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Okay that's ridiculous. Looks like I'll wait for that to be fixed before I withdraw. Thanks guys for putting in the support tickets. Keep us updated on what you hear back.
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No worries, James. I think there are enough real SuperNET supporters around that some of this trolling shouldn't be a huge problem. I would bet that the majority (over 50%) of asset holders are true believers in the project/cause and are in it for the long term (myself included). It would take a very intelligent and convincing troll to make us supporters get even a little bit nervous. Based on what I've read so far, these trolls are rather unintelligent. So you trying to challenge every troll comment would just give their comments more credit than they deserve and that is completely unnecessary. I don't think closing the thread and completely moving to SuperNET forum would be a good idea. Having a moderated thread would not be a good idea either. It'll just give the trolls more reason to troll. Now that you have UNO_owner step up and help with the FUD control (big thanks to UNO_owner btw!), I really hope you can take a little breather and get back to focusing on coding. After all, you're just a simple C programmer. You got a lot of work ahead of you  |
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I would like to give a big thanks to James and the rest of the team for putting in the work to make SuperNET what it is and what it will be in the future. Not worried about the price right now at all. Value should always come before price.
On a different note, please update as soon as we can withdraw from bter. Have been looking forward to using my brand spanking new nxt wallet (I've never used nxt before).
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Why does it already have over 200pages and has been growing much faster than BTCD. I did come on here to fight. I like BTCD, I think they can work well together. I took a look when they first launched and labeled it a BTCD wannabe. But in the spirit of Unity I guess it wouldn't hurt to take a second look see JJ I took a look at it a week or two ago (sometime during their pump) and didn't see any new tech/innovation. Unless something has changed, it looks like they are just playing off of the popularity of BTCD. Either way, who wants LitecoinDark when you have BitcoinDark? I mean, would you rather own Litecoin or Bitcoin? As a random side note, I would love nothing more than to see Litecoin get dethroned from its 2nd place in market cap. It's held onto that place for far too long and I believe it no longer deserves it, especially with all the new innovations that are out there. |
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Right now, being able to get some UNITY/SuperNET so close to ICO price is sort of a blessing, in my opinion
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Is there a consolidated place where I can get info about what does what in regards to supernet and btcd? visa vi dividends
http://thesupernet.orgIf you haven't already seen it, the diagram at the bottom of the webpage is a good visual and good start to understanding it. There's also the "SuperNET - Information for prospective volunteers" pdf that you can read. |
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Let the weak hands (WH) sell. this is part of the process of getting to an assetholder base that isnt price watching every tick and screaming for some "news" to happen everyday.
Couldn't agree with you more. I've grown to despise being a part of communities like that. What this means is that the few that did discover and put money in are in a small minority. As the marketing materials are completed and people are understanding what SuperNET is, then more and more investors will come in.
I think there are even investors who bought into the ICO that do not yet have a full understanding of SuperNET and its potential (probably myself included). So SuperNET really is just a little baby at this point in terms of the amount of people who knows what it's all about. P.S. I will be issuing the official SuperNET asset today and when valarmg is ready with the redeeming, we redeem and then have interchangeable asset with bter's UNITY
Why have it called SuperNET on AE and UNITY on bter? Why not just make everything UNITY? |
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This is probably the most stable coin I've ever invested into. It's been a real joy not having to check the price on an hourly basis, or even on a daily basis. It maintains value and it's as simple as that. I can go this entire week without looking at the price on bittrex and still tell you the value within a single digit percent margin of error.
I expect a price jump once James announces the portional dividend payouts of SuperNET and how much BTCD stakers will be receiving. People deeply invested into SuperNET for the dividends that hold no BTCD will want some to increase their overall dividend income. BTCD cost more to purchase, along with being more of them, so paying out dividends to only people who stake is enough to receive your share of the dividend no matter how many coins you hold.
It's really the most stable coin on the market within the past 3 months (since its release in early July) and has maintained good volume. This gives investors including myself a lot of confidence in its long term value. |
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Looks like a load of people are dumping to make quick profits.
Assuming they are bought by SuperNET, once the buy wall's up, does that simply increase SuperNET's share of the assets or does it have an antidilutive effect for everyone?
I would think the increase in SuperNET shares would be a good thing, since jl777 plans to use it in a way that will increase the value of SuperNET. |
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I don't have a nxt client. I will research how to set up one.
