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Author Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer  (Read 736724 times)
patmast3r
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September 07, 2014, 09:32:11 AM
 #1561

What a load of ignorant comments!

- The present wallet has a new skin available.
- Blackcoin is a pure proof of stake coin, whereas Bitcoin is proof of work.
- Blackcoin was derived from Peercoin, but with a faster blocktime making it more suitable for in-person transactions.

Blackcoin has CoinKite integration (a point of sale system) too, that's a plus.

Everyone and their mother's $hitcoin makes the same claim that their $hitcoin is a technical improvement or the next best thing since sliced bread, unfortunately this almost never matches with reality.

Reality is all these $hitcoins like BlackCoin, NameCoin, PeerCoin,  Quark,  et cetera, all must go - some of them may had offered something at one point but concurrently they're dead weight which sucks capital away from more innovative coins like NXT and BTCD.



AFAIK PeerCoin was the first to introduce POS so that was most definitely an improvement and a big one at that. I agree with your general message though. Many coins have very little to nothing new to offer. I'm suprised it hasen't driven anyone to go closed source and have a respectable company review their code to establish trust. 

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September 07, 2014, 09:36:44 AM
 #1562

Everyone and their mother's $hitcoin makes the same claim that their $hitcoin is a technical improvement or the next best thing since sliced bread, unfortunately this almost never matches with reality.

Reality is all these $hitcoins like BlackCoin, NameCoin, PeerCoin,  Quark,  et cetera, all must go - some of them may had offered something at one point but concurrently they're dead weight which sucks capital away from more innovative coins like NXT and BTCD.

NameCoin's a shitcoin now?!  Incredible.
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September 07, 2014, 09:38:49 AM
 #1563

On the token selling, we do have a sharp community. People started arbitraging the 5% immediately, so we must disable the token selling or only allow it at 5% below the official price. So, this is out of necessity and if you need to cashout, if will be with a 5% fee. This is not great, but it doesnt seem so horrible

I just quickly went through the posts. Any specific questions?

James

I'm unable to sell and it's not permitted. I think i know why. The buy orders are stacked from 0.01. Even if i want to cash out at a slight loss at 0.095, i'm unable to because of the buy orders. A solution needs to be done for this
I think we will have to do this via a ticket
making trading live just opens up to all sorts of issues

Seriously jl777, I'm very very impressed with how u handle this situation with absolute calmness judging from all your posts. If I'm were your shoes, I would have flipped off. Anyway can I submit a ticket for this maybe  a week later?
submit it anytime
if it is taking too long, I can make it priority, I seem to have some influence there now

The price would be 5% below current pricing?
i think that is what is needed to prevent the silly arbitrage
I guess as long as there are orders on the book above that, it would fill from the highest price, so maybe it is OK
is this urgent?

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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September 07, 2014, 09:39:02 AM
 #1564

I would rather want to hear what James thinks of Blackcoin or any other coin that applies, than what some random member on this forum thinks. Stop talking down a coin if you don't have detailed technical analysis and facts why it's not a good addition to superNET.

And stop the insulting and snarky comments, you guys sound like you're in kindergarden and it goes against the spirit of superNET... "It's a shitcoin!" "No, it's not!" "Yes, it is!" "NO"
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September 07, 2014, 09:51:48 AM
 #1565

Any list available for upcoming coins beeing added to supernet?

that vrc pump was nice  Grin

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September 07, 2014, 09:58:07 AM
 #1566

On the token selling, we do have a sharp community. People started arbitraging the 5% immediately, so we must disable the token selling or only allow it at 5% below the official price. So, this is out of necessity and if you need to cashout, if will be with a 5% fee. This is not great, but it doesnt seem so horrible

I just quickly went through the posts. Any specific questions?

