/biz/ - Business & Finance

I don't understand the difference

>>6902814

will this result in the same financial gain as other mining? Should I stock up on HDDs?

>>6902851
First main difference is in energy usage. Normies like to complain that Bitcoin uses enormous amounts of power to keep the miners up and the network running. This could be done hundreds of times more efficiently using PoC.

Second, energy costs going down lead to more people having access to be able to mine and make a reasonable sum as reward for helping secure the network. The more people mining, the more secure the network is because it's more decentralized and less susceptible to attacks from centralized groups of high powered miners like bitcoin is.

This is the future of mining, bitcoin failing at scale has only made it that much more clear.

>>6902937
check out /r/burstcoin

>inb4 leddit

Yeah I know but it's legitimately a good place for PoC mining discussion and questions about getting setup.

>>6902981
What are the downsides of PoC? For example warehouses filled with empty disks.. Or if capacity becomes what is valuable who is incentivized to store the bit coins?

>>6903033

I'll check it out but I'd prefer to get some answers here

If I buy $6k worth of HDDs (like 100TB) how much would I be making?

Are there other coins that are/will be using such a mining setup? So my HDDs will not be useless if burst fails

>>6903156
Downsides are it still uses some energy to power the network. PoS uses less power, but there are arguments to be make that's it's less decentralized.

Compared to PoW not very many downsides besides the fact that hard drives get smaller and cheaper quickly so reselling the hardware would probably be difficult since they are so ubiquitous.

>>6903033
bullshit. you OP a shill thread you sit the fuck down and explain it to us you bloody bich basterd. fuck this pajeet tier spam a meme and fuck off faggotry, it has sent this board to absolute shit.

>>6903341
it still seems like one way or another the energy is wasted.. also can't capacity merely be memed? how does it check? does it try to fill it up?

>>6903193
You'd average about 5k coins over 30 days.

https://explore.burst.cryptoguru.org/tool/calculate

At current price that's about $56

Keep in mind that burst isn't meant for big mining operations, it's meant for smaller regular people to use their extra hard drive space to keep the network secure and make a few bucks for it.

Shitcoins might work with this, but can it scale?
Wouldn't you need an infinite ammount of hdds to secure a volume like bitcoin's?

>>6903402
>>6903343
lol this is obviously a shill thread to help educate you fucks

yes energy is "wasted" no matter what to keep any crypto network secure.

The value of PoC is that is uses HUNDREDS OF TIMES LESS energy than PoW coins because HDDs consume less electricity than graphics cards and ASICs.

The mining software maps your drive so there's no tricking it to thinking you have more than you actually do.

>>6902937
>>6902814
why not use SSD ?why not use ram disks?

>>6903478
Nope, check out the Dymaxion whitepaper.

https://dymaxion.burst.cryptoguru.org/The-Burst-Dymaxion-1.00.pdf

It's a layer on top of burst that solves all scaling issues.

This + PoC means burst is going to be the most technologically advanced coin in a few months.

Don't say I didn't warn you guys.

>>6903545
>>6903441

still a $6k investment for $56 a month back?

>>6903562
You can use a SSD, but it won't really help you. HDDs are cheaper so they're used more.

>still far inferior to PoStake or delegated PoStake
LOL

>>6903636
$56 right now.

5000 BURST.

Many in the community see BURST hitting $1 this year.

Your call.

>>6903612
So it will be vulnerable to 51 attacks very easily
Yes, it may be expensive, but down the road, someone will do it if it gets too hot

>>6903676
so i/o is not important and you only need read ?

>>6903699
PoS and DPoS are inherently less decentralized. Eventually politics get involved and it sucks for everyone.

>>6903545
that's fine thought you might have just left us hanging like the pajeet... anyway i'm a bit slow today will need some time to think about it, off the bat it just seems like a capital contest, who can buy the most HDD up front and leave them empty, third world shit holes BTFO..

