Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 215. (Read 736772 times)

When NXT first cam out it was criticized by some people too but look where it is now.Who knows SuperNet could be the next big thing.

I think he's trying to say isn't there a potential conflict of interest there? 

isnt that some kind of insider scamming if u have a coins dude participating in dem supernetz on ur trustee board?

~CfA~

crypto_zoidberg has agreed to be on of the Trustees

James

SUPERJAMES !!!!!

how many lattes did u have to day man. do u like muffins too ?

~CfA~

except there is no quarterly fee
and there are the revenues generated from the user base
and the advertising inventory that is sold to websites
and the NXTventure incubating of income producing casino game asset companies
and the SuperTraders who are managing 1000 BTC 7x24 using a hybrid team/individual approach
and whatever other good ideas are approved by the SuperNET owners

If it is not clear to people, this is my fault. I will try to summarize. SuperNET is like an integrated financial/software/advertising company with a clear plan for growing the userbase and ways to monetize this userbase. Without fixed overhead. All the potential of this operating company is available at close to book value. When trading starts there will be a buywall at NAV to provide liquidity.

At current pace, we are at the low ends of the expected funding, but still enough to be doing quite well. My concern is that 10% cap of my contribution will limit the core assets that SuperNET has, which reduces some of its revenue potential. this can always be corrected by voting to approve increasing this 10% cap. What I am saying is that even at current levels getting more funds is going to increase the value per asset.

We are still in the antidilutive stage for additional funding. The more funding comes in the less risk as it will have more "weight", and since the expected revenue per asset is growing during the antidilutive stage, more funding is an advantage to all the investors. At the 5000 BTC level, then this is not optimum to have 500 BTC for the SuperTraders and 500BTC of core assets. So I would suggest boosting these ratios, but this will increase the theoretical worst case scenarios. Due to this, the decision will be up to the assetholders as to the desired funding level for the core assets. The SuperTraders can certainly start with the 500 BTC bankroll. One solution is for the assetholders to authorize to have some unsold assets.

For example, we can approve the issuing of 10% more assets than was sold. This would not actually be a dilution as it would be in the SuperNET acct and would only be spent to increase the value of SuperNET. This can then be used for working capital or investments. Protections from hurting the market price will of course need to be specified. I think it will be best to hold these votings after the close of funding and before the official SuperNET asset is created.

If anybody has any other ideas for voting, just post. The specifics will all depend on how much is raised, so I cannot know the exact things to propose, but the questions of the amount of core assets and whether to have some extra assets that can be used to raise working capital are ones that I feel are important to address before trading begins.

James

I agree.

It is a great summary 

I think a wallet is in the works. If we could get screenshots of the GUI, or a mock-up, that would be quite a powerful marketing tool combined with a case study like Este Nuno's example.
Whale was working on it, but I don't know whether he's GUI. Anyone know?

Amazing post Este Nuno, you leave my face like  

I hope you are right and SuperNet will work in this awesome way!

BTW, you (we) should spread your post in other altcoin threads to show how awesome SuperNet could be!  

Nice one Este Nuno : -)

mini extension on EsteNuno's post, marking is itself to be integrated with identifi so it's trust+reputation

To people wondering what superNET is I'll write a little description of how I expect it to be from the perspective of if I was actually using it. Hopefully jl777 or anyone else can correct any inaccuracies.

---

I load up my BitcoinDark wallet as I would normally, I have 1000 BTCD waiting for me as I expected. There's an extra button or tab that says 'enter superNET' on it. I have a few things I want to do today that take advantage of the superNET so I click on it. A separate GUI launches. I see a few different options, but the first thing I want to do is send a secure anonymous payment using the current best available anonyimity system, which happens to be integrated in Boolberry(BBR). Since anonymity is very important for this specific payment I'm making, I use the superNET GUI to create a transaction that will take advantage of James' Teleport technology which will enable me to send BBR with my BTCD without leaving my wallet. So I want to send 100 BTCD worth of BBR to the address of my choice, and I do so by creating this transaction in the superNET GUI in a way similar to sending any other standard crypto transaction. The 100 BTCD is automatically converted to BBR at market rate minus a small fee, which I'm more than willing to pay in this case to guarantee my anonymity.

