[ANN] New Bubble Asset Launch!!
The Bubble Asset
Asset Id: 10039697888547035056
What it is:
Bubble asset is being issued as a game that will stimulate the asset exchange and increase familiarity with how the asset exchange works. The best part is its fun, profitable, and easy to get started. Seriously
All profits are reinvested into Burstcoin to improve the network TB’s and get new users.
How it works
This asset has 21,000,000 shares, but only 10% of them will become available at IPO (Means at the Start), after all starting shares are sold a random amount of remaining shares will be placed for sale at a random set time in the future (kept secret). This process will repeat until ALL 21,000,000 shares are sold!
(The reason for staggered selling of shares is so people trade person to person making people profit instead of buy all my shares as they will be cheaper which would just cause stockpiling. Also the secret timing with the reserve asset sale prevents rich users timing when to grab all the assets)
All assets should be traded according to the Official price to make sure that this is a stable asset, the more you adhere to the Official price the more profit for yourself and others. The assets Official price will remain the same at 1 Burst until all of the IPO’s assets are sold, after that the fun part begins. This means that if you buy this asset at the IPO for 1 Burst, the day after all IPO shares are sold you can sell this asset for 1.01 Burst. If you were to wait 2 days you could sell it for 1.0201 Burst, and so on. Since this asset uses compound interest the price will grow faster and faster as time goes on, making the asset more and more profitable in shorter amounts of time as the asset ages. But with greater returns comes greater risk, you see this asset is a bubble waiting to Burst at some point this asset will become too expensive to buy per share at this point the asset will fall to it intrinsic value of 1 Burst to start the cycle over again. At such a time I will declare on https://forums.burst-team.us/ that all issued assets are revaluated to a value of 1 Burst.
Note that I do NOT control when this asset revaluates itself, the revaluation is just a mathematical certainty that will happen when the price becomes too high, as constant exponential growth is impossible to maintain with a finite amount of Burstcoins to purchase them with. But this won’t happen for more than a year after the last IPO asset is sold.
(I will just be the one to declare the formal reset as I am the Issuer)
The reserve assets are again to encourage people to buy/sell sold assets instead of stockpile a mass quantity of 21,000,000 shares and sell them at their desired price. I (AngryChicken) am going to release all the shares at the prices specified above in random intervals and random amounts generated by the Java’s “math” class using the “random” method with restrictions. This will ensure a fair stable way to distribute the assets. Using this method will also allow me to better monitor and control the way this asset is traded, making the original concept more solid.
Reserve asset prices:
The price of reserve assets sold will again be 1 Burst or 5% of market value rounded to nearest Integer (meaning solid number) whichever is greater, but here is the cool part. Think of the reserve assets as on sale, you buy them from me at rock bottom prices but they are worth the same as the assets that are currently selling which means you can sell them for huge profits right away. This also helps the asset by increasing movement in the trading of this asset, because who doesn’t love instant profit. Unfortunately, due to the fact that this becomes an issue with people buying too much so they can pump the price.
The Official Price:
ALL asset shares will be sold by the Asset Issuer (AngryChicken) for 1 Burstcoin for the IPO, after the IPO the asset will be sold for 1 Burstcoin or 5% of market value rounded to nearest Integer (meaning solid number) whichever is greater. As stated above the amount that the assets are worth depends on how old they are, but not everyone buys an asset at the same time, so to sync this every day at 12am EST (Midnight Eastern Standard Time) the Official price will grow 1% compounded starting on the day the last asset of the IPO is sold. Once the last asset from the IPO is sold I will make an announcement on https://forums.burst-team.us/ that says “tonight at midnight EST the official price will rise by its first 1%“with this I will also post a list that shows day by day the new Official price (1% compound daily), this will kick off the exponential growth that will in turn make lots of people money.
As I (AngryChicken) will be the issuer of this asset, I declare that I am banned from obtaining or trading this asset other than obtaining through reimbursement from a fraudulent transaction, initial gain from issuing the asset, or selling the initial assets at prices listed above.
The Official Rules:
I will only sell my assets for Official prices.
I will not buy assets for Unofficial prices.
I will be fair in how many asset I store in my wallet (Not to hoard).
I Understand that this assets stability depends on me, I promise to have the best intentions when purchasing this asset.
Why will this asset work?
This asset will work because the holders of this asset will want to sell high, and the buyers will want to buy low as possible. This will make the official price the go to median between the two people wishing to exchange.
If one person buys 1 asset for 1 Burst and he/she wants to sell that asset for 20 Burst, the other individual will see the official price and know that this is too overpriced. Instead the buyer will see a more realistic offer that is within tolerable distance, or is the Official price, purchasing that instead. So over all the assets price is dictated by the buyers and the sellers, which are both informed about this thing called the Official Price. Although that seller might get that price down the road, as the Official price goes up.
