by the Supertrader payroll, I assume you meant bankroll. I want the supertraders to compound the 10% until it is becoming giant multiples of starting book value! So, if they are making the big gains, let them keep compounding it. It would be cool if the NAV growth will rival the operating company valuations
James
Yes, I meant bankroll. There must come a point at which a vast bankroll starts causing problems moving markets and it's no longer possible to use all of it to trade. I've no idea where that point is or if it's ever likely to be reached, but thousands of BTC (millions of USD) is a lot when there's only $2m daily volume for BTC. Fair enough to the time limits on bonuses. I don't think it's going to be an issue in either case anyway, especially for the first one. |
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How will the payment of BTCD dividends work (revenues from InstantDEX, Teleport, ...) ?
The BTCD address that staked will be credited with the dividend Then there will be a mechanism to make claims for the dividend, not sure of the details yet, maybe someone wants to solve this? It is a matter of linking claim address with the address of the BTCD address that earned the dividend by staking so scanning blockchain to find the BTCD addresses that staked (I think each block staked should have equal weight) then each BTCD address would get a percentage of the total dividends Separately, we need to link the above BTCD addresses to payout addresses, which would be BTC or NXT. Alternatively, we could convert all the dividends into BTCD and simply send the payments to the BTCD address. That is actually much simpler and it wont require any linking of addresses and thus losing the privacy. Once there are dividends to share, it is a matter for calculating the allocation and then we can automatically send the dividend to each address as long as it is above a certain threshold. I wont have the time to implement this for a while, so if anybody is up to it, then this will allow for dividends sooner rather than later James This is very interesting. I think the idea to pay stakers dividends a couple of months back laid the groundwork for the whole SuperNET project.  I'd opt for BTCD payments rather than BTC or NXT. Perhaps that's not ideal, but there will be lots of small amounts flying around, and if someone isn't in BTC or NXT anyway (I know, but these people might exist) then they would simply have amounts that couldn't economically be used. The potential loss of privacy also undermines the ethos of BTCD! And converting wouldn't hurt the BTCD price either, giving it constant gentle upward pressure. |
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James you could consider making the bonus depend on an absolute value. So, if we reach $25m you get the 5%, $50m you get the 10%, etc. Holders could vote after the ico has finished and it could be expressed in terms of a gain from initial value. So if $3m is raised, the targets could be (for example) $30m for a 10x gain and 5% bonus, $45m for the remaining 5%, etc. You could also consider pricing in btc instead of USD. Just something to consider. This approach might make it more objective as well.
In my mind the triggers correlated to 5% bonus at 3x TOKEN sold and another 5% at 10x TOKEN sold Pricing in BTC would indeed remove the USD variable, but the top10/top5 also removes that and also accounts for new competition. However, I do like that your proposal is very objective and is very clear as to whether it is achieved or not. Thank you for the excellent suggestion! I think I will use this idea of 3x and 10x, which is what everyone probably did when assessing the top10/top5 thresholds anyway. #### Proposed voting ballot description The BTC equivalent raised would be the total BTC equivalent at the time the fund raising is closed using the then current coinmarketcap prices for the NXT, CNY, BTCD. Let us call this the "BTC raised" 5% bonus achieved when the BTC marketcap from coinmarketcap (or other reliable source) sustains 3x BTC raised for 24hrs+ and another 5% bonus achieved at 10x In the event the 3x bonus is not achieved before year end 2014, the 5% goes to SuperNET working capital. Similarly the other 5% would go to SuperNET working capital if 10x is not achieved by year end 2015
On the closing of TOKEN fund raising, 10% of SuperNET assets to go to working capital, 10% to jl777 for the 2000BTC of assets, 10% held in reserve for the 3x and 10x bonus. The minimum dilution is 10% if neither bonus is achieved and the maximum dilution is 20% if both bonuses are achieved. #### James I suggest the bonus is always available, rather than time-limited. So when SuperNET reaches 3x TOKEN market cap, that triggers the bonus, regardless of when it happens. It could be argued that the extra time would allow James to slack off, but I don't think that's going to be an issue. It would also be a shame to miss it by 1 day for some reason out of anyone's control. In any case, if it does take year after year, the loss of confidence will cause holders to sell, driving down the price and making it even less likely, which should provide some kind of intrinsic incentive. This suggestion won't be to everyone's liking, but that can be catered for with a 2-part vote: 1) jl777 should receive a 5% bonus when the market cap hits 3x TOKEN value. 2) Any bonus is limited to 2014 only. Answer yes to both and you have the original proposal. Yes to the first only and you have what I just suggested. Another question: SuperTrader payroll compounds, starting at ~1000 BTC I think. At what point will that fund be used to start paying dividends or going to other purposes? Or does it simply compound forever (within reason) and boost the SuperNET nav? |
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SuperNET already 33 on CoinMarketCap  That looks like just BTer. Overall it's over 5k btc. |
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I meant revenue streams, not voluntary transfers by users |
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Re: fiat sucking (one of the purposes of SuperNET), which businesses will do this?
