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

[allwelder]

Anybody that is trading TOKEN after Thursday 1200 GMT will be taking a risk of paying for something that has already been replaced. I strongly advise to not trade TOKEN after Tuesday.

James

Once I get my superNET I will be sending my Tokens to Genesis. I think all honest TOKEN investor should do the same, since it is to easy for noobs to possible come in an get scammed. I was hoping it would be required to be issued superNET, but apparently it is not.

I think JL777 can choose deal like this:
TOKEN assets holder need to send TOKEN to jl777 for New SuperNet.
So all TOKEN assets will be collected and for subsequent Genesis sending or other methods.

[1715069050]

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[1715069050]

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[jl777]

This is the most confusing thing I've ever seen and I'm no newb to the arena.  I first started researching this on Friday, but since then I've spent about a dozen hours on threads, reading whitepapers, websites, IRC, and your blog.

I understand the technology idea behind SuperNET - and I think its a good one, but you would have gotten a ton more money if you'd have bothered to explain the financial aspects much better.  (Piecing together the NAV funding, the asset NAV funding, and the myriad of ways you expect SuperNET to generate revenue is frankly just a hot mess).  It's so bad, everyone I've personally talked to about SuperNET has not invested because they don't understand it. 

Moving into trading in two days, the best thing you can do to increase the value is take the time to explain the financial vision (funding and revenue) in detail.  Better yet, have someone else do it.  Sometimes, when a person is living and breathing a complex idea it seems so fundamentally obvious that they just can't explain it well.  We need single, concise document that explains SuperNET in its current incarnation in a ELI5 capacity.

I hope some of you who know James well and are invested in his vision can take the time to do this for him.  I would volunteer to be involved, but I'm not really even sure where to begin.  Every time I think I get the gist I read something that casts doubt on my basic assumptions - as evidenced by my own posts in this thread.  I'm of course happy to contribute to the discussion though. 

To close, I've invested 6.5 BTC into super net, but I would have gone much bigger if I felt like like I fully understood the financial aspects of it.  I *know* I'm not the only one who feels this way.  Lets get something out there that explains the vision in detail before we start to trade on Thursday.

I think a reasonable valuation is 3x NAV, but if everybody who would buy has already bought, where would the aftermarket demand come from? As most of the core SuperNET owners will be long term HODL, as people discover all the contributors to the SuperNET valuation, the demand will come in from the people that were on the sidelines, or not fully invested.

My primary reason for doing this is not to maximize my personal ROI, but rather to maximize the ROI for the people who bought TOKEN.

Just like all the people that bought my other assets early and BTCD, the ones that spend the time to fully understand or put their trust in me, these are the people that will get the biggest ROI. Long term the NAV based valuation will diminish in importance, and the amount raised the potential for some nice ROI exists.

there is a graphical display being worked on like http://www.nxttechnologytree.com/

James

[jl777]

Anybody that is trading TOKEN after Thursday 1200 GMT will be taking a risk of paying for something that has already been replaced. I strongly advise to not trade TOKEN after Tuesday.

James

Once I get my superNET I will be sending my Tokens to Genesis. I think all honest TOKEN investor should do the same, since it is to easy for noobs to possible come in an get scammed. I was hoping it would be required to be issued superNET, but apparently it is not.

I think JL777 can choose deal like this:
TOKEN assets holder need to send TOKEN to jl777 for New SuperNet.
So all TOKEN assets will be collected and for subsequent Genesis sending or other methods.

valarmg is working on a redemption method
so it is possible NXT AE TOKEN purchasers will have to transfer their TOKEN to a redeem address to get the SuperNET asset

James

[windjc]

Do I get this right, guys?

Total sum of IPO is gonna be around 5k BTC. Than James is gonna throw in another 2k worth of assets and gets 500 BTC in return. Another 500 BTC stay in superNet as a reserve for operational costs. So the investors pay 5k BTC to get something immediately worth 6.5k BTC? That's 30% guaranteed profit for doing nothing. That can't be true. I must be missing something here, right?

No you got it right. Some thought it was too good to be true. Those of us who knew James invested big.

[vipgelsi]

James great job ass allways.

[windjc]

I understand the technology idea behind SuperNET - and I think its a good one, but you would have gotten a ton more money if you'd have bothered to explain the financial aspects much better.  (Piecing together the NAV funding, the asset NAV funding, and the myriad of ways you expect SuperNET to generate revenue is frankly just a hot mess).  It's so bad, everyone I've personally talked to about SuperNET has not invested because they don't understand it.  

