Well, getting to a million SC coins would give you the privilege of mining at a super low difficulty. Over time, more people will become part of that club.
The 32 coins alternating between members every alternate block just pay for the interest of having the coins parked in Solidcoin instead of any other crypto currency.
Topic: SC Releases his 'white paper', hilarity ensues - page 5. (Read 13187 times)
You forgot "ccurrency that places extortion right in the blockchain"
Woops, sorry, I can't believe I forgot that one. ...Too ...many...records ...at the same time ... Does ...not ...compute 
You forgot "ccurrency that places extortion right in the blockchain" and "first ccurrency to openly engage in blatant electricity theft"
Wow. 13 million coins "post-premined". New records:
- ccurrency with the most premined coins
- ccurrency with the most unannounced premined coins (by unannounced I mean announced after launch)
- first ccurrency with post-premined coins
- ccurrency with the most premined coins
- ccurrency with the most unannounced premined coins (by unannounced I mean announced after launch)
- first ccurrency with post-premined coins
Actually, that ^ claim could be proven true or false provided source code is made available.
Where be SC2 sources ?
Where be SC2 sources ?
Tenebrix can never do that with a stated intent of the pregenned wallet being used for laundering purposes: if all transactions are described then laundering can't work, whilst if all aren't detailed then it can never be proven that the pregenned funds haven't been dumped on exchanges.
With all due respect, this is untrue. Not only public monitoring of the laundry is possible without destroying its functionality, Coblee here has proposed a very elegant "laundry super-hardening" security mechanism that, upon laundry's creation, will be eventually deployed in a voluntary manner (since I don't want to force anyone to contribute to hardening the laundry).
I think you can go to the main TBX thread to read up both on laundry monitoring and Coblee's proposal.
P.S.:
Having said that, "I give my buddeh's a millyoon but they can only pay me with it" seems like an awfully contrived scheme.
Haha ok, well close minded people are going to be close minded what can I say. Anyone that is reasonable will read this thread and see my intentions.
I think your intentions are good. I really do believe you wanted to create the perfect coin to replace bitcoin, which you think is seriously flawed. I give you credit for that. And I think you have superior coding skills. But I think you need to work on your economics and your communications a bit more.
It seems to me you are just turning solidcoin into a centralized fiat currency where you are the Fed. You may not agree, but a lof of people on this board feel the same way as I. You should ask yourself why. Maybe you are able to convince a hoard of people to follow your lead. I've seen worse things. I mean just look at how many people actually think the Fed is doing a good job.
My advice is if you really wanted to create a bitcoin killer, have an open mind and design your new coin WITH the smart people on this board. Keeping it closed source and a secret is not the way to go.
I also have a suspicion (no more than that) that he may actually be well-intentioned rather than trying to scam - just unfortunate he manages to do everything in a way which screams "scammer!".
There's two big things which turn off a lot of people here:
1. Concealing information (most obviously closed-source).
2. Central control of pregenerated funds.
SC is obviously not the only one guilty of 2 - and, in at least one respect, SC2 is better than Tenebric for that. SC has the OPTION of fully detailing all wallet activity relating to the pregenned coins (and has stated he intends to do so). Tenebrix can never do that with a stated intent of the pregenned wallet being used for laundering purposes: if all transactions are described then laundering can't work, whilst if all aren't detailed then it can never be proven that the pregenned funds haven't been dumped on exchanges.
End of the day it's pretty obvious to everyone that there was no need to generate and funnel funds to defend against 51% attacks. And if a fund was needed for something then it could have just been openly generated up front. All of the obfuscation just LOOKS like an attempt to do it under the radar.
Bottom line (for me) is that "you have to trust me - my intentions are good" has never been a good selling point to me. If someone's intentions are good then I tend to expect them to go out of their way to demonstrate it by removing their own ability to scam the system. Talk of future oversight committees (or whatever they're called) is just that - talk. If I trusted talk then there wouldn't need to be a committee.
Also, the banks have a tremendous amount of money, yet they still gambled both their money and our money.
Clearly money alone does not make one trustworthy.
