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Author Topic: [ANN] Jinn  (Read 426056 times)

Triangle

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Re: [ANN] Jinn
« Reply #1280 on: October 21, 2015, 09:31:26 pm »

This is part of the confusion,

You talk about JINN as being an umbrella of things all over this thread, not as if JINN is only one thing that is part of some larger entity. JINIRI, UNLIMITED, JINN, etc... are all under an umbrella JINN, that even has a logo and a website (or had). So, the impression is that JINN is the umbrella from which many other smaller things are under.

Now, JINN is just the processor, but, the token also covers the software/emulator and the other things mentioned in this thread. Those things would be part of the sale as well (I presume).



Triangle was always the company. This can be seen in the original document and youtube video presenting Jinn. Jinn has ALWAYS been the processor. Jiniri (female Jinn) is the emulator and Abra is the language we developed right away.
There is no ambiguity here. We have NEVER issued equity, as that would be illegal and we'd require a lot more funds for it.

Quote
You started JINN, which is trying to work on a suite of projects (one being the hardware)... this suite could sell one day to a larger entity, under that scenario, the holders of the token are covered. That suite may also be sold as hardware/software/etc... these sales would give JINN the company (because you have not called yourselves something else, you are a company named JINN after all, no?) profits... those profits would also be given to token holders in accordance to their respective % of held tokens.


No. Sale of Jinn processor IP would be, yes. But not the company itself.

Quote
If JINN the company is not JINN the HARDWARE, then you needed to make that more clear (and honestly, that would also mean you didn't quite know how to set this entire thing up).

Jinn is the processor. Jinn Labs is the branch of Triangle working on Jinn processor and Jiniri emulator as it has been 100% crystal clear from day 1. No idea why you find this so confusing.

Quote
The worst scenario would be "HEY, WE SOLD JINN THE COMPANY for 20 billion, BUT WE GOT RID OF JINN THE PROCESSOR, and so you get NOTHING".

Why? We didn't sell our souls. All Jinn raised funds go exclusively to Jinn development. Neither me, CfB or Mtchl who has worked on IOTA takes out any salary. All the funds go directly to the engineers creating the Jinn hardware.



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Arpeggio

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Re: [ANN] Jinn
« Reply #1281 on: October 21, 2015, 10:10:41 pm »

I looked back at my posts and saw I recently used the word equity, but I called it Jinn equity. It was always my understanding that Jinn Asset
does not represent shares of a company. We would get no voting rights for decisions for the company.

To be fair to Triangle it was clear to me from the beginning we were entitled to profits from Jinn processors etc but not Jinn the company. But to side with rtrtcrypto I also was under the impression Jinn was also the company name. I also did think Jinn would be the primary and only product of Jinn the company. So I believed Jinn's success was our success.

rtrtcrypto is concerned that Jinn the product is all we are entitled to so if Jinn helps the Triangle company to a 3 Billion dollar sale, you could in theory say well we sold Triangle the company for 3 Billion but the Jinn processors were not a significant factor for the sale so Jinn asset holders get little to nothing.

I believe David is just trying to clarify that Jinn asset is for Jinn which he still is trying to make a Billion dollar product. But not for Triangle the company because David envisions Triangle to come out with more successful products that naturally Jinn asset isn't entitled to but Jinn asset holders might think they are. So Triangle 5 years from now has a Google market cap and Jinn holders try to sue him because Jinn, while extremely successful, is only one third of Triangle's revenue and Jinn holders believe they are entitled to the whole company's profits.

So basically nothing for me changed except the knowledge that the company is called Triangle as long as David honestly still believes in Jinn.
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flip09

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Re: [ANN] Jinn
« Reply #1282 on: October 21, 2015, 10:13:13 pm »

thank you for the update, Triangle.
After that, I have a couple of questions that come to my mind:

1) you are emphasizing the importance of the funds and resources on hardware industry, and the problems of the volatility and iliquidity of NXT. How is going this? If everything is going well with the development but the funds are spent because NXT is going down and down, have you got any alternative thought? Is there a real chance to spent funds before have jinn processor (as it is a long term project)? are you worried about it?

2) Have you received the components for testing back from MOSIS?

Thank you again!
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durerus

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Re: [ANN] Jinn
« Reply #1283 on: October 21, 2015, 10:19:19 pm »

Ok... can I transfer out say, half of my Jinn holdings to a separate account, and transfer the other half for IOTA?  I want to take advantage of what (seems like) an early-bird buy-in for JINN supporters, but I don't want to give up all of my JINN tokens in the process... only some of them.

I support JINN for the long haul.  I said it originally-- this is a type of computational hardware revolution I'd like to be a part of in supporting.  I can't just walk away for a coin that will certainly see a significant rise.  Well, maybe I can, so long as I can buy back into JINN after the huge profitability push that comes from it's release.

Uuugh...  Thank you Triangle for the updates, but this isn't an easy decision to make.

