Topic: [ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official - page 141. (Read 196191 times)

How is this restriction enforced? Is it part of the protocol that before a certain block number transactions from the premine address are not allowed? If not, why not?



Is this another BobSurplus coin?

The thing is, if the Foundations were not mighty at the beginning, they wouldn’t be able to execute any of what has been announced in the strategic plan. NeuCoin indeed has a totally different approach: power is given to entities that are powerful enough as well as centralized at the beginning to be able to kickstart the currency and avoid the stagnation of mainstream adoption, just like we’re seeing with Bitcoin. Also, the Foundations will quickly lose their powers over the first years as they distribute and sell their coins.
In any case, thanks for the feedback LiQio

NeuCoin presale in 7 days - Expected to sell out quickly. What you need to know.‏

Stay away from all this BS coin owned by corporations.

Did they invest with BTC 

What's interesting about it? That it is controlled by some rich kids?

^
Thanks for answering.

From an investors perspective I can only state the following (with some redundancy):

- you clearly overshoot the mark with those ratios, the foundations are way too mighty
- "figures will be made available before the launch of the cryptocurrency in July" -> this is too late as the presale (if we want to call it that) starts in a couple of days
- "Each year, the foundations’ goal is to sell sufficient NeuCoins through private sales or exchanges to fund the following year’s cash needs.", "when NeuCoin prices rise, the foundations may sell additional coins, with the excess cash obtained kept as a “rainy day” reserve" -> nice words, but this is certainly not precise enough for someone giving you money upfront

You demand an enormous amount of trust, patience and devotion from the 100m investors.
A sect could be successful with this approach, but I doubt that a player in a free market ever will.

Coming back on LiQio’s questions, which are indeed totally relevant:

It is indeed true at the beginning, which will also enable the coin to be developed according to the strategy detailed in our wiki and to be kickstarted. NeuCoin's paradigm is indeed very different from that of Bitcoin's, we have never hidden this fact: a non-premined cryptocurrency (Bitcoin) is indeed totally decentralized from the beginning but also suffers from a free rider problem - as explained in my post above.

Bitcoin in this sense was well tailored to appeal to early bitcoiners, but not so much to mainstream consumers.
A pre-mined cryptocurrency on the other hand is going to be more centralized than Bitcoin - only at the beginning though in our case. Over time, as our plan is executed in a fully transparent way (figures will be made available before the launch of the cryptocurrency in July) and NeuCoins are distributed in a way that funds mainstream adoption, the outcome is a decentralized and mainstream cryptocurrency. Indeed, pre-mined cryptocurrencies reintroduce a trust factor during a part of the distribution phase - but at the same time, it gives them the advantage to be able to fund mainstream adoption in a must faster and efficient way. Over time, the majority of the coins will be in the hands of the crypto community and of mainstream consumers so that the future of the coin is determined by its holders in a decentralized way.

Now, it is indeed a totally different model: while it is totally fair for you to disagree with it and to not be interested in NeuCoin, calling it a scam is yet another story (answer to RealMelatasta here, definitely our biggest fan so far ).


