It has been an excellent start of the month for the N.E.W.S. Asset team with the launch of the N.E.W.S. Mining Pool and the purchase of new hardware for our very own mining rigs. With close to 19TB of mining space already allocated (this should be in a few days, maybe a week, once they’re done plotting) and another 40TB incoming in the next week or two (maybe up to a month if we’re counting plotting times), we’re just inches away from our first mining milestone of allocating 100TB to N.E.W.S.’ own mining pool.
Now with that, we have received concerns that this would not be “fair” to the early asset purchasers. After going through our inventory, we have realized that these concerns are correct. N.E.W.S. has performed superbly during the past few weeks and the current value of our BURST Mining Rigs, Ethereum Mining Rigs, Burst-Forum Assets, Coins and Positions on Poloniex and Mining pool income has surpassed even our initial estimates.
So with this, we are announcing that from today (November 8, 2016) the N.E.W.S. team will only make available another 60,000 assets before we completely stop selling assets on the exchange and will do a consolidation of all assets.
Will payouts stop?
Since income is ongoing (remember, multiple income streams and we don’t rely on asset purchases to fund payouts), payouts to asset holders will continue as normal.
So what’s the big fuss?
After we stop making assets available on the exchange, we will do a full audit of all equipment on hand (by then we’ll have hit 100TB mining power on the pool) and do a full valuation of physical and virtual assets. Conduct new profitability projections and adjust asset values to reflect the current value of all the asset.
What does this mean for asset holders?
As with any company, growth makes shares in that company more expensive, and we’ve shown growth that was much more than we expected but we currently have not yet adjusted asset price to reflect. Base Asset values will INCREASE, which means that your current assets will be worth more if you ever decide to sell them on the exchange. And this will make the price of future assets (when we decide to re-open asset sales on the exchange) higher.
Will you open up to new asset sales in the future?
We’ll cross that bridge when we get to it. Meaning, yes, we’ll open up again to new asset sales for growth, but for the definite date, we can’t say when. It could be a month or two from when we stop the asset selling to when we re-open asset selling. The short-term goal is streamlining and setting target batches (ie: selling assets in batches, let’s say for purchase of 100TB equipment or X number of cards for hashing, etc) since we can no longer go with the “Buy when able” strategy.
Why?
Buying equipment when able works, but it’s terribly inefficient. We’re losing money on shipping fees, time lost, setup, by buying piecemeal. Not big losses, but this is basically wasted resources that could go to asset holders in the form of dividends. (ie. Paying $10 for shipping one component, and then paying another $10 shipping next week to buy another component, when they could have been bought at the same time and saved on the second $10 shipping, etc…).
So, that’s it for now. Happy Bursting!
Please tell us your thoughts on this by leaving your comments below.
Send us an email newsassetteam@gmail.com
Find us in alttech.chat https://alttech.chat/alttech/channels/news-asset-channel
or message me directly in the forum chat https://forums.burst-team.us/user/jervis.
Your feedback is very much appreciated. Thank you very much.
NE.W.S. Asset Team
Yeah! That’s was all that I wanted! Your absolutely correct.
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