Why are there so many "newbies" on here trying to convince us to fund this project with 15 Million Xem?
Good catch! All of a sudden a bunch of newbies supporting a project for an unknown organization!
Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 442. (Read 2985369 times)
Good catch! All of a sudden a bunch of newbies supporting a project for an unknown organization!
I give you something to think about. A proposal from a year ago on the DASH page:
https://www.dashcentral.org/p/Vendor-Experience
The vendor machine they built was a really great thing and yes sure more than worth to be supported!!
Unfortunatly they asked about too much in the proposal which ended in a no vote and a rage quit.
At first glance it didn't look bad:
All they asked was 729 DASH a month for 8 years.
A bit more than a year ago this was just:
Monthly Amount 729.000 DASH (2,954.52 USD) (2,815.11 EUR)
Total Amount 72,171.000 DASH (292,497.56 USD) (278,695.95 EUR)
Total Payments 99
so 3000 dollars a month. Sure that had been ok. !!! It had been worth it!
---
Now just a year later the 729 Dash translate into
100'000 dollar per month !!
..and there had been 7 more years to go
----
https://www.dashcentral.org/p/Vendor-Experience
The vendor machine they built was a really great thing and yes sure more than worth to be supported!!
Unfortunatly they asked about too much in the proposal which ended in a no vote and a rage quit.
At first glance it didn't look bad:
All they asked was 729 DASH a month for 8 years.
A bit more than a year ago this was just:
Monthly Amount 729.000 DASH (2,954.52 USD) (2,815.11 EUR)
Total Amount 72,171.000 DASH (292,497.56 USD) (278,695.95 EUR)
Total Payments 99
so 3000 dollars a month. Sure that had been ok. !!! It had been worth it!
---
Now just a year later the 729 Dash translate into
100'000 dollar per month !!
..and there had been 7 more years to go
----
Why are there so many "newbies" on here trying to convince us to fund this project with 15 Million Xem?
Offtopic: Apparently you are a newb too that don't know how to edit a post...
Topic: Who can guarantee that they don't get away with the funds, 15M XEMs ain't low?
That's the reason why I suggested a waterproof contract beforehand (for instant NEM Foundation and XXX). This also should include a detailed compliance check when it comes to such a huge amount of XEM.
Why are there so many "newbies" on here trying to convince us to fund this project with 15 Million Xem?
Offtopic: Apparently you are a newb too that don't know how to edit a post...
Topic: Who can guarantee that they don't get away with the funds, 15M XEMs ain't low?
The value of a cryptocurrency imo does not derive from development, like it was a stock, but of usage.
I notice people in here seem to think that if you add 3 mio on development cost, that the value of the 'stock' goes up 3 mio. But htat is not the case. it will go up simply because nem gets more useful, and more people want to holds some. Therefore i would vote for the development project, because it is important to increase usage asap, and then we will laugh about the dev costs in a few years.
I notice people in here seem to think that if you add 3 mio on development cost, that the value of the 'stock' goes up 3 mio. But htat is not the case. it will go up simply because nem gets more useful, and more people want to holds some. Therefore i would vote for the development project, because it is important to increase usage asap, and then we will laugh about the dev costs in a few years.
If you look at Dash and their model of the masternodes voting on what to fund each month you can learn how to increase use and utility. Dash has a YouTube channel describing everything about development and progress etc. Their aggressive advertising has helped them brand their coin. They have paid outside companies to incorporate dash in their websites. Enabling fiat to dash.
Nem is a great platform but it could use some good advertising and videos explaining the utility. This should be done quickly because new platforms are evolving quickly. Dan Larimer has a new project called EOS that seems very similar to Nem.
Nem is a great platform but it could use some good advertising and videos explaining the utility. This should be done quickly because new platforms are evolving quickly. Dan Larimer has a new project called EOS that seems very similar to Nem.
We have been telling the Nem team to do some good marketing for years, but they just won't listen.
Pls NEM team, put this money into marketing instead of supporting this project!
