Another Alibaba moment on NXT AE? | Bitcointalksearch.org

lucky88888

sr. member

Activity: 404

Merit: 250

https://nxtforum.org/

Quote from: Triangle

https://nxtforum.org/news-and-announcements/(ann)-jinn/msg111079/#msg111079
The auction is officially over!
We sold 100,000 Jinn assets at 85NXT/Jinn for a total of 8,500,000 NXT.

The refunds will be be processed tomorrow, it's quite a few transfers and due to it having to be done manually it will take a few hours, but you can expect to have your excess funds tomorrow night.

Thanks to everyone who participated in this auction! We are looking forward to this project with all of you. And for everyone that didn't get their bids accepted / put in bid too late: don't despair, there will be plenty of ways to collaborate with this project.

More news and updates will come tomorrow.

valued at time of this post
ask bid
158.9999999 130

stereotype

legendary

Activity: 1554

Merit: 1000

Quote from: evergrow on September 26, 2014, 03:48:59 PM

what's Jinn? I didn't grasp this yet

Someone put me right if im off-piste, but I think this may be related....
http://www.cnet.com/news/internet-of-things-gets-a-hand-from-arm-operating-system/

devphp

sr. member

Activity: 336

Merit: 260

Price @65 NXT.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: evergrow on September 26, 2014, 03:48:59 PM

what's Jinn? I didn't grasp this yet

You need to follow the link in the OP and read on it, it's too long to explain here.

evergrow

sr. member

Activity: 426

Merit: 256

what's Jinn? I didn't grasp this yet

devphp

sr. member

Activity: 336

Merit: 260

Quote from: ShroomsKit_Disgrace on September 26, 2014, 03:36:13 PM

Which is the current "price per share" of Jinn? I heard it scalated quickly...

Threshold price is @60 NXT now, it looks like it's stabilized at this price, so maybe this is it.

ShroomsKit_Disgrace

legendary

Activity: 952

Merit: 1000

Yeah! I hate ShroomsKit!

Which is the current "price per share" of Jinn? I heard it scalated quickly...

Nxtblg

legendary

Activity: 924

Merit: 1000

Quote from: TaunSew on September 25, 2014, 05:29:11 PM

Quote from: Nxtblg on September 25, 2014, 08:06:27 AM

Quote from: TaunSew on September 25, 2014, 01:22:20 AM

Probably the reason why it's done on the NxT asset exchange was if CfB brought this to a venture capitalist (even an amateur one) he would be laughed out of the room.

Well...I don't know if you realize it, but you've provided the perfect justification for the AE. I'm historian enough to realize that, if Doc Roberts had brought the Altair 8800 to a VC in 1974, he would have been patted on the head and sent on his way.

"This company, although it has a neat product, will be crushed by Heathkit once the latter gets wind of this Altair and brings out their own model..."

The funny part about this alternate history is that any such VC would have made a good decision based on the standards of his trade presiding back then. The potential of the microcomputer was too unknown, and the big companies had a lot more market clout back then. Hindsight, as always, offers Chuck-Yeager clarity...

So, to get back from my digression path, the AE is a perfect crowdfunding venue for projects that are too "kooky" for a VC. Even these days, they still have blind spots - many of which are thinly-disguised fiduciary obligations to their fundholders.

Not to get nitpicky, but CfB would have been thrown out because the funding requirement is too small to merit a real VC's time...

I think this can be a very retrospective rhetoric. There's likely been a lot of projects around the same time frame as Altair but have largely been forgotten to history.

Yes, that's right. At the time, unless you had a vision, it was very difficult to tell the game-changers from the flakes.

TaunSew

hero member

Activity: 756

Merit: 506

Quote from: Nxtblg on September 25, 2014, 08:06:27 AM

Quote from: TaunSew on September 25, 2014, 01:22:20 AM

Probably the reason why it's done on the NxT asset exchange was if CfB brought this to a venture capitalist (even an amateur one) he would be laughed out of the room.

Well...I don't know if you realize it, but you've provided the perfect justification for the AE. I'm historian enough to realize that, if Doc Roberts had brought the Altair 8800 to a VC in 1974, he would have been patted on the head and sent on his way.

"This company, although it has a neat product, will be crushed by Heathkit once the latter gets wind of this Altair and brings out their own model..."

The funny part about this alternate history is that any such VC would have made a good decision based on the standards of his trade presiding back then. The potential of the microcomputer was too unknown, and the big companies had a lot more market clout back then. Hindsight, as always, offers Chuck-Yeager clarity...

So, to get back from my digression path, the AE is a perfect crowdfunding venue for projects that are too "kooky" for a VC. Even these days, they still have blind spots - many of which are thinly-disguised fiduciary obligations to their fundholders.

