Hello,
I am very impressed and excited with all I am reading, the whole thread seems very professional and also the way James writte and express bring me confidence on this project, I have two questions:
How and what will you consider to add a coin to supernetwork, I can imagine from today you will have lots of emails begging you to add their coins to the supernetwork. Also, how will we know which coins will be added to the supernetwork, will be a way to know which coin will be added to the supernetwork before its added to the supernetwork?
And last but not least, how much proportion we will be able to buy from the IPO, will be a limit? and after the IPO is ended, what will we get in return coins, a piece of supernetwork? what we will be buying...for example in NEM when you got into the IPO you will get coins, what will you get on this IPO?
Many thanks James
The more useful a feature a coin has the more likely I will consider adding it to the SuperNET core. You are correct, I am being flooding with interest to become part of the CORE, so I will be setting up some procedure for this. I do not have time to be researching all the coins or negotiating the biz stuff.
If you want to apply for you coin, write a PM to me with the following:
1. What makes your coin useful to the SuperNET. If your coin is just a clone of another coin with just some variables changed, there is no need to apply for inclusion into the CORE. It is just wasting of time. So, this means LTC cant get included in the CORE, however it can be in the spiral arms utilizing the power of the CORE.
2. Basic coin stats, believe it or not I have not memorized every coins current and future supply, emission curve, etc.
3. anything else you think will help me to understand your coin, the type of community, future goals, etc.
Most IPOs are saying to limit what you can send in to 1BTC or something like that. Well it is not so hard to make new address and break any limit and I dont believing in wasting time. If you want to invest .01 BTC or 1000 BTC, it is all going to get you the same ROI. Other than the bonuses for being early or using BTCD or NXT. So, there is not this "fairness" issue. if you gots the money you can gets the SuperNET. It will start out as a Poloniex token, but its true form is as a NXT asset.
The details are not set yet, but maybe something like you deposit/purchase X amount, the cost of this is growing over time, so the sooner you buy the better price you get, but as long as money is coming in, the process autoextends another day up to a max of 4 weeks. At the end we tally up the purchases come up with a starting price to calculate the total assets. I issue the asset and send it to Poloniex who then distributes it to everyone's acct and trading starts. You could also withdraw it to NXT AE and trade it there.
It is a top secret thing as to the identity of a coin being added to the CORE. The SuperNET has to be able to lockin the recent trailing price, this assures investors of not being charged for the value of SuperNET. If this lockin to the past price is not done and the "jl777 effect" boosts the price of a coin, then it all becomes much more difficult. People will be less likely to sell at the past price, etc. Also this is a test of the coin's representatives. If they all start blabbing about this before it is a done deal and it is easy to see the price effect so this is the proof of the leak, then it is like a confidence is broken. this is not good, and I think unless there some extremely good justification would disqualify a coin. So for anybody trying to pump a coin from this, it will only assure non-inclusion. Beware of anybody that is trying to convince you it is some sort of done deal about joining the core. The only time you can rely on this is if I am posting an announcement. Anything else is someone trying to get your coin disqualified!
Again, beware of anybody who is not me that says a coin will be included in the SuperNET core. At best he is trying to pump your coin, at worst he is dooming it to never being allowed in the CORE. I am counting on all the communities to enforce selfdiscipline. The cause we are fighting for is not to make some few extra BTC, it is to create a new world where money is freely usable and by extension we all have the freedom to pursue our lifes without some govt telling us what we can do, watch, behave, etc.
I have been to over 50 countries and in my experience the human spirit and compassion is global. We dont need some 1000 page rulebook to tell us what is allowed to do or not! Actually the more rules there are the more I am worried. This is because people are replacing their common sense and compassion with a rulebook and they think if it isnt against the rules it is ok to do. So what happened to personal honor and integrity? Some rich guy can pay expensive lawyers to navigate the maze of impossible to understand legalize and it becomes ok for him to totally take advantage of a lot of ordinary people. And there is no way they can even complain because it is all in the 1000 pages, so it has to be ok. And people's lives are made difficult, or even ruined. Just so the rich guy or corporation makes more money. I mean, just how many lattes do you need per day?
Somehow I am in my tirade against the system. Sorry about that. It is just that I have struggled for many years and suffered by trusting others who find use the 1000 page rules and next thing you know all my hard work belongs to them and I cant even afford to buy any lattes. Maybe I am like the trusting dodo bird who is all friendly and not worried about anything and then next thing you know they are all gone. I know I can trust in the general goodness of human nature. It is just that the zerosum dog eat dog fiat world changes people into rule following machines without compassion or integrity, where money is more important than humanity. In crypto, I see so many times extreme levels of generosity, entire coin communities are created from donations! Show me any fiat anything that is like this.
Now I am sure the many skeptics are saying if you dont need the money, then why this IPO?
Well this is a good question. I dont personally need the money, but to create the gravitational force required to jumpstart SuperNET and get the galaxy rotating, well this is more that all the money I have made in this wonderful cryptoland. If I could do it with just my money, I would have, but I estimate the needing of thousands of BTC, so I make this structure. And I am not sure it is clear to people, I will not be getting any SuperNET for free, I will have to buy them. So if a lot of money is raised, then my share is some small percentage, but this is ok, since with such large funding the size of the SuperNET can be bigger and the money that is being made by SuperNET is going to everybody who owns a piece of it.
Also, I will not be having the access to the funds, maybe some small amount like 1% so I can pay for websites and other expenses. I will operate the SuperNET with 90% profit margin so the spending of the revenue will be 10% and the rest being distributed to the owners of SuperNET and the various other parties, eg. coin communities, people that run nodes, BTCD stakers, etc. Once the deal is made for the SuperNET purchase, then the BTC is used by escrow to make the swap. All such expenses will be announced and then it becomes official this process of a coin becoming part of the CORE
James
