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

[mczarnek]

So bitladen got me thinking about block rewards.

It might not be a good idea to touch them at all but what if we simply stretched out the block rewards, so basically we half them but they are printed in a way to get to a similar final supply.  We are currently printing about 2,1000,000 Burst per day ~ $300, which coincidentally is a large part of the daily volume of Burst.  So if we were to cut it back, then miners would stop dumping as much, the price of Burst in general would go up.. and they would still be making more than half as much but have a longer period of time during which it is profitable to mine and inflation goes down so investors should be more willing to jump on board.

Agreed?

Miners stop mining - coin dies.

Whoops!! Mistyped that.. I don't think miners would stop mining.. I meant stop dumping as much.  Corrected in the versions I could change.

I mean let's face it, they have the equipment set-up already, it's quite cheap to mine, and there still is the same amount of money to be made in the long run.. and given that investors would see the price increase that would almost be bound to occur short term.. they'd probably rush in, we'd see a bubble and network strenthen would actually increase.

Theoretically anyway.

[vytasz7]

I think a name change is in order still. It had some support a few pages back. What do you all think?

I like these names:
Drive
Space

Leaning toward space... "How much space do you have?"
"I have 12 space coins"
Much more to the moon, and the name actually reflects the product because it requires hard drive space.

I love the name burst, the only issue with it that i have is the fact that it starts with a B...like bitcoin.

TBH i don't like either of those names.....not for an actual unit of currency. Also, at the end of the day, a name change is just an excuse for a pump...

i like burst name as well ,no need to change it .  i think most of community will not support any name change doesnt matter if its drive ,space  or spice girls

[vytasz7]

if computer can be called APPLE i dont see any problem to call a coin BURST

[callmejack]

if computer can be called APPLE i dont see any problem to call a coin BURST

if you compare it like that it takes at least 20 years before burst skyrockets 

[vytasz7]

if computer can be called APPLE i dont see any problem to call a coin BURST

if you compare it like that it takes at least 20 years before burst skyrockets  

i just dont believe that name change could make it skyrocket, if it do we can change the name every week until burst reach apple marketcap 

[Irontiga]

if computer can be called APPLE i dont see any problem to call a coin BURST

if you compare it like that it takes at least 20 years before burst skyrockets  

If burst get's an image like apple then no problem. Oops, not possible, Burst doesn't hate it's dev. But still, if having burst becomes like having an iphone, sweet as!!!

Oh, and apple is a gay name for a computer, so don't compare it like that ;P

[vaxman]

So bitladen got me thinking about block rewards.

It might not be a good idea to touch them at all but what if we simply stretched out the block rewards, so basically we half them but they are printed in a way to get to a similar final supply.  We are currently printing about 2,1000,000 Burst per day ~ $300, which coincidentally is a large part of the daily volume of Burst.  So if we were to cut it back, then miners would stop dumping as much, the price of Burst in general would go up.. and they would still be making more than half as much but have a longer period of time during which it is profitable to mine and inflation goes down so investors should be more willing to jump on board.

Agreed?

Ahem - no.

There are 888 Million coins out here today, much of it parked in exchanges - and the daily traded volume is a few hundred dollars.
There is no demand. I have seen no arguments explaining why THAT would change if we alter the daily supply.

[riskyfire]

Hi,

People acquire a currency based on its utility, when I go to Spain I have to exchange my British Pounds for Euros so that I
can spend them in the local stores buying various goods and services. Take note:- I have to acquire euros to access the
products & services of the serviced zone.

Right now people have no reason to swap either fiat or other crypto currencys for burst. Only the other way around.
This is simply because burst does not have any very much economical use and as I said before we need something really
good that people can spend their burst on.

What product or service can we build that requires payment in burst?

Share you ideas, I'll even spend great deal of my burstcoin funding such a good idea.

We need to encourage people to acquire burst so that they can then access a useful product or service.

[laurelled]

Here's my take on how to make this coin more attractive.

1) No need to change the name.  The only problem with "burst" is that it's a commonly used word. Using "burstcoin" instead of "burst" makes every mention searchable and discoverable. 