How does this asset grow?
This asset doesn’t believe in increasing its value forever. So how does this asset gain in value? It’s simple, one person buys the asset at the start for 1 Burst then when that person feels like they should cash out they trade it for market value, to someone else who thinks it will go up more. Let’s say market value is 18.33 Burst. That person just made 17.33 Burst per share. This repeats until the price becomes larger than the supply of Burstcoins that can be used to buy it then the asset price drops to 1 Burst leaving the last person holding the asset paying all the profits to people before him/her (But they are always payed upfront in this case in purchasing the asset). This mean no one can back out of paying you your profit. If the asset never changes hands and the same person that bought it from the IPO still has the asset after the crash nothing would have happened. You see the asset was bought for 1 Burst then fell in price to 1 Burst meaning the only thing that changed was the paper value going back to the original price. But this also means that this person didn’t make a profit since he/she didn’t sell it to anyone.
Thus the Game.
(Overall this is like gambling with Burst through the asset exchange). (Not gambling legal reasons)
Now some people may think how can this asset be worth anything? In truth it isn’t, there fair warning. This asset isn’t backed by anything it will never be bought back by the Issuer (AngryChicken), and it’s worth really nothing. Then again the asset is worth what you think it is worth just like that cash in your wallet or purse (Doesn’t matter the country). Let me explain if your government decided that it has too much in debt which are all of them, then the government has one of two options, One inflate the money supply until all debts are payed off, or default on the debt and create a new national currency. Either way you lose ~50 -500% of your money, so you’re still playing this game in real life weather you want to or not. Why not start fresh and profit while you can before the bubble bursts.
Where do your profits go?
Like I stated above my want to create this asset to show off how awesome the asset exchange can be. No better way to do that than use it to play games/gamble (not gamble legal reasons). I also want to get people involved and increase the network size, so my family will be receiving HDD’s, and help/support on how to get started. (Myself too, about that HDD stuff… yea) There will also be donations to people/faucets to help spread the wealth.
Thanks for reading this through, remember there’s never a penalty for buying at this price but always lost potential if you don’t.
Now some people may think how can this asset be worth anything? In truth it isn’t, there fair warning. This asset isn’t backed by anything it will never be bought back by the Issuer (AngryChicken), and it’s worth really nothing.
OK here'my vote on this..... Please don't release it, we already have enough Assets that in reality are not worth their price and that will never ROI. Please do not complicate, confuse and potentially devalue the Asset concept further with an "Asset" that absolutely has no backing or value.
@RichBC The goal is to get people intrigued in the asset exchange, and allow opportunity to make money doing so. Like I said in the post it's more of a gambling asset than anything. But I get your point it is worthless but so is everything else digital. Think about it if the power goes out you can't use Cryptocurrencies anymore period, or the money in your savings account. So not releasing something because it's worthless is really counter productive. Besides like I said all purchases will go to help grow the Burstcoin network, and these reasons are what make this asset unique.
I am watching.
@AngryChicken To be honest if we were in early April it would be very clear what this is, and we could all have a good laugh and the forget about it.
However it's not and so presumably you are serious about releasing 21 Million shares for 21 Million Burst purely as a game, with a promise that.
"All profits are reinvested into Burstcoin to improve the network TB’s and get new users"
I am very worried that new users will be taken in by statements like
"the amount that the assets are worth depends on how old they are" and
Once the last asset from the IPO is sold I will make an announcement on https://forums.burst-team.us/ that says “tonight at midnight EST the official price will rise by its first 1%“with this I will also post a list that shows day by day the new Official price (1% compound daily), this will kick off the exponential growth that will in turn make lots of people money.
You can't go creating value out of nothing in this way, there is no such thing as an "Official price" that you can just declare. I appreciate that people can make their own decisions, but hopefully at best you will choose not to release or at worst no-one will invest in this ridiculous Asset and we will be able to forget about it.
We already have HotPotato if people want to have a play with Assets then pass that along.
Hello. Assests are a great thing to have and to promote exchanges. I like your idea. Its good to promote burst and the communities. While i admire this. I am looking for something a little different from assets myself. I am looking for a payment in return. I do not need much, i would be happy with 3 bursts a day. I do not plan on selling assets as they are worth hanging on to.
We all know that a "Worthless" Assets can become worth something. Lexicon and i did a free HotPotato asset giveway on xmas to promote the exchange. We had a massive good time, and hoped to bring about some fun to the burst community at the same time. In fact. This asset was worth 0 before. If you look at the asset it is now "Worth" something. Its great! It is not worth a lot, but with the help of everyone here, we gave it value. So i believe in what your saying.
