Topic: The NEM Project - The journey starts here (Read 812 times)

I must say that NEM is well funded now given its value of about 20K NXT * 1,000 * 0.00012 BTC = 2,400BTC. That works out to be a hefty sum of $1.44M to do a lot more. Of course one can say that the core team should deserve the bulk of it. I am not disputing that. What I am merely saying is that there is enough to do a bit of promotional work with it.

I also agree with you that developers can hide behind, but there needs to be a leader among all. He or she does not need to be a developer, just an honest bloke who is willing to face the world. But still there needs to be some comfort at the end of the day that the development of the solution is not out to cheat. And that means open sourcing it to the world to prove that the codes are indeed safe.

Much need to be done to shape this. I like the professionalism and set up of ethereum. Nevermind if it is not rolled out yet. But have a look at their website and have a look at the contributors and advocates. They are all there for you to see.

Put it this way, I for one is willing to stick my neck out and champion this without any reservation if there is enough transparency in the game. Simple as that. And I don't even have a free NEM stake start with. I will if I am given enough visibility on the project. After all I have been through the dot com boom and I am willing to come out of my retirement to at least be part of another big thing that is going to change our lives.

Hi utopianfuture,

I wonder if you would read the following, and tell me if I am way out left field, or if you see some of these ideals possibly realizing in NEM?

I was wondering: how do we get a system of distribution, where the initial crowds are not necessarily getting all the benefits of the money, directly after it had been created?

I find myself chanting this mantra:  "Every human  -  One stake  -  One time  -  Any time."

I would like to see a system where my children would get their stake when they get old enough.
I would like to see a mechanism whereby every new account that is created for a person, comes with it's full stake of coins for that unique, adult, human being.

The mechanism to create a new account for a human, relies on a process that is initiated by lets say two or three mature accounts, Let's call them 'bankers'.
They have to verify that this is a live, unique human, with no other or no previous accounts.
This process of generating a new account, is where the forging or 'mining occurs and new coins are created.
The initiating accounts (bankers) get a reasonable fee for starting up the new account, but the majority of the newly forged money is residing in the new account.
(There is nothing preventing the new account holder enticing the bankers with some payments outside of the currency for the startup).
I think that any account should only be allowed to be a banker a certain amount of times. How about once for every finger(print) - ten times?

The process for a new account to mature into a 'procreating banker' can be linked to certain economic activity - some proof of work or proof of stake, or proof of participation in the economy.

The main arguments for such a system would be:
The creation of money is not only favoring the initial group that get exposed to it early on, because it is created as people enter the currency.
The ratio of coins to humans stays the same, even generations from now.

The main argument against such a system is that nobody here in cryptoland likes the idea of uniquely identifying a human.
(And that would be an important part in any system that wants to give each human one, and only one stake.)
And, let's not forget our greed: many are wondering at how can I leverage things in my favor?

Nevertheless, I wonder, is it possible to incorporate something like this into the block-chain algorithm of a crypto currency?

Maybe I see things too simplistic. That could be.  I see some parallels to the biologic world. Well, I have no economic training, working in the health care field.

Anyways, thanks for your time.

Pentamon

It was my understanding that BCNext was and is anonymous.  Putting together enough donations to have a representative show up at a conference is not the same.

Ethereum isn't really valid since it isn't a product yet ?  Yes, they've marketed well.  I am not sure how they are funded, but not everything is equally possible given the limitations of the funding model.

I don't disagree with your general sentiment, I'm just telling you that the leader of all coins if pretty much the lead developer.  If you want top notch dev talent, you can't expect them to put their name out there so they can be swatted or worse.

I am not sure about your last statement but I believe NXT is well represented and "identified". https://xrptalk.org/topic/3116-nxt-goes-mainstream-payexpo-sms-payments-atms-nxtcafe-and-market-gains/

Most "anonymous" coins after the first few coins tend to go into oblivion. A classic case of high visibility is ethereum. They have been upfront with all their cards opened in the first place. Look where they are now. Nevermind if it is vaporware or not. It has yet to be seen. Fact is, they have opened their cards and stripped themselves naked for all to see. What's more satisfying to know as a result of that is that you have a huge following of developers contributing.

Besides, if we have a face to a name, this can be promoted on the ground rather than purely virtual as is now. Further, in this game we are playing, there has been too many scams and therefore trust is of utmost importance. Whatever it is, our leader who resigned had not been forthcoming with his honesty. And that's when it is more important now than ever that we need to have a name to the face of the new leader and not just some pseudonym. That can only make matters worse.

This is a thoughtful post.  I tend to agree with it, but most of the leaders are going to be developers.  Who knows what reasons they have for being anonymous.  We can't really expect them to put their identity out there for the world to screw with.  It would be nice if there was more upside for a person than downside, but just look at how a team of trolls appeared and spent all day (June 12th) attacking UF and NEM.  Now in the case of UF, he somewhat deserved it, but it isn't necessarily that smart to have your identity tied to a project.  NXT, BTC, PPC and others have all be quite successful with anonymous leaders/devs.