[ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh)

[cryptodaknight]

Noob here, read OP but for some reason this is not clicking with me. At risk of sounding silly can someone really do a writeup dumbing this concept down for rest of us? I think as being a Noob to this coin, information, or incentives to hold, mine, buy are not clear to me enough.

I'm still trying to wrap my head around this $20 bucks a coin thing people keep talking about? I'm unsure if this is random number target or something based on something.

Here, I'll do my best. Basically the long-term vision and goal of SolarCoin is for solar panels to be like money-printing machines. If you generate clean renewable solar electricity, which benefits the environment and has economic value, you will receive a reward, like a subsidy, for doing so. When the technology is developed, the reward will be automatically granted to the owner of each solar panel based on data transmitted from the solar panel into the blockchain about how much energy it's generating. Until that happens, the grants are being made manually based on how much energy each panel is expected and certified to create (nameplate capacity).

The $20 target value for SolarCoin is based on the value of 1 megawatt-hour of solar electricity. Since 1 SLR is granted for every 1 MWh generated, in theory the price will tend to rise to the point of value of that unit. Think of it as that SLR is pegged to the value of solar electricity, like how some currencies in the past have been pegged to the value of gold. This value won't be realized though until millions of solar electricity generators are participating in the SolarCoin program. Until then, the price will tend to go up gradually from where it is now, as more people get involved in the SLR monetary system, invest in it, use the currency, etc.

I hope that brief explanation is helpful.  

Thank you, makes more sense. But guess question now is how do you get solar companies to participate into this? Is there a plan in place to do so, or someone taking the lead marketing this coin to companies that will benifit from this? So if they produce solar energy and coins value is high, it's like making double the income? Coins value, but resale of energy costs for solar providers?

[freebird]

Noob here, read OP but for some reason this is not clicking with me. At risk of sounding silly can someone really do a writeup dumbing this concept down for rest of us? I think as being a Noob to this coin, information, or incentives to hold, mine, buy are not clear to me enough.

I'm still trying to wrap my head around this $20 bucks a coin thing people keep talking about? I'm unsure if this is random number target or something based on something.

Here, I'll do my best. Basically the long-term vision and goal of SolarCoin is for solar panels to be like money-printing machines. If you generate clean renewable solar electricity, which benefits the environment and has economic value, you will receive a reward, like a subsidy, for doing so. When the technology is developed, the reward will be automatically granted to the owner of each solar panel based on data transmitted from the solar panel into the blockchain about how much energy it's generating. Until that happens, the grants are being made manually based on how much energy each panel is expected and certified to create (nameplate capacity).

The $20 target value for SolarCoin is based on the value of 1 megawatt-hour of solar electricity. Since 1 SLR is granted for every 1 MWh generated, in theory the price will tend to rise to the point of value of that unit. Think of it as that SLR is pegged to the value of solar electricity, like how some currencies in the past have been pegged to the value of gold. This value won't be realized though until millions of solar electricity generators are participating in the SolarCoin program. Until then, the price will tend to go up gradually from where it is now, as more people get involved in the SLR monetary system, invest in it, use the currency, etc.

I hope that brief explanation is helpful.  

Thank you, makes more sense. But guess question now is how do you get solar companies to participate into this? Is there a plan in place to do so, or someone taking the lead marketing this coin to companies that will benifit from this? So if they produce solar energy and coins value is high, it's like making double the income? Coins value, but resale of energy costs for solar providers?

There's a solar industry professional, David Khasidy, who is advising the SolarCoin project on outreach to large solar companies. We haven't done a lot of this yet because the price of the coin has been too low to get big companies interested. But as the price continues to rise, they should start to become more interested.

[enderp]

I was mining early on, have been following things for the last few months, and am really excited about the recent developments with solarcoin.

For one thing, it’s very impressive that the fork went so well. After that, it’s easy to be confident the switch to POS in a month will go well, too.

