of appreciation for your participation, they are giving away $1,000 in NYM tokens to the 25 best questions! Go here to start posting questions: https://reddit.com/r/CryptoCurrency/s/tmeAhBw1D8
Why do you need to give away NYM tokens to get people to ask you questions? Your project is so good, it should sell itself!
Indeed, shout out to every project in the space pushing privacy tech forward, our world is at a cross roads where those in power are systematically destroying our ability to maintain privacy by making it a "bad word" This is a battle worth fighting, and every team working on it is needed. SHD SCRT XMR NYM and every other team pushing the space forward.
1. this is with ZKnyms. These are credentials that you will purchase with NYM tokens. These credentials can be randomized local to make them unlinkable between the blockchain and the mixnet. You can then present the credential to the gateway that will grant you access to the mixnet for a certain amount of volume of data. 2. our first use cases are messaging app, or wallets, so that the app (wallet) can communicate with the server (node) without revealing that both of the are communicating to each other. This is key for you financial freedom. to build we have an SDK both in typescript [https://nymtech.net/docs/sdk/typescript.html](https://nymtech.net/docs/sdk/typescript.html) and in Rust that is available. The website [https://pastenym.ch/#/gT9OPVhH](https://pastenym.ch/#/gT9OPVhH) was built with it. 3. This is where the token plays a big role. It provides a measure of reputation based on the performance and availability of the node. Token holders will delegate to performing node, that will provide back the best incentive. If the network is congested, then the system will allow ADDING nodes. And vice versa. 4. To issue the credentials we will have a DKG (Distributed Key Generation) done by the validators. This will allows a distributed way of generating zknyms 5. there is a performance tradeoff. Nym will be slower than normal traffic. However we know there is a lot space for improvement. Also you might not use the mixnet for all your traffic. Streaming netflix might not need a mixnet :)
Hope you are satisfied with all the answers, and don't forget you can get up to 150 USD of NYM by joining Bybit and voting for NYM: https://blog.nymtech.net/attention-airdrop-campaign-200-000-in-nym-token-prize-pool-for-bybit-votes-36acb376cd99
Nym's community is focussed on making sure more and more people can get their hands on NYM. For example's there up to 150 USD of NYM airdrops here: [https://blog.nymtech.net/attention-airdrop-campaign-200-000-in-nym-token-prize-pool-for-bybit-votes-36acb376cd99](https://blog.nymtech.net/attention-airdrop-campaign-200-000-in-nym-token-prize-pool-for-bybit-votes-36acb376cd99) We have hired the CMO of Protonmail and are planning on launching a user-friendly VPN-like interface, and we plan to see it work! We are the ONLY project that defends against global passive surveillance by an adversary as powerful as the NSA or government. No zk solution can provide privacy without integrating with us, which ZCash, Secret and others already understand and Monero already works with Nym!
1. Nym was inspired by the original vision of the cypherpunks that created Bitcoin - who also wanted to create a mixnet. We delivered the mixnet. NYM goes from the term 'anoNYMoous' 2. The coin is used as a reputation token that mix nodes receive for mixing (anonymizing) traffic. Also, payment for mixnet is done in NYM, which does a buy order on market. 3. We have about 50 people on the team and including engineers from ex-Facebook and Google, scientists from MIT/UCL/KU Leuven, and marketing team from Protonmail. You don't honestly get much better, just check out the team using a search engine (like DuckDuckGo!) 4. Nym is smart contract based and decentralized. The token economics paper explains the details, but tl;dr it's a CosmWasm smart contract: [https://nymtech.net/nym-cryptoecon-paper.pdf](https://nymtech.net/nym-cryptoecon-paper.pdf) 5. It's deflationary. There is no more printing of NYM, and its all automated in smart contract mentioned above. 6. No one else provides privacy against even nation-state level adversraies. 7. You can earn by these community events like the AMA 8. For the ambassador programme here: [https://blog.nymtech.net/welcome-to-nymja-ambassador-program-e31046671ca9](https://blog.nymtech.net/welcome-to-nymja-ambassador-program-e31046671ca9) 9. The roadmap is plugged to our Twitter ([https://www.twitter.com/nymproject](https://www.twitter.com/nymproject)) - we're still working on de-permissioning Nyx, then the decentralized VPN by end of year!
