Is The Party Going To End Soon



  • So I was randomly click on links at http://burstcoin.biz today and and came across this interesting graph. It reflects the total amount of Burstcoin everyone has mined so far which is a lot I think. According to the graph, over 1.5 Billion Burstcoins have been mined so far? What really caught my attention is how much is left to mine.

    burst graph of what has already been mined

    What happens when all the burstcoins are mined? Will there be more after this batch is done? Where is all the burstcoin that has been mined? Is the mining party going to end soon?

    I just got started...
    alt text



  • @socalguy your gif's are really something. 🙂 IMHO, when that scenario happens, and it will happen in the future, mining will be based on payments per transactions. I don't know if I'm right. I'm just analyzing to the best of my abilities. So, every transactions made, fees that are taken will be given to a lucky winner like a lottery, or a pool. Well, devs have plans but it's always good to hear what will happen if the scenario like that took place. 🙂


  • admin

    @jervis You are right. The design is that transactions fees per block will be higher than the mining reward in some years. Same like with Bitcoin only faster.

    @socalguy The mining reward has the character as a bonus payout for distribution and incentive to build up the network.
    It is a decreasing function with 5% less every month:

    0_1473157935798_reward.png

    One could argument, that the pioneers mining Burstcoins have had an unfair advantage, but most of us put at least equal or more time and effort in it than ever could be mined the last 2 years. If I wouldn't have mined but bought the coins now I could acquire a very similar stack of coins today with the same money.

    Many of the big miners in the early days sold all of their coins on the exchanges and helped to distribute the coin to many people and pushing the price down. I think Burst is one of the best distributed Coins out there:

    https://web.burst-team.us/wp-content/uploads/2016/05/balance_distr.png (Source Burstcoin.biz, old picture) See also Richlist... http://burstcoin.biz/charts/addresses-by-balance , individual with the most Burstcoins has under 2%)

    I honestly think that we are still in a high inflation phase but slowly Burstcoins get rarer and therefore price climbs up. There are no plans to change the fundamentals of Burst and I'm pretty sure there will never be a majority for it. Anything else would be no better than national centralized currencies.

    This is it. These are all coins and I count on it that in 2021 and later the transaction fees per Block will reward the miners generously. Maybe only 200 coins per Block, but for a much better price.

    alt text



  • Awesome ! The future is still bright 😉



  • alt text

    @daWallet wrote: We are still in a high inflation phase but slowly Burstcoins get rarer and therefore price climbs up.

    I agree with you there. As burstcoin becomes more and more rarer the price can go up. It also appears, according to the Poloniex trade history, there are more people buying Burstcoin than selling which is good I think. As more and more people hold Burstcoin the more and more it grows its value.

    There are many different ways, who are new to this coin, can grow the amount of Burstcoin they can have in their wallets. Sure there is mining with our hard drives, Surfbar, and four faucets (I think) that are available for those that are just starting out. I think if there were more and easier ways available for new people to grow their wallets, the value of Burstcoin would grow. Which is what we all want for the coin.



  • @socalguy don't forget all the good assets in the asset exchange, they can help newbies grow their burst account 🙂



  • This is excellent reading material. And it make me happy to know and have an idea about the value of burstcoin.....Are there other alton coin that are similar to burst in price/markets?



  • @Propagandalf As a fairly new person to Burstcoin, I started out with nothing and it also took awhile to get the mining thing working. As of today my mining is still going good but I kind of wish it generated more so I can put the burstcoin into assets. This way, there is more than one way I am making coin.

    I think newcomers would adopt quickly if new accounts had simpler ways to generate coin.



  • @socalguy I started out the same way too. With my 6,5 TB mining I get a few hundred coins a day, my surfbar account gives me about 200 coins a day, and that alone is enough to buy some assets here and there. Some of the assets sell as cheap as 10, and others are around 100. If you invest in trusted and popular assets odds are you will be able to sell out again at a later stage for the same or more than you bought them for. Essentially you are wasting your profit potential by not using your earned burstcoins to buy assets.

    It is simple to use the asset exchange, and even someone who only uses the surfbar as a means of earning Burstcoin, can buy shares. Heck, even fauceteers can do that, lol 🙂

    https://forums.burst-team.us/topic/637/use-btc-faucets-to-purchase-burst-coins here you can find many ways to generate more coin. 🙂

    Also, you can look into creating cloud storage accounts and create plots for mining there. It is complicated, and does not earn much unless you have an insanely fast internet line, but it all helps!

    Finally, you can try your luck in burstgames.com. It even has its own faucet.



  • @Propagandalf what are some good assets right now I can purchase with Burst?

    I only have a few with Dynamix so far.

    thank you



  • Just off the top of my head I can think of Bsilver, StupenA, Burstaker, ByteEnt, Bursteam, IBMining, Bcapital, Vector, Margin. You already have Dynamix. Do some research on each one by checking out the section https://forums.burst-team.us/category/6/asset-exchange and finding the right thread for the particular asset you are considering to buy.

    Also, it is usually better to buy the assets while they are still being issued by "asset issuer". That is because time has shown that almost every asset has so far increased in value after the "issuer batches" have been sold out. You can hold your shares and just receive dividends, or you can wait until they (hopefully) increase in value, sell them, and maybe buy some other assets. 🙂 It works like the markets in exchanges, just so you have something to compare the mechanisms of the asset exchange with.

    The party has just started 😃



  • Yes, as @Propagandalf says. 🙂 I buy assets from some of these too. They're good assets. But the greatest asset is always what you believe in. 😃



  • I think we'll be fine, mining should be good for the next 10 years. I expect the Burstcoin price to increase as the blocks rewards reduce overtime.



  • @RiskyFire said in Is The Party Going To End Soon:

    I think we'll be fine, mining should be good for the next 10 years. I expect the Burstcoin price to increase as the blocks rewards reduce overtime.

    I just noticed, it's LEE! What up man? I like to watch your videos. Thanks for those very educational videos. Keep it up. 🙂



  • @jervis Hi, it's great to hear you got some value from my videos, thankyou I appreciate the feedback.



  • @RiskyFire said in Is The Party Going To End Soon:

    @jervis Hi, it's great to hear you got some value from my videos, thankyou I appreciate the feedback.

    I very much enjoy your videos as well man, I think I've even donated some coin to you. In fact I'm feeling generous, go ahead and post an address and I'll send ya some more coin over!



  • @RiskyFire The first time I had the chance to know about Burst, it was because of one of your videos on YouTube, so I'm also a fan haha Thanks to you I've found Burstcoin, and this great community.



  • @crowetic Thanks for your support and all that you do for the community of Burstcoin. Any tips are welcomed, I pretty much spend everything back into crypto so its going to a good cause 🙂
    BURST-N8KB-DKKW-9C4W-AF289



  • @Zeus said in Is The Party Going To End Soon:

    @RiskyFire The first time I had the chance to know about Burst, it was because of one of your videos on YouTube, so I'm also a fan haha Thanks to you I've found Burstcoin, and this great community.

    Awesome! Great to have you here and I love what your doing with the Burstcoin Games site & its assets.



  • @RiskyFire I've watch your vids on Youtube. I aspire to create a Burstcoin mining setup just like yours. Thank you for the great content! 🙂