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

[mazzaneo]

Mining will continue until the new wallet gets released. We don't know yet at which block the proof of stake hard fork will take place.




Oh - I managed to misunderstand the original statement; "Starting on Block 310,000 the PoW block reward will go from §100 per block down to §1 per block over a 33-day period at which time the 100% PoS algorithm will be implemented".  We are a day away from SLR 1 per block - or even 0 per block if the '--3' continues - since we went to 99 and then --3 from there.  It will be instructive to see how many miners keep burning electricity mining a 2000S coin at 1 per minute.

I will keep my little gridseed farm online to protect the blockchain, but it seems like a chasm of uncertainty looming tomorrow.

Good point! I hadn't realized the OP wasn't written quite right. I'll go fix that.

As to the "chasm of uncertainty", I'm not uncertain at all. The price has to go up. If it doesn't, mining dries up, volume dries up, price will get stagnant, yada yada. Is that what we all want? The price isn't going to go up by itself.   Now IS the time to buy since the over supply from the miners, who kept dumping on strong bids are, for all intents and purposes, gone. This is true whether we stay at PoW for a few more weeks or go to PoS right now. Would it have been awesome to have PoS kick in right now? Yeah. But there's a delay. That's why we have the fallback in place at 1/block. The whole point of this exercise was to address the over supply issue somehow so that we could get the price to a more palatable level so that generators would start claiming their coins. To me that should be at least $0.10 if I'm going to convince anyone to claim coins. The demand has always been strong, now it seems to be "paused". The mission is still on track, the CCN team is continuing to work on figuring out how to properly address the issue they've bumped into. In the meantime, we're mining at 1/block instead of earning 1% interest. Big deal! LOL

I say carry on, add to your positions, push that price up to a level where is is profitable again, miners will come back, coins will be secure. It's all good.

But like I said, it isn't going to do it by itself. In one of my previous posts, I tried to show how even $0.04 cents would make it profitable to mine again. That's only four times the current value, it's certainly not out of reach or an outlandish goal. We can get there now without having to worry about a miner coming in and shoving it back down to a fraction of a penny. Ain't gonna happen anymore, that risk has been algo'd out of the equation. We're free to proceed now if we choose to.

That's my 2 photons.  

And here's my 2 photons...
Epiphany is correct that the price has to go up now. If it drops that is simply because not enough people are interested in Solarcoin which mean that WE have not done our job in spreading the word. Don't just expect the developers to take care of everything, those without any necessary skills to help directly with the mechanics of the coin have absolutely the most important job out there, the promotion of the coin and you don't even have to sell it,  thats the best part, just explain it to everyone with the same enthusiasm that brought you here in the first place, the concept will do the rest. So far I have brought over 6 investors to solarcoin for a total of over 4 bitcoin and that is in this month alone. People who had no interest in bitcoin OR cryptocurrencies. If everyone does their part we can have a constant stream of new investors who will bring the price up and up. Here are some of the points I personally use when telling the story of solarcoin...
1. I tell the basic story of Bitcoin, Satoshi and the blockchain.
2. I talk about the DeKo - http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1802166 - This is basically the story of how the solarcoin was realised
3. I talk about Joe and Nick and how they are not just some kids in a garage who decided to make a coin for the fun of it (point them to their LinkedIn profile, this always helps add credibility)
4. I talk about the concept of 1 mw = 1SLC
and 5. I talk about the target price of $20 to $30 and at this point I get out my calculator. I explain why the price of $20 to $30 has to be realized ultimately for this coin to really work as an effective rebate tool for PV system buyers and how more and more people claiming solarcoin = higher and higher price because of a healthy functioning ecosystem.

Ultimately... the success of this coin is on us and no one else so lets all promote the shit out of this coin using our enthusiasm and excitement as the ultimate selling tool!

Hope this helps

[1714994349]

1714994349

[1714994349]

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[LuckyKey]

Mining will continue until the new wallet gets released. We don't know yet at which block the proof of stake hard fork will take place.




