Re: [ANN] SuperNET - ICO conducted by BTER + ...

wow 10k BTC that is alot of money. i ain't seeing my money double quick so i am out good luck.

It's about $5 million. I think we've approached peak-James, and I'm afraid of heights especially in light of this:

Quote from: busoni on September 05, 2014, 06:14:12 AM

After careful deliberation, we have decided to not participate in the SuperNet ICO. I understand that a large community is excited about SuperNet, and since we were initially announced as the ICO host, I wanted to take a moment to explain how we came to arrive at this decision.

For the past couple of days, weve been in discussions with our attorneys about hosting the SuperNet ICO. As several community members pointed out in this very thread, the sale of SuperNet tokens could be interpreted as the sale of unregistered securities. Our attorneys came to the same conclusion and have since advised us against taking part in the SuperNet ICO for this reason.

Further, one of our ICO requirements is identity verification (https://www.poloniex.com/icoRequirements); this requirement exists to protect investors and to lend credibility to the ICO. Despite several attempts to convince James the importance of revealing his identity, we were ultimately unable to reach an agreement that satisfied both parties.

We needed time for due diligence, to carefully assess the legal implications of taking part in SuperNet, and also the time to set up our backend systems to support it. James was very eager to get this going, however, so he chose to go with another host before we could communicate to him our findings and final decision.

We have since communicated with James, and we wish him the best of luck.

if you are not comfortable in any way at all, please do not invest. If you are believing in the cause a donation up to 1 BTC would be appreciated.

I have posted my response about applying fiat rules in crypto. If you are wanting fiat rules, then there are plenty of fiat investments backed by the full power of the fiat legal system and this guarantees that all fiat investors are protected and nothing will ever go wrong.

In crypto, everything is a risk and the ones who make the right choices make disproportionate returns.
This will not always be the case, but it is for now

James

It goes without saying that great reward requires great risk. It also goes without saying that the greater the attention/hype over an ICO/IPO, the less undervalued and the less of an ROI there's likely to be for an investor.

I respect what you've accomplished to this point, James, and wish you the best, as failure of this magnitude would be pretty damaging to an already badly damaged cryptoworld.

But beware: Pride goeth before destruction, and an haughty spirit before a fall.

please try to understand SuperNET is not backed by "air" but by BTC in escrow
I do not need you to invest, but please try to be accurate in your risk assessment.
The risk is that the escrowed funds held by coinbase, Xapo, bter, community trustees multisig accts have something unexpected happen. The reward is that any part of the good outcomes I am writing about comes true.

James