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Topic: [ANN][BURST] Burst | Efficient HDD Mining | New 1.2.3 Fork block 92000 - page 541. (Read 2171056 times)

newbie
Activity: 47
Merit: 0
All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.

just awesome, thank you for this research! I care much much less now for network diff increase, this is great for BURST market

so these accounts turned on over the long weekend , in a short time delta.. then turned off.. these drives can not be reused for something else.. interesting.. veeery interesting

+1

That's almost conclusive evidence: Someone or a group have access to a huge amount of VPS's (or a few huge servers) and plotting 30-50TBs for each new account and lets them solo-mine.

Awesome research!  Smiley

They most either have substantial costs for this (speculating) or they somehow have free or almost free access to unused space somewhere. As said, it's interesting that they aren't selling...


Can you do a rough estimate on how many coins they can have accumulated so far?



Here is my calculation:

Total blocks in the last 24 hours: 350
Blocks found by these new solo miners in the last 24 hours: 123 (35,14%)

Total blocks in the last 48 hours: 708
Blocks found by these new solo miners in the last 48 hours: 259 (36,58%)

Total blocks in the last 72 hours: 1069
Blocks found by these new solo miners in the last 72 hours: 354 (33,16%)

These numbers are equal with the diff increase in the last few days (approx. 35% - 40%).
newbie
Activity: 20
Merit: 0
Hello,  

Im trying to setup for a Mining Pool,  Im having 3 Problems

Problem #1
{"errorCode":5,"errorDescription":"Unknown account"}  
From what i read i need 1 Burstcoin to Join can someone Kindly Help me out with a burst Coin to Wallet
BURST-BMFQ-H26K-4YW2-G3ZFD  Or   16552946861088230838
I also Read that i will need to Provide
2a3a6aa0d54915b6505bdeab5c8fd0da6f3f597c1a9ac2997c1ba2a89f8b2056
( both faucets are not working for me)

[---]

I've sent you some coins. When you receive it, you have to send some coins somewhere to secure the account.


***Edit: http://faucet.burstcoin.info was empty, I sent 1000 coins. Feel free to donate some so new miners can get started.

Thanks for filling the faucet:)! It worked also for me now and I can go on debugging the setup with the pool.
sr. member
Activity: 462
Merit: 250
All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.

just awesome, thank you for this research! I care much much less now for network diff increase, this is great for BURST market

so these accounts turned on over the long weekend , in a short time delta.. then turned off.. these drives can not be reused for something else.. interesting.. veeery interesting

+1

That's almost conclusive evidence: Someone or a group have access to a huge amount of VPS's (or a few huge servers) and plotting 30-50TBs for each new account and lets them solo-mine.

Awesome research!  Smiley

They most either have substantial costs for this (speculating) or they somehow have free or almost free access to unused space somewhere. As said, it's interesting that they aren't selling...


Can you do a rough estimate on how many coins they can have accumulated so far?

legendary
Activity: 1792
Merit: 1010
All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.

just awesome, thank you for this research! I care much much less now for network diff increase, this is great for BURST market

so these accounts turned on over the long weekend , in a short time delta.. then turned off.. these drives can not be reused for something else.. interesting.. veeery interesting
newbie
Activity: 47
Merit: 0
All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......

Yes but there are more then 300-400 new accounts that all started solo mining in the last few days. The age of these new accounts is between some days and a few hours.

New accounts from 26th nov - 2nd dec: 801
New accounts from 19th nov - 25th nov: 262

This are more then 500 new accounts as usual in the same time frame. Most of these accounts started solo mining and this explain the diff increase of 4pb.
sr. member
Activity: 462
Merit: 250
@burstcoin
perhaps you could give us a little update about the release of a new version....would be nice.

We do have a great dev, but he is only one person (who probably never sleeps  Wink ), but we as a community are many. There are a lot of stuff we can do that would increase value.

For example (yes, I started them Tongue), have a look here:
https://burstforum.com/index.php?threads/pr-and-technical-management-teams-good-bad-how.351/
and here:
https://burstforum.com/index.php?threads/possible-bounties-discussion-and-suggestions.329/

Dev will continue his fantastic work and news will come in due time.

