Nxt Forum

Nxt Discussion => Nxt General Discussion => Topic started by: swartzfeger on August 30, 2014, 07:04:48 am

Title: SuperNET TOKEN from BTER
Post by: swartzfeger on August 30, 2014, 07:04:48 am
September 26, 2014: SuperNET asset ID has been issued (https://nxtforum.org/index.php?topic=4940.msg107471#msg107471):

Official SuperNET asset 12071612744977229797
From SuperNET acct as issuer NXT-MRBN-8DFH-PFMK-A4DBM
19rh0tjq9c3micpkiimrm2h9fm6k9llru6rn84rqqb4fkj7sia8kqi1rmk0f3tg173cgasbcbe0ds2b0lc6d7443uepupt2g3ifs3i9dvk40bdlj7cbqtdmg96vl51rrcafved8p61vdmjf00h0fdn39uvcnbe8o

Token should be sent to NXT-7Y5B-J8LQ-SL5P-3ULFL if bought on AE.


---


For those that didn't see it in the other thread (plus this definitely deserves its own thread): James has officially announced Supernetwork details:

http://www.jl777.org/supernetwork-ipo/ (http://www.jl777.org/supernetwork-ipo/)
https://bitcointalk.org/index.php?topic=762346 (https://bitcointalk.org/index.php?topic=762346)

edit: changed subject line
Title: Re: SuperNET IPO/Poloniex
Post by: swartzfeger on August 30, 2014, 07:07:49 am
For those that didn't see it in the other thread (plus this definitely deserves its own thread): James has officially announced Supernetwork details:


http://www.jl777.org/supernetwork-ipo/ (http://www.jl777.org/supernetwork-ipo/)
https://bitcointalk.org/index.php?topic=762346 (https://bitcointalk.org/index.php?topic=762346)


And the Poloniex trollbox is buzzing right now -- very fun to follow and see interest outside our little echo chamber here are the forum. Nxt has needed some good news, and this is definitely 'good news'.
Title: Re: Supernetwork IPO/Poloniex
Post by: 2Kool4Skewl on August 30, 2014, 07:59:54 am
NXT investors get a 5% bonus and if you invest on the first day, you get a 15% bonus.

Protip: 20% bonus if you invest NXT on the first day.
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 08:05:18 am
NXT investors get a 5% bonus and if you invest on the first day, you get a 15% bonus.

Protip: 20% bonus if you invest NXT on the first day.
There could also be a frequent polo trader bonus, not sure of details yet
Title: Re: Supernetwork IPO/Poloniex
Post by: chanc3r on August 30, 2014, 08:08:06 am
For those that didn't see it in the other thread (plus this definitely deserves its own thread): James has officially announced Supernetwork details:


http://www.jl777.org/supernetwork-ipo/ (http://www.jl777.org/supernetwork-ipo/)
https://bitcointalk.org/index.php?topic=762346 (https://bitcointalk.org/index.php?topic=762346)


And the Poloniex trollbox is buzzing right now -- very fun to follow and see interest outside our little echo chamber here are the forum. Nxt has needed some good news, and this is definitely 'good news'.

+1440 YES its nice to see the sun rise this morning :)
Title: Re: SuperNET IPO/Poloniex
Post by: swartzfeger on August 30, 2014, 08:10:00 am
NXT investors get a 5% bonus and if you invest on the first day, you get a 15% bonus.

Protip: 20% bonus if you invest NXT on the first day.
There could also be a frequent polo trader bonus, not sure of details yet


James, do the bonuses only apply to Poloniex traders, or will regular NXT AE users receive the bonus as well? (or is this detail still being hammered out?)
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 08:14:31 am
NXT investors get a 5% bonus and if you invest on the first day, you get a 15% bonus.

Protip: 20% bonus if you invest NXT on the first day.
There could also be a frequent polo trader bonus, not sure of details yet


James, do the bonuses only apply to Poloniex traders, or will regular NXT AE users receive the bonus as well? (or is this detail still being hammered out?)
NXT and BTCD deposits get 5% bonus
conversion rate is calculated when IPO closes, so there is BTC price change risk, but that can go either way
Title: Re: Supernetwork IPO/Poloniex
Post by: Mexxer on August 30, 2014, 08:37:04 am
So how does the revenue sharing look like?

Will it be in form of dividends or just share value appreciation?
Title: Re: Supernetwork IPO/Poloniex
Post by: humbot on August 30, 2014, 08:51:58 am
The jl777 effect on BBR was a masterclass in the pump. On the day I just sat back and watched the high BTC walls thrown up and the chatter in the Poloniex trollbox.

Will be interesting to see how the Supernetwork goes.

jl777 - I thought I read somewhere that Supernetwork will be listed on the NXT asset exchange even though the IPO is on Poloniex - can you confirm?
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 08:54:13 am
The jl777 effect on BBR was a masterclass in the pump. On the day I just sat back and watched the high BTC walls thrown up and the chatter in the Poloniex trollbox.

Will be interesting to see how the Supernetwork goes.

jl777 - I thought I read somewhere that Supernetwork will be listed on the NXT asset exchange even though the IPO is on Poloniex - can you confirm?
first off a revaluation caused by a fundamental change is not a pump

IPO on poloniex. Once we have the totals, I issue the asset to create a starting price. Then Polo distributes it to everyone and trading starts. anybody at that point could withdraw and trade on AE

I make bridge from BTC world to NXT world
we are all united, at least we should be
money is the strongest glue
Title: Re: Supernetwork IPO/Poloniex
Post by: Silvio on August 30, 2014, 08:56:53 am
Am I too late? Where can I send my BTC & NXT to?  ;D. I also wanna buy a Latte at Starbucks every day!!1
Title: Re: Supernetwork IPO/Poloniex
Post by: tersagun on August 30, 2014, 09:03:56 am
Am I too late? Where can I send my BTC & NXT to?  ;D. I also wanna buy a Latte at Starbucks every day!!1

Not yet :-)
And I assume it will take at least few days to Polo implement such a thing which they have never done before if I'm not mistaken.
Title: Re: Supernetwork IPO/Poloniex
Post by: JackCelere on August 30, 2014, 09:08:41 am
Amazing, sounds really great! The only think I don't understand is why you've choosen Poloniex instead of Nxt AE to conduct the IPO. Using the Asset Exchange would increase multigateway volume and avoid a too big total volume; this way shares wouldn't be that diluted and small fishes wouldn't be eliminated.

That's a pity, I will have to grudgingly use an exchange, while, at the same time, we have powerfull decentralized tools.
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 09:14:30 am
So how does the revenue sharing look like?

Will it be in form of dividends or just share value appreciation?
I havent worked out all the details, but it will be like InstantDEX revenue stream that is being mostly for InstantDEX, but many different destinations for the balance of profits
Since Supernetwork will have salary costs of 0, overhead costs of 0 that means all revenues are profits
The chunks of coins are for long term hodl, so that will create the value appreciation
Then I will make a google Adwords style auction system for spots on the crossmarketing page (aka list of available services), so the click revenues from this will be split among asset holders and the various different other destinations, eg. BTCD stakers,  all nodes on supernetwork, coin communities, etc.
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 09:15:42 am
Am I too late? Where can I send my BTC & NXT to?  ;D. I also wanna buy a Latte at Starbucks every day!!1

Not yet :-)
And I assume it will take at least few days to Polo implement such a thing which they have never done before if I'm not mistaken.
IPO in September, will be hard to miss
Title: Re: Supernetwork IPO/Poloniex
Post by: vytasz7 on August 30, 2014, 09:18:17 am
Amazing, sounds really great! The only think I don't understand is why you've choosen Poloniex instead of Nxt AE to conduct the IPO. Using the Asset Exchange would increase multigateway volume and avoid a too big total volume; this way shares wouldn't be that diluted and small fishes wouldn't be eliminated.

That's a pity, I will have to grudgingly use an exchange, while, at the same time, we have powerfull decentralized tools.

if nxt AE asset excluded from ipo ,its no point to make it later.I gues a lot of nxters would like to participate in ipo through nxt ae not from poloniex.
Title: Re: Supernetwork IPO/Poloniex
Post by: Peter2516 on August 30, 2014, 09:18:59 am
Quote
This is the network that will be created by joining all the participating coins into a single unified network. Each coin will of course continue to operate normally, but there will be an option to use any of the services that are available in the Supernetwork. Each coin that joins the network makes it bigger and also adds its unique tech that is then crossmarketed to all the other nodes.

What kinds of services are these? Will participating coins start (optionally) using the AE and DGS?  :)
What will 'real life' use cases be? Mixers maybe?
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 09:22:39 am
Amazing, sounds really great! The only think I don't understand is why you've choosen Poloniex instead of Nxt AE to conduct the IPO. Using the Asset Exchange would increase multigateway volume and avoid a too big total volume; this way shares wouldn't be that diluted and small fishes wouldn't be eliminated.

That's a pity, I will have to grudgingly use an exchange, while, at the same time, we have powerfull decentralized tools.
Poloniex has helped me in the past. i like to help the ones that believed in me and helped me
My goal is global unification of crypto

Now I hear all this bickering over how we can tell people about NXT. I decide it is better to just show them. Supernetwork will be second biggest IPO behind ETH, at least that is my estimate. Now what is the effect on NXT, when it sinks in that the IPO is for a NXT asset?

We need a bridge between BTC world and NXT world. Money is the best way to bind things together
Also, there is not enough freely available NXT for this IPO and I dont want to get too high a concentration.
BTC is what is needed to get the deals with the new coins done

It is possible for every party to gain, so what is good for NXT is good for BTC is good for all the cryptos
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 09:26:46 am
Amazing, sounds really great! The only think I don't understand is why you've choosen Poloniex instead of Nxt AE to conduct the IPO. Using the Asset Exchange would increase multigateway volume and avoid a too big total volume; this way shares wouldn't be that diluted and small fishes wouldn't be eliminated.

That's a pity, I will have to grudgingly use an exchange, while, at the same time, we have powerfull decentralized tools.

if nxt AE asset excluded from ipo ,its no point to make it later.I gues a lot of nxters would like to participate in ipo through nxt ae not from poloniex.
well you will have to convince poloniex to implement this
I dont have the time to do the tracking and accounting of which day it was deposited, etc.
If you can convinced them to do it, then it is possible, but the problem is I dont know how much will come in, so how much to issue at what price?
If you can solve that too, then I will think about this
Supporting MGW is using up all my time available for non-coding, so I had to outsource all of this and Poloniex is also already dealing with NXT assets
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 09:29:18 am
Quote
This is the network that will be created by joining all the participating coins into a single unified network. Each coin will of course continue to operate normally, but there will be an option to use any of the services that are available in the Supernetwork. Each coin that joins the network makes it bigger and also adds its unique tech that is then crossmarketed to all the other nodes.

What kinds of services are these? Will participating coins start (optionally) using the AE and DGS?  :)
What will 'real life' use cases be? Mixers maybe?
Teleport, InstantDEX, Tradebots, Privatebet these are just from me and of course this leads to AE and DGS
for those that want to make money, I suggest to buy some NXT at these low prices. When the rest of crypto finally discovers all NXT can do, then the price should rebound quite nicely

each coin will also have its own unique service
so basically anything is possible
in fact even non-coin services can be added to Supernetwork
Title: Re: Supernetwork IPO/Poloniex
Post by: marcus03 on August 30, 2014, 09:29:45 am
Amazing, sounds really great! The only think I don't understand is why you've choosen Poloniex instead of Nxt AE to conduct the IPO. Using the Asset Exchange would increase multigateway volume and avoid a too big total volume; this way shares wouldn't be that diluted and small fishes wouldn't be eliminated.

That's a pity, I will have to grudgingly use an exchange, while, at the same time, we have powerfull decentralized tools.

if nxt AE asset excluded from ipo ,its no point to make it later.I gues a lot of nxters would like to participate in ipo through nxt ae not from poloniex.
well you will have to convince poloniex to implement this
I dont have the time to do the tracking and accounting of which day it was deposited, etc.
If you can convinced them to do it, then it is possible, but the problem is I dont know how much will come in, so how much to issue at what price?
If you can solve that too, then I will think about this
Supporting MGW is using up all my time available for non-coding, so I had to outsource all of this and Poloniex is also already dealing with NXT assets
You could offer tokens for 1 NXT each and after IPO transfer the assets by the sum of tokens bought.
Title: Re: Supernetwork IPO/Poloniex
Post by: JackCelere on August 30, 2014, 09:32:55 am
Thank you for your answer.

well you will have to convince poloniex to implement this
I dont have the time to do the tracking and accounting of which day it was deposited, etc.
If you can convinced them to do it, then it is possible, but the problem is I dont know how much will come in, so how much to issue at what price?
You should issue something like 99,999,999,999,999,999 shares and sell them at 1 NXT/u. Once the IPO is closed, you only have to issue another asset whose share number correspond to the number of shares sold, and to redistribute it to holders.

EDIT :
You could offer tokens for 1 NXT each and after IPO transfer the assets by the sum of tokens bought.
That's it.
Title: Re: Supernetwork IPO/Poloniex
Post by: chanc3r on August 30, 2014, 09:35:20 am
THIS IS GOOD NEWS why do people look at the glass half empty rather than half full!

IPO are best done OFF AE in my view, COINTROPILIS was a train wreck, basically if you were in US which is where most forging nodes were at the time your client picked up the asset creation block first and you could submit buys - a few people got all the best prices..

No much better to use an independent entity to collect the funds and then distrbute the asset proportionally once the total fund is known..

The GREAT NEWS is that this is an asset on NXT AE when it is issued, not XCP not BTSX

This forum needs to get out of its moaning rut and stop trying to tell people how to run their businesses.

"Always look on the bright side of life"

EDIT: the other great thing is that it gets more investors into the asset this way and they are then into NXT when they have their asset rather than having to get into NXT to get the asset...
Title: Re: Supernetwork IPO/Poloniex
Post by: tersagun on August 30, 2014, 09:38:07 am
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.
Title: Re: Supernetwork IPO/Poloniex
Post by: Fatih87SK on August 30, 2014, 09:38:10 am
Someone needs to write an article about this.

This is a huge project.

CoinTelegraph?
Title: Re: Supernetwork IPO/Poloniex
Post by: JackCelere on August 30, 2014, 09:42:19 am
@chanc3r Thinking back, you're right.
Title: Re: Supernetwork IPO/Poloniex
Post by: Mexxer on August 30, 2014, 09:46:37 am
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.

Well James will obviously not use the funds to pump up the price of those coins. He will probably buy in small portions to hold the price down before the announcement comes that this coin joins the supernetwork. So basically it's an IPO for a fund with inside information :)
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 09:51:32 am
Amazing, sounds really great! The only think I don't understand is why you've choosen Poloniex instead of Nxt AE to conduct the IPO. Using the Asset Exchange would increase multigateway volume and avoid a too big total volume; this way shares wouldn't be that diluted and small fishes wouldn't be eliminated.

That's a pity, I will have to grudgingly use an exchange, while, at the same time, we have powerfull decentralized tools.

if nxt AE asset excluded from ipo ,its no point to make it later.I gues a lot of nxters would like to participate in ipo through nxt ae not from poloniex.
well you will have to convince poloniex to implement this
I dont have the time to do the tracking and accounting of which day it was deposited, etc.
If you can convinced them to do it, then it is possible, but the problem is I dont know how much will come in, so how much to issue at what price?
If you can solve that too, then I will think about this
Supporting MGW is using up all my time available for non-coding, so I had to outsource all of this and Poloniex is also already dealing with NXT assets
YouPoloniex could offer tokens for 1 NXT each and after IPO transfer the assets by the sum of tokens bought.
I will make this suggestion to poloniex
Title: Re: Supernetwork IPO/Poloniex
Post by: chanc3r on August 30, 2014, 09:57:53 am
YouPoloniex could offer tokens for 1 NXT each and after IPO transfer the assets by the sum of tokens bought.
I will make this suggestion to poloniex

This will work if there are something like 1B tokens at 1NXT I guess, and poloniex can already trade NXT AE so could implement trading on AE and on exchange and it does avoid what we observed with COINTROPILIS on the AE.
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 10:01:43 am
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.

Well James will obviously not use the funds to pump up the price of those coins. He will probably buy in small portions to hold the price down before the announcement comes that this coin joins the supernetwork. So basically it's an IPO for a fund with inside information :)
A fundamental change in a coin that leads to its revaluation by the market is not a pump.
Supernetwork intends to obtain meaningful amounts of the coin's that join, whale will be doing the negotiating (if he can find the time).

So like the sharkfund had 10% of BBR, then BBR agrees to join Supernetwork and its price quadruples. Yes, this will happen, but it wont really help a fund with 10000 BTC to have quadrupled 10 BTC.

A lot of coins wont have 10% available (no whales) so the community would have to do a fund raiser to get 10% raised to be exchanged for BTC as a condition for acceptance. Any such exchange would be done at the trailing average price before the fund raising starts so any boost from the anticipation of being accepted wont skew the price and with acceptance contingent on raising the amount, there is some chance a community rejects this.

Title: Re: Supernetwork IPO/Poloniex
Post by: Mexxer on August 30, 2014, 10:07:58 am
coins have to sell 10% of their coin supply to the supernetwork in order to join?

Is that an official percentage or was that just an example to make a point? Because 10% is a little excessive considering coins with a high market cap might also want to join and also the fund might not have enough BTC for the high market cap coins.
Title: Re: Supernetwork IPO/Poloniex
Post by: tersagun on August 30, 2014, 10:10:28 am
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.

Well James will obviously not use the funds to pump up the price of those coins. He will probably buy in small portions to hold the price down before the announcement comes that this coin joins the supernetwork. So basically it's an IPO for a fund with inside information :)
A fundamental change in a coin that leads to its revaluation by the market is not a pump.
Supernetwork intends to obtain meaningful amounts of the coin's that join, whale will be doing the negotiating (if he can find the time).

So like the sharkfund had 10% of BBR, then BBR agrees to join Supernetwork and its price quadruples. Yes, this will happen, but it wont really help a fund with 10000 BTC to have quadrupled 10 BTC.

A lot of coins wont have 10% available (no whales) so the community would have to do a fund raiser to get 10% raised to be exchanged for BTC as a condition for acceptance. Any such exchange would be done at the trailing average price before the fund raising starts so any boost from the anticipation of being accepted wont skew the price and with acceptance contingent on raising the amount, there is some chance a community rejects this.

Exactly, using thousands of BTC for the potential coins would be a huge overkill. I'm wondering what the remaining funds of SuperNetwork will be used for.

BUt I do not get your last paragraph; the candidate coins community needs to do a fundraiser? So you'll not buy the coins off exchanges but you'll require the community to hand over 10% of total coins? I'm confused.
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 10:27:25 am
coins have to sell 10% of their coin supply to the supernetwork in order to join?

Is that an official percentage or was that just an example to make a point? Because 10% is a little excessive considering coins with a high market cap might also want to join and also the fund might not have enough BTC for the high market cap coins.
it is a guideline

Why do you think I am raising funds. If I wanted to do this for the small coins, I could just use sharkfund0
I estimate a need for around 10000 BTC. This should be enough to fully populate the Teleport Station with quite a few top 30 coins

James

P.S. Plz change OP to say SuperNET
Title: Re: Supernetwork IPO/Poloniex
Post by: salsacz on August 30, 2014, 10:28:15 am
coins supply is a fake number, since in the potential circulation are always much lower numbers of available coins
Title: Re: Supernetwork IPO/Poloniex
Post by: tersagun on August 30, 2014, 10:33:50 am
coins have to sell 10% of their coin supply to the supernetwork in order to join?

Is that an official percentage or was that just an example to make a point? Because 10% is a little excessive considering coins with a high market cap might also want to join and also the fund might not have enough BTC for the high market cap coins.
it is a guideline

Why do you think I am raising funds. If I wanted to make just a hobby for this I could do all the small coins from sharkfund0
I estimate a need for around 10000 BTC. This should be enough to fully populate the Teleport Station with quite a few top 30 coins

You are considering adding few top30 coins?

I assumed that you are going add "unique" coins which could have some advantages over others; BBR as a CN fork for example and several more to fill in the gaps to have a giant network where SuperNetwork is able to do ANYTHING any other coin do.

But now it seems more like you want to form a coin syndicate/union .

Edit: which isn't a bad thing, BTW. Just something else I initially thought of
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 10:36:41 am
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.

Well James will obviously not use the funds to pump up the price of those coins. He will probably buy in small portions to hold the price down before the announcement comes that this coin joins the supernetwork. So basically it's an IPO for a fund with inside information :)
A fundamental change in a coin that leads to its revaluation by the market is not a pump.
Supernetwork intends to obtain meaningful amounts of the coin's that join, whale will be doing the negotiating (if he can find the time).

So like the sharkfund had 10% of BBR, then BBR agrees to join Supernetwork and its price quadruples. Yes, this will happen, but it wont really help a fund with 10000 BTC to have quadrupled 10 BTC.

A lot of coins wont have 10% available (no whales) so the community would have to do a fund raiser to get 10% raised to be exchanged for BTC as a condition for acceptance. Any such exchange would be done at the trailing average price before the fund raising starts so any boost from the anticipation of being accepted wont skew the price and with acceptance contingent on raising the amount, there is some chance a community rejects this.

Exactly, using thousands of BTC for the potential coins would be a huge overkill. I'm wondering what the remaining funds of SuperNetwork will be used for.

BUt I do not get your last paragraph; the candidate coins community needs to do a fundraiser? So you'll not buy the coins off exchanges but you'll require the community to hand over 10% of total coins? I'm confused.
have you ever tried to buy 10% of a coin?
it is not easy.
there is no handing over of coins, but there does need to be the coins that are willing to be sold at the pre-joining price
what part of this is confusing?
there is no way to buy 10% of any coin without causing a big price bubble, which is harmful. I am not allowed to harm a crypto
Title: Re: Supernetwork IPO/Poloniex
Post by: tersagun on August 30, 2014, 10:42:20 am
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.

Well James will obviously not use the funds to pump up the price of those coins. He will probably buy in small portions to hold the price down before the announcement comes that this coin joins the supernetwork. So basically it's an IPO for a fund with inside information :)
A fundamental change in a coin that leads to its revaluation by the market is not a pump.
Supernetwork intends to obtain meaningful amounts of the coin's that join, whale will be doing the negotiating (if he can find the time).

So like the sharkfund had 10% of BBR, then BBR agrees to join Supernetwork and its price quadruples. Yes, this will happen, but it wont really help a fund with 10000 BTC to have quadrupled 10 BTC.

A lot of coins wont have 10% available (no whales) so the community would have to do a fund raiser to get 10% raised to be exchanged for BTC as a condition for acceptance. Any such exchange would be done at the trailing average price before the fund raising starts so any boost from the anticipation of being accepted wont skew the price and with acceptance contingent on raising the amount, there is some chance a community rejects this.

Exactly, using thousands of BTC for the potential coins would be a huge overkill. I'm wondering what the remaining funds of SuperNetwork will be used for.

BUt I do not get your last paragraph; the candidate coins community needs to do a fundraiser? So you'll not buy the coins off exchanges but you'll require the community to hand over 10% of total coins? I'm confused.
have you ever tried to buy 10% of a coin?
it is not easy.
there is no handing over of coins, but there does need to be the coins that are willing to be sold at the pre-joining price
what part of this is confusing?
there is no way to buy 10% of any coin without causing a big price bubble, which is harmful. I am not allowed to harm a crypto

So you'll either need a community effort or few major holders to collect and send you the coins. Either way, you have to let some people know that they are SuperNet candidates. Wouldn't people abuse that?
Once the word is out, everyone will expect the price to go up. Wouldn't that cause a price pump? There would be people who will sacrifice short-term gains by allowing to sell you at a fixed price but there will be some people to abuse it and instead of selling you at a fixed rate, they will collect the coins from the market and wait until SuperNet announcement rockets the price.
Title: Re: Supernetwork IPO/Poloniex
Post by: lucky331 on August 30, 2014, 10:47:41 am
wow. 
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 10:52:41 am
coins have to sell 10% of their coin supply to the supernetwork in order to join?

Is that an official percentage or was that just an example to make a point? Because 10% is a little excessive considering coins with a high market cap might also want to join and also the fund might not have enough BTC for the high market cap coins.
it is a guideline

Why do you think I am raising funds. If I wanted to make just a hobby for this I could do all the small coins from sharkfund0
I estimate a need for around 10000 BTC. This should be enough to fully populate the Teleport Station with quite a few top 30 coins

You are considering adding few top30 coins?

I assumed that you are going add "unique" coins which could have some advantages over others; BBR as a CN fork for example and several more to fill in the gaps to have a giant network where SuperNetwork is able to do ANYTHING any other coin do.

But now it seems more like you want to form a coin syndicate/union .

Edit: which isn't a bad thing, BTW. Just something else I initially thought of
To be eligible to become part of the core of SuperNET, a coin has to have something unique, now most of the top coins do have something unique
I expect initially I will run out of appropriate coins before I run out of BTC, but with the clear message that just forking a coin gets no consideration at all, then we will find more and more coins that are making unique features to be able to directly tap into the 100,000+ userbase of SuperNET
Title: Re: Supernetwork IPO/Poloniex
Post by: Peter2516 on August 30, 2014, 10:56:33 am
So there's no LTC in SuperNET... :P
Title: Re: Supernetwork IPO/Poloniex
Post by: Mexxer on August 30, 2014, 10:56:44 am
This could be pretty huge :)

Even though I don't think it will have a great ROI since the IPO has the same structure as the ethereum IPO, I might put up 1 BTC just to support the cause.

This will reflect ten-fold on the price of BTCD and Nxt.
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 10:57:51 am
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.

Well James will obviously not use the funds to pump up the price of those coins. He will probably buy in small portions to hold the price down before the announcement comes that this coin joins the supernetwork. So basically it's an IPO for a fund with inside information :)
A fundamental change in a coin that leads to its revaluation by the market is not a pump.
Supernetwork intends to obtain meaningful amounts of the coin's that join, whale will be doing the negotiating (if he can find the time).

So like the sharkfund had 10% of BBR, then BBR agrees to join Supernetwork and its price quadruples. Yes, this will happen, but it wont really help a fund with 10000 BTC to have quadrupled 10 BTC.

A lot of coins wont have 10% available (no whales) so the community would have to do a fund raiser to get 10% raised to be exchanged for BTC as a condition for acceptance. Any such exchange would be done at the trailing average price before the fund raising starts so any boost from the anticipation of being accepted wont skew the price and with acceptance contingent on raising the amount, there is some chance a community rejects this.

Exactly, using thousands of BTC for the potential coins would be a huge overkill. I'm wondering what the remaining funds of SuperNetwork will be used for.

BUt I do not get your last paragraph; the candidate coins community needs to do a fundraiser? So you'll not buy the coins off exchanges but you'll require the community to hand over 10% of total coins? I'm confused.
have you ever tried to buy 10% of a coin?
it is not easy.
there is no handing over of coins, but there does need to be the coins that are willing to be sold at the pre-joining price
what part of this is confusing?
there is no way to buy 10% of any coin without causing a big price bubble, which is harmful. I am not allowed to harm a crypto

So you'll either need a community effort or few major holders to collect and send you the coins. Either way, you have to let some people know that they are SuperNet candidates. Wouldn't people abuse that?
Once the word is out, everyone will expect the price to go up. Wouldn't that cause a price pump? There would be people who will sacrifice short-term gains by allowing to sell you at a fixed price but there will be some people to abuse it and instead of selling you at a fixed rate, they will collect the coins from the market and wait until SuperNet announcement rockets the price.
So you are saying that SuperNET will be making money but maybe some other people will buy up their coin to gain from the expected price gain too.

My priority is to make sure SuperNET gets the price before any increase due to SuperNET, that seems fair. What happens with the other coins being traded, well that is trading. There is a buyer and seller, so if they both know the possibility of a coin joining SuperNET and they trade, what abuse has happened?
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 11:01:19 am
This could be pretty huge :)

Even though I don't think it will have a great ROI since the IPO has the same structure as the ethereum IPO, I might put up 1 BTC just to support the cause.

This will reflect ten-fold on the price of BTCD and Nxt.
there will be no 60x on SuperNET, this is true. The ROI profile will be more like sharkfund, but with a back end dividend kicker from the massive user base.
1 BTC from 10000 supporters to unify crypto would be a nice outcome
I think it is relatively low risk as far as crypto investments go and still has the realistic chance to double or triple
Title: Re: Supernetwork IPO/Poloniex
Post by: ThomasVeil on August 30, 2014, 11:10:41 am
Haha, this guy :D

I think especially pushing NXT out our little bubble here like this is exactly what is needed. It's also the hardedst part. Good stuff James.

Will you go forward if you don't reach your 10k BTC goal?
It is a worryingly high number though. This will not evade the eyes from gov regulation and from scammers. Be careful.

we are all united, at least we should be
money is the strongest glue

I say blood and tears are stronger glue (https://nxtforum.org/index.php?topic=4919.msg93777#msg93777) :D


Amazing, sounds really great! The only think I don't understand is why you've choosen Poloniex instead of Nxt AE to conduct the IPO.

Well, to add my two cents apart of the reasons James just mentioned: He needs BTC. Which means if he would make a super-massive IPO on NXT then he would affect the price. Arguably pumping it artificially (because users need to enter) and negatively once James cashes out. People entering from outside NXT would also have an extra hassle/cost.
And, at some point (maybe after IPO is done), the asset will land on the asset exchange inevitably, and can be traded there.
Title: Re: Supernetwork IPO/Poloniex
Post by: devphp on August 30, 2014, 11:11:45 am
What happens if the IPO is "only" in the range of 1k-2k BTC? Would this Supernetwork still go into implementation, with some modifications perhaps? I just doubt the 10k BTC number.

EDIT: ThomasVeil beat me to it :)
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 11:19:25 am
Haha, this guy :D

I think especially pushing NXT out our little bubble here like this is exactly what is needed. It's also the hardedst part. Good stuff James.

Will you go forward if you don't reach your 10k BTC goal?
It is a worryingly high number though. This will not evade the eyes from gov regulation and from scammers. Be careful.

we are all united, at least we should be
money is the strongest glue

I say blood and tears are stronger glue (https://nxtforum.org/index.php?topic=4919.msg93777#msg93777) :D


Amazing, sounds really great! The only think I don't understand is why you've choosen Poloniex instead of Nxt AE to conduct the IPO.

Well, to add my two cents apart of the reasons James just mentioned: He needs BTC. Which means if he would make a super-massive IPO on NXT then he would affect the price. Arguably pumping it artificially (because users need to enter) and negatively once James cashes out. People entering from outside NXT would also have an extra hassle/cost.
And, at some point (maybe after IPO is done), the asset will land on the asset exchange inevitably, and can be traded there.
Even if only 500 BTC, it would be disappointing, but still allows for smaller coins. I would be shocked if less than that comes in for a fund which creates its own advantaged investments and is constructing a network of interlinked and cross marketed coins, with revenue sharing. Remember unlike other coin IPO's this one will be generating dividends.

Oh, and its for a good cause too! I think unifying crypto is something a lot of people wish they could do and now it is possible to contribute toward that, while getting a chance to make money at the same time.

If your govt has silly laws and you are not allowed to invest, then please dont invest. Only crypto is accepted. I touch no fiat.
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 11:23:28 am
What happens if the IPO is "only" in the range of 1k-2k BTC? Would this Supernetwork still go into implementation, with some modifications perhaps? I just doubt the 10k BTC number.

EDIT: ThomasVeil beat me to it :)
yes 1K to 2K is realistic, I just put 10K number out there as high end number
Title: Re: Supernetwork IPO/Poloniex
Post by: lucky331 on August 30, 2014, 11:39:38 am
coins have to sell 10% of their coin supply to the supernetwork in order to join?

Is that an official percentage or was that just an example to make a point? Because 10% is a little excessive considering coins with a high market cap might also want to join and also the fund might not have enough BTC for the high market cap coins.
it is a guideline

Why do you think I am raising funds. If I wanted to make just a hobby for this I could do all the small coins from sharkfund0
I estimate a need for around 10000 BTC. This should be enough to fully populate the Teleport Station with quite a few top 30 coins

You are considering adding few top30 coins?

I assumed that you are going add "unique" coins which could have some advantages over others; BBR as a CN fork for example and several more to fill in the gaps to have a giant network where SuperNetwork is able to do ANYTHING any other coin do.

But now it seems more like you want to form a coin syndicate/union .

Edit: which isn't a bad thing, BTW. Just something else I initially thought of
To be eligible to become part of the core of SuperNET, a coin has to have something unique, now most of the top coins do have something unique
I expect initially I will run out of appropriate coins before I run out of BTC, but with the clear message that just forking a coin gets no consideration at all, then we will find more and more coins that are making unique features to be able to directly tap into the 100,000+ userbase of SuperNET

what about greenbacks?  it's new and i think this is a project that could be perfect for supernet.

http://www.greenbackscurrency.com/site/

i like their debit card idea and could be the way to go.

edit:  just checked their roadmap:  http://www.greenbackscurrency.com/site/roadmap/

it could go places and if it takes both super net and a project like this to go side by side 'to the moon', why not right?
Title: Re: Supernetwork IPO/Poloniex
Post by: tersagun on August 30, 2014, 11:45:19 am

So you are saying that SuperNET will be making money but maybe some other people will buy up their coin to gain from the expected price gain too.

My priority is to make sure SuperNET gets the price before any increase due to SuperNET, that seems fair. What happens with the other coins being traded, well that is trading. There is a buyer and seller, so if they both know the possibility of a coin joining SuperNET and they trade, what abuse has happened?

My conercn is giving some few people an unfair advantage.

It's not easy to buy 10% of a coin, that's true. You cannot put a buy order of 50BTC. But I just don't really like the idea of giving people insider info so that they can buy prior to us. Once someone starts buying up, the coins price will rise hence the SuperNet's buy price.

Maybe this methods pro's outweigh the cons and there isn't a perfect method but I had to share my feedback.
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 11:49:05 am
coins have to sell 10% of their coin supply to the supernetwork in order to join?

Is that an official percentage or was that just an example to make a point? Because 10% is a little excessive considering coins with a high market cap might also want to join and also the fund might not have enough BTC for the high market cap coins.
it is a guideline

Why do you think I am raising funds. If I wanted to make just a hobby for this I could do all the small coins from sharkfund0
I estimate a need for around 10000 BTC. This should be enough to fully populate the Teleport Station with quite a few top 30 coins

You are considering adding few top30 coins?

I assumed that you are going add "unique" coins which could have some advantages over others; BBR as a CN fork for example and several more to fill in the gaps to have a giant network where SuperNetwork is able to do ANYTHING any other coin do.

But now it seems more like you want to form a coin syndicate/union .

Edit: which isn't a bad thing, BTW. Just something else I initially thought of
To be eligible to become part of the core of SuperNET, a coin has to have something unique, now most of the top coins do have something unique
I expect initially I will run out of appropriate coins before I run out of BTC, but with the clear message that just forking a coin gets no consideration at all, then we will find more and more coins that are making unique features to be able to directly tap into the 100,000+ userbase of SuperNET

what about greenbacks?  it's new and i think this is a project that could be perfect for supernet.

http://www.greenbackscurrency.com/site/

i like their debit idea and could be the way to go.
noashh and chanc3r will do the initial tech screening
whale will do the biz negotiations
I will review the ones that pass
I just dont have time to be reviewing all applicants. Also unless the coin is approaching us, we wont have time to be reaching out. So, if you think there is a good fit, please get the coin's dev/biz guy to get interested and they can contact me and I will coordinate with the others

So, the process is get the key person from the coin to contact me, after they understand the idea and the basics. I dont have time to keep repeating the same thing over and over.
Once they contact me, then we can see what the possibilities are

James
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 11:51:18 am

So you are saying that SuperNET will be making money but maybe some other people will buy up their coin to gain from the expected price gain too.

My priority is to make sure SuperNET gets the price before any increase due to SuperNET, that seems fair. What happens with the other coins being traded, well that is trading. There is a buyer and seller, so if they both know the possibility of a coin joining SuperNET and they trade, what abuse has happened?

My conercn is giving some few people an unfair advantage.

It's not easy to buy 10% of a coin, that's true. You cannot put a buy order of 50BTC. But I just don't really like the idea of giving people insider info so that they can buy prior to us. Once someone starts buying up, the coins price will rise hence the SuperNet's buy price.

Maybe this methods pro's outweigh the cons and there isn't a perfect method but I had to share my feedback.
trailing price meaning the price of yesterday, before SuperNET was known
dont worry, whale is good negotiator SuperNET will get good prices, coin community will love it, and there will even be dividends to each of the coin communities, so this is further positive feedback
Title: Re: Supernetwork IPO/Poloniex
Post by: tersagun on August 30, 2014, 11:57:30 am
Fair enough then :-)
Title: Re: Supernetwork IPO/Poloniex
Post by: Silvio on August 30, 2014, 12:41:50 pm
To what kind of entity will we give the money? Who is owner of the invested capital? I have seen a lot of assets depending on just one person; which in the worst case become worthless after different incidents. I really like the idea of the SuperNET; however, 2k BTC is a lot of money to spend.
Title: Re: Supernetwork IPO/Poloniex
Post by: whale on August 30, 2014, 12:44:41 pm
I would just like to confirm that I will be helping James select promising coins for SuperNET and negotiating cut-throat deals to ensure we hit our 10% target on each coin.

If you know of a promising coin that would be useful for SuperNET, please contact me. 
Title: Re: Supernetwork IPO/Poloniex
Post by: cobaltskky on August 30, 2014, 12:48:19 pm
(http://media.giphy.com/media/2o0nIkBSsU85G/giphy.gif)

Looks like I need to setup a Polo account...

Maybe I missed the explanation, but if you're accepting BTC on Polo, how are you tracking Nxt users who purchase the IPO?
Title: Re: Supernetwork IPO/Poloniex
Post by: Silvio on August 30, 2014, 01:08:06 pm
To what kind of entity will we give the money? Who is owner of the invested capital? I have seen a lot of assets depending on just one person; which in the worst case become worthless after different incidents. I really like the idea of the SuperNET; however, 2k BTC is a lot of money to spend.

I mean, if I understand the idea behind the IPO correctly, it has the purpose to collect money to build up a large connected network. Get different coins to integrate their features in this network. The invested money will lead to dividends out of the transaction fees. This dividend is the incentive to join and buy in.

However, you could also go for several investment rounds with a lower entry level. I think about the first stage with 100 BTC as a goal. With this, the network could get started. In a time frame of maybe two months there could be the next round. In this case the risk is not depending on one big shot. And after two months the conditions to raise money would be different as well...
Title: Re: Supernetwork IPO/Poloniex
Post by: Silvio on August 30, 2014, 01:15:02 pm
Maybe I am completely wrong, but I have a picture like this in mind....

(http://www.businessbanter.com/wp-content/uploads/2013/05/how-startup-funding-works-infographic.png)
Source: http://www.businessbanter.com/wp-content/uploads/2013/05/how-startup-funding-works-infographic.png
Title: Re: Supernetwork IPO/Poloniex
Post by: Peter2516 on August 30, 2014, 01:22:55 pm
This might be way too complicated for a Coindesk article. But maybe if many people send email to news@coindesk.com.. :)
Some things they like to know:

Quote
If you have a startup you want to pitch, please be sure you have included the following information, if you haven't already:

What, if any, venture capital backing do you have? Otherwise, how are you funded?
What are the backgrounds of the founding team?
What traction does your startup have?
What unique angle and potential does your startup bring to the cryptocurrency ecosystem?
Title: Re: Supernetwork IPO/Poloniex
Post by: Ludom on August 30, 2014, 01:27:41 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.
Title: Re: Supernetwork IPO/Poloniex
Post by: Sebastien256 on August 30, 2014, 01:34:36 pm
Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.

hehe, post a similiar thing in another thread... lol
Title: Re: Supernetwork IPO/Poloniex
Post by: cobaltskky on August 30, 2014, 01:35:00 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.

I'm in the same boat, Ludom - it would be nice if we had a flowchart that showed how all the different JL assets moved money between each other. :)  I own NXTVenture, NXTPrivacy, and InstantDEX.  And soon, probably some superNET.  I get how NXTVenture works, but the other three are a big mystery to me on how they make money to payout dividends!
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 02:03:49 pm
To what kind of entity will we give the money? Who is owner of the invested capital? I have seen a lot of assets depending on just one person; which in the worst case become worthless after different incidents. I really like the idea of the SuperNET; however, 2k BTC is a lot of money to spend.
the owner is SuperNET
SuperNET depends on dozen+ coins and their communities, I am just the one with crazy idea for this
I have no need to personally hold the funds, I just need to have discretion over how it is invested
Do you trust Poloniex to hold the funds?
please do not invest 2K BTC, that is too much for one person
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 02:05:40 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.

I'm in the same boat, Ludom - it would be nice if we had a flowchart that showed how all the different JL assets moved money between each other. :)  I own NXTVenture, NXTPrivacy, and InstantDEX.  And soon, probably some superNET.  I get how NXTVenture works, but the other three are a big mystery to me on how they make money to payout dividends!
NXTventure is the most complicated one!
NXTprivacy owns half of Privatebet and 30% of cryptocard and it will also be the one collecting Teleport fees, any other privacy related tech will go into NXTprivacy

InstantDEX is getting 0.1% commissions on the trades made

Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 02:06:16 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.

I'm in the same boat, Ludom - it would be nice if we had a flowchart that showed how all the different JL assets moved money between each other. :)  I own NXTVenture, NXTPrivacy, and InstantDEX.  And soon, probably some superNET.  I get how NXTVenture works, but the other three are a big mystery to me on how they make money to payout dividends!
plz ask uniqorn for flowcharts, he said he would do them back in May
Title: Re: Supernetwork IPO/Poloniex
Post by: cobaltskky on August 30, 2014, 02:07:45 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.

I'm in the same boat, Ludom - it would be nice if we had a flowchart that showed how all the different JL assets moved money between each other. :)  I own NXTVenture, NXTPrivacy, and InstantDEX.  And soon, probably some superNET.  I get how NXTVenture works, but the other three are a big mystery to me on how they make money to payout dividends!
plz ask uniqorn for flowcharts, he said he would do them back in May

I would if he wasn't banned for the weekend. lol
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 02:10:21 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.
I will have to buy any SuperNET I get, so it is very likely that SuperNET will end up with some sharkfund0, InstantDEX, NXTprivacy, Privatebet, maybe even some JLH

So, I make SuperNET the single asset to invest in to represent jl777 as it will have the big percentage of my personal assets. I think this will make the flowchart much easier.

JLH will not get SuperNET, but SuperNET will probably get JLH
Title: Re: Supernetwork IPO/Poloniex
Post by: cobaltskky on August 30, 2014, 02:18:39 pm
MICoin has picked up on this. ;)

https://nxtforum.org/assets-board/(ann)(micoin)the-most-interesting-coin-in-the-world-pure-90-pom/msg94055/#msg94055
Title: Re: Supernetwork IPO/Poloniex
Post by: jefdiesel on August 30, 2014, 02:22:27 pm

there is no way to buy 10% of any coin without causing a big price bubble, which is harmful. I am not allowed to harm a crypto

James first rule of Crytpo
Title: Re: Supernetwork IPO/Poloniex
Post by: humbot on August 30, 2014, 02:36:27 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.

I'm in the same boat, Ludom - it would be nice if we had a flowchart that showed how all the different JL assets moved money between each other. :)  I own NXTVenture, NXTPrivacy, and InstantDEX.  And soon, probably some superNET.  I get how NXTVenture works, but the other three are a big mystery to me on how they make money to payout dividends!

I'm also trying to understand it. Another post from James on a different forum.

https://bitcointalk.org/index.php?topic=762346.79
Quote
Owners of SuperNET will be getting dividends from its click revenues.

Each asset represents a proportional share of SuperNET. SuperNET has BTC + NXT + BTCD + coins, then the services which will be at least InstantDEX, Teleport, Tradebots and Privatebet.

Also I will only own the percentage of SuperNET proprotional to my contribution of the InstantDEX, NXTprivacy, NXTcoinsco and Privatebet and the ownership of these assets will generate the base revenue for SuperNET. When more services are added then the click auction will generate more revenues. The details for the monetization are things that can be fine tuned to maximize the usage and this is only achieved with experimentation.

Now the revenues from SuperNET (clicks and dividends) will be distributed, half to owners of the asset and the other half to various parties, eg. BTCD stakers, coin communities, people running nodes, etc.
Title: Re: Supernetwork IPO/Poloniex
Post by: abuelau on August 30, 2014, 02:44:55 pm
I havent worked out all the details, but it will be like InstantDEX revenue stream that is being mostly for InstantDEX, but many different destinations for the balance of profits
Since Supernetwork will have salary costs of 0, overhead costs of 0 that means all revenues are profits
The chunks of coins are for long term hodl, so that will create the value appreciation
Then I will make a google Adwords style auction system for spots on the crossmarketing page (aka list of available services), so the click revenues from this will be split among asset holders and the various different other destinations, eg. BTCD stakers,  all nodes on supernetwork, coin communities, etc.

Why don't you use Nxtad for that? It would fit your needs perfectly and we would be happy to get a very special deal for you! ;-)
Title: Re: Supernetwork IPO/Poloniex
Post by: Ludom on August 30, 2014, 02:47:33 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.
I will have to buy any SuperNET I get, so it is very likely that SuperNET will end up with some sharkfund0, InstantDEX, NXTprivacy, Privatebet, maybe even some JLH

So, I make SuperNET the single asset to invest in to represent jl777 as it will have the big percentage of my personal assets. I think this will make the flowchart much easier.

JLH will not get SuperNET, but SuperNET will probably get JLH

It means you will sell some of your personnal assets stock to buy some SuperNET assets or do you pay directly your SuperNET with the this InstantDEX, JLH, privatebet and the other assets ?

From which account come this JLH, InstantDEX and other assets ? Sharkfund0 or other account  ?

SuperNET could have some JLH but are they dumping them or holding them ?
Title: Re: Supernetwork IPO/Poloniex
Post by: Silvio on August 30, 2014, 02:50:30 pm
To what kind of entity will we give the money? Who is owner of the invested capital? I have seen a lot of assets depending on just one person; which in the worst case become worthless after different incidents. I really like the idea of the SuperNET; however, 2k BTC is a lot of money to spend.
the owner is SuperNET
SuperNET depends on dozen+ coins and their communities, I am just the one with crazy idea for this
I have no need to personally hold the funds, I just need to have discretion over how it is invested
Do you trust Poloniex to hold the funds?
please do not invest 2K BTC, that is too much for one person

I see; its an awesome undertaking and I try to support it as best as I can. I will do my homework first and approach you with some papers around end of september. Good luck!!


EDIT: yes, I do trust Poloniex; its the exchange I trade on ;-)
Title: Re: Supernetwork IPO/Poloniex
Post by: jl777 on August 30, 2014, 02:54:46 pm
I have a question about your other funds : jl777hodl and sharkfund0

Do you planed that this fund will have SuperNET asset ? Receive or buyed ?

Your project is huge, but I'm a little bit lost with all this differents funds and their connections between each other.
I will have to buy any SuperNET I get, so it is very likely that SuperNET will end up with some sharkfund0, InstantDEX, NXTprivacy, Privatebet, maybe even some JLH

So, I make SuperNET the single asset to invest in to represent jl777 as it will have the big percentage of my personal assets. I think this will make the flowchart much easier.

JLH will not get SuperNET, but SuperNET will probably get JLH

It means you will sell some of your personnal assets stock to buy some SuperNET assets or do you pay directly your SuperNET with the this InstantDEX, JLH, privatebet and the other assets ?

From which account come this JLH, InstantDEX and other assets ? Sharkfund0 or other account  ?

SuperNET could have some JLH but are they dumping them or holding them ?
I will swap my personal assets in my personal acct for SuperNET asset
no sales will happen on open market for this
SuperNET does not dump, it might make market for itself and the coins, but to provide liquidity like I do with sharkfund0
Title: Re: Supernetwork IPO/Poloniex
Post by: Ludom on August 30, 2014, 03:17:42 pm
Ok, thanks for the anwer. :)
Title: Re: SuperNET IPO/Poloniex
Post by: Jacinto on August 30, 2014, 04:41:59 pm
I am reading this while walking with my phone so I am not getting a shit.  :P

 Anyway, it sounds interesting and huge

Title: Re: SuperNET IPO/Poloniex
Post by: nextcafe on August 30, 2014, 06:31:28 pm
How do I get in on this?  :o

(http://www.shellypalmer.com/images/2013/01/shut-up-and-take-my-money.jpeg)

(http://reactiongifs.me/wp-content/uploads/2014/03/I-am-rich-floyd-mayweather-throwing-money.gif)
Title: Re: SuperNET IPO/Poloniex
Post by: theironman on August 30, 2014, 06:50:55 pm
How do I get in on this?  :o

(http://www.shellypalmer.com/images/2013/01/shut-up-and-take-my-money.jpeg)

(http://reactiongifs.me/wp-content/uploads/2014/03/I-am-rich-floyd-mayweather-throwing-money.gif)
+1440
Title: Re: SuperNET IPO/Poloniex
Post by: kodtycoon on August 30, 2014, 07:14:08 pm
is there an estimated time for when the ipo will be?
Title: Re: SuperNET IPO/Poloniex
Post by: Mexxer on August 30, 2014, 07:17:06 pm
is there an estimated time for when the ipo will be?

Apparently the entire month of September. But we will have to wait for more details from Poloniex when it will actually start.
Title: Re: SuperNET IPO/Poloniex
Post by: theironman on August 30, 2014, 07:17:28 pm
is there an estimated time for when the ipo will be?

Email list would be good, so we are informed when it launches.
Title: Re: SuperNET IPO/Poloniex
Post by: kodtycoon on August 30, 2014, 08:00:54 pm
is there an estimated time for when the ipo will be?

Email list would be good, so we are informed when it launches.

+1 great idea..
Title: Re: SuperNET IPO/Poloniex
Post by: Dunster on August 30, 2014, 08:13:15 pm
Is or will be SuperNet IPO available as a NXT asset on the DAE?
Title: Re: SuperNET IPO/Poloniex
Post by: prometheus on August 30, 2014, 08:16:10 pm
nxt/btcd/bbr....and now supernet IPO


very excited about this. great news for cryptos!


place your BTCs strategically and i think you will come out quite wealthy in the upcoming months
Title: Re: SuperNET IPO/Poloniex
Post by: Mexxer on August 30, 2014, 08:16:23 pm
Is or will be SuperNet IPO available as a NXT asset on the DAE?

nope

https://nxtforum.org/index.php?topic=4940.msg93904#msg93904

https://nxtforum.org/index.php?topic=4940.msg93905#msg93905
Title: Re: SuperNET IPO/Poloniex
Post by: Dunster on August 30, 2014, 08:18:36 pm
But SuperNET will be a Nxt asset after the IPO that I can transfer to my Nxt account?
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on August 30, 2014, 08:25:21 pm
But SuperNET will be a Nxt asset after the IPO that I can transfer to my Nxt account?

As I understand it...

IPO will be an IPO on poloniex and maybe on AE as they could use an IPO token - we wait to hear from poloniex.

After the IPO is complete, funds will be counted and SuperNet assets distributed and these will be NXT assets which you can transfer to your account on NXT AE or SecureAE
Title: Re: SuperNET IPO/Poloniex
Post by: Dunster on August 30, 2014, 08:34:36 pm
Wow is just like Vancouver Stock Exchange mining stocks in the 1980s without the nasty Securities Commission.  ;D
Title: Re: SuperNET IPO/Poloniex
Post by: Berry on August 30, 2014, 09:26:16 pm


I am still trying to figure this out.

1. So Supernet collect 1k BTC or something.
With this BTC it is going to buy coins, bigger ones and smaller ones.
And with this coins it is what?  Just hold?
What happens if the coins rise or decrease? Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right?

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what?

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT?

Title: Re: SuperNET IPO/Poloniex
Post by: frohlocke on August 30, 2014, 09:36:46 pm
I think someone is starting a scam here.
    
» ASSETS » Profile View
Name    :    SuperNET
Asset    :    14592971723476605824
Title: Re: SuperNET IPO/Poloniex
Post by: Sebastien256 on August 30, 2014, 09:42:35 pm
I think someone is starting a scam here.
    
» ASSETS » Profile View
Name    :    SuperNET
Asset    :    14592971723476605824

Yes, it seem to come from the Ntxroad asset issuer...
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on August 30, 2014, 09:44:26 pm
lol  What a jackass.  Yeah, the money to fund this immaturity originated from the NXTRoad account.

Posted this to warn people:

https://nxtforum.org/scam-alert!/supernet-asset/
Title: Re: SuperNET IPO/Poloniex
Post by: nextcafe on August 30, 2014, 10:38:46 pm
SuperNET makes me think of this song

http://www.youtube.com/watch?v=rKIxd5e_ydI

Title: Re: SuperNET IPO/Poloniex
Post by: rudeboi on August 30, 2014, 11:18:56 pm
Hopefully people will be able to get into the IPO on poloniex with NXT as well as btc or NXT price will take a tumble with people changing Nxt to btc just to get into the IPO.

By the way loving the supetnet idea!
Title: Re: SuperNET IPO/Poloniex
Post by: instacash on August 30, 2014, 11:22:46 pm
Hopefully people will be able to get into the IPO on poloniex with NXT as well as btc or NXT price will take a tumble with people changing Nxt to btc just to get into the IPO.

By the way loving the supernet idea!

this is what James posted on BCT:


James, you say you need BTC and give a 5% bonus for whoever pays with BTCD and / or NXT.

I suppose a lot of people will throw NXT at it (I will), but as you say you need BTC you need to sell those NXT for BTC and thus putting sell pressure on NXT.
Will you try to prevent this from happening?

If happens what you think and I think it's not unreasonable, you collect 1000+ BTC in value, you will collect several million NXT easily, Those need to be offloaded by you. That effect worries me a little.

Sorry if someone else already asked this, I didn't have time to read the whole thread yet.
I am not understanding. Are you really suggesting that there will not be enough BTC for doing the coin deals? I am expecting some thousands of BTC to come in. Why would I sell the NXT or BTCD when these are undervalued compared to BTC? In fact I am sure that many coins would ask to be getting the NXT or BTCD instead of BTC, or maybe there is some sort of mix.

"Those need to be offloaded by you" indicates you are sure of something, but it turns out it is not true. Did I say I must offload all the NXT and BTCD? So, please give me some credit for not being stupid. I think I have earned that.

I am giving a small bonus (not arbitrageable) to the NXT and BTCD communities and accepting direct so they dont have to sell it to get SuperNET. Dont you see you have it backwards. By allowing this I prevent sales of millions of NXT to get BTC. Sometimes you worry me with your gloom and doom. Maybe you need to get a nice Starbucks latte! That is always for making good mood, it is probably the caffeine and sugar but still doomy gloomy is not fun

James
Title: Re: SuperNET IPO/Poloniex
Post by: EvilDave on August 30, 2014, 11:23:49 pm
lol  What a jackass.  Yeah, the money to fund this immaturity originated from the NXTRoad account.

Posted this to warn people:

https://nxtforum.org/scam-alert!/supernet-asset/

Thats got to be some kind of record, from SuperNET announcement to first scam: 18 hours.

@rudeboi: even better, NXT investors in the SuperNET IPO will get a 5% discount/bonus. So people will be converting their BTC into NXT......... ::)
Title: Re: SuperNET IPO/Poloniex
Post by: rudeboi on August 30, 2014, 11:31:26 pm
Cheers for pointing out those points guys, I haven't used poloniex yet and there were too many posts to sift through to find out all the details of the IPO.

All sounds good to me.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 30, 2014, 11:50:15 pm
lol  What a jackass.  Yeah, the money to fund this immaturity originated from the NXTRoad account.