2) This coin needs a white paper. A prestigious, high quality, peer-reviewed white paper, focusing on Proof of Capacity and on Smart Contracts. The blog posts by Mczarnek are a good starting point, but polishing and review is required. Hint: Lisa Cheng is an expert in white papers and has been involved in the production of white papers for some other cryptocurrency projects. Another hint: google "Eight Rules for Creating Great White Papers".

3) Don't change the underlying parameters of this coin. Yes, the low price of the coin may be caused by miners who are dumping their coins. But this should be countered by attracting new buyers through the publication of a highbrow white paper.  Changing parameters or changing the name is an admission of failure, which is unnecessary with this coin.
 

[bobafett]

Hi,

People acquire a currency based on its utility, when I go to Spain I have to exchange my British Pounds for Euros so that I
can spend them in the local stores buying various goods and services. Take note:- I have to acquire euros to access the
products & services of the serviced zone.

Right now people have no reason to swap either fiat or other crypto currencys for burst. Only the other way around.
This is simply because burst does not have any very much economical use and as I said before we need something really
good that people can spend their burst on.

What product or service can we build that requires payment in burst?

Share you ideas, I'll even spend great deal of my burstcoin funding such a good idea.

We need to encourage people to acquire burst so that they can then access a useful product or service.

Bitcoins are the only crypto that you can widely use....

[bobafett]

Has anyone info if another coin is intrested in integrating cyam technology?

[Turn0ff]

if computer can be called APPLE i dont see any problem to call a coin BURST

if you compare it like that it takes at least 20 years before burst skyrockets  

i just dont believe that name change could make it skyrocket, if it do we can change the name every week until burst reach apple marketcap  

If name change, something with 'storage' (if this feuture is implemented) or something with 'eco' (to push the eco-friendliness in relation to POW).

Both would require funds for PR.

[Turn0ff]

Here's my take on how to make this coin more attractive.

1) No need to change the name.  The only problem with "burst" is that it's a commonly used word. Using "burstcoin" instead of "burst" makes every mention searchable and discoverable. 

2) This coin needs a white paper. A prestigious, high quality, peer-reviewed white paper, focusing on Proof of Capacity and on Smart Contracts. The blog posts by Mczarnek are a good starting point, but polishing and review is required. Hint: Lisa Cheng is an expert in white papers and has been involved in the production of white papers for some other cryptocurrency projects. Another hint: google "Eight Rules for Creating Great White Papers".

3) Don't change the underlying parameters of this coin. Yes, the low price of the coin may be caused by miners who are dumping their coins. But this should be countered by attracting new buyers through the publication of a highbrow white paper.  Changing parameters or changing the name is an admission of failure, which is unnecessary with this coin.
 

1st prize for the best first post goes to...... laurelled!!


Excellent, just excellent

[Turn0ff]

Has anyone info if another coin is intrested in integrating cyam technology?

I've no clue, but I do know CYIAM recently did a really stupid thing, more or less blackmailing the forum. As a consequence, he had to payback the BTC he up till that time held for the forum due to his great reputation. However, he's reputation must have gone down the hill, fast, after this, and I'd be surprised if it did not effects his business.

After reading about that, I don't own any Burst but is waiting for the market response to that and the future development, including funding. Edit

[mczarnek]

Here's my take on how to make this coin more attractive.

1) No need to change the name.  The only problem with "burst" is that it's a commonly used word. Using "burstcoin" instead of "burst" makes every mention searchable and discoverable. 

2) This coin needs a white paper. A prestigious, high quality, peer-reviewed white paper, focusing on Proof of Capacity and on Smart Contracts. The blog posts by Mczarnek are a good starting point, but polishing and review is required. Hint: Lisa Cheng is an expert in white papers and has been involved in the production of white papers for some other cryptocurrency projects. Another hint: google "Eight Rules for Creating Great White Papers".

3) Don't change the underlying parameters of this coin. Yes, the low price of the coin may be caused by miners who are dumping their coins. But this should be countered by attracting new buyers through the publication of a highbrow white paper.  Changing parameters or changing the name is an admission of failure, which is unnecessary with this coin.
 