Hence, I believe we should stop asking what burstcoin can do for us, and focus on what we can do for Burst.  Wink
hero member
Activity: 527
Merit: 500

will be a bit sarcastic here the 50 workstations will then buy and sell BURST to each other at 1 satoshi.. I hope not.. joking a bit, but you get my points


I was kinda hoping it wouldn't be the case in the begining, but now its obvious BURST is suspectible to industrial mining like anything else.

It never really claimed otherwise - coin distribution "fairness" (what? you gotta pay big in order to win big, assuming you can afford to ignite the feedback loop. Thus no fairness at all - at least Marx says so.) is a bit of pipe dream in cryptocurrency world - with the possible exception of early adopters.

The selling point of BURST is that it's much greener than CPU mining (capex/opex ratio is much better than PoW). Accidentaly, thats what makes it more suitable for DIY mining at home.

Anyone can easily have 3PB in their garage - it's only ~3-4kW of power or so (opex), but initial investment is huge - $100k (capex). ASIC miners worth of $100k consume at least ten times more. The need for air conditioning favours large warehouse operations, not garages, but DIY at home might not last forever either - the most efficient juke-box based BURST systems take a lot of space.

awesome post... people forget something.. they forget that one can not force anyone to purchase their capex expenditures  Cool

so unless industrial miner slows down, no one will invest ... however IF number of accounts goes up EVEN at high low whatever network capacity , that is good.. very good and investors do pay attention to that (savvy investors) checking # of accounts as we speak..

Well I daresay that I'd have an easier time selling off/reusing HDDs after a year of mining (cautious estimate), than I'd have trying to sell off/reuse GPUs after the same period.

TBH, I've always wanted a huge storage server for my private use, so I'd swallow that capex easier than with GPUs.
Then again, I am not really viewing this as a money maker, more of a learning experience/doing it for the heck of doing it

YMMV as always.
legendary
Activity: 1792
Merit: 1010

will be a bit sarcastic here the 50 workstations will then buy and sell BURST to each other at 1 satoshi.. I hope not.. joking a bit, but you get my points


I was kinda hoping it wouldn't be the case in the begining, but now its obvious BURST is suspectible to industrial mining like anything else.

It never really claimed otherwise - coin distribution "fairness" (what? you gotta pay big in order to win big, assuming you can afford to ignite the feedback loop. Thus no fairness at all - at least Marx says so.) is a bit of pipe dream in cryptocurrency world - with the possible exception of early adopters.

The selling point of BURST is that it's much greener than CPU mining (capex/opex ratio is much better than PoW). Accidentaly, thats what makes it more suitable for DIY mining at home.

Anyone can easily have 3PB in their garage - it's only ~3-4kW of power or so (opex), but initial investment is huge - $100k (capex). ASIC miners worth of $100k consume at least ten times more. The need for air conditioning favours large warehouse operations, not garages, but DIY at home might not last forever either - the most efficient juke-box based BURST systems take a lot of space.

awesome post... people forget something.. they forget that one can not force anyone to purchase their capex expenditures  Cool

so unless industrial miner slows down, no one will invest ... however IF number of accounts goes up EVEN at high low whatever network capacity , that is good.. very good and investors do pay attention to that (savvy investors) checking # of accounts as we speak..

also magnetic drives manufactures could easily corner this  Cool although there are specific Federal regulations against it.. but in foreign countries who knows! regardless my statement above applies to them as well.. they can mine even 80% coin supply and end up with no buyers
sr. member
Activity: 462
Merit: 250
I added a new feature to the "forged blocks" stats. Here you can see which accounts found the most blocks in the last 7 days: http://burstcoin.eu/charts/addresses-by-forged-blocks/week

You can also change the period to last 24 hours, last 30 days or all time.

What great new feature, especially in times like these!  Smiley The whole site is excellent, btw  Smiley
sr. member
Activity: 462
Merit: 250
Hello,  

Im trying to setup for a Mining Pool,  Im having 3 Problems

Problem #1
{"errorCode":5,"errorDescription":"Unknown account"}  
From what i read i need 1 Burstcoin to Join can someone Kindly Help me out with a burst Coin to Wallet
BURST-BMFQ-H26K-4YW2-G3ZFD  Or   16552946861088230838
I also Read that i will need to Provide
2a3a6aa0d54915b6505bdeab5c8fd0da6f3f597c1a9ac2997c1ba2a89f8b2056
( both faucets are not working for me)

[---]

I've sent you some coins. When you receive it, you have to send some coins somewhere to secure the account.


