Topic: [NRS|NoirShares] POW ENDING at 50k | DACs | MANDATORY WALLET UPDATE 6/23/2014 - page 50. (Read 141638 times)

Folks, we're a bit busy preparing payouts for general fund members, but we're still getting ready for our next software release as well. Current trends are for anon functions and many coins are jumping on the hype, but we do not believe it is necessary. True anonymity comes from the user, not the software. BTC is already anonymous enough. Our focus remains the same as before, making the most productive altcoin system possible, bringing cryptography to the people, not the other way around.

Hyz

looking at the movements of different coins on different exchanges, like MRO, QCN, XC, I wonder why NRS is still underestimated. In my opinion it should be at least 0.01 BTC by now (and that is still under the real value compared to other coins). So still a lot of room for growth!!

I certainly hope that 0.01 is in the future.

I bought a 1k coins and will be holding onto those very tightly.

looking at the movements of different coins on different exchanges, like MRO, QCN, XC, I wonder why NRS is still underestimated. In my opinion it should be at least 0.01 BTC by now (and that is still under the real value compared to other coins). So still a lot of room for growth!!

Hi sirsmokesalot,

Honestly?  We are still figuring out the best way to distribute to the NRS holders.  There are a couple options but I think the one we are currently looking at is as follows:

1.  We announce that we are taking a snapshot of all the NRS at a specific time

2.  Everyone moves coins from the exchanges to their wallets at a certain time.

3.  We take a snapshot.

4.  On the new wallet of whatever new chain we have created, we get people to 'import' their existing keys to that new wallet to access the new tokens.

There are other options but this is currently the easiest.

To answer your question, if you bought 9% at the last minute you would get the extra share of the new project.  This would however likely drop the price of NRS after the snapshot as people know the NRS now no longer includes the product.

Let me know if you have any additional questions,
Logan

I appreciate the reply. This does help to aide my confusion a bit. It will be interesting to see how things pan out.

My only really big question left is how that 20% might be distributed among the nrs holders. The 5 million coins mentioned in the initial posting was for POW, what about POS? How many Total coins are we looking at? Or is that number constantly evolving as the Pow takes place at a constant? How do you determine who is entitled to that 20%? People who day trade are going to get screwed where long term holders are rewarded? (i don't day trade so that is fine by me, if anyone was curious) How do you determine which holders of nrs get that 20%? If i hold 1% of total nrs then i would expect 1% of that 20% based upon the information. Let's say last minute, before payouts i buy up 9% more to get more payout from the distribution, so now i am at 10% nrs, and get 10% of that 20%, but then sell them off back to my comfy 1% holding. Is that working as designed then or will it work in another manner? Thanks again!

By popular request, I have set up a general fund buy/sell worksheet here:

https://docs.google.com/spreadsheets/d/116mEoEt418tKZk3eJL39n6Lfw0sWLWTcmyij4TAITI4/edit#gid=0

Hi SirSmokesALot,

As the "financial guy" for Noir Group, I felt that I could clear up some confusion regarding the future ownership of projects.  

Each project will have it's own distribution, this can vary greatly depending on the initial investment, how much 'General Fund' (our intinvestment went into it, how much additional funding is required, etc.

For example,
If we have a big project that we have put 10 BTC into and we think we will need an additional 10 BTC then we are likely to do an IPO.  Keep in mind that we will not do an IPO on every project, just the few big projects that will require a lot of additional capital that we can't self fund.

So we will have a distribution something like 20% general fund 20% NRS 20% IPO and 40% mining.

The 20% for the general fund will go to funding the development team as well as rewarding the general fund owners (angel investors). 

The 20% for NRS will be based on just holding NRS in your wallet so just having NRS will entitle you to that share.

The 20% IPO will consist of us posting a thread to Bitcointalk.org inviting the general public to invest in that specific project.  In order to invest in that specific project, the general public will need to contribute NRS to a specific address with that 20% being distributed based on that percentage.  

The 40% mining will go to supporting the network.  

So basically you are both right, please let me know if you have any questions.

Regards,
Logan

Hi SirSmokesALot,

As the "financial guy" for Noir Group, I felt that I could clear up some confusion regarding the future ownership of projects.  

Each project will have it's own distribution, this can vary greatly depending on the initial investment, how much 'General Fund' (our intinvestment went into it, how much additional funding is required, etc.

For example,
If we have a big project that we have put 10 BTC into and we think we will need an additional 10 BTC then we are likely to do an IPO.  Keep in mind that we will not do an IPO on every project, just the few big projects that will require a lot of additional capital that we can't self fund.

So we will have a distribution something like 20% general fund 20% NRS 20% IPO and 40% mining.

The 20% for the general fund will go to funding the development team as well as rewarding the general fund owners (angel investors). 

The 20% for NRS will be based on just holding NRS in your wallet so just having NRS will entitle you to that share.

The 20% IPO will consist of us posting a thread to Bitcointalk.org inviting the general public to invest in that specific project.  In order to invest in that specific project, the general public will need to contribute NRS to a specific address with that 20% being distributed based on that percentage.  

The 40% mining will go to supporting the network.  

So basically you are both right, please let me know if you have any questions.

Regards,
Logan

So pretty much what i was saying, not like stocks at all, as i use my nrs coins to THEN buy stocks in future projects. According to your quote, that is still how things work. Explanations are incoming i am sure.

I love everything the coin represents, it IS the future. I am here to make money, why are YOU here?

That being said, i never understood the stock thing, as i said. Of course by just holding the coin you benefit from any increase in value any dacs might give the coin. Is any type of money they make, i guess from trading fees and what not, then distributed back to those holding coins based upon the number of coins they hold? How do they know who is holding what coins? With the coins being traded constantly, do they look at an average coin balance on wallets? How is that all worked out?

This coin is one of the most promising coins out there and it didn't have a stupid huge ipo or anything.

"There are many ways to benefit from your participation in NRS. Holding NRS gives you ownership rights in future DAC/DAS and other ventures developed by Noir Group."

When i read that, what i interpret is that it gives me an opportunity(right) to buy into future dacs, much like the initial offering for the general fund.

I did go back and reread the initial posting, "TL;DR ? - Simply put, NRS is to stocks what Bitcoin is to money. It's a bit more complicated than that, but for now it's a good way to think about it." Well now it is getting time to get good and complicated about how all of this works. It all sounds good, but it would be nice to know how it actually works.

And actually, right here man, i know i am not just pulling shit from the ether:


So pretty much what i was saying, not like stocks at all, as i use my nrs coins to THEN buy stocks in future projects. According to your quote, that is still how things work. Explanations are incoming i am sure.