Bitcoin Forum

Hello.  For those that know it give me your thoughts and long term potential of BURSTcoin?

http://web.burst-team.us/

It has a very green/eco friendly way to mine, where anyone with a space on a hard drive can do it.  Basically extremely cheap to mine.

Will have a way to mine on a smart phone soon.

It's established (about 2 years) and seems to have a pretty good community behind it.

Has smart contracts, asset exchange, a potential marketplace, and other features that make it unique and seemingly would have mass appeal.

Very cheap around .0007 USD and around #80 at coinmarketcap.com.  Will be capped at 2.1 billion coins (1.5 billion mined so far).  

Seems like it could take off BIGTIME, any thoughts?

Heh.

Meaning?

Burst is making some innovation and for now it is all a big experiment for now. Trade the coin if you want but treat like a test net and do not hold for the very long term. Always be safe.

Does that mean I can mine Burst on a laptop without spoiling the machine or buying additional gadgets like GPU and the likes ????

Yes...if you have extra space on your hard drive you can.  You have to "plot" your hard drive, which takes a little time...but then you can mine away.  Very green/eco friendly way to mine.  Read up on it...

Is there any possible disadvantage that can come from plotting your hd?  I heard conflicting reports on how much hd space is actually needed.   If you give it more, your profit is greater, but on some systems it didn't seem to take too much space, if I remember correctly.  So, if you make several different plots in your hd, it will use up up some of each one? 

I don't disagree in theory...but I would never put anything in a very speculative investment I couldn't afford lose.  That being said...if you just want to trade/day trade that's fine (not necessarily specific to Burst, but in general)...but if you never hold you also will never hit a big one.

I know a family that invested early in a company in Omaha, NE...they bought and held.   They now have money coming out of their ears because it turned out to be Berkshire Hathaway.  Many were happy when Bitcoin got to $10 (or whatever)...others...well you know.  Certainly the exception rather than the rule though.

I'm conservative by nature, but sometimes you gotta take a risk as well.  Burst may be something I do that with.  :)

I'm not an expert...I would go to the Burst site and ask the question on the forum there.

Obviously the more space you have the better it will be.  I've been mining and from my experience the impact on my computer is minimal.  It doesn't impact the computer much (I'm still mining in the background when using my computer).  And in general the "cost" is just the electricity of having your computer on.

It's pretty cool...

That is funny. Show me someone who is like Warren Buffet running the Burst project and I will believe you. I did not want to say this but Burst could be another scam. Time will tell if it is.

Why did you compare Burst with something as extremely fundamental to Berkshire Hathaway? Buffet invested in companies that have true value and earning revenue. Do you think he will invest in Burst?

Possibly? Not sure, i just tried to plot today it takes so long until now the hdd is still not yet plotted, maybe it takes day :/

Just another slap in the face of Bitcoin and everything it stands for. Avoid these jokes at all cost.

You're missing my point...I'm not specifically tying Buffet to Burst or making that comparison.  The point was when this family invested decades ago (and held) no one knew who Buffet was or what he could do (obviously).  And obviously not comparing Burst to Berkshire... was talking taking risk in investing in general.

Please expand on your scam comment.  Burst has been around for 2 years, has developed their unique mining method...it does not have a feel of pump and dump operation at all.  Doesn't mean burst will be wildly successful but it doesn't feel scam like to me (from what I've read/researched).

That's a serious accusation...please expand on it? 

BURST (and Qora as well, same developer), is the first coin to have a turing-complete smart contracting system, it beat ethereum to the punch and doesn't have the market cap to show for it.  Keep that in mind when you see people calling it a scam.

Expand on that.  You think because Burst doesn't have a large market cap presently (even though it was ahead of the curve with smart contracts) that it isn't a good coin/investment?

Or you think people don't realize what it can do with smart contracts,etc and it has untapped potential?  

You are missing my point too. That is still not a good example. If you want to talk about a success story that a Burst long time holder can possibly look up to it is the story of the first adopters of bitcoin. Those people who mined and traded bitcoin when it was under $1 is a better comparison to the present state of Burst. But do you really think Burst will become the next bitcoin? The cryptosphere has changed a lot since 2009.

Also I am not saying that Burst is a scam. I said that it could be a scam. I did not mean anything bad I was only proving a point to be careful in the cryptosphere because all of the scams make you think that they are not a scam. So be careful before you commit.

Once again...I wasn't trying to make a direct comparison  (Burst/Buffet)... I was merely making a point about investing in general.

You obviously think there is something funny with Burst (or you wouldn't have made your original comment)...so as someone who may invest in the coin can you please give specifics why you think "it could be a scam"?

Thanks.

I like QORA  ;D

QORA and Burst linked no?  May be able able to do cross-chain transactions moving into and out of burst/qora/bitcoin without an exchange.

I am sorry if you received the wrong impression but I only mean that as a general statement. For Burst specifically I do not think it might or might not be a scam. But you should always be careful and do not forget that these altcoins are more experimental. So my advice to you is to treat them as a testnet for the future cryptocoin projects.

Ok...I guess you shouldn't have phrased it the way you did.  Thanks for your feedback though.

I understand the risk with alt coins, I'm not totally new to the space.  But I'm not looking to place my life savings in one either.  I have many conservative investments and presently looking at some higher risk/reward situations.

If anyone else has opinions on BURST...have at it.  

I think along the lines of the latter.  I can't really tell you if it it'll ever have genuine adoption or not, but as far as the speculation game is concerned that doesn't honestly matter very much (see potcoin).  The very system that supposedly makes Ethereum so valuable BURST already had coded for it by Ian Knowles (CIYAM), and it hasn't gotten the attention to show for it.  So yeah I think it is potentially one of the best investments you could make right now.  I'd definitely put it in my top 5 for altcoins, at least from a speculative standpoint.

Burst is something the general public can do without any additional hardware nor electricity usage.   I think it can succeed if it has product evangelists.

Agree Melon.  I think Burst needs better awareness/marketing/promotion to get the word out and help it grow.