|
updates: GreenCoin will re-launch as a POS starting at block 800,000 which will most likely be in the daytime (US) on 1/1/2016. If the PoS testing is not successful we will fall back on a fork/update of the existing coin (PoW). I will update further as we work going forward.
Also, keep going after new solar producers please. We could use a sign-up!
|
|
|
|
Where is all the ruby love? Seems to be quiet around here. Traderdaddy still coming tonight?
somebody out there love's RBY -- it's price has gone nuts. I think it's a great coin and I love these PoS conversions. Unless something catastrophic happens (blockchain compromised somehow, etc), PoS is the future of crypto. IMHO!  |
|
|
|
what's the interest rate target again? 2%?
More of a cap, but yes, 2%. -Steve It's only 4.5 hours worth of data but I'm at 1.20% annum right now (non-compounded). Looking pretty good so far! |
|
|
|
|
what's the interest rate target again? 2%?
|
|
|
|
|
The File -> Export Data option does not work for me on 2.0.7
|
|
|
|
One big difference with PoS is there is no coin cap. Coins just mine and stake interest forever.
. . .
Thoughts on the PoS welcome.
- BDC
Well, most typical high stake PoS coins do have a coin cap. Take Hyperstake for example, even though the rate is stated at 750% people earn no where near that rate because of the block reward cap and high difficulty. In fact the annual percent earned is currently averaging around 200% and I would expect this may drop to around 100% in the next six months. Eventually (in years?) block rewards should become a small fraction of the total coin market cap and very difficult to get. This situation in my opinion is good because I feel that the value of the coin in the long run should be supported by buying and selling more than by rewarding people to maintain the block chain. Just because you print up a bunch of coins doesn't “necessarily” mean that you should be rewarded for doing so.  (Are you listening Federal Reserve?) Just my opinion LoL.  thanks Lightsplasher we're looking into hyperstake |
|
|
|
now I'm on block 837589, which matches the explorer but missing ~30k coins (over half). I haven't transacted any coins since 2014.
try re scan wallet? yep. finally got it. thx |
|
|
|
|
now I'm on block 837589, which matches the explorer but missing ~30k coins (over half). I haven't transacted any coins since 2014.
|
|
|
|
One big difference with PoS is there is no coin cap. Coins just mine and stake interest forever. The dynamic also changes so that less coins are mined upfront and more are later (through exponential growth), which is opposite of the PoW "halving" mechanism which serves to mathematically create a total coin cap. For example the existing PoW GRE produces 2000 coins per block and there is a scheduled halving every 5 years. This sets the coin max at 10B total of which half are mined in 5 years. A switch over to PoS, and assuming it occurs around coin total of 2B old GRE, there will be ~100M coins (at 5% interest) being staked for interest annually (I'm not adjusting for any coin reverse split but that affects all calculations the same regardless). So that's only about 275k new coins/d (half for the stakers / half for the Foundation to pay producers). So it is worth noting in the beginning this will reduce coin payouts from the current ~2.8M total per day (1.4/1.4M each) by ~10X. In the long run eventually Producers will indeed get more. So the net effect is early Producers/Miners who have coins to trade in at the swap will have "done better" than those joining the network after the fork, at least in the short term. For what it's worth, if you want some free coins as a Renewable Producer (e.g., solar array owner) for the Love of God sign up now. There is still a lot of coins being given away every day per person since there are not many users. Or cryptopia is still open for business though the volume has been anemic (not many sellers!  !!!) (and/or scrypt-mine at xpool.ca) Thoughts on the PoS welcome. - BDC |
|
|
|
Chris,
Will this fork reduce the value of existing coins or will it be a 1:1 exchange?
Cranky
I'm thinking a 100:1 reverse split but it applies to everyone fairly. This would knock the total coin outstanding down to <20M and help support price perhaps. What do you think? |
|
|
|
running: "version" : "v2.0.7.0",
"protocolversion" : 70004,
"walletversion" : 60001,
already did the peer.dat stuff Issues:- Coin total not accurate: 55.7k reported total versus 54.5k correct amt. If I download the transactions as a CSV and pull out 2M in non-confirmed mined coins (from error code before), the CSV total is correct.
- I'm on block 837,998 and the B.E. linked from solarcoin.org is on 837,145
??  |
|
|
|
|
anybody's window wallet snag for along time on the "done loading" part of the load screen? Been doing this before and this version it still has opened the wallet yet.
|
|
|
|
|
Update 2: We are currently working on a POSV coin launch with 5% interest (50% going to the Foundation) and data storage (OP_RETURN) functionality.
