NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs

[mrvegad]

So does this mean this no longer applies?:
    71% - distributed to stakeholders on the final stakeholder list.
    4% - auctioned off at a later date.

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[jabo38]

So does this mean this no longer applies?:
    71% - distributed to stakeholders on the final stakeholder list.
    4% - auctioned off at a later date.

Yes, the auction was cancelled a long time ago.

[mrvegad]

So does this mean this no longer applies?:
    71% - distributed to stakeholders on the final stakeholder list.
    4% - auctioned off at a later date.

Yes, the auction was cancelled a long time ago.

and the 71%?

[crimi]

Now you are in semantics (from past form, most likely wilful obfuscation from the main piont but...)

The devs are 'getting' 65% of the stakes as they will hold the keys to those stakes (presumably, I have asked twice to confirm). Are they being awarded 65% for themselves? No. Are they in effect holding control of 65% of all NEM?  Yes, most certainly.  Unless someone can say who else would be after launch.

Hardly an assertion, more a logical follow through of the facts we know  

And as I have pointed out 4-5 times, it is the percentage that concerns people.

+1

35% - distributed to stakeholders on the final stakeholder list.
25% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
25% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
11% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem.
4% - auctioned off at a later date.

You just have to put it in the right context and it will sound much better?

[kjadB]

Nobody wants to repeat NXT.  I remember from 2013, and the posts are still there on the older NXT forum, of people having to beg the whales to make the whales richer *mind blown*, that is real greed when you're sitting on $4 million and can't even be bothered to help fund your own coin.  On the contrary, most of the behaviour of the NXT whales (since day #1) was to dump and cash out their lottery winnings without any regard for the ecosystem or NXT's overall livelihood.  That's why nobody is buying NXT anymore because as soon as it shows any signs of going up - the whales dump it back down.  

Can you show some of these posts of greedy NXT whales refusing to donate? As someone who came later and reviewed the first six months of NXT in a few days my assessment is very different. NXT whales basically got the job done, that's why NXT is still hands down the best crypto to follow bitcoin. Who were the greedy ones?

[jabo38]

So does this mean this no longer applies?:
    71% - distributed to stakeholders on the final stakeholder list.
    4% - auctioned off at a later date.

Yes, the auction was cancelled a long time ago.

and the 71%?

As far as I know there is a 25% and 75% split. Some of that 25% goes to main devs at launch and some goes to future main devs once they have completed some really nice features and leave beta and go into version 1. This is maybe a year from now. And some of the 25% will go towards creating marketing team strategy for a marketing team.

Of the 75% a ton of sock puppets were kicked out. I think we all agree that was a really good thing (except for the people with only 5 posts who are coming in here to complain).  For literally months there was discussion to burn, redistribute, or put the funds towards special projects. Of course lots of people will pop into this thread at launch telling NEM devs what they "should" be doing with that money now that it is launch, but the reality is they gave no input before. After a lot of discussion that went on for months and votes by the community members that were actually active (not just for redeeming and dumping) it was decided to use funds from sock puppets to fund special projects which the numbers have been posted in here. These include some redistribution projects like node rewards and silver coins. Some development projects like hiring people to build professional quality phone apps (NEM devs are awesome programmers but they aren't app makers). And there is also a community fund where the community will vote on block chain for projects that the community wants. And lastly there is a plan to build a sustainable loop with XEM.

It should be noted while in the short term devs will have the extra money under multsig accounts. It isn't their money. No XEM will go into their pockets either directly or indirectly from the sock puppet funds. But by dividing it out via multisig everyone can feel safe that nobody will steal the money. For the money not be stolen, it means that only one need be honest. In reality it is probably the case that all the main devs are honest. Again scammers don't work so hard to introduce so many security features in a new platform.

[TaunSew]

Nobody wants to repeat NXT.  I remember from 2013, and the posts are still there on the older NXT forum, of people having to beg the whales to make the whales richer *mind blown*, that is real greed when you're sitting on $4 million and can't even be bothered to help fund your own coin.  On the contrary, most of the behaviour of the NXT whales (since day #1) was to dump and cash out their lottery winnings without any regard for the ecosystem or NXT's overall livelihood.  That's why nobody is buying NXT anymore because as soon as it shows any signs of going up - the whales dump it back down.  

