Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1986. (Read 2985503 times)

Let me address some of the issues.

Regarding dev fund, as of today UF already spend 10.5BTC for UI/UX. And the estimate is another 10btc till Aug.
The dev fund is controlled by dev team, the accounts are in first post.


There are/were two main reasons for public auction:

• get more stakeholder, to have 3000 stakes altogether,
• get funds for future work (mainly for external expenses),
• public auction would most likely be held AFTER BETA.

When it comes to me (and I think I express view of other devs too), I'm here for NEM, not for btc.
Whether public auction will be held (I think it should as it was promised), and how many stakes
will there be, is TBD. We will definitely take Eadeqa's fears and doubts into consideration.
(Give us few days time for some internal discussion)

Regarding 15%, keep in mind there is 400/100/100 split there, so it's not only dev but also promotion and ecosystem.

The 10% reserve, is supposed to go for FUTURE projects and it will be LOCKED (using NEM business rules).

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  

Eadeqa's concerns are valid. You don't want a killswitch in place like bitcoin (http://www.loper-os.org/?p=1009) or NXT. I think our devs are really great people and not just great coders, though, so I hope people can have confidence in the community.

Makoto1337 who codes > Eadeqa who . Suggestion to Eadega: make your own coin. Viva no envy movement 

Did you read this? https://raw.githubusercontent.com/makoto1337/NEMlogos/master/handout/page3.jpg

1) Until V1: core dev gets 10%, which is less than 2% per person (on average). 5% goes to marketing/ecosystem (these are roughly the numbers as UP has laid out before, but remember that distributions of the 15% are up to the discretion of the core team)
2) After V1: 10% of NEM released over time, on average 10% every two months. This is for development and marketing for NEM.

What to do with unclaimed stakes is still being debated, but it is likely they will be used for paying for developing and marketing post-V1.

To be serious and promote NEM and build projects to support everyone, I think it is very reasonable to do the distribution like it is planned. I seriously doubt any of the core devs will dump their stakes. Why would we want to destroy what we created?

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich very fast before the launch (or just after).

 Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.  

Those stakes are NOT worth 400 BTC because of your efforts as nothing is released. They are worth 400 BTC because of the entire community and supporter.

So let get this straight.

(1) You want 15% of stakes  -- that's 600 stakes for anyone not counting, or 600 million Nem --   (reserved 10% more for future)
(2) You want 66 BTC and several thousand Nxt that were collected during IPO
(3) Now on top of that you want to sell 200 more stakes before the launch for additional 400 BTC (which is essentially a second IPO)
(4) No definite statement made about what you will do with unclaimed stakes.

The whole thing is intended to make 8 "developers" rich.

Good luck to "rest" of the community since if developer dump even 50% of the 15% (300 million) it will tank the prices for all of you bought it on Nxt AE, while developers are already rich.

Money is used to pay for ecosystem dev, etc. Those stakes are only worth 400 BTC because of our efforts, so what is the problem?

Actually, i think the rationale behind alot of the "average joe" user goes a bit like this:

1. They read FUD in mainstream media which in often cases only reports on stories that are controversial or negative (on the subject of crypto's that is) - negativity is frequently good clickbait as people are more inclined to express outrage or negativity then they are praise. It's a human trait. (Although granted, Bitcoin deserves criticism in many respects, if it didn't, i wouldn't invest in non-PoW coins, however mainstream media tends to literally spread FUD when it deals with Cryptocurrency, largely through ignorance and a agenda, this leads to outright scorn, not criticism. )

2. The corresponding opinion as a result of mainstream media makes them uninterested or inclined to believe Crypto's are scams or unsafe - and in many respects, they're right. This forum is full to the brim of scamcoins. Even bitcoin, being still rather young, is volatile in terms of valuation -this makes it unsafe to stash away your hard earned savings/money in it.


With the above things in mind, NEM will likely struggle to make it into mainstream adoption unless it's able to market itself like Bitcoin did; on the allure of "money for nothing" or "mining". I for one think a few viral video's and some well placed, timed Facebook marketing is in order - but obviously on more honest and transparent principles.

The biggest thing going for NEM right now is it's rather large initial distribution - this gives it more security, and the more who already join in, the more secure it will become.

How about we use a large percentage of the auction proceeds to benefit Sean's outpost or another non-profit organization.  This would be a great public relations event.

Why wait? NEM has a strong community. Once the open alpha releases, the APIs will be made public shortly after. I hope the community can start building on top of NEM at that point while the core team is still focused on the core blockchain features.

Unfortunatly I'm not a programer, but I'm good in marketing and selling products.
Also, I'm creativ and dedicated.
My english is good and I have a great german in speech and writing which makes it no problem for me to organize several activities and stay in contact with different people, organizations or bloggers, etc. .
I'm following this coin nearly from the beginning. But at least from next week on, I'll have a lot of time in which I have the intention to introduce myself even more.
So is there anything left I could do for this coin on trello, when the time comes?
It's in the responsibility of us all to make NEM a success and to take care for our community.

Please join in and help us build things! Feel free to come on trello.

Very reasonable IMO. I am an early investor in Nxt and a stake holder in NEM and allow me to chime in my perspective here: Eadeqa's FUD is widely off the mark.

When Nxt was out of the genesis block there were a radom 8 people who held 5% of the total coin each. There were at least two other peope who sent the Btc twice or more and they had 5% of the total coin each too. Comparing to NEM current scheme in which the core dev. get about 2% for doing allmost all the works up to V1 blockchain (which is up to current Nxt blockchain specification as I understand).

I am questioning this Eadeqa's motive. He doesn't care that a random person holding 5% of Nxt but worry so much that a NEM core developer getting 2%? Isn't is suspicisous ? I would demand his explanation before considering any of his FUD request.

As a business owner and a technocrat myself, I believe in hardwork being rewarded. As a regular investor (in other businesses), I am always looking for the clues that the key people of that entities having proper incentives for doing a good job of running the show. As a NEM stakeholder, I think it is the best for NEM that the core dev. and other key peope in marketing and business having a sizeable chunk of NEM so that they have an interest in developing and building NEM for a longer term success.

Add: As a community, we have to treat our developers well. They are NEM founders and deserve to be treated as such.

If auction will be held, i hope that collected money will be used for the development process before the launch. In this case we need transparency and puplic vote system to determinate how the money will be spend and who is in charge of the process.

Go see the non-moderated where the shit hits the fan and you will see there is reason

I agree that things are a little bit too shady now about how the funds will be used. Many things have been decided by "the community", but in the end only a handful of people have had any influence to the decisions made.

I think that the decision making should be much more transparent. More voting on the official NEM forums (there should be more urging here on BTT to register there) and let the stakeholders have a say on how these reserved NEMs should be used in NEM's benefit. I agree on that we need a big fund to promote NEM, but we also need to be much more transparent about the use of this fund.

Also, how will be the BTC collected from the auction be used? Will this go to promotion fund, too?