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I agree with toptek's comment above. ASIC mining for ETH will centralize its mining process and give ASIC companies like Bitmain more power and it will have some capacity to effect Ethereum's development.
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No because those ASIC miners will be useless by December, 2018. Ethereum will be switching to their new PoS system called Casper, remember?
It will also be a losing investment by Bitmain and the rest of the ETH ASIC producers, if you ask me.
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Some Burstcoiners will see this as a threat but truthfully, the existence of the Chia Network will only validate Proof of Capacity and other forms or energy saving mining by using hard drives. If investing in their mini-IPO is allowed in your country, then I dont see why you shouldnt. Chia's research on Proof of Space and Time will be worth the investment. What I also love about Chia is the prevention of mining pools from forming. If they can do it successfully then we will have the most decentralized cryptocurrency in the world. Energy-saving Bitcoin rival Chia raises from A16Z, plans mini-IPO- Bram Cohen invented torrenting. Now he’s building a cryptocurrency called Chia that doesn’t waste electricity like Bitcoin, and top investors are lining up. Chia has just raised a $3.395 million seed round led by AngelList’s Naval Ravikant and joined by Andreessen Horowitz, Greylock and more. The money will help the startup build out its Chia coin and blockchain powered by proofs of space and time instead of Bitcoin’s energy-sucking proofs of work, which it plans to launch in Q1 2019.
- They’ll be working on an alternative to Bitcoin’s proofs of work, which require CPUs and GPUs that drain huge amounts of electricity in order to verify the blockchain. This has led to massive Bitcoin mining pools that split the proceeds while operating near cheap electricity sources and cold air to cool the mining rigs, like in the Pacific Northwest. These centralized teams of miners threaten to allow manipulation of Bitcoin’s price and network.
- Chia ditched proofs of work for proofs relying on file storage space that people often have sitting around unused on their computers and can use for free. Chia layers on proofs of time that thwart a range of attacks on proofs of space. It’s also building in “non-outsourceability” that prevents mining pools from forming. Essentially, anyone in a Chia mining pool could secretly run off with the rewards without sharing them, so no one will want to trust their fellow miners not to rip them off.
- Cohen believes these features of Chia will fix both the electricity waste and centralization of Bitcoin.
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I think the PoCC has more than 90% support if you add the numbers on 1.3.6 and 2.0.x! That makes the hard fork to the Dymaxion sure to be smoother than expected. The PoCC have the miners and the community's support. Buy now while its cheap. |
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This is the true reason why America is not the greatest country now..
But America still has the greatest military and still has control of the largest stockpile of nuclear weapons in the world. Thats what makes them one of the greatest countries on Earth. You say America has trillions in debt. But what if they dont want to pay? Good luck going against their military lol. |
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Thats a nice looking quilt. But do you accept Paypal or credit cards? I dont like to spend my BTC because there are possible opportunity costs that I wouldnt want to have.
Buying BTC at the price today to buy a quilt would be an irritating inconvenience. Is there a way you can accept fiat directly?
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Watch "American Made" starring Tom Mr. Scientology Cruise. Maybe something like that is happening all over the world while we are busy in here arguing about cryptocurrencies and the littlest things lol.
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IMHO (based on several years of experience), there are 2 types of cloudmining companies: - 1) Outright ponzi's or scams... It looks like about 99% of the cloudmining companies fall into this category
- 2) Companies that sell 100% of their risk for a small cut of the profits
For me, neither options sounds appealing... Sure, if a company is a ponzi and you're an early investor, you'll ROI, but you'll be aiding in stealing funds from the late investors. If you're certain a company is legit, and they're just selling 100% of their risk for a small cut of the profits, it *might* look like a good idear for somebody to invest, especially if they think the market is going to improve. In this case, it's an honest form of gambling... It's not for me, but whatever floats your boat... Just remember that if it was more profitable/stable for a company to mine with their hardware for themselfs, they would do this instead of selling cloudmining shares... A cloudmining company is a commercial entity... They want to make money, as much as possible. If they're selling cloudmining contracts, this means that selling these contracts will give them better odds at making money than mining themselfs... So they're selling the risk of plummeting prices, failing hardware or rising difficulty to their investors for a small piece of the income... They'll always make sure they get their money, even if it means you lose your investment (that is: if the cloudmining company is withing the 1% honest cloudmining companies)In this case, i'm not sure if icerockmining is legit to start with... An ICO is a red flag for me, as is the rather unrealistic profit calculation and the affiliate program they seem to run (i found links containing an affiliate code using google). I would dig into their whois information if i had some spare time... What he said. Miners who sell contracts or any form of direct investment for their mining farms is a form of hedging their risks by passing them to you, the buyer. They are already assured of profit, while you would have to depend on the mining operation and hope you make ROI. |
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Is there someone in here who is still active in the Burstnation forum? Relay this message from Rico666. Ty. Its time to start moving forward. If there are differences between the PoCC and Birstnation that cannot be fixed, then the best move would be to leave Burstnation. Burstnation is a dead end. Rico666's message for Burstnation |
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Another case of a government of a 3rd world country exploiting and taking advantage their citizens by pretending that they are "protecting" them. What they are doing really is protecting their overlords in the banking industry because ICOs are a threat to their institutional underwriting business model.
