Slimcoin | First Proof of Burn currency | Decentralized Web - page 20.

d5000

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Quote from: johnwhitestar on December 11, 2019, 06:58:25 AM

Agreed, the 39% of profit is in SLM as we've calculated a few posts ago together with some member of community.

I'm not sure we should add that it's calculated in SLM as in crypto-world it's always calculated in the currency we are speaking about (and you explained very well why) and also because it's the right thing to avoid deceptive advertising, but in the same time the goal of advertising is to put forth the advantages of the advertised thing. If we make too much remarks, brackets and * than the reader will got distracted and the message won't pass.

What about the following formulation: "that by the recent estimates provides up to 39% of yearly SLM returns" (instead of "yearly profit")?

Quote

I'd like to ask: Do we have PoS at 10% or we need to check it?

Yep, PoS is at 10%:

Code:

int64 nRewardCoinYear = nTime > POB_POS_TARGET_SWITCH_TIME ? (10 * CENT) : CENT;

(CENT is 0.01 SLM, so an 1-year-old 1 SLM utxo gets 0.10 SLM, or 10% of its value.)

I however have a bit a hard time to promote that because I consider that value relatively high, and I would like to see it lowered in a future hard fork. For now, a hard fork is obviously very difficult, but if we progress with the new Peercoin code implementation somewhen, then a HF will eventually become mandatory. It's obviously up to the community to decide a new PoS reward. And the high PoS rewards are surely a feature that can attract new users now. But if we change that in the future, they would surely feel cheated.

johnwhitestar

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Quote from: d5000 on December 11, 2019, 06:03:44 AM

Were the 39% measured in SLM? In this case, I would explicitly add that (e.g. "[...] that by the recent estimates provides up to 39% of yearly profit (measured in SLM)" [...]).

I think it's impossible to provide a profit figure in USD, BTC or other currencies, as we can't predict the price evolution. If SLM recovers from the dip caused by the recent large dump then it's likely that the profit for PoB or PoS minters buying SLM now could be much superior. But it can also the other way around.

Agreed, the 39% of profit is in SLM as we've calculated a few posts ago together with some member of community.

I'm not sure we should add that it's calculated in SLM as in crypto-world it's always calculated in the currency we are speaking about (and you explained very well why) and also because it's the right thing to avoid deceptive advertising, but in the same time the goal of advertising is to put forth the advantages of the advertised thing. If we make too much remarks, brackets and * than the reader will got distracted and the message won't pass.

However if we decide to add that specification I'm ready to edit the text. Just keep in mind that we've already put some demotivator in our text, so if we go on with demotivators at some point advertising may not make too much sense.

Quote from: eddycurrent on December 11, 2019, 06:16:32 AM

I had a bit of a look and it looks pretty good but the second to last sentence caught my eye. I wonder whether this, "Along with the unique mining algorithm Slimcoin offers the ASICs resistant CPU mining algorithm and PoS." Should instead read "Along with a unique mining mechanism, Slimcoin offers the ASICs resistant CPU mining algorithm dcrypt, and PoS at 10% (might want to check this)" I thought it would be good to actually mention the algorithm's name to interest people and I that using the word mechanism over algorithm would just make it a clearer distinction. Also, you may want to consider using the word minting over the word mining in some cases. Just some thoughts anyway. Feel free to ask for clarification if you need or to ignore if you think the original is more appropriate.

Thank you very much for your notes.

I'll edit my text in agreement to your thoughts and will be back with the new one, as many improvements were already added.

I'd like to ask: Do we have PoS at 10% or we need to check it?

eddycurrent

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Quote from: eddycurrent on December 11, 2019, 01:21:05 AM

Quote from: johnwhitestar on December 10, 2019, 12:52:22 PM

Quote from: d5000 on December 10, 2019, 11:26:09 AM

Like it! I would introduce the following small changes:

"Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 39% of yearly profit, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for future generations"

(the "hassle" part is imo not that important as it's more or less the same that the previous sentence, so one could use the space to refer to another advantage)

"The economic model that is behind Proof-of-Burn mechanism is not within the get-rich-fast trend, but rewards long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated."

(to specifically include the phrase "long-term involvement", or, if you like it more "long-term investment")

Thank you very much for your comments! Let's wait another day to see whether someone else has anything to add and then I'll send it to Freiexchange with you corrections.

I'll try and have a look tonight and get back to you.

