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

haitch

@Focus We've been to those prices, and even lower. But with 12M Burst having been traded in the last 24 hours, even if Socal dumped 500K all at once, it's not even going to fill the first buy order - it's not going to crash the price of the coin. Hell, I have a damn sight more Burst, and at best/worst I could drop the price maybe 5 satoshi if I dumped them all.

Focus

@haitch and @socal, it;s not the dollar amount that matters in this case, it is the precedent that we are setting. How many more people are going to want to do the use the same formula???

You speak of the 12M Burst traded, do you know where that influx comes from?

AdamGuerbuez

This post is deleted!

socal

@Focus and what is so bad about setting a precedent of TRANSPARENT and TRUSTWORTHY community run assets? I have agreed to all of Haitch's Identity terms plus added in links to my other accts AND cell number AND I am putting 50% of the funds raised into escrow as insurance so I don't know what else more I could do to prove that I will deliver as promised

Focus

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

@Focus and what is so bad about setting a precedent of TRANSPARENT and TRUSTWORTHY community run assets? I have agreed to all of Haitch's Identity terms plus added in links to my other accts AND cell number AND I am putting 50% of the funds raised into escrow as insurance so I don't know what else more I could do to prove that I will deliver as promised

Why do you keep calling this an asset, currently as it stands you have 3 TERRABYTES..... You do not own the equipment you are offering, you are asking the community to buy it for you.

As far as I am concerned, anyone from now on trying to issue or sell an asset for mining power, going with the current network size and difficulty, that does not at least OWN themselves 40-50TB to back it, I will fight tooth and nail for it NOT to be issued.

My 2 cents

socal

First off how does utilizing crowdfunding for a community project make one a leech?

Secondly, I would not be dumping ANY burst outside of the costs of electricity, after that the remainder of the fee would be held onto for future growth and all remaining burst outside of the fee would go to asset holders so I can't speak for them and what they would do with their burst payouts

haitch

@Focus The community will only support so many mining assets - if the interest is not there, the asset won't sell, and the Burst won't get traded. For all I know, Socal won't sell a single share.

@AdamGuerbuez Yes you could do that - but what's the point of destroying the value of the coin? This is not the first asset to have raised funds to mine Burst or other coins, that then distribute Burst to the community. Socal gets his miner, his investors get the income. You could have presold your asset to fund buying the drives (and based on the current buy bid, your asset is valued at 25M Burst which is more than the cost of your capacity) but chose to invest then sell the asset - Socal, and ccminer and others before, chose to go the other way - sell the asset to build the miner. Your asset isn't hurting the Burst market - neither will Socals.

socal

@Focus 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:

@Focus and what is so bad about setting a precedent of TRANSPARENT and TRUSTWORTHY community run assets? I have agreed to all of Haitch's Identity terms plus added in links to my other accts AND cell number AND I am putting 50% of the funds raised into escrow as insurance so I don't know what else more I could do to prove that I will deliver as promised

Why do you keep calling this an asset, currently as it stands you have 3 TERRABYTES..... You do not own the equipment you are offering, you are asking the community to buy it for you.

As far as I am concerned, anyone from now on trying to issue or sell an asset for mining power, going with the current network size and difficulty, that does not at least OWN themselves 40-50TB to back it, I will fight tooth and nail for it NOT to be issued.

My 2 cents

once again the community isn't buying me jack diddly, this is for the COMMUNITY is owned by the COMMUNITY and belongs to the COMMUNITY I have Cash on hand now to buy the Harddrives and make an Asset AFTER paying for it all out of pocket but I'm sorry I'm willing to run this thing and manage it but the community has to meet me halfway, if they want it they will buy it if they don't then they won't I'm just trying to help out I am literally doing this for 0 profit. I am even willing to throw my current 3 TB on top as a bonus to show I am not in this for profit

Focus

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

@Focus 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:

@Focus and what is so bad about setting a precedent of TRANSPARENT and TRUSTWORTHY community run assets? I have agreed to all of Haitch's Identity terms plus added in links to my other accts AND cell number AND I am putting 50% of the funds raised into escrow as insurance so I don't know what else more I could do to prove that I will deliver as promised

Why do you keep calling this an asset, currently as it stands you have 3 TERRABYTES..... You do not own the equipment you are offering, you are asking the community to buy it for you.

