[NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread

[NOjust]

I thought the refundlist was already released over here https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdG5HUC1jZWp1SXJYcEVGZjRCU0FJYUE#gid=0

This was lots of work. Good job.

It' relly good!

still waiting  for the waiting list.
when will the result be open for us?

[1714846074]

1714846074

[1714846074]

1714846074

[1714846074]

1714846074

[ThePatient]

Im loooking forward to see what NEM goes for at auction (if the auction does happen)

[dave5555]

To UF:

I saw some of my clients on the refund list.

These are people I know in my personal life and I recommended investing in NEM for them.

I acted as a broker for them because they are not very knowledgeable about crypto or advanced in PC use.

They have already paid me fiat for their stake and were patiently waiting for me to update them on the status of the coin.

They are as follows:

nateM7654
annT78
camaronloco
mich38754
eylucu4531
michaelW8796i

I had already talked to you prior to this to make sure it was ok to act as broker for other people who are not very aware of these forums/crypto coin scene.

And yes I did create an account for each because that's how you stated I should go about investing for them.

Here is your original response:

Yes that should be the way because your friend represents the new account. So make a new account for him and reserve a stake from that account. You can send NXT from the same address as well (maximum 2 stake per address).

1 NEM share would have > 1 million NEM. So there are many to share. No need to buy a lot of stakes. Thanks for supporting NEM.

Thank you for clearing this up.  I will get to it as soon as possible.

For the greedy it might be good for a while, but they will always lose out in the end. That's my philosophy and experience.

[ALBORCA]

great job NEM team! 

[dzarmush]

Great job and great plan!

[oaks05]

7 stakes really? thats a little crazy if you want them to be part of nem give them some of your stake, dont try to claim a stake for each of them uncalled for.

[gwinevere]

Progress! Thanks for the NEM update.

[ALBORCA]

7 stakes really? thats a little crazy if you want them to be part of nem give them some of your stake, dont try to claim a stake for each of them uncalled for.

there will be more probably ..hold your horses

[Eadeqa]

Instead of giving stakes to people on waiting list, can we give them to the owners of popular exchanges?

cryptsy,
mintpall,
justcoin
bter
btc38
coinbase

etc etc

[xtester]

This update is not the development contract but it has important information on NEM stake allocation that would be in the development contract we will announce later. However since this update is not the development contract, the information here may be subject to modification or a completely disregard. So keep that in mind. A more formal development contract will be announced at a point very close to the Alpha release or even passing Alpha release and close to the Open Beta release.

The final stakeholder list is the result of merging two thread lists in the list for public auditing plus all addition/corrections and also removing all accounts in the refunding list. The refunding list is the result of a careful analysis with the contributions  of many members in the community. All accounts in refunding list were tagged by taint analysis and later subject to a closer inspection of activity, transaction timing etc. You can read more about the process in the NEM public auditing thread.

NEM final stakeholder list currently stands at 2740 accounts corresponding to 2740 stakes (1 stake=1 million NEM) being distributed at launch. This is our proposal to distribute another 260 stakes to make our community first round distribution staying at 3 billion NEM. 120 stakes are going to the waiting list for selected members at 0.1 BTC. 120 stakes are going to auction to raise fund for NEM development (with a part going to charity). 20 stakes are going back to accounts in refunding list that make a good case that they should be back in.

120 stakes for auction is a deviation from my first plan of going with all 1 account/ 1 stake for all community distribution. However, imo it is a good thing to bring an element of market price to valuing NEM at this point. It should be remembered that all the NEM fundraising up to this point is a "call for participation" and not a sale of NEM stakes. NEM stakes were distributed to all accounts for only a nominal fee or effort with a goal that they will be contributors to NEM. It is my hope that all NEM stakeholders could be a long term supporter of NEM and offer helps to NEM in setting up nodes, promoting NEM in some capacity etc. in exchange for 1 million of NEM being distributed at launch and that's reason for the low nominal cost that a stakeholder sent in.

So the plan so far is that in 4 billion NEM created, there will be 72% going to community distribution on the basis of 1 account / 1 stake at launch. 3% will be put on auction before NEM officially launchs. I will detail the distribution 25% remaining later on but we (the core development team) will keep the promise of taking the maximum of 10% of NEM for personal compensation to deliver the community a complete NEM V1 blockchain. The remaining would be distributed to other NEM helpers/ developers and also reserved for future development of NEM ecosystem as well as other features (details will follow).

More follow-ups will be coming. Thanks for supporting NEM.

NEM final stakeholder list https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdFRROFFGVUpwcFFXcHVCdGc0a3NuQVE#gid=1
NEM refunding list https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdG5HUC1jZWp1SXJYcEVGZjRCU0FJYUE&usp=drive_web#gid=0

Many thanks to you and the team for all the hard work put in everything.