+1. This is my last, of many, posts / hours on this thread / in the IRC. If I can't understand what you're doing, why would I give you money?

You know I wish more people would have listened when us "Nxters" were yelling from the roof tops about how great the Nxt Asset exchange was and this great programmer who coded the MultiGateway.  If more people had listened, instead of dismissed Nxt as some "scam," then these people would already have months of case studies to understand what SuperNet is.

I'm not saying that you, Vlad, were one of these people, but it is a good example of how people really need to invest their time into research and less time into reading troll posts that circulate the forum.

[UNO_owner]

I think a reasonable valuation is 3x NAV, but if everybody who would buy has already bought, where would the aftermarket demand come from? As most of the core SuperNET owners will be long term HODL, as people discover all the contributors to the SuperNET valuation, the demand will come in from the people that were on the sidelines, or not fully invested.

My primary reason for doing this is not to maximize my personal ROI, but rather to maximize the ROI for the people who bought TOKEN.

Just like all the people that bought my other assets early and BTCD, the ones that spend the time to fully understand or put their trust in me, these are the people that will get the biggest ROI. Long term the NAV based valuation will diminish in importance, and the amount raised the potential for some nice ROI exists.

there is a graphical display being worked on like http://www.nxttechnologytree.com/

James

As someone with experience in stocks, the fact that the IPO was so close to the price of backed assets drew me in.  It absolutely should be trading at some multiple of that considering there is dividends on the table.  Yet,  I'll be the first to admit one of the main reasons I invested what I did was the fact that there was not much hype about it.  The first day there was some tweets about how fast the IPO sold out, but that was it.  Add that to the fact that not a single person I talked to was willing to invest a significant amount of money in SuperNET due to lack of understanding and there is incredible room for growth.

So, to be clear.  Love the fact that you don't hype.  I'm not a pump and dump fan.  BUT!!!  I do think that a comprehensive explanation of the financial aspects of SuperNET is of the utmost importance moving forward.  We need one concise place people can read all the numbers, crunch all the math, and figure out for themselves that UNITY is a win at .03, .05, .07 and beyond.

Looking forward to seeing what the group you referenced puts out.

[eKiTeL]

sorry for dumb noob question, but if I want to buy SuperNET before the end of ICO I could just transfer some NXT to my account on https://trade.secureae.com and buy "token" there?

Yes you can

https://trade.secureae.com/#15641806960898178066

looks like it's already being traded there, I thought this was an ICO?

The offering from "Asset Issuer" is james. But, there is nothing to keep others from trading token at this point. It is those that trade it after superNet is issued that I would question. Unless they are trading for dust just to collect it for posterity sake.

so to get in on the ICO go here: https://bter.com/trade/TOKEN_BTC 

I really don't get the dust comment, I guess I have tons of research to do to understand what any of this is about....

Dust is just a word for a very small amount. With BTC small amounts like 100 sat and less are just "dust".

yes I understood that dust means next to nothing, that's not that part the I didn't get, you're probably assuming I have more context in which to place your statement

[jl777]

I think a reasonable valuation is 3x NAV, but if everybody who would buy has already bought, where would the aftermarket demand come from? As most of the core SuperNET owners will be long term HODL, as people discover all the contributors to the SuperNET valuation, the demand will come in from the people that were on the sidelines, or not fully invested.

My primary reason for doing this is not to maximize my personal ROI, but rather to maximize the ROI for the people who bought TOKEN.

Just like all the people that bought my other assets early and BTCD, the ones that spend the time to fully understand or put their trust in me, these are the people that will get the biggest ROI. Long term the NAV based valuation will diminish in importance, and the amount raised the potential for some nice ROI exists.

there is a graphical display being worked on like http://www.nxttechnologytree.com/

James

As someone with experience in stocks, the fact that the IPO was so close to the price of backed assets drew me in.  It absolutely should be trading at some multiple of that considering there is dividends on the table.  Yet,  I'll be the first to admit one of the main reasons I invested what I did was the fact that there was not much hype about it.  The first day there was some tweets about how fast the IPO sold out, but that was it.  Add that to the fact that not a single person I talked to was willing to invest a significant amount of money in SuperNET due to lack of understanding and there is incredible room for growth.

So, to be clear.  Love the fact that you don't hype.  I'm not a pump and dump fan.  BUT!!!  I do think that a comprehensive explanation of the financial aspects of SuperNET is of the utmost importance moving forward.  We need one concise place people can read all the numbers, crunch all the math, and figure out for themselves that UNITY is a win at .03, .05, .07 and beyond.

