windjc
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September 07, 2014, 06:28:12 PM |
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Im only getting last 24 hours there. |
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Parano
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September 07, 2014, 06:31:59 PM |
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criptix
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September 07, 2014, 06:33:39 PM |
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vrc is one of the core candidates. there will be a tech evaluation coming to see it vrc deserves the spot in the core  |
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Parano
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September 07, 2014, 06:41:44 PM |
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vrc is one of the core candidates. there will be a tech evaluation coming to see it vrc deserves the spot in the core That's why is going up in price right now |
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jl777 (OP)
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September 07, 2014, 06:43:38 PM |
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...failures to implicate jl777 in any wrong doing...
... I am the anti-lawyer James Wow. That was pretty good. People are really trying to take you down. No one has even come close. After reading this thread and watching the way you've handled this whole situation I can see why the NXT community is willing to trust you with millions of dollars. thanks. I do like the sound of anti-lawyer The low level grunt trolls get vaporized and the mid level sr member paid trolls get their reputations destroyed the psycho trolls make my hallofshame spot in the OP and a blog mention so now they are hiring paid pros, probably not so crypto, maybe from some law or acct firm to look and sound convincing. In our corner we are getting respected devs and tech legends expressing support. I am liking our odds. Since most of the opponents are probably taking the weekend off and wont really find out about this till Monday. some sort of quick planning session they will have and we will see some flood of nonsense to buy time while they really try to find some way to attack SuperNET. Since SuperNET is, well, SuperNET with my estimated worst case risk of -20% and upside of ?, I will lose access to 9 times more BTC than I get access to, the 99% is in escrow to be managed by common sense rules based on the data set of the PDF file + the posts in this thread at the moment of first deposit, and assetholder voting from here. The biz plan itself combining advantaged investments, supertraders, NXTventure on the finance side and the core assets + all the new services, to me it seems a bit sparse as far as capital usage goes with 80%+ BTC dormant, but this serves to reduce the risk, so I think this is needed until we start generating the cashflow. When we start getting the penny per day per user, then it would be time to better utilize the capital. After all if using 20% the capital will double in a year, that is 20% return, but if we can find ways to utilize 80% at the same ROI, this of course is 80% return. once people realize SuperNET will accept the best money making ideas of the community, I expect there will be plenty of short term quickturn ways of getting good margin. It takes money to make money and SuperNET will have an excess supply. In any case all this is post closing of the fund raising and will be decided by the assetholders. Still I need to strategize what sorts of areas are highest probability for success. Anyway, I think it will be hard for them to attack a adaptive business model decided by the assetholders and implemented mostly by volunteers. So, maybe they will be attacking the tech? I hope they do a code analysis, then they can find any flaws and point them out. If there are any. But, the investment is at book value valuing all the software and future revenue streams at zero. So, this will probably not be so effective of an attack. personally I think the future revenue flow will quickly become more valuable than whatever capital comes in, but this is my gift to the SuperNET assetholders. So, they will attack me. What else do they have? I am anonymous, I must be evil. I think that is pretty much all they have, but I have always said this and the people investing are knowing this and real world id is overrated anyway. Maybe their attack strategy meeting will take all day Monday. Aha! I know they will wait for me to signoff and then start a FUD storm, this is probably their best strategy. So I might have to activate my clone to get 24 hr coverage. James |
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jl777 (OP)
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September 07, 2014, 06:44:14 PM |
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Im only getting last 24 hours there. selector box |
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jl777 (OP)
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September 07, 2014, 06:47:40 PM |
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Parano is it true that you didnt read the three pages following that link? |
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Parano
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September 07, 2014, 06:55:44 PM |
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Parano is it true that you didnt read the three pages following that link? yes James I did read and all talking about it, but you know how many trolls are around you don't know sometimes what to believe so I just wanted confirmation, that's all, I know you need to use common sense, but some troils are extremely clever, as you said tomorrow lots of trolls will attack you tomorrow, so will be full of lies so do I need to read pages of lies to know is true or no, I need to confirm with the main developer, I hope I make sense if not I apologies |