Can you show some of these posts of greedy NXT whales refusing to donate? As someone who came later and reviewed the first six months of NXT in a few days my assessment is very different. NXT whales basically got the job done, that's why NXT is still hands down the best crypto to follow bitcoin. Who were the greedy ones?

http://ww1.nextcoin.org/index.php/board,8.0.html

Awfully convenient to shut down a website which cataloged much of the early information regarding NXT.  Still you get some unrelated traces about this on other websites.

http://nxtcoin.blogspot.ca/2014/01/nxtmyths-1-nxt-is-not-scam-it-wasnt.html
(Why did Klee have to fund everything again?  Explain the other 4 whales or even the other 7.  That was back then, today Klee is gone-ed and CfB even left for Jinn)


http://www.nxtcoins.nl/bitcointalk-summary-13-01-2014/
(Uhh 20,000 NxT for high end apps?  So 8 whales are contributing 0.00005% of their literally free overnight lotto winnings to improve NXT?  

I'll give it a few months until they shut down these ones too.


NxT was a crappy setup where anybody with good ideas had to beg from the whales and if the whales didn't like it then you never got funding.  In most circumstances of funding, if they did give it out, it was like dust.  That's not how you run a crypto currency.  NXT never maintained momentum after its' initial success and today it is a coin of trolls and scammers.  NxT's scam distribution led to scammers, hah.

[mrvegad]

So does this mean this no longer applies?:
    71% - distributed to stakeholders on the final stakeholder list.
    4% - auctioned off at a later date.

Yes, the auction was cancelled a long time ago.

and the 71%?

As far as I know there is a 25% and 75% split. Some of that 25% goes to main devs at launch and some goes to future main devs once they have completed some really nice features and leave beta and go into version 1. This is maybe a year from now. And some of the 25% will go towards creating marketing team strategy for a marketing team.

Of the 75% a ton of sock puppets were kicked out. I think we all agree that was a really good thing (except for the people with only 5 posts who are coming in here to complain).  For literally months there was discussion to burn, redistribute, or put the funds towards special projects. Of course lots of people will pop into this thread at launch telling NEM devs what they "should" be doing with that money now that it is launch, but the reality is they gave no input before. After a lot of discussion that went on for months and votes by the community members that were actually active (not just for redeeming and dumping) it was decided to use funds from sock puppets to fund special projects which the numbers have been posted in here. These include some redistribution projects like node rewards and silver coins. Some development projects like hiring people to build professional quality phone apps (NEM devs are awesome programmers but they aren't app makers). And there is also a community fund where the community will vote on block chain for projects that the community wants. And lastly there is a plan to build a sustainable loop with XEM.

But as of right now only 40% of stakes are going to the stakeholders, is the other 35% going to be given to them? And if so how?

So the 75% won't be upheld even though it says so on the first page of this thread? More misinformation again.

[Come-from-Beyond]

but if NEM never launch then Igor will never be able to release his Jinn and forever will beautiful Svetlana be plowed by hairy Boris truck driver, this is hairy slavic love story at stake.  Proof of Stake.      

Reminded this - https://www.youtube.com/watch?v=lnatAZR2u2s

[jabo38]

So does this mean this no longer applies?:
    71% - distributed to stakeholders on the final stakeholder list.
    4% - auctioned off at a later date.

Yes, the auction was cancelled a long time ago.

and the 71%?

As far as I know there is a 25% and 75% split. Some of that 25% goes to main devs at launch and some goes to future main devs once they have completed some really nice features and leave beta and go into version 1. This is maybe a year from now. And some of the 25% will go towards creating marketing team strategy for a marketing team.

Of the 75% a ton of sock puppets were kicked out. I think we all agree that was a really good thing (except for the people with only 5 posts who are coming in here to complain).  For literally months there was discussion to burn, redistribute, or put the funds towards special projects. Of course lots of people will pop into this thread at launch telling NEM devs what they "should" be doing with that money now that it is launch, but the reality is they gave no input before. After a lot of discussion that went on for months and votes by the community members that were actually active (not just for redeeming and dumping) it was decided to use funds from sock puppets to fund special projects which the numbers have been posted in here. These include some redistribution projects like node rewards and silver coins. Some development projects like hiring people to build professional quality phone apps (NEM devs are awesome programmers but they aren't app makers). And there is also a community fund where the community will vote on block chain for projects that the community wants. And lastly there is a plan to build a sustainable loop with XEM.

But as of right now only 40% of stakes are going to the stakeholders, is the other 35% going to be given to them? And if so how?

So the 75% won't be upheld even though it says so on the first page of this thread? More misinformation again.

