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

[BurstIncomeAsset]

My HW supplier just confirmed the 16TB has been sent. I will probably get them monday. probably online tuesday and be plotted more and more the following days. As I need some of the TB for other purposes i expect only to add 10TB to the network, but still it means bitladen needs to add 10TB too.  And i bought these, it's not cloud, i can have them running forever at very low cost


... and should it come to a who has the longest penis contest, clound miners will bleed much more cash than those who have bought the hardware outright. My only expense is electricity.

We got a hero of BURST here!

After you set it up and we see a spike in network capacity I will send you a donation from our segregated BOUNTY funds! You really deserve it, by helping BURST so much!

Anybody else wants to help BURST really kick-off? 

[DickSwagger]

I think i got the Illuminati onboard..
Wont be long now

[DickSwagger]

I think i got the Illuminati onboard..
Wont be long now

No idea why my images dont post. Its realy becoming a problem i want to sort out lol

[crowetic]

Alright, upon some more thinking and speaking with bit, he has decided a few things...


1. He will offer an asset based on part of his mining power. It will start with a small release, and there will be more in the future if the small release works as planned.

2. If this release is something that is accepted by the community, as a BURST asset, and an attempt to show good faith, and be in agreement with what many of the people that are against his ideas say... this will be something that both shows that bit actually DOES care about the coin, and give something to the community. This will give another asset to invest in on the network that is backed by an obviously large mining setup.

3. If there is no further bashing of him and this asset is taken as what it actually is, and not slandered by the community members that continue to be against him, and the negativity stops, he too will remove his threat of an attack on the network, and will continue to release small packages of his assets until he sells up to 40% of his mining power.


I believe this would work out for everyone involved. I will be the one to start the asset and manage it. Here are the details... we can modify them, but this is the initial idea...


First Release - a small release of 50TB equivalent power (the power will be based on an average of bit's total power divided by the amount sold. Bear in mind he is a solo miner, so he doesn't pay pool fees, etc. The power will be 100% of the mining reward ((for the first 6 months.)) After the first 6 months, the asset will begin charging a 10% maintenance fee. The asset is lifetime* which in this particular situation we're going to define like this... lifetime means, this asset will run for a guaranteed time of a year. As long as there are no physical issues with hardware, the asset will continue as long as it can. The guaranteed run time is a year, but it is highly likely given that BURST doesn't cause damage to hardware, that it will run MUCH longer.

crowetic, trusted long-term team and community member who has done a lot of work regarding BURST, will be the one to setup the assets based on how much hashpower (space) bit would like to sell at that time, and manage the asset's initial sales. Payouts would happen either weekly or monthly, that is currently up for discussion.

calculations are going to be based on bit's total mining capacity which is 1.7PB+ and will be increasing, divided by how much power the asset is worth. No fees will be included for the first 6 months of the asset release. Since assets cannot be setup in a monthly way, the first 6 months will stay the first 6 months, regardless of when you purchase the asset. Meaning, the people who get in quicker upon asset release, will benefit more from the first 6 months without fees.

After the initial 6 month time, 10% of the asset payouts will be withheld as a maintenance fee. This will continue until the guaranteed year is over, at which point the maintenance fee is up for renegotiation. it is likely that the fees will go up after the first year to accommodate for hard drive's given natural decline in function, and allowing the asset to be renewable. it is likely that the 10% will go to 15 or 20 at year 1 mark, and after that every 6 months will go up another 5%.

The overall goal here is to unite the community in the main goal to make BURST more popular and valuable. The release of assets was mentioned as a great idea to do this, and thus bit and I have discussed this asset to begin to prove to the community that he is not against the coin.

I would like to see the initial reactions about this, but I believe it is a great idea, and truly hope it makes the community and bit stop fighting with eachother and causes the 51% threat to be willingly removed.

[pinballdude]

My HW supplier just confirmed the 16TB has been sent. I will probably get them monday. probably online tuesday and be plotted more and more the following days. As I need some of the TB for other purposes i expect only to add 10TB to the network, but still it means bitladen needs to add 10TB too.  And i bought these, it's not cloud, i can have them running forever at very low cost


... and should it come to a who has the longest penis contest, clound miners will bleed much more cash than those who have bought the hardware outright. My only expense is electricity.

We got a hero of BURST here!

