[ANN] Slimcoin : Proof of Burn NEW BLOCK GEN, Mineable by low power computer! - page 29.

AizenSou

hero member

Activity: 938

Merit: 1000

Quote from: slimcoin on August 22, 2014, 09:48:55 AM

Do not forget this this coin can also adapt. Whenever I see a place that can make this coin better, I am ready to adapt it to make it better.

Such a nice and innovative coin, but it will die slowly without promotion. I suggest you fix all the bugs first to make the coin stable, and then gather a team for diverse promotion tasks. You get a lot of supporters in this thread, even Hero Member, so I'm sure that would bring the coin to better position.

slimcoin

full member

Activity: 182

Merit: 100

Do not forget this this coin can also adapt. Whenever I see a place that can make this coin better, I am ready to adapt it to make it better.

pantheist

member

Activity: 63

Merit: 10

Quote from: m5j0r on August 22, 2014, 01:47:23 AM

Quote from: pantheist on August 21, 2014, 10:10:27 PM

edit: went back, I see that PoB has a similar curve to PoW- why would it ever take over- it will probably just become increasingly expensive to participate in- look now when coins are extremely cheap, there are over 200k burnt. In a year if not a single person burnt a coin those would still be 100k effective. Seems like if the price of the coin ever goes up it will be extremely expensive to get into the PoB blocks..

edit 2: and unlike expensive miners that can switch to other coins, once you make the investment (which is looking like it would have to be sizable, just like for good mining gear) you're locked in- you can never switch it to produce something else, so it's even riskier.

Absolutely agree. But I think this coin is the first with a feature like this, so it hopefully will be constantly improved. It's not like we're not used to forking by now Grin

Fair point. I like the concept here for sure. Last time I though that was with DRK when were 70 cents, and I'm still kicking myself for only buying a couple bucks worth with leftover BTC from another transaction. I have a bit of spare cash this time too, but it just seems like there is a lot that hasn't been thought through very well yet with these. I wonder if they'll get straightened out or if these will just end up being a proof of concept with another coin executing it better.

slimcoin

full member

Activity: 182

Merit: 100

Quote

Will you take off hashharder and slimcoin pool links off of the OP

Will do. Also, I have no news from slm.blockquarry.

SpeedDemon13

hero member

Activity: 518

Merit: 500

Hey slimcoin, will you take off hashharder and slimcoin pool links off of the OP, they aren't even online anymore. Lucky I only mined a day on slimcoin pool, guess those are gone coins now. lol

Did blockquarry finally get back on the proper fork?

m5j0r

full member

Activity: 140

Merit: 100

Quote from: pantheist on August 21, 2014, 10:10:27 PM

edit: went back, I see that PoB has a similar curve to PoW- why would it ever take over- it will probably just become increasingly expensive to participate in- look now when coins are extremely cheap, there are over 200k burnt. In a year if not a single person burnt a coin those would still be 100k effective. Seems like if the price of the coin ever goes up it will be extremely expensive to get into the PoB blocks..

edit 2: and unlike expensive miners that can switch to other coins, once you make the investment (which is looking like it would have to be sizable, just like for good mining gear) you're locked in- you can never switch it to produce something else, so it's even riskier.

Absolutely agree. But I think this coin is the first with a feature like this, so it hopefully will be constantly improved. It's not like we're not used to forking by now Grin

slimcoin

full member

Activity: 182

Merit: 100

The general trend is, the more burnt coins active, the smaller the reward. Currently, the burnt coins are remaining at ~200000, so it can be considered a relatively constant reward.

Also, remember that PoB does not guarantee and immediate return of investment. It takes some amount of time.

pantheist

member

Activity: 63

Merit: 10

So.... does the reward for the PoB block go up with difficulty? If not, why would PoB takeover later on?

edit: went back, I see that PoB has a similar curve to PoW- why would it ever take over- it will probably just become increasingly expensive to participate in- look now when coins are extremely cheap, there are over 200k burnt. In a year if not a single person burnt a coin those would still be 100k effective. Seems like if the price of the coin ever goes up it will be extremely expensive to get into the PoB blocks..

edit 2: and unlike expensive miners that can switch to other coins, once you make the investment (which is looking like it would have to be sizable, just like for good mining gear) you're locked in- you can never switch it to produce something else, so it's even riskier.

pantheist

member

Activity: 63

Merit: 10

Quote from: slimcoin on August 21, 2014, 12:51:57 PM

For PoB and PoS minting, all you need is the client to be on. For PoS, all you need are some amount of coins in your balance. For PoB, you have to burn some coins. Now, there are over 200000 coins burned, so for you to see some return, you will need to burn quite a bit. For example, burning 1000 coins will get you a 0.5% chance of landing a PoB block in the network. Given the network stabalizes to 1 PoB block every 3 PoW blocks and a PoW block is found at about every 90 seconds, that means about 320 PoB blocks per day. At 0.5%, that gives you 1 to 2 PoB blocks per day.

