[PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details



  • I say freedom and wisdom to make our own decisions wether to issue or support assets.

    There is nothing stopping anyone from pressing that button and paying 1000 burst to issue an asset nothing at all but ones own conscience and nothing stopping one from purchasing an asset but ones own better judgement.

    no one can prevent these inalienable rights of burst.

    i think this is a perfect opportunity to test @haitch self doxxing approach to responsible bursting. what are we afraid of? don't like it? don't buy the asset.

    I've been going on for weeks how burst ecosystem needs a verification process and i'll do everyone a solid and analyze the financial capabilities of @socal asset model and provide for a rating based on comparisons of other well known burst assets like byte ent NEWS and bsilver.

    how bout that?



  • @goodplanets Helping people to make the right calls when buying an asset is good... And you are right that nothing can be controlled regarding to issue an asset but what is the point of issue an asset if no one will buy it right? My directions above are directed to issuers not buyers ;D



  • @goodplanets said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    I say freedom and wisdom to make our own decisions wether to issue or support assets.

    There is nothing stopping anyone from pressing that button and paying 1000 burst to issue an asset nothing at all but ones own conscience and nothing stopping one from purchasing an asset but ones own better judgement.

    no one can prevent these inalienable rights of burst.

    i think this is a perfect opportunity to test @haitch self doxxing approach to responsible bursting. what are we afraid of? don't like it? don't buy the asset.

    I've been going on for weeks how burst ecosystem needs a verification process and i'll do everyone a solid and analyze the financial capabilities of @socal asset model and provide for a rating based on comparisons of other well known burst assets like byte ent NEWS and bsilver.

    how bout that?

    I would love a fiscal assessment of my proposed plan. Also as of right now I think a hybrid approach would be best since my Asset has become the de facto test bed for new Asset Issuing Guidelines.
    As such I will provide the first 13 TB of mining and then sell a 50,000 share block to purchase a further 10 TB, this will be secured by my 13TB worth of HDD and then as trust/interest grows more 50,000 share blocks can be sold for further 10TB expansions. This allows for future growth to be financed and driven entirely by interest/support in the Asset instead of being 100% dependent upon my 10% fee, also of note just because there will be a 10% fee DOES NOT mean I will be getting 10% it means the Escrow will be getting the 10% and then releasing just enough to pay for electricity and reinvesting the rest into further Hardware upgrades



  • Very interesting debate!
    From how I see it, @socal pre-Announced an idea and is following forum laws with ID verification, escrows and so on .. nothing wrong in that. It might be a scam and might be another hot asset, No one is Forced to buy unless they see opportunity in it.
    Similar Asset came to Burst a while ago, the owner launched it very shortly after joining the forum and before ID verification; yet, it is the hottest asset today mining and supporting the network.

    What is wrong to me is when I see someone abusing administrative powers in the forum to lock a thread claiming to protect the community and start throwing words to the new guy and even allowing someone who is already selling an asset without ID verification and trading it in another currency to threaten the whole Burst network just to not allow new miner in.

    The pre-ann topic here is not even for discussion, an asset is out there and users have the choice to buy or not. The topic for discussion should be @haitch giving privileges to wrong people on the forum.



  • I believe, with the right guidance, asset issuers (noob or not) and investors (noob or not) can make better* decisions regarding the proposition and support.

    *edit: word choice, grammar



  • @goodplanets That is exactly what it is!
    No one should be banned from issuing an Asset .. Doing the extra ID verification process and paying escrow would make investors feel safe to buy the asset. Many Assets on the exchange did not give a sense of security to the investor and yet people are crazy buying it.



  • Wowww long read to get to the bottom.

    So putting aside newbieness, evidence of hardware, experience in Burst or setting up and running a Burst Mining Operation etc. My question for this any any other new Mining Asset is :-

    @socal Why should anyone invest in it and what differentiates this Mining Asset from the established choice of Mining Assets we already have?

    I appreciate that if the answer is nothing, that perhaps people should choose not to invest, however unfortunately some people seem to invest in any Asset that is out there.

