[ANN] SMLY- smileycoin - for rewards in education

[gstefans]

                                                                                                       


                                                                                                       SMILEY HAS BEING ADDED ON COINS-E MARKET:



                                                                                                         https://www.coins-e.com/exchange/SMLY_BTC/

Cool, thank you.

Is there a problem with the wallets, though? I tried to create a new wallet but nothing seemed to happen.

It seems to be ok. My is syncing and I am on block 33793.

I was actually referring to the wallets on coins-e: Has anyone been able to buy/sell SMLY on coins-e?

Not yet...sorry
I think It will be OK to contact them..they will respond quickly

Done, we'll see how this goes. I can't get anywhere with their market - has anyone else had any success?

[gstefans]

KGW is ok but it releases blocks in 'bursts' QTL uses it

Digishield is the worst - it's what ruined NAUT

We'll see what we can do. It's going to be difficult to do anything major before the holidays though, especially as we don't really want a quick-fix...

On our part we will start any and all miners we have access to, but that is probably just a drop in the bucket. We would really appreciate any help we can get in order to complete the round until the next reduction in difficulty.

This is related to the dump also of course: the low price presumably makes it infeasible to mine, from a pure economic point of view. So we should try to point out that SMLY are available at a very low price at the moment.

[sony87]

when can we expect the diff to drop from 33 to something real representing the actual network hashrate ?

[gstefans]

when can we expect the diff to drop from 33 to something real representing the actual network hashrate ?

We've managed to add some hashes so we should get the difficulty down in a day or two. In the meantime the hashrate is already up and should increase more over the next several hours; so we should also be seeing faster confirmations today.

[sony87]

when can we expect the diff to drop from 33 to something real representing the actual network hashrate ?

We've managed to add some hashes so we should get the difficulty down in a day or two. In the meantime the hashrate is already up and should increase more over the next several hours; so we should also be seeing faster confirmations today.

i'm helping you also in the pool with 30mh

edit: what is the calculation for the difficulty ? i think it should start to decrease at least with something, it's stuck on 33.40 and no moves.

[gstefans]

when can we expect the diff to drop from 33 to something real representing the actual network hashrate ?

We've managed to add some hashes so we should get the difficulty down in a day or two. In the meantime the hashrate is already up and should increase more over the next several hours; so we should also be seeing faster confirmations today.

i'm helping you also in the pool with 30mh

edit: what is the calculation for the difficulty ? i think it should start to decrease at least with something, it's stuck on 33.40 and no moves.

Thanks.

The difficulty schedule was for it to be recalculated every 3600 blocks, which was supposed to happen every 5 days under "normal" circumstances. It has now taken so long to generate the most recent blccks that we should see a reduction in difficulty by a factor of 4 whenever we get through the current 3600.

[sony87]

when can we expect the diff to drop from 33 to something real representing the actual network hashrate ?

We've managed to add some hashes so we should get the difficulty down in a day or two. In the meantime the hashrate is already up and should increase more over the next several hours; so we should also be seeing faster confirmations today.

i'm helping you also in the pool with 30mh

edit: what is the calculation for the difficulty ? i think it should start to decrease at least with something, it's stuck on 33.40 and no moves.

Thanks.

The difficulty schedule was for it to be recalculated every 3600 blocks, which was supposed to happen every 5 days under "normal" circumstances. It has now taken so long to generate the most recent blccks that we should see a reduction in difficulty by a factor of 4 whenever we get through the current 3600.

So at current hashrate around 25blocks per hours (best case) this means 600 blocks per day which is 6 days for 3600 block. I don't think it's work spending ~1.2BTC of renting hash to push this. Best and easy way is to fork the code with diff readjustment every 4 blocks as suggested. When this is stable you will gave miners more profitability and buyers more interest. At later state implement whatever diff algorithm you want.
I vote +1 for that.

update: Ok seems your 6GHs are moving the blocks but be careful to not leave it like "Est. Next Difficulty   254.52020030"

[gstefans]

when can we expect the diff to drop from 33 to something real representing the actual network hashrate ?

