Bitcoin Forum

Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing

Cryptocurrency exchange Poloniex is to list the jl777hodl asset (ticker symbol JLH) in a groundbreaking new development for crypto trading. The fund, which represents a basket of high-performance crypto initiatives, was previously only available via the NXT asset exchange. Its inclusion alongside Poloniex’s list of virtual currencies signals a step-change in the way cryptocurrency exchanges view their business, as well as offering a significant new source of liquidity to crypto-based companies.

NXT community achievement
Since the NXT Asset Exchange was launched in May a wide range of assets have been issued. NXT developer and forum member jl777 has been responsible for a number of these, including the popular NXTventure – a business that funds, supports and spins off other businesses of benefit to the NXT and cryptocurrency ecosystems.

With NXT’s multigateway already in beta, direct and decentralised trading between cryptocurrencies will soon be possible. In parallel to this, JLH’s listing on Poloniex opens the door for others to issue directly bitcoin-tradeable assets. This will come as a welcome development for the NXT community, some of whom the asset creator has recently assisted in launching successful assets of their own. ‘There’s an art to crafting a successful asset,’ says jl777. ‘The NXT community are an innovative and entrepreneurial group, and this asset provides an excellent model for others to follow.’
 
jl777hodl
JLH (asset number 6932037131189568014) is essentially a wrapper for around 20 different promising NXT-based assets, including many created by other companies and individuals. These include everything from payment processors and crypto venture capital funds to mining outfits and online stores.

‘Hodl’ is a popular cryptocurrency meme that began on the bitcointalk forum back in December 2013, when an unsuccessful daytrader drunkenly complained that he had quit trying to time market movements and instead decided to ‘HODL’. The misspelled word has since passed into crypto lore as a term for investors who doggedly maintain their holdings through thick and thin, ignoring short-term market volatility in the pursuit of long-term growth.

Poloniex: exchange-plus
Although the addition of a crypto-asset to a traditional exchange may seem trivial, the development heralds a radical shift in the cryptocurrency landscape. ‘To my knowledge this will be the first time a major exchange trades any NXT asset, or any colored coin from any other platform,’ comments Bas Wisselink, NXT community manager. ‘JLH will trade against bitcoin: this will be the first direct path between a non-bitcoin asset and bitcoin funding.’

This fundamentally represents a paradigm shift for Poloniex, too. Instead of trading in digital currencies alone, the exchange has expanded its list to include a whole new class of offering. ‘Assuming success with JLH, I expect that more and more NXT assets will trade on Poloniex and, by extension, other exchanges too. NXT assets can now be viewed as BTC equivalents,’ explains Dan Kindly, NXT marketing associate.

Due diligence
Investors are recommended to perform their own due diligence on the assets that make up jl777hodl. More information can be found at jl777.org and nxtforum.org. ‘The value of JLH is solely based on the value of what it contains,’ says jl777. ‘I have chosen these assets because I believe in their future potential, but investors need to do their own homework. Of course speculators may choose to skip all that, but I am more interested in reaching the long term buy-and-hold investors – hence the name.’


So, if you want to get in on the ground floor of a very exciting new development in the world of crypto, you can buy jl777hodl from the following sources:

Poloniex:
https://www.poloniex.com/exchange

The NXT AE, available from within the NXT client itself.
Here, if you haven't already got one:
https://nxtforum.org/nrs-client-how-to-help/%28nrs%29-%280-8-12%29-latest-nxt-client-and-english-tutorial-%282014-03-21%29/

And also from the Secure AE project:
https://trade.secureae.com/#6932037131189568014

I don't get it. ???

Centralised exchanges are looking beyond just listing cryptocurrencies, this is the first listing of a crypto asset, James' basket of crypto investments: jl777hodl

Now you can buy this fund, if you will, not only on Nxt Asset Exchange but also trade it on Poloniex.


Another first for Nxt, I believe  ;D  

WOW is right, price has almost doubled in the last 30 minutes, the market loves jl777

wheres the more information about this coin.as a invester i need to understand my investment.
thx Dev's hard work.

