You guys needs to fix your Mining Difficulty, i told the dev that he would get exactly this problem and this was a year ago.
If you check your mined coins you already mined 50% of your 2 Billion coins.
Also you need way more advertisement to get more people interest in this project and i mean not who is interested to invest money but to mine coins.
You only have two choices this time, either fix your mining difficulty or change your mining protocol to PoS.
what's wrong with the difficulty. If miners abandon burst the difficutly gets easier and the remaining miners earn more. if miners flock to burst, the difficulty gets harder and the miners earn less. I see no problem there.
if burst gets worth more, miners get paid more in real terms, and that will attract miners and make the blockchain more secure, if burst gets worth less, miners get paid less in real terms, and that will make some miners go away.. but then... if the market cap is 1mln usd, we only need to make sure it's a lot more expensive than 1mln usd to attack the coin.
when all the coins are mined, miners will live off fees. We may or may not have to make some changes to the size of fees when we get to that point, it will depend on the value of 1 BURST. we can just look at the hash size for the chain at that time, and if the hash size is way too small, we could consider a discussion about increasing the minimum fee to more than one, or perhaps make it possible for miners to not add transactions that have the fee under some level. (not sure if we can do that now)
I think you still don't got it aren't you ? Burstcoin was mined out to 50% already in just one year ! This means your mining difficulty is just to low. In this case you would have mined all your coins in just a total 3 years.
I believe you have things mixed up my friend. How about you go and take a look at a term called 'controlled supply'.
Coin emission has nothing to do with mining difficulty. BURST being 'mined out' in 60 months (IIRC) is by design.
Well, looks like his "
design" ain't working.
It is working exactly as designed. You believe that this particular design is not correct/proper/achieving good results and that is perfectly fine
I believe you have things mixed up my friend. How about you go and take a look at a term called 'controlled supply'.
Coin emission has nothing to do with mining difficulty. BURST being 'mined out' in 60 months (IIRC) is by design.
And might be a good reason to release a clone with a different design to possibly attract more miners long-term...
Perhaps, I do not think that there is enough data in crypto to be able to tell what a good emission rate is, or in fact, whether such a deflationary model works at all
.
Sure, but you will get more data by releasing clones with different emission rates
And competition is seldom wrong imho.
We must realize that Burst does have problems with a decreasing network size, making it more vulnerable to 51% attacks and not attracting investors. Experimenting with clones might be a solution. It doesn't mean we don't believe in the basic technology presented in BUST, quite the contrary in fact, I'd say.
we have had a price "crash" from over 100 to below 30. Network size is supposed to start to adjust down towards 30% when the price adjust down to 30%, it's by design. You want the expenses to match the revenue.
I think you are just greedy and want money taken from users, and given to miners.
Jeez... I agree that Burst is a winner
but only technology-wise. It's innovative as no other coin. Great.
But we have had a little price crash...? You're lying if you saying the "crash" is from 100 to 30sat. There is a very steady downward-trend since the pump to +200sat back in February. In that perspective, a majority of miners have stayed extremely loyal. I'm convinced they are loyal due to the basic technological breakthroughs that Burst has, coupled with the low cost of mining, hoping something magical will happen. Like the coin will be magical discovered by the masses after 15 months since launch.
That won't happened, coz Burst is just as big of a failure when it comes the utility, current and coming development, and PR, as it is a winner when it comes to innovation and technology.
Greed..., yup, perhaps, but greed is good. Read Douglas' monologue from the movie and you understand what I mean. Greed drives people like pure technology does not.
That said, I do think that a clone with a different emission rate will be more successful, but I'm quite pessimistic to whether only changing the emission rate is enough as incentive to make a star out of PoC/AT/ACCT/etc. A clone would have a way better chance to be successful if it's backed by some serious investors from the get-go, enabling to pay for developers and PR, or developmental collaboration with a coin as Sia.
