NEM silver coin for all stakeholders?


#1

As discussed for the last few weeks, there will be a large number of stakes left from sock puppets and unclaimed stakes.

The unclaimed stakes are likely to be put in a community fund and about 60% of the sock puppet stakes will likely be used to support NEM nodes for the next 3 years.

For the remaining stakes from the sock puppets, the stakes could be put into the community fund or be used to give a NEM 1 oz 999 silver proof bullion coin, minted at the Perth Mint, to every stake holder.

The physical silver coins would help people build a tangible connection to NEM and I would argue that it will make people less likely to dump and leave the NEM community. It is also a radical move that no other crypto has done before and I think we can generate a lot of press doing it.

Finally, giving a NEM silver coin to every nemster (1 stake, 1 coin, excluding dev/marketing/ecosystem stakes) will bring us all together equally, forwarding our movement's goal of creating equality of opportunity.

International, insured shipping will be included with each coin. If, for some reason, a stakeholder cannot or does not want a coin, they will get a NEMsilver asset on the NEM asset exchange, that they can sell to others. Also, if someone has fractional stakes (e.g., 0.3 NEMstake), they will be given 0.3 NEMsilver on the NEM asset exchange.

Distribution will be something like this:


    [li]Everyone in the nemesis block will receive an asset on the NEM asset exchange that is redeemable for a NEM silver coin.[/li]
    [li]If someone doesn't want the asset or wants anonymity, they can sell the asset or put it through a tumbler.[/li]
    [li]When someone wants to redeem for their coin, they just send in the asset, along with an encrypted message containing their address.[/li]


    In essence, this is creating a silver-backed, fully fungible digital currency. This is similar to the old US silver certificates, where the holder could redeem them for a silver coin. So here we have an opportunity to launch a bullion-back currency that is parallel to NEM and lives on the NEM asset exchange! A world first!

    These are the silver coins:


Silver coin project
#2

Here's one question about "Buy every stakeholder a silver coin"
How do we define a stakeholder?
Does that also include people who bought 0.1 NEMStake from AE?


If you have 0.1 NEMstake, you are a stake holder and will get 0.1 NEMsilver asset.

Stake holders are all the people in nemesis block (those who redeemed their stakes). Minus the dev/marketing/ecosystem stakes, because that wouldn't be fair.

#3

I've got another question about the coins:
Are the cold wallets on it are Stakeholder accounts (Accounts that have nem directly from the first block?)
In a few years ist could be very interesting to have 100NEM original from the first Block.
  :slight_smile:


#4

I am convinced this is a good idea marketing wise!  8)
And on top of that, it would be nice to have something fysical that relates to NEM.

However, can someone inform me about import rights?
What was the value of these coins ?


#5

I think giving silver coins to stakeholders is symbolically a very good thing. It really shows that this project is serious and that there is a lot of effort being put in, it is likely that the media also notices this. The price of coins and sending them is also quite low, so I don't see any reason why it shouldn't be done.


#6

You plan to deliver that silver to stakeholders? Cause im not sure if everyone would be OK with giving you their address.


#7


Just too clearify.
You take the stakes and send NEMsilver takens on ae.
What will you do with the stakes? sell?


#8

of course, the silver coins are not free…

the poll is missing one obvious option: burn stakes/give it to stakeholders.

for any reasons devs fear that option.


#9


We cannot force everyone to receive a silver coin - they may want NEMcoins or something else instead of this silver coin.

What are the expenses of silver coin and its posting ?


#10

100% agree

i invest in nem to receive nem and not physical silver. if i want silver, i buy it somewhere else.


#11

i have a different plan…

we have the community fund, the node fund, and companies that need investment and that will pay dividends.

stakes go to community fund. community fund invest in companies and the "tokens" for the investment get put into the node payout fund. the dividends from the newly acquired assets would extend the longevity of the fund and once the amount received in dividends is greater than the amount being payed to nodes the excess gets returned to the community fund for reinvestment which will in turn acquire more assets and more dividends.

this would cause a positive feedback loop that not only benefits nodes, but also funds projects, and increases the velocity of money greatly whilst also replenishing the community fund.

this would also boost the positive effect of the stakes now and leave behind a legacy effect that could maintain the growth in nodes for years to come due to the dividends being payed to the node payout fund. the ecosystem would directly and indirectly benefit from this process.

(i know the above is a bit off topic so started a new one: https://forum.ournem.com/index.php?topic=2670.0)

ps. i think people are voting out of greed apposed to logical processing of the idea.

thousands get sent coins. 100's get unclaimed leaving the same issue as the unclaimed stakes, low value due to 100's hitting the market from people who dont care about them, excessive funding being payed to the mint.(70% would go towards the cost of creating the coins correct? 70 stakes? really? bad idea i think and uneconomical even 50% would be uneconomical). not to mention people dont hold value to something they got for free. idk… seems like a good plan on the surface but i think their are some issues with it.


#12

voted!

As I, probably, will have problems with the silver importation, and have to pay a lot of tax here, I prefer invest my part in the continous devellopment of Nem.

