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mortare
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August 08, 2016, 02:59:20 PM |
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I suggest every Nem holder reads this. Vote deadline is August 14th and All community funds are being transferred to this legal entity. The legal entity will not only control the funds but actually own them to do as they wish. Vote is also done by importance so those with most importance (NEM)(DEVS)win. No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc. Its supposed to be non-profit and that is the ideal but " but NEM shall also need to be sustainable in the long run. Hence, NEM shall be a hybrid model" . No idea what this means. I dont understand it. Could you explain this to me if you have time (here or in pm) |
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dadingsda
Legendary
 Offline
Activity: 1310
Merit: 1000
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August 08, 2016, 03:03:21 PM |
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I suggest every Nem holder reads this. Vote deadline is August 14th and All community funds are being transferred to this legal entity. The legal entity will not only control the funds but actually own them to do as they wish. Vote is also done by importance so those with most importance (NEM)(DEVS)win. No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc. Its supposed to be non-profit and that is the ideal but " but NEM shall also need to be sustainable in the long run. Hence, NEM shall be a hybrid model" . No idea what this means. Ähh wtf? Thank you very much for the info! But in case the idea came from the devs a voting is senseless. How many stakes each of them ownes? About 50x as an original investor?! Or about 500x today (because many of them sold a big chunk already). |
INVALID BBCODE: close of unopened tag in table (1)
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gimre
Legendary
Offline
Activity: 866
Merit: 1002
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August 08, 2016, 03:44:51 PM |
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I suggest every Nem holder reads this. Vote deadline is August 14th and All community funds are being transferred to this legal entity. The legal entity will not only control the funds but actually own them to do as they wish. Vote is also done by importance so those with most importance (NEM)(DEVS)win. No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc. Its supposed to be non-profit and that is the ideal but " but NEM shall also need to be sustainable in the long run. Hence, NEM shall be a hybrid model" . No idea what this means.
I (personally) do not intend to use any funds to affect the results of the vote in any way. If you think about it, there are VERY good reasons to have a legal entity (I think most of them were actually laid down here: http://blog.nem.io/a-major-announcement/) Keep in mind, that right now, NEM can't even protect its copyrights, as there is no legal organization that would guard our back. |
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laugh2btc
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August 08, 2016, 04:00:25 PM |
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@gimre
legal entity - ok. But this: "The legal entity will not only control the funds but actually own them to do as they wish ...No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc." is a no go.
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rockethead
Legendary
Offline
Activity: 1055
Merit: 1016
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August 08, 2016, 04:13:01 PM
Last edit: August 08, 2016, 04:24:49 PM by rockethead |
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I suggest every Nem holder reads this. Vote deadline is August 14th and All community funds are being transferred to this legal entity. The legal entity will not only control the funds but actually own them to do as they wish. Vote is also done by importance so those with most importance (NEM)(DEVS)win. No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc. Its supposed to be non-profit and that is the ideal but " but NEM shall also need to be sustainable in the long run. Hence, NEM shall be a hybrid model" . No idea what this means. Please do not make conjectures. Ask if you have doubts. Making conjectures is fud. Today, the funds in the non-entity of NEM is controlled by 8 core members. They can run with the fund too and it can collapse. The legal entity gives it a protection layer as it cannot run away with the funds so easily as it binds the trustees of the fund to the law. Making decisions to use the funds are explicity spelt out how they are going to be used to promote the 10 focus areas as described here: http://blog.nem.io/a-major-announcement/THe 10 focus areas are: - Setting up regional presence
- Organising NEM blockchain technology events
- Collaborating with educational institutions
- Collaborating with Government agencies to define standards
- Collaborating with commercial entities to further develop its use.
