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

[terciops]

I'm kinda liking the 3rd option as it gives miners another shake at earning while making it more worthwhile to mine, I also like the short POW versus the long before transitioning to POS.  I however cannot solomine with my rigs so would only be able to mine if a pool was avail.

I suspect that the pools would drop us like a hot rock as the reward goes down.  That said, the big boys will not be too interested anyway so the diff rate will stay low.  Anticipating that, and because of the closure of my pool of choice, I decided to take a look at solo mining last week.  Although I thought it might be challenging - it is delightfully straightforward if you know where the bunkers are, and just takes a little twiddling to set up.  I have that process nailed down now, so if 'The Faithful' want a 'howto' on solo mining I will be happy to write that up or even do a short video of the process.

With difficulties in low single figures, even a GPU can solo mine effectively using your normal miner software of choice and the solarcoin wallet as the 'server'.

T

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[corather]

I like option 1. Keep in mind however PoS does nothing for the price of a particular coin. It is however a selling point for this particular coin for all the reasons solarcoin exists. I think a gradual reduction will wean people off mining this coin and secure the network on the way to proof of stake. There will be no interest in an attack because the block rewards will not make it worthwhile.

So my vote as a miner and buyer, Option 1.

[IMJim]

I'm kinda liking the 3rd option as it gives miners another shake at earning while making it more worthwhile to mine, I also like the short POW versus the long before transitioning to POS.  I however cannot solomine with my rigs so would only be able to mine if a pool was avail.

I suspect that the pools would drop us like a hot rock as the reward goes down.  That said, the big boys will not be too interested anyway so the diff rate will stay low.  Anticipating that, and because of the closure of my pool of choice, I decided to take a look at solo mining last week.  Although I thought it might be challenging - it is delightfully straightforward if you know where the bunkers are, and just takes a little twiddling to set up.  I have that process nailed down now, so if 'The Faithful' want a 'howto' on solo mining I will be happy to write that up or even do a short video of the process.

With difficulties in low single figures, even a GPU can solo mine effectively using your normal miner software of choice and the solarcoin wallet as the 'server'.

T

Yeah I have 3 290x cards I can solo mine with, but my main equipment are the 5 chip GridSeed units and those cannot solo mine the last I checked.  As far as I know there is no easy solution to do this yet.

[terciops]

I'm kinda liking the 3rd option as it gives miners another shake at earning while making it more worthwhile to mine, I also like the short POW versus the long before transitioning to POS.  I however cannot solomine with my rigs so would only be able to mine if a pool was avail.

I suspect that the pools would drop us like a hot rock as the reward goes down.  That said, the big boys will not be too interested anyway so the diff rate will stay low.  Anticipating that, and because of the closure of my pool of choice, I decided to take a look at solo mining last week.  Although I thought it might be challenging - it is delightfully straightforward if you know where the bunkers are, and just takes a little twiddling to set up.  I have that process nailed down now, so if 'The Faithful' want a 'howto' on solo mining I will be happy to write that up or even do a short video of the process.

With difficulties in low single figures, even a GPU can solo mine effectively using your normal miner software of choice and the solarcoin wallet as the 'server'.

T

Yeah I have 3 290x cards I can solo mine with, but my main equipment are the 5 chip GridSeed units and those cannot solo mine the last I checked.  As far as I know there is no easy solution to do this yet.

Nonsense.  I have 3 Gridseed Orbs and a (very troublesome) Gridseed Blade in my workshop, solo mining away at 838Mhz.  The little 5s do very well, pro rata even better than the Blade.  Try BFGMINER 4.2.0 on your GS Orbs - best for the job I have found.

[IMJim]

I'm kinda liking the 3rd option as it gives miners another shake at earning while making it more worthwhile to mine, I also like the short POW versus the long before transitioning to POS.  I however cannot solomine with my rigs so would only be able to mine if a pool was avail.

I suspect that the pools would drop us like a hot rock as the reward goes down.  That said, the big boys will not be too interested anyway so the diff rate will stay low.  Anticipating that, and because of the closure of my pool of choice, I decided to take a look at solo mining last week.  Although I thought it might be challenging - it is delightfully straightforward if you know where the bunkers are, and just takes a little twiddling to set up.  I have that process nailed down now, so if 'The Faithful' want a 'howto' on solo mining I will be happy to write that up or even do a short video of the process.

With difficulties in low single figures, even a GPU can solo mine effectively using your normal miner software of choice and the solarcoin wallet as the 'server'.

T

Yeah I have 3 290x cards I can solo mine with, but my main equipment are the 5 chip GridSeed units and those cannot solo mine the last I checked.  As far as I know there is no easy solution to do this yet.

