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

[Zoella]

As well as how the fundraising portion doesn't have to be fair, because the genesis block creation will be?

GB shares = (number of interested posts) / 4billion

That was my assumption as well, but then he responded to one of my posts implying that this was NOT the case...

Disagree. As I explain here  "Yep, the fundraising has some incentives built in so probably not perfectly fair. But when we start the genesis block, every stakeholders have an exactly equal footing- the term "completely fair distribution" indicates the fairness at genesis block not at the fund raising. That's being said NEM fundraising is still much better than some other cryptos". NEM fundraising is very different model from any other crypto to date.

To be honest, the project is very well funded by an amount much bigger than the fundraising here;I have guaranteed that the fund raised here won't be touched until we launch the genesis block.

If GB relies on number of interested posts for fairness, doesn't that mean any "unfair" stake acquisitions will also be seen at GB creation?  Am i misreading this, or is there a step inbetween fundraising and GB creation that I missed?  He is clearly differentiating between the fundraising and the GB creation, but I don't see how they can be separated.

Also, what is this other funding stream and what is expected in return by those investors?

[SZZT]

so its 367 nxters who believe in the ecosystem, and this is lovely!

Now those 367 transfers are 367 shares + 456 transfers in the btc account = 823 stakeholders so far. Plus the first posts.

As well as how the fundraising portion doesn't have to be fair, because the genesis block creation will be?

GB shares = (number of interested posts) / 4billion

That was my assumption as well, but then he responded to one of my posts implying that this was NOT the case...

This is only my assumption, i know nothing, please dont take me seriously,
i should have used a sarc tag.

[Jaguar0625]

- I will also change the account numbers to be more bitcoin-like

Will you be using the proposed Reed-Solomon encoding ricot and NxtChg are working on for Nxt?

I'm thinking a different format would be better, so that NEM addresses can't (in general) be interpreted as NXT addresses by clients and vice-versa. There are simpler encoding schemes (linear codes) which can also do character typo detection and correction (but, unlike Reed-Solomon, not for character omission), and which don't require field algebra. They can be easily implemented from scratch without using 3rd party libraries.

I can expand on this if there's interest.

I wasn't planning on using Reed-Solomon encoding, but I'd be interested in hearing you expand on your suggestion.

[Sebastien256]

"   Counter sockpuppet measure: Sending address could be checked and if there were already two payments made to NEM's addresses before, then the third payment would be considered donation. This measure comes into effect at page 81 and does not apply retroactively. So DO NOT SEND the fee to NEM from an exchange, you would need to withdraw to your account first. Thanks for your understanding.  "

I believe that this is not really a counter sockpuppet measure. Why the third payment? from the second payment it should be considered donation. Unless I miss something....
Also, fee from exchange will still happen, from new user without experience which are exactly the new people we want to get in.

Bad idea, unless you can convince me otherwise.

[utopianfuture]

"   Counter sockpuppet measure: Sending address could be checked and if there were already two payments made to NEM's addresses before, then the third payment would be considered donation. This measure comes into effect at page 81 and does not apply retroactively. So DO NOT SEND the fee to NEM from an exchange, you would need to withdraw to your account first. Thanks for your understanding.  "

I believe that this is not really a counter sockpuppet measure. Why the third payment? from the second payment it should be considered donation. Unless I miss something....
Also, fee from exchange will still happen, from new user without experience which are exactly the new people we want to get in.

Bad idea, unless you can convince me otherwise.

They can buy one more stake for their loved one. 

[twistelaar]

"   Counter sockpuppet measure: Sending address could be checked and if there were already two payments made to NEM's addresses before, then the third payment would be considered donation. This measure comes into effect at page 81 and does not apply retroactively. So DO NOT SEND the fee to NEM from an exchange, you would need to withdraw to your account first. Thanks for your understanding.  "

I believe that this is not really a counter sockpuppet measure. Why the third payment? from the second payment it should be considered donation. Unless I miss something....
Also, fee from exchange will still happen, from new user without experience which are exactly the new people we want to get in.

