BTC Cloud Mining/BTC Long
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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 dividendsBurstcoin Earned
10% to Management
10% Long term position
10% reinvested into Burstcoin mining assets
70% Distributed as dividendsManagement 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 BurstcoinCloud Mining Contracts
Genesis Lifetime BTC 0.5 TH/s
Value =102,777 BurstcoinBurst Assets
CCM100
1,000 Assets
Value = 10,010 Burstcoin
WorldMine
400 Assets
Value = 38,000 Burstcoin
Total value of Burstcoin assets = 48,010Total Value of Copper Backed Cloud Mining
322,413 Burstcoin
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@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
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@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.
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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
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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
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@Dillion It's Haitch, not Hitachi :-) I've replied to your message, sorry about the delay - not sure how I missed it.
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@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.
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@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?
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@BurgerBaron Nope, just a simple Haitch
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@Dillion have you thought of replacing the genesis mining contracts with burst assets that only mine other crypto currencies?
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@iKnow0 Yes I have thought of that. However starting out with this fund I want to go with the big dog in the game and obtain actual BTC. Now you'll see as time goes on and I see more reports from the Burst mining assets and become more confident in them I will allocate more funds to that that sector. I really wanted to get some of the OGBurst but its already selling at double the issue price right now and I don't feel like that is a good buy just yet.
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Starting out today 2/4/2017 as the first day of operations. Right out of the gate the asset has a liquidation value of about 9 Burstcoin per share. Offered assets are priced with the first Bitcoin cloud mining contract factored in thus the asking price of 13 Burstcoin per share.
If all 20,000 shares offered are sold and the asset is able to purcahse 1.5TH/s to go along with the .5 TH/s already running. My estimate on 2.0 TH/s is about .0042BTC per week. Of which .00336 BTC will be paid out in dividends which comes out to about 4,767 Burstcoin to be paid out to 24,801 shares a week just from the Genesis contracts.
The 1k assets held of CCM100 is paying about 5 Burstcoin each payout.
Excited to see what our first payout will look like from WorldMine.
After purchasing the Genesis contract of 1.5TH/s their should be about 10,000 Burstcoin left in the assets wallet. With these extra funds I will place half toward acquiring more CCM100 and the other half toward acquiring a new holding position in SoCalFarm. If all offered shares do not sell out before the fund is ready to upgrade the asset will proceed to upgrade the Genesis contract in smaller increments. While also adding to Burstcoin mining asset holdings with leftover Burstcoin funds from the purchase of Genesis contract upgrades. Dividends will be paid out in full to asset holders even if all offerd shares do not sell. Dividends the asset pays out to itself will be reinvested in Burstcoin mining assets.
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Do not worry I will not post this here every single day. Just for the first week or so to show how this asset will make Burst.
Valuation for end of day 2/5/2017
$1,015 U.S/BTC 88sat/1 Burst Copper lb/$2.20 U.S 500sat/1 gram 7 Burst/1 gram
Copper - 173,607 Burst
Burst Mining Assets - 48,010
Burst Dividends Received - 15
Burst Wallet - 6,340
Burst Long Term Wallet - 0.00
BTC Exchange Wallet - 0.00
BTC Long Term Wallet - 0.00
Genesis Mining Wallet - 16,995 satoshi = 193 BurstLiquid Value of Copper Backed Cloud Mining - 228,165 Burstcoin
- 9.19 Burst per share
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WorldMine made a very nice payout last night. 129 Burst to our 38,000 Burst investment.
*notes
102,777 Burst invested in Genesis Contract = 193 Burst 1st day = 1,351 Burst wk
38,000 Burst of WorldMine = 129 Burst wk
102,777/38,000 = 2.7 2.7*129 = 348.3 Burst wk
Just notes I do understand that WorldMine has 100% more value than a contract.
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This post is deleted!
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Was looking through the forum and their was a rant someone posted that somewhat inspired me. The rant was about people coming here with nothing but a idea and launching a asset. I realized I feel under that category the way things started out here. Therefore I bought almost half the shares of Copper Backed Cloud Mining to get this thing going.
With the funds from the sell of shares Copper Backed purchased
1,020 shares of WorldMine
600 shares of CCM100
3,675 shares of SoCalsFarmI feel like this provides a solid foundation for what I envision building here.
Soon I will be ID verified and I will do another share release down the road but with a different twist.
Every share will still be backed by one gram of copper however for every share created their will be 2 grams of copper to go into the holdings. With that extra copper what I'm going to do is put a sale target on it two ways. One target will be copper @ say $3.50 lb U.S and the other sale target for that extra copper will be something like Burst @ 55 Satoshi. So if those numbers hit either way that extra copper will be cashed in converted to Burst and distributed evenly to holders.The first dividend for Copper Backed will be processed this weekend. Looks like it will be about 1,500 Burst distributed evenly to the 24,801 shares.






