IOTA Crowdsale

[rlh]

34328 JINN have been sent, 34% of all sold in IPO. Which are worth 216,26 btc

+ 280.76 in btc directly.

Almost 500 btc milestone achieved for IOTA ICO.

I had considered trading in a few of my JINN to pad my IOTA holdings but after seeing the response there is NO WAY I'm giving up my JINN assets.  This is over 1/3 of all public JINN assets, given back to Triangle.  Triangle has done a good job buying back public shares and, in my opinion, this both proves they are quite hopeful of their project AND they want their shares back!

I think I'm going to empty my Nxt reserves in buying into JINN and holding both this and IOTA.  You can't remove +33% of a market and not expect it to have a net-positive reflection in price (assuming you believe the asset is legit.)

I am not so hopeful. The fact that more than 30% of ALL Jinn are invested in the ICO means that even at current rate close to half of all Jinn owners would rather trade them out for BTC (or BTC equivalent asset) at a price under market price, than hold them.

And what will happen in the illiquid Jinn market if the IOTA team needs to cash out. 200+ BTC worth of Jinn would in the current market absolutely destroy the price (If there is even buyers for anything close to that amount).

I am really wondering why the IOTA team decided to accept such an illiquid asset as a means for payment. I am really hoping they have a good reason.

I assume you're not paying attention to the Nxt blockchain and the mentioned JINN asset.  As outlined from the beginning, Triangle create 1,000,000 JINN tokens and sold to the public (through a dutch auction) 10% of these profit-shares (or whatever they legally need to call them.)

If JINN/Triangle were a scam, and had they intended to dump assets on the order book, they have more than enough shares to clear it out, take all of the Nxt and run to the nearest exchanges to cash out some BTC.  

They don't need to buy back these shares.  They've increased their profit stake from 90% to ~93.4%.  That ~3.4% isn't of much use unless they are trying to buy back portions of their company (or, err, profits) because they see value in taking back as much of the public holdings as they can.

EDIT

I take no issue with this, and I personally think it's a smart move on their part.  They're creating a fair mechanism to buy back assets from the "weak hands" by handing over to them an asset that will very-likely increase in value immediately as soon as the software is delivered and IOTA is listed on the first major exchange.

[titan20]

Crowdsale is a different way to say ICO?

No, we sell software, ICO stands for Initial Coin Offering.

So IOTA is a software sale? Could say buying IOTA's is like buying shares in a software company?

If yes, will you get dividend payments?

[Come-from-Beyond]

So IOTA is a software sale? Could say buying IOTA's is like buying shares in a software company?

If yes, will you get dividend payments?

Yes. No.

N/a.

[bottlerocket]

I am not so hopeful. The fact that more than 30% of ALL Jinn are invested in the ICO means that even at current rate close to half of all Jinn owners would rather trade them out for BTC (or BTC equivalent asset) at a price under market price, than hold them.

While there might good reasons  to sell the JINN Assets and to realize the 5 time ROI, i think the swap with Jinn tokens is a risky idea. Jinn holders get profits from hardware sales, the buyer of IOTA token get only the token but nothing  from the hardware sales etc. even if substantial amounts of the raised funds will go into the  further development of the Jinn processor.

And what will happen in the illiquid Jinn market if the IOTA team needs to cash out. 200+ BTC worth of Jinn would in the current market absolutely destroy the price (If there is even buyers for anything close to that amount).

Do they need to cash out? Do they need to do it in  only a few days? Maybe the BTC will go to developers which will hold them?
I think the IPO/crowdsale  was prematurea and with something presentable the would have collected more solid funds but thats their decision.

[Come-from-Beyond]

Where all these 1 post users come from?..

@bottlerocket, nothing personal, just curious.

[titan20]

Crowdsale is a different way to say ICO?

No, we sell software, ICO stands for Initial Coin Offering.

So IOTA is a software sale? Could say buying IOTA's is like buying shares in a software company?

If yes, will you get dividend payments?

Yes. No.

N/a.

I don't get it.
IOTA tokens are peaces of software? Or do you need the IOTA tokens to buy the new software you are developing?

[Come-from-Beyond]

I don't get it.
IOTA tokens are peaces of software? Or do you need the IOTA tokens to buy the new software you are developing?

You need iotas to use services running Iota software.

[jelin1984]

Can anyone tell again

How we can buy iotas?

[Tobo]

Can anyone tell again
How we can buy iotas?

All info is on the first post of this thread - https://bitcointalk.org/index.php?topic=1262688.0

[Blocktree]

1G8hh3bHMMhZSATwisBVbGFSYBKK3Suib8

Feel free to support the development by sending donations to 125EJ3HYXNZ8swr2UBcvKNBV2voAYACFu9.

https://blockchain.info/hu/tx/646b5b7d51ed3576441446f4d6938746e485017f4ac4795fd6aa8bdb1527c606


second scam bcnext confirmed

NXT was threw away.LOL
Being DEAD.

[Blocktree]

1G8hh3bHMMhZSATwisBVbGFSYBKK3Suib8

Feel free to support the development by sending donations to 125EJ3HYXNZ8swr2UBcvKNBV2voAYACFu9.

https://blockchain.info/hu/tx/646b5b7d51ed3576441446f4d6938746e485017f4ac4795fd6aa8bdb1527c606


second scam bcnext confirmed

Another,did you all know who is this newbie guy?

[Come-from-Beyond]

Can anyone tell again

How we can buy iotas?

It's written in the starting post.

[wizzardTim]

If I recall well, we can send more than 1 tx from the same address and the amount will be added to the total previous, right?

[Come-from-Beyond]

If I recall well, we can send more than 1 tx from the same address and the amount will be added to the total previous, right?

Yes.

[AltcoinScamfinder]

Only thing i don't like is the connection to NXT.

[Come-from-Beyond]

Only thing i don't like is the connection to NXT.

Where is the connection to Nxt?

[AltcoinScamfinder]

Only thing i don't like is the connection to NXT.

Where is the connection to Nxt?

If I am not mistaken the Jinn and NXT team are fairly integral to the project? I am categorically against project that involves the NXT team due to the NXT ICO setup. I may of course be wrong, and if so I would be happy to be corrected.

[Come-from-Beyond]

To those who send BTC without fee: Make sure you can spend the same coins again or you may get into a situation when you get no iotas because your transaction is not confirmed but it will pass through eventually after the sale ends.

[Come-from-Beyond]

If I am not mistaken the Jinn and NXT team are fairly integral to the project? I am categorically against project that involves the NXT team due to the NXT ICO setup. I may of course be wrong, and if so I would be happy to be corrected.

I was in Nxt team for quite long, almost a year. So you are right.

[AltcoinScamfinder]

If I am not mistaken the Jinn and NXT team are fairly integral to the project? I am categorically against project that involves the NXT team due to the NXT ICO setup. I may of course be wrong, and if so I would be happy to be corrected.

I was in Nxt team for quite long, almost a year. So you are right.

Ok, well I was around for the NXT 'ICO' back in the day and if I remember correctly it was at launch the most centralized currency in the world with under 10 contributors and a return of investment of something like 1500x initial BTC. Ever since ICO the NXT contributors have spend considerable time turning their Millions of USD into other projects and it just leaves a bad taste in my mouth. Not saying it's a scam or anything, just don't feel that the practice was really sound.