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

[slimcoin]

How is this probability calculated ? What stops someone burning 50 coins per block thus gaining 99% probability of hitting a PoB block ?

There is no probability calculated as part of the algorithm for PoB. A burn tx can generate 1 burn hash every time a new PoW block is found. The greater the value this burn tx has, the smaller the burn hash is, thus the more likely it is to be selected as valid. The PoB algorithm does not work by selecting a node at random from the network like a lottery, it is the equivalent of PoW, except without the powerful hardware. In PoW, the most important hash is the smallest one, the rest are disregarded. In PoB, that smallest hash equivalent is the burn hash. Nothing prevents someone from burning 50 coins per block as does nothing prevent someone from buying faster hardware this the coins they mined.

[1714875709]

1714875709

[1714875709]

1714875709

[1714875709]

1714875709

[1714875709]

1714875709

[1714875709]

1714875709

[slimcoin]

I would also like to know in how many years can 250 mil coins be produced ? At this rate few hundred years ?

At a steady rate of 50 coins per 90 seconds (~15 coins from PoW and ~35 from PoB), the 250 million coin total will be reached in about 15 years.

[primer-]

How is this probability calculated ? What stops someone burning 50 coins per block thus gaining 99% probability of hitting a PoB block ?

There is no probability calculated as part of the algorithm for PoB. A burn tx can generate 1 burn hash every time a new PoW block is found. The greater the value this burn tx has, the smaller the burn hash is, thus the more likely it is to be selected as valid. The PoB algorithm does not work by selecting a node at random from the network like a lottery, it is the equivalent of PoW, except without the powerful hardware. In PoW, the most important hash is the smallest one, the rest are disregarded. In PoB, that smallest hash equivalent is the burn hash. Nothing prevents someone from burning 50 coins per block as does nothing prevent someone from buying faster hardware this the coins they mined.

Ok so whoever burns the max amount of coins wins the PoB war. Good to know, i will stick to PoW.

[WhatDisk]

block 718 can not be pass
about 15 min...
oh..will done..
It pass..

[slimcoin]

Ok so whoever burns the max amount of coins wins the PoB war. Good to know, i will stick to PoW.

Unfortunately the initial stage turned out to be like this. Once this picks up and more people burn and a pool is made for PoB, the odds will equalize.

[primer-]

Ok so whoever burns the max amount of coins wins the PoB war. Good to know, i will stick to PoW.

Unfortunately the initial stage turned out to be like this. Once this picks up and more people burn and a pool is made for PoB, the odds will equalize.

Ok, you should have let us know on time, i lost many coins experimenting!

One more question, is there a luck factor at all ? If I burn 50 coins now, can someone who burnt only 1 get the PoB reward ?

[glop]

Example POB:

How many did you burn ?

I did 17 but so far decay 0.000339

[slimcoin]

One more question, is there a luck factor at all ? If I burn 50 coins now, can someone who burnt only 1 get the PoB reward ?

Yes they could, except relative to the guy that burned 50 coins, the person that burned 1 coin would have a 50 times smaller chance of finding a block. Once a pool is made, both will get coins but the 50 coins guy would get 50 times the reward the 1 coin guy will get.

[primer-]

One more question, is there a luck factor at all ? If I burn 50 coins now, can someone who burnt only 1 get the PoB reward ?

Yes they could, except relative to the guy that burned 50 coins, the person that burned 1 coin would have a 50 times smaller chance of finding a block. Once a pool is made, both will get coins but the 50 coins guy would get 50 times the reward the 1 coin guy will get.

Wow. Such broken concept.

[slimcoin]

I did 17 but so far decay 0.000339

To explain clearly, decayed coins represents the amount of burnt coins that go "innactive" (in a way). There is a factor where if one burns 100 coins, in about 1 years time, those same 100 burnt coins burnt would have the same power as 50 new coins burnt. In another year, they would have the same power as 25 burnt coins, etc. The effectiveness of burnt coins halves about every 1 year. Ex: If 20 coins were burned and it says 1 coins decayed, that means that those 20 coins have the same power as 19 freshly burned coins.

