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Author Topic: SuperNET TOKEN from BTER  (Read 170248 times)

jl777

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Re: SuperNET IPO/Poloniex
« Reply #360 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
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xyzzyx

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Re: SuperNET IPO/Poloniex
« Reply #361 on: September 05, 2014, 01:07:19 am »

I love Bter.
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_mr_e

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Re: SuperNET IPO/Poloniex
« Reply #362 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!?
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jl777

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Re: SuperNET IPO/Poloniex
« Reply #363 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
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jl777

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Re: SuperNET IPO/Poloniex
« Reply #364 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
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_mr_e

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Re: SuperNET IPO/Poloniex
« Reply #365 on: September 05, 2014, 01:50:43 am »

Well this just keeps getting better and better:D
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TwinWinNerD

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Re: SuperNET IPO/Poloniex
« Reply #366 on: September 05, 2014, 02:06:44 am »

Wow very nice!

THank james and bter

TheCryptoWoman

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Re: SuperNET IPO/Poloniex
« Reply #367 on: September 05, 2014, 02:35:36 am »

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jl777

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Re: SuperNET IPO/Poloniex
« Reply #368 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?
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Windjc

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Re: SuperNET IPO/Poloniex
« Reply #369 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.
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jl777

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Re: SuperNET IPO/Poloniex
« Reply #370 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
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jefdiesel

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Re: SuperNET IPO/Poloniex
« Reply #371 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
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Nexxie

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Re: SuperNET IPO/Poloniex
« Reply #372 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!
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jl777

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Re: SuperNET IPO/Poloniex
« Reply #373 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
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Abraxas 147

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Re: SuperNET IPO/Poloniex
« Reply #374 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)
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chanc3r

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Re: SuperNET IPO/Poloniex
« Reply #375 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)

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tersagun

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Re: SuperNET IPO/Poloniex
« Reply #376 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..?
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chanc3r

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Re: SuperNET IPO/Poloniex
« Reply #377 on: September 05, 2014, 07:25:26 am »

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jl777

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Re: SuperNET IPO/Poloniex
« Reply #378 on: September 05, 2014, 07:31:50 am »

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jl777

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Re: SuperNET IPO/Poloniex
« Reply #379 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
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