Topic: Slimcoin | First Proof of Burn currency | Decentralized Web - page 47. (Read 137085 times)

Issue was broached on Discord. Apparently they are experiencing problems with change addresses, previously the problem was seen as ignorable but that's no longer the case. They're basically asking for the wallet to be reprogammed to suit the exchange back-end or basically be delisted, their stance is that the wallet behaviour is incorrect. Same goes for Peercoin. I didn't understand the description of the problem and responded to that effect. They indicated that they'd try and formulate the issue more clearly. That was a week or so ago.

Cheers

Graham

Let's see,
At least they improved their communication skills.

Big buy on freiexchange yesterday : 0.09 btc (+40000 [email protected])

Novaexchange reports "integration issues between the SLM wallet and Nova" on their news page:

https://novaexchange.com/news/

I wonder what the problem could be, as the SLM wallet was working fine on Novaexchange before they closed down last year.

PoB is self-regulating - if more coins are burnt, then the time to become profitable increases. This design decision has an obvious goal - if people burned too many coins, supply would decrease too much. You have to take into account that if PoB always was profitable, then the supply would always tend to go to zero. That would be good for hodlers, but not for a currency.

So there is a certain "equilibrium burn rate". It would be interesting to calculate how high this rate is actually (afaik that has never been made), e.g. which one is the maximum burn rate if people want a positive ROI (measured in SLM) in 12 months or less. The calculation is pretty complex as PoB rewards change according to difficulty.

The equilibrium burn rate obviously could be modified (with an hardfork): setting it higher (via a higher PoB reward or a higher proportion of PoB blocks) would transform SLM into a more "hodler-friendly", deflationary currency; while the opposite would make it more inflationary.

I guess the PoB feature is good when a the PoW difficulty is high enough.
I do not think it needs to be changed. It might be better to re-balance PoW, PoS and PoB blocks distribution.

K.

If the PoB itself is fine, how can we improve the implementation of it to make it viable?

There is no flaw in the protocol - it's the characteristic of it, and how it's implemented. It was designed so.

Is there a fundamental flaw in PoB idea or is it due to poor implementation of PoB in Slimcoin?

Slimcoin had a little boom and I think to remember that at the very beginning it was one of the top-100 coins at Coinmarketcap. But then it was affected by a long decline which almost led into the "death" of the coin in late 2016 (it was gjhiggins who saved it actually, releasing a new version).

I think there were four major factors causing this decline:
- first, the original client was very buggy, so people left because of usability and security issues (frequent orphan blocks/forks, the client getting stuck randomly, etc). This is now fortunately solved.
- second, many people tried out the PoB feature, but were disappointed by the low returns  and left. You have to mint a long time to get profitable - in times of high burning activity you have to wait at least a year (like now)
- third, the original developer left the project, with major bugs staying unsolved.
- fourth, the fact that it was only traded on BTER and lost "everything" when BTER delisted it in early 2016.

Well, after this decline, Slimcoin stayed basically "under the radar" until now. And the crypto market has changed dramatically in 2016 and 2017 - there are now projects that have tens or hundreds of millions of marketing funds collected by ICOs, and decentralized projects like Slimcoin can hardly compete. Also, it doesn't help that exchanges charge immense fees now to add a coin.

There are, however, decentralized projects which were able to compete with the centralized competition (Monero, for example, and obviously Bitcoin which seems still "uncontested"). This gives me hope that Slimcoin could do much better in the future. I think the boom of centralized coins won't last forever. As people realize they're often scams or don't make much sense (why use a centralized coin if you have Paypal?) decentralized coins will return to become dominant.

Hi!
I really like the Proof of Burn idea. How come Slimcoin has so little popularity and trading activity on exchanges after 3 years of existence?

@keliokan - so you probably a considerable holder.

Maybe we should organize some meeting of bigger holders, to achieve consensus, what we can do, and how we can help on Slimcoin development.

