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Author Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs  (Read 2780606 times)
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BitZCoin
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June 18, 2014, 01:40:40 AM
 #141

Let me address some of the issues.
...
When it comes to me (and I think I express view of other devs too), I'm here for NEM, not for btc.
Whether public auction will be held (I think it should as it was promised), and how many stakes
will there be, is TBD. We will definitely take Eadeqa's fears and doubts into consideration.
(Give us few days time for some internal discussion)

Regarding 15%, keep in mind there is 400/100/100 split there, so it's not only dev but also promotion and ecosystem.

The 10% reserve, is supposed to go for FUTURE projects and it will be LOCKED (using NEM business rules).


Very reasonable IMO. I am an early investor in Nxt and a stake holder in NEM and allow me to chime in my perspective here: Eadeqa's FUD is widely off the mark.

When Nxt was out of the genesis block there were a radom 8 people who held 5% of the total coin each. There were at least two other peope who sent the Btc twice or more and they had 5% of the total coin each too. Comparing to NEM current scheme in which the core dev. get about 2% for doing allmost all the works up to V1 blockchain (which is up to current Nxt blockchain specification as I understand).

I am questioning this Eadeqa's motive. He doesn't care that a random person holding 5% of Nxt but worry so much that a NEM core developer getting 2%? Isn't is suspicisous ? I would demand his explanation before considering any of his FUD request.

As a business owner and a technocrat myself, I believe in hardwork being rewarded. As a regular investor (in other businesses), I am always looking for the clues that the key people of that entities having proper incentives for doing a good job of running the show. As a NEM stakeholder, I think it is the best for NEM that the core dev. and other key peope in marketing and business having a sizeable chunk of NEM so that they have an interest in developing and building NEM for a longer term success.

Add: As a community, we have to treat our developers well. They are NEM founders and deserve to be treated as such.

Please join in and help us build things! Feel free to come on trello.


Unfortunatly I'm not a programer, but I'm good in marketing and selling products.
Also, I'm creativ and dedicated.
My english is good and I have a great german in speech and writing which makes it no problem for me to organize several activities and stay in contact with different people, organizations or bloggers, etc. .
I'm following this coin nearly from the beginning. But at least from next week on, I'll have a lot of time in which I have the intention to introduce myself even more.
So is there anything left I could do for this coin on trello, when the time comes?
It's in the responsibility of us all to make NEM a success and to take care for our community.

Here it is: TakePart!
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makoto1337
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June 18, 2014, 01:57:12 AM
 #142

Let me address some of the issues.
...
When it comes to me (and I think I express view of other devs too), I'm here for NEM, not for btc.
Whether public auction will be held (I think it should as it was promised), and how many stakes
will there be, is TBD. We will definitely take Eadeqa's fears and doubts into consideration.
(Give us few days time for some internal discussion)

Regarding 15%, keep in mind there is 400/100/100 split there, so it's not only dev but also promotion and ecosystem.

The 10% reserve, is supposed to go for FUTURE projects and it will be LOCKED (using NEM business rules).


Very reasonable IMO. I am an early investor in Nxt and a stake holder in NEM and allow me to chime in my perspective here: Eadeqa's FUD is widely off the mark.

When Nxt was out of the genesis block there were a radom 8 people who held 5% of the total coin each. There were at least two other peope who sent the Btc twice or more and they had 5% of the total coin each too. Comparing to NEM current scheme in which the core dev. get about 2% for doing allmost all the works up to V1 blockchain (which is up to current Nxt blockchain specification as I understand).

I am questioning this Eadeqa's motive. He doesn't care that a random person holding 5% of Nxt but worry so much that a NEM core developer getting 2%? Isn't is suspicisous ? I would demand his explanation before considering any of his FUD request.