>>6903723
Well in this case a 33% attack

>>6903562
higher $/GB

>>6903859
what is i use magnetic tapes.

>>6903723
The fact that HDDs are so inexpensive is actually what makes a 51% attack so unlikely.

The barrier to entry to mine is so low that it keeps the network secure as more people are able to mine in a decentralized fashion.

>>6903742
It's just that speed doesn't play a huge factor. The important bit is the size of your drives.

>>6902981
>Normies like to complain
Dropped. You suck at marketing

>>6903880
What about the "bad signature" problem?
I read it uses a better way to deal with that than IOTA, but didn't understand why

Why is this better than a hybrid pow/pos method, like the one intended for bitcoin after the 21mth?

>>6903033
Burst community is great. just people talking about the project and mining and technicals; no corporate sycophant "downvote-FUD" army

>>6903840
The idea is to avoid most of the large scale mining farms like we have with PoW

HDDs are so commonplace that it's not worth it to setup a farm. The concept inherently incentives small/medium sized miners.

>>6903902
Cool man, hope you at least still give the idea of PoC mining and how it's different than PoW and PoS some thought.

i can't wait for hard drives to become as gougingly overpriced as video cards are now

>>6903718

what other coins could I mine?

>>6904075
Good idea lets invest in Seagate.

>>6903341
Hard drives can't mine currency.
Stop with this retarded bullshit, somehow you always exit thread when I mention this.
Nice try though.

>>6903441
You're reading that wrong, that calculator says 56$ for 5tb and for 1gb and for 100tb, it doesn't auto update the amount it calculates to usd

for 100tb it'd be 5520 byte (273$ per 30 days at current price).

>>6903949
I'm not sure, are you referring to something in the Dymaxion whitepaper?

I'll be honest I don't know very much about IOTA or DAGs, only that the tech being worked on as a second layer solution for BURST is going to implement transactions in a way similar to IOTA.

>>6904050
>large cloud computing centers and servers now use their unused storage for this

>HDD become more expensive
>Ram and SD card and other flash memory also increases


the question is would it effect magnetic tapes

>>6904163
Hey, you're right. Even better!

>>6904149
They...are literally doing it right now? Why not setup a miner on your HDD and see for yourself?

Ait I wanna spread BURST love; first three people to post their wallet get 25 BURST

>>6904008
So the idea is there will be no profit to be made in buying a HDD for the sole purpose of mining this shitcoin?

>>6904183
>large cloud computing centers and servers now use their unused storage for this
Should have stopped there, this is a huge problem since they can pretty much mine the whole stack in minutes if the difficulty is adjusted for the average user.

If it isn't though, there comes another problem, centralization

>>6904183
What's tape GB / $ right now? AWS looks negligible vs HDD, especially considering electricity and shit like real estate, heat, noise etc

>>6904210
Fucking HOW

But I'l bite out of fomo, is 500$ enough for some land, a house and an s2000 if this hits btc cap level?

>>6904243
well it still has to be worth it... are they large cloud computing centers or shitcoin miners?

>>6904149
I'm doing it on an old 1tb drive as we speak.

>>6904228
No there will be profit to be made, but instead of
(not real numbers) 10 massive warehouses of nothing but mining equipment, we'll see 1000 small apartment miners and 100 medium miners using rented storage space or something.

Use POS.

Fag

>>6904331
>s2000
good taste anon

>>6904390
BUT HARD DRIVES DON'T PROCESS ANYTHING

>>6904393
If there is a profit to be made why wouldn't I fill a warehouse in bum fuck nowhere with as many hard drives as can be supplied

>>6902814
interesting concept op but how does this fuck those gamerfags over profits is just half of it, gamer tears is the other half

>>6904331
current mcap for burst is $88m

current for btc is 196 billion

1 BURST = 4 cents = 400ish sats right now

I can't say for sure but let's just say....I have a lot of BURST. Obviously.

