Slimcoin | First Proof of Burn currency | Decentralized Web - page 26.

johnwhitestar

sr. member

Activity: 697

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Slimcoin - the Proof of Donation inventors!

Quote from: casper77 on September 01, 2019, 09:24:13 AM

Quote from: johnwhitestar on September 01, 2019, 08:27:09 AM

Quote from: casper77 on September 01, 2019, 08:06:24 AM

i have 10K POB effective burnt coins and i have from 30 to 100 coins per day
i dont know from what that difference depends of

It probably depends on a causality sequence used in PoB algorithm but if you consider let say one month or one year span you'll probably see the stable average.
Should it be just 30 SLM/day your annual ROI would be 109% which is huge compared to masternode's ROI to not to speak about Bitcoin mining.
But if the average is for instance 65 SLM/day your ROI is just fabulous.
And the minimum investment is quite small, 10K is just 8$ considering the market prices.
I think it's an interesting basis to begin advertising SLM in terms of profits.

yes, but should remember that "effective burnt coins" decreases over time and you must regularly burn if you want to always have 10K
something like asic's depreciation of equipment

Good point. I have to think it over better in order our advertising message to be as near as possible to the reality.

casper77

legendary

Activity: 2884

Merit: 1035

Quote from: johnwhitestar on September 01, 2019, 08:27:09 AM

Quote from: casper77 on September 01, 2019, 08:06:24 AM

i have 10K POB effective burnt coins and i have from 30 to 100 coins per day
i dont know from what that difference depends of

It probably depends on a causality sequence used in PoB algorithm but if you consider let say one month or one year span you'll probably see the stable average.
Should it be just 30 SLM/day your annual ROI would be 109% which is huge compared to masternode's ROI to not to speak about Bitcoin mining.
But if the average is for instance 65 SLM/day your ROI is just fabulous.
And the minimum investment is quite small, 10K is just 8$ considering the market prices.
I think it's an interesting basis to begin advertising SLM in terms of profits.

yes, but should remember that "effective burnt coins" decreases over time and you must regularly burn if you want to always have 10K
something like asic's depreciation of equipment

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

Quote from: casper77 on September 01, 2019, 08:06:24 AM

i have 10K POB effective burnt coins and i have from 30 to 100 coins per day
i dont know from what that difference depends of

It probably depends on a causality sequence used in PoB algorithm but if you consider let say one month or one year span you'll probably see the stable average.
Should it be just 30 SLM/day your annual ROI would be 109% which is huge compared to masternode's ROI to not to speak about Bitcoin mining.
But if the average is for instance 65 SLM/day your ROI is just fabulous.
And the minimum investment is quite small, 10K is just 8$ considering the market prices.
I think it's an interesting basis to begin advertising SLM in terms of profits.

casper77

legendary

Activity: 2884

Merit: 1035

i have 10K POB effective burnt coins and i have from 30 to 100 coins per day
i dont know from what that difference depends of

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

Quote from: terracoinhelpstheworld on August 31, 2019, 05:10:25 PM

Is there any kind of estimate to see the ROI for PoB?

I'm not that much informed about the mechanism of PoB, but I remember that slimcoind releases the info about how much of SLM where invested into PoB.
Should it be possible to retrieve the info about the SLMs decayed we'd have the exact number of SLMs used to mine at that moment.
Regardless of any casual sequence used to produce the new SLM using PoB statistically speaking their number should be distributed proportionally between the miners in the long run.
That could probably give us a tool to estimate the ROI of PoB, thus to build an attractive advertising model.

terracoinhelpstheworld

newbie

Activity: 14

Merit: 0

Quote from: johnwhitestar on August 30, 2019, 08:26:20 AM

Quote from: d5000 on August 29, 2019, 08:09:48 AM

Quote from: johnwhitestar on August 27, 2019, 07:50:34 AM

I was thinking about how to make the concept of Proof of Burn immediately understandable and then to modify our signature accordingly.
What if we define Proof of Burn as "Decentralized mining without equipment"?

I always liked the analogy of "virtual mining". If you burn a coin, you "buy" a "virtual mining rig" which has the power to find blocks - hashrate is analogous to the amount of coins burned (minus decay rate).

This analogy was used already by the PoB inventor, Iain Stewart. See also: http://slimco.in/proof-of-burn-eli5/

I think "virtual mining" is the best and the most efficient way to explain the PoB, but we probably need to use the signatures as the most basic tool of SLM's advertising.
I'm not an advertising expert, but I studied something and to make the advertising work for us it has to have the following 3 elements in the following order:
- It has to mention the issue the reader has;
- It has to show that what we are advertising, PoB or SLM in this case, actually solves that issue;
- It has to contain a call to action, possibly with a sense of urgency, for instance something like "if all the conditions stay equal you'll get 100% ROI in 3 month with 100,000 SLM using PoB".
And of course all above has to be as concise as possible.
I'm available to go on with this brainstorming and if someone is interested we can create a small contest with the prize in SLMs for the best solution.

Considering the newcomers in the cryptoworld are looking for profit, maybe it would just worth mentioning an interesting ROI with PoB, without giving any explanation about PoB itself?
Is there any kind of estimate to see the ROI for PoB?

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

Quote from: d5000 on August 29, 2019, 08:09:48 AM

Quote from: johnwhitestar on August 27, 2019, 07:50:34 AM

I was thinking about how to make the concept of Proof of Burn immediately understandable and then to modify our signature accordingly.
What if we define Proof of Burn as "Decentralized mining without equipment"?

