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

[rockethead]

If anyone keeps track of the progress and release of crypto 2.0 coins, you will notice that there are several promising projects that have been raising a lot of funds, among which are MaidSafe and Ethereum. Unlike these other projects, NEM was created without a large amount of initial funding, giving away most of the stakes for free or for trivial amounts of money. This is good, because it sets us apart from other coins, as a movement marked by equality of opportunity and solidarity without envy.

However, it is also important to realize that in order for NEM to reach its full potential, the community needs to come together and create a vibrant ecosystem that can meet the future needs of our users.

Towards this end, we are planning to prepare to work towards creating key projects required for a comprehensive ecosystem, with an emphasis on mobile apps and a fast, secure exchange, that will fully utilize our upcoming P2P asset exchange. To build this infrastructure, we need to raise funds to compete with the likes of MaidSafe and Ethereum.

Rather than centralize more power with the dev team, we are considering promoting a separate entity that would create and maintain several key ecosystem projects. To create this entity, we should have serious funding to hire full time programmers to work in parallel with the core dev team. This would help us to hit the ground at full speed, right at V1 launch.

If you have any ideas for good ways to raise significant funds (hundreds of BTC), please post them here. I am interested in what kind of thoughts and ideas people have.

Weren´t there allready development fund for operations like that ? If everything goes as a planned one stake should be at least 2k-5k, so why you just use those funds to pay salaries etc. ?

According to the draft development contract, that is not supposed to be touched until after V1. Anyway, those funds are pittance funds. What can 100BTC do? Not much.

We need real resources to fund such an important development.

10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem

are you saying that 25% will be just 100btc and the market for NEM will plummet to something like 250 000 dollars

Even with marketcap of 5 000 000 million, development fund should be considered significant in any way!

How does one get hold of those funds? Coins are not released yet and there is no NEM coins in circulation. Plus the NEM stakes are for the community to claim, not for development. To me it was an oversight and everything is snookered here.

Further, the funds were meant to fund the current core team for their work until V1. Post V1, there will be some 10% left. But that is too late. We cannot be serially acting on roll outs. If there is a way to do things parallel, we should look at that as an alternative.

Edit: The ~100 BTCs (Mix BTC and NXt coins) were raised from the 2845 NEM stakes earlier.

[ARGpentem]

If anyone keeps track of the progress and release of crypto 2.0 coins, you will notice that there are several promising projects that have been raising a lot of funds, among which are MaidSafe and Ethereum. Unlike these other projects, NEM was created without a large amount of initial funding, giving away most of the stakes for free or for trivial amounts of money. This is good, because it sets us apart from other coins, as a movement marked by equality of opportunity and solidarity without envy.

However, it is also important to realize that in order for NEM to reach its full potential, the community needs to come together and create a vibrant ecosystem that can meet the future needs of our users.

Towards this end, we are planning to prepare to work towards creating key projects required for a comprehensive ecosystem, with an emphasis on mobile apps and a fast, secure exchange, that will fully utilize our upcoming P2P asset exchange. To build this infrastructure, we need to raise funds to compete with the likes of MaidSafe and Ethereum.

Rather than centralize more power with the dev team, we are considering promoting a separate entity that would create and maintain several key ecosystem projects. To create this entity, we should have serious funding to hire full time programmers to work in parallel with the core dev team. This would help us to hit the ground at full speed, right at V1 launch.

If you have any ideas for good ways to raise significant funds (hundreds of BTC), please post them here. I am interested in what kind of thoughts and ideas people have.

Weren´t there allready development fund for operations like that ? If everything goes as a planned one stake should be at least 2k-5k, so why you just use those funds to pay salaries etc. ?

According to the draft development contract, that is not supposed to be touched until after V1. Anyway, those funds are pittance funds. What can 100BTC do? Not much.

We need real resources to fund such an important development.

10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem

are you saying that 25% will be just 100btc and the market for NEM will plummet to something like 250 000 dollars

Even with marketcap of 5 000 000 million, development fund should be considered significant in any way!