Posted this to warn people:

https://nxtforum.org/scam-alert!/supernet-asset/

Thats got to be some kind of record, from SuperNET announcement to first scam: 18 hours.

@rudeboi: even better, NXT investors in the SuperNET IPO will get a 5% discount/bonus. So people will be converting their BTC into NXT......... ::)
I didnt want to artificially boost NXT price so I set it as high as I could but still not worth the troubles to arbitrage
So I did the best I could to reward loyal NXT'ers

Based on the initial reaction across the entire crypto landscape, I think NXT finally will be "discovered"
As this discovery filters through it will create a steady buying pressure, but I dont think any sort of buying panic as there is ample supply from our whales that everybody loves to hate.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 30, 2014, 11:52:08 pm
It is sad that someone is trying to scam people already :(
Now it should be clear to anybody that read the details that the official asset cannot be issued until the final tallies are made, so this would be mid to late September
Any asset issued before then is clearly a scam
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on August 31, 2014, 12:11:27 am
It is sad that someone is trying to scam people already :(
Now it should be clear to anybody that read the details that the official asset cannot be issued until the final tallies are made, so this would be mid to late September
Any asset issued before then is clearly a scam

Imitation is the sincerest form of flattery, James. ;)
Title: Re: SuperNET IPO/Poloniex
Post by: sparta_cuss on August 31, 2014, 12:47:24 am
James,
In one of your posts a number of months ago (March, maybe?), you wrote that you were organizing your assets the way some Japanese companies organize theirs - with lots of interlocking ownership/dividend types of arrangements, because this tended to create greater resilience for all those in the system, and positive feedback loops. I think the idea is fascinating, and I want to learn more. Is there a name for this style of organization? Is there something I can read?
Thanks. I know you're rather busy right now.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 01:00:13 am
James,
In one of your posts a number of months ago (March, maybe?), you wrote that you were organizing your assets the way some Japanese companies organize theirs - with lots of interlocking ownership/dividend types of arrangements, because this tended to create greater resilience for all those in the system, and positive feedback loops. I think the idea is fascinating, and I want to learn more. Is there a name for this style of organization? Is there something I can read?
Thanks. I know you're rather busy right now.
http://en.wikipedia.org/wiki/Keiretsu
Title: Re: SuperNET IPO/Poloniex
Post by: sparta_cuss on August 31, 2014, 01:18:06 am
James,
In one of your posts a number of months ago (March, maybe?), you wrote that you were organizing your assets the way some Japanese companies organize theirs - with lots of interlocking ownership/dividend types of arrangements, because this tended to create greater resilience for all those in the system, and positive feedback loops. I think the idea is fascinating, and I want to learn more. Is there a name for this style of organization? Is there something I can read?
Thanks. I know you're rather busy right now.
http://en.wikipedia.org/wiki/Keiretsu

Excellent. Thank you!
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 01:38:33 am
It is sad that someone is trying to scam people already :(
Now it should be clear to anybody that read the details that the official asset cannot be issued until the final tallies are made, so this would be mid to late September
Any asset issued before then is clearly a scam

Imitation is the sincerest form of flattery, James. ;)

Quote
Posted this to warn people:
https://nxtforum.org/scam-alert!/supernet-asset/
people not familiar with how assets work are now using this to claim SuperNET is a scam.
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on August 31, 2014, 02:21:18 am
It is sad that someone is trying to scam people already :(
Now it should be clear to anybody that read the details that the official asset cannot be issued until the final tallies are made, so this would be mid to late September
Any asset issued before then is clearly a scam

Imitation is the sincerest form of flattery, James. ;)

Quote
Posted this to warn people:
https://nxtforum.org/scam-alert!/supernet-asset/
people not familiar with how assets work are now using this to claim SuperNET is a scam.

Hey James.. no, someone ELSE made a fake SuperNET.. The person who made the NXtRoad asset too..

ANy GUesses?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 02:24:38 am
It is sad that someone is trying to scam people already :(
Now it should be clear to anybody that read the details that the official asset cannot be issued until the final tallies are made, so this would be mid to late September
Any asset issued before then is clearly a scam

Imitation is the sincerest form of flattery, James. ;)

Quote
Posted this to warn people:
https://nxtforum.org/scam-alert!/supernet-asset/
people not familiar with how assets work are now using this to claim SuperNET is a scam.

Hey James.. no, someone ELSE made a fake SuperNET.. The person who made the NXtRoad asset too..

ANy GUesses?
GLEFU the overlord
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on August 31, 2014, 02:27:28 am
people not familiar with how assets work are now using this to claim SuperNET is a scam.

Then they aren't really reading my post.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 02:45:46 am
people not familiar with how assets work are now using this to claim SuperNET is a scam.

Then they aren't really reading my post.
exactly
that is why the headline writers have more influence on public perception that the writers who actually write the articles

the URL was all that was posted
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on August 31, 2014, 02:48:46 am
people not familiar with how assets work are now using this to claim SuperNET is a scam.

Then they aren't really reading my post.
exactly
that is why the headline writers have more influence on public perception that the writers who actually write the articles

the URL was all that was posted

Well, then the headline writers need to be spoken to, don't you think?  I think it's called "yellow journalism."

I added some additional information in the thread that concisely spells it out for individuals who don't read paragraphs.
Title: Re: Supernetwork IPO/Poloniex
Post by: crypto4jan on August 31, 2014, 06:29:16 am
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.

Well James will obviously not use the funds to pump up the price of those coins. He will probably buy in small portions to hold the price down before the announcement comes that this coin joins the supernetwork. So basically it's an IPO for a fund with inside information :)
A fundamental change in a coin that leads to its revaluation by the market is not a pump.
Supernetwork intends to obtain meaningful amounts of the coin's that join, whale will be doing the negotiating (if he can find the time).

So like the sharkfund had 10% of BBR, then BBR agrees to join Supernetwork and its price quadruples. Yes, this will happen, but it wont really help a fund with 10000 BTC to have quadrupled 10 BTC.

A lot of coins wont have 10% available (no whales) so the community would have to do a fund raiser to get 10% raised to be exchanged for BTC as a condition for acceptance. Any such exchange would be done at the trailing average price before the fund raising starts so any boost from the anticipation of being accepted wont skew the price and with acceptance contingent on raising the amount, there is some chance a community rejects this.
Ok I'm a BIG Whale in EnergyCoin with 10% of all the coins.
I read a lot of pages of Supernetwork and it is kind of option construction.
I do not want to lose control of the coins I 'he because I 've plans with application for the coin.
See my twitter posts @GEO_Jan
How can I participate with EnergyCoin?
Can invest some BTC or NXT and what then?
How much to invest to make it for EnergyCoin a good deal?
DM me with clear instructions.
Thanks
@GEO_Jan
Title: Re: SuperNET IPO/Poloniex
Post by: Berry on August 31, 2014, 06:40:16 am


I am still trying to figure this out.

1. So Supernet collect 1k BTC or something.
With this BTC it is going to buy coins, bigger ones and smaller ones.
And with this coins it is what?  Just hold?
What happens if the coins rise or decrease? Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right?

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what?

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT?
Title: Re: SuperNET IPO/Poloniex
Post by: oldnbold on August 31, 2014, 07:13:32 am
nxt/btcd/bbr....and now supernet IPO


very excited about this. great news for cryptos!


place your BTCs strategically and i think you will come out quite wealthy in the upcoming months

As between NXT and BTCD anyone care to venture an opinion as to which will increase more in value, short/medium/long term?
Title: Re: SuperNET IPO/Poloniex
Post by: Sebastien256 on August 31, 2014, 07:16:49 am
it is moere easy to increased in value when the marketcap is lower. The more the marketcap is high, the difficulty in getting it higher get higher. These are kind of general fact.
Title: Re: SuperNET IPO/Poloniex
Post by: oldnbold on August 31, 2014, 07:24:49 am
it is moere easy to increased in value when the marketcap is lower. The more the marketcap is high, the difficulty in getting it higher get higher. These are kind of general fact.

Compared to what though? How do you know when a market cap is 'high'?
Title: Re: SuperNET IPO/Poloniex
Post by: Sebastien256 on August 31, 2014, 07:26:43 am
it is moere easy to increased in value when the marketcap is lower. The more the marketcap is high, the difficulty in getting it higher get higher. These are kind of general fact.

Compared to what though? How do you know when a market cap is 'high'?

when last month is was lower by 50% for example. Compare to past and future marketcap in general.

EDIT: when marketcap is 100 000 $ you only need 100 000 to make it 200 000 $, but to past from 1M$ to 2M$, you need 1M$, which is pretty much more difficult.
Title: Re: SuperNET IPO/Poloniex
Post by: oldnbold on August 31, 2014, 07:46:38 am
Understood - thanks  :)
Title: Re: Supernetwork IPO/Poloniex
Post by: whale on August 31, 2014, 12:24:18 pm
James, just to make it clear to me, you'll use most of these funds (which will probably be quite some thousands BTCs) to buy/regulate newly added coins, is that right?
Considering they will be new/low market cap coins, your actions would result in a huge price spike.

Well James will obviously not use the funds to pump up the price of those coins. He will probably buy in small portions to hold the price down before the announcement comes that this coin joins the supernetwork. So basically it's an IPO for a fund with inside information :)
A fundamental change in a coin that leads to its revaluation by the market is not a pump.
Supernetwork intends to obtain meaningful amounts of the coin's that join, whale will be doing the negotiating (if he can find the time).

So like the sharkfund had 10% of BBR, then BBR agrees to join Supernetwork and its price quadruples. Yes, this will happen, but it wont really help a fund with 10000 BTC to have quadrupled 10 BTC.

A lot of coins wont have 10% available (no whales) so the community would have to do a fund raiser to get 10% raised to be exchanged for BTC as a condition for acceptance. Any such exchange would be done at the trailing average price before the fund raising starts so any boost from the anticipation of being accepted wont skew the price and with acceptance contingent on raising the amount, there is some chance a community rejects this.

For those wondering, I'm Mobius on bitcointalk.
Title: Re: Supernetwork IPO/Poloniex
Post by: whale on August 31, 2014, 12:36:09 pm
[quote author=whale link=topic=4940.msg94374#msg94374 date=1409487858

For those wondering, I'm Mobius on bitcointalk.


Thats why we need a private forum for supernet team.

Agreed. Someone should set up an IRC. I forgot how edgy bitcointalk is (understandably) so I thought I should confirm here after the response I got. James forwards all promising coins onto me, so I'm the person to ask if you want consideration.
Title: Re: SuperNET IPO/Poloniex
Post by: humbot on August 31, 2014, 12:46:51 pm

Ask & Answer Questions at

http://supernet.answerbase.com
Can you please post and answer this as the website requires registration.
IPOs have a prospectus. Will a prospectus be issued to allow an informed investment decision to be made? Even a 1-2 pager would do given the amount of BTC hoped for and the complexity of the proposal.
Thanks
Title: Re: SuperNET IPO/Poloniex
Post by: AreYouCereal on August 31, 2014, 01:05:16 pm
classic first come first serve, correct?
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on August 31, 2014, 01:16:03 pm

***
Help James, help crypto, help superNET!

Ask & Answer Questions at

http://supernet.answerbase.com
***

Looking for trusted mods for it, contact me when you're interested.

Tweeted this. :)  Thanks for putting that together.  It helped me get a better understanding of the vision of the Super Network. :)
Title: Re: SuperNET IPO/Poloniex
Post by: Tosch110 on August 31, 2014, 05:11:16 pm
Hello,

I have already heard a lot about the supernetwork. I understand that different coins can join the supernetwork to gain more privacy and security for the own coin. I have heard several times this is all based on NXT (NxtInside) but what role is NXT playing in this whole network?

Thanks and sorry if that has been answered already
Title: Re: SuperNET IPO/Poloniex
Post by: Mexxer on August 31, 2014, 05:19:00 pm
Hello,

I have already heard a lot about the supernetwork. I understand that different coins can join the supernetwork to gain more privacy and security for the own coin. I have heard several times this is all based on NXT (NxtInside) but what role is NXT playing in this whole network?

Thanks and sorry if that has been answered already

As far as I understand BTCD is the core and fundament of the network. But Nxt is being used for a lot of key features and services as the primary 2.0 platform.
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on August 31, 2014, 05:31:49 pm
James, you should also consider requiring that any new coin added to the SuperNode Network have to also be traded on the MGW and use the MGW asset as part of your initial funding, just like the other assets you mentioned.

I think MGW should be pushed as the defacto exchange among all the SuperNode coins.
Title: Re: SuperNET IPO/Poloniex
Post by: Tosch110 on August 31, 2014, 05:36:22 pm
Hello,

I have already heard a lot about the supernetwork. I understand that different coins can join the supernetwork to gain more privacy and security for the own coin. I have heard several times this is all based on NXT (NxtInside) but what role is NXT playing in this whole network?

Thanks and sorry if that has been answered already

As far as I understand BTCD is the core and fundament of the network. But Nxt is being used for a lot of key features and services as the primary 2.0 platform.

Yep, thats what I heard, too. But what is "a lot of key features and services as the primary 2.0 platform."

I have seen james stating "all other coins can use NXT features and see why NXT is awesome and the future 2.0 platform"

As far as I know he is going to implement NXT features, such as the AE, Marketplace or whatever will come into the BTCD and other coins core aka "NxtInside". But which role does it play for the supernetwork?
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on August 31, 2014, 06:19:58 pm
Hello,

I have already heard a lot about the supernetwork. I understand that different coins can join the supernetwork to gain more privacy and security for the own coin. I have heard several times this is all based on NXT (NxtInside) but what role is NXT playing in this whole network?

Thanks and sorry if that has been answered already

As far as I understand BTCD is the core and fundament of the network. But Nxt is being used for a lot of key features and services as the primary 2.0 platform.

Yep, thats what I heard, too. But what is "a lot of key features and services as the primary 2.0 platform."

I have seen james stating "all other coins can use NXT features and see why NXT is awesome and the future 2.0 platform"

As far as I know he is going to implement NXT features, such as the AE, Marketplace or whatever will come into the BTCD and other coins core aka "NxtInside". But which role does it play for the supernetwork?

The most obvious boost to Nxt in all this, is that the Supernode asset will be on the asset exchange and has the potential to bring 1000s of crypto investors into the Asset Exchange which will force them to buy and trade in Nxt. 

One they are doing that, you can damn sure believe they will want to trade their coins on the InstantDex and/or MGW. So that has the potential to bring critical mass to those platforms as well.

I believe, if I understand James correctly, that he is trying to develop network effect. Every one of the coins on the Supernode network will also have Nxt wallet, asset exchange and other features inside their wallets ie like BTCD does.

Its a pretty ingenious plan by James in terms of potential cross support and cross promotion. What he is trying to do is create a scenario where coins and their devs and owners have a vested interest in getting aboard the Nxt platform(s) train.

We all know the more people using the Nxt Platforms, the more bullish for Nxt.

Title: Re: SuperNET IPO/Poloniex
Post by: farl4bit on August 31, 2014, 06:40:39 pm


I am still trying to figure this out.

1. So Supernet collect 1k BTC or something.
With this BTC it is going to buy coins, bigger ones and smaller ones.
And with this coins it is what?  Just hold?
What happens if the coins rise or decrease? Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right?

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what?

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT?

You have some good questions, hope James will notice your post.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 08:05:15 pm


I am still trying to figure this out.

1. So Supernet collect 1k BTC or something.
With this BTC it is going to buy coins, bigger ones and smaller ones.
And with this coins it is what?  Just hold?
What happens if the coins rise or decrease? Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right?

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what?

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT?

You have some good questions, hope James will notice your post.
https://bitcointalk.org/index.php?topic=762346.msg8614357#msg8614357
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 08:10:00 pm

Ask & Answer Questions at

http://supernet.answerbase.com
Can you please post and answer this as the website requires registration.
IPOs have a prospectus. Will a prospectus be issued to allow an informed investment decision to be made? Even a 1-2 pager would do given the amount of BTC hoped for and the complexity of the proposal.
Thanks
sorry no "prospectus" doing that will make it some sort of official financial regulated thing
The https://bitcointalk.org/index.php?topic=762346.0 is the description and any and all questions will be answered
If you are not comfortable with any part of SuperNET, or dont trust me to manage it properly, then please dont invest

James
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 08:11:30 pm
James, you should also consider requiring that any new coin added to the SuperNode Network have to also be traded on the MGW and use the MGW asset as part of your initial funding, just like the other assets you mentioned.

I think MGW should be pushed as the defacto exchange among all the SuperNode coins.
people tend to not like being forced to do something
I prefer to make it an option that is as easy to activate as possible
honey vs vinegar or something like that
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 08:12:43 pm
Hello,

I have already heard a lot about the supernetwork. I understand that different coins can join the supernetwork to gain more privacy and security for the own coin. I have heard several times this is all based on NXT (NxtInside) but what role is NXT playing in this whole network?

Thanks and sorry if that has been answered already

As far as I understand BTCD is the core and fundament of the network. But Nxt is being used for a lot of key features and services as the primary 2.0 platform.

Yep, thats what I heard, too. But what is "a lot of key features and services as the primary 2.0 platform."

I have seen james stating "all other coins can use NXT features and see why NXT is awesome and the future 2.0 platform"

As far as I know he is going to implement NXT features, such as the AE, Marketplace or whatever will come into the BTCD and other coins core aka "NxtInside". But which role does it play for the supernetwork?
you can just look at the source codes to see how NXT is used: https://github.com/jl777/libjl777
it is not a simple answer as there are many different things going on, sorry
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 08:13:49 pm
Hello,

I have already heard a lot about the supernetwork. I understand that different coins can join the supernetwork to gain more privacy and security for the own coin. I have heard several times this is all based on NXT (NxtInside) but what role is NXT playing in this whole network?

Thanks and sorry if that has been answered already

As far as I understand BTCD is the core and fundament of the network. But Nxt is being used for a lot of key features and services as the primary 2.0 platform.

Yep, thats what I heard, too. But what is "a lot of key features and services as the primary 2.0 platform."

I have seen james stating "all other coins can use NXT features and see why NXT is awesome and the future 2.0 platform"

As far as I know he is going to implement NXT features, such as the AE, Marketplace or whatever will come into the BTCD and other coins core aka "NxtInside". But which role does it play for the supernetwork?

The most obvious boost to Nxt in all this, is that the Supernode asset will be on the asset exchange and has the potential to bring 1000s of crypto investors into the Asset Exchange which will force them to buy and trade in Nxt. 

One they are doing that, you can damn sure believe they will want to trade their coins on the InstantDex and/or MGW. So that has the potential to bring critical mass to those platforms as well.

I believe, if I understand James correctly, that he is trying to develop network effect. Every one of the coins on the Supernode network will also have Nxt wallet, asset exchange and other features inside their wallets ie like BTCD does.

Its a pretty ingenious plan by James in terms of potential cross support and cross promotion. What he is trying to do is create a scenario where coins and their devs and owners have a vested interest in getting aboard the Nxt platform(s) train.

We all know the more people using the Nxt Platforms, the more bullish for Nxt.
It is much more powerful to show people something that to tell them about it
Title: Re: SuperNET IPO/Poloniex
Post by: Berry on August 31, 2014, 08:25:19 pm


I am still trying to figure this out.

1. So Supernet collect 1k BTC or something.
With this BTC it is going to buy coins, bigger ones and smaller ones.
And with this coins it is what?  Just hold?
What happens if the coins rise or decrease? Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right?

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what?

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT?

You have some good questions, hope James will notice your post.
https://bitcointalk.org/index.php?topic=762346.msg8614357#msg8614357

Doesn´t answer the questions. Maybe I am to stupid.
Title: Re: SuperNET IPO/Poloniex
Post by: allbits on August 31, 2014, 08:47:06 pm
I'm going to start a rumor.  The reason the Supernet IPO needs to be so big is that lots of LTC needs to be acquired before its rapid rise.  LTC will be putting NXT Inside, in order to add 2.0 features and stave off its demise.

disclaimer: I am inventing this rumor.  I've got no information about this.  I'm not even buying LTC myself.
Title: Re: SuperNET IPO/Poloniex
Post by: Sebastien256 on August 31, 2014, 08:50:30 pm
I'm going to start a rumor.  The reason the Supernet IPO needs to be so big is that lots of LTC needs to be acquired before its rapid rise.  LTC will be putting NXT Inside, in order to add 2.0 features and stave off its demise.

disclaimer: I am inventing this rumor.  I've got no information about this.  I'm not even buying LTC myself.

lol, make me laught.
Title: Re: SuperNET IPO/Poloniex
Post by: farl4bit on August 31, 2014, 08:54:41 pm


I am still trying to figure this out.

1. So Supernet collect 1k BTC or something.
With this BTC it is going to buy coins, bigger ones and smaller ones.
And with this coins it is what?  Just hold?
What happens if the coins rise or decrease? Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right?

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what?

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT?

You have some good questions, hope James will notice your post.
https://bitcointalk.org/index.php?topic=762346.msg8614357#msg8614357

Doesn´t answer the questions. Maybe I am to stupid.

Wouldn't say stupid, jl777-stuff can be a bit overwhelming. Ik would be nice if James can answer the points above. Thx.  :)
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on August 31, 2014, 09:21:23 pm
I'm going to start a rumor.  The reason the Supernet IPO needs to be so big is that lots of LTC needs to be acquired before its rapid rise.  LTC will be putting NXT Inside, in order to add 2.0 features and stave off its demise.

disclaimer: I am inventing this rumor.  I've got no information about this.  I'm not even buying LTC myself.

That would be genius on their part. :)
Title: Re: SuperNET IPO/Poloniex
Post by: pt7 on August 31, 2014, 09:35:41 pm
I'm going to start a rumor.  The reason the Supernet IPO needs to be so big is that lots of LTC needs to be acquired before its rapid rise.  LTC will be putting NXT Inside, in order to add 2.0 features and stave off its demise.

disclaimer: I am inventing this rumor.  I've got no information about this.  I'm not even buying LTC myself.

I will now dump all my NXT and BBR to buy LTC.
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on August 31, 2014, 09:37:35 pm
I'm going to start a rumor.  The reason the Supernet IPO needs to be so big is that lots of LTC needs to be acquired before its rapid rise.  LTC will be putting NXT Inside, in order to add 2.0 features and stave off its demise.

disclaimer: I am inventing this rumor.  I've got no information about this.  I'm not even buying LTC myself.

I will now dump all my NXT and BBR to buy LTC.

(http://i.imgur.com/wEMmB7k.gif)
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on August 31, 2014, 09:45:05 pm


I am still trying to figure this out.

1. So Supernet collect 1k BTC or something.
With this BTC it is going to buy coins, bigger ones and smaller ones.
And with this coins it is what?  Just hold?
What happens if the coins rise or decrease? Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right?

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what?

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT?

You have some good questions, hope James will notice your post.
https://bitcointalk.org/index.php?topic=762346.msg8614357#msg8614357

Doesn´t answer the questions. Maybe I am to stupid.

Wouldn't say stupid, jl777-stuff can be a bit overwhelming. Ik would be nice if James can answer the points above. Thx.  :)

Actually the answers to all or most of that was in the thread he linked to.

Ill give some of it a shot:


1. So Supernet collect 1k BTC or something. JL777 thinks the upper end will be 10k btc.
With this BTC it is going to buy coins, bigger ones and smaller ones.  Coins that will be added to supernode, pre announcement.
And with this coins it is what?  Just hold? HOLD.
What happens if the coins rise or decrease? Value of Supernet asset could be effected up or down. Dividends to Supernet asset would also be effected. Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right? Yes, in so far as alts are priced in btc currently for the most part.

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what? Profits of value rise of coin investments + fees from different JL777 assets that he is doing the initial funding with + node fees.

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it. BTCD is the hub of the testnet. It might get extra fees from other coins entering the Supernode.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT? Nxt would probably be added to wallet of each of Supernode coins. Nxt asset exchange is trading Supernode asset. MGW will probably trade each Supernode coin. Theoretical mass exposure for Nxt and potential critical mass of platform adoption from within crypto world.
Title: Re: SuperNET IPO/Poloniex
Post by: Tosch110 on August 31, 2014, 10:21:09 pm
Hello,

I have already heard a lot about the supernetwork. I understand that different coins can join the supernetwork to gain more privacy and security for the own coin. I have heard several times this is all based on NXT (NxtInside) but what role is NXT playing in this whole network?

Thanks and sorry if that has been answered already

As far as I understand BTCD is the core and fundament of the network. But Nxt is being used for a lot of key features and services as the primary 2.0 platform.

Yep, thats what I heard, too. But what is "a lot of key features and services as the primary 2.0 platform."

I have seen james stating "all other coins can use NXT features and see why NXT is awesome and the future 2.0 platform"

As far as I know he is going to implement NXT features, such as the AE, Marketplace or whatever will come into the BTCD and other coins core aka "NxtInside". But which role does it play for the supernetwork?
you can just look at the source codes to see how NXT is used: https://github.com/jl777/libjl777
it is not a simple answer as there are many different things going on, sorry

Thanks, I might do that in the next time.

Edit: but where to find anything about supernetwork?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 10:43:43 pm


I am still trying to figure this out.

1. So Supernet collect 1k BTC or something.
With this BTC it is going to buy coins, bigger ones and smaller ones.
And with this coins it is what?  Just hold?
What happens if the coins rise or decrease? Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right?

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what?

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT?

You have some good questions, hope James will notice your post.
https://bitcointalk.org/index.php?topic=762346.msg8614357#msg8614357

Doesn´t answer the questions. Maybe I am to stupid.

Wouldn't say stupid, jl777-stuff can be a bit overwhelming. Ik would be nice if James can answer the points above. Thx.  :)

Actually the answers to all or most of that was in the thread he linked to.

Ill give some of it a shot:


1. So Supernet collect 1k BTC or something. JL777 thinks the upper end will be 10k btc.
With this BTC it is going to buy coins, bigger ones and smaller ones.  Coins that will be added to supernode, pre announcement.
And with this coins it is what?  Just hold? HOLD.
What happens if the coins rise or decrease? Value of Supernet asset could be effected up or down. Dividends to Supernet asset would also be effected. Not much, Supernet has more or less BTC-value, but there is no connection to the asset price, right? Yes, in so far as alts are priced in btc currently for the most part.

2. Then we have an asset on NXT ae which is paying dividens. The divends come from collected fees from the other coins or devs to get listed or what? Profits of value rise of coin investments + fees from different JL777 assets that he is doing the initial funding with + node fees.

3. You said that the center of all is BTCD. Why? It is just one of the coins supported by Supernet, isn´t it. BTCD is the hub of the testnet. It might get extra fees from other coins entering the Supernode.

4. You said it is going to support NXT. How? Just by buying this 10% or is there a special role for NXT? Nxt would probably be added to wallet of each of Supernode coins. Nxt asset exchange is trading Supernode asset. MGW will probably trade each Supernode coin. Theoretical mass exposure for Nxt and potential critical mass of platform adoption from within crypto world.
Maybe this helps?

##
SuperNET is half similar to closed end fund, yes it is. Purchasers of the closed end fund are the ones that will benefit from the advantaged investments in the altcoins. So, if we can average 2x as we convert the BTC, then this is making a doubling of NAV. I certainly am not expecting 8x like BBR for all of the funds raised! The key to this value is the fact that it has no overhead that is draining it drop by drop. It is the BTC in escrowed cold storage, or the altcoins purchased at the pre-SuperNET price.

The other benefit is to support the UNITE cause. Even if you think the ROI is not so good as compared to possible 60x for some altcoins, maybe you feel crypto is better as united instead of divided. Then I ask for donation of 1 BTC, or whatever you feel is good for donation to this cause. Then if there is some positive ROI, it is the nice pillow chocolate to know you helped the cause and make some profits at the same time. The more is raised with SuperNET, the bigger message it sends about the will of crypto to UNITE. Then this makes easier to make bigger SuperNET, which gives BTC more power and then the giant sucking of fiat into crypto is unleashed so we can go to Taco Bell (or KFC) and not feel ashamed that BTC market cap is smaller than Yum Brands

The other half of SuperNET is the operating half. This operating half is composed of all the best crypto tech integrated into a single crossmarketed system where the monetization of each coin is displayed in a nice list to select from. Like the google adwords, the highest bids are going to the top, so the auction process discovers the price for the value of the crossmarketing to 100,000+ SuperNET users. Additionally, the services that I am creating, Teleport, InstantDEX, Tradebots (NXTcoinsco), Privatebet, these will have some small fees that are lower than the centralized vendors and so it is benefit to users to use them to save money on fees and get decentralized peer to peer functionings. These revenues are flowed through the corresponding assets and these assets will be in the very center of the SuperNET core and their dividends will flow out to all the SuperNET owners.

Combining the click auctioning revenues and the dividends from the core assets is just the yummy gravy to the SuperNET. Of course it will take some time before these revenues are making big impact. I dont even know how to estimate the average fees per SuperNET users, nor the eventual number of SuperNET users. So with R * N with both R (ave revenues) and N being unknown, let us set the value of this at a small number for now. In any case, the SuperNET founders will be paying a zero premium for whatever this R * N * T is. T is the lifetime future values, of course to be proper we need to discount the integral: (Sum over Time(R * N)) / D
What sort of D discount is to be used? Not sure. So I structure it as costing 0. I figure it will be hard for this to be an overestimate and when it comes to peoples money I want to make sure for positive result.
##

James
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 10:44:22 pm
Hello,

I have already heard a lot about the supernetwork. I understand that different coins can join the supernetwork to gain more privacy and security for the own coin. I have heard several times this is all based on NXT (NxtInside) but what role is NXT playing in this whole network?

Thanks and sorry if that has been answered already

As far as I understand BTCD is the core and fundament of the network. But Nxt is being used for a lot of key features and services as the primary 2.0 platform.

Yep, thats what I heard, too. But what is "a lot of key features and services as the primary 2.0 platform."

I have seen james stating "all other coins can use NXT features and see why NXT is awesome and the future 2.0 platform"

As far as I know he is going to implement NXT features, such as the AE, Marketplace or whatever will come into the BTCD and other coins core aka "NxtInside". But which role does it play for the supernetwork?
you can just look at the source codes to see how NXT is used: https://github.com/jl777/libjl777
it is not a simple answer as there are many different things going on, sorry

Thanks, I might do that in the next time.

Edit: but where to find anything about supernetwork?
noashh made a thesupernet.org site, I think that was URL, still catching up
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 10:47:32 pm
The question if how does SuperNET help NXT has not been clearly explained but windjc answer is very good start.

Now people were skeptical that I would be able to convince other coin devs to do NxtInside
Presented as an option and a gateway to SuperNET, I think I might have found a pretty effective way to do this "impossible" thing.

If you are still doubting the value of SuperNET to NXT, I hope some others who understand will help. I am not having the time to keep repeating myself. I will now ignore answering questions that have already been asked and answered.
Any new question, of course I will answer.

Thank you for understanding that I only have 28 hours in a day

James
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on August 31, 2014, 10:56:34 pm
The question if how does SuperNET help NXT has not been clearly explained but windjc answer is very good start.

Now people were skeptical that I would be able to convince other coin devs to do NxtInside
Presented as an option and a gateway to SuperNET, I think I might have found a pretty effective way to do this "impossible" thing.

If you are still doubting the value of SuperNET to NXT, I hope some others who understand will help. I am not having the time to keep repeating myself. I will now ignore answering questions that have already been asked and answered.
Any new question, of course I will answer.

Thank you for understanding that I only have 28 hours in a day

James

James if you only slept 2 hours a day, you could get a full 30 hours of work in. Maybe look into it?
Title: Re: SuperNET IPO/Poloniex
Post by: Tosch110 on August 31, 2014, 11:13:56 pm
The question if how does SuperNET help NXT has not been clearly explained but windjc answer is very good start.

Now people were skeptical that I would be able to convince other coin devs to do NxtInside
Presented as an option and a gateway to SuperNET, I think I might have found a pretty effective way to do this "impossible" thing.

If you are still doubting the value of SuperNET to NXT, I hope some others who understand will help. I am not having the time to keep repeating myself. I will now ignore answering questions that have already been asked and answered.
Any new question, of course I will answer.

Thank you for understanding that I only have 28 hours in a day

James

Thanks so far. I was not questioning the whole concept but just wanted to know some more details about it. Still supporting you with your great work. As its overwhelming from the outside what you are building here, I can just say: Keep up the awesome work ;)
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 11:17:05 pm
The question if how does SuperNET help NXT has not been clearly explained but windjc answer is very good start.

Now people were skeptical that I would be able to convince other coin devs to do NxtInside
Presented as an option and a gateway to SuperNET, I think I might have found a pretty effective way to do this "impossible" thing.

If you are still doubting the value of SuperNET to NXT, I hope some others who understand will help. I am not having the time to keep repeating myself. I will now ignore answering questions that have already been asked and answered.
Any new question, of course I will answer.

Thank you for understanding that I only have 28 hours in a day

James

James if you only slept 2 hours a day, you could get a full 30 hours of work in. Maybe look into it?
(28 - 2) = 26
Also anything less than 4 hrs of recharge and I get cranky
I did stay up once for 100+ hrs, but after a while it is just painful and the easiest things become difficult
it is best to find a rhythm and stick to it. For me it is 28 hr cycle
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 11:22:19 pm
The question if how does SuperNET help NXT has not been clearly explained but windjc answer is very good start.

Now people were skeptical that I would be able to convince other coin devs to do NxtInside
Presented as an option and a gateway to SuperNET, I think I might have found a pretty effective way to do this "impossible" thing.

If you are still doubting the value of SuperNET to NXT, I hope some others who understand will help. I am not having the time to keep repeating myself. I will now ignore answering questions that have already been asked and answered.
Any new question, of course I will answer.

Thank you for understanding that I only have 28 hours in a day

James

Thanks so far. I was not questioning the whole concept but just wanted to know some more details about it. Still supporting you with your great work. As its overwhelming from the outside what you are building here, I can just say: Keep up the awesome work ;)
This is not about you!

It is funny how many people feel that I am obligated to all this extra work because they are not having the time to read what is already been written. I think that shows a little bit of disrespect toward me, but I can understand that everybody is busy and I try to answer respectfully. noashh is making nice site to organize everything and I am hoping for peoples to help "translate" my writings into understandable form. I view this as GUI and I am not so good at them, so best to let others do this work. I have quite enough to work on as it is.

Just when lack of sleep makes me cranky, my mean side comes out a bit. I try to save up all this to vaporizing the trolls that are brave enough to trying to FUD in my thread. Unfortunately some trolls are not warned ahead of time they might need to make a new handle after they are made to look intellectually challenged. I do not want to be like this and I have been advised to seek professional help to deal with my anger issues.

I think soon the trolls will be avoiding my threads, at least I hope so.

James
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on August 31, 2014, 11:57:21 pm
If any big InstantDEX whales are willing to swap for SuperNET, PM me. I am out of balance on that and it will be on same terms I get

James
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on September 01, 2014, 12:20:28 am
If any big InstantDEX whales are willing to swap for SuperNET, PM me. I am out of balance on that and it will be on same terms I get

James

what sort of volume do you need? I've got .2% Not a whale, but going in on SuNet.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 12:34:21 am
If any big InstantDEX whales are willing to swap for SuperNET, PM me. I am out of balance on that and it will be on same terms I get

James

what sort of volume do you need? I've got .2% Not a whale, but going in on SuNet.
It depends on the demand for SuperNET. I outlined a simple algo that uses up the assets I have as the amount raised grows, since I am at 7% on InstantDEX, it is way out of balance from the rest.

If anybody can post their interest to swap and amount, then maybe you can keep track. The combination of small amounts could just as easily add up to a whale's amount

James
Title: Re: SuperNET IPO/Poloniex
Post by: damon on September 01, 2014, 12:35:55 am
James - that's weak man - you can only fit 28 hours into a day - I hear real programmers can fit twice that :)..

In all seriousness - your a superstar..
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on September 01, 2014, 12:37:07 am
If any big InstantDEX whales are willing to swap for SuperNET, PM me. I am out of balance on that and it will be on same terms I get

James

what sort of volume do you need? I've got .2% Not a whale, but going in on SuNet.
It depends on the demand for SuperNET. I outlined a simple algo that uses up the assets I have as the amount raised grows, since I am at 7% on InstantDEX, it is way out of balance from the rest.

If anybody can post their interest to swap and amount, then maybe you can keep track. The combination of small amounts could just as easily add up to a whale's amount

James

I can do that. I've got 2k, if anyone else wants to put in for James rates on SuperNet and has some InstantDex to trade, please let me know, I'll make a spread sheet.
We can all pool together and negotiate with James for a fair price.

;)
Title: Re: SuperNET IPO/Poloniex
Post by: Djinou94 on September 01, 2014, 12:49:32 am
When the IPO start please?
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 01, 2014, 01:04:48 am
I can do that. I've got 2k, if anyone else wants to put in for James rates on SuperNet and has some InstantDex to trade, please let me know, I'll make a spread sheet.
We can all pool together and negotiate with James for a fair price.

;)

I'm in for 170.
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on September 01, 2014, 01:07:13 am
I can do that. I've got 2k, if anyone else wants to put in for James rates on SuperNet and has some InstantDex to trade, please let me know, I'll make a spread sheet.
We can all pool together and negotiate with James for a fair price.

;)

I'm in for 170.

Cool i guess in the future people can PM me and i'll this organized. Of course this no obligation until its time to trade.

Jefdiesel 2000
Cobaltskky 170

total 2170
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 01:10:12 am
If any big InstantDEX whales are willing to swap for SuperNET, PM me. I am out of balance on that and it will be on same terms I get

James

what sort of volume do you need? I've got .2% Not a whale, but going in on SuNet.
It depends on the demand for SuperNET. I outlined a simple algo that uses up the assets I have as the amount raised grows, since I am at 7% on InstantDEX, it is way out of balance from the rest.

If anybody can post their interest to swap and amount, then maybe you can keep track. The combination of small amounts could just as easily add up to a whale's amount

James

I can do that. I've got 2k, if anyone else wants to put in for James rates on SuperNet and has some InstantDex to trade, please let me know, I'll make a spread sheet.
We can all pool together and negotiate with James for a fair price.

;)
The price will be the market price the day the IPO closes. Also no early bird or NXT based bonus cuz its an asset
Will be the same price I get, and I am not doing anything to maximize it, so you could get a better deal by the selling and getting the early bird bonus
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on September 01, 2014, 01:16:15 am
Ok thanks for clearing that up. Maybe I'll ride the trends and take that 20%
Title: Re: SuperNET IPO/Poloniex
Post by: damon on September 01, 2014, 02:17:09 am
500 from me

Jefdiesel 2000
Cobaltskky 170

total 2670
Title: Re: SuperNET IPO/Poloniex
Post by: youyou on September 01, 2014, 06:33:49 am
500 from me

Jefdiesel 2000
Cobaltskky 170

total 2670

500 what?
Title: Re: SuperNET IPO/Poloniex
Post by: whale on September 01, 2014, 07:29:46 am
500 from me

Jefdiesel 2000
Cobaltskky 170

total 2670

500 what?

BTC
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 01, 2014, 07:46:22 am
500 from me

Jefdiesel 2000
Cobaltskky 170

total 2670

500 what?

Dancing cheetahs.
Title: Re: SuperNET IPO/Poloniex
Post by: youyou on September 01, 2014, 08:23:10 am
500 from me

Jefdiesel 2000
Cobaltskky 170

total 2670


500 what?

Dancing cheetahs.

thought it was 500 leeks: my kitchen garden being full of them, i could add a good bunch. unfortunatelly i don't have any cheetah available.
Title: Re: SuperNET IPO/Poloniex
Post by: whale on September 01, 2014, 12:09:06 pm
500 from me

Jefdiesel 2000
Cobaltskky 170

total 2670

500 what?

Dancing cheetahs.

 :D
Title: Re: SuperNET IPO/Poloniex
Post by: superresistant on September 01, 2014, 01:26:06 pm

What are the coins used for this IPO and their bonus ?

What coin would you use ?
Title: Re: SuperNET IPO/Poloniex
Post by: Nexxie on September 01, 2014, 02:09:36 pm
When is the IPO on Poloniex actually starting?
Looking forward to it!  8)
Title: Re: SuperNET IPO/Poloniex
Post by: prometheus on September 01, 2014, 02:38:12 pm
When is the IPO on Poloniex actually starting?
Looking forward to it!  8)

word is possibly next week
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 07:33:16 pm
When is the IPO on Poloniex actually starting?
Looking forward to it!  8)

word is possibly next week
That would be sometime before this Friday

I also made sure that all NXT used for SuperNET will be forging and that it will be donated to the community
Now we just have to decide which acct to send the SuperNET forging too :)
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 01, 2014, 08:13:58 pm
Marketing?
Title: Re: SuperNET IPO/Poloniex
Post by: theironman on September 01, 2014, 08:18:00 pm
When is the IPO on Poloniex actually starting?
Looking forward to it!  8)

word is possibly next week
That would be sometime before this Friday

I also made sure that all NXT used for SuperNET will be forging and that it will be donated to the community
Now we just have to decide which acct to send the SuperNET forging too :)

Well planned James! :D

Edit: This is going to be a really good week
Title: Re: SuperNET IPO/Poloniex
Post by: prometheus on September 01, 2014, 09:35:07 pm
When is the IPO on Poloniex actually starting?
Looking forward to it!  8)

word is possibly next week
That would be sometime before this Friday

I also made sure that all NXT used for SuperNET will be forging and that it will be donated to the community
Now we just have to decide which acct to send the SuperNET forging too :)

Well planned James! :D

Edit: This is going to be a really good week

yes...the supernet offering introduces the concept of "assets" to a wider audience. if people profit from this, well obviously interest in assets and asset exchanges will rise. very good for NXT AE users
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 09:43:02 pm
Marketing?
I dont do GUI
I just make uncapped IPO that is antidilutive and gathers power the more is invested. With a likely ROI profile range of -10% to 300% upon trading, I have allowed IPO investors to likely get the vast majority of the value of SuperNET. The reason is that I want as many people to make as much money as possible in crypto to create a fiat brain drain.

fiat world gives zerosum dog eat dog regulated, litigated, taxed big headache of money making
crypto world will give positive sum cooperative community based ways to create value and money. We have seen this, where crypto peoples just give free money to others and entire ecosystem is made. To my knowledge, this only happens in "primitive" societies where the fiat system hasnt squeezed out all the humanity from the people

Things didnt used to be the way it is in the fiat world. I am not old enough to directly remember those days in the "civilized" world, but there are places in the world even today that this spirit of human cooperation is alive and well. Unfortunately they dont usually have much tech and the wifi signal is very bad in the Amazon jungle!

This is why crypto is attractive to a lot of us, it taps into a primal memory of a cooperative society. A society where you can trust someones word without a hundred page document detailing all the things you can and cant do and what happens if you are naughty. Now, there will be those that try to (unfortunately some will succeed) in bringing this fiat mentality into crypto, but by uniting together we can minimize the impact people like this have by BANISHMENT. This is the ultimate punishment in the "primitive" cultures.

So, I make this SuperNET possible and even getting it funded with some decent amount of capital. But if you want to really make a difference, do the GUI thing and get as much as possible into the SuperNET IPO. Unlike other IPO's more money wont dilute what you get, it gives it more power.

If the communities can properly communicate with the whales for big investments and 1BTC equiv from the masses, SuperNET will debut on coinmarketcap at #2. It is essentially BTC++ and BTC people have no worries from SuperNET as competition as SuperNET is not any coin at all, it is a place to deposit BTC and watch the dividends come in.

James

P.S. Personally, I am not so proud that BTC marketcap isnt even on Fortune 500. This is something we need to change with UNITE, the symbol for SuperNET
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 01, 2014, 09:48:11 pm

P.S. Personally, I am not so proud that BTC marketcap isnt even on Fortune 500. This is something we need to change with UNITE, the symbol for SuperNET

Hmm UNITE is a union in the UK and not a nice one - please can we UNITE under something else?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 09:50:10 pm
When is the IPO on Poloniex actually starting?
Looking forward to it!  8)

word is possibly next week
That would be sometime before this Friday

I also made sure that all NXT used for SuperNET will be forging and that it will be donated to the community
Now we just have to decide which acct to send the SuperNET forging too :)

Well planned James! :D

Edit: This is going to be a really good week

yes...the supernet offering introduces the concept of "assets" to a wider audience. if people profit from this, well obviously interest in assets and asset exchanges will rise. very good for NXT AE users
I am quite pleased with SuperNET design. The second largest crypto IPO ever and it is for a NXT asset will force people to understand the power of NXT directly. Money talks. Even without the reliance of SuperNET core assets like InstantDEX, NXTprivacy, Tradebots, Privatebet,... NXT will get a lot of new believers. Once they further realize that NXT is enabling all this decentralized "magic", more and more SuperNET users will choose to "enter SuperNET" and start using NXT.

If I had consciously tried to design an offering that simultaneously benefited NXT, BTCD, BTC and crypto in general, while being uncapped and antidilutive, I would have not thought it possible. It was just one of those FLASH moments like the Teleport

James

P.S. I am hearing that my assets that are not already listed on exchanges could get listed sometime soon due to the SuperNET effect
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 09:50:41 pm

P.S. Personally, I am not so proud that BTC marketcap isnt even on Fortune 500. This is something we need to change with UNITE, the symbol for SuperNET

Hmm UNITE is a union in the UK and not a nice one - please can we UNITE under something else?
UNITY?

need 5 letters that conveys the concept
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 01, 2014, 09:57:58 pm

P.S. Personally, I am not so proud that BTC marketcap isnt even on Fortune 500. This is something we need to change with UNITE, the symbol for SuperNET

Hmm UNITE is a union in the UK and not a nice one - please can we UNITE under something else?
UNITY?

need 5 letters that conveys the concept

I like Unity. :)  It connotates a unity behind the people of the cryptocommunities, rather than just the unity behind the technology, or another term that focuses strictly on the technology. It describes the Super Network not as a mere technological force, but a social force.  A decision.  To unite together and form a unity of purpose: bring crypto to the masses.

When I said marketing, I wasn't making a suggestion on what you should do - I meant, maybe the funds from the forging should go to the marketing fund?  NXT has the tech, but it seems like we're down on the mindshare compared to other cryptos.
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 01, 2014, 10:10:21 pm

P.S. Personally, I am not so proud that BTC marketcap isnt even on Fortune 500. This is something we need to change with UNITE, the symbol for SuperNET

Hmm UNITE is a union in the UK and not a nice one - please can we UNITE under something else?
UNITY?

need 5 letters that conveys the concept

nexus
1. a connection or series of connections linking two or more things.

2. a central or focal point.
Title: Re: SuperNET IPO/Poloniex
Post by: damon on September 01, 2014, 10:13:58 pm
Peace..

 Unity has a peaceful effect and withdrawing from the Central banking fiat world has a peaceful effect.  Cooperation among coins vs competition has a peaceful effect.
Title: Re: SuperNET IPO/Poloniex
Post by: swartzfeger on September 01, 2014, 10:29:50 pm
nexus


Also has a nice Nxt connotation.
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 01, 2014, 10:30:03 pm
u·ni·ty
ˈyo͞onətē/Submit
noun
1.
the state of being united or joined as a whole.
Title: Re: SuperNET IPO/Poloniex
Post by: VanBreuk on September 01, 2014, 10:40:31 pm
I like nexus, unity coming second.

But if we're talking cooperative culture and self sufficiency, anthropology also suggests tribe (where James would be the Big Man figure) :)



Title: Re: SuperNET IPO/Poloniex
Post by: DrearyUrbanite on September 01, 2014, 10:55:02 pm
Nexus? As in Star Trek Generations (7)? Everything is possible in the Nexus. I like it  :)
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 01, 2014, 11:01:35 pm
I like nexus, unity coming second.

But if we're talking cooperative culture and self sufficiency, anthropology also suggests tribe (where James would be the Big Man figure) :)

Bah - I, for one, am not a fan of patriarchy, or any hierarchy. ;)
Title: Re: SuperNET IPO/Poloniex
Post by: VanBreuk on September 01, 2014, 11:11:14 pm
I like nexus, unity coming second.

But if we're talking cooperative culture and self sufficiency, anthropology also suggests tribe (where James would be the Big Man figure) :)

Bah - I, for one, am not a fan of patriarchy, or any hierarchy. ;)

Me neither. In that context, a Big Man is a particularly influential man in a tribe. That does not involve any privileges.

I did not intend to raise James to some position of leadership either (although denying his initiative and champion status in the starfish model would be absurd).

Quote
A Big Man's position is never secured in an inherited position at the top of a hierarchy, but is always challenged by the different big-men who compete with one another in an on-going process of reciprocity and re-distribution of material and political resources. As such the Big Man is subject to a transactional order based on his ability to balance the simultaneously opposing pulls of securing his own renown through distributing resources to other Big Man groups and redistributing resources to the people of his own faction.

The Big Man concept is relatively fluid, and formal authority of such figures is very low to nonexistent.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 11:16:12 pm

P.S. Personally, I am not so proud that BTC marketcap isnt even on Fortune 500. This is something we need to change with UNITE, the symbol for SuperNET

Hmm UNITE is a union in the UK and not a nice one - please can we UNITE under something else?
UNITY?

need 5 letters that conveys the concept

I like Unity. :)  It connotates a unity behind the people of the cryptocommunities, rather than just the unity behind the technology, or another term that focuses strictly on the technology. It describes the Super Network not as a mere technological force, but a social force.  A decision.  To unite together and form a unity of purpose: bring crypto to the masses.

When I said marketing, I wasn't making a suggestion on what you should do - I meant, maybe the funds from the forging should go to the marketing fund?  NXT has the tech, but it seems like we're down on the mindshare compared to other cryptos.
I think I fixed the mindshare by making largest crypto IPO ever to be one that uses a NXT asset and is also using NxtInside
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 11:17:23 pm

P.S. Personally, I am not so proud that BTC marketcap isnt even on Fortune 500. This is something we need to change with UNITE, the symbol for SuperNET

Hmm UNITE is a union in the UK and not a nice one - please can we UNITE under something else?
UNITY?

need 5 letters that conveys the concept

nexus
1. a connection or series of connections linking two or more things.

2. a central or focal point.
most people wont know what nexus means
needs to be 5 letter word from the most commonly used words so people who have English as second language still understand
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 11:18:55 pm
I like nexus, unity coming second.

But if we're talking cooperative culture and self sufficiency, anthropology also suggests tribe (where James would be the Big Man figure) :)
um, no thanks
I am trying to make myself as obsolete as possible as soon as possible!
no myth worship or anything
just a high tech version of community, no need for anybody trying to best me in battle! I step aside as soon as one more worthy arrives.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 11:19:41 pm
Did I mention bter will be listing BTCD soon?
Title: Re: SuperNET IPO/Poloniex
Post by: prometheus on September 01, 2014, 11:21:25 pm
Did I mention bter will be listing BTCD soon?

so BTCD will be open for chinese traders? not sure how/if they can currently exchange BTCD
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 11:23:19 pm
Did I mention bter will be listing BTCD soon?

so china market opens up to BTCD?
I am not allowed to say anything more than that at this point
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 01, 2014, 11:23:40 pm
I think I fixed the mindshare by making largest crypto IPO ever to be one that uses a NXT asset and is also using NxtInside

Certainly, for the near term. ;)
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 11:24:36 pm
I think I fixed the mindshare by making largest crypto IPO ever to be one that uses a NXT asset and is also using NxtInside

Certainly, for the near term. ;)
with #2 spot on coinmarketcap SuperNET should provide a constant reminder
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 01, 2014, 11:30:57 pm
wont know what nexus means
needs to be 5 letter word from the most commonly used words so people who have English as second language still understand

nexus is an international word now, its used as a brand by many tech firms... whether it translates or is understood I don't know...
but it is not an unfamiliar word.

nexus is also a 'noun', 'unite' is a verb... the noun form is 'unity' - depends on whether you want to refer to an action or a thing.
Title: Re: SuperNET IPO/Poloniex
Post by: Tosch110 on September 01, 2014, 11:31:50 pm
I think I fixed the mindshare by making largest crypto IPO ever to be one that uses a NXT asset and is also using NxtInside

Certainly, for the near term. ;)
with #2 spot on coinmarketcap SuperNET should provide a constant reminder

Wow. you are awaiting a rush on superNET IPO. Would you recommend a dolphin to invest? ;)
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 11:40:51 pm
I think I fixed the mindshare by making largest crypto IPO ever to be one that uses a NXT asset and is also using NxtInside

Certainly, for the near term. ;)
with #2 spot on coinmarketcap SuperNET should provide a constant reminder

Wow. you are awaiting a rush on superNET IPO. Would you recommend a dolphin to invest? ;)
if you can get something at around book value and it has some chance of going up in price and also future dividends, why would it matter how big?
This is uncapped but antidilutive
that means unlike other offerings its not like there is a fixed number of "air" or coins you are buying, think of it like sharkfund0 that is making dividends

The reason I expect so much is that this is the least risky crypto investment I know of as it is 99% backed by crypto, mostly BTC but some percentage of BTCD and NXT. It also has good chances for making "jl777 effect" like it did with BBR, so an investment fund you can buy around book value, with 99% of funds in escrow. I only get access to 1% for incidental expenses.

Then the more money comes in, the more money is there to construct a bigger SuperNET. This "construction" is buy purchasing chunks of a coin at pre-SuperNET effect prices, so the more money, the more coins, the more users in SuperNET.

The more users, the more commissions for InstantDEX, the more Teleports for NXTprivacy, the more gambling via Privatebet, the more withdraws via anon card, etc. Now if just my assets are the revenue generators, I think still very good potential, but with each coin required to have a unique and valuable tech benefit and other services being added, then there is more and more services, which brings in more and more users.

this is positive feedback loop enhanced network effect jumpstarted with bookvalue purchased capital. So, I am expecting some premium to be added when it starts trading.

Nothing is guaranteed of course, but I am making a spring that is compressed down to the book value, actually a bit less for early birds a bit more for the late buyers.

I probably could have easily sold this at 2x book value, but I want people to make money, lots of money. I will also be buying a lot at IPO

James

P.S. SuperNET will benefit all of crypto by boosting BTC value due to the likely attracting fiat investments, working on making that easy for peoples
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 01, 2014, 11:45:01 pm
wont know what nexus means
needs to be 5 letter word from the most commonly used words so people who have English as second language still understand

nexus is an international word now, its used as a brand by many tech firms... whether it translates or is understood I don't know...
but it is not an unfamiliar word.

nexus is also a 'noun', 'unite' is a verb... the noun form is 'unity' - depends on whether you want to refer to an action or a thing.
verb nouns not sure it matters so much, but preference to verb to denote the action
just how negative is UNITE in UK?
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 02, 2014, 12:09:02 am
wont know what nexus means
needs to be 5 letter word from the most commonly used words so people who have English as second language still understand

nexus is an international word now, its used as a brand by many tech firms... whether it translates or is understood I don't know...
but it is not an unfamiliar word.

nexus is also a 'noun', 'unite' is a verb... the noun form is 'unity' - depends on whether you want to refer to an action or a thing.
verb nouns not sure it matters so much, but preference to verb to denote the action
just how negative is UNITE in UK?

UNITE, UNION and UNISON are all related to the trades union movement in the UK for public service workers so a level of anti-business and antigovernment connotation...

VERB / NOUN is important if you plan to use it in a sensible way in English sentences for English speakers...
On the one hand you want something non-English speakers can translate into their own language easily but also you don't want it to sound odd to english speakers.

Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 02, 2014, 12:17:14 am
Coming from an English speaker, Unite sounds odd when applied to a thing, rather than an action.
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 02, 2014, 12:24:11 am
Coming from an English speaker, Unite sounds odd when applied to a thing, rather than an action.
So examples

We will unite all the crypto currencies (verb or action)
We will achieve unity with other coins (noun, action is join)
We will unify all the crypto currencies.