A good marketing is much more important!
Marketing and the investment in the listing of XEM on the bigger exchanges as this attract people (without paying for marketing), too!
If you look at Dash and their model of the masternodes voting on what to fund each month you can learn how to increase use and utility. Dash has a YouTube channel describing everything about development and progress etc. Their aggressive advertising has helped them brand their coin. They have paid outside companies to incorporate dash in their websites. Enabling fiat to dash.
Nem is a great platform but it could use some good advertising and videos explaining the utility. This should be done quickly because new platforms are evolving quickly. Dan Larimer has a new project called EOS that seems very similar to Nem.
Nem is a great platform but it could use some good advertising and videos explaining the utility. This should be done quickly because new platforms are evolving quickly. Dan Larimer has a new project called EOS that seems very similar to Nem.
We have been telling the Nem team to do some good marketing for years, but they just won't listen.
Pls NEM team, put this money into marketing instead of supporting this project!
A good marketing is much more important!
Why are there so many "newbies" on here trying to convince us to fund this project with 15 Million Xem?
Long time lurker. Finally, something that is actually asking for community input, thought I would give some.
Why are there so many "newbies" on here trying to convince us to fund this project with 15 Million Xem?
True, that's remarkable.
But it won't change the outcome of a funding at all as most of the voting people are Nembers since the beginning ;-)
Why are there so many "newbies" on here trying to convince us to fund this project with 15 Million Xem?
If you look at Dash and their model of the masternodes voting on what to fund each month you can learn how to increase use and utility. Dash has a YouTube channel describing everything about development and progress etc. Their aggressive advertising has helped them brand their coin. They have paid outside companies to incorporate dash in their websites. Enabling fiat to dash.
Nem is a great platform but it could use some good advertising and videos explaining the utility. This should be done quickly because new platforms are evolving quickly. Dan Larimer has a new project called EOS that seems very similar to Nem.
Nem is a great platform but it could use some good advertising and videos explaining the utility. This should be done quickly because new platforms are evolving quickly. Dan Larimer has a new project called EOS that seems very similar to Nem.
We have been telling the Nem team to do some good marketing for years, but they just won't listen.
Since the NEM devs never disappointed us, I highly doubt that NEM's value will decrease in the near future but rather we could face the fact that a funding worth of 5 million XEM could be soon equal to 5 million USD!
I am hopeful that you are correct and that 5 NEM is worth 5 million, but even if that is the case. We need innovation to attain such lofty goals. These massive funds were set aside for this very purpose. I don't see the benefit in keeping them tied up.
More important questions were list above. Such as:
How does this increase the value of NEM?
How will the community benefit?
Will this broaden the potential adoption of NEM? etc etc etc
Questions like these are more important than the question of whether or not to use the funds, IMO.
If its for the development, I would actually allow the funds to be used, we might not wait for years for NEM to moon its demand. If you are to keep your NEMs anyway, you'd be patient to see price go up again. It started with less than a cent too.
Can't see any global benefit in this project.
Since the NEM devs never disappointed us, I highly doubt that NEM's value will decrease in the near future but rather we could face the fact that a funding worth of 5 million XEM could be soon equal to 5 million USD!
They have absolutely nothing to do with setting the price.
I know!
The thing is we should find a reasonable cap for funding in order to make sure that there is enough remaining for each and every party that wants to create something for the NEM platform.
Since the NEM devs never disappointed us, I highly doubt that NEM's value will decrease in the near future but rather we could face the fact that a funding worth of 5 million XEM could be soon equal to 5 million USD!
They have absolutely nothing to do with setting the price.
One thing to consider is that we are all assuming that NEM is going to INCREASE in value, however, that is not a given. This organization is taking some risk that the NEM they gain from this work will not plummet and they will have received much less money than expected. Nothing is a given in this market. Just a thought.
Since the NEM devs never disappointed us, I highly doubt that NEM's value will decrease in the near future but rather we could face the fact that a funding worth of 5 million XEM could be soon equal to 5 million USD!