It's not a coin it's a fund.  Read the OP again.

not a coin ANN!

jl777hodl
JLH (asset number 6932037131189568014) is essentially a wrapper for around 20 different promising NXT-based assets, including many created by other companies and individuals. These include everything from payment processors and crypto venture capital funds to mining outfits and online stores.


Just for clarity: this is a bundle of NXT assets, but being listed and traded on Poloniex as well as on the NXT asset exchange.

Heres the Poloniex listing: https://www.poloniex.com/exchange/btc_jlh

And here is the Secure AE listing: https://trade.secureae.com/#6932037131189568014

You can , of course, also buy it through the NXT clients built-in Asset Exchange......

You can view the assets that jl777hodl own by going to >>>> http://nxtreporting.com/?a=18323612891099439610&c=USD

Scroll down to "My Assets" and you will see jl777hodl currently holds 22 assets in various companies and individuals.


Think of it as a mutual fund, jl777's value is related to the other assets it holds.

Heres the official Poloniex press release:

https://www.poloniex.com/press-releases/2014.07.18-Poloniex-is-the-First-Centralized-Exchange-to-List-a-Groundbreaking-New-Development-in-Crypto-Trading

jl777.org has more info

the coin are look like good

Just purchased this at poloniex. seems very promising. Can't wait to make a profit off it.

jl777hodl got a meme:

http://www.coinssource.com/poloniex-list-jl777hodl-jlh-first-ever-crypto-asset-listing/

Help!

I wonder, this asset does not pay dividends??? Is this asset just speculation??? Thanks :)

JLH reinvests all the dividends it gets from the assets it holds. This way its growth compounds.
There is provision to convert JLH to its prorata holdings if you have a large enough amount to redeem, but I expect that it will be trading at a premium to the breakup price, so it would most likely be easier to just sell it at market

James

P.S. I will be adding some new assets to JLH this weekend and I intend to continue adding more and more assets over time.

After much research on NXT and Assets I did run into one problem I couldn't find an answer to. The assets that are purchased from Poloniex, can those be sent to the NXT wallet or do they have to stay on polo? I'm guessing the asset you purchase from polo is the same asset you can purchase from the asset exchange from the NXT wallet. If that's the case wouldn't it be cheaper to purchase NXT then purchase the asset from the NXT wallet?

Another thing is the profit, or loss, from the asset. I'm guessing it's like any other speculative currency in that you hold and sell later.

TY

Just out of interest what kind of % share do you consider large?

what does this asset consist of?
where can i find detailed information about it?

You can use http://nxtreporting.com/?ac=NXT-DE2F-W76R-GL25-HMFPR

Scroll down to 'My Assets' and it will list the 26 assets currently held in JLH.

You can expand each to find a description of what it us, more info and discussion around each can be found on nxtforum.org

 ;D

Time to give this a swift kick, just to remind people that there is also a trading contest running for this weekend:
2 prizes of 5000 NXT per person for:  the most active, and the most succesful JLH traders on Poloniex.

The weekend is half over...and I am never saw an announcement on Polo (mostly always watching that site)...

Sounds like a fun contest as I really like the idea of JLH but it seems like it is already over...won't stop me from acquiring it though..

This is the first time that traditional exchange platform add NXT ASSETS,exciting!!!

I went ahead and purchased more today seeing how James will tie bitcoin dark into JLH. I know he said he'll be placing more effort into JLH once he has the flooring down for BTCD. The whole thing looks promising and I have btc to spare for some experimental trade setups.

Fascinating!  Kudos to everybody involved!

Might purchase some just to support the concept and the initiative...and to keep my eye on the progress.

