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Re: [ANN] IPO of MaidSafe: Entering the Future of the Decentralized Internet
MSC was trading at around .08 BTC before this.
Why would David J of MSC foundation think that it's a fair way to run an IPO to give more than twice the ROI in MSAFE for MSC holders than for BTC holders?
Maidsafe has to defend MSC now because it is holding a ton of MSC... too bad for such unethical behavior. Holding a fair IPO in BTC (much more liquid than MSC) would not have been hard, if you think the purpose of this crap was anything other than profiteering, get real.
Why would David J of MSC foundation think that it's a fair way to run an IPO to give more than twice the ROI in MSAFE for MSC holders than for BTC holders?
Maidsafe has to defend MSC now because it is holding a ton of MSC... too bad for such unethical behavior. Holding a fair IPO in BTC (much more liquid than MSC) would not have been hard, if you think the purpose of this crap was anything other than profiteering, get real.
Although your thought process is clear to follow... I am afraid you haven't considered several Market conditions. If MaidSafe (or whomever for the matter) were to attempt to purchase the MSC accumulated through this IPO... I am sure you'd agree that they would have NOT been able to purchase most "at around .08 BTC." Can you imagine the MSC/BTC rates by the time they would be done buying? As far as having "to defend MSC now"... why do you exclude the possibility that they look forward to an increase in MSC valuation? I mean... think about it for a sec... they obviously preferred to use the Master Protocol themselves!
So your idea is MaidSafe was itching to make a big investment in MasterCoin and then David J of the MSC foundation graciously worked out a deal with them so they could buy a ton of MSC at over double the market price... and this is a good deal for them because they don't have to try their luck on the open market... OMG LOL
Ok, so this is how this played out...
It is totally obvious to anyone following this that MaidSafe team trusted MasterCoin Foundation to set up their IPO for them (aka David Johnson of MasterCoin Foundation/BitAngels)
MSC was trading at around .08 BTC before this.
Why would David J of MSC foundation think that it's a fair way to run an IPO to give more than twice the ROI in MSAFE for MSC holders than for BTC holders?
Obviously because he had a lot of MSC.
Then David J of MSC foundation acts surprised that most donations came through MasterCoin when they gave double the reward to MasterCoin.
Either David J of MSC foundation is a complete and total idiot for expecting that this would be a fair and smooth way to operate an IPO or he is a scammer/opportunist/profiteer.
I don't think David J is that much of an idiot.
David J of MasterCoin Foundation SHOULD BE IN PRISON. If you think this was above board, I have bridge to sell you.
All this is separate from the value of MaidSafe software.
MaidSafe has software that they worked on for a long time on, but I think monetizing it with a cryptocoin is new to them and they are obviously new to crypto and didn't see things that most people saw would be obvious.
Maidsafe has to defend MSC now because it is holding a ton of MSC... too bad for such unethical behavior. Holding a fair IPO in BTC (much more liquid than MSC) would not have been hard, if you think the purpose of this crap was anything other than profiteering, get real.
It is totally obvious to anyone following this that MaidSafe team trusted MasterCoin Foundation to set up their IPO for them (aka David Johnson of MasterCoin Foundation/BitAngels)
MSC was trading at around .08 BTC before this.
Why would David J of MSC foundation think that it's a fair way to run an IPO to give more than twice the ROI in MSAFE for MSC holders than for BTC holders?
Obviously because he had a lot of MSC.
Then David J of MSC foundation acts surprised that most donations came through MasterCoin when they gave double the reward to MasterCoin.
Either David J of MSC foundation is a complete and total idiot for expecting that this would be a fair and smooth way to operate an IPO or he is a scammer/opportunist/profiteer.
I don't think David J is that much of an idiot.
David J of MasterCoin Foundation SHOULD BE IN PRISON. If you think this was above board, I have bridge to sell you.
All this is separate from the value of MaidSafe software.
