Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1345. (Read 2985503 times)
Nobody wants to repeat NXT. I remember from 2013, and the posts are still there on the older NXT forum, of people having to beg the whales to make the whales richer *mind blown*, that is real greed when you're sitting on $4 million and can't even be bothered to help fund your own coin. On the contrary, most of the behaviour of the NXT whales (since day #1) was to dump and cash out their lottery winnings without any regard for the ecosystem or NXT's overall livelihood. That's why nobody is buying NXT anymore because as soon as it shows any signs of going up - the whales dump it back down.
Can you show some of these posts of greedy NXT whales refusing to donate? As someone who came later and reviewed the first six months of NXT in a few days my assessment is very different. NXT whales basically got the job done, that's why NXT is still hands down the best crypto to follow bitcoin. Who were the greedy ones?
http://ww1.nextcoin.org/index.php/board,8.0.html
Awfully convenient to shut down a website which cataloged much of the early information regarding NXT. Still you get some unrelated traces about this on other websites.
http://nxtcoin.blogspot.ca/2014/01/nxtmyths-1-nxt-is-not-scam-it-wasnt.html
(Why did Klee have to fund everything again? Explain the other 4 whales or even the other 7. That was back then, today Klee is gone-ed and CfB even left for Jinn)
http://www.nxtcoins.nl/bitcointalk-summary-13-01-2014/
(Uhh 20,000 NxT for high end apps? So 8 whales are contributing 0.00005% of their literally free overnight lotto winnings to improve NXT?
I'll give it a few months until they shut down these ones too.
NxT was a crappy setup where anybody with good ideas had to beg from the whales and if the whales didn't like it then you never got funding. In most circumstances of funding, if they did give it out, it was like dust. That's not how you run a crypto currency. NXT never maintained momentum after its' initial success and today it is a coin of trolls and scammers. NxT's scam distribution led to scammers, hah.
No names or specific instances in those links you posted. Can you just recount a few instances from memory? Obviously people who had ideas and projects that didn;t get any donations or bounties would have have been pissed off, but guys like jl777 were funded and have become key NXT developers, and as far as I know jl777 was not in the original 73 NXT stakeholders. NXT whales couldn't fund everyone, and their success rate was pretty good. I get that NEM is trading off a little more centralisation to get better dev funding, and that might work out OK, but I really don't get the "NXT whales were greedy" opinion. They used mutual self-interest to fund the people that they believed would do the best work, like jl777 and many others.That's not greed, and so far the results for a 100% decentralised project have been impressive.
Please name the names of the "greedy whales" if you can, and say what they did that was greedy. The history of NXT and NEM and connected, and its important to get the facts straight. Many say you're UtopianFuture who left NXT and started NEM from bitterness because you/he didn't get funded, like jl777 did. If that's true your opinion is trolling, but if you know specific acts by real people, then that's different. I honestly don't know what motivates you, but whoever you are, I think if you have evidence of greedy NXT whales it would be useful to share the specifics, not just repeat the same accusation that doesn't seem to be backed by any evidence.
More proof that the NEM devs are hard at work! 
I really hope people can see what is going on.
NEM devs working really hard.
I really hope people can see what is going on.
NEM devs working really hard.
So does this mean this no longer applies?:
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
Yes, the auction was cancelled a long time ago.
As far as I know there is a 25% and 75% split. Some of that 25% goes to main devs at launch and some goes to future main devs once they have completed some really nice features and leave beta and go into version 1. This is maybe a year from now. And some of the 25% will go towards creating marketing team strategy for a marketing team.
Of the 75% a ton of sock puppets were kicked out. I think we all agree that was a really good thing (except for the people with only 5 posts who are coming in here to complain). For literally months there was discussion to burn, redistribute, or put the funds towards special projects. Of course lots of people will pop into this thread at launch telling NEM devs what they "should" be doing with that money now that it is launch, but the reality is they gave no input before. After a lot of discussion that went on for months and votes by the community members that were actually active (not just for redeeming and dumping) it was decided to use funds from sock puppets to fund special projects which the numbers have been posted in here. These include some redistribution projects like node rewards and silver coins. Some development projects like hiring people to build professional quality phone apps (NEM devs are awesome programmers but they aren't app makers). And there is also a community fund where the community will vote on block chain for projects that the community wants. And lastly there is a plan to build a sustainable loop with XEM.
