why is the 24 high at 28M when total coins is only 26M? i would like to know that too Yeah the stake is not directly coins. It's a coin weight that includes coinage (time since last earned interest for each coin). It's essentially normalized including coinage and is close to the total coins staking but a bit more complex. Nonetheless this is some historic staking for POS I suspect and is near the realistic maximum. Impressive show of community strength! Kudos to all you guys! Go VeriCoin! Hey Doug, at the end pf the day you are going to have to explain this a whole lot more clearly so EVERYONE can understand because right now, before the end of the day, this is starting to sound suspiciously, very suspiciously, like a whole lot of CRAP. How can a coin that has a max of less than 26 mill coins, all already mined during the POW stage, has now 28 million coins STAKING? This is preposterous. Everyone knows that there are A LOT of coins still NOT STAKING and lying on the exchanges (I know I have quite a few and they are not staking a single VRC), so how the heck can so many coins be staking? An understandable answer, without ANY bull shit, is required rather immediately, long before the end of the day, ok? Ok first off these aren't fake numbers (this is not a scam). Since the dawn of PoS network stake is a weight including coinage. The reason is for fair distribution of staking. If the number of coins is the only factor involved in determining the probability of a node solving a block then the small wallets would hardly ever stake. So this weight is actually the appropriate stake value for fair distribution of the stake. However it would be much more intuitive to monitor just the number of coins currently staked. This number is in the code but is not accessible in a function of its own without coinage, because the age determines which coins in a given wallet are actually staking. In the next wallet Update though I will add this pure total coin staking value as that would be more of an appropriate value to intuitively monitor. Nonetheless the weight is not going to be too much bigger than the total. What would you consider "too much bigger" Doug? We have had a high of over 28 million just in the past 24 hours and I believe it would be quite safe to assume that at least 6 or more million of the total 26.8 million are deposited currently in the different exchanges, quite probably significantly more than 6 million, so if the maximum REAL number was, for instance, 20 million coins -and I DO NOT believe that many have been staking, not even close-, and the weighted coin age network number surpassed 28 million, you would still think the number would not "be too much bigger"? And, by the way, you just contradicted Patrick -and the choir boys- making abundantly clear what is even more abundantly obvious: That you can indeed know THE EXACT number of coins staking at any given moment, the REAL number of coins. It would be quite nice if any, at least Patrick, would acknowledge it, don't you think? What Pat meant was it's not possible to pull out that number without editing code. In the current wallet it's not possible. By not too much I mean it's relatively attributable to the coin amount give or take some percentage for age. For instance in stake dips it's quite likely that the number drops below the potentially stakable coin due to young age. It would however be clearer to just have the raw number of coins to monitor as well. Well thank you Doug for finally getting my point AND doing something about it since, it is painfully obvious that the current numbers are, in fact, totally meaningless because, as I edited added to my previous post, the current given numbers could be in fact so staggeringly out of touch with the real ones that it could approximate or even surpass DOUBLE those real numbers. I am not a mathematician, obviously, but my common sense tells me bundles about the potential repercussions of such a huge number of fictitious coins staking at any given moment, but I'll patiently wait for that update in the wallet that allows everyone to actually know the real number of coins that VRC has for the 26.8 mill given by Patrick is obviously an approximation I don't know based on what... 30 (or more) million coins staking can produce a significant number of additional coins by the day. Oh and Patrick, I don't have to ask Sunny King anything. I ask you because I have invested in you... one of the reasons for it being that I was under the impression that the "dynamic" interest was actually an improvement in the POS distribution model of Sunny King, one that would allow everyone to know, at any moment, the EXACT amount of coins that were staking in the network and the exact amount of total coins in existence. Hopefully, the new iteration of the wallet will provide that sooner rather than later. I will (im)patiently wait... And yes I remember that post and given that I have a very good memory, most of all others. Feel indeed free to correct me if I stated in error the numerical order of your alma mater... I expected you to come with some sensible explanation as to what effect did you really wanted to have placing sell order with your 200k coins, really. That doesn't require a special level of intelligence, does it? If you sell, the pressure that you put is towards sending the price down; if you buy, the pressure goes on the other direction. Pretty simple, really. Even for anyone not having studied in an university ranked below 23rd or even community college and I would even say basic education at a very early level, so it would be nice to know exactly what it was that you were trying to achieve... correction, how were you trying to achieve that nobody but you "... would lose anything". For the record. Total coins that exist are not in question here just the difference between network stake weight value and total coins currently in stake. |
