BURSTCOIN Celebrates Birthday With Release Of New Energy Efficient HDD Mining Wallet

Founded August 10, 2014 , Burstcoin [BURST] uses a unique algorithm called Proof of Capacity or (PoC), which utilizes unused hard disk drive space instead of a processor or graphics card while mining for BURST. Miners can pre-generate chunks of data known as ‘plots’ which are then saved to the hard disk. The number of plots stored is effectively the mining speed. Every block a miner skims through saved plots and calculates an amount of time until it is able to mine a block if another block hasn’t yet been found. Plots only need be generated once with a computer processor unit (CPU) or graphic card (GPU) making BURST hardware and energy friendly.

BURST is for everyone, ASICS will never be more efficient than spare hard disk space running mining operations in the background while a PC is powered on.

The way BURST works is like this, miners generate and cache chunks of data known as ‘plots’, which are divided into 4096 portions known as ‘scoops’.

Plots are generated by taking a public address and a nonce, then hashing it, pre-appending the resulting hash, repeating the hash-pre-append cycle many times, and then hashing the whole thing and xor’ing the last hash with the whole thing.

Lots are staggered together so chunks of the same scoop number are together, then written to disk.

Each block has a generation signature which is derived only from the previous block’s generation signature and miner, so it is difficult to manipulate.

When mining, the scoop number to be used for a block is derived from the generation signature and the block height, so the miner reads all relevant scoops (each plot will have 1 relevant scoop, and staggering allows for larger sequential read with less seeking). Only 0.024% of the stored data will need to be read each block.

The generation signature is hashed with each scoop. Eight bytes are taken from the hash, then divided by a scaling factor (inverse difficulty). The resulting number is a number of seconds. If that many seconds passes since the last block without a new one, the address/nonce combination used to generate that plot/scoop is eligible to announce a new block.

Then the miner’s hardware can just sit idle until a new block is announced. The address/nonce is included in the block as proof of eligibility, and the block is signed by that address.

Technically, this mining process can be mined PoW-style, however mining it as intended will yield thousands of times the hashrate, and your hardware will sit idle most of the time.

Continuously hashing until a block is found is unnecessary, as waiting long enough will cause any nonce to eventually become valid.

BURST is not only the first Proof of Capacity (PoC) currency additionally there are no clones are in existence as of yet,  but since the launch in mid-August 2014 the main developer has put immense effort on improving BURST. Often the coin is referred to as simply BURST, as that is the handle on the exchanges.

Recently, with the announcement of BURST being the first and only HDD-mining coin, they have also announced that it has now also become the first cryptocurrency to implement Smart Contracts within a live environment.

You have probably heard of Smart Contracts as Ethereum and Counterparty have been in the limelight with regards to implementing Smart Contracts which both are still in development. However, you can now start writing Smart Contracts with BURST today.

Users today are discovering that Bitcoin is not anonymous but pseudonymous, able to be tracked and traced by third parties with the right resources.

BURST has now also addressed this problem with a solution known as atomic cross chain transactions which is considered to be decentralized trading between different currency platforms. Users can trade BURST with a coin that provides a mixing service for the purposes of privacy, then sends it right back to a new BURST account with no third party interference. Recently this has been successfully achieved by both BURST and QORA another second generation cryptocurrency.

As BURST enters it’s second year it looks as if developers have big plans and are celebrating the 1 year anniversary of BURST by unveiling these new developments to start the new year off in the right direction.

As a community let’s all wish BURST a Happy 1st Birthday and give the new HDD wallets a spin and start cutting back on those high electric bills!!


Subscribe to our newsletter

Poloniex a very popular U.S. based cryptocurrency trading exchange platform will block New York residents from services beginning August 8th 2015. Users of the site have been issued an email warning letting them know they must remove funds if they reside in NY.

“In accordance with the New York State Department of Financial Services, Poloniex will no longer be allowed to provide services to residents of the State of New York starting on August 8th, 2015. If you are a resident of New York, please take appropriate measures to withdraw your funds by 11:59pm Eastern Daylight Time on August 7th, 2015. For more information or for further assistance, please contact our support staff by going to poloniex.freshdesk.com.”
— Poloniex Bitcoin Exchange

On the 24 of June the BitLicense was adopted by New York legislation and is now recognized by The New York State Department of Financial Services (NYDFS).

