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Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing singapore
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Author Topic: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing  (Read 9529 times)

Cassius

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Cryptocurrency exchange Poloniex is to list the jl777hodl asset (ticker symbol JLH) in a groundbreaking new development for crypto trading. The fund, which represents a basket of high-performance crypto initiatives, was previously only available via the NXT asset exchange. Its inclusion alongside Poloniex’s list of virtual currencies signals a step-change in the way cryptocurrency exchanges view their business, as well as offering a significant new source of liquidity to crypto-based companies.

NXT community achievement
Since the NXT Asset Exchange was launched in May a wide range of assets have been issued. NXT developer and forum member jl777 has been responsible for a number of these, including the popular NXTventure – a business that funds, supports and spins off other businesses of benefit to the NXT and cryptocurrency ecosystems.

With NXT’s multigateway already in beta, direct and decentralised trading between cryptocurrencies will soon be possible. In parallel to this, JLH’s listing on Poloniex opens the door for others to issue directly bitcoin-tradeable assets. This will come as a welcome development for the NXT community, some of whom the asset creator has recently assisted in launching successful assets of their own. ‘There’s an art to crafting a successful asset,’ says jl777. ‘The NXT community are an innovative and entrepreneurial group, and this asset provides an excellent model for others to follow.’
 
jl777hodl
JLH (asset number 6932037131189568014) is essentially a wrapper for around 20 different promising NXT-based assets, including many created by other companies and individuals. These include everything from payment processors and crypto venture capital funds to mining outfits and online stores.

‘Hodl’ is a popular cryptocurrency meme that began on the bitcointalk forum back in December 2013, when an unsuccessful daytrader drunkenly complained that he had quit trying to time market movements and instead decided to ‘HODL’. The misspelled word has since passed into crypto lore as a term for investors who doggedly maintain their holdings through thick and thin, ignoring short-term market volatility in the pursuit of long-term growth.

Poloniex: exchange-plus
Although the addition of a crypto-asset to a traditional exchange may seem trivial, the development heralds a radical shift in the cryptocurrency landscape. ‘To my knowledge this will be the first time a major exchange trades any NXT asset, or any colored coin from any other platform,’ comments Bas Wisselink, NXT community manager. ‘JLH will trade against bitcoin: this will be the first direct path between a non-bitcoin asset and bitcoin funding.’

This fundamentally represents a paradigm shift for Poloniex, too. Instead of trading in digital currencies alone, the exchange has expanded its list to include a whole new class of offering. ‘Assuming success with JLH, I expect that more and more NXT assets will trade on Poloniex and, by extension, other exchanges too. NXT assets can now be viewed as BTC equivalents,’ explains Dan Kindly, NXT marketing associate.

Due diligence
Investors are recommended to perform their own due diligence on the assets that make up jl777hodl. More information can be found at jl777.org and nxtforum.org. ‘The value of JLH is solely based on the value of what it contains,’ says jl777. ‘I have chosen these assets because I believe in their future potential, but investors need to do their own homework. Of course speculators may choose to skip all that, but I am more interested in reaching the long term buy-and-hold investors – hence the name.’
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gs02xzz

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #1 on: July 18, 2014, 01:18:21 pm »

This is indeed a breaking news! Hope coinmarketcap.com will add it soon.
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farl4bit

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #2 on: July 18, 2014, 01:28:00 pm »

How cool is this! Nxt is groundbreaking as ever!  :o

Swarm this shit!  ;D
« Last Edit: July 18, 2014, 01:47:46 pm by farl4bit »
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Daedelus

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #3 on: July 18, 2014, 01:42:40 pm »

This is indeed a breaking news! Hope coinmarketcap.com will add it soon.

I've requested jl777hodl to be added to coinmarketcap...

https://bitcointalk.org/index.php?topic=199685.msg7908653#msg7908653

I expect Gliss to resist so might need a few of you to pop over there to show your support  ;D ;D
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oldnbold

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #4 on: July 18, 2014, 02:00:41 pm »

Tweeted and bought some more  ;)
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VanBreuk

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #5 on: July 18, 2014, 02:06:53 pm »

This is indeed a breaking news! Hope coinmarketcap.com will add it soon.