Nonsense.  I have 3 Gridseed Orbs and a (very troublesome) Gridseed Blade in my workshop, solo mining away at 838Mhz.  The little 5s do very well, pro rata even better than the Blade.  Try BFGMINER 4.2.0 on your GS Orbs - best for the job I have found.

Wow, I searched pretty good too and could not find a solution.  I have only used fancy GUI programs with my Gridseeds so far, Hashra Controlla is what I started with and am now using the Minera software which I really like.  Will have to do some research on how to solo with these things using BFGMiner, hate to let go of Minera though....is really sweat software!

[terciops]

I'm kinda liking the 3rd option as it gives miners another shake at earning while making it more worthwhile to mine, I also like the short POW versus the long before transitioning to POS.  I however cannot solomine with my rigs so would only be able to mine if a pool was avail.

I suspect that the pools would drop us like a hot rock as the reward goes down.  That said, the big boys will not be too interested anyway so the diff rate will stay low.  Anticipating that, and because of the closure of my pool of choice, I decided to take a look at solo mining last week.  Although I thought it might be challenging - it is delightfully straightforward if you know where the bunkers are, and just takes a little twiddling to set up.  I have that process nailed down now, so if 'The Faithful' want a 'howto' on solo mining I will be happy to write that up or even do a short video of the process.

With difficulties in low single figures, even a GPU can solo mine effectively using your normal miner software of choice and the solarcoin wallet as the 'server'.

T

Yeah I have 3 290x cards I can solo mine with, but my main equipment are the 5 chip GridSeed units and those cannot solo mine the last I checked.  As far as I know there is no easy solution to do this yet.

Nonsense.  I have 3 Gridseed Orbs and a (very troublesome) Gridseed Blade in my workshop, solo mining away at 838Mhz.  The little 5s do very well, pro rata even better than the Blade.  Try BFGMINER 4.2.0 on your GS Orbs - best for the job I have found.

Here is a solo configuration file for your SLR wallet : (use the same passwords etc - it does not matter being internal).  The filename is solarcoin.conf and it can be found by right clicking on your SolarCoin Wallet icon and selecting OPEN FILE LOCATION....

Edit the solarcoin.conf file to read as this :

addnode=162.243.214.120
addnode=69.112.107.24
addnode=54.208.219.204
addnode=64.71.117.119
addnode=184.73.159.72
addnode=94.173.214.165
addnode=53.201.110.57
addnode=62.163.9.155
addnode=71.103.142.240
rpcuser=WorkShop
rpcpassword=WorkShop
rpcallowip=127.0.0.1
rpcport=4090
daemon=1
server=1
listen=1
gen=0


Here is a solo mining config for BFGMINER 4.2.0 (Google will find you a source - GitHub).  The expiry and scan-time values are on the low side, but the wallet is a bit slow and if you put them up to say 30 and 60 respectively to save bandwidth, you tend to get a few rejected shares.  However once the pools go quiet, that may not be the case with fewer miners and hash power in play.  Anyway, 10/10 works for me.

Paste this into bfgminer.conf and just run bfgminer as is - this is the default config.

{
"pools" : [
      {
      "url" : "127.0.0.1:4090",
      "user" : "WorkShop",
      "pass" : "WorkShop",
      "pool-priority" : "0"
      }
]
,
"api-listen" : true,
"api-mcast-port" : "4028",
"api-port" : "4028",
"expiry" : "10",
"expiry-lp" : "600",
"failover-switch-delay" : "300",
"gpu-platform" : "0",
"log" : "0",
"no-pool-disable" : true,
"no-client-reconnect" : true,
"no-unicode" : true,
"queue" : "1",
"scan-time" : "10",
"scrypt" : true,
"show-processors" : true,
"show-procs" : true,
"skip-security-checks" : "0",
"submit-stale" : false,
"kernel-path" : "C:/minerstuff/",
"scan" : [
   "gridseed:All"
],
"device" : [
   "GridSeed"
],
"set-device" : [
   "gridseed:clock=838"



The last job is to get your wallet into server mode.  Go back to the wallet directory and create a simple batch file - mine is called solosolar.bat

SolarCoin-Qt.exe -server




That will start your wallet in server mode and it will happily feed the miner in the background.  All other functions are normal.  Remember that the wallet must be running and up to date all the time you are mining.

This should be of help.  If any of the steps look a bit steep - get back to me and I will expand this.

