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

[yuchengTec]

Popular misconception:

currently i turned off after i burned coin...even I restart the wallet...so the coins which I used to burn are no longer work for me?? that's means these coins are wasted??

No, it means that when you turn off (close) your wallet, you will not be PoB mining. When you turn it on again, you are up and mining using the burnt coins from before.

thanks for your explain.

[whatsabitworth]

I had to restart my pc but when I went to re-open the slim wallet I get an

error loading blkindex.dat message.

how do I restore my wallet?

[primer-]

Do we have to PoW mine in order to PoB mine ? I am getting way less, if any PoB blocks when my PoW mining is off

[pozmu]

Dang it, missed the launch due to some family issues now my chances of getting Slimcoins are really slim 

[Givatoshi_Moremoto]

almost 50% of money supply being burnt for PoB.
almost 20k coins burnt out of 40k total minted
unless you found early blocks and kept burning 50% of your PoB rewards, you have little to no chance of finding PoB blocks
I burnt 50 coins on first day, and found 3 PoB blocks and nothing else so far
unfortunately this is turning out to be very centralized distribution

[yuchengTec]

one day didnt get any coin after burning.

[yuchengTec]

almost 50% of money supply being burnt for PoB.
almost 20k coins burnt out of 40k total minted
unless you found early blocks and kept burning 50% of your PoB rewards, you have little to no chance of finding PoB blocks
I burnt 50 coins on first day, and found 3 PoB blocks and nothing else so far
unfortunately this is turning out to be very centralized distribution

yep.. one day no coins out...

[primer-]

almost 50% of money supply being burnt for PoB.
almost 20k coins burnt out of 40k total minted
unless you found early blocks and kept burning 50% of your PoB rewards, you have little to no chance of finding PoB blocks
I burnt 50 coins on first day, and found 3 PoB blocks and nothing else so far
unfortunately this is turning out to be very centralized distribution

Its been one day only, give it some time, you've got a year to go before they decay.

[chiguireitor]

almost 50% of money supply being burnt for PoB.
almost 20k coins burnt out of 40k total minted
unless you found early blocks and kept burning 50% of your PoB rewards, you have little to no chance of finding PoB blocks
I burnt 50 coins on first day, and found 3 PoB blocks and nothing else so far
unfortunately this is turning out to be very centralized distribution

I didn't get anything the first 2 days... i'm now getting PoB blocks steadily thanks to the only PoW block i found.

Seems to me that it has been one of the fairest distributions in recent time.

[reflector]

Somebody call the ghostbusters.  Slimecoin about to go insane.

1 SLIME = .1 BTC by Sunday

[chiguireitor]

Thanks for not quoting the entire post - it vexes me greatly (insofar as anything on the interwebs is vexing) when people do that

...

Forcing - a pretty arbitrary measure of how the hash rate is affecting the difficulty.  There's several ways to graph this, but I settled on this one due to the difficulty being adjusted each block.

If a block is found in half the time that is intended (the intended duration between blocks, for a coin with a fixed duration - for Slimcoin that's 90 seconds) to be found, then there's a 2x forcing factor.  If a block is found in twice the time, then there's a -2x (actually 0.5, but LibreOffice doesn't seem to offer the appropriate graphing style when using fractions) forcing factor.  Ideally they should all hover around +1 and -1, and all is well.  Right now, a majority of them (not by much though) sit at greater-than +1, meaning hash rate overall is climbing.
( For Bitcoin, for example, this is pretty much the case since the last drop in hash rate due to market panic - ever since, the influx of hash rates has been greater than the adjustment (every ~2016 blocks) keeps up, resulting in difficulty adjustments every ~12 days, instead of the intended 14 days. )

You might also see a few samples between -1 and +1 - these shouldn't be happening, as they're the result of the time difference between two subsequent blocks being negative.  As far as I understand it from the Bitcoin network, the timestamp is pretty much supplied by the miner, and their clock is allowed to be off by some amount of time, which can result in block N being at time t, and block N+1 being at time t-x .  Thankfully, these are rare
Though if the miner behind, say, Block 1400 could check that their miner is actually syncing with an NTP server, that'd be great as their clock is ~5-7 minutes fast

The histogram just makes it a bit easier to interpret than the cloud of dots - it counts each value as it occurs between two whole numbers.  The exact number isn't that interesting, the occurrence relative to other bins is.

