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I bought the NXTinspect totally on my own without any notice to or from the NXTinspect team
I knew they were coming out with something and when they did, I pounced at the good deal. I invest in good people, and they are all good people. When I see good trades, I just automatically click, click, done. So I didnt even think about the potential for looking like conflict of interest.

However, it seems there could be an appearance of conflict since I am involved in dozens of different projects. So I will divest NXTventure of all NXTinspect assets as follows:

5% -> JLH (I hope nobody sees any conflict with this!)
5% -> SuperNET dividend
5% -> NXTventure dividend
10% -> AE sales at 2.5 NXT

As soon as the AE assets are sold, I will start the dividend process. If you do the math you will see that this will all be NXT neutral and after this I will have no NXTinspect, nor will I have made any gains from this, other than the indirect gain of JLH NAV which I have some indirect beneficial ownership of and whatever goodwill SuperNET and NXTventure assets get from this surprise dividend

James

I know I said I would not post again in this thread, but I just want to say I DO NOT think jl777 needs to do this!! Whale has made it clear that NXTinspect will not be rating any NXTventure assets, so I do not think there is a potential for a conflict of interest now.

When the original NXTinspect announcement was made I assumed NXTventure assets would be rated, but that assumption was false.

I'm sorry if I caused a fuss.

I bought the NXTinspect totally on my own without any notice to or from the NXTinspect team
I knew they were coming out with something and when they did, I pounced at the good deal. I invest in good people, and they are all good people. When I see good trades, I just automatically click, click, done. So I didnt even think about the potential for looking like conflict of interest.

However, it seems there could be an appearance of conflict since I am involved in dozens of different projects. So I will divest NXTventure of all NXTinspect assets as follows:

5% -> JLH (I hope nobody sees any conflict with this!)
5% -> SuperNET dividend
5% -> NXTventure dividend
10% -> AE sales at 2.5 NXT

As soon as the AE assets are sold, I will start the dividend process. If you do the math you will see that this will all be NXT neutral and after this I will have no NXTinspect, nor will I have made any gains from this, other than the indirect gain of JLH NAV which I have some indirect beneficial ownership of and whatever goodwill SuperNET and NXTventure assets get from this surprise dividend

James

Wait so this only looks like 25% of that assets. Where is the other 75% going?

Quote from: whale on October 02, 2014, 12:58:27 am

Quote from: JohnHolmes on October 01, 2014, 02:26:00 pm

Thanks for the clarifications!

I'm sorry you found my comments ill-informed 'conspiracy theories'. This is crypto, and I've been around a while. I did not mean to offend you, but insider trading is rife in all financial markets, and I can't remember you mentioning excluding jl777 assets in your previous posts, and he is a large shareholder in NXTinspect. I did assume you were involved with NXTventures as you are with SuperNET, but if that is incorrect then I have been enlightened, so thanks. I really don't think that error counts as a conspiracy theory, especially as you and jl777 are obviously working on many interrelated projects simultaneously, and you previously worked together on fuzon. You are connected, and their is *potential* for a conflict of interest. If you answer genuine queries as ill-informed conspiracy theories then you look far more paranoid than the questioner IMO.

I did not assume the early bird was compulsory, that's why I asked about it. If it's not then my own feeling is most asset issuers would probably avoid this option, as it offers them no advantages, but it could cause them problems with later buyers of their assets getting pissed at missing the better price. When and how assets are listed is obviously a touchy subject. The jinn dutch auction is probably the fairest version so far, plenty of advanced warning and very transparent.

I wish your venture all the best in the future.

edit: Oh, you deleted my original post and your reply.

edit2: Well here is my original "ill informed conspiracy post" which was still in my browser. Your deleted reply is gone though. Not good to delete honest posts made in good faith IMO, but it is your thread I guess.

Quote

I thought  NXTinspect was going to be more like a third party rating agency trying to prevent scam assets. It sounds more like a subsidiary of NXTventures/SuperNET now. That might not be a bad thing, but same personnel heavily involved here, so I can't imagine Whale will ever write a bad review of an asset that Whale himself is pushing through NXTventures/SuperNET.

Is this really a NXTventure/SuperNET/NXTinspect commission. What if I create an asset and pay NXTinspect to vet my activities, but I don't want to give your subscribers the early bird access? Would that be possible, or is the early bird access for your customers compulsory? Is NXTinspect really interested in rating NXTventure assets only? This would be perfectly acceptable, but if that was true then I hope another group might consider setting up a more community based alternative. NXTinspect seems unambiguously 'for profit', which is fine, but a not-for-profit alternative (that still paid wages) would obviously be 100% impartial to ALL asset listings.

