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[ANN] Jinn
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Author Topic: [ANN] Jinn  (Read 330548 times)

msin

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Re: [ANN] Jinn
« Reply #260 on: September 25, 2014, 04:20:00 pm »

it hit there a while back, last night i think.. dont think its going to go much higher..  would be perfect timing i think..

cfb? ;)

I don't decide such things. I prefer to stay away of questions that I don't understand.

That's what I'm afraid of, if CFB isn't in charge of this, then it can go much higher because we don't know the money motivation of Triangle.

+1.. on the other hand perhaps its a good thing cfb isnt in control of financial aspects of the company.. it could turn into a not-for-profit organization lol its both good and bad imo. what worries me is that "triangle" i dont think has ever been seen in these forums before. what history do you have with him cfb? what has cause him to gain your trust enough to control the financial aspects of the company?

I can assure everyone that our only motivation is to get Jinn released and benefit all asset holders in the future. If we raised too little now and ran out of capital, everyone would just lose their nxt, which is obviously not something anyone wants. The selling price is based on our calculations of what it will cost to meet the milestones in order to ensure that the project is bootstrapped and evolves efficiently on schedule.

Also be assured that everyone in Triangle is in agreement of the selling price, so the decision is made after careful considerations and complete agreement by everyone involved :)

That's great and all, but you are only giving up 10%, which is small, and so there should be some advantages for people bidding here independent of what you "need" to bootstrap.  Since you have a specific # in mind, why not just tell everyone what the # is and sell the asset for that price?
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kodtycoon

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Re: [ANN] Jinn
« Reply #261 on: September 25, 2014, 04:22:00 pm »

it hit there a while back, last night i think.. dont think its going to go much higher..  would be perfect timing i think..

cfb? ;)

I don't decide such things. I prefer to stay away of questions that I don't understand.

That's what I'm afraid of, if CFB isn't in charge of this, then it can go much higher because we don't know the money motivation of Triangle.

+1.. on the other hand perhaps its a good thing cfb isnt in control of financial aspects of the company.. it could turn into a not-for-profit organization lol its both good and bad imo. what worries me is that "triangle" i dont think has ever been seen in these forums before. what history do you have with him cfb? what has cause him to gain your trust enough to control the financial aspects of the company?

I can assure everyone that our only motivation is to get Jinn released and benefit all asset holders in the future. If we raised too little now and ran out of capital, everyone would just lose their nxt, which is obviously not something anyone wants. The selling price is based on our calculations of what it will cost to meet the milestones in order to ensure that the project is bootstrapped and evolves efficiently on schedule.

Also be assured that everyone in Triangle is in agreement of the selling price, so the decision is made after careful considerations and complete agreement by everyone involved :)

That's great and all, but you are only giving up 10%, which is small, and so there should be some advantages for people bidding here independent of what you "need" to bootstrap.  Since you have a specific # in mind, why not just tell everyone what the # is and sell the asset for that price?

+1.. if its much above where it is now, then imo that would be over valuing it somewhat considering the risk the investors are taking..
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buybitcoinscanada

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Re: [ANN] Jinn
« Reply #262 on: September 25, 2014, 04:33:58 pm »

A
« Last Edit: October 15, 2014, 11:05:23 pm by buybitcoinscanada »
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gs02xzz

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Re: [ANN] Jinn
« Reply #263 on: September 25, 2014, 04:34:33 pm »

That's great and all, but you are only giving up 10%, which is small, and so there should be some advantages for people bidding here independent of what you "need" to bootstrap.  Since you have a specific # in mind, why not just tell everyone what the # is and sell the asset for that price?

If so, you will not pay as much attention to it as you do now and buzz will be much smaller and small fish may not have much chance to buy. ;D

And it is not a bad way to do the first promotion.
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msin

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Re: [ANN] Jinn
« Reply #264 on: September 25, 2014, 04:51:14 pm »

That's great and all, but you are only giving up 10%, which is small, and so there should be some advantages for people bidding here independent of what you "need" to bootstrap.  Since you have a specific # in mind, why not just tell everyone what the # is and sell the asset for that price?

