[ANN] SocalsFarm (Mining Asset) 50% Investor Insurance
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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?
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@Focus on the AE just look up the Asset ID
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@socal said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:
@Focus on the AE just look up the Asset ID
I'm at a loss here, I looked it up and this is what I get:
And this is the asset itself:
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@Focus oh wow my wallet is not updating then........
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When I get home I'll close my wallet and restart it sooooooooooo you might be correct lol
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@socal said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:
When I get home I'll close my wallet and restart it sooooooooooo you might be correct lol
Yeah, that's what I thought, your wallet may have gotten stuck
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I just requested from @haitch the release of first expansion funds and the sale of the second 50,000 share block.
Funds from the second round funding WILL NOT be released to me until the first 10TB expansion is setup and mining, I just would like to get a headstart on second expansion funding.
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Ignore my post, I didnt see your update on holding off, I'm glad sound investors think alike.
@socal
this is not a good idea, the release of the 2nd set of funds should not be made available until the first set is spent and converted into mining gear and working for the asset or you are asking us to buy vapors.-IceBurst
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@IceBurst that was the idea behind the funds staying in escrow but yeah I'll just get the first 10TB setup then do the second round
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I am taking a phased and conservative approach to converting the Burst so as to cause minimal upset in the price, sells are being set at higher than current bid price and are being split up between exchanges so it could take a few days to convert, if it starts taking longer then I will sell to buys over 74 sat
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Two more days until the first asset payout Merry Christmas everyone!





