POOLS & Killing Interest



  • I've been mining for over a month now and see a disturbing trend arising from miners with higher TB drive capacity. Most are consistently winning or taking a larger share of the Blocks while leaving little to the smaller miners to win.

    Aside from being a major turn-off, (I ask myself "why compete?"), I also see the potential of losing this process to larger and larger TB drive sources.

    I understand the equipment investment made by some to increase their mining capacity opportunities, but if it starts limiting the opportunities of the smaller miners (i.e. me), then I see this process losing ground and becoming just another control process that will eventually be taken over by the few and the powerful. Given the nature of this business, I'm not sure this will be a good direction for Brust.



  • Very valid point! I'm also curious how the community/devs see this process.



  • Hi Guys,

    Unfortunately, when you speack about money, big players come.
    Its a fact, same thing will happen with every new business where you can make money...

    Ben



  • I'll try to liken this to BTC: Back in the early days you could win multiple BTC with a single graphics card per day. With the increased difficulty and presentation of larger miners/farms you have to fight to get a fraction of a BTC (7 years later). Consider yourself lucky to have been in early on Burst and amassed probably a nice collection. If you discontinue mining the only one you will hurt is your self and here's why:

    1. You stop collecting Burst, if it was 1 a Day or 10,000 a Day your ability to collect stops
    2. You feed the machine of centralization by not being part of the solution
    3. As burst is used more frequently for transactions you will not be able to receive part of the transfer fees.
    4. It was probably empty drive space and it's low energy so mining has virtually no cost to you

    This is why I am so passionate about the Android app, it builds mass decentralization. I have also noticed a ramp up in the transaction fees paid to miners, 6 months ago we would go many blocks without a single transaction, now it's becoming rare to see a block with no transactions now it appears typical to have 2 to 5 transaction fees per block. Yesterday I saw a block with 50+ on it. That is a nice bonus. Should you or the pool hit it.

    As a case and point I have a miner that is 28GB total, it typically yields 1 Burst a day if I'm lucky, but it helps with "spreading out"

    Your ability to amass and invest early is what could provide for many opportunities later.

    -IceBurst



  • @IceBurst said in POOLS & Killing Interest:

    I'll try to liken this to BTC: Back in the early days you could win multiple BTC with a single graphics card per day. With the increased difficulty and presentation of larger miners/farms you have to fight to get a fraction of a BTC (7 years later). Consider yourself lucky to have been in early on Burst and amassed probably a nice collection. If you discontinue mining the only one you will hurt is your self and here's why:

    1. You stop collecting Burst, if it was 1 a Day or 10,000 a Day your ability to collect stops
    2. You feed the machine of centralization by not being part of the solution
    3. As burst is used more frequently for transactions you will not be able to receive part of the transfer fees.
    4. It was probably empty drive space and it's low energy so mining has virtually no cost to you

    This is why I am so passionate about the Android app, it builds mass decentralization. I have also noticed a ramp up in the transaction fees paid to miners, 6 months ago we would go many blocks without a single transaction, now it's becoming rare to see a block with no transactions now it appears typical to have 2 to 5 transaction fees per block. Yesterday I saw a block with 50+ on it. That is a nice bonus. Should you or the pool hit it.

    Your ability to amass and invest early is what could provide for many opportunities later.

    -IceBurst

    So true.


  • admin

    @TonyMarq If you take a look at https://monitor.burst-team.us/pool , you'll see that in the past 10 days over 600 unique miners have won blocks, not counting the solo miners. Are some of them huge, yes, are all of them huge/big or a re some small? I can assure you there are still plenty of small miners picking up blocks.



  • @IceBurst said in POOLS & Killing Interest:
    Yesterday I saw a block with 50+ on it. That is a nice bonus. Should you or the pool hit it.

    Niggah last month i messed something up and sent a transaction with a 350 burst fee :) . I might hold the record for burst stupidity on this forum.


  • admin

    @nameless Don't bet on it ...................



  • @haitch surprise me :)


  • admin

    @TonyMarq I don't see the disturbing trend having large miners in your pool. You will get more frequent but smaller payouts than on a pool with smaller miners only.

