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

[Stinky_Pete]

The new version seems really slow "re-indexing blocks on disk". Is is possible to do this in stages, ie will it carry on where left off if the computer is switched off overnight?

Yes

[1714833114]

1714833114

[vipgelsi]

Never seen volume this high on solar bittrex

BTC VOL   5.22461927 BTC

[corather]

Never seen volume this high on solar bittrex

BTC VOL   5.22461927 BTC

See that volume. Imagine 10 times that volume after all these triggers begin. PoS, grants flying out the door, Incorporation, etc.

[vipgelsi]

https://bitcointalk.org/index.php?topic=790439.msg8908279#msg8908279

[vipgelsi]

Never seen volume this high on solar bittrex

BTC VOL   5.22461927 BTC

See that volume. Imagine 10 times that volume after all these triggers begin. PoS, grants flying out the door, Incorporation, etc.

    Yup

[quantium]

The new version seems really slow "re-indexing blocks on disk". Is is possible to do this in stages, ie will it carry on where left off if the computer is switched off overnight?

Yes

Thanks. All upgraded now over two days.

The question remains as to what to mine after SLR becomes unprofitable or ceases to be mineable. Mining something else and converting it to SLR when SLR has a bad day seems an option. Such activity on a wide scale would continue to support SLR by propping up its market. Digibyte seems a possibility as it can be mined using old SHA256 miners as well as Scrypt miners.
http://coinmarketcap.com/currencies/digibyte/
but as far as I can see one would have to go via Bitcoin to get to Solarcoin.

Any other ideas on this?

[vipgelsi]

up 110.5% today bittrex 6.5 btc volume 

[Epiphany]

The new version seems really slow "re-indexing blocks on disk". Is is possible to do this in stages, ie will it carry on where left off if the computer is switched off overnight?

Yes

Thanks. All upgraded now over two days.

The question remains as to what to mine after SLR becomes unprofitable or ceases to be mineable. Mining something else and converting it to SLR when SLR has a bad day seems an option. Such activity on a wide scale would continue to support SLR by propping up its market. Digibyte seems a possibility as it can be mined using old SHA256 miners as well as Scrypt miners.
http://coinmarketcap.com/currencies/digibyte/
but as far as I can see one would have to go via Bitcoin to get to Solarcoin.

Any other ideas on this?

In the previous thread there was some discussion of doing something similar to the Blackcoin mining pools but for SLR. Let me go find it... But if I recall, you can mine anything and the pool converts it to SLR for you or something. Please someone correct me if I'm wrong. Obviously it's something that would need to be set up if someone saw some value in it to do it.

EDIT: Found it! Sylph suggested it, here is the link to the comment and the discussion after: https://bitcointalk.org/index.php?topic=429119.msg8226490#msg8226490

[Epiphany]

KGW can't come soon enough... I have my BTC all ready to start mining through the fork, looks like it will still be a few days yet before 310k gets here. I was hoping it would be this weekend.

[quantium]

The new version seems really slow "re-indexing blocks on disk". Is is possible to do this in stages, ie will it carry on where left off if the computer is switched off overnight?

Yes

Thanks. All upgraded now over two days.

The question remains as to what to mine after SLR becomes unprofitable or ceases to be mineable. Mining something else and converting it to SLR when SLR has a bad day seems an option. Such activity on a wide scale would continue to support SLR by propping up its market. Digibyte seems a possibility as it can be mined using old SHA256 miners as well as Scrypt miners.
http://coinmarketcap.com/currencies/digibyte/
but as far as I can see one would have to go via Bitcoin to get to Solarcoin.

Any other ideas on this?

In the previous thread there was some discussion of doing something similar to the Blackcoin mining pools but for SLR. Let me go find it... But if I recall, you can mine anything and the pool converts it to SLR for you or something. Please someone correct me if I'm wrong. Obviously it's something that would need to be set up if someone saw some value in it to do it.

