Topic: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh) - page 252. (Read 466822 times)

What you want is what you get. Is cheap SLR what WE need?

Many thanks for these cheap SLR , you made my day. 

Yep it has played itself out in the markets over and over again. There has to be a better way and SLR should create it!

Unfortunately this is what happens with many different crypto currencies, the problem with this is it holds the coin down when many people sell after a price rise.

I must say, this is a fascinating conversation. And timely! Especially since today is my one year anniversary for discovering SolarCoin.

Reading through these comments is helping me to reflect why I am here supporting this endeavor. In a nutshell, I think Fiat and the current system are a failing system. I have held that view for a number of years as I see it deteriorate before my eyes, benefitting those at the top increasingly at the expense of just about everyone else. Fiat is necessary for now because that is how much of the world still functions. However, my belief is that 10 years from now, possibly even within five years or less, fiat will have a rude awakening. It's a MASSIVE bubble! Combined with an under estimation of the damage global warming will have and I happen to think a currency solution to address both problems is something we have to do for humanity so at least there is something for people to fall back on for trade purposes. 1 MWh of solar electricity, as they get dispersed into the economy through SolarCoin, is the best "backing" for a future currency that I can think of. I tend not to get stuck in thinking in terms of fiat for my "investment" in SLR. It's not about that for me, not even close. It's about creating a system from the ground up that can be used when the day comes that current systems no longer work for everyone. That day is already here for much of the world.

My view of the future actually hasn't changed in the past year. If anything, the bust is moving even faster than I had anticipated. The difference between now and then is my perception of it. I choose to be hopeful rather than fearful. Could I be wrong? Absolutely. But what if I'm right? How do we want that world to work that isn't all about destruction and chaos? Call it pie in the sky if you want to, that's also a choice. For me, I prefer to focus on the solution rather than the problem. Will SLR be part of that solution? None of us know the answer to that yet, that's why it's called "risk".

When it comes to understanding currency, I believe the Master says it best:

I can agree a gold backed system is antiquated, it just isn't an entirely truthful statement. Since Gold will always have a degree of usage not just a belief system. Very well written book though.

Good deal, I hope it all works out. You going to sell to BitCoin/FIAT as it jumps up like thousands of other investors? That is part of the problem and the price will slam when people sell off. More people have to be buying than selling. Most people want to buy low sell high and are not going to buy your positions out.

Cryptonick Tell that to the people who held Bitcoin from .01 cent and did not sell early on.

I am holding my Solarcoins for a long time $$$

ok. I am talking my own book here (pun intended) but you may enjoy the monetary / credit section of thenatureofvalue.com it briefly addresses the role of gold etc.  Peter Bernstein did great work on this. Teh electronic etc. functional use for gold is minimal. Gold's monetary role is a fun historic relic. you may like this explanation relative to other elements on the periodic chart: http://www.npr.org/blogs/money/2011/02/15/131430755/a-chemist-explains-why-gold-beat-out-lithium-osmium-einsteinium  gold has properties that lend itself to being used for the social function of money, but money is ultimately a social protocol and belief system not a physical reality.

I am reading the paper. Not entirely true! Gold is used in Electronics for its physical properties and in Processors. You can say people believe products are worth a certain amount and that makes the Gold appropriate to that amount, but it is not based on pure belief, since it is a finite resource that takes Energy to produce and Energy to transform. Even a Jeweler requires energy to transform it.

Basing the economy of the coin on a DeKo is a good idea since it will always be worth what those relative costs are in the real world. But this always relates to FIAT since that is what is paid to create worth for a MWh. To take FIAT out of the equation and just say the coin is worth 1-1MWh won't get any traction since you have to be able to sell the coin for value based on that MWh. Why would people buy the coin just to keep it as though that idea creates value? Even backing with Claims to prove you paid coin for those Claims doesn't create value or make people want to buy a Solar Panel.

Look at how my idea turns the coin on its ear and you may want to rethink the concepts of the coin.

So you have done all the math for every possible claimant or I guess you just pool it? If the coins are never claimed then the disparity is shown in the market since they can be claimed later. So you always base your Market Cap on unclaimed coins and you also base their output prior to your coin's creation. While you give the same value to the PoW coins as you do the Claim coins. Using PoW means you use energy and do not create energy when creating coins, good thing there is only 200Mhash as it is low energy consumption. This was an oversight.

So claim coins will be sold off to FIAT at a low price. Below 1MWh per coin. These claimants do not care what they sell at for free money. This will erode the value. Since you want to PEG the price at 1MWh per coin you would have to create a buy wall vs FIAT to sustain it. Otherwise it would not be equal in FIAT. Saying 1 Coin Equals 1MWh is only truthful when not compared to FIAT, but when you pay for a MWh how much does that cost and what can your market bear? Seeing that it will be rife with speculators and whales buying and selling it, the manipulation will be rampant. People wanting to get out of the market into FIAT will take losses to the manipulations making it impossible to equal 1MWh cost per coin per BitCoin value... since we know it will not cost more than 1MWh per coin, the price can only be eroded. Not to mention the people who got in on the PoW at 100 per block can manipulate the price also.

So lets say on average a MWh costs $90 on the low end. In some US states it goes as high as $120 per MWh. The cost per coin right now is .00001788 x $232 per BitCoin equals $0.0041 per SLR Coin. This just proves my point. Each coin is not even worth half a penny yet 1 Coin = 1MWh. You don't even have the market cap of a Million AAA Energizer Batteries! So the price per coin should be around .388 per SLR coin to start with or slightly lower reflecting wholesale. So if you are expecting investors to pay for this type of market movement based on Claims made by companies who have already been paid for the power they produced, I have to admire your sense of greed not green.