ICOs give the freedom to develop and fund businesses among ourselves. The overlords dont want that.
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If there still remains of some residue of Burstnation in this forum, then read this message straight from Rico666 of the Proof of Capacity Consortium, the supported developers of the Burst community and the designated successor of the Burst-Team group of developers. BurstNation in "Walking Ghost phase", a message by Rico666- If you don't know what that is, https://en.wikipedia.org/wiki/Signs_and_symptoms_of_radiation_poisoning#%22Walking_Ghost_phase%22
- Right from the start, they met the PoCC with hostility for no reason. No one at the PoCC takes this personal, because it is apparent that BN met everyone with hostility sooner or later. They managed to piss off all relevant devs from the former team who were - as is often the case - more introvert and not used to face attacks in addition to the work they were doing. Personally, I wonder what the dumbwits in charge at BN thought when they were cutting off the development branches they were partially sitting on.
- They opposed everything the PoCC was doing. Wallet development, Explorer, later then Pool development and the more "fundamental" changes like PoC2, (where PoC2 is one of the smaller changes to await Burst). They basically fucked up all their asset activities and were desperately looking whom to blame so they would not look like scammers. To be clear: they are more incompetent than scammers, but it's hard to distinguish that sometimes.
- Wait - I give "them" too much credit. "They" was a bunch of like 3 guys: Adam, Focus, Menax maybe an additional minion here and there. After the Dymaxion, Adam left, so its mostly just Focus - a barely talented sysadmin compensating with anger what he is missing in competence. Back to their "Walking Ghost phase" (WGP):
- They opposed of course 1.3.6cg and tried to counter development with some desperate monkey-wrenched NRS 1.5.7e, then renamed to NRS 2.0.0. When they saw that the community would go for 1.3.6cg, they plain right threatened to block any community vote with their "over 51% majority of pool capacity". Basically admitting they shit on the whole Burst community using what they perceived as their major power and influence: Mining capacity to nullify the community vote. Burst mining Club and affiliated pools really had way over 51% back then.
- We then came with an all-new pool software which quickly gained air superiority in mining operations - see http://burstcoin.cc/pool and e.g. https://twitter.com/PoC_Consortium/status/972188175836831744 So even this last "fortress" of BN fell.
- You bet our pools were met with some attacks in the course of all this, but these ceased as they became ultimately ineffective. While we do not have any proof who is behind these attacks, we could think of some interest group - but it's really neither relevant nor interesting anymore. What is interesting was the following non-technical attacks, where Focus et al. tried to start some smear campaign on the PoCC pools with fake data, because you can see (analysis of the reward recipient flow between pools), how people are leaving e.g. BMC and joining PoCC pools or Dymaxion-supporting pools.
- To the present day, Focus keeps claiming utter nonsense that is outright plain wrong. E.g. that the PoCC pools are "Uray code clones". You must know, the Uray - later Lexicon - pool code base is some JavaScript based on node.js - the PoCC pool software is a complete all-new implementation of Burst mining pool software written in the Go language. Anyone with a slightest programming experience or very short research is able to debunk this "clone claim", as JavaScript is really really really quite different from Go.
- Yes, BN reached out to exchanges with some fairy tale story of "two development groups", one wanting to keep things as they are and another "more progressive". They falsely pretended both these groups have same community support - their "conservative one" maybe even more so. Yes, we have this letter e.g. from Menax to Bittrex and it gave us all a good laugh.
- This is my last writeup regarding BN, because they have exceeded their share of my attention span and given their increasing level of insignificance basically got (and are getting) way more attention than they deserve in general. As they have chosen a path of self destruction - BN will cease to exist just because of their own actions.
