A New Massive BURST Mining Operation To Hit the community Soon!
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@AdamGuerbuez we're waiting for the birth of this cute tiny lil baby of your Giant Burst machine...
I'm sure it would be the best day for most of us to buy the shares, and soon we're gonna see more "babies" to come to the Burst world, and yours is the firstborn Nephilim of Burst.
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Gonna look pretty silly with all those hdd when burst crashes to nothing but I am sure there is plan B besides hdd sell good.
Explain to me how a massive mining operation helps me. I am also a part of the community!I helped the community by making a pool. I am not getting rich and might just might cover cost. I am giving more to the miners to invest in the burst system. I am not taking away from anyone unless you do this for profit. So 2 farms planned what does this mean to me? It means I will have to close cause 1 block a week will not satisfy 255 miners. It will force other pools to close too Where does this end? 2 mining farms to invest in period. Then Burstcoin turns into a investment coin cause its not minable! How many people will you lose? Burst had such potential. lol What the heck is the purpose of mobile mining?
Greed I see nothing but Greed!
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@tross i agree with some of this.
ive been developing the pool software for about a month and aiming for a public release however if the difficulty rises so much where the pool is no longer paying for itself (as i pay for hosted services to run it) ill have to stop. as it would get to costly to even consider hosting a pool. currently i'm down on burst due to a giveaway to attract members, and payments for the hosted vps so currently its only just getting by.
@samreader1 whilst you are right. i'm also guessing that all the burst that is currently going to buy this new hardware is going to have to be converted to bitcoin at some point meaning its going to be sold on the market and a PB farm isn't cheap.
so technically it could be a double whammy. and with the way the value of burst is dropping its going to cost more and more burst to fund this operation.
i bet once all the coins have been mined and we are mining just fees, i could imagine that a PB farm would no longer be cost effective.
unless burst can gain a lot of interest between now and when this happens that might change.
however a PB farm mining on average 10-50 burst per block (transaction fees) isn't going to pay the people who invested as much.
in total theirs 523,785,123 burst left. valued at today's price that's only $279,177.47
as $25,000 has been invested in this asset that's a whopping 8.95% of the total value of burst left to mine. spent on a miner. meaning this miner would have to mine at least 9% of whats left to make back what's been invested. and this doesn't include the percentage the asset issuer will take and that's at today's price.judging by the calculator a PB will bring back 1,163 USD per month. meaning it will take at least 24 months to pay the investment back. and during these 24 months. the block reward will have dropped by 5% 24 more times. so the actual time to pay back such an investment would be far greater than this.
[EDIT]
Below are a few graphs detailing this Including 5% drop in reward
USD Cumulative Total Over Time based on 5.33 per 10k

Total Burst/Month Including 5% drop in reward

the above also doesnt account for increases in difficulty, Transaction Fees, and change in the value of burst.
but it shows it will take 16 years for it for ROI. unfortunately though threes only about a year or two left of mine-able burst. obviously if burst goes up in value this changes things.also the power cost of this isn't factored in. typically drives operate at between 3-9W times that by 100 drives. your running 900W.
900W over 16 years? that sounds like a fortune to me
but i could be looking at this the wrong way i guess.
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I think, @crowetic will be the correct person to respond @tross & @Lexicon point of view....
As a newbie in Burst-world, I'm only enjoying the progress of Burst, while at the same time keep investing in Burst-assets.
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That was just an negative view. In pool operator terms you can look at this another way then its not so bad.So like grandpa said you have to play it by ear!
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I hope if this is going to come true, let it operate its own pool so that all of us can jump in and leech the earnings from this monster farmer. Smaller pools will die, that's a fact. Unless burst value goes 2000x, it's not a mineable coin in the future.
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@jervis however when you take into consideration the size of the miner compared to everyone else its doubtful that the miners would get much. and if you take a look at the post i edited above. that graph only accounts for solo mining. so in other words if they joined a pool. the investment would return even less.
if this project was done from day one. it would probably be a different story but doing this now probably causes more issues than its worth.
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@Lexicon well, it's better than these monster of a farm goes solo. Then, pool miners will only get real scraps. I think this is the time where people should think of using burstcoin for other things outside of crypto. If we can't mine them well, then let's use the coin and make its value higher. Real world application is needed by this coin.
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@jervis said in A New Massive BURST Mining Operation To Hit the community Soon!:
@Lexicon well, it's better than these monster of a farm goes solo. Then, pool miners will only get real scraps. I think this is the time where people should think of using burstcoin for other things outside of crypto. If we can't mine them well, then let's use the coin and make its value higher. Real world application is needed by this coin.
I completely agree with you... I now look at mining as a good way of supporting other projects like Real World applications! And i don't have a shadow of doubt that Real World applications are the future of BURST !!!
@tross and @Lexicon the only way of minimizing the negative aspects you guys are talking about is that @AdamGuerbuez and @Focus spread their miner into a lot of pools... This way they will won less per block but they will be winning BURST everytime anyone mines a block and for everyone else could be good because even if they mine less blocks, they will be winning more historic shares with more frequent blocks... This could be a way of making pools bigger at the same time as this BIG rig will be more decentralized (in order of one pool is down they will have all the others up and running besides the point that if they cover all pools they will be winning BURST in every block except the ones that are mined solo)... I guess only @AdamGuerbuez and @Focus can share their thoughts on this!
