delete

[atticus]

Does your math account for the "compensation million" ?

The worst part is, this BTC forum is the first (and only) place where I've heard about premining in SC 2.0. AFAIK no visible communication has been made about this on the SC forums...... The only positive thing is that I mined in SC 2 in 6 hours on crappy hadware about half as much as I mined in SC 1 in 2 weeks on better hardware. Can't wait to try Litecoin...

How is that a positive?  It essentially means any wealth (store of value) holders of SC 1.0 had has been wiped out by rampant monetary expansion.  Their coins which took significant time and electrical energy are worth next to nothing.   Which in turn doesn't bode well for the value of the "easy" coins.  If you made more in 6 hours on crappy hardware how many coins do you think someone w/ 400 EC2 instances made?

Still haven't seen any proof that anyone mined this with 400 EC2 instances.  ~ 250k coins have been generated since launch. Looking at the number of coins I've mined with a couple of Phenom X6's, I seriously doubt any one person had that kind of hash power. I would have earned next to nothing if that were true.

The fact that SC2 has no upper limit on coin generation should concern SC1 owners more than a few hundred thousand coins mined.

[1714680020]

1714680020

[Raoul Duke]

If you made more in 6 hours on crappy hardware how many coins do you think someone w/ 400 EC2 instances made?

NONE!

Tits or GTFO.. err... i mean, pics or it didn't happen  

[btc-e.com]

Start trading

https://btc-e.com/sc_exchanger SC / BTC

https://btc-e.com/sc_usd_exchanger SC / USD

[ThiagoCMC]

Start trading

https://btc-e.com/sc_exchanger SC / BTC

https://btc-e.com/sc_usd_exchanger SC / USD

Reeeally?!?!?! LOL

[btc-e.com]

Start trading SolidCoin 2

https://btc-e.com/sc_exchanger SC / BTC

https://btc-e.com/sc_usd_exchanger SC / USD

[Raoul Duke]

Start trading

https://btc-e.com/sc_exchanger SC / BTC

https://btc-e.com/sc_usd_exchanger SC / USD

Reeeally?!?!?! LOL

You know something: Your snarky remarks would bear a lot more value if you didn't have the venus project on your sig...

Venus Project? Reeeally?!?!?! LOL

[ThiagoCMC]

Start trading

https://btc-e.com/sc_exchanger SC / BTC

https://btc-e.com/sc_usd_exchanger SC / USD

Reeeally?!?!?! LOL

You know something: Your snarky remarks would bear a lot more value if you didn't have the venus project on your sig...

Venus Project? Reeeally?!?!?! LOL

SURE! A Resource-Based Economy proposed by The Venus Project is far more efficient than "the economy" wich we have today... Don't you see it?!

Close to a RBE, even the Bitcoin is pure crap...

But close to a fiat currency (dollar, euro, etc), Bitcoins are AWESOME!

So, I see the Bitcoin as a transition to a RBE.

That's because I'm here today.

[CoinHunter]

Everyone can look at the blocks using the new code in SolidCoin v2.0. It features an internal blockexplorer (GUI version coming soon).

Run Solidcoin then type on cmdline "Solidcoin sc_getblockbynumber <blocknumber>"

Eh presto, all the information. Surprised our little reverse engineerer, hacker, apple employee and google deindexer in BTXexpress didn't tell everyone about it? Now everyone can pretend they know what it means. And some more information.  :-

http://solidcointalk.org/topic/265-about-1-million-sc-mined-public-at-the-first-official-day/page__view__findpost__p__2644

There's only been about 220K coins generated since going live. To be honest I didn't expect us to reach 1200+ nodes within 18 hours of operation, seems SolidCoin is outpacing my own expectations. With hindsight I would have started the chain at a higher difficulty. I should have time tomorrow to upload the new algorithm to the website, so stay tuned to our forum or site if you're interested.

Believe what trolls/fearmongers say at your own risk I guess, they're only stopping you from trying the next biggest thing.

[johnj]

they're only stopping you from trying the next biggest thing.

I thought SC 1.0 was 'the next big thing'.

