Post
Topic
Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
DontPanic_42
on 12/04/2014, 00:33:12 UTC


It is no obsession. If the people on the waiting list will pay for their stake I think there is sufficient funds for development, for marketing and for the devs to pay the rent and go on a well deserved binge.

My reasoning is the following: the best IPO ever was the Counterparty IPO. Over 2000 BTC where taken out of the market and thus payed to all holders of BTC as a dividend. All people who burned BTC made a profit, and by doing so everyone in the community made a profit.

If NEM is released it will be on an exchange and the minimum price for 1 NEM will be 1 satoshi. This equals >0.1 BTC per stake, per definition. Profit for all.

An auction for more development funds and marketing funds smells like greed. Greed for a larger profit than the profit we already made. IMO, this would go against everything that made NEM a valuable idea in the first place.

Since the NEM team has made us a profit already, and since I'm a communist at heart, I believe those that didn't have the chance to participate should share in my profit, since I didn't do anything to deserve it for myself alone.

A good charity for the hypothetical auction would be this:

https://www.counterparty.co/full-bitcoin-nodes

http://nodeshares.com

We'd pay a tribute to the crypto community by financially supporting the above initiative. Bitcoin paved the way for the NEM team to be able to create NEM, and it will continue to pave that road for the foreseeable future. Call it charity. I'd call it common sense.


Shit if 1 million NEM will be .1 btc at release you can bet your ass I'm buying a fuckity fuck load of stakes.

For NEM to be traded against bitcoin it should at least have a value of 1 satoshi. 10 million satoshi in a Bitcoin, >1 million NEM per stake: >0.1 BTC per stake.


I dont want to be an smart-ass but :  Tongue

*smart-ass-mode on*

1 BTC equals 100 Milion satoshi.
I paid 0.045 BTC for my stake and lets say 1 stake is 1,000,000 NEM, than 1 NEM = 4.5 Satoshi  ( 0.045 BTC / 1,000,000 = 0.000000045 BTC/NEM )  If 1 stake reaches 0.1 BTC I would little more than double my BTC.

*smart-ass-mode off*

But I would not sell at that price, thats for sure   Grin