[PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details



  • @socal said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike I'm still not 100%, so Ill try and keep this brief:

    • yes, this is absolutely the way assets should be launched - a pre-announcement with plans on how the asset will function, and community feedback/discussion to moderate it.

    • Socal is the FIRST and ONLY asset issuer willing to comply with both my guidelines I posted here - At the time it was congratulated as a great initiative to build trust in an asset issuer. Again, Socal is the ONLY asset isseuer willing to do both.

    • Somewhere back in the thread I advised Socal to release assets in stages, using each release to fund the next increase in capacity. He agreed to do that.

    Basically, Socal has fulfilled every requirement we desired of a new asset issuer - and is being lambasted as a leech. I'm kind of disgusted - Socal is willing to do everything we, the community, demand of him, and he's being insulted like this by some individuals.

    This is not how it's supposed to be.

    @haitch
    Man I gotta say you have been so helpful to me and many others I see it all the time. Same with Focus.
    You two are integral parts of BURST. Yes we seem to all hurt each other at times and for the most part it is because we mean well,... after you get down to it.
    I see many efforts on your part to protect the BURST Community by setting some needed standards. Others too want to setup some processes like this. We need them and I am sure they will evolve over time.
    I think we should all work together to add to what you started here and come to a consensus of what the final draft will be as it should be. A Community effort though as typical started by one active member trying to do the right thing.

    I'm willing to be flexible to make this work if there are some community members that want to invest BEFORE I can setup the rest of my privately funded portion then we can discuss an early Asset release but we can cross that bridge when/if we get to it

    Thanks for being flexible. IMO- start small and maybe scale it rather than 1,000,000 as it just looks better for a new guy starting off small. We want people from all walks of financial ability and all over the world to be able to use the Asset platform. This is bigger than all of us. I still say it is best to work out the details with Crow himself. Specially bringing into the plan early investors....

    @haitch I like the idea that new asset issuers post a pre-ANN on them if new but not sure about making it a forced rule. Seems to me if it is setup properly it could be accepted and do very well. What I mean by setup properly is there be a one click solution process that is well organized and easy to follow.



  • @MikeMike said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @socal said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike I'm still not 100%, so Ill try and keep this brief:

    • yes, this is absolutely the way assets should be launched - a pre-announcement with plans on how the asset will function, and community feedback/discussion to moderate it.

    • Socal is the FIRST and ONLY asset issuer willing to comply with both my guidelines I posted here - At the time it was congratulated as a great initiative to build trust in an asset issuer. Again, Socal is the ONLY asset isseuer willing to do both.

    • Somewhere back in the thread I advised Socal to release assets in stages, using each release to fund the next increase in capacity. He agreed to do that.

    Basically, Socal has fulfilled every requirement we desired of a new asset issuer - and is being lambasted as a leech. I'm kind of disgusted - Socal is willing to do everything we, the community, demand of him, and he's being insulted like this by some individuals.

    This is not how it's supposed to be.

    @haitch
    Man I gotta say you have been so helpful to me and many others I see it all the time. Same with Focus.
    You two are integral parts of BURST. Yes we seem to all hurt each other at times and for the most part it is because we mean well,... after you get down to it.
    I see many efforts on your part to protect the BURST Community by setting some needed standards. Others too want to setup some processes like this. We need them and I am sure they will evolve over time.
    I think we should all work together to add to what you started here and come to a consensus of what the final draft will be as it should be. A Community effort though as typical started by one active member trying to do the right thing.

    I'm willing to be flexible to make this work if there are some community members that want to invest BEFORE I can setup the rest of my privately funded portion then we can discuss an early Asset release but we can cross that bridge when/if we get to it

    Thanks for being flexible. IMO- start small and maybe scale it rather than 1,000,000 as it just looks better for a new guy starting off small. We want people from all walks of financial ability and all over the world to be able to use the Asset platform. This is bigger than all of us. I still say it is best to work out the details with Crow himself.

    @haitch I like the idea that new asset issuers post a pre-ANN on them if new but not sure about making it a forced rule. Seems to me if it is setup properly it could do be accepted and do very well.

    Well I will do it in a way that allows future growth, which would require an initial issuing of more assets then we will release i.e. issuing 1,000,000 Assets but all shares go to escrow with only 50,000 share blocks being released for each expansion phase and with myself providing the first 10TB (3TB I already have up and mining)


  • admin

    @MikeMike said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike I'm still not 100%, so Ill try and keep this brief:

    • yes, this is absolutely the way assets should be launched - a pre-announcement with plans on how the asset will function, and community feedback/discussion to moderate it.

    • Socal is the FIRST and ONLY asset issuer willing to comply with both my guidelines I posted here - At the time it was congratulated as a great initiative to build trust in an asset issuer. Again, Socal is the ONLY asset isseuer willing to do both.

    • Somewhere back in the thread I advised Socal to release assets in stages, using each release to fund the next increase in capacity. He agreed to do that.