So the 75% won't be upheld even though it says so on the first page of this thread? More misinformation again.
Definitely any misinformation needs to be updated. I'm hoping that will be done before launch. It's always best making sure things are clear.
As per what happens to the sock funds. Again, it won't ever either directly or indirectly go into the devs pocket. I just explained in the post above the soecial projects that the sock funds will go towards.
but if NEM never launch then Igor will never be able to release his Jinn and forever will beautiful Svetlana be plowed by hairy Boris truck driver, this is hairy slavic love story at stake. Proof of Stake. 
Reminded this - https://www.youtube.com/watch?v=lnatAZR2u2s
So does this mean this no longer applies?:
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
Yes, the auction was cancelled a long time ago.
As far as I know there is a 25% and 75% split. Some of that 25% goes to main devs at launch and some goes to future main devs once they have completed some really nice features and leave beta and go into version 1. This is maybe a year from now. And some of the 25% will go towards creating marketing team strategy for a marketing team.
Of the 75% a ton of sock puppets were kicked out. I think we all agree that was a really good thing (except for the people with only 5 posts who are coming in here to complain). For literally months there was discussion to burn, redistribute, or put the funds towards special projects. Of course lots of people will pop into this thread at launch telling NEM devs what they "should" be doing with that money now that it is launch, but the reality is they gave no input before. After a lot of discussion that went on for months and votes by the community members that were actually active (not just for redeeming and dumping) it was decided to use funds from sock puppets to fund special projects which the numbers have been posted in here. These include some redistribution projects like node rewards and silver coins. Some development projects like hiring people to build professional quality phone apps (NEM devs are awesome programmers but they aren't app makers). And there is also a community fund where the community will vote on block chain for projects that the community wants. And lastly there is a plan to build a sustainable loop with XEM.
So the 75% won't be upheld even though it says so on the first page of this thread? More misinformation again.
Nobody wants to repeat NXT. I remember from 2013, and the posts are still there on the older NXT forum, of people having to beg the whales to make the whales richer *mind blown*, that is real greed when you're sitting on $4 million and can't even be bothered to help fund your own coin. On the contrary, most of the behaviour of the NXT whales (since day #1) was to dump and cash out their lottery winnings without any regard for the ecosystem or NXT's overall livelihood. That's why nobody is buying NXT anymore because as soon as it shows any signs of going up - the whales dump it back down.
Can you show some of these posts of greedy NXT whales refusing to donate? As someone who came later and reviewed the first six months of NXT in a few days my assessment is very different. NXT whales basically got the job done, that's why NXT is still hands down the best crypto to follow bitcoin. Who were the greedy ones?
http://ww1.nextcoin.org/index.php/board,8.0.html
Awfully convenient to shut down a website which cataloged much of the early information regarding NXT. Still you get some unrelated traces about this on other websites.
http://nxtcoin.blogspot.ca/2014/01/nxtmyths-1-nxt-is-not-scam-it-wasnt.html
(Why did Klee have to fund everything again? Explain the other 4 whales or even the other 7. That was back then, today Klee is gone-ed and CfB even left for Jinn)
http://www.nxtcoins.nl/bitcointalk-summary-13-01-2014/
(Uhh 20,000 NxT for high end apps? So 8 whales are contributing 0.00005% of their literally free overnight lotto winnings to improve NXT?
I'll give it a few months until they shut down these ones too.
NxT was a crappy setup where anybody with good ideas had to beg from the whales and if the whales didn't like it then you never got funding. In most circumstances of funding, if they did give it out, it was like dust. That's not how you run a crypto currency. NXT never maintained momentum after its' initial success and today it is a coin of trolls and scammers. NxT's scam distribution led to scammers, hah.
