Slimcoin | First Proof of Burn currency | Decentralized Web

[dzarmush]

We should provide them or make trades with around, 3000USD of liqudity in SLM.

That's around 200K SLM. I don't get it though. What does it mean 200K of liquidity? Set sell orders with combined amount of 200K or create trading volume of 200K a day?

[muf18]

Volume to animate.
They want to make like 1000-2000USD vol per day with it.
I have a question - do we have some solution for scalability issue? We know that for now it's not an issue, but we must seek into the future where I see Slim, at least 100x bigger with web2web fully functional and smart contracts implemented, where it will be crucial to have fast network.

[d5000]

Volume to animate. They want to make like 1000-2000USD vol per day with it.

Would we (the users) have to "animate" that, e.g. with trading bots? That would be difficult, for now, unless a real Slimcoin whale does that. If it means to provide buy and sell orders with a not-too-large spread, it could be possible.

I have a question - do we have some solution for scalability issue? We know that for now it's not an issue, but we must seek into the future where I see Slim, at least 100x bigger with web2web fully functional and smart contracts implemented, where it will be crucial to have fast network.

As Slimcoin is based on the Bitcoin code, for better scalability the easiest solution is to follow the Bitcoin path. That would mean to implement Segwit or another malleability fix in the future to be able to support lightning networks. Also sidechains could be supported, although it's possible that it's more complicated than with Bitcoin because of the three block generation method (how do you do "merged mining" with PoS?).

I would be against the "Bitcoin Cash" way (to allow unlimited size blocks) because Slimcoin, with its asic-unfriendly algorithm (and also the "slim" in the name), is designed to run on home computers and possibly even smartphones and with exclusively on-chain scaling we would lose that property as only big server owners could run full nodes.

A scalability solution I like is extension blocks, but as far as I know it has not been tested on any real cryptocurrency until to date.

[dzarmush]

It would be great if someone would make summed up info about Slim. Why it is awesome and worth to invest and contribute. One opinion I heard: "it's a 2014 coin trying to compete in 2017". We need a short and impressive answer to such things.

[d5000]

It would be great if someone would make summed up info about Slim. Why it is awesome and worth to invest and contribute. One opinion I heard: "it's a 2014 coin trying to compete in 2017". We need a short and impressive answer to such things.

Well, there is actually a 2009 coin that still rulez da cryptocurrency world in 2017 (and probably will in 2018, too, if they don't **** it up)

Some of the points I find important I have written up in the Advantages section of slimco.in. But you should already know it because you translated it

The problem is that most of Slimcoin's advantages are a bit more "intellectually challenging" (e.g. the point about the advantage of PoB to encourage long term investing, or the more balanced power structure than in BTC or pure PoS currencies). I think these are, however, important points.

However, you're right that a bit more "ELI5" is needed. We have a wiki here: https://github.com/slimcoin-project/Slimcoin/wiki. We could create an "Advantages ELI5" page there, where everybody can try to "translate" the Advantages section into simpler and shorter language or show practical examples (e.g. how the more balanced power structure would influence discussions like Bitcoin's "scalability debate", or what long-term investment means for stability and long term survival).

[dzarmush]

It would be great if someone would make summed up info about Slim. Why it is awesome and worth to invest and contribute. One opinion I heard: "it's a 2014 coin trying to compete in 2017". We need a short and impressive answer to such things.

Well, there is actually a 2009 coin that still rulez da cryptocurrency world in 2017 (and probably will in 2018, too, if they don't **** it up)

Some of the points I find important I have written up in the Advantages section of slimco.in. But you should already know it because you translated it

The problem is that most of Slimcoin's advantages are a bit more "intellectually challenging" (e.g. the point about the advantage of PoB to encourage long term investing, or the more balanced power structure than in BTC or pure PoS currencies). I think these are, however, important points.

However, you're right that a bit more "ELI5" is needed. We have a wiki here: https://github.com/slimcoin-project/Slimcoin/wiki. We could create an "Advantages ELI5" page there, where everybody can try to "translate" the Advantages section into simpler and shorter language or show practical examples (e.g. how the more balanced power structure would influence discussions like Bitcoin's "scalability debate", or what long-term investment means for stability and long term survival).