And I really like the solarcoin strategy of reducing the block reward size gradually before the switch. No dramatic, sudden change to POS. Everyone has a month to see what’s going on and mine the coins they want.

I can’t wait to see how the exchange price responds to the block reductions and then POS. Someone mentioned it earlier in this thread, and I certainly agree that it’s wise to only invest money in crypto that you could afford for the investment not to go well with.

That said, I can absolutely see this coin being worth orders of magnitude more than it is now. There are so many garbage alt coins out there, but this is not one of them. This coin has a real purpose, a real plan, and a real team behind it. And finally, looking at how the price has risen of late, it seems more and more people are starting to notice.

Exciting times for SLR!

[drizzle2405]

Here is a link to some older published articles on Solarcoin:

https://bitcointalk.org/index.php?topic=475172.0

[Epiphany]

I was mining early on, have been following things for the last few months, and am really excited about the recent developments with solarcoin.

For one thing, it’s very impressive that the fork went so well. After that, it’s easy to be confident the switch to POS in a month will go well, too.

And I really like the solarcoin strategy of reducing the block reward size gradually before the switch. No dramatic, sudden change to POS. Everyone has a month to see what’s going on and mine the coins they want.

I can’t wait to see how the exchange price responds to the block reductions and then POS. Someone mentioned it earlier in this thread, and I certainly agree that it’s wise to only invest money in crypto that you could afford for the investment not to go well with.

That said, I can absolutely see this coin being worth orders of magnitude more than it is now. There are so many garbage alt coins out there, but this is not one of them. This coin has a real purpose, a real plan, and a real team behind it. And finally, looking at how the price has risen of late, it seems more and more people are starting to notice.

Exciting times for SLR!

+8 

[Epiphany]

... it is just rats and mice cleaning cupboards....

 

hehe great line. 

[passionsurf]

Here is a link to some older published articles on Solarcoin:

https://bitcointalk.org/index.php?topic=475172.0

More comprehensive list here:

http://wiki.solarcoin.org/index.php?title=International_Press_coverage_of_SolarCoin

[jontrue]

Here is a link to some older published articles on Solarcoin:

https://bitcointalk.org/index.php?topic=475172.0

More comprehensive list here:

http://wiki.solarcoin.org/index.php?title=International_Press_coverage_of_SolarCoin

good news

[mazzaneo]

Hi Guys,

So i have a question... When we move to POS is approx 30 days, how do I remove the encryption from my wallet as to mine new coins?
From what I understand, it is not possible to mine coins when the wallet is encrypted.

Thanks

[passionsurf]

Hi Guys,

So i have a question... When we move to POS is approx 30 days, how do I remove the encryption from my wallet as to mine new coins?
From what I understand, it is not possible to mine coins when the wallet is encrypted.

Thanks

I could be totally wrong, but my understanding of PoS was that coins are mined automatically on the network, then transferred to your wallet address at regular intervals. This should occur whether or not your wallet is actually running on your computer. Does this sound correct?

[Epiphany]

That's one of my questions too (among others  ). I assume this is something on the list for testing and if there is a specific set of steps we have to take, that will be communicated in advance. Josh has been pretty consistent with popping into this thread so my guess is he (or Eric) will gradually communicate some of these techy answers to us as the development progresses.

[Epiphany]

I downloaded a Blackcoin wallet last night and bought a few to get a feel for how it all works. I do think it's the case that the wallet has to be open in order to "stake". I've read alot about it but I need to see it in practice to get my lightbulb moment I think. 

[cryptodaknight]

So is there any progress or work on getting this coin to solar companies? I guess who's in charge, is there team of people working actively on this coin, or is it passive?

New to this coin, and invested some, but would like to see if there is a roadmap, or plans that are active, and updated often in place?

[billycoin]

solarcoin, its very pretty name for coin... so fanny

[drizzle2405]

Honestly I think the group should reach out as far as Google and Elon Musk!  In all seriousness...

