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btcney
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September 05, 2014, 05:22:34 PM |
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Is TOKEN supernet?
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r3animation
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September 05, 2014, 05:26:38 PM |
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Is it possible to buy the TOKEN using the NXT AE, or is it necessary to buy it on bter?
Ya I'll take anything 'cept doges. Gonna drive this motherf******sh*t to da MOON peoples! Now see this is the confusing thing to me as I can not see the purpose of the tokens. Why not just buy Unity shares directly?
Don't ask questions. James .... fake acct.... |
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PilotofBTC
Legendary
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Activity: 1736
Merit: 1001
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September 05, 2014, 05:30:06 PM |
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In other words when Unity is dispersed is it based on the number of NXT I have donated or is it based on the number of tokens I have?
Surely it will be based on the tokens that you have. New buyers might get more tokens than you though. Now see this is the confusing thing to me as I can not see the purpose of the tokens. Why not just buy Unity shares directly? Because there is no way to know how many unity shares to issue. So, you will buy the TOKENs and then after the IPO is closed, james will issue the UNITY assets with the exact number of tokens, divisible to 4 decimals and send them 1:1 to TOKEN holders and also to BTER so they can do the same. |
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coininvestor
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September 05, 2014, 05:30:17 PM |
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In other words when Unity is dispersed is it based on the number of NXT I have donated or is it based on the number of tokens I have?
Surely it will be based on the tokens that you have. New buyers might get more tokens than you though. Now see this is the confusing thing to me as I can not see the purpose of the tokens. Why not just buy Unity shares directly? As I understand it the purpose of the token is because James doesn't want to cap the donations. I get that. My issue is that not all tokens will be sold for the same price given that they will be sold in different currencies which are freely floating against each other. So if there was a way to account for the actual number of coins donated from each user and split the total Unity shares based on actual contributions rather than number of tokens then that would be better. One coin one vote sort of thing. |
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PilotofBTC
Legendary
Offline
Activity: 1736
Merit: 1001
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September 05, 2014, 05:30:41 PM |
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Is it possible to buy the TOKEN using the NXT AE, or is it necessary to buy it on bter?
Yes, make sure you get the correct asset ID... there is a fake one out there. |
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coininvestor
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September 05, 2014, 05:39:11 PM |
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Is it possible to buy the TOKEN using the NXT AE, or is it necessary to buy it on bter?
Yes, make sure you get the correct asset ID... there is a fake one out there. Go to the top of page 32 in this thread  |
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Shurugwi
Member
Offline
Activity: 117
Merit: 10
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September 05, 2014, 05:42:38 PM |
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Is it possible to buy the TOKEN using the NXT AE, or is it necessary to buy it on bter?
Ya I'll take anything 'cept doges. Gonna drive this motherf******sh*t to da MOON peoples! Now see this is the confusing thing to me as I can not see the purpose of the tokens. Why not just buy Unity shares directly?
Don't ask questions. James .... fake acct.... Mods took care of that imposter very quickly. Good job guys! |
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open82buy
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September 05, 2014, 05:43:37 PM |
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Watch out for newbie imposters  |
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coininvestor
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September 05, 2014, 05:54:54 PM |
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Is it possible to buy the TOKEN using the NXT AE, or is it necessary to buy it on bter?
Ya I'll take anything 'cept doges. Gonna drive this motherf******sh*t to da MOON peoples! Now see this is the confusing thing to me as I can not see the purpose of the tokens. Why not just buy Unity shares directly?
Don't ask questions. James .... fake acct.... I'm just going to "donate" on day one and let the chips fall where they might. |
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r3animation
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September 05, 2014, 05:57:45 PM |
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Is it possible to buy the TOKEN using the NXT AE, or is it necessary to buy it on bter?
Ya I'll take anything 'cept doges. Gonna drive this motherf******sh*t to da MOON peoples! Now see this is the confusing thing to me as I can not see the purpose of the tokens. Why not just buy Unity shares directly?
