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

[mczarnek]

You know what I'd do of I had invested a bunch into Ether pre-sale and was malicious?  Buy some burest slowly and dump just before Ether came out.. plus I suspect people had hoped ATs would make Ether a non-issue. But looks like we'll all have to compete with them.. which I could see weighing on investors minds.

The other reason I suspect price declined?  Looks like some one decided to invest very heavily and I suspect did it slowly, hit his limit, and stopped buying.

[GenTarkin]

This coin is dead... was nice while it lasted, RIP POC
ya'll can stop mining so I can mine some for myself =P

[crowetic]

This coin is dead... was nice while it lasted, RIP POC
ya'll can stop mining so I can mine some for myself =P

Yes yes, BURST is dead. Everyone stop mining. lol...

*facepalm*


BURST is anything but dead people. This is a fantastic time to spend any extra BTC you can and BUY IT ALL UP!

[callmejack]

it's very concerning that withdrawals are not working from polo for a VERY LONG time now...
I wonder why and is it related to the incredible price drop???

Hmmm, I'm waiting more than 24 hours for deposit also... Poloniex has problem with his BURST wallet I suppose.

it's been more than a few days now on polo with issues. something isn't right. there's a problem they're hiding.
they keep saying, we're still having issues and NO ETA
this really looks like polo is hiding a serious problem.

At least we can be pretty sure their Burst hasn't been hacked: http://burstcoin.eu/charts/addresses-by-balance

I suspect has more to do with rollout of new features and they are overwhelmed with request by people not understanding new features.

if they lost the private keys during server migrations we now have two burn addresses  

[GenTarkin]

This coin is dead... was nice while it lasted, RIP POC
ya'll can stop mining so I can mine some for myself =P

Yes yes, BURST is dead. Everyone stop mining. lol...

*facepalm*


BURST is anything but dead people. This is a fantastic time to spend any extra BTC you can and BUY IT ALL UP!

Why buy it up?!?!?! oh, just so you can dump more...
Classic pump n dump tactics... good one!

[luxe]

Polo withdraw working again ...

[ltcnim]

Polo withdraw working again ...

confirmed, just got my coins

[bitladen]

Just a FYI I deposited some Burst at Poloniex and I haven't had it credited in my account. I contacted them and they said they'd 'look into it', but that was yesterday. Be forwarned.

And no Poloniex has nothing to do with the dump. That was a classic pump and dump, now the coin was lower then where it began with. Probably has something to do with Bitladen 'generating more volume so people see it and buy' strategy. -_-

One thing I don't have is a big amount of coins.
Don't point at me when this happens. 95% of the coin is held by a few people. And I'm not one of them.

What about the AT mixer. Nobody wants the bounty?

[vaxman]

Just a FYI I deposited some Burst at Poloniex and I haven't had it credited in my account. I contacted them and they said they'd 'look into it', but that was yesterday. Be forwarned.

And no Poloniex has nothing to do with the dump. That was a classic pump and dump, now the coin was lower then where it began with. Probably has something to do with Bitladen 'generating more volume so people see it and buy' strategy. -_-

Bitladen?
I am a little bit puzzled about that!
Just for split of a second think, that Bitladen would not mine at all. How LESS Burst would then have been created so far?
When you figured out the answer, then you will understand my point!

@Elmit, bensam quoted bitladen's call for "generat[e|ing] more volume ON THE EXCHANGES".


@Bitladen, have you beefed up your rig ?
For weeks you had 800-900TB online (extrapolated from the yield of my 380TB rig), and then starting around May 5th it looks more like 1.5 PB. It could also mean you fixed some i/o, cpu or other bottleneck while maintaining the storage footprint. I'd be interested to hear details about that.

One good thing I'd like to read from that is: you burden the operating expense because you believe in the future of this coin.
I'm in the same boat. I have to, as my opex (5 W/TB @ 0.35 USD/kWh) is very high and wouldn't be covered by the mining yield today - if I sold today. All will be good in year or two.

