pantheist
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Activity: 63
Merit: 10
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August 21, 2014, 10:42:41 PM |
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For PoB and PoS minting, all you need is the client to be on. For PoS, all you need are some amount of coins in your balance. For PoB, you have to burn some coins. Now, there are over 200000 coins burned, so for you to see some return, you will need to burn quite a bit. For example, burning 1000 coins will get you a 0.5% chance of landing a PoB block in the network. Given the network stabalizes to 1 PoB block every 3 PoW blocks and a PoW block is found at about every 90 seconds, that means about 320 PoB blocks per day. At 0.5%, that gives you 1 to 2 PoB blocks per day.
So the 50 I burnt probably won't get me anywhere, but this means I can do the math to see what'd be economical. Thanks  |
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pantheist
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Activity: 63
Merit: 10
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August 22, 2014, 03:10:27 AM
Last edit: August 22, 2014, 06:27:09 AM by pantheist |
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So.... does the reward for the PoB block go up with difficulty? If not, why would PoB takeover later on?
edit: went back, I see that PoB has a similar curve to PoW- why would it ever take over- it will probably just become increasingly expensive to participate in- look now when coins are extremely cheap, there are over 200k burnt. In a year if not a single person burnt a coin those would still be 100k effective. Seems like if the price of the coin ever goes up it will be extremely expensive to get into the PoB blocks..
edit 2: and unlike expensive miners that can switch to other coins, once you make the investment (which is looking like it would have to be sizable, just like for good mining gear) you're locked in- you can never switch it to produce something else, so it's even riskier.
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slimcoin (OP)
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August 22, 2014, 04:14:33 AM |
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The general trend is, the more burnt coins active, the smaller the reward. Currently, the burnt coins are remaining at ~200000, so it can be considered a relatively constant reward.
Also, remember that PoB does not guarantee and immediate return of investment. It takes some amount of time.
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-Much Donate
BTC-1D5pnma7E1CP6cquHujycVy79EyXJ3eY
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m5j0r
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August 22, 2014, 06:47:23 AM |
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edit: went back, I see that PoB has a similar curve to PoW- why would it ever take over- it will probably just become increasingly expensive to participate in- look now when coins are extremely cheap, there are over 200k burnt. In a year if not a single person burnt a coin those would still be 100k effective. Seems like if the price of the coin ever goes up it will be extremely expensive to get into the PoB blocks..
edit 2: and unlike expensive miners that can switch to other coins, once you make the investment (which is looking like it would have to be sizable, just like for good mining gear) you're locked in- you can never switch it to produce something else, so it's even riskier.
Absolutely agree. But I think this coin is the first with a feature like this, so it hopefully will be constantly improved. It's not like we're not used to forking by now  |
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SpeedDemon13
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August 22, 2014, 12:35:45 PM |
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Hey slimcoin, will you take off hashharder and slimcoin pool links off of the OP, they aren't even online anymore. Lucky I only mined a day on slimcoin pool, guess those are gone coins now. lol
Did blockquarry finally get back on the proper fork?
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CRYPTSY exchange: https://www.cryptsy.com/users/register?refid=9017 BURST= BURST-TE3W-CFGH-7343-6VM6R BTC=1CNsqGUR9YJNrhydQZnUPbaDv6h4uaYCHv ETH=0x144bc9fe471d3c71d8e09d58060d78661b1d4f32 SHF=0x13a0a2cb0d55eca975cf2d97015f7d580ce52d85 EXP=0xd71921dca837e415a58ca0d6dd2223cc84e0ea2f SC=6bdf9d12a983fed6723abad91a39be4f95d227f9bdb0490de3b8e5d45357f63d564638b1bd71 CLAMS=xGVTdM9EJpNBCYAjHFVxuZGcqvoL22nP6f SOIL=0x8b5c989bc931c0769a50ecaf9ffe490c67cb5911 |
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slimcoin (OP)
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August 22, 2014, 02:36:04 PM |
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Will you take off hashharder and slimcoin pool links off of the OP Will do. Also, I have no news from slm.blockquarry. |
-Much Donate
BTC-1D5pnma7E1CP6cquHujycVy79EyXJ3eY
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pantheist
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Activity: 63
Merit: 10
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August 22, 2014, 02:43:52 PM
Last edit: August 22, 2014, 03:24:19 PM by pantheist |
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edit: went back, I see that PoB has a similar curve to PoW- why would it ever take over- it will probably just become increasingly expensive to participate in- look now when coins are extremely cheap, there are over 200k burnt. In a year if not a single person burnt a coin those would still be 100k effective. Seems like if the price of the coin ever goes up it will be extremely expensive to get into the PoB blocks..
edit 2: and unlike expensive miners that can switch to other coins, once you make the investment (which is looking like it would have to be sizable, just like for good mining gear) you're locked in- you can never switch it to produce something else, so it's even riskier.
