[ANN][BURST] Burst | Efficient HDD Mining | New 1.2.3 Fork block 92000 - page 167.

crowetic

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Activity: 2282

Merit: 1072

https://crowetic.com | https://qortal.org

Quote from: wmikrut on September 13, 2015, 11:10:56 PM

Wow... something epic just happened there....
Elmit and Crow agree on something... Grin

I'm trying to make this a more peaceful thread, I'm trying to further the coin and the tech, I'm trying to get people to stop fighting over things that aren't super important right now, causing unnecessary drama, and instead, help to give ideas, put new things in place to help the coin, and get more projects started.

So I will no longer directly attack Elmit, or anyone really, because all it does is lend people to think of BURST in an unprofessional manner, and I would appreciate it if not only he, but everyone here would do the same. (although I'm not stupid, and I know trolls will always exist, the non-trolls should go this route if possible, please.)

That's all, lets do things, make things, start things, get this going in the direction that we should all agree on.

Also, I don't know who brought it up again, but the modification of the block reward WILL NOT HAPPEN. At least not now anyway. Community development will be the direction we head for now, and I encourage as many people as possible to just start doing stuff, and tell us when you're ready to have some coders look it over.

wmikrut

hero member

Activity: 631

Merit: 501

Wow... something epic just happened there....
Elmit and Crow agree on something... Grin

Elmit

hero member

Activity: 785

Merit: 500

BURST got Smart Contracts (AT)

Quote from: crowetic on September 13, 2015, 11:05:43 PM

The 'miners responded' statistic on ninja is a good way to measure the 'active'. not ALL will respond each block, but there will be most.

Correct, but this figure I do not get, since only ninja knows that and not the block chain.

Elmit

hero member

Activity: 785

Merit: 500

BURST got Smart Contracts (AT)

Quote from: Merick on September 13, 2015, 10:33:26 PM

Registered miners is really a useless statistic. All that stat is showing is how many addresses have the reward recipient set to the pool address. Someone could easily just make a bunch of wallets and set the recipient. Or set the recipient and not mine actively. If your going to keep track, you should at least keep track of active miners on a pool during a specific time period. I am not familiar with the other pools but if you take Burst.ninja as an example, you will see that at any given time there is at max a little over 100 active miners submitting nonces. Burstcoin.de usually has between 35-50.

I agree with you, but there is no definition of active miners yet. Burstcoin shows active miners and said once it is the past 24 hours, which sounds not correct.
I will use my own definition of last 100 blocks, which is easier to program anyway.
Uray pool shows also Total miners, which differs from burstcoins's active miners and registered miners, as ninja shows.

crowetic

legendary

Activity: 2282

Merit: 1072

https://crowetic.com | https://qortal.org

The 'miners responded' statistic on ninja is a good way to measure the 'active'. not ALL will respond each block, but there will be most.

Merick

full member

Activity: 129

Merit: 100

Quote from: Elmit on September 13, 2015, 10:07:45 PM

We all agree that the network size should increase. Many people said they will add more TB. However, when I look at the statistics, I see still less network size:

Code:

Current time: 2015-09-14 02:03:38 UTC
Block: 142,510
Difficulty: 5,201
Est. Networksize (PB): 5.453320418537

BURST.MiningHere.com
Pool balance: 61,077
Registered Miners: 537

burst.ninja
Pool balance: 16,933
Registered Miners: 413

burst.poolto.be
Pool balance: 324
Registered Miners: 258

cryptomining.farm
Pool balance: 188,196
Registered Miners: 1,595

DevPool v2
Pool balance: 596,899
Registered Miners: 556

mining.tompool.org
Pool balance: 482
Registered Miners: 55

pool.blago
Pool balance: 4
Registered Miners: 114

pool.burstcoin.de
Pool balance: 25,368
Registered Miners: 126

pool.burstcoin.it
Pool balance: 37
Registered Miners: 56

Either people are DOING differntly then saying or something is going on.

