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[ANN] Jinn
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Author Topic: [ANN] Jinn  (Read 322312 times)

LiQio

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Re: [ANN] Jinn
« Reply #480 on: October 01, 2014, 12:16:32 pm »

Are you going to sell all 100k shares in one go or will you only sell amount of shares that corresponds to your desired bid ?

I think this
...
This means that the chunk of 100,000 assets will be sold at once against the ladder of bid orders.
...
implicates that they plan to sell the full amount - otherwise it would have to say "up to" 100'000 assets will be sold.

Fatih87SK

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Re: [ANN] Jinn
« Reply #481 on: October 01, 2014, 12:20:11 pm »

100k shares will be sold at the price of the 100k th bid.

e.g. if you bid 100 shares at 150 NXT and the ask is at 100, you will obtain 100 shares at 100 NXT

Ok, so I have to sum up the buy orders up to 100.000 to obtain Jinn Asset at a reasonable price.
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martismartis

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Re: [ANN] Jinn
« Reply #482 on: October 01, 2014, 12:22:10 pm »

100k shares will be sold at the price of the 100k th bid.

e.g. if you bid 100 shares at 150 NXT and the ask is at 100, you will obtain 100 shares at 100 NXT

Ok, so I have to sum up the buy orders up to 100.000 to obtain Jinn Asset at a reasonable price.

This show with what price you could enter the ship :)
http://nxtexplorer.com/nxt/nxt.cgi?action=4000&switch=10&id=3061160746493230502&p=1
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Fatih87SK

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Re: [ANN] Jinn
« Reply #483 on: October 01, 2014, 12:49:50 pm »

100k shares will be sold at the price of the 100k th bid.

e.g. if you bid 100 shares at 150 NXT and the ask is at 100, you will obtain 100 shares at 100 NXT

Ok, so I have to sum up the buy orders up to 100.000 to obtain Jinn Asset at a reasonable price.

This show with what price you could enter the ship :)
http://nxtexplorer.com/nxt/nxt.cgi?action=4000&switch=10&id=3061160746493230502&p=1

I searched a bit, but then I found it; "accum. Shares"

Awesome! Thanks!
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Jimmy2011

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Re: [ANN] Jinn
« Reply #484 on: October 01, 2014, 12:52:21 pm »

I don't understand how this auction works. Can anyone enlighten me in two sentences?

I see a buy order of 5 pieces for 900 NXT  ???

One sentence goes as following:

The issuer will dump 100K assets at a single tx with a price maximization of his gain in the condition that all those 100K assets will be eaten by those bids according to Nxt AE system trade rule.

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Come-from-Beyond

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Re: [ANN] Jinn
« Reply #485 on: October 01, 2014, 02:09:45 pm »

Development update:

The "dynamical" part has been completed. Theoretically, now Jiniri is able to run Jinn-compatible programs written in Java. Practically, there should be bugs (there are no programs without bugs :) ). My next task is testing, bug fixing and polishing. I'm going to write the comments for the code also.
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Fatih87SK

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Re: [ANN] Jinn
« Reply #486 on: October 01, 2014, 02:28:35 pm »

I am sure this has been asked already but I'm too lazy to check out every page;

What will happen to the other 90% percent of the assets?
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Lordoftherigs

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Re: [ANN] Jinn
« Reply #487 on: October 01, 2014, 02:29:54 pm »

I am sure this has been asked already but I'm too lazy to check out every page;

What will happen to the other 90% percent of the assets?


The remaining 90% of the total Jinn shares will be locked in and reserved for project development. We will not be issuing any more assets until we reach our set goals as outlined below, nor will anyone in the Jinn team be allowed to sell their assets until these goals are reached as follows:

1/5th of the remaining assets will be handed over (and allowed to be sold) to the founders (Come-from-Beyond, David, Wesley) after Jiniri Limited is completed. 1/4th of the remaining assets to the same people after Jiniri Unlimited is completed and the proof-of-concept game is released. 1/3th - after Jinn is designed. 1/2th - after Jinn prototypes manufactured. And the remaining assets will be handed over after the very first Jinn processors are sold.


http://www.jinnlabs.com/
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Jimmy2011

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Re: [ANN] Jinn
« Reply #488 on: October 01, 2014, 02:30:54 pm »

Development update:

The "dynamical" part has been completed. Theoretically, now Jiniri is able to run Jinn-compatible programs written in Java. Practically, there should be bugs (there are no programs without bugs :) ). My next task is testing, bug fixing and polishing. I'm going to write the comments for the code also.

Is it Jiniri Limited or Jiniri Unlimited? I hope it is JU :)
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Jimmy2011

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Re: [ANN] Jinn
« Reply #489 on: October 01, 2014, 02:36:52 pm »

I am sure this has been asked already but I'm too lazy to check out every page;

What will happen to the other 90% percent of the assets?


The remaining 90% of the total Jinn shares will be locked in and reserved for project development. We will not be issuing any more assets until we reach our set goals as outlined below, nor will anyone in the Jinn team be allowed to sell their assets until these goals are reached as follows:

1/5th of the remaining assets will be handed over (and allowed to be sold) to the founders (Come-from-Beyond, David, Wesley) after Jiniri Limited is completed. 1/4th of the remaining assets to the same people after Jiniri Unlimited is completed and the proof-of-concept game is released. 1/3th - after Jinn is designed. 1/2th - after Jinn prototypes manufactured. And the remaining assets will be handed over after the very first Jinn processors are sold.


http://www.jinnlabs.com/

I would like to summarize as following. Is it right?