James

I'm unable to sell and it's not permitted. I think i know why. The buy orders are stacked from 0.01. Even if i want to cash out at a slight loss at 0.095, i'm unable to because of the buy orders. A solution needs to be done for this
I think we will have to do this via a ticket
making trading live just opens up to all sorts of issues

Seriously jl777, I'm very very impressed with how u handle this situation with absolute calmness judging from all your posts. If I'm were your shoes, I would have flipped off. Anyway can I submit a ticket for this maybe  a week later?
submit it anytime
if it is taking too long, I can make it priority, I seem to have some influence there now

The price would be 5% below current pricing?
i think that is what is needed to prevent the silly arbitrage
I guess as long as there are orders on the book above that, it would fill from the highest price, so maybe it is OK
is this urgent?

please check PM. thx


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(en)Lightning
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|TESTNET|
jl777 (OP)
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September 07, 2014, 10:02:35 AM
 #1567

first difficult query to jl777 (or FUD if you may) - How is it that what you are doing is not akin to a Ponzi? The way I see it, you have too many of the "this invests in another asset" kind of assets. You have sharkfund0 which invests in your own assets, now you have jl777hodl which again is made of assets you issue and now Supernet.

So basically you open an asset, then open another asset which invests in the last one and then another which invests in the last one + 1, thereby building a chain. This along with a rather longish development cycle - till Dec for coding if I am not wrong + 6 mths to settle - 10 mths -- a really life long time, yep, nothing can go wrong here. Given the normal BCT crowd who greedily latch onto IPOs without regard for due diligence, this is a perfect fodder.


I wish you luck and hope you raise 10k BTC. So that once this goes belly up, people on this forum had learned their lesson.
http://en.wikipedia.org/wiki/Keiretsu

The assets represent ownership. proxy assets like JLH are to perform a single-throw multiple pull function, eg. buy one asset get two dozen. It is a convenience thing and like a sector fund, so you dont have to research all the assets to know which to buy. It wont get the best ROI compared to a single asset, but it also wont get the worst. It will get the capitalization weighed average

I am estimating year end to be done with debugging of all except Privatebet. most of the coding for the rest is done. I can only point to MGW for a project I have completed in the crypto space.

Since you are comparing SuperNET to ponzi, it is clear you dont understand it is asset backed. So when you actually understand something about SuperNET, then I would be happy to answer any specific questions you have.

James
I see the IPO is running full steam ahead so first congratulations are in order.

Keiretsu? Wow! I really have to say you know your finance stuff (or researched well). Most of crypto people would have been tongue tied answering the question with sensible arguments.

That said, first lets look at Keiretsu -- By definition it says different companies but by its working it is also about different promoters too. Here you are investing in your own assets that too borrowed from people. So it really isn't Keiretsu. Now you might say otherwise but one of the founding principles of Keiretsu is to lower risk for the companies too. In all of these assets there is one single biggest risk and that is YOU!!

JLH might be a "balanced fund" but now out of 9 assets it holds 4 of them have association with you - MgwLTC, MgwBTCD, Coinomat and NSC. On looking at trades I find it recently even held Nxtprivacy which was traded or transferred making it 50% (5 out of 10) in your own assets being held by jl777 (until yesterday):
https://nxtblocks.info/#section/txid/13869109530637325948
https://nxtblocks.info/#section/txid/18177681832696022121

Now the recipient account NXT-EVK5-KLZV-NHSZ-H4Z7R was first created on 5th and it doesn't show any bid order placements -- to buy NXTprivacy on an open market, so you have to wonder how it now owns 2.5% of the asset without any trades. Was it via some kind of trade/agreement? I don't know but makes you wonder for sure. The account received transactions from two NXT accounts:
https://nxtblocks.info/#section/accountId/NXT-ALP6-JWLS-K25S-DYTMB
https://nxtblocks.info/#section/accountId/NXT-R8SQ-TUEM-DTHQ-7ATA3

both of which again hold your assets (percentage wise)

I have just scratched the surface of your holdings and their transfer patterns. I am sure if I dig enough a pattern will emerge. To me it looks like an inter transfer to build up volume and price. This is possible because.............all transactions on NXT using 1 NXT as a fee instead of a percentage share (this is the achille's heel of NXT itself) , not really a big one if you can forge/get those back in the market, isnt?