They censor their forum hard. Which means cutting in their own flesh because they alienate potential contributors and remove content from their site. All this only to be able to say "It's not just Focus' opinion - look around in the forum, other think the same." Wow.
This is what will happen:
- All BN infrastructure relying on old 1.2.9 (or quasi 1.2.9 wallets - that includes Menaxerius' fake NRS 2.0.0) will have a harder and harder time to propagate their data into the Burst network or receive data from the Burst network. These will slowly die off.
- By the time BRS 2.2.0 will be released, the only surviving wallets on the network will be 1.3.6cg and BRS 2.0.x There will be no danger of Burst forking into two coins. A "Burst classic" scenario is simply nonexistant.
- Personally, I have lost all hope that BN "management" will come to its senses and doing the only right thing there: unconditionally cease any opposing activities and join the main stream, which is the PoCC roadmap for the Burst cryptocurrency. Also for me personally, the time of a face-saving option for BN has passed. Unless I see a letter of unconditional surrender and BN starting to behave humble, with ashes on their head, spreading optimism and positivism and proactively ask where they could help out - I consider BN a disturbing element of the Burst community that has to be cauterized.
- No one can prove a negative. The PoCC cannot prove to never have attacked any BN-related operation (or anyone else) whatsoever. But we can prove a positive. I suggest Focus and Menax to stop shittalk and to pray as hard as they can so I personally do not feel tempted to demonstrate how it would look like if we decided to use offensive measures - just to prove there were none before that. My gloves could come off.
But all this is purely theoretical. For starters, the duration of a WGP is 10-20 days, so it just takes some patience to see BN fold completely. Good bye - yo may not be in our hearts, but you will be in our memories. For a while.
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Thanks for it! In a process of reading
Ty. Please tell your friends about the project and you can also visit /r/burstcoin on Reddit if you have some questions. The community is growing faster than ever before with around 6200 members now. Thats 3 times more than last year! Anyhow heres another weekly update. Weekly Burst Report #29- When the PoC Consortium released the BRS 2.0.0 core version last week, it was made clear right away that there could be a few remaining bugs due to the magnitude of the code refactoring. The developers worked hard this week to eliminate most reported issues – “we would like to thank all the early adopters who supported development by testing 2.0.0”, states PoC Consortium member rico666.
- The BRS 2.0.1 core version is now out, and it offers better performance, stability and security compared to any release so far. This version is thought for a broader audience, but still not as backend for pools – pool operators should wait for the next version before updating.
- The PoC Consortium confirmed that Qbundle v2.0 is going to be released this Monday. It will be based on BRS 2.0.1 and it will allow the majority of users to upgrade to the latest version with one click.
- We can also expect a BRS 2.0.2 core version before the first fork.
- The bigger picture – a PoC Consortium developer’s interesting insight on the future Burst Dymaxion use cases:
- BurstJack is still making progress on the Automated Transactions listing website. All smart contracts are now imported from the Burst blockchain and searchable.
- Have you ever wished you could have a truly unique and memorable Burst Address? With adrownedcoast’s Burst Vanity Address Generator written in Python, you can generate custom Burst addresses using the 4 leading characters of the address after “BURST”. Check it out on GitHub.
- MinerGate published a great article on Burst’s consensus protocol: Why Proof-of-Capacity could be the future of cryptocurrency.
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Okay. Then would you agree that mixing services are also bad because they assist those same bad and disgusting people in hiding their transactions? it's not the fault of the mixing service, it's the fault of the person who uses the mixing service to do bad things. Are you willing to give up your signature campaign if a child pornography ring was using Chipmixer? you should realize that having a mix service does not mean that you are promoting crime, people who use the mix service for malefic purposes is who are guilty. In the case of payza, it is the owners who are dishonest Its not Payza who's exploiting those children either. The service is merely laundering money, the same way Chipmixer knows and is also mixing the child pornographer's BTC transactions. I have nothing against those services, but you do. Then why dont you stop promoting a service that assists child pornographers? |
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I've recently heard about Burstcoin. It looks like a really great coin, especially since they make it easy for the not-so-good hardware people. Uses your HD space to mine which I think is awesome.
I want your guys opinions on it. Is it a good altcoin?
