[SPC][PoF] SaveCoin | Proof of Fund Coin | 64% Interest Annually / 0.137% Daily

[coin-cidence]

Hi, mining newbie here. I need help. I am CPU mining (while waiting for heavier gear). My minerd is running, telling me about how "stratum detected new block", "thread 2: 118440 hashes", "2,50 khash/s" and so on....

However, at the PityThePool there is no sign that I am mining. My hash rate is 0 and it even says that I have no active workers... Now, I am at a loss what I do wrong. Can someone help please?

My CPU is running close to 100%, hash info is constantly running in the minerd, the pool doesn't seem to recognize any of this.

I don't mind sending off a couple of SPC to whoever can help a lost fellow in need. The idea of shutting down my computers at night instead of mining is... eeeh... me no like

I was mining with rented 1,000 Ghash/s and get 200 SPC for 1 day, it gives you 0.0000005 SPC for day with 2,5 Khash/s so... shutting down computer at night might be a good idea 

[GullibleGooo]

Suresh, regardless of how the trademark discussion end up, it would probably benefit the status of your coin if you "coined" a new expression for your distribution(/interest) strategy. You say it is not a PoS, sure, but WHAT is it... ?

I do understand where you coming from but... this coin is PoW, there's an interest attached, but it has got nothing to do with mining/validating transactions.
Using new "Po[Something]" would be just too confusing. Unless you name it something like "PoW/PoP" just as a marketing stunt (I like "PoP" btw).

Yes, "marketing stunt" is what it is. Its power shouldn't be underestimated. At the same time, the idea is more than just a stunt since Speedcoin DO present a new innovation and deserves to highlight the innovation angle and benefit from it.
I like PoP too. Another one is "Proof of Ownership"... PoO ... smell that!

[pawel7777]

Hi, mining newbie here. I need help. I am CPU mining (while waiting for heavier gear). My minerd is running, telling me about how "stratum detected new block", "thread 2: 118440 hashes", "2,50 khash/s" and so on....

However, at the PityThePool there is no sign that I am mining. My hash rate is 0 and it even says that I have no active workers... Now, I am at a loss what I do wrong. Can someone help please?

My CPU is running close to 100%, hash info is constantly running in the minerd, the pool doesn't seem to recognize any of this.

I don't mind sending off a couple of SPC to whoever can help a lost fellow in need. The idea of shutting down my computers at night instead of mining is... eeeh... me no like

What coin are you mining?
Think the pool will show your speed after you have any shares accepted, with that speed it may take a while.

[Suresh Matsui]

Suresh, regardless of how the trademark discussion end up, it would probably benefit the status of your coin if you "coined" a new expression for your distribution(/interest) strategy. You say it is not a PoS, sure, but WHAT is it... ?

I do understand where you coming from but... this coin is PoW, there's an interest attached, but it has got nothing to do with mining/validating transactions.
Using new "Po[Something]" would be just too confusing. Unless you name it something like "PoW/PoP" just as a marketing stunt (I like "PoP" btw).

Yes, "marketing stunt" is what it is. Its power shouldn't be underestimated. At the same time, the idea is more than just a stunt since Speedcoin DO present a new innovation and deserves to highlight the innovation angle and benefit from it.
I like PoP too. Another one is "Proof of Ownership"... PoO ... smell that!

I have decided Proof of Balance 

Updated thread title and first post, thank you very much for the idea!

[pawel7777]

Suresh, regardless of how the trademark discussion end up, it would probably benefit the status of your coin if you "coined" a new expression for your distribution(/interest) strategy. You say it is not a PoS, sure, but WHAT is it... ?

I do understand where you coming from but... this coin is PoW, there's an interest attached, but it has got nothing to do with mining/validating transactions.
Using new "Po[Something]" would be just too confusing. Unless you name it something like "PoW/PoP" just as a marketing stunt (I like "PoP" btw).

Yes, "marketing stunt" is what it is. Its power shouldn't be underestimated. At the same time, the idea is more than just a stunt since Speedcoin DO present a new innovation and deserves to highlight the innovation angle and benefit from it.
I like PoP too. Another one is "Proof of Ownership"... PoO ... smell that!