Now it's SC 2.0.  Or maybe youre just talking about your already massive blockchain.

I can't wait 3.0... it's the next big thing, dontcha know!

[WiseOldOwl]

I have to say it kinda sucks how many solidcoins are being generated,
I bought in early and now they are being given away...
I like SC, but that kinda sux is all

[johnj]

At ~50 diff, blk generation was ~3s/blk.
At ~100 diff, roughly the same.

Now it's at 1500 diff @ 6s/blk

And this is supposed to be 'normal'?

[DeathAndTaxes]

So it looks like the "trusted nodes" are awarded 3.2 coins for a difficulty 1 hash.

So far in 14 hours that is 24K coins.

Who are the trusted nodes?
Why are they awarded coins for such a computationally easy block?

Code:

{
    "hash" : "00000cba04d6531626328dc5c602d537198bf06fbdeefc8928b291c6a65dd786",
    "version" : 1,
    "prev_block" : "000000097f6c9e2946ae31319b47ecfde6324e5f0ea92951761baf6fcac7f552",
    "mrkl_root" : "d9a9ed58a027522c1be38bc18dbd5be075c710c86df4c1f02770c505dd970363",
    "time" : 1318344731,
    "bits" : 511705087,
    "blocknum" : 15908,
    "nonce1" : 2061,
    "nonce2" : 28764,
    "nonce3" : 0,
    "nonce4" : 0,
    "n_tx" : 2,
    "size" : 465,
    "tx" : [
        {
            "hash" : "79fcfa7d323904ace5e0d0470e63f771ef9fcf266904376a300365ffca383818",
            "version" : 1,
            "lock_time" : 0,
            "size" : 135,
            "in" : [
                {
                    "prev_out" : {
                        "hash" : "0000000000000000000000000000000000000000000000000000000000000000",
                        "n" : 4294967295
                    },
                    "coinbase" : "044350463002243e"
                }
            ],
            "out" : [
                {
                    "value" : 3.20020000,
                    "scriptPubKey" : "04180c4694b407675b133fa4d67c2640d8e8e7345e4e14b6c45fa632c1480186e3a9e6d644dfceee5262e7455f88cdb823e4f4b2984f7878f9fa62fb2489df6c60 OP_CHECKSIG"
                }
            ]
        },
       {
            "hash" : "4cc10f07736f7e1e2635e09aec70f3169cb6c495efe618d1f34c9befc50671c8",
            "version" : 1,
            "lock_time" : 0,
            "size" : 201,
            "in" : [
                {
                    "prev_out" : {
                        "hash" : "968ccce3283a2377518d54d7fffe09fd1aedd22226d0bca62fe01c709c59d5ea",
                        "n" : 0
                    },
                    "scriptSig" : "3046022100e6bfae08d185fa9910b4d51c2a6ad8272d6bbc38203ee3a30fb2ddc67970d4d6022100a1df3a487d5e76ffcd2bac99c9db9851cc78f61a632018a054717d8e3d01b87401"
                }
            ],
            "out" : [
                {
                    "value" : 1188151.25950000,
                    "scriptPubKey" : "0484e16a91b5d30f474856e5b6093fb43f0223a4013695c0ad2b04a2897b6137cd9fff4324821630a20db1a4c201a40e0fc98738cd73c0bc4cc969650abb6298ac OP_CHECKSIG"
                }
            ]
        }
    ],
    "mrkl_tree" : [
        "79fcfa7d323904ace5e0d0470e63f771ef9fcf266904376a300365ffca383818",
        "4cc10f07736f7e1e2635e09aec70f3169cb6c495efe618d1f34c9befc50671c8",
        "d9a9ed58a027522c1be38bc18dbd5be075c710c86df4c1f02770c505dd970363"
    ]
}

With increasing difficulty the "advantage" the trusted nodes gain increases.

For example right now difficulty is 1500 so regular nodes need to work 1500x harder to gain 10x the reward.  A 150x disadvantage.
However block times are still 6s so difficulty should be 30x higher.  When difficulty is 450,000 regular nodes will need to work 450,000 times harder to gain 10x the reward a 45,000x disadvantage.

