Kohai’s Gold Bar
Hi Folks, I’ve been around the forums for some time, I’m a bit of a crypto lover. I’ve been mining for a while, from BTC, to ETH, to ETC and now ZEC. I’m just mining whichever coins give out the biggest profit, until of course I came across BURST. I love the coin, I love how efficient BURST mining is, I love the community and I love the assets.
Now, since I’m already invested in mining rigs which aren’t really “green” and efficient, I currently have two rigs with a total of SIX RX480 cards. I’ve decided to put up an asset that’s not really unique, since I borrowed the idea from a couple of places I’ve seen over the years.
It’s basically a gold-backed asset. Don’t click back yet, hear me out.
I’m valuing my current mining setup at 3.4BTC or Approximately 4.7 million burst.
It produces 1.1 KSol per second when mining Zec (1100 H/s)
You can check it out at the following address.
http://zcash.flypool.org/miners/t1fyk7esxo3sMpQRu5yW5SUXSvwRwJBB9yJ
Now, the way the asset works is simple. I’ll take all of the burst invested, and will purchase 2pcs 1oz bars of gold from APMEX, at the current price in assay, it’s $1270 per bar. That takes care of the gold-backed section of the asset.
Why gold? Well, gold is currently at a 6-month low (as well as 5-year low) and it’s a nice time to purchase gold with all the instability with politics nowadays, gold is always considered a safe haven.
“If you put all the money in gold, where’s the income then?”
Well, remember, I still have the rig, which will continue to produce ZEC, which will in turn be used as dividends.
So here’s what the numbers will look like.
Payouts for the mining component will be held every time we hit a total of 1 ZEC, which takes about 8 or 9 days, depending on luck.
Here’s the breakdown.
30% - Dividend Payouts (Zec will be converted into Burst for payouts)
30% - Gold Fund (Zec will be converted to Burst and then stored)
Addendum to the Gold fund, thanks @nameless for the suggestion.
The 30% Gold fund will be divided into the following. 5% For incidentals (Wires melting, cards going poof, and so on) 3% goes to Crow's development fund and the rest, 22% goes into the actual Gold Fund. Upon liquidation, anything left in the "incidentals" fund will be included in the gold fund. So if nothing goes wrong, the actual gold fund is 27%
40% - Maintenance and Electricity (Yes, it looks high, but trust me, mining Zec takes a lot of power) ask anyone who uses GPUs to mine coins, it’s pretty high.
Now let me explain the gold fund. The gold fund is basically “added” value to the gold bars that we’ve purchased, this will be stored in a separate BURST account that anyone can check.
The gold bars will (hopefully) rise in value over time + the value of the gold fund. Once it reaches 150% of the original value, or 7.1 million burst. I’ll open the asset up for liquidation voting. If 51% of the asset holders vote to liquidate, I’ll sell the gold bars on the market, convert it to burst, and buy back all of the assets at 150% of the original price. OR if members vote to “let it ride” then we’ll continue to pay on dividends and adding on to the gold fund until members vote to liquidate.
What’s in it for me? 10% of the final liquidation price.
Some may ask, why not create a burst mining operation? Well, there are a number of great mining operations already and I can’t hope to compete with them, not to mention that another mega mining operation will just make the difficulties harder for the rest of the smaller miners. When mining zec (or whatever coin will be profitable in the future) at least when I go dump the zec and buy Burst, I’m taking the burst away from those who want to dump it and give it back to the Burst community, to those who want to hold on to their Burst.
Whew, that was a mouthful.
P.S. I’m in the process of being Verified by @haitch .Mmail is taking its sweet time, but it should be here soon.
P.P.S. This is an all-or-nothing asset. If I can’t sell out the entire asset, I’ll refund everyone. I can’t start giving dividends partially while the gold hasn’t been purchased yet for proper valuation.
Comments? Suggestions? Tweaks? Violent Reactions? Questions? This is just a feeler still, but the idea is there and I believe it’s solid.

