Number of Coins Committee

Ideas
#64


One interesting idea from rockethead was to distribute 8 billion as stakes, then distribute 888,888,888 as rewards to nodes.


I have nothing against changing number of coins as long as percentage everyone gets remains the same.
If you add 888,888,888 as rewards to nodes everyone's slice gets 11% smaller... I don't think this is acceptable.

Also, we better avoid repeated 8: http://en.wikipedia.org/wiki/88_%28number%29#In_white_nationalism


8 999 999 999 then.;)

On the dilution, by the time we get to the addition of the coins, we are looking at 10 years down the road and the coins may have changed hands so many times over that it is no more significant.

Also think of it as mining fee as well. Bitcoin is slightly >50% and by the time it gets to 24 million it would have diluted 50%.

If things happen tomorrow, then I agree the impact is significant. But if this happen over a long period, it is insignificant dilution. Further, if NEM value goes up, it would more than compensate for it. If it goes down, it does not matter anymore at the end of the day.

Finally, it gives new comers hope to make a few NEMS. After all we are looking at fair distribution.
#65



I like the Pearson explanation presented by Rockethead elsewhere. So I am going with 8 Billion. And also how about 1 NEM = 1,000,000 Nematoes ?? It's got both NEM and Makoto in it? ;D



1,000,000 Tomatoes?
#66



I like the Pearson explanation presented by Rockethead elsewhere. So I am going with 8 Billion. And also how about 1 NEM = 1,000,000 Nematoes ?? It's got both NEM and Makoto in it? ;D



1,000,000 Tomatoes?


What sort of animal is that with so many toes?
#67




I like the Pearson explanation presented by Rockethead elsewhere. So I am going with 8 Billion. And also how about 1 NEM = 1,000,000 Nematoes ?? It's got both NEM and Makoto in it? ;D



1,000,000 Tomatoes?


What sort of animal is that with so many toes?

There are 8 children in a bus. Each child has 8 backpacks with them. There are 8 dogs sitting in each backpack. Every dog has 8 puppies with her. All these dogs have 8 legs, with 8 toes at each leg. What is the total number of toes in the bus? ;D
#68

just taking a look.  ;D

#69



One interesting idea from rockethead was to distribute 8 billion as stakes, then distribute 888,888,888 as rewards to nodes.


I have nothing against changing number of coins as long as percentage everyone gets remains the same.
If you add 888,888,888 as rewards to nodes everyone's slice gets 11% smaller... I don't think this is acceptable.

Also, we better avoid repeated 8: http://en.wikipedia.org/wiki/88_%28number%29#In_white_nationalism


8 999 999 999 then.;)

On the dilution, by the time we get to the addition of the coins, we are looking at 10 years down the road and the coins may have changed hands so many times over that it is no more significant.

Also think of it as mining fee as well. Bitcoin is slightly >50% and by the time it gets to 24 million it would have diluted 50%.

If things happen tomorrow, then I agree the impact is significant. But if this happen over a long period, it is insignificant dilution. Further, if NEM value goes up, it would morehttps://forum.ournem.com/Smileys/akyhne/wink.gif than compensate for it. If it goes down, it does not matter anymore at the end of the day.

Finally, it gives new comers hope to make a few NEMS. After all we are looking at fair distribution.


Eh if course it matters? If say I want to hold 100% of the coins from my stake for 10 years, I want it to be 1/4000 of the marketcap as been said all along. If you change the amount of coins it is not that big of a deal as long as each and every stake holder has 1/4000 of the TOTAL AMOUNT OF COINS.

It is NOT okay to add more coins (and lower the percentage stake holders get) with the explanation that it wont matter "cause if the value goes up it would compensate for it" (that explanation is really really strange).
#70

So until when will we have this decided?

#71

After reading through lots of posts on the matter I would go with 8b too… 88888xxxxx is too messy…

As for the 888xxxx node reward I think that should still come out of unclaimed/socks instead of diluting the percentage of each stake(atleast that's how it comes across).

#72



One interesting idea from rockethead was to distribute 8 billion as stakes, then distribute 888,888,888 as rewards to nodes.


I have nothing against changing number of coins as long as percentage everyone gets remains the same.
If you add 888,888,888 as rewards to nodes everyone's slice gets 11% smaller... I don't think this is acceptable.

Also, we better avoid repeated 8: http://en.wikipedia.org/wiki/88_%28number%29#In_white_nationalism


8 999 999 999 then.;)

On the dilution, by the time we get to the addition of the coins, we are looking at 10 years down the road and the coins may have changed hands so many times over that it is no more significant.

Also think of it as mining fee as well. Bitcoin is slightly >50% and by the time it gets to 24 million it would have diluted 50%.

If things happen tomorrow, then I agree the impact is significant. But if this happen over a long period, it is insignificant dilution. Further, if NEM value goes up, it would more than compensate for it. If it goes down, it does not matter anymore at the end of the day.

Finally, it gives new comers hope to make a few NEMS. After all we are looking at fair distribution.


Good point but we can postpone this discussion a couple of years when there will be newcomers and price will be grown.
#73

After reading through lots of posts on the matter I would go with 8b too.. 88888xxxxx is too messy..

As for the 888xxxx node reward I think that should still come out of unclaimed/socks instead of diluting the percentage of each stake(atleast that's how it comes across).


I am leaning towards a flat 8 billion.  repeated 8's is messy and now that there is a known association with white pride movements, it leaves a bad taste in my mouth.  I would really like to stay a very safe distance away from Hitler. 

I am all for the node reward coming out of unclaimed accounts or sock accounts.  I think there is enough play there.  Also, if there is and even 8 billion, then everybody can know that their share was an even 2 million of the final amount of NEM that will be eventually released.  It is much easier to grasp mentally. 