We've managed to add some hashes so we should get the difficulty down in a day or two. In the meantime the hashrate is already up and should increase more over the next several hours; so we should also be seeing faster confirmations today.

i'm helping you also in the pool with 30mh

edit: what is the calculation for the difficulty ? i think it should start to decrease at least with something, it's stuck on 33.40 and no moves.

Thanks.

The difficulty schedule was for it to be recalculated every 3600 blocks, which was supposed to happen every 5 days under "normal" circumstances. It has now taken so long to generate the most recent blccks that we should see a reduction in difficulty by a factor of 4 whenever we get through the current 3600.

So at current hashrate around 25blocks per hours (best case) this means 600 blocks per day which is 6 days for 3600 block. I don't think it's work spending ~1.2BTC of renting hash to push this. Best and easy way is to fork the code with diff readjustment every 4 blocks as suggested. When this is stable you will gave miners more profitability and buyers more interest. At later state implement whatever diff algorithm you want.
I vote +1 for that.

update: Ok seems your 6GHs are moving the blocks but be careful to not leave it like "Est. Next Difficulty   254.52020030"

Yeah 

Actually we were down to 1 block per 24 hrs and we would never have gotten out of that one.

[sony87]

I told you it's waste of time and money to try to push the block, fork with correct difficult adjustment. What is stopping you ?

[gstefans]

I told you it's waste of time and money to try to push the block, fork with correct difficult adjustment. What is stopping you ?

Just the holidays: I think I mentioned earlier that we wouldn't do any programming changes before that. Also, for my own part I really don't like any quick-fixes; I would much rather think this carefully through and implement only longer-term changes.

But I have a simple question for those of you who have done this before: How do you get everyone to move to the new version?

[sony87]

I told you it's waste of time and money to try to push the block, fork with correct difficult adjustment. What is stopping you ?

Just the holidays: I think I mentioned earlier that we wouldn't do any programming changes before that. Also, for my own part I really don't like any quick-fixes; I would much rather think this carefully through and implement only longer-term changes.

But I have a simple question for those of you who have done this before: How do you get everyone to move to the new version?

uhh... you update the source code, recompile wall wallets and that's all, pools update from source, basically no one would be able to be on the "old" difficulty. Maybe some  can explain it with more technical details than me.

[gstefans]

I told you it's waste of time and money to try to push the block, fork with correct difficult adjustment. What is stopping you ?

Just the holidays: I think I mentioned earlier that we wouldn't do any programming changes before that. Also, for my own part I really don't like any quick-fixes; I would much rather think this carefully through and implement only longer-term changes.

But I have a simple question for those of you who have done this before: How do you get everyone to move to the new version?

uhh... you update the source code, recompile wall wallets and that's all, pools update from source, basically no one would be able to be on the "old" difficulty. Maybe some  can explain it with more technical details than me.

Well, this is my first time:-) Wouldn't you need to ensure that everyone moved over to the new source? What happens if a large miner decides not to?

[dida]

I told you it's waste of time and money to try to push the block, fork with correct difficult adjustment. What is stopping you ?

Just the holidays: I think I mentioned earlier that we wouldn't do any programming changes before that. Also, for my own part I really don't like any quick-fixes; I would much rather think this carefully through and implement only longer-term changes.

But I have a simple question for those of you who have done this before: How do you get everyone to move to the new version?

uhh... you update the source code, recompile wall wallets and that's all, pools update from source, basically no one would be able to be on the "old" difficulty. Maybe some  can explain it with more technical details than me.

Well, this is my first time:-) Wouldn't you need to ensure that everyone moved over to the new source? What happens if a large miner decides not to?

...don't worry they will. Announce on the first page of this thread with big RED letters ;-).

