Latest posts of: effectsToCause

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281

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [PRE-ANN][VRM] Verium PoWT Reserve | ICO accepting only VRC July 20th 2016

on: July 10, 2016, 11:52:11 AM

Another really powerful thing is by not requiring Verium be a very fast currency we are testing the block confirmations and maturity. We can raise these above current standards required for quick currencies and make the double spend risk with 51% of computational power very unlikely. We can make it so that you have to get so many blocks in a row to double spend that effectively you would need significantly more than 51% of the hash rate to double spend. This may end up making Verium the most secure PoW protocol based on the probability to effectively double spend. Assuming of course it gains a strong network hashrate.

282

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [PRE-ANN][VRM] Verium PoWT Reserve | ICO accepting only VRC July 20th 2016

on: July 09, 2016, 01:08:36 PM

Quote from: Mattei on July 09, 2016, 04:44:04 AM Hi, if someone can clarify. Read about in wallet transfer from vrc-vrm and back. So if I spent my 6000 vrc for 1000 vrm on day 1 can I trade back to 10000 vrc in wallet after ico ends? Also, does anybody know what time zone and time the ico starts? Thanks. The market determines the price of VRM and corresponding VRM/VRC ratio after the ICO ends, so it is a risk assessment for whether the market will hold on average approximately the value ratio of the total supply ratio. The in wallet swap will be activated once the VRM/VRC and/or VRM/BTC markets open on exchanges.

283

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 08, 2016, 04:06:36 PM

Quote from: Lowryda23 on July 08, 2016, 03:57:12 PM Quote from: souljah1h on July 08, 2016, 01:27:25 PM In case you missed the PoST whitepaper read it here. https://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf Hey there , ok i read now the whitepaper but 1 question ... in Poloniex i can buy and sell how much VRC i like without waiting .. Why i cant do that with bter.com ?? I'm not very familiar with bter.com's practices, mostly because they have very little VRC volume. You should contact them about your issues with their service and refer to this exchange list for what exchanges actually have decent trade volume, otherwise very few if any trades actually take place. http://coinmarketcap.com/currencies/vericoin/#markets

284

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 08, 2016, 02:52:36 PM

Quote from: BTC_Grinch on July 08, 2016, 05:33:44 AM When is the Verium wallet downloadable? And do you need to update the vericoin wallet the 20th to do the swap? The Verium wallet will be released after the ICO, the exact date is not yet determined but not long after after ICO ends. To partake in ICO you need the current VeriCoin wallet available now at http://www.vericoin.info/ to generate a Verium public and private key pair for import into the released Verium wallet. There will be a walk through on those steps as we get closer to ICO but you can export and generate this key pair very easily in the current wallet 1.6.5 via the file menu export private key option. Verium and VeriCoin keys are the same format.

285

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 07, 2016, 03:27:57 PM

Quote from: iTradeChips on July 07, 2016, 06:20:31 AM Quote from: amesterdamer on July 07, 2016, 12:59:05 AM Quote from: iTradeChips on July 07, 2016, 12:55:26 AM hi i just learned about this coin recently. i dont feel like doing a lot of backreading for now. so what is verium in a nutshell? is it a separate coin? thanks Nutshell: https://bitcointalk.org/index.php?topic=1540023 and https://www.vericoinforums.com/threads/explaining-verium-information.1331/ Yes. 2 Coins - VeriCoin (Digital Currency) - PoST - Verium (Digital Reserve) - PoWT Both protocols will work along each other and read the nutshell thanks. will have to read up a bit. btw, i have added VeriCoin and Verium to my PoS coins poll and info thread here : https://bitcointalk.org/index.php?topic=1454009.0 you guys can vote for up to 5 coins. thanks Thanks appreciate that. Though VeriCoin is PoS but Verium will be PoW. Thanks.