EDIT: Found it! Sylph suggested it, here is the link to the comment and the discussion after: https://bitcointalk.org/index.php?topic=429119.msg8226490#msg8226490

Having just read it, it looks as though that idea was talked down as not being in the spirit of Solarcoin.

[Epiphany]

The new version seems really slow "re-indexing blocks on disk". Is is possible to do this in stages, ie will it carry on where left off if the computer is switched off overnight?

Yes

Thanks. All upgraded now over two days.

The question remains as to what to mine after SLR becomes unprofitable or ceases to be mineable. Mining something else and converting it to SLR when SLR has a bad day seems an option. Such activity on a wide scale would continue to support SLR by propping up its market. Digibyte seems a possibility as it can be mined using old SHA256 miners as well as Scrypt miners.
http://coinmarketcap.com/currencies/digibyte/
but as far as I can see one would have to go via Bitcoin to get to Solarcoin.

Any other ideas on this?

In the previous thread there was some discussion of doing something similar to the Blackcoin mining pools but for SLR. Let me go find it... But if I recall, you can mine anything and the pool converts it to SLR for you or something. Please someone correct me if I'm wrong. Obviously it's something that would need to be set up if someone saw some value in it to do it.

EDIT: Found it! Sylph suggested it, here is the link to the comment and the discussion after: https://bitcointalk.org/index.php?topic=429119.msg8226490#msg8226490

Having just read it, it looks as though that idea was talked down as not being in the spirit of Solarcoin.

Did you keep reading? There were more posts discussing it further down the page. I think it seems like a fine idea.

[quantium]

The new version seems really slow "re-indexing blocks on disk". Is is possible to do this in stages, ie will it carry on where left off if the computer is switched off overnight?

Yes

Thanks. All upgraded now over two days.

The question remains as to what to mine after SLR becomes unprofitable or ceases to be mineable. Mining something else and converting it to SLR when SLR has a bad day seems an option. Such activity on a wide scale would continue to support SLR by propping up its market. Digibyte seems a possibility as it can be mined using old SHA256 miners as well as Scrypt miners.
http://coinmarketcap.com/currencies/digibyte/
but as far as I can see one would have to go via Bitcoin to get to Solarcoin.

Any other ideas on this?

In the previous thread there was some discussion of doing something similar to the Blackcoin mining pools but for SLR. Let me go find it... But if I recall, you can mine anything and the pool converts it to SLR for you or something. Please someone correct me if I'm wrong. Obviously it's something that would need to be set up if someone saw some value in it to do it.

EDIT: Found it! Sylph suggested it, here is the link to the comment and the discussion after: https://bitcointalk.org/index.php?topic=429119.msg8226490#msg8226490

Having just read it, it looks as though that idea was talked down as not being in the spirit of Solarcoin.

Did you keep reading? There were more posts discussing it further down the page. I think it seems like a fine idea.

Obviously not enough. There was a lot of it. However it does not look as though it was implemented.

[Epiphany]

The new version seems really slow "re-indexing blocks on disk". Is is possible to do this in stages, ie will it carry on where left off if the computer is switched off overnight?

Yes

Thanks. All upgraded now over two days.

The question remains as to what to mine after SLR becomes unprofitable or ceases to be mineable. Mining something else and converting it to SLR when SLR has a bad day seems an option. Such activity on a wide scale would continue to support SLR by propping up its market. Digibyte seems a possibility as it can be mined using old SHA256 miners as well as Scrypt miners.
http://coinmarketcap.com/currencies/digibyte/
but as far as I can see one would have to go via Bitcoin to get to Solarcoin.

Any other ideas on this?

In the previous thread there was some discussion of doing something similar to the Blackcoin mining pools but for SLR. Let me go find it... But if I recall, you can mine anything and the pool converts it to SLR for you or something. Please someone correct me if I'm wrong. Obviously it's something that would need to be set up if someone saw some value in it to do it.