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Cassius
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September 07, 2014, 07:11:55 PM |
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BBR and the sharkfund0 -- "Boolberry’s market cap stands at around $400,000 and a 10 percent share – already obtained by sharkfund0, most of which will be going into the SuperNET core – would cost only 80 BTC." -- from your pdf. Now how can one read this, tell me? Two ways: 1. You are investing coins from sharkfund0 into supernet, market rate or not, doesn't matter. Effectively propping Supernet with watever btc (4k BTC, was it?) sharkfund0 has. A market news of Supernet raising say 7k BTC (doesn't matter if it contains 4k BTC from sharkfund0, is a market moving news, isnt?) 2. You are investing a percentage of the sharkfund0 into supernet (keeping in with the risk mitigation and all). Say 40% of sharkfund0 --- that wud amount to only effective 4% of BBR being invested. Wouldn't it? Now as you clarified (or provided proof  ) that you will be investing your personal sharkfund0. Fair enough. How much do you hold? And how much of BBR wud it represent? Not 10% for sure. The text you quote is from an older version, cassius wrote the document and I missed the potential confusion, so as soon as somebody else pointed this out we modified it. If this text is still in the current version then I must have made a mistake in the uploading. I was having many connection problems that day (and most days). So I apologize for this error, I believe it has been corrected and you have an older doc. as far as my percentage of sharkfund, you can just look in the acct: http://nxtreporting.com/?a=NXT-SQ9J-JCAN-8XVY-5XN7K&c=USDI have 521 sharkfund0 right now. I used to have 800+, but in order to pay for core assets held by the various operating assets, I had to swap a all my NXTventure, JLH and a big chunk of my sharkfund. I did most transfers within a few minutes, but there was one that had some hours gap. I forget the exact swap, but half was pending for some few hours. Now I am rounding, so when I see 6989495 or something like that I round it to 7 mil. It could be that for some marketrate swaps I am guilty of some fractional gains due to this rounding. If this is an issue, please specify which swaps I am guilty of having benefited from and I will refund the difference. Though, it would only seem fair that in the cases the rounding error went against me, I should get a credit, so I ask that you calculate all these roundings and the net difference between myself and the various assets, and this I will refund. Let me know if you think that is fair. My ears are burning trythisnow: this misunderstanding (let's be charitable and call it that, shall we?) is possibly due to my own misunderstanding. This was a point we corrected once already because I made a mistake. If this hasn't been resolved to the extent you require, please let me know the form of words that you would like to see at that point in the document. It is possible that I continue to misunderstand the point in question and your clarification would be helpful - if you are genuinely interested in helping to clarify this. No need to answer if not. |
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salsacz
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September 07, 2014, 07:20:49 PM |
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threecats
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September 07, 2014, 07:38:08 PM |
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I don't even dare think what would be going on right about now if James had chosen jl 666 for his online handle... lol haha good one : -) |
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jl777 (OP)
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September 07, 2014, 07:54:39 PM |
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I don't even dare think what would be going on right about now if James had chosen jl 666 for his online handle... lol that's my brother's handle |
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jl777 (OP)
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September 07, 2014, 07:55:16 PM |
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fantastic summary! thanks, this will help explain the big picture to people |
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trythisnow
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September 07, 2014, 08:05:47 PM |
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The account that issues an asset is simply the account that issues the asset. Sometimes I issue an asset from the operation asset's account. For example, the SuperNET acct NXT-MRBN-8DFH-PFMK-A4DBM is the one that issued the TOKEN asset 15641806960898178066. I issued the jl777hodl asset from my jl777 account because it made sense to me to do so. There is no requirement for this, for some strange reason I felt that issuing the jl777hodl asset from the jl777 account was a reasonable thing to do. What about this is unreasonable to you and makes you write in a accusatory tone. All you have to do is ask me about this, without couching it in terms to make me look like I am doing something unethical. Now, since the JLH (jl777hodl abbreviated) is going to be holding assets I certainly dont want to be commingling anything into it, so I created an acct just for this purpose and this is described in the asset description. this acct is NXT-2AHU-UXZW-K9Q2-HENLW.
So it seems that you started with the conclusion that I am a crook and are searching for "facts" that fit this theory. This is bad scientific method. The proper way is to form the theory that jl777 is a crook and then gather data to see if it confirms or denies this fact. So far all we have is confirmation that you mistakenly assumed that my personal acct was the JLH acct and the fact that I am using my personal acct for doing personal things like donating $33,000 USD worth of NXTprivacy to the BTCD community.