So the 50 I burnt probably won't get me anywhere, but this means I can do the math to see what'd be economical. Thanks

slimcoin

full member

Activity: 182

Merit: 100

For PoB and PoS minting, all you need is the client to be on. For PoS, all you need are some amount of coins in your balance. For PoB, you have to burn some coins. Now, there are over 200000 coins burned, so for you to see some return, you will need to burn quite a bit. For example, burning 1000 coins will get you a 0.5% chance of landing a PoB block in the network. Given the network stabalizes to 1 PoB block every 3 PoW blocks and a PoW block is found at about every 90 seconds, that means about 320 PoB blocks per day. At 0.5%, that gives you 1 to 2 PoB blocks per day.

pantheist

member

Activity: 63

Merit: 10

So.. yeah-looks like lo mining might get me one block per few days if I'm lucky, so not worth it for me.

Again, sorry if this has been asked, but for PoB and PoS rewards- does the client just have to be open or does it have to be open with generate on? About how many coins do you need to have/have burned to have a reasonable chance of getting one of those?

slimcoin

full member

Activity: 182

Merit: 100

I have written to all the pools and will write to them again regarding so.

SpeedDemon13

hero member

Activity: 518

Merit: 500

Quote from: bitsum on August 20, 2014, 03:43:15 PM

I see network speed : 5731 khs
If not on slm.blockquarry.com
where do most miners mine this coin?

I'd like to know this too or is solo mining the only option?

bitsum

sr. member

Activity: 279

Merit: 250

I see network speed : 5731 khs
If not on slm.blockquarry.com
where do most miners mine this coin?

pantheist

member

Activity: 63

Merit: 10

Well that was a lot simpler than I was trying to make it.... thanks again

m5j0r

full member

Activity: 140

Merit: 100

It might be worth it if you have a server board with 2 high end cpus.
Just set generate to true in the wallets console. I don't know if you can solo mine with the other included miner. Most seem to use the wallet.

pantheist

member

Activity: 63

Merit: 10

Quote from: m5j0r on August 20, 2014, 11:59:24 AM

None of the pools work right now. I've been using this one before http://www.slimcoinpool.com/ but only got abysmal returns that didn't justify the 100% load with a modern cpu.

I've tried solo mining since then (I think I'm on the "right" fork now) but there's no point - it ran all week but didn't mine anything.

I see :\.... Thanks for lettn me know though

Is there a tutorial for setting up a solominer for noobs somewhere (or will the instructions for bitcoin solo mining work here too)? I understand it probably won't be worth it, I'm just curious to see.

m5j0r

full member

Activity: 140

Merit: 100

None of the pools work right now. I've been using this one before http://www.slimcoinpool.com/ but only got abysmal returns that didn't justify the 100% load with a modern cpu.

I've tried solo mining since then (I think I'm on the "right" fork now) but there's no point - it ran all week but didn't mine anything.

pantheist

member

Activity: 63

Merit: 10

So, what pools are people using? I checked out the three from the OP- one's empty, one has 3 people (and hasn't gotten a block in over a month), one doesn't load at all, but it looks like there's a decent number of people mining somewhere... Sorry if I'm missing something obvious, I read the last 5 pages or so and haven't seen any specific pools mentioned...

95A31

newbie

Activity: 12

Merit: 0

Quote from: sleepdog on August 20, 2014, 07:51:45 AM

Quote from: 95A31 on August 20, 2014, 05:54:27 AM

It will provide only a webpage of pool status like this:
http://i62.tinypic.com/2ni1lif.png
other information can be retrieved by exploring the blockchain.

I'm interested to see exactly what you're going to do with these coins....

Quote

pay

/peɪ/

verb
Nautical

past tense: payed; past participle: payed

seal (the deck or seams of a wooden ship) with pitch or tar to prevent leakage.

"an open groove between the planks had to be payed by running in hot pitch from a special ladle"

Wops xD

Topic: [ANN] Slimcoin : Proof of Burn NEW BLOCK GEN, Mineable by low power computer! - page 29. (Read 284975 times)