As a business owner and a technocrat myself, I believe in hardwork being rewarded. As a regular investor (in other businesses), I am always looking for the clues that the key people of that entities having proper incentives for doing a good job of running the show. As a NEM stakeholder, I think it is the best for NEM that the core dev. and other key peope in marketing and business having a sizeable chunk of NEM so that they have an interest in developing and building NEM for a longer term success.

Add: As a community, we have to treat our developers well. They are NEM founders and deserve to be treated as such.

Please join in and help us build things! Feel free to come on trello.


Unfortunatly I'm not a programer, but I'm good in marketing and selling products.
Also, I'm creativ and dedicated.
My english is good and I have a great german in speech and writing which makes it no problem for me to organize several activities and stay in contact with different people, organizations or bloggers, etc. .
I'm following this coin nearly from the beginning. But at least from next week on, I'll have a lot of time in which I have the intention to introduce myself even more.
So is there anything left I could do for this coin on trello, when the time comes?
It's in the responsibility of us all to make NEM a success and to take care for our community.

You can join the trello promotion board and post ideas on there. You can also propose marketing ideas by sending xtester a PM.

NeverEnoughMakoto XEM: NDMAKOTODH4OXMQCAGZWWPVLRUVOCLXXKOSKFUJA/
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June 18, 2014, 02:19:05 AM
 #143


Why wait? NEM has a strong community. Once the open alpha releases, the APIs will be made public shortly after. I hope the community can start building on top of NEM at that point while the core team is still focused on the core blockchain features.

Just wanted to make sure people saw this. I can't wait to see what people come up with before the launch.
I'm currently examining some other cryptos API for practice  Grin

NEM.io         blog.NEM.io        r/ourNEM
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June 18, 2014, 02:28:17 AM
 #144

Just a mildly interesting article you guys might enjoy: http://www.theguardian.com/technology/2014/jun/17/bitcoin-privatise-pound-free-market-thinktank

NEM - New Economy Movement - http://blog.nem.io/overview/ | www.reddit.com/r/nem | https://www.facebook.com/ourNEM | https://twitter.com/nemcoin
Built from the Ground up with 100% Original Code | A Second-Generation Crypto, Radically Improved over Bitcoin | Philosophy of Solidarity and Egalitarianism
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June 18, 2014, 02:37:04 AM
 #145

Let me address some of the issues.

Regarding dev fund, as of today UF already spend 10.5BTC for UI/UX. And the estimate is another 10btc till Aug.
The dev fund is controlled by dev team, the accounts are in first post.


There are/were two main reasons for public auction:
  • get more stakeholder, to have 3000 stakes altogether,
  • get funds for future work (mainly for external expenses),
  • public auction would most likely be held AFTER BETA.

When it comes to me (and I think I express view of other devs too), I'm here for NEM, not for btc.
Whether public auction will be held (I think it should as it was promised), and how many stakes
will there be, is TBD. We will definitely take Eadeqa's fears and doubts into consideration.
(Give us few days time for some internal discussion)

Regarding 15%, keep in mind there is 400/100/100 split there, so it's not only dev but also promotion and ecosystem.

The 10% reserve, is supposed to go for FUTURE projects and it will be LOCKED (using NEM business rules).


How about we use a large percentage of the auction proceeds to benefit Sean's outpost or another non-profit organization.  This would be a great public relations event.


I think it's probably better to use the funds to grow and improve nem, at least initially.

NEM - nem.io
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June 18, 2014, 02:39:03 AM
 #146


Actually, i think the rationale behind alot of the "average joe" user goes a bit like this:

1. They read FUD in mainstream media which in often cases only reports on stories that are controversial or negative (on the subject of crypto's that is) - negativity is frequently good clickbait as people are more inclined to express outrage or negativity then they are praise. It's a human trait. (Although granted, Bitcoin deserves criticism in many respects, if it didn't, i wouldn't invest in non-PoW coins, however mainstream media tends to literally spread FUD when it deals with Cryptocurrency, largely through ignorance and a agenda, this leads to outright scorn, not criticism. )

2. The corresponding opinion as a result of mainstream media makes them uninterested or inclined to believe Crypto's are scams or unsafe - and in many respects, they're right. This forum is full to the brim of scamcoins. Even bitcoin, being still rather young, is volatile in terms of valuation -this makes it unsafe to stash away your hard earned savings/money in it.


