Post
Topic
Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
Zoella
on 28/01/2014, 23:06:10 UTC
As well as how the fundraising portion doesn't have to be fair, because the genesis block creation will be?

GB shares = (number of interested posts) / 4billion

That was my assumption as well, but then he responded to one of my posts implying that this was NOT the case...

Disagree. As I explain here  "Yep, the fundraising has some incentives built in so probably not perfectly fair. But when we start the genesis block, every stakeholders have an exactly equal footing- the term "completely fair distribution" indicates the fairness at genesis block not at the fund raising. That's being said NEM fundraising is still much better than some other cryptos". NEM fundraising is very different model from any other crypto to date.

To be honest, the project is very well funded by an amount much bigger than the fundraising here;I have guaranteed that the fund raised here won't be touched until we launch the genesis block.

If GB relies on number of interested posts for fairness, doesn't that mean any "unfair" stake acquisitions will also be seen at GB creation?  Am i misreading this, or is there a step inbetween fundraising and GB creation that I missed?  He is clearly differentiating between the fundraising and the GB creation, but I don't see how they can be separated.

Also, what is this other funding stream and what is expected in return by those investors?