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[BitterTea]

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.

So we should just take your word that everything is fine and dandy? Do you have any raw data to back up your claims?

Again, how do you know that the growth is benevolent (users), not malevolent (attackers)?

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[DeathAndTaxes]

16040 I believe.  624 blocks in last 69 minutes (6.6s avg block time).

[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

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.

First off, I dont care about the nitpickings and I want to thank you for all your hard work
The fact that you are using your time to build something rather than destroy something says a lot.
It did not dawn on me that the total number of users would increase by much or any. Thank you for stating what should have been obvious.
I hope things settle favorably in the end.

[CoinHunter]

Are you the new FED?!?!?!  LOL

No, though currently I hold the wallet for those CPF coins. If you read our forum you will see a non for profit organization is going to be created in a "fair country" to handle this fund going forward. Personally I don't want the stress of having to deal with handing out bounties, market measures and things like this. Along with the accusations you're skimming or a scammer. I understand why people say this and it's why I want a "constitution" and a NPO to take over. I'd rather just do some code for the project and not be involved in any leadership aspects of it.

If you think having a tiny bit (5%) of centralization like this fund is bad then that's fine, it's an opinion. People who don't mind spending a little bit in supporting a central organization who will protect their assets have SolidCoin, those who want wild west, no one does anything for anyone have things like BTC and so forth. We'll see what has greater efficiency I guess over the coming months.

Personally I am anti-bank, anti-current-system and generally want a world where most people make the decisions for themselves. So that's just where I'm coming from and why I'm working on SC.

[Bobnova]

What are the requirements that have to be met to be a trusted node?

[ThiagoCMC]

Are you the new FED?!?!?!  LOL

No, though currently I hold the wallet for those CPF coins. If you read our forum you will see a non for profit organization is going to be created in a "fair country" to handle this fund going forward. Personally I don't want the stress of having to deal with handing out bounties, market measures and things like this. Along with the accusations you're skimming or a scammer. I understand why people say this and it's why I want a "constitution" and a NPO to take over. I'd rather just do some code for the project and not be involved in any leadership aspects of it.

If you think having a tiny bit (5%) of centralization like this fund is bad then that's fine, it's an opinion. People who don't mind spending a little bit in supporting a central organization who will protect their assets have SolidCoin, those who want wild west, no one does anything for anyone have things like BTC and so forth. We'll see what has greater efficiency I guess over the coming months.

Sorry but, no centralization can be good. Look around you man!!!

Anyway, good luck for you!

I think anything that attacks our current monetary system is a awesome thing!

[DeathAndTaxes]

No, though currently I hold the wallet for those CPF coins.

10% of all coins generated go into your wallet.  Crypto-currencies are based on the concept of exchange without trust however there is nothing every user of solidcoin can do but TRUST that you will do the right thing.

Pure blind trust because if you don't there is no recourse, no checks & balances, no failsafe.

Centrally controlled currency without oversight which requires trust in major stakeholders.  Congrats you just (re)invented fiat currency.

[worldinacoin]

But one strange thing was that when the network just started and the difficulty was the least, I generate nothing until when the difficulty was about 400 then the coins start to appear.  I now have 5 block of coins.

[ThiagoCMC]

No, though currently I hold the wallet for those CPF coins.

10% of all coins generated go into your wallet.  Crypto-currencies are based on the concept of exchange without trust however there is nothing but all users of solid coin need to trust that you will do the right thing.

Pure blind trust because if you don't there is no recourse, no checks & balances, no failsafe.

Centrally controlled currency without oversight which requires trust in major stakeholders.  Congrats you just (re)invented fiat currency.

Exactly!! lol

[Remember remember the 5th of November]

But one strange thing was that when the network just started and the difficulty was the least, I generate nothing until when the difficulty was about 400 then the coins start to appear.  I now have 5 block of coins.

At the massively reduced difficulties it was a crap shoot on who got the blocks and had very little to do with real difficulty now that we are more in realistic realms of difficulty stales etc. will be dropping, you can additionally double check this behavior on the pools where you can see their stale rate has fallen off tremendously.

Are you by any chance inventing new words?

[CoinHunter]

No, though currently I hold the wallet for those CPF coins.