    Rich



  • @RichBC said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    Wowww long read to get to the bottom.

    So putting aside newbieness, evidence of hardware, experience in Burst or setting up and running a Burst Mining Operation etc. My question for this any any other new Mining Asset is :-

    @socal Why should anyone invest in it and what differentiates this Mining Asset from the established choice of Mining Assets we already have?

    I appreciate that if the answer is nothing, that perhaps people should choose not to invest, however unfortunately some people seem to invest in any Asset that is out there.

    Rich

    Quite honestly the reason s to invest are as follows:

    1. After doing some research I feel confident that I can supply one of, if not THE, cheapest price per TB

    2. With the business model I have in place not only is future growth guaranteed, provided there is interest in the Asset i.e a steady sale of shares, but a minimum of 50% coverage for every Burst invested makes my Asset unique in that no matter what happens all investors are guaranteed a minimum of 50% reimbursement

    3. The most obvious and mundane of all, to help secure the Burst network and to help balance the net hash between the pools

    I hope these reasons are valid enough for your liking although I realize that no matter what there will always be people who don't have the risk tolerance to invest in my asset.



  • There is one more thing I wish to posit to you all, how would you all feel if after a set amount of time.....say 12 months, I take a vote of the shareholders to see if they wish to release some/all of the Escrow holdings for expansion or if they wish to maintain their 50% Investor Insurance. To make it fair the vote would be for asset holders only, with each account getting only one vote (i.e. non-weighted)



  • @socal said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    After doing some research I feel confident that I can supply one of, if not THE, cheapest price per TB
    I realize that no matter what there will always be people who don't have the risk tolerance to invest in my asset.

    For me it's not about risk in itself it's about what differentiates the setup or the Owner that makes the investment worth the risk, and do I have confidence that it will be delivered.

    So what is it about your setup that enables you to offer cheaper $/TB than anyone else? Please provide some figures and comparisons with current Mining Asset providers?

    Rich



  • @RichBC said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @socal said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    After doing some research I feel confident that I can supply one of, if not THE, cheapest price per TB
    I realize that no matter what there will always be people who don't have the risk tolerance to invest in my asset.

    For me it's not about risk in itself it's about what differentiates the setup or the Owner that makes the investment worth the risk, and do I have confidence that it will be delivered.

    So what is it about your setup that enables you to offer cheaper $/TB than anyone else? Please provide some figures and comparisons with current Mining Asset providers?

    Rich

    Sure, but please bear in mind these are just some highlights and does not encompass every single facet of each asset

    O.G. Burst = 8000 Sat/share ~ 1100+ Burst per share with 250,000 shares (brought to asset parity that equates to over 275 Burst per share compared to my 20) No 50% Escrow

    BCMPMiner = 2 Burst per share with 500,000 shares (brought to parity that is 1 Burst per share compared to my 20) Rig is only 7.8 TB with a 5% fee for administration and maintenance with upgrades to come out of the 5% fee No 50% Escrow

    CCMINER = 10 Burst/share with 600,000 shares (brought to parity that gives slightly more than 5 Burst per share compared to my 20) Rig is a direct buy asset every 60,000 share sold pays directly for the next 10TB 10% fee No 50% Escrow

    Superskid = 56 Burst/share 82,000 shares (brought to parity that gives a cost of slightly over 5 Burst per share compared to my 20) 15% fee, only 82TB max mining size, no 50% Escrow



  • now with all of that said I am offering 10 TB of mining plus 50% Investor Insurance held in Escrow, for every 50,000 share block sold (minus a 10% fee to cover electrical costs and for reinvestment into the asset) that gives me an operating cost of $25/TB PLUS $25 of Insurance for every TB (this is assuming a rate of 1 Burst = 70 sat and 1 BTC = $770)



  • This gives us a cap of 160 TB of mining capacity WITHOUT releasing any Escrow funds or up to 320TB of mining capacity depending on amount of Escrow funds asset holders decide to release (if any) and how well reinvestment into the asset from the fee has gone (I.e. did we make good dividends or not) I believe that at the current time a 160 TB mining asset would be able to generate quiet a bit of dividend revenue for quite some time and if this model proves viable and popular there is nothing to limit a second asset with a second rig after capping the first asset



