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

[bitladen]

No need to change block reward. Just implement PoC2 which suppose to be out soon?

.. my idea.. and a block reward variable on function of value of coin and Tb used for mining ? This function will be made a little period of ROI   for everyone, big reward for little users and penalize big farms.
On this way more will be more attractive for a lot of users, so more popularity and less marketing.

I proposed exactly the same thing, block reward proportional to difficulty.

[bitladen]

A bigger block reward, increases the rate of inflation, reduces the value!

Small hash rate reduces the coin value to 0, that's why you need to get incentive to miners. Miners mining it actually increases coin value. The cost of this is inflation, of course, but the alternative is 51% attack and death. So, you can see that inflation will actually be good for holders. Better to own less than nothing.

But I really wish that some of these big holders would post here. Let's see what they have to say. Do they want to give incentive to miners or not?

[bitladen]

New updates coming and pump is inevitable ... .

Yea, last time we heard from you, there was a 25M sell wall. Thank you for entertaining us!

[Cobra]

A bigger block reward, increases the rate of inflation, reduces the value!

Small hash rate reduces the coin value to 0, that's why you need to get incentive to miners. Miners mining it actually increases coin value. The cost of this is inflation, of course, but the alternative is 51% attack and death. So, you can see that inflation will actually be good for holders. Better to own less than nothing.

But I really wish that some of these big holders would post here. Let's see what they have to say. Do they want to give incentive to miners or not?

I'm sure I would not qualify as a big holder of coins with only a few million but there is really no point of increasing incentive for miners if there is nothing you can do with the coin besides speculate on some assets.  There needs to be places to use this coin as others have mentioned above, without utility it is going nowhere.  It is frustrating to hear there is no progress on a Poc2 solution as other competing solutions like SIA coin, maidsafe, storj will soon make Burst a thing of the past if it cannot get beyond this hurdle on making use of the hard drive space.

 Some type of recurring revenue stream is needed to fund marketing efforts.

[bitladen]

I'm sure I would not qualify as a big holder of coins with only a few million but there is really no point of increasing incentive for miners if there is nothing you can do with the coin besides speculate on some assets.  There needs to be places to use this coin as others have mentioned above, without utility it is going nowhere.  It is frustrating to hear there is no progress on a Poc2 solution as other competing solutions like SIA coin, maidsafe, storj will soon make Burst a thing of the past if it cannot get beyond this hurdle on making use of the hard drive space.

 Some type of recurring revenue stream is needed to fund marketing efforts.

POC2 improves absolutely nothing, what's the big hype all about?

You're right, there's no use for burst. It's pure pump and dump.
I did start a bounty for a coin mixer in BURST, that would make it useful.

When it maidsafe coming out? It sure looks promising.

As for actually using BURST... as a coin, instead of bitcoin. Even litecoin doesn't really do that, let's be serious here. Still a mixer would give it some legitimate usage, a marketplace also would. A drug marketplace and a coin mixer, would be just perfect.

Now is anybody going to finance these projects? I put down 1M, I can top it up, but at the moment I'm the top contributor. Coding costs money you know. Y'all just wanna baghold while somebody codes something for you for free. Nice plan. Good luck.

Seriously throw some coins in, if you wanna see something happen. Burst already has support for crowdfunding. Use that, quit bagholding.

[FakeAccount]

bin laden, there's no interest in your proposals and the coin should not change from what was published and released.
besides, large holder you are not.  you dump it.  a large miner you are (if you are infact who controls binladen burst address).  so be honest about your nature and don't pretend; don't patronize others, or talk down to people. 

furthermore, nothing nor anyone is stopping you from taking the codebase modifying it to your desire and starting your own version. 
but you really don't want to do that, do you?  you want all the benefits of having all of the existing miners as long as they just do what you want.

you are not here for the long term and I will wait you out.

instead, you could concentrate on spreading the word and getting more people involved.

For ex. since you were badgering some devs about their miners, why don't you go and attend the upcoming hackaton hosted at UBS Level 39 Crypto Lab.  NXT blockchain 2.0 API will be used, which can be used with burst blockchain too.  Why don't you show your coding prowess and do something good for Burst?

What's that? you won't do that either, will you... ?  you are a wankster

if you went away in the next moment, no one would care or notice your departure.  that's the truth of your essence.