With the above things in mind, NEM will likely struggle to make it into mainstream adoption unless it's able to market itself like Bitcoin did; on the allure of "money for nothing" or "mining". I for one think a few viral video's and some well placed, timed Facebook marketing is in order - but obviously on more honest and transparent principles.

The biggest thing going for NEM right now is it's rather large initial distribution - this gives it more security, and the more who already join in, the more secure it will become.

There's no way I could put it better than that, especially point #1. Someone in my family hits me up at least once a month saying "Sell all your Bitcoin now, did you read the latest news article". I then have to spend at least 10 minutes explaining to them what is really going on.

NEM.io         blog.NEM.io        r/ourNEM
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June 18, 2014, 02:54:19 AM
 #147

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket  at current prices.

If developers want 400 BTC more, why they also need 15% stake too  (which is 600 million Nem)



Money is used to pay for ecosystem dev, etc. Those stakes are only worth 400 BTC because of our efforts, so what is the problem?

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  





NXT-GZYP-FMRT-FQ9K-3YQGS
https://nxtforum.org
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June 18, 2014, 03:10:51 AM
 #148

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket  at current prices.

If developers want 400 BTC more, why they also need 15% stake too  (which is 600 million Nem)


Money is used to pay for ecosystem dev, etc. Those stakes are only worth 400 BTC because of our efforts, so what is the problem?

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich.


I think you are delusional. You should try to build a coin yourself to see what it is worth. A different solution: try to persuade JeanLuc to part away with his 50 million Nxt before complaining about the shares of NEM core dev. NEM need community and supporters but the shares to the dev. are more than fair. Community has 75% of the shares to build the projects of our own. Community is the majority of this project, of course after the products are released and NEM are distributed    Grin Cheesy Grin

Quote
Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.

Why don't you ask that dumping questions to JeanLuc and other 50 million holders in the Nxt land ? OH because it is well  Grin Cheesy Grin

NEM: TC2L3G2VREUAZI7SE5WJW7TM6B3DBBKL4DJCO6AA
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June 18, 2014, 03:27:00 AM
 #149

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket  at current prices.

If developers want 400 BTC more, why they also need 15% stake too  (which is 600 million Nem)



Money is used to pay for ecosystem dev, etc. Those stakes are only worth 400 BTC because of our efforts, so what is the problem?

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  


Did you read this? https://raw.githubusercontent.com/makoto1337/NEMlogos/master/handout/page3.jpg

1) Until V1: core dev gets 10%, which is less than 2% per person (on average). 5% goes to marketing/ecosystem (these are roughly the numbers as UP has laid out before, but remember that distributions of the 15% are up to the discretion of the core team)
2) After V1: 10% of NEM released over time, on average 10% every two months. This is for development and marketing for NEM.

What to do with unclaimed stakes is still being debated, but it is likely they will be used for paying for developing and marketing post-V1.

To be serious and promote NEM and build projects to support everyone, I think it is very reasonable to do the distribution like it is planned. I seriously doubt any of the core devs will dump their stakes. Why would we want to destroy what we created?

NeverEnoughMakoto XEM: NDMAKOTODH4OXMQCAGZWWPVLRUVOCLXXKOSKFUJA/
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June 18, 2014, 03:37:03 AM
 #150

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket  at current prices.

If developers want 400 BTC more, why they also need 15% stake too  (which is 600 million Nem)



Money is used to pay for ecosystem dev, etc. Those stakes are only worth 400 BTC because of our efforts, so what is the problem?