(cutting down on the quotes) Well, the clarification in the first reply about the accounts would have been enough. But instead we have to go back and forth with this and the whole "accusing" thing. You, yourself wasn't sure of the transfers and took like 2 posts to reveal the BTCD explanation. In any case, the explanation is fair and I apologise. The text you quote is from an older version, cassius wrote the document and I missed the potential confusion, so as soon as somebody else pointed this out we modified it. If this text is still in the current version then I must have made a mistake in the uploading. I was having many connection problems that day (and most days). So I apologize for this error, I believe it has been corrected and you have an older doc. as far as my percentage of sharkfund, you can just look in the acct: http://nxtreporting.com/?a=NXT-SQ9J-JCAN-8XVY-5XN7K&c=USDI have 521 sharkfund0 right now. I used to have 800+, but in order to pay for core assets held by the various operating assets, I had to swap a all my NXTventure, JLH and a big chunk of my sharkfund. I did most transfers within a few minutes, but there was one that had some hours gap. I forget the exact swap, but half was pending for some few hours. Now I am rounding, so when I see 6989495 or something like that I round it to 7 mil. It could be that for some marketrate swaps I am guilty of some fractional gains due to this rounding. If this is an issue, please specify which swaps I am guilty of having benefited from and I will refund the difference. Though, it would only seem fair that in the cases the rounding error went against me, I should get a credit, so I ask that you calculate all these roundings and the net difference between myself and the various assets, and this I will refund. Let me know if you think that is fair. Considering your confusions, maybe the NXTsharks acct NXT-ZWW7-PSXW-89TR-AA67Z is not known to you. This is the acct that issued the sharkfund0 and if you look at it you will see that it has 8'625.0026 sharkfund0 assets. But these are assets that it has issued and not sold. You can also find out that a total of 10000 sharkfund0 were issued, so subtracting them we get 1374.9974 sharkfund0 which makes my 512 to be 37.236434047075% of the total. So if all these sharkfund0 goes into the SuperNET, then 3.7% of BBR is in the SuperNET. However, the actual total is higher as the other assets that I swapped the sharkfund0 with are having more of the sharkfund0, so we will get more contributions indirectly. i dont have a way to estimate the exact figure, due to uncertainity as to the total core assets to be put into the SuperNET, but it will probably end up being around 5%. If the 10% amount is something that you are feeling strongly that is needed, this could be solved by using the proceeds to directly purchase the 5% Nope the part which was corrected (and to show you I am reading through the thread ) which read something along the lines that SuperNet had already acquired 10% of BBR. The correction was to include "10% BBR acquired via sharkfund0". Again I am not worried about roundings or which way they fell, rather the "holding pattern". Can you buy 10% BBR? yes. Do you have 10% BBR? No. Is it required? I don't know. Am I aware of the NXTshark account? Yes, because that is the issuing account. You are using a word that is indicating fraud, this I take offense at. Now the ponzi is an unsustainable system where the existing owners are paid by the new buyers and the only way this can keep working is to always get new buyers. I didnt bother to answer your accusation of fraud as this is nonsensical when applied to my assets. I am not selling the asset promising returns of X% and funding this X% return by selling more assets. Since you continue to accuse me of fraud with no basis, I suggest you can do your own homeworks to fund out which of my assets are owning which of the other assets using the blockchain. I have better things to do than make reports when the reports are already there for everybody to see. So, one asset owning another is not a ponzi and yes you should "dig" up this info because I dont do GUI. If the data is already there for everyone what use is it for me to waste my time on it? your problem is that I am using "ponzi", let me rephrase the question (its not an accusation but again....) 1. You issue an asset a1 with 10k NXT initial price 2. Then you issue an asset a2 with 5k NXT initial price. You buy into the 1st asset, valid/invalid market rates, doesn't matter. In this way, you: a. prop up asset a1 by increasing the market trading and shareholding pattern b. increase book value of a2 by bringing in assets worth X2 the a2 asset Have you done something like this? Cause I see Instadex (NXT-74VC-NKPE-RYCA-5LMPT, correct me if I am wrong) holds - NSC and jl777hodl, even when its not supposed to be a fund? So how are your assets are linked to each other? I have written my contingency plan and it is in this thread and since you continue you accusatory tone even after my continue requests to use this "innocent until proven" guilty philosophy and also that you have only demonstrated my generous donations and your lack of understanding of how the NXT assets are working (this is ok, but you should understand the facts before jumping to conclusions). I have stated that this thread contains the latest up to date info, this is an obvious thing as this is the official SuperNET thread, where else would the latest info be? So, generally speaking I am getting direct access to 1% of the funds, which is about 30 BTC at current levels and in this case putting in 300BTC, so I would be losing access to ~270 BTC. For this, I dont thing any contingency plan is needed as if something is happening to me, the SuperNET is gaining 270 BTC. For the other 99%, I have stated that we are going to have to find the escrow methods during the fund raising process, which is 2 to 4 weeks from now. Since I am not getting access to most of the funds, I though this would be acceptable.
