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Author Topic: Slimcoin | First Proof of Burn currency | New v0.5.1 binaries  (Read 87894 times)
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May 09, 2017, 07:55:03 AM
 #561

Oh, I thought I had told you that this account was created by me ("d5000"). I chose to create this account mainly to be able to share it with another interested person to administrate the OP of the thread, for example if I should some day leave this forum. The downside of that decision is obviously that I'm now a "newbie" again and cannot provide nice colour/image gimmicks to the OP.

The code compiles, the tests pass, the app syncs and handles the protocol. Those are the only verifiable criteria in this specification-by-implementation context.

OK, thanks. I would then say let's test the code some weeks more and then we could describe it in the OP, at Reddit etc. as a "stable" release and the recommended download for all those wanting to use Slimcoin. Do you agree?

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I have been reporting informally as I made progress. I will create a Changelist file, (based on the commit record).
That would be awesome.

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I doubt that C++ #ifs will work in XML so you cannot use #if QT_VERSION >= 0x050200 to isolate the code, so you need to delete lines 130-132 of src/qt/forms/inscriptiondialog.ui.

Thanks. Unfortunately I get another error ('‘class QDateTime’ no tiene un miembro llamado ‘setSecsSinceEpoch’"). Maybe it's simply better to download a more recent qt version.

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I have to say I'm underwhelmed by the chosen analogy.

You mean the card game thing of PeerAssets? It's a bit strange, yes, I think the creator chose it to be over-simple to understand. But if it works well then it's simply a solution that can be implemented pretty fast. There may be better ways, for sure.

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I'm intending to pick up on a nice little paper written by fellow Labbie, Jeremy Carroll (yeah, go on, accuse me of cronyism):

Thanks, I will take a look at it, I hope it's understandable for a non-programmer. I know a little bit about RDF/Semantic Web basics and am interested in the technology, but am by no means an expert.

Regards
Slimcoin Community aka d5000

Operated currently by user d5000.
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d5000
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May 15, 2017, 06:59:31 AM
 #562

I started a very, very basic project website here: https://slimcoin-project.github.io.

Theme & design are still more of a placeholder than anything else. I'm completely new to Jekyll (the Github Pages default page generator) so while I familiarize we'll have something more beautiful Wink

Suggestions are always welcome.

Edit: My short-term plans are to add the following:

- a Proof of Burn minting guide
- a mining guide for DCrypt
- an installation guide for Windows, Linux & Mac OS.

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PeterTheGrape
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May 17, 2017, 12:37:04 AM
 #563

I started a very, very basic project website here: https://slimcoin-project.github.io.

Theme & design are still more of a placeholder than anything else. I'm completely new to Jekyll (the Github Pages default page generator) so while I familiarize we'll have something more beautiful Wink

Suggestions are always welcome.

Edit: My short-term plans are to add the following:

- a Proof of Burn minting guide
- a mining guide for DCrypt
- an installation guide for Windows, Linux & Mac OS.

Strongest suggestion would be to be the one cryptocurrency that does not overtechnicalize everything. Make one version of your guides for the simplest people.

The coin has an old cmc page but Nova is not listed https://coinmarketcap.com/currencies/slimcoin/#markets

The coin is cheap https://novaexchange.com/market/BTC_SLM/

Supply about 14m http://www.slimcoin.club/#blkexp

Market cap at 50 sats = 7 bitcoin.

The cmc page is not visible on any searches or rankings because there is no exchange since 2015. The BTER page is still live but no trading.
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May 17, 2017, 01:25:56 PM
 #564

Thanks for the suggestions. Yes, I will try to write all guides the most "Eli5" possible, but I don't want the focus to shift to "cheap coin, invest and pump it." Slimcoin should be interesting for long-term investors and people searching for something really new.

I'm already thinking about an Eli5 for Proof of Burn, but I would like to avoid associations to gambling. I do like Ian Stewart's original PoB analogy to PoW mining ("burnt coins are mining rigs") .

I have already sent a request to Coinmarketcap to accept the Novaexchange market for Slimcoin. Let's see if they add it - it should bring some attention, hopefully also by technically interested people. Novaexchange, as an exchange, was already added there, so there should not be any difficulty for it.

I will also try to post a little bit more regularly to the Slimcoin subreddit. The main goal for now is to get more testers on board for Graham's awesome 0.5 wallet.

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PeterTheGrape
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May 17, 2017, 04:48:23 PM
 #565

Definitely no gambling association.

This is an old coin with some kind of technical novelty that appeals to a smarter cut of people who have more knowledge of crypto. I don't understand the technical stuff but I do see the footprint of a better coin.

