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Author Topic: SolidCoin going down to ~7 SC per block  (Read 1251 times)
makomk
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October 26, 2011, 09:43:21 AM
 #1

Since it appears a lot of people here don't follow IRC, and I'm guessing many don't follow the SolidCoin forums either:
Quote from: RealSolid
Sometime between block 45000 and 50000 (still to be decided) SolidCoin will be moving from a 32SC base coin value to 5SC .

The current inflation limiter decreased by 1 the base value every million blocks. So at block 1000000, base_value would be 31, and so on, until it reached a base_value of 4. The current code is below.

The new method will be exactly like below except for three changes, base_value will be 5, every million blocks it will drop by 0.1 , and the minimum value will be 1. So at block 1000000 it will be 4.9 for base_value.

The reason for this is because the current inflation is way too high for the amount of miners mining (somewhere between 1200 to 2000 people mining). At 5SC for the base each SolidCoin will cost somewhere between 10c to 30c to produce, thereby adding a "minimum" cost for each coin which is at a fairly nice base. Anyone selling below that price will be selling below cost and therefor running at a loss.

Quote from: RealSolid
Another thing to remember is that with the difficulty modifier in place, it's not just "each block is worth 5SC" now. For each 100K of difficulty another 5SC is added. So at our current difficulty of 40000 an extra 40% of 5SC would be added, a block would be worth 7SC. With 5 blocks every 10 minutes, that means a total of 35SC would be generated in 10 minutes vs Bitcoins ideal of 50BTC. This is at current difficulty. As difficulty grows and we get more miners the amount of SolidCoins generated per hour will match that growth, whilst still maintaining a base cost of 10-30c of electricity to generate it.

The nice thing about SolidCoin is that in order to enforce a surprise change like this, he only has to get all the trusted nodes to upgrade and it then becomes impossible for anyone else to continue using the old rules.

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wobber
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October 26, 2011, 10:17:42 AM
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Experimentally Solidcoin is an interesting phenomena. People mine and buy in the snowball effect and the guy who let the snowball away owns the snow, the slope and gets to change temperature.

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October 26, 2011, 10:28:58 AM
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RealSolid did a very good job obliterating the decentralized part of Bitcoin, the main reason for its inception, dunno if that's an accomplishment or not.

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October 26, 2011, 11:20:14 AM
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Lame attempt to add value to his 12 million or so SolidCoin wallet.
Next topic please..

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October 26, 2011, 11:37:20 AM
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Lame attempt to add value to his 12 million or so SolidCoin wallet.
Next topic please..

12 millions premined??

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Nachtwind
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October 26, 2011, 01:20:45 PM
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yes - but shared between his "trusted nodes" whoever that is.. might be his 10 fingers and a nose plus one of his toes..
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October 26, 2011, 01:25:41 PM
 #7

Experimentally Solidcoin is an interesting phenomena. People mine and buy in the snowball effect and the guy who let the snowball away owns the snow, the slope and gets to change temperature.
lol,  Grin

Nice analogy, I think he has turned the heat up too much so it melts all away...

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