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

[Irontiga]

I have to say, I'm loving burst so far, but I have a long term concern.

You guys talk about things like how decentralized burst is, right alongside statements praising new developments like gpu mining.

I can't help but see those sorts of things as counter to each other in the long term.  What, in the future, would prevent relative few whales from putting up massive rigs fast connected to a few petabytes of storage, with GPU's driving utterly ridiculous numbers of nonces?  (working in IT for the last two decades, that sort of rig isn't really too hard to imagine, just damned expensive)  

Meaning it's not so decentralized when you need a minimum of 100T of dedicated storage just to make a dent.  You end up with pretty much bitcoin today, but without the userbase/value.  So, I've gotta ask, if there's something in the economic model that accounts for this?  Or are we just figuring expensive is good? (hopefully in terms of exchange rate too, right?)

With bitcoin one can rent heaps of mining power for a couple hours and 51% attack. With Burst it isn't that easy. You first need to plot, and that will take a lot of hours. It's very rare anywhere to find a lot of gpu's hooked up with a load of hdd's. With this setup, it isn't really worth the attack, cause of the massive investment it takes. It's a bit like PoS, by attacking the network you are hurting yourself as well. Attacking the network damages it, and for anyone with plots this is not good. As the netsize increases it becomes much, much more secure.

Economically, Burst is not in a good place. 8PB is a lot storage, if you look at storj/sia's storage goals, we currently exceed them by a lot. Unfortunately our storage is not being used by files, but rather just nonces. But then when you look at storj and sia and maidsafe, their blockchains are either PoS (not my preference), or scypt/sha stuff. This is far from efficient. I believe that if we can get a storage system running on top of burst, using burst (kinda like storj on mastercoin, but using mastercoins for payment). Actually it'd be more like sia. Decentralized storage built in, but also the ability to rather share storage as well. This way people without lots of bandwidth can still mine, and those with lots of bandwidth can earn for storage sharing. A simple application can be built which allows you to automatically "mine" whatever is the most profitable, whether it be getting paid by others to store their files, or it be to mine coins and secure the blockchain.

I realize that most coins use a model of a decreasing block reward, and so does burst. Thing is though, all coins pretty much have the same issue, those who got in at the beginning are making loads, and can pretty much crash the coin due to how much they have. Imagine satoshi dumping all the btc he might have. Or someone else up there. Not good. I think that we should change burst from this model. I'm open to lots of discussion, and would love to hear how the community feels about this. My proposal is to freeze the block reward, and leave it what it is now forever. This will make burst's total supply unlimited, and seeing as the reward is already down quite a lot, the initial buyers and miners still have an advantage, but from this point on it's fair. Although the amount of coins being introduced daily then would remain constant, inflation % would decrease.

Another issue which burst is currently facing is a lack of funding and devs. All the clones have loads of it, and i dunno what to do about it. If nothing happens here then Burst is dead. It's the hard reality of it.

If idiot elmit is going to keep on abusing this thread complaining then all i can say is that he is a really sad person with no respect for anyone. I wrote my own faucet code, so stop complaining elmit. I realize that you wouldn't be able to code your own faucet, but that doesn't mean i can't. I'm actually over all this with you. If you don't stop then everyone's gonna quit. Everyone know's that your assets are a scam, if people still go ahead and buy then, well i can't stop them from banging their heads on a wall.

EDIT: Forgot something I would also likely be for some modifications to make burst more cpu intensive. This would be less efficient, true, but it would also make it harder for datacenters to get involved. Most average users have a lot higher cpu vs hdd ratio. I mean, they have enough cpu power to mine with a lot more hdd space than they generally have available, while currently the algo is quite low cpu, which is great for datacenters. It would also make it more attractive for miners who currently mine scrypt coins and bitcoin, as gpu's would be used more heavily there, giving them an advantage if they buy some hdds

[allZuckedUp]

That is a really well thought out answer.. thank you.

Most average users have a lot higher cpu vs hdd ratio.

That part is funny to me specifically... I don't disagree, at all. But, in my case, I've got an old hp thin client (not much better than a raspberry pi in cpu power and power usage, and only 1G RAM), and I've got 4 1T USB disks plugged into it... I think I'm screwing with your ratio.