[Cobra]

As for actually using BURST... as a coin, instead of bitcoin. Even litecoin doesn't really do that, let's be serious here. Still a mixer would give it some legitimate usage, a marketplace also would. A drug marketplace and a coin mixer, would be just perfect.

Now is anybody going to finance these projects? I put down 1M, I can top it up, but at the moment I'm the top contributor. Coding costs money you know. Y'all just wanna baghold while somebody codes something for you for free. Nice plan. Good luck.

Seriously throw some coins in, if you wanna see something happen. Burst already has support for crowdfunding. Use that, quit bagholding.

Other coins have mixing services, why would people want to come to Burst just to use that when they can already get that service elsewhere, as well as more refined marketplaces. I do not want to invest in this but do not have any other ideas either to bring Burst up out of the ashes. The only thing I like is the efficient and unique mining which does make it cost effective on a smaller scale at least. It has been fun to watch the tools/pools evolve for the better over time and they certainly have come a long way.

I have enjoyed Burst from the very beginning and had fun along the way. I will probably gradually dump a portion of coins and invest in other storage based coins that look to have a brighter future ahead versus invest in something here for someone like you to just dump away the majority of their coins (you invest 1M, have 12M to dump) no thanks. Until other storage based solutions become popular I will likely continue mining for a while for fun.

Good luck all.

[bitladen]

Other coins have mixing services, why would people want to come to Burst just to use that when they can already get that service elsewhere, as well as more refined marketplaces.

which coins would those be?

in something here for someone like you to just dump away the majority of their coins (you invest 1M, have 12M to dump) no thanks.

1st off: YOU'RE AN IDIOT
therefore not a coder.
therefore 1M is not for you, so don't thank me.

How much do you invest? Did you invest more than 1M. As I can see you want to invest nothing, let others do the work.
What about the bagholders, why don't they invest some burst. They have a shitload of it.

if you went away in the next moment, no one would care or notice your departure.  that's the truth of your essence.

I stay. You will go when I get 51%. How about that?
Nobody will notice, don't worry about it.
And how about you throw in some burst for development? like I do.
asshole!

[bitladen]

More info about current development and plans would be nice!

But, the block-reward reduce is well designed ... and should not be changed in any way ... the ones who dump now, would just dump more, that makes no sense.
About the price ... i dont fear low prices, let big mines with rented servers dump to pay their bills ... means cheep coins for all who want some more shares :-)
The price will grow with coin development progress and new investors, not cause of higher block rewards ...

that's quite a theory you got there. did you look at the market, before you wrote this?
nobody is dumping! that's exactly the problem. more dumps would actually be good, it would bring volume.

even I hold. don't worry about my bills.
everybody holds because of the idiotic block reward structure. and by the time everybody decides to dump, there will be no market to dump it on. so go figure.
and if you want features to be added in burst, why don't you donate some coins for development?

but know this, if miners form an alliance with me, we could take burst down right now with a 51% attack.
even if they don't I can get 51% myself.

burst has no future unless the miners get paid.
end of story.

[pinballdude]

Changing the block reward would be unfair to anyone who made decisions based on the stated supply and distribution schedule. Nothing is perfectly distributed, but I don't really see it being that bad. Excluding the stuff we can't tell apart sitting in exchanges, the next highest address has a little over 2%. I don't see adding more coins which will probably just end up flooding the market being a solution for anything. Theres a lot of things I would have done differently in retrospect but I don't think block reward is one of them.

And coin dying would be more fair? Where are these people you talk about? Let's talk to them see what they think.

I think increasing rewards is better than coin dying completely. I'm not making a threat here. Coin is dying right now, and I haven't got anything to do with this. I still have 16m burst or so, I actually kept most of the coin.

Let's talk to these holders, I hereby invite them to post something on this thread

I think that changing the basic rules of the coin is very bad, everybody bought into this given the original settings, and they (at least I) trust that the coin was NOT like some government run fiat currency where they change the rules on you all the time.


I suggest you make a copy of BURST and set the settings differently, then the best one will win out in the end, or they will both thrive, serving different needs.

[Turn0ff]

but know this, if miners form an alliance with me, we could take burst down right now with a 51% attack.
even if they don't I can get 51% myself.

Aah, that will bring some needed attention! 

[bobafett]

a clone of the coin will be the best proof, which strategy will be the best,if the clone will be listet at some exchanges....