I look forward to following and watching what happens with this.

John if you insist on trolling our thread, you will find all of your posts deleted. If you simply took the time to read my post above yours, it states why the thread was deleted.

I stated your post was a conspiracy theory because it was not supported with any substance behind your claims other than I am a friend of James. Everything you 'questioned' has not been mentioned anywhere, therefore why would you bring this up? At no point have we said that we are owned by anyone. Here's more enlightenment for you (as you put it). I'm only working on SuperNET with James so I don't understand what this means "especially as you and jl777 are obviously working on many interrelated projects simultaneously".

I agree. I haven't been following the Jinn sale too much but I like the idea. It lets the market decide what it is worth. It could definitely be an option for our second offering.

Thank you for your support. If you need further clarification or have any other questions, please don't hesitate to message me.

I'm so sorry you think I was trolling your thread. My intention was to get more information on your plans for NXTinspect as my first impression from your original announcement was the goal was to create more of a community focused rating agency, but your subsequent post regarding the subscription and early bird access for your subscribers had a very different tone. I did not mean to imply I thought any of the people involved were dishonest, far from it I think the members of your team have very good reputations that have been well earned. jl777 has always acted honestly, and he's set a new standard in the crypto industry for transparency and honest dealings. I have no doubt you will act honestly, but I do think you have overreacted to my post, but I can understand why.

This is a small community, and people will perform many functions at the same time, that is understandable, but when there is a 'potential' conflict of interest the best approach IMO is communication. I'll leave it for others to judge, but you edited your original subscription post to remove the early bird references, and you later clarified that jl777 assets will not be reviewed by NXTinspect. I think if those two changes were in the original announcement I would not have been so strong in my original post, and the 'potential' for even a perceived conflict of interest would have been greatly reduced.

Perceived conflicts of interest, whether real or not can cause perception problems. Hank Paulson may well be a very honest person, but most reasonable people would argue that there clearly existed a perception of a potential conflict of interest when he left as chairman of Goldman Sachs to become Secretary of the Treasury, and then later crafted the bank bailouts of 2009. To raise that possibility when seeking clarification might be trolling, but maybe it's genuine concern to see what's really going on. Paulson probably thought those who enquired of his potential conflict were just ill-informed conspiracy theorists, but I think most reasonable people would acknowledge that it wasn't 'a good look'. That doesn't mean they are accusing him of anything, just pointing out a possibility.

Anyway, I will not post again in any of your threads, and I do sincerely wish you well as NXT needs to limit future scam assets. Just to be very clear about things, I think NXTinspect is being run by honest people. Good luck!

It was only a misunderstanding. This is a community driven project and I want you to be involved (just like everyone else). Like I said, if you have any personal issues, just send me a message and I will do my best to sort it out.

It seems that James has taken the steps to ensure this kind of confusion is not repeated (thank you James).

No hard feelings

Wait so this only looks like 25% of that assets. Where is the other 75% going?

NXTinspect's IPO offer was for 300,000 asset tokens, which is 30% of all the tokens. James bought 250,000 of them, which is 25% of total. (RAlex bought the other 5%) I think that's what James meant by 25%.

but when there is a 'potential' conflict of interest the best approach IMO is communication.

+1. And the communication here has been exemplary.


Seems like new asset issuers could use help and advice with how to go about their share offerings, e.g. pricing, preannouncement, buyback, dividend structure, there could be demand for such a service. And I'd like to see approaches other than 'fixed price IPO' being tried, because that pits the few asset issuers against the entire Nxt marketplace when valuating the shares, the asset issuers are likely to sell out too low and fast, or too high and not sell.

Unfortunately the Nxters most experienced in all this (in the context of this thread I'm thinking of James and jef, I don't know much about everyone else yet) will also want to be grabbing those offered shares. Is there some way to provide such a service without even perceived conflict of interest?

For a start, maybe a stickied thread with suggestions and 'best practices' contributions from everyone? Personally I think preannouncing IPOs is always a good idea.

I am very disappointed that the Asset Issuer raise prices from 1nxt to 2.5nxt and then to 5nxt, and he still holds 30%.
It's unfair to investors

The asset issuer hasn't raised the price. They cannot raise the price of what they're not selling at the moment.

