[ANN] SocalsFarm (Mining Asset) 50% Investor Insurance



  • Also for now I am placing a hardcap total of 250,000 shares so for now the most shares that will be sold total is 250,000, that allows for a phased build up and helps protect the BURST economy.



  • @socal ah thanks for telling me :o



  • Just bought some will try to buy more tomorrow and in the coming days!



  • @HaveMercy no problem at all and everyone remember NEVER invest more than you can afford to lose (this rule goes for all investments not just my asset)



  • @socal i didn't get quite unlightned with your response... The @haitch 's 95Tb will be used as bonus or they will be used as initial pre plotted drives that will be distributed like if you sell enough assets to buy 10Tb you got 10.53% (wich corresponds to 10Tb of his 95Tb) of mined by the 95 Tb total to pay dividends?



  • @gpedro ah OK I see what you are asking now, it will be a Bonus since the 95TB belong to Haitch and not the asset. So this 95TB is meant to help the asset launch and give something to the early investors.

    When you buy shares you are buying Asset owned mining capacity, as of right now that would be 3TB, but as stated Haitch's 95TB will be backing the asset as well until such a time that Haitch feels the asset is viable enough to stand on its own. But for however long the 95TB is used for the asset you will get that rate of pay so as you stated if you buy 100,000 shares (10%) you will get dividends equivalent to mining with 9.8 TB (Haitch's 95TB + Asset owned 3TB = 98TB) and that amount will go up as more HDDs are added so after the first expansion it'll be 10.8TB then 11.8TB etc etc

    That being said here's the tl;dr version:

    Haitch's 95 TB are a Bonus and are not Asset owned HDDs

    Did this answer your question a little better?


  • admin

    @gpedro I'll have 95TB mining on a pool on behalf of the asset, I'll be sending him the earnings from those miners. At some point when his farm grows I'll go back to mining for my self.



  • Also I will post here when dividends have been paid, which will be weekly for now but I will change it to daily dividends once more mining capacity is added.

    I will also inform everyone when Investor Insurance payments are sent to Haitch's Escrow

    Since everything on the block chain is visible I encourage our resident block chain forensics experts to watch my asset and personal addresses so see that everything is being performed as promised


  • admin

    @socal one question - do you want me to just hold your Burst in the escrow, or invest in other assets in the expectation of increasing your stake? Leaving them in Burst earns nothing, but ensures they're available - investing them gives the expectation of earning, but always has the potential of a loss occurring, and depends on buyers for the assets.



  • I'd rather hold it in liquid BURST that way it's more available and also the exact amount needed to cover Investors 50%

    Just an example say some assets were bought with the Investor Insurance funds and the price of those assets went down and my asset closed the investors would NOT get 50% back and it would make me a liar

    But we can always put it to a vote and let the share holders decide


  • admin

    @socal No problem - My intention has always been to leave it up to the asset owner/holders to decide.

    Just holding is the safest option, investing is as always speculation.



  • Just got in :D With a few shares, but I'm in lol

    If you got Burst as Escrow, I think you can invest in the team assets. All of them are safe, I think.



  • @JotaJota said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:

    Just got in :D With a few shares, but I'm in lol

    If you got Burst as Escrow, I think you can invest in the team assets. All of them are safe, I think.

    yes but as stated I'm utilizing those funds as the Investor Insurance to insure every investor is covered for 50% of their investment



  • @socal I have no problem of getting my insurance in the teams assets or Burst. Its the same for me. If something goes wrong here and I get assets, I think its even better. But you are the one who calls boss.



  • @JotaJota said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:

    @socal I have no problem of getting my insurance in the teams assets or Burst. Its the same for me. If something goes wrong here and I get assets, I think its even better. But you are the one who calls boss.

    Well for now I will leave it in Burst but like I said later on we can put it to a vote and if shareholders want their Insurance funds to go into Team assets then thats their call



  • @socal Nice. I think assets are better cause the funds will raise. With this you can improve your equipment, or send as bonus to the holders. This can be your "differential" in the mining assets run on the AE.



  • @JotaJota not only that but no other Asset out their insures their investors for 50% of their investment, which is a pretty damn big differential if you ask me lol



  • Everyone the first Investor Insurance payment of 37,830 Burst has been sent to BURST-SYKS-5FKR-FXFM-HNKFC.

    Haitch's Escrow will also be handling the Asset share sales from now on so what remained of the first 50,000 share block has been withdrawn from the AE and all 991,217 remaining shares have been forwarded to the Escrow.

    Just another security layer to assure and protect Investors.

    Investor Insurance Payment TXID: 6665461669442331660

    Share Transfers to Haitch's Escrow TXIDs: 10865358566705325065 and 10576266220066347062


  • admin

    @socal Just to confirm - 100% of the asset shares outstanding are now in the Escrow account - and under my sole control. There is a second account, I call it the Archive account, where the escrowed funds are held. As the asset sells, I'll send 50% of the funds to Socal, 50% to the archive account.

    The asset release schedule will be controlled by Socal - but I'm the only one that can put them on the market.

    All asset purchase funds go to the escrow account, I release 50% to Socal, and transfer the other 50% to the Archive account - ensuring that there is the 50% insurance escrow. None of the purchase cost goes directly to Socal - only me.

    Thank you Socal for going through these steps - this should be an asset people can have a lot of faith in.



  • Just to inform everyone I have sent 40,000 Burst (proceeds from shares already sold + some personal funds) from the Asset account to my personal account from now on the only burst that will go in or out of the Asset account will be from mining and dividends. I left 2,425 personally bought Burst in the Asset account to cover TX fees and to jumpstart dividends.


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