[Irontiga]

That part is funny to me specifically... I don't disagree, at all. But, in my case, I've got an old hp thin client (not much better than a raspberry pi in cpu power and power usage, and only 1G RAM), and I've got 4 1T USB disks plugged into it... I think I'm screwing with your ratio.

Well, we have to make it hard for the techy guys ;P

And oh dear, i just noticed that all the stuff i host is down, i'm on it!

EDIT: Oh dear, looks like ddos.....

[haitch]

But Elmit, you still haven't answered, and actually just deleted as "nonsense", my request that you explain why:

1) You won't prove the 28TB you claim is backing you asset
2) Your asset only pays 1/3 of what it should, based on your own claims of what the asset is.

Can you get back to these items and explain please?

Thanks.

H.

[tanoury]

Help me mine at the DevPoolv2. I've been mining at various other Burst pools without a problem. When I try to connect to the DevPoolv2 I get this message in pocminer:

Warning: no passphrases.txt found
Mining without passphrases is currently not supported

Here is my run_mine.sh:

java -Xmx750m -cp pocminer.jar:lib/*:lib/akka/*:lib/jetty/* pocminer.POCMiner mine "http://178.62.39.204:8121"

The passphrases.txt contains your BURST passphrase and is no needed for poolmining, so setup is not correct. Check usage at: http://178.62.39.204:8121/ you need to use pocminer_pool.jar!
Btw. there are also other miners out there, that support DevPoolV2 like:
https://github.com/Blagodarenko/miner-burst/releases
https://github.com/de-luxe/burstcoin-jminer/releases

A couple of things I'm not clear on:

1. Do I need to genrate new plots to mine at DevPoolv2?

2. My plots are on three hard drives. Do I just provide a link (short-cut) to them in the pocminr plot folder?

1. No, if you have plot-files for your account, you can use them for devV2Pool, too.
2. Multiple drives are not supported by pocminer, you need to run 3 instances or find a 'hack' to link them into one drive. The other miners above support multiple drives, they are optimized for that, by using one thread for each drive. For example look at jminer config: https://github.com/de-luxe/burstcoin-jminer/blob/master/jminer.default.properties

Thanks for the response luxe!

I do not  have a  passphrases.txt (I renamed it) and I am using pocminer_pool.jar!
All I'm getting is "Warning: no passphrases.txt found Mining without passphrases is currently not supported"

Is there something wrong with my pocminer_pool.jar?

java -cp pocminer.jar:lib/*:lib/akka/*:lib/jetty/* pocminer.POCMiner mine http://127.0.0.1:8125 http://178.62.39.204:8121

[Elmit]

But Elmit, you still haven't answered, and actually just deleted as "nonsense", my request that you explain why:

1) You won't prove the 28TB you claim is backing you asset
2) Your asset only pays 1/3 of what it should, based on your own claims of what the asset is.

Can you get back to these items and explain please?

Thanks.

H.

Why would I need to proof "the 28TB", can't you read the web?
You can verify everything with the blockchain you need to know.

End of the story!

[Elmit]

1.45 PetaByte asset is still cheap available. Get it before the price lined up takes effect.

PetaByte is a mining asset. 1 PetaByte asset is equal to a mining power of 1 TB hard disk.
The mined rewards are distributed to all asset holders at the first days of the month for the previous month.

UNIQUE to all other assets is, that it is not important how long you owned the asset, but when you owned you get paid according to your asset shares.
We all know that you cannot buy 0.03 TB hard disks, but you can buy 0.03 PetaByte assets, that is equal to a hard disk of 0.03 TB.

Why let your BURSTs sit around and do nothing? Buy PetaByte assets instead and put a sell order to it. As long you own it you earn and it is gone as soon somebody buy it.

PetaByte asset you can buy by:
1. open your wallet
2. click on Asset Exchange
3. Add Asset ID 14668748687827404894
4. On the left side you see the offers of PetaBytes, click on Buy PetaByte with BURST
5. Fill in Quantity and use the suggested Price BURST/PetaByte
6. The form will display how much you need to pay for, including fee. If you have enough BURSTs in your wallet, click on Buy (BURST -> PetaByte)

Within a few confirmations, you are the new owner of PetaByte assets.

