Topic: Slimcoin | First Proof of Burn currency | Decentralized Web - page 102. (Read 137076 times)

SLM was originally traded on BTER i think the price was minimum 0.0002 BTC or maybe more

I like to imagine 1 SLM at $1 when I look at Mint by burn and Mint by Stake rewards ) Which doesn't seem too far from now. With increasing price of BTC and some attention Slim has been getting for the last weeks.

I understand this depend of the totally burnt SLM. If Many people burnt SLM you will get less coins, because diff will be higher. The same as regular mining, less people mine the coin reward is bigger because the chances to find the block are higher, more people start mining with GPU (rigs) chances to find the block are less. So you need to invest in more equipment to compete. Same is with SLM, if we have like 10 mil burnt coins now and you burnt 100 000 your profitability will be decreased until you burnt more coins. Advance is you dont spend energy to do the mining of SLM. So, conclusion is, we are lucky because people still dont use that much PoB .
This is how i understand, because at the time i burnt my coins there like 800 000 SLM totally. Blocks came to my wallet like crazy, but now the number of the blocks are decreased with 2 mil of burnt coins. Uh

I tested PoB. Looks like you've got 2-3 times as much coins as you have burned. I have 7 coins decayed and 22 minted coins.

I didn't change anything from original slimcoin.conf

here's my node list

I have heard the Bitetherium (BTE) is working on the POW mode, and some early miner has tried to burn their ETH for BTE, but the network is not so stable and it is hard for personal users to do that, I do not know if it will happen on this coin.

Can you share the node ?

I've got 6 active connections on mac v0.5

Is there any new node for version v0.5.0.0-g8e9fe2c-alpha ?

My slimcoin-qt has fully synchronize but i didn't get any connections.

Nice hodlings


I'm a huge fan of Raspis too and, lately, of Odroid. In a rather serendipitous flow of events, I managed to install and run a slim miner on my Odroid XU4 (mind you, the Slimcoin wallet still crashes) and started to mine on the Raspi Slimcoin wallet which I configured as a server. It's nice when you look at those tiny boxes under my TV, each talking to each other, sending hashes, crunching numbers, supporting an invisible web of constant interactions.

As per understanding the concept of "value" (or any other concept, for what matters) I once again resort to Buddhism, which postulates that for each event to be considered existent, you need 3 factors: the observer, the object being observed and the process formed between the observer and the object. Which basically means everything is value, given enough observers are engaging in similar cognitive processes towards the same type of objects.

Try to explain to an 17th century banker how we are all rich because we "have" numbers in machines powered by electricity (Good God!) talking to each other (a blatant case of witchcraft, by the way).

And that's exactly why, as a cognitive psychologist, I'm interested in understanding the cognitive processes that mediate this internal mental construction of “value”.

My stamping ground is the one described by Becker: “concepts generally useful in describing the behavior of animals and machines —hierarchical organization of processes, branch points, information, spheres of influence, goals, resource conflicts, condition conflicts, temporal organization, executive bookkeeping, executive decision-making, and statistical information.”

I'm from the “other side of the tracks”, mathematically speaking. Somewhat like a literary critic on poetry, has some understanding of the rationale for different approaches and, on that limited basis, critique them but can't actually create verse of their own to the required standard. It gives me enough height to see over the fence into economics and draw my own conclusions about a numerical discipline that has recently adopted behaviourist descriptive techniques that were discarded by psychology in the '60s as being too simplistic to be useful. I guess economics is in even more conceptual disarray than is psychology. But that's what you'd expect from what Joe says.

If I have read the runes correctly, there is a limited opportunity to establish a bit of level ground that might escape the full consequences of a collapsing hierarchy. As far as I can work out, tracking back through history to sources I was aware of at the time, a lot of what doesn't seem to make any sense atm is the (predictably) disruptive impact of technology on the human-mediated social structures that enable us as a species to function and this, in turn, has allowed a situation to develop that is now stressing the fundamental limitations of human cognitive ability.

On a lighter note, I've nevertheless found some grounding in just keeping an eye on the numbers ...

WTS:
30m PNut
17m Fuguecoin
20m Roulettecoin
21k Chaincoin

(Hence my recent interest in a Raspberry Pi and in exchanging my 5 year-old Asus i3 1.4GHz for something a little more capable, perhaps an XPS 15, the one with with 4K display, then I can run VMs in HD resolution.)

So I'm a hodler too. Just waitin' for the PNut pump, could be any day now.

Cheers

Graham

Slimcoin is one of those Bitcoin's "sihtcoins" IMHO. And in its own group it does pretty well.

I do see a conundrum, though. The group health is inversely proportional with its size: in Slimcoin, for instance, at this very moment we can safely negotiate whatever we need to do, 'cause we're just a handful of people. Subsequently, the value of the coin is dimes. The only way for the value to grow is for the group itself to grow. At some point, the group health will start to suffer, precisely because of its size... Like Bitcoin "crushed" itself with BCC.

