Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 216. (Read 736772 times)

Someone does need to write a document explaining more precisely what this is about. I am a seasoned BTC, NXT and asset exchange user, but it took me nearly five hours last night to begin to understand what this is about - and I'm still unclear on A LOT.

I imagine most potential investors are staggered at the amount you are aiming to raise and the moment it becomes clear to them that this is not a normal coin investment, they fuck off - they can't be bothered to wade through all this meandering thread trying to get a grip on it when they can put their money in another, more familiar investment.

I for one am standing back from this one until things become more clear, it's just too vague at the moment.

For those wanting to find out more, I found this to be the most useful document to launch my research from:

http://209.126.70.170/SuperNET.pdf

Maybe I'm missing something but I don't see any "large buy wall" on the AE. Just a buy wall for 1443 shares (which is not much really considering how much has been invested) just over 127. Where is this buy wall you are talking about?

James put a large buy wall up on the AE so that it wouldn't sell out and people could start selling their assets for far more.
At the moment, 129 is possibly slightly high (not 100% sure though), as the NXT price is at a 1-month high and the price is valued in BTC.

Edit: I take it back! BTER price of 0.01044510 BTC / 0.000079 BTC/NXT = 132.2 NXT. So get them while they're cheap.

As a participant, yes - you'll receive a share of any revenues earned from a network of interconnected services. (NB I'm not sure whether MGW is one of them, as James gave away most of those assets.) Yes, SuperNET (symbol UNITY) takes the form of a NXT asset that you can trade on exchanges - initially BTER and the NXT AE, though I'm sure there will be more.
You will also get any capital gains from the coin portfolio increasing in value. (Of course, that could go the other way.) However, you should be protected from any major downside because UNITY is backed by the crypto held. As promising coins with strong tech are added, there should be a strong upside. Look at Boolberry, for example: if SuperNET is a success, I can't see its market cap staying at $700,000 for long. One of the things I like about this is that I don't have to worry about finding the 'next big thing' and investing while its market cap is still 6 figures - SuperNET does that for you to the tune of 10%. Somewhere around there are some reasonable worst-case risk calculations, which I think are estimated at 20% - and that's if various unlikely scenarios occur. To lose everything, Bitcoin and all crypto would have to go to zero.

As a potential investor you can expect to get nothing.

So, I thought the price of entry was supposed to go up each day, but it's only if the asset sells out at the price set? Shouldn't the asset be pulled and set higher than 129 now? Nobody is going to buy the remaining shares at 129 at this pace, there are just too many.

Thanks Cassius.  So as a potential investor in SuperNet, I can expect to make dividends/profit based on secondary services offered through SuperNet, such as MGW, privacy transaction fees, betting revenues, etc..  And my SuperNet share will be in the form of a Nxt Asset that I will hold and that I can trade at any time?  

Thanks for linking this. Gives a decent general overview.

Apologies, the post in question seems to have been removed from OP. It was a simple summary. It can be found at http://nxter.org/supernet-ico-has-started/ but, just for you, I will paste it here.
By the way, it looks like you are doing your due diligence well from the BTCD thread. Good for you.


About SuperNET

http://209.126.70.170/SuperNET.pdf summarises SuperNET
Prospective participants are encouraged to read this brief document in full! Any unanswered questions are likely to be addressed there.

SuperNET is a new initiative designed to:

    Unite disparate cryptocurrencies by fostering collaboration
    Reward innovation, talent and active coin communities
    Share resulting benefits with CORE members and extend advantages to all cryptocurrencies
    Bring value to long-term SuperNET participants

SuperNET will bring together a number of promising cryptocurrencies with strong tech. These CORE currencies will be able to share each others’ features through a combined wallet (based on the NXT wallet). Several additional revenue-generating services will be included in SuperNET, from targeted advertising and transaction fees from anonymity protocols to betting revenues and trading gains. Any revenues raised will be used to reward SuperNET holders, strengthen CORE coin communities by investing in development, and make improvements to other key areas of the cryptocurrency ecosystem.

The price of SuperNET will be backed by its underlying cryptocurrencies. It will aim to acquire 10 percent of those coins it includes in the CORE (currently BTCD and BBR, as well as in investment in NXT-related assets). This means the price is protected from falls as holders are unlikely to sell it for less than the value of these underlying currencies. SuperNET is not a coin and this is unlike any other coin launch held to date. Additional funds will not dilute SuperNET but give it more influence and purchasing power.

The majority of funds provided by participants will be held long-term until they are needed. Additional revenue-generating services are included for free and are not included in the book price – despite offering immediate additional value.

SuperNET is not a cryptocurrency and does not intend to replace any cryptocurrency, including Bitcoin. As the name UNITY suggests, the philosophy of SuperNET is that cryptocurrency will be stronger if we pool resources and share strong tech, instead of assuming the same zero-sum mentality carried over from parts of the fiat economy. Clones and coins that do not offer unique features will not be included in SuperNET.

Also, check these articles:
http://www.coinssource.com/supernets-coin-offering-raises-over-2000-bitcoins-hours/
http://nxter.org/supernet-ico-has-started/

See the links at the top

http://bitcoindark.org

specifically the SuperNET drop down.   Less clutter.

Exactly my point, thank you. Doesn't even have to be in layman terms -- terms that the average bitcoiner like me understands should be sufficient.

Nobody knows exactly what SuperNet is, but it's the next best thing

There's quite a bit of discussion about it, close to 100 pages worth of it in this thread.

Valid concerns.  For many people unfamiliar with Nxt, SuperNet, and James writing, I do think it would be a good idea to have a clear and concise summary as to what SuperNet is and what they are trying to accomplish.  I am very familiar with Nxt and James and I had some difficulty figuring out exactly what SuperNet is.  The OP is filled info on how to invest, and James ideology, but nothing really clear as to what SuperNet is in layman terms.

I found this link in the BTCD thread: http://209.126.70.170/SuperNET.pdf
Does not make much sense to me, but I don't know nothing about NXT.

I am assuming that this is the main SuperNET post. Correct me if I am wrong (not 100% sure if this thread is only for the IPO or also the main thread).

The OP of this thread is a badly formatted mass of vague statements and links and snippets. There is no "summary", at least none that makes any sense at all. There is also no doc linked, or a website.

I don't mean to be impolite; I just don't get what's it all about - hence my original question.

Read the summary in the OP, at least? If not the SuperNET doc (see OP) which tells you, actually, what the quote above does, just in more detail and how it will go about it.

Yeah.

Yeah, that was kinda what I expected of this.

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