Topic: [ANN] Slimcoin : Proof of Burn NEW BLOCK GEN, Mineable by low power computer! - page 168. (Read 284956 times)

I still have no idea if i've gotten any slimcoin since I started of course I just started a couple hours ago, how would I be able to tell at all? i don't see any transactions but my log shows "accepted" in a couple of places.

Could somebody guide me through this before I just call it quits?

  I have burnt 280 coin so far

so you burned around 240 coins? Hmm... I burned ~17 coins so far (can't find blocks atm. ), but haven't found a PoB block yet (I burned the first coins around two days ago).

  I do not understand,
   

  I have proximately 1% of the burn coin. It is supposed to generate 960 block / day ( every 90s ) I should find in mean 9-10 block a day in POB.

   Yesterday I found 2,   today nothing do I have a flaw in my comprehension or the coin has a problem ?

   

Hello.
Sorry, I didn't get it. What do I need to do to mine this coin?

About myself, i'm a professional programmer on the .NET platform. (Yes on windows, i know many of you will laugh) I started in borland pascal about 15 years ago, went quickly to Delphi 3 and later Delphi 5. 10 years ago i jumped into .NET 1.1 in visual studio 2003 and now it's visual studio 2013. The most of my experience is in writing framework code where other developers from my work work with. Beside that i write business software for the windows platform, mostly in the language C# against the .NET 4.5 Framework. WPF as windows frontend and WCF in the communication. Especially with Entity Framework which used to be plain ADO.NET at first. I did ASP.NET work 5 years ago with Ajax panels etc. Lately i did some stuff for fun with jQuery, html5, razor, css3, javascript and looking at typescript. I do want to learn more about new javascript frameworks like AngularJS, knockback.js, breeze.js, coffiescript and ofcourse SignalR

So with 15 years experience i still feel like a n00b looking in github at c++ code how wallets etc. are written with a Qt multi platform frontend linking with c++ libraries like boost. Past month i learned and learned. I now know how to compile wallets for linux, windows and mac. I know how to create a own coin, create a genesis block, etc.. i even know how to make forks and add checkpoints to fix problems etc

All alot of fun, but time consuming as my work is a full time 40 hours a week and i can only spend 20 hours for a hobby a week writing code (and 5 hours trading on exchanges, reading forums, chatting in IRC, etc)

So i could code a pool and deploy it into the cloud in azure for example, but people will need to trust me as well.


imo a proof-of-burn pool should show alot of statistics

- the general wallets information about burning;
- decentralized with multiple small azure cloud workers, each worker one wallet;
- a user account specific deposits;
- a user account specific percentage of burning;
- a user account specific round information;
- a user account specific overall history.

It could be fairly simple in first, just being able to login, with SSL enabled ofcourse, unlike most pools! (i hate it that those pools don't know about crackers, dns sniffing, hijacking idiots)

Is Slimcoin an entirely new Economic principal in practice ?

Slimcoin is something that is only made possible by the very foundation of crypto currency.

Imagine walking into your local bank, tearing up some bank notes of paper currency and then asking the desk clerk for a slightly higher fixed % rate of interest on your savings account because their is now less money in circulation.  

That is Slimcoin. Destruction of the existing money supply with the mathematical hope / chance of getting a larger return in the future based on that destruction and in essence what is also a deflationary action.

Slimcoin actually helps to test what will happen with Bitcoin in 140+ years when all of the 21 Million Bitcoins are in cirulation and we begin to see the existing money supply deflate, initially creating additional value (in theory) and then the certain very slow decent back down to 0 worth ? Again, I describe the economic principal that 'you cannot trade in diminishing intangibility' - fact.

Certainly in our recent history only government institutions and issuing monetary authorities have been involved in the creation and/or destruction of the money supply.

See: http://www.theatlantic.com/business/archive/2011/04/the-destruction-of-money-who-does-it-why-when-and-how/236990/

See: https://wikipedia.org/wiki/Money_creation

See: https://wikipedia.org/wiki/Money_supply

I cannot think of another direct example where the destruction of money (or in fact any form of commodity) is directly linked to the creation of new money, without being directly linked to the economic principals of supply and demand / inflation and deflation.

I'm no economist - is their a direct term for this - or is this indeed something totally new ?

Finally, here is Philomena Cunk on 'Money' from "Moments of Wonder." - https://www.youtube.com/watch?v=Z-YKw8w-e50    

No we dont. Yeah, talk to your programmer.   Decentralized or it wont happen.

Before you guys even wrote this down i started thinking about a concept for PoB 'pool' mining. The first thing that went to my head was to create a project on cryptostocks for example, but that quickly went from the table because it will require to payout in BTC selling SLIM (SLM?) on exchanges.

After that i started thinking about a SPA frontend pool with a load balanced (multiple instances) middle tier doing the secure automated work, hosting the wallet(s) which are burning with a database to record the deposited SLIM and have it bound to a account so when a PoB block is found it can be shared fairly. There will be some cost for a website, hosting and a SSL certificate, but 1% of the mining power will cover that i think.

Having multiple 'pools' isn't a bad thing either. Someone trustfull doing that excelsheet manually or someone hosting a website, it's all the same. The trust in a person (or company) to do investment with in mind making ROI and finally getting profit.

I guess 100% trustworthy is impossible - anywhere!
At least some trust could be built with public address + Block Explorer.
I need some sleep now, will talk to my programmer tomorrow if payouts can be easily automated somehow.. then maybe I'll offer the semi-manual PoB pool.. if people want to have this at all ^^

Well, at least your a senior member of this forum with a slight positive trust rating. Which is better than the alternative, I guess.  

PoB pooling is going to be somewhat beneficial in terms of variance and evening out rewards over time.

It's perhaps like running an escrow service with 1000 times the responsibility. "Rather you than me" type of thing really.

Even if its fully automated its going to be nearly impossible to make it fully trustworthy and decentralized at the same time.

@ Dev: It would be handy to put a "FAQ" or similar into the first post... most common questions have been answered, but no one ever searches 40+ pages for those...

Is there a limit minimum size (reward) of PoB blocks?

Excellent

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3 days have passed since launch – as there's no block explorers and the like yet, here's some basic graphs:

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24 hours is probably not all that long.  Your coins burn for a very long time.

Same problem here, by any chance a 32 bits linux system? I've got the problem on openSuSE 12.3 32bits, my other system 64 bits XUbuntu doesn't have the problem

If people are interested i could do a "manual" PoB pool... I'll create a separate wallet, a google doc, whoever wants to transfers coins there does so and any burned coins are distributed at percentage of sent amount...

But to do that I would like to be 100% certain the total sum of burnt coins is really affecting the probability of burnt mining... I don't want to be the screwed guy if nothing's burned in that wallet

Hi dev, In the first post, i see block time is 90 seconds, is this block time shared by PoB, PoS and PoW?
How long does it take to find a PoB and how long does it take to find a PoW ideally (is it both 90 seconds or 270 seconds)?
Because i wasn't able to get a PoB block for 24 hours (250 coins burnt)

Good news!

Pools will of course be able to generate PoB blocks if miners are willing to set a % of their mined coins to be 'burnt' into the pool with a fixed % return.

This is obviously risky as the pool has to be trusted with a large (centralized) PoB balance, although with PoB the opportunity for this type of pool exists.

Also, PoW only pools, PoW and PoB combined pools and even PoB only pools. Its going to get interesting - that's for sure.

Great news