As far as I am concerned, anyone from now on trying to issue or sell an asset for mining power, going with the current network size and difficulty, that does not at least OWN themselves 40-50TB to back it, I will fight tooth and nail for it NOT to be issued.

My 2 cents

once again the community isn't buying me jack diddly, this is for the COMMUNITY is owned by the COMMUNITY and belongs to the COMMUNITY I have Cash on hand now to buy the Harddrives and make an Asset AFTER paying for it all out of pocket but I'm sorry I'm willing to run this thing and manage it but the community has to meet me halfway, if they want it they will buy it if they don't then they won't I'm just trying to help out I am literally doing this for 0 profit. I am even willing to throw my current 3 TB on top as a bonus to show I am not in this for profit

OK so let's go with your direction of COMMUNITY then, are you willing to have crowetic buy these hard drives with money you send him, not Burst taken from the community and sold, host them at his facility, and control the asset you want to release?

If not, by all means, go out and build the miner ahead of time and then sell your assets? I will even invest if you do it that way.

Focus

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

once again the community isn't buying me jack diddly, this is for the COMMUNITY is owned by the COMMUNITY and belongs to the COMMUNITY I have Cash on hand now to buy the Harddrives and make an Asset AFTER paying for it all out of pocket but I'm sorry I'm willing to run this thing and manage it but the community has to meet me halfway,

Excuse me, the community has to meet you halfway????? You joined here 4 hours ago, who are you for the community to meet you halfway? You want to be a part of this community start off by contributing to it instead of wanting to take away from it.

socal

@Focus 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:

@Focus 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:

@Focus and what is so bad about setting a precedent of TRANSPARENT and TRUSTWORTHY community run assets? I have agreed to all of Haitch's Identity terms plus added in links to my other accts AND cell number AND I am putting 50% of the funds raised into escrow as insurance so I don't know what else more I could do to prove that I will deliver as promised

Why do you keep calling this an asset, currently as it stands you have 3 TERRABYTES..... You do not own the equipment you are offering, you are asking the community to buy it for you.

As far as I am concerned, anyone from now on trying to issue or sell an asset for mining power, going with the current network size and difficulty, that does not at least OWN themselves 40-50TB to back it, I will fight tooth and nail for it NOT to be issued.

My 2 cents

once again the community isn't buying me jack diddly, this is for the COMMUNITY is owned by the COMMUNITY and belongs to the COMMUNITY I have Cash on hand now to buy the Harddrives and make an Asset AFTER paying for it all out of pocket but I'm sorry I'm willing to run this thing and manage it but the community has to meet me halfway, if they want it they will buy it if they don't then they won't I'm just trying to help out I am literally doing this for 0 profit. I am even willing to throw my current 3 TB on top as a bonus to show I am not in this for profit

OK so let's go with your direction of COMMUNITY then, are you willing to have crowetic buy these hard drives with money you send him, not Burst taken from the community and sold, host them at his facility, and control the asset you want to release?

If not, by all means, go out and build the miner ahead of time and then sell your assets? I will even invest if you do it that way

If thats what works then sure I'd be more than happy to send Crowetic the funds, but one question, why is he not doing this then? wouldn't it make more sense for him to manage the asset instead of having me as a middle man? just asking, because what you are asking didn't make much sense to me, sorry

Focus

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

@Focus 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:

@Focus 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:

@Focus and what is so bad about setting a precedent of TRANSPARENT and TRUSTWORTHY community run assets? I have agreed to all of Haitch's Identity terms plus added in links to my other accts AND cell number AND I am putting 50% of the funds raised into escrow as insurance so I don't know what else more I could do to prove that I will deliver as promised

Why do you keep calling this an asset, currently as it stands you have 3 TERRABYTES..... You do not own the equipment you are offering, you are asking the community to buy it for you.

As far as I am concerned, anyone from now on trying to issue or sell an asset for mining power, going with the current network size and difficulty, that does not at least OWN themselves 40-50TB to back it, I will fight tooth and nail for it NOT to be issued.

