This post is not meant to be defamatory or incite any type of debate. It is merely a reference to let others know what is going on. After reading this over again I do seem to be making indirect accusation but they are only observations as best I can understand. Some smoke no fire.
What is currently going on with Burstcoin?
DDOS attacks is the short version. Currently there are DDOS attacks effecting all but 2 or 3 pools. Most useful online resources are down. Local wallet/solo mining is still fully functional. This is likely an attack on the coin itself to try and centralize it by folks with very little understanding of how cryptocurrency works. The development team is taking care of it and all online resources will likely be available and fully functional in coming days.
Will Bittrex unlist Burstcoin?
I cannot say for sure but at this point I believe it is unlikely. A member of the development team worked with Bittrex before the DDOS attacks were expanded to make sure they had access to an accurate wallet.
Why is all this happening?
It is experiencing the same problems most alt coins experience. In this case it appears as though the development team is under attack from a "faction" who figured out how to download open source software? I really do not know what their end game is, I do not believe they do either. All I know is it appears their goal is to drive away the development team by taking away their "profit". They seem to have no sense that anybody could see past a few dollars to the long term. The development team seems to have taken the bait and is now spending energy on them. Not much but more than they should be. As the "faction" downloaded each piece open source software and muddled through getting it running on their site they would DDOS that already existing service. Again I believe this is a play to centralize the coin.
Is Burstcoin dead/dying?
Not in the least. It does currently have cancer. But not the oh noes chemo it type of cancer more like a benign tumor. As no functionality of it has actually been diminished, only miners inconvenienced, it is unlikely to have any lasting effects.
What to do?
Give it a couple of days. The DDOS attacks were expanded 7/19 to the point where they actually caused inconvenience and the dev team are taking steps to protect from them. I would avoid, at this time, investing any large sum in Burstcoin. Until the dev team, the faction and tribalist miners get their shit together there is no telling how volatile it will become.
What is currently going on with Burstcoin?
DDOS attacks is the short version. Currently there are DDOS attacks effecting all but 2 or 3 pools. Most useful online resources are down. Local wallet/solo mining is still fully functional. This is likely an attack on the coin itself to try and centralize it by folks with very little understanding of how cryptocurrency works. The development team is taking care of it and all online resources will likely be available and fully functional in coming days.
Will Bittrex unlist Burstcoin?
I cannot say for sure but at this point I believe it is unlikely. A member of the development team worked with Bittrex before the DDOS attacks were expanded to make sure they had access to an accurate wallet.
Why is all this happening?
It is experiencing the same problems most alt coins experience. In this case it appears as though the development team is under attack from a "faction" who figured out how to download open source software? I really do not know what their end game is, I do not believe they do either. All I know is it appears their goal is to drive away the development team by taking away their "profit". They seem to have no sense that anybody could see past a few dollars to the long term. The development team seems to have taken the bait and is now spending energy on them. Not much but more than they should be. As the "faction" downloaded each piece open source software and muddled through getting it running on their site they would DDOS that already existing service. Again I believe this is a play to centralize the coin.
Is Burstcoin dead/dying?
Not in the least. It does currently have cancer. But not the oh noes chemo it type of cancer more like a benign tumor. As no functionality of it has actually been diminished, only miners inconvenienced, it is unlikely to have any lasting effects.
What to do?
Give it a couple of days. The DDOS attacks were expanded 7/19 to the point where they actually caused inconvenience and the dev team are taking steps to protect from them. I would avoid, at this time, investing any large sum in Burstcoin. Until the dev team, the faction and tribalist miners get their shit together there is no telling how volatile it will become.
this is in part, why crowetic leave burst...
and the price go down
