Topic: [ANN] Jinn (Read 418978 times)

Triangle · « **Reply #140 on:** September 24, 2014, 12:46:44 pm »

Quote from: Canaanite on September 24, 2014, 07:33:32 am

Quote from: Come-from-Beyond on September 24, 2014, 07:26:25 am
Quote from: mikesbmw on September 24, 2014, 07:17:29 am
Hi CfB,

will you make legal arrangements in your company to tie in the AE shares to real profit shares of your company or is this still based on trust?

I can answer only technical questions. If you want to get legal protection of your "investments" then you should take into account that I reside in Belarus which is out of reach of the USA and EU laws.

It doesn't matter...
Tax purposes, actual place, contacts, Incorporated company (with limited liability) and a lot more issues...
I know it will make me feel better to invest in such entity (even if its located at Belarus)

As investors in other projects on NXT AE, we understand your concern and we're working on it.
In the last months there are several people working on the legalities of connecting the decentralized exchange to the real world. Isle of Man is on it, SRO in Switzerland is on it, Overstock is doing it, SecureAE is doing it and so on. I am in talks with these people and as soon as it is viable, the legalities will be 100% sorted.

In the meanwhile, yes, there is the element of trust. It will be incorporated ASAP and we'll keep you updated on it. If you don't feel comfortable with the level of trust, we suggest you await.

Funkylump · « **Reply #141 on:** September 24, 2014, 01:02:51 pm »

What are your plans in terms of intellectual property?

Most crypto-based projects are open-source and create their revenue through the tokens they issue. However, this enterprise aims to manufacture physical goods and earn revenue by licensing Jiniri Unlimited.

It seems this will require significant intellectual property in order to retain ownership of the technology.

Do you have any patents pending or in place? If not, any specific plans to make anything proprietary anytime soon?

Triangle · « **Reply #142 on:** September 24, 2014, 01:03:33 pm »

Quote from: chanc3r on September 24, 2014, 11:50:11 am

Quote from: devphp on September 24, 2014, 11:41:59 am
Quote from: cc001 on September 24, 2014, 11:39:37 am
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?

There you go, a bidding war plan being conceived here

come on guys... the way it works is this...
once there are over 100k assets worth of bids and the BUY ladder is saturated.
the seller works down from the top of the ladder and submits a sell order at the optimum price (the dutch auction price!)
basically its a cool way for the seller to get the maximum (hopefully reasonable) initial market price to sell all the assets
rather than issuing shares at 10NXT to only see them trading at 50NXT and having missed an investment opportunity.

if there isn't enough demand the seller can still set an initial market floor for the assets by selling part way up the buy ladder.

done responsibly I do think its a way of getting more investment into the asset rather than the lucky speculators making a killing in early trading.

This is a good summary, but we actually chose it mainly because we wanted it to be democratic and fair. As you probably know, the biggest complaint with a lot of these projects, including NXT, is the early adopter issue. Of course this is never completely out of the equation, but this way everyone gets the same price.

And yes, we're happy to spice things up a bit with a new way of doing it.

Triangle · « **Reply #143 on:** September 24, 2014, 01:06:19 pm »

Quote from: nxtpoker on September 24, 2014, 08:51:26 am

Quote from: Come-from-Beyond on September 24, 2014, 08:42:29 am
Quote from: nxtpoker on September 24, 2014, 08:38:21 am
whats to sop them from swiping and running to the patent office with a goon of lawyers? Anybody on your team thinking defensively?

This is not a technical question, I can't answer it, sorry.

touche...I guess you guys got it covered if not, well at least yall will start to think about it.

We're definitely thinking about it and it's steps that will be taken when necessary.

Triangle · « **Reply #144 on:** September 24, 2014, 01:11:48 pm »

Quote from: Funkylump on September 24, 2014, 01:02:51 pm

What are your plans in terms of intellectual property?

Most crypto-based projects are open-source and create their revenue through the tokens they issue. However, this enterprise aims to manufacture physical goods and earn revenue by licensing Jiniri Unlimited.

It seems this will require significant intellectual property in order to retain ownership of the technology.

Do you have any patents pending or in place? If not, any specific plans to make anything proprietary anytime soon?

Yes, Jiniri Unlimited will be licensed as a service, so this will be our intellectual property (not open source).
This is a balancing act between Jiniri being open source and allowing any developer to partake and develop for it, but while securing the business side.

humbot · « **Reply #145 on:** September 24, 2014, 01:24:14 pm »

Quote from: Triangle on September 24, 2014, 01:11:48 pm

Quote from: Funkylump on September 24, 2014, 01:02:51 pm
What are your plans in terms of intellectual property?

Most crypto-based projects are open-source and create their revenue through the tokens they issue. However, this enterprise aims to manufacture physical goods and earn revenue by licensing Jiniri Unlimited.

It seems this will require significant intellectual property in order to retain ownership of the technology.

Do you have any patents pending or in place? If not, any specific plans to make anything proprietary anytime soon?

Yes, Jiniri Unlimited will be licensed as a service, so this will be our intellectual property (not open source).
This is a balancing act between Jiniri being open source and allowing any developer to partake and develop for it, but while securing the business side.

