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

[primer-]

There can be a PoB pool implemented via P2P pools so some sort. It is like solo mining in PoW. You burn a few and depending on how much you burn, the more likelier you are to find a PoB block. PoW is also based on luck, there have been people mining for hours and accumulated a few blocks and other have gotten 7+ blocks.

Are they interlinked ? Can only one PoB block be found during one PoS block ? If i was to burn 100 coins now, and i hit a PoB block, what would i get ? How do i know if i hit a PoB lock ?

And no, PoW is not luck based, not any more than on other coins, the more hash power you got the more of a chance to hit a block.

[1714884237]

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[1714884237]

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[1714884237]

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[slimcoin]

PoB blocks can be found only after a new PoW blocks have been found. The reward depends on what the PoB difficulty is, the last few blocks have had rewards of 80 coins.

[slimcoin]

And no, PoW is not luck based, not any more than on other coins, the more hash power you got the more of a chance to hit a block.]And no, PoW is not luck based, not any more than on other coins, the more hash power you got the more of a chance to hit a block.

PoB is the same deal, the more coins you burn the more chance you have to hit a block. PoB and PoW are very similar.

[primer-]

PoB blocks can be found only after a new PoW blocks have been found. The reward depends on what the PoB difficulty is, the last few blocks have had rewards of 80 coins.

Higher the PoB diff the less the reward ? or opposite ? At this rate PoB reward will be a one digit number (if max is 250)

[boringcoinbct]

Considering this coin - Is there any premine/instamine with this coin? Is there anything else that sets it apart from other coins besides proof of burn?

[primer-]

I just burned another 40 coins and got 0 .. not burning any more, this seems broken all over ..

And whats with the Decayed burnt coins amount ?

[BitcoinFX]

And no, PoW is not luck based, not any more than on other coins, the more hash power you got the more of a chance to hit a block.]And no, PoW is not luck based, not any more than on other coins, the more hash power you got the more of a chance to hit a block.

PoB is the same deal, the more coins you burn the more chance you have to hit a block. PoB and PoW are very similar.

This is the crypto currency equivalent of ERNIE - See: https://wikipedia.org/wiki/ERNIE#ERNIE

Well kind of similar anyhow.  

[workminer]

how long will i get the mint by burn?

[primer-]

Dev, did i actually hit a PoB block ?

http://imgur.com/VmJi4BX

[slimcoin]

Higher the PoB diff the less the reward ? or opposite ? At this rate PoB reward will be a one digit number (if max is 250)

The block reward follows a similar curve to y=x^(-1/4). In the curve, the higher the difficulty, the more it takes to drop the PoB reward. To get single digit rewards would mean having a massive amount of coins burnt, probably larger than the 250 million coin cap, making it impossible.

[slimcoin]

Dev, did i actually hit a PoB block ?

It looks like it, type listtransactions in the debug window, show the output from that.

[primer-]

Dev, did i actually hit a PoB block ?

It looks like it, type listtransactions in the debug window, show the output from that.

account" : "",
"category" : "immature",
"amount" : 64.62000000,
"confirmations" : 6,
"blockhash" : "ea5ee1268fcc3971b73716f471eee52a18e917360e1948ad0ae32de2865fd58b",
"blockindex" : 0,
"txid" : "9cf4cad2b2f54e3f666d1322540f598fe75c8cc3565f788381f6464ae6e1a14b",
"time" : 1401368609,
"comment" : "",
"message" : "",
"to" : ""
}
]


listtransactions is showing 10 last transactions instead of all. Another bug..

[BitcoinFX]

And no, PoW is not luck based, not any more than on other coins, the more hash power you got the more of a chance to hit a block.]And no, PoW is not luck based, not any more than on other coins, the more hash power you got the more of a chance to hit a block.

PoB is the same deal, the more coins you burn the more chance you have to hit a block. PoB and PoW are very similar.

This is the crypto currency equivalent of ERNIE - See: https://wikipedia.org/wiki/ERNIE#ERNIE

Well kind of similar anyhow.  

ERNIE'S LUCKY BOND BOX: SfSLMCoinMainNetworkBurnAddr1DeTK5  



ERNIE'S LUCKY BOND BOX: SfSLMCoinMainNetworkBurnAddr1DeTK5    

[slimcoin]

Another bug..

List transactions is set to do that by default, checkout its help and there is an argument for the number of tx's to display.

[primer-]

Another 30 burned and got nothing This is not the coin for me

Whats with the decayed burnt coins ? Why would we care about it ?

[yzm_2014]

The coins that are forever. 
They are compensated by the proof of burn blocks that are generated as a result of the burning.
Maybe it is right that slim is lower cost.
That destruction of coins is why the coin cap is set to be as high as it is.

[Bruce Red]

Proof of Burn?
POB?
new concept.

[primer-]

Before you start burning away keep in mind its completely luck based. I have burned around 100 coins and got only 68 in PoB. You dont get a lower PoB diff then now so if you do burn, burn one at a time, per block (must be done manually until someone creates a script)

Whats the command line to burn one coin via linux wallet ?

[BitcoinFX]

slimcoin - please clarify if spent PoB coins provide any ongoing ROI over time or if once slimcoins are spent (without reward) they are fully spent i.e. 'burnt' ?

Somewhere in the thread you described PoB as being similar to buying mining equipment, which of course is not really guaranteed to provide any return on investment over time either. So, is it simply 'luck of the draw' i.e. random ? or does having 'burnt' PoB coins increase PoW etc.

- off to read the white paper fully and study the full source code etc.

Thanks!

[primer-]

slimcoin - please clarify if spent PoB coins provide any ongoing ROI over time or if once slimcoins are spent (without reward) they are fully spent i.e. 'burnt' ?

Somewhere in the thread you described PoB as being similar to buying mining equipment, which of course is not really guaranteed to provide any return on investment over time either. So, Is it simply 'luck of the draw' i.e. random ? or does having 'burnt' PoB coins increase PoW etc.

- off to read the white paper fully and study the full source code etc.

Thanks!

Dev is purposefully not answering questions which is sad.