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

[mrvegad]

Current plan that hasn't been decided yet is to give devs 0% of unclaimed stakes. Instead, those stakes would be used to create a licensed investment fund that will pay dividends to everyone in the nemesis block. The fund would be a venture capital fund that gives money to companies using NEM, the same as any other venture capital fund would work.

And what about the SEC? They don't like money going to anonymous people.

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[rockethead]

using unclaimed stakes devalues the rest of the coins. I am all for taking them permanently off the table (burning) to a) give a good signal to cryptoworld and b) make sure the nem i am holding are getting off the ground.

It's supply and demand that makes the price.

Higher supply + same or even lower demand = lower price

there's nothing to gain from potentially quenching demand by making supply higher (!)

Increasing supply doesn't necessary mean that it will mathematically lead to a dilution of capitalization. On the contrary, if you research well enough, increasing supply adds to the capitalization. It follows an inverse proportionality function for low valued coins which most are with the exception of BTC and the distant LTC.

For example there is little difference between a $0.002 and $0.003 coin although in relative comparison one is 50% more. However, the capitalization may be $16m for one (with 8B coins) and $12m for the other (with 4B coins).

This is conjecture but has precedence if you look at past history of coins being floated, i.e., high coin circulation tend to have higher capitalization when compared to coins of about the same class in coin value.

[V500]

Current plan that hasn't been decided yet is to give devs 0% of unclaimed stakes. Instead, those stakes would be used to create a licensed investment fund that will pay dividends to everyone in the nemesis block. The fund would be a venture capital fund that gives money to companies using NEM, the same as any other venture capital fund would work.

i would be for that fund to be held in not-nem
Depending how that fund works that would be more or less important.
I care a great deal about profits (like everyone else) and i don't hold coins that i see have unpredictable markets or continue to be diluted so my concern about such a fund would be how the fund works and if it would have to touch the nem/btc and nem/fiat markets a lot to opperate. I am against anything that would take liquidity from the markets.
That VC-fund needs to opperate very transparent and if it wants to draw money from the markets it needs to announce in advance. To not cause negative reactions in the market i'd suggest liquidating slowly at a reasonably small rate in a transparent way. In any case the fund will lower the price and marketcap of NEM for the short/midterm or in the time it liquidates. If you want the fund i think people need to directly see how that fund raises the marketcap of NEM in the long run.
The concern is:
If the fund is large enough and would cash out on the market random amounts at random times that would be turning off a great deal. If you want such a fund i'd suggest to set up a plan of how to liquidate the nem to btc (for example liquidating a maximum of 1% or 2% of the fund each month to not stress the market too much)  and actually holding the fund in not-nem (btc or usd) so we would have a better market and more profits once that is through.
The outcome for marketcap and price will be similar to anyone else selling large amounts of coins.
VC-fund sounds all great and visionary, but hey: the investors will pay it one way or another. Money isn't created from thin air. No, i won't be happy to have a VC-fund for the greater good dump on me.  

Don't put burdens on the market that aren't absolutely necessary to not take profits from people. The more potential for profit there is in the coin the higher the demand will be.

Just some conclusions drawn from past expiriences.
Try to keep supply as low as possible to achieve the best price. The market is not there to accomodate constant charities especially not a young market and small cap.
Profits first. Everything else is second order. When profits are secured and everyone made some people will be more open to fancy ideas that put extra pressure on the markets. In the interest of a successful project try to keep sellpressure/supply on the markets as predictable and as low as possible especially during the first months.

[rockethead]

so you smart guys made sure everyone who doesn't pay attention can't claim their stake, you keep up to 40% of coins 'for developement' and thus make the coin trustbased like ripple? Are you serious? I am gonna dump this shit ASAP.

If you can't destroy unclaimed stakes you're just a joke.
I say: either lift timelimit and let everyone claim as long as  they want OR destroy the unclaimed stakes but keeping up to 40% of supply in very few hands makes this coin trust-based and for that reason dramatically lowers the outlooks of it. No matter how shiny your shit is, it can't obscure what greedy bastards you are. You don't care about NEM or the project. Everyone is focused on personal gains. No other way to explain this redemption-process. Period.

