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

[TheRealSteve]

no exchange

1 page back. 1 page. 1.

SLIM/BTC has been added to https://exarena.net/markets/slim-btc/
Happy trading

[chiguireitor]

Been mining this since minute 0, here are my two uSLIMs:

• PoW is pretty difficult because there's only solo mining currently. With around 2.5 KH/s you get roughly 1 block daily. That's pretty good considering network hash has been steadily rising.
• PoB is the same as mining contracts! This is great, because every miner doing PoB has the same probability of hitting PoB blocks. Further burning coins is like extending your mining contract, not contracting more hashing power.
• You can know how much of your burnt coins has been used to hash on PoB via the decay feature. Decay/Confirmed Burnt coins = Percentage done of the "mining contract".
• DCrypt is nice and all, but i don't see it as a very ASIC resistant hash. If PoW will be enabled on later phases (as it should be) there will be definitively interest on creating ASICs because the coin will be VERY scarce due to burn rates.
• I'm liking the order book in exarena, a push to get this listed on http://sharexcoin.com would be great.
• Thread dwellers beware: Feeding trolls is against your best interest. Don't feed the trolls http://www.zoomnews.es/sites/default/files/images/old/dont_feed_the_troll.jpg

[chiguireitor]

getting SLM is way too hard..
no pools after 2 days
no exchange
people who got the early blocks are burning more and more coins to maintain their POB dominance.
I think many people are losing interest

It appears to me personally there's more luck involved here than with other coin/algos/so on.. one pc of me found 2 blocks at 4 cores only, while a 16 core server only hit one... since then nothing but 4 PoW blocks... after loads of burned coins...

Interesting concept here though, pools seem to be needed

Indeed, as someone who usually solo mines, this coin is fairly standard on block finding. The net hashrate is very high currently, hence why you don't see a lot of coins reaching your wallet.

[Stormbringer]

Confirmations are taking too long!

"mined balance will be avail in 435 blocks"

[chiguireitor]

Confirmations are taking too long!

"mined balance will be avail in 435 blocks"

The intention is to prevent pump & dump

[maxpower]

Been mining this since minute 0, here are my two uSLIMs:

• PoW is pretty difficult because there's only solo mining currently. With around 2.5 KH/s you get roughly 1 block daily. That's pretty good considering network hash has been steadily rising.
• PoB is the same as mining contracts! This is great, because every miner doing PoB has the same probability of hitting PoB blocks. Further burning coins is like extending your mining contract, not contracting more hashing power.
• You can know how much of your burnt coins has been used to hash on PoB via the decay feature. Decay/Confirmed Burnt coins = Percentage done of the "mining contract".
• DCrypt is nice and all, but i don't see it as a very ASIC resistant hash. If PoW will be enabled on later phases (as it should be) there will be definitively interest on creating ASICs because the coin will be VERY scarce due to burn rates.
• I'm liking the order book in exarena, a push to get this listed on http://sharexcoin.com would be great.
• Thread dwellers beware: Feeding trolls is against your best interest. Don't feed the trolls http://www.zoomnews.es/sites/default/files/images/old/dont_feed_the_troll.jpg

This is a great explanation of PoB. Thank you!

[Stormbringer]

Confirmations are taking too long!

"mined balance will be avail in 435 blocks"

The intention is to prevent pump & dump

OK, I was eager to start burning but now I have to wait whole day maybe,
also there is possibility that coins go void:

If it fails to get into the chain, it will change to "not accepted" and not be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.

[chiguireitor]

Confirmations are taking too long!

"mined balance will be avail in 435 blocks"

The intention is to prevent pump & dump

OK, I was eager to start burning but now I have to wait whole day maybe,
also there is possibility that coins go void:

If it fails to get into the chain, it will change to "not accepted" and not be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.

Orphans are detected quickly... don't worry... if you get confirmations it is maturing, but you won't get your block rejected.

[BitcoinFX]

Confirmations are taking too long!

"mined balance will be avail in 435 blocks"

The intention is to prevent pump & dump

OK, I was eager to start burning but now I have to wait whole day maybe,
also there is possibility that coins go void:

If it fails to get into the chain, it will change to "not accepted" and not be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.

You should now have a number of confirmations on the mined block, so it will eventually be added to your SLM balance. The above text is really a standard notification in regards to how PoW blocks are generated and is much more relevant to coins with lower block times also using fewer confirmations, however this is always applicable to PoW block generation - mostly when solo mining.

Trying to solo mine PoW blocks is still well worth the effort. It might take 2 days or more to find a PoW block at the current difficulty, however the overall reward is likely to be much more than if you could mine in a Slimcoin pool for the same duration at present. When pools are set-up for Slimcoin you can expect that their will be even more people mining and the network hash rate will see a big increase, again lowering the PoW block rewards.

Building a working pool for Slimcoin requires the technical know-how to get it up and running and working properly. This is a new kind of algorithm / block reward system - thus we are likely to see much fewer, although quality pools being set-up - it will be very similar to how Primecoin pools (and mining) evolved in this regard. People are busy with getting a pool up and running, for sure.

Again, its still well worth trying to solo mine a PoW block to get started with PoB.

[BitcoinFX]

There goes my stash...

https://www.youtube.com/watch?v=gGmAaBgSFj8

https://wikipedia.org/wiki/K_Foundation_Burn_a_Million_Quid
 

shocked！If the price of this coin is 0.01BTC, guys you really burns USD

Again, you gotta speculate to accumulate...

~ https://www.youtube.com/watch?v=6ifNTb1Xx_I  

~ https://www.youtube.com/watch?v=rCCzf8PrdjI - would like to thank 'THE FIVE' ...

[Stormbringer]

OK, thx, I'll wait to be confirmed,
after that is it the best to put them all in burn transaction, or made few small burn transaction, is that matter for the amount of coins gained through burn?

[chiguireitor]

OK, thx, I'll wait to be confirmed,
after that is it the best to put them all in burn transaction, or made few small burn transaction, is that matter for the amount of coins gained through burn?

As i said on my previous post:

PoB is the same as mining contracts! This is great, because every miner doing PoB has the same probability of hitting PoB blocks. Further burning coins is like extending your mining contract, not contracting more hashing power.

[freeworm]

SLM is added to Bter.com 's BTC market at

https://bter.com/trade/slm_btc

You can deposit at

https://bter.com/myaccount/deposit/SLM

[primer-]

SLM is added to Bter.com 's BTC market at

https://bter.com/trade/slm_btc

You can deposit at

https://bter.com/myaccount/deposit/SLM

wow.

[poon4]

my computer have i3 cpu,,so can i solo this coin?

[ltcnim]

my computer have i3 cpu,,so can i solo this coin?

if my CubieBoard can find a block, an i3 can find a block, too. But you will need to be patient

[sandor111]

Seems like there won't be any pools anytime soon. The wallet doesn't even support "getblocktemplate", only "getwork" which is for solo mining mostly (and deprecated).
Such a disappointment, I thought this coin had potential with PoB and all.

[DKdance]

Hi,

Why no .conf, why just some addnode ? What is setgenerate true ? I even not understand if it's cpu or gpu mining.

[LivingDeath]

Cannot open wallet anymore. Tells me: "Error loading blkindex.dat"
What to do now?

[Watercooler]

Can't get passed block 624, so I cannot start mining this coin