How does one get hold of those funds? Coins are not released yet and there is no NEM coins in circulation. Plus the NEM stakes are for the community to claim, not for development. To me it was an oversight and everything is snookered here.

Further, the funds were meant to fund the current core team for their work until V1. Post V1, there will be some 10% left. But that is too late. We cannot be serially acting on roll outs. If there is a way to do things parallel, we should look at that as an alternative.

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

[Simakki]

If anyone keeps track of the progress and release of crypto 2.0 coins, you will notice that there are several promising projects that have been raising a lot of funds, among which are MaidSafe and Ethereum. Unlike these other projects, NEM was created without a large amount of initial funding, giving away most of the stakes for free or for trivial amounts of money. This is good, because it sets us apart from other coins, as a movement marked by equality of opportunity and solidarity without envy.

However, it is also important to realize that in order for NEM to reach its full potential, the community needs to come together and create a vibrant ecosystem that can meet the future needs of our users.

Towards this end, we are planning to prepare to work towards creating key projects required for a comprehensive ecosystem, with an emphasis on mobile apps and a fast, secure exchange, that will fully utilize our upcoming P2P asset exchange. To build this infrastructure, we need to raise funds to compete with the likes of MaidSafe and Ethereum.

Rather than centralize more power with the dev team, we are considering promoting a separate entity that would create and maintain several key ecosystem projects. To create this entity, we should have serious funding to hire full time programmers to work in parallel with the core dev team. This would help us to hit the ground at full speed, right at V1 launch.

If you have any ideas for good ways to raise significant funds (hundreds of BTC), please post them here. I am interested in what kind of thoughts and ideas people have.

Weren´t there allready development fund for operations like that ? If everything goes as a planned one stake should be at least 2k-5k, so why you just use those funds to pay salaries etc. ?

According to the draft development contract, that is not supposed to be touched until after V1. Anyway, those funds are pittance funds. What can 100BTC do? Not much.

We need real resources to fund such an important development.

10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem

are you saying that 25% will be just 100btc and the market for NEM will plummet to something like 250 000 dollars

Even with marketcap of 5 000 000 million, development fund should be considered significant in any way!

How does one get hold of those funds? Coins are not released yet and there is no NEM coins in circulation. Plus the NEM stakes are for the community to claim, not for development. To me it was an oversight and everything is snookered here.

Further, the funds were meant to fund the current core team for their work until V1. Post V1, there will be some 10% left. But that is too late. We cannot be serially acting on roll outs. If there is a way to do things parallel, we should look at that as an alternative.

Hmm but could something like crowdsale be harmful original stakeholders and the NEM itself, if the parallel coin get all the hype. If you remember situation with maidsafe and mastercoin...

[ARGpentem]

If anyone keeps track of the progress and release of crypto 2.0 coins, you will notice that there are several promising projects that have been raising a lot of funds, among which are MaidSafe and Ethereum. Unlike these other projects, NEM was created without a large amount of initial funding, giving away most of the stakes for free or for trivial amounts of money. This is good, because it sets us apart from other coins, as a movement marked by equality of opportunity and solidarity without envy.

However, it is also important to realize that in order for NEM to reach its full potential, the community needs to come together and create a vibrant ecosystem that can meet the future needs of our users.

Towards this end, we are planning to prepare to work towards creating key projects required for a comprehensive ecosystem, with an emphasis on mobile apps and a fast, secure exchange, that will fully utilize our upcoming P2P asset exchange. To build this infrastructure, we need to raise funds to compete with the likes of MaidSafe and Ethereum.

Rather than centralize more power with the dev team, we are considering promoting a separate entity that would create and maintain several key ecosystem projects. To create this entity, we should have serious funding to hire full time programmers to work in parallel with the core dev team. This would help us to hit the ground at full speed, right at V1 launch.

If you have any ideas for good ways to raise significant funds (hundreds of BTC), please post them here. I am interested in what kind of thoughts and ideas people have.

Weren´t there allready development fund for operations like that ? If everything goes as a planned one stake should be at least 2k-5k, so why you just use those funds to pay salaries etc. ?

According to the draft development contract, that is not supposed to be touched until after V1. Anyway, those funds are pittance funds. What can 100BTC do? Not much.