I always liked the analogy of "virtual mining". If you burn a coin, you "buy" a "virtual mining rig" which has the power to find blocks - hashrate is analogous to the amount of coins burned (minus decay rate).

This analogy was used already by the PoB inventor, Iain Stewart. See also: http://slimco.in/proof-of-burn-eli5/

I think "virtual mining" is the best and the most efficient way to explain the PoB, but we probably need to use the signatures as the most basic tool of SLM's advertising.
I'm not an advertising expert, but I studied something and to make the advertising work for us it has to have the following 3 elements in the following order:
- It has to mention the issue the reader has;
- It has to show that what we are advertising, PoB or SLM in this case, actually solves that issue;
- It has to contain a call to action, possibly with a sense of urgency, for instance something like "if all the conditions stay equal you'll get 100% ROI in 3 month with 100,000 SLM using PoB".
And of course all above has to be as concise as possible.
I'm available to go on with this brainstorming and if someone is interested we can create a small contest with the prize in SLMs for the best solution.

Quote from: d5000 on August 29, 2019, 08:09:48 AM

Edit: Done - http://slimco.in/mentions/

So many mentions of SLM, impressive!

d5000

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Activity: 3906

Merit: 6249

Decentralization Maximalist

Quote from: johnwhitestar on August 27, 2019, 07:50:34 AM

I was thinking about how to make the concept of Proof of Burn immediately understandable and then to modify our signature accordingly.
What if we define Proof of Burn as "Decentralized mining without equipment"?

I always liked the analogy of "virtual mining". If you burn a coin, you "buy" a "virtual mining rig" which has the power to find blocks - hashrate is analogous to the amount of coins burned (minus decay rate).

This analogy was used already by the PoB inventor, Iain Stewart. See also: http://slimco.in/proof-of-burn-eli5/

@muf18: I forgot to update the links Embarrassed

, will do it ASAP. You can send me anything for review if you want, or update it yourself like you please.

Edit: Done - http://slimco.in/mentions/

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

Quote from: terracoinhelpstheworld on August 28, 2019, 06:20:19 PM

Quote from: johnwhitestar on August 27, 2019, 07:50:34 AM

I was thinking about how to make the concept of Proof of Burn immediately understandable and then to modify our signature accordingly.
What if we define Proof of Burn as "Decentralized mining without equipment"?

How is your definition different from PoS?

I think technically PoS mining is called minting I guess, or?

terracoinhelpstheworld

newbie

Activity: 14

Merit: 0

Quote from: johnwhitestar on August 27, 2019, 07:50:34 AM

I was thinking about how to make the concept of Proof of Burn immediately understandable and then to modify our signature accordingly.
What if we define Proof of Burn as "Decentralized mining without equipment"?

How is your definition different from PoS?

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

I was thinking about how to make the concept of Proof of Burn immediately understandable and then to modify our signature accordingly.
What if we define Proof of Burn as "Decentralized mining without equipment"?

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: johnwhitestar on August 22, 2019, 05:14:54 PM

For the third time in few days SLM is among first coins on Freiexchange.

And books have some orders on both sides. Hopefully alt season is coming this winter.

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

Quote from: muf18 on August 25, 2019, 11:43:41 AM

I'll try today to update some contents of site, there are a few things to update.

That's great!

By the way do we have a tool that shows the current PoB profitability for the different quantity of SLMs to invest?

muf18

sr. member

Activity: 882

Merit: 310

I'll try today to update some contents of site, there are a few things to update.

@d5000 - would you review it later?

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

Quote from: keliokan on August 23, 2019, 11:03:27 AM

Quote from: gavrilo77 on August 23, 2019, 03:23:10 AM

Quote from: johnwhitestar on August 22, 2019, 05:14:54 PM

For the third time in few days SLM is among first coins on Freiexchange.

And diff is quite up

Someone started to mint like hell

There are consistent buy orders, maybe they are eager to sell before the price goes up :-)

But PoB even being more risky seems to be more profitable, or?

keliokan

jr. member

Activity: 86

Merit: 1

Quote from: gavrilo77 on August 23, 2019, 03:23:10 AM

Quote from: johnwhitestar on August 22, 2019, 05:14:54 PM

For the third time in few days SLM is among first coins on Freiexchange.

And diff is quite up

Someone started to mint like hell

gavrilo77

hero member

Activity: 819

Merit: 502

Quote from: johnwhitestar on August 22, 2019, 05:14:54 PM

For the third time in few days SLM is among first coins on Freiexchange.

And diff is quite up

johnwhitestar

sr. member

Activity: 697

Merit: 272

Slimcoin - the Proof of Donation inventors!

For the third time in few days SLM is among first coins on Freiexchange.

muf18

sr. member

Activity: 882

Merit: 310

Yeah, it worked once and now again a problem. Strange really strange.

gavrilo77

hero member

Activity: 819

Merit: 502

Quote from: muf18 on August 20, 2019, 03:52:57 PM

Remember 0.6 had BDB 6.1 updated, so you need all version of wallet or import privkey from old wallet.dat - it's not backward compatible, only from 4.8 (old versions) to 6.1 (0.6 version).

Edit: after restart of client it started to send properly coins.

I tried, it did not work. In coin control, amount of mined coins is totally different than my total balance

Edit: Even block explorer doesnt see my mined nor coins i mined trough burning. Weird. However, i am 130 000 blocks away to sync for older client, and will try to import wallets i am using with 0.6

Topic: Slimcoin | First Proof of Burn currency | Decentralized Web - page 26. (Read 137085 times)