Yeah you are right, mining isn't profitable for most people until the SolidCoin price increases to over $1 , so that means we won't have much inflation at all until that point, which in turn means price will go up.

Remember we have investors continually buying SolidCoins and even a bitcoin merged mining pool which buys SolidCoins off the market :- http://solidcoinmafia.com . Over time this should allow the price to correct itself to a profitable level for miners.

And if mtgox supports the new chain and you don't? You think 95% of the trade market is going to just move like liquid into another exchange that operates on the old rules? You think these other exchanges could even handle the load that mtgox has optimized itself for? Most people who use Bitcoin don't even understand how it works and will accept anything the developers tell them is good for them."Guys we need to put a special block in to give the development team more funds so we can continue to improve Bitcoin" - Most people go "yay that's good".

Just admit it, bitcoin is controlled by only a handful of people, you can try to wish that it was different as much as you like but it doesn't change the reality.

The recent economic changes in SolidCoin which made mining a lot more fair has also seen the SolidCoin USD price increase dramatically. Since the change was announced we hit a high of $0.14 per SolidCoin and it is now trading in decent volume around $0.06 . A few weeks ago this was around $0.02 .

If you want to read more about the economic changes in SolidCoin and how we managed to fix the inflation/deflation issue without a central bank being needed please read :- http://solidcoin.info/economy.html

Ok so lets revise this. BTCGuild, deepbit and slush and mtgox are needed to force any change onto the bitcoin users. That's 4 people. You may say it's a stretch just like I say it's a stretch I and the other 9 trust account holders want to ruin SolidCoin and scam thousands of users.

So that's falsehood #1 from you.



If the major pools and the exchange which 96% of trade goes through accepts something the "original" bitcoin is now worthless. Also due to having central control of the main download points, soon enough most people will be on the new version.


Except they can do whatever they want. They may not be able to get "Deathandtaxes" running their "special brew" but they can get the people that matter on it and thereby make your "old" Bitcoins useless. Just like with the multisig change.


Yes you do, this multisig change provides a look into how any real update will be forced on you. If you don't want that at all, too bad, it's coming in. Go mine the "original bitcoin" with your 5 pals and see how valuable it is.

The weak arguments you use against SC can easily be applied to Bitcoin. In both cases you have just a handful of people able to control the source code and the network.  At least in SolidCoins case the trust nodes cannot double spend attack the network (Bitcoins trust nodes can).

Banks cant print their own currency, they have to rely on the central bank to "Give it to them".

Read the myths page :-

In SolidCoin every single person can :-
*Create the currency
*Determine how much total currency is created,
*See the rules by which the currency operates
*See the goals of the developers.

http://solidcoin.info/myths.html

Your centralized arguments are bordering on ridiculous because you don't understand SolidCoin very well or you are purposedly trying to spread FUD.

We're dropping the crappy "Script" engine we inherited from Bitcoin very soon. And that will handle multisig (and everything else) in a much faster and neater fashion. Personally I don't see that much excitement around multisig but some of the other developers think it is a must have.

Paid me? That's hilarious. The people who have trust nodes have invested time and money into SolidCoin (not me personally), given the protection system in place they are the best people to ensure SolidCoin remains protected until we get completely unknown trust nodes.

Your same argument can be applied to "mining nodes". You may say anyone can become a mining node on Bitcoin, I can say anyone can become a trusted node in SolidCoin. It's just a matter of scale. Mining nodes in Bitcoin have more power than nodes that just do transactions! Sounds like centralization there!


10 largest banks? All the trusted nodes do is ensure no double spends occur. Even if you have a trusted node you cannot do a double spend (unlike Bitcoins trusted node system called pools which can).

Your analogies are way off base with trying to represent SolidCoin as federal or centralized. You just don't understand how it works. Just because some people are allowed to mine the "worthless" even blocks on the SolidCoin network doesn't mean you can't obtain that "power" yourself. If you truly believe what you write then you would see the exact thing applies to Bitcoin pools. If you counter with "there is p2pool" it still doesn't change the fact that right now Bitcoin is a "Federal bank" under your narrow definitions.

Everyone can still download the blockchain and be a node, that will forever be the case. The fact is most people do not like the hassle of being a full node and also don't have technical experience to handle it properly.

In regards to "not being decentralized" that is a myth. http://solidcoin.info/myths.html

Yes except I would have to convince the other trust account holders to agree to such a forking change, just like the Bitcoin devs would with mtgox and deepbit. Your mistake is that you think I'm the sole developer and sole trust account holder.

It's also possible for anyone to become a trust node. We don't have a trust node which isn't coming from one of the initial 10 "trust accounts" yet but no one is stopping anyone from becoming one and this is a part of the network security.

Uh I think you mean the hash code right? The genesis block only contains a short sentence about the US recession. Just point them to the hash code in util.cpp as that contains the funny facts about artforz. Or point out the numerous source code comments containing swears!

