[ANN][SLR] SolarCoin - PoW reward for solar energy | the GREEN KING of Crypto

[passionsurf]

Can you guys add a search to the block explorer, showing like top 500 wallets or something??

Would be interesting to see some transparency as far as what wallets out there are holding the most...  This would definitely give a clear view if there are a few users holding more than 50% of the coins mined...

That would be interesting ... but even a major player might be dispersing his coins amongst several addresses.

[LuckyKey]

Really enjoying mining for thousands of solarcoins a day again 

[passionsurf]

Really enjoying mining for thousands of solarcoins a day again 

Yeah, it's almost like the good old days before SLR got listed on Allcrypt.

[terciops]

Really enjoying mining for thousands of solarcoins a day again 

Yeah, it's almost like the good old days before SLR got listed on Allcrypt.

Yes it is.  Although it is too early to be absolutely sure, the new 15 block DIFF change algorithm appears to have stopped the big swings.  For the big miners (whales?) it becomes a self defeating exercise and the apparent (but unproven) attempts to manipulate the DIFF have gone. 

The next issue is to see what happens to the value of SLR over the next while.  It doesn't matter much to me as I am mining for the long haul, but the next few days will be interesting as we see who unloads...  or not ...

Terciops


Mining solar with a handfull of Gridseeds at :

http://solar.prominer.org/ 
 

[freebird]

The next issue is to see what happens to the value of SLR over the next while.  It doesn't matter much to me as I am mining for the long haul, but the next few days will be interesting as we see who unloads...  or not ...

I personally find it hard to believe that any miner would find it profitable to mine SolarCoin and dump it into bids around 500-600 satoshis, but somebody keeps selling at these prices. It seems to defy logic.

I guess we'll find out soon enough if the selling will stop. It seems like now would be a good time for a long-term investor to take a large position. I wish I had thousands more dollars available to buy a million SLR at these insanely low prices.

[freebird]

Hi everyone,

Since PoS is a topic of interest around here, I want to let you all know that the SolarCoin Foundation Board has been having some in-depth conversations about ideas for possible PoS implementation or other ways to reduce the inflation rate. At this point, we're still just discussing various options and nothing has been decided yet. We're serious about improving the technical and economics aspects of this currency.

In that vein, I'd like to hear some thoughts from the community about a few ideas. If you had to pick between the following choices, which would you prefer?

A. Switch to PoS with a high staking interest rate (10%+ per year)
B. Switch to PoS with a lower staking interest rate (somewhere from 1% to 10% per year)
C. Continue PoW but reduce mining reward so that fewer new coins would be created.

If you can explain the reasons for your answer, that would be even more helpful. Thanks!

This is not an official survey, just one Board member who is curious to hear people's opinions.

[corather]

Hi everyone,

Since PoS is a topic of interest around here, I want to let you all know that the SolarCoin Foundation Board has been having some in-depth conversations about ideas for possible PoS implementation or other ways to reduce the inflation rate. At this point, we're still just discussing various options and nothing has been decided yet. We're serious about improving the technical and economics aspects of this currency.

In that vein, I'd like to hear some thoughts from the community about a few ideas. If you had to pick between the following choices, which would you prefer?

A. Switch to PoS with a high staking interest rate (10%+ per year)
B. Switch to PoS with a lower staking interest rate (somewhere from 1% to 10% per year)
C. Continue PoW but reduce mining reward so that fewer new coins would be created.

If you can explain the reasons for your answer, that would be even more helpful. Thanks!

This is not an official survey, just one Board member who is curious to hear people's opinions.

I can see PoS implemented in the future. An actuarial study should be performed to find the proper interest rate this coin should have, and whether it should be fixed, variable, what rate it should fluctuate etc. It will increase the incentive to producers to file a claim. If PoS is implemented however the mining reward will have to be reduced as a ratio of interest earnings otherwise the coin might inflate and could potentially ruin the incentive it's attempting to promote.

So yes on PoS and reduce PoW in a way that's proportional to the plan of the incentive. Making a mid course correction now can have great benefit to the entire program. It needs to be flexible but also not bend to every whim of the community.

[Epiphany]

Hi everyone,

Since PoS is a topic of interest around here, I want to let you all know that the SolarCoin Foundation Board has been having some in-depth conversations about ideas for possible PoS implementation or other ways to reduce the inflation rate. At this point, we're still just discussing various options and nothing has been decided yet. We're serious about improving the technical and economics aspects of this currency.

In that vein, I'd like to hear some thoughts from the community about a few ideas. If you had to pick between the following choices, which would you prefer?

A. Switch to PoS with a high staking interest rate (10%+ per year)
B. Switch to PoS with a lower staking interest rate (somewhere from 1% to 10% per year)
C. Continue PoW but reduce mining reward so that fewer new coins would be created.

If you can explain the reasons for your answer, that would be even more helpful. Thanks!

This is not an official survey, just one Board member who is curious to hear people's opinions.

I can see PoS implemented in the future. An actuarial study should be performed to find the proper interest rate this coin should have, and whether it should be fixed, variable, what rate it should fluctuate etc. It will increase the incentive to producers to file a claim. If PoS is implemented however the mining reward will have to be reduced as a ratio of interest earnings otherwise the coin might inflate and could potentially ruin the incentive it's attempting to promote.

So yes on PoS and reduce PoW in a way that's proportional to the plan of the incentive. Making a mid course correction now can have great benefit to the entire program. It needs to be flexible but also not bend to every whim of the community.