10% of all coins generated go into your wallet.  Crypto-currencies are based on the concept of exchange without trust however there is nothing but all users of solid coin need to trust that you will do the right thing.

Pure blind trust because if you don't there is no recourse, no checks & balances, no failsafe.

Centrally controlled currency without oversight which requires trust in major stakeholders.  Congrats you just (re)invented fiat currency.

Again, your analysis is flawed. 5% is created out of "nowhere" like a block generate is. 5% is taken from these "Trusted nodes". If 5% is taken from a trusted node it's not "created" it's being re-spent.

You are right that in some ways it comes down to trust, trust that the 5% will be spent appropriately. If you can't trust me (or eventually the NPO) to spend that 5% in ways which strengthen SolidCoin then you shouldn't support or invest in it. The way I see it is it's better to try to have that central organization as it offers so many benefits than just saying "but you have to trust them so let's not do it". Not every person walking on the planet is an evil person looking to scam you. Some want better things for this world.

I want SolidCoin to be able to hunt down and prosecute criminals. I want SolidCoin to be able to stabilize price so that the world can use it as a currency, I want SolidCoin to protect itself against governments and banks by using their own systems against them.

If you can't see that a completely decentralized system leads to a case of "well I don't really know them so f%ck them" then you perhaps don't understand human psychology as well as some.

[johnj]

If you can't trust me (or eventually the NPO) to spend that 5% in ways which strengthen SolidCoin then you shouldn't support or invest in it.

This is the soundest advice I've ever heard CH give.

[CoinHunter]

If you can't trust me (or eventually the NPO) to spend that 5% in ways which strengthen SolidCoin then you shouldn't support or invest in it.

This is the soundest advice I've ever heard CH give.

It's not the first time I've given it either. You can't expect to have values that everyone shares, I realize this, and I don't want to convert anyone that doesn't see why the decisions made for SolidCoin are worthwhile. Up to each person to educate themselves and decide without people pushing them into it. Don't you agree?

[DeathAndTaxes]

You are right that in some ways it comes down to trust, trust that the 5% will be spent appropriately. If you can't trust me (or eventually the NPO) to spend that 5% in ways which strengthen SolidCoin then you shouldn't support or invest in it. The way I see it is it's better to try to have that central organization as it offers so many benefits than just saying "but you have to trust them so let's not do it". Not every person walking on the planet is an evil person looking to scam you. Some want better things for this world.

Meh don't couple trust of you with trust of valid NPO.   That is a logical fallacy. The NPO doesn't exist yet.  If you defraud the community it could occur prior to any NPO taking over thus trust isn't in some mythical future NPO it is trust in YOU.

Today the wallets are completely under your control and they will hold 10% of all SC minted.

10% of all SC minted in the world becomes your personal wealth without you spending your own hardware and electricity to produce it.

SC2 is backed only by your word, trust in a central authority to engage in monetary policy that would be beneficial to the community (as determined solely by you).

Maybe you will feel the need to "control" the SC economy.  You could destroy coins from the wallets or sell them on the exchange thus engaging in monetary policy similar to the Fed.  It isn't like you earned those coins so you aren't constrained by your personal finances like a mere speculator.   You have just made yourself the central back and engaged in a weird sort of fraction reserve minting (ever coin minted produces another fractional coin under your direct control).

As I said congratulation you just reinvention of fiat currency.

SC2 is not a crypto-currency.  It is failed 20th century thinking in a shiny new digital shell.

[CoinHunter]

You are right that in some ways it comes down to trust, trust that the 5% will be spent appropriately. If you can't trust me (or eventually the NPO) to spend that 5% in ways which strengthen SolidCoin then you shouldn't support or invest in it. The way I see it is it's better to try to have that central organization as it offers so many benefits than just saying "but you have to trust them so let's not do it". Not every person walking on the planet is an evil person looking to scam you. Some want better things for this world.

Meh don't couple trust of you with trust of valid NPO.  The NPO doesn't exist yet.  If you defraud the community it could occur prior to any NPO taking over.  

Today the wallets are completely under your control and they will hold 10% of all SC minted.

10% of all SC minted in the world becomes your personal wealth without you spending your own hardware and electricity to produce it.

SC2 is backed only by your word, trust in a central authority to engage in monetary policy that would be beneficial to the community (as determined solely by you).

As I said congratulation you just reinvention of fiat currency.

Seriously, are you that brain dead? It is 5% of SC minted. If you think I'm the type of person to defraud thousands of people whilst I have assets and a family then it shows you don't know me and are making stupid decisions. Coupled with your inability to tell 10% from 5% it completes the puzzle doesn't it?

[BitterTea]

Seriously, are you that brain dead? It is 5% of SC minted. If you think I'm the type of person to defraud thousands of people whilst I have assets and a family then it shows you don't know me and are making stupid decisions. Coupled with your inability to tell 10% from 5% it completes the puzzle doesn't it?

This would all be a lot simpler if you released code, you know. Can you blame us for our ignorance of SC's workings, when the only information we have is that which you have given us?

[ThiagoCMC]

Seriously, are you that brain dead? It is 5% of SC minted. If you think I'm the type of person to defraud thousands of people whilst I have assets and a family then it shows you don't know me and are making stupid decisions. Coupled with your inability to tell 10% from 5% it completes the puzzle doesn't it?

This would all be a lot simpler if you released code, you know. Can you blame us for our ignorance of SC, when the only information we have is that which you have given us?

Yeah CH... RELEASE THE CODE!! RELEASE THE CODE!! RELEASE THE CODE!! RELEASE THE CODE!!

RELEASE THE CODE!! RELEASE THE CODE!!

RELEASE THE CODE!!
RELEASE THE CODE!!

What you afraid of?!?!

RELEASE THE CODE!! RELEASE THE CODE!!

[johnj]

Up to each person to educate themselves and decide without people pushing them into it. Don't you agree?

Hard to 'educate themselves' when the sole programmer hasn't released the source/documentation.

Also, funny, this coming from the same guy who paid spammers to spam an article written solely to deceive.

Also, care to address this?:



Difficulty goes up, but now there are more invalid blocks?

Certainly you aren't still claiming that SC has continued to grow exponentially since launch?  I mean, there are only certain number of people active in mining cryptocurrencies, much less alt-chains.

---NONE OF THAT ADDS UP

Occam's razor says its more likely you fucked up your code than SC is experiencing unprecedented popularity.

[DeathAndTaxes]

Seriously, are you that brain dead? It is 5% of SC minted. If you think I'm the type of person to defraud thousands of people whilst I have assets and a family then it shows you don't know me and are making stupid decisions. Coupled with your inability to tell 10% from 5% it completes the puzzle doesn't it?

It is 10%.  Sad you can't understand your own code.

Per your description.
Your wallet is paid 5% from by the trusted nodes.
Your wallet is paid another 5% minted out of thin air.

Thus .... drumroll ... 5% + 5%  = 10% of total coins minted end up in your personally and irreversible wallet.

If you think I'm the type of person to defraud thousands of people whilst I have assets and a family then it shows you don't know me and are making stupid decisions.

That isn't the point.  The point is it requires trust in a central authority.  If the central authority is flawless it doesn't negate the need for trust in a central authority.  

If the Fed does a good job then the Fed isn't bad right?  Wrong I say.  Having the Fed (even doing a good job) requires trust in that central authority.  They may be doing good today but won't in the future.  The issue is trust not current performance.

Lastly having a family (and assets) is hardly a prohibition against fraud.  Lots of family man, asset owning fraudsters in jail (and more not in jail).  The point isn't that you WILL commit fraud (maybe you won't) but rather you have developed a system which requires absolute trust in a single fallible entity.  Sometimes people engage in fraud even when that wasn't the initial plan.  If you lost your job and your family was facing eviction and unable to put food on the table you would sacrifice them for the good of the SC2 community?  Or given you have complete and unlimited access to 10% of all SC mined maybe you dip into that fund for the sake of your family?

Crypto-currency shouldn't rely on trusting a central authority no matter how good the intentions of that authority.

[Sannyasi]

wow- this thread requires popcorn and soda.... time to run to the store before i finish reading up to this post..... and after..... this is what i call useful entertainment