About assets - Newbie question
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Can someone please explain how assets work in Burst.
My understanding is that,
- Asset is held by a person
- People invest bursts in asset
- Based on bursts invested, more hard drive space is bought by asset holder
- Every month, the earning through the bought hard drive space is shared to the people who invested on assets
- Share is based on the amount invested in the asset
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@tpriyan You buy a stake in an asset for whatever price. The asset owner promises to pay on (schedule) an amount based on how well the asset has performed, it's not necessarily the disk space held by the asset owner. For example the BurstTeam asset ( 14092376023955917604) pays out the fees collected by the pool. The higher percentage of the shares of the asset you own, the more you get paid. But the asset is not used to expand the pool or buy drives - it just pays out to investors.
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@haitch Thank you.. That makes things more clear about assets. Its basically based on trust we have on asset issuer, similar to that we have on banks
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You basically have it right. The only thing I would say it that the asset can be based off of different entities and maybe different terms.
The Burst Team assets are mostly generated from the pool fees and added hard drive space for mining.
However BurstTaker asset is based on other staking cryptocoins so it pays out a percentage of interest earned.
Free or cheap power can be a great asset too. Many things can become an asset.
I have started a new asset https://forums.burst-team.us/topic/419/cointoss-a-new-betting-game-and-asset
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@tpriyan It's very much based on trust. Research the asset and it's owner before buying. Many of us have been scammed by assets that looked promising, then the owner vanished with the investment. Any of the Crowetic or Burst-Team assets are solid, have a history and can be trusted.
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@haitch - Thank you, I have bought a few in BURSTeam asset.
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@tpriyan a newbie too. pls how do i get to buy assets like the bursteam or crowetic assets? thanks.
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ThanksFrilledShark