The foundations will manage their holdings in the way described below (http://www.neucoin.org/en/wiki/#funding). The in-depth (figures) fund management will be made available before the release of the cryptocurrency in July; the principles are the following:
Each year, the foundations’ goal is to sell sufficient NeuCoins through private sales or exchanges to fund the following year’s cash needs. However, when NeuCoin prices rise, the foundations may sell additional coins, with the excess cash obtained kept as a “rainy day” reserve. When prices fall, fewer (or zero) coins will be sold.  
Over time, the NeuCoin foundations must continuously determine what the optimal use of their NeuCoin assets are - optimal from the perspective of maximizing the value of NeuCoin. The Growth foundation must always assess whether NeuCoin’s long-term value would be maximized by giving more coins away to consumers, or selling more coins and using the funds for consumer marketing. The Utility foundation must always assess whether NeuCoin’s long-term value would be maximized by awarding more coins (ideally with sales restrictions) to service providers that make NeuCoin more useful, or by selling more coins and using the proceeds to directly fund projects. The prevailing price and demand for NeuCoin will always have a large bearing on this decision calculus.
This will be enforced the following way: http://www.neucoin.org/en/wiki/#direct-democracy
Each foundation will be managed by an Executive Director and overseen by Council Members whose compensation packages are tightly linked to the growth in the market capitalization of NeuCoin. Furthermore, each foundation has an “Enforcer,” whose oversight role is to ensure that the Council Members are following the objectives and rules of the foundation and the results of coin holder votes as discussed below.
The initial Council Members were recruited and appointed by NeuCoin’s founding team and will serve for an initial term of three years. In the first year, the Council Members will be primarily composed of members of the NeuCoin pre-launch founding team. By the end of year one, the foundations will each recruit two independent Council Members and some of the founding team Council Members will resign from the Councils. After the first term, Council Members will stand for re-election for consecutive three year terms.


This question revolves around your second question (let me know I’m wrong) "What is the hopefully transparent strategy (in-depth)" to which I gave an answer above. A detailed plan will be made available before the launch of the cryptocurrency in July 2015.

I (and the rest of the team) are available and happy to continue this discussion!

best scam so far 2015!

go, lose your money!!!

Hi everyone,

Here are a couple elements, taken from an answer I gave to TaunSew's remarks on this thread: https://bitcointalk.org/index.php?topic=1025438.20

TaunSew, a couple points:


I’m not sure what you mean by “nothing on social media substantiates those claims”. TechCrunch also relayed our investor names, as you can check in this article: http://techcrunch.com/2015/02/03/neucoin-is-a-new-cryptocurrency-designed-for-microtransactions/
I don’t think any of them would have liked to be mentioned in this article as well as on our website if we had made up their investment
The fact that some people here think we would be making up investors or mentioning big names without their consent probably says more about how shadowy some parts of the crypto world are than it does about us. Our investors may indeed be of a caliber not commonly associated with the altcoin space, but they are certainly real - and they wouldn't allow us to use their names in TechCrunch articles if they hadn't agreed to invest.


I checked the peercointalk thread you’ve been referring to, and nowhere it shows that we’ve been refusing to give proof about our investors.
As well, I would highly recommend you to read our plan, available here: http://www.neucoin.org/en/wiki/ it answers most - if not all - the points mentioned below.

Over the last year, the NeuCoin project team has:

• researched the different consensus mechanisms and more particularly PoS and wrote the industry’s most comprehensive white paper explaining the advantages of proof-of-stake versus proof-of-work,
• built an online wallet - www.MyNeuCoin.com - that is as user-friendly as any leading Bitcoin wallet - and superior to any altcoin wallet
• built at least one consumer on-boarding website - www.GetNeuCoin.com - a game-like tutorial designed to convert mainstream users in a fun and educational way
• built a consumer-friendly cloud mining service that lets users effortlessly earn PoS awards through “growth accounts”
• created partnership with RadioAirplay.com, an artist promotion company that works with 250,000 emerging musicians and Jango.com, a streaming music service with 8 million monthly listeners, to develop a NeuCoin tipping platform
• created partnership with MondoMedia, a video content producer with the largest animation channel on YouTube to develop a premium content micropayments platform
• created a robust vault service to store and control the sale-restricted portion of founding teams’, angel investors’ and partner companies’ sale-restricted NeuCoins

And plenty of other elements.
If you think our project is only about forking Peercoin, you need to have a more in-depth look at http://www.neucoin.org/en/wiki/.

Like I said above, the founders of NeuCoin know our investors well, they have invested in each others' ventures and worked with and built companies together in the past, and all this is public record and not something you can invent. I’m not sure where the “refusal to validate” comes from.


