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141  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - Mandatory Update Now! No Pre-mine! 6 Exchanges on: February 11, 2014, 07:11:15 PM
alright guys. we need to get this coin rolling. If you're holding big bag of coins. Do something to spread the wealth. there are two giveaways happening right now. we need more brainstorming

This coin needs to be distributed fairly around

action>brainstorming
142  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - Mandatory Update Now! No Pre-mine! 6 Exchanges on: February 11, 2014, 06:07:01 PM
then there's this http://www.coindesk.com/massive-concerted-attack-launched-bitcoin-exchanges/

BTC exchanges may be experiencing some problems now. (so they may be busy with that) But mintpal isn't on many radars, because it is new and small
143  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - Mandatory Update Now! No Pre-mine! 6 Exchanges on: February 11, 2014, 06:04:42 PM
on the page https://www.mintpal.com/withdrawals  there is no record on withdrawing BTC

on the page https://www.mintpal.com/balances   it showed that my BTC is at pending status

I don't receive email confirmation and the support ticket has not been answered yet.

now I understand.. on the withdraw BTC page you'll see the notice that says, "Due to the recent BTC Withdraw issues, all BTC withdraw requests are currently being manually processed.

So they will have to process the withdrawl manually.

Like I said I did this a couple of hours ago and from that page to my other account took less than 30 minutes. (manual withdrawl took about 10-15 minutes). but of course the time may vary if they're busy doing something else. Just check your balances page to see if it's been sent out yet.

144  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - Mandatory Update Now! No Pre-mine! 6 Exchanges on: February 11, 2014, 05:29:10 PM
I can't receive the email confirmation of BTC withdrawal from Mintpal so it is still at pending status.

Do you have the same problem with mintpal?

for me, it took about 10 minutes for it to be processed manually. (the email confirmation was instant)
is it ok now?

I did not receive email confirmation so I sent the support a ticket. Got no reply in 2 hours and am still waiting.

I just used it for the same thing less than 2 hours ago. No problem and BTC was confirmed rather quickly in my receiving account.

do you see it here: https://www.mintpal.com/withdrawals?
145  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 05:23:57 PM
This is a very early thought/concept: is it possible to setup "exchanges" connected to every Vtc pool? So, the pool will have a bunch of Vtcs sitting in reserves that everyone can see (avoiding mt gox transparency problems).

Miners can elect the percentage they wish to keep and the percentage they wish to make available on the exchange and what crypto they are willing to accept. The percentage made available would be sold by the pool and then paid to the miner in the crypto of their choice.

Over time, miners can also add bank details to accept dollars via the pool/exchange mechanism, to sell Vtc for fiat.

Just an idea. Feel free to point out obvious problems with this setup.  Smiley

That is a VERY good idea. I like it a lot. But how could we make it secure?

This is something that needs to be coded right away. In light of the Mt Gox scandal, we can de-centralize exchanges and re-establish the public's trust.

Bitcoin holders would trade their BTC for VTC in droves. (That will be good for 3 weeks until a new decentralized exchange comes out for the new kid on the block.. no fun intended)
With regards to Lloydie's suggestions, I think multipool.us already offers something approximating this arrangement - you mine, choosing what coin, then later you can convert it into BTC.

However, it's a massive leap to go from running a pool like this, to running an exchange for fiat. Any time you interact with fiat, by nature, you're playing it by their rules, and that means regulations and paperwork - most pools (especially the smaller ones of which Vertcoin has correctly encouraged a plurality so far) won't be interested in taking on, or capable of handling, the hassles associated. "Decentralizing exchange to fiat" is much easier said than done; you can't code your way out of this, because what's stopping it isn't a computer problem, it's a regulatory one.

I think we were just talking about an exchange like most others, but decentralized. (The VTC for fiat would come later, if at all)

We can start out with VTC/BTC and go from there
146  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - Mandatory Update Now! No Pre-mine! 6 Exchanges on: February 11, 2014, 05:19:01 PM
Are we looking to make this coin as popular as Dogecoin?

What's the plan? I'm all about action.
147  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - Mandatory Update Now! No Pre-mine! 6 Exchanges on: February 11, 2014, 05:15:23 PM
I can't receive the email confirmation of BTC withdrawal from Mintpal so it is still at pending status.

