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

[vipervince2002]

i hope no, because i'm holding / mining burst from the beginning,
but...
the chart it is rellay clear:
we are going to die?

Kinda doubt Burst is going to 'die', but there is way too much Burst in circulation so it's entirely possible it may halve again. This is why I mentioned there should be more then one coin that uses PoC.

Since PoC uses relatively little electricity the hash power will probably stay the same. I'm contemplating selling my HDs at the moment as it was a bad idea to invest all in on one coin, but I really don't want to take the 30% hit on of reselling them. ROI right now is completely out the window.

Burst is on a nosedive. Holders don't seem to understand that this is a coin. Thus it has to be traded. Don't hold it, dump, pump, make action on the market.
Everybody is holding and it's slowly dying. Don't dream it's gonna jump to 300 overnight. It can only happen if there is action on the market.
I said this 2 months ago, everybody was dreaming to sell it @300 back then. Now, it looks like was right, unfortunately.

So all holders (many miners included here, I assume)  dump some coins, and put a buy order. If everybody did that, we'd be well. We need action. If no trades happen, coin is dying.

And there's the other issue of fast decreasing block reward. If block reward decreases faster than the BURST/BTC value increases, it's bad news. And the value keeps decreasing!
The only reason I'm still mining BURST is because there's no other PoC coin yet. I plan to make one though, and hopefully other people will make PoC coins also.

If there were other PoC coins, many miners would have left BURST for another, and then without miners the coin is completely dead.

I hear many people criticizing me that I mine to get profit. Well, duuuuuh!!! That's why anybody mines. And thus far I ended up mostly holding.
BUT I DO SOMETHING for the coin. I MINE. I mine a lot. I do a lot for the coin. Without hashpower the coin is insecure (open to 51% attack) and therefore dead, or ready to die at any time.

I realize that I am opening up my ideas to everyone, but the point of developing a cryptocurrency is not to get rich.  That's why we have mining and the developer is usually just one of the first to start.  What do you think about these possible BURST altcoins?  Keep the discussion in the Burst forum because it does not belong on this BitcoinTalk thread.  This post is only here because there are only a few that regularly visit the Burst forum and I will delete this post if someone on the Burst development team asks me.

https://burstforum.com/index.php?threads/potential-burst-altcoins.806/

[bsom]

www.bsom.org/noncecalc

Just a little thing I whipped up for myself that I thought I'd share.  Enter the size of your hard drive in BYTES and the stagger size in MEGABYTES and it will calculate the maximum number of nonces you can plot as well as estimate how much disk space will be 'wasted'.  Good for newbies who don't know how to calculate this, or for the lazy who don't want to. :-)

[crowetic]

i hope no, because i'm holding / mining burst from the beginning,
but...
the chart it is rellay clear:
we are going to die?

Kinda doubt Burst is going to 'die', but there is way too much Burst in circulation so it's entirely possible it may halve again. This is why I mentioned there should be more then one coin that uses PoC.

Since PoC uses relatively little electricity the hash power will probably stay the same. I'm contemplating selling my HDs at the moment as it was a bad idea to invest all in on one coin, but I really don't want to take the 30% hit on of reselling them. ROI right now is completely out the window.

Burst is on a nosedive. Holders don't seem to understand that this is a coin. Thus it has to be traded. Don't hold it, dump, pump, make action on the market.
Everybody is holding and it's slowly dying. Don't dream it's gonna jump to 300 overnight. It can only happen if there is action on the market.
I said this 2 months ago, everybody was dreaming to sell it @300 back then. Now, it looks like was right, unfortunately.

So all holders (many miners included here, I assume)  dump some coins, and put a buy order. If everybody did that, we'd be well. We need action. If no trades happen, coin is dying.

And there's the other issue of fast decreasing block reward. If block reward decreases faster than the BURST/BTC value increases, it's bad news. And the value keeps decreasing!
The only reason I'm still mining BURST is because there's no other PoC coin yet. I plan to make one though, and hopefully other people will make PoC coins also.

If there were other PoC coins, many miners would have left BURST for another, and then without miners the coin is completely dead.

I hear many people criticizing me that I mine to get profit. Well, duuuuuh!!! That's why anybody mines. And thus far I ended up mostly holding.
BUT I DO SOMETHING for the coin. I MINE. I mine a lot. I do a lot for the coin. Without hashpower the coin is insecure (open to 51% attack) and therefore dead, or ready to die at any time.