[primer-]

I did 17 but so far decay 0.000339

To explain clearly, decayed coins represents the amount of burnt coins that go "innactive" (in a way). There is a factor where if one burns 100 coins, in about 1 years time, those same 100 burnt coins burnt would have the same power as 50 new coins burnt. In another year, they would have the same power as 25 burnt coins, etc. The effectiveness of burnt coins halves about every 1 year. Ex: If 20 coins were burned and it says 1 coins decayed, that means that those 20 coins have the same power as 19 freshly burned coins.

And why should we care about this ? they are gone. Just like my 45 coins burned a minute ago. I am not getting them back ever. Who hired you dev, gambling industry ? I'd rather gamble on primedice, better ods.

Correct me if i am wrong but what you wrote above is that coins we burn now actually matter but in one year they will not be worth as much as they ar enow ?

[glop]

One more question, is there a luck factor at all ? If I burn 50 coins now, can someone who burnt only 1 get the PoB reward ?

Yes they could, except relative to the guy that burned 50 coins, the person that burned 1 coin would have a 50 times smaller chance of finding a block. Once a pool is made, both will get coins but the 50 coins guy would get 50 times the reward the 1 coin guy will get.

  I use linux debian and I have compiled myself the wallet from source. When I receive a mined transaction it should appear in the Unconfirmed but the counter is alway 0.0.

  IE:  Actually I have two Unconfirmed transaction 1mined (with 372 confirm so far) and 1minted (burn with 16 confirm so far). I should see something in the unconfirmed balance isn't it ?

[kdfspam]

To quote Yukon Cornelius.  "Nothing"

[slimcoin]

  IE:  Actually I have two Unconfirmed transaction 1mined (with 372 confirm so far) and 1minted (burn with 16 confirm so far). I should see something in the unconfirmed balance isn't it ?

You should, try going to the debug console and type listtransactions. Post the output here.

[atleticofa]

WTB some coins. Send me PM  

[primer-]

Can we look at the blockchain to see how many coins burnt were awarded PoB blocks ?

[glop]

  IE:  Actually I have two Unconfirmed transaction 1mined (with 372 confirm so far) and 1minted (burn with 16 confirm so far). I should see something in the unconfirmed balance isn't it ?

You should, try going to the debug console and type listtransactions. Post the output here.

Here the transactions

[
{
"account" : "",
"category" : "generate",
"amount" : 17.84000000,
"confirmations" : 575,
"blockhash" : "000000182aea373dd7e7ec4d544db56e345abc0948fcc18f2f98b8a1321ca3e8",
"blockindex" : 0,
"txid" : "4d882345c5f3847a5902f09823aea8914e13ee2bb834df7ff35e34f97938d5e5",
"time" : 1401323913,
"comment" : "",
"message" : "",
"to" : ""
},
{
"account" : "",
"category" : "immature",
"amount" : 17.76000000,
"confirmations" : 381,
"blockhash" : "000000170c059e39b968a373d43bd31e6a0a4f3c852a3f9196945ee280b4b087",
"blockindex" : 0,
"txid" : "b1a38ae25ac7ba64faee4cc660d78ba4701efad3a66171d64a441f232d73d126",
"time" : 1401341992,
"comment" : "",
"message" : "",
"to" : ""
},
{
"account" : "",
"address" : "SfSLMCoinMainNetworkBurnAddr1DeTK5",
"category" : "send",
"amount" : -10.00000000,
"fee" : -0.01000000,
"confirmations" : 44,
"blockhash" : "00000015dbe98da4109c508a90f7a75f4af50957a3813c64e6a90506084fe7b2",
"blockindex" : 2,
"txid" : "19fce4cf7a5e3da3fafce2d6d50e43f49b7739be7de67b5b8168dc87773b6f8e",
"time" : 1401373306
},
{
"account" : "",
"address" : "SfSLMCoinMainNetworkBurnAddr1DeTK5",
"category" : "send",
"amount" : -7.00000000,
"fee" : -0.01000000,
"confirmations" : 29,
"blockhash" : "00000025665c25f761398550a1c6db4ebab75fde1de294ad10c4c921be645d13",
"blockindex" : 1,
"txid" : "c77c9990641db2f1a4df2633f9babc40a24a81034c557acf4d40f0c23d9f55b8",
"time" : 1401375080
},
{
"account" : "",
"category" : "immature",
"amount" : 52.39000000,
"confirmations" : 25,
"blockhash" : "1398ebb0d12aa1c9dab41b3f3439e4a3e9feb3e210a1f931e34601e81e01eaee",
"blockindex" : 0,
"txid" : "97073062741a96bd835d26ae38da6112ae857d0ea6a1ddee153df2412f51d548",
"time" : 1401375311
}
]

[DeathAndTaxes]

One more question, is there a luck factor at all ? If I burn 50 coins now, can someone who burnt only 1 get the PoB reward ?

