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

[cryptoknightt]

To be honest,it is really not a very good distribution.
1/2740=0.00036 and  ~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. ~

10%? really?
Are you kidding me?I'm really disappointed and I will not buy any nem coins in the future.

10% for developers is a fair share. They worked hard and organised such a massive project and distribution. They deserve to be rewarded.

Yes, they wanted to get rich so organised this project. But they also create some money/btc for us for just trolling

10% =400 shake/5 or 6 =60-80 shake/person
fair?
We have only 1 shake but His cake is 60-80 times as big as mine.
Does that seem fair to you?

WTF

I made a promise to myself that I will act nice when it comes to things regarding NEM because I want to respect the movement. I'm going to say this as nice as possible.

You are not seeing the big picture here. You are very short-sighted. Missing the point in a very very idiotic way. Open your eyes and take the lint out of your ears.

60 times more for the CREATORS than the guy who just CAME to what these guys CREATED!!

That for one is the best deal I have seen. Look around, but follow my advice above first.

SMH

[Tobo]

i think there is already 120 stacks will be allocated to ppl on waiting list.
and the other 120 will for bidding.

How many names are on the waiting list? Can everyone get a share?

[j23a]

In regards to NEM, I always thought that I wouldn't mind if one person had 10% of the total coins, if and only if that person wasn't greedy, and main focus was to combat greedy whales whose sole goal is to pump and dump over and over again until they took as many Bitcoins from other people as possible.

[jabo38]

Satoshi owns more than 10% of bitcoin by himself.
I don't know if it's true but I heard Charles Lee owns 27% of Litecoin.
The top two Litecoin wallets each have 10% of Litecoin in them.
JR once owned or still owns more than half of Mastercoin.
NXT was divided by 73 people, some getting way more than others.
Ripple labs owns half of the Ripple from premine.
And these aren't the pump and dumps.

NEM's distribution will be amazing! The "core" development team has 8 people but that is just the core. Some of the seriously hard working developers might end up with 1% but considering their effort and considering the norm in cryptocurrencies, this will by far be the most egalitarian distribution BY FAR!!! NEM is already trying to do something that hasn't been done. NEM won't just start off fair, it tries to stay that way. NEM will have one of the most fair mining systems called POI.

[Hollowman338]

People bitching about founder/developer shares.

SHUT

THE FUCK

UP

You wouldn't have shit here without them, so fuck off if you don't like it.  My apologies UF for bringing some putrid language into your thread, but I believe it had to be said.

That is all.  

[hunanay]

Satoshi owns more than 10% of bitcoin by himself.
I don't know if it's true but I heard Charles Lee owns 27% of Litecoin.
The top two Litecoin wallets each have 10% of Litecoin in them.
JR once owned or still owns more than half of Mastercoin.
NXT was divided by 73 people, some getting way more than others.
Ripple labs owns half of the Ripple from premine.
And these aren't the pump and dumps.

NEM's distribution will be amazing! The "core" development team has 8 people but that is just the core. Some of the seriously hard working developers might end up with 1% but considering their effort and considering the norm in cryptocurrencies, this will by far be the most egalitarian distribution BY FAR!!! NEM is already trying to do something that hasn't been done. NEM won't just start off fair, it tries to stay that way. NEM will have one of the most fair mining systems called POI.

totally agree!NEM is one of the most fair mining systems called POI.

[jabo38]

And more...

A handful of mining pools all but control bitcoin.
ASICs are a heartbeat away from Litecoin so that'll happen their too.
And one guy from NXT gets 70% of the mining fees!!!!!

I'm very excited about NEM's POI. Rewarding nodes for actually serving the network in a reasonable way.

[jabo38]

I really believe it. If you are a regular person. NEM is where you want to be.

[utopianfuture]

I believe some of the confusion here is the conflict between older and more current versions of development updates.  There was initially like 8 developers but the list shrunk since February.

Right now I am almost certain it's just

Thies1965
UtopianFuture
LoiTran4
Krysto
Makoto1337

5 x 60 = 300, 300 being 10% of 3000.

As you can see - this is still 10% of the 3000 stakeholder figure or 1.8% per development of total NEM in circulation (3000 + 300 development stake).  As others had implied, if you wanted a piece of the Pie then you could had contributed between the months of February and April.

