A New Massive BURST Mining Operation To Hit the community Soon!

nox

@tross and @lexicon have a solid point. giant solo mining operations hurt the the community, regardless of whether its offered as an asset.

@jervis said in A New Massive BURST Mining Operation To Hit the community Soon!:

Real world application is needed by this coin.

Thats for sure!

AdamGuerbuez

Propagandalf

Why complain about someone who risks a shitload of his own money to support the Burst project, you should be thanking them. I respect having the balls to set up a mining operation, and I wish more people would do it. You cannot all expect to have the biggest piece of the cake without having done anything to deserve it. It doesn't work that way, but we all get something for contributing to secure the network and process transactions by mining. If you believe in Burst as much as I do, you know that you will be rewarded handsomely even if you only mine 1 coin per month. Think about it, if Bitcoin is worth 747 USD per coin right now, would not your measly 1 coin per month be worth a small fortune even if Burst only reaches half the value of Bitcoin? Don't risk looking like a total idiot in the future for complaining about low mining income today. And don't get me started on how much extra money you could be making in assets with your mined coins or the surfbar.

Just try to imagine how many TB that will appear on the network when people from lots of different countries all across the world start mining with 120 GB each or less using their smart phones, and then in addition you get lots of people joining in with a few TB each on their computers. This is just the beginning. We had over 3000 new wallet downloads last month (http://burstcoin.biz/charts/new-wallets-per-day), that's 3000 potential new miners who will contribute to the network, and with all the development going on with Burst, there is no reason why these numbers should decline, and why the network shouldn't grow.

As Burst becomes more popular, new farms will appear, but because it takes technical finesse and dedication to build and manage a sizeable farm, most people will settle for plotting a few HDDs and use their phone too. Since these are still "early adoption days", big farms can temporarily shift the power balance, but in time there will be an equilibrium when our population grows. The same cannot be said for Bitcoin because of the nature of the POW algorithm, which only favours those with huge ASICs that have free power. Burst and POC is distributed, green as hell, costs fuck all to mine and all of you already own the mining equipment. Nuff said.

iKnow0

@Propagandalf Exactly! Ask not what Burst can do for you, but what you can do for Burst.

Gadrah_

@BURSTguy @Propagandalf Guys, thank you for what you wrote, it makes so much sense. The big farms are both impossible to avoid and the sign that we are moving forward.

nox

@jervis said in A New Massive BURST Mining Operation To Hit the community Soon!:

@Lexicon well, it's better than these monster of a farm goes solo. Then, pool miners will only get real scraps. I think this is the time where people should think of using burstcoin for other things outside of crypto. If we can't mine them well, then let's use the coin and make its value higher. Real world application is needed by this coin.

@Propagandalf said in A New Massive BURST Mining Operation To Hit the community Soon!:

Why complain about someone who risks a shitload of his own money to support the Burst project, you should be thanking them. I respect having the balls to set up a mining operation, and I wish more people would do it. You cannot all expect to have the biggest piece of the cake without having done anything to deserve it. It doesn't work that way, but we all get something for contributing to secure the network and process transactions by mining. If you believe in Burst as much as I do, you know that you will be rewarded handsomely even if you only mine 1 coin per month. Think about it, if Bitcoin is worth 747 USD per coin right now, would not your measly 1 coin per month be worth a small fortune even if Burst only reaches half the value of Bitcoin? Don't risk looking like a total idiot in the future for complaining about low mining income today. And don't get me started on how much extra money you could be making in assets with your mined coins or the surfbar.

Just try to imagine how many TB that will appear on the network when people from lots of different countries all across the world start mining with 120 GB each or less using their smart phones, and then in addition you get lots of people joining in with a few TB each on their computers. This is just the beginning. We had over 3000 new wallet downloads last month (http://burstcoin.biz/charts/new-wallets-per-day), that's 3000 potential new miners who will contribute to the network, and with all the development going on with Burst, there is no reason why these numbers should decline, and why the network shouldn't grow.

