POOLS & Killing Interest
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@TonyMarq If you take a look at https://monitor.burst-team.us/pool , you'll see that in the past 10 days over 600 unique miners have won blocks, not counting the solo miners. Are some of them huge, yes, are all of them huge/big or a re some small? I can assure you there are still plenty of small miners picking up blocks.
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@IceBurst said in POOLS & Killing Interest:
Yesterday I saw a block with 50+ on it. That is a nice bonus. Should you or the pool hit it.Niggah last month i messed something up and sent a transaction with a 350 burst fee :) . I might hold the record for burst stupidity on this forum.
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@nameless Don't bet on it ...................
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@haitch surprise me :)
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@TonyMarq I don't see the disturbing trend having large miners in your pool. You will get more frequent but smaller payouts than on a pool with smaller miners only.
It is linear: If the network size doubles, you're mined Burst will be halved and vice versa.
http://burstcoin.biz/charts/estimated-network-size
I hope for increase of network size by mass decentralized mining.
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@IceBurst I understand that and I also understand that bitcoin now has approx. 18 centralize mining centers controlling what was once many. Is that direction this is heading? What you're telling me is that many it would be wiser for me to just purchase the Burst instead of "hustling" for a few coins via a system, which brings me back to the question, "why mine"if it will eventually be removed from distributed controls. Thanks for your input.
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@haitch I'm not arguing the numbers, I expressing an observation that I see on the block by block activities within one pool. if I just look at the Historic Share allocation, which I presume is based on the individual owners (there's no assignment to show what color represents one owner), approx 40% hold the balance of the pool winnings. I get the system, but I'm just trying to see what direction it's going.
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@daWallet I'm not too concern with larger miners in the pool, I'm concern with larger miners winning most of the pools. In recent weeks, I have seen winners take the block and first place at the same time. Is that normal?
If normal, then theoretically, one can come into the pool with 200TB of plotted space and supported by a very fast graphic card and pretty much wipe out several layers of pool winnings at once. I understand it's just one pool and there are others, but all of them have the same built-in issue, the pools will eventually be controlled by the significant few who have the power to run them while driving out the competition. Thanks for the input.
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From a avid Bitcoin miners perspective, My Avalon6 uses a 1200w apu, My S5, S3, S1 are on a 850w , 750w and 600w apu. My electric bill just for this is $320. add the amount of bitcoin I mine in a week .02.
Shut all down and run a compact for fun
Started to mine burst, using existing harddrives and new ones. 2 servers and 2 laptops running 24/7 mining with 22tb on a good day and getting 10,000 burst coin a week (.014 btc) with a 60 dollar electric bill.
Your move.......
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@Burstde You are making a much more bigger profit than BTC mining xD
BURST is the way forward! ;)
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@Burstde Aren't you just proving my point?
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@TonyMarq Yep
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@TonyMarq I hear your concerns and I used to feel the same way. It is a competition though. So compete or get left behind. The real cool thing about Burst that you are not grasping is.... Even if someone were to massively solo mine every block, that would mean it is worth a lot of money to be in such demand.
Now here is the point you are missing and why you should really be excited about spreading the word to more people like yourself who don't want to compete or can't.
If tons of people find out about Burst and they go Head to Head with the Solo Plots, it can be done in the time it takes to make the plots. The computing power is already at their fingertips. Whereas BitCoin you had to Buy a clunky Miner at a High Cost and Power bills etc.
With Burst you are instantly able to topple any Controlling entity by spreading the word and making a pool to compete with the Solo Monopolies!
It is about opportunity and to those who can not mine or don't want to compete... Buy Burst instead of buying Hard Drives. If you hedge any market conditions you will always stabilize your investment. Say you buy 1 BitCoin at 145 Sats and the price goes down to 120 sats. You can now hedge your 145 position and prepare for an uptick to sell at 145 or hedge further to 90 or 60 sats. Then you can be dynamic and those solo miners must sell their coin to pay back their investments. But most likely the price just keeps going up and up and you can make money now or just hold or invest in Assets that mine Coin. Then you have taken your profits and beaten the odds against the large plots. There will always be people competing and selling coin so when they sell you may be able to capitalize on them.
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@TonyMarq said in POOLS & Killing Interest:
@Burstde Aren't you just proving my point?
In a way just proving to you how you will miss out if you don't want to compete. Even if you buy hard drives now and get as much coin as you can with your resources you can always sell the drives later and have Burst coin as it grows in value. If it only goes to a penny you will be glad you did.
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@CryptoNick said in POOLS & Killing Interest:
@TonyMarq said in POOLS & Killing Interest:
@Burstde Aren't you just proving my point?
In a way just proving to you how you will miss out if you don't want to compete. Even if you buy hard drives now and get as much coin as you can with your resources you can always sell the drives later and have Burst coin as it grows in value. If it only goes to a penny you will be glad you did.
+1 on this
You can sell your HDD later if you want out.
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@CryptoNick Thank you Nick, but maybe I need to elaborate a little more, I'm really not missing the point, I get that. However, my two concerns are 1) turning off potential new users that enter the Burstcoin mining process, and 2) how "solo miners/large capacity HD miners are weakening that effort.
