[PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details
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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
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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
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@RichBC said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:
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
Quite honestly the reason s to invest are as follows:
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After doing some research I feel confident that I can supply one of, if not THE, cheapest price per TB
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With the business model I have in place not only is future growth guaranteed, provided there is interest in the Asset i.e a steady sale of shares, but a minimum of 50% coverage for every Burst invested makes my Asset unique in that no matter what happens all investors are guaranteed a minimum of 50% reimbursement
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The most obvious and mundane of all, to help secure the Burst network and to help balance the net hash between the pools
I hope these reasons are valid enough for your liking although I realize that no matter what there will always be people who don't have the risk tolerance to invest in my asset.
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There is one more thing I wish to posit to you all, how would you all feel if after a set amount of time.....say 12 months, I take a vote of the shareholders to see if they wish to release some/all of the Escrow holdings for expansion or if they wish to maintain their 50% Investor Insurance. To make it fair the vote would be for asset holders only, with each account getting only one vote (i.e. non-weighted)
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@socal said in [PRE-ANN] Socal's Burst Mining Asset, 30% bonus! see details:
After doing some research I feel confident that I can supply one of, if not THE, cheapest price per TB
I realize that no matter what there will always be people who don't have the risk tolerance to invest in my asset.For me it's not about risk in itself it's about what differentiates the setup or the Owner that makes the investment worth the risk, and do I have confidence that it will be delivered.
So what is it about your setup that enables you to offer cheaper $/TB than anyone else? Please provide some figures and comparisons with current Mining Asset providers?
Rich
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@RichBC 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:
After doing some research I feel confident that I can supply one of, if not THE, cheapest price per TB
I realize that no matter what there will always be people who don't have the risk tolerance to invest in my asset.For me it's not about risk in itself it's about what differentiates the setup or the Owner that makes the investment worth the risk, and do I have confidence that it will be delivered.
So what is it about your setup that enables you to offer cheaper $/TB than anyone else? Please provide some figures and comparisons with current Mining Asset providers?
Rich
Sure, but please bear in mind these are just some highlights and does not encompass every single facet of each asset
O.G. Burst = 8000 Sat/share ~ 1100+ Burst per share with 250,000 shares (brought to asset parity that equates to over 275 Burst per share compared to my 20) No 50% Escrow
BCMPMiner = 2 Burst per share with 500,000 shares (brought to parity that is 1 Burst per share compared to my 20) Rig is only 7.8 TB with a 5% fee for administration and maintenance with upgrades to come out of the 5% fee No 50% Escrow
CCMINER = 10 Burst/share with 600,000 shares (brought to parity that gives slightly more than 5 Burst per share compared to my 20) Rig is a direct buy asset every 60,000 share sold pays directly for the next 10TB 10% fee No 50% Escrow
Superskid = 56 Burst/share 82,000 shares (brought to parity that gives a cost of slightly over 5 Burst per share compared to my 20) 15% fee, only 82TB max mining size, no 50% Escrow
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now with all of that said I am offering 10 TB of mining plus 50% Investor Insurance held in Escrow, for every 50,000 share block sold (minus a 10% fee to cover electrical costs and for reinvestment into the asset) that gives me an operating cost of $25/TB PLUS $25 of Insurance for every TB (this is assuming a rate of 1 Burst = 70 sat and 1 BTC = $770)
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This gives us a cap of 160 TB of mining capacity WITHOUT releasing any Escrow funds or up to 320TB of mining capacity depending on amount of Escrow funds asset holders decide to release (if any) and how well reinvestment into the asset from the fee has gone (I.e. did we make good dividends or not) I believe that at the current time a 160 TB mining asset would be able to generate quiet a bit of dividend revenue for quite some time and if this model proves viable and popular there is nothing to limit a second asset with a second rig after capping the first asset
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Extra capacity could also be built in by increasing the PPS for subsequent share offerings, just some ideas OK all bed time for me, hopefully I have interested some of you with my proposed asset and I look forward to working on this project with all of you
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Holly molly this got out of hand while i was sleeping :)
Anyways wanted to add to what @MikeMike @haitch @gpedro and some others were talking about asset issuing. This thought is completly apart from this thread asset (i just dont invest into burst mining assets).
For me asset issuing is same thing as if i would open a buisness - since i dont have enough money myself i find investors (in this case ppl willing to buy my asset) explain and detalize how it will work, how much will be paid back and so on. I also did a post before release to see if there would be any interest. There was very little lol, but still decided to risk and open it (1000 Burst was a hefty price for me at the time) and now its still going slow but its moving and once the dividends start paying out who knows maybe even gonna sell out all asset (my wishfull thinking lol). Now i dont have escrow, not identified with haitch, so i am running on pure trust, trust that i hope i earned by helping some, talking with others, explaining how it works etc. And now that my asset is alive i pour everything i get into it (i do some dmall mining) by buying its shares to my personal wallet.
So long story short. Investement will never be safe neither in Burst neither real life. It comes with risk and clever investors know it.I might add to this later as i probably missed something while writing :) But now returning this thread back to its owner :)