- Setting up a centre of excellence and to be headed by our very own core developers
- Setting up a consulting arm to consult on matters relating to the technology and provide such services to businesses at large that will use the NEM blockchain technology
- Acquiring and promoting intellectual properties from its community and working with them to promote such intellectual properties to global businesses
- Spawning new ventures, and where possible, by providing technology and financial assistance
- Providing for scholarships and internship for brilliant and world class students
How the funds will be used will be decided as before. Nothing has changed. How the funds will be disbursed have always been done by the 8 core members without the need to answer to anyone. How the funds will be used in future will need corporate governance, and simply using funds at will, can land some people in jail. Simple as that. We are putting check and balance into the system. It can only be better, not worse. Finally, the legal entity is not only a legal entity per se. It will comprise of members, pretty much like a foundation, but the word foundation is not the right description, more so a society in nature. There will be members there who will cast their votes for any major investments. In the initial stage, this will be very much guided by the core team. The initial stage is expected to be 10 years and by which time, we hope to achieve a proper legacy for all to follow. Let's hope this will clear some air. Edit: Please note that the whole question in the end is the community fund. The rest of the fund has always been autonomously decided by the core. So really, the question is the community fund. Another point to be made, the structure is two tier, trustee tier and society tier. Society is run by executives who are entrusted to run and execute what has been decided collectively between the members of the society (presumably the nembers here), the executives and the board of trustees. In short, it is not without any check and balance. |
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rockethead
Legendary
Offline
Activity: 1055
Merit: 1016
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August 08, 2016, 04:17:20 PM |
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@gimre
legal entity - ok. But this: "The legal entity will not only control the funds but actually own them to do as they wish ...No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc." is a no go.
We will expect some people will be paid for sure. It cannot be pro-bono. Would you spend your time in there, pro-bono? |
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fragout
Legendary
Offline
Activity: 1280
Merit: 1020
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August 08, 2016, 04:34:02 PM |
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@gimre
legal entity - ok. But this: "The legal entity will not only control the funds but actually own them to do as they wish ...No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc." is a no go.
We will expect some people will be paid for sure. It cannot be pro-bono. Would you spend your time in there, pro-bono? No i wouldnt but I dont like a board of directors assigning themselves a wage that they deem fair either out of community funds. Yes the guys who hold the keys to the funds now could run away with them as you say, but that would be stealing and would kill their current holdings value not to mention the project (NEM) in general. Giving ownership of the funds to a legal entity in which they have the power to sign checks as they see fit is not ideal either. Dont get me wrong, I am not trying derail a plan that is being attempted with good intentions (probably) but making an announcement that there will be a vote with a deadline of the 14th of Aug in which the main beneficiaries have the power to win that vote and in which the community loses all control of the community funds is rushed to say the least. |
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rockethead
Legendary
Offline
Activity: 1055
Merit: 1016
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August 08, 2016, 05:39:39 PM |
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@gimre
legal entity - ok. But this: "The legal entity will not only control the funds but actually own them to do as they wish ...No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc." is a no go.
We will expect some people will be paid for sure. It cannot be pro-bono. Would you spend your time in there, pro-bono? No i wouldnt but I dont like a board of directors assigning themselves a wage that they deem fair either out of community funds. Yes the guys who hold the keys to the funds now could run away with them as you say, but that would be stealing and would kill their current holdings value not to mention the project (NEM) in general. Giving ownership of the funds to a legal entity in which they have the power to sign checks as they see fit is not ideal either. Dont get me wrong, I am not trying derail a plan that is being attempted with good intentions (probably) but making an announcement that there will be a vote with a deadline of the 14th of Aug in which the main beneficiaries have the power to win that vote and in which the community loses all control of the community funds is rushed to say the least. I would like to hear a better solution rather than the problem we already know. Otherwise there still has to be an answer to the problem to move forward. And to move forward we must.  Honestly, some people in the community wants a resolution. We have made the announcement on 7th. July, but most are apathetic when this is history in the making. THe idea and deadline for resolution was mooted by someone in the community who is seeing inaction and non-deliberation. |
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gadado
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August 08, 2016, 05:43:47 PM |
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Can someone tell me when was the 3 mil supernode collateral announced? Or what was the xem price at that time?
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rockethead
Legendary
Offline
Activity: 1055
Merit: 1016
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August 08, 2016, 05:47:29 PM |
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Can someone tell me when was the 3 mil supernode collateral announced? Or what was the xem price at that time?
About a year ago. when XEM was about 70-80 sat |
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gadado
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August 08, 2016, 05:54:02 PM |
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Can someone tell me when was the 3 mil supernode collateral announced? Or what was the xem price at that time?