286

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [PRE-ANN][VRM] Verium PoWT Reserve | ICO accepting only VRC July 20th 2016

on: July 07, 2016, 03:16:35 PM

Quote from: pallas on July 07, 2016, 02:13:50 PM Is there any info on the pow algo? how does POWT work? A quick overview of what we are developing: We are currently beta testing the algo. It will likely be what we are calling 'scrypt-hard', which requires too much memory to make an affordable asic currently, and just gives 100% hardware errors on the GPUs we've tested so far (eg. R9 280x) due to memory requirements. In addition we are exploiting the latency of data transfer between the CPU and GPU, and differing memory speeds and sizes of the two processor infrastructures to make GPU mining too costly. The exact final memory requirement specs will be released with a write up on the protocol once the testing is complete. However that is not the only significant improvement to PoW, it is the variable blocktime as well. The blocktime will start out around 5 minutes when the network is weaker, then dependent on difficulty, the blocktime will slowly decrease or increase in the case of a lower difficutly. Additionally as the blocktime decreases so will the rewards, so this will incentivize a balance between mining efficiency and security with rewards and blocktime moving relative to one another. The exact reward scheme is still being fleshed out, but in the final implementation it will be a continuous function that approximately enforces a reward halving per minute decrease in blocktime. So as an example, mining rewards will likely start at around 5 VRM per minute between blocks at a 5 minute blocktime and then go to 2.5 VRM per minute between blocks at 4 minutes. If the block targets perfectly that would be 55=25 total VRM reward at 5 minutes, and a 2.54=10 VRM total VRM reward at 4 minutes. If the blocktime comes in less than than the target, the reward is reduced and so is the mining profitability, this enables an additional feedback for the system to incentivize a both safe and efficient blocktime for an appropriate hashing power and corresponding electricity consumption. If for instance the value of VRM is higher it will be more profitable to mine faster blocks and the computational power increase will be required for that. This all will be clearly elucidated in a white paper once the parameters are finalized.

287

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [PRE-ANN][VRM] Verium PoWT Reserve | ICO accepting only VRC July 20th 2016

on: July 07, 2016, 02:04:10 PM

Quote from: souljah1h on July 07, 2016, 12:15:36 PM Quote from: barnes13 on July 07, 2016, 10:23:37 AM looking at the vrc price about 12k sat and 1day 6vrc/vrm so 1vrm 72k sat for 1day , did you think its not to high price, sorry if i wrong but good luck for vrm team and the ICOs Supply is very small, about 2.7 million. 72k sat for a coin with a supply of 2.7 million is cheap imo. 350000 VRM is the initial partial supply distribution. The rest will be mined using your processor (CPU). There is a two phases of ICO both with 350,000 VRM available up to ~25% of total eventual supply. So maximum amount of supply at end of ICO is 700,000 VRM

288

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 06, 2016, 01:28:24 AM

Quote from: pnosker on July 06, 2016, 01:17:07 AM Quote from: Radent on July 05, 2016, 10:24:23 PM hi Dev.. how to import privkey from paper wallet? I have tried to import privkey by downloading the first bootstrap, but failed to import privkey. Then I tried to reinstall win 1.6.5_32bit wallet after I delete data roaming, but it still fails. is there any other solution? thanks https://drive.google.com/file/d/0B2zvPOQn-xWsNWZtcmsyQ0ZWWk0/view?usp=sharing You need to lock the wallet first and unlock again then import. Lock using wallet lock Then unlock using walletpassphrase. Actually if your on 1.6.5 you can just use the import private key menu option in the file menu. Then paste in your key.

289

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 05, 2016, 06:38:27 PM

Quote from: BitcoinPorn on July 05, 2016, 06:18:48 PM Quote from: souljah1h on July 05, 2016, 02:13:41 PM Basically: Be in the top 250 list of VRC Addresses: https://chainz.cryptoid.info/vrc/#!rich If you are like me and had questions regarding this portion of the rewards given out, please head to this thread https://www.vericoinforums.com/threads/rewarding-the-top-250.1329/ I am definitely leaning toward the side of shenanigans at the moment for inability to fairly distrubute that top 250 list, as I know that isn't one person who owns all 250, but there is definitely not a current system worked out that is showing that 250 people would be getting rewarded instead of 250 addresses' This is a problem with this promotion idea and good reason to vote against it in my view. We will hold more votes on promotions like this and other fund usage details soon.

