Topic: On the Solidcoin Economic Changes (Read 7833 times)

Actually the cross-mining pool was my idea, and I run it. I have a partner who has helped by supplying the servers, and making a frontend for it. RealSolid is not directly involced in the pool at all, here merely is advertizing it. We pay 50% of the current market rate to the miner in a pps method, and once a block is found, we cash it out for SC, subtract from it the pps balances we have already committed to, and pay the remainder out in a proportional method based on the shares submitted during the 24 hours prior to the block find.

We actually don't charge any fees currently, and are hoping to not charge any in the future.

Coinhunter shit all over everyone's criticism while the price of SC2 plummeted

the idea of cross-mining pool is interesting though...but, at 50% the pay of btc PPS, and you have no clue where's the rest going to..

lemme guess, his pocket?

Hey im back after four days.

Wft happened to this thread?

Many of my posts make light of the fact that the average forum user is not very intelligent. Naturally, the idiots don't like me too much.

Usually because they attract cunicula.  When you wake up check his post history, it will make you want to go back to bed.

More SolidCoin monetary policy... nice! Horray for early adopters! Wasn't SolidCoin supposed to NOT award early adopters?

Why did people ever agree to work in the World Trade Towers when a single entity proved capable of destroying them in a matter of minutes?

How did SolidCoin ever gain traction when a single entity has proven capable of changing the fundamental rules of the currency such that a block reward has been reduced from 32 coins to 0.07 coins ( 1 / 457 th of the original ) within 6 months of its release?

All existing SC owners prior to the change can now bail out at a price which is 5 times higher than a week ago. If they want to bail they can do so at a nice profit.

02.02.12 07:59   Sell   0.00742   11.4348   0.08484621
02.02.12 07:59   Sell   0.00743   36   0.26748
02.02.12 07:59   Sell   0.0075   840.66   6.30495
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02.02.12 07:57   Sell   0.00751   554.345   4.16313095
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02.02.12 07:55   Sell   0.00782   255.028   1.99431896
02.02.12 07:55   Sell   0.00783   28.879   0.22612257
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02.02.12 07:53   Sell   0.00783   11   0.08613
02.02.12 07:33   Buy   0.009999   1   0.009999

01.02. 20:12:49    sell ►    0.007101    142.6113    1.01268284   
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01.02. 15:01:21    sell ►    0.00781    1818.1815    14.19999752   
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31.01. 19:32:08    sell ►    0.00827    16.04    0.1326508   
31.01. 19:24:01    sell ►    0.00827    15.0737    0.1246595

BIP16 transactions are simply accepted as valid by old clients. They can't become isolated due to this.

f an attacker DID manage to create a block with a timestamp after the switchover date and a bad /P2SH/ transaction in it, then some percentage of the network will try to build on that bad block.  Lets say 70% of hashing power supports /P2SH/.  That would mean only 70% of the network was working on a good block-chain, and the result would be transactions taking, on average, about 14 minutes to confirm instead of the usual 10 minutes.

SolidCoin is not a cryptocurrency, or at least by most people's definition of cryptocurrency. There's really no need for miners. SC miners do not secure the chain. That is already done by the trusted nodes. So miners are basically wasting their electricity.

Think about it this way... with Bitcoin, miners hash to secure the network and they get rewarded for the security that they are adding to the network. With SolidCoin, miners are just wasting electricity because RealSolid thinks that this is a fair way to handout SCs. It's similar to a King asking his peasants to run around in circles. The faster they run, the more coins they get. So of course, profit-driven peasants will run around in circles, which adds no value to anything. King RealSolid realized that he is passing out too many solidcoins this way, which will dilute his own holdings. So guess what, he decided to pass out only 5 SC (instead of 32 SC) to his loyal peasants for each circle they complete. Then what happens? Well there are less peasants running around in circles b/c it's not worth it anymore. But that doesn't matter to RealSolid, because peasants running around in circles doesn't add any value in the first place. Hmm...

Also, since the trusted nodes controls 50% of the blocks, by definition, you cannot do a 51% attack unless you have control of a trusted node.

It's great when you create all the rules for your own realm AND you actually find suckers willing to follow you.

Firstly why would I want to "shut down SolidCoin" ?