Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 1990. (Read 2984910 times)

Quote from: jenea4pda on June 17, 2014, 04:15:16 AM

Anyway, what are your reasons fro opposing the auction?

Because it's a second IPO before the launch to collect even more money. The stakes should be divided equally among the current stakeholders.

Why you so worring about money?

I as a stakeholder am entitled worry, especially after the leadership has proven to be not honest. If this whole project is a money making scheme for just 8 people, lets say it straight.

Simakki

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Anyway, what are your reasons fro opposing the auction?

Because it's a second IPO before the launch to collect even more money. The stakes should be divided equally among the current stakeholders.

Why you so worring about money? what have exactly You done for this project??? may be NEM community have already hire you to count money or what???
This is not your money! Stop worring about this! this is not your problem at all-ok?

IMO about the auction. If NEM will do it we, we have to prepare determination about purpose of funding, just like a companies and start-ups do. These companies does not seek funding without clear plan or just for the puplicity. Newbie and possible investors will seek answers and ask questions related to purpose of funding. Without clear evidence and strategy, i'm pretty to sure that we'll here scam-screams and so on.

jenea4pda

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Iota and JINN

Anyway, what are your reasons fro opposing the auction?

Because it's a second IPO before the launch to collect even more money. The stakes should be divided equally among the current stakeholders.

Why you so worring about money? what have exactly You done for this project??? may be NEM community have already hire you to count money or what???
This is not your money! Stop worring about this! this is not your problem at all-ok?

xtester

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Activity: 840

Merit: 500

Risk taker & Black Swan farmer.

Anyway, what are your reasons fro opposing the auction?

Because it's a second IPO before the launch to collect even more money. The stakes should be divided equally among the current stakeholders.

Don't see any good reason there.

With 1) your are missing the point and 2) seems only in the short-term interest of the current stakeholders.

Eadeqa

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Quote from: nutildah on June 16, 2014, 06:04:27 PM

Anyway, what are your reasons fro opposing the auction?

Because it's a second IPO before the launch to collect even more money. The stakes should be divided equally among the current stakeholders.

mattadc

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Quote from: EvilDave on June 16, 2014, 06:01:17 PM

As a proud NEM stakeholder....blah, blah.....I still have one question:

Can anyone actually tell me wtf UP actually did ?
I've seen everything from "oh, it was only one sockpuppet he made by mistake" up to "UtopianFuture makes $100,000 sellling NEMstake, then disappears in a puff of smoke"

So I'm curious as to where the truth might be.....

In his words he said he had "a few" sockpuppet accounts, another source said he had 60, though I never saw any sort of justification for that number. So probably somewhere between 3 and 60. Some of the inside crew could probably shed some light on the subject.

In the forthcoming statement (by Jaguar?) could be clarified also the stakes-gate,
there seems to be a lot of open stakes
https://bitcointalksearch.org/topic/m.7317196

If the stakes are not marked to anyone then it is the question of the control:
who controls the money accounts, where are the collected "IPO" moneys, and who controls the stakes, which have not been delivered?

xtester

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Quote from: Eadeqa on June 17, 2014, 03:12:15 AM

Quote from: Eadeqa on June 17, 2014, 03:12:15 AM

The auction as you may remember emerged as an idea from the community(while NXT AE wasn't around and wasn't even a though) with the purpose to attract a good deal of attention and helping a lot of other people to join before our official launch(There was a high demand for it). After we did the NXT AE listing the auction remained in place because of the same reason and because it is still relatively hard for new people to buy NEM via NXT AE.

There is a big difference. Nxt AE trades are done among users. The auction money will again be controlled by the "developers". Why so much centralized money controlled by just a few people? That's in addition to 25% Nem that they will control and nothing yet known about what will happen to unclaimed stakes (could be 25% more -- potentially making total 50% controlled by a just a few).

If they want to do auction, how about doing it with their 15% of the stake (which is equal to 600 stakes a very big chunk)

Please refrain from unsubstantiated claims or speculation. As with everything until now, there will surely be a discussion about the unclaimed stakes.

The auction still seems to be in the best interest of the project and community.

You must remember that until now "developers" have done almost everything themselves and put an awful lot of hard work, while you and me have received a stake that is already almost 100x of what we payed.