:wink:


#13

You plan to deliver that silver to stakeholders? Cause im not sure if everyone would be OK with giving you their address.


That is really a very open issue ...

If the stakeholders must give their address, they give up their anonymity, which they had, when joined BTT and NEM. In the NEM announcement was not mentioned that in some phase they must give up their anonymity ...

#14


You plan to deliver that silver to stakeholders? Cause im not sure if everyone would be OK with giving you their address.


That is really a very open issue ...

If the stakeholders must give their address, they give up their anonymity, which they had, when joined BTT and NEM. In the NEM announcement was not mentioned that in some phase they must give up their anonymity ...


Sorry for not being clear earlier. I added more details in the description in the first post.

Everyone in the nemesis block would receive an asset on the NEM asset exchange that is redeemable for the coin. So that if someone doesn't want to give up their address for whatever reason, they can sell the asset on the open market. No one will be forced to give up any information.

Additionally, maybe we can have some kind of tumbler that will guarantee anonymity when sending in assets? Does anyone have any ideas about how to do this?

#15

I think giving silver coins to stakeholders is symbolically a very good thing. It really shows that this project is serious and that there is a lot of effort being put in, it is likely that the media also notices this. The price of coins and sending them is also quite low, so I don't see any reason why it shouldn't be done.


I think it would be a really great way to give something tangible to the community. Silver coins can last thousands of years, so I hope that people can pass this down in their family, showing them how NEM started and saved the world from economy destruction ^^

#16



You plan to deliver that silver to stakeholders? Cause im not sure if everyone would be OK with giving you their address.


That is really a very open issue ...

If the stakeholders must give their address, they give up their anonymity, which they had, when joined BTT and NEM. In the NEM announcement was not mentioned that in some phase they must give up their anonymity ...


Sorry for not being clear earlier. I added more details in the description in the first post.

Everyone in the nemesis block would receive an asset on the NEM asset exchange that is redeemable for the coin. So that if someone doesn't want to give up their address for whatever reason, they can sell the asset on the open market.
...


That may work - or not. It is little bit worse situation than now for them who have in their hands NEMstakes, which may come worthless.
For SilverCoinAssetExchange there may be buyers, who are just waiting for the drop - someone may sell for any price.

Will makoto and other "silvercoiners" promise that they buy all the SCAE's with proper prices?  ;)


#17




You plan to deliver that silver to stakeholders? Cause im not sure if everyone would be OK with giving you their address.


That is really a very open issue ...

If the stakeholders must give their address, they give up their anonymity, which they had, when joined BTT and NEM. In the NEM announcement was not mentioned that in some phase they must give up their anonymity ...


Sorry for not being clear earlier. I added more details in the description in the first post.

Everyone in the nemesis block would receive an asset on the NEM asset exchange that is redeemable for the coin. So that if someone doesn't want to give up their address for whatever reason, they can sell the asset on the open market.
...


That may work - or not. It is little bit worse situation than now for them who have in their hands NEMstakes, which may come worthless.
For SilverCoinAssetExchange there may be buyers, who are just waiting for the drop - someone may sell for any price.

Will makoto and other "silvercoiners" promise that they buy all the SCAE's with proper prices?  ;)


I think people who want the silver will definitely buy them up at the price determined by the open market. I can promise that we can allow them to be redeemable for at least half a year.

#18

Thanks for the explaination and more questions:
1. Some people applied for NEM with multiple accounts, is that fair they get more than one silver coin again?
2. Now we know the community account may take unclaimed stakes, how badly does the community still need the fund of sock puppet stake, what's the plan it would be used?
3. How much NEM would be in sock puppets, and how much would be in unclaimed stakes, could this be an open number before the decision here?
:)


1. 1 coin for each stake. Technically, the same person should not have multiple accounts, unless they bought assets on the asset exchange. The two account rule was for you and a loved one :)

2. The community fund should have > 10% of the currency in it, so it should be okay.

3. The final numbers are not known yet, but there will be enough sock puppet stakes to pay for the silver coins, in addition to funding nodes running the network for several years.

#19




You plan to deliver that silver to stakeholders? Cause im not sure if everyone would be OK with giving you their address.


That is really a very open issue ...

If the stakeholders must give their address, they give up their anonymity, which they had, when joined BTT and NEM. In the NEM announcement was not mentioned that in some phase they must give up their anonymity ...


Sorry for not being clear earlier. I added more details in the description in the first post.

Everyone in the nemesis block would receive an asset on the NEM asset exchange that is redeemable for the coin. So that if someone doesn't want to give up their address for whatever reason, they can sell the asset on the open market.
...


That may work - or not. It is little bit worse situation than now for them who have in their hands NEMstakes, which may come worthless.
For SilverCoinAssetExchange there may be buyers, who are just waiting for the drop - someone may sell for any price.

Will makoto and other "silvercoiners" promise that they buy all the SCAE's with proper prices?  ;)


Once on the AE, it will be a market wiling buyer willing seller basis. The only thing certain in life is death and taxes.;)

#20

Can I deduct from this that the AE will be working once NEM goes live?  ;D