Burst is finally fighting to get its real market value. I hope we see it among the top 50 by the beginning of next year and then move on to be on the top 20. I heard something that an announcement from the PoCC is something the community would like.
Wait for an announcement from rico666. There will be a new whitepaper and of proof of concept code released before Christmas.
Topic: Burstcoin [BURST] Price Speculation - page 6. (Read 24252 times)
There was no proof that crowetic's beliefs are true. Rico666 has already replied to that exit post, which I will quote below this post, when I raised the same question in the Burst ANN thread. Every flaw and issue crowetic has raised have all been fixed by the PoCC. But thats according to rico666, and I am having faith in what he said.
But a debate between crowetic and rico666 would be needed to close the issue.
Certainly you refer to this exit post from crowetic: https://bitcointalksearch.org/topic/m.19868944
So to make some things clear:
Crowetic believed many other things in his "Exit post", which were partially true (like the network not being able to handle the max num of transactions without forking at the time of his post) and some which were not true because as a non-dev he had not enough insight into these matters.
Again, I would like to state that all of this is in no way meant to discredit him. It's only meant as a clarification, so that "Word of mouth" doesn't start to skew the facts more and more.
Ok?
Now he also said he does believe some other things, which have proven to be untrue. Like BURST could only be repaired when written anew "from scratch up" and the similar.
That was provably untrue, because BURST today has already rock solid wallets/nodes - if you happen to use the right version.
https://explore.burst.cryptoguru.org/tool/observe (the number of valid nodes was somewhere in the single-digit percentage when Crowetic wrote his post)
If you look at the changes necessary to make BURST stable and being able to cope with max-TXs capacity, it was not that much. You just had to know/find where to apply your patch.
Nevertheless, in the meantime much more work happened on the BURST core. We actually started to make fundamental changes - which Crowetic also called for - to the code base to make it fit for future requirements. So the situation is not like "Maybe its better to give the PoCC more time to fix the core problems..."
The situation is much more such, that the PoCC and the remaining core devs have already fixed the problems that plagued BURST in July and are now already en route to implement things Crowetic wouldn't even have hoped for 3 months ago. Like DB independece, multiple DB backends which did require significant changes to the underlying infrastructure.
We are running a permanent TestNet and the wallet there is - intentionally - beaten rigorously. Because of this we have fixed errors and problems Crowetic (and others) weren't even aware of!
As problems of stability become a thing of the past, new paths open up for developing functionality and infrastructure. We are entering the "age of emancipation", where the BURST code base starts to be better in certain aspects than the original (and present) NXT code base. And this trend will continue - as we did already announce in our 1st announcement
Is there much work to do? YES! Is some magic ultra-rocket science needed? NO! Just plain old good software engineering, done by people with the skills, experience and dedication.
That's all it takes for now.
Of course, we do have some magic ultra-rocket science available when needed.
But a debate between crowetic and rico666 would be needed to close the issue.
Certainly you refer to this exit post from crowetic: https://bitcointalksearch.org/topic/m.19868944
So to make some things clear:
- Crowetic is no developer and has never been. I do not say this to discredit him in any way, it's a simple fact he also stated himself many times. He was sysadmin and he had (maybe paid) developers to look into things. So I would see him as kind of "facilitator", but not developer.
- He is one man. So when you said "There were some developers who said..." you have blown things out of proportion. No developer and not plural.
- Even Crowetic stated - and I quote: "I fully believe the algo is able to be exploited". Now while this shows a strong belief, it is nothing else than that: a belief.
Crowetic believed many other things in his "Exit post", which were partially true (like the network not being able to handle the max num of transactions without forking at the time of his post) and some which were not true because as a non-dev he had not enough insight into these matters.
Again, I would like to state that all of this is in no way meant to discredit him. It's only meant as a clarification, so that "Word of mouth" doesn't start to skew the facts more and more.
There were no developers, not even a single one who said that BURST is broken to the core. There was one non-dev guy who said he believes that.
Ok?
Now he also said he does believe some other things, which have proven to be untrue. Like BURST could only be repaired when written anew "from scratch up" and the similar.
That was provably untrue, because BURST today has already rock solid wallets/nodes - if you happen to use the right version.
https://explore.burst.cryptoguru.org/tool/observe (the number of valid nodes was somewhere in the single-digit percentage when Crowetic wrote his post)
If you look at the changes necessary to make BURST stable and being able to cope with max-TXs capacity, it was not that much. You just had to know/find where to apply your patch.
