The Death of Burst Coin

Well it appears my good friends that the end has come. I'll write both the facts and the speculations and make sure to denote which is which.

For those that have been following burst coin for the past 12 months or even as short as 60 days we have seen a roller coaster that is typical of a coin that become a true P&D (Pump & Dump). Lets take a look....

A year ago the coin was on a nice expected growth pattern, new members started to flood to flood into a coin that was "green" when compared to typical PoW coins.

Enter Adam Guerbuez and his associate "Focus". There were warning made to the community that were ignored. The hope was for a bright future with an individual that has we hoped had been reformed. His reputation of being known as the "King of Spam" was well known but ignored, after all he was a great promoter. From now on we will call him Flavor Flav, the Hype man of Burst.

Focus is a self proclaimed "Administrative GOD of Burst". Where he teaches pool admin how to "protect themselves" he claims to be able to merge BlockChains and the answer just come to him, from this point forward we shall call him "Neo", why not they both can see the Matrix right?

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Quickly Flavor Flav and Neo set to work to acquire as many coins as possible. The started by buying them on exchanges and mining. Quickly they learned to exploit the community by launching assets that are indicative of MLM scams or Ponzis by collecting millions of Burst from community members in exchange for ownership in projects.

Other assets they Raised Capital Against:
FlexCore (Formerly Flex) - 100m Burst
Burst4All - 12m Burst
FlexMark - 15m Burst
BurstNation Radio - 60M Burst
MikeTheMug - 10M? Burst
MTMGaming - 50M Burst
OGBurst - (Sold in BTC EST @ 30BTC)
Stolen Development Funds - 2m Burst

Other Holdings
BurstCasino.com (43%)
Bitsler.com (unknown)
vBurst (100%) - a made up currency that converts to their own holdings

BurstCasino has a GREAT start until it bankrupted because it was paying out the owners DIRECTLY FROM THE BANK ROLL. Over 100million burst were paid out, and after bankrupting instead of paying back in they issued "SnakeEyes" and raised 60M additional capital. Go figure why put money in if you can get more from the community.

Another project was "Burst4All", a mining system that collected 12 MILLION BURST. Initially it paid well but then the project was off loaded to another member who did not properly do the evaluations, they kept the physical hardware, 100TB Miner and the the 12M Burst. All they gave the new owner was a giant pile of pain. The assets below have been rounds off to show the gross collection of coins.

Fast forward to 60 days ago where Burst coin saw a rapid rise in price with no justification, reaching nearly 1000 satoshis and then crashing back down. You ask, Ice, why do you think it's them? Lets ask a better question, Why do they keep 90% of their Burst coins on Polo if they aren't planning on selling? Yes it's speculation but it does add up.

They started their own website, the "official Burst Coin site" which it is NOT. Which now has been flagged by Anti-Virus software serving content from a .ZA domain. They continue to promote their products and complete nothing other than the securing of additional funds.

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Enter some very angry people!

DDoSing started against many of the mining pools. Forums.Burst-Team.US as continually down, the Block Explorer is completely corrupted and finally we are seeing an attack on the actual block chain. The report is of 300K Unconfirmed transactions against a blockchain that is only designed to handle 256 transactions per 4 minutes. This number of transactions will fork the entire entire and it will be unrecoverable because it will exceed the max roll back time.

Bittrex.com has already disabled Burst due to block chain instability and I expect other exchange to follow suit.

The block chain is a complete mess, see the below chart.

Good night Burst. Sleep well in your cold dark coffin.

-IceBurst

Added Info by Another SteemIt Member: https://steemit.com/news/@lexicon/burstcoin-network-large-scale-attack