Appreciate the thoughts laurelled.

I will look into Lisa Chang.. perhaps we can pay her for some help crafting a better paper.  Step number 7 of "Eight Rules for Creating Great White Papers":  Have a writer write it..  maybe we could could at least get someone to help us organize the flow.

Should a whitepaper be focused just on Proof of Capacity?  Then a separate white paper for our smart contracts implementation?

[mczarnek]

Has anyone info if another coin is intrested in integrating cyam technology?

I've no clue, but I do know CYIAM recently did a really stupid thing, more or less blackmailing the forum. As a consequence, he had to payback the BTC he up till that time held for the forum due to his great reputation. However, he's reputation must have gone down the hill, fast, after this, and I'd be surprised if it did not effects his business.

After reading about that, I don't own any Burst but is waiting for the market response to that and the future development, including funding. Edit

What?  Could you please elaborate or show us posts or something?

Keep in mind thought that it is largely vbecas and burstdev who implemented smart contracts.  CIYAM wrote them initially in C++ but he's barely touched the Burst implementation as far as I know.

Personally though, I think CIYAM is a great asset, and I'm not trying to distance ourselves.. just want to hear details for what you are saying and saying that even if it's true.. smart contracts will go on.

[timk225]

You people still trying to make something out of this crap coin?  Give it up.

[Turn0ff]

Has anyone info if another coin is intrested in integrating cyam technology?

I've no clue, but I do know CYIAM recently did a really stupid thing, more or less blackmailing the forum. As a consequence, he had to payback the BTC he up till that time held for the forum due to his great reputation. However, he's reputation must have gone down the hill, fast, after this, and I'd be surprised if it did not effects his business.

After reading about that, I don't own any Burst but is waiting for the market response to that and the future development, including funding. Edit

What?  Could you please elaborate or show us posts or something?

Keep in mind thought that it is largely vbecas and burstdev who implemented smart contracts.  CIYAM wrote them initially in C++ but he's barely touched the Burst implementation as far as I know.

Personally though, I think CIYAM is a great asset, and I'm not trying to distance ourselves.. just want to hear details for what you are saying and saying that even if it's true.. smart contracts will go on.

https://bitcointalk.org/index.php?topic=1086875.0;all

Trust going down the drain too...  

Allegedly lost control of forum funds entrusted to him by theymos, which he then used it as leverage to censor other users. Likely just an extortion attempt. If not, he still lost control of funds entrusted to him and that alone is caution worthy.

Etcetera.

[Irontiga]

https://bitcointalk.org/index.php?topic=1086875.0;all

Trust going down the drain too...  

Allegedly lost control of forum funds entrusted to him by theymos, which he then used it as leverage to censor other users. Likely just an extortion attempt. If not, he still lost control of funds entrusted to him and that alone is caution worthy.

Etcetera.

ROFL that's hilarious, go CIYAM lol. Silly thing to do but...why would that stop anyone from implementing the AT's?

Why u getting so up tight turnoff?

[Turn0ff]

---
Should a whitepaper be focused just on Proof of Capacity?  Then a separate white paper for our smart contracts implementation?

A white paper should have been written before launch (and I guess that's one of the things BurstDev would have done differently if doing it all over again...?).

A quality white paper, reviewed by knowledgeable members of the BTC community, would have given a whole different platform than we have today. I highly doubt we'd have +1000 pages in this thread with a white paper in the OP.

Practically, why not analyze which chapters are required to present both PoC and BURST in a suitable way?

PoC will of course be the first and most important chapter, located directly after an abstract/introduction. But to be able to evaluate the implementation of PoC - Burst as a coin and not just PoC as an algorithm - imho, key features of the coin needs to be addressed. However, not at the same length and detail as the PoC chapters.

Further, while chapter 1 (PoC) is completed and reviewed, work can be done on the on these supplementing sections.

Perhaps it is possible to co-write by delegation, when you have an idea of what to include, to speed up the process.