[xizmax]

it is interesting to see that a 'dying' coin gets so much attention

That being said the invitation to join our slack still stands. I see some supporters of the whole slack idea here who still have not joined

[Turn0ff]

it is interesting to see that a 'dying' coin gets so much attention

That being said the invitation to join our slack still stands. I see some supporters of the whole slack idea here who still have not joined

My Slack idea was not the one implemented, but I of course wish that it develops into something great (and that I get some more time in the future to join).

[xizmax]

it is interesting to see that a 'dying' coin gets so much attention

That being said the invitation to join our slack still stands. I see some supporters of the whole slack idea here who still have not joined

My Slack idea was not the one implemented, but I of course wish that it develops into something great (and that I get some more time in the future to join).

If my memory serves me right

Why not have a "public" slack channel for Burst, where supporters can chat, exchange ideas, get feedback on their ideas and work for Burst, find collaborators - without being part of the dev-teams?

We provided such a slack. Hopefully, you do get the chance to join. As I repeat over and over again, we do read and listen to suggestions.

[callmejack]

More info about current development and plans would be nice!

But, the block-reward reduce is well designed ... and should not be changed in any way ... the ones who dump now, would just dump more, that makes no sense.
About the price ... i dont fear low prices, let big mines with rented servers dump to pay their bills ... means cheep coins for all who want some more shares :-)
The price will grow with coin development progress and new investors, not cause of higher block rewards ...

that's quite a theory you got there. did you look at the market, before you wrote this?
nobody is dumping! that's exactly the problem. more dumps would actually be good, it would bring volume.

even I hold. don't worry about my bills.
everybody holds because of the idiotic block reward structure. and by the time everybody decides to dump, there will be no market to dump it on. so go figure.
and if you want features to be added in burst, why don't you donate some coins for development?

but know this, if miners form an alliance with me, we could take burst down right now with a 51% attack.
even if they don't I can get 51% myself.

burst has no future unless the miners get paid.
end of story.

i could speak to some people, of which i know they have a couple of pb ideling, to join your 51% attack idea if a 51% attack would be possible.
since we do not confirm any transactions when we are mining a block we could only decide to not mine a block which results as attack in only a increased blocktime if triggered correctly.

as i wrote many pages earlier as the discussion was about filestorage i came to the conclusion that we require to have unique services payed for in burst.
these can be either on chain or off chain.
a good point to start with may be a secure encrypted chat system as mobile app.
we could use the wallet peers as relays and distribute all chat messages as a new tx type which is only stored in the blockchain for the last 3 blocks.
the mobile app could connect to a online wallet and receive as push service messages. this service would be payed for in burst.
in the second step the peers themselve would be able to earn burst by the previously mentioned token system.
the main difference to today would be that the peers would also invest bandwidth if they are configured to relay the new tx type.

another idea to create a service may be to adopt the poc algorythm to be able to host rainbow tables for a cryptographic hash function.
if someone wants to do a lookup for the plaintext word of a hash he would send burst to the "blockchain" and the lookup is injected into the next mined block as result. if the lookup failed the payed burst get returned. if nobody currently pays for a lookup query the plots would be used to mine regular, maybe as sort of pseudo payed lookup initiated by the blockchain.
to cover any 64 bit long plaintext a capacity of at least 32pb is required.
the most challenging part is to somewhere keep track which plots are still active and which need to be replotted.

[bitladen]

i could speak to some people, of which i know they have a couple of pb ideling, to join your 51% attack idea if a 51% attack would be possible.
since we do not confirm any transactions when we are mining a block we could only decide to not mine a block which results as attack in only a increased blocktime if triggered correctly.

that would be great.
besides 51% is right here, burst already has miners, we just need to form an alliance.
heck, we can make an 100% alliance

now the bagholders, claim is not fair. who said anything about fair anyway? we the miners have to take what's ours. you can think of this in terms of a strike.

I have to assume that all miners want some sort of reward increase at this point.
So please, miners, contact me!  Let's organize this strike.  Bagholders have to pay us, or else their funds will be permanently locked. From a miner's point of view, this is most certainly fair, hashpower costs money. And any miner alliance, that has over 51% of the hashpower, rules this coin. Even if this upsets the bagholders, they have no say in this.  It's just like that.

So, I got 17% here, we need 33% more.

Anyone who's not with me is against me. If the 51% is formed, all the others will be orphaned by us. More money for us.

