[ANN] The N.E.W.S. Asset launch



  • @ccminer said in [ANN] The N.E.W.S. Asset launch:

    @Burstminer said in [ANN] The N.E.W.S. Asset launch:

    he asset market cannot effectively grow un

    no he was not, at least not 100%

    My guess was that this was the drop that made the bucket spill. Maybe he was planning an exit strategy or maybe he didn't want to get verified at all as that was his plan, Regardless, as soon as the members started pushing for his verification, he started liquidating...


  • admin

    @Burstminer No, not verified, he sent me his details and I sent out the envelope, but didn't get the response to verify him. I'm using the info he did give me to try and get in touch with him to find out what's happening and get this resolved, but so far that's been unsuccessful.



  • @focus that makes complete sense.

    I only trust large investments in assets backed by forum mods period.

    cheers guys and good work on identifying this so quickly.



  • @Burstminer said in [ANN] The N.E.W.S. Asset launch:

    @focus that makes complete sense.

    I only trust large investments in assets backed by forum mods period.

    cheers guys and good work on identifying this so quickly.

    You shouldn't limit yourself to only mods, there are a lot of good assets out there



  • @Focus yeah actually yes your right ! my bad :)



  • @Burstminer said in [ANN] The N.E.W.S. Asset launch:

    This really shows the need for assets by real business or some sort of real insurance policy. The asset market cannot effectively grow until that portion is formalized.

    I think this is really needed. I mean people may have invested hard-earned money here, and then all of a sudden the asset issuer can just disappear? This should not be tolerated, investors (even if they own just 1 share) should be treated with all the due respect it demands the fact someone invest its money in whatever venture another one proposes. It's ridiculous to see this assets issuer claim that investors here have destroyed the asset. Can you believe this? It makes no sense whatsoever, its almost enough to just show up and give a proper update on the current situation. He is in fact dealing with money that DO NOT belong to him, but to investors as a whole.

    So sad to see people get discouraged with crypto because of things like this happen...



  • @vExact I could not agree more!

    I think good things will happen soon so don't worry :)



  • @vExact We are all pushing up the learning curve at the moment. Great to have the freedom of "Anyone can release an Asset" but need to make some moves towards the constraints of the due diligence that is needed in launching a stock on the stock market.

    It will take a time to find the happy compromise in the middle, and yes there will be some losses and some great successes along the way. Key thing is the old maxim of not risking any burst you cannot afford to loose and spread your investments.

    Rich



  • I really don't know what to say... this was my favorite asset, Jervis was very kind to me. We always had good conversations about BURST and the possibilities of this asset. I've tried to talk with him in the forum and in the chat, but not a single reply.

    I've convinced at least 5 friends to invest real money in BURST, and obviously in the asset that was my favorite, NEWS. It was 2 of this guys who were scared at first and asked me to come here in the forum or to someone else that could help with the strange things that were happening here. Well, all I can say folks is that: Crypto world is done for me. I'll keep my assets (Burstcombo, Worldmine and another 2 or 3) because I need this to pay guys that I've brought to NEWS. So yeah, I've lost half million Burst myself and I need to pay more than 2 million BURST to these guys. Obviously I don't have the money and I'm lucky that they accepted some of my assets and the income that the others will provide to keep paying them in the years to come. So I'm still hoping that BURST fly to the moon, but I'll not be here often anymore, cause this is VERY painful for me. I've felt in a BTC scam some weeks ago and I just can't take it anymore. Just needed to share a bit of "my drama" with you. Hope you all guys have a great 2017.



  • @JotaJota Sorry to hear so!
    you got the wrong asset!
    Good luck to you ;)



  • I have some of this asset. I understand the push for identity verification and I'm all for that. However, it doesn't necessarily change anything. A scammer is going to scam. Period. If anyone has ever traded penny or OTC stocks, you'll know what I mean. There is HUGE volatility, great potential upside, seems gold when it's shit on a stick and these people all file their personal information with the exchange, SCC filings, PR campaigns etc., and if you do it long enough you see the trend and the same names fucking people over, repeatedly. So you learn to look more into the data, the filings, and/or you literally flip so quick that none of that matters. Now I know that's trading and not as applicable in regards to the "assets" here and Burst, but while getting verified and having the @haitch seal of approval is great and creates trust, people will still scam if that's who "they" are. It sucks that everyone, including myself bought into this and he ended up scamming (so everyone believes and it does appear), but I'll learn from this experience in relation to who's assets I buy moving forward.

