Is burst coin dead?



  • I like the idea of burstcoin, it takes advantage of the security of mining but with much less energy cost. However, since I got interested in it took more than a week to get my hard drives prepared to mine it and a week after I started mining I haven't mined even a single coin. I probably should join a mining pool but frankly I tried and had problems which I shouldn't have to deal with. And why do I have to beg for a coin to make the system work? That's rediculous...

    1 coin is worth about 200 satoshi, aka nothing, and there are almost 2 billion of them already circulating. So if I manage to mine a coin its worth about 1 cent. I suppose I could just buy some, but why bother? It's not useful. I think this coin is already dead.

    I think this proof of capacity is obsolete. Proof of stake has taken over. Of course there are problems with PoS too but at least it doesn't waste hard drive space...

    All I see in this forum is new miner, new miner, new miner. But what is the point of mining a coin that nobody uses for anything except mining?



  • Well, you could mine it, then sell it on the few Exchange its listed for Bitcoin, Eth, Ripple or whatever - thats what everyone else does anyway.

    Then you can spend it on some shitty Casino run by the BN.

    And then, well.. dunno.



  • @Marc , you don't have to beg for coins. Go to Polinex or Bittrex and buy a couple hundred thousand Burst for a fraction of a BTC, you'll be set to go.



  • @MorganDoel3 How much HD space are you using? Unless you have a pretty decent size committed to mining I wouldn't solo mine. I'm on 42 TB and have never mined solo. (Insert shameless plug for the newly-rebooted falconburstpool.xyz:8080 here ;P )

    And as far as having to use a coin to set yourself up I like that feature because I've met a lot of new miners and had an opportunity to welcome them and help them get started because of it. I doubt that was the intent of the design but I like how it kind of forces you to say hi unless you go the faucet route. That's just my opinion though :)





  • One simply doesn't mine solo without hundreds of terabytes of storage these days.



  • @ZapbuzZ said in Is burst coin dead?:

    One simply doesn't mine solo without hundreds of terabytes of storage these days.

    That's the problem isn't it? Big miners control the coin (and still make very little), and small miners fight to make 10 cents a day. Cost of electricity for a small miner running a couple external drives fights to break even.

    Is the coin dead? I believe it is. I am still mining for the time being with the hope that maybe the price goes up, but as each day goes by I believe more and more the coin has little future. I am mining 20TB in a pool and average 40 burst per day -that's 38 cents. Abysmal. The price of burst has been pumped and dumped enough times people are wise to what's happening, further the dev team is a joke and known to be run by unsavory characters. Its reputation is in the gutter.

    It's all too bad. The coin would have been much stronger had smaller miners (say under 50TB) been able to make more and have more of a stake in the coin. It seemed like it was a good coin to mine, but things change.

    On the bright side I have hung on to my bitcoin and feel pretty good right about now. I would never ever invest bitcoin for burst as suggested above.



  • @ScreamIndevnull Maybe it would be good to do things and not wait for the burst alone.
    In the last 7 days with 8.2TB I have an average of something more than 40 burst and on a PC with which I am undermining ETH with the GPU and right now I am watching this video

    .

    As in all currencies alone mining with increasing difficulty is no longer profitable for small miners.

    To be dead I believe the price has increased by 100 satoishi in the last days.

    When I started here, if I remember correctly, 10.000 burst had a value of 6 dollars or something, and today 1000 have a value of almost 10 dollars, may not be profitable for you but from there to be dead is a lot





  • @ScreamIndevnull I mine with solo with 63TB and i forged 5 blocks in the month time which is around 8k burst.At current prices it is around 100$. I know there is a chance that in the next month I will forge null but taking in consideration how much energy hdd are taking i would say i still have profit.



  • i think that given the popularity of Burst newcomers need to decide to either invest in a proper multi terabyte rig or just have a plot on the desktop running in the background like a lottery if your lucky to win a block you win kind of thing. Mining isn't the only way into burst multiverse one can invest in shares and build a hedge fund. Money can be exchanged into burst using exchanges. Also, no ones stopping people front putting up store fronts and other vendor like activities look at where bitcoin has gotten.



