Topic: Read before investing in SuperNet ICO - page 4. (Read 8720 times)

Too much controversy to invest.

For me, this is too easily a realistic theory:

A respected and intellectual guy decides one day that he can make enough money to essentially last him a life time. Although the project is revolutionary, they still stand to make so much money that they wouldn't have to work a day in their life ever again. Personally, how can anyone not see this as the primary source of motivation? Not only that, but once they have the money there is absolutely no reason why they can't just sell of the BTC and never ever return to the cryptocurrency community. Sure there would be rage from a lot of people, but would justice ever be done? No. So how the fuck can people think it's legit to invest a size-able amount of money into this.

If someone well known for their intelligence came along tomorrow and was also well respected and they offered a similar such service, however for cheaper. They'd just do the exact same, collect the BTC and run. That's what a smart person would do, not a honest one, but a smart one.


Although the above theory cannot be proved, neither can the latter. Do you really want to give a guy 10k BTC for a project like this? IMO, I'd work 20 years solid if I was promised that amount of money in the end. Do you really think in less than a year, whatever work, is deserved on that much money? Moral fags clearly have no place on the internet. Shame for me!

The basic point of SuperNet/UNITY is really a technical one, and that seems to be getting lost in the number crunching.
When this works, it won't matter how the assets are structured, SuperNET will create a linked system of crypto-currencies (NXT, BBR, BTCD+ others) and services (such as Coinomat, or BTER) that will be able to offer pretty much every imaginable function of crypto currency from within one unified interface.

It makes a lot more sense to integrate the coins with the best implementations of a particular feature into a network, than for one currency to re-invent the wheel for every feature. As Este Uno says above, SuperNET will offer the best of the current crypto scene, in one package.
This could, very possibly, be the 'killer app' for crypto, bringing crypto into the mainstream.

I'm not saying that I have total, 100% blind faith in this project, but I have a lot of faith in jl777 and the community that is forming around SuperNET, I think they have the ability to make this happen, and if it works, its going to be massive.

Even if it fails, it'll still break new ground for crypto in general, so it's definitely worth a try.

Sure I wish I owned both BTCD and BBR, but that doesn't make the gains in sharkfund0 an less true. Obviously the whole point of investing in something like sharkfund0 is to delegate the investing decisions and distribute risk. I wish I could just pick whatever stock goes up in the Dow Jones rather than just investing in the index too.

I don't own any jl777 related coins or assets so I'm not biased from any financial perspective. I try to look at the situation objectively. I like the idea behind superNET though as I think I've made clear. I think if it works out it's potentially a game changer for alternative currencies.

If you feel that someone saying "at least attempt to tell the truth" is equivalent to directly calling someone a liar then that's fine. My intention when writing that wasn't to brand you as some sort of serial liar, but it thought it was very suspicious that you had been researching all of this superNET stuff and happened to miss that part. But I thought we established that you didn't mean to intentionally mislead, so there's not much point in discussing it further.


I said that the ownership percentages are listed in the OP. I'm sure lots of people still don't understand the extent of cross ownership between all of his assets.

Of course I beleive people can do their own research. You said this:


So the fact that 7 people in this thread did in fact "take statements of a "newbie account" as the gospel truth" seems to support what I said. Some people will believe what they want to believe and it doesn't take much for them to form an opinion. It's obviously easier to just say "oh fuck that superNET shit, it's just a scam" then to actually spend the time reading and researching what it actually is.

I said they were "his words" because I remember him saying just that in the thread. I didn't go to github to go count the lines myself. I'm not a programmer and to be honest I don't really care if there are 40k lines or not. I know enough that lines of code aren't any specific measure of work, but it tells me he's at least coding. Which is to me the reason I have any interest at all in superNET. Since he's not just talking about doing it, he's actually attempting to build it.

I certainly don't think he's "jesus", or anything other than just someone who seems to have a lot of motivation to get things done. He could stand to be more organized and more clear with his ideas. Also, I think he would benefit from slowing down a little bit and focusing on less things at once. But apparently that's not how he works. He's the one doing shit and I'm not, so I'm not one to argue.