I'm not at all concern about the volume of activities, just how specific accounts collects a large number of wins and leaves an uncomfortable imprint on newcomers, like myself. ( I have noted in the forum before recommendations were made to enter smaller pools based on HD mining capacity)
Trading, on the otherhand, is an experienced process which I don't recommend for new miners unless they have trading experience, which I doubt that some existing miners understand.
The point is that I do agree with you, that we need to grow the mining base to increase the value of the Burst, but I feel that in order to do that we must encourage the newbies or it will be a tough climb, especially in what's becoming a highly competitive process. Thank for the input.
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@TonyMarq said in POOLS & Killing Interest:
I'm not at all concern about the volume of activities, just how specific accounts collects a large number of wins and leaves an uncomfortable imprint on newcomers, like myself. ( I have noted in the forum before recommendations were made to enter smaller pools based on HD mining capacity)
Every time a large miner joins my pool I smile, and when they win i smile even more. The more blocks your pool wins the better your earnings. I know it can be disheartening to see a miner with 320+TB and the amount they win, but think of the positives. In many countries ASIC or GPU mining is just not feasible with the cost of electricity, with Burst it is. Burst has a very low financial entry point for mining. Burst is cheap at the moment. Aside from mining Burst, there are Burst assets to invest in compare their rate of return to any banks deposit interest rate, you can buy and sell on poloniex and make nice returns if you get it right. You can also have your own market place with a global market and no banker fees to contend with. I think you just need to start thinking more globally and outside the box, ask yourself what is cheap and plenty-full in my country that is rare and expensive in others, make a list and add them to your marketplace and go from there, all it takes is just one order to get you started. The world is your oyster go find some pearls.
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@TonyMarq Ok yeah I see you do get it. I hope my hedging explanation made sense because any beginner can use it to always be able to make money with. The problem is there is no real entry into BitCoin now unless you buy it with cash. So there is no way to compete and the slice you could get is very small.
Right now you could invest $2000 into Computer hardware you would own and take a good share of Burst. If you consider that as your entry point in hardware of course. If you just bought $2000 worth of Burst you have to take your chances in the market. Again hedge and you will be safe. But the fact that you can do it at all is why Burst is going to take off exponentially. You can sell to get BitCoin and if those people just wanted to use Burst to get BitCoin then let them leave. It will be a percentage but most will value Burst Over BitCoin just for the mere fact that it was their entry point.
The funny thing is I just watch a few rounds on my pool and 3 small TB plots just hit blocks. One was 4TB another was 1.2 TB and an 8TB. Then out of the blue another block was hit by the 4TB. I thought of your post and just realized the Luck Factor is always on someones side. I have 40TB on that pool and only 1 block in 24 hours and a few 300 coin payouts. That 4TB just leaped past me and is 10%. But the beauty of Burst is that when you hit a good 11 second deadline it pays out a proportion rather than a PPLNS type scenario.
If you have ever hashed to find Scrypt LTC blocks you will know that you can never get better shares than your hash and to find a block you need tons of hash or occasional luck. But you are stuck at your hash rate.
With Burst you can get a lucky block and take the large portion of that block. You are pretty much waiting for the prime scenarios to play out and it is an average. But it will happen. You see some high diff blocks found at 14K diff and then it goes 10-14 Minutes to find the next block. The Solo Miners couldn't do anything to generate this block even if they added more Plots.
I am really glad you spoke up because it made me realize why Burst is going to be so much more powerful than BitCoin.
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@TonyMarq said in POOLS & Killing Interest:
@IceBurst I understand that and I also understand that bitcoin now has approx. 18 centralize mining centers controlling what was once many. Is that direction this is heading?
From Burst site:
"The problem with Bitcoin is that not everyone can own specialized hardware (ASIC). The most efficient ones are private, or so expensive, that they are not an option for the casual user. This favors large mining operations controlling large farms of ASICs, which is less decentralized. However, hard drives are affordable and available to all. In fact, the majority of people already own all the equipment necessary to mine a Proof of Capacity cryptocurrency. Because the coin is ASIC-proof, the profit per-dollar of mining equipment should be approximately the same for either large data centers or smaller casual users. Large data centers also suffer from larger overheads, like staff, building costs, etc. which tips the profit balance more in the favour of the smaller miner. Individuals can mine using their existing computer with no extra outlay which encourages more smaller users to contribute to the network, hence improved decentralization.
Along these same lines, people tend to prefer coins that are more evenly distributed and being more decentralized means that they are more evenly distributed.""Proof of Capacity is ASIC Proof
One of the reasons that Litecoin gained fame was because it was believed to be ASIC Proof. Time showed us that Litecoin can be mined by costly and rare ASICs nevertheless. This is unfair for the average small miner and is against the decentralized approach of cryptocurrencies.
Burstcoin's Proof of Capacity is based off of Proof of Work, so theoretically you could compute the Proofs in real time. However, it is not possible to require enough work to be done during a 4 minute time frame that even the most cost efficient ASIC cannot mine efficiently enough to make it cheaper to use than a hard drive. ASICs calculation speeds are rising, but so do HDD sizes."It means more decentralization, all in an energy efficient scenario. And much more in Burst world...
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@Burstde Damn Why cant you be in the States I want your Avalon6 miner lol






