[ANN][BURST] Burst | Efficient HDD Mining | New 1.2.3 Fork block 92000

[CoinHoarder]

What is the point of Burst if the hard drive space of the network can't be utilized? I see no mention of any development in regards to actually utilizing the storage space on the network for file storage etc.. on your website or forums.

Why not? It seems like this is the most obvious use for Burstcoin, and without being able to use the HD space then this is pretty much a clone coin with a different consensus algorithm.

Don't get me wrong.. it's cool, but not very useful and therefore not likely to be very valuable.

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[DrTrouble]

What is the point of Burst if the hard drive space of the network can't be utilized? I see no mention of any development in regards to actually utilizing the storage space on the network for file storage etc.. on your website or forums.

Why not? It seems like this is the most obvious use for Burstcoin, and without being able to use the HD space then this is pretty much a clone coin with a different consensus algorithm.

Don't get me wrong.. it's cool, but not very useful and therefore not likely to be very valuable.

What is the point of a stupid little USB device to mine a coin?  What is the point of utilizing 100% of a GPU (or a CPU) to mine a coin?  This is a different kind of coin that allows you to make money/bitcoin/altcurrency with what you may already have and might not be using - hard drive space.  It is the first of its kind to do this.

[callmejack]

What is the point of Burst if the hard drive space of the network can't be utilized? I see no mention of any development in regards to actually utilizing the storage space on the network for file storage etc.. on your website or forums.

Why not? It seems like this is the most obvious use for Burstcoin, and without being able to use the HD space then this is pretty much a clone coin with a different consensus algorithm.

Don't get me wrong.. it's cool, but not very useful and therefore not likely to be very valuable.

data storage is on the roadmap but due to its complexity far at the end.
i think it simply requires time to develop the requirements for data storage opportunities.
what do you expect from a data storage option in burst?

2 month ago hardware for 300k dollar could have mined most blocks.
today you need hardware for 3 million dollar at least to do so.
if you say you keep 100 copies of a data chunk within the network you could host 60tb today.
unless the network grows larger i think utilizing the nework infastructure wont be of any practical use (except for marketing).
if the network grows to ten or more times of its current size data storage makes burst to the coin with the most practical use.
 

[Krypt]

What is the point of Burst if the hard drive space of the network can't be utilized? I see no mention of any development in regards to actually utilizing the storage space on the network for file storage etc.. on your website or forums.

Please read the dev's thoughts here: https://bitcointalk.org/index.php?topic=731923.msg9167900#msg9167900

[aarqa]

What is the point of Burst if the hard drive space of the network can't be utilized? I see no mention of any development in regards to actually utilizing the storage space on the network for file storage etc.. on your website or forums.

Why not? It seems like this is the most obvious use for Burstcoin, and without being able to use the HD space then this is pretty much a clone coin with a different consensus algorithm.

Don't get me wrong.. it's cool, but not very useful and therefore not likely to be very valuable.

The point is to mine cryptocurrency, just like the other coins.  The question is not 'what is the point?', the question is 'what makes it different'?  The biggest answer there is the electricity costs going way down, at least from my perspective as a miner.  GPU mining was constantly blowing my little apartment's circuit breaker.  I love this fact about HDD mining.  Maintaining a currency shouldn't cost so much, even if that cost is spread over thousands of miners.

I hope that BURST coin or some other coin that doesn't utilize so much electricity to mine replaces bitcoin.  Just for the electricity savings.

[supermeatboy385]

I hoped for an easy to use GUI.
iam starring at folders with no clue what to do.not remotely.

Now after skipping through all the threads,i still cant get a cmd line together.
Would somebody please give me a cmd line with x y variables ?

Page 29 in the ANN thread was a frustrating read through.i barely got that you use ur HDD to mine (shame on me)
Help much appreciated already

[uray]

What is the point of Burst if the hard drive space of the network can't be utilized? I see no mention of any development in regards to actually utilizing the storage space on the network for file storage etc.. on your website or forums.

Why not? It seems like this is the most obvious use for Burstcoin, and without being able to use the HD space then this is pretty much a clone coin with a different consensus algorithm.

Don't get me wrong.. it's cool, but not very useful and therefore not likely to be very valuable.

more or less I quite agree with you, its cool, but does not give economic & utilization advantage other than green mining
low cost mining is double edge sword, if mining is less costly the price of coin would go down too
and yeah further development for file storage is planned too, actually its ongoing development since dev already tell us the overview of how it should work

[uray]

I hoped for an easy to use GUI.
iam starring at folders with no clue what to do.not remotely.

Now after skipping through all the threads,i still cant get a cmd line together.
Would somebody please give me a cmd line with x y variables ?

Page 29 in the ANN thread was a frustrating read through.i barely got that you use ur HDD to mine (shame on me)
Help much appreciated already

we have our own forum, and specific mining section here https://burstforum.com/index.php?forums/mining-support.5/
you should find easier to find out there, and also you can ask on the forum too

[OmegaReaper]

I hoped for an easy to use GUI.
iam starring at folders with no clue what to do.not remotely.

Now after skipping through all the threads,i still cant get a cmd line together.
Would somebody please give me a cmd line with x y variables ?

Page 29 in the ANN thread was a frustrating read through.i barely got that you use ur HDD to mine (shame on me)
Help much appreciated already

we have our own forum, and specific mining section here https://burstforum.com/index.php?forums/mining-support.5/
you should find easier to find out there, and also you can ask on the forum too

The site also has chat now as well.

[fivebells]

What is the point of Burst if the hard drive space of the network can't be utilized? I see no mention of any development in regards to actually utilizing the storage space on the network for file storage etc.. on your website or forums.

Why not? It seems like this is the most obvious use for Burstcoin, and without being able to use the HD space then this is pretty much a clone coin with a different consensus algorithm.

