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

[comerex]

If anyone tells me how and is interested - I'd sell my wallet file with ~2000 burnt slimcoins.
I'm out of this.

[pantheist]

If anyone tells me how and is interested - I'd sell my wallet file with ~2000 burnt slimcoins.
I'm out of this.

If you're sure, I'll take it. PM'd



edit: ah I misread that- didn't realize you were looking to sell. Sorry- it'd be easier to buy 2k more slim for just about nothing and burn those than deal with two wallets

[comerex]

Thought it might be possible to get the private key of the address that sent to the burn address out of it.

Whatever, I'm spending my time on something more productive than bitcoin again. It appealed to my technophiliac side but ended up being a hobby that just cost money and didn't return anything other than a really bad experience in the bitcoin community. (bitcointalk being one of the worst places of them all) I don't gamble on the bitcoin price either so I'm kinda done.

Have fun anyway.

[hankrules]

Thought it might be possible to get the private key of the address that sent to the burn address out of it.

Whatever, I'm spending my time on something more productive than bitcoin again. It appealed to my technophiliac side but ended up being a hobby that just cost money and didn't return anything other than a really bad experience in the bitcoin community. (bitcointalk being one of the worst places of them all) I don't gamble on the bitcoin price either so I'm kinda done.

Have fun anyway.

It's possible to dump private keys from your wallet, then import them into another wallet.  Problem is, whoever sells you that key will also have a copy of it.  I don't think there is a way around that.
BTW, there is money to be made and good experiences to be had in cryptoland... You just have to know where to look

[d5000]

Maybe someone implements a similar feature in a new coin. But I think there are other PoB coins out there already.

As I'm more interested in the PoB concept than in Slimcoin itself, I have searched Bitcointalk for it. But it seems that, at least for distribution and blockchain maintainance, Slimcoin continues to be the only PoB coin. There is KoreCoin, but they use it as an anonymization feature, and not in the way Slimcoin does. TGCoin, the only slimcoin fork, is dead.

Now its undeniable that the Slimcoin client still is buggy as hell, and the original dev has disappeared. So PoB enthusiasts like me have two choices:
- continue to support Slimcoin and trying to find skilled devs to fix the client's bugs
- fork the coin and start from zero with a new development team - perhaps even with some kind of transition mechanism (e.g. slimcoin holders getting free coins).

I think if a skilled dev discovers this coin, buys a lot of coins for a cheap price and then fixes the client's bugs, that could be a chance for Slimcoin to resurrect, as the potential to grow in price with a stable client and good dev team is huge.

But there are also aspects which speak in favour of a fork. So I think the last update of the distribution mechanism (more reward for PoS) was going in the wrong direction, as it has made the coin very inflationary and favours big coin holders disproportionately.

Also, I have ideas for a own PoB coin (combinating PoB with "Proof of Deposit") but I would need a dev too

[AizenSou]

Maybe someone implements a similar feature in a new coin. But I think there are other PoB coins out there already.

As I'm more interested in the PoB concept than in Slimcoin itself, I have searched Bitcointalk for it. But it seems that, at least for distribution and blockchain maintainance, Slimcoin continues to be the only PoB coin. There is KoreCoin, but they use it as an anonymization feature, and not in the way Slimcoin does. TGCoin, the only slimcoin fork, is dead.

Now its undeniable that the Slimcoin client still is buggy as hell, and the original dev has disappeared. So PoB enthusiasts like me have two choices:
- continue to support Slimcoin and trying to find skilled devs to fix the client's bugs
- fork the coin and start from zero with a new development team - perhaps even with some kind of transition mechanism (e.g. slimcoin holders getting free coins).

I think if a skilled dev discovers this coin, buys a lot of coins for a cheap price and then fixes the client's bugs, that could be a chance for Slimcoin to resurrect, as the potential to grow in price with a stable client and good dev team is huge.