    Basically, Socal has fulfilled every requirement we desired of a new asset issuer - and is being lambasted as a leech. I'm kind of disgusted - Socal is willing to do everything we, the community, demand of him, and he's being insulted like this by some individuals.

    This is not how it's supposed to be.

    @haitch
    Man I gotta say you have been so helpful to me and many others I see it all the time. Same with Focus.
    You two are integral parts of BURST. Yes we seem to all hurt each other at times and for the most part it is because we mean well,... after you get down to it.
    I see many efforts on your part to protect the BURST Community by setting some needed standards. Others too want to setup some processes like this. We need them and I am sure they will evolve over time.
    I think we should all work together to add to what you started here and come to a consensus of what the final draft will be as it should be. A Community effort though as typical started by one active member trying to do the right thing.

    @MikeMike if someone has a better idea than my identity verification scheme - do it. This system gives me the users real name, and real physical address - if they screw with the community, I will release the address, and you can all go pay them an in person visit. The trust is based on the trust of me, and I think my last three years here in the community has earned that, and I am the only one that will ever know the real names and addresses of the people that elect to get verified. If I die, the scheme is totally screwed - but given that I'm dead - I won't really give a fuck, I have no viable way of keeping it this secure and also surviving my demise.


  • admin

    @MikeMike The idea of having it large is that only small parts get released at a time, those released assets are used to fund hardware expansion - then more get released. The alternative is multiple assets - and that's not a good alternative.



  • @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike The idea of having it large is that only small parts get released at a time, those released assets are used to fund hardware expansion - then more get released. The alternative is multiple assets - and that's not a good alternative.

    Got it and thanks.
    I think you are off to an awesome start in a verification process and could continue that no matter what others do.


  • admin

    @MikeMike 8 users have completed the identity verification process - I know their real names and addresses - they can be found in real life, but still be anonymous to you. I did however forget to track who paid me for the service or not - so it looks like I provided this service for a personal cost ...........



  • @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike The idea of having it large is that only small parts get released at a time, those released assets are used to fund hardware expansion - then more get released. The alternative is multiple assets - and that's not a good alternative.

    Exactly this way there is always a physical HDD backing each ~22,500 Shares so either the HDD can be sold and the proceeds split 22,500 ways between each share OR if somebody has 22,500 shares they could trade those in for one of the HDD in the event of asset closure, I've worked multiple layers of security into this Asset for investors the first being to personally fund the first 13 TB, the second layer is the 50% Escrow for Investor Insurance that way no investor can lose more than 50% of their initial investment, and lastly offering the actual equipment for shares in the event of asset closure, yeah they might not be worth what they were brand new but offering up the equipment as collateral is just another way to prove I am not doing this for myself and to help mitigate investor risk.



  • @haitch
    Well you should ask them for the required payment. IF they dont pay what they agreed to that tells you something.



  • @haitch

    I know you will be sticking by this topic closely. Could you please compile what you think could be the first draft for the BURST Asset guidelines so everyone can chime in?

    12:04am Time for lunch! lol
    ttyl...
    :-)


  • admin

    @MikeMike I still think my original guidelines over here apply - verify who your real world identity is, escrow a percentage of your asset sales to insure buyers.



  • @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike I still think my original guidelines over here apply - verify who your real world identity is, escrow a percentage of your asset sales to insure buyers.
    Thanks. Maybe adding the posting of the potential asset as an option. Also addressing the importance of starting off with at least the minimal hardware and scale up for smaller issuers.
    I hope Crow checks in the morning and chimes in even though it is his day off.
    hmmm, Maybe a template of what a smaller asset issue could look like?


  • admin

    @MikeMike there have been a number of successful asset owners that had 0 invested in their setup, and used the funds from the asset launch to produce profitable assets. I have no issues with this asset launch, and given the hoops Socal is willing to jump through - I have more confidence in this asset over some others launched recently.



  • @haitch
    It is awesome to have these few positive examples. Problem is there are far more numerous bad examples. I know this ruins it for the majority setting up rules etc. But seems there are other besides Crow that are set on people having at least the minimal hardware to start and I will guess that those that you mentioned could have had that minimal. Never know it could near remedy this problem of scammers. I am reflecting on what other upstanding members of the Community have expressed and hoping to find the best solutions all parties can work with.


  • admin

    @MikeMike the bulk of Burst scams were done by one user. By supporting new user wishing to join the community - we expand it. By refusing a user for not being here long enough, we shrink the community.

    There was a scammer that got millions of Burst with his scams - he had several solid respected members of the community accounts. After the scam was discovered, it was revealed he was one user. Multiple. Respected. Users.

    An un-verified member.

    I will back members that verify and do the escrow every day.



