402



  • So @nameless this is then the real deal? :D I even did not know 402 already existed. Problem is I landed in Burstland by November last year. Not too late, but not so early either :)



  • @nameless What if I decide not to sell the asset and after 20 years it will be liquidated.How I will get my $ back?



  • @Ip85 said in 402:

    @nameless What if I decide not to sell the asset and after 20 years it will be liquidated.How I will get my $ back?

    liquidation means me buying back the asset :)

    ...so...you're good



  • @nameless How will the merge happen?



  • @stupendelious , through a shares redemption/exchange. if you already hold shares in 402, you don't have to do anything.

    If however you hold NEWSILVER, FAD or 500k, i'll post the instructions next week. It's as simple as you sending me your whatever shares, and i send back the appropriate amount of 402 in exchange



  • @vExact said in 402:

    So @nameless this is then the real deal? :D I even did not know 402 already existed. Problem is I landed in Burstland by November last year. Not too late, but not so early either :)

    oh it's as real as it gets. because of the fact that it wasn't paying dividends initially, it never got much love (although it raised 30k dollars lol) . Anyway, 402 will take the new direction as you might have noticed so whether you bought in 3 months ago or today, you're still golden!



  • @nameless you should call yourself the nameless transmutator LOL Keep up that spirit! We need it :)



  • @nameless This merge is going to be sweet! So just to make sure i get this, this asset will have the aspects of all the assets that are getting merged, correct?



  • @stupendelious said in 402:

    @nameless This merge is going to be sweet! So just to make sure i get this, this asset will have the aspects of all the assets that are getting merged, correct?

    yup



  • So...party times !!!!

    I just paid out the first dividend in the restructured 402. Well, it was 2 dividends since i was supposed to start this yesterday, but i forgot :)

    0_1486379715331_gss.jpg



  • @nameless when will newsilver be exchangeable?



  • @stupendelious said in 402:

    @nameless when will newsilver be exchangeable?

    very soon. i still have some FAD and 500k to redeem.

    don't worry about newsilver for now. you are earning dividends on that daily as well just like till now. i have to make the newsilver payment as well a bit later as soon as my burst order fills on polo



  • @nameless oh snap while been away due to flu there is so much changes, will need to check my assets if i have some of these or not :)
    As i understand i just send to that address what i got and thats it, or should i post somewhere the transaction id?



  • @LithStud , nah..just send and ye shall receive



  • @nameless Could I see records on one of the dividends? I am planning on investing some burst into an asset that pays daily and I want to see what my best options are. Thanks!



  • @kmaxkmax said in 402:

    @nameless Could I see records on one of the dividends? I am planning on investing some burst into an asset that pays daily and I want to see what my best options are. Thanks!

    good idea on that one. i completely forgot to keep track of 402 dividends. But if you look into the issuer account, you'll get the picture, or if you wait a few dividends, you'll have full records as well



  • @nameless Ok Thx!



  • Look I'm very new here. In no way am I trying to start any ****. Nameless thank you much for helping answer technical questions I have made concerning Burst.

    However I am very confused here. From my point of view what I essentially see is that folks are investing their crypto to invest in fiat trading? I'm just a ol farm raised boy from Kentucky but to me that seems kind of backwards.
    What happens when the USD and fiat currencies of the world crash and all the fiat that the cypto was invested into is worthless? Is everyone going to be saying "man I wish I had that crypto back? " Then their is the aspect of "what if the Burst exchange crashes and no one is buying?"



  • @Dillion , very fair points you brought up :)

    Both these subjects were debated a loooong time ago. Long story short, everyone who invests with me knows what they are investing in , but they also know that i am slowly building up a crypto reserve as well for backup. My asset is also backed by a ton of other assets and currencies... so, we're good :)

    As far as the AE crashing ... not very likely, BUT, we are already working on it. I have some big people already starting to provide a lot of liquidity for some assets, and we're working on gathering even more. Investors are also starting to realize that it's a good idea to put a penny into orders and keep the exchanges stable.

    Overall, we're just like the real world stock market here with the AE. It grows slow, but stable. Daily trade volumes have been growing at a steady rate for the past 7 months. I think we'll be fine.



  • Attention all investors!

    You will all see an asset transfer in your wallets on behalf of 402. Your shares holdings has just increased about 6 times !!!

    Why did i do this?

    Starting from right now, ALL of 402 is in the hands of investors. This is me officially putting a cap to the asset.
    402 has grown into a marvel and is the second largest dividend payer after burst casino. As i stated before, i might never sell any more shares, and i lived up to my promise : there are none left to sell :D
    402 can grow on its own without the need to sell any more shares, so the logical way to cap it was for everyone to get their fair share and have the whole damn thing belong to the people, as it should.

    Given this, i also expect share price to drop 6x at least.
    Now remember, despite share price dropping like a stone, your holdings have increased 6x as well, so you have literally the same value, but more shares :)

    I hope you all understand why i did this and that this is nothing but a great thing for us all.

    I have kept a few shares back because i will award myself 5% of the total (it's time for me to earn a bit on my assets as well), and i need a few more million to exchange the NEWSILVER, 500k and FAD remaining shares on the market.

    That being said, we have now reached the final shares structure. From here on out, 402 will grow on its own and it is 100% in the hands of investors and me personally.

    As far as shares redemption goes, all future redemptions will get the according number of 402 shares :)

    1 newsilver share = 30 shares of 402
    1 500k share = 12 shares of 402
    1 FAD share = 36 shares of 402


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