[freebird]

I'm kinda liking the 3rd option as it gives miners another shake at earning while making it more worthwhile to mine, I also like the short POW versus the long before transitioning to POS.  I however cannot solomine with my rigs so would only be able to mine if a pool was avail.

I suspect that the pools would drop us like a hot rock as the reward goes down.

Do you think we'd stand a better chance of getting the pools to accept the fork if we go with Option 3, since the reward would stay the same until PoS kicks in?

That said, the big boys will not be too interested anyway so the diff rate will stay low.  Anticipating that, and because of the closure of my pool of choice, I decided to take a look at solo mining last week.  Although I thought it might be challenging - it is delightfully straightforward if you know where the bunkers are, and just takes a little twiddling to set up.  I have that process nailed down now, so if 'The Faithful' want a 'howto' on solo mining I will be happy to write that up or even do a short video of the process.

With difficulties in low single figures, even a GPU can solo mine effectively using your normal miner software of choice and the solarcoin wallet as the 'server'.

T

A write-up or video about how to solo-mine SLR would be great! (Edit: Just noticed your post above... thank you!) There's no guarantee that the pools will go along with any of the options for forking the coin, since all of them involve either reducing the reward of mining or ending mining. We might have to rely on solo mining by faithful SolarCoin supporters to fork the coin.

[LuckyKey]

I too like option #1

I have a bunch of (12 now) GPUs that I am selling off, and am picking up an ASIC scrypt rig…to go along with my 3.5 TH/s bitcoin rigs. I would be willing to keep the scrypt rig mining wherever needed (solo or pool) to push the solarcoin cause.

I also like the idea of securing the large grant wallets via a time-sealed escrow or similar….could possibly provide needed security and confidence to grow investor confidence.

All good!

[freebird]

I too like option #1

I have a bunch of (12 now) GPUs that I am selling off, and am picking up an ASIC scrypt rig…to go along with my 3.5 TH/s bitcoin rigs. I would be willing to keep the scrypt rig mining wherever needed (solo or pool) to push the solarcoin cause.

I also like the idea of securing the large grant wallets via a time-sealed escrow or similar….could possibly provide needed security and confidence to grow investor confidence.

All good!

Thanks for your willingness to help. Regarding time-sealed escrow, Nick is planning to set that up.

[IMJim]

terciops........I didn't want to re-quote your whole post, but DUDE.......thank you so much for taking the time to post this man, I really appreciate that!!

Quite nice to run into a nice and helpful crowd on this forum:-)

No man, with those instructions I should have no problem at all!  Will def reach out though if needed, and with that.......I can now offer up my 50 mh/s when/if needed whether a pool exists or not.  Assuming I can get all 16 of my rigs (each 10 Gridseeds) mining under one wallet solo, will be fun to try anyways.

So I'm game to give a lending hand if needed with whatever I can throw down, I see SLR as great long term investment so happy to help myself earn some more too:-)

Thanks again bud!!

[terciops]

I'm kinda liking the 3rd option as it gives miners another shake at earning while making it more worthwhile to mine, I also like the short POW versus the long before transitioning to POS.  I however cannot solomine with my rigs so would only be able to mine if a pool was avail.

I suspect that the pools would drop us like a hot rock as the reward goes down.

Do you think we'd stand a better chance of getting the pools to accept the fork if we go with Option 3, since the reward would stay the same until PoS kicks in?

My take is that if you reduce the block reward to 1 SLR there will be no incentive for any mining at all, other than just for the good of the coin.  This may well not, in the long term, be enough to keep the blockchain alive and safe.  It depends on the value of the coin as the mining / transaction fee reward must be enough to cover electricity and depreciation at least.  Just cutting back over such a relatively short time span may not let the coin value go up in any way proportional to the reducing supply.

However, having read all this : https://en.bitcoin.it/wiki/Proof_of_Stake     I now know a little more about what is going to happen.  But I am damned if I can get my head around the deeper consequences.

The only thought I can offer here is that perhaps the proposed inflation rate and 1 SLR block reward is perhaps too Draconian in the short term,  and the unexpected / unintended consequences may be difficult to manage.






A write-up or video about how to solo-mine SLR would be great! (Edit: Just noticed your post above... thank you!) There's no guarantee that the pools will go along with any of the options for forking the coin, since all of them involve either reducing the reward of mining or ending mining. We might have to rely on solo mining by faithful SolarCoin supporters to fork the coin.

[vipgelsi]

My choice is option 1

I can point two 7950's and a gridseed your way.

I am also set up for solo mining if needed.

