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

[Nevril]

Burst Long Term Price Support project

Quick update
Shares counter - Last updated 10/nov/2014
Share value: 0.01 BTC - Sold Shares: 170 - Next goal: 250
Booked Shares (temporary, 'till orders fulfilled): min 50 - Max 130

To the Phase 1 investors who have booked some shares, please make sure you read your PMs on Burstforum. You'll find all the instructions to effectively buy them.

To those willing to invest, all needed info can be found in the official thread on Burstforum

[mczarnek]

How large are plots?  I thought the idea was they were hundreds of GB large.. but first post seems to indicate 262144 bytes?  I was thinking plots were something like 200 GB.. large plots would be good for ASIC resistance.. and could probably be used to lure over some litecoiners who recently lose that advantage.  I would target devs or various coins and people who have made a difference first instead of just announcing it to the community as a whole though.

Plot is 256kb. Every block a random portion of plot (1/4096) is used for mining (I'm simplifying things a bit).
The more plots you have the more chances of finding the best deadline. Generating plots 'on the fly' is very CPU-intensive, so the coin is ASIC-resistant.

Interesting... thanks.

Also, how much does Burst have to worry about 'Nothing at Stake'?  Basically you can try to mine on every fork you see?  If someone gets over 50% of the storage, then he can create a separate fork with very little effort that looks correct?  There is one way to sort of get around this but it can't be used to prevent new miners joining the network from joining the wrong fork. So, theoretically, given what is currently implemented.

[m3ta]

You people are still trying to make this shitcoin work?  Wow you're stupid.  I got out of it weeks ago and am far happier without the stress of this crapcoin on my mind.

As long as you keep posting, it means you didn't "get out of it" and you're the stupid one.
But by all means, do go on. It's nice to have a clown around.

m3 but why are you wasting your time with an ass like timk225.
are months that are throwing shit on burstcoin .... I do not know why ... but he's doing it .. certainly not me ...
I know the real value of burstcoin ... and the words of timk225 not scare me.

Wise words.. +1

[sickfancy]

Burst Long Term Price Support project

Quick update
Shares counter - Last updated 10/nov/2014
Share value: 0.01 BTC - Sold Shares: 170 - Next goal: 250
Booked Shares (temporary, 'till orders fulfilled): min 50 - Max 130

To the Phase 1 investors who have booked some shares, please make sure you read your PMs on Burstforum. You'll find all the instructions to effectively buy them.

To those willing to invest, all needed info can be found in the official thread on Burstforum

Just want to give my +1 support for this project.  A good option to accumulate Burst in addition to mining.

[hvidgaard]

How large are plots?  I thought the idea was they were hundreds of GB large.. but first post seems to indicate 262144 bytes?  I was thinking plots were something like 200 GB.. large plots would be good for ASIC resistance.. and could probably be used to lure over some litecoiners who recently lose that advantage.  I would target devs or various coins and people who have made a difference first instead of just announcing it to the community as a whole though.

Plot is 256kb. Every block a random portion of plot (1/4096) is used for mining (I'm simplifying things a bit).
The more plots you have the more chances of finding the best deadline. Generating plots 'on the fly' is very CPU-intensive, so the coin is ASIC-resistant.

Interesting... thanks.

Also, how much does Burst have to worry about 'Nothing at Stake'?  Basically you can try to mine on every fork you see?  If someone gets over 50% of the storage, then he can create a separate fork with very little effort that looks correct?  There is one way to sort of get around this but it can't be used to prevent new miners joining the network from joining the wrong fork. So, theoretically, given what is currently implemented.

It is no different than any other algorithm that has 50% value to determine the correct fork. If you own >50% of the Network power (or storage here), you can mine your own fork and publish it once it's ahead of the other fork. Nothing can prevent this in a decentralized system of this kind where the "majority" is right.

[mczarnek]

Also, how much does Burst have to worry about 'Nothing at Stake'?  Basically you can try to mine on every fork you see?  If someone gets over 50% of the storage, then he can create a separate fork with very little effort that looks correct?  There is one way to sort of get around this but it can't be used to prevent new miners joining the network from joining the wrong fork. So, theoretically, given what is currently implemented.

It is no different than any other algorithm that has 50% value to determine the correct fork. If you own >50% of the Network power (or storage here), you can mine your own fork and publish it once it's ahead of the other fork. Nothing can prevent this in a decentralized system of this kind where the "majority" is right.

The issue is let's say someone started working on a Proof of Work fork.  If they wanted to fake a fork that was 100 blocks long, they would have to remove 50% of the mining power from the main chain to create this fork, this would take 100 blocks to complete however.. by which point in time the network would be 100 blocks into the future, so they'd constantly be playing catch up.