Look at the latest miner stats:

Code:

[ 21.87% ] BURST-KQ2P-FWCW-AAYU-D9G24 (551) /bin/laden
[ 4.84% ] BURST-3N7E-CX8T-K6AM-D6Q4N (122)
[ 4.44% ] BURST-A7NY-ESG8-9VAT-DQJVF (112) M2
[ 2.82% ] BURST-5M3F-REHB-PWRE-6E4HP (71) M1
[ 2.74% ] BURST-ELAL-S7GX-6ASS-4RSAM (69) Milan Beograd
[ 1.87% ] BURST-42JY-E6TZ-885E-AZ9HK (47) <-= Pythagorean Switch =->
[ 1.79% ] BURST-XNS5-62HN-J3UY-79THE (45)
[ 1.55% ] BURST-JPV8-RWMY-NS4H-A5S5W (39) [ pool: 9075827522156768698 ]
[ 1.51% ] BURST-SDAC-FFUD-SMCB-D3Q74 (38)
[ 1.15% ] BURST-MKAD-NGL2-75LH-EPA4Y (29) MinerBeast [ pool: 21869187791279079 ]
[ 1.11% ] BURST-ACGB-YGHQ-G9ZL-5XD7U (28) Haitch ACGB [ pool: 12468105956737329840 ]
[ 1.07% ] BURST-WDK8-EYW8-NHMQ-77777 (27)
[ 0.99% ] BURST-XGHW-Z7GY-9HZ6-7P4F4 (25) Andrew [ pool: 12468105956737329840 ]
[ 0.91% ] BURST-BY7U-A5EF-6ACN-4MFYL (23) [ pool: 21869187791279079 ]
[ 0.79% ] BURST-Y2QP-GAKA-AECZ-9KQVA (20) No Name Set [ pool: 21869187791279079 ]
[ 0.79% ] BURST-FDUK-NG2J-5LFN-6EP8H (20) UD3
[ 0.75% ] BURST-UADJ-9AFK-Q62J-5YV2K (19)
[ 0.75% ] BURST-L2V2-AXNC-VW9G-9XBWM (19)
[ 0.75% ] BURST-DW86-ZA9J-DA5W-HTMJX (19) UP4
[ 0.75% ] BURST-HPEL-F589-ULTK-2F5MN (19) Evil Genius
[ 0.71% ] BURST-PC4J-ETQQ-VYHC-BPYHP (18) smaxer
[ 0.71% ] BURST-XNKK-XTSH-78J3-9SAAE (18) PinballDude
[ 0.71% ] BURST-3XFG-2JSB-HCUX-7HXBC (18) LVB - 100 TB - solo
[ 0.71% ] BURST-B2XN-WGYA-ND3F-2LHHS (18)
[ 0.67% ] BURST-EHY5-GRJU-6L6P-8C6FQ (17) [ pool: 21869187791279079 ]
[ 0.67% ] BURST-9LQ3-ZCH9-VDPH-8YUQK (17)
[ 0.67% ] BURST-8XMM-697F-6T5D-C49LZ (17) manini farm [ pool: 12468105956737329840 ]
[ 0.67% ] BURST-YW79-8Q33-PBQL-HD8N6 (17) [ pool: 21869187791279079 ]
[ 0.63% ] BURST-VBQV-PPZM-CPBN-6J2VX (16) B_O_X__2_4 [ pool: 12468105956737329840 ]
[ 0.63% ] BURST-XHKP-97P9-KZYQ-4ZEGA (16)
[ 0.56% ] BURST-7C3B-9LDN-VSXL-4TXE3 (14) SVD Miner [ pool: 21869187791279079 ]
[ 0.56% ] BURST-HXJK-TK7F-FL2N-9ND5U (14)
[ 0.56% ] BURST-D36T-BL8G-KLUU-4H5LM (14) burstless [ pool: 21869187791279079 ]
[ 0.52% ] BURST-J8K7-SJRD-TQAD-A52YA (13)
[ 0.52% ] BURST-WEJK-556L-8G9H-7HZND (13) zippo [ pool: 12468105956737329840 ]
[ 0.52% ] BURST-HR53-5R6S-C9VU-5YK4K (13) CH [ pool: 12468105956737329840 ]
[ 0.52% ] BURST-RCSC-W9BQ-WGG4-C6CKJ (13) [ pool: 21869187791279079 ]
[ 0.52% ] BURST-ESR7-L68N-8DAE-2XDQL (13) birdonwheels5
[ 0.48% ] BURST-T4AJ-CNVH-SSG9-8RSVL (12) [ pool: 21869187791279079 ]
[ 0.48% ] BURST-W945-7PTT-T4FD-732VF (12) Ivabeer
[ 0.48% ] BURST-7VA8-N2KU-CJEL-23WPY (12) [ pool: 21869187791279079 ]
[ 0.44% ] BURST-34FL-Z8RC-6SXE-HNNEY (11)
[ 0.44% ] BURST-BZ3J-UTHM-KTGV-9HKWE (11) C___A___T [ pool: 12468105956737329840 ]
[ 0.44% ] BURST-63T5-9TBH-ASG2-CT5ER (11) A_L_L_I_G_A_T_O_R [ pool: 12468105956737329840 ]
[ 0.40% ] BURST-TVC9-GTFD-AEB8-E6LAZ (10)
[ 0.40% ] BURST-KQ34-CVK6-TU4Z-9L7KT (10) Mining
[ 0.40% ] BURST-UWAA-HSVC-HDCM-G6P58 (10) [ pool: 392861956774712841 ]
[ 0.40% ] BURST-RAG7-HLHX-53PX-FNE94 (10) [ pool: 21869187791279079 ]
[ 0.40% ] BURST-A4GF-RU7J-8WHF-4PAUY (10) LI [ pool: 12468105956737329840 ]
[ 0.40% ] BURST-JFLX-V9X5-BNJB-D34E4 (10) [ pool: 5006289279420108746 ]
[ 0.40% ] BURST-AR5V-QMH7-M5B9-CK32L (10) M3ta
[ 0.40% ] BURST-79PK-DGC2-M4XP-HUAVB (10) crowetic [ pool: 12468105956737329840 ]
[ 0.40% ] BURST-UVJ9-SALJ-JKKQ-34GU3 (10) A1
[ 0.40% ] BURST-YVZQ-LJVQ-98YZ-8X2CU (10)