After you set it up and we see a spike in network capacity I will send you a donation from our segregated BOUNTY funds! You really deserve it, by helping BURST so much!

Anybody else wants to help BURST really kick-off?  

10TB is not enough for us to see a spike, say we have 10PB, then 10TB is only 1/1000  so it's as little as 1/1000 increase in network size. You will not be able to detect it.  But an attacker will have to pony up for 10TB more than he otherwise would, and i am not the only one putting more plots online.

[pinballdude]

Alright, upon some more thinking and speaking with bit, he has decided a few things...


1. He will offer an asset based on part of his mining power. It will start with a small release, and there will be more in the future if the small release works as planned.

2. If this release is something that is accepted by the community, as a BURST asset, and an attempt to show good faith, and be in agreement with what many of the people that are against his ideas say... this will be something that both shows that bit actually DOES care about the coin, and give something to the community. This will give another asset to invest in on the network that is backed by an obviously large mining setup.

3. If there is no further bashing of him and this asset is taken as what it actually is, and not slandered by the community members that continue to be against him, and the negativity stops, he too will remove his threat of an attack on the network, and will continue to release small packages of his assets until he sells up to 40% of his mining power.


I believe this would work out for everyone involved. I will be the one to start the asset and manage it. Here are the details... we can modify them, but this is the initial idea...


First Release - a small release of 50TB equivalent power (the power will be based on an average of bit's total power divided by the amount sold. Bear in mind he is a solo miner, so he doesn't pay pool fees, etc. The power will be 100% of the mining reward ((for the first 6 months.)) After the first 6 months, the asset will begin charging a 10% maintenance fee. The asset is lifetime* which in this particular situation we're going to define like this... lifetime means, this asset will run for a guaranteed time of a year. As long as there are no physical issues with hardware, the asset will continue as long as it can. The guaranteed run time is a year, but it is highly likely given that BURST doesn't cause damage to hardware, that it will run MUCH longer.

crowetic, trusted long-term team and community member who has done a lot of work regarding BURST, will be the one to setup the assets based on how much hashpower (space) bit would like to sell at that time, and manage the asset's initial sales. Payouts would happen either weekly or monthly, that is currently up for discussion.

calculations are going to be based on bit's total mining capacity which is 1.7PB+ and will be increasing, divided by how much power the asset is worth. No fees will be included for the first 6 months of the asset release. Since assets cannot be setup in a monthly way, the first 6 months will stay the first 6 months, regardless of when you purchase the asset. Meaning, the people who get in quicker upon asset release, will benefit more from the first 6 months without fees.

After the initial 6 month time, 10% of the asset payouts will be withheld as a maintenance fee. This will continue until the guaranteed year is over, at which point the maintenance fee is up for renegotiation. it is likely that the fees will go up after the first year to accommodate for hard drive's given natural decline in function, and allowing the asset to be renewable. it is likely that the 10% will go to 15 or 20 at year 1 mark, and after that every 6 months will go up another 5%.

The overall goal here is to unite the community in the main goal to make BURST more popular and valuable. The release of assets was mentioned as a great idea to do this, and thus bit and I have discussed this asset to begin to prove to the community that he is not against the coin.

I would like to see the initial reactions about this, but I believe it is a great idea, and truly hope it makes the community and bit stop fighting with eachother and causes the 51% threat to be willingly removed.

It's a fine idea, and a way for people to get into mining without all the hassle of figuring how to get the hardware up and running. Also much easier to get out again when it's an asset, you just sell the asset. Much more efficient than having to sell 50TB used USB3 drives or whatever.

[wmikrut]

It's a fine idea, and a way for people to get into mining without all the hassle of figuring how to get the hardware up and running. Also much easier to get out again when it's an asset, you just sell the asset. Much more efficient than having to sell 50TB used USB3 drives or whatever.

I like it.
I'll be the first to offer to purchase some of the Asset to show -- I want this fighting to stop and let's get going already!!

[bobafett]

how can investors cashout?

[wmikrut]

how can investors cashout?

Buying and Selling of an Asset?

[bobafett]

So again people should trust and give someone they dont know their money. If bin just disapear the money is lost and everybodys crying.

Dont be so foolish. You need the real name, the real adress, clear terms, clear what happens with you investment if the. Asset shits down...that you can take leagsl cations if nessesary.