Looking forward to seeing what the group you referenced puts out.

you are welcome to help out the group in the superNET forum
I dont do GUI or marketing, just build stuff like automated money making machines

[jd1959]

Hi guys
This is like waiting for Christmas Day when I was a kid....Its so exciting.I'll leave out some milk and cookies just in case James really is Santa

Jon 

[onsightit]

there is a graphical display being worked on like http://www.nxttechnologytree.com/

James

Ah, the "jl777 nebulous"! Departure on the SuperNet Teleport will begin Thursday, 1200 GMT. Get your tokens now...

I agree, some form of marketing document(s) would be great. Only in crypto do you see millions invested based on "he said she said on bitcointalk.org."  I've seen the "simplified" technical diagram, but there's nothing I could sit down and discuss with my non-technical spouse and say, "this looks like a sound investment because..."  Bubbles in space are cool, but apart from giving me a psychedelic flash-back, I could not gain any useful investment information from it.

tldr: I totally understand the passion behind the project, but it needs to be concisely translated.

EDIT: Maybe a video?  It is our strongest sensory input...

[cryptodevil]

as soon as the SuperNET asset is distributed, TOKEN loses all value so I strongly advise to remove any TOKEN bids in the AE after 1400 GMT on Tuesday

James

This needs to be more prominently visible in order to avoid people claiming they weren't informed and bought cheap after the deadline thinking they'd picked up a bargain.

Perhaps also have the exchange screens display it.

[patmast3r]

as soon as the SuperNET asset is distributed, TOKEN loses all value so I strongly advise to remove any TOKEN bids in the AE after 1400 GMT on Tuesday

James

This needs to be more prominently visible in order to avoid people claiming they weren't informed and bought cheap after the deadline thinking they'd picked up a bargain.

Perhaps also have the exchange screens display it.

I don't even understand why they lose value in the first place. If TOKEN has to be redeemed by sending them to an address I can send a TOKEN that I bought at anytime right ? So why would unredeemed TOKENs ever lose value before the time limit for redemption (I'm guessing there will be one) ?

[HarriHirsch]

Sorry, if that was answered before...

I voted yesterday in the morning via AE and in the evening I bought some more Token on AE  

Must I vote again with the higher number of stakes in my account?

And is there already a way to vote via bter (there I have some more...)?

[jl777]

Sorry, if that was answered before...

I voted yesterday in the morning via AE and in the evening I bought some more Token on AE  

Must I vote again with the higher number of stakes in my account?

And is there already a way to vote via bter (there I have some more...)?

your vote will be weighted by the amount of TOKEN you have at the closing of voting
no need to vote again on AE, but if you also have TOKEN on bter, then yes you would need to vote there

still waiting on bter URL

[jl777]

as soon as the SuperNET asset is distributed, TOKEN loses all value so I strongly advise to remove any TOKEN bids in the AE after 1400 GMT on Tuesday

James

This needs to be more prominently visible in order to avoid people claiming they weren't informed and bought cheap after the deadline thinking they'd picked up a bargain.

Perhaps also have the exchange screens display it.

I don't even understand why they lose value in the first place. If TOKEN has to be redeemed by sending them to an address I can send a TOKEN that I bought at anytime right ? So why would unredeemed TOKENs ever lose value before the time limit for redemption (I'm guessing there will be one) ?

due to this we will be implementing an automate TOKEN <-> SuperNET redemption address. just need to send the TOKEN to that address and it will send back a matching amount of SuperNET. valarmg is not sure he will have this ready by Thursday, so there could be a bit of a delay for starting trading, but it seems worth it to avoid any confusions

after the initial voting, TOKEN wont get any more voting rights, it will only be if you have the SuperNET. Also any dividends due to the SuperNET will not go to TOKEN, so it is vote less and dividend less. Hopefully people will redeem the TOKEN pretty quickly

James

P.S. this is not a problem for bter TOKEN as 100% will be automatically exchanged

[HarriHirsch]

This is the most confusing thing I've ever seen and I'm no newb to the arena.  I first started researching this on Friday, but since then I've spent about a dozen hours on threads, reading whitepapers, websites, IRC, and your blog.

I understand the technology idea behind SuperNET - and I think its a good one, but you would have gotten a ton more money if you'd have bothered to explain the financial aspects much better.  (Piecing together the NAV funding, the asset NAV funding, and the myriad of ways you expect SuperNET to generate revenue is frankly just a hot mess).  It's so bad, everyone I've personally talked to about SuperNET has not invested because they don't understand it. 