|
|
|
why is the 24 high at 28M when total coins is only 26M? i would like to know that too Yeah the stake is not directly coins. It's a coin weight that includes coinage (time since last earned interest for each coin). It's essentially normalized including coinage and is close to the total coins staking but a bit more complex. Nonetheless this is some historic staking for POS I suspect and is near the realistic maximum. Impressive show of community strength! Kudos to all you guys! Go VeriCoin! Hey Doug, at the end pf the day you are going to have to explain this a whole lot more clearly so EVERYONE can understand because right now, before the end of the day, this is starting to sound suspiciously, very suspiciously, like a whole lot of CRAP. How can a coin that has a max of less than 26 mill coins, all already mined during the POW stage, has now 28 million coins STAKING? This is preposterous. Everyone knows that there are A LOT of coins still NOT STAKING and lying on the exchanges (I know I have quite a few and they are not staking a single VRC), so how the heck can so many coins be staking? An understandable answer, without ANY bull shit, is required rather immediately, long before the end of the day, ok? Ok first off these aren't fake numbers (this is not a scam). Since the dawn of PoS network stake is a weight including coinage. The reason is for fair distribution of staking. If the number of coins is the only factor involved in determining the probability of a node solving a block then the small wallets would hardly ever stake. So this weight is actually the appropriate stake value for fair distribution of the stake. However it would be much more intuitive to monitor just the number of coins currently staked. This number is in the code but is not accessible in a function of its own without coinage, because the age determines which coins in a given wallet are actually staking. In the next wallet Update though I will add this pure total coin staking value as that would be more of an appropriate value to intuitively monitor. Nonetheless the weight is not going to be too much bigger than the total. What would you consider "too much bigger" Doug? We have had a high of over 28 million just in the past 24 hours and I believe it would be quite safe to assume that at least 6 or more million of the total 26.8 million are deposited currently in the different exchanges, quite probably significantly more than 6 million, so if the maximum REAL number was, for instance, 20 million coins -and I DO NOT believe that many have been staking, not even close-, and the weighted coin age network number surpassed 28 million, you would still think the number would not "be too much bigger"? And, by the way, you just contradicted Patrick -and the choir boys- making abundantly clear what is even more abundantly obvious: That you can indeed know THE EXACT number of coins staking at any given moment, the REAL number of coins. It would be quite nice if any, at least Patrick, would acknowledge it, don't you think? What Pat meant was it's not possible to pull out that number without editing code. In the current wallet it's not possible. By not too much I mean it's relatively attributable to the coin amount give or take some percentage for age. For instance in stake dips it's quite likely that the number drops below the potentially stakable coin due to young age. It would however be clearer to just have the raw number of coins to monitor as well. |
|
|
|
why is the 24 high at 28M when total coins is only 26M? i would like to know that too Yeah the stake is not directly coins. It's a coin weight that includes coinage (time since last earned interest for each coin). It's essentially normalized including coinage and is close to the total coins staking but a bit more complex. Nonetheless this is some historic staking for POS I suspect and is near the realistic maximum. Impressive show of community strength! Kudos to all you guys! Go VeriCoin! Hey Doug, at the end pf the day you are going to have to explain this a whole lot more clearly so EVERYONE can understand because right now, before the end of the day, this is starting to sound suspiciously, very suspiciously, like a whole lot of CRAP. How can a coin that has a max of less than 26 mill coins, all already mined during the POW stage, has now 28 million coins STAKING? This is preposterous. Everyone knows that there are A LOT of coins still NOT STAKING and lying on the exchanges (I know I have quite a few and they are not staking a single VRC), so how the heck can so many coins be staking? An understandable answer, without ANY bull shit, is required rather immediately, long before the end of the day, ok? Ok first off these aren't fake numbers (this is not a scam). Since the dawn of PoS network stake is a weight including coinage. The reason is for fair distribution of staking. If the number of coins is the only factor involved in determining the probability of a node solving a block then the small wallets would hardly ever stake. So this weight is actually the appropriate stake value for fair distribution of the stake. However it would be much more intuitive to monitor just the number of coins currently staked. This number is in the code but is not accessible in a function of its own without coinage, because the age determines which coins in a given wallet are actually staking. In the next wallet Update though I should be able to add this pure total coin staking value as that would be more of an appropriate value to intuitively monitor. Nonetheless the weight is not going to be too much bigger than the total. |
|
|
|
2. Interest is compounded continuously with consideration of the 8 hour "cooldown" period after a successful stake. Essentially, it's compounded at every ~8 hours or so, on average.