290

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 05, 2016, 03:38:21 PM

Added VRM ANN for easier information finding for new people: https://bitcointalk.org/index.php?topic=1540023.0

291

Alternate cryptocurrencies / Announcements (Altcoins) / [ANN][VRM] Verium PoWT | CPU mining | scrypt² | Scaling | New Roadmap Released

on: July 05, 2016, 03:29:17 PM

New Binary-Chain ANN is primary for VeriCoin and Verium now: https://bitcointalk.org/index.php?topic=2385158 --------------------------------------------------------------------- Co-Creator Douglas Pike (effectsToCause) Explaining the benefits of the Binary-Chain technology: --------------------------------------------------------------------- Development Roadmap V1: 开发路线图 V1 Hoja de Ruta Desarrollo V1 Roadmap di sviluppo V1 --------------------------------------------------------------------- Get wallets and link to source on official site Join our new slack channel! Verium VeriCoin Swap fund distribution (result of community vote): -50% Stake endowment fund: Coins will never be spent, just interest from staking used in-perpetuity for infrastructure costs -20% Development (One new dev on board so far adding communication/app layer to chain) -20% Marketing and Design (Blue Lynx Marketing hired for Marketing Overhaul e.g. New website and more to come) -10% Third party partnerships (partnership to create social media app underway) Variable block time: * It automatically addresses the scalability issue BTC has. * It increases blockchain performance with security. * It softens the difficulty mechanism without loss of security, so that mining power can grow more efficiently and organically. * Rewards in minutes per mining between blocks enables more profitability of mining that is dependent on power and time burning electric. * A decreasing reward as the blockchain speeds, incentivizes a balance of efficiency and power, while reducing new supply based on demand. * ASIC and GPU inefficient and resistant due to memory latency. So as a standalone PoW it will be one of the best and most innovative approaches to PoW. Benefits to VeriCoin: -High fees of Verium enable secure mining in PoW -Low fees enable a valuable currency, this is possible in PoS because it's nearly costless to stake -As Verium blocktime increases auxillary mining of VRC blocks will speed VeriCoin transaction times up to 20 seconds and possibly faster while further decentralizing the consensus across two chains So in short you get more security, faster transaction times and lower fees in VeriCoin the currency through Verium the reserve commodity. This makes VeriCoin a more valuable currency. Pools: Poolinat0r (larger miners >= 1kh/m) Admin: @Testbug on slack Poolinat0r2(smaller miners < 1kh/m)Admin: @Testbug on slack Blockster (vardiff ports) Admin: @Seion on slack Pool Sloth (vardiff ports) Admin: @Senicar on slack VRM Mining-Pool (vardiff ports) Admin: @Mderasse on slack Poolium (vardiff ports) Admin: @Trinitrotoluene on slack Verium Blackjack: ANN Site VeriumReserve Lottery: Site Swap (VRM/VRC): Livecoin Exchange (VRM/BTC): Bittrex Cryptotopia Livecoin Specifications: Proof of Work-Time: Difficulty dependent blocktime (Max ~6.2 minutes, minimum 15 seconds) Rewards: Blocktime dependent rewards (~Reward halving every minute decrease in blocktime till 10x VRC supply parity, then variable ~3% disinflation) Algo: scrypt² (N of 1024² or 128MB per thread) Block 1: 564,705 VRM minted for ICO participants who purchased VRM using VRC Minimum Transaction Fee: 0.2 VRM (High commodity transaction fee paid to miners) RPC Port: 33987, P2Port: 36988 Confirmations: 30, Maturity: 100 btc12.com QQ Group: 108972650 More details: https://www.vericoinforums.com/threads/explaining-verium-information.1331/ --------------------------------------------------------------------- Home: http://www.vericoin.info/ \|\| VRC Bitcointalk Forum: https://bitcointalk.org/index.php?topic=602041.0 \|\| Official Forum: http://vericoinforums.com/ ---------------------------------------------------------------------

292

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 05, 2016, 03:12:23 PM

Verium ICO fund distribution (result of community vote): -50% Stake endowment fund: Coins will never be moved, just interest from staking used in-perpetuity for infrastructure costs -20% Development -20% Marketing and Design -10% Third party partnerships

