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

[d5000]

Watching closely! This coin could be great, in my eyes it's more innovative than Nxt & similars!

Anybody knows how many coins are in circulation at the moment? Block explorer does not show it

On which Peercoin version is it based?

in the debug window you can do the rpc command "getinfo" to see the moneysupply

moneysupply" : 419187.12857800,

then ofcourse subtract the burnt amount which you can see by typing in the rpc command "getburndata"

"Formatted nEffectiveBurnCoins" : "176841.273964"

419187.128578 - 176841.273964 = 242345.854614 SLIM in circulation

Thanks! That's very helpful. I want to look a bit closer at the inflation/supply dynamics of the coin.

[95A31]

95A31: Could you convert those patches to pull requests on Github.

Done  . The IRC channel is on FreeNode?

[ShadowOfScales]

So for a mining noob, how do I mine this coin?

Get the wallet, run it and get an address + sync.
get the miner, here's an example .bat file:

minerd -o stratum+tcp://pool.slimcoinpool.com:3333 -u ADDRESS -p x -t NUMBERofThreads(Cores, double that if hyperthreaded)
you can one of the other pools, but this pool is the easiest, no signup necessary.
Simply replace the "ADDRESS" with the address in your Slimcoin wallet, and NUMBERofThreads with the amount of CPU threads you want mining., save it as a .bat file in the same folder as the miner, and run it.
I'm terrible at explaining things, so if you need more help, I'm sure someone else in the community can explain better than I.

[kbs1]

In the update coming soon, that will be the only issue left since I was unable to reproduce the issue and have no idea where it is coming from.
Some have said it is the PoS. All I can say now is, if you want to disable PoS, just start the client with -reservebalance=9999999. That basically says start PoS minting when you have more than 9999999 coins.

There are so many issues to fix, one of them is high CPU usage from PoS, other is fake 'mint by burn' transactions shown in wallet... then some others listed in this thread.

The question is, how much CPU should PoS take? Currently at ~60% CPU, wallet has 270 transactions.

 

Code:

PID USER      PR  NI    VIRT    RES    SHR S  %CPU %MEM     TIME+ COMMAND     
1771 kbs1      20   0 1088724 101924  55580 S  57.8  2.7   8:37.06 slimcoin-qt

[reflector]

In the update coming soon, that will be the only issue left since I was unable to reproduce the issue and have no idea where it is coming from.
Some have said it is the PoS. All I can say now is, if you want to disable PoS, just start the client with -reservebalance=9999999. That basically says start PoS minting when you have more than 9999999 coins.

There are so many issues to fix, one of them is high CPU usage from PoS, other is fake 'mint by burn' transactions shown in wallet... then some others listed in this thread.

The question is, how much CPU should PoS take? Currently at ~60% CPU, wallet has 270 transactions.

 

Code:

PID USER      PR  NI    VIRT    RES    SHR S  %CPU %MEM     TIME+ COMMAND     
1771 kbs1      20   0 1088724 101924  55580 S  57.8  2.7   8:37.06 slimcoin-qt

Maybe the CPU usage issue only occurs with the qt?  I haven't had any problems with the daemon...

[slimcoin]

I did my testing on the daemon, non-gui client. I will try them on the qt to see if there are any issues there. Also, I will look into the GUI bugs with displaying mint by burn etc.

[tz]

WARNING: Checkpoint is too old. Wait for block chain to download, or notify developers of the issue.

[slimcoin]

WARNING: Checkpoint is too old. Wait for block chain to download, or notify developers of the issue.

"Wait for block chain to download"

How long has it been like this. Are you downloading the blockchain now?

[Attack.of.the.Clones]

This is a really interesting coin. Can someone explain the different terms in the client?

decayed burnt coins
immature burnt coins
effective burnt coins
net burnt coins

I don't get fully what's going on, so I don't know how many coins I should burn.

cheers

[slimcoin]

This is a really interesting coin. Can someone explain the different terms in the client?

decayed burnt coins
immature burnt coins
effective burnt coins
net burnt coins

I don't get fully what's going on, so I don't know how many coins I should burn.

cheers

decayed burnt coins: Your amount of your burnt coins that are now inactive, gone, no longer mining in a sense
immature burnt coins: Your amount of burnt coins that are not mining yet, since they have to have a certain depth in the blockchain to start mining
effective burnt coins: Your amount of burnt coins that are currently mining
net burnt coins: The total amount of coins that you have burned.