Also I think you underestimate what he's trying to build. You keep comparing it to ripple or the MGW. I wrote this recently in another thread as an example of what you should be able to do from the superNET GUI that will be launched from any wallet that's a part of superNET:

-Ability to send BBR transactions with other currencies(which of course use CN's ring signatures and BBR's unlinkable outputs upgrade)
-Buy and sell assets with whatever currency you're using on the NXT decentralised asset exchange instantly with James' InstantDEX and MGW tech.
-Buy and sell crypto and fiat through the coinomat service. Which is apparently offering some sort of anonymous debit card which sounds pretty interesting(but I don't know much about it).
-It will be a platform where service providers will be able to integrate their service to be used directly from the superNET GUI. For example BTER exchange is planning on implementing their service to be fully usable from the superNET GUI.
-Integrating Bitmark's 'marking' reputation+trust system which integrates Martti Malmi's(sirius on here) Identifi. This will be helpful for using the asset exchange and to help rate any service provider on the network(or any object really).
-Decentralised peer to peer anonymous betting system via James' Privatebet tech.

I wonder what ripple gateways do? Hmm, let me check....oh they do exactly the same thing just that their curency is xrp and here.......oh well, I am surely misunderstanding jl777's grand plans.

For anyone who is wondering jl777 first appeared wanting to create a ripple gateway for NXT and since only project he has actually released has been MGW - multi gate way - which functions as............oh yes, a gateway to move NXT and BTC. His first announced project? InstantDex , an exchange to instantly exchange BTC to NXT and vice versa......which, oh again is like gateway. Supernet is? a gateway for any currency to any currency using the tokens ...which is? again like ripple. Yep lets burn money where you could have got stellar for free.

... and hes anonymous....

how's that possible to manipulate the vol and price?If it was easy than why don't other devs manipulate the vol and price of their coin?

The price of BTCD, NXT and BBR is higher at the moment is that if you pay for Token with those coins, you get 5% discount. So people are buying those coins, which increase the price of them. If superNET goes down, or ICO finishes, then the price of those coins will come down.

Supernet is a kind of fund. It comprises of coins which is illiquid and activities are difficult to value. jl777 owns a lot of them, which cannot be sold to market easily. By having this Supernet, jl777 can pump the NXT and sell some of NXT at hypered value. As Supernet is a kind of investment, there might not be any dividend from it in the future. If you own 1 BBR and do not convert it to Token, you will have 1 BBR at the end of the day. If you convert that 1 BBR into Token, it might not worth 1BBR later.

How many is the total supply of the token?

Ok, let me stop calling you names and answer this.

Lets talk point by point. BBR and BTCD were simply "pumped" because they were participating in a "super duper secret" project. I cant tell but are you being serious about "being part of the 40%"? I rather wish I held more BBR and BTCD - they wud have given me 10x returns than 400? See why I say you are biased? You would rather wish for a route to suck up to jl777 than take the most profitable route.

Secondly, "not telling the truth" = lying. God whats with your english? And read again, I said the omission was unintentional, not the fact that I did not understand jl777's grand plan. I think this is the easiest defense of a SuperNet support - you don't understand jl777's vision, well so be it.

Now I have to give props to you. So you reach a conclusion that "everyone in jl777's thread" has understood that he has fingers in all the pockets and owns most of his own assets. But you don't believe people can do their own research? See again why I say you are a biased observer? Everyone who supports jl777 is a maths genius who knows all his dealings + understand "his vision" but rest of bitcointalk people are fools.

This thread you say? Lets count for and against people (other than me):
Against SuperNetico:
50cent_rapper
Mrrr
vuduchyld
Come-In-Behind
Skinnkavaj
nakasat
Zer0Sum

For SuperNetICO:
Stealthcoin
Hotmetal
torshammer
noashh
Este Nuno
positivehigh
Zer0Sum

ie 7-7. Number of posts? Well you do the maths there. So, I see where you are going with this...making me use the childish insults again....cant control it...you moron, get off you high horse. You are no causal observer with no leanings. You are free to state your opinion on the matter but stop trying to make yourself look foolish.