The wrinkle was that an unexpected amount of NXT came in via AE (20 million NXT!) and I have had personal access to this 1600 BTC all day. You can see that it is all still there. I could have just disappeared with 1600 BTC, yet I continue to tolerate all these questions which could have been asked in a respectful manner that I feel I have earned. I think that I have at least earned the right to not be interrogated like some crook, but rather just asked factual questions without biasing the reader by using words like "ponzi" when it has no behavior like ponzi that I can even think of. Anyway, you probably didnt even bother to read the post I made about finding the NXT community escrows for this 20 million. Since I figured the people like you will feel that I am a flight risk with all this NXT, I thought it best to get it taken care of as soon as possible. Just think, 1600 BTC just there and all I have to do is go send NXT and its gone. Does it affect your opinion at all that I could have already taken all this money, but havent and instead am spending all this effort answering your accusatories? The community is making a discussion on who in the community should be holding this and I am not participating in it so as not to be accussed of tampering with the selection process.
The process to get money out of escrow is described, but I know you are kind of lazy and dont like to do much reading so I will repeat it. For the previously defined (and updated by this thread) uses of the funds that were prior to the first funds being received, a post to this thread that conforms to these defined uses will be all that is required. Then one of the trustees posts that they approve it and then they get confirmed as the one to pay, then they pay. This avoids the possibility of double payment. the procedure is open for all to see. If anything suspicious is happening, I am assuming somebody would protest and then we will use common sense to resolve such matters. I do not have to be specifically involved in these things if it is following the right procedures, but I would think that most trustees would wait for confirmation from me to prevent some random person trying to spend the escrowed funds. All the procedures are not spelled out as SuperNET is not a fiat based corporation, it is a crypto organization. We will use common sense and logic to resolve things.
Now if you had read the official thread you would have also seen that for non-standard expenses, there is a decentralized voting that will be used to approve or decline the spending request. There are three threshold levels 50%, 2/3rds and 90%, the threshold needed is specified in the voting info. if there is some controversy over this, we have a majority wins prevote for the three thresholds and the ones with the most weight is the threshold that is used. The voting weight is the number of SuperNXT assets one has.
The proposing of the vote is something that will probably need to be filtered and at first I imagine that I would be the one to formally propose a funding vote. However, there is no reason this has to be me, as soon as somebody has some good ideas for funding, they should post it here. If I am sensing that the community is divided over the issue I would be compelled to hold a vote. Now this function is really something anybody can do. You just have to notice that either everybody is agreeing or not. So this is one task I look forward to have somebody else do. Thanks for clarifying that. Though as I already said, contingency was not only about flight risk but also about IRL issues. A leaderless project doesn't do well. So again let me ask you nicely - What is the contingency plan in case there are issues - seen or unforeseen between the project? You might think crypto space is separate from fiat space but you also must be knowing how soon things fall apart here. f you read this thread and I think the other investors would prefer that you spend an hour reading the thread than me spending two hours responding to questions that would have been answered had you read the thread, you will find that the method for escrow requires that one of the distributed escrow holders accepts the spending request and presumably requiring the appropriate documentation. In cases where there are sensitive details the common sense thing to do is PM the sensitive details and redact the public post. If the spending request is appropriate, the trustee posts his approval and then gets a confirmation to spend. this is a treasurer function and another task that I do not need to be involved in, though the original request for funding is probably something I will always be doing as this is of critical importance, to know where the money is going. We are in the process of doing this for the NXT. I also posted in this thread, but nobody has followed up on it yet. In any case the amount of NXT raised is surprisingly a bit more than half the total so it makes sense to take care of that first. If we cannot find the BTC trustees, I am sure we can have the NXT trustees also hold some BTC too.