Destroy stakes, let people claim longer or be called greedy pigs and lower outlooks of nem-project dramatically - pretty simple, like it or not.

Appears to me your minds made up - after all, we're already greedy bastards in your book.

lol. I didn't make up my mind. I just saw up to 40% unclaimed right now and then the other person saying 'this will be for promotion and developement'. I got nothing against nem or anyone. I am just straight up about stuff and say what i think.

If you fuck up distribution like that you take away a lot of its value, just sayin'. Maybe this has been overlooked. Better don't take up to 40% of supply for "developement and promo" if you don't want to destoy its public image.

I actually think you make a good argument, but resorting to insults is not a way to do it.

cut out the insults. Nothing personal. I am just the grumpy guy.  
Hope nobody got hurt too much  

You do what you want but i would recommend to not keep more than 10% of unclaimed stakes for 'dev and promo' to not screw it up. Best to destroy the biggest part of unclaimed coins so you don't have bad talk and bad promo because of that. See other alts that have bad distro. They never get past a certain point and tend to be more unstable. Also target of many trolls.

You are aware that you are breeding trolls by not allowing people to claim longer, are you? Let's say i am in hospital and can't claim stake. When i come back i am left with nothing. Fine. I am a troll now. So with cutting all those people off: prepare for trolls later

just my 2 cents

No envy movement and yet I detect some envy

No idea what that means and i don't have time for this stuff. Correct the issue or not i don't care. Me and others will trade accordingly. Nothing more to be said.

PLEASE DON'T FEED TROLLS.

What are you talking about? Please troll elsewhere. You are not even an initial stakeholder! This is a troll, moderator!

[rockethead]

Current plan that hasn't been decided yet is to give devs 0% of unclaimed stakes. Instead, those stakes would be used to create a licensed investment fund that will pay dividends to everyone in the nemesis block. The fund would be a venture capital fund that gives money to companies using NEM, the same as any other venture capital fund would work.

And what about the SEC? They don't like money going to anonymous people.

If we do it correctly all the way and if there are any issues, then we will solve them as we cross the bridge. To start with, there is nothing cast in stone yet. It is not on the block chain per se, i.e., immutable and irreversible. Further, we need to seek legal advise on this matter.

Do note that there is a difference between anonymity and privacy. Most people care much more about privacy than anonymity. People staying anonymous have their reasons.


If the terms of reference and rule set are laid out, people always have the option to participate or not.

[makoto1337]

Current plan that hasn't been decided yet is to give devs 0% of unclaimed stakes. Instead, those stakes would be used to create a licensed investment fund that will pay dividends to everyone in the nemesis block. The fund would be a venture capital fund that gives money to companies using NEM, the same as any other venture capital fund would work.

i would be for that fund to be held in not-nem
Depending how that fund works that would be more or less important.
I care a great deal about profits (like everyone else) and i don't hold coins that i see have unpredictable markets or continue to be diluted so my concern about such a fund would be how the fund works and if it would have to touch the nem/btc and nem/fiat markets a lot to opperate. I am against anything that would take liquidity from the markets.
That VC-fund needs to opperate very transparent and if it wants to draw money from the markets it needs to announce in advance. To not cause negative reactions in the market i'd suggest liquidating slowly at a reasonably small rate in a transparent way. In any case the fund will lower the price and marketcap of NEM for the short/midterm or in the time it liquidates. If you want the fund i think people need to directly see how that fund raises the marketcap of NEM in the long run.
The concern is:
If the fund is large enough and would cash out on the market random amounts at random times that would be turning off a great deal. If you want such a fund i'd suggest to set up a plan of how to liquidate the nem to btc (for example liquidating a maximum of 1% or 2% of the fund each month to not stress the market too much)  and actually holding the fund in not-nem (btc or usd) so we would have a better market and more profits once that is through.
The outcome for marketcap and price will be similar to anyone else selling large amounts of coins.
VC-fund sounds all great and visionary, but hey: the investors will pay it one way or another. Money isn't created from thin air. No, i won't be happy to have a VC-fund for the greater good dump on me.  

Don't put burdens on the market that aren't absolutely necessary to not take profits from people. The more potential for profit there is in the coin the higher the demand will be.

Just some conclusions drawn from past expiriences.
Try to keep supply as low as possible to achieve the best price. The market is not there to accomodate constant charities especially not a young market and small cap.
Profits first. Everything else is second order. When profits are secured and everyone made some people will be more open to fancy ideas that put extra pressure on the markets. In the interest of a successful project try to keep sellpressure/supply on the markets as predictable and as low as possible especially during the first months.

TL;dr I don't care about NEM so long as I make my money?

At any rate, the fund would be a legitimate, licensed venture fund, probably in the British Virgin Islands. As a legal entity, it would have the fund managers publicly known and help accountable, just like any legit venture fund.

[V500]

TL;dr I don't care about NEM so long as I make my money?

At any rate, the fund would be a legitimate, licensed venture fund, probably in the British Virgin Islands. As a legal entity, it would have the fund managers publicly known and help accountable, just like any legit venture fund.

No, not exactly, it is more like: "who is buying stuff that looses him money is a fool", so don't make fools of your buyers or you'll loose them quickly.

I care about nem when it is something that can go places, since i am not the salvation army. If nem is something that can't go places why should anyone care about it?
Or other direction: why would you want to create an unsuccessful product?

Still didn't answer my question of the relation of the fund to the actual market. No doubt it'll draw liquidity, what else?

Well the way things go around here with all the rocky developement flipflopping and bad ideas from core-team i got to think twice if i want to  buy this or hold this longterm since i like raging success and huge profits.

If the team is not focussed on OUR gains (your own and mine) and on NEM, the coin and network but instead focused on all the things of second and third order like the number of coins everyone is holding and unclaimed stakes and things you gotta ask yourself if a bigger investement makes sense since profits apparently aren't important.

Core-team has set their heart on taking unclaimed coins for whatever they can dream up. Burning them? Noooo, we need x, y, z

Seen several coins that were hostile to traders and didn't care about growth or profits sometimes even prevent them (for the sake of distribution or whatever) going down the drain quickly. If you don't love and treat the investors and their money well things will turn out to be a waste of recources for everyone.
To make money in coins you need to be attractive to money. Seen enough megalomaniacs wanting to change the world with their unique vision. Enough already. Either you can make profits and create an economy and sustainable growth or you can't.
VC-funds fueled with unclaimed stakes? If you would ask me right now i'd say i don't like the idea.

Since this peergroup is very closed and defensive and i am scared of being called out a troll, fudder or whatever i'll leave it right there. Good luck with thinking out all the fancy projects while loosing focus on the profits.

The drama from the people who have missed the deadline will be epic btw if price of the coin would end up being high. I already reserved several jumbo-packages of popcorn for that. 

I'll come by in a few weeks and see how things progressed.

[makoto1337]

TL;dr I don't care about NEM so long as I make my money?

At any rate, the fund would be a legitimate, licensed venture fund, probably in the British Virgin Islands. As a legal entity, it would have the fund managers publicly known and help accountable, just like any legit venture fund.

No, not exactly, it is more like: "who is buying stuff that looses him money is a fool", so don't make fools of your buyers or you'll loose them quickly.

I care about nem when it is something that can go places, since i am not the salvation army. If nem is something that can't go places why should anyone care about it?
Or other direction: why would you want to create an unsuccessful product?

Still didn't answer my question of the relation of the fund to the actual market. No doubt it'll draw liquidity, what else?

Well the way things go around here with all the rocky developement flipflopping and bad ideas from core-team i got to think twice if i want to  buy this or hold this longterm since i like raging success and huge profits.

If the team is not focussed on OUR gains (your own and mine) and on NEM, the coin and network but instead focused on all the things of second and third order like the number of coins everyone is holding and unclaimed stakes and things you gotta ask yourself if a bigger investement makes sense since profits apparently aren't important.