Bitcoin and virtual currency businesses must apply for a license within 45 days from its initial announcement of which August 8th is the deadline for all virtual currency operations to comply.

“Any person engaged in virtual currency business activity that fails to submit an application for a license within 45 days of the effective date of this regulation shall be deemed to be conducting unlicensed virtual currency business activity.”
— BitLicense Transcript

Recently, Shapeshift another very popular cryptocurrency exchange based in Switzerland also blocked services in the State of New York in protest of the BitLicense.

Founder Erik Voorhees believes the license is unethical, and exposes personal user information creating Please Protect Consumers in protest against mass data collection and sharing of personal user information. ShapeShift was praised by many in the Bitcoin community for it’s stance against state regulation and data collection.

Andreas Antonopoulos tweeted to fans after this announcement and his perception of what Shapeshift accomplished:

“Kudos to ShapeShift for refusing to become a honeypot of PII just to satisfy NY regulators.”
— Andreas Antonopoulos

Data collection is believed by the community to be unethical after revelations recently revealed by Edward Snowden about the illegal surveilance of millions of America citizens by the NSA.

More companies are expected to follow Shapeshift and Poloniex in protest of unethical as well as unconstitutional and unreasonable regulation. Let this message speak loud and clear to other states such as California that these types of unwarranted regulations will only stifle innovation and most likely block your state from participating in the development of an amazing and phenomenal technology.

Nicholas Guccione is the youngest son of the late Bob Guccione Founder of PENTHOUSE and OMNI Magazines and General Media International.
The launch of GuccioneCoin [GCC] is a one of a kind cryptocurrency with a gigantic built-in community primed for the benefits of decentralized, anonymous, low cost blockchain technology.
Nicholas Guccione began his Crypto-Research a little over a year ago. He has helped a few Cryptocurrencies and the coinciding Development Teams primarily through endorsements.  After spending a lifetime growing up around PENTHOUSE he knew the importance of Payment Processors and the Banks that they represent.
Nicholas noticed one of the major failure points in the payments system in regards to subscriptions or other items purchased through PENTHOUSE was the lack of anonymity when utilizing Credit Cards. The customers privacy goes out the window.
From the beginning Nicholas noticed that there could be benefits in using CryptoCurrency instead of traditional methods of banking such as with high interest Credit Cards.
He also noticed that they could be used for micro purchases which Credit Cards still have not been able to achieve due to their fee structure. Protecting the anonymity of customers in the high end Erotica industry is very important.
This can be accomplished and still fall within compliance of the Global KYC/AML Guidelines.
Cryptocurrencies can allow for Micro-Purchases of digital content. These are some of the reasons that Guccionecoin was created. Nicholas has been working successfully for over a year obtaining digital content and media to be used inside some of the first editions of the Online Magazine that he is planning on building.
This Online Magazine will be built in the Spirit of PENTHOUSE and possibly called ‘Pure Guccione’ which is currently the leading title.
Nicholas realizes that there is plenty of competition out there in regards to adult entertainment that is free. In fact most all of it is free. However none of it can compare with the quality of the experience you get from viewing HD Media plus high end live Streaming 3D Video and movies.
The plan here is to create a market with GuccioneCoin, while continuing to build the Online Magazine which is a separate Guccione project that will accept Guccionecoin [GCC] as a merchant for payment on both a large and micro purchase scale of new and existing digital content.
Nicholas Guccione will be starring in a reality show this coming Winter 2015. The reality show will cover his daily life including GuccioneCoin and the building of the Online Magazine. It will also delve into his very private past, dating back to the early 1980’s when his father was one of the 400 most richest men in the world.
It will cover his early experiences when he first began working in the Mailroom at PENTHOUSE INTERNATIONAL to nearly 20 years later when he became the CEO of PENTHOUSE VIDEO.
The crypto-ecosystem could not have a greater person than Nicholas Guccione joining its ranks as a staunch advocate of cryptocurrency.
He has also had the pleasure over the last year to meet and work with TIT Developer Edward Mansfield and Patrick McDonnell ‘The Coyote of Wall Street’ and is also close to the Italian owner of The BitCoin Garden, Secco from Tuscany one of Bitcoin’s finest gentleman and experts.
The technical aspects and allocation of all data for Guccionecoin [GCC] will be covered in the white paper that has now had its due date extended until possibly Fall of 2015.
Everyone is welcome to join in the development of Guccionecoin and become part of the team today!