Hey, thanks for the quick reply! So from my understanding if one was to stake 24/7 the compounding period would be every 8 hours. So the difference between staking once a year vs. 24/7 would be as follows? Staking once a year: (FV) = 100,000*(1+0.0225) = 102,250 VRC Staking 24/7 (FV) = 100,000*(1+(0.0225/(365*3)))^(365*3))= 102,275.5 So you basically get an extra 0.02% of interest  Yes this on average would be correct. Also however if you have your wallet open 24/7 you would also earn the transaction fees for every stake block you get. So the transaction fees earned will be more numerous if open 24/7 as the coinage will be more continuous. |
|
|
|
why is the 24 high at 28M when total coins is only 26M? i would like to know that too Yeah the stake is not directly coins. It's a coin weight that includes coinage (time since last earned interest for each coin). It's essentially normalized including coinage and is close to the total coins staking but a bit more complex. Nonetheless this is some historic staking for POS I suspect and is near the realistic maximum. Impressive show of community strength! Kudos to all you guys! Go VeriCoin! |
|
|
|
So, I just thought I'd come in here to share my experience with Vericoin.
In short, I was new to crypto, bought in to VRC during the big pump at around 30k, as it looked like it had real promise as becoming a real currency.
During that time the devs were posting here nearly every day with updates, deadlines, road maps, the works.
Then the rollback happened.. I still believe that the devs made the best decision at the time and handled it well with the rollback etc. They did the best they could.
Since then though, they've been almost entirely absent. Very few posts, and the posts they have made have been vague at best. It really seems to me like they have given up on the coin and are just not wanting to go public with the fact as yet. Socal here has basically been the only person giving any updates at all on new developments, and even still they have been vague. So many things "nearly finished" for so long?? Where's the website? It's not hard to make a website like that. It should take maximum one day to completely rewrite the Vericoin website. iOS wallet? Yeah a but harder so I can understand it taking longer, but still it was "nearly done" weeks ago..
I honestly now believe that the devs have been stringing this out as long as they can while they unload their coins. Stringing along Socal in the process (or perhaps he is in on it and doing the same?).
If I was a betting man, and I am, I would bet that we will never see any more updates to VRC. The devs are done with it, they're gone. The only new stuff is coming from desperate bagholders trying to hold things together, and doing at least an ok job I'll admit.
One last question I have here which has puzzled me the whole time is this:
Why did pnosker transfer 200k VRC from his wallet to exchanges right after the rollback? Apparently this was to somehow protect the coin? But you would meet BTC on the exchanges to do that right? So why then? Where are the coins now? Have the devs released their wallet addresses recently to show they are still holding? Again, I'd bet that they have not.
Call it you favorite word "FUD", call it what you like. This has been my experience with Vericoin.
I wish you all the best of luck in your futures!