EDIT: This is wrong! I realized this after I posted.

jl777 bought up most of the initial offer. To dispel suspicions of 'conspiracy', 'conflict of interest', etc, jl777 divested the shares from NXTventures (which aims to invest in startups which NXTinspect will likely also be auditing, hence the potential for conflict of interest). Some of that went back to the market, @ 2.5 nxt per share. (I don't expect jl to sell at cost, he has a responsibility to his NXTventure asset holders to make $ for them as well). Then some people bought those up and resold at higher prices (I'm late to the party again! I picked a little up @ 4.5, I feel it's slightly overvalued right now, since there are no actual reviews out yet.)

tank, if you're an investor, you should have done your homework, checked the blockchain, read the threads, and you should know all this. (This also applies to anyone else looking to invest.)

-------

To me, nothing was "unfair" about the intial offer. They didn't have to make it a public offer in the first place, they could have raised funds privately outside of the AE instead. It's their business, their tokens, their right to do what they want with it. They don't owe it to anyone to sell their assets cheaply. But if their goal was also to try to distribute the shares and have more folks with a stake in their service, then there were better ways to do it, preannouncement would be one. (Nxt seems to keep having problems with initial distribution )

EDIT: You guys are right, the sale @ 5 is by the asset issuer! txid 9180901517660582655  I bought someone else's resell, and I started my reply to tank before Breasal posted.

Quote from: jl777 on October 02, 2014, 02:03:33 am

5% -> JLH (I hope nobody sees any conflict with this!)
5% -> SuperNET dividend
5% -> NXTventure dividend
10% -> AE sales at 2.5 NXT

James

And,  the game begins. James, with all due respect you should have ignored all them talk, you know better then all of us how it works... Do we have P-phase? Probably. What will D-phase do?

I will HODL till the last share is sold by the issuer, no matter what.

What are you talking about!?

James is very generous with every asset in all cases that I've observed, even when he is not in the wrong. In other words, he makes money while making others money...

So I was not able to buy in at a lower price. I'm a modest investor and disappointed in how this has played out. No big deal. I know you hold 50,000 NXT invest and is exactly why I will not keep pumping this price so you can then sell at 5-10X for what you bought. Good luck though I'm sure someone else will make you rich.

Edit: Not possible to delete posts?

Quote from: Breasal on October 02, 2014, 08:07:41 am

Quote from: tank on October 02, 2014, 06:53:32 am

I am very disappointed that the Asset Issuer raise prices from 1nxt to 2.5nxt and then to 5nxt, and he still holds 30%.
It's unfair to investors

+1

But some would simply say my choice of timezones to live in is terrible to buy NXTinspect!

I wake up yesterday and all shares for 1 NXT have been gone for 5 hours. This morning, all shares at 2.5 NXT sold!

Oh, how the asset issuers have behaved raising 5X in 48 hours simply due to the hype. I would have purchased at 2.5 but I'll not support this asset at 5x IPO BY THE ISSUER. I can understand if it's second market but whale et al!

Come on! Yes, you are offering a needed service and your reputations proceed you but the way you have issued your assets speaks loudly as to who you really are. Very disappointed.

Any numbers to support the need to do this to the community members who live in the wrong timezone and other than oh, well you were just late to the party!?

Oh come on! Stop these complaints already. I didn't notice to buy the shares on time either, that's fine there'll be other opportunities. Wasn't it you who asked the coinevolve guy to issue evolve2, then grabbed a large share of that asset and dumped on others at a higher price? How is that different from what NXTInspect just did? It's all about economic benefit, not some sort of charity activity, so stop complaining like a baby.

It was only a misunderstanding,I was connected by James link and not to do my homework.This is a community driven project,it's great, At least we don't worry about scam like evolve, in the future there will be more of the same assets like james issued that trustworthy,NXTinspect will be more valuable

If you haven't read James' intentions, please see his post at the top. We have only put a sell wall up at 5 Nxt to stop people from causing a bubble in our asset price. We do not want to hurt investors and right now there is a lot of speculative hype surrounding NXTinspect.

We had nothing to do with the 2.5 Nxt sale, it was entirely James' decision.

Whale has made it clear that NXTinspect will not be rating any NXTventure assets, so I do not think there is a potential for a conflict of interest now.

This comment disturbed me so greatly that I went and read whale's last 50-60 posts, and I couldn't see anywhere he has said that.

Whale, can you confirm whether or not you will be giving guidance on nxtventure and 'hodl' supported securities? Thanks.