Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 226. (Read 736808 times)

How does a coin get added?

It doesn't hurt that much, really. Funny...I spent a full day doing the due diligence for this project, until I was privately satisfied, but I only threw ~two hundred and fifty bucks into it.

Okay, I'm going to step in at this point. Granted that I'm not that skilled tech-wise, but I do have a double life that includes some familiarity with the basic mechanics of publicly-traded companies.

What James is implementing, in part, has been a standard corporate reorganization technique for - at the minimum - ninety years. In part, the UNITY asset is analogous to a holding company.


[Note: I used "analogous to" because I'd rather not play a securities lawyer on the Internet.]

@trythisnow: I'm a little like you in that I earlier played auditor on the Internet, although under circumstances that were a lot more pressing than yours a/o the here & now. If you must play auditor, would it hurt too much if you took a day to bone up on how things are done by the real thing?

EDIT: @trythisnow: Thanks a lot for calming down!

is there or will there be place where we can see some updates on amount of BTC collected and Tokens sold regularly?
Would be cool.

there does seem to be some sort of organized campaign to create troubles for all of crypto.
let us think who can benefit from the problems of all the altcoins

I am assuming there were no remaining issues with the first two parts, let me know if I missed a remaining question.
First of all the "book value" of the operating assets are not anything that is reported and used for valuations, at least I havent done that for the operating assets. The sharkfund0 and JLH are holding assets, so the book value is all that matters. So, unlike in the real world where operating company valuations are reported using book value multiples as one component and to artificially inflate this would fraudulently inflate the valuation, with my assets this is not the case. I might have mentioned a few times that XYZ asset has X million NXT, which is a "cash" value of X per share. But I dont remember ever saying any of the operating assets has a book value of X million NXT from all these assets and so the operating asset is worth M*X.

That being said I am usually issuing assets at different times and I am never doing any false trading of the assets. I do as I have written before spontaneously buy underpriced assets, mine or any others, but these are real tradings and since trading is one of my skills and I seem to be somewhat proficient, I feel it is an acceptable use of operating asset capital, especially when I am not having any fixed overheads and there is plenty of cash for the minimal needs. In any case, I still have the assets purchased and they are less liquid than NXT itself, but with the minimal cash needs I cold always just sell of bits and pieces as needed. So I am viewing these tradings like moving funds from a checking account to savings account or certificate of deposit. Varying levels of liquidity and income. I hope this is not getting me in to trouble.

Basically I make asset trades to make more money directly from trading and not for market manipulating. One way to think about it is that since I am often involved in pretty much most of the significant developments in the NXT universe, I have essentially insider info, but I do not believe there is any prohibition even in the real world from using knowledge you rightfully gained to make trading profits. So, now you have successfully interrogated me to get part of my secret on how I am almost always right with my tradings. Again I hope to not be in trouble for this, my only excuse is when I am having the knowledge that coinomat is going to double, how can I not just buy 1 million of them. Maybe I should let others to buy this, and usually I am announcing the inside info I have and waiting for some time to give others a chance to get the info and act on it. If after some time, an hour or so, it is still there, I grab it. I am sure that there are some cases where I did not have the discipline to announce and wait before I buy. I am guilty of this.

NSC is sent to me by the girl whose "proposal" saved the 50 million stolen NXT! this is just a reward for running servers and is sent automatically. the JLH in InstantDEX came from the cleanup process I described to you earlier and also before the start of funding. Over the months my tradings described above had made somewhat of a mess inside some of the assets and to untangle them and make it easier to understand, I did marketrate swaps from my personal account. The JLH in InstantDEX was from this housecleaning. Since the core assets are all moving inside of SuperNET, the whole linkage thing is not meaningful and I ended up scrambling some of it with my tradings. I felt it was best to get them as streamlined as possible give the constraints of marketrate swaps. The problem is that I spent all my NXT buying assets mostly other people's assets. I am pretty sure that I have purchase more assets than everybody else combined (excepting the mgwCOIN assets), so all of the NXT that I have made are reinvested into the NXT communities other asset holders. If you look at my history and the top assets that are not mine, you will find that most likely I am one of the biggest asset holders.

so, think of these assets in the operating assets as common stock owned in the company's treasury acct. I am sure many real world companies have brokerage accounts where they own some stocks.  It just happens that since the majority of trading volume on the NXT AE are with my assets, and I actively trade assets, my assets have my assets.

not as much as before, but there are still links based on the current holdings. The JLH is horizontal asset and it include over two dozen assets and of course a lot of them are mine. The sharkfund0 asset is tuned to reflect Teleport, think of it as a sector fund. NXTprivacy owns the majority of Privatebet and 30% of cryptocard. Privatebet will own the NXTventure incubated assets as I have described in this thread.

