Quote from: NEMoon on September 28, 2014, 04:11:07 AM

Quote from: jl777 on September 28, 2014, 12:58:38 AM

Quote from: nhrf3 on September 28, 2014, 12:50:10 AM

Says a lot about how you feel of UNITY that you'll only support the asset with a meager buywall at 3/4 the ICO price.

Again, you're a fucking asshole James.

160 NXT is significantly above the highest official price during the entire ICO process. It was as low as 120 NXT and around 130 NXT for a lot of the time. Since 160 is bigger than 120, 130 and even 140, I assume this means you did not do very well in math class at school

I feel sorry for you

James

P.S. Also the BTC buywall is probably 85% to 87% of the average price paid during the ICO. Temporarily below 90% due to drop in NXT price. please tell me any other crypto IPO that has a buywall at all.

The guy is a total douchebag and troll, no doubts on that, but I also think that buywalls should be set at least at the min IPO price, which is 0.01 BTC, as far as I know. So, you're basically feeding trolls and fudsters with your actions. Buywall at higher price is wrong, because it would be the easiest money for investors. Buy at 0.01 and sell at 0.0115 back to devs. But buywall at 0.01 is just fair and logic.

I am following what I said I would do. There are no surprises at the formulas. If NXT price goes up, the NAV will go up. If I tried to price fix things at any specific price like 0.01, this would endanger SuperNET and that is something I will not do. Do you want me to do fractional reserve price peg that endangers the solvency of SuperNET so that the buywall is fixed at 0.01? What about when the NAV is at 0.015? You will probably not like it if the buywall was pegged at 0.01!

The NAV is the NAV is the NAV. It is based on market price fluctuations and anybody that tries to impose an artificial price peg will end up bankrupt. This has been proven over and over. My job is to ensure SuperNET is protected and grows. This means NAV is NAV and not some price peg that is not 100% backed. i do not believe in fractional reserve. or leveraged crypto.

If my doing what I said I would do is feeding trolls, then there will be a lot of troll feeding as I always do what I say I will. I said there will be a NAV based buywall according to the formulas described. I never promised an asset NAV buywall. I never promised any put option at ICO price.

Any such things would be materially different than existing spending authority and would need to be put up for a SuperNET vote. I will actively campaign against such onerous financial obligations. Do you want to put it up for a vote?

James