Introducing the JLTradingCoin on ClearingHouse (clearwallet.co).
I have created a ClearingHouse token with 100,000 total tokens and put 50,000 of them on the ClearingHouse Exchange. I will start the exchange rate at 1 VIAcoin for 1 JL coin. Going forward though I believe I will have to set the NAV based on each days asset appreciation and depreciation.
To purchase JLTRADINGCOIN's you first buy some VIA coin at Bittrex or Poloniex and then transfer into the clearwallet.co ClearingHouse site address. From there you just purchase as much JLTRADINGCOIN as you wish (at first I will stress that you should only send a minimal amount because I am going to figure out the best way of doing distributions, withdrawals and deposits) and I'll do a daily sweep of new buys and try to do a twice-weekly sweep of any JLTRADINGCOIN token sell orders.
My plan for now is to do a bi-weekly distribution of profits. All you have to do is hold JLTRADINGCOIN and the ClearingHouse system will automatically distribute VIAcoin to your address.
You Must Agree to these Risks before purchasing JLTRADINGCOIN:
1) This trading plan could absolutely fail and your principal could be lost. I REPEAT, DO NOT BUY AN AMOUNT THAT YOU CANNOT AFFORD TO LOSE. I will not run off with your coins but I make no guarantee that I will be successful at this endeavor.
2) Due to the conversion to VIAcoin that is required, this endeavor is reliant upon the VIAcoin exchange rate staying steady.
3) I make no guarantees of performance whatsoever. Past performance is not a guarantee of future success. Do not forget that.
4) If something happens to me or incapacitates me I will be unable to purchase back anyone's JLTRADINGCOIN's if they want to withdraw. Additionally, I may be unable to do daily sweeps of any new buys. Additionally, if something severe happens I do not currently have a back-up plan yet in place. I will work on educating a family member of mine who is also heavily-invested in Bitcoin though, so he knows how to access my ClearingHouse account to perform any withdrawals.
5) I am not a financial advisor and make no claims as such. This topic on bitcointalk was solely made for educating and this JLTRADINGCOIN is solely an experiment in connecting a coin to trading activity.
6) I hate to do this one, but you must essentially think of this coin right now as a donation to me. Again, I will not run off with your coins (I am in fact in the process of pursuing someone who did run off with many of my Darkcoins, re: https://bitcointalk.org/index.php?topic=626715.0;all) but to make this 'legal' I must insist that you treat this as a donation to me and I will treat any distribution and withdrawal back to you also as a donation to you. Having said that I hope you understand how much I do not want people to purchase large amounts of JLTRADINGCOIN right now. This is a fun and interesting experiment which one day could be huge!
7) I will post all trades after the fact now as soon as JLTRADINGCOIN's get bought.
Here we go!
JL
Edit: I will give the VIA coin address tomorrow where any purchased JL tokens go to. Additionally I will outline my fee for ''managing " and other things I forgot to mention above.
I have created a ClearingHouse token with 100,000 total tokens and put 50,000 of them on the ClearingHouse Exchange. I will start the exchange rate at 1 VIAcoin for 1 JL coin. Going forward though I believe I will have to set the NAV based on each days asset appreciation and depreciation.
To purchase JLTRADINGCOIN's you first buy some VIA coin at Bittrex or Poloniex and then transfer into the clearwallet.co ClearingHouse site address. From there you just purchase as much JLTRADINGCOIN as you wish (at first I will stress that you should only send a minimal amount because I am going to figure out the best way of doing distributions, withdrawals and deposits) and I'll do a daily sweep of new buys and try to do a twice-weekly sweep of any JLTRADINGCOIN token sell orders.
My plan for now is to do a bi-weekly distribution of profits. All you have to do is hold JLTRADINGCOIN and the ClearingHouse system will automatically distribute VIAcoin to your address.
You Must Agree to these Risks before purchasing JLTRADINGCOIN:
1) This trading plan could absolutely fail and your principal could be lost. I REPEAT, DO NOT BUY AN AMOUNT THAT YOU CANNOT AFFORD TO LOSE. I will not run off with your coins but I make no guarantee that I will be successful at this endeavor.
2) Due to the conversion to VIAcoin that is required, this endeavor is reliant upon the VIAcoin exchange rate staying steady.
