rlh
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December 01, 2015, 09:30:40 PM |
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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. EDITI 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.
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A Personal Quote on BTT from 2011: "I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00. Otherwise I'll just have to live with my 5 BTC and be happy. :/" ...sigh. If only I knew.
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titan20
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December 01, 2015, 09:38:26 PM |
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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?
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Come-from-Beyond
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December 01, 2015, 09:43:37 PM |
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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.
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bottlerocket
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December 01, 2015, 10:02:19 PM |
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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.
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Come-from-Beyond
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December 01, 2015, 10:04:54 PM |
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Where all these 1 post users come from?..
@bottlerocket, nothing personal, just curious.
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titan20
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December 01, 2015, 10:31:28 PM |
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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?
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Come-from-Beyond
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December 01, 2015, 10:45:01 PM |
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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.
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jelin1984
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December 01, 2015, 11:45:48 PM |
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Can anyone tell again
How we can buy iotas?
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Blocktree
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December 02, 2015, 02:26:50 AM |
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NXT was threw away.LOL Being DEAD.
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Blocktree
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December 02, 2015, 02:32:52 AM |
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Another,did you all know who is this newbie guy?
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Come-from-Beyond
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December 02, 2015, 05:48:58 AM |
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Can anyone tell again
How we can buy iotas?
It's written in the starting post.
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wizzardTim
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Reality is stranger than fiction
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December 02, 2015, 09:42:30 AM |
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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?
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Behold the Tangle Mysteries! Dare to know It's truth.
- Excerpt from the IOTA Sacred Texts Vol. I
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Come-from-Beyond
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December 02, 2015, 09:43:27 AM |
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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.
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AltcoinScamfinder
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December 02, 2015, 12:15:24 PM |
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Only thing i don't like is the connection to NXT.
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FOR RENT.
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Come-from-Beyond
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December 02, 2015, 12:16:36 PM |
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Only thing i don't like is the connection to NXT.
Where is the connection to Nxt?
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AltcoinScamfinder
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December 02, 2015, 12:47:53 PM |
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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.
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FOR RENT.
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Come-from-Beyond
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December 02, 2015, 12:49:22 PM |
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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.
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Come-from-Beyond
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December 02, 2015, 12:51:24 PM |
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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.
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AltcoinScamfinder
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December 02, 2015, 01:28:35 PM |
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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.
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FOR RENT.
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