[wmikrut]

So again people should trust and give someone they dont know their money. If bin just disapear the money is lost and everybodys crying.

Dont be so foolish. You need the real name, the real adress, clear terms, clear what happens with you investment if the. Asset shits down...that you can take leagsl cations if nessesary.

Agreed... there should definitely be some requirements that should be met -- inclusive of the information you mentioned.

[BurstIncomeAsset]

My HW supplier just confirmed the 16TB has been sent. I will probably get them monday. probably online tuesday and be plotted more and more the following days. As I need some of the TB for other purposes i expect only to add 10TB to the network, but still it means bitladen needs to add 10TB too.  And i bought these, it's not cloud, i can have them running forever at very low cost


... and should it come to a who has the longest penis contest, clound miners will bleed much more cash than those who have bought the hardware outright. My only expense is electricity.

We got a hero of BURST here!

After you set it up and we see a spike in network capacity I will send you a donation from our segregated BOUNTY funds! You really deserve it, by helping BURST so much!

Anybody else wants to help BURST really kick-off? 

10TB is not enough for us to see a spike, say we have 10PB, then 10TB is only 1/1000  so it's as little as 1/1000 increase in network size. You will not be able to detect it.  But an attacker will have to pony up for 10TB more than he otherwise would, and i am not the only one putting more plots online.

But it's still like a 500-1000$ invesment or around that. I dont know exactly how much a 10 TB harddisk costs.

More people should do the same, and slowly but steadily, we can save the coin, and not just save it, but make it prosper!

[callmejack]

I haven't posted here for a few months now but what is this talk about taking block reward to devfund? this has to be a joke right? there is no way thats gonna work.

Also raising the block reward won't attract new miners. It will only turn on the cloud-mining that was shutdown when burst hit ~30-40 satoshi, now it's not worth mining so they shut it down. If you want an even lower price of burstcoin then yes increase the block reward because it will cause more dumping - because now cloudmining is profitable again.

i dont know anybody who has a useful working cloud mining szenario. exept perhaps bin.

depends on how you define cloud.
if you speak about rented machines maybe not but there are some people i know who hooked up a couple of machines mining in the one pb region all together.
if a rented cloud is profitable depends totally on the prices. the best offer which i have found is about 5$/TB a month in 16TB chunks (unformatted).
https://www.hetzner.de/ot/hosting/produkte_rootserver/sx60

if you know the right people you may get this much much cheaper if you buy spare capacity.
then running a pb costs about 1000-1500$ a month.
at current btc exchange levels you still run it with about 70% loss if you directly dump but if you would constantly buy for 2 btc each month you could not get it such cheap for long since only from yesterday to today about 4m burst left polo as regular withdrawals.



 

[BurstIncomeAsset]

For example

1) Miners should definitely put some more money in, and upgrade their equipments

http://www.ebay.com/bhp/10tb-hard-drive

2) Investors & speculators need to invest in BURST

3) Innovators & entrepreneurs should open new assets, that represent legitimate investment methods or services
(people could set ads on their websites and distribute the revenue between shareholders, I`m sure there is nobody doing this in BURST yet, so you got 1 tip)

4) Developers & programmers, should check the code, and work on it to improve it, while consulting with the other users frequently

5) Other users should atleast put BURST in their signature/avatar/personal text, and promote it on other threads, to get new members to help our community!


Follow these 5 steps, and BURST will be succesful! 

[Hix]

At some point the coins generated will be less than the buying pressure on the markets. From that point on, the price will rise. (assuming we get enough features in, and enough marketing out, that the world wants to use the coin at all)

That is poor baseless dreaming. What makes you sure that such a point will exist, what would create such point to increase the price?
What are the features, you are believing would make the world wanting the coin at all?

We do have great features, and still nobody wants the coin! AT, crowdfunding, lottery, assets, escrow, ...

I believe only a targeted marketing could bring us to such a point. For this more than two people on Twitter are necessary!

I want the coin. I mine and hold bc i see value.
i am not alone, not at all alone.
even with only the feature set today, the coin could be worth a lot more, if services were built up around it.
Also, it is evident that there ARE buyers on the exchanges, so i would assume that lower selling pressure will translate into rising prices at some point. Before bitladen had his 2tb and dumped them, we were above 100 sat.  That might be because the miners back then mostly mined and held. Perhaps bitladen is planning to sell his 2TB and buy a lot of burst on the cheap, that is almost the only thing that makes sense reg. what he has done over time. He could not drive the price down much more effectively than he has done.

