[ANNOUNCE] SolidCoin - new and improved block chain. Secure from pools

[CoinHunter]

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Public Mining started 5 minutes after this thread was created. Only 940 blocks or 30080 coins were premined for bounties.

SolidCoin is an open source digital currency, based on the cryptocurrency Bitcoin, which is distributed over a peer-to-peer network to offer irreversible, low-cost, anonymous and decentralized monetary transactions.

SolidCoin officially started on the 20th of August 2011.


How does SolidCoin differ from Bitcoin?

• Faster transaction processing
• Protection against pump-n-dump by large pools
• Twice daily difficulty retargets
• 3 minute blocks, 32 SolidCoins per block
• Maximum coin generation of 18.9 million (18900000) to be reached by ~2022
• Fixed transactions fees instead of unknown variable fees in BTC
• Interface improvements
• JSON API improvements
• Different address format

   

But do we need an alternative to Bitcoin?
The answer is simply YES! Bitcoin itself has shown that P2P cryptocurrencies can work and can be relatively secure when it comes to only owners of the coins using them. However it is far from perfect.

As Bitcoin itself and other similar chains have seen, there are numerous vulnerabilities and issues in the protocol, including :-

• Slow transaction speeds, often making waiting for confirmations unbearable
• Near complete shutdown of network due to pump-n-dumps by large operators
• Transaction fee nightmares, no way of knowing what a fee will be until you've tried to send funds
• Concentration of Bitcoins into elitist early adopters that have no interest or desire to help Bitcoins be used by "normal" people

Read more about SolidCoin here

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[Kartoff]

Sounds verry nice... I will give it a try

[caston]

As usual I am missing this one out as I  on the way to work now. I will not be mining tonight either but for good reason as I have an interview for a much better job tomorrow!

[Kartoff]

Diff : 1.69362967   

[caston]

Diff : 1.69362967   

Arggh

[Kartoff]

It's 1,88183776 now... Seems it changes fast...

[doublec]

It's 1,88183776 now... Seems it changes fast...

Yes, it adjusts much faster than bitcoin. According to the solidcoin faq:

In SolidCoin difficulty can raise by a maximum of 10% every 12 hours (or 240 blocks), however it can lower difficulty 400% in 12 hours also. Why this disparity in increasing and decreasing difficulty? One reason, it minimizes the effects of a pump-n-dump.

[k98kurz]

I like the changes made to the BitCoin protocol and block chain; this is a far more useful deviance than ixcoin. I would like to point out that the options window crashes the program on windows.

[simonk83]

Am I the only one who's nervous about downloading these random programs from random people?    I hope not

[Kartoff]

It's 1,88183776 now... Seems it changes fast...

Yes, it adjusts much faster than bitcoin. According to the solidcoin faq:

In SolidCoin difficulty can raise by a maximum of 10% every 12 hours (or 240 blocks), however it can lower difficulty 400% in 12 hours also. Why this disparity in increasing and decreasing difficulty? One reason, it minimizes the effects of a pump-n-dump.

Yes yes thats what i mean And i like it... So, doublec, what are you considering to do this time ? Will you make pool and exchange ?

[caston]

It's 1,88183776 now... Seems it changes fast...

Yes, it adjusts much faster than bitcoin. According to the solidcoin faq:

In SolidCoin difficulty can raise by a maximum of 10% every 12 hours (or 240 blocks), however it can lower difficulty 400% in 12 hours also. Why this disparity in increasing and decreasing difficulty? One reason, it minimizes the effects of a pump-n-dump.

Yes yes thats what i mean And i like it... So, doublec, what are you considering to do this time ? Will you make pool and exchange ?

Please don't. Encourage it to be used as a currency. To many people got burned on the previous ones.

[doublec]

Yes yes thats what i mean And i like it... So, doublec, what are you considering to do this time ? Will you make pool and exchange ?

There's a pool up at http://scpool.bitparking.com/pool. Note the extra fee over my other pools! I lost money on the i0 and ix coin pools due to the fact I pay out on orphans and there are a lot in the early stages. I'm upped the fee a bit in this earlier period to hopefully adjust. I'm considering an exchange.

[dub0matic]

client is garbage time to recompile

[doublec]

Please don't. Encourage it to be used as a currency. To many people got burned on the previous ones.

It'll happen eventually anyway. People will want to trade it even if it's otc. You can avoid getting burned by not participating in the speculation.

[doublec]

client is garbage time to recompile

What's the problem with the client? What platform?

[smoothie]

Yes yes thats what i mean And i like it... So, doublec, what are you considering to do this time ? Will you make pool and exchange ?

There's a pool up at http://scpool.bitparking.com/pool. Note the extra fee over my other pools! I lost money on the i0 and ix coin pools due to the fact I pay out on orphans and there are a lot in the early stages. I'm upped the fee a bit in this earlier period to hopefully adjust. I'm considering an exchange.

how do u already have 1042 blocks found already on this pool?

[doublec]

how do u already have 1042 blocks found already on this pool?

I brought the pool up when it was made public soon after block 940. My pool is custom written, not using pushpoold. I can bring up a pool for a new currency by changing a couple of configuration parameters and it's on.

[caston]

yes I can confirm I have having issues with the daemon and with building from source.

 make -f makefile.unix solidcoind
g++ -c -O2 -Wno-invalid-offsetof -Wformat -g -D__WXDEBUG__ -DNOPCH -DUSE_SSL -DUSE_UPNP=0 -o obj/nogui/util.o util.cpp
Assembler messages:
Fatal error: can't create obj/nogui/util.o: No such file or directory
make: *** [obj/nogui/util.o] Error 1

I'm at work anyway just using my notebook so there is no way I will be able to mine for about another 24 hours as I have a job interview tomorrow.

I like the idea of this though. Might come on board for a S0 launch.

[doublec]

yes I can confirm I have having issues with the daemon and with building from source.

What are the issues? If you can build any of the other chains, this should just build.

[dub0matic]

client is garbage time to recompile

What's the problem with the client? What platform?

on windows7 and cant open options but ole pool mining is hella easier