Bitcoin Forum

Hey,

What are your views on vertcoins? do you think it will surpass litecoins? Is it a good investment?

I honestly think is going to be the new litecoin with the N-scrypt system. This new coin is going to avoid the big powerful machines and save the ones that use graphic cards.

I am personally minning Vertcoins with aan excellent production, when people realize that and price rises up, it is gonna be a nice business

vertcoin suffers from very high inflation.

There is only a few possible outcomes.

-they cut the inflation (sooner halving) but loose integrity with changing rules mid game but could salvage some value
-the group of people who believe in it keep supporting it as planned and even support it as long it's very close to worthless until in finally halves down
-the people who believe in it now just give up and it dies

i don't see any other option. Vertcoin is based on the false premise that high inflation and worthless coins would be good for adoption.

Maybe later it will remembered as an epic miners scam. Who knows?

On the other hand LTC suffers from pretty high inflation too. Surpassing Litecoin? I don't think so! For that to happen they would have needed to have more foresight in the economic/inflation part.

Hooray for a thread bump from May.

LOL. true

bump!  ;)

With the hardfork algo change coming up KnC's scam-miner wont be able to thrash the difficulty for long.

Being able to mine on off-the-shelf hardware without being scammed out of every penny you've got by crooked ASIC companies really gives Vertcoin a future IMO. That and it's actually got an innovative feature or two.

Not with inflation caused from those miners dumping into what little buy support remains.

miners never learn. They dump it to zero and then wonder what happened to their source of income.  ::)
How many miners give buysupport too? In vertcoin the investor is just the ATM of the miner. But if you are on the lower end of the foodchain you can only blame yourself because it is all there out in the open. Nothing is hidden so if you loose because you continue to buy VTC on the downward path it's ok because you can't handle money anyways and have likely poor math skills.

The problem is in the specs though. It's not the miners fault he's mining that many coins. That's the idea of the devs or who ever had that idea.
I would just recommend to stop buying it alltogether so it becomes worthless faster. Why drag it out so painfully? You could be on rock bottom already accumulating in the year long stagnation/accumulation phase that is shedueled, wanted and built in from day one in vert. You people seem not to understand how to interpret specs.

I would have loved to stock up on vert but my calculations have told me it is still too expensive. There is not enough interest in it to ensure that huge inflow of money that would be needed to hold the current prices. It'll become near worthless. No way around it. If the community does not give up on it i come by in a year or two and buy myself a huge bag for next to nothing. But not now. Can decline another 50% to 80% if no new cryptobubble saves your day.

Maybe gets a pump here and there but just to enable bagholders to exit or if it's a normal pump it'll bleed out very fast again. Think of Vert as a bleeding pig. Hope you get the gist. ;)

Do not hold vertcoin longterm

Well my ASIC manufacturer isn't refunding my money or sending the miner I paid for a year ago any time soon so a bleeding pig is better than no swine at all.

see? It's no coin for investors. It's  a coin for miners :)
There is no balance in that coin between those two groups.
The miner does nothing wrong here. Everything is very normal and no surprise at all.

I think it's unfortunate to have a longterm project planned with insane inflation. It's in fact so dumb i can't stop facepalming about the specs and the total absence of rewarddecrease.

You are spot on with your analysis of why POW for alts is generally a death wish for the coin. One reason Bitcoin worked so well in achieving its value is people mined the coins because they wanted to hold onto them for the speculative value. Now with every other alt coin, miners just mine it and dump it for pennies, how can a coin be viewed to have any intrinsic value if its fanboys who are mining it don't even want the coin when they find a block and sell it off immediately? Hell I think the value of many coins could be better if miners even held onto the coin just for 1-2 weeks longer, but no like you said they will immediately go to cryptsy and dump it for whatever they can get.

 "I gotta pay for electricity" is always the excuse, as if people who don't mine don't have bills to pay too. I wish I could break even on all my coin buys.

Not all pow - there is coins with low/sane infaltion too and if you look at longterm chart they are in fact doing better of course. And pos is the same drama if interest rates are too high. People tend to sell the interest from staking so it's the same in the market. That's also why high pos interest is going nowhere in the long run. Got nothing to do with algo. Got to do with dilution of existing coinsupply aka inflation. It's different for each coin. You can calculate a lot in the coins from the specs. In most cases the fate of the coin is predetermined in the specs and foreseeable.

You are right. The coin has no future if the miners don't hold it and believe in it too.
If you want a good investement find a coin the miners tend to hold. (protip: uno)

people buying coins have much more risk than the poor miners with their electricity bills. If you are buying a coin from  a miner it means you are the greater fool already in many cases.

Miners could also tend to trade more better to protect the own income instead of just dumping like mentally jaded. Just dump, dump, dump it all to the ground. Even if there is no sellresistance, don't even look for it. Just dump, dump, dump ... markets are there to dump them down. Turn autosell on and go  ::) (thinks the miner)

I think it's important for the people that use a coin to also be able to mine it if they wish with off-the-shelf hardware. Not many alt-coins are bullish right now.

isn't vertcoins already dead? i think vertcoins need to change and adopting to new algo to survive. n-script consumed to much heat and low hash, why not "fresh" algo. or something similar?

;D (are you a psychic of some kind ?)

btw: fresh is a joke....

http://vertcoin.org/wp/pow-algorithm-upgrade-lyra2/

I found this. https://password-hashing.net/submissions/specs/Lyra2-v1.pdf

bitcoin has insane inflation, please make many facepalming then ;)


"my plan is creating a platform and ecosystem for Vert. Instead of putting everything to Vert, I will create services and make Vert as a central core like the Sidechain concept that Bitcoin wants to have altcoin around, and Bitcoin as a core."

https://bitcointalk.org/index.php?topic=404364.msg9632734#msg9632734

Vertcoin inflation is too high. Currently, none of the altcoin has that much support to balance out the massive inflation.
The altcoin market is too saturated right now.

vertcoin is dead since the time it was born.

 ;D yes maybe someday it will not worth at all, but for now 1 VTC = 0.0001327757 BTC.
So maybe it will dies but not so fast , its more better than other shitycoins.

There are so many alts already and so many popping up everyday , looks like vertcoin cannot bear such pressure and its future doesn't appear to be that good and all of that future is currently relying on LYRA2 fork.

Two years ago Litecoin was also 0.06 $, and also had not much support to balance out the massive inflation...

No, it was briefly worth 0.0067 bitcoins.

http://s11.postimg.org/tsq5yr0pv/vertcoin.png

GPU mining died along time ago.

GPU mining rose with BTC then died to ASICs.

GPU mining rose from the ashes with LTC then died to ASICs.

VTC is mined with GPUs and will hard-fork the algorithm to stop these scam ASIC companies.

Is there anybody besides Friedcat, Spondoolies and Bitmain who's not pulling a scam or just making ASICs for themselves? There's so much money to be made but these fucking companies are going out of their way to scam people and drag down BTC instead.

These guys (i.e. BFL, BA, AMT, KnC, Hashfast, Cointerra, etc, etc, etc, ...) are getting their hooks in via mining hardware and VTC stops them cold.

and ASIC mining will die soon...


https://i.imgur.com/2xjpRIe.png