Topic: Burst Power Network [Pre-Announcement] - page 2. (Read 1723 times)

But wouldn't different computers mine the same "plot" in a different way?  This is where it gets confusing.

I wonder how to establish trust.  This could be called a version of cloud mining and that very term makes people cringe, lol.  Anyway, we won't know til we dive in.

Interesting project, hope you manage to pull it off.

Will be watching

Small update, but one that will make the entire project much easier to start and handle.  I was half asleep last night when it hit me.  The way to put all of this online is simple, OpenVZ and WHMCS.  For those that don't know, OpenVZ is the back-end of VPS rental.  I have not touched it in some time, but I am sure it has not changed much.  A new order for a VPS sends the command to OpenVZ to set aside X hard drive space and place a file template there.  Normally this template is an OS, like Ubuntu, but I want to modify that to setting aside a small amount, something like 10 MB and the file template will be nothing more than a few placeholder files with the clients username and a few details.

WHMCS is the billing portion and a little tinkering and it will rent out 1 package, the 1 TB mining rental and handle the monthly accounting.  The clients Burst public address, or a sub-alias of ours will be added to the database listing for each client and since we are starting with one 1 TB package, the payouts are simple division of the overall mining payouts for the business hot wallet. 

SolusVM is used with VPS rentals to control OpenVZ, but I don't think that there is a need for that, perhaps the admin end to delete clients.  With very little code tinkering and about thirty minutes of back-end website work, the whole system would be ready to go.

There is even a free and open source version of WHMCS out there if I remember correctly.  All of this is much better than writing the site from scratch, even better than using a Wordpress site and modding it.  The only thing to look closely at are the network, user and control changes that OpenVZ performs.  They could be ignored, since the files do not actually alter the TB drives, but I do not want to allow access to personal info of the clients without controlling it.

This is a pretty big break for the project.  It lowers the time to deploy and costs.  Plus, even though I know web development, I now feel better that a proven framework will be in place as opposed to something I write that may have security issues I don't see.

This is true, the part that uses the processor the most is the plotting, so that might take time.  But, you can literally move that "plot" around from drive to drive.  For the TB drives that we will be using, this doesn't make sense, as the time it takes to move it is just wasted.  However, even though you can move the plot from one place to another, copying it makes no sense unless the two copies are not mining at the same time.  I am not sure if someone could cheat using this system and mine the same plot from two different locations, but it is basically stupid.  But, if you have a friend that has a power PC, you can use his PC to plot say a 200 GB plot, and then move that plot to your laptop and you might save a very small amount of time.

Anyone can mine Burst, even with a laptop. Check out the main Burst forum for instructions: https://forums.burst-team.us/topic/165/videos-step-by-step-video-guides-how-to-mine-burstcoins. If you encounter problems, just ask in that forum and you will get help from fellow Bursters.

I have heard about burst coin 1 year ago, but i still not try to mining it. Because i just use laptop and doubt to trying mining it, am i can mining burst coin using laptop? Of course i have big capasity of harddrive?
 Thank you for answers.

As far as I have seen, this is the only current coin of its kind.  There is Storj, but that is a different concept.

It is quite interesting for me who are new to Burst mining, please keep update about the project and I'll sure this will help the decentralization of Burst.

I see no reason why not, we are, even right now carrying a balance of Burst.  Technically, any of our services could be purchased using pretty much any of the big coins.  We will have a BTC rate, Burst rate, LTC rate, Doge and maybe another.  Anyone that really wants to use the service, or any service we offer and has a coin that has value, is on an exchange and can be traded almost immediately is welcome to let us know and we will work out the business part.  

Edit......I would like to see those taking part be able to pay each new month from the mined funds of the previous month, easy to handle, no TX fees, lol.

Can use burstcoin as payment ?

This is the first announcement of our newest service that will be available very soon.  For those of you that are not familiar with Burst coin, you can check out their thread.

https://bitcointalksearch.org/topic/ann-new-burst-op-mine-any-free-space-hdd-mining-ats-ae-p2p-marketmore-1323657

I believe that is their newest thread.  The concept is simple....it is POC or Proof of Capacity

to compare with other concepts via a normal PC

POW is Proof of Work, your PC is rewarded for "working", solving the hash.

POS is Proof of Stake, your are paid for maintaining a balance, much like interest

There are others, but POC or Proof of Concept uses your drive space for reward payments, per se.  Simplified, you "plot" your HDD space, and then use that space to "mine" coins. This is done solo or pooled, as many other types of payments.

Now, our service, we will be buying 1 TB hard drives and blocking them into the PC's in batches, not networking, simple blocks of 8 HDD's in a cooled case, outside each controlling PC, plus the small HDD inside the PC.  Plotting is done first and through one power PC that has more RAM and GPU, then each drive is removed and blocked to a smaller PC, still 8 drives each and those are used to pool mine.  Unlike many other mining types, there is a staggering difference when these are pooled in the home or office.  For most pools, you cannot even hit the board with less than a TB of space used and each GB increases your spot on that "leader" board.  The service is the rental of mining power from a single TB drive month to month at $10 per TB.  This price may change, we are still working the bugs out.  Unlike cloud mining, these combined TB's increase the payouts a lot.  Whether a cloud mining site is real or not, the pooled resources do not show that much of a marked increase, most likely because they are not really mining, either way the difference between 100 MH/s and 200 MH/s is not that great for a Scrypt coin.

Each and every rental increases the payout for each other person.  Can we assure you that you will profit? No. Nothing will ever be that simple with Crypto. I can say that a single 1 TB drive, mining by itself has a fair to decent chance of hitting a $10 bill in a month, if not, it gets close.  However, 2 1 TB drives, working together have a very good chance of hitting $20 or more in the current environment.  Each drive puts it closer and closer to making a profit. 

We are working from a solar powered office, plus the only real power that is consumed is during the plotting process, the mining is much less than plotting and very much less than mining Scrypt or SHA-256 or other.  Anyone that wants to pre-order can do so at $7.50 per TB.  No matter what, we are purposely taking a full week to prepare each drive/account and that week does not count as part of your month's rental. We plot the drives slowly, in one file lump and then verify the work.  Refunds are considered, but as we begin we restrict people to wait out the entire first month before getting a refund.  This gives us and the POC concept a chance to prove that this can happen.  We have yet to decide whether the funds will be held in Burst the entire time or converted to BTC.  Anyone that wants their payouts in BTC, that is fine, but the cold and hot wallets may be kept in Burst, we are not positive. 

We will be flushing this ANN out over the next few days, fielding questions and taking suggestions.  Please no power attacks, if you do not trust the system or us or whatever, feel free to express that once and once only.  Leave room for people that want to take part to ask questions and move forward.  Either way, definitely check out Burst coin and the concept, it is not ours and we are not affiliated, just doing our part.