Quote from: AltcoinScamfinder on December 01, 2015, 09:13:33 PM

Quote from: rlh on December 01, 2015, 08:01:54 PM

Quote from: rdanneskjoldr on December 01, 2015, 07:19:31 PM

34328 JINN have been sent, 34% of all sold in IPO. Which are worth 216,26 btc

+ 280.76 in btc directly.

Almost 500 btc milestone achieved for IOTA ICO.

I had considered trading in a few of my JINN to pad my IOTA holdings but after seeing the response there is NO WAY I'm giving up my JINN assets. This is over 1/3 of all public JINN assets, given back to Triangle. Triangle has done a good job buying back public shares and, in my opinion, this both proves they are quite hopeful of their project AND they want their shares back!

I think I'm going to empty my Nxt reserves in buying into JINN and holding both this and IOTA. You can't remove +33% of a market and not expect it to have a net-positive reflection in price (assuming you believe the asset is legit.)

I am not so hopeful. The fact that more than 30% of ALL Jinn are invested in the ICO means that even at current rate close to half of all Jinn owners would rather trade them out for BTC (or BTC equivalent asset) at a price under market price, than hold them.

And what will happen in the illiquid Jinn market if the IOTA team needs to cash out. 200+ BTC worth of Jinn would in the current market absolutely destroy the price (If there is even buyers for anything close to that amount).

I am really wondering why the IOTA team decided to accept such an illiquid asset as a means for payment. I am really hoping they have a good reason.

I assume you're not paying attention to the Nxt blockchain and the mentioned JINN asset. As outlined from the beginning, Triangle create 1,000,000 JINN tokens and sold to the public (through a dutch auction) 10% of these profit-shares (or whatever they legally need to call them.)

If JINN/Triangle were a scam, and had they intended to dump assets on the order book, they have more than enough shares to clear it out, take all of the Nxt and run to the nearest exchanges to cash out some BTC.

They don't need to buy back these shares. They've increased their profit stake from 90% to ~93.4%. That ~3.4% isn't of much use unless they are trying to buy back portions of their company (or, err, profits) because they see value in taking back as much of the public holdings as they can.

EDIT

I take no issue with this, and I personally think it's a smart move on their part. They're creating a fair mechanism to buy back assets from the "weak hands" by handing over to them an asset that will very-likely increase in value immediately as soon as the software is delivered and IOTA is listed on the first major exchange.