Hey Guys,
my wallet shows me stake: 0.00 SC
Does that mean, that i am not staking? Most of my coins are older than 12 hours and reserve ist set to 0.
Is everything ok or do i have to change something?
It's most likely because your wallet is locked and not staking. Unlock your wallet and then it'll start staking. |
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SilkCoin. All you need to know
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any news today?  Big announcements will be coming soon. Stay tuned! |
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Introducing the SilkReich Video Series
I'm guessing by now most of you have seen the parody video that I organized ViginitiTrez to do and as I can see most of you thoroughly enjoyed it. It's part of a video series initiative I'm dubbing "SilkReich" which will feature a weekly parody video based on what's happening in the community. We all have been working hard on SilkCoin and sometimes we just need to relax a bit and this video series will help the community do just that. In addition to bringing some well earned comedy and relaxation we hope it will also help the community bond together.
Stay tuned for episode #2 of the SilkReich Video Series!
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A custom-coded wallet is a good start, but SilkCoin will have to show significant innovation before the marketcap can grow in any meaningful way. Rehashing old ideas and presenting them in a different way is not innovation IMO. BTC, LTC, DRK and to a smaller degree coins like VTC and BC are all coins that gained significant marketshare based on the innovation they brought to the table, rather than the way it's presented. SC is also not the first coin to have a custom-coded wallet.
Ty for your opinions, I've opened many wallets in my time and none have ever looked like this, had all the features in one place, working only a short time after launch, good looking site etc etc, anyway you know my opinions above ( i am not a DEV only a helper i do not know the true direction they are planning but i am privy to some forward thinking ideas they are implementing. We are not trying to re-invent the wheel , the wheel is pretty good at what it does, but sometimes it does not hurt to attach the wheel to a better car  +1 |
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5BTC @ 903 sat, buybuybuy
On which exchange was that? I saw it on Bittrex Yep saw it now, I'm guessing it's most likely an early miner, who had a lot of hashpower, looking to cash out. |
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5BTC @ 903 sat, buybuybuy
On which exchange was that? |
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Dang i wonder how many coins he was holding .. what a waste lol It was a parody video, he does it all the time for the BlackCoin folks |
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Don't settle down just yet guys, there's still a ton of stuff we'll be announcing over the next week, the wallet update is just the beggining. Stay tuned |
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The argument has been made by the developer about the dumping during the first phase that it would create a fair distribution. Those same coins are STILL available on exchanges. Their presence on the exchanges creates a fair distribution as was the developers argument when people were dumping during the first proof of work. So if there is already a fair distribution system why do the second proof of work. The only argument left would be for better visibility. If you dump another 25 million coins you would have to get much more visibility out of it during the second proof of work to offset. In the end the price will be less. Why would it be more popular than during the first proof of work? It can be argued that a total of 14 days of Proof of Work is an unfair distribution. There will always be that argument. Another point... Scrypt mining is inherently unfair currently for distribution. You can go to nicehash right now and since Proof of Work will only be for 7 days I can contract hundreds of Giga Hashes of mining for a couple of thousand of dollars. How is this fair to the miner who has a couple of video cards and can muster maybe 2 Mhash? Should they have to buy hash power? The current Proof of Work model favors RICH people not a fair distribution model. Silk coin CURRENTLY has more coins than Bitcoin or Litecoin, the number 1 and 2 coins on coinmarketcap. A second proof of work will be UNFAIR. As mentioned earlier short Proof of Work periods allow for people to contract mine for short periods. If you really wanted to be fair the Proof of Work should be for a longer period. Now that I know the second proof of work is a GO I can just go to my Nicehash.com account and point several bitcoins of hash during the second proof of work so I get a large portion of those coins and subsequently raise the difficulty so that regular miners will get a lot less coin. How is that fair? In that case they might as well go and buy them from an exchange, which is what they can do today. The value of this coin has NOTHING to do with the distribution. No 14 day distribution will be fair. It has to do with wallet innovation and a working PoS. Think about that. Judge Crypto www.judgecrypto.com1) Scrypt mining is just as fair for distribution as other algorithms. Anyone can