Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 289. (Read 736775 times)

I like Poloniex for this.

Two questions (I don't think these have been answered already):
1) What if everyone invests on day 1 and gets a 15% discount? Who pays for it? (Unlikely but it's reasonable that a large proportion of money will come in on day 1 and less and less after that).
2) Will a proportion of revenue be retained by SuperNET to fund future coin purchases?

precious metal backed multisig protected crypto is one of my projects for next year

fiat world depression is unfortunately inevitable. USD devaluation will affect all major currencies except CNY and maybe ruble as they are making for non-USD denominations in their major dealings. Also China is like one dozen Japans all in an internal economy with only one of them outward facing. China will do just fine in a global depression, in fact they will be the ones to benefit the most. I have most my fiat in CNY for this reason, not that I have much fiat at all

Will USA have the political will to sell of 10 trillion USD worth of its assets? I think this would be the vast amounts of land it has. GrandCanyon to Disney, etc. this I think is not so politically possible. So the easier way is to just do the "takings". They have already started this some years ago to set the precedent that if a piece of land is better serving the public, then it should be owned by the public and thus the private ownership is stripped. Now maybe some token amount is paid, not sure of details.

to me this is the setting up of this precious precedent. So, now when USA is running out of money, it is of course to use this precedent of takings that is now many years standing as the base to start applying eminent domain to more than just land. Imagine if the politicos change the law for eminent domain to allow takings for "land or any other asset" or some such general language.

Then using this new law and the precedents of the hundreds of takings (I think these are starting in small ways to minimize the complaints, but now bolder and bolder) how long before all of USA people's assets are at risk? The massive taxation is not enough to feed the USA govt appetite, it needs to obtain trillions of USD to keep its current size. Will it do the right thing for its people, or the easy thing for its politicos?

Now this expansion of eminent domain I dont think has happened yet, but I am not up to date on all the insane laws of USA, so maybe it is already started? If you are having any amount of wealth and in USA, I advise to get most of it offshore if you can. I heard they are "cracking down" on such things since of course USA citizens should not have any right to move their money outside USA, they must be protected from all the bad things that can happen.

In Argentina this has happened and it made things go from bad to worse and USA is following in their footsteps!
Maybe Argentina's football team is not making the best showing, USA is learning from Argentina how to properly destroy the economy fast as possible.

James

Poloniex is the only exchange I do trust, and is why I am here and plan to invest, to begin with. And I doubt that I am the only one. Poloniex has proved themselves trustworthy, and the fact that they are accepting James' "documentation" is an important consideration when it comes to trusting these type of ICO arrangements.

It's really best if this IPO is held on a decentralized exchange, less worries for everyone.

OK, let's all stop worrying about Poloniex's supposed problems. If this "coin" is no good according to whatever government, then all of the coins are no good. This coin has a unique idea and all, but so do many others. To call this an IPO, which Poloniex most certainly is NOT, is up to whoever wants to call it that. But, that doesn't make it true, or more accurately, it doesn't make it any more true than any other coin.

Yes, promises are being made by James, and I have no doubt that he will do his best to fulfill them. But, if he doesn't or he completely changes the "terms", then there is not much one can do. The Bitcoin Talk Forum page is not a prospectus, a "coin" is not a stock, and an exchange is not an instrument of the SEC. Some day, some government(s) is going to make rules regarding all of this stuff, but for now we all know how the game is played. And yes, someone is going to get burned once too many times and a lawsuit will be successful (probably). But, it is still the wild west around the crypto world, and everyone should have enough common sense to realize this. Only invest in small enough increments so as not to be left surprised if the government (any government) pulls the rug out of this rodeo. 

James must have some sort of agreement with Poloniex, because I think SuperNet IPO is perfect for MGW/Nxt AE, I can deposit BTCD, BTC, and buy SuperNet using NxtServices client, which I have used and think it's pretty fantastic.

You do have a very valid point, if there is a possibility (even remote) that the gov could interfere, freeze, abort or stop the IPO in whatever form is a concern that must worry all of the potential future investors.

I guess the solution would be to do it in a decentralized environment, I am guessing NXT marketplace in first place, but that would imply everyone doing it only with that coin, which is not the most comfortable for investors, hence the decision of Polo, I am guessing (and this is my personal opinion) because their good history with this kind of events and the professionalism shown in the past, add to this that they have the means (even if I don't know exactly the details) to check on the devs, asking personal IDs and whatnot, strict rules for IPO funds withdrawals which gives more peace of mind to investors, etc.

Other solution would be doing it in VIA's ClearingHouse, but as I have been informed (due to another project I have and wish to develop in CH) is not yet cross-platform so basically is another no go for multicurrency IPO.
It would present the same problems that NXT have, in terms of rigidity of trading payment since we would have to use VIA.

So I guess we are back to the basics and is up to James' decision... Actually I don't think that he is going the wrong way with Polo but the quoted comment above worries me a bit.

Eth.

Yes, that's what I was referring to, perhaps a re-work of the IPO terms is necessary.  The poster raised some good points that should be considered so I'm not sure why there was all this negativity.

While I think his rant was uncalled for and quite a bit off point. He did address the issue.

"If you live in a country where this offering isn't legal, then don't invest."

Of course, for non-US investors the question of a US registered company selling a non-registered security, even if selling to non US citizens, is probably a problem. That James didn't address.

You shouldn't make this comment at all, it sounds really naive.  My comment was meant purely as a joke, hence my reference to toilets and garbage.  I don't think any US citizens involved in crypto feel they are privileged because of basic utilities.  The previous poster was stating his concern for US investors and Poloniex who is a US based company, and then we got James rant on how bad the US is without actually addressing IPO concerns for US investors, which is a valid concern.

Yea, I always think that is funny when people say it... Someone is paying for that "free" medical care.

That's a joke right?

There's no such thing as a free lunch.

Poloniex has stated in this thread that if the case of having a significant sized IPO they would segment it and move it to cold wallets.

Eth.

Hey everybody calm the hell down, and remember that sub-topic if you wish to call it that way, was "started" by the OP answering a question, so commenting about it is not a big deal unless the WHOLE thread focus around it.

Which by the way you keep feeding with the "kindly do not go off topic" posts.

Anyway and @JTB800 I never said that if the dollar goes down the rest of the world would be ok, sure thing most markets will collapse.

What we try to say here is that (some) US citizens feels privileged because they have some basic services and praise the gov because of that, well guess what the other 90% of the countries already have these also, most of them without NSA and the such. That's all.

Now the point of this whole story goes back to James' comment where he says that the state protects its citizens LESS than the citizens think, so we should unify, reinforce, promote crypto as a solution instead of killing each others in competition.

Hence the idea of superNET.

Eth.

We also have sarcasm in the US, which you don't seem to have where you live.

Still need to address Poloniex issuing IPO shares as a potential issue.

Nvm

No. And for the record, I did not start the topic..

Appreciate it.

It is asked nicely, so please keep this topic ontopic.

No. Any other questions?