jl777 (OP)
Legendary
Offline
Activity: 1176
Merit: 1134
|
|
September 23, 2014, 10:20:06 PM |
|
no, i just used that as an easy to use example of getting value for value i plan to keep the vast majority of the 10% intact until much higher values and use it only when it makes sense to As it is I will have 57 BTC for the entire operating budget of SuperNET, the 10% working capital gives a bit more breathing room.
James
Thanks for clearing that up. And I think you meant 5700 BTC budget not 57, right? At least I hope. lol There is only 1% available for working capital now! That is ~57 BTC The rest of the funds have strict usage guidelines and procedures, hence the request for extra 10% for working capital. James James is there any plans to "divest" from some of the nxt holdings? Holding too much nxt or anyone coin is a issue since the nav would be impacted to a large extent. The NXT is earmarked toward investing in companies that will be making products/services for SuperNET The day to day volatility on NAV is not anything that I worry about too much. The price it goes up and down, what to do? The value, this can be improved continually and the price will catch up. The NXT can be used to finance dozens of small companies and in a way where the invested capital is coming back so it can be used over and over. James
|
|
|
|
mcjavar
|
|
September 23, 2014, 10:37:53 PM |
|
Both polls so far unanimous. Looks like James will be getting his extra 5% soon.
I really hope so, think about what we all have then I can´t really understand what this voting is about, although I have two master degrees and have read the text several times. Could someone please explain it to me? There you have it, master degrees won`t get you anywhere. Just stay on the train, and keep your hands inside the vehicle at all times . . I was thinking the same after I received the second one. cheers!
|
|
|
|
fnxt
Member
Offline
Activity: 61
Merit: 10
|
|
September 24, 2014, 12:22:31 AM |
|
the funding will continue for 2 more days
Could you name the exact end time/day when the ICO finishes. 48 hours from the trigger would made it 1400 GMT on Tuesday I think one day for the voting to end at 1400 GMT on Wed one day to distribute assets and start trading 1400 GMT on Thu I am getting this confirmed with bter. The voting will be to Approve or Reject #### Proposed voting ballot The BTC equivalent raised would be the total BTC equivalent at the time the fund raising is closed using the then current coinmarketcap prices for the NXT, CNY, BTCD. Let us call this the "BTC raised" 5% bonus achieved when the BTC marketcap from coinmarketcap (or other reliable source) sustains 3x BTC raised for 24hrs+ and another 5% bonus achieved at 10x thanks In the event the 3x bonus is not achieved before year end 2014, the 5% goes to SuperNET working capital. Similarly the other 5% would go to SuperNET working capital if 10x is not achieved by year end 2015 On the closing of TOKEN fund raising, 10% of SuperNET assets to go to working capital, 10% to jl777 for the 2000BTC of assets, 10% held in reserve for the 3x and 10x bonus. The minimum dilution is 10% if neither bonus is achieved and the maximum dilution is 20% if both bonuses are achieved. #### I will confirm this for sure when I get confirmation. I think we can start the voting process before the end of funding, just take a snapshot of votes at the end of voting. bter will setup a special voting page. For NXT AE TOKEN the following two addresses are how to vote. ApproveBonus NXT-GR5T-8W3L-UFQP-8VFPV RejectBonus NXT-FCHV-C8VL-YWFJ-EELVV The last tx you do to either of the above accounts will be your vote. valarmg will have the details on what tx is supported. I think sending any message will do. James It is confirmed
|
|
|
|
coinxun.com
Newbie
Offline
Activity: 2
Merit: 0
|
|
September 24, 2014, 01:31:24 AM |
|
the funding will continue for 2 more days
Could you name the exact end time/day when the ICO finishes. 48 hours from the trigger would made it 1400 GMT on Tuesday I think one day for the voting to end at 1400 GMT on Wed one day to distribute assets and start trading 1400 GMT on Thu I am getting this confirmed with bter. The voting will be to Approve or Reject #### Proposed voting ballot The BTC equivalent raised would be the total BTC equivalent at the time the fund raising is closed using the then current coinmarketcap prices for the NXT, CNY, BTCD. Let us call this the "BTC raised" 5% bonus achieved when the BTC marketcap from coinmarketcap (or other reliable source) sustains 3x BTC raised for 24hrs+ and another 5% bonus achieved at 10x thanks In the event the 3x bonus is not achieved before year end 2014, the 5% goes to SuperNET working capital. Similarly the other 5% would go to SuperNET working capital if 10x is not achieved by year end 2015 On the closing of TOKEN fund raising, 10% of SuperNET assets to go to working capital, 10% to jl777 for the 2000BTC of assets, 10% held in reserve for the 3x and 10x bonus. The minimum dilution is 10% if neither bonus is achieved and the maximum dilution is 20% if both bonuses are achieved. #### I will confirm this for sure when I get confirmation. I think we can start the voting process before the end of funding, just take a snapshot of votes at the end of voting. bter will setup a special voting page. For NXT AE TOKEN the following two addresses are how to vote. ApproveBonus NXT-GR5T-8W3L-UFQP-8VFPV RejectBonus NXT-FCHV-C8VL-YWFJ-EELVV The last tx you do to either of the above accounts will be your vote. valarmg will have the details on what tx is supported. I think sending any message will do. James It is confirmed
|
|
|
|
apex944
|
|
September 24, 2014, 01:50:26 AM |
|
I just voted to approve. James, I think you're safe.
