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

[whetherman]

Bud, give it a rest. James has been transparent the whole time. ICO investors did their due diligence, they do not need babysitting at this point.

If you don't like the conversation feel free not to join it. This is a legitimate line of questions. How could investors do their due diligence if this information was not made clear before, during or after the ICO even up until now. It seemed to be clear. But now that the moment is potentially upon us things are seeming quite muddy.

I do not like the conversation. It is bordering on trolling.

All the  "mud" you are attempting to stir up now was exhaustively presented to the community from JL in the run up to the ICO. There was a lot of back and forth about the percentages and the sizes etc.

If you are pretending that this sort of dialogue never took place you were either not there at the time, or you are being disingenuous now.

In any case, your attempts to stir things up probably won't meet with much luck.

[1715571178]

1715571178

[1715571178]

1715571178

[jl777]

Bud, give it a rest. James has been transparent the whole time. ICO investors did their due diligence, they do not need babysitting at this point.

If you don't like the conversation feel free not to join it. This is a legitimate line of questions. How could investors do their due diligence if this information was not made clear before, during or after the ICO even up until now. It seemed to be clear. But now that the moment is potentially upon us things are seeming quite muddy.

I divided the 17000 number by 90% of outstanding assets. The method has been agreed to and voted on, so really a moot point to debate.

Anyway, in the unlikely event the 0.234 threshold is hit, I am giving it out as holiday bonus to the SuperNET contributors.

The allocation will use a decentralized process. First round of voting to determine each person's "weight" and then a second round where each person allocates the portion of the bonus (calculated by their weight) to 3 to 5 people. The process itself will be finalized via community consensus, or lacking that even another vote to determine what method to use to do the allocation. I do not want to do any arbitrary bonusing as with 300 people in the slack now I dont know the exact level of contribution from most of them as I am spending most of my time coding and answering questions. I am not a micromanager.

So investors should be happy that the key contributors as determined by the community will be getting the largest bonuses

I believe this makes for a happy community, which in turn will create a better SuperNET

James

P.S. I do not want to do premature marketing as that could just create some hype. Since SuperNET's tech goals are quite unique and never done before, it is best to be totally ready before doing the big marketing thing. And I already have some budget for this anyway, I just feel getting 100+ people more vested with SuperNET will help the project more at this stage than premature marketing

[buybitcoinscanada]

Bud, give it a rest. James has been transparent the whole time. ICO investors did their due diligence, they do not need babysitting at this point.

If you don't like the conversation feel free not to join it. This is a legitimate line of questions. How could investors do their due diligence if this information was not made clear before, during or after the ICO even up until now. It seemed to be clear. But now that the moment is potentially upon us things are seeming quite muddy.

I do not like the conversation. It is bordering on trolling.

All the  "mud" you are attempting to stir up now was exhaustively presented to the community from JL in the run up to the ICO. There was a lot of back and forth about the percentages and the sizes etc.

If you are pretending that this sort of dialogue never took place you were either not there at the time, or you are being disingenuous now.

In any case, your attempts to stir things up probably won't meet with much luck.

If you believe what I'm doing is trolling, then you are hopeless. Again, if you don't like the conversation don't join. jl777 is a big boy. He can handle himself.

[youngmike]

you are partially correct. I put in a lot of assets at below market and so I shouldnt have to triple the value of what I essentially donated, but the divisor is 90% of the total.

My calculation shows 0.0234 as the threshold and really, not much chance of this happening at this point so no sense in getting all worked up about it.

However on the off chance that it happens, I would like to share the bonus with everyone that has helped SuperNET to get to where it is. There are 300+ people in the SuperNET slack now, a large number of them working really hard and while I was critical to get the SuperNET started, already I am becoming a small part of the big picture.

I expect some large controversy over how it will be split up, but I think giving everyone in Slack the ability to allocate some part of the bonus would be a decent way.

Something like, we rank everyone's contribution according to a sliding scale. Maybe simply the number of posts in Slack, or hours worked, or servers contributed, etc. So, maybe 5 categories of people, each with a different wt and they can allocate a proportional amount of the bonus to 3 to 5 people, using open voting.

Tally it up and distribute out the SuperNET.

What do you think?

