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Topic: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread - page 117. (Read 661498 times)

legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
It seems that some people don't understand the proposed distribution. From UP's letter (https://docs.google.com/document/d/1q-Ew6-ac_3NmWHxO2O0WivNOP7Wz9sghTYS2tPWqd8E/edit):


Quote
NEM would be created with the maximum of 4 billion unit divisible to 6 figure after zero. We plan to distribute 72% of the total to the community at the official lunch, all with a minimum contribution of promotional effort or donation. 3% will be auctioned to the public to raise money for the development fund. 25% will be reserved under control of the core development team in which 10%  is reserved for the core development team for their works in fully developing NIS and NCC to V1 blockchain specification. 5% is reserved for the extended development team for their works on  NEM promotion and NEM ecosystem. The last 10% is reserved for future development after the completion of V1 blockchain including further development of the ecosystem and special features to the core blockchain.

100-72 = 28% reserved for building NEM.

10% is our salary and the remaining 18% is going towards building the ecosystem and future infrastructure for NEM and marketing.
legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
The team is working on this part time while we have our regular jobs as well. That being said, we are getting really close to have a stable platform that will form the testnet. I think people will be impressed by our work once the alpha is out.

I wouldn't go that far...
I mean from a normal's person/computer user POV, I don't think there will be much "on the outside" to be really impressed.

But as the saying goes, you don't judge the book by it's cover.

I think people will have a great time on the testnet. I think the average user will be pretty impressed with the client. I would go so far as to say that new users should wear diapers the first time they launch it.
hero member
Activity: 644
Merit: 500

1 billion for dev founds
3billions to stakeholders (1000000 NEM for 3000stholders)

It's 400 million for developers stake.
And 1 billion for development fund.

Lets not forget BTC and Nxt that were collected during IPO (which was also pretty hefty amount). Add that to the development fund too.

Now I trust people involved in this that they won't dump that many coins and disappear, but if there was any other PoW coin where 35% were pre mined by developers it would be called outright fraud.

I would like to see more people in control of the 25% -- instead of just the initial developers. Maybe form something like various committees (marketing, development, social media, infrasture etc) and the funds split into those accounts.

I don't want to see just one person controlling the 25% and making all the decisions.
legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.

Premine is the wrong term. There is no mining and since all coins are created at one point in time there is no "pre".
Who in their right mind would harm a project - by dumping - after putting in countless hours of their free time?

I plan to buy more NEM upon launch. That, and some MOON BOOTS.
legendary
Activity: 1697
Merit: 1074
...
Finally, I would say relax, have some fun and wait for the Nemesis.
...





PS: NEM, NXT, NXTL, EXO > PoS Coins > BTC, LTC, other > Fiat Currencies
legendary
Activity: 2124
Merit: 1013
K-ing®
It sounds like a lot but further ongoing development is not going to be cheap. Marketing costs an arm and a leg these days. Having looked around forums there is no end to people pissed that they have to keep parting with their own personal $$$ to pay for such.


There are two different things:

Developer's fund 10%
And development fund 25%

Total 35%

I am assuming developers will get the 10% at launch. If they start selling large chunk, the prices will come down. 10% is 400 million  Nem

The "development fund" is 25% for future use. ( that's 1 billion Nem)

Am  missing something here?






1 billion for dev founds
3billions to stakeholders (1000000 NEM for 3000stholders)
hero member
Activity: 644
Merit: 500
It sounds like a lot but further ongoing development is not going to be cheap. Marketing costs an arm and a leg these days. Having looked around forums there is no end to people pissed that they have to keep parting with their own personal $$$ to pay for such.

There are two different things:

Developer's fund 10%
And development fund 25%

Total 35%

I am assuming developers will get the 10% at launch. If they start selling large chunk, the prices will come down. 10% is 400 million  Nem

The "development fund" is 25% for future use. ( that's 1 billion Nem)

Am  missing something here?


hero member
Activity: 644
Merit: 500
I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.

Premine is the wrong term. There is no mining and since all coins are created at one point in time there is no "pre".
Who in their right mind would harm a project - by dumping - after putting in countless hours of their free time?

BCNext


There is no evidence BCNext dumped to bring prices down. He simply disappeared and gave the project to CfB.



hero member
Activity: 840
Merit: 500
Risk taker & Black Swan farmer.
It sounds like a lot but further ongoing development is not going to be cheap. Marketing costs an arm and a leg these days. Having looked around forums there is no end to people pissed that they have to keep parting with their own personal $$$ to pay for such.