Absolutely agree. But I think this coin is the first with a feature like this, so it hopefully will be constantly improved. It's not like we're not used to forking by now Fair point. I like the concept here for sure. Last time I though that was with DRK when were 70 cents, and I'm still kicking myself for only buying a couple bucks worth with leftover BTC from another transaction. I have a bit of spare cash this time too, but it just seems like there is a lot that hasn't been thought through very well yet with these. I wonder if they'll get straightened out or if these will just end up being a proof of concept with another coin executing it better. |
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slimcoin (OP)
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August 22, 2014, 02:48:55 PM |
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Do not forget this this coin can also adapt. Whenever I see a place that can make this coin better, I am ready to adapt it to make it better.
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-Much Donate
BTC-1D5pnma7E1CP6cquHujycVy79EyXJ3eY
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AizenSou
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August 25, 2014, 08:03:29 AM |
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Do not forget this this coin can also adapt. Whenever I see a place that can make this coin better, I am ready to adapt it to make it better.
Such a nice and innovative coin, but it will die slowly without promotion. I suggest you fix all the bugs first to make the coin stable, and then gather a team for diverse promotion tasks. You get a lot of supporters in this thread, even Hero Member, so I'm sure that would bring the coin to better position. |
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almightyruler
Legendary
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Activity: 2268
Merit: 1092
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August 25, 2014, 08:13:59 AM |
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Just noticed the massive spread on bter. If you buy then immediately sell you'll lose 90%+
Top ask: 0.00002900
Top bid: 0.00000280
Guess I'll be holding onto the SLM I recently purchased for a bit longer...
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rfcdejong
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August 25, 2014, 06:53:25 PM |
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Just noticed the massive spread on bter. If you buy then immediately sell you'll lose 90%+
Top ask: 0.00002900
Top bid: 0.00000280
Guess I'll be holding onto the SLM I recently purchased for a bit longer...
280 bid is really way too low compared in what you can mine, i won't sell for sure that cheap |
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m5j0r
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August 26, 2014, 10:46:43 AM |
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I don't get mints anymore. They used to be quite constant, every day 2-3. Now nothing for like 4 days.
Running: maxconnections=1 -connect=76.127.202.17
Is this yet another bug or what has changed all of a sudden?
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primer-
Legendary
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Activity: 1092
Merit: 1000
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August 26, 2014, 12:28:32 PM |
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I don't get mints anymore. They used to be quite constant, every day 2-3. Now nothing for like 4 days.
Running: maxconnections=1 -connect=76.127.202.17
Is this yet another bug or what has changed all of a sudden?
Node 76.127.202.17 is down. Expect another fork soon. |
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m5j0r
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August 26, 2014, 05:58:29 PM |
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@Dev perfect time to step in and clear up this mess.
Nice way to say get the fuck up and do something...
I can't send anything again. It never arrives :/ just tried a few SLM to test.
Disappointment to the max.
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slimcoin (OP)
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August 26, 2014, 06:21:23 PM |
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The node is back up again. The best blockchain is the same one as the blockchain explorer.
My plans for the future: Slimcoin is a Peercoin fork. I tried to merge it with Novacoin before but Novacoin is too different of a project to be merged at this point. There is a project called Peerunity which is the more maintained and newer version of Peercoin. I will try to merge it into Slimcoin. I will obviously test the newly merged client but hopefully this merging will solve any bugs.
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-Much Donate
BTC-1D5pnma7E1CP6cquHujycVy79EyXJ3eY
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ralfik
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Activity: 4
Merit: 0
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August 26, 2014, 06:34:33 PM |
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I have a problem: error db.log slimcoin ErrorFile=C:.... AppData\Roaming\SLIMCoin\db.log wallet do not update  |
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slimcoin (OP)
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August 26, 2014, 07:17:03 PM |
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ErrorFile=C:.... AppData\Roaming\SLIMCoin\db.log All that says is it records all errors in that file. By update I assume you meant download the blockchain. To do that, start the wallet with -connect=76.127.202.17 |
-Much Donate
BTC-1D5pnma7E1CP6cquHujycVy79EyXJ3eY
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ralfik
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August 26, 2014, 07:33:24 PM |
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ok. thx.... only, where I have write -connect=76.127.202.17? (console?)  |
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m5j0r
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August 26, 2014, 10:47:19 PM |
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Create a shortcut, right click properties and add that to it. It's all over the last 2 pages. And I've actually just posted the exact commands up there:
maxconnections=1 -connect=76.127.202.17
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d5000
Legendary
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Merit: 6860
Decentralization Maximalist
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August 26, 2014, 10:59:15 PM |
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The node is back up again. The best blockchain is the same one as the blockchain explorer.
My plans for the future: Slimcoin is a Peercoin fork. I tried to merge it with Novacoin before but Novacoin is too different of a project to be merged at this point. There is a project called Peerunity which is the more maintained and newer version of Peercoin. I will try to merge it into Slimcoin. I will obviously test the newly merged client but hopefully this merging will solve any bugs.
Great idea! I'm following Peercoin too and Peerunity is really an improvement compared to the (old) standard version. |
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