    I kind of see it as I never "lose", I either win or I learn..


  • admin

    @CryptoBuc No Verified Asset Issuer has scammed. Zero. They know I have their verifiable identity and the impacted investors can act on that. Every scam asset was a non-verified member.



  • @haitch I wasn't trying to imply anyone verified by you has scammed in Burst. I was merely pointing out that even in the real stock market and dealing with millions of millions of US dollars, a fake "CEO/CFO" has no problem giving their real identity away and they still scam and swindle. I just meant if that's who they are in character it's not going to phase or sway them.


  • admin

    @CryptoBuc I get that, but risk/reward is not so high in Burst Assets. Ripping off the public for a few Billion as a corporate CEO, compared to ripping off small investors for a $10's of K. The huge scammers can afford the lawyers, the small ones don't have that ability and stand exposed.



  • @haitch True. It sucks that good people and their money are/were taken advantaged of. I'll look and see this as a learning experience for moving forward and will just be a bit more hesitant on my choice of buying into "new" assets.


  • admin

    @CryptoBuc That's why I proposed only allowing ID verified members to advertise here. That idea was shot down by the community.



  • @haitch i would have an idea as well. But again it would take time for someone from the mod squad. Probably we could create extra trust in some assets if the asset issuer would hold the asset shares they bought to back their asset on a wallet controled by someone from the mods. The mod could then just send him the dividends once daily or weakly . If he wanted to buy new shares in another assets he would send them ower to the mod controlled wallet. As well if he wanted to sell shares held by the asset he would contact the mod/s and they would sell it for him or send him the specified ones. (we could make up rules for this) I believe it could be done and the asset issuer would actually pay the mod some burst for doing this. Or give him some free shares. Still i would not force this on asset issuers, just using it as another optional way to build more trust to the assets. And yes i know that the assets would cower only a small part of the lost burst if it turned out to be a scam. But atleast something would be left ower. And in the case there would be a scam. The shares and shareholders could be taken ower by other asset(we would create an auction betven other asset issuer who would like to take the leftower shares in to their asset. And they would give burst or shares to the not so lucky shareholders) or just someone could start control the rest of the asset. I believe it would create some trust. Of course someone from the mods or more of them, would have a lot of extra jobb but he/they wouldnt do this for free . As i said it could be agreed between the asset issuer and him (or them) what payment they would get for it! Just an idea.


  • admin

    @potkas That's pretty much the escrow system I offer asset issuers. I setup an account for them where they send a percentage of the share sale income for a minimum of 1 year. Socal is sending 50% of all asset sales into the escrow - if he disappears or the asset fails, the escrow fund gets paid back to investors.



  • @haitch So it is great if its like that :) . I havent noticed that one. atleast i did not know its works like that. But thanks for explaining it to me . Im thinking of starting a small but prety stable asset as well .I have some ideas how it suposed to work . But i have some issues which are stopping me from doing so at the moment. I plan to contact you ower this in the future if i will decide to push it forward. And i will explain that to you. But the escrow is just great stuff. Its something what i was looking for! part of the issues would be already solwed :) .


  • admin

    @potkas Just to elaborate on how I'm doing it with Socal. I setup two accounts, the primary Escrow, and the fund holding escrow. Socal issued his asset, then sent all the shares to the primary account. That account puts the shares up for sale, and receives the income from selling the shares - so Socal can't cheat the escrow. At the end of each selling block, 50% of the funds go to Socal, 50% go to the long term holding account, and then the accounts puts more shares up for sale.

    So basically Socal has given up 100% of control of the asset and it's funds, and only when the asset meets sales goals does he get 50% of the funds. Impossible to cheat on. At the end of the escrow period, if all payout commitments have been met, then the remaining funds and shares are released back to him.


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