Is this important?

Nice to see that more deals are done with XMR.

Here's a look at the SuperNEt ICO:
https://bt.irlbtc.com/view/780481.0

And further explanations:
https://bt.irlbtc.com/view/770895.msg8800002#msg8800002

I wish anyone investing in it, best of luck.

10 million coin presale out of the entire 30 million total. Correction noted: 92 million.

If you think presales are cool, you probably like this. If you don't, you don't.

The accelerated block rewards the first week were rather bizarre and probably the opposite of how it should be done, but that's a relatively minor 100K coins or so.

There was no omission. I was making a specific point, without comment on your opinion whether the presale was handled well or not

Fact: 1/9 (correction noted and see below) of the eventual total coin supply (presumably a much higher portion of the current supply, but I haven't figured this out) was sold to a group of relative insiders (i.e. people who even knew the coin existed) within a relatively short period of time.

What the was used for and whether it was conducted well doesn't change that point at all. As I said, if you think presales are a good idea, you will likely favor this, particularly if it was handled well (which according to you it was).

I leave it up to individuals who care to decide whether that makes or a desirable outcome or not.


This is nonsense. There are plenty of ways of preventing instaming, etc. that have nothing to do with a presale, and if anything the extra coins rewarded in the first week encourage instamining-type behavior (people who are able to deploy a lot of the right kind of hardware quickly and get everything in place right away get a disproportionate advantage).

I believe coins should do the exact opposite: a slow-start method (first suggested to me by gmaxwell) where the earlier blocks have lower rewards. That provides a good opportunity to address any startup issues (download problems, build problems, etc.) and avoids giving any particular advantage to people who are good with getting stuff up and running quickly (note, this last group happens to include me, and I've made a fair amount mining new coin launches, so I'm arguing against my own interest here). I'll note in fairness that Monero didn't do this, though also fair to note that the current team was not at all involved with the actual launch.

If by "nerd" mining you mean dga-type stuff, it is true they use the relatively mature Scrypt algorithm, and that is what prevents dga-style "nerd" mining, not the presale. It also likely gives a major advantage to people with the best Scrypt ASICs, which if history is any indication (and I believe it is) will usually be people with close relationships to the developers of those ASICs or the developers themselves.

Whether or not anyone cares about that I leave up to them (obviously opinions about ASIC-mining vs. non-ASIC-mining differ widely). It certainly doesn't count as a strike against VIA compared to other Scrypt coins, I'll say that.


Important correction! I misread the block reward schedule. I will edit above to avoid misleading anyone.

EDIT: In further correction on VIA. They did have a slow-start period of 10K blocks (about 4 days) with no mining reward. I applaud that, though I probably would just include some tiny reward as opposed to zero (small difference).

But overall the reward for the first 40K (not including the first 10K) blocks was about 100K coins in excess of the normal reward. I still find that bizarre and close to being an instamine over the first week. I see no valid purpose for it other than giving insiders a chance to rent rigs and mine out some extra coins quickly when few people even knew the coin existed.

This argument is nonsense. The worst pump-and-dump coins have all traded at high prices at one time or another. You can't argue that because something trades a high price it is great, especially on a thread where people are discussing what is or isn't a good investment.

Note: I'm not saying it isn't a good investment, I'm just saying that fact that it trades at such-and-such a price doesn't mean it is one.


Yes, it did, and I corrected that above before your post. For the first 10000 blocks (roughly 2-3 days) there was no reward. For the next 30K blocks it had higher than normal rewards. That bizarre structure (as opposed to simply ramping up to the normal reward over some reasonable period) is nothing more than fastmine/instamine/whatever you want to call it, although a relatively small one in the overall scheme of things.

I have no first-hand knowledge of how the presale was conducted, so I can't praise or condemn that aspect of it. Your comments on that matter carry more weight than mine would if I were to make any, since you seem to be intimately familiar with it.

I'm not a fan of how they handled the Peter Todd relationship, where they put out a hyped press release claiming he had "joined the project" as their "Chief Scientist," while at the very same time he was posting on Reddit saying that they were simply a consulting client, being charged the same rate as all of his other consulting clients (including Monero BTW), paying him to do something he already wanted to do (tree chains), and that he wasn't even familiar with what they were doing. That particular episode stunk of sleazy and possibly misleading promotional tactics to me, and in fact I suspect they hired him specifically in order to do the press release, though of course I can't prove that.

Other than that and what I dug up about the odd (but small) one-week fast-mine I know nothing about VIA, but it did leave me with a bad impression of them.

BTW, the fact that their stuff runs on coindesk is another negative to me, since it seems likely coindesk only covers what they are paid to cover (or perhaps is a huge enough story they would be forced to cover it, but that certainly doesn't including anything VIA-related).

Why is my opinion of how they conducted the presale so important to you? I already said: I don't have one.

And, no, consulting their own materials would not be a sufficient investigation for me to have an opinion.

And no I'm not going to STFU about problems I have with them just because you like VIA and I'm not necessarily complementary of it. Deal.

And here's you by the way, agreeing with the idea that Coindesk hypes pump-and-dump coins they have pieces of: https://bt.irlbtc.com/view/722532.msg8167219#msg8167219

It is definitely suspicious that Coindesk never reports on Monero (even after the somewhat unprecedented cyberattack against it last week) despite frequently reporting on objectively smaller coins (including VIA).


My constructive criticism would be relaunch without the presale and without the fast mining the first week, or someone should fork the code and do the same.

No I'm saying that I don't care enough to dig into it, nor do I particularly think it matters because in the end I reject the presale model. Are "good presales" better than "bad presales?" Perhaps, but to me it is a distinction without a difference.


It would be hard to increase the amount of FUD and trolling on the Monero thread.

However, I don't think its the same thing at all. This is not the VIA thread, and I'm not thread bombing there at all. I'm giving my opinions about an altcoin on a thread that is devoted to opinions about altcoins.

Are you a native English speaker? Serious question because the meaning of my sentence above where I used the word "presales" is quite clear and you are misinterpreting it.

But if you get enjoyment out of personal attacks on me, have at it.

Here's some raw material for you to work with: