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[ANN] Coinomat.com
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Author Topic: [ANN] Coinomat.com  (Read 170039 times)

xibeijan

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Re: [ANN] Coinomat.com
« Reply #400 on: November 05, 2014, 08:36:05 am »

A merge is a simple enough process.
New Asset with 4M shares, send your coinomat and 1 shares and get combo shares.
Dividends can be paid out to all held shares for the duration of the swap.
Will cost a small amount in fees, but the stability would supercede that.

It isn't as simple as you think in practice. There are lots of hodlers and therefore quite inactive. I agree with coinomat - if there isn't an explicit reason, don't swap.

I've seen it done before and it was done within 3 days.  Not a problem at all.  There simply needs to be a cut off time.  People do watch their shares in crypto!
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futurist

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Re: [ANN] Coinomat.com
« Reply #401 on: November 05, 2014, 08:39:23 am »

If someone forgets to swap, what should we do? There has to be a serious reason to merge assets I think.  We can do it if people really need it.
A merge is a simple enough process.
New Asset with 4M shares, send your coinomat and 1 shares and get combo shares.
Dividends can be paid out to all held shares for the duration of the swap.
Will cost a small amount in fees, but the stability would supercede that.

Excellent question coinomat. Not only do I think it will it help with the stability, I think it would also help the price increase. I believe the arbitrage between coinomat and coinomat1 has been holding this asset back. As an investor I don't see this solution as a problem. I see it more as an early NXT asset issuer problem.

P.S. There WILL be people who are late and don't redeem coinomat and coinomat1 for the new token. Due to your record of handling things properly, I personally trust you will make it right.

KarlKarlsson

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Re: [ANN] Coinomat.com
« Reply #402 on: November 05, 2014, 08:39:58 am »

A merge is a simple enough process.
New Asset with 4M shares, send your coinomat and 1 shares and get combo shares.
Dividends can be paid out to all held shares for the duration of the swap.
Will cost a small amount in fees, but the stability would supercede that.

It isn't as simple as you think in practice. There are lots of hodlers and therefore quite inactive. I agree with coinomat - if there isn't an explicit reason, don't swap.

I've seen it done before and it was done within 3 days.  Not a problem at all.  There simply needs to be a cut off time.  People do watch their shares in crypto!

The swap of superNET assets has been going on for over a month now...
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coinomat

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Re: [ANN] Coinomat.com
« Reply #403 on: November 05, 2014, 08:59:05 am »

Hmm guys if you really need an asset merge let's think about how we could do that. Let's launch MGW and SuperNET GUI release first, all right? So we don't get distracted.

But once again, don't you think that it will create a lot of confusion? Since there are gonna be THREE different coinomats at AE
Let's discuss this.
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futurist

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Re: [ANN] Coinomat.com
« Reply #404 on: November 05, 2014, 09:57:27 am »

A merge is a simple enough process.
New Asset with 4M shares, send your coinomat and 1 shares and get combo shares.
Dividends can be paid out to all held shares for the duration of the swap.
Will cost a small amount in fees, but the stability would supercede that.

It isn't as simple as you think in practice. There are lots of hodlers and therefore quite inactive. I agree with coinomat - if there isn't an explicit reason, don't swap.

I've seen it done before and it was done within 3 days.  Not a problem at all.  There simply needs to be a cut off time.  People do watch their shares in crypto!

The swap of superNET assets has been going on for over a month now...

and still getting redeemed...though less frequently

coinomat

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Re: [ANN] Coinomat.com
« Reply #405 on: November 05, 2014, 10:12:23 am »

A merge is a simple enough process.
New Asset with 4M shares, send your coinomat and 1 shares and get combo shares.
Dividends can be paid out to all held shares for the duration of the swap.
Will cost a small amount in fees, but the stability would supercede that.

It isn't as simple as you think in practice. There are lots of hodlers and therefore quite inactive. I agree with coinomat - if there isn't an explicit reason, don't swap.

I've seen it done before and it was done within 3 days.  Not a problem at all.  There simply needs to be a cut off time.  People do watch their shares in crypto!

The swap of superNET assets has been going on for over a month now...

and still getting redeemed...though less frequently
This is exactly my point, the process will be very lengthy in time, there's gonna be three coinomats, people will go crazy :)
Either we should come up with some sleek solution for this or there should be some serious reasons.
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tibidk

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Re: [ANN] Coinomat.com
« Reply #406 on: November 05, 2014, 10:52:53 am »

I see no point in merging. I agree about the confusing part.
I mean, what's so difficult to understand? There are 2 assets which should have the same value since they bring the same return. End of story.

Just my 2 NXT...
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Sebastien256

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Re: [ANN] Coinomat.com
« Reply #407 on: November 05, 2014, 03:19:39 pm »

hi coinomat,
What you think of this opportunity? It is about payexpo 2015 conference.

Just to correct the amount needed, it's a bit more that 300K: 354,610 Nxt

So we still need a bit more, but we're getting there :)

If you are a business and donate, please note that I will work hard to get you in there. Fair's fair and any of our businesses attending there would give a great signal to investers (It's a financial conference after all!) as to what Nxt can do.
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jefdiesel

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Re: [ANN] Coinomat.com
« Reply #408 on: November 05, 2014, 03:39:47 pm »

A merge is a simple enough process.
New Asset with 4M shares, send your coinomat and 1 shares and get combo shares.
Dividends can be paid out to all held shares for the duration of the swap.
Will cost a small amount in fees, but the stability would supercede that.

My comment was that the swap mechanics are easy. I agree the communication is more complicated

There would not be "three" coinomat assets, since CoinomatNEW would be equal to the first two assets.
No new CoinomatNEW shares would be offered for sale by the issuer, they would all be traded, and all redeemed older shares would be sent to genesis.

Set a deadline, and at the end of the deadline stop paying dividends to the old assets. The old assets can always be exchanged for new.

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chanc3r

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Re: [ANN] Coinomat.com
« Reply #409 on: November 05, 2014, 03:41:53 pm »


This is exactly my point, the process will be very lengthy in time, there's gonna be three coinomats, people will go crazy :)
Either we should come up with some sleek solution for this or there should be some serious reasons.

The driving mechanic is 'No Dividends' for old assets from a date...
This will make people redeem.
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th4o

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Re: [ANN] Coinomat.com
« Reply #410 on: November 05, 2014, 04:13:29 pm »


This is exactly my point, the process will be very lengthy in time, there's gonna be three coinomats, people will go crazy :)
Either we should come up with some sleek solution for this or there should be some serious reasons.

The driving mechanic is 'No Dividends' for old assets from a date...
This will make people redeem.
+1
One complete asset will simplify things. It's much more easy to understand for new people.
The redeem process probably needs up to a few month, but  in my opinion it's worth it
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coinomat

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Re: [ANN] Coinomat.com
« Reply #411 on: November 05, 2014, 08:44:10 pm »

A merge is a simple enough process.
New Asset with 4M shares, send your coinomat and 1 shares and get combo shares.
Dividends can be paid out to all held shares for the duration of the swap.
Will cost a small amount in fees, but the stability would supercede that.

My comment was that the swap mechanics are easy. I agree the communication is more complicated

There would not be "three" coinomat assets, since CoinomatNEW would be equal to the first two assets.
No new CoinomatNEW shares would be offered for sale by the issuer, they would all be traded, and all redeemed older shares would be sent to genesis.

Set a deadline, and at the end of the deadline stop paying dividends to the old assets. The old assets can always be exchanged for new.
But there will be three coinomats at nxtreporting, you can't avoid this.
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coinomat

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Re: [ANN] Coinomat.com
« Reply #412 on: November 05, 2014, 08:48:28 pm »



This is exactly my point, the process will be very lengthy in time, there's gonna be three coinomats, people will go crazy :)
Either we should come up with some sleek solution for this or there should be some serious reasons.

The driving mechanic is 'No Dividends' for old assets from a date...
This will make people redeem.
At least for some time there will be three different  assets which can be traded. A new user goes to nxtreporting and boom his mind is blown. what asset should he buy?
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jefdiesel

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Re: [ANN] Coinomat.com
« Reply #413 on: November 05, 2014, 09:03:31 pm »

A merge is a simple enough process.
New Asset with 4M shares, send your coinomat and 1 shares and get combo shares.
Dividends can be paid out to all held shares for the duration of the swap.
Will cost a small amount in fees, but the stability would supercede that.

My comment was that the swap mechanics are easy. I agree the communication is more complicated

There would not be "three" coinomat assets, since CoinomatNEW would be equal to the first two assets.
No new CoinomatNEW shares would be offered for sale by the issuer, they would all be traded, and all redeemed older shares would be sent to genesis.