I had a bit of a look and it looks pretty good but the second to last sentence caught my eye. I wonder whether this, "Along with the unique mining algorithm Slimcoin offers the ASICs resistant CPU mining algorithm and PoS." Should instead read "Along with a unique mining mechanism, Slimcoin offers the ASICs resistant CPU mining algorithm dcrypt, and PoS at 10% (might want to check this)" I thought it would be good to actually mention the algorithm's name to interest people and I that using the word mechanism over algorithm would just make it a clearer distinction. Also, you may want to consider using the word minting over the word mining in some cases. Just some thoughts anyway. Feel free to ask for clarification if you need or to ignore if you think the original is more appropriate.

d5000

legendary

Activity: 3906

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Decentralization Maximalist

Were the 39% measured in SLM? In this case, I would explicitly add that (e.g. "[...] that by the recent estimates provides up to 39% of yearly profit (measured in SLM)" [...]).

I think it's impossible to provide a profit figure in USD, BTC or other currencies, as we can't predict the price evolution. If SLM recovers from the dip caused by the recent large dump then it's likely that the profit for PoB or PoS minters buying SLM now could be much superior. But it can also the other way around.

johnwhitestar

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Slimcoin - the Proof of Donation inventors!

Quote from: casper77 on December 11, 2019, 02:11:41 AM

Quote from: d5000 on December 10, 2019, 11:26:09 AM

Like it! I would introduce the following small changes:
"Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 39% of yearly profit, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for future generations"
(the "hassle" part is imo not that important as it's more or less the same that the previous sentence, so one could use the space to refer to another advantage)
"The economic model that is behind Proof-of-Burn mechanism is not within the get-rich-fast trend, but rewards long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated."
(to specifically include the phrase "long-term involvement", or, if you like it more "long-term investment")

i think need to be careful with numbers
39 is too much especially price has decreased x2
30 is better and maximum

Thank you for your contribution, edited!

casper77

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Quote from: d5000 on December 10, 2019, 11:26:09 AM

Like it! I would introduce the following small changes:
"Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 39% of yearly profit, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for future generations"
(the "hassle" part is imo not that important as it's more or less the same that the previous sentence, so one could use the space to refer to another advantage)
"The economic model that is behind Proof-of-Burn mechanism is not within the get-rich-fast trend, but rewards long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated."
(to specifically include the phrase "long-term involvement", or, if you like it more "long-term investment")

i think need to be careful with numbers
39 is too much especially price has decreased x2
30 is better and maximum

eddycurrent

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Activity: 61

Merit: 3

Quote from: johnwhitestar on December 10, 2019, 12:52:22 PM

Quote from: d5000 on December 10, 2019, 11:26:09 AM

Like it! I would introduce the following small changes:

"Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 39% of yearly profit, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for future generations"

(the "hassle" part is imo not that important as it's more or less the same that the previous sentence, so one could use the space to refer to another advantage)

"The economic model that is behind Proof-of-Burn mechanism is not within the get-rich-fast trend, but rewards long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated."

(to specifically include the phrase "long-term involvement", or, if you like it more "long-term investment")

Thank you very much for your comments! Let's wait another day to see whether someone else has anything to add and then I'll send it to Freiexchange with you corrections.

I'll try and have a look tonight and get back to you.

johnwhitestar

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Activity: 697

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Slimcoin - the Proof of Donation inventors!

Quote from: gavrilo77 on December 10, 2019, 05:50:18 PM

Dont wait too long Wink

, SLM is already waiting too long

Agreed, but Rome wasn't built in a day either.

gavrilo77

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Quote from: johnwhitestar on December 10, 2019, 12:52:22 PM

Quote from: d5000 on December 10, 2019, 11:26:09 AM

Like it! I would introduce the following small changes:

"Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 39% of yearly profit, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for future generations"

(the "hassle" part is imo not that important as it's more or less the same that the previous sentence, so one could use the space to refer to another advantage)

"The economic model that is behind Proof-of-Burn mechanism is not within the get-rich-fast trend, but rewards long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated."

(to specifically include the phrase "long-term involvement", or, if you like it more "long-term investment")

Thank you very much for your comments! Let's wait another day to see whether someone else has anything to add and then I'll send it to Freiexchange with you corrections.

Dont wait too long Wink

, SLM is already waiting too long

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

Quote from: d5000 on December 10, 2019, 11:26:09 AM

Like it! I would introduce the following small changes:

"Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 39% of yearly profit, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for future generations"

(the "hassle" part is imo not that important as it's more or less the same that the previous sentence, so one could use the space to refer to another advantage)

"The economic model that is behind Proof-of-Burn mechanism is not within the get-rich-fast trend, but rewards long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated."

(to specifically include the phrase "long-term involvement", or, if you like it more "long-term investment")

Thank you very much for your comments! Let's wait another day to see whether someone else has anything to add and then I'll send it to Freiexchange with you corrections.

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

Like it! I would introduce the following small changes:

"Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 39% of yearly profit, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for future generations"

(the "hassle" part is imo not that important as it's more or less the same that the previous sentence, so one could use the space to refer to another advantage)

"The economic model that is behind Proof-of-Burn mechanism is not within the get-rich-fast trend, but rewards long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated."