It is at the same time cryptographic money and payment service provider which cornerstone the blockchain technology is. If to consider precipitancy of development of the cryptosphere, then it is impossible to call this coin especially "young". It appeared at the end of summer of 2014. Start was preceded premayn, by the IPO. The currency is forky NXT as the source code of this crypt is its cornerstone, however you should not have spoken about it if it had no fundamental difference from the predecessor. And such difference is. In BurstCoin for the first time in the history of cryptoprojects the new mayningovy algorithm Proof of Capaciti (PoC or the proof of capacity) is used. You are wrong. Burst has NO premine, presale or ICO. It has one of the most transparent distributions in all cryptocurrencies through PoC hard drive mining. In its present form, Burst's source code has no fundamental difference from NXT, but its codebase is cleaner and more optimized after the Proof of Capacity Consortium's code refactoring. But wait for Burst version 2.2.0. Thats when it bursts away from NXT and starts becoming its own project with its own vision. |
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The PoCC has released the latest version of Burst! Please use it and report bugs in their Github. Burst Reference Software 2.0.1For those who love to lurk on what the Burst developers are doing, look at the milestones. Burst 2.2.0 with PoC2, dynamic fees and dynamic block sizes development can also be witnessed. Burst 2.2.0 Milestones |
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Dont forget about Burst's solution for IoT. DAGs implemented as a 2nd layer like BTC's Lightning but secured onchain by Proof of Capacity. But a small warning, this might or might not be a breakthrough. Read the whitepaper. Burst Dymaxion whitepaper |
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Are you stupid? Did you read every article and the links? Just because the site was used for money laundering does not mean that the founders were directly involved. Really? " MH Pillars, the latest incarnation of the Patel brothers criminal enterprise, began in 2012.
The indictment however goes back further than that, beginning with the incorporation of AlertPay in 2005.
Between 2005 and 2011 "source: http://behindmlm.com/payment-processors/inside-payza-the-patel-brothers-multi-million-dollar-criminal-enterprise/All they do is run the site that accepts cryptocurrencies. Nope, how many sites accept cryptocurrencies that are being closed? show us! If the authorities did not want cryptocurrencies they would have banned it for a long time ago. That is an easy target for money launderers, the same way Localbitcoins or another exchange is. are potential money laundering sites, so they should be inspected periodically and should be properly regulated Cant you also see what the government and the media is trying to do? They are causing FUD to make us support their campaign against cryptocurrency use. Dude, this has nothing to do with cryptocurrency. but I support the freedom to move our money anywhere and anytime we want, with no government interference. have freedom is very good, but our society has rules and laws that we must respect. you must pay taxes and indicate the source of your money. So there's no way you can do something without the government not knowing Yes and you will have your documents rejected multiple times you see. 3 years to be precise  Okay. Then would you agree that mixing services are also bad because they assist those same bad and disgusting people in hiding their transactions? Are you willing to give up your signature campaign if a child pornography ring was using Chipmixer? |
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I convinced one of our local pubs to accept Bitcoin as a payment option and they did. The other pubs, not wanting to be left out, also started accepting Bitcoin in that same area. Now we are rotating our visits between these sites and we are hosting out Bitcoin meetups in these pubs. Merchant adoption is one of the keys to Bitcoin's success.  ... Just great to pay for a couple of beers with my bitcoins. Hi, I just want to know why you format your posts that way. Its very annoying lol. Can you post like a normal person? Ty. |
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The question was whether the developer was considering POS for BURST coins and if not then why?
Because POS is not possible with this technology, BURST is a proof of capacity coin, based on crypto calculation pre resolved and memorized on hard disks. But actually Burst was originally PoS before it was forked from NXT. It still boggles my mind why some of the NXT community are not supporting Burst. Its really the same technology except for the mining algorithm. What kind of files does the wallet store on my hard drive?
I imagine infinite possibilities of prohibited content being encrypted and stored and distributed by several computers "mining" the coin.
No answer? They already accusing the bitcoin blockchain of having hosted pedophilia photos, imagine what could be done in a coin that works by storing information on computers. What is the guarantee that we will not be part of this? Has anyone here thought of this? Or do we have a horde of zombies? What do you want us to say? Blockchains are censorless. Do you want us to dump our coins? There is no "fix" for this. |
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This is a very shocking news, I used payza for many years and I always thought they were trustworthy and honest, I can not believe they did these things that are being accused, I hate people that hurt children and know that payza is involved with child pornography? they are disgusting!  Are you stupid? Just because the site was used for money laundering does not mean that the founders were directly involved. All they do is run the site that accepts cryptocurrencies. That is an easy target for money launderers, the same way Localbitcoins or another exchange is. Cant you also see what the government and the media is trying to do? They are causing FUD to make us support their campaign against cryptocurrency use. I may not support child pornography and ponzi schemes, but I support the freedom to move our money anywhere and anytime we want, with no government interference. |
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