Who/what determines who gets the highly advantageous position of being a trusted node?
Why are they overcompensated for their workload?
What happens to the network if the trusted nodes fail (DDOS)?

[CoinHunter]

I have to say it kinda sucks how many solidcoins are being generated,
I bought in early and now they are being given away...
I like SC, but that kinda sux is all

Why does it suck "so many" coins are generated and a few thousand more people are now into SolidCoin? If you think it's bad sell them. Only time will tell what decision is right when it comes to which currency to support or which investment paid off.

Do you know how many coins were "given away" when SC1 started to people like you? Do you know why it has had the fastest node growth of any chain? There are reasons for these things and if you can't see them then maybe you should educate yourself like others are doing.

[BitterTea]

There's only been about 220K coins generated since going live.

Can you explain the math that generates this answer?

To be honest I didn't expect us to reach 1200+ nodes within 18 hours of operation, seems SolidCoin is outpacing my own expectations.

Where are you getting these node counts from? How do you know that some of those nodes aren't attacker(s)?

With hindsight I would have started the chain at a higher difficulty. I should have time tomorrow to upload the new algorithm to the website, so stay tuned to our forum or site if you're interested.

What new algorithm? Are you saying that the difficulty adjustment algorithm is inadequate? You're going to fork your block chain by changing it?

I don't normally use image macros, but this totally reeks of

[CoinHunter]

So it looks like the "trusted nodes" are awarded 3.2 coins for a difficulty 1 hash.

So far in 14 hours that is 24K coins.

Who are the trusted nodes?
Why are they awarded coins for such a computationally easy block?

That is poor analysis. The CPF is awarded those coins (5% created, 5% from node). The "Trusted nodes" lose money supporting the network and anyone can become a trusted node provided they match the network requirements. It's pure decentralized trust. If it sounds interesting to you then you'll have to wait until tomorrow when all will be revealed.

[BitterTea]

At ~50 diff, blk generation was ~3s/blk.
At ~100 diff, roughly the same.

Now it's at 1500 diff @ 6s/blk

And this is supposed to be 'normal'?

this

Why aren't difficulty increases actually making it much more difficult?

[ThiagoCMC]

I have to say it kinda sucks how many solidcoins are being generated,
I bought in early and now they are being given away...
I like SC, but that kinda sux is all

Why does it suck "so many" coins are generated and a few thousand more people are now into SolidCoin? If you think it's bad sell them. Only time will tell what decision is right when it comes to which currency to support or which investment paid off.

Do you know how many coins were "given away" when SC1 started to people like you? Do you know why it has had the fastest node growth of any chain? There are reasons for these things and if you can't see them then maybe you should educate yourself like others are doing.

Are you the new FED?!?!?!  LOL

[Remember remember the 5th of November]

And what is the current block count?

[Bobnova]

So it looks like the "trusted nodes" are awarded 3.2 coins for a difficulty 1 hash.

So far in 14 hours that is 24K coins.

Who are the trusted nodes?
Why are they awarded coins for such a computationally easy block?

That is poor analysis. The CPF is awarded those coins (5% created, 5% from node). The "Trusted nodes" lose money supporting the network and anyone can become a trusted node provided they match the network requirements. It's pure decentralized trust. If it sounds interesting to you then you'll have to wait until tomorrow when all will be revealed.

What are the requirements?

Also, I love the link saying 1 million in the url and you saying 220k.

[CoinHunter]

At ~50 diff, blk generation was ~3s/blk.
At ~100 diff, roughly the same.

Now it's at 1500 diff @ 6s/blk

And this is supposed to be 'normal'?

this

Why aren't difficulty increases actually making it much more difficult?

Does this really need explaining? The SC2.0 network is currently _growing_, like I said it's outpaced all other chains in growth and we've seen the worst block conditions for any cryptochain to this point. The SC2.0 network has handled it fine.

If a network is growing then block speed at increasing diffs will also grow. It's simple maths. I expect it to hit 50000 -> 100000 diff before we get close to the maximum desired blocktime in 120s, at current speeds. If we see another 1000 people join today then who knows.