Topic: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread - page 166. (Read 661498 times)

Bitcoins will become the future currency is not the reality, but in the future as a medium of payment is still possible, so NEM development should pay attention to the correct direction

Dear Friend!

IPO has already closed....

Cheers

As long as NEM flies under the radar, the NEM team decides about NEM
As soon as NEM is on the radar of the big guys, they decide about its future.
Take care of it.
See what happens to Bitcoin.

Rather than buying from account, it will be wiser to just join the auction.

Definitely wise to auction them off in a couple different formats.  Maybe even use ebay for one? 

Has anyone taken the time yet to add up exactly how many socks have been booted, ie how many are being auctioned? 

My guess is they will sell for around 0.25 - 0.5 bitcoin right now.  But with the Alpha out, would double or triple that amount.

Maybe staggering the auctions every other week?  We could hype each one and bring out more and more bidders to them and have it lead up to the release.  Imagine being able to bid on a full stake the day before the a big coin like this is launching?  People would bid like mad to snag the last one, and would set the market price for the first exchange that accepts it the following day.   

I mean good idea to sell more smaller shares to  greater number of people, not to fix the price

I understand your point. However the problem with maidsafe was not the valuation, but the discount offered to users who bought through mastercoin.

What I am saying is very different from price manipulation.

Because of the hard work put into both projects, maidsafe and etherium(although ether is not out yet) thought things trough and have set up a pre-market valuation from which the price should be allowed to increase. After the initial buying phase the market will decide what exact price each coin should have.

We have begun with a call to participation not an IPO so there is no price manipulation or anything of that sort. From then until now we have made some really good progress. We have some things that are almost in place but most important a lot of hard work and energy was put by utopian, the great dev team and the community to bring things to where they are. Imho the value of such a dev team, community and project is imense.

That is why setting a valuation, starting from there and allowing price to go up for a stake but not below during the auction seems the right move if we want to build things and not undermine our work with this auction.

Update: Consider that if we set a pre-auction valuation of 5 btc/stake which is 500 Satoshi/1Nem, the value is really reasonably low. To put things into perspective Nxt peaked at around 15000 Satoshi/1Nxt despite the distribution image problem they have and Dogecoin peaked at around 280 Satoshi/1Doge despite the unlimited coin supply. We are talking about an innovative movement here which has already gathered about 2500 - 3000 people to support it from the beginning. If you take a look around I think 5 btc is really cheap for what you see here.

Wisdom

As a NEM stakeholder I want to see it succeed. It would be great if it was worth a lot too. I understand that starting the price in an auction high would in theory make everyone else richer, at least on paper. But that kind of tactic is price manipulation and would best benefit the first person that dumps. I'd rather the auction start at 0 or at least the price of the last stake holders fee and let the free market raise it up from there.

Maidsafe recently tinkered with the price of their mastercoins and have been heavily criticized for it. They were basically given away shares at off free market prices that maidsafe "fixed" and it left a lot of people turned off by maidsafe. I'd rather have NEM not start off with more enemies than need be.

So what do you guys think about a pre-auction valuation?

Utopian?

If well advertised, I can definitely see it. Many will be from outside the alt coin scene. The auction would need happen outside of the Bitcoin Forum, and on our own website.
There are those who are on the lookout to invest in the next big thing, and if this is it, $5,000 is chump change. Owning one million NEM would be a good opportunity.
At the moment this auction is the only way to acquire it and with only 1,200 openings it will be perceived as rare. +1btc for one of 1,200 spots is relatively "cheap".

"It's hard to say, the currency will be the mainstream of future virtual currency." Lucas said, "if someone came up with an understanding of virtual currency, fluctuations in the value of small, very good, it may be accepted by the masses of money, rather than the currency."

Not planned as of now and not really possible without adding a little sketchyness to NEM imho.
I'm not all that worried though. Look at the clones of NXT. If that's the kind of stuff we'll have to deal with then let them clone and fall on their faces

Yes he did if this is true.

Todays cars are high tech products. But no one has to be an engineer to ride the car.
Just sit in and drive.
NEM should create a similar situation for the coin.
For people's widespread acceptance NEM handling should be possible for ordinary people.

Simple NEM handling should be the surface common people see.
Technical details may be interesting for experts.

LOL
I say he deserves it!

why not?

marketcap only 40000BTC (stake 10BTC)

it is still cheap

Good idea.

I have read your development plan for the details of NEM's features.support it!