Topic: Read before investing in SuperNet ICO - page 6. (Read 8733 times)

We work for free. The donations we receive cover hosting costs, testing equipment, and we pass a TON of donations on to contributors who commit code. Every member of the core team, at this juncture, works "for free". I'm aware that the core team is in a unique position, as we are independently financially ok / successful / whatever, and I know that many do not have such a privileged position (especially round these parts). Nonetheless, the Monero core team do not draw a salary, neither do we own a large portion of Monero. I'm certain that this will change in future as we receive more donations geared towards specific efforts, but that is the status quo right now and it has been that way for several months already.

jl777 seems to be a really smart theif. Stealing from his investor of all assets he hold.
I am glad I am on the "good" side. The only thing rpietila is pumping is Monero, nothing else from what I can tell by any of his post. He is not advocating any other altcoin, while this jl777 have 50 different pumps going on probably where he hold everything. It's like he built 50 castles of promises, while rpietila have 1 castle promoting financial privacy.

How easy it is to make money once you have a reputation. jl777 is going to take over the world (atleast he thinks) by having people buy all his crap assets. Compare BTCD, is it even working? Is the tech good? Are many people actively working on it? By my study, by going to check out the IRC channels I see nothing happening in #bitcoindark, around 21 people here, while there is 100+ in #monero-dev including core bitcoin developers.

The reason why Bitcoin Core developers is in #monero-dev and not #bitcoindark or #darkcoin? You should be able to read between my lines, but I will tell you right here, it is probably because the anonymity tech provided is really good.

Actually it is nothing at all like saying anything about Satoshi. The big difference is that markets exist for BTC. One can easily determine market value and one can easily move in and out of those markets.

I am not saying anything negative about jlhodl at all.  As for that token, or UNITY which the token becomes, it seems to represent assets that are not cryptocurrencies that are traded on open markets. I can't assign value to the non-cryptocurrency assets, so I chose not to invest. I think he refers to them as "other revenue-producing assets" or something like that. But I don't know how much revenue and I couldn't find enough info about those assets.  It is not a personal indictment against you or the dev...although its not really a coin with a dev, so it is more accurate to call him a curator.

You should know very well that there have been tons and tons of Hero Member Scammers, its just that you have a biased opinion since you Bought into the Supernet IPO and jl777's other Shit Scam Assets.

The informatiom the OP presented is all verifiable...(Not trolling)

It is true that jl777 controls over 50% of the funds of the assets that He created, so when the price goes up, he makes a ton of money. Same with "Supernet"(Which is a shit ass fucking concept btw)

jl777=possible scammer

Have you ever heard of a term called "apples to oranges" comparison? I already explained my motivations, first thing in the post. Given the lack of refuting you can do on these facts, thats the best you can come up with, isnt?

Yep, I am a clone account with "6" activity, and NOW give me 10k BTC!! Oh wait! I did not ask for money. So yeah the great jl777 vs "6 activity account" is a fair comparison.

Now this is all conjecture, not facts (I know jl777 supporters jump up and down on facts) but it might as well be that he "owns" the majority of SuperNet money ie invest himself. So which money will he run away with?

I love the way you chastise vuduchyld about trolling. Refute a fact in the thread, then open your mouth. Till then you are a jl777 troll yourself for making a jl777 is not a "6 activity clone account" comment. Till then sell your NXT while you can.

The thing that kept me away from it was that it wasn't just coins, but also other assets. Just didn't seem right to me. There isn't any kind of open market for this assets. It is impossible to value them without more info than we can ascertain.

Was already trying to figure out where the catch was. Couldn't lay my finger on it. Thanks.

In other words, he will invest ICO money in the assets that he already owns and use investors money to pump his own assets and dump on buyers.

Thanks for info. Now it makes sence for me.

Let us first talk about the elephant in the room. Who am I? And why the newbie account?

Answer – There are many egos at work in BCT. These egos make fact based discussion difficult. The current topic in hand has two divided sides – XMR people (rpitelia et al) and the SuperNet supporting NXT people. I belong to neither of the camp and don’t want my post history to derail this conversation. I don’t want people to jump up and down and claim FUD.

Disclaimer – These are just facts followed by conjecture (you are free to have your own too). Not an investment advice. Read through; if you don’t understand ask and someone might be able to help you with the research.
In the end, do whatever you want with your bitcoin, it is yours and you should decide.

How it started:

I am a small time investor in the crypto world. One day while scanning the market for buys, I hit upon BBR. The coin was climbing up on a very-very thin market. In the trollbox, one person mentioned jl777 a supposedly known name in the NXT coin space. Then someone mentioned about SuperNet ANN thread on BCT and I hurried over.