Burst is really cheap right now, why would you make your own coin instead of taking that time and energy and improving on Burst?

My two cents:  People don't realize why Burst and Proof of Capacity is a big deal, and we need to educate them.  I'm working on turning that paper into blog posts and I think that should help get people interested.

Proof of Stake has some serious flaws that PoC fixes.. and most people looking for a new mining method automatically figure POS is 2nd gen and the way to go and don't realize that POC is 3rd generation yet.  And let's face it, we haven't really marketed ourselves all that much.

The biggest project I think we need to stand out from POS?  Blockchain trimming.  Still no feasible solutions for a POS system.  I don't know if you guys realize just how big of a deal this is.. but it's a very big one.  Best case scenario a miner would have to download many gigabytes of trimmed blockchain using the current system.  POC miners can get started using on about 100kB even after a few years of blockchain.. and this could be traced back to the gensis for maximum trustlessness.  The ASIC resistance and other features of POC are pretty cool too.

And @bensam1231, you have some good points!  We do need to make some of our tools more user friendly.  So anyone can mine by just saying I want to use X GB on drive X to mine, it automatically plots and mines for you from that drive. And Smart contracts were being worked on but yeah, they aren't as friendly as they could be yet.

Marketing?...

Differentiating factor: Proof of Capacity
What does it mean? Capacity for what?
Memory? Disk drive? See how this is ambiguous to a layperson?

"Burst"
What does it mean, or what is it? Has the bubble burst?

Algo name: Proof of Memory
Name: Driveshares

Obviously these are simply suggestions and other names may work, but the point is it's too technical for an average person to "get" right away, then it's too ambiguous somewhere for a layperson to "get" right away. Minor branding changes can make all the difference.

Memory and hard drive space are two completely different things. Proof of Capacity is much more true.

[bitladen]

finally some decent volume on the market. this may turn out well

[riskyfire]

finally some decent volume on the market. this may turn out well

Do you have all your Burst on Poloniex ? Holding more back would help build confidence.

[crowetic]

www.bsom.org/noncecalc

Just a little thing I whipped up for myself that I thought I'd share.  Enter the size of your hard drive in BYTES and the stagger size in MEGABYTES and it will calculate the maximum number of nonces you can plot as well as estimate how much disk space will be 'wasted'.  Good for newbies who don't know how to calculate this, or for the lazy who don't want to. :-)

Great, glad to see people developing little tools like this. Thank you!

[bitladen]

finally some decent volume on the market. this may turn out well

Do you have all your Burst on Poloniex ? Holding more back would help build confidence.

Nah, I have like 25% on Bittrex   I think I can trust them with 9 mil burst, better to be in the market than locked in the wallet

Why is it that everybody thinks that holding the coin is such a good thing?  
All coin should be traded. I made a lot of buys and sells on poloniex over the last months.

In fact that's why the price drops, if nobody makes trades, you are all bagholders. Everybody just trade some of your coins, 10% 20% of them, it's good that we see volume, let's make some more.

[Pinecone]

Ugh,  Uray pulled his buy wall off of his BCPT asset and transferred all of his Burst to another account.  Looks like he has given up on the asset and I am stuck holding the bag on my BCPT assets, Sigh........

[mczarnek]

Here's a topic to spark conversation:

Should Proof of Capacity be patented?

Burstdev seems to not be in favor of it.. so maybe it's a non-issue but I want to hear your thoughts.

I would patent it and for the sake of retaining decentralization, whoever owns the patent(I'm thinking an LLC we'd set-up), would create another legally binding document that says that Burst always has rights to use POC.  So the patent can't later be sold and be used by a patent troll against Burst.

[bitladen]

Here's a topic to spark conversation:

Should Proof of Capacity be patented?

Burstdev seems to not be in favor of it.. so maybe it's a non-issue but I want to hear your thoughts.

I would patent it and for the sake of retaining decentralization, whoever owns the patent(I'm thinking an LLC we'd set-up), would create another legally binding document that says that Burst always has rights to use POC.  So the patent can't later be sold and be used by a patent troll against Burst.

HAHAHAHAHAHAHA, what are you smoking?
In the mean time, I'll patent the wheel.

Besides, how would you enforce such a thing? It's the internets here. Nobody cares about patents. And even if they do, just make a different PoC algorithm, big deal ...not to mention that you wouldn't have my support.