The InstantDEX does not have ownership linkages, but it does have revenue sharing linkages. Half of its revenues are going to assetholders and the other half are shared among various parties, such as MGW, Tradebots (aka NXTcoinsco triple share), BTCD stakers, uMGW operators, and some unallocated revenues that I plan to use top optimize positive feedbacks. Currently i am thinking of providing global revenue sharing to all the SuperNET users for most of the balance. I figure getting this revenue flow would be more effective than any sort of advertising campaign, but I need to see how things unfold.

Tradebots (its actually called NXTcoinsco but I cant rename it) will be doing revenue sharing of its own. Writers of tradebots will be earning some fees, some of these tradebots will be designed for automated trading, like the Metatrader expert advisers. Unlike the traditional bot where you pay $100 or $1000 or more, these tradebots you only pay with a percentage of profits. This allows autotrading on a pay for performance basis and I think this industry is badly in need for this as most products are backtested fantastically, but their realtime performance is of course much worse and possible harmful. But with the money upfront and burdensome refund policies, well there is only incentive for a compelling direct response website to get the order. With my plan the incentive is only to make profitable bots and this I am hoping will let investors experiment with bots that the author is actually caring that it works. [I plan to be one of these authors as I spent 6+ years working on an SVM based automated realtime forex trading system. In my backtests, I can get 98%+, but with realtime 85% is about as good as I have achieved at the raw data. I was just getting very promising results in November of last year after so many years. Then I discovered crypto and this project is on hold but halfway ported into Tradebots]

If you have any specific questions, please ask them,  you are quite clever with asking short uncapped questions that this must be your revenge for my forcing you to read the whole thread

I plan on not getting killed for at least 6 months. Let us accept that if I am "disappeared", this will be a setback to the project. However, with "worst case" risk of 20% and the source being open and my copious postings, I am sure within 6 months all my projects will be on track, so the tech risk of me being gone is a six month delay. I will not speculate on the impact of theoretical competition during my theoretical disappearance. I have found it pointless to combine hypotheticals when planning for the unlikely event and the unknowable nature. I hope that is ok.

My goal is to get obsolete within 6 months. It might take longer, depends on how quickly we can staff up. So the investors must risk their money on my not being disappeared. This is why I am anon, there are both legal and extra legal pressures that can be applied to a known person. I prefer to protect myself and the investors with anon status and to be very careful around buses. In anycase, I know that investors money is very important, but keep in mind in these scenarios I am most likely dead, so this is a much bigger problem for me than a 6 month delay.

I thought I answered this. The trustees are obligated to follow the "charter" of the SuperNET, basically the allowed expenses that I outline in the PDF and the posts prior to initial funding. so the 10% bankroll for the supertraders, the NXTventure fundings for investments, and of course the tradings to get the advantaged investments from the new coins. These are not so frequent events and the NXT community is coming up with proposed standards of conduct, even an Oath for the trustees. The current thinking is that all the trustees would analyze a request for funding, then evaluate if it is within the charter and then if the majority of trustees approve it, then one of them is selected with a notice of approval. Then the approver approves it to make sure there is no double spending and some checks and balances against alien mind control and morphing into a monkey.

So, there is a proposer (probably me at first) -> trustees -> selected trustee (or denied) -> approver -> payment sent
The list of trustees is being nominated and selected, so I dont know who they are and I do not want to be involve in this process as I already have too much influences just by being the proposer. We have not even started on selecting the approver. This person's job is primarily to detect alien mind control, so as long as it is a person who has good judgement that there is no funny business going on with the entire rest of the payment process, then we are good.

Separately there is the voting of the asset holders, it is described in details, so I wont repeat it here.


I apologize for mistrusting you. It turns out you have asked what are probably the best questions about SuperNET of anybody.

Thank you!

James

how much btc collected?

many thanks James for the explanation, one thing I would like to know, I see troll everywhere. Where are they coming from, I am not talking about the trolls that talk bad or good of a coin just to bring the value up or down to make some money, I am talking about the Virus Trolls one is installed in a forum it does not leave and day after day attack the owner of the coin and the coin itself? why...its like he want to destroy the coin...does it do for pleasure? or someone pay him/her? Are big tycoon people involved so crypto does not take over big finantial intitutions like banks etc...who are these awfull trolls?  it seems there is always one troll dedicated in each forum to destroy the coin, Are all these trolls paid by banks, Secret Police, Goverments etc  who are day?

