Quote from: Eadeqa on July 30, 2014, 10:12:43 AM

Quote from: Simakki on July 30, 2014, 09:18:02 AM

IMO callin a NXT AE a free market is kind of joke Cheesy

In theory it is, but as we know that there are really big whales. They surely can manipulate prices, so it is more like oligopoly.

These big "whales" can buy Nem at any exchange after the launch. Why are you jealous of them? You can't stop them from buying Nem, if they want, even after the launch. Nxt AE is a free market.

Let's remember that NEM has not launched yet. The intent of listing NEMStake on the NXT AE was to better distribute NEM tokens and provide some liquidity. But, the market for pre-release NEMStake was never intended to be free (and it does not satisfy the definition of a free market because of the conversion rules).

The description of NEMStake clearly states:

Quote

A NEMstake token represents one million NEM receivable after the official launch of NEM blockchain. The token can be traded down to one digit after zero (minimum unit is 1/10 of a token). Our website is www.ournem.com. Please read about NEM, NEMstake token and the conversion rules in our dedicated thread before buying NEMstake. The issuing account is NXT-J62B-CNAR-34YW-4RCFN.

People trying to hoard NEMStake might be unhappy with the redemption process, but if people did not bother to read and understand the conversion rules, I don't feel too sorry for them.

Once NEM is officially released, the NEM market will be completely free. It's likely, but not inevitable, that the Pareto principle will take hold at that point. But, it's not desirable to have that concentration pre-release.