We need real resources to fund such an important development.

For example, Storj is trying to raise 9800 BTC and have already raised 590: http://storj.io/crowdsale.html
With funds like that, it should be possible to really do some incredible stuff that will change world economies.

I like the idea of crowd-selling something that is intrinsically value. I think that would give our movement a good name if we can raise funds while also giving people something worthwhile.

9800 BTC is not going to change anything if you don't have a good idea and execution. On the other hand, NXT raised a pittance of 21 BTC and see where it is now.

[patmast3r]

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

We can - in fact we are.

But externals especially companies won't. Since the support that we've seen so far has been underwhelming we will have no choice but to "outsource" some things to contractors.

[rockethead]

If anyone keeps track of the progress and release of crypto 2.0 coins, you will notice that there are several promising projects that have been raising a lot of funds, among which are MaidSafe and Ethereum. Unlike these other projects, NEM was created without a large amount of initial funding, giving away most of the stakes for free or for trivial amounts of money. This is good, because it sets us apart from other coins, as a movement marked by equality of opportunity and solidarity without envy.

However, it is also important to realize that in order for NEM to reach its full potential, the community needs to come together and create a vibrant ecosystem that can meet the future needs of our users.

Towards this end, we are planning to prepare to work towards creating key projects required for a comprehensive ecosystem, with an emphasis on mobile apps and a fast, secure exchange, that will fully utilize our upcoming P2P asset exchange. To build this infrastructure, we need to raise funds to compete with the likes of MaidSafe and Ethereum.

Rather than centralize more power with the dev team, we are considering promoting a separate entity that would create and maintain several key ecosystem projects. To create this entity, we should have serious funding to hire full time programmers to work in parallel with the core dev team. This would help us to hit the ground at full speed, right at V1 launch.

If you have any ideas for good ways to raise significant funds (hundreds of BTC), please post them here. I am interested in what kind of thoughts and ideas people have.

Weren´t there allready development fund for operations like that ? If everything goes as a planned one stake should be at least 2k-5k, so why you just use those funds to pay salaries etc. ?

According to the draft development contract, that is not supposed to be touched until after V1. Anyway, those funds are pittance funds. What can 100BTC do? Not much.

We need real resources to fund such an important development.

10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem

are you saying that 25% will be just 100btc and the market for NEM will plummet to something like 250 000 dollars

Even with marketcap of 5 000 000 million, development fund should be considered significant in any way!

How does one get hold of those funds? Coins are not released yet and there is no NEM coins in circulation. Plus the NEM stakes are for the community to claim, not for development. To me it was an oversight and everything is snookered here.

Further, the funds were meant to fund the current core team for their work until V1. Post V1, there will be some 10% left. But that is too late. We cannot be serially acting on roll outs. If there is a way to do things parallel, we should look at that as an alternative.

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

If you look at the development contract, you will note that the current batch of developers will be rewarded for the time and effort they put in to get the ecosystem off the ground. There was no provision at all for spending parallel to this effort to make things happen faster. There is even no provision to engage professional marketing help. It was definitely an oversight.

Those stakes that you refer to as 5% is supposed to be allocated. But how does one get to it? Would anyone, i.e., a professional developer who is here for the money want to wait until this thing launches before he gets his pay? No one is certain about that.

Basically, there is no one who can make this decision other than the devs themselves. I think what @Makoto is driving at, instead of just staring at the jewels in the encased container, let's work on being an element in the ecosystem and start working on great things.

What is in that container is really up to the devs anyway with what they want to do with it post V1.

[ARGpentem]

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

We can - in fact we are. But externals especially companies won't. Since the support that we've seen so far has been underwhelming we will have no choice but to "outsource" some things to contractors.

You could set a bounty for the required works. I have some doubts on your ability to pick contractors. Typical example: interim logo selection. It is not uncommon to pick a wrong person for a job though. I do management and most of the time it is a very time consuming process to choose a right person for a job. That's why a bounty system is the best. It allows different candidates to sort themselves out for a the job and the winner is often the best fit candidate.