Clearly money alone does not make one trustworthy.
Banks mostly spend others money!
BitcoinMedia is RealSolid, what?!
Quote
Well that is the 51% attack, and it basically means you can wake up tomorrow with zero Bitcoins in your wallet.
Wrong again. 51% makes double-spends of your own coins possible. A 51% attack on Bitcoin cannot make my coins disappear.He has to know this, right? All of those "articles" on his site merely make false claims about Bitcoin in order to try to scare people into using SolidCoin. How is CoinHunter/BitcoinMedia not in violation of forum rules?
Prove that I am CoinHunter or withdraw your comment.
The fact BitcoinExpress was banned from the forum says everything really about the quality of the accusations some forum members like to bandy around.
I am CoinHunter in the same way kangaroos jump down the main street of Sydney.
You did say you are RealSolid here: https://bitcointalksearch.org/topic/m.562956
Isn't RealSolid the same as CoinHunter?
The fact BitcoinExpress was banned from the forum says everything really about the quality of the accusations some forum members like to bandy around.
Not so much:
You're right. It turns out that this was a HUGE misunderstanding on my part. If BCX was banned, he'll be unbanned shortly.
Quote
Well that is the 51% attack, and it basically means you can wake up tomorrow with zero Bitcoins in your wallet.
Wrong again. 51% makes double-spends of your own coins possible. A 51% attack on Bitcoin cannot make my coins disappear.He has to know this, right? All of those "articles" on his site merely make false claims about Bitcoin in order to try to scare people into using SolidCoin. How is CoinHunter/BitcoinMedia not in violation of forum rules?
Prove that I am CoinHunter or withdraw your comment.
The fact BitcoinExpress was banned from the forum says everything really about the quality of the accusations some forum members like to bandy around.
I am CoinHunter in the same way kangaroos jump down the main street of Sydney.
Haha ok, well close minded people are going to be close minded what can I say. Anyone that is reasonable will read this thread and see my intentions.
I think your intentions are good. I really do believe you wanted to create the perfect coin to replace bitcoin, which you think is seriously flawed. I give you credit for that. And I think you have superior coding skills. But I think you need to work on your economics and your communications a bit more.
It seems to me you are just turning solidcoin into a centralized fiat currency where you are the Fed. You may not agree, but a lof of people on this board feel the same way as I. You should ask yourself why. Maybe you are able to convince a hoard of people to follow your lead. I've seen worse things. I mean just look at how many people actually think the Fed is doing a good job.
My advice is if you really wanted to create a bitcoin killer, have an open mind and design your new coin WITH the smart people on this board. Keeping it closed source and a secret is not the way to go.
Haha ok, well close minded people are going to be close minded what can I say. Anyone that is reasonable will read this thread and see my intentions.
You've again sidestepped the multiple grevioius accusations of your deceitful intentions.
If any mods have been keeping up, it's obvious you're dismissing critical questions and allegations.
I believe you'll receive your due scammer label soon enough
It's 2 minute blocks ideally (I'd say 90 second average will likely happen due to the retarget algorithm). So that's 960 blocks per day if the trusted blocks take 0 time (they don't but let's forget it for this calc) and the normal blocks take 90s.
960 blocks per day * 1.6 = 1536SC a day, which would give us 1302 days or 3.5 years until they are completely funneled back into CPF. That's if trusted blocks took no amount of time, and with lower than maximum retargets. So fairly on the side of caution.
What a snail way to get 2 million coins, I must have failed my scamming classes.
960 blocks per day * 1.6 = 1536SC a day, which would give us 1302 days or 3.5 years until they are completely funneled back into CPF. That's if trusted blocks took no amount of time, and with lower than maximum retargets. So fairly on the side of caution.
What a snail way to get 2 million coins, I must have failed my scamming classes.
20k blocks mined first day. Assuming adoption picks up (and it would have without such bombshells) the generation rate would never "catch up" to difficulty rising. We saw this early on. The higher the difficulty went, the faster the block generation went.
Looks like the retarget rate was designed for this behavior.