OK, well it was me posting there, so I can confirm I am helping them. I explained this yesterday, but probably got lost in the blizzard.

I will summarize the key points. About a month ago I was contacted by drkman who asked for my help with VRC. They had undergone some externally caused issues and it didnt seem right that an entire community had to suffer and the atmosphere became toxic with three regular trolls just chasing everybody out.

Anyway, VRC is much bigger than BBR and I couldnt afford to just buy a big chunk, so I came up with an option arrangment where we set the price before the deal is announced and if the price goes to ATH (5x) I can buy half and if 10x I can buy all of the VRC in escrow. This is somewhat similar to SuperNET structure, but I realized the problems with the options approach as it is harder to understand, there are all these different triggers and it just is complicated to setup.

Now this is a big step and I required confidentiality as I did not want my name being thrown around a possible deal as is was far from a sure thing. The VRC devs did a perfect job in keeping silent, in spite of an ongoing and violent debate about dev4. That is how they called me, but I was too busy with other things, so I wasnt aware of the dev4 turmoil in VRC. Without being able to reveal details it became clear that there was no way that the community would be able to come to an agreement and things were looking quite bleak. A real long shot.

Last Saturday, I had three hours before the start of funding and I was in no condition to code, so I decided it was a good time to get closure on the VRC commitment I made. A critical part of the deal was that I would personally create unique tech for VRC. With the countdown timer ticking down I went into IRC (full log available on VRC thread) and for an hour wasnt able to complete a sentence due to the buy4crypto troll who is in the category of psycho troll. Truly believes what he is saying and just wont stop, believing that if he keeps repeating himself, people will believe him. So, I had no time or mood for being called all these names when I am trying to help, I said mute him or I cant do this. They muted him. In half an hour that was left (I had to keep stepping away to escape the troll attack) I quickly outlined my plan for VRC. Basically get rid of the toxic trolls via shunning if necessary, integrate 2.0 crypto tech with the reskinned GUI, etc. Along with some powerful market positioning and some possibilities for the future tech I was thinking of.

Within half an hour after the troll was muted, there was near unanimous approval of pursuing the deal. Certainly some hesitation and skepticism, but the first milestone I asked for was for the community to put into escrow 500K VRC, that is 2% of all VRC. In NXT terms that is 20 million NXT. I gave them 24 hours. This was a very steep demand, but with the true number at 10%, it is only just the first step. I knew that there is no way for any 10% to go into escrow for a year, especially since I made it clear I cant start coding until I am done with the current set of projects. so this puts it around 6 months out.

I wasnt doing it for the money. I needed to see if the community was broken or if it was just injured. I also wanted to see what happened before they all found out about the big money coming into SuperNET. Now they are clear that VRC has to earn its way into the core, but there are other ways to help the SuperNET and all these details are there for the studious to make some homeworks and investment decision.

Then the fund raising started and we all know the mess, the cleanup and I collapsed.

Today I discover that the VRC peoples managed to raise the 2%! And the mood and atmosphere was electric. Just super charged. It was very nice to see. Then the psychotroll comes back and again the same old thing, jl777 is evil, he kicks snot kittens, blah, blah blah. Most of the VRC camp are just ignoring him, but he escalates and now claims that during my discussions with the VRC devs, I must have found out about some email he wrote them that talked about some coins cooperating and that I stole the idea for SuperNET from him. The reason he had to resort to this level of nonsense is that earlier, before the return of psychotroll, I had unilaterally changed the terms of the deal!

Now I usually dont do this as I am a man of my word, but I do make exceptions. My general rule is that if you are making the deal better for the other side, then it is ok to change. This is common sense. So, wanting to show the VRC people that they can do anything, I made it possible for them to raise the 10%. Now the requirement is for 10% to be put into escrow from everybody but if somebody doesnt want to, all they have to do is post saying they are a freeloader and dont want to put anything in, even though everybody else is putting in 10%. This way, we get either 10% or at least 10% accounted for. So, this way the entire community comes together, but of course all of you are saying, wow, pretty clever way to get 10%.

I know that if I am to be benefiting from this personally (this deal predates any SuperNET so it is all a personal deal), there is no way for the community to agree to any such thing, regardless if it is risk free. So I donated all the proceeds from the escrow to the VRC community, full well knowing in the success scenario it meant a $1 million USD grant. Now people started to believe I really am not doing this for the money. There was already 2% of VRC in the fund to me personally with the 5x and 10x triggers, so this is very likely real money. For anybody that is wondering why VRC is up 80% in the last 24 hours, this is the reason, it went up 30% as soon as I entered the IRC and is holding steady 80% higher, so now it is 2.5x and 5x for the triggers.