>>6904177
I'm refering to the classic pos problem, when stakers double validate. Usually the "bad signatures" are slashed, but a large scale synced attack could force freeze the whole thing (possibly forcing a fork like eth)

Look up the byzantine fault tolerance

>>6904424
lol dude burst has been around since 2014.

Coins have been mined using hard drives since then.

>>6904441
For now I'd say because HDD tech is always getting better. Your drives will always be limited by their size. As the rest of the market buys newer (bigger, slightly cheaper) drives it'd be hard to keep up with the economics of it at that big of a scale.

>>6904622
I have no fucking idea how that's possible.
A hard drive goes BRRRRRRRRRRRRT HRHRHRRRRRRRRRR and writes and reads things magnetically.
How the hell do you use that to mine coins?
Don't you need processing power to do that?

>>6904685
mmm yes

>>6904424
I don't know why you are yelling at me? I'm mining coins on a hard drive. That's all I know.

>>6904737
My life is a lie.
I thought hard drives are only used for data storage.

You need over 100 TB to make 100$ a month.

>>6904766
this thread is about using them for consensus

>>6904766
I could explain it if I was smarter, but I'm not.

>>6904713
Well, technically you just need to write on a book who owns what to have a track of value

I supose they go arround the problem of "fake writting" by forcing x different hard drives to write the same things.

>>6904210
>>6904163
>270$ for a 6k investment
it's only gonna take him 2 fucking years of non stop mining to get back into the green zone lmaooo

>>6904843
>implying the price of burst isn't going to go up

>>6904843
yeah only worth if you have extra hdd space doing nothing,

>>6904163
It returns 27.3 cents per GB per month?

>>6904940
>most it's been up to is 11 cents.
It's not going to do anything anon

Mining burst is cool and all.
I'd watch Chia at school tomorrow.

my buddy just bought 60tb of storage to "mine" his coin, lmfao

>>6904991
i was merely pretending... 2.73 cents

>>6903033
You fucking racist. PoC are not your little pawns to be locked into hard drives like it’s 1840. And for the record your little online buddies club is pathetic

>>6905082
theres literally no reason to even do this.

>>6905064
Your buddy is going to be rich soon.

He'll have 20kish coins by the time the devs implementing new changes on their testnet.

>>6905118

YFW the only reason to do it is the biggest reason I’m the world. To not let the Jews, chinks, or gubments control the currency. If every faggot with a PC, laptop, and phone mined BURST there would be no central powers.

please tell me this isn't only on yobit

Dude what the fuck is the point of this? It doesn't do anything. Why would you need a million hard drives? What purpose does it serve except to demonstrate that you already have a bunch of hard drives or are willing to waste money on them?

>>6902814
they are kinda full of shit, since producing hard disk space for local use has one of the worst environmental footprints of all.

deceptive

>>6905201
How does a retarded like me mine burst on phone?

>>6903545
no this is a thread for the sharks who have accumulated Burst to shill it and dump it.

>>6905253

>electric cars
>conflict minerals
>coal power
>heavy ass electric cars literally burning up rubber(you have to constantly replace the tires)

>>6905253
this was my first thought exactly. A bit like electric car hype when lithium mining is literal cancer

I guess as it "scales" you'd need less and less storage space

>>6903718
You idiot.... Burst is at roughly 5 cents tell me how you are getting $56 from having 5K BURST? You idiot.

>I currently have 11K BURST

>>6905330
I downloaded burst, not worth it, cool idea, not environmentally friendly as sold, but cool community. This just a shill thread for accumulators tho. Also it's had its share of drama, DYOR.

>>6905313
agree the most evironmentally friendly car is an old ass truck cut people slack that don't waste their shit and buy new shit, they are the true evironmentalisfs not the hip hybrid drivers. Sorryz

>>6905390
Yeah someone else corrected me too, you're right.

>>6905215
see >>6905201

>>6905253
That space was going to be there anyway though. PoC is using the space you already have to mine.