Again, last two paras are your opinion, specially with a weak reasoning - his words. eh? So I guess jl777 is Jesus for you. But I am not going to ask "show me the proof" thats your belief and let it be.

I don't know much about sharkfund0 but if I remember correctly I think it was mentioned that it held 10% of BTCD and 10% of BBR. And considering BTCD has gone from nothing to top 10 market cap crypto and BBR recently went up over 10x it doesnt' sound too unrealistic that sharkfund0 did in fact go up 400%. I wish I was one of the people who had a part of that 40% of sharkfund0 to be honest.

I didn't call you a liar, I said you were not being truthful with your statement. If you're saying that you omitted that because you misunderstood what James was offering then that's fine.

And I do think think that people will take the statements of a newbie account at face value without investigating the truth behind them. This thread is a perfect example of people doing just that. People will do that when it's what they've wanted believe all along anyway, and as soon as they see someone else writing the things they want to believe they form an opinion based on that. If everyone on here took the time to investigate what was true and what was false we probably wouldn't have thousands of altcoins and scams going on every week. But people just believe whatever makes them feel better about themselves.

SuperNET sounds too good to be true when you first hear about it. And it's possible that it is too good to be true and it never works out the way it's supposed to. Nothing is guaranteed. If James hadn't created the MGW and written 40,000 lines of code(his words) since spring I wouldn't be interested in the idea. But this seems to be an interesting case where you have someone with both the ideas and the apparent technical skill to make them happen. Lots of people have ideas, but it's rare when you have someone who can actually build things as well.

Anyone who wants to invest in superNET should do their own research. It's more akin to a start up company as someone had mentioned earlier. Its intention is to generate revenue and profit. What ever incentives people feel are best suited to them getting the largest return on their investment are what they should vote for with their TOKENs or UNITY shares.

Ok missed this one. I have already posted the facts from my side and my belief stems from that.  Facts about how he holds most of his own assets, and how his claim of 4x returns for "investors" in sharkfund0, considering there weren't many investors (he holds nearly 60% of the issue) are enough.

If you feel that no it doesn't then thats your prerogative  ....

and this has been clarified over time again and again. You still ask me "can you elaborate" making me repeat it again makes you a moron - call it childish name calling if you will.

I dint call you a "do gooder" rather I called you a moron and a SuperNEt supporter who is trying to act like a "do gooder". It just goes to show that your comprehension skills need work.

Now with the last para, I have to ask this. Do you not understand english or follow logic in your land where you belong?

English-wise, that is called an omission, though it happened unintentionally, it is just an omission. Not a lie.

Logic-wise, anyone who is going to read "asking 500 BTC for 2000 BTC worth of asset" is going to get curious and check jl777's post. There he/she will come to know about the "performance" string attached? Or do you think people in BCT are such idiots that they will take statements of a "newbie account" as the gospel truth? If you think that, then yes you are a moron (forgive me again for the childish name calling )


Edit: And then there is this - https://bitcointalksearch.org/topic/ann-atomic-in-supernet-core-single-blockchain-for-trading-all-coinsassets-780833
Let me count the number of projects under "jl777 banner" (banner cause no one should call me a liar for omitting that he has a "team" ) or how many pies he has his finers in:
Working/worked on

Privatebet (part of NXTPrivacy)
cryptocard (part of NXTPrivacy)
SuperNet
InstantDex
Tradebot
BTCD Teleport
subatomic?
MGW -- only thing which is currently live

Managing/giving advice:
sharkfund0
Atomic
jl77hodl
NxtVenture

Yep nothing can go wrong.

Supernet is NOT a coin.  It is not even a basket of (only) coins.

If by "all" you mean all of the members of the core team, and if by "loaded down" you mean individually holding more than a tiny (well under 1%) fraction of the coins then you are 100% wrong. You also have zero evidence for your statement, which says a lot about the credibility of things you are willing to spout off about.