So after I've finished my important business of sending that anonymous transaction, I take a look at the superNET GUI to see what's on offer today. I have the ability to purchase NXT assets directly through my BTCD wallet with BTCD. I notice that today there are some featured assets being displayed on my GUI(that the asset issuers pay a fee to superNET for to have listed as 'featured'). One of the assets I can purchase is tokens that correspond to one oz of silver. I had been meaning to to pick up some silver anyway, since I noticed the price was particularly low recently, so this is very convenient for me. I look in to the asset to make sure that each token you purchase through this NXT asset can be redeemed for one oz of real silver, and indeed they can be. Perfect. So now I have the question of trust, what is the reputation of this person issuing the silver asset? Are they known to be trustworthy? Luckily for me superNET has integrated Bitmark's 'marking' reputation system that will help me gauge whether or not the person issuing the asset can be trusted. Turns out this person has a lot of marks, so I'm pretty confident that I'll be able to redeem my silver tokens for real silver through the asset issuer. So I go ahead and make a few clicks and decide to purchase 50 BTCD worth of silver tokens thanks to James' MGW technology as well as his InstantDEX technology. I finish the transaction and in a few seconds I'm the owner of 50 BTCD worth of silver tokens that were purchased off the NXT distributed asset exchange.

Now that I've done the business I've set out to do I take a look at the superNET GUI once again and I see a link for PrivateBet. Feeling a bit lucky and still having 850 BTCD sitting in my wallet, I decide to try my luck for a little while to entertain myself. I gamble anonymously for a while with my BTCD. People who invested gain from my negative expectation bets while I'm entertained for a while.

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Ok, so that was just a small example of how I see superNET working in the not too distant future. Each wallet of each currency that is part of the superNET will all be able to access and take advantage of all of these features from a single GUI that connects thousands of resources in to a single point of access(the superNET GUI).

This is why I think the superNET is an awesome idea and I think it has the potential to really bring a lot quality alternative currencies together in a way that benefits everyone. 

I am in coding mode today, so if I missed any questions, please dont be offended. you can repost if needed

this is correct.

As the NAV changes the bid will be adjusted, but probably not in realtime, so it wont always be the exact NAV. Due to the mixture of crypto (and even some fiat) of the portfolio, the NAV should be more stable than any single crypto.

The important thing is that liquidity will be provided fro those that need to cashout. SuperNET is asset backed, so this is not a problem. If the orderbook doesnt have enough volume, just PM me and I will work something out

James

SuperNet is identical to a hedge fund ETF in the stockmarket world. 

An ETF holds assets, usually commodities or stock, from similar industries, using the investor funds to acquire more.  The ETFs earn income from user fees, which are deducted from the inventory every quarter.  Common ETFs include physical gold, silver, oil, and DowJones100s. 

Sorry. Sell wall, of course.

Yes, he mis-spoke. The Asset Issuer account (jame's or perhaps an account he created for this) has a large Sell wall of just less than 1million tokens at 129 NXT. This is to prevent noob investors from paying too much if he 1000 unit sells sell out quickly. The current 1000 unit sell is at 128.44 NXT.

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After the IPO is done, James said he will put a large buy at NAV. I assume this means Net Asset Value which means to me the liquidation value of all the underlying assets help divided by the number of superNET shares. (He can correct me if I mis-spoke here.)

I would like to apply for the position of approver, really excited to see the birth of a unified network.

Did you read www.nxter.org/supernet-ico-has-started/ ??
If so, I'd like to know what concerns it leaves for you (inasmuch as a short doc can satisfy your curiosity, of course) as it may be that you're right and other potential investors want more too.

NXT Asset exchange: 991,327 for sale at 129. There are a few for sale below that - some folks arbing or selling for a slight loss.
On BTER, the amount will change as it's regularly updated.