As Burst becomes more popular, new farms will appear, but because it takes technical finesse and dedication to build and manage a sizeable farm, most people will settle for plotting a few HDDs and use their phone too. Since these are still "early adoption days", big farms can temporarily shift the power balance, but in time there will be an equilibrium when our population grows. The same cannot be said for Bitcoin because of the nature of the POW algorithm, which only favours those with huge ASICs that have free power. Burst and POC is distributed, green as hell, costs fuck all to mine and all of you already own the mining equipment. Nuff said.

When proposing the future price of Burst, consider the total supply.

For 1 Burst to be half of 1 Bitcoin, Burst total market cap would be valued at $562,960,996,542. Thats $562 billion dollars. So just some perspective there of what's possible.

LithStud

@Propagandalf said in A New Massive BURST Mining Operation To Hit the community Soon!:

most people will settle for plotting a few HDDs and use their phone too. Since these are still "early adoption days", big farms can temporarily shift the power balance, but in time there will be an equilibrium when our population grows.

I would like to point out this statement of yours. There is no point whatsoever to mine with small amount of space as you will get so miniscule amount of burst that you pay way more for power consumed. Heck i can tell its no good even now take it from a guy that has just 200GB at the moment. Pretty much all my burst is from buying it and investing in assets. I still plan to get about 8TB hard drive space as with that much i will get something still untill network diff goes way up and reward way down at wich point i will just repurpose those drives for my personal use.

Simply put i am a realist. So my advice to most of ppl would be forget buying new drives better spend that money stright on burst and maybe invest into assets or if you think it will grow stash it for couple of years.

nox

@Gadrah_ said in A New Massive BURST Mining Operation To Hit the community Soon!:

@BURSTguy @Propagandalf Guys, thank you for what you wrote, it makes so much sense. The big farms are both impossible to avoid and the sign that we are moving forward.

Adding more miners and overall network space will not move the needle. The largest miners are likely dumping it on the open market. As others said the focus must be moved towards the usage of Burst by expanding the services offered.

jervis

@Propagandalf said in A New Massive BURST Mining Operation To Hit the community Soon!:

Why complain about someone who risks a shitload of his own money to support the Burst project, you should be thanking them. I respect having the balls to set up a mining operation, and I wish more people would do it. You cannot all expect to have the biggest piece of the cake without having done anything to deserve it. It doesn't work that way, but we all get something for contributing to secure the network and process transactions by mining. If you believe in Burst as much as I do, you know that you will be rewarded handsomely even if you only mine 1 coin per month. Think about it, if Bitcoin is worth 747 USD per coin right now, would not your measly 1 coin per month be worth a small fortune even if Burst only reaches half the value of Bitcoin? Don't risk looking like a total idiot in the future for complaining about low mining income today. And don't get me started on how much extra money you could be making in assets with your mined coins or the surfbar.

Just try to imagine how many TB that will appear on the network when people from lots of different countries all across the world start mining with 120 GB each or less using their smart phones, and then in addition you get lots of people joining in with a few TB each on their computers. This is just the beginning. We had over 3000 new wallet downloads last month (http://burstcoin.biz/charts/new-wallets-per-day), that's 3000 potential new miners who will contribute to the network, and with all the development going on with Burst, there is no reason why these numbers should decline, and why the network shouldn't grow.

As Burst becomes more popular, new farms will appear, but because it takes technical finesse and dedication to build and manage a sizeable farm, most people will settle for plotting a few HDDs and use their phone too. Since these are still "early adoption days", big farms can temporarily shift the power balance, but in time there will be an equilibrium when our population grows. The same cannot be said for Bitcoin because of the nature of the POW algorithm, which only favours those with huge ASICs that have free power. Burst and POC is distributed, green as hell, costs fuck all to mine and all of you already own the mining equipment. Nuff said.

I think it's like physics. The more surface area is better than one big massive stuff with only one surface area. I mean, yes, 3000 miners will lead to a PB or more but that's 3000 people versus just one big massive miner. I don't need to explain it because it's already self explanatory what happens next. :)

Gibsalot

@jervis vary true i would much rather see the network grow with 100 new people adding 10TB each , than 1 person adding 1,000TB ... but that said any + to TB on the network is a good thing in the long run :)

Propagandalf

@LithStud said in A New Massive BURST Mining Operation To Hit the community Soon!:

There is no point whatsoever to mine with small amount of space as you will get so miniscule amount of burst that you pay way more for power consumed.