Oh - I managed to misunderstand the original statement; "Starting on Block 310,000 the PoW block reward will go from §100 per block down to §1 per block over a 33-day period at which time the 100% PoS algorithm will be implemented".  We are a day away from SLR 1 per block - or even 0 per block if the '--3' continues - since we went to 99 and then --3 from there.  It will be instructive to see how many miners keep burning electricity mining a 2000S coin at 1 per minute.

I will keep my little gridseed farm online to protect the blockchain, but it seems like a chasm of uncertainty looming tomorrow.

Good point! I hadn't realized the OP wasn't written quite right. I'll go fix that.

As to the "chasm of uncertainty", I'm not uncertain at all. The price has to go up. If it doesn't, mining dries up, volume dries up, price will get stagnant, yada yada. Is that what we all want? The price isn't going to go up by itself.   Now IS the time to buy since the over supply from the miners, who kept dumping on strong bids are, for all intents and purposes, gone. This is true whether we stay at PoW for a few more weeks or go to PoS right now. Would it have been awesome to have PoS kick in right now? Yeah. But there's a delay. That's why we have the fallback in place at 1/block. The whole point of this exercise was to address the over supply issue somehow so that we could get the price to a more palatable level so that generators would start claiming their coins. To me that should be at least $0.10 if I'm going to convince anyone to claim coins. The demand has always been strong, now it seems to be "paused". The mission is still on track, the CCN team is continuing to work on figuring out how to properly address the issue they've bumped into. In the meantime, we're mining at 1/block instead of earning 1% interest. Big deal! LOL

I say carry on, add to your positions, push that price up to a level where is is profitable again, miners will come back, coins will be secure. It's all good.

But like I said, it isn't going to do it by itself. In one of my previous posts, I tried to show how even $0.04 cents would make it profitable to mine again. That's only four times the current value, it's certainly not out of reach or an outlandish goal. We can get there now without having to worry about a miner coming in and shoving it back down to a fraction of a penny. Ain't gonna happen anymore, that risk has been algo'd out of the equation. We're free to proceed now if we choose to.

That's my 2 photons.  

Epiphany,

Thanks for doing a great job in keeping the information flowing.  We will let everyone know ASAP when the new codebase is ready for the move to Proof of Stake. In the meantime, mining will be at the rate of 1/min, which is  roughly 1,440/day.  I am working on a white paper explaining a theory of monetary value via economic utility which puts forth a thesis for why SolarCoin or any token given a finite number can represent economic value if enough participants engage in its use.  Hope to have the paper out in 3-4 weeks time.  The general thesis involves the economic utility of a currency and the network effects of having more participants using it.  Basically, more users equates more places/people to spend/trade currency and goods with which increases economic utility.  

Bitcoin with a $5b market cap and lets say 5m users (using the term lightly) means each users creates/supports $1,000 in economic utility.    With say 34m SolarCoins in place a $20 utility would require X users. (X is estimated and varies non-linearly) as a function of the network scaling factor.  If it is metcalf's N^2 then 250k users would each produce roughly $330 each and 25k users would produce $33 in value each. at $33/user * 25k users=$8.25million/SLR 34million=$0.24/coin. (huge caveats on the multiplier network utility effect).  the other factor aftecting price is speculative value which is the buy in the hopes of prices going up crowd.  The foundation is interested in cultivating long term economic activity of users first and foremost.

lots of "looseness" in the model, but you get the idea.  25k users isn't a lot relative to a solar community and associates that is probably in excess of 500k employed http://www.irena.org/Publications/rejobs-annual-review-2014.pdf  and well over 2m globally aware or engaged as consumers. http://en.wikipedia.org/wiki/Solar_power_by_country


Nick

Hello Nick  

I like the math/ratios.

IMHO, it's clear there needs to be a Foundation sector/chapter dedicated to coin promotion.   There are so many potential avenues to explore. I'm going to throw out some random thoughts:

Does it make sense to try and promote the idea of solarcoin, in various retail spaces?  An obvious application is within the PV hardware and service spaces, but what about other green manufacturing?  Light bulbs? Exterior solar lights? Grass seed? Shovels @ Home Depot or Canadian Tire?  Other solar/pv products; i.e.  smaller kits for specific applications?  Calculators?  Recycled products? Compost materials? etc, etc.? Plants?  