Unity is a state
Unite is the action to achieve it.
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 02, 2014, 12:25:28 am
wont know what nexus means
needs to be 5 letter word from the most commonly used words so people who have English as second language still understand

nexus is an international word now, its used as a brand by many tech firms... whether it translates or is understood I don't know...
but it is not an unfamiliar word.

nexus is also a 'noun', 'unite' is a verb... the noun form is 'unity' - depends on whether you want to refer to an action or a thing.
verb nouns not sure it matters so much, but preference to verb to denote the action
just how negative is UNITE in UK?

Unity is a great name. Unite is great too. I dont think you can not choose a name because of some controversy in 1 specific country anyway.
Title: Re: SuperNET IPO/Poloniex
Post by: prometheus on September 02, 2014, 12:25:43 am
in the US, small groups of people come together to privately purchase shares in a farmer's products (eggs, veggies, milk, ect..). we call this a co-op (cooperation)

not sure how this translates into other languages though
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 12:29:59 am
I will be going offline for a while
need to beef up security
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 02, 2014, 12:30:32 am
Here's the words UNITE and UNITY in pictures:

UNITE: https://www.google.com/search?q=unite&source=lnms&tbm=isch&sa=X&ei=vQ4FVPm2L5DGggTh-IKQBA&ved=0CAYQ_AUoAQ&biw=1542&bih=868

I see a lot of powerfists.  It has aggressive connotations.  "We will unite to stand against X."

UNITY: https://www.google.com/search?q=unite&source=lnms&tbm=isch&sa=X&ei=vQ4FVPm2L5DGggTh-IKQBA&ved=0CAYQ_AUoAQ&biw=1542&bih=868#q=unity&tbm=isch

I see a bunch of diverse people holding hands together.  It's calm, peaceful.  "We have achieved unity: the struggle is over."

Guess it depends on what you want to convey.  "A call to arms"  or "Prosperity in partnership."

Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 02, 2014, 12:42:55 am
Here's the words UNITE and UNITY in pictures:

UNITE: https://www.google.com/search?q=unite&source=lnms&tbm=isch&sa=X&ei=vQ4FVPm2L5DGggTh-IKQBA&ved=0CAYQ_AUoAQ&biw=1542&bih=868

I see a lot of powerfists.  It has aggressive connotations.  "We will unite to stand against X."

UNITY: https://www.google.com/search?q=unite&source=lnms&tbm=isch&sa=X&ei=vQ4FVPm2L5DGggTh-IKQBA&ved=0CAYQ_AUoAQ&biw=1542&bih=868#q=unity&tbm=isch

I see a bunch of diverse people holding hands together.  It's calm, peaceful.  "We have achieved unity: the struggle is over."

Guess it depends on what you want to convey.  "A call to arms"  or "Prosperity in partnership."

+1056
Title: Re: SuperNET IPO/Poloniex
Post by: sparta_cuss on September 02, 2014, 12:57:04 am
I will be going offline for a while
need to beef up security

You going to be doing some push-ups?
Title: Re: SuperNET IPO/Poloniex
Post by: allwelder on September 02, 2014, 03:23:15 am
JL777 effect will make this superNET IPO biggest in crypto world 8),surpass ETH?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 04:45:08 am
I will be going offline for a while
need to beef up security

You going to be doing some push-ups?
done.
overstayed my welcome at my friends place
Title: Re: SuperNET IPO/Poloniex
Post by: xyzzyx on September 02, 2014, 05:07:56 am
I like nexus, unity coming second.

But if we're talking cooperative culture and self sufficiency, anthropology also suggests tribe (where James would be the Big Man figure) :)

Bah - I, for one, am not a fan of patriarchy, or any hierarchy. ;)

Phyle?
Title: Re: SuperNET IPO/Poloniex
Post by: LocoMB on September 02, 2014, 06:23:42 am
How about a sticky Announcement thread or child board that people can watch in order not to miss anything,
like the start date and specifics on how to join?

OK, so there is
http://thesupernet.org/ (http://thesupernet.org/)
where it is possible to sign up for a newsletter
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 02, 2014, 06:59:58 am
If this IPO were to raise, lets say, $5k btc for example - as an exchange trading vehicle it would wield an incredible amount of purchasing power in the alt coin world.

So much so that it couldn't really get in and out of coins with anything more than a small fraction of its buying power. Meaning that the profits from those trades would probably be deeply diluted through all the asset stakeholders and as a % profit return on the entire fund. A large mutual fund has the potential to invest all its holdings into liquid markets. This would be a large fund (relatively speaking) investing in completely illiquid markets.

So, to what degree is this a concern? If at all?
Title: Re: SuperNET IPO/Poloniex
Post by: tersagun on September 02, 2014, 07:14:44 am

I also made sure that all NXT used for SuperNET will be forging and that it will be donated to the community
Now we just have to decide which acct to send the SuperNET forging too :)

Now that is extraordinary. At least several millions of NXT will be used for the IPO and you're just gonna donate it to the community?!
Title: Re: SuperNET IPO/Poloniex
Post by: Mexxer on September 02, 2014, 07:19:02 am

I also made sure that all NXT used for SuperNET will be forging and that it will be donated to the community
Now we just have to decide which acct to send the SuperNET forging too :)

Now that is extraordinary. At least several millions of NXT will be used for the IPO and you're just gonna donate it to the community?!

No, the millions of Nxt will be used for forging and those forged fees will be donated.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 07:20:09 am
If this IPO were to raise, lets say, $5k btc for example - as an exchange trading vehicle it would wield an incredible amount of purchasing power in the alt coin world.

So much so that it couldn't really get in and out of coins with anything more than a small fraction of its buying power. Meaning that the profits from those trades would probably be deeply diluted through all the asset stakeholders and as a % profit return on the entire fund. A large mutual fund has the potential to invest all its holdings into liquid markets. This would be a large fund (relatively speaking) investing in completely illiquid markets.

So, to what degree is this a concern? If at all?
The investments will be long term HODL
Since long term the SuperNET userbase grows and this increases the value of each coin in the SuperNET core. revenue sharing will be going into the coin community which will allow funding for continued improvements, so over time all the CORE coins should keep doing well

the getting in part is what whale is helping me negotiate. Usually there are some large holders who will sell some of their holdings at the then current price. So, the gains from the funds will be diluted if astronomical amounts come in, but in the long run I am optimistic about the dividend potential

In any case, the most important thing is that the capital base is protected
when sharkfund0 ended up with ~1500 BTC to start with, many were skeptical I could even have it keep up with NXT, let alone get any meaningful gains due to the size of it.

I seemed to have gotten lucky

James
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 07:22:05 am

I also made sure that all NXT used for SuperNET will be forging and that it will be donated to the community
Now we just have to decide which acct to send the SuperNET forging too :)

Now that is extraordinary. At least several millions of NXT will be used for the IPO and you're just gonna donate it to the community?!

No, the millions of Nxt will be used for forging and those forged fees will be donated.
correct
or maybe we can just lease the forging power
Title: Re: SuperNET IPO/Poloniex
Post by: tersagun on September 02, 2014, 07:25:30 am

I also made sure that all NXT used for SuperNET will be forging and that it will be donated to the community
Now we just have to decide which acct to send the SuperNET forging too :)

Now that is extraordinary. At least several millions of NXT will be used for the IPO and you're just gonna donate it to the community?!

No, the millions of Nxt will be used for forging and those forged fees will be donated.

Now that made sense :-)
I forgot the "leasing" feature. That's why it did not made sense to me that he's asking which account to let the forging.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 08:21:52 am
https://bitcoinwisdom.com/markets/bittrex/btcdbtc

https://bter.com/trade/BTCD_BTC
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on September 02, 2014, 12:20:20 pm
https://bitcoinwisdom.com/markets/bittrex/btcdbtc

https://bter.com/trade/BTCD_BTC

nothing much on the bter BTCD yet.. but to the dark side of the moon!
Title: Re: SuperNET IPO/Poloniex
Post by: devphp on September 02, 2014, 04:05:40 pm
Hey,

please consider Dogecoin to be added to SuperNET.

I know James you think its hashrate is going down and it will die, but let me list a few pros based on the idea that SuperNET should utilize the power of Scrypt ASICs network.

1) Dogecoin has a strong developer Langer_hans, who is very active and recently released version 1.8 which supports auxPoW, which means other scrypt coins are starting to add to the hashrate of Doge.

2) Doge has bottomed and not going any lower (lowest was 20 satoshi), it takes only a few bitcoins to keep it afloat above that level, while Litecoin still has a lot of downside.

3) Doge community is large and second to Bitcoin only, and the school year just starting, the community will grow more as kids are back in school and share their passion with friends and actively involve them in (for) Dogecoin trading.

4) Dogecoin has a lot of coins, which some think looks bad, but in reality it appeals to people's self-importance, which is especially attractive to kids, and hence Doge will continue to have a large audience. If that audience gradually transforms into NXT audience due to SuperNET, that will be a big plus. Dogecoin audience keeps on inventing new stuff if you check their subreddit, NXT simply must get some attention there and get a share of that audience. Dogecoin fans are not going anywhere, mind you, Doge might switch to PoW/PoS model later when rewards go to 10k/block, so the hashrate would even be irrelevant then.

5) Doge is being added to twitch.tv as a tipping tool this week, it has a very good chance to become a tipping coin of the Internet, again due to its large coin base, which enlarges adoption by orders of magnitude. Other developers are making tipping tools that use Doge for other popular websites too.

6) Dogeparty - decentralized exchange based on Counterparty source code, but faster, because it runs on Dogecoin network. Dogecoin users will play with it and then they could switch to NXT as a more serious platform, already knowing what decentralized exchange is and how it works, provided NXT gets their attention with SuperNet.

Probably a few more reasons I could think of, but I guess it's enough for now. Those scrypt ASICs are a large network and NXT must be able to help it work for NXT.

If it's resolute No from James, oh well, I tried. But I see a lot of benefits if SuperNet adds Dogecoin.
Title: Re: SuperNET IPO/Poloniex
Post by: _mr_e on September 02, 2014, 04:08:06 pm
Seriously? Doge is a joke. and I don't mean that to be a dick. Doge is literally a joke. People need to realize that. It offers nothing, just like litecoin. It's play money for getting noobs into real crypto, that is it.
Title: Re: SuperNET IPO/Poloniex
Post by: devphp on September 02, 2014, 04:10:21 pm
Seriously? Doge is a joke. and I don't mean that to be a dick. Doge is literally a joke. People need to realize that. It offers nothing, just like litecoin. It's play money for getting noobs into real crypto, that is it.

Yes. That's the whole point. Dogecoin users could switch to NXT and there are 87000 of them registered on reddit. If SuperNet doesn't include Dogecoin, it's a huge audience that NXT will miss.

EDIT: I don't agree it's a joke, you never know, but even if it is, see what I said in the previous paragraph.
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 02, 2014, 04:15:05 pm
FYI, the umgw team is currently working on getting the nxt to doge bridge up. ;) So far testing has gone the best out of the three coins that we're working with right now.
Title: Re: SuperNET IPO/Poloniex
Post by: Dunster on September 02, 2014, 04:23:20 pm
But I think Doge has default 128 bits addresses.  But they are still Dogetards. 8)
Title: Re: SuperNET IPO/Poloniex
Post by: Mexxer on September 02, 2014, 06:59:53 pm
I've been wondering how the superNET will actually look and feel like when it's done ...

I understand that coins in the superNET will have access to your services like instaDEX, MGW and such ... will it be possible to add other services to that and create something like an app store or feature sharing between coins? Or is that what the google ad word style list is going to be?
Title: Re: SuperNET IPO/Poloniex
Post by: theironman on September 02, 2014, 07:16:14 pm
OK, so there is
http://thesupernet.org/ (http://thesupernet.org/)
where it is possible to sign up for a newsletter

SIGNED UP!

Let me just count the NXT for this IPO..

(http://reactiongifs.me/wp-content/uploads/2014/03/I-am-rich-floyd-mayweather-throwing-money.gif)
Title: Re: SuperNET IPO/Poloniex
Post by: Peter2516 on September 02, 2014, 09:34:13 pm
Are those some kind of paper wallets he's throwing at the camera?
Title: Re: SuperNET IPO/Poloniex
Post by: pf on September 02, 2014, 09:57:07 pm
I will be going offline for a while
need to beef up security

You going to be doing some push-ups?
done.
overstayed my welcome at my friends place
Haha, you can stay at my house any time Mr. Nakamoto. :p
Title: Re: SuperNET IPO/Poloniex
Post by: pf on September 02, 2014, 09:58:37 pm
I like nexus, unity coming second.

But if we're talking cooperative culture and self sufficiency, anthropology also suggests tribe (where James would be the Big Man figure) :)

Bah - I, for one, am not a fan of patriarchy, or any hierarchy. ;)

If some year we're all rich off of crypto, I vote we all go to Burning Man together.
Title: Re: SuperNET IPO/Poloniex
Post by: swartzfeger on September 02, 2014, 10:11:46 pm

Seriously? Doge is a joke. and I don't mean that to be a dick. Doge is literally a joke. People need to realize that. It offers nothing, just like litecoin. It's play money for getting noobs into real crypto, that is it.

Yes. That's the whole point. Dogecoin users could switch to NXT and there are 87000 of them registered on reddit. If SuperNet doesn't include Dogecoin, it's a huge audience that NXT will miss.

devphp raises a great point here. It's not about the long term viability of doge, but the passion of their users. Let's do more outreach to these folks.

The only thing doge can do at this point is tip. Let's get these users involved.


Sent from my iPhone using Tapatalk
Title: Re: SuperNET IPO/Poloniex
Post by: msin on September 02, 2014, 10:32:17 pm

Seriously? Doge is a joke. and I don't mean that to be a dick. Doge is literally a joke. People need to realize that. It offers nothing, just like litecoin. It's play money for getting noobs into real crypto, that is it.

Yes. That's the whole point. Dogecoin users could switch to NXT and there are 87000 of them registered on reddit. If SuperNet doesn't include Dogecoin, it's a huge audience that NXT will miss.

devphp raises a great point here. It's not about the long term viability of doge, but the passion of their users. Let's do more outreach to these folks.

The only thing doge can do at this point is tip. Let's get these users involved.


Sent from my iPhone using Tapatalk

My impression is that Nxt will only be an option within SuperNet, not part of the core, so Doge users can skip Nxt entirely if they want to.  BTCD will be the core of SuperNet, basically the only required coin, all others will be add ons, including Nxt.
Title: Re: SuperNET IPO/Poloniex
Post by: xyzzyx on September 02, 2014, 10:33:55 pm
overstayed my welcome at my friends place
Haha, you can stay at my house any time Mr. Nakamoto. :p

I tried to get people to think BCNext was Satoshi back in the old mega-thread. (https://bitcointalk.org/index.php?topic=345619.msg4870740#msg4870740)  (And I would have gotten away with it too if it wasn't for you damned kids!)  I think the jl777 as Satoshi would be a hard sell.  OTOH, we could probably get people to think jl777 is BCNext if we tried hard enough.  ;)
Title: Re: SuperNET IPO/Poloniex
Post by: pf on September 02, 2014, 11:00:58 pm
I imagine if Jame did arrive at my house, it would probably be in the batmobile.
Title: Re: SuperNET IPO/Poloniex
Post by: apex944 on September 02, 2014, 11:06:25 pm
James,
The one part I don't get is why Privatebet?  This is the only piece of SuperNET that doesn't "add value" in my mind. 
Everything else can be argued as crypto-tech that has features required or complementary to advance the technology as a whole. 






Title: Re: SuperNET IPO/Poloniex
Post by: msin on September 02, 2014, 11:10:31 pm
James,
The one part I don't get is why Privatebet?  This is the only piece of SuperNET that doesn't "add value" in my mind. 
Everything else can be argued as crypto-tech that has features required or complementary to advance the technology as a whole.

Interesting point, who decides who can participate in SuperNet, who decides when a coin "stops innovating"?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 11:47:05 pm
Hey,

please consider Dogecoin to be added to SuperNET.

I know James you think its hashrate is going down and it will die, but let me list a few pros based on the idea that SuperNET should utilize the power of Scrypt ASICs network.

1) Dogecoin has a strong developer Langer_hans, who is very active and recently released version 1.8 which supports auxPoW, which means other scrypt coins are starting to add to the hashrate of Doge.

2) Doge has bottomed and not going any lower (lowest was 20 satoshi), it takes only a few bitcoins to keep it afloat above that level, while Litecoin still has a lot of downside.

3) Doge community is large and second to Bitcoin only, and the school year just starting, the community will grow more as kids are back in school and share their passion with friends and actively involve them in (for) Dogecoin trading.

4) Dogecoin has a lot of coins, which some think looks bad, but in reality it appeals to people's self-importance, which is especially attractive to kids, and hence Doge will continue to have a large audience. If that audience gradually transforms into NXT audience due to SuperNET, that will be a big plus. Dogecoin audience keeps on inventing new stuff if you check their subreddit, NXT simply must get some attention there and get a share of that audience. Dogecoin fans are not going anywhere, mind you, Doge might switch to PoW/PoS model later when rewards go to 10k/block, so the hashrate would even be irrelevant then.

5) Doge is being added to twitch.tv as a tipping tool this week, it has a very good chance to become a tipping coin of the Internet, again due to its large coin base, which enlarges adoption by orders of magnitude. Other developers are making tipping tools that use Doge for other popular websites too.

6) Dogeparty - decentralized exchange based on Counterparty source code, but faster, because it runs on Dogecoin network. Dogecoin users will play with it and then they could switch to NXT as a more serious platform, already knowing what decentralized exchange is and how it works, provided NXT gets their attention with SuperNet.

Probably a few more reasons I could think of, but I guess it's enough for now. Those scrypt ASICs are a large network and NXT must be able to help it work for NXT.

If it's resolute No from James, oh well, I tried. But I see a lot of benefits if SuperNet adds Dogecoin.
I am a practical guy and cannot overlook the massive DOGE user base
I also like dogs more than cats :)
That being said, some unique feature is still needed. But if they have a good dev and some creativity I am sure they can come up with some thing.

So, it is not for me to select the coins.
It is for the coin community and its devs to decide that they are wanting a place in the SuperNET core
then the requirements are common sense base so it is a matter for some discussions and for the larger coin communities I am not such a strict rule enforcer

so think of it more as guidelines.

James

P.S. I still dont see what LTC has though. DOGE is at least the tipping, great community
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 11:49:33 pm
Seriously? Doge is a joke. and I don't mean that to be a dick. Doge is literally a joke. People need to realize that. It offers nothing, just like litecoin. It's play money for getting noobs into real crypto, that is it.
Marketing has value
If I put my mind to it I am confident I can come up with a unique feature for DOGE
and if there is some unique tech, regardless of how difficult it is to develop, the key is UNITY and to ignore the contributions the DOGE community has made to crypto, that is not common sense

James

P.S. tl:dr the bigger the coin community, the more the guidelines will flex, but always there must be something unique
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 11:51:22 pm
I've been wondering how the superNET will actually look and feel like when it's done ...

I understand that coins in the superNET will have access to your services like instaDEX, MGW and such ... will it be possible to add other services to that and create something like an app store or feature sharing between coins? Or is that what the google ad word style list is going to be?
Exactly!

James

P.S. this is more a GUI level thing in my opinion, how it is presented, where, etc. it is a matter for GUI designers and not me. I will of course complain if they show me something I feel is "wrong", but as long as it is functioning, that is most important at first
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 11:53:14 pm

Seriously? Doge is a joke. and I don't mean that to be a dick. Doge is literally a joke. People need to realize that. It offers nothing, just like litecoin. It's play money for getting noobs into real crypto, that is it.

Yes. That's the whole point. Dogecoin users could switch to NXT and there are 87000 of them registered on reddit. If SuperNet doesn't include Dogecoin, it's a huge audience that NXT will miss.

devphp raises a great point here. It's not about the long term viability of doge, but the passion of their users. Let's do more outreach to these folks.

The only thing doge can do at this point is tip. Let's get these users involved.


Sent from my iPhone using Tapatalk
If there is this tipping tech, then why not allow all coins to tip via converting to DOGE?
Doesnt this instantly give all SuperNET users the ability to tip anywhere DOGE can tip?
That sure sounds like a tech feature to me, especially since I remember some NXT tipping project that required some funding, maintenance,etc. and still it is no working
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 11:54:52 pm
James,
The one part I don't get is why Privatebet?  This is the only piece of SuperNET that doesn't "add value" in my mind. 
Everything else can be argued as crypto-tech that has features required or complementary to advance the technology as a whole.
you are saying a method for DAC as instantiated in instaDICE is not advancing the cryptotech?
or that allowing people to gamble without their govt punishing them is not advancing freedom?
Every space station needs a recreation area, otherwise the people go insane
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 11:55:22 pm
James,
The one part I don't get is why Privatebet?  This is the only piece of SuperNET that doesn't "add value" in my mind. 
Everything else can be argued as crypto-tech that has features required or complementary to advance the technology as a whole.

Interesting point, who decides who can participate in SuperNet, who decides when a coin "stops innovating"?
The other coins in the CORE
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 02, 2014, 11:55:54 pm
I like nexus, unity coming second.

But if we're talking cooperative culture and self sufficiency, anthropology also suggests tribe (where James would be the Big Man figure) :)

Bah - I, for one, am not a fan of patriarchy, or any hierarchy. ;)

If some year we're all rich off of crypto, I vote we all go to Burning Man together.

I'm in. :)  Always wanted to go!
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 02, 2014, 11:57:56 pm
James,
The one part I don't get is why Privatebet?  This is the only piece of SuperNET that doesn't "add value" in my mind. 
Everything else can be argued as crypto-tech that has features required or complementary to advance the technology as a whole.
maybe you missed: https://nxtforum.org/index.php?topic=4746.msg95673#msg95673
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 03, 2014, 12:01:12 am
not sure if I posted in this thread:
I would like to announce that the initial allocation of 5% of SuperNET net revenues will go toward NXT core dev bounties.
This matches the 5% that goes to BTCD stakers

I take care of all my investments

James
Title: Re: SuperNET IPO/Poloniex
Post by: EvilDave on September 03, 2014, 12:03:12 am
Thanks, J.
Title: SuperNET IPO/Poloniex
Post by: swartzfeger on September 03, 2014, 01:22:29 am
James, to make sure I understand properly:

I can transfer NXT to poloniex and buy SuperNET assets for a bonus. Then, I can take those and exchange them for an equivalent Nxt AE token(s)?


Sent from my iPhone using Tapatalk
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 03, 2014, 02:00:13 am
James, to make sure I understand properly:

I can transfer NXT to poloniex and buy SuperNET assets for a bonus. Then, I can take those and exchange them for an equivalent Nxt AE token(s)?


Sent from my iPhone using Tapatalk
correct
I am assuming a spontaneous and lively trading market will form on NXT AE
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 03, 2014, 02:41:11 am
The other coins in the CORE

UNITY CORE!  That has a nice ring to it. ;)  Not as the main name, but as a subset of UNITY - the core of unity.  Sounds sci-fi. lol
Title: Re: SuperNET IPO/Poloniex
Post by: sparta_cuss on September 03, 2014, 02:44:09 am
Just going to throw this out there as a term for this grand plan: ENGAGE.
It connotes gears meshing, but they don't lose their identities as individual gears. They create useful work by being engaged with one another on some grand machine. Engage also connotes connection and initiation, the beginning  of a relationship among otherwise separate entities.
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on September 03, 2014, 02:51:21 am
and I think a certain JLP would say something like "engage" now and then
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 03, 2014, 02:53:15 am
and I think a certain JLP would say something like "engage" now and then

(http://www.reactiongifs.com/wp-content/uploads/2013/09/tee-hee.gif)
Title: Re: SuperNET IPO/Poloniex
Post by: krojex on September 03, 2014, 03:24:19 am
need 5 letters that conveys the concept

Suppose that all worlds, all universes, met at a single nexus, a single pylon, a Tower.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 03, 2014, 03:24:32 am
Just going to throw this out there as a term for this grand plan: ENGAGE.
It connotes gears meshing, but they don't lose their identities as individual gears. They create useful work by being engaged with one another on some grand machine. Engage also connotes connection and initiation, the beginning  of a relationship among otherwise separate entities.
a bit late for the renaming
i will keep it in mind for some future things
Title: Re: SuperNET IPO/Poloniex
Post by: sparta_cuss on September 03, 2014, 03:26:47 am
a bit late for the renaming
i will keep it in mind for some future things

Things move fast around here.  ;)
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 03, 2014, 03:29:22 am
a bit late for the renaming
i will keep it in mind for some future things

Things move fast around here.  ;)

You gotta move fast to make it TO DA MOON. lol
Title: Re: SuperNET IPO/Poloniex
Post by: Abraxas 147 on September 03, 2014, 10:03:59 am
Quote
Quote from: swartzfeger on Today at 01:22:29 am

    James, to make sure I understand properly:

    I can transfer NXT to poloniex and buy SuperNET assets for a bonus. Then, I can take those and exchange them for an equivalent Nxt AE token(s)?


    Sent from my iPhone using Tapatalk

correct
I am assuming a spontaneous and lively trading market will form on NXT AE

Could someone please add information on how this "bonus thing" works to the Q&A section of http://thesupernet.org/? I'm not sure about the conditions (i.e. I want to use some fresh fiat and not my NXT for the purchase -> will I be eligible for a bonus then?) Would be great to have some information summarizing the conditions at  thesupernet.org

 
Title: Re: SuperNET IPO/Poloniex
Post by: gck on September 03, 2014, 10:29:34 am
Will there be a count down for the release of this on Poloniex (or an ETA)?  Want to be ready to buy.  Didn't see anything in the other threads other than "depends on Poloniex".
Title: Re: SuperNET IPO/Poloniex
Post by: godt on September 03, 2014, 10:51:57 am
Is there easy way to swap sharkfund0 or jl777hodl to superNET IPO ?
Title: Re: SuperNET IPO/Poloniex
Post by: Peter2516 on September 03, 2014, 04:04:29 pm

Is there easy way to swap sharkfund0 or jl777hodl to superNET IPO ?

If I understand correctly you'd need InstantDEX-service to swap assets. Until then you have to sell them for NXT first, using AE.
But maybe I'm wrong :)
Title: Re: SuperNET IPO/Poloniex
Post by: nxtperceval on September 03, 2014, 04:20:50 pm

You gotta move fast to make it TO DA MOON. lol

I can't see any moon in NXT: 6000sat
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 03, 2014, 04:23:14 pm

You gotta move fast to make it TO DA MOON. lol

I can't see any moon in NXT: 6000sat

You're not looking far enough. ;)
Title: Re: SuperNET IPO/Poloniex
Post by: himmelsfaller2 on September 03, 2014, 04:25:26 pm
If some year we're all rich off of crypto, I vote we all go to Burning Man together.

I'm in. with my profit until then then I will realize a big cool art installation and we can celebrate....
Title: Re: SuperNET IPO/Poloniex
Post by: NxtSwe on September 03, 2014, 07:01:46 pm
My impression is that Nxt will only be an option within SuperNet, not part of the core, so Doge users can skip Nxt entirely if they want to.  BTCD will be the core of SuperNet, basically the only required coin, all others will be add ons, including Nxt.

Isn't Nxt part of the BTCD core? So if BTCD core is part of SuperNet, then NXT must be as well?
I Could be wrong though ...
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 03, 2014, 07:34:01 pm

Is there easy way to swap sharkfund0 or jl777hodl to superNET IPO ?

If I understand correctly you'd need InstantDEX-service to swap assets. Until then you have to sell them for NXT first, using AE.
But maybe I'm wrong :)
this is correct
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 03, 2014, 07:37:21 pm
My impression is that Nxt will only be an option within SuperNet, not part of the core, so Doge users can skip Nxt entirely if they want to.  BTCD will be the core of SuperNet, basically the only required coin, all others will be add ons, including Nxt.

Isn't Nxt part of the BTCD core? So if BTCD core is part of SuperNet, then NXT must be as well?
I Could be wrong though ...
Nothing will be forced on anybody. Not BTCD, not NXT
If the user is not clicking on the "Enter SuperNET" button, then they are stuck on whatever cryptoisland they are on
Nobody likes to be forced, but if it is an option and it is free, over time many people will opt in having chosen to.
The difference between a popup advertising and one you click on. Which is more effective? Which is annoying and possibly even a negative?

James
Title: Re: SuperNET IPO/Poloniex
Post by: nxtperceval on September 03, 2014, 08:58:24 pm
My impression is that Nxt will only be an option within SuperNet, not part of the core, so Doge users can skip Nxt entirely if they want to.  BTCD will be the core of SuperNet, basically the only required coin, all others will be add ons, including Nxt.

Isn't Nxt part of the BTCD core? So if BTCD core is part of SuperNet, then NXT must be as well?
I Could be wrong though ...
Nothing will be forced on anybody. Not BTCD, not NXT
If the user is not clicking on the "Enter SuperNET" button, then they are stuck on whatever cryptoisland they are on
Nobody likes to be forced, but if it is an option and it is free, over time many people will opt in having chosen to.
The difference between a popup advertising and one you click on. Which is more effective? Which is annoying and possibly even a negative?

James

So NXT will not be the "core" of this supernet.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 03, 2014, 09:10:25 pm
My impression is that Nxt will only be an option within SuperNet, not part of the core, so Doge users can skip Nxt entirely if they want to.  BTCD will be the core of SuperNet, basically the only required coin, all others will be add ons, including Nxt.

Isn't Nxt part of the BTCD core? So if BTCD core is part of SuperNet, then NXT must be as well?
I Could be wrong though ...
Nothing will be forced on anybody. Not BTCD, not NXT
If the user is not clicking on the "Enter SuperNET" button, then they are stuck on whatever cryptoisland they are on
Nobody likes to be forced, but if it is an option and it is free, over time many people will opt in having chosen to.
The difference between a popup advertising and one you click on. Which is more effective? Which is annoying and possibly even a negative?

James

So NXT will not be the "core" of this supernet.
not sure how you conclude this
NXT will get 5% of SuperNET revenue sharing
This is the same as for BTCD
no other coins are getting this

It is a wholistic solution that is benefiting all of crypto, but NXT and BTCD are getting some preferences.
If you look at the NXT AE volumes, it is almost top 10 exchange
SuperNET makes NXT fully legitimized in the bitcoin world and will remove the unthinking bias. When people objectively look at NXT, then it has chance for achieving proper market price.

But you can think that NXT is not part of the SuperNET core if you wish.

James
Title: Re: SuperNET IPO/Poloniex
Post by: msin on September 03, 2014, 09:29:09 pm
I think what James is saying is that no coin will be "the core".  If you open your BTCD wallet (via browser), you can use it like normal and you can opt to enter SuperNet, at which point you will see all available features of participating coins, including all of Nxt features.  The same would go for a Nxt client, you would open it as usual, see all Nxt features and be able to click the enter SuperNet button.  All other participating coins would have a similar setup.  It's great because I can continue to use Nxt, like I do now, but I can click my SuperNet button and see other available features offered by other coins.  If I want to use BTCD feature, I just trade some Nxt for BTCD via MGW and I'm good to go.  Meanwhile, there are thousands of additional nodes now supporting Nxt when the users opt in to SuperNet.  Naturally Nxt will be a big part of SuperNet, because we have the most features and so many more advanced features to add down the road.  It will also give little guys exposure to a large user base.  Some may like it, some may decide to just use their native coin client, it's going to be really focused on people that use Crypto and not just invest for speculation, which I think it great.
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 03, 2014, 10:20:53 pm
I see you went with UNITY for the ticker symbol.  Good call, James. :)  I think you made the right choice for the spirit of what you are attempting to accomplish. :)
Title: Re: SuperNET IPO/Poloniex
Post by: nxtperceval on September 03, 2014, 10:22:13 pm
ok I undestand thanks for explanation
Title: Re: SuperNET IPO/Poloniex
Post by: cobaltskky on September 03, 2014, 10:25:03 pm
I don't think this got posted here:

http://209.126.70.170/SuperNET.pdf
Title: Re: SuperNET IPO/Poloniex
Post by: kodtycoon on September 04, 2014, 12:07:22 am
has the ipo started?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 12:08:01 am
I will post on jl777.org
and noashh setup auto-twittering, but I lost the URL for that
Title: Re: SuperNET IPO/Poloniex
Post by: sparta_cuss on September 04, 2014, 03:33:48 am
If cryptocurrencies are the Internet of money, then SuperNetwork is the browser.

Discuss.

Edit: Netscape, not AOL, I hope.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 04:43:25 am
If cryptocurrencies are the Internet of money, then SuperNetwork is the browser.

Discuss.

Edit: Netscape, not AOL, I hope.
if cryptocurrencies are the Internet of money, then SuperNET is the sum of all possible protocols that can run on top of the internet, along with built in cross marketing and traffic building (google ads) and monetization, that also funds development of new protocols.
Title: Re: SuperNET IPO/Poloniex
Post by: sparta_cuss on September 04, 2014, 04:44:38 am
If cryptocurrencies are the Internet of money, then SuperNetwork is the browser.

Discuss.

Edit: Netscape, not AOL, I hope.
if cryptocurrencies are the Internet of money, then SuperNET is the sum of all possible protocols that can run on top of the internet, along with built in cross marketing and traffic building (google ads) and monetization, that also funds development of new protocols.

So, not AOL.

Edit: Ok, I'm teasing a little, but for a purpose. It helps me (and I suspect it will help others) to think about new things in familiar terms. The SuperNET is a new kind of thing, but it is like other things. So it seems it's a little like an intelligent browser.

Is it true that the "SuperNET is the sum of all possible protocols," or just the sum of selected, reliable, secure protocols? There may be some coins, for example, that are trying very ambitiously to do new things, but are simply not up to an appropriate level of security or performance, and so won't yet be added, correct?
Title: Re: SuperNET IPO/Poloniex
Post by: Silvio on September 04, 2014, 06:47:59 am
There will be a technical screening..

To be eligible to become part of the core of SuperNET, a coin has to have something unique, now most of the top coins do have something unique
I expect initially I will run out of appropriate coins before I run out of BTC, but with the clear message that just forking a coin gets no consideration at all, then we will find more and more coins that are making unique features to be able to directly tap into the 100,000+ userbase of SuperNET
Title: Re: SuperNET IPO/Poloniex
Post by: Abraxas 147 on September 04, 2014, 07:42:26 am
Quote
I don't think this got posted here:

http://209.126.70.170/SuperNET.pdf

Thanks for the post, brilliant paper I enjoyed reading it and it's a very comprehensive summary of the ideas behind UNITY.  8)
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 08:20:44 am
Quote
I don't think this got posted here:

http://209.126.70.170/SuperNET.pdf

Thanks for the post, brilliant paper I enjoyed reading it and it's a very comprehensive summary of the ideas behind UNITY.  8)
cassius is very talented writer!
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 08:24:51 am
If cryptocurrencies are the Internet of money, then SuperNetwork is the browser.

Discuss.

Edit: Netscape, not AOL, I hope.
if cryptocurrencies are the Internet of money, then SuperNET is the sum of all possible protocols that can run on top of the internet, along with built in cross marketing and traffic building (google ads) and monetization, that also funds development of new protocols.

So, not AOL.

Edit: Ok, I'm teasing a little, but for a purpose. It helps me (and I suspect it will help others) to think about new things in familiar terms. The SuperNET is a new kind of thing, but it is like other things. So it seems it's a little like an intelligent browser.

Is it true that the "SuperNET is the sum of all possible protocols," or just the sum of selected, reliable, secure protocols? There may be some coins, for example, that are trying very ambitiously to do new things, but are simply not up to an appropriate level of security or performance, and so won't yet be added, correct?
"SuperNET is the sum of all useful protocols"
useful meaning if it is broken security wise or whatever, then not useful and also if the users dont want to use it, then it is also not useful.

I cannot imagine all coins/assets of the future, but I can imagine SuperNET to be including the best ones that are wanting to tap into the immense user base. SuperNET is allowing the really good devs, who are usually not so good at marketing to have a technical path into what I hope will be the second largest base of users for a crypto, behind bitcoin.

so with the revenue sharing back to the coin community, this means a good dev can quit his fiat job and work fulltime improving his coin/asset

accelerated network effect
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:28:40 am

Volunteers are sought to join SuperNET. Participants will need to pay their own way and will not receive any salary, office space or perks. There will be no guaranteed rewards for participants’ time, effort and commitment, other than a cryptoToken denoting SuperNET membership in proportion to the amount of their donation.

There is, however, a chance to change the world forever.

Introduction
The suite of technologies popularly known as cryptocurrencies offer significant advantages over fiat currency, including low transaction costs, speed and lack of interference from centralised authorities such as governments, banks and payment processors. Nevertheless, their wide-scale adoption has been hampered for a number of reasons – some of them external to the cryptocurrency world, some internal.

One of the major problems has been that cryptocurrency developers and enthusiasts typically adhere to a zero-sum economic worldview: the assumption is that there is a finite amount of money in the system and for one cryptocurrency to succeed, it must be at the expense of others. Whilst this may be true for some fiat markets, it should not be the case at this stage of cryptocurrency’s swift and promising evolution. The result is unnecessary competition between coins and their communities, rather than productive collaboration.

A related issue is that while there is remarkable innovation (not least the development of Bitcoin itself), there are also a large number of clone coins that are created with little or nothing to distinguish them from other cryptocurrencies. The sole aim of these is often no more than to enable early adopters to profit at the expense of later ones. These coins – copies at best, outright scams at worst – reduce overall confidence in cryptocurrency and make it difficult for prospective buyers to determine where true value lies.

Finally, cryptocurrencies are all traded speculatively as well as being adopted for any intrinsic benefits. Markets can be and are heavily manipulated by large holders, with smaller holders often losing out as a result.

SuperNET (cryptoToken symbol UNITY) is a new initiative that aims to address all of these problems. Its purpose is to:
Unite disparate cryptocurrencies by fostering collaboration
Reward innovation, talent and active coin communities
Share resulting benefits with core members and extend advantages to all cryptocurrencies
Bring value to long-term SuperNET participants

Risk factors
SuperNET is a volunteer movement and there is no guarantee that participants will profit financially from their involvement. SuperNET’s goal is to bring about greater unity, innovation, awareness and adoption of cryptocurrency technologies both within and outside the existing cryptocurrency world. SuperNET is not itself a cryptocurrency. There is no guarantee that any of the interlinked services included in the SuperNET core will generate any revenues, even in the cases that these services are already operational and profitable. Neither is there any guarantee that any of the cryptocurrencies purchased by SuperNET will increase in value, or that they will not depreciate over time, including losing all value whatsoever. The impact of any future regulation or technological development could theoretically render SuperNET tokens worthless at any point. Participants donate to SuperNET at their own risk and without expectation of financial return.

What is SuperNET?
SuperNET is a movement of volunteer participants who will donate their time and money to support a radical new cryptocurrency initiative. SuperNET itself is not a cryptocurrency. Participation in SuperNET and distribution of any revenues it may generate in the future will be denoted by ownership of cryptoTokens given in exchange for donations. (Membership may later be passed on by participants to others, in return for a further donation to the original participants if desired. This activity will be facilitated by traditional cryptocurrency exchanges.)

The idea behind SuperNET is simple but powerful: to create a mutually beneficial network of coins that offer real innovation. It will take the form of a basket of key cryptocurrencies and revenue-generating services.

SuperNET plans to achieve its aims by acquiring a significant (10 percent market cap) stake in participating coins with promising technology, adding further value by cross-marketing their features and providing additional services.

The features of each core coin will be made available to all of the others through a GUI embedded in the wallets of participating coins. SuperNET participants and core coin communities may potentially be rewarded by goodwill payments similar to dividends from a series of integrated linked services, as well as through any possible appreciation in value to the core cryptocurrencies brought about by the collaboration and sharing of features and services. Only coins that bring one or more unique features to the network will be added to the core, though any other cryptocurrency can benefit from these features on a third-party basis. (For example, Litecoin would not be eligible for addition to SuperNET. However, it would still have access to Teleport, InstantDEX and other services – see further below.)

Ultimately, it is hoped that SuperNET will attract greater talent and wealth into cryptocurrency from fiat, strengthening cryptocurrency overall by rewarding innovation, talent and commitment. SuperNET is not designed to replace Bitcoin or any other cryptocurrency, but to enable cryptocurrency to compete more effectively with the fiat economy. This is the cause to which participants commit themselves.

A new model of participation
Ethereum’s launch attracted investment of many thousands of Bitcoins. This was blamed for a prolonged and deep bear market among most altcoins, which holders sold for Bitcoins to buy Ether, as well as a fall in Bitcoin prices in anticipation of Ethereum selling these Bitcoins to pay its bills.

Cryptocurrency launches are fraught with risk, even when there is a real coin to back any money paid in advance by interested parties. If too many people are interested in the cryptocurrency, the coin may never reach the value of its pre-launch funding – or may immediately be dumped for profit on release. With most coin launches, a large inflow of funds effectively dilutes the value of each recipient’s share and there is the likelihood of extreme volatility following launch.

SuperNET – which will operate as a cryptoToken (namely a NXT asset) rather than a cryptocurrency in its own right – will work in a completely different way. Although the amount of money accepted from its participants in donations will be uncapped, a larger flow of capital into the asset will not dilute each partcipant’s membership share. In fact, the greater SuperNET’s market cap, the greater the potential benefits for everyone, and for cryptocurrency overall.

SuperNET aims to hold 10 percent of the market cap of its core cryptocurrencies: those which offer genuine innovation and strong potential. The more money is raised, the more cryptocurrencies can be added to SuperNET. (At the time of writing, for example, Boolberry’s market cap stands at around $400,000 and a 10 percent share – already obtained – would cost only 80 BTC. By contrast 10 percent of NXT’s market cap would cost 5,800 BTC.)

Because SuperNET is backed by the cryptocurrencies comprising it, there is lower risk of the price crashing below the purchase price after launch, since its participants would effectively be selling the underlying currencies at less than market rate. If a participant commits 1 BTC to the project, this will be backed by 1 BTC worth of cryptocurrencies (including Bitcoin itself, since a large proportion of funds will be received and held in Bitcoin). This is true whether the total funds received are 100 BTC or 10,000 BTC: participants simply own a smaller share of a larger fund. UNITY therefore takes the form of something more like a closed-ended mutual fund than a traditional cryptocurrency offering: it is anti-dilutive, and the more money is collected the more powerful SuperNET will be through network effect, increased awareness and improved purchasing ability.

Due to the advantages of being a part of the SuperNET core, it is possible that the underlying currencies will rise in value after their addition is made public –  HYPERLINK "https://www.poloniex.com/exchange/btc_bbr"as was the case with Boolberry (BBR). (For this reason, prospective coin applicants will not be announced until their inclusion is fully confirmed. This would make purchasing the required quantity prohibitively expensive and lead to insider trading at the expense of existing holders. This also acts as a test of the coin developers’ integrity: no coin can be pumped in advance of its claimed addition to SuperNET. Such a price rise would be immediately recognisable and will likely be grounds for disqualification from inclusion in itself.)

Additional revenue-generating services
In addition to this perceived downside protection, the book price of UNITY does not take into account any of the revenue-generating potential provided by the additional services that will be included and cross-marketed to each other.

These services will initially derive from NXT assets donated to SuperNET by jl777, as well as one or two other sources such as Teleport and advertising revenues (see further below). The current market value of these personal NXT assets is currently around 60 million NXT, or 3,700 BTC. Based on the amount raised at SuperNET’s launch, between 25 and 50 percent of the revenue from these assets will be returned to SuperNET participants in the form of gift payments (or ‘dividends’) to thank them for their support.

Although there needs to be some flexibility in the allocation of revenues, SuperNET holders will not receive less than 50 percent of net revenues. The ‘net’ revenue will be 100 percent for internal dividends. There may be external services, however, which pay only a percentage of revenue to SuperNET. To clarify, at least half of the raw monies flowing into SuperNET will be guaranteed for UNITY participants.

Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:28:52 am

Most of the complementary and interlinked services are currently operational or have an expected completion date within the next six months. (Some, like PrivateBet, are open-ended, since new features can continually be added.) Services currently include:

Teleport. This is the core privacy technology that underpins BitcoinDark (BTCD). Teleport is currently in beta-testing. It will permanently be available for free to BTCD, and will initially be free for other cryptocurrencies. From next year it will begin to charge small fees for non-SuperNET coin transactions. Bitcoin alone opens a potential market over a thousand times larger than BTCD’s own current market cap. (For more information on Teleport see the  HYPERLINK "https://bitcointalk.org/index.php?topic=684090.0"BTCD thread on bitcointalk.)

InstantDEX (NXT asset id:  HYPERLINK "http://nxtexplorer.com/nxt/nxt.cgi?action=4000&aea=15344649963748848799"15344649963748848799) will enable near real-time trading between cryptocurrencies. As well as regular trading, it will be used to trade anonymous telepods of different cryptocurrency funds when Teleport is fully operational. (Negotiations are currently underway to increase SuperNET’s ownership of InstantDEX, thereby also increasing the flow of InstantDEX dividends into SuperNET.)

Tradebots (NXTcoinsco:  HYPERLINK "http://nxtexplorer.com/nxt/nxt.cgi?action=4000&aea=17571711292785902558"17571711292785902558) enables the creation of custom tradebots for specific markets and other unique applications using a Turing-complete scripting language. These will be used to trade and move telepods on and off the relevant blockchains, amongst other uses such as arbitrage in markets identified by interested individuals.

Sharkfund0 ( HYPERLINK "http://nxtexplorer.com/nxt/nxt.cgi?action=4000&aea=3006420581923704757"3006420581923704757) is a trading fund that aggressively targets high-performing assets. To date it has returned 300 percent in three months. Sharkfund0 owns 11 percent of all BTCD and 10 percent of BBR. It also has 20 percent of NXTprivacy, 10 percent of InstantDEX, 12 percent of jl777hodl (JLH), and around 10 percent of the Coinomat asset. Sharkfund0 is managed by jl777.

SuperNET card (cryptocard:  HYPERLINK "http://nxtexplorer.com/nxt/nxt.cgi?action=4000&aea=7110939398145553585"7110939398145553585). Due for launch by  HYPERLINK "https://coinomat.com/"Coinomat later in September or October this year, the SuperNET card will allow owners to send BTCD straight to the address on the card and withdraw as cash from any supported ATM – enabling completely anonymous cash withdrawals. The card will also support NXT and other SuperNET coins. (With an autoconvert service it could effectively work for any cryptocurrency.)

PrivateBet ( HYPERLINK "http://nxtexplorer.com/nxt/nxt.cgi?action=4000&aea=17083334802666450484"17083334802666450484) will allow individuals to make escrowed bets directly between each other. It will be designed to support P2P sports betting and casino games. PrivateBet creator jl777 has recently  HYPERLINK "https://nxtforum.org/job-board/'know-how'-for-sale-safe-instant-betting-a-la-satoshidice/"won an auction for the technology that will enable a new version of the highly popular SatoshiDice game, which lost many users due to switching from unconfirmed to confirmed transactions. The new technology will avoid this problem and hence access a known and active market.

NXTprivacy ( HYPERLINK "http://nxtexplorer.com/nxt/nxt.cgi?action=4000&aea=17911762572811467637"17911762572811467637) holds a series of privacy-related assets, including 50 percent of PrivateBet. Teleport revenues will flow through NXTprivacy. It also holds 30 percent of the SuperNET card asset, representing 0.3 percent of all the card’s transactions.

Targeted advertising, using a model similar to Google’s AdWords. This will allow website administrators to serve adverts directly to the cryptocurrency community, with revenue being returned to SuperNET participants.

It is possible (though by no means guaranteed) that these revenue-generating services alone might result in a 2-5x multiple on the book value of the underlying currencies purchased due to the high potential for future revenues. If this is the case, participants will receive this premium for free in return for their work, commitment and trust in SuperNET. Only one percent of the total amount collected will be retained for marketing, development and incidental costs. Thus the book value of UNITY will be 101 percent of its underlying cryptocurrencies (which will, in any case, be purchased at below-market rates). This one percent premium represents a low risk given the potential immediate upside, let alone long-term revenue prospects.

Each new cryptocurrency added to the SuperNET core will bring its own features and services, generating further revenues for participants and for the coins’ communities.

Participants are strongly recommended to do their own due diligence on each of these assets and services, and any further ones brought to SuperNET by new coins. However, the services above are designed to be unique but mutually reinforcing, so that if any single one fails the others will still operate and the whole will be greater than the sum of its parts. Prospective participants concerned about the timescale for completion of the key technology underpinning SuperNET are urged to visit jl777’s  HYPERLINK "https://github.com/jl777/libjl777"code repository for Teleport and other critical features. The  HYPERLINK "http://multigateway.org/"Multigateway, NXT’s distributed cryptocurrency exchange created by jl777, is in late beta and is actively used by the cryptocurrency community. Further information on many of the NXT asset services can be found on the  HYPERLINK "https://nxtforum.org/nxtventures/"NXTventures thread of NXTforum.org. Regular updates about the progress of relevant projects are given on  HYPERLINK "https://nxtforum.org/"NXTforum.org and on the  HYPERLINK "https://bitcointalk.org/index.php?topic=684090.0"bitcointalk BTCD thread.

How will the revenues be distributed?
The suite of services involved means that there may be opportunities to create significant future prosperity from SuperNET, whilst the downside is ideally protected by the (albeit volatile) values of the underlying cryptocurrencies. These will have been purchased at below-market rates and may appreciate simply due to their inclusion in SuperNET.

If the core cryptocurrency is proof-of-stake, the staked funds will be returned to the community rather than retained by the SuperNET asset. This will reward both the coins’ networks and early adopters, indirectly boosting SuperNET and the stated aim of strengthening cryptocurrency overall.

Revenues received from the services detailed above and any others added by participating cryptocurrencies will be distributed in the following proportions:
5 percent for BTCD stakers, via an associated NXT address
5 percent for NXT core development
50 percent for SuperNET participants
10 percent will be reserved for overheads and managing the SuperNET asset

The remaining 30 percent will be allocated on a discretionary basis to further core coin communities and for additional expenses and investment in important constituencies, such as those running nodes for core coins and other elements of the SuperNET and cryptocurrency ecosystem that require strengthening. In the earlier stages, SuperNET coin communities will receive a higher percentage of this revenue in order to front-load investment in the technology and marketing underpinning each coin. Revenue for each coin will be proportional to each coin’s contribution to overall revenue. For example, if a given coin generates 10 percent of SuperNET revenue, they will receive 10 percent of the revenue share allocated to coin communities and development.

Some flexibility is required since profits, participating currencies and future requirements cannot accurately be predicted. Discretion is also required in allocating the revenue to maximise the long-term value of SuperNET. However, it is worth noting that the model presupposes a 90 percent profit margin, due to the low overheads inherent in such an initiative and the considerable time and expertise voluntarily given to the project for free – both by founder jl777 and by participants. For real-world comparison, profit margins of 15 percent might typically be considered favourable. Additionally, the majority of jl777’s personal assets will be donated to SuperNET, making a strong self-interest case for maximising any benefits.

How to join SuperNET
SuperNET (symbol: UNITY) will take the form of a cryptoToken – specifically, a NXT asset – and will be traded on NXT’s Asset Exchange (available through the  HYPERLINK "http://nxt.org/"downloadable client or via  HYPERLINK "http://www.secureAE.com/"www.secureAE.com). The initial collection of donations from prospective participants will be managed by a designated exchange. Details about the exchange involved and escrow arrangements will be found at  HYPERLINK "http://thesupernet.org/"thesupernet.org. Tokens for UNITY assets will be credited to participants’ account balances and can be withdrawn to NXT wallets. At no point will these funds be accessible by jl777, except for the one percent reserved for incidental costs.

Interested parties can donate with BTC, NXT, BTCD or directly with fiat, through a partnership with  HYPERLINK "https://coinomat.com/"Coinomat. NXT and BTCD donors will be eligible for a 5 percent bonus: enough to reward these core SuperNET communities but not enough to profit from arbitrage.

SuperNET will also reward early participation. Those who donate on day one will receive their UNITY assets at 15 percent below book (liquidation) value. This bonus will incrementally decrease, reaching 14 percent on day two, 13 percent on day three, and so on. Later participants in the initial fundraising phase will effectively donate a slight premium to cover this, though this itself will be offset by the below-market purchases of the fund and the value added by dividend payments. In any case, participants donate to support the greater cause of cryptocurrency cohesion and adoption, rather than to benefit financially from their involvement.

What will happen to donated funds?
Any cryptocurrency donated (predominantly BTC but also smaller quantities of NXT and BTCD) before launch will be held in escrow, using multi-jurisdiction accounts if the amounts raised become large enough to warrant such measures.

These funds will then be used to purchase shares in the currencies that will be included in the SuperNET core. These core currencies will be held in cold storage or accounts protected by multi-sig where possible, to protect participants’ donations. The purpose of this is to create long-term value and decrease volatility in the relevant markets.

Cryptocurrencies to be included in SuperNET will generally be bought off-exchange to secure below-market prices without causing slippage. The more successful the fundraiser, the larger the market caps of the cryptocurrencies that can be added to SuperNET.

Trading fund
In the event that SuperNET raises enough (a minimum of 5,000 BTC is suggested), a limited proportion of funds will be used for open market trading. The precedent for this is the jl777 NXT asset sharkfund0, which actively trades in a series of cryptocurrencies and other assets.

No more than 10 percent of funds will be employed for open market trading. A series of special exchange accounts with withdrawals disabled will be used for security reasons. These accounts will be used by traders, funded in proportion to their experience and skill, to make profits from short-term fluctuations in the price of different cryptocurrencies. The Tradebots asset may also be used to predict and arbitrage relevant markets.

The SuperNET traders (known as SuperTraders) will not receive any wages, but will also work voluntarily. They will, however, be rewarded with gifts in proportion to their success. Ten percent of the gains they make will be set aside for such gifts, with a further one percent set aside as a gift for the SuperTraders’ volunteer co-ordinator. An initial one-off sum will be set aside from gains as a cushion against potential losses, in addition to this total of 11 percent of gains on an ongoing basis.

Voting to change the initial parameters
It is possible that the initial parameters of SuperNET will be sub-optimal, in which case changes will need to be made. These will be carried out after a vote is held by SuperNET participants, in proportion to the quantities of UNITY cryptoTokens they hold.

For more information, see the  HYPERLINK "https://bitcointalk.org/index.php?topic=762346.0;topicseen"SuperNET thread or  HYPERLINK "https://bitcointalk.org/index.php?topic=684090.0"BTCD thread on bitcointalk, or visit  HYPERLINK "http://thesupernet.org/"thesupernet.org.

Important note
It is very important that you study local securities regulations issued by your local securities regulator before participating in SuperNET. We are not able to research all the world-wide securities regulations. Participation in SuperNET may or may not be permitted by your jurisdiction’s regulators. We are not able to confirm your domicile so we will assume your participation is allowed in your jurisdiction if you choose to participate in SuperNET.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:29:22 am
I will be making two assets, one will be called TOKEN with 0 decimals and it will have a price range of 0.01 to 0.0115 BTC

The price starts at 0.01 BTC and linearly goes to 0.0115 over two weeks (14 * 1440 minutes) so each minute there is a small increase in price. At each minute there will be 1000 TOKEN available in each supported currency any unsold will carry over to the next minute, with a cap of 5000 TOKEN.

For non-BTC sales, a conversion rate is calculated using a slow moving average (eg. 24 hours) so somebody would have to be pushing the price for an entire day, just to get a lower effective price for their TOKEN. Clearly not practical. The NXT and BTCD conversion rate is adjust with the 5% bonus and the TOKEN is made available just like for BTC.

In the event fiat denominated TOKEN is available, the conversion process is used like described in the previous paragraph, but without any 5% bonus.

On the 14th day to the 26th day, a test is made to see if 3% of the total has been raised that day. If not the process stops 2 days later. 28 days is the max duration.