EDIT: Found it! Sylph suggested it, here is the link to the comment and the discussion after: https://bitcointalk.org/index.php?topic=429119.msg8226490#msg8226490

Having just read it, it looks as though that idea was talked down as not being in the spirit of Solarcoin.

Did you keep reading? There were more posts discussing it further down the page. I think it seems like a fine idea.

Obviously not enough. There was a lot of it. However it does not look as though it was implemented.

No, but we won't get to 100% PoS for a little over a month yet. If some enterprising keener decided to set it up, there's nothing to stop them if they know how to do it. I would certainly support it by mining that pool if it was there when PoS takes over. I guess we weren't sure of how much participation there would be, but you never know until it's tried.

[quantium]

In the previous thread there was some discussion of doing something similar to the Blackcoin mining pools but for SLR. Let me go find it... But if I recall, you can mine anything and the pool converts it to SLR for you or something. Please someone correct me if I'm wrong. Obviously it's something that would need to be set up if someone saw some value in it to do it.

EDIT: Found it! Sylph suggested it, here is the link to the comment and the discussion after: https://bitcointalk.org/index.php?topic=429119.msg8226490#msg8226490

Having just read it, it looks as though that idea was talked down as not being in the spirit of Solarcoin.

Did you keep reading? There were more posts discussing it further down the page. I think it seems like a fine idea.

Obviously not enough. There was a lot of it. However it does not look as though it was implemented.

No, but we won't get to 100% PoS for a little over a month yet. If some enterprising keener decided to set it up, there's nothing to stop them if they know how to do it. I would certainly support it by mining that pool if it was there when PoS takes over. I guess we weren't sure of how much participation there would be, but you never know until it's tried.

Unfortunately I don't. But I have noted that SLR is rising sharply at the moment and almost getting back to where it started in relation to inflationary currencies and BTC.

[danzilla]

The total supply of SolarCoin in circulation will be approximately §98.1 billion over the next 40 years. This is fully documented and is comprised of the following:

• Public Staking and Mining: ~§100 million (0.1%) of which §33.3 Million are publicly mined using scrypt PoW until such time that the Proof of Stake algorithm is implemented (currently scheduled to take place at Block 357,520). All publicly mined SolarCoins represent historically generated and unclaimed solar electricity. From block 357,520 forward, the only new supply of coins will come from the 1% staking interest that is built into the PoS model.
• The Generator Pool: §97.5 billion (99.4%) are currently stored in a secure, non-circulating generator pool account. These will be exchanged for “proof of generation” claims of solar electricity producers submitted over the next 40 years at the rate of §1 per MWh of solar energy generated. As claims grow, these SolarCoins will be released and become part of the “coins in circulation” such that the growth in supply over the next 40 years should mimic the growth in solar electricity generation worldwide, assuming all generators claim their coins.
• The Genesis Pool: §500 million (0.5%) are stored in the genesis pool account for environmental charities, early volunteers, advisers, builders and maintainers of SolarCoin infrastructure. Genesis pool circulation is capped so that it will never represent more than 5% of total SolarCoin in circulation at any given time.

Did I read that right, 99.9% premine? 

So you have to have trust in a centralized Generator Pool to hand out solar credits?  I thought the whole point of crypto-currency was decentralization, and trust-less transactions.

[corather]

The total supply of SolarCoin in circulation will be approximately §98.1 billion over the next 40 years. This is fully documented and is comprised of the following:

• Public Staking and Mining: ~§100 million (0.1%) of which §33.3 Million are publicly mined using scrypt PoW until such time that the Proof of Stake algorithm is implemented (currently scheduled to take place at Block 357,520). All publicly mined SolarCoins represent historically generated and unclaimed solar electricity. From block 357,520 forward, the only new supply of coins will come from the 1% staking interest that is built into the PoS model.
• The Generator Pool: §97.5 billion (99.4%) are currently stored in a secure, non-circulating generator pool account. These will be exchanged for “proof of generation” claims of solar electricity producers submitted over the next 40 years at the rate of §1 per MWh of solar energy generated. As claims grow, these SolarCoins will be released and become part of the “coins in circulation” such that the growth in supply over the next 40 years should mimic the growth in solar electricity generation worldwide, assuming all generators claim their coins.
• The Genesis Pool: §500 million (0.5%) are stored in the genesis pool account for environmental charities, early volunteers, advisers, builders and maintainers of SolarCoin infrastructure. Genesis pool circulation is capped so that it will never represent more than 5% of total SolarCoin in circulation at any given time.