[bitladen]

Erm... It's not just about selling, it's about buying too. Burst doesn't have enough demand to support everyone selling. If all the holders sold, the coin would crash. That's why it was so profitable for so long to mine, because a lot of people were holding. There is a LOT of Burst in circulation right now being held by people.

The coin price right now is what happens when the holders start selling. There isn't enough buyers. Selling and buying will just encourage more dumping unless you're buying more then you're selling.

Yes, people may leave the coin for another if there is more then one PoC coin. That's what happens when there are choices. It doesn't mean the coin is any less dead if another doesn't exist, it just means the technology has more then one home and wont die out with one coin (if the coin dies). Right now all the eggs are in one basket. Every major algo has more then one coin associated with it EXCEPT PoC.

Mining for the sake of 'security' is a self serving excuse. The coin would be fine without massive hash power much as it was before it had it. Also this is different from what you said a month ago when you were saying you hold all your coins and don't sell any. Perhaps the reason the market is crashing right now is because of you as I predicted a month ago? Burst was being propped up by a bunch of miners holding hands and not selling. You get one big miner who decides to start dumping and the coin goes with it. Good job bro.

You are a complete imbecile, and have no clue about cryptocoins.

If the coin right now had 3PB what would stop me from 51% attacking it? Certainly not the high profits I would make otherwise.  The miners need to get paid.
With no miners the coin is nowhere near fine, it's not even a coin, it's a fairy tale. Ok burst still has miners, but that's mainly because there is no other PoC out there yet.

I still hold 9 million. You are making more and more retarded claims. The market is crashing because of me? WOW. Where did that come from?
And you say the market is crashing NOW? Oh no, it's starting to be alive just now, it was dead for the past 2 months because of idiots holding to the coin, dreaming to become millionaires in 2020. They can afford to hold it though, they mined it for cheap. I will launch soon a new PoC coin with a fair block reward scheme.

But now with the recent volume on the market looks like there may still be hope for burst. Obviously, it is in my best interest that it rises.

And there are not enough buyers because there are not enough sellers. Nobody puts their money in a coin with 2 btc volume. Dump more coins and traders will join the party. Holding the coin does not make the price rise. Last 2 months illustrate this perfectly.

Why would anybody buy burst? Or dogecoin, or *coin.  Simple! to sell it for more, there's no other good reason. So in fact if you dump coins to traders, they have to do something about it, to sell it for more. That's the idea.

[bitladen]

Burst is really cheap right now, why would you make your own coin instead of taking that time and energy and improving on Burst?

Because with the deflation rate in burst, it will die out anyway. As things are, there are big holders who mined many millions for cheap in the beginning. They can't dump all at once, there are not enough buy orders, they will even hold for a while, until the situation becomes hopeless, and then it will die, just like any other altcoin.

Plus that I'm only interested in the PoC, I prefer the cryptonote platform. Sure all that assets and stuff sound good, but let's face it BTC had success because of drug trading. Anonymity is needed in the cryptoworld. The very name crypto implies anonimity.

[bitladen]

I think it's kinda backwards to implement anonymity with BURST, but CIYAM said it can be done with AT.

I offer a bounty: 1,000,000 BURST to anyone who implements anonymous transactions in BURST, and makes a simple enough interface for the average user.
Sure 1m burst is not all that much, and being a programmer myself, I understand that this won't be enough reward for the work, however I only hold 1% of the coins, other holders could join in, so we can make a big bounty.

Anonymity will give value to the coin, it would be a good reason to buy it and sell it, other than the usual pump and dump gamble. If you hold BURST, join me, let's pay CIYAM to do it

[ajw7989]

Burst is really cheap right now, why would you make your own coin instead of taking that time and energy and improving on Burst?

Because with the deflation rate in burst, it will die out anyway. As things are, there are big holders who mined many millions for cheap in the beginning. They can't dump all at once, there are not enough buy orders, they will even hold for a while, until the situation becomes hopeless, and then it will die, just like any other altcoin.

Plus that I'm only interested in the PoC, I prefer the cryptonote platform. Sure all that assets and stuff sound good, but let's face it BTC had success because of drug trading. Anonymity is needed in the cryptoworld. The very name crypto implies anonimity.

