Re: NEM (XEM) Official Thread - 100% New Code

It seems the devs are for this proposal which is positive. I think the more people working on NEM, the better for all.
I have a few questions though as i wont be around friday for the AMA.
What if the price of NEM drops 90% in the next few weeks. Where does the project stand then ?
I hate the voting system (importance wins and dev have control of a lot of it) and the short time frame allowed to investigate these proposals.
What happened to cryptoapex (50million funded) and why is Nembit86 pushing for this proposal as he is involved in cryptoapex (jabo38Mar '16
Beta has started via invite from CA members. If you are interested, please contact Niko or Nembit86)

You are right. It's all a waist of the funds. Where did the 50 million go to? Do you know how much that is right now? Huh

??

I'm really scared that the funds get shared amongst a few people (including the developers) behind our backs without them delivering a real useful product. Is this their way of getting their hands on the funds for personal gains?

The cryptoapex is not working and it has an inactive twitter page with 25 followers. And 10 Likes on FB with the last message more than a year ago saying limited testing? Huh

??

Nembit86 why would you start a new project if you haven't finished the other one yet. By the way use the funds of last time.

From the Telegram chat I came to know that Nembit86 is a hoarder of Xem and that was before this project appeared.

Sorry if this might not be true but it's up to you to prove me wrong.

Let me just quote what I've sent to forum, as I think you're the same troll:

Quote

Quote from: cryptosamy, post:20, topic:5176, full:true

@nembit86 Is it true that you were involved with cryptoapex and that you received 50 million Xem? What were the results from this project? We have not seen anything from this. Someone just mentioned it on Bitcointalk. Why are you proposing a new project while the other one hasn't finished? And where did the 50 Million Xem go to? Can you show us where you spend it on?

Actually, **the only** xem that crypto apex project received that I remember, was this one, this is half of milestone #2:
http://chain.nem.ninja/#/multisig/b9e6079029ae2d257135730810e96607a0ad839385a5dd9241e9f933c039f3cc

There was no payout for milestone #1, as we didn't consider it fulfilled.

At that time, xem was ~350 sats, so that was barely 23btc, 450$ per btc gives us _TREMENDOUS_ amount of **$10k**.
And they actually were hitting milestone 3, and things were looking pretty good.

The fact that @nembit86 is posting, doesn't mean in any way he's involved in the project. Funding proposals are usually sent by community members.

So to summarize: get your facts straight and stop trolling.

Your memory is correct that is all they received. It's easily deducible from looking at the official Final Development Contract (https://docs.google.com/document/d/1TKTIakxUEotmTN4Et80EI7d-8XifgFZ4aBUGAukgLfY/edit#heading=h.xchkdqowarsb) and this blog post (https://blog.nem.io/update-sustainability-fund-final-redemption-numbers/).

As we can see the original amount in the Community Fund was 306,056,439.91 XEM and looking at the rich list(https://nemnodes.org/richlist/) we can see that there is 294,806,244.91 XEM left in the fund.

That is 11,250,406 XEM spent so far of which 5 million went to apostille so that leaves only the 6.25 million transaction you provided. + The 406 XEM i take went to the fees.

Guys you need to research before you panic about every single stupid rumor that gets thrown around in here. Remember EVERYTHING is documented in nem although i must say the documents could be somewhere where they would be a little easier to find.