The question is, can you occasionally say fake a fork like this in say 5 minutes with a large enough percentage of network resources that the network accepts and uses to overwrite the 10 confirmations of a blockchain which cheats the system and overrides that calculation?

[burstcoin]

How large are plots?  I thought the idea was they were hundreds of GB large.. but first post seems to indicate 262144 bytes?  I was thinking plots were something like 200 GB.. large plots would be good for ASIC resistance.. and could probably be used to lure over some litecoiners who recently lose that advantage.  I would target devs or various coins and people who have made a difference first instead of just announcing it to the community as a whole though.

People tend to use plot and plot file fairly interchangeably, but the official definition is a plot is 262144 bytes, and a plot file may have many plots in it, staggered together to reduce disk seeking. The relevant part each block is always 64 bytes starting on a 64 byte boundary, so they can be staggered together as such.

[KeyShare]

Happy to see Burst price rises again..it will never stop guys, this coin is the mining future.

I believe in it with 100% of my body and spirit, I'm sure it will be something very special..

Just believe on it guys

Keep going burst!

[brizio71]

Hi,

Does the Burst calculator (https://bchain.info/BURST/tools/calculator) the correct value ?

I have 10TB of plot files, using the calculator I should earn 4894 BTC per day, my last days was:

2014-11-10 = 3046.74180549 BURST or 0.005 BTC or 1.67 USD or 80 RUR
2014-11-09 = 3568.72379273 BURST or 0.005 BTC or 1.95 USD or 93 RUR
2014-11-08 = 2948.54032659 BURST or 0.004 BTC or 1.61 USD or 77 RUR
2014-11-07 = 1237.77490467 BURST or 0.002 BTC or 0.68 USD or 32 RUR
2014-11-06 = 3209.12890279 BURST or 0.005 BTC or 1.76 USD or 84 RUR
2014-11-05 = 2498.09233920 BURST or 0.004 BTC or 1.37 USD or 65 RUR

where is the problem ?

Thanks

[uray]

we are #1 sorted by % change(24h) on coinmarket cap



while on coingecko we are ranking #38



look our community rating is like a shit, because we dont use enough FB, Twitter, Reddit

[uray]

Hi,

Does the Burst calculator (https://bchain.info/BURST/tools/calculator) the correct value ?

I have 10TB of plot files, using the calculator I should earn 4894 BTC per day, my last days was:

2014-11-10 = 3046.74180549 BURST or 0.005 BTC or 1.67 USD or 80 RUR
2014-11-09 = 3568.72379273 BURST or 0.005 BTC or 1.95 USD or 93 RUR
2014-11-08 = 2948.54032659 BURST or 0.004 BTC or 1.61 USD or 77 RUR
2014-11-07 = 1237.77490467 BURST or 0.002 BTC or 0.68 USD or 32 RUR
2014-11-06 = 3209.12890279 BURST or 0.005 BTC or 1.76 USD or 84 RUR
2014-11-05 = 2498.09233920 BURST or 0.004 BTC or 1.37 USD or 65 RUR

where is the problem ?

Thanks

the problem is you see it wrong, its BURST, not BTC

[mmmaybe]

Seems to be some coordination at the exchanges also with a few buy walls, not huge but I've not seen that before:

bittrex, 1,5BTC @ 150sat and 2BTC @ 140sat
poloniex, 0,75BTC @ 155sat; 2BTC @ 150 and 2,8BTC @ 140sat
c-cex, 0,8BTC @ 150sat


Decent volyme too, 5th on polo last 24h.

[crowetic]

Seems to be some coordination at the exchanges also with a few buy walls, not huge but I've not seen that before:

bittrex, 1,5BTC @ 150sat and 2BTC @ 140sat
poloniex, 0,75BTC @ 155sat; 2BTC @ 150 and 2,8BTC @ 140sat
c-cex, 0,8BTC @ 150sat


Decent volyme too, 5th on polo last 24h.

I've noticed this happening a few times before as well.

[uray]

Seems to be some coordination at the exchanges also with a few buy walls, not huge but I've not seen that before:

bittrex, 1,5BTC @ 150sat and 2BTC @ 140sat
poloniex, 0,75BTC @ 155sat; 2BTC @ 150 and 2,8BTC @ 140sat
c-cex, 0,8BTC @ 150sat


Decent volyme too, 5th on polo last 24h.

I've noticed this happening a few times before as well.

at the same hour

[burstcoin]

Also, how much does Burst have to worry about 'Nothing at Stake'?  Basically you can try to mine on every fork you see?  If someone gets over 50% of the storage, then he can create a separate fork with very little effort that looks correct?  There is one way to sort of get around this but it can't be used to prevent new miners joining the network from joining the wrong fork. So, theoretically, given what is currently implemented.

