Topic: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh) - page 253. (Read 466822 times)

Over a 40 year period it does. There are billions of coins in the pool waiting for solar claimants over that 40 year period, and it even goes back 3 years right now for claims. The large solar farms can always claim tens of thousands of coins for 2012(?) to 2014 power production. That's several hundred thousand coins right there and more in the future.

You misunderstand the scale of this venture. It's designed with much longer time periods than you're suggesting.

SolarCoin is in PoW and uses energy to create the coins so how green is that? If the coin were more popular the nethash rate would be higher than 200Mhash and using much more electricity if scaled to BitCoin Diff and Pool Divisions. So people who don't even have Solar Panels can mine the coin, so who really needs solar panels at all? Using your logic, I could just start a coin based on Geo Thermal power. I may only have 10 people that claim the credit but everyone could mine it and intrinsically the 10 applicants made 1 coin per MWh so they proved all is right with my model. Meanwhile one million coins were created in the PoW pool and 1000 coins were created by the Geo Thermal proven sites. This may not be the exact math but I would venture to say that you don't have 33.5 Million+ MWh setup to make the coin in circulation equate.

Right now you can complain about Whales since the coin was minted instead of harvested and now sold. But they are the ones getting rich and we don't really know who they are to begin with, yet they proved they have mining equipment and own a ton of coin now. Your entire economy can be manipulated since it still doesn't relate to power even though it matches 1 coin per 1MWh. These coins are not matched to this equation but may sell at that rate or most likely lower since more coin is being mined.

So if you are just Pegging the coin to the cost of a MegaWatt there is nothing tangible at all other than the index. I can create my own coin now and call it ElectriCoin and peg it to the same index and you can plug in a meter to prove you have updated appliances.

"Mr Whale... Tear down this Wall!!" Over 10BTC on sale there :-)

Anyone friendly wth T Boone Pickens? He is really pushing alternative energy lately.

He might be interested in Solarcoins. If anyone has a twitter account he seems active on there.

The article is interesting and highlights the limits of QE with a large central bank balance sheet to GDP and a Zero bound rate mean limited room for maneuver.  A few risks are present, a rate shock i.e. bond vigilantes who push up the debt service to GDP ratio on rollover debt which accelerates issuance or a deflationary environment which increases relative debt service for consumers.  Given increased QE and debt issuance as solutions to either of these, the solution is potentially a massive issuance and extreme hyper-inflation.  Note these are 2 of many scenarios, but highlight the risks.

For those interested in understanding credit markets and thier relationships to currency I would suggest www.economicprinciples.com Credit/debt is merely currency/money issued against future expectations. When those expectations aren't meant a default can occur.  Massive potential defaults are a credit bubble.

crypto currencies don't solve the problem of credit bubbles.  Should a crypto currency become price/value stable enough to see credit issued in it.  Right now BTC etc. is to volatile and economically marginal to lend/borrow in as borrowers need to match their assets and liabilities.  Should a BTC credit market evolve with a yield curve it would occur with banks etc. acting as lenders etc. The chance for over issuance of credit would still exist only it would denominated in a currency which couldn't be inflated to relieve the debt crisis. 

Let's not forget the imminent vote in Greece which could see the first exit from the EU

1 SLR = 1 MW/h right? Well what good is energy generation? What Solarcoin is doing is getting backing by the ability to do work in a clean way. This in itself carries value. This coin doesn't merely derive it's value by entering the populace. It gets most of it's value by representing units of the ability to do work, this is the most basic definition of energy. It's a real value based system, and it trumps fiat, but it must work with fiat in order to have a basis of trade. If and when Solarcoin goes straight to fiat with a large enough following of claimants, it will begin to build true real world value.

There's only a couple of crypto currencies that are doing something like this, but Solarcoin is unique even amongst them.

It is way more scary than that, what is even more scary is that only 1 person has gone to jail for CDO fraud and the only reason he went to jail is that he admitted to it. Back in 2008 it was a Quadrillion dollar call on the Open Derivatives market with the Credit Default Swaps taken out of the safety net. The banks securitized the bad loans they said were Triple AAA's. This also made it so there was no negotiation possible for reworking payment structure on the loans, forcing people to Short Sale or get Robo Signed into Forclosure. Then through MERS the whole thing was devised to also step around the county recorders office in order to not have to pay filing fees or tax burdens on the properties. This was the crime of the century and then the most obvious terminology came into play. TARP, and we all know that TARP's are used to cover things up! lol

The rich get even richer in bad times, they buy up all the Forclosures or Short Sales and the banks also get the difference covered by Federal Insurance. So guess who just lost out? The little guys. And the actual properties that still have MERZ on their Titles now have Clouded Titles. The Security holders are now trying to take action too.