Exactly. He is trying to brainwash us. I understand why Elmit support him. Obvoius troll is obvious, but crowetic? Wake up guys. Don't touch burstcoin fundaments.

Get something more to the table than just: I don't want that.
Use your brain/imagination, color it if you want, but tell us why you cannot or do not want understand what crow proposes.
It makes sense to me what he said, but absolutely no sense what you said.

Elmit i don't have to prove you anything. You can write here whatever you want, but my troll detector blocking you right now

You are right, YOU cannot proof to me anything. Yes, I write here whatever I want.
There is an old saying: Don't point finger against somebody, because 3 fingers are always pointing back at you. ;-)

Elmit How much burst coins you are holding ?

Not many, why?
What does it matter in this thread?
Why should I keep them?
How many do you have?

You are not holding coins and talking about future of it? What are you doing in this topic? Want fast profit and leave?
I am holding ~3% of all burst.

[pinballdude]

So again people should trust and give someone they dont know their money. If bin just disapear the money is lost and everybodys crying.

Dont be so foolish. You need the real name, the real adress, clear terms, clear what happens with you investment if the. Asset shits down...that you can take leagsl cations if nessesary.

personally i would not trust bitladen, he has shown that his morale is if he have the ability to do something bad to others and they cannot retaliate, then he is on morally sound ground to do the bad thing.

my philosophy and morale is more along that i won't do anything bad to others even if i can. (bad being breaking an agreement, stealing stuff, or cheating or misleading people on purpose)

my philosophy is also to try to avoid dealing with people who i fear would cheat me, unless i have a way to retaliate. In general i just don't trade with them, cause all the paperwork is tedious

on the other hand i would have no problem trusting crowetic, i have never seen him run from his promises, so he has a lot of trust from me.

The two combined, i don't know, it would come down to how well crowetic had shielded himself from bitladen trying to cheat. I might choose to invest directly in some of crowetic's assets instead of the new one, to avoid being hustled by bitladen.


Other people have other ways of measuring risk and doing deals, i am sure it is perfectly possible to deal with bitladen and have success with that, all you have to do is watch your back a bit more than usual. He has shown that he have no problem taking advantage of a temporary situation to make you do things you don't want to do. If you don't give me your toy, i will destroy it kind of behavior.

[crowetic]

how can investors cashout?

The asset pays weekly, there will be no buy wall as this is a mining asset, the only way we would need to buy it back is if the mining unexpectedly failed. The way you would cash out aside from getting your money back letting the asset mine, would be to trade it.

[BurstIncomeAsset]

how can investors cashout?

The asset pays weekly, there will be no buy wall as this is a mining asset, the only way we would need to buy it back is if the mining unexpectedly failed. The way you would cash out aside from getting your money back letting the asset mine, would be to trade it.

Do you have a new asset? Why not put a ANN in the AE thread?

https://burstforum.com/index.php?forums/asset-announcements.56/


Also we got a 5 day average and it turns out we generate ~0.2373% /day and ~7.3695% /month
https://burstforum.com/index.php?threads/ann-income-asset-decentralized-referral-empire-based-income.839/page-4


Also the security certificate of the burst forum has expired. I think It should be renewed or fixed.


Also I think that we should start using the burst forum too, this thread is too little to debate/explain/communicate with eachother, and it gets pretty crowded. After all we got a burst forum too!

https://burstforum.com

[Elmit]

Pool Statistics
Current time: 2015-09-11 22:40:28 UTC
Block: 141,746
Difficulty: 5,810
Est. Networksize (PB): 6.0927501270687

[crowetic]

I haven't officially started anything yet, wanted to get a gauge on reaction from people.


I would be the one putting the asset out, the point of doing an initial release as something small, would be both to do a small intro in case of failure, and to see how things go overall. I would make sure that if it were something I put my name on, it would be something I would be able to bail out in case of a bad outcome.

yes, boba, this means that it would be ME that would fix the problem should one arise. I'm far from anonymous.

But I don't think bit would screw me. I know how most of you feel about him, but I don't feel that way.