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

[freebird]

There is some poor dude out there mining away on the old wallet...  With the Block Explorer still not updated (Justin has been advised), you can see that blocks are still being solved on the old chain. http://blockexplorer.solarcoin.org/block/fb7155d057ecc9843edcb438f3d0453e626f3186c342fdb46ea5aaf6505787b5

If it might possibly be one of you or someone you know, you might wanna get it straightened out ASAP and download the new wallet to the miner. 

Yeah, unfortunately it looks like some people didn't get the memo and are still mining the old chain. Hopefully they'll get the message soon and switch.

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[vipgelsi]

With the rise in price so far no dumpers we are all holding steady for Dollar land  

[Crypto Trader]

Hi guys, can some please clarify, I thought at 310,000 there would be a block reduction, from what I can see the block explorer is still showing 100 per block
http://blockexplorer.solarcoin.org/browse_blocks/SolarCoin?count=20

Looking at https://v2.cryptopoolmining.com/slr there are some heavy machines hitting this and getting a high volume of coins, also seems to be some high volume of dumping going on since the fork which is dragging the price down.

[freebird]

Hi guys, can some please clarify, I thought at 310,000 there would be a block reduction, from what I can see the block explorer is still showing 100 per block
http://blockexplorer.solarcoin.org/browse_blocks/SolarCoin?count=20

Looking at https://v2.cryptopoolmining.com/slr there are some heavy machines hitting this and getting a high volume of coins, also seems to be some high volume of dumping going on since the fork which is dragging the price down.

The fork did occur at 310,000. Block reward is now 99 and will fall -3 every day from now on. You can see in the pools data that the new blocks being found are rewarded with 99 SLR. The block explorer hasn't been updated yet and is showing the wrong chain, which a few people are apparently still mining. The coins mined on that chain are not spendable on the real chain. We apologize for the delay in updating the block explorer to show the new chain. We will do this as soon as possible.

Most of the dumping that occurred on the market several hours ago actually happened before the fork. Volume has been relatively light since then. Price is not going to just go straight up. There will be ups and downs from day to day, but hopefully the overall trend will continue to be up.

[miningpoolhub]

Solarcoin Mining Pool Hub
http://solarcoin.miningpoolhub.com/

We updated before the hardfork and we are on the right block chain.
Come and mine together.

[Snake Pliskin]

Over 371,000 coins dumped on bittrex since the fork, someone is taking full advantage of this, is it me or has things gone pair shaped since the fork.

Should the difficulty still be effected by the higher hashrate miners

I have alot of time and money invested in this coin and don't get me wrong i'm in it for the long run, but the big miners are back on this and the heavy dumping we are going to be back to were we was a few months ago

 

[freebird]

Over 371,000 coins dumped on bittrex since the fork, someone is taking full advantage of this, is it me or has things gone pair shaped since the fork.

Should the difficulty still be effected by the higher hashrate miners

I have alot of time and money invested in this coin and don't get me wrong i'm in it for the long run, but the big miners are back on this and the heavy dumping we are going to be back to were we was a few months ago

 

The price is in the mid 2000s on Bittrex, basically the same as it was right before the fork. And there hasn't been heavy selling.

[Snake Pliskin]

The price is in the mid 2000s on Bittrex, basically the same as it was right before the fork. And there hasn't been heavy selling.

Please just take a look at the market history here https://bittrex.com/Market/Index?MarketName=BTC-SLR since the fork there has indeed been continual dumping due to this being heavy mined again.

I understand that when it changes to pos that this will be beneficial to Solarcoin's future.

Can someone please tell me whats the immediate benefit of the fork apart from the block reduction if i'm right 3 per day

[freebird]

The price is in the mid 2000s on Bittrex, basically the same as it was right before the fork. And there hasn't been heavy selling.

Please just take a look at the market history here https://bittrex.com/Market/Index?MarketName=BTC-SLR since the fork there has indeed been continual dumping due to this being heavy mined again.

The amount of volume before and after the fork has been similar.

I understand that when it changes to pos that this will be beneficial to Solarcoin's future.

Can someone please tell me whats the immediate benefit of the fork apart from the block reduction if i'm right 3 per day

Kimoto's Gravity Well and an updated codebase.

[LuckyKey]

Some very high hashing going on right now!  It looks like there will be a few more coins coming to the market over the next couple of weeks, as the block reward shrinks daily.  It could be the last chance to pick up coins at this price

[Epiphany]

Some very high hashing going on right now!  It looks like there will be a few more coins coming to the market over the next couple of weeks, as the block reward shrinks daily.  It could be the last chance to pick up coins at this price

I am happily mining away and intend to continue doing so for the next 33 days. 

[drizzle2405]

SLR just went up 600%.  Nothing goes up forever...  Regardless, the coins being bought are going into stronger hands.

[themeco]

Been fun watching the value rise the past week. At some point we will need a healthy correction, be interesting to see how long this bull run will last for. I'll also keep mining through the transition to POS.

[vipgelsi]

Been fun watching the value rise the past week. At some point we will need a healthy correction, be interesting to see how long this bull run will last for. I'll also keep mining through the transition to POS.

True and since kgw is working coins are more available from mining less difficulty stuck coins

This wil get interesting when pos happens or when we are near 3slr a minute reward.

[passionsurf]

It has made me nervous that the dumpers have been relatively quiet the last few weeks. At this stage in the game, I'm happy to see miners dump at the exchange, because that puts a higher percentage of coins into the wallets of long-term holders (like myself). Regardless, it is still very impressive that the 24-hour volume at bittrex is >8 BTC and yet the exchange price still remains relatively steady at ~10x what it was 3-4 months ago.

[passionsurf]

time for a buy wall.