I am also planning on using companies like Xapo and Coinbase for some portion, bter for another, but for this we have 2 to 4 weeks yet to solve and not knowing the magnitude of the offering, it is not possible to make any coherent plans. I would not have predicted 26 million NXT would come in the first day, so any plan made would have been wrong. I like to be efficient and solve the problems that need solving and using my experience, judgement and common sense to figure out the best thing to do.
James, again the question is what are the terms for releasing the escrow? How would one decide if the need is justified or not (yes I know you hold 1600 BTC now and have not run away with it) ? Specially considering I have seen escrowers who deal in bad faith and yourself are a known name in the community? Again this is not an accusation but rather a concern? Do you think its a valid one? IF common sense is all there to it, then lets drop it. That all said, I do appreciate you answering my posts patiently. As I have already stated I am not buying the IPO, for stated and unstated reasons. Though your persistence in answering my posts personally has won me over. Thank you! |
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anix6
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September 07, 2014, 08:20:58 PM |
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Sorry for the noob question in advance, never used the AE before.
I have nxt in my nxt account and I am looking to get involved with supernet - I am buying this asset right? 15641806960898178066
Thanks in advance.
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amytheplanarshift
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September 07, 2014, 08:22:39 PM |
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I wonder if there is any chance of LibrexCoin getting added to the SuperNET...
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jl777 (OP)
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September 07, 2014, 08:26:57 PM |
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Parano is it true that you didnt read the three pages following that link? yes James I did read and all talking about it, but you know how many trolls are around you don't know sometimes what to believe so I just wanted confirmation, that's all, I know you need to use common sense, but some troils are extremely clever, as you said tomorrow lots of trolls will attack you tomorrow, so will be full of lies so do I need to read pages of lies to know is true or no, I need to confirm with the main developer, I hope I make sense if not I apologies OK, well it was me posting there, so I can confirm I am helping them. I explained this yesterday, but probably got lost in the blizzard. I will summarize the key points. About a month ago I was contacted by drkman who asked for my help with VRC. They had undergone some externally caused issues and it didnt seem right that an entire community had to suffer and the atmosphere became toxic with three regular trolls just chasing everybody out. Anyway, VRC is much bigger than BBR and I couldnt afford to just buy a big chunk, so I came up with an option arrangment where we set the price before the deal is announced and if the price goes to ATH (5x) I can buy half and if 10x I can buy all of the VRC in escrow. This is somewhat similar to SuperNET structure, but I realized the problems with the options approach as it is harder to understand, there are all these different triggers and it just is complicated to setup. Now this is a big step and I required confidentiality as I did not want my name being thrown around a possible deal as is was far from a sure thing. The VRC devs did a perfect job in keeping silent, in spite of an ongoing and violent debate about dev4. That is how they called me, but I was too busy with other things, so I wasnt aware of the dev4 turmoil in VRC. Without being able to reveal details it became clear that there was no way that the community would be able to come to an agreement and things were looking quite bleak. A real long shot. Last Saturday, I had three hours before the start of funding and I was in no condition to code, so I decided it was a good time to get closure on the VRC commitment I made. A critical part of the deal was that I would personally create unique tech for VRC. With the countdown timer ticking down I went into IRC (full log available on VRC thread) and for an hour wasnt able to complete a sentence due to the buy4crypto troll who is in the category of psycho troll. Truly believes what he is saying and just wont stop, believing that if he keeps repeating himself, people will believe him. So, I had no time or mood for being called all these names when I am trying to help, I said mute him or I cant do this. They muted him. In half an hour that was left (I had to keep stepping away to escape the troll attack) I quickly outlined my plan for VRC. Basically get rid of the toxic trolls via shunning if necessary, integrate 2.0 crypto tech with the reskinned GUI, etc. Along with some powerful market positioning and some possibilities for the future tech I was thinking of. Within half an hour after the troll was muted, there was near unanimous approval of pursuing the deal. Certainly some hesitation and skepticism, but the first