Idea of New "Daily Asset Shares" (DAS) Faucet.



  • Hi Guys...

    This is only an idea (as of now I'm writing this post).

    What if we have a brand new faucet which is giving daily of 1 asset share? And what if the share belongs to the daily dividend asset?

    Would it be great and is like a magnet for more people to embrace BURST?

    I'm gonna call it "Daily Asset Shares" (DAS) Faucet.

    People can claim a daily 1 share of upcoming @ccminer 1000 asset. The scenario is:

    • Crowdfunding to get 10,000,000 BURST.
    • Purchase (order in advanced) of 1,000,000 shares of ccminer1000 asset. (of course if @ccminer keep the share price at 10BURST).
    • The Faucet will dry after 1,000,000 shares are fully Burst-ed to all claimers.

    So, if this is a good idea, I'm sure many people will be Bursting to the faucet daily to get a free share.

    What do you think guys? Who wanna be a volunteer to handle this thing?

    Happy Bursting!



  • This is so lovely and will be a great asset for the BURST community..



  • @qibucks , in my opinion, @ccminer will be the correct person to manage the crowdfunding (considering his position as an asset issuer), and at the same time he would make sure to secure 1,000,000 shares for this purpose.

    The crowdfunding would be stopped once it reaches 10,000,000 BURST.



  • @bitko If I understood correctly you would like to create an asset faucet.
    It will pays 1 CCMINER1000 unit per day instead of BURST.
    I like it, because the claimer will have a daily automatic ATM and it will be very convenient for the new comers,that will be granted with a certain amount of burst every day, and at the same time will learn about the opportunity of AE!
    I can tell you that I want to keep the price of 10 burst for the new asset.
    But I do not think I'm the best person to issue the crowdfound campaign for it. I guess that there will be a conflict of interest, because I'm issuing the asset and at the same time I'm asking trough a crowfound the community to help me buyng 1 000 000 units of my own asset....
    I guess that you are more appropriate than me in doing so!
    Plus 10 000 000 BURST for a crowfound campaign is quite a lot, but try is free, plus you want to help others so why not!



  • @ccminer said in Idea of New "Daily Asset Shares" (DAS) Faucet.:

    @bitko If I understood correctly you would like to create an asset faucet.
    It will pays 1 CCMINER1000 unit per day instead of BURST.
    I like it, because the claimer will have a daily automatic ATM and it will be very convenient for the new comers,that will be granted with a certain amount of burst every day, and at the same time will learn about the opportunity of AE!
    I can tell you that I want to keep the price of 10 burst for the new asset.
    But I do not think I'm the best person to issue the crowdfound campaign for it. I guess that there will be a conflict of interest, because I'm issuing the asset and at the same time I'm asking trough a crowfound the community to help me buyng 1 000 000 units of my own asset....
    I guess that you are more appropriate than me in doing so!
    Plus 10 000 000 BURST for a crowfound campaign is quite a lot, but try is free, plus you want to help others so why not!

    Yeah, you perfectly got my point. I understand your objection due to conflict of interest reason. But I'm also not feeling well to handle this such a huge thing, because I'm also new here. I don't want people will give a negative thinking at the 1st place.
    Probably, someone who's more senior and having experience of handling faucet, such as @JackManMania , @daWallet , @haitch , @gpedro , or other seniors will be more appropriate to handle it, as long as we can make sure everything is running on the track.

    @nameless, @crowetic, @Lexicon, @dagentlemang and others... you're welcome to give your comments on this idea. Thanks!



  • @bitko I think you can do it! and some "seniors" could help you in get more credibility if they will think it's a good idead for them as well, and the faucet owners could guide you in actully put online yours!



  • its a pretty good idea tbh. i also thought that if i was a faucet owner what i would do is buy assets with a percentage of the donations to the faucet and let these assets provide a constant income to the faucet. rather than having to rely constantly on donations after a while the assets would end up funding it.

    however an asset that is specifically designed for faucets would be a step furfer in the right direction and probably much better than the idea i mentioned above



  • @bitko , i like the idea. better yet, i love the idea.

    BUT, it comes with certain aspects you need to consider first:

    *crowdfund is raised , burst is dumped and equipment is bought

    • it takes A LOT of time to plot the 1000 TB, and i don't think it's even possible to have it all mine from one single machine... (maybe 1-2 more PCs will be needed...not sure)
    • people might want to claim more than is available at the time (while still plotting)
    • a system is needed to keep track of how much was plotted, how much is mining, how many shares are given out and how many are left to give away
    • cost of sending over the shares also needs to be considered. it's 100k burst overall
    • what happens when the faucet is bled dry? - a solution needs to be devised to hold back some of the earnings from cc1000 to further grow the faucet balance and consider either expanding or adding other assets to it as well when the entire thing is sold out (this needs to be done early on to ensure sustainability long time)
    • i recommend reducing the faucet payout from 1 share to 0.5 ... our community is ever growing and demand will be very large. at the exponential rate we grow, 6 months from now we can have 10k people claiming each day. what then? this is a question for current regular faucets as well
    • and a few more issues that i'm sure skip my mind now, since i just woke up a few minutes ago 🙂

    Overall, it's brilliant, and it can be done, but not in a haste. A lot of factors need to be considered and SOLVED before even thinking of issuing or starting the crowdfund. I'll be back later when my brain hopefully starts working at at least 50% capacity and further expand my point.