Is there something fishy about your offering? Yes. Am I 100% sure about whats going on? No, cause I am not a full time auditor Tongue

So everyone buying this ICO (and saying "we have read the thread and understood") just be careful. JL777 has been kind enough to ask only 1 BTC if you doubt him, I would wager 0.01 BTC. But as I said in my original post, if you are being greedy, you will deserve what is coming.
All my accts are published
All my tx are on the blockchain
I do occasionally do market rate swaps to rebalance and focus a particular asset to a specific area
I dont have time to play games with the orderbook, so while you are more intelligent than most of the people accusing me of unethical behavior, the fact that you think mgwLTC is an asset of mine indicates you are not quite understanding of things

Now I have heard the many requests of people to better understand the assets. Since it sounds like you are already doing some analysis, do you want to work together so we can get some nice understandable documentation. I dont do GUI and I consider this sort of like a GUI, so I guess this is financial GUI.

If you are really interested in protecting people instead of just trying to smear my reputation, I expect an acceptance of this. We can do all the discussions of the internal transactions here, in the open. I have nothing to hide

James


Except identification?  Wink
Relevance?
fiat world puts so much emphasis on ID. You know why?
It is because with ID they can track EVERYTHING you do, when, with whom, etc. It goes in a database where low paid workers can pull up any info on you and of course they are never selling this access, that would be wrong.

So what good is knowing the ID of somebody whose contribution is open source software and ramblings on a forum? "jl777" is all the ID that is needed, dont you agree?

In crypto legal contracts dont exists, really, cant exist as how to enforce them? We had the real world ID of a scammer who swindled 1 million NXT from me. I foolishly still believed that real world ID meant "safety", this lowered my standard of due diligence and next thing you know I am out 1 million NXT and a bunch of investors are all panicing. this was my one failed asset and it was due to HAVING the real world ID! As I have written before even this failure only cost me the loss, all the investors came out whole, not because of magic, but because I paid for it from my own pocket.

I have been active in the NXT community for 9 months now and the small NXT community has purchased over 25 million NXT worth of TOKEN. This is almost 2000 BTC. The BTC community that is just finding out about me is at 730 BTC and the really small BTCD community that is less than 2 months old is at 200 BTC. I dont have specific figures, but i doubt that the BTCD community is bigger than 5% the NXT community, so on a per capita basis it is investing double what the NXT community is.

Now, what does this indicate? The communities that are familiar with me are investing an order of magnitude more per person than the overall BTC community. I know there are prominent people in the BTC world that are calling me a scammer and pump and dumper, so this is fine. I want to reward those that believe in me and this means that only the BTC peoples that are able to do their own homeworks about my public record will be in the same boat as the NXT and BTCD peoples.

With the scope of SuperNET, I cannot imagine that I will be making any such giant offering again. I dont count the joint venture assets I will make to help the competent devs make their fortunes. I am talking about an offering that raised more in its first hour than etherium's first hour. During a weekend, within a week after initial announcement, based on text and no fancy graphics or meetups or any marketing.

Anyway, I know there have been a lot of scams in the BTC world and since crypto is supposed to be trustless this creates a bit of cognitive dissonance. We are supposed to have faith in the blockchain and remove the need to trust people. Well, I have some news. Even BTC is trusting people. The core devs. The big mining pools. These are controlled by people and we all trust them to do what is right.

Try as we might to try to eliminate this need to trust people. It will remain for some more years. For now, you still need to trust people, so do your homeworks. Judge people by what they have done, what other people say about them and not some govt ID. How do you know its not fake ID anyway?

James

P.S. I did post my picture with the wingbats, so plz use that as my ID.

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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September 07, 2014, 10:10:18 AM
 #1568

I would rather want to hear what James thinks of Blackcoin or any other coin that applies, than what some random member on this forum thinks. Stop talking down a coin if you don't have detailed technical analysis and facts why it's not a good addition to superNET.

