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Nevandal
 Post subject: SolidCoin 2.0
PostPosted: Sat Oct 08, 2011 3:52 am 
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SolidCoin 2.0 public beta is now released!

http://solidcointalk.org/topic/252-soli ... blic-beta/

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SolidCoin is an open source digital currency, based on the cryptocurrency Bitcoin, which is distributed over a peer-to-peer network to offer irreversible, low-cost, anonymous and decentralized monetary transactions.


I've made $1500 off of Bitcoin mining/investing, and if this is anything like Bitcoin *Everyone* should be getting in on this. You have nothing but clock cycles (and a bit of electricity) to lose. The client is extremely easy to use, the mining is integrated. CPU mining now, any CPU will work.

When I started bitcoin, it took me a few hours to get everything set up and start mining. With SolidCoin 2.0, I was able to download the client and start solo mining immediately and I've already generated about 15 genesis blocks since the beta went live about an hour ago. That's 32 coins per block.

If you get in early on the real release the difficulty should be low enough that you should be able to scoop up a few genesis blocks and some free money.


I've talked to the dev, he's a good guy, very dedicated. SolidCoin 2.0 is more secure than Bitcoin, immune to the 51% attack, and he has very big plans for making it easier and more integrated to use SolidCoin, and the ultimate goal here is to get SC accepted as payment on big retailers like Amazon.com. There are already 3 pools working and ready for launch and multiple SC/USD exchanges ready for launch as well.

I expect to see SolidCoin hit $1 USD within 3-6 months if all goes well.

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Müs
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PostPosted: Sat Oct 08, 2011 12:21 pm 
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What pool are you using?

I can't get guiminer to work, but the SC client is working, but its not using my vid card like its supposed to.

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Nevandal
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PostPosted: Sat Oct 08, 2011 2:14 pm 
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It mines with your CPU, not GPU.

They changed the code. It doesn't work with graphics cards anymore.

I'm solo mining right now...check out the forums for a list of pools.


Just solo mine in the SC client or join a pool and put the info in the SC Client.


No need for GUIminer.

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Müs
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PostPosted: Sat Oct 08, 2011 3:08 pm 
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Yar. I got it working :)

Using SCminer on my CPU, and GUIminer to mine BTC on the vid card.

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Elmarnieh
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PostPosted: Sat Oct 08, 2011 3:32 pm 
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OK I installed it and ran it and...yeah what now?

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Taskiss
 Post subject: Re:
PostPosted: Sat Oct 08, 2011 4:33 pm 
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Elmarnieh wrote:
OK I installed it and ran it and...yeah what now?

Profit!

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Elmarnieh
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PostPosted: Sat Oct 08, 2011 8:06 pm 
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Ok I made 32 in 4 hours...how much are they each?

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Nevandal
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PostPosted: Sat Oct 08, 2011 8:13 pm 
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It's beta right now so nothing.


Before the network was taken down they were trading for about 0.01 Bitcoin per SolidCoin, and the price of Bitcoin was about $5, so SolidCoins were worth about 5 cents each. Trading has been disabled (you can't withdraw your SC from any exchanges, because the network is down--if they let you withdraw now your coins would be lost).

I expect the real release in a few more days (he said Sunday or Monday if things go well) and I'm sure the price will stabilize / increase on whatever exchanges they have supporting the currency.

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Elmarnieh
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PostPosted: Sat Oct 08, 2011 8:17 pm 
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Will this same client be used after beta?

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Nevandal
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PostPosted: Sat Oct 08, 2011 8:20 pm 
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You'll probably have to redownload the client. Right now the client is setup to work in a testnet folder by default, and connect to the test network.

Elmarnieh wrote:
Ok I made 32 in 4 hours...how much are they each?


Also to give an idea of how important it is to get in on it early, I installed the beta client the moment it was released and started solo mining

I got about 15 blocks in my first hour....right around 500 coins or so. I'm only mining at about 65khash/s. The reason I got so many coins so fast is because the difficulty was set at only 8 when I started. Now the difficulty is at 1372.


When SC2.0 goes live, I'm going to solo mine for the first couple days, until it reaches a few thousand difficulty then I'll probably switch back to pooled mining. I might have to call into work just so I can start mining the second it comes out.

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Nevandal
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PostPosted: Sun Oct 09, 2011 10:42 am 
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Countdown...

http://solidcoin.info/

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Nevandal
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PostPosted: Mon Oct 10, 2011 3:39 pm 
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Less than 3 hours to launch.



www.squidnet.org/ is a good SolidCoin mining pool

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Nevandal
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PostPosted: Mon Oct 10, 2011 7:31 pm 
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Everyone should be mining by now.

http://dl.dropbox.com/u/38674765/solidcoin200-setup.exe

http://dl.dropbox.com/u/38674765/solidc ... inux64.bz2

http://dl.dropbox.com/u/38674765/solidc ... inux32.bz2

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FarSky
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PostPosted: Mon Oct 10, 2011 7:37 pm 
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I have to say I absolutely cannot wrap my head around this.
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Taskiss
 Post subject: Re:
PostPosted: Mon Oct 10, 2011 8:10 pm 
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FarSky wrote:
I have to say I absolutely cannot wrap my head around this.

Think of it as a bunch of geeks passing money around using a process sort of like how guilds award loot, but without playing a game. It's a reward based time sink.

I'd rather work for the money myself, up to and including physical labor.

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Nevandal
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PostPosted: Mon Oct 10, 2011 8:34 pm 
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I do physical labor already; this is for side income ;)

If anyone has any questions I can try to explain anything about cryptocurrency. I am not a programmer, however, but I can do my best.


