Feedback wanted for a new project - Steem Factory. by pairmike

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steemfactory · @pairmike · Mar 21 '17 (edited)

$15.59

Feedback wanted for a new project - Steem Factory.

<html>
<h2><br></h2>
<p><img src="https://lh3.googleusercontent.com/JI2LvaJkG3-T1CYUVQvFASHVopZe7WaEDFJmsC3SlR7LWCQyLEF17fKz2PwHHro_YCeQ5LG9tg=s460" width="460" height="460"/></p>
<h2>STEEM FACTORY</h2>
<p><strong>Do you want to mine crypto currencies? &nbsp;Do &nbsp;you want to invest in crypto currency?</strong><br>
<strong>If you answered yes to either of these questions, the Steem Factory (SF) has been created to provide a solution for you.</strong><br>
</p>
<p><strong>Mining crypto currencies is not easy task for most people. &nbsp;It requires an investment in software and physical hardware, in addition to having a understanding of the cryptographic mining process. &nbsp;Another option is to buy a cloud mining contract in exchange for a specific hashrate.<br>
</strong></p>
<p><strong>Mining might not be of interest to you, but the possibility of earning crypto currency is. &nbsp;Sure you can write articles and publish them on Steemit.com as well as vote for content. &nbsp;Both of these are viable solutions and are a means to earning Steem. &nbsp;Steem Factory wants to provide another option.&nbsp;</strong></p>
<p><strong>What exactly is Steem Factory? &nbsp;Steem Factory is a project backed by a mining operation consisting of an KNC Titan ASIC Scrypt Miner and a Single GPU Raedon R7 server. &nbsp;The Titan ASIC mines Litecoin, Dogecoin and Viacoin. &nbsp;The GPU Miner mines Foldingcoin, Curecoin, and FolderPepe. &nbsp;Steem Factory wants to share these proceeds with others in the Steem &nbsp;Community.</strong><br>
</p>
<p><strong>Steem Factory will create a User Issued Asset or Token called STEEMFACTORY to distribute to the members and voters who support this project.&nbsp;</strong></p>
<p><strong>Let’s say the Steem Factory weekly mining operation profited $100.00 for the month, the STEEMFACTORY Token will be issued to voters and members. &nbsp;The rationale for issuing a token is to link a virtual currency to an income producing business. &nbsp;Thus holders of STEEMFACTORY token could trade in a secondary market on the BitsharesDex.</strong></p>
<p><br></p>
<h2><strong>Future Ideas</strong></h2>
<p><strong>In the future, the Steem Factory project could add value by the following activities:</strong></p>
<ol>
  <li><strong>Buyback STEEMFACTORY UIA to potentially increase the value for existing holders&nbsp;</strong></li>
  <li><strong>Donate to various worthwhile Steem Community projects and causes. &nbsp;For example, contribute funds to Steemprentice Initiative.</strong></li>
  <li><strong>Donate funds on a quarterly basis to Steem newbies and Minnows.</strong></li>
  <li><strong>Sponsor Steem Community Developers on projects that enhance the Steem Network</strong></li>
  <li><strong>Donate funds to various Steem contest</strong></li>
  <li><strong>Long Term Goal - Use funds to buy into ICOs of Blockchain Related Projects. &nbsp;Think the of fund as a Crypto currency Venture Fund.</strong></li>
  <li><strong>Possibly Hire Steem Community Members for Steem Factory tasks</strong></li>
</ol>
<p><strong>So there you have it. &nbsp;Now I need your feedback:</strong></p>
<ul>
  <li><strong>I will publish a mining report on Steem to list the income and expenses of the mining operation. &nbsp;I'm thinking about publishing this weekly or monthly. &nbsp;What would be better?</strong></li>
  <li><strong>I'm thinking about offering 3 membership types for this project. &nbsp;&nbsp;What do you think about this?</strong>
    <ul>
      <li><strong>Lifetime memberships - reward multiple of 5</strong></li>
      <li><strong>Annual memberships - reward multiple of 3</strong></li>
      <li><strong>Monthly membership - reward multiple of 1</strong></li>
      <li><strong>The reward multiple represents the amount of the payout for members. &nbsp;</strong></li>
    </ul>
  </li>
  <li><strong>In the Future ideas section, I listed 7 potential value propositions. &nbsp;What do you think about these? &nbsp;Would you like for Steem Factory to support these or not?</strong></li>
</ul>
<p><br></p>
<p><br></p>
<p><br></p>
<p><br></p>
</html>