On July 21, 2015 a de-list order was issued against LTBcoin by Poloniex Exchange officials who stated that “Passionate pleas from the community have convinced us not to de-list LTBC”.

This news comes as a shock to the Let’s Talk Bitcoin community, the community has had a tremendous impact on spreading the word about bitcoin through a content platform that rewards it’s contributors in LTBCoin.

Research on LTBCoin in the markets show that LTBCoin has seen it’s ups and downs just like many other coins on the market. However, with LTBCoin the fluctuation in volatility has historically been very low, LTBCoin has been a fairly stable cryptocurrency so when the news broke about the coin being de-listed at Poloniex it took the community and many traders by surprise to say the least.

LTBcoin does not use computational mining like traditional altcoins.

Instead, LTBcoins are distributed to content creators, the community and the “Let’sTalkBitcoin” platform according to a fixed schedule.

After a period of 260 weeks (5 years), all coins will be distributed and no new coins will be created.

LTBcoin is a user-defined asset using the Counterparty protocol. Counterparty is built on Bitcoin and is secured by the Bitcoin network. Because of this, LTBcoin addresses are exactly the same as Bitcoin addresses. LTBcoin can be traded on the Counterparty distributed exchange for Bitcoin, XCP or other user-defined assets.

How to get LTBCoin:

First, visit CounterWallet and generate a free multi-wallet that holds bitcoins, LTBCoins and anything else built on Bitcoin using the Counterparty protocol. With one click you’ll generate a secure 12 word password, you’ll want to keep it safe as it’s your private key. Once you’ve created your password, log into your wallet and you’ll see three brand new bitcoin addresses you control.

Copy one of those addresses, then head over to LetsTalkBitcoin.com and login to your account in the upper right hand corner of the page.

Inside your account you’ll have a few options, one of which is “My Profile” – Click on that, and at the bottom of the page you’ll see a place to put your LTBcoin address.

Paste your newly created bitcoin address, save the change and you’re done!

How you can help:

The community over at Let’s Talk Bitcoin could really use some support with LTBCoin as they have spent many hours and put a lot of hard work into this project and would like to see it become a success for the entire bitcoin ecosystem.

If you get the chance check out Let’s Talk Bitcoin and see how you can get started contributing to the platform and you may want to visit Poloniex and let them know what you think about LTBCoin and why they should not de-list it.

Batman switches phone service from BatPhone to the new, better and safer alternative.

BitPhone, from Solid Cloud, is changing the world once again using bitcoin technology. BitPhone does not require registration for use, and is in fact an anonymous payphone.

BitPhone is Web RTC (Web Real Time Communications) based that can call SIP (ViOP uniform locator similar to URL) addresses, PSTN (Public Switch Telephone Network) Phones and can provide Peer-to-Peer communication. It allows you to visit the website from any Wi-Fi connected phone or device, Internet Café, local library computer terminal or any place you can connect and simply requires a small deposit of some bitcoin or any other approved altcoin, and you can place your call anywhere in the world to more than 200 countries.

BitPhone allows users to change their ‘Caller ID’ to anything they want and all calls are private, secure and encrypted! The anonymous calls function is implemented by hiding your Caller ID, and works on most devices and smart phone.

No software install is required, you can call directly from your browser. BitPhone allows you a refund of any unused balance, unlike Skype which requires a $10 permanent deposit.

Currently you can pay for your calls using bitcoin, dash, litecoin, dogecoin, startcoin, ripple, mastercoin, namecoin and many other altcoins!

Bitphone does not require you to register or install any special software; however, registered users do receive a savings of 15-25% on call rates.