James

So those "bonus price points" are like dumping points?   Investors have to dump before them or get dumped on?  

[whetherman]

Bud, give it a rest. James has been transparent the whole time. ICO investors did their due diligence, they do not need babysitting at this point.

If you don't like the conversation feel free not to join it. This is a legitimate line of questions. How could investors do their due diligence if this information was not made clear before, during or after the ICO even up until now. It seemed to be clear. But now that the moment is potentially upon us things are seeming quite muddy.

I do not like the conversation. It is bordering on trolling.

All the  "mud" you are attempting to stir up now was exhaustively presented to the community from JL in the run up to the ICO. There was a lot of back and forth about the percentages and the sizes etc.

If you are pretending that this sort of dialogue never took place you were either not there at the time, or you are being disingenuous now.

In any case, your attempts to stir things up probably won't meet with much luck.

If you believe what I'm doing is trolling, then you are hopeless. Again, if you don't like the conversation don't join. jl777 is a big boy. He can handle himself.

Ad hominem attacks are the modus operandi of trolls. You are falling on your own petard.

[buybitcoinscanada]

Bud, give it a rest. James has been transparent the whole time. ICO investors did their due diligence, they do not need babysitting at this point.

If you don't like the conversation feel free not to join it. This is a legitimate line of questions. How could investors do their due diligence if this information was not made clear before, during or after the ICO even up until now. It seemed to be clear. But now that the moment is potentially upon us things are seeming quite muddy.

I do not like the conversation. It is bordering on trolling.

All the  "mud" you are attempting to stir up now was exhaustively presented to the community from JL in the run up to the ICO. There was a lot of back and forth about the percentages and the sizes etc.

If you are pretending that this sort of dialogue never took place you were either not there at the time, or you are being disingenuous now.

In any case, your attempts to stir things up probably won't meet with much luck.

If you believe what I'm doing is trolling, then you are hopeless. Again, if you don't like the conversation don't join. jl777 is a big boy. He can handle himself.

Ad hominem attacks are the modus operandi of trolls. You are falling on your own petard.

Ignoring the content and purpose of the actual conversation and creating diversionary sidetracking is also trolling. So either we're both trolls or neither of us are. Once again. jl777 is able to handle the questions and he is who they are directed at and meant for. If you don't like it, please avert your tender eyes.

[jl777]

you are partially correct. I put in a lot of assets at below market and so I shouldnt have to triple the value of what I essentially donated, but the divisor is 90% of the total.

My calculation shows 0.0234 as the threshold and really, not much chance of this happening at this point so no sense in getting all worked up about it.

However on the off chance that it happens, I would like to share the bonus with everyone that has helped SuperNET to get to where it is. There are 300+ people in the SuperNET slack now, a large number of them working really hard and while I was critical to get the SuperNET started, already I am becoming a small part of the big picture.

I expect some large controversy over how it will be split up, but I think giving everyone in Slack the ability to allocate some part of the bonus would be a decent way.

Something like, we rank everyone's contribution according to a sliding scale. Maybe simply the number of posts in Slack, or hours worked, or servers contributed, etc. So, maybe 5 categories of people, each with a different wt and they can allocate a proportional amount of the bonus to 3 to 5 people, using open voting.

Tally it up and distribute out the SuperNET.

What do you think?

James

So those "bonus price points" are like dumping points?   Investors have to dump before them or get dumped on?  

if there are any group of 100+ people who will hodl the SuperNET for a while, it is the people most actively working on it. Maybe some amount of selling to pay bills, but I wouldnt expect any large scale selling as it will be distributed fairly widely and evenly.

average of a few hundred to 100+ people, not exactly making a dumping ground. If anything, having that many people having a personal stake worth a few thousand USD might just have a very powerful effect as with a supercharged SuperNET the high end potential is quite good. What is worth a few thousand USD now, could well be worth quite a bit more in 6 months

James

[4emily]

problem solved then i couldn't think of a better way to deal with this. apart from cash out some to fund professional media/advertising

Surely a better use of resources given that SuperNET, whilst of course full of huge potential and very promising, still has some way to go before it can legitimately be regarded as an established success (which would perhaps be a more appropriate time to start handing out bonuses).