MaidSafe has software that they worked on for a long time on, but I think monetizing it with a cryptocoin is new to them and they are obviously new to crypto and didn't see things that most people saw would be obvious.
Maidsafe has to defend MSC now because it is holding a ton of MSC... too bad for such unethical behavior. Holding a fair IPO in BTC (much more liquid than MSC) would not have been hard, if you think the purpose of this crap was anything other than profiteering, get real.
Re: [ANN] IPO of MaidSafe: Entering the Future of the Decentralized Internet
Ok, so this is how this played out...
It is totally obvious to anyone following this that MaidSafe team trusted MasterCoin Foundation to set up their IPO for them (aka David Johnson of MasterCoin Foundation/BitAngels)
MSC was trading at around .08 BTC before this.
Why would David J of MSC foundation think that it's a fair way to run an IPO to give more than twice the ROI in MSAFE for MSC holders than for BTC holders?
obviously because he had a lot of MSC.
Then David J of MSC foundation acts surprised that most donations came through MasterCoin when they gave double the reward to MasterCoin.
Either David J of MSC foundation is a complete and total idiot for expecting that this would be a fair and smooth way to operate an IPO or he is a scammer/opportunist/profiteer.
Personally I don't think David J is that much of an idiot.
David J of MasterCoin Foundation SHOULD BE IN PRISON. If you think this was above board, I have bridge to sell you.
All this is separate from the value of MaidSafe software.
MaidSafe has software that they worked on for a long time on, but I think monetizing it with a cryptocoin is new to them and they are obviously new to crypto and didn't see things that most people saw would be obvious.
Maidsafe has to defend MSC now because it is holding a ton of MSC... too bad for such unethical behavior. Holding a fair IPO in BTC (much more liquid than MSC) would not have been hard, if you think the purpose of this crap was anything other than profiteering, get real.
It is totally obvious to anyone following this that MaidSafe team trusted MasterCoin Foundation to set up their IPO for them (aka David Johnson of MasterCoin Foundation/BitAngels)
MSC was trading at around .08 BTC before this.
Why would David J of MSC foundation think that it's a fair way to run an IPO to give more than twice the ROI in MSAFE for MSC holders than for BTC holders?
obviously because he had a lot of MSC.
Then David J of MSC foundation acts surprised that most donations came through MasterCoin when they gave double the reward to MasterCoin.
Either David J of MSC foundation is a complete and total idiot for expecting that this would be a fair and smooth way to operate an IPO or he is a scammer/opportunist/profiteer.
Personally I don't think David J is that much of an idiot.
David J of MasterCoin Foundation SHOULD BE IN PRISON. If you think this was above board, I have bridge to sell you.
All this is separate from the value of MaidSafe software.
MaidSafe has software that they worked on for a long time on, but I think monetizing it with a cryptocoin is new to them and they are obviously new to crypto and didn't see things that most people saw would be obvious.
Maidsafe has to defend MSC now because it is holding a ton of MSC... too bad for such unethical behavior. Holding a fair IPO in BTC (much more liquid than MSC) would not have been hard, if you think the purpose of this crap was anything other than profiteering, get real.
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this
Cfb should join (help) NEM since he is one of the early stakeholder (check the list). But NEM would not restrict itself to be a NXT's AM (arbitrary message).
Why not issue honorary stake in NEM to people who deserve it and/or could potentially be helpful? I think we should give BCNext some stakes in NEM because NEM probably wouldn't exist without him. Regardless of what he chooses to do with it, he deserves it and if he decided to be supportive of NEM that would be a very good thing.
Better for people who are able to contribute to have stake then someone who bought a stake in NEM for their Grandma who's not even really interested. I don't know that one stake for CfB would be enough incentive. People like to see those who work hard, take risks, and contribute to be rewarded. Of course probably no distribution is perfect.
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
4 Billion is less than 1 NEM per person in the world. IF we want to make a currency that people can imagine being used all over the world there should be more than 4 Billion.