    It is linear: If the network size doubles, you're mined Burst will be halved and vice versa.

    http://burstcoin.biz/charts/estimated-network-size

    I hope for increase of network size by mass decentralized mining.



  • @IceBurst I understand that and I also understand that bitcoin now has approx. 18 centralize mining centers controlling what was once many. Is that direction this is heading? What you're telling me is that many it would be wiser for me to just purchase the Burst instead of "hustling" for a few coins via a system, which brings me back to the question, "why mine"if it will eventually be removed from distributed controls. Thanks for your input.



  • @haitch I'm not arguing the numbers, I expressing an observation that I see on the block by block activities within one pool. if I just look at the Historic Share allocation, which I presume is based on the individual owners (there's no assignment to show what color represents one owner), approx 40% hold the balance of the pool winnings. I get the system, but I'm just trying to see what direction it's going.



  • @daWallet I'm not too concern with larger miners in the pool, I'm concern with larger miners winning most of the pools. In recent weeks, I have seen winners take the block and first place at the same time. Is that normal?

    If normal, then theoretically, one can come into the pool with 200TB of plotted space and supported by a very fast graphic card and pretty much wipe out several layers of pool winnings at once. I understand it's just one pool and there are others, but all of them have the same built-in issue, the pools will eventually be controlled by the significant few who have the power to run them while driving out the competition. Thanks for the input.



  • From a avid Bitcoin miners perspective, My Avalon6 uses a 1200w apu, My S5, S3, S1 are on a 850w , 750w and 600w apu. My electric bill just for this is $320. add the amount of bitcoin I mine in a week .02.

    Shut all down and run a compact for fun

    Started to mine burst, using existing harddrives and new ones. 2 servers and 2 laptops running 24/7 mining with 22tb on a good day and getting 10,000 burst coin a week (.014 btc) with a 60 dollar electric bill.

    Your move.......



  • @Burstde You are making a much more bigger profit than BTC mining xD
    BURST is the way forward! ;)



  • @Burstde Aren't you just proving my point?



  • @TonyMarq Yep



  • @TonyMarq I hear your concerns and I used to feel the same way. It is a competition though. So compete or get left behind. The real cool thing about Burst that you are not grasping is.... Even if someone were to massively solo mine every block, that would mean it is worth a lot of money to be in such demand.

    Now here is the point you are missing and why you should really be excited about spreading the word to more people like yourself who don't want to compete or can't.

    If tons of people find out about Burst and they go Head to Head with the Solo Plots, it can be done in the time it takes to make the plots. The computing power is already at their fingertips. Whereas BitCoin you had to Buy a clunky Miner at a High Cost and Power bills etc.

    With Burst you are instantly able to topple any Controlling entity by spreading the word and making a pool to compete with the Solo Monopolies!

    It is about opportunity and to those who can not mine or don't want to compete... Buy Burst instead of buying Hard Drives. If you hedge any market conditions you will always stabilize your investment. Say you buy 1 BitCoin at 145 Sats and the price goes down to 120 sats. You can now hedge your 145 position and prepare for an uptick to sell at 145 or hedge further to 90 or 60 sats. Then you can be dynamic and those solo miners must sell their coin to pay back their investments. But most likely the price just keeps going up and up and you can make money now or just hold or invest in Assets that mine Coin. Then you have taken your profits and beaten the odds against the large plots. There will always be people competing and selling coin so when they sell you may be able to capitalize on them.



  • @TonyMarq said in POOLS & Killing Interest:

    @Burstde Aren't you just proving my point?

    In a way just proving to you how you will miss out if you don't want to compete. Even if you buy hard drives now and get as much coin as you can with your resources you can always sell the drives later and have Burst coin as it grows in value. If it only goes to a penny you will be glad you did.



  • @CryptoNick said in POOLS & Killing Interest:

    @TonyMarq said in POOLS & Killing Interest:

    @Burstde Aren't you just proving my point?

    In a way just proving to you how you will miss out if you don't want to compete. Even if you buy hard drives now and get as much coin as you can with your resources you can always sell the drives later and have Burst coin as it grows in value. If it only goes to a penny you will be glad you did.

    +1 on this
    You can sell your HDD later if you want out.