[ANN] Futuros
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@haitch It was calculated in burst from the beginning and we were assured that it will be like this. As I mentioned earlier, it's still great offer but it's different asset as rules changed and ROI is calculated differently. Because of that I believe they should pay full refund to harrygon if he doesn't wish to be part of this new asset.
"anyone who thinks logically knows that it can't be in Burst" - this is how it was done up to last div. This is also how any other asset calculates ROI. If I invest USD in something I don't care about ROI in VND. I want my investment to return USD isn't it correct? How is it illogical?
Harrygon isn't greedy as he protects his investors from this dick move you made. So at least be fair enough to return him his investment.
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@haitch i understand the problem but if i even pm him and ask about a year and he cant hold it even 5 weeks sry but this is just a wrong calculation or a lie. i cant symply invest in gpu mining assets because of the problem of price increase.
this is just not a serious business if u do stuff like this.
i know that i have more money as before btw im not here to get rich its more like a hobby. but i pay my shareholders in burst and launch a buyback in burst and because if that a cant hold my divs not dont even think about a buback. this is what makes me angry.
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@Hyzi0 From the OP:
"Our ROI is calculated in USD because the majority of our profits are not in Burst currency. There is a stable price 0.25$ per share and we update the burst price every morning to make it fair for all investors."
If you invest US$100 in an asset, and get paid back US$5 every payment, you're getting your 5% ROI. If it was 5,000 Burst 3 months ago and now it's 2,000 Burst, you're still getting the same return on your initial investment in US$. For an asset that is not earning it's income in Burst, to expect the same ROI in Burst is unreasonable. If the price of Burst collapsed, would you be happy to get 5% of your Burst investment back, or would you rather have the 5% of your US$ investment ?
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@haitch thanks that you understand, I have changed the first post to let people know before they invest from now, so that sentence wasn't there before, we are very sorry and understand the first investors, but now we can't buy back all the shares for current price as it would be approx. 7200*0.42 = 3000$ and we have received only 1300$ (which we have sold to btc and bought new hardware) from our investors here ( and we are willing to buy it back for 1800$) don't worry in the future we will try to get you back your fictional speculative market profits back somehow, can't do it now
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@haitch
It was added to OP last week, wasn't there from the beginning.
I know how it works and I would have no problems with it if it was like this when they started. I don't even care that much now as due to this problem my shares are worth ~40$ less. I simply see how this situation affects Harrygon's asset(that I'm not rly invested in) as he had 4100 shares. I also feel a bit guilty for recommending this asset to other ppl cause if they invested they might feel like harrygon.
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@babelis It's ok rly as I understand your situation. I know how it is with mining and I expected drop in ROI. I don't rly need buyback and will buy more of your asset once burst has a bit more stable price. I still think you do great job and created unique asset that I want in my portfolio. Just please make some deal with harrygon so he doesn't have to close his asset.
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@Hyzi0 Didn't know that the disclaimer was added, but it doesn't change the fact.
Investors are still getting back the promised 5% ROI, just evaluated in USD. If the value of Burst had collapsed instead of rising, would you want the 5% of your investment in Burst, or in USD ?
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@haitch The thing is, if burst price collapsed we wouldn't be discussing this as ROI would still be calculated in burst.
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@Hyzi0 but if the price of Burst collapsed you'd be getting significantly more than 5% of the Burst you invested, or Babelis could just pay out the 5% worth of Burst and keep the rest for himself.
Assets that generate their revenue in Burst, like Mining Assets, are going to generate a consistent number of Burst. Assets that generate their income in other currencies will also generate a consistent revenue, relative to the price of the Burst.
Lets say you wanted to lease some server space from me at an agreed $10/month. At the time we made the agreement Burst was at 30 sats and $10 = 20,000 Burst. But now Burst is at 300 sats - are you willing to continue paying me 20,000 Burst ?
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@haitch As I already said I know how it works. I know it can be beneficial if burst's price drops significantly. I always knew that if burst price ever goes high all gpu mining assets will have problem. Thus I don't need refund as Futuros most likely will always have better ROI then other gpu assets.
The only problem I have is that they promised harrygon MIN 1.25%/week and it was logical for him to think that it will be in burst as nothing was mentioned before about USD. In addition everything since last week was calculated this way. He is obligated to pay his shareholders 2%/2weeks and buyback everything @150%. So the only solutions I can see is futuros gives back whole burst that harrygon invested or harrygon will do the same - give 150% but in usd instead of burst (7.5 burst instead of 15). I'm sure that after that move there would be a lot more ppl that would see problem in changing rules after few months.
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@Hyzi0 Maybe it's just me, but I'd have assumed everyone would have realized that assets that don't generate in Burst would have an ROI relative to the price of Burst.
Why should he have to buyback at 150% of the buy price?
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@haitch It's in his OP
https://forums.burst-team.us/topic/4563/harrygon-s-assetmine-asset/2Of course ROI would fluctuate with burst value change. Everyone would expect it if they didn't put MIN ROI and ensured harrygon in PMs that they can handle it.
Now as earnings drop it's obvious that they can't so I understand changing the rules and buying back shares of ppl that want out. I just think that they should cover at least harrygon's loss caused by burst price increase as he talked with them before investing ensuring that they can handle it for at least a year.
All of this could be avoided if done earlier/when burst was low. Now if they won't pay harrygon's full refund he has no choice and has to do the same.
