Burstcoin [BURST] Price Speculation

[suvo05]

I really love the coin . It is only coin which can be mined with the HDD. I thought(still think that) the future of the coin is very bright so I brought it when it was 800 satoshi / Burst.  But the blockchain of the coin was attacked and the price of the coin dropped down quite a bit after then. still the price is very low . Hope that the coin will be start increasing soon.

[pinkflower]

It will reach to more than 1000sats don't worry about it because once bitcoin settles the price of Burst will automatically move up words. Already it touched nearly 932 sats may be next target more than 1000sats. It may happen within a month or so.

It will reach 1000 Sat by end of 2017, but the reasons are completely different than what you lay out here.

The pump to 932 Sat was something ... not sure if orchestrated or by the oblivious market. In any case it had no foundation in anything BURST offered at that time. The infrastructure was broken, wallets had lots of potential security issues and - inevitably - got squashed away in the July spam attack, so that the exchanges had to halt BURST trading.

If you think about it, these 900+ Sat was completely oblivious and I tend to believe that's what markets are: completely oblivious.

In any direction, because as unjustified-high Burst was before the July attacks, as unjustified-low it is now.

Network is stable and robust as never before https://explore.burst.cryptoguru.org/tool/observe (percentage of valid nodes in July was like single digit...), we do have a true mobile wallet now https://play.google.com/apps/testing/org.icewave.burstcoinwallet, a better main wallet, easy-to-install for Linux users: http://package.cryptoguru.org/
And even for Windows-Noobs:
https://forums.getburst.net/t/windows-cg-burst-wallet-launcher-released-the-most-stable-wallet-for-windows-users/608

In general, for about 6 weeks, BURST is gaining tremendous development momentum. And it's not just another crypto. It is the only crypto using Proof-of-Capacity for mining (transaction confirmation). And no, storj and similar shit doesn't count.

So yes, BURST will reach 1000 Sat - I believe even rather quick by the end of 2017, because it is right now ridiculously undervalued (conservatively I would say it should hover at 400 right now) and should FOMO kick in - hell knows what price we may see.

Hi Rico. Forgive me for doubting your projection of BTC.00001 for Burst. Its now very close to impossible for that to happen. But thats not a real concern for me. I still believe in what the PoCC is doing. What troubles me is this could have a negative impact on the miners' sentiments, and some of them might start leaving.

The holders should start mining and should be willing to mine at a loss for the sake of Burst's security.

As a mining newb, whats a good brand for a hard drive and how many TB should I get?

[rico666]

Hi Rico. Forgive me for doubting your projection of BTC.00001 for Burst. Its now very close to impossible for that to happen. But thats not a real concern for me. I still believe in what the PoCC is doing. What troubles me is this could have a negative impact on the miners' sentiments, and some of them might start leaving.

The holders should start mining and should be willing to mine at a loss for the sake of Burst's security.

As a mining newb, whats a good brand for a hard drive and how many TB should I get?

https://news.bitcoin.com/2018-bitcoin-price-tim-draper-unlikely/

In 2016 Tim Drapers prediction (made 2014) that bitcoin would reach $10000 in 2018 "still seemed unlikely".
With Bitcoin scratching at $6000 - does it still seem unlikely? I don't think so.
Should Bitcoin crash to $2500 it may seem unlikely again.
People are short sighted in general. (And those who aren't become millionaires or better)

That being said, I do agree that at the moment 1000 seems unlikely. When I made that estimate, a Burst for 1000 Sat would mean for Burst to have 40% of the MktCap of Nxt, because I believe Burst should - by the end of 2017 - be at 40% of Nxt value. It's still hovering at around 20%.

With BTC rising significantly and Nxt being deconstructed in favor of Ardor, 1000 Sat would bring Burst at the moment to a MktCap of 200% of Nxt and that is actually 5 times my original "prediction". Simple math makes my prediction 200 Sat "at the current market situation" - which as you can see is way less bold than how the numbers, that have developed meanwhile, suggest.

HOWEVER,

with Nxt being deconstructed, I think it is necessary to leave that currency behind and focus on its successor - Ardor. As Ardor is considered "A Nxt that has reinvented itself", Burst is reinventing itself right now too. People just do not realize, because its keeping the name. I think 20% of Ardor MktCap is an equivalent, modest and realistic goal for the End of 2017.

Hint - in case the fellow reader hasn't noted:

We moved our goal upwards, comparing Burst with a way bigger currency now.

[ThomasVeil]

For the sake of accuracy: Nxt isn't deconstructed. It stays as it is - and will get any features that can be transferred from Ardor.
Ardor has a different architecture, so there is room for both - though you are right that the focus will be on Ardor.

As such though, I haven't seen yet the plans for Burst that would be a similarly big change in architecture as Nxt -> Ardor. So I find the 20% cap prediction a bit much. And you're shooting for a moving target once again. Ardor has been moving consistently upwards, and will IMO continue for the coming months.