milestone I asked for was for the community to put into escrow 500K VRC, that is 2% of all VRC. In NXT terms that is 20 million NXT. I gave them 24 hours. This was a very steep demand, but with the true number at 10%, it is only just the first step. I knew that there is no way for any 10% to go into escrow for a year, especially since I made it clear I cant start coding until I am done with the current set of projects. so this puts it around 6 months out. I wasnt doing it for the money. I needed to see if the community was broken or if it was just injured. I also wanted to see what happened before they all found out about the big money coming into SuperNET. Now they are clear that VRC has to earn its way into the core, but there are other ways to help the SuperNET and all these details are there for the studious to make some homeworks and investment decision. Then the fund raising started and we all know the mess, the cleanup and I collapsed. Today I discover that the VRC peoples managed to raise the 2%! And the mood and atmosphere was electric. Just super charged. It was very nice to see. Then the psychotroll comes back and again the same old thing, jl777 is evil, he kicks snot kittens, blah, blah blah. Most of the VRC camp are just ignoring him, but he escalates and now claims that during my discussions with the VRC devs, I must have found out about some email he wrote them that talked about some coins cooperating and that I stole the idea for SuperNET from him. The reason he had to resort to this level of nonsense is that earlier, before the return of psychotroll, I had unilaterally changed the terms of the deal! Now I usually dont do this as I am a man of my word, but I do make exceptions. My general rule is that if you are making the deal better for the other side, then it is ok to change. This is common sense. So, wanting to show the VRC people that they can do anything, I made it possible for them to raise the 10%. Now the requirement is for 10% to be put into escrow from everybody but if somebody doesnt want to, all they have to do is post saying they are a freeloader and dont want to put anything in, even though everybody else is putting in 10%. This way, we get either 10% or at least 10% accounted for. So, this way the entire community comes together, but of course all of you are saying, wow, pretty clever way to get 10%. I know that if I am to be benefiting from this personally (this deal predates any SuperNET so it is all a personal deal), there is no way for the community to agree to any such thing, regardless if it is risk free. So I donated all the proceeds from the escrow to the VRC community, full well knowing in the success scenario it meant a $1 million USD grant. Now people started to believe I really am not doing this for the money. There was already 2% of VRC in the fund to me personally with the 5x and 10x triggers, so this is very likely real money. For anybody that is wondering why VRC is up 80% in the last 24 hours, this is the reason, it went up 30% as soon as I entered the IRC and is holding steady 80% higher, so now it is 2.5x and 5x for the triggers. That is why the troll had to go into fantasy scenarios about my stealing the idea from him (he is not even a coder) So that is how I spent the time right before the start of the funding James P.S. tl:dr VRC is a 6 month personal project of mine and to find out the implications about SuperNET some homeworks is required. I do not like that people are just blindly buying any coin I mention. So, I am not spending coding energy on VRC until after all the current SuperNET and BTCD projects are done, but I will be offering some small advices for VRC devs and community and I will happily vaporize the trolls that dare enter. VRC thread is now a no troll zone, just like the BTCD thread and this one. |
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Parano
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September 07, 2014, 08:50:34 PM |
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many thanks James for the explanation, one thing I would like to know, I see troll everywhere. Where are they coming from, I am not talking about the trolls that talk bad or good of a coin just to bring the value up or down to make some money, I am talking about the Virus Trolls one is installed in a forum it does not leave and day after day attack the owner of the coin and the coin itself? why...its like he want to destroy the coin...does it do for pleasure? or someone pay him/her? Are big tycoon people involved so crypto does not take over big finantial intitutions like banks etc...who are these awfull trolls? it seems there is always one troll dedicated in each forum to destroy the coin, Are all these trolls paid by banks, Secret Police, Goverments etc who are day?
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S3MKi
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September 07, 2014, 08:52:37 PM |
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how much btc collected?
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jl777 (OP)
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September 07, 2014, 09:22:28 PM |
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your problem is that I am using "ponzi", let me rephrase the question (its not an accusation but again....)