If people start off with 8 billion but then as time goes by the total number of NEM increases, they will feel diluted.  But if they start out with 2 million and the total number of NEM works up to 8 billion, then I feel like people will look as it as an early bonus. 

It is all because of the ease of doing the math creates a narrative of working towards or working away from. 

The narrative of bonus is always much better than the narrative of dilution. 

I know mathematically it is all the same, but emotionally it isn't.

The same emotional pulls that would make the market cap higher by going to 4 billion -> 8 billion are the exact same emotion pulls that will make people upset about going from 8 billion to 8.888888 billion and getting diluted. 
#74


After reading through lots of posts on the matter I would go with 8b too.. 88888xxxxx is too messy..

As for the 888xxxx node reward I think that should still come out of unclaimed/socks instead of diluting the percentage of each stake(atleast that's how it comes across).


I am leaning towards a flat 8 billion.  repeated 8's is messy and now that there is a known association with white pride movements, it leaves a bad taste in my mouth.  I would really like to stay a very safe distance away from Hitler. 

I am all for the node reward coming out of unclaimed accounts or sock accounts.  I think there is enough play there.  Also, if there is and even 8 billion, then everybody can know that their share was an even 2 million of the final amount of NEM that will be eventually released.  It is much easier to grasp mentally. 

If people start off with 8 billion but then as time goes by the total number of NEM increases, they will feel diluted.  But if they start out with 2 million and the total number of NEM works up to 8 billion, then I feel like people will look as it as an early bonus. 

It is all because of the ease of doing the math creates a narrative of working towards or working away from. 

The narrative of bonus is always much better than the narrative of dilution. 

I know mathematically it is all the same, but emotionally it isn't.

The same emotional pulls that would make the market cap higher by going to 4 billion -> 8 billion are the exact same emotion pulls that will make people upset about going from 8 billion to 8.888888 billion and getting diluted.


I agree completely.
#75

We could just set the number of coins to 8,999,999,999 and evenly divide that by 4000, so everyone will get the same share (1/4000th) as now. Then there is no problem, right?

#76

We could just set the number of coins to 8,999,999,999 and evenly divide that by 4000, so everyone will get the same share (1/4000th) as now. Then there is no problem, right?


Fine by me, but what are the reasons to go with 8.999999.. and not just 8?

I think 4 or 8 is best so the stake holders get one, or two whole millions.
#77


We could just set the number of coins to 8,999,999,999 and evenly divide that by 4000, so everyone will get the same share (1/4000th) as now. Then there is no problem, right?


Fine by me, but what are the reasons to go with 8.999999.. and not just 8?


8.999999 isnt like 9 Billion? some people wasnt happy with 3.999 and now they would be happy with 8.998?  strange  :P
#78

We could just set the number of coins to 8,999,999,999 and evenly divide that by 4000, so everyone will get the same share (1/4000th) as now. Then there is no problem, right?


Well, that would mean everyone would get 2,249,999.999750 out of 8,999,999,9999.000000 which isn't very clean. It happens to also be the exact same ratio as 2,000,000 out of 8,000,000,000.  I'd much rather keep it in a more simple format.
#79



We could just set the number of coins to 8,999,999,999 and evenly divide that by 4000, so everyone will get the same share (1/4000th) as now. Then there is no problem, right?


Fine by me, but what are the reasons to go with 8.999999.. and not just 8?


8.999999 isnt like 9 Billion? some people wasnt happy with 3.999 and now they would be happy with 8.998?  strange  :P


Who said they will be happy?  Mr Burns?  ;)
#80

Reason to go with 8,999,999,999 over 8 billion is because having more coins seems to be positively correlated with market cap, so you will all be richer.


NEM is divisible to 6 digits, so everyone would get 2,249,999.99975 NEM, which is a weird number, but people will just round to 2 million in conversation anyway.

#81

Reason to go with 8,999,999,999 over 8 billion is because having more coins seems to be positively correlated with market cap, so you will all be richer.


NEM is divisible to 6 digits, so everyone would get 2,249,999.99975 NEM, which is a weird number, but people will just round to 2 million in conversation anyway.


Mmmmm.  I like it.  More purchasing power. An everlasting(9) lucky number 8. And ' yes, I received 2 billion coins, well actually a bit more than that' in conversation.

You have convinced me Makoto.
#82

If it is too weird number, it could be redistributed as 2 millions for everyone and rest could go for bounties and really generous faceuts… But I mean really generous, they should be ready and working from the launch, so no Fudding about "premine". Also doing giveaways, in offcial forums of other coins in section "other altcoins"…it is normal, it used to be popular…it would be free money for new users, so hate from competion reasons shouldnt be too intensive.

Just give them NEM with value of 10 bucks, they wont complain. They will check our wallets, maybe our forums, will se we are legit. It might do good for NEM.

#83

If it is too weird number, it could be redistributed as 2 millions for everyone and rest could go for bounties and really generous faceuts... But I mean really generous, they should be ready and working from the launch, so no Fudding about "premine". Also doing giveaways, in offcial forums of other coins in section "other altcoins"..it is normal, it used to be popular...it would be free money for new users, so hate from competion reasons shouldnt be too intensive.

Just give them NEM with value of 10 bucks, they wont complain. They will check our wallets, maybe our forums, will se we are legit. It might do good for NEM.


Not entirely give away so easily but still unfortunately, not many think like you. Some want to make sure they want to gain the difference between 1/8B and 1/8.9999B. I have given up explaining. Too tired to talk about it. :(

https://forum.ournem.com/index.php?topic=2661.msg9595#msg9595