[vipgelsi]

So is there any progress or work on getting this coin to solar companies? I guess who's in charge, is there team of people working actively on this coin, or is it passive?

New to this coin, and invested some, but would like to see if there is a roadmap, or plans that are active, and updated often in place?

There is allot of smart people that are very involved in this coin.

I bet its also the only coin that one of its creators worked on a hedge fund.

[mazzaneo]

Hi Guys,

So i have a question... When we move to POS is approx 30 days, how do I remove the encryption from my wallet as to mine new coins?
From what I understand, it is not possible to mine coins when the wallet is encrypted.

Thanks

I could be totally wrong, but my understanding of PoS was that coins are mined automatically on the network, then transferred to your wallet address at regular intervals. This should occur whether or not your wallet is actually running on your computer. Does this sound correct?

I think you have to have the wallet open in order to generate new coins. If this is the case we will need instruction now as to whether we need to send the coins to a new wallet. They need to mature for 30 days don't forget.

[djchoppa]

96 coins hanging on the wall
96 coins hanging on the wall
and if 1440 blocks  should accidently fall
there'll be 93 coins, hanging on the wall

 

[Stinky_Pete]

Hi Guys,

So i have a question... When we move to POS is approx 30 days, how do I remove the encryption from my wallet as to mine new coins?
From what I understand, it is not possible to mine coins when the wallet is encrypted.

Thanks

I could be totally wrong, but my understanding of PoS was that coins are mined automatically on the network, then transferred to your wallet address at regular intervals. This should occur whether or not your wallet is actually running on your computer. Does this sound correct?

I think you have to have the wallet open in order to generate new coins. If this is the case we will need instruction now as to whether we need to send the coins to a new wallet. They need to mature for 30 days don't forget.

Unless the code has been re-written for this coin, the process is as follows:-
You need to have mature coins in your wallet. You need to have your wallet running as a node (and so supporting the network) in order to gain 'coin-weight'. You should protect your wallet by encrypting it. Just owning coins in a wallet is not enough, the wallet has to run as a node (supporting the network) in order to gain 'coin-weight'. In the bottom right hand corner the padlock icon should be closed with tip-box stating The wallet is encrypted but locked.

To collect your coins you will need to open the wallet for 'staking' or 'minting' (not 'mining'). Some wallets have a button or setting which will do this for you, but I don't see one on wallet v1.5.0.0-beta. Instead you need to go Help -> Debug Window -> Console and enter the command "walletpassphrase <yourpassword> 180000" The number is time in seconds, you may prefer a longer time. Now the padlock icon should change to open, and the tip-box to The wallet is encrypted and currently unlocked. And that's all you need to do.

Of course what is going on behind the scenes is much more complicated. You will not get all your staked coins as soon as you unlock the wallet, it may take several hours until something happens. Your minted coins will probably not be in one transaction. The label may be confusing. There is an element of randomness involved in minting, just like there is an element of randomness with ordinary mining. Any % value you have been given is just the average expected over time. You will also see coins that appear to have come in but which never mature, consider these to be like orphans.

Unless the coin devs have included 'coin-control' there is another hidden pitfall. When you make a payment, some of your coins get sent to a 'change address' in your wallet. These coins will then need to mature as if they were new coins. Again, I don't see coin control in wallet v1.5.0.0-beta.

HTH

[Cannacoin]

Regarding the "coinage" for stake. In the PoS 2.0 model this "coinage" has been removed from the staking equation and it now has been reduced to an 8 hour buffer period from which you receive your coins that you will start to stake... so if I sent you coins today, in 8 hours from you receiving them they are eligible for staking.  This is one of the advantages to PoS2.0 as now people are not encouraged to hoard coins for 30 day minimum in order to receive a staking reward.  Also, in order to stake a user MUST be connected and running node, otherwise your coins are not eligible for the staking pool.  While you are connected it is possible to encrypt your wallet and ONLY unlock it for staking purposes.