Enjoy earning, while we do the mining work for you.

Still 0.54807 cheap available

[atomy1world]

I want to start mining, but need some BURSTs. I tried http://faucet.burstcoin.info/
It seems to be broken (or empty).

Is there another faucet available?

[Elmit]

That part is funny to me specifically... I don't disagree, at all. But, in my case, I've got an old hp thin client (not much better than a raspberry pi in cpu power and power usage, and only 1G RAM), and I've got 4 1T USB disks plugged into it... I think I'm screwing with your ratio.

Well, we have to make it hard for the techy guys ;P

And oh dear, i just noticed that all the stuff i host is down, i'm on it!

EDIT: Oh dear, looks like ddos.....

It seems they got problems. I will make another one by next week, but for now, just give me your BURST address and I send you some.

[atomy1world]

That part is funny to me specifically... I don't disagree, at all. But, in my case, I've got an old hp thin client (not much better than a raspberry pi in cpu power and power usage, and only 1G RAM), and I've got 4 1T USB disks plugged into it... I think I'm screwing with your ratio.

Well, we have to make it hard for the techy guys ;P

And oh dear, i just noticed that all the stuff i host is down, i'm on it!

EDIT: Oh dear, looks like ddos.....

It seems they got problems. I will make another one by next week, but for now, just give me your BURST address and I send you some.

Wow that is a very fast community!!!

Here is my burst address:
BURST-3CJW-TGLY-W9PV-EYDVQ

[Elmit]

I have sent you 1000 BURSTs to start with.

Add a name to your account.

In case you have not decided which pool to use, try http://BURST.MiningHere.com
View details under Mining and follow instructions.
Set the reward recipient to 10681581906896806002

Good luck!

[atomy1world]

Thanks! I got them, but the balance still shows 0.

[Elmit]

Thanks! I got them, but the balance still shows 0.

You need to wait for confirmations, then the balance goes up and you can use your BURSTs.

[luxe]

Is there something wrong with my pocminer_pool.jar?

java -cp pocminer.jar:lib/*:lib/akka/*:lib/jetty/* pocminer.POCMiner mine http://127.0.0.1:8125 http://178.62.39.204:8121

you are not using pocminer_pool.jar ...

[brizio71]

Hi,

I'm plotting some new files using wplotgenerator during the creation the computer crashed and I get just the 60% of the plot, can I resize this plot in order to use it or I have to delete it and generate a new one ?

Thanks

[Irontiga]

Hi,

I'm plotting some new files using wplotgenerator during the creation the computer crashed and I get just the 60% of the plot, can I resize this plot in order to use it or I have to delete it and generate a new one ?

Thanks

The plot is probably fine. You can create a new one the size of 40% of your original, or you can just start the plotting again, it should pick up where it left off.

[alexrossi]

Is still profitable mining burst? What quantity of TB now makes sensed starting a mining operation?

[Irontiga]

Is still profitable mining burst? What quantity of TB now makes sensed starting a mining operation?

Not if ur buying hdd's to mine burst. Mining with free space that you just sort of have lying around, YES!!! Any amount of tb is fine on a pool.

[haitch]

But Elmit, you still haven't answered, and actually just deleted as "nonsense", my request that you explain why:

1) You won't prove the 28TB you claim is backing you asset
2) Your asset only pays 1/3 of what it should, based on your own claims of what the asset is.

Can you get back to these items and explain please?

Thanks.

H.

Why would I need to proof "the 28TB", can't you read the web?
You can verify everything with the blockchain you need to know.

End of the story!

I can read the blockchain very well, and it indicates you have around 12TB, not the 28TB you have sold or have for sale. So where's the proof you have 28TB, and why does your asset only pay 1/3 of what it should?

H.

[haitch]

I have sent you 1000 BURSTs to start with.

Add a name to your account.

In case you have not decided which pool to use, try http://BURST.MiningHere.com
View details under Mining and follow instructions.
Set the reward recipient to 10681581906896806002

Good luck!

Mine at any pool OTHER than mininghere.com. Elmit will just steal your hard earned Burst ....

H.