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Author Topic: Jl777hodl Asset Question  (Read 3884 times)

randombit

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Jl777hodl Asset Question
« on: September 22, 2014, 06:24:17 pm »

Hello,

Ive a question about the value of Jl777hodl Asset. I dont  understand what realy gives the Asset a value. At first i thought it is a Fund without partizipation of Dividends but a ownership of the assets inside, mathemathcly it would be great but it isnt even that.

So normaly, everywhere on the Financial Market one Asset of a Fund would represent a value because of the generated Divididends of the Fund Assets or it has a value because you become Ownership of the part of holding shares.

Now, if you dont get anything of these booth, the price doesent make any sense, its a trading of a asset without any value for the Investor. There is no benefit for the investor to hold them. I could be a price of 1nxt or 100 nxt without any real value, the Investor has only to find a new Investor Which belives in any value. 

So pls try to explain me what benefit holders of Jl777hodl recieve? Only the account of Jlhodl Asset rise, but the asset itself has no value, or am i wrong???

Thx
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jl777

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Re: Jl777hodl Asset Question
« Reply #1 on: September 22, 2014, 07:32:38 pm »

Hello,

Ive a question about the value of Jl777hodl Asset. I dont  understand what realy gives the Asset a value. At first i thought it is a Fund without partizipation of Dividends but a ownership of the assets inside, mathemathcly it would be great but it isnt even that.

So normaly, everywhere on the Financial Market one Asset of a Fund would represent a value because of the generated Divididends of the Fund Assets or it has a value because you become Ownership of the part of holding shares.

Now, if you dont get anything of these booth, the price doesent make any sense, its a trading of a asset without any value for the Investor. There is no benefit for the investor to hold them. I could be a price of 1nxt or 100 nxt without any real value, the Investor has only to find a new Investor Which belives in any value. 

So pls try to explain me what benefit holders of Jl777hodl recieve? Only the account of Jlhodl Asset rise, but the asset itself has no value, or am i wrong???

Thx
JLH value is the sum of the value of what it HODL's
http://nxtreporting.com/?a=NXT-2AHU-UXZW-K9Q2-HENLW&c=USD currently around 6 NXT per asset

it is like a closed end fund that is reinvesting any dividends, but I am also adding new assets to it without any cost to JLH when I can.

There is a provision for a swap of a large block of JLH for its proportional amount of holdings, but this is a manual process and requires burning any redeemed JLH. Also, I will put bids if the trading price goes significantly below NAV.

So the market has tended to trade JLH close to its NAV, with a bit of a delay as new assets are discovered to be added to it. I am not making any big deal about these additions or the NAV. I figure that people that are doing their homework are deserving to make some arbitrage profits

James
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FunBot

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Re: Jl777hodl Asset Question
« Reply #2 on: September 29, 2014, 12:55:42 am »

What % does the price have to be below NAV for you to consider placing a wall? And what amount of jl777hold is required for a swap?
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jl777

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Re: Jl777hodl Asset Question
« Reply #3 on: September 29, 2014, 01:00:16 am »

What % does the price have to be below NAV for you to consider placing a wall? And what amount of jl777hold is required for a swap?
no set rules, too many factors at play, especially with the number of holdings

the liquidation of JLH is done on case by case basis. It is a lot of work to do manual transfers of so many assets
100,000 would be the minimum, preferably more.
doing this has to send the JLH to genesis too, so hopefully not something that is done too often
if you have a large lot for sale, maybe a off exchange buyer can be found
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FunBot

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Re: Jl777hodl Asset Question
« Reply #4 on: September 29, 2014, 01:43:58 am »

What % does the price have to be below NAV for you to consider placing a wall? And what amount of jl777hold is required for a swap?
no set rules, too many factors at play, especially with the number of holdings

the liquidation of JLH is done on case by case basis. It is a lot of work to do manual transfers of so many assets
100,000 would be the minimum, preferably more.
doing this has to send the JLH to genesis too, so hopefully not something that is done too often
if you have a large lot for sale, maybe a off exchange buyer can be found

Thank you for the good answer.
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LibertyNow

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Re: Jl777hodl Asset Question
« Reply #5 on: December 19, 2014, 04:46:53 pm »

jl777hodl is running a promotion for any interested parties.  Here are the details:

JL777HODL (Asset #6932037131189568014) New Year's Day Dividend Lottery (Nov. 1, 2014 - Dec 31, 2014)

Every 100 assets purchased from account NXT-PY3K-SDTG-PHTV-GLYDA, will receive 1 lottery ticket to a massive end of the year dividend prize payout.
Prizes will be paid to the top 3 winners... 100,000NXT for 1st, 50,000NXT for 2nd and 25,000NXT for 3rd.
There will be a total of 5000 tickets available.
If successful, there will be an ongoing monthly dividend lottery.

