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

[Eadeqa]

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.

Why not just distribute the coins to all stakeholders equally?

There is plenty of coins left for development -- 10% is 400 million Nem plus all the BTC you will have with the auction and first  IPO?

[1714049316]

1714049316

[1714049316]

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[KLONE::Vader]

Then makoto1337 has publicly stated (see above) that all unclaimed coins will also go to developer's fund funds.

wow, how can IPO coins mutate to Dev coins?? Is this true? Should be droped to Stakeholders.

[gimre]

Then makoto1337 has publicly stated (see above) that all unclaimed coins will also go to developer's fund funds.

wow, how can IPO coins mutate to Dev coins?? Is this true? Should be droped to Stakeholders.

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)

[makoto1337]

Then makoto1337 has publicly stated (see above) that all unclaimed coins will also go to developer's fund funds.

wow, how can IPO coins mutate to Dev coins?? Is this true? Should be droped to Stakeholders.

There was never any IPO. Also, what to do with unclaimed coins has not yet been decided.

You guys seem to be confusing unclaimed coins post-V1 launch, with the refunded stakes that are planned to be auctioned off. It is hard to keep track of what is being talked about...

Check out what is written here, in order to get an idea of what the current plan is.

https://raw.githubusercontent.com/makoto1337/NEMlogos/master/page1.jpg
https://raw.githubusercontent.com/makoto1337/NEMlogos/master/page3.jpg

Some specifics on how to handle unclaimed stakes or how to use the dev fund have not all been completely decided, so if people have specific ideas, follow this format:

Ex.
Proposal: Use unclaimed stakes for a NEM space program.
Pros: Even more amazing than a NASCAR car! Expanding to space will help create a DECENTRALIZED community.
Cons: Expensive?

[makoto1337]

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.

Why not just distribute the coins to all stakeholders equally?

There is plenty of coins left for development -- 10% is 400 million Nem plus all the BTC you will have with the auction and first  IPO?

Okay, I will help you out.

Proposal 1: distribute refunded stakes equally to all stakeholders (this has to be original stakeholders because it seems to complicated to do this with NXT assets I think?)
Pros: Easy to understand and all the original stakeholders benefit, not just a few (this is a good point!).
Cons: Doesn't allow new people to enter the community, sockpuppets will also benefit, and there will be less funding for pay for promotion and development, which will also hurt everyone.

Any other arguments that could be added?
Other proposals?

[jabo38]

Letter to all NEM stakeholders

Dear Nemsters,
 
As you may or may not already know, there have been some changes to the NEM team resulting in a lot of confusion on the Bitcointalk forum.
 
UtopianFuture has left the team, in good faith, and there has subsequently been a reorganization to reflect his departure.meg
 
UtopianFuture had been instrumental in organizing this project, but rest assured that the core development team is still intact. UtopianFuture's main role was coordination, providing direction and management of the voluntary association that is NEM. He was never involved in the coding. Hence, development-wise, the project is not impacted.
 
NEM is based upon the principle of decentralization, such that no single person is indispensable. Since UtopianFuture left, numerous volunteers have  come forward and offered their help. We are in fact honored to know that there are many of you out there who share the same vision as the core development team of creating a new economic movement. We are now stronger than ever and have recruited some of these volunteers to the team to push our ideals forward more aggressively than ever before. Yes, we have since regrouped and are soldiering on to ensure that this project is successful!
 
With the reorganisation, we have decided that there should be an entirely separate group looking after the promotion of NEM. We have now created a new Marketing Board to spearhead organizing the great NEM community and to spur our movement to greater heights. To say the least, this event has actually made us into a much stronger group.
 
As a result of the events that have transpired, there have been many unsubstantiated speculations and postulations about what happened. Most of these statements have been emotionally charged and were without any factual basis. These misleading claims have left the community confused.
 
We would like to take this opportunity to assure you that most of these claims are not true and that it is business as usual for the core team; you should not be influenced at all by some of the characters in the forum that purport otherwise.
 
The last few months have been rather hectic and to complete a project of this size and nature requires a lot of careful planning and design. It has not been easy, but we believe with the able-bodied team that we have, we shall be able to meet our targets.
 