All I can say for now is that if you start mining on Squidnet now, chances are in a few months you will thank me.


And Taskiss is right to a certain extent :)

I'm in it to take advantage of the hype.

There are three possible scenarios here:

1. Solidcoin doesn't get popular, and fizzles out. I lose most of my $750 investment and all the time/electricity spend mining is wasted.

2. Solidcoin gets popular and rides on the hype and/or a pump and dump ponzi. In this scenario, early adopters will be rewarded if they sell their solidcoins before the big guys dump/sell theirs. If you're just mining, and you're not able to sell, you don't really lose much unless you invested with cash like I did. Speculators love this scenario.

3. Solidcoin becomes popular and legitimate, small businesses start accepting it as payment and the price / volume increase. You can hold onto your coins for the long term and trade them freely between dollars / solidcoins. If you were an early adopter, you will profit. Your long term value investors are gonna be in this camp.



I'm hoping for scenario 3, but scenario 2 ain't so bad either, if you learn to take profit along the way.


Truth is, no matter what, if you're mining right now you are eventually going to have money you didn't have. As for the amount, only time will tell.

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Müs
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PostPosted: Mon Oct 10, 2011 8:48 pm 
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Off we go then ;)

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Nevandal
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PostPosted: Mon Oct 10, 2011 9:15 pm 
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I'm not even solo mining...apparently the hashrates are 1/4th what they were in the public beta. I was getting 65khs in the public beta, but now i'm getting about 17-18 khash/s.

Difficulty just went back up to 7.

RealSolid wrote:
block value = base_value + (base_value*(difficulty/100000))+ fees




Anyways...Yeah, I'm on Squidnet.org now. I shouldn't have even wasted the 5 minutes trying to solo mine. Even though it would be nice to get like 10-20 blocks on my own, the number of people in the real network is much higher than public beta I think and I don't want to risk the few hours / days trying to mine alone if I'm not going to get much.

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Aethien
 Post subject: Re:
PostPosted: Mon Oct 10, 2011 11:16 pm 
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FarSky wrote:
I have to say I absolutely cannot wrap my head around this.

Ginger!

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Nevandal
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PostPosted: Mon Oct 10, 2011 11:24 pm 
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Spoiler:
[22:56] <RealSolid> not yet no
[22:56] <nev> good idea though huh
[22:57] <RealSolid> yeah
[22:57] <nev> i would feel more comfortable running my cpu all the time at 90% rather than 100%
[22:57] <nev> and i wonder by doing that if you could more often overclock with stock cooling and see an increased hash rate
[23:08] <nev> why does squidnet display my SC in 8 decimal points?
[23:08] <RealSolid> not sure
[23:08] <nev> its not still somehow coded into solidcoin that there are 8 decimal points is it?
[23:09] <nev> man what a sweet way to make money if you could round off those decimal places ala Office Space
[23:10] <RealSolid> nope only 4
[23:10] <RealSolid> though some of the old btc compatible functions return 8
[23:10] <RealSolid> like
[23:11] <RealSolid> 13.42120000
[23:11] <RealSolid> if that makes sense
[23:11] <RealSolid> at least i think they do
[23:11] <nev> hmmm
[23:11] <nev> i see
[23:11] <nev> whats it written in C?
[23:12] <nev> if you were doing the office space thing i would laugh so hard
[23:13] <RealSolid> haha
[23:13] <RealSolid> nah its in integers
[23:13] <RealSolid> so 1SC in ints is now 10000
[23:13] <RealSolid> there is now ay to have more than 4 decimals
[23:13] <nev> ok
[23:14] <nev> that's good to know
[23:14] <nev> in that case it's squidnet just being more accurate with the rewards
[23:14] <nev> at least i think that's what that means.
[23:15] <RealSolid> not sure what it means
[23:15] <RealSolid> but there isnt more than 4 decimals
[23:15] <RealSolid> its scraps after the 4th anyhow so kinda irrelevant



I can't believe some of the hash rates these guys are getting. I've been talking to a few of them on IRC and some of them have a bunch of dell rack servers with 8-core xeons (these things cost $25k or $700 to rent). One guy built a bunch of PC's for 200 bucks each and he's getting 100khash on each. Unfortunately when I tried to find the same setup on newegg, the processor was over twice what he was paying. I know there are a few groups of people who are pooling up under 1 username and pooling their SC together.

Very interesting things will be happening with SolidCoin in the next few weeks for sure, and hopefully months and years to come.

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Nevandal
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PostPosted: Tue Oct 11, 2011 2:22 am 
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I've mined 200 solidcoins so far :)

(7 hours)

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Elmarnieh
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PostPosted: Tue Oct 11, 2011 8:05 am 
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So what do I need to do when I get home? Do I need to redownload the client or something?

I have 199 solidcoins in that wallet...are they gone now?

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Nevandal
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PostPosted: Tue Oct 11, 2011 12:15 pm 
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yeah the coins mined during beta do not count


yes you need to redownload the client




BTC-E has enabled SC deposits/withdrawals

https://btc-e.com/sc_exchanger
https://btc-e.com/sc_usd_exchanger


The other exchange, Solidcoin24 is picking up in volume a bit:

https://solidcoin24.com/

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Elmarnieh
 Post subject: Re: SolidCoin 2.0
PostPosted: Tue Oct 11, 2011 1:03 pm 
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Ok is the client as simple to use as it was before?

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Elmarnieh
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PostPosted: Tue Oct 11, 2011 1:56 pm 
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Up and running at home. My hash rate is around 15.7 is that normal?

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