As for comparisons with other examples - I think they are all valid comparisons.  NxT, Mastercoin, Ripple, all had pretty lopsided distribution.

Maybe you have mis-read NCC specification. NEM core development team currently are

UtopianFuture: organization, technological road-map
Jaguar0625: core developer, NIS, NCC
Gimre : core developer, NIS, NCC
Makoto1337: core developer, NIS, POI
Thies1965: core developer, NIS, NCC
BloodyRookie: core developer, NIS
Krysto: NCC, web developer
TranLoi: NCC, designer, UX element

working parallel on two products NIS (Nem infrastructure server) and NCC (Nem Community Client) and of course a bunch of other things.

[gwinevere]

And more...

A handful of mining pools all but control bitcoin.
ASICs are a heartbeat away from Litecoin so that'll happen their too.
And one guy from NXT gets 70% of the mining fees!!!!!

I'm very excited about NEM's POI. Rewarding nodes for actually serving the network in a reasonable way.

I am also excited about PoI, I have a feeling it will have a bright future. You are right about "mining is so 2012-2013", here's another one you can use "PoW is so passé".

[ThePatient]

How does PoI work?

[dave5555]

I don't promise you any thing in particular. I said it okay that you can create an account for your friend. But you got it wrong when you think this is an investment while it never was. If you asked can my friend do nothing and not participate in helping NEM then I would say NO. This is not a hypothetical answer because it was indeed the answer I gave in one p.m earlier.

It should be very clear to everyone that NEM is now much bigger than it was in the first conception. It is a changing concept grown out of the stakeholders' contribution. It will be even much bigger later when the development team publish whitepaper, technological road-map etc. and other stakeholders join in. I will try to keep NEM evolve in that way.  

@Dave I never knew how many friends you have and want to create accounts for. I thought the question was for one friend. Anyway as I said your group of friends could get 1 or 2 stakes depending on refunding situation and I think you should take that.  

I'm not going to sit here and try to debate my case with you.

I know what was put on the table and you are backtracking on what was understood.

It doesn't matter, give me whatever stakes you can for the group and I will divide it amongst them accordingly.

That means that I will prorate their investment and refund whatever is needed to make it fair and balanced on my end.

At least I know I'm doing things right on my side, there's really no way to prove it because we are strangers online.

[gwinevere]

How does PoI work?

That is NEM's secret sauce, I guess we have to wait for the whitepaper.

[BitzMD]

you know before the auction. do you think it would be a good idea to release some snippets of code.. to instill some confidence in the buyers! i think you will get far more interest if you do!

also i dont think anyone has of yet called nem a scam? would i be right in saying that... if so that is an achievement in itself! :L

+1! A very good idea as it will surely increase bidders confidence and price  

I love the way things are progressing here - NEM has the potential to go mainstream!

Thats a good point to think about it!
I share your view - this could increase confidence. On the other side NEM has already its reputation so nobody would say anymore NEM is a kind of SCAM or something else in this direction.

 

but there are ALLOT of people who wont put a penny into anything untill they see something solid! and they are usually the ones with big money! lol perhaps have half before code snippet release and half after and see the difference! the fact that you say you will release code will bump the price a bit and then  after all the publicity about the 1st nem auction and code release you will have people biting your hand off for the second batch!

what you could also do.. is instead of letting people sell there stakes.. auction them off for people in a controlled manner.. have a waiting list of stakes to auction off.. but limit it to max how ever many a day/week.. that way you will get steady selling and no mass selling of stakes it will be organised and people will more then likely get more for their stakes and thus a higher base price at launch.. as this picks up more media attention more people will bid... you will have a waiting list of bidders rather then a waiting list of sellers by the time you launch! now that.. is when you will get mega bucks for the stakes! nem will also go down in history for highest trade volume... pre-launch lol

Very interesting

[utopianfuture]

I don't promise you any thing in particular. I said it okay that you can create an account for your friend. But you got it wrong when you think this is an investment while it never was. If you asked can my friend do nothing and not participate in helping NEM then I would say NO. This is not a hypothetical answer because it was indeed the answer I gave in one p.m earlier.

It should be very clear to everyone that NEM is now much bigger than it was in the first conception. It is a changing concept grown out of the stakeholders' contribution. It will be even much bigger later when the development team publish whitepaper, technological road-map etc. and other stakeholders join in. I will try to keep NEM evolve in that way.  

