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

[jl777]

wow 10k BTC that is alot of money. i ain't seeing my money double quick so i am out good luck.

It's about $5 million. I think we've approached peak-James, and I'm afraid of heights especially in light of this:

After careful deliberation, we have decided to not participate in the SuperNet ICO. I understand that a large community is excited about SuperNet, and since we were initially announced as the ICO host, I wanted to take a moment to explain how we came to arrive at this decision.
 
For the past couple of days, we’ve been in discussions with our attorneys about hosting the SuperNet ICO. As several community members pointed out in this very thread, the sale of SuperNet tokens could be interpreted as the sale of unregistered securities. Our attorneys came to the same conclusion and have since advised us against taking part in the SuperNet ICO for this reason.
 
Further, one of our ICO requirements is identity verification (https://www.poloniex.com/icoRequirements); this requirement exists to protect investors and to lend credibility to the ICO. Despite several attempts to convince James the importance of revealing his identity, we were ultimately unable to reach an agreement that satisfied both parties.
 
We needed time for due diligence, to carefully assess the legal implications of taking part in SuperNet, and also the time to set up our backend systems to support it. James was very eager to get this going, however, so he chose to go with another host before we could communicate to him our findings and final decision.
 
We have since communicated with James, and we wish him the best of luck.

if you are not comfortable in any way at all, please do not invest. If you are believing in the cause a donation up to 1 BTC would be appreciated.

I have posted my response about applying fiat rules in crypto. If you are wanting fiat rules, then there are plenty of fiat investments backed by the full power of the fiat legal system and this guarantees that all fiat investors are protected and nothing will ever go wrong.

In crypto, everything is a risk and the ones who make the right choices make disproportionate returns.
This will not always be the case, but it is for now

James

It goes without saying that great reward requires great risk. It also goes without saying that the greater the attention/hype over an ICO/IPO, the less undervalued and the less of an ROI there's likely to be for an investor.

I respect what you've accomplished to this point, James, and wish you the best, as failure of this magnitude would be pretty damaging to an already badly damaged cryptoworld.

But beware: Pride goeth before destruction, and an haughty spirit before a fall.

please try to understand SuperNET is not backed by "air" but by BTC in escrow
I do not need you to invest, but please try to be accurate in your risk assessment.
The risk is that the escrowed funds held by coinbase, Xapo, bter, community trustees multisig accts have something unexpected happen.  The reward is that any part of the good outcomes I am writing about comes true.

James

[jl777]

Why does the presale price on Bter keep edging up?

15% early bird bonus declining to 0% over 2 weeks. After that it wont change

But why is declining now, before the sale begins? The price has been edging up already.

the BTC price would only go up
the BTCD or NXT price could go down if the prices for them go up faster than the decay of the early bird bonus. The price is the moving average of the last 24 hours, so if you are having this data and do some probabilistic moving average predictions (this is possible because we know all the past data points and you can just use a stochastic model for near future price points and use this to replace the oldest values and thus make a reasonably accurate near term projection of the moving average) and optimize the purchase.

Then again maybe it is too much trouble to do unless you already have such signal processing algos implemented

James

[jl777]

Why does the presale price on Bter keep edging up?

the price is going down to me on token/nxt because nxt has gone up?

yes, NXT moved up sharply last 24 hrs

[jl777]

I know there is TOKEN/BTC & TOKEN/NXT but where is the TOKEN/BTCD?

https://bter.com/trade/token_btcd
https://bter.com/trade/token_cny
https://bter.com/trade/token_nxt
https://bter.com/trade/token_btc

[windjc]

Why does the presale price on Bter keep edging up?

15% early bird bonus declining to 0% over 2 weeks. After that it wont change

But why is declining now, before the sale begins? The price has been edging up already.

the BTC price would only go up
the BTCD or NXT price could go down if the prices for them go up faster than the decay of the early bird bonus. The price is the moving average of the last 24 hours, so if you are having this data and do some probabilistic moving average predictions (this is possible because we know all the past data points and you can just use a stochastic model for near future price points and use this to replace the oldest values and thus make a reasonably accurate near term projection of the moving average) and optimize the purchase.

Then again maybe it is too much trouble to do unless you already have such signal processing algos implemented

James

But why is the btc price moving before the sale even begins?? Isn't the btc price a static price adjustable once the sale begins? But why have a btc price that moves now? The price is set to a fixed btc price that moves every minute, after the sale begins? Yes?

