[ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer

[Cassius]

Hello Lord Trollmore.

[Este Nuno]

WARNING

SuperNET appears to be an investment fund in altcoins. It is also a technology to enable the nodes of the participating altcoins to interact via common services of the SuperNET.

This is the wrong strategy. Users want simplicity not complexity. James adds layer upon layer of complexity.

This does not provide the correct economic motivation for participating altcoin developers, as it will encourage them to create one-feature shitcoins that get bought up by the fund when they are approved as participating coins.

The anonymity design is disorganized babble that doesn't even for example address DDoS among other relevant technological issues.

Thus these projects should be treated as greater fool investing speculations. Make you sure you sell at the peak on the frenzied race to buy in, because the price will later drop like a rock as did NXT.

I agree that users want simplicity, isn't having one GUI where you can assess everything about as simple as it gets?

If a developer comes up with a new technology and it's novel and useful enough to be included in superNET I don't think you can really call it a 'shitcoin'.

I'd say the economic intensives actually line up better than they do now. Developers can focus on building tech, rather than worrying about how they plan to market their coin. Developers who create new tech get rewarded by having it accessable to the users on the superNET. Seems fairly straightforward to me.

DDoS is absolutely a concern and I know for a fact that James is consulting with experts in the field behind the scenes to help mitigate such issues as time goes on.

[PilotofBTC]

Looking forward to seeing some more 'Asset Issuer' Tokens listed for sale on the AE

No need to wait. There is a sell order by the issuer of 5000 tokens. But, there are about 2400 tokens offered below issuer's price right now. Buy those... you will save a few NXT.

[michaelb87]

WARNING

SuperNET appears to be an investment fund in altcoins. It is also a technology to enable the nodes of the participating altcoins to interact via common services of the SuperNET.

This is the wrong strategy. Users want simplicity not complexity. James adds layer upon layer of complexity.

This does not provide the correct economic motivation for participating altcoin developers, as it will encourage them to create one-feature shitcoins that get bought up by the fund when they are approved as participating coins.

The anonymity design is disorganized babble that doesn't even for example address DDoS among other relevant technological issues.

Thus these projects should be treated as greater fool investing speculations. Make you sure you sell at the peak on the frenzied race to buy in, because the price will later drop like a rock as did NXT.

You are pathetic to create a newbie account just to post crap like this. Nobody listens to you loser 

[Este Nuno]

WARNING

SuperNET appears to be an investment fund in altcoins. It is also a technology to enable the nodes of the participating altcoins to interact via common services of the SuperNET.

This is the wrong strategy. Users want simplicity not complexity. James adds layer upon layer of complexity.

This does not provide the correct economic motivation for participating altcoin developers, as it will encourage them to create one-feature shitcoins that get bought up by the fund when they are approved as participating coins.

The anonymity design is disorganized babble that doesn't even for example address DDoS among other relevant technological issues.

Thus these projects should be treated as greater fool investing speculations. Make you sure you sell at the peak on the frenzied race to buy in, because the price will later drop like a rock as did NXT.

Please explain me how do you want DDoS a decentral system ? The whole idea about crypto currency is that it is a decentral system not like the FIAT one. The only thing you can DDoS is Central Exchange system as far i know is Supernet part of NxT exchange system which is already decentral and leaves the Attackers no chance for them to do anything.

There are always security concerns in any system. It's not unreasonable at all for people to question such things in my opinion. As long as the operating funds are available to fund external code audits and security consultants, I'm pretty sure James is intent on making use of such resources. A lot of this is probably contingent on people voting for the resolution to receive the set of assets in exchange for the expansion of funding. Even without the additional asset add offered by James people should be willing to vote for the expansion of James' operating funds regardless. 50 BTC isn't going to cut it for a project of this magnitude and I think anyone would agree with that assessment. The fact that he's offering the asset bundle is just a big bonus for shareholders.

[kyma]

I was at an etherium conference the other day... kinda reminded me of supernet... started to wonder how they are going to deal with a massive blockchain if all the apps and data are stored in it. Then i realized supernet essentially will have multiple blockchains with one managing the sub chains. each chain offering a specific service. this is great!

[Este Nuno]

I was at an etherium conference the other day... kinda reminded me of supernet... started to wonder how they are going to deal with a massive blockchain if all the apps and data are stored in it. Then i realized supernet essentially will have multiple blockchains with one managing the sub chains. each chain offering a specific service. this is great!

Interesting way to look at it.

Actually, that's a really good idea for someone to develop a new currency that can be added to superNET that provides similar capabilities to Ethereum with regards to the programmable blockchain and being Turing complete. Someone could create a slimmed down version of Ethereum that will be able to offer similar services to people using the superNET. Like you metion, the blockchain size will have no effect on the end users of superNET at all but they should still be able to take advantage of all the different features being offered.

[PilotofBTC]

Please explain me how do you want DDoS a decentral system ? The whole idea about crypto currency is that it is a decentral system not like the FIAT one. The only thing you can DDoS is Central Exchange system as far i know is Supernet part of NxT exchange system which is already decentral and leaves the Attackers no chance for them to do anything.

Of course it is possible. You flood the network with transactions. The network should be able to respond to this and black list the node doing this though.

But, I can't take a sockpuppet account seriously. Be a man and post under you main account "youareanidiot" or whatever you name is.

[Cassius]

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.

[PilotofBTC]

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.

[Cornett]

Hello guys!

What coins will be integrated in Supernet except BBR?

[SHossain]

Hello guys!

What coins will be integrated in Supernet except BBR?

Signup for newsletter at http://thesupernet.org/. You will get the updates delivered to your mailbox. They will not be announced here.

[Cassius]

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.

[PilotofBTC]

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?

[valarmg]

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?

Having an exchange required would cause additional difficulties. What happens to people who don't realize that they have to exchange (similar problem to what happens when people don't realize TOKEN is no longer worth anything.)? Also, it would involve a lot of doing exchanges by hand, given there are 1000 trades, that's a lot of work.

Redeeming TOKEN for UNITY and making it not worth anything should be handled very carefully though. Maybe a few days without selling before the redeem date?

[valarmg]

Atomic Dividends have been paid to NxtVenture holdings:

https://nxtforum.org/nxtventures/nxtventure-the-way-for-the-most-promising-enterprises-to-get-ae-listing/msg102688/#msg102688

[PilotofBTC]

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?

Having an exchange required would cause additional difficulties. What happens to people who don't realize that they have to exchange (similar problem to what happens when people don't realize TOKEN is no longer worth anything.)? Also, it would involve a lot of doing exchanges by hand, given there are 1000 trades, that's a lot of work.

Redeeming TOKEN for UNITY and making it not worth anything should be handled very carefully though. Maybe a few days without selling before the redeem date?

It could be automated. Even by a "simple C" programmer.

[klee]

Proposal:

What about seeding NEW coins being developed with unique features? Devs could make their proposals and maybe one or more are chosen for funding.

This is huge in so many ways..

[valarmg]

It could be automated. Even by a "simple C" programmer.

Of course it could be, but it's plenty of work to set up an automation script for just one use case. (Do you volunteer? I think James is tied up working on teleport.) Plus, getting everyone to send back their TOKEN would take forever. There'd always been one or two or a dozen laggards.

[Cassius]

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.