Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 301. (Read 736777 times)

I think this issue has been somewhat addressed:
https://bitcointalksearch.org/topic/m.8602931

So if I'm understanding his correctly, NXT will be an integral part in this whole operation, right?

If people get +5% for purchasing in NXT, why not just buy NXT with the BTC you were going to use anyway and get more? What's the downside?

Doesn't this mean everyone is going to be buying NXT and the price will go up? Not that it's necessarily a bad thing, but I'm just wondering how anything but that could happen.

I assume people planning on investing in this IPO are already converting their BTC to NXT since if they get in on day 1 it will be +5% NXT bonus and +15% early bonus for a total of 20%(!!!).

Am I missing something here?

"UNOCS 2.0 - This time it's going to be different!"

I like the new name though. It pretty much spells it out. Whales cast the SuperNET to catch all of the minnows money.

What could possibly go wrong?!

Link to newsletter sign up now available on http://thesupernet.org/

all the details havent been worked out yet, but generally speaking I will have the authority to decide on how the funds are spent. Should just be rubber stamping the negotiated deals, but ultimately it is my decision for the funds.

I think for the BTCD and NXT that is raised (should be <10% of total), people wont mind if I safekeep it, but for the coin purchases and the giant amount of BTC we will need escrows. Maybe Poloniex can do this, maybe we need to split up the amounts. All depends on how much comes in so I cant say what makes sense now.

If only 21 BTC comes in them it shouldnt be an issue at all.

There is no daily management needed. Maybe you are misunderstanding the purpose of the fundraising?
Other than the 1% which I would probably just have for convenience to pay bills, the 99% will just sit in cold storage.
When a new coin is being added to the SuperNET core, then the BTC (or BTCD or NXT) is swapped for the coin and since these coins are for HODL, they can go to cold storage. Maybe for coins that are able to stake, we would be doing that.
The important thing to know is that I am not doing this to raise money to spend. There will be no big salaries, no office space, no fancy furniture of the office space we dont have, only some incidental costs like websites, graphics (if we cant get a volunteer to make a good one). So the 1% is really all I envision needing. The rest is just waiting for the swaps with the new coins being added to the CORE.

Now the operating side will have dividends coming in from the assets it holds and these are active monies that need to flow through to the owners of SuperNET and the various other parties that are getting the revenue share, eg. coin communities, all people running nodes, BTCD stakers, etc.

I do reserve the right to use my common sense to adjust and adapt to circumstances. In all the scenarios I would have the authority to decide how the money is spent. This is like it was done the the small NXTcommunityfund. It had ~3 million NXT and I decided how it was spent, but I had no access to it. I would authorize a payment and then it got sent. So, of course if I go crazy or get taken over by aliens, then the treasurer would probably have the sense to no send the payment. But for things that are business as usual, then the treasurer is obligated to make the payment.

Any changes to what is "business as usual" will be posted here and the latest post will supercede any prior post in case they are mutually exclusive.

I know in the future many things will change, I adapt to things and I believe I have demonstrated some level of basic competence in my decision making abilities. I do have a problem of being too trusting of others though. That is a known weakness of mine. However I work hard to make sure to minimize my mistakes and I am quite open and will ask for community feedback on issues that are not so clear. So, no formal procedures or anything like that, but I will do my best to take into account the communities input, but ultimately I am the one that must decide.

James

UNOCS is back 

As I recall, there is your coin only on paper ...

Are you high?

I am building the fastest crypto in the world, do you really think I would have any interest in joining some sort of "altcoin network"? 

I said what I said, because it's like hitting your pinky toe on a piece of furniture - sometimes you just can't ignore it.

5% is not something that makes it worth to arbitrage. The spread in the market will go to almost this if not more if there is artificial demand, so this should only just be a benefit for NXT and BTCD communities to avoid having to sell their precious and to get some nice little bonus. It is like the nice chocolate sometimes you get on your pillow at hotels. It is such a small thing, but somehow there is good feeling from this small bonus

Are you high?
I am building the fastest crypto in the world, do you really think I would have any interest in joining some sort of "altcoin network"?  
I said what I said, because it's like hitting your pinky toe on a piece of furniture - sometimes you just can't ignore it.

...low grade trolling from an intimidated jealous rival...

Contact me if you want to be considered for SuperNET. I need to know basic information about your coin and what unique features it will bring to the network.

Supernetwork intends to obtain meaningful amounts of the coin's that join, whale will be doing the negotiating (if he can find the time).

Will they?

I trust James because I know him (not his real ID though) - but it will add confidence & credibility to the project to use escrow, multisigs whatever!

I think he says he will do so with Poloniex, I am bored to read again the whole post to check it though

The asset we buy is backed with all coins that will be part of the supernetwork core. ( the money will be used to buy these coins)
I dont really see your point, can you please explain?

coin =/= IPO

EDIT: I invested in NTX IPO (BCNext was anonymous too)