BSILVER - by crowetic - silver backed BURST asset!

[Zeus]

@IceBurst I like to read your comments, they make sense and are well written :) Good day.

[Bitnet88]

@crowetic I like the asset idea of investing in Silver. But I think it would be more helpful of describing the asset investment in terms of percentage allocations. % allocated to actual silver, mining power and trading plus sales power. This way at least one can make a more informed decision of how much to invest and speculate on the actual gains.

[crowetic]

The document I posted has all of the details, and I would like to point out...

The asset / silver trade ratio will be in constant flux, we will have to come to an agreement during the time someone wants to cash out, and make a fair deal at that point based on the price of the asset, BURST, and BTC. We will make sure the deal works for all parites.

Also, The asset will have mining power of all types mining for it. Basically you can think of it as an asset that is like holding silver that also pays you dividends. Yes, we realize that the initial trade in price (though it isn't necessarily 'real' because you can't trade in for 3 months anyway, and things are certain to have changed by then) is a bit higher than the market rates of silver, however, with the mining power going to the asset, and the payouts to the holders, eventually, the prices on the silver will be able to be lower.

We will likely hold the price of silver anywhere from 10-25% lower than market rates when we get to our goal.

We're still in the process of setting up a page on http://burstcoin.online that will keep up to date numbers on how much mining power, what types of mining power, and how much silver the asset has in its possession, as well as what TYPES of silver, because we have a bunch of different types, some of which have value over the value of the silver alone.

So yea, the number of assets to silver ratio will be in constant flux, and will be updated regularly once we hit the 3 month mark (the time that the silver can start being redeemed if the asset holder chooses to do so.)

We think that it is a great option to purchase silver, that pays you dividends, and also helps keep the price of BURST up.

Any other questions feel free to ask, I just wanted to point out the fact that when the trade-in is requested, we will have a talk with the asset holder wishing to trade in, and we will come to a deal that is fair for all parties.

Thanks!

[crowetic]

@ddos said in NEW ASSET BY CROWETIC, kitsune, and mm of BURST and BURSTKORE extended teams! BSILVER - silver backed BURST asset!:

@IceBurst unless everyone else realizes this and demands half the price for the asset because burst would be worth more.

The asset to silver trade in ratio will be constantly changing since silver is tied to USD. This will also force us to maintain a growing silver reserve, and continue adding mining power to the asset with which to purchase more silver, and also pay out the asset holders.

[crowetic]

also, just in case no one else noticed the ratio...

it's split 50-50 on everything, 50% to buying more silver and 50% to the asset payouts. The asset hosting fees I will cover from my own payout from the 10% that I hold of the asset, so the asset holders will not have to worry about hosting costs.

I do have the ability on the sales, and trading, to pay as little as 10% to the asset holders and 90% to the silver reserves, but I will generally try to keep it 50-50 on everything as to not confuse matters.

[crowetic]

As of right now, the mining power I have that will be going to the asset initially is...

2 - AMD 380 cards

1 - AMD 470 card

1 - 7950 AMD card

1 - 280x AMD card

5 - 750ti NVidia cards

1 - 970 NVidia card

1 - S7 antminer SHA-256

1 - 6th gen i7 CPU 8 threads

10+TB initially more coming of HDD power

(ordered but not arrived yet) 8 24 physical core XEON servers (only 4 of them will be mining most likely, haven't decided fully yet)

(not sure if I will be using this or not, but 1 - 8core 4th gen i7 and 270x GPU

2 - 12 core i7 rigs one 5th gen one 3rd gen extreme edition CPU

MUCH MORE COMING SOON we are only just beginning to acquire more mining hardware :)

All of the above are subject to change, the finalized mining power going towards the asset will be listed on http://burstcoin.online when the site is up, I will be posting about it when that happens.

The list of mining, and silver reserves, with pictures, will be posted on http://burstcoin.online shortly, I've been really busy with a lot of things so I haven't had time to get the site up, but it will be done shortly. Thanks!

[crowetic]

Update -

http://burstcoin.online

Now has pictures of some of the silver backing the asset, and a list of the actual current mining power, which is still being modified.

A LOT MORE has been purchased for the asset, so much more, that I'm having to bring more power into my location to power the mining.

[crowetic]

5 AMD 370 GPUs just arrived, I also got 8 new rack servers, of which a few of them will likely be built out to miners to power the asset.

[Zeus]

@crowetic you're on fire!! I'm so happy to be part of this asset

[Propagandalf]

Nice silver pictures! :-D Could I have one with my face on it too?

[BurgerBaron]

@Propagandalf said in NEW ASSET BY CROWETIC, kitsune, and mm of BURST and BURSTKORE extended teams! BSILVER - silver backed BURST asset!:

Nice silver pictures! :-D Could I have one with my face on it too?

@propagandalf are you trying to crown yourself emperor of burst?

[Propagandalf]

@BurgerBaron "Emperor of Burst", that sounds quite neat. I could settle for King, though, just sayin'.

[jervis]

I really like to buy some assets but I just dont know how to start with. Can someone private message me how? Thanks.

[jervis]

hi Crowetic... I don't know if I have done this right but mine has been pending for hours already. thanks

[Zeus]

@jervis If you click in the list of assets, the asset name, does the pending disappears?

[Propagandalf]

@jervis Go to the dashboard of your wallet, and check the timestamp of the latest block on the right hand side (recent blocks). Is it somewhat up-to-date? If not, you may have a stuck blockchain. If so, download a new copy of the db and replace it with the one you have. If you need help with this, just call out.

[digidan]

Is there any estimate for ROI calculations?

[haitch]

@digidan there's an earnings calculator at http://burstcoin.biz/calculator, but any ROI calculation would rely on future value of Burst, which is un-knowable.

[Propagandalf]

I think he meant ROI on investing in this asset.

[crowetic]

@Propagandalf

Once the first asset payout happens (which I'm going to say will be October 1st, or the first week in October) I will be able to calculate the ROI and APR.

I will be putting these calculations on http://burstcoin.online as well.

I'm thinking of setting up multiple 'stat pages' for our assets that will contain all of the ROI and APR information as it sits.