But perhaps I'm wrong, perhaps a different emission rate will suffice. I'd say "let's see". And let's see what will happen to Burst with competition out there.
I invested 200k BURST a month ago. Today I sold all of it! (bought at 0.00000032 sold at 0.00000029).
The biggest problem with BURST is Plotting, second is lack of good Guides and software. I think that if there isn’t going to be a breakthrough soon, BURST is lost, this is why:
I do love mining BUSRT itself allot, like the most of us. I like tying up old hardware and re-use it to get involved with the future. This is why Bitcoin ever got into the publicity, without us geeks nothing would have happened and the Block chain technology would not been what it is today. We can’t strengthen this BUSRT community if it there won’t be more interest from the big crowd. We need a more simple proses for everybody to start with BURST, just like Bitcoin and Script had in the past. The Windows GUI wallet works, but most mining guides you find are out of date. The BURST forum has certificate errors so it looks dead and abandoned and most guides available have download links that don’t work anymore or just take you through the very basics without explaining stuff (I know, we are geeks not marketing guru`s). All utilities that have been built by the community to calculate plots, nonces etc. are nice, but we need a simple all-in-one version that does it all. A step by step walkthrough that gets you going, not just explaining wat a Stagger is, but take you through it and gives you a slider at the end rather than editing a .txt and build a code, covert it back to .bat to start plotting. My bets are on the Windows GUI wallet, but we need more power from the build-in plotter. Now its plotting 2TB with my Intel Core i7-3820 (s2011), most of the big crowd have less power. The Windows GUI wallet plots with just 1GB RAM out of my 16GB available? Ok it does 9200 nonce, not bad, but it takes a whopping 48 hours to get one drive finished at 8 cores! Do you know how many noise a PC makes for 48hours when its plotting with all 8 cores? And yes, I have water-cooling! Some of the disks I tested plotted on the Windows GUI wallet Plotter won’t ever complete. They will be fully written 100% so the plotter can’t write the entire plot to the drive since its full?!?. It would be nice if the plotter had calculated the Plot upfront instead of me finding out after 48h draining 850watts of power it can’t complete its plot? We also need more power, we need the ability to use all of our RAM available if we want to, we have GPU`s, why can’t we use it in the Windows GUI Wallet? We also need hardware guides to build dedicated plotters and we need YouTube films that take us through things like “Assets” (which are big scams anyway!), the marketplace, Aliases, messages, Tokens, Transactions etc. None of that is at hand at the moment except if you spend 5 days hoping from one dead forum to another dead forum (this one is alive but a big mess, a moderator would be nice!). Questions like Flash drives, USB 2.0 vs USB 3.0 are unanswered or scattered around abandoned forums. Why is all of this a mystery, are the people that are currently mining scared to share their knowledge to the big crowd? Afraid the difficulty would rise? If yes, this Crypto is lost, because without public interest, the value will never increase! Soon the world will found out Bitcoin mining is dead if they haven’t already. BURST would be the next best thing, time is ticking!
I`m willing to make BURST YouTube films and take people through all of it. I spend at least 50 hours on BURST and still don’t have all the required answers I need to build a guide or add any value for people than beyond what’s already on YouTube. I`m very dedicated to get stuff working, but I don’t know many people that have real computer skills that would be able to get this figured out. What I`m trying to say; if I can’t get it working and figured out myself, most of the people won’t. Without public interest, BURST will be a small community with people like you guys mining this crypto, and that way it won’t grow in value like Bitcoin did.
So creators of BURST, please get the big public`s interest, and I believe BURST has a second change. Without improvement, this wonderful technology (PoC) will soon be copy pasted by another Crypto and BURST will be lost. Next week the Antminer S7 orders will be delivered, Bitcoin will very soon loose allot of miners. The will go online to find out if there is money to be made. Be there with BURST while we can!
Sorry for my frustrations, trust me when I say “I do believe in BURST” but there is work to be done!
or something between 8 and 16?