1. You issue an asset a1 with 10k NXT initial price
2. Then you issue an asset a2 with 5k NXT initial price.
You buy into the 1st asset, valid/invalid market rates, doesn't matter. In this way, you:
a. prop up asset a1 by increasing the market trading and shareholding pattern
b. increase book value of a2 by bringing in assets worth X2 the a2 asset
I am assuming there were no remaining issues with the first two parts, let me know if I missed a remaining question. First of all the "book value" of the operating assets are not anything that is reported and used for valuations, at least I havent done that for the operating assets. The sharkfund0 and JLH are holding assets, so the book value is all that matters. So, unlike in the real world where operating company valuations are reported using book value multiples as one component and to artificially inflate this would fraudulently inflate the valuation, with my assets this is not the case. I might have mentioned a few times that XYZ asset has X million NXT, which is a "cash" value of X per share. But I dont remember ever saying any of the operating assets has a book value of X million NXT from all these assets and so the operating asset is worth M*X. That being said I am usually issuing assets at different times and I am never doing any false trading of the assets. I do as I have written before spontaneously buy underpriced assets, mine or any others, but these are real tradings and since trading is one of my skills and I seem to be somewhat proficient, I feel it is an acceptable use of operating asset capital, especially when I am not having any fixed overheads and there is plenty of cash for the minimal needs. In any case, I still have the assets purchased and they are less liquid than NXT itself, but with the minimal cash needs I cold always just sell of bits and pieces as needed. So I am viewing these tradings like moving funds from a checking account to savings account or certificate of deposit. Varying levels of liquidity and income. I hope this is not getting me in to trouble. Basically I make asset trades to make more money directly from trading and not for market manipulating. One way to think about it is that since I am often involved in pretty much most of the significant developments in the NXT universe, I have essentially insider info, but I do not believe there is any prohibition even in the real world from using knowledge you rightfully gained to make trading profits. So, now you have successfully interrogated me to get part of my secret on how I am almost always right with my tradings. Again I hope to not be in trouble for this, my only excuse is when I am having the knowledge that coinomat is going to double, how can I not just buy 1 million of them. Maybe I should let others to buy this, and usually I am announcing the inside info I have and waiting for some time to give others a chance to get the info and act on it. If after some time, an hour or so, it is still there, I grab it. I am sure that there are some cases where I did not have the discipline to announce and wait before I buy. I am guilty of this. Have you done something like this? Cause I see Instadex (NXT-74VC-NKPE-RYCA-5LMPT, correct me if I am wrong) holds - NSC and jl777hodl, even when its not supposed to be a fund?
NSC is sent to me by the girl whose "proposal" saved the 50 million stolen NXT! this is just a reward for running servers and is sent automatically. the JLH in InstantDEX came from the cleanup process I described to you earlier and also before the start of funding. Over the months my tradings described above had made somewhat of a mess inside some of the assets and to untangle them and make it easier to understand, I did marketrate swaps from my personal account. The JLH in InstantDEX was from this housecleaning. Since the core assets are all moving inside of SuperNET, the whole linkage thing is not meaningful and I ended up scrambling some of it with my tradings. I felt it was best to get them as streamlined as possible give the constraints of marketrate swaps. The problem is that I spent all my NXT buying assets mostly other people's assets. I am pretty sure that I have purchase more assets than everybody else combined (excepting the mgwCOIN assets), so all of the NXT that I have made are reinvested into the NXT communities other asset holders. If you look at my history and the top assets that are not mine, you will find that most likely I am one of the biggest asset holders. so, think of these assets in the operating assets as common stock owned in the company's treasury acct. I am sure many real world companies have brokerage accounts where they own some stocks. It just happens that since the majority of trading volume on the NXT AE are with my assets, and I actively trade assets, my assets have my assets. So how are your assets are linked to each other?
