I just got a response that Burst will be added to Bitsquare in the next release!
Thanks to @Dworf who came up with the idea to reach out to them: (https://forums.burst-team.us/topic/1602/add-burst-to-the-bitsquare-io)
Check it out!
I just got a response that Burst will be added to Bitsquare in the next release!
Thanks to @Dworf who came up with the idea to reach out to them: (https://forums.burst-team.us/topic/1602/add-burst-to-the-bitsquare-io)
Check it out!
First things first. I always liked you personally very much but while working together you have to stand some legit criticism. I expect that from business partners and friends, too. Also I always expect to have an open channel - but you just went completely silent a month ago like an angry kid after a disagreement. I don't neglect what you have actually done for Burst and are still doing - I respect that. But you have also messed up pretty big ignoring your old fellows.
As the leader of the pack, the man behind the curtain, the guy with all strings in his hands: Why are you excluding the developers and maintainers of the Burst Wallet of the last two years? @luxe @blago @LithStud Why are you still separating development? Why is present development with your mighty team (still) done in secrecy?
I hope people don't have such a short memory and just forgot how you left this place 4 months ago and never looked back. How you collected Burst in the name of all developers, paid out to nobody for months, then to few and then finally even you lost it all in a theft. How you esCrowe money for others safely. How you hurt Burstize Investors by illegally sharing code with your "new partners" - Neglecting your duties in Burstize because it is somehow not part of your Asset portfolio.
Now you are even playing with the thought and testing waters to move some of your assets over to another coin? I mean really?
The Development Leader of Burstcoin building all day long GPU farms since weeks/months. This sentence alone is telling.
The condensed news resource for all things Burst! www.burstoin.ist
High quality articles, opinion pieces, posts of the week and a global changelog and more.
The idea behind this site is that some people have or want to invest in this project but are not able to follow the forums on a daily basis, and need a resource for quickly accessing important information.
I've noticed that we have some talented writers in the userbase, and a dev team that express themselves on SteemIt.
They are more than welcome to send in their articles in to be published on The Burstcoinist, too.
Articles: Current Events, free from bias and opinion, factual, holistic views on all things related to Burst
Columns: Articles which reflect the opinions of the authors, IMHO style, bias possible
Post of the Week: The best post from the community, no matter which forum, will be featured here.
Featured Videos: The best new Youtube videos will be published in this category
Global Changelog: Unite and merge all changes/improvements in the Burst-sphere: new software releases, new services, new Projects ... This is my answer to the constant demand for a (fantasy) Roadmap. It is far better in my opinion to have a location were we can track all what we have actually achieved.
^ These categories are open for discussion as I want this to be a community driven News Website - I don't have the time to write articles on a frequent basis myself, but everybody is welcome to register and send in their articles in, add something to the Global Changelog or post in any of the other categories.
(This is a BURSTize project. If content and traffic allow it, we plan to serve only one (!) google ads banner somewhere appropriate on the page. All earnings will go to the BURSTize Asset holders. If you like, believe and want to participate in this site also financially, you can.)
I love the article because it states all the reasons why I am supporting this coin as much as I can:
"Even ignoring questions of waste, power-intensive mining has inarguably also led to geographic concentrations of the industry. Because miners receive the greatest returns where energy is cheaper, areas like Iceland, western China and Washington State have become the dominant epicenters."
You can buy HDDs and USB sticks everywhere in every town in the world.
"The search for a system that would encourage the opposite of these qualities – generic equipment, non-wasteful work and low power consumption."
Check.
"Under a proof-of-space system, miners allocate a certain amount of their unused disk space to the network, with the probability of successfully mining a block being proportional to the amount of space allocated divided by the total capacity of the network."
"To briefly summarize, miners add new transactions into a block by combining them with values from a lookup of data stored in a space they have allocated for mining."
"One notable consequence of using storage as a proof, is that it could democratize the mining process."
"Another upshot of proof of space is that there is no incentive for any actors to try and gain mining share by spending large sums on storage space up front."
This is 100% Burstcoin.
"This creates an inherent attack where someone with a large amount of resources can re-mine since genesis – go back to the beginning and make a whole new chain, giving themselves all the rewards."
"In order to prevent this, Cohen's idea is to use proof of time in combination with proof of space, specifically, proofs derived from a dedicated time server on which some time will elapse in between each period of mining."
Here he disqualifies himself imo or I don't get the point. You can't go back to genesis with a lot of space and mine everything to be up to date to the other chain. Burstcoin has a 4 minute block time and uses every miner as a time server. This is exactly what Burst is doing - so we are also Proof of time. lol.
