What's the price Unity/BTC has to be in for James to receive his bonus?
.02109 btc
From OP:
Bonus plan for jl777
2 bonuses of each 5 percent of UNITY will be paid to James if the following conditions are met:
1. A tripling of market cap by the end of 2014.
2. A tenfold increase in market cap by the end of 2015.
The 3x Bonus threshold is 5737.1589 * 3 = 17211.4767 before end of 2014
The 10x Bonus threshold is 57371.589 before end of 2015
for nxt, big buy order at 290,
move on and good price.
Okay. So 573715.89 UNITY were bought/created during ICO @ 0.01 btc per. That puts the initial market cap at 5737.1589 BTC. Then there is the 10% non dilutive incentive bonus for jl777 (5% for each goal, x3 this 2014 and x10 2015). Now if these extra 10% get counted to the initial marketcap (actually 8160.61 BTC) then they of course must be counted to the goal marketcap, which means the x3 goal is 24481.83 BTC.
Then logic clearly follows if these 10% UNITY do not count in the initial market cap, they don't count in the 3x calculation either. This puts the initial marketcap at 5737.1589 BTC and the goal marketcap at 17211.4767 BTC.
What does not get done is: Calculating the 10% UNITY for the initial marketcap, but then do not calculate them for the goal marketcap. Clearly it is obvious why this makes no sense. It is just padding the starting cap and reducing the goal cap with no actual progress. It's a trick.
The price started at 0.01, so logic follows that a tripling of marketcap means a tripling of price, as Supernet does not have an inflating share supply.
Now the above comments I'm responding to are not from jl777. So, I think we need an official statement from jl777 as to how this gets calculated and a justification for that. This should corroborate what was stated at the beginning of the IPO & not include any "funny" accounting like outlined above.
you are partially correct.
I put in a lot of assets at below market and so I shouldnt have to triple the value of what I essentially donated, but the divisor is 90% of the total.
My calculation shows 0.0234 as the threshold and really, not much chance of this happening at this point so no sense in getting all worked up about it.
However on the off chance that it happens, I would like to share the bonus with everyone that has helped SuperNET to get to where it is. There are 300+ people in the SuperNET slack now, a large number of them working really hard and while I was critical to get the SuperNET started, already I am becoming a small part of the big picture.
I expect some large controversy over how it will be split up, but I think giving everyone in Slack the ability to allocate some part of the bonus would be a decent way.
Something like, we rank everyone's contribution according to a sliding scale. Maybe simply the number of posts in Slack, or hours worked, or servers contributed, etc. So, maybe 5 categories of people, each with a different wt and they can allocate a proportional amount of the bonus to 3 to 5 people, using open voting.
Tally it up and distribute out the SuperNET.
What do you think?
James
You were compensated how many 10's of thousands UNITY for those assets? And still more meaningless saying you "gave" them for free or below market value when they are fantastically shallow markets on totally unproven assets. I think you are doing good work, but lets not be silly James. You created a bunch of assets that had and still have no present function, make a bunch of promises about them, toss them onto an ICO that investors piled 6k BTC into and take a sweet piece of the pie. Additionally, the non-dilutive aspect of your bonuses makes this piece of the pie much, much larger. And now we are going to play with numbers and say 2.34x is 3x. On top of this, you continuously remind us that you are becoming everyday diminishingly important to the process, progress and future success of this whole thing. Please do not take my words to be cynical. I am just calling something what it is in a blunt way. You are a visionary and prolific coder and laying a foundation for something amazing. If this all actually works out it will be a monumental feat. To repeat, I think you are doing good work if it all works, but lets not be silly and play games with the numbers.
Could you please show us how you came to the calculation of 0.0234 BTC/UNITY.
I think everyone in this case is correct (to a certain degree). James is working his ass off on this project and its his brainchild. I think he got around 10% of SuperNet for this leadership, with another 10% in bonus potential. I have no problem with that. In this case I want the lead developer to be super (no pun intended) vested into the projects success.
And the community did vote on the calculations James is using now, so it technically is a mute point.
Now lets not kid ourselves. James is very good with numbers and so your comments, BBC, about the state of current assets being traded and their arguably outrageous market cap in terms of Nxt (albiet the bear market in Nxt makes this situation more extreme, imo, as it drives more Nxt into Asset "havens") and James' ability to "swap" this value for the 10% and potential bonuses is also valid. However, this should have been clear to you from the outset, imho. It was there for everyone to see.
Likewise this "vote" will probably vote a % of the bonus to James. Coincidence? No. Bad thing - not in my opinion. James operates with a very generous hand towards the value of his assets, dispersements of dividends, etc. but unlike many devs, James has no problem putting himself in profitable long term scenarios. His mentality as I judge it is to take care off all the investors first, but take care of himself too. I have no problem with that. Especially as long as James is working 18 hours a day 7 days a week on this project.
You are probably the 2nd largest owner of SN. I am the 3rd or 4th or close. We all have a huge incentive to see SN succeed. Better we work together than airing dirty laundry for everyone to see.
