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



  • @AdamGuerbuez Still think this is bad for burst as a whole. Its like adding another ninja pool with miners to the system which means less blocks for other pools. My pool has a lot of new miners and people that are just starting off so what does less burst mean to them. Some will quit and some will invest but wouldnt be better if all stayed. I believe when mining farms like yours show up it will drive bust down. If you were mining another coin and paying out burst it would help raise burst. Your massive mining operation has operating cost. I am sure they dont take burst as a payment. So that means you must dump burst on the market. Its a free world we can do what we want but I see nothing good coming out of this. This isnt Bitcoin!



  • @tross Dude, this isn't the first Pb farm that is created, what the man did was allert people he would make it and even better, he will create an asset so other people can invest in this endevour with little investments or big ones... It will defenetly not benefit the small miners and will centralize a bit the network but it will give the chance of small miners to get better ROI's on their investments if they invest in his asset... this will force people with medium rigs to upgrade them so their ROI don't get lost but imho it will be much good for the network because if @AdamGuerbuez and @Focus play their cards right this can be a huge Marketing tool and bring a lot of people to invest in assets inside the AE what will make the network size grow at the same time that brings a lot of investment to the communitty!

    Ofc that the regarding dumps we will have to trust that they don't do it but i dont think they will do it because it's not good for their investments too?!


  • Banned

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

    Just one thing that will make this community live and that is real world application. Even if we all mine with gazillions of capacities, if there's no real world application, this coin will die. Invest in other things other than just mining. Mining income will sure go down when these monsters go online. You have to balance your investments. It's always great to invest in your mind first. :)
    that id the pure truth



  • @gpedro I hope I am wrong!



  • @gpedro I hate to say this but I have to disagree with you this time. An asset that's purely based solely on mining Burst is doomed to fail. It's better to offer this as a market service rather than an asset. For reasons that I will not explain more into detail because I don't want to sound condescending, it's not a good idea to base an asset solely on Burst mining alone. Also, an asset that will bring great impact on this community, I think, would be the real world application asset. It's the one that will get us out of the box.

    Like I said before, long long long time ago, we could start with something that would make people see us in public. It could be a service or a merchandise which also accepts burst as payment from the public eye. Heck, we could even give discounts for those who pay with burst because it is yet untaxable by any governments.

    Unique ideas are what we need in Asset Exchange because AE is just like any other companies in the world. We have to look at it through their perspectives. Me, I want to make another Pfizer or Hilton. Heck, if I'm a good programmer, I want to make another Google or Facebook. That's the real investment there. Real assets where people who buy shares can even give to their children's children their asset shares as long as those companies are alive. And that will make the world go wild for Burst. Like, WTF is this crypto? How can this community go make something like this big? We got to get in or be left behind.

    Just my thought. :)



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

    @AdamGuerbuez Still think this is bad for burst as a whole. Its like adding another ninja pool with miners to the system which means less blocks for other pools. My pool has a lot of new miners and people that are just starting off so what does less burst mean to them. Some will quit and some will invest but wouldnt be better if all stayed. I believe when mining farms like yours show up it will drive bust down. If you were mining another coin and paying out burst it would help raise burst. Your massive mining operation has operating cost. I am sure they dont take burst as a payment. So that means you must dump burst on the market. Its a free world we can do what we want but I see nothing good coming out of this. This isnt Bitcoin!

    When small miners are not able to Mine Burst anymore .... It means BURST is growing :)
    No Doubt Mining Farms & Cloud Mining is the Future for any Crypto Currency & if BURST is witnessing Mining Farms .... then it is on the Right Track !



  • @jervis I agree with you like we talked before many, many times... Real world applications is what we need but i think there's room in the market for a real big mining operation (and i can see good things coming from it), the only things i see as as problems for the network is the centralization of the mining farm (but i offered a solution before that will hopefully minimize this issue (although low the mining ROI of this farm) that is split the mining through a lot of pools) and the dumps that will exist (but regarding to that we can only trust in adam and focus because there's nothing more we can do regarding to this issue)...

    Regarding to Real World applications i see it as the future and like i said before i think in mining now just as a way of supporting projects (because i don't have the investment to make a PB farm, not even close LOL)...
    If you think, i don't have nor plan to have a asset that have revenue only from mining... The only mining operation i run is for BBrowser and is more like a support for the project than to give a good ROI from it to the investors (as said since the start), and as you know i have plans for many Real Worlds applications in my head, some of them have already plans in motion some don't, and even some of my plans can only be done when the market capitalization of BURST be much higher because the initial investment needed to put them in motion would be really big and that would decapitalize BURST if they were started at this point of time (what is not my intention nor should be the intention of nobody)...