Do you have the same problem with mintpal?

for me, it took about 10 minutes for it to be processed manually. (the email confirmation was instant)
is it ok now?
148  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 08:36:22 AM
HERE IS MY ADDRESS I HAVE WITHDRAW VTC BUT AFTER 24 HOURS STILL I HAVE NOT RECEIVED MY MONEY.
VjtQDVtFwFZCNQfEPp6s9zcjvU54LLyhpQ   

More detail is needed
149  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 05:34:03 AM
This is a very early thought/concept: is it possible to setup "exchanges" connected to every Vtc pool? So, the pool will have a bunch of Vtcs sitting in reserves that everyone can see (avoiding mt gox transparency problems).

Miners can elect the percentage they wish to keep and the percentage they wish to make available on the exchange and what crypto they are willing to accept. The percentage made available would be sold by the pool and then paid to the miner in the crypto of their choice.

Over time, miners can also add bank details to accept dollars via the pool/exchange mechanism, to sell Vtc for fiat.

Just an idea. Feel free to point out obvious problems with this setup.  Smiley

That is a VERY good idea. I like it a lot. But how could we make it secure?

This is something that needs to be coded right away. In light of the Mt Gox scandal, we can de-centralize exchanges and re-establish the public's trust.


Re: security.  I think something like localbitcoins could work at the pool level for reputation and number of trades.  The pool would hold the coins and act as mediator at the same time. It can decide to pay the miner or the buyer but not itself.

yeah, I wouldn't trust any pool. It has to be transparent and unbiased and with no financial interest in the coin itself other than as a medium for exchange. The coins would have to be held by this system, just like you suggested.
150  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 05:31:27 AM
Having a VTC/USD exchange would be the best thing to do IMO. It will allow the public to buy VTC without first buying BTC, thus removing the fear/distrust of BTC in the process. It'll also allow people like me who are not mining fast enough to get more VTC easily Smiley.

I've happily engaged people on mining, some of them get it and some don't, never hurts to try Smiley. I don't think it makes sense to explain cryptocurrency to anyone without talking about mining. Where do the coins come from then? I've frequently used the concept of actual (gold/silver) mining to explain it and get a eureka moment.

The metaphor of gold mining is exactly what I use to describe it! It need not be exact, just "close enough" so that people get the general idea.

mining the currency using a desktop computer or more powerful computer = mining for gold using a pick axe or a big drilling rig
Increasing difficulty = going deeper into the mine
Pools = teams of miners
limited number of coins = the mine only goes so deep
trading with others = taking the gold out of the mine and exchanging it with someone else
etc

When they say that the digital coins have no inherent value, I tell them that neither does gold. People value it because others do (or it is somehow useful), so therefore it becomes valuable.

There was once a time when striking oil on your land made your land much less valuable. It was a curse. Simply because others did not value oil.
151  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 05:20:59 AM
This is a very early thought/concept: is it possible to setup "exchanges" connected to every Vtc pool? So, the pool will have a bunch of Vtcs sitting in reserves that everyone can see (avoiding mt gox transparency problems).

Miners can elect the percentage they wish to keep and the percentage they wish to make available on the exchange and what crypto they are willing to accept. The percentage made available would be sold by the pool and then paid to the miner in the crypto of their choice.

Over time, miners can also add bank details to accept dollars via the pool/exchange mechanism, to sell Vtc for fiat.

Just an idea. Feel free to point out obvious problems with this setup.  Smiley

That is a VERY good idea. I like it a lot. But how could we make it secure?

This is something that needs to be coded right away. In light of the Mt Gox scandal, we can de-centralize exchanges and re-establish the public's trust.

Bitcoin holders would trade their BTC for VTC in droves. (That will be good for 3 weeks until a new decentralized exchange comes out for the new kid on the block.. no fun intended)

I think Vertcoin should be all about safety and security (in Maslow's chart). Although I have not done a scientific poll, my talks with people as to why they would not use Bitcoin has everything to do with security of their money.