Registered miners is really a useless statistic. All that stat is showing is how many addresses have the reward recipient set to the pool address. Someone could easily just make a bunch of wallets and set the recipient. Or set the recipient and not mine actively. If your going to keep track, you should at least keep track of active miners on a pool during a specific time period. I am not familiar with the other pools but if you take Burst.ninja as an example, you will see that at any given time there is at max a little over 100 active miners submitting nonces. Burstcoin.de usually has between 35-50.

yeponlyone

hero member

Activity: 504

Merit: 500

Quote from: pinballdude on September 13, 2015, 07:24:03 PM

Quote from: yeponlyone on September 13, 2015, 07:15:43 PM

Yes it fluctuates but seems like the network size is decreasing again:

there is a bug in that graph, the very last down indication is not really there.

nw size is right now at BaseTarget 2892701 just below 3m that is 3 times more burst to remaining miners compared to when we were at 1m i'm happy with that. Not sure at what basetarget bitladen would be able to attack but i would guess more like 15m or perhaps 10m.

Thanks for the info! Is it a bug in https://bchain.info/BURST/graph too...?

Elmit

hero member

Activity: 785

Merit: 500

BURST got Smart Contracts (AT)

We all agree that the network size should increase. Many people said they will add more TB. However, when I look at the statistics, I see still less network size:

Code:

Current time: 2015-09-14 02:03:38 UTC
Block: 142,510
Difficulty: 5,201
Est. Networksize (PB): 5.453320418537

BURST.MiningHere.com
Pool balance: 61,077
Registered Miners: 537

burst.ninja
Pool balance: 16,933
Registered Miners: 413

burst.poolto.be
Pool balance: 324
Registered Miners: 258

cryptomining.farm
Pool balance: 188,196
Registered Miners: 1,595

DevPool v2
Pool balance: 596,899
Registered Miners: 556

mining.tompool.org
Pool balance: 482
Registered Miners: 55

pool.blago
Pool balance: 4
Registered Miners: 114

pool.burstcoin.de
Pool balance: 25,368
Registered Miners: 126

pool.burstcoin.it
Pool balance: 37
Registered Miners: 56

Either people are DOING differntly then saying or something is going on.

