Tried this for a few days. Calling it quits.



  • After about 4 days trying this out, i wanted to give the community some feedback.

    A little about me, I am in my early 30s with 80k a year salary. I have been investing in stocks for a while and recently got into crypto. Litecoin and Antshares are where I have slowly been accumulating. I like to think that i am casual retail investor. I saw this on youtube and thought the concept was interesting and worth a look.

    I originally liked the idea of this coin especially the use of the HDD. I wasn't certain of its future, however I wanted to think it would be much easier for a casual person/investor to get involved with. Unfortunately the last few days have been a disappointment.

    There was a video sign up and start mining in 11 minute from the burst team. Looking back at it, i think it is a good reflection with my experience. Great idea but poor communication. This is a very important thing and no one can understand what you are saying. This has been my experience. "Poor communication from within the community."

    A few things to note:

    Windows Client:
    Simply logging in - It was frustrating getting the "page not displayed" error or logging in the online wallet to see my account at 0 and blockchain downloading. Due to the lack of stability, I almost gave up on this coin just because of this experience.
    Getting your first coin: I like the idea of faucets, but they are 99% empty and when i finally found one with coins, It said i already got my free coins. I was forced to be a beggar on the forums.

    Plotting:
    CPU plotting is simple and i like the integration of it within the client. However, this process is painfully slow as i tested this with a small 1tb. This in itself is not a complaint, but to the casual person it is discouraging especially if you have more than 1 TB
    GPU plotting: On paper this sounded like a faster way of doing things, however this is where i wanted to pull my hair out. I just spent the last 3 hours trying to figure this out, why is this so difficult? There is a distinct lack of user friendly knowledge as a previous user stated. These guides are not meant for the casual person. I have found that references to programs made within tutorials provide either bad links, links to a mismatch of software, or no links at all. Some do provide proper links but do not explain the use of them properly. The latest video i just watched was from "imineblocks" the link referenced a zip file that had different files than in the video. I couldnt follow along and he got technical right away so i said im done.

    Considering the only alternative is CPU plotting, It was at this point i decided that I cant continue with this experiment.

    Few suggestions
    Emphasis on "How To" documents/videos being current and newbie friendly. To often i noticed it gets way too technical right away. Tone it down otherwise you will limit new miners/users

    Marketing? What is the future here? Personally i see that the limited community of miners will be your entire user base. Expansion is necessary.

    In conclusion , I currently do not consider this a viable financial investment. The community should focus on expanding their reach outside of your bubble. You all speak the same technical language but do not provide an avenue for newbies to learn and embrace it. Considering the total coins left to mine is only 16% i believe you have a small time frame to attract investors/users. I wish you luck and will occasionally take a look at it.



  • @DankMeme said in Tried this for a few days. Calling it quits.:

    After about 4 days trying this out, i wanted to give the community some feedback.

    A little about me, I am in my early 30s with 80k a year salary. I have been investing in stocks for a while and recently got into crypto. Litecoin and Antshares are where I have slowly been accumulating. I like to think that i am casual retail investor. I saw this on youtube and thought the concept was interesting and worth a look.

    I originally liked the idea of this coin especially the use of the HDD. I wasn't certain of its future, however I wanted to think it would be much easier for a casual person/investor to get involved with. Unfortunately the last few days have been a disappointment.

    There was a video sign up and start mining in 11 minute from the burst team. Looking back at it, i think it is a good reflection with my experience. Great idea but poor communication. This is a very important thing and no one can understand what you are saying. This has been my experience. "Poor communication from within the community."

    A few things to note:

    Windows Client:
    Simply logging in - It was frustrating getting the "page not displayed" error or logging in the online wallet to see my account at 0 and blockchain downloading. Due to the lack of stability, I almost gave up on this coin just because of this experience.
    Getting your first coin: I like the idea of faucets, but they are 99% empty and when i finally found one with coins, It said i already got my free coins. I was forced to be a beggar on the forums.

    Plotting:
    CPU plotting is simple and i like the integration of it within the client. However, this process is painfully slow as i tested this with a small 1tb. This in itself is not a complaint, but to the casual person it is discouraging especially if you have more than 1 TB
    GPU plotting: On paper this sounded like a faster way of doing things, however this is where i wanted to pull my hair out. I just spent the last 3 hours trying to figure this out, why is this so difficult? There is a distinct lack of user friendly knowledge as a previous user stated. These guides are not meant for the casual person. I have found that references to programs made within tutorials provide either bad links, links to a mismatch of software, or no links at all. Some do provide proper links but do not explain the use of them properly. The latest video i just watched was from "imineblocks" the link referenced a zip file that had different files than in the video. I couldnt follow along and he got technical right away so i said im done.

    Considering the only alternative is CPU plotting, It was at this point i decided that I cant continue with this experiment.

    Few suggestions
    Emphasis on "How To" documents/videos being current and newbie friendly. To often i noticed it gets way too technical right away. Tone it down otherwise you will limit new miners/users

    Marketing? What is the future here? Personally i see that the limited community of miners will be your entire user base. Expansion is necessary.

