[ANN] JLH : the first ever crypto-asset listing on Poloniex: jl777hodl

[EvilDave]

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

[SecondsOld]

I don't get it.

[Daedelus]

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   

[EvilDave]

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

[Mainbrain]

wheres the more information about this coin.as a invester i need to understand my investment.

thx Dev's hard work.

[shojayxt]

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.

[BTMan]

not a coin ANN!

[EvilDave]

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......

[Daedelus]

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.

[EvilDave]

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]

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

[mana6]

the coin are look like good

[DudeAtWork420]

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

[EvilDave]

jl777hodl got a meme:

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

[spuushie]

Help!

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

[jl777]

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.

[Juicemixer]

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.

[spuushie]

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.

TY

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

[aws]

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

[Daedelus]

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