[ANN][SLR] SolarCoin - PoW reward for solar energy | the GREEN KING of Crypto

[corather]

Isn't there an honorary position available for you Joely?

There'd better not be!!!  Ewe... I hate titles. Blech.

   

[1714655835]

1714655835

[1714655835]

1714655835

[Epiphany]

Very sad but as long as you stick around it is all good.

I'm not going anywhere. 

Enjoy your life now.
You're welcome back next year when with block rewards cut and pos implemented we stay here with this golden coin in hand, thinking early times like now where people like you dedicated more than they could do to make solaroin the best crypto outthere.   
See ya!

/blush

[passionsurf]

I also want to let you all know that Nick Gogerty, the Chair of our new Economics & Monetary Policy Committee, did make his report to the Board by July 5 as stated in the minutes, and all the remaining Board members agree to pursue his plan for a gradual reduction of block reward of SolarCoin to bring down the very high inflation rate that has been keeping the price suppressed. The Board has not officially voted yet to implement the change, but unless people suddenly change their minds, it looks like it will occur in the near future.

Could you share any details on the new block reward structore?

Nick's proposal, which everyone who remains on the Board agrees with, is for the block reward to decline a small amount each day, halving approximately every month for about 6 months until it gets down to 5 SLR per block, and then the rate of decrease to switch to an annual halving rate. If we start doing this in August, the reward would gradually decline from 100 to 5 by February 2015, and then in February 2016 it would be 2.5, and so on.

I want to reiterate that this proposal has not been officially approved by the Board, but we're leaning towards doing it.

So initially it was planned that ~52 million coins would be mined the first year before the first block halving (Jan 2015). If this block reward decline begins in August (per Nick's idea), then will the remaining several million coins be distributed through PoS, so that 52 million coins will still have been produced in the first year?

[freebird]

I also want to let you all know that Nick Gogerty, the Chair of our new Economics & Monetary Policy Committee, did make his report to the Board by July 5 as stated in the minutes, and all the remaining Board members agree to pursue his plan for a gradual reduction of block reward of SolarCoin to bring down the very high inflation rate that has been keeping the price suppressed. The Board has not officially voted yet to implement the change, but unless people suddenly change their minds, it looks like it will occur in the near future.

Could you share any details on the new block reward structore?

Nick's proposal, which everyone who remains on the Board agrees with, is for the block reward to decline a small amount each day, halving approximately every month for about 6 months until it gets down to 5 SLR per block, and then the rate of decrease to switch to an annual halving rate. If we start doing this in August, the reward would gradually decline from 100 to 5 by February 2015, and then in February 2016 it would be 2.5, and so on.

I want to reiterate that this proposal has not been officially approved by the Board, but we're leaning towards doing it.

So initially it was planned that ~52 million coins would be mined the first year before the first block halving (Jan 2015). If this block reward decline begins in August (per Nick's idea), then will the remaining several million coins be distributed through PoS, so that 52 million coins will still have been produced in the first year?

No, the idea is to reduce the number of coins produced this year and spread out the distribution of the remaining coins over many years to come, at a low inflation rate, i.e. it would eventually fall to something like 5% or even less. We DO want to switch to PoS, but what we're trying to accomplish is a gradual transition from the high mining rewards of a PoW system in its first year to the typically low staking rewards of a PoS system. PoS would presumably be implemented in late 2014 or early 2015, after the PoW block reward has fallen a lot, so that the change wouldn't be a sudden shock to the monetary structure of the coin.

[freebird]

Regarding Joely's resignation, I am of course very sad that she decided to resign. She was a great contributor on the Board. But I totally understand and respect her reasons.

The only reason I didn't announce her resignation is because Nick and I were still trying to persuade her not to resign. Unfortunately neither of us succeeded.

Joely, enjoy your much-needed break from SolarCoin, and I hope you'll remain involved in the future in some way, however much or in whatever way you're comfortable with. 

[passionsurf]

I also want to let you all know that Nick Gogerty, the Chair of our new Economics & Monetary Policy Committee, did make his report to the Board by July 5 as stated in the minutes, and all the remaining Board members agree to pursue his plan for a gradual reduction of block reward of SolarCoin to bring down the very high inflation rate that has been keeping the price suppressed. The Board has not officially voted yet to implement the change, but unless people suddenly change their minds, it looks like it will occur in the near future.

Could you share any details on the new block reward structore?

Nick's proposal, which everyone who remains on the Board agrees with, is for the block reward to decline a small amount each day, halving approximately every month for about 6 months until it gets down to 5 SLR per block, and then the rate of decrease to switch to an annual halving rate. If we start doing this in August, the reward would gradually decline from 100 to 5 by February 2015, and then in February 2016 it would be 2.5, and so on.

I want to reiterate that this proposal has not been officially approved by the Board, but we're leaning towards doing it.