Use the one from www.multigateway.com, it also has the multigateway service in it. And choose a strong random password, not a Bible verse  Great! Is this the client you use? I plan to hold UNITY long term. Will my dividends be added to my nxt client automatically? It doesn't look like UNITY is one of the supported "coins" on this nxt client at the time. http://multigateway.org/#sec_coinsI think jl777 did mention that withdrawal of UNITY in BTER to the nxt wallet won't be possible until at least tomorrow. So just hang tight for now. |
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no, i just used that as an easy to use example of getting value for value
i plan to keep the vast majority of the 10% intact until much higher values and use it only when it makes sense to
As it is I will have 57 BTC for the entire operating budget of SuperNET, the 10% working capital gives a bit more breathing room.
James
Thanks for clearing that up. And I think you meant 5700 BTC budget not 57, right? At least I hope. lol There is only 1% available for working capital now! That is ~57 BTC The rest of the funds have strict usage guidelines and procedures, hence the request for extra 10% for working capital. James Okay, I guess it's just a matter of semantics now. When you said "entire operating budget", I thought you meant to include everything. I'm probably jumping the gun on all these questions as I'm sure there will be a paper/report outlining all the details of the funding involved. Perhaps I'll just shut up now like everyone else and come back in a few months when UNITY is worth much more |
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no, i just used that as an easy to use example of getting value for value
i plan to keep the vast majority of the 10% intact until much higher values and use it only when it makes sense to
As it is I will have 57 BTC for the entire operating budget of SuperNET, the 10% working capital gives a bit more breathing room.
James
Thanks for clearing that up. And I think you meant 5700 BTC budget not 57, right? At least I hope. lol |
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for example, let us assume in a few months a chance to buy 10% of a top10 coin arises. Then this extra 10% could be used for such a swap. Not that all of this will be used for one deal, just an example.
At that point, there would be an extra 10% dilution, but keep in mind there is now 10% worth of this top10 currency
-10% + 10% = 0%
so it doesnt change the value of each of the other UNITY assets
at least at the instant this happens
The goal of course is to create some positive effect from the working capital, so if that works then by doing the deal (only possible with the working capital) it would increase the value of all the UNITY assets.
So as long as the working capital is getting 1:1 value, then it is a neutral effect. If every working capital UNITY is used to get more than it cost, then all existing UNITY holders will benefit.
James
Ok. That makes sense, but then I thought the point of collecting the NXT and BTC for the IPO was to use for adding new coins to the core. Isn't that considered working capital? Buying coinx with BTC will get us a 1:1 value as well, without flooding the market with 10% more UNITY. What type of guidelines or process will be used to make purchasing decisions like this? that was just an example the main use for working capital would be to pay for contractors, bounties and other things like that, just a catchall category for expenses. for anything big, I would post it here. If there is a big controversy over it, then I will certainly listen to feedback there are times where I need to make some quick decisions, so I think it is good that I have some discretion for doing things like that without needing any sort of elaborate process. As the largest UNITY holder (I think I would be) it is in my interest to spend it wisely and I currently dont intend to tap into it for a while, certainly not at current low prices! James I have the same concern as UNO_owner. I thought the BTC (and equivalent) raised in the ICO will be used for all the things you mentioned AND to buy 10% of coins joining the core. So it's actually part of the 10% of UNITY that will be used to buy the 10% of those coins? |
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10% in addition to the 10% he would get anyway.
Okay, got it, so a maximum of 20% of total UNITY will go to James if bonus conditions are met. |
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It is confusing, but it does appear correct (not having independently verified the underlying numbers regarding BTC-equivalent raised and BTC value of the included assets). But taking those numbers at face value, TOKEN holders should directly own 70% of UNITY. So you divide the tokens purchased (571k) by 70% and get 816k total UNITY issuance.
I think the distinction between that and multiplying by 130% was the first big confusion. The second is the non-dilutive nature of the 20% (10% working capital and 10% held in reserve for potential bonus to James). This is UNITY that UNITY itself owns. The working capital portion will become dilutive only as it gets spent (if it gets spent) as currency, in lieu of spending out of the cash raised. It's somewhat like authorized, but not issued, stock. The James bonus only becomes dilutive if/when it is awarded, which is a nice problem to have.