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May 18, 2017, 07:42:53 PM
 #566

If I have a wallet on a machine, I mined a bit, and I also burned a bit, but then I import the private key of that wallet in another wallet and shut down the machine, the PoB started on the first machine will still work?

Yes.

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I mean, the expected coins will come to the new wallet or never?

They will come to whatever wallet is online and contains the address which made the burn tx that “won” the burn hash for which the coins are being received.

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Is there a link between a specific wallet and the PoB algorithm or it's linked only to the address that burns coins?

Only the address. Wallets are as ephemeral as mayflies, only the blockchain endures. Every unspent TXO is associated with an address. To reassign the unspent TXO to a different address (i.e. spend the coins), the appropriate privkey for the TXO's currently-associated address needs to be provided to the scripting engine so that the necessary matching hash can be computed and checked.

Mint-by-proof-of-burn coins go to the address of the “winning” burn tx:

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When one burns coins, that transaction is used to calculate burn hashes. There is also a multiplier that is applied to the raw burn hash to calculate the final burn hash. The greater the amount of coins burnt by a user, the smaller the multiplier will be and the smaller the burn hashes will be. The smaller the burn hash is, the more likely the hash will meet the difficulty target (be accepted by the network as valid). Over time, the multiplier of a single burn transaction increases slowly, lowering the effectiveness of those burn hashes, acting like "decaying burnt coins". Per transaction, only 1 burn hash is needed to be calculated per ~90 seconds. The reason low power can mine this is because basically almost any machine can hash a few SHA256 hashes in ~90 seconds.

Over the total period of their expiry, burned coins will generally figure in the PoB calculations for about a year.

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The wallet must be up all the time in order to receive the coins?

Yes. The client must be contributing hash to the network in order to earn rewards. The greater the number of coins staked, the greater the amount of hash required as contribution. The fewer the contributing clients, the more work the remaining contributing clients have to do in order to provide the requisite amount of total hash power designed to maintain the integrity of the public ledger.

And *that’s* why my client is permanently nailed at 100% of its allocated thread, it's completely consumed with calculating the overall staking weight - that’s how reservebalance works, by cutting down the search space and thereby reducing the computational demand. My wallet reports over 3500 transactions in total, no wonder the GUI client is unacceptably sluggish in responding to user input. The vast majority of those txs were received by one address from which a few significant, unexpired burn txs have been made.

Creating a new wallet and importing the privkey for that address also imports the 3000+ tx history and - without a reservebalance that basically equates to “staking=no” - again the client process immediately consumes 100% of its allocated thread as it disappears into endlessly calculating the new stake weight, in order to earn more coins which arrive as transactions which then must be taken into account in the calculation of the new stake weight, in order to earn more coins ...

As the number of nodes decreases, the [number of coins received by|hash load on] the remaining clients increases.

It’s beginning to look like the network was configured around an assumption that people would overwhelmingly prefer burn hashing, not stake hashing. My GUI client is already consuming 33% of its allocated thread and there are only 250 tx in total and a balance of 1400 SLM. I set reservebalance to 0 in order to check what kind of tx rate I’d see and that turns out to be at least a dozen tx a day (i.e. 8 staking tx thus far today and two orphaned stakings). Just to confirm, I shut down the GUI client and fired up the headless daemon - which also consumed 33% of the thread, so the elevated CPU use is not explained by some infelicity introduced into the GUI.

With a continual stream of incoming tx, that 30% will simply increase until the total thread compute capacity is reached and then the engine will start to fall behind. It's an issue for some PoS coins - Sprouts (a PPCoin clone with a codebase not too dissimilar to Slimcoin's) was recently delisted by Cryptopia because their wallet was crashing “30 times a day”, a condition apparently local to them and not reported by anyone else. There is some evidence to suggest that the exchange was staking the coins in the deposit wallet, which could well explain the particularly acute problem they were experiencing.

The Slimcoin address which I used to have in my local GUI client is now being curated by my remote server, a faster m/c, where it only consumes 5% of its allocated thread.

I’m tempted to consider this as a consequence of the basic design tradeoff entailed by PoS in the constraining of hash work calculations to the thread in which the app is executing - in PoW coins, hash work calculations are performed by recruiting additional compute power from a separate spawned thread, leaving the app's ability to respond to user input unimpaired.

Fortunately, Slimcoin’s mint-by-proof-of-burn offers a compute-friendly alternative: if your client is thrashing then don’t stake, burn.

Each to his own, ofc.

Cheers

Graham
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May 18, 2017, 08:52:00 PM
 #567

What will be a maximum of SLM that will be created if there will be a limit. Where can I find this information?
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May 20, 2017, 06:02:21 AM
 #568

What will be a maximum of SLM that will be created if there will be a limit. Where can I find this information?