Not to get nitpicky, but CfB would have been thrown out because the funding requirement is too small to merit a real VC's time...

I think this can be a very retrospective rhetoric. There's likely been a lot of projects around the same time frame as Altair but have largely been forgotten to history.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: vanobe on September 25, 2014, 09:56:48 AM

I never used the NXT AE before. If I wanted to buy Jinn would there be a big time delay between buying into a sell order on and getting my Jinn? Is it slower than a normal exchange?

When your buy order price matches the sell order price, the execution takes as long as the next block arrives ~2 min. But Jinn is a Dutch auction sale, you can put in a buy order now, but it will be executed only when they run the sale order. More info at that link in the OP.

vanobe

member

Activity: 164

Merit: 37

I never used the NXT AE before. If I wanted to buy Jinn would there be a big time delay between buying into a sell order on and getting my Jinn? Is it slower than a normal exchange?

oblivi

hero member

Activity: 700

Merit: 501

Quote from: traderbit on September 25, 2014, 02:42:58 AM

the comparison should be the only hype

Alibaba >>> ipo
ipo >>> Jinn

Alibaba is an huge company and extremely successful, NXT is... just an experiment. I dont get how you can compare these.

Nxtblg

legendary

Activity: 924

Merit: 1000

Quote from: TaunSew on September 25, 2014, 01:22:20 AM

Probably the reason why it's done on the NxT asset exchange was if CfB brought this to a venture capitalist (even an amateur one) he would be laughed out of the room.

Well...I don't know if you realize it, but you've provided the perfect justification for the AE. I'm historian enough to realize that, if Doc Roberts had brought the Altair 8800 to a VC in 1974, he would have been patted on the head and sent on his way.

"This company, although it has a neat product, will be crushed by Heathkit once the latter gets wind of this Altair and brings out their own model..."

The funny part about this alternate history is that any such VC would have made a good decision based on the standards of his trade presiding back then. The potential of the microcomputer was too unknown, and the big companies had a lot more market clout back then. Hindsight, as always, offers Chuck-Yeager clarity...

So, to get back from my digression path, the AE is a perfect crowdfunding venue for projects that are too "kooky" for a VC. Even these days, they still have blind spots - many of which are thinly-disguised fiduciary obligations to their fundholders.

Not to get nitpicky, but CfB would have been thrown out because the funding requirement is too small to merit a real VC's time...

CoinFreedom

newbie

Activity: 52

Merit: 0

After seeing the amount and quality of work these guys have done on NXT over the past 10 months (CfB and Wesleyh especially) I'd be willing to invest in just about anything they come out with. But this project is truly very innovative and a pretty huge undertaking.

I don't know how to value it any more than the average person reading this but I do believe they will follow through on what they promise and find ways around any technical problems they run into. Regulatory issues are a different matter altogether but that's similar for anything crypto-related.

Come-from-Beyond is like some kind of mad (computer) scientist with great vision and deep understanding of these complex systems. He not only thinks both inside and outside the box, he change the shape of the box.

Have a look at what he envisions as the architecture for this new system. https://nxtforum.org/pub-crawl/rfc-project-'jinn'-(processor)/

Zer0Sum

legendary

Activity: 1588

Merit: 1000

Please remember that anon posts on the NXT forum are "legally binding".

lucky88888

sr. member

Activity: 404

Merit: 250

https://nxtforum.org/

im investing into the beginning of skynet.

Tobo

hero member

Activity: 763

Merit: 500

It is not an IPO. It is more like an angel investment opportunity or a series A type fundraising for the first round. For a growing and successful company this type investment opportunity can go multiple rounds before the real IPO like Alibaba recent. Almost all successful companies in the history did so, such as Microsoft, Apple, Facebook, and so on.

In this so early stage, as investors you actually want the founders to hold majority of the stakes to bear the majority of the risk and have the incentive to work hard and raise more funds to reach their goals.

It is just an investment opportunity. You can simply choose not to invest if you don't think it is a good opportunity or don't like it. You also can wait till you see some progress of this project.

traderbit

hero member

Activity: 798

Merit: 1000

the comparison should be the only hype

Alibaba >>> ipo
ipo >>> Jinn

devphp

sr. member

Activity: 336

Merit: 260

Quote from: ShroomsKit_Disgrace on September 25, 2014, 01:44:07 AM

Why do you compare this to Alibaba?

Alibaba had its IPO on New York exchange a few days ago, settling 3rd in total valuation of internet companies, google the news

ShroomsKit_Disgrace

legendary

Activity: 952

Merit: 1000

Yeah! I hate ShroomsKit!

Why do you compare this to Alibaba?

Topic: Another Alibaba moment on NXT AE? (Read 2336 times)