We are making good progress.

[ashapasa]

good job UP, I have not been able to to see the thread for a few days due to work, but its good to see things are on shedule.

[j23a]

Awesome job. It seemed like yesterday we reached 200 pages, now we're probably going to hit 300 tomorrow.

If Nem becomes really big, I'm going to miss the whole waiting for news, and launch being so far away. The month long fundraising/call for participants, the public auditing, finally reaching the final stakeholder's list. So many are so anxious for the coin to be released, but if it becomes really big these days could become fond memories.

[patmast3r]

Awesome job. It seemed like yesterday we reached 200 pages, now we're probably going to hit 300 tomorrow.

If Nem becomes really big, I'm going to miss the whole waiting for news, and launch being so far away. The month long fundraising/call for participants, the public auditing, finally reaching the final stakeholder's list. So many are so anxious for the coin to be released, but if it becomes really big these days could become fond memories.

Wait until the sockpuppets wake up and see theit name on the refundlist. Those will be memories I'd rather not make in the first place

[johnV]

Thanks for all the work. +1

[ashapasa]

Awesome job. It seemed like yesterday we reached 200 pages, now we're probably going to hit 300 tomorrow.

If Nem becomes really big, I'm going to miss the whole waiting for news, and launch being so far away. The month long fundraising/call for participants, the public auditing, finally reaching the final stakeholder's list. So many are so anxious for the coin to be released, but if it becomes really big these days could become fond memories.

Wait until the sockpuppets wake up and see theit name on the refundlist. Those will be memories I'd rather not make in the first place

Lol there there, if its any consolation, we are right behind you but also glad you are ahead of us haha

[mikesbmw]

Am I reading this correct:

You are going to divide 3 billion coins amongst 3000 stakes? So 1 million per stake?

Wasn't the original plan to divide 4 billion coins, minus 10% for devs + etcetera, to 3000 stakes?

From the OP:
There is no specific number yet. Our current formula is number of NEM per stake spot = total of NEM issued/ (total account stakes + development stakes). At the moment we are aiming for roughly 3000 accounts plus 5-10% development stake, but it could be more, could be less depending on the fund raising.

It seems quite a big deviation from the OP to reserve 25% (10% for devs. + personal compensation) for future plans. Could you elaborate?

[awais3344]

Always kept an eye on this thread. Glad I invested my little btc into this.  This project seemed to be most legitimate thing after so many scams around here. Though I never bought into any scam ever. If this gets big. I will be taking a month off my mining and work 

[patmast3r]

Am I reading this correct:

You are going to divide 3 billion coins amongst 3000 stakes? So 1 million per stake?

Wasn't the original plan to divide 4 billion coins, minus 10% for devs + etcetera, to 3000 stakes?

From the OP:
There is no specific number yet. Our current formula is number of NEM per stake spot = total of NEM issued/ (total account stakes + development stakes). At the moment we are aiming for roughly 3000 accounts plus 5-10% development stake, but it could be more, could be less depending on the fund raising.

It seems quite a big deviation from the OP to reserve 25% (10% for devs. + personal compensation) for future plans. Could you elaborate?

UP correct me if I'm wrong but this is how I understand it:

 100% (duh!)
- 72% (stakes)
-  3% (auction)
- 10% (dev stakes)
------------------------------------------
= 15 % for future NEM development of the Ecosystem.

15 % is not a lot if you think about what this could enclose:

branding and other design stuff, exchange bounties, our own exchange, giveaways, faucets, bounties for people, setup nodes, domains, ...

It's to make sure that NEM has the ability to keep the ecosystem evolving and growing.

[mikesbmw]

15% is not a lot?  

Let's be very conservative and say NEM will reach 1000 sats per NEM.
600 million X 0.00001000 = 6,000 BTC

I would expect to see an unprecedented media storm for that amount! Take in to account that a 1000 sats is the very least one NEM would reach.

Then again, a lot of new coins / networks don't spend enough on marketing, that's even worse... Still 15% IS a lot of NEM.

[mladen00]

Instead of giving stakes to people on waiting list, can we give them to the owners of popular exchanges?

cryptsy,
mintpall,
justcoin
bter
btc38
coinbase

etc etc

great idea

maybe give 1/2 stake to 120 member on waiting list for 0.01BTC, 1 stake to 120 auction member, and for
exchanges owners give 2 or 3 stakes to 2-3 bigest exchanges sites.
Others will add for free

Now month or 2 from putting NEM in distribution, selling stake per 0.1 BTC is attack on marketvalue of NEM