What if, and I'm just throwing it out there, we hooked up with major "green" manufacturers and asked them to insert a solarcoin paper with each product?  It could be isolated to solar products, or possibly other green products?  That solarcoin paper insert could be a paper wallet, with a fraction of a solarcoin. Additionally, it could come with instructions on how to use the cryptocurrency, get a wallet, and get involved (be a part of) and support the solarcoin initiative.  It might be the quickest way to get that User base where it needs to be  

Thoughts?

[nickgogerty]

Yes there are lots of promotion ideas.  These are great and I think many in the community including myself would be happy to donate to these ideas.  I have given coins to people interested in learning about the § idea, to get the point across. I know that Epiphany has give coins away as a scholarship etc.

obviously anyone is free to create a cool program or idea and most likely the community / foundation would chip in SLR to support it.

After getting POS up and running, the next thing to explore is giving referal grants of 10% (suggested so far) to people who help refer claims.  For really large solar installations that could be a lot of coins.  The other thing would be to partner with large installer to get the word out via e-mail or other high-touch low costs methods.

there are free solar coins waiting to be claimed for solar electricity generators.  The claim process works out to roughly 1.3x nameplate capacity per year.  so  6KW = §9.  For a large 10 MW installation that is §1,300 / year.

This process of building users and economic utility value takes time.

Remember; Bitcoin was at below $1.00 for its first 2 years. http://en.wikipedia.org/wiki/History_of_Bitcoin

Nick

[vipgelsi]

We can all start as simple as puting a flyer about solarcoins in any persons mailbox if they have solar panels on there roof. start with your neighborhood.

[LuckyKey]

We can all start as simple as puting a flyer about solarcoins in any persons mailbox if they have solar panels on there roof. start with your neighborhood.

Good idea. Do we have such a flyer?  I seem to recall reading about someone writing about such a flyer, but cannot recall if one was completed?

If not, what would such a flyer contain?

- logo
- url for more info: solarcoin.org
- short description of initiative
- short description of how to claim
- enticing snippets -> perhaps future value/potential -> be part of the initiative
- ?

This could also be used as an insert to any promotional giveaway of soalrcoins too.

[mazzaneo]

We can all start as simple as puting a flyer about solarcoins in any persons mailbox if they have solar panels on there roof. start with your neighborhood.

Good idea. Do we have such a flyer?  I seem to recall reading about someone writing about such a flyer, but cannot recall if one was completed?

If not, what would such a flyer contain?

- logo
- url for more info: solarcoin.org
- short description of initiative
- short description of how to claim
- enticing snippets -> perhaps future value/potential -> be part of the initiative
- ?

This could also be used as an insert to any promotional giveaway of soalrcoins too.

I was talking about the flyer, i really like the idea of a wallet on each flyer but I fear that may be impractical. The costs to make each flyer unique would be huge i'd imagine. You could print out individual wallets and put them in each fler I guess but that would be quite time consuming.

[Epiphany]

Cryptopoolmining is back up and working again. Not sure what happened there...

[mazzaneo]

And then there was 1....

[vipgelsi]

We can all start as simple as puting a flyer about solarcoins in any persons mailbox if they have solar panels on there roof. start with your neighborhood.

Good idea. Do we have such a flyer?  I seem to recall reading about someone writing about such a flyer, but cannot recall if one was completed?

If not, what would such a flyer contain?

- logo
- url for more info: solarcoin.org
- short description of initiative
- short description of how to claim
- enticing snippets -> perhaps future value/potential -> be part of the initiative
- ?

This could also be used as an insert to any promotional giveaway of soalrcoins too.

I dont think we have a flyer yet but one could be made in a few mintes if i have some free time i will make one up. Please everyone with skills join in and make one also. And we can vote on which one to use.

And guys please buy some solarcoins lets pump the price up to gain attention.

[dbstmddhks]

1solarcoin per 1 block

Oh.

[terciops]

Cryptopoolmining is back up and working again. Not sure what happened there...

