Best way to 1million Burst ?



  • Goodmorning,

    I woke up with the idea of owning 1million Burst. I always wanted to be a millionaire.
    What would be the best way to get to that ?
    Just buy them ? Where are they the cheapest ? Or is it better to mine them ?

    (For now I'm only mining 1.5TB)

    Hope to hear your ideas!



  • @jynson and a fine day for you as well sir!

    Here's my 2 cents : i think buying them right now isn't the best idea. The price is a tad pumped up and doesn't reflect the current value of the coin. I'd wait for a drop to start buying. But that's just me...

    Now, the real question is how fast you need/want that million? If you're not in a rush, keep on mining, maybe use the faucets from time to time, install the surfbar from burstcoin.biz , and invest your earnings, or part of them into assets. They will bring daily/weekly/monthly dividends. With assets you get to keep and even increase their value, plus enjoy the free cash they bring in every now an then. Take that cash and re-invest it into what you see fit. What i just described to you is called compounding interest. Long term, there is no greater financial force than compounding interest, and if you can add a little bit of cash from time to time to accelerate the process, you will retire a king.



  • @jynson I don't agree with @nameless in just one point: " i think buying them right now isn't the best idea. The price is a tad pumped up and doesn't reflect the current value of the coin. I'd wait for a drop to start buying."

    Yesterday was a big pump on the price and burst hit the 80 satoshi level what was about 1.5x the price of the day before, i agree that you should wait a day or two to see what happens in the exchanges like Poloniex and C-Cex, now it's like 65 satoshis and i think it will keep in this level for at least 4 or 5 days, then it should go up a little bit again like has been happening in the last 6-8 weeks... i seriously think that Burst will rise over 100 satoshis until christmas and will give a big gift to all of us xD

    But @nameless is an experienced trader and I am just one guy that entered in this crypto things almost 3 months ago, so you probably should pay some attention to what he says and don't pay much of what i say regardeless to trading xP

    For now i think you should keep mining, claim in the faucets (faucet.burstcoin.pt , faucet.burstcoin.info , faucet.burst-team.us), use the surfbar (you could use my ref link if you want: http://burstcoin.biz/surfbar?ref=1452 , i appreciate it ;P), and invest in assets like he said... I've been doing all of this for like two and a half months and i already gather more than 150'000 Burst, and i am with the same thought that you are: reach a million Burst and when Burst hit 1$ i have a million dollars right?!

    Happy mining?!



  • As @gpedro said, i am an experienced TRADER . But my specialty are forex and stocks. I don't do much crypto trading because it's very hard for me to predict. The way i look at burst price is somewhat analytical. I look at the AE volume, mining total TB, forum engagement, btctalk engagement and a variety of factors that determine me to get an assessment of demand and supply. My conclusion for now is that 50 sats a piece is a fair price, but as @gpedro said, we might hit a stable 100 till christmass. But imo for that to happen, we need to push hard and keep being an active and supportive community like we are now.

    At the end of the day, price is relative. Wether you're a trader like me, or investor like @gpedro , it's up to you to valuate and speculate what the true value of this coin is. But then again, after taking a closer second look at what you wrote, you don't really care about the price, you care when it is a good time to buy if you are to do so. If you believe in the coin long term, any price is good 😃 . We're all routing for the dollar a piece, and it might happen someday, so your current investment would be pennies per coin and years from now would be dollars. I hope i'm making sense.

    So to sum it up, if you're long term and want to buy, buy whenever you feel like doing so. We're all going for the dollar together.
    And regardless if you buy or not, it's worth doing what @gpedro and I pointed out with the faucets and surfbar. And if you go for the surfbar, please use the link the man gave you. You have nothing to lose by doing so, and you're bringing and extra burst every now and then into his wallet without having to lift a finger. Hookers ain't cheap you know... 🙂



  • @jynson these two fine gentlemen are right on the spot on investing (aquiring assets). I see that you're in for the long haul, so buy from time to time, and mine as long as you want. I make it a habit to buy burst from trade from time to time. I feel I have a part in the market movement by doing so. Whatever the price in the market is because right now, it's almost irrelevant, the price is if I'm only buying a couple of thousands. But, if you're buying hundreds of thousands in one go, then, wait for the price to move a little bit downward. 🙂



  • @nameless thanks for the support... you're really a nice guy xD and you are absolutly right hookers ain't cheap LOOL



  • @nameless Not to get too side tracked but what is your opinion on the bond market right now?