I hope your experiment works well for you! Cheers Man! :)
@RichBC @AnotherDeadBody Exactly HotPotato was the inspiring asset for this I loved it so much but noticed it didn't move much so tried to think of a sound way to give incentive for trading. I made this to mimic the way governments inflate the currency supply from nothing, and how government currencies always crash eventually. If you don't believe that I will reinvest the money I would like you to note that I have thousands invested already into equipment, so where Burstcoin goes I go. If that doesn't convince you then, I simply can't do so.
First Purchase 3,000 down. Thanks everyone!!!
@AngryChicken Asset prices rise because people value the payout from them, and are betting on better future payouts. An asset that pays out nothing - maybe I'm missing something, but why buy? I can't expect a better future payout from something that promises no payout. Maybe I'm missing something, but I really don't see why anyone would buy this.
@haitch Well simply it's a game just like blackjack at the casino. There's never a guaranteed payout even with assets with dividends as the dividend can be annulled/cancelled. This asset like you stated has no payout, so think of it as cash, or a dividend less stock, maybe gold. When people buy this asset they are hoping that someone else will want to play the game as well and once the initial 2,100,000 are sold for 1 Burst the Official price will rise as a guide to the future buyers of this asset as time goes on. This is the hope of getting more than you payed for. But with everything that goes up constantly with nothing backing it like the government inflating currency supply, it crashes (Hard). This will leave the last person holding the asset with the original purchasing value of 1 Burst regardless if they pay 1,000,000 Burst for one share, this also means that this last person that payed the massive amount in turn pay out the profits to everyone else playing the game.
So overall it's a mathematical concept that I came up with that steals future value in present time only to leave one person paying the whole bill at the end.
But math suggests that this constant growth could go on for well over a year+, until someone is stuck with the reevaluated asset.
Hope this helps in understanding. :)
Looks and feels like a bubble game from the old e-gold days. But instead of having the last buyer get all the deposits before him if no one else deposits, he gets stuck with the bill, effectively discouraging anyone from actually buying because why buy into something where your reward is, well, nothing. I would buy into it if I was the last buyer, no one else came on, I would get everything that went before me, and not punish me for actually being the last one who had the guts to put in burst.
A real asset Idea would be for you to take asset deposits, use the raised funds to develop a third party script or even utilize the smart contracts system, then use the burst ecosystem as the framework for the game. Take a cut every time the game cycles and pay that out to asset holders.
@kohai My goal isn't to make profit it's to rise money to fund more projects in burst. I understand what your saying about being the last to invest, but if you invest now there is no penalty, as if the asset crashes it crashes to the price you bought it for. it's the people that you sell to that take on the risk. But they also have a chance at earning more profit than you in a shorter time. Making the higher risk higher returns attribute of the real market.
Besides this asset mathematically won't crash for well over a year, when the cumulative price of assets in circulation exceeds the amount of Burstcoin in circulation the price will crash. But this depends on the random dates and amounts of assets that would be put up for sale in the future (Based on the random method).
Over all each to there own, this game isn't for everyone but can be played by anyone, and that was the goal. :)
@AngryChicken The problem here is that this asset creates a bunch of bagholders, who will lose out once the reset happens so I wouldn't make it into an asset. An asset is meant to benefit ALL investors equally..s if you just want to make a 'gambling game', just release a website and create a gambling game. Just my 2 cents.
@qibucks Also this asset borderlines a PONZI because it has no backing or real intrinsic activity..which would technically make it illegal as an ASSET. You need to just create a bubble game as a separate entity and not in the asset section.
@qibucks I understand what your saying but the point is to get people involved in the asset exchange there are already websites for gambling burst. Besides it can't be a "PONZI" because the user is informed of whats happening. That term refers to the Italian man that payed debt with other debt and took the interest without informing the investors
@AngryChicken maybe I am just a more conservative investor, but I can see the fun in it though.. :)
@qibucks Completely fair, like I said it's not for everyone and I was prepared for a lot of haters.
But all in all it's the most exciting asset on the exchange with the ability to out profit any asset.
This asset also has no one to rip you off as it's a traded asset among the users not the issuer.
This asset also can't be shutdown unless one person obtains all the assets in circulation, which would cost at least a hefty 21 million Burst (One of the reasons I put a 1 Burst price on this asset)
Lastly, all profits are going right back into burst in several different ways.
Thanks, for your likes and feedback!!!
But all in all it's the most exciting asset on the exchange with the ability to out profit any asset.
It is statements like this that are the most misleading... This is not an Asset, it is at best a zero sum game. If there are profits for some then there will be losses for others.
Awesome, 24 hours and 6,000 Down!!!
@RichBC I understand that you don't like the concept for yourself but an asset by definition is "A valuable item that is owned.". This has value, and is owned by an individual thus making by definition an asset. A car is an asset that over a period of time goes to zero. As far as I'm concerned the asset exchange is being used properly and for it's intended purpose. I just made it more fun rather than numbers slowly changing. :)