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

[ArchitektoR]

157991 SLM was just sold @ BTER... Maybe it was the optimized miner owner?

[oveeps]

Hope to open optimized miner

[jadefalke]

someone is dominating the POW Part with a optimized Miner quite hard. The 4 BTC Dump @BTER is the Evidence for that.
Is the Algo switch an thing which can be achived quite easy? If we stay with this algo, i think the price evolution will be quite dramatic due to the large dump's we will see from that one Person.

[AizenSou]

157991 SLM was just sold @ BTER... Maybe it was the optimized miner owner?

someone is dominating the POW Part with a optimized Miner quite hard. The 4 BTC Dump @BTER is the Evidence for that.
Is the Algo switch an thing which can be achived quite easy? If we stay with this algo, i think the price evolution will be quite dramatic due to the large dump's we will see from that one Person.

Might be from a early miner. Remember this coin stayed low for months with ridiculous low difficulty. With a few CPUs you could find plenty of SLMs per day.
If I remember correctly, primer- did have a lot of SLM before. He could be the one who dumped.
But it's only my guess.

[hankrules]

someone is dominating the POW Part with a optimized Miner quite hard. The 4 BTC Dump @BTER is the Evidence for that.
Is the Algo switch an thing which can be achived quite easy? If we stay with this algo, i think the price evolution will be quite dramatic due to the large dump's we will see from that one Person.

I vote to switch to a "tried and true" algo...  SHA-256, scrypt, x11...  PoB is the interesting part of this coin.  

[primer-]

I feel sorry for the fool who paid 4btc for 100k+ worthless coins... The coin was revived for one reason alone - to be dumped on the stupid.

[pantheist]

Well I missed the low point, but I still got a decent chunk with my leftover btc  Made me feel a little better about not buying more sooner when it was still developerless

[ArchitektoR]

what is the minimum payout value? - 5 blocks confirmed and still nothing on wallet side

[AizenSou]

I feel sorry for the fool who paid 4btc for 100k+ worthless coins... The coin was revived for one reason alone - to be dumped on the stupid.

And let's me guess. You are the dumper like before? Your hatred towards all altcoins because you got burnt with Myriadcoin makes you like this ? Fair. But really you don't need to come back .

what is the minimum payout value? - 5 blocks confirmed and still nothing on wallet side

Yep same here.

[stevemerkle]

I think we should change the algorithm to SHA-256 and skip right past all the drama and speculation of a GPU miner being built.

[pantheist]

I think we should change the algorithm to SHA-256 and skip right past all the drama and speculation of a GPU miner being built.

Yeah- doesn't matter which algo to me, but it makes sense to use a tried and true one. PoB is what makes this coin unique, why complicate things with an algorithm like dcrypt that no one seems to know much about?

[rfcdejong]

Oh wow someone is going to burn 150K i guess

Looking at the block explorer the seller's address might be SS1grkp5FhhzYy2U3unqwMeSs4Lzq2v1qN

But i don't want to search for long..

Where is our statistics guy?   TheRealSteve?

[ArchitektoR]

if something ASIC-powered will be chosen, the reward for PoW must be recalculated to very low values, so the direct mining will never give some extra privileges.

Maybe PoB+PoS is much better! Why waste power for GPU-CPU mining, when even RasPi can be used to complete SlimCoin usage? SlimCoin, SlimWallet & SlimMiner (RasPi )
"Why use expensive and power-hungry hardware, when even Android smartphone can be your e-Wallet & Miner?"

[BootstrapCoinDev]

Well I give up. Try at least 10 times with different nodes, including from rfcdejong. Always stucks at 10xxx blocks, no matter what. It takes forever to sync from start to block 10xxx and then stop to sync.

[pantheist]

Well I give up. Try at least 10 times with different nodes, including from rfcdejong. Always stucks at 10xxx blocks, no matter what. It takes forever to sync from start to block 10xxx and then stop to sync.

blockchain snapshot

(from slimcoin.club)

[a123]

Ouch. Bad news galore On the bright side, we must have quite a bit of volume today on Bter and prices have fallen, so acquisition and mining would hopefully be cheaper. The coins would also hopefully have been bought by people committed to the growth of SLM.

I learnt about the weakness once someone about 4 pages back mentioned about the low scratch space requirements, and the slimcoin.club web miner was experimenting with an iteration limit of 64.

The improvement is actually rather little, around 20% max and you have to tweak for an optimal iteration limit. I haven't checked johnnylatte's hex acceleration routine.

However, once this news gets out (like now) I suspect it would be trivial for experienced GPU coders to accelerate it, if it wasn't already.

POB uses single-SHA256 and not dcrypt, so no iteration-based improvement would help it.

The dump is likely by someone with a GPU miner or a botnet; I've seen single addresses recently hashing with over 5MH.

I'll try to quickly implement the changes into the miner and release it; that should help level the playing field and buy us some time to change the algo, or just go completely GPU friendly.

I'm still for a version of CPU only algorithm though, but we oughta use one that has been well established.

[stevemerkle]

I'm still for a version of CPU only algorithm though, but we oughta use one that has been well established.

Quark?  Primecoin?  Are those CPU only?

[a123]

There are Prime-based algos (Rie, Prime, Gap), Blockchain-based scratchpad algos (Wild Keccak) and memory-intensive ones (Cryptonight). Can take a look at http://cpucoinlist.com/. These are all based on high random access memory requirements which GPUs perform poorly with.

These are mostly well-established algos with known optimised GPU miners, actually. But the main difference is the GPU miners don't have much of a Hash/Watt advantage over CPUs even after heavy and public optimisation, whereas for Dcrypt it could be a lot higher and still private.

Alternatively, we can also focus on PoB for the masses, and just use an established Scrypt or SHA256 PoW for miners.

[pantheist]

There are Prime-based algos (Rie, Prime, Gap), Blockchain-based scratchpad algos (Wild Keccak) and memory-intensive ones (Cryptonight). Can take a look at http://cpucoinlist.com/. These are all based on high random access memory requirements which GPUs perform poorly with.

These are mostly well-established algos with known optimised GPU miners, actually. But the main difference is the GPU miners don't have much of a Hash/Watt advantage over CPUs even after heavy and public optimisation, whereas for Dcrypt it could be a lot higher and still private.

Alternatively, we can also focus on PoB for the masses, and just use an established Scrypt or SHA256 PoW for miners.

Now I'm not much of a miner, but my only worry about an asic friendly algorithm would be that especially early on after the switch it'd be easy for one person to get all the blocks. On the flip side, cpu-only means someone with a botnet can do the same thing. Tricky decisions.

[a123]

Now I'm not much of a miner, but my only worry about a asic friendly algorithm would be that especially early on after the switch it'd be easy for one person to get all the blocks. On the flip side, cpu-only means someone with a botnet can do the same thing. Tricky decisions.

True. And there's also the spectre of 51% attack.