Burst Coin

No, the commitment itself doesn't generate returns. It's not entirely like proof of stake or delegated proof of stake. The commitment in tandem with mining is what generates the returns.


No, you can still mine without any Burst being committed. However, if you want to actually mine and earn Burst in an economical way, you will need to commit some Burst.


The committed Burst will remain committed until you uncommit them from within your wallet.

I see that you can add a "Commitment" in BTDEX and set up Mining. I have added 5X the currently 200 Burst most are adding as a "Commitment".  I understand that the "Commitment" is not a "Proof of Stake" or "Delegated Proof of Stake", but it is still a commitment to supporting the blockchain, which is obviously a positive position.

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How does "The Commitment" work in connection with the Phoenix Wallet?  It's possible to make a "Commitment" within the wallet, but there does not seem to be a place within the wallet to activate/set up Mining.  So how does that work?  Please explain what the purpose of adding a Commitment to the Phoenix Wallet or the Classic Wallet does other than Proof of Capacity.

These might seem like trivial questions, but a clear concise answer would be helpful.

How does "The Commitment" work in connection with the Phoenix Wallet?  It's possible to make a "Commitment" within the wallet, but there does not seem to be a place within the wallet to activate/set up Mining.  So how does that work?  

That's true. Currently, you can only make a commitment of Burst from Phoenix but you cannot mine from Phoenix. So it's just an extra option for someone to commit some Burst. Then maybe a miner can mine without a wallet with some standalone software if they want.

Please explain what the purpose of adding a Commitment to the Phoenix Wallet or the Classic Wallet does other than Proof of Capacity.

I think it is because they plan on releasing an updated Phoenix wallet soon. The current version ends in "beta.3". These beta versions were started before the Signum hardfork. The next version may be another beta in the series or the full version. So right now, I think it is just a step towards implementing mining in Phoenix similar to what happened with BTDEX. That's just my opinion.

That's true. Currently, you can only make a commitment of Burst from Phoenix but you cannot mine from Phoenix. So it's just an extra option for someone to commit some Burst. Then maybe a miner can mine without a wallet with some standalone software if they want.

I think it is because they plan on releasing an updated Phoenix wallet soon. The current version ends in "beta.3". These beta versions were started before the Signum hardfork. The next version may be another beta in the series or the full version. So right now, I think it is just a step towards implementing mining in Phoenix similar to what happened with BTDEX. That's just my opinion.

Just added a few 3x Burst "Commitment" via Phoenix simply because I like what I'm seeing.  Just one small issue, what's going on with Bittrex Burst withdrawls?  They seem to be going into a "Pending" status and have been doing so for a couple days.  Does that have something to do with the Signum hardfork and upgrades?

What other advantages does burst have apart from energy costs, commissions and absolute maximum transaction processing?

Burst also allows for anyone to create their own token. It's easy and cheap to start your own token with Burst. Your token will be powered by the Burst blockchain. So the token's information can be accessed on the Burst explorers and the token can also be freely traded on existing platforms such as BTDEX and BRS.

Possible use cases for creating your own token:

Crowdfunding: Let's say you have a great business idea, but simply do not have the funds to get it launched. You can use a Burst powered token as a method to bring in payments from interested people from around the world.

Donations: For example, you are a content creator (eg. Youtube) and use your token to receive donations from viewers or followers.

Gamification: Let's say you have an existing game or app. You can use the token to reward for certain actions. For example, if the player passes a certain level they then receive X amount of the token. It gives an incentive for more activity, makes people interested, and helps your game or app go viral.

Advertising: The Burst token will automatically be visible on the Burst blockchain and Burst explorers. So you can gain free exposure with these.

Low fees: For example, Paypal takes about 3% from payments received. So do other credit/debit card payment processors. MoneyGram and Western Union are even worse. Burst and Burst powered tokens can be sent or received for fractions of a penny.

I often store bursts in Bittrex, is this safe? I am worried that my assets will be lost.

Bittrex is a reputable exchange and has been around for years, but there is risk with any centralized exchange. They can be hacked or subject to new government regulations. If you simply want to store Burst coins though, I think it's better just to use an official Burst wallet. Or even better, BTDEX because you can trade there too.

Burst also allows for anyone to create their own token. It's easy and cheap to start your own token with Burst. Your token will be powered by the Burst blockchain. So the token's information can be accessed on the Burst explorers and the token can also be freely traded on existing platforms such as BTDEX and BRS.

Possible use cases for creating your own token:

I like "Use Cases".

Think it through... 

• How many Burst "Use Cases" currently apply to you personally?
• How many Burst "Use Cases" currently apply to Crypto as a whole?
• How many Burst "Use Cases" currently apply to the planet?
• How many Burst "Use Cases" currently apply to ...?

Update BTDEX.TRADE to v0.4.8.  

• Changes include the XCH/BURST pairing.

What an intersting "TREND"...  BTC down - Burst up...  Burst up - BTC down.

I heard that Tesla will not be accepting Bitcoin because of environmental concerns. Bitcoin then dumps hard, but then Burst which is known for being a more environmental-friendly coin, shoots up. If this becomes a trend then Burst has a very good future. What I mean is that if more companies start refusing Bitcoin or even if miners are forced to shut down over environmental concerns, the focus will go to the greener coins like Burst.