I just voted to approve. James, I think you're safe.
Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 164. (Read 736772 times)
September 23, 2014, 09:50:26 PM
I just voted to approve. James, I think you're safe.
September 23, 2014, 09:31:24 PM
the funding will continue for 2 more days
Could you name the exact end time/day when the ICO finishes.
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
September 23, 2014, 08:22:31 PM
the funding will continue for 2 more days
Could you name the exact end time/day when the ICO finishes.
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
September 23, 2014, 06:37:53 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!
September 23, 2014, 06:20:06 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
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
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 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
September 23, 2014, 06:12:23 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
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
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.
September 23, 2014, 06:06:21 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
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
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
Okay, I guess it's just a matter of semantics now. When you said "entire operating budget", I thought you meant to include everything. I'm probably jumping the gun on all these questions as I'm sure there will be a paper/report outlining all the details of the funding involved.
Perhaps I'll just shut up now like everyone else and come back in a few months when UNITY is worth much more
September 23, 2014, 05:57:48 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
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
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
September 23, 2014, 05:51:49 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
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
September 23, 2014, 05:49:12 PM
How to check the voting results?
https://bter.com/article/3023 for the bter portionnot sure what the NXT is up to, but it could be close to 235000 Approve total, not sure
valarmg has been posting interim results
September 23, 2014, 05:46:45 PM
for example, let us assume in a few months a chance to buy 10% of a top10 coin arises. Then this extra 10% could be used for such a swap. Not that all of this will be used for one deal, just an example.
At that point, there would be an extra 10% dilution, but keep in mind there is now 10% worth of this top10 currency
-10% + 10% = 0%
so it doesnt change the value of each of the other UNITY assets
at least at the instant this happens
The goal of course is to create some positive effect from the working capital, so if that works then by doing the deal (only possible with the working capital) it would increase the value of all the UNITY assets.
So as long as the working capital is getting 1:1 value, then it is a neutral effect. If every working capital UNITY is used to get more than it cost, then all existing UNITY holders will benefit.
James
Ok. That makes sense, but then I thought the point of collecting the NXT and BTC for the IPO was to use for adding new coins to the core. Isn't that considered working capital? Buying coinx with BTC will get us a 1:1 value as well, without flooding the market with 10% more UNITY.
What type of guidelines or process will be used to make purchasing decisions like this?
the main use for working capital would be to pay for contractors, bounties and other things like that, just a catchall category for expenses.
for anything big, I would post it here. If there is a big controversy over it, then I will certainly listen to feedback
there are times where I need to make some quick decisions, so I think it is good that I have some discretion for doing things like that without needing any sort of elaborate process.
As the largest UNITY holder (I think I would be) it is in my interest to spend it wisely and I currently dont intend to tap into it for a while, certainly not at current low prices!
James
I have the same concern as UNO_owner. I thought the BTC (and equivalent) raised in the ICO will be used for all the things you mentioned AND to buy 10% of coins joining the core. So it's actually part of the 10% of UNITY that will be used to buy the 10% of those coins?
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
September 23, 2014, 05:41:31 PM
for example, let us assume in a few months a chance to buy 10% of a top10 coin arises. Then this extra 10% could be used for such a swap. Not that all of this will be used for one deal, just an example.
At that point, there would be an extra 10% dilution, but keep in mind there is now 10% worth of this top10 currency
-10% + 10% = 0%
so it doesnt change the value of each of the other UNITY assets
at least at the instant this happens
The goal of course is to create some positive effect from the working capital, so if that works then by doing the deal (only possible with the working capital) it would increase the value of all the UNITY assets.
So as long as the working capital is getting 1:1 value, then it is a neutral effect. If every working capital UNITY is used to get more than it cost, then all existing UNITY holders will benefit.
James
Ok. That makes sense, but then I thought the point of collecting the NXT and BTC for the IPO was to use for adding new coins to the core. Isn't that considered working capital? Buying coinx with BTC will get us a 1:1 value as well, without flooding the market with 10% more UNITY.
What type of guidelines or process will be used to make purchasing decisions like this?
the main use for working capital would be to pay for contractors, bounties and other things like that, just a catchall category for expenses.
for anything big, I would post it here. If there is a big controversy over it, then I will certainly listen to feedback
there are times where I need to make some quick decisions, so I think it is good that I have some discretion for doing things like that without needing any sort of elaborate process.
As the largest UNITY holder (I think I would be) it is in my interest to spend it wisely and I currently dont intend to tap into it for a while, certainly not at current low prices!
James
I have the same concern as UNO_owner. I thought the BTC (and equivalent) raised in the ICO will be used for all the things you mentioned AND to buy 10% of coins joining the core. So it's actually part of the 10% of UNITY that will be used to buy the 10% of those coins?
