NXT is being used to launder BTC or other forms of money, and it's somewhere around 4-5 people who drive the whole thing and they collectively own 80+% of the coin. jl777 is one of those people. They go through phases of distributing the coins to people who they think can improve the profile of NXT(that would be me and Ian Knowles) and other tactics like 'swarm teams' and manipulation of the market ticker to make a steady profit. This goes to pay the promoters, infrastructure, etc. Jl777 in particular seems to have some kind of exalted status in this group as it's abundantly clear he is running multiple ponzi schemes, everyone knows it, but no one calls him on it. Jl777 has garnered at least .5 million USD from his ponzi investments and he has never a the end produced a return on any of them.
That's interesting to read about jl777, James. And yes, you are quite right that he is rolling out one scam after the other and no one calls him on it yet (but the call from law enforcement will be inevitable and they will be calling him on).
I know about him relatively little. I came cross with him in the VeriCoin thread on the day when he started to sell his Supernet IPO. He needed the back in and support of the Vericoin community and he was pushing really hard his agenda. As he came cross as a real charlatan in promoting his product I had no doubt his Supernet is a complete bollocks, and as we can see of course it is (he can check-in at Github as much code as he want, that doesn't change the fact that the whole Supernet idea is a bollocks). I do quite a lot angel investment in real life and come cross all the time with convincing charlatans like James aka jl777 is. Anyway, it is interesting to read this speculation that he is one of the main NXT founder guys - no wonder he keeps his anonymity intact very carefully.
Not that he can remain anonymous forever whatever talented he is and we have to give him that he is very talented, being able to collect U$ 5 million require a special talent even in crypto world.
