Slimcoin | First Proof of Burn currency | Decentralized Web

[PeterTheGrape]

...

I understood that he wants to buy SLM at 0.00000222 for 0.1 BTC

Ah, you can find similar for almost each coin

Yeah, and sometimes they get bought at those prices if there is a mad run up and none for sale, but somebody has seen that possibility and taken care of it.



So even if Slimcoin is mentioned by the New York Times, and Donald Trump himself wants to buy up the coin, unless he has 552 billion bitcoin he is not going to get that person's slim stash.

[d5000]

Do you how big is the PoS block reward?

It is very small, like in Peercoin. I don't remember the exact formula (I think it was 2% of the staking coins per year, but I may be wrong), but check the block explorer in http://www.slimcoin.club/#blkexp and you will see the block rewards in the column "Amount Minted".

[Sorai]

I began downloading the blockchain for the Mac wallet 3 days ago.  It is kind of slow.  I am only at 40% and I estimate it will take 5-7 more days to download the complete blockchain.  Is there a way to download it faster?  

Glad to hear that syncing is at least looking promising

But yes, there is - the old “datadir snapshot” approach still works as I proved to myself the other day, bringing a freshly-compiled OS X Slimcoin binary up to date. The resource

https://minkiz.co/noodlings/slm/slm-datadir-snapshot.zip

is a nightly snapshot of selected datadir contents (blk0001.dat, blkindex.dat and database/*.log) from a Slimcoin client compiled with BSD 4.8.

Download, copy to ~/Library/Application Support/SLIMCoin, unzip in place.

Hi Graham,

When I click the link that you provided, I sometimes get an error message that reads, "The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later."   Other times nothing happens.  On one occasion it started to download, but then the download stopped.  Doesn't seem to matter which browser or computer I use.  Nothing I've tried so far has worked.

As for the syncing, after 6 days, it seems to have stopped at 66%.  It had been making steady progress at 10% per day.   I'm crossing my fingers that it's just taking a break and will eventually resume.    

[gjhiggins]

When I click the link that you provided, I sometimes get an error message that reads, "The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later."

...

As for the syncing, after 6 days, it seems to have stopped at 66%.  It had been making steady progress at 10% per day.   I'm crossing my fingers that it's just taking a break and will eventually resume.    

Try (literally, i,e stop and restart the app) “turning it off and on again”. I had to do that with the OS X client.

Apologies for the minkiz failure, good ole' BSD: MemoryError: (12, 'Cannot allocate memory -- BDB2055 Lock table is out of available lock entries'), I need to turn the webserver off'n'on again (after first navigating to the directory containing the db files and incanting a 5th-level Unix wizard's spell of “BDB Giddyap”, i.e. db53_recover -h . (not forgetting the “.”) --- which I have now done and minkiz is up'n'running again and (having tested the link) should now deliver a snapshot in reasonably short order:

https://minkiz.co/noodlings/slm/slm-datadir-snapshot.zip

However, given that you're well advanced in a “proper” sync from the network, you may wish to let the OS X client continue to synch from the network --- fwiw I would consider that a useful “external” test and would compensate you accordingly with a small shower of SLM (and partly as a quid pro quo for wasting your time by pointing you to a non-functioning service).

Cheers

Graham

[gjhiggins]

Do you how big is the PoS block reward?

https://github.com/slimcoin-project/Slimcoin/blob/slimcoin/src/main.cpp#L1049

Code:

// slimcoin: miner's coin stake is rewarded based on coin age spent (coin-days)
int64 GetProofOfStakeReward(int64 nCoinAge, u32int nTime)
{
    // FIXME static int64 nRewardCoinYear = CENT;  // creation amount per coin-year
    int64 nRewardCoinYear = nTime > POB_POS_TARGET_SWITCH_TIME ? (10 * CENT) : CENT;  // creation amount per coin-year
    int64 nSubsidy = nCoinAge * nRewardCoinYear * 33 / (365 * 33 + 8);

    if (fDebug && GetBoolArg("-printcreation"))
        printf("GetProofOfStakeReward(): create = %s nCoinAge = %"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nCoinAge);
    return nSubsidy;
}

(The FIXME is the old ppcoin code, preserved for reference.) As can be seen from the code, details can be obtained by specifying the -printcreation command-line arg on startup and (in case it slid under your radar) -debug is also required for such loquacious logging.

Cheers

Graham

[johnwhitestar]

Do you how big is the PoS block reward?

https://github.com/slimcoin-project/Slimcoin/blob/slimcoin/src/main.cpp#L1049

Code:

// slimcoin: miner's coin stake is rewarded based on coin age spent (coin-days)
int64 GetProofOfStakeReward(int64 nCoinAge, u32int nTime)
{
    // FIXME static int64 nRewardCoinYear = CENT;  // creation amount per coin-year
    int64 nRewardCoinYear = nTime > POB_POS_TARGET_SWITCH_TIME ? (10 * CENT) : CENT;  // creation amount per coin-year
    int64 nSubsidy = nCoinAge * nRewardCoinYear * 33 / (365 * 33 + 8);

    if (fDebug && GetBoolArg("-printcreation"))
        printf("GetProofOfStakeReward(): create = %s nCoinAge = %"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nCoinAge);
    return nSubsidy;
}

(The FIXME is the old ppcoin code, preserved for reference.) As can be seen from the code, details can be obtained by specifying the -printcreation command-line arg on startup and (in case it slid under your radar) -debug is also required for such loquacious logging.

