Compensation for unclaimed stakes?


#1

Hello

I have been following NEM since the early announcement days in bitcointalk. Now that cryptocurrencies are getting mainstream attention, I would like to reboot some talk of the beginning of this currency.

Personally I feel that unclaimed stakes contributed hugely to this crypto, more than the stakes that were held for years. Unclaimed stakes enabled all kinds of rewards for developing. Now that one stake is worth over 1 million USD and the community fund has a major possession of all XEMs, I think it would be reasonable to compensate some for the stakeholders, who can prove that they never claimed their stake. I think it could also stop some negative talk about the stakes and be inspiring for all cryptos. I think a program to donate a small static amount (ex 5-15%) of original stake would make sense, without any time limits, just with the proof of the stake. What are your thoughts?


#2

I think this discussion is already closed and all was explained here Not Claiming NEMStake, Why It Is No Longer Possible and the History of the Process but maybe someone else with is longer in NEM should take the floor.


#3

As you can see, there are some controversy in those comments, even some talk about legal actions. I don’t know if cryptocurrency matters could be handled in a court. It’s getting more and more into public attention though. That’s why I think a new program could be started. If community fund had 300M XEMs at the time of that post, I think some compensation should be organized. It would stop some of the controversy.


#4

Anyone? Pretty much the only negative discussions of NEM are about the stake redemption window. And new messages of that topic are popping up time to time. It would be still easy to verify that the original stakeholder didn’t claim the stake if the person has original BTT account and access to the BTC/NXT wallet the fee was paid from.


#5

I would also like to point out that this is the original fundraising thread https://bitcointalk.org/index.php?topic=422129 and there is no information of the time limit to claim the stake. Also no information that the process would be handled with PMs. The next quotes prove probably why many people feel mistreated with the redemption process.

“A total of 4 billion NEM will be distributed equally to all adopters. That means every stakeholder will have an equal and fair share of NEM when NEM blockchain officially starts.” - Was it equally and fairly distributed? Is it equal that unclaimed stakes were put into a same pot for developement? Doesn’t being a shareholder mean anything unless you claimed the stake? I know developers deserve a fair share of success, but there were other personal, developer and common funds too.

"If you do not have a Bitcointalk account yet, you need to create one to reserve a stake spot. Do not lose the account password, because you will need to access the account later to claim your share. " - I guess most people followed this part. No information about a time window though. This suggests that having access to the Bitcointalk account at a later date would suffice.

EDIT: A few more quotes: “One Bitcointalk account is entitled one stake spot.”
“Completely Fair Distribution - Equal Shares for ALL
No arbitrary distribution.”


#6

There are other communities that are much nicer than XEM. They chased away all the nice people by the way they handled this, me and my friend were classed as sock puppets because we created separate bitcointalk accounts with secure passwords to keep our stakes secure. (Actually, that was my idea. He blames me for my great idea.) No amount of money can buy back the trust, it was a good lesson in money and how it destroys trust in the world. I come back every now and then to see if there is a good message here, but we are forgotten. Persona non grata. It also shows the randomness of life… success is not because of work, it is just luck. If you have success and you think it is you, it is not. Do not fool yourself. Maybe they didn’t give us stakes so they can always get reminded when we come back to see what is happening…