As you can see we are going through some changes and still strive to solve all problems that emerge while focusing on what is really important: moving forward with the development and preparing for the alpha launch. I think we have had enough FUD the last couple of days, so the least we could offer the dev team is some support and understanding as a community while we move forward and try to solve problems with the best interest of the project in mind.

Anyway, what are your reasons fro opposing the auction?

kattokassinen

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Quote from: Eadeqa on June 17, 2014, 03:12:15 AM

The auction as you may remember emerged as an idea from the community(while NXT AE wasn't around and wasn't even a though) with the purpose to attract a good deal of attention and helping a lot of other people to join before our official launch(There was a high demand for it). After we did the NXT AE listing the auction remained in place because of the same reason and because it is still relatively hard for new people to buy NEM via NXT AE.

There is a big difference. Nxt AE trades are done among users. The auction money will again be controlled by the "developers". Why so much centralized money controlled by just a few people? That's in addition to 25% Nem that they will control and nothing yet known about what will happen to unclaimed stakes (could be 25% more -- potentially making total 50% controlled by a just a few).

If they want to do auction, how about doing it with their 15% of the stake (which is equal to 600 stakes a very big chunk)

I also agree with xtester on that the auction will give NEM great publicity. It should push NEM further. But there should be much more democracy on the way these funds are being used. I suggest that stakeholders would be urged to register on the official NEM forums, and have things decided by voting by the original stakeholders.

Simakki

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Activity: 697

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The auction as you may remember emerged as an idea from the community(while NXT AE wasn't around and wasn't even a though) with the purpose to attract a good deal of attention and helping a lot of other people to join before our official launch(There was a high demand for it). After we did the NXT AE listing the auction remained in place because of the same reason and because it is still relatively hard for new people to buy NEM via NXT AE.

There is a big difference. Nxt AE trades are done among users. The auction money will again be controlled by the "developers". Why so much centralized money controlled by just a few people? That's in addition to 25% Nem that they will control and nothing yet known about what will happen to unclaimed stakes (could be 25% more -- potentially making total 50% controlled by a just a few).

If they want to do auction, how about doing it with their 15% of the stake (which is equal to 600 stakes a very big chunk)

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.

Eadeqa

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Quote from: kattokassinen on June 17, 2014, 02:38:21 AM

The auction as you may remember emerged as an idea from the community(while NXT AE wasn't around and wasn't even a though) with the purpose to attract a good deal of attention and helping a lot of other people to join before our official launch(There was a high demand for it). After we did the NXT AE listing the auction remained in place because of the same reason and because it is still relatively hard for new people to buy NEM via NXT AE.

There is a big difference. Nxt AE trades are done among users. The auction money will again be controlled by the "developers". Why so much centralized money controlled by just a few people? That's in addition to 25% Nem that they will control and nothing yet known about what will happen to unclaimed stakes (could be 25% more -- potentially making total 50% controlled by a just a few).

If they want to do auction, how about doing it with their 15% of the stake (which is equal to 600 stakes a very big chunk)

xtester

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Activity: 840

Merit: 500

Risk taker & Black Swan farmer.

Quote from: Eadeqa on June 17, 2014, 02:18:45 AM

Quote from: Simakki on June 17, 2014, 02:08:28 AM

Quote from: crackerhead on June 17, 2014, 02:51:50 AM

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket at current prices.

If developers want 400 BTC more, why they also need 15% stake too (which is 600 million Nem)

Im thinking quite same, what is the purpose for collect more BTC ? Otherwise, could we use that money to big marketing campaign or made bounties to new devs ? Or just share all btc with old stake holders Grin

It's basically designed to collect even more money.

So first we had an IPO (which we are not supposed to call "IPO") that collected 60+ BTC and several thousand Nxt.

Then we will have a second IPO where 200 more stakes are "auctioned" again for even BTC, this time at muh higher prices (potentially 400 BTC).

Double the fun.

Then 15% developer stakes and 10% more reserved for future (25%) -- and no answer on what will happen to unclaimed stakes that could be as high as 25% more (making 50% controlled by "developers")

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?

Eadeqa, this is the reason why we had a call to participation and not an IPO: http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541972520#.U5_yiigVcSq, and it has very important legal implications. UP thought of this and lead us to this: http://en.wikipedia.org/wiki/Voluntary_association.

