I appreciate the fact that youre taking an interest in the BURST AE, and I think your idea has good potential for arb, and more... That being said, would you mind giving us a bit more information on yourself? I am usually a large holder in new asses, but due to too many of them becoming scams, I'm much more leary about throwing my money in the direction of anyone anon...
Hopefully you can understand this and will release some more info and make the community feel confident. Thanks!
Indeed, my name is Bruce , I`m from a small scottish village from northeast. I`ve joined bitcoin in 2014 when it was in a downtrend, and even though I bought some at a higher price, I held on to it until 2015, when my next new love became asset and crypto tokens.
I`ve been trading assets on NXT, but the market there has just become a bear market and it's very hard to make money there.
Then after Ethereum came out, it became my next new love, because it has so much potential in it that I cant even explain it here. I`ve been trading altcoins on Poloniex for the past 1.5 year and I even have an altcoin portfolio setup that can be invested in, but I rather keep it private for now.
I am currently putting my maximum focus on Ethereum, and all of my other projects are on halt, so that is how this idea got born. Connecting BURST with ETH.
Why I choose BURST? Well, it's similar to NXT, and it has a vibrant community, and as I ready up upon it, you guys had very big breakthroughs in the past weeks. New wallets, active development. I think the BURST community is very well managed, so I would really like to be a part of this.
Interesting concept, however there's a problem with your asset price/volume. To sell out your asset would require 5.5 Trillion Burst - way more than the amount of burst that will ever exist, in fact your initial sale of 1M assets, requires 7.2Billion burst, vs the maximum circulation of 2.2 billion and current circulation of 1.1 Billion. Trying to sell an asset for 3000x the entire currency isn't going to work ....
And as Crow said, some more info about yourself would be appreciated.
H,
Thanks. No the asset volume and price is exactly how it should be. There are 77.5 million ETHER out there, and it's price yesterday was 72000 BURST.
I will update the price for today, but other than that it's correct.
When you buy 1 BurstETHER, you are buying 1 ETHER, which I`m going to buy on Poloniex and transfer it to the cold storage from where it can be redeemed, so I need to have 1:1 peg between the asset and Ether so that I can buy it on Poloniex.
Even if the supply is greater than that of BURST, it doesnt matter ,I dont think we will buy up even 1% of the ETH supply so it's not an issue, so it's just for accuracy.