But there are also aspects which speak in favour of a fork. So I think the last update of the distribution mechanism (more reward for PoS) was going in the wrong direction, as it has made the coin very inflationary and favours big coin holders disproportionately.

Also, I have ideas for a own PoB coin (combinating PoB with "Proof of Deposit") but I would need a dev too

+1 sounds like a good plan. The problem is only how to find a skilled dev. I support your 2. option. So community if any of you know any good dev please recommend him to here.

[d5000]

Forking is far more difficult and would require starting from zero. Slimcoin at least has made it to an high-volume exchange like BTER.

I have posted a reference to Slimcoin to the original Proof-of-burn thread.  Perhaps some of the original inventors of the concept can join here and post their opinions. I have seen Iain Stewart (the PoB inventor) was active in September but doesn't write often in the forum. Does someone know him?

[BitcoinFX]

The more I look at this it is PoS that is the main issue over PoB aside from the networking protocol bugs. If Slimcoin had been just PoW and PoB then that would probably of been much better.

The 'randomness' of the PoB implementation is also an issue. We essentially have a code base from early Peercoin - thus the best person to ask for help is most likely Sunny King or another or the Peercoin devs.

They were / are busy with Nubits and PeerShares, but now those are mostly launched maybe someone can take a look at this ?

Sadly it might be best to start again with Slimcoin 2.0

[d5000]

@BitcoinFX: As far as I know, Slimcoin is a fork of Peercoin 0.3.2. The actual Peercoin version 0.4 is only a minor bugfix version, with a protocol update related to pools. The next major version would be PPC 0.5, but it's still in develpment. So the Peercoin code has not changed drastically since the fork.

Peercoin 0.3 was stable for more than one year, so I think the PoS implementation alone should not be the issue. Probably it's the combination of the three kind of algorithms which makes the client unstable.

But perhaps it's really a possibility that we can add SLM to the "Peercoin family", as they have "adopted" NuBits. The PPC community is quite open-minded (I am a moderator of two local subforums there). Code obviously for this must be audited to make sure there was no scam attempt, but I don't think that was the case as all source code was published. I think "slimcoin" (the dev) simply got angry because of the continuous (in part, racist) attacks on him and because the bugs were more severe than he thought, and that is the reason he is quiet now.

[AizenSou]

The more I look at this it is PoS that is the main issue over PoB aside from the networking protocol bugs. If Slimcoin had been just PoW and PoB then that would probably of been much better.

The 'randomness' of the PoB implementation is also an issue. We essentially have a code base from early Peercoin - thus the best person to ask for help is most likely Sunny King or another or the Peercoin devs.

They were / are busy with Nubits and PeerShares, but now those are mostly launched maybe someone can take a look at this ?

Sadly it might be best to start again with Slimcoin 2.0

I did suggest remove PoS from Slimcoin long time ago because it's sure the source of bugs.

Only if we could find a dev who could remove PoS entirely from Slimcoin and fix the bugs. BitcoinFX and d5000 since you two are hero member, do you know some good devs?

[BitcoinFX]

@d5000: You are right in regards to the Peercoin version releases. What is interesting is that the 1st Slimcoin release was seemingly quite 'stable' in comparison to now.

Having three algorithms for block generation is partly causing these network propagation issues. Its possible that these issues were somewhat unrealized with fewer networked nodes and less of a blockchain.

It is not going to be easy to fix this and it may be better to try a different or similar PoB implementation altogether. Again, a coder with an extensive working knowledge of the Peercoin base is the best option to provide advice on whats possible here - I'd imagine. I do have an account on the peercoin forums, but I've not logged-in for a while, so as you are a mod. then go-for-it.  

@AizenSou: Being a 'Hero' member on this forum, sadly does not make us magic men. The term 'Hero' is used to much these days imho.

Although, lots of us have put time and resources into mining and supporting Slimcoin, so it would be a shame to see all that just go to waste.