At this point I will purchase TOKEN at the 0.0115 BTC price using the my core assets and any other InstantDEX that is made available using the coinmarketcap price - 1/2 of the 24hr change. this is an easy to calculate average of the current price and 24hrs ago. The asset prices are more stable so using a reasonable market price average and as balanced of set of assets, but not exceeding 10% of TOKEN, I get my TOKEN. All excess TOKEN will be burned at this point, though it doesnt really matter as TOKEN is only good for a 1:1 swap with SuperNET asset. I am not sure if the exchange fee is coming when the donation is made or whether I am doing it at this point by issuing some SuperNET to cover the trade commissions. In any case, it will be something like 0.2%

Now I can issue a matching number of SuperNET asset with 4 decimals and it is exchanged for the TOKEN on a 1:1 basis.
And the trading begins

James

P.S. A simplified version of the price changing could be done on NXT AE like shortNXT does, eg. if there is some big price change. At the exchange, it is just a 1:1 dividend, so it is pretty simple using NXT AE.

P.P.S. I think similar to sharkfund0, for those just allergic to any exchange, I can accommodate larger purchases with non-standard crypto on a case by case basis, but without any special bonuses and if it is non-standard crypto, I might even ask for a discount. This will get some diversification to the SuperNET portfolio, and I dont think it will be used that much, just something that is available in those rare cases.
Title: Re: SuperNET IPO/Poloniex
Post by: Jacinto on September 04, 2014, 10:34:09 am
OMG, those massive posts of James  :'(

Has anybody the tl;dr version of them?  ;)
Title: Re: SuperNET IPO/Poloniex
Post by: devphp on September 04, 2014, 10:50:34 am
Someone just issued UNITY asset on NXT AE, is that another fake?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:52:49 am
Someone just issued UNITY asset on NXT AE, is that another fake?
wasnt me
who was the issuer?
Anyway TOKEN is the asset I will be issuing first. this is a lazy scammer not reading the process
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:53:09 am
OMG, those massive posts of James  :'(

Has anybody the tl;dr version of them?  ;)
tl:dr SuperNET has no pirates
Title: Re: SuperNET IPO/Poloniex
Post by: devphp on September 04, 2014, 10:53:15 am
Someone just issued UNITY asset on NXT AE, is that another fake?
wasnt me
who was the issuer?
Anyway TOKEN is the asset I will be issuing first. this is a lazy scammer not reading the process

NXT-P7GF-X4TU-YSY8-APAZA
f*ck scammers!
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:55:43 am
Someone just issued UNITY asset on NXT AE, is that another fake?
wasnt me
who was the issuer?
Anyway TOKEN is the asset I will be issuing first. this is a lazy scammer not reading the process

NXT-P7GF-X4TU-YSY8-APAZA
f*ck scammers!
not a scammer
a musical thing maybe coincidence?
anyway the final asset will be called SuperNET, UNITY is just for the exchanges that only do 5 letters
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 04, 2014, 11:01:01 am
I will be making two assets, one will be called TOKEN with 0 decimals and it will have a price range of 0.01 to 0.0115 BTC

The price starts at 0.01 BTC and linearly goes to 0.0115 over two weeks (14 * 1440 minutes) so each minute there is a small increase in price. At each minute there will be 1000 TOKEN available in each supported currency any unsold will carry over to the next minute, with a cap of 5000 TOKEN.

James is this relating to how the IPO will work - is this being done on Poloniex?
So there will be TOKEN/BTC, TOKEN/NXT and TOKEN/BTCD markets for example?

If Poloniex exchange is managing this escalating price it will work but if you are doing this on AE this will be a train wreck.

The problem here is block propagation and block reliability if you are doing this on AE because generally people on the better networks and predominately in the US will get the blocks first and others will just see things pass them by.

Also why the escalating price - why not just offer a fixed price token as adjust the swap rate at the end based on how much is sold?

This kind of ladder also favours those who are online and trading all the time and leads to frenzy and frustration when you launch the sale.

Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 11:23:58 am
I will be making two assets, one will be called TOKEN with 0 decimals and it will have a price range of 0.01 to 0.0115 BTC

The price starts at 0.01 BTC and linearly goes to 0.0115 over two weeks (14 * 1440 minutes) so each minute there is a small increase in price. At each minute there will be 1000 TOKEN available in each supported currency any unsold will carry over to the next minute, with a cap of 5000 TOKEN.

James is this relating to how the IPO will work - is this being done on Poloniex?
So there will be TOKEN/BTC, TOKEN/NXT and TOKEN/BTCD markets for example?

If Poloniex exchange is managing this escalating price it will work but if you are doing this on AE this will be a train wreck.

The problem here is block propagation and block reliability if you are doing this on AE because generally people on the better networks and predominately in the US will get the blocks first and others will just see things pass them by.

Also why the escalating price - why not just offer a fixed price token as adjust the swap rate at the end based on how much is sold?

This kind of ladder also favours those who are online and trading all the time and leads to frenzy and frustration when you launch the sale.
yes TOKEN/BTC, TOKEN/NXT, ...
early birds get the discount, I like that
first of all the price is changing by small satoshis every minute
there is a limit of 1000 TOKEN per minute, unsold are carried over to next minute, max 5000
so no frenzy. you can always put a slightly higher bid .01001 ahead of time

For NXT, since there is a 5% bonus margin anyway, devphp is recommending to just do it daily. I am thinking maybe a bit more frequently, but I am not decided on AE yet.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 11:31:35 am
I see that ~60 mil ETH was sold. does anybody know how much BTC they raised?
Title: Re: SuperNET IPO/Poloniex
Post by: trivialcode on September 04, 2014, 11:36:01 am
I see that ~60 mil ETH was sold. does anybody know how much BTC they raised?
Makes approx. 30k BTC
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 04, 2014, 11:42:33 am

For NXT, since there is a 5% bonus margin anyway, devphp is recommending to just do it daily. I am thinking maybe a bit more frequently, but I am not decided on AE yet.

Thanks James, ok that makes sense but you have early birds already due to the daily bonus why do you need them by the minute.
In the mean time I would strongly advise doing an escalator on AE...
This is one scenario where decentralisation creates inequality based on who gets the blocks.
Title: Re: SuperNET IPO/Poloniex
Post by: Neomadra on September 04, 2014, 11:44:48 am
Any details when the IPO starts? I want to get rid of my last bitcoin because I have a gut feeling that bitcoin is going into insignificance very soon.
Title: Re: SuperNET IPO/Poloniex
Post by: ThomasVeil on September 04, 2014, 12:03:35 pm
I see that ~60 mil ETH was sold. does anybody know how much BTC they raised?

31.500 (they sold 4k so far)
https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2
Title: Re: SuperNET IPO/Poloniex
Post by: Abraxas 147 on September 04, 2014, 12:29:44 pm
Quote
yes TOKEN/BTC, TOKEN/NXT, ...
early birds get the discount, I like that
first of all the price is changing by small satoshis every minute
there is a limit of 1000 TOKEN per minute, unsold are carried over to next minute, max 5000
so no frenzy. you can always put a slightly higher bid .01001 ahead of time

I'm not sure if I understand fully...

If there are only 1000 TOKEN/minute how can I assure that I get shares for the nominated price. i.e: price is 0.01 but there may be biddings above this price (exchange will serve the best bid) lets say best bid is 0.02. So the TOKEN are sold to the person bidding 0.02 then?
Title: Re: SuperNET IPO/Poloniex
Post by: msin on September 04, 2014, 12:50:10 pm
Very well explained, thanks James.
Title: Re: SuperNET IPO/Poloniex
Post by: _mr_e on September 04, 2014, 12:59:46 pm
James where can I find some details on how instantdex actually works? How are you able to get around the 1 minute block time? Or is it just an m of n oracle that isn't actually using nxt at all?
Title: Re: SuperNET IPO/Poloniex
Post by: Ludom on September 04, 2014, 01:28:04 pm
I'm lost on one point :

How is the repartition of the revenue of the different services as dividend of the different assets.

Where go the revenue of muligateway : 100% to MGW ?

The revenue of InstantDEX : 50% to InstantDEX and others ?

The Annoncement revenue...

etc.

Please, James. Could you make a liste of the different revenue and their repartition to every assets.

Because, now, I don't understand that any more.
Title: Re: SuperNET IPO/Poloniex
Post by: eimon on September 04, 2014, 02:45:45 pm
Any details when the IPO starts? I want to get rid of my last bitcoin because I have a gut feeling that bitcoin is going into insignificance very soon.

Quote from OP of SuperNET IPO thread on bitcointalk:

"Some will ask, will this be a threat to Bitcoin itself? Well, of course not! Anybody that things that any coin (or even Supernetwork) will replace BTC is underestimating the power of the network effect. I offer a small example to make my point. DOS + Windows marketshare in 2014"

Bitcoin should be sticking around for awhile  ;D
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 02:57:09 pm
James where can I find some details on how instantdex actually works? How are you able to get around the 1 minute block time? Or is it just an m of n oracle that isn't actually using nxt at all?
peer to peer
initially the trades are pending until confirmed on the blockchain, but this is formality, signedtx bytes already exchanged
Title: Re: SuperNET IPO/Poloniex
Post by: _mr_e on September 04, 2014, 03:44:05 pm
Does this include all of the code for all of your projects, including current state of instantdex? https://github.com/jl777/libjl777

Would you mind weighing in a bit here: https://bitcointalk.org/index.php?topic=68655.msg8661687#msg8661687

Me and kodtycoon have been discussing nxt for months with these guys and no matter what they never seem to understand. Cypherdoc was someone who really helped me and I looked up to over the years to it is especially painful seeing him constantly so dismissive of nxt technology. Can you describe things better then me?
Title: Re: SuperNET IPO/Poloniex
Post by: AreYouCereal on September 04, 2014, 05:09:04 pm
there is no date yet, right? just read something about friday / saturday...
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 07:31:48 pm
Does this include all of the code for all of your projects, including current state of instantdex? https://github.com/jl777/libjl777

Would you mind weighing in a bit here: https://bitcointalk.org/index.php?topic=68655.msg8661687#msg8661687

Me and kodtycoon have been discussing nxt for months with these guys and no matter what they never seem to understand. Cypherdoc was someone who really helped me and I looked up to over the years to it is especially painful seeing him constantly so dismissive of nxt technology. Can you describe things better then me?
these are hardcore BTC guys. there is no point to waste energy now
there must be the proper preparation for uniting the altcoin's with the bitcoins for one truly united crypto

I think the BBR + XMR communities are now agreeing for cease fire and even active cooperations. Since they are brothers, this was made easier by the attack, which threatened all the cryptonotes. As soon as it becomes clear to people that more money will appear in their wallets from cooperation and less from attackings, then it is solved.

Until SuperNET is having the 100,000+ users, then the bitcoiners is laughing at us saying what a cute snot kitten
you cannot talk any sense to someone when they are laughing so hard

James
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 07:35:19 pm
I'm lost on one point :

How is the repartition of the revenue of the different services as dividend of the different assets.

Where go the revenue of muligateway : 100% to MGW ?

The revenue of InstantDEX : 50% to InstantDEX and others ?

The Annoncement revenue...

etc.

Please, James. Could you make a liste of the different revenue and their repartition to every assets.

Because, now, I don't understand that any more.
people have volunteered to do this
I dont do GUI
but I can answer that MGW is getting the 100% of its revenues and will get 10% of the InstantDEX revenue sharing half.
Meaning InstantDEX makes the revenues from the commissions. Half is going to the assetholders, the other half is its revenue sharings.

From this half there are many parties to be getting this and MGW is getting one 10% slice.
I wrote this down somewhere, cant find it, but the BTCD stakers are also getting 10% slice. someone please find my post with the breakdown, I am somewhat occupied now
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 07:37:01 pm
Does this include all of the code for all of your projects, including current state of instantdex? https://github.com/jl777/libjl777

Would you mind weighing in a bit here: https://bitcointalk.org/index.php?topic=68655.msg8661687#msg8661687

Me and kodtycoon have been discussing nxt for months with these guys and no matter what they never seem to understand. Cypherdoc was someone who really helped me and I looked up to over the years to it is especially painful seeing him constantly so dismissive of nxt technology. Can you describe things better then me?
it is not all the code, I have another 20,000 lines or so not ported yet, but this is not for the current projects
it is one incarnation of InstantDEX, about 2 weeks old and I got distracted in the middle of debugging and currently code is a bit scattered state
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 07:45:47 pm
Correction about TOKEN volumes.

I must have been too tired to use the 1000 TOKEN with 5000 max, this is projecting to be much higher than realistic, though for the first hours (or day) it might actually be about right. So the amount available per minute and the max will adjust as the volumes are changing so as to avoid it always being empty or always at the max.

Will try to keep it balanced in the middle but it will probably just be an occasional tweaking, so no guarantees, just wanted to post the clarification on the volumes

James
Title: Re: SuperNET IPO/Poloniex
Post by: _mr_e on September 04, 2014, 08:13:54 pm
Wait what is TOKEN and how does it differ from UNITY?
Title: Re: SuperNET IPO/Poloniex
Post by: msin on September 04, 2014, 08:25:54 pm
what a cute snot kitten

I'm sensing an oncoming Meme, where is 2Kool?

Seriously though, reading that thread is like listening to a bunch of old guys in armchairs complaining about the youth.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 08:26:58 pm
Due to the expected immense size of SuperNET, and the idiocy of USA rules, I am not sure about the venue. However, I assure you that nothing can stop the SuperNET and a contingency plan is in place. Not ideal for some peoples, but alas I am not able to control the overwhelming powers that the USA has.

So, yes, there is a non-USA possibility and this will make some people happy and some people sad. I have no specific info, just guessing. Ideally we will have a multivenue to offer the most flexible options. So, it is looking likely, near certain that there will be some direct TOKEN available on the NXT AE.

I await the word from poloniex and so this is just raising the possibility of a non-USA venue.

Now, I am asking about the bitgo and maybe other escrow places to safekeep the funds. One idea I had was to distribute the escrow across many known escrow peoples, but not sure if we can fine 100 of such people. managing so many will be quite a challenge and that is before throwing in multisig

So, what is before some theoretical thing could become some quite real and important thing.
I just had simple idea. What if the large SuperNET stake holders are providing the escrow for a similar amount.
so if someone is putting in 100 BTC, then they of course get the 100 BTC of SuperNET, but they are also responsible for 100 BTC worth of escrow. One problem is what if they sell all the SuperNET and then now have no incentive to honor the escrow...
so maybe this is not so good an idea

I am looking for a solution on how to safekeep 10000+ BTC
until we know how much will come in, we dont even know the exact problem
I certainly do not want to be the one having direct access to so much!
I am sure we will have many volunteers to hold these funds Smiley

So, if the USA companies are maybe at some risk, and non-USA companies are maybe not so big and reliable, we are facing some bad choices. There is the time to solve this and I am hoping someone in the community has some good experience with this.

James
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 08:28:59 pm
Wait what is TOKEN and how does it differ from UNITY?
TOKEN is needed as I am not sure how much will be raised
I guess I could just issue a large number and send excess to genesis, but it just feels wrong to send any SuperNET to genesis

also using TOKEN -> UNITY allows for some arms lengthing of tx within USA
Title: Re: SuperNET IPO/Poloniex
Post by: msin on September 04, 2014, 08:38:13 pm
As long as Token is available directly on AE, I don't see a problem with the US Buyer/Poloniex issue.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 08:44:57 pm
There is some demand for hearing the hottest news about various things, like what coin will get added next
so from now on I will say just sign up for the newsletter at thesupernet.org
such informations will be sent out via this newsletter

James
Title: Re: SuperNET IPO/Poloniex
Post by: PoofKnuckle on September 04, 2014, 08:46:17 pm

the bitcoiners is laughing at us saying what a cute snot kitten


(http://i.ytimg.com/vi/71r6Qc0XLy8/hqdefault.jpg)

Title: Re: SuperNET IPO/Poloniex
Post by: msin on September 04, 2014, 09:18:30 pm
Thank you PoofKnuckle
Title: SuperNET IPO/Poloniex
Post by: rudeboi on September 04, 2014, 09:35:10 pm
I just read in the paper:

Revenues received from the services detailed above and any others added by participating cryptocurrencies will be distributed in the following proportions:
5 percent for BTCD stakers, via an associated NXT address
5 percent for NXT core development
50 percent for SuperNET participants
10 percent will be reserved for overheads and managing the SuperNET asset

I wasn't sure how this worked with the earlier statement about the 5% (+15% first day) Nxt bonus. As I can't see anything about the Nxt bonus, just about BTCD.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 09:45:21 pm
I just read in the paper:

Revenues received from the services detailed above and any others added by participating cryptocurrencies will be distributed in the following proportions:
5 percent for BTCD stakers, via an associated NXT address
5 percent for NXT core development
50 percent for SuperNET participants
10 percent will be reserved for overheads and managing the SuperNET asset

I wasn't sure how this worked with the earlier statement about the 5% (+15% first day) Nxt bonus. As I can't see anything about the Nxt bonus, just about BTCD.
the paper is not talking about the funding process, but the operations of SuperNET

https://nxtforum.org/index.php?topic=4940.msg96331#msg96331 has the structure of the fundings
Title: Re: SuperNET IPO/Poloniex
Post by: rudeboi on September 04, 2014, 09:57:02 pm

I just read in the paper:

Revenues received from the services detailed above and any others added by participating cryptocurrencies will be distributed in the following proportions:
5 percent for BTCD stakers, via an associated NXT address
5 percent for NXT core development
50 percent for SuperNET participants
10 percent will be reserved for overheads and managing the SuperNET asset

I wasn't sure how this worked with the earlier statement about the 5% (+15% first day) Nxt bonus. As I can't see anything about the Nxt bonus, just about BTCD.
the paper is not talking about the funding process, but the operations of SuperNET

https://nxtforum.org/index.php?topic=4940.msg96331#msg96331 has the structure of the fundings

Thanks James, I missed that post. So all through poloniex then? I better go set up a account.
Title: Re: SuperNET IPO/Poloniex
Post by: Jacinto on September 04, 2014, 09:58:16 pm
So is this new asset "TOKEN" the actual and original asset for SuperNet?:

https://nxtblocks.info/#section/assets_exchange/market/1827313866316571844 (https://nxtblocks.info/#section/assets_exchange/market/1827313866316571844)


Can i buy it with confidence?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 09:58:42 pm

I just read in the paper:

Revenues received from the services detailed above and any others added by participating cryptocurrencies will be distributed in the following proportions:
5 percent for BTCD stakers, via an associated NXT address
5 percent for NXT core development
50 percent for SuperNET participants
10 percent will be reserved for overheads and managing the SuperNET asset

I wasn't sure how this worked with the earlier statement about the 5% (+15% first day) Nxt bonus. As I can't see anything about the Nxt bonus, just about BTCD.
the paper is not talking about the funding process, but the operations of SuperNET

https://nxtforum.org/index.php?topic=4940.msg96331#msg96331 has the structure of the fundings

Thanks James, I missed that post. So all through poloniex then? I better go set up a account.
you missed this one too!
https://nxtforum.org/index.php?topic=4940.msg96504#msg96504
Title: Re: SuperNET IPO/Poloniex
Post by: rudeboi on September 04, 2014, 10:02:57 pm
Haha,  I got no excuse for missing that one its only a few posts above mine.

Cheers
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:04:08 pm
I am having the desire for a fancy countdown clock for some reason
Can somebody make a nice one?

Last countdown was for JLH, which in and of itself did not move a lot of money, but if you trace back through the possible alternate timelines, you will realize that SuperNET is a casual result of JLH listing.

I knew JLH was a fundamental change, I didnt know exactly how it would show its significance.
The JLH even is the ancestor to SuperNET!

Without all the assets on CMC and exchanges, the thought of SuperNET to bring in funds would be like the snot kittens. Now with NXT AE in the Top 10 of all exchanges, with just a few of the assets, MGW being significant percentage of NXT trading. All the things that were theoretically possible are having real life, real money proofs.

So the countdown is about to start.

James

P.S. How much time should I put on the timer?
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 04, 2014, 10:05:13 pm
So is this new asset "TOKEN" the actual and original asset for SuperNet?:

https://nxtblocks.info/#section/assets_exchange/market/1827313866316571844 (https://nxtblocks.info/#section/assets_exchange/market/1827313866316571844)


Can i buy it with confidence?

THE ASSET ISSUED BY NXT-P7GF-X4TU-YSY8-APAZA IS A SCAM

From Earlier

Someone just issued UNITY asset on NXT AE, is that another fake?
wasnt me
who was the issuer?
Anyway TOKEN is the asset I will be issuing first. this is a lazy scammer not reading the process

NXT-P7GF-X4TU-YSY8-APAZA
f*ck scammers!
not a scammer
a musical thing maybe coincidence?
anyway the final asset will be called SuperNET, UNITY is just for the exchanges that only do 5 letters

Sadly so far 115k NXT in sales....
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:13:42 pm
So is this new asset "TOKEN" the actual and original asset for SuperNet?:

https://nxtblocks.info/#section/assets_exchange/market/1827313866316571844 (https://nxtblocks.info/#section/assets_exchange/market/1827313866316571844)


Can i buy it with confidence?
NO!
I did not announce that is scam issuer
I will just have to issue the official one so the scammers will stop.
give me a bit of time
Title: Re: SuperNET IPO/Poloniex
Post by: frohlocke on September 04, 2014, 10:18:10 pm
I am having the desire for a fancy countdown clock for some reason
Can somebody make a nice one?

Last countdown was for JLH, which in and of itself did not move a lot of money, but if you trace back through the possible alternate timelines, you will realize that SuperNET is a casual result of JLH listing.

I knew JLH was a fundamental change, I didnt know exactly how it would show its significance.
The JLH even is the ancestor to SuperNET!

Without all the assets on CMC and exchanges, the thought of SuperNET to bring in funds would be like the snot kittens. Now with NXT AE in the Top 10 of all exchanges, with just a few of the assets, MGW being significant percentage of NXT trading. All the things that were theoretically possible are having real life, real money proofs.

So the countdown is about to start.

James

P.S. How much time should I put on the timer?

IMO AFASP to prevent all this negatives. New peolple get afraid to be scammed. So my suggestions is Sat. 9.25 NY time. 5 min before WS start and on a Saturday-> thats crypto!
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:19:29 pm
I am having the desire for a fancy countdown clock for some reason
Can somebody make a nice one?

Last countdown was for JLH, which in and of itself did not move a lot of money, but if you trace back through the possible alternate timelines, you will realize that SuperNET is a casual result of JLH listing.

I knew JLH was a fundamental change, I didnt know exactly how it would show its significance.
The JLH even is the ancestor to SuperNET!

Without all the assets on CMC and exchanges, the thought of SuperNET to bring in funds would be like the snot kittens. Now with NXT AE in the Top 10 of all exchanges, with just a few of the assets, MGW being significant percentage of NXT trading. All the things that were theoretically possible are having real life, real money proofs.

So the countdown is about to start.

James

P.S. How much time should I put on the timer?

IMO AFASP to prevent all this negatives. New peolple get afraid to be scammed. So my suggestions is Sat. 9.25 NY time. 5 min before WS start and on a Saturday-> thats crypto!
i am thinking of weekend starting, but a lot sooner than 9/25!
Title: Re: SuperNET IPO/Poloniex
Post by: frohlocke on September 04, 2014, 10:22:36 pm
I am having the desire for a fancy countdown clock for some reason
Can somebody make a nice one?

Last countdown was for JLH, which in and of itself did not move a lot of money, but if you trace back through the possible alternate timelines, you will realize that SuperNET is a casual result of JLH listing.

I knew JLH was a fundamental change, I didnt know exactly how it would show its significance.
The JLH even is the ancestor to SuperNET!

Without all the assets on CMC and exchanges, the thought of SuperNET to bring in funds would be like the snot kittens. Now with NXT AE in the Top 10 of all exchanges, with just a few of the assets, MGW being significant percentage of NXT trading. All the things that were theoretically possible are having real life, real money proofs.

So the countdown is about to start.

James

P.S. How much time should I put on the timer?

IMO AFASP to prevent all this negatives. New peolple get afraid to be scammed. So my suggestions is Sat. 9.25 NY time. 5 min before WS start and on a Saturday-> thats crypto!
i am thinking of weekend starting, but a lot sooner than 9/25!
Sorry typo
9:25 next Sat
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 04, 2014, 10:25:37 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!
Title: Re: SuperNET IPO/Poloniex
Post by: TheCryptoWoman on September 04, 2014, 10:26:19 pm
I am having the desire for a fancy countdown clock for some reason
Can somebody make a nice one?

Last countdown was for JLH, which in and of itself did not move a lot of money, but if you trace back through the possible alternate timelines, you will realize that SuperNET is a casual result of JLH listing.

I knew JLH was a fundamental change, I didnt know exactly how it would show its significance.
The JLH even is the ancestor to SuperNET!

Without all the assets on CMC and exchanges, the thought of SuperNET to bring in funds would be like the snot kittens. Now with NXT AE in the Top 10 of all exchanges, with just a few of the assets, MGW being significant percentage of NXT trading. All the things that were theoretically possible are having real life, real money proofs.

So the countdown is about to start.

James

P.S. How much time should I put on the timer?

Tell me the exact time of launch and I'll put one on the nxtcommunity.org site late tonight or early tomorrow.
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 04, 2014, 10:27:34 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!

edit: Hell start it at 1am PST - just not at 6:25 for goodness sakes!
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on September 04, 2014, 10:30:28 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!

ohman, somethings you just have to get up for..
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 04, 2014, 10:31:44 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!

edit: Hell start it at 1am PST - just not at 6:25 for goodness sakes!

12:00 UTC is the fairest time of course.... equally horrible for the east and the west....

(readers should note the author resides in the UK :) )
Title: Re: SuperNET IPO/Poloniex
Post by: frohlocke on September 04, 2014, 10:36:58 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!

edit: Hell start it at 1am PST - just not at 6:25 for goodness sakes!

12:00 UTC is the fairest time of course.... equally horrible for the east and the west....

(readers should note the author resides in the UK :) )
IMO it should have a message. it could be a one in a life time event. it is worth to wake up for that.
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 04, 2014, 10:38:14 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!

edit: Hell start it at 1am PST - just not at 6:25 for goodness sakes!

12:00 UTC is the fairest time of course.... equally horrible for the east and the west....

(readers should note the author resides in the UK :) )

The time should be set where it is convenient for the most buyers. Most buyers being from US and China - not that small rainy island in the North Sea ;)
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 04, 2014, 10:40:19 pm

The time should be set where it is convenient for the most buyers. Most buyers being from US and China - not that small rainy island in the North Sea ;)

More people doesn't mean more buyers :P

EDIT: and the weather is quite nice right now - you should try it...
Title: Re: SuperNET IPO/Poloniex
Post by: TwinWinNerD on September 04, 2014, 10:42:37 pm
abonnemant
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:54:14 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!

edit: Hell start it at 1am PST - just not at 6:25 for goodness sakes!

12:00 UTC is the fairest time of course.... equally horrible for the east and the west....

(readers should note the author resides in the UK :) )

The time should be set where it is convenient for the most buyers. Most buyers being from US and China - not that small rainy island in the North Sea ;)
what time is 8:17 AM in China and 8:17PM in USA?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 10:55:38 pm
are we on a 30 minute block?
226177
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 04, 2014, 10:56:07 pm
what time is 8:17 AM in China and 8:17PM in USA?

00:17 UTC isn't it?

EUROPE is the loser....
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 04, 2014, 10:58:52 pm
are we on a 30 minute block?
226177

I'm on 226728 @ 23:51:27
Title: Re: SuperNET IPO/Poloniex
Post by: yassin54 on September 04, 2014, 11:03:23 pm
what is excatly time Europe star Supernet? (French)  ;) ;)
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 04, 2014, 11:07:13 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!

edit: Hell start it at 1am PST - just not at 6:25 for goodness sakes!

12:00 UTC is the fairest time of course.... equally horrible for the east and the west....

(readers should note the author resides in the UK :) )

The time should be set where it is convenient for the most buyers. Most buyers being from US and China - not that small rainy island in the North Sea ;)
what time is 8:17 AM in China and 8:17PM in USA?

8:17am in US is 11:17Pm in China. Or, even better, how about 8:17pm in US and 11:17 am in China?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 11:12:56 pm
9:25 NY time is 6:25am PST - on a SATURDAY?? Thats completely unfair.

Start it when the world (including the 7th largest economy - California) is awake please!

edit: Hell start it at 1am PST - just not at 6:25 for goodness sakes!

12:00 UTC is the fairest time of course.... equally horrible for the east and the west....

(readers should note the author resides in the UK :) )

The time should be set where it is convenient for the most buyers. Most buyers being from US and China - not that small rainy island in the North Sea ;)
what time is 8:17 AM in China and 8:17PM in USA?

8:17am in US is 11:17Pm in China. Or, even better, how about 8:17pm in US and 11:17 am in China?
Is there any time where China, USA and Europe are overlapping?
so if it is 8:17PM in Europe, then USA is fine and maybe it is already the morning in China?
Title: Re: SuperNET IPO/Poloniex
Post by: tersagun on September 04, 2014, 11:17:25 pm
Why not just 14:00 GMT?

It's day time for Europe, evening for Asia, night time for west cost and morning for east cost.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 11:22:41 pm
Why not just 14:00 GMT?

It's day time for Europe, evening for Asia, night time for west cost and morning for east cost.
does this work for everyone?
Title: Re: SuperNET IPO/Poloniex
Post by: _mr_e on September 04, 2014, 11:23:59 pm
Does it really matter? Is there any reason people need to get in right at the bell? Won't the day 1 bonus be good for 24 hours?
Title: Re: SuperNET IPO/Poloniex
Post by: yassin54 on September 04, 2014, 11:26:34 pm
Why not just 14:00 GMT?

It's day time for Europe, evening for Asia, night time for west cost and morning for east cost.
does this work for everyone?
14:00 GMT it s perfect for me   :D :D :D
 when start  Friday, Saturday, Sunday?

Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 04, 2014, 11:27:29 pm
Why not just 14:00 GMT?

It's day time for Europe, evening for Asia, night time for west cost and morning for east cost.
does this work for everyone?

Well that's not night time for west coast for sure.

16-17gmt would be better :)
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 11:32:39 pm
Official SuperNET NXT addr: NXT-MRBN-8DFH-PFMK-A4DBM
Official SuperNET TOKEN asset: 15641806960898178066
Beware of any SuperNET related asset issued by any other account

The starting price will be 0.0095 BTC converted to NXT price using slow moving average, over two weeks this will increase to 0.010925 BTC per TOKEN. There are plenty of TOKEN for everyone, so if there is no inventory left, just put in a bid. I will restock on at least a daily basis, probably much more frequently when I am online. To cover market fluctuations I will probably use up some or most of the 5% discount, so you will probably get the best price from exchange.

do not know date, yet, but the time will probably be around 14:00 GMT

James
Title: Re: SuperNET IPO/Poloniex
Post by: xyzzyx on September 04, 2014, 11:40:19 pm
Why not just 14:00 GMT?

It's day time for Europe, evening for Asia, night time for west cost and morning for east cost.
does this work for everyone?

I'm on US east coast.  Time doesn't matter to me as long as trading opens on a Saturday or Sunday and there is sufficient notification of a few days -- I won't have to be at work.
Title: Re: SuperNET IPO/Poloniex
Post by: sv3n on September 04, 2014, 11:44:41 pm
Why not just 14:00 GMT?

It's day time for Europe, evening for Asia, night time for west cost and morning for east cost.
does this work for everyone?

I'm on US east coast.  Time doesn't matter to me as long as trading opens on a Saturday or Sunday and there is sufficient notification of a few days -- I won't have to be at work.
+1

It's gonna be when it's gonna be, but a heads up it's what's important.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 11:53:56 pm
Any objections to Saturday 14:00 GMT
Title: Re: SuperNET IPO/Poloniex
Post by: sv3n on September 04, 2014, 11:55:31 pm
Perfect for me :D
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 04, 2014, 11:55:46 pm
Does it really matter? Is there any reason people need to get in right at the bell? Won't the day 1 bonus be good for 24 hours?
it goes up every minute by a few satoshis, so no buying panic but if you are sleeping for many hours it is losing the money

Title: Re: SuperNET IPO/Poloniex
Post by: tersagun on September 04, 2014, 11:58:47 pm
Does it really matter? Is there any reason people need to get in right at the bell? Won't the day 1 bonus be good for 24 hours?
it goes up every minute by a few satoshis, so no buying panic but if you are sleeping for many hours it is losing the money

That versus taking the risk that NXT is gonna get soo much value during the period that even with the "slow moving average" calculations it will be better off to enter after few days. :-)

Not that it would mean much.
Title: Re: SuperNET IPO/Poloniex
Post by: xyzzyx on September 05, 2014, 12:03:11 am
For those in the US:

14:00 GMT on Saturday is
10:00am Eastern
7:00am Pacific
4:00am Hawaii
Title: Re: SuperNET IPO/Poloniex
Post by: longzai1988 on September 05, 2014, 12:08:14 am
Any objections to Saturday 14:00 GMT

This coming Saturday or the following one?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 12:18:08 am
Any objections to Saturday 14:00 GMT

This coming Saturday or the following one?
the one in 2 days
Title: Re: SuperNET IPO/Poloniex
Post by: Wakasaki808 on September 05, 2014, 12:22:16 am
Any objections to Saturday 14:00 GMT

This coming Saturday or the following one?
the one in 2 days

woo :) can't wait
Title: Re: SuperNET IPO/Poloniex
Post by: rtrtcrypto on September 05, 2014, 12:45:19 am
 8)
Title: Re: SuperNET IPO/Poloniex
Post by: xyzzyx on September 05, 2014, 12:45:25 am
Let's see if this works this time:

http://gifcountdown.com/atlantic-reykjavik/1410026400/fdfdfd/474747/fdfdfd/333333/ffff00/true/counter.gif

Edit: nope.  (removed image, left link)
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 05, 2014, 12:53:16 am
I object! Make it 16:00 gmt! Thanks :))
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 12:55:03 am
Due to USA regulations, complications arose with Poloniex hosting the ICO. I hope they come out of their communications blackout and are able to participate.

BTER has come to the rescue and has offered to host the ICO without any fees and on an non-exclusive basis in the spirit of UNITY! BTER is extending a hand of friendship to all other exchanges that want to participate. If you are an exchange, contact me for details on how to join.

I am very glad that the SuperNET is bringing together not just the crypto coins, but also the exchanges. It is too bad that USA is making it so difficult for everybody with such matters. However, it is such stifling rules and regulations that will gradually make the rest of the world more prosperous.

The details of the process is as follows:
The price starts at 0.01 BTC and linearly goes to 0.0115 over two weeks (14 * 1440 minutes) so each minute there is a small increase in price. At each minute there will initially be 1000 TOKEN available in each supported currency any unsold will carry over to the next minute, with a cap of 5000 TOKEN. If there is not enough or too much, the 1000 and 5000 amounts will be adjusted, probably no more than a few times a day to adapt to demand.

For non-BTC sales, a conversion rate is calculated using a slow moving average (eg. 24 hours) so somebody would have to be pushing the price for an entire day, just to get a lower effective price for their TOKEN. Clearly not practical. The NXT and BTCD conversion rate is adjust with the 5% bonus and the TOKEN is made available just like for BTC.

In the event fiat denominated TOKEN is available, the conversion process is used like described in the previous paragraph, but without any 5% bonus.

On the 14th day to the 26th day, a test is made to see if 3% of the total has been raised that day. If not the process stops 2 days later. 28 days is the max duration.

At this point I will purchase TOKEN at the 0.0115 BTC price using the my core assets and any other InstantDEX that is made available using the coinmarketcap price - 1/2 of the 24hr change. this is an easy to calculate average of the current price and 24hrs ago. The asset prices are more stable so using a reasonable market price average and as balanced of set of assets, but not exceeding 10% of TOKEN, I get my TOKEN. All excess TOKEN will be burned at this point, though it doesnt really matter as TOKEN is only good for a 1:1 swap with SuperNET asset. I am not sure if the exchange fee is coming when the donation is made or whether I am doing it at this point by issuing some SuperNET to cover the trade commissions. Each exchange will have their own fee, typically 0.0% to 0.2%

Now I can issue a matching number of SuperNET asset with 4 decimals and it is exchanged for the TOKEN on a 1:1 basis.

And the trading begins

you can see some demo version here
https://bter.com/trade/token_btc
https://bter.com/trade/token_nxt
https://bter.com/trade/token_btcd
https://bter.com/trade/token_cny

NXT AE Official SuperNET NXT addr: NXT-MRBN-8DFH-PFMK-A4DBM
Official SuperNET TOKEN asset: 15641806960898178066
Title: Re: SuperNET IPO/Poloniex
Post by: xyzzyx on September 05, 2014, 01:07:19 am
I love Bter.
Title: Re: SuperNET IPO/Poloniex
Post by: _mr_e on September 05, 2014, 01:28:34 am
So  you're saying I can buy supernet with my nxt that is stuck on bter due to that ridiculous 1% fee!?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 01:42:08 am
So  you're saying I can buy supernet with my nxt that is stuck on bter due to that ridiculous 1% fee!?
Yes!
Isnt that cool :)
You are welcome

James
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 01:43:18 am
So  you're saying I can buy supernet with my nxt that is stuck on bter due to that ridiculous 1% fee!?
And the are doing the TOKEN sales for 0.00% fee!
True spirit of UNITY and friendship
Title: Re: SuperNET IPO/Poloniex
Post by: _mr_e on September 05, 2014, 01:50:43 am
Well this just keeps getting better and better:D
Title: Re: SuperNET IPO/Poloniex
Post by: TwinWinNerD on September 05, 2014, 02:06:44 am
Wow very nice!

THank james and bter
Title: Re: SuperNET IPO/Poloniex
Post by: TheCryptoWoman on September 05, 2014, 02:35:36 am
Countdown on http://www.nxtcommunity.org
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 03:08:29 am
Countdown on http://www.nxtcommunity.org
looks great!
could you put some links to thesupernet.org and then when it is live to BTER?
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 05, 2014, 03:28:52 am
Countdown on http://www.nxtcommunity.org
looks great!
could you put some links to thesupernet.org and then when it is live to BTER?

I'm going to be buying with BTC, because I believe that NXT and BTCD will increase in value over this IPO, making BTC the cheapest buy, despite the discounts. My 2 cents.
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 03:37:26 am
Countdown on http://www.nxtcommunity.org
looks great!
could you put some links to thesupernet.org and then when it is live to BTER?

I'm going to be buying with BTC, because I believe that NXT and BTCD will increase in value over this IPO, making BTC the cheapest buy, despite the discounts. My 2 cents.
a balanced selection has no obvious choice
Title: Re: SuperNET IPO/Poloniex
Post by: jefdiesel on September 05, 2014, 04:05:27 am
Countdown on http://www.nxtcommunity.org
looks great!
could you put some links to thesupernet.org and then when it is live to BTER?

I'm going to be buying with BTC, because I believe that NXT and BTCD will increase in value over this IPO, making BTC the cheapest buy, despite the discounts. My 2 cents.
a balanced selection has no obvious choice
+1 and shared sentiments Windjc
Title: Re: SuperNET IPO/Poloniex
Post by: Nexxie on September 05, 2014, 05:19:42 am
Due to USA regulations, complications arose with Poloniex hosting the ICO. I hope they come out of their communications blackout and are able to participate.

BTER has come to the rescue and has offered to host the ICO without any fees and on an non-exclusive basis in the spirit of UNITY! BTER is extending a hand of friendship to all other exchanges that want to participate. If you are an exchange, contact me for details on how to join.

I am very glad that the SuperNET is bringing together not just the crypto coins, but also the exchanges. It is too bad that USA is making it so difficult for everybody with such matters. However, it is such stifling rules and regulations that will gradually make the rest of the world more prosperous.

The details of the process is as follows:
The price starts at 0.01 BTC and linearly goes to 0.0115 over two weeks (14 * 1440 minutes) so each minute there is a small increase in price. At each minute there will initially be 1000 TOKEN available in each supported currency any unsold will carry over to the next minute, with a cap of 5000 TOKEN. If there is not enough or too much, the 1000 and 5000 amounts will be adjusted, probably no more than a few times a day to adapt to demand.

For non-BTC sales, a conversion rate is calculated using a slow moving average (eg. 24 hours) so somebody would have to be pushing the price for an entire day, just to get a lower effective price for their TOKEN. Clearly not practical. The NXT and BTCD conversion rate is adjust with the 5% bonus and the TOKEN is made available just like for BTC.

In the event fiat denominated TOKEN is available, the conversion process is used like described in the previous paragraph, but without any 5% bonus.

On the 14th day to the 26th day, a test is made to see if 3% of the total has been raised that day. If not the process stops 2 days later. 28 days is the max duration.

At this point I will purchase TOKEN at the 0.0115 BTC price using the my core assets and any other InstantDEX that is made available using the coinmarketcap price - 1/2 of the 24hr change. this is an easy to calculate average of the current price and 24hrs ago. The asset prices are more stable so using a reasonable market price average and as balanced of set of assets, but not exceeding 10% of TOKEN, I get my TOKEN. All excess TOKEN will be burned at this point, though it doesnt really matter as TOKEN is only good for a 1:1 swap with SuperNET asset. I am not sure if the exchange fee is coming when the donation is made or whether I am doing it at this point by issuing some SuperNET to cover the trade commissions. Each exchange will have their own fee, typically 0.0% to 0.2%

Now I can issue a matching number of SuperNET asset with 4 decimals and it is exchanged for the TOKEN on a 1:1 basis.

And the trading begins

you can see some demo version here
https://bter.com/trade/token_btc
https://bter.com/trade/token_nxt
https://bter.com/trade/token_btcd
https://bter.com/trade/token_cny

NXT AE Official SuperNET NXT addr: NXT-MRBN-8DFH-PFMK-A4DBM
Official SuperNET TOKEN asset: 15641806960898178066

So the token can be purchased directly through the 1.2.8 client also if I am not mistakenly?
Very excited!
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 05:31:28 am
Due to USA regulations, complications arose with Poloniex hosting the ICO. I hope they come out of their communications blackout and are able to participate.

BTER has come to the rescue and has offered to host the ICO without any fees and on an non-exclusive basis in the spirit of UNITY! BTER is extending a hand of friendship to all other exchanges that want to participate. If you are an exchange, contact me for details on how to join.

I am very glad that the SuperNET is bringing together not just the crypto coins, but also the exchanges. It is too bad that USA is making it so difficult for everybody with such matters. However, it is such stifling rules and regulations that will gradually make the rest of the world more prosperous.

The details of the process is as follows:
The price starts at 0.01 BTC and linearly goes to 0.0115 over two weeks (14 * 1440 minutes) so each minute there is a small increase in price. At each minute there will initially be 1000 TOKEN available in each supported currency any unsold will carry over to the next minute, with a cap of 5000 TOKEN. If there is not enough or too much, the 1000 and 5000 amounts will be adjusted, probably no more than a few times a day to adapt to demand.

For non-BTC sales, a conversion rate is calculated using a slow moving average (eg. 24 hours) so somebody would have to be pushing the price for an entire day, just to get a lower effective price for their TOKEN. Clearly not practical. The NXT and BTCD conversion rate is adjust with the 5% bonus and the TOKEN is made available just like for BTC.

In the event fiat denominated TOKEN is available, the conversion process is used like described in the previous paragraph, but without any 5% bonus.

On the 14th day to the 26th day, a test is made to see if 3% of the total has been raised that day. If not the process stops 2 days later. 28 days is the max duration.

At this point I will purchase TOKEN at the 0.0115 BTC price using the my core assets and any other InstantDEX that is made available using the coinmarketcap price - 1/2 of the 24hr change. this is an easy to calculate average of the current price and 24hrs ago. The asset prices are more stable so using a reasonable market price average and as balanced of set of assets, but not exceeding 10% of TOKEN, I get my TOKEN. All excess TOKEN will be burned at this point, though it doesnt really matter as TOKEN is only good for a 1:1 swap with SuperNET asset. I am not sure if the exchange fee is coming when the donation is made or whether I am doing it at this point by issuing some SuperNET to cover the trade commissions. Each exchange will have their own fee, typically 0.0% to 0.2%

Now I can issue a matching number of SuperNET asset with 4 decimals and it is exchanged for the TOKEN on a 1:1 basis.

And the trading begins

you can see some demo version here
https://bter.com/trade/token_btc
https://bter.com/trade/token_nxt
https://bter.com/trade/token_btcd
https://bter.com/trade/token_cny

NXT AE Official SuperNET NXT addr: NXT-MRBN-8DFH-PFMK-A4DBM
Official SuperNET TOKEN asset: 15641806960898178066

So the token can be purchased directly through the 1.2.8 client also if I am not mistakenly?
Very excited!
any client that works with AE, yes
though the best price would probably be from BTER as I am too lazy to manually change them throughout the day, I would probably just put a 3% higher price for the whole day. Not sure, depends on how things go.

James

P.S. Polo was forced to not do this by you know who
Title: Re: SuperNET IPO/Poloniex
Post by: Abraxas 147 on September 05, 2014, 06:28:41 am
Will it be possible to transfer the TOKEN shares from BTER to the NXT AE right after purchase? Would not like them to long at BTER  8)
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 05, 2014, 07:10:01 am
Will it be possible to transfer the TOKEN shares from BTER to the NXT AE right after purchase? Would not like them to long at BTER  8)

(https://dl.dropboxusercontent.com/u/53047281/kitten-thief.jpg)
Title: Re: SuperNET IPO/Poloniex
Post by: tersagun on September 05, 2014, 07:12:51 am


P.S. Polo was forced to not do this by you know who


...by some Mr X..?
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 05, 2014, 07:25:26 am


P.S. Polo was forced to not do this by you know who


...by some Mr X..?

(https://dl.dropboxusercontent.com/u/53047281/no-snot-kittens.jpg)
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 07:31:50 am
Countdown on http://www.nxtcommunity.org
people are saying it is off by an hour
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 07:33:18 am
Will it be possible to transfer the TOKEN shares from BTER to the NXT AE right after purchase? Would not like them to long at BTER  8)
not until they are exchaged for the SuperNET asset
once that happens, then just like the other assets they are having, you just withdraw it
so if you waited until the last 2 days, then it would only be there for 2 days
Title: Re: SuperNET IPO/Poloniex
Post by: Windjc on September 05, 2014, 07:37:20 am
Will it be possible to transfer the TOKEN shares from BTER to the NXT AE right after purchase? Would not like them to long at BTER  8)
not until they are exchaged for the SuperNET asset
once that happens, then just like the other assets they are having, you just withdraw it
so if you waited until the last 2 days, then it would only be there for 2 days

If the asset is bought directly on the Asset exchange will you be able to own it and trade it immediately? Or is it frozen until end of ICO?
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 05, 2014, 07:37:41 am
Countdown on http://www.nxtcommunity.org
people are saying it is off by an hour

@ 08:35 in UK countdown reads 1 day:05 hours:25 mins

08:35 + 25mins = 9am today
9am +5 hours = 2pm today
2pm + 1 day = 2pm tomorrow

Is that right?
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 07:40:44 am
Will it be possible to transfer the TOKEN shares from BTER to the NXT AE right after purchase? Would not like them to long at BTER  8)
not until they are exchaged for the SuperNET asset
once that happens, then just like the other assets they are having, you just withdraw it
so if you waited until the last 2 days, then it would only be there for 2 days

If the asset is bought directly on the Asset exchange will you be able to own it and trade it immediately? Or is it frozen until end of ICO?
Nobody can stop the trading, but if there is always the ICO price there, it would not make sense for people to trade, unless they changed their mind and want to return the TOKEN
I guess if I dont keep the inventory always there, then if it sells out and somebody is not checking the prices, they could end up paying a lot more than they should
let us all try to be gentlemen and not do such things.
I know nobody can stop this, but if there are such type of things, I just might put a giant sell wall at the max price and not do the regular updates.
Title: Re: SuperNET IPO/Poloniex
Post by: Fatih87SK on September 05, 2014, 07:41:26 am
Countdown on http://www.nxtcommunity.org
people are saying it is off by an hour

@ 08:35 in UK countdown reads 1 day:05 hours:25 mins

08:35 + 25mins = 9am today
9am +5 hours = 2pm today
2pm + 1 day = 2pm tomorrow

Is that right?

@09:41 - Amsterdam

1 day and 5 hours
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 07:42:24 am
Countdown on http://www.nxtcommunity.org
people are saying it is off by an hour

@ 08:35 in UK countdown reads 1 day:05 hours:25 mins

08:35 + 25mins = 9am today
9am +5 hours = 2pm today
2pm + 1 day = 2pm tomorrow

Is that right?
i dont have a watch, i avoid a lot of stress by ignoring time
plz figure out when the 1400 GMT is and make sure the clock is right
thanks!
Title: Re: SuperNET IPO/Poloniex
Post by: devphp on September 05, 2014, 07:45:59 am
Saturday 14:00 GMT is exactly 30 hr 14 min from now.

Use http://wwp.greenwichmeantime.com/
Title: Re: SuperNET IPO/Poloniex
Post by: chanc3r on September 05, 2014, 07:46:28 am
Countdown on http://www.nxtcommunity.org
people are saying it is off by an hour

@ 08:35 in UK countdown reads 1 day:05 hours:25 mins

08:35 + 25mins = 9am today
9am +5 hours = 2pm today
2pm + 1 day = 2pm tomorrow

Is that right?
i dont have a watch, i avoid a lot of stress by ignoring time
plz figure out when the 1400 GMT is and make sure the clock is right
thanks!

So this is 1400 BST (British Summer Time) as we are currently in summertime.
1400 GMT = 1400 UTC = 1500 BST

This may be why US / Chinese members think its an hour out if they were proposing a time based on 1400 GMT because it is counting down ONE HOUR TOO SOON currently it will reach ZERO @ 1300 GMT
Title: Re: SuperNET IPO/Poloniex
Post by: jl777 on September 05, 2014, 08:01:56 am
Will it be possible to transfer the TOKEN shares from BTER to the NXT AE right after purchase? Would not like them to long at BTER  8)
not until they are exchaged for the SuperNET asset
once that happens, then just like the other assets they are having, you just withdraw it
so if you waited until the last 2 days, then it would only be there for 2 days

If the asset is bought directly on the Asset exchange will you be able to own it and trade it immediately? Or is it frozen until end of ICO?
you do own it and can transfer it, but dont transfer to exchange acct and the dividend will go into limbo
if you get it on AE, keep it on AE
then we have a grand experiment and see what price the collectors item TOKEN will be trading at after it is all used up
Title: Re: SuperNET IPO/Poloniex
Post by: LocoMB on September 05, 2014, 08:38:45 am

not surprisingly, there already ARE buy orders for the asset on the AE.

So how does the process go?

At 14:00 GMT the account  NXT-MRBN-8DFH-PFMK-A4DBM will issue SELL orders for the asset? At what price?
Title: Re: SuperNET IPO/Poloniex
Post by: tersagun on September 05, 2014, 09:04:50 am

not surprisingly, there already ARE buy orders for the asset on the AE.

So how does the process go?

At 14:00 GMT the account  NXT-MRBN-8DFH-PFMK-A4DBM will issue SELL orders for the asset? At what price?

That is SuperNET, not the token which we are all gonna buy. This is the asset we are going to receive at the end of the ICO period. No official sales will be done on that asset.
Title: Re: SuperNET IPO/Poloniex
Post by: TheCryptoWoman on September 05, 2014, 09:30:28 am
Countdown on http://www.nxtcommunity.org
people are saying it is off by an hour

@ 08:35 in UK countdown reads 1 day:05 hours:25 mins

08:35 + 25mins = 9am today
9am +5 hours = 2pm today
2pm + 1 day = 2pm tomorrow

Is that right?
i dont have a watch, i avoid a lot of stress by ignoring time
plz figure out when the 1400 GMT is and make sure the clock is right
thanks!

So this is 1400 BST (British Summer Time) as we are currently in summertime.
1400 GMT = 1400 UTC = 1500 BST

This may be why US / Chinese members think its an hour out if they were proposing a time based on 1400 GMT because it is counting down ONE HOUR TOO SOON currently it will reach ZERO @ 1300 GMT

Sorry, I was sleeping during this conversation. I've made the adjustment and added one hour. My mistake was to check a website and adjust for EST time.
Title: Re: SuperNET TOKEN from BTER
Post by: Abraxas 147 on September 05, 2014, 10:26:35 am
Quote
Quote from: l8orre on Today at 08:38:45 am


    not surprisingly, there already ARE buy orders for the asset on the AE.

    So how does the process go?

    At 14:00 GMT the account  NXT-MRBN-8DFH-PFMK-A4DBM will issue SELL orders for the asset? At what price?


That is SuperNET, not the token which we are all gonna buy. This is the asset we are going to receive at the end of the ICO period. No official sales will be done on that asset.

James, can you clarify this? I thought that the Asset on NXT AE (15641806960898178066) is also TOKEN which will be swaped after the ICO...?
Title: Re: SuperNET TOKEN from BTER
Post by: allwelder on September 05, 2014, 10:36:25 am
BUY!BUY!BUY! ;D
Title: Re: SuperNET IPO/Poloniex
Post by: allwelder on September 05, 2014, 10:38:45 am
Countdown on http://www.nxtcommunity.org
Great.
Shared with weibo (http://weibo.com/nxtcoin).
Title: Re: SuperNET TOKEN from BTER
Post by: bidji29 on September 05, 2014, 11:20:05 am
Here's a text than can help understand SuperNET


Here is my take on the SuperNet:

SuperNet is similar to an ETF.  ETF stands for Exchange Traded Funds.  ETFs are hedge funds that invest in commodities, like gold and silver, stock them in a warehouse, and sell shares on the inventory.  As the price of the commodity goes up and down, the share price rises and falls.  Additional shares are sometimes created, and the funds used to purchase more physical inventory.  Some ETFs invest in certain stocks, like airline stocks or railroad stocks.  The book value of the ETF usually reflects the divided interest in the inventory.  100million shares for $500million inventory, results in $5 per share book value.  The trading price will usually closely follow the book price.

ETFs are useful for traders that want to diversify their holdings, but do not have the time/expertise to watch the market hourly.

ETFs are also useful for traders that dont want to hold physical commodities, such as gold and silver.

Now the bad parts:

Investing in an ETF also surrenders control of the commodity to a third party.  There is no guarantee that the commodity exists, or is not hypothecated to a fourth and fifth party.  This happened in China a few weeks ago when it was discovered that hundreds of tons of gold and copper owned by a ETF did not exist.  Investors in a ETF have only a call on the ETF shares, and not on the underlying commodity.  Which brings us to the old adage:  If you can't kiss it, you dont own it.


ETFs usually control a large part of a commodity market, and when they sell or buy, they can swing the price dramatically.  Also, if there is a dump of the ETF shares, it also effects the price of the underlying commodities.

The pooled nature of the inventory tends to boost the weak commodities, at the expense of the strong commodities.

ETFs also charge MANAGEMENT FEES.  This is how they make their money.  The fees are paid by a reduction in the inventory of the backing commodity.  So every Quarter, there will be 1% or so less inventory for the same number of shares, reducing the street value and thus the trading price.


So what is the purpose of SuperNet?   

Follow the Money and you will figure it out.



"The pooled nature of the inventory tends to boost the weak commodities, at the expense of the strong commodities." Is it really a good things for NXT?..

Title: Re: SuperNET TOKEN from BTER
Post by: rtrtcrypto on September 05, 2014, 11:37:21 am
*retracted*
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 11:52:26 am
A French article about SuperNET on nxter.org : http://nxter.org/fr/supernet-resume-et-explications/

I'm the writer. It's a full explanation about the IPO, jl777 and SuperNET.
Title: Re: SuperNET TOKEN from BTER
Post by: bidji29 on September 05, 2014, 12:02:25 pm
A French article about SuperNET on nxter.org : http://nxter.org/fr/supernet-resume-et-explications/

I'm the writer. It's a full explanation about the IPO, jl777 and SuperNET.