But then again, why would a miner be against me? Maybe because he's also a bagholder. Fuck bagholders. They killed this coin

[pinballdude]

i could speak to some people, of which i know they have a couple of pb ideling, to join your 51% attack idea if a 51% attack would be possible.
since we do not confirm any transactions when we are mining a block we could only decide to not mine a block which results as attack in only a increased blocktime if triggered correctly.

that would be great.
besides 51% is right here, burst already has miners, we just need to form an alliance.
heck, we can make an 100% alliance

now the bagholders, claim is not fair. who said anything about fair anyway? we the miners have to take what's ours. you can think of this in terms of a strike.

I have to assume that all miners want some sort of reward increase at this point.
So please, miners, contact me!  Let's organize this strike.  Bagholders have to pay us, or else their funds will be permanently locked. From a miner's point of view, this is most certainly fair, hashpower costs money. And any miner alliance, that has over 51% of the hashpower, rules this coin. Even if this upsets the bagholders, they have no say in this.  It's just like that.

So, I got 17% here, we need 33% more.

Anyone who's not with me is against me. If the 51% is formed, all the others will be orphaned by us. More money for us.

But then again, why would a miner be against me? Maybe because he's also a bagholder. Fuck bagholders. They killed this coin

I think you need a lot more than 51% diskspace before you successfully can do anything - and you would need to keep that capacity for a long period of time.

Anyway, should you succeed, burst would probably just be released in a new version that discards your fork, and that version would be the old burst witout the attackers.   The attackers can then release another version, and keep their fork going with that. Basically BURST would've split into two, and miners and users would have to choose what to mine and use.

I was awarded quite well when we were only 1/3rd of the number of miners we are now, i am not afraid of the mining power adjusting down to what is needed or warranted. When the distribution is over, the mining power needed to keep the chain safe might be lower than it is now. We can always add terabytes if we see someone threathening the coin.

Also remember you have to plot. Nobody can just add tons of terabytes out of the blue - it takes quite some time and cpu power to plot.

Last but not least, if we give more coins to the miners right now, we will have to give less coins later on, so your plan is just kicking the can down the road, postponing a percieved problem.

I urge you to fork burst and run your own, that would be a lot more friendly than trying to take over and make changes to inflation rate and number of coins outstanding. Not that it will work.  Any successfull attempt at changing things, will result in some or many people continuing with the original coin.

[bitladen]

I think you need a lot more than 51% diskspace before you successfully can do anything - and you would need to keep that capacity for a long period of time.

Anyway, should you succeed, burst would probably just be released in a new version that discards your fork, and that version would be the old burst witout the attackers.   The attackers can then release another version, and keep their fork going with that. Basically BURST would've split into two, and miners and users would have to choose what to mine and use.

LOL, what stops me from forking your new chain then? And with mining compromised, how do you determine which chain is the right chain?  Frankly, you have no idea of what you're talking about. Cryptocoins heavily depend on mining, there's no going around it.

Last but not least, if we give more coins to the miners right now, we will have to give less coins later on, so your plan is just kicking the can down the road, postponing a percieved problem.

I never said give less in the future. Perhaps give even more in the future.
This is the bagholders credo: reduce rewards.
Somehow nobody ever shows them what happens when you do this. But I can, and I probably will. Why should they make money, on my mining power without paying the mining bill? Doesn't make any sense. Why should I make less so that they can make more? What merit do they have, why do I need them.
I don't need them at all. It's only they who need the miners.

I urge you to fork burst and run your own, that would be a lot more friendly than trying to take over and make changes to inflation rate and number of coins outstanding. Not that it will work.  Any successfull attempt at changing things, will result in some or many people continuing with the original coin.

Now, I don't have to be friendly, I got the power. Friendly people are friendly because they have to. I don't have to.

[riskyfire]

So, I got 17% here, we need 33% more.

Anyone who's not with me is against me. If the 51% is formed, all the others will be orphaned by us. More money for us.

But then again, why would a miner be against me? Maybe because he's also a bagholder. Fuck bagholders. They killed this coin

I'll just state right now that I'm 100% against you.

Bitladen is a Greedy Bastard, plain and simple!

He has some how manage to amass a fairly large amount of hardware but he doesn't give a shit about the coin or the project. He has dumped everything he has ever mined, check his wallet balances. It's all on the exchanges.

No person in their right mind should partner with this guy. He's trying to screw all of us even though we're all miners just like him.
Do not partner with this guy, if he is openly willing to screw us he will do the same to you.

I will personally be investing in more hardware to ensure he cannot take over.