    I know that some plans are in motion for some projects that are coming to the AE (soon), from me and from other people, that are real world applications, but most of them are not physical Assets (i mean that are things that would not have a physical location like a restaurant or a store) but physical companies like that can be done for sure (and some of them with little initial investments, depending on the country they are launched and how carefull things are planned)... Ofc that small initial investments will take longer to become big and can even fail while they are growing but these are things to be considered since the start of such projects and can be done building safety nets since the beggining.

    Like all we know there is no such thing as investments without risk but are many things that can be done to minimize those risks, and a lot of improvements have been made inside our community regarding to that matter, so let's use it?! ;D

    EDIT: I just don't agree with you that something is doomed to fail since the start, it all depends on how it's managed?!



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

    EDIT: I just don't agree with you that something is doomed to fail since the start, it all depends on how it's managed?!

    But an asset based SOLELY on burst mining is what I meant. I offered an option and a solution for it to be in a market service instead of an asset. That's my argument here. :)\xD



  • @jervis How is that better?
    By my perspective if you sell it in the marketplace it would be like renting the space (and i don't see it as so good investment as if it is an asset), otherwise (if you are selling instead of renting) it would be like an asset that you simply can't sell it back to no one. And if you do an asset from it you are basically selling the space and give investors a way out anytime they want (well depending on the AE volume of this asset)...

    Maybe i am not understanding your concept of selling it in the marketplace, buddy...



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

    When small miners are not able to Mine Burst anymore .... It means BURST is growing :)
    No Doubt Mining Farms & Cloud Mining is the Future for any Crypto Currency & if BURST is witnessing Mining Farms .... then it is on the Right Track !

    That's how I see it too! The network security will become more secure as well, which is good. Of course it is nice for small miners to be able to earn a nice payout for as long as possible in the beginning, but all (successful) cryptos reach a stage where an upgrade is necessary in order to stay in the game. Mining is only one aspect of a crypto currency though, I mean, we don't complain about not being able to mine fiat, we just trade them for things, don't we? Being able to mine is simply a luxury because we are early adopters of future mainstream currency, not a right. Nonetheless, I still reckon people will be able to mine a fair few burstcoins for a long time to come, even small miners. If people want to upgrade, it is not expensive to buy HDDs compared to ASICs.

    People who are worried about Burst price, and who do not know how they can contribute to increasing it, should immediately read up on a guide such as this https://www.cryptocompare.com/mining/guides/how-to-build-an-ethereum-mining-rig/ where they will learn how to build their own altcoin GPU rig. Then, you can sell your mined altcoins and buy Burst. Black Friday/Weekend and Cyber Monday is an excellent chance to get your equipment at a discounted price. I just did.



  • @gpedro As I said before, I don't want to sound condescending so I won't explain further. But, if you do the math and look at the perspective of selling an asset SOLELY on burst mining, it would reach a peak height, plateaus and then fall down like a bacteria's life cycle.

    Well, maybe I'll say a little xD. Say if you sell this for 100 Burst per share. And then the mining goes a boom! The AE opens. Shareholders buy and sell. Value goes up to 1000 Burst per share after a period of time.

    THEN, the mining reward goes down because of reasons that we all know and I don't have to explain it here. Asset Issuer pay LESS and LESS and LESS and LESS to shareholders. What do you expect from the shareholders? Do they still want to buy 1,000 Burst per share of the asset that pays LESS and LESS and LESS as time goes by? Or Do shareholders like to buy an asset that works and opens up an umbrella company like (Hilton and Pfizer or Google and Facebook (?)) ? These companies work their way to improve the value of their shares or at least make it steady opposed to just PURE mining assets which the dividends goes LESS and LESS overtime.

    I don't know if people see the way I perceive things or I'm just too damn unique for this. I see myself as a non-unique person. I'm just a regular Joe who's just a realist living in a real world.

    XD



  • @jervis I see what you mean but by my perspective you will sell the shares at a medium price of the total amount invested when you are developing the asset right?

    Then after the Asset shares are all sold the free market starts as you well said and because of (usually this kind of assets have) the reinvesting percentage, the value on the free market rises as the amount invested because this reinvesting amount is backing that grown (with more hardware).

    Then when the reward per block is lower, the price start decreasing (or not because the reivesting amount can be enough to maintain the value of the shares, depend on the dimension of the (re)investment, but for the sake of this line of thoughts let's imagine that the reinvestment is not enough to support the difference in the reward per block or/and difficulty increase), then the price of each share start decreasing but if it no longer worth the investment you reach that phase of the safety net that i talk about, what in this cases usually means resell the hardware and repay the shares on the market with the amount collected from the resell of the hardware...