[freebird]

It has made me nervous that the dumpers have been relatively quiet the last few weeks. At this stage in the game, I'm happy to see miners dump at the exchange, because that puts a higher percentage of coins into the wallets of long-term holders (like myself). Regardless, it is still very impressive that the 24-hour volume at bittrex is >8 BTC and yet the exchange price still remains relatively steady at ~10x what it was 3-4 months ago.

Nothing goes straight up, so the correction we're seeing today is probably healthy. Plenty of coins passing from the hands of short-term profit takers into the hands of longer-term investors and new entrants who will be looking for significantly higher prices before they sell.

Also worth noting that block times were running so slow for a few weeks leading up to the fork that it was functionally the equivalent of a 50 per minute reward. Now that we have KGW implemented, blocks are running approximately every minute as expected, so temporarily there's actually an uptick in coins created through mining even though we just implemented a block reward reduction. But as the reward falls, in a couple weeks the inflation rate will be lower than it was pre-fork. And then a couple weeks after that, things will get VERY interesting.

Edit: Even though more coins are temporarily being created, they are being distributed more fairly to average miners because of KGW rather than the people who were gaming the system. So this is healthy for the market and the coin in the longer term.

[terciops]

It has made me nervous that the dumpers have been relatively quiet the last few weeks. At this stage in the game, I'm happy to see miners dump at the exchange, because that puts a higher percentage of coins into the wallets of long-term holders (like myself). Regardless, it is still very impressive that the 24-hour volume at bittrex is >8 BTC and yet the exchange price still remains relatively steady at ~10x what it was 3-4 months ago.

Nothing goes straight up, so the correction we're seeing today is probably healthy. Plenty of coins passing from the hands of short-term profit takers into the hands of longer-term investors and new entrants who will be looking for significantly higher prices before they sell.

Also worth noting that block times were running so slow for a few weeks leading up to the fork that it was functionally the equivalent of a 50 per minute reward. Now that we have KGW implemented, blocks are running approximately every minute as expected, so temporarily there's actually an uptick in coins created through mining even though we just implemented a block reward reduction. But as the reward falls, in a couple weeks the inflation rate will be lower than it was pre-fork. And then a couple weeks after that, things will get VERY interesting.

Edit: Even though more coins are temporarily being created, they are being distributed more fairly to average miners because of KGW rather than the people who were gaming the system. So this is healthy for the market and the coin in the longer term.

Totally agree.  KGW is doing a much better balancing job on the difficulty and making it a leveler (is that a real word?) playing field for miners. 

The price dip is inevitable and when you drill into the volumes it is just rats and mice cleaning cupboards....

The sinking rewards will drop the hash rate over the next month...  Then we shall see ....

 

[cryptodaknight]

SLR went up 300% in just a week!!!  Volume is still light though, as I believe people are holding and will continue to hold.

Looks like daytraders are setting the bar high for asks, not like they have a choice because the market isn't as liquid as it was weeks ago, since a lot of people are holding, so in order to make a buck, they'll have to set the low volume at higher prices...

Looking good folks...  PoS around the corner!  This is going to be a fantastic ride!!!

Yes, but priced against Bitcoin one has to take into account that BTC has gone down by about $75 over the lifetime of SLR, and the current quotation in $ for SLR is roughly the same as it was when it was announced. IE, SLR has gone down a long way and just recovered.

The thing that worries me is that once mining stops, the only activity using SLR will be the FITs being paid to generators. There doesn't seem to be any other activity, such as buying and selling of PV equipment, for example.

But we will see. Maybe it will go up up and away to $20. However I'd hate to see anyone buying into it with money they could ill afford to lose, though. It would not be good for renewables if it turned out to be like National Lotteries, a "gullibility tax".

I applaud your sense of caution and I agree completely when viewing this through the lens of "investment" participation in SolarCoin only i.e. Someone buys low, looking to sell high, make a return on their fiat, cash out, move on, leave the growth and adoption of the "product" to others. There is nothing wrong with that approach as long as the investor fully comprehends the risk.

What excites me most is that, to your other point concerning future uses/applications/structure/contracts/technology, any one of us here can take on projects that serve to fulfill the mission that also contributes to the overall value. SolarCoin is ours. We as individuals contribute how we see fit and that benefits the whole. I know that is a bit of a foreign concept when compared to the current state of capitalism which rewards competition over cooperation but for me, I love the fact that I don't need "permission" from anyone to grow the community of holders in whatever manner excites me most . If you say to yourself, "Hey, wouldn't it be cool if SolarCoin did *insert great idea here*?" Well, what's stopping that individual from turning their great idea into reality on their own? Fear? Confidence? Lack of information? Something else?

I say flip the switch, make it happen. Don't let life pass you by while you're waiting for everyone else to pay attention to your great idea. Nike had it right with their slogan "Just do it!" And I don't say this lightly, I've spent the better part of my life avoiding risk because I was too afraid of failing and worried about not living up to the expectations of everyone around me. It ain't fun... So I'm trying something different. 

Early on I didn't mention this to anyone. Yes, I was excited about the idea and the vision Nick and Joe had for SolarCoin inspired me greatly but you couldn't pay me to mention it publicly, I didn't want people to think I was crazy, I didn't want to have to explain it to people who just "wouldn't get it", if it doesn't work out I'd look like an idiot, blah, blah, blah. Excuses, excuses. All that listening to that voice accomplishes is to ensure that the status quo remains intact. And since the status quo sucks, the only person with any power to change that is me.

OK... long rant there. But hey, I'm crazy. Deal with it! 

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.

BTC talk is also hard to naviagate and time consuming. Is there information out there that just spells it out in to us in easy to understand fashion. I think you'll also attract more people if you have the layman's version just to get your feet wet.

 

[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.