I have decided Proof of Balance  


Updated thread title and first post, thank you very much for the idea!

Well done. "PoB" sounds good

[Jacques21]

Im new to Speedcoin, just started mining. Do i just leave the coins in the wallet to get the interest or do i need to use the coin control in the wallet?

This looks like a great coin.

This should go on coinmarketcap.com

[Suresh Matsui]

Im new to Speedcoin, just started mining. Do i just leave the coins in the wallet to get the interest or do i need to use the coin control in the wallet?

This looks like a great coin.

Hello, you just leave the coins in the wallet, interest is paid every 24 hours
You can keep wallet closed or open, it's up to you.
Very simple!

[Jacques21]

Im new to Speedcoin, just started mining. Do i just leave the coins in the wallet to get the interest or do i need to use the coin control in the wallet?

This looks like a great coin.

Hello, you just leave the coins in the wallet, interest is paid every 24 hours
You can keep wallet closed or open, it's up to you.
Very simple!

Awesome, Thank You

[HegelianCattalactics]

PoB is smart ... I was also thinking ... maybe "Proof of Interest" POI ?  A very easily identified term that may get good traction as well.

[Suresh Matsui]

INTEREST PAID ON 27th April 2014

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SMZh1XX8A8csGqDURmTicYcE5eEqWygxRV   0.15685201   0.00021488725370000000   Sun Apr 27 02:06:29 BST 2014
SbSHNPtzMCgtYN6nmHk3UFfthVAvSBMDSM   1   0.00137000000000000000   Sun Apr 27 02:06:29 BST 2014
SXAgqTWiaQSV8jGiG7AwtxRPFRbjUoshDP   1   0.00137000000000000000   Sun Apr 27 02:06:30 BST 2014
SN2NQ3KYzXxm4wi5EoyJMhkMrmUCgJU7ZC   1   0.00137000000000000000   Sun Apr 27 02:06:30 BST 2014
SgBSXHaV8rzmoZ7bMGmKYzbKhgD3w2hNjD   3.07576326   0.00421379566620000000   Sun Apr 27 02:06:30 BST 2014
SRhvY9gve6SBT5h4N84nSsJvYepPr9Tskb   1   0.00137000000000000000   Sun Apr 27 02:06:31 BST 2014
SiMgZyThaos1Gk7jMb412jRj5BCfeEkCvU   1   0.00137000000000000000   Sun Apr 27 02:06:31 BST 2014
SjTdLLD38M9jEf2fRWnDMuTXymj3S1CSyk   1   0.00137000000000000000   Sun Apr 27 02:06:31 BST 2014
SR9Dza7CTv274UTaKr44CUKwGL3wcswsur   10   0.01370000000000000000   Sun Apr 27 02:06:31 BST 2014
Sf7zAA92Ewg2hYfqDZXKSYngUVfpKXPPpk   1   0.00137000000000000000   Sun Apr 27 02:06:32 BST 2014
SgMKTtS2kkDtZThG3yUhAG25WzcPHTLiQ9   1   0.00137000000000000000   Sun Apr 27 02:06:32 BST 2014
SbkYbU61mHTTsTDTgFHWLgcbc4bQjrfwBb   1.03918195   0.00142367927150000000   Sun Apr 27 02:06:32 BST 2014
SQ9LFtMwLfeUpVew6SwDZmgCSbEp8xBzRn   1   0.00137000000000000000   Sun Apr 27 02:06:32 BST 2014
SiTaVapFyjo7oAg1YCFTWSxCJtMK7BhPXb   1   0.00137000000000000000   Sun Apr 27 02:06:33 BST 2014
SUhKWwrD3apUGuec8a8yBTKwqoWkKGeq3x   1.00006   0.00137008220000000000   Sun Apr 27 02:06:33 BST 2014
SVw6HLky59Z2EusK3SXzxYRLwPSyrBz1cS   0.05931214   0.00008125763180000000   Sun Apr 27 02:06:33 BST 2014
SUjNceL7fwhKy2QDeCKj1hFbgUCkxjDcoF   0.01023672   0.00001402430640000000   Sun Apr 27 02:06:34 BST 2014
SVoLG17PFf7NBmvh9wYnoiWiyntvFKrg8s   1   0.00137000000000000000   Sun Apr 27 02:06:35 BST 2014
Sep4LsqYWyUu1YWQYtXiEyBFp3kGjE9CWG   1.00002   0.00137002740000000000   Sun Apr 27 02:06:35 BST 2014
ScQVmwNqm5TEoG2gicYg2EpLDDPMXsH23n   1   0.00137000000000000000   Sun Apr 27 02:06:35 BST 2014
SfoKuTREcjJS8aX5opdpTGQHH1uF4xyGzp   1.00005   0.00137006850000000000   Sun Apr 27 02:06:35 BST 2014
SYwxUTogvEshaLWfKs7YXfts8Z2jUMZ6Yj   1.00001   0.00137001370000000000   Sun Apr 27 02:06:37 BST 2014
Sby9tNK8cQnPdWTqrrxU4hN7jfCTddZdee   1   0.00137000000000000000   Sun Apr 27 02:06:43 BST 2014

