Harrygon’s assetmine asset
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@keyd0s well selling assets atm is bad but we could release the escrow to sell at the peak? but that is not my decision, and i think haitch is unable to connect to his wallets.
im thinking about to expand the miner, but i'm not that sure with the returns.
the assets recovering quiet good i hope they hold their trend (interessted in hs div's)
in best case scenario we can stick to the plan again, in worst i need to add new income streams and/or lower the payout. i think it's best to wait another few weeks till burst is stable and all the assets pay more or less stable div's, so i can do further calculations, this is almost impossible atm.maybe i can pay a dividend round next Friday but that's not for sure.
hope i could answer u'r questions. cya harry
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@harrygon Oh no I definitely didn't mean for you to sell your assets. I agree with your statement that you should keep those for the divvies. I understand you wanting to wait a while before making final decisions. Let's see what the future brings , fingers crossed.
Cheers
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@harrygon Just thinking aloud here, but I wonder if it's time to move this Asset on a stage?
Seems very difficult to know what the price of Burst is going to do, we seemed to have established a solid floor around 400 at the beginning of June and have climbed steadily since in the last Week and are currently moving between 600 and 700.
Where we go from here and where we will be in 12 Months I just do not know, could be 400, could be 1000?
I am still very worried about Assets in general as something to do with my Burst and actually think the "apparently very low prices" of even the pure Burst related Assets such as Mining, are not actually bargain basement but reflect a more realistic price than we had before the big rise back in May?
My feeling is that you should restart Dividend payments, perhaps 50% of Dividends received as a Dividend and the other 50% into the Buyback Wallet?
The problem you / we have is that the Bulk of the 1 Million Burst was put into Assets and to be able to execute anything like the original plan, you need Dividends to return and Asset prices to rise,. Personally I do not think that is going to happen and do not think that for the moment you should be buying More Assets.
I am liking the Mining returns at the moment, and think you should do the maths on expanding your Mining, particularly to the point where your setup can accept additional TB without any other added cost.
Seems a pity to not have the Buyback Burst working for us so perhaps the Buyback Burst should be moved to Poly, exchanged for BTC and put into Lending as at the moment you can get around 1% a Week. That is where I for the moment have put and am putting all of my Burst.
All the above just my think and type thoughts, what do other people think?
Rich
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@RichBC I'm not sure putting it on polo to put into lending is a smart move. This asset is based on burst and pays out that way. changing the burst into btc leaves the possibility to make a lot more if the burst price decreased and BTC price increases, for sure. but it can also make it go entirely to sh** if burst continues to climb. Plus the whole fork thing of bitcoin that's supposed to happen in august can make for an unstable market. btc will probably continue to climb, but I don't think the lending reward is high enough to risk it.
I think it's more of a gamble currently, instead of a way of getting safe revenue.Cheers
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@keyd0s said in Harrygon’s assetmine asset:
I'm not sure putting it on polo to put into lending is a smart move
Yes agreed we have enough risk and uncertainty already, but just put the thought out there for comment. It's where I have chosen to park what was most of my Burst for the moment, but that is my decision and I think around 1% a Week is not bad.
Rich
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@RichBC ur right it's time to move on.
@all
after the last few payout from hs (last 1, 2 weeks around 6000 burst), it was clear to me that this asset needs an whole new structure if i want it to survive. and i really do. so i broke my brain in the last 3 weeks to come up with a new strategie (lost my job in a result of that, just if some people still think asset holders are all scammers and egoists:)). i have 2 ideas i wanna talk about.first 1
i will try to sell a part of the asset shares in the portfolio as high as possible, convert it to bitcoin and set up a miner. instead of just getting dividend's. i f we can make 200k liquid that would give us around 100tb of mining power. my calculated returns 9-10k burst a week. .biz calculated returns 13k burst. that would bring us back on track, but we will loose a part of the asset portfolio, and for sure we would have some losses.second 1 (kind of the second stage of this asset, planned but wanted to launch after the buyback)
i will release another 200 k shares for 5 burst each 100k share goes to my share holders (for free) same amount they already have. 100k will be sold on AE. buyback will be canceled. the divs from initial release will be lowered by 50%. i give away the 100 k shares to make sure everyone will get the same amount of divs as they get before, and with the other 500k i will also invest in mining gives us arround 200 tb and more aprox return (source burstcoin.biz) 25 k weekly. the buyback will be used for buyback after the assets are sold. it will buyback the shares for 5 burst and all divs received will also be used to buyback shares and so on.In bouth of this scenarios i need to calculate in bust per usd so if there are significant rices or drops at burstprice i need to ajust the div's and the buyback or we will run into the next big problem if burst have a bump again(really dont like that, but i think there is no way arround it)
now the big question for me still is what my pc can handle. i have an intel i7-4790 a ge force gtx 770 and 16 gigs ram.if someone can help me with that that would be awesome, i really not a hardware guy :)
what do u guys think about this?
cya harry
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Lost your Job in Switzerland where average salary is something like 2,5K € a month for a 200$ asset ?
Thats the Spirit !
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@Marc lol aprox 6 k ;)
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Average salary € 6K month, omg !
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@harrygon kind of a hard decision for sure. Personally i dont like selling the assets to buy some harddrives. As for one, selling assets is really hard nowadays and the losses will be big like you said. Secondly because mining will give deminishing returns in the long run in terms of burst. As more people join and the block reward goes down it can be hard to keep up the 10k ish a week that was calculated. If this is even a legit speculation. Not mentioning all the effort that has to go into plotting 200tb of drives.
Mining assets like ccminer are quite cheap as well if you want to get into mining some more.
I really wouldnt be able to tell you with 100% certainty what i would do if I was in your place.Also really sorry to hear you lost your job. Hang in there eh !
Cheers
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@keyd0s thx for ur reply and sorry for the late answer
sure thats are legit calculations based on my 10 tb miner. i had a quick conversation with cc miner (to get the numbers confirmed) his 100 tb miner gets even more. the problem with mining assets is that the price per tb is way higher than if I buy and run the hdd's. space is no problem and hardware is actually cheap here. i can plot drives on at least 3 pc's maybe more.
i don't like to sell the asset too, so i think i will go for option 2. i will come up with an ann the next few day's with more detailed informations.
cya harry
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hello guys
I think there will be a new tread needed with the new op but for now i post it here.
as u may know i always wanted to backup this asset with a big miner, thats why i launched the asset mine asset to build up a nice asset portfolio to cover the div's when the miner is built. but u all know that didn't go well, cuz of the massive rise of burst. with the really low returns i get, i won't be able to hold the div's, not even think about a buyback. so i need a new plan to get the assetmine back on track.
pre ann harrygon's assetmine step 2
there is still the 1% div weekly. the buyback as in the op will be canceled, i will setup a buyback wallet with the funds from escrow after the sale is done, it will buy back the shares for 5 burst each (starting price). a new asset will be issued with 500k shares 300k will be sold 200k will be held for future projects. all assetmine assets will be replaced 1:2 so everyone still gets same div's and same asset value. 100k shares will be sold for 5 burst each. with this money around 7500usd i will build up an 250 tb miner thats 30 usd per tb for u guys i will cover the server and wire stuff. everything u invest goes straight to mining.(may i should sell the shares a little higher? don't know jet).
over the time the miner is in building stadium i will payout 80% from mining and asset income as dividends. and put 20% on polo and do lending, i'll come back to that.
at the current network size and block reward i can expect a return of around 2300 burst weekly plus 3000-5000 from assets. i think that will decrease until the miner is built. so I've expected a weekly overflow of 5k burst. this 5k will be splited like this 50% reinvestment mining power(at least 4 tb monthly, current market price).10% power consumption if its to less ill cover the rest, if its to high im a lucky guy:). 10% buyback wallet. 5% investment in new assets. and 25% goes to the same lending acc as before i want to use this as an safety buffer a growing amount of money to cover future problems like the network is growing to fast or we need a bigger buyback a server does gown something like that. there are still many unknown factors a can't really calculate, so i wanna reserve the right to do further adjustments to the weekly returns. but thats not the plan.so what u guy's think about that lets talk
harry
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@harrygon I will think on it overnight, but my first reaction is that this is a Million Miles from the simple buy and forget Asset based Asset which would double my money in 50 Weeks.
Can you please choose some assumptions and show some maths on the mining side of things to check that it is profitable over time. The network size is growing rapidly and reward is reducing?
Also it's a big stretch from the current size of your miner to 250TB. I assume you have read / followed some of the ccminer thread to get a feel for what is involved? Are you up to creating and managing this size of Miner?
What will you do if the new shares do not sell?
Rich
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@harrygon Eventhough I like your new idea I'm sure that a lot of ppl will be disappointed with your asset as you changed the core of it.
So do I understand correctly that we will swap assetmine for new ones that will be bought back @5 thus our shares are still worth 10 ?
When will you proceed with asset swap?
This 1% div weekly at the beginning of pre ann is about our old shares - assetmine and new shares will receive 80% of total income?
You should back it with some math and if I understood everything correctly then it's going to be great asset and I don't mind at all those changes^^
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@RichBC it's totally different i know but i don't think the assets will recover. that's why i swap 2 for 1 so everyone can sell their shares at the same amount they bought.but i really don't want to loose any of my shareholders.
sure i will come up with it tomorrow.
well i never did it before but i have 1 good friend who currently works with server. and another who did monitoring for years, i think i will be able to run this kind of server. i can plot a few hdd's and test the read time before i actually buy the server.
i don't know i just don't have a better idea to go forward with the asset. i would like to have a better option.
harry
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@Hyzi0 u get 2 new shares for each assetmine share. i will inform here about the asset swap don't know yet when it will happen. at the start all assets will receive 80% of the income as soon the incomes from miner reaches 1% weekly it will stay at 1%, the rest will be reinvested like mentioned above.
harry
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@harrygon But if you double the amount of shares of current owners, and half the dividend per share you still end up paying the initial asset holders the same amount of 2% per share don't you, since we get two 1%'s now. Are you sure you can keep that amount up ?
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@keyd0s You will receive 2x 0.5% as new shares are worth 2 times less then the ones you got^^
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@harrygon My biggest concerns over the proposal are your inexperience at running a large mining farm, the time it will take to get the farm up and running, uncertainty over the profitability of Mining and weather the new shares will sell.
I am not in any way voting for this but I think you should consider any radical alternatives against the option of winding the Asset up, so please present some maths on what this would mean?
Rich
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@keyd0s ur right its still 1% weekly means 15k divs weekly (before 10k)
atm 250 tb = 24000 burst weekly + 300 divs = 27000 burst weekly. i will come up wit better math tomorrow.
