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

The transfers, they are done:

15720904723604126361
13969817255360149927
616709295133043647

Now the SuperNET account has the core assets as described and it will thus get 24.15% of the dividends that these core assets will generate. I feel a happy balance.

http://nxtreporting.com/?a=NXT-MRBN-8DFH-PFMK-A4DBM&c=USD shows the SuperNET account
It currently has 23.5 million NXT (which I still have not run away with) and 26.3 million NXT worth of the core assets.

Let us calculate the TOKEN NAV and SuperNET NAV, the latter using core assets and assuming full 20% dilution.

2014-09-11-14:00:03-GMT SOLD 211012.56580535 TOKEN

928.44400974 BTC, 8955179.34129586 NXT, 18107.41954836 BTCD, 604418.27454791 CNY
NXT AE 23495504.342392 NXT for 187039 TOKEN

Total TOKEN: 398051.56580535
BTC 928.44400974
NXT 32450683.68368786 * .000085 = 2758.30811311 BTC
BTCD 18107.41954836 * 0.01398860 = 253.29744909 BTC
CNY 604418.27454791 @ 2930 = 206.2861 BTC
BTC equiv = 4146.33567247

TOKEN NAV = 0.01041658 BTC

If the UNITY trading is active, there would now be a 50 BTC buywall at 0.01041658 BTC

Now let us adjust this for the value of the core assets, the following I just cut and paste from the GUI:
InstantDEX   241'485   1'000'000   24.15%   48.98   45   10'866'825
NXTcoinsco   241'485   1'000'000   24.15%   26.98 25   6'037'125
NXTprivacy   241'485   1'000'000   24.15%   43.9989   39   9'418'180
Total 26322130 NXT * .000085 = 2237.38105 BTC

Now we assume the "worst case" dilution where both bonuses are earned, which would mean there are a total of 497564.4573 SuperNET assets. You can check the math, 80% of this number is matching the number of TOKEN.

SuperNET NAV = (4146.33567247 + 2237.38105) / 497564.4573 = (6383.71672247 / 497564.4573) = 0.01282993 BTC

This is a 23% premium over the TOKEN NAV, even when using the 20% dilution.

I hope these calculations make it clearer how all this works

James

Isn't this ICO the whole reason NXT has been on a constant pump? Since a lot of people sell BTC for NXT to get in to the ICO cheaper.

What happens when this ICO is over, I guess we'll see a correction in NXT prices and thus a correction in TOKEN/UNITY NAV

The 5% bonus for NXT is not enough to create any constant buying pressure as the bid/ask spread is probably half that. Maybe some initial boost, but then it costs more to go BTC -> NXT -> TOKEN, vs just BTC -> TOKEN. It was designed to bonus people who already had NXT.

My theory is that SuperNET has gotten some people who before this never bothered to even look at NXT with an objective eye. Now that people are seeing that some crazy guy has made millions of USD in a few months via NXT assets and that a NXT asset has gotten thousands of BTC of sales. Well, only somebody who is not observing the reality will still deny that NXT is real and useful and has a bright future.

So, similar to BBR, I just made people notice there was no reason for it to be having such a low price. A lot of people who are trusting of me just immediately bought BBR and quadrupled its price. But a lot of people took the time to actually look at this ignored cryptonote and saw for themselves why I like it and then the bigger money moved in.

Just my opinion though, I have been know to make many mistakes, so please make your own conclusions about the valuation adjustment that comes from a communitywide discovery that NXT is really cool.

James

P.S. One key thing to realize is that even if I inadvertently caused some artificial demand for NXT with the 5% bonus, unlike any other price increase where all the NXT that is bought will be sold on the open market, SuperNET's 30 million+ NXT is for HODL and private investments in NXT economy startups. For those trying to model this accurately, this is a key factor that cannot be ignored as the SuperNET is absorbing the average trading volume of NXT so far.

Thanks for the reply, just did a quick check, selling BTC->NXT->TOKEN would give a discount of around 3%.(straight selling into market orders) So it's worth going this way.

I like your point about the NXT in Supernet's holdings won't be dumped on the open market. This would reduce a potential correction.

As for the crazy guy making millions and pointing out BBR, I couldn't care less about this. It reminds me of Max Keiser tweeting Meow and Kittycoin(not sure there were multiple cat coins) getting a huge pump.
Like you said people should make their own conclusions, and not just follow some random guy, who had some success.

No offense. I have a couple of Tokens, just thinking if it's a long term HODL or not.