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-1323657I 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.