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Author Topic: SolidCoin 3.0 (aka MicroCash) will have a daily fee for each address you have.  (Read 8000 times)
makomk
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April 19, 2012, 01:00:44 PM
 #1

Apparently SolidCoin 3.0 is going to introduce a daily fee for each address you own that has a non-zero balance in order to reduce the total number of addresses in use:

Quote from: RealSolid
ne problem I saw with the SolidCoin v2 protocol is the fact that no one actually pays for any resources on the network besides transactions. Why is this a problem? Well every "address" or "account" actually consumes memory, disk space and processing power of all the running nodes. Then when someone does pay for a transaction, all the fees goes to the miner, when the truth is every node on the network has just as much burden when it comes to sending transactions and storing them. It is unfair.

Another problem was the fact that the system itself isn't self cleansing. That is to say, if someone sends 0.0001SC to a new account that account is there for life consuming resources with no purpose in a lot of cases (ie spam). So our solution to this is a decay and interest model. Here is how it works.

1) For every account (ie unique address) on the network, there is a small daily fee. (likely to be around 0.0025 SC or a quarter cent)
2) All the "decay fees" are added up and then given back to every account, depending upon their percentage of SolidCoin holdings. ie there are 2.8 million coins right now, if you have 28000 then you have 1% of all the SolidCoins and will get 1% of the daily account fees. So a certain amount of SC in your account will ensure you pay no daily fees.
3) Transaction fees won't go to the miners anymore but the same decay/interest model. This way everyone who is invested in SolidCoin benefits, including the miners, for including transactions
4) Once an account hits 0 it is removed from nodes memory, saving them CPU and MEMORY usage. It can of course come back if that user decides to later use it.

It's important to realize that you only need a single account now due to our improved transactions, so the only reason you'll want to use more accounts is for anonymity or other personal purposes.

RealSolid is also planning to introduce exponentially increasing fees for accounts that haven't been touched in over 6 months in order to quickly redistribute the funds to active users:

Quote from: RealSolid
We will definitely be implementing a dead account acceleration , currently it's planned that if you don't use an account for 6 months, every month after that the fee doubles and interest stops. So by month 12 of inactivity, the fee is still only 4.8 per month, by month 21 of inactivity, the monthly fee is ~2400 . So even if you go away for 12 months on a large account, you're not going to lose any money, you'll have gained due to the first 6 months interest. Probably even by 18 months you'll still be in positive territory. But after that it quickly recycle any dead accounts and everyone benefits.

So if you stick some SolidCoin savings on a USB stick in a bank vault for a few years, they'll be gone by the time you come to collect them. If my math's right, you could have nearly all the SolidCoins in existence in your account and it'd still only take 36 months of account inactivity for it to be totally emptied through fees.

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DeathAndTaxes
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April 19, 2012, 01:10:11 PM
 #2

Just let scamcoin die.  Volume is down, hashing power is down, exchange support is down, ScamCoin forum activity (already low) is down.

Just let it die by neglect.  Although I have to admit it would be hard for me to follow my own advice given the asinine propsal.  Consumers hate inactivity fees which is why many major gift cards don't have them anymore (Amazon for example card is good forever with no fees).

ScamCoin is on a short bus off a cliff ANYWAYS but introducing a concept very unpopular with consumers would kill it even if it had any support.

The sad thing is a small but vocal minority of Bitcoin users want a similar thing.  Not fees but killing lost unused coins and returning them to the mining rewards.  It is equally asinine for all the obvious reasons.
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April 19, 2012, 01:54:46 PM
 #3

As he said, let scamcoin die. Stop speaking about it, stop advertising it  Wink
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April 19, 2012, 02:19:50 PM
 #4

As he said, let scamcoin die. Stop speaking about it, stop advertising it  Wink

SoiledCoin has morphed into TheftCoin. No surprise.

However, this is not advertising. This is a public service announcement.  Grin
Don't worry, the TheftCoin folks will be over here soon to advertise their latest monstrosity.

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April 19, 2012, 02:32:55 PM
 #5

Only at bitcointroll forums could giving money back to the chain be considered theft. Stay with your non interest bitcoin and see how far you go, SolidCoin is becoming a real economic force by allowing a variety of new services to be built on top its protocol.

Personally I think it's an awesome idea that reduces the effects of spam, essentially a self cleansing p2p network, while also giving funds back to the network in a fair manner.

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
terrytibbs
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April 19, 2012, 02:40:56 PM
 #6

Only at bitcointroll forums could giving money back to the chain be considered theft. Stay with your non interest bitcoin and see how far you go, SolidCoin is becoming a real economic force by allowing a variety of new services to be built on top its protocol.

Personally I think it's an awesome idea that reduces the effects of spam, essentially a self cleansing p2p network, while also giving funds back to the network in a fair manner.

People now have a financial incentive to be less anonymous. Way to go!
Snapman
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April 19, 2012, 02:43:18 PM
 #7

This is all kinds of bad. Seeing as how a ridiculous amount of coins belong to its devs for "premine" reasons, they will be getting all the fee's collection for themselves in the beginning as they have a large percentage of the overall systems finances.

All realshit/shithunter would have to do is stuff say 20 million coins into 1 account at the launch, and that account would accumulate so much of the overall fee's collected that it would be near worthless for anybody else, with any amount really.

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Starlightbreaker
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April 19, 2012, 02:44:26 PM
 #8

SolidCoin is becoming a real economic force by allowing a variety of new services to be built on top its protocol.
ಠ_ಠ

hold on.

real economic force?
for who?

ants?

how many merchants do you have now?
what's the value of your shitcoin?



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CoinHunter
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April 19, 2012, 02:45:43 PM
 #9

Only at bitcointroll forums could giving money back to the chain be considered theft. Stay with your non interest bitcoin and see how far you go, SolidCoin is becoming a real economic force by allowing a variety of new services to be built on top its protocol.