***Edit: http://faucet.burstcoin.info was empty, I sent 1000 coins. Feel free to donate some so new miners can get started.



Just threw 5k to the faucet.

Generous as always  Smiley Thanks!
hero member
Activity: 619
Merit: 500
All Top 10 adresses are mining since 3 weeks.... so they are new to burst, but they mining to long to explain the diff increase of 4pb since a week.......
newbie
Activity: 47
Merit: 0
Yes.

On the other hand, a smart big actor doesn't want to have one huge wallet where the transactions can be pinpointed ("x sent y million to polo now!"). I do think Burst has gotten more users and that contributes to the network size, but also that one or several big actors are creating new wallets not to draw attention to a single wallet getting really huge/traceable.


Did a cursory analysis. Some of the new wallets seem to solo mine with comparably high hash rate (15-30TB at least, as some have interval between blocks a day or two), spotted about a dozen - for example recent one - http://burstcoin.eu/address/14335543884474859574 . My working theory its a big miner op, with separate wallet per each server.

This seems to go along with what I've noticed just looking at the recent block list in the wallet. It seems there are a large number of blocks found recently by accounts that have no transactions and have only found 1-2 blocks.

Really interesting! Do the accounts stop mining after finding one or two blocks??


I added a new feature to the "forged blocks" stats. Here you can see which accounts found the most blocks in the last 7 days: http://burstcoin.eu/charts/addresses-by-forged-blocks/week

You can also change the period to last 24 hours, last 30 days or all time.
legendary
Activity: 2282
Merit: 1072
https://crowetic.com | https://qortal.org
Hello,  

Im trying to setup for a Mining Pool,  Im having 3 Problems

Problem #1
{"errorCode":5,"errorDescription":"Unknown account"}  
From what i read i need 1 Burstcoin to Join can someone Kindly Help me out with a burst Coin to Wallet
BURST-BMFQ-H26K-4YW2-G3ZFD  Or   16552946861088230838
I also Read that i will need to Provide
2a3a6aa0d54915b6505bdeab5c8fd0da6f3f597c1a9ac2997c1ba2a89f8b2056
( both faucets are not working for me)

[---]

I've sent you some coins. When you receive it, you have to send some coins somewhere to secure the account.


***Edit: http://faucet.burstcoin.info was empty, I sent 1000 coins. Feel free to donate some so new miners can get started.



Just threw 5k to the faucet.
member
Activity: 75
Merit: 10

will be a bit sarcastic here the 50 workstations will then buy and sell BURST to each other at 1 satoshi.. I hope not.. joking a bit, but you get my points


I was kinda hoping it wouldn't be the case in the begining, but now its obvious BURST is suspectible to industrial mining like anything else.

It never really claimed otherwise - coin distribution "fairness" (what? you gotta pay big in order to win big, assuming you can afford to ignite the feedback loop. Thus no fairness at all - at least Marx says so.) is a bit of pipe dream in cryptocurrency world - with the possible exception of early adopters.

The selling point of BURST is that it's much greener than CPU mining (capex/opex ratio is much better than PoW). Accidentaly, thats what makes it more suitable for DIY mining at home.

Anyone can easily have 3PB in their garage - it's only ~3-4kW of power or so (opex), but initial investment is huge - $100k (capex). ASIC miners worth of $100k consume at least ten times more. The need for air conditioning favours large warehouse operations, not garages, but DIY at home might not last forever either - the most efficient juke-box based BURST systems take a lot of space.
hero member
Activity: 868
Merit: 1000
anybody want to guess the price on Christmas ? Maybe the person who connected massive space is planning to do a Christmas pump.
legendary
Activity: 1792
Merit: 1010
@katlogic great points ... also imagine if network capacity shoots up pass 20 Peta.. believe many will disconnect drives and further consolidate power in few hands, data centers magnetic storage is not cheap.. and rentals I see here being 80T won't suffice and yearly contract ? at 20 Peta ? might not even pay for itself.. so.. not negative here by any means.. and problems with BURST is like with anything else, consolidation in few hands.. so there is also BURST "assets" that somehow could yield value.. I just don't know

the "sweet" spot was around 5 Peta.. at which point 1000's of workstation could build up holdings.. given max number of coins.. equals nice distribution..  at 20 Peta.. there will be 50 workstations if that many

will be a bit sarcastic here the 50 workstations will then buy and sell BURST to each other at 1 satoshi.. I hope not.. joking a bit, but you get my points
member
Activity: 75
Merit: 10
15-30TB indeed does not make much sense for rigs built exclusively for burstcoin, however the numbers do add up for VPS providers. Top of the line 12+ core CPUs (commonly used in the field where density is super important) can plot at 100Mbyte/s, which will finish plotting that capacity in ~1-3 days.