|
|
|
|
GreenCoin updates:Coin tech dev:Hello fellow digital carbon emission offset enthusiasts. I have a few updates. I am working with a dev to fix the coin which has the bugs/issues described in great length in the past. Unfortunately, it has been determined it will not be cheap or easy to get the syncing issues fixed and the dev is looking at solutions (the Foundation stake % is an easy fix however). One such solution is a total coin reboot and we might put PoS back on the table (being a little more "green" than PoW) but this has pros and cons as we've discussed before. If you have any specific recommendations please feel free to comment, as this will definitely be the time to do so. The issues are still being determined so the timeline for the fix and eventual fork (or re-launch) is not known. We also want to get in a bunch of upgrades and data storage and others cool things so we don't have to fork again anytime soon, so this will add to the cost and timeline. I will keep you apprised. Marketing:The Foundation paid for a better movie short that gives a good introductory overview of GreenCoin. The intended audience for the movie are prospective solar array homeowners and the purpose of this short is to get them interested in learning more, so it is not supposed to capture all of the benefits and features of GreenCoin in totality, so just keep that in mind. The next step after viewing the movie would be to hit the website for info (and yes this will be improved for the marketing launch by me which I've been saying for awhile but it'll come to pass), and to learn all of the wonderful benefits of greencoin and then sign-up. The tech dev and marketing effort's primary focus is to sign up new producers at this time. You can preview the movie here.PW: draftIt is fine to share the movie. Please give me feedback. Advertising:We have identified and costed an advertising blitz that gets in front of 200k or so solar array homeowners (emails). It would be disadvantageous to do the blitz before the fork because any and all of the new sign ups would need to be involved with the re-downloads and such, so therefore we would time this component immediately following the fork. Like I said with the tech dev the ultimate solution and timing is not known. However, I would like to think the above is executed inside of two months.
|
|
|
|
This was exactly what I warned about. Big Wallets and few stakers. I wasn't taken seriously. You guys are forgetting about the 98 Billion that are in the Generator Pool, do the math on that. The Generator Pool is included in PoST I am pretty sure that is why the payouts are so big.
Orphan the blocks before they mature. That way the transactions will stay.
if that's the case keep the stake the way it is and get solar signed up? That's the key success anyways. Steve - if we send coins to a new address, and then something else goes wrong and there needs to be a rollback again, are those coins lost? (burned essentially?) |
|
|
|
I'd like everyone to consider taking a few minutes of your time and thinking about what's happened:
I got into Solarcoin a little over 2 years ago when it all started. I chose to invest because I like the idea behind this coin very much, AND because for the price it was a very good deal because at the time there were only a few million in circulation. Up untill yesterday there were a little over 34 Million Solarcoins created. That's almost the same amount as litecoin, so I can really see the potential of this coin if demand starts rising.
HOWEVER since yesterdays fork at block 830000 after the implementation of POST a sh*tload of new coins have been created out of thin air effectively making me and many others very rich at current SLR prices. These interest payments wont be confirmed untill 350 more blocks or so, that means we still have time to revert the change and go back to where we were before POST.
I suggest looking into the interest code as y_virtual said and try to find the error. like he said something like /100 sounds about right.
IF we choose to keep everything as it is i'm afraid solarcoin is doomed. Think about it , the orderbook on bittrex (the only exchange at the time being) is so thin, I could wipe out all the buy orders with my first interest payment and still have more SLR than I started off with. At the time being it looks like over 20 Million new SLR coins have been created.
It's basic supply and demand guys, you don't need to be a rocket scientist to understand that the price would collapse and Solarcoin would have a VERY hard time surviving.
Let me finish off by saying if things stay the way they are I no longer want to be part of this community.
Up untill now I have been very happy with the way Solarcoin was headed but this is simply crazy.
I hope the developers will come to their senses and switch back to mining for the time being
yes and no solarcoiner - there's actually ~98.1B SLRs that will come into existence, and in fact, have already been minted just waiting to be distributed. So 34M, or 10X, or even 100X that is really very little compared to the total. What's shifted, and really only slightly so, is the number that will eventually be awarded for solar energy production versus those that miners/stakes have/will be getting. This was important to consider even prior to the fork because it says a lot about trusting the Foundation: they control, at what is priced right now at ~3/4 of a cent, some $750M in coins that are contracted by the Foundation to be distributed in a very certain way. But unlike crypto-trust, this is people-trust, and a lot of things could happen to SLR if say 10X or 100X price appreciation occurred. Examples include theft or loss of one of the premined MWh payment private keys or internal malfeasance at the foundation. I'm not saying whether it's likely or my personal prediction (I too bought coins in the spring of 2014 because I like the concept), but it is obviously possible. |
|
|
|
|
does solarcoin have an IRC channel?
Steve - If it's only supposed to stake 272k in the first year people are reporting millions of coins staked already (I alone have >150k). So that's not "early guys splitting up a bunch," it's just simply too many?
|
|
|
|
|
linux (Ubuntu 14.04 LTS) wallet install didn't work for me
"./SolarCoin_2.0.1_32bit.run: 1: eval: ./solarcoin-qt not found"
|
|
|
|
Are there any active pools mining this?
the hash rate is up there, so yes, though I don't personally know who they are. |
|
|
|
What's up with this GreenCoinX that just launched? No relation to this project I take it?
no relation |
|
|
|
|
Show Posts