Look at the latest miner stats:

Code:

[ 21.87% ] BURST-KQ2P-FWCW-AAYU-D9G24 (551) /bin/laden
[ 4.84% ] BURST-3N7E-CX8T-K6AM-D6Q4N (122)
[ 4.44% ] BURST-A7NY-ESG8-9VAT-DQJVF (112) M2
[ 2.82% ] BURST-5M3F-REHB-PWRE-6E4HP (71) M1
[ 2.74% ] BURST-ELAL-S7GX-6ASS-4RSAM (69) Milan Beograd
[ 1.87% ] BURST-42JY-E6TZ-885E-AZ9HK (47) <-= Pythagorean Switch =->
[ 1.79% ] BURST-XNS5-62HN-J3UY-79THE (45)
[ 1.55% ] BURST-JPV8-RWMY-NS4H-A5S5W (39) [ pool: 9075827522156768698 ]
[ 1.51% ] BURST-SDAC-FFUD-SMCB-D3Q74 (38)
[ 1.15% ] BURST-MKAD-NGL2-75LH-EPA4Y (29) MinerBeast [ pool: 21869187791279079 ]
[ 1.11% ] BURST-ACGB-YGHQ-G9ZL-5XD7U (28) Haitch ACGB [ pool: 12468105956737329840 ]
[ 1.07% ] BURST-WDK8-EYW8-NHMQ-77777 (27)
[ 0.99% ] BURST-XGHW-Z7GY-9HZ6-7P4F4 (25) Andrew [ pool: 12468105956737329840 ]
[ 0.91% ] BURST-BY7U-A5EF-6ACN-4MFYL (23) [ pool: 21869187791279079 ]
[ 0.79% ] BURST-Y2QP-GAKA-AECZ-9KQVA (20) No Name Set [ pool: 21869187791279079 ]
[ 0.79% ] BURST-FDUK-NG2J-5LFN-6EP8H (20) UD3
[ 0.75% ] BURST-UADJ-9AFK-Q62J-5YV2K (19)
[ 0.75% ] BURST-L2V2-AXNC-VW9G-9XBWM (19)
[ 0.75% ] BURST-DW86-ZA9J-DA5W-HTMJX (19) UP4
[ 0.75% ] BURST-HPEL-F589-ULTK-2F5MN (19) Evil Genius
[ 0.71% ] BURST-PC4J-ETQQ-VYHC-BPYHP (18) smaxer
[ 0.71% ] BURST-XNKK-XTSH-78J3-9SAAE (18) PinballDude
[ 0.71% ] BURST-3XFG-2JSB-HCUX-7HXBC (18) LVB - 100 TB - solo
[ 0.71% ] BURST-B2XN-WGYA-ND3F-2LHHS (18)
[ 0.67% ] BURST-EHY5-GRJU-6L6P-8C6FQ (17) [ pool: 21869187791279079 ]
[ 0.67% ] BURST-9LQ3-ZCH9-VDPH-8YUQK (17)
[ 0.67% ] BURST-8XMM-697F-6T5D-C49LZ (17) manini farm [ pool: 12468105956737329840 ]
[ 0.67% ] BURST-YW79-8Q33-PBQL-HD8N6 (17) [ pool: 21869187791279079 ]
[ 0.63% ] BURST-VBQV-PPZM-CPBN-6J2VX (16) B_O_X__2_4 [ pool: 12468105956737329840 ]
[ 0.63% ] BURST-XHKP-97P9-KZYQ-4ZEGA (16)
[ 0.56% ] BURST-7C3B-9LDN-VSXL-4TXE3 (14) SVD Miner [ pool: 21869187791279079 ]
[ 0.56% ] BURST-HXJK-TK7F-FL2N-9ND5U (14)
[ 0.56% ] BURST-D36T-BL8G-KLUU-4H5LM (14) burstless [ pool: 21869187791279079 ]
[ 0.52% ] BURST-J8K7-SJRD-TQAD-A52YA (13)
[ 0.52% ] BURST-WEJK-556L-8G9H-7HZND (13) zippo [ pool: 12468105956737329840 ]
[ 0.52% ] BURST-HR53-5R6S-C9VU-5YK4K (13) CH [ pool: 12468105956737329840 ]
[ 0.52% ] BURST-RCSC-W9BQ-WGG4-C6CKJ (13) [ pool: 21869187791279079 ]
[ 0.52% ] BURST-ESR7-L68N-8DAE-2XDQL (13) birdonwheels5
[ 0.48% ] BURST-T4AJ-CNVH-SSG9-8RSVL (12) [ pool: 21869187791279079 ]
[ 0.48% ] BURST-W945-7PTT-T4FD-732VF (12) Ivabeer
[ 0.48% ] BURST-7VA8-N2KU-CJEL-23WPY (12) [ pool: 21869187791279079 ]
[ 0.44% ] BURST-34FL-Z8RC-6SXE-HNNEY (11)
[ 0.44% ] BURST-BZ3J-UTHM-KTGV-9HKWE (11) C___A___T [ pool: 12468105956737329840 ]
[ 0.44% ] BURST-63T5-9TBH-ASG2-CT5ER (11) A_L_L_I_G_A_T_O_R [ pool: 12468105956737329840 ]
[ 0.40% ] BURST-TVC9-GTFD-AEB8-E6LAZ (10)
[ 0.40% ] BURST-KQ34-CVK6-TU4Z-9L7KT (10) Mining
[ 0.40% ] BURST-UWAA-HSVC-HDCM-G6P58 (10) [ pool: 392861956774712841 ]
[ 0.40% ] BURST-RAG7-HLHX-53PX-FNE94 (10) [ pool: 21869187791279079 ]
[ 0.40% ] BURST-A4GF-RU7J-8WHF-4PAUY (10) LI [ pool: 12468105956737329840 ]
[ 0.40% ] BURST-JFLX-V9X5-BNJB-D34E4 (10) [ pool: 5006289279420108746 ]
[ 0.40% ] BURST-AR5V-QMH7-M5B9-CK32L (10) M3ta
[ 0.40% ] BURST-79PK-DGC2-M4XP-HUAVB (10) crowetic [ pool: 12468105956737329840 ]
[ 0.40% ] BURST-UVJ9-SALJ-JKKQ-34GU3 (10) A1
[ 0.40% ] BURST-YVZQ-LJVQ-98YZ-8X2CU (10)