  • I only partially agree with the sentiment on purchasing burst. We all saw the spike in volume and price over the weekend, Burst was up in the 80s, I believe there will be a correction in the value but I expect the days of Burst for 50 Satoshi each are gone, I'm expecting us to be in the mid-60s AFTER correction. Why? Strength in assets. Look at what is available and how well it's performing. Burst on whole I believe is severally under valued. Of course it won't be market correct in a day or even a week but I could easily for see Burst at 100 each by year end. Look at STORJ for example, an alt coin that is valued on "cloud" space rentals via distribution model. This coin is currently trading at 32K.

    $1 USD buys today about 2K Burst. I say if you believe in the coin and you can afford to, I would purchase maybe $100 to get your feet wet. I know that my wife and I spend $100 on dinner on a random Friday night and then another $60 on the baby sitter, to me a completely worth while investment.

    Continue to mine, you will slowly accumulate, invest in solid assets (read the forums, there are lots of details available). You will get to a million, the question is how?

    This advice is presented by someone that holds well over 1m BURST and wants the coin to be reflective of it's actual value based on tangible assets. There are many assets to look at include, ByteEnt, BurstTeam, IBMining, Silver just to name a few.

    Time for another cup of coffee.

    -IceBurst



  • @nameless @gpedro @jervis @IceBurst Thank you guys for your feedback!

    I was already doing the faucets and the surfbar (but I get a lot of errors on the surfbar).

    Just ordered a 8TB harddisk to get things moving!

    If I wanted to buy burst , whats is the cheapest way ? Poloniex , but you can't deposit euro or dollar. So I need to buy bitcoin first.

    Have a nice evening!



  • @jynson

    You are correct, there is no direct conversion from Euro or USD to Burst, not until we are on shift.io. You will have to go the route of Fiat to BTC to Burst, You get to pay that extra transaction fee of .2% but in the long run it's truly just a nit.

    -IceBurst



  • @jynson Cool man... post your errors on he surfbar or contact me and i will advise you the best that i can?!

    Happy mining!!!



  • @jynson said in Best way to 1million Burst ?:

    @nameless @gpedro @jervis @IceBurst Thank you guys for your feedback!

    I was already doing the faucets and the surfbar (but I get a lot of errors on the surfbar).

    Just ordered a 8TB harddisk to get things moving!

    If I wanted to buy burst , whats is the cheapest way ? Poloniex , but you can't deposit euro or dollar. So I need to buy bitcoin first.

    Have a nice evening!

    the way i did it was with localbitcoin or something like that or people do coinbase to buy btc. Then transfer the bitcoin to polinex, then buy burst on polinex. I know it's a mouthful but with practice, it's will just take less than 15 minutes.



  • @jervis Yeah that's the way I do it for now, buy from coinbase, transfer to poloniex, buy Burst 😛 it's not that hard.



  • @Zeus said in Best way to 1million Burst ?:

    @jervis Yeah that's the way I do it for now, buy from coinbase, transfer to poloniex, buy Burst 😛 it's not that hard.

    @jynson see, even Gods (zeus) do this kind of services. 😛



  • @jervis LOL



  • Price just went up to 90 , Not a very good time to buy.



  • @socalguy said in Best way to 1million Burst ?:

    @nameless Not to get too side tracked but what is your opinion on the bond market right now?

    I'll do a short side track 🙂

    Bond markets are shit, always have and always will. Unless you're into junk bonds (look those up) . Those are awesome but dangerous tools to trade.

    If you want a steady increase with decent returns just buy into indexes like sp500 or the more affordable russell 2000. For that matter, any index that has been around for more than 30 years. There's no losing with those. Even if they have a streak of a few bad years, they always come back on top. There's a reason why all wall street hedge funds are trying to beat the indexes, and fail miserably.

    Oh and the main reason i'm against bonds is their growth rate. They barely pay a fraction of the inflation increase. Overall people are actually losing money because the dollar you invested today, is worth less next year due to inflation. And bonds investments don't help at all on the matter.

    And regarding junk bonds, my very best investment in those was a company called Nordic Shipholding. A Danish-Swedish company on the brink of complete bankruptcy back in 2014. I bought a ton of their shares and bonds and sold out half a year later at 3000% 🙂



  • @nameless Always learning with you man?! xD



  • @gpedro always happy to help 🙂 . I don't want to grow old and rich alone.



  • Although most of the time I don't understand what @nameless is saying, I'm trying to pay attention to this guy. Thanks man. You are like dumping a gazillagig of information in my 256mb brain. 🙂