Also, regarding the buywall - people should view this both as a courtesy backstop (it shouldn't need to be there if the market is anywhere close to efficient, but it gives peace of mind, and a guaranteed opportunity to cash out if someone really needs liquidity) and as an additional opportunity for those who plan to hold long-term. Just as companies will buy back their own stock when they feel it is undervalued, you don't want your "company" to always be trying to buy back shares at the fair market price. If there are temporary market disruptions, or occasional panic sells, UNITY buying back its own shares at a discount is accretive to you the UNITY holder. It increases your percentage ownership at a favorable price.
Yes, confusing indeed. But I got it now. I was just calculating under the wrong assumptions. Good explanation, btw. 10% for me
10% for SuperNET
10% for bonus in reserve
70% for TOKEN owners
TOKEN owners currently own 7/8'th of SuperNET as the 20% for SuperNET and bonus reserve are not dilutive
keep in mind the TOKEN owners put in ~5700 BTC and I put in ~3000 BTC of assets, so on a prorata basis I would have 34%
So to put it differently, you contributed 34% to the total UNITY and will only get a maximum of 10% of the total UNITY back if bonus conditions are met. That sound right? |
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Okay, dividing by 0.7 does give roughly 816061.
But 816061 (minus) 571243.1402 = 244817.8598
244817.8598 (divided by) 571243.1402 = 0.42857 or about 42.857% of TOKEN sold (not 30%)
Sorry, I'm no math whiz, so I guess I'm having trouble grasping this.
Also, still doesn't explain where the 652849.2402 came from.
Divide 244817.8598 by 816061 (the full final amount) and you'll get 30% (ignore 652849.2402 figure, that was a mistake.) Ah, okay. I guess I was under the impression that the bonuses would be based on the total TOKEN sold, not the total UNITY at the end of all this. That's what threw me off. |
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If that's the case, 571243.1402 + 30% = 742616.08226
Sorry, just not adding up. Not sure what I'm missing here.
You divide by 0.7, you don't multiply by 1.3 Okay, dividing by 0.7 does give roughly 816061. But 816061 (minus) 571243.1402 = 244817.8598 244817.8598 (divided by) 571243.1402 = 0.42857 or about 42.857% of TOKEN sold (not 30%) Sorry, I'm no math whiz, so I guess I'm having trouble grasping this. Also, still doesn't explain where the 652849.2402 came from. |
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Assuming the Bonus plan is passed, a total of 816061 SuperNET (UNITY)
Where did you get 816061? Shouldn't it be the TOKEN sold (571243) + 10%? Yeah, a more detailed explanation is needed. I was not expecting that much total UNITY even after the bonus conditions are met. That's way more than the 20% max dilution previously proposed. 652849.2402 TOKEN sold. Of the total UNITY issued, SuperNET gets 10% and another 5+5% are held as James' bonus. So: 652849.2402 = 80% UNITY 652849.2402 / 80 * 100 = 816061. I just missed out on 0.1% Edit: 10% for SuperNET, not James! Ok, now I'm a bit more confused. I thought the total TOKEN sold was 571243.1402. Where did the 652849.2402 come from? And why is the 20% added to this number instead of the 571243.1402? 816061 seems to be 571243.1402 + 30%, right? 10% is put inside itself as working capital? 10% (5% +5%) is kept in reserve for bonus conditions. And the other 10%? Not questioning this, just can't remember the original conditions so just looking for clarity. If that's the case, 571243.1402 + 30% = 742616.08226 Sorry, just not adding up. Not sure what I'm missing here. |
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Assuming the Bonus plan is passed, a total of 816061 SuperNET (UNITY)
Where did you get 816061? Shouldn't it be the TOKEN sold (571243) + 10%? Yeah, a more detailed explanation is needed. I was not expecting that much total UNITY even after the bonus conditions are met. That's way more than the 20% max dilution previously proposed. 652849.2402 TOKEN sold. Of the total UNITY issued, SuperNET gets 10% and another 5+5% are held as James' bonus. So: 652849.2402 = 80% UNITY 652849.2402 / 80 * 100 = 816061. I just missed out on 0.1% Edit: 10% for SuperNET, not James! Ok, now I'm a bit more confused. I thought the total TOKEN sold was 571243.1402. Where did the 652849.2402 come from? And why is the 20% added to this number instead of the 571243.1402? |
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Assuming the Bonus plan is passed, a total of 816061 SuperNET (UNITY)
Where did you get 816061? Shouldn't it be the TOKEN sold (571243) + 10%? Yeah, a more detailed explanation is needed. I was not expecting that much total UNITY even after the bonus conditions are met. That's way more than the 20% max dilution previously proposed. |
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