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  


Did you read this? https://raw.githubusercontent.com/makoto1337/NEMlogos/master/handout/page3.jpg

1) Until V1: core dev gets 10%, which is less than 2% per person (on average). 5% goes to marketing/ecosystem (these are roughly the numbers as UP has laid out before, but remember that distributions of the 15% are up to the discretion of the core team)
2) After V1: 10% of NEM released over time, on average 10% every two months. This is for development and marketing for NEM.

What to do with unclaimed stakes is still being debated, but it is likely they will be used for paying for developing and marketing post-V1.

To be serious and promote NEM and build projects to support everyone, I think it is very reasonable to do the distribution like it is planned. I seriously doubt any of the core devs will dump their stakes. Why would we want to destroy what we created?

Makoto1337 who codes > Eadeqa who Huh. Suggestion to Eadega: make your own coin. Viva no envy movement  Smiley

NEM: TC2L3G2VREUAZI7SE5WJW7TM6B3DBBKL4DJCO6AA
makoto1337
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June 18, 2014, 03:44:46 AM
 #151

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket  at current prices.

If developers want 400 BTC more, why they also need 15% stake too  (which is 600 million Nem)



Money is used to pay for ecosystem dev, etc. Those stakes are only worth 400 BTC because of our efforts, so what is the problem?

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  


Did you read this? https://raw.githubusercontent.com/makoto1337/NEMlogos/master/handout/page3.jpg

1) Until V1: core dev gets 10%, which is less than 2% per person (on average). 5% goes to marketing/ecosystem (these are roughly the numbers as UP has laid out before, but remember that distributions of the 15% are up to the discretion of the core team)
2) After V1: 10% of NEM released over time, on average 10% every two months. This is for development and marketing for NEM.

What to do with unclaimed stakes is still being debated, but it is likely they will be used for paying for developing and marketing post-V1.

To be serious and promote NEM and build projects to support everyone, I think it is very reasonable to do the distribution like it is planned. I seriously doubt any of the core devs will dump their stakes. Why would we want to destroy what we created?

Makoto1337 who codes > Eadeqa who Huh. Suggestion to Eadega: make your own coin. Viva no envy movement  Smiley

Eadeqa's concerns are valid. You don't want a killswitch in place like bitcoin (http://www.loper-os.org/?p=1009) or NXT. I think our devs are really great people and not just great coders, though, so I hope people can have confidence in the community.

NeverEnoughMakoto XEM: NDMAKOTODH4OXMQCAGZWWPVLRUVOCLXXKOSKFUJA/
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June 18, 2014, 03:54:28 AM
 #152

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket  at current prices.

If developers want 400 BTC more, why they also need 15% stake too  (which is 600 million Nem)



Money is used to pay for ecosystem dev, etc. Those stakes are only worth 400 BTC because of our efforts, so what is the problem?

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  


Did you read this? https://raw.githubusercontent.com/makoto1337/NEMlogos/master/handout/page3.jpg

1) Until V1: core dev gets 10%, which is less than 2% per person (on average). 5% goes to marketing/ecosystem (these are roughly the numbers as UP has laid out before, but remember that distributions of the 15% are up to the discretion of the core team)
2) After V1: 10% of NEM released over time, on average 10% every two months. This is for development and marketing for NEM.

What to do with unclaimed stakes is still being debated, but it is likely they will be used for paying for developing and marketing post-V1.

To be serious and promote NEM and build projects to support everyone, I think it is very reasonable to do the distribution like it is planned. I seriously doubt any of the core devs will dump their stakes. Why would we want to destroy what we created?

Makoto1337 who codes > Eadeqa who Huh. Suggestion to Eadega: make your own coin. Viva no envy movement  Smiley

Eadeqa's concerns are valid. You don't want a killswitch in place like bitcoin (http://www.loper-os.org/?p=1009) or NXT. I think our devs are really great people and not just great coders, though, so I hope people can have confidence in the community.