I mean, your word in god's ear. I'm betting on you and hope it will all work out. Do you have word on what the plans are for the mining? As I mentioned in the other thread, if the inflation target stays the same, and the way the mining works, then the plan is not sustainable. Some additional special use case would be needed, so that (as you mentioned) fees can pick up to keep mining profitable.

[pinkflower]

Rico, the price looks good to buy now with the new found stability at the bottom, and the sellers may have run out of coins to dump. Would you advice investors to start buying now or will we see more selling pressure coming?

All the development is very encouraging from my perspective, I hope some big investors start seeing it.

[rico666]

For the sake of accuracy: Nxt isn't deconstructed. It stays as it is - and will get any features that can be transferred from Ardor.

...

I mean, your word in god's ear.

ditto.

I'm betting on you and hope it will all work out. Do you have word on what the plans are for the mining? As I mentioned in the other thread, if the inflation target stays the same, and the way the mining works, then the plan is not sustainable. Some additional special use case would be needed, so that (as you mentioned) fees can pick up to keep mining profitable.

I see you are one of the (many) people who rely heavily on being told plans for something to be able to judge the future of this something.
I am sorry if the PoCC has to disappoint you. Neither do we discuss nor announce our plans. We chose a mode of operation to present things when they are ready.

Of course we do have a GMP, and its far beyond the petty thinking quoted above.

[pinkflower]

Can you give us a clue of what the GMP is? The mystery is giving me ulcers.

If I were to guess, the GMP includes a partnership or an enterprise alliance with a company that wants to have its ICO in the Burst platform. Am I correct?

[puremage111]

Okay although this thread is old, but i am going to give my Point here

So currently Burst is like what, around x8 below of its peak price at 800 satoshi

It is now at 100 Satoshi, 2Billion Supply

Working platform, Mainly to deal with Assets type coin.
Proof of Capacity

Nothing is wrong with the coin, it could be something but the previous chain stuck and old member leaving turn the price down

One of the Pioneer Member claim "I fully believe the algo is able to be exploited", well i am non technical guys but hes call might be true , Source: https://bitcointalk.org/index.php?topic=1323657.msg19868944#msg19868944

To make Burstcoin good again, it will be "The only way BURST can survive, is by total re-build."

Or else, Burst might goes low and low.

[pinkflower]

There was no proof that crowetic's beliefs are true. Rico666 has already replied to that exit post, which I will quote below this post, when I raised the same question in the Burst ANN thread. Every flaw and issue crowetic has raised have all been fixed by the PoCC. But thats according to rico666, and I am having faith in what he said.

But a debate between crowetic and rico666 would be needed to close the issue.

Certainly you refer to this exit post from crowetic: https://bitcointalk.org/index.php?topic=1323657.msg19868944#msg19868944

So to make some things clear:

• Crowetic is no developer and has never been. I do not say this to discredit him in any way, it's a simple fact he also stated himself many times. He was sysadmin and he had (maybe paid) developers to look into things. So I would see him as kind of "facilitator", but not developer.
• He is one man. So when you said "There were some developers who said..." you have blown things out of proportion. No developer and not plural.
• Even Crowetic stated - and I quote: "I fully believe the algo is able to be exploited". Now while this shows a strong belief, it is nothing else than that: a belief.

Crowetic believed many other things in his "Exit post", which were partially true (like the network not being able to handle the max num of transactions without forking at the time of his post) and some which were not true because as a non-dev he had not enough insight into these matters.

Again, I would like to state that all of this is in no way meant to discredit him. It's only meant as a clarification, so that "Word of mouth" doesn't start to skew the facts more and more.

There were no developers, not even a single one who said that BURST is broken to the core. There was one non-dev guy who said he believes that.

Ok?

Now he also said he does believe some other things, which have proven to be untrue. Like BURST could only be repaired when written anew "from scratch up" and the similar.
That was provably untrue, because BURST today has already rock solid wallets/nodes - if you happen to use the right version.
https://explore.burst.cryptoguru.org/tool/observe (the number of valid nodes was somewhere in the single-digit percentage when Crowetic wrote his post)


If you look at the changes necessary to make BURST stable and being able to cope with max-TXs capacity, it was not that much. You just had to know/find where to apply your patch.

Nevertheless, in the meantime much more work happened on the BURST core. We actually started to make fundamental changes - which Crowetic also called for - to the code base to make it fit for future requirements. So the situation is not like "Maybe its better to give the PoCC more time to fix the core problems..."

The situation is much more such, that the PoCC and the remaining core devs have already fixed the problems that plagued BURST in July and are now already en route to implement things Crowetic wouldn't even have hoped for 3 months ago. Like DB independece, multiple DB backends which did require significant changes to the underlying infrastructure.