No license file on GitHub yet. Will there be one?

TwinWinNerD · « **Reply #146 on:** September 24, 2014, 01:27:45 pm »

how does a dutch auction work on a decentralised asset exchange, where orders are always matched with the first one submitted being the price?

If there is this orderbook:

QT PRICE
500 1000
500 500
500 250
500 100

And the seller wants to publish 1500 assets. Then he has to chose the price of 250. But when he submitts the selling order of 1500 for 250, then the first 2 order Overpay.

Please enlighten me.

abctc · « **Reply #147 on:** September 24, 2014, 01:32:47 pm »

Quote from: TwinWinNerD on September 24, 2014, 01:27:45 pm

Please enlighten me.

-

Quote from: Come-from-Beyond on September 24, 2014, 11:32:15 am

After the seller places the ask order at a fixed price he refunds difference between the lowest and actual bid prices.

nexern · « **Reply #148 on:** September 24, 2014, 01:35:15 pm »

Quote from: rtrtcrypto on September 24, 2014, 11:47:10 am

I'm very curious to see what price is triggered...

I'm going to put my guess at 33 NXT per share. I think a total valuation of 33 million NXT and a starting push of 3.3 million NXT for expenses sounds workable.

The crazy high bids in the 100's of NXT per share won't find 100,000 shares worth of investors (I don't think) - that would be a valuation of 100+ million NXT for JINN as of right now. The highest bids give a theoretical/potential valuation of 500 million NXT for JINN!!!

atm the 100.000 shares would go to position 195 from total 221 bids, which is 15 NXT to absorb in full but this is changing fast of course.
you can monitor this treshold and see what price is necessary to join the party by scrolling down, until accumulated shares meets the 100k.

http://nxtexplorer.com/nxt/nxt.cgi?action=4000&switch=10&id=3061160746493230502&p=1

TwinWinNerD · « **Reply #149 on:** September 24, 2014, 01:43:53 pm »

Quote from: abctc on September 24, 2014, 01:32:47 pm

Quote from: TwinWinNerD on September 24, 2014, 01:27:45 pm
Please enlighten me.
-
Quote from: Come-from-Beyond on September 24, 2014, 11:32:15 am
After the seller places the ask order at a fixed price he refunds difference between the lowest and actual bid prices.

Well, that was fast!

Thank you.

kodtycoon · « **Reply #150 on:** September 24, 2014, 01:46:01 pm »

Quote from: nexern on September 24, 2014, 01:35:15 pm

Quote from: rtrtcrypto on September 24, 2014, 11:47:10 am
I'm very curious to see what price is triggered...

I'm going to put my guess at 33 NXT per share. I think a total valuation of 33 million NXT and a starting push of 3.3 million NXT for expenses sounds workable.

The crazy high bids in the 100's of NXT per share won't find 100,000 shares worth of investors (I don't think) - that would be a valuation of 100+ million NXT for JINN as of right now. The highest bids give a theoretical/potential valuation of 500 million NXT for JINN!!!

atm the 100.000 shares would go to position 195 from total 221 bids, which is 15 NXT to absorb in full but this is changing fast of course.
you can monitor this treshold and see what price is necessary to join the party by scrolling down, until accumulated shares meets the 100k.

http://nxtexplorer.com/nxt/nxt.cgi?action=4000&switch=10&id=3061160746493230502&p=1

if ya can get in at the right price, allot of money can be made.

martismartis · « **Reply #151 on:** September 24, 2014, 01:48:53 pm »

Can I ask: who is Triangle (CFB, David and Wesleyh we know)?

gs02xzz · « **Reply #152 on:** September 24, 2014, 01:49:32 pm »

Quote from: nexern on September 24, 2014, 01:35:15 pm

http://nxtexplorer.com/nxt/nxt.cgi?action=4000&switch=10&id=3061160746493230502&p=1

Vey nice! Thanks!

Triangle · « **Reply #153 on:** September 24, 2014, 01:52:59 pm »

Quote from: humbot on September 24, 2014, 01:24:14 pm

Quote from: Triangle on September 24, 2014, 01:11:48 pm
Quote from: Funkylump on September 24, 2014, 01:02:51 pm
What are your plans in terms of intellectual property?

Most crypto-based projects are open-source and create their revenue through the tokens they issue. However, this enterprise aims to manufacture physical goods and earn revenue by licensing Jiniri Unlimited.

It seems this will require significant intellectual property in order to retain ownership of the technology.

Do you have any patents pending or in place? If not, any specific plans to make anything proprietary anytime soon?

Yes, Jiniri Unlimited will be licensed as a service, so this will be our intellectual property (not open source).
This is a balancing act between Jiniri being open source and allowing any developer to partake and develop for it, but while securing the business side.

No license file on GitHub yet. Will there be one?

https://github.com/Come-from-Beyond/Jiniri/blob/master/README.md

Here you go

humbot · « **Reply #154 on:** September 24, 2014, 02:01:28 pm »

I think I have a fairly good idea of the background and different roles of the 3 founders but your risk assessment does not mention the effect if one or more of the founders is unable to continue in their role during the early stages. Are there contingency plans in place or can you guesstimate when the project will be less dependent on founder input - after the release of the Limited, Unlimited version or?