I've been giving some thoughts to something vaguely similar, but enough different that I'm sure you wouldn't consider it competition in any way.  I've got some questions that would help me understand what you're doing a little better, if you wouldn't mind (somewhat simplified, but assuming "jlhodl" is a person and "JLH" is the asset or fund):

--Are these assets owned by jlhodl?  Or were they owned by the person, jlhold, and to get this started, he basically bequeathed them to the fund, JLH?  And purchasers of JLH on Poloniex are buying a share of that collection of assets?
--What happens if the fund price dips and stays lower than the value of the collection of assets?  Is there a mechanism to sell the assets and distribute the proceeds back to the fund holders?
--The total assets on the SAE listing is 10,000,000.  Is that basically the number of available JLH's?  Any way to check the float, like, how many have sold, how many jlhodl still holds that are as of yet unsold?  What is in circulation?
--When I look at "My Assets" on the Nxt link, there are 26 assets.  Under "Your amount", only 9 of them actually show anything listed and 17 show zero.  Does that mean JLH only actually has holdings in 9 of the 26 assets at this point?
--It seems like we'd be buying what is, in essence, a managed, closed-end fund--managed by jlhodl, the person.  Are there any significant differences that I am missing?
--I say closed-end because it seems like the shares are limited to 10,000,000, but I may have that wrong.  With an open-end fund, you can continue to attract investors and add shares as you add assets, but that doesn't look like it's possible with this model.  Was that a conscious choice to go closed-end, or were you limited by what the Nxt platform would allow? If it was conscious, I'm curious about the reasoning behind it.  It seems like it could be more value-generating to go open-end, then when you get large enough to dilute the effectiveness, close it to new investors.

Thanks for helping me out, if you get the time to respond.  If not, no worries.  Impressive!!!

i can find more info in here jl777.org but i can't find ANN  :-[

https://nxtforum.org/news-and-announcements/poloniex-to-list-jl777hodl-(jlh)-in-first-ever-crypto-asset-listing/

So how do i withdraw successfully from poloniex to my nxt account? Do i have to have ntx to cover the fee? It shows "0+1" but it is not logged in the transactions tab. btw, my nxt account is empty. Do i have to buy nxt in order for the transaction to be accepted? I've just send 2 jhl to test it and i've ot this. Glad i didn't withdraw the whole...

Hey, guys. I don't hold JLH, but I am a big fan of NXT and the SAE.  I have a question:

how did you get your Poloniex listing -- BTC/JLH? That is, did you guys have to write code? Or did Poloniex? Or?

Thanks, and good luck.

Mark (IndiaMikeZulu), Australia

That's great news. Transferring assets between poloniex and NXT wallet works flawlessely

Assets are so much ;D

Is this project abandoned? :o

I don't think so, the coin is active on exchange ..

No. This is an asset that holds other assets (like an investment fund) so can't really be 'abandoned'. It just tracks how the other assets are doing.

See: http://nxtreporting.com/?as=6932037131189568014

The asset description states that the holding account of jl777hodl is NXT-2AHU-UXZW-K9Q2-HENLW. Checking in this account...

http://nxtreporting.com/?a=NXT-2AHU-UXZW-K9Q2-HENLW&c=USD

... it lists the 32 owned assets under 'My Assets' and the account is worth 45'426'145.36 NXT (or 4.54 NXT per asset). Depending on how you value the assets and your risk appetite, the current price of 3.75NXT could be seen attractive with a +20% upside to fair value. This assumes that the market agrees with your valuation.

It is all transparent if you follow the published info.

It seems that this topic is not being updated? :o

You can ask questions on Nxtforum e.g. https://nxtforum.org/asset-exchange-general/jl777hodl-asset-question/msg108977/#msg108977
But you will get answers here too.


But what updates are you expecting? This is an asset that invests in other assets, designed to be buy and hold.

You can see the price and performance of jl777hodl (the asset) on any of the Nxt block explorers. e.g. http://nxtreporting.com/?as=6932037131189568014
And you can see the value of jl777hodl hodlings (what it is invested in) in the same place, the asset description gives the account reference. e.g. http://nxtreporting.com/?a=+NXT-2AHU-UXZW-K9Q2-HENLW&c=USD

Unadjusted value of jl777 hodlings is about 4 Nxt per share, price of jl777hodl is about 3 Nxt per share. There are even services that will email you if a transaction takes place on these accounts so you can get live updates on trading.

What more do you need to know?

There are still a lot of things happening with JLH/NXT AE jl777hodl.

