BTC Cloud Mining/BTC Long



  • By the way it's good to offer something when you are starting new asset. For example @Luke1219 Offered few TBs first and will invest another 100Tbs when half of his assets is sold. Same goes to @mathew who invested 200USD up front. You should do the same and maybe add few % maintance fee as you have to pay fee when sending dividends.

    Above all else, get verified. No one will invest in your asset as long as you have no sticker from haitch^^



  • Yeah. There's no wrong in taking a fee for yourself. You are the person investing time and effort into an asset, and deserve a compensation for that, in my eyes that's fair and square



  • @keyd0s right. I wasn't going to implement a management fee for quite a while. Wanted to make sure everything was going to work out first. Maybe a year or so down the road I will. Success of the asset is more important to me starting out.



  • Thanks every one for the advice and criticism. I see some very big mistakes that I had made. However I have never launched anything like this and this is all a learning experience. I really hope I didn't wreck your community.... I'm still going to go through with my asset however I will only be selling shares to friends and will not have a large sell number on the exchange. I'll start with no open sale orders and learn how everything works and hopefully grow from there.

    Also got 1k Burst up for whoever can help me figure out why the dividend payment keeps telling me "password doesn't match" but the password works all day for everything else. I must be doing something wrong somewhere. I'll be home at 2am ET Friday. May increase the bounty to 2k Burst if it takes a little one on one tutorial.



  • @Dillion the password must be exact, watch out for leading and trailing spaces



  • @iKnow0 Right the password works every time for sending burst,, transferring assets of CCM etc,, to a different wallet singing in and out of wallet hundred times with same copy and paste and still won't work in the send dividends. I even tried typing it out a bunch of times and didn't work.



  • @Dillion Logout of wallet and login again but select the remember password for session, it saves a lot of hassle



  • @iKnow0 oh my goodness so simple. Thank you sir I had been stuck on that for hours. Wow.......... what the address you want the 2k Burst sent to?



  • @Dillion BURST-MKWC-BBMJ-G83Z-7L9YX



  • @iKnow0 You get it?



  • @Dillion Got it thanks,



  • Ok now that I know I can mechanically use the Burst Asset program here is what I've been working on.

    Copper Backed Cloud Mining

    The goal of this asset is to provide a way for investors to get in and out of the cloud mining industry while providing insurance to long term investors in the form of copper backed assets and the cointinuous adding of long term cypto holdings.
    Starting out we will be cloud mining Bitcoin through Geneis Mining. We will be cloud mining Burstcoin through the ownership of Burstcoin mining assets.
    Each new asset issued from of this fund must be backed by one gram of copper. This will provide the quickest liquidation possible as copper buying recycling companies are plentiful. Most are open to the public six days a week for quick and easy cash payment which then can be converted to Burstcoin and distributed to the assets holders.
    This asset holds 50 pounds of #2 copper along with one pound seven ounces of copper bullion and 565 individual 1909-1982 Lincoln copper pennies. *The copper pennies are 95% copper 5% zinc. For simplicity the full weight of the copper pennies will be calculated as being 100% copper.
    Shares are not redeemable for physical copper. The physical copper backing is purely for the ability to liquidate immediatly as a whole.
    *Managment reserves the right to liquidate and close the fund if a Copper sale price of $10 U.S per pound can be obtained. All proceeds from the liquidation must be converted to Burstcoin and paid out to asset holders.
    New shares of the asset will be created for each gram of copper added to the the holdings. No less than 50 new shares shall be created at a single time. Proceeds from new shares will be rinvested into clould mining at the managers choosing.

    Offering 20,000 shares at a price of 13 Burstcoin each. Please see asset holdings for value assessment. The Burstcoin raised from this sell will be converted to BTC and used to purchase more Lifetime BTC cloud hashing power from Genesis Mining. Please keep in mind that these contracts will not last a lifetime but should last long enough to turn pure profits. Will also be cloud mining Burstcoin through ownership of Burstcoin mining assets. Currently hold CCM100 and WorldMine. BTC mining contracts upgrades will be funded by the sales of new assets created from the 5% BTC fee assigned for reinvesting in physical copper.

    Fees

    BTC Earned
    5% to management
    5% to adding physical copper holdings
    10% of BTC earned held in a long term position
    80% of BTC earned will be converted to Burstcoin and distributed as dividends

    Burstcoin Earned
    10% to Management
    10% Long term position
    10% reinvested into Burstcoin mining assets
    70% Distributed as dividends

    Management Shares
    4,801
    1 of 50 new shares created
    *Management shares are reserved for the manager of the asset and can be sold as pleased.

    Current Holdings

    Values are calcuated at $1,010 U.S/BTC 72Satoshi/1 Burstcoin 1 lb Copper $2.20 U.S 7 Burstcoin/1 gram copper

    Copper Holdings
    1909-1982 Lincoln Copper Penny
    1,757 grams
    50 lb Clean Copper Scrap
    22,400 grams
    1 lb 7 oz Copper Bullion
    644 grams
    Total Copper = 24801 grams
    Total Value= 173,607 Burstcoin

    Cloud Mining Contracts
    Genesis Lifetime BTC 0.5 TH/s
    Value =102,777 Burstcoin

    Burst Assets
    CCM100
    1,000 Assets
    Value = 10,010 Burstcoin
    WorldMine
    400 Assets
    Value = 38,000 Burstcoin
    Total value of Burstcoin assets = 48,010

    Total Value of Copper Backed Cloud Mining
    322,413 Burstcoin



  • @Dillion Copper backing is a great addition, but...... It's all to no avail unless the Genesis Cloud Mining Contracts can make money.

    Everything I have seen points at it being impossible to make money Cloud Mining BTC. Can you please show some projections, taking account of Difficulty Increases and your charges, that demonstrates why you think your Asset Holders will make Money from this venture?

    Rich



  • @RichBC great question thank you for asking. As of this moment I project a starting rate of .0042 BTC a week with a increase of .00006 BTC per month. This is just the 24801 original shares. As it grows so should the numbers. I speculate BTC at $1400 at years end of 2017. However that is just my speculation and it could also go straight down leaving the copper as the lone true value of the asset. I do not have projections taking into account difficulty.



  • As Rich said it looks really good but it's still missing 2 things: ID Verification and some sort of income. I don't believe as well as Rich that you can get money from cloud mining contracts. Copper Holdings and mining assets are great addition but this asset is still missing some main steady income.
    If you get ID verified then this asset is ok for everyone that wants to try out cloud mining as it's obviously more profitable then buying it from them but for me as I don't believe in Genesis Mining it's a pass.
    On the bright side Multi Crypto Mining asset is doing ok and it's using eobot which is even worse cloud mining company :P



  • https://www.facebook.com/cloudmining.burstasset.9

    I messaged Hitachi and that person never got back with me. Here is the asset FB page.

    Let me know what you think. Thanks for all the advice


  • admin

    @Dillion It's Haitch, not Hitachi :-) I've replied to your message, sorry about the delay - not sure how I missed it.



  • @RichBC After some more thought I think I can supplement for difficulty rise by devaluing my valuation of the contract on a weekly basis. What I need to do is figure out around about what that number should be. With my estimate of 420k satashoi a week start up = 5,833 Burst. However I should factor that the contract could be losing maybe 2,000 Burst a week in value. Like a piece of machinery the contract deteriorates over time.



  • @haitch said in BTC Cloud Mining/BTC Long:

    @Dillion It's Haitch, not Hitachi :-) I've replied to your message, sorry about the delay - not sure how I missed it.

    Are you not Itachi :O?


  • admin

    @BurgerBaron Nope, just a simple Haitch


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