I've requested jl777hodl to be added to coinmarketcap...

https://bitcointalk.org/index.php?topic=199685.msg7908653#msg7908653

I expect Gliss to resist so might need a few of you to pop over there to show your support  ;D ;D

Hey - I was supposed to do that now, right after the announcement! :) I submitted the form a few minutes ago.

Did you submit logo, required links, contact...? Please reach me by PM, we might need to review submitted information.
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Daedelus

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #6 on: July 18, 2014, 02:11:17 pm »

This is indeed a breaking news! Hope coinmarketcap.com will add it soon.

I've requested jl777hodl to be added to coinmarketcap...

https://bitcointalk.org/index.php?topic=199685.msg7908653#msg7908653

I expect Gliss to resist so might need a few of you to pop over there to show your support  ;D ;D

Hey - I was supposed to do that now, right after the announcement! :) I submitted the form a few minutes ago.

Did you submit logo, required links, contact...? Please reach me by PM, we might need to review submitted information.

Sorry, didn't know :-[ Just spamming around as I go  ;D

I have done what you see in the post, I didn't even know there was a form (or a logo  :o). This is how I have seen a lot of coins get listed.

You should forget what I have done and do it properly  ;D Gliss won't have seen my post yet
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VanBreuk

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #7 on: July 18, 2014, 02:25:45 pm »

No worries, proper spamming is always welcome :)

And even the logo is provisional, if Dom P is working on a reference website we'll have the whole package soon.
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tersagun

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #8 on: July 18, 2014, 04:36:04 pm »

I don't get it though, who/how are those "coins" supplied to Polo?
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jl777

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #9 on: July 18, 2014, 04:39:20 pm »

I don't get it though, who/how are those "coins" supplied to Polo?
you just generate a JLH deposit address on their Balances page and transfer jl777hodl assets to that address
arbitrageurs on polo are buying NXT on polo (now at .000077) and buying jl777hodl on AE, transferring back to polo for quick profit.
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tersagun

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #10 on: July 18, 2014, 04:46:18 pm »

I don't get it though, who/how are those "coins" supplied to Polo?
you just generate a JLH deposit address on their Balances page and transfer jl777hodl assets to that address
arbitrageurs on polo are buying NXT on polo (now at .000077) and buying jl777hodl on AE, transferring back to polo for quick profit.

Ah, now makes sense.. Haven't thought Polo would receive the asset and convert it to a "trading coin".
Thanks.
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satoshi

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #11 on: July 18, 2014, 05:14:48 pm »

Congrats jl777 on this historic achievement.

And personally for me the best part is that it is giving nemstakers a run for their money as it catches up for highest volume traded asset on NXT AE.

Go NXT
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jl777

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #12 on: July 18, 2014, 05:30:11 pm »

Congrats jl777 on this historic achievement.

And personally for me the best part is that it is giving nemstakers a run for their money as it catches up for highest volume traded asset on NXT AE.

Go NXT
Thanks! Always nice to hear such positive words from a senior member.

The crazy thing is that this weekend I was planning to add all the NEMstakes I acquired into JLH, so the NEMsters can get a piece of NEM via JLH at much lower prices

Financially JLH is like a closed end fund that compounds its earnings.
except its actually open to get more investments over time so there is no telling how many different assets it will end up with.
Since I am involved in so many startups I am usually able to get 10% slice set aside for JLH. Once an asset goes into JLH, it can only come out via fair market value swaps or trades.

Due to this it is very difficult to come up with a proper financial model for expected future value.
It would be (y ^ x) + (y2 ^ (x-1)) + (y3 ^ (x-2)) ...
where y, y2, y3 represent the holdings for that time period and the x values are the compound rate but with less time as in future years there will be more assets but less time for compounding.

Also there is a feedback flashpoint possibility, where if the market price of JLH goes up high enough, then it will increase the prices of the assets it hodls, which can then use the added capitalization to increase the internal dividends. Really all too complicated for me to solve. I just keep doing deals, writing software and putting 10% slices into JLH. I figure over time some smart guys will figure out what it is really worth.