Don't ask questions. James .... fake acct.... I'm just going to "donate" on day one and let the chips fall where they might. You lost me here.... |
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ShroomsKit_Disgrace
Legendary
Offline
Activity: 952
Merit: 1000
Yeah! I hate ShroomsKit!
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September 05, 2014, 05:58:46 PM |
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Is the imposter banned? Thanks BTT-mods  |
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ralexvalex
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September 05, 2014, 06:05:12 PM |
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I see sell orders on bter TOKEN/BTCD
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bilt10
Newbie
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Activity: 23
Merit: 0
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September 05, 2014, 06:08:02 PM |
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It is really confusing  Can't I just buy from the NXT AE? Or is it mandatory to get tokens from BTER? There are no sell orders on NXT AE atm? |
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coininvestor
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September 05, 2014, 06:09:26 PM |
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It is really confusing Can't I just buy from the NXT AE? Or is it mandatory to get tokens from BTER? There are no sell orders on NXT AE atm? Dude, read the thread. It doesn't open until tomorrow. |
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coininvestor
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September 05, 2014, 06:22:37 PM |
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Is it possible to buy the TOKEN using the NXT AE, or is it necessary to buy it on bter?
Ya I'll take anything 'cept doges. Gonna drive this motherf******sh*t to da MOON peoples! Now see this is the confusing thing to me as I can not see the purpose of the tokens. Why not just buy Unity shares directly?
Don't ask questions. James .... fake acct.... I'm just going to "donate" on day one and let the chips fall where they might. You lost me here.... I think I lost me too. |
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PPan
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September 05, 2014, 06:53:20 PM |
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Is it possible to buy the TOKEN using the NXT AE, or is it necessary to buy it on bter?
Yes, make sure you get the correct asset ID... there is a fake one out there. Go to the top of page 32 in this thread Thank you, it was a little bit confusing ... |
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jl777 (OP)
Legendary
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Activity: 1176
Merit: 1134
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September 05, 2014, 07:23:31 PM |
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So every holder of UNITY will get a share of the fees. How often will those share be payed out ? Monthly ? Annualy ?
Such details are not decided yet. I think the most efficient would be to make it on demand. There is a small cost to sending of the dividends and some people want to collect it as soon as possible, others might want to wait to reduce the percentage spent on transfer fees. So, I am envisioning that there will be and account balance for the revenue sharing and the user would click a button and confirm they want to collect their revenue share. Of course, this would require some volunteer to implement this and since it is a GUI thing I wont be doing it. I dont imagine we will have much of a problem finding a volunteer to code this though, it should be quite simple. I will make the API to do this. Until we get on-demand revenue share payments done, it would be on some regular basis, monthly or quarterly, using the NXT dividend mechanism. This is already in place and has been working for a while. valarmg has done an excellent service for all the NXT asset holders James |
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jl777 (OP)
Legendary
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Activity: 1176
Merit: 1134
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September 05, 2014, 07:26:08 PM |
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So his point is, to eliminate legal issues under US law, it must be a crowd sale of tokens redeemable for consumable products or not redeemable for anything as a donation as a safest bet. This makes them different from tokens that offer financial returns, which would be considered securities/equity and which would be highly regulated. It's all about wording token for a product or service is ok what if the product or service is to make money? |
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jl777 (OP)
Legendary
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Activity: 1176
Merit: 1134
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September 05, 2014, 07:27:10 PM |
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it seems I will be featured in a beyond bitcoin podcast this weekend
 Have you had the interview? What is the outline of the discussion: SN, BTCD and NXT I presume? I think you must listen to the show. |
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jl777 (OP)
Legendary
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Activity: 1176
Merit: 1134
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September 05, 2014, 07:29:10 PM |
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just quick (maybe silly) question, there will be max cap of SuperNET for ICO? or it will be decided other way, dynamically?
it is dynamically adapted, but there is the max TOKEN of 1000 per minute, so there is no way this will be exceeded I did issue 60102216 TOKEN assets, so that is the theoretical limit, this number also is not possible to be achieved |
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