Keystone 2015 Los Angles is set for August 3rd 2015, and is entitled “How to Harness the Distributed Ledger” and will be discussed in great detail by many of the Financial Tech superstars and leaders.

A few of the cryptocurrency names that will be speaking include Peter Rizzo (US Editor – Coindesk), Vinny Lingham (CEO – Gyft), Will O’Brien (LP – Blockchain Capital), Daniel Palacio (Founder – Authy) and more than a two dozen top specialists in the financial innovation sector.

Keystone 2015 states that “everything you know about ledgers is about to change.” The extent of opportunities for the blockchain and distributed ledger is still in its infancy, yet it seems the sky is the limit.

Every day there is news that another company is considering how this experiment called “bitcoin” has changed the entire operating processes of how money is used, transferred and of course, maintained in ledger.

We in the altcoin community appreciate the power and innovation that has spawned following the release of bitcoin, and may muse from time-to-time as to why everyone else has not got it figured out yet.

Robleh Ali of the Bank’s Financial Market Infrastructure Directorate released in his paper stated that “although the monetary aspects of digital currencies have attracted considerable attention, the distributed ledger underlying their payment systems is a significant innovation.”

Keystone 2015 will address how this innovation can be used and harnessed to bring about global financial change in ways we can not even immagine.

The creation of the cryptocurrency has led to innovation, creation and even financial reform. There are a multitude of coins being released, though some have real power for change.

Kobocoin (KOBO), founded in Feb 2015 and has been very aggressive in building a highly secure and stable platform that is aimed at the African local business and remittance markets, with remittance currently totaling more than $80 billion per year in Africa alone.

Designed primarily as a P2P currency to be used for face-to-face local purchases with fast transaction times of about 2 minutes and low transaction fees.
Kobocoin is a PoS or Proof of Stake currency with 10% per annum growth per year credited daily, paid to every person that holds a funded wallet, continuing until full allocation of new coins have been placed into circulation.

Coins come and go, but what makes Kobocoin such a strong contender for Africa is the massive infrastructure that has been developed rivaling larger and more dominant digital currencies.

Currently, Kobocoin has digital wallets available for Windows, MacOS and mobile wallets for Android and Blackberry. The digital wallets currently allow for transactions in over 150 fiat currencies and are currently being integrated in to payment gateways and market place systems.

Founder Felix Ugoji stated that they have been “happy to be under the radar until now as it has kept the market pressure off Kobocoin and we’ve been allowed to develop organically and build a resilient platform/ecosystem.”

This platform includes geographically dispersed DNS seeders and Abe explorers to further secure Kobocoin.

In conclusion, Kobocoin is a coin that can truly benefit the people of Africa, while still utilizing the world economy.

Cannabiscoin is a peer to peer digital cryptocurrency that is backed by medical cannabis. Many merchants accept cannabis coin to buy medical marijuana and supplies as needed.

In 23 different states across the U.S. cannabis is legal. Cannabiscoin is what many people are using today to by, sell or trade for the fluffy, sticky green stuff.

Cannabiscoin is simple, fast and safe to use in a variety of situations and enables its users around the world to purchase what they need according to a doctors prescription. There has always been a certain stigma surrounding Marijuana and its users, however this is not as true as it use to be, in the United States there is a huge push to legalize cannabis across the board.

Keep in mind; this is not your parents pot of the 70’s, today Marijuana is much stronger than ever and growers have now learned how to tweak or adjust cannabis depending upon a users personal needs.

There is a variety of reasons that doctors prescribe medical marijuana, these reasons stem from everything from anxiety, sleep disorders, seizures and cancer.

Some medical dispensary owners will even go as far as to donate some of their supply for the cause.

On the other hand studies say that there needs to be much more research on it. Facts show and prove there is no physical withdraws from marijuana compared to the narcotics being prescribed. People do seem to exhibit symptoms like “the munchies” when high so there may be slight weight gain as a result of use, however this is even controversial because if somebody does decide to “munch” they do have the choice to eat something healthy and low in calories.