(to specifically include the phrase "long-term involvement", or, if you like it more "long-term investment")

johnwhitestar

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Activity: 697

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Slimcoin - the Proof of Donation inventors!

I've wrote this draft of the advertising announcement:

"Officially announced on May 17th, 2014 and fairly launched 4 days later Slimcoin is one of the few truly decentralized coins around, so whoever can join and contribute to its development and will be accepted as equal by the other contributors on the basis of his abilities and dedication. Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 39% of yearly profit, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed, saving in this way all the possible hassle to the miners and a clean environment for the future generations. The economic model that is behind Proof-of-Burn mechanism is not within the get-rich-fast trend, so Slimcoin has a potential to shine should the traditional coin’s markets become saturated. Along with the unique mining algorithm Slimcoin offers the ASICs resistant CPU mining algorithm and PoS. The community is active on Discord and Bitcointalk."

Any suggestion?

d5000

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I also would focus on PoB and its long-term investment rewarding aspect.

Another item could be the increased security with respect to pure PoS coins, but this would really come into effect if we release the "PoS block hard cap" version (which only allows 13 PoS blocks in a row, so nobody can create long pure PoS chains) where still some testing and a soft fork is required. I have already integrated Graham's last changes into the hard cap client (and as I wrote before, I solved the bug that stopped staking), so if someone likes to join Testnet he/she is welcome

eddycurrent

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Quote from: johnwhitestar on December 09, 2019, 08:27:53 AM

Quote from: eddycurrent on December 09, 2019, 05:39:31 AM

Quote from: johnwhitestar on December 09, 2019, 03:38:57 AM

Quote from: eddycurrent on December 08, 2019, 06:46:04 PM

....the ability to mine on extremely low end hardware like small ARM boards. The second in particular is the main thing that gives SLM an advantage over any other coin.

Here you mean PoB algorithm, right?

Primarily, but also PoS to a small extent.

Yes, but I think we need to advertise PoB above all, because SLM is a pioneer in it and also because the ROI in PoB is much higher than in any PoS coin, including SLM itself.

That, and it also encourages long term involvement much more than PoS and especially PoW.

johnwhitestar

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Slimcoin - the Proof of Donation inventors!

Quote from: eddycurrent on December 09, 2019, 05:39:31 AM

Quote from: johnwhitestar on December 09, 2019, 03:38:57 AM

Quote from: eddycurrent on December 08, 2019, 06:46:04 PM

....the ability to mine on extremely low end hardware like small ARM boards. The second in particular is the main thing that gives SLM an advantage over any other coin.

Here you mean PoB algorithm, right?

Primarily, but also PoS to a small extent.

Yes, but I think we need to advertise PoB above all, because SLM is a pioneer in it and also because the ROI in PoB is much higher than in any PoS coin, including SLM itself.

eddycurrent

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Quote from: johnwhitestar on December 09, 2019, 03:38:57 AM

Quote from: eddycurrent on December 08, 2019, 06:46:04 PM

....the ability to mine on extremely low end hardware like small ARM boards. The second in particular is the main thing that gives SLM an advantage over any other coin.

Here you mean PoB algorithm, right?

Primarily, but also PoS to a small extent.

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

Quote from: eddycurrent on December 08, 2019, 06:46:04 PM

....the ability to mine on extremely low end hardware like small ARM boards. The second in particular is the main thing that gives SLM an advantage over any other coin.

Here you mean PoB algorithm, right?

eddycurrent

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Quote from: johnwhitestar on December 01, 2019, 02:52:38 PM

Important Update 2019-12-08: Freiexchange is offering to us the possibility to advertise SLM this week on their new newsletters channel as a featured coin. We need to provide an image and the text. What concepts would you like to put into?

Personally, I think two of the key things are the GPU/ASIC resistant algorithm, and the ability to mine on extremely low end hardware like small ARM boards. The second in particular is the main thing that gives SLM an advantage over any other coin.

johnwhitestar

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Quote from: casper77 on December 01, 2019, 11:11:47 AM

maybe someone who buyed top cpu to mine monero on new algo decided to mine SLM
i don’t see another explanation yet
Grin

For me it's difficult to find an explanation as well, but in my experience the increase of difficulty is a good sign. It sometimes precedes the rebirth of coin.
But is it possibile that someone is trying to perform the 51% attack?
I think it's not because it was just a short spike, wich by the way was just a double of something pretty normal we have had from October 10, 2019 to November 3, 2019.

Important Update 2019-12-08: Freiexchange is offering to us the possibility to advertise SLM this week on their new newsletters channel as a featured coin. We need to provide an image and the text. What concepts would you like to put into?

casper77

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maybe someone who buyed top cpu to mine monero on new algo decided to mine SLM
i don’t see another explanation yet
Grin

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