[Simakki]

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

We can - in fact we are. But externals especially companies won't. Since the support that we've seen so far has been underwhelming we will have no choice but to "outsource" some things to contractors.

You could set a bounty for the required works. I have some doubts on your ability to pick contractors. Typical example: interim logo selection. It is not uncommon to pick a wrong person for a job though. I do management and most of the time it is a very time consuming process to choose a right person for a job. That's why a bounty system is the best. It allows different candidates to sort themselves out for a the job and the winner is often the best fit candidate.

After official Launch it should be easier to attract more people to work with NEM, so i prefer bounties too.

[dandruff1138]

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

We can - in fact we are. But externals especially companies won't. Since the support that we've seen so far has been underwhelming we will have no choice but to "outsource" some things to contractors.

You could set a bounty for the required works. I have some doubts on your ability to pick contractors. Typical example: interim logo selection. It is not uncommon to pick a wrong person for a job though. I do management and most of the time it is a very time consuming process to choose a right person for a job. That's why a bounty system is the best. It allows different candidates to sort themselves out for a the job and the winner is often the best fit candidate.

After official Launch it should be easier to attract more people to work with NEM, so i prefer bounties too.

With the launch getting pushed back to October-ish, that puts development in a bind does it not?

[patmast3r]

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

We can - in fact we are. But externals especially companies won't. Since the support that we've seen so far has been underwhelming we will have no choice but to "outsource" some things to contractors.

You could set a bounty for the required works. I have some doubts on your ability to pick contractors. Typical example: interim logo selection. It is not uncommon to pick a wrong person for a job though. I do management and most of the time it is a very time consuming process to choose a right person for a job. That's why a bounty system is the best. It allows different candidates to sort themselves out for a the job and the winner is often the best fit candidate.

We didn't choose anyone for the interim logo. Makoto jumped up and did it.
Also picking Loi and Krysto (designer and front end dev for NCC) seems to have worked out quite alright.

[ARGpentem]

If anyone keeps track of the progress and release of crypto 2.0 coins, you will notice that there are several promising projects that have been raising a lot of funds, among which are MaidSafe and Ethereum. Unlike these other projects, NEM was created without a large amount of initial funding, giving away most of the stakes for free or for trivial amounts of money. This is good, because it sets us apart from other coins, as a movement marked by equality of opportunity and solidarity without envy.

However, it is also important to realize that in order for NEM to reach its full potential, the community needs to come together and create a vibrant ecosystem that can meet the future needs of our users.

Towards this end, we are planning to prepare to work towards creating key projects required for a comprehensive ecosystem, with an emphasis on mobile apps and a fast, secure exchange, that will fully utilize our upcoming P2P asset exchange. To build this infrastructure, we need to raise funds to compete with the likes of MaidSafe and Ethereum.

Rather than centralize more power with the dev team, we are considering promoting a separate entity that would create and maintain several key ecosystem projects. To create this entity, we should have serious funding to hire full time programmers to work in parallel with the core dev team. This would help us to hit the ground at full speed, right at V1 launch.

If you have any ideas for good ways to raise significant funds (hundreds of BTC), please post them here. I am interested in what kind of thoughts and ideas people have.

Weren´t there allready development fund for operations like that ? If everything goes as a planned one stake should be at least 2k-5k, so why you just use those funds to pay salaries etc. ?

According to the draft development contract, that is not supposed to be touched until after V1. Anyway, those funds are pittance funds. What can 100BTC do? Not much.

We need real resources to fund such an important development.

10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem

are you saying that 25% will be just 100btc and the market for NEM will plummet to something like 250 000 dollars

Even with marketcap of 5 000 000 million, development fund should be considered significant in any way!

How does one get hold of those funds? Coins are not released yet and there is no NEM coins in circulation. Plus the NEM stakes are for the community to claim, not for development. To me it was an oversight and everything is snookered here.

Further, the funds were meant to fund the current core team for their work until V1. Post V1, there will be some 10% left. But that is too late. We cannot be serially acting on roll outs. If there is a way to do things parallel, we should look at that as an alternative.

