[ANN] SocalsFarm (Mining Asset) 50% Investor Insurance
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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
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@socal Sure... I just bought some shares from your asset ;D
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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.
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The share sale continues, about 50% done with the first share block, once completed I will get the first HDD expansion of 10TB
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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.
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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
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@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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@RichBC he has stated that he will continue backing the asset until we feel it is viable on its own, which I personally feel would be around 40TB to 50TB of asset owned mining capacity which equates to 200,000-250,000 shares sold
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@IceBurst said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:
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
ACTUALLY....If you account for 50% of funds going towards insurance the cost per GB is actually 5.1 Burst because no matter what you will always receive 50% of your investment via the Investor Insurance
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but this is just a "paper cost" the "actual cost" is the stated 10.2 Burst/GB but considering half is held as insurance, if the asset ever closes down your "actual cost" will go to 5.1 Burst/GB since you get a 50% refund
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@socal said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:
ACTUALLY....If you account for 50% of funds going towards insurance the cost per GB is actually 5.1 Burst because no matter what you will always receive 50% of your investment via the Investor Insurance
Not sure that is the correct way to look at it? Cost to us is in terms of Return is still 10 Burst / GB, however our risk in case of an Asset wind up is reduced to 5 Burst / GB.
Converse the Downside of the Insurance is that it will halve the size of the Possible Farm and reduce shareholder returns. Might have been simpler for everyone to just invest half as much, as the overall result would have been the same and we would have been free to invest the other half as we please and get a return from it? :-)
Rich
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@RichBC the whole point of it is to provide investor security. NO OTHER ASSET OFFERS ANYTHING CLOSE TO THIS. Now to help mitigate farm size limits two courses of action will be put to vote by the shareholders.
The first vote will be held after hitting the 250,000 share cap I have agreed to and it will determine how long to enforce the cap and if subsequent share prices should be raised.
The second vote will occur when 100% of assets have been sold and will determine whether to keep the Investor Insurance fund and farm size as is or to release some or all of the Investor Insurance funds to further expand the farm.
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@socal said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:
@RichBC the whole point of it is to provide investor security. NO OTHER ASSET OFFERS ANYTHING CLOSE TO THIS
I agree that is how it was presented, however all it has really meant is that we have in the short / medium term been forced to put money under the bed earning no interest.
It would have been just as "secure" to have not paid that money in the first place and then to have bought more shares when the Asset was established.
I have no objection to what has been done, but let's not kid ourselves that it is insurance, it's just our money sitting there doing nothing
Rich
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These votes will also be one vote per shareholder so that no whales can unfairly influence the vote, well at least not easily.
All of this is to provide investor security, operational transparency, and community governance of the asset
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Looks like the shares are ending.
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@JotaJota how so? There's still over 28,000 shares for sale.
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@socal said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:
@JotaJota how so? There's still over 28,000 shares for sale.
The first 50,000 have sold already
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@Focus uhhhhhh no they haven't......The escrow still has 28,000+ shares for sale
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@socal 28,976 shares left to be precise
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Oh, didn't see that so where do we find those shares for sale?



