• I've been studying the different factors that influence the value of a currency. Using Bitcoin as a model. I've found out some very interesting things. One of which is that Bitcoin started out very much like BURST coins' current value and status now. Perceived value is also a main factor in determining the value a person gives something. The more people that use it and see it, the more value it has and the more its widely accepted. For example. Once new sites sprung up that were accepting Bitcoin, the value went up. And the well known main stream sites started accepting it as a form of payment. The value again went up. Now it happens in reverse as well. If a big site like the previously well known mt. gox exchange fails, then the perceived value may fail as well. This results in a price crash which I'm sure those in the Bitcoin community are very familiar with. I have a vision where the value of BURST isn't based on percieved value as is the case with Bitcoin or any other currency. We must back BURST with businesses, services, and precious metals. Creating real businesses that accept BURST as a form of payment. And making sure that community of business owners is a tight knit one that is actively trying to directly or indirectly raise the value of BURST. Services must be offered with the end consumer in mind always. Some people in the world aren't always honest, so its up to those in the BURST community that provide services to do their best to be honest businessmen and women and make sure their peers do the same. One bad apple spoils the bunch. Finally Assets backed by precious metals are a MUST! The day where 1 burst is equal to 1 gram of gold, in USD, my job will be complete. Below is pasted a time line of the history of Bitcoin. Thank you all for reading. And as always any opinions and information posted in the comments below is greatly appreciated.

    Bitcoin value history (comparison to US$) Date Price for 1 BTC Notes
    Jan 2009 – Jan 2010 basically none No exchanges or market, users were mainly cryptography fans who were sending bitcoins for low or no value.
    Feb 2010 – May 2010 less than $0.01 On 22 May 2010,[76] user "laszlo" made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC.[77][78] User "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found.[79][80]
    July 2010 $0.08 In five days, the price grew 1000%, rising from $0.008 to $0.08 for 1 bitcoin.
    Feb 2011 – April 2011 $1 bitcoin takes parity with US dollar.[81]
    8 July 2011 $31 top of first "bubble", followed by the first price drop
    Dec 2011 $2 minimum after few months
    Dec 2012 $13 slowly rising for a year
    April 11, 2013 $266 top of a price rally, during which the value was growing by 5-10% daily.
    May 2013 $130 basically stable, again slowly rising.
    June 2013 $100 in June slowly dropping to $70, but rising in July to $110
    Nov 2013 $350 – $1250 from October $150–$200 in November, rising to $400, then $600, eventually reaching $900 on 11/19/2013 and breaking $1000 threshold on 27 November 2013.
    Dec 2013 $600 – $1000 Price crashed to $600, rebounded to $1,000, crashed again to the $500 range. Stabilized to the ~$650–$800 range.
    Jan 2014 $750 – $1000 Price spiked to $1000 briefly, then settled in the $800–$900 range for the rest of the month.[82]
    Feb 2014 $550 – $750 Price fell following the shutdown of Mt. Gox before recovering to the $600–$700 range.
    Mar 2014 $450 – $700 Price continued to fall due to a false report regarding bitcoin ban in China [83] and uncertainty over whether the Chinese government would seek to prohibit banks from working with digital currency exchanges.[84]
    Apr 2014 $340 – $530 The lowest price since the 2012–2013 Cypriot financial crisis had been reached at 3:25 AM on April 11[85]
    May 2014 $440 – $630 The downtrend first slow down and then reverse, increasing over 30% in the last days of May.
    Mar 2015 $200 – $300 Price fell through to early 2015.
    Early Nov 2015 $395 – $504 Large spike in value from 225-250 at the start of October to the 2015 record high of $504
    May - June 2016 $450 - $750 Large spike in value starting from $450 and reaching a maximum of $750.

  • Don't forget the maximum supply factor. It is so much similar discussion before, even 1 Burst = $1 it is almost impossible, they said $0.01 is reasonable target price.

  • @bandarfjb i agree 0.01 per BURST would be totaly fine.

  • but you don't need much for mining burst, some company will decide to buy 1000TB+ of hdd and dump the price, there are only small electricity costs

  • admin

    @babelis I don't get your point, 1000TB is around 10% of networksize, if i do such a investment, why should i dump the price ... bad for ROI ... and i do not think that 90K BURST per day is enough to dump the price at all.

  • @luxe yes I know what you mean, I'm just saying that it's possible, when price will get higher let's say +100% that big miners and holders will dump it down again and get profits, nobody wants to hold forever but who knows 😃

  • @babelis well i would say BURST potential is not in hoarding it but trying to make venues for a constant rotation, thus making coin usefull and at the same time desired. And once something is desirable its price goes up 🙂

  • Thank you all who replied and participated in the discussion. I've read all your comments and come to a conclusion. My conclusion is to drive up the BURST value to even $0.01 USD, there needs to be a series of assets and stores created that have a value that can translate to any currency. For example an asset that is based upon the value of a small fragrance boutique. This business would accept BURST along with the native currency. It's holdings (assets) would be redeemable for a good such as 10 holdings (assets) equal 1 bottle of perfume after a certain time frame. These are just some ideas that will hopefully give the community a starting point that causes a rise in the usage. We want to see a rise in usage because that benifits us all. The ones who start their ideas only need to remember the possiblilities of growth in 1, 5, or 10 years. Just look at Bitcoin? LITECOIN? MONERO? DOGECOIN? Why not BURST as well?