Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 304. (Read 736777 times)

Of course not!
Anybody can issue an asset called SuperNET, just costs 1000 NXT
So you really need to make sure it is from the right issuer

So it is not you?

it didnt take long for the scammers to try something

The SuperNET asset will only be issued after all the fundraising is done. And I will certainly announce the issuing account and asset id.

Anything else is a scam.

James

Thanks for let us know this.

https://nxtforum.org/scam-alert!/supernet-asset/

This prior post of mine made me realize that there are absolutely no graphics at all for SuperNET!
So I wish to make some sort of contest. The prize is the massive pride you will have for having created the SuperNET logo.
When I saw the little MGW asset debug at #67, that SuperNET would probably be in the top 20 the moment it is started and so we need a logo for the coinmarketcap.

noashh has also set up a quick website, he will post the details on this, but I think it makes sense to have some sort of website and I realize this could be some significant amount of work, so not sure the best way to proceed. Hopefully we will get some website designers to come up with concepts with bids.

I am the last thing from a graphics guy or website guy, so I suggest to just post here and noashh will organize it and at some point if there are multiple choices, we can make a voting.

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

lol.

interesting I'll be watching.

there is no ruling by any coin over another, that is hierarchical thinking, we are decentralized arent we?

I am suggesting UNITE to reflect the reason for SuperNET's creation, to unite all crypto into an optimized money making machine that will enable BTC to suck most of the fiat into crypto

James

It is clear that you have not even read the OP about me feelings about BTC. This thread is for serious discussions and I would appreciate it if you dont pollute it with some thoughtless slogans that are not even presented with a logical argument.

"the first is the only one that will survive in the long run" must be some sort of Pareto principle exaggeration. Now if what you state is true, this world would be a much less varied place. Also, are you saying this in general or just for currencies? Would you like some counter examples that show how unfounded in facts your statement is?

The rules for my threads are to present facts and theories, maybe some are self evident others could be more speculative or controversial. To just make some ridiculous statement and pretend it is fact and to make a conclusion from this. I sure hope you are not making actual real life decisions with logic like this!

I could just say I am made of cheese and therefore fondue is a horrible thing. Was that convincing or just a waste of time?

Would be trolls, if you want to ruin any sort of intellectual credibility you have, just post some FUD. But I warn you that I will not be kind for violators of my No FUD Zone rule. I made an unmoderated thread, but for the sake of the serious people who are making decisions about money, let us not pollute it with non-thoughtful slogan FUD.

James

Also, I will not be having the access to the funds, maybe some small amount like 1% so I can pay for websites and other expenses.


so who will has the right to access these Funds?
and who will manage these Funds everyday?

thanks.

James definitely goes on my list of people I'll buy a latte for.

The more I consider the implications and possibilities of SuperNet (and, naturally, the effect it will have on NXT), the more I smile.
We've promised it (almost as a joke) for a long time, but I can now see how NXT is going to become the 'one coin to rule them all'

Can I suggest SNW as the official ticker abbreviation.....?

That's not 100% true. BTC is the first, and as the first is the only one that will survive in the long run with 1 or 2 more. All the others will die, or they will represent a 1% of the market.

The first, is always the winner. That's a basic principle.

with the cryptonite dev not seeing much value to it, it seems quite unlikely
maybe he doesnt like pirates?

Cryptonite is a good candidate because James sees the value of its mini-blockchain technology.  Hopefully we'll be able to change the name before it joins.

Strong work as usual jl777.

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

I am not understanding. Are you really suggesting that there will not be enough BTC for doing the coin deals? I am expecting some thousands of BTC to come in. Why would I sell the NXT or BTCD when these are undervalued compared to BTC? In fact I am sure that many coins would ask to be getting the NXT or BTCD instead of BTC, or maybe there is some sort of mix.

"Those need to be offloaded by you" indicates you are sure of something, but it turns out it is not true. Did I say I must offload all the NXT and BTCD? So, please give me some credit for not being stupid. I think I have earned that.

I am giving a small bonus (not arbitrageable) to the NXT and BTCD communities and accepting direct so they dont have to sell it to get SuperNET. Dont you see you have it backwards. By allowing this I prevent sales of millions of NXT to get BTC. Sometimes you worry me with your gloom and doom. Maybe you need to get a nice Starbucks latte! That is always for making good mood, it is probably the caffeine and sugar but still doomy gloomy is not fun

James

wow this is amazing ,I am invested in this