Re: [ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official
neucoin Project,
ok, copy and paste, I love it.
Pretty clear most of that,(putting Althouse aside) I have read the wiki.
ok, couple of things from "Role of Founders and Project Team" paragraph,
"Upon creating the decentralized crypto currency,..."
I thought neucoin was not decentralized for another 5 years? When foundations are expected to own less than 50 %. It's not decentralized at creation is it? I thought neucoin were saying "ultimately decentralized" these days?
and,
"200 million sale-restricted coins are retained by the founders and other members of the NeuCoin Project team in exchange for contributing over $1,000,000 of unpaid work from March 2014 through the time of launch in the summer of 2015 (value of $.005 per coin)."
It's a tough sum to work out. For simplicity, if neucoin stayed at approx 1c all year, how much $ value will have been paid? Around $4m is it? For $1m work.?
and,
"The foundations have set aside an additional 300 million sale-restricted coins (plus PoS awards earned on these coins) to release to the founders over the three years following launch as compensation for their providing an additional $2.25 million of unpaid work (value of $.0075 per coin)."
Again, a tough sum. For simplicity, if neucoin stayed at approx 1c for three years, (and voting mech conditions were met) how much $ value will have been paid? Around $12m is it? For $2.25m of work?
Don't forget what Dart said, " I'm concerned as to why you plan to pay the founders after the launch at the value of $0.0075 per coin. Before creation I understand getting it at $0.005. But to get paid at a value under presale prices after launch seems wrong to me."
And being "paid at launch" for work 2-3yrs away has a multiplying effect. The $0.0075 valuation has no meaning or relevance? (in effect you are paid neucoin at $0.0015 ish at yr3. I havn't done the math.)
And, last bit,
" Note that if the foundations fail to institute the voting mechanism described below within one year of launch, the founders forfeit their rights to receive the remaining 200 million coins."
Does that include the stake rewards from day 1 on those 200m neucoin?
(thats a lot to be voting on x3 but..)
Also, is the voting mechanism going to be email based or crypto based? If not known, is email likely? Is email within the conditions of reward? Is the voting mech part of the reason behind 1 address per myneucoin?
(the council hire / fire and 3yr /1yr bit is confusing. can you check if you think it is clear, I'll look again?) And that's it.
So, just a few clarifications here please, and we are all good? hopefully we can then do the freemium verification process?
Oh btw, Dart did ask a while ago "Will the expected expenditures for the year be released at launch?" So,..
If anyone is worried about Dart. He was seen, but not heard on neucoin forum, a few hours ago.
Is he clearing his desk?
ok, copy and paste, I love it.
Pretty clear most of that,(putting Althouse aside) I have read the wiki.
ok, couple of things from "Role of Founders and Project Team" paragraph,
"Upon creating the decentralized crypto currency,..."
I thought neucoin was not decentralized for another 5 years? When foundations are expected to own less than 50 %. It's not decentralized at creation is it? I thought neucoin were saying "ultimately decentralized" these days?
and,
"200 million sale-restricted coins are retained by the founders and other members of the NeuCoin Project team in exchange for contributing over $1,000,000 of unpaid work from March 2014 through the time of launch in the summer of 2015 (value of $.005 per coin)."
It's a tough sum to work out. For simplicity, if neucoin stayed at approx 1c all year, how much $ value will have been paid? Around $4m is it? For $1m work.?
and,
"The foundations have set aside an additional 300 million sale-restricted coins (plus PoS awards earned on these coins) to release to the founders over the three years following launch as compensation for their providing an additional $2.25 million of unpaid work (value of $.0075 per coin)."
Again, a tough sum. For simplicity, if neucoin stayed at approx 1c for three years, (and voting mech conditions were met) how much $ value will have been paid? Around $12m is it? For $2.25m of work?
Don't forget what Dart said, " I'm concerned as to why you plan to pay the founders after the launch at the value of $0.0075 per coin. Before creation I understand getting it at $0.005. But to get paid at a value under presale prices after launch seems wrong to me."
And being "paid at launch" for work 2-3yrs away has a multiplying effect. The $0.0075 valuation has no meaning or relevance? (in effect you are paid neucoin at $0.0015 ish at yr3. I havn't done the math.)
And, last bit,
" Note that if the foundations fail to institute the voting mechanism described below within one year of launch, the founders forfeit their rights to receive the remaining 200 million coins."
Does that include the stake rewards from day 1 on those 200m neucoin?
(thats a lot to be voting on x3 but..)
Also, is the voting mechanism going to be email based or crypto based? If not known, is email likely? Is email within the conditions of reward? Is the voting mech part of the reason behind 1 address per myneucoin?
(the council hire / fire and 3yr /1yr bit is confusing. can you check if you think it is clear, I'll look again?) And that's it.
So, just a few clarifications here please, and we are all good? hopefully we can then do the freemium verification process?
Oh btw, Dart did ask a while ago "Will the expected expenditures for the year be released at launch?" So,..
If anyone is worried about Dart. He was seen, but not heard on neucoin forum, a few hours ago.
Is he clearing his desk?