crowetic

legendary

Activity: 2282

Merit: 1072

https://crowetic.com | https://qortal.org

Quote from: 8-bit-Party on September 13, 2015, 07:16:55 PM

Let's see this 51% attack from pityladen then.

You too man... I don't even know who you are, coming in out of nowhere starting with nonsense like this?

Also, you don't believe the obvious that is right in front of your face or what? Have you ever even LOOKED at the block explorer? Don't you see it is pretty obvious that he's the largest miner in the network BY FAR?

I will ask you to do the same that I just asked above, please, just stop with the nonsense. If we can all just work together here and make things more beneficial for everyone by making BURST a force to be reckoned with (even moreso than its tech already is) don't you think that would be better than doing what you're doing here? What do you hope to accomplish with this?

I for one, would prefer to not have BURST removed from exchanges due to the network being attacked, but maybe I'm one of the few who really cares, is that it?

Just drop the subject and let us move forward. I would appreciate it.

crowetic

legendary

Activity: 2282

Merit: 1072

https://crowetic.com | https://qortal.org

Quote from: Yanakitu Tenatako on September 13, 2015, 08:04:22 PM

There will be no 51% attack from this asshole, that is for sure.
Simply not because he does not want to, but because he cannot.

As simply as that.

Is this entirely necessary? I get him to stop with public threats and agree to do more beneficial things for the BURST community, and you try to get him to attack?

Really?

Can we all just quit with this please?

Yanakitu Tenatako

sr. member

Activity: 328

Merit: 250

There will be no 51% attack from this asshole, that is for sure.
Simply not because he does not want to, but because he cannot.

As simply as that.

pinballdude

sr. member

Activity: 286

Merit: 250

coin outlet makes bitcoin ATM's but actually uses NXT to send messages, as NXT has some advantages compared to bitcoin...

