- "The other day I announced that BBR was a good buy. Within two hours, the price more than quadrupled! Some buying panic pushed it as high as 8x, this is a pretty unexpected effect I seem to have.
- It has been almost two days as I write this and BBR has gone from a death spiral with no volumes to being one of the more actively traded coins, its hashrate also quadrupled and the price is now building a base at 4x to 6x the price when I created the “jl777 effect”
- Now how can a simple C programmer like me have such an effect?
- The reason is the Supernetwork. This is the network that will be created by joining all the participating coins into a single unified network. Each coin will of course continue to operate normally, but there will be an option to use any of the services that are available in the Supernetwork. Each coin that joins the network makes it bigger and also adds its unique tech that is then crossmarketed to all the other nodes.
- I am estimating 100,000+ nodes are achievable and the best part is that it is clearly not a zerosum economy at all. The more coins, the more transactions, the more revenues. Just from InstantDEX alone, the expected revenues are significant as even with a smaller than centralized exchange fee of 0.1%, the fact that 100,000+ are able to directly exchange their crypto in near realtime assures a stable revenue stream. The MGW instantly become one of the top volumes for NXT as soon as it was made available, even in beta status running on my dev servers!
- I will be sharing the revenues from the Supernetwork with all the nodes in the Supernetwork, proportional to their involvement in generating the fees. With InstantDEX providing a baseline amount of revenues, the additional revenues from Tradebots, Privatebet and next year when we add small fee to Teleport, will all continue to increase the revenue stream.
- There are NXT assets that correspond to each of my revenue producers and of course the coin I adopted when it was just a baby, BTCD, will be getting a small horizontal slice from the Supernetwork. It is like the thing in the middle of its spiral logo. But the Supernetwork is just having BTCD at its center. The coins that are added will each have to pass some threshold of value that they add to the Supernetwork and also the community needs to be a positive cooperation based mentality. The zerosum dog-eat-dog competitive world is probably needed in mature fiat world, but it has no place in crypto. We need to join together to create a giant Supernetwork that will be a magnet to pull as much fiat into crypto as possible.
- Some will ask, will this be a threat to Bitcoin itself? Well, of course not! Anybody that things that any coin (or even Supernetwork) will replace BTC is underestimating the power of the network effect. I offer a small example to make my point. DOS + Windows marketshare in 2014
- So, no need to worry about bitcoin’s future. New tech will certainly make its 2008 era tech look like it was from last decade. Since it was, this is not a surprise is it? The best tech only matters when there is no installed base, so bitcoin will live and thrive and always be a barometer of the overall crypto industry. This does not mean it will be the best ROI, in fact almost certainly the smaller marketcap coins will outdo BTC on an ROI basis. This is also very clear. Just do the math. BTCD was $100,000 marketcap when I joined it. Now it is about 60x more. 6 weeks, 60x. But it was “only” 6 million USD, which if BTC gained that much would be a gain of .001. So the same amount of marketcap is 6000% for BTCD and 0.1% for BTC. The next 60x for BTCD will certainly take a bit longer than 6 weeks Smiley
- In any case, if BTC itself is doubled in value, then this doubles all of crypto’s value, so all this nonsense about dethroning bitcoin is just like island villagers fighting amongst themselves saying they will one day be bigger than the entire continent! No, let us all work to help each other, especially BTC and everybody wins. Except fiat.
- Now there are many people in NXT and BTCD communities that understand the potential of the Supernetwork. This is what caused the “jl777 effect” on BBR. Clearly BBR as an island is having to have a large barrier for getting more people, but once it joins the supernetwork, it will be possible for people who never heard of BBR to easily find out more and become an active user. BBR’s dev crypto_zoidberg is someone I really respect. He is making the most changes to the cryptonote codebase. Some might debate how much better this makes BBR over all the other cryptonote forks, but who else is changing the blockchain format, adding aliases, a GUI(!!), plus even more improvements. I spent a bit of time with cryptonote source back when I was experimenting with pNXT. I couldnt even get the official cryptonote source to compile properly. With BBR, it was smooth sailing. I am not so good with making build enviroments as anybody that has tried to build my code will attest to, so just being able to “make” and it works. Well, that was what got me interested in Boolberry and in a couple days I was able to make a fork called pNXT. Well, going from pNXT to my accidentally become a core dev for BTCD is documented elsewhere, so I wont repeat myself here. The important thing to know about BBR and crypto_zoidberg is that he is accessible, helpful, clearly supersmart and has actually modified the block format of cryptonote, solved a most important issue of blockchain bloating, and in his spare time made nice friendly GUI. A lot of people put importance on having a team of coders, but I can tell you from firsthand experience I much rather have one dev that can do the work of 7 than 7 devs.
- Now crypto_zoidberg is teaming up with me and we will be working together to make some custom improvements to both BBR and Teleport. Only time will tell the exact nature and impact of this, but with even the basic Teleport offering 2FA like enhancement to any other coin, I already have some ideas on how to, ok I will save them for later
- Understandably, I am being approached by coin devs who want to be part of the Supernetwork and I am evaluating them to find their unique advantage that brings value to the Supernetwork. While the Supernetwork will be able to work with all of crypto, eg. you can trade BTC and other crypto, only a select number will form the core of the Supernetwork. What this means is that the coins that are accepted will most likely get a pretty immediate boost in valuation. Nothing like what happened to BBR in most cases, but still the fact that the coin instantly is worth more when it has direct access to the Supernetwork and also gains revenue sharing, really does increase the value of the coin. This is a permanent and significant change to the outlook of the coin.
- In order to bind together the core coins in the Supernetwork I would like to make an investment to purchase a meaningful percentage to HODL. No intentions to flip after the price increase, just long term buy and hodl and collecting the revenue share. Now I have already made enough money to buy a Starbuck’s latte a day for the rest of my life, so my financial needs are met. However, I like to setup financial structure that accurately reflects the value being created. Just an obsessive thing, probably, but it just seems wrong to quadruple a coin’s value and not have any scorecard to record this. I dont mind making others a lot of money, in fact that is my primary goal when I have my “financier” hat on, so these percentages of the new coin means I need some liquid capital, BTC, to obtain.
- Hence the Supernetwork IPO. It will use the funds raised to privately purchase coins prior to public announcement of their acceptance into the Supernetwork, also for some after market support and maybe even market making to provide liquidity. I will capitalize it with my personal holdings of the assets that are benefiting from the Supernetwork, sharkfund0, InstantDEX, NXTprivacy, Privatebet, Tradebots (aka NXTcoinsco). This will make Supernetwork asset benefit in the short term from capital appreciation of the private purchases and long term from the revenues generated from the Supernetwork.
- Many people are finding hard to believe how it is possible for everybody to make money. Surely somebody must be losing money to be able to generate revenues for the Supernetwork. The nature of zerosum economy is just ingrained in a lot of us from the fiat world. The economy that is growing rapidly is able to make everyone in it to benefit. Now of course, anybody not part of Supernetwork that needs to compete against it, I cannot be confident in what happens, but still with the long term effect to continue to increase BTC itself, I think that even coins not part of Supernetwork will survive and even thrive.
- I am seeking the right venue for this IPO and I will post more details as they are finalized.
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