If you mean a certain subset of loud investors who talk a lot about their holdings on the forum, it might be true. I really have idea, I don't follow what they say very carefully and I don't know if what they say is true.

This is the usual propaganda from the Monero Truthers...
Unlike James Hoodle, these guys are really, really fucking good liars.

They are all loaded down bagholders of MRO/XMR since the early days...
McRisto claims he bought in at 0.002, which seems like total bullshit...
Just like the catastrophic silver crash of 1847...
But think about the logistics of McRisto accumulating a large position at 0.002 in April-May?

As for James Hoodle and his NXT House of Cards...
It's ridiculously easy to manipulate the volume and prices of NXT assets...
If someone like Jimbo tells you, "I don't care about money"... run for the hills.

All received OK. Thanks for answers.

As I said it I don't really know but it is likely more than thousands less than hundreds of thousands. Perhaps there is a question of termonology. When we say "don't own a lot" that is generally by comparison to premine/instamine coins where there developers generally own much more than a tiny single digit percentage. If you think something very roughly in the range of 1% is "a lot" then we own a lot!


If I remember correctly I sold a lot of it in the range of 0.0001 to 0.0005, which made it worth around 2-10 BTC. Given the relatively little effort I put into mining it, that was a reasonable return for me. I mined more and made more from mining BCN, in case that matters.

I think fluffypony indicated that we are likely more well off as a group (though certainly not all of us) than many on this board (also likely far less well off than others), and that is indeed why we can afford to work on the coin at all. So yes our positions that I call small will certainly appear large to some.


I don't particularly pay much attention to investment advice from random people on forum sites, trollboxes, etc. whether or not they happen to be XMR supporters or detractors.

I don't think theres anything wrong with that


Up to around 130k is what I had assumed. Certainly could be more or less.  It can't be proven or disproven really so it's irrelevant. Just odd to hear the announcement that in fact they barely own any XMR.


I like the altruistic statements, but feel they are somewhat naive/unbeilable. However not surprised or unexpected for them to be said if you wish to perpetuate the idea XMR is as far removed from your traditional clone coin pump/dump as anything that has ever come before it (not that I personally have an issue with any of the core members holding large amounts as mentioned earlier or imagine that owning 'large' amounts between them automatically dooms the project to be seen as a pump n dump - not at all ).

 I find it strange to imagine that a random observer such as myself, who tends to overwhelmingly post negative sentiments towards XMR would have invested a larger amount than those such as yourself who spends a significant amount of time in XMR related threads contributing positively to the ecosystem (amongst other contributions). I'm fairly confident it's not simply a case that I have more to spend. Agree to disagree is something we will have to do.


I know that 20k XMR which you said you owned before the coin hit the exchanges, adds up to 75+ BTC at todays prices, already above what many could afford to throw at at an alt.

If you believe the words of many XMR supporters, it's only a matter of time before that 75 is turned into 7500 or even 75000 BTC.

I can't see why any of the core devs would not have decent net worth to invest into this project to maximize their gains, assuming they believed there was an opportunity to do so nor do I see that as a problem. I can't see how anyone could invest more than they have either.


I'm certainly glad nobody from the core team has said such a thing.

If he is a thief then i am fully supporting a thief. If he is a scammer then im happy earning from the idea of a scammer. By the way  have you earned from btc? Do you think you are not a thief or a scammerr that you bought something low and sell it in much higher price? Do you think its fair? So all of us are just scammer Nyahaha This is not a fud post. Just  bored and wanna post

Of course people own portions of startups, even very large portions. This happens in a context where there are safeguards against abuses. Shares can't be sold to unsuspecting investors, and indeed usually insiders can't sell shares at all, except under very limited conditions.

Coins are not startups, and crypto lacks the safeguards that make investing in ventures with concentrated insider ownership (sometimes) viable in the conventional business world.

I don't really understand supernet, but it seems more like a startup to me than most coins. Still the safeguards that exist outside of the crypto world are not present. I take no position on supernet specifically though.