Obviously this will not happen but.......

Thanks

rtrtcrypto · « **Reply #155 on:** September 24, 2014, 02:12:05 pm »

Yes, exactly...

I'm just guessing that we might have room to move up to around 33 per share - I wanted to put a number out there. Maybe people have other estimates/guesses. The question is then, can the JINN team work with:

-3.3 million NXT for immediate operating costs?
-even less?
-if more, how much more?

I had already seen that the 15 NXT per share avg would eat up the entire asset, but can they team make it through with only 1.5 million NXT?

Quote from: nexern on September 24, 2014, 01:35:15 pm

Quote from: rtrtcrypto on September 24, 2014, 11:47:10 am
I'm very curious to see what price is triggered...

I'm going to put my guess at 33 NXT per share. I think a total valuation of 33 million NXT and a starting push of 3.3 million NXT for expenses sounds workable.

The crazy high bids in the 100's of NXT per share won't find 100,000 shares worth of investors (I don't think) - that would be a valuation of 100+ million NXT for JINN as of right now. The highest bids give a theoretical/potential valuation of 500 million NXT for JINN!!!

atm the 100.000 shares would go to position 195 from total 221 bids, which is 15 NXT to absorb in full but this is changing fast of course.
you can monitor this treshold and see what price is necessary to join the party by scrolling down, until accumulated shares meets the 100k.

http://nxtexplorer.com/nxt/nxt.cgi?action=4000&switch=10&id=3061160746493230502&p=1

nexern · « **Reply #156 on:** September 24, 2014, 02:37:16 pm »

Quote from: rtrtcrypto on September 24, 2014, 02:12:05 pm

Yes, exactly...

I'm just guessing that we might have room to move up to around 33 per share - I wanted to put a number out there. Maybe people have other estimates/guesses. The question is then, can the JINN team work with:

-3.3 million NXT for immediate operating costs?
-even less?
-if more, how much more?

I had already seen that the 15 NXT per share avg would eat up the entire asset, but can they team make it through with only 1.5 million NXT?

Quote from: nexern on September 24, 2014, 01:35:15 pm
Quote from: rtrtcrypto on September 24, 2014, 11:47:10 am
I'm very curious to see what price is triggered...

I'm going to put my guess at 33 NXT per share. I think a total valuation of 33 million NXT and a starting push of 3.3 million NXT for expenses sounds workable.

The crazy high bids in the 100's of NXT per share won't find 100,000 shares worth of investors (I don't think) - that would be a valuation of 100+ million NXT for JINN as of right now. The highest bids give a theoretical/potential valuation of 500 million NXT for JINN!!!

atm the 100.000 shares would go to position 195 from total 221 bids, which is 15 NXT to absorb in full but this is changing fast of course.
you can monitor this treshold and see what price is necessary to join the party by scrolling down, until accumulated shares meets the 100k.

http://nxtexplorer.com/nxt/nxt.cgi?action=4000&switch=10&id=3061160746493230502&p=1

i doubt it. this needs more funds than 1.5 but the auction just started and an isolated single price view isn't sufficient better take price and volume.
just watch out for some volume and accumulated share gaps, perhaps this leads to final price finding ;-)

i also try to locate the best price to get in but since everything is news driven atm and triangle doesn't provide a fixed matching date you can't do much
more than monitoring the orderbook and adjust your position close but not to close to the lower end unless you want to get wiped out.

cobaltskky · « **Reply #157 on:** September 24, 2014, 02:43:14 pm »

I put my orders in at 50. Seems reasonable, given the risk, and a lot of orders were clumping in that range at the time.

youyou · « **Reply #158 on:** September 24, 2014, 02:46:23 pm »

C'mon guys, at current prices, a bid at 50NXT would mean something like $150k for the funding.... a little cheap for a startup who wants to make hardware dev imo.

Triangle · « **Reply #159 on:** September 24, 2014, 02:56:47 pm »

Quote from: humbot on September 24, 2014, 02:01:28 pm

I think I have a fairly good idea of the background and different roles of the 3 founders but your risk assessment does not mention the effect if one or more of the founders is unable to continue in their role during the early stages. Are there contingency plans in place or can you guesstimate when the project will be less dependent on founder input - after the release of the Limited, Unlimited version or?

Obviously this will not happen but.......

Thanks

There is no denying that the project is dependent on Come-from-Beyond at this stage, but this is his "life long" project and a necessary building block for the future ventures both him and the rest of Triangle want to work on. So you can be assured that CfB wont suddenly quit. Now obviously we live in a unpredictable world where anything *could* happen. At this stage in development, a scenario where CfB was made unable to work / communicate for whatever reason, we would naturally be in a fatal situation and the funds would just be refunded.

However such a situation is extremely unlikely. We are looking into hiring people and will have more devs by the time Jiniri Limited is done so that the project will go forth without any singular point of failure.

News:

Author Topic: [ANN] Jinn (Read 418978 times)