Bad idea, unless you can convince me otherwise.

They can buy one more stake for their loved one. 

I have 1 share, so its possible that I can buy another 1 for my beloved one? 

[TauMuon]

Just a couple of questions:

• Is the amount of NEM a stakeholder will receive simply 4,000,000,000/No. of stakeholders?
• How will a stakeholder receive their portion of NEM when the genesis block is released?

Thanks!

[gramufibus]

3 things.

First I am not a sock puppet, contrary to what my no post history, and goofy handle would make some people think.  I am a cryptocoin newbie. NXT was my 1st crypto and I missed the late november boat by a week or two.  That is why I've only now joined the forum, with NEM being the catalyst.

Second,  is all this talk of duplicate accounts anything to really worry about?  I suppose this depends on when the IPO is considered closed.  I'd be happy if they keep the doors open up to the thousands.  I feel like more buy ins equals a higher net worth so if my share is less whatevs.
 I find it hard to imagine there are really many people with a really big stake.  I'm sure some OCD types might have done their best, but If some got 10X more than me I don't really care too much.  If there are several 100+ accounts... well I hope they get weeded out.

Third is for the Developers.  I know NXT has the built in bugs that are hidden to stop early duplicators.  Is the finding of these bugs over in NXT land part of the plan for  NEM development?

Anyway I'm glad to be aboard.  I'll hopefully be sharing some NEM graphics soon too.  That is my profession.  GOGOGOGO NEM!

[Tompa]

I am working hard on a media campaign for NEM through Twitter.

You can read/follow for updates here: http://www.twitter.com/nemcoin

Best,

A.

Great work so far! Thank you for your work!
Following! :-)

[spndr7]

Bitcoins and NXT of worth 5971 USD collected till now.

Bitcoins -> 3747 USD

NXT -> 2224 USD

As an investor, I hope the money collected would be spent judiciously to ensure NEM' s huge success.

[NEMcoin]

Do we have someone that could introduce NEM to Chinese forums? I'm working on Polish translation as we speak.

[xianyunguh]

0.03 BTC sent. HASH 1e6c3182df5c4b1784769aeffe64e4628f864229a9c5d04fbc1c63f8c741a68a . Thanks.

As an investor, I hope the money collected would be spent judiciously to ensure NEM' s huge success.

Other,Do we have someone that could introduce NEM to Chinese forums?

[xtester]

"   Counter sockpuppet measure: Sending address could be checked and if there were already two payments made to NEM's addresses before, then the third payment would be considered donation. This measure comes into effect at page 81 and does not apply retroactively. So DO NOT SEND the fee to NEM from an exchange, you would need to withdraw to your account first. Thanks for your understanding.  "

I believe that this is not really a counter sockpuppet measure. Why the third payment? from the second payment it should be considered donation. Unless I miss something....
Also, fee from exchange will still happen, from new user without experience which are exactly the new people we want to get in.

Bad idea, unless you can convince me otherwise.

They can buy one more stake for their loved one.  

Could you please clarify this @utopianfuture?

Am I allowed to buy a second stake for my wife directly from my account?
That would be great news, I would buy it right away.

[ashapasa]

Hi guys,

I am new member, just invested in a stake. I am from Bhutan and I just heard about the whole crypto movement a few months ago. I was intrigued by the whole idea and since then have invested in a litecoin mining rig as well as buying what BTC I could afford.  99.9 % of my countrymen are probably ignorant about Cryptocurrency, after my own conversion to crypto currency I have been fiercely proselytizing anyone who would listen.  Happy to say I have been reasonably successful in converting my friends and will keep trying.

How about reserving a stake each for a person from each country in the world to make NEM a truly international cryptocurrency. It will cost almost zero while truly expanding the overall spread of the currency. Imagine a Mongolian boy trying his hardest to convert his father to NEM or a Fijian girl spreading the word among her friends.

 

[ashapasa]

Rejecting new members to prevent people with more than two stakes is a big mistake. It will ruin all the goodwill this project is generating.

