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

[primer-]

net burnt and immature burnt still at 1.00SLM

i thought i was to get from 0-250 ?

[1714856286]

1714856286

[primer-]

net burnt and immature burnt still at 1.00SLM

i thought i was to get from 0-250 ?

What happens when we sell the burned coins on an exchange, new buyers get to burn them again ? What stops one from sending from one to the other address and reburning them over and over ? Damn, i am so lazy, i should read the whitepaper..

Lets see what happens with the burned coin , its at 2/6 confirmed atm.

[prix]

Code:

[
{
"Net Burnt Coins" : 0.00000000,
"Effective Burnt Coins" : 0.00000000,
"Immature Burnt Coins" : 0.00000000,
"Decayed Burnt Coins" : 0.00000000
},
{
"General Info" : "",
"nBurnBits" : "1f00a76f",
"nEffectiveBurnCoins" : "6009990",
"Formatted nEffectiveBurnCoins" : "6.00999"
}
]

I understand someone else burned 4 coins before 523 and 1 before 524 block.

[Givatoshi_Moremoto]

prognosis? anyone made profit from burning?

[primer-]

hmm, burnt is now confirmed (6/6) but still showing as immature in the windows wallet

Net burnt Coins : 1SLM
Immature Burnt Coins : 1SLM

EDIT : moved to effective burnt coins : 1SLM

So NO, no profit. This is lottery like is it ?

[prix]

528
moneysupply: 10456.97000000,

531
moneysupply: 10696.78000000,

~240 SLC - is it profit from POW & POB?

[primer-]

528
moneysupply: 10456.97000000,

531
moneysupply: 10696.78000000,

~240 SLC - is it profit from POW & POB?

Move the wallet to a windows qt client, impossible to tell via linux wallet unless you really know your way around commands which is unlikely as they are brand new

[prix]

Current reward for POW block is about 15 SLC.
Someone got reward for POB as i understand.

[Givatoshi_Moremoto]

I understand that pob block must be followed by pow block.

I just did my first burn for 3 slm. lets see what happens.

[primer-]

i burned 6, got nothing.

[prix]

I understand that pob block must be followed by pow block.

I just did my first burn for 3 slm. lets see what happens.

From 531 to 536 money supply increased only on 75 SLC.
So, probably not.

[primer-]

I understand that pob block must be followed by pow block.

I just did my first burn for 3 slm. lets see what happens.

From 531 to 536 money supply increased only on 75 SLC.
So, probably not.

Wow, such luck. i dont get it, at 250 mil cap this does not look right.

[Givatoshi_Moremoto]

bit confusing..

it was good concept tho, hope it was easier.

I was thinking, this might be better way to implement same concept.
you burn coins, which goes into pob hashing. say there are 100 coins burned in total over time.
and you have 10 burn coins. you get 10% of each and every pob block.
as people burn more coins, your % gets reduced, you invest more by burning more. you keep getting whatever your % is. the total burnt coins keeps getting larger and larger, further reducing the total available coins. price goes up. you get return for whatever coins you invested. everyone is happy

[prix]

From 538 to 540 (2 blocks): + 170 SLC, one of this blocks is POB

[primer-]

Still not sure if one SLM should be burnt at a time or if more is fine. 6 burnt - 0 reward

Also not sure if better to burn now while 'burn diff' is low or that makes no difference ? I think no difference hence the raspery pi comparison in first post

[Givatoshi_Moremoto]

i'm just gonna burn thru my first block of 36 coins and see what happens. if I don't get any back, then I'm out.

too much of gambling like mechanism. If I wanna gamble with my coin, I can just go to dice games. instead of sitting here watching the burn coins confirm for 10 minutes at a time

[primer-]

i'm just gonna burn thru my first block of 36 coins and see what happens. if I don't get any back, then I'm out.

too much of gambling like mechanism. If I wanna gamble with my coin, I can just go to dice games. instead of sitting here watching the burn coins confirm for 10 minutes at a time

Did you get anything ?

[prix]

I think (based on the money supply) that only one in ten block is POB (530, 540, 550, ...).
I checked from 528 to 550 block.

[primer-]

I think (based on the money supply) that only one in ten block is POB (530, 540, 550, ...).
I checked from 528 to 550 block.

Ok, i just created a new wallet to transfer my coins to an encrypted wallet, i transfered 1 SLM and now i see a Mint by burn 31.56SLM in the transactions tab.

Dev should explain better how this all works

[prix]

Though it seems I'm wrong

Code:

"blocks" : 552,
"moneysupply" : 11250.74000000,

"blocks" : 554,
"moneysupply" : 11361.89000000,

Anyway POB blocks are rare.

Dev should explain better how this all works

Undoubtedly.