Sensationalist news sells better than plain news I suppose

Crypto media outlets like ccn, Coindesk and Cointelegraph are utter pile of junk. Pretty sure that they wont write a thing when Catapult launch

Dave Hodgson
With regard to the CoinDesk article, there are three items I think should be corrected:1. NEM Foundation at this time has not submitted a proposal to the NCF for funding, despite CoinDesk saying it will, I have spoken to a member of the council and they are looking at other reserved funding pools (with a public vote), that was an interpretation2. The Foundation doesnt control any of those reserved pools, so the quote that the 202 members of the foundation will vote is unlikely to have any sway, it will need to be a community, probably PoI, vote. In a similar way Ventures did back in Sept.3. Lon Wong did not found "NEM" in 2015, NEM was released in 2015 and was "founded" by a forum post by UtopianFuture, NIS1 was released in 2015. About 1.5-2 years later (maybe 2016 or 2017 I don't have the date to hand) the foundation was created and funded by reserved pools allocated in the Genesis block for this type of purpose. @Erik_VH and @kodtycoon are 2 of the founding 10 members and because they were there, anything they say on this should be taken as good information. Lon Wong was the founding president of the NEM Foundation, not of NEM, NEM is a distributed community that has no single leader.I havent fact checked the rest but the above are 3 elements I know to be inaccurate.I would urge people to read the formal announcement from the Council on the NEM Forum: https://forum.nem.io/t/nem-foundation-message-to-the-community/21753 I personally appreciate the openness in this post and that there and intention to outline the plan to the community for approval and @DyNEMite (and the team) should be credited for being transparent with how they intend to deal with a situation.

There is a fourth item in the article that worries me and probably could be corrected, if confirmed by the three core devs.They also mention a community member/developer as source. Afterwards they mention "The developer said..." as if it is one of the NEM developers. A core dev or not?

Well, the 3 core devs coded the 97% of the code, also there was two minor devs: Makoto and Thies1965

And makoto was a problematic person

I don't think its healthy to try and speculate on who an anonymous source is folks, let's try and bring this one back to the NEM Ventures focus and leave NEM Red and Nemberia for those kinds of discussions

Yes, and last year there was some minor devs more

Just wanted to jump in here for a few minutes...

1.) The Coindesk article was pure click bait, I have no idea who they interviewed, it was a shit article.

2.) All messaging regarding media interviews is shared among our team and core devs so everyone is on the same page about what was said.

3.) The reality is the NEM Foundation did a financial audit in January and soon realized we were not given enough operations for even 2 months to maintain at the 2018 burn rate. So we paused all projects, all people and worked together to solve for these issues.

4.) We have been 100% transparent with the core devs every step of the way.

5.) The NEM Foundation operates as a separate entity and is one of many ecosystem contributors to the NEM open-source project. Therefore the NEM Foundation is not NEM. The NEM open source project remains strong and thriving. Catapult is unaffected. NEM Ventures is on track to do great things. And if the new NEM Foundation proposal is approved, then the 2019 NEM Foundation can do great things as well.

But that requires more funding than 2 months. During the transition from the 2018 Council to the 2019 Council, operating funds were temporarily inaccessible until the new leadership took office on January 1, 2019. This was due to transition registration problems with our bank. All operational funds were safe and untouched during this transition. When the 2019 Council took office, a financial audit was done and showed the new leadership had low operational funds and therefore could not sustain the burn rate of the previous 2018 operations. Therefore, a new Foundation restructure proposal was created and operations and staff were suspended until additional funding was secured.

So this is what we plan to share with the community soon. Please don't let ridiculous media articles color your thoughts on the future of NEM or the many partners supporting it. I remain hopeful and hope you will too. I'm answering questions in the forums if you have them. Thank you, NEM Ventures, for letting me take over your Telegram group for a few minutes.

Thanks Alex, just confirming that NEM Foundation is in full support to other contributors to the ecosytem like NEM Ventures.

Latest update from NEM Foundation in response to the CoinDesk article and more:https://forum.nem.io/t/nem-foundation-update-a-response-to-questions-and-anticipated-questions/21776

I am still confused how it was even possible to have such amount of emploeyees doing basically very little. Good that the foundation will be rebuild with different focus areas.

Yes, the focus area will get the organisation moving in a very targeted space - support towards Catapult launch in being product-focused and revenue-driven

Just put an update out on the forum with progress on Ventures for the past couple of weekshttps://forum.nem.io/t/nem-ventures-next-steps/19396/43If only we could pick up some CoinDesk coverage for our announcements 😉, If anyone has useful media contacts, do please feel free to make some introductions, we are starting to get to a stage of being almost ready to make some bigger PR announcements we think

Hey guys. I like to understand a situation for decision of investment here. My proposition to share here KPIs and then answers. For CryptoAds it is: Monthly revenue: $3k-$7k. Registered users: 7M+. MAU: 30k-50k, monthly transactions: 30-60k. Decision: declined

Ive deleted the off topic messages and remind people its an English only channel. Thanks

For all those that want to know what is happening with Catapult (https://github.com/nemtech/catapult-server) a good way is to keep an eye on the repo in relation to milestones. The devs finished C (Cow) and launched it, working on D (Dragon) just now and looking for community involvment to name the E one...Gimre has a poll up on twitter until the 13th:https://twitter.com/NCOSIGIMCITYNRE/status/1093204389651730434

eagle winning by a landslide haha

I joined the rest of the flock and voted eagle as well

but then nobody except you understands the pun

FYI - Catapult Cow milestone has just been published.Showing 1,324 changed files with 40,285 additions and 19,739 deletions.Devs have been hard at work. Impressive stuff.Details on whats new can be found here: https://github.com/nemtech/catapult-server/commit/18129e864e2f4e6633aa1db1b8245d6eb6cc6478