The project burst is cloned from kicks ass, probably passed on a lot of great genes to burst.

https://www.youtube.com/watch?v=FN0gUIVYu2s

pinballdude

sr. member

Activity: 286

Merit: 250

Quote from: yeponlyone on September 13, 2015, 07:15:43 PM

Yes it fluctuates but seems like the network size is decreasing again:

there is a bug in that graph, the very last down indication is not really there.

nw size is right now at BaseTarget 2892701 just below 3m that is 3 times more burst to remaining miners compared to when we were at 1m i'm happy with that. Not sure at what basetarget bitladen would be able to attack but i would guess more like 15m or perhaps 10m.

8-bit-Party

legendary

Activity: 1036

Merit: 1000

8b 16b DEMOSCENE FTW

Let's see this 51% attack from pityladen then.

yeponlyone

hero member

Activity: 504

Merit: 500

Yes it fluctuates but seems like the network size is decreasing again:

yeponlyone

hero member

Activity: 504

Merit: 500

Quote from: bitladen on September 13, 2015, 06:49:34 PM

Quote from: yeponlyone on September 13, 2015, 06:40:12 PM

This damn thread... Gone for a day and there are four pages to read (even without Elmit Wink

)

@bitladen, so you are gonna clone BURST...? Finally

Make sure to make possible new tools legit; it will just hurt the clone if there are malicious stuff in there. And try to write a white-paper: The clone has so much to win if you have one, compared to BURST. Also, for the name, try to find one that emphasize some of BURST's key features, as the eco-friendlieness.

What part of open source didn't you get?
Besides, I hope luxe will review the code. He seemed interested in the idea.

I didn't know you would do it open source. Great if you do

And the fact that I missed it, yet another reason for a separate thread for the pre-clone discussions.

bitladen

full member

Activity: 322

Merit: 100

Quote from: yeponlyone on September 13, 2015, 06:40:12 PM

This damn thread... Gone for a day and there are four pages to read (even without Elmit Wink

)

@bitladen, so you are gonna clone BURST...? Finally

Make sure to make possible new tools legit; it will just hurt the clone if there are malicious stuff in there. And try to write a white-paper: The clone has so much to win if you have one, compared to BURST. Also, for the name, try to find one that emphasize some of BURST's key features, as the eco-friendlieness.

What part of open source didn't you get?
Besides, I hope luxe will review the code. He seemed interested in the idea.

yeponlyone

hero member

Activity: 504

Merit: 500

This damn thread... Gone for a day and there are four pages to read (even without Elmit Wink

)

@bitladen, so you are gonna clone BURST...? Finally

Make sure to make possible new tools legit; it will just hurt the clone if there are malicious stuff in there. And try to write a white-paper: The clone has so much to win if you have one, compared to BURST. Also, for the name, try to find one that emphasize some of BURST's key features, as the eco-friendlieness.

Btw:

Quote from: yeponlyone on September 09, 2015, 09:24:27 PM

Why be afraid of a clone or new coin-fork with some tweaks and other features? Since when has competition been bad?

Evolution, baby Grin

Edit, perhaps make a pre-ANN were you describe your planned changes and get some feedback..? Perhaps even some new ideas and improvements can be the result. One other reason for doing that is that this is the BURST thread, not a clone-BURST thread Wink

wmikrut

hero member

Activity: 631

Merit: 501

Quote from: pinballdude on September 13, 2015, 06:24:54 PM

Quote from: bitladen on September 13, 2015, 05:44:56 PM

Quote from: pinballdude on September 13, 2015, 05:30:25 PM

Quote from: BurstIncomeAsset on September 13, 2015, 01:51:38 PM

Quote from: pinballdude on September 13, 2015, 06:19:47 AM

Burst is only inflationary in the short run. We've generated about half of the 2B burstcoins that will be the final total. number of BURST in circulation will double from here , following the distribution plan of reducing the amount distributed per block with 5% each month.