I think people will see your sincerity.  Smiley

NEM: TC2L3G2VREUAZI7SE5WJW7TM6B3DBBKL4DJCO6AA
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June 18, 2014, 04:06:18 AM
 #153

As a new anti-troll measure, I think we should start the NEM space program and launch nemellites into space.

Before this decade is over, I would like to launch NEM to da moon!

http://online.wsj.com/articles/amid-stratospheric-valuations-google-unearths-a-deal-with-skybox-1402864823

NeverEnoughMakoto XEM: NDMAKOTODH4OXMQCAGZWWPVLRUVOCLXXKOSKFUJA/
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June 18, 2014, 05:39:06 AM
 #154

Someone should really send Nem to space. This style: http://www.youtube.com/watch?v=_00eZtsuJ9M

It would be a good and fairly cheap advertising campaign. Nem first crypto currency in space.  Grin

Nem to space!

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June 18, 2014, 06:10:31 AM
 #155

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket  at current prices.

If developers want 400 BTC more, why they also need 15% stake too  (which is 600 million Nem)



Money is used to pay for ecosystem dev, etc. Those stakes are only worth 400 BTC because of our efforts, so what is the problem?

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  



Do you realize you're becoming CfAs annoying little sibling ?

Why is it so hard for you to understand that most of those funds will be spent FOR NEM. FOR THE COMMUNITY.
I would immagine that after V1 will depploy a commitee that decides on ideas that come from the entire community.

Make a better suggestions. You're only spreading FUD but in no way you are making any suggestions on how to handle it.

How on earth is one to make a definite statement about unclaimed stakes if they have no idea on how many those will be ?

Yeah, it's incredibly likely that devs will dump their coins after they've spent countless hours of devloping it for unappreciating people like yourself.

And NEM is not where it is because of the devs work ? Are you kidding me ? Are you freaking kidding me ?

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June 18, 2014, 06:25:05 AM
 #156

I think gimre stated the current plan fairly well:

Let me address some of the issues.

Regarding dev fund, as of today UF already spend 10.5BTC for UI/UX. And the estimate is another 10btc till Aug.
The dev fund is controlled by dev team, the accounts are in first post.


There are/were two main reasons for public auction:
  • get more stakeholder, to have 3000 stakes altogether,
  • get funds for future work (mainly for external expenses),
  • public auction would most likely be held AFTER BETA.

When it comes to me (and I think I express view of other devs too), I'm here for NEM, not for btc.
Whether public auction will be held (I think it should as it was promised), and how many stakes
will there be, is TBD. We will definitely take Eadeqa's fears and doubts into consideration.
(Give us few days time for some internal discussion)

Regarding 15%, keep in mind there is 400/100/100 split there, so it's not only dev but also promotion and ecosystem.

The 10% reserve, is supposed to go for FUTURE projects and it will be LOCKED (using NEM business rules).

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June 18, 2014, 06:37:14 AM
 #157



Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  



Eadeqa, I don't know what your agenda is, but it seems very suspicious.

Totally agree with formula1.


Very reasonable IMO. I am an early investor in Nxt and a stake holder in NEM and allow me to chime in my perspective here: Eadeqa's FUD is widely off the mark.

When Nxt was out of the genesis block there were a radom 8 people who held 5% of the total coin each. There were at least two other peope who sent the Btc twice or more and they had 5% of the total coin each too. Comparing to NEM current scheme in which the core dev. get about 2% for doing allmost all the works up to V1 blockchain (which is up to current Nxt blockchain specification as I understand).

I am questioning this Eadeqa's motive. He doesn't care that a random person holding 5% of Nxt but worry so much that a NEM core developer getting 2%? Isn't is suspicisous ? I would demand his explanation before considering any of his FUD request.

As a business owner and a technocrat myself, I believe in hardwork being rewarded. As a regular investor (in other businesses), I am always looking for the clues that the key people of that entities having proper incentives for doing a good job of running the show. As a NEM stakeholder, I think it is the best for NEM that the core dev. and other key peope in marketing and business having a sizeable chunk of NEM so that they have an interest in developing and building NEM for a longer term success.