>>6905118
This... Went over a few calculators, storage pricing, cloud pricing, can't get it to work economically.

Storage you're not using anyway maybe for a few bucks a month, not taking power into consideration... This is truly a coin for pajeets who fucked up buying too much storage

>>6905520
Demand will create more hard disks as price increases man. Then supply of hard disks increases fo meet demand. Then more shitty mining to get raw materials to make HDDs. Cycle continues.

>>6905468
>This just a shill thread for accumulators tho. Also it's had its share of drama, DYOR.

Yeah to be clear, I am full on a shill. I want more people to get involved with BURST.

But I'm not some big giant whale or anything. I've got about 25k BURST and obviously want to see the price go up, but that won't happen without real community-building and adoption.

On the drama, yeah man I hate some of the drama the community has seen. It's mostly all petty bullshit but I think with the new dev team (which i admit has some PR issues) it's on the right track to build something exciting.

>>6905507
To me what we will see as the environmental answer -

Solarcoin + ElectricChain

They will find a way to integrate POS into ElectricChain. Then, we generate solar to earn, collect, and stake solarcoins.

You wanna save the world, buy Solarcoin. Mofo NASA and MIT.

>>6905201

This is the same kind of dumb fantasy that powers "if everyone stopped eating meat then there would be no suffering"

>>6905603
you don't sound like the cunty sort of shill. good luck to ya.

>>6905330
>>6905313
>>6905253
green energy is one of the biggest scams out there,and you are a new fag if this needs to be pointed out.

>>6905507
this guy gets it

>>6905638
faggot alert

>>6905638

I don't think anybody is going to buy solar panels just to mine a shitcoin

>>6905719
all the same author (me), try again sometime to have a thoughtful opinion. it takes work you aren't willing to put in.

>>6905763
that's not how it works.. you get paid solarcoin for producing solar electricity, you can speculate on it, but.. goddam /biz is hopeless.. go back to sucking your own balls while others save your ass.

>>6905638
That's unironically a good idea.

Also newsflash to the ICEfags getting cucked by Big Oil: YOUR GAS POWERED CAR ONLY GENERATES 4 KW/H LESS PER MILE PER AN ELECTRIC CAR MILE. After factoring in the many phases and crap needed to convert oil. Do you guys think gas just comes out of the ground of the gas station? Also, lithium mining isn't that bad. That one picture that circulated around was in fact a copper mine, and propaganda by BIG OIL

>>6905877
Irrecoverably R E K T. Nice anon.

/thread

>>6905790
>>thoughtful opinion

solar energy is nice, it has a some applications in certain environments that make it worth it, but in any case with solar energy or any other green energy your are taking a barrel of oil and converting it into a green energy product that will release that energetic equivalent over the course of years or decades, , not much extra energy is added to the system.

>>6905877
Mr Musk, please send Solarcoin on a moon mission by buying it all, then force people to accept solar since the environmental ramifications won't get them off their ass, but he fiscal incentives will.. then they can exchange it via POWR and buy into your battery farms, since you will by then have added POWR to your portfolio. Thank you for giving a shit about the eco-nomy. I see a Nobel Prize in your future, not that you'd worry about that.

>>6906013
the assumption is that the exponential tech curve of solar will go parabolic and viability of solar as the primary source of energy to power the planet is met overnight.

>>6905719
I'm literally saying what you just said, call me a newfag one more time

>>6905638
Look into Envion nigger

>>6906014
SpaceEx Great Wall solar panel orbiting Mercury when? Beamed back to Earth via wireless Tesla Towers

>>6906178
Wrong pic

>>6906178
faith restored, we might just make it

>>6904212

Reported.

>>6906074
is this a larp? serious question, what kind of odds would you give that?

give this gut a look see
https://www.youtube.com/watch?v=maxCyt8GH-4&t=821s

>>6906115
sorry anon

>>6906521
100%, just a matter of time and RnD investment.

>>6905091
sensible chuckle