Topic: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh) - page 297. (Read 466799 times)

Did I read that right, 99.9% premine? 

So you have to have trust in a centralized Generator Pool to hand out solar credits?  I thought the whole point of crypto-currency was decentralization, and trust-less transactions.

The total supply of SolarCoin in circulation will be approximately §98.1 billion over the next 40 years. This is fully documented and is comprised of the following:

• Public Staking and Mining: ~§100 million (0.1%) of which §33.3 Million are publicly mined using scrypt PoW until such time that the Proof of Stake algorithm is implemented (currently scheduled to take place at Block 357,520). All publicly mined SolarCoins represent historically generated and unclaimed solar electricity. From block 357,520 forward, the only new supply of coins will come from the 1% staking interest that is built into the PoS model.
• The Generator Pool: §97.5 billion (99.4%) are currently stored in a secure, non-circulating generator pool account. These will be exchanged for “proof of generation” claims of solar electricity producers submitted over the next 40 years at the rate of §1 per MWh of solar energy generated. As claims grow, these SolarCoins will be released and become part of the “coins in circulation” such that the growth in supply over the next 40 years should mimic the growth in solar electricity generation worldwide, assuming all generators claim their coins.
• The Genesis Pool: §500 million (0.5%) are stored in the genesis pool account for environmental charities, early volunteers, advisers, builders and maintainers of SolarCoin infrastructure. Genesis pool circulation is capped so that it will never represent more than 5% of total SolarCoin in circulation at any given time.

Unfortunately I don't. But I have noted that SLR is rising sharply at the moment and almost getting back to where it started in relation to inflationary currencies and BTC.

Obviously not enough. There was a lot of it. However it does not look as though it was implemented.

Did you keep reading? There were more posts discussing it further down the page. I think it seems like a fine idea.

Having just read it, it looks as though that idea was talked down as not being in the spirit of Solarcoin.

In the previous thread there was some discussion of doing something similar to the Blackcoin mining pools but for SLR. Let me go find it... But if I recall, you can mine anything and the pool converts it to SLR for you or something. Please someone correct me if I'm wrong. Obviously it's something that would need to be set up if someone saw some value in it to do it.

EDIT: Found it! Sylph suggested it, here is the link to the comment and the discussion after: https://bitcointalksearch.org/topic/m.8226490

Thanks. All upgraded now over two days.

The question remains as to what to mine after SLR becomes unprofitable or ceases to be mineable. Mining something else and converting it to SLR when SLR has a bad day seems an option. Such activity on a wide scale would continue to support SLR by propping up its market. Digibyte seems a possibility as it can be mined using old SHA256 miners as well as Scrypt miners.
http://coinmarketcap.com/currencies/digibyte/
but as far as I can see one would have to go via Bitcoin to get to Solarcoin.

Any other ideas on this?

Yes

See that volume. Imagine 10 times that volume after all these triggers begin. PoS, grants flying out the door, Incorporation, etc.

Never seen volume this high on solar bittrex

BTC VOL   5.22461927 BTC

The new version seems really slow "re-indexing blocks on disk". Is is possible to do this in stages, ie will it carry on where left off if the computer is switched off overnight?

I'm surprised BTC went down recently. With the announcement that PayPal will start accepting BTC, I thought it would go up. Weird. At least the good thing is, SLR is going up so we're not losing any value relative to fiat. If I had extra fiat on hand, I'd be scooping up BTC at sub-$400 prices and converting it into solid altcoins like SLR.

Yeah, I would guess at least 15m SLR (half the circulation) is locked up in the hands of long-term holders. Another 5-10m or so was bought at extremely low prices (200-400 satoshis) and I'm guessing some of that will be cashed out by profit-takers over the next month or two as we move up on strong volume. Consider that just in the past week we've had a couple million SLR in turnover on the market at prices ranging from 800 to 1900. Some of this is obviously profit-taking. Eventually the profit-takers will be done taking their profits and the price will move up to much higher levels. The remaining 5-10m coins in circulation is a huge question mark -- could be long-term holders or could be people who will sell once a SLR is worth several cents. Probably some mix of both. And probably the average long-term holder will cash out 10% or so of their position at some price level where they will feel tempted to take some profits off the table (2 cents, 5 cents, 10 cents? who knows. will be different for each person).

So, the upshot of all this is, I think there will be enough liquidity in the market as the price keeps moving up. But you're right, SLR is an unusual coin in that it probably has way more long-term holders than almost all other coins out there. This is good for everyone, as it likely means there won't be a lot of huge dumping once we clear out some of the people who bought at ridiculously low prices and are happy to take their 5-10x gains and leave.