Ethyl - The Future of the Internet of Things


#43

Got my vote. Good luck!


#44

Hi guys, super interesting project.

Regarding the milestones using “Milestone Three “Final Cut” (Q4 2018) 140k XEM” as an example.

What if a single XEM is valued at $10 by this date? How will the $1.4million be spent?

Website hosting will not exceed $500 per month ($6000ish total for project)
Namespace and XEM fees would have a fairly low ceiling I’d imagine?
Hardware costs would be the second biggest spend after salary but I would guess it won’t come close to breaking 6 figures?

I am happy for people undertaking ambitious projects to be amply rewarded for their work but I feel that the volatility of cryptocurrencies is an issue.

I would imagine pricing up a project in a stable fiat currency protects both the project from being under funded and the community from overpaying for a project.

It’s a big win / win. A project would be less likely to fail due to being under funded and therefore there would be no wasted funds and the NEM community wouldn’t overpay by millions or potentially tens of millions of dollars due to volatility. It also stops the developers / company being undercompensated due to volatility.

Apologies if this has already been addressed, I didn’t see it mentioned though.


#45

I vaguely recall this being discussed in the past regarding funding and bounties (bounties are now paid out in USD equivalent). But I agree, the volatility of XEM makes long-term business plans and costing difficult. If project proposals are meant to support real costs, then surely funding should be provided to meet these real costs in equivalent XEM.


#46

If people wish to discuss how the community fund currently works then this should be done in a separate thread to a particular proposal. All the projects seeking funding have followed the rules as only laid out and it is not fair on the project to detract from the simple voting yes / no and achieving the quorum percentage of 3% PoI


#47

5 Days left until the end of the poll.


Intermediary results
~2.05% POI already voted (required 3%)

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Voting details:


#48

Sounds like a great project. Voting YES✔️


#49

C’mon people, voting just costs you 0.05 xem.


#50

4 Days left until the end of the poll.


Intermediary results
~2.06% POI already voted (required 3%)

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Voting details:


#51

Hi,
this project is great, I voted yes.
I would like also to add here a reference to USA
company, electric cooperatives, named
NRECA.
They’re facing modernization, as stated here:


and they work with renewable energy.
It could be a perfect user for IoT solar panel blockchain usecase.


#52

3 Days left until the end of the poll.


Intermediary results
~2.85% POI already voted (required 3%)

Voting details:


#53

Yes from me :slight_smile:


#54

I posted this in another project proposal thread and wanted to post similar questions and concerns here in hope that I can receive a reply from before casting my vote.

I want to bring attention to the potential problems I mentioned above are already starting to become apparent with the recent crash in the market.

This proposal was posted 13 days ago when the price per XEM was around $1.70, this would mean the 425,000 XEM requested had a value of around $725,000.

The current price per XEM is around $.79, hitting as low as $.69 in the last 48 hours. This would mean the project would now have $336,000 and $294,000 respectively.

I imagine this shortfall could cause issues. Of course the market may pick back up but it also may crash further, and it could take a significant period for it to recover.

It looks like this proposal may pass anyway but before I cast my vote I am hoping to receive a reply from Ethyl on how a 50%+ reduction on the fiat value of the XEM received would affect the project?

Will there be delays caused by waiting for the market to pick up before liquidating XEM?

Will you still be able to pay developers and purchase the required hardware with the same amount in XEM or would it require more XEM to be liquidated to meet the fiat value of their salary / cost of the product?

Would the developers take a reduction in salary if more XEM than planned is required to pay for hardware, hosting etc.?

Thank you.


#55

Will there be delays caused by waiting for the market to pick up before liquidating XEM?

This isn’t our only source of funding. We’ll be fine for a little bit at least. At which point price should pick back up.

Would the developers take a reduction in salary if more XEM than planned is required to pay for hardware, hosting etc.?

Also keep in mind there are no plans to liquidate immediately. It’s a slow, once in a while thing as the need arises.


#56

3% Hit!
Thank you to all who voted.

Note that this result is not final, so be sure to vote regardless of what NanoWallet shows.


#57

18 hours left until the end of the poll !


Intermediary results
~3.45% POI already voted (required 3%). Minimum quorum threshold reached!

Voting details:


#58

Congratulations! Looks like proposal is accepted by community but we should wait for official confirmation.


#59

I did not vote.
How much xem did you get?
And why are you unable to answer my question?
Also why is the name “Ethyl”?
Ethyl alcohol?
Why are you using ETH as a trademark?
Are you using Ethereum?


#60

How much xem did you get?

0

And why are you unable to answer my question?

I can, sorry for not seeing it. Devices that don’t involve the streaming of a lot of data (basically everything that’s not cameras).

Also why is the name “Ethyl”?

Why not?

Why are you using ETH as a trademark?

I’m not?

Are you using Ethereum?

No


#61

Ok so you got the required votes, congrats.
However consider changing the name it just sounds too much like that song that Alice Cooper sings, “Cold Ethyl”.