Definitely any misinformation needs to be updated. I'm hoping that will be done before launch. It's always best making sure things are clear.

As per what happens to the sock funds. Again, it won't ever either directly or indirectly go into the devs pocket. I just explained in the post above the soecial projects that the sock funds will go towards.

[gimre]

https://forum.nemcoin.com/beta-launch-discussion/nem-beta-0-5-18/

[jabo38]

More proof that the NEM devs are hard at work! 

I really hope people can see what is going on.

NEM devs working really hard.

[MrPortMan]

And more : https://youtu.be/3JJfqWHNn2E

[MrPortMan]

Come-from-Beyond Russia - Syberia

https://youtu.be/RJsCZT1IjX8

[kjadB]

Nobody wants to repeat NXT.  I remember from 2013, and the posts are still there on the older NXT forum, of people having to beg the whales to make the whales richer *mind blown*, that is real greed when you're sitting on $4 million and can't even be bothered to help fund your own coin.  On the contrary, most of the behaviour of the NXT whales (since day #1) was to dump and cash out their lottery winnings without any regard for the ecosystem or NXT's overall livelihood.  That's why nobody is buying NXT anymore because as soon as it shows any signs of going up - the whales dump it back down.  

Can you show some of these posts of greedy NXT whales refusing to donate? As someone who came later and reviewed the first six months of NXT in a few days my assessment is very different. NXT whales basically got the job done, that's why NXT is still hands down the best crypto to follow bitcoin. Who were the greedy ones?

http://ww1.nextcoin.org/index.php/board,8.0.html

Awfully convenient to shut down a website which cataloged much of the early information regarding NXT.  Still you get some unrelated traces about this on other websites.

http://nxtcoin.blogspot.ca/2014/01/nxtmyths-1-nxt-is-not-scam-it-wasnt.html
(Why did Klee have to fund everything again?  Explain the other 4 whales or even the other 7.  That was back then, today Klee is gone-ed and CfB even left for Jinn)


http://www.nxtcoins.nl/bitcointalk-summary-13-01-2014/
(Uhh 20,000 NxT for high end apps?  So 8 whales are contributing 0.00005% of their literally free overnight lotto winnings to improve NXT?  

I'll give it a few months until they shut down these ones too.


NxT was a crappy setup where anybody with good ideas had to beg from the whales and if the whales didn't like it then you never got funding.  In most circumstances of funding, if they did give it out, it was like dust.  That's not how you run a crypto currency.  NXT never maintained momentum after its' initial success and today it is a coin of trolls and scammers.  NxT's scam distribution led to scammers, hah.

No names or specific instances in those links you posted. Can you just recount a few instances from memory? Obviously people who had ideas and projects that didn;t get any donations or bounties would have have been pissed off,  but guys like jl777 were funded and have become key NXT developers, and as far as I know jl777 was not in the original 73 NXT stakeholders. NXT whales couldn't fund everyone, and their success rate was pretty good. I get that NEM is trading off a little more centralisation to get better dev funding, and that might work out OK, but I really don't get the "NXT whales were greedy" opinion. They used mutual self-interest to fund the people that they believed would do the best work, like jl777 and many others.That's not greed, and so far the results for a 100% decentralised project have been impressive.

Please name the names of the "greedy whales" if you can, and say what they did that was greedy. The history of NXT and NEM and connected, and its important to get the facts straight. Many say you're UtopianFuture who left NXT and started NEM from bitterness because you/he didn't get funded, like jl777 did. If that's true your opinion is trolling, but if you know specific acts by real people, then that's different. I honestly don't know what motivates you, but whoever you are, I think if you have evidence of greedy NXT whales it would be useful to share the specifics, not just repeat the same accusation that doesn't seem to be backed by any evidence.

[MrPortMan]

Come-from-Beyond, is Svetlana. Is this love : https://youtu.be/MOEBCEMLJLw

[nutildah]

can everyone please stop just provoking each other? we are getting really damn close to launch, why not get excited about that and go test out the latest version of the client.

Really? Are we actually "close to launch?" Because you've been using that expression for months on end now. So you've basically rendered it meaningless, along with anything you might have to say about NEM.

[TaunSew]

Nobody wants to repeat NXT.  I remember from 2013, and the posts are still there on the older NXT forum, of people having to beg the whales to make the whales richer *mind blown*, that is real greed when you're sitting on $4 million and can't even be bothered to help fund your own coin.  On the contrary, most of the behaviour of the NXT whales (since day #1) was to dump and cash out their lottery winnings without any regard for the ecosystem or NXT's overall livelihood.  That's why nobody is buying NXT anymore because as soon as it shows any signs of going up - the whales dump it back down.  