Cheers

Graham

Thank you!

[gjhiggins]

Coin control for PoB! Slimcoin truly is a mine field!   

Which is laid out for anyone to take a run at:

https://github.com/sproutcoin/sprouts/commit/f3c1b45dc091119f1d15974045bae9ec4db6cd58

Cheers

Graham

[gjhiggins]

Draggin' this over from the old thread ...

I am mostly a Peercoiner but Slimcoin has gotten my attention because of it being the first proof of burn currency, at first that was a slight curiosity but after trying it out I noticed one thing. Slimcoin has a much better incentive to keep a node online all the time than Peercoin, in fact since I burned some coins my node has pretty much stayed up constantly. I don't want to turn it off because I would miss out on collecting (these admittedly almost worthless) tokens.
...
Anyway, I was thinking of ways to increase adoption of Slimcoin, not just to have people buying a few as a speculation but to actually have them burn some and become part of the network. My idea is this: change the protocol so that when you burn coins you can specify the burned coins to be associated with a different address instead of the one you burned from. This would allow me to send someone burned coins but it would not allow for the trading of burned coins. A faucet and reddit tip bot could be setup for people who would like to try minting with Slimcoin and you could actually give people a decent amount without worrying that they would immediately sell for their favorite currency.

Perhaps create a BIP38 “2FA” paperwallet “Gift Token” of 100 SLM (*) with 90 already burned, leaving 10 SLM to allow plenty of opportunity to play with the inscription feature. The client generates the paperwallet address (read: the ECC priv/pub keypair) on behalf of the person operating the client so the privkey can be used (forcibly, on behalf of the recipient) to burn 90 SLM before the paperwallet is even printed with the address (WIF-formatted pubkey) and the encrypted privkey (the password to which is the 2nd “F” in “2FA” and must be communicated via a separate channel).

Or have I missed some showstopper that is obvious to everyone except me?

(*) or whatever value is viewed by the cognoscenti to be appropriate for a “starter kit” approach.

Cheers

Graham

[muf18]

Good idea is too create android wallet with burning coins functions, cause smartphones are the most low power devices.

[gjhiggins]

(*) or whatever value is viewed by the cognoscenti to be appropriate for a “starter kit” approach.

10 coins is not enough for a regular PoB income. You will probably find some blocks, but don't expect this to occur very fast (in some months, perhaps). The rate of "findings" is random, so it can be today, or in one year.

100 or even better 200 SLM coins, for now, are costing only 10-20 USD cents and you have a real chance to find blocks regularly if you burn them (one in about 1-2 weeks).

Cheers

Graham

[resor]

How i can start minning using slimcoind-qt ? , because i dont see the minning button.

[gjhiggins]

Do you how big is the PoS block reward?

Thank you!

Then there's the stuff in main.h https://github.com/slimcoin-project/Slimcoin/blob/slimcoin/src/main.h#L108 (up from there as well as down) which defines the variables for reference in main.cpp:

Code:

//Adjusts PoB and PoS targets
extern const uint64 POB_POS_TARGET_SWITCH_TIME;

But then you have to grep -rn POB_POS_TARGET_SWITCH_TIME src/* to find out where it's bound, consulted, sent to /dev/null, etc.

Cheers

Graham

[gjhiggins]

How i can start minning using slimcoind-qt ? , because i dont see the minning button.

Open the debug window / rpc console and enter:

help setgenerate

Code:

setgenerate <generate> [genproclimit]
<generate> is true or false to turn generation on or off.
Generation is limited to [genproclimit] processors, -1 is unlimited.

and

help getgenerate

Code:

getgenerate
Returns true or false.

The built-in miner is known to be slow in comparison to the optimized companion CPU/GPU miner implementations (see posts upthread and the previous thread for details).

Cheers

Graham

[resor]

But, where i can see the activity of the program when is minning?

[gjhiggins]

But, where i can see the activity of the program when is minning?

in the log file

Cheers

Graham

[resor]

Where is located that log file?

[gjhiggins]

Where is located that log file?

What operating system?

[resor]

Windows

[gjhiggins]

Windows

Version?

(nearly there)

nm

Old Windows: ${HOME}\Application Data\SLIMCoin\debug.log

New Windows: ${HOME}\Application Data\Roaming\SLIMCoin\debug.log

Cheers

Graham

[muf18]

Wow nice buy wall almost 2 btc at 250 satoshi, hard to sell it, uptrend has begun I see now. Very good, cause this coin was under pressure. Still to 1000 satoshis or 100K, which was is long way. But I see it brighter.