I fully understand your concerns as I share some as well. Just like you I am an investor and active member of the Vericoin community. Now some points that need to be made clear. I know there are tons of Alt coins out there and I make a point not to trash them, however I would exercise caution to some friends whom likewise have invested in various coins in the past few months, needless to say have lost a lot. Something clearly is wrong with the crypto market. We all want to succeed and back up a great projects yet to my disbelief most of these alt coins were just that fly by night projects. Dev here one day, gone the next. Hence my initial interest in Vericoin as this was the first time I saw active devs openly chatting and communicating with the public, via twitter, Google hang out and even show up in person at Shows. I reached out the Pat / Doug and worked with them on various projects, branding, website of Vericoin. It does not take 1 day to make a site, it is a process. You see what's wrong, you research, you design comps, you get feedback, you make changes, you get team involved, more tweaks, then code, then QA. etc. I personally met Pat / Doug and have worked with them, these guys are pros. They have wives/girlfriend they have lives and supporting family. From my initial impression they share one quality I love about creative people, they are passionate about what they do and I respect them for that. These guys are not going to pack up and leave as you put it. The Hack on Mintpal clearly was a major blow which affected not only the coin but so many upcoming projects as they had to shift gears to repair the damages as well as some other attack on their servers. Clearly there are those who wish this coin not to succeed. It is natural to worry about your investment as you should be, understand that with the amount of FUD that took place here past few weeks after the hack, I fully understand the concern. I did my best not to judge one initial investor who made tons of promises, promos, major parties, celebrities etc. I am not easily impressed, put up or shut up is my take. otherwise its BS. As far as upcoming projects: I am sure these guys are working on upcoming features, Doug has voiced his desire for Decentralized aspect of this coin, and some projects they won't reveal yet. For the past few days a few members have contributed in Major ways, promoting the coin on Radio, Bitcoin meet up groups, Launching supporting website, offering feedback/ ideas - This coin has a bright future, as a community we need to be patient, help and respect each other. No need for name calling, the last thing we need is to turn on each other. Thanks Shinraven for breaking this down so well, I appreciate it man. This guy is doing wonders for VeriCoin, all the wonderful designs for the website, the logo, the new UI coming. It's fantastic work, kudos to him. To address Monkeys concerns: Listen guys I understand that in crypto the knee jerk reaction is to claim scam/dump, this is NOT the case here and we would prefer you honestly ask yourself if we are those type of people. You would actually be shocked how many times we have to convince people this is not a scam, even after doing all the things Shinraven mentioned. Rule of thumb, if the devs are showing their face and names, they are generally not scammers/dumpers. If we wanted to have some big plot to dump or whatever we would have never revealed our names because we would know there would people after us essentially. It doesn't make any sense. I'm probably not going to say this again because we have already moved forward but to be clear. The hack screwed up our timelines. The rollback took a couple days, getting the network stable took a few more, combating the FUD and conspiracy theories took a few more and is ongoing. The supernodes were DDOSed multiple times, which isn't really that big of a problem, but it is when your network is new like it was post rollback. We are beyond all this now so it's all ok. However we did realize a few things: 1. ETA's usually cause more problems than they solve. The reason being, as you can see from the mintpal fiasco we cannot predict certain scenarios especially more extreme ones, and in crypto if you miss a deadline or the release is incomplete on the deadline, there is typically a dump. This is not because we didn't work but because we set deadlines that we were not able to meet for many reasons usually. Honestly there were multiple nights that I was up till 5am trying to meet a deadline, it's not a good approach. 2. So if you need a strict ETA for investment reasons you are not going to get it here. With the help of Socal and Scott Allyn we have devised a new system for being clear with everyone about where we are, but without setting ourselves up for something we cannot always predict. http://vericoinnews.info/vericoin-roadmap/3. See it from our eyes for a moment. We put blood and sweat into VeriCoin and nearly watched it get killed by some hacker. Thankfully they were not successful and we hacked the hacker essentially. It's also now not possible to hack that much coin. However aside from the draining aftermath we had to recover ourselves, physically and emotionally. In addition Pat's grandfather passed away, Dave moved into a new house and so on. You add all these things up and yeah our schedule fell behind and we have been less active in the forums, but that is nothing compared to everything else. 4. Now we are coming back and stronger than ever! Our network is stronger than it ever has been, 22 million staking today! Our community and coin persevered one of the most devastating attacks in crypto history! The community has rallied in a major price trough to build a news site devoted to VeriCoin, VRC Radio has a third DJ, the new website is out (big collaborative effort). All promised projects are very actively being developed in addition to totally new ones that move the ball forward even more! We need a strong community to build a strong currency and we have that! I say if you think you have what it takes, join us! |
|
|
|
Hey Guys, Check out our new dedicated timetable webpage for accurate updates on our progress. Thanks to Scott Allyn and Socal for devising a great platform for updates. http://vericoinnews.info/vericoin-roadmap/Also if you haven't seen it yet check out the rest of the news site by Scott Allyn, it's really good. http://vericoinnews.infoIf you missed it the new site is up www.vericoin.infoRegarding blockchain 2.0, we are taking our first practical step with 2.0 technologies by building in decentralized username support. Along with that will be a decentralized registration process and fully decentralized privacy/anon tech to preserve security and privacy of usernames. Writing whitepaper for this now. |
|
|
|
|
There is an ebb and flow to all markets, including the best coins. The cynics are vocal in the ebb and the optimists in the flow. The hack and aftermath set back our timelines, we are coming through on our promises soon.
|
|
|
|
Hey,
The Buy Vericoin option does not seem to work, just opens up a plain white window..
