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Author Topic: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh)  (Read 432611 times)
onsightit
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September 22, 2015, 04:00:49 PM
 #1761

If you have held coins since the beginning of PoW, those coins will effectively be catching up on interest they would have earned in a PoS protocol.  That explains some of the larger payouts.  We are watching the inflation rise and interest fall as we get closer to equilibrium, but because there are so few of the 34M coins in circulation that are staking, the few people that are staking are being rewarded for securing the network and keeping inflation in check.

-Steve
 

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onsightit
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September 22, 2015, 04:05:05 PM
 #1762

at this point it might be a good idea to contact the exchanges and tell them to freeze the exchange of solarcoin temporarily

I already contacted Bittrex a few hours ago... bleutrade is a joke anyway haha

It is a good idea to not send coins to exchanges, but more importantly, we need more of the 34M available coins to start staking.  Then we can put together some numbers to better explain what the protocol is doing.  If all 34M coin are staking, we will get to 2% inflation and 2-4% interest much sooner.

-Steve

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
mazzaneo
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September 22, 2015, 04:13:38 PM
 #1763

at this point it might be a good idea to contact the exchanges and tell them to freeze the exchange of solarcoin temporarily

I already contacted Bittrex a few hours ago... bleutrade is a joke anyway haha

It is a good idea to not send coins to exchanges, but more importantly, we need more of the 34M available coins to start staking.  Then we can put together some numbers to better explain what the protocol is doing.  If all 34M coin are staking, we will get to 2% inflation and 2-4% interest much sooner.

-Steve

Isn't it a bit late for that? The damage is already done.
Now that pretty much everyone is a millionaire.

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sunny-boy
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September 22, 2015, 04:25:15 PM
 #1764

at this point it might be a good idea to contact the exchanges and tell them to freeze the exchange of solarcoin temporarily

I already contacted Bittrex a few hours ago... bleutrade is a joke anyway haha

It is a good idea to not send coins to exchanges, but more importantly, we need more of the 34M available coins to start staking.  Then we can put together some numbers to better explain what the protocol is doing.  If all 34M coin are staking, we will get to 2% inflation and 2-4% interest much sooner.

-Steve

Isn't it a bit late for that? The damage is already done.
Now that pretty much everyone is a millionaire.


Lol, not quite there yet - I'm at +18% since yesterday (20hours), so quite high but still good for me.

If POST is indeed working, perhaps we should "give back" undue interest (honestly)

Steve, is there a way to keep track of the newly created coins and the wallet addresses to which these have been sent ? If so, "sending back" (to where?) or simply destroying these coins might put us back on track
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September 22, 2015, 04:27:34 PM
 #1765

Congratulations everyone.
Im staking sinds the moment the 830.000 hit yesterday, and received not one coin  Embarrassed

Still 'staking' at the bottom of the wallet.
That everyone got x3 (or so) means in fact my coins are /3 worth now, or am i wrong?
sunny-boy
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September 22, 2015, 04:39:56 PM
 #1766

Congratulations everyone.
Im staking sinds the moment the 830.000 hit yesterday, and received not one coin  Embarrassed

Still 'staking' at the bottom of the wallet.
That everyone got x3 (or so) means in fact my coins are /3 worth now, or am i wrong?

Steve, how soon till the "dust settles"?
onsightit
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September 22, 2015, 04:42:21 PM
 #1767

I'd like to propose a solution and get some feed back.  What if we all got back on the 1.5 blockchain (and resumed mining) then put an interest rate cap of 10% in a new 2.0.2 release set to fork at height 840000?

-Steve

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
onsightit
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September 22, 2015, 04:42:58 PM
 #1768

Congratulations everyone.
Im staking sinds the moment the 830.000 hit yesterday, and received not one coin  Embarrassed

Still 'staking' at the bottom of the wallet.
That everyone got x3 (or so) means in fact my coins are /3 worth now, or am i wrong?

Steve, how soon till the "dust settles"?

Lol, it's flying.

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
mazzaneo
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September 22, 2015, 04:45:21 PM
 #1769

I'd like to propose a solution and get some feed back.  What if we all got back on the 1.5 blockchain (and resumed mining) then put an interest rate cap of 10% in a new 2.0.2 release set to fork at height 840000?

-Steve

Well we'd better do something.
What would an interest rate cap of 10% mean regarding rewards?

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vipgelsi
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September 22, 2015, 04:45:28 PM
 #1770

I'd like to propose a solution and get some feed back.  What if we all got back on the 1.5 blockchain (and resumed mining) then put an interest rate cap of 10% in a new 2.0.2 release set to fork at height 840000?