Or, rather, is it pegged to NXT?

[PondSea]

I know there is TOKEN/BTC & TOKEN/NXT but where is the TOKEN/BTCD?

https://bter.com/trade/token_btcd
https://bter.com/trade/token_cny
https://bter.com/trade/token_nxt
https://bter.com/trade/token_btc

Thanks James. Im guessing the rates that are displayed for nxt and btcd includes the 5% bonus?

[jl777]

Why does the presale price on Bter keep edging up?

15% early bird bonus declining to 0% over 2 weeks. After that it wont change

But why is declining now, before the sale begins? The price has been edging up already.

the BTC price would only go up
the BTCD or NXT price could go down if the prices for them go up faster than the decay of the early bird bonus. The price is the moving average of the last 24 hours, so if you are having this data and do some probabilistic moving average predictions (this is possible because we know all the past data points and you can just use a stochastic model for near future price points and use this to replace the oldest values and thus make a reasonably accurate near term projection of the moving average) and optimize the purchase.

Then again maybe it is too much trouble to do unless you already have such signal processing algos implemented

James

But why is the btc price moving before the sale even begins?? Isn't the btc price a static price adjustable once the sale begins? But why have a btc price that moves now? The price is set to a fixed btc price that moves every minute, after the sale begins? Yes?

Or, rather, is it pegged to NXT?

it is running as a demo with the start time simulated to be yesterday

[jl777]

I know there is TOKEN/BTC & TOKEN/NXT but where is the TOKEN/BTCD?

https://bter.com/trade/token_btcd
https://bter.com/trade/token_cny
https://bter.com/trade/token_nxt
https://bter.com/trade/token_btc

Thanks James. Im guessing the rates that are displayed for nxt and btcd includes the 5% bonus?

it should be
if not there is a bug
but I dont hear screaming

[windjc]

yes, NXT moved up sharply last 24 hrs

This^^^ will be very bad for SuperNET (at least short-term). 

I already knew that NXT holders (especially the initial stakeholders) SUCK at trading but this is borderline pathetic...  they always seem to do the opposite of what would be in Nxt's interest...  just saying...   

Yeah, sooooo bad for NXT. So terrible to have the price go up towards reasonable evaluation prices.

Smh. Lol

[jl777]

yes, NXT moved up sharply last 24 hrs

This^^^ will be very bad for SuperNET (at least short-term). 

I already knew that NXT holders (especially the initial stakeholders) SUCK at trading but this is borderline pathetic...  they always seem to do the opposite of what would be in Nxt's interest...  just saying...   

do not worry, things are intentionally made to be hard to predict and all choices are valid.
people will soon realize to just do whatever is most convenient for them

[PondSea]

I know there is TOKEN/BTC & TOKEN/NXT but where is the TOKEN/BTCD?

https://bter.com/trade/token_btcd
https://bter.com/trade/token_cny
https://bter.com/trade/token_nxt
https://bter.com/trade/token_btc

Thanks James. Im guessing the rates that are displayed for nxt and btcd includes the 5% bonus?

it should be
if not there is a bug
but I dont hear screaming

We dont have the "base" price of nxt or btcd that bter is using so there is no way to know if we get 5% or not?

[windjc]

Yeah, sooooo bad for NXT. So terrible to have the price go up towards reasonable evaluation prices.

Smh. Lol

It's NOT my fault you can't comprehend what I am alluding to...  

I get at what your saying and why, but btcd price has gone up much more than Nxts. Your not mentioning that why?

[jl777]

I know there is TOKEN/BTC & TOKEN/NXT but where is the TOKEN/BTCD?

https://bter.com/trade/token_btcd
https://bter.com/trade/token_cny
https://bter.com/trade/token_nxt
https://bter.com/trade/token_btc

Thanks James. Im guessing the rates that are displayed for nxt and btcd includes the 5% bonus?

it should be
if not there is a bug
but I dont hear screaming

We dont have the "base" price of nxt or btcd that bter is using so there is no way to know if we get 5% or not?

someone with ability to get 24hr moving average can confirm. when the price was stable it did work out to .0095

[windjc]

I get at what your saying and why, but btce price has gone up much more than Nxts. Your not mentioning that why?

btce   

Nice. Reversing my immediate edit. Good job on that.