    Now regarding renting on the Marketplace, if you rent the space you have much more possibilities of not having your costumers happy because the lucky factor on mining, unless you do long term rents... Don't forget that they can have a 1Pb farm and have the unlucky of have a really bad week and not hit the amount of blocks expected and let's say you are renting 1Tb per 500 BURST per week...
    As of today, 1Tb supposetly deliver to you 593BURST per week so you are basically offering an expected ROI of 118% per week but the possibility of you being unlucky is bigger, making really hard to figure it out a good price for you to be renting the 1Tb amount of mining power...

    Now let's say that instead of you rent per week you rent per 6 months, the biggest difficulty of calculate a good price for your 1Tb sell is even harder because it's much more unexpected to calculate the difficulty increase on the network, although the lucky factor in this case don't matter much...

    This is the reason i think an asset is much better, just because if you are renting your space in the marketplace there is much more difficulty in do the correct calculations (what can cause people to think you (hypotetical you lol) are a SCAMMER and think that those mining cloud contracts that are SCAMs exist in this coin too, bringing bad reputation to all the community) and delivery a steady and fair deal for your costumers/investors...

    This are my two cents...



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

    Now let's say that instead of you rent per week you rent per 6 months, the biggest difficulty of calculate a good price for your 1Tb sell is even harder because it's much more unexpected to calculate the difficulty increase on the network, although the lucky factor in this case don't matter much...

    I get you bud. I really do. But do you think that releasing this as an asset will be an easy calculation? And maybe we should take out the possibility of this as being a scam just because this is Adam. So, let's scratch that out. Let's just focus on the issue at hand.

    Also, if we stick to the whole exit strategy of selling the rigs and paying off the investors, it's like scamming the latest investors by that time, right? It's all right for the pioneers because they have already gained too much but what about those new guys who bought shares from other shareholders? Let's say they bought their shares for 1000 Burst but then the value of the buyback would be 50 burst. Does that feel good or does that feel you're being scammed too?

    A market would be good for this, in my POV, just because it always deals with what's NOW. The present. A cloud mining or a physical mining is a service and should only be used as a buffer and not a solo gig for an asset. As history has taught us all, when mines were exhausted/halted in the western states, it's the businesses in that area that remained up to this day and only those who own big mines who invested in other businesses are the ones that stayed up until now. Sugar Beets is a good example of that.

    Anyways bud, we could do this whole day or night, it's just our perspectives. Whatever happens next, relies on the beholders. Have a great night bud. :)



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

    Let's say they bought their shares for 1000 Burst but then the value of the buyback would be 50 burst. Does that feel good or does that feel you're being scammed too?

    If there was a buyback and it was at 50BURST a piece i would feel SCAMMED of course... But my point was that if the price of the free market reaches 1000 BURST is in theory because Mining_hardware_value=1000*Total_number_of_shares, that or the demand for shares of this asset was so hight that the price reached 1000 Burst a piece. So my point is that in the first case at that point in time the resell of the hardware should be enough to have a buyback of at least 900 Burst a piece (10% lost in transactions between resell and exchanges)... In the second case who buyed at 1000 BURST buyed at a really bad point in time... It is kind of the ones that buyed BURST at the highest price that we ever hit, so if they did it without knowing what they were doing or they did it knowing the risk they were getting...

    For me the releasing of this as an asset is simple in terms of calculations:
    Total value of Hardware in BURST/Total # of shares = initial price
    the asset have to be released in batches unless the issuer wanted to have his return of investment immediately in BURST, if so all shares should be at the same price...
    Then imagine that the amount collected is reivested in hardware, (what i would not recommend because it would create a dump in price) then the value per share grows taking into account the current value of total holdings of the asset... Instead of reinvesting in hardware i would recommend that the amount collected was reinvested in assets because it would increase the capitalization of BURST and the AE volume of trades?!

    I agree that we could be here until tomorrow and we would had to agree on disagreeing on this buddy... But i really think in the marketplace as a place to sell goods and services but i would not consider mining as a service by the same perspective than you just because when i am buying something i like to know what exactly i am buying, and if i am doing an investment imho that belong to the place where negotiations happen wich in this case is the Asset Exchange but i get your points and i think you get my points too so i guess you will have to agree in disagreeing ;D



  • Yes Please info on the cost of Asset



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  • I seen the projected burst income calculated till we mine just tax fee. The figures just dont add up! Burst would probably have to triple in price after assets are sold to even come close to paying for the operation and paying out to investors. 1 PB is what 10tb x 100 or 8tb x 125 thats a big chunk of change! If I had the resources this is taking I would of helped burst differently.



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

    The figures just dont add up!

    They do not add up, since the specifics have not even been made public, what we have here is a thread full of speculation at it's finest.

    alt text



  • If you really wanted to help the burst community by mining burst. Why dont you mine with 100tb at 10 pools and sell those as assets.



  • Dunno what to say....
    Why are many people scared of this upcoming Giant baby? (including me, maybe) :)
    But, I'm sure everything is good, and everything will be fine.


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