For a consensus algorithm to work, you have to force some kind of commitment of economic resources to solution of a randomized problem.  It may be possible to force solutions to useful stochastic algorithms, but it's tricky.   The only viable coin I know of which even sort of does this is Primecoin, but as bitcoin shows, you don't need the consensus algorithm to be independently useful for the coin to be useful.

The burst consensus algorithm is much less energy-intensive than bitcoins, though.  This means that once a hard drive is committed to the burst network (a significant upfront cost), the marginal cost to keep it participating in the consensus is much lower than for bitcoin.  This means that transactions are always going to be cheaper in burst than they are in bitcoin, especially once the mining rewards run out, and that financial coordination of resources is always going to be more efficient in burst than in bitcoin.  Of course, proof of share consensus is even cheaper, but distribution of wealth means that PoS and even PoW will probably never be as democratic as proof of capacity (it's hard to see how there could be orders-of-magnitude efficiency gains in specialized hardware for burst mining, though I could be wrong), and this is why burst is exciting even though it's a "clone" of NXT, which is PoS and 100% premined.   The democratic nature of burst's consensus algorithm is not just ideologically appealing, either.  It means responsibility for the consensus is spread much more uniformly across a much broader audience, making collusive corruption much harder to pull off.

So no, I would say that the consensus algorithm alone makes this more than just another "clone coin."  In fact, being a "clone" of NXT is a huge advantage, because the NXT premine is funding all sorts of cool development, which Burst can fold in relatively easily while at the same time providing much more trustworthy security for its blockchain.   And that's not to say there aren't cool things being independently developed for burst.  There are.

[ltcnim]

I just had a strange problem with the 1.1.3 wallet. I was not able to exit the process, it got stuck at:

Code:

2014-10-16 15:07:43 INFO: Shutting down...
2014-10-16 15:07:43 INFO: nxt.dumpPeersVersion not defined

and cpu load was 100%

anyone?

[uray]

I just had a strange problem with the 1.1.3 wallet. I was not able to exit the process, it got stuck at:

Code:

2014-10-16 15:07:43 INFO: Shutting down...
2014-10-16 15:07:43 INFO: nxt.dumpPeersVersion not defined

and cpu load was 100%

anyone?

you just need to force terminate the application, the re-run it, or to be safe from db corruption, resync the blockchain by deleting burst_db folder

[ltcnim]

My wallet is in sync. It just happens when I try to stop the wallet. killing the process did not work (ubuntu 14), so i had to restart :/

[uray]

My wallet is in sync. It just happens when I try to stop the wallet. killing the process did not work (ubuntu 14), so i had to restart :/

have you try kill -9 ?
or just kill the java itself

[yellowduck2]

something wrong with Uray US pool. Deadline becomes very high.

I think Uray change the pool now its becomes unstable.

[ltcnim]

My wallet is in sync. It just happens when I try to stop the wallet. killing the process did not work (ubuntu 14), so i had to restart :/

have you try kill -9 ?
or just kill the java itself

yeah, i tried that, but no luck either. i will check again next time I have to reboot.

[crowetic]

What is the point of Burst if the hard drive space of the network can't be utilized? I see no mention of any development in regards to actually utilizing the storage space on the network for file storage etc.. on your website or forums.

Why not? It seems like this is the most obvious use for Burstcoin, and without being able to use the HD space then this is pretty much a clone coin with a different consensus algorithm.

For a consensus algorithm to work, you have to force some kind of commitment of economic resources to solution of a randomized problem.  It may be possible to force solutions to useful stochastic algorithms, but it's tricky.   The only viable coin I know of which even sort of does this is Primecoin, but as bitcoin shows, you don't need the consensus algorithm to be independently useful for the coin to be useful.

The burst consensus algorithm is much less energy-intensive than bitcoins, though.  This means that once a hard drive is committed to the burst network (a significant upfront cost), the marginal cost to keep it participating in the consensus is much lower than for bitcoin.  This means that transactions are always going to be cheaper in burst than they are in bitcoin, especially once the mining rewards run out, and that financial coordination of resources is always going to be more efficient in burst than in bitcoin.  Of course, proof of share consensus is even cheaper, but distribution of wealth means that PoS and even PoW will probably never be as democratic as proof of capacity (it's hard to see how there could be orders-of-magnitude efficiency gains in specialized hardware for burst mining, though I could be wrong), and this is why burst is exciting even though it's a "clone" of NXT, which is PoS and 100% premined.   The democratic nature of burst's consensus algorithm is not just ideologically appealing, either.  It means responsibility for the consensus is spread much more uniformly across a much broader audience, making collusive corruption much harder to pull off.

So no, I would say that the consensus algorithm alone makes this more than just another "clone coin."  In fact, being a "clone" of NXT is a huge advantage, because the NXT premine is funding all sorts of cool development, which Burst can fold in relatively easily while at the same time providing much more trustworthy security for its blockchain.   And that's not to say there aren't cool things being independently developed for burst.  There are.

VERY well written. Well said. Well done! You sir, should definitely be a promoter for burst, you're able to accurately portray burst AND come up with reasons as to why it's awesome other than just saying "you can mine with hdd." We definitely are lucky to have people like you in our community. Thanks.

[Razerglass]

wow ive been tending to other matters and this forum is now almost 700 pages lol!!

did people never migrate over to burstforum.com?

[SpeedDemon13]

wow ive been tending to other matters and this forum is now almost 700 pages lol!!

did people never migrate over to burstforum.com?

Seems like most people favor this forum and/or Reddit, then newer forums.

[crowetic]

Burst forum.com is a well designed, awesome forum. Really intelligent people there willing and friendly to help. We are for the betterment of burst as a whole. Let's do it.  

Pardon my phone spelling... Ffs.