Nevertheless, in the meantime much more work happened on the BURST core. We actually started to make fundamental changes - which Crowetic also called for - to the code base to make it fit for future requirements. So the situation is not like "Maybe its better to give the PoCC more time to fix the core problems..."
The situation is much more such, that the PoCC and the remaining core devs have already fixed the problems that plagued BURST in July and are now already en route to implement things Crowetic wouldn't even have hoped for 3 months ago. Like DB independece, multiple DB backends which did require significant changes to the underlying infrastructure.
We are running a permanent TestNet and the wallet there is - intentionally - beaten rigorously. Because of this we have fixed errors and problems Crowetic (and others) weren't even aware of!
As problems of stability become a thing of the past, new paths open up for developing functionality and infrastructure. We are entering the "age of emancipation", where the BURST code base starts to be better in certain aspects than the original (and present) NXT code base. And this trend will continue - as we did already announce in our 1st announcement
Quote
We will change this and we will change it fast, because
even NXT has not the development capacities we are bringing to the
table right now.
even NXT has not the development capacities we are bringing to the
table right now.
Is there much work to do? YES! Is some magic ultra-rocket science needed? NO! Just plain old good software engineering, done by people with the skills, experience and dedication.
That's all it takes for now.
Of course, we do have some magic ultra-rocket science available when needed.
Okay although this thread is old, but i am going to give my Point here
So currently Burst is like what, around x8 below of its peak price at 800 satoshi
It is now at 100 Satoshi, 2Billion Supply
Working platform, Mainly to deal with Assets type coin.
Proof of Capacity
Nothing is wrong with the coin, it could be something but the previous chain stuck and old member leaving turn the price down
One of the Pioneer Member claim "I fully believe the algo is able to be exploited", well i am non technical guys but hes call might be true , Source: https://bitcointalksearch.org/topic/m.19868944
To make Burstcoin good again, it will be "The only way BURST can survive, is by total re-build."
Or else, Burst might goes low and low.
So currently Burst is like what, around x8 below of its peak price at 800 satoshi
It is now at 100 Satoshi, 2Billion Supply
Working platform, Mainly to deal with Assets type coin.
Proof of Capacity
Nothing is wrong with the coin, it could be something but the previous chain stuck and old member leaving turn the price down
One of the Pioneer Member claim "I fully believe the algo is able to be exploited", well i am non technical guys but hes call might be true , Source: https://bitcointalksearch.org/topic/m.19868944
To make Burstcoin good again, it will be "The only way BURST can survive, is by total re-build."
Or else, Burst might goes low and low.
Can you give us a clue of what the GMP is? The mystery is giving me ulcers.
If I were to guess, the GMP includes a partnership or an enterprise alliance with a company that wants to have its ICO in the Burst platform. Am I correct?
If I were to guess, the GMP includes a partnership or an enterprise alliance with a company that wants to have its ICO in the Burst platform. Am I correct?
For the sake of accuracy: Nxt isn't deconstructed. It stays as it is - and will get any features that can be transferred from Ardor.
...
I mean, your word in god's ear.
...
I mean, your word in god's ear.
ditto.
Quote
I'm betting on you and hope it will all work out. Do you have word on what the plans are for the mining? As I mentioned in the other thread, if the inflation target stays the same, and the way the mining works, then the plan is not sustainable. Some additional special use case would be needed, so that (as you mentioned) fees can pick up to keep mining profitable.
I see you are one of the (many) people who rely heavily on being told plans for something to be able to judge the future of this something.
I am sorry if the PoCC has to disappoint you. Neither do we discuss nor announce our plans. We chose a mode of operation to present things when they are ready.
Of course we do have a GMP, and its far beyond the petty thinking quoted above.
Rico, the price looks good to buy now with the new found stability at the bottom, and the sellers may have run out of coins to dump. Would you advice investors to start buying now or will we see more selling pressure coming?
All the development is very encouraging from my perspective, I hope some big investors start seeing it.
All the development is very encouraging from my perspective, I hope some big investors start seeing it.
For the sake of accuracy: Nxt isn't deconstructed. It stays as it is - and will get any features that can be transferred from Ardor.
Ardor has a different architecture, so there is room for both - though you are right that the focus will be on Ardor.
As such though, I haven't seen yet the plans for Burst that would be a similarly big change in architecture as Nxt -> Ardor. So I find the 20% cap prediction a bit much. And you're shooting for a moving target once again. Ardor has been moving consistently upwards, and will IMO continue for the coming months.