  • We need to treat assets like we do a business @nameless hit it on the money with his statement, you're going to have to do a feasibility study se where this takes us, will be watching



  • That's a great idea ! But with 1,000,000 shares the faucet wallet should also receive a lot of Burst before it goes dry, so what would be done with the coins ?



  • @nameless said in Idea of New "Daily Asset Shares" (DAS) Faucet.:

    @bitko , i like the idea. better yet, i love the idea.

    BUT, it comes with certain aspects you need to consider first:

    *crowdfund is raised , burst is dumped and equipment is bought

    • it takes A LOT of time to plot the 1000 TB, and i don't think it's even possible to have it all mine from one single machine... (maybe 1-2 more PCs will be needed...not sure)
    • people might want to claim more than is available at the time (while still plotting)
    • a system is needed to keep track of how much was plotted, how much is mining, how many shares are given out and how many are left to give away
    • cost of sending over the shares also needs to be considered. it's 100k burst overall
    • what happens when the faucet is bled dry? - a solution needs to be devised to hold back some of the earnings from cc1000 to further grow the faucet balance and consider either expanding or adding other assets to it as well when the entire thing is sold out (this needs to be done early on to ensure sustainability long time)
    • i recommend reducing the faucet payout from 1 share to 0.5 ... our community is ever growing and demand will be very large. at the exponential rate we grow, 6 months from now we can have 10k people claiming each day. what then? this is a question for current regular faucets as well
    • and a few more issues that i'm sure skip my mind now, since i just woke up a few minutes ago 🙂

    Overall, it's brilliant, and it can be done, but not in a haste. A lot of factors need to be considered and SOLVED before even thinking of issuing or starting the crowdfund. I'll be back later when my brain hopefully starts working at at least 50% capacity and further expand my point.

    Thanks for your input @nameless , you gave very good points to be noted. This plan need to be prepared carefully and will only be launched after everything is ready.

    Faucet payout to be 0.5 share is perfect, it also has same initial value with most of current faucets that gives 5Burst for every claim.

    Regarding cost of sending over shares, we could have several options:

    • donation
    • divvy from held shares while they're still in the faucet wallet
    • hold part of total shares (maybe 30%) and keep them inside wallet so that the divvy will be enough to cover tx fees, and at the time of 70% total shares have been fully distributed we can change the claim reward into Burst (or another method that can be discussed later based on situation at that time). This scenario will allow the faucet active and the question about sustainability is automatically answered.

    In terms of asset preparation, I'm sure @ccminer will have the best plan since he already experienced with ccminer100. We need him to secure 1,000,000 shares to be allocated for this faucet. Maybe the purchase of the shares will be done gradually, and the Faucet will be launched once the total of 10,000,000 shares are bought completely.

    I'll be waiting for your further suggestions, hopefully your brain has reached 100% capacity. Lol. 🙂



  • @bitko The new asset will behave like CCMINER100 so I'll release units gradually!
    Sure if your project will become a reality you will have all the support you will need from me!



  • @Gadrah_ said in Idea of New "Daily Asset Shares" (DAS) Faucet.:

    That's a great idea ! But with 1,000,000 shares the faucet wallet should also receive a lot of Burst before it goes dry, so what would be done with the coins ?

    The coins could be used to cover tx fee for sending over the shares.
    And after the faucet dried can be used to keep it alive by distributing Burst instead of asset shares.
    As I mentioned in above comment, we can allocate around 70% of total asset shares for distribution, and the rest will remain in the faucet wallet.



  • @ccminer said in Idea of New "Daily Asset Shares" (DAS) Faucet.:

    @bitko The new asset will behave like CCMINER100 so I'll release units gradually!
    Sure if your project will become a reality you will have all the support you will need from me!

    Thanks @ccminer for your support.
    I learned from @nameless to have a big dream. Supposed in future it reaches 50% result, it's gonna be huge.
    I'm sure this is more applicable and logically accepted compared to @nameless' 'resolution' to have 50% of ccminer1000 asset shares. LOL... hahahaha.



