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[Litoshi]

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.

[GreXX]

I couldn't agree more, but every second person is promoting that worthless network all over Bitcointalk.

I think the best thing the devs can do is simply be silent about Supernet, or at most, say it's under consideration for the future.

Those who think shortterm may still get a minor price bump. Those who think longterm won't be stuck with it, if they don't want it.

The smart thing is to simply wait and see how it works out. One thing promoters probably overlook is, what if supernet is a failure? You don't want some multicoin network dragging down the price of crypti. It's not automatically a price booster... it can go the other way too.

What baffles me is that, the people who want Crypti to be added to SuperNet don't realise that Crypti doesn't need it at all. The whole SuperNet functionality can be replicated by Crypti's custom block chain support when it rolls out.

Why do we need to be part of another coin's network when our own network already supports it and is more robust/powerful? How about instead of trying Crypti to get added to SuperNet, promote other coins to use Crypti's custom block chain support?

You guys realise that custom block chains support leads to literally endless possibilities.

I don't think the possibilities of the Crypti network and custom block chains will hit home for most until they are available and we start showing what is possible. People are ramped up about BTSX right now and other coins, but everything they do can be accomplished on top of the Crypti blockchain. Once people realize what we have done with the block chain technology, the tx fee reward system, how PoT works, and that merchants and those who support and use the network get rewarded, I think our overall vision will finally start to solidify.

We wanted to create something fundamentally different. First we had to create a new core currency and system. Next we will create the ability for anyone to build anything they want on the back of this new and fundamentally different network (including financial instruments, stock, apps, services, etc), and then we finally will support all of it with an easy method to find, support, review, and utilize the merchant system that supports merchants, vendors, and those who love Crypti alike.

Until the entire cohesive system is visible and people can touch and use it, there will be many who can't quite see the vision. For those who do get it, you know why we aren't following the daily price swings and aren't focused on the current price.

[50cent_rapper]

I imagine the future when 1 XCR will hit 100 000 sat and people will remeber this early days before even windows wallet out, and cry about not buying at 1500 satoshi 
So they now neeed to search job via crypti find-jobs application

[Litoshi]

Until the entire cohesive system is visible and people can touch and use it, there will be many who can't quite see the vision. For those who do get it, you know why we aren't following the daily price swings and aren't focused on the current price.

This is the TV generation.... everything has to happen and be solved before the hour long show is over.

Unfortunately, in today's world,  everyone is focused on the short term.  Patience and long term planning aren't taught in school anymore.  

[S3MKi]

[GreXX]

UPDATE

New Blog Post: http://blog.crypti.me/verification-windows-wallet-and-hiring/

We have updated the blog with a post covering some of the things we have mentioned here throughout the day today. We hope to have more good news in the next few days! Stay tuned!

[Vega]

Do you know if Bter is planning to raise the daily withdrawal limit for XCR?
100k is really low.
I'd like to transfer my coins to my own wallet, but at this rate it could take a while...

[asnghost]

UPDATE

New Blog Post: http://blog.crypti.me/verification-windows-wallet-and-hiring/

We have updated the blog with a post covering some of the things we have mentioned here throughout the day today. We hope to have more good news in the next few days! Stay tuned!

Thanks for the update!

[LetMeKnow]

Where do i register to become member of Crypti Foundation?

[Litoshi]

Where do i register to become member of Crypti Foundation?

http://cryptitalk.com/index.php/topic,81.0.html

[Litoshi]

Do you know if Bter is planning to raise the daily withdrawal limit for XCR?
100k is really low.
I'd like to transfer my coins to my own wallet, but at this rate it could take a while...

Its a safety measure to prevent the type of theft they had with NXT. 

[Vega]

Do you know if Bter is planning to raise the daily withdrawal limit for XCR?
100k is really low.
I'd like to transfer my coins to my own wallet, but at this rate it could take a while...

Its a safety measure to prevent the type of theft they had with NXT. 

How is that? The NXT theft was because someone accessed a hosting account that had the password for the Bter NXT account.
The withdraw limit is only imposed on users, nothing do with the ability to transfer out funds from a Bter crypto wallet.

You could say that the limit can protect against user account hacks, but that's what fund password and 2FA for.
Also it's no real protection as if a hackers can access your account they can just sell for other crypto with higher limit and withdraw that.

