Topic: [ANN][BURST] Burst | Efficient HDD Mining | New 1.2.3 Fork block 92000 - page 164. (Read 2170648 times)

Crowetic is a very trusted member of BURST community. He's very helpful. So, if you think he did nothing (it's indeed you're wrong saying this), I can say he helped me a lot. So plus being a great plus for BURST, he's a great plus for the newbies. If he hadn't be there when I needed, I'd not be here.

There is the old "PR Team"-Slack which transforms slowly to a developers chatroom and a community slack which is for discussion but sadly very quiet. If someone wants to get invited to second, send me a pm with your email address.

What duncan_idaho did here is very bad style. Posting intern communication to the public. It's out of context anyway. It's difficult to understand what crowetic is saying - but for sure not what duncan_idaho is interpreting here.

btw. slightly confused... in the slack i have ( https://burstcoin.slack.com/messages/software_development/team/ ) i can't see the discussion from the screenshot. Do we have two slack accounts for burst, and am i in the old one?

I see no problem in what was done, if for some reason people want it otherwise, they'll fork themselves and eventually we'll assemble on a fork we like. We should be happy that crowetic is a man of action, and forking cannot bring harm to anyone anyway.

dirty linen...
Many men, many minds. Opinions differ.
No man is wise at all times.

Looks like that quote is talking about those people screaming about NON-OPEN SOURCE software. If I remeber correctly, Crow has stated that any released code would be OPEN SOURCE.

People continuing to complain about a moot point then deserve his label.  I don't personally see anything wrong with his statement.  Crow may not be the Burst Dev, but it is hard to argue that he and the team have not provided a lot of good to the coin.

Just my 2Burst

how sign in to our slack?

So. Crowetic decided something without community permission. I post screenshots from slack. Also look how our "PR master" is kind fo community. OPEN SOURCE SCREEMING IDIOTS. Nice.
Crowetic - You are not king of burst. Honestly you are noone. Just normal community member. Your PR "organisation" did nothing for burst. You are not dev and you will not take any decission without community voting and permission. So noone suuported you. IMO you are done.

Screenshots

I still think the big difference between BURST and other currencies is the great possibilities that gives AT. therefore we must create attractive charts and so people began to learn, invest and mining BURST.

It occurred to me that if we created the first roulette was totally fairy , paying 37 times the bet instead of the 36 times you pay at casinos, we would have a world first we could advertise and hopefully attract a large number of players.

It´ll be an AT that accept bets and every a,previously fixed, number of blocks (every 5 or 10 blocks) make a calculus from scoop (or finder adrress or deadline found....) to determine the winner number. Then it pays 37 times the bet for single number bet, or 37/2 for horse bets and so on.

At start, we could fund it with donations, and establish limits to the bets that allows AT running for a long time.

I can´t code the AT, but I´m sure that there is someone in this forum who could do it, if you thinks that´s a good idea.

Actually that is kind of what we tried to do on Open Transactions too, the default time to live for an order was 24 hours and the order matching code was set up to cancel your own overlapping orders rather than let you buy from yourself of sell to yourself so it was relatively easy to make order-placing scripts for each asset's main market-makers that would include the currentrates.inc include file and create buy and sell offers against each of the other major assets at three scales (lot sizes), marking up or down 1% per scale. For example mark up sell price 1% on the lots-of-100000-coins market, 2% on the lots-of-10000-coins market, and 3% on the lots-of-1000-coins market. When the current rates changed enough that today's sell offer is cheaper than yesterday's buy offer the offer-overlap safety feature in the code simply deleted the previous offer the script would otherwise having been buying from itself or selling to itself, and the fact that offers expired automatically meant no complex scripting needed to keep track of your previous offers and move or remove them.

This way we could keep both ways round of each main pair filled with offers at three scales automatically while leaving the trivially small scale markets untouched for retail businesses to play with, buying cheaper on the large scale markets and selling at retail scales to consumers or other small scale users.

At times we even ran the scripts three times a day, which would create ten lots for sale and offers to buy ten lots at each of the three scales three times over in a day.

Having different scales of market with different price markups might seem strange if you think of forex or shares markets, but remember that porkbellies, cans of beans and so on can also be assets, and it is certainly normal for things such as those to be cheaper per unit when bought in lots of many units at a time.

-MarkM-

OK, help me out here . . . how do I use pocminer_pool.jar?

thanks for this write up truly...meantime I added several new drives and mining at one point I would like to de-allocate BURST maybe a million to an asset to earn interest but it has to be ultra honest and trust me I apart with mined coins ultra rarely if ever

