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

[flaminius]

Interesting... downloading the blockchain now and looking forward to mining.

[kbs1]

So what will happen when I find a PoB block? When will I find it? So far burned 1.430847 SLM, running slimcoind -daemon 24/7 and nothing for three days. How can I verify it is working properly? slimcoind calcburnhash always says "unable to calculate burn hash" and with printAnyways option set to true the hash is all f's.

That's too little burnt coins to generate something in a long long time

Yay I found a PoB block! Wallet shows type "Mint by burn", Amount shows 28.967256; 324 confirmations. However when I double click the transaction I get:

Code:

Status: 324 confirmations
Date: 6/26/14 18:37
From: unknown
To: SiQhkWv9BaCSeUyfgNuLvE9AjFXXtDudgP (yours)
Credit: 0.1048 SLM
Net amount: +0.1048 SLM
Transaction ID: b818968023b45e6000319e1da3136acf88b58cc6f6a163d807d076d1990cb2cd

How come? Wallet balance is no close to 28 SLM. Are 510 confirmations needed again or did I really get just 0.1048 SLM? Why does 'Amount' show 28.967256 then?

bug, ignore the transaction tab for "mint by burn"

to see if you acually burned something, type the following in the debug window

Code:

listtransactions "*" true

No I have not Oh well

[Agamemnus]

Why slimcoin wallet use so much CPU?

[jadefalke]

trading @bter is open again

[ShadowOfScales]

Why slimcoin wallet use so much CPU?

It used to use less, I imagine it's part of the fork-prevention, look through the code and fine out for us if you're willing.

[JohnDorien]

Did someone calculate what a target price should be in terms of profitable or at least cost-paying mining?

[ShadowOfScales]

trading @bter is open again

I hope primer- cares about this coin enough to not simply dump it all, considering how much of the total coins I imagine they have.

[primer-]

trading @bter is open again

I hope primer- cares about this coin enough to not simply dump it all, considering how much of the total coins I imagine they have.

Dumpers are inevitable now that the exchange is open again. Let the weak hands leave, in 1-2 weeks price should be back to 0.001-0.002

[glop]

Why slimcoin wallet use so much CPU?

 Because you' re CPU mining........ to desactivate CPU mining type setgenerate false into the console

[Agamemnus]

Why slimcoin wallet use so much CPU?

 Because you' re CPU mining........ to desactivate CPU mining type setgenerate false into the console

I typed that into console and it changes nothing. It's using 23% of my CPU. The minerd program you're looking at is something else entirely.

There's no good reason for a wallet to use 23% of an i5-2500K. I can have 10 different wallets open and they don't crack 5% combined.

[primer-]

Why slimcoin wallet use so much CPU?

 Because you' re CPU mining........ to desactivate CPU mining type setgenerate false into the console

I typed that into console and it changes nothing. It's using 23% of my CPU. The minerd program you're looking at is something else entirely.

There's no good reason for a wallet to use 23% of an i5-2500K. I can have 10 different wallets open and they don't crack 5% combined.

There is a bug in the code for PoS/PoB minting.. PoS minting is taking up more resources than it should. Take a look at my post couple of pages back, i could not even run the wallet with couple of thousand coins on it as it was using 100% cpu for pos minting..

EDIT : Workaround : move all coins to a new wallet. You are good for one week (or month, forgot when PoS takes place)

[primer-]

Dump fest at BTER , as expected My sell order is set at 002

[chiguireitor]

Dump fest at BTER , as expected My sell order is set at 002

I don't even have sell orders, i burned it all....

[primer-]

Dump fest at BTER , as expected My sell order is set at 002

I don't even have sell orders, i burned it all....

Whats the correct tense - i burned it all or i burnt it all ? To me both sound correct ?

EDIT : I was correct : http://www.quickanddirtytips.com/education/grammar/burned-versus-burnt
US = burned
GB = burnt

[chiguireitor]

Dump fest at BTER , as expected My sell order is set at 002

I don't even have sell orders, i burned it all....

Whats the correct tense - i burned it all or i burnt it all ? To me both sound correct ?

EDIT : I was correct : http://www.quickanddirtytips.com/education/grammar/burned-versus-burnt
US = burned
GB = burnt

Welp, english isn't my mother language... so bear with me This is one of the "niceties" of learning english from a pretty much orthogonal language.

[sp00lin9]

Dev, can we get the OP updated with a to do list? Or possibly a road map?

The community should update my list with things they'd like to see for the dev to review & hopefully implement!

I'll start it off-
1. Block explorer
2. Get on coinmarketcap

[Hobocc]

dead coin?

[chiguireitor]

dead coin?

roflol

[sp00lin9]

web page down, page with the white paper down. looking bad.

It's just being updated [:

[telemaco]

I hope the dev has not left. Nothing that the developer of course does not know already. But this coin is just an absolutely wonderful idea that can start a new breed of coins.

Just some thoughts, i hope i didn't get them wrong

- Proof of Burn
      - Technological independence
            - Mining with almost any hardware with the same possibilities as those with advanced one
                  - More spreaded
                  - More fair
                  - Many different hardware configurations could be used for maximum spread and adoption
                            - Mobile phones
                            - Router
                            - TV
                            - Your PC
                            - whatever
            - Asic resistant
                  - Money normally invested on Asics goes directed to the slimcoin economy instead of leaving crypto economy. Can you imagine bitcoin without price selling 3600 coins every day to feed miners?
                  - No need to wait for asic orders to manufacturers (no scams, no delays)
                  - The equipment manufacturers are not on a single country with monopoly on chips (it gives resistance to technology industry manufacturers centralization attacks)
                  - Pool resistant, although there can be POW pools they will never get a 51% of the network
                  - Easy to calculate the ROI of your "POB mining operation" just knowing the total amount of burned coins at the moment and your share of those. You can just burn a few more if needed instantly. No need to montly plans with preorders (available to everyone and easy)
            - Solves the limited number of node problem bitcoin suffers, because everybody can have its own farming factory on its pc, or in its mobile and it is incentivized.
      - Energy independence (no need for a huge industrial area to setup your mining farm, just your wallet is needed)
            - The network can be spreaded all over the world, not just on zones with cheap electricity (it gives resistance to cheapest electricity centralization attacks & it also gives maximum and fair node spread)
            - Ecological
      - It could be the coin for the "Internet of things" where the blockchain trust technology could be adopted for any device, your fridge, your mobile, etc.
      - Proof of Burn shows the path for other ideas like "investment" possiblities on the same wallet. You just burn and you get some ROI attached to the same mining protocol. Maybe even a lend/borrowing model could be added?
      - Maybe even the proof of burn could be used to add anonimity. You have a second button on your wallet "anonimize". and you press it and enter the number of coins to anonimize, those get burned and you receive in a totally different address on the same wallet, other burned coins.  After all there is a huge repository of burned coins (well disregard if it does not make too much sense)

Really really interesting coin,

Please developer continue with this one, it is just an awesome idea.