  • Extra capacity could also be built in by increasing the PPS for subsequent share offerings, just some ideas OK all bed time for me, hopefully I have interested some of you with my proposed asset and I look forward to working on this project with all of you



  • Holly molly this got out of hand while i was sleeping :)
    Anyways wanted to add to what @MikeMike @haitch @gpedro and some others were talking about asset issuing. This thought is completly apart from this thread asset (i just dont invest into burst mining assets).
    For me asset issuing is same thing as if i would open a buisness - since i dont have enough money myself i find investors (in this case ppl willing to buy my asset) explain and detalize how it will work, how much will be paid back and so on. I also did a post before release to see if there would be any interest. There was very little lol, but still decided to risk and open it (1000 Burst was a hefty price for me at the time) and now its still going slow but its moving and once the dividends start paying out who knows maybe even gonna sell out all asset (my wishfull thinking lol). Now i dont have escrow, not identified with haitch, so i am running on pure trust, trust that i hope i earned by helping some, talking with others, explaining how it works etc. And now that my asset is alive i pour everything i get into it (i do some dmall mining) by buying its shares to my personal wallet.
    So long story short. Investement will never be safe neither in Burst neither real life. It comes with risk and clever investors know it.

    I might add to this later as i probably missed something while writing :) But now returning this thread back to its owner :)


  • admin

    @socal The escrow funds are held for 12 months minimum - if at that time your asset has been performing as announced, and making regular payouts, ALL escrowed funds will be sent to you. If for any reason I still have concerns about the asset, the escrowed funds will be released incrementally as long as the asset continues to make payouts and operate transparently. If the asset stops paying out or you disappear, then on my judgement I'll ask the investors whether to consider the asset abandoned and send the escrowed funds back to investors.



  • @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @socal The escrow funds are held for 12 months minimum - if at that time your asset has been performing as announced, and making regular payouts, ALL escrowed funds will be sent to you. If for any reason I still have concerns about the asset, the escrowed funds will be released incrementally as long as the asset continues to make payouts and operate transparently. If the asset stops paying out or you disappear, then on my judgement I'll ask the investors whether to consider the asset abandoned and send the escrowed funds back to investors.

    This I know, BUT I will keep those funds Escrowed to provide the Investor Insurance if that is what the shareholders choose to do after a year


  • admin

    @socal said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @socal The escrow funds are held for 12 months minimum - if at that time your asset has been performing as announced, and making regular payouts, ALL escrowed funds will be sent to you. If for any reason I still have concerns about the asset, the escrowed funds will be released incrementally as long as the asset continues to make payouts and operate transparently. If the asset stops paying out or you disappear, then on my judgement I'll ask the investors whether to consider the asset abandoned and send the escrowed funds back to investors.

    This I know, BUT I will keep those funds Escrowed to provide the Investor Insurance if that is what the shareholders choose to do after a year

    If you choose to keep them escrowed longer, then that's fine - but if the asset has been honest, then releasing the funds would allow a significant increase in the mining hardware for the asset. I'll leave it for the community investors to decide though..



  • @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @socal said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @socal The escrow funds are held for 12 months minimum - if at that time your asset has been performing as announced, and making regular payouts, ALL escrowed funds will be sent to you. If for any reason I still have concerns about the asset, the escrowed funds will be released incrementally as long as the asset continues to make payouts and operate transparently. If the asset stops paying out or you disappear, then on my judgement I'll ask the investors whether to consider the asset abandoned and send the escrowed funds back to investors.

    This I know, BUT I will keep those funds Escrowed to provide the Investor Insurance if that is what the shareholders choose to do after a year

    If you choose to keep them escrowed longer, then that's fine - but if the asset has been honest, then releasing the funds would allow a significant increase in the mining hardware for the asset. I'll leave it for the community investors to decide though..

    correct, it would allow for a doubling of effective mining capacity, but I will leave it to the shareholders to choose


  • admin

    I haven't read everything yet, but:

    alt text


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