Topic: Has Solidcoin finally been shut down? (Read 5285 times)

They work for him because he owns the private keys for the tyrant nodes. The tyrant nodes control the block chain and the pre-mine.

lmao.

*edit

and if those two 5850s were used to mine sc..

it'll only generate 1.89 sc, where they need to reach the price of $5.23/sc in order to break even.

way to lose $. 

Well it is roughly double that.

0.07 per block, 2 minute target on even blocks.
24 * 60 /2 * 0.07 = 50.4 SC per day global mining reward.

SC ~= 0.01 BTC.  
50.4 SC * 0.01 BTC per SC = 0.504 BTC per day.  So two 5850s.

calculations please.

So the entire daily output of the Solidcoin economy was $1. Clearly Solidcoin is taking over the world. Too bad the world in question is the demented ravings from an unmedicated sufferer of manic-drepression.

gene pool?

more like a puddle. 

Is this graphical representation really what this clown is offering as argument?

Are you really that fucking stupid CH? Wow, your ignorance never ceases to amaze in the vast breadth of its scope. You have artificially manipulated the block rewards for your precious little joke coin in a proclaimed effort to prop up the value, even gone as far as artificially inflating the value for a few moments by dumping a few dolars of your own money into it and claiming that blip as the new reality, and yet the bitcoin process playing out EXACTLY AS IT WAS DESIGNED TO DO, ACCORDING TO THE THEORETICAL MODEL UNDER WHICH IT WAS DEVELOPED is your concept of a pyramid scheme?

You are truly proof that the intellectual gene pool has a shallow end.

And I apologize to my regular readers for re-using that particular remark. I pride myself on original abuse to heap on this waste of respiration, but I am flummoxed by the depth of his ignorance, and am tired so I am recycling.

One word(ish) to sum this all up.

Kapwnt

If you would like to educate yourself on the person currently controlling the Coinhunter account, you can read about his former identity on these forums at this link: https://bitcointalksearch.org/topic/delete-64960

If remaining ignorant is not seeing the reward system is shaped like a pyramid then yes I'm glad I'm "ignorant"

You have a choice to educate yourself or remain ignorant.  Oh well.

The early miners of Solidcoin (you) made a lot more coins that the ones that mine it now.  Isn't that what you call a pyramid?

One person (you) makes a piece of each coin mined.  That is the actual definition of a pyramid.

By your incorrect usage or the actual definition, Solidcoin is a pyramid scheme.    

I suggest you draw the following.

1) Draw the amount of bitcoins given at 50BTC as a line
2) Draw the amount of bitcoins given at 25BTC as a line above (1), center it
3) Draw the amount of bitcoins given at 12.5BTC as a line above (2), center it
4) Draw the amount of bitcoins given at 6.25BTC as a line above (3), center it


Ends up looking something like this.



I wonder what that looks like.. hmm.

That is not pyramid based.  A pyramid is when the person above you makes a portion of what you make.  Educate yourself before you use the term again, please.

There is a term that describes early adopters making more than those who come later.  I invite you to discover it and use it instead of the incorrect "pyramid" term.  

The block chain is still creeping along with a few kHash of mining, but exchange trade volume is nearly zero. The bid/ask spread is nearly 50%.
I think we can safely declare Solidcoin dead. Though I am sure it will limp along for a few weeks like Ixcoin and I0coin did.

Still no less delusional though.

Such arrogance!

I'm talking about the "Reward system" being pyramid based. As in 8 months it will be 25BTC instead of 50BTC. If you join in 8 months time and begin mining you've just immediately halved your Bitcoin mining potential for no other reason than "it's a pyramid reward system, get in early".

Bitcoin is marketed as finite and a deflationary currency, but the reality is that mechanism is in there purely to get people interested and investing in it because they think one day each Bitcoin will be worth ONE MILLION DOLLARS!! Satoshi developed it like this so people would be interested, he licensed it under MIT so people could change it freely (SolidCoin) and then dropped off the planet because the reality is Bitcoin is more the "rocket booster" needed to get the real delivery system (something like SolidCoin) into general use to remove the stranglehold governments have over us.

Read an article about Bitcoin like this, and compare it to SolidCoin. We've fixed the criticisms.

http://www.good.is/post/why-bitcoin-is-a-scam/

The truth is Bitcoin will never be an internet currency. It doesn't have enough units (2 quadrillion) to even cover the existing financial system we have, let alone what it will grow into. SolidCoin can grow into it, and it has many automatic ways to ensure relatively stable price that people want in a currency.

I think the simple concept of a pyramid system is over your head.  

If I mine a bitcoin today, no one who mined before me makes anything from it.

Unless you have a different definition than the rest of us?

Yes, there is nothing to hide there because it's the truth. SC1 was essentially bitcoin economics cloned (pyramid), SC2 moved to a much fairer system that was half way between Bitcoin and what we have now and finally we are at a fair system. In essence the first "easy coins" are a way to get investment, interest, supporters, etc. If you don't like the fact the first part of SolidCoin was a pyramid scheme like Bitcoin then don't use it, don't invest in it. See if that's a smart business decision.

Bitcoin remains a pyramid system so when trying to get new investors is going to become incredibly difficult the later you join the pyramid. SolidCoin doesn't suffer that problem anymore making it more marketable.

If you find an SC block, you earn about 0.07 Solidcoins for it. Someone would have to find 14 million blocks before they could have a tyrant node.
Of course, RealSolid would raise the difficulty and lower the reward long before anyone else got close.

IIRC someone computed that Solidcoins would have to be worth $24 each before one could break even mining them.
So, nobody mines SC. There is almost no volume of SC trades on exchanges. There are no merchants that accept SC as currency. This, according to the controller of Solidcoin is according to plan.

Ask yourself what someone who pre-mined 13 million coins wants for the currency.

he's just afraid someone catching up with a million coins, and become another enforcer node.