[AizenSou]

@d5000: You are right in regards to the Peercoin version releases. What is interesting is that the 1st Slimcoin release was seemingly quite 'stable' in comparison to now.

Having three algorithms for block generation is partly causing these network propagation issues. Its possible that these issues were somewhat unrealized with fewer networked nodes and less of a blockchain.

It is not going to be easy to fix this and it may be better to try a different or similar PoB implementation altogether. Again, a coder with an extensive working knowledge of the Peercoin base is the best option to provide advice on whats possible here - I'd imagine. I do have an account on the peercoin forums, but I've not logged-in for a while, so as you are a mod. then go-for-it.  

@AizenSou: Being a 'Hero' member on this forum, sadly does not make us magic men. The term 'Hero' is used to much these days imho.

Although, lots of us have put time and resources into mining and supporting Slimcoin, so it would be a shame to see all that just go to waste.

I don't mean you have the magic to resurrect a coin My point is you might know a lot of things and have a lot contacts in this forum, so by any chance that you know some devs? I did try to find a core dev for my own project since three months and the only one I could find is bushstar.

[rfcdejong]

Sadly i'm not a coin dev and i don't have time either.
A dev or better a team of dev's that take over this coin would be best.

ps: slimcoin never really left, he is just very inactive and that is what he said, he will help in time of need but won't actively develop
ps2: slimcoin, there is a checkpoint needed!

[d5000]

I have started a thread about Slimcoin in Peercointalk forum:

http://www.peercointalk.org/index.php?topic=3461.msg33518;topicseen#msg33518

I probably will also a separate thread about proof of burn in one of the main sections, as the block generation method even can be useful for Peercoin or NuBits in the future.

[a123]

Slimcoin still appears very promising to me but it lacked marketing and awareness, and is also difficult to set up and learn about the various innovations.

I thus spent sometime deciphering the slimcoin source and built this site http://www.slimcoin.club/. It has a brain wallet with mining, transaction and burning built in; all transactions and blocks are signed locally (I never see your key) then sent to one of my nodes for broadcasting.  

(oh yea while burning coins is ok, burnt-coin mining on browser is still buggy; that'll be my next to fix. mining works but is very slow, so i'm thinking of using it more for faucet and coin distribution and to introduce the concept of mining)

I plan to make the page the on-board ramp to get people interested and learn about slimcoin mining, transactions, burning, and to eventually install the client full-time; but yet remain completely functional for those who aren't into running the full client (assuming my nodes remain up).

Also, for us slmers there's a rudimentary block explorer.

Everything's still very alpha and I'm open to your suggestions and your help.

[a123]

For the client itself, I will hope that improved awareness and better prices will also bring in developer interest (perhaps the original dev's interest too?). In the meantime, I think we can start building up a list of things to fix specifically, perhaps by listing them as issues on github. If no one steps up, I'll fork and make changes to the slimcoin code-base.

The latest version for github is actually quite stable: 3.2.0.6. So far for me, the high cpu/memory usage stems from 2 issues: PoS and bad nodes. Because the version numbers have not changed, older incompatible nodes are freely connecting and repeatedly downloading the blockchain data which fails their verification; I had to block each ip/ip range one by one.

I usually disable PoS cos it sucks my cpu, but PoS itself doesn't really contribute much to the growth. d5000 mentioned that previously there was bump in the reward, but it was also met with a corresponding 10x increase in difficulty which should cancel out: this change was to reduce the number of PoS blocks generated then, which was overwhelming the PoW/PoB blocks.

PoS also appears to be the cause of some block sync and distribution issue: Primer- had mentioned it quite regularly back then, and I also had the same experience. I also noticed that in the past consecutive PoS blocks actually caused my nodes to reject the chain thus orphaning it, though it could also have been an effect of the automatic checkpointing server which seems down now.

