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

[wmikrut]

Well, I have been at this for a LONG time... and I am definitely a holder.
Why?

Most times when a coin is released it looks great on paper and function, but a lack of supporting service causes the hold.
For example, I am holding a lot of Burst.  I am still hoping a 'cryptothrift' opens up where I can trade for goods/services directly with Burst.

Will it ever materialize?  Perhaps if there is enough popularity around the coin.
If not, then -- I am holding a lot of 'exchange only' coins.

Currently I hold a LOT of 'exchange only' coins.

[carboncredit]

Sad thing to see that pool offline: http://cryptomining.farm/

very sorry, i'm on holiday
it' online now
 

[bitladen]

Well, I have been at this for a LONG time... and I am definitely a holder.
Why?

The thing is, you can't just hold, you have to pump, in order to back up your holding strategy.

Most times when a coin is released it looks great on paper and function, but a lack of supporting service causes the hold.
For example, I am holding a lot of Burst.  I am still hoping a 'cryptothrift' opens up where I can trade for goods/services directly with Burst.

Even if it does, the prices will reflect the risk of dealing with burst, burst is far too unstable, and it's only going down. The store has to find a way to dump real quick. 6 confirmations until you get it to polo may put you at risk, if you would accept the coin at the top buy value. You can hold a stash of burst on polo, but then that's also a risk.

Currently I hold a LOT of 'exchange only' coins.

Yes, and you need to pump. Of course, you don't hold all the burst, so it doesn't make sense that you pump it alone. It would be fair if all holders would participate. I actually made an attempt to pump it along with a few other holders, but somehow I ended up supporting at least 50% of the buy orders, while having only 20% of the coins, in our group. I tried, but did not get much help from the community.

[crowetic]

I don't know why people seem to want to make me talk with extra large letters to get my point across... nor the fact certain people seem inconsolably dense... BUT...



REGARDLESS OF MY FEELINGS ON BITLADEN, I HAVE SAID MULTIPLE TIMES TO THIS COMMUNITY, AND IN FACT BITLADEN HIMSELF IN PRIVATE CONVERSATION, THAT I WILL NEVER MALICIOUSLY ATTACK THE BURST NETWORK WITH ANYTHING THAT I OWN OR AM IN CONTROL OF.


Now, does this clear everything up for everyone?


We're in talks that are actually very constructive, as opposed to sitting here TRYING to start sqabbles, after I implicitly asked you (yes, you boba...) if we could just quit with the incessant squabbling over nonsense.

Now, are you going to continue to publicly bash my pool without reason? Or are you going to be an adult and quit the nonsense?


Seriously, I don't get acting like a child because I've had a larger pool for a longer period of time.

You know WHY? Because I've been a trusted 'leader' in this coin for a VERY long time, and I've been a miner since DAY ONE. I have and always will support the coin, once again I say... REGARDLESS OF MY PERSONAL FEELINGS OF ANYONE, INCLUDING BITLADEN.

Now, was this large enough for you to see?

[12gaFacelift]

Sad thing to see that pool offline: http://cryptomining.farm/

very sorry, i'm on holiday
it' online now
 

ok ok im moving again since i was on your pool first but i will take the test on the other pool and add mining for them each week.

[vaxman]

We need more hashpower to protect the coin ?
I've put something up for sale here before I go to ebay in a week or two;

http://burstcoin.info/market/

32TB Hardware Raid,
price in Burst translates to ~660$ (580€)
including plotting to your specs.

Many of those available, but I can only plot 1 or 2 a week.

Systems are most likely 5 years old, disks about 2 years.
19" 3RU
2 GiB RAM cache
2x 4GBit/s Fibrechannel host ports
HBAs available for PCIe or PCI-X (works in PCI-slot, when there is enough clearance for the card)

Questions ? -> send PM

[paduser]

We need more hashpower to protect the coin ?
I've put something up for sale here before I go to ebay in a week or two;

http://burstcoin.info/market/

32TB Hardware Raid,
price in Burst translates to ~660$ (580€)
including plotting to your specs.

Many of those available, but I can only plot 1 or 2 a week.

If the coin has more value it would automatically increase the hashpower.

[bitladen]

If the coin has more value it would automatically increase the hashpower.

