Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 281. (Read 736808 times)

exactly!
these are the questions and will depend on each vault.

ok fund security
what is procedures?

to make sure the funds are not lost and available when proper procedures are followed

just question
what is job escrow?

havent heard much about Xapo, hey! its Honk Kong based
and they have $40 mil in funding and looks pretty good.

So the dividing and conquering will work. Some fraction to each "vault", including decentralized trusted users, so even a coordinated multigovt seizure (unlikely) of all the vaults wont be able to shutdown the SuperNET

Need some more Xapos!

James

2% per year???
no thanks
if there is 10000 BTC isnt that 200 BTC per year
I think so, this is too much for not losing the money that is deposited.

I would rather find 100 trustworthy volunteers who each to randomly paired M of N multisig
but this requires finding such 100
and somehow managing all of them

would just be easier to write some code and make a DAC so that the asset holders could vote for the major spendings. I already have the M of 254 shared secret fragmenting/reconstruction working, so it actually might be a decent approach.
I just am hoping somebody else already has a proven solid system we can use

Xapo and Coinbase also have Vault services.

I will, I almost did last night, then my servers ISP lost connection!
so the universe is saying I need to get the SuperNET started
then it will let me finish the Teleport debugging
actually yesterday I did solve the scaling problem, so this is quite a good thing

There is some demand for hearing the hottest news about various things, like what coin will get added next
so from now on I will say just sign up for the newsletter at thesupernet.org
such informations will be sent out via this newsletter

James

UK-based elliptic.co provide insured storage, though it costs a little. Not sure how much as they've changed their terms but I think it used to be 2% per year. They look very professional.

Bter + NXT AE

Hey!  Get back to Teleport coding!  Thank you. 

Due to the expected immense size of SuperNET, and the idiocy of USA rules, I am not sure about the venue. However, I assure you that nothing can stop the SuperNET and a contingency plan is in place. Not ideal for some peoples, but alas I am not able to control the overwhelming powers that the USA has.

So, yes, there is a non-USA possibility and this will make some people happy and some people sad. I have no specific info, just guessing. Ideally we will have a multivenue to offer the most flexible options. So, it is looking likely, near certain that there will be some direct TOKEN available on the NXT AE.

I await the word from poloniex and so this is just raising the possibility of a non-USA venue.

Now, I am asking about the bitgo and maybe other escrow places to safekeep the funds. One idea I had was to distribute the escrow across many known escrow peoples, but not sure if we can find 100 of such people. managing so many will be quite a challenge and that is before throwing in multisig

So, what is before some theoretical thing could become some quite real and important thing.
I just had simple idea. What if the large SuperNET stake holders are providing the escrow for a similar amount.
so if someone is putting in 100 BTC, then they of course get the 100 BTC of SuperNET, but they are also responsible for 100 BTC worth of escrow. One problem is what if they sell all the SuperNET and then now have no incentive to honor the escrow...
so maybe this is not so good an idea

I am looking for a solution on how to safekeep 10000+ BTC
until we know how much will come in, we dont even know the exact problem
I certainly do not want to be the one having direct access to so much!
I am sure we will have many volunteers to hold these funds

So, if the USA companies are maybe at some risk, and non-USA companies are maybe not so big and reliable, we are facing some bad choices. There is the time to solve this and I am hoping someone in the community has some good experience with this.

James

Correction about TOKEN volumes.

I must have been too tired to use the 1000 TOKEN with 5000 max, this is projecting to be much higher than realistic, though for the first hours (or day) it might actually be about right. So the amount available per minute and the max will adjust as the volumes are changing so as to avoid it always being empty or always at the max.

Will try to keep it balanced in the middle but it will probably just be an occasional tweaking, so no guarantees, just wanted to post the clarification on the volumes

James

I work for food and lattes

I have and its pretty good

I have been trying to build a similar service with some improvements but the going rates for anything bitcoin dev has been atrocious. No offense

Ah ok. That association clarified in the doc is fine IMHO it would amount to betting the house on SuperNet but then lets see how this works out.

has anyone ever used bitgo?

Oops, sorry about that.  My bad.
James - email sent with updated version.

it is possible, but not sure yet