IceBurst Mining Asset - Status



  • I will use this thread in an attempt to keep both investors and the general public up to date on the assets progress, dividends and any major changes to the status.

    LIVE - As promised the mining equipment is turned on and pointed at the asset wallet for BitCoin to collect and convert to Burst (12:15AM EST 1-Sept). We have confirmed that we are successfully hashing away on the alt coin block chains and have already generated our first trickles of uBTC. We will provide a VERY early update after only 5 days to provide an indication of how we are doing. What we are hoping to show is solid up time and consistent hash rates that are close to our Asset pre-release Information thread.

    Additional mining hardware has been ordered with our initial investment. With such a successful launch I was able to procure additional hashing power (hardware) sooner than expected which should arrive by the weekend. All that is needed is time to work on the equipment to perform upgrades. We have only utilized about 25% of the initial capital investment and will procure additional hardware after this batch comes online.

    Update Frequency - Expect this thread to receive new posts on the status monthly or more frequently, as we are in the infancy I expect rapid change and more posts. I'm expecting 2 or 3 update notices within the next 30 days.

    Early Stats - As mentioned before the Asset sold out the initial round in 10 hours total, there are currently 23 distinct asset holders. There are both active Buy and Sell orders on the Asset exchange. Individual shares have been purchased for as high as 75 Burst per asset (50% growth in investor confidence).

    First 24HRs of Mining Completed
    0_1472805658554_24-HrMining.PNG We are right on target (.003), and here is the supporting graph.

    If you have questions specific to the Asset please ask them here and I will answer to the best of my ability.

    -IceBurst



  • @IceBurst Thanks for the update and for me I've been buying assets when I can because I believe in this asset 110% so keep up the good work.



  • @IceBurst We all Trust you, But It would be cool if you can post screens of mining equipment device & Mining Screenshots ... Just to create enthusiasm 🙂
    I believe All Asset Issuers who have issued assets on the back of Alt Coin mining etc should do this 😃



  • @IceBurst I think @Castiel is right this could led to an increase on the assets value too...



  • First Income
    Were moving coins I guess is a good way to start today's conversation before the holiday. Here you can see our first payment to our BTC wallet that is used only for the asset.

    0_1473016418621_9-4-Update.PNG

    The money has hit the wallet and is on it's way to the exchange. The purchase will be made on the high side of the bid table meaning we are willing to pay more than anyone else for Burst but not the full ask. We can afford to do this early in the month, later in the month we will perform direct buys at the lowest rates available.

    For our first 3 days we received enough BTC to purchase about 4,000 Burst for the Dividend wallet, once I have the first burst moved into the dividend payment wallet I will post it publicly so you can always monitor the payout wallet.

    Mining Rigs - As mentioned new equipment was purchased, I have tracked down the order and it is scheduled to be delivered on Tuesday. I'll be in the shop cutting aluminum this weekend getting a rig case ready to minimize down time and have the gear online by the next weekend. We should see a significant jump in payouts as soon as this happens. I'll start to build charts by date so it's easy to see the progress we are making.

    -IceBurst



  • Update
    We are now almost 3 weeks into the asset and plans are developing directly as anticipated. In this update I will be sharing coin data and a couple of photos that show where we started and where we are going.

    Lets start with some new FACTS

    FACTS:
    5 - The number times we have been paid for our mining services.
    3,913,817 - Satoshi is what we have been paid to date
    1,169,072 - Satoshi is what went into our exchange account after transaction fees and represents 30% of the mined total
    2 - The number of times we have purchased Burst at the following rates, 63 & 127 respectively
    4,221 - Amount of burst that are in the Wallet for dividends for Sept
    849,336 - Amount of Satoshi to still be converted estimated today to be worth an additional 6,687 Burst

    This is our Current Rig which is today producing about 270,000 Satoshis a day, just slightly down from the 300K projected, this is due to an 8% dip in the coin we were mining.
    alt text

    This is the frame of the new rig (under construction), at the top those are brand new RX boards that were purchased with initial asset money. There is enough room in the rig frame to add on another card or more HDDs.
    alt text

    So you ask, what makes us better than those other miners out there? Burst is a green cryptocurrency, there are VERY few others like that. So I compensate by configuring traditional hardware at the firmware level. I know I'm sacrificing 5% mining power but in exchange for a 12% saving in power. This allows us to have higher margins. I guess you could describe us as making the best outcomes from the worst situations.

    With the recent doubling in Burst our next purchase will most likely be in HDD instead of GPU but we will let the spreadsheet tell us what is best when it comes time.

    Next update will be right around the first of the month. By then the new rig should be completed and online, probably a new picture to go with it and a new mining graph to show a higher income.

    -IceBurst



  • @IceBurst Excellent job man. Pro management as expected!



  • I love the way you are handling this asset 🙂 Looking forward to the next update. Happy mining!



  • The Elves were hard at work today..... It was a pile of sticks only hours ago.

    0_1474240744659_upload-a5bf8e56-c7d9-4853-8841-aecf766da0dd

    Everything went smoothly except card #3 didn't fire up, turns out the powered riser board was defective, time to call Amazon. Having said that we still got an 80% increase in mining power.

