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

[jl777]

James,

have part of the sales done on NXT AE.

If one token on Poloniex is to be priced at 0.01 BTC, just put it for sale at NXT AE at ~150 NXT which is the same price in BTC + 5% bonus for NXTers, or whatever the 0.01 BTC divided by NXT price in satoshi will be at the start of the sale. Some investors like to buy at Poloniex, some would prefer NXT AE, why limit options? This helps diversify exchange risks as well. Not that I don't trust Poloniex, but I trust NXT AE more, I am sure some NXTers would agree with this point. Because you will store some NXTs in reserves, the option of selling some tokens on NXT AE makes perfect sense, don't you think? Yeah sure, there are price fluctuations of NXT/BTC, but BTC/USD fluctuates too, and I think the trustless NXT AE vs centralized exchange more than justifies the risk of exchange rate fluctuations for some investors. Don't limit their options, give them a choice. Issue a big enough quantity of tokens and then send the unsold ones to Genesis block to destroy after the sale is over and everyone got their purchased quantities.

The price will be changing every minute based on exchange rates and bonus.

I am thinking on this. I will post the process soon and then once this is understood, I am open to suggestions on how to do it without having to babysit it or write a custom code as I am trying to get the time to debug the Teleport

James

[devphp]

The price will be changing every minute based on exchange rates and bonus.

I am thinking on this. I will post the process soon and then once this is understood, I am open to suggestions on how to do it without having to babysit it or write a custom code as I am trying to get the time to debug the Teleport

James

I understand that. Lock in the price of NXT/BTC at the start of the sale including the 5% bonus, you don't have to babysit it and change the price of ask offer with every NXT/BTC fluctuation. The price can change in both directions, and investors will take that risk in exchange for more security provided by a trustless decentralized trading platform. Of course, who doesn't like that - they can buy at Poloniex, but give people a choice.

[devphp]

You could also put a new ask offer once a day, that will take into account the new NXT/BTC rate and the 15%, 14%, etc. discount for early investors.

[open82buy]

There's a steady flow of NXT and BTC flowing into Poloniex at the moment. 

[ShroomsKit_Disgrace]

There's a steady flow of NXT and BTC flowing into Poloniex at the moment. 

proofs?

[Momimaus]

I have an economical question here about the investment - purely from a greed standpoint

We can all agree that Ethereum is going to be a huge dump, EVEN if its the best coin ever, the price of Ether is going to drop like a stone because there is so much of it and so many people had a chance to buy. So Ether will be cheaper (probably much so) within the first 6 months (probably much less) than it was in the IPO.

What is to stop the same thing from happening to SecureNet? Yes, the CORE coins could grow in value before release, increasing the value of the SuperNet asset. But if this is really the 2nd largest IPO in history, how the heck will the asset price stay afloat the first few months or days? And what if for some reason the Core coins decrease in value (post IPO dump?) after the launch of SecureNet?

I'm just playing devils advocate here. Please feel free to delete this post.

Disagree, you will never get your hands on Ether for IPO prices.

[Cassius]

I have an economical question here about the investment - purely from a greed standpoint

We can all agree that Ethereum is going to be a huge dump, EVEN if its the best coin ever, the price of Ether is going to drop like a stone because there is so much of it and so many people had a chance to buy. So Ether will be cheaper (probably much so) within the first 6 months (probably much less) than it was in the IPO.

What is to stop the same thing from happening to SecureNet? Yes, the CORE coins could grow in value before release, increasing the value of the SuperNet asset. But if this is really the 2nd largest IPO in history, how the heck will the asset price stay afloat the first few months or days? And what if for some reason the Core coins decrease in value (post IPO dump?) after the launch of SecureNet?

I'm just playing devils advocate here. Please feel free to delete this post.

Disagree, you will never get your hands on Ether for IPO prices.

Ethereum raised $15 million (31k+ BTC). That's a lot to live up to. Not impossible, but it had better be good.
And a nice target for SuperNET.

Edit: UNITY should not crash below buy-in price as it's backed by the currencies it holds, which will be long-term HODL. People would effectively be selling for below-market rates. (Presumably there won't be a redemption mechanism to convert a UNITY share back into its component cryptos and additional assets, but I don't know how this would affect the price.)

[windjc]

I have an economical question here about the investment - purely from a greed standpoint

We can all agree that Ethereum is going to be a huge dump, EVEN if its the best coin ever, the price of Ether is going to drop like a stone because there is so much of it and so many people had a chance to buy. So Ether will be cheaper (probably much so) within the first 6 months (probably much less) than it was in the IPO.

What is to stop the same thing from happening to SecureNet? Yes, the CORE coins could grow in value before release, increasing the value of the SuperNet asset. But if this is really the 2nd largest IPO in history, how the heck will the asset price stay afloat the first few months or days? And what if for some reason the Core coins decrease in value (post IPO dump?) after the launch of SecureNet?

I'm just playing devils advocate here. Please feel free to delete this post.

Disagree, you will never get your hands on Ether for IPO prices.

HaHa. Already can. MP is selling Ether futures for 5x the IPO price. Cause he knows its goina crash.