I mean, your word in god's ear. I'm betting on you and hope it will all work out. Do you have word on what the plans are for the mining? As I mentioned in the other thread, if the inflation target stays the same, and the way the mining works, then the plan is not sustainable. Some additional special use case would be needed, so that (as you mentioned) fees can pick up to keep mining profitable.
Ardor has a different architecture, so there is room for both - though you are right that the focus will be on Ardor.
As such though, I haven't seen yet the plans for Burst that would be a similarly big change in architecture as Nxt -> Ardor. So I find the 20% cap prediction a bit much. And you're shooting for a moving target once again. Ardor has been moving consistently upwards, and will IMO continue for the coming months.
I mean, your word in god's ear. I'm betting on you and hope it will all work out. Do you have word on what the plans are for the mining? As I mentioned in the other thread, if the inflation target stays the same, and the way the mining works, then the plan is not sustainable. Some additional special use case would be needed, so that (as you mentioned) fees can pick up to keep mining profitable.
Hi Rico. Forgive me for doubting your projection of BTC.00001 for Burst. Its now very close to impossible for that to happen. But thats not a real concern for me. I still believe in what the PoCC is doing. What troubles me is this could have a negative impact on the miners' sentiments, and some of them might start leaving.
The holders should start mining and should be willing to mine at a loss for the sake of Burst's security.
As a mining newb, whats a good brand for a hard drive and how many TB should I get?
The holders should start mining and should be willing to mine at a loss for the sake of Burst's security.
As a mining newb, whats a good brand for a hard drive and how many TB should I get?
https://news.bitcoin.com/2018-bitcoin-price-tim-draper-unlikely/
In 2016 Tim Drapers prediction (made 2014) that bitcoin would reach $10000 in 2018 "still seemed unlikely".
With Bitcoin scratching at $6000 - does it still seem unlikely? I don't think so.
Should Bitcoin crash to $2500 it may seem unlikely again.
People are short sighted in general. (And those who aren't become millionaires or better)
That being said, I do agree that at the moment 1000 seems unlikely. When I made that estimate, a Burst for 1000 Sat would mean for Burst to have 40% of the MktCap of Nxt, because I believe Burst should - by the end of 2017 - be at 40% of Nxt value. It's still hovering at around 20%.
With BTC rising significantly and Nxt being deconstructed in favor of Ardor, 1000 Sat would bring Burst at the moment to a MktCap of 200% of Nxt and that is actually 5 times my original "prediction". Simple math makes my prediction 200 Sat "at the current market situation" - which as you can see is way less bold than how the numbers, that have developed meanwhile, suggest.
HOWEVER,
with Nxt being deconstructed, I think it is necessary to leave that currency behind and focus on its successor - Ardor. As Ardor is considered "A Nxt that has reinvented itself", Burst is reinventing itself right now too. People just do not realize, because its keeping the name. I think 20% of Ardor MktCap is an equivalent, modest and realistic goal for the End of 2017.
Hint - in case the fellow reader hasn't noted:
We moved our goal upwards, comparing Burst with a way bigger currency now.
It will reach to more than 1000sats don't worry about it because once bitcoin settles the price of Burst will automatically move up words. Already it touched nearly 932 sats may be next target more than 1000sats. It may happen within a month or so.
It will reach 1000 Sat by end of 2017, but the reasons are completely different than what you lay out here.
The pump to 932 Sat was something ... not sure if orchestrated or by the oblivious market. In any case it had no foundation in anything BURST offered at that time. The infrastructure was broken, wallets had lots of potential security issues and - inevitably - got squashed away in the July spam attack, so that the exchanges had to halt BURST trading.
If you think about it, these 900+ Sat was completely oblivious and I tend to believe that's what markets are: completely oblivious.
In any direction, because as unjustified-high Burst was before the July attacks, as unjustified-low it is now.
Network is stable and robust as never before https://explore.burst.cryptoguru.org/tool/observe (percentage of valid nodes in July was like single digit...), we do have a true mobile wallet now https://play.google.com/apps/testing/org.icewave.burstcoinwallet, a better main wallet, easy-to-install for Linux users: http://package.cryptoguru.org/
And even for Windows-Noobs:
https://forums.getburst.net/t/windows-cg-burst-wallet-launcher-released-the-most-stable-wallet-for-windows-users/608
In general, for about 6 weeks, BURST is gaining tremendous development momentum. And it's not just another crypto. It is the only crypto using Proof-of-Capacity for mining (transaction confirmation). And no, storj and similar shit doesn't count.
