[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:

    oh I will be doing all verifications and such and using escrow.

    I am also thinking about increasing share size by an order of 10 so the new breakdown would be

    1st Round - 500,000 Shares @ 10 Burst/Share

    2nd Round 250,000 Shares @ 15 Burst/Share

    3rd Round 250,000 Shares @ 20 Burst/Share

    This gives a total of 13.75 million Burst, 50% of which will go directly to escrow, which will provide ~100TB of dedicated Burst mining that will be personally managed and upkept by myself.

    what do you all think?

    OK this is a real farce now.


  • admin

    @Focus Why farce?

    Looking at some of the other mining assets:

    ccminer - 6M Burst
    ibmining - 50M Burst
    MCM - 10M Burst
    ogburst 25 BTC ( 33M Burst).

    13M Burst, half invested in hardware to mine with, half in escrow to protect the investors - which no other asset has done - seems very reasonable to me.


  • admin

    @Focus Please stop locking this topic.



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

    @Focus Why farce?

    Looking at some of the other mining assets:

    ccminer - 6M Burst
    ibmining - 50M Burst
    MCM - 10M Burst
    ogburst 25 BTC ( 33M Burst).

    13M Burst, half invested in hardware to mine with, half in escrow to protect the investors - which no other asset has done - seems very reasonable to me.

    Well seeing the numbers on the other assets does make me feel better about the numbers I'm running but actually just as proof of concept I'll keep it at the original share schedule for a total of 10TB, once its been proven to work as advertised another asset for a larger rig can be made


  • admin

    @socal Look at doing at the way ccminer did - don't create multiple assets, make one, but release the shares in phases. Use each phase to purchase the hardware and get it mining, then release the next phase and so on ....

    https://forums.burst-team.us/topic/2466/ann-ccminer_100tb-new-asset



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

    @socal Look at doing at the way ccminer did - don't create multiple assets, make one, but release the shares in phases. Use each phase to purchase the hardware and get it mining, then release the next phase and so on ....

    https://forums.burst-team.us/topic/2466/ann-ccminer_100tb-new-asset

    AND your escrow will have control of the funds, yes so I'll just make the 1,000,000 Share asset and release it in like 50,000 or 100,000 share chunks



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

    @Focus Please stop locking this topic.

    I locked this post because he is trying to taunt me by upvoting my post saying this is a farce.



  • @Focus 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:

    @Focus Please stop locking this topic.

    I locked this post because he is trying to taunt me by upvoting my post saying this is a farce.

    or maybe I just respected your right to free speech and appreciated you exercising that right and providing me with feedback from my brainstorming Pre-Ann



  • @Focus 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:

    @Focus 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:

    @Focus Please stop locking this topic.

    I locked this post because he is trying to taunt me by upvoting my post saying this is a farce.

    or maybe I just respected your right to free speech and appreciated you exercising that right and providing me with feedback from my brainstorming Pre-Ann

    Listen to me very carefully socal, If you are trying to provoke me, I promise you that it will finish badly for you in the Burst community, allready you're not off to a good start. Do you not think that all the members see how you are acting and trying to provoke and furthermore are trying to flat out PROFIT from this community??

    Ok bud, I've already broken down all the steps to be taken to mitigate investor risk and solutions to all issues pointed out by you, yet you continue to be hostile. Same goes for you bud, do you not think that the community can't see how hostile, irrational, and just plain combative you have been? I have also laid out how I am NOT profiting from this but doing it to help strengthen and grow Burst, so making wild accusations will garner you nothing.


  • admin

    @Focus I don't care if he upvotes you, requotes you - this thread is an open discussion of his idea for an asset. If I think an asset discussion is a scam, I'll lock/nuke it, but you don't because you don't like the guys idea or something he does/says to you.



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

    @Focus 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:

    @Focus 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:

    @Focus Please stop locking this topic.

    I locked this post because he is trying to taunt me by upvoting my post saying this is a farce.

    or maybe I just respected your right to free speech and appreciated you exercising that right and providing me with feedback from my brainstorming Pre-Ann

    Listen to me very carefully socal, If you are trying to provoke me, I promise you that it will finish badly for you in the Burst community, allready you're not off to a good start. Do you not think that all the members see how you are acting and trying to provoke and furthermore are trying to flat out PROFIT from this community??