First row is address, second row is balance, third row is interest amount that will be paid, fourth row is what time address balance was taken.
This interest payment includes addresses recorded up to block 17917.


Thanks a lot for participating!

Enjoy!

[GullibleGooo]

Suresh, regardless of how the trademark discussion end up, it would probably benefit the status of your coin if you "coined" a new expression for your distribution(/interest) strategy. You say it is not a PoS, sure, but WHAT is it... ?

I have decided Proof of Balance 

Updated thread title and first post, thank you very much for the idea!

Sounds good. Though just so you know, there is another PoB that also has a very interesting concept. Proof of Burn. The only coin that I know that is doing it so far is NGC/NigeriaCoin (listed on C-Cex) - https://bitcointalk.org/index.php?topic=520100.0 - (white paper - http://www.scribd.com/doc/213646442/NigeriaCoin-whitepaper).
It would be better if your PoB was the first, but maybe it doesn't matter.

[Suresh Matsui]

Suresh, regardless of how the trademark discussion end up, it would probably benefit the status of your coin if you "coined" a new expression for your distribution(/interest) strategy. You say it is not a PoS, sure, but WHAT is it... ?

I have decided Proof of Balance  

Updated thread title and first post, thank you very much for the idea!

Sounds good. Though just so you know, there is another PoB that also has a very interesting concept. Proof of Burn. The only coin that I know that is doing it so far is NGC/NigeriaCoin (listed on C-Cex) - https://bitcointalk.org/index.php?topic=520100.0 - (white paper - http://www.scribd.com/doc/213646442/NigeriaCoin-whitepaper).
It would be better if your PoB was the first, but maybe it doesn't matter.

Changed to Proof of Funds since I don't want to confuse with Proof of Burn. 

[HegelianCattalactics]

I like POF

Below is a chart (A barebones one) that shows some of the Big Fish behind Bitcoin.
(If you want to delve deeper go here http://www.muckety.com/Bitcoin/5098400.muckety)

Bitcoin is Cryptoworlds "Reserve Currency" much like the USD is currently the "World Reserve Currency" and UK was in the early 1970's.

In market trading one strategy is to locate the big fish and find the direction they swim in. (The parasite system) Their scraps are your food.
If you swim against them you are their food. One can be contrarian with Big fish swimming in a contrarian trend ... Like Bitcoin.

Here is Google's new entry into the bitcoin marketplace https://www.buttercoin.com/#/  (Very recent)

Everyone be encouraged and work to get this coin recognized. When things take off ... "all the ships in the harbor will rise."
This one will rise far more due to it's structure.

The Winklevoss Brothers are working on creating a trading ETF for the stock market. (Will be ready in a few months)
Bitcoin will go crazy then.

Our job now is to get Speedcoin in place for that huge influx in this market.

