Post
Topic
Board Announcements (Altcoins)
Re: [ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official
by
OCP
on 08/09/2015, 13:48:44 UTC
Maybe not you, but rizzlarolla did.

neucoin Project,

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.)

This is like discussing Fortune 500 CEO pay. Is it really FAIR that they make as much as they do? A gazillion times more than a nurse or a school teacher? No, you probably can't argue that. But if the stock goes up and all shareholders make money too, then they're okay with it. If the stock goes down, then shareholders are not okay with it.

I think it's the same for neucoin, it all depends on how it goes. Either it works and all coin holders make money and it doesn't matter if the creators made 10 or 100 or 1000. Or it doesn't work and then nobody's coins are worth anything anyways.