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

[mmmaybe]

I added a new feature to the "forged blocks" stats. Here you can see which accounts found the most blocks in the last 7 days: http://burstcoin.eu/charts/addresses-by-forged-blocks/week

You can also change the period to last 24 hours, last 30 days or all time.

What great new feature, especially in times like these!  The whole site is excellent, btw 

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[q327K091]

will be a bit sarcastic here the 50 workstations will then buy and sell BURST to each other at 1 satoshi.. I hope not.. joking a bit, but you get my points

I was kinda hoping it wouldn't be the case in the begining, but now its obvious BURST is suspectible to industrial mining like anything else.

It never really claimed otherwise - coin distribution "fairness" (what? you gotta pay big in order to win big, assuming you can afford to ignite the feedback loop. Thus no fairness at all - at least Marx says so.) is a bit of pipe dream in cryptocurrency world - with the possible exception of early adopters.

The selling point of BURST is that it's much greener than CPU mining (capex/opex ratio is much better than PoW). Accidentaly, thats what makes it more suitable for DIY mining at home.

Anyone can easily have 3PB in their garage - it's only ~3-4kW of power or so (opex), but initial investment is huge - $100k (capex). ASIC miners worth of $100k consume at least ten times more. The need for air conditioning favours large warehouse operations, not garages, but DIY at home might not last forever either - the most efficient juke-box based BURST systems take a lot of space.

awesome post... people forget something.. they forget that one can not force anyone to purchase their capex expenditures  

so unless industrial miner slows down, no one will invest ... however IF number of accounts goes up EVEN at high low whatever network capacity , that is good.. very good and investors do pay attention to that (savvy investors) checking # of accounts as we speak..

also magnetic drives manufactures could easily corner this   although there are specific Federal regulations against it.. but in foreign countries who knows! regardless my statement above applies to them as well.. they can mine even 80% coin supply and end up with no buyers

[xizmax]

will be a bit sarcastic here the 50 workstations will then buy and sell BURST to each other at 1 satoshi.. I hope not.. joking a bit, but you get my points

I was kinda hoping it wouldn't be the case in the begining, but now its obvious BURST is suspectible to industrial mining like anything else.

It never really claimed otherwise - coin distribution "fairness" (what? you gotta pay big in order to win big, assuming you can afford to ignite the feedback loop. Thus no fairness at all - at least Marx says so.) is a bit of pipe dream in cryptocurrency world - with the possible exception of early adopters.

The selling point of BURST is that it's much greener than CPU mining (capex/opex ratio is much better than PoW). Accidentaly, thats what makes it more suitable for DIY mining at home.

Anyone can easily have 3PB in their garage - it's only ~3-4kW of power or so (opex), but initial investment is huge - $100k (capex). ASIC miners worth of $100k consume at least ten times more. The need for air conditioning favours large warehouse operations, not garages, but DIY at home might not last forever either - the most efficient juke-box based BURST systems take a lot of space.

awesome post... people forget something.. they forget that one can not force anyone to purchase their capex expenditures  

so unless industrial miner slows down, no one will invest ... however IF number of accounts goes up EVEN at high low whatever network capacity , that is good.. very good and investors do pay attention to that (savvy investors) checking # of accounts as we speak..

Well I daresay that I'd have an easier time selling off/reusing HDDs after a year of mining (cautious estimate), than I'd have trying to sell off/reuse GPUs after the same period.

TBH, I've always wanted a huge storage server for my private use, so I'd swallow that capex easier than with GPUs.
Then again, I am not really viewing this as a money maker, more of a learning experience/doing it for the heck of doing it

YMMV as always.

[mmmaybe]

@burstcoin
perhaps you could give us a little update about the release of a new version....would be nice.

We do have a great dev, but he is only one person (who probably never sleeps   ), but we as a community are many. There are a lot of stuff we can do that would increase value.

For example (yes, I started them ), have a look here:
https://burstforum.com/index.php?threads/pr-and-technical-management-teams-good-bad-how.351/
and here:
https://burstforum.com/index.php?threads/possible-bounties-discussion-and-suggestions.329/

Dev will continue his fantastic work and news will come in due time.