And stop the insulting and snarky comments, you guys sound like you're in kindergarden and it goes against the spirit of superNET... "It's a shitcoin!" "No, it's not!" "Yes, it is!" "NO"
I kindly ask to talk about specific coins in each coins thread.
Also, when you are a guest in someone's home, are you shouting obscenities and offending the host?
Really?
Are you such a horrible person in real life?
Do you spend more time online interacting with people or in real life?
If the former and you are behaving like a mannerless buffoon, but in real life have the proper manners, imagine you switched and behaved in real life like you do online.

OK wasnt that embarassing.

I dont know why it became acceptable to behave online without any form of restraint. Well, I think it is time to remember our manners. And this back and forth about coins, really? Here? You are polluting this thread with insults, profanities, etc.

I kindly ask that you do not do this. I do not want to have to create a new category in my OP alongside the list of trolls called "Mannerless Buffoons", but if you continue this type of posting, this is exactly what I will do. I will also make a nice blog post, a hall of shame. It seems I am getting some sort of media following, so wouldnt it be cool to show all your friends how you made the Trolls list or the Mannerless Buffoons list?

Please think and understand the goal of UNITY

James

P.S. I dont know much about blackcoin, but I do know they have some original tech, have not investigated in detail so I cannot say, but it certainly is not a cut and paste. Now if you just did some homeworks, this is an easy thing to find out. google! use it

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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September 07, 2014, 10:14:34 AM
 #1569

I think you may have quoted the wrong person in the above post.
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September 07, 2014, 10:20:46 AM
 #1570

Better buy with Bitcoin or NXT?  Huh
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September 07, 2014, 10:21:19 AM
 #1571

I read the OP and at least 20 pages but I still don`t understand what`s this all about

could someone please answer some of my questions , it would be very helpful.

1. what is supernet ?

2. what is the purpose of supernet ?

3. how does the price increase work ( 5%) , where will it come from after the initial investment ?

4. what happens if the price falls , or is it impossible ?

5. who controlls all the btc invested in these tokens and what happens to them ?

6. how long will it take to start supernet I mean when will it be 100% functional ?

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September 07, 2014, 10:21:58 AM
 #1572

I think you may have quoted the wrong person in the above post.
yes I thought it was clear I was 100% in agreement with McDoxy!
I did not want to embarass the Mannerless Buffoons too much, there was no warning about this. However, I did make a nice section in the OP for this, so I am ready.

apologies to McDoxy if anybody thought worse of you. I fully support your point of view.

I know everybody has their favorite coin and this is great. But please understand that SuperNET is the connecting of the different coin communities, not saying that one coin is better than the other because of this or that. So as long as it is not a cut and paste, then it does have some unique thing. Let us not judge the relative value of each coin's uniqueness. Beauty is in the eye of the beholder and so is value.

SuperNET will allow the market to vote with their commerce which coins are most useful. The job of the screening process is to eliminate the coins that are not marketable to the masses. this does not mean that these coins have nothing unique. Some coins are making calculations for prime numbers and this is somewhat unique, but I just cant see users clicking on a link that says, "click here for your prime number gift"

you see what i mean?

we need new and valuable features.

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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September 07, 2014, 10:35:13 AM
 #1573

I see the IPO is running full steam ahead so first congratulations are in order.

Keiretsu? Wow! I really have to say you know your finance stuff (or researched well). Most of crypto people would have been tongue tied answering the question with sensible arguments.

That said, first lets look at Keiretsu -- By definition it says different companies but by its working it is also about different promoters too. Here you are investing in your own assets that too borrowed from people. So it really isn't Keiretsu. Now you might say otherwise but one of the founding principles of Keiretsu is to lower risk for the companies too. In all of these assets there is one single biggest risk and that is YOU!!