It is up superficially, but does not appear to accept hash.  Perhaps it is just available to collect any SLR in the pool.

[quantium]

Cryptopoolmining is back up and working again. Not sure what happened there...

It is up superficially, but does not appear to accept hash.  Perhaps it is just available to collect any SLR in the pool.

Odd that they haven't put anything up on the news folder. I also had some old SHA256 miners on Digibyte with them and the same thing happened there. The site has allowed me to take out both Solarcoins and Digibyte coins.

[nickgogerty]

We can all start as simple as puting a flyer about solarcoins in any persons mailbox if they have solar panels on there roof. start with your neighborhood.

Good idea. Do we have such a flyer?  I seem to recall reading about someone writing about such a flyer, but cannot recall if one was completed?

If not, what would such a flyer contain?

- logo
- url for more info: solarcoin.org
- short description of initiative
- short description of how to claim
- enticing snippets -> perhaps future value/potential -> be part of the initiative
- ?

This could also be used as an insert to any promotional giveaway of soalrcoins too.

I was talking about the flyer, i really like the idea of a wallet on each flyer but I fear that may be impractical. The costs to make each flyer unique would be huge i'd imagine. You could print out individual wallets and put them in each fler I guess but that would be quite time consuming.

Each flyer could just have an e-mail address and a unique ID random phrase.  person emails with phrase and address gets coin. could also start a dialog.  or even post a request in BTC forum.

[corather]

Block reward 1. I have three Gaw Fury's on this coin until PoS hits.

[dbstmddhks]

We can all start as simple as puting a flyer about solarcoins in any persons mailbox if they have solar panels on there roof. start with your neighborhood.

Good idea. Do we have such a flyer?  I seem to recall reading about someone writing about such a flyer, but cannot recall if one was completed?

If not, what would such a flyer contain?

- logo
- url for more info: solarcoin.org
- short description of initiative
- short description of how to claim
- enticing snippets -> perhaps future value/potential -> be part of the initiative
- ?

This could also be used as an insert to any promotional giveaway of soalrcoins too.

I was talking about the flyer, i really like the idea of a wallet on each flyer but I fear that may be impractical. The costs to make each flyer unique would be huge i'd imagine. You could print out individual wallets and put them in each fler I guess but that would be quite time consuming.

Each flyer could just have an e-mail address and a unique ID random phrase.  person emails with phrase and address gets coin. could also start a dialog.  or even post a request in BTC forum.

When can we see the wallet ??

[LuckyKey]

We can all start as simple as puting a flyer about solarcoins in any persons mailbox if they have solar panels on there roof. start with your neighborhood.

Good idea. Do we have such a flyer?  I seem to recall reading about someone writing about such a flyer, but cannot recall if one was completed?

If not, what would such a flyer contain?

- logo
- url for more info: solarcoin.org
- short description of initiative
- short description of how to claim
- enticing snippets -> perhaps future value/potential -> be part of the initiative
- ?

This could also be used as an insert to any promotional giveaway of soalrcoins too.

I was talking about the flyer, i really like the idea of a wallet on each flyer but I fear that may be impractical. The costs to make each flyer unique would be huge i'd imagine. You could print out individual wallets and put them in each fler I guess but that would be quite time consuming.

Each flyer could just have an e-mail address and a unique ID random phrase.  person emails with phrase and address gets coin. could also start a dialog.  or even post a request in BTC forum.

Maybe I can develop a web site to do this?  Would there be a general need for something like this - an automated giveaway of cryptocurrencies?  Maybe cryptogiveaway.com ?, where coin owners/promoters can deposit into a locally maintained wallet, and then define the terms of the giveaway.

To validate (terms), there could be a few different options. One such may be instead of responding to a publicized email address, maybe I could have the site accept the random phrase in one field and the User's wallet address in another? If the random phrase was one of the valid phrases (initially loaded ?), the site could automate sending coins to that wallet? The amount of coins to giveaway could be chosen (pre determined/set), or random. There could also be multiple types of giveaway, with a different amount of coins being given away, for different set of phrases; as the promotions and rewards could vary.