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@haitch said in [ANN] Futuros:
@Hyzi0 Maybe it's just me, but I'd have assumed everyone would have realized that assets that don't generate in Burst would have an ROI relative to the price of Burst.
Why should he have to buyback at 150% of the buy price?
It's indeed in the OP of assetmine, which is a great stable investment for people who believe in burst.
However it's kind of the decision he made regarding his asset. by investing in a GPU-mine based asset he would benefit from the fact that those returns would increase faster than the raise of the burstprice. Burst however had quite a big boost lately and that kind of messed up this part of his plan. he still has others in his portfolio, but this made his business-model take a big hit.
Ideal for his asset's plan was for the burstprice to go down.
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@babelis i swaped my assets with haitch so u dont have to buyback alot of shares
harry
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@harrygon alright then, the buy order will be placed soon
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@haitch Thanks for solving this problem!
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yes thanks haitch, the buy order is up at 0.25$ for 5 days, feel free to sell your shares if you want to and sorry for the potential loss
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@babelis @Hyzi0 As I posted above, I understood the guaranteed ROI would not be based on the price based in Burst. So I have no problem with the asset and am happy with the payouts - I'll be holding them.
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Divs
Assets sold - 6607.1 * share price - 0.25$ = 1651.775$ ---> weekly ROI 1.45% = 23.9507375$ = 2550 BURST```
Futuros (1605211475111316015) Total found assets: 1000000, Assets to be distributed: 6607.1 Summary of proposed distribution of 2550BURST to 43 Based on asset holders at timestamp 87079527 (Sun, 28 Aug 2016 08:45:27 GMT) ---------------------- Number of assets, Account, Payout amount 5400, BURST-5LW6-657H-WXHL-49BCP, 2084.12162673 562, BURST-Y4UV-VYTT-Q3EK-A4TEE, 216.90302856 298, BURST-X724-7N6K-RQA7-866M6, 115.01263792 200, BURST-44FY-YB7W-BDCJ-32ECU, 77.18968988 50.1, BURST-NKUQ-999W-CV88-2LARZ, 19.33601731 25, BURST-4GT7-QLA2-FLDA-44EMT, 9.64871123 17, BURST-HTFF-7PFC-5PNF-7E884, 6.56112364 10, BURST-4WAN-VXS8-Q9SY-B3F3D, 3.85948449 10, BURST-9UCW-N7RK-ZNNN-HQ3B4, 3.85948449 5.1, BURST-M3VQ-8YBL-VET6-BF4F2, 1.96833709 5, BURST-5YBX-W97K-PEHB-C4XPX, 1.92974225 3, BURST-MU3B-89RM-YYSW-9F8D5, 1.15784535 3, BURST-MYVV-Z3W6-6JXT-FDE6T, 1.15784535 2.3, BURST-D6NX-Q5KG-5UZ7-A2LLV, 0.88768143 2.1, BURST-RD3G-FELL-GJND-4NQW3, 0.81049174 2, BURST-K6VZ-WS7K-2FTP-HMUW6, 0.7718969 2, BURST-JJGJ-UXYK-DWM7-7RB5X, 0.7718969 1, BURST-WWA9-CMQJ-ZLRD-DLUUY, 0.38594845 1, BURST-84BD-SN8K-8ET6-HRJN7, 0.38594845 1, BURST-YQFX-X5K7-UCER-8SMMW, 0.38594845 1, BURST-E2U2-JYZ9-XSDC-6NGDF, 0.38594845 1, BURST-4FWQ-85G6-EHQQ-6T27Z, 0.38594845 1, BURST-N6MK-YHKS-NLVR-HMHLV, 0.38594845 1, BURST-HEES-AYVF-MTK6-FVYBR, 0.38594845 1, BURST-BRUQ-MY7L-UTL3-FH3AX, 0.38594845 0.3, BURST-L4BJ-LLHL-S8UB-HWXZV, 0.11578453 0.3, BURST-2T9H-6DPY-7TQH-B5W7Y, 0.11578453 0.2, BURST-ZAJT-EYMU-LPUL-9TP4V, 0.07718969 0.2, BURST-M2F3-AQ8V-5VRD-3BPWW, 0.07718969 0.2, BURST-NNK7-5EKB-49CK-HN9SG, 0.07718969 0.1, BURST-KZQV-7L7K-89K6-HXFGP, 0.03859484 0.1, BURST-4FM8-2MJ5-NL29-59A6S, 0.03859484 0.1, BURST-DGDQ-GN55-B7F3-GE3TH, 0.03859484 0.1, BURST-VEFU-NW9C-BK3S-4X297, 0.03859484 0.1, BURST-LACW-VZ2A-YXA4-36VYU, 0.03859484 0.1, BURST-YWAX-PYAA-XX5G-D9JPP, 0.03859484 0.1, BURST-4CTH-XEGM-5GXG-CYEE9, 0.03859484 0.1, BURST-FK9X-CMV2-4Q7Q-C4P4S, 0.03859484 0.1, BURST-8PXZ-YZPN-8GBV-EUXMB, 0.03859484 0.1, BURST-QYVC-NLY4-6M5Q-DD5KT, 0.03859484 0.1, BURST-UDK7-D5Y3-MR94-9UQS9, 0.03859484 0.1, BURST-J7U6-TV88-DJX3-9BYB4, 0.03859484 0.1, BURST-K48W-F6TF-LQJW-FHR6A, 0.03859484
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@babelis Nice payout. Which is why I'm holding, and will be buying more when funds available .....