[swansong]

Bitcoins and NXT of worth 5971 USD collected till now.

Bitcoins -> 3747 USD

NXT -> 2224 USD

As an investor, I hope the money collected would be spent judiciously to ensure NEM' s huge success.

+1

[NEMcoin]

How about reserving a stake each for a person from each country in the world to make NEM a truly international cryptocurrency. It will cost almost zero while truly expanding the overall spread of the currency. Imagine a Mongolian boy trying his hardest to convert his father to NEM or a Fijian girl spreading the word among her friends.

 

I'm afraid that more than 20% people in the world doesn't even have electricity.

[Tompa]

"   Counter sockpuppet measure: Sending address could be checked and if there were already two payments made to NEM's addresses before, then the third payment would be considered donation. This measure comes into effect at page 81 and does not apply retroactively. So DO NOT SEND the fee to NEM from an exchange, you would need to withdraw to your account first. Thanks for your understanding.  "

I believe that this is not really a counter sockpuppet measure. Why the third payment? from the second payment it should be considered donation. Unless I miss something....
Also, fee from exchange will still happen, from new user without experience which are exactly the new people we want to get in.

Bad idea, unless you can convince me otherwise.

They can buy one more stake for their loved one.  

Could you please clarify this @utopianfuture?

Am I allowed to buy a second stake for my wife directly from my account?
That would be great news, I would buy it right away.

Yes! That would be great! Please clarify about it. I would love to earn another stake for my young son by translating to Croatian whatever is required. Please give us instructions how will that buying another stake work.
Should we create another BCT.org account for that stake? or do you have some other idea?

[utopianfuture]

"   Counter sockpuppet measure: Sending address could be checked and if there were already two payments made to NEM's addresses before, then the third payment would be considered donation. This measure comes into effect at page 81 and does not apply retroactively. So DO NOT SEND the fee to NEM from an exchange, you would need to withdraw to your account first. Thanks for your understanding.  "

I believe that this is not really a counter sockpuppet measure. Why the third payment? from the second payment it should be considered donation. Unless I miss something....
Also, fee from exchange will still happen, from new user without experience which are exactly the new people we want to get in.

Bad idea, unless you can convince me otherwise.

They can buy one more stake for their loved one.  

Could you please clarify this @utopianfuture?

Am I allowed to buy a second stake for my wife directly from my account?
That would be great news, I would buy it right away.

Yes! That would be great! Please clarify about it. I would love to earn another stake for my young son by translating to Croatian whatever is required. Please give us instructions how will that buying another stake work.
Should we create another BCT.org account for that stake? or do you have some other idea?

Hi NEM is intended to appeal to a board range of people from many aspects of life on the basis of crypto equality and comradeship. As I said before, I don't see why one person having two stakes is a problem especially if one is buying one share as a gift for your loved one. The developers/ helpers of this project will certainly have multiple shares as  well. We are good as long as we keep our idea of fairness and the egalitarian principle.

You could create another account, and better yet an account under your son's name and say so when you reserves a stake spot.

Update: I am updating the list; since it goes up faster than I expect, the next update will probably up to page 84 or 85. Thanks.

[utopianfuture]

Hi guys,

I am new member, just invested in a stake. I am from Bhutan and I just heard about the whole crypto movement a few months ago. I was intrigued by the whole idea and since then have invested in a litecoin mining rig as well as buying what BTC I could afford.  99.9 % of my countrymen are probably ignorant about Cryptocurrency, after my own conversion to crypto currency I have been fiercely proselytizing anyone who would listen.  Happy to say I have been reasonably successful in converting my friends and will keep trying.

How about reserving a stake each for a person from each country in the world to make NEM a truly international cryptocurrency. It will cost almost zero while truly expanding the overall spread of the currency. Imagine a Mongolian boy trying his hardest to convert his father to NEM or a Fijian girl spreading the word among her friends.

 

I like that. How about we create a global map to see how far NEM can spread ?