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

[Irontiga]

Everyone should be running this#reflink

DW, it's not spam, it just runs in a tab in the background, u never see it, yet you can earn up to 300 burst(u do absolutely nothing). It's great for buy pressure!!!

I haven't touched the tab in ages, and have been earning. I don't get 300 burst/ day, i get more like 30-40, but then I am in NZ, those in other places around the globe will earn wwaaayyyy more

(BTW, run it in chrome and mute the tab, i have found that it can talk every now and then )

[Irontiga]

Byte Ent

Has got a miner running!!! Look for a purple account with name BURSTCITY1 on BURST.NINJA!!! All that profit goes to byte ent holders

[FakeAccount]

http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=7739051&CatId=4230

good price

this one seems better: http://www.amazon.com/gp/product/B00J5EZNO0/

[FakeAccount]

http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=7739051&CatId=4230

good price

Not really

Bitladen please do us all a favor, set ur farm on fire and go away.

yea, he's right, tiga. That price isn't very good, I can get them at a local Costco for 129.

I think Bitladen is alright, what's wrong with him?

It is a good price for me....

OK... how do you get that price?

[burstcoin]

While not as good as ring-sig or zk methods, it is possible to mix with ATs, swapping coins with yourself or another user on 1 or across multiple blockchains. The algorithm described here: https://bitcointalk.org/index.php?topic=893271.msg9839547#msg9839547 can be done with ATs and can likely be expanded to work with more inputs or outputs.

ok, let me see. is it trustless? though I'm repeating myself, I'm also interested in improvements to burst.

The transfer is trustless, however either party would be able to expose the exchange, intentionally leaving a link between them if they wanted.

The original(not-mixing) atomic transfer AT works like this

AT code is used with a destination account, refund account and hash supplied. the AT once created and funded will run trustlessly on the blockchain
party1 will create a secret value and the hash of that is what will be used in the ATs
p1 creates an AT with that will release to p2 when supplied with a message that the hash of the message equals the hash it was created with
p2 also creates an AT like that, since they know that if their AT is released they can use message that released it to release the one p1 created
p1 sends the message to p2's AT to get funds, and p2 uses the same message to release p1's AT

now in order to make an anon version, we alter it to use 2 extra secret values, and some more complicated verification.
p1 will make s1 and s2
p2 will make s3
p1 hashes s1 and sends it to p2 who hashes that with s3 and sends it back, so hash(s3 concat hash(s1)) is known
p1 makes an AT that will release with either s2 or both s1 and s3 (the hash in the previous step is embeded, not hashes of s1 and s3 individually)
p2 creates an AT that will release with s1
p1 releases p2's AT by sending it a message with s1
if p1 is honest they will give p2 s2 that can be used to release p1's AT (and using it will have no messages or hashes shared between the ATs)
if p1 is dishonest p2 can still collect their money by getting s1 from the transaction p1 used to release funds, and combining it with s3 and sending that to the AT. In that case s1 will have been sent to both ATs, leaving a link between them

In both of these cases, the ATs can be on different blockchains.

While hashrate-based block rewards would be interesting to see, unless there was a large amount of use of the coin and transaction fees were significant  I'd guess the market would just get flooded from the never-ending supply being mined and dumped without demand from those hoping for a value increase.

yes, we'll have to see, what I was just asking was: "Who wants to see?"
and with deflationary coins, I insist that if the price increase isn't keeping up with the reward decrease, the coin has not good prospects, and right now things don't look so good with burst. and thus far only bitcoin has managed to make  comebacks from such situations.

and yes, I do think that tweaking the tx fees and aging fees is essential, and having good features also is. perhaps it would need a few forks until it reaches a stable coin.
and useful features would also be critical, as I proposed anonimity cryptonote style, and trustless exchange with some other blockchains, btc being the most obvious.
integrating with nxt features even better (does burst have non nxt features, other than the POC hashing?)

ATs are the most important one, but burst also has built in escrow and subscription(automatically re-occuring transactions)

[Irontiga]

...

OK... how do you get that price?

I dunno..must be that i'm in nz...dunno why tho....hmmm, tryy this link: http://www.tigerdirect.com/applications/searchtools/item-Details.asp?EdpNo=7739051&sku=S130-8728&SRCCODE=WEM4471C&utm_source=EML&utm_medium=main&utm_campaign=WEM4471

Hehe, yip, that'll do something to the price They must've set a cookie with a discount code because of their mailer,....

