[Feeler] Mining Asset

  • I'm thinking about starting my own asset but before writing out the details I am looking for some input as well as answers to a few questions.

    My thought is to start selling stakes in my mining operation, currently at 120TB and growing!

    I think I can make my asset much more attractive than any similar assets, and possibly even have people buy mining through me vs their own operation.

    I would sell each TB of my asset for $25 USD which I think is an extremely fair price. Question though: Am I able to adjust my issuance price to daily to keep it as close to $25USD per TB as Burst coin fluctuates?

    I would only release shares as the TB are plotted and online, whatever doesn't sell is fine I'll keep to myself. Asset holders would be entitled to 90% of the profits so I can cover power and other hardware costs to keep it all up and mining.

    If for whatever reason the asset ever shuts down I would buy the shares back as follows:

    6 months - full price
    6months - 1 year - $20USD per TB
    After 1 Year 1 dollar per TB per month

    I don't see why it would ever shut down unless it was no longer profitable, but should have an exit clause just in case.


  • @superskid what happens when drives fail?

  • I think the risk is low, I'd eat the cost, you're buying shares in my mining pool not individual drives. I suppose though is every share is sold out (highly unlikely) until I get another drive up and running there could potentially be 4TB or so less mining than actually sold.

    Maybe I could cap what I sell at like 80% of my total online drives to prevent this from ever being an issue.

    I think the challenge here is pegging the cost to USD, but I think in mining that is critical, what is my cost per TB. Though I have never issued an asset maybe it's easy. Or DEVS maybe since the wallet pulls the cost already you could choose to peg your price to USD and the amount of burst would auto adjust.

  • @superskid Hey mate, the idea can be very attractive! About burst price oscillations, you can cancel and replace your ask order (asset issuer ask order) changing the price in proportion to the burst price every time you would update it (if it's possible, I never issued an asset, but I suppose so, like any other order...). If you are good in developing or you can find someone that can help you, I think it's possible to build an automated transaction for that, maybe using the burstcoin price ticker on burstcoin.biz or the firefox addon.