Apologies if I'm pointing out something obvious:  One of the key strengths of Vertcoin compared to Btc, Ltc and Doge, in my view, is the decentralised pools in Vtc.  It would be good to use this natural competitive advantage to decentralise exchanges somehow.  It would really cement Vtc's position as a coin for ordinary people, where people trade with people and not big businesses (like ASIC companies and big exchanges).


Colored coins should allow this, but that's is 1-2+ years away. Vertcoin could be at a significant advantage by allowing (more or less) direct P2P altcurrency exchange NOW.

This is a wonderful idea. But ideas are a dime a dozen. 1) who is going to execute the idea; 2) when; 3) how. Once we figure out those 3 then we may have something. Other coins are reading this for sure, so if we are interested in doing something like this we have to be more organized and move quickly.
152  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 03:58:46 AM
You are spot on! At one point, credit cards were non existent & people got travellers cheques. Today our Canadian dollar bills are half plastic and the banks are informing clients that the Federal Government will be eliminating cheques by 2016. Times change. Expectations change. Cell phones now don't have buttons. Virtual payments will become the norm.

It'll just be a matter of how easy you can make it for people to put money in & use it. And of course feel safe that nobody will be taking it from them. Online banking is likely way less secure than they make it out to be yet people still believe in banks since they've been around 100 years. Silly but that's the way it is.

Why not do a messaging-like app for payments? (This is really just a mobile wallet, but makes it less intimidating for the average user by converting the payment address into a universal payment address, or UPA)

This is more or less how MPesa (in Kenya) works.

So instead of sending money to rjgvijrwgiwg9uf9frwerfwd for example, the user would send money to +16469218113

For this, we recruit agents that will sell scratch-off cards*. The user buys the card from the agent (the agent gets a small fee; this could also be an online operation) and puts it into the app to fill their account. The receiver simply installs the app to see their incoming payments, much like how Whatsapp shows you all your friends that have it installed.

I'll post this idea to the subreddit in case anyone is interested in talking about it.

*Alternatively, QR codes could be printed out from a computer. The user just buys the piece of paper, scans the code, and confirms the transaction with the agent.
153  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 03:10:01 AM
This is a very early thought/concept: is it possible to setup "exchanges" connected to every Vtc pool? So, the pool will have a bunch of Vtcs sitting in reserves that everyone can see (avoiding mt gox transparency problems).

Miners can elect the percentage they wish to keep and the percentage they wish to make available on the exchange and what crypto they are willing to accept. The percentage made available would be sold by the pool and then paid to the miner in the crypto of their choice.

Over time, miners can also add bank details to accept dollars via the pool/exchange mechanism, to sell Vtc for fiat.

Just an idea. Feel free to point out obvious problems with this setup.  Smiley

That is a VERY good idea. I like it a lot. But how could we make it secure?

This is something that needs to be coded right away. In light of the Mt Gox scandal, we can de-centralize exchanges and re-establish the public's trust.

Bitcoin holders would trade their BTC for VTC in droves. (That will be good for 3 weeks until a new decentralized exchange comes out for the new kid on the block.. no fun intended)

I think Vertcoin should be all about safety and security (in Maslow's chart). Although I have not done a scientific poll, my talks with people as to why they would not use Bitcoin has everything to do with security of their money.
154  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 03:00:09 AM
Tell me if I am wrong:

So far, the only people this coin can well benefit in the near future are the miners. In all other respects (especially as a payment method), is there any way to win the race against BTC and LTC or even gain market shares from them?
Now your counter argument might be: why should we win a race? We can build our own market.
To be honest, do you really think this works? Merchants will accept what is widely adopted. This is BTC. People will accept what is widely adopted. This is BTC. Let's call miners another group in this game. As soon as ASICS conquer the whole market, they will turn to mining VTC. What is happening now?
By thinking through this process, it becomes clear that this must be a reaaaal long term investment (long term in the cryptocurrency world).
You cannot really open successful parallel markets with another cryptocurrency, can you? What is required to put VTC in a really successful position is quite a lot of transition of the whole BTC market to let's say VTC.
Hard to imagine. It will take time to enter the really important industries like retailing and so on. They just got comfortable with BTC and now you enter the door and tell them that there is a better alternative... Wow. So, I think we are very much dependent on the mining advantage. And this will probably take quite some time to convince they many people it needs to make this coin really take off. Wrong?
I hope we get that zerocoin feature implemented as fast as possible.