Sure but how long would this mining phase last? 1 year, 5 years?

i made some rough calculations, not precise, might not even be correct at all...

with 5133 reward i get 5.01% monthly inflation, that is now. This is way worse than usd of course

10 months from now, reward will be 3073 and inflation will be 2.17% monthly still a lot worse than usd

in month 69 after the start though, reward will be less than 2% yearly and at that point burst will obviously be a better store of wealth than usd is, and than most currencies is.

That will be 4.58 years from now.

At that time, you might see people storing value in burst and other non inflating currencies simply bc it is better than using fiat currencies. Goverments and central banks will declare war, but we will be way too far ahead for them to do anything about it.

Multiply by the devaluation compared to BTC you are getting 500% actually.

Worst yet is that if the Somalian government declares war to BURST, I think even they can put 4PB together and win. But if somehow they can't pull it off, there's always the Liberian government.

Oh, there's more, what if US government declares cryptocoins illegal? You might even have to conceal your identity. Are you prepared? Or will you just quit?

i don't think you can multiply by BTC inflation. If BTC for instance had an immediate inflation of 1000% for some reason (bitladen succedding in 51% attack on BTC and changing parameters) then what would happen, would be that burst price would hold steady against euro, usd , gold etc, but would rise a lot against BTC. So the BTC inflation does not affect BURST, if BTC went apeshit crazy, we would just exchange burst for other things like usd, eur, gold, litecoin, nxt, whatever ;-)

If US government declares cryptocoins illegal i'll laugh at the stupid statist socialist americans that keep voting populist crony capitalist idiots into power.

I'm not american, i was considering moving over in the 80s, but by now it is way to centralized and statist and socialist for my taste. the us taxes its citizens worldwide, you can't even leave the country and be left alone.

Nope. They even tax you on income made while you're out of the country.
Which I don't understand.

pinballdude

sr. member

Activity: 286

Merit: 250

Quote from: bitladen on September 13, 2015, 05:44:56 PM

Quote from: pinballdude on September 13, 2015, 05:30:25 PM

Quote from: BurstIncomeAsset on September 13, 2015, 01:51:38 PM

Quote from: pinballdude on September 13, 2015, 06:19:47 AM

Burst is only inflationary in the short run. We've generated about half of the 2B burstcoins that will be the final total. number of BURST in circulation will double from here , following the distribution plan of reducing the amount distributed per block with 5% each month.

Sure but how long would this mining phase last? 1 year, 5 years?

i made some rough calculations, not precise, might not even be correct at all...

with 5133 reward i get 5.01% monthly inflation, that is now. This is way worse than usd of course

10 months from now, reward will be 3073 and inflation will be 2.17% monthly still a lot worse than usd

in month 69 after the start though, reward will be less than 2% yearly and at that point burst will obviously be a better store of wealth than usd is, and than most currencies is.

That will be 4.58 years from now.

At that time, you might see people storing value in burst and other non inflating currencies simply bc it is better than using fiat currencies. Goverments and central banks will declare war, but we will be way too far ahead for them to do anything about it.

Multiply by the devaluation compared to BTC you are getting 500% actually.

Worst yet is that if the Somalian government declares war to BURST, I think even they can put 4PB together and win. But if somehow they can't pull it off, there's always the Liberian government.

Oh, there's more, what if US government declares cryptocoins illegal? You might even have to conceal your identity. Are you prepared? Or will you just quit?

i don't think you can multiply by BTC inflation. If BTC for instance had an immediate inflation of 1000% for some reason (bitladen succedding in 51% attack on BTC and changing parameters) then what would happen, would be that burst price would hold steady against euro, usd , gold etc, but would rise a lot against BTC. So the BTC inflation does not affect BURST, if BTC went apeshit crazy, we would just exchange burst for other things like usd, eur, gold, litecoin, nxt, whatever ;-)

If US government declares cryptocoins illegal i'll laugh at the stupid statist socialist americans that keep voting populist crony capitalist idiots into power.

I'm not american, i was considering moving over in the 80s, but by now it is way to centralized and statist and socialist for my taste. the us taxes its citizens worldwide, you can't even leave the country and be left alone.

Topic: [ANN][BURST] Burst | Efficient HDD Mining | New 1.2.3 Fork block 92000 - page 167. (Read 2170648 times)