A lot of the NXT assets are tremendously undervalued when you compare it to real world companies with similar revenue potential and this puzzles me because most operating assets will have super low overheads, at least mine will, so they should be trading at significant multiples of real world counterparts. That is why I have reinvested most all of my NXT into assets. They will perform as leveraged NXT over time

James
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coinomat

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #13 on: July 18, 2014, 06:52:47 pm »

Wow! This is HUGE. Very significant achievement, I'm truly impressed. Opens up a whole new range of possibilities actually. NXT assets are very promising.
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BitcoinForumator

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #14 on: July 18, 2014, 06:56:32 pm »

In what way, if any, is sharkfund0 related to jlhodl asset?
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jl777

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #15 on: July 18, 2014, 07:11:24 pm »

In what way, if any, is sharkfund0 related to jlhodl asset?
sharkfund0 actively trades cryptos, including coins and assets, and it has a shorter term horizon than JLH. That doesnt mean sharkfund0 is day trading, but rather it acts fast to participate in things that appear to have a good chance to spike. For example, sharkfund0 established largish positions in JLH and BTCD this past week. But it could have been DRK or BBR or XMR and in the past it has. It also does early investing in IPO coins or shortly after IPO. sharkfund0 cares not about dividends, it is looking for trading gains.

JLH is a long term reinvest dividends asset. Also, I have and will continue to add new assets into JLH. I have built it into the normal business process for my involvements in startups to get a 10% slice into JLH. Plus I might just toss in 10 NEMstakes because it is the most popular asset on NXT AE. So, JLH is meant to be representative of the entire spectrum of the NXT AE and in compounds and it is "professionally" managed and I toss in new goodies now and again.

So from a distance they might seem similar, but they are quite different. I would say that sharkfund is riskier, but the payoff could be bigger, while JLH being diversified is less risky, but also the upside is probably more limited.

James
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BitcoinForumator

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #16 on: July 18, 2014, 07:32:38 pm »

In what way, if any, is sharkfund0 related to jlhodl asset?
sharkfund0 actively trades cryptos, including coins and assets, and it has a shorter term horizon than JLH. That doesnt mean sharkfund0 is day trading, but rather it acts fast to participate in things that appear to have a good chance to spike. For example, sharkfund0 established largish positions in JLH and BTCD this past week. But it could have been DRK or BBR or XMR and in the past it has. It also does early investing in IPO coins or shortly after IPO. sharkfund0 cares not about dividends, it is looking for trading gains.

JLH is a long term reinvest dividends asset. Also, I have and will continue to add new assets into JLH. I have built it into the normal business process for my involvements in startups to get a 10% slice into JLH. Plus I might just toss in 10 NEMstakes because it is the most popular asset on NXT AE. So, JLH is meant to be representative of the entire spectrum of the NXT AE and in compounds and it is "professionally" managed and I toss in new goodies now and again.

So from a distance they might seem similar, but they are quite different. I would say that sharkfund is riskier, but the payoff could be bigger, while JLH being diversified is less risky, but also the upside is probably more limited.

James

Ah ok, I see. Thanks for clarifying this.
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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #17 on: July 18, 2014, 11:01:32 pm »

I don't see many retweets of the Press release: https://twitter.com/salsacz/status/490150553268133888
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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #18 on: July 19, 2014, 07:53:44 am »

Finally we have a new market leader in NXT AE, jl777hodl has passed 1 million NXT volume for the week.

Imho, this activity is bringing stability to the overall NXT market prices also. For last few days NXT had been struggling around 7000 satoshis, about 48 hours ago NXT was hovering around 6500 satoshis. And today we are sitting comfortably around 7500 satoshis. On polo 24 hour JLH volume is exceeding 5 BTC.

Quote
A lot of the NXT assets are tremendously undervalued when you compare it to real world companies with similar revenue potential and this puzzles me because most operating assets will have super low overheads, at least mine will, so they should be trading at significant multiples of real world counterparts. That is why I have reinvested most all of my NXT into assets. They will perform as leveraged NXT over time.
imho, currently only nXtrs who are investment minded are involved in NXT AE. The outside world (fiat investors), even BTC investors (loosing good money to non transparent sites) are mostly unaware or sitting on the sidelines. So if everyone in the NXT universe decides to get involve with NXT AE, not for investment gains per se but to underline one of the best features of builtin NXT technology. I would hope that bigger NXT stakeholders will adopt a similar strategy also.