The number of people that actually use Bitcoin is very negligible. It is estimated that there is less than 500,000 people around the world that use Bitcoin. (At least 40x more people watch the Big Bang Theory on TV than use Bitcoin around the world) An even smaller number of merchants use it. "They just got comfortable with BTC" is simply not the case when most don't even know what it is.

Put it this way.... nearly 100% of people and 100% of merchants do not use Bitcoin.

We are creating our own market, not stealing from Bitcoin's market share.

The question, then, is "How do we make Vertcoin attractive to merchants and consumers alike?"
155  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 02:52:42 AM
The answer is found on page one. People saw it as viable before they started mining it, correct? It was marketed to miners before mining.

And so now that we are mining we must market to the people who will be using it in future before they start using it.
It's one thing to say that, and entirely another to do so. Vertcoin currently has no non-speculative value. The people who might one day use it have no current interest in it, and won't unless the ASIC Armageddon kicks in. The people who might use it after that are so far away that talking about them makes no sense.

You can't sell average people on Vertcoin because the things that they're interested in don't collide with the things we're interested in.

Don't be so sure about that.

I, myself, am a potential future user of Vertcoin. I have never mined anything in my life. I just purchased it because I am interested in it. I am not too familiar with cryptocurrencies. My perspective is that of a user and someone who thinks it could be more useful in future. (I wouldn't consider it an investment, though.)

My girlfriend bought some, too, because I explained it to her in a way that makes sense to her. And so did a person I work with (who is a non-techie).

When we think, "The people who might use it after that are so far away that talking about them makes no sense." we are missing out on a lot of people that are potentially interested but intimidated by the kind of talk that they find on the website or forum.

Again... that's why Dogecoin has caught on and are one of your two biggest competitors (and in my opinion will surpass Bitcoin in less than a year). They make the complicated seem easy. We can be like Microsoft releasing Windows 3.1 instead of some company not understanding the real market and releasing OS-9 Level II.

If we do not make Vertcoin easy now then there will be other coins that do. This, at a time when more and more people are becoming interested in cryptocurrencies.
156  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 02:41:24 AM
Have you ever talked to random people outside of your circle about it? If anything people think crypto is a get-rich quick scam. I have even heard the term "pyramid scheme" from several highly educated people.
Yeah I agree with this. If you talk to normal people, you'll hear this a lot.
Here's an idea - go and give some VTC to a friend or relative the next opportunity you get. Don't try to convince them it's not a scam, don't tell them it's not a pyramid scheme if that's what they believe. Just say "I mined some of this, figured I'd give you a bit now while it's cheap - if it goes up a lot, it'll be a nice gift", leave it at that.
I'm going to do it the next opportunity I get.

The second word of "I mined some of this..." is where we will lose nearly 100% of the population.

Again, we are not approaching this from the perspective of someone who has no idea. And most people have no idea about cryptocurrency.
157  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 11, 2014, 02:37:07 AM

Marketing focus at this stage has to be directed to the alt coin community. Consider this your b2b. Btc has a head start on the mainstream, let them do the hard work. The next gen (us) will follow.

Glad you had a chuckle.

You did suggest we have a cartoon image.

The spartan image is a meme among vert holders.

Our current market is the alt coin community which recognizes the flaws in Btc, Ltc and the need for anonymity. Everything else will follow, and even then, the marketing has to be done in a competent, professional way. Im sorry, but you are not going to get Mr and Mrs Smith to consider cryptos with just astroboy. There has to be a proven and shown economic incentive for them to adopt it. Vtc will do this, because its the superior product in a new industry.

"Im sorry, but you are not going to get Mr and Mrs Smith to consider cryptos with just astroboy." - it appears that you are missing my point entirely.

Developing an emotional connection with everyday people (now) is essential. It need not be anything I suggested, but it should be something.
158  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 10, 2014, 08:34:58 PM
Not sure why you guys are arguing..

More of everything is good for Vertcion.  More marketing, more memes, more gimmicks, more development, more tech, more blogs, more word of mouth, more viral marketing.

More, more, more.. let's fire on all cylinders!