Any reason why?
Download the wallet again at the site. There is a temporary fix available at the regular Windows download till next update. |
|
|
|
Vericoin, The blockchain rollback that killed the coin! I like to be right guys. I see you guys have been in freefall mode for the last few weeks.
Not looking to good, but I can say we did not warn ya.
Good luck bagholders
And you think Cloakcoin will not fall eventually roflol? it is all very fragile and every other coin will try to fud you down, like you are trying to do. Accept it or leave crypto world. I think if the cloakcamp keeps coming through like champs then it will have a long life and make me very rich. People are fudding cloak because they dont understand it or are just worried about cloak knocking off the coin of the fudders choice. I'm not fuding, am I? Did vrc not rollback? Have you guys not been freefalling since then? Point made! Carry on! If cloak in your opinion is so great, why bob do you spend so much of your free time here? What are you so worried about? Your time may be better spent promoting cloakcoin instead of talking negative about other coins, think about it. |
|
|
|
On 2 th September here in Germany we have a bitcoin conference and I would like go there and represent VeriCoin. Therefor I will give away about 500 to 700 vrc to people with the Android wallet targeting about 100 people. I would like to bash everyone there with sending them vrc instantly with a NFC feature. Super simple and easy to use.
It would be great if the dev of the Android wallet would say something if he has plan in that direction. And a iPhone wallet would be great until than.
Cheers
Reavon, glad you will be bringing VeriCoin to the BTC conference there, that is awesome. Unek is mobile dev, contact him in IRC about your ideas. Also reading through your white paper, thanks for putting in so much time and effort, nice work. I'll pm when I've finished reading it through. Thanks! |
|
|
|
Thank you Tom this is fantastic! Great work! |
|
|
|
time for vericoin to implement decentralized in-wallet exchange. i may be willing to help with the design.
I agree decentraliced exchanges are needed more then ever espwcially for pos coins like vericoin. If that happens we all will be veri rich  We are working with a group to get a decentralized exchange, we will look into the possibility of it being in the wallet, that's a nice idea. Though it may be technically difficult, let's see. |
|
|
|
Hi folks,
Some were having a runtime error on windows for the most recent wallet. Please download this version as a temporary solution while we resolve the openssl conflicts. If you are on windows and have no problems, no need to download it. Also if you are Mac or Linux please disregard this, it only effects certain windows installs. Please uninstall then install this: http://www.vericoin.info/downloads/vericoin-setup.exe
|
|
|
|
Joel is still supporting VeriCoin from the backend, he decided being out in cryptoland too public is negatively effecting his reputation for his other businesses, due to some who slander him.
Why is he participating in other crypto then? He is currently pumping IOC. And the other day was all mad about "crypto scams" IMO I think you guys need to stop being nice to him and distance yourself. I don't think many in the community support him in any way, shape, or form. For me any association he has = red flag. You guys need to be the most trusted team in crypto. Associations with that guy, a clear manipulator / liar, are not helping... He has supported multiple coins always, he helps to get coins off the ground mostly. He is not on the team or anything, just a member of the community. He has come through on his commitments for VeriCoin however the company he hired didn't. But it all doesn't really matter because he's not in the foreground anymore. |
|
|
|
|
Joel is still supporting VeriCoin from the backend, he decided being out in cryptoland too public is negatively effecting his reputation for his other businesses, due to some who slander him.
|
|
|
|
|
Hey guys,
The debate over identity is interesting and helpful. At the conference we came up a with new way to handle this in a fully decentralized way where you have optional identification (mostly for merchants or any others) and complete privacy (mostly for individuals), decentralized on the blockchain. This is a silver bullet because identity on the blockchain is very public money transmission, yet without some identification mass adoption and full business adoption may be difficult. We think we have cracked this problem wide open, I can't give details on this because we are actively developing this right now, but it's a game changer.
|
|
|
|
|
Show Posts