Albeit..you hog some 23% of the network within the last 24 hours. In the 8 blocks from 100919 to 100926 you got 7 of 8, 5 in row. I hope you don't plan on increasing your footprint even more.

[bitladen]

Just a FYI I deposited some Burst at Poloniex and I haven't had it credited in my account. I contacted them and they said they'd 'look into it', but that was yesterday. Be forwarned.

And no Poloniex has nothing to do with the dump. That was a classic pump and dump, now the coin was lower then where it began with. Probably has something to do with Bitladen 'generating more volume so people see it and buy' strategy. -_-

Bitladen?
I am a little bit puzzled about that!
Just for split of a second think, that Bitladen would not mine at all. How LESS Burst would then have been created so far?
When you figured out the answer, then you will understand my point!

@Elmit, bensam quoted bitladen's call for "generat[e|ing] more volume ON THE EXCHANGES".


@Bitladen, have you beefed up your rig ?
For weeks you had 800-900TB online (extrapolated from the yield of my 380TB rig), and then starting around May 5th it looks more like 1.5 PB. It could also mean you fixed some i/o, cpu or other bottleneck while maintaining the storage footprint. I'd be interested to hear details about that.

One good thing I'd like to read from that is: you burden the operating expense because you believe in the future of this coin.
I'm in the same boat. I have to, as my opex (5 W/TB @ 0.35 USD/kWh) is very high and wouldn't be covered by the mining yield today - if I sold today. All will be good in year or two.

I just acquired more capacity.
Anyhow, there's clearly need for a new PoC coin.
PoC is not dead, it's good, it's just that the coin has deflated too fast and now most coins are held by a few who first mined it. That's why nobody would risk buying it.
It's not really worth mining it, but if there was another PoC option, the coin price would select where the miners go.

I did start a bounty to bring a coin mixer feature to burst. This might just increase the interest in the coin.
Anyhow, when I get the time, I will make a new PoC coin, so us miners don't have to put up with this situation forever.

[callmejack]

Just a FYI I deposited some Burst at Poloniex and I haven't had it credited in my account. I contacted them and they said they'd 'look into it', but that was yesterday. Be forwarned.

And no Poloniex has nothing to do with the dump. That was a classic pump and dump, now the coin was lower then where it began with. Probably has something to do with Bitladen 'generating more volume so people see it and buy' strategy. -_-

Bitladen?
I am a little bit puzzled about that!
Just for split of a second think, that Bitladen would not mine at all. How LESS Burst would then have been created so far?
When you figured out the answer, then you will understand my point!

@Elmit, bensam quoted bitladen's call for "generat[e|ing] more volume ON THE EXCHANGES".


@Bitladen, have you beefed up your rig ?
For weeks you had 800-900TB online (extrapolated from the yield of my 380TB rig), and then starting around May 5th it looks more like 1.5 PB. It could also mean you fixed some i/o, cpu or other bottleneck while maintaining the storage footprint. I'd be interested to hear details about that.

One good thing I'd like to read from that is: you burden the operating expense because you believe in the future of this coin.
I'm in the same boat. I have to, as my opex (5 W/TB @ 0.35 USD/kWh) is very high and wouldn't be covered by the mining yield today - if I sold today. All will be good in year or two.

I just acquired more capacity.
Anyhow, there's clearly need for a new PoC coin.
PoC is not dead, it's good, it's just that the coin has deflated too fast and now most coins are held by a few who first mined it. That's why nobody would risk buying it.
It's not really worth mining it, but if there was another PoC option, the coin price would select where the miners go.

