Why are people so obsessed with assets?
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All the time in every single Burstcoin community I see people talking about assets and promoting various assets and being so excited about them.
I honestly don't get the point of assets.
I experimented and purchased about 2500 BURST worth of various assets which were suggested by the community on multiple occasions and now that the price of BURST has increased the share value has decreased dramatically, by 70% in some cases! Yet the pay out has been the same or lower for me, which I am not too happy about.
Another issue is all this drama going on with this coin and assets, which means that sometimes the dividends don't pay out on time or the coins get stolen. I seriously can't be bothered always being up to date just to be sure that I am not getting scammed out of a few dollars every week here and there.
And finally the ROI is too small and unstable from my expereince honestly.
I fully understand that Burstcoin is unique and forward thinking in comparison to other crypto's with the whole asset exchange and the (imo fantastic) wallet.
I guess the point of this topic was for me to see why do people bother purchasing assets and have I been doing something wrong with them or do people just bite the bullet and go along with it.
Personally I have decided to just sell everything off and just salvage what I can and be happy knowing exactly how much I have and that I can sell my BURST anytime I want.
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For me the asset exchange is the heart of burst. without it I probably wouldn't be here at all. Maybe just mining and selling it straight off to polo cause what else would I do with it?
Almost all the asset's you can find in the exchange is a project of a community-member who do some absolutely great stuff. From giant mining operations, to online casino's, to advertisement all the way to growing nuts. By investing in these assets I feel like I'm a part of that project which makes me feel quite proud as well.
Profit-wise you are way up in fiat value. but indeed not in burst which you could view as a loss. But it also means that we as a community were able to get the price of OUR coin up, which I view as an accomplishment which we all did together.
If pure profit is what you are after than asset holding is not for you. asset trading could be an option and you might want to look into that. These asset's are mostly for long-term support which will mostly be rewarded in the end. and yes I know, waiting 2 years to reach ROI is a LIFETIME in crypto. but hell my day hasn't come and don't think it will any time soon. so I choose to spend some of that lifetime that I have to support this coin and it's members.So yeah, I think in order to hold these asset's you need some dedication to the cause.
But this is just my point of view :) I hoped it helped
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@keyd0s said in Why are people so obsessed with assets?:
For me the asset exchange is the heart of burst. without it I probably wouldn't be here at all. Maybe just mining and selling it straight off to polo cause what else would I do with it?
Almost all the asset's you can find in the exchange is a project of a community-member who do some absolutely great stuff. From giant mining operations, to online casino's, to advertisement all the way to growing nuts. By investing in these assets I feel like I'm a part of that project which makes me feel quite proud as well.
Profit-wise you are way up in fiat value. but indeed not in burst which you could view as a loss. But it also means that we as a community were able to get the price of OUR coin up, which I view as an accomplishment which we all did together.
If pure profit is what you are after than asset holding is not for you. asset trading could be an option and you might want to look into that. These asset's are mostly for long-term support which will mostly be rewarded in the end. and yes I know, waiting 2 years to reach ROI is a LIFETIME in crypto. but hell my day hasn't come and don't think it will any time soon. so I choose to spend some of that lifetime that I have to support this coin and it's members.So yeah, I think in order to hold these asset's you need some dedication to the cause.
But this is just my point of view :) I hoped it helpedI agree. I started an asset with a 1TB HDD and am now mining 33TB. Without people who understand that most assets are long term the AE would die.
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I like to compare assets to non-crypto investments. Outside of crypto there is nowhere you can get a decent ROI unless you have stacks of money to invest, thus effectively favouring people who are already rich, corporations or professional traders. This is the beauty of crypto and assets, where anyone can participate, even with small sums, and the (fiat) ROI is better. Being able to use assets on the Burst blockchain also means that Burst is more than a store of value, new value can be created as well.
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It all depends on how assets are used as well.
You can use them to earn dividends and invest in the long term, you risk falling prices. Or be attentive and dedicated to buying and selling.
But it is clear that scammers are not a burst thing, there are scams in bitcoin and in other currencies.
If we compare it with real life this is neither more nor less than the stock market, and there are many more swindlers in the real world only that are white glove, there is only to see the last global crisis probed among others by several Large American banks.
Here in Spain, they removed a bank to be listed on the stock exchange, but to do so falsified the economic accounts and in the end investors lost a lot of money
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The thing you've mentioned with the massive drop in price of assets, was all due to a massive pump in the price of the coin, which over the whole time the coin has existed, nothing like it has ever happened before. This pump caused massive chaos on the asset exchange causing people to worry, and thus dump assets and get into the coin for the huge basically overnight price increase.
This, is something that a few of us attempted to stop, and failed.
This is something that we, the long-term holders of BURST, didn't want to see happen, because we realized if a pump like this were to occur, the assets would suffer in the short term, and the large asset holders may lose value temporarily. Also, the asset creators would not be able to grow their assets as fast as the price increases.
Thus, once again, another reason, that pump n dump schemes like what we saw recently, are BAD for coins, especially ones with asset exchanges internal, and doubly so for ones that do not have any other method to sell coins, aside directly to the coin they're related to.
However, this doesn't change the fact that for long-term, holding LEGIT assets, will still win out. If the legit asset creator is dedicated to their project, they will continue to grow the asset to whichever climate, and the price of the asset will follow.
For instance, myself, I will be adding quite a lot more hardware, more to the trade funds, and various other methods of generating wealth for the my assets. This will cause the dividend payouts to go way up, and thus the price of the asset should follow. This will mean that it is only a temporary lower price for the asset, if all plans go correctly, which there is no reason they shouldn't.
If you take a l ook at my announcement thread, you'll see what plans I have for the assets, and you'll realize that if you were to simply hold through this storm, your value would have only been temporarily lost, when the prices of the assets come back up due to larger dividends.
I still maintain that assets are the best way to hold in BURST long term, simply due to the fact that you're gaining % every week (in most cases) that you wouldn't have been gaining without the asset.
I know for a fact that all of the people that have held my assets in particular long term, have all done very well with them, and I will continue to make this the case in the future.
Thanks!
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The payouts may seem small but on a ROI% some of the assets are killing anything your going to get out of the stock or bond markets.
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@BigBear scam all
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A lot of people are not experienced with assets that lots of them buy up and sell for much less than they paid the issuer in fear of disaster; called undercutting. Assets are a great compliment to mining and some pay weekly or even daily so if the miner goes offline the day isn't a complete loss. Its important to not undercut in fear of total loss because that's a reason for asset value declines and sometimes its because assets can be part of portfolios linked to other portfolios assets. A domino effect can occur. There are verified issuers to choose from, and non verified ones that have stood the test of time. Governments have liquidated their assets in the past in financial fear and suffered massive losses as result of limited foresight in human history. My underlining point of this post is to reinforce to persons not to be fearful and the burst system will remain stronger. From what I can gather some of these investors don't realize what these kinds of investments really involve and should watch until the excitement phase wears off and make wiser financial decisions based on researching current successful and failed assets.