I would much rather the capital be there and used to advance our cause than more given to those that don't really care.

Totally agree.

hero member
Activity: 840
Merit: 500
Risk taker & Black Swan farmer.
I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.

Premine is the wrong term. There is no mining and since all coins are created at one point in time there is no "pre".
Who in their right mind would harm a project - by dumping - after putting in countless hours of their free time?

By now, it should be obvious to every sensible person that this project has a quite different dynamic and purpose, not only compared to any shitcoin/scam coin project out there but even compared to the other promising and interesting projects.
legendary
Activity: 866
Merit: 1002
The team is working on this part time while we have our regular jobs as well. That being said, we are getting really close to have a stable platform that will form the testnet. I think people will be impressed by our work once the alpha is out.

I wouldn't go that far...
I mean from a normal's person/computer user POV, I don't think there will be much "on the outside" to be really impressed.

But as the saying goes, you don't judge the book by it's cover.
sr. member
Activity: 602
Merit: 268
Internet of Value
Perhaps "I belong to gifex" would do the trick. Smiley

Alright, ready. i have maked message "I belong to gifex". And i got one long signature text, what is this text for? i must sent this signature text to utopian or what?

You can put it here and I can verify it. It is an instructive exercise as well. May I ask why does it take you so long to do this? because the duplicate hash table has been up more than 2 months I think. It is worrying because if the pre-launch option has been enabled then the fraudster could cash out and I would not be able to put you back in.

Hi, signature text are: HNJhDEw/4+4kanq48ePtRKiOL4wprAAo0WnjaBo+l0iYntyOWRS3iptxGkbxDlT4ns3z+uBsmU6tqPZLEBoRyOo=

and "May I ask why does it take you so long to do this? because the duplicate hash table has been up more than 2 months I think."

i have sent you message about this scammer 2 months ago (PM on Bitcointalk) but you have not respont it. i very sorry for that, i have needed at once to post about this problem in this theard. i hope i will get my NEM stake.

Thanks. I will swap you in. I might have missed your pm. sorry for that but it is better you post the complaint in public and we have the complaint thread for that purpose.
sr. member
Activity: 602
Merit: 268
Internet of Value
I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.

Premine is the wrong term. There is no mining and since all coins are created at one point in time there is no "pre".
Who in their right mind would harm a project - by dumping - after putting in countless hours of their free time?

Pat is correct. Everything is allocated on launch so there is no "pre" or "post", however 10% under development team control is committed to be used AFTER V1 blockchain completion. That amount would probably take quite sometimes (NXT took 6-7 months since the genesis block to launch the distributed AE) to get into the market.
hero member
Activity: 644
Merit: 500
P2P The Planet!
Man i still remember the IPO forum thread of NXT, i read his post asking people to donate bitcoin into his bitcoin address. It was so unprofessional and felt like it was just another scam. He had a prototype and i had no idea what i was looking at.

Damn do i regret not investing...
member
Activity: 63
Merit: 10
It sounds like a lot but further ongoing development is not going to be cheap. Marketing costs an arm and a leg these days. Having looked around forums there is no end to people pissed that they have to keep parting with their own personal $$$ to pay for such.

I would much rather the capital be there and used to advance our cause than more given to those that don't really care.
hero member
Activity: 980
Merit: 1001
I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.

Premine is the wrong term. There is no mining and since all coins are created at one point in time there is no "pre".
Who in their right mind would harm a project - by dumping - after putting in countless hours of their free time?

BCNext



yeah well, tantrums are always a possibilty Smiley
hero member
Activity: 644
Merit: 500
P2P The Planet!
I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.

Premine is the wrong term. There is no mining and since all coins are created at one point in time there is no "pre".
Who in their right mind would harm a project - by dumping - after putting in countless hours of their free time?

BCNext

hero member
Activity: 980
Merit: 1001
I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.

Premine is the wrong term. There is no mining and since all coins are created at one point in time there is no "pre".
Who in their right mind would harm a project - by dumping - after putting in countless hours of their free time?
hero member
Activity: 644
Merit: 500
P2P The Planet!
I've added recent updates to the F.A.Q. thread.

hmmm...

Lets just hope the developers don't dump their 25% premine.
full member
Activity: 224
Merit: 100
NEM Enthusiast
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