👍 benjojo, fuzzyvest, freeyourmind, snowflake, engagement, someonewhoisme, hanshotfirst, ajvest, xeroc, rok-sivante, dollarvigilante, roelandp, slowwalker, papa-pepper, thecyclist, lichtblick, shenanigator, asmolokalo, michaeldodridge, robrigo, rossco99, charlieshrem, sunshine, voronoi, htooms, pal, ausbitbank, awgbibb, hilarski, serejandmyself, thecryptodrive, ethansteem, fyrstikken, barrycooper, michelle.gent, bue, gregory-f, berkah, xanoxt, steem-id, lovejoy, ihashfury, blakemiles84, pairmike, biophil, venuspcs, fiveboringgames, sandra, brendio, luzcypher, krystle, jason, dexter-k, grandpere, masteryoda, tracemayer, sharingeverybite, isteemit, ballinconscious, elgeko, everythink, triddin, clayboyn, dylanhobalart, and 178 others

`author`	pairmike
`permlink`	feedback-wanted-for-a-new-project-steem-factory
`category`	steemfactory
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properties (23)vote details (242)

voter	rshares	pct
berniesanders	7,404,663,054	3%
penambang	7,674,567,863	30%
berkah	39,054,234,361	30%
fuzzyvest	1,144,418,003,912	22%
sandra	26,955,361,431	75%
ihashfury	31,048,037,960	51.75%
rossco99	168,114,931,119	15%
boy	2,572,778,015	100%
xeroc	345,269,838,304	15%
steem-id	32,975,700,425	15%
bue-witness	3,136,447,587	100%
bunny	500,558,661	100%
ajvest	385,959,281,078	100%
bue	50,307,869,991	100%
mini	1,375,564,752	100%
moon	175,361,519	100%
lovejoy	31,952,866,970	15%
jason	24,164,948,748	51.75%
masteryoda	22,254,725,838	43%
benjojo	1,462,705,651,296	100%
pairmike	29,995,487,589	30%
pheonike	11,146,986,546	6%
proctologic	3,792,435,988	1%
healthcare	513,341,576	100%
daniel.pan	811,464,123	100%
konelectric	409,553,938	1%
helen.tan	235,015,882	100%
brindleswan	701,512,907	3%
gregory-f	47,257,350,592	100%
forrestwillie	548,269,242	1%
instructor2121	11,920,904,155	30%
pal	97,722,068,726	26.31%
lola-carola	289,944,542	30%
kodi	510,803,741	100%
blakemiles84	30,651,367,859	15%
theshell	12,689,047,124	15%
drinkzya	3,057,609,644	30%
rok-sivante	325,578,271,676	43.85%
wingz	3,403,958,128	43.85%
pangur-ban	627,273,959	30%
ratel	9,459,131,479	30%
thecryptodrive	60,338,391,150	30%
andrei	238,901,035	1%
everythink	18,724,802,518	43.85%
schro	7,225,552,771	15%
michaelx	6,959,748,890	15%
grandpere	22,852,019,565	24%
albertogm	9,700,438,206	30%
christoryan	3,359,149,718	24%
crok	2,352,640,464	30%
christoph3	1,590,205,038	30%
tyler-fletcher	2,220,246,031	30%
tskeene	14,677,057,763	100%
magnebit	317,414,857	43.85%
razvanelulmarin	4,166,421,585	30%
fyrstikken	52,757,051,883	0.75%
isteemit	19,714,182,548	30%
skapaneas	11,480,931,492	30%
venuspcs	27,538,821,892	30%
asmolokalo	203,203,847,327	100%
roelandp	284,633,166,913	15%
nerdlab	484,127,955	30%
riscadox	2,813,931,732	43.85%
robrigo	173,012,653,190	43.85%
slowwalker	232,194,816,935	10%
ausbitbank	95,134,843,236	100%
mrwang	12,675,482,728	30%
vl248	4,708,082,368	30%
freeyourmind	577,549,406,318	43.85%
biophil	29,641,935,803	43.85%
jamesjarman	1,707,034,872	1%
jaycobbell	4,325,673,639	30%
condra	14,647,208,748	30%
raymondspeaks	5,127,967,651	30%
karenmckersie	2,238,490,661	1%
luisucv34	9,107,806,554	100%
krystle	25,922,889,295	100%
rouketas	58,838,136	100%
lichtblick	210,048,720,745	100%
fiveboringgames	27,234,822,411	21.92%
phenom	10,647,563,514	30%
ubg	590,145,280	3%
bitcoiner	11,896,917,186	15%
jedau	5,897,867,654	30%
papa-pepper	228,047,919,080	100%
michaeldodridge	200,297,584,550	100%
tygergamer	10,144,898,301	30%
tjpezlo	12,331,828,890	100%
nelu.ceban	902,551,018	30%
bkkshadow	1,639,120,790	1.5%
youngkim	437,197,281	1%
steemdrive	429,942,565	30%
bergy	868,080,519	43.85%
dirty.hera	55,792,013	30%
gomeravibz	7,131,994,908	18%
craigslist	347,556,508	100%
always1success	3,159,930,626	30%
sunshine	120,324,521,924	100%
brendio	26,694,889,475	18%
timelapse	463,357,587	1%
snowflake	486,280,880,395	43.85%
steemleak	1,963,061,621	100%
steemradio	221,478,938	30%
darthnava	432,308,542	1%
cmorton	758,635,360	6%