Core-team has set their heart on taking unclaimed coins for whatever they can dream up. Burning them? Noooo, we need x, y, z

Seen several coins that were hostile to traders and didn't care about growth or profits sometimes even prevent them (for the sake of distribution or whatever) going down the drain quickly. If you don't love and treat the investors and their money well things will turn out to be a waste of recources for everyone.
To make money in coins you need to be attractive to money. Seen enough megalomaniacs wanting to change the world with their unique vision. Enough already. Either you can make profits and create an economy and sustainable growth or you can't.
VC-funds fueled with unclaimed stakes? If you would ask me right now i'd say i don't like the idea.

Since this peergroup is very closed and defensive and i am scared of being called out a troll, fudder or whatever i'll leave it right there. Good luck with thinking out all the fancy projects while loosing focus on the profits.

The drama from the people who have missed the deadline will be epic btw if price of the coin would end up being high. I already reserved several jumbo-packages of popcorn for that. 

I'll come by in a few weeks and see how things progressed.

Yes, we are out to change the world for the better, because there is a lot of improvement to be made. That is what all of the 3000 stakeholders are set out to do: change the world for the better for 7 billion people.

[nextgencoin]

Lets use the stakes to make a MOVIE!!!!

Brad Pitt and a gang of Crypto Nerds in a future zombie apocalypse battles the Federal Reserve with nothing more than NEM and semi automatics.


Others ideas for movies:

In the NEM of the Father
The Man With No NEM
NEM Country for Old Men
NEMtanic
Gremlins 2: The NEM batch
Dr NEM
Look Who's Talking NEM
Star Wars: Episode IV - A NEM Hope
Finding NEM

ETC.....

[makoto1337]

Lets use the stakes to make a MOVIE!!!!

Brad Pitt and a gang of Crypto Nerds in a future zombie apocalypse battles the Federal Reserve with nothing more than NEM and semi automatics.


Others ideas for movies:

In the NEM of the Father
The Man With No NEM
NEM Country for Old Men
NEMtanic
Gremlins 2: The NEM batch
Dr NEM
Look Who's Talking NEM
Star Wars: Episode IV - A NEM Hope
Finding NEM

ETC.....

NEMtastic

NEM Hur
NEMatar
Iron NEM
Spider NEM

[patmast3r]

40 % is a bullshit number. Where is that even from ?

Why is it bullshit number? You already have 25% development stake. Why do you need 50% for the "development"? Plus all the BTC and Nxt collected during the IPO? Puer greed

You just pointed out yourself that it's 25% and you're asking me why it's a bullshit number ?

And could we please realize now that when we say development we don't mean that it goes into the pockets of the devs but will be used to develop NEM as in paying third parties, bounties and what not.

[patmast3r]

So a couple new FUDsters around. Nice to see you guys  .
Maybe you could save us some time and stay away since this isn't an ordinary crypto and people that are stuck in the mindset of ordinary cryptos are never going to understand what were trying todo.

If you're in it for the money then goto shitscoins so long as this is still the wildwest and people are falling for scams. This is not the right place for you.

PS: Happy Halloween

[makoto1337]

Current plan that hasn't been decided yet is to give devs 0% of unclaimed stakes.

Hey...  I'm not a dev...  can I get some?   

Anyone can get NEM by helping to build the ecosytem, market, translate NCC, etc.
Given that fact, it is surprising to see so many people just sitting around waiting for launch to dump and get rich quick.

[jubalix]

Dear Nemites.

I was active in the eXo thread, to force real escrow for eXo. I am sure a lot of people are happy this happened.

I suggest strongly here All unclaimed stakes must be held indefinitely for the people to claim. Only the cost to maintain the stakes them selves could be deducted from the stakes.

This is the only way to avoid a ripple or NXT position.

It Achieves the original intent to spread as widely as possible, it keeps the stakes balanced to original spread.

It heads of accusations of scam.

This is what is commonly done in legal trusts, unit trusts, wills, and with bank accounts. You don't just sieze stakes

I can not emphasize this enough.