[Vagnavs]

UPDATE

New Blog Post: http://blog.crypti.me/verification-windows-wallet-and-hiring/

We have updated the blog with a post covering some of the things we have mentioned here throughout the day today. We hope to have more good news in the next few days! Stay tuned!

thanks for the update! Is the one click Windows installer. An Windows executable file or a browser type wallet?
Best regards,
Brian

[Sparky_eMunie]

UPDATE

New Blog Post: http://blog.crypti.me/verification-windows-wallet-and-hiring/

We have updated the blog with a post covering some of the things we have mentioned here throughout the day today. We hope to have more good news in the next few days! Stay tuned!

thanks for the update! Is the one click Windows installer. An Windows executable file or a browser type wallet?
Best regards,
Brian

Since Crypti is written in Node.js, it will be a browser wallet.

[Vega]

Here are the withdrawal limits for some of other higher volume coins on bter:

BTC 50 BTC
BTSX 1000000 = 72 BTC
NXT 2000000 = 120 BTC
XCP 50000 = 214 BTC
BTCD 5000  = 29 BTC
Doge 500000000  = 140 BTC

Crypti:
XCR 100000 = 1.9 BTC

As you can see the XCR withdraw limit is extremely low and it can't have anything to do with safety against theft.

The low limit (it started with 10k if I remember correctly) was probably a precaution with the new code, but by now it should be secure enough to raise.

[Litoshi]

Here are the withdrawal limits for some of other higher volume coins on bter:

BTC 50 BTC
BTSX 1000000 = 72 BTC
NXT 2000000 = 120 BTC
XCP 50000 = 214 BTC
BTCD 5000  = 29 BTC
Doge 500000000  = 140 BTC

Crypti:
XCR 100000 = 1.9 BTC

As you can see the XCR withdraw limit is extremely low and it can't have anything to do with safety against theft.

The low limit (it started with 10k if I remember correctly) was probably a precaution with the new code, but by now it should be secure enough to raise.

Agreed it's a bit ridiculous

Well, lets all bitch to Bter then.  Enough compliaints, and they should respond.

[Litoshi]

UPDATE

New Blog Post: http://blog.crypti.me/verification-windows-wallet-and-hiring/

We have updated the blog with a post covering some of the things we have mentioned here throughout the day today. We hope to have more good news in the next few days! Stay tuned!

thanks for the update! Is the one click Windows installer. An Windows executable file or a browser type wallet?
Best regards,
Brian

Since Crypti is written in Node.js, it will be a browser wallet.

Where EXACTLY will the XCR be stored that I place in my browser windows wallet? 

[matrix961]

UPDATE

New Blog Post: http://blog.crypti.me/verification-windows-wallet-and-hiring/

We have updated the blog with a post covering some of the things we have mentioned here throughout the day today. We hope to have more good news in the next few days! Stay tuned!

thanks for the update! Is the one click Windows installer. An Windows executable file or a browser type wallet?
Best regards,
Brian

Since Crypti is written in Node.js, it will be a browser wallet.

Where EXACTLY will the XCR be stored that I place in my browser windows wallet? 

In the blockchain which your node will have a copy of, the same copy we all have and keep synced. As long as you remember your password you can login to any node and access your coins. You will just have a local node with an easy windows installer. You could completely burn down your PC and still be able to access your coins using another node for example. Just never forget your password, your nice long complex password for safety.

[Litoshi]

UPDATE

New Blog Post: http://blog.crypti.me/verification-windows-wallet-and-hiring/

We have updated the blog with a post covering some of the things we have mentioned here throughout the day today. We hope to have more good news in the next few days! Stay tuned!

thanks for the update! Is the one click Windows installer. An Windows executable file or a browser type wallet?
Best regards,
Brian

Since Crypti is written in Node.js, it will be a browser wallet.

Where EXACTLY will the XCR be stored that I place in my browser windows wallet? 

In the blockchain which your node will have a copy of, the same copy we all have and keep synced. As long as you remember your password you can login to any node and access your coins. You will just have a local node with an easy windows installer. You could completely burn down your PC and still be able to access your coins using another node for example. Just never forget your password, your nice long complex password for safety.

So just to clarify for all investors:  there is no way to store XCR in cold storage and/or offline?

[S3MKi]

guys about limits please write to freeworm( he from bter). PM'ed him.