hanshotfirst	409,306,158,176	100%
philipnbrown	821,483,530	43.85%
virtualgrowth	1,561,740,745	10%
seadroo22	1,194,502,764	30%
dollarvigilante	315,001,686,231	30%
serejandmyself	71,626,430,411	30%
awgbibb	84,221,248,850	100%
ethansteem	56,916,279,139	43.85%
lasseehlers	421,379,658	1%
barrycooper	51,283,850,771	30%
sethlinson	5,151,693,570	30%
hilarski	76,720,160,057	30%
imag1ne	197,666,411	15%
leno4ek	884,139,874	30%
nulliusinverba	4,321,133,675	30%
barrydutton	1,770,051,305	1%
sharingeverybite	20,959,876,919	43.85%
shenanigator	208,848,867,295	43.85%
charlie777pt	3,120,486,231	12%
steemitguide	547,146,302	1%
mikehere	7,082,046,311	30%
richardcrill	1,468,053,336	1%
randomli	827,292,237	30%
xanoxt	37,799,617,962	100%
maryfromsochi	400,823,960	30%
kralizec	2,305,806,356	30%
thecyclist	226,817,183,659	3%
zettar	634,723,298	30%
jacobts	308,138,460	1%
mindhunter	1,423,051,100	1%
finleyexp	175,175,875	30%
dexter-k	23,583,744,000	30%
patelincho	238,983,159	1%
charlieshrem	120,481,787,510	30%
tracemayer	22,188,692,041	30%
burnin	4,784,427,116	30%
ballinconscious	19,702,404,233	43.85%
jeanviete	1,354,988,860	100%
michelle.gent	50,571,266,524	30%
bestofreddit	1,951,071,190	39.46%
clayboyn	16,470,067,273	30%
develcuy	2,285,957,868	30%
thegame	521,404,852	10%
haphazard-hstead	12,425,221,008	30%
steembets	553,843,936	10%
luzcypher	25,938,019,075	30%
dylanhobalart	14,916,210,382	100%
thesteemawards	169,132,071	8.77%
killbis	2,299,820,390	30%
ninkhisibir	600,313,558	15%
orenshani7	2,301,158,125	30%
miqdad	53,302,334	30%
rgeddes	802,190,547	18%
thetruthhurts	339,145,900	43.85%
tdv.witness	8,706,547,336	30%
stray	474,860,639	1%
hardank	4,669,210,549	42.54%
sherry-dow	50,175,155	30%
ianboil	1,561,341,467	30%
ebryans	4,354,822,925	15%
judasp	11,144,594,174	100%
sstefan	1,574,842,174	7.5%
daisyd	378,830,946	1%
garvofe	2,196,779,025	12%
steemland.com	530,854,392	10%
voronoi	117,430,410,304	100%
angel76	10,749,084,128	100%
sqube	2,981,983,344	1%
maxse	1,296,243,737	30%
whatageek	832,670,528	1%
gardening-trail	1,920,720,175	30%
business-trail	307,401,350	30%
crypto-trail	111,334,772	30%
foraging-trail	1,010,545,569	30%
johnathanhenry	50,146,177	76%
nikflossus	12,041,204,708	30%
baerdric	8,241,675,005	30%
alex1983ch	1,392,420,691	30%
hopehuggs	6,475,503,437	43.85%
ozymandias	882,300,564	43.85%
yadamaniart	9,536,140,401	30%
steemprentice	4,624,181,466	10%
reisman	731,032,587	43.85%
engagement	442,062,872,115	3%
sellergenius	809,247,489	30%
seablue	2,081,237,469	1%
timm	124,506,867	30%
steemittalk	2,537,943,227	30%
valth	14,283,134,935	43.85%
gildar	1,310,754,505	30%
soushi888	11,459,073,344	100%
pizzagate-trail	711,764,092	30%
madlenfox	5,753,652,770	100%
simply1moore	461,568,840	30%
jphenderson	104,702,340	10%
tamersameeh	214,834,070	30%
steemnews.online	1,545,661,268	30%
em3di	2,843,714,132	100%
adambalm	5,215,695,744	30%
standpoint	87,918,516	30%
michaeladamparis	2,322,101,196	12%
someonewhoisme	417,817,184,979	43.85%
alexandergomez	9,701,125,141	100%
triddin	17,920,735,630	30%
alohaoy	651,501,639	30%
cheah	4,476,816,464	30%
fiction-trail	1,335,801,258	30%
rahul.stan	194,105,703	26.31%
riskdebonair	1,031,780,613	1%
poetry-trail	551,830,429	30%
paleo-trail	151,596,856	30%
elgeko	19,250,373,604	30%
cgame	2,231,570,188	43.85%
mage00000	2,277,832,086	43.85%
ogochukwu	1,971,056,964	30%
toyblackhat	180,362,866	15%
smalltalk	383,747,723	8.77%
tonylondon	260,069,988	30%
vrezh	73,454,301	30%
climatechange	54,683,947	30%
benjiparler	94,193,688	30%
steemstock	134,648,093	30%
mestyz	60,778,538	100%
ambyr00	3,020,815,795	30%
robertdurst10	3,217,641,836	100%
evildeathcore	456,906,952	30%
manandezo	386,390,134	100%
sixexgames	431,529,849	43.85%
lovecoins	102,058,509	30%
tincho	576,429,184	30%
theregularguy	4,913,051,795	100%
htooms	110,108,493,428	7.5%
businesswri	396,808,184	100%
dimitrya123	0	100%
andilorenzo	269,335,875	100%
alokkoshal	783,575,299	100%
bwomm	0	100%