    In conclusion , I currently do not consider this a viable financial investment. The community should focus on expanding their reach outside of your bubble. You all speak the same technical language but do not provide an avenue for newbies to learn and embrace it. Considering the total coins left to mine is only 16% i believe you have a small time frame to attract investors/users. I wish you luck and will occasionally take a look at it.

    Some feedback for you:

    I think you make some good points about keeping things simple (the old adage KISS)... crypto in general is reaching the mainstream and for BURST to capitalize it always helps to dumb things down.

    That being said... I bet I'm less tech savvy than you... if someone asked me a few months ago which is bigger a gigabite or terabyte... well I had a 50/50 chance. Yet, with a little effort I was up and mining and buying BURST on polo. There was some learning curve but I actually found it easier than exoected... maybe I saw different videos than you?

    The decentrailized nature of crypto and the newness of it is nothing like the stock market. I've read posts for months now doubting BURST's potential. Nothing is perfect ... and if investing was obvious/easy everyone would be rich. The BIG opportunity on any investment is before it is obvious to the mainstream ... Apple in 2017 is a different animal than Apple in 1981 (no I'm not making a direct comparison to BURST).

    So far I'm up more than 30x... and cashed out a small % close to what you reference is your annual salary... :) BURST has some warts no question... but still think it's got huge potential if you look at the big picture.

    Good luck to you.


  • admin

    @DankMeme said in Tried this for a few days. Calling it quits.:

    After about 4 days trying this out, i wanted to give the community some feedback.

    A little about me, I am in my early 30s with 80k a year salary. I have been investing in stocks for a while and recently got into crypto. Litecoin and Antshares are where I have slowly been accumulating. I like to think that i am casual retail investor. I saw this on youtube and thought the concept was interesting and worth a look.

    I originally liked the idea of this coin especially the use of the HDD. I wasn't certain of its future, however I wanted to think it would be much easier for a casual person/investor to get involved with. Unfortunately the last few days have been a disappointment.

    Burst has a learning curve, but once you grasp the fundamentals it all makes sense.

    There was a video sign up and start mining in 11 minute from the burst team. Looking back at it, i think it is a good reflection with my experience. Great idea but poor communication. This is a very important thing and no one can understand what you are saying. This has been my experience. "Poor communication from within the community."

    A few things to note:

    Windows Client:
    Simply logging in - It was frustrating getting the "page not displayed" error or logging in the online wallet to see my account at 0 and blockchain downloading. Due to the lack of stability, I almost gave up on this coin just because of this experience.

    If you were using the online wallet the "not available" was due to some assholes trying to shut me down, and DDoSing my servers. Run a local wallet and you're fine - if fact, you don't even need to be able to contact a wallet to be able to mine.

    Getting your first coin: I like the idea of faucets, but they are 99% empty and when i finally found one with coins, It said i already got my free coins. I was forced to be a beggar on the forums.

    I've contributed over $4,000 worth of burst to my faucet, the rest of the community needs to step up and help out faucets, and assholes need to stop abusing them.

    Plotting:
    CPU plotting is simple and i like the integration of it within the client. However, this process is painfully slow as i tested this with a small 1tb. This in itself is not a complaint, but to the casual person it is discouraging especially if you have more than 1 TB

    That is odd, I'm currently CPU plotting 340TB of disk, and aren't having any issues.

    GPU plotting: On paper this sounded like a faster way of doing things, however this is where i wanted to pull my hair out. I just spent the last 3 hours trying to figure this out, why is this so difficult? There is a distinct lack of user friendly knowledge as a previous user stated. These guides are not meant for the casual person. I have found that references to programs made within tutorials provide either bad links, links to a mismatch of software, or no links at all. Some do provide proper links but do not explain the use of them properly. The latest video i just watched was from "imineblocks" the link referenced a zip file that had different files than in the video. I couldnt follow along and he got technical right away so i said im done.

    Download gpuplotgenerator, run "gpuplotgenerator setup", select option 0. Make a note of your GPU platform/device. Enter that info into jminer.properties, plot/mine.

    Considering the only alternative is CPU plotting, It was at this point i decided that I cant continue with this experiment.

    Few suggestions
    Emphasis on "How To" documents/videos being current and newbie friendly. To often i noticed it gets way too technical right away. Tone it down otherwise you will limit new miners/users

    My suggestion - run into a road block? Ask the community what's going on. There are more than 6,000 users here that are willing to help you and resolve any issues you're having.

    Marketing? What is the future here? Personally i see that the limited community of miners will be your entire user base. Expansion is necessary.

    These forums are expanding currently by 100 users/day. With peer networking and word of mouth marketing, that rate is going to continue to accelerate,

    In conclusion , I currently do not consider this a viable financial investment. The community should focus on expanding their reach outside of your bubble. You all speak the same technical language but do not provide an avenue for newbies to learn and embrace it. Considering the total coins left to mine is only 16% i believe you have a small time frame to attract investors/users. I wish you luck and will occasionally take a look at it.

    You have a short future view, and are seriously mistaken about this coin, I mis managed my personal holdings, but there are significant earnings available in this coin.

