<PREANN> Gib's mining farm

Gibsalot

@HiDevin im willing to escrow 50% , i feel even that much is high and will limit initial growth of the asset but also feel it needs to be that high to instill trust that 50% is locked into a set Burst amount. still need some one who is willing to handle the escrow sugestions would be nice. i have reached out to someone that i feel is a Trusted leader in the community and capable of handling the escrow waiting to hear back from them atm.

HiDevin

@Gibsalot haitch or dawallet?

Gibsalot

i just heard back and @haitch is willing to take on the Escrow for my asset. at this point we need input from potential investors as to how long the escrow should be held

HiDevin

@Gibsalot I feel that I would invest in this asset, but to me I would hold for around forever, and make escrow a part of the payments like Socals, or we can hold it for about 6-14 months for safety and growing reasons.

IceBurst

I think personally people are starting to get carried away with escrow. I understand the purpose but Gibs has been around a long time. I suggest a rolling escrow of 3 months, meaning on month 4 the 50% goes in but 100% of month 1 is released, mining rewards will be down 15% by this point and the escrow amount will reduce over time.

-IceBurst

HiDevin

@IceBurst yea, gibs has been here for a long while, everytime I think of a long while, I think of Jervis and how much I loss from him, but I doubt gibs will pull that crap

edit: I would personally go with @IceBurst suggestion sounds more reasonable than mine.

Gibsalot

placeholder for asset thread created.
asset wallet and perpetual growth wallet created
asset created
Escrow holder found
some Burst mining /pool backed assets i had sent to asset wallet for start of additional revenue generation
Plotting has started
current debates for structure of the Escrow are ongoing
i will give it some time befor releasing asset ID and placing shares up for sale to see if any debate happends on non escrow issue's

current asset backings standing

21TB being plotted

bursity X1

CCM100 X100

CCminer100 X100

Lex4all X100

Newminer X1000

SatoshiMT X1

Socalsfarm X500

V2pool X100

haitch

@IceBurst I like the rolling escrow idea, but would make two tweaks to it. Most of the escrows I've been managing haven't been based on calendar, but on tranches of shares. eg You create an asset with one million shares, but sell them in batches of 50K. After each tranche sells out, that's when the funds go to the asset owner and long term Escrow account. It could be modified to do it calendar based though.

Also, rather than create the overhead of the Escrow manager having to track the amount escrowed each month, from month 4 onwards 1/3 of the Escrow gets released back to the asset owner prior to the current months sales being added to the escrow account.

Thoughts ?

Dillion

I want to see a asset where the escrow is held in buy back orders on the exchange.

this will prevent the asset from ever dropping to 0.
investors are not held hostage and can get their 50% insurance whenever they'd like.
This eliminates having to trust someone to hold the escrow.

I have been doing a lot of thinking last days..... Say the asset issuer is trying to raise 500k coins from issued assets.......Here my crazy idea sell 500k shares at 10each but place a buy back order of 9 coins each for every single share as the escrow. The most any original investor can lose is one coin per share. Its a win for the issuer trying to get 500k coins and for the investors who don't want their shares to lose value......jus some thoughts from my crazy mind.

RichBC

@Dillion Like the idea of the escrow being in Buy back Orders held by a third party, perhaps at multiple prices, and perhaps the price needs to be adjusted over time according to some formula?

The idea needs however to be analysed carefully first to ensure that it does not have some failing under certain circumstances, or could be abused in some way?

Rich

Dillion

@RichBC me too i think its the best way to go. Wish I would've done my small asset this way however these thoughts have only come to me after watching all the other assets flirt with 0 liquidity. We see the effect on the AE with Burst going from the 150sats range to 500. So what happens to the AE if it runs from 500 to 2k? buy back escrow should be easy, convenient and successful. If I buy 5k share of Gibaslot with 500sat burst and burst runs to 2ksats I want to be able to get out even if at a loss on amount of coin. With someone just sitting on the escrow coins no one can get out. sorry to ramble on so much this something I have become pretty passionate about..

Gibsalot

@RichBC i would be ok with that , maby delagate a % of the escrow to set a low buy order in the AE so people can cash out if they choose if all 50% was dedicated to this there would be much less growth of the asset after it sells out. and shares sold into that account can be (burnned) not included in Div payout's as well ......... my only concern would be how much Haitch would have to manage on his end as the escrow holder. i dont want being the escrow holder to turn into a full time job managing it.

Dillion

@Gibsalot
If you do a escrow in buy backs no one needs to hold it. Now nothing is stopping you from canceling those buy orders so that is where trust comes in. We have to trust that you'll never cancel the orders. It's a fine line but I'm glad you see where Im going with this.

Gibsalot

@Dillion this is where i would still use Haitch as escrow holder ... as he would place the buy back orders with the escrow fund's so i cant just cancel or change the buy back price

Dillion

@Gibsalot right......also it shouldn't create a lot of extra work....as investors decide to get out and sell into the buy backs all you got to do is exclude the wallet address holding the buy backs from receiving dividends.

Gibsalot

my proposal would be this 50% of share sale funds sent to escrow, held for 3 month's each month after the 3 month hold 50% of the held escrow fund's be used as buy back orders in the AE shares bought by that account will be (burned) , the remaining 50% be sent to the growth wallet to further grow the asset

Dillion

I hope im not trashing your thread with all my crazy ideas but check this out.

Shares that are bought back do not necessarily have to be burned.

Instead of holding coins hostage for future upgrades you could just reissue shares that were bought back. Do not like investors escrow coins being held in the name of future upgrades.
I feel if the asset isn't making enough on its own to set a little bit of earnings back for future funding then something not right..
Sorry again to ramble good luck gibs I'm sure you'll do great

Gibsalot

@Dillion no thats what i want input from the community so i know that when i launch it will be what the community perfer's the only thing i will not budge on is that it is a Burst Mining asset that will have both it's own mining power as well as hold assets that generate revenue from Burst mining or Burst pool fee's.... i want it to stay 100% on the Burst block chain for a stable Burst value not subject to up's and down's of the Fiat value of Burst.... in theory lol i know that people will liquidate assets even ones like this that shold hold value when burst go's throu large pumps

iKnow0

@Gibsalot do you have any spreadsheet earnings projection? by month for the next 12 months...

Gibsalot

@iKnow0 no i do not sorry
im not vary handy at making spread sheest and stuff .... i tend to keep piles of scrap notebook paper and sticky notes of daily stat's but never compile them lol