@andilorenzo · Mar 22 '17

Thank you information post.
i like it

👍 pairmike

`author`	andilorenzo
`permlink`	re-pairmike-feedback-wanted-for-a-new-project-steem-factory-20170322t110103534z
`category`	steemfactory
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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
pairmike	0 B		86,466,255,544	100%

@pairmike · Mar 23 '17

Thank you.

properties (22)

`author`	pairmike
`permlink`	re-andilorenzo-re-pairmike-feedback-wanted-for-a-new-project-steem-factory-20170323t171534515z
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@benjojo · Mar 23 '17

Please could you elaborate on a few points? 

Will the voting rewards of members exceed the expenses from the mining operation?  Is the STEEMFACTORY UIA backed only by the mining profit?  Does the excess voting rewards from members go into a fund which you will control in order to fund the extra value activities?  What are members required to do?  What will your reward be? How will members be able to influence how the excess voting rewards are spent?  Is your intention to scale up the mining operation depending on support to generate additional profit?  How many STEEMFACTORY units will be created and what is their present market cap based on current mining profit?

Sorry for all the questions and sorry if I've misuderstood a lot of how it will work.  It seems like members will be changing their vote rewards into mining returns commensurate with their STEEMFACTORY holdings and for that service you'll take a fee with the excess going into a fund.  

I think this business model will become more common and it's important that we are careful the Steemians and the Steem Economy come out with more than they put in and that will depend on the value proposition, management of excess funds and efficiency of the service.  

Anyway, I'm interested to know more and if it sounds good, I would love to support your initiative!

👍 pairmike, soushi888

`author`	benjojo
`permlink`	re-pairmike-feedback-wanted-for-a-new-project-steem-factory-20170323t093309617z
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properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
pairmike	0 B		90,225,657,959	100%
soushi888	0 B		11,459,073,344	100%

@pairmike · Mar 23 '17

$0.23

Benjojo, 

First, thank you for the feedback.  

-  Will the voting rewards of members exceed the expenses from the mining operation?
>No, I don't think so. The true total expenses exceed about 400 USD/mo.    I'm donating the use of the mining equipment, so the modified expense line is about 100 USD/mo for electricity.

-  Is the STEEMFACTORY UIA (token) backed only by the mining profit?  
>Yes, in the beginning.  In the longterm, I'd like to invest in other crypto projects to increase the value of the token.

-  Does the excess voting rewards from members go into a fund which you will control in order to fund the extra value activities?
>Yes, if any.

- Members will be ask to vote and promote.   The memberships will payout at different rates:
> Lifetime = 5x payout
> Annual = 3x payout
>  Monthly = 1 x payout
>  
>  What do you think a fair price for memberships should be?

- What will your reward be?   
>My reward will be profit percentage of the combined income streams.  

- How will members be able to influence how the excess voting rewards are spent?  
>Votes from the membership.

