SuperNetworks

[cube]

The conversation between devs (catia and bitfreak) of cryptonite may shed a bit more light into Supernet:

<catia> yeah i dunno. it's like they want supernet to be integrated into coins rpc
<catia> and then to run supernet you have to run daemon for all coins
<catia> so it's like ultimate in blockchain bloat
<bitfreak> hmmm
<bitfreak> so they in order to be a part of the supernet we need to customize the rpc api?
<catia> yeah import their library
<catia> which of course won't work right
<bitfreak> lol of course
<catia> and it violates my #1 goal of killing QT
<bitfreak> I don't really trust the people behind it anyway, too closely related to NXT
<bitfreak> and they can't admit when their anon scheme sucks
<Myagui> but I don't think you need to tie up to local daemon for any coins catia , think you'll only need to run any of the coins if you want to trade from the supernet dividents (which I understand will all be issued as nxt assets)
<catia> yeah it wreaks of scam with IPO stuff and is likely against US securities laws
<catia> because it is structured like an ETF afaict

And this is bitfreak's reply to l777's invitation to Supernet

Quote from: jl777 on August 30, 2014, 06:58:51 AM
OK, it seems clear no interest

Supernetwork IPO on Poloniex
https://bitcointalk.org/index.php?topic=762346.msg8592943#msg8592943

bitfreak's reply: I didn't say I had no interest in the whole supernetwork thing, that does seem like an interesting idea. I just don't think the anonymity scheme you have developed is very compelling, it has too many assumptions which will never hold true in the real world, double spending prevents it from working as you imagine.

[feedthemcake]

Go with your gut. My gut said stay away.

[changematey]

I don't know how much truth or sense this makes but I saw this on the altcoin observer thread:
https://bitcointalk.org/index.php?topic=624223.msg8802514#msg8802514

This guy seems to have dug up some of the assets owned by James, seems he owns majority in most of them. It seems fishy to me.

[gamey]

Am I correct in believing jl777 is completely anonymous ?  His bitcointalk account isn't even a year old...

[CLains]

jl777 saw his opportunity and took it.. everyone else is bowing away responsibility

[cass]

Honestly, i didn't notice the complete thing! SuperNET, BTCD ...First time today on bter.com ...
jl777 - i noticed that he has launched a few assets which are on coinmarketcap.com also. Does they are really functional? IDK

[graffenwalder]

Supernet to me seems a scheme to boost the value of all cryptos that jl777 holds.

Yes it is. The interesting part will be when the ICO/IPO ends.
Because he will always have a buy wall up of 1% of the NAV at NAV (Net Asset Value).
I wonder if pumps will still work, because it's so obvious what the price should be.

Also all the assets that go in to the supernetwork are in a pump.
But once the ICO/IPO ends the pumps are over, which should result in a dump, and thus in a devaluation of the supernetwork.

[tonyk]

ICO = ?

(I'd google it, but the acronym has 50+ meanings)

Initial crowdfunding offering, same as IPO

There is a term and acronym for this already...

Initial crowdfunding offering =  ICO   

... and 'crowdfunding' is a word now, also...

Sorry it's initial crowd offering. This term is used a lot in equity crowdfunding.

Now, that is a good term!... reminds me of:

panem et circenses (en. Bread and circuses)

[Bitshark]

Supernet to me seems a scheme to boost the value of all cryptos that jl777 holds.

[graffenwalder]

ICO = ?

(I'd google it, but the acronym has 50+ meanings)

Initial crowdfunding offering, same as IPO

There is a term and acronym for this already...

Initial crowdfunding offering =  ICO   

... and 'crowdfunding' is a word now, also...

Sorry it's initial crowd offering. This term is used a lot in equity crowdfunding.

[tonyk]

ICO = ?

(I'd google it, but the acronym has 50+ meanings)

Initial crowdfunding offering, same as IPO

There is a term and acronym for this already...

Initial crowdfunding offering =  ICO   

... and 'crowdfunding' is a word now, also...

[graffenwalder]

ICO = ?

(I'd google it, but the acronym has 50+ meanings)

Initial crowdfunding offering, same as IPO

[gamey]

ICO = ?

(I'd google it, but the acronym has 50+ meanings)

[graffenwalder]

The interesting thing is I sit back and examine my own cognitive biases, being a Bitshares fanboy etc. 

Am I lacking in objectivity? 

Is this really as crazy as it seems ? 

I really trust your analyses TonyK, which are just as harsh on Bitshares products as anything else... but still..  I'm just like uhhhh what.  This must be why NXT price has started to grow significantly again.  Either that or maybe it is rebounding after sell off to diversify into Ether or BTSX ?

The reason NXT is on a pump, is that NXT and btcd get a 5% discount on the supernet ICO. Then they sell it on the TOKEN/BTC market for a quick profit.

Also the cheapest way in for non NXT and BTCD holders would be to sell BTC for one of these

Result NXT and BTCD pump. However most tokens sold on the BTC market are being sold below current ICO price.

His current selling point(what he's trying to achieve) is basically start a crypto hedge fund.
At all times he will set up a buy wall of 1% at NAV.

Also some of the funds are given to "super traders" wich are meant to bring extra value.

By all means I'm not trying to convince you guys to buy in to this ICO. The main downfall of supernet is that it's to centralized.

[donkeypong]