Some, like Coinomat, cater for crypto -> fiat. Others are broadly internal to crypto.
Are there any yet confirmed that will take money from fiat -> crypto, other than exchanges etc?
One suggestion would be to include Google ads alongside any others - not sure whether that's already planned. This would have to be dealt with via a trusted third party, like BTER or Coinomat - both of which are well-placed to convert the revenue to BTC and send to SuperNET already. This would represent a steady trickle of wealth from fiat to the cryptosphere, benefitting not just SuperNET but all of crypto. Ideally, a few different initiatives would turn the trickle into a constant stream.
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Apologies if this has been answered already, but I haven't really parsed the entire thread yet:
How exactly will dividends/revenues be paid to UNITY holders?
Cheers,
~ Myagui
Good question ... I would like to know as well since I have several hundred tokens and plan to hold UNITY long term. How will dividends/revenues be paid to UNITY holders? If you have SuperNET asset in your NXT account, it will automatically arrive. If you have it on deposit at an exchange, then the exchange will receive the automatic dividend and they will need to support allocating it among the depositors. bter will be implementing this dividend redistribution. If you have SuperNET deposited to another exchange make sure they are supporting this redistribution James Heh. Those staking "technical" issues Cryptsy have been having with BTCD? Imagine those on steroids for UNITY... |
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Watching the Blondie video now. I can only conclude that drugs must be involved somewhere.
One Way Or Another (see what I did there?) this sounds awesome. Awaiting details with interest.
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Question re: conversion of TOKEN to UNITY.
On NXT AE, how will this be done? TOKEN will still exist after the UNITY dividend is paid or whatever mechanism is used, but it will have ~zero value. But there will presumably be buy orders open from people hoping to pick up a bargain and forgetting to close them after the deadline. At which point, lots of people will find they have bought TOKEN which can no longer be redeemed against UNITY.
good point I think maybe I should wait until all buy orders for TOKEN are removed before distributing the SuperNET (UNITY) asset Don't count on everyone voluntarily removing their buy orders. They need to be removed by you or bter. BTER isn't a problem, I don't think. The problem is that they can't be removed by a third party on AE (though in other circumstances, that's a really useful feature ). I would have suggested just filling them and taking the hit if it was a small number, but perhaps this had already occurred to some people. There's an order for 100,000 TOKEN at 0.001 NXT. Wouldn't mind getting 100,000 UNITY for 100 NXT myself... Hmm. Easy on BTER, hard on AE. |
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Not sure whether everyone will remove Token orders... bound to be someone who gets burned. Maybe that's just the price to pay. Either way it goes, there may be people who try to game the system by taking advantage of others, or your good nature.
Is there a way to do it through BTER - send Tokens there and get them auto-converted and sent back immediately? Centralisation, of course, might put people off that one.
Looking forward to hearing more about Atomic (as I think everyone is). I think SuperNET will thoroughly blur the distinctions between coin and asset/service now: what is the purpose of creating a new coin with a distinctive feature, when you can probably achieve the same through a linked service?
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Question re: conversion of TOKEN to UNITY.
On NXT AE, how will this be done? TOKEN will still exist after the UNITY dividend is paid or whatever mechanism is used, but it will have ~zero value. But there will presumably be buy orders open from people hoping to pick up a bargain and forgetting to close them after the deadline. At which point, lots of people will find they have bought TOKEN which can no longer be redeemed against UNITY.
