This is nice:
https://poloniex.com/support/aboutMarginTrading



I hear you.. crowetic is awesome, I do trust him and consider him a friend but I want to know what's going on in my wallet.

The solution I see?  Blockchain trimming.  Burstdev and I came up with a way, that we can literally make the blockchain 1/100th of the size of the wallet while maintaining the same trustlessness.  This is based off of cryptonite's blockchain trimming algo but with our own unique twist that significantly shortens the chain while upping the difficulty of faking the chain.

Unfortunately, most people also can't code and even if they can it is time consuming to look through the code and make sure offline wallets are sending your passwords places you don't want them to go.  So we are stuck trusting a little bit at the moment.  A really nice tool would be one where you could prepare the transaction on an offline computer and visually verify the fields of the transaction and copy it to an online computer for anyone serious about security.

I definitely see decentralized exchanges as the future,  fixes the Mt Gox problem!

I'll throw in 50k, making it: 2,700,000

Not trying to be cheap, it's an important feature.. just feel like there are other features that are much more important such as blockchain trimming, instant transactions, etc.

And let's face it, we've already got a pretty good privacy (no pun intended) feature, send your coins to an exchange, then send them back out to a different wallet address and it's pretty much as good as a mixer for those who really care about such a feature.. unless your a criminal who are the only people who really need privacy that is better than that at the moment.

I'd like to see blockchain trimming above all else, it's the one that most highlights a huge advantage of POC over POS.  Also it makes it much easier for new customers to try out our coin, wallet, and features if it's fast and easy to start the wallet.  I'll commit 500,000 Burst to blockchain trimming.. of course given enough time I'll implement it myself.  I've got all the necessary steps in mind and I'd be happy to help someone willing to implement it.

What`s about our dev?
Last Active:    May 01, 2015, 09:08:39 PM


He's still alive and working on some stuff.. just not posting much.  Which I don't mind.. better he works hard then spends his time reading every single message.

But you want to get more devs onboard, awesome!  Contact your local university and ask for interns.. great time of year to do it too.

@bitladen, you were saying that Burst will fail because it isn't distributed well enough.  The way I see it, it's far better distributed than BTC was at our size.  But by the same token, a coin(or company) is much more likely to succeed if you've got some people who are very well invested into it and have to work hard to make sure that they make money on the money they've invested.

This current dump is just bears getting off board, we'll be just fine in the long run and as you mentioned, it's great that we have an opportunity for new people who understand why POC is a big deal to come rushing in and be able to buy more.

Here's a topic to spark conversation:

Should Proof of Capacity be patented?

Burstdev seems to not be in favor of it.. so maybe it's a non-issue but I want to hear your thoughts.

I would patent it and for the sake of retaining decentralization, whoever owns the patent(I'm thinking an LLC we'd set-up), would create another legally binding document that says that Burst always has rights to use POC.  So the patent can't later be sold and be used by a patent troll against Burst.

Very cool idea!!!

Burst is really cheap right now, why would you make your own coin instead of taking that time and energy and improving on Burst?

My two cents:  People don't realize why Burst and Proof of Capacity is a big deal, and we need to educate them.  I'm working on turning that paper into blog posts and I think that should help get people interested.

Proof of Stake has some serious flaws that PoC fixes.. and most people looking for a new mining method automatically figure POS is 2nd gen and the way to go and don't realize that POC is 3rd generation yet.  And let's face it, we haven't really marketed ourselves all that much.

The biggest project I think we need to stand out from POS?  Blockchain trimming.  Still no feasible solutions for a POS system.  I don't know if you guys realize just how big of a deal this is.. but it's a very big one.  Best case scenario a miner would have to download many gigabytes of trimmed blockchain using the current system.  POC miners can get started using on about 100kB even after a few years of blockchain.. and this could be traced back to the gensis for maximum trustlessness.  The ASIC resistance and other features of POC are pretty cool too.

