/biz/ - Business & Finance

jnt cant solve this problem

Well, JNT is used as proof of solvency and the price is maintained through the use of a DAO. I'm not an expert but it seems feasible enough to me, makr for example has maintained solvency. During their initial simulations of the DAO Jibrel would have maintained solvency as well, if they accounted for the buffer and that was in the deepest month of the bear market. Besides, with additional JNT returning to the DAO through fees and whatever else they add it for, I don't see any reason why it shouldn't work.

>>9694089
Can you explain the DAO principle to me?

>>9694067
I know this is bait, but if this was tokenisation (fairly certain it was) then it seems obvious to me that they were only testing the DAO.

>>9694067
As its shown there, without any other mechanism than just buying JNT tokens, isn’t that essentially how ripple can operate if the banks choose that option?

I think JNT has more than just buy/sell JNT as the mechanism for tokenization.

>>9694067
You don't understand how a DAO works right? There is no chance that the JNT price would fall under the tokenized value, thanks to the DAO. No clue what you would waste so much time into a useless graph and not into reasing how the tokenizing works and how a DAO functions. Obviously the DAO is running right now, and only manual testing is, which cannot guruantee a floor.

>>9694114
The overall marketcap of JNT must exceed the value of tokenised assets, such as fiat, commodities, properties etc. This is maintained through a DAO, which is a collection of smart contracts. If the price of JNT is below the required point, it will buy more JNT until it reaches this point. If the price of JNT is above, it well sell some JNT to build up a reserve of USDT/BTC/ETH or whatever. In that way a floor is established regarding the tokenised assets at that point. You may wonder how the DAO gets the price of tokenised real world assets, this will be through oracle feeds. If Jibrel tokenised a bar of gold, the DAO would be updated with the price of gold through the oracle. Obviously fiat is much simpler. If you want to learn more about a DAO then Makr website is probably the place to go.

>>9694219
Wow that’s crazy. So JNT will utilize ETH smart contracts to accomplish all this essentially?

>>9694219
You are way too kind, anon.

>>9694389
Yep that is correct. The main attraction of Jibrel is their embedded regulation in the form of smart contracts. For example, whitelisting/blacklisting wallets based on KYC, then applying restrictions based on the amount of money transferred. It doesn't sound revolutionary but for the financial world this is going to be huge. Imagine being able to do exactly what western union do but without the 30 dollar fee, and instantly. Or picture real estate on the blockchain, if Rockefeller tower is tokenised and owned by 1000s of people who automatically collect rent paid out in cryptofiat, governance is decided by voting based on how many tokens you have. I don't know if Jibrel will pull it off at the end of everything, but this shit is going to change the world. It's just so useful.

>>9694558
Is there any concern of the speed and scalability of ETH as a blocchain, and JTNs smart contracts?

Will JNTs success be stringent on ETH implementing POS and Casper?

>>9694585
Yep right not they are built on Ethereum. They haven't commented on this, but I suspect Ethereum wouldn't be able to handle what they need in terms of transactions if this was adopted. So they are relying on Casper and sharding I suppose. Important to mention that they are developing their own blockchain right now, although that could be a long way out.

>>9695058
I did recall hearing that in one of Talals talk, big if true.

>>9695075
they've openly said thier own blockchain is in the works, its a matter of time

also if you're in a project not planning to have its own chain, get out now you're wasting your time and money

>>9695246
Isn’t that like REQ?

>>9694003
What do we have here? An informative JNT thread without fudding and memes? That's a first one

9 am wallet anon here

the number one wallet keeps adding

0x1c4b70a3968436b9a0a9cf5205c787eb81bb558c

here's a tranaction that just took place a bit ago:
https://etherscan.io/address/0x12dcafbd2baeae4280809a6fdd000198708271a5#tokentxns

They are litterrally taking coins from Bibox here and sending them to that wallet

something just doesnt add up, really open for opinions because i am not sure what this means

>>9695279
I’m also tired of all the telegram tards spamming biz with their autistic memes.

>>9695246
There are some exceptions where regulatory hindrings are targetted and not technical

This reminds me of the early JNT threads. Informative af without stupid FUD or shill, just straight facts.

Keep it up

>>9695310
M guess it is a disguised tokenizing wallet, to hide the manual testing

>>9695343
i dont want to larp here, but is there any other logical explanation? seriously?

>>9695368
What else should it be? Gate.io and bibox are the only two exchanges with serious volume to buy and sell JNT tokens. Now there are bibox tnx to the wallet too.

And obviously the team wont announce or inform the public about any manual testing or tokenizing

>>9695310
Seems like Bibox sends tokens to that wallet, multiple times spread over a few days.

That wallet then cleans out its entire JNT balance and sends it to a monster wallet, the same one every time:

0x1C4b70a3968436B9A0a9cf5205c787eb81Bb558c

The first comment says “GATE”. Seems like Bibox has an intermediary wallet to send JNT from Bibox to gate.

Not sure.

>>9695400
Arbitrage reasons or gate.io investing heavily into JNT.

>>9695310
Some guy suggested it was arbitrage, although I don't fully understand that especially with how many they've bought. Maybe it is tokenising and they have to bring in tokens from Bibox to fulfil the demand? Honestly I don't really know, it's a very strange wallet

>>9695400
The theory I proposed would fit into your theory. Wonder how it all works and why the 2 exchanges are sharing JNT.

It’s worth noting Bibox always sends JNT To the intermediary wallet, then JNT Is sent to gate wallet in that order.

The oldest transaction spans back 28 days.

>>9695432
If its Arbitrage then they would sell those coins, but this wallet is been buying JNTs mainly from exchanges and cold storing for the past 29 days. So they started doing this a month ago exactly, something is up behind the scenes for sure, no reason for gate to have the top three wallets, almost 50 million coins, two out of the three wallets are cold storage wallets. I dont know maybe someone smarter can come up with a better explanation i guess

>>9695479
Almost everything points to it being a tokenising wallet but why do they have all the other coins on it as well? I don't think Jibrel would store their JNT on gate.io....

>>9695447
The intermediary wallet is probably the deposit wallet for a gate account. They are sending it directly from their Bibox account to a gate account.

>>9695332

>>9695538
looooooooooooooooool this
and the banks hate him memes are everything :)

>>9695315

>>9695553
kek

gate is doing KYC, and being strict about it maybe this all ties up

You are no longer allowed to withdraw coins from gate without passport verification now right?

we will wait and see

>>9695684

>>9695684
Oh nice, I had no idea about that as I bought on Bibox. Interesting stuff.

>>9695684
This is true.

>>9695706

>>9695714

>No telegram tards or meme bullshit please ranjesh’s
>we can unironically see $1000 EOY
how about following your own rules faggot? ZERO chance we see anything about $10 max and more like 3-4 bucks tops.

>>9696492
>Pretending that a 10x is good enough