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Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1984. (Read 2984135 times)

hero member
Activity: 644
Merit: 500
You DON'T know how many unclaimed stakes there will be, so it's just speculation.

No we don't, but there should a contingency plan now if the unclaimed stakes are too high.  My suggestion was to distribute them equally to stakeholders.

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Also you haven't answered to any of my posts, so I don't feel obliged anymore to answer yours.

Was there a direct question directed at me? Please repost it then.
hero member
Activity: 767
Merit: 500
Never back down !!!
What to do with unclaimed coins has not yet been decided. One proposal from a few weeks ago that UP made internally was that we use it for trying to get some full-time devs, but nothing is decided completely.

Why not just distribute the coins to all stakeholders equally?

There is plenty of coins left for development -- 10% is 400 million Nem plus all the BTC you will have with the auction and first  IPO?

Okay, I will help you out.

Proposal 1: distribute refunded stakes equally to all stakeholders (this has to be original stakeholders because it seems to complicated to do this with NXT assets I think?)
Pros: Easy to understand and all the original stakeholders benefit, not just a few (this is a good point!).
Cons: Doesn't allow new people to enter the community, sockpuppets will also benefit, and there will be less funding for pay for promotion and development, which will also hurt everyone.

Any other arguments that could be added?
Other proposals?

of course not to the stakeholder list.
You can just increase the coins per stake. simple math, simple distribution.
legendary
Activity: 866
Merit: 1002
i can;t be bothered to have a petty argument about something i don;t really care about,
just stop trolling the  NEM  thread

How am I trolling? I am raising a legitimate question that if there are too many unclaimed stakes, Nem would be one of few coins like ripple with 50% or more coins either locked up or controlled by insiders.

How is that trolling?

You DON'T know how many unclaimed stakes there will be, so it's just speculation.

Also you haven't answered to any of my posts, so I don't feel obliged anymore to answer yours.
hero member
Activity: 644
Merit: 500
i can;t be bothered to have a petty argument about something i don;t really care about,
just stop trolling the  NEM  thread

How am I trolling? I am raising a legitimate question that if there are too many unclaimed stakes, Nem would be one of few coins like ripple with 50% or more coins either locked up or controlled by insiders.

How is that trolling?
legendary
Activity: 910
Merit: 1000
some arguments don;t need evidence, if its logically so god damn obvious

You actually made  a statement that he owns 30%, breaking his own rule on 1 BTC, just like Utopian, this isn't a logical argument but a speculation. How do you know Utopian does own 60%? You should get back to Nem topic because as far as I am concerned Nxt IPO was simple, with everything distributed according to stakeholders, in an IPO that was open for 2 month, with no special stakes reserved for anyone. That's a public record on BTT forum as that original IPO thread still exists.  

great,
its obvious he put in atleast 1, i am not sure if he put more than one, that is speculation

i didn;t make a statement, i said

'how do we know he doesn;t own 30% +'
which actually isn;t a statement, its a question

and even if he didn;t break his own rule,
he might have gotten his mother, sister, brother, familly to put in one each, which means he wasn;t breaking  his rule
and to be honest that wouldn;t be a problem, as he wrote the code

but anyways,

i can;t be bothered to have a petty argument about something i don;t really care about,
just stop trolling the  NEM  thread
hero member
Activity: 644
Merit: 500
some arguments don;t need evidence, if its logically so god damn obvious

You actually made  a statement  that he might even own 30%, breaking his own rule on 1 BTC, just like Utopian, this isn't a logical argument but a speculation. How do you know Utopian does own 60%? You should get back to Nem topic because as far as I am concerned Nxt IPO was simple, with everything distributed to stakeholders, in an IPO that was open for 2 months, with no special stakes reserved for anyone, and same rules for everyone.  That's a public record on BTT forum as that original IPO thread still exists.

Now lets get back to Nem.  
legendary
Activity: 910
Merit: 1000
Yep, BC next writes the code, and decides not to put in 1 + (5%) bitcoin in his creation, after making a claim that he would eat his hat if the coins wasn;t worth alot of money within 6 months Roll Eyes
how do we know that he doesn;t own 30 % +?Huh
we don't
this is at least transparent

How do you know Utopian doesn't own 1500 of 2800 stakes? Arguments without evidence are not arguments.  There is no evidence that BCNext put 1 BTC, but even if he did,so what? Everyone was free to put 1 BTC. There were no special rules for the developer. Everyone was free to use sock puppets (if there are any).  Everything was distributed equally to stakeholders who put BTC, with zero development stake, and IPO was open for 2 months. Everything was transparent as anyone can check original thread, and the nxt blockchain and the blochchain.info hashes to confirm everything.



some arguments don;t need evidence, if its logically so damn obvious

utopian owned 60 stakes i believe?? i think i read it somewhere

hero member
Activity: 644
Merit: 500
Yep, BC next writes the code, and decides not to put in 1 + (5%) bitcoin in his creation, after making a claim that he would eat his hat if the coins wasn;t worth alot of money within 6 months Roll Eyes
how do we know that he doesn;t own 30 % +?Huh
we don't
this is at least transparent

How do you know Utopian doesn't own 1500 of 2800 stakes? Arguments without evidence are not arguments.  There is no evidence that BCNext put 1 BTC, but even if he did,so what? Everyone was free to put 1 BTC. There were no special rules for the developer. Everyone was free to use sock puppets (if there are any, even though sock puppets for IPO was not a trend back then).  Everything was distributed equally to stakeholders who put BTC, with zero development stake, and IPO was open for 2 months. Everything was transparent as anyone can check original thread, and the nxt blockchain and the blochchain.info hashes to confirm everything.

legendary
Activity: 910
Merit: 1000
yep, pretty sure 5 % share went to developers involved who basically put in 1 bitcoin and recieved 50 million coins,

Everyone was free to deposit 1 BTC. Rules were the same for everyone. (even though there is no evidence BXNext put 1 BTC).