That depends on several factors, such as your socio-economic status and what you hope to get out of it. Imagine if a poor family could have an extra treat on their plate on Sundays, because they were able to mine a small amount of coins on their phone that is always switched on and thus mining 24/7.

If you are mining on a device that is already turned on, like your main PC or phone, you hardly use any power at all, especially if you are only mining a few GB. You are likely using more power when you wake your screen from sleep, so you may as well mine. To make profit from what would otherwise be wasted free space, is quite appealing to a lot of people, and in a sense it's like owning your own miniature money printing machine.

Imagine if mining on your phone is only the first place you will be mining. Android mining can be done on other devices than phones as well, which could further add to the income in the future. I'm not saying it's for all, but there's definitely a market for mining, even in small scale (in my opinion).

LithStud

@Propagandalf sorry i will have to disagree with you on this. If and i mean IF burst gets real expensive (cant see it more than 1B = 1cent) how long do you think you will need to mine to get that, and mining on phone is just needless drain on battery (proccess has to be awake) that i am having problems as is. I see this overoptimistic view about crypto currency pretty much in every community, sadly real world applications so far is scarce and i would say fairly expensive to implement or unnecessary hard to use.

AdamGuerbuez

Castiel

@AdamGuerbuez Only one thing I would suggest to you for your Farm .... If ever you decide to rent your space to people or turn your farm into cloud mining for people.... Please don't restrict it to Asset Exchange. Better convert it into a website & spread a word outside the Burst Community. Also don't forget to add a Referral System (Best way to advertise) :)

LithStud

@BURSTguy no i am not mining on phone. See no point of it.

vier23

@LithStud Perhaps at this stage there's no point (due to limited storage for phones). However, when external storage for the android app becomes supported down the road, think about all the possibilities. USB OTG and an external 8TB hard drive for a power-sipping phone or an Android TV with USB support (I've got an Nvidia Shield with 2 USB 3 ports just waiting for this to be implemented). These ARM-based devices use way less power than our typical computer mining set ups. Once external storage options are implemented, android mining will become viable (and I'd argue better than PC mining). I'm confident this will be implemented soon. Thanks to @daWallet , @IceBurst and everyone else involved in the Android app development:) Stay optimistic!

LithStud

@vier23 i dont say its not viable , i say its not cost effective down the road :P also the arguments were "all those ppl using there phones to mine" not android os with attached external storages (basically a mining rig)

vier23

@LithStud Ahh I see. Yes, I do agree it's not cost effective at this point (due to the limited storage). It's still quite cool though and something that just isn't possible with other crypto out there. Android-based "mining rigs" though (whether it be Android TV devices or android phones with USB OTG support or tablets) with external storage should be very cost effective. Definitely looking forward to that:)

LithStud

@vier23 you will save on power consumption (TV has ~50-80W i think) but still need to invest into HDD. So it all depends how much you can get out of it will it still be enough to cover electricity (on pc i run burst mining just because i run it for other stuff (asset wallets, some other coin gpu mining)) and be able to sell those HDD (or have a use for em later).

I always urge to do a bit of math, i would rather people come in and stay than get into minus. Thus my reasoning of buying burst and trying to invest it or just straight stashing.

As long burst keeps its price stable i will be happy. So you can say that stability of coin is my only concern.

vier23

@LithStud My Nvidia Shield uses 3.6W and 19W depending on idle or gaming (according to Anandtech lol). I'd expect mining to fall somewhere in between that. TV would not be on, just the TV box. With regards to HDDs, I've already invested in the HDDs so I'd just be moving them over to a lower power consuming device, which is why i'm excited for this feature:) I've only been running my pc 24/7 for burstcoin, otherwise I typically only have it on for a few hours/day (I work a lot). If your computer is on anyways, then yes, might as well burstcoin mine on pc!

It's definitely important to do the math to see what makes sense. Everyone's situation will be different.

Agreed. I'll be happy as long as the price is stable as well!