for example a decentralized casino but that is bound to produce fraud.. but that would make money.. there are other ideas till they come I mine and stash away.. cost of me mining is not that great . new drives were several hundred $ , new ASIC to compete will be several thousands.. I shall take my chances

~~~

Not sure I get what ur saying....but it would be easy enough I suppose to just run a bot to automatically place buy/sell orders based on current usd/cad exchange rates or whatever.

you're aware that if you were to say... clone BURST... your mining would be on HDDs and thus MUCH less power than mining the other coins you were mentioning. OR, you use BURST to establish your assets and see how it goes. I personally think you could use BURST exactly in the manner you're needing.

I think BURST is a platform that you may find extremely interesting whether you choose to clone it and make your own coin with which you can establish your assets, or do as irontiga mentioned and create asset to asset trading pairs with Automated Transactions on an already established 8 PetaByte network.

Also @tiga - isn't it possible to have the exchange rate automatically calculated like you've done with the blockchain? We can just set a different value for each of the 'coins' he will be using as assets on the AE.

Haha, this troll just leveled up!

The great MarkM speaks.... bow you fools!!!
 

Through AT's it is possible to create asset to asset trading pairs. This may incur higher fees than just 1 Burst like an asset to burst trade, but it shouldn't be a lot more. I would suggest speaking to vbcs about this.

Volume is important to exchanges, not to currencies.

Depth is important though.

A currency can get by quite well only performing one balance-of-payments exchange per year to balance up the international trade, for example if the Brits bought more stuff from the Canucks than the Canucks bought from the Brits during a given year, the Brits send some funds to the Canucks to balance their trade. Heck they need not even do an exchange for that, as when they do buy Canadian Digital Notes with which to make such payments they can buy enough for several years worth of balance of trade payments.

So what is important is depth: the ability to buy or sell millions of the 21 million coins of each type that exist.

Most of the time they can get by using the millions of each type of coin that they have in their treasury as "backing" for their own currency so that they are always able to buy back all of their own currency that is not currently in their own treasury.

So exchanges really have wrong incentives as far as the currencies are concerned; the currencies want places where for years and decades and centuries they can have offers on file to buy and to sell their coin, even if no exchanges actually take place in any given year or decade or century.

The main purpose of the exchanges, to them, is simply to establish a going rate of exchange, so that corporations banks whatever can consult an exchange rate table to conveniently accept various major currencies in payment for goods or payment of debts.

To establish price it is not necessary to have volume, just to have offers on both sides of the order-book, ideally massively more deep than anyone's normal day to day purchases, so that someone buying a few million units of a commodity need not concern themselves about depth of exchange rates just consult a price list of currencies because their purchase is trivially small compared to the vast amount of money in the forex markets.

(When a gas station says it will accept USD instead of CAD, for example, it does not look at a market for depth, it just looks in a newspaper to see today's exchange rate, and marks it up a little. Most transactions in the game similarly just look at the latest rates include-file, http://galaxies.mygamesonline.org/latestrates.inc or their scripts include the file, they do not go rooting around in exchanges to figure out what prices to charge in the various currencies. Look at the "prices of Deuterium in various currencies" listing for example at http://galaxies.mygamesonline.org/deuterium.html that is basically just using the latestrates include file exchange rates to convert the price into the various currencies/assets.)

-MarkM-

I recieved my 16TB today and have installed one 8TB drive, moving data onto the new drive and the drives being freed are being plotted and mined. I might only be able to plot and mine 8TB instead of 10TB as planned, but i'll buy some more TB next month.
 

Well right now they have been operating in a universe or multiverse in which very few of the currencies/assets in use actually appear on any of the types of exchange altcoin users are used to, which is to say website type exchanges where the public goes to the website and trades on it.

(Most players would just visit their guild, chat with the guildmasters, find out what the going rates were, and have their guild officers execute trades on the Open Transactions system on their behalf.)

Most of the coins that were originally created as blockchains have long ago switched from using blockchains because even using merged mining it turned out that blockchains are not practical to secure; you cannot get enough merged mining pools to support your coins so you end up with so little hashing power the coin cannot possibly be viewed as secure.

That is why we moved to Open Transactions in the first place, there were a number of nations and corporations that had coins in which there were 21 million coins, like bitcoin, but in which long ago all the coins were issued so there were no longer rewards available to miners for mining them, other than transaction fees.

We can see from what is happening with IXCoin and I0Coin how that is likely to turn out, so we moved to the Open Transactions platform to avoid the need for miners.

So look again at two players, one of whom is a Brit, a member of Britclan, a user of Britclan's national coin, the United Kingdom Britcoin, and the other is a Canuck, a member of the Canuck clan, a user of the Canucks' national coin, Canadian Digital Notes.

For what do you propose they sell the useless-to-them platform coins, heck lets get specific and assume they do try to use the BURST platform. They want to buy coins that are used in their universe / multiverse, such as those listed at http://galaxies.mygamesonline.org/digitalisassets.html

On the Open Transactions system we did actually have a platform coin of sorts, by turning on "usage credits" system we were able to prevent anyone doing any API calls without owning "usage credits".

But, the ":usage credits" on that system are deliberately not something you can trade, because another of their uses is as part of a Know Your Customer system; by having those usage credits available only directly from the system administrators Open Transactions enables system administrators to prevent anyone they do not know from using API calls. so that if they choose to do so they could refuse to issue any usage credits to anyone whose identity they are not satisfied with.

On Open Transactions you can pair any asset/currency against any other, and at any scale that is a power of ten, so you can have for example pairs at scale of millions where the governments and multi-nationals can trade in bulk with each other in "lots" of a million coins at a time, markets at scale of 100,000 where smaller players can break down a lot of a million into ten lots of 100,000 to sell at a profit, buying from the millions-scale markets, and so on down to markets where people can buy a single coin of a type at a time.

This was working very nicely actually, so much so that we are still looking into trying to migrate to the new Open Transactions system.

Maybe the problem with the huge numbers of platform coins is simply one of what is the saturation point at which the whales of the system will choke on the new incoming assets and find they no longer have enough platform coins laying around to be able to continue throwing them willy nilly at each new asset that comes along?

That is, maybe if I convince the nations and multinationals behind the major coins of the Galactic Milieu to each throw a few million of their 21 million coins into BURST, at a sufficiently high price in BURST, we can reach a point at which these whales that we fear have loaded themselves up with "enough" of each asset that they sit back and let some actual trading between the "new" assets take place?

But how much is this going to cost them in their own coins? I guess that is the problem.

It is possible that the real solution to all this is to clone one of the platforms and divide the billions or hundreds of billions of platform-coins among all the nations and multinationals that are behind our existing coins/assets, so that they themselves are the whales of the system...

Something like HORIZON might work if done that way, but, it would mean having to maintain the thing.

-MarkM-