Très intéressant, merci
Title: Re: SuperNET TOKEN from BTER
Post by: rdanneskjoldr on September 05, 2014, 12:08:48 pm
Sorry if it has been already answered, i think i read it somewhere but i find many things a bit confusing.

1 nxt invested in supernet on the first day, is as valuable as 1 nxt invested the last day? Without counting bonuses.
The ratio of totals bitcoin/nxt/btcd  invested in supernet will be calculated the last day at its current value i guess.

I heard some people commenting it could be more profitable to invest in btc as nxt will probably go up in value these weeks, and i dont understand why.
Title: Re: SuperNET TOKEN from BTER
Post by: gck on September 05, 2014, 12:12:23 pm
How many units of SuperNET will there be issued in total?  Unless I missed it, I did not see this mentioned anywhere specifically.
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 05, 2014, 12:15:10 pm
Sorry if it has been already answered, i think i read it somewhere but i find many things a bit confusing.

1 nxt invested in supernet on the first day, is as valuable as 1 nxt invested the last day? Without counting bonuses.
The ratio of totals bitcoin/nxt/btcd  invested in supernet will be calculated the last day at its current value i guess.

I heard some people commenting it could be more profitable to invest in btc as nxt will probably go up in value these weeks, and i dont understand why.

Nxt and BTCD get a 5% bonus through the entire ICO.
On the first day everyone gets a 15% discount, so with Nxt or BTCD you would save 20%.
The discount decreases the longer the ICO goes on.

I've heard the last point too, but that doesn't make any sense ... if you're going to invest anyway, why invest with BTC when you can convert it to Nxt or BTCD and get the extra 5% on that day.
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 12:17:47 pm
First they sell, TOKEN. No real limit of the TOKEN (the total of TOKEN = 600k BTC)
And then, they release the same number of SuperNET as the sold TOKEN.
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 12:20:45 pm
Sorry if it has been already answered, i think i read it somewhere but i find many things a bit confusing.

1 nxt invested in supernet on the first day, is as valuable as 1 nxt invested the last day? Without counting bonuses.
The ratio of totals bitcoin/nxt/btcd  invested in supernet will be calculated the last day at its current value i guess.

I heard some people commenting it could be more profitable to invest in btc as nxt will probably go up in value these weeks, and i dont understand why.

Nxt and BTCD get a 5% bonus through the entire ICO.
On the first day everyone gets a 15% discount, so with Nxt or BTCD you would save 20%.
The discount decreases the longer the ICO goes on.

I've heard the last point too, but that doesn't make any sense ... if you're going to invest anyway, why invest with BTC when you can convert it to Nxt or BTCD and get the extra 5% on that day.

It's in the case of NXT or BTCD skyrocket too much. If NXT take 10% in one hour on the market, the price of NXT in the IPO is the price in 24 hours.

The BTCD and NXT are limited to 5% per 24 hours. So sad... ;)
Title: Re: SuperNET TOKEN from BTER
Post by: _mr_e on September 05, 2014, 12:29:46 pm
Sorry if it has been already answered, i think i read it somewhere but i find many things a bit confusing.

1 nxt invested in supernet on the first day, is as valuable as 1 nxt invested the last day? Without counting bonuses.
The ratio of totals bitcoin/nxt/btcd  invested in supernet will be calculated the last day at its current value i guess.

I heard some people commenting it could be more profitable to invest in btc as nxt will probably go up in value these weeks, and i dont understand why.

Nxt and BTCD get a 5% bonus through the entire ICO.
On the first day everyone gets a 15% discount, so with Nxt or BTCD you would save 20%.
The discount decreases the longer the ICO goes on.

I've heard the last point too, but that doesn't make any sense ... if you're going to invest anyway, why invest with BTC when you can convert it to Nxt or BTCD and get the extra 5% on that day.

It's in the case of NXT or BTCD skyrocket too much. If NXT take 10% in one hour on the market, the price of NXT in the IPO is the price in 24 hours.

The BTCD and NXT are limited to 5% per 24 hours. So sad... ;)

I would argue that this is a good thing. I believe the spirit of this bonus is to reward holders of these coins, not just get people to first buy nxt just to buy supernet. Those of us who bought below 0.00006 are not only enjoying a nice price increase today but the 5% discount as well.
Title: Re: SuperNET TOKEN from BTER
Post by: tersagun on September 05, 2014, 12:40:06 pm
But this is also a valid scenario:

You're a NXT staker.
NXt continues with it's slow but steady rise. You consider buying SuperNET with NXT to get the bonus. But because NXT price keeps going higher, you would be better of waiting for tomorrow..and tomorrow..and tomorow until last day.

Title: Re: SuperNET TOKEN from BTER
Post by: _mr_e on September 05, 2014, 12:42:06 pm
Well then you're still rich so who cares:p but none of us are fortune tellers are we?
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 12:44:37 pm
Yes it's a valid scenario. But the rise of NXT is 5% per day. In 14 days, the price of NXT'll double.

I think the value of NXT with SuperNET is undervalued. When the price is double as now, it wouldn't be overvalued and don't have a big correction.

I think it's a good ratio.
Title: Re: SuperNET TOKEN from BTER
Post by: tersagun on September 05, 2014, 12:48:45 pm
Well then you're still rich so who cares:p but none of us are fortune tellers are we?

I guess the real motivation behind the 5% bonus was to boost BTCD&NXT, not exactly for the purpose to help buyers with BTCD&NXT.
This way, expecially NXT, has reached a broader community and it's been a great marketing move. People outside the NXT ecosystem are boosting the NXT price right now just to get more SuperNXT which helps NXT stakers, regardless if they care about SuperNET or not.

Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 05, 2014, 01:43:27 pm
Yes it's a valid scenario. But the rise of NXT is 5% per day. In 14 days, the price of NXT'll double.

I think the value of NXT with SuperNET is undervalued. When the price is double as now, it wouldn't be overvalued and don't have a big correction.

I think it's a good ratio.

This seems to be the consensus.
But what about the people who buy NXT but don't care about SuperNET? Just regular traders - many of whom jump on a bandwagon, wait for one wiggly line on a chart to cross another, or let a bot do it for them? 14 days of consistent rises are surely going to attract their attention.
I can't work out whether they will spike NXT price, or whether the SuperNET purchases will drag them back down to the moving average. If the former, it would make sense for some whales to put up large walls on the exchanges. That will create some stability, let them cash out at a good price and improve the distribution problem we keep hearing so much about.
Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 05, 2014, 01:49:48 pm
this NXT rise and greater attention are the base purposes of SuperNet.

Concentrate attention, drive traffic, increase demand.
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 02:00:31 pm
Yes it's a valid scenario. But the rise of NXT is 5% per day. In 14 days, the price of NXT'll double.

I think the value of NXT with SuperNET is undervalued. When the price is double as now, it wouldn't be overvalued and don't have a big correction.

I think it's a good ratio.

This seems to be the consensus.
But what about the people who buy NXT but don't care about SuperNET? Just regular traders - many of whom jump on a bandwagon, wait for one wiggly line on a chart to cross another, or let a bot do it for them? 14 days of consistent rises are surely going to attract their attention.
I can't work out whether they will spike NXT price, or whether the SuperNET purchases will drag them back down to the moving average. If the former, it would make sense for some whales to put up large walls on the exchanges. That will create some stability, let them cash out at a good price and improve the distribution problem we keep hearing so much about.

If it's going up quicker as 5% per day, if you want to invest in SuperNET, you can sell your NXT and invest with BTC.

If nobody invest in SuperNET, who care about this 5% bonus ?

In my mind, it's clear during the SuperNET ipo and if the SuperNET ipo is a success (and if the inverstor understand what is the best way to invest) : NXT and BTCD will grow of 5% in comparison of BTC. Not more, not less
Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 05, 2014, 02:15:18 pm
Yes it's a valid scenario. But the rise of NXT is 5% per day. In 14 days, the price of NXT'll double.

I think the value of NXT with SuperNET is undervalued. When the price is double as now, it wouldn't be overvalued and don't have a big correction.

I think it's a good ratio.

This seems to be the consensus.
But what about the people who buy NXT but don't care about SuperNET? Just regular traders - many of whom jump on a bandwagon, wait for one wiggly line on a chart to cross another, or let a bot do it for them? 14 days of consistent rises are surely going to attract their attention.
I can't work out whether they will spike NXT price, or whether the SuperNET purchases will drag them back down to the moving average. If the former, it would make sense for some whales to put up large walls on the exchanges. That will create some stability, let them cash out at a good price and improve the distribution problem we keep hearing so much about.

If it's going up quicker as 5% per day, if you want to invest in SuperNET, you can sell your NXT and invest with BTC.

If nobody invest in SuperNET, who care about this 5% bonus ?

In my mind, it's clear during the SuperNET ipo and if the SuperNET ipo is a success (and if the inverstor understand what is the best way to invest) : NXT and BTCD will grow of 5% in comparison of BTC. Not more, not less

agreed. NXT only has to rise 1.1% a day against BTC to make that scenario work. Of course a 10% dip would wipe it all out, but thats out of our control anyways.
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 05, 2014, 02:16:30 pm
Then the price will quadruple in a month and it makes sense to buy on the last day.
Title: Re: SuperNET TOKEN from BTER
Post by: tersagun on September 05, 2014, 02:35:11 pm
Yes it's a valid scenario. But the rise of NXT is 5% per day. In 14 days, the price of NXT'll double.

I think the value of NXT with SuperNET is undervalued. When the price is double as now, it wouldn't be overvalued and don't have a big correction.

I think it's a good ratio.

This seems to be the consensus.
But what about the people who buy NXT but don't care about SuperNET? Just regular traders - many of whom jump on a bandwagon, wait for one wiggly line on a chart to cross another, or let a bot do it for them? 14 days of consistent rises are surely going to attract their attention.
I can't work out whether they will spike NXT price, or whether the SuperNET purchases will drag them back down to the moving average. If the former, it would make sense for some whales to put up large walls on the exchanges. That will create some stability, let them cash out at a good price and improve the distribution problem we keep hearing so much about.

If it's going up quicker as 5% per day, if you want to invest in SuperNET, you can sell your NXT and invest with BTC.

If nobody invest in SuperNET, who care about this 5% bonus ?

In my mind, it's clear during the SuperNET ipo and if the SuperNET ipo is a success (and if the inverstor understand what is the best way to invest) : NXT and BTCD will grow of 5% in comparison of BTC. Not more, not less

Hello ludom,

Care to explain the logic behind it? Why selling NXT and buying supernet with BTC if nxt keeps going up?
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 05, 2014, 02:46:20 pm

Hello ludom,

Care to explain the logic behind it? Why selling NXT and buying supernet with BTC if nxt keeps going up?

I'm not Ludom but...
if NXT rises more than 5% per day, you don't get the benefit against SuperNET, since it's based on a 24-hour average NXT price. So it makes more sense to sell your NXT against BTC and invest with that. This will drag the overall NXT price down.
Thus SuperNET will have an anchoring effect around 5% per day.
Of course, once people figure this out, it will alter the effect. I don't know game theory well enough to know what will happen.
Title: Re: SuperNET TOKEN from BTER
Post by: rdanneskjoldr on September 05, 2014, 02:48:24 pm
With a limited supply of tokens per minute, wont people try to bid above fixed price to take priority??

Will the seller regret these offers and only sell at the prefixed price? Does bter autofill orders with higher bids?? If not instead an IPO it will turn into an auction with price climbing.

Dont you think such a complex system will scare possible new users?? Isnt this leading to a speculative IPO, which you wanted to avoid??
Title: Re: SuperNET TOKEN from BTER
Post by: crumb-bum on September 05, 2014, 03:03:56 pm
Is there an advantage to buying supernet on bitr vs. the NXT AE?

Thanks!
Title: Re: SuperNET TOKEN from BTER
Post by: superresistant on September 05, 2014, 03:07:17 pm
Is there an advantage to buying supernet on bitr vs. the NXT AE?
Thanks!

Well, you'll see.
Title: Re: SuperNET TOKEN from BTER
Post by: crumb-bum on September 05, 2014, 03:14:16 pm
Right, let me put that another way:

Do we get the same 20% discount on the AE and bitr (buying with NXT)?
Will we be able to buy as soon after the launch of supernet on the AE and bitr?

Thanks.
Title: Re: SuperNET TOKEN from BTER
Post by: tersagun on September 05, 2014, 03:19:00 pm

Hello ludom,

Care to explain the logic behind it? Why selling NXT and buying supernet with BTC if nxt keeps going up?

I'm not Ludom but...
if NXT rises more than 5% per day, you don't get the benefit against SuperNET, since it's based on a 24-hour average NXT price. So it makes more sense to sell your NXT against BTC and invest with that. This will drag the overall NXT price down.
Thus SuperNET will have an anchoring effect around 5% per day.
Of course, once people figure this out, it will alter the effect. I don't know game theory well enough to know what will happen.

Ah, now I see it, thanks.
Though if Nxt raises more then 5% a day, its wiser to just keep waiting until last day. Whether you'll invest with BTC or Nxt.

I'm really curious how it will turn around and what would come up as the most profitable scenario.
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 03:23:56 pm
Where do you see that is possible to buy on the AE ?
Title: Re: SuperNET TOKEN from BTER
Post by: Stadtfeger on September 05, 2014, 03:24:17 pm
must i sell my nxt on bter to become BTC for  SuperNet or can i buy it for the same price on the Nxt AE?
at which time i can buy on the AE and what is the price for one TOKEN ?
Title: Re: SuperNET TOKEN from BTER
Post by: Stadtfeger on September 05, 2014, 03:24:56 pm
Where do you see that is possible to buy on the AE ?

Asset ID : 15641806960898178066
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 03:26:56 pm
The TOKEN is an asset ok, but the distribution don't will be on the Asset Exchange.

It will be on Bter. Some of the buyers can withdrawal them on Nxt and sell it on the AE. But it's not direct buy.
Title: Re: SuperNET TOKEN from BTER
Post by: crumb-bum on September 05, 2014, 03:27:42 pm
Official SuperNET TOKEN asset: 15641806960898178066

from

http://www.jl777.org/supernet-token-available-at-bter-this-saturday-at-1400-gmt/
Title: Re: SuperNET TOKEN from BTER
Post by: Stadtfeger on September 05, 2014, 03:28:13 pm
The TOKEN is an asset ok, but the distribution don't will be on the Asset Exchange.

It will be on Bter. Some of the buyers can withdrawal them on Nxt and sell it on the AE. But it's direct buy.

OK than i must wait i don´t sell Nxt for this. Thanks.
Title: Re: SuperNET TOKEN from BTER
Post by: valarmg on September 05, 2014, 03:35:56 pm
The TOKEN is an asset ok, but the distribution don't will be on the Asset Exchange.

It will be on Bter. Some of the buyers can withdrawal them on Nxt and sell it on the AE. But it's not direct buy.

I don't think this is true. IPO is on both bter and Nxt AE. If you buy Token, you are buying into the IPO and you'll receive the corresponding amount of the SuperNet Asset at the end of the IPO.
Title: Re: SuperNET TOKEN from BTER
Post by: LocoMB on September 05, 2014, 03:38:10 pm
The TOKEN is an asset ok, but the distribution don't will be on the Asset Exchange.

It will be on Bter. Some of the buyers can withdrawal them on Nxt and sell it on the AE. But it's not direct buy.

are you really sure it will be on BTer ONLY? So far I have understood that it is a two step process, but it looks to me as if there will be option to go in on NXT AE in the first phase also.
Can you clarify?
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 05, 2014, 03:39:11 pm
The TOKEN is an asset ok, but the distribution don't will be on the Asset Exchange.

It will be on Bter. Some of the buyers can withdrawal them on Nxt and sell it on the AE. But it's not direct buy.

I don't think this is true. IPO is on both bter and Nxt AE. If you buy Token, you are buying into the IPO and you'll receive the corresponding amount of the SuperNet Asset at the end of the IPO.

+1

you can't transfer the TOKEN from bter onto the AE. If you buy the Token on bter you can redeem it for the superNET / UNITY asset at the end of the ICO.
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 05, 2014, 03:39:50 pm
The TOKEN is an asset ok, but the distribution don't will be on the Asset Exchange.

It will be on Bter. Some of the buyers can withdrawal them on Nxt and sell it on the AE. But it's not direct buy.

are you really sure it will be on BTer ONLY? So far I have understood that it is a two step process, but it looks to me as if there will be option to go in on NXT AE in the first phase also.
Can you clarify?

Yes appearently you can also get Tokens on the AE from jl777

but they are not interchangable between AE and bter.
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 03:41:43 pm
I don't know where you see all this informations.

We need more information about that from James.
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 05, 2014, 03:47:52 pm
I don't know where you see all this informations.

We need more information about that from James.

https://nxtforum.org/general-discussion/supernetwork-ipopoloniex/msg96607/#msg96607

https://nxtforum.org/general-discussion/supernetwork-ipopoloniex/msg96711/#msg96711
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 05, 2014, 03:55:31 pm
I dunt get it.  Does that mean we can forgoe buying on Bter or Polo, and buy the token directly on the NXT AE with the same discounts as on the exchanges?  James?
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 03:58:56 pm
Ok thanks Mexxer. I understand now better. I should correct on my article in french
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 05, 2014, 04:03:51 pm
I dunt get it.  Does that mean we can forgoe buying on Bter or Polo, and buy the token directly on the NXT AE with the same discounts as on the exchanges?  James?

Poloniex doesn't host the ICO anymore.

https://nxtforum.org/general-discussion/supernetwork-ipopoloniex/msg96624/#msg96624

and the price on the AE will be a bit worse than the price on BTER because of market flactuations (see my post above)

Please read what James posts and this thread more carefully people... it's only a couple of pages back.

Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 05, 2014, 04:23:00 pm
For the french :

J'ai mis à jour l'article car j'ai obtenu des précisions sur la levée de fonds (elle se déroule sur bter & sur l'Asset Exchange) :

http://nxter.org/fr/supernet-resume-et-explications/
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 05, 2014, 04:48:05 pm
I dunt get it.  Does that mean we can forgoe buying on Bter or Polo, and buy the token directly on the NXT AE with the same discounts as on the exchanges?  James?

Poloniex doesn't host the ICO anymore.

https://nxtforum.org/general-discussion/supernetwork-ipopoloniex/msg96624/#msg96624

and the price on the AE will be a bit worse than the price on BTER because of market flactuations (see my post above)

Please read what James posts and this thread more carefully people... it's only a couple of pages back.

The post that you reference did not communicate a concrete decision that Polo would not be hosting the ICO.  Only that it's possible that they wouldn't be.
Title: Re: SuperNET TOKEN from BTER
Post by: ThomasVeil on September 05, 2014, 04:54:59 pm
The post that you reference did not communicate a concrete decision that Polo would not be hosting the ICO.  Only that it's possible that they wouldn't be.

https://nxtforum.org/general-discussion/supernetwork-ipopoloniex/msg96688/#msg96688

Such info should be aggregated - reading 23 pages can really not be expected of people.
... though I've heard of some being crazy enough ;)
Title: Re: SuperNET TOKEN from BTER
Post by: valarmg on September 05, 2014, 05:11:26 pm
I dunt get it.  Does that mean we can forgoe buying on Bter or Polo, and buy the token directly on the NXT AE with the same discounts as on the exchanges?  James?

Poloniex doesn't host the ICO anymore.

https://nxtforum.org/general-discussion/supernetwork-ipopoloniex/msg96624/#msg96624

and the price on the AE will be a bit worse than the price on BTER because of market flactuations (see my post above)

Please read what James posts and this thread more carefully people... it's only a couple of pages back.

The post that you reference did not communicate a concrete decision that Polo would not be hosting the ICO.  Only that it's possible that they wouldn't be.

There was this post in the BTT thread: https://bitcointalk.org/index.php?topic=762346.msg8681702#msg8681702
Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 05, 2014, 05:38:46 pm
P.P.S. I think similar to sharkfund0, for those just allergic to any exchange, I can accommodate larger purchases with non-standard crypto on a case by case basis, but without any special bonuses and if it is non-standard crypto, I might even ask for a discount. This will get some diversification to the SuperNET portfolio, and I dont think it will be used that much, just something that is available in those rare cases.

from here
https://bitcointalk.org/index.php?topic=762346.msg8667586#msg8667586
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 05, 2014, 05:52:17 pm
Did three seperate NXT deposits to Bter, only the first needed the public key. Now all deposits have over 40 confirmations according to the blockexplorer, but only the first (test) deposit of 10 NXT shows in the Bter wallet. The other two don't even show under 'pending'. Arrrghh... this reminds me that I hate exchanges.  ::)

(support ticket created)

Anyone else experiencing slow deposits at Bter?
Title: Re: SuperNET TOKEN from BTER
Post by: blackyblack1 on September 05, 2014, 05:54:40 pm
It's so exciting looking the people trading scam supernet tokens:

https://trade.secureae.com/#1827313866316571844
https://trade.secureae.com/#8375321820311990826
Title: Re: SuperNET TOKEN from BTER
Post by: Aesyrin on September 05, 2014, 05:55:30 pm
Did three seperate NXT deposits to Bter, only the first needed the public key. Now all deposits have over 40 confirmations according to the blockexplorer, but only the first (test) deposit of 10 NXT shows in the Bter wallet. The other two don't even show under 'pending'. Arrrghh... this reminds me that I hate exchanges.  ::)

(support ticket created)

Anyone else experiencing slow deposits at Bter?

That always happens to me. I just do the deposit and walk away and check later in the day now - unless I'm in a rush to get it in there, then I check every 5 minutes lol
Title: Re: SuperNET TOKEN from BTER
Post by: MrV777 on September 05, 2014, 06:01:31 pm
It's so exciting looking the people trading scam supernet tokens:

https://trade.secureae.com/#1827313866316571844
https://trade.secureae.com/#8375321820311990826

That sucks, if I'm reading it correctly.  Over 100,000 NXT were used to purchase scam assets between those two...
Title: Re: SuperNET TOKEN from BTER
Post by: gs02xzz on September 05, 2014, 06:03:25 pm
It's so exciting looking the people trading scam supernet tokens:

https://trade.secureae.com/#1827313866316571844
https://trade.secureae.com/#8375321820311990826
That sucks, if I'm reading it correctly.  Over 100,000 NXT were used to purchase scam assets between those two...

That is true. One guy bought 88K of fake asset.
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 05, 2014, 06:03:55 pm
can someone please confirm that I wont have a big disadvantage when buying on the NXT ae, over buying on bter?
Title: Re: SuperNET TOKEN from BTER
Post by: _mr_e on September 05, 2014, 06:07:40 pm
What is wrong with people? The smallest amount of basic research is needed to figure out with 100% certainty what the real asset is.... A fool and his money?
Title: Re: SuperNET TOKEN from BTER
Post by: MrV777 on September 05, 2014, 06:11:54 pm
It's so exciting looking the people trading scam supernet tokens:

https://trade.secureae.com/#1827313866316571844
https://trade.secureae.com/#8375321820311990826
That sucks, if I'm reading it correctly.  Over 100,000 NXT were used to purchase scam assets between those two...

That is true. One guy bought 88K of fake asset.

I wonder if that is a whale that isn't paying attention to the community...
The account that bought 88k still has over 1,000,000 NXT in it and that account was funded from an account that still has over 12,000,000 NXT


Edit:  Following the money, it does seem like its a good chance that was an initial investor
Title: Re: SuperNET TOKEN from BTER
Post by: LocoMB on September 05, 2014, 06:12:15 pm
It's so exciting looking the people trading scam supernet tokens:

https://trade.secureae.com/#1827313866316571844
https://trade.secureae.com/#8375321820311990826
That sucks, if I'm reading it correctly.  Over 100,000 NXT were used to purchase scam assets between those two...

That is true. One guy bought 88K of fake asset.

un-flipping-believable!
Title: Re: SuperNET TOKEN from BTER
Post by: blackyblack1 on September 05, 2014, 06:19:50 pm
can someone please confirm that I wont have a big disadvantage when buying on the NXT ae, over buying on bter?
If you are using fiat or BTC - use bter.
Title: Re: SuperNET TOKEN from BTER
Post by: gs02xzz on September 05, 2014, 06:30:44 pm
That is true. One guy bought 88K of fake asset.
I wonder if that is a whale that isn't paying attention to the community...
The account that bought 88k still has over 1,000,000 NXT in it and that account was funded from an account that still has over 12,000,000 NXT
Edit:  Following the money, it does seem like its a good chance that was an initial investor

If only this whale can use this 88K to sponsor and hire a dev to work on the Social Graph project  (https://nxtforum.org/general-discussion/time-for-social-graph/)or one of other Nxt projects (http://www.nxttechnologytree.com/) his wealth will increase much more!
Title: Re: SuperNET TOKEN from BTER
Post by: theironman on September 05, 2014, 08:47:34 pm
That is true. One guy bought 88K of fake asset.
I wonder if that is a whale that isn't paying attention to the community...
The account that bought 88k still has over 1,000,000 NXT in it and that account was funded from an account that still has over 12,000,000 NXT
Edit:  Following the money, it does seem like its a good chance that was an initial investor

If only this whale can use this 88K to sponsor and hire a dev to work on the Social Graph project  (https://nxtforum.org/general-discussion/time-for-social-graph/)or one of other Nxt projects (http://www.nxttechnologytree.com/) his wealth will increase much more!

There are some great ways to spend NXT for sure.

I would buy Nxxty or Nxtdrop. ;)
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 05, 2014, 08:48:54 pm
Will somebody please post this account info in the scam section of the forum?  Last time that I did, James slapped my patties.
Title: Re: SuperNET TOKEN from BTER
Post by: gck on September 05, 2014, 08:50:49 pm
Why'd he do that?
Title: Re: SuperNET TOKEN from BTER
Post by: ThomasVeil on September 05, 2014, 08:52:28 pm
Well, most likely much of that buying is the scammer himself - he has to create fake volume to get up in the listings and create believable numbers.

Kinda the reason why I think there will be no metric to make any listing safe - there are always tricks to fudge numbers.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 05, 2014, 08:57:41 pm
Why'd he do that?

Yellow journalists were pointing to it and declaring that the SuperNET initiative(en totale) was a scam.
Title: Re: SuperNET TOKEN from BTER
Post by: Jacinto on September 05, 2014, 10:08:33 pm
Read this from this thread in BTT:

Quote
hey james normally I only read here but I sign up to share my story.
yesterday I bought UNITY and TOKEN only to realize today it was both a fake  :-\ :-\ :-\

but what strike me is the scammer send back most like 90% of what I lost with encrypted message that I should be careful buying fake assets and he took a "finders fee" :o

look here:

scam account http://blocks.nxtcrypto.org/nxt/nxt.cgi?action=3000&acc=9546810874286216653
he send funds to here http://blocks.nxtcrypto.org/nxt/nxt.cgi?action=3000&acc=17678274719935767871
then send out funds to scammed accounts  ???

8.   05.09.2014 14:33:05      NXT-2U76-X4SH-EL58-5XZ3X   250.00   Payment   1   2370013080395125014
9.   05.09.2014 14:30:00      NXT-65PU-ZM5D-AF2Z-GQZND   7,777.00   Payment   1   10179926733633687769
10.   05.09.2014 14:27:03      NXT-RA6F-TBCY-CAZA-GHHME   10,000.00   Payment   1   3410101444488214867
11.   05.09.2014 14:26:03      NXT-3FH7-TS6Q-44EV-8B9LN   6,500.00   Payment   1   15483304339274721265
12.   05.09.2014 14:23:57      NXT-KVAC-XAUD-JVLZ-7TCEZ   3,497.00   Payment   3   1653983513292585555
13.   05.09.2014 14:21:42      NXT-U2CZ-XLCD-NM83-C2S27

never seen something like this and really very reliefed I lost only 10% or something !!!!




Cryptoworld is unique!  ;D
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 05, 2014, 10:23:48 pm
Read this from this thread in BTT:

Quote
hey james normally I only read here but I sign up to share my story.
yesterday I bought UNITY and TOKEN only to realize today it was both a fake  :-\ :-\ :-\

but what strike me is the scammer send back most like 90% of what I lost with encrypted message that I should be careful buying fake assets and he took a "finders fee" :o

look here:

scam account http://blocks.nxtcrypto.org/nxt/nxt.cgi?action=3000&acc=9546810874286216653
he send funds to here http://blocks.nxtcrypto.org/nxt/nxt.cgi?action=3000&acc=17678274719935767871
then send out funds to scammed accounts  ???

8.   05.09.2014 14:33:05      NXT-2U76-X4SH-EL58-5XZ3X   250.00   Payment   1   2370013080395125014
9.   05.09.2014 14:30:00      NXT-65PU-ZM5D-AF2Z-GQZND   7,777.00   Payment   1   10179926733633687769
10.   05.09.2014 14:27:03      NXT-RA6F-TBCY-CAZA-GHHME   10,000.00   Payment   1   3410101444488214867
11.   05.09.2014 14:26:03      NXT-3FH7-TS6Q-44EV-8B9LN   6,500.00   Payment   1   15483304339274721265
12.   05.09.2014 14:23:57      NXT-KVAC-XAUD-JVLZ-7TCEZ   3,497.00   Payment   3   1653983513292585555
13.   05.09.2014 14:21:42      NXT-U2CZ-XLCD-NM83-C2S27

never seen something like this and really very reliefed I lost only 10% or something !!!!




Cryptoworld is unique!  ;D

HAHA that is epic!
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 05, 2014, 10:57:18 pm
You do realise its.....

SUPER NET SATURDAY
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 05, 2014, 11:11:35 pm
With a limited supply of tokens per minute, wont people try to bid above fixed price to take priority??

Will the seller regret these offers and only sell at the prefixed price? Does bter autofill orders with higher bids?? If not instead an IPO it will turn into an auction with price climbing.

Dont you think such a complex system will scare possible new users?? Isnt this leading to a speculative IPO, which you wanted to avoid??
yes new users should not get any TOKEN

Based on what I am seeing, it seems somewhat possible to end up on the larger end of predictions and that would require SuperNET to start purchasing real world software dev companies and I have had enough of that sort of thing. However, if the money is coming in, I would have a fiduciary duty to do my best effort and now that people know what I am able to do, I might have to do the whole M&A thing :(
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 05, 2014, 11:15:48 pm
Here's a text than can help understand SuperNET


Here is my take on the SuperNet:

SuperNet is similar to an ETF.  ETF stands for Exchange Traded Funds.  ETFs are hedge funds that invest in commodities, like gold and silver, stock them in a warehouse, and sell shares on the inventory.  As the price of the commodity goes up and down, the share price rises and falls.  Additional shares are sometimes created, and the funds used to purchase more physical inventory.  Some ETFs invest in certain stocks, like airline stocks or railroad stocks.  The book value of the ETF usually reflects the divided interest in the inventory.  100million shares for $500million inventory, results in $5 per share book value.  The trading price will usually closely follow the book price.

ETFs are useful for traders that want to diversify their holdings, but do not have the time/expertise to watch the market hourly.

ETFs are also useful for traders that dont want to hold physical commodities, such as gold and silver.

Now the bad parts:

Investing in an ETF also surrenders control of the commodity to a third party.  There is no guarantee that the commodity exists, or is not hypothecated to a fourth and fifth party.  This happened in China a few weeks ago when it was discovered that hundreds of tons of gold and copper owned by a ETF did not exist.  Investors in a ETF have only a call on the ETF shares, and not on the underlying commodity.  Which brings us to the old adage:  If you can't kiss it, you dont own it.


ETFs usually control a large part of a commodity market, and when they sell or buy, they can swing the price dramatically.  Also, if there is a dump of the ETF shares, it also effects the price of the underlying commodities.

The pooled nature of the inventory tends to boost the weak commodities, at the expense of the strong commodities.

ETFs also charge MANAGEMENT FEES.  This is how they make their money.  The fees are paid by a reduction in the inventory of the backing commodity.  So every Quarter, there will be 1% or so less inventory for the same number of shares, reducing the street value and thus the trading price.


So what is the purpose of SuperNet?   

Follow the Money and you will figure it out.



"The pooled nature of the inventory tends to boost the weak commodities, at the expense of the strong commodities." Is it really a good things for NXT?..
Clearly the writer of this is not understanding SuperNET at all. OK, follow the money what are the ongoing fees for the "ETF" portion of SuperNET. 0%
what is the total load factor for the purchase of NAV: 1% of funds raised, onetime

Now no ETF I ever heard of is operating as a software company that is creating its own user base and monetizing it, but for completeness let us ask what the overhead costs are for this portion: 10%, meaning it is run at a 90% profit margin

What is my giant salary and cost for office space: 0.00000000 per year, but I do get a nice holiday bonus of 0.00000000

Why am I doing this if I dont make money. Well I will be putting in most of my $2 mil networth into it and I do like to take care of how my investments are doing.

There is also a bit of a thing that is not related to money that is motivating me.

James
Title: Re: SuperNET TOKEN from BTER
Post by: Sebastien256 on September 05, 2014, 11:29:34 pm
hey James, you said that 2000BTC was to much for 1 person to invest in SuperNET. "Most of 2M dollars" lead to more than 2000BTC.  :D
If you invest 2000BTC in your own IPO, it sound like it cost nothing to you because you send the BTC to you in some sense, maybe I don't understand. You should clarify, thanks.
Title: Re: SuperNET TOKEN from BTER
Post by: rdanneskjoldr on September 05, 2014, 11:31:19 pm
hey James, you said that 2000BTC was to much for 1 person to invest in SuperNET. "Most of 2M dollars" lead to more than 2000BTC.  :D
If you invest 2000BTC in your own IPO, it sound like it cost nothing to you because you send the BTC to you in some sense, maybe I don't understand. You should clarify, thanks.

He may manage everything for a time, but if he does that, those 2000 btc belong to Supernet, not to james.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 05, 2014, 11:39:17 pm
Will somebody please post this account info in the scam section of the forum?  Last time that I did, James slapped my patties.
Wait! I thought you liked that sort of thing. I was just role playing
:)

just be careful with the title to avoid being misinterpreted. people are usually just reading the URL and not clicking through

James
Title: Re: SuperNET TOKEN from BTER
Post by: xyzzyx on September 05, 2014, 11:42:09 pm
Read this from this thread in BTT:

Quote
hey james normally I only read here but I sign up to share my story.
yesterday I bought UNITY and TOKEN only to realize today it was both a fake  :-\ :-\ :-\

but what strike me is the scammer send back most like 90% of what I lost with encrypted message that I should be careful buying fake assets and he took a "finders fee" :o
...
never seen something like this and really very reliefed I lost only 10% or something !!!!

Cryptoworld is unique!  ;D

HAHA that is epic!

Account name: Nxt Security Agency

http://blocks.nxtcrypto.org/nxt/nxt.cgi?action=2000&tra=305844360487396530

Weird.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 05, 2014, 11:42:20 pm
hey James, you said that 2000BTC was to much for 1 person to invest in SuperNET. "Most of 2M dollars" lead to more than 2000BTC.  :D
If you invest 2000BTC in your own IPO, it sound like it cost nothing to you because you send the BTC to you in some sense, maybe I don't understand. You should clarify, thanks.
I would lose the access to my 4000 BTC of crypto, but I get access to 1% in return...
so this makes me relatively poor again, but of course I expect SuperNET to be liquid and valuable
This is insurance policy for investors. With my fortune inside the SuperNET, it will make me fully motivated to make it worth more.

James

P.S. I have never confirmed nor denied that I am one person
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 05, 2014, 11:43:09 pm
hey James, you said that 2000BTC was to much for 1 person to invest in SuperNET. "Most of 2M dollars" lead to more than 2000BTC.  :D
If you invest 2000BTC in your own IPO, it sound like it cost nothing to you because you send the BTC to you in some sense, maybe I don't understand. You should clarify, thanks.

He may manage everything for a time, but if he does that, those 2000 btc belong to Supernet, not to james.
all my crypto belong to SuperNET
Title: Re: SuperNET TOKEN from BTER
Post by: nextcafe on September 06, 2014, 12:26:03 am
Should we start placing orders now?
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 01:53:38 am
Point of clarification.

I have already described the usages for the BTC raised, but I have not clarified the usage for the NXT and BTCD.
Most likely they will be simply long term HODL as they are staking/forging for their communities.

However, for the NXT as there are quite a few NXT based companies now issuing promising assets. I would like to use the NXT raised as the capital for NXTventure to use for making investments at seed to offering stages. NXTventure has done quite well with assets that I have made and limited success with third party originated assets, so the past performance cannot be expected. Of course, I will do my best to make good solid investments that have the best chances for good returns.

I have been making market rate swaps between my personal acct and the main assets to maximize the revenue sharing that will be going to SuperNET from them. I also am working with large holders of assets so that we can get close to the 50% mark for the key assets. During this process, I had to swap my personal 30% ownership of NXTventure into InstantDEX. And if all goes well, about half of instantDEX will go into the core. So that is a 15% beneficial ownership of NXTventure and I will be able to add another 25% or so. This means that SuperNET will be getting 40% of NXTventure dividends, so I think this justifies letting NXTventure have access to the SuperNET funds for its investments. Now, the NXTventure will need to pay back the capital it is using when the investment is offered to the public sale of assets. After this amount is paid back, then there will be the remaining assets that NXTventure has. For those not familiar with NXTventure, it is like a seed investor that goes from that point all the way to selling the assets, so not that it is exact, but something similar to a VC/investment bank, but operating on crypto time.

What this means is that SuperNET will be getting dividends in the form of the assets that it has incubated. So, for everyone with a good crypto business plan, there is this method of achieving a publicly traded asset and of course the entire SuperNET cross marketing. So this is a quite good plan and I feel better now, as it was not sitting right that arguably one of the most powerful of my assets was on the sidelines for the SuperNET.

I thank the poster who asked me about NXTventure as regards to SuperNET. I dont really think of NXTventure like an operating asset as there is no software it is making, but certainly the hybrid nature of SuperNET is a perfect home for NXTventure and now it will have a decent sized amount to invest.

James

P.S. even though coinomat is not one of my assets, I have been a strong supporter and have a significant percentage of its assets. Due to its key part in the fiat interfacing I believe it belongs in the SuperNET core.
Title: Re: SuperNET TOKEN from BTER
Post by: Windjc on September 06, 2014, 02:51:33 am
With a limited supply of tokens per minute, wont people try to bid above fixed price to take priority??

Will the seller regret these offers and only sell at the prefixed price? Does bter autofill orders with higher bids?? If not instead an IPO it will turn into an auction with price climbing.

Dont you think such a complex system will scare possible new users?? Isnt this leading to a speculative IPO, which you wanted to avoid??
yes new users should not get any TOKEN

Based on what I am seeing, it seems somewhat possible to end up on the larger end of predictions and that would require SuperNET to start purchasing real world software dev companies and I have had enough of that sort of thing. However, if the money is coming in, I would have a fiduciary duty to do my best effort and now that people know what I am able to do, I might have to do the whole M&A thing :(

Bidding above the price is moronic, imo, as the price increments up are very very small. Your only paying more for what you could buy for less in a few minutes, hours or tomorrow. Im sure ignorant people will do that though.
Title: Re: SuperNET TOKEN from BTER
Post by: 2Kool4Skewl on September 06, 2014, 04:18:35 am
Read this from this thread in BTT:

Quote
hey james normally I only read here but I sign up to share my story.
yesterday I bought UNITY and TOKEN only to realize today it was both a fake  :-\ :-\ :-\

but what strike me is the scammer send back most like 90% of what I lost with encrypted message that I should be careful buying fake assets and he took a "finders fee" :o
...
never seen something like this and really very reliefed I lost only 10% or something !!!!

Cryptoworld is unique!  ;D

HAHA that is epic!

Account name: Nxt Security Agency

http://blocks.nxtcrypto.org/nxt/nxt.cgi?action=2000&tra=305844360487396530

Weird.

NSA

ROFL   ;D
Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 06, 2014, 05:59:44 am
(https://i.imgflip.com/busij.jpg) (https://imgflip.com/i/busij)via Imgflip Meme Maker (https://imgflip.com/memegenerator)
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 08:13:37 am
Relevant post about escrow of funds:

###
I am working with HumanFractal and DomP on a distributed solution. The basic idea would be as follows:

using 2 of 3 (in reality probably bigger numbers will be used)
I would have the emergency backup key, I dont want to be needed for every tx!
freeworm would have one of the keys needed
there will be a pool of N trusted people from the NXT, BTC and BTCD communities who have the third key

Each block of X BTC would be put into a multisig acct
so X would be approx net BTC / N, where net BTC is after the 1% for costs, 10% for supertraders and some amount that is not an issue for bter to hold and I like the looks of Xapo and even Coinbase for some 10% level amounts. All tx will be publicly documented.

I posted the disbursement procedure a few pages back (I hope noashh will make a convenient page with all such things in one place) so when there is a disbursement needed, the approval is posted and the first of the N trustees who is available would do the payment tx.

If I appear to be taken over by aliens or appearing to be a monkey, then the community can raise an objection before disbursement is completed. However if it is a disbursement within the prescribed authority, the trustees are honor bound to release payment.

Now I know people from NXT and BTCD communities, but not so many from the BTC world itself, so I really need some help in getting this list of trusted members. I cant be the one to coordinate this list as there needs to be arms length between me and the trustees, so somebody else has to step up to coordinate this effort. The list will be vetted by the community and if there are any credible objections, then that would probably be enough for rejection.

Anyway, this is something I just started today so I apologize for its rough state, but the key is the selection of the trustees. I think people would feel much better if the trustees are significant stakeholders in SuperNET, but this is no requirement. We might need quite a few so, the sooner we can start this selection process the better.

First we need a responsible hard working person to coordinate this that is not currently already saturated.

James

P.S. if you are not comfortable with bter holding the funds for 2 to 4 weeks, just buy in the last hour it will be well know what the expiration hour is and we can make much larger volumes available the last hours if this is an issue
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 09:09:04 am
Do you see that : http://nxtreporting.com/?a=NXT-2AHU-UXZW-K9Q2-HENLW&c=USD

The little brother of SuperNET go up up !

And the price of jl777hodl is so low.

2.3 for a value of 3. I'm so sorry that I don't have NXT to buy it. I buyed some at 2.1 with all my NXT...
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 06, 2014, 09:27:36 am
Do you see that : http://nxtreporting.com/?a=NXT-2AHU-UXZW-K9Q2-HENLW&c=USD

The little brother of SuperNET go up up !

And the price of jl777hodl is so low.

2.3 for a value of 3. I'm so sorry that I don't have NXT to buy it. I buyed some at 2.1 with all my NXT...

Whose account is that? James's?

Who
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 09:33:18 am
Do you see that : http://nxtreporting.com/?a=NXT-2AHU-UXZW-K9Q2-HENLW&c=USD

The little brother of SuperNET go up up !

And the price of jl777hodl is so low.

2.3 for a value of 3. I'm so sorry that I don't have NXT to buy it. I buyed some at 2.1 with all my NXT...

Whose account is that? James's?

Who

This? http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=18323612891099439610&switch=200
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 06, 2014, 09:34:18 am
Do you see that : http://nxtreporting.com/?a=NXT-2AHU-UXZW-K9Q2-HENLW&c=USD

The little brother of SuperNET go up up !

And the price of jl777hodl is so low.

2.3 for a value of 3. I'm so sorry that I don't have NXT to buy it. I buyed some at 2.1 with all my NXT...

Whose account is that? James's?

Who

This? http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=18323612891099439610&switch=200

Ah I see :) thx
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 09:38:14 am
Yes sorry, I don't explain every thing : it's jl777hodl account.
Title: Re: SuperNET TOKEN from BTER
Post by: Neomadra on September 06, 2014, 09:45:25 am
I'm a little confused. The starting price on Bter is not 0.0095 btc. So we don't get the bonus, if we buy on bter? Do we get the bonus, if we buy on the AE?
https://bter.com/trade/token_btc
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 09:56:14 am

I'm a little confused. The starting price on Bter is not 0.0095 btc. So we don't get the bonus, if we buy on bter? Do we get the bonus, if we buy on the AE?
https://bter.com/trade/token_btc

I read it's a demo/test.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 09:59:23 am

I'm a little confused. The starting price on Bter is not 0.0095 btc. So we don't get the bonus, if we buy on bter? Do we get the bonus, if we buy on the AE?
https://bter.com/trade/token_btc

I read it's a demo/test.
lowest btc price will be .01
NXT gets effective price of .0095 using CMC 24 hour moving average as the conversion factor
Title: Re: SuperNET TOKEN from BTER
Post by: Sebastien256 on September 06, 2014, 12:48:21 pm
Why is the bid price of Token so high on AE (161 NXT). On Bter they are 143NXT.
Title: Re: SuperNET TOKEN from BTER
Post by: MrV777 on September 06, 2014, 12:51:38 pm
Why is the bid price of Token so high on AE (161 NXT). On Bter they are 143NXT.

I think some people just bid high or they didn't know what to bid so they just bid the next highest
Title: Re: SuperNET TOKEN from BTER
Post by: Sebastien256 on September 06, 2014, 12:53:02 pm
Why is the bid price of Token so high on AE (161 NXT). On Bter they are 143NXT.

I think some people just bid high or they didn't know what to bid so they just bid the next highest

yeah, this asset ipo is really not clear at all. It is just confusing imho. Why there is no sell order on AE?
Title: Re: SuperNET TOKEN from BTER
Post by: MrV777 on September 06, 2014, 12:54:37 pm
Why is the bid price of Token so high on AE (161 NXT). On Bter they are 143NXT.

I think some people just bid high or they didn't know what to bid so they just bid the next highest

yeah, this asset ipo is really not clear at all. It is just confusing imho.

I believe jl777 said it would be 0.0095 btc on the AE using the 24hr moving average of nxt for the conversion of btc->nxt

Edit: Not sure where I saw 0.0095BTC, looking back I found 0.01BTC
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 12:56:51 pm
It's better to buy in BTC as in NXT now because NXT rise more than 5% the last 24 hours.

Why is the sell order in BTC on BTER 0.01029287 and not 0.01 ?
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 01:00:25 pm
It's better to buy in BTC as in NXT now because NXT rise more than 5% the last 24 hours.

Why is the sell order in BTC on BTER 0.01029287 and not 0.01 ?

So much strategery open to us!  It's like playing chess. :)
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 01:03:36 pm
I like this moment. It's like the launch of the Asset Exchange !  8)
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 01:04:03 pm

I believe jl777 said it would be 0.0095 btc on the AE using the 24hr moving average of nxt for the conversion of btc->nxt

Edit: Not sure where I saw 0.0095BTC, looking back I found 0.01BTC

A couple of posts up  ;D


lowest btc price will be .01
NXT gets effective price of .0095 using CMC 24 hour moving average as the conversion factor
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 01:07:24 pm

I like this moment. It's like the launch of the Asset Exchange !  8)

Not enough memes (http://tweakimg.net/g/s/coool.gif).
Title: Re: SuperNET TOKEN from BTER
Post by: Sebastien256 on September 06, 2014, 01:09:41 pm

I like this moment. It's like the launch of the Asset Exchange !  8)

Not enough memes (http://tweakimg.net/g/s/coool.gif).

I would like to see a nice meme from 2Kool4Skewl about superNET...
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 01:10:58 pm

I like this moment. It's like the launch of the Asset Exchange !  8)

Not enough memes (http://tweakimg.net/g/s/coool.gif).

I would like to see a nice meme from 2Kool4Skewl about superNET...

Post one.  The more your meme, the more others meme. :)
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 01:11:59 pm
I take a beer ! It's a perfect afternoon.

(http://cdn.meme.li/instances/500x/54093964.jpg)
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 01:13:08 pm
James, will you be adjusting the NXT -> UNITY exchange rate over time to account for the increasing exchange rate between NXT -> BTC?  Otherwise, we're looking at a disincentive to invest early and in NXT is the NXT value continues to rise...
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 01:14:13 pm
I take a beer ! It's a perfect afternoon.

(http://cdn.meme.li/instances/500x/54093964.jpg)

THIS POST NEEDS MORE CROSSPOSTING

lol
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 01:14:36 pm

James, will you be adjusting the NXT -> UNITY exchange rate over time to account for the increasing exchange rate between NXT -> BTC?  Otherwise, we're looking at a disincentive to invest early and in NXT is the NXT value continues to rise...

Maybe that's why the first day is 15% discount.
Title: Re: SuperNET TOKEN from BTER
Post by: Sebastien256 on September 06, 2014, 01:15:57 pm

I like this moment. It's like the launch of the Asset Exchange !  8)

Not enough memes (http://tweakimg.net/g/s/coool.gif).

I would like to see a nice meme from 2Kool4Skewl about superNET...

Post one.  The more your meme, the more others meme. :)

I'm not in the same league as 2Kool4Skewl...  :D
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 01:17:12 pm

James, will you be adjusting the NXT -> UNITY exchange rate over time to account for the increasing exchange rate between NXT -> BTC?  Otherwise, we're looking at a disincentive to invest early and in NXT is the NXT value continues to rise...

Maybe that's why the first day is 15% discount.

Perhaps - but NXT value has moonrocketed 7.5% in the last 24 hours...it might outpace the discount...
Title: Re: SuperNET TOKEN from BTER
Post by: whale on September 06, 2014, 01:35:54 pm

James, will you be adjusting the NXT -> UNITY exchange rate over time to account for the increasing exchange rate between NXT -> BTC?  Otherwise, we're looking at a disincentive to invest early and in NXT is the NXT value continues to rise...

Maybe that's why the first day is 15% discount.

Perhaps - but NXT value has moonrocketed 7.5% in the last 24 hours...it might outpace the discount...

I just wonder if this rise was caused by SuperNET or not. It could just as easily go back down after the discount hype.
Title: Re: SuperNET TOKEN from BTER
Post by: daysi on September 06, 2014, 01:39:06 pm
Not enough memes

Found a video of JL777 dancing :

https://www.youtube.com/watch?v=C3o8pEsAu5U (https://www.youtube.com/watch?v=C3o8pEsAu5U)

 ;D
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 01:40:12 pm
(http://i.imgur.com/0fnWpaC.jpg)
Title: Re: SuperNET TOKEN from BTER
Post by: sashsh on September 06, 2014, 01:40:57 pm
It's saturday and it's 2:40, but Supernet doesn't seem to be available neither on bter nor on AE. Is there a delay?
Title: Re: SuperNET TOKEN from BTER
Post by: prometheus on September 06, 2014, 01:44:04 pm
It's saturday and it's 2:40, but Supernet doesn't seem to be available neither on bter nor on AE. Is there a delay?

http://www.nxtcommunity.org






Does anyone know how much BTC Ethereum collected the first day?
Title: Re: SuperNET TOKEN from BTER
Post by: Stadtfeger on September 06, 2014, 01:48:09 pm
i don´t have BTC just Nxt i would never sell my Nxt at this price to buy superNET, i hope to buy at good price on the AssetExchange later.
Since December i only buy never sell Nxt i wait for one Dollar each Nxt  ;)

Good Luck!
Title: Re: SuperNET TOKEN from BTER
Post by: popolozo on September 06, 2014, 01:48:58 pm
what the starting price onAE?
Title: Re: SuperNET TOKEN from BTER
Post by: Cyclone on September 06, 2014, 01:49:07 pm
It's saturday and it's 2:40, but Supernet doesn't seem to be available neither on bter nor on AE. Is there a delay?
It's 2:48 BST (British Summer Time), which is 1:48 GMT (Greenwich Mean Time)/UTC (Coordinated Universal Time). Don't feel too bad, I also thought the launch was happening earlier, until I saw the countdown clock and realised that the launch was based on GMT/UTC.
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 01:57:33 pm
i don´t have BTC just Nxt i would never sell my Nxt at this price to buy superNET, i hope to buy at good price on the AssetExchange later.
Since December i only buy never sell Nxt i wait for one Dollar each Nxt  ;)

Good Luck!

It's true. If NXT grows up more than 1% every day, the best moment to buy is the last day.
Title: Re: SuperNET TOKEN from BTER
Post by: seek4dream on September 06, 2014, 02:07:07 pm
i don´t have BTC just Nxt i would never sell my Nxt at this price to buy superNET, i hope to buy at good price on the AssetExchange later.
Since December i only buy never sell Nxt i wait for one Dollar each Nxt  ;)

Good Luck!

It's true. If NXT grows up more than 1% every day, the best moment to buy is the last day.
It will grow up much more than 1% per day :D
Title: Re: SuperNET TOKEN from BTER
Post by: EvilDave on September 06, 2014, 02:08:36 pm
Market is up on BTER...wierd shit happening, just picked up 100 snotkittens at 127 NXT a pop, which is good, but I don't understand some peoples strategies  ::)


(and DOGE just took 3rd place on CMC, talking of things I don't understand)
Title: Re: SuperNET TOKEN from BTER
Post by: Stadtfeger on September 06, 2014, 02:10:02 pm
I'm just spectators, but it is very funny  ;D
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:10:07 pm
Market is up on BTER...wierd shit happening, just picked up 100 snotkittens at 127 NXT a pop, which is good, but I don't understand some peoples strategies  ::)

lol  I saw that too!  A 150 per buy order??
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 02:12:01 pm

(and DOGE just took 3rd place on CMC, talking of things I don't understand)

Look at Exmo price http://coinmarketcap.com/currencies/dogecoin/#markets $ 0.054560  ;D
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 02:13:16 pm
well...trading on bter is paused on the selling side  :P

Has "Failed, reason is Not Permitted"

looks like bter disabled selling but enabled buying of the asset... ???
Title: Re: SuperNET TOKEN from BTER
Post by: EvilDave on September 06, 2014, 02:14:42 pm

(and DOGE just took 3rd place on CMC, talking of things I don't understand)

Look at Exmo price http://coinmarketcap.com/currencies/dogecoin/#markets $ 0.054560  ;D

Ooops....looks like someones just lost $33,000
Title: Re: SuperNET TOKEN from BTER
Post by: JamesList on September 06, 2014, 02:17:31 pm
I absolutly don't understand this. It should not run like this. The first minutes everything got sold out like it is something what is super rare. I waited the whole day and dont have time left and can't invest now.
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 02:19:14 pm
Market is up on BTER...wierd shit happening, just picked up 100 snotkittens at 127 NXT a pop, which is good, but I don't understand some peoples strategies  ::)

lol  I saw that too!  A 150 per buy order??

there is a 500 per buy order now on bter... :o
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 02:19:58 pm

I absolutly don't understand this. It should not run like this. The first minutes everything got sold out like it is something what is super rare. I waited the whole day and dont have time left and can't invest now.

Don't worry, this can go on for weeks. Plenty of time to buy all the tokens you want, the supply is unlimited.
Title: Re: SuperNET TOKEN from BTER
Post by: sashsh on September 06, 2014, 02:20:21 pm
127 offer from asset issuer has gone on AE. Is that it for today? I didn't manage to bey it yet(
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:22:21 pm
I absolutly don't understand this. It should not run like this. The first minutes everything got sold out like it is something what is super rare. I waited the whole day and dont have time left and can't invest now.

It's not sold out.  It's sold in blocks over time...Put in your order at 130 and it will be fulfilled eventually.
Title: Re: SuperNET TOKEN from BTER
Post by: rdanneskjoldr on September 06, 2014, 02:22:24 pm
Are all the sells to above market prizes done by bter??
Are no users allowed to put sell orders??

I saw a 25 btc order at 0.018 btc,which is much free money for bter if they trade it. Or will that money be part of supernet funds??
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 02:23:22 pm
Are all the sells to above market prizes done by bter??
Are no users allowed to put sell orders??