Nxt forum is a great place to learn more: https://nxtforum.org/index.php?topic=4844.msg138758#msg138758

One major highlight is the sweet lottery for new share purchasers before the end of the year.  1st place is 100k NXT, 2nd place is 50k NXT and 3rd place is 25k NXT.

Here are some details from the Supernet newsletter:
JLH - THE LOTTERY

A lottery has been announced. For each 100 jl777hodl bought from the NXT-PY3K-SDTG-PHTV-GLYDA account sell wall on NXTAE, 1 lottery ticket is issued.

JLH has asset ID 6932037131189568014. Only assets bought from the GLYDA account are eligible.

Prizes will be paid to 3 holders: 100,000 NXT for 1st prize, 50,000 NXT for 2nd and 25,000 NXT for 3rd. Anybody has the same chance per 100 JLH, whether they buy 100 or 10,000 assets. The lottery will include historic purchases (from GLYDA), with the eligibility period stretching from November 1 to December 31. 

James writes, ‘With the fiat value of 100 JLH being around $6, it is a pretty good payout ratio for the 100,000 NXT prize and everyone is basically getting three tickets per 100 JLH! This is because you can win all three prizes with just one batch of 100 JLH.’

Winning tickets will be randomly selected via the SHA256 of a random phrase selected early in the process. Based on James' Telepathy protocol calculation, the closest buyer's txid will receive 1st prize, and so on. Ties will share the prize for the place won. Prizes will be award during the first week of 2015. Measures have been taken to avoid gaming the system, and if you sell from your GLYDA batch, you will lose your tickets.

There are currently JLH shares for sale at a lower price than the GLYDA sell wall, so be sure to buy from NXT-PY3K-SDTG-PHTV-GLYDA if you want a ticket to the lottery.

More on JLH...

As announced in the previous newsletter, JLH will be the reference asset for InstantDEX asset trades.

A new JLH newsletter will focus on the JLH asset. You can read an introduction to the asset, the team and the JLH market making here: http://nxter.org/jlh-jl777hodl-description-and-introduction/

Also, libertynow writes: ‘There will be monthly bonuses starting in January. After the massive dividend lottery the monthly bonuses will be for all shareholders and will come from NXT dividends of underlying assets.’


More info can be found here: https://nxtforum.org/index.php?topic=4844.msg141843#msg141843

Feel free to PM me or just continue on this thread if you have more questions.

There are less than 12 hours left for purchasing jl777hodl dividend lottery tickets.  Price is 4.1NXT.  100 shares = 1 ticket.  There are 2383 tickets left.   

ALSO, Mises_77 is adding an EXTRA 25 share bonus for the next 20 people who purchase at least 5 tickets before the lottery ends.   Send NXT to NXT-PY3K-SDTG-PHTV-GLYDA for ticket purchases.  1st=100k, 2nd=50k, 3rd=25k. 

Remember do NOT transfer or sell your ticket shares until AFTER the drawing or those tickets will not be valid.  May the lotto seed be with you and Happy New Year!

Thanks everyone for playing.

Winners are:
1st = NXT-CFAC-JAFV-VFV4-9BBY8
2nd = NXT-QEQH-RK3U-BBDS-BZ5BZ
3rd = NXT-QB7Q-2VEM-M7E6-5YXA8

http://jnxt.org/init/?webcmd=SuperNET&requestType=lotto&asset=6932037131189568014&refacct=NXT-PY3K-SDTG-PHTV-GLYDA&lottoseed=GLYDA&prizefund=100000
http://jnxt.org/init/?webcmd=SuperNET&requestType=lotto&asset=6932037131189568014&refacct=NXT-PY3K-SDTG-PHTV-GLYDA&lottoseed=GLYDA2&prizefund=50000
http://jnxt.org/init/?webcmd=SuperNET&requestType=lotto&asset=6932037131189568014&refacct=NXT-PY3K-SDTG-PHTV-GLYDA&lottoseed=GLYDA3&prizefund=25000

I just realized I have about 2000 units of this asset on my Poloniex account but it was delisted some time ago. Is there any other place where it can be traded?