About a year ago. when XEM was about 70-80 sat thank you |
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fragout
Legendary
Offline
Activity: 1280
Merit: 1020
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August 08, 2016, 07:06:15 PM |
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@gimre
legal entity - ok. But this: "The legal entity will not only control the funds but actually own them to do as they wish ...No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc." is a no go.
We will expect some people will be paid for sure. It cannot be pro-bono. Would you spend your time in there, pro-bono? No i wouldnt but I dont like a board of directors assigning themselves a wage that they deem fair either out of community funds. Yes the guys who hold the keys to the funds now could run away with them as you say, but that would be stealing and would kill their current holdings value not to mention the project (NEM) in general. Giving ownership of the funds to a legal entity in which they have the power to sign checks as they see fit is not ideal either. Dont get me wrong, I am not trying derail a plan that is being attempted with good intentions (probably) but making an announcement that there will be a vote with a deadline of the 14th of Aug in which the main beneficiaries have the power to win that vote and in which the community loses all control of the community funds is rushed to say the least. I would like to hear a better solution rather than the problem we already know. Otherwise there still has to be an answer to the problem to move forward. And to move forward we must. Honestly, some people in the community wants a resolution. We have made the announcement on 7th. July, but most are apathetic when this is history in the making. THe idea and deadline for resolution was mooted by someone in the community who is seeing inaction and non-deliberation. Well I cant argue with you about the community being apathetic as I seem to be the only one concerned with the plan ( maybe they all like it ). I am against centralization in principal but I also see that Bitcoin is in a mess with no decisions being made. I expect most to complain after the vote. I think there should be more details such as who are the people involved in the Legal entity, Which funds are being transferred to them and if there will be any oversight regarding spending, accounts etc. |
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mjrmac
Member
Offline
Activity: 86
Merit: 10
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August 08, 2016, 07:55:26 PM
Last edit: August 08, 2016, 08:11:23 PM by mjrmac |
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@gimre
legal entity - ok. But this: "The legal entity will not only control the funds but actually own them to do as they wish ...No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc." is a no go.
We will expect some people will be paid for sure. It cannot be pro-bono. Would you spend your time in there, pro-bono? No i wouldnt but I dont like a board of directors assigning themselves a wage that they deem fair either out of community funds. Yes the guys who hold the keys to the funds now could run away with them as you say, but that would be stealing and would kill their current holdings value not to mention the project (NEM) in general. Giving ownership of the funds to a legal entity in which they have the power to sign checks as they see fit is not ideal either. Dont get me wrong, I am not trying derail a plan that is being attempted with good intentions (probably) but making an announcement that there will be a vote with a deadline of the 14th of Aug in which the main beneficiaries have the power to win that vote and in which the community loses all control of the community funds is rushed to say the least. I would like to hear a better solution rather than the problem we already know. Otherwise there still has to be an answer to the problem to move forward. And to move forward we must. Honestly, some people in the community wants a resolution. We have made the announcement on 7th. July, but most are apathetic when this is history in the making. THe idea and deadline for resolution was mooted by someone in the community who is seeing inaction and non-deliberation. Well I cant argue with you about the community being apathetic as I seem to be the only one concerned with the plan ( maybe they all like it ). I am against centralization in principal but I also see that Bitcoin is in a mess with no decisions being made. I expect most to complain after the vote. I think there should be more details such as who are the people involved in the Legal entity, Which funds are being transferred to them and if there will be any oversight regarding spending, accounts etc. Agreed with fragout! When discussing about something legal, there is expected to be definitions that are very openly ans accurately presented. Unless legal matters give it certain security. Also the given Time to decide would have been expected to be more than one Holiday-Month  And advertized more also in BTT. |
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nzminer
Legendary
Offline
Activity: 1918
Merit: 1001
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August 08, 2016, 09:08:44 PM |
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I suggest every Nem holder reads this. Vote deadline is August 14th and All community funds are being transferred to this legal entity. The legal entity will not only control the funds but actually own them to do as they wish. Vote is also done by importance so those with most importance (NEM)(DEVS)win. No info on who who is involved in this Legal entity and If, how much they will be paid, expense accounts etc. Its supposed to be non-profit and that is the ideal but " but NEM shall also need to be sustainable in the long run. Hence, NEM shall be a hybrid model" . No idea what this means. Please do not make conjectures. Ask if you have doubts. Making conjectures is fud. Today, the funds in the non-entity of NEM is controlled by 8 core members. They can run with the fund too and it can collapse. The legal entity gives it a protection layer as it cannot run away with the funds so easily as it binds the trustees of the fund to the law. Making decisions to use the funds are explicity spelt out how they are going to be used to promote the 10 focus areas as described here: http://blog.nem.io/a-major-announcement/THe 10 focus areas are: - Setting up regional presence
- Organising NEM blockchain technology events
- Collaborating with educational institutions
- Collaborating with Government agencies to define standards
- Collaborating with commercial entities to further develop its use.
- Setting up a centre of excellence and to be headed by our very own core developers
- Setting up a consulting arm to consult on matters relating to the technology and provide such services to businesses at large that will use the NEM blockchain technology
- Acquiring and promoting intellectual properties from its community and working with them to promote such intellectual properties to global businesses
- Spawning new ventures, and where possible, by providing technology and financial assistance
- Providing for scholarships and internship for brilliant and world class students
How the funds will be used will be decided as before. Nothing has changed. How the funds will be disbursed have always been done by the 8 core members without the need to answer to anyone. How the funds will be used in future will need corporate governance, and simply using funds at will, can land some people in jail. Simple as that. We are putting check and balance into the system. It can only be better, not worse. Finally, the legal entity is not only a legal entity per se. It will comprise of members, pretty much like a foundation, but the word foundation is not the right description, more so a society in nature. There will be members there who will cast their votes for any major investments. In the initial stage, this will be very much guided by the core team. The initial stage is expected to be 10 years and by which time, we hope to achieve a proper legacy for all to follow. Let's hope this will clear some air. Edit: Please note that the whole question in the end is the community fund. The rest of the fund has always been autonomously decided by the core. So really, the question is the community fund. Another point to be made, the structure is two tier, trustee tier and society tier. Society is run by executives who are entrusted to run and execute what has been decided collectively between the members of the society (presumably the nembers here), the executives and the board of trustees. In short, it is not without any check and balance. Thanks for this update. Explains alot and i dont see any problem with this. |
NEM, THE SECURE, SCALABLE BLOCKCHAIN [NEM.IO] [T.ME/NEMRED]
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jelin1984
Legendary
Offline
Activity: 2408
Merit: 1004
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August 08, 2016, 09:16:17 PM |
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can anyone help me with ctl.io for supernodes pm me  |
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jorozu
Newbie
Offline
Activity: 24
Merit: 0
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August 08, 2016, 10:01:26 PM |
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I have not faced this problem. I would do the following. Search for all NEM-related files on your machine and delete them. Afterwards, install NEM again from scratch. Then it should usually work. Which WinOS do you use? cant log in into my xem wallet, the message says localhost 8989, and ncc is not runing, anyone can help?
I think, I had the same problem! You have to delete the file named 'accounts_cache_mainnet.json' and start NEM again. I had this problem a serveral time, don't know why  You will find the file here: C:/Users/'youraccount'/nem/ windows 10 it was working for a year with no problems, and one day it crashed |
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marcus_v
Member
Offline
Activity: 151
Merit: 10
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August 08, 2016, 10:48:51 PM |
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getting close to moving a large amount of this isht coin at the 1 k mark and still make profit yay. so maybe another week or 2 then it should sell at were it is at now, then the other balances one by one shall sell with profit
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LemonAndFriesOne
Legendary
Offline
Activity: 1050
Merit: 1000
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August 09, 2016, 01:04:56 AM |
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ok so if a foundation is formed, could there be some kind of mechanism implemented where the community would have to vote. Members who have a certain amount of NEM vested would vote, or like delegated harvesting: members with smaller amounts could let other members (who are voted by them) to represent their NEM as a collection (maybe a token representing that certain delegate) and vote on their behalf (but before the vote is casted, making sure the majority agree on the vote of the delegate). This mechanism would be the ultimate vote of whether to let the foundation go on with whatever plan they want to implement and have presented to the community.
Ultimately you have a main foundation formed and community still has a part of the decision, it would be decentralized and centralized at the same time with checks.
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