[bitladen]

ATs are the most important one, but burst also has built in escrow and subscription(automatically re-occuring transactions)

Interesting, I have to look up what AT exactly is. But just looking through what you just wrote, I think an AT could be used to trustlessly exchange the coin with BTC? Am I right?
That's a very strong feature to have

[bensam1231]

he has about 700tb!!!

Based on how many blocks he's been finding it's closer to 2PB. Looking at the wallet, the network difficulty increased by about 2PB right around when it started ramping up.

Curiously he's amassing it in one wallet too... If he wanted to he could destroy the market due to the only reason Burst having a high price is people holding it. The name would match if that's the case.

Sorry, but I don't think burst has a "high price".

Compared to the amount of volume being mined it's quite high.

This makes perfect sense. Say if we would all be into farming wheat instead, for some amount of seeds we plant we know we expect to harvest 1 ton of flour. This will always stay more or less the same, no matter how many people will farm in the future, or have farmed in the past. Why not have the same principle for coins?

Ok, so now you ask, why would somebody invest, if infinite coins are emitted. Simple, a ton of flour is still a ton of flour, and anyone can find out exactly what it costs to produce one, and as with any commodity, the price will fluctuate, hence the possibility to profit does exist. However we will be less likely to have any brutal pump and dumps. Also instead of paying tx fees, we can burn the coins when transactions are made, to compensate the infinite emission of coins. And being a cryptonote mixer, transactions is what we like to have, it draws value from that. We can also implement a thing where you can't keep an input for more than a month without transferring it, this also serves our mixing purposes well. We do need many transactions to mix our coins with, if we like to have a good anonymity.

Any constructive comments are welcome

I've mentioned a infinite coin mine before as well. The decline in reward usually leads people to eventually get out of the coin as the hype around mining simply dies out. The miners essentially make or break a coin till it gains leverage and when the profitability of mining dies out, so does the community for mining. If burst ends up like BTC by the time the reward dies out, then it'll be fine, but that has a long way to go. Even BTC is still suffering from lack of wide adoption among normal fiats.

Normal fiats have a infinite mine so to speak too. Too many coins depend on 'scarcity' to give their coin purpose, but they never actually reach a point where that's a thing before they die out so it doesn't even matter. The only exception to this is the fast mine coins that last maybe a couple days to a week.

I don't think increasing the mined amount based on the hashrate would do what you're thinking. People would just be able to dump much easier.

The whole wheat comparison is just getting people stuck in nuances.

[Irontiga]

ATs are the most important one, but burst also has built in escrow and subscription(automatically re-occuring transactions)

Interesting, I have to look up what AT exactly is. But just looking through what you just wrote, I think an AT could be used to trustlessly exchange the coin with BTC? Am I right?
That's a very strong feature to have

It can be exchanged trustlessly with any other coin to implement AT's, yes There's a reason ether received millions in funding to implement these features(and we beat them to it, by a long shot, thx to vbcs, burstdev and ciyam).

[bitladen]

I don't think increasing the mined amount based on the hashrate would do what you're thinking. People would just be able to dump much easier.
The whole wheat comparison is just getting people stuck in nuances.

Interesting. Ok you definitely see the problem I see with these coins. Why exactly am I wrong though?
If you "invest" in a coin then definitely, inflationary model won't be appealing. On the deflationary model you're just gambling that you'll figure out when to dump, before others do. Some will win, some will lose, in the end it's a sick gable. Worst thing that can happen to you is get very lucky on the first coins you try. suicide will soon follow HAHAH

However if the coin is NOT just a platform for ponzi games, it has usefulness, then you can safely treat is as a commodity (or so I'm inclined to think).
The idea came to me for the particular use of mixing transactions. In that case, there will definitely be a lot of buys and sells, but not to invest, but because of the mixing going on. So profit can be made by trading the coin, short term, sell a bit higher, buy a bit lower and do that a huge number of times. Also I suggested burning the tx fees (which should be substantial fees), instead of adding to the mining reward, and burning a % from old inputs. This coin would only exist to be transacted, if you don't transact it, you are sure to lose.

And of course the reward would not increase infinitely. At some point the maximum hashpower will be reached. It should even decrease, if the market price falls. I think my idea simply deters ponzi usage of it, and gives the reward to miners and skilled traders. And the actual users will pay the bill (gladly!). If you try to mix with Monero, good luck! Or just wait until the order book looks like it might be a safe time to do it. With the kind of coin I'm proposing I don't think fluctuations can be too severe over short periods of time.