Sep. ~ Oct. 2014,   IPO                               10%
Nov. ~ Dec. 2014,  Jiniri Limited                  18%
Q1. 2015               Jiniri Unltd, PoC Game     18%
Q3. 2015               Jiniri Prototype                18%
Q4. 2015               Jinn launch(TapeOut?)     18%
Q2. 2016               Jinn sale                         18%

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cobaltskky

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Re: [ANN] Jinn
« Reply #490 on: October 01, 2014, 02:47:45 pm »

Can we just buy this stuff already? Lol
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Come-from-Beyond

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Re: [ANN] Jinn
« Reply #491 on: October 01, 2014, 03:00:18 pm »

Is it Jiniri Limited or Jiniri Unlimited? I hope it is JU :)

It's JL. JU source code won't be published.
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Pilot

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Re: [ANN] Jinn
« Reply #492 on: October 01, 2014, 03:13:06 pm »

Can we just buy this stuff already? Lol

That "Take My Money" meme needed here. ;)
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sv3n

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Re: [ANN] Jinn
« Reply #493 on: October 01, 2014, 04:21:26 pm »

I've done the math now several times, and I'm pretty convinced that the AE will match the ask and bid price to the actual ask and bid offer. I sold mgwBTC for 13750 even though the bid was for 13800, and I checked the buying account and it bought it for 13750, not 13800. Pretty sure there will not be a need to refund NXT which should make this Dutch auction a lot easier.
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gs02xzz

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Re: [ANN] Jinn
« Reply #494 on: October 01, 2014, 05:00:27 pm »

I've done the math now several times, and I'm pretty convinced that the AE will match the ask and bid price to the actual ask and bid offer. I sold mgwBTC for 13750 even though the bid was for 13800, and I checked the buying account and it bought it for 13750, not 13800. Pretty sure there will not be a need to refund NXT which should make this Dutch auction a lot easier.

You are right. I did not realize it before. It makes the whole process look much better.
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sv3n

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Re: [ANN] Jinn
« Reply #495 on: October 01, 2014, 05:02:51 pm »

I've done the math now several times, and I'm pretty convinced that the AE will match the ask and bid price to the actual ask and bid offer. I sold mgwBTC for 13750 even though the bid was for 13800, and I checked the buying account and it bought it for 13750, not 13800. Pretty sure there will not be a need to refund NXT which should make this Dutch auction a lot easier.

You are right. I did not realized it before. It makes the whole process much better.
Yeah, I don't think anyone did. There were a lot of confident posts (including mine :( ) that were sure it was bids always pay the bid price. You can never underestimate the power of "Trust but verify"!
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Come-from-Beyond

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Re: [ANN] Jinn
« Reply #496 on: October 01, 2014, 05:21:49 pm »

Yeah, I don't think anyone did. There were a lot of confident posts (including mine :( ) that were sure it was bids always pay the bid price. You can never underestimate the power of "Trust but verify"!

Check your numbers again, please. Asset Exchange will match orders at the price of the order that was placed earlier. In our case everyone will get different prices and refunds will be required.
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TwinWinNerD

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Re: [ANN] Jinn
« Reply #497 on: October 01, 2014, 05:23:54 pm »

I've done the math now several times, and I'm pretty convinced that the AE will match the ask and bid price to the actual ask and bid offer. I sold mgwBTC for 13750 even though the bid was for 13800, and I checked the buying account and it bought it for 13750, not 13800. Pretty sure there will not be a need to refund NXT which should make this Dutch auction a lot easier.

I am 99% sure that the order that was placed first determines that price.

So in the case of Jinn, the BID prices will determine the trade price.

kodtycoon

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Re: [ANN] Jinn
« Reply #498 on: October 01, 2014, 05:23:58 pm »



I've done the math now several times, and I'm pretty convinced that the AE will match the ask and bid price to the actual ask and bid offer. I sold mgwBTC for 13750 even though the bid was for 13800, and I checked the buying account and it bought it for 13750, not 13800. Pretty sure there will not be a need to refund NXT which should make this Dutch auction a lot easier.

You are right. I did not realize it before. It makes the whole process look much better.

You are right about how the ae fills orders but a refund still has to be done after. If they place the sell order at 60 nxt, the guys that have buy orders for 500 still pay 500 and still need to refunded the 440 they overpaid.
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Sebastien256

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Re: [ANN] Jinn
« Reply #499 on: October 01, 2014, 05:27:58 pm »

I've done the math now several times, and I'm pretty convinced that the AE will match the ask and bid price to the actual ask and bid offer. I sold mgwBTC for 13750 even though the bid was for 13800, and I checked the buying account and it bought it for 13750, not 13800. Pretty sure there will not be a need to refund NXT which should make this Dutch auction a lot easier.

I am 99% sure that the order that was placed first determines that price.

So in the case of Jinn, the BID prices will determine the trade price.

Well I hope it is like that... otherwise, we have a problem.  ::)
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