@Lexicon Instead him coming here to improve the algo, he wants his own more complex solution with his name tag on it and maybe a nice bag of coins as an early adopter.
Burstcoin seems to stay the underdog coin for the crypto people for some more time. (Gpu)Miners don't want it, ASIC industry doesn't want it and some famous people in crypto space dismiss it without even scratching the surface.
Proof of Underdog.
I want to distribute all Burst related pictures, logos and artworks I saved since a long time. Maybe it is of some use for you.
Two years ago the original developer 'burstdev' announced the currency:
https://bitcointalk.org/index.php?topic=731923.msg8272935#msg8272935
and started something unique with it.
Decentralized, Green, by the people for the people - a grassroots movement! No banks or big money involved.
It has been wild ride but much got accomplished the last 12 months.
The last message of Burstdev from June 2015:
Changing the block reward would be unfair to anyone who made decisions based on the stated supply and distribution schedule.
Nothing is perfectly distributed, but I don't really see it being that bad. Excluding the stuff we can't tell apart sitting in exchanges, the next highest address has a little over 2%.
I don't see adding more coins which will probably just end up flooding the market being a solution for anything.
Theres a lot of things I would have done differently in retrospect but I don't think block reward is one of them.
The next update or 2 will be some long overdue extra account security features.
There will be the ability to authorize another account to spend from an account with spending limits(amount / time)(allow access to your funds while keeping the account its in cold stored or other ), and accounts will be able to be set up for multisig.
The authorized spending backend stuff is all done and has been tested successfully on a testnet, but has no user interface yet.
Multisig is still in progress. I haven't decided whether those will be released separate or grouped together.
Afterwards AT interfaces will become a priority, and I also plan to do a bit of block header restructuring some time soon(header only validation cannot currently be done, but could be with some restructuring)
https://bitcointalk.org/index.php?topic=731923.msg11628720#msg11628720
Cheers and Happy 2nd Anniversary!
A possible solution for this problem is a tender system or tender procedure.
Central banks use this method to determine interest rate of the credits they give to private banks.
For Burst Assets a possible use case would look like this:
You got your project / business with an income stream.
You describe your project as good as you can to the public, so they everyone can make their own calculation of value.
As an Asset Issuer you have also to decide the number of shares your Asset will have in total - this number doesn't matter. Also you should make public how many shares you want issue to the public (free float) at the start of your Asset. (Optional: Asset Issuer and other private Shareholders make a commitment not to sell more additional shares until a certain point in the future - known as Lock-up Period)
Let's say the Asset will have 1 Million shares in total and the Issuer want to issue 5% of it.
Next step is to announce a bidding phase for investors, e.g. a two weeks time-frame for interested investors to crunch the numbers and make a buy order for your asset. Your job is to provide as much information as you can and do marketing for your asset.
After the two weeks the Asset issuer has to decide: Retreat completely, because there is not enough interest (and issue to another time) or sell the full promised 5% into all buy orders no matter what.
Done. Everybody happy.
This is a draft and a work in progress.
I want to dedicate this thread to music around Blockchain, Bitcoin and maybe someday Burstcoin. ;)
I've found this today - what a coincidence with the picture:
For the Hip Hop fans out there:
And this one for comic relief - it's hilarious. We need one for Burstcoin some day:
After several successful Crowdfunds like:
Burst Android Development - which gave Burstcoin an Android App,***
The Crowdfund Implementation in the Wallet and
the YoBit Listing Crowdfund.*
*YoBit hasn't reacted to the purchase of the Listing for more than a week in a time of scam rumors. After consensus with the contributors of the CF we got listed on Livecoin Exchange instead with additional financial help of Crowetic.
@Valareos asked here why we couldn't get listed on cryptopia.co.nz:
https://www.companiesoffice.govt.nz/companies/app/ui/pages/companies/5392901
https://coinmarketcap.com/exchanges/cryptopia/
We actually can get listed and there are two packages available:
I have to take into account the fluctuating prices of Burst, BTC and DOT, the currency cryptopia uses to sell the Packages. All these are fluctuating and making this pretty much a nightmare.
I'm reaching for 333'000 Burst for this to be 100% funded (Exchange Listing Package). If it gets 140% funded (466'000 Burst) I will buy the Listing Combo Package with additional advertising for Burstcoin.
There will be certainly Funds left after conversation from Burst to BTC to DOTs and I will then refund the contributors proportionally. A gap solely because of the bad conversation rate will be covered by the CF issuers.