Any derogation from this position and all your hard work will be undermined.

[patmast3r]

...
This is the only way to avoid a ripple or NXT position.

No it's not.

It Achieves the original intent to spread as widely as possible, it keeps the stakes balanced to original spread.

No it doesn't. It spreads NEM to people that are already in cryptos. We want to get NEM out in the world to the average Joe. That will not be accomplished by holding NEM for people that don't even care enough to checkin for months on end.

It heads of accusations of scam.

Any accusations of NEM being a scam don't hold water anyway. If they want to make a fool out of themselves and claim NEM is a scam let them. They wouldn't be the first. Just like many people say NXT is a scam.

This is what is commonly done in legal trusts, unit trusts, wills, and with bank accounts. You don't just sieze stakes

...

This was not an IPO so you can't compare it.

[makoto1337]

Dear Nemites.

I was active in the eXo thread, to force real escrow for eXo. I am sure a lot of people are happy this happened.

I suggest strongly here All unclaimed stakes must be held indefinitely for the people to claim. Only the cost to maintain the stakes them selves could be deducted from the stakes.

This is the only way to avoid a ripple or NXT position.

It Achieves the original intent to spread as widely as possible, it keeps the stakes balanced to original spread.

It heads of accusations of scam.

This is what is commonly done in legal trusts, unit trusts, wills, and with bank accounts. You don't just sieze stakes

I can not emphasize this enough.

Any derogation from this position and all your hard work will be undermined.

NEM, especially post-launch, is decentralized, so there is no long-term authority to hold on to these stakes. If someone can't claim within a 4 month period, they seriously don't deserve anything. NEM is not an IPO, but rather a voluntary association. It's a MOVEMENT to build a new economy based on financial freedom, decentralization, and equality of opportunity. Everyone has an equal opportunity here and we should not have to handle the logistics of unclaimed stakes forever just because some people don't take the opportunity.

That being said, I seriously doubt we will see a single unclaimed stake after the period, unless it is from a hacked BTT acct.

[nembit86]

So a couple new FUDsters around. Nice to see you guys  .
Maybe you could save us some time and stay away since this isn't an ordinary crypto and people that are stuck in the mindset of ordinary cryptos are never going to understand what were trying todo.

If you're in it for the money then goto shitscoins so long as this is still the wildwest and people are falling for scams. This is not the right place for you.

PS: Happy Halloween

Yes, that was the feeling I had too.....these guys cant get out their 'box' ....do they seriously think that when people are using Nem years from now that anyone will worry or even think about a few guys that couldnt give a damn and didnt pick up their stakes?

[arteleis]

Dear Nemites.

I was active in the eXo thread, to force real escrow for eXo. I am sure a lot of people are happy this happened.

I suggest strongly here All unclaimed stakes must be held indefinitely for the people to claim. Only the cost to maintain the stakes them selves could be deducted from the stakes.

This is the only way to avoid a ripple or NXT position.

It Achieves the original intent to spread as widely as possible, it keeps the stakes balanced to original spread.

It heads of accusations of scam.

This is what is commonly done in legal trusts, unit trusts, wills, and with bank accounts. You don't just sieze stakes

I can not emphasize this enough.

Any derogation from this position and all your hard work will be undermined.

  Got a point here..

[lyka]

"NEM, especially post-launch, is decentralized, so there is no long-term authority to hold on to these stakes. If someone can't claim within a 4 month period, they seriously don't deserve anything. NEM is not an IPO, but rather a voluntary association. It's a MOVEMENT to build a new economy based on financial freedom, decentralization, and equality of opportunity. Everyone has an equal opportunity here and we should not have to handle the logistics of unclaimed stakes forever just because some people don't take the opportunity.

That being said, I seriously doubt we will see a single unclaimed stake after the period, unless it is from a hacked BTT acct."


Well and accurately told.

[popticu]

Hello everyone, I got "NEM Token"
what do I do next to get my coins

?

Please help me

I received from patmast3r "Your token: XXXXXXXXXXXXXX"

?

What do I do next with this token?