One thing to consider is that we are all assuming that NEM is going to INCREASE in value, however, that is not a given. This organization is taking some risk that the NEM they gain from this work will not plummet and they will have received much less money than expected. Nothing is a given in this market. Just a thought.
Another thought:
I'd like to suggest a capping for every project. Other projects that have been successfully funded by NEM community had a total of around 5 million XEM each (if I'm not mistaken).
Hence, what's about a limit per project of 5 million XEM.
(and under certain circumstances, the inventors can apply for more XEM, if they have reasonable arguments. However, this should just be a exception and not the rule).
I'd like to suggest a capping for every project. Other projects that have been successfully funded by NEM community had a total of around 5 million XEM each (if I'm not mistaken).
Hence, what's about a limit per project of 5 million XEM.
(and under certain circumstances, the inventors can apply for more XEM, if they have reasonable arguments. However, this should just be a exception and not the rule).
With all respect to Albert and Atraura Organization, I am totally and completely against funding any third party organization using NEM funds. NEM funds should only get spent to expand the NEM dev team internally "NOT EXTERNALLY". Any third party organization can create their own crowd funding away from NEM dev funds.
Totally agree with this! Only internal use!That's ridiculous. There aren't very many of them and they're busy people and not exactly the most reactive or accessible bunch. There's a mountain of money waiting to be used to improve NEM. If an outsider can do it then it should be allocated. Ideas come from everywhere.
I have no clue or opinion about this project, but for instance the upcoming Trezor integration comes from an outside programmer. He did a deal and is being paid by developer funds as far as I know. It's a vast benefit to everyone that wouldn't otherwise have happened.
And this project isn't asking for all the funds upfront anyway.
I would argue that this is a critical time in the history of NEM. Many cryptos are racing to become the chosen Blockchain/coin, innovation at this juncture will help drive adoption. If no one adopts NEM it doesn't matter if we have 1 trillion in the DEV fund if no one is using it. I say go for it.
There were few good points ...
Basically, I would not reject new devs, because they are coming "outside" of NEM.
But the another issues are
a) the possible benefits to NEM
b) the costs
To evaluate the possible benefits, there are needed good examples of the use cases, etc. 5 days is quite short time to study and understand them well enough.
To evaluate the costs there are 2 ways:
how much coding work (men months) the project requires or/and
how much NEM community values the possible benefits.
Totally agreed on all your points
Agreed!!
All the major points should be set in stone by a waterproof contract as we're not talking about a giveaway of 50USD.
With all respect to Albert and Atraura Organization, I am totally and completely against funding any third party organization using NEM funds. NEM funds should only get spent to expand the NEM dev team internally "NOT EXTERNALLY". Any third party organization can create their own crowd funding away from NEM dev funds.
Totally agree with this! Only internal use!That's ridiculous. There aren't very many of them and they're busy people and not exactly the most reactive or accessible bunch. There's a mountain of money waiting to be used to improve NEM. If an outsider can do it then it should be allocated. Ideas come from everywhere.
I have no clue or opinion about this project, but for instance the upcoming Trezor integration comes from an outside programmer. He did a deal and is being paid by developer funds as far as I know. It's a vast benefit to everyone that wouldn't otherwise have happened.
And this project isn't asking for all the funds upfront anyway.
I would argue that this is a critical time in the history of NEM. Many cryptos are racing to become the chosen Blockchain/coin, innovation at this juncture will help drive adoption. If no one adopts NEM it doesn't matter if we have 1 trillion in the DEV fund if no one is using it. I say go for it.
There were few good points ...
Basically, I would not reject new devs, because they are coming "outside" of NEM.
But the another issues are
a) the possible benefits to NEM
b) the costs
To evaluate the possible benefits, there are needed good examples of the use cases, etc. 5 days is quite short time to study and understand them well enough.
To evaluate the costs there are 2 ways:
how much coding work (men months) the project requires or/and
how much NEM community values the possible benefits.
Totally agreed on all your points
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