September 23, 2014, 05:38:28 PM
Any idea why the price is exploding on AE when we are not suppose to be trading TOKEN until it changes over to UNITY? AE id 2.00usd higher than BTR??
Welcome to the free market. It's now a scarce resource. Supply and demand.
September 23, 2014, 05:35:17 PM
Any idea why the price is exploding on AE when we are not suppose to be trading TOKEN until it changes over to UNITY? AE is 2.00usd higher than BTR?? 
September 23, 2014, 05:30:50 PM
Alright James, thanks.
I for one can say that I'd like to see that 10% never leave SuperNET. Or at least, not until the valuation is many orders of magnitude higher and we can buy entire companies with it.
I for one can say that I'd like to see that 10% never leave SuperNET. Or at least, not until the valuation is many orders of magnitude higher and we can buy entire companies with it.
September 23, 2014, 05:25:11 PM
for example, let us assume in a few months a chance to buy 10% of a top10 coin arises. Then this extra 10% could be used for such a swap. Not that all of this will be used for one deal, just an example.
At that point, there would be an extra 10% dilution, but keep in mind there is now 10% worth of this top10 currency
-10% + 10% = 0%
so it doesnt change the value of each of the other UNITY assets
at least at the instant this happens
The goal of course is to create some positive effect from the working capital, so if that works then by doing the deal (only possible with the working capital) it would increase the value of all the UNITY assets.
So as long as the working capital is getting 1:1 value, then it is a neutral effect. If every working capital UNITY is used to get more than it cost, then all existing UNITY holders will benefit.
James
Ok. That makes sense, but then I thought the point of collecting the NXT and BTC for the IPO was to use for adding new coins to the core. Isn't that considered working capital? Buying coinx with BTC will get us a 1:1 value as well, without flooding the market with 10% more UNITY.
What type of guidelines or process will be used to make purchasing decisions like this?
the main use for working capital would be to pay for contractors, bounties and other things like that, just a catchall category for expenses.
for anything big, I would post it here. If there is a big controversy over it, then I will certainly listen to feedback
there are times where I need to make some quick decisions, so I think it is good that I have some discretion for doing things like that without needing any sort of elaborate process.
As the largest UNITY holder (I think I would be) it is in my interest to spend it wisely and I currently dont intend to tap into it for a while, certainly not at current low prices!
James
September 23, 2014, 05:20:37 PM
for example, let us assume in a few months a chance to buy 10% of a top10 coin arises. Then this extra 10% could be used for such a swap. Not that all of this will be used for one deal, just an example.
At that point, there would be an extra 10% dilution, but keep in mind there is now 10% worth of this top10 currency
-10% + 10% = 0%
so it doesnt change the value of each of the other UNITY assets
at least at the instant this happens
The goal of course is to create some positive effect from the working capital, so if that works then by doing the deal (only possible with the working capital) it would increase the value of all the UNITY assets.
So as long as the working capital is getting 1:1 value, then it is a neutral effect. If every working capital UNITY is used to get more than it cost, then all existing UNITY holders will benefit.
James
Ok. That makes sense, but then I thought the point of collecting the NXT and BTC for the IPO was to use for adding new coins to the core. Isn't that considered working capital? Buying coinx with BTC will get us a 1:1 value as well, without flooding the market with 10% more UNITY.
What type of guidelines or process will be used to make purchasing decisions like this?
September 23, 2014, 05:04:28 PM
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.
This is why it is called NAV (net asset value), for adjustments like this.
just think of it this way. if UNITY value goes up, SuperNET holds 20% of UNITY, so the 20% dilution caused by this is offset by the 20% gain.
James
Can your or someone explain why SuperNET is going to be holding 10%? You say this amount is not dilutive and should not be considered when calculating value per UNITY, but that only makes sense if it will always be held by SuperNET - and if that is the case, I don't understand the purpose for it to exist in the first place. You say working capital as if it will be sold when needed.
At that point, there would be an extra 10% dilution, but keep in mind there is now 10% worth of this top10 currency
-10% + 10% = 0%
so it doesnt change the value of each of the other UNITY assets
at least at the instant this happens
The goal of course is to create some positive effect from the working capital, so if that works then by doing the deal (only possible with the working capital) it would increase the value of all the UNITY assets.
So as long as the working capital is getting 1:1 value, then it is a neutral effect. If every working capital UNITY is used to get more than it cost, then all existing UNITY holders will benefit.
James
September 23, 2014, 05:00:28 PM
10% in addition to the 10% he would get anyway.
Okay, got it, so a maximum of 20% of total UNITY will go to James if bonus conditions are met.
September 23, 2014, 04:56:27 PM
10% in addition to the 10% he would get anyway.
Okay, got it, so a maximum of 20% of total UNITY will go to James if bonus conditions are met.
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