JLH might be a "balanced fund" but now out of 9 assets it holds 4 of them have association with you - MgwLTC, MgwBTCD, Coinomat and NSC. On looking at trades I find it recently even held Nxtprivacy which was traded or transferred making it 50% (5 out of 10) in your own assets being held by jl777 (until yesterday):
https://nxtblocks.info/#section/txid/13869109530637325948
https://nxtblocks.info/#section/txid/18177681832696022121

Now the recipient account NXT-EVK5-KLZV-NHSZ-H4Z7R was first created on 5th and it doesn't show any bid order placements -- to buy NXTprivacy on an open market, so you have to wonder how it now owns 2.5% of the asset without any trades. Was it via some kind of trade/agreement? I don't know but makes you wonder for sure. The account received transactions from two NXT accounts:
https://nxtblocks.info/#section/accountId/NXT-ALP6-JWLS-K25S-DYTMB
https://nxtblocks.info/#section/accountId/NXT-R8SQ-TUEM-DTHQ-7ATA3

both of which again hold your assets (percentage wise)

I have just scratched the surface of your holdings and their transfer patterns. I am sure if I dig enough a pattern will emerge. To me it looks like an inter transfer to build up volume and price. This is possible because.............all transactions on NXT using 1 NXT as a fee instead of a percentage share (this is the achille's heel of NXT itself) , not really a big one if you can forge/get those back in the market, isnt?

Is there something fishy about your offering? Yes. Am I 100% sure about whats going on? No, cause I am not a full time auditor Tongue

So everyone buying this ICO (and saying "we have read the thread and understood") just be careful. JL777 has been kind enough to ask only 1 BTC if you doubt him, I would wager 0.01 BTC. But as I said in my original post, if you are being greedy, you will deserve what is coming.
All my accts are published
All my tx are on the blockchain
I do occasionally do market rate swaps to rebalance and focus a particular asset to a specific area
I dont have time to play games with the orderbook, so while you are more intelligent than most of the people accusing me of unethical behavior, the fact that you think mgwLTC is an asset of mine indicates you are not quite understanding of things

Now I have heard the many requests of people to better understand the assets. Since it sounds like you are already doing some analysis, do you want to work together so we can get some nice understandable documentation. I dont do GUI and I consider this sort of like a GUI, so I guess this is financial GUI.

If you are really interested in protecting people instead of just trying to smear my reputation, I expect an acceptance of this. We can do all the discussions of the internal transactions here, in the open. I have nothing to hide

James
Edited part of the quote.
Yes your accounts are published and yes they are on the blockchain. Problem is even with such an open book, it would require people to either not be really teary-eyed or be an excellent auditor to dig what is really happening.

MgwLTC is not your asset? Well honest mistake. If you think I am intelligent you certainly have to wonder how the mistake came about -- the answer is Nxt forum profile look up sucks, I can see your posts but not your opened threads. That makes it difficult to dig through all your assets you have issued. I assumed MgwLTC is similar to the BTC/BTCD offerings. So I do have understanding of things, its my digging which got hindered.

That said, I am certainly not out to smear or protect anyone. I don't have a horse in this race. If you remember, my initial question to you was "how come what you are doing is not a Ponzi", you said your asset formation is Keiretsu, along with me being lazy and what not, which it isnt. If you really are not doing anything wrong, answer these initial queries:

a. What is your holding pattern in each of the assets? This will clarify how much of your one asset is owned by another asset. ie answer the ponzi query clearly.

b. Even if you are consider these linked assets as Keiretsu, how do you mitigate the single point of risk - YOU. Not only from a scam point of view but also from unforeseen events too - say an IRL issues, many of us have those.

c. If your answer to above is "escrow", then who/what will be holding the "escrow". What are the terms? I have gone through the pdf and don't see the escrow terms.
It has been quite apparent from the syscoin, another IPO I bought into, that the escrow in crypto space is corrupt. slex has been changing terms for that escrow as and when he likes. worst part, his contention was wallet and blockchain, even in non-working form was enough for him to hold the coins.