A quadrillion dollars is 1000 Trillions! You can also find out more about the FED RES audit and investigation by the senate only to realize the senate has been barred and has no oversight. They asked about the off the books ledger and it got real scary very quickly. Who is minding the till at the Federal Reserve is the name of the video.

SolarCoin could rescue the world if it goes Viral and backs with a type of system I suggested.

I also think that when people go to FIAT that the SolarCoin should be burned since the wall is the money generated by the panels.

So I might keep my SLR for the medium term if things look this promising.

http://www.telegraph.co.uk/finance/economics/11358316/Central-bank-prophet-fears-QE-warfare-pushing-world-financial-system-out-of-control.html

Good thing we're out in front, prepping a solution for the coming problems.

I don't recommend reading the article if you have any fears of fiat collapse, it's not for the weak at heart.

Only this matters: §1 = 1MWh

Huge list, how do we translate that into real money though?

Ok so here is the idea that should take it over the top.

Step 1. Create the foolproof datalogger with its own solar panel that will attach and monitor any array. It could also be installed contractually to make sure it is legit.
Step 2. Create a non-profit account with each power company.
Step 3. Owners of the Panels will donate to the non-profit account for the power they normally sell back to the power company, or a portion if possible.
Step 4. The account will be credited by the Power Company into the Non-Profit account.
Step 5. The datalogger will send the info to credit the wallet with coin based on the MWh.
Step 6. Use the money inside the Non-Profit account to make a buy wall on the exchanges. Or use portions to buy the Bulk Panels to sell to people at a discount if using SolarCoin they purchased. (Demand from better Product/Pricing)
Step7. Any sales in FIAT exchanges profits back into the wall, sales with coin means Panel Owners sold above the buy wall which is a constant. If someone sells out the buy wall then the market cap is met until the next cycle.

Just creating the buy wall as a security for representation of the money in real dollars reflected by the price sold to the grid would be enough though. Creating the merchant store could boost the buying of SolarCoin. Since any Merchant selling any product or good could support SolarCoin, this would be a given if acceptance was widespread as BitCoin for example. So the merchant store isn't entirely necessary.

It is just a swap out at that point but you have PoS from the coins and I was wanting that to only be available to DataLogger wallets only somehow. So if someone wants in on the extra profit they have to buy solar panels and invest to grow the Solar Economy. Since they can just buy and hold coin and never lose value at all! In fact it would only grow if you think about the next paragraph.

The other way to do it is to start a huge Solar Farm and use the Profits from all sales and the money from all output to put more panels up that would NOT mine coins but feed back into the economy in the buy wall. It could do coins though but this is an unfair advantage so it should just be like a Dividend payment since it will boost up the buy wall past where the normal market cap would be! Then SolarMiners can make these profits better from their coins which allows them to realize the beauty of the economy. Once the ROI on the panels is achieved you just have operational costs to cover.

Now take some of the larger farms from the list and imagine the main SolarFarm for SolarCoin is that big. Each year it could be producing the big figures and as more people buy in the bigger the farm grows. The only people able to sell Coins at first are the SolarMiners. No coin is given to the infrastructure unless you have sales of Panels. In this case the coins could be burned so they don't depreciate the sellers in the market. Since people are buying the products with the coin sold by the miners you facilitate a passthrough for a green footprint. Since the money to buy the Panels to Sell to the public was created by the SolarMiners this could also give higher values to the coin itself in dollar to coin ratio in the market. This is because the energy that is freely produced from the large main farm will be feeding the economy too. There would need to be an equation for the market at all times since it is going to be based on output and coin supply vs. FIAT.

This is the only real way to create an economy that can not be manipulated by big players or anyone for that matter. They have to put up the power first and monetize into the Crypto. Then if they hold the Crypto and it catches on they are sitting pretty. Since they alone could not manage a SolarFarm on their roof yet they will be tied to its profits so holding coin is wise as more people jump on board growing exponentially. Sort of like Network Marketing in a way too but the top of the Pyramid works for everyone!

The SLR long-term price chart looks very nice.  Stable.  I see the whale playing around with the order books.  I would ignore this guy and not worry about the price.  Put your buy support low and don't get suckered up. Getting on more exchanges and spreading liquidity through exchanges would defuse the capabilities of the whale to control the market by creating more arbitrage opportunities and bringing more traders in.

