Are we ready to consider this a scam and not concerned? What do you guys think
nox
@nox
Posts made by nox
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RE: [ANN] The N.E.W.S. Asset launchposted in Concerned Assets
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RE: Jervis - NEWS Asset Scammerposted in General Discussion
@haitch said in Jervis - NEWS Asset Scammer:
@nox Jervis never appeared on the ID Verified list, not even as provisionally verified, so there was nothing to inform. Should I tell you which of the other 3,000 users here are not verified? He didn't complete the process, so the details he gave me are meaningless. For those that have completed it, I have verifiable personal information, but those that don't complete, I have nothing verifiable or useable.
I proposed making ID Verification mandatory to advertise here, and the push back was immediate and more significant than I anticipated. Reputable asset owners were going to walk away because they had good reasons not to be verified. I'm looking at alternatives, but the issue really comes down to do your own research before investing. ID Verified means something, but it's not a guarantee, and for a non-verified member like Jervis, what do you expect me to do ?
@Haitch You're replying to me but not to what I said.
If the identity is "meaningless" and "fraudulent" as you said @haitch , why didn't you make any attempt to stop this from operating on your forum?
Did you just now realize that the details were fraudulent?
Did you do any investigation to validate the information he gave you?
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RE: Jervis - NEWS Asset Scammerposted in General Discussion
What I am extremely disappointed in is that a major asset issuer, Jervis, did not finish the identity process and that @Haitch made no attempt to inform us that @jerivs could potentially be fraudulent. If the identity is "meaningless" and "fraudulent" as you said @haitch , why didn't you make any attempt to stop this from operating on your forum? Did you just now realize that the details were fraudulent? Did you do any investigation to validate the information he gave you?
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RE: Jervis - NEWS Asset Scammerposted in General Discussion
@haitch said in Jervis - NEWS Asset Scammer:
@mathew Yes, I have an address he gave me, but with no verification it could be just some random person. I'm not going to give out those details and potentially have some innocent person subjected to abuse. If he was verified, then in some time I would give out the details, but these are unverified - so not being given out.
@Haitch I respect you but you have seriously dropped the ball on this if you have allowed NEWS to operate without proper verification.
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RE: Jervis - NEWS Asset Scammerposted in General Discussion
@socalguy said in Jervis - NEWS Asset Scammer:
@nox ooh did I twist your panties? I'm sorry ;)
You are not worth my time.
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RE: Jervis - NEWS Asset Scammerposted in General Discussion
@socalguy said in Jervis - NEWS Asset Scammer:
@nox Still looking for why you think this is a scam. Is it simply because the price is cheap? lol
If that reasoning was true, then real stocks like Apple and Dell Computers would be scams as well.
Look, every Burst asset or crypto asset is high risk. To think they are safe is a fallacy. Maybe because of my background and experience, I'm ok with that and investing in risky things is fine by me. Yet calling something a scam because their shares are low is silly.
Read this if you really want to invest. Look up "the seven-year cycle" as some are saying is about done. Trump is removing restriction just like the last time. The fed is also doing some interesting things lately. And just like the last time, it's going to crash. Most of the real investors, that I know, are quietly closing up their books and getting ready for the next wave. Take this paragraph as me warning you.
Of course, you can completely ignore me and say I'm a fool. You can then invest in however you want. Safe, risky, long term, short term. Whatever you are comfortable with. Just remember, you are buying virtual, online, and anonymous currencies that are extremely volitile. In a decentralized environment. Do you still feel safe?
Oh, and I just placed an order to buy more News Asset. I know, I'm crazy. :)

WTF DID YOU JUST SAY??
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RE: Jervis - NEWS Asset Scammerposted in General Discussion
@socalguy said in Jervis - NEWS Asset Scammer:
Sorry but I'm still getting payouts from this asset? How is this a scam? Can You elaborate @nox?
Sure. The highest bid on NEWS asset is 6, where it use to be 100. So your assets are worth 1/16th of what they were before @jervis disappeared.
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Jervis - NEWS Asset Scammerposted in General Discussion
If you are not aware, as of now the owner of the NEWS asset has gone missing. As an investor of NEWS, I request that @haitch provide information for @jervis so that us concerned investors may contact him and take appropriate action. Thank you.
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RE: [ANN] The N.E.W.S. Asset launchposted in Concerned Assets
@nox said in [ANN] The N.E.W.S. Asset launch:
Hi @jervis, thank you for creating this asset. It's great to see this platform be used on a professional level. Thank you for that. Today I purchased 100k of your asset. I have a few questions:
How does the asset produce 1.81% dividend per week? What is the profit that produces ~160k gross dividend? To combine both questions to one: is the dividend payment supported by the continued sale of issued assets, or is it profit based? If the former, is that sustainable?
My second question is, as you are not a part of the Burst Team, there is additional risk for investors. What measures if any have you & the Burst Team taken to
insure this asset?Thank you
@jervis said in [ANN] The N.E.W.S. Asset launch:
Hi Nox.
To answer your question, we currently have multiple streams of income, I'd point you to our documentation page here https://news-asset.com/the-n-e-w-s-asset-documentation/ but I can quickly outline here (roughly) what the profits are, I can't give exact figures down to the last burst as everything is dynamic and I can't go through files right now.
Quick rundown.
We have burst coming in from our different asset holdings, again, the list is up there and we've put in a bit of burst on the different assets on the forum.
We're currently mining at a speed of around 600 sols/s for ZCASH, which is roughly 0.12 ZEC per day, or roughly 20k burst per day. Again, the rig is somewhere up the thread, sorry I can't find the specific post but it's there somewhere.
As for trading, the crypto markets are kind of on a downward trend nowadays and there hasn't been any major movements since the Zcash announcement, but we're making a small amount on trades here and there.
Burst Mining, we have 2-3k burst coming in from mining per day, but that's going to change soon as we have 64TB worth of drives coming in the next week or so.
As for sustainability, the profits arent guaranteed, we're not going to give out any dividend if we have a losing week and we don't use any asset purchases to payout. In fact, we're going to stop asset purchases as soon as we hit our milestone with the pool and re-assess the value of the current assets then, but at that time, dividends will continue to come from the asset holdings, zec/eth mining, trading on polo and burst mining.
N.E.W.S. is just a side gig for the team, something to do for free beer and the crypto advocacy. No amount of verifications online will ever lead true "insurance" ie: dedicated scammers will fabricate whatever identification they need to fabricate to gain trust. But then, that's what crypto is about, trust, or the lack thereof. I'd point you to <haitch> he has an insurance asset going on, you could put in a hedge there if you want your burst in N.E.W.S. insured 🙂
For us, it doesn't make sense to set aside a huge portion of the asset as insurance. Instead we are putting the burst to work by buying hardware and running them and sending out the profits as they come in.
In the end, it's a business, you guys trust us with your burst, we generate income for you, we take our cut as maintenance fees. win-win situation for all.
Happy Bursting!
NEWS Asset Team
Can't say I didn't see this coming. What's worse is that I didn't sell my shares!