I saw a 25 btc order at 0.018 btc,which is much free money for bter if they trade it. Or will that money be part of supernet funds??

nobody is allowed to sell on bter other than bter atm...which is really strange lol...AE is allowed.  :P
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:23:47 pm
Are all the sells to above market prizes done by bter??
Are no users allowed to put sell orders??

I saw a 25 btc order at 0.018 btc,which is much free money for bter if they trade it. Or will that money be part of supernet funds??

Looks like they stopped sell orders by anybody but James/them.  Makes sense.
Title: Re: SuperNET TOKEN from BTER
Post by: JamesList on September 06, 2014, 02:24:19 pm
This is total chaos, many peeps not happy will be :-\

+1440

Title: Re: SuperNET TOKEN from BTER
Post by: EvilDave on September 06, 2014, 02:25:44 pm
Looks like selling is disabled now, thankfully.

Far as I can see, there are 1000 tokens going on the market every 1-2 minutes, so, if you want some, just put in an order around the 127.7 mark and wait......
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:25:56 pm
What's nice about Bter, too, is if you put in a buy order above asking price, they will only charge you the asking price when the TOKEN becomes available. :)
Title: Re: SuperNET TOKEN from BTER
Post by: Breasal on September 06, 2014, 02:26:09 pm
@ James, possible to fill the 127 orders on the AE, still alot!

Edit: Yay, all of 'em just filled!
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 06, 2014, 02:27:53 pm
What's nice about Bter, too, is if you put in a buy order above asking price, they will only charge you the asking price when the TOKEN becomes available. :)

No, theyy charge you the full price. You can see it in the NXT market ;)
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:28:18 pm
What's nice about Bter, too, is if you put in a buy order above asking price, they will only charge you the asking price when the TOKEN becomes available. :)

No, theyy charge you the full price. You can see it in the NXT market ;)

That's not what I just saw happen...

I think they might have modified their logic for this sale or something.  I put in an order at 128, and got this:

09-06 22:24:33 Buy 127.70367241 108.367
Title: Re: SuperNET TOKEN from BTER
Post by: JamesList on September 06, 2014, 02:28:25 pm
what was the official price for 1 token in BTC and 1 toke in nxt?
Title: Re: SuperNET TOKEN from BTER
Post by: EvilDave on September 06, 2014, 02:31:15 pm
What's nice about Bter, too, is if you put in a buy order above asking price, they will only charge you the asking price when the TOKEN becomes available. :)

So if everyone places their orders @ 130 for the next few hours, BTER will fill orders on a first come, first served basis.
With sells disabled (except for James 8) ), there really is little point in trying to outbid the market, considering that the IPO will run for a while yet. 

Price is (in theory) 0.01 BTC or 127 NXT (with a 5% bonus for NXT purchase)
Title: Re: SuperNET TOKEN from BTER
Post by: prometheus on September 06, 2014, 02:31:31 pm
what was the official price for 1 token in BTC and 1 toke in nxt?

.01 BTC is the price


Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:33:47 pm
What's nice about Bter, too, is if you put in a buy order above asking price, they will only charge you the asking price when the TOKEN becomes available. :)

So if everyone places their orders @ 130 for the next few hours, BTER will fill orders on a first come, first served basis.
With sells disabled (except for James 8) ), there really is little point in trying to outbid the market, considering that the IPO will run for a while yet.

+1440
Title: Re: SuperNET TOKEN from BTER
Post by: EvilDave on September 06, 2014, 02:34:20 pm
3000 on sale
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 02:34:54 pm
wow...80k token sell order by James at 127 :)

all those people that bought above 140...
Title: Re: SuperNET TOKEN from BTER
Post by: kseistrup on September 06, 2014, 02:35:45 pm
I'm not sure I understand how this works…  On Bter.com I filled in an order for buying TOKENs for 1 BTC and pressed “buy”.  History shows 99.98 TOKEN with no open orders.  Now, how do I transfer the asset to my NXT account?
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 02:36:40 pm
wow...80k token sell order by James at 127 :)

all those people that bought above 140...
it doesnt matter what the sell price is, if you are bidding 140 you pay the 140, if you bid 150 you pay 150
this is why it is called bid
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 02:37:33 pm
wow...80k token sell order by James at 127 :)

all those people that bought above 140...
it doesnt matter what the sell price is, if you are bidding 140 you pay the 140, if you bid 150 you pay 150
this is why it is called bid

thats what I meant...  ???

lol
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:39:04 pm
wow...80k token sell order by James at 127 :)

all those people that bought above 140...
it doesnt matter what the sell price is, if you are bidding 140 you pay the 140, if you bid 150 you pay 150
this is why it is called bid

True for the NXT AE but not for BTER.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:39:36 pm
I'm not sure I understand how this works…  On Bter.com I filled in an order for buying TOKENs for 1 BTC and pressed “buy”.  History shows 99.98 TOKEN with no open orders.  Now, how do I transfer the asset to my NXT account?

You have to hodl until the sale is over.  Then you'll be able to transfer to your NXT account.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 02:40:13 pm
after allnighter I miscalculated and put a 140 ask
should have been 127, so this is a difference of 13 NXT
now if you didnt bid over 127, you wouldnt have paid
however, I feel bad, so I will make a one time sell offer at 114 NXT
get your bids in at 114 and I will fill this in less than half hour. Once I do this, then plz no complaints
things are quite hectic
spread the word about this so everybody knows who paid the 140
I have no way to enforce only those who paid 140 should do the 114, but this is the intent
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:40:54 pm
I like how the price is decreasing as the NXT price climbs compared to BTC. :)  Looks pretty weird!
Title: Re: SuperNET TOKEN from BTER
Post by: kseistrup on September 06, 2014, 02:41:16 pm
I'm not sure I understand how this works…  On Bter.com I filled in an order for buying TOKENs for 1 BTC and pressed “buy”.  History shows 99.98 TOKEN with no open orders.  Now, how do I transfer the asset to my NXT account?

You have to hodl until the sale is over.  Then you'll be able to transfer to your NXT account.

Thanks.  And when is the sale over?
Title: Re: SuperNET TOKEN from BTER
Post by: sv3n on September 06, 2014, 02:41:41 pm
New AE Issue transaction feature: Add a "IPO" field to allow only the issuer to put in sell orders for that asset for X amount of blocks.  Total chaos on the AE.  Stop putting in bids higher than 127 people!!
Title: Re: SuperNET TOKEN from BTER
Post by: longzai1988 on September 06, 2014, 02:42:32 pm
I like how the price is decreasing as the NXT price climbs compared to BTC. :)  Looks pretty weird!

This is definitely weird, the first person doesn't mean he is getting the best deal 
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:42:37 pm
I'm not sure I understand how this works…  On Bter.com I filled in an order for buying TOKENs for 1 BTC and pressed “buy”.  History shows 99.98 TOKEN with no open orders.  Now, how do I transfer the asset to my NXT account?

You have to hodl until the sale is over.  Then you'll be able to transfer to your NXT account.

Thanks.  And when is the sale over?



Two weeks, I believe.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:43:30 pm
I like how the price is decreasing as the NXT price climbs compared to BTC. :)  Looks pretty weird!

This is definitely weird, the first person doesn't mean he is getting the best deal

Oops!  I suppose I should have hodled! lol  Seems like the price should be increasing...not decreasing...
Title: Re: SuperNET TOKEN from BTER
Post by: kseistrup on September 06, 2014, 02:43:37 pm
Thanks.  And when is the sale over?


Two weeks, I believe.

Thanks!
Title: Re: SuperNET TOKEN from BTER
Post by: gs02xzz on September 06, 2014, 02:45:00 pm
after allnighter I miscalculated and put a 140 ask
should have been 127, so this is a difference of 13 NXT
now if you didnt bid over 127, you wouldnt have paid
however, I feel bad, so I will make a one time sell offer at 114 NXT
get your bids in at 114 and I will fill this in less than half hour. Once I do this, then plz no complaints
things are quite hectic
spread the word about this so everybody knows who paid the 140
I have no way to enforce only those who paid 140 should do the 114, but this is the intent

How about just refund 13 nxt to those who paid 140, instead of dropping to 114?
Title: Re: SuperNET TOKEN from BTER
Post by: chuki on September 06, 2014, 02:45:16 pm
I have got 10 Token for 2000 NXT. is this normal ???
Title: Re: SuperNET TOKEN from BTER
Post by: starik69 on September 06, 2014, 02:46:23 pm
~10M NXT on AE sold!  :o
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:46:32 pm
I have got 10 Token for 2000 NXT. is this normal ???

Apparently you paid 200NXT per token...
Title: Re: SuperNET TOKEN from BTER
Post by: swartzfeger on September 06, 2014, 02:46:39 pm
I have got 10 Token for 2000 NXT. is this normal ???


From where, BTER? They're going for 127 NXT, so no, not normal.
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 02:46:54 pm
I have got 10 Token for 2000 NXT. is this normal ???

depends on the price you paid and where/when you placed the bid.  :)

looks like you paid 200 per

if you placed the bid during the chaos at the opening especially at bter after they sold their initial sell order(or on AE at a higher price), that would be what happened (someone that bought at 127 from bter initially could have sold it to you at 200 per, same with the AE)
Title: Re: SuperNET TOKEN from BTER
Post by: chuki on September 06, 2014, 02:50:08 pm
I have got 10 Token for 2000 NXT. is this normal ???


From where, BTER? They're going for 127 NXT, so no, not normal.

Yes from BTER. I think it was a fix price 127NXT !?!?!  damn
Title: Re: SuperNET TOKEN from BTER
Post by: gs02xzz on September 06, 2014, 02:51:06 pm
I like how the price is decreasing as the NXT price climbs compared to BTC. :)  Looks pretty weird!

True. That makes that the earlier you bought the higher price you paid.
Title: Re: SuperNET TOKEN from BTER
Post by: costa2439 on September 06, 2014, 02:51:42 pm
It has to be due to the sale of assets 140?
that was not agreed

at that time the value was 127 nxt
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 02:53:56 pm
I like how the price is decreasing as the NXT price climbs compared to BTC. :)  Looks pretty weird!

True. That makes that the earlier you bought the higher price you paid.

FAIL lol  So, this helps people buying NXT now, but hurts those who bought NXT prior to the sale and invested immediately.  That leaves a bad taste in my mouth...
Title: Re: SuperNET TOKEN from BTER
Post by: EvilDave on September 06, 2014, 02:58:56 pm
Yeah, but don't forget that there is a 15% discount calculated into todays price, which will gradually be removed over the next 2 weeks.
So, tomorrows price will be 0.0101 BTC, rising to 0.0115 by the end of the IPO.

It does look as though NXT on BTER is the cheapest buy strategy, considering that NXT price is rising faster than token price, as the bonus is being removed.
Be interesting to see how much BTC and BTCD are flowing in....

We'll see how it goes.....my personal strategy is to make small buys every day till the end of the IPO.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 03:02:38 pm
Yeah, but don't forget that there is a 15% discount calculated into todays price, which will gradually be removed over the next 2 weeks.
So, tomorrows price will be 0.0101 BTC, rising to 0.0115 by the end of the IPO.

It does look as though NXT on BTER is the cheapest buy strategy, considering that NXT price is rising faster than token price, as the bonus is being removed.
Be interesting to see how much BTC and BTCD are flowing in....

We'll see how it goes.....my personal strategy is to make small buys every day till the end of the IPO.

Thinking back, I would have been better off going with your strategy.  It spreads the risk around. :)

So, if someone wanted to really game the system, they could buy NXT now, wait until just before the price increase for the next day, and buy...
Title: Re: SuperNET TOKEN from BTER
Post by: prometheus on September 06, 2014, 03:12:15 pm
~980 BTC volume on BTer overall
Title: Re: SuperNET TOKEN from BTER
Post by: daysi on September 06, 2014, 03:16:36 pm
How about just refund 13 nxt to those who paid 140, instead of dropping to 114?

+1
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 03:16:56 pm
It has to be due to the sale of assets 140?
that was not agreed

at that time the value was 127 nxt
I am about to clear the orderbook down to 114 as compensation
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 03:17:14 pm
How about just refund 13 nxt to those who paid 140, instead of dropping to 114?

+1
do you volunteer to do all the refund tx?
Title: Re: SuperNET TOKEN from BTER
Post by: daysi on September 06, 2014, 03:25:59 pm
How about just refund 13 nxt to those who paid 140, instead of dropping to 114?

+1
do you volunteer to do all the refund tx?

it was a question, we have the answer, thanks.  ;)
Title: Re: SuperNET TOKEN from BTER
Post by: Lagb on September 06, 2014, 03:26:34 pm

I am about to clear the orderbook down to 114 as compensation


That's nice from you!   ;)     Just waiting.   ;D
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 03:35:58 pm

I am about to clear the orderbook down to 114 as compensation


That's nice from you!   ;)     Just waiting.   ;D
submitted but we are on a long block
i will leave it for one block so if you dont get your bid in this block dont complain
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 03:39:40 pm

I am about to clear the orderbook down to 114 as compensation


That's nice from you!   ;)     Just waiting.   ;D
submitted but we are on a long block
i will leave it for one block so if you dont get your bid in this block dont complain
are we still on block 228136?
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 03:40:12 pm

I am about to clear the orderbook down to 114 as compensation


That's nice from you!   ;)     Just waiting.   ;D
submitted but we are on a long block
i will leave it for one block so if you dont get your bid in this block dont complain
are we still on block 228136?

yup :)

228136   06/09/2014 05:22:19   0 + 1   1
Title: Re: SuperNET TOKEN from BTER
Post by: maddy83 on September 06, 2014, 03:42:32 pm
So, does it make more sense to buy from BTER or AE?

Is there any other difference than the small difference in price?
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 03:43:24 pm
So, does it make more sense to buy from BTER or AE?

Is there any other difference than the small difference in price?

buy on bter, need to leave it on there till the end of the sale. buy on AE can keep it on account.

I believe that is all.

edit: in addition to being able to trade on AE.
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 06, 2014, 03:43:37 pm
So, does it make more sense to buy from BTER or AE?

Is there any other difference than the small difference in price?

You can trade on AE. BTER market is locked until sale is over.
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 06, 2014, 03:46:06 pm
Faster faster block 228137  :o :o :o :o
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 03:46:35 pm
Come on block 228137  :o :o :o :o

20+ minute block... :'(
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 06, 2014, 03:51:06 pm
Block 228137 is constipated.  ;D
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 03:51:50 pm
Block 228137 is constipated.  ;D

yay :) constipation over.
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 06, 2014, 03:52:14 pm
228137 is out. That feels much better.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 03:54:46 pm
228137 is out. That feels much better.

lolol  You guys are hilarious. :)
Title: Re: SuperNET TOKEN from BTER
Post by: _mr_e on September 06, 2014, 03:57:48 pm
Is there a right up somewhere on how block times are set in nxt? I understand with PoW the time between blocks is set by the difficulty adjusted... How does this work in Nxt?
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 06, 2014, 03:59:39 pm
Does anybody know how much has been invested so far?
Title: Re: SuperNET TOKEN from BTER
Post by: mezzovide on September 06, 2014, 04:02:06 pm
Does anybody know how much has been invested so far?

see here http://nxtreporting.com/?as=15641806960898178066 (http://nxtreporting.com/?as=15641806960898178066)
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 06, 2014, 04:03:10 pm
Block 228139 don't forget to eat lots of fiber and drink plenty of water.  ;D :D
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 06, 2014, 04:05:47 pm
228137 is out. That feels much better.

Reminded me http://www.youtube.com/watch?v=OGSv34vD6zo#t=2622

Edit: Link to time point doesn't work. Jump straight to 43:43.
Title: Re: SuperNET TOKEN from BTER
Post by: DrearyUrbanite on September 06, 2014, 04:06:16 pm
Does anybody know how much has been invested so far?

Looks like 790 BTC at the moment - http://www.cryptoassetcharts.info/assets/info
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 04:07:35 pm
Does anybody know how much has been invested so far?

Looks like 790 BTC at the moment - http://www.cryptoassetcharts.info/assets/info

That's not including Bter, right?
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 04:08:48 pm
Does anybody know how much has been invested so far?

see here http://nxtreporting.com/?as=15641806960898178066 (http://nxtreporting.com/?as=15641806960898178066)

+4 mio NXT + 450 BTC + 91k BTCD + 29k CNY on bter
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 04:10:00 pm
So, does it make more sense to buy from BTER or AE?

Is there any other difference than the small difference in price?

You can trade on AE. BTER market is locked until sale is over.
victor came up with a solution, so simple I am idiot for not thinking of it.
just allow sales below official price!
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 04:10:13 pm
Does anybody know how much has been invested so far?

see here http://nxtreporting.com/?as=15641806960898178066 (http://nxtreporting.com/?as=15641806960898178066)

+4 mio NXT + 450 BTC + 91k BTCD + 29k CNY on bter

wow  ;D
Title: Re: SuperNET TOKEN from BTER
Post by: DrearyUrbanite on September 06, 2014, 04:11:25 pm
Does anybody know how much has been invested so far?

Looks like 790 BTC at the moment - http://www.cryptoassetcharts.info/assets/info

That's not including Bter, right?

I believe you are correct - doh!
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 06, 2014, 04:11:47 pm
Does anybody know how much has been invested so far?

Looks like 790 BTC at the moment - http://www.cryptoassetcharts.info/assets/info

That's not including Bter, right?

On BTER front page

TOKEN/BTC is 522 BTC

Only this market is shown so maybe the other buys are consolidated into this figure???
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 06, 2014, 04:12:24 pm
SuperNET, AE and NXT:

https://www.youtube.com/watch?v=LQrlAgae01A
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 06, 2014, 04:15:46 pm
Does anybody know how much has been invested so far?

Looks like 790 BTC at the moment - http://www.cryptoassetcharts.info/assets/info

That's not including Bter, right?

On BTER front page

TOKEN/BTC is 522 BTC

Only this market is shown so maybe the other buys are consolidated into this figure???

I guess so. 1300+ btc in 2 hours.
Title: Re: SuperNET TOKEN from BTER
Post by: prometheus on September 06, 2014, 04:16:09 pm
Does anybody know how much has been invested so far?

i calculated 980 on BTer the first 70 minutes. Not sure about AE
Title: Re: SuperNET TOKEN from BTER
Post by: nextcafe on September 06, 2014, 04:16:16 pm
So, does it make more sense to buy from BTER or AE?

Is there any other difference than the small difference in price?

You can trade on AE. BTER market is locked until sale is over.
victor came up with a solution, so simple I am idiot for not thinking of it.
just allow sales below official price!

Thanks again for all you hard work. This is a good day for Nxt.
Title: Re: SuperNET TOKEN from BTER
Post by: salsacz on September 06, 2014, 04:17:40 pm
ethereum had also 1k BTC in first hour
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 04:21:03 pm
https://bter.com/marketlist/NEW

4.8 mio NXT
11.7k BTCD
529 BTC
186k CNY

Title: Re: SuperNET TOKEN from BTER
Post by: ThomasVeil on September 06, 2014, 04:22:27 pm
Does anybody know how much has been invested so far?

On Bter the stats seem a bit unreliable - but what I gather there:
CNY: 4000 TOKEN = 115 BTC
BTC: 51000 = 510 BTC
NXT: 37000 = 370 BTC

On NXT-AE:
14.3M NXT = 115322 TOKEN = 1150 BTC
----
2148 BTC total


Take the calculation with caution - but dang! after half a day or so.
I think we should pick up a Roman tradition:
When a general came back victorious from a battle, he would get golden laurels and his army would march through the city - presenting all the loot and prisoners. And while whole Rome was praising him... his soldiers would have another job: To follow and sing songs mocking the general. Telling him what a fool he is. How incapable and how insignificant. To keep his ego in check.

So when James does his deserved victory round tomorrow after the IPO, someone should make sure to knock him down a notch so he doesn't float off ;D
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 04:22:59 pm
https://twitter.com/Cryptopumping/status/508286537688420352
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 04:23:52 pm
Does anybody know how much has been invested so far?

On Bter the stats seem a bit unreliable - but what I gather there:
CNY: 4000 TOKEN = 115 BTC
BTC: 51000 = 510 BTC
NXT: 37000 = 370 BTC

On NXT-AE:
14.3M NXT = 115322 TOKEN = 1150 BTC
----
2148 BTC total


Take the calculation with caution - but dang! after half a day or so.
I think we should pick up a Roman tradition:
When a general came back victorious from a battle, he would get golden laurels and his army would march through the city - presenting all the loot and prisoners. And while whole Rome was praising him... his soldiers would have another job: To follow and sing songs mocking the general. Telling him what a fool he is. How incapable and how insignificant. To keep his ego in check.

So when James does his deserved victory round tomorrow after the IPO, someone should make sure to knock him down a notch so he doesn't float off ;D
are you from the planet mercury?
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 04:24:36 pm
Does anybody know how much has been invested so far?

On Bter the stats seem a bit unreliable - but what I gather there:
CNY: 4000 TOKEN = 115 BTC
BTC: 51000 = 510 BTC
NXT: 37000 = 370 BTC

On NXT-AE:
14.3M NXT = 115322 TOKEN = 1150 BTC
----
2148 BTC total


Take the calculation with caution - but dang! after half a day or so.
I think we should pick up a Roman tradition:
When a general came back victorious from a battle, he would get golden laurels and his army would march through the city - presenting all the loot and prisoners. And while whole Rome was praising him... his soldiers would have another job: To follow and sing songs mocking the general. Telling him what a fool he is. How incapable and how insignificant. To keep his ego in check.

So when James does his deserved victory round tomorrow after the IPO, someone should make sure to knock him down a notch so he doesn't float off ;D

We could do it on MICoin's memechain! :)

BTw, your calc is off Thomas...It's only been about three hours. ;)
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 06, 2014, 04:26:27 pm
Does anybody know how much has been invested so far?

On Bter the stats seem a bit unreliable - but what I gather there:
CNY: 4000 TOKEN = 115 BTC
BTC: 51000 = 510 BTC
NXT: 37000 = 370 BTC

On NXT-AE:
14.3M NXT = 115322 TOKEN = 1150 BTC
----
2148 BTC total


Take the calculation with caution - but dang! after half a day or so.
I think we should pick up a Roman tradition:
When a general came back victorious from a battle, he would get golden laurels and his army would march through the city - presenting all the loot and prisoners. And while whole Rome was praising him... his soldiers would have another job: To follow and sing songs mocking the general. Telling him what a fool he is. How incapable and how insignificant. To keep his ego in check.

So when James does his deserved victory round tomorrow after the IPO, someone should make sure to knock him down a notch so he doesn't float off ;D

We could do it on MICoin's memechain! :)

+1000000000000000000000000000000000000000000000
Title: Re: SuperNET TOKEN from BTER
Post by: coinomat on September 06, 2014, 04:26:46 pm
Well, to the mooooon!!! Brilliant idea. brilliant start!
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 04:36:40 pm
ethereum had also 1k BTC in first hour
do you have hourly breakdowns for ETH?
I think we were closer to 2K in the first hour
Title: Re: SuperNET TOKEN from BTER
Post by: crumb-bum on September 06, 2014, 04:39:26 pm
Please remind me how much Ethereum raised in total with their IPO.

?
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 04:41:05 pm
http://cointelegraph.com/news/112129/ethereum-raises-3700-btc-in-first-12-hours-of-ether-presale
Title: Re: SuperNET TOKEN from BTER
Post by: salsacz on September 06, 2014, 04:41:43 pm
Quote
Adam Ludwin ‏@adamludwin  22. 7.
Ethereum will EASILY go down as the biggest, fastest, crowdfunding event in history.  Has crossed $500k in first hour. @ethereumproject
Rozbalit    Odpovědět  Retweetnout  Označit jako oblíbený   Víc
 Artia ‏@artia  22. 7.
Pre-sale for #ethereum hits $450K in 1 hour. Funding rate also increasing - anyone graphing this in real-time yet? cc @ethereumproject
Title: Re: SuperNET TOKEN from BTER
Post by: salsacz on September 06, 2014, 04:43:00 pm
someone deposited 1000 BTC after one hour as I remember
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 04:44:22 pm
someone deposited 1000 BTC after one hour as I remember

We can haz to? lol
Title: Re: SuperNET TOKEN from BTER
Post by: crumb-bum on September 06, 2014, 04:55:39 pm
Looks like the total raised in the ethereal presale was about $14M.

http://cointelegraph.com/news/112234/what-is-ethereum-going-to-do-with-all-the-money-it-raised (http://cointelegraph.com/news/112234/what-is-ethereum-going-to-do-with-all-the-money-it-raised)
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 04:56:56 pm
Looks like the total raised in the ethereal presale was about $14M.

http://cointelegraph.com/news/112234/what-is-ethereum-going-to-do-with-all-the-money-it-raised (http://cointelegraph.com/news/112234/what-is-ethereum-going-to-do-with-all-the-money-it-raised)

Pocket change compared to what UNITY will receive. ;)
Title: Re: SuperNET TOKEN from BTER
Post by: rdanneskjoldr on September 06, 2014, 05:00:31 pm
How is there nothing of supernet in reddit/r/bitcoin??
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 05:03:43 pm
We need a twitter swarm on this:

https://twitter.com/Cryptopumping/status/508286537688420352
Title: Re: SuperNET TOKEN from BTER
Post by: mf-tzo on September 06, 2014, 05:28:36 pm
I am probably missing something here...so appologies if this is stupid...

1 supernet token is sold @ $4-$4.5 and I see on the AE +60 mil Token in existence so in other words we value the supernet token at market cap +$240 mil??
Also do I understand correctly that there may be additional tokens? more than 60 mil if required?

Please explain...
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 05:29:48 pm
I am probably missing something here...so appologies if this is stupid...

1 supernet token is sold @ $4-$4.5 and I see on the AE +60 mil Token in existence so in other words we value the supernet token at market cap +$240 mil??
Also do I understand correctly that there may be additional tokens? more than 60 mil if required?

Please explain...
that is max possible
the ones that dont sell will be burned
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 05:29:54 pm
I am probably missing something here...so appologies if this is stupid...

1 supernet token is sold @ $4-$4.5 and I see on the AE +60 mil Token in existence so in other words we value the supernet token at market cap +$240 mil??
Also do I understand correctly that there may be additional tokens? more than 60 mil if required?

Please explain...

There will be as many TOKEN as get sold across Bter and the NXT AE.
Title: Re: SuperNET TOKEN from BTER
Post by: mf-tzo on September 06, 2014, 05:33:45 pm
That makes more sense... thank you!! So we are currently @ c $1mil market cap within a couple of hours of trading assuming 2,200 BTC @ 480 correct?

Do I understand correctly that the issuer will not sell below the current price or if people stop buying the price can be lowered? where should I read more details about the IPO?

Thank you very much again!
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 06, 2014, 05:34:11 pm
Yeah, but don't forget that there is a 15% discount calculated into todays price, which will gradually be removed over the next 2 weeks.
So, tomorrows price will be 0.0101 BTC, rising to 0.0115 by the end of the IPO.

It does look as though NXT on BTER is the cheapest buy strategy, considering that NXT price is rising faster than token price, as the bonus is being removed.
Be interesting to see how much BTC and BTCD are flowing in....

We'll see how it goes.....my personal strategy is to make small buys every day till the end of the IPO.

I'm curious to know how this 5% per day appreciation theory will work out, since if it's true then it will totally offset any 15% discount at the beginning.
Placed a btc order on BTER and a small NXT order on AE today. Will watch carefully to see if the NXT price goes up more than 1% per day. Until it stops, it makes sense to wait for any more purchases.
Somebody clever could probably track these things and provide a signal when it's the best time to buy.
Title: Re: SuperNET TOKEN from BTER
Post by: ThomasVeil on September 06, 2014, 05:36:13 pm
So when James does his deserved victory round tomorrow after the IPO, someone should make sure to knock him down a notch so he doesn't float off ;D
are you from the planet mercury?

Because of the lower gravity or because the god of trading comes from there? :D

We could do it on MICoin's memechain! :)

Cool idea. Too bad I have no mental image of James hehe.

We need a twitter swarm on this:

https://twitter.com/Cryptopumping/status/508286537688420352

Done!
Marketing-machine is a bit lagging atm. No news articles? And can't believe there is nothing on Reddit!
Gave it a shot: http://www.reddit.com/r/CryptoCurrency/comments/2fnfui/supernet_token_sale_nets_more_than_2000btc_after/
Love the icon that reddit picked - I'll stick with it. ;D

Quote
BTw, your calc is off Thomas...It's only been about three hours. ;)

Ah, reading that 5 seconds too late for reddit.
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 06, 2014, 05:37:03 pm
That makes more sense... thank you!! So we are currently @ c $1mil market cap within a couple of hours of trading assuming 2,200 BTC @ 480 correct?

Do I understand correctly that the issuer will not sell below the current price or if people stop buying the price can be lowered? where should I read more details about the IPO?

Thank you very much again!

SuperNET is valued in BTC. If the NXT price rises, the amount of NXT required to buy a share token will fall.
The BTC price will gently and steadily rise for the next two weeks, from 0.01 to 0.0115, then remain constant for the rest of the IPO process.
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 06, 2014, 05:39:06 pm
Marketing-machine is a bit lagging atm. No news articles? And can't believe there is nothing on Reddit!

Annoyingly, I had something uploaded for BitScan well in advance, but they haven't published it yet. Hopefully Monday but I have no way of knowing when they'll get to it.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 05:42:44 pm
TOKEN/NXT   5,162,602.00 NXT + 13'177'994 NXT = 18340596 NXT @ 0.00007917 BTC = 1452.02 BTC   
TOKEN/BTCD   12,659.00 BTCD   @ 0.01455350 BTC = 184.23 BTC
TOKEN/BTC   608.50 BTC   
TOKEN/CNY   210K CNY   @ 2967 CNY/BTC = 70.78 BTC

2315.52 BTC equiv after 3.5 hrs

If you paid more than the official price on bter, just make a support ticket and they will credit your account
 
If you paid more than 127 NXT on AE, I believe I have finished all the compensations. If you paid more then the official price of 127 NXT and have not received the additional TOKEN to get your ave price to the 127 NXT, then PM me

James
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 06, 2014, 05:45:05 pm
TOKEN/NXT   5,162,602.00 NXT + 13'177'994 NXT = 18340596 NXT @ 0.00007917 BTC = 1452.02 BTC   
TOKEN/BTCD   12,659.00 BTCD   @ 0.01455350 BTC = 184.23 BTC
TOKEN/BTC   608.50 BTC   
TOKEN/CNY   210K CNY   @ 2967 CNY/BTC = 70.78 BTC

2315.52 BTC equiv after 3.5 hrs


If this carries on, you'll be in danger of picking up 10% of NXT market cap as well as BTCD and BBR.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 05:46:19 pm
Yeah, but don't forget that there is a 15% discount calculated into todays price, which will gradually be removed over the next 2 weeks.
So, tomorrows price will be 0.0101 BTC, rising to 0.0115 by the end of the IPO.

It does look as though NXT on BTER is the cheapest buy strategy, considering that NXT price is rising faster than token price, as the bonus is being removed.
Be interesting to see how much BTC and BTCD are flowing in....

We'll see how it goes.....my personal strategy is to make small buys every day till the end of the IPO.

I'm curious to know how this 5% per day appreciation theory will work out, since if it's true then it will totally offset any 15% discount at the beginning.
Placed a btc order on BTER and a small NXT order on AE today. Will watch carefully to see if the NXT price goes up more than 1% per day. Until it stops, it makes sense to wait for any more purchases.
Somebody clever could probably track these things and provide a signal when it's the best time to buy.
i do not believe the 5% per day appreciation theory
I believe the 5% will make the price floor at around the current price
now, if people are realizing NXT is really cool from the SuperNET, that will of course have a lasting positive effect, but the 5% bonus is fixed, it is not 5% today, 10%, 15%, 20%, 25%,...

fixed 5% should not even be enough to make it worth arbitraging
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 05:49:18 pm
TOKEN/NXT   5,162,602.00 NXT + 13'177'994 NXT = 18340596 NXT @ 0.00007917 BTC = 1452.02 BTC   
TOKEN/BTCD   12,659.00 BTCD   @ 0.01455350 BTC = 184.23 BTC
TOKEN/BTC   608.50 BTC   
TOKEN/CNY   210K CNY   @ 2967 CNY/BTC = 70.78 BTC

2315.52 BTC equiv after 3.5 hrs


If this carries on, you'll be in danger of picking up 10% of NXT market cap as well as BTCD and BBR.
highly unlikely
1st hour surge is probably half the first day and the first day could be half the total, with a bump on Monday due to weekday and a bump on the last day of bonus and last day of fund raising.

We are on track to 10K BTC

James

P.S. Unless things start to snowball from social networking, media coverage and fiat investments. Remember there has been zero press and no time, so there is a possibility that every day raises ~1K BTC, possibly growing, but I put this in the possible but unexpected category
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 06, 2014, 05:53:50 pm
i do not believe the 5% per day appreciation theory
I believe the 5% will make the price floor at around the current price

It's one of those things that sounds too good to be true. But it makes sense for people to buy NXT up to 5% over the 24-hour average, right, thereby slowly bringing up the average?
Either way, I will hold off a couple of days before another purchase to see which way the wind's blowing. It should be pretty clear. I like the idea that it will anchor the prices somewhat and prevent crazy spikes.
Title: Re: SuperNET TOKEN from BTER
Post by: kodtycoon on September 06, 2014, 05:55:12 pm
TOKEN/NXT   5,162,602.00 NXT + 13'177'994 NXT = 18340596 NXT @ 0.00007917 BTC = 1452.02 BTC   
TOKEN/BTCD   12,659.00 BTCD   @ 0.01455350 BTC = 184.23 BTC
TOKEN/BTC   608.50 BTC   
TOKEN/CNY   210K CNY   @ 2967 CNY/BTC = 70.78 BTC

2315.52 BTC equiv after 3.5 hrs

If you paid more than the official price on bter, just make a support ticket and they will credit your account
 
If you paid more than 127 NXT on AE, I believe I have finished all the compensations. If you paid more then the official price of 127 NXT and have not received the additional TOKEN to get your ave price to the 127 NXT, then PM me

James

holy crap... :o

how much did etherum get?
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 06, 2014, 05:55:42 pm
Today the reverse take over (RTO) of Bitcoin has begun. In a few short years most Bitcoins will reside in a single escrow account and be traded using the AE as a legacy cryptocurrency for collectors as a keepsake.  8)

http://www.investopedia.com/terms/r/reversetakeover.asp
Title: Re: SuperNET TOKEN from BTER
Post by: costa2439 on September 06, 2014, 06:19:59 pm
TOKEN/NXT   5,162,602.00 NXT + 13'177'994 NXT = 18340596 NXT @ 0.00007917 BTC = 1452.02 BTC   
TOKEN/BTCD   12,659.00 BTCD   @ 0.01455350 BTC = 184.23 BTC
TOKEN/BTC   608.50 BTC   
TOKEN/CNY   210K CNY   @ 2967 CNY/BTC = 70.78 BTC

2315.52 BTC equiv after 3.5 hrs

If you paid more than the official price on bter, just make a support ticket and they will credit your account
 
If you paid more than 127 NXT on AE, I believe I have finished all the compensations. If you paid more then the official price of 127 NXT and have not received the additional TOKEN to get your ave price to the 127 NXT, then PM me

James

received, thank you
Title: Re: SuperNET TOKEN from BTER
Post by: Eadeqa on September 06, 2014, 06:32:31 pm
I still don't understand what's  SuperNET  and why should I invest in it. Anyone wants to post short explanation?
Title: Re: SuperNET TOKEN from BTER
Post by: wert on September 06, 2014, 06:40:39 pm
I still don't understand what's  SuperNET  and why should I invest in it. Anyone wants to post short explanation?
over-hyped speculation...
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 06, 2014, 06:41:08 pm
I still don't understand what's  SuperNET  and why should I invest in it. Anyone wants to post short explanation?

Read the supernet paper.
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 06, 2014, 06:46:08 pm

I still don't understand what's  SuperNET  and why should I invest in it. Anyone wants to post short explanation?

http://nxter.org/supernet-ico-has-started/
Title: Re: SuperNET TOKEN from BTER
Post by: bitme on September 06, 2014, 06:53:27 pm
I'm thinking of investing ~10M but one thing wonders me. Let's say I just want to sell  SuperNET asset  for more NXT that i invested. Let's say majority of people want the same and some  substantial part of NXT in circulation is going to be invested in SuperNET. Is it possible then to take out more NXT than had been put in?
Lets take some theoretical situation when 50% NXT are in SuperNET and  100% of people want to cash out more - it's impossible. What % makes it possible to cash out more than had been put in?
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 07:03:50 pm
I still don't understand what's  SuperNET  and why should I invest in it. Anyone wants to post short explanation?

Read the supernet paper.
eadeqa refuses to read more than a few sentences, other than that he is a decent guy with some REALLY good ideas every once in a while

James
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 07:08:05 pm
I'm thinking of investing ~10M but one thing wonders me. Let's say I just want to sell  SuperNET asset  for more NXT that i invested. Let's say majority of people want the same and some  substantial part of NXT in circulation is going to be invested in SuperNET. Is it possible then to take out more NXT than had been put in?
Lets take some theoretical situation when 50% NXT are in SuperNET and  100% of people want to cash out more - it's impossible. What % makes it possible to cash out more than had been put in?
I am confused. The "cashout" would be by selling it on the exchange or AE. Ah, ok so if you sell it on AE, you get the NXT but the other person gets the asset, so there is no net change.

The SuperNET assets would include BTC also, but unless a liquidation is triggered by 90% vote of assetholders, the SuperNET is staying in its structure
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 06, 2014, 07:16:28 pm
I still don't understand what's  SuperNET  and why should I invest in it. Anyone wants to post short explanation?

You can think of it as an ETF of different cryptoTokens with the SuperNET participants possibly earning payments as SuperNET is able to generate revenue. It also can be thought of as a Unifying network that allows coins to be transferred back and forth with each other. And, don't think of Nxt as a currency, think of it as a share in a distributed transaction network.

It's time to compare NXT to the NASDAQ OMX Group:
http://www.nasdaqomx.com/aboutus/company-information
http://finance.yahoo.com/q?s=ndaq&ql=1

Title: Re: SuperNET TOKEN from BTER
Post by: 2Kool4Skewl on September 06, 2014, 07:45:09 pm
Today the reverse take over (RTO) of Bitcoin has begun. In a few short years most Bitcoins will reside in a single escrow account and be traded using the AE as a legacy cryptocurrency for collectors as a keepsake.  8)

http://www.investopedia.com/terms/r/reversetakeover.asp

Lol   ;D
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 06, 2014, 08:04:54 pm
2315.52 BTC equiv after 3.5 hrs

(http://i.imgur.com/wXXI3kf.jpg)

* - at 100 USD price (and it took 2 months to get 99 participants)
Title: Re: SuperNET TOKEN from BTER
Post by: Damelon on September 06, 2014, 08:07:10 pm
A lot has changed in under one year.
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 06, 2014, 08:12:19 pm
2315.52 BTC equiv after 3.5 hrs

(http://i.imgur.com/wXXI3kf.jpg)

* - at 100 USD price (and it took 2 months to get 99 participants)

Mastercoin collected 6000 BTC before that.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 08:12:26 pm
2315.52 BTC equiv after 3.5 hrs

(http://i.imgur.com/wXXI3kf.jpg)

* - at 100 USD price (and it took 2 months to get 99 participants)
1% is currently 23 BTC, the rest are in escrow only for investments or other approved spendings
this is more like a company that a coin, even will have decentralized voting to decide on funding projects
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 06, 2014, 08:18:04 pm
Mastercoin collected 6000 BTC before that.

Mastercoin's IPO was conducted by a person with non-anonymous identity. Nxt started a whole bunch of IPOs conducted by anonyms and now we can observe how it progressed within less than a year.
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 06, 2014, 08:21:24 pm
Mastercoin collected 6000 BTC before that.

Mastercoin's IPO was conducted by a person with non-anonymous identity. Nxt started a whole bunch of IPOs conducted by anonyms and now we can observe how it progressed within less than a year.

That is true.
Title: Re: SuperNET TOKEN from BTER
Post by: TimmyD on September 06, 2014, 08:22:46 pm
bitcoins slowly getting cheaper so 2300 is the equiv to 21btc at beginning of nxt lol
Title: Re: SuperNET TOKEN from BTER
Post by: mikesbmw on September 06, 2014, 08:28:35 pm
You know what would be cool now? mgwEUR, mgwUSD!
(must be someone actively working on now ;) )
Title: Re: SuperNET TOKEN from BTER
Post by: _mr_e on September 06, 2014, 08:30:43 pm
You know what would be cool now? mgwEUR, mgwUSD!
(must be someone actively working on now ;) )

https://nxtforum.org/general-discussion/coinousd-asset-has-been-launched/
Title: Re: SuperNET TOKEN from BTER
Post by: salsacz on September 06, 2014, 08:33:21 pm
what if SuperNet is the main BCNext's project? Or it's just Decrits
Title: Re: SuperNET TOKEN from BTER
Post by: 2Kool4Skewl on September 06, 2014, 08:35:14 pm
2315.52 BTC equiv after 3.5 hrs

(http://i.imgur.com/wXXI3kf.jpg)

* - at 100 USD price (and it took 2 months to get 99 participants)

MEME OF THE DAY!
Title: Re: SuperNET TOKEN from BTER
Post by: cr7yp on September 06, 2014, 08:37:18 pm
I think we urgently need a wiki thread about superNET, because there are two many open questions. Unfortunately, I am not a good writer (English is not my native language). But I would do the translation.
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 08:58:57 pm
looks like the Token price on Bter has buoyed (likely cause the NXT price has stalled). Stable at 123 NXT per Token atm and has been slightly going up in the .XX range.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 06, 2014, 09:02:08 pm
I will be getting some sleep without alarm clock
I put a somewhat oversized sell wall so none of the madness from this morning should be possible
if the price is bad, plz do not complain I dont hear PMs when I am sleeping
bter should have a better price during my offline hours
Title: Re: SuperNET TOKEN from BTER
Post by: Wakasaki808 on September 06, 2014, 09:03:50 pm
I will be getting some sleep without alarm clock
I put a somewhat oversized sell wall so none of the madness from this morning should be possible
if the price is bad, plz do not complain I dont hear PMs when I am sleeping
bter should have a better price during my offline hours

night night :)

Have a good rest, good job with all the work you have done.
Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 06, 2014, 09:19:53 pm
I will be getting some sleep without alarm clock
I put a somewhat oversized sell wall so none of the madness from this morning should be possible
if the price is bad, plz do not complain I dont hear PMs when I am sleeping
bter should have a better price during my offline hours

Sleep well fair prince!
Title: Re: SuperNET TOKEN from BTER
Post by: Frohike on September 06, 2014, 09:40:36 pm
'night!

Have a good sleep after this exciting day!

And sure thanks for all the hard work!
Title: Re: SuperNET TOKEN from BTER
Post by: frohlocke on September 06, 2014, 10:12:51 pm
I will be getting some sleep without alarm clock
I put a somewhat oversized sell wall so none of the madness from this morning should be possible
if the price is bad, plz do not complain I dont hear PMs when I am sleeping
bter should have a better price during my offline hours
+1440 Congratulations!
Title: Re: SuperNET TOKEN from BTER
Post by: LibertyNow on September 06, 2014, 10:58:15 pm
I will be getting some sleep without alarm clock
I put a somewhat oversized sell wall so none of the madness from this morning should be possible
if the price is bad, plz do not complain I dont hear PMs when I am sleeping
bter should have a better price during my offline hours

Sell wall in which market?
Title: Re: SuperNET TOKEN from BTER
Post by: buybitcoinscanada on September 06, 2014, 10:59:42 pm
A
Title: Re: SuperNET TOKEN from BTER
Post by: valarmg on September 06, 2014, 11:00:23 pm

Sell wall in which market?
On Nxt AE:

You can see it here:
http://nxtreporting.com/?as=15641806960898178066
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 06, 2014, 11:24:22 pm
I know that most people here are pretty lazy when it comes to calculating prices. So here is a quick overview to show how elastic the NXT price really is!

(http://i.imgur.com/Pj5f1PI.png)
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 06, 2014, 11:39:51 pm
Who is that guy?

 NXT-JJEY-TWBC-6QAY-4H67A
Title: Re: SuperNET TOKEN from BTER
Post by: salsacz on September 06, 2014, 11:45:29 pm
canada probably
I have 2000txt I bought @40nxt/per = 80k Nxt.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 06, 2014, 11:57:55 pm
MICoin wants to help UNITY:

https://nxtforum.org/assets-board/(ann)(micoin)the-most-interesting-coin-in-the-world-pure-90-pom/msg97716/#msg97716

:)
Title: Re: SuperNET TOKEN from BTER
Post by: instacash on September 07, 2014, 12:21:00 am
Who is that guy?

 NXT-JJEY-TWBC-6QAY-4H67A

Balance can be traced back to this initial stakeholder xxxx who received xxxx back in the day.
edit: not sure

(above account posted by TwinWin holds 21000 TOKEN)
Title: Re: SuperNET TOKEN from BTER
Post by: salsacz on September 07, 2014, 12:24:02 am
yeah as I wrote it's buybitcoinscanada, our precious Bter seller: http://blocks.nxtcrypto.org/nxt/nxt.cgi?action=3000&acc=17066161622637477843
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 07, 2014, 12:45:14 am
canada probably
I have 2000txt I bought @40nxt/per = 80k Nxt.

Good catch.
Title: Re: SuperNET TOKEN from BTER
Post by: Windjc on September 07, 2014, 01:54:59 am
Bought 10k Tokens. Lets get ready to rumble. :)
Title: Re: SuperNET TOKEN from BTER
Post by: pf on September 07, 2014, 02:01:46 am
2315.52 BTC equiv after 3.5 hrs

(http://i.imgur.com/wXXI3kf.jpg)

* - at 100 USD price (and it took 2 months to get 99 participants)
this is my favorite post that i've ever seen yet
Title: Re: SuperNET TOKEN from BTER
Post by: frohlocke on September 07, 2014, 02:50:53 am
2315.52 BTC equiv after 3.5 hrs

(http://i.imgur.com/wXXI3kf.jpg)

* - at 100 USD price (and it took 2 months to get 99 participants)
this is my favorite post that i've ever seen yet

IMO it is funny nothing more nothing less.
World players were bulit on even less then 21 BTC. (I do not count inflation and ...)
Do not keep it that simple....

Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 07, 2014, 04:38:50 am
NXT escrow peoples for AE SuperNET NXT

I think it makes sense to have community members escrow the SuperNET NXT. I am ok with holding some few millions, but it is already getting close to 20 million and I want to distribute this across N trustees.

The trustees need to safekeep the NXT and disburse it when an authorization post is made in the official BTT thread for SuperNET. So, this requires following the SuperNET thread and posting that you will send the payment and then receiving a confirmation that you are the selected trustee to make the payment. Dont want to be making double payments!

I do not expect that such disbursements will be a frequent thing. Maybe there will be monthly votings for special expenditures, maybe less frequent, hard to tell. The NXTventure fundings would be on a case by case basis. In any case with N trustees and only needing one to be able to handle it, we might even get a pretty fast response time.

I would like nominations for people and then we can have some sort of ratification of the N trustees. We can keep this informal, so maybe people would post their nominee (including themselves) and then the nominated could post acceptance of responsibilities. As long as there are no screamings then they are added to the list of trustees.

James
Title: Re: SuperNET TOKEN from BTER
Post by: 2Kool4Skewl on September 07, 2014, 05:08:51 am

I like this moment. It's like the launch of the Asset Exchange !  8)

Not enough memes (http://tweakimg.net/g/s/coool.gif).

I would like to see a nice meme from 2Kool4Skewl about superNET...

Post one.  The more your meme, the more others meme. :)

I'm not in the same league as 2Kool4Skewl...  :D

(http://imgur.com/7kR6g7U.jpg)

(http://imgur.com/5ThWBN2.jpg)

Thank you for your support!   ;D
Title: Re: SuperNET TOKEN from BTER
Post by: Sebastien256 on September 07, 2014, 07:07:03 am
@2Kool4Skewl

nice one! lol
You make me laugh.
When I said I was not in the same league.... now people can understand.  :D
Title: Re: SuperNET TOKEN from BTER
Post by: wert on September 07, 2014, 07:07:44 am
I suppose there is no difference between Bter token and AE token...?

and I apologize for my words, that supernet is over-hyped speculation. I was tired yesterday and I still probably do not fully understand its potential. What I want to know - will supernet live on its own or will it depend on James?
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 07, 2014, 07:11:27 am
I suppose there is no difference between Bter token and AE token...?

and I apologize for my words, that supernet is over-hyped speculation. I was tired yesterday and I still probably do not fully understand its potential. What I want to know - will supernet live on its own or will it depend on James?
SuperNET is like a small snowball at the top of the mountain. I just made it to start rolling. It is much bigger than me. Soon any monkey could do what I am left to do about the SuperNET.

decentralized voting is deciding the new spendings. I just have small percentage of the funds preallocated to proven money making methods, but still a lot of the funds are idle so the community will be able to decide. Of course I will not be shy about my opinions for the spending proposals.

my goal is to become obsolete, but to still contribute as actively as possible

James
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 07, 2014, 07:32:38 am
not sure how this article came out so fast!
https://altcoinherald.com/supernet-seeks-unify-warring-altcoin-states/
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 07, 2014, 08:49:47 am
not sure how this article came out so fast!
https://altcoinherald.com/supernet-seeks-unify-warring-altcoin-states/

Nice bit of positive press james, how did they get that photo of you was your iCloud hacked :P
Title: Re: SuperNET TOKEN from BTER
Post by: landomata on September 07, 2014, 08:50:19 am
 :D ;D   Ethereum Banking Clan.


SuperNET Force join will I.
Title: Re: SuperNET TOKEN from BTER
Post by: Brangdon on September 07, 2014, 10:18:46 am
Is there a right up somewhere on how block times are set in nxt? I understand with PoW the time between blocks is set by the difficulty adjusted... How does this work in Nxt?
See https://wiki.nxtcrypto.org/wiki/Whitepaper:Nxt. Briefly, there is a difficulty which is adjusted after each block. The algorithm that makes the adjustment is known to be broken, so instead of giving an average of 60 seconds per block, it gives an average of twice that, and sometimes it allows the block time to be very large indeed (over 20 minutes). The devs know a better algorithm but decided it didn't need to be fixed; eventually "Transparent Forging" will be a more radical change that also fixes it.
Title: Re: SuperNET TOKEN from BTER
Post by: Brangdon on September 07, 2014, 10:24:09 am
I think it makes sense to have community members escrow the SuperNET NXT. I am ok with holding some few millions, but it is already getting close to 20 million and I want to distribute this across N trustees.
20 million is 2%. Is this likely to go over 5%? If so it could be the largest concentration of forging power known. If it goes over 20% then it starts getting into the "too big to fail" category.
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 07, 2014, 10:28:13 am
The algorithm that makes the adjustment is known to be broken, so instead of giving an average of 60 seconds per block, it gives an average of twice that

I wouldn't say it's broken. It's designed to give 1 min blocks in a network of competing forgers (those who try to maximize number of blocks forged by them and as the result to increase cumulative difficulty of the blockchain). We have 2 min blocks coz there is no incentive to forge.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 07, 2014, 11:01:22 am
I think it makes sense to have community members escrow the SuperNET NXT. I am ok with holding some few millions, but it is already getting close to 20 million and I want to distribute this across N trustees.
20 million is 2%. Is this likely to go over 5%? If so it could be the largest concentration of forging power known. If it goes over 20% then it starts getting into the "too big to fail" category.
I doubt it will go over 5%
It will be split up N ways between community approved escrow peoples
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 07, 2014, 11:07:25 am
It will be split up N ways between community approved escrow peoples

The problem of reaching a consensus in a decentralized community is not solvable coz there is no a solution to a problem of determining if an entity belongs to the community.  :)

Edit: One minute later I found a solution - force all SuperNET stakeholders to redeem their stake on the Nxt AE and do a voting of shareholders.
Title: Re: SuperNET TOKEN from BTER
Post by: Brangdon on September 07, 2014, 11:10:54 am
The algorithm that makes the adjustment is known to be broken, so instead of giving an average of 60 seconds per block, it gives an average of twice that

I wouldn't say it's broken.
I would. Threads like https://nxtforum.org/proof-of-stake-algorithm/forging-2088/20/ make it clear it wasn't supposed to behave the way it does. It's behaviour wasn't properly understood until June. Then it was decided not to risk changing it because (a) "I prefer not to change things I don't understand. BCNext gave this algo but didn't provide mathematical explanation" and (b) "Well, this algo will obsolete soon, maybe we can live with the current state of things 2 month more." (_mr_e may find the threads in that subforum interesting, in addition to the whitepaper I liked earlier.)

Quote
It's designed to give 1 min blocks in a network of competing forgers (those who try to maximize number of blocks forged by them and as the result to increase cumulative difficulty of the blockchain). We have 2 min blocks coz there is no incentive to forge.
The average two minute blocks aren't much of a problem. The 20 minute ones are. I don't think there's an upper bound on how long the algorithm might make us wait between blocks.
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 07, 2014, 11:24:04 am
I would. Threads like https://nxtforum.org/proof-of-stake-algorithm/forging-2088/20/ make it clear it wasn't supposed to behave the way it does.

We can only guess how it was supposed to work. My words were based on computational model of forging. The model says that forgers with almost unlimited computational power would generate blocks with 60 sec in average. This is easily proved by low-end math for a case of a single account, or u can prove it by using Excel for a case of 2 accounts (u will need 1 billion SHA256 hashes for a chain of 30 blocks).

PS: Assumptions of the thread u referenced r for a case of lazy forgers. It's an unreal situation coz in real world there will be attackers and those who will try to protect the blockchain.
Title: Re: SuperNET TOKEN from BTER
Post by: Brangdon on September 07, 2014, 12:30:31 pm
I'm going to drop this because it's off-topic here. _mr_e has enough links to answer his question.
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 07, 2014, 01:03:21 pm
As we near the 24-hour mark, do we have a total update? The SuperNET account on AE has 19 million NXT in it. BTER says 735 BTC for TOKEN on its front page, but I'm not sure if that's just for BTC.

I understand there is some FUD going round on BTT from the likes of rpietila. It would be good (in any case) to get some decent publicity out with the various outlets to address this and give SuperNET a better image/awareness amongst the BTC community. James has pointed out that proportionally, support from BTC is way down compared to NXT and BTCD, despite the opportunity there being a couple of orders of magnitude bigger.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 07, 2014, 01:41:32 pm
As we near the 24-hour mark, do we have a total update? The SuperNET account on AE has 19 million NXT in it. BTER says 735 BTC for TOKEN on its front page, but I'm not sure if that's just for BTC.

I understand there is some FUD going round on BTT from the likes of rpietila. It would be good (in any case) to get some decent publicity out with the various outlets to address this and give SuperNET a better image/awareness amongst the BTC community. James has pointed out that proportionally, support from BTC is way down compared to NXT and BTCD, despite the opportunity there being a couple of orders of magnitude bigger.

Maybe creating swarms on twitter for articles like this one?

https://altcoinherald.com/supernet-seeks-unify-warring-altcoin-states/

And links to the Q&A website?

http://supernet.answerbase.com/

And to posts from James like this one?

https://bitcointalk.org/index.php?topic=762346.msg8616105#msg8616105

and to the prospectus:

http://www.weebly.com/uploads/3/8/5/6/38564127/supernet.pdf

?_?
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 07, 2014, 01:46:53 pm
Crap!  Posted in the wrong thread.  Well, anyway, here's an inspirational image for y'all:

(http://i.imgur.com/GOt4AzP.png)
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 07, 2014, 01:51:53 pm
Thanks cobaltskky, good ideas. That's a great article.