[primer-]

For the 100th time, THERE IS A BLOCK PROPAGATION ISSUE WITH THE WALLET! IT GOES OUT OF SYNC EVERY COUPLE OF HOURS.

At this very moment i have 15 wallets open (same wallet.dat file, compiled using latest code from github)
1 hour ago i burned 200 slims. Only 3 wallets out of 15 showed the updated balance. It took the other 12 wallets 24 minutes to show updated balance.

While troubleshooting the issue, i tried sending 1slm from one of the stuck wallets. As soon as I broadcasted the transaction it started syncing. This explains why sandors pool wallet has no sync issues, it has a constant flux of incoming and outgoing transactions.

[apesconcert]

For the 100th time, THERE IS A BLOCK PROPAGATION ISSUE WITH THE WALLET! IT GOES OUT OF SYNC EVERY COUPLE OF HOURS.

At this very moment i have 15 wallets open (same wallet.dat file, compiled using latest code from github)
1 hour ago i burned 200 slims. Only 3 wallets out of 15 showed the updated balance. It took the other 12 wallets 24 minutes to show updated balance.

While troubleshooting the issue, i tried sending 1slm from one of the stuck wallets. As soon as I broadcasted the transaction it started syncing. This explains why sandors pool wallet has no sync issues, it has a constant flux of incoming and outgoing transactions.

It looks like a relatively minor issue, nothing which could derail the whole system.

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[primer-]

For the 100th time, THERE IS A BLOCK PROPAGATION ISSUE WITH THE WALLET! IT GOES OUT OF SYNC EVERY COUPLE OF HOURS.

At this very moment i have 15 wallets open (same wallet.dat file, compiled using latest code from github)
1 hour ago i burned 200 slims. Only 3 wallets out of 15 showed the updated balance. It took the other 12 wallets 24 minutes to show updated balance.

While troubleshooting the issue, i tried sending 1slm from one of the stuck wallets. As soon as I broadcasted the transaction it started syncing. This explains why sandors pool wallet has no sync issues, it has a constant flux of incoming and outgoing transactions.

It looks like a relatively minor issue, nothing which could derail the whole system.

 

Good luck minting PoB!!

[chiguireitor]

For the 100th time, THERE IS A BLOCK PROPAGATION ISSUE WITH THE WALLET! IT GOES OUT OF SYNC EVERY COUPLE OF HOURS.

At this very moment i have 15 wallets open (same wallet.dat file, compiled using latest code from github)
1 hour ago i burned 200 slims. Only 3 wallets out of 15 showed the updated balance. It took the other 12 wallets 24 minutes to show updated balance.

While troubleshooting the issue, i tried sending 1slm from one of the stuck wallets. As soon as I broadcasted the transaction it started syncing. This explains why sandors pool wallet has no sync issues, it has a constant flux of incoming and outgoing transactions.

It looks like a relatively minor issue, nothing which could derail the whole system.

Not being in sync makes you have orphan PoB blocks... not cool

[slimcoin]

I am creating a FAQ and useful information list. Please write your suggestions for questions or topics to be answered.

Here is what I have so far, I will add more to it:
How can I start PoB mining?
What are my chances of hitting a PoB block?

[primer-]

I am creating a FAQ and useful information list. Please write your suggestions for questions or topics to be answered.

Here is what I have so far, I will add more to it:
How can I start PoB mining?
What are my chances of hitting a PoB block?

There are so many things to fix (broken GUI, block propagation, PoW/PoS difficulty, CPU utilization) yet you decided to work on a FAQ..

Incompetent developer, just like shinycoin dev. In my opinion this coin is DEAD.

[mvag]

Funny, now that primer got this red negative trust level, his equally negative comments are perceived to contribute to the coin's reputation. Multiplying negatives makes a positive 

[primer-]

Funny, now that primer got this red negative trust level, his equally negative comments are perceived to contribute to the coin's reputation. Multiplying negatives makes a positive 

What about now ?

[reflector]

I am creating a FAQ and useful information list. Please write your suggestions for questions or topics to be answered.

Here is what I have so far, I will add more to it:
How can I start PoB mining?
What are my chances of hitting a PoB block?

Maybe this stuff:

decayed burnt coins: Your amount of your burnt coins that are now inactive, gone, no longer mining in a sense
immature burnt coins: Your amount of burnt coins that are not mining yet, since they have to have a certain depth in the blockchain to start mining
effective burnt coins: Your amount of burnt coins that are currently mining
net burnt coins: The total amount of coins that you have burned.

Also, several pages back, somebody wrote this:

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.

If this stuff is inline with your vision, maybe include some of that.