Bitcoin is still nowhere in terms of mainstream adoption, and there is a reason for this: Bitcoin suffers from a real free rider problem. The costs of effectively marketing Bitcoin (ideally giving some away for free) and building truly useful applications for it are high. These high costs must be borne by individual companies, while the rewards would be spread across all existing Bitcoin holders. This misalignment of costs and rewards is what is holding back utility development and consumer adoption.

beautiful scam, congratulation on scamming that money from big pockets at the beginning 

If you really want to develop a "community coin", look at reddcoin, they already have something much more advanced than neucoin

Obvious scam is obvious. The real question is how many will continue to fall for these over and over. I hope that after the last obvious pre mined scam Paycoin (XPY) people will stop wasting coins into these.

Seems like a scam to me.

They claim they have "solved the problems of Proof of Stake",
but I'm not at all convinced.

I debated them about it in this thread:

https://bitcointalksearch.org/topic/m.11012010

Interesting reading I think.

good point, seems like the initial price valutation is just unsustainable in long term

The strategic angel list looks like names used without their consent.   Using exact phrase matching, I have not been able any of those dozen+ names mention NeuCoin anywhere on their official twitter and facebook.  For about half of them - the information of them endorsing NeuCoin only exists on your NeuCoin wikipedia.  Some of the others the information is traceable to press releases you sent out in February but still no hard proof.

People have been asking for validation for weeks - in the form of these Venture Capitalists going public on their social media accounts endorsing NeuCoin.  There is no explanation for straw man or deflecting these requests for validation.  It just shows that either your investors are ashamed of this project or you are using their names without their consent.  

Before you used the false dichotomy of: "we would never do that because we would be sued" and really this is a logical fallacy.  People get sued all the time and over the dumbest things. If people were really concerned about being sued in the world then there would be no lawsuits..  


  Tech wise I don't think  fork of a Peercoin or adware spam prompting people to download some $hitcoin on a radio sites will produce a million users in 1 year.  If it were that easy then Bitcoin would had done it years ago.

  I already use Tunein on a daily basis (which has more users and better content than your radioairplay) and I would never pay for Tunein nor download a cryptocurrency they recommended and the same applies to if I were using radioairplay.  There's no user adoption or proof of concept from trying to push cryptocurrency on sites where people are accustomed to free content and don't want to pay for anything.

in than sense constant start?  - so many forks..

pretty much a scam that goes against the decentralized spirit of cryptos. how many times will you guys have to get burned in order to learn? they can just take all the money from the presale and run. there is more incentive to doing that and it is easier and more profitable to do that then to create an actual service.

all the coins owned by founders and investors have re-sale restrictions for 5 years.

[/quote]

ATTENTION!
Just doing some math.

Presale volume is 0.1 billion out of 3 billion current total number according to pre-mine allocation from p10 of strategic plan (pie chart).
So, even if I buy all 100mln coins in presale to crypto-community, my network share will be 0.1/3= 0.03 or 3%.

Fondations, angels, the team have a 97% network share. True, they have 5year restriction on sale of their CURRENT (!) holdings.
In a POS a user is rewarded new coins in proportion of their current holdings. Therefore following network share rule of POS, 97 out of every 100 newly mined coins go to the "management group"  and 3% to presale users.
Obviously there is no restriction on dumping these 97% of newly created coins to the market.

Since "NeuCoin’s economic model uses very high PoS awards, starting at 100% per year in year one" the team gets their money back in the first year.
Angels and the team don't have to sale their initial holding at all, since they make it up in the "interest" from POS coin creation on their share of capital. The 5year restriction might have been as well a 20y restriction.

"... coin holdings will multiply by up to 50X over 10 years with non-stop PoS mining" - how about coin value? Any plans to keep it at least stable.

OK so i took the survey so were are my coins then...left my email address...nothing...looks like a scam right from the start

gays, free 2500 NEU - just answer for few question!
https://clck.ru/9UApS

Published some feedback on the whitepaper on the NxtForum https://nxtforum.org/general-discussion/neucoin%27s-40-page-white-paper-rebuts-all-nothing-at-stake-objections/msg174417/#msg174417