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

[reflector]

Here is the pseudocode:

Code:

maxreward = 50 // or 250 for PoB
lower = 0.01
upper = maxreward
while(lower + 0.01 <= upper)  //  this is a loop, so the stuff in the brackets below will be executed over and over until the condition in the parenthesis is no longer met
{
    mid = (lower + upper)/2
    if(mid > maxreward/(diff^(1/4)))
        upper = mid
    else
        lower = mid
}
reward = upper
reward = (reward/100)*100 // cut off decimals below 1 cent

the rest is pretty self explanatory

Entertain me and calculate the PoW reward at difficulty 0.93650019 and PoB reward at the same dif. (as if it matters) and 912,000 burned coins.

Sorry, I'm not seeing a variable for nEffectiveBurnCoins and don't have time to dig through the code right now.

[1714522534]

1714522534

[1714522534]

1714522534

[primer-]

Sorry, I'm not seeing a variable for nEffectiveBurnCoins and don't have time to dig through the code right now.

Calculate PoW then.

[sandor111]

Sandor check/restart your hotwallet, i am not getting any payouts from the pool.

Payments are sent out properly, maybe your wallet isn't synced?

[primer-]

Sandor check/restart your hotwallet, i am not getting any payouts from the pool.

Payments are sent out properly, maybe your wallet isn't synced?

I have them on autorestart every 20 mins, 4 to make sure they sync.
I have not received a single payout in hmm 2-3 hours. I'll PM the addresses.

[slimcoin]

I need more debug.log files to fix this issue. If anyone has one, send it over to me please.

[reflector]

Sorry, I'm not seeing a variable for nEffectiveBurnCoins and don't have time to dig through the code right now.

Calculate PoW then.

I'm getting 50, so either I'm doing something wrong, or the psuedocode is wrong.  It's probably me.  What do you get?

[bitspender]

BTER deposits has been disabled?

[primer-]

BTER deposits has been disabled?

Yes, they have pulled the plug on this shitcoin

[rfcdejong]

BTER deposits has been disabled?

so have withdraws and trading... anyone made a support ticket?

[TheRealSteve]

The graph pretty much follows the fourth root no matter which way you plot it - depending on the reference.

Considering the value cited, I'm going to guess that you're asking about the difficulty as reported by the JSON-RPC.  Rather than messing with the calculations involved, you can always check the actual values so far:


Amateur hour guess: diff 0.93650019 ~= 6.35 SLiM (PoW, not even going to attempt PoB)

[primer-]

Professional prediction : Current miner can be optimized by a tenfold or more.
My old dual core is half the speed the latest 4770k cpu. Obviously AES and SSSE optimizations are missing. My other miners, including original scrypt cpuminer does at least 10x better on 4770k.

If ported to GPU we will see a 100x speed increase. Difficulty of 3-5 is to be expected if the coin picks up. What would the PoW reward be than, 2SLM?

I'm here, wasting my time, as i've made quiet an amount selling in the first 48h and have moral obligation to help the coin survive so the traders eventually earn some of the money back. I'll give it another 24h, if the dev does not submit patches for the wallet i'm done.

[sandor111]

The graph pretty much follows the fourth root no matter which way you plot it - depending on the reference.

Considering the value cited, I'm going to guess that you're asking about the difficulty as reported by the JSON-RPC.  Rather than messing with the calculations involved, you can always check the actual values so far:


Amateur hour guess: diff 0.93650019 ~= 6.35 SLiM (PoW, not even going to attempt PoB)

Your right, this is the exact formula: reward = maxreward/((diff*4096)^(1/4))
In my pseudocode, diff has to be multiplied by 4096, because it's using a higher max target than Bitcoin.

[TheRealSteve]

Difficulty of 3-5 is to be expected if the coin picks up. What would the PoW reward be than, 2SLM?

Assuming that's a thing..
3: 4.75
5: 4.18

Your right, this is the exact formula: reward = maxreward/((diff*4096)^(1/4))
In my pseudocode, diff has to be multiplied by 4096, because it's using a higher max target than Bitcoin.

Yep

[primer-]

Difficulty of 3-5 is to be expected if the coin picks up. What would the PoW reward be than, 2SLM?

Assuming that's a thing..
3: 4.75
5: 4.18

1. Name one other coin with such low reward.
2. In how many centuries are we going to hit the total cap of 250,000,000 coins? Obviously never because the reward system is broken.

[reflector]

Difficulty of 3-5 is to be expected if the coin picks up. What would the PoW reward be than, 2SLM?

Assuming that's a thing..
3: 4.75
5: 4.18

1. Name one other coin with such low reward.
2. In how many centuries are we going to hit the total cap of 250,000,000 coins? Obviously never because the reward system is broken.

You are ignoring market forces though.  People are only going to mine it if it's profitable.1. Name one other coin with such low reward.

Edit:

1. Name one other coin with such low reward.

42?

[primer-]

Are you saying the dev foresaw the unprofitabillity of the coin and therefore low difficulty when designing block reward and total cap? Fucking coin is broken beyond repair.

[bitspender]

Difficulty of 3-5 is to be expected if the coin picks up. What would the PoW reward be than, 2SLM?

Assuming that's a thing..
3: 4.75
5: 4.18

1. Name one other coin with such low reward.
2. In how many centuries are we going to hit the total cap of 250,000,000 coins? Obviously never because the reward system is broken.

You are ignoring market forces though.  People are only going to mine it if it's profitable.1. Name one other coin with such low reward.

Edit:

1. Name one other coin with such low reward.

42?

Well, since BTER kicked SLM, i guess this coin can be considered as dead, no mather what reward.
I'm not going to keep my rigs on for a coin that cannot be exchanged on a daily base.

[reflector]

Are you saying the dev foresaw the unprofitabillity of the coin and therefore low difficulty when designing block reward and total cap? Fucking coin is broken beyond repair.

No, I'm saying it might balance itself out and that that was the intention.  I don't know, but when I make an investment, I don't trash it, its creator, and other investors for no apparent reason.  It seems counterproductive.

[ShadowOfScales]

So a coin arrives with innovation, it has it's flaws, but it's functional, people find the new features quite innovative.
Later, greedy trolls arrive, only wishing to profit from the coin, and not understanding proof of burn, and how it works, reason to buy through trading, ect.
The coin will of course, take a long time to mine, but quit forgetting about proof of burn.

With Proof of Burn, if one first buys some coins, the coin is quite profitable.

[primer-]

Are you saying the dev foresaw the unprofitabillity of the coin and therefore low difficulty when designing block reward and total cap? Fucking coin is broken beyond repair.

No, I'm saying it might balance itself out and that that was the intention.  I don't know, but when I make an investment, I don't trash it, its creator, and other investors for no apparent reason.  It seems counterproductive.

If you are one of the investors who bought in early i really feel sorry for you. You, in th first place, should be mad at the dev for not providing critical patches for the wallet, and the person who got it added to bter
 just a couple hours after launch.