There is no maximum. Slimcoin has a dynamic block reward mechanism that is similiar to that of Peercoin. In short: the higher the difficulty, the lower the block rewards and the "supply inflation".

The actual supply is about 13,8 million (see stats here). Take into account that the coin exists for almost three years ... if I'm right, then in 8 days we'll have the third anniversary.

This is an old coin with some kind of technical novelty that appeals to a smarter cut of people who have more knowledge of crypto. I don't understand the technical stuff but I do see the footprint of a better coin.

Definitively it is not the easiest thing to describe in short terms the advantages of Slimcoin. I'm trying it out here: on the draft of the Slimcoin project homepage. Feedback is appreciated.

@gjhiggins: Thank you for the explanation, it's also interesting for me. Maybe I'll add it to a sort of FAQ to the wiki or the new web page.

I conclude that if you want to stake and minimize CPU load you should try to use a "clean" account with only one input in it that is not receiving coins by "minting by burn". And that for the performance of Slimcoin's client for "stakers" it would be beneficial to have more nodes that are staking.


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gavrilo77
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May 20, 2017, 06:22:01 AM
 #569

Did someone experienced shutting down the client 0.5 several min after starting mining? Every time i start mining my wallet client collapse. Now i am doing sync of block chain from the beginning and i will see

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May 20, 2017, 06:25:21 AM
 #570

@d5000

Can you make description of all features in the new wallet?

I still have 50 000 SLM for giveaway. I think maybe you can have some address where we can send certain amounts which can be used for marketing, graham dev, and so. Maybe some re-design of logo or wallet.

BitSend ◢◤Clients | Source
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| Algo: XEVAN | DK3 | Masternodes
| BSD - Tether USDT Pair ✔
| Bittrex | C.Gather | S.Exchange
| Cryptopia | LOCALCRYPTO | Livecoin
| CoinPayments | Faucet | Bitsend Airdrop

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May 20, 2017, 07:20:26 AM
 #571

Another couple of questions:
- do you need to mine to create new coin even if you burn them or burning itself is like mining?
- the higher return in case of burning is not guaranteed, right?
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May 20, 2017, 07:35:25 AM
 #572

I compiled again wallet from master.

1. Sync is OK
2. Mining works (low hash rate not found block yet)
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May 20, 2017, 07:46:52 AM
 #573

Another couple of questions:
- do you need to mine to create new coin even if you burn them or burning itself is like mining?
- the higher return in case of burning is not guaranteed, right?


Yes. You need to mine to create the new block but mining blocks and blocks generated by burning of coins are not depended. One block by mining is 50 SLM and by burning is 250 SLM. Of course this is depend from difficulties. Bigger difficulties means less block reward. Maybe d5000 or Graham can correct me.

For the staking i dont stake every day. After a few month i activate staking than one time coming all stake coins so i dont have a problem with CPU usage.

By my experience if you burn 100 000 SLM, in 3-4 months you should have return and all the rest is pure profit. For this your wallet has to be open all the time.

BitSend ◢◤Clients | Source
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| Your Digital Network | 10MB Blocks
| Algo: XEVAN | DK3 | Masternodes
| BSD - Tether USDT Pair ✔
| Bittrex | C.Gather | S.Exchange
| Cryptopia | LOCALCRYPTO | Livecoin
| CoinPayments | Faucet | Bitsend Airdrop

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May 20, 2017, 08:04:51 AM
 #574

Another couple of questions:
- do you need to mine to create new coin even if you burn them or burning itself is like mining?

No, you can burn coins and leave the wallet connected and it will mint - without having to mine (PoW). If you have burnt enough coins to find blocks, you will get rewards. It is very similar to Proof of Stake, only that you must burn actively. Only if you have your wallet encrypted, then you must unlock it with the walletpassphrase RPC command or the GUI function.

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- the higher return in case of burning is not guaranteed, right?

No, it's not guaranteed, but there must be some rare conditions to not getting your "investment" back (at least in a couple of months). First, you could have burnt too few coins, so your probability is too low to find blocks - like if you're mining Bitcoin with a CPU now.  Second, there could be the case that the "burners" have burnt so many coins that they will never get their investment back. But that is an very extreme situation. What is possible is that in times where many people burn coins, you would have to wait some weeks or even months to actually "profit" from it.

I've actually burnt on an account as few as 3000 SLM and get regularly burning rewards, but it lasted a while to come into the "profit zone".

Can you make description of all features in the new wallet?

I'm still testing it and run into an error (see below). If I solve them, yes - that's one of the planned items of the new web site.

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I still have 50 000 SLM for giveaway. I think maybe you can have some address where we can send certain amounts which can be used for marketing, graham dev, and so. Maybe some re-design of logo or wallet.

