[ANN] Sound Money Coin (SOV). A new King is in town.

[BTC_Panther]

It seems like that is already common with over time prices will continue to increase each year and may not be imagined for the next few years.

The price of this coin will grow despite the general trend of the market. Because the project has just started and the price is based on the cost of mining the coin. And the cost multiply increases literally every day.

[Levin9Mak]

It seems like that is already common with over time prices will continue to increase each year and may not be imagined for the next few years.

Despite the fact that the mining of the SOV coin has significantly risen in price over the past few days, I still managed to mine some coins. I do not plan to sell. I hope that in a year I will see a price tag on this SOV coin of several hundred dollars at least.

[opsofsile1983]

If we take into account how much mining costs today, it seems to me that it is easier and cheaper to buy SOV on an exchange, while the prices there are not very expensive.

[Tom786Ivanova]

If we take into account how much mining costs today, it seems to me that it is easier and cheaper to buy SOV on an exchange, while the prices there are not very expensive.

And what SoundMoneyCoin is already trading on the exchange? The coin appeared just a few days ago.

[mv1986]

Not only should they be build on promising ideas, but they should result in value creating products for the customers.

Without a good idea, no project will be popular among its users, advertising is by itself, but you need to follow everything, but rather how the project develops and in which direction the team will move

An idea doesn't have users, a product does have users. You can have as many ideas as you want and no users, or you can have one single product and as many users as there potentially are.

[ZloiRediska]

I noticed that coin mining was cheaper today. Sometimes you can get a SOV coin setting gwei 1, 2 or 3:

[ZloiRediska]

On page https://mint.soundmoneycoin.io / link "buy some on ForkDelta" is not on the ForkDelta exchange site, and goes to the article about the SOV coin on the site https://medium.com/. Please fix it.

[rothbartofficial]

On page https://mint.soundmoneycoin.io / link "buy some on ForkDelta" is not on the ForkDelta exchange site, and goes to the article about the SOV coin on the site https://medium.com/. Please fix it.

Isn't it better to direct people to a Howto about trading on ForkDelta than to ForkDelta itself? Most people will not be familiar with how a DEX works and might prefer an explanation.


Folks, we are happy to announce that our whitepaper has been released:

http://www.soundmoneycoin.io/whitepaper.pdf

It is now also linked from the ANN.

[pampy]

just wanted to let you know that this coin is going to have a tough time of adoption. Your coin is already overrun with scripts that automatically bid higher than the person, and that also seem to have deals made with the mining pools as their lower fee transactions are also getting block priority. Tried high amounts five blocks in a row and every time a much lower fee got priority. And it is from one of the scripts that non stop subimits. You need to find a way to block the automated scripts or set it up so that no address can receive more than a certain number of coins an hour or day

[rothbartofficial]

just wanted to let you know that this coin is going to have a tough time of adoption. Your coin is already overrun with scripts that automatically bid higher than the person, and that also seem to have deals made with the mining pools as their lower fee transactions are also getting block priority. Tried high amounts five blocks in a row and every time a much lower fee got priority. And it is from one of the scripts that non stop subimits. You need to find a way to block the automated scripts or set it up so that no address can receive more than a certain number of coins an hour or day

Read the sections in the whitepaper on mining and clogging of the Ethereum network. It is expected that Ethereum miners will start cheating at some point if there is enough incentive to do so. Also note that not all miners sort transactions by gas price. It is the default setting in geth, but miners are free to use their own sorting algorithms. Other things, like the sender address, time received, etc, could also play a role:

"It is expected that over time, only the most sophisticated minters, who are also willing to pay a high gas price, will compete for new SOV. An equilibrium should emerge between the cost of minting SOV and the price at which it trades on the market."

[mv1986]

just wanted to let you know that this coin is going to have a tough time of adoption. Your coin is already overrun with scripts that automatically bid higher than the person, and that also seem to have deals made with the mining pools as their lower fee transactions are also getting block priority. Tried high amounts five blocks in a row and every time a much lower fee got priority. And it is from one of the scripts that non stop subimits. You need to find a way to block the automated scripts or set it up so that no address can receive more than a certain number of coins an hour or day

Which person are you talking about that could be the one who gives higher bids than others?

[mahibul49]

I want to see this coin will be used in adoption and it seems it is really different coin than others.i am really loving it.want to see sovcoin success.

[ZloiRediska]

I can't even get a coin today... I have no idea what the mining process will look like after a while. A week ago, each transaction sent brought SOV coins... and now the complexity of production has increased significantly.

[pampy]

I can't even get a coin today... I have no idea what the mining process will look like after a while. A week ago, each transaction sent brought SOV coins... and now the complexity of production has increased significantly.

Honestly, I wouldn't bother trying. The mining process is already monopolized by 2 or 3 people running scripts, and one of them seems to get priority in blocks regardless if you use a higher gas or not. This coin is destined to be more unbalanced than any coin that is mined using POW because at least POW coins, normal people are able to set up miners and get their fair % of what they are adding to the mining pool. This however, is monopolized by a couple people with access to scripts that normal people have no means to acquire. If you look at the distribution of this coin, it is already grossly unbalanced and disproportionate and it is only going to become more and more unbalanced. The creator probably had good intentions and it is a good concept, but it simply won't work with the mechanism of mining that he has chosen.

[mahibul49]

so you call sound money coin a new king??really i think yes!but what is advantage of this coin?any real product or something??

[KnyazED]

so you call sound money coin a new king??really i think yes!but what is advantage of this coin?any real product or something??

this coin has many advantages over others like it. You can read about these benefits in white paper. I think, this information will help you understand all the important essence. For myself, I chose several perspective coins for the future.

[ZloiRediska]

Why do I have when trying to mine metamax generates a transaction with an erroneous (expensive) cost of gas? Already ten times in a row...

[automaticmoney]

Look like SOV is staking coin with all new features available in the market new project in 2019 in pos model will have lot of new developments we can expect

[Bradsbrain]

I agree with what the previous poster said. STAY AWAY FROM THIS COIN. It is exclusively mined by 2 contracts and the one that submits transactions every few seconds has block priority at one of the biggest pools, sparkpool. No matter what gas you use, they will still be awarded a higher block position and you will fail to mine the coin and lose your money. This coin is not sound money, not fairly mined, and is already extremely imbalanced. Also, the metamask extension never uses the proper gas limit, and even though every single transaction from the two scripts that are mining this coin only uses 52,000 gas, when i set my limit at 55,00 gas my transaction fails for reaching the gas limit. Yet, somehow, when i look at the previous 100 transactions, every single one of them only used 52,000 gas. There is something shady about this coin. Stay away

[susano82]

As Sound Money Coin rises in fiat value an increasing number of actors will attempt to mint new coins. Currently, the Ethereum network only supports 15 transactions per second. Consequently, if minting SOV becomes too popular, Ethereum blocks could be soon be completely filled with SOV minting transactions