Thanks
Only about 10% of the worlds population has access to connected computers so the figure would be more accurately represented as approx 5.71428571 NEM per person! Thanks
"Report Says 75 Percent Of World's Population Have Mobile Phones"
http://www.rferl.org/content/report-says-75-percent-of-worlds-population-have-mobile-phones/24648234.html
To give some perspective on what may be a useful amount for a global currency: there are about 100 Trillion (100,000,000,000,000) Japanese Yen in circulation. And that is just one country's currency.
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
I don't know if we really need to do more to attract POWers. Many don't like any type of coin that is not 100% mined. On the other hand, we could always hold back a small percentage of the initial distribution as a reserve and distribute it somehow (e.g. to miners, via a faucet, via a lottery, or via more fundraising). I don't know any of these are good ideas. I'm just brainstorming and throwing out ideas. Personally, I think we have a pretty strong community already and probably don't need to make a huge effort attracting POWers.
What about saving some NEM to set up a "World Community Grid" team and distribute based on points? Similar to the faucet that Ripple uses. I think people can feel good that they are not just doing pointless calculation, they are helping society, it is also very ASIC resistant. It also gives people a chance to get NEM without just paying for them, I think this can be easier for people new to crypto rather than buying coins. And if the coin goes to zero they can still feel like they did something positive and didn't pay someone or get "scammed".
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
Nakamoto is a bit long, I will admit, but it is only 1 syllable more than satoshi.
Naka could work as well. This would just be 中. This is also the short country name of China (中国). 中 could be the currency symbol. It is already in unicode...
新 means "new" and is pronounced the same in Chinese and Japanese (xin/shin). That character is also in unicode!!
Naka could work as well. This would just be 中. This is also the short country name of China (中国). 中 could be the currency symbol. It is already in unicode...
新 means "new" and is pronounced the same in Chinese and Japanese (xin/shin). That character is also in unicode!!
I like Naka so while we pay a homeage to Satoshi Nakamoto it is somewhat different from bitcoin's naming tradition. We could have the currency symbol at the same time. One stone kills two birds.
So 1 NEM= 1 bitcoin; 1 naka= 1satoshi.
I like naka too. Satoshi is too long a name for common use and is also too small a value to have any practical relevance (1 BTC = 100,000,000 satoshis) but 1 NEM SHOULD NOT = 100,000,000 naka. It is very important to have a unit that has a useful value that is not too high so you are using a bunch of decimals but is not so low like a satoshi. 1 NEM = 1000 naka?
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
Why not have a larger number of coins? Transaction fee could start at 100 NEM and go down over time to 1 NEM. This avoids using decimals for transaction fee and small purchases.
BTW: Any idea what BCnext thinks of this project?
BTW: Any idea what BCnext thinks of this project?
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
Utopian,
Why are there 4 Billion NEM? Is it just to be like litecoin and be 4x the number of NXT? More would be better such as 400 Billion. I know that they can be divided as much as needed but this doesn't address the problem. No one wants to by a candy bar for .000625 BTC so people are already talking of using milli BTC but it's still awkward. DOGE coin has the struck a better balance with this. Dealing with small decimals is not only awkward, it's just psychologically more fun to feel like you own a lot of something. 4 Billion is less than 1 NEM per person in the world. IF we want to make a currency that people can imagine being used all over the world there should be more than 4 Billion.
Thanks
Why are there 4 Billion NEM? Is it just to be like litecoin and be 4x the number of NXT? More would be better such as 400 Billion. I know that they can be divided as much as needed but this doesn't address the problem. No one wants to by a candy bar for .000625 BTC so people are already talking of using milli BTC but it's still awkward. DOGE coin has the struck a better balance with this. Dealing with small decimals is not only awkward, it's just psychologically more fun to feel like you own a lot of something. 4 Billion is less than 1 NEM per person in the world. IF we want to make a currency that people can imagine being used all over the world there should be more than 4 Billion.
Thanks