Topic: [ANN][SLR] SolarCoin - PoW reward for solar energy | the GREEN KING of Crypto - page 55. (Read 138368 times)

instead of complaining why not invest in some equipment to secure the network for $999 on ebay you can buy a gridseed blade with everything included that will do 5.5 mhs or about 2200 solarcoins a day

Not too concerned about the "whales" for now.  They are most likely selling the majority they mine on the market and people are constantly buying, so the coins are being distributed.

With that kind of hash power, you don't have much of a choice but to sell the bulk, unless you already have a ton of money...

Right now is the time to buy it cheap or mine it and hold.... 

I read that one company alone, US First Solar (which has about 5% of the market, I believe), recently said it expected net sales in 2014 to range between $3.7 and $4 billion, with higher numbers in 2015 & 2016.  Solarcoin has 100 million mined coins (to be about 75+% completed over the next year or two).  Add on the claimed solarcoins, and the number will climb some - not sure of that growth, so I'll just throw out a number, say 150 million in total over the two years (?).  These companies have revenues in the billions, and profits in the hundreds of millions of dollars annually.  Even if the top companies donated a million a year each to the solarcoin initiative/foundation, that could mean 10 cents on each coin annually. If they donated 5 million a year, it would equate to .50 a coin annually. Any annually guaranteed return on coins would be a double banger for the valuation, as it would spur on demand/desire, as well as incentive for people to hold their coins, which would drive up the price. Could be a real win-win…but would need to be able to implement some sort of reward system; i.e., PoS.

that is already happening, if the diff is below 3 the net-hashrate triples and so the diff raises is again around 5/6 like now

I think most urgent matter for SLR is gravity well patch.
Without this, mining will be monopolized by some whales or multi pools.

Every time I see "PoS", something else entirely fills my brain as to what that stands for... 

Regarding PoS, there has been some talk about that among SolarCoin volunteers and it's something the Foundation will be studying carefully.

I agree that it would be a good idea to approach large solar companies and seek investment or grants from them. Certainly developing such a relationship of mutual benefit between the Foundation and the companies could help SolarCoin to catch on.

Just to clarify;

In the example of using a PoS type reward system, where I said only award to the mined coins, I meant not to award to the coins still in storage (not awarded), as well.  The idea was that those that made claims to accumulate coins, as well as those coins that were mined, could benefit from holding their solarcoins from some kind of value created by the $ that could be donated from the manufacturers.

Nice to see the excitement!  :-)

I believe it could also make sense if the solarcoin foundation, being so well represented in the community, approach the photovoltaics companies (manufacturers) to subsidize the coin, to spur investment into their products.  Even if a very small percentage of their sales could go to subsidizing the solar coin initiative, it could really add up. If solarcoins hit the $10-$50 range, it would truly initiate growth in the solar power usage, and they would get that small investment back quite easily; and probably be eligible for some corporate tax right-off of the contribution to the solar coin foundation. Why wouldn't the manufacturers collectively provide some incentive?  According to the following photovoltaics companies wiki (http://en.wikipedia.org/wiki/List_of_photovoltaics_companies), it appears that the top manufacturing companies have a large % of the market.  I would start there     Although, I am not sure how you would go about distributing any $ that were contributed to the solarcoin foundation?  How would you go about connecting the $ to the individual coins?  Could you have additional coins awarded periodically to those that hold their coins, kinda like a PoS system? Of course you would have to only apply that to the mined coins (not the pre-mined/award coins). Maybe there's an easier way?  That would have to take more thought :-)

Exciting times for a solid crypto coin, that has a great backing!

Solarcoin = sleeping giant.

Odd, this is my gaming handle. One of them anyway.

Oh you such a "newbie" hah!

Not to interrupt the conversation, but in the interests of full disclosure Vexatious = Epiphany. I've decided to be more consistent with my profile naming between here and the SLR forums. Anyone with half a brain would have known I was one and the same already  , but I've decided to move on from my "gaming" name to this one on these boards.

