[ANN] Slimcoin : Proof of Burn NEW BLOCK GEN, Mineable by low power computer!

[kdfspam]

Can't wait to put the RPi on this.

[slimcoin]

The Slimcoin client has all of the mining tools needed for PoB, PoW, and PoS. There will be an external miner for PoW released also that can be used for pool mining, etc.

Can someone explain why do we burn coins?
Why does raspberry pi have advantage over high end cpu or gpu?

Burnt coins can be used to generate PoB hashes, which then can be used to mine PoB blocks. PoB hashes are different from PoW hashes and are hashed in a different way/rate. They are hashed at 1 hash for every burn transaction you have made per 90 seconds. That is extremly undemanding, and that is why a super low power computer can handle PoB mining just as well as the fastest computer on this planet. A Raspberry Pi does not have an advantage mining wise, the advantage is indifferent. What makes the low power computers advantageous is that it is low power, easily attainable and maintainable, and cheaper.

Do we sending existing coins in wallet to be burnt (I guess not)?

Burning coins basically involves sending existing coins (generated from either PoB, PoW, or PoS) to an address that no one has the private key of, meaning they belong to no one and no one can spend them. Since you sent them to that address, they are destroyed and effectively burnt. Once burnt, you can engage in PoB mining.

[Djinou94]

The release date is on Wednesday, May 28 at 22:00 (10:00pm) UTC

Could i burn at 22:00?? I want to burn!

[bri912678]

Will you be giving away any coins at launch so people without big mining rigs stand a chance of mining using PoB?

[chiguireitor]

Will you be giving away any coins at launch so people without big mining rigs stand a chance of mining using PoB?

No sense, Dcrypt isn't GPU implemented, so anyone with a CPU would be able to mine Slimcoin for the first days... at least

[dreampursuing]

hope this coin will be an innovation

[donglaidongwang1]

I dont understand how to burn coins  clearly?
Which coin should i burn?
 how to do that?

And if i burn my coins.
Is that mean my coin disappear?

Last question.can i mine it with my PC? 

[Lpingui]

Very interesting concept, I like it.

[wangmengmeng]

new coins,Visual will fire up, I will always pay close attention to

[dreampursuing]

how to mine this new algorithm coin？？ is there some new tool

[sp00lin9]

Please update with pools, miners & wallets ASAP! (:

[kdfspam]

Will there be compiled binaries for Win32 or source?

[sp00lin9]

Will there be compiled binaries for Win32 or source?

I hope there's going to be a 32bit version also,  I have a few crap computers I can turn on (:

[slimcoin]

Will you be giving away any coins at launch so people without big mining rigs stand a chance of mining using PoB?

No, Slimcoin has no premine and as chiguireitor put it nicely "No sense, Dcrypt isn't GPU implemented, so anyone with a CPU would be able to mine Slimcoin for the first days... at least".

I dont understand how to burn coins clearly?
Which coin should i burn?
 how to do that?

The Qt has a special tab for burning coins and the daemon has a special command premade exactly for burning coins.

And if i burn my coins.
Is that mean my coin disappear?

Burning coins is like spending money on powerful hardware in PoW. Once you burn them, you no longer have them, but are now able to mine PoB.

Last question.can i mine it with my PC?

Yes, that is the entire principal behind PoB, that any computer can mine competitively without any disadvantages over more powerful computers.

Will there be compiled binaries for Win32 or source?

There will be binaries for Linux and windows, and the source will also be made public.

[SomeRelax]

And if i burn my coins.
Is that mean my coin disappear?

Burning coins is like spending money on powerful hardware in PoW. Once you burn them, you no longer have them, but are now able to mine PoB.

so, as far as i've understood the coins will act like fuel
we burn them to create new coins, right?
it's really interesting

[slimcoin]

Yes, it can be related like that.

[SyRenity]

This might have been asked already, but what about bot networks and cloud mining? Is / how this new crypto protects against them?

[slimcoin]

PoW can still be mined through cloud mining, etc. What is different here is that PoW is given less importance. PoB is given more importance in this coin. PoB is cloud mining/not net mining resistant since it has no use for them and having them offers no benefits.

[littlewizard]

The Slimcoin client has all of the mining tools needed for PoB, PoW, and PoS. There will be an external miner for PoW released also that can be used for pool mining, etc.

Can someone explain why do we burn coins?
Why does raspberry pi have advantage over high end cpu or gpu?

Burnt coins can be used to generate PoB hashes, which then can be used to mine PoB blocks. PoB hashes are different from PoW hashes and are hashed in a different way/rate. They are hashed at 1 hash for every burn transaction you have made per 90 seconds. That is extremly undemanding, and that is why a super low power computer can handle PoB mining just as well as the fastest computer on this planet. A Raspberry Pi does not have an advantage mining wise, the advantage is indifferent. What makes the low power computers advantageous is that it is low power, easily attainable and maintainable, and cheaper.

Do we sending existing coins in wallet to be burnt (I guess not)?

Burning coins basically involves sending existing coins (generated from either PoB, PoW, or PoS) to an address that no one has the private key of, meaning they belong to no one and no one can spend them. Since you sent them to that address, they are destroyed and effectively burnt. Once burnt, you can engage in PoB mining.

Thanks, now i understand the basic idea. I guess by doing PoB, we can mine more coins than being burnt.
Another question is that will windows based POW miner be released at launch tonight?

[primer-]

Launch is tonight ?