- Is your intention to scale up the mining operation depending on support to generate additional profit? 
>No.

- How many STEEMFACTORY units will be created and what is their present market cap based on current mining profit?  
>1 Million STEEMFACTORY UIAs will be created.  I have not figured out the mining cap because the UIA is not trading yet.  

**Benjojo.... Are you considering starting a project as well?  If so, I'd like to hear about it.**  

I hope I have answered your questions adequately concerning this  project.  Keep in mind, some things may change.  I'm still receiving feedback.


Thanks @pairmike

👍 benjojo, soushi888

`author`	pairmike
`permlink`	re-benjojo-re-pairmike-feedback-wanted-for-a-new-project-steem-factory-20170323t171427052z
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@benjojo · Mar 23 '17 (edited)

Thank you for answering all my questions pairmike. In order to work out the cost of membership, t think you'll need to work out how much profit your initiative is likely to generate in one year, what your percentage will be and how many places will be available at each membership level assuming every place is filled. The cost of membership can then be made appropriate to the return. You will need to consider the value of the account becoming a member as different accounts will contribute different amounts to the fund.

Is the profit from the mining fairly stable? There is only room for so many members to participate.

Another consideration is as an account is allocating from the reward pool, the funds are not theirs, simply the power to allocate those funds. So will members funding your initiative at different rates care about receiving similar returns simply because they would not otherwise have received anything from the application of their power?

Finally.....and I have no idea if this is feasible. Is there a way to only take accounts that agreed to put their returns back into the Steem Economy by agreeing to only sell their STEEMFACTORY UIA for Steem and then using that Steem to invest further in Steem related projects or hold it as Steem Power for a certain period of time? That way Steem gains value from the mining, an activity outside of Steem, and brings it into Steem as additional additional demand for Steem and investment capital.

What we have to try to avoid is hundreds of initiatives starting up where the reward pool is diverted to accounts that then give rewards back to those same accounts. Rewards that possibly should have been for accounts that are adding value to the Steemchain in the ways intended. It's also worth considering what would happen if these kinds of initiative became really successful, the owners would be controlling more and more of the reward pool and having a growing impact on where the funds were then spent. This would potentially be a force for centralisation of steem power and a massive potential leak of economic potential. Obviously there is likely to be competition which will hopefully favor initiatives that favor Steem!

I don't have any big projects in the works. I'll let you know if that changes :) So busy working for the man still.....but I do have some exiting changes on the horizon.

All the best and I'm still very much interested!

👍 soushi888

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@brindleswan · Mar 24 '17

Love this idea. Would like to make it a part of my upcoming Greater fOoLs' Club.
Resteemed and sent you a 5 Steem Tip. Not upvoting anyone any more till N squared gets changed.

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@pairmike · Mar 24 '17

Thanks Brindleswan.

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@pairmike · Mar 28 '17

brindleswan, 

Send me your bitshares dex username and I'll send you STEEMFACTORY.  Thanks for your support.

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@brindleswan · Apr 20 '17

Don't know how I missed this. Better late than never.
@brindleswan on the bitshares dex goes by the handle . . .
drumroll please . . .
shmitoshi

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@lichtblick · Mar 23 '17

Interesting project. Resteemed :-)

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@pairmike · Mar 28 '17

Guys, 

Send me your Bitshares DEX username and I'll send you a STEEMFACTORY UIA.  Thanks for your support.

Check out the project announcement [Steem Factory is Live](https://steemit.com/giveaway/@steemfactory/steem-factory-is-live-user-issued-asset-giveaway-steemfactory)

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@paolobeneforti · Mar 23 '17

watching

👍 pairmike

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@pairmike · Mar 23 '17

Thank you.

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@papa-pepper · Mar 23 '17

I certainly like the general idea and I  appreciate the effort you've  put into this so far. 

Once some more of tge details arevworked out, I would consider getting involved in something like this!

👍 irawandedy

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@pairmike · Mar 23 '17

Thanks Papa.  Hey what about that Japanese Maple Tree?

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@papa-pepper · Mar 23 '17

That will be my next propagation technique. Very soon!

👍 irawandedy

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@screenname · Mar 21 '17

Re: Feedback wanted for a new project - Steem Factory.

<p>This post has been ranked within the top 50 most undervalued posts in the first half of Mar 21. We estimate that this post is undervalued by $5.88 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-mar-21---part-i">The Daily Tribune: Mar 21 - Part I</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>

👍 pairmike, soushi888, matrixdweller

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@virtualgrowth · Mar 21 '17

Love this idea and thank you for the opportunity for adding my input.  Look forward to helping to bring this idea and many others to life.

👍 pairmike

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