Topic: rpietila Altcoin Observer - page 29. (Read 387457 times)

Like I've said before, the reason I find this interesting is that it's not just someone writing ideas on a message board. There's actual code behind it. If this were simply someone posting ideas it wouldn't be worthy of discussion.

The best part about this is that there's no risk just to watch and observe and possibly help where needed. That's what I'm doing myself and that's what other people I know who are more capable than I are planning on doing.

As a quite idea-rich person myself, I am sorry to say to you: idea is worth zero, without chances of implementing it to a paying audience.

Here both the qualifications lack for all I know. I am also a business angel, so this is a no-go for me.

Scamming? Let's leave that to the judgement of history. I mentioned that this type of things have in the past been scams with high probability, but even this was too much for jl777 (I sent PM). I wonder if he has ever been in credit check. They don't pronounce you a scammer but evaluate the risks, and if the formula says "too risky", they don't give a loan.

Sounds like eMunie's supply-demand model.

The idea behind superNET is not that complicated really. The technical implementation of all of it may be, but the result, or at least what it intends to offer is pretty simple.

For the end user it will be a GUI that offers access to all of the different services that are connected to the network. The GUI will be accessible from wallets of coins that are part of the network.

As far as what services will be accessible from the GUI at some point, so far it sounds like it will be something like this:

-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.

We've been talking about how important the network effect is now for ages, so it will be interesting to see how this plays out. I've noticed that technological process in this space seems to happen incrementally with new cryptos coming out that usually solve one problem, or come out with one new improvement at a time. Recent examples being CN's ring signatures and Cryptonite's miniblockchain. The idea that the end user won't have to continually switch currencies in order to take advantage of any new and useful improvements is something different. It would seem that it offers a mutually beneficial situation for both the superNET and the creator of the technology: the network provides the demand and the users, and the technology creators provide just the services(supply). Taking away the fact that anyone creating new technology is currently forced to go and create a whole new currency on their own with no user base to start out, and forced to compete in a sea of shit, sounds like it could be a better environment to help foster innovation. Yes, they will still be creating a new currency, but if this works out the way it's intended to, the technology itself will be able to be judged on its own merits and be on an even playing field.

I wish the trolls and people in general would focus more on the idea and the tech behind the idea rather than the constant 'it's all a big scam' posts. If if superNET isn't it, the theory behind the idea is interesting. A meta network of cryptos actually solves some of the issues of the altcoin scene. Fractured user bases, lack of network effect, constant need to 'pump' currencies. If this actually works technologies will succeed based on the demand for them. If you provide a useful service that people use which results in people using your currency via the network, then the demand part of the equation is solved if the network has a sufficient amount of users.

Maybe it's too good to be true and something like this will only ever be a dream for non-Bitcoin currencies. The idea itself still has a lot of merit I think.

The avenues that have not been adequately treaded as regards emission...

...first that comes to mind is demand-based supply.

If we posit that Bitcoin exists, it is easy to construct a trustless oracle that offers Newcoin against Bitcoin at ever-increasing prices.

Suppose we have a small IPO that defines the initial price. Some of the funds would go to developers and the rest would be eternally loaded in the trustless oracle to take care that it can buy back the Newcoins it has sold for Bitcoin. So it would be a two-way barometer that anyone can enforce to sell or buy Newcoins at the fixed price points.

But that would not have much volume, barely enough that the market participants are interested of keeping its price in line with the actual market rate.

The interesting part is that the trustless oracle can be used in the emission function (difficulty adjustment) such that the higher price climbs, the more coins per block will be created. And vice versa. This mitigates the swings, and provides coins when the market is in demand of them. Without needing a committee for determining the need, it is all hardcoded.

Mircea Popescu has used the similar construction in his stock offerings long back. I also had a proposal for a business network with unincorporated shares trading as a currency back in 2000-2001 (this carries much similarity to SuperNet btw. except that this very component is afaik not present in SuperNet). Disclaimer: mine did not work and I don't believe this (SuperNet) will either. It is a certain level of economic understanding that breeds those ideas.

This graph is misleading. It is better to use the proportion to the total coin supply, not the absolute numbers.

Yup. I've been repeating it like a broken record. A non-decreasing block reward from day 1 would probably have the best long-term distribution because there would be less work/reward variation (except in difficulty, which could also be adjusted on-the-fly).

Interesting choice of logo.

Membership of Bitcoin foundation costs money. If the rewards are shared among full node operators, then it is similar to PoS. We can allocate some proportion of the block reward to Dev.

Ahhh.  Now I get it!

It didn't help me, and I'm not being deliberately or apathetically critical of it. I try to understand things, which is why I went to the trouble of figuring out what his teleport thing was about. SuperNET is still a mystery to me, despite pictures like this, or perhaps because of them.

Looks simple.
With the centralization of coinomat.com company behind
It's not a currency (disclosure: I am here to invest in currencies not companies), it's like 50 company coins / assets built into 1 who is gonna buy all that? , most likely everyone will fail, you cannot launch the same thing all over again with the same company behind it.

maybe this helps you?



just posted in BTCD thread

It can be honest.

But I have seen the same kind (ultimate assertivity and no verifiable content) before in my life. The word "network" is always in the name. The ones I have encountered before have always been either a delusion of the centerperson detached from reality, or a conjob.

Try to make a clear statement of business model for instance. If there is one, it can be evaluated.

Not sure if this is to OT, but what's your take on SuperNET? 

I have tried to coax some sensible answer out of the people in the supernet and btcd threads,
but honestly, it all seems to be techo-gibber to me. No meaning at all. But everyone claims
that there's so much behind it - even though nobody seems to understand what. It all hinges
on that single guy (jk777 or whatever) which seems to be extremely productive in terms of
coding and extremely incapable in terms of communication...

+1 would be nice to see.

Perhaps normalize to total supply so all of the coins are at least on the same scale?

Here is the one-week resolution chart for Dogecoin vs CNY as presented by Bitcoin Wisdom. Note the strong upwards breakout from the bubble collapse resistance trendline that I drew from the January peak. Merged mining with Litecoin appears to have convinced speculators that the risk of a 51% attack has greatly diminished.

By the way, since yall are now discussing other alts that show promise like monero,  it might be in your interest to look into this guy's project.  

Coinsolidation I mean.