i dont like the 10% for the silver because i want crypto for my money, not silver...thats something i said here many times and i think it will be ignored...
but a question regarding the % values:
what if (who knows) nem price increases fast to... hmm, lets say 100m$ marcetcap? do you still stay at the 10% for silver then and buy silver for millions of $? or is the 10% a maximum and you stop after (4000 - unclaimed stakes) silver coins?
Pretty sure only 4000 silver coins will be the cap. This is the only option which makes sense(4000 stakes-4000 coins). If NEM price increases hugely then 4000 silver coins will be ordered and the rest of the XEM will be put into some other use like development or marketing.
istn the target to buy a silver coin for each stakeholder? So why should we buy coins for the unclaimed stakes? And if we buy them who gets these coins? I think the maximum amount of stakes should be (4000 minus unclaimed stakes) or 10%, what ever is reached first.
P.S. and again, i dont like the silver idea at all
Yes, the coins are for the stakeholders, not the unclaimed/socks. Target is to buy about 2000, as I recall.
If the price of NEM goes to da moon before we buy the coins, extra stakes will be put into the unconventional marketing fund.
The altnemo website says the price of the silver coins is .6 BTC.
At todays BTC price that is about 139 USD for a one ounce silver coin.
The price of silver today is 16.45 USD per ounce.
Are we really going to pay 8.5 times the price of silver for a one ounce silver coin?
Cost of bullion is the cheapest part of the coins. Minting custom coins at a mint like Perth is not cheap and international, insured shipping is much more than the cost of the silver.
OK you said in the other thread that the cost is 95 USD per coin. For 4000 coins that is 380000 USD
The price being charged is 139 USD. That is 556000 USD
The profit is 176000 USD
Or am I missing something?
As far as I know it was discussed that any extra money would go to Altnemo which would then use the money for other projects after the silver coins.
I think the reality is the numbers or exact plans can't yet be exactly fixed until launch and a good marketcap is established. For instance if NEM is only worth 1 million USD then the silver coin project would have to be canceled because there simple wouldn't be the funding to pay for thousands of silver coins. Like wise if NEM gets to be worth 100 million, numbers will probably needed to be adjusted in the other way. Until then, it is guesstimates.
When it comes time to start collecting money for coins, I for one though would like to see a very clear and detailed plan of exactly what money will be going where and when and for what. I think NEM needs that kind of financial transparency if we are going to be successful.