[ANN] The N.E.W.S. Asset launch

haitch

@CryptoBuc I get that, but risk/reward is not so high in Burst Assets. Ripping off the public for a few Billion as a corporate CEO, compared to ripping off small investors for a $10's of K. The huge scammers can afford the lawyers, the small ones don't have that ability and stand exposed.

CryptoBuc

@haitch True. It sucks that good people and their money are/were taken advantaged of. I'll look and see this as a learning experience for moving forward and will just be a bit more hesitant on my choice of buying into "new" assets.

haitch

@CryptoBuc That's why I proposed only allowing ID verified members to advertise here. That idea was shot down by the community.

potkas

@haitch i would have an idea as well. But again it would take time for someone from the mod squad. Probably we could create extra trust in some assets if the asset issuer would hold the asset shares they bought to back their asset on a wallet controled by someone from the mods. The mod could then just send him the dividends once daily or weakly . If he wanted to buy new shares in another assets he would send them ower to the mod controlled wallet. As well if he wanted to sell shares held by the asset he would contact the mod/s and they would sell it for him or send him the specified ones. (we could make up rules for this) I believe it could be done and the asset issuer would actually pay the mod some burst for doing this. Or give him some free shares. Still i would not force this on asset issuers, just using it as another optional way to build more trust to the assets. And yes i know that the assets would cower only a small part of the lost burst if it turned out to be a scam. But atleast something would be left ower. And in the case there would be a scam. The shares and shareholders could be taken ower by other asset(we would create an auction betven other asset issuer who would like to take the leftower shares in to their asset. And they would give burst or shares to the not so lucky shareholders) or just someone could start control the rest of the asset. I believe it would create some trust. Of course someone from the mods or more of them, would have a lot of extra jobb but he/they wouldnt do this for free . As i said it could be agreed between the asset issuer and him (or them) what payment they would get for it! Just an idea.

haitch

@potkas That's pretty much the escrow system I offer asset issuers. I setup an account for them where they send a percentage of the share sale income for a minimum of 1 year. Socal is sending 50% of all asset sales into the escrow - if he disappears or the asset fails, the escrow fund gets paid back to investors.

potkas

@haitch So it is great if its like that :) . I havent noticed that one. atleast i did not know its works like that. But thanks for explaining it to me . Im thinking of starting a small but prety stable asset as well .I have some ideas how it suposed to work . But i have some issues which are stopping me from doing so at the moment. I plan to contact you ower this in the future if i will decide to push it forward. And i will explain that to you. But the escrow is just great stuff. Its something what i was looking for! part of the issues would be already solwed :) .

haitch

@potkas Just to elaborate on how I'm doing it with Socal. I setup two accounts, the primary Escrow, and the fund holding escrow. Socal issued his asset, then sent all the shares to the primary account. That account puts the shares up for sale, and receives the income from selling the shares - so Socal can't cheat the escrow. At the end of each selling block, 50% of the funds go to Socal, 50% go to the long term holding account, and then the accounts puts more shares up for sale.

So basically Socal has given up 100% of control of the asset and it's funds, and only when the asset meets sales goals does he get 50% of the funds. Impossible to cheat on. At the end of the escrow period, if all payout commitments have been met, then the remaining funds and shares are released back to him.

potkas

@haitch could we make a chat at the chatbox ? would you have 10 minutes for it ?

haitch

@potkas I'm around, if you want a chat just start it

Gadrah_

Hey just wanted to say I received a decent payout from NEWS yesterday (1030 burst for almost 13000 shares of NEWS). If this is a scam, why does he keep sending dividends ? If it's not a scam, why doesn't he come here and explain himself ? This is very confusing to say the least.

JotaJota

@Gadrah_ I can't understand anything. I have much more shares and didnt receive half of this. Anyway, I'm already screwed. Just praying for God's justice right now.

RichBC

@Gadrah_ @JotaJota Proportionately I received exactly the same, which is what I would expect for a dividend payment. But do I understand what is going on here? No.....

Rich

nox

@nox said in [ANN] The N.E.W.S. Asset launch:

Hi @jervis, thank you for creating this asset. It's great to see this platform be used on a professional level. Thank you for that. Today I purchased 100k of your asset. I have a few questions:

How does the asset produce 1.81% dividend per week? What is the profit that produces ~160k gross dividend? To combine both questions to one: is the dividend payment supported by the continued sale of issued assets, or is it profit based? If the former, is that sustainable?

My second question is, as you are not a part of the Burst Team, there is additional risk for investors. What measures if any have you & the Burst Team taken to
insure this asset?

Thank you

@jervis said in [ANN] The N.E.W.S. Asset launch:

@nox

Hi Nox.