That's exactly what I've been saying all this time. I'm glad to get some approval.

[pinballdude]

Well, I have been at this for a LONG time... and I am definitely a holder.
Why?

The thing is, you can't just hold, you have to pump, in order to back up your holding strategy.

why? If you hold, it is up to the other participants in the market to find a price for the coin. Lots of people hold silver and gold, and do not try to move the price higher or lower. Idea is that if you buy burst now for what 1hr of work costs, then in 100 years, your burst will still get you about what 1hr of work costs. Because the number of burst is constant. ( okay half that, because we still have to mine the other half of the burst coins ).   on top of that, price will be different according to how many people actually use burst.

Most times when a coin is released it looks great on paper and function, but a lack of supporting service causes the hold.
For example, I am holding a lot of Burst.  I am still hoping a 'cryptothrift' opens up where I can trade for goods/services directly with Burst.

Even if it does, the prices will reflect the risk of dealing with burst, burst is far too unstable, and it's only going down. The store has to find a way to dump real quick. 6 confirmations until you get it to polo may put you at risk, if you would accept the coin at the top buy value. You can hold a stash of burst on polo, but then that's also a risk.

i agree that even people accepting bitcoins for stuff are mostly exchanging the BTC they earn into usd, because most of their expenses are in usd. As more and more services can be bought with BTC, i think more and more people will keep some earned BTC and use them to buy supplies with BTC later on. Saves them exchange expenses. So they will hold some BTC for a while.  If they figure usd is more prone to going down in the long run than BTC they might also keep value in BTC as opposed to USD. USD is supposed to lose 2% value each year, over 50 years that translates to most of your money gone. BTC on the other hand, will not lose value due to more coins ( than the 20 mil ) coming into existence.

Currently I hold a LOT of 'exchange only' coins.

Yes, and you need to pump. Of course, you don't hold all the burst, so it doesn't make sense that you pump it alone. It would be fair if all holders would participate. I actually made an attempt to pump it along with a few other holders, but somehow I ended up supporting at least 50% of the buy orders, while having only 20% of the coins, in our group. I tried, but did not get much help from the community.

pumping is illegal in many countries stock markets , you are not allowed to try to manipulate the price of an asset. ( personally i think it should not be illegal )
however, pumping won't work in the long term, the *value* of 1 burst stays the same, so clever investors will sell after the pump as the price seem overvalued compared to various metrics.

If we want burst to go up in price, we should finance the development of new stuff or the organization of a software development process or any number of other things that make people use and want to get hold of burst more.

[vaxman]

We need more hashpower to protect the coin ?
I've put something up for sale here before I go to ebay in a week or two;
http://burstcoin.info/market/
including plotting to your specs.
Many of those available, but I can only plot 1 or 2 a week.

If the coin has more value it would automatically increase the hashpower.

Oh, how I love these smart-asses, stating the obvious.

I'm trying to make use of the integrated market place, you wisenheimer.

And the price per TB is half that of new disks. It depends on your local energy
costs if this is a viable alternative to buying new Harddrives. If so, voila,
32 TB added to the net.

[paduser]

We need more hashpower to protect the coin ?
I've put something up for sale here before I go to ebay in a week or two;
http://burstcoin.info/market/
including plotting to your specs.
Many of those available, but I can only plot 1 or 2 a week.

If the coin has more value it would automatically increase the hashpower.

Oh, how I love these smart-asses, stating the obvious.

I'm trying to make use of the integrated market place, you wisenheimer.

And the price per TB is half that of new disks. It depends on your local energy
costs if this is a viable alternative to buying new Harddrives. If so, voila,
32 TB added to the net.

It is obvious but it's also true. Even without energy cost you need over two years to get your investment back. Correct me if I'm calculating wrong.

[crowetic]

We need more hashpower to protect the coin ?
I've put something up for sale here before I go to ebay in a week or two;
http://burstcoin.info/market/
including plotting to your specs.
Many of those available, but I can only plot 1 or 2 a week.

If the coin has more value it would automatically increase the hashpower.

Oh, how I love these smart-asses, stating the obvious.

I'm trying to make use of the integrated market place, you wisenheimer.

And the price per TB is half that of new disks. It depends on your local energy
costs if this is a viable alternative to buying new Harddrives. If so, voila,
32 TB added to the net.