EDIT/NEWS: CRYPTOPIA CAN'T ADD BURSTCOIN BECAUSE OF TECHNICAL DIFFICULTIES. PLEASE DON'T CONTRIBUTE TO THE CROWDFUND ANYMORE. Your contributions will return to you automatically at the end of the Smart Contract. 2565 blocks to go
I guess they have no NXT-Based coin running on their exchanges and have no experience with it yet.
Spacemint* :
A Cryptocurrency Based on Proofs of Space
Sunoo Park ∗§ , Krzysztof Pietrzak †§ , Albert Kwon ∗ , Jo ̈el Alwen † , Georg Fuchsbauer † , and Peter Gaˇzi †
∗
MIT
IST Austria
*Spacemint is not an existing cryptocurrency.
Excerpt:
One of the original ideas behind basing Bitcoin
mining on computational power was that anyone
could participate in the network by dedicating their
spare CPU cycles, which incurs little cost since it uses
the idle time of already-existing personal comput-
ers. However, modern Bitcoin mining dynamics have
become starkly different [40]: the network’s mining
clout is concentrated in large-scale mining farms, of-
ten in collaboration with electricity producers. Cur-
rently, mining with your spare CPU cycles will result
in net loss, due to electricity costs: newcomers must
make a rather substantial initial investment in hard-
ware, usually in the form of dedicated ASICs, to enter
the game. This phenomenon is sometimes known as
the mining oligarchy, and it undermines much of the
motivation (stability and security) behind the decen-
tralized system design.
Bitcoin also depletes large amounts of natural re-
sources. The Bitcoin network constantly consumes
electricity at a massive scale, in the order of hun-
dreds of megawatts [34], as it mines a block every 10
minutes or so. Moreover, most mining is currently
done by specialized ASICs, which have no use be-
yond mining Bitcoins. For these reasons, Bitcoin is
considered an “environmental disaster” [22] by some.
To address these issues, we propose SpaceMint,
a cryptocurrency that replaces the costly proofs
of work underlying Bitcoin with proofs of space
(PoSpace) [17]. In SpaceMint, in order to mine blocks
(and thereby mint coins and confirm transactions),
miners must invest disk space rather than computa-
tional power, and prove to the network that they are
dedicating certain amounts of disk space.
In SpaceMint, miners who dedicate more disk space
have a proportionally higher expectation of success-
fully mining a block and reaping the reward. It is
therefore clear that miners will be incentivized to in-
vest in hard-drive capacity, just as Bitcoin miners
are incentivized to invest in electricity. However, we
highlight three key differences:
- In SpaceMint, the investment is in the form of
capital expenditure, and the mining process af-
ter hard-drive initialization incurs negligible on-
going monetary and natural-resource cost. In
contrast, in Bitcoin, the mining process requires
perpetual energy expenditure.- In Bitcoin, resources are “used up” by mining:
electricity is a depletable resource which once
used is gone; and Bitcoin mining hardware is a
specialized, single-purpose resource that is not
useful for anything once the need for Bitcoin
mining is removed. In contrast, the resource
consumed by SpaceMint is recyclable, in that it
can be used again and again, and multi-purpose,
since hard drives have intrinsic value in their
ability to store useful data. 2- Ordinary people have (many) personal devices
with unused disk space available, which can be
repurposed for SpaceMint mining with very low
set-up and maintenance costs. Since mining is
cheap, and even small players get a proportional
fair share of rewards, we argue that we can ex-
pect large amounts of space in the network and
a more distributed, decentralized miner body.
Source: https://eprint.iacr.org/2015/528.pdf
As we all know the theoretical concept of "Spacemint" exists today and is known as BURST.
From theory of being better decentralized to reality and hard facts:
Thanks to @Gadrah_ for polishing the diagrams.
Burst.ninja is for big miners. Try another pool like pool.burst-team.us or pool.burstcoin.it
Edit: or pool.burstcoin.de , pool.burstcoin.eu , pool.burstcoin.biz .
Burst can now be traded on Livecoin.net ! Check it out!