Hence, I believe we should stop asking what burstcoin can do for us, and focus on what we can do for Burst.  

[smaxer]

All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.

[q327K091]

All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.

just awesome, thank you for this research! I care much much less now for network diff increase, this is great for BURST market

so these accounts turned on over the long weekend , in a short time delta.. then turned off.. these drives can not be reused for something else.. interesting.. veeery interesting

[mmmaybe]

All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.

just awesome, thank you for this research! I care much much less now for network diff increase, this is great for BURST market

so these accounts turned on over the long weekend , in a short time delta.. then turned off.. these drives can not be reused for something else.. interesting.. veeery interesting

+1

That's almost conclusive evidence: Someone or a group have access to a huge amount of VPS's (or a few huge servers) and plotting 30-50TBs for each new account and lets them solo-mine.

Awesome research!  

They most either have substantial costs for this (speculating) or they somehow have free or almost free access to unused space somewhere. As said, it's interesting that they aren't selling...


Can you do a rough estimate on how many coins they can have accumulated so far?

[s4m0ht]

Hello,  

Im trying to setup for a Mining Pool,  Im having 3 Problems

Problem #1
{"errorCode":5,"errorDescription":"Unknown account"}  
From what i read i need 1 Burstcoin to Join can someone Kindly Help me out with a burst Coin to Wallet
BURST-BMFQ-H26K-4YW2-G3ZFD  Or   16552946861088230838
I also Read that i will need to Provide
2a3a6aa0d54915b6505bdeab5c8fd0da6f3f597c1a9ac2997c1ba2a89f8b2056
( both faucets are not working for me)

[---]

I've sent you some coins. When you receive it, you have to send some coins somewhere to secure the account.


***Edit: http://faucet.burstcoin.info was empty, I sent 1000 coins. Feel free to donate some so new miners can get started.

Thanks for filling the faucet:)! It worked also for me now and I can go on debugging the setup with the pool.

[smaxer]

All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.

just awesome, thank you for this research! I care much much less now for network diff increase, this is great for BURST market

so these accounts turned on over the long weekend , in a short time delta.. then turned off.. these drives can not be reused for something else.. interesting.. veeery interesting

+1

That's almost conclusive evidence: Someone or a group have access to a huge amount of VPS's (or a few huge servers) and plotting 30-50TBs for each new account and lets them solo-mine.

Awesome research!  

They most either have substantial costs for this (speculating) or they somehow have free or almost free access to unused space somewhere. As said, it's interesting that they aren't selling...


Can you do a rough estimate on how many coins they can have accumulated so far?

Here is my calculation:

Total blocks in the last 24 hours: 350
Blocks found by these new solo miners in the last 24 hours: 123 (35,14%)

Total blocks in the last 48 hours: 708
Blocks found by these new solo miners in the last 48 hours: 259 (36,58%)

Total blocks in the last 72 hours: 1069
Blocks found by these new solo miners in the last 72 hours: 354 (33,16%)

These numbers are equal with the diff increase in the last few days (approx. 35% - 40%).

[q327K091]

All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.

just awesome, thank you for this research! I care much much less now for network diff increase, this is great for BURST market

so these accounts turned on over the long weekend , in a short time delta.. then turned off.. these drives can not be reused for something else.. interesting.. veeery interesting

+1

That's almost conclusive evidence: Someone or a group have access to a huge amount of VPS's (or a few huge servers) and plotting 30-50TBs for each new account and lets them solo-mine.

Awesome research!  

They most either have substantial costs for this (speculating) or they somehow have free or almost free access to unused space somewhere. As said, it's interesting that they aren't selling...


Can you do a rough estimate on how many coins they can have accumulated so far?

ayyy.. but of course not human beings but could be one or a syndicate and 100's of accounts... back to square one.. selling at such a low price.. could be accumulating and holding..  also this requires ultra logistics and discipline and work to plot all these drives ... I mean clone is also possible... under diff account (same nounces) .. anyways.. still A LOT of work ... thanks again for your research...

