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

[BadAss.Sx]

So whats better to do...buying from Bter with btc or buying from NXT AE with NXT? Apparantly you get the best price from Bter, you said, but how does Bter make sure the tokens stay 0.01btc on day one? The demo looks like a trading platform, so it is possible people are bidding higher?

[Cassius]

BTER acted very well in the last two hacks.
Are you saying exclusive rights to them (see PM about CCEDK)?

[jl777]

Maybe this question has been addressed already but I am still a little confused.   Since this asset is being sold in BTC, NXT and BTCD and people who use NXT and BTCD get %5 discount as it were, how are exchange rates determined?  Or more simply how much is one token priced in NXT or BTCD?  Because right now both NXT and BTCD seem to be rising a little vs BTC. 

The exchange rate is calculated through the 24 hours moving average ... so no real time exchange rate.

So is it possible to get more bang for the buck depending on timing and currency used or is total amount donated tallied up at the end and equal unity dispersed regardless of the exchange rate at the time of the donation?  For example, if I were to get tokens on day one with NXT but on day 2 NXT rises 20%, then I have lost 20%? or are the total number of NXT I have donated equal value regardless of when I purchased the token?  That's my question.

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?

how much you paid for the TOKEN is not relevant in allocating the SuperNET
1 TOKEN -> 1 SuperNET

Please do not ask me what is the best way to pay for the TOKEN. I priced things so that it is balanced and not easy or possible to know which is better without being able to predict the unpredictable

[jl777]

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?  

I set this up to help poloniex, not that it seemed to matter in the end

also I have no idea how many SuperNET to issue and so I would have to overissue and then burn any excess. burning SuperNET is just hard for me to even think about doing, it seems so wrong!

[PilotofBTC]

So whats better to do...buying from Bter with btc or buying from NXT AE with NXT? Apparantly you get the best price from Bter, you said, but how does Bter make sure the tokens stay 0.01btc on day one? The demo looks like a trading platform, so it is possible people are bidding higher?

I am also curious if the 15% bonus for NXT/BTCD reflected by the lower price on the exchange? Or, will you get 15% more of UNITY than the Tokens you are purchased?

[jl777]

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.  

at what point in time are the exchange rates calculated
what method are the exchange rates calculated

I was not smart enough to figure out these answers, so it is what it is and at this point too late to change
I was open about specific, all you had to do was post before it was done

[jl777]

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!

BTT mods are helping. This is fantastic.

[btcney]

So what's the deal with TOKEN and UNITY?
I didn't really get that

[jl777]

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?

http://www.nxtcommunity.org/ this clock might be off by an hour, please complain to them

I will follow that clock regardless if it is right or not and then I will put sell orders on the AE

the bter page is live so people can see how slowly the price is moving. It is very slow increasing, so there is not need for panic buy

James

[jl777]

If it were me and I knew what coin was going to be added to Supernet before an official announcement then I would use my private funds to take a nice position in that coin  maybe even months before Supernet funds were allocated to that coin.  In other words insider trading.  So my question is how do I get on the inside.    Maybe this should be a private message I don't know.

there is a newsletter on thesupernet.org
if you sign up to it, maybe you will get some advance notice about some things
since this is open for everyone, I think we can all agree it is not any insider info

[threecats]

If it were me and I knew what coin was going to be added to Supernet before an official announcement then I would use my private funds to take a nice position in that coin  maybe even months before Supernet funds were allocated to that coin.  In other words insider trading.  So my question is how do I get on the inside.    Maybe this should be a private message I don't know.

there is a newsletter on thesupernet.org
if you sign up to it, maybe you will get some advance notice about some things
since this is open for everyone, I think we can all agree it is not any insider info

signed up 12 hours ago, have not gotten anything, has one been sent?

[coininvestor]

Will do..

[stormia]

I am a bit confused. I see 5000 tokens on sale on bter for slightly over .01? But it looks like the countdown is not over for another 16 hours? http://www.nxtcommunity.org/

[jl777]

These assets where there since a few days. It should be noted in the first post that they are scam assets.
This will probably fool a few more people, This is not ok!

you cant blame anyone here except yourself. sorry to hear that you kinda scammed yourself, but you cannot expect james to do a 24/7 research and make a list of the fake assets. stick to the official announcement. anything else is just negligence.

I realize that the NXT AE is new for many.
I propose to make a "grandfather clause" for people who purchased any scam assets before this post.
To honor their purchase with real TOKEN, but only for purchases already made.

Unless there is some big objection to the dilution this makes, the entire SuperNET will be taking care of the people who were not aware. If there are objections, then I will personally give these people my own TOKEN to makegood.

noashh, plz make a complete list of the scam tx and if you are victim of this, please contact noashh

James

Scam asset issuer could have bought scam assets from himself with other accounts to make it look legit, like scammers did in the past. He'd get assets for free (minus NXT transaction fees) when there is a makegood, or am I wrong?

i rely on you to prevent such things.
One very good thing about USA is the "innocent until proven guilty" philosophy, better 100 guilty go free to prevent a single innocent from being punished.
So, if in doubt, assume they are not a scammer. I suggest to getting PM's and emails and some such if the amounts are big. scammers wont be so forthcoming, while innocents will not have a problem

[jl777]

These assets where there since a few days. It should be noted in the first post that they are scam assets.
This will probably fool a few more people, This is not ok!

you cant blame anyone here except yourself. sorry to hear that you kinda scammed yourself, but you cannot expect james to do a 24/7 research and make a list of the fake assets. stick to the official announcement. anything else is just negligence.