go over to betarigs.com and rent rigs with over 100MHs for X/11, SHA-3 Keccak, Scrypt-Jane and Scrypt-N. 2) The price people are willing to pay to buy SilkCoin is directly proportional to the total supply of SilkCoin. To put this into perspective let's take 2 scenarios and say that SilkCoin has a constant market cap of 3000 BTC in both scenarios. In scenario one we have 30 Million SC, since there are fewer coins people are willing to pay more for them and would pay 10K satoshis for 1 SilkCoin. In scenario two we have 60 Million SC in existence, since there are more coins people are going to pay less for 1 SilkCoin, this time around they pay 5K satoshis for 1 SC. Now lets say in scenario 1 you invested 5 BTC into SilkCoin at 10K satoshis per/SC that equates to 500 000 SC (out of 30 Million Coins) which is 0.016% of the total supple of SilkCoin Now lets say in scenario 2 you invested 5 BTC into SilkCoin at 5K satoshis per/SC that equates to 1 000 000 SC (out of 60 Million Coins) which is 0.016% of the total supple of SilkCoin 3) I'm not sure if you mentioned this earlier or if it was someone else, but what was said was a comparison of how once the supply of DarkCoin was cut by 75% the hype around the coin increased and subsequently the price increased. As I mentioned earlier the immediate effect of decreasing the supply will lead to a price increase, but not a direct increase in market cap. The market there was just adjusting to the new supply. 4) People invest money into innovation, people who want to invest in SilkCoin will be investing in our innovation, not because we have a very low supply of coins. If Bitcoin had 1 Billion coins, I guarantee you it would be just as successful as it is now. 5) If we hold a vote for the fate of the 2nd Phase, it will be extremely biased, as naturally all SilkCoin early-adopters, will want their coins to be "rarer". 6) The 2nd PoW phase will be critical to the success of SilkCoin, currently there are many lurkers in our thread waiting for the 2nd PoW to pounce it's glaringly obvious when you look at the thread's view count. The 2nd PoW phase will bring a lot of visibility to SilkCoin and will no doubt push us up higher in the long term, even if the price falls a bit while the market adjusts to the new supply. You state your points very reasonably and I will respond to each point. 1) The current state of Scrypt mining does not allow for fair distributions in short periods. It punishes stand alone miners because they are not competitive in short spurts but rather in long ones. To put it bluntly short periods of mining do not distribute coins to the average miner. It either forces people who want a decent amount of coins to either buy them from an exchange or pay for dedicated hash rate. Short mining periods are now associated with Ninja dev mining in many coins. If there has to be a second PoW, to be truly fair the second mining period should be extended with constant block sizes. Then it would not be cost effective to throw massive purchased hash rate at the coin. I am against the second mining phase, but if there has to be one, it should be for a much longer period of time. 2) If there was adequte marketing during the PoS stage then the second PoW stage would not affect the coin price. As it stands the coin was launched without a clear marketing strategy besides a "Build it and they will come" strategy. The technical development on this coin is sound, but the marketing and thread maintenance is terrible. There are very little updates to the thread. Crypo moves very fast. 24 hours is an eternity. This coin needs more updates / discussions / vision in this thread. 3) In the end I agree, the coin will adjust. There is a correlation between the more successful coins and the amount of coins they generate. Smaller coin push the coin price up even if the coinmarketcap is the same. Higher priced coins are doing better overall. DOGECOIN is dying at 100 sat. Mintcoin is Dead. ECC Coin is DEAD. 4) I agree with you. However, this thread has not marketed the innovation this dev team has brought and is planning very well. Communications are lacking. 5) I agree with you. A vote would be not be effective. 6) Completely disagree with you. Why is a second PoW stage critical for success? The marketing and community management of the coin are what is important. Why is mintpal integration not more heavily pushed? Why was not part of the premine allocated to getting on Mintpal? Why was the reddit so late in getting up? This coin has a technical advantage over many other coins and it is simply being wasted by a lack of marketing. I do not agree with throwing more coins out there as an effective marketing campaign. My point is the community manager needs to get in gear and get this thing going! What ever the devs decide I will stand by them. I think they are awesome. I hope the marketing gets in gear because this coin can be great. Judge Crypto www.judgecrypto.comWith regards to the premine, a sell off to create enough BTC with the little amount of buy pressure that there currently is would be detrimental to the price. Those who are not aware of the fact that the premine is being used to buy MintPal votes would mistake this as devs dumping coins and a whole lot of negative publicity would follow. Yes I wholly agree with you with the marketing isn't quite up to standard yet, which is why I am working around the clock with most of the other members of the SilkCoin team behind the scenes to help market SilkCoin to the best we can. There is a ton of stuff we've been working on marketing and community wise that we have itching to tell you, but we haven't completed them yet and aren't fully ready to show it to the public quite as yet. I guarantee you by this time next week we would've made some major strides marketing wise. Stay tuned |