Did I read that right, 99.9% premine? 

So you have to have trust in a centralized Generator Pool to hand out solar credits?  I thought the whole point of crypto-currency was decentralization, and trust-less transactions.

This one is a little different. As smart contract technology progresses, those contracts will have the keys to the vault.

[Epiphany]

Yes, we're proud to be the largest pre-mine in cryptocurrency history.   (Ripple might take that honour, not sure...)

Back in January, this was definitely a concern for many people when SolarCoin was new, even for me, because at that time it took a leap of faith in the co-creators (aka trust). Now that almost 9 months have passed and research has been done and behaviour has been observed of these individuals, the risk of the "pre-mine" issue that was very high in the beginning is much less so now. "It's so yesterday" to coin a term.

However, the risk will never be eliminated completely until we can get in place a contracting system that removes that last vestige of centralization from the equation. This community is dedicated to seeing that through from everything I have observed. So welcome to the party folks.  

[freebird]

I thought the whole point of crypto-currency was decentralization, and trust-less transactions.

I don't think that's the whole point of crypto. In fact, I think that aspect of crypto is much less important than the fact that crypto gives people the power to decide how money gets created.

Today, most currencies are created by banks when they make loans, mostly to wealthy people and big corporations. The money supply is created as a reward for being perceived as more likely to pay back a loan with interest to a bank.

Bitcoin came along and offered a new way to create a money supply, based on currency going to whoever has bigger and more powerful specialized computers, technical knowledge, and ability to afford lots of electricity to mine BTC. It took the power away from the banking system, which was an improvement, but it still does not incentivize anything good in the world.

SolarCoin is a currency that is distributed as a reward for doing something that benefits the planet: generating clean renewable solar energy. We plan to put the reserve currency under smart contract so that the granting process can be automated. Before that happens, it is being held securely by the people who launched this project.

We know these people's real names and you can read their resumes: Nick Gogerty and Joseph Zitoli. Both of them have held high positions in major companies in the finance industry. They are not average schmos; they have serious professional reputations. Each individual has to decide for themselves whether to trust that they will fulfill the plan to put the reserve of SolarCoin under smart contract so that it will no longer be held by the founders. Based on working with them on the SolarCoin project for over 6 months, I trust them to do so.

[danzilla]

Ok, the smart contracts make sense.  That will definitely add security.

[freebird]

Yes, we're proud to be the largest pre-mine in cryptocurrency history.   (Ripple might take that honour, not sure...)

Yes, Ripple is also a centrally managed cryptocurrency. And it's currently the #3 crypto with a market cap of $132 million.

People in the digital currency space have strong feelings about the issue of trust vs. non-trust based models of money. This is a philosophical issue that will be argued for years to come. There are and will continue to be successful cryptocurrencies based on either model, and hybrids of the two.

SolarCoin, though trust-based right now, will ultimately become a hybrid model because the reserve currency will be put under smart contract and the granting to solar generators mostly automated. The goal we're striving for is for solar panels to have a built-in system that transmits information to the blockchain about how much electricity is being generated, and for the corresponding amount of SLR to be automatically sent into the wallet of the owner of each solar panel. There will only have to be minimal review by human beings in occasional cases for fraud prevention (e.g. software flags a solar panel that's claiming a ridiculously inaccurate amount of energy generated, and a human can review such a case and override automatic grants to that wallet).