I did start a bounty to bring a coin mixer feature to burst. This might just increase the interest in the coin.
Anyhow, when I get the time, I will make a new PoC coin, so us miners don't have to put up with this situation forever.

i am not sure if only having a secure coinmixer in place increases the value much.
the coinmixer must be combined with a decentralized exchange.
maybe based on some qora decentralized websites.

the good thing about having centralized exchanges is that we can simply see that burst coins left polo to somewhere else.
almost 10% left the polo wallet during the last couple of days.

if someone uses my mysql db and wants to monitor a balance this query does it (only the address has to be adjusted):

mysql> SELECT count1-count2 AS total FROM (   SELECT COALESCE((select sum((tx.amountNQT/100000000)) from tx where tx.recipientRS='BURST-R8SQ-TUEM-DTHQ-7ATA3' )) AS count1,                  COALESCE((select sum((tx.amountNQT/100000000)+feeNQT/100000000) from tx where tx.senderRS='BURST-R8SQ-TUEM-DTHQ-7ATA3' )) AS count2        FROM tx ) t limit 1;
+---------------+
| total         |
+---------------+
| 81172782.7850 |
+---------------+
1 row in set (0.00 sec)

 

[mczarnek]

Just a FYI I deposited some Burst at Poloniex and I haven't had it credited in my account. I contacted them and they said they'd 'look into it', but that was yesterday. Be forwarned.

And no Poloniex has nothing to do with the dump. That was a classic pump and dump, now the coin was lower then where it began with. Probably has something to do with Bitladen 'generating more volume so people see it and buy' strategy. -_-

Bitladen?
I am a little bit puzzled about that!
Just for split of a second think, that Bitladen would not mine at all. How LESS Burst would then have been created so far?
When you figured out the answer, then you will understand my point!

@Elmit, bensam quoted bitladen's call for "generat[e|ing] more volume ON THE EXCHANGES".


@Bitladen, have you beefed up your rig ?
For weeks you had 800-900TB online (extrapolated from the yield of my 380TB rig), and then starting around May 5th it looks more like 1.5 PB. It could also mean you fixed some i/o, cpu or other bottleneck while maintaining the storage footprint. I'd be interested to hear details about that.

One good thing I'd like to read from that is: you burden the operating expense because you believe in the future of this coin.
I'm in the same boat. I have to, as my opex (5 W/TB @ 0.35 USD/kWh) is very high and wouldn't be covered by the mining yield today - if I sold today. All will be good in year or two.

I just acquired more capacity.
Anyhow, there's clearly need for a new PoC coin.
PoC is not dead, it's good, it's just that the coin has deflated too fast and now most coins are held by a few who first mined it. That's why nobody would risk buying it.
It's not really worth mining it, but if there was another PoC option, the coin price would select where the miners go.

I did start a bounty to bring a coin mixer feature to burst. This might just increase the interest in the coin.
Anyhow, when I get the time, I will make a new PoC coin, so us miners don't have to put up with this situation forever.

Look at every one of the top ten or so coins.. know what they have in common?  They have at least one, usually a few very large holders who have a lot of incentive to grow the coin and make sure it succeeds.. they also don't always start out as a top ten coin and have some ups and downs.

[bitladen]

Look at every one of the top ten or so coins.. know what they have in common?  They have at least one, usually a few very large holders who have a lot of incentive to grow the coin and make sure it succeeds.. they also don't always start out as a top ten coin and have some ups and downs.

I certainly doubt it. Except the DRK scam. And very large is it like 90% large or more like 30% large? And are these holders first miners or are they investors? If they paid something for it I guess it's ok, they certainly have the motivation to make the coin rise. With burst, nobody ever sold the coin. Not even me I must have sold like 5m only.
Having large bagholders just doesn't appeal to investors. You turned this coin into premine.
How many of the top 10 coins halved the block reward within an year?  With burst, it's almost half now, and it's not even been an year.
The only incentive for mining this coin is the lack of other PoC coin. But I will fix that!

[mczarnek]

Look at every one of the top ten or so coins.. know what they have in common?  They have at least one, usually a few very large holders who have a lot of incentive to grow the coin and make sure it succeeds.. they also don't always start out as a top ten coin and have some ups and downs.