Personally I think it's an awesome idea that reduces the effects of spam, essentially a self cleansing p2p network, while also giving funds back to the network in a fair manner.

People now have a financial incentive to be less anonymous. Way to go!

Yes because tracking the change in Bitcoin is so hard! Having a single address is just as secure as multiple if multiple aren't wisely used (like in Bitcoin).

In the long term a p2p network without self cleansing is going to die, we already see lots of people complaining about Bitcoin's resource usage and performance and it is still in its infancy. If people want to use multiple accounts they can, the average user doesn't care much about it however, so only the paranoid should pay for it rather than everyone.

Lets not burden the network with the tin foil wearing lolcat posters shall we?




Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
CoinHunter
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April 19, 2012, 02:46:44 PM
 #10

This is all kinds of bad. Seeing as how a ridiculous amount of coins belong to its devs for "premine" reasons, they will be getting all the fee's collection for themselves in the beginning as they have a large percentage of the overall systems finances.

All realshit/shithunter would have to do is stuff say 20 million coins into 1 account at the launch, and that account would accumulate so much of the fee's that it would be near worthless for anybody with any amount really.

If you read the other threads on the forum you will see they are removing the 10 trust accounts. So the only coins in the restart are going to be the 2.8 million normal coins. You'll be able to easily verify this with a block explorer once it's launched.

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
CoinHunter
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April 19, 2012, 02:48:15 PM
 #11

real economic force?
for who?

For any business. Now exchanges and pools can charge zero fees (or even reward their users for holding funds with them). Banks can be built ontop that protocol allowing loans to be made and a line of credit that isn't based on magic numbers created by the federal reserve. All interest comes from the chain, the only way currency is created is through mining.

It's quite a good concept if you got past your biases.

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
terrytibbs
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April 19, 2012, 02:50:20 PM
 #12

Only at bitcointroll forums could giving money back to the chain be considered theft. Stay with your non interest bitcoin and see how far you go, SolidCoin is becoming a real economic force by allowing a variety of new services to be built on top its protocol.

Personally I think it's an awesome idea that reduces the effects of spam, essentially a self cleansing p2p network, while also giving funds back to the network in a fair manner.

People now have a financial incentive to be less anonymous. Way to go!

Yes because tracking the change in Bitcoin is so hard! Having a single address is just as secure as multiple if multiple aren't wisely used (like in Bitcoin).

In the long term a p2p network without self cleansing is going to die, we already see lots of people complaining about Bitcoin's resource usage and performance and it is still in its infancy. If people want to use multiple accounts they can, the average user doesn't care much about it however, so only the paranoid should pay for it rather than everyone.

Lets not burden the network with the tin foil wearing lolcat posters shall we?
Coin control? Client modified to return change to the same address? Are these all foreign concepts to the scamcoin community?
CoinHunter
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April 19, 2012, 02:52:12 PM
 #13

Coin control? Client modified to return change to the same address? Are these all foreign concepts to the scamcoin community?

Don't show your ignorance scamterry. Read the forum if you want to know more about it. SolidCoin v3 is built on a new protocol, it isn't bitcoin sourced anymore.

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
terrytibbs
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April 19, 2012, 02:59:03 PM
 #14

Coin control? Client modified to return change to the same address? Are these all foreign concepts to the scamcoin community?
Don't show your ignorance scamterry. Read the forum if you want to know more about it. SolidCoin v3 is built on a new protocol, it isn't bitcoin sourced anymore.
what is this i dont even
BadBear
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April 19, 2012, 04:22:14 PM
 #15

Coin control? Client modified to return change to the same address? Are these all foreign concepts to the scamcoin community?
Don't show your ignorance scamterry. Read the forum if you want to know more about it. SolidCoin v3 is built on a new protocol, it isn't bitcoin sourced anymore.
what is this i dont even

You don't get it, it's Bitcoin dragging them down, it must be. Or it would totally be a success by now!

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April 19, 2012, 04:37:13 PM
 #16

I never thought the idea of this coin was any good but introducing automated redistribution of unused funds is beyond retarded. It has zero benefits and numerous disadvantages. Also, I think I speak for most libertarians when I say I value actually owning my own property.

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April 19, 2012, 04:55:59 PM
 #17

Coin control? Client modified to return change to the same address? Are these all foreign concepts to the scamcoin community?
Don't show your ignorance scamterry. Read the forum if you want to know more about it. SolidCoin v3 is built on a new protocol, it isn't bitcoin sourced anymore.
what is this i dont even

You don't get it, it's Bitcoin dragging them down, it must be. Or it would totally be a success by now!

My guess is that coinhunter doesn't want to release the source code so that people wont uncover fun things like cpf fund transactions being able to be signed by anyone

Code:
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Matoking
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April 19, 2012, 05:15:48 PM
 #18

I feel bad for anyone who still takes him seriously (assuming there is such person)

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April 19, 2012, 05:22:05 PM
 #19

Only at bitcointroll forums could giving money back to the chain be considered theft. Stay with your non interest bitcoin and see how far you go, SolidCoin is becoming a real economic force by allowing a variety of new services to be built on top its protocol.

Personally I think it's an awesome idea that reduces the effects of spam, essentially a self cleansing p2p network, while also giving funds back to the network in a fair manner.

I'm pretty sure you're the only one who thinks it's an awesome idea.

But hey, if you don't mind being forever alone...  Wink
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April 19, 2012, 05:47:09 PM
 #20

... in order to reduce the total number of addresses in use:
How about prepaid-addresses? You pay fees in advance, so your coins don´t get worthless?

The paining (sic!) is done with the QPainter class inside the paintEvent() method.
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