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

[xtester]

As a NEM stakeholder I want to see it succeed. It would be great if it was worth a lot too. I understand that starting the price in an auction high would in theory make everyone else richer, at least on paper. But that kind of tactic is price manipulation and would best benefit the first person that dumps. I'd rather the auction start at 0 or at least the price of the last stake holders fee and let the free market raise it up from there.

Maidsafe recently tinkered with the price of their mastercoins and have been heavily criticized for it. They were basically given away shares at off free market prices that maidsafe "fixed" and it left a lot of people turned off by maidsafe. I'd rather have NEM not start off with more enemies than need be.

I understand your point. However the problem with maidsafe was not the valuation, but the discount offered to users who bought through mastercoin.

What I am saying is very different from price manipulation.

Because of the hard work put into both projects, maidsafe and etherium(although ether is not out yet) thought things trough and have set up a pre-market valuation from which the price should be allowed to increase. After the initial buying phase the market will decide what exact price each coin should have.

We have begun with a call to participation not an IPO so there is no price manipulation or anything of that sort. From then until now we have made some really good progress. We have some things that are almost in place but most important a lot of hard work and energy was put by utopian, the great dev team and the community to bring things to where they are. Imho the value of such a dev team, community and project is imense.

That is why setting a valuation, starting from there and allowing price to go up for a stake but not below during the auction seems the right move if we want to build things and not undermine our work with this auction.

Update: Consider that if we set a pre-auction valuation of 5 btc/stake which is 500 Satoshi/1Nem, the value is really reasonably low. To put things into perspective Nxt peaked at around 15000 Satoshi/1Nxt despite the distribution image problem they have and Dogecoin peaked at around 280 Satoshi/1Doge despite the unlimited coin supply. We are talking about an innovative movement here which has already gathered about 2500 - 3000 people to support it from the beginning. If you take a look around I think 5 btc is really cheap for what you see here.

[Spider]

If there are 120 stakes to auction, what about offering 1/10th stakes?
1200 auction blocks of 100,000 NEM with a 1 btc reserve. If it works we will raise >1,200 BTC.
Under the right conditions, it can happen. MaidSafe raised $6 million in just five hours.

Good idea.

I mean good idea to sell more smaller shares to  greater number of people, not to fix the price

[ShawnLeary]

ya know what you should do.. to add a lil bit o funky to the auction.. if there are 120 to auction.. announce that 110 are up for auction.. but 10 random stakes are double size stakes... lol

Has anyone taken the time yet to add up exactly how many socks have been booted, ie how many are being auctioned? 

My guess is they will sell for around 0.25 - 0.5 bitcoin right now.  But with the Alpha out, would double or triple that amount.

Maybe staggering the auctions every other week?  We could hype each one and bring out more and more bidders to them and have it lead up to the release.  Imagine being able to bid on a full stake the day before the a big coin like this is launching?  People would bid like mad to snag the last one, and would set the market price for the first exchange that accepts it the following day.   

[ShawnLeary]

is anyone going to any of the bitcoin confrences?
https://bitcoin.org/en/events

what about auctioning off a handful of stakes live at the conference.. set up a stand.. explain nem and what the whole project is about to people and allow them to bid on stakes! (or partial stakes)

or you could just have a full blown stand up and yell bdbdbdbbdbdbdbd 1 bitcoin bdbdbd can i get 2 bdbdbdbd sold to the bitcoin junky in the back row! now that would draw attention lol

Definitely wise to auction them off in a couple different formats.  Maybe even use ebay for one? 

[Gaman]

Rather than buying from account, it will be wiser to just join the auction.

[howi53]

As long as NEM flies under the radar, the NEM team decides about NEM
As soon as NEM is on the radar of the big guys, they decide about its future.
Take care of it.
See what happens to Bitcoin.

[shaman2000]

I sent BTC to NEM movement:

9940ba78a347f5b1380db3d48617da72b5c4fad58517075093eff4e4c84ed453

am I among stakeholders? How do I find out?

Dear Friend!

IPO has already closed....

Cheers

[pkuqsq]

Bitcoins will become the future currency is not the reality, but in the future as a medium of payment is still possible, so NEM development should pay attention to the correct direction

[cryptonit]

whats with people on waiting list?

