Topic: [ANN][BURST] Burst | Efficient HDD Mining | New 1.2.3 Fork block 92000 - page 182. (Read 2170889 times)

Elmit, i agree fully with your stance on this. I wrote "If we ever need to change something"..  i do not think we ever will have to. 

BURST is not just a toy currency. It is also an application, and a system where you can do business.

All BURST assets are a magnet to investors, they can generate income from outside the BURST enviroment, and bring money into the BURST network.

This inherently adds value to BURST (which is then partially given to the miners who support the network).


So it's not just a toy currency to reward miners, for "playing" this game. But it's also a potential business platform that can be used to do business cheaply.

I think, to use the storage for something else than just mining is nonsens. It just waters the quality of the coin. Better store something important things in the blockchain, ...

I just ordered 2*8TB drives, the 16TB will free up at least 10TB on my smaller disks, which will then be used for BURST mining, so 10TB more for the network during next week.

Same here

That shows trust into the future!!!!

Maybe BinLaden is increasing his portion ;-)

I agree with SpeedDemon13, without some type of change to compete/integrate with these other solutions SIA, Storj, maidsafe there is no way anyone will be dedicating hard drive space to Burst versus these other solutions. The reason is that these other solutions will have an ecosystem behind them, I fail to see Burst being able to compete on the same level.  I removed all Burst plots to participate in the Storj testing and rewarded with sjcx. Burst is really stuck by the fact there is not a way to utilize the used space but it would be nice to see if something was possible with Storj as Burst does have some features that could benefit that platform.

Degrade it to a toy? A decentralized way to store files is a "toy"? versus centralized dropbox. Hard disk mining is very energy efficient compared to ASIC/BTC mining but there is still waste. Now instead of wasting energy you waste drive space. It serves no purpose other than to obtain worthless coins. The question is what would make people WANT to use Burst instead of up and coming solutions.

If the mining reward was increased does it sound logical to go buy a cup of coffee with Burst and merchant says "that will be 50,000 Burst". If general use of Burst is suppose to be an alternative to BTC it still does not seem realistic.

Isn't that again the philosophy: DONT USE THE COIN?

Better find products and services that MOVES COINS and so increases the miners reward!!!

Lucky that the INCOME funds are kept in BTC, because BURST just lost half of it's value, but the fund is still intact and not that it haven't lost a single %, but it is actually gaining ~0.11% daily in value

I think anybody that wants to buy BURST should buy now, this exceptional low price is unique and wont be repeated for long, so all traders should really start buying.

Buy BURST & BURST assets, and everything will be fine! 

get rich or die trying. 

Btw. thanks to bitladen for talking down the price this much. I have been buying a little at 26 sat, now all my BTC ( not that much ) has been converted to BURST, i have 4.4 mln burst.  Network size seems to come up again , difficulty is right now 1732900 and not long ago it was sometimes above 3 million, so we almost doubled from the bottom.  As long as a lot of the mined BURST is sold for BTC as soon as it is mined, we have some selling pressure on BURST, but as the reward go down, the selling pressure will too Big miners will simply have fewer BURST to sell. Historically, many BURST miners kept their coins bc they believe in a future at higher prices. I will keep mine too, as long as i find BURST offering something that most other alts do not.

I think we should stick to the original miner reward scheme, and see how it plays out.  If we ever need to change something, we might want to adjust the minimum amount you need to pay to do a transaction. That will not affect the inflation dynamics, only make it a bit more expensive to move burst around.

Sometime in the distant future, the block rewards will go away or get so small they are lower than fees.

You could for instance set the fee to 1 BURST or 0.01% of the amount of money transferred, whichever is largest.  Then miners will get at least 0.01% of the total transaction volume in the network as payment for their services.

We should also do some work towards having more transactions in a block. At some point, hopefully, burst will be so popular that we max out the number of transactions we can do every 4 minutes. Same problem that bitcoin has, but not likely to be a problem for us, for some time. However, we better keep the capacity a lot higher than the current need at all times, so we have time to figure the best way to do such a change.

Somebody created a lot ( 1000+ ) of wallets recently.

Is some new product or service in the making?

Same, only thing is I am not against unlimited supply, I am for freezing block reward and always having it the same. This is unlimited but predictable, and as time goes on the inflation percentage would decrease. This would solve the issue of major miners at the start holding all the coins, but not make the reward increase so that the price drops.

Why doesn't someone make a thread over on https://burstforum.com and make a poll to see who agrees with what? Or maybe we should make an AT for a poll, will look into it in a few days, heading off and am gonna be busy for a bit now

No it's not dead but stuck in development. Need some time to regroup. Vbcs will still be maintaining the AT part of BURST.

So this coin offically dead?

I agree 100%

I spoke with vbcs by PM but unfortunatelly he is not able to fully work on burst.

I continue to mining burst on dev v2 pool. In near future i will buy more storage to secure blokchain and "borrow" some space from IT department where i work.

I´ve been here, with BURST comunity from the early september 14. I write infrequently  because I´m spanish and  I´ve a very bad english, but I read the BURST treath every week. I´ve been mining BURST with some Tb from then and I buy some others BURST. Nowadays I own about 4 million BURST, but I spend much more than the actual value.

I´ve just read Crowetic document and I DON´T agree in some of the questions.

i) I can´t understand the reason to change the reward schema. I, like many others, think that if the BURST provided is unlimited, BURST will have in a not very long term a zero value.

ii)I´ll, also, not change the reward scheme for creating a donation fund, it would be created for the pool administrators and major solo miners, giving the 5% or 10% to that fund for each block found.

iii) and the most important, I DO NOT AGREE that the person who has been blackmailing us over the last six months and is the main cause of the lower price of the BURST, will become the maindev. He has not shown at any time has the capabilities to perform the job.

BUSRT wallet and BURST blockchain has no problems to be cahnged, the maindev must be someone with high capacities in Smart Contracts (AT) that is the great diference of this coin with all the other ones. We need to improve AT´s and generate enthusiasm in people to use this currency, because BURST it´s one of the most disruptive and high-tech coins and those are our most valuable asset.

I give my vote for maindev to vbcs, helped for someone with java and/or NTX skill.

That´s my opinon

I don't think that this is necessary. Think more as hard disk mining a cheaper machine. To degrade it to a toy would not benefit at all.