You need Metamask (make sure you're properly logged into Metamask).

However: the spending address is currently out of funds, so even with Metamask, an attempted withdrawal would fail.

You just outed yourself as being among the first 10,000 users. Anyway, congrats.

I don't know the answer to your question (or if they ever plan to remove the restriction). However, the fee is so high because the token is worth almost nothing, but yet, they have to pay the transactions fees with it (actually they don't: their addresses are pre-loaded with ETH to pay the transaction fees, and they just collect the equivalent POW, so if the token should gain in value later on, they win).

It's awfully quiet around the devs lately. I wonder what they're doing (or if they're doing anything). One thing they should do IMO (once their rig is sufficiently stable) is market the hell out of POWlite. I don't think of the setup so much as a cryptocurrency. It's more like a centralised social media payment system with a blockchain functionality tacked on. Which could be pretty cool in its own right: a fee-less payment system (they don't need fees: if it takes off, they're going to be rich via the blockchain portion), easy to use for all the social media users who know shit about cryptos.

On the technical level, I wish POWlite had an API. Integrating POWlite as a payment system into apps could be a great multiplier.

Oh, and if it ever takes off, the fees will go down drastically. The restriction, on the other hand, will be meaningless except for a very small number (compared to the total number of users) of rich people.

Seems to work now. Never mind.

So I've tried this bridge thing, but my transaction fails (transaction fees and the amount of the failed transaction are refunded, though).

Looking at their smart contract on etherscan, it seems like the bridge worked at some point, but stopped working almost 9 hours ago (the last successful transaction I could find was https://etherscan.io/tx/0xd82daa000c5c9713bfbab83db01ff1b75b419b2e11aaae3029453d71688fb03e)

Anyone know what's up?

The tweet mentions an "RPC test net", so the tx won't be on the main chain. I checked the testnets on https://testnet.etherscan.io/, no such tx. Then I checked for the destination account, and found this:

https://ropsten.etherscan.io/address/0x39e6bc7e394a5536295d5b1e0c8e7f85da634926#tokentxns

There are some "POWtest" transactions. No idea how this relates to the tweet and the bridge, however.

I don't quite get yet how the k-of-n threshold scheme comes in (maybe it's out of the scope of that paper?), but in general, this is great news. I hope a BIP detailing the actual implementation into Bitcoin will be forthcoming soon.

No and no: https://github.com/tulipcoins/tulipcoin/blob/master/src/main.h#L31

Yeah, coin has entered its PoS phase. If you have funds, you can stake, but at this point, most of the staking power is with the dev, so depending on your funds, expect several days to mine a block.

I'm not so thrilled. 20 % premine, 2 % PoW reward, then PoS. This means: no real coin because dev holds ~90 % of the staking power.

Dev, do you want to fix this imbalance? Extended airdrop, time lock, or similar?

1000$/kW is actually pretty cheap for a ~20 kW installation. But it's possible, depending on labour costs in your region. You'd need about 150 m² for the panels. Solar is a long-term investment, amortisation time depending on your latitude and climate ~5-15 years typical.

Do you get the 12 hours of free electricity only if you cover the remaining 12 hours? Even so, you could rent a dgen, earn some bitcoins, then invest in solar and ditch the gen.

Also this: https://coinmarketcap.com/currencies/solarcoin/ (1 coin = 1 MWh; I'm not really serious but the price has gone up quite a bit lately).

What's the size of your grid connection? If it can handle twice the amount of power (actually a bit more) than you'd need when running on the grid for 24 h, you could store the energy as LoyceV suggested. Storage solutions are always expensive, though. Hydro storage only works in certain topographies. You might try a sodium sulphur battery (once of the cheapest chemical battery solutions for your power to capacity ratio).

If that doesn't work, your own generation is the way to go. Are you sure solar panels are too expensive?
Is there running water near your place? Could a small running water plant work?
Is your region a good place for geothermal power?

Sorry to say it's also quite possible that there is no economic solution for your problem.

Unfortunately, Shor's is stronger than just quadratic speedup: in the case of secp256k1 it transforms the roughly 2²⁵⁶ into roughly 256³. This writeup: https://arxiv.org/abs/quant-ph/0012084 while a bit technical, details what's going on under the hood, and how breaking RSA (integer factorization) and ECDSA (discrete logarithm) are just special cases of a more general principle.

Of course, the quantum computer to implement this will not be built for at least another decade, so we can relax for the time being…

I think you're mixing up Shor's with Grover's.

https://en.wikipedia.org/wiki/Elliptic-curve_cryptography#Quantum_computing_attacks

Thanks for all your input.