PS: with normal currency, for example EUR and USD are both inflationary, right? If you think investing in dollars now and gain something 10 years in the future, you are an idiot. But still there's good money to be made on forex. Right? In fact if they hold back on the inflation, they're actually in big trouble. Like what's happening now with the crysis. Which I guess is because the inflationary mechanism they used wasn't a good one. But still we need to find ways to inflate them

That's the state cryptocoins are in right now, anybody who holds them is essentially an idiot. We are all idiots. I'm an idiot I'm holding 2.5M BURST, hoping that a bigger idiot will eventually show up. But I'm forced to do it. Thanks, y'all!

[bitladen]

It can be exchanged trustlessly with any other coin to implement AT's, yes There's a reason ether received millions in funding to implement these features(and we beat them to it, by a long shot, thx to vbcs, burstdev and ciyam).

Exchange with other AT's is just not good enough, for the time being, we are stuck with BTC.

But it can be done. BURST daemon would have to monitor the BTC blockchain. Doesn't need to be the whole blockchain, last N blocks will suffice.
So you make a contract like this (example):  I commit 10000 BURST, if within the next 10 BTC blocks 0.015 or more are posted to 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v, we wait 6 more confirmations and the 10000 BURST will be released to whatever burst address, I was making the transaction with. No more exchange fees, no more exchange site hacks, no trust required. To prevent spam, you might require that 10 burst are deposited to your address before you initiate this AT, or whatever it would be called. I think it's perfectly doable, and not too difficult either, and it would totally rock.

[burstcoin]

It can be exchanged trustlessly with any other coin to implement AT's, yes There's a reason ether received millions in funding to implement these features(and we beat them to it, by a long shot, thx to vbcs, burstdev and ciyam).

Exchange with other AT's is just not good enough, for the time being, we are stuck with BTC.

But it can be done. BURST daemon would have to monitor the BTC blockchain. Doesn't need to be the whole blockchain, last N blocks will suffice.
So you make a contract like this (example):  I commit 10000 BURST, if within the next 10 BTC blocks 0.015 or more are posted to 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v, we wait 6 more confirmations and the 10000 BURST will be released to whatever burst address, I was making the transaction with. No more exchange fees, no more exchange site hacks, no trust required. To prevent spam, you might require that 10 burst are deposited to your address before you initiate this AT, or whatever it would be called. I think it's perfectly doable, and not too difficult either, and it would totally rock.

I'm not sure exactly where the limits are on Bitcoin's scripts, but it likely is able to handle at least the simple side of the previously described transfer. Monitoring btc's blockchain would introduce a ton of unwanted traffic, and would only assist in transfering between one coin instead of any.

[bitladen]

I'm not sure exactly where the limits are on Bitcoin's scripts, but it likely is able to handle at least the simple side of the previously described transfer. Monitoring btc's blockchain would introduce a ton of unwanted traffic, and would only assist in transfering between one coin instead of any.

Yea I know, kind of an ugly and boring thing to code, but Bitcoin is not just any coin (and it's more like bitcoin+most clones). And then you already have poloniex, so there's not much incentive here. Nevertheless, it can be done, perhaps in some new coin.

[bensam1231]

Interesting. Ok you definitely see the problem I see with these coins. Why exactly am I wrong though?
If you "invest" in a coin then definitely, inflationary model won't be appealing. On the deflationary model you're just gambling that you'll figure out when to dump, before others do. Some will win, some will lose, in the end it's a sick gable. Worst thing that can happen to you is get very lucky on the first coins you try. suicide will soon follow HAHAH

However if the coin is NOT just a platform for ponzi games, it has usefulness, then you can safely treat is as a commodity (or so I'm inclined to think).
The idea came to me for the particular use of mixing transactions. In that case, there will definitely be a lot of buys and sells, but not to invest, but because of the mixing going on. So profit can be made by trading the coin, short term, sell a bit higher, buy a bit lower and do that a huge number of times. Also I suggested burning the tx fees (which should be substantial fees), instead of adding to the mining reward, and burning a % from old inputs. This coin would only exist to be transacted, if you don't transact it, you are sure to lose.

And of course the reward would not increase infinitely. At some point the maximum hashpower will be reached. It should even decrease, if the market price falls. I think my idea simply deters ponzi usage of it, and gives the reward to miners and skilled traders. And the actual users will pay the bill (gladly!). If you try to mix with Monero, good luck! Or just wait until the order book looks like it might be a safe time to do it. With the kind of coin I'm proposing I don't think fluctuations can be too severe over short periods of time.