So yes, BURST will reach 1000 Sat - I believe even rather quick by the end of 2017, because it is right now ridiculously undervalued (conservatively I would say it should hover at 400 right now) and should FOMO kick in - hell knows what price we may see.
Hi Rico. Forgive me for doubting your projection of BTC.00001 for Burst. Its now very close to impossible for that to happen. But thats not a real concern for me. I still believe in what the PoCC is doing. What troubles me is this could have a negative impact on the miners' sentiments, and some of them might start leaving.
The holders should start mining and should be willing to mine at a loss for the sake of Burst's security.
As a mining newb, whats a good brand for a hard drive and how many TB should I get?
I really love the coin . It is only coin which can be mined with the HDD. I thought(still think that) the future of the coin is very bright so I brought it when it was 800 satoshi / Burst. But the blockchain of the coin was attacked and the price of the coin dropped down quite a bit after then. still the price is very low . Hope that the coin will be start increasing soon.
I'm eager to know what plans there are ... but in the end, it's no guarantee for the price. It could be the most awesome innovative feature, and people don't notice. Burst with being the first currency with smart contracts is a perfect example.
I stocked up quite a bit, since I think Burst is at rock bottom. The upwards potential is huge. But I won't be surprised if it goes the other way. ¯\_(ツ)_/¯
I stocked up quite a bit, since I think Burst is at rock bottom. The upwards potential is huge. But I won't be surprised if it goes the other way. ¯\_(ツ)_/¯
We should have faith in the PoCC. But giving you another perspective, Burst is still very undervalued compared to the other top 100 cryptocurrencies. It has been around longer, more development is done with it and therefore its more mature.
Most of the ICOs and tokens above it in value are still very young and they are also in a legal predicament. Burst has no ICO and premine, and that makes it a better investment with more potential to go up once more bans for ICOs come in.
The future is bright! (^̮^)
I'm eager to know what plans there are ... but in the end, it's no guarantee for the price. It could be the most awesome innovative feature, and people don't notice. Burst with being the first currency with smart contracts is a perfect example.
I stocked up quite a bit, since I think Burst is at rock bottom. The upwards potential is huge. But I won't be surprised if it goes the other way. ¯\_(ツ)_/¯
I stocked up quite a bit, since I think Burst is at rock bottom. The upwards potential is huge. But I won't be surprised if it goes the other way. ¯\_(ツ)_/¯
It will reach to more than 1000sats don't worry about it because once bitcoin settles the price of Burst will automatically move up words. Already it touched nearly 932 sats may be next target more than 1000sats. It may happen within a month or so.
It will reach 1000 Sat by end of 2017
...
I am looking at the price of Burst in Poloniex, and your claim of reaching BTC.00001 by the end of this year is becoming harder to believe as the price is decreasing almost everyday. Can you tell us what you know that would propel Burst to fly over BTC.00001?
This article is hinting that you know something.
Quote
We do have a master plan and we’re in hot pursuit of it. We cannot even tell you (except hints) what our goal is. At least not yet, because you would not believe it and there is no one at the PoCC in the mood to convince disbelievers. It’s hard enough for many to swallow our 1000-2500 Sat prediction, so for the moment that’s a nice placeholder to have.
Some volume have started coming back in Burst showing that there are whales starting to buy in again. The buyers of the latest pump to BTC.00004 doesnt look like they will sell their holdings at this time, so Rico's forecast might hold true.
I am not as optimistic as him but my hopes are high. My own prediction is BTC.00005 per Burst by the end of 2017.
I am not as optimistic as him but my hopes are high. My own prediction is BTC.00005 per Burst by the end of 2017.
It will reach to more than 1000sats don't worry about it because once bitcoin settles the price of Burst will automatically move up words. Already it touched nearly 932 sats may be next target more than 1000sats. It may happen within a month or so.
It will reach 1000 Sat by end of 2017, but the reasons are completely different than what you lay out here.
The pump to 932 Sat was something ... not sure if orchestrated or by the oblivious market. In any case it had no foundation in anything BURST offered at that time. The infrastructure was broken, wallets had lots of potential security issues and - inevitably - got squashed away in the July spam attack, so that the exchanges had to halt BURST trading.
If you think about it, these 900+ Sat was completely oblivious and I tend to believe that's what markets are: completely oblivious.
In any direction, because as unjustified-high Burst was before the July attacks, as unjustified-low it is now.