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

If you look at the development contract, you will note that the current batch of developers will be rewarded for the time and effort they put in to get the ecosystem off the ground. There was no provision at all for spending parallel to this effort to make things happen faster. There is even no provision to engage professional marketing help. It was definitely an oversight.

Those stakes that you refer to as 5% is supposed to be allocated. But how does one get to it? Would anyone, i.e., a professional developer who is here for the money want to wait until this thing launches before he gets his pay? No one is certain about that.

Basically, there is no one who can make this decision other than the devs themselves. I think what @Makoto is driving at, instead of just staring at the jewels in the encased container, let's work on being an element in the ecosystem and start working on great things.

What is in that container is really up to the devs anyway with what they want to do with it post V1.

Launch the coin and API sooner rather than later. You can unlock the fund and other potentials that way. How can you raise fund otherwise if you have nothing to show yet ? I test the alpha and it seems stable enough. One the outside, it looks better than most other coin launch.

[rockethead]

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

We can - in fact we are. But externals especially companies won't. Since the support that we've seen so far has been underwhelming we will have no choice but to "outsource" some things to contractors.

You could set a bounty for the required works. I have some doubts on your ability to pick contractors. Typical example: interim logo selection. It is not uncommon to pick a wrong person for a job though. I do management and most of the time it is a very time consuming process to choose a right person for a job. That's why a bounty system is the best. It allows different candidates to sort themselves out for a the job and the winner is often the best fit candidate.

After official Launch it should be easier to attract more people to work with NEM, so i prefer bounties too.

With the launch getting pushed back to October-ish, that puts development in a bind does it not?

Yes, it may be a bind there. We need to push on with parallel developments that are complementary to the base ecosystem. Not develop it after launch. Nxt had that luxury but with many competition setting in, NEM does not have this luxury of time.

It has to be some "centralized" movement totally distinct from what NEM as an ecosystem is doing. Something like what Nxt eco players are doing, some with profit intentions, some with ecosystem building intentions, etc. But we will need to do it in compressed time. That is the difference.

[searkt]

If anyone keeps track of the progress and release of crypto 2.0 coins, you will notice that there are several promising projects that have been raising a lot of funds, among which are MaidSafe and Ethereum. Unlike these other projects, NEM was created without a large amount of initial funding, giving away most of the stakes for free or for trivial amounts of money. This is good, because it sets us apart from other coins, as a movement marked by equality of opportunity and solidarity without envy.

However, it is also important to realize that in order for NEM to reach its full potential, the community needs to come together and create a vibrant ecosystem that can meet the future needs of our users.

Towards this end, we are planning to prepare to work towards creating key projects required for a comprehensive ecosystem, with an emphasis on mobile apps and a fast, secure exchange, that will fully utilize our upcoming P2P asset exchange. To build this infrastructure, we need to raise funds to compete with the likes of MaidSafe and Ethereum.

Rather than centralize more power with the dev team, we are considering promoting a separate entity that would create and maintain several key ecosystem projects. To create this entity, we should have serious funding to hire full time programmers to work in parallel with the core dev team. This would help us to hit the ground at full speed, right at V1 launch.

If you have any ideas for good ways to raise significant funds (hundreds of BTC), please post them here. I am interested in what kind of thoughts and ideas people have.

Weren´t there allready development fund for operations like that ? If everything goes as a planned one stake should be at least 2k-5k, so why you just use those funds to pay salaries etc. ?

According to the draft development contract, that is not supposed to be touched until after V1. Anyway, those funds are pittance funds. What can 100BTC do? Not much.

We need real resources to fund such an important development.

10% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
10% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
5% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem

are you saying that 25% will be just 100btc and the market for NEM will plummet to something like 250 000 dollars

Even with marketcap of 5 000 000 million, development fund should be considered significant in any way!

How does one get hold of those funds? Coins are not released yet and there is no NEM coins in circulation. Plus the NEM stakes are for the community to claim, not for development. To me it was an oversight and everything is snookered here.

Further, the funds were meant to fund the current core team for their work until V1. Post V1, there will be some 10% left. But that is too late. We cannot be serially acting on roll outs. If there is a way to do things parallel, we should look at that as an alternative.