|
|
|
|
starfishi
|
|
September 24, 2014, 02:33:31 AM |
|
Both polls so far unanimous. Looks like James will be getting his extra 5% soon.
I really hope so, think about what we all have then I can´t really understand what this voting is about, although I have two master degrees and have read the text several times. Could someone please explain it to me? There you have it, master degrees won`t get you anywhere. Just stay on the train, and keep your hands inside the vehicle at all times . . I was thinking the same after I received the second one. cheers! You´re welcome.
|
|
|
|
jl777 (OP)
Legendary
Offline
Activity: 1176
Merit: 1134
|
|
September 24, 2014, 03:02:21 AM |
|
Just burned the 59'834'343 unsold TOKEN txid 1698643550463930707
|
|
|
|
starfishi
|
|
September 24, 2014, 03:17:25 AM Last edit: September 24, 2014, 03:47:16 AM by starfishi |
|
Please can someone explain the following and please don't make fun of me, I don't have master degrees What do we get as investors if we approved bonus and what do we get if we reject bonus, I am not talking what supernetwork get, I am talking what do we get as investors, and do we lose anything by voting or not voting? Thanks ". . . jl777, whose interests are firmly aligned with yours" damn, why can`t i never come up with beautiful sentences like this . . , seriously. (well, thats why i have no master degree, there you have it )
|
|
|
|
mladen00
Legendary
Offline
Activity: 2124
Merit: 1013
K-ing®
|
|
September 24, 2014, 04:33:09 AM Last edit: September 24, 2014, 06:14:42 AM by mladen00 |
|
Assuming the Bonus plan is passed, a total of 816061 SuperNET (UNITY)
Where did you get 816061? Shouldn't it be the TOKEN sold (571243) + 10%? Yeah, a more detailed explanation is needed. I was not expecting that much total UNITY even after the bonus conditions are met. That's way more than the 20% max dilution previously proposed. 652849.2402 TOKEN sold. Of the total UNITY issued, SuperNET gets 10% and another 5+5% are held as James' bonus. So: 652849.2402 = 80% UNITY 652849.2402 / 80 * 100 = 816061. I just missed out on 0.1% Edit: 10% for SuperNET, not James! Ok, now I'm a bit more confused. I thought the total TOKEN sold was 571243.1402. Where did the 652849.2402 come from? And why is the 20% added to this number instead of the 571243.1402? 816061 seems to be 571243.1402 + 30%, right? 10% is put inside itself as working capital? 10% (5% +5%) is kept in reserve for bonus conditions. And the other 10%? Not questioning this, just can't remember the original conditions so just looking for clarity. 10% for me 10% for SuperNET 10% for bonus in reserve 70% for TOKEN owners TOKEN owners currently own 7/8'th of SuperNET as the 20% for SuperNET and bonus reserve are not dilutive keep in mind the TOKEN owners put in ~5700 BTC and I put in ~3000 BTC of assets, so on a prorata basis I would have 34% respect to James, but i think you can't get ~3000 BTC for that assets, you can't get even 500 BTC. Valuation according to the largest query for assets is wrong. You can't get that money. This deal is very good for James
|
IOTA
|
|
|
patmast3r
|
|
September 24, 2014, 06:33:36 AM |
|
Is there an estimate on how long AE users will be able to exchance TOKEN for SuperNET ? I'm here everyday but looking at the rate this thread is going and the cumbersome OP I'm afraid I'll miss it.
