What is an Asset Exchange?


#1

I won’t post the actual web site, but I ran across an Asset Exchange and I’m curious what one is, what does it do, and why I might be interested in it?

Is it just a pool with extra stuff?
They mentioned an Initial Sale, but that sounds odd when I can just start mining myself.

Inquiring minds want to know.
Thanks,
Paul


#2

@MasterMC the asset exchange, for BURST. is a feature in the wallet where you can trade asset.

Assets are a token on the BURST blcokchain that can be exchanged for BURST on the asset exchange.
:blush:

1a. Subject to further developments, no discussion of assets on the exchange is permitted in anyway. This includes ID’s and names of assets. Only topics regarding the technical nature of the asset exchange are allowed.


#3

I was trying to be technical and I didn’t mention any IDs or assets.
Only curious what they were in general, technically speaking.

Thanks


#4

I’m sure she didn’t post that because you were breaking any rules, just making sure people read it :slight_smile:

Well, an asset can be anything. It basically creates your own token on the Burst blockchain. Most people use it in a fashion very similar to stocks. You have something of value to people, and sell shares of it. The AE has functions that allow you pay dividends to these shareholders, and also people can trade them on the AE market.

So, say for example, you have a 100TB miner. You create however many tokens you wish, and offer them tor sale on the market at whatever price you wish. You then can pay out mining dividends to shareholders.

Unfortunately for the community, the asset exchange has lost many people a lot of money. Reasons include flat out scams, mismanagement of funds, inexperienced people creating assets that are destined to lose everyone money…etc etc


#5

I agree @ryanw. No offense taken.

I get it now. It is a feature of the blockchain and not necessarily anything to do with mining or pools.

Cheers


#6

Yes, exactly :slight_smile: