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

[freebird]

What about the 1440 Block Difficulty Adjustment? Any plans to change that?

This is ridiculous, once a multipool hit this coin it will be stuck in high diff forever.

If the difficulty goes up, wouldn't that make the price go up because miners will get fewer coins for the amount of electricity they're using to mine them, so they wouldn't be willing to sell for as low?

Are there any problems associated with having a high difficulty, and if so, what are they? Just wondering. Thanks.

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[pikuchato]

What about the 1440 Block Difficulty Adjustment? Any plans to change that?

This is ridiculous, once a multipool hit this coin it will be stuck in high diff forever.

If the difficulty goes up, wouldn't that make the price go up because miners will get fewer coins for the amount of electricity they're using to mine them, so they wouldn't be willing to sell for as low?

Are there any problems associated with having a high difficulty, and if so, what are they? Just wondering. Thanks.

The multipool will start to mine 1 block after Difficulty Adjustment and then stay for 1440 blocks mining with low difficulty,
After 1440 blocks the difficulty will sky rise because the huge hash power of the multipool so the multipool will leave.

The nethash will drop but the difficulty will remain high, blocks will take a lot of time to be solved and the chain might even get stuck (like 1 block each 5 hrs and so).
When the dedicated SLR miners will finally solve all 1440 blocks and a Difficulty Adjustment take place, the multipool come again and start this process again.

That is exactly what happened to RPC right before the first update.

[freebird]

What about the 1440 Block Difficulty Adjustment? Any plans to change that?

This is ridiculous, once a multipool hit this coin it will be stuck in high diff forever.

If the difficulty goes up, wouldn't that make the price go up because miners will get fewer coins for the amount of electricity they're using to mine them, so they wouldn't be willing to sell for as low?

Are there any problems associated with having a high difficulty, and if so, what are they? Just wondering. Thanks.

The multipool will start to mine 1 block after Difficulty Adjustment and then stay for 1440 blocks mining with low difficulty,
After 1440 blocks the difficulty will sky rise because the huge hash power of the multipool so the multipool will leave.

The nethash will drop but the difficulty will remain high, blocks will take a lot of time to be solved and the chain might even get stuck (like 1 block each 5 hrs and so).
When the dedicated SLR miners will finally solve all 1440 blocks and a Difficulty Adjustment take place, the multipool come again and start this process again.

That is exactly what happened to RPC right before the first update.

Thanks for the explanation. I will forward this to the dev.

[mazuma]

that is exactly what is happened right now. Seeerhaad is renting rigs 500 meghash , mining at this low difficulty, then when difficulty hits 10 as projected, he will hope off, leaving rest of the dedicated miners with bullshit low coins, that dont justify mining. I cant believe the so called developer hasnt implemented a fix for this yet.

[LuckyKey]

Ok, so I logged on to MintPal to cast my votes and they changed it!!! On the plus side, we are now showing at 23rd spot, up one. On the down side, it's just one vote an hour and it won't let me vote because it says I need more trade history. Does anyone know how much trade history you actually need to be able to vote???

They also increased the cost, 1 vote now costs 0.001 BTC. We'd need 16,365 votes to get to #1 will cost over 16 bitcoins but with the other changes, the cost hasn't really changed to buy your way in.

Still, I can't vote without a larger trade history. Does anyone know more about this?

If you're mining this coin now, the last thing you want in Mintpal!  Being on Mintpal does not warrant a higher price.  It just gives a vehicle for multipool pump and dumpers to make $ by flogging the market with coins.  Mintpal does not bring the demand to warrant the supply that multipools will thump onto the market. If multipools start mining and dumping a million solar coins a day, the price will drop fast…and then they will move on.

The best scenario for us solarcoin miners is to stay under the radar, at least until the 1st half (50 million) coins are mined, when the block reward is cut in half….we're 1/3 of the way there. Unfortunately, I don't think that will happen.

If multipools do come, and mine out the coins quickly, which could happen, as the 500 Mh/s User mining now (which could be a multipool) is generating 1/4 million solarcoins a day, it would provide a window for a rich investor to purchase a very large chunk of the available solarcoins.  This scenario would also change the mining projections posted on the solarcoin web site, where it indicates 2014 would see 50% of the coins mined, and the next 25% mined in 2015; as multipool mining would push past the 525k block pretty fast (already at block 175k).

[vipgelsi]

Ok, so I logged on to MintPal to cast my votes and they changed it!!! On the plus side, we are now showing at 23rd spot, up one. On the down side, it's just one vote an hour and it won't let me vote because it says I need more trade history. Does anyone know how much trade history you actually need to be able to vote???

