Re: [ANN][SLR] SolarCoin - PoW reward for solar energy

Question. Am I correct in understanding that CryptoPoolMining effectively has over 90% of the network hashrate for this coin? Isn't this a BAD thing? I'm familiar with the possibility of a 51% attack with BTC and other crypto's which has prompted me to ask. I really like this coin, but having all that power in one place really seems like a bad idea.

But there is no incentive to switch to a smaller pool where the payoff takes a lot longer. If one of the other pools could have a block finder's bonus or some other bonuses, then maybe it'd be worth switching.

The nice thing about mining this coin is that the majority of the other miners are all holding their coins rather than dumping. If any of the current altcoins take off, this one has the most promise!

Yes everyone is holding cause this coin will be huge the next btc

also I wonder how many coins are left to mine

105 Million SolarCoins (0.1%) to be publicly mined over the next 40 years.
now @ block (not in a position to look right now but based on previous getmininginfo couple post earlier) approx 100000
so 100.000 x 100 = 10.000.000
105.000.000 - 10.000.000 = 95.000.000 still left to mine (in the next 40 years)

Actually... the mining of coins will be effectively complete over the next 5-7 years. See the FAQ page here, look under "What is the SolarCoin mining rate" and check out the chart. http://solarcoin.org/faq-frequently-asked-questions/

Here is the text under that question:

Quote

Every minute a SolarCoin block is mined and visible in the BlockChain. The current reward as of 2014 is 100 SLR. The reward declines 50% each year. This rapid reward decay is designed to maximize initial equitable issuance and network stability while minimizing ongoing carbon footprint relative to other longer decay currencies. A full explanation of the carbon footprint model is available in the SolarCoin Wiki.