I certainly doubt it. Except the DRK scam. And very large is it like 90% large or more like 30% large? And are these holders first miners or are they investors? If they paid something for it I guess it's ok, they certainly have the motivation to make the coin rise. With burst, nobody ever sold the coin. Not even me I must have sold like 5m only.
Having large bagholders just doesn't appeal to investors. You turned this coin into premine.
How many of the top 10 coins halved the block reward within an year?  With burst, it's almost half now, and it's not even been an year.
The only incentive for mining this coin is the lack of other PoC coin. But I will fix that!

Bitcoin - Satoshi owns 7+% or there about.. been a whole since I did calculation. Gavin and team own single soffit percentages.
Ripple - 80% owned by Type lands or whatever it is
Litecoin - someone bought 20% while small,  inflation has brought that to 5%.
Dash - 4% holder, 2.5% holder,  couple of 1%ers
Dogecoin - someone owns 14%
Stellar - 96 % held by 'foundation'
Nxt - bunch of people started out holding on to 5+% of the coin
Bitshares- someone owns 9% bunch of other large holders
etc.

Why do large holders scare people? They clearly believe the coin is undervalued and want it's value to rise more than others.

[bitladen]

Bitcoin - Satoshi owns 7+% or there about.. been a whole since I did calculation. Gavin and team own single soffit percentages.
Ripple - 80% owned by Type lands or whatever it is
Litecoin - someone bought 20% while small,  inflation has brought that to 5%.
Dash - 4% holder, 2.5% holder,  couple of 1%ers
Dogecoin - someone owns 14%
Stellar - 96 % held by 'foundation'
Nxt - bunch of people started out holding on to 5+% of the coin
Bitshares- someone owns 9% bunch of other large holders
etc.

Why do large holders scare people? They clearly believe the coin is undervalued and want it's value to rise more than others.

Ok so ripple was orignially closed source, everybody knew what they were getting into.  But unlike BURST, it wasn't a nxt clone, so it did bring a new and innovative platform to the market. Thus the developer's efforts might have justified 80% of holdings. Though risky still ...
Stellar is the ripple clone. Or shall we say netsplit? Or am I mistaken.  Big lols to ripple

<10% is not big holder.

Burst being a nxt clone, had more than 80% of the coins mined by the original team before it became popular. It's deflating fast, so inflation won't fix the problem.

I would be scared to buy it. The 80% can dump 4x more than I could possibly buy at anytime, bringing me a big loss. Duh!
Looks like the traders are also scared. Just a few whales buying it. Lol...

So I will make a burst clone at first, just a quick and dirty fix. Block reward will be proportional to difficulty, therefore the burst situation will not occur, until the hashrate is stabilized the coin will inflate exponentially. So no sort of premine will be possible.

Then a cryptonote with PoC will follow, when I have the time.

Even if unsuccessful, perhaps other people will clone my code and there will be competition on the PoC market.  Then miners will no longer mine burst. Without miners, you will be open to 51% attack, burst will not be a serious coin at all, price will keep dropping.

You could still compete by increasing the block reward. Make it like 30k, that's what makes sense, to give everybody a fair chance to mine it. It is very important that you have miners, without miners the coin is dead.
Just get it out of your system, you are not becoming millionaires... look how the price is dropping. PR won't fix it. Big block rewards would. You will lose some of your % of the total coins, but you will not lose all. Keep it this way, it's surely going to die and you lose all.

I, being a small holder, I committed 1M to the development of a coin mixer in burst. It would be a very useful feature, if it can be done. It's the cryptoworld, nobody here likes banks, or to be tracked by the government. Maybe the traders wouldn't mind it, but you don't even want to let them in. You keep holding the coins. At least add to my bounty, make it like 50M, you're the big holders, you can afford it. Everybody loves anonymity, look what DRK did just by promising it. They never made a reliable implementation, but traders bought the story, and bought in before it was done, without questioning it, and now it's a valuable coin (by scamming the traders). If DRK is such a model for you, at least promise anonymity. LOL!

