Harrygon’s assetmine asset
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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.
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@RichBC so ether liquidate the asset or payout really small divs.
liquidating would give around 400k burst means 4 burst per share buyback.
income is around 3200 burst weekly =0.032 burst per share weekly without considering an buyback.
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@harrygon Thank You, you might want to expand on this a little? I think it's important for Shareholders to have a no risk "Bird in the hand" offer against which to consider the radical untested alternatives.
Rich
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@RichBC sure u will get all that tomorrow just want to give a little overview. ok with that?
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@harrygon Yes absolutely, as I have said all along, take your time, think about things, get opinions from shareholders. This is a difficult situation, let's make the best decision we can.
As an aside I think that 2/3 of the Asset are held by me, haitch and focus. I am making inputs, perhaps to many, haitch is keeping quiet and focus does not post here.
Would be good to get some inputs from the other 1/3.
Rich
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@RichBC Haitch only got home from work - long day. I'll consider the proposed changes, too tired to make any snap judgements. My initial gut feeling was that a well run large capacity miner would add value to the asset: My quick calcs: 250TB = ~ 25K Burst/week = 0.25 Burst/asset share week = 13 Burst year/Asset.
One thing I would suggest, is learn from cc's issues running a big farm based on multiple external drives. Going the internal route makes life much easier. I'm building another big self contained miner - 192TB, all internal, that can then be expanded with SAS expansion chassis holding up to 45 drives. Over half a petabyte, all internal, all self contained. The initial 192 TB is going to cost about $6,200. $2K for a server chassis with 24 drive bays, server based quad Xeon CPU motherboard, 4 * 8 core/16 thread Xeons. 128 GB RAM, 24 Port SAS controller. And around $4,200 for the drives. Using server parts means the whole system is designed to provide reliable 24 * 7 usage. And with the number of cores and threads, and the RAM, I can CPU plot multiple drives simultaneously.
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