So initially it was planned that ~52 million coins would be mined the first year before the first block halving (Jan 2015). If this block reward decline begins in August (per Nick's idea), then will the remaining several million coins be distributed through PoS, so that 52 million coins will still have been produced in the first year?

No, the idea is to reduce the number of coins produced this year and spread out the distribution of the remaining coins over many years to come, at a low inflation rate, i.e. it would eventually fall to something like 5% or even less. We DO want to switch to PoS, but what we're trying to accomplish is a gradual transition from the high mining rewards of a PoW system in its first year to the typically low staking rewards of a PoS system. PoS would presumably be implemented in late 2014 or early 2015, after the PoW block reward has fallen a lot, so that the change wouldn't be a sudden shock to the monetary structure of the coin.

That makes sense. Thanks for the clarification.

I think this will definitely help boost the market price. And now I'm even considering selling my miners and using the money to buy coins rather than mine them.

[vipgelsi]

Freebird is there any way to see the top solarcoin wallets?

[vipgelsi]

Everyone try and support solarcoin on bittrex spread the love...

https://bittrex.com/News


Potential Market Delistings Friday July 11th
#A3C, #BOUN, #COIN2, #FCN, #GRK, #LION, #XLC, #MHYC, #NEB, #PER, #ROM, #SHIBE, #SNCX, #UVC, #WATER, and #WVS Developers, please contact us to keep the market from delisting.


Potential Market Delistings Midnight EST
#BTCX, #CT, #DRM, #DVK, #FLASH, #HIC, #HC, #LIMX, #X13C Increasing the trading volume will keep these coins on our markets. https://bitcointalk.org/index.php?topic=635824.msg7084920

[freebird]

Freebird is there any way to see the top solarcoin wallets?

You can see the cold storage wallets (i.e. the coins held in reserve for grants) on the block explorer: http://blockexplorer.solarcoin.org/

Other than that, I don't think we have a "rich list" to view the biggest SolarCoin holders. Somebody please post it if there is one that I don't know about.

[freebird]

Everyone try and support solarcoin on bittrex spread the love...

https://bittrex.com/News


Potential Market Delistings Friday July 11th
#A3C, #BOUN, #COIN2, #FCN, #GRK, #LION, #XLC, #MHYC, #NEB, #PER, #ROM, #SHIBE, #SNCX, #UVC, #WATER, and #WVS Developers, please contact us to keep the market from delisting.


Potential Market Delistings Midnight EST
#BTCX, #CT, #DRM, #DVK, #FLASH, #HIC, #HC, #LIMX, #X13C Increasing the trading volume will keep these coins on our markets. https://bitcointalk.org/index.php?topic=635824.msg7084920

Good to hear that we're not one of the coins being delisted. We probably have barely enough volume there to remain listed.

I've also been trying to encourage people to buy on Bittrex instead of AllCrypt because we don't want to get delisted from a major exchange like Bittrex, but for some reason the majority of our volume is still on AllCrypt. Maybe the good news is that means a lot of people are buying SLR who don't read the forums. Probably most of us who read the forums have switched to Bittrex, and I think about 25% of our volume or something like that is now on Bittrex, but I'd like to see it get up to at least 75% of our volume.

[corather]

Everyone try and support solarcoin on bittrex spread the love...

https://bittrex.com/News


Potential Market Delistings Friday July 11th
#A3C, #BOUN, #COIN2, #FCN, #GRK, #LION, #XLC, #MHYC, #NEB, #PER, #ROM, #SHIBE, #SNCX, #UVC, #WATER, and #WVS Developers, please contact us to keep the market from delisting.


Potential Market Delistings Midnight EST
#BTCX, #CT, #DRM, #DVK, #FLASH, #HIC, #HC, #LIMX, #X13C Increasing the trading volume will keep these coins on our markets. https://bitcointalk.org/index.php?topic=635824.msg7084920

Good to hear that we're not one of the coins being delisted. We probably have barely enough volume there to remain listed.

I've also been trying to encourage people to buy on Bittrex instead of AllCrypt because we don't want to get delisted from a major exchange like Bittrex, but for some reason the majority of our volume is still on AllCrypt. Maybe the good news is that means a lot of people are buying SLR who don't read the forums. Probably most of us who read the forums have switched to Bittrex, and I think about 25% of our volume or something like that is now on Bittrex, but I'd like to see it get up to at least 75% of our volume.

Concerned noted. I think Bittrex will not de-list SLR. There's not a lot of volume there but it's actively traded every day. I think Bittrex's formulas take that into account.

[Epiphany]

What kind of 'tard does a market order for 92,455 in such a thin market? Do they not even look at the order book before clicking that button??? Gawd... 

[vipgelsi]

What kind of 'tard does a market order for 92,455 in such a thin market? Do they not even look at the order book before clicking that button??? Gawd...  