[Suresh Matsui]

I like POF

Below is a chart (A barebones one) that shows some of the Big Fish behind Bitcoin.
(If you want to delve deeper go here http://www.muckety.com/Bitcoin/5098400.muckety)

Bitcoin is Cryptoworlds "Reserve Currency" much like the USD is currently the "World Reserve Currency" and UK was in the early 1970's.

In market trading one strategy is to locate the big fish and find the direction they swim in. (The parasite system) Their scraps are your food.
If you swim against them you are their food. One can be contrarian with Big fish swimming in a contrarian trend ... Like Bitcoin.

Here is Google's new entry into the bitcoin marketplace https://www.buttercoin.com/#/  (Very recent)

Everyone be encouraged and work to get this coin recognized. When things take off ... "all the ships in the harbor will rise."
This one will rise far more due to it's structure.

The Winklevoss Brothers are working on creating a trading ETF for the stock market. (Will be ready in a few months)
Bitcoin will go crazy then.

Our job now is to get Speedcoin in place for that huge influx in this market.

Nice analysis

It would be a case of marketing and starting to spread awareness of SPC in order to tap in to that potential market. A strategy should be formed with the help of this community in order for SPC to succeed and stay relevant once SPC takes off in the future

The long term goal of SpeedCoin is to become a major crypto-currency to work along with Bitcoin, and not to be just another clone of Bitcoin.
That's why SpeedCoin has two fundamental advantages that need to be emphasized. The first advantage is the 35 second block time speed which is a major advantage in terms of faster payment confirmations for customers and merchants. This will pay a key role in the future of SPC as it grows and supports a growing economy which uses crypto-currencies.

The second advantage of SpeedCoin is the biggest one which is the interest payments which will last for at least 10 years at the 64% annual interest rate. With daily interest payments at 0.137% paid directly to any address containing a balance without staking, SpeedCoin is competing with the banks of the world and provides a high interest rate and flexibility that a bank could not do. Using Proof of Funds, users of crypto-currencies are no longer restricted to keeping coins sitting in their wallet and keeping their wallets open. They are free to move coins however they like and still get paid interest.

With these unique features of SpeedCoin, SPC will gain huge momentum and may bring more people in to crypto-currency world.

Our next steps are:

• Making SpeedCoin much more user friendly. We want to help bring more people in to the crypto-currency world and make it easier to understand and participate in.
• Getting on to more exchanges. We will try doing this, but we need more voting to convince exchanges! Contact your favorites exchanges and ask them to add SPC, more volume is good for SPC.
• More rewards for miners and holders. We will be looking at introducing a 20SPC reward to one SPC address weekly and announcing the winner here!
• New website direction, making the website more accessible and friendly.
• Offering bounties for those who will produce an Android wallet, online wallet, or any other innovation that benefits SpeedCoin!

Let's make SpeedCoin succeed! Help SPC by voting on your favorite exchanges, spreading the word about SPC on Twitter and Facebook and word of mouth!

[Suresh Matsui]

Vote for SpeedCoin [SPC] to be added to Comkort exchange! https://comkort.com/vote
Vote for SpeedCoin [SPC] to be added to MintPal exchange! https://www.mintpal.com/voting
Vote for SpeedCoin [SPC] to be added to ECOINFUND exchange! http://www.ecoinfund.com/vote
Vote for SpeedCoin [SPC] on CryptoALTex! https://www.cryptoaltex.com/index.php?page=votes (Make sure to vote for SPC and not SPD!)

[Suresh Matsui]

We now have a dedicated section on cryptocointalk https://cryptocointalk.com/forum/1209-speedcoin-spc/

[Suresh Matsui]

Nearly at 10TH/s network speed  Very exciting!

[Suresh Matsui]

4th place at https://comkort.com/vote
Keep voting!

[pawel7777]

4th place at https://comkort.com/vote
Keep voting!

Voted. Very close to 3rd and 2nd places.

[Suresh Matsui]

4th place at https://comkort.com/vote
Keep voting!

Voted. Very close to 3rd and 2nd places.

Very close indeed! Thanks for voting