[mr smith]

whats with people on waiting list?

Noone has been picked to join NEM from the waiting list . Should happen soon an announcement will be made.

[greentea]

As a NEM stakeholder I want to see it succeed. It would be great if it was worth a lot too. I understand that starting the price in an auction high would in theory make everyone else richer, at least on paper. But that kind of tactic is price manipulation and would best benefit the first person that dumps. I'd rather the auction start at 0 or at least the price of the last stake holders fee and let the free market raise it up from there.

Maidsafe recently tinkered with the price of their mastercoins and have been heavily criticized for it. They were basically given away shares at off free market prices that maidsafe "fixed" and it left a lot of people turned off by maidsafe. I'd rather have NEM not start off with more enemies than need be.

I understand your point. However the problem with maidsafe was not the valuation, but the discount offered to users who bought through mastercoin.

What I am saying is very different from price manipulation.

Because of the hard work put into both projects, maidsafe and etherium(although ether is not out yet) thought things trough and have set up a pre-market valuation from which the price should be allowed to increase. After the initial buying phase the market will decide what exact price each coin should have.

We have begun with a call to participation not an IPO so there is no price manipulation or anything of that sort. From then until now we have made some really good progress. We have some things that are almost in place but most important a lot of hard work and energy was put by utopian, the great dev team and the community to bring things to where they are. Imho the value of such a dev team, community and project is imense.

That is why setting a valuation, starting from there and allowing price to go up for a stake but not below during the auction seems the right move if we want to build things and not undermine our work with this auction.

Update: Consider that if we set a pre-auction valuation of 5 btc/stake which is 500 Satoshi/1Nem, the value is really reasonably low. To put things into perspective Nxt peaked at around 15000 Satoshi/1Nxt despite the distribution image problem they have and Dogecoin peaked at around 280 Satoshi/1Doge despite the unlimited coin supply. We are talking about an innovative movement here which has already gathered about 2500 - 3000 people to support it from the beginning. If you take a look around I think 5 btc is really cheap for what you see here.

I think the auction should start at 0, let the market decide what the price is

[Abel82]

If there are 120 stakes to auction, what about offering 1/10th stakes?
1200 auction blocks of 100,000 NEM with a 1 btc reserve. If it works we will raise >1,200 BTC.
Under the right conditions, it can happen. MaidSafe raised $6 million in just five hours.

I fully support this idea. So someone without many BTC would be able to buy a smaller amount of NEM, too!

+1000

[xtester]

As a NEM stakeholder I want to see it succeed. It would be great if it was worth a lot too. I understand that starting the price in an auction high would in theory make everyone else richer, at least on paper. But that kind of tactic is price manipulation and would best benefit the first person that dumps. I'd rather the auction start at 0 or at least the price of the last stake holders fee and let the free market raise it up from there.

Maidsafe recently tinkered with the price of their mastercoins and have been heavily criticized for it. They were basically given away shares at off free market prices that maidsafe "fixed" and it left a lot of people turned off by maidsafe. I'd rather have NEM not start off with more enemies than need be.

I understand your point. However the problem with maidsafe was not the valuation, but the discount offered to users who bought through mastercoin.

What I am saying is very different from price manipulation.

Because of the hard work put into both projects, maidsafe and etherium(although ether is not out yet) thought things trough and have set up a pre-market valuation from which the price should be allowed to increase. After the initial buying phase the market will decide what exact price each coin should have.

We have begun with a call to participation not an IPO so there is no price manipulation or anything of that sort. From then until now we have made some really good progress. We have some things that are almost in place but most important a lot of hard work and energy was put by utopian, the great dev team and the community to bring things to where they are. Imho the value of such a dev team, community and project is imense.

That is why setting a valuation, starting from there and allowing price to go up for a stake but not below during the auction seems the right move if we want to build things and not undermine our work with this auction.