Bottom line: Nobody is going to give you millions of dollars for making a nxt clone, putting up some websites, and PR (whatever that means).

[q327K091]

what are you talking about lol I was one of the original miners when difficulty was like if I remember correctly 3,000 , everyone had a chance and still does, take a look at the distribution curve

now it is true that block reward is will be dropping (progressively) so people should hurry up for sure

also maintaining software and network like BURST ain't easy brotha' however please do try it, including adding ACCT which btw if you do you will do us a favor as we can "exchange" coins without exchanges believe next greatest thing to occur in crypto

otherwise take a chill pill

everyone is professor of crypto these days

in fact I am taking above line and putting it into my signature lol

[mczarnek]

Burst is not an Nxt clone, it's an Nxt fork.

But Proof of Capacity is Burst's big deal.  POC is a really big deal.  But most people don't realize it.  Automated transactions are also a huge deal.

I will agree that I wish the block reward didn't pay out quite as fast.. but look at Darkcoin and it's accidental instamine.  They are still doing great.

I think most people would look at your coin as the clone, that being said, if you use the same POC algo, miners could mine for both simultaneously.. might even increase the number of Burst miners.

But if you don't believe in Burst.. please sell your coins to those who do.  Personally the only time I'd sell coins was if I thought we were in a bubble and I can buy more later.. I really think that Burst's POC is the best mining algo out there and most people really have a clue why, they see it as a novelty or a toy.  In their minds, why go POC when you have POS?

And look at the price relative to BTC, not marketcap.. I'm fully convinced this is just a normal up and down and Burst just hasn't convinced the masses yet.  Give us about a month or two, we're finally getting some marketing stuff figured out, and I think we'll be over 200 satoshis.. probably much higher.

And keep in mind that the miners aren't the ones who make a coin take off.. it's the buyers.

[q327K091]

professor of crypto says (that is me) that if you are just in it for the money you shall loose, nice thing about BURST (and QORA actually sparked my interest albeit late because of its integration with BURST) is that people continuously work on the codebase  and set future standards, actually many people here said they are in it for fun as well! which I find great that this is the case.

professor of crypto says that he is sorry that some of you can not pack huge profits in couple of months time

[mczarnek]

professor of crypto says (that is me) that if you are just in it for the money you shall loose, nice thing about BURST (and QORA actually sparked my interest albeit late because of its integration with BURST) is that people continuously work on the codebase  and set future standards, actually many people here said they are in it for fun as well! which I find great that this is the case.

professor of crypto says that he is sorry that some of you can not pack huge profits in couple of months time

Good point.. it's not just about the money.  We're making what could very likely be one of the biggest products of the future.  It's pretty exciting to work on.  Hopefully most of the crypto people are not solely evaluating a coin based on how it looks on coinmarketcap.com.

But frankly it doesn't look all that bad on coinmarketcap either..  keep in mind that a large chunk of the marketcap going down is because BTC went down in price.

[bitladen]

what are you talking about lol I was one of the original miners when difficulty was like if I remember correctly 3,000 , everyone had a chance and still does, take a look at the distribution curve

now it is true that block reward is will be dropping (progressively) so people should hurry up for sure

also maintaining software and network like BURST ain't easy brotha' however please do try it, including adding ACCT which btw if you do you will do us a favor as we can "exchange" coins without exchanges believe next greatest thing to occur in crypto

otherwise take a chill pill

everyone is professor of crypto these days

in fact I am taking above line and putting it into my signature lol

have a chance at what, put tons of money into mining worthless coins? and keeps going down

i'll make the burst clone, including acct or whatever is in there, just change a few constants here and there, test it out and I'll put it on github.
so it will be fair to mine and trade. burst isn't. results on the market show it.
and if you bother read my initial posts, I anticipated this 2 months ago. or was it 3. haha. In fact, it's going worse than I've anticipated