@Lexicon regarding to the eletricity costs i know @crowetic was seeing some warehouses that already have eletricity costs included in the rent so in that case eletricity costs are not a problem to him, idk if Adam and Focus have a similar deal to this or not...
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@jervis I agree thats how you help Burst! Give it a mission! He only talk of mining operation not mining pool so it seem we are investing into his mining operation which is solo. Burst at these prices dont know if its such a good idea. If he was mining something else with his massive mining operation and paying out in Burst now that would stimulate the burst economy.
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@gpedro lol crowetic is in Nevada where the sun shines all the time. I bet the warehouse has a solar farm too.
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@gpedro I am not that keen on these big farms either, it's very straightforward, the bigger the network the smaller the returns for a given number of TB.
However..... let's put this in perspective. Back in Mach the network hit a low of around 4PB, network grew solidly from there and when the anonymous "Group" of miners with 1PB hit in September we peaked around 10PB. Since then we have dropped as low as 5PB and are currently around 12PB.
So you could say that an additional 1PB from "A Massive BURST Mining Operation" is only going to reduce income by 1/10, and is no more than the variance we see from other events that we know nothing about.
What would be good to know is weather this miner is going to be solo, or on their own Pool or spread around all the pools? Although however it is distributed will have no effect on the long term Burst you will mine with an amount of TB....
Rich
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@tross IDK if it's the case but he said something about the owner of the warehouse give him big flexibility in the eletricity costs so i guess that could be the case xD
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we have several miners right now with over 400TB and lots more in the 100-300 TB range that have been and are Mining right now ... all this rig will do is up the difficulty a little and with the other large rig mentioned by @crowetic it will secure the network a lot with some difficulty boost same thing would happen if we have 100 new poeple join in the next month and add 10TB each witch could vary easy happen.... the only down side i can see from this is if all of the Big rig's team up in a single pool , it would cause that pool to have an unbalanced amount of blocks found and force pools with small amounts of total TB to fold and consolidate........ so as long as all of the 200+ TB rigs spread out among the varrious pools and keep a sort of ballance betwen them i see this as a good thing.
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as far as mining its nice to have an anchor rig in a given pool ( that big guy at the top you all love to hate ) because they will find more blocks than you and in effect cause your pool to find more blocks , as long as the pool payouts are fair this allows even small miners to collect burst even small amounts at regular times , what the community really needs right now is for word to spread global about the android mining app and fill our pools with loots of less than 1TB miners to offset the large rigs coming online. diversity is best and will prevent a centralised consolidation of network power. would love to see a few youtube videos promoting android mining go viral
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@Gibsalot most of the time those big ass farms go solo ergo nothing for pool (they get more than being in pool)
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@LithStud true, and that is a problem when you have some solo miners out there with more network power than entire pools it more profitable for them to go solo and keep the pot than pool mine and share in the split of more blocks found, we have 3 or 4 new pools that have come online in the last month or so that have dedicated people behind them to make the network stronger , the problem is the total # of miners , most have been around for a wile and found a pool they like and are sticking with it. and not enough miners to fill the new pools to make them functional atm. our network should look like a pyramid a few big rigs at the top and each TB level down should have more and more individual people mining.
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@tross and @lexicon have a solid point. giant solo mining operations hurt the the community, regardless of whether its offered as an asset.
@jervis said in A New Massive BURST Mining Operation To Hit the community Soon!:
Real world application is needed by this coin.
Thats for sure!
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Why complain about someone who risks a shitload of his own money to support the Burst project, you should be thanking them. I respect having the balls to set up a mining operation, and I wish more people would do it. You cannot all expect to have the biggest piece of the cake without having done anything to deserve it. It doesn't work that way, but we all get something for contributing to secure the network and process transactions by mining. If you believe in Burst as much as I do, you know that you will be rewarded handsomely even if you only mine 1 coin per month. Think about it, if Bitcoin is worth 747 USD per coin right now, would not your measly 1 coin per month be worth a small fortune even if Burst only reaches half the value of Bitcoin? Don't risk looking like a total idiot in the future for complaining about low mining income today. And don't get me started on how much extra money you could be making in assets with your mined coins or the surfbar.
Just try to imagine how many TB that will appear on the network when people from lots of different countries all across the world start mining with 120 GB each or less using their smart phones, and then in addition you get lots of people joining in with a few TB each on their computers. This is just the beginning. We had over 3000 new wallet downloads last month (http://burstcoin.biz/charts/new-wallets-per-day), that's 3000 potential new miners who will contribute to the network, and with all the development going on with Burst, there is no reason why these numbers should decline, and why the network shouldn't grow.
As Burst becomes more popular, new farms will appear, but because it takes technical finesse and dedication to build and manage a sizeable farm, most people will settle for plotting a few HDDs and use their phone too. Since these are still "early adoption days", big farms can temporarily shift the power balance, but in time there will be an equilibrium when our population grows. The same cannot be said for Bitcoin because of the nature of the POW algorithm, which only favours those with huge ASICs that have free power. Burst and POC is distributed, green as hell, costs fuck all to mine and all of you already own the mining equipment. Nuff said.