To answer your question, we currently have multiple streams of income, I'd point you to our documentation page here https://news-asset.com/the-n-e-w-s-asset-documentation/ but I can quickly outline here (roughly) what the profits are, I can't give exact figures down to the last burst as everything is dynamic and I can't go through files right now.

Quick rundown.

We have burst coming in from our different asset holdings, again, the list is up there and we've put in a bit of burst on the different assets on the forum.

We're currently mining at a speed of around 600 sols/s for ZCASH, which is roughly 0.12 ZEC per day, or roughly 20k burst per day. Again, the rig is somewhere up the thread, sorry I can't find the specific post but it's there somewhere.

As for trading, the crypto markets are kind of on a downward trend nowadays and there hasn't been any major movements since the Zcash announcement, but we're making a small amount on trades here and there.

Burst Mining, we have 2-3k burst coming in from mining per day, but that's going to change soon as we have 64TB worth of drives coming in the next week or so.

As for sustainability, the profits arent guaranteed, we're not going to give out any dividend if we have a losing week and we don't use any asset purchases to payout. In fact, we're going to stop asset purchases as soon as we hit our milestone with the pool and re-assess the value of the current assets then, but at that time, dividends will continue to come from the asset holdings, zec/eth mining, trading on polo and burst mining.

N.E.W.S. is just a side gig for the team, something to do for free beer and the crypto advocacy. No amount of verifications online will ever lead true "insurance" ie: dedicated scammers will fabricate whatever identification they need to fabricate to gain trust. But then, that's what crypto is about, trust, or the lack thereof. I'd point you to <haitch> he has an insurance asset going on, you could put in a hedge there if you want your burst in N.E.W.S. insured 🙂

For us, it doesn't make sense to set aside a huge portion of the asset as insurance. Instead we are putting the burst to work by buying hardware and running them and sending out the profits as they come in.

In the end, it's a business, you guys trust us with your burst, we generate income for you, we take our cut as maintenance fees. win-win situation for all.

Happy Bursting!

NEWS Asset Team

Can't say I didn't see this coming. What's worse is that I didn't sell my shares!

Intbrk

I can't understand how anyone can still hope that it's not a scam and Jervis can explain all this.

Jervis is gone. Assets are gone. BURSTs are gone. You can't see jervis's burst miner on the pool anymore. Trading account "was held up" and gpu miner is no longer active as he said.

The only thing that gives people hope is dividends ~1$ per day, but he got more than 10000$ from assetholders. And if you are still asking: "Why is he paying this 1$?" the answer is simple. He is still trying to take more from this community and it works. There are still some people who buys this piece of shit.

Just look at his burst acc. ( BURST-RXNN-UAZZ-9Q7Z-3BE5N). There are no NEWS assets anymore. He transfered them here (BURST-7Y3J-KUXZ-B9G2-9RLHG) and from this one more than 100'000 shares to numerous other accounts on of which is BURST-BX7E-VURH-R5UB-CJB2D. He have sent here 13000+ asssets (I have bought similar amount with more than 1 million burst) and placed them on AE for 18 burst and got some sales already. And he is still trying to sell the rest of assets.

Can non-scammer asset issuer do everything written above without any words in a few weeks? Maybe I missed something but I don't think so. I hate this guy now.

socalguy

@Intbrk said in [ANN] The N.E.W.S. Asset launch:

Can non-scammer asset issuer do everything written above without any words in a few weeks?

I could show you things that would make you rage quit. But you are welcome to your opinions, beliefs, and understandings. I can't change that and have no energy to do so.

Zeus

Seems I sold all the shares I had from this asset on time :/

hah

@Zeus Lucky you I was considering to sell at the 100 price too but the asset seems pretty good at that time... anyway here is my update.

Seriously people STOP buying NEWS asset it's a fucking scam you guys should dump or get the fuck out of that thing as soon as you see this post. Wanna know why it's a scam? Check these addresses for yourself, I did the research for you so don't cry later if you keep on buying and not sell. I know your pain of having 1/16 worth in NEWS value but if you sell you get some money back now. I bought 2019 NEWS asset at 100 each it pains me to sell it for 5 each but seriously Jervis is a piece of shit.