I think we should be afraid of your secret weapon, because your past "Secret weapons" which were meant to destroy SC all failed. What's this your like 5th attempt at failing again? Didn't you say you had 5 million SolidCoins at one stage (when there was only 2 million available) ? Haha. Time to go dump the imaginary 5 million coins to crash the price eh, it's just doing too well at the moment.

Must really grind your goat to see us doing so well. Every post of yours talking about SolidCoin is like another gold coin in my pocket. Keep it coming!

Yes this is possible. Just like it's possible for Bitcoin developers to force a special block into the network to give them a billion coins. Doesn't mean either will happen. All the Bitcoin developers need to do is ensure Deepbit (trust node 1) , btcguild (trust node2) and mtgox accept the change. Not much difference between our networks from that perspective.


No if you read the source code you will see theres a limit on how much can be transferred, and that's only 5% of a user block, per trust block. So we're talking millions of years at current rates before they would be transferred. They also are unusable in that manner once they drop under 1 million (trust node threshold), so the total amount possible to be given to CPF is 200K * 10 or 2 million, and at current rates that would take thousands of years.

Acting like I can flip a switch and make those coins spendable is a laugh. I could flick a switch and do anything I wanted with the source code, just like the Bitcoin developers could. I have no reason to do so though as it would hurt SolidCoin, just like they likely won't for the same reasons.

The development process is centralized, this is nothing new and even applies to Bitcoin. If you don't trust me or the other SolidCoin developers, stay away from SolidCoin. If you care to educate yourself, read our myths page.

http://solidcoin.info/myths.html

The protocol isn't changing so they are still needed, v3.0 of SolidCoin is still compatible with v2.04.

Since those trust accounts can't be spent (can easily be verified in source code in block.cpp and transactions.cpp) it's not really an issue if they ever become unneeded for protecting the network. They'll just simply sit there , forever unused in that case.

Well it's not my pool, and I don't think conning their miners is a good long term strategy in regards to building a functional pool.

No that's a major benefit and is one reason why SolidCoin is outpacing Bitcoin development. You can choose not to participate in SolidCoin , no one is forcing you, you know how our development model works currently. Don't like it, don't buy or mine SolidCoins.


sp0tter was banned because he was trolling and posting a lot of off topic stuff. He also isn't banned anymore.


The trusted nodes make it easier to implement changes currently, but that won't be the case always. This being said we won't need to keep implementing so many changes once we have a "very good working solution". There are still some things in the pipeline we want to optimize that will require further breaking changes. But this is only so we can scale to high levels of transactions on typical PC hardware.

We likely aren't going to extend SolidCoin outside of being a transaction based carrier, and let people build other stuff on top of that network. This way it's easier for us to concentrate on what needs improving and other people can solve things using that simplicity.

Actually if you check the rewards currently, about 15000 in PPS and 12000 in bonus proportional.  That's nearly 50/50 and especially good considering the continued upward price trend of SolidCoin makes it harder and harder to buy them with the BTC block.

I believe SolidCoin Mafia won another block this morning, so that's 250BTC sold now.

Unless you were using a pseudonym that isn't true. When you came with the "bitcoinexpress" nick, if that was you, you weren't banned. I also thought you had a bot in the channel recording everything? I donno what is true with you but people get banned time to time from IRC and the forum when they are being continually offensive. People also usually get unbanned when they have calmed down.

Yes 3 major changes I guess you could say, and there have been more "minor" ones which were put in other versions. We aren't afraid to introduce protocol breaking changes. When SC1 was first released it was very much like Bitcoin with only some simple things changed around and new interface features.

It's like anything, once you start getting experience with the codebase and also the "economy" you start to realize the failings and work to improve them. That is what we will continue to do. Obviously some people don't like this, but no one is forcing them to use SolidCoin so I don't really get what their problem is. Fear perhaps.

In regards to how a true currency should operate I think mining costs should be somewhat relevant to the final profit, and that it shouldn't differ too greatly so that price can be stable. When talking to businesses about accepting SolidCoins they wanted some features in and this is what we are working towards. Being able to deliver stable prices and prices which have some relevance to the everyday people (ie 20-30 SC to buy some software instead of 351SC today, 290SC tomorrow, etc).

That vote was when SC1 was still running. It's not really applicable anymore since it passed about 90% in my favour at the time. I think many people here don't realize how much support I actually have because they just stay with the "bitcoin folk" who hate SolidCoin. Join the IRC channel or keep an eye on our forum if you want a real indication of support.

Not federal at all, everyone will always be able to run their own node and only connect to that if they want. It's just the new client securely sends transactions by connecting to other nodes to do all the "grunt work". This way lite devices like phones can send funds and grandma doesn't need the whole chain to do simple things.

So far the pool has won 5 blocks (one orphan) and bought 200BTC of SolidCoins from btc-e and slc24.com. It has paid out ~12000 SC in bonuses and about ~15000SC in pay-per-share (PPS). It has been running for 16 days or so.