[callmejack]

ayyy.. but of course not human beings but could be one or a syndicate and 100's of accounts... back to square one.. selling at such a low price.. could be accumulating and holding..  also this requires ultra logistics and discipline and work to plot all these drives ... I mean clone is also possible... under diff account (same nounces) .. anyways.. still A LOT of work ... thanks again for your research...

rolling out a autonomous cluster of plotter and miner instances is much simpler than managing several rigs for one account.
the most complex part is to keep the wallet private keys secure 
in my experience from the early days i had the impression that you get unproportional more blocks the more percent of the network you provide.
there were days where adding another 10 tb to hundred resulted in mining 20 instead of 12 blocks a day.
there may have been luck involved but i monitored this several times.

[regtable69]

wondering if someone can help me out. I'm using poc miner plotter the old one I used to be able to do staggers of about 8000 with 8gb ram and all worked well iv installed more ram and updated java to java 8 newest one and now it only does staggers of 1000 maximum. iv also tried wplotgenerator that just instantly fails and gpu plotting iv heard is no good but when I try with the newest vers I get the unknown writer error. I am now totally lost what to do as I have 24gb of ram I want to use to make uber staggers.
pm me if you want to keep the thread clean although sound advice is best on view.

[Nevril]

Super News!
I'm back from my vacation (if you want to invest, contact me, I'm fully operative now), but I didn't use all the time to relax, I also made a big reinvestment for the BLTPS Project.
Directly from the BLTPS Cloud Mining Journal:

BLTPS Project has bought another 1970 qASIC for 1.02 BTC (~60% Discount!!!) exploiting Cyber Monday offers from LTCGear and, again, with the help of AizenSou.
The payment has been a little troublesome as fully detailed here, but everything ended well
We are now kicking with 6470 qASIC (647 MHs). Pretty nice!

In the main thread, you'll find all the proofs, details and links to the transactions as usual.

Let me anticipate that I'm pretty sure I can hasten the first Burst payout to all our investors, such that it'll happen in December instead of mid January ... more details in 2 or 3 days

Burst Long Term Price Support project
(BLTPS)

Investment Status
Share value: 0.01 BTC - Sold Shares: 410 - Next goal: 650 405 250
Booked Shares (waiting for payment): 60
Hashrate supporting Burst: 647 MH/s (LTC)

[williamj2543]

Anyone have any basic burst price stats? Also does difficulty go up or down in this coin like the others?

[mmmaybe]

Here is my calculation:

Total blocks in the last 24 hours: 350
Blocks found by these new solo miners in the last 24 hours: 123 (35,14%)

Total blocks in the last 48 hours: 708
Blocks found by these new solo miners in the last 48 hours: 259 (36,58%)

Total blocks in the last 72 hours: 1069
Blocks found by these new solo miners in the last 72 hours: 354 (33,16%)

These numbers are equal with the diff increase in the last few days (approx. 35% - 40%).

Thanks for your contribution, just great

Given this they have daily earnings of about 1M bursts. At current price that's about 1,2BTC, or around $450. For monthly earnings multiply with 30: 36BTC or almost $14K.

Please correct me if I'm wrong.

But if it's correct, it's a decent monthly salary. But how many servers/vps with 50TBs could one rent for a month with $14k? Could hardly be economically feasible.

Still interesting that the volume is so low at exchanges. They are selling little or none. And even more interesting, what would happen with the price if/when they were selling?

[q327K091]

one word to the industrial miner idiot, BURST is now 0.00000111 BTC and falling possibly to 2 digits

the idiot because smart he ain't turned off his cluster and r-enabled it again, he is now mining almost half the network also he will be trading with himself as well  

the idiot should be aware that proper distribution spread amongst users (potenially who will conduct commerce in the future) is crucial to the success or no one will touch this crypto, go ahead spend your money and kill the coin

[katlogic]

Still interesting that the volume is so low at exchanges. They are selling little or none. And even more interesting, what would happen with the price if/when they were selling?

A half a dozen of whales can crash the price down to 1 sat atm, looks like we'll have soon a new kid on the block. As for the profitability - rented VPS would be probably bad news - it means they have enough capital to start pumping the market for a final dump and let the P&D carousel seen in other pumpcoins spin out of control in their favour. So I'm actually a bit relieved the market is in standstill now.

