Silkcoin - *self-moderated* - Discussion thread about the Silkcoin eco-system

[BadAss.Sx]

Is this also a topic where there is only price discussion and the technical aspects are not important?

There are flaws in the white paper that need to be discussed but nobody cares, the only thing they care is price.

This community is driven by greed. Anything that is driven by greed will get burned HARD on the end

The only reason i made this topic is to remove FUD. But yes, for me it is important that the technical issues are discussed here, but i can't do nothing about people who want to discuss the price, although i agree with you that greed is a bad thing.

[BadAss.Sx]

Train has passed,
BadAssX i have a private fund of investors here in Shanghai, all chinese of course and we bought 114BTC worth of SC at 2000 you can look at Mintpal on the market history.


We are the biggest private fund in Shanghai and recognised to be second only to the Beijing one, so SC already got some good investment.

Cheers

Very nice...hope they keep the coins also

[godzirra]

Is this also a topic where there is only price discussion and the technical aspects are not important?

There are flaws in the white paper that need to be discussed but nobody cares, the only thing they care is price.

This community is driven by greed. Anything that is driven by greed will get burned HARD on the end

Why don't you lead by example and just do it yourself. Stop expecting internet strangers to do what you want.

[WhiteNotWright]

Is this also a topic where there is only price discussion and the technical aspects are not important?

There are flaws in the white paper that need to be discussed but nobody cares, the only thing they care is price.

This community is driven by greed. Anything that is driven by greed will get burned HARD on the end

Why don't you lead by example and just do it yourself. Stop expecting internet strangers to do what you want.

Feel the excitement!

[sala2001]

Is this also a topic where there is only price discussion and the technical aspects are not important?

There are flaws in the white paper that need to be discussed but nobody cares, the only thing they care is price.

This community is driven by greed. Anything that is driven by greed will get burned HARD on the end

Keep in mind this is a pre-release and devs told us infos where missing from the paper and that a revision will come next friday.

[kalisto]

Is this also a topic where there is only price discussion and the technical aspects are not important?

There are flaws in the white paper that need to be discussed but nobody cares, the only thing they care is price.

This community is driven by greed. Anything that is driven by greed will get burned HARD on the end

Why don't you lead by example and just do it yourself. Stop expecting internet strangers to do what you want.

Then start reading the other topic on questions that i posted.

[WhiteNotWright]

So I tried a little staking on about 10K worth of coins. After about 3 or 4 days, it deposited 0.1 of a SC.  So is that it? One coin on 10K? If I wait another 3 or 4 days will it produce another coin? How will increasing my stake to about 100K coins help? I know there is the age compute as well. Just trying to get a good handle on this PoS and why I would keep funds in the wallet and not on the exchange doing work for me within the trading pool.

[Quantum12]

So I tried a little staking on about 10K worth of coins. After about 3 or 4 days, it deposited 0.1 of a SC.  So is that it? One coin on 10K? If I wait another 3 or 4 days will it produce another coin? How will increasing my stake to about 100K coins help? I know there is the age compute as well. Just trying to get a good handle on this PoS and why I would keep funds in the wallet and not on the exchange doing work for me within the trading pool.

Exchange tend to lock the wallets and not stake the coins , if someone wanted to withdraw and the coins were staked.. whoops.

[darthburnstuff]

TO THE MOON!

Fixed it for ya 

[Grifftech2k4]

So I tried a little staking on about 10K worth of coins. After about 3 or 4 days, it deposited 0.1 of a SC.  So is that it? One coin on 10K? If I wait another 3 or 4 days will it produce another coin? How will increasing my stake to about 100K coins help? I know there is the age compute as well. Just trying to get a good handle on this PoS and why I would keep funds in the wallet and not on the exchange doing work for me within the trading pool.