Can't you work for a stake ? I understand that there is a 5% =200 stakes reserved for ecosystem development. It is worth 200.000 $ at least.

If you look at the development contract, you will note that the current batch of developers will be rewarded for the time and effort they put in to get the ecosystem off the ground. There was no provision at all for spending parallel to this effort to make things happen faster. There is even no provision to engage professional marketing help. It was definitely an oversight.

Those stakes that you refer to as 5% is supposed to be allocated. But how does one get to it? Would anyone, i.e., a professional developer who is here for the money want to wait until this thing launches before he gets his pay? No one is certain about that.

Basically, there is no one who can make this decision other than the devs themselves. I think what @Makoto is driving at, instead of just staring at the jewels in the encased container, let's work on being an element in the ecosystem and start working on great things.

What is in that container is really up to the devs anyway with what they want to do with it post V1.

Launch the coin and API sooner rather than later. You can unlock the fund and other potentials that way. How can you raise fund otherwise if you have nothing to show yet ? I test the alpha and it seems stable enough. One the outside, it looks better than most other coin launch.

Truely, Please go through step by step.

[searkt]

For example, Storj is trying to raise 9800 BTC and have already raised 590: http://storj.io/crowdsale.html
With funds like that, it should be possible to really do some incredible stuff that will change world economies.

I like the idea of crowd-selling something that is intrinsically value. I think that would give our movement a good name if we can raise funds while also giving people something worthwhile.

How about Mastercoin, they raised 6000+BTC

What now?

[rockethead]

Launch the coin and API sooner rather than later. You can unlock the fund and other potentials that way. How can you raise fund otherwise if you have nothing to show yet ? I test the alpha and it seems stable enough. One the outside, it looks better than most other coin launch.

Truely, Please go through step by step.

I agree. I wouldn't do anything that may not have recourse. I'd rather start something complementary to the ecosystem, like the mobile wallet and solutions. At least if I fail there, it would not impact the ecosystem. The ecosystem must be right first time up.

[Simakki]

For example, Storj is trying to raise 9800 BTC and have already raised 590: http://storj.io/crowdsale.html
With funds like that, it should be possible to really do some incredible stuff that will change world economies.

I like the idea of crowd-selling something that is intrinsically value. I think that would give our movement a good name if we can raise funds while also giving people something worthwhile.

How about Mastercoin, they raised 6000+BTC

What now?

Yep, those fund risings seems to have many similarities with pyramid schemes and ponzis

[rockethead]

For example, Storj is trying to raise 9800 BTC and have already raised 590: http://storj.io/crowdsale.html
With funds like that, it should be possible to really do some incredible stuff that will change world economies.

I like the idea of crowd-selling something that is intrinsically value. I think that would give our movement a good name if we can raise funds while also giving people something worthwhile.

How about Mastercoin, they raised 6000+BTC

What now?

Mastercoin raised 6K+ BTC for the development of Mastercoin. NEM raised only 100BTC for its development. NEM has gone far and it shows that despite all these difficulties with hands tied, NEM has proven to be resilient.

In addition, Mastercoin had some problems technically with their design. Riding on an existing block chain wasn't a good solution. NEM is based on a clean sheet design. Hence there is less constraints and better control.

But I guess that is not the point. I believe we don't need 6K BTC coins. Even 1/4 of that will take NEM to a new plane.

[rockethead]

For example, Storj is trying to raise 9800 BTC and have already raised 590: http://storj.io/crowdsale.html
With funds like that, it should be possible to really do some incredible stuff that will change world economies.

I like the idea of crowd-selling something that is intrinsically value. I think that would give our movement a good name if we can raise funds while also giving people something worthwhile.

How about Mastercoin, they raised 6000+BTC

What now?

Yep, those fund risings seems to have many similarities with pyramid schemes and ponzis

And that's what I meant that the crowdsale should have something tangible and have some intrinsic value.

[atoni]

What will you do with money from auction of stakes?

[Primitive]

how low will NEMstakes go??  they're gettin beat up pretty good on AE.