This is very interesting. It means the network is converging to a very appropiate block reward for both PoW and PoB in no time. I like this method of distribution so far. No giveaway BS and no supposedly fair contests, just plain old statistical rewards and convergence of block rewards.

@slimcoin How much coins should i burn to have PoB minting for a year?

[Givatoshi_Moremoto]

almost 50% of money supply being burnt for PoB.
almost 20k coins burnt out of 40k total minted
unless you found early blocks and kept burning 50% of your PoB rewards, you have little to no chance of finding PoB blocks
I burnt 50 coins on first day, and found 3 PoB blocks and nothing else so far
unfortunately this is turning out to be very centralized distribution

Its been one day only, give it some time, you've got a year to go before they decay.

My probability of finding PoB with 50 burnt coins are about 0.25%, which is 1 out of 400, and the % is getting smaller very quickly. It was at one point 1.47%, but I couldn't increase my PoB investment because I couldn't get more coins to invest. By the time my PoB blocks matured, which took 12 hrs, total burnt coins went from 3000 to 20000. even if I invest all of my PoB coins, I won't be able to compete with bigger farmers who have invested more in PoB earlier.

its not a discussion of patience. I'm talking about the fundamental flaw here.
if the PoB was distributed by %, it would be like pool mining, where you get your small share.
but PoB in itself is like solo mining, where big farmers are getting the whole block.
so If you found early blocks and invested most of your coins to PoB, you can maintain your monopoly because you'll be getting majority of PoB blocks. small miner have no chance of increasing your chance of finding PoB blocks since you won't be able to get more coins to invest more.

I doubt any small farmers are going spent 1-10 btc and burn them all just so you can have higher chance of finding PoB blocks. The monopoly will be maintained by the bigger farmers by investing big % of their PoB reward constantly until it will cost so much money to overcome it.

Edit: Even if you're willing to invest your BTC to burn, majority of supply will be controlled by the big PoB share holders and they won't let go of their monopoly for few BTCs, currently if you buy all of the SLM in market, and burn them all, you could only increase your chance by 2%. This looks like a carefully orchestrated monopoly by design.
whoever gains control of it in first 24 hours, will maintain their control forever.

needless to say, I will mine when there is a pool, but I won't be burning anymore.

[slimcoin]

Slimcoin client fixed for failure while loading the blkindex.dat file.

Update your wallets

Binaries are available here: https://github.com/slimcoin/slicmoin-executable
Source is available here: https://github.com/slimcoin/slimcoin

[primer-]

Slimcoin client fixed for failure while loading the blkindex.dat file.

Update your wallets

Binaries are available here: https://github.com/slimcoin/slicmoin-executable
Source is available here: https://github.com/slimcoin/slimcoin

Anything else fixed other than the failure while loading ?

[Djinou94]

What is the difference between the coins we find on the blocks and the coins once burned?

When i buy 1 SLM on the exchange is it a coin after burned or before?  

[slimcoin]

When i buy 1 SLM on the exchange is it a coin after burned or before?

You can buy a coin on an exchange and burn it. Once it has been burnt you can start PoB mining with it, but that 1 coin you burnt is destroyed.

[reflector]

What is the difference between the coins we find on the blocks and the coins once burned?

When i buy 1 SLM on the exchange is it a coin after burned or before?  

Before, but could be produced from a different burnt coin.

[reflector]

Slimcoin client fixed for failure while loading the blkindex.dat file.

Update your wallets

Binaries are available here: https://github.com/slimcoin/slicmoin-executable
Source is available here: https://github.com/slimcoin/slimcoin

If I were to delete everything in my wallet except for wallet.dat and slimcoin.conf in order to install the new daemon, would I lose my unconfirmed coins?

[Djinou94]

Hum i do not undestand but i will try to burn 1 coin to see what happen  

But if i burned my coins i will lost them so is it not better to keep them and not burn? 

[primer-]

Hum i do not undestand but i will try to burn 1 coin to see what happen  

But if i burned my coins i will lost them so is it not better to keep them and not burn? 

You live only once.