Need help setting up my asset.



  • For a while I have said that I want to help in anyway possible, and yet I have not given thought as to where to start, I was being lazy waiting for someone to just say here can you help with this. I have been apart of Burst now going on 7 months and what have I done to help what Ideas have I laid out on the table to get other people interested in growing, stream lining, or just being as creative as possible so that Burst is moving in a very positive direction, garnering people to sit up and take notice, at the same time stopping the drama that is hindering forward and upward development. ( Yes there will be people that will always try to hinder progress we have to show that we can rise above it all )

    The first thing that I would like to help with is Asset building and stream lining the process so that anyone that is really in this for the long haul and at the same time help eliminate even more scam assets because of some vital work that needs to go into building, proving, and maintaining great assets ( this statement is in noway a claim on my part that certain assets that are currently out there are bad ) In order for me to help in anyway is to learn how to build the asset and what is needed. There is someone that I truly want to thank that months back peaked my interest in assets @RichBC you ask asset issuers a lot of questions, thru these questions I have come to determine that somethings should be automatically put into the PRE-ANN so that people can read it see everything without having to guess and have to ask further questions which slows down the process of getting it out there and have people know that this asset has answered every question that could be relevant in determining to buy or not to buy.

    The following will be what I see that should be mandatory items in the PRE-ANN process and some questions to be answered I really do not know the answers to. I also would like to start slow and with something that almost everyone already owns and uses "THE MINING RIG" also Ladies and Gentleman when answering questions can we have the explanations given so that anyone with even the most basic understanding of how to at least turn a computer on kind of like trying to explain computers to your 80 year old grandparents that are still using a basic phone line in there house and no cable can understand I think we all get what I am saying.

    Current, Clear, pictures of your mining setup ( Mining Rig ) this shows proof of ownership that you personally have spent your own money to start your build ( without these you should go directly to CROWDFUNDING ).

    Show current hard drive(s) and how many Gigabytes or Terabytes that are in operation This can be done with a screen shot of your drives.

    Show proof of work. How much is your mining rig producing this should be the last 30 days before launch then once a month as long as the asset is still in operation. Doing this will show several things, a slowdown of mining this should be addressed before the 30 day mark, loss of power, the CPU died, the mother board burnt to a crisp, or mining has increased more hard drive space was plotted and added, you switched from CPU mining to GPU or the JMINER ( I have not used the GPU miner or the J miner ) Did you change pools and in doing so are you now winning blocks more often.

    Distribution of Dividends. I saw that @haitch said
    Issuers, one of the biggest issues for the Community is the number of scam assets that have been issued - these have cost members many millions of Burst. So trust is a big factor facing a new asset issuer. Long known members can issue an asset and the community will trust that member and asset. A new member with no history, but a brilliant idea for an asset will face a lot of skepticism.

    To address this problem, I've set up a two part service to give the community more confidence about the asset, and it's issuer.

    Part 1 is an Identity Verification service. Prior to publishing your asset you'll DoX yourself to me, and only me. I'll verify that you are who you claim to be, and have a verified address for you.

    Part 2 is an escrow service, where you'll deposit some of your IPO funds, so that in the event of you attempting to scam, or your idea/asset failing, a portion of your funds will be refunded to the community.
    To add my two Burst it should not matter if the person is new or has been here since 2014 I understand that reputation helps a lot but that still does not stop ANYONE from walking away with all the $$ and saying bye suckers.

    Question: once the initial escrow is setup, should there be another that a small percentage of the dividends is put into to pay for equipment replacement, upgrades?

    Question: ( try to keep the laughing to a low roar ) How much burst to I need in my personal account to start an asset I ask this because I see assets that start at 10000 burst to millions to sell?

    Question: what is the best way to determine the starting value of the the Burst to sell?

    Question: should there be three or four wallets setup. One for total amount of burst earned, Second for the percentage that was set to be paid to the asset holders. A third for the percentage set to pay yourself. A forth if a second escrow is not needed for replacement of parts, upgrades etc.