Add: As a community, we have to treat our developers well. They are NEM founders and deserve to be treated as such.

Let me put this straight: since you are so concerned about your investment but not at all about your contribution, would you like a refunding?

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June 18, 2014, 06:52:19 AM
 #158

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  


I've already tried to reply, not sure if you've seen it.

Let me address some of the issues.

Regarding dev fund, as of today UF already spend 10.5BTC for UI/UX. And the estimate is another 10btc till Aug.
The dev fund is controlled by dev team, the accounts are in first post.


There are/were two main reasons for public auction:
  • get more stakeholder, to have 3000 stakes altogether,
  • get funds for future work (mainly for external expenses),
  • public auction would most likely be held AFTER BETA.

When it comes to me (and I think I express view of other devs too), I'm here for NEM, not for btc.
Whether public auction will be held (I think it should as it was promised), and how many stakes
will there be, is TBD. We will definitely take Eadeqa's fears and doubts into consideration.
(Give us few days time for some internal discussion)

Regarding 15%, keep in mind there is 400/100/100 split there, so it's not only dev but also promotion and ecosystem.

The 10% reserve, is supposed to go for FUTURE projects and it will be LOCKED (using NEM business rules).

That should answer your point 1) and 2)
Regarding 4) Unclaimed stakes will most likely become community managed fund (but we'll probably give people 2 months after launch to claim them)

Regarding 3) As I've written above, I'm not here for BTC, there's at least one good reason to hold public auction:
keep in mind most of the sellers on NXT AE are probably socks, public auction would lower the prices (which is actually good, as there's a chance we would get REAL supporters on board not socks)

If you remember some initial numbers regarding stakeholders "BTT age", I estimate that we might still have 30% of socks.

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June 18, 2014, 06:55:53 AM
 #159


Eadeqa, I don't know what your agenda is, but it seems very suspicious.


My points are pretty clear,. What exactly do you not understand? We have 25% of stakes controlled by a few people known as "developers" and co. Then makoto1337 has publicly stated (see above) that all unclaimed coins will also go to developer's fund TOO. Nxt was launched just 2 months after IPO and 25% of people never came back to claim their coins. Given much longer delay, this number could be even higher, but lets assume it's 25%

25% + 25% = 50%
 
Half the coins will be in control of very few insiders for "development" purposes of course.

Rest of 3000 stakeholder will have to play with 50%, but amazingly,  the guys  also intend to sell another 150 stakes from that  50% as auction  for more money.

I don't think there have ever been any coin launched (except ripple and a few country coins) with so much centralized control


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June 18, 2014, 07:03:54 AM
 #160


Eadeqa, I don't know what your agenda is, but it seems very suspicious.


My points are pretty clear,. What exactly do you not understand? We have 25% of stakes controlled by a few people known as "developers" and co. Then makoto1337 has publicly stated (see above) that all unclaimed coins will also go to developer's fund TOO. Nxt was launched just 2 months after IPO and 25% of people never came back to claim their funds. Given much larger delay, this number could be even higher, but lets assume it's 25%

25% + 25% = 50%
 
Half the coins will be in control of very few insiders for "development" purposes of course.

Rest of 3000 stakeholder will have to play with 50%, but amazingly,  the guys  also intend to sell another 150 stakes from that  50% as auction  for more money.

I don't think there have ever been any coin launched (except ripple and a few country coins) with so much centralized control

What to do with unclaimed coins has not yet been decided. One proposal from a few weeks ago that UP made internally was that we use it for trying to get some full-time devs, but nothing is decided completely.

If the community has any specific proposals, please post them here or on trello, along with an argument for, pros, and cons for doing it the way you propose. That would help us all to reach consensus.

NeverEnoughMakoto XEM: NDMAKOTODH4OXMQCAGZWWPVLRUVOCLXXKOSKFUJA/
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