I realize that the NXT AE is new for many.
I propose to make a "grandfather clause" for people who purchased any scam assets before this post.
To honor their purchase with real TOKEN, but only for purchases already made.

Unless there is some big objection to the dilution this makes, the entire SuperNET will be taking care of the people who were not aware. If there are objections, then I will personally give these people my own TOKEN to makegood.

noashh, plz make a complete list of the scam tx and if you are victim of this, please contact noashh

James

Scam asset issuer could have bought scam assets from himself with other accounts to make it look legit, like scammers did in the past. He'd get assets for free (minus NXT transaction fees) when there is a makegood, or am I wrong?

I agree. We should not be compensating people that acted stupidly....

There might be a rush from the scammers to buy their own assets....Dont set this precident.

I have already set this precedent
I did not make any big red letter warnings and for people to know about this they would need to know details of NXT assets. Even if they know about other assets, maybe they still could make this mistake

Let us remember our compassion.

James

P.S. Now that I have made the red letter warnings, unless the scammers they are also using the time displacement field, then they cannot benefit.

[jl777]

These assets where there since a few days. It should be noted in the first post that they are scam assets.
This will probably fool a few more people, This is not ok!

you cant blame anyone here except yourself. sorry to hear that you kinda scammed yourself, but you cannot expect james to do a 24/7 research and make a list of the fake assets. stick to the official announcement. anything else is just negligence.

I realize that the NXT AE is new for many.
I propose to make a "grandfather clause" for people who purchased any scam assets before this post.
To honor their purchase with real TOKEN, but only for purchases already made.

Unless there is some big objection to the dilution this makes, the entire SuperNET will be taking care of the people who were not aware. If there are objections, then I will personally give these people my own TOKEN to makegood.

noashh, plz make a complete list of the scam tx and if you are victim of this, please contact noashh

James

Scam asset issuer could have bought scam assets from himself with other accounts to make it look legit, like scammers did in the past. He'd get assets for free (minus NXT transaction fees) when there is a makegood, or am I wrong?

I agree. We should not be compensating people that acted stupidly....

There might be a rush from the scammers to buy their own assets....Dont set this precident.

I feel bad for those who got scammed. I really do. But we should not compensate for their rashness.

They just needed to read the first 3 lines on the first post on this thread.

some scams they occured before I updated OP, I dont know exact time, so the official end of grandfather would be when I posted that

[jl777]

Why on all fucking earth would you go with BTER!? Since they are so well regarded in the NXT community... 

They have practiced similar scenarios before and they are Chinese; less inclined to legal limits Polo is experiencing right now.

I can believe that a Chinese company has fewer legal limits than an American Company.  LOL

Unfortunately, the USA protecting their citizens from all possible dangers is making for a very dependent citizenry
by 2040, well, it is still not certain, so let us remain optimistic!

The registration of securities has been a requirement in the US since 1933 and I really don't see it as a bad thing. Is a government protecting their citizens such a bad thing? Sure, they can go overboard, but I don't think this item does. All registration does is ensure the investors have adequate verifiable information about what they are investing in. This is probably no more than most investors would want anyway.

http://www.sec.gov/answers/regis33.htm

Also, private offerings are perfectly legal as long as the investors are qualified and most states allow a certain number of unqualified investors for a private placement.

I'm surprised also that Polo trades JHL which can probably be considered a security as well. Although I think JHL could be considered a crypto asset, or coin just as easily as a security. There is a very fine line.

you convinced me, I will be offline for a few hours as I am applying for a USA visa, I cant wait to meet all the lawyers

[jl777]

So whats better to do...buying from Bter with btc or buying from NXT AE with NXT? Apparantly you get the best price from Bter, you said, but how does Bter make sure the tokens stay 0.01btc on day one? The demo looks like a trading platform, so it is possible people are bidding higher?

the higher bids do not change the offered price, this sell price is gradually increasing
of course if some large bids are there eating all the sell price, well then the volume adjustment kicks in to make more TOKEN available
it is just a demo so people are familiar with this method of "jl777 offering"

I have a feeling maybe other offerings will use this method in the future

[jl777]

BTER acted very well in the last two hacks.
Are you saying exclusive rights to them (see PM about CCEDK)?

Bter is most gracious and embracing of UNITY
They are open to and inviting of all other exchanges that are operating free of "protection for its citizens" regimes

All they have to do is have a decision maker for the exchange to PM me

James

[jl777]

So whats better to do...buying from Bter with btc or buying from NXT AE with NXT? Apparantly you get the best price from Bter, you said, but how does Bter make sure the tokens stay 0.01btc on day one? The demo looks like a trading platform, so it is possible people are bidding higher?

I am also curious if the 15% bonus for NXT/BTCD reflected by the lower price on the exchange? Or, will you get 15% more of UNITY than the Tokens you are purchased?

all bonuses are reflected in the price
if you are noticing any lack of bonus in the price, this is a bug and needs to be fixed
the exchange rate is the previous 24 hours moving average of the coinmarketcap price
so all exchanges would need to be manipulated for 24 hours to game this
much cheaper to just get the TOKEN

1 TOKEN becomes 1 UNITY
the cost is whatever you are seeing in the sell price