Going along with use of the marketplace, I would like to reiterate that I too have posted some available hashpower for sale. Only in the form of a single 4TB Western Digital RE SAS drive, but available nonetheless.

Also, I still plan to go forward with the making of an asset with bit's mining power. He re-affirmed to me today that if we do go ahead with this, and people accept that it is something productive and give the benefit of the doubt, with of course myself backing the asset and doing the release, he will remove his 'threat' of any sort of 51% attack.






-----------------------------------------------------------------------------------


One more thing, the decision to not alter the BURST reward structure for now has been made as well, seeing as there are too many community members against the idea. Also, the moving forward with a clone coin will take place.




I find the mention of some sort of spyware being imbedded into an open source project to be a ridiculous idea, but regardless, I will say that this is not something that should be worried about at all. I will likely be a big part of the clone coin as well, and feel like the modifications that are accepted as mutually beneficial for both BURST and the clone, would be put into BURST as well, upon agreement and acceptance, and of course, however many devs as deemed necessary, reviewing the code.


If anyone has issues with these statements, I think that is silly and I don't think I will entertain it whatsoever.


In recap, the only reason you would not trust the fact that these things would not come to fruition, is if you don't trust myself, nor the developers that will review the code.

I also think that the fact dual-mining is a possibility, means it should be attempted. However, seeing as the main dev will be bitladen, people who have issue with him can simply avoid the benefit of getting dual rewards from their same plotted space.

Also, since it IS possible to make the plots incompatible, I have a feeling that the more negativity that continues here between everyone, the less likely it would be for the two coins to want to work together, which in fact would be a shame, as I feel this could make something that is already extremely revolutionary, become even more-so having the ability to not only mine 1 advanced coin, but TWO, with hardly any power, on an existing BURST mining setup, would be pretty freakin' awesome.

So...

I will ask everyone, can we become a community of people that are out for the same goal here? Even if we may not view everything exactly the same, can we at least all agree that we're in support of the technology, and would really like it all to become successful?


Lastly, I hardly think we can compare BURST (or any crypto for that matter) to gold or really any 'traditional' investment, as there are many other things in play in the crypto community that aren't in the others, so there will obviously be differences. We can speculate based on whatever we'd like, but saying that things are for sure how things will play out in a given scenario, is just silly.

The thing is, we're in a place where we've got to stay ahead, and that means having active development on not only tools and extras, but of course, the core of the tech.

Community development for BURST is what we've gotta go with at the moment, as we've not got a single person willing to stand up and take the role 'lead dev'. So people, any developer that is willing, fork the github, do some work, come tell us what your work will do, and let us get this coin's development going again!

To the future! *holds up glass*

[bitladen]

Also, I still plan to go forward with the making of an asset with bit's mining power. He re-affirmed to me today that if we do go ahead with this, and people accept that it is something productive and give the benefit of the doubt, with of course myself backing the asset and doing the release, he will remove his 'threat' of any sort of 51% attack.

It would not be fair to attack with other people's hard drives, unless of course they want to But if I sell it, it is no longer my decision to make.

The threat does exist, whatever I attack or not. There's only one cure for it: more hash. A plot compatible clone would certainly help. And definitely cannot harm.

I find the mention of some sort of spyware being imbedded into an open source project to be a ridiculous idea, but regardless, I will say that this is not something that should be worried about at all.

Ridiculous, not really. In fact is anybody certain that the source code of burst does not contain malicious code? Has anybody even checked it out? If you ask me, I haven't.  What about the miners? You could at the very least compile everything from source if you are having this concern.

Anyhow, I will not make much changes to the code, github does give you the diffs, so it will be easy enough to verify that I haven't added anything malicious.

[BurstIncomeAsset]

Burst is only inflationary in the short run. We've generated about half of the 2B burstcoins that will be the final total.  number of BURST in circulation will double from here , following the distribution plan of reducing the amount distributed per block with 5% each month.

Sure but how long would this mining phase last? 1 year, 5 years?

Until then investors don't want to see their purchasing power evaporating (due to BURST price decrease).

I agree that asset investment is a smart move, if the asset is somehow generating value. Holding burst will get you your money back down the line, but owning an asset means you will get part of the earnings of a company that has used your investment to buy income generating equipment.