We are running a permanent TestNet and the wallet there is - intentionally - beaten rigorously. Because of this we have fixed errors and problems Crowetic (and others) weren't even aware of!
As problems of stability become a thing of the past, new paths open up for developing functionality and infrastructure. We are entering the "age of emancipation", where the BURST code base starts to be better in certain aspects than the original (and present) NXT code base. And this trend will continue - as we did already announce in our 1st announcement

We will change this and we will change it fast, because
even NXT has not the development capacities we are bringing to the
table right now.

Is there much work to do? YES! Is some magic ultra-rocket science needed? NO! Just plain old good software engineering, done by people with the skills, experience and dedication.

That's all it takes for now.


Of course, we do have some magic ultra-rocket science available when needed.  

[pinkflower]

Burst is finally fighting to get its real market value. I hope we see it among the top 50 by the beginning of next year and then move on to be on the top 20. I heard something that an announcement from the PoCC is something the community would like.

Wait for an announcement from rico666. There will be a new whitepaper and of proof of concept code released before Christmas.

[pinkflower]

Burst had a big move today, then I tried searching for any news on why it's moving but I cant find anything. So let us speculate.

Is Burst's move

• A reflection of all the work done on the code by the PoCC?
  
  
• A mere pump and dump?
  
  
• The start of a moon ride to $1.00 per Burst?

[pinkflower]

It looks like that I may have gotten excited too soon lol. I bought some Burst thinking that this was the time to reap the rewards for all the work done by the PoCC and its supporters.

To non-Burst supporters, from an outsider's perspective, what are your opinions on this coin?

[ThomasVeil]

Burst had a big move today, then I tried searching for any news on why it's moving but I cant find anything. So let us speculate

Well, maybe it was a big move - but it's just soo much room to recover from old heights. So I think it just moved back a bit to where it should be - it is way undervalued, even if we take the slow months into account.

It's a risky coin, with no public plan to rely on. But that makes it a good gamble, with lots of up-side (if things were sure, the price would be high). I just look in the coinmarketcap range and I see soo many dead coins there. Burstcoin definitely doesn't belong in that graveyard. So my opinion: Decent bet mid-term to stay horizontal, maybe tick a bit up. With an above average chance to break out substantially if solid good news comes out. But it can all go wrong too.

[pinkflower]

Burst had a big move today, then I tried searching for any news on why it's moving but I cant find anything. So let us speculate

Well, maybe it was a big move - but it's just soo much room to recover from old heights. So I think it just moved back a bit to where it should be - it is way undervalued, even if we take the slow months into account.

It's a risky coin, with no public plan to rely on. But that makes it a good gamble, with lots of up-side (if things were sure, the price would be high). I just look in the coinmarketcap range and I see soo many dead coins there. Burstcoin definitely doesn't belong in that graveyard. So my opinion: Decent bet mid-term to stay horizontal, maybe tick a bit up. With an above average chance to break out substantially if solid good news comes out. But it can all go wrong too.

Did you see the latest tweet from the PoCC? They have a big announcent coming before 2018 ends. They said it was big, as in Elon Musk's Big Fucking Rocket big.

I wish they didn't try to set it up like this. It may end in disappointment.

[ThomasVeil]

Did you see the latest tweet from the PoCC? They have a big announcent coming before 2018 ends. They said it was big, as in Elon Musk's Big Fucking Rocket big.

I wish they didn't try to set it up like this. It may end in disappointment.

Hope you mean 2017
But no, I can't find that tweet. Maybe deleted? Pre-announcements never go well ... see the recent Neo apology

[Ihasweakhandz]

Burst is a BFB* (as in rico666's BFA  )

*Big Fu**ing Buy

[pinkflower]

Did you see the latest tweet from the PoCC? They have a big announcent coming before 2018 ends. They said it was big, as in Elon Musk's Big Fucking Rocket big.

I wish they didn't try to set it up like this. It may end in disappointment.

Hope you mean 2017
But no, I can't find that tweet. Maybe deleted? Pre-announcements never go well ... see the recent Neo apology

Yeah sorry. I meant before 2017 lol.

Here's the tweet in question PoCC Big Announcement Teaser. It wasn't deleted.

I also share your concern with pre-announcements. Remember the last "big" Burst announcement? It was just an Android wallet lol.

[ThomasVeil]

I also share your concern with pre-announcements. Remember the last "big" Burst announcement? It was just an Android wallet lol.

Having a well functioning Android wallet is pretty neat though. Must have been quite some work.

[pinkflower]

I also share your concern with pre-announcements. Remember the last "big" Burst announcement? It was just an Android wallet lol.

Having a well functioning Android wallet is pretty neat though. Must have been quite some work.

Yeah its nice to have a functioning Android wallet lol. But its not something big like how the PoCC tried to hype it to be. Was that the time when the market started reacting positively then the trend quickly reversed when the big new was really just the Android wallet?

They should learn from the mistake and try not to disappoint next time.

[pinkflower]

Bumping the thread for more Burst price discussions.

Where do you think will Burst be by the release of its latest and biggest upgrade called Dymaxion? The price appears to have started to burst forth. Pun intended lol.