I have 21k SC in my wallet and staking and this is what I received during the 21st of June

0.24876628
0.31299759
0.24131917
0.21016178
0.33988384
0.21129096
0.20161951
0.2149805
0.03586658
0.38576166
0.37126026
0.14204264


I think that is a pretty decent amount

[tequillaquagga]

I read the Whitepapper.
Whole idea looks interesting. But I'd like to propose one improvement.
Silkcoin, you said we can make a lot of decentralized things:

This opens the door to many different uses, we can decentralize any existing system (Marketplace, Wikipedia...), but too much data would hurt scalability/memory usage of the network and go against the main decentralization idea

So community and Silkcoin team,

Why not to use multiple blockchains for several services?
I mean that one blockchain should be mandatory for all users. This blockchain can be "master" blockchain and contains coins and other main info.
Then we can have market blockchan, social blockchain etc. A lot of it. But user should choose it from settings to use.

So we can make a lot of decentralized anonymous services, but each of them will be supported and used by people who really need that service. And don't need to download all blockchains to use only one of few of them.

I don't really know if it is real to do that thing. So please take a look and write your thoughts.

Thanks.

[BadAss.Sx]

Why not to use multiple blockchains for several services?

This opens the door to many different uses, we can decentralize any existing system
(Marketplace, Wikipedia...), but too much data would hurt scalability/memory us
age of the network and go against the main decentralization idea, so
the solution to this would be better to spread services over different currencies.

 

[Quantum12]

I read the Whitepapper.
Whole idea looks interesting. But I'd like to propose one improvement.
Silkcoin, you said we can make a lot of decentralized things:

This opens the door to many different uses, we can decentralize any existing system (Marketplace, Wikipedia...), but too much data would hurt scalability/memory usage of the network and go against the main decentralization idea

So community and Silkcoin team,

Why not to use multiple blockchains for several services?
I mean that one blockchain should be mandatory for all users. This blockchain can be "master" blockchain and contains coins and other main info.
Then we can have market blockchan, social blockchain etc. A lot of it. But user should choose it from settings to use.

So we can make a lot of decentralized anonymous services, but each of them will be supported and used by people who really need that service. And don't need to download all blockchains to use only one of few of them.

I don't really know if it is real to do that thing. So please take a look and write your thoughts.

Thanks.

sounds interesting indeed, separate block chains , could u create forks from the SC chain and host the different networks on the forks? i don't know i can't code, and coins certainly cant be transferred to diff forks, but i am sure new wallet for each would be needed, and the idea is to have it all in one place so ..

like your thinking though.

[kalisto]

So I tried a little staking on about 10K worth of coins. After about 3 or 4 days, it deposited 0.1 of a SC.  So is that it? One coin on 10K? If I wait another 3 or 4 days will it produce another coin? How will increasing my stake to about 100K coins help? I know there is the age compute as well. Just trying to get a good handle on this PoS and why I would keep funds in the wallet and not on the exchange doing work for me within the trading pool.

Effective you get 2% as yearly interest so on 10K worth of coins you get 200 coins per year because of staking (if you keep them in your wallet for staking ofcourse). Block reward on staking depends because of your network weight against the total network weight. So sometimes you get a small reward other times you get a bigger reward but in the end you will get 2% per year. If you increase your stack to 100K coins you would still get 2% so this means 2000 coins per year. After a few weeks of staking you would see that your balance will split in more stake blocks so you will get more often a block. Also by keeping coins in your wallet you protect the network because the network is secured by pure PoS. Keeping all your coins on a exchange dont help to make the network stronger. Also exchanges dont stake because of security issues.

[tequillaquagga]

spread services over different currencies

Why different currencies? Why not use one currency for all services?

[Quantum12]

So I tried a little staking on about 10K worth of coins. After about 3 or 4 days, it deposited 0.1 of a SC.  So is that it? One coin on 10K? If I wait another 3 or 4 days will it produce another coin? How will increasing my stake to about 100K coins help? I know there is the age compute as well. Just trying to get a good handle on this PoS and why I would keep funds in the wallet and not on the exchange doing work for me within the trading pool.