293

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 04, 2016, 06:39:28 PM

Quote from: SwedishGirl on July 04, 2016, 03:28:47 PM Quote from: warr1979 on July 03, 2016, 02:24:49 AM Quote from: a fool and his money ... on July 03, 2016, 01:32:15 AM hey guys. tl,dr I'm holding some vrc bags. Can you give me a very short summary why i would want to exchange my vrc to verium? thanks 10x less supply. It's a commodity like gold. So its like having some good and cash on hand. His question was still not answered. I understand how the whole thing benefits VRC in a lot of ways, but I still cannot understand why people who have VRC will want to exchange it to VRM? It seams like this was not really thought out very well? I understand the ICO discount etc. etc. but what gives value to VRM in the long run? The way I see it, it will always be viewed as VRCs ugly fat little brother and will start to loose value as soon as the initial hype is over. I also understand you will try to keep it 1:10 ratio but this does not mean that the market price will be proportional. This reminds me of the emperor's new clothes where we all pretend that Verium is so cool until somebody actually starts asking questions. Verium in addition to its benefits to VeriCoin will be a powerful, innovative and efficient PoW too. -ASIC and GPU resistant due to memory hardness. The variable block time paradigm does a number of great things: -It increases blockchain performance with security. -It automatically addresses the scalability issue BTC has. -It softens the difficulty mechanism without loss of security, so that mining power can grow more efficiently and organically. -Rewards in minutes per mining between blocks enables more profitability of mining that is dependent on power and time burning electric. -A decreasing reward as the blockchain speeds, incentivizes a balance of efficiency and power, while maintaining security with a corresponding block time. So as a standalone PoW it will be one of the best and most innovative approaches to PoW.

294

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 02, 2016, 03:55:38 PM

Good news, so far only getting 100% hardware errors on 280x due to lack of memory on system and card for Verium hashing. CPU hashing is by far most efficient in testing so far.

295

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 01, 2016, 05:31:08 PM

ICO starts July 20th 2016

296

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: July 01, 2016, 04:13:20 PM

VeriCoin wallet 1.6.5 is released. Go to check for update in help menu or go to www.vericoin.info to download it. This is an optimization update which uses on average 4X less CPU power, optimizes syncing speed and makes the wallet more responsive and efficent overall. It also allows private key export from the user interface for the Verium ICO.

297

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: June 30, 2016, 09:35:48 PM

Quote from: verb on June 30, 2016, 08:54:19 PM voted on both polls any updates on ico date and investment procedure? The ICO will be via a web interface that will present you with a VRC send to address for the ICO investment, and then you will submit a Verium address to receive Verium at after launch. You will generate the Verium address in the upcoming VeriCoin wallet release 1.6.5. The start date of ICO will be released soon.

298

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: June 30, 2016, 05:02:17 PM

second poll is posted: https://www.vericoinforums.com/threads/ico-poll-for-remaining-50.1327/

299

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: June 28, 2016, 10:32:46 PM

First ICO vote up! Have to be a member of vericoin forums with a minimum number of posts to vote : https://www.vericoinforums.com/threads/first-verium-ico-poll.1325/

300

Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][VRC] VeriCoin PoST Currency | [PRE-ANN][VRM] Verium PoWT Reserve

on: June 27, 2016, 10:42:20 AM

Quote from: Xosihc on June 27, 2016, 07:27:43 AM Quote from: effectsToCause on June 23, 2016, 06:49:21 PM Quote from: pnosker on June 23, 2016, 06:37:03 PM We have created a stake-only endowment: VFEndownxxnHea9mv59kZx8c7TysGbndYx All funds donated to this will be staked perpetually. Only staked interest will be used to fund any VeriFund project. Feel free to send any donations in and get this baby going! The donated funds will never be sold/traded/given away/used for projects. Only interest from it will be. All ICO funds usage will be voted on by the community, details of voting procedure to come later, but we would like to have 50% of the VeriCoin raised in the ICO to be sent to this endowment and staked perpetually. If you also like this idea be sure to vote for it. I am all for the idea of having 50% of Verium ICO funds to go to this endowment. How does one go about voting for this? (perhaps this is my verbal vote for it). Second, I would say I'm not as big of a fan of rewarding long time Vericoin holders or top 250 wallets with Verium. To me it just seems like it's a 'rich get richer' plot. I understand the idea is to rewards those who have stuck things out good & bad but in my opinion this only hurts those on the outside (who we want to get interested again). Otherwise I'm very excited for everything going on here. I hope you can release more information (like ICO date) sooner than later and I would also highly suggest having a clear plan before the ICO on what the funds will go towards. It seems in what I've read there is this "we'll figure it out after we get the money" mindset and to me - I'd feel a lot more comfortable investing larger sums of money if I know what the game plan is prior to investing. Just my 2 cents on everything going on - keep up the good work! Definitely should get vote done before ICO so people can know what their investment is doing. We should start voting soon. I'll discuss with the team about setting up the voting.

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