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

[slimcoin]

do you need a screen shot ?

That would be nice to see, but don't worry, as long as listtransactions shows something it will work. I have not had this problem before and will try to fix it.

[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.

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?

At the very least its BAD. Dev kept us in the dark, whitepaper in no way explains how PoB works.

[SyRenity]

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?

At the very least its BAD. Dev kept us in the dark, whitepaper in no way explains how PoB works.

So to clarify, it's a pure gambling after all? With pure PoW one has % from total hash-rate chance of winning a block (roughly), while here one has to win the block and risk it all to get the PoB coins?

If yes, then it basically means that OPEX might be never returned - thus no way to predict the ROI.

[primer-]

Dev explain how a pool would help with the PoB situation ? Pool agregates all coins and burns XXX to get a reward of 50-60 ?

[primer-]

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?

At the very least its BAD. Dev kept us in the dark, whitepaper in no way explains how PoB works.

So to clarify, it's a pure gambling after all? With PoW one has % from total hash-rate chance of winning a block, but here one both has to win the block and risk it all to get the PoB coins?

No. Whoever burns the most gets the PoB block. PoW is the same as on other coins.

[SyRenity]

No. Whoever burns the most gets the PoB block. PoW is the same as on other coins.

So it's like an extra layer addition to PoW - one of the strategies is that you first mine these coins, then auto-burn them every block, getting a chance to win the PoB block.

Not clear how it supposed to protect against ASIC's and GPU then - whoever does the most on PoW, has the top chance to win PoB as well.

[primer-]

No. Whoever burns the most gets the PoB block. PoW is the same as on other coins.

So it's like an extra layer addition to PoW - one of the strategies is that you first mine these coins, then auto-burn them every block, getting a chance to win the PoB block.

Not clear how it supposed to protect against ASIC's and GPU then - whoever does the most on PoW, has the top chance to win PoB as well.

On top of that, whoever risks the most on burning has the biggest probability to get the PoB block.
Most of the stuff written in first post is bullshit.

[primer-]

Someone just killed 1000 amazon instances. Seems like people are giving up.

[reflector]

No. Whoever burns the most gets the PoB block. PoW is the same as on other coins.

So it's like an extra layer addition to PoW - one of the strategies is that you first mine these coins, then auto-burn them every block, getting a chance to win the PoB block.

Not clear how it supposed to protect against ASIC's and GPU then - whoever does the most on PoW, has the top chance to win PoB as well.

On top of that, whoever risks the most on burning has the biggest probability to get the PoB block.
Most of the stuff written in first post is bullshit.

Extremely vocal, and zero patience.  Very nice.

[primer-]

No. Whoever burns the most gets the PoB block. PoW is the same as on other coins.

So it's like an extra layer addition to PoW - one of the strategies is that you first mine these coins, then auto-burn them every block, getting a chance to win the PoB block.

Not clear how it supposed to protect against ASIC's and GPU then - whoever does the most on PoW, has the top chance to win PoB as well.

On top of that, whoever risks the most on burning has the biggest probability to get the PoB block.
Most of the stuff written in first post is bullshit.

Extremely vocal, and zero patience.  Very nice.

Patience for what ? We've been pulling words out of dev since the launch.

[TheRealSteve]

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.

Doesn't look like that prints out all blocks - might have to try with a fresh data dir.

Is the information not available in getblock?  I noticed there's the 'flags' for proof-of-work and stake-modifier , the code doesn't seem to have anything for burn there.  Might be good to add if not available elsewhere.

Edit: I suppose

Code:

nonce == 0

will have to do for now, although it's technically possible for a PoW to hit on the zero-nonce as well.  Can additionally check the mint value; if it's out of line with regular PoW blocks, confidence that it's a PoB block increases substantially.

[slimcoin]

Is it not that when you buy hardware you pay money? The burning of coins is paying money.

Not clear how it supposed to protect against ASIC's and GPU then - whoever does the most on PoW, has the top chance to win PoB as well.

That is how it turned out for the initial stages. Once people can buy coins on an exchange later on and more people get involved, the chance the people with the most PoW have at hitting a block will equalize to that of the rest of the people.

Patience

Patience is also needed, if you use the getburndata command in the debug console, you will se that currently, there have been about 2500 burnt coins already. If you have burned 45 coins, out of 50 PoB blocks, it is likely that 1 will be yours. Those 50 PoB blocks take time to be found.

[MOCKBA]

No. Whoever burns the most gets the PoB block. PoW is the same as on other coins.

So it's like an extra layer addition to PoW - one of the strategies is that you first mine these coins, then auto-burn them every block, getting a chance to win the PoB block.

Not clear how it supposed to protect against ASIC's and GPU then - whoever does the most on PoW, has the top chance to win PoB as well.

On top of that, whoever risks the most on burning has the biggest probability to get the PoB block.
Most of the stuff written in first post is bullshit.

Second that. I just don't see how PI that averages bellow 100 hashes per second could be competitive when wasting electricity overnight at 3kHs yielded no mined coins.

[xlcus]

do you have Mac wallet? Or any plan about it?

[sp00lin9]

So basically if I chose to hold the coins & not burn them, the only thing that would happen is I lower my chances of finding a block?

[primer-]

One important thing point out is :

IF YOU BURN 10 COINS AT BLOCK 777, YOU CAN ONLY GET A POB REWARD FOR THAT ONE BLOCK. BLOCK 778 AND NO POB REWARD ? BURNT COINS GONE FOREVER.

Decayed Burnt Coins - i dont see how this is relevent to anything and i dont understand what dev meant in the previous post.

[slimcoin]

how the hell you supposed to dig from a pi?

Digging from a pi is meant for PoB mining.

[glop]

do you need a screen shot ?

That would be nice to see, but don't worry, as long as listtransactions shows something it will work. I have not had this problem before and will try to fix it.

Hopes it is ok,

[slimcoin]

IF YOU BURN 10 COINS AT BLOCK 777, YOU CAN ONLY GET A POB REWARD FOR THAT ONE BLOCK. BLOCK 778 AND NO POB REWARD ? BURNT COINS GONE FOREVER.

Not at all, if you burn coins, you will be able to mine with them as long as your computer is on.

[primer-]

IF YOU BURN 10 COINS AT BLOCK 777, YOU CAN ONLY GET A POB REWARD FOR THAT ONE BLOCK. BLOCK 778 AND NO POB REWARD ? BURNT COINS GONE FOREVER.

Not at all, if you burn coins, you will be able to mine with them as long as your computer is on.

What ? Dev, please use google translate. No one here understands what happens when one burns coins.................  Mine with them as long as computer is on? Is this a joke ?