Has Solidcoin finally been shut down?

[LoupGaroux]

And in related news Idi Amin is still dead.

[1715226795]

1715226795

[CoinHunter]

Well we can see how well it worked for Solidcoin 

Wasn't put in place until the latest attack. But we'll see how it goes I guess.

[k9quaint]

Welcome back Coinhunter/Realsolid/Viper/Psy/Sockpuppetdujour.

If people want to ddos the SolidCoin tyrant nodes, there is nothing that can be done. The block chain stops until the tyrant nodes are able to process blocks again. Of course, now that the DDOS is over transactions go through. Notice the complete lack of comment about how great Solidcoin was doing until after the DDOS ended. 

SC2 = fair weather blockchain.

Imagine how much fun SA could have when they compromise a tyrant node.

[RoloTonyBrownTown]

Lol, Coinhunter cracks me up

DDOS in progress - Coinhunter says "..."

DDOS stopped - Coinhunter says "Pff, look! Everything is fine!"

DDOS in progress - Coinhunter says "..."


Douche

[Blind]

Lol, Coinhunter cracks me up

DDOS in progress - Coinhunter says "..."

DDOS stopped - Coinhunter says "Pff, look! Everything is fine!"

DDOS in progress - Coinhunter says "..."


Douche

And yet despite obvious bullshit, Solidcoin has ton of followers. I think Coinhunter wastes his true talent with Solidcoin, he would do much better for himself as a cult leader.

[illpoet]

And yet despite obvious bullshit, Solidcoin has ton of followers. I think Coinhunter wastes his true talent with Solidcoin, he would do much better for himself as a cult leader.

he should totally run for office

[CoinHunter]

And yet despite obvious bullshit, Solidcoin has ton of followers. I think Coinhunter wastes his true talent with Solidcoin, he would do much better for himself as a cult leader.

The reason SolidCoin attracts people is because it has clear progression from Bitcoin and the goals they have gel well with many intelligent and logical people. Of course such a thing is "heresy" on these forums as SolidCoin is competing with Bitcoin, but if you came onto irc or the forum you'd see they have a different "class" of supporter than Bitcoin.

I don't think it's cult like at all, logic just appears that way as it gives everyone a clear guide on how to interpret the world truthfully.

[El Cabron]

And yet despite obvious bullshit, Solidcoin has ton of followers. I think Coinhunter wastes his true talent with Solidcoin, he would do much better for himself as a cult leader.

The reason SolidCoin attracts people is because it has clear progression from Bitcoin and the goals they have gel well with many intelligent and logical people. Of course such a thing is "heresy" on these forums as SolidCoin is competing with Bitcoin, but if you came onto irc or the forum you'd see they have a different "class" of supporter than Bitcoin.

I don't think it's cult like at all, logic just appears that way as it gives everyone a clear guide on how to interpret the world truthfully.

Why were the block rewards of SC cut down by what, 10,000% This was because there was so much demand?

[CoinHunter]

Why were the block rewards of SC cut down by what, 10,000% This was because there was so much demand?

Have a read here :- http://solidcoin.info/economy.html

Basically it's more to do with adding an automatic inflation / deflation mechanism and removing the remaining pyramid scheme aspect from the economy. From this point on coins are pretty fairly made now vs 2 years from now. It's also a market stabilization feature that many businesses want before they adopt a cryptocurrency. So now it's fair to mine without devaluing past coins and eventually will be a very stable price due to these features.

[El Cabron]

Why were the block rewards of SC cut down by what, 10,000% This was because there was so much demand?

Have a read here :- http://solidcoin.info/economy.html

Basically it's more to do with adding an automatic inflation / deflation mechanism and removing the remaining pyramid scheme aspect from the economy. From this point on coins are pretty fairly made now vs 2 years from now. It's also a market stabilization feature that many businesses want before they adopt a cryptocurrency. So now it's fair to mine without devaluing past coins and eventually will be a very stable price due to these features.

Thanks for clearing that up

[Starlightbreaker]

Why were the block rewards of SC cut down by what, 10,000% This was because there was so much demand?

Have a read here :- http://solidcoin.info/economy.html

Basically it's more to do with adding an automatic inflation / deflation mechanism and removing the remaining pyramid scheme aspect from the economy. From this point on coins are pretty fairly made now vs 2 years from now. It's also a market stabilization feature that many businesses want before they adopt a cryptocurrency. So now it's fair to mine without devaluing past coins and eventually will be a very stable price due to these features.

Thanks for clearing that up

he's just afraid someone catching up with a million coins, and become another enforcer node.

[k9quaint]

Why were the block rewards of SC cut down by what, 10,000% This was because there was so much demand?

Have a read here :- http://solidcoin.info/economy.html

Basically it's more to do with adding an automatic inflation / deflation mechanism and removing the remaining pyramid scheme aspect from the economy. From this point on coins are pretty fairly made now vs 2 years from now. It's also a market stabilization feature that many businesses want before they adopt a cryptocurrency. So now it's fair to mine without devaluing past coins and eventually will be a very stable price due to these features.