Update: Consider that if we set a pre-auction valuation of 5 btc/stake which is 500 Satoshi/1Nem, the value is really reasonably low. To put things into perspective Nxt peaked at around 15000 Satoshi/1Nxt despite the distribution image problem they have and Dogecoin peaked at around 280 Satoshi/1Doge despite the unlimited coin supply. We are talking about an innovative movement here which has already gathered about 2500 - 3000 people to support it from the beginning. If you take a look around I think 5 btc is really cheap for what you see here.

I think the auction should start at 0, let the market decide what the price is

Why?

Do you have a good reason for that?

[davidsocom]

As a NEM stakeholder I want to see it succeed. It would be great if it was worth a lot too. I understand that starting the price in an auction high would in theory make everyone else richer, at least on paper. But that kind of tactic is price manipulation and would best benefit the first person that dumps. I'd rather the auction start at 0 or at least the price of the last stake holders fee and let the free market raise it up from there.

Maidsafe recently tinkered with the price of their mastercoins and have been heavily criticized for it. They were basically given away shares at off free market prices that maidsafe "fixed" and it left a lot of people turned off by maidsafe. I'd rather have NEM not start off with more enemies than need be.

I understand your point. However the problem with maidsafe was not the valuation, but the discount offered to users who bought through mastercoin.

What I am saying is very different from price manipulation.

Because of the hard work put into both projects, maidsafe and etherium(although ether is not out yet) thought things trough and have set up a pre-market valuation from which the price should be allowed to increase. After the initial buying phase the market will decide what exact price each coin should have.

We have begun with a call to participation not an IPO so there is no price manipulation or anything of that sort. From then until now we have made some really good progress. We have some things that are almost in place but most important a lot of hard work and energy was put by utopian, the great dev team and the community to bring things to where they are. Imho the value of such a dev team, community and project is imense.

That is why setting a valuation, starting from there and allowing price to go up for a stake but not below during the auction seems the right move if we want to build things and not undermine our work with this auction.

Update: Consider that if we set a pre-auction valuation of 5 btc/stake which is 500 Satoshi/1Nem, the value is really reasonably low. To put things into perspective Nxt peaked at around 15000 Satoshi/1Nxt despite the distribution image problem they have and Dogecoin peaked at around 280 Satoshi/1Doge despite the unlimited coin supply. We are talking about an innovative movement here which has already gathered about 2500 - 3000 people to support it from the beginning. If you take a look around I think 5 btc is really cheap for what you see here.

I think the auction should start at 0, let the market decide what the price is

Why?

Do you have a good reason for that?

In my opinion we shouldn't start at 0.
You won't buy something that you can have for free! You don't want to have something that someone gives you for free!
That's how it works around the world!

[BitZCoin]

As a NEM stakeholder I want to see it succeed. It would be great if it was worth a lot too. I understand that starting the price in an auction high would in theory make everyone else richer, at least on paper. But that kind of tactic is price manipulation and would best benefit the first person that dumps. I'd rather the auction start at 0 or at least the price of the last stake holders fee and let the free market raise it up from there.

Maidsafe recently tinkered with the price of their mastercoins and have been heavily criticized for it. They were basically given away shares at off free market prices that maidsafe "fixed" and it left a lot of people turned off by maidsafe. I'd rather have NEM not start off with more enemies than need be.

I understand your point. However the problem with maidsafe was not the valuation, but the discount offered to users who bought through mastercoin.

What I am saying is very different from price manipulation.

Because of the hard work put into both projects, maidsafe and etherium(although ether is not out yet) thought things trough and have set up a pre-market valuation from which the price should be allowed to increase. After the initial buying phase the market will decide what exact price each coin should have.

We have begun with a call to participation not an IPO so there is no price manipulation or anything of that sort. From then until now we have made some really good progress. We have some things that are almost in place but most important a lot of hard work and energy was put by utopian, the great dev team and the community to bring things to where they are. Imho the value of such a dev team, community and project is imense.

That is why setting a valuation, starting from there and allowing price to go up for a stake but not below during the auction seems the right move if we want to build things and not undermine our work with this auction.

Update: Consider that if we set a pre-auction valuation of 5 btc/stake which is 500 Satoshi/1Nem, the value is really reasonably low. To put things into perspective Nxt peaked at around 15000 Satoshi/1Nxt despite the distribution image problem they have and Dogecoin peaked at around 280 Satoshi/1Doge despite the unlimited coin supply. We are talking about an innovative movement here which has already gathered about 2500 - 3000 people to support it from the beginning. If you take a look around I think 5 btc is really cheap for what you see here.