In the meantime, and in order to allay the confusion, we have included links to the only official NEM threads on bitcointalk. We have also included the link to our official NEM websites and forum. If you have any questions regarding the incidents that have caused this confusion, you are most welcome to raise those questions in the forum threads or contact one of the core team members directly.
 
At the same breath, we would like to advise that for those of you who are eligible for the NEM coins, please take care of your BTT accounts. Please do not spam, post addresses or expose your transaction TX-IDs such that your accounts get banned. Your account is key to your claim later.

Due to the incidents in the past, it was decided that a moderated thread would also be created to run alongside the non-moderated thread. Please read xtester's post about why this is necessary here: https://bitcointalk.org/index.php?topic=654845.msg7350705#msg7350705

Official Links:

• Main moderated NEM thread: https://bitcointalk.org/index.php?topic=654845.0
• Main non-moderated NEM thread: https://bitcointalk.org/index.php?topic=650274.0
• Stake Request/Info Thread: https://bitcointalk.org/index.php?topic=650505
• Account/Stake Complaint Thread: https://bitcointalk.org/index.php?topic=650500

Materials:

Project Information Memorandum:

• https://github.com/makoto1337/NEMlogos/raw/master/handout/NEMhandout.pdf

Websites

• https://twitter.com/nemcoin
• https://www.facebook.com/ourNEM
• http://www.reddit.com/r/nem/
• https://trello.com/b/GEWEPSZJ/nem-promotion
• https://trello.com/b/9psFZ0aQ/nem-ecosystem

If you cannot find the information you need in the links above please do not hesitate to post any question you may have on the relevant NEM thread. A special thanks goes to rockethead, kodtycoon and makoto1337 for putting this together on such short notice. This letter will now be sent to all NEM stakeholders via PM.
 
Thank you very much for your attention.
 
NEM Marketing Team

Thank you for the update

[Eadeqa]

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.

Why not just distribute the coins to all stakeholders equally?

There is plenty of coins left for development -- 10% is 400 million Nem plus all the BTC you will have with the auction and first  IPO?

Okay, I will help you out.

Proposal 1: distribute refunded stakes equally to all stakeholders (this has to be original stakeholders because it seems to complicated to do this with NXT assets I think?)

It's not complicated with Nxt asset. One token would  still be equal to 1 stake, just number of nem in one stake would get larger (depending on unclaimed stakes). It's simply a question of arithmetic and should not be complicated.

Lets say the launch day is August 15th

Everyone will have a chance to create a nem account and claim a stake till August 14. Those who don't would be considered unclaimed stakes. Divide 75% of 4000 billion and distribute it equally among all stakeholder who claimed the stake, including 1 token for 1 stake on Nxt asset

Why do you think 10% plus all the BTC isn't enough for future development? Nxt started with 21 BTC and unclaimed nxt equaled to 10 million ( which is only 1% of total nxt) . There were no development stake.
Nem will have 200 times more BTC (after the auction)  and 10 times more nem. I would say that's plenty.



 

[sevenyears26]

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.

Why not just distribute the coins to all stakeholders equally?

There is plenty of coins left for development -- 10% is 400 million Nem plus all the BTC you will have with the auction and first  IPO?

It sounds like you really just want more coins. Don't beat around the bush.

[Mrrr]

A NEM cubesat in low orbit would be around 80.000$. NASA does these things for free sometimes if it serves a purpose though.

[Eadeqa]

It sounds like you really just want more coins. Don't beat around the bush.

As opposed to 8 insiders who want to control 50% of the coins?  And that's the great "fair distribution"?

[gimre]

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.

It seems like you deliberatly ignore what I'm saying.

Regarding 4) Unclaimed stakes will most likely become community managed fund (but we'll probably give people 2 months after launch to claim them)

Some additional information

1) as makoto said it's 10% not 15%, 5% is promotion/ecosystem
2) both developer accounts and promotion/eco will be GUARDED by Nem Business Rules, that means, that NEMs will be released SLOWLY during long period of time, so devs simply WON'T be able to "dump it all"
3) 10% post v1 development reserve will be LOCKED using Nem Business Rules, and NO ONE will be able to TOUCH those funds before V1 completion

[patmast3r]

It sounds like you really just want more coins. Don't beat around the bush.