Some projects have simple ideas easy to understand for everybody. Like Part devs is working on decentralized market inside the client, with anonymous transactions. Decent distributes content. Iota targets IoT.

[muf18]

Someone is dumping hard, SLMs, but I think it's a good thing, to buy-in cheap.
If I had spare BTC, I would load up, waiting for the drop in BTC, too long, when was sub-2000$, I was on holiday lol , I guess I missed one-time offer.

@dzarmush - you can have your 1 BTC offer now buy on nova.
Spread is also neat - it's very narrow now, like in mature market it should be.

[dzarmush]

Someone is dumping hard, SLMs, but I think it's a good thing, to buy-in cheap.
If I had spare BTC, I would load up, waiting for the drop in BTC, too long, when was sub-2000$, I was on holiday lol , I guess I missed one-time offer.

@dzarmush - you can have your 1 BTC offer now buy on nova.
Spread is also neat - it's very narrow now, like in mature market it should be.

I set buy orders on Nova. I think he'll get impatient and dump. It's probably free coins from staking anyway, so anything over 0 btc is profit for him. I think it's someone who staked tens of thousands coins after a long delay in staking.

[d5000]

Some projects have simple ideas easy to understand for everybody. Like Part devs is working on decentralized market inside the client, with anonymous transactions. Decent distributes content. Iota targets IoT.

Most of the features many cryptocurrencies present as their achievements are features that are relatively simple to implement, and because most cryptos are open source, they can even be ported from other cryptocurrencies.

With Slimcoin, for example, decentralized content distribution is also possible. I've already (almost completely) ported the web2web HTML bootstrap page, however, to work it needs a public block explorer with API. It works with Graham's Fuseki installation but it's not ready still to publish the URL and sometimes gets stuck. So in short, it's still not ready, but we're getting close.

Anonymous transactions are already harder, but probably _could_ be ported (e.g. from Zerocoin), and Iot-capability is something almost impossible for cryptocurrencies taking into account present time's low-power IOT hardware - it's still not proven if Iota really works as expected (they still need a centralized "Coordinator").

What I wanted to say is that Slimcoin's advantages and "unique selling point" are on another level - the "consensus layer". This is harder to explain and understand, but also much more difficult to be "ported" by others. But there are some simple points that can be made:

- it is harder to attack (compared to a currency with similar market cap that relies only on PoW or PoS)
- it is harder to "kill it completely" (an attacker could profit from short selling trying to kill the network, but on Slimcoin, it's very likely that there will still be "burners" that will keep it alive)

[dzarmush]

Some projects have simple ideas easy to understand for everybody. Like Part devs is working on decentralized market inside the client, with anonymous transactions. Decent distributes content. Iota targets IoT.

With Slimcoin, for example, decentralized content distribution is also possible. I've already (almost completely) ported the web2web HTML bootstrap page

I saw it mentioned quite a few times but I never understood it, and never asked )
What is web2web?

In general I'd say it feels like you're working on some cool features but don't bother to promote it in any way. It's mentioned in OP with link on GitHub, but it'll be better to have some nice looking infographics explaining why it's great. The same with PoB and other Slim advantages.

[muf18]

IOTA I thought was a interesting project, but more and more I read it's for now completly unusable and la mierda for a lot of reasons - but main - how it can be decentralized, when they rely on central point of failure, which wont work without it, their transactions get stuck in DAG and main reason - it's not completly open-source - you cant fork it, to have working concept of IOTA. It's typical enterprise/commercial/corporational product which was having ICO really early in development. I cant understand it's in top 10, with these major flaws.

I thought Xtrabytes is quite unique project, and it is, but their 'team' and shillers have got me annoyed a bit, lack of whitepaper, after several months of development, and very high fees for transaction, which are for 'dev fund', are also discouraging, but at least for now it's still small project. But 50-60x bigger than ours, which I dont completly understand - both of these projects (Slim, XBY) are innovative, modern in concept, we have whitepaper, have working product, we dont have shillers team, and so active community, also true. But reasearching for XBY I have stuck on this thread, and this project was for me much more interesting, real, and without bunch of idiots, ruining whole thing with posts like 'to the moon' or just tasteless comments, when you were asking and trying to know what's about.