So does this mean this no longer applies?:
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
Yes, the auction was cancelled a long time ago.
As far as I know there is a 25% and 75% split. Some of that 25% goes to main devs at launch and some goes to future main devs once they have completed some really nice features and leave beta and go into version 1. This is maybe a year from now. And some of the 25% will go towards creating marketing team strategy for a marketing team.
Of the 75% a ton of sock puppets were kicked out. I think we all agree that was a really good thing (except for the people with only 5 posts who are coming in here to complain). For literally months there was discussion to burn, redistribute, or put the funds towards special projects. Of course lots of people will pop into this thread at launch telling NEM devs what they "should" be doing with that money now that it is launch, but the reality is they gave no input before. After a lot of discussion that went on for months and votes by the community members that were actually active (not just for redeeming and dumping) it was decided to use funds from sock puppets to fund special projects which the numbers have been posted in here. These include some redistribution projects like node rewards and silver coins. Some development projects like hiring people to build professional quality phone apps (NEM devs are awesome programmers but they aren't app makers). And there is also a community fund where the community will vote on block chain for projects that the community wants. And lastly there is a plan to build a sustainable loop with XEM.
It should be noted while in the short term devs will have the extra money under multsig accounts. It isn't their money. No XEM will go into their pockets either directly or indirectly from the sock puppet funds. But by dividing it out via multisig everyone can feel safe that nobody will steal the money. For the money not be stolen, it means that only one need be honest. In reality it is probably the case that all the main devs are honest. Again scammers don't work so hard to introduce so many security features in a new platform.
Nobody wants to repeat NXT. I remember from 2013, and the posts are still there on the older NXT forum, of people having to beg the whales to make the whales richer *mind blown*, that is real greed when you're sitting on $4 million and can't even be bothered to help fund your own coin. On the contrary, most of the behaviour of the NXT whales (since day #1) was to dump and cash out their lottery winnings without any regard for the ecosystem or NXT's overall livelihood. That's why nobody is buying NXT anymore because as soon as it shows any signs of going up - the whales dump it back down.
Can you show some of these posts of greedy NXT whales refusing to donate? As someone who came later and reviewed the first six months of NXT in a few days my assessment is very different. NXT whales basically got the job done, that's why NXT is still hands down the best crypto to follow bitcoin. Who were the greedy ones?
Now you are in semantics (from past form, most likely wilful obfuscation from the main piont but...)
The devs are 'getting' 65% of the stakes as they will hold the keys to those stakes (presumably, I have asked twice to confirm). Are they being awarded 65% for themselves? No. Are they in effect holding control of 65% of all NEM? Yes, most certainly. Unless someone can say who else would be after launch.
Hardly an assertion, more a logical follow through of the facts we know
And as I have pointed out 4-5 times, it is the percentage that concerns people.
The devs are 'getting' 65% of the stakes as they will hold the keys to those stakes (presumably, I have asked twice to confirm). Are they being awarded 65% for themselves? No. Are they in effect holding control of 65% of all NEM? Yes, most certainly. Unless someone can say who else would be after launch.
Hardly an assertion, more a logical follow through of the facts we know
And as I have pointed out 4-5 times, it is the percentage that concerns people.
+1
35% - distributed to stakeholders on the final stakeholder list.
25% - reserved for the core development team to fund development of the NCC and NIS up to the release of V.1 of the blockchain.
25% - reserved for the core development team to fund development of the NCC and NIS after the release of V.1 of the blockchain.
11% - reserved for the extended development team; those who are working on promoting NEM and the NEM ecosystem.
4% - auctioned off at a later date.
You just have to put it in the right context and it will sound much better?
So does this mean this no longer applies?:
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
Yes, the auction was cancelled a long time ago.
So does this mean this no longer applies?:
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
Yes, the auction was cancelled a long time ago.
So does this mean this no longer applies?:
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
71% - distributed to stakeholders on the final stakeholder list.
4% - auctioned off at a later date.
Whether reduction of a fee for multi-sig in that case is possible when our price 1 XEM grows at the exchange? It would be very desirable that the payment for carrying out multi-sig transactions always was proceeding from the current market price of NEM.
