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


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will also be handling the Asset share sales from now on so what remained of the first 50,000 share block has been withdrawn from the AE and all 991,217 remaining shares have been forwarded to the Escrow.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


  • admin

    @socal I've emptied my 95TB miners account. It's going to continue mining on a pool, but all funds from it will be sent to the asset account until I feel you're established.



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

    @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?

    Yes that answer my question... I like how this is being managed?!

    And regarding what @haitch said about reinvesting the amount in escrow i think that if you invest just 1/5 of the amount in escrow in assets and use the remaining 4/5 of the funds to buy insurance assets the totality of the funds will be secured if any asset fail or turn into a scam... The only way the funds will be undervaluated is if the value of an esset goes down and still don't turn into a scam or fail...
    Also this way it adds a bit risk (not much) to the investors but at the same time it will allow for the amount secured can raise and after some months can reach 100% of the investment or even more making this asset one of the most secured out there?!


  • admin

    @gpedro The option of using some of the escrow as asset investment and the rest as liquid makes a lot of sense. It would give asset holders, for example, a 40% guaranteed return in the case of asset failure, plus whatever the assets have earned and can be redeemed for. In the case of a successful asset the asset owner can either distribute the earnings over base as a bonus, or invest it in additional resources to expand the asset.



  • @haitch @gpedro

    These are valid and good suggestions but as stated for now I will keep it at 50% held in Burst for insurance, utilizing the funds for equipment upgrades has been suggested before and is the most appealing option to me because it will allow a doubling of maximum mining capacity BUT as I have kept stating I will eventually put it to a shareholder vote to decide what to do with the Insurance funds



  • @socal Sure... I just bought some shares from your asset ;D



  • Asset Update:

    We have sold enough asset shares to purchase the first HDD, with that being said each 50,000 share block funds the purchase of TWO HDDs so to save on shipping and prevent confusion I will be waiting until the whole share block is sold before purchasing the HDDs that way it saves on shipping AND provides the full 10TB mining increase as promised.



  • The share sale continues, about 50% done with the first share block, once completed I will get the first HDD expansion of 10TB



  • I don't know about you guys but I'm seriously excited for Saturday, not only will it be Christmas Eve but I get to give all the investors their first dividend payout as an early Christmas present.
    I have a feeling 98TB mining for a week will have quite the impressive dividend, considering only about 2.2% of shares have been sold.



  • I have done the math on this one, Here it is for those interested. While H has the bonus rolling the expected payment is ~3K Burst Daily. With the total Burst outlay in Rd 1 being 1m (50K shares @ 20ea) we expect 100% RoI in under a year even when accounting for the monthly drops. This has an investment cost of 10.2 Burst per GB. If we keep the 95TB bonus after the first round purchases the additional 10TB the cost per TB drops below the magic 10 mark to 9.2Burst per GB.

    I was skeptical in the beginning when "another burst mining asset" was launching but getting H verified and loading 50% of all the Burst into Escrow speaks volumes. The other point of contention was that the asset needs to have a product or physical presense backing it, and now it does with 3TB.

    I urge you as an early investor don't buy it so I can get a larger payout but that's just the evil and greed in any investor as the current asset is sold 60%.

    -IceBurst



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

    While H has the bonus rolling the expected payment is ~3K Burst Daily

    I mine with 80TB and my Daily average is around 5K, so 98TB could I think yield in the order of 6K Burst Daily. :-) Question is for how long will H continue with the generous addition to the mine?

    Rich


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