[Este Nuno]

You were compensated how many 10's of thousands UNITY for those assets? And still more meaningless saying you "gave" them for free or below market value when they are fantastically shallow markets on totally unproven assets.

Where are you getting that he was compensated 10s of thousands of UNITY? From what I remember he exchanged the assets with no strings attached, but also put forth the bonus plan at the time which was voted on by stakeholders and overwhelmingly passed at something like 85-95% Yes votes.

I figured there might eventually be some issues with the wording, so I'm not too surprised that it's coming up. We could really use someone with some law training to make these things more clear and more explicit. But it also doesn't really matter too much at the moment considering it was already voted on by stakeholders and James has decided to share any bonus with people involved with SuperNET now anyway. That is if the conditions can even be met, which is probably not going to happen anyway.

[Este Nuno]

What's the price Unity/BTC has to be in for James to receive his bonus?

.02109 btc

From OP:

Bonus plan for jl777

2 bonuses of each 5 percent of UNITY will be paid to James if the following conditions are met:

1. A tripling of market cap by the end of 2014.
2. A tenfold increase in market cap by the end of 2015.

The 3x Bonus threshold is 5737.1589 * 3 = 17211.4767 before end of 2014
The 10x Bonus threshold is 57371.589 before end of 2015

for nxt, big buy order at 290,
move on and good price.

a bonus of 5% .. am i missing something? thats $250,000 USD of todays market price, then another one in 2015 is another $250k.. half a million dollars.. thats 10% of the entire supply. should be more like 1%

To be fair, this project is truly ground breaking.  This isn't your typical bitcointalk shitcoin clone pump and dump garbage.

and i support the project. but 5% at 3x would equate to 330k usd, and 5% @ 10x would be 2.5million dollars USD, now i believe in it and all. but i believe 2.83 million USD is an absolute absurd amount of money as a bonus. 1% would be enough. considering he already owns a huge portion of supernet and btcd. 10% is way over the top, what if we give him 1% and the other 9% can be spent where it is needed, like graphic designing of websites and GUI's and marketing. as all those areas are severely lacking.

a strong marketing plan is needed, this is looking like a 50grand project not a multi-million dollar asset.


like technically right now if james was that way inclined he could grab 30btc and boost up UNITY on bter to above 3x levels, its not hard, then collect 330k usd. now im not implying at all that he would do that, im just stating. what are the rules, does unity have to be stable @ 3x levels or just hit it and dump?

There's already a big marketing budget allocated, so no need to worry about that at the moment.

It's a performance based reward, so it's mutually beneficial for both holders and James. It's his idea, his tech that he's open sourcing, mainly his work at least for now. 1% is ridiculously low, even now with this year's bonus being shared if it's hit it's only potentially 5% if UNITY rises 10x in 2015(which is quite the target). Not to mention if these targets are hit the value of the assets that he transferred will have had to appreciate in value significantly as well and something like InstantDEX which will be integral for SuperNET will be providing cash dividends.

You mention the USD value of the equity and feel that the amount in itself is outrageous, but when you consider that it's only awarded when the market is valuing UNITY at 8 figures, it's not really that much.

[windjc]

What's the price Unity/BTC has to be in for James to receive his bonus?

.02109 btc

From OP:

Bonus plan for jl777

2 bonuses of each 5 percent of UNITY will be paid to James if the following conditions are met:

1. A tripling of market cap by the end of 2014.
2. A tenfold increase in market cap by the end of 2015.

The 3x Bonus threshold is 5737.1589 * 3 = 17211.4767 before end of 2014
The 10x Bonus threshold is 57371.589 before end of 2015

for nxt, big buy order at 290,
move on and good price.

Okay. So 573715.89 UNITY were bought/created during ICO @ 0.01 btc per. That puts the initial market cap at 5737.1589 BTC. Then there is the 10% non dilutive incentive bonus for jl777 (5% for each goal, x3 this 2014 and x10 2015). Now if these extra 10% get counted to the initial marketcap (actually 8160.61 BTC) then they of course must be counted to the goal marketcap, which means the x3 goal is 24481.83 BTC.

Then logic clearly follows if these 10% UNITY do not count in the initial market cap, they don't count in the 3x calculation either. This puts the initial marketcap at 5737.1589 BTC and the goal marketcap at  17211.4767 BTC.

