Post
Topic
Board Announcements (Altcoins)
Re: [ANN] SuperNET - ICO conducted by BTER + ...
by
jl777
on 11/09/2014, 19:21:23 UTC
Having the money in escrow is nice and all, but putting $1m in James' pocket right away sounds ridiculous.
Am I missing something?
James will lose his 1 million dollars if superNET fail.
He puts money in it because he believes in it.
It's simple as that.
They are not "his". They are the money raised by this funding campaign.

No. This funding campaign have nothing to do with any of the following project : InstantDEX, Tradebots (NXTcoinsco), NXTprivacy, Privatebet, cryptocard, NXTventure, jl777hodl.
He is not taking money from the superNET ICO.
superNET ICO ≠ James assets
He takes his money from assets and invest in the superNET ICO.


How do you figure that?
The entire design of SuperNET is relying on the core assets that I was to put into the SuperNET at marketvalue. This has been always the case. Due to the funding coming in at the lower end of the scale, it would have been ~500BTC worth of core assets. This is not enough for a healthy revenue stream. So, I put in 2000 BTC worth of assets, even though I could only get 500BTC worth of SuperNET for it. So, I am basically trading my personal core assets at 75% discount for the SuperNET asset. This is a signficant percentage of my net worth and we can debate what it is actually worth, but I have been told something is worth what someone else is willing to pay for it. The marketprice.

So, at the potential sacrifice of 750 BTC, I have fixed the imbalance of SuperNET's business balance. With the SuperTraders, NXTventure, core assets, advertising, partner revshare, the SuperNET will have many sources of profits. I am a generous guy, but I also like to keep things fair and this deal where I am just donating $750K to TOKEN purchasers is quite one sided against me.

So, I balanced this with performance triggers. Many are confused at the sheer complexity of SuperNET. Some take comfort in the fact that I am able to design such a thing as they can kind of understand it and if I can do this in the financial arena, then it is more believable that I can get the code working. Now, what does it mean if SuperNET is Top10 marketcap? I estimate this means 3x from NAV and if this is achieved by year end, how will you feel as a TOKEN assetholder? Would you feel that if after all is said and done that you tripled your money within a few months, that I would deserve another 250 BTC worth of SuperNET? If so, now I am only $500K behind.

So, now what if SuperNET is Top5 before the end of next year? This is at least 10x. How would you feel? Would I deserve to have been able to buy another 250 BTC worth of SuperNET using the core assets? So, this is the "worst case" as far as the TOKEN holders go, that the price is 10x and jl777 gets an extra 10%.

If this is something that you are not happy with, then I suggest to please sell all your TOKEN now. I do not want to have assetholders that are not willing to share 10% after they are making 10x.

There is a chance the vote is against me. In this case I will still put in the assets as promised. In this "best case", the TOKEN holders will have gained 1500 BTC worth of assets for no financial cost. Imagine my spirits in such a "best case"

I understand many outside the NXT world are not so familiar with assets. https://nxtforum.org/index.php?topic=4940.msg99751#msg99751 has a discussion in the NXT world about this.

James