Topic: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh) - page 296. (Read 466799 times)

As far as I can understand:

People who generate solar power have to send in proof of generation as provided by energy companies paying feed in tariff. Humans then allocate SLR.

Obviously this doesn't achieve anything, so the penultimate idea is for PV inverters to report electronically what they generate directly to the SLR network which will automatically allocate SLR. The energy companies, who are obliged to pay the FIT, will instead of paying it in inflationary currency, will have to buy SLR on the market in order to meet their obligations.

This still doesn't achieve much if the only thing people who generate from PV can do with their SLR except sell them on the market. So the ultimate will be for solar PV equipment to be on sale priced directly in SLR. This will cause the generation of renewable electricity to be self expanding to the point when all electrical energy comes from this source.

On the basis that all renewable energy originates from the sun, I personally believe that wind, wave and hydro power should be included, but I don't think this is planned at present.

I suspect that I have got a lot of this wrong, therefore ask people to post corrections to this thread.

what's special about this coin - and how is this solar proof of generation verified/trustless/decentralised?

It'd be cool if this goes somewhere

Had a little top up today, had to pay premium price though, still alot of hopeful buyers with buy orders in which will never get filled as the buys are creeping to overtake the sells

So get it well you can at these prices as they are going up hourly

Mining seems a lot more difficult over the past few days (half as many per day) and the quotation against $ seems a lot higher. ( 0.9346 cents as I write.)

The total market cap of SLR is still petty cash for people like the Rockefeller family, and may even be quite trivial at the suggested $20.

I think everybody is waiting for block 310K 

US president makes passionate climate plea at UN summit
http://www.bbc.co.uk/news/world-29334807

Get on em Nick!   

Nick might play golf with them lol.

Who is going to be the one to break the news to them about Solarcoin? Any volunteers?

And so it begins...

http://www.bbc.com/news/world-us-canada-29310475


Hold on, the ride is definitely about to get interesting. 

Overtaking Bitcoin would create a lot of millionaires on this board...  Myself included...  

That being said, I'm not sure about SLR overtaking Bitcoin.  SLR is in a category of it's own...  It does have the potential to literally change the world as we know it, but in a different way from Bitcoin.  In terms of value, SLR has some major major potential.  Especially if true value comes to fruition in which 1 SLR truly meets 1 MW...

Bitcoin market cap    = $ 5,344,873,840
Somalia GNP             = $ 1,120,000,000
http://www.studentsoftheworld.info/pageinfo_pays.php3?Pays=SOM&Opt=economy

Solarcoin market cap = $          244,816
http://coinmarketcap.com/currencies/solarcoin/ (at the time of writing)
the latter is likely to be less than the value of the homes of many people who get SLR for their PV generation.
Looking at the abovequoted web page, I see that the market cap for SLR has very briefly been near to the GNP of Somalia, though.

So do not put anything into this that you can't afford to lose.

Kgw we need you.

Thinking about investing some money in SLR; maybe a little dump first

310,000 demonstrators at the Climate March. Really?   That number? Shit just keeps gettin' weirder and weirder...  

http://www.msnbc.com/msnbc/largest-climate-march-history-kicks-new-york

This gives me chills to read! Well said, freebird. And this is why I believe Solarcoin has the potential to even overtake Bitcoin. I've been an SLR believer since January, and have found no other coin that even remotely compares. I am 100% invested in the future of this coin.

Yes, Ripple is also a centrally managed cryptocurrency. And it's currently the #3 crypto with a market cap of $132 million.

People in the digital currency space have strong feelings about the issue of trust vs. non-trust based models of money. This is a philosophical issue that will be argued for years to come. There are and will continue to be successful cryptocurrencies based on either model, and hybrids of the two.

SolarCoin, though trust-based right now, will ultimately become a hybrid model because the reserve currency will be put under smart contract and the granting to solar generators mostly automated. The goal we're striving for is for solar panels to have a built-in system that transmits information to the blockchain about how much electricity is being generated, and for the corresponding amount of SLR to be automatically sent into the wallet of the owner of each solar panel. There will only have to be minimal review by human beings in occasional cases for fraud prevention (e.g. software flags a solar panel that's claiming a ridiculously inaccurate amount of energy generated, and a human can review such a case and override automatic grants to that wallet).

Ok, the smart contracts make sense.  That will definitely add security.

I don't think that's the whole point of crypto. In fact, I think that aspect of crypto is much less important than the fact that crypto gives people the power to decide how money gets created.

Today, most currencies are created by banks when they make loans, mostly to wealthy people and big corporations. The money supply is created as a reward for being perceived as more likely to pay back a loan with interest to a bank.

Bitcoin came along and offered a new way to create a money supply, based on currency going to whoever has bigger and more powerful specialized computers, technical knowledge, and ability to afford lots of electricity to mine BTC. It took the power away from the banking system, which was an improvement, but it still does not incentivize anything good in the world.

SolarCoin is a currency that is distributed as a reward for doing something that benefits the planet: generating clean renewable solar energy. We plan to put the reserve currency under smart contract so that the granting process can be automated. Before that happens, it is being held securely by the people who launched this project.

We know these people's real names and you can read their resumes: Nick Gogerty and Joseph Zitoli. Both of them have held high positions in major companies in the finance industry. They are not average schmos; they have serious professional reputations. Each individual has to decide for themselves whether to trust that they will fulfill the plan to put the reserve of SolarCoin under smart contract so that it will no longer be held by the founders. Based on working with them on the SolarCoin project for over 6 months, I trust them to do so.