What does not get done is: Calculating the 10% UNITY for the initial marketcap, but then do not calculate them for the goal marketcap. Clearly it is obvious why this makes no sense. It is just padding the starting cap and reducing the goal cap with no actual progress. It's a trick.

The price started at 0.01, so logic follows that a tripling of marketcap means a tripling of price, as Supernet does not have an inflating share supply.

Now the above comments I'm responding to are not from jl777. So, I think we need an official statement from jl777 as to how this gets calculated and a justification for that. This should corroborate what was stated at the beginning of the IPO & not include any "funny" accounting like outlined above.

you are partially correct. I put in a lot of assets at below market and so I shouldnt have to triple the value of what I essentially donated, but the divisor is 90% of the total.

My calculation shows 0.0234 as the threshold and really, not much chance of this happening at this point so no sense in getting all worked up about it.

However on the off chance that it happens, I would like to share the bonus with everyone that has helped SuperNET to get to where it is. There are 300+ people in the SuperNET slack now, a large number of them working really hard and while I was critical to get the SuperNET started, already I am becoming a small part of the big picture.

I expect some large controversy over how it will be split up, but I think giving everyone in Slack the ability to allocate some part of the bonus would be a decent way.

Something like, we rank everyone's contribution according to a sliding scale. Maybe simply the number of posts in Slack, or hours worked, or servers contributed, etc. So, maybe 5 categories of people, each with a different wt and they can allocate a proportional amount of the bonus to 3 to 5 people, using open voting.

Tally it up and distribute out the SuperNET.

What do you think?

James

You were compensated how many 10's of thousands UNITY for those assets? And still more meaningless saying you "gave" them for free or below market value when they are fantastically shallow markets on totally unproven assets. I think you are doing good work, but lets not be silly James. You created a bunch of assets that had and still have no present function, make a bunch of promises about them, toss them onto an ICO that investors piled 6k BTC into and take a sweet piece of the pie. Additionally, the non-dilutive aspect of your bonuses makes this piece of the pie much, much larger. And now we are going to play with numbers and say 2.34x is 3x. On top of this, you continuously remind us that you are becoming everyday diminishingly important to the process, progress and future success of this whole thing. Please do not take my words to be cynical. I am just calling something what it is in a blunt way. You are a visionary and prolific coder and laying a foundation for something amazing. If this all actually works out it will be a monumental feat. To repeat, I think you are doing good work if it all works, but lets not be silly and play games with the numbers.

Could you please show us how you came to the calculation of 0.0234 BTC/UNITY.

I think everyone in this case is correct (to a certain degree).  James is working his ass off on this project and its his brainchild. I think he got around 10% of SuperNet for this leadership, with another 10% in bonus potential. I have no problem with that. In this case I want the lead developer to be super (no pun intended) vested into the projects success.

And the community did vote on the calculations James is using now, so it technically is a mute point.

Now lets not kid ourselves. James is very good with numbers and so your comments, BBC, about the state of current assets being traded and their arguably outrageous market cap in terms of Nxt (albiet the bear market in Nxt makes this situation more extreme, imo, as it drives more Nxt into Asset "havens") and James' ability to "swap" this value for the 10% and potential bonuses is also valid. However, this should have been clear to you from the outset, imho. It was there for everyone to see.

Likewise this "vote" will probably vote a % of the bonus to James. Coincidence? No. Bad thing - not in my opinion. James operates with a very generous hand towards the value of his assets, dispersements of dividends, etc. but unlike many devs, James has no problem putting himself in profitable long term scenarios. His mentality as I judge it is to take care off all the investors first, but take care of himself too. I have no problem with that. Especially as long as James is working 18 hours a day 7 days a week on this project.

You are probably the 2nd largest owner of SN. I am the 3rd or 4th or close. We all have a huge incentive to see SN succeed. Better we work together than airing dirty laundry for everyone to see.