That "suspicious" 2.5% of NXTprivacy was my donation to the BTCD community. We had a fund raiser to help pay for some bounties and I offered to match the value of the donations with some of my personal NXTprivacy. With the BTCD price going up about 3x from the time I made this offer last month, I decided to just send in the entire 25000 NXTprivacy I had allocated for this donation, before the BTCD price increase would prevent me from being able to match with the 25000 NXTprivacy.

I know I am just so evil

James

P.S. If you look at any NXT acct with more than 100K NXT in it, my guess is that they probably have at least one, if not many of my assets. For some reason, the fact that they have gained over 125 million NXT in the last 4 months has made them popular.
This post makes me wonder if you are actually two person Tongue (no smearing meant).

Read my initial post - " Was it via some kind of trade/agreement? I don't know but makes you wonder for sure" So no I dint say you were evil but yes it was surprising for an BTCD outsider. Wouldn't you agree?

As for the donation, you donated it out of the JHL asset (from what I can see on the blockchain) and not your personal account. So how come it is your personal NXTprivacy assets? Or have I missed some documentation where assets held by your own assets like JHL are your personal stash? Similar thing has happened with SuperNet, isnt it? You have allocated the 10% BBR held by sharkfund0 to this asset, maybe within your rights as a fund manager. then  you could do something similar next time too, couldnt you? Open another asset called SuperDuperNet and allocate 5-10% of Supernet to it..see where I am coming from?

If we were to talk about playing with the orderbook, please explain me this. Instadex (again another of your asset) was stuck at 40 NXT for quite a long time. You came up with the first draft of Supernet where you disclosed about the increasing ownership in Instadex. A market changing information, it actually broke the range and now is at a high of 57 NXT. Would you say this was correct in your part? Specially when yourself talk about "jl777 effect" and then pump your own asset, knowingly/unknowingly?

Anyways, I think I have posted enough proofs for people to look into. Its up to them to decide what they want to do. If giving you 10k BTC is their prerogative, so be it.
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September 07, 2014, 10:36:10 AM
 #1574

Respect for the elaborate OP! But could someone summarize what SuperNET will bring in terms of functionality and how it is implemented (does it rely on the NXT blockchain?)?

So I need NXT to buy the SuperNET tokens? I guess the sale began yesterday and ends in two weeks. Is that correct?
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September 07, 2014, 10:36:51 AM
 #1575

I read the OP and at leat 20 pages but I still don`t understand what`s this all about

could someone please answer some of my questions , it would be very helpful.

1. what is supernet ?
https://altcoinherald.com/supernet-seeks-unify-warring-altcoin-states/

2. what is the purpose of supernet ?
to unite the disparate crypto communities into a single marketplace to give proper exposure to the worthy tech that is already being developed but unable to reach a mass audience.

3. how does the price increase work ( 5%) , where will it come from after the initial investment ?
NXT and BTCD purchases get a small bonus. it is only available during TOKEN sale

4. what happens if the price falls , or is it impossible ?
I outlined some really worst case scenario where 40% capital loss was possible, but it included the total collapse of NXT, NXT assets and supertraders losing their entire bankroll and all the SuperNET invested coins to blowup and become worthless. A more realistic worst case scenario is 10% to 20% loss. I suggest to use -20% as an estimated worst case scenario.

5. who controlls all the btc invested in these tokens and what happens to them ?
I will control 1%, so currently that would be about 30 BTC, which is 270 BTC less than the 300 BTC I would put in. There are defined uses for the other funds and as long as the proper protocol is followed, these funds are disbursed by the trustees. For expenditures outside the normal, a decentralized voting will be done where the SuperNET assetholders can decide to fund or not fund.

6. how long will it take to start supernet I mena when will it be 100% functional ?
I expect SuperNET to be continually enhanced as each coin added will be adding to it. The base protocol is something I was about to debug today. Once this is debugged, then we can start testing and hire code reviewers. Keep in mind the transport layer is allowing connecting any user of any coin (in SuperNET) to any other. To make this useful at all there needs to be an API call implemented that actually does something. Hence the desire to add coins that do something useful. Teleport is on track to be done this month, I am aiming for next month for InstantDEX and initial Tradebots and also the first of the new coins integrated into SuperNET. By the end of the year we should start seeing some revenues being generated.

answers above

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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September 07, 2014, 10:37:08 AM
 #1576

Hello James,

Is this coin yours too? jl777hodl  as it has the beginning of your name.