My 2 cents

once again the community isn't buying me jack diddly, this is for the COMMUNITY is owned by the COMMUNITY and belongs to the COMMUNITY I have Cash on hand now to buy the Harddrives and make an Asset AFTER paying for it all out of pocket but I'm sorry I'm willing to run this thing and manage it but the community has to meet me halfway, if they want it they will buy it if they don't then they won't I'm just trying to help out I am literally doing this for 0 profit. I am even willing to throw my current 3 TB on top as a bonus to show I am not in this for profit

OK so let's go with your direction of COMMUNITY then, are you willing to have crowetic buy these hard drives with money you send him, not Burst taken from the community and sold, host them at his facility, and control the asset you want to release?

If not, by all means, go out and build the miner ahead of time and then sell your assets? I will even invest if you do it that way

If thats what works then sure I'd be more than happy to send Crowetic the funds, but one question, why is he not doing this then? wouldn't it make more sense for him to manage the asset instead of having me as a middle man? just asking, because what you are asking didn't make much sense to me, sorry

You obviously have no idea about this community then...

socal

@Focus 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:

once again the community isn't buying me jack diddly, this is for the COMMUNITY is owned by the COMMUNITY and belongs to the COMMUNITY I have Cash on hand now to buy the Harddrives and make an Asset AFTER paying for it all out of pocket but I'm sorry I'm willing to run this thing and manage it but the community has to meet me halfway,

Excuse me, the community has to meet you halfway????? You joined here 4 hours ago, who are you for the community to meet you halfway? You want to be a part of this community start off by contributing to it instead of wanting to take away from it.

Alright obviously you are just going to remain hostile so there isn't much point in continued discourse with you but I never had any intention of taking from the community besides what exactly would I be taking? You act like I'm here asking for handouts with no intention of delivering promised goods/services and I've already laid out a multi layer plan to protect community members in the event of a shutdown

socal

Well this has been good, found out that some members of the community do NOT like this idea, thats good thats why I made a pre-ann, to figure these things out. Anyone else have anything to contribute?

haitch

@socal Do the ID Verification, do the escrow - I'll buy shares.

socal

oh I will be doing all verifications and such and using escrow.

I am also thinking about increasing share size by an order of 10 so the new breakdown would be

1st Round - 500,000 Shares @ 10 Burst/Share

2nd Round 250,000 Shares @ 15 Burst/Share

3rd Round 250,000 Shares @ 20 Burst/Share

This gives a total of 13.75 million Burst, 50% of which will go directly to escrow, which will provide ~100TB of dedicated Burst mining that will be personally managed and upkept by myself.

what do you all think?

Focus

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

oh I will be doing all verifications and such and using escrow.

I am also thinking about increasing share size by an order of 10 so the new breakdown would be

1st Round - 500,000 Shares @ 10 Burst/Share

2nd Round 250,000 Shares @ 15 Burst/Share

3rd Round 250,000 Shares @ 20 Burst/Share

This gives a total of 13.75 million Burst, 50% of which will go directly to escrow, which will provide ~100TB of dedicated Burst mining that will be personally managed and upkept by myself.

what do you all think?

OK this is a real farce now.

haitch

@Focus Why farce?

Looking at some of the other mining assets:

ccminer - 6M Burst
ibmining - 50M Burst
MCM - 10M Burst
ogburst 25 BTC ( 33M Burst).

13M Burst, half invested in hardware to mine with, half in escrow to protect the investors - which no other asset has done - seems very reasonable to me.

haitch

@Focus Please stop locking this topic.

socal

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

@Focus Why farce?

Looking at some of the other mining assets:

ccminer - 6M Burst
ibmining - 50M Burst
MCM - 10M Burst
ogburst 25 BTC ( 33M Burst).

13M Burst, half invested in hardware to mine with, half in escrow to protect the investors - which no other asset has done - seems very reasonable to me.

Well seeing the numbers on the other assets does make me feel better about the numbers I'm running but actually just as proof of concept I'll keep it at the original share schedule for a total of 10TB, once its been proven to work as advertised another asset for a larger rig can be made