<PREANN> Gib's mining farm



  • @IceBurst yea, gibs has been here for a long while, everytime I think of a long while, I think of Jervis and how much I loss from him, but I doubt gibs will pull that crap

    edit: I would personally go with @IceBurst suggestion sounds more reasonable than mine.



  • placeholder for asset thread created.
    asset wallet and perpetual growth wallet created
    asset created
    Escrow holder found
    some Burst mining /pool backed assets i had sent to asset wallet for start of additional revenue generation
    Plotting has started
    current debates for structure of the Escrow are ongoing
    i will give it some time befor releasing asset ID and placing shares up for sale to see if any debate happends on non escrow issue's

    current asset backings standing

    21TB being plotted

    bursity X1

    CCM100 X100

    CCminer100 X100

    Lex4all X100

    Newminer X1000

    SatoshiMT X1

    Socalsfarm X500

    V2pool X100


  • admin

    @IceBurst I like the rolling escrow idea, but would make two tweaks to it. Most of the escrows I've been managing haven't been based on calendar, but on tranches of shares. eg You create an asset with one million shares, but sell them in batches of 50K. After each tranche sells out, that's when the funds go to the asset owner and long term Escrow account. It could be modified to do it calendar based though.

    Also, rather than create the overhead of the Escrow manager having to track the amount escrowed each month, from month 4 onwards 1/3 of the Escrow gets released back to the asset owner prior to the current months sales being added to the escrow account.

    Thoughts ?



  • I want to see a asset where the escrow is held in buy back orders on the exchange.

    1. this will prevent the asset from ever dropping to 0.
    2. investors are not held hostage and can get their 50% insurance whenever they'd like.
    3. This eliminates having to trust someone to hold the escrow.

    I have been doing a lot of thinking last days..... Say the asset issuer is trying to raise 500k coins from issued assets.......Here my crazy idea sell 500k shares at 10each but place a buy back order of 9 coins each for every single share as the escrow. The most any original investor can lose is one coin per share. Its a win for the issuer trying to get 500k coins and for the investors who don't want their shares to lose value......jus some thoughts from my crazy mind.



  • @Dillion Like the idea of the escrow being in Buy back Orders held by a third party, perhaps at multiple prices, and perhaps the price needs to be adjusted over time according to some formula?

    The idea needs however to be analysed carefully first to ensure that it does not have some failing under certain circumstances, or could be abused in some way?

    Rich



  • @RichBC me too i think its the best way to go. Wish I would've done my small asset this way however these thoughts have only come to me after watching all the other assets flirt with 0 liquidity. We see the effect on the AE with Burst going from the 150sats range to 500. So what happens to the AE if it runs from 500 to 2k? buy back escrow should be easy, convenient and successful. If I buy 5k share of Gibaslot with 500sat burst and burst runs to 2ksats I want to be able to get out even if at a loss on amount of coin. With someone just sitting on the escrow coins no one can get out. sorry to ramble on so much this something I have become pretty passionate about..



  • @RichBC i would be ok with that , maby delagate a % of the escrow to set a low buy order in the AE so people can cash out if they choose if all 50% was dedicated to this there would be much less growth of the asset after it sells out. and shares sold into that account can be (burnned) not included in Div payout's as well ......... my only concern would be how much Haitch would have to manage on his end as the escrow holder. i dont want being the escrow holder to turn into a full time job managing it.



  • @Gibsalot
    If you do a escrow in buy backs no one needs to hold it. Now nothing is stopping you from canceling those buy orders so that is where trust comes in. We have to trust that you'll never cancel the orders. It's a fine line but I'm glad you see where Im going with this.



  • @Dillion this is where i would still use Haitch as escrow holder ... as he would place the buy back orders with the escrow fund's so i cant just cancel or change the buy back price



  • @Gibsalot right......also it shouldn't create a lot of extra work....as investors decide to get out and sell into the buy backs all you got to do is exclude the wallet address holding the buy backs from receiving dividends.



  • my proposal would be this 50% of share sale funds sent to escrow, held for 3 month's each month after the 3 month hold 50% of the held escrow fund's be used as buy back orders in the AE shares bought by that account will be (burned) , the remaining 50% be sent to the growth wallet to further grow the asset



  • I hope im not trashing your thread with all my crazy ideas but check this out.

    Shares that are bought back do not necessarily have to be burned.

    Instead of holding coins hostage for future upgrades you could just reissue shares that were bought back. Do not like investors escrow coins being held in the name of future upgrades.
    I feel if the asset isn't making enough on its own to set a little bit of earnings back for future funding then something not right..
    Sorry again to ramble good luck gibs I'm sure you'll do great



  • @Dillion no thats what i want input from the community so i know that when i launch it will be what the community perfer's the only thing i will not budge on is that it is a Burst Mining asset that will have both it's own mining power as well as hold assets that generate revenue from Burst mining or Burst pool fee's.... i want it to stay 100% on the Burst block chain for a stable Burst value not subject to up's and down's of the Fiat value of Burst.... in theory lol i know that people will liquidate assets even ones like this that shold hold value when burst go's throu large pumps



  • @Gibsalot do you have any spreadsheet earnings projection? by month for the next 12 months...



  • @iKnow0 no i do not sorry
    im not vary handy at making spread sheest and stuff .... i tend to keep piles of scrap notebook paper and sticky notes of daily stat's but never compile them lol



  • @Gibsalot lol I'm the same exact way. Guess we just really enjoy writing. Just about week ago dove into making spreadsheets and it is way more work than pencil and calculator.



  • @Gibsalot what is your estimated time for 100% ROI on just the first 100K meaning if I invest 1000 Burst how long will it take before I make a profit. The assets that you have invested in, have you gotten 100% ROI on the amount of burst you spent because if you have not then you have 0 (Zero) profit to give away. You have stated that you are Plotting 21TB how many TB are you currently mining with?



  • @croydan1 assuming the price per share is going to be 10 burst , and disreguard anything to do with how the escrow work's or effects the asset , also disreguard any income from assets holding as they will play a vary minor roll in my asset effectivly what is there was just me giving it somthing to start with other than the 21 TB's .... with an aprox Burst value in the mid 400's as i feel thats where we have been floating and should drop back to after this new pump. 50% to escrow 50% to add HDD's in the range of 5,000$ USD depending on transaction fee's burst price, BTC price ect ... i would expect to be mining with around 185 TB's that should mine aprox 118k burst per month. with a reduction of 5%-7% per month depending on network difficulty growth and would expect an investor who holds long term to 100% ROI in Burst around 8 to 9 months time.
    as for assets they are not the primary of this asset essentuly after i have purchased HDD's what is left over that wont buy a HDD will then be used to purchase asset's off of the AE. ... if we use the escrow as a buy back option and (burn) any assets sold into that option then the amount per share will go up and shorten that time frame as well as for income from held asset's they will shorten the time but am not willing to even look at that math lol also i have no clue how many and of what kind or there ROI expectation's



  • at this point im leaning twords a straight 50% escrow that will go direct to placing buy orders in the AE at 50% of the issue price that will be the least amount of work for haitch to manage on his end as escrow holder. and will provide an Out for any investor who wants to liquidate wile at the same time there will never be a need for anyone to plead with haitch to release the escrow in the event somthing happends to me as it will alredy be in place. aslo i will exclude any asset's that have been sold into the escrow buyback system from Div payouts witch will only increse Div's for long term holder's



  • @Gibsalot thank you for that informative answer and I really like the ROI ! Keep going I also like the buy back option it works very nicely for the numbers. BTW I am jealous at the amount of burst you are mining but I know that I will get there soon.


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