Network is stable and robust as never before https://explore.burst.cryptoguru.org/tool/observe (percentage of valid nodes in July was like single digit...), we do have a true mobile wallet now https://play.google.com/apps/testing/org.icewave.burstcoinwallet, a better main wallet, easy-to-install for Linux users: http://package.cryptoguru.org/
And even for Windows-Noobs:
https://forums.getburst.net/t/windows-cg-burst-wallet-launcher-released-the-most-stable-wallet-for-windows-users/608
In general, for about 6 weeks, BURST is gaining tremendous development momentum. And it's not just another crypto. It is the only crypto using Proof-of-Capacity for mining (transaction confirmation). And no, storj and similar shit doesn't count.
So yes, BURST will reach 1000 Sat - I believe even rather quick by the end of 2017, because it is right now ridiculously undervalued (conservatively I would say it should hover at 400 right now) and should FOMO kick in - hell knows what price we may see.
I think it's time to buy BURST now and believe have great news in next few days
It will reach to more than 1000sats don't worry about it because once bitcoin settles the price of Burst will automatically move up words. Already it touched nearly 932 sats may be next target more than 1000sats. It may happen within a month or so.
It will reach 1000 Sat by end of 2017, but the reasons are completely different than what you lay out here.
The pump to 932 Sat was something ... not sure if orchestrated or by the oblivious market. In any case it had no foundation in anything BURST offered at that time. The infrastructure was broken, wallets had lots of potential security issues and - inevitably - got squashed away in the July spam attack, so that the exchanges had to halt BURST trading.
If you think about it, these 900+ Sat was completely oblivious and I tend to believe that's what markets are: completely oblivious.
In any direction, because as unjustified-high Burst was before the July attacks, as unjustified-low it is now.
Network is stable and robust as never before https://explore.burst.cryptoguru.org/tool/observe (percentage of valid nodes in July was like single digit...), we do have a true mobile wallet now https://play.google.com/apps/testing/org.icewave.burstcoinwallet, a better main wallet, easy-to-install for Linux users: http://package.cryptoguru.org/
And even for Windows-Noobs:
https://forums.getburst.net/t/windows-cg-burst-wallet-launcher-released-the-most-stable-wallet-for-windows-users/608
In general, for about 6 weeks, BURST is gaining tremendous development momentum. And it's not just another crypto. It is the only crypto using Proof-of-Capacity for mining (transaction confirmation). And no, storj and similar shit doesn't count.
So yes, BURST will reach 1000 Sat - I believe even rather quick by the end of 2017, because it is right now ridiculously undervalued (conservatively I would say it should hover at 400 right now) and should FOMO kick in - hell knows what price we may see.
Well it seems to get a little quiet here.
I bought 10k on 0.00000814.
Maybe it was a little bit to high at that time?
What do you think are we getting in one year?
I bought 10k on 0.00000814.
Maybe it was a little bit to high at that time?
What do you think are we getting in one year?
It will reach to more than 1000sats don't worry about it because once bitcoin settles the price of Burst will automatically move up words. Already it touched nearly 932 sats may be next target more than 1000sats. It may happen within a month or so.
Well it seems to get a little quiet here.
I bought 10k on 0.00000814.
Maybe it was a little bit to high at that time?
What do you think are we getting in one year?
I bought 10k on 0.00000814.
Maybe it was a little bit to high at that time?
What do you think are we getting in one year?
Really cheap still. I think we could be at 300 sat in a few days.
with most of the holders and supporters believe that the value still cheap big possibilities to reach that price next weekbetter to buy and hold and try to accumulate even more while the train is not yet done moving.
Right now holding and buying is the best option for Burst because still, there is a big chance that the price of Burst will increase to more than 1000sats at one stage. When compared to potential there many other things and chances are there to reach 1000sats.
Yeah I agree with you on this as Burst has been rock solid at around 600 sats now for a while and at any time can shoot up to 1,000 sats. Right now we are just mining Burst and not buying as we already have invested a lot of BTC into Burst and just want to mine for now but if the price does dip below 550 we'll be loading up on some more.
Really cheap still. I think we could be at 300 sat in a few days.
with most of the holders and supporters believe that the value still cheap big possibilities to reach that price next weekbetter to buy and hold and try to accumulate even more while the train is not yet done moving.
Right now holding and buying is the best option for Burst because still, there is a big chance that the price of Burst will increase to more than 1000sats at one stage. When compared to potential there many other things and chances are there to reach 1000sats.
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