Hello Triangle,

Thank you for the update.  Like the previous poster I support Jinn in the long run, and I would like to second his question. Can I transfer some of my Jinn holdings to a second account and then transfer the other half for Iota?

Thank you,
EFFV

THIS ONLY APPLIES FOR HOLDERS PRE-BLOCK 549824

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rdanneskjoldr

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Re: [ANN] Jinn
« Reply #1284 on: October 21, 2015, 10:19:37 pm »

Have you already thought on how the transmission from jinn to iota will be? What value will be given to the jinn sold for Iota?

If i have 100 Jinn in an account, and i sell one now, will i be able to change the 99 remaining for IoTA? or do i need to keep the same i had on the mentioned block?
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EFFV

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Re: [ANN] Jinn
« Reply #1285 on: October 21, 2015, 10:37:39 pm »

Ok... can I transfer out say, half of my Jinn holdings to a separate account, and transfer the other half for IOTA?  I want to take advantage of what (seems like) an early-bird buy-in for JINN supporters, but I don't want to give up all of my JINN tokens in the process... only some of them.

I support JINN for the long haul.  I said it originally-- this is a type of computational hardware revolution I'd like to be a part of in supporting.  I can't just walk away for a coin that will certainly see a significant rise.  Well, maybe I can, so long as I can buy back into JINN after the huge profitability push that comes from it's release.

Uuugh...  Thank you Triangle for the updates, but this isn't an easy decision to make.

Hello Triangle,

Thank you for the update.  Like the previous poster I support Jinn in the long run, and I would like to second his question. Can I transfer some of my Jinn holdings to a second account and then transfer the other half for Iota?

Thank you,
EFFV

THIS ONLY APPLIES FOR HOLDERS PRE-BLOCK 549824


Thank you, but that doesn't answer my question. The Jinn that I transfer to the second account could not be redeemed because of this requirement, but the Jinn that i keep in the nxt account (not transferred) would still satisfy this requirement for redemption.
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durerus

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Re: [ANN] Jinn
« Reply #1286 on: October 21, 2015, 10:51:40 pm »

@EFFV: Since they obviously want you to redeem all you have, I am pretty sure they will not allow that trick.

No inflation, decentralized and better than blockchain tech?  If that works, it should be a good deal ;)
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EFFV

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Re: [ANN] Jinn
« Reply #1287 on: October 21, 2015, 10:58:21 pm »

@EFFV: Since they obviously want you to redeem all you have, I am pretty sure they will not allow that trick.

No inflation, decentralized and better than blockchain tech?  If that works, it should be a good deal ;)

understand  :)

"And risk it all on one turn of pitch-and-toss,"
« Last Edit: October 21, 2015, 11:07:07 pm by EFFV »
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rubenbc

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Re: [ANN] Jinn
« Reply #1288 on: October 21, 2015, 11:29:50 pm »

@EFFV: Since they obviously want you to redeem all you have, I am pretty sure they will not allow that trick.

No inflation, decentralized and better than blockchain tech?  If that works, it should be a good deal ;)

understand  :)

"And risk it all on one turn of pitch-and-toss,"

I'm cancelling all sell orders :D

lucky88888

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Re: [ANN] Jinn
« Reply #1289 on: October 22, 2015, 12:05:34 am »


I'm cancelling all sell orders :D

me too!
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allwelder

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Re: [ANN] Jinn
« Reply #1290 on: October 22, 2015, 01:14:33 am »

UPDATE

 JINN tokens are *high risk* and do not represent equity in Jinn.





So,Could you clarify simply:
What's JINN token stand for? and what's the difference between JINN token and IOTA token?
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Tobo

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Re: [ANN] Jinn
« Reply #1291 on: October 22, 2015, 01:15:51 am »

when was block 549824 occurred? By Triangle's post, you only can swap your Jinn assets in your accounts before block 549824, right?
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Arpeggio

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Re: [ANN] Jinn
« Reply #1292 on: October 22, 2015, 03:21:52 am »

when was block 549824 occurred? By Triangle's post, you only can swap your Jinn assets in your accounts before block 549824, right?

I took it as block 549824 was likely around or just before his post. Meaning, only Jinn holders as of record of block 549824 can swap and must swap the entire Jinn balance. That way anybody reading his post can't immediately transfer half his Jinn to another account.

But my question is what kind of value will the swap be? Why would Triangle do this? He can't very well give us the current market value of Jinn even with the drastic
drop in value after his "wake up call" post. We already know the Jinn project is underfunded. Why accept Jinn tokens back in lieu of btc for IOTA? Its one thing for a company to buy back some "stock" when it thinks its got a big future but right now Triangle still retains 90% of Jinn. They need funding more than a shares buy back.

It seems the only answer that really makes sense is in fact what he claims. Giving Jinn holders who maybe bought under the wrong expectation of quick profits a chance at a more traditional crypto investment which is a new coin. But I am still having a hard time because what will Triangle do with these buyback Jinns? And again, what exchange rate can the swap occur at? Jinn's volatile price makes bitcoin price look stable.