[bitcoinwonders010]

i am a bit confused how much is james hoping to raise someone said 10k btc but i only see 51btc on bter

[jl777]

VRC

Not sure exactly when but weeks ago, way before SuperNET came to me I was approached by a VRC investor to help them. After some discussions, I agreed to help under certain conditions. Keep in mind this was myself personally and the commitment was for my personal time next year after the current projects are done, other than advices that I am prone to give.

Some people might conclude that VRC will go into the SuperNET core, but this is a different arrangement and there is no determination yet. With the creation of SuperNET, the old deal structure was not really compatible, and I am not pushing for this old option based structure. In fact, the problems that this structure created due to my lack of BTC for the SuperNET model is what contributed to the way I have structured the SuperNET coin model. So, when people are jumping up and down at how the VRC option thing is this or that, please keep in mind it predates SuperNET and I am honoring my commitment I made.

Above all else, I value my honor and when I make a commitment, I will do whatever it takes to fulfill that commitment. So, do not worry about dilution of my time, any significant dev work I might do for VRC would only be after the current projects are done. In any case there are a lot of things that VRC can do with just my advices and some crazy ideas. Also, the option model for VRC is not something that I think is really that good, it was just the best I could do with the resources I had. Also, the requiring of me to do some unique tech is definitely not something I can do any more of.

The VRC community is lukewarm on the deal anyway, so if they are declining, then this misstructuring mistake I made will just be a footnote in the what could have happened category.

Here is the relevant post: https://bitcointalk.org/index.php?topic=602041.msg8695894#msg8695894

Oh, for the record, I have no other deals with any other coins and plz remember this was done weeks before SuperNET and its issues helped create the current SuperNET structure.

Thanks for understanding

James

P.S. tl:dr I made commitment to VRC to help them under some conditions using option model, which I dont like anymore, especially the part where I have to do dev work.

[jl777]

i am a bit confused how much is james hoping to raise someone said 10k btc but i only see 51btc on bter

demo mode

[threecats]

Bit confused on the start time for the ico. How many hours & minutes  from now, to avoid all this gmt stuff?

[jl777]

Bit confused on the start time for the ico. How many hours & minutes  from now, to avoid all this gmt stuff?

right or wrong I follow http://www.nxtcommunity.org/

[bitcoinwonders010]

wow 10k BTC that is alot of money. i ain't seeing my money double quick so i am out good luck.

It's about $5 million. I think we've approached peak-James, and I'm afraid of heights especially in light of this:

After careful deliberation, we have decided to not participate in the SuperNet ICO. I understand that a large community is excited about SuperNet, and since we were initially announced as the ICO host, I wanted to take a moment to explain how we came to arrive at this decision.
 
For the past couple of days, we’ve been in discussions with our attorneys about hosting the SuperNet ICO. As several community members pointed out in this very thread, the sale of SuperNet tokens could be interpreted as the sale of unregistered securities. Our attorneys came to the same conclusion and have since advised us against taking part in the SuperNet ICO for this reason.
 
Further, one of our ICO requirements is identity verification (https://www.poloniex.com/icoRequirements); this requirement exists to protect investors and to lend credibility to the ICO. Despite several attempts to convince James the importance of revealing his identity, we were ultimately unable to reach an agreement that satisfied both parties.
 
We needed time for due diligence, to carefully assess the legal implications of taking part in SuperNet, and also the time to set up our backend systems to support it. James was very eager to get this going, however, so he chose to go with another host before we could communicate to him our findings and final decision.
 
We have since communicated with James, and we wish him the best of luck.

if you are not comfortable in any way at all, please do not invest. If you are believing in the cause a donation up to 1 BTC would be appreciated.

I have posted my response about applying fiat rules in crypto. If you are wanting fiat rules, then there are plenty of fiat investments backed by the full power of the fiat legal system and this guarantees that all fiat investors are protected and nothing will ever go wrong.

In crypto, everything is a risk and the ones who make the right choices make disproportionate returns.
This will not always be the case, but it is for now

James

It goes without saying that great reward requires great risk. It also goes without saying that the greater the attention/hype over an ICO/IPO, the less undervalued and the less of an ROI there's likely to be for an investor.

I respect what you've accomplished to this point, James, and wish you the best, as failure of this magnitude would be pretty damaging to an already badly damaged cryptoworld.

But beware: Pride goeth before destruction, and an haughty spirit before a fall.

sdersfd2 just noticed the poloniex comment

i thought james was verified, well i for one will be a spectator and hope to see this prosper but not gonna invest if dev is not willing to reveal his identity. great accomplishment on btcd but given latest ipo scams staying away if no identity is revealed