Yes they could, except relative to the guy that burned 50 coins, the person that burned 1 coin would have a 50 times smaller chance of finding a block. Once a pool is made, both will get coins but the 50 coins guy would get 50 times the reward the 1 coin guy will get.

Wow. Such broken concept.

If I have 50 TH/s and you have 1 TH/s I will on average get 50x the reward.  Is that also a broken concept?

[glop]

  IE:  Actually I have two Unconfirmed transaction 1mined (with 372 confirm so far) and 1minted (burn with 16 confirm so far). I should see something in the unconfirmed balance isn't it ?

You should, try going to the debug console and type listtransactions. Post the output here.

Here the transactions

[
{
"account" : "",
"category" : "generate",
"amount" : 17.84000000,
"confirmations" : 575,
"blockhash" : "000000182aea373dd7e7ec4d544db56e345abc0948fcc18f2f98b8a1321ca3e8",
"blockindex" : 0,
"txid" : "4d882345c5f3847a5902f09823aea8914e13ee2bb834df7ff35e34f97938d5e5",
"time" : 1401323913,
"comment" : "",
"message" : "",
"to" : ""
},
{
"account" : "",
"category" : "immature",
"amount" : 17.76000000,
"confirmations" : 381,
"blockhash" : "000000170c059e39b968a373d43bd31e6a0a4f3c852a3f9196945ee280b4b087",
"blockindex" : 0,
"txid" : "b1a38ae25ac7ba64faee4cc660d78ba4701efad3a66171d64a441f232d73d126",
"time" : 1401341992,
"comment" : "",
"message" : "",
"to" : ""
},
{
"account" : "",
"address" : "SfSLMCoinMainNetworkBurnAddr1DeTK5",
"category" : "send",
"amount" : -10.00000000,
"fee" : -0.01000000,
"confirmations" : 44,
"blockhash" : "00000015dbe98da4109c508a90f7a75f4af50957a3813c64e6a90506084fe7b2",
"blockindex" : 2,
"txid" : "19fce4cf7a5e3da3fafce2d6d50e43f49b7739be7de67b5b8168dc87773b6f8e",
"time" : 1401373306
},
{
"account" : "",
"address" : "SfSLMCoinMainNetworkBurnAddr1DeTK5",
"category" : "send",
"amount" : -7.00000000,
"fee" : -0.01000000,
"confirmations" : 29,
"blockhash" : "00000025665c25f761398550a1c6db4ebab75fde1de294ad10c4c921be645d13",
"blockindex" : 1,
"txid" : "c77c9990641db2f1a4df2633f9babc40a24a81034c557acf4d40f0c23d9f55b8",
"time" : 1401375080
},
{
"account" : "",
"category" : "immature",
"amount" : 52.39000000,
"confirmations" : 25,
"blockhash" : "1398ebb0d12aa1c9dab41b3f3439e4a3e9feb3e210a1f931e34601e81e01eaee",
"blockindex" : 0,
"txid" : "97073062741a96bd835d26ae38da6112ae857d0ea6a1ddee153df2412f51d548",
"time" : 1401375311
}
]

do you need a screen shot ?

[slimcoin]

Can we look at the blockchain to see how many coins burnt were awarded PoB blocks ?

There is no blockchain parser yet for Slimcoin. You can see how many PoB blocks have been found by staring the client up with the -printtoconsole flag or look at the debug file. You should see as the blockchain index is being loaded: num ----------------------------- num num num num num num num From the numbers after the dashes, if the second one is 1, that means the block at the height (the num before the dashes) is a PoB block.