All of this has got going without any 'real' publicity. There's a month to go, so if we get word out we can maybe get another bump of investment donations. This is the ultimate 'NXT inside' project :)
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 07, 2014, 02:00:37 pm
NXT escrow peoples for AE SuperNET NXT

I think it makes sense to have community members escrow the SuperNET NXT. I am ok with holding some few millions, but it is already getting close to 20 million and I want to distribute this across N trustees.

The trustees need to safekeep the NXT and disburse it when an authorization post is made in the official BTT thread for SuperNET. So, this requires following the SuperNET thread and posting that you will send the payment and then receiving a confirmation that you are the selected trustee to make the payment. Dont want to be making double payments!

I do not expect that such disbursements will be a frequent thing. Maybe there will be monthly votings for special expenditures, maybe less frequent, hard to tell. The NXTventure fundings would be on a case by case basis. In any case with N trustees and only needing one to be able to handle it, we might even get a pretty fast response time.

I would like nominations for people and then we can have some sort of ratification of the N trustees. We can keep this informal, so maybe people would post their nominee (including themselves) and then the nominated could post acceptance of responsibilities. As long as there are no screamings then they are added to the list of trustees.

James

I could escrow a 1-2 millions.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 07, 2014, 02:01:19 pm
Thanks cobaltskky, good ideas. That's a great article.

All of this has got going without any 'real' publicity. There's a month to go, so if we get word out we can maybe get another bump of investment donations. This is the ultimate 'NXT inside' project :)

Thanks. :)  I'm out of ideas except for swarming social media...it would be great if James or whale or anybody else on the "board" of UNITY would reach out to different crypto websites and offer interviews. :)
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 07, 2014, 02:02:08 pm
NXT escrow peoples for AE SuperNET NXT

I think it makes sense to have community members escrow the SuperNET NXT. I am ok with holding some few millions, but it is already getting close to 20 million and I want to distribute this across N trustees.

The trustees need to safekeep the NXT and disburse it when an authorization post is made in the official BTT thread for SuperNET. So, this requires following the SuperNET thread and posting that you will send the payment and then receiving a confirmation that you are the selected trustee to make the payment. Dont want to be making double payments!

I do not expect that such disbursements will be a frequent thing. Maybe there will be monthly votings for special expenditures, maybe less frequent, hard to tell. The NXTventure fundings would be on a case by case basis. In any case with N trustees and only needing one to be able to handle it, we might even get a pretty fast response time.

I would like nominations for people and then we can have some sort of ratification of the N trustees. We can keep this informal, so maybe people would post their nominee (including themselves) and then the nominated could post acceptance of responsibilities. As long as there are no screamings then they are added to the list of trustees.

James

I could escrow a 1-2 millions.

Maybe we should get this in a new thread?  It feel like it's going to get lost in here.

Creating one now...
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 07, 2014, 02:04:42 pm
I'm going to drop this because it's off-topic here.

Aye, indeed. I thought it was the pub thread (about price speculation).
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 07, 2014, 02:05:00 pm
Where to post nominations for escrow account holders:

https://nxtforum.org/nxt-projects/unity-(aka-supernet)-escrow-account-holders-call-for-nominations!/msg97902/#msg97902
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 07, 2014, 02:26:03 pm
PS I'm asking Damelon for a sub-board under NXT Projects to organize threads for UNITY.

EDIT: That doesn't mean you need to stop posting here. :)  I'll ask Damelon to move this thread once the sub-board is up...actually, I guess I shouldn't, because so much social media is linked to it?
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 07, 2014, 03:58:46 pm
1 Million MIC bounty for the best Unity marketing meme! :D

https://nxtforum.org/assets-board/(ann)(micoin)the-most-interesting-coin-in-the-world-pure-90-pom/msg97716/#msg97716
Title: Re: SuperNET TOKEN from BTER
Post by: oldnbold on September 07, 2014, 04:01:19 pm
Re: BTCD purchase of the token. I've just raised a support request with bter confirming that I deposited  BTCD which I used to buy Token at the quoted sell price. On the Sell panel an amount of Token appeared, as expected, but at the same time an Open Order also appeared and my purchase did not appear in the Trade History

I cancelled the open order and all my BTCD was re-credited to the Buy panel.

However the sell panel Token amount is still showing. I've logged out and back in and also logged in using a different browser. Same result: whilst my original deposit of BTCD appears on the Buy panel, the Token (the open order for which I had cancelled) is still showing on the Sell panel.

Anyone-else experienced the same problem or is it just me... ???
Title: Re: SuperNET TOKEN from BTER
Post by: Silvio on September 07, 2014, 05:53:26 pm
Does someone plan to write one wallet for all superNET coins? Maybe you thought about this already? There are some multi-wallets out there - but so far I can tell, for the first gen coins only. I bought into BBR & BTCD and would like to withdrawal them to my wallet(s)...
Title: Re: SuperNET TOKEN from BTER
Post by: salsacz on September 07, 2014, 07:28:14 pm
http://www.coinssource.com/supernets-coin-offering-raises-over-2000-bitcoins-hours/

Writing about James's stuff is always a purgatory  :D

pls retweet:
https://twitter.com/CoinsSource/status/508694921243398144

pls upvote:
http://www.reddit.com/r/CryptoCurrency/comments/2fqo86/supernets_coin_offering_raises_over_2000_bitcoins/
Title: Re: SuperNET TOKEN from BTER
Post by: Logan on September 07, 2014, 08:05:12 pm
There where more than 20 Millionen Nxt occupied by the IPO until now, congratulation for that.

You said you need BTC to buy the 10% share of the Supernet coins. Is there any plan how to convert the NXT into BTC? Thats a really big amount of coins.. i dont think the market can catch it up easily.

So in the end the 5% advantage for the NXT-Community can turn into a disadvantage because the price dont go up for months due to the fact potential new investors know that there will be a lot of big coin sales on bter, MGW etc in the future.

Do not get me wrong, i like that project. But iam also concerned about my investment in nxt. Especially if the project dont work as expected.

best regards
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 07, 2014, 08:08:39 pm
There where more than 20 Millionen Nxt occupied by the IPO until now, congratulation for that.

You said you need BTC to buy the 10% share of the Supernet coins. Is there any plan how to convert the NXT into BTC? Thats a really big amount of coins.. i dont think the market can catch it up easily.

So in the end the 5% advantage for the NXT-Community can turn into a disadvantage because the price dont go up for months due to the fact potential new investors know that there will be a lot of big coin sales on bter, MGW etc in the future.

Do not get me wrong, i like that project. But iam also concerned about my investment in nxt. Especially if the project dont work as expected.

best regards

That's a valid concern ... the most funds have been collected in Nxt so far. But that means there will be huge selling pressure if superNET decides to buy coins with it.
On the other hand I think I read that every investment made with Nxt or BTCD will be hold longterm.
Title: Re: SuperNET TOKEN from BTER
Post by: gs02xzz on September 07, 2014, 08:19:11 pm
There where more than 20 Millionen Nxt occupied by the IPO until now, congratulation for that.

You said you need BTC to buy the 10% share of the Supernet coins. Is there any plan how to convert the NXT into BTC? Thats a really big amount of coins.. i dont think the market can catch it up easily.

My guess is that SuperNet will hold this 20 millions of Nxt since Nxt is one of the core coins in SuperNet. I wonder if James wants to buy more Nxt or not. 20 millions is only 2% of NXT.
Title: Re: SuperNET TOKEN from BTER
Post by: Jacinto on September 07, 2014, 08:24:58 pm
There where more than 20 Millionen Nxt occupied by the IPO until now, congratulation for that.

You said you need BTC to buy the 10% share of the Supernet coins. Is there any plan how to convert the NXT into BTC? Thats a really big amount of coins.. i dont think the market can catch it up easily.

So in the end the 5% advantage for the NXT-Community can turn into a disadvantage because the price dont go up for months due to the fact potential new investors know that there will be a lot of big coin sales on bter, MGW etc in the future.

Do not get me wrong, i like that project. But iam also concerned about my investment in nxt. Especially if the project dont work as expected.

best regards

Very valid point I did not think until now...
Hope it is like gs02xzz has just said and these millions of NXTs are going to remain in HODL mode.
Title: Re: SuperNET TOKEN from BTER
Post by: eimon on September 07, 2014, 08:34:21 pm
There where more than 20 Millionen Nxt occupied by the IPO until now, congratulation for that.

You said you need BTC to buy the 10% share of the Supernet coins. Is there any plan how to convert the NXT into BTC? Thats a really big amount of coins.. i dont think the market can catch it up easily.

So in the end the 5% advantage for the NXT-Community can turn into a disadvantage because the price dont go up for months due to the fact potential new investors know that there will be a lot of big coin sales on bter, MGW etc in the future.

Do not get me wrong, i like that project. But iam also concerned about my investment in nxt. Especially if the project dont work as expected.

best regards

Very valid point I did not think until now...
Hope it is like gs02xzz has just said and these millions of NXTs are going to remain in HODL mode.

I'm not too concerned about this. NXT price has already gone UP due to buy incentive created by ICO. Also, selling some of NXT holdings will help distribution. SuperNET has created yet another NXT whale account, and reversed recent trend of improving distribution:

http://charts.nxtcrypto.org/cDistributionTopAccount.aspx
Title: Re: SuperNET TOKEN from BTER
Post by: sparta_cuss on September 07, 2014, 08:57:07 pm
The purchases of coins for SuperNET will be done off-exchange, which means anything can theoretically be exchanged.

(The following is just my interpretation of how the big coin purchases can go.) I think it is likely that the whales who will be selling those coins will want to hold NXT and BTCD at least as much as BTC. So it will not be necessary to exchange NXT for BTC in order to make those purchases.
Title: Re: SuperNET TOKEN from BTER
Post by: prometheus on September 07, 2014, 09:12:31 pm
There where more than 20 Millionen Nxt occupied by the IPO until now, congratulation for that.

You said you need BTC to buy the 10% share of the Supernet coins. Is there any plan how to convert the NXT into BTC? Thats a really big amount of coins.. i dont think the market can catch it up easily.

So in the end the 5% advantage for the NXT-Community can turn into a disadvantage because the price dont go up for months due to the fact potential new investors know that there will be a lot of big coin sales on bter, MGW etc in the future.

Do not get me wrong, i like that project. But iam also concerned about my investment in nxt. Especially if the project dont work as expected.

best regards

jl777 said coins (BTCD/NXT) would be held and not exchanged for BTC
Title: Re: SuperNET TOKEN from BTER
Post by: Logan on September 07, 2014, 09:24:33 pm
(The following is just my interpretation of how the big coin purchases can go.) I think it is likely that the whales who will be selling those coins will want to hold NXT and BTCD at least as much as BTC. So it will not be necessary to exchange NXT for BTC in order to make those purchases.

I dont think so. BTC is THE arithmetical unit in the altcoin-world and by far the most liquid crypto-currency. If i where selling big amounts of an altcoin, i would prefer BTC. And this statement of james at the BCT-Forum sounds to me like that he assumes that too:

Quote from: jl777
I will also accept BTCD, but BTC is the currency needed to purchase the new coins.
https://bitcointalk.org/index.php?topic=762346.msg8593197#msg8593197 (https://bitcointalk.org/index.php?topic=762346.msg8593197#msg8593197)




My guess is that SuperNet will hold this 20 millions of Nxt since Nxt is one of the core coins in SuperNet. I wonder if James wants to buy more Nxt or not. 20 millions is only 2% of NXT.
I was of the opinion that the (core)coins, which will provide services to other coins, are excluded from the 10% share-rule?

jl777 said coins (BTCD/NXT) would be held and not exchanged for BTC
But he has to do it sometimes, to buy the share of new supernet candidates.... that makes no sense for me.



Sorre for that english, i prefer german mostly  ;D
Title: Re: SuperNET TOKEN from BTER
Post by: prometheus on September 07, 2014, 09:33:15 pm

jl777 said coins (BTCD/NXT) would be held and not exchanged for BTC
But he has to do it sometimes, to buy the share of new supernet candidates.... that makes no sense for me.



Sorre for that english, i prefer german mostly  ;D

I asked the same question you did on BCT and he said he would hold. Maybe BTC raised will be used? Off-exchange trades using BTCD/NXT aren't acceptable, in my opinion. Coins could be dumped by other party with less of a vested interest in BTCD/NXT


lo siento, no hablo German amigo
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 07, 2014, 09:54:38 pm
There where more than 20 Millionen Nxt occupied by the IPO until now, congratulation for that.

You said you need BTC to buy the 10% share of the Supernet coins. Is there any plan how to convert the NXT into BTC? Thats a really big amount of coins.. i dont think the market can catch it up easily.

So in the end the 5% advantage for the NXT-Community can turn into a disadvantage because the price dont go up for months due to the fact potential new investors know that there will be a lot of big coin sales on bter, MGW etc in the future.

Do not get me wrong, i like that project. But iam also concerned about my investment in nxt. Especially if the project dont work as expected.

best regards
The NXT will primarily be used for NXTventure fundings of NXT based companies, most importantly all the Privatebet casino game asset companies. This is described in the BTT SuperNET thread. It is silly to sell the NXT when it can be used directly. I am only silly when I am around snot kittens

I have the largest NXT net worth at 88 million NXT. At least I think I am. I take care of my investments. I do not intend to hurt the value of the thing that is the majority of my net worth.

I started this thing called SuperNET with NXT Inside to SHOW the world the power of NXT.
this is much more powerful than the talking
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 07, 2014, 09:55:25 pm
There where more than 20 Millionen Nxt occupied by the IPO until now, congratulation for that.

You said you need BTC to buy the 10% share of the Supernet coins. Is there any plan how to convert the NXT into BTC? Thats a really big amount of coins.. i dont think the market can catch it up easily.

My guess is that SuperNet will hold this 20 millions of Nxt since Nxt is one of the core coins in SuperNet. I wonder if James wants to buy more Nxt or not. 20 millions is only 2% of NXT.
only opportunistic buying for NXT is planned
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 07, 2014, 09:56:23 pm
The purchases of coins for SuperNET will be done off-exchange, which means anything can theoretically be exchanged.

(The following is just my interpretation of how the big coin purchases can go.) I think it is likely that the whales who will be selling those coins will want to hold NXT and BTCD at least as much as BTC. So it will not be necessary to exchange NXT for BTC in order to make those purchases.
It will be community fund drive, see VRC
not exact but the community is required for such things
I am not going to use the exchange, this is insanity
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 07, 2014, 09:57:53 pm
(The following is just my interpretation of how the big coin purchases can go.) I think it is likely that the whales who will be selling those coins will want to hold NXT and BTCD at least as much as BTC. So it will not be necessary to exchange NXT for BTC in order to make those purchases.

I dont think so. BTC is THE arithmetical unit in the altcoin-world and by far the most liquid crypto-currency. If i where selling big amounts of an altcoin, i would prefer BTC. And this statement of james at the BCT-Forum sounds to me like that he assumes that too:

Quote from: jl777
I will also accept BTCD, but BTC is the currency needed to purchase the new coins.
https://bitcointalk.org/index.php?topic=762346.msg8593197#msg8593197 (https://bitcointalk.org/index.php?topic=762346.msg8593197#msg8593197)




My guess is that SuperNet will hold this 20 millions of Nxt since Nxt is one of the core coins in SuperNet. I wonder if James wants to buy more Nxt or not. 20 millions is only 2% of NXT.
I was of the opinion that the (core)coins, which will provide services to other coins, are excluded from the 10% share-rule?

jl777 said coins (BTCD/NXT) would be held and not exchanged for BTC
But he has to do it sometimes, to buy the share of new supernet candidates.... that makes no sense for me.



Sorre for that english, i prefer german mostly  ;D
some thousands of BTC is plenty
why all this worrying that I am going to do silly things
are you all playing with snot kittens today?
Title: Re: SuperNET TOKEN from BTER
Post by: The-Lawyer-of-NXT on September 07, 2014, 10:42:37 pm
love this project¡¡¡

good luck James ¡¡¡
Title: Re: SuperNET TOKEN from BTER
Post by: whale on September 07, 2014, 11:38:36 pm
Does someone plan to write one wallet for all superNET coins? Maybe you thought about this already? There are some multi-wallets out there - but so far I can tell, for the first gen coins only. I bought into BBR & BTCD and would like to withdrawal them to my wallet(s)...

We're already onto this.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 08, 2014, 12:01:08 am
Does someone plan to write one wallet for all superNET coins? Maybe you thought about this already? There are some multi-wallets out there - but so far I can tell, for the first gen coins only. I bought into BBR & BTCD and would like to withdrawal them to my wallet(s)...

We're already onto this.

That is HUGE.  Wow!  You huys weren't kidding about UNITY. :)
Title: Re: SuperNET TOKEN from BTER
Post by: lucky88888 on September 08, 2014, 01:58:08 am
my opinion to the escrows.
Quote
https://nxtforum.org/nxt-projects/unity-(aka-supernet)-escrow-account-holders-call-for-nominations!/msg98173/#msg98173






......JEDl777.....

hahahahah good one!
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 08, 2014, 07:05:37 am
...most importantly all the Privatebet casino game asset companies...

Any progress on SatoshiDice 2, btw?
Title: Re: SuperNET TOKEN from BTER
Post by: coinomat on September 08, 2014, 07:06:56 am
I might consider creating online wallet service for all the coins at coinomat
Does someone plan to write one wallet for all superNET coins? Maybe you thought about this already? There are some multi-wallets out there - but so far I can tell, for the first gen coins only. I bought into BBR & BTCD and would like to withdrawal them to my wallet(s)...

We're already onto this.

That is HUGE.  Wow!  You huys weren't kidding about UNITY. :)
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 08, 2014, 07:24:38 am
...most importantly all the Privatebet casino game asset companies...

Any progress on SatoshiDice 2, btw?
waiting for a design doc, hopefully get it soon and if you signoff on it we should be able to get it done reasonably fast
all the DAC stuff would be V2
Title: Re: SuperNET TOKEN from BTER
Post by: Logan on September 08, 2014, 08:29:05 am
some thousands of BTC is plenty
why all this worrying that I am going to do silly things
are you all playing with snot kittens today?
Because its not easy to understand your construct of funds and projects. It sounds very nice, unity and revolution and so on, great. But the interweaving is very opaque for me. I readed a lot of Forum-Threads, papers and news over the weekend but still dont understand all.

Is there any graphical explanation?
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 08, 2014, 08:42:40 am
Because its not easy to understand your construct of funds and projects. It sounds very nice, unity and revolution and so on, great. But the interweaving is very opaque for me. I readed a lot of Forum-Threads, papers and news over the weekend but still dont understand all.

Is there any graphical explanation?

(http://s16.postimg.org/rq4ve1v2t/roi.png)
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 08, 2014, 09:21:29 am
I might consider creating online wallet service for all the coins at coinomat
Does someone plan to write one wallet for all superNET coins? Maybe you thought about this already? There are some multi-wallets out there - but so far I can tell, for the first gen coins only. I bought into BBR & BTCD and would like to withdrawal them to my wallet(s)...

We're already onto this.

That is HUGE.  Wow!  You huys weren't kidding about UNITY. :)

Great news, whale, can’t wait to see this!
Might it be possible, through coinomat and/or nxthaus, to integrate a fiat exchange in the SuperNET wallet? This would be complete awesomeness. Via InstantDEX and other services, it would allow direct fiat purchase and sale and all SuperNET currencies and assets. One-stop-shop for everything.
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 08, 2014, 09:44:59 am
Could people share this around: https://bitscan.com/articles/welcome-to-the-supernet
I'd do it myself but it would look bad coming from me, especially on BTT boards where BitScan is in my sig :)
Thanks!
Title: Re: SuperNET TOKEN from BTER
Post by: TheCryptoWoman on September 08, 2014, 10:07:51 am
Could people share this around: https://bitscan.com/articles/welcome-to-the-supernet
I'd do it myself but it would look bad coming from me, especially on BTT boards where BitScan is in my sig :)
Thanks!

Helped you out on FB, Google, Twitter and Reddit
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 08, 2014, 10:10:42 am
Could people share this around: https://bitscan.com/articles/welcome-to-the-supernet
I'd do it myself but it would look bad coming from me, especially on BTT boards where BitScan is in my sig :)
Thanks!

Helped you out on FB, Google, Twitter and Reddit

Thanks as ever, QBTC!
Title: Re: SuperNET TOKEN from BTER
Post by: rudeboi on September 08, 2014, 12:42:08 pm

Because its not easy to understand your construct of funds and projects. It sounds very nice, unity and revolution and so on, great. But the interweaving is very opaque for me. I readed a lot of Forum-Threads, papers and news over the weekend but still dont understand all.

Is there any graphical explanation?

(http://s16.postimg.org/rq4ve1v2t/roi.png)

Nice image, all makes perfect sense to me now!
Title: Re: SuperNET TOKEN from BTER
Post by: gvans on September 08, 2014, 12:59:31 pm

Nice image, all makes perfect sense to me now!

This convinced me too! Sold my crypti and bought 100 tokens ;D
Title: Re: SuperNET TOKEN from BTER
Post by: kodtycoon on September 08, 2014, 01:40:09 pm
Is the ipo closed?

Sent from my C1905 using Tapatalk

Title: Re: SuperNET TOKEN from BTER
Post by: TimmyD on September 08, 2014, 01:43:00 pm
Who is responsible for vetting coins to be added to the supernet?
New coin released last week LTCD would go nicley with BTCD and the rest. could complete the 2.0 Group.
Title: Re: SuperNET TOKEN from BTER
Post by: Steve on September 08, 2014, 01:44:32 pm
lol this would happen well I went long on NxttyCoin
Title: Re: SuperNET TOKEN from BTER
Post by: whale on September 08, 2014, 01:54:03 pm
Who is responsible for vetting coins to be added to the supernet?
New coin released last week LTCD would go nicley with BTCD and the rest. could complete the 2.0 Group.

(http://i.imgur.com/xO3KpWp.jpg)


You can send through any coin suggestions to me.
Title: Re: SuperNET TOKEN from BTER
Post by: whale on September 08, 2014, 01:56:04 pm
I might consider creating online wallet service for all the coins at coinomat
Does someone plan to write one wallet for all superNET coins? Maybe you thought about this already? There are some multi-wallets out there - but so far I can tell, for the first gen coins only. I bought into BBR & BTCD and would like to withdrawal them to my wallet(s)...

We're already onto this.

That is HUGE.  Wow!  You huys weren't kidding about UNITY. :)

Great news, whale, can’t wait to see this!
Might it be possible, through coinomat and/or nxthaus, to integrate a fiat exchange in the SuperNET wallet? This would be complete awesomeness. Via InstantDEX and other services, it would allow direct fiat purchase and sale and all SuperNET currencies and assets. One-stop-shop for everything.

I finished my part today, so it is up to James when he wants to announce  ;)
Title: Re: SuperNET TOKEN from BTER
Post by: Breasal on September 08, 2014, 03:00:38 pm
I bought 1/4 TOKENS on Bter and 3/4 on NXT AE. I'm now wanting to sell back my TOKENS on Bter (bought using NXT) and buy back in on NXT AE to consolidate.

Apparently James you were going to allow sell back on Bter for equal or less value than current asking price. Will this be implemented soon?

EDIT: I'm currently getting denied this option when I try and sell TOKENS on Bter for 1 NXT cheaper than asking.
Title: Re: SuperNET TOKEN from BTER
Post by: theironman on September 08, 2014, 03:00:46 pm

Because its not easy to understand your construct of funds and projects. It sounds very nice, unity and revolution and so on, great. But the interweaving is very opaque for me. I readed a lot of Forum-Threads, papers and news over the weekend but still dont understand all.

Is there any graphical explanation?

(http://s16.postimg.org/rq4ve1v2t/roi.png)

Nice image, all makes perfect sense to me now!

Yep, I got it now too. Thanks for the pointers :D
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 08, 2014, 03:05:29 pm
I bought 1/4 TOKENS on Bter and 3/4 on NXT AE. I'm now wanting to sell back my TOKENS on Bter (bought using NXT) and buy back in on NXT AE to consolidate.

Apparently James you were going to allow sell back on Bter for equal or less value than current asking price. Will this be implemented soon?

EDIT: I'm currently getting denied this option when I try and sell TOKENS on Bter for 1 NXT cheaper than asking.

Why not just wait the 2-4 weeks and withdraw your BTER UNITY to the AE?
Title: Re: SuperNET TOKEN from BTER
Post by: Breasal on September 08, 2014, 05:23:27 pm
I bought 1/4 TOKENS on Bter and 3/4 on NXT AE. I'm now wanting to sell back my TOKENS on Bter (bought using NXT) and buy back in on NXT AE to consolidate.

Apparently James you were going to allow sell back on Bter for equal or less value than current asking price. Will this be implemented soon?

EDIT: I'm currently getting denied this option when I try and sell TOKENS on Bter for 1 NXT cheaper than asking.

Why not just wait the 2-4 weeks and withdraw your BTER UNITY to the AE?

So I must have misunderstood about the purchase of TOKENS and UNITY dividends. I read somewhere that TOKENS purchased on Bter remain on Bter (and I thought must trade UNITY on Bter). From what you say, it seems that UNITY can be traded on any exchange offering. Is this true?

I own jl777hodl on the AE but haven't tried to trade as JLH on Polo...is this possible (I assume this is a similar case to UNITY once it replaces TOKENS)?
Title: Re: SuperNET TOKEN from BTER
Post by: Abraxas 147 on September 08, 2014, 05:30:51 pm
Quote
So I must have misunderstood about the purchase of TOKENS and UNITY dividends. I read somewhere that TOKENS purchased on Bter remain on Bter (and I thought must trade UNITY on Bter). From what you say, it seems that UNITY can be traded on any exchange offering. Is this true?

I own jl777hodl on the AE but haven't tried to trade as JLH on Polo...is this possible (I assume this is a similar case to UNITY once it replaces TOKENS)?

Exactly. Once the ICO is closed the TOKENS will be swapt to UNITY shares (on BTER and/or NXT AE depending where you purchased your TOKEN). After this is done, you can trade UNITY on BTER or transfer them to NXT AE and hodl or trade them there.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 08, 2014, 08:48:28 pm
Yay!  We got a subobard under NXT Projects for UNITY. :)

https://nxtforum.org/unity/

Apparently, I am the mod?  :P
Title: Re: SuperNET TOKEN from BTER
Post by: swartzfeger on September 08, 2014, 09:04:20 pm
Yay!  We got a subobard under NXT Projects for UNITY. :)

https://nxtforum.org/unity/ (https://nxtforum.org/unity/)

Apparently, I am the mod?  :P


Congratulations, your Mod-ness :D
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 08, 2014, 10:37:12 pm
Can somebody please contact SecureAE? They are listing the wrong TOKEN asset! This is giving the SuperNET a bad name and making people lose money as SecureAE is allowing the purchase of the asset made my imposter. This is not making me happy at all.

I suggest they reimburse 100% of funds used to purchase the fake TOKEN asset that they are listing. That is the right thing to do, the total is over 100K NXT and rising.

James
Title: Re: SuperNET TOKEN from BTER
Post by: Eadeqa on September 09, 2014, 12:22:49 am

I suggest they reimburse 100% of funds used to purchase the fake TOKEN asset that they are listing.

That's a ridiculous request. SecureAE  is just a client and they have no control on who issues fake assets. 
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 12:39:50 am

I suggest they reimburse 100% of funds used to purchase the fake TOKEN asset that they are listing.

That's a ridiculous request. SecureAE  is just a client and they have no control on who issues fake assets.
so you are saying that when only 1 TOKEN asset (of the 3) is listed by default and has over 100K NXT of volume and when searching for "token" lists 2 with 0 volume and the one that is on the list with 100K+ NXT volume that secureAE has no need to do anything?

I sure am glad you are not issuing any assets or running any website for end users.
The people with more knowledge should help protect people with less knowledge.
I thought all your password concerns indicated you cared about users.

This is like the GUI suggesting to use the password 12345678, the user clicks OK and you tell them stupid user didnt you read about highentropy?

The user says, but I just followed what the GUI suggested.
What do you tell this user whose 10000 NXT got snatched in 0.12345678 seconds from his account?

James
Title: Re: SuperNET TOKEN from BTER
Post by: Eadeqa on September 09, 2014, 12:46:06 am
so you are saying that when only 1 TOKEN asset (of the 3) is listed by default and has over 100K NXT of volume and when searching for "token" lists 2 with 0 volume and the one that is on the list with 100K+ NXT volume that secureAE has no need to do anything?

Then that's a bug in the software, but they have no responsibility to pay people money for software bugs.  People should read the warning

Quote
Content and Liability Disclaimer

“Secure Asset Exchange” neither hosts nor operates the actual NXT decentralized exchange. The NXT “Asset Exchange” is operated by independently networked nodes located around the world.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 01:10:54 am
so you are saying that when only 1 TOKEN asset (of the 3) is listed by default and has over 100K NXT of volume and when searching for "token" lists 2 with 0 volume and the one that is on the list with 100K+ NXT volume that secureAE has no need to do anything?

Then that's a bug in the software, but they have no responsibility to pay people money for software bugs.  People should read the warning

Quote
Content and Liability Disclaimer

“Secure Asset Exchange” neither hosts nor operates the actual NXT decentralized exchange. The NXT “Asset Exchange” is operated by independently networked nodes located around the world.
you legal theories are very interesting.
However, regardless of if it is legally required or not, what is the right thing to do here?

You know my position, I know your position. There is no point in our trying to change each other's mind.

It is up to SAE to clarify their position

James
Title: Re: SuperNET TOKEN from BTER
Post by: Eadeqa on September 09, 2014, 03:44:45 am
you legal theories are very interesting.
However, regardless of if it is legally required or not, what is the right thing to do here?

It's not my legal position. It's a quote from their site when you sign up.  My position is that there is no way they should be paying for scam assets or software bugs.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 03:55:53 am
you legal theories are very interesting.
However, regardless of if it is legally required or not, what is the right thing to do here?

It's not my legal position. It's a quote from their site when you sign up.  My position is that there is no way they should be paying for scam assets or software bugs.
where does it say that it is possible for a listed asset to not be the real one? I didnt see that in the text you quoted
In any case are we going to shove some fine print as an excuse? Do we want happy customers or upset customers?
Title: Re: SuperNET TOKEN from BTER
Post by: mczarnek on September 09, 2014, 04:39:57 am
So SuperNET is basically a mutual fund for promising cryptos, right?
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 09, 2014, 04:45:20 am

I suggest they reimburse 100% of funds used to purchase the fake TOKEN asset that they are listing.

That's a ridiculous request. SecureAE  is just a client and they have no control on who issues fake assets.

Yes SecureAE is a client and in some ways its a bad client..
After much debate the NXT AE client was changed so people have to search for asset IDs to add before they can trade.
SecureAE has not implemented this in fact on there you do seem to get the whole shitlist as well as the legit assets.
Theyt could have changed this because they certainly have focussed on making spending BTC on there very easy so they must have a good dev.

Secondly in terms of exchanges for the ICO, BTER was managed, NXT AE was managed, SecureAE was not - maybe if they were this would have been avoided idk.

I would make one point - this is a screw up between two business activities - the SuperNet ICO and operations of SecureAE and I don't see why as proposed in one post why community funds should be hit to fill the hole.
Title: Re: SuperNET TOKEN from BTER
Post by: Eadeqa on September 09, 2014, 04:55:11 am
After much debate the NXT AE client was changed so people have to search for asset IDs to add before they can trade.

I was the first person to suggest that AE listing should be removed (remember?), and when it was removed, vast majority of posters weren't happy. The "debate" started only after the change was implemented.  Turns out that wasn't such a bad decision, after all.    SecureAE is the only lightweight client we have right now. I wouldn't be recommending it if we had an official lightweight client that worked without downloading the blockchain.





Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 05:31:40 am

I suggest they reimburse 100% of funds used to purchase the fake TOKEN asset that they are listing.

That's a ridiculous request. SecureAE  is just a client and they have no control on who issues fake assets.

Yes SecureAE is a client and in some ways its a bad client..
After much debate the NXT AE client was changed so people have to search for asset IDs to add before they can trade.
SecureAE has not implemented this in fact on there you do seem to get the whole shitlist as well as the legit assets.
Theyt could have changed this because they certainly have focussed on making spending BTC on there very easy so they must have a good dev.

Secondly in terms of exchanges for the ICO, BTER was managed, NXT AE was managed, SecureAE was not - maybe if they were this would have been avoided idk.

I would make one point - this is a screw up between two business activities - the SuperNet ICO and operations of SecureAE and I don't see why as proposed in one post why community funds should be hit to fill the hole.
NXTcommunityfunds is a privately funded fund where I have discretion over the funds usage.
If there is a problem then I wont use any of these funds
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 05:33:19 am

I suggest they reimburse 100% of funds used to purchase the fake TOKEN asset that they are listing.

That's a ridiculous request. SecureAE  is just a client and they have no control on who issues fake assets.

Yes SecureAE is a client and in some ways its a bad client..
After much debate the NXT AE client was changed so people have to search for asset IDs to add before they can trade.
SecureAE has not implemented this in fact on there you do seem to get the whole shitlist as well as the legit assets.
Theyt could have changed this because they certainly have focussed on making spending BTC on there very easy so they must have a good dev.

Secondly in terms of exchanges for the ICO, BTER was managed, NXT AE was managed, SecureAE was not - maybe if they were this would have been avoided idk.

I would make one point - this is a screw up between two business activities - the SuperNet ICO and operations of SecureAE and I don't see why as proposed in one post why community funds should be hit to fill the hole.
How do you suggest that I should have managed SecureAE?
I just didnt have time to check and see that they are listing a fake TOKEN and not the real one.
Title: Re: SuperNET TOKEN from BTER
Post by: 2Kool4Skewl on September 09, 2014, 05:37:04 am
So SuperNET is basically a mutual fund for promising cryptos, right?

Basically, yes.  It will also integrate NXT into all the coins and allow the coins to use each others' features.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 05:41:51 am
So SuperNET is basically a mutual fund for promising cryptos, right?

Basically, yes.  It will also integrate NXT into all the coins and allow the coins to use each others' features.
and monetize and revenue share
the ICO is at very close to book value, so any valuation from all the revenues (InstantDEX, Teleport, Privatebet, Tradebots, other coins and services) are priced at zero. It is all upside
when trading starts there will be a buywall at NAV, I am estimating will be around .0104 BTC based on current trends, but this is subject to change

James
Title: Re: SuperNET TOKEN from BTER
Post by: mczarnek on September 09, 2014, 05:53:25 am
What is the correct Asset ID for SuperNet Token assets?

Maybe list that in the first post?  I don't think it's SecureAE's fault.. they list all assets, just happens that someone decided to scam the community by using another asset with the same name.


I was the first person to suggest that AE listing should be removed (remember?)  and when it was removed, vast majority of posters weren't happy. Turns out that wasn't such a bad decision, after all.    SecureAE is the only lightweight client we have right now. I wouldn't be recommending it if we had an official lightweight client that worked without downloading the blockchain.

I understand why but personally it annoys me that you can't see all assets via the wallet.  I want one place and I go and see assets, including those that I haven't invested in (yet).  So I really hope that SecureAE doesn't remove that.

Maybe there is some way to add a verification link to assets?  Some place you can go to verify they are real?  Or signed by jl777 or something?

Just make sure a warning exists that assets may be fraudulent and you should double check the asset id before buying.
Title: Re: SuperNET TOKEN from BTER
Post by: 2Kool4Skewl on September 09, 2014, 06:20:27 am
What is the correct Asset ID for SuperNet Token assets?

15641806960898178066
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 06:53:52 am
What is the correct Asset ID for SuperNet Token assets?

Maybe list that in the first post?  I don't think it's SecureAE's fault.. they list all assets, just happens that someone decided to scam the community by using another asset with the same name.


I was the first person to suggest that AE listing should be removed (remember?)  and when it was removed, vast majority of posters weren't happy. Turns out that wasn't such a bad decision, after all.    SecureAE is the only lightweight client we have right now. I wouldn't be recommending it if we had an official lightweight client that worked without downloading the blockchain.

I understand why but personally it annoys me that you can't see all assets via the wallet.  I want one place and I go and see assets, including those that I haven't invested in (yet).  So I really hope that SecureAE doesn't remove that.

Maybe there is some way to add a verification link to assets?  Some place you can go to verify they are real?  Or signed by jl777 or something?

Just make sure a warning exists that assets may be fraudulent and you should double check the asset id before buying.
Official thread: https://bitcointalk.org/index.php?topic=762346.0
Title: Re: SuperNET TOKEN from BTER
Post by: Abraxas 147 on September 09, 2014, 06:56:47 am
I think a big problem which is appearing here is that the NXT client allows to create assets with names already existing. This makes it very easy for scammers to create fake assets (they just have to spend 1000 NXT and do some copy/paste). And there is no way to ensure that people will not rely on names of assets rather than id's. E.g. you can easyly use a tool like nxtreporting.com to look up an asset (name). Right now there are for example 3 TOKEN assets listed. So there is a potential risk that someone pick up the wrong id and enter it in the NXT client (this is not only a problem with secureAE I think).

Two suggestions:

Make it impossible to create assets with already existing names. Would help for the future.
Post a big warning in the client if someone enter an asset id with a name that is existing more than once. This could draw attention to a possible problem and lead people to double check there selection.

Title: Re: SuperNET TOKEN from BTER
Post by: Sebastien256 on September 09, 2014, 06:59:43 am
Make it impossible to create assets with already existing names. Would help for the future.

This has been discuss a lot in the past. The benefit of allowing non-unique name is greater than with only unique name. Only the asset ID is need to be unique. It is up to the investor to know what he is doing.

Post a big warning in the client if someone enter an asset id with a name that is existing more than once. This could draw attention to a possible problem and lead people to double check there selection.

This is already in the client.
Title: Re: SuperNET TOKEN from BTER
Post by: farl4bit on September 09, 2014, 07:15:15 am
I think a big problem which is appearing here is that the NXT client allows to create assets with names already existing. This makes it very easy for scammers to create fake assets (they just have to spend 1000 NXT and do some copy/paste). And there is no way to ensure that people will not rely on names of assets rather than id's. E.g. you can easyly use a tool like nxtreporting.com to look up an asset (name). Right now there are for example 3 TOKEN assets listed. So there is a potential risk that someone pick up the wrong id and enter it in the NXT client (this is not only a problem with secureAE I think).

Two suggestions:

Make it impossible to create assets with already existing names. Would help for the future.
Post a big warning in the client if someone enter an asset id with a name that is existing more than once. This could draw attention to a possible problem and lead people to double check there selection.

We had a big discussion about this in the beginning of the AE. Making unique asset names isn't a good solution. The names will all be registered in the beginning and the names can never be returned, because they are fixed on the blockchain. We now have a good solution, people just need to investigate before investing.

And I guess we can't change the system anymore.
Title: Re: SuperNET TOKEN from BTER
Post by: Abraxas 147 on September 09, 2014, 07:18:29 am
Quote
Make it impossible to create assets with already existing names. Would help for the future.

This has been discuss a lot in the past. The benefit of allowing non-unique name is greater than with only unique name. Only the asset ID is need to be unique. It is up to the investor to know what he is doing.

Sorry missed that discussion. What are the benefits? I compare the situation with exchanges in the real world. The asset name is - for me - like a ticker symbol. And you will not find any identical ticker symbols in real word exchanges. So why in cryptoland?

Quote
Post a big warning in the client if someone enter an asset id with a name that is existing more than once. This could draw attention to a possible problem and lead people to double check there selection.


This is already in the client.

That's great :-)
Title: Re: SuperNET TOKEN from BTER
Post by: Abraxas 147 on September 09, 2014, 07:19:51 am
Quote
We had a big discussion about this in the beginning of the AE. Making unique asset names isn't a good solution. The names will all be registered in the beginning and the names can never be returned, because they are fixed on the blockchain. We now have a good solution, people just need to investigate before investing.

And I guess we can't change the system anymore.

I see..., thanks for explaining it!
Title: Re: SuperNET TOKEN from BTER
Post by: Abraxas 147 on September 09, 2014, 07:23:37 am
BTW: Any updates on the amount of donations from the volunteers so far?  8)
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 09, 2014, 07:45:26 am
I compare the situation with exchanges in the real world. The asset name is - for me - like a ticker symbol. And you will not find any identical ticker symbols in real word exchanges. So why in cryptoland?

Asset ID = Ticker Symbol
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 09, 2014, 08:22:22 am

How do you suggest that I should have managed SecureAE?
I just didnt have time to check and see that they are listing a fake TOKEN and not the real one.

James, not a criticism just an observation for us all to learn from next time, actually I don't think it is your problem although I know you will feel a strong sense of responsibility to ensure anyone scammed is taken care of.

The NXT AE change in retrospect to require you to do due diligence to find a token to access an asset was a good one as it forces people to do some research.

SecureAE have removed the need for the users to do this and their name implies that the listings are somehow trustworthy so I actually think they have created a less safe environment as its easy to spend BTC on the wrong thing using their site...
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 08:26:37 am
BTW: Any updates on the amount of donations from the volunteers so far?  8)
1400 GMT totals for bter after 48 hrs

2014-09-08-14:00:02-GMT SOLD 184773.76681758 TOKEN
809.77367361 BTC, 7643600.83037591 NXT, 16540.68839868 BTCD, 531411.3109014 CNY

NXT AE I didnt snapshot at 1400, currently at 20860018.5840505

I leave it for someone else to calculate the BTC equiv using CMC price

James
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 09, 2014, 08:27:14 am

I would make one point - this is a screw up between two business activities - the SuperNet ICO and operations of SecureAE and I don't see why as proposed in one post why community funds should be hit to fill the hole.
NXTcommunityfunds is a privately funded fund where I have discretion over the funds usage.
If there is a problem then I wont use any of these funds

James, you know the ToR for the community funds far better than I do...

I just would not want to create the impression or precedent that as a result of the way another business operates 'SecureAE' the community foots the bill for their customers loss, if this puts you in a difficult position I am sorry.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 08:34:24 am

I would make one point - this is a screw up between two business activities - the SuperNet ICO and operations of SecureAE and I don't see why as proposed in one post why community funds should be hit to fill the hole.
NXTcommunityfunds is a privately funded fund where I have discretion over the funds usage.
If there is a problem then I wont use any of these funds

James, you know the ToR for the community funds far better than I do...

I just would not want to create the impression or precedent that as a result of the way another business operates 'SecureAE' the community foots the bill for their customers loss, if this puts you in a difficult position I am sorry.
I have full discretion
I think this helps the NXT community by creating a safer environment for assets, even though I issued this asset, I will own just a small percentage (max 10%)
I dont care about the 10K NXT, I am thinking that if the NXT communityfund is protecting the investors from being hurt, this will help the NXT
it is a close call
regardless I will be sending real TOKEN assets (at 127 price) to those that ended up buying the fake one
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 09, 2014, 08:37:06 am
I will be sending real TOKEN assets (at 127 price) to those that ended up buying the fake one

wish I made the scam asset and bought it myself :D
Title: Re: SuperNET TOKEN from BTER
Post by: devphp on September 09, 2014, 08:40:02 am
I will be sending real TOKEN assets (at 127 price) to those that ended up buying the fake one

wish I made the scam asset and bought it myself :D

Yeah, the scammer could be buying his own asset with different accounts, to show there is volume, and now he would be getting real TOKENs for free. Not good. Should stupidity and irresponsibility in dealing with money be punished or should there be hand holding all the time? I mean, how hard is it to read what you invest in and actually get the right asset id? Questions, questions... Hand holding has to stop at some point, you can't do that all the time, if you try - that creates large overhead expenses, that everybody else has to pay for out of their pockets. And that is socialism of sorts, which ends when they run out of other people's money.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 08:45:18 am
I will be sending real TOKEN assets (at 127 price) to those that ended up buying the fake one

wish I made the scam asset and bought it myself :D

Yeah, the scammer could be buying his own asset with different accounts, to show there is volume, and now he would be getting real TOKENs for free. Not good. Should stupidity and irresponsibility in dealing with money be punished or should there be hand holding all the time? I mean, how hard is it to read what you invest in and actually get the right asset id? Questions, questions... Hand holding has to stop at some point, you can't do that all the time, if you try - that creates large overhead expenses, that everybody else has to pay for out of their pockets. And that is socialism of sorts, which ends when they run out of other people's money.
the people's will have to make a claim
It is my money and my opinion is that it is worth it to help NXT image, I am not asking anybody else to pay
this was due to a display bug of some sort, not the user's fault
if we want to limit NXT usage to just the smartest 5% of people vs. all people, what would the difference in userbase be?
which do you prefer?
Title: Re: SuperNET TOKEN from BTER
Post by: devphp on September 09, 2014, 08:51:40 am
if we want to limit NXT usage to just the smartest 5% of people vs. all people, what would the difference in userbase be?
which do you prefer?

If you really want to know my opinion, I think it will end up like that naturally, no matter how much hand holding there is. 5% of all population using crypto currencies would even be a stretch to expect, the concept is too foreign and will continue to be that way. Also, when you do hand holding and make it too fool-proof, that creates disbalances and too much regulation, and some people would actually leave because of those disbalances and regulations. Would that be offset by newbies joining? Would those newbies be responsible enough if they don't learn from tough lessons and keep relying on someone to take care of them? I am of the opinion that there has to be consequences, otherwise people don't learn. But your mileage may vary. You're the boss of SuperNet anyway, I am just a guy with an opinion like everyone else :)
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 09, 2014, 08:57:25 am
if we want to limit NXT usage to just the smartest 5% of people vs. all people, what would the difference in userbase be?
which do you prefer?

If you really want to know my opinion, I think it will end up like that naturally, no matter how much hand holding there is. 5% of all population using crypto currencies would even be a stretch to expect, the concept is too foreign and will continue to be that way. Also, when you do hand holding and make it too fool-proof, that creates disbalances and too much regulation, and some people would actually leave because of those disbalances and regulations. Would that be offset by newbies joining? Would those newbies be responsible enough if they don't learn from tough lessons and keep relying on someone to take care of them? I am of the opinion that there has to be consequences, otherwise people don't learn. But your mileage may vary. You're the boss of SuperNet anyway, I am just a guy with an opinion like everyone else :)
you misunderstand
i did not say about getting 5% of people in crypto
what I am saying is that do we want 95% of people to have ZERO chance of using NXT? meaning the pool of possible users is top 5%, then lets make it harsh and brutal for anybody not smart enough
If we want the pool of people to be the top half of intelligence, then I think my approach is needed
but that is just my opinion
Title: Re: SuperNET TOKEN from BTER
Post by: Eadeqa on September 09, 2014, 09:09:06 am
I think a big problem which is appearing here is that the NXT client allows to create assets with names already existing.

This is horribly bad idea as it allows scammers to register and squat on all good asset names (bitcoin, ltc, Nem, etc). The best solution is already implemented. That is,  don't list asset laundry list,  and don't allow search by asset name.  I believe CIYAM and I were only people who were pushing for this, way back in march even before the AE went live  on mainet.  Everyone else, including jl7, were universally against this and wanted the full laundry list, just like SecureAE version.

If we want even stricter solution, totally remove asset name. That will kill the scams completely, but will make it unfriendly for users.
Title: Re: SuperNET TOKEN from BTER
Post by: devphp on September 09, 2014, 09:12:11 am
you misunderstand
i did not say about getting 5% of people in crypto
what I am saying is that do we want 95% of people to have ZERO chance of using NXT? meaning the pool of possible users is top 5%, then lets make it harsh and brutal for anybody not smart enough
If we want the pool of people to be the top half of intelligence, then I think my approach is needed
but that is just my opinion

I think you exaggerate to make your point. Using NXT has so many aspects. One doesn't need too much knowledge or brain power for that. Basically it's just learning to use the interface and basic password security/computer security and you'd be a user already.

What we're talking about here is using NXT to make profits by investing. That's more advanced usage, and prospective investors need to learn to perform due diligence on what they invest in. Ok, you compensate them this time for their own mistake, but there will be other cases where they will be burned, if they don't learn this time. Compensating them for their own mistakes allows them to think they can loosely manage their own money in the future, because someone else will pay for it, and one day they'll lose a lot of money and cry loud, only because they didn't pay a little money for the lessons in the past. After all, 90-95% of investors lose money, if investing and profiting was easy, everyone would be rich. It doesn't work this way. Anyway, I'll leave it at that, no point to add more.
Title: Re: SuperNET TOKEN from BTER
Post by: Mexxer on September 09, 2014, 09:14:08 am
I think a big problem which is appearing here is that the NXT client allows to create assets with names already existing.

This is horribly bad idea as it allows scammers to register and squat on all good asset names (bitcoin, ltc, Nem, etc). The best solution is already implemented. That is,  don't list asset laundry list,  and don't allow search by asset name.  I believe CIYAM and I were only people who were pushing for this, way back in march even before the AE went live  on mainet.  Everyone else, including jl7, were universally against this and wanted the full laundry list, just like SecureAE version.

If we want even stricter solution, totally remove asset name. That will kill the scams completely, but will make it unfriendly for users.

+1

The best solution is already implemented. The only thing we could maybe add would be a confirmation window the user has to click before submitting the asset buy, where it says that in big red letters to not give a crap about the name, but the asset ID is important and he should check before submitting the trade.

I hope this asset problem will be somewhat solved with the reputation system.
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 09, 2014, 09:18:15 am
I hope this asset problem will be somewhat solved with the reputation system.

We need third party services which list and rate assets and the ability to have some kind of add-on-functionality in the client GUI. Why the fuck did nobody made money out of running a crypto rating agency yet?
Title: Re: SuperNET TOKEN from BTER
Post by: Fatih87SK on September 09, 2014, 09:26:19 am
You guys think too much.

The solution is already there;

http://nxtreporting.com/ (http://nxtreporting.com/)

Get this in the client. Done.
Title: Re: SuperNET TOKEN from BTER
Post by: bitme on September 09, 2014, 09:38:10 am
It's so exciting looking the people trading scam supernet tokens
[links removed]
That sucks, if I'm reading it correctly.  Over 100,000 NXT were used to purchase scam assets between those two...

That is true. One guy bought 88K of fake asset.

88.5k actually;(. I was first time i got scammed in my over 3y crypto history - guess i'm getting to old for this;). When i bought false token it was only one on AE. I just acted too fast when jl777 posted he is going to issue TOKEN and there was no info about asset id then.
What is disgusting is people who bought this also and now try to sell knowing this is scam.
BTW. Is there a way to remove asset in nxt client?. I only see ADD ASSET option
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 09, 2014, 09:41:10 am
BTW. Is there a way to remove asset in nxt client?. I only see ADD ASSET option

right mouse click on asset
Title: Re: SuperNET TOKEN from BTER
Post by: starik69 on September 09, 2014, 10:03:12 am
Some James initiatives frighten me very much  :o
First, sell at 114, now compensate fake tokens  :-[
imho theese are terribly wrong and inadeqate  ::)
Title: Re: SuperNET TOKEN from BTER
Post by: TheCryptoWoman on September 09, 2014, 10:20:01 am
I hope this asset problem will be somewhat solved with the reputation system.

We need third party services which list and rate assets and the ability to have some kind of add-on-functionality in the client GUI. Why the fuck did nobody made money out of running a crypto rating agency yet?

http://assets.zone/

I started this project and abandoned it for several reasons. What you see at the above link is the very beginnings and my first draft of ideas. Would it be helpful to resurrect it? I would need to make very certain that it wasn't investment advice, just a reference tool. And because of the time Nxt projects are taking from my possible billable hours in my business, I would need to make sure it is a money maker for me. (Still have bills to pay :) )

And, I would want some input - feedback to make sure it is a useful tool.

Thoughts?
Title: Re: SuperNET TOKEN from BTER
Post by: Fatih87SK on September 09, 2014, 10:50:30 am
I hope this asset problem will be somewhat solved with the reputation system.

We need third party services which list and rate assets and the ability to have some kind of add-on-functionality in the client GUI. Why the fuck did nobody made money out of running a crypto rating agency yet?

http://assets.zone/

I started this project and abandoned it for several reasons. What you see at the above link is the very beginnings and my first draft of ideas. Would it be helpful to resurrect it? I would need to make very certain that it wasn't investment advice, just a reference tool. And because of the time Nxt projects are taking from my possible billable hours in my business, I would need to make sure it is a money maker for me. (Still have bills to pay :) )

And, I would want some input - feedback to make sure it is a useful tool.

Thoughts?

You don't see the problem here.

A 3rd party service that can rate assets won't help preventing people getting scammed.
This is what will happen;

1. James launches TOKEN.
2. 3rd Party service says; Awesome asset! Buy Asset ID 193924727347!
3. End user launches client and searches for the name 'Token'
4. Buys it and get scammed.

So this scenario won't change the current situation. Because we already publish the Asset ID.
What's the real problem then you ask? I pointed it out 20 x already > The client.

The client is not working intuitively. It's not working as a 'platform'. There are totally no tools to observe if an asset is a scam.
When I look at http://nxtreporting.com/ (http://nxtreporting.com/). I can give you an analysis within 5 minutes which asset is a scam and which asset is the real one of all assets that are excisting (only duplicates ofcourse). This is called an intuitive and interactive GUI for an end user. This is where we fail. No matter how hard you guys all think and try to solve it. The end user will not search for an Asset ID before he launches the client and look for the asset himself.

That's not how the world works so try not to fix it. Look at examples and try to learn how others are doing it.

IMO this is one of the biggest flaw in NXT right now for wide adoption. AE + MP are not user-friendly. Unfortunately I can't do nothing about it because I'm an end user. I can only point the problem out.
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 09, 2014, 11:43:01 am
1. James launches TOKEN.
2. 3rd Party service says; Awesome asset! Buy Asset ID 193924727347!
3. End user launches client and searches for the name 'Token'
4. Buys it and get scammed.

5. Enduser never comes back

Geat, we got rid of one idiot.
Title: Re: SuperNET TOKEN from BTER
Post by: Jacinto on September 09, 2014, 11:45:02 am
1. James launches TOKEN.
2. 3rd Party service says; Awesome asset! Buy Asset ID 193924727347!
3. End user launches client and searches for the name 'Token'
4. Buys it and get scammed.

5. Enduser never comes back

Geat, we got rid of one idiot.

LOL, NXT (as the world in general) is doomed without idiots.

Idiots make the world go around!
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 09, 2014, 11:55:23 am

LOL, NXT (as the world in general) is doomed without idiots.

Idiots make the world go around!
[/quote]

There is a little bit of idiot in everyone.  ;D
Title: Re: SuperNET TOKEN from BTER
Post by: Come-from-Beyond on September 09, 2014, 12:24:42 pm
if we want to limit NXT usage to just the smartest 5% of people vs. all people, what would the difference in userbase be?
which do you prefer?

Just 5% of the smartests. Cryptos won't leave the kindergarten if you babysit their users this way.
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 09, 2014, 12:29:19 pm
if we want to limit NXT usage to just the smartest 5% of people vs. all people, what would the difference in userbase be?
which do you prefer?

Just 5% of the smartests. Cryptos won't leave the kindergarten if you babysit their users this way.

It's the russian approach of education. Fail hard to learn for life.

(http://rockntech.com.br/wp-content/uploads/2014/07/gifs-russia_1.gif)
Title: Re: SuperNET TOKEN from BTER
Post by: _mr_e on September 09, 2014, 12:41:35 pm
Won't this compensation dilute everybody else's holdings?
Title: Re: SuperNET TOKEN from BTER
Post by: Dunster on September 09, 2014, 12:45:44 pm
Won't this compensation dilute everybody else's holdings?

It could also double compensate the scammer if he did the fake volume trick.
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 09, 2014, 12:51:53 pm
It could also double compensate the scammer if he did the fake volume trick.

