Daily Report

42 hrs into the fund raising we are well over 3000 BTC and the prev 24 pace is around 250 BTC. If this pace maintains we would end up right around 10000 BTC for the NAV. This will give the SuperTraders a 1000 BTC bankroll and a chance for some nice near term profits. I hope to have some announcements regarding the SuperTraders this week.

With the work week coming up and the holiday in China winding down, I am expecting the declining volume from the opening bell to be counteracted by the end of the weekend. The effect of the press is hard to gauge and with the VRC community becoming active SuperNET spokespeople, we could start seeing a gradual increase in the daily volumes. If we start seeing an acceleration of volumes, that would indicate SuperNET is going viral and then there is no telling where it will end up. We do need a few days post opening day to start seeing some trends, so all this is just guesses for now.

There was some nice press articles and some weakness in the BTCD and NXT prices, so if people are seeing their purchasing power shrinking this might spur them to purchase. The choice of hold and wait for price increase to get more does make sense if we are sure the NXT or BTCD price is going to keep going up. However in markets things never go in a straight line so it could take a couple days going the wrong way and that costs the 2% from the early bird bonus. What if the price doesnt come back to within a few percent?

So it is quite tricky to know what is the best way.

Here are the recent totals

2014-09-08-05:58:47-GMT SOLD 170911.11336213 TOKEN + 159743 = 330384.11336213

753.11424019 BTC
6780122.09516537 NXT + NXT AE 20022792.5840505 = 26802914.67921587 NXT @ 7608 = 2039.16574879 BTC
15804.13479868 BTCD @ 0.01228840 = 194.20753006 BTC
519171.665713 CNY @ 2938 = 176.70921229 BTC

3163.19673133 BTC equivalent / 330384.11336213 TOKEN = 0.00957430 BTC NAV per TOKEN

The unexpectedly massive NXT purchases combined with the BTCD pulled the average per TOKEN close to the full 5% bonus level, this is further reduced by the open bell confusions, but that effect will continue to become smaller with each additional day.

As the days go by, the NAV should keep going up, but since there is quite a lot of BTC, it is possible for it to go down if NXT and BTCD are both dropping.

Clearly things started off with an incredible burst and now the marathon begins. Will we see a gradually declining value to where it is less than 3% on day 14? If so, then the fund raising would end 2 days after that. Or will we see the volumes gradually increasing?