[open82buy]

There's a steady flow of NXT and BTC flowing into Poloniex at the moment. 

proofs?

Take my word for it, it's me. 

[Momimaus]

I have an economical question here about the investment - purely from a greed standpoint

We can all agree that Ethereum is going to be a huge dump, EVEN if its the best coin ever, the price of Ether is going to drop like a stone because there is so much of it and so many people had a chance to buy. So Ether will be cheaper (probably much so) within the first 6 months (probably much less) than it was in the IPO.

What is to stop the same thing from happening to SecureNet? Yes, the CORE coins could grow in value before release, increasing the value of the SuperNet asset. But if this is really the 2nd largest IPO in history, how the heck will the asset price stay afloat the first few months or days? And what if for some reason the Core coins decrease in value (post IPO dump?) after the launch of SecureNet?

I'm just playing devils advocate here. Please feel free to delete this post.

Disagree, you will never get your hands on Ether for IPO prices.

HaHa. Already can. MP is selling Ether futures for 5x the IPO price. Cause he knows its goina crash.

Yeah and there are some guys telling everybody that Doge will overtake BTC. Who cares?

[windjc]

I have an economical question here about the investment - purely from a greed standpoint

We can all agree that Ethereum is going to be a huge dump, EVEN if its the best coin ever, the price of Ether is going to drop like a stone because there is so much of it and so many people had a chance to buy. So Ether will be cheaper (probably much so) within the first 6 months (probably much less) than it was in the IPO.

What is to stop the same thing from happening to SecureNet? Yes, the CORE coins could grow in value before release, increasing the value of the SuperNet asset. But if this is really the 2nd largest IPO in history, how the heck will the asset price stay afloat the first few months or days? And what if for some reason the Core coins decrease in value (post IPO dump?) after the launch of SecureNet?

I'm just playing devils advocate here. Please feel free to delete this post.

Disagree, you will never get your hands on Ether for IPO prices.

HaHa. Already can. MP is selling Ether futures for 5x the IPO price. Cause he knows its goina crash.

Yeah and there are some guys telling everybody that Doge will overtake BTC. Who cares?

I was simply pointing out that I can get Ether for 1/5 th the price you paid for today, redeemable 6 months after launch. So, yes I can get it IPO prices and much better.

[Momimaus]

I have an economical question here about the investment - purely from a greed standpoint

We can all agree that Ethereum is going to be a huge dump, EVEN if its the best coin ever, the price of Ether is going to drop like a stone because there is so much of it and so many people had a chance to buy. So Ether will be cheaper (probably much so) within the first 6 months (probably much less) than it was in the IPO.

What is to stop the same thing from happening to SecureNet? Yes, the CORE coins could grow in value before release, increasing the value of the SuperNet asset. But if this is really the 2nd largest IPO in history, how the heck will the asset price stay afloat the first few months or days? And what if for some reason the Core coins decrease in value (post IPO dump?) after the launch of SecureNet?

I'm just playing devils advocate here. Please feel free to delete this post.

Disagree, you will never get your hands on Ether for IPO prices.

HaHa. Already can. MP is selling Ether futures for 5x the IPO price. Cause he knows its goina crash.

Yeah and there are some guys telling everybody that Doge will overtake BTC. Who cares?

I was simply pointing out that I can get Ether for 1/5 th the price you paid for today, redeemable 6 months after launch. So, yes I can get it IPO prices and much better.

Alright, from a very trustworthy unknown out of btt, haha, go ahead. You give him money and get the shares in one year. Nice deal.

[jl777]

I will be making two assets, one will be called TOKEN with 0 decimals and it will have a price range of 0.01 to 0.0115 BTC

The price starts at 0.01 BTC and linearly goes to 0.0115 over two weeks (14 * 1440 minutes) so each minute there is a small increase in price. At each minute there will be 1000 TOKEN available in each supported currency any unsold will carry over to the next minute, with a cap of 5000 TOKEN.

For non-BTC sales, a conversion rate is calculated using a slow moving average (eg. 24 hours) so somebody would have to be pushing the price for an entire day, just to get a lower effective price for their TOKEN. Clearly not practical. The NXT and BTCD conversion rate is adjust with the 5% bonus and the TOKEN is made available just like for BTC.

In the event fiat denominated TOKEN is available, the conversion process is used like described in the previous paragraph, but without any 5% bonus.

On the 14th day to the 26th day, a test is made to see if 3% of the total has been raised that day. If not the process stops 2 days later. 28 days is the max duration.

At this point I will purchase TOKEN at the 0.0115 BTC price using the my core assets and any other InstantDEX that is made available using the coinmarketcap price - 1/2 of the 24hr change. this is an easy to calculate average of the current price and 24hrs ago. The asset prices are more stable so using a reasonable market price average and as balanced of set of assets, but not exceeding 10% of TOKEN, I get my TOKEN. All excess TOKEN will be burned at this point, though it doesnt really matter as TOKEN is only good for a 1:1 swap with SuperNET asset. I am not sure if the exchange fee is coming when the donation is made or whether I am doing it at this point by issuing some SuperNET to cover the trade commissions. In any case, it will be something like 0.2%

Now I can issue a matching number of SuperNET asset with 4 decimals and it is exchanged for the TOKEN on a 1:1 basis.
And the trading begins

James

P.S. A simplified version of the price changing could be done on NXT AE like shortNXT does, eg. if there is some big price change. At the exchange, it is just a 1:1 dividend, so it is pretty simple using NXT AE.