And @bensam1231, you have some good points!  We do need to make some of our tools more user friendly.  So anyone can mine by just saying I want to use X GB on drive X to mine, it automatically plots and mines for you from that drive. And Smart contracts were being worked on but yeah, they aren't as friendly as they could be yet.

btw, I found a new intern for us!

Everyone please contact your local universitys or your own universities and ask them to help find interns! We may even be able to offer college credit in exchange for them interning for us.


What kind of project do you have in mind?

Thank you!  I'm sure we'll get a few people.. If they are interested they'll find BURST.

And good luck with the crypto gaming.. Pretty chill place to have BURST accepted.

How would you propose marketing Burst?

That would definitely help, you couldn't use someone else's transactions in your coin that had a new genesis block that have you lots of money but it still doesn't solve the problem of trustees knowing you have the correct genesis block and it isn't a blockchain full of garbage data.

So what if you call it a different coin? It's important for new clients to be able to trustlessly know they are on the correct blockchain. How can they do that in a Pure POS system?  I guess it's possible in a peercoin like system.

Though even there it's a much cheaper 51% attack on the POW pay of the system, only to end up with the same issue.  I guess that's why Ethereum is including a small POW for every transaction.. Though that doesn't really fix this specific issue either..

I just realized something.. it is impossible to make a trustless pure Proof of Stake cryptocurrency.

Let's face it, you have to get the genesis block from someone and you have to trust that person to provide you with the correct genesis block.

Thanks guys.. anyway for those who see the current prices and are doubting.. just know that big things are happening in the background.  There are a couple really interesting projects that I'm only keeping quiet so that our competitors don't take them and run with them first for example.  And that paper will be broken into smaller, easier to digest pieces and used to try to lure in some new developers and marketers.. and eventually customers.

And if you are doubting and saying Burst is unfortunately a pump and dump coin.. do something about it!  Write up a post for our upcoming blog about why you see potential in Burst for example.  Or contact some exchanges asking to be listed.  Or call up a college and ask if they are interested in letting their students work for us (they will be trained! Some java experience is the only thing I'd expect) in exchange for college credit. Or work with us to see if we can get some venture capital funding for this coin.

For example, Hedgy just got $1.5 million to get smart contracts working... something we already have working!!  We could do a lot with a million dollars in funding.

Or come up with your own idea for helping this coin succeed!

So, I've actually decided to stop working on the paper and break up it into pieces and write it up as a blog post.

But the paper has come so far.. so if anyone is interested, you are welcome to read it:
https://docs.google.com/document/d/13jG3F7uajhSsyT9GXDX86izmlBMf567_PbyOhUr_HGw/edit?usp=sharing

Warning, it's pretty long and in depth.. but I think I've made some interesting discoveries in analyzing Proof of Capacity and shown that it has a lot of potential.

If anyone has comments, let me know as my blog posts are going to largely be similar information and arguments.

I've started writing blog posts based on it.. not sure when that'll be ready to go.  Plus, someone has to create the blog first.

Just happens that at the moment you can likely buy more burst than you'll ever be able to mine for the same price.

Seriously amazing time to buy Burst.

Oh, and I was wrong, burstdev was a step ahead of me of course

The attack I was talking about doesn't completely work.. and I figured out a work around that defeats

Also, everyone met mthcl:  https://burstforum.com/index.php?threads/poc2-and-asic-resistance.796/
Guy has a good brain for algorithms and math, I met him while working on Nxt.

Warning, I would not want to be holding on to namecoin currently:  http://cointelegraph.com/news/114129/why-namecoin-didnt-take-off-a-cautionary-tale

Also, potentially some good lessons for us to learn as well.  In my opinion we need to figure out a good POC algorithm that is truly ASIC proof, which I'm convinced is possible.  Then after that we need to work on being as user friendly as possible and solving users problems.

Idk.. Not for long, inflation and volume is just so low for now. I still believe I this coin though.

Also, University of Pittsburgh is interested in providing is with interns top help us code. Could everyone contact your local university and ask for the same? I my opinion that is Bush's biggest weakness. We have one programmer, who is an amazing programmer but there is only so much one person can do and we really need a few more people developing the coin.