I spend a lot of time on IRC where most development happens in cryptocurrency, and where you can get in contact with exchanges better.  If you guys want to come on IRC and hang in our channel as well, we can try to make this happen quicker.  I have developed relationships with many exchanges over time... the key is that exchanges want someone to fill the orderbooks if they open a market.  I firmly believe every cryptocurrency development team should have someone dedicated to market making.

I registered #SLR on the Freenode network as someone already has #Solarcoin.  You could probably request it from the #Freenode staff but I will give you guys control of #SLR.  You guys would benefit from a small IRC presence IMO.  Are there any IRC users here?  I recommend using IRC Cloud (it's free and you can use it on mobile devices) Make sure to register your names with Nickserv...  maybe we could even help you get an IRC tip bot as well.  

And yes... we are still working on figuring out issues with wallet for a hard-fork.  Also if you guys come on IRC you can maybe get involved at looking at the code repository as well?  The more eyes the better.  I will be in #SLR #solarcoin #cannacoin waiting for ya'll Cheers

If you make a datalogger, how do you prove that the power came from a Solar Panel? Someone could trick the logger into thinking energy being used is energy being created.

When 1MWh is created, the owner was paid by the electric company or compensated as a discount from their bill. The owner was technically compensated already and now gets a coin to sell on the open market. How does this create value? I think this is the dilemma that needs to be dealt with.

So flip the model upside down. Buying a Datalogger gets you a certain amount of coins up front as you invest in the Crypto of SolarCoin. There are no other coins to be paid out to the owner of the Datalogger. So make the installation of the Datalogger a very good deal for the owner. You could even put a solar panel on the datalogger so it will pay for itself too over time

So turning it upside down means that the only coins that are paid out have been installed as dataloggers. At this point people will only be able to buy coin from those who invested real money and these people will set the price of the coin as they would not lose their investment and sell lower since it is always a fixed cost to get a datalogger, conversely you can't sell coin for much higher than the cost of the DataLogger. Now if they want to earn PoS from their coins they keep them and the only way you can earn PoS is to own a DataLogger. When the DataLogger reaches 1MWh it triggers PoS and sends the wallet a Stake. Then based on the amount of coin in the wallet it stakes proportionately. So keeping your coin makes you more PoS to then sell on the open market and get ROI. Takes out coin dumps, very valuable coin at first too.

I guess you could also make the DataLogger a special ASIC and mine the coin as PoW also and pay back the investment with time instead of giving the coin out right away. Putting the solar panel on the DataLogger would also mean it knows when sun is hitting the DataLogger and can not be tricked easily but I am sure this isn't foolproof. The public will also know that the price for the coin will always be a set price! All of the costs are in the open and PoS will be a set percentage. Then people can feel like they get a deal buying the PoS coins for slightly less than the buy in since they could just buy a datalogger to participate at that point. It will always be cheaper than the real cost of electricity if set up properly economically. Then with the sale of coin eventually the Owners of the DataLoggers will be paid off and their coin will be pure profit.

But if you make it so the DataLogger is paid up front for the coin then PoS starts immediately and kick starts the economy, there could be a Max coin for dataloggers too? Since it should equal the buy in. So you can't corner the market and your PoS is based on your MWh anyways, meaning more MWh gets quicker stakes. This could be decided by the community anyways.

I am working on some other ideas that I have to perfect first. But you can see how outsiders who can't afford to install Panels, would first of all know for a fact that people invested, and that this coin is truly backed by green!

Now we can also make the coin more valuable by creating a Bulk Purchase Store for Panels! Then people buying the coin can use the coin to buy panels from the main merchant store at deep discount. This creates the worth for the coin and people will be participating. They can only buy at special pricing with SolarCoin creating demand for the coin. This means they have to buy it from the market and create demand for the DataLoggers that are in place already. This will self perpetuate. And those purchases may also buy DataLoggers at that point. The costs for the dataloggers should also be fair and just enough to be profitable to replicate. But selling these products could also be an economy of its own. I would personally want to be involved with the hardware, selling the shovels may make more money than digging! We could even install our own EPROM's into panels like an OEM and sell them with an embedded DataLogger.

Again, like SunnyBoy said there is a lot of effort here, but it creates worth this way.

Brainstorming something like this is how we will get it done under the sun! No free coin until the sun pays back the money!

Trust me, any power he has is temporary. I have some pretty big investment coming over the next few weeks.

He`s just baring his big muscles to show us all who`s boss!!! 

I feel like getting some bitcoin and taking those of his hands. At least it would get rid of that wall. Judging from the historical graph it seems SLR hasn't stayed above 0.00002 for to long however BTC was more expensive then.

It would be nice to see those coins distributed to more people. I bought up some of them.

It would seem our ghost is losing control of the market and getting desperate