The auction as you may remember emerged as an idea from the community(while NXT AE wasn't around and wasn't even a though) with the purpose to attract a good deal of attention and helping a lot of other people to join before our official launch(There was a high demand for it). After we did the NXT AE listing the auction remained in place because of the same reason and because it is still relatively hard for new people to buy NEM via NXT AE.

Simakki

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Activity: 697

Merit: 500

Quote from: bitwhizz on June 17, 2014, 02:02:10 AM

Quote from: Simakki on June 17, 2014, 01:53:47 AM

Quote from: bitwhizz on June 17, 2014, 02:02:10 AM

i have some nem from the nxt exchange, now what do i do?

HODL

right, i got that,
but how do i claim my stake, my replies arn't being replied too
ibought from next exchange

It doesn't quite work like that. All you need to do is hold onto your stake, and after the official launch, you will trade your NEMtoken for NEM (1 token will equal aprox. 1,000,000NEM)

And with NEMtokens, you have to wait two weeks after launch to trade it to real NEM.

crackerhead

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My Head is a Ritz

Quote from: Simakki on June 17, 2014, 01:53:47 AM

Quote from: Eadeqa on June 17, 2014, 02:18:45 AM

i have some nem from the nxt exchange, now what do i do?

HODL

right, i got that,
but how do i claim my stake, my replies arn't being replied too
ibought from next exchange

It doesn't quite work like that. All you need to do is hold onto your stake, and after the official launch, you will trade your NEMtoken for NEM (1 token will equal aprox. 1,000,000NEM)

xtester

hero member

Activity: 840

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Risk taker & Black Swan farmer.

I see the patient is reacting well to the treatment. We are moving in the right direction.

kattokassinen

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Activity: 169

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Quote from: Simakki on June 17, 2014, 02:08:28 AM

Quote from: Simakki on June 17, 2014, 02:08:28 AM

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket at current prices.

If developers want 400 BTC more, why they also need 15% stake too (which is 600 million Nem)

Im thinking quite same, what is the purpose for collect more BTC ? Otherwise, could we use that money to big marketing campaign or made bounties to new devs ? Or just share all btc with old stake holders Grin

It's basically designed to collect even more money.

So first we had an IPO (which we are not supposed to call "IPO") that collected 60+ BTC and several thousand Nxt.

Then we will have a second IPO where 200 more stakes are "auctioned" again for even BTC, this time at muh higher prices (potentially 400 BTC).

Double the fun.

Then 15% developer stakes and 10% more reserved for future (25%) -- and no answer on what will happen to unclaimed stakes that could be as high as 25% more (making 50% controlled by "developers")

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?

Eadeqa

hero member

Activity: 644

Merit: 500

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket at current prices.

If developers want 400 BTC more, why they also need 15% stake too (which is 600 million Nem)

Im thinking quite same, what is the purpose for collect more BTC ? Otherwise, could we use that money to big marketing campaign or made bounties to new devs ? Or just share all btc with old stake holders Grin

It's basically designed to collect even more money.

So first we had an IPO (which we are not supposed to call "IPO") that collected 60+ BTC and several thousand Nxt.

Then we will have a second IPO where 200 more stakes are "auctioned" again for even BTC, this time at muh higher prices (potentially 400 BTC).

Double the fun.

Then 15% developer stakes and 10% more reserved for future (25%) -- and no answer on what will happen to unclaimed stakes that could be as high as 25% more (making 50% controlled by "developers")

Simakki

hero member

Activity: 697

Merit: 500

Quote from: Simakki on June 17, 2014, 01:53:47 AM

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket at current prices.

If developers want 400 BTC more, why they also need 15% stake too (which is 600 million Nem)

Im thinking quite same, what is the purpose for collect more BTC ? Otherwise, could we use that money to big marketing campaign or made bounties for new devs ? Or just share all btc with old stake holders Grin

bitwhizz

legendary

Activity: 910

Merit: 1000

i have some nem from the nxt exchange, now what do i do?

HODL

right, i got that,
but how do i claim my stake, my replies arn't being replied too
ibought from next exchange

Eadeqa

hero member

Activity: 644

Merit: 500

I oppose pre launch public auction, as that means 400 BTC IPO is going into someone pocket at current prices.

If developers want 400 BTC more, why they also need 15% stake too (which is 600 million Nem)

Simakki

hero member

Activity: 697

Merit: 500