(http://www.meme-generator.de/media/created/4tpfuu.jpg)
Title: Re: SuperNET TOKEN from BTER
Post by: nxtrules on September 09, 2014, 01:05:31 pm
Put it out on a website as a Json structure which can be fetched using an http request by securese and other sites. The list can be maintained by someone/group on this forum.

{spamAssets:[..]}
Title: Re: SuperNET TOKEN from BTER
Post by: superresistant on September 09, 2014, 01:05:48 pm
if we want to limit NXT usage to just the smartest 5% of people vs. all people, what would the difference in userbase be?
which do you prefer?
Just 5% of the smartests. Cryptos won't leave the kindergarten if you babysit their users this way.

Idiots have money.
We want money so we need idiots.
Title: Re: SuperNET TOKEN from BTER
Post by: jeff jefferson on September 09, 2014, 07:26:48 pm
y are people selling TOKEN on Bter for 0.00992?

aren't they simply losing money? or how can you profit from that?
Title: Re: SuperNET TOKEN from BTER
Post by: m30188 on September 09, 2014, 07:37:30 pm
1. James launches TOKEN.
2. 3rd Party service says; Awesome asset! Buy Asset ID 193924727347!
3. End user launches client and searches for the name 'Token'
4. Buys it and get scammed.

5. Enduser never comes back

Geat, we got rid of one idiot.

Most people in the world have never heard of bitcointalk.org, nxtforum.org, or jl777...and probably think [ANN] is a person. That doesn't make them idiots.
Title: Re: SuperNET TOKEN from BTER
Post by: smiley on September 09, 2014, 08:45:17 pm
.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 09, 2014, 08:53:52 pm


What does [ANN] mean?

Announcement.
Title: Re: SuperNET TOKEN from BTER
Post by: swartzfeger on September 09, 2014, 09:53:38 pm
There are totally no tools to observe if an asset is a scam.

There is a tool, and it's powerful -- it's called the human brain.

I'm seriously not trying to be glib or a smartass.

Back 'in the day', during the internet bubble's "irrational exuberance" (thanks, Greenspan!), I lost count of how many friends, colleagues etc that had their asses handed to them after becoming day traders.

Seatbelts, helmets, airbags... we can install all the safeguards we can dream up. Users still need to use their brains (and even then, NXT can evaporate with a single trade).
Title: Re: SuperNET TOKEN from BTER
Post by: sparta_cuss on September 09, 2014, 11:29:42 pm


What does [ANN] mean?

Announcement.

Ok, we're listening. Go ahead.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 10, 2014, 12:21:11 am


What does [ANN] mean?

Announcement.

Ok, we're listening. Go ahead.

I'm having chicken strips and curly fries for dinner.
Title: Re: SuperNET TOKEN from BTER
Post by: sparta_cuss on September 10, 2014, 12:34:16 am


What does [ANN] mean?

Announcement.

Ok, we're listening. Go ahead.

I'm having chicken strips and curly fries for dinner.

Interested.
Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 10, 2014, 03:04:31 am


What does [ANN] mean?

Announcement.

Ok, we're listening. Go ahead.

I'm having chicken strips and curly fries for dinner.

Interested.
+1
Arbys?
Title: Re: SuperNET TOKEN from BTER
Post by: swartzfeger on September 10, 2014, 04:07:52 am
Not to derail this with my off-topic bullshit, but I just rounded up my tokens to a very nice and even 500 on BTER tonight.


:D
Title: Re: SuperNET TOKEN from BTER
Post by: superresistant on September 10, 2014, 06:12:28 am
Not to derail this with my off-topic bullshit, but I just rounded up my tokens to a very nice and even 500 on BTER tonight.
:D

I bought 1000 straight  ;D
I may buy more when the trading start. I wait for the weak hand shake.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 10, 2014, 06:49:28 am
Not to derail this with my off-topic bullshit, but I just rounded up my tokens to a very nice and even 500 on BTER tonight.
:D

I bought 1000 straight  ;D
I may buy more when the trading start. I wait for the weak hand shake.
You do realize SuperNET will be placing a giant buywall at NAV when trading starts?
I estimate the NAV will be around .01

James
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 10, 2014, 07:03:25 am
Not to derail this with my off-topic bullshit, but I just rounded up my tokens to a very nice and even 500 on BTER tonight.
:D

I bought 1000 straight  ;D
I may buy more when the trading start. I wait for the weak hand shake.
You do realize SuperNET will be placing a giant buywall at NAV when trading starts?
I estimate the NAV will be around .01

James

James - given ongoing devaluation of BTC vs FIAT how are you measuring NAV of Supernet?

Or is it still the case that although Supernet will hold many coins, most coins are denominated in BTC and so therefore is Supernet?
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 10, 2014, 07:15:48 am
Not to derail this with my off-topic bullshit, but I just rounded up my tokens to a very nice and even 500 on BTER tonight.
:D

I bought 1000 straight  ;D
I may buy more when the trading start. I wait for the weak hand shake.
You do realize SuperNET will be placing a giant buywall at NAV when trading starts?
I estimate the NAV will be around .01

James

James - given ongoing devaluation of BTC vs FIAT how are you measuring NAV of Supernet?

Or is it still the case that although Supernet will hold many coins, most coins are denominated in BTC and so therefore is Supernet?
The NXT, BTCD and CNY will be converted to BTC equiv for the NAV calculation
As long as the SuperTraders are not losing money and the coin investments are holding steady, then the NAV should be reasonably stable. The CNY would counteract some BTC loss against fiat.

As the crypto changes in value, the NAV is updated, but with NXT, BTCD, CNY and BTC being a reasonably balanced portfolio, the biggest volatility factor will be the fact that it is so NXT heavy, so the NAV will be tracking NXT price more than anything else

It could be the NAV just goes up double digit percentage from NXT increasing. Since SuperNET will take quite some time to invest all that NXT, this is reducing the free floating NXT to some extent. Unlike the last surge, where it was sold back into the market, this time it is off market for some time

With the recognition of NXT in the greater crypto world, the long term price outlook is quite good, even without counting any explosion of userbase from the SuperNET expansion

James

numbers as of this morning:
2014-09-09-14:00:02-GMT SOLD 200185.94536881 TOKEN + 175852 via NXT = 376037.94536881

GOT 875.1554726 BTC, 8434944.45466576 + 22090263.3179905 NXT, 17079.72045772 BTCD, 594732.84333181 CNY

Twice as much NXT as BTC, with CNY and BTCD being less than 10%
Title: Re: SuperNET TOKEN from BTER
Post by: superresistant on September 10, 2014, 10:08:19 am
Not to derail this with my off-topic bullshit, but I just rounded up my tokens to a very nice and even 500 on BTER tonight.
:D
I bought 1000 straight  ;D
I may buy more when the trading start. I wait for the weak hand shake.
You do realize SuperNET will be placing a giant buywall at NAV when trading starts?
I estimate the NAV will be around .01
James

So it works exactly as sharkfund but at a much bigger scale ?
Would you let a large window for trading ?
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 10, 2014, 10:12:56 am
Buy all the NAVajocoins!
Title: Re: SuperNET TOKEN from BTER
Post by: Peter2516 on September 10, 2014, 06:32:25 pm
Start simple, not too many subfora. You can always make the forum structure more complex if needed later.
Also, keeping the different coins on one board, I think it promotes collaboration and the 'unity' feeling ;)
Else people would mostly visit their own coin-section.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 10, 2014, 09:03:02 pm
So, what's the current amount of funds raised?
Title: Re: SuperNET TOKEN from BTER
Post by: m30188 on September 10, 2014, 09:51:35 pm
So, what's the current amount of funds raised?
Bump
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 10, 2014, 10:24:15 pm
So, what's the current amount of funds raised?
Bump
as of this morning:

2014-09-10-14:00:01-GMT SOLD 202996.8564554 TOKEN,

 GOT 880.91744776 BTC, 8618489.29284713 + 22'235'801.54286195  NXT, 17648.81074836 BTCD, 597716.23386411 CNY

I dont have time to convert to BTC
A lot of weakhands are selling so there is churning and the net sales are slowed. I expect this will stabilize
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 10, 2014, 10:49:45 pm
So, what's the current amount of funds raised?
Bump
as of this morning:

2014-09-10-14:00:01-GMT SOLD 202996.8564554 TOKEN,

 GOT 880.91744776 BTC, 8618489.29284713 + 22'235'801.54286195  NXT, 17648.81074836 BTCD, 597716.23386411 CNY

I dont have time to convert to BTC
A lot of weakhands are selling so there is churning and the net sales are slowed. I expect this will stabilize

I wouldn't call them weak hands. If the "real" exchange rate (or NAV) is a few percentages below the price currently traded, it makes sense to sell now and rebuy in 24hours , when it adjusts.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 10, 2014, 10:56:00 pm
So, what's the current amount of funds raised?
Bump
as of this morning:

2014-09-10-14:00:01-GMT SOLD 202996.8564554 TOKEN,

 GOT 880.91744776 BTC, 8618489.29284713 + 22'235'801.54286195  NXT, 17648.81074836 BTCD, 597716.23386411 CNY

I dont have time to convert to BTC
A lot of weakhands are selling so there is churning and the net sales are slowed. I expect this will stabilize

I wouldn't call them weak hands. If the "real" exchange rate (or NAV) is a few percentages below the price currently traded, it makes sense to sell now and rebuy in 24hours , when it adjusts.
I am confused. Can you explain how that would work? The official price is increasing 1% per day, so the cost is increasing

There will be a buywall at NAV, but no sell wall. The sellside will float based on market price
Was I not clear about this?
Title: Re: SuperNET TOKEN from BTER
Post by: TwinWinNerD on September 10, 2014, 11:02:54 pm
So, what's the current amount of funds raised?
Bump
as of this morning:

2014-09-10-14:00:01-GMT SOLD 202996.8564554 TOKEN,

 GOT 880.91744776 BTC, 8618489.29284713 + 22'235'801.54286195  NXT, 17648.81074836 BTCD, 597716.23386411 CNY

I dont have time to convert to BTC
A lot of weakhands are selling so there is churning and the net sales are slowed. I expect this will stabilize

I wouldn't call them weak hands. If the "real" exchange rate (or NAV) is a few percentages below the price currently traded, it makes sense to sell now and rebuy in 24hours , when it adjusts.
I am confused. Can you explain how that would work? The official price is increasing 1% per day, so the cost is increasing

There will be a buywall at NAV, but no sell wall. The sellside will float based on market price
Was I not clear about this?


What I meant was:

If the BTC TOKEN price is at 0.010469 BTC
NXT TOKEN price should be at 0.010469*0.95/ NXT/BTC rate.
Right now that is 0.000082

So token price should be: 121,287

But it is not, it is at 127/125 on the AE and 127.69 on BTER.

If you now sell at the AE and wait for the correction, you can gain 3-5%.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 10, 2014, 11:06:16 pm
So, what's the current amount of funds raised?
Bump
as of this morning:

2014-09-10-14:00:01-GMT SOLD 202996.8564554 TOKEN,

 GOT 880.91744776 BTC, 8618489.29284713 + 22'235'801.54286195  NXT, 17648.81074836 BTCD, 597716.23386411 CNY

I dont have time to convert to BTC
A lot of weakhands are selling so there is churning and the net sales are slowed. I expect this will stabilize

I wouldn't call them weak hands. If the "real" exchange rate (or NAV) is a few percentages below the price currently traded, it makes sense to sell now and rebuy in 24hours , when it adjusts.
I am confused. Can you explain how that would work? The official price is increasing 1% per day, so the cost is increasing

There will be a buywall at NAV, but no sell wall. The sellside will float based on market price
Was I not clear about this?


What I meant was:

If the BTC TOKEN price is at 0.010469 BTC
NXT TOKEN price should be at 0.010469*0.95/ NXT/BTC rate.
Right now that is 0.000082

So token price should be: 121,287

But it is not, it is at 127/125 on the AE and 127.69 on BTER.

If you now sell at the AE and wait for the correction, you can gain 3-5%.
24hr moving average is slow to change, I guess this is some sort of way to play the odds of NXT price holding at least steady
just dont complain if it doesnt work out like you are planning
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 12:44:23 am
I just posted https://bitcointalk.org/index.php?topic=684090.msg8768148#msg8768148 and one hour later pushed the latest source. I am working on debugging: https://bitcointalk.org/index.php?topic=762346.msg8662643;topicseen#msg8662643 so that we can do long distance Teleports

After being delayed by some non-coding stuff, I am back into coding mode, I had estimated 3.6 days for the debugging of Teleport to beta level, but added SuperNET requirements, so probably not till early next week for a beta release of my code. GUI timeframe, I am not sure

Looking for code reviewer(s). Maybe I will pay by the bug found?

James
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 04:30:51 am
[Proposed Change in Terms]

I would like to propose change the terms of the fund raising. I made an error in limiting the core assets to 10%, but it is impossible to know how significant this factor was in people's investment decision. In my mind, the SuperNET is optimal when it has the financing, revenues and advertising in balance and there is no way to achieve that based on the current funding levels.

I aim to solve this by guaranteeing to put into SuperNET a minimum of 241485 assets (24.15%) for all three core assets:

InstantDEX   241'485   1'000'000   24.15%   49   44.5   (has 30% of NXTventure) = 7.245%
Tradebots     241'485   1'000'000   24.15%   27   20    (has 18.5% JLH) = 4.46%
NXTprivacy   241'485   1'000'000   24.15%   40   39    (has 30% cryptocard + 60% Privatebet) = 7.245% + 14.49%

With 24.15% of each of the above three core assets, there is the following percentage that will be directly or indirectly owned:

InstantDEX 24.15%
Tradebots (NXTcoinsco) 24.15%
NXTprivacy 24.15%
Privatebet 14.49%
cryptocard 7.245%
NXTventure 7.245%
jl777hodl 4.46%

InstantDEX 10746082 NXT + Tradebots 4829700 NXT  + NXTprivacy  9417915 NXT  = 24993697 NXT @ .00008 = 1999.49 BTC
Current market value is right around 2000 BTC or around $1 million USD.

Now at current funding rate, this is about 30% of SuperNET, but I ask only for the following to be voted on. If this vote is rejected by majority, then my 2000 BTC of assets still stays and my percentage is the same at 10%.

If not rejected, 70% of SuperNET assets to match TOKEN and 30% of SuperNET assets are to be allocated as follows:

10% for the SuperNET account to be used for working capital, incentives/bounties, cryptoretsu, etc. These assets do not dilute the investors as the asset is owned by SuperNET itself and it will be used for maximizing the value of SuperNET

10% to jl777

performance bonus for jl777:
5% if Top 10* coinmarketcap is achieved before end of 2014
5% if Top 5* coinmarketcap is achieved before end of 2015
(*) must be at or above this position for a full 24hrs
In the event a marketcap milestone is not achieved, then the conditional bonus percentage would go to the SuperNET account to be used as above.

The maximum dilution with the above is 20% and that is only if SuperNET is achieving a Top 5 marketcap and a likely 10x. So, I am putting my money where my mouth is. It is possible to miss the Top 10 by year end 2014 and still achieve Top 5 by year end 2015.

My goal is to make sure SuperNET is as powerful as it can be and this requires balance. I believe that the above plan benefits the SuperNET assetholders due to the creation of a source of working capital and incentives and I hope that upon achieving the 3x and 10x that the marketcap triggers require will make everyone think of happy generous bonus, though its not really a bonus as I will have already put more than 20%.

If you are asking why I would do such a thing, the answer is that I do my best to ensure good results for people who trust me with their money. Even if this means personally putting in $1 million USD.

Now I do not feel that the SuperNET will end up imbalanced and this alone is worth it. Of course I hope that my proposal wont be rejected. If anybody sees some improvements to be made, please post them before it is too late! Unless there is an outcry against this proposed change I will enact it. Since this is a change totally in the favor of the people with TOKEN and they will decide whether to accept the change from 10% to 30%, I feel it is acceptable to do, even though fund raising has started. To prevent any sort of arbitrage against the NAV buywall, the NAV will be calculated excluding the value of the core assets and the number of TOKEN instead of UNITY. I believe that is the correct method.

James
Title: Re: SuperNET TOKEN from BTER
Post by: damon on September 11, 2014, 04:57:05 am
A bit confusing - but anyone who is investing in Token, Unity, or SuperNet, most likely has faith in you - hence it will probably be OK..  BTW - what is NAV?  What is the difference between Token, Unity and the SuperNet?  Are they not interchangeable?
Title: Re: SuperNET TOKEN from BTER
Post by: swartzfeger on September 11, 2014, 05:10:31 am
A bit confusing - but anyone who is investing in Token, Unity, or SuperNet, most likely has faith in you - hence it will probably be OK..  BTW - what is NAV?  What is the difference between Token, Unity and the SuperNet?  Are they not interchangeable?

SuperNET is the platform/technology. Token is the virtual token that will be exchangeable for the Unity asset (which is backed by all the tech goodness and direct/indirect assets held by SuperNET). At least that's the way I understand it.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 05:11:26 am
A bit confusing - but anyone who is investing in Token, Unity, or SuperNet, most likely has faith in you - hence it will probably be OK..  BTW - what is NAV?  What is the difference between Token, Unity and the SuperNet?  Are they not interchangeable?
TOKEN are the assets that people are paying for.
SuperNET is the asset, UNITY is the trading symbol

I will be putting in my assets for X% of SuperNET, so there will be X% more SuperNET asset than TOKEN, but each TOKEN is 1:1 exchanged for SuperNET.

Let us say the 30% deal is approved. also to make the math easy, let us say that 7000 BTC of TOKEN are purchased (please ignore marketprice fluctuations), then we would have:

7000 BTC of SuperNET -> TOKEN holders
1000 BTC of SuperNET -> SuperNET
1000 BTC of SuperNET -> jl777
500 BTC of SuperNET -> jl777 if Top10 by end of 2014
500 BTC of SuperNET -> jl777 if Top5 by end of 2015

Since the 1000 BTC of SuperNET -> SuperNET is not dilutive, there is really 9000 BTC of SuperNET to count and the TOKEN holders are getting 7/9 = 77.777% in the event both bonuses are earned and 7/8 = 82.5% in case neither bonus is earned.
With 2000 BTC worth of assets, this makes its value a parity at 10000 BTC raised and anything below is in the favor of the TOKEN holders. Since the current pace is projecting to ~6000 BTC, the odds are 99% this will be favorable and probably quite favorable to the TOKEN holders.

Having me on the hook to achieve Top10 and Top5, well this alone could be making this worth doing.

James
Title: Re: SuperNET TOKEN from BTER
Post by: swartzfeger on September 11, 2014, 05:20:49 am
[Proposed Change in Terms]

James, it sounds like you're bullish. I like that. I vote yes.


EDIT: I just transferred more NXT to BTER to squeeze out a few more tokens. This could be a $40,000,000 marketcap before we know it.
Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 11, 2014, 05:29:59 am
Not to throw all the classic P/E ratios out the window, but 6k BTC puts it at almost 3M, and thats NAV, plus 10% for the SuperNet holding SuperNet.

IF 6600BTC worth of NAV plus the business plan isnt worth 3x out the gate, then this whole thing was a waste of time

Thats top 10 day one.

I'm fine with James getting a prize for his hard work. I know he takes care of his people. Lets build this rocket ship.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 05:41:04 am
[Proposed Change in Terms]

James, it sounds like you're bullish. I like that. I vote yes.


EDIT: I just transferred more NXT to BTER to squeeze out a few more tokens. This could be a $40,000,000 marketcap before we know it.
you could say I am betting ~$750K USD on being able to achieve Top5
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 05:42:46 am
Not to throw all the classic P/E ratios out the window, but 6k BTC puts it at almost 3M, and thats NAV, plus 10% for the SuperNet holding SuperNet.

IF 6600BTC worth of NAV plus the business plan isnt worth 3x out the gate, then this whole thing was a waste of time

Thats top 10 day one.

I'm fine with James getting a prize for his hard work. I know he takes care of his people. Lets build this rocket ship.
3x opening day is possible, but I think on the high end, but if we are not Top10 reasonably soon, I deserve to lose $750K

James
Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 11, 2014, 05:43:40 am
Not to throw all the classic P/E ratios out the window, but 6k BTC puts it at almost 3M, and thats NAV, plus 10% for the SuperNet holding SuperNet.

IF 6600BTC worth of NAV plus the business plan isnt worth 3x out the gate, then this whole thing was a waste of time

Thats top 10 day one.

I'm fine with James getting a prize for his hard work. I know he takes care of his people. Lets build this rocket ship.
3x opening day is possible, but I think on the high end, but if we are not Top10 reasonably soon, I deserve to lose $750K

James

agreed ;)
Title: Re: SuperNET TOKEN from BTER
Post by: NxtChoice on September 11, 2014, 05:50:53 am

I will be putting in my assets for X% of SuperNET, so there will be X% more SuperNET asset than TOKEN, but each TOKEN is 1:1 exchanged for SuperNET.


It needs to be clarified that only part of your assets will be put in SuperNET in your proposal, as we know your have more than 24.15% Nxtprivacy assets and other assets.

Anyway, I vote yes for your proposal.


Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 06:04:15 am

I will be putting in my assets for X% of SuperNET, so there will be X% more SuperNET asset than TOKEN, but each TOKEN is 1:1 exchanged for SuperNET.


It needs to be clarified that only part of your assets will be put in SuperNET in your proposal, as we know your have more than 24.15% Nxtprivacy assets and other assets.

Anyway, I vote yes for your proposal.
thank you for your support!
I hope valarmg will get the voting working in time.

I specified that the 24.15% for the three core assets in the original post, but yes this post in isolation is ambigous.
I felt $1 mil USD of assets was enough :)
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 06:08:22 am
[Dividend Announcement]

NXTventure will offer a 1:10 Privatebet dividend after the close of SuperNET funding. The ex-dividend block will be as of the close of the funding. Assetholders of record that block will receive the dividend.

For every 10 NXTventure assets you own, 1 Privatebet asset will be sent as a dividended. I believe this will set the record for the value of a dividend by a cryptoasset, as it is ~6 million NXT market value as I write this, or ~$240,000 USD

James
Title: Re: SuperNET TOKEN from BTER
Post by: Jimmy2011 on September 11, 2014, 06:10:08 am
[Proposed Change in Terms]



It's great. I vote yes.
Title: Re: SuperNET TOKEN from BTER
Post by: theironman on September 11, 2014, 06:18:04 am
The whole community is backing you up James and I do hope you get filthy rich in the process.
End of the day,however, it's about pushing the technology forward to make people's life's easier and to put them into control, so thanks for doing this.
Title: Re: SuperNET TOKEN from BTER
Post by: Abraxas 147 on September 11, 2014, 06:47:02 am
Quote
[Proposed Change in Terms]

I agree with your proposal! Will do my best to raise the total amount of TOKEN, too (although not playing in the same league) :)

Quote
[Dividend Announcement]

Great!

Title: Re: SuperNET TOKEN from BTER
Post by: tersagun on September 11, 2014, 07:46:42 am
I also do not see a reason to veto your proposal.
Keep up the good work James.
Title: Re: SuperNET TOKEN from BTER
Post by: LocoMB on September 11, 2014, 07:53:30 am
[Proposed Change in Terms]



sensible adjustment- I vote yes (although I have to admit that I do not understand 100% of ramifications.)

little side note: James once wrote to me that his operating principle in these things is to aim for creating situations where HE made a lot of money for OTHER people (of course while also benefiting himself), and that is a very sound operating principle!
Title: Re: SuperNET TOKEN from BTER
Post by: Ludom on September 11, 2014, 07:57:55 am
WHAT !!!

jl777 gives 2000 BTC in Assets to the SuperNET holding and receive only 1000 and maybe 1000 in bonus !

It's scandalous, I can suport such a scam !!!

James is highly scamed !!!
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 11, 2014, 08:03:57 am
Quote
jl777 gives 2000 BTC in Assets to the SuperNET holding and receive only 1000 and maybe 1000 in bonus !

I support the change in terms.
#10 and #5 CMC are no great stretch, and an extra 5% each is a good price to pay. Especially when it's arguably with James' own money :)
It's also remembering that NXT is also revaluing quite nicely at the moment, so any continued rise due to SuperNET will leverage any SuperNET gains.
Lots of win/win all round.
Title: Re: SuperNET TOKEN from BTER
Post by: Tosch110 on September 11, 2014, 08:06:45 am
Quote
jl777 gives 2000 BTC in Assets to the SuperNET holding and receive only 1000 and maybe 1000 in bonus !

I support the change in terms.
#10 and #5 CMC are no great stretch, and an extra 5% each is a good price to pay. Especially when it's arguably with James' own money :)
It's also remembering that NXT is also revaluing quite nicely at the moment, so any continued rise due to SuperNET will leverage any SuperNET gains.
Lots of win/win all round.

Yep, I think the same way. Support. :)
Title: Re: SuperNET TOKEN from BTER
Post by: superresistant on September 11, 2014, 08:33:54 am

I accept your investment of $750K James.
Let's reach the top 5.
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 09:06:26 am
WHAT !!!

jl777 gives 2000 BTC in Assets to the SuperNET holding and receive only 1000 and maybe 1000 in bonus !

It's scandalous, I can suport such a scam !!!

James is highly scamed !!!
actually i might only get 500 BTC worth
Title: Re: SuperNET TOKEN from BTER
Post by: salsacz on September 11, 2014, 10:21:13 am
A bit confusing - but anyone who is investing in Token, Unity, or SuperNet, most likely has faith in you - hence it will probably be OK..  BTW - what is NAV?  What is the difference between Token, Unity and the SuperNet?  Are they not interchangeable?
TOKEN are the assets that people are paying for.
SuperNET is the asset, UNITY is the trading symbol

I will be putting in my assets for X% of SuperNET, so there will be X% more SuperNET asset than TOKEN, but each TOKEN is 1:1 exchanged for SuperNET.

Let us say the 30% deal is approved. also to make the math easy, let us say that 7000 BTC of TOKEN are purchased (please ignore marketprice fluctuations), then we would have:

7000 BTC of SuperNET -> TOKEN holders
1000 BTC of SuperNET -> SuperNET
1000 BTC of SuperNET -> jl777
500 BTC of SuperNET -> jl777 if Top10 by end of 2014
500 BTC of SuperNET -> jl777 if Top5 by end of 2015

Since the 1000 BTC of SuperNET -> SuperNET is not dilutive, there is really 9000 BTC of SuperNET to count and the TOKEN holders are getting 7/9 = 77.777% in the event both bonuses are earned and 7/8 = 82.5% in case neither bonus is earned.
With 2000 BTC worth of assets, this makes its value a parity at 10000 BTC raised and anything below is in the favor of the TOKEN holders. Since the current pace is projecting to ~6000 BTC, the odds are 99% this will be favorable and probably quite favorable to the TOKEN holders.

Having me on the hook to achieve Top10 and Top5, well this alone could be making this worth doing.

James
still not explaimend the need of buying NAVajacoins
Title: Re: SuperNET TOKEN from BTER
Post by: cc001 on September 11, 2014, 10:26:20 am
still not explaimend the need of buying NAVajacoins

I guess James is referring to "Net Asset Value" with NAV, not NAVajacoins...
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 11, 2014, 10:27:22 am
still not explaimend the need of buying NAVajacoins

I guess James is referring to "Net Asset Value" with NAV, not NAVajacoins...

 ;D
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 11, 2014, 10:28:46 am
I vote with my small TOKEN HODLing to accept James proposal..

Had to read James update  twice but if you believe in the potential behind the asset swap that James is proposing its a significant kickstarter to super net.

Basically super net gets the assets, injects working capital into the assets its getting, pays 10% up front and then if it all works, james gets a 10% bonus.

This is my understanding and I think this is a good deal for the fund.
Title: Re: SuperNET TOKEN from BTER
Post by: chanc3r on September 11, 2014, 10:29:33 am
still not explaimend the need of buying NAVajacoins

I guess James is referring to "Net Asset Value" with NAV, not NAVajacoins...

 ;D

Lol has anyone created the NAVajacoin scam asset yet?
Title: Re: SuperNET TOKEN from BTER
Post by: cc001 on September 11, 2014, 10:31:42 am
still not explaimend the need of buying NAVajacoins

I guess James is referring to "Net Asset Value" with NAV, not NAVajacoins...

 ;D

Lol has anyone created the NAVajacoin scam asset yet?

lol, would be an instant buy, right salsa? ;)
Title: Re: SuperNET TOKEN from BTER
Post by: zuqka on September 11, 2014, 10:38:07 am
Did I got it right? As Nxt price rises the token price declines?
I got mine through AE for 127 now I see james offering it for 125!
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 11, 2014, 10:40:27 am
Did I got it right? As Nxt price rises the token price declines?
I got mine through AE for 127 now I see james offering it for 125!

No: the BTC price gently rises over 2 weeks. But since NXT has appreciated really quite nicely in the last few days, the TOKEN price has gone down in NXT terms.
Title: Re: SuperNET TOKEN from BTER
Post by: cc001 on September 11, 2014, 10:42:06 am
Did I got it right? As Nxt price rises the token price declines?
I got mine through AE for 127 now I see james offering it for 125!

No Yes: the BTC price gently rises over 2 weeks. But since NXT has appreciated really quite nicely in the last few days, the TOKEN price has gone down in NXT terms.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 11, 2014, 10:43:49 am
+1440 to James's proposal.

I don't really get it, but it sounds good. lol
Title: Re: SuperNET TOKEN from BTER
Post by: cc001 on September 11, 2014, 10:44:58 am
+1440 to James's proposal.

I don't really get it, but it sounds good. lol
I have the same feelings :)
Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 11, 2014, 10:50:10 am
+1440 to James's proposal.

I don't really get it, but it sounds good. lol
I have the same feelings :)

As I understand it:
James chucks in a load more revenue-generating assets, since the total funds raised may be slightly lower than projected.
In return, he gets bonus shares. But only after SuperNET reaches two major market cap milestones, meaning holders will be significantly rewarded too. Win/win.
Title: Re: SuperNET TOKEN from BTER
Post by: P2PGuy on September 11, 2014, 10:54:18 am
What's with all the scam assets. It's very off putting for outside/new investors to trust or have any long term attraction to NXT or any of it's associations. Especially as the community is recovering / dealing with millions of NXT being stolen by a hacker.

Case in point. I am looking at UNITY in the AE as (issued by) belonging to NXT-P7GF-X4TU-YSY8-APAZA with a caveat on the AE description as being: CAUTION: Asset SuperNET is a fake, disregard!

However thesuperNET.org website is saying only trust the official asset issued by NXT-MRBN-8DFH-PFMK-A4DBM - SuperNET TOKEN which I only know as the correct asset after receiving a personal message and a link from James....???

I'm going to remain neutral here but ask you:  where's the moral code here. A system of reference or a check point to block scam assets from the AE perhaps. 

 :-\
Title: Re: SuperNET TOKEN from BTER
Post by: kodtycoon on September 11, 2014, 10:54:50 am
when does the supernet toke sale end?
Title: Re: SuperNET TOKEN from BTER
Post by: cc001 on September 11, 2014, 10:55:24 am
+1440 to James's proposal.

I don't really get it, but it sounds good. lol
I have the same feelings :)

As I understand it:
James chucks in a load more revenue-generating assets, since the total funds raised may be slightly lower than projected.
In return, he gets bonus shares. But only after SuperNET reaches two major market cap milestones, meaning holders will be significantly rewarded too. Win/win.

thanks, Cassius, could you work as a translator  JamesTradingSlang<->UnderstandableEnglish ? ;)
Title: Re: SuperNET TOKEN from BTER
Post by: zuqka on September 11, 2014, 10:56:03 am
when does the supernet toke sale end?

I think in 2 weeks
Title: Re: SuperNET TOKEN from BTER
Post by: Fatih87SK on September 11, 2014, 10:56:07 am
I want to buy some Tokens.

So. All I have to do is buy from this sell order in the Asset Exchange right?
Or should I wait for james to offer more TOKEN assets at the right price? Or is this the right price?

(http://i.imgur.com/qfKShMA.png)
Title: Re: SuperNET TOKEN from BTER
Post by: Sebastien256 on September 11, 2014, 10:57:17 am
What's with all the scam assets. It's very off putting for outside/new investors to trust or have any long term attraction to NXT or any of it's associations. Especially as the community is recovering / dealing with millions of NXT being stolen by a hacker.

Case in point. I am looking at UNITY in the AE as (issued by) belonging to NXT-P7GF-X4TU-YSY8-APAZA with a caveat on the AE description as being: CAUTION: Asset SuperNET is a fake, disregard!

However thesuperNET.org website is saying only trust the official asset issued by NXT-MRBN-8DFH-PFMK-A4DBM - SuperNET TOKEN which I only know as the correct asset after receiving a personal message and a link from James....???

I'm going to remain neutral here but ask you:  where's the moral code here. A system of reference or a check point to block scam assets from the AE perhaps. 

 :-\

service to block scam asset must be built by the community, it is not the job of the Nxt devs to do that. That might come in the future, but nxt ecosystem around it's core is still very young. Give it time so it fully develloped in 5-10 years. Meanwhile, it is the investor job to make sure he bought not a fake asset.
Title: Re: SuperNET TOKEN from BTER
Post by: valarmg on September 11, 2014, 11:03:57 am
What's with all the scam assets. It's very off putting for outside/new investors to trust or have any long term attraction to NXT or any of it's associations. Especially as the community is recovering / dealing with millions of NXT being stolen by a hacker.

Case in point. I am looking at UNITY in the AE as (issued by) belonging to NXT-P7GF-X4TU-YSY8-APAZA with a caveat on the AE description as being: CAUTION: Asset SuperNET is a fake, disregard!

However thesuperNET.org website is saying only trust the official asset issued by NXT-MRBN-8DFH-PFMK-A4DBM - SuperNET TOKEN which I only know as the correct asset after receiving a personal message and a link from James....???

I'm going to remain neutral here but ask you:  where's the moral code here. A system of reference or a check point to block scam assets from the AE perhaps. 

 :-\

Who decides what's a scam asset and what isn't? One person might think the NxtStudios asset is a scam, another might think jl777hold is a scam.

The asset exchange is an open platform like the internet. There are scams on the internet--do we need someone to go through the internet and block all websites that they decide are scams? People send money to 'Nigerian princes' based on emails they have received. Does that mean there's something wrong with email?

People have to educate themselves about the asset exchange and do due diligence before buying.


Title: Re: SuperNET TOKEN from BTER
Post by: Cassius on September 11, 2014, 11:05:15 am

thanks, Cassius, could you work as a translator  JamesTradingSlang<->UnderstandableEnglish ? ;)

I don't pretend to understand half of it myself...
NB I think James' first language is C, or possibly assembler.
Title: Re: SuperNET TOKEN from BTER
Post by: cc001 on September 11, 2014, 11:08:16 am
NB I think James' first language is C, or possibly assembler.
... or http://en.wikipedia.org/wiki/Brainfuck :)
Title: Re: SuperNET TOKEN from BTER
Post by: MadCow on September 11, 2014, 12:03:42 pm
I support James' proposal 100%, It's a win-win!
Title: Re: SuperNET TOKEN from BTER
Post by: superresistant on September 11, 2014, 12:49:31 pm
Did I got it right? As Nxt price rises the token price declines?
I got mine through AE for 127 now I see james offering it for 125!

The price depend of the BTC/NXT price :

BTC/NXT up --> NXT/TOKEN down
BTC/NXT down --> NXT/TOKEN up
Title: Re: SuperNET TOKEN from BTER
Post by: zuqka on September 11, 2014, 01:06:58 pm
Did I got it right? As Nxt price rises the token price declines?
I got mine through AE for 127 now I see james offering it for 125!

The price depend of the BTC/NXT price :

BTC/NXT up --> NXT/TOKEN down
BTC/NXT down --> NXT/TOKEN up

I dont know whats the math behind it but I doesn't make me a happy investor :-\
127k nxt from three days ago shrank to 124.5k today and if Nxt keeps rising (hopefully) I have a chance of even losing more!

Oh happy days
Title: Re: SuperNET TOKEN from BTER
Post by: MrV777 on September 11, 2014, 01:08:54 pm
I dont know whats the math behind it but I doesn't make me a happy investor :-\
127k nxt from three days ago shrank to 124.5k today and if Nxt keeps rising (hopefully) I have a chance of even losing more!

Oh happy days

This was one of the conversations at the beginning of SuperNET.  If NXT's value rises more than the bonus we are getting, than the best day to invest would be the last day...
It's somewhat of a gamble and just depending on what you think NXT will do over the next few weeks.
Title: Re: SuperNET TOKEN from BTER
Post by: zuqka on September 11, 2014, 01:24:53 pm
I dont know whats the math behind it but I doesn't make me a happy investor :-\
127k nxt from three days ago shrank to 124.5k today and if Nxt keeps rising (hopefully) I have a chance of even losing more!

Oh happy days

This was one of the conversations at the beginning of SuperNET.  If NXT's value rises more than the bonus we are getting, than the best day to invest would be the last day...
It's somewhat of a gamble and just depending on what you think NXT will do over the next few weeks.

Yes though would understand it if I would have bought it with BTC or Bitcoindark in bter but this was with Nxt through AE so where did it lose value?
Title: Re: SuperNET TOKEN from BTER
Post by: MrV777 on September 11, 2014, 01:28:13 pm
jl777 has it priced in BTC.  So if the value of NXT goes up, the asset would go down, to keep it's BTC value the same.
Title: Re: SuperNET TOKEN from BTER
Post by: bizz on September 11, 2014, 01:29:43 pm
I dont know whats the math behind it but I doesn't make me a happy investor :-\
127k nxt from three days ago shrank to 124.5k today and if Nxt keeps rising (hopefully) I have a chance of even losing more!

Oh happy days

This was one of the conversations at the beginning of SuperNET.  If NXT's value rises more than the bonus we are getting, than the best day to invest would be the last day...
It's somewhat of a gamble and just depending on what you think NXT will do over the next few weeks.

Yes though would understand it if I would have bought it with BTC or Bitcoindark in bter but this was with Nxt through AE so where did it lose value?

Token  price is tied to BTC until the end of offering.
Title: Re: SuperNET TOKEN from BTER
Post by: valarmg on September 11, 2014, 01:29:59 pm

Yes though would understand it if I would have bought it with BTC or Bitcoindark in bter but this was with Nxt through AE so where did it lose value?

It didn't lose value. The superNet asset is priced in BTC. So the Nxt you own now has more buying power than it did several days ago.

But the net asset value of the superNet has gone up along with the price of Nxt, so what it is worth will likely be much higher than what it sells for during the IPO.
Title: Re: SuperNET TOKEN from BTER
Post by: zuqka on September 11, 2014, 01:34:30 pm
jl777 has it priced in BTC.  So if the value of NXT goes up, the asset would go down, to keep it's BTC value the same.

As a convinced Nxter owning 0% BTC I keep my finger crossed that BTC skyrockets and Nxt kisses the floor :o

Thank you James ;)
Title: Re: SuperNET TOKEN from BTER
Post by: valarmg on September 11, 2014, 01:37:36 pm
jl777 has it priced in BTC.  So if the value of NXT goes up, the asset would go down, to keep it's BTC value the same.

As a convinced Nxter owning 0% BTC I keep my finger crossed that BTC skyrockets and Nxt kisses the floor :o

Thank you James

So seem to be equating what its selling for with its value (that doesn't apply to an asset in the middle of an ICO done this way). It's value will become clear once the ICO is over. It's value might be double what it's selling for, but we won't know until the ICO is over.

Title: Re: SuperNET TOKEN from BTER
Post by: jefdiesel on September 11, 2014, 02:17:49 pm
jl777 has it priced in BTC.  So if the value of NXT goes up, the asset would go down, to keep it's BTC value the same.

As a convinced Nxter owning 0% BTC I keep my finger crossed that BTC skyrockets and Nxt kisses the floor :o

Thank you James

So seem to be equating what its selling for with its value (that doesn't apply to an asset in the middle of an ICO done this way). It's value will become clear once the ICO is over. It's value might be double what it's selling for, but we won't know until the ICO is over.

Value will be in BTC at end of ICO. There is chance of BTC slipping and therefore the FIAT value of SnotKittens may drop, but the BTC and holding values will not be affected.
We know there is a lot of instability in Crypto prices, but that is all exchange rate. At swap for Token to Unity, the price will convert from BTC to NXT, although I'm sure Bter will maintain a Unity/BTC market.
Title: Re: SuperNET TOKEN from BTER
Post by: Alisho on September 11, 2014, 02:23:31 pm
jl777 has it priced in BTC.  So if the value of NXT goes up, the asset would go down, to keep it's BTC value the same.

As a convinced Nxter owning 0% BTC I keep my finger crossed that BTC skyrockets and Nxt kisses the floor :o

Thank you James

So seem to be equating what its selling for with its value (that doesn't apply to an asset in the middle of an ICO done this way). It's value will become clear once the ICO is over. It's value might be double what it's selling for, but we won't know until the ICO is over.

Value will be in BTC at end of ICO. There is chance of BTC slipping and therefore the FIAT value of SnotKittens may drop, but the BTC and holding values will not be affected.
We know there is a lot of instability in Crypto prices, but that is all exchange rate. At swap for Token to Unity, the price will convert from BTC to NXT, although I'm sure Bter will maintain a Unity/BTC market.

So if I invest with BTC I'm just fine... even when BTC skyrockets? :)
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 11, 2014, 05:42:12 pm
We are in this whole cryptoverse not only for profit but because we believe in another power model: fancy peer to peer lateral distributed power. I hope everyone understands this when deciding things.

Boy will this be a nightmare in parts of the cryptoverse if James suddenly disappears one day (make ur own list of possible reasons) without finishing building distributed structures (developers, infrastructure, money, ...) beforehand.

For the record: I invested in his assets.
Title: Re: SuperNET TOKEN from BTER
Post by: msin on September 11, 2014, 05:54:32 pm
We are in this whole cryptoverse not only for profit but because we believe in another power model: fancy peer to peer lateral distributed power. I hope everyone understands this when deciding things.

Boy will this be a nightmare in parts of the cryptoverse if James suddenly disappears one day (make ur own list of possible reasons) without finishing building distributed structures (developers, infrastructure, money, ...) beforehand.

For the record: I invested in his assets.

Yeah, I always think about what would happen if certain members disappeared.  It's like when CFB was hit by a bus on vacation and spent a week in the hospital, we thought he was just coding, but in fact he was watching TV re-runs in his hospital bed.  On a side note, it did give him inspiration for Jinn. 

(disclaimer: I like to make things up)
Title: Re: SuperNET TOKEN from BTER
Post by: bitcoinpaul on September 11, 2014, 05:56:58 pm
(disclaimer: I like to make things up)

Every word was true.
Title: Re: SuperNET TOKEN from BTER
Post by: ShawnLeary on September 11, 2014, 06:08:19 pm
What's with all the scam assets. It's very off putting for outside/new investors to trust or have any long term attraction to NXT or any of it's associations. Especially as the community is recovering / dealing with millions of NXT being stolen by a hacker.

Case in point. I am looking at UNITY in the AE as (issued by) belonging to NXT-P7GF-X4TU-YSY8-APAZA with a caveat on the AE description as being: CAUTION: Asset SuperNET is a fake, disregard!

However thesuperNET.org website is saying only trust the official asset issued by NXT-MRBN-8DFH-PFMK-A4DBM - SuperNET TOKEN which I only know as the correct asset after receiving a personal message and a link from James....???

I'm going to remain neutral here but ask you:  where's the moral code here. A system of reference or a check point to block scam assets from the AE perhaps. 

 :-\

Who decides what's a scam asset and what isn't? One person might think the NxtStudios asset is a scam, another might think jl777hold is a scam.

The asset exchange is an open platform like the internet. There are scams on the internet--do we need someone to go through the internet and block all websites that they decide are scams? People send money to 'Nigerian princes' based on emails they have received. Does that mean there's something wrong with email?

People have to educate themselves about the asset exchange and do due diligence before buying.

Could not have said it any better.  The nanny state is not welcome here, stay in the fiat zone. 
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 06:45:11 pm
What's with all the scam assets. It's very off putting for outside/new investors to trust or have any long term attraction to NXT or any of it's associations. Especially as the community is recovering / dealing with millions of NXT being stolen by a hacker.

Case in point. I am looking at UNITY in the AE as (issued by) belonging to NXT-P7GF-X4TU-YSY8-APAZA with a caveat on the AE description as being: CAUTION: Asset SuperNET is a fake, disregard!

However thesuperNET.org website is saying only trust the official asset issued by NXT-MRBN-8DFH-PFMK-A4DBM - SuperNET TOKEN which I only know as the correct asset after receiving a personal message and a link from James....???

I'm going to remain neutral here but ask you:  where's the moral code here. A system of reference or a check point to block scam assets from the AE perhaps. 

 :-\

Who decides what's a scam asset and what isn't? One person might think the NxtStudios asset is a scam, another might think jl777hold is a scam.

The asset exchange is an open platform like the internet. There are scams on the internet--do we need someone to go through the internet and block all websites that they decide are scams? People send money to 'Nigerian princes' based on emails they have received. Does that mean there's something wrong with email?

People have to educate themselves about the asset exchange and do due diligence before buying.

Could not have said it any better.  The nanny state is not welcome here, stay in the fiat zone.
assets that are named after and even use the text descriptions of other assets are clearly scams
it is not being a nanny state to throw out the garbage
Title: Re: SuperNET TOKEN from BTER
Post by: innovator256 on September 11, 2014, 07:31:12 pm
What's with all the scam assets. It's very off putting for outside/new investors to trust or have any long term attraction to NXT or any of it's associations. Especially as the community is recovering / dealing with millions of NXT being stolen by a hacker.

Case in point. I am looking at UNITY in the AE as (issued by) belonging to NXT-P7GF-X4TU-YSY8-APAZA with a caveat on the AE description as being: CAUTION: Asset SuperNET is a fake, disregard!

However thesuperNET.org website is saying only trust the official asset issued by NXT-MRBN-8DFH-PFMK-A4DBM - SuperNET TOKEN which I only know as the correct asset after receiving a personal message and a link from James....???

I'm going to remain neutral here but ask you:  where's the moral code here. A system of reference or a check point to block scam assets from the AE perhaps. 

 :-\

Who decides what's a scam asset and what isn't? One person might think the NxtStudios asset is a scam, another might think jl777hold is a scam.

The asset exchange is an open platform like the internet. There are scams on the internet--do we need someone to go through the internet and block all websites that they decide are scams? People send money to 'Nigerian princes' based on emails they have received. Does that mean there's something wrong with email?

People have to educate themselves about the asset exchange and do due diligence before buying.

Could not have said it any better.  The nanny state is not welcome here, stay in the fiat zone.
assets that are named after and even use the text descriptions of other assets are clearly scams
it is not being a nanny state to throw out the garbage

PM'd take a look Important
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 08:05:46 pm
The transfers, they are done:

15720904723604126361
13969817255360149927   
616709295133043647

Now the SuperNET account has the core assets as described and it will thus get 24.15% of the dividends that these core assets will generate. I feel a happy balance.

http://nxtreporting.com/?a=NXT-MRBN-8DFH-PFMK-A4DBM&c=USD shows the SuperNET account
It currently has 23.5 million NXT and 26.3 million NXT worth of the core assets.

Let us calculate the TOKEN NAV and SuperNET NAV, the latter using core assets and assuming full 20% dilution.

2014-09-11-14:00:03-GMT SOLD 211012.56580535 TOKEN

928.44400974 BTC, 8955179.34129586 NXT, 18107.41954836 BTCD, 604418.27454791 CNY
NXT AE 23495504.342392 NXT for 187039 TOKEN

Total TOKEN: 398051.56580535
BTC 928.44400974
NXT 32450683.68368786 * .000085 = 2758.30811311 BTC
BTCD 18107.41954836 * 0.01398860 = 253.29744909 BTC
CNY 604418.27454791 @ 2930 = 206.2861 BTC
BTC equiv = 4146.33567247

TOKEN NAV = 0.01041658 BTC

If the UNITY trading is active, there would now be a 50 BTC buywall at 0.01041658 BTC

Now let us adjust this for the value of the core assets, the following I just cut and paste from the GUI:
InstantDEX   241'485   1'000'000   24.15%   48.98   45   10'866'825   
NXTcoinsco   241'485   1'000'000   24.15%   26.98        25   6'037'125
NXTprivacy   241'485   1'000'000   24.15%   43.9989   39   9'418'180
Total 26322130 NXT * .000085 = 2237.38105 BTC

Now we assume the "worst case" dilution where both bonuses are earned, which would mean there are a total of 497564.4573 SuperNET assets. You can check the math, 80% of this number is matching the number of TOKEN.

SuperNET NAV = (4146.33567247 + 2237.38105) / 497564.4573 = (6383.71672247 / 497564.4573) = 0.01282993 BTC

This is a 23% premium over the TOKEN NAV, even when using the 20% dilution.

I hope these calculations make it clearer how all this works

James
Title: Re: SuperNET TOKEN from BTER
Post by: kodtycoon on September 11, 2014, 08:21:24 pm
The transfers, they are done:

15720904723604126361
13969817255360149927   
616709295133043647

Now the SuperNET account has the core assets as described and it will thus get 24.15% of the dividends that these core assets will generate. I feel a happy balance.

http://nxtreporting.com/?a=NXT-MRBN-8DFH-PFMK-A4DBM&c=USD shows the SuperNET account
It currently has 23.5 million NXT and 26.3 million NXT worth of the core assets.

Let us calculate the TOKEN NAV and SuperNET NAV, the latter using core assets and assuming full 20% dilution.

2014-09-11-14:00:03-GMT SOLD 211012.56580535 TOKEN

928.44400974 BTC, 8955179.34129586 NXT, 18107.41954836 BTCD, 604418.27454791 CNY
NXT AE 23495504.342392 NXT for 187039 TOKEN

Total TOKEN: 398051.56580535
BTC 928.44400974
NXT 32450683.68368786 * .000085 = 2758.30811311 BTC
BTCD 18107.41954836 * 0.01398860 = 253.29744909 BTC
CNY 604418.27454791 @ 2930 = 206.2861 BTC
BTC equiv = 4146.33567247

TOKEN NAV = 0.01041658 BTC

If the UNITY trading is active, there would now be a 50 BTC buywall at 0.01041658 BTC

Now let us adjust this for the value of the core assets, the following I just cut and paste from the GUI:
InstantDEX   241'485   1'000'000   24.15%   48.98   45   10'866'825   
NXTcoinsco   241'485   1'000'000   24.15%   26.98        25   6'037'125
NXTprivacy   241'485   1'000'000   24.15%   43.9989   39   9'418'180
Total 26322130 NXT * .000085 = 2237.38105 BTC

Now we assume the "worst case" dilution where both bonuses are earned, which would mean there are a total of 497564.4573 SuperNET assets. You can check the math, 80% of this number is matching the number of TOKEN.

SuperNET NAV = (4146.33567247 + 2237.38105) / 497564.4573 = (6383.71672247 / 497564.4573) = 0.01282993 BTC

This is a 23% premium over the TOKEN NAV, even when using the 20% dilution.

I hope these calculations make it clearer how all this works

James

total account value: 7'437'808'473

7 billion nxt... 300 million usd... that is astonishing... :o
Title: Re: SuperNET TOKEN from BTER
Post by: jl777 on September 11, 2014, 08:54:28 pm
The transfers, they are done:

15720904723604126361
13969817255360149927   
616709295133043647

Now the SuperNET account has the core assets as described and it will thus get 24.15% of the dividends that these core assets will generate. I feel a happy balance.

http://nxtreporting.com/?a=NXT-MRBN-8DFH-PFMK-A4DBM&c=USD shows the SuperNET account
It currently has 23.5 million NXT and 26.3 million NXT worth of the core assets.

Let us calculate the TOKEN NAV and SuperNET NAV, the latter using core assets and assuming full 20% dilution.

2014-09-11-14:00:03-GMT SOLD 211012.56580535 TOKEN

928.44400974 BTC, 8955179.34129586 NXT, 18107.41954836 BTCD, 604418.27454791 CNY
NXT AE 23495504.342392 NXT for 187039 TOKEN

Total TOKEN: 398051.56580535
BTC 928.44400974
NXT 32450683.68368786 * .000085 = 2758.30811311 BTC
BTCD 18107.41954836 * 0.01398860 = 253.29744909 BTC
CNY 604418.27454791 @ 2930 = 206.2861 BTC
BTC equiv = 4146.33567247

TOKEN NAV = 0.01041658 BTC

If the UNITY trading is active, there would now be a 50 BTC buywall at 0.01041658 BTC

Now let us adjust this for the value of the core assets, the following I just cut and paste from the GUI:
InstantDEX   241'485   1'000'000   24.15%   48.98   45   10'866'825   
NXTcoinsco   241'485   1'000'000   24.15%   26.98        25   6'037'125
NXTprivacy   241'485   1'000'000   24.15%   43.9989   39   9'418'180
Total 26322130 NXT * .000085 = 2237.38105 BTC

Now we assume the "worst case" dilution where both bonuses are earned, which would mean there are a total of 497564.4573 SuperNET assets. You can check the math, 80% of this number is matching the number of TOKEN.

SuperNET NAV = (4146.33567247 + 2237.38105) / 497564.4573 = (6383.71672247 / 497564.4573) = 0.01282993 BTC

This is a 23% premium over the TOKEN NAV, even when using the 20% dilution.

I hope these calculations make it clearer how all this works

James

total account value: 7'437'808'473

7 billion nxt... 300 million usd... that is astonishing... :o
you know that is mostly from the unsold TOKEN, so this value is not real. The account value is only around 50 million NXT
Title: Re: SuperNET TOKEN from BTER
Post by: viennavtc on September 11, 2014, 10:42:53 pm
so on the asset exchange right now.. which Asset Issuer is the right one?  which one is showing the correct current price?  cause there are currently five different asset issuers listed for token right now with the price ranging from 122 to 128...
Title: Re: SuperNET TOKEN from BTER
Post by: m30188 on September 11, 2014, 10:46:58 pm
so on the asset exchange right now.. which Asset Issuer is the right one?  which one is showing the correct current price?  cause there are currently five different asset issuers listed for token right now with the price ranging from 122 to 128...
Official SuperNET NXT addr: NXT-MRBN-8DFH-PFMK-A4DBM
Official SuperNET TOKEN asset: 15641806960898178066
Title: Re: SuperNET TOKEN from BTER
Post by: viennavtc on September 11, 2014, 10:56:03 pm
yeah I think all 5 Asset Issuers listed have that token id... I'm not getting the price range though.  I thought James was slowly going up each day from 127?
Title: Re: SuperNET TOKEN from BTER
Post by: frohlocke on September 11, 2014, 11:04:27 pm
yeah I think all 5 Asset Issuers listed have that token id... I'm not getting the price range though.  I thought James was slowly going up each day from 127?
I would reconment that you dig a little bit deeper in this ico and how asset exchange works. it protects you now and later to make an uniformed decision.
Supernet is denominated in BTC so if nxt against BTC price increases asset price goes...yes.
Title: Re: SuperNET TOKEN from BTER
Post by: P2PGuy on September 12, 2014, 10:51:31 am
thank you JL777 for all the clarification on superNET and the right asset details.
Title: Re: SuperNET TOKEN from BTER
Post by: cobaltskky on September 12, 2014, 04:39:06 pm
James, how's it looking for the timeframe on the ICO?  One week remaining?  Two, three?
Title: Re: SuperNET TOKEN from BTER
Post by: sparta_cuss on September 12, 2014, 08:00:43 pm
James, how's it looking for the timeframe on the ICO?  One week remaining?  Two, three?

Quote
The fundraiser will start at 14:00 GMT Saturday 6 September. It will continue for 2-4 weeks in total, for as long as there is sufficient interest. At the end, all TOKEN will be converted to UNITY, which can be withdrawn to a NXT wallet or traded on the AE, BTER and other supporting exchanges.