Why are people still investing thousands of dollars?
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The 5% are substracted from current/last block reward, so it is not 60% a year ... too late to do exact math here right now :-)
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@luxe ah, yes my bad it's negative compounded got it yup I understand
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So to be honest there is still a chance to mine Burst for 5 years and have profit from it?
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@pr0cesor said in Why are people still investing thousands of dollars?:
So to be honest there is still a chance to mine Burst for 5 years and have profit from it?
From what I have heard people believe mining will stop at year 2029, profitibility will still probably be there just not as much
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@mathew said in Why are people still investing thousands of dollars?:
@pr0cesor said in Why are people still investing thousands of dollars?:
So to be honest there is still a chance to mine Burst for 5 years and have profit from it?
From what I have heard people believe mining will stop at year 2029, profitibility will still probably be there just not as much
I see, I don't seek to have a crazy profit to buy a house or be a rich guy but I would not mind having few hundred box in my wallet every month just from mining. So I guess still 2017 is a good start for amateurs like me, I guess it's not too late to play around and have some little profits :)
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@mathew Well to be precise mining will never stop as long as there are miners and transactions on the blockchain. Profitability can be lower, same or higher, depends on network difficulty, mass adoption, and Burst price :)
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@Gadrah_ said in Why are people still investing thousands of dollars?:
@mathew Well to be precise mining will never stop as long as there are miners and transactions on the blockchain. Profitability can be lower, same or higher, depends on network difficulty, mass adoption, and Burst price :)
Lets say we rich 2022 and some people will crush away from mining, will they come up with another currency that we could mine from Storage Drivers? I heard storage drive mining is the future of all digital mining since BTC and other coins are mined on CPU/GPU or ASIC.
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@pr0cesor said in Why are people still investing thousands of dollars?:
@Gadrah_ said in Why are people still investing thousands of dollars?:
@mathew Well to be precise mining will never stop as long as there are miners and transactions on the blockchain. Profitability can be lower, same or higher, depends on network difficulty, mass adoption, and Burst price :)
Lets say we rich 2022 and some people will crush away from mining, will they come up with another currency that we could mine from Storage Drivers? I heard storage drive mining is the future of all digital mining since BTC and other coins are mined on CPU/GPU or ASIC.
I am guessing there will be multiple coins in the future that will be created to be mined on storage once they see how large burst has become, I just hope I see the coin before everyone else and mine it!
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@pr0cesor Just think about it this way : the few hundreds coins you make today may be worth pennies right now, but what if the price of Burst goes up 10, 100, 1000x ?
If we manage to become one of the major cryptocurrencies on the market, no doubt others will appear and use the PoC algorithm. But when this time comes, we'll be established and hard to knock down :)
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@pr0cesor Well, i expected more hdd coins to show up already :-) But it did not happen yet ...
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There are always people like us who don't mine but invest in the assets who will also bring up the value of BURST accordingly..
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@Gadrah_ said in Why are people still investing thousands of dollars?:
@pr0cesor Just think about it this way : the few hundreds coins you make today may be worth pennies right now, but what if the price of Burst goes up 10, 100, 1000x ?
If we manage to become one of the major cryptocurrencies on the market, no doubt others will appear and use the PoC algorithm. But when this time comes, we'll be established and hard to knock down :)
Yeah that's why I think too that storage drives mining can be the future for other coins. How long did the Burst mining start? in late 2015? Still fresh new baby, I hope it will grow well too.
@mathew said in Why are people still investing thousands of dollars?:
@pr0cesor said in Why are people still investing thousands of dollars?:
Lets say we rich 2022 and some people will crush away from mining, will they come up with another currency that we could mine from Storage Drivers? I heard storage drive mining is the future of all digital mining since BTC and other coins are mined on CPU/GPU or ASIC.
I am guessing there will be multiple coins in the future that will be created to be mined on storage once they see how large burst has become, I just hope I see the coin before everyone else and mine it!
I found Burstcoin mining by accident just by surfing YT. I never though that storage drives mining is even possible, when I heard about this I was excited, the most excited thing I've heard since BTC mining.
@luxe said in Why are people still investing thousands of dollars?:
@pr0cesor Well, i expected more hdd coins to show up already :-) But it did not happen yet ...
It's a good thing right? :D I mean lets first milk Burstcoin and then other coins that will come xD. Well at least I will not be late for the other coins if they would start to exist :D
@qibucks said in Why are people still investing thousands of dollars?:
There are always people like us who don't mine but invest in the assets who will also bring up the value of BURST accordingly..
I will jump into those Assets later on, something that is interesting as well.
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@pr0cesor lol .. well you can only milk a cow, if you maintain and feed it ...
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@luxe said in Why are people still investing thousands of dollars?:
@pr0cesor lol .. well you can only milk a cow, if you maintain and feed it ...
How hard is it really to create the coin based off of storage mining besides marketing and advertising it?
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If it's like bitcoin create a clone is easy and you tell someone who does not know how to program, now if you want to do something that even being a clone of this contribution new things same is no longer so easy
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@mathew for burst all the mining and plotting tools and pools had to be developed for example ... you could not just add another algo to e.g. sgminer.
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And how many Burstcoin has been mined exactly as today? 500 mil coins seems to be small regarding the fast growing miners hahahahaa
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@pr0cesor said in Why are people still investing thousands of dollars?:
And how many Burstcoin has been mined exactly as today? 500 mil coins seems to be small regarding the fast growing miners hahahahaa
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@mathew heh I was hoping to see something less than almost 80% .... :/