[Cassius]

Some details of bonus and vote in the first newsletter: http://us9.campaign-archive.com/?u=eae7d500e24dcdb21b359fccf&id=897606bd2e
Also, if you haven't had a look at the SuperNET site, do - it's fantastic: http://www.supernet.org/en/
On the subject of large holders, does anyone know who NXT-6Q9C-4LCH-FWV4-4GJ6H is? He has a sell order for 7,333 UNITY at 444 NXT on AE.

[BadAss.Sx]

Check NXT-3R28-ZBCB-E8GT-C34JC, he has 500btc supernets

[Tommyhurley]

I for one applaud the idea of James to distribute the bonus payment (if any) to the slack community. I have not yet seen any such similar generosity proposed in any other crypto project.

On the topic of large holders, we are about the break the 1000 asset holders and it looks like were growing very fast atm. There are a lot of asset holders who hold 500 supernet or even 1000 for that matter. The distribution of supernet looks very good imho. The sell wall of 7333 supernet at 444 nxt should be seen as a welcome gift to early adopters because I expect this will sell wall will get eaten fast in the coming month. Why would anyone in their right mind sell such a large amount of supernet for such a low price knowing the prospects as we all do..

[windjc]

I for one applaud the idea of James to distribute the bonus payment (if any) to the slack community. I have not yet seen any such similar generosity proposed in any other crypto project.

On the topic of large holders, we are about the break the 1000 asset holders and it looks like were growing very fast atm. There are a lot of asset holders who hold 500 supernet or even 1000 for that matter. The distribution of supernet looks very good imho. The sell wall of 7333 supernet at 444 nxt should be seen as a welcome gift to early adopters because I expect this will sell wall will get eaten fast in the coming month. Why would anyone in their right mind sell such a large amount of supernet for such a low price knowing the prospects as we all do..

The wall is either one of two things- either owned by someone who decided a 100% profit was what they wanted from the investment (they may own a lot more and have decided to sell it off at different preplanned price increments) or, two, a wall that will be moved once price momentum picks up. It only represents less than 1% of assets, so it'll be an attractive buy to someone wanting a larger share with no slippage.

[BadAss.Sx]

The wall is either one of two things- either owned by someone who decided a 100% profit was what they wanted from the investment (they may own a lot more and have decided to sell it off at different preplanned price increments) or, two, a wall that will be moved once price momentum picks up. It only represents less than 1% of assets, so it'll be an attractive buy to someone wanting a larger share with no slippage.

Just a 100% profit taking. Those are his only shares and possibly bought it at 222

[windjc]

I for one applaud the idea of James to distribute the bonus payment (if any) to the slack community. I have not yet seen any such similar generosity proposed in any other crypto project.

On the topic of large holders, we are about the break the 1000 asset holders and it looks like were growing very fast atm. There are a lot of asset holders who hold 500 supernet or even 1000 for that matter. The distribution of supernet looks very good imho. The sell wall of 7333 supernet at 444 nxt should be seen as a welcome gift to early adopters because I expect this will sell wall will get eaten fast in the coming month. Why would anyone in their right mind sell such a large amount of supernet for such a low price knowing the prospects as we all do..

Btw, where do you get your wallet stats/data?

[EtherCoin]

Newbie accounts, please just ignore, move on.

We are very close to the release date for the v1 beta of the client, that is just noise to keep attention away.

Eth.

[buybitcoinscanada]

You were compensated how many 10's of thousands UNITY for those assets? And still more meaningless saying you "gave" them for free or below market value when they are fantastically shallow markets on totally unproven assets.

Where are you getting that he was compensated 10s of thousands of UNITY? From what I remember he exchanged the assets with no strings attached, but also put forth the bonus plan at the time which was voted on by stakeholders and overwhelmingly passed at something like 85-95% Yes votes.

I figured there might eventually be some issues with the wording, so I'm not too surprised that it's coming up. We could really use someone with some law training to make these things more clear and more explicit. But it also doesn't really matter too much at the moment considering it was already voted on by stakeholders and James has decided to share any bonus with people involved with SuperNET now anyway. That is if the conditions can even be met, which is probably not going to happen anyway.

That bolded part is wrong. He received a considerable amout of UNITY for those "assets".

[popolite11]

Newbie accounts, please just ignore, move on.

We are very close to the release date for the v1 beta of the client, that is just noise to keep attention away.

Eth.

Yes as they keep on creating and making useless posts.