Set a deadline, and at the end of the deadline stop paying dividends to the old assets. The old assets can always be exchanged for new.
But there will be three coinomats at nxtreporting, you can't avoid this.
Sure, during the process there will be three active assets, and users can buy and sell all of them.
But this process could be mostly done within 90 days. I see this asset having a lot longer life than 90 days ;)

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JanSako

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Re: [ANN] Coinomat.com
« Reply #414 on: November 05, 2014, 09:03:59 pm »

Is it possible to de-list an asset from AE? If yes, just set a deadline, and once it expires, remove the asset from trading and send all holders a message telling them to send you their remaining assets to be exchanged.
If it is not possible to de-list an asset, maybe it should be...
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jefdiesel

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Re: [ANN] Coinomat.com
« Reply #415 on: November 05, 2014, 09:35:39 pm »

Is it possible to de-list an asset from AE? If yes, just set a deadline, and once it expires, remove the asset from trading and send all holders a message telling them to send you their remaining assets to be exchanged.
If it is not possible to de-list an asset, maybe it should be...

it is not possible to delist yet, but there are advanced AE features coming with 2.0

Remember we're still less than 1year old, and there a LOT of future features to come. I have dug through the list of ALL Assets and there is already about 35% dead, expired, or inactive.
NXTreporting should not be the default reference for Assets.
It is up to the Assets themselves to manage their reporting, investor communication, and updates.
Web and blog posts can be authenticated with Tokens.

Investors with knowledge are much more capable investors.
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xibeijan

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Re: [ANN] Coinomat.com
« Reply #416 on: November 06, 2014, 12:47:05 am »

Is it possible to de-list an asset from AE? If yes, just set a deadline, and once it expires, remove the asset from trading and send all holders a message telling them to send you their remaining assets to be exchanged.
If it is not possible to de-list an asset, maybe it should be...

it is not possible to delist yet, but there are advanced AE features coming with 2.0

Remember we're still less than 1year old, and there a LOT of future features to come. I have dug through the list of ALL Assets and there is already about 35% dead, expired, or inactive.
NXTreporting should not be the default reference for Assets.
It is up to the Assets themselves to manage their reporting, investor communication, and updates.
Web and blog posts can be authenticated with Tokens.

Investors with knowledge are much more capable investors.

+1

Will asset merging or delisting be part of 2.0? If yes then maybe best to wait until then to merge.
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coinomat

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Re: [ANN] Coinomat.com
« Reply #417 on: November 06, 2014, 07:52:23 am »


Is it possible to de-list an asset from AE? If yes, just set a deadline, and once it expires, remove the asset from trading and send all holders a message telling them to send you their remaining assets to be exchanged.
If it is not possible to de-list an asset, maybe it should be...
No, you can't delist an asset unfortunately
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coinomat

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Re: [ANN] Coinomat.com
« Reply #418 on: November 06, 2014, 07:53:37 am »

Is it possible to de-list an asset from AE? If yes, just set a deadline, and once it expires, remove the asset from trading and send all holders a message telling them to send you their remaining assets to be exchanged.
If it is not possible to de-list an asset, maybe it should be...

it is not possible to delist yet, but there are advanced AE features coming with 2.0

Remember we're still less than 1year old, and there a LOT of future features to come. I have dug through the list of ALL Assets and there is already about 35% dead, expired, or inactive.
NXTreporting should not be the default reference for Assets.
It is up to the Assets themselves to manage their reporting, investor communication, and updates.
Web and blog posts can be authenticated with Tokens.

Investors with knowledge are much more capable investors.
NXTreporting should consider NOT listing dead assets.
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jefdiesel

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Re: [ANN] Coinomat.com
« Reply #419 on: November 06, 2014, 02:15:05 pm »

Is it possible to de-list an asset from AE? If yes, just set a deadline, and once it expires, remove the asset from trading and send all holders a message telling them to send you their remaining assets to be exchanged.
If it is not possible to de-list an asset, maybe it should be...

it is not possible to delist yet, but there are advanced AE features coming with 2.0

Remember we're still less than 1year old, and there a LOT of future features to come. I have dug through the list of ALL Assets and there is already about 35% dead, expired, or inactive.
NXTreporting should not be the default reference for Assets.
It is up to the Assets themselves to manage their reporting, investor communication, and updates.
Web and blog posts can be authenticated with Tokens.

Investors with knowledge are much more capable investors.
NXTreporting should consider NOT listing dead assets.
Dead is a temporary state. Unless a single shareholder owns 100% then the asset still needs to be considered potentially valid.

I imagine if we made a new coinomat asset with 4m shares and transferred those shares to each person who holds coinomat and 1 already,  we could then rightfully destroy the old shares,  even if people held them.
I say rightfully since our goal in this case would be to clarify holdings.


But unscrupulous issuers could change all kinds of things this way so we should be careful of what we wish for.
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