    -IceBurst



  • Month 1 is now in the Books and the first round of dividends will be going out tonight they are moving from the exchange to the wallet

    So the real question is: Did we meet our marks? Are we ahead or behind? What happened that we didn't expect and what was the impact. So in order I'll address them and lastly I'm going to announce a minor change. Lastly I'll provide hard numbers that support our first month and maybe make a prediction or two.

    Marks:

    • We did start mining exactly as predicted on Sept 1st
    • Our initial mining score was only slightly lower that predicted, we wanted .003 which we had on day one and we saw some drops to .0028 but for the most part we were in the acceptable range.
    • The goal was to produce 1,800 Burst a day for investors, this was calculated when the coin was trading at 60ish, we saw a drop in the total buying power because burst gained so much strength. This means investors will receive less total coins but burst is worth more so in terms of fiat currency or BTC value you received exactly the same amount
    • We wanted to hit .01 before the end of 2016. Upgrades have already been going in and we are above .007 (double our orginal power) and expect to see the .01 mark very soon

    I would say from this evaluation of the above we are on target or maybe slightly ahead.

    What happened that we didnt expect?

    • We did have a powered PCIe riser catch fire and melt, no major lost, just some down time and about $10
    • Burst doubled in value! Couldn't see that coming, while it's a great thing for burst over all I would have liked to see if hold off a little longer, however if it doubles again look at all these "cheap" shares we got.

    Minor Change:

    • When this asset was constructed it was designed with some of the principles of the banking industry in mind, namely monthly dividends. I now realize in cryptocurrency when you are waiting on a payment a month is forever, as a result I will be changing the dividend frequency from monthly to bi-monthly.

    Some Hard Numbers:
    10 - Times we were paid by our mining pool in BTC
    10,063,295 - Number of Satoshi we mined (or .1BTC)
    63 -> 127 - Satoshi is the range in which we paid for BURST
    26,907 - Burst to be paid in the dividend

    Some Predictions:

    • I do expect another increase in bursts value in the market in the next 30-60 days
    • I believe we will reach out .01BTC mining per day well before the year is out.
    • October we will mine atleast 50% more than in Sept, 15m+ Satoshi or Bust....

    With the increase in mining power we already have our first BTC in the bank for October. I'll provide another update in 2 weeks.



  • Very nice update, thanks for sharing!



  • Burst have been sent, depending on your asset counts..
    Smallest Amount sent to A Single Holder: 0.26884, BURST
    Largest Amount sent to A Single Holder: 12975.83, BURST

    Full List is here for the 23 Asset Holders.

    http://pastebin.com/sWpR8Kaq

    -IceBurst



  • Very nice presentation, thx for the payment!



  • i simply love this project and how it's done , This people is how you're suposed to present an asset and keep it on track kudos Ice



  • We are on day 5 of October as we continue to build up our mining power. Anyone remember that my prediction from 5 days ago?

    "I believe we will reach our .01BTC mining per day well before the year is out."

    0_1475677618025_upload-b7bd9497-25b2-431f-9ccb-19af77c3c2b4

    Well, I don't want to say were in the clear but here is the past 72 hours (3 Days straight). It's common practice for miners to use a 72 hour window for evaluations. We have averaged .0105; after 30 days I'll declare target achieved or shortfall.

    10 more days till our next payouts.

    -IceBurst



  • As promised we are increasing the frequency of dividends.

    Some Hard Numbers:
    Time Frame: 1-Oct -> 15-Oct
    11 - Times we were paid by our mining pool in BTC
    13,875,362 - Number of Satoshi we mined (or .13BTC)
    110 -> 134 - Satoshi is the range in which we paid for BURST
    33,670 - Burst to be paid in the dividend

    Even with the increase in the cost of burst compared to last month we still beat the street and increased payouts by 100% compared to the month before.

    There were 24 people that received dividends

    Full Transaction log can be found here:
    http://pastebin.com/53Yhhd2q

    There will be no changes before the next dividends as things seem to be operating smoothly.

    Next dividends will be the end of Oct.

    -IceBurst



  • @IceBurst thanks man! Received here 😃



  • It's hard to believe but another two weeks have gone by and we have completed 60 days of the asset. Here's some metrics that should make you smile if you own this asset.

    The mining rig is fully vetted and the design for rig #2 is in the works. I'll be using the Assets Re-Invest amounts to start this build. By the end of November the Asset reinvest should be at the point where the 2nd rig is under construction as we continue to snowball this asset.

    Time Frame: 16-Oct -> 31-Oct
    11 - Times we were paid by our mining pool in BTC
    13,185,834 - Number of Satoshi we mined (or .13BTC)
    100 -> 144 - Satoshi is the range in which we paid for BURST
    33,002 - Burst to be paid in the dividend
    23 - Accounts received dividends

    Total Dividends
    Sept: 26,907
    Oct: 66,672
    Nov: Estimate 50K - 75K
    Dec: Estimate ???

    There will be no changes before the next dividends as things seem to be still operating smoothly.

    Dividends Were Paid about 30 minutes ago, your money should be in your wallets.
    Full Details can be found here: http://pastebin.com/r9Z2Tn1j

    -IceBurst



  • I need to buy more of this asset.



  • Thanks for the payout 🙂