Moving into trading in two days, the best thing you can do to increase the value is take the time to explain the financial vision (funding and revenue) in detail.  Better yet, have someone else do it.  Sometimes, when a person is living and breathing a complex idea it seems so fundamentally obvious that they just can't explain it well.  We need single, concise document that explains SuperNET in its current incarnation in a ELI5 capacity.

I hope some of you who know James well and are invested in his vision can take the time to do this for him.  I would volunteer to be involved, but I'm not really even sure where to begin.  Every time I think I get the gist I read something that casts doubt on my basic assumptions - as evidenced by my own posts in this thread.  I'm of course happy to contribute to the discussion though. 

To close, I've invested 6.5 BTC into super net, but I would have gone much bigger if I felt like like I fully understood the financial aspects of it.  I *know* I'm not the only one who feels this way.  Lets get something out there that explains the vision in detail before we start to trade on Thursday.

I think, I understand what supernet will be - a combination of funds and metacoin/asset. But I am also dev (erp, not crypto), so it is easy to understand the language and the drawings.
I am convinced, that this will be a great leap forward for crypto - combining the advantages of several coins and assets/projects for the benefit of the user. I am in 

Maybe an explanation for non-devs would be useful

[jl777]

This is the most confusing thing I've ever seen and I'm no newb to the arena.  I first started researching this on Friday, but since then I've spent about a dozen hours on threads, reading whitepapers, websites, IRC, and your blog.

I understand the technology idea behind SuperNET - and I think its a good one, but you would have gotten a ton more money if you'd have bothered to explain the financial aspects much better.  (Piecing together the NAV funding, the asset NAV funding, and the myriad of ways you expect SuperNET to generate revenue is frankly just a hot mess).  It's so bad, everyone I've personally talked to about SuperNET has not invested because they don't understand it. 

Moving into trading in two days, the best thing you can do to increase the value is take the time to explain the financial vision (funding and revenue) in detail.  Better yet, have someone else do it.  Sometimes, when a person is living and breathing a complex idea it seems so fundamentally obvious that they just can't explain it well.  We need single, concise document that explains SuperNET in its current incarnation in a ELI5 capacity.

I hope some of you who know James well and are invested in his vision can take the time to do this for him.  I would volunteer to be involved, but I'm not really even sure where to begin.  Every time I think I get the gist I read something that casts doubt on my basic assumptions - as evidenced by my own posts in this thread.  I'm of course happy to contribute to the discussion though. 

To close, I've invested 6.5 BTC into super net, but I would have gone much bigger if I felt like like I fully understood the financial aspects of it.  I *know* I'm not the only one who feels this way.  Lets get something out there that explains the vision in detail before we start to trade on Thursday.

I think, I understand what supernet will be - a combination of funds and metacoin/asset. But I am also dev (erp, not crypto), so it is easy to understand the language and the drawings.
I am convinced, that this will be a great leap forward for crypto - combining the advantages of several coins and assets/projects for the benefit of the user. I am in 

Maybe an explanation for non-devs would be useful

./BitcoinDarkd SuperNET '{"requestType":"sendmessage","dest":"RN3K9dguHfXfnuLPjSy67ysbgtrNnq4ohm","msg":"hello"}'

the above invokes the SuperNET API call sendmessage and sends "hello" to the destination address RN3K9dguHfXfnuLPjSy67ysbgtrNnq4ohm the destination address is a public address that is published by each user. of course all this will be accessed via GUI, but maybe if people can see how simple it is to use at the command line level, maybe somebody can come up with a way to explain it to non-devs.

new commands are added by adding support to a table of API calls. So a new coin/website could implement a set of new API calls with a common prefix. Anything that can be encoded in a JSON string can become a SuperNET API. Of course, there needs to be code that actually implements the functionality, but this is all in C/C++ code so anything that can be accessed on the computer can be put into a SuperNET API.

All wallets will have a unique 64-bit address and any node can contact any other node, at least once I get the routing all debugged.