P.P.S. I think similar to sharkfund0, for those just allergic to any exchange, I can accommodate larger purchases with non-standard crypto on a case by case basis, but without any special bonuses and if it is non-standard crypto, I might even ask for a discount. This will get some diversification to the SuperNET portfolio, and I dont think it will be used that much, just something that is available in those rare cases.

[F22Raptor]

GOD!The IPO of JL777.I can't miss it

[windjc]

I will be making two assets, one will be called TOKEN with 0 decimals and it will have a price range of 0.01 to 0.0115 BTC

The price starts at 0.01 BTC and linearly goes to 0.0115 over two weeks (14 * 1440 minutes) so each minute there is a small increase in price. At each minute there will be 1000 TOKEN available in each supported currency any unsold will carry over to the next minute, with a cap of 5000 TOKEN.

For non-BTC sales, a conversion rate is calculated using a slow moving average (eg. 24 hours) so somebody would have to be pushing the price for an entire day, just to get a lower effective price for their TOKEN. Clearly not practical. The NXT and BTCD conversion rate is adjust with the 5% bonus and the TOKEN is made available just like for BTC.

In the event fiat denominated TOKEN is available, the conversion process is used like described in the previous paragraph, but without any 5% bonus.

On the 14th day to the 26th day, a test is made to see if 3% of the total has been raised that day. If not the process stops 2 days later. 28 days is the max duration.

At this point I will purchase TOKEN at the 0.0115 BTC price using the my core assets and any other InstantDEX that is made available using the coinmarketcap price - 1/2 of the 24hr change. this is an easy to calculate average of the current price and 24hrs ago. The asset prices are more stable so using a reasonable market price average and as balanced of set of assets, but not exceeding 10% of TOKEN, I get my TOKEN. All excess TOKEN will be burned at this point, though it doesnt really matter as TOKEN is only good for a 1:1 swap with SuperNET asset. I am not sure if the exchange fee is coming when the donation is made or whether I am doing it at this point by issuing some SuperNET to cover the trade commissions. In any case, it will be something like 0.2%

Now I can issue a matching number of SuperNET asset with 4 decimals and it is exchanged for the TOKEN on a 1:1 basis.
And the trading begins

James

P.S. A simplified version of the price changing could be done on NXT AE like shortNXT does, eg. if there is some big price change. At the exchange, it is just a 1:1 dividend, so it is pretty simple using NXT AE.

P.P.S. I think similar to sharkfund0, for those just allergic to any exchange, I can accommodate larger purchases with non-standard crypto on a case by case basis, but without any special bonuses and if it is non-standard crypto, I might even ask for a discount. This will get some diversification to the SuperNET portfolio, and I dont think it will be used that much, just something that is available in those rare cases.

When will the launched day and time be announced and how much advance notice will we be given?

[devphp]

P.S. A simplified version of the price changing could be done on NXT AE like shortNXT does, eg. if there is some big price change. At the exchange, it is just a 1:1 dividend, so it is pretty simple using NXT AE.

Hopefully that means yes for NXT AE enthusiasts in whatever form it happens there, doesn't have to be complex or involve calculation of the price to the last NXTQuant. NXT AE enthusiasts can trade a few NXTQuants for the trustless purchase mechanism.

[jl777]

P.S. A simplified version of the price changing could be done on NXT AE like shortNXT does, eg. if there is some big price change. At the exchange, it is just a 1:1 dividend, so it is pretty simple using NXT AE.

Hopefully that means yes for NXT AE enthusiasts in whatever form it happens there, doesn't have to be complex or involve calculation of the price to the last NXTQuant. NXT AE enthusiasts can trade a few NXTQuants for the trustless purchase mechanism.

yes and the 5% bonus provides the padding against market fluctuations

OK, so I think some few more details and we could be ready.

Now how much notice is needed before the start?

[devphp]

Now how much notice is needed before the start?

24 hours is more than enough, no point to delay more.

[mladen00]

P.S. A simplified version of the price changing could be done on NXT AE like shortNXT does, eg. if there is some big price change. At the exchange, it is just a 1:1 dividend, so it is pretty simple using NXT AE.

Hopefully that means yes for NXT AE enthusiasts in whatever form it happens there, doesn't have to be complex or involve calculation of the price to the last NXTQuant. NXT AE enthusiasts can trade a few NXTQuants for the trustless purchase mechanism.

yes and the 5% bonus provides the padding against market fluctuations

OK, so I think some few more details and we could be ready.

Now how much notice is needed before the start?

you have all lights of cryptoworld on you

[patmast3r]

Now how much notice is needed before the start?

24 hours is more than enough, no point to delay more.

I think there'll prob be people form different timezones participating so even if we assume everyone interested checks btt everyday I think at least 2 days are in order.