    Ok bud, I've already broken down all the steps to be taken to mitigate investor risk and solutions to all issues pointed out by you, yet you continue to be hostile. Same goes for you bud, do you not think that the community can't see how hostile, irrational, and just plain combative you have been? I have also laid out how I am NOT profiting from this but doing it to help strengthen and grow Burst, so making wild accusations will garner you nothing.

    I don't need to worry about the community cause unlike you I earned my respect from them, and contrary to you I have only helped benefit the community, now if you really want to do the same, then go out, build yourself a miner and then come back with your asset.



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

    @Focus I don't care if he upvotes you, requotes you - this thread is an open discussion of his idea for an asset. If I think an asset discussion is a scam, I'll lock/nuke it, but you don't because you don't like the guys idea or something he does/says to you.

    It's not about him, it's about the condacending sneaky ways he is going about it, especially thinking that he's got an ADMIN on his corner



  • @haitch @Focus Hmm... Well I can't deny the Fact that there have been lot of scams in Burst commmunity in the past. But let me bring it to your notice that not only Newbies but some Great people with lots of posts & reputation have ended up scamming the Community. But since this thread is just about the discussion & not Actual release, everyone has got right to put forward their views, whether it be positive or negative :)

    But In any case, @socal I would suggest you to start a poll & ask people if they will be interested in Investing in your Asset YES/NO
    So you get to know if you should go ahead & launch this Asset or not... ;)


  • admin

    @Focus I'll support anyone and everyone in this community (I'm providing free hosting servers to a number of projects, and am invested in pretty much all assets), until they give me a reason not to. Socal may be new, you may not like his idea, but he's willing to go further than anyone else has done to protect people investing in his asset. I'll support and advise him in those efforts, and if he turns on the community, I'll be the first to start the hunt to track him down and make things right.

    It's up to the community to decide if they want to invest in his idea, but I'll support those efforts even if he does rub you up the wrong way.



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

    @haitch @Focus Hmm... Well I can't deny the Fact that there have been lot of scams in Burst commmunity in the past. But let me bring it to your notice that not only Newbies but some Great people with lots of posts & reputation have ended up scamming the Community. But since this thread is just about the discussion & not Actual release, everyone has got right to put forward their views, whether it be positive or negative :)

    But In any case, @socal I would suggest you to start a poll & ask people if they will be interested in Investing in your Asset YES/NO
    So you get to know if you should go ahead & launch this Asset or not... ;)

    You guys don't understand. It's an asset if he has something to offer, he does not. He wants the community to fund the purchasing of hard drives by taking their money and dumping it on exchanges therefore lowering the price. THIS IS NOT AN ASSET, and these typed of threads have to stop. We are trying to build Burst not take away from it to further people's mining rigs. Build the rig FIRST, sell the asset after.



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

    @Focus I'll support anyone and everyone in this community (I'm providing free hosting servers to a number of projects, and am invested in pretty much all assets), until they give me a reason not to. Socal may be new, you may not like his idea, but he's willing to go further than anyone else has done to protect people investing in his asset. I'll support and advise him in those efforts, and if he turns on the community, I'll be the first to start the hunt to track him down and make things right.

    It's up to the community to decide if they want to invest in his idea, but I'll support those efforts even if he does rub you up the wrong way.

    No he's not, I told him to have crowetic host the mining operation, and he just came back with: I want 13 million burst now for 100TB and I will be controlling and hosting myself



  • anyway so this is how the Asset would break down:

    I create the Asset with 1,000,000 Shares and Transfer all shares to Haitch's Escrow who will handle the IPO and distribution of funds to me.

    Several rounds of Share offerings will occur (exact number and price TBD but between 10 and 25 BURST per share) , with each round funding another expansion, this could easily be done in 50,000 share rounds at 15 Burst/share which = ~10+TB of mining capacity with each round financing a further ~10+TB.