We have an Android test version already. You can get the apk here: [https://github.com/nymtech/nym/releases](https://github.com/nymtech/nym/releases) but be careful, it uses a LOT of data and some battery. I works amazingly well with Telegram on the phone ! It is better because if you are using NYM, the pattern of communication does not allow your phone operator (or anyone observing your phone at network level) to understand you are communication to telegram (in the case of telegram).
the ERC20 is a bridge version of the Native cosmos NYM token. you can read here on how to use the bridge: [https://blog.nymtech.net/transfering-nym-erc20-to-nym-cosmos-for-bonding-or-delegating-in-nym-mainnet-introducing-gravity-821e417cb0ab](https://blog.nymtech.net/transfering-nym-erc20-to-nym-cosmos-for-bonding-or-delegating-in-nym-mainnet-introducing-gravity-821e417cb0ab) the token has a fixed supply of 1 B. With a mixmining reserve of 250M token to subsidise the network at the beginning. The value of the token will capture how much people are willing to pay for an anonymous communication. more on the tokenecon here: https://nymtech.net/token/
1. We have to exclude Americans (and other sanctioned countries), and sadly KYC is the only way to do it for now given the huge regulatory catastrophe in the US. Remember without zk-nyms that the NYM token is transparent. 2. The NYM token is a utility/reputation token for the Nym network. I mean, you could use NYM as a means of payment, but it's highly volatile, so I would encourage something a bit more stable like Bitcoin and stablecoins. We at Nym are a privacy project, and we want to work with other chains to build the next generation of finance, not compete with them. And we an provide privacy on network level to stabelcoins, Bitcoin, ZCash, and anything really!
Most of the questions people ask in the AMA section are about the strengths of the your project. On the contrary I am interested in difficulties and challenges. So what difficulties did the team face while developing the NYM MainNet and how did they overcome them? Thanks
Coconut credential are now called zk-nyms, because they allow us to do shielded zk-identity. They work on Nym's Nyx blockchain today, and their first use-case will be paying for the VPN - without doxxing yourself! Note the NYM token is transparent by default
What has been the most exciting part of the development of NYM?
1. Can you explain how the integration of Nym's core technology stack with Side Protocol's mesh liquidity network enhances cross-chain interoperability? 2. Can you elaborate on how the Nym mixnet, built on Nym's Cosmos-native layer-1 blockchain (Nyx), will establish a connection between Nym's NYM token and Side Protocol's liquidity network? 3. Can you explain how Nym's mixnet technology can be used to safeguard the security of swaps and enhance the overall integrity of the system? 4. The concept of privacy in the digital age is evolving rapidly. How does Nym anticipate and adapt to emerging privacy threats and challenges, and what measures does it take to stay at the forefront of privacy technology? 5. As Nym expands its ecosystem, how does it ensure that its technology remains user-friendly and accessible to individuals with varying technical expertise? Are there plans to develop user-friendly interfaces or tools to facilitate broader adoption? 6. What are the plans and roadmap for Nym in terms of further development, adoption, and expansion within the privacy infrastructure space? 7. what are Nym's long-term goals and vision for the future of privacy infrastructure? Are there any emerging technologies or trends that Nym is closely monitoring or actively exploring to enhance its offerings?
What specific problems can the #NYM project solve that existing solutions cannot?
Is it possible to integrate NYM Connect into Android and if yes, do you plan to work on this in the coming months? (I'd love to try NYM Connect with Telegram app on Android, similar to what is already available on Linux).
How will you handle government agencies when they request/require NYM to submit data?
What are the characteristics of NYM connect? I learned that NYM Mixnet is better than VPN & TOR can you tell us how and when it will be available to use for other applications ? Is there a Android version of NYM connect planned for future?
Just one question (without KYC and NYM awards, obviously). ​ Are the moons for this specific AMA burned?
Can you share some more info about Nym mixnet? I have seen you guys at the last two Monero conferences, but I am still not really sure how Nym "increases the privacy of Monero transactions". Is the NYM token required to use this supposed privacy enhancing feature?
Coin gecko was also giving away NYM but due to KYC requirement I didn't join that airdrop because I am not comfortable giving away my KYC just for an airdrop. Can you share the tokenomics of NYM? I can't find much info on that.
1. could you share same info of what Nym is all about and what you've developed so far? What inspired Nym's creation? 2. What is the purpose of $NYM coin? What are Nym aims? 3. A Hard working spirit team is very important in project success. How big of a team do you have and are they well a experienced team? 4. How does Nym works? Is Nym centralized or a smart contract based? 5. Is $NYM coin deflationary or inflationary? How will you burn $NYM manual or automatic? 6. What tools that Nym have that are Unique to other infrastructure? or what's make Nym unique? 7. How can we earn these $NYM token other than buying it? 8. I want to support your project. Tell us more about ambassador program and in what ways can we participate ? 9. What does future hold for Nym? Do you have roadmap you can share with us? do you have any updates you'd like to give us now?
Oasis Network and NYM look solid too
For those who haven't seen, there are 3 current polls out for potential upcoming CCE's (CryptoCurrency Events) * [Monerotopia poll](https://www.reddit.com/r/CryptoCurrency/comments/12sya3i/event_poll_monerotopia_ama/) * [Litte Shapes NFT poll](https://www.reddit.com/r/CryptoCurrency/comments/12t7hj4/event_poll_little_shapes_nft/) * [NYM poll](https://www.reddit.com/r/CryptoCurrency/comments/12u07m8/event_poll_nym/)
They have yet to relaunch it. In October whitehats helped them fix a vulnerability which they then kicked exploitable validators INTEL SGX hardware and rotated the keys as a precaution. [SCRT 2.0](https://scrt.network/blog/secret-2-0-building-the-next-generation-of-web3-privacy/) will be a new wild FHE token using multiple forms to hardening. Their vision is badass because it will still leave SCRT as the hub to be used as a PAAS (privacy as a service like obscuring Dex transactions to prevent Front Running). They aim build a privacy alliance with chains like NYM etc. I imagine the final vision being an ecosystem like the COSMOS but for privacy tokens with SCRT being the hub. I have full faith in the entire dev team from Assaf Morami to Guy Zyskind in the 2.0 vision. I genuinely believe that, I'm not a SCRT Agent or w/e their incentivized social team is called.