[freebird]

My take is that if you reduce the block reward to 1 SLR there will be no incentive for any mining at all, other than just for the good of the coin.  This may well not, in the long term, be enough to keep the blockchain alive and safe.  It depends on the value of the coin as the mining / transaction fee reward must be enough to cover electricity and depreciation at least.  Just cutting back over such a relatively short time span may not let the coin value go up in any way proportional to the reducing supply.

However, having read all this : https://en.bitcoin.it/wiki/Proof_of_Stake     I now know a little more about what is going to happen.  But I am damned if I can get my head around the deeper consequences.

I agree with you that the price may not go up fast enough as the reward falls to 1 SLR to cover miners' electricity and other costs. This is why my own opinion is for a relatively quick transition to PoS, because it avoids the possible security problem of lack of sufficient mining to keep the blockchain alive and safe.

Regarding the deeper consequences of PoS, here are the ones that I think are most significant:

-- Using PoS as the method to secure the network and thus ending mining has a marketing benefit for SolarCoin, since mining consumes much more energy than staking and our coin is supposed to be about helping to create energy.

-- The low inflation rates typically associated with PoS coins (most of them are anywhere from 1 to a few percent a year) would help SolarCoin have a much better chance to rise in price, compared to the current inflation rate which is 4% per week(!). Changing to 1.5% per year would make the coin more attractive both to investors and to generators to claim their coins.

-- A 1.5% annual interest rate for staked wallets (like an interest-bearing savings account), plus probably a couple more percent inflation per year from generator grants, would mean that SolarCoin's total inflation rate would be in line with mainstream currencies like the US dollar.

-- PoS enables people to mint coins on smartphone-based wallets. Anyone in the world could use their Android or iPhone to create some SLR. This is more egalitarian compared to a mining-based system which favors only those who can afford mining rigs or hash contracts.

Given all of this, my bias is for either Option 1 or Option 3. If people are worried that reducing the block reward to 1 SLR per block while we're still relying on mining to secure the coin is too risky (even if it's only for a few days while the reward is in single digits), then we'd have to go with Option 3. If people think we can get through the risky part with the really low block rewards, relying on solo mining by dedicated SLR supporters, then we can go with Option 1.

Here's an "Option 1B" which would eliminate the most risky period of Option 1: Drop the block reward from 100 to 10 over 30 days (-3 per day) and then automatically go from 10 per block to PoS. A reward of 10 per block would only require a price of 3000 satoshis to keep the current hash rate. My gut feeling is that it won't be too hard to get back to that price (which we traded at for a while in March) if we cut the block reward significantly, but it may be a lot harder to go from 3000 to 30,000 satoshis, which would need to be the price to support a 1 SLR block reward. So if we eliminate the 3 days during which the reward goes from 10 to 1, we cut out an unnecessary risk to the network and we go straight from 10 SLR per block to PoS, at which time we no longer need to worry about the profitability concerns of miners and can set the coin's inflation rate at the 1.5% annually that we think is best for big-picture reasons.

Thoughts on the Option 1B idea?

Eric

[vipgelsi]

lol i want to change my choice to Option 1B     

[corather]

Option 1B does sound a lot better.

[passionsurf]

Since the ultimate goal is PoS, why favor Option 1 over Option 3?

I vote Option 3, unless for some reason people think Option 1 would lead to a larger price rise.

[freebird]

Since the ultimate goal is PoS, why favor Option 1 over Option 3?

I vote Option 3, unless for some reason people think Option 1 would lead to a larger price rise.

Option 1 or 1B would produce a couple million fewer coins into circulation, so the price might rise a bit faster and higher. But I don't think it would be a big difference. We might have 33 million coins in circulation when we switch to PoS instead of 35 million, something like that. About 5-10% fewer coins.

Option 3 might give us a somewhat better chance of persuading pools to switch to the fork. But I don't know enough about how pools operate to have an informed opinion about those prospects. Anyone want to weigh in that?

[passionsurf]

Since the ultimate goal is PoS, why favor Option 1 over Option 3?

I vote Option 3, unless for some reason people think Option 1 would lead to a larger price rise.

Option 1 or 1B would produce a couple million fewer coins into circulation, so the price might rise a bit faster and higher. But I don't think it would be a big difference. We might have 33 million coins in circulation when we switch to PoS instead of 35 million, something like that. About 5-10% fewer coins.

Option 3 might give us a somewhat better chance of persuading pools to switch to the fork. But I don't know enough about how pools operate to have an informed opinion about those prospects. Anyone want to weigh in that?

fewer coins = more valuable

[LuckyKey]

lol i want to change my choice to Option 1B     

+ 1

Option 1B   

[terciops]

Option 1B works for me.