If so will this have an involvement in Supernetwork and how?

I know you have btcd but how can you work in so many proyect at the same time btcd, Supernetwork etc and write on this forum and others, how many hands and eyes do you have?
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September 07, 2014, 10:42:10 AM
 #1577

Hello James,

Is this coin yours too? jl777hodl  as it has the beginning of your name.

If so will this have an involvement in Supernetwork and how?

I know you have btcd but how can you work in so many proyect at the same time btcd, Supernetwork etc and write on this forum and others, how many hands and eyes do you have?

jl777hodl  is like a holding "company". It contains about 10% of all the assets James has created.





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SuperNET.org
..BarterDEX..
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September 07, 2014, 10:42:31 AM
 #1578

I read the OP and at leat 20 pages but I still don`t understand what`s this all about

could someone please answer some of my questions , it would be very helpful.

1. what is supernet ?
https://altcoinherald.com/supernet-seeks-unify-warring-altcoin-states/

2. what is the purpose of supernet ?
to unite the disparate crypto communities into a single marketplace to give proper exposure to the worthy tech that is already being developed but unable to reach a mass audience.

3. how does the price increase work ( 5%) , where will it come from after the initial investment ?
NXT and BTCD purchases get a small bonus. it is only available during TOKEN sale

4. what happens if the price falls , or is it impossible ?
I outlined some really worst case scenario where 40% capital loss was possible, but it included the total collapse of NXT, NXT assets and supertraders losing their entire bankroll and all the SuperNET invested coins to blowup and become worthless. A more realistic worst case scenario is 10% to 20% loss. I suggest to use -20% as an estimated worst case scenario.

5. who controlls all the btc invested in these tokens and what happens to them ?
I will control 1%, so currently that would be about 30 BTC, which is 270 BTC less than the 300 BTC I would put in. There are defined uses for the other funds and as long as the proper protocol is followed, these funds are disbursed by the trustees. For expenditures outside the normal, a decentralized voting will be done where the SuperNET assetholders can decide to fund or not fund.

6. how long will it take to start supernet I mena when will it be 100% functional ?
I expect SuperNET to be continually enhanced as each coin added will be adding to it. The base protocol is something I was about to debug today. Once this is debugged, then we can start testing and hire code reviewers. Keep in mind the transport layer is allowing connecting any user of any coin (in SuperNET) to any other. To make this useful at all there needs to be an API call implemented that actually does something. Hence the desire to add coins that do something useful. Teleport is on track to be done this month, I am aiming for next month for InstantDEX and initial Tradebots and also the first of the new coins integrated into SuperNET. By the end of the year we should start seeing some revenues being generated.

answers above

James

thanks much appreciated  Smiley
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September 07, 2014, 10:51:22 AM
 #1579

Thanks for the quote. This https://altcoinherald.com/supernet-seeks-unify-warring-altcoin-states/ says what the purpose of SuperNET is but not how it works and the OP is a wall of text Smiley Could you direct me to the parts which describe how it is supposed to "unite all altcoins"?
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September 07, 2014, 10:52:24 AM
 #1580

Hello James,

Is this coin yours too? jl777hodl  as it has the beginning of your name.

If so will this have an involvement in Supernetwork and how?

I know you have btcd but how can you work in so many proyect at the same time btcd, Supernetwork etc and write on this forum and others, how many hands and eyes do you have?

jl777hodl  is like a holding "company". It contains about 10% of all the assets James has created.

I know this question might sound stupid but I rather ask than no to understand it 100 per cent

So jll777hodl is like a holding "company". It contains about 10% of all the assets James has created. and supernetwork is disparate crypto communities into a single marketplace , so is not very similar jll777holdl contains assets and supernetwork will contains assets? please explain the difference
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