The future of Burst... where is it going


#1

I am a newcomer to burst, but not to life; an mechanical designer, inventor, machinist, and computer hobbyist…

I am really serious about this crypto currency concept… and after being involved in it for a month or so, I can see many things that need serious attention. And since I am an older fella, looking for ways to help my family before I take another journey in life… I would like very much to talk with a few of the top people, developers, programmers about the future of BurstCoin. Where its going… what are the plans in that miners won’t be able to mine coins for that much longer.
What happens after that?

I am interested in investing a lot of my time and possibly money into a project, but it needs to have some lasting capability… if not indefinite, and ability to make some significant earnings, not just token earnings. And from what I am hearing, burst’s time may be over 3/4ths of its way out… before it even gets started which seems a serious impediment to its lasting capability. What can or will be done to insure longevity of this project. Basically, I need to know some of the deeper plans for this coin. Im not interested in being part of a project that is destined to die in a few months no matter what happens.

Also, without throwing any negativity in the mix… it might be better to start a generation II coin from the ground up (going along side project 1) and build into it the improvements without the parts of the program that keep it from being what it should be. In other words, sometimes its better to start over entirely with a new version,than try to fix a broken wagon. And get some fresh blood into the new version who can see things from outside the box so to speak.

I live in Eugene Oregon. And would appreciate it if I could get some of those who are in the know… (not those who just have an opinion to tell) to contact me and share with me some incites.

I can be reached at leslieallen007@protonmail.com And I would appreciate total openness, frankness and honesty. I am a mature man of 64, and don’t want to waste my time with underlings who just want to blast off complaints. Complaints are nice… but I need some meat first.

Most respectfully LeslieH


#2

I wish you luck in your request but the likelihood of a top developer or programmer taking the time to contact you (a computer hobbyist) directly to sell to you the justification or reasons for the coins continued development seems unlikely. You would probably be better off just spending time researching the forums as there is a lot of information available.


#3

https://www.burstcoin.ist/2017/12/27/the-dymaxion-explained-in-laymans-terms/


#4

https://explore.burst.cryptoguru.org/chart


#5

As the block reward amount drops by 5% each month it will take a very long time before all coins are mined, but there will also always be fees for the facilitation of the transaction.


#6

I’ll have to agree with @jaxblack post above, that it’ll be difficult to jump into a direct conversation with the current development team. However, there are a few links that should be able to start you off answering your questions. If you are thinking just in terms of mining, and miners selling coins back and forth to each other, this is not where this project will be going. Mining will continue indefinitely, but is not the focus of the project. There will always be miners if there is Burst to mine, and there will always be Burst to mine…from the transaction fees once the block rewards end. Anyway, onto some history and plans:

Hello to our new developers.
https://bitcointalk.org/index.php?topic=2080040.0

First big changes and plans revealed:
https://bitcointalk.org/index.php?topic=2653474.0

Current plans through this year.
https://dymaxion.burst.cryptoguru.org/The-Burst-Dymaxion-1.00.pdf

(Also jaxblack linked a layman’s terms summary of this whitepaper above).


#7

Thank you for all your input. No… I am not just interested in mining… although… since I am doing some mining now… and I want to make some retirement benefits for myself and my children… I was looking to see if getting involved with crypto currency would be a viable thing to do. And I do have quite a bit of knowledge and time tested experience in taxation and legal avoidance strategies… so crypto currencies is an obvious thing to do to protect your assets… that is if the crypto you are working with is setup right with longevity in mind. Of course this all depends on the developers knowledge and capabilities.
Anyway… I am looking to get involved more intimately in a project… more than just mining. I want to delve into the entire scope, theory, and working principles and operations. If nothing else… sitting in on the brainstorming sessions for possible future input if warranted. I do have some experience in interface design, and see where this is something that is sorely needed in my entire experience with Burst so far. Although… because I am new… I don’t want to step on anyone’s toes, as I know what happens in forums when someone gets offended or their nose bent for some reason… even when it shouldn’t happen. And must not happen in the developers circle.

So thanks ryan…I will look over the materials you have provided. If you can supply me with some very detailed info… books, papers etc… I would be very much elated.
Leslieallen


#8

although the coin market says the value is way down it is a good time to invest. Either by purchase , mining or both. The work difficulty of mining many coins suggest purchase than mining for cheaper acquisition but either way whilst down it will blossom in the future.


#9

Guys, explain me something. When all blocks are already mined, are we going to need so much TB just to “sustain” the network or all the hard drives we have are going to be pretty much useless ( for Burstcoin purpose ).

Thank you :slight_smile:


#10

Here is my understanding,

Blocks will always be mined, but the block reward(new coins) will drop off to nothing. Eventually it will just be the transaction fees that are rewarded to the miner, to facilitate other peoples transactions. The $ value of burst coin (or perceived future value )will determine how many people are interested in continuing to mine (facilitate the transactions at this point). It will most likely just become a case of supply and demand. If there are way too many miners compared to the value of the coin, then i would suspect many will leave for other, more rewarding use of the storage space, examples would be Sia Coin or Filecoin or perhaps just use their space for porn… The blockchain network could be sustained by as little as one computer i think, but then the whole point of a decentralized network is lost .


#11

the idea of block mining is to use those blocks to invest in hardware and or asset ventures.
Fundamentally when the burst blocks are gone and transaction fees remain there should be enough miners and nodes to continue without reliance of block rewards to function.
Anyone can invest in Burst by purchasing the coins, avoiding mining costs and taking up the volume of available coins into their wallet. By this the coins will increase in value due to demand of a smaller base of available coins.
If everyone treated burst coin like diamonds they wouldn’t pump and dump them. They would seek to ally with other burst miners, enthusiasts and investors to regulate trade when its beneficial to the coin and not just to dump it. Assets would less likely fold and more refined means of transactions would emerge such as a debit feature could be devised for everyday bank keycards or burst A.T.M’s than bitcoin ones.
Bitcoin is where it is due to lost coins that will never be recovered. It acts as a means to regulate its baseline and difficulty where idiots lost them to their perception of a mere FAD their perception of the blockchain and serious mining operations took precedence. The days of it when it was difficult to cash in are over and so many people have already lost their passphrases or had them hacked saying “I wish I thought ahead”
Learn from the mistakes, avoid the scammers and try think 10 years ahead for burst operations when investing it’ll pay off fairer with a more reasonable trade price and stable network profitability than loosing it to high rollers and the blockchain. heck a lot of bitcoin is scammer reserve. Eventually bitcoin will be just too expensive to mine drop out and Burst is a relative.