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The argument has been made by the developer about the dumping during the first phase that it would create a fair distribution. Those same coins are STILL available on exchanges. Their presence on the exchanges creates a fair distribution as was the developers argument when people were dumping during the first proof of work. So if there is already a fair distribution system why do the second proof of work. The only argument left would be for better visibility. If you dump another 25 million coins you would have to get much more visibility out of it during the second proof of work to offset. In the end the price will be less. Why would it be more popular than during the first proof of work? It can be argued that a total of 14 days of Proof of Work is an unfair distribution. There will always be that argument. Another point... Scrypt mining is inherently unfair currently for distribution. You can go to nicehash right now and since Proof of Work will only be for 7 days I can contract hundreds of Giga Hashes of mining for a couple of thousand of dollars. How is this fair to the miner who has a couple of video cards and can muster maybe 2 Mhash? Should they have to buy hash power? The current Proof of Work model favors RICH people not a fair distribution model. Silk coin CURRENTLY has more coins than Bitcoin or Litecoin, the number 1 and 2 coins on coinmarketcap. A second proof of work will be UNFAIR. As mentioned earlier short Proof of Work periods allow for people to contract mine for short periods. If you really wanted to be fair the Proof of Work should be for a longer period. Now that I know the second proof of work is a GO I can just go to my Nicehash.com account and point several bitcoins of hash during the second proof of work so I get a large portion of those coins and subsequently raise the difficulty so that regular miners will get a lot less coin. How is that fair? In that case they might as well go and buy them from an exchange, which is what they can do today. The value of this coin has NOTHING to do with the distribution. No 14 day distribution will be fair. It has to do with wallet innovation and a working PoS. Think about that. Judge Crypto www.judgecrypto.com1) Scrypt mining is just as fair for distribution as other algorithms. Anyone can go over to betarigs.com and rent rigs with over 100MHs for X/11, SHA-3 Keccak, Scrypt-Jane and Scrypt-N. 2) The price people are willing to pay to buy SilkCoin is directly proportional to the total supply of SilkCoin. To put this into perspective let's take 2 scenarios and say that SilkCoin has a constant market cap of 3000 BTC in both scenarios. In scenario one we have 30 Million SC, since there are fewer coins people are willing to pay more for them and would pay 10K satoshis for 1 SilkCoin. In scenario two we have 60 Million SC in existence, since there are more coins people are going to pay less for 1 SilkCoin, this time around they pay 5K satoshis for 1 SC. Now lets say in scenario 1 you invested 5 BTC into SilkCoin at 10K satoshis per/SC that equates to 500 000 SC (out of 30 Million Coins) which is 0.016% of the total supple of SilkCoin Now lets say in scenario 2 you invested 5 BTC into SilkCoin at 5K satoshis per/SC that equates to 1 000 000 SC (out of 60 Million Coins) which is 0.016% of the total supple of SilkCoin 3) I'm not sure if you mentioned this earlier or if it was someone else, but what was said was a comparison of how once the supply of DarkCoin was cut by 75% the hype around the coin increased and subsequently the price increased. As I mentioned earlier the immediate effect of decreasing the supply will lead to a price increase, but not a direct increase in market cap. The market there was just adjusting to the new supply. 4) People invest money into innovation, people who want to invest in SilkCoin will be investing in our innovation, not because we have a very low supply of coins. If Bitcoin had 1 Billion coins, I guarantee you it would be just as successful as it is now. 5) If we hold a vote for the fate of the 2nd Phase, it will be extremely biased, as naturally all SilkCoin early-adopters, will want their coins to be "rarer". 6) The 2nd PoW phase will be critical to the success of SilkCoin, currently there are many lurkers in our thread waiting for the 2nd PoW to pounce it's glaringly obvious when you look at the thread's view count. The 2nd PoW phase will bring a lot of visibility to SilkCoin and will no doubt push us up higher in the long term, even if the price falls a bit while the market adjusts to the new supply. |
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It's offsite bud |
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1. no 2nd round PoW
2. focus on built-in features: decentrilized exchanger inside wallet is revolutionary
3. Dark-send feature
4. multipool
vote for above suggestions. pals
+1 from myself!