PS: with normal currency, for example EUR and USD are both inflationary, right? If you think investing in dollars now and gain something 10 years in the future, you are an idiot. But still there's good money to be made on forex. Right? In fact if they hold back on the inflation, they're actually in big trouble. Like what's happening now with the crysis. Which I guess is because the inflationary mechanism they used wasn't a good one. But still we need to find ways to inflate them

That's the state cryptocoins are in right now, anybody who holds them is essentially an idiot. We are all idiots. I'm an idiot I'm holding 2.5M BURST, hoping that a bigger idiot will eventually show up. But I'm forced to do it. Thanks, y'all!

If you're holding a coin obviously it seems like the right decision to reduce supply, it therefore increases the value of what you own (supply/demand). However if no one cares about what you have anymore you're essentially a bag holder, so it doesn't even matter what the supply and demand end up as. There wont be any demand because people will no longer care.

Money has value because people give it value, not necessarily because the supply is limited or it does something fancy. It has a lot to do with psychology as much as it has to do with math.

The 'care' Burst has right now is it's relatively profitable, it's interesting (miners are geeks), and it has a decent community (which are almost entirely all miners). If the block reward hits rock bottom, then you better hope that there are people besides miners supporting the coin or they'll leave with the money. I don't think that's something a lot of coin makers understand. BTC and altcoins are very community driven and it all comes from the miners. We're essentially paid to care.

That's why I proposed freezing the block reward or changing it to a more manageable and more appealing form to miners. One of the biggest issues I had with going in on Burst in the first place is I have to buy hardware JUST for one coin. If Burst crashes or other alt coins don't pop up, I'm essentially stuck with a bunch of used hardware that relatively no one is going to want. I could and did sell off my GPUs, but HDs are much harder to sell used because they have a effective life time. They go bad overtime. Buying a used drive is taking a pretty big gamble.

As a miner I hoped and still do that altcoins pop up that also use POC, even if they aren't highly successful because it gives miners more options and assurance. POCs unique model would allow you to mine more then one altcoin at the same time too (use the same plots). Although I'm not sure how this will influence the economics of coins if they can all be mined at the same time (and maybe they wouldn't want to be and a replot would be required).

Playing coins will always happen. Theres always going to be people that see coins as 'get rich fast' things and the whole reason I'm mining burst right now is because I could make some money doing it. I'm not going to lie. The people that hold the coin right now also I'm sure are holding it because they think it'll be worth more, they're also here for profit. But that also means we all have a reason to work together.

I'm not sure I fully understand all of what you're saying in your post though. Payouts right now are all proportional. It's a giant pie. If you give everyone their own pie, they'll just dump them all. So while I'm against overall scarcity, there needs to be balance for income for miners. A model that's based on market volume may not be a horrible idea (but it may also cause things to explode). It'd be interesting to try for a prototype coin, but not for a established coin.

I do agree about the transaction fees. Blockrewards in general are just made to encourage people to jump in and 'get rich' early, but it deters people from staying on the coin. If the blockreward was frozen and transmission fees were increased it may just cause people to not trade the coin and that's also something you don't want. Transmission fees right now are grossly small though compared to the blockreward. If they were something like they are for BTC that wouldn't be bad... like $.04-.01 per transmission. Maybe proportional compared to the blockreward, decreasing over time.

I'm not sure exactly where the limits are on Bitcoin's scripts, but it likely is able to handle at least the simple side of the previously described transfer. Monitoring btc's blockchain would introduce a ton of unwanted traffic, and would only assist in transfering between one coin instead of any.

I'm not sure this is what you want to hear, but as your average Joe miner, I still have no idea what ATs are and what they mean to me as a miner or a user of burst. Best I can tell, you can use them as fundraisers, but there is currently no way of actually looking at them or doing anything with them without a bunch of messing around (special scripts).

That's a problem with Burst in general, it's not user friendly at all. I still think there should be a official online wallet with security and all that jazz. Since all you need is your passphrase, you should be able to access your wallet anywhere without any downloads. That's actually one of the best parts of this coin is it's all web based.

[elproducto]

Using Blago Miner 1.150319,  For some reason my network drive plots are not getting recognized.  They where recognized in 1.4 version so not sure if I need to change anything in my config.  I can navigate to the network drive using explorer.