Note from James:

The SHA256 of the SHA256 of the 100K prize is d7060caf1a82ebc0db7b78b8d4c8c6b253bb9dcbc2da235c378bd6731e6f761e

The lower 64 bits of what hashes to this will be the reference txid

for 50K prize: 2f8787ad9e58331fda47c487874f21360c5de0ade0fe043ae7353bb9a99b1b69
for 25K prize: 4f3af14c7df81beba936ae1374af8512cf85670e73631908399397a9ad8054d8

After the drawing I will reveal the lottophrases that generate these and everybody can verify that this is something that has been chosen as of now.

Since the lotto tickets will be calculated using a deterministic method, it allows anybody to verify that winners won it fairly

James

P.S. Please do not try to game the system. Any such things will burn your lotto tickets. NET purchases from the GLYDA account will be used, so transfering/selling to your own accts wont do you any good
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jeff jefferson

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Re: Jl777hodl Asset Question
« Reply #6 on: December 19, 2014, 05:42:58 pm »

Do the current holders of jlhold get some tickets or only the new buyers?
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jl777

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Re: Jl777hodl Asset Question
« Reply #7 on: December 19, 2014, 11:41:59 pm »

Do the current holders of jlhold get some tickets or only the new buyers?
purchases from GLYDA acct is how tickets are obtained. depending on when you got your JLH, maybe it qualifies.
some existing JLH holders are selling non-GLYDA JLH to buy from GLYDA, so there is advantage to having already had JLH

but the simplest is to buy from GLYDA and hodl
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whatnxt

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Re: Jl777hodl Asset Question
« Reply #8 on: December 20, 2014, 10:38:54 am »

Do the current holders of jlhold get some tickets or only the new buyers?
purchases from GLYDA acct is how tickets are obtained. depending on when you got your JLH, maybe it qualifies.
some existing JLH holders are selling non-GLYDA JLH to buy from GLYDA, so there is advantage to having already had JLH

but the simplest is to buy from GLYDA and hodl
So how do we purchase from GLYDA?
Current price around 40000 NXT for one share...
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jl777

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Re: Jl777hodl Asset Question
« Reply #9 on: December 20, 2014, 11:20:32 am »

Do the current holders of jlhold get some tickets or only the new buyers?
purchases from GLYDA acct is how tickets are obtained. depending on when you got your JLH, maybe it qualifies.
some existing JLH holders are selling non-GLYDA JLH to buy from GLYDA, so there is advantage to having already had JLH

but the simplest is to buy from GLYDA and hodl
So how do we purchase from GLYDA?
Current price around 40000 NXT for one share...
you buy JLH asset 6932037131189568014 from the acct ending in GLYDA: NXT-PY3K-SDTG-PHTV-GLYDA

you can PM libertynow to buy direct from him if not available on orderbook
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jl777

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Re: Jl777hodl Asset Question
« Reply #10 on: December 22, 2014, 05:10:48 am »

   cJSON *gen_lottotickets_json(uint64_t seed,int32_t numtickets)
{
cJSON *array = cJSON_CreateArray();
int32_t i;
bits256 hash,tmp;
uint64_t ticket = seed;
char numstr[64];
memset(&hash,0,sizeof(hash));
hash.txid = seed;
for (i=0; i<numtickets; i++)
{
sprintf(numstr,"%llu",(long long)ticket), cJSON_AddItemToArray(array,cJSON_CreateString(numstr));
tmp = sha256_key(hash);
ticket = tmp.txid;
hash = tmp;
}
return(array);
}
12:18:06   <jl777>   the above is the hash chain code
12:19:08   <jl777>   curl -k --data-binary '{"jsonrpc": "1.0", "id":"curltest", "method": "SuperNET", "params": ["{\"requestType\":\"lotto\",\"refacct\":\"NXT-PY3K-SDTG-PHTV-GLYDA\",\"asset\":\"6932037131189568014\"}"] }' -H 'content-type: text/plain;' https://127.0.0.1:7777/
12:19:38   <jl777>   just pushed version with "lotto" API, still without fancy things, just to make sure the results look sane
12:20:35   <jl777>   this will be used to determine the winner, the source is in github.com/jl777/libjl777/blob/master/lotto.h
12:21:13   <jl777>   the above will be the official draw method, regardless if there are bugs found, so if there are any bugs let me know and I will fix them
12:21:41   <jl777>   it is currently only 150 lines of code, but probably will double in side to do the burning properly

I plan to do the drawing for the 3rd prize first, then the 2nd prize, the the 1st prize.
Probably about a day between drawings

James
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