3) I make no guarantees of performance whatsoever. Past performance is not a guarantee of future success. Do not forget that.
4) If something happens to me or incapacitates me I will be unable to purchase back anyone's JLTRADINGCOIN's if they want to withdraw. Additionally, I may be unable to do daily sweeps of any new buys. Additionally, if something severe happens I do not currently have a back-up plan yet in place. I will work on educating a family member of mine who is also heavily-invested in Bitcoin though, so he knows how to access my ClearingHouse account to perform any withdrawals.
5) I am not a financial advisor and make no claims as such. This topic on bitcointalk was solely made for educating and this JLTRADINGCOIN is solely an experiment in connecting a coin to trading activity.
6) I hate to do this one, but you must essentially think of this coin right now as a donation to me. Again, I will not run off with your coins (I am in fact in the process of pursuing someone who did run off with many of my Darkcoins, re: https://bitcointalk.org/index.php?topic=626715.0;all) but to make this 'legal' I must insist that you treat this as a donation to me and I will treat any distribution and withdrawal back to you also as a donation to you. Having said that I hope you understand how much I do not want people to purchase large amounts of JLTRADINGCOIN right now. This is a fun and interesting experiment which one day could be huge!
7) I will post all trades after the fact now as soon as JLTRADINGCOIN's get bought.
Here we go!
JL
Edit: I will give the VIA coin address tomorrow where any purchased JL tokens go to. Additionally I will outline my fee for ''managing " and other things I forgot to mention above.
First things first, I'm not selling any more JLTRADINGCOIN's until I can get the hang of things. Proceeds grew to just over 1 BTC pretty fast and I would like a couple days to figure this whole process out and get a rhythm on it before it gets ahead of me.
Second, as far as a true donation "fee" for me goes, I'll stick with a flat 5% of profits when I pay them out bi-weekly (every other week). I will also have a high-water mark like I mentioned whereby I'm not taking a "fee" unless we're making higher-highs and sending out profits. So I don't get any true benefit here unless the thing performs. I think it makes sense to post trades after-the-fact versus during just because I don't want to give any 'nefarious' folks a chance to dump on the JLTRADINGCOIN longs on purpose.
Lastly, I think since a couple of you are 'large fishes' so far in the JLTRADINGCOIN, instead of maintaining a twice-weekly window for withdrawals it'll be easiest at first to just PM me that you want to do a withdrawal and what amount. I'll try to post the VIA buy at the JLTRADINGCOIN NAV then on ClearingHouse within 24 hours but likely sooner. I typically check out my PM's at least once a day and usually multiple times a day; same with this board. Eventually it'd be cool to just let the ClearingHouse market exchange takeover for doing that (ie if you wanted to sell JLTRADINGCOIN you'd post a sell and wait for someone else to fulfill your sell. It would likely be at a discount to NAV).
And with regards to withdrawals, the JLTRADINGCOIN will need to be priced at a NAV (Net Asset Value) that makes sense; so if profits go up and there are more assets for the same amount of JLTRADINGCOIN in the market, your JLTRADINGCOIN's are worth more than the 1 JL to 1 VIA exchange and if there are losses, your 1 JL would be worth less than 1 VIA.
It would be cool to post a daily NAV of what exactly 1 JLTRADINGCOIN is worth in VIA. For now though it's pretty early to do that. Currently, though, since I liquidated the VIA earlier today and again a couple hours ago at higher VIA/BTC prices than where VIA/BTC is at now, there is a small gain of 2% (NAV is 1.02) and it's completely due to exchange rate benefit because I haven't taken on any position (yet) with the exchanged BTC.
Anyhow, I don't know about you guys but this is pretty freaking interesting so far. And it's only day one...
And I just sent over the last 200 VIA buy-in, so that's 2,440 VIA withdrawn today and 2,414.887 JLTRADINGCOIN's purchased (I think 20 or so of my own personal VIA that I'm using to pay ClearingHouse fees was withdrawn somewhere in there. Oops, oh well, no biggie).
JL
Do you know when you will be opening shop again?
Cheers
Any chance of joining in with other coin, DRK for example ? Thanks JL in advance. 