Will this coin overtake bitcoin very doubtful will it be worth a lot probably not but with the development that has been around for it it can definitely come/stay in the top 10 altcoins. I think the coin is far from dieing. Most altcoins die because they are not unique and eventually the devs give up on it.

[crowetic]

I think it's kinda backwards to implement anonymity with BURST, but CIYAM said it can be done with AT.

I offer a bounty: 1,000,000 BURST to anyone who implements anonymous transactions in BURST, and makes a simple enough interface for the average user.
Sure 1m burst is not all that much, and being a programmer myself, I understand that this won't be enough reward for the work, however I only hold 1% of the coins, other holders could join in, so we can make a big bounty.

Anonymity will give value to the coin, it would be a good reason to buy it and sell it, other than the usual pump and dump gamble. If you hold BURST, join me, let's pay CIYAM to do it

Fuck it, I'm interested a bit just to see if this can be done neatly. I'll throw 150k at it too.

[iscal]

I think it's kinda backwards to implement anonymity with BURST, but CIYAM said it can be done with AT.

I offer a bounty: 1,000,000 BURST to anyone who implements anonymous transactions in BURST, and makes a simple enough interface for the average user.
Sure 1m burst is not all that much, and being a programmer myself, I understand that this won't be enough reward for the work, however I only hold 1% of the coins, other holders could join in, so we can make a big bounty.

Anonymity will give value to the coin, it would be a good reason to buy it and sell it, other than the usual pump and dump gamble. If you hold BURST, join me, let's pay CIYAM to do it

+500,000 burst from me....

[bensam1231]

You are a complete imbecile, and have no clue about cryptocoins.

If the coin right now had 3PB what would stop me from 51% attacking it? Certainly not the high profits I would make otherwise.  The miners need to get paid.
With no miners the coin is nowhere near fine, it's not even a coin, it's a fairy tale. Ok burst still has miners, but that's mainly because there is no other PoC out there yet.

I still hold 9 million. You are making more and more retarded claims. The market is crashing because of me? WOW. Where did that come from?
And you say the market is crashing NOW? Oh no, it's starting to be alive just now, it was dead for the past 2 months because of idiots holding to the coin, dreaming to become millionaires in 2020. They can afford to hold it though, they mined it for cheap. I will launch soon a new PoC coin with a fair block reward scheme.

But now with the recent volume on the market looks like there may still be hope for burst. Obviously, it is in my best interest that it rises.

And there are not enough buyers because there are not enough sellers. Nobody puts their money in a coin with 2 btc volume. Dump more coins and traders will join the party. Holding the coin does not make the price rise. Last 2 months illustrate this perfectly.

Why would anybody buy burst? Or dogecoin, or *coin.  Simple! to sell it for more, there's no other good reason. So in fact if you dump coins to traders, they have to do something about it, to sell it for more. That's the idea.

Please, don't preach your justification at me. The fact that the coin wouldn't be worth anything if there was 3PB of hash power here. You showed up after the coin actually ended up worth something and despite dumping a lot of money into it, you only hold 10% of the network hash. You're doing more damage by dumping your mined coins then you're doing if this coin had low hash power, because you wouldn't actually mine it as it wouldn't be worth anything.

It doesn't matter how much you're holding, it's how much you're dumping. There are plenty of people that are holding that have been a part of Burst for a long time and hold more coins then you.

Volume doesn't mean the market is healthy. Just because it's moving doesn't mean it's moving in a good direction. More people will see it, they'll also see that it's crashing right now and has been on a downward trend for the last two months. Nobody puts money in a coin that is only going down. It'd be different if the market volume showed fluctuations of +/- 10% or something like that, but it's not.

Not everyone buys coins to sell them for more. Some people believe in coins and what they're mining. The whole reason so many Burst'ers are holding their coins right now. If people were here purely for the economic aspect they would've sold already as the coin is in a nosedive and no one sees the bottom at the moment.


Oh and anyone can throw out insults, you too, are a imbecile.

Burst is really cheap right now, why would you make your own coin instead of taking that time and energy and improving on Burst?

Because with the deflation rate in burst, it will die out anyway. As things are, there are big holders who mined many millions for cheap in the beginning. They can't dump all at once, there are not enough buy orders, they will even hold for a while, until the situation becomes hopeless, and then it will die, just like any other altcoin.