If this is indeed the case, our disruptive friend uses at least 100 of those. Servers can be added or repurposed very quickly, but is otherwise super unprofitable compared to dedicated rigs built for long-term mining. [---]


Thanks, that's an interesting theory Smiley I thought of something along those lines, but didn't think rented vps' would be economically feasible but I didn't check prizes.

If rented space would be the explanation, we are looking at something similar to what happened to monero this summer with amazon (AWS). Great story worth reading btw: http://da-data.blogspot.se/2014/08/minting-money-with-monero-and-cpu.html

I was speculating about short term rational miner (ie they already have the capacity, better mine burst, than race to the bottom VPS market).

It's not profitable to rent at current excahnge prices, by at least a factor of three wholesale price at the very best (by factor of ten with street prices for small miners).

It could be rented in the hopes that they could corner the market (and price shoots up) - not dumping would certainly align with that theory. In addition, they seem to have about 30-40% of network - right below of the 51% where everyone panics. This is IMO still huge gamble unless other whale accepts the invitation. Interesting times can happen - not unlike bitcoin ASIC whales in the beginning, but this time with spot rented storage on massive scale. All very wild speculation, for what we know, the miner could dump their coins any day, stop mining, and never to be seen again, only time can somewhat confirm their intentions (assuming they wont come out as a stealth startup or something).
hero member
Activity: 619
Merit: 500
at the moment i have the problem, that i want to invest in this coin, because i belive in it. but for the last week i tryied to buy for about 3btc burst. but is hard to find anyone who wants to sell. i needed about two days, to find enough seller to purchase burst for 1btc....

i got the feeling, everybody is waiting for ne next bump. and the bump will come, if the dev release a new feature and show us all, that there is a development progress......

@burstcoin
perhaps you could give us a little update about the release of a new version....would be nice.
legendary
Activity: 1792
Merit: 1010
many leave their drives mining and forget about them, many use USB drives, so the network hash will always be somewhat steady

someone indeed packed , continues to pack massive drives.. and price ain't going up! so he/she either a) waits for it to go up b) drives he got are free + electrical (which adds up with more drives. not like its ultra low) looks like some previous trials were performed and now he/she finally got it running steady.. for everyone else good luck to get 1000 BURST a day where before was 5 x as much

1000 BURST a day.. at 112 sat.. is.. well you do the math it is cents  Cool a drive failure could mean -150$ in the negative.. (and 50 T multiple drives failure could mean -1,000$ in the negative) good luck to us all  Cool

at 12 Peta network capacity , even if you have 100 T drives and congratulations if you do, you are looking at low payouts.. which is craaazy because magnetic storage is not cheap.. I don't know how people are doing.. but this sure aint economical at least not Today
hero member
Activity: 527
Merit: 500
Did a cursory analysis...

Thanks, that make sense, even if I believed each wallet/server/computer would have more capacity than that.

15-30TB indeed does not make much sense for rigs built exclusively for burstcoin, however the numbers do add up for VPS providers. Top of the line 12+ core CPUs (commonly used in the field where density is super important) can plot at 100Mbyte/s, which will finish plotting that capacity in ~1-3 days.

If this is indeed the case, our disruptive friend uses at least 100 of those. Servers can be added or repurposed very quickly, but is otherwise super unprofitable compared to dedicated rigs built for long-term mining. [---]


Thanks, that's an interesting theory Smiley I thought of something along those lines, but didn't think rented vps' would be economically feasible but I didn't check prizes.

If rented space would be the explanation, we are looking at something similar to what happened to monero this summer with amazon (AWS). Great story worth reading btw: http://da-data.blogspot.se/2014/08/minting-money-with-monero-and-cpu.html

If a coin is an inadequately prepared CPU coin, aws can spell doom. Botnets are also a threat. That is something that was obvious from the start even for a crypto nab such as me.

Burst can indeed be vulnerable to some big actors, so we should hope for an organic rise. Not rise concentrated in few hands.

EDIT: The article is a very nice read
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