    Fee would be 10%-15% (still TBD) I just need enough to cover electrical costs and the remainder of the fee will be put aside to help finance future expansion, either I can do this or it can be returned to Haitch's Escrow for secure management. the fee would also only be taken out of each Share Round to keep parity with everyone else so instead of getting 10% of 1,000,000 right off the top it would be only 10% of each 50,000 Share Round so that the mining payout distribution remains fair.

    so with all of that worked out this is how all the math would pan out:

    Total Shares: 1,000,000 PPS: 20 Burst Total Shares Available for Sale: 900,000 (100,000 to be held for fees, released in 5,000 share lots with each Share Offering Round)

    Each round will be a total of 50,000 shares 45,000 for sale 5,000 for fees so 45,000 x 20 = 900,000 Burst for each funding round

    900,000/2 = 450,0000 Burst for ~10TB + associated hardware, shipping, tax, etc; the other 450,000 goes straight to Haitch's Escrow as "Investor Insurance" so no matter what happens EVERY SINGLE INVESTOR IS INSURED FOR 50% OF THEIR INITIAL INVESTMENT BY THE ASSET ITSELF, This is the First Burst Asset to offer such a service .

    When all assets have been sold total sales would be 18,000,000 Burst, assuming an exchange rate of 70 sats that equates to 12.6 BTC, 6.3 BTC worth of Burst would be held by the Escrow for Investor Insurance the other 6.3 BTC would buy ~160TB give or take depending on HD prices, and exchange rates.

    IMPORTANT NOTE:

    I would NOT recieve 6.3 BTC up front as stated it will be done in smaller rounds with each round financing another expansion of the Assets mining capacity

    As you all can see this is still a rough draft but the numbers are all there

    Please point out any discrepancies or faulty math, thanks


  • admin

    @Focus How much did the other assets that used the funds from selling the asset to fund the mining hardware affect the market?

    Why were those ones okay, but this ones not ?

    Why should he put the means of producing dividends in the hands of someone who is not responsible for his asset? Do you and Adam want to send me your hardware to mine with on your behalf ?



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

    @haitch @Focus Hmm... Well I can't deny the Fact that there have been lot of scams in Burst commmunity in the past. But let me bring it to your notice that not only Newbies but some Great people with lots of posts & reputation have ended up scamming the Community. But since this thread is just about the discussion & not Actual release, everyone has got right to put forward their views, whether it be positive or negative :)

    But In any case, @socal I would suggest you to start a poll & ask people if they will be interested in Investing in your Asset YES/NO
    So you get to know if you should go ahead & launch this Asset or not... ;)

    Yes that was kind of the point of this thread, to hammer out an agreeable plan with the communities input and to measure interest in such a project



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

    @Focus How much did the other assets that used the funds from selling the asset to fund the mining hardware affect the market?

    Why were those ones okay, but this ones not ?

    Why should he put the means of producing dividends in the hands of someone who is not responsible for his asset? Do you and Adam want to send me your hardware to mine with on your behalf ?

    Let me answer your questions one by one, 12M Burst traded is mostly buys for casino, 10 BTC and more has been pumped into the exchange in the past week alone to raise the floor, and guess what, we are right back at the same point we were last week from people dumping.

    Adam and I's hardware has been paid from OUR Pockets, every single penny. Furthermore, Adam is not even selling his asset for Burst to avoid having to dump and lower the price, on the contrary, he has stated that every single penny collected from the asset is going right back into poloniex to BUY straight off the sell book and raise the price.

    My Miners, all 170TB of them have been paid right from my pocket, I did not make the Burst community pay for my operation, And I have been more than kind with everyone in the community, offering pool bonuses, including my personal 20% in the dividend to make my investors happy. As for the assets I have issued, would you like to see proof that every single Burst collected is still accounted for in wallets?

    And lastly, why should he put it in the hands of someone else is simple, he is trying to issue an asset and has fuck all to show for it, 3TB?? So like I said, either he builds a rig and comes back for his asset, or put it in the control of an established member of the Burst Team, not someone who just joined the forum 8 hours ago.

    Come on haitch, you are being totally irrational right now.


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