So, that's that. Please continue... 

There's a 5% per year limit on release of coins also, that is 5% of current circulation. But a lot of this depends on adoption and there's a few kinks to work out like a faithful way to meter production but grid ties will make it difficult to fake numbers however because who would want to pay more to the power company just to pick up a few Solarcoins? That is to say when the power company in your area figures out there's been a sudden decrease in watts usage from your address they'll come investigating. This is the main objection to many of the project. They feel trust is an issue when making claims, but they just don't understand the process. You can't just arbitrarily send in a claim as your solar production is tied to your house watt meter and there's many federal regulations in place to keep tampering to a minimum, at least in the US. That is to say the feds enforce this with guns and fines and jail time.

I agree. I think this is one of the excellent features of §SLR from an economic perspective, that the price will tend to be self-regulating after it reaches a certain level that's high enough to create lots of interest among generators. This will help it to be more useful and stable as a currency, rather than only as an investment.

I expect we'll see 5 or 10 cents per §SLR by the end of this year, and at least $1 by the end of next year. The growth curve could be very steep for the next couple of years, because of (1) limited supply (declining mining rewards, not much generator granting yet); (2) the crypto community eventually rediscovering this coin; (3) big investors outside the crypto community getting in when volume increases and it will become possible to take large positions efficiently.

Beyond the $1 level, I'm not going to make any predictions, but the target $20-30 level could potentially be reached after a few more years. To do so, §SLR would have to surpass Bitcoin's market cap, but I think that's possible in the long term, after major players in the solar energy industry start backing this coin and integrating it with metering systems, etc.

Hold on, hold on... If the price does spike early due to limited supply, that's what will trigger people who already generate solar to start submitting their claims in earnest which will start adding to the supply (coins in circulation). That will keep the price in check from going too high in the short term because many of those claimants will be more inclined to sell or be inclined to accept SLR as payment and get transactions under way.

So exciting to think about all of this! I think we are about to witness something special and unique with SolarCoin.  Many books will be written about it in the future. I might start taking notes now... LOL

Thinking out loud here but it seems to me that if you look at the supply/demand equation over the short term (say 2-3 years), the supply of SLR is incredibly tight as it is coming almost exclusively from mining. Many of the current holders aren't about to sell anytime soon. My small circle have put less than $100 each into this. But what happens if people start to come along who want to invest $1000 or more? Given that our exposure is gaining ground in circles outside of cryptoland where people have that kind of money and are passionate about the environment and energy, it's not outside the realm of possibility that the price could rise dramatically over the short term before settling down to $20-$30 in four to five years as the granting process takes over. And that is most certainly an incentive to adopt solar in the short term since the only viable method left for getting SolarCoins will be to generate solar and claim them. Mining them won't really be an option given the decay/difficulty and if the price spikes early, the incentive will be to earn them rather than buy them.

I'm really curious to see how this all plays out over the next 2-3 years. But we could be looking at a price chart over the next 4-5 years that more resembles viral growth than the standard growth charts most of us are used to looking at. After that, the price would settle into the proper behavioural pattern associated with a currency backed by electricity. I've been scouring the internet looking for something similar to what could happen and this is the best I've come across, just to give a graphical representation of what I'm attempting to describe.



I'd love to hear what you all think about this... Am I cracked???  Or could this actually happen? And if it does happen, is it a good thing or a bad thing for the SolarCoin Foundation mission overall? Obviously it would be a good thing for all of us early investors but I'm more concerned with the impact on the overall goals and mission of the project itself.

Low volume is great! These coins will be worth plenty in a year or two. In the meantime, shhh, mine and/or accumulate quietly. Let the word get out after we have more coins ;-)

https://poloniex.com/exchange/ltc_slr
https://www.bittrex.com/Market/Index?MarketName=BTC-SLR