[PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details
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@haitch
Well you should ask them for the required payment. IF they dont pay what they agreed to that tells you something.
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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...
:-)
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@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.
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@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?
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@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.
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@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.
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@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.
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@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
0My personal Burst Account BURST-TFTW-Q22L-PJGD-2JWU4
Asset Escrow: BURST-SYKS-5FKR-FXFM-HNKFC
Asset Insurance: BURST-LCBK-YQEW-DBHW-5NJXH
1GB = 4096 nonces
1TB = 4194304 nonces
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@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.
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@MikeMike With no offense to Crowetic, he's not the ruler of Burst - the community gets to decide.
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@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.
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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.
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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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I say freedom and wisdom to make our own decisions wether to issue or support assets.
There is nothing stopping anyone from pressing that button and paying 1000 burst to issue an asset nothing at all but ones own conscience and nothing stopping one from purchasing an asset but ones own better judgement.
no one can prevent these inalienable rights of burst.
i think this is a perfect opportunity to test @haitch self doxxing approach to responsible bursting. what are we afraid of? don't like it? don't buy the asset.
I've been going on for weeks how burst ecosystem needs a verification process and i'll do everyone a solid and analyze the financial capabilities of @socal asset model and provide for a rating based on comparisons of other well known burst assets like byte ent NEWS and bsilver.
how bout that?
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@goodplanets Helping people to make the right calls when buying an asset is good... And you are right that nothing can be controlled regarding to issue an asset but what is the point of issue an asset if no one will buy it right? My directions above are directed to issuers not buyers ;D
0faucet.burstcoin.pt | burstcoin.pt | I just help for pleasure but if you want donate some coins: BURST-JYHR-SPXP-YT22-5F4KM
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@goodplanets said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:
I say freedom and wisdom to make our own decisions wether to issue or support assets.
There is nothing stopping anyone from pressing that button and paying 1000 burst to issue an asset nothing at all but ones own conscience and nothing stopping one from purchasing an asset but ones own better judgement.
no one can prevent these inalienable rights of burst.
i think this is a perfect opportunity to test @haitch self doxxing approach to responsible bursting. what are we afraid of? don't like it? don't buy the asset.
I've been going on for weeks how burst ecosystem needs a verification process and i'll do everyone a solid and analyze the financial capabilities of @socal asset model and provide for a rating based on comparisons of other well known burst assets like byte ent NEWS and bsilver.
how bout that?
I would love a fiscal assessment of my proposed plan. Also as of right now I think a hybrid approach would be best since my Asset has become the de facto test bed for new Asset Issuing Guidelines.
As such I will provide the first 13 TB of mining and then sell a 50,000 share block to purchase a further 10 TB, this will be secured by my 13TB worth of HDD and then as trust/interest grows more 50,000 share blocks can be sold for further 10TB expansions. This allows for future growth to be financed and driven entirely by interest/support in the Asset instead of being 100% dependent upon my 10% fee, also of note just because there will be a 10% fee DOES NOT mean I will be getting 10% it means the Escrow will be getting the 10% and then releasing just enough to pay for electricity and reinvesting the rest into further Hardware upgrades
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Very interesting debate!
From how I see it, @socal pre-Announced an idea and is following forum laws with ID verification, escrows and so on .. nothing wrong in that. It might be a scam and might be another hot asset, No one is Forced to buy unless they see opportunity in it.
Similar Asset came to Burst a while ago, the owner launched it very shortly after joining the forum and before ID verification; yet, it is the hottest asset today mining and supporting the network.What is wrong to me is when I see someone abusing administrative powers in the forum to lock a thread claiming to protect the community and start throwing words to the new guy and even allowing someone who is already selling an asset without ID verification and trading it in another currency to threaten the whole Burst network just to not allow new miner in.
The pre-ann topic here is not even for discussion, an asset is out there and users have the choice to buy or not. The topic for discussion should be @haitch giving privileges to wrong people on the forum.
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I believe, with the right guidance, asset issuers (noob or not) and investors (noob or not) can make better* decisions regarding the proposition and support.
*edit: word choice, grammar
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@goodplanets That is exactly what it is!
No one should be banned from issuing an Asset .. Doing the extra ID verification process and paying escrow would make investors feel safe to buy the asset. Many Assets on the exchange did not give a sense of security to the investor and yet people are crazy buying it.
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Wowww long read to get to the bottom.
So putting aside newbieness, evidence of hardware, experience in Burst or setting up and running a Burst Mining Operation etc. My question for this any any other new Mining Asset is :-
@socal Why should anyone invest in it and what differentiates this Mining Asset from the established choice of Mining Assets we already have?
I appreciate that if the answer is nothing, that perhaps people should choose not to invest, however unfortunately some people seem to invest in any Asset that is out there.
Rich