Thanks for clearing that up

If you find an SC block, you earn about 0.07 Solidcoins for it. Someone would have to find 14 million blocks before they could have a tyrant node.
Of course, RealSolid would raise the difficulty and lower the reward long before anyone else got close.

IIRC someone computed that Solidcoins would have to be worth $24 each before one could break even mining them.
So, nobody mines SC. There is almost no volume of SC trades on exchanges. There are no merchants that accept SC as currency. This, according to the controller of Solidcoin is according to plan.

Ask yourself what someone who pre-mined 13 million coins wants for the currency.

[CoinHunter]

Good to see you admit what we knew all along. Early Solidcoin and SC 2.0 was a Pyramid Scheme designed to enrich early adopters. Nice of you to "suddenly" fix it after collecting a few million Solidcoins.
~BCX~

Yes, there is nothing to hide there because it's the truth. SC1 was essentially bitcoin economics cloned (pyramid), SC2 moved to a much fairer system that was half way between Bitcoin and what we have now and finally we are at a fair system. In essence the first "easy coins" are a way to get investment, interest, supporters, etc. If you don't like the fact the first part of SolidCoin was a pyramid scheme like Bitcoin then don't use it, don't invest in it. See if that's a smart business decision.

Bitcoin remains a pyramid system so when trying to get new investors is going to become incredibly difficult the later you join the pyramid. SolidCoin doesn't suffer that problem anymore making it more marketable.

[Vod]

Bitcoin remains a pyramid system...

I think the simple concept of a pyramid system is over your head.  

If I mine a bitcoin today, no one who mined before me makes anything from it.

Unless you have a different definition than the rest of us?

[CoinHunter]

I think the simple concept of a pyramid system is over your head.  

If I mine a bitcoin today, no one who mined before me makes anything from it.

Unless you have a different definition than the rest of us?

I'm talking about the "Reward system" being pyramid based. As in 8 months it will be 25BTC instead of 50BTC. If you join in 8 months time and begin mining you've just immediately halved your Bitcoin mining potential for no other reason than "it's a pyramid reward system, get in early".

Bitcoin is marketed as finite and a deflationary currency, but the reality is that mechanism is in there purely to get people interested and investing in it because they think one day each Bitcoin will be worth ONE MILLION DOLLARS!! Satoshi developed it like this so people would be interested, he licensed it under MIT so people could change it freely (SolidCoin) and then dropped off the planet because the reality is Bitcoin is more the "rocket booster" needed to get the real delivery system (something like SolidCoin) into general use to remove the stranglehold governments have over us.

Read an article about Bitcoin like this, and compare it to SolidCoin. We've fixed the criticisms.

http://www.good.is/post/why-bitcoin-is-a-scam/

The truth is Bitcoin will never be an internet currency. It doesn't have enough units (2 quadrillion) to even cover the existing financial system we have, let alone what it will grow into. SolidCoin can grow into it, and it has many automatic ways to ensure relatively stable price that people want in a currency.

[RoloTonyBrownTown]

Still no less delusional though.

Such arrogance!

[k9quaint]

The block chain is still creeping along with a few kHash of mining, but exchange trade volume is nearly zero. The bid/ask spread is nearly 50%.
I think we can safely declare Solidcoin dead. Though I am sure it will limp along for a few weeks like Ixcoin and I0coin did.

[Vod]

I think the simple concept of a pyramid system is over your head.  

If I mine a bitcoin today, no one who mined before me makes anything from it.

Unless you have a different definition than the rest of us?

I'm talking about the "Reward system" being pyramid based. As in 8 months it will be 25BTC instead of 50BTC. If you join in 8 months time and begin mining you've just immediately halved your Bitcoin mining potential for no other reason than "it's a pyramid reward system, get in early".

That is not pyramid based.  A pyramid is when the person above you makes a portion of what you make.  Educate yourself before you use the term again, please.

There is a term that describes early adopters making more than those who come later.  I invite you to discover it and use it instead of the incorrect "pyramid" term.  

[CoinHunter]

That is not pyramid based.  A pyramid is when the person above you makes a portion of what you make.  Educate yourself before you use the term again, please.

There is a term that describes early adopters making more than those who come later.  I invite you to discover it and use it instead of the incorrect "pyramid" term.  

I suggest you draw the following.

1) Draw the amount of bitcoins given at 50BTC as a line
2) Draw the amount of bitcoins given at 25BTC as a line above (1), center it
3) Draw the amount of bitcoins given at 12.5BTC as a line above (2), center it
4) Draw the amount of bitcoins given at 6.25BTC as a line above (3), center it


Ends up looking something like this.



I wonder what that looks like.. hmm.

[Vod]

You have a choice to educate yourself or remain ignorant.  Oh well.

The early miners of Solidcoin (you) made a lot more coins that the ones that mine it now.  Isn't that what you call a pyramid?

One person (you) makes a piece of each coin mined.  That is the actual definition of a pyramid.

By your incorrect usage or the actual definition, Solidcoin is a pyramid scheme.