Address: BURST-RXNN-UAZZ-9Q7Z-3BE5N
THIS IS THE MAIN ASSET ISSUER IT DOESN'T HAVE NEWS ASSET ANYMORE IT TRANSFERRED ALL NEWS ASSET TO BURST-7Y3J-KUXZ-B9G2-9RLHG name "Hurt Locker" which was created on 1/17/2017

He transferred NEWS ASSET TO THESE NEWLY MADE ACCOUNTS THAT WERE ALL CREATED ON 1/17/2017
BURST-M2ZG-7DCM-YBSD-E9AEW Babyknight 14223 NEWS ASSET
BURST-BX7E-VURH-R5UB-CJB2D PielieDie 12953 NEWS ASSET
BURST-E9W6-C8CC-LS7D-6KXTC Raven
BURST-WHTR-34HB-NC6V-FP3F5 Raven 23510 NEWS ASSET
BURST-UDGZ-XVWD-5GWA-4FZ75 xtcn 34000 NEWS ASSET

Do these asset names ring any bells? Look at the asset page right now these accounts are selling NEWS ASSET and transferring all the funds to Poloniex.

Here are some of the logs I kept.
Example 1: 2/9/2017
BURST-RXNN-UAZZ-9Q7Z-3BE5N main NEWS asset issuer selling NEWS asset for 10 burst each to BURST-QJPB-7464-5E5B-5NFHJ, he sold 34830 assets for 10 Burstcoin each resulting 348300 Burstcoins in funds and sent it to Poloniex. Then he paid dividends to cover the track.

Example 2: 2/7/2017 and 2/9/2017
BURST-BX7E-VURH-R5UB-CJB2D PielieDie transferring 34000 + 23000 Burstcoins from selling NEWS asset to Poloniex.

Example 3: HAPPENING RIGHT NOW
BURST-WHTR-34HB-NC6V-FP3F5 Raven
BURST-UDGZ-XVWD-5GWA-4FZ75 xctn
BOTH NEW ACCOUNTS MENTIONED BEFORE TRYING TO SELL NEWS ASSET FOR BURSTCOIN NO OTHER ASSETS EXCEPT FOR NEWS.

nameless

There MIGHT be a way out/solution , but i will need the cooperation of the community and my investors. I just have to figure out some things first and do a little bit of math.

Give me 24 hours folks. I'll come back with a yay or ney .

JotaJota

@nameless every option is interesting since the asset is dead...

rds

@hah said in [ANN] The N.E.W.S. Asset launch:

@Zeus Lucky you I was considering to sell at the 100 price too but the asset seems pretty good at that time... anyway here is my update.

Seriously people STOP buying NEWS asset it's a fucking scam you guys should dump or get the fuck out of that thing as soon as you see this post. Wanna know why it's a scam? Check these addresses for yourself, I did the research for you so don't cry later if you keep on buying and not sell. I know your pain of having 1/16 worth in NEWS value but if you sell you get some money back now. I bought 2019 NEWS asset at 100 each it pains me to sell it for 5 each but seriously Jervis is a piece of shit.

Address: BURST-RXNN-UAZZ-9Q7Z-3BE5N
THIS IS THE MAIN ASSET ISSUER IT DOESN'T HAVE NEWS ASSET ANYMORE IT TRANSFERRED ALL NEWS ASSET TO BURST-7Y3J-KUXZ-B9G2-9RLHG name "Hurt Locker" which was created on 1/17/2017

He transferred NEWS ASSET TO THESE NEWLY MADE ACCOUNTS THAT WERE ALL CREATED ON 1/17/2017
BURST-M2ZG-7DCM-YBSD-E9AEW Babyknight 14223 NEWS ASSET
BURST-BX7E-VURH-R5UB-CJB2D PielieDie 12953 NEWS ASSET
BURST-E9W6-C8CC-LS7D-6KXTC Raven
BURST-WHTR-34HB-NC6V-FP3F5 Raven 23510 NEWS ASSET
BURST-UDGZ-XVWD-5GWA-4FZ75 xtcn 34000 NEWS ASSET

Do these asset names ring any bells? Look at the asset page right now these accounts are selling NEWS ASSET and transferring all the funds to Poloniex.

Here are some of the logs I kept.
Example 1: 2/9/2017
BURST-RXNN-UAZZ-9Q7Z-3BE5N main NEWS asset issuer selling NEWS asset for 10 burst each to BURST-QJPB-7464-5E5B-5NFHJ, he sold 34830 assets for 10 Burstcoin each resulting 348300 Burstcoins in funds and sent it to Poloniex. Then he paid dividends to cover the track.

Example 2: 2/7/2017 and 2/9/2017
BURST-BX7E-VURH-R5UB-CJB2D PielieDie transferring 34000 + 23000 Burstcoins from selling NEWS asset to Poloniex.

Example 3: HAPPENING RIGHT NOW
BURST-WHTR-34HB-NC6V-FP3F5 Raven
BURST-UDGZ-XVWD-5GWA-4FZ75 xctn
BOTH NEW ACCOUNTS MENTIONED BEFORE TRYING TO SELL NEWS ASSET FOR BURSTCOIN NO OTHER ASSETS EXCEPT FOR NEWS.

You say to dump the assets. To who should they dump them to?