  • @MikeMike said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @haitch said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:

    @MikeMike I still think my original guidelines over here apply - verify who your real world identity is, escrow a percentage of your asset sales to insure buyers.
    Thanks. Maybe adding the posting of the potential asset as an option. Also addressing the importance of starting off with at least the minimal hardware and scale up for smaller issuers.
    I hope Crow checks in the morning and chimes in even though it is his day off.
    hmmm, Maybe a template of what a smaller asset issue could look like?

    The temptlate could be what I am proposing to do which is issue 1,000,000 shares, all shares will then be transferred to escrow and the Shares will be sold from the Escrow and all funds will be handled by the Escrow, that allows smaller issuers to still issue enough shares to fuel future growth while preventing them from abusing the unreleased shares



  • @socal @haitch Please see my Edited post above.
    I dont see the harm of scaling up. Sure it takes maybe a few months to get there. But it could be a nice compromise.
    I think passing things by Crow would be best. He is good at assets and this sort of thing. I am not.


  • admin

    @MikeMike With no offense to Crowetic, he's not the ruler of Burst - the community gets to decide.



  • @haitch That is just it. Crow is part of the Community as well as others and there is wisdom in a number of opinions which should lead to compromise for the greater good.
    Not saying Crow need not compromise. But the conversation should at least be had.



  • Can i make a suggestion? ALL of you from the BURST team that had an opinion on the matter in this thread need to have a conference asap.

    This WILL happen again. A decision needs to be made on where we stand.



  • Well seems like i losted the heat of the discussion and just spent more than 1 hour reading all the posts LOL

    So here are my 2 cents:

    @haitch I agree with you that if @socal is willing to go throught the verification process and to escrow part of the funds it should not be taken care as any newbie member of this community... And as you well said multiple assets (mining assets: burstocean, ccminer, and almost every mining asset out there except Burst OG as far as i know; other nature assets: @nameless assets made similar raises of funds too with the exception of 402 wich was escrowed since the start by FrilledShark if i am not mystaken) have used similar models in the past, but i believe that as we grow as a community and things get bigger that opens a door to change, and evolving is the best thing in the human nature so why not make it better? xD

    As we grow as comunity and things start getting bigger (although price as not accompaning this grow) i believe certain processes could be made better and a good adition could be:

    • If you issue an asset, you invest from your own pocket for the things that you will have to buy with FIAT, because this way you will not dumping the price...
    • Then you sell the shares and escrow the totality of funds in order to the community be sure that you will not both dump the price with it nor run away with the funds... And you be sure that your money invested in Hardware or stocks or whatever that will back your asset is completely backed too because you will have the funds available in the escrow and maybe you could even ask for the escrow person to buy another assets in the escrow account (completely protected with the insurance asset) in order to your funds could still be invested and not just stand in there...

    This way Assets will begin to drive the price UP because Assets will bring investment into Burst raising the Market Cap instead of flush funds away from BURST economy... Ofc this will make it harder to issue an asset because people would need the funds to put an asset on the market... But i see it as an investment in another country...

    Let me give you a pratical example: If you guys from the US want to open a company in Portugal you will have to send the funds to here and convert your fake USD's in fake EUR's (hahaha) in order to open the company and back it with something and even if you raise capital in here it will be held in the company most likely, right? So if you are raising to reinvest that money have to be held in the same economy...

    @Focus i understood your feelings about this thread and appreciate all the efforts you have been making to help and drive this community up in many ways but i believe that at some point you started being not much objective and open minded in this thread, even if i agree with you in the most of the things you said, but the man just open a PRE-ANN thread to ear the community thoughts so i believe that should be what we should give him...

    @socal if you may, my suggestion to you is that you buy the Hardware needed from your own pocket even if that will make the grow of the asset slower, and then raise the capital for what you have already in HW backing the asset with, then use 100% (not only 50%) of that money into an escrow account hosted by @haitch as you planned and promisse the community that you will only withdraw like 50% (for instance) of the fund when the price of BURST doubles (or more) and make it in the best way you can to avoid a dump... This way nobody can say that you are not being fair because you helped the price driven up before (by bringing capitalization into BURST) and you need to get your investment back at some point ofc! This is not only a promise since the funds will be escrowed by @haitch and he will make sure that you will not get your funds back until the price reaches the target on the markets ;D
    Ofc that while the BURST is kept in the escrow you should be able to invest it instead of it only be laying in there, so you can ask to the person that is escrowing you to invest x BURST in x Asset but in my opinion it should not be never more than 1/5 being the other 4/5 to be invested in Insurance shares in order to make your investments completely safe eliminating all the risks from you or from your shareholders...

    I think this is the way to go in the future for assets that will have to deal with external economies to BURST... Those are my two cents and most likely is not a perfect plan but anyone feel free to make suggestions or changes to it if you like! ;D

    Asking for someone else hosting the HW for you can be an extra layer of security and i'm sure very much appreciated by your future shareholders...

    Hope you make it to launch it in the best way for everyone and hope you ear my thoughts and come up with a good plan that benefits everyone!


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