[ANN] SocalsFarm (Mining Asset) 50% Investor Insurance



  • @socal i didn't get quite unlightned with your response... The @haitch 's 95Tb will be used as bonus or they will be used as initial pre plotted drives that will be distributed like if you sell enough assets to buy 10Tb you got 10.53% (wich corresponds to 10Tb of his 95Tb) of mined by the 95 Tb total to pay dividends?



  • @gpedro ah OK I see what you are asking now, it will be a Bonus since the 95TB belong to Haitch and not the asset. So this 95TB is meant to help the asset launch and give something to the early investors.

    When you buy shares you are buying Asset owned mining capacity, as of right now that would be 3TB, but as stated Haitch's 95TB will be backing the asset as well until such a time that Haitch feels the asset is viable enough to stand on its own. But for however long the 95TB is used for the asset you will get that rate of pay so as you stated if you buy 100,000 shares (10%) you will get dividends equivalent to mining with 9.8 TB (Haitch's 95TB + Asset owned 3TB = 98TB) and that amount will go up as more HDDs are added so after the first expansion it'll be 10.8TB then 11.8TB etc etc

    That being said here's the tl;dr version:

    Haitch's 95 TB are a Bonus and are not Asset owned HDDs

    Did this answer your question a little better?


  • admin

    @gpedro I'll have 95TB mining on a pool on behalf of the asset, I'll be sending him the earnings from those miners. At some point when his farm grows I'll go back to mining for my self.



  • Also I will post here when dividends have been paid, which will be weekly for now but I will change it to daily dividends once more mining capacity is added.

    I will also inform everyone when Investor Insurance payments are sent to Haitch's Escrow

    Since everything on the block chain is visible I encourage our resident block chain forensics experts to watch my asset and personal addresses so see that everything is being performed as promised


  • admin

    @socal one question - do you want me to just hold your Burst in the escrow, or invest in other assets in the expectation of increasing your stake? Leaving them in Burst earns nothing, but ensures they're available - investing them gives the expectation of earning, but always has the potential of a loss occurring, and depends on buyers for the assets.



  • I'd rather hold it in liquid BURST that way it's more available and also the exact amount needed to cover Investors 50%

    Just an example say some assets were bought with the Investor Insurance funds and the price of those assets went down and my asset closed the investors would NOT get 50% back and it would make me a liar

    But we can always put it to a vote and let the share holders decide


  • admin

    @socal No problem - My intention has always been to leave it up to the asset owner/holders to decide.

    Just holding is the safest option, investing is as always speculation.



  • Just got in :D With a few shares, but I'm in lol

    If you got Burst as Escrow, I think you can invest in the team assets. All of them are safe, I think.



  • @JotaJota said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:

    Just got in :D With a few shares, but I'm in lol

    If you got Burst as Escrow, I think you can invest in the team assets. All of them are safe, I think.

    yes but as stated I'm utilizing those funds as the Investor Insurance to insure every investor is covered for 50% of their investment



  • @socal I have no problem of getting my insurance in the teams assets or Burst. Its the same for me. If something goes wrong here and I get assets, I think its even better. But you are the one who calls boss.



  • @JotaJota said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:

    @socal I have no problem of getting my insurance in the teams assets or Burst. Its the same for me. If something goes wrong here and I get assets, I think its even better. But you are the one who calls boss.

    Well for now I will leave it in Burst but like I said later on we can put it to a vote and if shareholders want their Insurance funds to go into Team assets then thats their call



  • @socal Nice. I think assets are better cause the funds will raise. With this you can improve your equipment, or send as bonus to the holders. This can be your "differential" in the mining assets run on the AE.



  • @JotaJota not only that but no other Asset out their insures their investors for 50% of their investment, which is a pretty damn big differential if you ask me lol



  • Everyone the first Investor Insurance payment of 37,830 Burst has been sent to BURST-SYKS-5FKR-FXFM-HNKFC.

    Haitch's Escrow will also be handling the Asset share sales from now on so what remained of the first 50,000 share block has been withdrawn from the AE and all 991,217 remaining shares have been forwarded to the Escrow.

    Just another security layer to assure and protect Investors.

    Investor Insurance Payment TXID: 6665461669442331660

    Share Transfers to Haitch's Escrow TXIDs: 10865358566705325065 and 10576266220066347062


  • admin

    @socal Just to confirm - 100% of the asset shares outstanding are now in the Escrow account - and under my sole control. There is a second account, I call it the Archive account, where the escrowed funds are held. As the asset sells, I'll send 50% of the funds to Socal, 50% to the archive account.

    The asset release schedule will be controlled by Socal - but I'm the only one that can put them on the market.

    All asset purchase funds go to the escrow account, I release 50% to Socal, and transfer the other 50% to the Archive account - ensuring that there is the 50% insurance escrow. None of the purchase cost goes directly to Socal - only me.

    Thank you Socal for going through these steps - this should be an asset people can have a lot of faith in.



  • Just to inform everyone I have sent 40,000 Burst (proceeds from shares already sold + some personal funds) from the Asset account to my personal account from now on the only burst that will go in or out of the Asset account will be from mining and dividends. I left 2,425 personally bought Burst in the Asset account to cover TX fees and to jumpstart dividends.


  • admin

    @socal I've emptied my 95TB miners account. It's going to continue mining on a pool, but all funds from it will be sent to the asset account until I feel you're established.



  • @socal said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:

    @gpedro ah OK I see what you are asking now, it will be a Bonus since the 95TB belong to Haitch and not the asset. So this 95TB is meant to help the asset launch and give something to the early investors.

    When you buy shares you are buying Asset owned mining capacity, as of right now that would be 3TB, but as stated Haitch's 95TB will be backing the asset as well until such a time that Haitch feels the asset is viable enough to stand on its own. But for however long the 95TB is used for the asset you will get that rate of pay so as you stated if you buy 100,000 shares (10%) you will get dividends equivalent to mining with 9.8 TB (Haitch's 95TB + Asset owned 3TB = 98TB) and that amount will go up as more HDDs are added so after the first expansion it'll be 10.8TB then 11.8TB etc etc

    That being said here's the tl;dr version:

    Haitch's 95 TB are a Bonus and are not Asset owned HDDs

    Did this answer your question a little better?

    Yes that answer my question... I like how this is being managed?!

    And regarding what @haitch said about reinvesting the amount in escrow i think that if you invest just 1/5 of the amount in escrow in assets and use the remaining 4/5 of the funds to buy insurance assets the totality of the funds will be secured if any asset fail or turn into a scam... The only way the funds will be undervaluated is if the value of an esset goes down and still don't turn into a scam or fail...
    Also this way it adds a bit risk (not much) to the investors but at the same time it will allow for the amount secured can raise and after some months can reach 100% of the investment or even more making this asset one of the most secured out there?!


  • admin

    @gpedro The option of using some of the escrow as asset investment and the rest as liquid makes a lot of sense. It would give asset holders, for example, a 40% guaranteed return in the case of asset failure, plus whatever the assets have earned and can be redeemed for. In the case of a successful asset the asset owner can either distribute the earnings over base as a bonus, or invest it in additional resources to expand the asset.



  • @haitch @gpedro

    These are valid and good suggestions but as stated for now I will keep it at 50% held in Burst for insurance, utilizing the funds for equipment upgrades has been suggested before and is the most appealing option to me because it will allow a doubling of maximum mining capacity BUT as I have kept stating I will eventually put it to a shareholder vote to decide what to do with the Insurance funds


Log in to reply
 

Looks like your connection to Burst - Efficient HDD Mining was lost, please wait while we try to reconnect.