Few questions...I'm new to your community. Great coin. Is this based off Microsofts whitepaper? Also how many coins will exist and when will they all be in circulation? Do you guys ever see this coin hitting .... .1? Or $1? Are there any future plans to market this coin better?
Also when sending burst what is MSG? An what is all this stuff about unencrypted n stuff can someone answer all my questions please and thank you
I haven't heard any microsoft whitepater mentioned, so i would be surprised. However, burst is likely being inspired by other coins and other ideas. Its sourcecode is based on NXT sourcecode, but with some additions, adding new features on top of what NXT has. BURST is implemented in java, so instantly quite cross platform with little effort.
About 1/4th of all BURST coins have been mined, so about 3/4rds left to be mined. Everything else being equal, expect price to go down 75% due to inflation. (oh, btw. everything else is of course NOT equal). BURST price got here while having hevy inflation, but the amount of BURST per block is reduced by 5% every month, so the inflation is getting lower all the time, and if demand rises steadily, it will mean rising prices.
With 2 bln burst coins in total, and a feature way richer than bitcoin, i see no reason why burst should not get a fair piece of the pie, but given 2bln burst coins and 20mln bitcoins, a BTC price of 0.01 would indicate even between the two. We would need a very large adoption of BURST before that happened, but the tech. and feature set is fine - what we need i think is of course more core developers, and more users. This could happen over time, BURST is crypto 2.0 and architecturally way newer than bitcoin, building og lessons learned with BTC, taking the good, ditching the bad.
above also answers your other question... with BTC around $200, there is no reason why burst should not become $2 - in 2-3 years from now - if we manage to share the market between the two coins. I'd say first goalpost is to match the NXT market cap, which is way up compared to burst already, then we'll see about the rest from there.
Also, if BTC do another 10 bagger due to crypto rising and gaining acceptance in general, burst would likely just follow suit and do a 10 bagger too, so you have two things working for you - crypto gaining market share in the total market of services that blockchain tech. can work in (decentralized banking, currencies, contracts, exchanges etc.) - and then the internal battle between burst and other crypto coins, where i would clearly argue that burst is probably deserving at least a top-10 mktcap in a few years, if not top-5.. what would make burst into a 10 to 20 bagger from here, as i see it, is burstcoin and a bunch of other developers coming together and creating a core developer group, reducing the risk that currently burstcoin is doing way too much of the core development lifning. Everywhere else than core, burst is already having multiple developers working with similar projects, and thus burst is super hard to knock off its #1 spot, as we have several independent wallet coders, several independent pool codes, several independent block explorer coders, etc. etc. etc. we even now have a group doing PR and information spreading, they just started out, but they seem to have awaken a few crypto traders with money to spare, since the market was rutled the way it was today.
the MSG is simply a text you can send to the reciever of the coins. You can write thanks for the stuff, an order #, or some super secret message, it is optional if other ppl should be able to see the msg, or just you.
BURST is not a no-brainer at this point, but when it is clearly a no-brainer we will be at 20x current prices and the 100 bagger scenario might be too late.. jmho..
i've been mining since i stumbled upon the (then not really mentioned anywhere) coin, back in sep. i think, and at current prices, i could sell all the burst i mined, and have all the money back i spent on 40TB disk space, so 40TB free disks for me. However, i'm holding for the long term, as i have a very hard time seeing burst not making it, given that so many very experienced and very good developers, AND entrepeneurs of all kinds are wholly or partly involved, so even if the original and current major core workhorse burstcoin went on vacation tomorrow, it would probably only take the community half a year or so to recover and get going without him. burst is too big to be killed of easily now - too many of us too heavily invested to let it go without a major fight.
This is sort of like bitcoin somewhere between 2011 and 2012 - and the moment a more than one team of developers for core is established, i see no reason why we should not hit NXT marketcap inside a few weeks.
btw. burstcoin the main developer has been taking so much care of burst you'd think someone was paying him to do it, or that he was already dreadfully well off,and just coding it sitting in his beach house somewhere nice. The innovation and stability of this coin is amazing, giving that it is a lot of new shit built on top of the shit, which is again inspired by almighty bitcoin itself.
burstcoin the main driver of things never tried to promote this, or hasten the adoption or pump up the price or anything. he/she is concentrating on the tech 100% and this strategy has made for a steady rise in adoption, use, support and awareness. much more steady than many other coins. This is a great asset now - burstcoin and the early adopters have shown by their actions that they are here for the tech and for the long run, not running away after the first pump out there...
all just my humble opinion.
btw. this rise today is nothing. I remember aliencoin rising 30000% (300 times up) inside 7 days earlier last year (2014). it came back down most of the way, but i think (from memory, could be way off) we were left 10 to 20 times higher than where we started... THAT* was a pump with some kahoots.