I'm not sure Microsoft is going to like that you "borrowed" their coin idea. Wink Still, interesting nonetheless, will keep tabs.
Since when does Micro$loth ever have original ideas? BASIC? Ported it from minicomputers. PC-DOS/MS-DOS? See the story of how they ended up with Seattle DOS as the "base code" for PC-DOS - and later retroactively paid for their theft rather than face a massive lawsuit. Windows? Stolen from Apple, who stole it from Xerox - THAT was an interesting pair of lawsuits - then stole parts of Unix for some of the underlying design concepts in NT and later. It's a VERY VERY long list.... Then maybe it will be Microsoft stealing some of the Burst developers' inventions. It wont be shocking that some parts of Proof of Capacity will be copied and improved for their uses. I have nothing against that for as long as they share the changes they made in the open source code. |
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I like the design, they are nice and done with taste. But can I suggest something? BTC's community has become a sub culture of its own and there are terms like HODL or TO THE MOON that only we can comprehend while the rest outside this community would not.
Theres also the Silk Road, the first darknet website to use BTC. Can you make that t-shirt? Silk Road with the camel logo.
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I'm not sure Microsoft is going to like that you "borrowed" their coin idea. Wink Still, interesting nonetheless, will keep tabs.
Well, original dev has long since left the project, and was anonymous anyway. Besides, this blockchain has been running for a few years now already  What did Anabet mean when he/she said borrowed Microsoft's coin idea? I wasnt aware that they came up with Proof of Capacity first. Where is their white paper, where is the patent? From my perspective, starting a project with an anonymous developer is a strategy some coins have copied from BTC to protect themselves from prosecution by the government in case their coin gains massive adoption and declared illegal. The story of Liberty coins come to mind. |
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Did the Turkish president say how he thinks BTC can contribute to financial stability and why he thinks that is? I have been holding BTC for a while now, and its not contributing to my financial stability. Its good now because its on a bull run, but what if the bubble bursts?
There are other contributions that BTC can bring to society but because of high volatility, its not financial stability.
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The key phrase that we should take into consideration is they may be violating the law. It said MAY be violating the law, not IS DEFINITELY or POSITIVELY violating the law. So that takes it in a legal gray area.
Its a warning from the SEC that they can harass you, but from my perspective, they cant do anything else about it. Its a bluff until we witness some celebrity endorser get prosecuted.
not so sure about that analysis. the "may" relates to whether the asset being promoted is a security or not. nobody is coming after mike tyson for his promotion of bitcoin ATMs -- those aren't securities. the company facilitating money transfers with the ATMS are probably considered MSBs and therefore need licenses and to register with FINCEN. but that has nothing to do with the SEC or with mike tyson. they can definitely do something about it. i think this is a warning to people like floyd mayweather before they really start coming after people. if celebrities are flouting the law this carelessly in 2-3 years, the hammer will be coming down on them. for now, i don't think anything will happen. Didnt you understand what I said? If the SEC said they may be violating the law, that doesnt mean they areviolating the law. Thats because they may not have some legal basis to form a case against someone. Its a just a warning or a bluff from the SEC. Those celebrities might have also consulted with their lawyers before endorsing anything. |
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There arent many miners that visit this thread anymore. Your best chance to get answers are on the PoCC's official forum or in their subreddit. You can also send Rico666 a private message. He can help point you to the right direction. I hope that helps. Welcome to Burst and good luck. |
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The best and trusted exchanges are now requiring their users to have their identities verified for KYC/AML. Its for the protection of the exchange in response to regulators' warnings concerning some ICOs that could be defined as illegal securities or assets.
But if you want to go around that, you can buy BTC over the counter and deposit it to HitBTC for trading. Its one exchange that doesnt ask for your ID as long as you dont require fiat deposts and withdrawals.
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We are now in an age of QE to infinity. There is no turning off the printing presses at this point. This is exactly why gold, silver and Bitcoins are going to be such powerful investments now and going forward.
Do you genuinely think that they are concerned? Have you heard your grandma say something like during her day the cost of a loaf of bread is a few pennies? Do you know why it costs about $2.50 today? Yes, inflation. The central banks have always been making the value of fiat go down. But guess who will take advantage of a collapsing system and invest in gold, silver and other precious commodities, BTC included. The same top 1% billionaires who have been messing with the system. |
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Some hinderances:
- Limited capital
- No web development experience or faucet experience
- No idea how to get started...
Some Pro's:
- Entrepreneurial Spirit
- Clear Vision, idea and what I want it to look like and become
- Motivated
- Analytic and problem solving mind.
Any advice or help is welcome.