Like many people, most of the things did not make sense to me. Zerosum game and what not, lots and lots of words were being thrown around. I started reading up on the thread when I came to this post:
https://bitcointalksearch.org/topic/m.8696612

This guy, another newbie account, asked a very pertinent question. Now he was either unwilling or lazy, as jl777 said, to do some research. Finally either he gave up or was bought by jl777 as he ended up praising a guy whom he called a Ponzi scammer earlier.

Now, surprisingly, the same guy who quit came up with this gem later:
https://bitcointalksearch.org/topic/m.8781375

jl777 brushed aside his apprehensions by saying, and I quote, “I am not counting all the small things and just assuming the value for all the assets contained are encapsulated by the market price”.

“I like to underpromise and overdelivery. I find people are much happier with that approach than the reverse.”

A guy, who actually has been shouting over the hill about his 4 x gains in a fund (sharkfund0), wants to under promise. That was strange. So I set out to dig out things which trythisnow wouldn’t/couldn’t and the results are surprising:

https://www.dropbox.com/s/rj9jc467wsazfe3/jl777.xls?dl=0

Explanation on the sheet,

It lists out each asset + sharkfund0 + jl777hodl and then breaks the holding into pieces, listing out all the assets. As jl777 has been a rather active asset issuer and collaborator, I just did not have enough time to go through all.

I am not part of the NXT community or have good navigation skills on the NXT AE. So there are bound to be mistakes and explanations. I request you guys to correct/add things and quote it in the thread. I will add them later.

So what is the final achievement of this research? Strangely or rather not so, jl777 holds quite a lot of his own assets, direct ownership or otherwise.

Biggest example is of sharkfund0, his feather in the cap. A closer look at the issue tells us that a total of 1379.4994 were issued. Remaining assets are still held by the issuing account. Out of which,

Jl777b - NXT-SQ9J-JCAN-8XVY-5XN7K – holds 521.9 - 37.83%
NXTVenture - NXT-XRK4-5HYK-5965-9FH4Z – holds 348 – 25%

A total 60% of the asset was held by jl777 directly or via proxy. You have to wonder which “investor” got the benefit of the 400% jump in prices.

Similarly, another called jl777hodl,

NXtcoinsco or tradebots - NXT-YNZ6-HE8K-TPF6-AV45K – holds 1850000 – 18.5%
NXTVenture - NXT-XRK4-5HYK-5965-9FH4Z – holds 1455131 – 14.5%
NXTsharks or sharkfund0 - NXT-ZWW7-PSXW-89TR-AA67Z – holds 1214205 – 12.14%
InstantDex - NXT-74VC-NKPE-RYCA-5LMPT – 800000 – 8% (a fact which jl777 glossed over when pointed out by trythisnow)

So a total 53% of the asset was held by jl777 directly or via proxy.

If one digs through there are several other cases too,

HRNXTpool – 44% held by InstantDex and jl777hodl
NXTGrid – 96% of the currently issued asset by jl777hodl – The idea is to sell 2.5 million at market. Only 517k sold out of which 500k held by one account
MIC – 40% of the issuance held by jl777hodl
NXTcoinsco (Tradebots) –   30% held by jl777b + 24.125 held by Supernet (ie held around 54% of the asset earlier)

Now imagine an exchange where you can trade with a flat fee, there are no percentage based charges. And then think you own 30-40% of a coin. How difficult do you think it will be to pump that coin by circular trading? Not much?

That is the problem with NXT AE, the 1 NXT charge on any transaction, means it is easy for someone to pump an asset or build a market easily. Especially when we tend to look for most traded market.

Putting all together, this is my conjecture of things. Depending on the grouping described above, you might or might not believe in it. If you are a jl777 supporter, stop now.

Profit sharing proposed by SuperNet ICO says some of the assets will be transferred over to the system, “free of charge”, while raking in 50% of the fees. Problem is jl777, by proxy asset or direct access, already holds majority of the assets, so this doesn’t really make sense. This rather seems a ploy to garner enough interest in the assets, which for now is majority held by jl777, to actually for him to slowly dump them out.

The secondary proposal put in days ago had the asset “donation” percentage increased. This asked for:
a. Fixed remuneration in case coin makes to top 5/10 in coinmarketcap - Again considering jl777 already holds the majority of assets directly or by proxy, this for me sounds like a plan to get a fixed return for assets which can’t be dumped or sold in an open market. 24% of any of those assets being dumped will surely cause a panic. A better way will be to pump the price (NXT and asset both) and then present it as a compelling case. 1500 BTC “worth” of asset being “donated” for 500 BTC return.

b. The asset given out free of charge – This follows the formula I think is happening above. Generate enough interest in the majority holding of jl777 to actually help him clear out his inventory.

For jl777 supporters, if you are reading till now, you were warned.

I am sure jl777 has a long, confusing explanation about cross section, horizontal, vertical assets and marketswaps (on the assets he owns, thats not even funny). I don't believe him and won't give 10k BTC to him. Do or would you?