Forgot to mention. I am thinking of an incentive to buy in early. Here is one idea:
out of those 70% those who bought in early gets 5% and then the rest amount is spread among all bought shares.
70% = 1000
1000 x 5% = 50
early shares = 5 so they get 10 each
bought shares later = 30
Total shares = 35 gets ~27 (950 / 35), that means those 5 early get total ~37 (27 + 10 from 5%)
OK decided, to decrease safety net to 7% and assign 3% that left to early buyers.
Thoughts? Or you think those who buy in later doesn't get enough? But again they risk less, because no matter how you look at it those who buy early takes biggest risk (they buy into unknown yet asset, knows dividends wont be right away, etc.)
Asset is going live as soon i sync wallet, so in an hour or so
And the Asset is LIVE!
jakev last edited by jakev
Hey @LithStud great work with this one. Scooped some up
I think it would be helpful if you announced what the other 750K will be released at. Also how will the coins you are staking be stored? Details on best security practices would be appreciated here. Finally how is the bonus for early buyers going to be distributed?
Much love and best of luck with your assets!!
@jakev hey there i didnt want to drop all million right away. I will be releasing next 250k once these are sold. I dont plan to increase price for shares in this initial stage. So any price increase can be expected around 2017 01. Basically the later you get in the higher price (plan is 10->20->40->60) increasing it every two months, i should be ok even if all is sold for 10 since of the nature to grow. Now as for security all wallets is on my pc and not online. Will be encrypted and backups stored in couple of safe places. Due to the nature of some coins i chose. Wallets will be running every day to maximize staking potential.
About early shares. All coins staked during 2017.01 will be sent to Bittrex and sold for best possible current price. The btc earned then converted to BURST and sent to asset wallet. So all percentages is calculated from this amount minus any BURST that was left from previous months (i doubt it will be possible to spend exact ammount in buyback, also there needs to be some for transaction fees). So long story short early shares 3% from total amount will be shared between those early shares only.
I will be making information site where you could check current ammounts of coins in wallets and other important asset info. For now i will try to write as much information as i can into google sheet that will be shared.
I hope answered all question once i get to pc i will add some of this stuff (prices) to top post.
I have added into wallets my personal funds for the moment (they are not much but everything counts). The amounts will be noted down before starting buying coin with asset funds and available in google sheet. Since they are personal funds i can retrieve them at the time of need.
Shares sold so far: 5000
Evergreencoin (EGC) has been added to the list of possible coins to stake.
Update: Website for the information about asset is shaping up nicely and i hope to make it public before i start buying coins (the end of week).
On the same note, since share sales is very low i will invest in one coin that i have been getting good results using personal funds (~0.002 BTC).
Also to to be transparent i am buying shares with my main account - this way i wont need to constantly update personal funds existing in a wallet. Also keep in mind that i will be adding coins generated from personal funds to total coin pool - lets call it a boost
brancarlo last edited by
@LithStud add additional 1000 shares to your update! Good luck!
@brancarlo thanks for your investment
And on another note i was able to discuss with devs of one potential coin, so i know a bit better how its PoS works and also their plans for upcoming years So ill be constantly adding at first my own funds to that coins wallet and once we grow enough adding it onto assets invested coin list.
Shares Bought so far: 6200
brancarlo last edited by
@LithStud Sound good to me! Let me know if is anything I can do to help.
@brancarlo you allready helping by investing into asset this asset pays better when the more coins is being staked or atleast thats the theory (and calculations support it unless i miscalculated something baddly)
bandarfjb last edited by
The share price is increasing by certain time frame or every 250000 shares sold?
@bandarfjb by time frame, with first increase scheduled in 2017.01.01
Once i start buy back it will always be lower as to prevent buying shares raking in dividends and selling them without actually helping the asset. So initial buy back price will be 5 BURST.
its due couple of reasons
- First investors are risking the most so i belevie they should be rewarded for that.
- As it is long term investement based asset its worth will be ever so slightly increasing (if we manage to avoid get burned by coin death). It is also why whole december worth of coins will stay, and dividends starts from coins accumulated in 2017.01
My plan for YASA is to establish it as strong and profitable avenue for those who doesnt invest for immediate gratification short term with unclear future.
All shareholders also can suggest coins for future and i will take a look and asses if its feasable and safe. If you looked at my shared google sheet there is a list for coins that are considered to be added to asset.
All in all depends upon gathered funds. So far there is enough to invest into one coin maybe two. I am still maintaining at least three other coins with my own funds.
EDIT: added to first post clarification about what happens with shares with bonus dividends once you sell them afterwards.
Update: 6714 shares sold so far!
Update: 6724 shares sold
Also tweeked a bit of buyback reliminary prices dates to time interval i feel is reasonable. If you guys happen to look it up in google sheet you will notice that the plan is those who bought shares early will be able to sell them at profit (buyback will be done with safety net funds as mentioned in opening statement, in some cases if i am able i might also do some of that buyback with my own funds (separate wallet from the one used by asset)).
So bonus for buying shares almost over (left couple days).
Shares bought: 7034
Sad thing BURST price has droped so much, so we will have less BTC to buy coins. Most of this i will use to get NET coins, and some to get BITB or RDD (will decide day of buying according to price state).
I hope we will be joined with more investors and be able to setup a more expensive coins for staking (DMD and one i am currently assesing).
Why not invest in one coin only?
While i try to asses coin stability and choose only those i feel will keep stable prices or even increase in price, there is still risks, so staking multiple coins is a sort of safety measure.
Shares bought: 8476
Less than 10h is left of early sell bonus and also till starting of growth stage
Update and the early shares bonus dividends incentive has ended
Total shares sold: 8614
EDIT: In view of unnaturally low price of BURST i decided to wait till tomorrow before selling collected BURST. Lets hope it gets back above 70 satoshi atleast.
So the decision to sleep on BURST was right prices are now over 70 satoshi gonna begin converting BURST into other coins once i get from work.
Those who tracks this asset might have noticed some additions to google sheet it now has a log of transfer to Bittrex. At the moment trying to sell a small chunk of funds in a way as to not drop down burst price - it will take a bit longer but in this way should be preserved current fragile burst price state. If come tomorrow morning i havent been able to sell this small chunk i will just dump it at the buy price as more than couple days delay will be more harming the asset than selling at a bit lower burst price.