I wonder where the "goldilocks" area for such a group is - or if there is such a "goldilocks" area at all. How many people in the group: 100? 1,000,000? 10,000,000?

More science:

http://www.abrmr.com/myfile/conference_proceedings/Con_Pro_89443/iacd4-3-14-7.pdf

Why is this relevant? In a peer-to-peer networked cryptocurrency, individualism is enforced by the cryptography allowing only pseudonymity, thus rendering ineffective the usual group-based social sanctions that mediate relationships between social entities - with the result that individuals can be complete PITAs and there's nothing the group can do about it.

OTOH, collectivism is enforced by the fact that all nodes stand and fall with the network. Acting singly as an individual is ineffective, only concerted, collective action can affect the overall state of the group so it doesn't actually matter that an individual is being a PITA, the network is immune, the group can safely ignore a single outlier, perhaps even a handful.

If, over time, that handful (of, in essence, dissenters to the social consensus) grows to become significant, they will evolve for themselves a separate system better suited to their individual and group objectives (c.f. BCC, ETC). There need be no overall deleterious effect on the parent group, the post-evolution state better suits the members of the parent group because the “troublemakers” now have their own coin, which (some will maintain) is a shitcoin, bound to fail, can't possibly succeed, is already failing, etc.

Cheers

Graham

Everything is subjective. Or, as Buddhism postulates, everything is dependent arising. It is based on something else, which is derived from something else, which is derived from something else and so on...

In this context, the "hodl" phenomenon is based on previous experiences with similar contexts. People won't sell their coins because, previously, there has been consistent reporting of economical appreciation of similar tokens, given you "hodl" to them enough time.

There's no intrinsic value of Bitcoin or Slimcoin, it's all arising within our own context.

As Jennifer disarmingly cautions, “Here comes the science” ...

http://www.pnas.org/content/108/49/19761.abstract

Hard enough for ya? Economic incentives are fundamentally misaligned with a reward that is “intrinsic, and intrinsically social”, i.e. won't work the way the maths says it will because, well, people are inherently social and therefore attempting to impose a canonical description is profoundly mistaken.


Cheers

Graham

Since there's not much trading volume it's inevitable I think. If one wants to buy some Slim he just have to buy what's for sale and there's not much. With 1 btc the price would go x2 again. Looks like long time holders know real value of this coin and won't sell at this price. And I tend to agree with them. $1M market cap is still ridiculous. I don't expect much coins for sale at least until 0.0001 BTC. That's probably when people would be ready to sell some coins after months or years of holding. 

You need a separate config file for each separate running instance of the client, each instructing the client to use a different port/rpcport binding ...

Two basic ways to achieve this on OSX:

1. use the GUI via a 3rd party app such as Lingon (which I use on the ancient TiBook that has been “put out to grass” for managing our SMTP/exim installation), the task here is to assign the appropriate slimcoin.conf to the launched instance.

2. use the shell via Terminal.app. Copy the basic slimcoin.conf to slimcoin_client_1.conf, slimcoin_client_2.conf, editing each to change the port/rpcport assignments to numbers (above 1024) of your choice (e.g. 55555/55556, 55557/55558).

/Applications/SLIMCoin.app/Contents/MacOS/slimcoind -datadir="/Users/drbarber/Library/Application Support/SLIMCoin/" -conf="slimcoin_client_1.conf"

/Applications/SLIMCoin.app/Contents/MacOS/slimcoind -datadir="/Users/drbarber/Library/Application Support/SLIMCoin/" -conf="slimcoin_client_2.conf"

This approach has the disadvantage that the clients are not started automatically on bootup. For this, Apple themselves recommend launchd

The less inspiring news is that there is no slimcoind included in the Slimcoin OSX dmg - because I haven't yet got round to updating the OSX-specific build script that I have been using to create the OSX Slimcoin dmg.

HTH

Graham

Awesome info but unfortunately I'm on OSX... not sure how to go about the bat file stuff.

Because to calculate the probability to find a block, all the algorithm considers is your value for "coin days" (your stake * days they have "matured" without having been moved). If you have a good value there (e.g. a large stake which was not moved for 90 days - that's the maximum value) then you will have good chances to find a block in less than a few hours.

The algorithm doesn't consider the time you were online. This would be very hard to calculate and would need lots of ressources because all nodes would have to control the others if they are online or not. I think there is no coin actually that has tried that.

This is a particularity of the Peercoin algorithm which is used by Slimcoin. Other coins like Blackcoin or NXT use only the amount of stake to calculate the probability to find a block, not the coin-days. In these cases you don't have even to worry about letting "mature" your coins.

Edit: Ah OK, I read your edit. Yes, you're right with that.

OK. But why i get PoS rewards after a few months offline wallet or locked wallet?

Edit: Yes. I try to tell that you dont need to keep wallet online 24/7. Just after some period to turn on stake, by the time coins will be matured again for PoS reward. This way is to avoid consuming CPU resources and many small transactions. Sorry, for confusion