It is no different than any other algorithm that has 50% value to determine the correct fork. If you own >50% of the Network power (or storage here), you can mine your own fork and publish it once it's ahead of the other fork. Nothing can prevent this in a decentralized system of this kind where the "majority" is right.

The issue is let's say someone started working on a Proof of Work fork.  If they wanted to fake a fork that was 100 blocks long, they would have to remove 50% of the mining power from the main chain to create this fork, this would take 100 blocks to complete however.. by which point in time the network would be 100 blocks into the future, so they'd constantly be playing catch up.

The question is, can you occasionally say fake a fork like this in say 5 minutes with a large enough percentage of network resources that the network accepts and uses to overwrite the 10 confirmations of a blockchain which cheats the system and overrides that calculation?

You are correct, a fake fork could be constructed in less time catching up to the current time starting from a block farther back than mining the real one took Considering the reading time for many user's plot files, you could probably construct the fake one in about 1.5 minutes/block. In order to achieve at least the same cumulative difficulty without running into the future(which would cause the chain to get rejected), the fake chain would still have to have a higher hashrate than the real one. In the case of semi-honest miners on both chains, catching up would probably be slower, as miners would be reading different data for each chain, so 3 minutes/block for creating a fake chain would be more likely, making catchup still faster, but not by as much.

Thanks for mentioning this, I'll certainly be keeping it in mind.

[mczarnek]

Also, how much does Burst have to worry about 'Nothing at Stake'?  Basically you can try to mine on every fork you see?  If someone gets over 50% of the storage, then he can create a separate fork with very little effort that looks correct?  There is one way to sort of get around this but it can't be used to prevent new miners joining the network from joining the wrong fork. So, theoretically, given what is currently implemented.

It is no different than any other algorithm that has 50% value to determine the correct fork. If you own >50% of the Network power (or storage here), you can mine your own fork and publish it once it's ahead of the other fork. Nothing can prevent this in a decentralized system of this kind where the "majority" is right.

The issue is let's say someone started working on a Proof of Work fork.  If they wanted to fake a fork that was 100 blocks long, they would have to remove 50% of the mining power from the main chain to create this fork, this would take 100 blocks to complete however.. by which point in time the network would be 100 blocks into the future, so they'd constantly be playing catch up.

The question is, can you occasionally say fake a fork like this in say 5 minutes with a large enough percentage of network resources that the network accepts and uses to overwrite the 10 confirmations of a blockchain which cheats the system and overrides that calculation?

You are correct, a fake fork could be constructed in less time catching up to the current time starting from a block farther back than mining the real one took Considering the reading time for many user's plot files, you could probably construct the fake one in about 1.5 minutes/block. In order to achieve at least the same cumulative difficulty without running into the future(which would cause the chain to get rejected), the fake chain would still have to have a higher hashrate than the real one. In the case of semi-honest miners on both chains, catching up would probably be slower, as miners would be reading different data for each chain, so 3 minutes/block for creating a fake chain would be more likely, making catchup still faster, but not by as much.

Thanks for mentioning this, I'll certainly be keeping it in mind.

Yeah, I don't see if as a huge negative.. like you said, still need to have more than half of the hashrate, but if someone could keep it, for a relatively short time, they could cause problems, starting from the past blocks.  Exactly, just something to keep in mind.

[pinballdude]

http://burstcoin.eu/address/5810532812037266198

some address seem to accumulate a lot of burst right now.

What is this exactly?

somebody stealing money using hacked passphrases?

or is it legit?

hah! probably an exchange!

or a pool?

[majere]

http://burstcoin.eu/address/5810532812037266198

some address seem to accumulate a lot of burst right now.

What is this exactly?

somebody stealing money using hacked passphrases?

or is it legit?

hah! probably an exchange!

Seems so, search the same address with NXT- prefix. A lot more transactions.

[uray]

http://burstcoin.eu/address/5810532812037266198

some address seem to accumulate a lot of burst right now.

What is this exactly?

somebody stealing money using hacked passphrases?

or is it legit?

hah! probably an exchange!

or a pool?

its poloniex address

whats funny is they are using same passpharase for NXT, NHZ and BURST

[pinballdude]

http://burstcoin.eu/address/5810532812037266198

some address seem to accumulate a lot of burst right now.

What is this exactly?

somebody stealing money using hacked passphrases?

or is it legit?

hah! probably an exchange!

Seems so, search the same address with NXT- prefix. A lot more transactions.

The same address with NXT prefix is a (or the) poloniex hot wallet (acc to something i read somewhere)

I guess it is possible to use the same PK to get a NXT address similar to your BURST address and vice versa. No big deal, but kinda fun, and shows the inheritage between the two.