If so, you will not pay as much attention to it as you do now and buzz will be much smaller and small fish may not have much chance to buy. ;D

And it is not a bad way to do the first promotion.

Yes, I agree, I don't mean to be negative, but I also think that many people are already priced out.  Anyway, it's a good use of AE and an interesting model for IPO. 
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bitme

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Re: [ANN] Jinn
« Reply #265 on: September 25, 2014, 04:56:26 pm »

WARNING

Someone just issued another "Jinn" Asset, make sure you are bidding on the right one.

3061160746493230502
NXT-Q4N3-V2QJ-S3GT-FW4Z9

i forged block with fake Jinn.+1000 NXT for me, -1000 for the scammer. Hope that's all he gets;)
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nexern

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Re: [ANN] Jinn
« Reply #266 on: September 25, 2014, 04:58:35 pm »

even if most of you know it but just to be clear regarding the bid ladder.

the bid ladder doesn't indicate any price, because triangle hasn't announced
any ask range nor they are bounded to place the 100k shares in full in any case.

however, while this view was original built to get a quick overview for partial fillings
and a feeling for liquidity, it is usefull as an orientation to locate a threshold/floor price
in case triangle decide to place the maximum 100k shares because they are
satisfied by the amount in total at this price level but they could even set a much higher
ask and sell the remaining shares at the secondary market.

i use it just to watch this theoretical floor price rising (interest measure) and to estimate a
well balanced bid within major price/volume distribution but not more.

said that just to prevent dissapointments by new investors thinking a bid just over floor means
they are in for sure, which isn't the case, if i interpret this dutch auction correctly.

(btw. this reminds me to add a disclaimer to the explorer, you never know ;-)
« Last Edit: September 25, 2014, 05:00:48 pm by nexern »
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Pilot

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Re: [ANN] Jinn
« Reply #267 on: September 25, 2014, 05:01:39 pm »

Yes, every winning bid will pay the same price as is standard procedure in dutch auction.

Really?? So, if I put a buy order for 100 shares at 10000 NXT each I'm very sure to receive my 100 shares (because I am at the top of the list), but I will get them for maybe only 50 NXT each?? That does not make sense to me, or did I get something wrong?


In a dutch auction you NEVER pay MORE than you bid, but you might pay less.

Easy, peasy.

The AE won't execute this way though, if someone puts an Ask in an there are higher bids, I'm pretty sure the AE will clear the Ask at the higher bid price. (I could be wrong though).
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gs02xzz

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Re: [ANN] Jinn
« Reply #268 on: September 25, 2014, 05:07:23 pm »

The AE won't execute this way though, if someone puts an Ask in an there are higher bids, I'm pretty sure the AE will clear the Ask at the higher bid price. (I could be wrong though).

They will refund your surplus back to you later.
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2Kool4Skewl

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Re: [ANN] Jinn
« Reply #269 on: September 25, 2014, 05:12:18 pm »

Ok, so, CfB is behind the technical innovation and programming.  What are uniqueorn and wesleyh roles?

What is the internal company share split between the founders?
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gs02xzz

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Re: [ANN] Jinn
« Reply #270 on: September 25, 2014, 05:15:20 pm »

Yes, I agree, I don't mean to be negative, but I also think that many people are already priced out.  Anyway, it's a good use of AE and an interesting model for IPO.

Your point has some insight as well. If this auction takes too long time people will become impatient and resent, which is not good for the promotion.
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Pilot

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Re: [ANN] Jinn
« Reply #271 on: September 25, 2014, 05:20:10 pm »

Triangle, if you sell Jinn for 4 billion dollars and CFB owns 100k tokens will he receive 400 million dollars?

No, we'll give him about three fiddy.

Yes, of course he will.

And the same for the asset holders who purchase their assets via AE.

But you said the assets are not an equity share.

So, it sounds like these are like a preferred stock share of the company. No voting rights, dividend based on profits and equity share. Which means, if someone buys the company, they must buy out the preferred stock holders.