Still I think these 2 projects, will compete in future - maybe with different purpose and different goals, but from what I've seen, it's 2 most promising projects here, with restricted criteria in mind:
- No ICO
- No Premine
- Fair launch
- community based
When these are true and people are well organising within project, I think such altcoin can succeed big way in future.

Web2web - as far as I know - allows you to publish webpages saved in the blockchain, and see them with proper block explorer, which can read content of such webpage saved into the block.

Edit: XBY is still a scam product with no real product delivered yet, so I'll note it here.

[d5000]

What is web2web?

I'm preparing a document about that. In short: It allows "decentrally hosted" and uncensorable websites. Publishers save a torrent hash of their content in the blockchain and upload the content as a Torrent. The readers must load a "bootstrap page" in their browser where they enter the Slimcoin address of the user who saved the content and it will search automatically for the torrent hash and display the content.

The cool things about it - and its advantages to similar approaches like Maidsafe, Steemit et al:

- You don't need additional software to read the pages, only the bootstrap page and a standard browser, not even a browser extension (to read, you also don't need a Slimcoin client). The bootstrap page can be distributed on thousands of websites, via torrent, email etc..
- It doesn't bloat the blockchain (like in Steemit, for example), because only hashes are stored on the blockchain, not the complete content - the content lives on the Torrent network.
- Content can include any type (text, images, audio, video).
- The blockchain is your CMS, so if you update the page, it gets recorded in the blockchain, and all readers will get your updated page.
- Content cannot be censored or manipulated, as long as there is even a single Torrent user sharing it.

It is really a simple technology. It requires practically no coding effort and that's also why I'm not really "promoting" it until it's ready. The idea to use it with Slimcoin comes from Graham. I think he wanted to integrate a web2web client in the Slimcoin client that could show the contents directly, but I don't know how far he progressed with this idea.

It has also disadvantages, so no comments, forums and other user interaction is possible (it is probably possible but requires additional implementation steps). But it would be a great tool, for example, for people living in authoritarian countries to publish political blogs, or more general for anonymous blogs/pages where you don't want to be identified.

I'm not good on doing infographics (or graphics/design at all). If someone wants to help me with one about Proof of Burn, or about Web2Web, for example, I could make a very basic version (as a SVG file) and those that want can "embellish" it.

PS: Forgot to link to the original Web2Web implementation - here it is. Originally it works with Bitcoin.

[dzarmush]

I'm not good on doing infographics (or graphics/design at all). If someone wants to help me with one about Proof of Burn, or about Web2Web, for example, I could make a very basic version (as a SVG file) and those that want can "embellish" it.

I'd give it a try. I'd only need a sketch from you. It could be made with a pan and piece of paper.

[d5000]

we dont have shillers team, and so active community, also true. But reasearching for XBY I have stuck on this thread, and this project was for me much more interesting, real, and without bunch of idiots, ruining whole thing with posts like 'to the moon' or just tasteless comments, when you were asking and trying to know what's about.

That's how the "altcoin circus" works, unfortunately. More "shills", more profit by pump and dump. I think Slimcoin should not even try to compete with all these sh*tcoins.

I would be more interested in academic research on Slimcoin (e.g. on game theory of Proof of Burn, or on the combination of PoB, PoS and PoW and their implication for security, stability/volatility etc.), but myself I have only basic game theory knowledge. If we could get some "hard proof" (peer-reviewed studies by computer scientists, economists etc.) about the advantages for Slim, it would go to da moon (potential top 10 coin - not even a coin like NEM is peer-reviewed).

I'd give it a try. I'd only need a sketch from you. It could be made with a pan and piece of paper.

Thanks for the offer! I'll think about a concept that can easily be understood and then contact you. But have patience, this week I haven't so much time, maybe next week.

[NoxX]

I tried to understand from the OP, but I am still not entirely sure how Slimcoin works.

I need coins to burn coins to (maybe) get more coins, correct? How do I get my initial coins then? And is this essentially like gambling, where I might get more out than I put in, or I might get less if I'm unlucky?

Thanks!

[Sorai]

What is web2web?

I'm preparing a document about that. In short: It allows "decentrally hosted" and uncensorable websites. Publishers save a torrent hash of their content in the blockchain and upload the content as a Torrent. The readers must load a "bootstrap page" in their browser where they enter the Slimcoin address of the user who saved the content and it will search automatically for the torrent hash and display the content.