"There's a Sucker Born Every Minute"

[Epiphany]

What kind of 'tard does a market order for 92,455 in such a thin market? Do they not even look at the order book before clicking that button??? Gawd...  

"There's a Sucker Born Every Minute"

  I shouldn't have appeared so harsh, so let me clarify. I don't have a problem with someone selling (even though I'd rather they didn't, obviously), anyone can do whatever they want, it's their money. My issue is more with trading in a competent manner and exercising a little patience, that's all. The bids will filter back in over a day or two so if you're going to mine and sell for profit, at least make an attempt to not move the market unnecessarily.

[corather]

What kind of 'tard does a market order for 92,455 in such a thin market? Do they not even look at the order book before clicking that button??? Gawd...  

"There's a Sucker Born Every Minute"

  I shouldn't have appeared so harsh, so let me clarify. I don't have a problem with someone selling (even though I'd rather they didn't, obviously), anyone can do whatever they want, it's their money. My issue is more with trading in a competent manner and exercising a little patience, that's all. The bids will filter back in over a day or two so if you're going to mine and sell for profit, at least make an attempt to not move the market unnecessarily.

We need sellers for an active market. The more transactions the better. If everyone held there would be stagnation and the market would appear dead. There's still a lot of interest in Solarcoin in the broader market, don't be fooled into thinking no one is interested. In fact there's more interest in Solarcoin than in most any other Crypto currency right now. It's just hidden, and unless you know what you're looking for you won't see it.

Keep the faith, get the Company incorporated, hire on some new directors and get this thing rocking. The market is being patient however, though a lot of work needs to be done to springboard this coin into mass market appeal.

[vipgelsi]

This will get very interesting when the block reward is around 5 a minute.

[Epiphany]

This will get very interesting when the block reward is around 5 a minute.

Agreed. The "incentive" for generators to start claiming their coins is alot closer than people realize. Especially if Phase 1 of the automation happens in and around the same time. I realize there still isn't 100% confirmation of exactly when these things will be implemented but the information is in the public domain. There is a possibility that supply will shrink, price goes up, demand goes up all in a relatively short amount of time. But nobody is paying attention if the current volume and price are any indication.

We could be closing in on the end of the SolarCoin six month public IPO (that's essentially what's been going on all this time right?).  

[corather]

This will get very interesting when the block reward is around 5 a minute.

Agreed. The "incentive" for generators to start claiming their coins is alot closer than people realize. Especially if Phase 1 of the automation happens in and around the same time. I realize there still isn't 100% confirmation of exactly when these things will be implemented but the information is in the public domain. There is a possibility that supply will shrink, price goes up, demand goes up all in a relatively short amount of time. But nobody is paying attention if the current volume and price are any indication.

We could be closing in on the end of the SolarCoin six month public IPO (that's essentially what's been going on all this time right?).  

The price is actually quite high. That's the hidden part I was talking about earlier. It's an illusion only that it seems, 400 satoshis or so seems low, but it really isn't. There is market interest for this coin, more so than most. And it didn't happen for no reason. There's a direct correlation between all the right things the board is doing with regular board meetings and frankly darn good decisions they're making.

[passionsurf]

This will get very interesting when the block reward is around 5 a minute.

Agreed. The "incentive" for generators to start claiming their coins is alot closer than people realize. Especially if Phase 1 of the automation happens in and around the same time. I realize there still isn't 100% confirmation of exactly when these things will be implemented but the information is in the public domain. There is a possibility that supply will shrink, price goes up, demand goes up all in a relatively short amount of time. But nobody is paying attention if the current volume and price are any indication.

We could be closing in on the end of the SolarCoin six month public IPO (that's essentially what's been going on all this time right?).  

The price is actually quite high. That's the hidden part I was talking about earlier. It's an illusion only that it seems, 400 satoshis or so seems low, but it really isn't. There is market interest for this coin, more so than most. And it didn't happen for no reason. There's a direct correlation between all the right things the board is doing with regular board meetings and frankly darn good decisions they're making.

You might be right about the price, especially when comparing it with other coins like dogecoin or karmacoin. When dogecoin was supposed to be capped to 100 billion, it reached a peak price of just under 300 satoshis (and then the price dropped when they changed it to infinite coins... idiots). And karmacoin is capped at 92 billion. It's peak price was around 7-8 satoshis, and dropped well below 1 satoshi (trading in the litecoin market). Mintcoin is capped at 70 billion, and its peak was around 50-60 satoshis. So considering that Solarcoin is capped at 98.1 billion, it is doing way better than dogecoin, or mintcoin ever was (from a price standpoint). ... But possibly this is because Solarcoin actually does have more potential than these other coins, so early investors are willing to pay more. Just a thought.

[vipgelsi]

Currently as i type this i could buy 41,000 solarcoins for around $126  
Try that in a year from now!


In feb of 2015 there will only be 7200 solarcoins minted a day. and in 2016 = 3,600

Very exciting times ahead.