@Dave I never knew how many friends you have and want to create accounts for. I thought the question was for one friend. Anyway as I said your group of friends could get 1 or 2 stakes depending on refunding situation and I think you should take that.  

I'm not going to sit here and try to debate my case with you.

I know what was put on the table and you are backtracking on what was understood.

It doesn't matter, give me whatever stakes you can for the group and I will divide it amongst them accordingly.

That means that I will prorate their investment and refund whatever is needed to make it fair and balanced on my end.

At least I know I'm doing things right on my side, there's really no way to prove it because we are strangers online.

Exactly because we are online and communicate exclusively via written messages that you should really be able to prove it if I have in any way misled you to think this is a profitable investment or your friend should buy a NEM stake even he knows or care nothing about NEM.

[mladen00]

To be honest,it is really not a very good distribution.
1/2740=0.00036 and  ~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. ~

10%? really?
Are you kidding me?I'm really disappointed and I will not buy any nem coins in the future.

10% for developers is a fair share. They worked hard and organised such a massive project and distribution. They deserve to be rewarded.

Yes, they wanted to get rich so organised this project. But they also create some money/btc for us for just trolling

10% =400 shake/5 or 6 =60-80 shake/person
fair?
We have only 1 shake but His cake is 60-80 times as big as mine.
Does that seem fair to you?

WTF

I made a promise to myself that I will act nice when it comes to things regarding NEM because I want to respect the movement. I'm going to say this as nice as possible.

You are not seeing the big picture here. You are very short-sighted. Missing the point in a very very idiotic way. Open your eyes and take the lint out of your ears.

60 times more for the CREATORS than the guy who just CAME to what these guys CREATED!!

That for one is the best deal I have seen. Look around, but follow my advice above first.

SMH

+1

10% shares for devs is ok and normal

NEM devs are taking smallest piece of (THEIR) cake in whole cryptocoin history

RESPECT
+1

[ShawnLeary]

Satoshi owns more than 10% of bitcoin by himself.
I don't know if it's true but I heard Charles Lee owns 27% of Litecoin.
The top two Litecoin wallets each have 10% of Litecoin in them.
JR once owned or still owns more than half of Mastercoin.
NXT was divided by 73 people, some getting way more than others.
Ripple labs owns half of the Ripple from premine.
And these aren't the pump and dumps.

NEM's distribution will be amazing! The "core" development team has 8 people but that is just the core. Some of the seriously hard working developers might end up with 1%

Think it's more like 2-3%, right?

Anyway, I'm happy with my .003%   It took me nearly 3 minutes to send that 200NXT.  It was brutal.  If I don't get at least $100k for all that effort, I'm done with this crypto BS!

[patmast3r]

PLEASE let me and the rest of us that are on the waiting list AND willing to PROVE our identity in PLEASE!! That would only be adding 250,000,000 for a total of 4.25 billion NEM.

You will know we are not sockpuppets and a lot of us promised to be active.

This wouldn't be the end of the world for value, and you would make all of us very happy!!

It will help NEM because we WOULD ACTUALLY PARTICIPATE more than some of the others because most of us are people who have skills that would help NEM if you read what was said on the list.

Only those who will PROVE our identity.

UP please consider this, there will definitely be less than 250 that will be willing to prove who they are.

If it wasn't for the auction idea I would have made it in.

But I have to admit the auction idea IS a great idea!!
I just dont have enough BTC

Also I have been VERY active promoting NEM on the forum

There are other stakes also destined to go to the waitinglist. The auction idea has not rendered the waitlinglist useless

[patmast3r]

I encourage everyone that is unhappy with the stake distribution to wait for the dev contract announcement.
I understand it will state exactly what people do to get dev stakes (dunno if the exact distribution will be on there as well)

If you're still unhappy request a refund.

Please stop with these witch hunts because someone pointed out unverified numbers. All it does is hurt NEM. Maybe even wait until one of the devs confirms the numbers before raging out

[gimre]

I'm very excited about NEM's POI. Rewarding nodes for actually serving the network in a reasonable way.

keep in mind POI in it's current form is about accounts that are important for NEM network, not physical nodes themselves.

(but worry not, there's also secret idea, how nodes can be rewarded, it won't be in alpha and probably not even in beta)