Plus that I'm only interested in the PoC, I prefer the cryptonote platform. Sure all that assets and stuff sound good, but let's face it BTC had success because of drug trading. Anonymity is needed in the cryptoworld. The very name crypto implies anonimity.

Will this coin overtake bitcoin very doubtful will it be worth a lot probably not but with the development that has been around for it it can definitely come/stay in the top 10 altcoins. I think the coin is far from dieing. Most altcoins die because they are not unique and eventually the devs give up on it.

Aiming for LTC would probably be a good place.

PS: BTC is in no way anonymous and is actually easier to trace then bank transactions in the real world. Cryptonote is actually anonymous. The reason BTC was and is big in drug circles is because it's unregulated, easy to move around, and impossible to put a hold on. You can't stop BTC transactions without a significant amount of hash power and even then it just delays them.

I think it's kinda backwards to implement anonymity with BURST, but CIYAM said it can be done with AT.

I offer a bounty: 1,000,000 BURST to anyone who implements anonymous transactions in BURST, and makes a simple enough interface for the average user.
Sure 1m burst is not all that much, and being a programmer myself, I understand that this won't be enough reward for the work, however I only hold 1% of the coins, other holders could join in, so we can make a big bounty.

Anonymity will give value to the coin, it would be a good reason to buy it and sell it, other than the usual pump and dump gamble. If you hold BURST, join me, let's pay CIYAM to do it

The wallet needs a complete redesign and either a installer or a easy to run .exe very similar to BTC more so then ATs with dependencies included (no java install). The same goes for a easy to run and work mining platform.

As I mentioned earlier, since this is already a web wallet you run locally, why isn't there a online version of it? All you need is your 'key' to login wherever you are. There should be a official hosted version of the wallet with some added security.

If you're going to comission things and offer bounties, offering a bounty for a 'unique' altcoin for PoC would also be a good place to start... Multiple PoC coins at that. That's actually probably better then whatever the PR team is currently doing. I've been mining for years and I don't even read bitcoin 'news' websites. I look at pools, forums, exchanges, and rigrental websites.

To that extent, figuring out a way to 'lease' hashing power of PoC is also a good way to get things moving so a multipool or a rigrental website can use your miners. However this isn't as important as some good PoC altcoins.

[bitladen]

Please, don't preach your justification at me. The fact that the coin wouldn't be worth anything if there was 3PB of hash power here. You showed up after the coin actually ended up worth something and despite dumping a lot of money into it, you only hold 10% of the network hash. You're doing more damage by dumping your mined coins then you're doing if this coin had low hash power, because you wouldn't actually mine it as it wouldn't be worth anything.

Since you're such a genius, you tell me if I mined 13m and still have 9m, how much did I dump?

The interface is pretty nice. And if you can't install java, take computer lessons, asshole

PS: Speaking of bounties, how much do you charge to get the fuck out of here, you're an idiot. BTW, I don't insult *everyone*, just you and a few other idiots.

[smaxer]

Will this coin overtake bitcoin very doubtful will it be worth a lot probably not but with the development that has been around for it it can definitely come/stay in the top 10 altcoins. I think the coin is far from dieing. Most altcoins die because they are not unique and eventually the devs give up on it.

What`s about our dev?
Last Active:    May 01, 2015, 09:08:39 PM

I think it's kinda backwards to implement anonymity with BURST, but CIYAM said it can be done with AT.

I offer a bounty: 1,000,000 BURST to anyone who implements anonymous transactions in BURST, and makes a simple enough interface for the average user.
Sure 1m burst is not all that much, and being a programmer myself, I understand that this won't be enough reward for the work, however I only hold 1% of the coins, other holders could join in, so we can make a big bounty.

Anonymity will give value to the coin, it would be a good reason to buy it and sell it, other than the usual pump and dump gamble. If you hold BURST, join me, let's pay CIYAM to do it

+500,000 burst from me....

I will add +500,000 too.

[bitladen]

1,000,000 from me

Fuck it, I'm interested a bit just to see if this can be done neatly. I'll throw 150k at it too.

+500,000 burst from me....

I will add +500,000 too.

2,150,000  within 4 hours. WOW. Maybe this will happen!
Hell, if it reaches 10M I'm interested in coding it myself if y'all don't mind

CIYAM sent me a message, he's like he coded AT, and is unhappy that nobody is using it. He is still the best candidate for the job, if he wants to take it.
maybe at 10M he will change his mind