Some people will argue the point that smoking marijuana is dangerous because of possible lung damage, today people have the choice to vaporize it or consume by eating brownies or other treats available in your local edibles shop or bakery.

In some opinions, vaporizing cannabis is the best way to consume the substance because basically one just vaporizing the pure THC from the plant and leaving the rest behind.

Like cryptocurrency, many believe cannabis is a big part of the future the legalization of marijuana across the board is just on the horizon. The twenty first century is jumping many hurdles and Cannabiscoin offers patients additional methods to pay for cannabis purchases, a method that is much safer than cash in this ever changing world we live.

If you’ve seen any television or internet ads in the past few years, you are vaguely familiar with what cloud computing is. The cloud is a network of servers, and each server has a different function. Some servers use computing power to run applications or “deliver a service.”‘ This is a very appropriate definition as it applies to GorillaStake, offering a cloud-based staking service available to anyone globally.

The cloud is more an idea than a practice; in reality, there is no cloud itself, there are just remote computers somewhere in the world. GorillaStake has developed, secured, and screens its cloud to only accept trusted connections, meaning the physical location of the staking ‘cloud’ is not published on mainnet, lowering the chance of interference, GorillaStake uses an extra layer of public nodes to screen any network activity.

By screening all traffic, GorillaStake servers are ensured to remain private, secure, and uninterrupted staking. Even if you only want to use it while on vacation or out of town on business, at a one time payment of $9.99, Cloud Staking pays for itself in a small fraction of the time hardware mining units return on investment.

Not only do you have ZERO hardware to worry about, but GorillaStake comes with a trusted support team ready to assist you at any time, should any problems arise. In over six months of operation, we are proud to say we have had zero complaints with our service.

GorillaStake does things a little differently. When an order is submitted for enrollment in Cloud Staking, a Private Key is mailed via snail mail to the provided name and shipping address.

This Private Key is now entered into one of our secluded staking centers and will provide you a reliable way to ensure your funds are staking, even when your computer is not on. Not only does this save you energy costs, but it also maximizes staking returns vs network inflation.

More information on GorillaStake and More!

Litecoin is often referred to as the silver to Bitcoin’s gold. It is one of the oldest and most successful digital currencies.

Litecoin had historically been second in market capitalization to Bitcoin and is still now third, behind Ripple.

Litecoin was released October 7, 2011 by Charles Lee, a former Google employee using the scrypt algorithm.

Legions of Litecoin hard-core miners, armed with their GPU mining rigs, will forever echo the litecoin battle cry and continue make the Litecoin network as secure as they possibly can.

In the past two weeks litecoin had nearly tripled in price, from $3 at the end of June to almost $9 ($8.65 more accurately) on July 10th.

Many speculations of why the price was soaring came to the surface from many sources, mining difficulty, forthcoming block reward halving, a Chinese influenced pump and dump, attacks on the bitcoin network all have been accredited to the relatively quickly soaring price.

Possible causes of the increase might be eliminated by what happened on July 10th when the price dropped, back to sub $4 prices on the same day it was nearing 200% growth.

The price dropping before the estimated Aug 25th 2015 block reward halving seems to be sufficient evidence that the block halving cannot be the cause of the price increase.The block reward halving may be fueling some demand certainly but, cannot be a the single explanation of recent upward movement.

Unlike the block reward halving, mining difficulty can never be projected. For that reason, mining difficulty and any reports suggesting mining difficulty, can surely be discredited as the explanation.

Speculation on the price increase stemming from a retraction coming from Bitcoin because of security concerns of the Bitcoin network can also be discredited given the price drop of Litecoin, so most likely Bitcoin did not reflect the price movements.

The price drop of July 10th, does offer some evidence of bulls in the market creating a pump and dump.

It may have garnered additional support coming from the anticipated block reward halving in the pump phase and that upward pressure from the block reward halving will continue.

The block reward halving means the same amount of electricity will yield half the number of coins.

Of course ignoring any mining difficulty changes and other unpredictable variables, the upcoming block reward halving is a definite signal of stronger demand and quite possibly what we are seeing is a premonition of things to come, in that light keep an eye on Litecoin in the coming days as this recent indecent could be a signal to venture back into the light.