    Question: should there be a two party system be set in place one for the escrow. I see this as two highly trusted and high reputation persons that will make sure that the dissemination of those funds will be handled properly and a proof of the total amount of funds along with proof that each asset holder was paid their appropriate amount.

    Let the answers commence please do not just give a one word answer when answering it should be a good reasonable answer so everyone can understand a positive or negative response with a valid answer. Please do not argue over one persons response that will just delay positive and forward movement. if two or more parties wish to argue over a persons response please take to PM's.

    It is very possible that I may have more questions please be patient with me in the long run you are also helping others.

    Thank you,

    Croydan


  • admin

    @croydan1 Sorry for the delay in replying, been sick.

    1. You're verified.

    2. Escrow is optional - but recommended to send 24 - 50% of your income to. If you want to set it up just message me, and I'll publish the details.

    3. Escrow should be a percentage of asset sales, all asset dividends should go to investors. Percentage retained by the creator are theirs to use as they see fit.

    4. With asset escrows I setup two accounts - one to hold the asset and sell it, the other to hold the long term balance, the rest gets sent to the account you give me.

    It has occurred to me that if I happened to drop dead - I have millions of members burst locked up in my accounts. So I'm going to share the accounts file with dawallet - a user I trust totally; daWallet I hope you're okay with accepting this file - it has the passphrases to EVERY one of my accounts - my personal accounts and escrow accounts, and my willingness to do this is the trust I have in you. If any of you that I'm holding escrows for have a problem with this, let me know, otherwise I'll share in two days.



  • @croydan1 are you offering serviced to help out new assets? sorry just a hair confused by , could be the cheap whiskey



  • @haitch im ok with that



  • @falconCoin trying to help in a small way to help others understand what I see would be a great step forward in assets but the questions I have are also there to really help me understand some finer points.



  • I think that it sounds great!
    I can't wait to see who your asset will be set up.
    @croydan1 keep me posted on your up dates, I can wait to read all about it and get my hands on some of your assets.
    Keep up the great work, BURST needs people like you to keep it going in the right direction.
    This is great!



  • @haitch said in Need help setting up my asset.:

    It has occurred to me that if I happened to drop dead - I have millions of members burst locked up in my accounts. So I'm going to share the accounts file with dawallet - a user I trust totally; daWallet I hope you're okay with accepting this file - it has the passphrases to EVERY one of my accounts - my personal accounts and escrow accounts, and my willingness to do this is the trust I have in you. If any of you that I'm holding escrows for have a problem with this, let me know, otherwise I'll share in two days.

    I am sure that funds are safe with daWallet having all of your passwords, but I do want to point out that there is a more secure way to do this... There are a few 3rd party deadman switch services out there, some free or very cheap. If the file w/all passwords is encrypted before being provided to the 3rd party, the info(ie your passwords) is completely safe, and would not be sent to daWallet, or whoever else you want, until you stop responding to the polling. Given the recent chaos and losses related to shared passwords etc, this might be a more reassuring option. It just makes sure that the actual passwords are not exposed unnecessarily, meaning that daWallet never has to worry about someone accusing him if there is a hack of some kind down the road.

    I know that you know what you're doing, and I am not worried one bit about daWallet having access to... well, to a whole lot of burst that is owned by various members of the community... I'm just thinking that recent events might push all of us towards more safety and security when it comes to determining who exactly has access to which funds and why.

    Just my 2 cents


  • admin

    @whateverUsayman I understand, but trust daWallet 100%. The file has been sent to him, encrypted with a password only the two of us know.



  • @haitch I am certain that your trust is well placed, my only intention was to suggest some 'plausible deniability' for daWallet... if he never had the file, he could never be accused of abusing it... that was all.



  • @croydan1 with what you suggest ( eliminating as much as possible scams and limiting risk for investors ) assets would have catch more interest and more money would flow into them, that wold help Burst in a long run - right now its still kind of Wild West


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