That's essentially the proposal I worked on all weekend and put forward to the Board! (What Charles is describing)

[Epiphany]

What was the network hash rate before all the shenanigans started with exploiting the difficulty adjustment? I can't remember...

[deathmul]

Pfff...price is riddiculous low

[vipgelsi]

Hi everyone,

Since PoS is a topic of interest around here, I want to let you all know that the SolarCoin Foundation Board has been having some in-depth conversations about ideas for possible PoS implementation or other ways to reduce the inflation rate. At this point, we're still just discussing various options and nothing has been decided yet. We're serious about improving the technical and economics aspects of this currency.

In that vein, I'd like to hear some thoughts from the community about a few ideas. If you had to pick between the following choices, which would you prefer?

A. Switch to PoS with a high staking interest rate (10%+ per year)
B. Switch to PoS with a lower staking interest rate (somewhere from 1% to 10% per year)
C. Continue PoW but reduce mining reward so that fewer new coins would be created.

If you can explain the reasons for your answer, that would be even more helpful. Thanks!

This is not an official survey, just one Board member who is curious to hear people's opinions.

I would choose option B  with around 3.5% interest rate a year. that changes every year per the board.

Also the block reward would need to drop from 100 to around 1 to 5 coins a minute

PoS would also help the housholds that get there solarcoins from solarpower most of these people do not mine coins
as they would get 3.5% a year for holding on to there coins without having to mine them.
This would also be better then gold or silver coins since they pay no interest  

This would add another selling point when a person from a solar install company tells a home buyer not only will you be able
to claim solar coins but you get interest on the ones you claim as long as you hold them.

[Epiphany]

Absolutely fantastic article out today by Sam Bliss! It got me all excited again.

http://www.triplepundit.com/2014/06/solarcoin-digital-eco-money-can-equitable/

[LuckyKey]

Hi everyone,

Since PoS is a topic of interest around here, I want to let you all know that the SolarCoin Foundation Board has been having some in-depth conversations about ideas for possible PoS implementation or other ways to reduce the inflation rate. At this point, we're still just discussing various options and nothing has been decided yet. We're serious about improving the technical and economics aspects of this currency.

In that vein, I'd like to hear some thoughts from the community about a few ideas. If you had to pick between the following choices, which would you prefer?

A. Switch to PoS with a high staking interest rate (10%+ per year)
B. Switch to PoS with a lower staking interest rate (somewhere from 1% to 10% per year)
C. Continue PoW but reduce mining reward so that fewer new coins would be created.

If you can explain the reasons for your answer, that would be even more helpful. Thanks!

This is not an official survey, just one Board member who is curious to hear people's opinions.

I would choose option B  with around 3.5% interest rate a year. that changes every year per the board.

Also the block reward would need to drop from 100 to around 1 to 5 coins a minute

PoS would also help the housholds that get there solarcoins from solarpower most of these people do not mine coins
as they would get 3.5% a year for holding on to there coins without having to mine them.
This would also be better then gold or silver coins since they pay no interest  

This would add another selling point when a person from a solar install company tells a home buyer not only will you be able
to claim solar coins but you get interest on the ones you claim as long as you hold them.

+1 both corather & vipgelsi ideas :-)

[Epiphany]

Pfff...price is riddiculous low

That's because at this difficulty, it's cheaper to mine them than buy them? Although not by much now. I bought a contract on NiceHash last night and mined away at 50 MHs. The total cost per SLR was 378 satoshis by the time my contract was done. So I went ahead and bought another contract today since the price when I last checked was 500 sats.

I'd suggest if your goal is to accumulate coins, start mining them again. Things have stabilized nicely on the mining front now, so if people do point machines here again (or hash contracts), the difficulty will go back up and so will the price. That's how it's supposed to work anyway, right?  

I think we're stuck in a catch 22 situation right now because it's not profitable to mine, but if your goal is to accumulate more SLR before block halving (or switch to PoS, whichever comes first), then mining seems to be the answer. But if too many do that then the volume on the exchanges might dry up and price could still suffer. Or it could go back up. I have no idea...

All I know is that I am accumulating more and don't intend to sell them anytime soon...  

[vipgelsi]

picked up 52,000 solarcoins for $213.00

Thank you.  

[Epiphany]

picked up 52,000 solarcoins for $213.00

Thank you.  

Shut UP! Nice! 

[Epiphany]

Shiiit... Looks like my strategy is a loser already! LOL Difficulty popped to 11 as I was typing. Maybe someone is trying the same strategy I am??? I should have just bought them like Vip did. 

[vipgelsi]

picked up 52,000 solarcoins for $213.00

Thank you.  

Shut UP! Nice! 

 

[Epiphany]

I was trying to figure out where the extra hash rate was coming from and looky! Miningpoolhub is quite active! I didn't even know about them and they're right on page 1. Nice. 

http://solarcoin.miningpoolhub.com/

256 MHs and 7 miners.

[terciops]

I was trying to figure out where the extra hash rate was coming from and looky! Miningpoolhub is quite active! I didn't even know about them and they're right on page 1. Nice. 

http://solarcoin.miningpoolhub.com/

256 MHs and 7 miners.

A whale with ~320MHz of hash (scrypthash) has been doing the rounds of SolarCoin in the past few hours.  He was on Prominer.org for a while and blew up the front end.  He then moved to solarcoin.miningpoolhub where currently they are showing 456Mhz of a grand total of 566Mhz.  Not that healthy a situation and well over the 51% ....

With the new large bore ASICs obviously now coming on line, this local swamping of the traditional (smaller) rigs will be a real problem for pool stability, not to mention the very real possibly of a chain takeover.