One of the major problem that we had with the exchange was the fall, for few months, of Novaexchange.
Now that it started again, the wallet is not synchronised... So deposit are not possible.

To attract more people, it would be nice to have an active pool.

I am mining SLM since 2 years now. I have great hope into it.

K.

About ads - I don't know, who is going to pay for it.

I mean there need to be some consensus, because it can't be just one person, it would be unfair for this person to pay all expenses.
@gavarillo already helped us immense for example, with giving some donation to @barry, for his pool work.

If it's like 100USD, it's not a problem, but I think such "campaign" wouldn't do anything - it would need to be thousands of dollars to get the system going probably.

About exchanges - I thought about crypto-bridge - it's a decentralized exchange (but they charge a fee...) - it was 1BTC till recently. Now it's 2BTC - lol.
Fees are going higher, even tho crypto won't probably pump for whole year, so it's really amusing situation.

I would just like to have a better liquidity in the market - price doesn't matter so much, if liquidity is good enough, and there are daily trades.
For now we are one of the most unliquid assets, as I have seen, even on freiexchange.

There are sometimes some peak vols - but then later it flattens out.

Besides - about signature campaign - we can't really fight with those shitcoins, that are being creatted out of thin air, and airdropped to people, and have "value" on exchanges.
Sorry, but such coins as Semux, are killing whole purpose - and it's not even this (cause project I consider quite interesting).

But a lot of coins and tokens that are created within one click (ETH/Waves tokens), or genesis block (own blockchain), is hard to "compete".

I can make an address, where I will put everything that I have mined - but this still won't be enough.

It's really saddening, that centralized craps, and centralized distribution is the way to go here, and it became full of scams, and useless crap.

Because the problem cannot be replicated, it's near-impossible to provide constructive help.

Anyone else experiencing this issue? Anyone have any practicable ideas on how to reproduce the problem?

Cheers

Graham

It's elderly kit, overdue for upgrade. The server was getting overwhelmed. I decided to allocate some more RAM to Fuseki , seems to have eased things somewhat. I have a browser tab open on Hetzer's server auction page, I'm that close to reprovisioning

Cheers

Graham

Hello,

I have around 7% difference between my wallet and the bchain explorer.
I have also one empty wallet (no burning) that still contains few thousands of coins on the bchain explorer.

K.

I just wanted to access ACME (http://tessier.bel-epa.com:5064) to know if I could find keliokan's problem, but it didn't work, is it currently offline? (minkiz.co works again).

I think it's a good idea - signature campaigns may not be perfect but they can make people try out Slimcoin, and are maybe the only option to pay out campaigners in Slimcoin and not having to change them into BTC or so.

However, 50K are not really much - most campaigns pay at least $10 per week for well-ranked users, some as much as $100. The campaign then would have to be limited to low-quality writers, and I think we know that these only produce spam and would add almost nothing to exposure.

If paying in BTC is an option - what about a campaign at Anonymous Ads? Non-gambling/Non-NSFW ads are really cheap there (<2 cents per click).

---

May be relevant for the "Slimweb" audience:

- Uganda is charging a "social network tax" of about 5 cent per day (almost $20 per year) to users of centralized services like Twitter and Facebook
- Tanzania is requiring bloggers and other web site operators (even Youtube channel operators) to buy a license of about $900 per year (!).

Both may not be big markets, but they are examples why a decentralized web alternative is so urgently needed. Not only dictatorships like China are restricting free speech in the Web, also so-called "democracies" are  .

Sorry for the lack of information.
My mining wallet does not appear (bchain).
I sent a small amount into it and now i can see it.
I thought that a mining reward counted for a transaction...

Something else, my wallet balance does not correspond to the balance into the bchain explorer...

K.

Too little info and therefore confusing. Which explorer and which wallets?
Cheers

Graham

That's a question to bchain service provider...
That was one of the problems, which was going to be addressed by Graham's ACME.