bump

404 Not Found. Here's the real link.

(I think I spent way too much time on this, back to work....)

It should be noted that changing the average time between blocks from 10 minutes to 3 minutes does not change the overall amount of time one must wait to have a certain degree of certainty in that transaction being permanent.

It merely increases the granularity of that decision.

Saying that you are waiting for 6 confirmations is actually just a proxy for saying you're waiting for a certain percentage of the networks potential for work to be done.

Reducing the time to 3 minutes means for the same certainty you will need to wait for 20 confirmations.

I can see the advantage for people just waiting for 1 confirmation, but for everybody else this represents no improvement at all.

It means it's set to 0.01 SC in the client. For it to change the client has to be modified and a large number of nodes updated to run it.

^ Thank you

None of the claims on that page appear to be true.

1. Speed - You are claiming that SolidCoins are faster and more reliable than bitcoins. SolidCoin produces blocks faster that's all. The client is not more reliable as you are hacking stable code, this is likely to introduce security issues and has introduced many reliability issues. SolidCoin has faster transaction confirmation by virtue of each transaction confirmation meaning far less. You still have to wait the same time to have the same confidence that your transaction will not be reversed.

2. Security - Anyone who runs a decent sized BTC pool could subvert his hashing power to perform double spends on SolidCoin right now as the barrier to a 51% attack is far lower than bitcoin. This attack could also be carried out far faster due to the 3 minute block average. SolidCoin's faster block generation has introduced a far higher chance of the blockchain branching thus reverting transactions, SolidCoin has greatly reduced network reliability instead of improved it.

3. We make it easy - You don't even have a client that will run on Debian based Linux. The clients you have released are bitcoin code with minor changes that do nothing to make things easier, they are the same bitcoin clients with only small changes.

4. Fairer - You state that 2000 people possessed SolidCoins within the first 48 hours of the currency. You can't possibly know how many people hold SolidCoins as the nature of the network prevents this. You then claim a week later 10000 held SolidCoins. It appears you are just making up bit numbers as there is no feasible way you can know who has these coins.

5. A plan for the future - Attacking the bitcoin developers, developers who have released stable clients for all platforms seems low. You should be grateful as they did all the work for SolidCoin while you made minor hacks and changed the name. You claim the Bank of America might take over the bitcoin network! That's crazy FUD and I advise you to remove that statement before the Bank of America sue you for Libel.


None of the points made on that page are valid. SolidCoin is less stable, less reliable, and less secure than bitcoin. No new features were added and the changes that have been made have destabilized the code making it significantly less trustworthy.

Hi.

Made a twiter for Solidcoin: http://twitter.com/#!/Swapper_es/status/107429500182212608 (appeared also in my Facebook)

My wallet: sZyq5kk8c94NupGhdkFQNhoPuwxLvstdku

Thanks.

So, slight problem, using cgminer w/2x6870's.

After finding a block yesterday, I've had nothing but 100% rejection rate all day.

[2011-08-27 09:30:14] New block detected on network, waiting on fresh work
[2011-08-27 09:30:16] Rejected 348df813 GPU 0 thread 2
[2011-08-27 09:30:32] Rejected e31cc19b GPU 0 thread 0
[2011-08-27 09:31:35] New block detected on network, waiting on fresh work

So on, so forth, anyone have any idea what could be happening here?

I believe the origin of the Bank of America quote is from the betabeat article about Gavin's keynote at the conference:
They've actually changed that since they originally wrote the article. It was originally a stronger statement. Presumably Gavin corrected them. It was "He said he hopes that in five years, Bitcoin “will be boring.” As in, no calls from reporters, no hype and no drama. Just a niche currency with a robust community–possibly administered by Bank of America.".