I am sorry to tell you that your chances for success are very limited. The best you can do for now is to look for enough capital and hire someone with web development skills and the experience to do it for you. Even with that, its still a risk. We have seen many frustrated entrepreneurs in cryptocurrencies come and go. Some became scammers even because they know their idea cant be sustained for more than a year. But if you really want to do it, do it for your own enjoyment, not the success. |
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The key phrase that we should take into consideration is they may be violating the law. It said MAY be violating the law, not IS DEFINITELY or POSITIVELY violating the law. So that takes it in a legal gray area.
Its a warning from the SEC that they can harass you, but from my perspective, they cant do anything else about it. Its a bluff until we witness some celebrity endorser get prosecuted.
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Not agree with article. There are so many depends, what kid of energy spending for mining? Some mining farm placed in the locations with overage of energy and it is not possible to get money from this energy in other way
But wastefulness is wastefulness, and its not practical that all mining farms can collocate in a single area to take advantage of an untapped energy source. Theres also the problem of carbon emissions and pollution. We are destroying the planet and proof of work, while a leap forward for decentralization when applied on blockchains, is making things worse for the environment. - That problem is carbon emissions. De Vries has come up with some estimates by diving into data made available on a coal-powered Bitcoin mine in Mongolia. He concluded that this single mine is responsible for 8,000 to 13,0000 kg CO2 emissions per Bitcoin it mines, and 24,000 - 40,000 kg of CO2 per hour.
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Ty loopes. Too bad we didnt go on for another week.
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I opened a url for an article in motherboard.vice.com and I was hit hard at the moment I read the title, " One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week". This is what the Burst community and the PoCC have been fighting for. A more energy efficient form of mining because securing the blockchain and the blockchain itself is inefficient. I hope some of you can see beyond your potential earnings and start supporting a project that wants to make a difference. Here are some notes from the article. - Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins. That's about as much as Nigeria, a country of 186 million people, uses in a year.
- Bitcoin miners worldwide could be using enough electricity to at any given time to power about 2.26 million American homes.
- At a minimum, worldwide Bitcoin mining could power the daily needs of 821,940 average American homes.
- global Bitcoin mining represents a minimum of 77KWh of energy consumed per Bitcoin transaction.
- Digiconomist's less optimistic estimate for per-transaction energy costs now sits at around 215 KWh of electricity. That's more than enough to fill two Tesla batteries, run an efficient fridge/freezer for a full year, or boil 1872 litres of water in a kettle.
- That problem is carbon emissions. De Vries has come up with some estimates by diving into data made available on a coal-powered Bitcoin mine in Mongolia. He concluded that this single mine is responsible for 8,000 to 13,0000 kg CO2 emissions per Bitcoin it mines, and 24,000 - 40,000 kg of CO2 per hour.
- As Twitter user Matthias Bartosik noted in some similar estimates, the average European car emits 0.1181 kg of CO2 per kilometer driven. So for every hour the Mongolian Bitcoin mine operates, it's responsible for (at least) the CO2 equivalent of over 203,000 car kilometers travelled.
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Truly thanks for the support. The developers need it now more than ever. Without the community, I doubt that the PoCC would be interested taking over to improve the platform.
By the way, I know I said theres nothing big coming from Burst until the end of the year. But maybe there is one. I will leave Rico666 to tell you what it is.
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Why is there a need for a token for your project? Arent you aware that the whole market is already saturated on token scams mostly, with little space to accomodate more?
If you want your project to have a chance of success then I suggest waiting for a better time to work on it. But if its not another ICO, but a project you feel passionately about, maybe its worth releasing.
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A nice blog from one of Burst's greatest supporters, Tom Creance. He compares Proof of Capacity and Proof of Stake, and shows how PoC is better for decentralization and reaching consensus in most ways. Human evolution always goes towards more efficiency. It makes life easier and more productive. From my perspective, cryptocurrency mining evolution should be the same. Going further – a PoC and PoS comparison |
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Of course its safe. Its safer than some web wallet solutions out there even.
Its also hard to compromise bitaddress.org's code in Github because every change is done in transparency. Thats one of the advantages of open source.
Another thing you can do is run the zip file through a checksum program and post the hash somewhere for everyone to confirm. If theres a change in the hash, then you can check the code and look for it.
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Lucky for SmartCash holders.
HitBTC, please consider Burst. It has been around since 2014 and it has proven to be one of the cryptocurrencies to keep chugging along in spite of all the doubts and criticisms thrown at the coin and their team.
They are also now under the development of the newly formed Proof of Capacity Consortium. In a month, there might be a big announcement, I cant tell you what but it will need a new exchange to accomodate more people who want to invest.
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US based exchanges have gotten very strict about KYC/AML procedures, especially with users who belong in the US itself. Be patient and wait for verification to be approved before calling a lawyer. Poloniex is not a scam exchange, but they are being very careful these days. Theres also a chance that they will be open to sharing your name and trading history with the IRS. If you made a lot of money in trading, have your accoutant ready to know how much taxes you owe.
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