James

[jl777]

some early vote totals:

Code:

ApproveBonus: NXT-GR5T-8W3L-UFQP-8VFPVRejectBonus: NXT-FCHV-C8VL-YWFJ-EELVV
Timestamp: 26165360 (Tue, 23 Sep 2014 08:09:20 GMT)
Weighting via amount of asset in account, assetID=15641806960898178066
--------VOTES----------
NXT-FS84-X3AH-2CZQ-7FCVQ, vote=ApproveBonus, weight=2000
NXT-MRBN-8DFH-PFMK-A4DBM, vote=NOT COUNTED, ISSUING ACCOUNT, weight=0
NXT-7KAJ-FHM6-EAD7-7NSA7, vote=ApproveBonus, weight=10
NXT-FDW8-THXX-PY8X-9VK6M, vote=ApproveBonus, weight=10
NXT-44ZJ-ZEGC-4MZU-BHEDB, vote=ApproveBonus, weight=20
NXT-KUU3-FXUT-KYY2-GVLW5, vote=ApproveBonus, weight=110
NXT-KYQ8-DBT2-4PQ7-65LGV, vote=ApproveBonus, weight=68
NXT-LKCS-8GVP-VN8Q-7D6PA, vote=ApproveBonus, weight=25
NXT-93FD-7YBJ-44EU-CNYJT, vote=ApproveBonus, weight=25
NXT-D9N8-W2UF-VF7J-D8N6S, vote=ApproveBonus, weight=6186
NXT-6FZ6-BNL7-LKSB-HPFKM, vote=ApproveBonus, weight=500
NXT-A6DL-4GN2-SPA2-A3KKL, vote=ApproveBonus, weight=200
NXT-CWU6-7HAJ-DKD6-47RLA, vote=ApproveBonus, weight=40
NXT-DFDV-58KQ-LTD7-9XC9T, vote=ApproveBonus, weight=3002
NXT-LCK5-XM8T-L5TM-3R7H4, vote=ApproveBonus, weight=0
NXT-5C45-E8JS-AC42-7KMSQ, vote=ApproveBonus, weight=0
NXT-5ZCV-KNGM-W5QK-HJ8FN, vote=ApproveBonus, weight=30
NXT-6DRG-8Y7R-MWWX-4966R, vote=ApproveBonus, weight=1089
NXT-76VN-YGGB-ZCEH-HU6G3, vote=ApproveBonus, weight=701
NXT-7J3A-8H99-G3XF-GVTJN, vote=ApproveBonus, weight=513
NXT-GWFG-JAPF-8AZG-4P5R5, vote=ApproveBonus, weight=500
NXT-CHGW-7472-MB8R-C6SKT, vote=ApproveBonus, weight=21
NXT-CBT7-LSFJ-LVH5-F2Z6T, vote=ApproveBonus, weight=260
NXT-7WWM-Z57T-5MSK-7AJYC, vote=ApproveBonus, weight=266
NXT-A5KL-MHZH-QNFR-BUREW, vote=ApproveBonus, weight=60
NXT-9SYB-C2GF-JA2X-2R4S3, vote=ApproveBonus, weight=250
NXT-SQBJ-6RU2-G6U6-9LRJD, vote=ApproveBonus, weight=152
NXT-UDHN-A4VD-JMWP-GQY57, vote=ApproveBonus, weight=435
NXT-N969-VBNG-QJD9-H3S9V, vote=ApproveBonus, weight=350
NXT-PMSG-QVK7-W9ZW-4FNPJ, vote=ApproveBonus, weight=200
NXT-U49W-4KNB-ATU5-GKEMZ, vote=ApproveBonus, weight=70
NXT-RA6F-TBCY-CAZA-GHHME, vote=ApproveBonus, weight=138
NXT-N7US-CHK3-THEF-3ARQK, vote=ApproveBonus, weight=147
NXT-RK5U-NNTH-3AAS-55K77, vote=ApproveBonus, weight=650
NXT-NS43-UEQN-XKP9-4BNKQ, vote=ApproveBonus, weight=168
NXT-TMFP-KSA2-Y29L-69W3R, vote=ApproveBonus, weight=500
NXT-ULR2-T4TH-4X7P-8WVPV, vote=ApproveBonus, weight=94
NXT-ULX3-JFFQ-Q9NV-CD3LU, vote=ApproveBonus, weight=171
NXT-UWJU-XXST-3MPQ-2JWG7, vote=ApproveBonus, weight=1
NXT-VR3X-5HLQ-37B8-HGFBH, vote=ApproveBonus, weight=0
NXT-VRQQ-64HY-F4QH-3AQQQ, vote=ApproveBonus, weight=644
NXT-W6G8-F4ES-MSTS-5269V, vote=ApproveBonus, weight=210
-----------------------
ApproveBonus: 100.00%, RejectBonus: 0.00%

[cryptodevil]

some early vote totals:

James, you might have to throw in a 'No' vote yourself, just to prove that side of the voting functions properly!