Can you show some of these posts of greedy NXT whales refusing to donate? As someone who came later and reviewed the first six months of NXT in a few days my assessment is very different. NXT whales basically got the job done, that's why NXT is still hands down the best crypto to follow bitcoin. Who were the greedy ones?

http://ww1.nextcoin.org/index.php/board,8.0.html

Awfully convenient to shut down a website which cataloged much of the early information regarding NXT.  Still you get some unrelated traces about this on other websites.

http://nxtcoin.blogspot.ca/2014/01/nxtmyths-1-nxt-is-not-scam-it-wasnt.html
(Why did Klee have to fund everything again?  Explain the other 4 whales or even the other 7.  That was back then, today Klee is gone-ed and CfB even left for Jinn)


http://www.nxtcoins.nl/bitcointalk-summary-13-01-2014/
(Uhh 20,000 NxT for high end apps?  So 8 whales are contributing 0.00005% of their literally free overnight lotto winnings to improve NXT?  

I'll give it a few months until they shut down these ones too.


NxT was a crappy setup where anybody with good ideas had to beg from the whales and if the whales didn't like it then you never got funding.  In most circumstances of funding, if they did give it out, it was like dust.  That's not how you run a crypto currency.  NXT never maintained momentum after its' initial success and today it is a coin of trolls and scammers.  NxT's scam distribution led to scammers, hah.

No names or specific instances in those links you posted. Can you just recount a few instances from memory? Obviously people who had ideas and projects that didn;t get any donations or bounties would have have been pissed off,  but guys like jl777 were funded and have become key NXT developers, and as far as I know jl777 was not in the original 73 NXT stakeholders. NXT whales couldn't fund everyone, and their success rate was pretty good. I get that NEM is trading off a little more centralisation to get better dev funding, and that might work out OK, but I really don't get the "NXT whales were greedy" opinion. They used mutual self-interest to fund the people that they believed would do the best work, like jl777 and many others.That's not greed, and so far the results for a 100% decentralised project have been impressive.

Please name the names of the "greedy whales" if you can, and say what they did that was greedy. The history of NXT and NEM and connected, and its important to get the facts straight. Many say you're UtopianFuture who left NXT and started NEM from bitterness because you/he didn't get funded, like jl777 did. If that's true your opinion is trolling, but if you know specific acts by real people, then that's different. I honestly don't know what motivates you, but whoever you are, I think if you have evidence of greedy NXT whales it would be useful to share the specifics, not just repeat the same accusation that doesn't seem to be backed by any evidence.

http://ww1.nextcoin.org/index.php/board,8.0.html

Where did UtopianFuture try to request funding?  Waiting for you to find a post sometime between October 2013 to January 2014 on that forum.  Oh wait they took it down, so how could I prove my earlier points (or your allegations about UF, UF =/= TS) if they've been erasing all the early history of NXT?

You're dealing with somebody who was actually in NXT (as a lurker but still there) before you came a year later.  So in that regard my anecdotal evidence trumps your lack of existence.

Besides  James wasn't funded by whales but literally created all these ponzi projects which he never completed and that's how he attained all that funding.  As soon as he created one project he was literally announcing the next and meanwhile people were exchanging their valuable NXT for his ponzi crap.  If you take everybody's NXT(1 billion coins) you would come nowhere close to buying out his assets.

https://nxtblocks.info/#section/assets_exchange/market/17554243582654188572

Quantity:    21'000'000.00000000        Capitalization:    422'310'000'000 NXT  (if you can't read that is 413 billion NXT vs 1 billion NXT in existence, and James has tons of those assets and they used to be worth more.  At one point his assets were worth 1 trillion NXT!  LMAO!)

So nope no whale funding more like ponzi funding.

[MrPortMan]

https://forum.nemcoin.com/beta-launch-discussion/nem-beta-0-5-18/

Thanks, i'm go test ^__^

Come-from-Beyond, oй чтo-тo мы зacидeлиcь бpaтцы, нe пopa ли нaм paзгyлятьcя? Pycь мoлoдaя, cилы нe мepeнo! Дaйтe кoня мнe, дa дoбpый мeч

https://youtu.be/QNT-dHoJdRg

[TaunSew]