I would agree with that sentiment, that is reasonable.   

In terms of the General Fund, everything has been above board with that.  I am going to put together the interim FS over the next while.  I was going to rush something out but given that the tone got really venomous today, I think it will be best if I take my time to make sure that it is tight and detailed.  This has to all be done by hand and that takes time.

Regarding the Premine, that was well before my time and I never had control over those funds.  Barwizi is working to provide an accounting of those funds.  All the funds under my control are safe and accounted for.

On the scam accusation, a scam would be if Barwizi ran the general fund and then disappeared the next time.  It wouldn't be to develop for three months after the fact.  I think the forum is really quick to start throwing that word around prematurely and we all lose when it does. 

Thank you and less mud slinging would be appreciated,
Logan

This is factually incorrect.  There was no free-riders.  Barwizi put up a significant portion of fiat to purchase the miners and fronted the rest.  He received shares and the portion that he fronted was paid back in kind when others invested. 

General fund share registry updated as of 6/19/2014:
http://puu.sh/9Ae81/880a769c48.pdf

Share registry is updated as of 6/17/2014:

http://puu.sh/9yoYS/a4615fa14d.pdf

We moved all the miners to a data centre to get more stability.  The data centre has costs associated with it and we are using 2 TH/s to generate BTC to cover those costs.  While the cost to the group is more, by my calculations we will come out further ahead by not using a home grid and having so much down time.

Updated the share registry:
http://puu.sh/9riPi/88bcf96134.pdf

General Fund registry is updated on June 11:
http://puu.sh/9pKMW/25343e4e61.pdf

http://gagapool.pw will pay out in diem or ebt

Hi everyone,

This is an old link, please visit https://bitcointalk.org/index.php?topic=565623.0 for the latest NRS information.

If you would like to own a portion of the General Fund, you can purchase shares from the existing participates, I have created a worksheet here:
https://docs.google.com/spreadsheets/d/116mEoEt418tKZk3eJL39n6Lfw0sWLWTcmyij4TAITI4/edit#gid=0

That is my bad, it should have the total return so far (April & May).

Mining update as of June 5, 2014.

Total investment: 16.8 BTC
Total return generated: 8.66 BTC
Recovery percentage: 51%  

Keep in mind that once a wallet address hits 14 days that doesn't mean it will POS immediately, that just means that is the maximum coin age.  If I have an offline wallet sit for 6 months then online it, it will be on the same footing as one that has been sitting for 14 days.

I'll take a share.

Hi sirsmokesalot,

Honestly?  We are still figuring out the best way to distribute to the NRS holders.  There are a couple options but I think the one we are currently looking at is as follows:

1.  We announce that we are taking a snapshot of all the NRS at a specific time

2.  Everyone moves coins from the exchanges to their wallets at a certain time.

3.  We take a snapshot.

4.  On the new wallet of whatever new chain we have created, we get people to 'import' their existing keys to that new wallet to access the new tokens.

There are other options but this is currently the easiest.

To answer your question, if you bought 9% at the last minute you would get the extra share of the new project.  This would however likely drop the price of NRS after the snapshot as people know the NRS now no longer includes the product.

Let me know if you have any additional questions,
Logan

To clarify, please only message me when you have completed the sale (i.e. Transferred the BTC).  My role is updating the spreadsheet and not facilitating the sales process.

By popular request, I have set up a general fund buy/sell worksheet here:

https://docs.google.com/spreadsheets/d/116mEoEt418tKZk3eJL39n6Lfw0sWLWTcmyij4TAITI4/edit#gid=0

Hi SirSmokesALot,

As the "financial guy" for Noir Group, I felt that I could clear up some confusion regarding the future ownership of projects.  

Each project will have it's own distribution, this can vary greatly depending on the initial investment, how much 'General Fund' (our intinvestment went into it, how much additional funding is required, etc.

For example,
If we have a big project that we have put 10 BTC into and we think we will need an additional 10 BTC then we are likely to do an IPO.  Keep in mind that we will not do an IPO on every project, just the few big projects that will require a lot of additional capital that we can't self fund.

So we will have a distribution something like 20% general fund 20% NRS 20% IPO and 40% mining.

The 20% for the general fund will go to funding the development team as well as rewarding the general fund owners (angel investors). 

The 20% for NRS will be based on just holding NRS in your wallet so just having NRS will entitle you to that share.

The 20% IPO will consist of us posting a thread to Bitcointalk.org inviting the general public to invest in that specific project.  In order to invest in that specific project, the general public will need to contribute NRS to a specific address with that 20% being distributed based on that percentage.  

The 40% mining will go to supporting the network.  

So basically you are both right, please let me know if you have any questions.

Regards,
Logan

The share registry has been updated: http://puu.sh/8XtYe.pdf

I have updated the share registry.

It is current as of today: http://puu.sh/8ScEn.pdf