[ANN] SocalsFarm (Mining Asset) 50% Investor Insurance

  • Asset Name: SocalsFarm
    Asset ID: 9998071651072078911
    Price: 20 BURST
    Total Shares: 1,000,000
    Fee: 10%

    Hello all,

    I am proud to announce the issuing of SocalsFarm. This Asset will utilize proceeds from share sales to pay for equipment upgrades and maintenance costs for a BURST mining farm. All mining proceeds will be distributed to Asset holders.

    This Asset is a first in that it is the ONLY Asset so far to have a 50% built in Investor Insurance. What this means is that 50% of the BURST from EVERY share sold will be forwarded to @Haitch's Escrow service to be disbursed to all asset holders in the event of an asset shutdown. In plain English this means that no matter what you can NOT lose more than 50% of what you invest into this asset.

    For every 50,000 share block, 10% (5000 shares) will go to myself to offset electrical costs and help fund further expansion (nobody will be charged for these shares) and the remaining 45,000 go to sale and the proceeds of which will be used to purchase HDDs (about 10TB for every 50,000 share block). There will be an initial release of 50,000 shares with additional 50,000 share blocks being released for sale to fund future growth. So even with difficulty increases and block reward reductions this business model will allow for continued growth and profitability by not restricting itself to the static mining rate of a prebuilt mining farm.

    As of right now this Asset has 3TB backing it, with a planned 10TB expansion in the near future.

    @Haitch has also been gracious enough to offer 95TB worth of mining to back the Asset for the time being, so once he gets his miners moved this Asset will have 98TB worth of mining capacity backing it. So early adopters will benefit the greatest by receiving the most augmented mining dividends when compared to later adopters.

    To view the controversial Pre-ANN for this Asset, please go here: https://forums.burst-team.us/topic/2914/pre-ann-socal-s-burst-mining-asset-30-bonus-see-details

    To view my Identification Verification announcement, please go here: https://forums.burst-team.us/topic/2362/identity-verification/57

    If this Asset is ever shut down for any reason @Haitch will release the Escrowed funds to all Asset holders, and I will either sell the HDDs and use the proceeds to perform an asset buyback OR the HDDs can be claimed by any asset holder at a cost of 22,500 Shares per HDD (plus shipping)

    Thank you all,

    Will "socal" Sedlak

    alt text

  • The mining capacity of the Asset itself can be checked at pool.burstcoin.eu under "Socals Mining Asset V1"

    Once @Haitch's miners are moved their mining location and status will be updated here.

  • @socal Hey man i have to ask... How will work the 95Tb from haitch distribution of mining? It will work like 3 Tb (as bonus in comparison to whatever shares are already sold)?

    I think you have to explain more how that will work because i think 98Tb bonus is too much for the time being! I mean, if i buy 50000 shares of your asset i will get 1/20 of 108Tb what correspond to 224626 BURST in the first month and since my investment was 1'000'000 BURST that means i will ROI in under 5 months, so i really think this is too much but if this is the case i like it, makes me a bit suspicious but with your ID verification and all i think a lot of people will invest...

  • What is the range of expected % of ROI for early adopter and late adopter?

  • @bandarfjb said in [ANN] SocalsFarm (Mining Asset) 50% Investor Insurance:

    What is the range of expected % of ROI for early adopter and late adopter?

    Same question from me

  • @socal ?? "1st Round - 50,000 Shares @ 10 Burst/Share" its 20 burst per share

  • When you release another block, is the price will always be the same at 20 Burst?

  • @HiDevin That was from the Pre-ANN which was a brainstorming/discussion thread so not everything said there will be implemented here

    @gpedro The 95TB from Haitch will be used as such, After they are switched over, whatever BURST the 95TB makes gets split evenly between all asset holders, so it works exactly the same as if this Asset had a 95TB prebuilt rig.

    @bandarfjb That is difficult to answer for the simple reason that mining rewards will vary from day to day, that being said if you follow gpedros math from a bit further up you will see that it is possible to ROI in 5 months but like I said it all depends on how much the miners make daily and how long Haitch lets the Asset utilize the 95TB. Also for now the price is going to be 20 Burst/share BUT depending on Network difficulty and daily returns the price COULD be raised at a later date if the shareholders vote for it.

  • Also for now I am placing a hardcap total of 250,000 shares so for now the most shares that will be sold total is 250,000, that allows for a phased build up and helps protect the BURST economy.

  • @socal ah thanks for telling me :o

  • Just bought some will try to buy more tomorrow and in the coming days!

  • @HaveMercy no problem at all and everyone remember NEVER invest more than you can afford to lose (this rule goes for all investments not just my asset)

  • @socal i didn't get quite unlightned with your response... The @haitch 's 95Tb will be used as bonus or they will be used as initial pre plotted drives that will be distributed like if you sell enough assets to buy 10Tb you got 10.53% (wich corresponds to 10Tb of his 95Tb) of mined by the 95 Tb total to pay dividends?

  • @gpedro ah OK I see what you are asking now, it will be a Bonus since the 95TB belong to Haitch and not the asset. So this 95TB is meant to help the asset launch and give something to the early investors.

    When you buy shares you are buying Asset owned mining capacity, as of right now that would be 3TB, but as stated Haitch's 95TB will be backing the asset as well until such a time that Haitch feels the asset is viable enough to stand on its own. But for however long the 95TB is used for the asset you will get that rate of pay so as you stated if you buy 100,000 shares (10%) you will get dividends equivalent to mining with 9.8 TB (Haitch's 95TB + Asset owned 3TB = 98TB) and that amount will go up as more HDDs are added so after the first expansion it'll be 10.8TB then 11.8TB etc etc

    That being said here's the tl;dr version:

    Haitch's 95 TB are a Bonus and are not Asset owned HDDs

    Did this answer your question a little better?

  • admin

    @gpedro I'll have 95TB mining on a pool on behalf of the asset, I'll be sending him the earnings from those miners. At some point when his farm grows I'll go back to mining for my self.

  • Also I will post here when dividends have been paid, which will be weekly for now but I will change it to daily dividends once more mining capacity is added.

    I will also inform everyone when Investor Insurance payments are sent to Haitch's Escrow

    Since everything on the block chain is visible I encourage our resident block chain forensics experts to watch my asset and personal addresses so see that everything is being performed as promised

  • admin

    @socal one question - do you want me to just hold your Burst in the escrow, or invest in other assets in the expectation of increasing your stake? Leaving them in Burst earns nothing, but ensures they're available - investing them gives the expectation of earning, but always has the potential of a loss occurring, and depends on buyers for the assets.

  • I'd rather hold it in liquid BURST that way it's more available and also the exact amount needed to cover Investors 50%

    Just an example say some assets were bought with the Investor Insurance funds and the price of those assets went down and my asset closed the investors would NOT get 50% back and it would make me a liar

    But we can always put it to a vote and let the share holders decide

  • admin

    @socal No problem - My intention has always been to leave it up to the asset owner/holders to decide.

    Just holding is the safest option, investing is as always speculation.

  • Just got in 😃 With a few shares, but I'm in lol

    If you got Burst as Escrow, I think you can invest in the team assets. All of them are safe, I think.