I'm half asleep right now, from working many hours over the last handful of days, so if anyone has something to add, or better thoughts, let me know.  I should be able to code something up fairly easily.  

It might be a nice way to get cryptocurrencies "out there", for all someone would then need to do is print and distribute flyers with the random phrases, and load the random phrases into the site, deposit into a local wallet, and define the terms of the give-away.

Thoughts?

[nickgogerty]

That is the fundamental premise of SolarCoin, is that an equitable means of distributing a currency is the proof of work of solar electricity generation.  the idea being that distribution grows the economics utility of the coin while also providing an incentive to produce solar electricity.  If you know of anyone generating solar electricity, you can tell them they have free solarcoins ready for claiming.  Just go to www.solarcoin.org

The idea is that the "value" assigned to a coin can have a positive externality namely incentivizing the generation of solar electricity.  SolarCoins reserve is designed to incent the next 40 years of solar electricity.  As it stands now, SolarCoins are tougher to get as they are generated at the rate of 1/min or 1,440/day. A solar farm of 1,000 KW might be able to claim 1,000KW x 24 x 365 x .015 = 3,600/ year. 

With claims retrocative to Jan 1/ 2010 that would work out to over §14,000.  Not bad for filling in a web form.

In addition there is likely 20 years worth of claims to made over the coming years which would be worth §72,000 over the years. 

[freebird]

Dear SolarCoin community,

I have been a dedicated volunteer for SolarCoin for about 7 months, and it has been an amazing learning experience. I have always believed SolarCoin is one of the cryptocurrencies with the most potential to change the world for the better, so it made sense to get involved and work hard for this project. I am grateful to Nick and Joe for the opportunity to be part of their team during the early stages of SolarCoin's development.

As I'm sure you all know, volunteering is something we can only do when we have enough free time available. Everyone's time is limited and everyone's time is valuable, and we must all make difficult decisions about how to use it.

Recently I decided to leave the SolarCoin team so that I can become one of the principals in a startup. Any successful startup requires a very high level of time commitment and dedication by its founding team, and my new position demands all the time and energy I've got.

I had hoped to announce this after we completed the transition to Proof of Stake, but unfortunately there have been some unexpected complications and delays on the development side. Other SolarCoin team members will be keeping you posted on these issues going forward.

Although I'll no longer be working for SolarCoin after the next week or so, I will continue to follow this project with interest as an investor. I am pleased to see other investors in this forum sharing ideas, and perhaps some of you will volunteer as I did. I wish you all the best with SolarCoin and hope it will rise to its potential.

Sincerely,
Eric (freebird)

[LuckyKey]

Dear SolarCoin community,

I have been a dedicated volunteer for SolarCoin for about 7 months, and it has been an amazing learning experience. I have always believed SolarCoin is one of the cryptocurrencies with the most potential to change the world for the better, so it made sense to get involved and work hard for this project. I am grateful to Nick and Joe for the opportunity to be part of their team during the early stages of SolarCoin's development.

As I'm sure you all know, volunteering is something we can only do when we have enough free time available. Everyone's time is limited and everyone's time is valuable, and we must all make difficult decisions about how to use it.

Recently I decided to leave the SolarCoin team so that I can become one of the principals in a startup. Any successful startup requires a very high level of time commitment and dedication by its founding team, and my new position demands all the time and energy I've got.

I had hoped to announce this after we completed the transition to Proof of Stake, but unfortunately there have been some unexpected complications and delays on the development side. Other SolarCoin team members will be keeping you posted on these issues going forward.

Although I'll no longer be working for SolarCoin after the next week or so, I will continue to follow this project with interest as an investor. I am pleased to see other investors in this forum sharing ideas, and perhaps some of you will volunteer as I did. I wish you all the best with SolarCoin and hope it will rise to its potential.

Sincerely,
Eric (freebird)

All the best Eric!  Good luck with the new endeavor. Maybe when things settle you can return and advance the cause some more  

[Epiphany]

Yes, all the very best Eric! Stop in now and again to say hi. I appreciate all the hard work you have put in over the past number of months and it was a real pleasure to have met you in person.