And nobody is going to work for over a year so hard to just scam and run. Had that been the case, NEM would have been released last summer when the client and blockchain were already working with the Alpha client. But instead the devs added things like multisig and spam protection among many other features. Not exactly the work of devs that aren't in it for the long hual. (Both the multisig and spam protection were designed in a way so that they were a better kind of multisig and a new kind of spam protection. Two more big firsts on top of PoI and Eigentrust)
It is as simple as that:
There will be a multisignature account for funds. If all the cosigners decide to scam the community, the project is dead either way. Stop discussing that crap.
There will be a multisignature account for funds. If all the cosigners decide to scam the community, the project is dead either way. Stop discussing that crap.
Over at NXT two programmers are so amazing. They are Kushti and Jean Luc, one can argue that neither of these guys are given 1/10th of what they deserve. The fact is that when a coin is built, community after community has proven that nobody will donate any serious money to fund devs.
This leads us to major scams like Evan from Darkcoin instaming the coin and claiming it was an "accident" (really who instamines their coin on accident?) of other devs getting "hacked" and their money disappearing. I think it is great that they are setting some money beside and planning for who is going to fund development in a year from now. And this isn't a platform with just two talented devs or one, there are 5! Bitcoin itself really only has about 20 that contribute code. This is a huge deal!
Next a lot of XEM is immediately going right back into the hands of NEMsters. There will be node rewards; these aren't just fees collected by the large NEMsters that are forming blocks, but even small NEMsters that only have $20 in XEM will be able to equally get a reward for running a node. That is pretty cool. No POS coin to date has ever been able to keep enough nodes going with out serious begging by the devs to the community over and over to run nodes. But in NEM people will be lining up to run nodes.
Then there are other things like silver coins. That will be an asset given to the stake holders on the NEM AE which can be sold directly for XEM or redeemed for a real silver NEM coin.
And there will be a community fund where the community votes to see what projects will get funded, so again the money is in the hands of the community. No more will a great new dev coming into the system with a great idea have to beg whales to help find the new project. Instead the community can reward such a dev for milestones as the project is being built until it can generate its own money.
Some things that need to be funded are kind of obvious and everybody should agee that NEM needs those and would make more valuable so some XEM is already set aside. These are things like a professionally made iPhone and Android app made by an outside third party professional app making team. Apps like these directly go towards helping the community.
All around after NEM launches and all this FUD stops, what people are going to be left with is an amazing platform.
This leads us to major scams like Evan from Darkcoin instaming the coin and claiming it was an "accident" (really who instamines their coin on accident?) of other devs getting "hacked" and their money disappearing. I think it is great that they are setting some money beside and planning for who is going to fund development in a year from now. And this isn't a platform with just two talented devs or one, there are 5! Bitcoin itself really only has about 20 that contribute code. This is a huge deal!
Next a lot of XEM is immediately going right back into the hands of NEMsters. There will be node rewards; these aren't just fees collected by the large NEMsters that are forming blocks, but even small NEMsters that only have $20 in XEM will be able to equally get a reward for running a node. That is pretty cool. No POS coin to date has ever been able to keep enough nodes going with out serious begging by the devs to the community over and over to run nodes. But in NEM people will be lining up to run nodes.
Then there are other things like silver coins. That will be an asset given to the stake holders on the NEM AE which can be sold directly for XEM or redeemed for a real silver NEM coin.
And there will be a community fund where the community votes to see what projects will get funded, so again the money is in the hands of the community. No more will a great new dev coming into the system with a great idea have to beg whales to help find the new project. Instead the community can reward such a dev for milestones as the project is being built until it can generate its own money.
Some things that need to be funded are kind of obvious and everybody should agee that NEM needs those and would make more valuable so some XEM is already set aside. These are things like a professionally made iPhone and Android app made by an outside third party professional app making team. Apps like these directly go towards helping the community.
All around after NEM launches and all this FUD stops, what people are going to be left with is an amazing platform.
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