Effective you get 2% as yearly interest so on 10K worth of coins you get 200 coins per year because of staking (if you keep them in your wallet for staking ofcourse). Block reward on staking depends because of your network weight against the total network weight. So sometimes you get a small reward other times you get a bigger reward but in the end you will get 2% per year. If you increase your stack to 100K coins you would still get 2% but this means 2000 coins per year. After a few weeks of staking you would see that your balance will split in more stake blocks so you will get more often a block. Also by keeping coins in your wallet you protect the network because the network is secured by pure PoS. Keeping all your coins on a exchange dont help to make the network stronger. Also exchanges dont stake because of security issues.

i am no expert m8 but i think it works out more because its compound interest

5000 coins u get 2% of stake but then receive say 100 SC for a pos block...but then next time you stake you have 5100 and receive 102 coins for a POS block..

This over the year accumulates to more..

i know the numbers are smaller above is just an example

[kalisto]

spread services over different currencies

Why different currencies? Why not use one currency for all services?

Because different blockchains require different currencies. You cannot transfer a coin from one blockchain to another, this would break the security of the blockchain afaik.

[tequillaquagga]

sounds interesting indeed, separate block chains , could u create forks from the SC chain and host the different networks on the forks? i don't know i can't code, and coins certainly cant be transferred to diff forks, but i am sure new wallet for each would be needed, and the idea is to have it all in one place so ..

like your thinking though.

I can imagine that main blockchain can contain links and transactions to the services blockchains. But I really don't know how blockchain works. So I tried to post my high level thoughts.

[kalisto]

So I tried a little staking on about 10K worth of coins. After about 3 or 4 days, it deposited 0.1 of a SC.  So is that it? One coin on 10K? If I wait another 3 or 4 days will it produce another coin? How will increasing my stake to about 100K coins help? I know there is the age compute as well. Just trying to get a good handle on this PoS and why I would keep funds in the wallet and not on the exchange doing work for me within the trading pool.

Effective you get 2% as yearly interest so on 10K worth of coins you get 200 coins per year because of staking (if you keep them in your wallet for staking ofcourse). Block reward on staking depends because of your network weight against the total network weight. So sometimes you get a small reward other times you get a bigger reward but in the end you will get 2% per year. If you increase your stack to 100K coins you would still get 2% but this means 2000 coins per year. After a few weeks of staking you would see that your balance will split in more stake blocks so you will get more often a block. Also by keeping coins in your wallet you protect the network because the network is secured by pure PoS. Keeping all your coins on a exchange dont help to make the network stronger. Also exchanges dont stake because of security issues.

i am no expert m8 but i think it works out more because its compound interest

5000 coins u get 2% of stake but then receive say 100 SC for a pos block...but then next time you stake you have 5100 and receive 102 coins for a POS block..

This over the year accumulates to more..

i know the numbers are smaller above is just an example

True, you will also get 2 % on coins that you got by staking. I did not want to make it more confusing then it already is for people new on staking. So if you get a reward from staking it will be taken into the next stake after it reaches the required mature time.

[Grifftech2k4]

I read the Whitepapper.
Whole idea looks interesting. But I'd like to propose one improvement.
Silkcoin, you said we can make a lot of decentralized things:

This opens the door to many different uses, we can decentralize any existing system (Marketplace, Wikipedia...), but too much data would hurt scalability/memory usage of the network and go against the main decentralization idea

So community and Silkcoin team,

Why not to use multiple blockchains for several services?
I mean that one blockchain should be mandatory for all users. This blockchain can be "master" blockchain and contains coins and other main info.
Then we can have market blockchan, social blockchain etc. A lot of it. But user should choose it from settings to use.

So we can make a lot of decentralized anonymous services, but each of them will be supported and used by people who really need that service. And don't need to download all blockchains to use only one of few of them.

I don't really know if it is real to do that thing. So please take a look and write your thoughts.

Thanks.

sounds interesting indeed, separate block chains , could u create forks from the SC chain and host the different networks on the forks? i don't know i can't code, and coins certainly cant be transferred to diff forks, but i am sure new wallet for each would be needed, and the idea is to have it all in one place so ..

like your thinking though.

Is it possible with Silkcoin to possibly implement merge mining and then utilize the other coins for different pieces of functionality? Would be cool to have Merge Staking for example a new coin for Silkcoin Eco-System that handles part of the eco-system and maybe name it SilkEco. Or let SilkEco have a short PoW to get coins in circulation then have it able to be staked in the same wallet as SilkCoin.

Just spit balling here