Also contact pools so they can adjust

[dida]

Happy New Year to all Smileys

[gstefans]

Happy New Year to all Smileys

Happy New Year everyone.

Here is to a good Smiley Year!

[gstefans]

Everyone reading this thread should know that the primary purpose of the SMLY is as a reward in the tutor-web.net educational system and the premine was for that purpose. See tutor-web.info for more info.

The development of tutor-web content and drills in 2014 included new grading schemes, the SMLY cryptocurrency rewards, timeout features etc. See a blog at http://bit.ly/1AlmJdM

The tutor-web rewards need some further thought: We had initially talked about "small" rewards for minimal performance, "high" for good performance and "very high" for exceptional performance. The thinking at the time was to use 1, 10 and 100 SMLY or 1, 100 and 1000 for each of those. This has only been tested in a single class during the pre-mine phase so we do not have any experience - nor does anyone else:-) But we are now leaning towards thinking about the entire educational reward system in a way similar to the block rewards for mining. The total number of coins will be 50 billion, 50% for each type of rewards. The block rewards are set to be 12.5 billion over the first 7 years and then go down by 50% every 7-year period. If we do the same for the educational rewards, then we will see the same annual totals and we can simply replace the 1, 10 and 100 by numbers which will become approximately 12.5 billion over the first 7 years.

The thing is that this will probably imply that the rewards for excellence can be about 1 million SMLY, a fun number though it is worth less than $1 as of today. Thus we can expand enormously the difference between mediocre performance and excellence in an attempt to really pull the students towards working harder.

I'd like your feedback on this idea, which I will also put as an update into our mission statement on tutor-web.info.

(yeah, there are all sorts of things to think about in terms of implementation to reduce the chances of cheating, easy money etc etc - we do our best and I'll try to document the details as we go)

[gstefans]

CCAS:  An open course on Computing and Calculus for Applied Statistics will start next week, Jan 12, 2015. This course is intended to give students a useful background in math and computing, for using and studying applied statistics.

This will be the first full course to use SMLY for rewards.

See http://bit.ly/tw-ccas

[gstefans]

The lifeforce pool has been experiencing problems with their SMLY wallet and has now closed for SMLY mining.

For pooled mining use stratum-eu1.hashlink.eu:3045

[sony87]

@gstefans - any development news ?

[gstefans]

@gstefans - any development news ?

This is what is going on at the moment:

We're testing the coin in a real course (two, actually) and it'll be interesting to see how that pans out.

Everyone seems to agree that Bitcoin is becoming useful and interesting as a direct result of actual use, not just because it is a cool idea or because of speculation. Similarly, the main cause of failure in the AUR experiment was probably a lack of applications. In that scenario there is only a supply but no real demand and this can only lead to a dump towards zero value.

The same applies to the SMLY: The initial mining led to a dump and there is no demand (to speak of) for the coin, but a constant supply of new coins through mining (and later through educational rewards).

The next step is therefore to find some actual applications and we would love some feedback from you folks. Since the SMLY is used to reward students, it should be possible to use these wherever stores or companies are willing to give students a discount. We are thinking about things like the following:

• Discounts in campus bookstores, coffe shops
• Swap SMLY for points at selected airlines
• Use SMLY as a currency in a computer game
• Buy or get discounts for on-line books
• Buy or get serious discounts on used PCs being sold from campus computer labs

A slightly different way is to approach stores with discounts for certain card holders or club members to either

• give 20% discount to students who can pay e.g. 1 million SMLY
• take SMLY directly as payments, corresponding to an hourly rate for student's work (not the exchange rate)

Some of these are just ideas; others are being investigated through formal cooperation with other groups and research grant proposals.

We're also looking for cooperation with economists and industrial engineers who can use the SMLY in their classes. For example an econ instructor can set up a class project to find ways to implement SMLY in different ways or an industrial engineer can ask his class to optimise how to buy or sell SMLY at exchanges or provide liquidity. One of these is already underway.