I think the auction should start at 0, let the market decide what the price is

Why?

Do you have a good reason for that?

In my opinion we shouldn't start at 0.
You won't buy something that you can have for free! You don't want to have something that someone gives you for free!
That's how it works around the world!

But 0.x will also make it a long term investment, in the other way, I think a lot of stakeholders will sell their accounts and dump this coin to the limit.
With 0.x you will see the prize raise, so it will be worth it to hold your stake

[dasource]

The risk of putting a high value on this early days is that no-one has the incentive to hold and help grow the community and eco-system. Therefore it could start a downwards spiral which would require lots of cash to sustain.

Whilst NXT distribution was flawed in terms of numbers, the one thing they had on their side was that in theory they could have agreed not to sell large numbers hence preventing the early dumping.

With large number of stakeholders comes the challenge of not being able to control large dumps as easily.

[Schultereisen]

i would likely trade NEM on DGEX.com. Is it possible ?

[Djinou94]

When can i buy some steak ??

[gimre]

When can i buy some steak ??

When the chief's gonna grill it medium-rare

[davidsocom]

As a NEM stakeholder I want to see it succeed. It would be great if it was worth a lot too. I understand that starting the price in an auction high would in theory make everyone else richer, at least on paper. But that kind of tactic is price manipulation and would best benefit the first person that dumps. I'd rather the auction start at 0 or at least the price of the last stake holders fee and let the free market raise it up from there.

Maidsafe recently tinkered with the price of their mastercoins and have been heavily criticized for it. They were basically given away shares at off free market prices that maidsafe "fixed" and it left a lot of people turned off by maidsafe. I'd rather have NEM not start off with more enemies than need be.

I understand your point. However the problem with maidsafe was not the valuation, but the discount offered to users who bought through mastercoin.

What I am saying is very different from price manipulation.

Because of the hard work put into both projects, maidsafe and etherium(although ether is not out yet) thought things trough and have set up a pre-market valuation from which the price should be allowed to increase. After the initial buying phase the market will decide what exact price each coin should have.

We have begun with a call to participation not an IPO so there is no price manipulation or anything of that sort. From then until now we have made some really good progress. We have some things that are almost in place but most important a lot of hard work and energy was put by utopian, the great dev team and the community to bring things to where they are. Imho the value of such a dev team, community and project is imense.

That is why setting a valuation, starting from there and allowing price to go up for a stake but not below during the auction seems the right move if we want to build things and not undermine our work with this auction.

Update: Consider that if we set a pre-auction valuation of 5 btc/stake which is 500 Satoshi/1Nem, the value is really reasonably low. To put things into perspective Nxt peaked at around 15000 Satoshi/1Nxt despite the distribution image problem they have and Dogecoin peaked at around 280 Satoshi/1Doge despite the unlimited coin supply. We are talking about an innovative movement here which has already gathered about 2500 - 3000 people to support it from the beginning. If you take a look around I think 5 btc is really cheap for what you see here.

I think the auction should start at 0, let the market decide what the price is

Why?

Do you have a good reason for that?

In my opinion we shouldn't start at 0.
You won't buy something that you can have for free! You don't want to have something that someone gives you for free!
That's how it works around the world!

But 0.x will also make it a long term investment, in the other way, I think a lot of stakeholders will sell their accounts and dump this coin to the limit.
With 0.x you will see the prize raise, so it will be worth it to hold your stake

Well, I will hold at least 75 % of my stake, thats for sure. The other 25 % I decided to spend for charity purposes, so Pump and Dump is not my intention.
But it's like the world is thinking about everything.
You can have the best product of the world. There will be no or just minimal demand on something without value! By now people are thinking this could be something bad, something worthless.
I you have a less good product and you ask for a certain price, everybody will think about the value, the price and its adequacy. In this case, they also think twice before they resell this product.
By now the product has a certain value. It isn't something worthless and can hold or increase its value in a proper way.

Maybe now you can understand my leading thought better.