Change to the requirement to post new threads in the Asset Exchange Category.


  • admin

    The Burst Asset Exchange (AE) is, like Burst itself, totally decentralized - anyone can create any asset.

    These forums however are not decentralized, the equipment they run on is owned by me, the monthly hosting fees are paid by me, and what happens here reflects back on me and my reputation.

    Therefore, I'm introducing a change for those wishing to advertise their assets here. The community has been scammed a number of times by people who created "assets", collected the Burst, then disappeared with the Burst, with no recourse for their "investors". That stops now. All asset owners that wish to promote their assets here will be REQUIRED to ID Verified.

    I'll grandfather in those assets created prior to 1/1/2017, but would strongly encourage those asset owners who aren't verified to get verified. More and more people are refusing to purchase assets from non-verified owners. If you want to increase the trust in your asset, get verified.

    For assets that started being promoted here after 1/1/2017, you have a week to start the verification process, or I'll take down your thread.

    Additionally, I'm going to recommend that asset owners join the escrow program, and put a percentage of their asset sales into escrow to protect their investors. I'm not going to require escrow, just recommend it for now. Assets that have both ID Verification and Escrow will have the highest level of trust in the community.



  • @haitch where can we dm?



  • @haitch personally this is the worst way you could of gone. Optional verification ok, mandatory? Hell no.


  • admin

    @LithStud I disagree, if you want to promote an asset on my forums, I want to verifiably know who you are. These assets are raising $10,000's of Burst - required ID Verification to promote an asset here should stamp out scam assets.

    As I said in my post, anyone can create an asset, advertise it anywhere they want - but if they want to promote it here, this is my requirement.



  • @haitch ok, answer me this then, where is official BURST forum? just that as this seems to be your personal forum and in that case i will use only official one.


  • admin

    @LithStud As far as I know there is no "official" Burst forum - Burst is decentralized, there's no-one to deem any forums the "official" forums. Here, the forums I run, are the un-official Burst Forums.

    If you want to advertise a product in a newspaper, on TV, radio, in a newspaper or on-line, you need to provide personally identifiable information - why should these forums be different? If anyone doesn't want to provide the information I want to advertise here, then they can advertise elsewhere.

    More and more people are refusing to buy un-verified assets, I've decided to go with that trend and only allow the promotion of verified assets.



  • @haitch ok understood, so no more assets from me, and to that same extent no more modifications as well, as i am not gonna go against my principles just to please someone.

    I couldnt care less if asset has verification or not as i understand my risks i take in crypto world.


  • admin

    @LithStud That's your pejorative, and I hope you'll reconsider.

    In the US online services can be sued/prosecuted for the content they advertise. There is an online site here that is currently being prosecuted by the federal government for promoting prostitution due to the ads they ran. I'm not willing to be the one left holding the bag if someone decides to sue over a scam asset. Publishing in good faith from an anonymous source is not a legal defense, Publishing in good faith from an identifiable individual is.

    So my options as I see them are: allow NO asset promotion, or allow asset promotion from verifiable individuals. Yes, part of it is me wanting to protect the users here from scams, but it's mostly to legally cover my butt.



  • @haitch well i understand your point even if i dont understand US laws. And since i will adhere to those rules i wont advertaise what i do. There is nothing to consider as there cant be any exclusions from the rules. Either there is freedom or there is rules, cant have both.



  • @haitch

    I like the concept and this is what I wanted to bring into the Asset and Crowd Fund websites.
    Of course ones can create their own and post them where they like but for sites that are created
    to bring BURST to the next level of mass adoption some standards or guidelines or rules
    are usually very welcoming to those who are serious about creating and investing in
    honorable assets.

    Perhaps a notice in the BURST OP page with links to all created avenues to advertise these assets and crowd funds could be considered.


  • admin

    @LithStud How about a compromise then? I'm willing to listen, and adapt to, feedback on any of my plans. I split the Asset Exchange category into "ID Verified Assets", and "Unverified ID Assets - invest at your own risk" ? Disclaimers on each explaining that ALL assets are a risk, but assets where the owner has chosen to go through ID verification, there is a verifiable person they can deal with vs an anonymous asset issuer? People can then decide their trust level in the asset, and no one is forced to disclose their real ID to me. Would that be acceptable ?



  • @haitch I agree totally and am more than happy to do this , and yes it is a individual decision and we have to respect everyones own decision



  • @haitch said in Change to the requirement to post new threads in the Asset Exchange Category.:

    split the Asset Exchange category into "ID Verified Assets", and "Unverified ID Assets

    "split the Asset Exchange category into "ID Verified Assets", and "Unverified ID Assets"
    This could work well for this forum.



  • @haitch said in Change to the requirement to post new threads in the Asset Exchange Category.:

    @LithStud How about a compromise then? I'm willing to listen, and adapt to, feedback on any of my plans. I split the Asset Exchange category into "ID Verified Assets", and "Unverified ID Assets - invest at your own risk" ? Disclaimers on each explaining that ALL assets are a risk, but assets where the owner has chosen to go through ID verification, there is a verifiable person they can deal with vs an anonymous asset issuer? People can then decide their trust level in the asset, and no one is forced to disclose their real ID to me. Would that be acceptable ?

    Awesome Idea!!



  • @haitch it probably works. But also i am probably minority in this, so it doesnt matter what i want or think works.


  • admin

    @LithStud Okay, I'll ask the community to weigh in what they want to see - only verified assets, or a split of verified vs unverified assets? This is a community site, so I'll go with the community opinion.



  • @haitch id love to see split ... make researching assets to invest in a little easy'er . thou i can see the legal point in not allowing unvarified.


  • admin

    @Gibsalot I'm willing to do either. I went with the verified only on the assumption that that was what the community would want - but if I'm wrong, I'll do it the way the community wants.



  • Split since it gives a clear choice and allows all to be involved.
    If it were a single custom website that is just for assets I would say only verified.
    Could a terms of service or something be in the unverified section that is well worded that protects you.


  • admin

    @MikeMike If the community wants the split option, I'll put up a pinned disclaimer that people invest in these assets at their own risk, I have no responsibility, and no recourse for helping them in the event of a scam. On the verified side, same at own risk disclaimer, but instead will promise to give the real life details of the asset owner in the case of what I consider a valid dispute.


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