They also increased the cost, 1 vote now costs 0.001 BTC. We'd need 16,365 votes to get to #1 will cost over 16 bitcoins but with the other changes, the cost hasn't really changed to buy your way in.

Still, I can't vote without a larger trade history. Does anyone know more about this?

If you're mining this coin now, the last thing you want in Mintpal!  Being on Mintpal does not warrant a higher price.  It just gives a vehicle for multipool pump and dumpers to make $ by flogging the market with coins.  Mintpal does not bring the demand to warrant the supply that multipools will thump onto the market. If multipools start mining and dumping a million solar coins a day, the price will drop fast…and then they will move on.

The best scenario for us solarcoin miners is to stay under the radar, at least until the 1st half (50 million) coins are mined, when the block reward is cut in half….we're 1/3 of the way there. Unfortunately, I don't think that will happen.

If multipools do come, and mine out the coins quickly, which could happen, as the 500 Mh/s User mining now (which could be a multipool) is generating 1/4 million solarcoins a day, it would provide a window for a rich investor to purchase a very large chunk of the available solarcoins.  This scenario would also change the mining projections posted on the solarcoin web site, where it indicates 2014 would see 50% of the coins mined, and the next 25% mined in 2015; as multipool mining would push past the 525k block pretty fast (already at block 175k).

Correct if you are mining like me keep it under the radar for the time being.

[drizzle2405]

One thing you can say about Solarcoin is that we are becoming recognized through the media.  Unfortunately we are not being recognized through the cryptoworld and becoming popular, for now.  This will all eventually turn around and EXPLODE as the Solarcoin initiative takes off.

Most coins do it the opposite way...  Get popular through the cryptoworld, then the media.  EX. Dogecoin...  We're just doing it the other way around.  Patience will pay off in the end!!!

One of the founders told me that this was actually a deliberate strategy for SolarCoin. I'm guessing they wanted to give people who believe in the renewable energy movement an opportunity to accumulate at low prices, instead of all the coins immediately going to the pump-and-dump crypto trader crowd.

But when the pumpers do decide to hop on board this train, it will explode so fast that most crypto people will be like, "SolarCoin? What the hell? I've never even heard of that one and now it's 10x the price it was 2 days ago?" That's the kind of thing that could happen with this coin. We just have no idea when it will. Next month? In 6 months? Next year? Who knows when, but the fact of the matter is that it's currently very undervalued precisely because almost nobody in the crypto trading community cares about it -- yet.

I'm glad they did that deliberately the opposite way.  Let the general community know what the initiative is all about, then the crypto crowd will follow.  Yea the day it explodes is going to be awesome because everyone will be caught with their pants down and we will be holding and laughing all the way.

[Vexatious]

There are hardly any offers in there on AllCrypt... A market buy with 3 or 4 bitcoins would move the price up dramatically... 

[vipgelsi]

There are hardly any offers in there on AllCrypt... A market buy with 3 or 4 bitcoins would move the price up dramatically... 

Yup any average joe can skyrocket this coin no whale needed.

[eddy937]

There are hardly any offers in there on AllCrypt... A market buy with 3 or 4 bitcoins would move the price up dramatically... 

AllCrypt seems a very low volume exchange for most of the coins it lists. I assume it's a newish exchange and people have not built up enough trust to do big trades on it yet. That's a pity because it looks professional and well run.

[pikuchato]

There are hardly any offers in there on AllCrypt... A market buy with 3 or 4 bitcoins would move the price up dramatically... 

AllCrypt seems a very low volume exchange for most of the coins it lists. I assume it's a newish exchange and people have not built up enough trust to do big trades on it yet. That's a pity because it looks professional and well run.

https://poloniex.com/exchange/ltc_slr
https://www.bittrex.com/Market/Index?MarketName=BTC-SLR

[LuckyKey]

There are hardly any offers in there on AllCrypt... A market buy with 3 or 4 bitcoins would move the price up dramatically... 

AllCrypt seems a very low volume exchange for most of the coins it lists. I assume it's a newish exchange and people have not built up enough trust to do big trades on it yet. That's a pity because it looks professional and well run.

Low volume is great! These coins will be worth plenty in a year or two. In the meantime, shhh, mine and/or accumulate quietly. Let the word get out after we have more coins ;-)

[Vexatious]

Thinking out loud here but it seems to me that if you look at the supply/demand equation over the short term (say 2-3 years), the supply of SLR is incredibly tight as it is coming almost exclusively from mining. Many of the current holders aren't about to sell anytime soon. My small circle have put less than $100 each into this. But what happens if people start to come along who want to invest $1000 or more? Given that our exposure is gaining ground in circles outside of cryptoland where people have that kind of money and are passionate about the environment and energy, it's not outside the realm of possibility that the price could rise dramatically over the short term before settling down to $20-$30 in four to five years as the granting process takes over. And that is most certainly an incentive to adopt solar in the short term since the only viable method left for getting SolarCoins will be to generate solar and claim them. Mining them won't really be an option given the decay/difficulty and if the price spikes early, the incentive will be to earn them rather than buy them.