The cool things about it - and its advantages to similar approaches like Maidsafe, Steemit et al...

This sounds cool. Another similar such project is Shift. 

[muf18]

we dont have shillers team, and so active community, also true. But reasearching for XBY I have stuck on this thread, and this project was for me much more interesting, real, and without bunch of idiots, ruining whole thing with posts like 'to the moon' or just tasteless comments, when you were asking and trying to know what's about.

That's how the "altcoin circus" works, unfortunately. More "shills", more profit by pump and dump. I think Slimcoin should not even try to compete with all these sh*tcoins.

I would be more interested in academic research on Slimcoin (e.g. on game theory of Proof of Burn, or on the combination of PoB, PoS and PoW and their implication for security, stability/volatility etc.), but myself I have only basic game theory knowledge. If we could get some "hard proof" (peer-reviewed studies by computer scientists, economists etc.) about the advantages for Slim, it would go to da moon (potential top 10 coin - not even a coin like NEM is peer-reviewed).

I'd give it a try. I'd only need a sketch from you. It could be made with a pan and piece of paper.

Thanks for the offer! I'll think about a concept that can easily be understood and then contact you. But have patience, this week I haven't so much time, maybe next week.

Yes I know. We better not have shillers team - they are annoying as f.
Academic research - I hope my PhD, will see crypto now with more pleasing eye, because when I asked him at the end of semester, he said that there is trading/investement classes, and we don't need crypto additional classes. Will see if this summer change his mind, with crypto almost everywhere now.

And why I don't like ICO: https://twitter.com/TioTourGuides

Buy for 0.077USD, sell for 0.77USD, like it was a guaranteed price, will be dumped to hell this ICO, but why people, are still buying these worthless tokens?
10x profit from nowhere, lol, I just can't believe it.

Shift has something different, but idea is similar. Probably, they have more appealing graphics, of everything, than we.

[gjhiggins]

I tried to understand from the OP, but I am still not entirely sure how Slimcoin works.

Not an unusual experience, the ANN is gradually being improved.

I need coins to burn coins to (maybe) get more coins, correct?

No “maybe” about it. The algorithm that controls the coin emissions ensures you get more coins back than you burn.

How do I get my initial coins then?

By mining: use the console to issue the the command setgenerate true 1. Or purchase some from novaexchange.com

Previous posts discuss how much to expect, how frequently and over what time period,

And is this essentially like gambling, where I might get more out than I put in, or I might get less if I'm unlucky?

Not like gambling at all. There's a calculated emission rate, it's split between mint-by-proof-of-burn, mint-by-proof-of-stake and mint-by-proof-of-work rewards, the balance between them shifts but in the end, you'll get your calculated share.

Cheers

Graham

[NoxX]

I tried to understand from the OP, but I am still not entirely sure how Slimcoin works.

Not an unusual experience, the ANN is gradually being improved.

I need coins to burn coins to (maybe) get more coins, correct?

No “maybe” about it. The algorithm that controls the coin emissions ensures you get more coins back than you burn.

How do I get my initial coins then?

By mining: use the console to issue the the command setgenerate true 1. Or purchase some from novaexchange.com

Previous posts discuss how much to expect, how frequently and over what time period,

And is this essentially like gambling, where I might get more out than I put in, or I might get less if I'm unlucky?

Not like gambling at all. There's a calculated emission rate, it's split between mint-by-proof-of-burn, mint-by-proof-of-stake and mint-by-proof-of-work rewards, the balance between them shifts but in the end, you'll get your calculated share.

Cheers

Graham

Thank you for the answers, very helpful!

I assume mining through the wallet is CPU only? The OP says "Another highlight is the DCrypt algorithm, which is one of the most difficult algorithms to implement in an ASIC and suitable for CPU and GPU mining", is there GPU mining yet?

[muf18]

Updated version of Slimcoin Client AIO Project for Windows (X86/X64) - tested everything works ok.
40mb more, because of bigger blockchain.

https://mega.nz/#!9zRhRC7K!xygP2QNOARCPdVuSutljTdAYZkzNvBJjkB6nvU_LPxU

Google drive:

https://drive.google.com/open?id=0Bz8rq8XhBF7Ad1Z4b1RlMFN0Q2c