As oppose to 8 insiders who want to control 50% of the coins?  And that's the great "the fair distribution" of the coin?

Why not rename Nem to aurora if that happens?

You are calculating the 50% with the assumption that 25% will unclaimed stakes. That nothing but an assumption. NXT had that many so what ?
We noticed your concern and we'll think about how best to proceed. You can stop posting FUD now.

[bitwhizz]

It sounds like you really just want more coins. Don't beat around the bush.

As opposed to 8 insiders who want to control 50% of the coins?  And that's the great "fair distribution"?

Better than NXT

[Eadeqa]

Better than NXT

Nxt was pretty simple and uncomplicated. Open & public IPO and every single Nxt was distributed to all stakeholders who put BTC with zero development stake.

[bitwhizz]

Better than NXT

Nxt was pretty simple and uncomplicated. Open & public IPO and every single Nxt was distributed to all stakeholders who put BTC with zero development stake.

yep, pretty sure 5 % share went to developers involved who basically put in 1 bitcoin and recieved 50 million coins, who then decided to arubtly  close off the auction
whereas only 2 % is going to developers, and the rest has been distributed
if you saying the NXT distribution is fairer, you are just trolling

[Eadeqa]

You are calculating the 50% with the assumption that 25% will unclaimed stakes. That nothing but an assumption. NXT had that many so what ?

How  many people out of 2800 have claimed token on Nxt AE so far?  I don't think you have reached even close to 1000 after almost a month.  I know some don't want AE tokens, but given you couldn't even reach 1000 says a lot about what is going to happen after the launch

What if the number is even greater than 25?

We should then officially rename Nem to ripple 2.0

[Eadeqa]

yep, pretty sure 5 % share went to developers involved who basically put in 1 bitcoin and recieved 50 million coins,

Everyone was free to deposit 1 BTC. Rules were the same for everyone. (even though there is no evidence BXNext put 1 BTC).

who then decided to arubtly  close off the auction
whereas only 2 % is going to developers, and the rest has been distributed

The IPO was open for 2 fucking month -- a lot longer than Nem IPO.

[makoto1337]

Guys, this isn't the NXT thread, so no reason to compare ourselves to them.

We are trying to build a NEW economy here  

Also, I should mention that people don't want AE tokens because they don't want to dump their stakes.

[bitwhizz]

yep, pretty sure 5 % share went to developers involved who basically put in 1 bitcoin and recieved 50 million coins,

Everyone was free to deposit 1 BTC. Rules were the same for everyone. (even though there is no evidence BXNext put 1 BTC).

who then decided to arubtly  close off the auction
whereas only 2 % is going to developers, and the rest has been distributed

The IPO was open for 2 fucking month -- a lot longer than Nem IPO.

Yep, BC next writes the code, and decides not to put in 1 + (5%) bitcoin in his creation, after making a claim that he would eat his hat if the coins wasn;t worth alot of money within 6 months
how do we know that he doesn;t own 30 % +?
we don't
this is at least transparent

[Eadeqa]

Yep, BC next writes the code, and decides not to put in 1 + (5%) bitcoin in his creation, after making a claim that he would eat his hat if the coins wasn;t worth alot of money within 6 months
how do we know that he doesn;t own 30 % +?
we don't
this is at least transparent

How do you know Utopian doesn't own 1500 of 2800 stakes? Arguments without evidence are not arguments.  There is no evidence that BCNext put 1 BTC, but even if he did,so what? Everyone was free to put 1 BTC. There were no special rules for the developer. Everyone was free to use sock puppets (if there are any, even though sock puppets for IPO was not a trend back then).  Everything was distributed equally to stakeholders who put BTC, with zero development stake, and IPO was open for 2 months. Everything was transparent as anyone can check original thread, and the nxt blockchain and the blochchain.info hashes to confirm everything.