-Steve


Just let it be everything will work itself out.

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September 22, 2015, 04:48:14 PM
 #1771

I'd like to propose a solution and get some feed back.  What if we all got back on the 1.5 blockchain (and resumed mining) then put an interest rate cap of 10% in a new 2.0.2 release set to fork at height 840000?

-Steve


I think rolling back to block 830000 and going back to 1.5 for the time being is the best solution. As for the interest why would we set that to 10%? that's way too much
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September 22, 2015, 04:49:42 PM
 #1772

If you have held coins since the beginning of PoW, those coins will effectively be catching up on interest they would have earned in a PoS protocol.  That explains some of the larger payouts.  We are watching the inflation rise and interest fall as we get closer to equilibrium, but because there are so few of the 34M coins in circulation that are staking, the few people that are staking are being rewarded for securing the network and keeping inflation in check.

-Steve
 

Hi Steve,
It's easy to make these claims, but they do contradict any calculations you and Doug came up with, not to mention that current results contradict any possible logic. If my wallet's address with 1,000,000 coins in it had staked instead of the one with 200,000, I would have gotten 35,000,000 coins for finding that block. Please get back to work, find a way to first revert back to block 830000 and secure the blockchain, then find and fix the error in the code. That's not easy, I know, but that's what all of us here need to be done.
Thank you!
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September 22, 2015, 04:50:25 PM
 #1773

I'd like to propose a solution and get some feed back.  What if we all got back on the 1.5 blockchain (and resumed mining) then put an interest rate cap of 10% in a new 2.0.2 release set to fork at height 840000?

-Steve


"Let's work the problem people. Let's not make things worse by guessing." Apollo 13 Film, Gene Kranz.

I think it's best to wait for Mr. Gogerty's decision on this.

solarcoiner
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September 22, 2015, 04:51:01 PM
 #1774

I'd like to propose a solution and get some feed back.  What if we all got back on the 1.5 blockchain (and resumed mining) then put an interest rate cap of 10% in a new 2.0.2 release set to fork at height 840000?

-Steve


Just let it be everything will work itself out.

You must be kidding. We NEED to roll back to block 830000 and resume mining for the time being.
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September 22, 2015, 04:52:55 PM
 #1775

I'd like to propose a solution and get some feed back.  What if we all got back on the 1.5 blockchain (and resumed mining) then put an interest rate cap of 10% in a new 2.0.2 release set to fork at height 840000?

-Steve


Going back to 830000 and 1.5 was what I was thinking of as a best temp solution, too.
Then for the 2.0.2 it should be as initially proposed, only working properly.
Thanks!
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September 22, 2015, 04:54:15 PM
 #1776

The problem is this is how PoST is. We need more people to run there wallets and stake.

Maybe everyone that got large amounts of solarcoins could send them back to the generator pool.

onsightit
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September 22, 2015, 04:58:43 PM
 #1777

I'd like to propose a solution and get some feed back.  What if we all got back on the 1.5 blockchain (and resumed mining) then put an interest rate cap of 10% in a new 2.0.2 release set to fork at height 840000?

-Steve


I think rolling back to block 830000 and going back to 1.5 for the time being is the best solution. As for the interest why would we set that to 10%? that's way too much

10% would be a max.  It may take longer to reach an equilibrium with inflation, but eventually the interest rate will reach the target of ~2.5%.

-Steve

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
corather
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September 22, 2015, 04:59:10 PM
 #1778

The problem is this is how PoST is. We need more people to run there wallets and stake.

Maybe everyone that got large amounts of solarcoins could send them back to the generator pool.

If the problem doesn't persist this could work, but there are many unknowns. I'm not panicking though. Like all new technology there will be growing pains. The worst didn't happen, a crippling fork for example. Whatever is decided will be right for the coin in the long run. Short term problems are already being worked on.

sunny-boy
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September 22, 2015, 05:07:34 PM
 #1779

The problem is this is how PoST is. We need more people to run there wallets and stake.

Maybe everyone that got large amounts of solarcoins could send them back to the generator pool.

Think this might be a better solution indeed - assuming there is no default in the POST code - Note that I haven't staked in 8hours now
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September 22, 2015, 05:11:00 PM
 #1780

In addition to a 10% cap on interest, we could also not stake coins older than block height 790000 (50000 blocks before 840000).  If you move your coins to a new address, they will then stake but the weight will be significantly less.  I personally do not like this idea, but I thought I would propose it.


-Steve

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
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