Bitcoin Army ! Bitcoin Only : « BABO ! » Not your key not your monnaie : « NYK NYM » 😎
NYM - Layer-0 for Interoperable Privacy
Ye np bro love talking to people who like to digest information since I am like that myself x))) >That's what I do as well, the hard part for me is figuring out which time candle to use. I look at 1m and 5m mostly and when I see we've been going up in steps in those time candles - so I suppose that's essentially looking higher time frame candles too. True. The thing is higher time frames are just reflection of smaller time frames, you should view smaller time frames for signals of reversal but you should follow big time frame candles to determine up or down trends based on those changes in smaller time frame candles. Its like setting a bet against your own prediction, I used to watch the market for years without ever making a purchase just viewing and observing. Also the phasing is important, if the coin has 2-3 week chart green candles you can bet your ass the red candle is coming, I have never seen a coin I think with more then 4 weekly monthly green candles. Timing is also important, thats how i am able to predict some of these down turns, if the weekly candle looks like it will end up in green you must watch the minute candles during the week/month closing because usually the chart will invert somewhere along the top, making the candle that will start the next time frame go down and start the red downtrend phase. Around new years was dead obvious this was the case, all coins almost finished in green candle i think october or november so I was sure it will start dipping into red candles next month since the green ones were far too overstretched for the current month. >If you are winning in this game over a long period of time, I want to listen to what you have to say! Agreed. Same thinking here, but then it also depends what you consider winning. I had 44 ETH at some point in 2017, some would say holding onto it would be winning. And true, I would made MAD money if I had holded till 4k. But thats a big IF. And its a big IF if I would sell it there or wait for the 5k or 10k mark if I had hold mentality. I dont really care tho, I cash out periodically and every cash out is a win for me since its free money, I used a lot of it to improve my current life and get a new roof and bunch of equipement to do what I wanna do in real life so yea, if I just holded I would have no way to afford that UNTIL i cash out. Plus I dont like the idea of being a millionaire anyway, seems like a hassle to have so much and have to worry about it, plus everyone will want to get some and I dont wanna feed the regular financial system because if you make millions you will probably end up buying a house and a car and all that "crypto millionaire when lambo? " shit. Cashing out and buying into regular financial structure is just feeding the capitalist beast, and I wanna starve it as much as I can because thats the only way we get a new system since this one is fundamentaly broken and we need to break it by not participating in it as much as possible. >My first order at 45.15 hit for LTC. I'm only trading LTC right now as I think it's a diamond in the rough, for the next bull run. Yes LTC is like that stable horse you can always bet on. The problem is his gain aint insane - because no one uses it to hoard but to actually transact. Same like XMR. Its unbreakable because people will always use it. I will buy it for transaction no matter what price it is because its everything a currency is supposed to be. It will have its time to shine for sure. Also yea I heard about its privacy update :D i support that shit and when I saw it was being delisted because of it I was jumping from joy :D fuck the system!!! The only thing is it is still pseudo anynomous to my understanding, or is it full privacy? Can you watch the adress you were sent funds from on the blockchain ledger still? The coins I listed go little above just serving as privacy chain, as they have a lot of other cool projects built on them. DERO is a fully functional privacy chain with smart contract making it like ETH XMR which enables building of privacy apps for all type of usages. Still waiting for some to be made but their fundamentals are insane and you can also send encrypted messages with your transactions which are also lightning speed even faster then LTC. OXEN is also a promising chain with their messanger Sessions and their Lokinet internet traffic "spoofer". [https://lokinet.org/](https://lokinet.org/) Download this and put exit.loki as your exit node and all your internet traffic will be rerouted through onion network thus making you invisible while online. Im all in on privacy so any chain update for privacy is good but I like these projects as they offer some nice products that work regardless of the currency. Also GHOST was initiated by John Mcaffe, and they will try to make a privacy GHOST DAI like stable coin so that will be interesting if it emerges since no stable coin I know offers that privacy transaction layer :S Especially with rise of the censorship and centralization, its important to have these privacy features. Also forgot to add NYM project on that list of coins, really big one as well in future I think. All in all a lot of nice things out there just gotta dig deep, gonna purchase more of these coins after they fall some more cuz I think they will, got some in the bag but nothing much atm still in some small profit but will see how it develops :) good luck bro!