That is why the troll had to go into fantasy scenarios about my stealing the idea from him (he is not even a coder)

So that is how I spent the time right before the start of the funding

James

P.S. tl:dr VRC is a 6 month personal project of mine and to find out the implications about SuperNET some homeworks is required. I do not like that people are just blindly buying any coin I mention. So, I am not spending coding energy on VRC until after all the current SuperNET and BTCD projects are done, but I will be offering some small advices for VRC devs and community and I will happily vaporize the trolls that dare enter. VRC thread is now a no troll zone, just like the BTCD thread and this one.

I wonder if there is any chance of LibrexCoin getting added to the SuperNET...

Sorry for the noob question in advance, never used the AE before.

I have nxt in my nxt account and I am looking to get involved with supernet - I am buying this asset right? 15641806960898178066

Thanks in advance.

(cutting down on the quotes)

Well, the clarification in the first reply about the accounts would have been enough. But instead we have to go back and forth with this and the whole "accusing" thing. You, yourself wasn't sure of the transfers and took like 2 posts to reveal the BTCD explanation. In any case, the explanation is fair and I apologise.


Nope the part which was corrected (and to show you I am reading through the thread ) which read something along the lines that SuperNet had already acquired 10% of BBR. The correction was to include "10% BBR acquired via sharkfund0". Again I am not worried about roundings or which way they fell, rather the "holding pattern". Can you buy 10% BBR? yes. Do you have 10% BBR? No. Is it required? I don't know. Am I aware of the NXTshark account? Yes, because that is the issuing account.



your problem is that I am using "ponzi", let me rephrase the question (its not an accusation but again....)

1. You issue an asset a1 with 10k NXT initial price
2. Then you issue an asset a2 with 5k NXT initial price.

You buy into the 1st asset, valid/invalid market rates, doesn't matter. In this way, you:
a. prop up asset a1 by increasing the market trading and shareholding pattern
b. increase book value of a2 by bringing in assets worth X2 the a2 asset

Have you done something like this? Cause I see Instadex (NXT-74VC-NKPE-RYCA-5LMPT, correct me if I am wrong) holds - NSC and jl777hodl, even when its not supposed to be a fund?

So how are your assets are linked to each other?


Thanks for clarifying that. Though as I already said, contingency was not only about flight risk but also about IRL issues. A leaderless project doesn't do well. So again let me ask you nicely - What is the contingency plan in case there are issues - seen or unforeseen between the project? You might think crypto space is separate from fiat space but you also must be knowing how soon things fall apart here.

James, again the question is what are the terms for releasing the escrow? How would one decide if the need is justified or not (yes I know you hold 1600 BTC now and have not run away with it) ? Specially considering I have seen escrowers who deal in bad faith and yourself are a known name in the community? Again this is not an accusation but rather a concern? Do you think its a valid one? IF common sense is all there to it, then lets drop it.

That all said, I do appreciate you answering my posts patiently. As I have already stated I am not buying the IPO, for stated and unstated reasons. Though your persistence in answering my posts personally has won me over.

Thank you!

fantastic summary!
thanks, this will help explain the big picture to people

that's my brother's handle

haha good one : -)

After a full weekender and allnighter, Coins Source exclusively reporting about SuperNET:

http://www.coinssource.com/supernets-coin-offering-raises-over-2000-bitcoins-hours/

 

pls retweet:
https://twitter.com/CoinsSource/status/508694921243398144

pls upvote:
http://www.reddit.com/r/CryptoCurrency/comments/2fqo86/supernets_coin_offering_raises_over_2000_bitcoins/

My ears are burning
trythisnow: this misunderstanding (let's be charitable and call it that, shall we?) is possibly due to my own misunderstanding. This was a point we corrected once already because I made a mistake.
If this hasn't been resolved to the extent you require, please let me know the form of words that you would like to see at that point in the document. It is possible that I continue to misunderstand the point in question and your clarification would be helpful - if you are genuinely interested in helping to clarify this.
No need to answer if not.

yes James I did read and all talking about it, but you know how many trolls are around you don't know sometimes what to believe so I just wanted confirmation, that's all, I know you need to use common sense, but some troils are extremely clever, as you said tomorrow lots of trolls will attack you tomorrow, so will be full of lies so do I need to read pages of lies to know is true or no, I need to confirm with the main developer, I hope I make sense if not I apologies

Parano is it true that you didnt read the three pages following that link?

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