And at last I must say James you are a true entrepreneur, the methods to your madness are becoming clearer as the time passes by. Just yesterday it was hard to understand the benefits of jl777hodl, after JLH listing it became quite clear. As a long term investor I was happy to grab 1000 shares at pre announcement prices and the arbitrage day trader made his daily profit, so win-win situation for all.
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jl777

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Re: Poloniex to list jl777hodl (JLH) in first ever crypto-asset listing
« Reply #19 on: July 19, 2014, 08:41:42 am »

Finally we have a new market leader in NXT AE, jl777hodl has passed 1 million NXT volume for the week.

Imho, this activity is bringing stability to the overall NXT market prices also. For last few days NXT had been struggling around 7000 satoshis, about 48 hours ago NXT was hovering around 6500 satoshis. And today we are sitting comfortably around 7500 satoshis. On polo 24 hour JLH volume is exceeding 5 BTC.

Quote
A lot of the NXT assets are tremendously undervalued when you compare it to real world companies with similar revenue potential and this puzzles me because most operating assets will have super low overheads, at least mine will, so they should be trading at significant multiples of real world counterparts. That is why I have reinvested most all of my NXT into assets. They will perform as leveraged NXT over time.
imho, currently only nXtrs who are investment minded are involved in NXT AE. The outside world (fiat investors), even BTC investors (loosing good money to non transparent sites) are mostly unaware or sitting on the sidelines. So if everyone in the NXT universe decides to get involve with NXT AE, not for investment gains per se but to underline one of the best features of builtin NXT technology. I would hope that bigger NXT stakeholders will adopt a similar strategy also.

And at last I must say James you are a true entrepreneur, the methods to your madness are becoming clearer as the time passes by. Just yesterday it was hard to understand the benefits of jl777hodl, after JLH listing it became quite clear. As a long term investor I was happy to grab 1000 shares at pre announcement prices and the arbitrage day trader made his daily profit, so win-win situation for all.
Well it puzzles me why everybody cant see the future like I do. I guess most people dont do both tech and have trading background, sprinkled with some marketing sense. Anyway, I am working on building a comprehensive solution for all of people's needs as regards to what crypto enables. Kind of hard to put into words, but lets use an analogy.

Rewind time back to before the Internet, even before arpanet/darpanet. OK. Sometime back in 1950's I think we are. Now let us look at methods for sending visual information. I think we have the mail and if you had the means, television advertising, print advertising, maybe billboards. Really, communicating via print/images was quite limited back then.

Along comes arpanet and now you could send an email, text only, but still text is visual and it got to anywhere in the world with a node in seconds. From weeks to seconds. Quite amazing really.
Let's go forward a bit. Now we are in 1990's (I think) and Netscape comes along. All of a sudden, what used to be possible only with print advertising/physical mail, was there instantly, globally. A global means of broadcasting for really very little cost.
Another decade, and now we add video streams.

So after about 50 years, we went from physical means of delivery to totally electronic. Sure did revolutionize the communications world!!

OK, what was all that for? Well, it was to make a point. Bitcoin was the arpanet equivalent. The first time you could send money in seconds anywhere in the world! NXT is the Netscape equivalent, but actually much more so the analogy breaks down. What we are seeing is the 50 year cycle compressed to 5 years and applied to money, assets, commerce. We will see much more rapid change than the 50 years, just because the tech is already here. Instead of "just" information being digitized and broadcast globally, we are now seeing money itself and all the related things, assets (just another form of wealth), derivatives, trading, auctions, basically anything to do with money. It is all changing and will change fast.

I am lucky enough to see pretty clearly the end solution needed and so I can plot a course from where we are today to that solution. I still stick to my 1% of GDP by decades end within NXT economy prediction. So while people are obsessing over day to day price changes, it is maybe good to see the longer term unstoppable macro forces.

James

P.S. No, I am not from the future :)
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