I'm still in favour of PoS actually, as long as the bugs can be fixed. Think one of the main issue could also be that dcrypt instead of dbl-sha256 is used for PoS blocks, and that is really really intensive (which can lead to unresponsiveness with a lot of transactions), so that can be an avenue of exploration.

I don't encounter these problems now; but as BitcoinFX mentioned, this could be because of the small number of active nodes.

Needed Changes
1. Add checkpoints
2. Remove PoS or Fix PoS
3. Hardfork with new Protocol Version to reject all older clients

[AizenSou]

For the client itself, I will hope that improved awareness and better prices will also bring in developer interest (perhaps the original dev's interest too?). In the meantime, I think we can start building up a list of things to fix specifically, perhaps by listing them as issues on github. If no one steps up, I'll fork and make changes to the slimcoin code-base.

The latest version for github is actually quite stable: 3.2.0.6. So far for me, the high cpu/memory usage stems from 2 issues: PoS and bad nodes. Because the version numbers have not changed, older incompatible nodes are freely connecting and repeatedly downloading the blockchain data which fails their verification; I had to block each ip/ip range one by one.

I usually disable PoS cos it sucks my cpu, but PoS itself doesn't really contribute much to the growth. d5000 mentioned that previously there was bump in the reward, but it was also met with a corresponding 10x increase in difficulty which should cancel out: this change was to reduce the number of PoS blocks generated then, which was overwhelming the PoW/PoB blocks.

PoS also appears to be the cause of some block sync and distribution issue: Primer- had mentioned it quite regularly back then, and I also had the same experience. I also noticed that in the past consecutive PoS blocks actually caused my nodes to reject the chain thus orphaning it, though it could also have been an effect of the automatic checkpointing server which seems down now.

I'm still in favour of PoS actually, as long as the bugs can be fixed. Think one of the main issue could also be that dcrypt instead of dbl-sha256 is used for PoS blocks, and that is really really intensive (which can lead to unresponsiveness with a lot of transactions), so that can be an avenue of exploration.

I don't encounter these problems now; but as BitcoinFX mentioned, this could be because of the small number of active nodes.

Needed Changes
1. Add checkpoints
2. Remove PoS or Fix PoS
3. Hardfork with new Protocol Version to reject all older clients

Wow finally we have a dev to fix these problems. I opt for removing PoS. Could I have your SLM address for donation, please? Very appreciate for helping this coin.

[rfcdejong]

I enjoyed reading both posts, thank you

[deadreply]

someone can give me a good nodes to sync my wallet plzz !!!!


P.S this nodes work

addnode=192.3.21.71:41682
addnode=37.187.100.75:41682
addnode=203.20.114.252:41682
addnode=5.9.81.9:41682

[d5000]

@a123: Great news! Will try your site when I have some time.

My problem with the high proof-of-stake reward is basically that it rewards the greatest SLM holders only, as the difficulty is so high that minting isn't possible for little SLM holders. That could lead to a scenario with centralized PoS pools, or even worse, with only the largest users minting PoS and the rest turning off the client.

A network with only a few entities minting PoS would make SLM vulnerable to 51%-PoS-attacks, as most little holders would not even try to mint and so the "staking" coins would be only a little percentage of total supply. In the Peercoin community we try to get the majority of PPC users to mint, so the network keeps descentralized and such attacks are as expensive as possible. The upcoming "cold locked minting" feature (in 0,5) is another step in that direction.

Also, I have noted that since the change the supply of SLM has grown much faster than before. I know, in theory it should be the same like before because of the diff adjustment for PoS. Perhaps it is related to the PoW changes, I don't know.

I am neutral regarding PoS removal. Note that PoS in PPC is the main security mechanism, with PoW having almost no importance. So in a PPC-based PoW/PoB coin without changing this, the PoB algorithm (which is the most experimental part of the coin) would carry "most responsibility" for blockchain security. But I am not an expert on this issue, only read this in the PPC forums, as I am not a programmer.