So instead of 3.5 years steady state you're probably expecting more like 6 months at call it a modest 8000 blocks/day average.
Haha ok, well close minded people are going to be close minded what can I say. Anyone that is reasonable will read this thread and see my intentions.
It's 2 minute blocks ideally (I'd say 90 second average will likely happen due to the retarget algorithm). So that's 960 blocks per day if the trusted blocks take 0 time (they don't but let's forget it for this calc) and the normal blocks take 90s.
960 blocks per day * 1.6 = 1536SC a day, which would give us 1302 days or 3.5 years until they are completely funneled back into CPF. That's if trusted blocks took no amount of time, and with lower than maximum retargets. So fairly on the side of caution.
What a snail way to get 2 million coins, I must have failed my scamming classes.
960 blocks per day * 1.6 = 1536SC a day, which would give us 1302 days or 3.5 years until they are completely funneled back into CPF. That's if trusted blocks took no amount of time, and with lower than maximum retargets. So fairly on the side of caution.
What a snail way to get 2 million coins, I must have failed my scamming classes.
Um, i wish i make 2 million bitcoins every 3.5 years. You are trying to replace bitcoins, right? Imagine if every 3.5 years, Satoshi gets 2 million bitcoins funneled into his SPF (Satoshi Personal Fund)...
It's 2 minute blocks ideally (I'd say 90 second average will likely happen due to the retarget algorithm). So that's 960 blocks per day if the trusted blocks take 0 time (they don't but let's forget it for this calc) and the normal blocks take 90s.
960 blocks per day * 1.6 = 1536SC a day, which would give us 1302 days or 3.5 years until they are completely funneled back into CPF. That's if trusted blocks took no amount of time, and with lower than maximum retargets. So fairly on the side of caution.
What a snail way to get 2 million coins, I must have failed my scamming classes.
960 blocks per day * 1.6 = 1536SC a day, which would give us 1302 days or 3.5 years until they are completely funneled back into CPF. That's if trusted blocks took no amount of time, and with lower than maximum retargets. So fairly on the side of caution.
What a snail way to get 2 million coins, I must have failed my scamming classes.
Wait, you're receiving 1.5k SC a day, off the electricity of other miners. Whilst repeatedly deceiving them. Looks like you aced your scam classes.
It's 2 minute blocks ideally (I'd say 90 second average will likely happen due to the retarget algorithm). So that's 960 blocks per day if the trusted blocks take 0 time (they don't but let's forget it for this calc) and the normal blocks take 90s.
960 blocks per day * 1.6 = 1536SC a day, which would give us 1302 days or 3.5 years until they are completely funneled back into CPF. That's if trusted blocks took no amount of time, and with lower than maximum retargets. So fairly on the side of caution.
What a snail way to get 2 million coins, I must have failed my scamming classes.
960 blocks per day * 1.6 = 1536SC a day, which would give us 1302 days or 3.5 years until they are completely funneled back into CPF. That's if trusted blocks took no amount of time, and with lower than maximum retargets. So fairly on the side of caution.
What a snail way to get 2 million coins, I must have failed my scamming classes.
b) smart enough to come up with a mechanism to funnel 12 million coins into his personal wallet every year into perpetuity
It's actually 200K * 10, or 2 million total that can be "Funneled" back into CPF. Like I said, once they drop past 1 million they are useless and cannot be used. Have you worked out how long that 2 million would take to be completely funneled to CPF? Perhaps you should.
You've already stated you've receieved 32k today alone. 2m/32k = 62.5 days.
Are you being deliberately obtuse? 5% every second block is from a trusted node, not 10%. 5% is created like a normal generate, 5% is from trusted node.
So that's 1.6SC currently every other block, or 16K at the moment. As difficulty increases block generation will decrease and we are seeing that now. Trying to use the "low diff" situation to formulate your ratio is quite stupid.
Your scam has readjusted difficulty 60x already, yet is still only at 1/7th of target block generation.
Trying to use 'the difficulty will adjust' when clearly it isn't to formulate your ratio is "quite stupid."
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