not as much as before, but there are still links based on the current holdings. The JLH is horizontal asset and it include over two dozen assets and of course a lot of them are mine. The sharkfund0 asset is tuned to reflect Teleport, think of it as a sector fund. NXTprivacy owns the majority of Privatebet and 30% of cryptocard. Privatebet will own the NXTventure incubated assets as I have described in this thread. The InstantDEX does not have ownership linkages, but it does have revenue sharing linkages. Half of its revenues are going to assetholders and the other half are shared among various parties, such as MGW, Tradebots (aka NXTcoinsco triple share), BTCD stakers, uMGW operators, and some unallocated revenues that I plan to use top optimize positive feedbacks. Currently i am thinking of providing global revenue sharing to all the SuperNET users for most of the balance. I figure getting this revenue flow would be more effective than any sort of advertising campaign, but I need to see how things unfold. Tradebots (its actually called NXTcoinsco but I cant rename it) will be doing revenue sharing of its own. Writers of tradebots will be earning some fees, some of these tradebots will be designed for automated trading, like the Metatrader expert advisers. Unlike the traditional bot where you pay $100 or $1000 or more, these tradebots you only pay with a percentage of profits. This allows autotrading on a pay for performance basis and I think this industry is badly in need for this as most products are backtested fantastically, but their realtime performance is of course much worse and possible harmful. But with the money upfront and burdensome refund policies, well there is only incentive for a compelling direct response website to get the order. With my plan the incentive is only to make profitable bots and this I am hoping will let investors experiment with bots that the author is actually caring that it works. [I plan to be one of these authors as I spent 6+ years working on an SVM based automated realtime forex trading system. In my backtests, I can get 98%+, but with realtime 85% is about as good as I have achieved at the raw data. I was just getting very promising results in November of last year after so many years. Then I discovered crypto and this project is on hold but halfway ported into Tradebots] If you have any specific questions, please ask them, you are quite clever with asking short uncapped questions that this must be your revenge for my forcing you to read the whole thread Thanks for clarifying that. Though as I already said, contingency was not only about flight risk but also about IRL issues. A leaderless project doesn't do well. So again let me ask you nicely - What is the contingency plan in case there are issues - seen or unforeseen between the project? You might think crypto space is separate from fiat space but you also must be knowing how soon things fall apart here. I plan on not getting killed for at least 6 months. Let us accept that if I am "disappeared", this will be a setback to the project. However, with "worst case" risk of 20% and the source being open and my copious postings, I am sure within 6 months all my projects will be on track, so the tech risk of me being gone is a six month delay. I will not speculate on the impact of theoretical competition during my theoretical disappearance. I have found it pointless to combine hypotheticals when planning for the unlikely event and the unknowable nature. I hope that is ok. My goal is to get obsolete within 6 months. It might take longer, depends on how quickly we can staff up. So the investors must risk their money on my not being disappeared. This is why I am anon, there are both legal and extra legal pressures that can be applied to a known person. I prefer to protect myself and the investors with anon status and to be very careful around buses. In anycase, I know that investors money is very important, but keep in mind in these scenarios I am most likely dead, so this is a much bigger problem for me than a 6 month delay. James, again the question is what are the terms for releasing the escrow? How would one decide if the need is justified or not (yes I know you hold 1600 BTC now and have not run away with it) ? Specially considering I have seen escrowers who deal in bad faith and yourself are a known name in the community? Again this is not an accusation but rather a concern? Do you think its a valid one? IF common sense is all there to it, then lets drop it.
I thought I answered this. The trustees are obligated to follow the "charter" of the SuperNET, basically the allowed expenses that I outline in the PDF and the posts prior to initial funding. so the 10% bankroll for the supertraders, the NXTventure fundings for investments, and of course the tradings to get the advantaged investments from the new coins. These are not so frequent events and the NXT community is coming up with proposed standards of conduct, even an Oath for the trustees. The current thinking is that all the trustees would analyze a request for funding, then evaluate if it is within the charter and then if the majority of trustees approve it, then one of them is selected with a notice of approval. Then the approver approves it to make sure there is no double spending and some checks and balances against alien mind control and morphing into a monkey. So, there is a proposer (probably me at first) -> trustees -> selected trustee (or denied) -> approver -> payment sent The list of trustees is being nominated and selected, so I dont know who they are and I do not want to be involve in this process as I already have too much influences just by being the proposer. We have not even started on selecting the approver. This person's job is primarily to detect alien mind control, so as long as it is a person who has good judgement that there is no funny business going on with the entire rest of the payment process, then we are good. Separately there is the voting of the asset holders, it is described in details, so I wont repeat it here. I apologize for mistrusting you. It turns out you have asked what are probably the best questions about SuperNET of anybody. Thank you! James |
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