Is that not correct?
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msin

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Re: [ANN] Jinn
« Reply #272 on: September 25, 2014, 05:54:14 pm »

Ok, so, CfB is behind the technical innovation and programming.  What are uniqueorn and wesleyh roles?

What is the internal company share split between the founders?

Didn't know uniqueorn or wesleyh were involved, was a list of founders listed somewhere?
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Triangle

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Re: [ANN] Jinn
« Reply #273 on: September 25, 2014, 05:55:31 pm »

Triangle, if you sell Jinn for 4 billion dollars and CFB owns 100k tokens will he receive 400 million dollars?

No, we'll give him about three fiddy.

Yes, of course he will.

And the same for the asset holders who purchase their assets via AE.

But you said the assets are not an equity share.

So, it sounds like these are like a preferred stock share of the company. No voting rights, dividend based on profits and equity share. Which means, if someone buys the company, they must buy out the preferred stock holders.

Is that not correct?

Correct!
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Triangle

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Re: [ANN] Jinn
« Reply #274 on: September 25, 2014, 06:04:40 pm »

Ok, so, CfB is behind the technical innovation and programming.  What are uniqueorn and wesleyh roles?

What is the internal company share split between the founders?

CfB is definitely the innovator and lead programmer at the moment. Naturally as we are hiring more devs, there will spring out innovation from these people too. But currently he's *the* innovator, yes.

Wesleyh is front-end developer and proof-of-concept developer, as well as advisor on Abracadabra

David/uniqueorn is the organizer / manager of the project in charge of everything from research and prospectus to hiring and allocation of resources.

Naturally there is a lot of overlap in any startup project. But those are roughly the tasks of the core. We have already started bringing onboard more people that will be disclosed soon who is taking care of other developmental issues.
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gs02xzz

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Re: [ANN] Jinn
« Reply #275 on: September 25, 2014, 06:07:52 pm »

David/uniqueorn is the organizer / manager of the project in charge of everything from research and prospectus to hiring and allocation of resources.

Is Triangle David?
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2Kool4Skewl

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Re: [ANN] Jinn
« Reply #276 on: September 25, 2014, 06:10:50 pm »

What is the internal company share split between the founders?
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We are the descendants of Bitcoin.  We are the continuation of the cause it started, but that perished with its centralization.
An economic system is a manifestation of an ideology.  What was lost, we shall reclaim.
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Triangle

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Re: [ANN] Jinn
« Reply #277 on: September 25, 2014, 06:15:26 pm »

David/uniqueorn is the organizer / manager of the project in charge of everything from research and prospectus to hiring and allocation of resources.

Is Triangle David?

Yes, I am.

What is the internal company share split between the founders?

It's been mentioned earlier, but it's 1/3 each of what's left when we're at completion of Jinn processor launch.
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2Kool4Skewl

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Re: [ANN] Jinn
« Reply #278 on: September 25, 2014, 06:34:06 pm »

What is the internal company share split between the founders?

It's been mentioned earlier, but it's 1/3 each of what's left when we're at completion of Jinn processor launch.

So, it's currently 30% for each member.  Do you plan on expanding the float at a later date?
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We are the descendants of Bitcoin.  We are the continuation of the cause it started, but that perished with its centralization.
An economic system is a manifestation of an ideology.  What was lost, we shall reclaim.
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

rtrtcrypto

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Re: [ANN] Jinn
« Reply #279 on: September 25, 2014, 06:59:02 pm »

You need to clarify/update this on the JINN website - it reads now as if share holders would get profits ONLY and not any compensation in the event of a sale. Make it clear that the acquiring company would be forced to buy out the shareholders who come on board now - that is pretty huge here.


Triangle, if you sell Jinn for 4 billion dollars and CFB owns 100k tokens will he receive 400 million dollars?

No, we'll give him about three fiddy.

Yes, of course he will.

And the same for the asset holders who purchase their assets via AE.

But you said the assets are not an equity share.

So, it sounds like these are like a preferred stock share of the company. No voting rights, dividend based on profits and equity share. Which means, if someone buys the company, they must buy out the preferred stock holders.

Is that not correct?

Correct!
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