Code:

"Paths":
[
        "Z:\\plots",
        "D:\\plots",
        "E:\\FVOFFICE"
],
"SkipBadPlots" : false,
"CacheSize" : 100000,
"UseSorting" : true,
"UseCleanMem" : true,
 
"Debug" : true,
"UseLog" : true,
"ShowMsg" : false,
"ShowUpdates" : false
}

https://i.imgur.com/HUmwxEQ.png
https://i.imgur.com/uXQS9EU.png

[bitladen]

If you're holding a coin obviously it seems like the right decision to reduce supply, it therefore increases the value of what you own (supply/demand). However if no one cares about what you have anymore you're essentially a bag holder, so it doesn't even matter what the supply and demand end up as. There wont be any demand because people will no longer care.

To begin, I think you're too stuck in the mainline bitcoin propaganda, I do know the theory, but as you can see, it's not really working out. Reason being, that some people care a lot less than others, due to the fact that they got their coins VERY inexpensively. It's a design flaw. As another user pointed out, the faster the reward is being scheduled to reduce, the more aggravated this is. However this exists even in bitcoin, but because the reward reduces a lot more slowly and hashrate is kind of stabilized, the coin still resists, it doesn't die like the others. Others (including BURST) have this scheduled too fast, I don't see them holding at this rate. In fact, we see them failing all the time.

Your proposal with freezing the reward is very good. You got a supporter already!

I am only holding 2.5M, while I have had 10% of the hashpower for a month. My 2.5M change nothing, even though it should. That's the point I'm trying to make here.

It'd be interesting to try for a prototype coin, but not for a established coin.

Of course I am talking about a prototype coin, I never said change burst, it's a bit late for that. But I got here because it seems I'm one of the main miners, and recently people have been talking about me, so I responded, and I also took the opportunity to bring my ideas to the community.

[burstcoin]

I'm not sure exactly where the limits are on Bitcoin's scripts, but it likely is able to handle at least the simple side of the previously described transfer. Monitoring btc's blockchain would introduce a ton of unwanted traffic, and would only assist in transfering between one coin instead of any.

I'm not sure this is what you want to hear, but as your average Joe miner, I still have no idea what ATs are and what they mean to me as a miner or a user of burst. Best I can tell, you can use them as fundraisers, but there is currently no way of actually looking at them or doing anything with them without a bunch of messing around (special scripts).

This is the main thing being worked on currently. I have a site I'm working on which has various AT tools, some simple, and some more advanced. It will have a AT creation tool which will allow you to choose templates and options and it will tell you what to plug into burst to make that AT. There is an AT examine tool which dumps the state of an AT and disassembles tje code so you can see what it does. On the more advances side, there's an in-browser version of the AT assembler, and an editor for creating AT interfaces. In a future update ATs will be able to have interface data attached to them so they can be interacted with without all the extra html file stuff that's currently used. I know the current toolchain is rather ugly for those without knowledge of the internals.

[bitladen]

This is the main thing being worked on currently. I have a site I'm working on which has various AT tools, some simple, and some more advanced. It will have a AT creation tool which will allow you to choose templates and options and it will tell you what to plug into burst to make that AT. There is an AT examine tool which dumps the state of an AT and disassembles tje code so you can see what it does. On the more advances side, there's an in-browser version of the AT assembler, and an editor for creating AT interfaces. In a future update ATs will be able to have interface data attached to them so they can be interacted with without all the extra html file stuff that's currently used. I know the current toolchain is rather ugly for those without knowledge of the internals.

This is interesting. AT assembler? What kind of code is this?

[bobafett]

Update and News: www.burstcoin.de

>> New Feature: German Linux Plot Optimization Guide is available

[burstcoin]

This is the main thing being worked on currently. I have a site I'm working on which has various AT tools, some simple, and some more advanced. It will have a AT creation tool which will allow you to choose templates and options and it will tell you what to plug into burst to make that AT. There is an AT examine tool which dumps the state of an AT and disassembles tje code so you can see what it does. On the more advances side, there's an in-browser version of the AT assembler, and an editor for creating AT interfaces. In a future update ATs will be able to have interface data attached to them so they can be interacted with without all the extra html file stuff that's currently used. I know the current toolchain is rather ugly for those without knowledge of the internals.

This is interesting. AT assembler? What kind of code is this?

It's assembly language for the AT vm.

Some examples can be found here, https://bitcointalk.org/index.php?topic=949438.msg10408276#msg10408276
and full specs are here http://ciyam.org/at/at.html and http://ciyam.org/at/at_api.html