  • @Yottaphat
    I have only 20TB, so there's a strong chance I could solo mine for a month and not win any blocks. I'm too concerned about that to be honest, I don't mind being in it for the lottery but I don't think it's even working at all because I keep getting errors like - passphrase does not match reward recipient, and if I mine in a pool there is no output in the console so no way to tell if its set up right or doing anything at all...
    I followed the guides exactly but that wasn't enough to get it working.
    Mostly I'm just frustrated because this coin is not as good as I thought it would be.



  • @Energy
    Good to see some stuff happening. Hopefully burst can make a comeback. Anyway, looks like all cryptocurrencies are dead today...



  • @MorganDoel3 two things, all the coins are coming down today but that does not mean that they are dead.
    Solo Mining is not profitable in any currency unless you invest a lot of money.

    With 20 TB that is about 700 dollars, if we spend that in GPU and want to solo mine bitcoin we would not find a block in life and I think ETH we would not find any block

    There are more than 1000 coins and almost none have services associated with that coin, even bitcoin if we remove the casinos, ponzis, faucets there are not so many services dedicated only to bitcoin, another thing are the stores that have added bitcoin as a system. payment, these already existed.
    It is not my intention to compare the bitcoin with the burst since the bitcoin has the advantage over all the coins that has been the first one.

    The other thing is about the error you say it gives you, if you have that error is that the configuration is wrong



  • @ZapbuzZ i disagree i mine with just 1,7tb of free space i have in my media center ive made just under 400 coins in a few months ( honestly dont know how many months beteen forks and pools being down )

    i have bought into an asset looking at a second one now and am looking to contribute to the burst community in my own way

    burst has alot of potenital if we can get threw the morons ddos us and the thives there are bugs to be worked out sure but if people want a quick buck and not have to hold on to a coin and roll the dice on it becoming valuable then perhaps a more established coin is for people

    me i like the people here ill invest in more space and if the coin does fail god forbid then ill find a use for any space it frees up

    im sure im not the only person who feels this way

    just tired of the people coming here complain they have to be a super miner or the Burst is dead comments if you feel these way then move on and let us do our thing and waste our own time and money if we chose to

    rant over probily went alittle off subject also



  • @Duncanvalen33 all i can say is if one isn't satisfied with payouts one must make more plots. I have 18 tb but i know its small now so I've decided to extend.



  • @Energy said in Is burst coin dead?:

    @MorganDoel3 [...]

    With 20 TB that is about 700 dollars, if we spend that in GPU and want to solo mine bitcoin we would not find a block in life and I think ETH we would not find any block

    OK let me put some real perspective here. Today you could buy 3 - GTX 1060 3GB cards. You could mine using nicehash and make $5 per day (I know because I mine with a number of them. Cost of electricity would be 7.5 KW/h per day, which for me would be $1.15 per day. Net profit of $3.85 roughly.

    Mining 20TB of burst on one of my machines earned 48, 28, 36, 31, and 46 burst. That averages 53 cents per day at today's price.

    How exactly is that a good deal?



  • @ScreamIndevnull said in Is burst coin dead?:

    @Energy said in Is burst coin dead?:

    @MorganDoel3 [...]

    With 20 TB that is about 700 dollars, if we spend that in GPU and want to solo mine bitcoin we would not find a block in life and I think ETH we would not find any block

    OK let me put some real perspective here. Today you could buy 3 - GTX 1060 3GB cards. You could mine using nicehash and make $5 per day (I know because I mine with a number of them. Cost of electricity would be 7.5 KW/h per day, which for me would be $1.15 per day. Net profit of $3.85 roughly.

    Mining 20TB of burst on one of my machines earned 48, 28, 36, 31, and 46 burst. That averages 53 cents per day at today's price.

    How exactly is that a good deal?

    When you tell me that this has to do with mining alone I answer you.

    Is that if I talk to you about cars and you talk to me about planes we do not get anywhere



  • okay so to summarize ,what i am getting out of this,
    Burst is like a car and Ethereum is like a plane, but the planes hash power runs on electricity, which is expensive and is going to crash into the tiny car.

    pretty sure that was the gist of it.!



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