I'm really curious to see how this all plays out over the next 2-3 years. But we could be looking at a price chart over the next 4-5 years that more resembles viral growth than the standard growth charts most of us are used to looking at. After that, the price would settle into the proper behavioural pattern associated with a currency backed by electricity. I've been scouring the internet looking for something similar to what could happen and this is the best I've come across, just to give a graphical representation of what I'm attempting to describe.



I'd love to hear what you all think about this... Am I cracked???  Or could this actually happen? And if it does happen, is it a good thing or a bad thing for the SolarCoin Foundation mission overall? Obviously it would be a good thing for all of us early investors but I'm more concerned with the impact on the overall goals and mission of the project itself.

[Vexatious]

Hold on, hold on... If the price does spike early due to limited supply, that's what will trigger people who already generate solar to start submitting their claims in earnest which will start adding to the supply (coins in circulation). That will keep the price in check from going too high in the short term because many of those claimants will be more inclined to sell or be inclined to accept SLR as payment and get transactions under way.

So exciting to think about all of this! I think we are about to witness something special and unique with SolarCoin.  Many books will be written about it in the future. I might start taking notes now... LOL

[freebird]

Hold on, hold on... If the price does spike early due to limited supply, that's what will trigger people who already generate solar to start submitting their claims in earnest which will start adding to the supply (coins in circulation). That will keep the price in check from going too high in the short term because many of those claimants will be more inclined to sell or be inclined to accept SLR as payment and get transactions under way.

I agree. I think this is one of the excellent features of §SLR from an economic perspective, that the price will tend to be self-regulating after it reaches a certain level that's high enough to create lots of interest among generators. This will help it to be more useful and stable as a currency, rather than only as an investment.

I expect we'll see 5 or 10 cents per §SLR by the end of this year, and at least $1 by the end of next year. The growth curve could be very steep for the next couple of years, because of (1) limited supply (declining mining rewards, not much generator granting yet); (2) the crypto community eventually rediscovering this coin; (3) big investors outside the crypto community getting in when volume increases and it will become possible to take large positions efficiently.

Beyond the $1 level, I'm not going to make any predictions, but the target $20-30 level could potentially be reached after a few more years. To do so, §SLR would have to surpass Bitcoin's market cap, but I think that's possible in the long term, after major players in the solar energy industry start backing this coin and integrating it with metering systems, etc.

[corather]

There's a 5% per year limit on release of coins also, that is 5% of current circulation. But a lot of this depends on adoption and there's a few kinks to work out like a faithful way to meter production but grid ties will make it difficult to fake numbers however because who would want to pay more to the power company just to pick up a few Solarcoins? That is to say when the power company in your area figures out there's been a sudden decrease in watts usage from your address they'll come investigating. This is the main objection to many of the project. They feel trust is an issue when making claims, but they just don't understand the process. You can't just arbitrarily send in a claim as your solar production is tied to your house watt meter and there's many federal regulations in place to keep tampering to a minimum, at least in the US. That is to say the feds enforce this with guns and fines and jail time.

[Epiphany]

Not to interrupt the conversation, but in the interests of full disclosure Vexatious = Epiphany. I've decided to be more consistent with my profile naming between here and the SLR forums. Anyone with half a brain would have known I was one and the same already  , but I've decided to move on from my "gaming" name to this one on these boards.

So, that's that. Please continue... 

[corather]

Not to interrupt the conversation, but in the interests of full disclosure Vexatious = Epiphany. I've decided to be more consistent with my profile naming between here and the SLR forums. Anyone with half a brain would have known I was one and the same already  , but I've decided to move on from my "gaming" name to this one on these boards.

So, that's that. Please continue... 

Oh you such a "newbie" hah!

[corather]

Not to interrupt the conversation, but in the interests of full disclosure Vexatious = Epiphany. I've decided to be more consistent with my profile naming between here and the SLR forums. Anyone with half a brain would have known I was one and the same already  , but I've decided to move on from my "gaming" name to this one on these boards.

So, that's that. Please continue... 

Odd, this is my gaming handle. One of them anyway.

[vipgelsi]

Solarcoin = sleeping giant.