  • I really like this idea. I think the concept is sound and as for bringing in more of a crowd umm that's a hard one. The more of crowd you bring in the more hardware on the network soon it will be whales that take over and the average person with 2 tb wont make anything. Which they don't really now anyways, I mean I want to buy 50 tb worth of drives to mine with but having hard time justifying cost of hard ware versus return. Since I am only a hobbyist in mining. My opinions are only justified in profitability and long term. I mean I started with hobby mining bitcoin with antminers s1 when antminers s5's where coming out and upgraded my way up from the profit of mining into a couple of thz, granted I am not making a killing but they are still turning a profit at lesser expense than say buying 50 tb worth of hard drives.



  • @bitko Hey man... I've been out the last 2 days so i only seen this just now, but here is my thoughts on this idea...

    I've thinked in a simillar plan to this like one month ago but didn't get that going due to some reasons:

    • First of all we have the sustainability issue, because yes the crowdfund can be used to prove the concept but what happens once the first batch of assets run dry? IMHO only exists one answer to this question, and i've being thinking in a plan to this but i'm not yet happy with the way i see in my current plan... The idea is to use the faucet to promote an asset (and ofc the whole point of this is promoting BURST at the same time), so i think the crowdfund can be a way of prove (or not) that this really promotes BURST and the assets involved, but when the assets to be claimed start to run dry we need that some issuers send more assets to promote their grow and to capture new investors so IMO the only way of something like this work on the long run is if issuers send shares of their asset (instead of this shares have to be bought by the faucet account) to the faucet in order for it to be available to be claimed...

    • Second (and probably the easiest to fix) is that the faucet software only allow to send payments but i believe that @luxe can implement a way of send asset shares in the next release without much hassle... Maybe even a way of the claimer to be able to choose if he wants to claim BURST or shares of an asset that is available to be claimed... ( @luxe if you make this possible please contact me when you can because i must have some cool features (related to this asset claims) that i'd love if you can add in there too, if it doesn't take you much time to implement 😉 )

    This being said @bitko i can use the faucet.burstcoin.pt to this project if we all come to some conclusion regarding this two issues... Although i didn't want to be the one asking for a crowdfund because as you may noticed i never asked for a crowdfund before, and i only intend to do it if i have something really big planned to be worked out and ask for part of the needed funding is a must...

    You may noticed that the only time i asked for money before was for developing the Bbrowser and that is something that is still in the works and for wich i have really big plans... Regarding to the faucet i don't have much funds and you may noticed that i only asked for donations one or two times until now (although big thanks for the whole community because some have being donating to there making possible to the faucet not being dry for much time everytime it happens), due to the fact that the faucet was dry, and i didn't have a way of send funds to there because the ad revenue the faucet generates is just too low (contrarily of what i expected before i started), and i take a lot of time to reach the threshold of Adbit so i was thinking in even rent the spaces in BURST, a bit like haitch have been doing for all his sites, but i wanted to reach the threshold before stop using the Adbit program otherwise i will just have 200k sat laying in there (the threshold is 250k)...
    Basically, i personally don't like to ask people for money (especially to be given away!), although i can understand that this can be benefical to everyone if it really brings new people to BURST and to the AE...

    I believe that when we ask for money we have to give something in return so i am much more apologist of using an asset to raise the money than using a crowdfund because with an asset people still have the value in their pocession although an asset can never work with this plan, so yes a crowdfund should be the way to go, but i would prefer if someone else do that instead of me...

    If there are Asset Issuers willing to use this kind of promotion in the faucet, i am open to it and will not charge nothing in return (just some burst being donated to the faucet too in order to cover the fees of sending the asset shares to the claimers ;D)...

    The PT faucet never had the intention of generates income (at least in this baby phase, maybe in some years this may change idk) because i just think in the faucet as @daWallet always say, "as a way of people start an account and secure it for free", not as a way of generates profit for no one (neither the owner of the faucet nor the claimers)!

    Sorry for the big text, but as i said i was away for 2 days so i needed to express myself hahahaha



  • I'm all for giving back to the community but I think this isn't the way to do it.

    If asset issuers want to donate to faucets, then that's fine, donate their assets to faucets so the faucets have income, then that's fine. But to ask the community for... well, roughly $5000-$6000 to give away is a stretch. That would go a long way into actual Burst development and increasing the value of Burst in the long run instead of creating a faucet just to give it away to god knows how many bots and script kiddies who just want to grab and dump.



  • @kohai I agree with you that bots could be an issue, and was one of my initial concerns on this matter but we can do the reward so low that is still good for promotion, and at the same time don't will not worth for bots to be runned on it!

    A bit like the faucets are be runned by now... The reward is just too low for worth having bots claiming in there! If you are doing something you have to do it right, right? hahaha

    But ofc there is the issue that most of the assets don't have the decimals option available, so this can be an issue! I guess we will have to see what the community think of this before launching ofc!



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    @gpedro I will look into it, what do you need? A faucet instance that only sends a specific asset instead of burst?! Configured via properties?