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who then decided to arubtly  close off the auction
whereas only 2 % is going to developers, and the rest has been distributed

The IPO was open for 2 fucking month -- a lot longer than Nem IPO.




Yep, BC next writes the code, and decides not to put in 1 + (5%) bitcoin in his creation, after making a claim that he would eat his hat if the coins wasn;t worth alot of money within 6 months Roll Eyes
how do we know that he doesn;t own 30 % +?
we don't
this is at least transparent

legendary
Activity: 1596
Merit: 1000
I am not Dorian Nakamoto.
Guys, this isn't the NXT thread, so no reason to compare ourselves to them.

We are trying to build a NEW economy here  Wink

Also, I should mention that people don't want AE tokens because they don't want to dump their stakes.
hero member
Activity: 644
Merit: 500
yep, pretty sure 5 % share went to developers involved who basically put in 1 bitcoin and recieved 50 million coins,

Everyone was free to deposit 1 BTC. Rules were the same for everyone. (even though there is no evidence BXNext put 1 BTC).

Quote
who then decided to arubtly  close off the auction
whereas only 2 % is going to developers, and the rest has been distributed

The IPO was open for 2 fucking month -- a lot longer than Nem IPO.

hero member
Activity: 644
Merit: 500

You are calculating the 50% with the assumption that 25% will unclaimed stakes. That nothing but an assumption. NXT had that many so what ?

How  many people out of 2800 have claimed token on Nxt AE so far?  I don't think you have reached even close to 1000 after almost a month.  I know some don't want AE tokens, but given you couldn't even reach 1000 says a lot about what is going to happen after the launch

What if the number is even greater than 25?

We should then officially rename Nem to ripple 2.0


legendary
Activity: 910
Merit: 1000
Better than NXT

Nxt was pretty simple and uncomplicated. Open & public IPO and every single Nxt was distributed to all stakeholders who put BTC with zero development stake.



yep, pretty sure 5 % share went to developers involved who basically put in 1 bitcoin and recieved 50 million coins, who then decided to arubtly  close off the auction
whereas only 2 % is going to developers, and the rest has been distributed
if you saying the NXT distribution is fairer, you are just trolling
hero member
Activity: 644
Merit: 500
Better than NXT

Nxt was pretty simple and uncomplicated. Open & public IPO and every single Nxt was distributed to all stakeholders who put BTC with zero development stake.

legendary
Activity: 910
Merit: 1000
It sounds like you really just want more coins. Don't beat around the bush.

As opposed to 8 insiders who want to control 50% of the coins?  And that's the great "fair distribution"?



Better than NXT
hero member
Activity: 980
Merit: 1001
It sounds like you really just want more coins. Don't beat around the bush.


As oppose to 8 insiders who want to control 50% of the coins?  And that's the great "the fair distribution" of the coin?

Why not rename Nem to aurora if that happens?

You are calculating the 50% with the assumption that 25% will unclaimed stakes. That nothing but an assumption. NXT had that many so what ?
We noticed your concern and we'll think about how best to proceed. You can stop posting FUD now.

legendary
Activity: 866
Merit: 1002
My points are pretty clear,. What exactly do you not understand? We have 25% of stakes controlled by a few people known as "developers" and co.

It seems like you deliberatly ignore what I'm saying.

Regarding 4) Unclaimed stakes will most likely become community managed fund (but we'll probably give people 2 months after launch to claim them)

Some additional information

1) as makoto said it's 10% not 15%, 5% is promotion/ecosystem
2) both developer accounts and promotion/eco will be GUARDED by Nem Business Rules, that means, that NEMs will be released SLOWLY during long period of time, so devs simply WON'T be able to "dump it all"
3) 10% post v1 development reserve will be LOCKED using Nem Business Rules, and NO ONE will be able to TOUCH those funds before V1 completion
hero member
Activity: 644
Merit: 500
It sounds like you really just want more coins. Don't beat around the bush.

As opposed to 8 insiders who want to control 50% of the coins?  And that's the great "fair distribution"?

hero member
Activity: 617
Merit: 528
A NEM cubesat in low orbit would be around 80.000$. NASA does these things for free sometimes if it serves a purpose though.
member
Activity: 75
Merit: 10
What to do with unclaimed coins has not yet been decided. One proposal from a few weeks ago that UP made internally was that we use it for trying to get some full-time devs, but nothing is decided completely.

Why not just distribute the coins to all stakeholders equally?

There is plenty of coins left for development -- 10% is 400 million Nem plus all the BTC you will have with the auction and first  IPO?

It sounds like you really just want more coins. Don't beat around the bush.
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