Well I`m already doing this. My asset is invested in casino investment programs (not gambling) where you invest in the house bankroll and gain half of the earnings of the house distributed amongst "bankroll shareholders".

Currently we earn about  0.24224% ROI daily of the funds, which is not much but its neither a HYIP, nor a sluggish earning. It can generate over 7% ROI monthly which I think is a pretty safe and steady return.

Plus it's even better than that because the assets are always valued 5x or 10x more than the funds they got, so currently we got 0.415 BTC, and the market cap of INCOME can easily go to 4.15 BTC, relative in BURST price.

So its a double earner, once you earn from the dividends, and secondly you earn from the price increase of the asset, if you bought first.

[bitladen]

Oh, how I love these smart-asses, stating the obvious.

that's actually good progress, until now they've been trying to hide from the obvious.

I'm trying to make use of the integrated market place, you wisenheimer.

And the price per TB is half that of new disks. It depends on your local energy
costs if this is a viable alternative to buying new Harddrives. If so, voila,
32 TB added to the net.

Good work! I'd buy from you, but I prefer to remain anonymous. That's not a crime, especially considering that we are in the crypto community.

I may yet buy, cheap raids are hard to come by. But I won't be using D9G24  If I do, next thing you know, they'll call homeland security on me.

[wmikrut]

Not to pull away from the topic at hand, but I do have a real Burst Q.
I run my drives off an older Dell Power Edge Server running Windows 2003... an older version of windoze.

I have reasons to keep this on 2003 at the time -- and will at some point in the future will upgrade to a later version of Windoze server.
For now... what would be the best miner to use?

Currently I run a virtual server and use blago's miner... which works... but the virtual server is a horrendous draw on system resources.
Of course -- the newer miners require a later version of Windoze to run directly.

Should I just stick with the original Java version... or is there a better alternative?

[haitch]

Not to pull away from the topic at hand, but I do have a real Burst Q.
I run my drives off an older Dell Power Edge Server running Windows 2003... an older version of windoze.

I have reasons to keep this on 2003 at the time -- and will at some point in the future will upgrade to a later version of Windoze server.
For now... what would be the best miner to use?

Currently I run a virtual server and use blago's miner... which works... but the virtual server is a horrendous draw on system resources.
Of course -- the newer miners require a later version of Windoze to run directly.

Should I just stick with the original Java version... or is there a better alternative?

You could try Luxe's java GPU miner. https://cynin.burst-team.us:446/home/public/files/luxes-gpu-miner-for-windows

[pinballdude]

If you think this coin is a bit heatead atm and have a lot of them, right now there are 3.4 bitcoins worth of buy orders at 25 sat and above. Often it is not possible to exit so many burst wo driving price down a lot.

just fyi

i bot 600K at 26 and have no plans of selling

[riskyfire]

Increasing the block reward will NOT increase anyones earnings or profit, it will only increase inflation and Burst will be worth less per coin.

The is the same problem as with fiat currencies. Money printing does not increase value, it dilutes and reduces the purchasing power of each unit.

Does anyone have any evidence of money printing increasing a currencies value?

I don't understand why this keeps getting brought up!

We need unique features, good and services that can only be purchased using Burstcoin. This is where the value will come from.

[wmikrut]

Not to pull away from the topic at hand, but I do have a real Burst Q.
I run my drives off an older Dell Power Edge Server running Windows 2003... an older version of windoze.

I have reasons to keep this on 2003 at the time -- and will at some point in the future will upgrade to a later version of Windoze server.
For now... what would be the best miner to use?

Currently I run a virtual server and use blago's miner... which works... but the virtual server is a horrendous draw on system resources.
Of course -- the newer miners require a later version of Windoze to run directly.

Should I just stick with the original Java version... or is there a better alternative?

You could try Luxe's java GPU miner. https://cynin.burst-team.us:446/home/public/files/luxes-gpu-miner-for-windows

Unfortunately that requires java 8 and OpenCL to be implemented.
This machine is incapable of upgrading to Java 8... well, not incapable... but not recommended.

That plus my PES does not have a PCIex Backplane.
I do have a PCIEex Backplane but was planning on installing it when I upgraded to a newer windows server version.