Absolutely agree on all points! Also, anonymity is huge right now, so I feel darksend/zerocoin etc integration should definitely be a priority. 1. We really want to avoid a hard-fork, and this second phase WILL bring more popularity to Silkcoin and act as a second launch, this also one of the main aspect of Silkcoin : reach more people with 2 "launches", great volume and diff during the POW phase showing the interest over SC and bringing more people IN. We're still thinking about what should be done... But it's pretty obvious most of the early adopters won't want the second phase, so it's hard to get an objective vision here. 2. Yes we're always working on these features while doing small upgrades of the wallet, most of the decentralized silkcoin world will come in about 2-3 months, in the meantime we'll integrate a centralized built-in exchanger and some other neat features. We'll release a screenshot of the beginnings of the eco-system at the same time as we release the next version, so normally very soon (less than 24 hours). But keep in mind this is still in early stages, more infos coming soon... 3. Yes the anon feature WILL come in time that's for sure. For now it's on hold since we're waiting to see how darksend goes, it would not be very wise to integrate it untested if it's going to be tested over the next few weeks  . 4. Multipool, once we're in the last phase it's true even if other multipools will support us, having a dedicated pool is nice so i'm pretty sure this will happen. I have discussed this, and I fully agree with the above post. A 2nd phase of PoW would be crucial for distribution and would ensure more popularity in SilkCoin. |
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SilkCoin has been added to the voting list for HitBTC : https://hitbtc.com/voteEveryone sign up for a HitBTC account and then vote for SilkCoin to get 10x the amount of votes
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Hey everyone, Last news from the devs :We'll be be releasing the next version of silkcoin tomorrow, we fixed a few glitches, improved market tab in view of the built-in exchanger and integrated a new tab with a new function the public asked us about... But I tell no more, you'll see that tommorow! We will also show you the first screenshot of the beginning of the "eco-system" we talked about even if this is not released until few months it's starting to take life. |
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Please announce daily progression  yeal, we needs know the progress for the coin, and we also need good news about the coin.. Stay tuned, we have some exciting stuff to show you with regards to marketing and PR Are you one of the DEV team members? I'm not a developer, but I am a part of the official SilkCoin development team. I'm working more on designing, marketing, PR, and branding of SilkCoin than anything else Your design for BC is impressive, I like it! It's great to know you are responsible for Silkcoin's design and marketing, can't wait to see your work  Thanks man, stay on the lookout for the next few days, some exciting things are going to happen Could you design some nice looking signature like primedice so people can copy-paste to advertise SC? I could do that if you guys wouldn't mind. That would be great, we'd love to see what you come up with |
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Please announce daily progression yeal, we needs know the progress for the coin, and we also need good news about the coin.. Stay tuned, we have some exciting stuff to show you with regards to marketing and PR Are you one of the DEV team members? I'm not a developer, but I am a part of the official SilkCoin development team. I'm working more on designing, marketing, PR, and branding of SilkCoin than anything else Your design for BC is impressive, I like it! It's great to know you are responsible for Silkcoin's design and marketing, can't wait to see your work Thanks man, stay on the lookout for the next few days, some exciting things are going to happen |
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Please announce daily progression yeal, we needs know the progress for the coin, and we also need good news about the coin.. Stay tuned, we have some exciting stuff to show you with regards to marketing and PR Are you one of the DEV team members? I'm not a developer, but I am a part of the official SilkCoin development team. I'm working more on designing, marketing, PR, and branding of SilkCoin than anything else |
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