My hope would be that an exchange is required and the Token assets are then burned. I agree, keeping the Token asset around opens up the opportunity for scammers. But surely it's not possible to burn assets that don't belong to you? James has indicated that TOKEN will stay around, and may retain some trading value as a novelty item. That suggests there might be immediate scam value at the point of conversion.Did you read my WHOLE message? Indeed I did. Misunderstood it somewhat. If you'd like me to commit seppuku to atone for this mistake, just let me know. In the meantime, the point still stands that I understand TOKEN will still be kicking around, waiting to cause problems. I don't think an automated solution will work. The whole point of a decentralised system is that you can't mess around with other people's stuff. Perhaps I'm wrong. In which case, you might like to spare my intestines this time so I can remove them for that mistake instead. Your call. |
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Question re: conversion of TOKEN to UNITY.
On NXT AE, how will this be done? TOKEN will still exist after the UNITY dividend is paid or whatever mechanism is used, but it will have ~zero value. But there will presumably be buy orders open from people hoping to pick up a bargain and forgetting to close them after the deadline. At which point, lots of people will find they have bought TOKEN which can no longer be redeemed against UNITY.
My hope would be that an exchange is required and the Token assets are then burned. I agree, keeping the Token asset around opens up the opportunity for scammers. But surely it's not possible to burn assets that don't belong to you? James has indicated that TOKEN will stay around, and may retain some trading value as a novelty item. That suggests there might be immediate scam value at the point of conversion. |
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Question re: conversion of TOKEN to UNITY.
On NXT AE, how will this be done? TOKEN will still exist after the UNITY dividend is paid or whatever mechanism is used, but it will have ~zero value. But there will presumably be buy orders open from people hoping to pick up a bargain and forgetting to close them after the deadline. At which point, lots of people will find they have bought TOKEN which can no longer be redeemed against UNITY.
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When is the official last date of the ICO? Since 2 -4 weeks is very vague
Maybe after jl777 sells his own NXT and BTCD to the public? The secret agenda is to sell everything, buy the moon and bring it down to earth - to finally make the "To the moon!" saying come true. We're currently negotiating with the U.S. & Russians about the price, but 6000BTC should be enough. Hopefully we have some BTC left to buy hookers and cocaine. Aha, a new troll policy. I like it. |
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I hadn't appreciated the role that the new BTCD wallet will play in SuperNET. As I now understand it, SuperNET will be available through this wallet (reskinned NXT to offer all the added features), not via a separate client. This is great if it's true Can anyone also say whether it will be capable of holding BBR and BTC as well as NXT and BTCD via associated addresses - and if so whether this will require downloading multiple blockchains or whether a lightweight client will be used for any (like blockchain.info)? Would love to see a list of planned features if it's available somewhere. |
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When is the official last date of the ICO? Since 2 -4 weeks is very vague
Almost certainly next Monday. Two days after volume drops to 3% a day, after the initial 2-week period, I think is the rule. Since there was such a surge of interest early on, it's unlikely that any day will see 3% unless there is a big pick-up towards the end. Hence two days later = next Monday, presumably at 14:00 GMT. Then a voting period to approve changes - I don't know how long this will take. |
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Yeah, but the FUD seemed worth addressing for the uninitiated.
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Ugh. Worth addressing a couple of posts there, I guess. For some reason I've just been reminded of a wonderful line from an old ZX Spectrum rpg game, The Hobbit. 'His foul gluttony has killed a hideous troll.' Happy memories...
Acquiring significant proportions of the market cap of promising crypto before announcing it is to prevent insider trading or pumping. Any pump pre- announcement would be immediately obvious.
Second, when you buy Token you are paying for crypto, not assets or future capabilities. Those are thrown in after the ICO for no extra cost. A decent price is the market price.
A little basic research, please.
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Is it possible to extract your private key from the wallet.dat file, and if so how?
I'm using the Windows client.
open bitcoindark, go to debug console, and type dumpprivkey <yourAddress> I tried that but it says wallet only unlocked for staking. how do I unlock it for this? When unlocking, uncheck the 'for staking' box. |
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