There are more cheerful explanations. Some of you may know I've been shopping for investor to realize what dev has been promising in rudimental fashion - actual storage "powered" by BURST (in reallity, gaining edge over competition thanks to mining BURST). So here's the plan - start a classic cloud-dropbox, service which would also mine BURST. You dedicate X TB for clients, but they dont usually use it all, basically rent the promise they can start using it anytime they want. Then, one just deletes plots to make up free space as necessary.

It may be possible someone beat me to it, but there's a catch - there's not been announcement of that service.

PS: I'm still looking for investors, I'd like to do it in fiat (signed agreements, shared incorporated ltd etc), DEX asset would be supplemental at best, currently there is not enough market depth to raise capital for anything worthwhile.

[q327K091]

Still interesting that the volume is so low at exchanges. They are selling little or none. And even more interesting, what would happen with the price if/when they were selling?

A half a dozen of whales can crash the price down to 1 sat atm, looks like we'll have soon a new kid on the block. As for the profitability - rented VPS would be probably bad news - it means they have enough capital to start pumping the market for a final dump and let the P&D carousel seen in other pumpcoins spin out of control in their favour. So I'm actually a bit relieved the market is in standstill now.

There are more cheerful explanations. Some of you may know I've been shopping for investor to realize what dev has been promising in rudimental fashion - actual storage "powered" by BURST (in reallity, gaining edge over competition thanks to mining BURST). So here's the plan - start a classic cloud-dropbox, service which would also mine BURST. You dedicate X TB for clients, but they dont usually use it all, basically rent the promise they can start using it anytime they want. Then, one just deletes plots to make up free space as necessary.

It may be possible someone beat me to it, but there's a catch - there's not been announcement of that service.

PS: I'm still looking for investors, I'd like to do it in fiat (signed agreements, shared incorporated ltd etc), DEX asset would be supplemental at best, currently there is not enough market depth to raise capital for anything worthwhile.

I can almost guarantee you standstill, also watch price even right now plummet like really fast (I am rarely wrong) I feel its too early for your proposal as I sense clones coming to the market next year.. idiot doing what he is doing right now will experience negative cash flow

wanted and discussed with few possibility of BURST being included in the supernet... that would be big.. but this idiot is causing havoc, if I would not any better based on the market price he is trying to take BURST out of the picture in the preparation for a clone now if that is the case I am changing word idiot to sophisticated but unethical

idiot has added more storage drives Today also, rest of you might as well stop mining

[bobafett]

Thanks for your contribution, just great

Given this they have daily earnings of about 1M bursts. At current price that's about 1,2BTC, or around $450. For monthly earnings multiply with 30: 36BTC or almost $14K.

Please correct me if I'm wrong.

But if it's correct, it's a decent monthly salary. But how many servers/vps with 50TBs could one rent for a month with $14k? Could hardly be economically feasible.

Still interesting that the volume is so low at exchanges. They are selling little or none. And even more interesting, what would happen with the price if/when they were selling?

this is the theory: look at the sale offers and the buy offers at the exchanges. at the moment he could not sell so much burst.... if he sell burst for one btc, the price is at 50 sat or below....

so i think he has a long term strategy, if he has one.

[q327K091]

Thanks for your contribution, just great

Given this they have daily earnings of about 1M bursts. At current price that's about 1,2BTC, or around $450. For monthly earnings multiply with 30: 36BTC or almost $14K.

Please correct me if I'm wrong.

But if it's correct, it's a decent monthly salary. But how many servers/vps with 50TBs could one rent for a month with $14k? Could hardly be economically feasible.

Still interesting that the volume is so low at exchanges. They are selling little or none. And even more interesting, what would happen with the price if/when they were selling?

this is the theory: look at the sale offers and the buy offers at the exchanges. at the moment he could not sell so much burst.... if he sell burst for one btc, the price is at 50 sat or below....

so i think he has a long term strategy, if he has one.

clones will bring BURST price to one digit.. also I know supernet is looking for coins and there will be consolidation, almost sure right now someone is coding POC and + tech as we speak, it will be fierce next year..

that entity , the idiot, with the the, has no idea how flexible market is I hope he did not unload 1000's of dollars for nothing, pain is coming