    But if you're done with us ..... :waves:



  • @DankMeme , I will say I felt the same as you when I first was introduced to Burst. There are many posts from me on this forum that sound like some of your points. That being said, in spite of the lack of documentation and techy info, I persevered and I feel I have a pretty good handle on what is going on here. I limited my frustrations by using the software/hardware that worked for me. GPU miner, CPU plotter, USB drives, Win10 desktop computers. I don't use the All in One wallet for plotting/mining. Standalone wallets, bat files for plotting. Many here have helped me and I like to think I have contributed as well, @haitch has been over the top helpful, with any and all questions, he never says no. Not sure how he does it :)


  • admin

    @rds said in Tried this for a few days. Calling it quits.:

    @haitch has been over the top helpful, with any and all questions, he never says no. Not sure how he does it :)

    I'm a New Zealander - we don't know the word "no". ;-)



  • @haitch said in Tried this for a few days. Calling it quits.:

    I'm a New Zealander - we don't know the word "no". ;-)

    You give me $ 100,000 ,)


  • admin

    @Energy Okay, when 1 Burst = $1,000,000 :-)



  • In this forum there is everything, I do not win 80K is more I am out of work, I have never invested in stock market, I do not dedicate to the computer my professional sector is the construction, I do not have university studies since I start to work very young, I hardly understand English, and here I am more than 6 months ago.
    And if at first it might be complicated but using the forum finder well and asking some questions I have come forward.
    If I could you can



  • I feel you, have the same experience when starting with Burst. For a couple of weeks I have a lot of frustration setting up all these procedures but nothing works or , so i stop for a month or two. After that I started from the beginning and slowly I find a way or the easier way to make it work for me.

    1. I ditch the local wallet/AIO and use the online wallet
    2. I dont use the GPU Plotter and use CPU plotter instead (wplotgenerator+plot oprimizer) but now we have Xplotter which is way better.
    3. never run a GPU miner and use the CPU miner instead (Blago's or Creepsky).

    Been bursting for half a year since.



  • I've spent $165.45USD in hdd's, 2 x HGST Ultrastar A7K3000 HUA723030ALA640 3 TB 3.5 inch Internal Hard Drive-SATA/600-7200 rpm-64 MB, 1 x HGST/Hitachi (HUA723020ALA641) Ultrastar 7K3000 2TB 64MB 7200RPM 3.5" (Enterprise Grade) SATA III 6.0Gb/s Hard Drive.

    http://burstcoin.biz/address/2903638921227146731
    First transaction 2017-05-03 15:34:54 (1 month)

    Total Received 3,502.70 Burst

    In one month I've made $61.12USD, exclude a few from faucet to start up, exclude 1,486.22 Burst from a fluke "ghost block". Making 2016.48 burst = @0.00000700 BTC = $35.19USD based off of bitstamps BTC price https://bitcoincharts.com/markets/bitstampUSD.html

    Yea, so, it will take me 4 months and 7 days to get my money back that I spent on HDD's. Now this is not including the rise of difficulty.

    Rise in difficulty lets say it get doubled, it will take 9 months and 4 days to make the money back I spent on HDD's.

    I making a point here that running a PC 24/7 for electric costs + price of HDD's is a loss with burstcoin.

    Sure if you already have 1PB that came out your ass, sure you make good money.



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  • So, I see where OP is coming from.



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  • Hell, if I decide to quit, I have a lot of storage in the long run. Which more storage is good.

    All I would have to do is add in 2 more hgst 3 TB hdd's above and raid 1+0 them https://en.wikipedia.org/wiki/Nested_RAID_levels#RAID_10_.28RAID_1.2B0.29

    win win I guess. Use it for steam games, OS image backups, cell phone OS image backups, what ever needed to backup.



  • My power company charges $0.1362 per kWh. Good thing I have a killawatt meter I bought back in the days of bitcoin mining and or beginning of litecoin mining.

    This is PC up and running and mining Burst of 7800GB
    alt text

    So I decided to pop in my killawatt meter :D

    Just running my pc:
    alt text

    Starting up blago's miner with 7800GB.
    alt text

    Blago's miner idling
    117w-120w
    Every burst of reading of my HDD's I just sat and watched, hit max of 211w on my killawatt meter.

    Now, I really don't know how to factor in 0.02kWh to 24 hours 7 days a week 4 weeks a month @ the cost of $0.1362 per kWh by my power company.

    Maybe a Albert Einstein here can figure it out for me?

    Kinda hard to determine when a blago's miner reads at w/e time to calculate total wattage a reading takes in 24 hours 7 days a week 4 weeks a month.

    Edit:
    Might as well factor in ISP costs, $85USD a month.



  • @Hitti2 said in Tried this for a few days. Calling it quits.:

    Now, I really don't know how to factor in 0.02kWh to 24 hours 7 days a week 4 weeks a month @ the cost of $0.1362 per kWh by my power company.

    If we assume your PC is taking 200W then that is 0.2KW

    Cost / Hour is 0.2 x $0.1362 = $0.02724
    Cost / Day is $0.02724 x 24 = $0.65376
    Cost / Month is $0.65376 x 4 = $2.61504

    Rich


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