My Slimcoin wallets at this moment are a bit unstable (I'm setting up Slimcoin accounts on different platforms to test the new 0.5 wallet, the old 0.3 wallet crashes regularly) so at this moment I would not like to "administrate" a bounty fund or organize a giveway or something like that. That can change in the future. Anyway, for now, I think the only person that deserves a bounty is Graham for his excellent work. Smiley

In the future I could involve more into marketing/communication, and in this case I could set up an account for donations (e.g. for a blog with regular news), or issue a kind of asset for that. I'm currently trying to understand @Graham's proposal for a future usage of OP_RETURN in conjunction with RDF, that probably would give us the possibility to issue assets for crowdfunding, apart from the "collective intelligence" network (web site decentralized storage) he proposed (if you're reading @gjhiggins, I'll shortly ask you some questions about that because I like your proposal.).

Now to my 0.5 wallet testing issues:

I am running into the following error when compiling the QT 0.5 Linux wallet on a machine with QT 5.6:

When compiling inscriptiontablemodel.cpp, make complains about setSecsSinceEpoch not being supported.

I have found out that this function is only supported in QT 5.8 and higher. In older QT versions, however, there seems to be a similar function called setMSecsSinceEpoch.

Unfortunately I don't "speak  C++", but is there a workaround for that using the older function? QT 5.8 is pretty new, it seems (the stable release was in January) and so maybe a fallback would make sense for older operating systems.

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yaffa01
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May 20, 2017, 12:05:23 PM
 #575

Thanks for the clarification, I was thinking something along the same lines.


excellent work and good remarks here for further discussion.
gjhiggins
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May 20, 2017, 05:16:30 PM
 #576

When compiling inscriptiontablemodel.cpp, make complains about setSecsSinceEpoch not being supported.

Ah, mea culpa. I should have realised the need for a backward-compatible solution. I'll commit a fix later this evening.

Cheers

Graham
muf18
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May 20, 2017, 09:29:04 PM
 #577

Nice coin, see quite potential for this as this is now only PoB coin and have some good devs too work also. Picked some in nova, but liquidity is so low, it really lacks so much attraction from ppl. Sell and buy orders are so apart... And the whole capitalization is also very low. But I'm having little problem with synchronzing my wallet - it stopped at somepoint and didn't count more nodes...
I must try agaan tommorow. I hope it will be listed on more exchanges and more liquidity with higher volume. I can help with some marketing or promotion if someone would like too, maybe reddit threat restoring?

d5000
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May 21, 2017, 01:27:14 AM
 #578

When compiling inscriptiontablemodel.cpp, make complains about setSecsSinceEpoch not being supported.

Ah, mea culpa. I should have realised the need for a backward-compatible solution. I'll commit a fix later this evening.
Thank you for the fix - that was really fast! The client now compiles fine (for any other person having this problem: just update the "master" branch, now it should work with Qt 5.2+). It seems to work well. These days I'll play around a bit with it, to check syncing on different machines and try out the "Inscription service" on the Testnet, and maybe ask you some questions about it.

I'm having little problem with synchronzing my wallet - it stopped at somepoint and didn't count more nodes...

Which wallet version do you use? Linux, Windows, Mac Os? 0.3, 0.4 or 0.5?

The sync problem (above all on Linux) is already known but has improved greatly  with the later clients. It should sync eventually if you are not on a fork. Maybe you just should delete your blockchain data (blk0001.dat, blkindex.dat, addr.dat and the database folder - of course first you should backup your wallet (wallet.dat) if you have coins in it) and start the client again.

Quote

I can help with some marketing or promotion if someone would like too, maybe reddit threat restoring?

Stay tuned, I want to do some polishing of the subreddit and maybe I can add you as a moderator.

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bobitza202
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May 21, 2017, 01:07:26 PM
 #579

I've been playing a little with the 0.5 Windows Wallet, it's quite stable, synced succesfully.I can clearly see there is an advanced knowledge level on this topic, very professional  Grin
nemwanderer
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May 21, 2017, 03:46:40 PM
 #580

Hi there

I'm new to the forums but I've been investing in crypto for some time now. As everyone in this thread knows, slimcoin is a very interesting concept and the first of its kind.

I'm building a portfolio of crypto as a long-term investor, and would like to add some SLM. I'm looking to add 2-3 BTC worth, so a small investment, but the liquidity seems to be totally nonexistent.

Is anyone interested in selling these to me? If so, PM me please. To the devs, I'd like to stress that I'm in it for the long haul, NOT looking for a quick buck but rather an investment into exciting new technologies. With that in mind, I'm happy to help on the development/marketing front if needs be-just let me know.

Looking forward to hearing from someone.

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