After thinking about it, I've decided to let my outputs rest in peace for the time being. At the same time, I'll try to avoid creating new outputs below 0.1 BTC.

In the meantime, either the fees will fall, or bitcoin will have a mass adoption problem anyway.

I have the private keys to several outputs in the 0.01 — 0.1 BTC range. This kind of amount is quickly approaching dust level (https://bitcoinfees.earn.com/ currently recommends ~0.001 BTC for a standard transaction). Suppose I'm not at all in a hurry, what is the best strategy to avoid the outputs to become effectively unspendable in the future?

• Combine them all in a single output?
  
  • Since I'm not in a hurry, I could use a very small transaction fee, say one that gives the transaction a ~10 % chance of getting mined. If it doesn't get through, I can simply resend it.
  • I read somewhere that transactions stay in the mempool for 72 hours. Is that correct?
• Do nothing and just wait?
  
  • The lightning network should make sending bitcoins cheaper. But that per se doesn't help in this case as the small outputs are still there at a fundamental level.
  • However, if the lightning network reduces the number of actual bitcoin transactions, they should become cheaper.
  • The transaction costs may not go up much higher because only holders of larger assets would be willing to pay the fees, leading to an equilibrium.
• Something else?

Maybe it's because of your Newbie status?

Devs, that's not how this works. It must be possible to send POW to FB friends even if they haven't joined yet. Otherwise you can just bury this project. Most people are just too inert and know shit about crypto. You won't get enough momentum this way.

Now I know that Facebook doesn't let you post on random people's timelines, so I guess this is how it should work:

• You got the list of my FB friends when I signed up. So you create accounts "in spe" for them. Initial balance is zero. They get their free share only when they actively sign up.
• I can send POW to my FB friends. The POW get credited to their accounts "in spe". I get a share link which I can use to post on my timeline with my FB friend tagged.

That way they know that somebody gave them something called POW, which should make them more curious to sign up than something I posted on my timeline a week (i. e., ages) ago.

Being able to send POW lite to your FB friends, especially the ones who haven't signed up with POW yet, will be instrumental for the success of this new token. The next step would be to include merchants and/or FB accounts of recognised organisations. All of this ideally before the bridge is opened.

I would count it as a success if the value of the token does not fall below 1 % of its currently purported value after opening the bridge. And even that would be a small miracle.

I wish you success, devs, but two months will be over very quickly.

Hey! I opened my newbie mouth way before tothemoon. Where is my lecture from esteemed full member Zabivelli?

Srsly though people, there's plenty of other opportunities to sell our FB data on the 0.01 % chance we hit a genuine winner. Just relax. BTW, this isn't rocket science. If POWToken turns out to be a dud, anyone can take up the idea and try for real.

And didn't you get your fair chance? You pressed F5, but some random internet router in between decided to drop your packets due to congestion whereas others got their request through. So it goes. And if they erased it all and did it again, why should it be different?

I may be naïve, but here is how I imagine what happened (and no, me lazy-ass didn't even read the whitepaper): a bunch of pimple-faced teenagers have this idea of a decentralised instapayment system because everyone uses PayPal only because PayPal sucks less than everything else (fees and rules and shit). So they have one choice:

• Go to the next VC firm, have them enter on 30 % of projected potential, pump them up, exit, bang, everybody's happy (except PayPal). Unfortunately, they are teenagers from Los Alamitos instead of Caltech top honours graduates, and they don't even have a PR person in their team, so that's a non-option.
• To form a usr base, give the shit out for free. Somehow. Anyhow. Hey, there's Facebook. Nice user base. Does that work? Hey, it just might. No way knowing without trying.

So they cough up the $200 or whatever to rent a GoDaddy dedicated server for a month, test the setup a little, and make an airdrop (remember, that means getting shit for free). Hither goeth nothing. Big bang. Lots of wailing. Uh-oh, better had hired that arts class dudette for some more advanced PR. But oh well.

Instead of wailing, we should be waiting. Chances are that the devs are, in the end, a bunch of losers, and it was all for nothing. Of course, there's that tiny chance that what we've got here is the next PayPal. The devs hold 12 % of the token supply, so in this case they would get filthy rich. Deservedly. A bunch of other people would also get filthy rich (such as Mr/Ms 10bn). Undeservedly. Oh well, such is life.

tl;dr: there is a 99.99 % chance it's all for nothing, and a repeated air drop would IMO not change that. So let's all relax now and check out the next new coin that comes along…