|
|
|
|
kennyP
|
|
September 24, 2014, 06:37:49 AM |
|
Has Bter announced when token withdrawals will be activated?
|
|
|
|
dzarmush
Legendary
Offline
Activity: 1806
Merit: 1001
|
|
September 24, 2014, 06:38:40 AM |
|
Anybody knows how to get a rich list? I suppose most whales bought TOKEN for Nxt on Nxt AE, there should be a way to see who holds the largest amounts of tokens.
|
|
|
|
Valta Crypto
|
|
September 24, 2014, 06:45:19 AM |
|
Do token holders on Bter need to do anything to convert to Unity, or will that happen automatically? Sorry if that was answered before.
automatic this information still valid?
|
|
|
|
n3lz0n
|
|
September 24, 2014, 06:51:04 AM |
|
Is there an estimate on how long AE users will be able to exchance TOKEN for SuperNET ? I'm here everyday but looking at the rate this thread is going and the cumbersome OP I'm afraid I'll miss it.
+1 waiting as well thanks...
|
Go Bitcoin !!!!!!!!!!!
|
|
|
SamWalters
Full Member
Offline
Activity: 238
Merit: 100
Sam Mother Fuckin' Walters
|
|
September 24, 2014, 06:51:39 AM |
|
James Can you consider looking into Coin Magi? The new M7M Algo that frustrates Big CPU Farms, Those who take over control in coins using High Hashrate... traditionally these are multi organized mining ops and botnets, now magi has a defensive mech against it and solves it by allowing individual miners to benefit.. THe video elaborates more a little https://www.youtube.com/watch?v=jpvpO0OE7DwOfficial thread has details and links: https://bitcointalk.org/index.php?topic=735170 I welcome any questions. I can get the dev to give some input about it and collaborate with you for details. Thanks Sam CoinMagi thread: https://bitcointalk.org/index.php?topic=735170
|
|
|
|
PondSea
Legendary
Offline
Activity: 1428
Merit: 1000
|
|
September 24, 2014, 06:54:54 AM |
|
Do token holders on Bter need to do anything to convert to Unity, or will that happen automatically? Sorry if that was answered before.
automatic this information still valid? Yes after the vote has completed, bter will have 24 hours. I think it should be completed by 14gmt on the 25th from memory.
|
|
|
|
jl777 (OP)
Legendary
Offline
Activity: 1176
Merit: 1134
|
|
September 24, 2014, 07:25:36 AM |
|
Do token holders on Bter need to do anything to convert to Unity, or will that happen automatically? Sorry if that was answered before.
automatic this information still valid? Yes after the vote has completed, bter will have 24 hours. I think it should be completed by 14gmt on the 25th from memory. I just heard. At Sept.24 14:00 GMT, bter will convert TOKEN into UNITY and allow trading! Withdraws to NXT AE will not be enabled for another day or so, but trading of UNITY will happen in several hours. you wont have to do anything, it will be all automatic For the NXT AE TOKEN holders, the redemption details will be posted by valarmg. There seems to be a pretty active market on AE already, so in several hours there will be both TOKEN trading on NXT AE and UNITY trading on bter. James P.S. For those who say that there is no liquidity with assets, look at: http://coinmarketcap.com/assets/freemarket/#markets $180000 USD of trading the last day in just one asset
|
|
|
|
jl777 (OP)
Legendary
Offline
Activity: 1176
Merit: 1134
|
|
September 24, 2014, 07:28:42 AM |
|
Is there an estimate on how long AE users will be able to exchance TOKEN for SuperNET ? I'm here everyday but looking at the rate this thread is going and the cumbersome OP I'm afraid I'll miss it.
do not worry, we are doing everything we can to prevent any sales of TOKEN without value, so we decided to make a redemption process. The TOKEN will not get any dividends and have no voting rights other than the initial vote, plus it wont be interchangeable with the UNITY that will trade on bter. Due to this, I expect the vast majority of TOKEN to be converted to SuperNET/UNITY Since it is a redemption process, there will be time to do this. James
|
|
|
|
jl777 (OP)
Legendary
Offline
Activity: 1176
Merit: 1134
|
|
September 24, 2014, 07:29:23 AM |
|
Has Bter announced when token withdrawals will be activated?
TOKEN will never be allowed to be withdrawn at 1400 today, TOKEN -> UNITY and trading will start
|
|
|
|
torshammer
|
|
September 24, 2014, 07:30:00 AM |
|
SuperNet trading. Excellent. Game on!
|
|
|
|
|