Nobody can ever really know if someone on the internet is honest or not but I am inclined to believe CFB and David are honest. So that leads me to conclude either they have a real belief in the success of Jinn and wouldn't mind getting some Jinn asset back. Or they really are offering this out of some sort of fairness obligation that they really don't have to do. Even having said I feel they are honest, its still hard to believe the latter in this day and age.
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rubenbc

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Re: [ANN] Jinn
« Reply #1293 on: October 22, 2015, 08:46:56 am »

a question:
 I have two accounts with approximately 1100 JINN

Yesterday I sold aprox35 because I don't have liquidity to remove sales orders, with the remaining amount... I haven't problem sharing it?
considering that previously possessed.

this has generated some doubts.

Thank you

Berry

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Re: [ANN] Jinn
« Reply #1294 on: October 22, 2015, 09:25:45 am »


So you crash the price of Jinn and offer to swap them with a new currency?
Looks like you want them back cheaply.

And you are talking about no pump and dump and all this shit, cause we all got a 5-fold.
Reality check. 5-fold in an ever decreasing currency called NXT. In terms of real money we lost money.

This is getting really weird here.
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Ludom

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Re: [ANN] Jinn
« Reply #1295 on: October 22, 2015, 09:38:05 am »

Don't stress, more informations will follow.

I'm so surprise about the reaction about good news:
- No obligation to change Jinn to IOTA. It's only a possibility. Let's see the change ratio Jinn/IOTA and take your choice.
- A new project related with Jinn Hardware, good news anyway!

I really don't understand the problem here. Everything is great and some people complain. Nothing is weird, it's normal business.

I'm waiting for more news with impatience.
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achim

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Re: [ANN] Jinn
« Reply #1296 on: October 22, 2015, 09:47:16 am »

Um, not taking any sides, but

you crash the price of Jinn and offer to swap them with a new currency?

Are you suggesting that Triangle crashed the price of Jinn? This doesn't make any sense and would need some proof.


And you are talking about no pump and dump and all this shit, cause we all got a 5-fold.
Reality check. 5-fold in an ever decreasing currency called NXT. In terms of real money we lost money.

This is getting really weird here.

What has Triangle to do with the price decrease of Nxt?
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Triangle

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Re: [ANN] Jinn
« Reply #1297 on: October 22, 2015, 10:16:16 am »


I believe David is just trying to clarify that Jinn asset is for Jinn which he still is trying to make a Billion dollar product. But not for Triangle the company because David envisions Triangle to come out with more successful products that naturally Jinn asset isn't entitled to but Jinn asset holders might think they are. So Triangle 5 years from now has a Google market cap and Jinn holders try to sue him because Jinn, while extremely successful, is only one third of Triangle's revenue and Jinn holders believe they are entitled to the whole company's profits.

So basically nothing for me changed except the knowledge that the company is called Triangle as long as David honestly still believes in Jinn.

Precisely. We are in full development of Jinn. Other ideas we may come up with and develop are obviously not subject to this. As has been said from day 1. Not sure exactly why this weird confusion has arisen, but I am glad that it has now been resolved.

And this is exactly why we offer this opportunity for JINN holders, it's an altruistic effort on our end to give people a choice. We are under absolutely NO OBLIGATION to do so, but it's a win-win for everyone involved and so it's a no-brainer for us.
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Triangle

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Re: [ANN] Jinn
« Reply #1298 on: October 22, 2015, 10:19:35 am »

thank you for the update, Triangle.
After that, I have a couple of questions that come to my mind:

1) you are emphasizing the importance of the funds and resources on hardware industry, and the problems of the volatility and iliquidity of NXT. How is going this? If everything is going well with the development but the funds are spent because NXT is going down and down, have you got any alternative thought? Is there a real chance to spent funds before have jinn processor (as it is a long term project)? are you worried about it?

2) Have you received the components for testing back from MOSIS?

Thank you again!

1) It's really hard to say in the hardware world, you can spend a lot of time developing components and sending it off to production where you have to wait 3-4months before you get them in physical form ready for testing. If they fail, it's back to the drawingboard rinse and repeat. It's a really, really expensive and longwinded process, but that's the nature of the physical world. Currently though we are doing 'ok', but that could change tomorrow.

2) There'll be another update quite soon where hopefully this is included :)
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Triangle

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Re: [ANN] Jinn
« Reply #1299 on: October 22, 2015, 10:23:42 am »

Have you already thought on how the transmission from jinn to iota will be? What value will be given to the jinn sold for Iota?

If i have 100 Jinn in an account, and i sell one now, will i be able to change the 99 remaining for IoTA? or do i need to keep the same i had on the mentioned block?

Yea we have thought about it a lot, but can't reveal details yet. Everyone will get the same information in a fair and public manner soon.

Re: whether or not we will demand everyone gives up their entirety of JINN holdings, it's something we'd prefer due to logistics, but if there is a HUGE demand, we MAY change this stance. But we will NOT under any circumstances change regarding this only applying to the pre-block 549824
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