In the classical sense, as debate, yes. It is healthy, I think. No need to pretend we are in Disneyland. Vertcoin has lots of potential, and we can uncover it by doing just this.
159  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 10, 2014, 08:32:56 PM
Well, I suppose time will tell. I'm only speaking from experience at having built several multi-million dollar businesses from scratch and working at one of the Big 6 ad firms.

Whether the emotional connection is done with a catchy tune or good marketing or a mascot or whatever, it'll be quite integral to the long-term success of this coin.

I can only hope that we will populate our forums and meeting tables with the kinds of people that will ultimately use the product (not just technical people). Not doing so would be a big mistake.
I think the problem here is that you're trying to sell a product, and Vertcoin is a service. That kind of marketing can work for service brands ("For everything else there's Mastercard") but I really don't see how adding a cute mascot, at this stage, would help in any way. Jingles are for television adverts, "good marketing" is too vague to discuss. What exactly do you propose? Bear in mind you're trying to sell something that doesn't have intrinsic benefits for anyone other than the people mining it. I think Vertcoin's viability rests solely on adoption by miners, at least in these early days. You won't convince them to come with cute or sexy marketing; either they'll see the potential in the gains that the algo provides, or they won't. I'm taking a fairly long view here. Litecoin didn't start out valuable, it became valuable because the mining community adopted it in response to FPGAs/ASICs. The network conditions that kind of situation creates validate the currency, and I hope to see the same for Vertcoin.

That's my take, anyway. I welcome criticism.

The answer is found on page one. People saw it as viable before they started mining it, correct? It was marketed to miners before mining.

And so now that we are mining we must market to the people who will be using it in future before they start using it.

We can communicate intrinsic benefits before they exist or are used. That is what marketing is.

(Services are products. I do not mean things you can touch, like in retail or manufacturing. "In marketing, a product is anything that can be offered to a market that might satisfy a want or need" Anyway, that's just terminology.)
160  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs on: February 10, 2014, 08:20:21 PM
Your remarks are totally correct. The people decide, we don't. And if you take my statement a few minutes ago, by no later than the mid term, usability determines the value (and profitability for the miners). This is why you could print the biggest shit on the dollar today, people would of course keep using it. Nobody would hold too many DOGE if there weren't any ideas for its usability to be announced... The best way to make it successful would be to create demand for it. If you just put this into the market as another alternative, it is a roulette game at maximum for the Vertcoin to become successful. If you create demand by putting into a favourable position for purchases (faster, easier than other methodes), that will boost it.

I totally agree with your "The best way to make it successful would be to create demand for it. " statement.

I would add that the only way to create demand for it (unless we're doing B2B only) would be to allow consumers to develop an emotional relationship with the product.

Then the question becomes, how do allow people to connect emotionally with what we are doing?

The answer is neither strictly logical nor technical. It is emotional.

We must remember that people had trust issues with PayPal too because of their name. But now nobody cares. Businesses trusted both Google and Yahoo despite the looks of their websites. Whether or not a mascot is a bad idea is only an issue for our imagination until we have actual evidence that it is not. But right now the most successful altcoin has a mascot and smart companies follow and improve upon their competitors' offerings.

Its possible to create an emotional attachment without reverting to cartoonish gimmicks. You mentioned geicko before and i thought that was an unfair comparison. Geicko has been around for nearly 100 years. The gecko campaign has only been around the last ~5 years, long after it solidified itself as a market leader. This is the nature of business. Stand out as a serious contender, gain market share, then work on "hype" marketing.

In regards to Paypal/Google/Yahoo...I remember when they first came out. It wasn't "viral marketing" which drove them to the top, it was the quality of their services. The product spoke for itself. Marketing is needed and is a must, but it has to be based on facts, not gimmicks.

"Marketing is needed and is a must, but it has to be based on facts, not gimmicks. ".. I had to chuckle when I read this. It's all gimmicks unless you're sticking with b2b

would not the Spartan graphic be a cartoonish gimmick? (with a lot less-broad appeal, I might add)

I'm not suggesting we go with a cartoon image. What I am saying is that it is very important we create an identity that has an emotional connection with our market. (After defining who our market is, of course) This can be done in a variety of ways. But on the internet, it's through the visual.
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