NEM Foundation - message to the community

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#61

Council is doing what it needs to do.
Thanks for update.

Your making the hard business decisions that should have been made already.
Sad to see the state of the balance sheet we are at and high level, educated, experience, responsible, accountable people should have foreseen this happening or at least have this as a risk that need to be mitigated.
Anyways, nothing happens crying over spilled milk.

New Council is stepping up to the plate and doing what they said they will do, bring change!

1 promise they are already keeping too is, communicating with the community, this it itself will separate the true community from the trolls and fuders.

True community members appreciates honesty and constant communications. The real people will stay and other will join just because of this level of morality.
All other will leave, which is fine. A team is only as strong as it’s weakest link and trolls, fuders, price riders are all weak and have no loyalty, time to see who is who…

#62

Nem is bankrupt,
i think @Inside_NEM is a victim too, because she didn’t know about the bankruptcy before the presidency.
as i said before(nem_is_dead), Nem is dead.
now i have more than 100k nem that has no value! the only response from community is: “that’s it!”.
catapult is just a software, it can’t make a miracle.
Nem needs Big-Whales, but sadly whales do not like Nem, at least not anymore. :expressionless:

#63

There is no bankruptcy.

1 Like
#64

I am disappointed.

#65

$405,000 a month burn I would rather spend on development than marketing since there is nothing to market!

3 Likes
#66

This all feels too easy to me. I know Alex and others are working hard to salvage what they can and they’re taking the brunt of the backlash against the Foundation but that is what the job entails. It is not a personal attack but it comes with being part of the council.

Everybody is too easy to forgive. I’m getting the sense that everyone is ready to sign over another $7.5million with a shrug and a comment of “spilt milk” or “its all in the past”. There is a sentiment that “now this has happened we’ll be onto great things”.

I think much harder questions need to be asked here.

The Bitcoin Foundation was not a great success. The decisions of the Litecoin Foundation and it’s impact is often called into question. The NEM Foundation was wasteful and in a month it could be dead.

We need to ask whether it is worth saving.

I don’t want to single anyone out but when I scroll down the NEM.io/about/foundation/ page I see people I’ve never heard of, or I see the names of people who have made questionable (maybe even underhanded) decisions.

Do we want to have these people attached to NEM in an official capacity? The core team, and I would hope the community also, have a great responsibility to weigh up these questions.

I see no pitch from the Foundation to the community to justify their existence. I see no demonstration of the value they produced and why they should be kept around for the future. Sure there were a few lines or a paragraph or two but I want to see more.

There is an opportunity for greater reform here. Reform that is not in the hands of an organisation that created this situation and not in the hands of an organisation that has a conflict of interest when considering its reforms.

We can have bargaining table where the core team, community and Foundation figure out the correct way forward together. In a direction where we find more suitable candidates with technical backgrounds that can bring real value to the ecosystem

However I have a sinking feeling that a proposal is going to be submitted to an overly busy core team while the community is left in the dark. That sooner or later it will be accepted and then we will be back to business as usual with a troll box Telegram channel, a spam filled subreddit and an empty forum.

6 Likes
#67

You are right, but give the folks a chance, while they seem to have discovered the way out of the tunnel.

#68

What will unbung NEM is an open source public chain. If it had been an open source public chain from launch lord knows how much further along it would be.

The NIS chain can’t be mined and it can’t be developed. That killed off a huge percentage of the potential audience before it got going.

There was talk of a separate group working on public Catapult. Those plans should’ve continued while the election was eating itself, even more so now.

Accelerating that was pretty much the only reason for the foundation to turn voters on. I’m sure they can put something together. A dedicated group could do it faster with more focus.

If this group was rolling this foundation drama would be a drag but not much more.

#69

As an investor I have watched NEM go from being a sleeping giant that was being recommended as a good buy , being called the Ethereum killer to this obscure train wreck today … where is NEM being mentioned by the IMF or scores of YouTubers … NEM has been fading into obscurity for quite some time… bottom line if you don’t have a product for business that you can go out and present to the world you will be a total loss in the history books!!!

Where is a finished product that businesses will highly seek out to be a part of … are you better than all competition…

And you have plenty of it ! …

Businesses don’t care about anything but their bottom line… CAN NEM produce a product/service that solves problems ? If you don’t have developers that are capable of this … you ARE dead !

I wish you much success !

1 Like
#70
1 Like
#71

where is Vicepresident ??

@n3lz0n

#72

The new Foundation works to empower the entire NEM ecosystem, contribute everything we can to accelerate the launch of CATAPULT, supporting all the collaborators and having our product ready for sale.

In this process we will generate unconventional marketing strategies, business development with companies and governments and we will build a profit generation plan.

Always focused on the benefit of the community and that our project fly very high and put NEM in the place where it has always been.

2 Likes
#73

Me too. At the same time, we’ve solved for many of the problems we’ve encountered so far and the new Council has been transparent the whole process communicating with the core devs, Tech Bureau, our teams and the community. I don’t blame you for being disappointed. But I do hope that you give us a chance to show you what the new vision for the Foundation is – one without regions and one that is product-focused, revenue-driven and community-oriented.

Thanks, Vistar.

4 Likes
#74

where is jabo 38??
jabo 38 will know what happen
do the vote asap(NEM Foundation I mean to solve the problem that YOU HAVE MAKE)
also do the roadmap at these month and tell us about catapult these month
also I am stakeholder lot time before Lon Wong and Alex
and I help nem at the start a lot
so I want to know when original stakeholders will take rewards from silver coin found?

#75

also Alex what was your awards that you had at your previous works?
you are good or you simple fired from your previous works and come to NEM because not have anything else to do
we need answers!!
I am civil engeering

#76


memarioCatapult

18h

for real, the bankruptcy rumors were entirely unnecessary.
when NEM Foundation fixed the problem??? that you make?
after 1 day after 1 week after 1 month ?

#77

Indeed. There’s a huge number of people that have been paid by the foundation and no one even have heard their names. Get rid of those unnecessary positions like ”Country Leader of Colunmbia” jesus christ.

150 employees just spending funds and travelling around the globe without any ROI and now the same faces are asking 7.5 million dollars for what? We need tight budget with 70-80% cost to actual tech Development.

I would love to hear how much were the avarage salaries and how much Alex and others are charging.

1 Like
#78

yes we need to know details details details

also why need 150 people for what?
I believe 10 to 15 is all we need until CATAPULT WILL BE OUT

#79

for 15 max people 750.000 dollars is ok
why you need 7.5 millions for what reason
you want for what?
give us CATAPULT ROADMAP
give us CATAPULT OUT
and then come back and ask again for money
then I believe the community will give to us
more than 7.5 millions
now I do not think that you deserve more than MAX 1 million dollar

1 Like
#80

ALSO IF THE VOTE IS FAKE FOR TAKE the money you want these will be bad for nem

and best is to vote every person have NEM WALLET
why vote only the 200 person
REALLY DO NOT UNDERSTAND
maybe you want to vote only 200 person for fake the vote