____ _ _ _____ _____ _______ _ _
| _ \| | | | __ \ / ____|__ __(_) /\ | |
| |_) | | | | |__) | (___ | | _ _______ / \ ___ ___ ___| |_
| _ <| | | | _ / \___ \ | | | |_ / _ \ / /\ \ / __/ __|/ _ \ __|
| |_) | |__| | | \ \ ____) | | | | |/ / __/ / ____ \\__ \__ \ __/ |_
|____/ \____/|_| \_\_____/ |_| |_/___\___| /_/ \_\___/___/\___|\__|
Initial Holding Structure:
100% of the monthly ad revenue of burstcoin.biz & forums.burst-team.us:
+--------------------------------------------------------------------------------+
| | $ 50 | | | | |
| 33% Tax Withholding |Hosting| haitch | daWallet | crowetic | free float |
| | Costs | | | | |
+--------------------------------------------------------------------------------+
| | | | |
+----------+ | | | |
v v v v v
half of the hosting costs 250k shares 250k shares 250k shares 250k shares
New asset by 3 members 2 Members of the Burst Team: - BURSTize - Ad revenue based asset from ads on forums.burst-team.us and the burstcoin.biz Blockexplorer, and potentially other sites in the future..
Here's how the asset works:
ASSET INFO - Of the total Ad revenue, 33% will be put aside for tax withholding. $50 will be put aside to cover 50% of Haitch's colo hosting costs. 100% of the remaining revenue gets distributed to the asset. Of the asset shares, 75% of shares have been pre-allocated to Crowetic, daWallet and Haitch to reimburse some of their not insignificant cash outlays to get all the community resources up and running. The Burst-Team members who received pre-allocated shares are free to sell them on the exchange at any price they wish. The other 25% will be available to the community, and will be offered in a number of tranches. All of the 25% of shares will be offered at 100/Burst per share. The initial tranche will be 25K asset shares (sold out), the second tranche will be 100K shares. The size of the third tranche has yet to be decided.
Update: After the non-support and later exit of Crowetic there are around 50% of shares in the free float of the market.
The first payout will be on the 1st of August, and then on or around the first day of each month after that.
ASSET ID - 14692463117907261266 -
Dividend Payouts monthly.
BURSTize Asset Wallet:
BURST-J8Y7-EGEW-DKNC-A95QG
Initial release 50,000 assets at 100 Burst / Asset. (Sold Out)
Second release - 100,000 assets at 100 Burst / Asset. (Sold Out!)
Third release - 50.000 assets at 113 Burst / Asset. (Sold Out!)
Last release - 50.000 assets at 150 Burst / Asset (Sold Out!)
Issuing Phase is over. Free Market Trading begins...
Total amount - 1 Million assets total, totaling 100% of the total after costs Ad revenue on forums.burst-team.us and burstcoin.biz and future sites.
Starting released amount - 10% of remaining 25% of total ad revenue - Sold Out. Second release of 100,000 assets available.
Initial Release Price - 100 Burst/Asset
Payout Structure - Payouts will happen just as the other BURST team assets, once a week.
This asset is likely to be a rare one, as the total percent not already given to the owners, is only 25%, and only 10% will be released initially (sold out) 100,000 more assets made available at the same initial price, so get them while you can! First payout 1st August.
And just to make this really, really clear - the asset earns on page views, and earns more on Ad clicks. BUT, DON'T click on ads to try and increase revenue, only click ads that interest you. Fake clicks will be detected by ad networks and can cause the account to be suspended and the revenue stream stopped. If you see an Ad on a page, look at it, does it interest you really? Then click it, don't click to try and earn the asset cash - it will backfire and cost us, and you, so much more. The forums are getting 250,000 page views a month, we don't need or want fake clicks, please scroll down so the ads are fully visible (they're down in the page footer), that helps, but abusing the system will hurt us all.
Some Data about the Forum Traffic:
July 2016
Of course it is. A currency can't solve poverty. Only people can.
@jervis You are right. The design is that transactions fees per block will be higher than the mining reward in some years. Same like with Bitcoin only faster.
@socalguy The mining reward has the character as a bonus payout for distribution and incentive to build up the network.
It is a decreasing function with 5% less every month:
One could argument, that the pioneers mining Burstcoins have had an unfair advantage, but most of us put at least equal or more time and effort in it than ever could be mined the last 2 years. If I wouldn't have mined but bought the coins now I could acquire a very similar stack of coins today with the same money.
Many of the big miners in the early days sold all of their coins on the exchanges and helped to distribute the coin to many people and pushing the price down. I think Burst is one of the best distributed Coins out there:
(Source Burstcoin.biz, old picture) See also Richlist... http://burstcoin.biz/charts/addresses-by-balance , individual with the most Burstcoins has under 2%)
I honestly think that we are still in a high inflation phase but slowly Burstcoins get rarer and therefore price climbs up. There are no plans to change the fundamentals of Burst and I'm pretty sure there will never be a majority for it. Anything else would be no better than national centralized currencies.
This is it. These are all coins and I count on it that in 2021 and later the transaction fees per Block will reward the miners generously. Maybe only 200 coins per Block, but for a much better price.