I think temporary closed-source is something darkcoin did right. We should do this too. Only until it's widely accepted that we were the first stealth coin - then open it up. It would be far too easy for someone to steal our thunder right now.

THIS THREAD IS A SCAM AND HARMING A SERIOUS PROJECT! STAY AWAY FROM THIS RUSSIAN SCAMMERS!!!!

you re talking bullshit. this project is here and it will stay.
we have 2 native russians in this project.
we are not in russia to follow the rules of "ppl" like you.

you don't like the project? stay out of it.
BUT IT WILL BE HERE: AND IT WILL LAUNCH:

Doesnt MATTER WHAT YOU DO. WE WILL STAY!

Not really vert related but I finished reading up on the DRK thread.

One thing that really rings alarm bells to me is the level of blind faith and expectation they have on their developer. Its scary. They seem to be idolizing him like a prophet that has arisen to show them all towards the  light. Having such a high profile single point of failure is a strong warning sign. Im not knocking him or his coin he has brought it a long way, but some of the members over there seem to be overcome with irrational exuberance. when they start posting his time zone, suggesting he gives his telephone number out to certain members on the thread so they can check up on him, speculating if he is asleep or not, talking about his social life and schedule...its just...wrong on many levels. It cant end well.

it will be dead soon.
They want to loose their money and invest into VTC. Thats how markets are working

thanks.
Darkcoin:
1) Single developer - and he's quite good, does not bother me. has advantages.

2) Closed source (code review for DarkSend is not exist) - i just saw v1 will be released soon and ring signatures, ip obfuscation etc will be implemented in v2.

3) Many versions of wallet and algorithm of max amount coins - ? not sure i follow, please explain.

4) Enough effective mining by CPU (hello botnets) - if it becomes a problem they can go pos with the masternodes right? why are almost all new altcoins using x11 then?

5) Initial orientation for illegal activity, and therefore, no chance of official recognition. - good. that's what my btc is for.

6) Unknown position single developer towards ASICs ? i don't understand what you're saying.

so far all anyone has done is convince me that vrt is better than ltc. but can vrt overcome the first/second mover advantage of ltc and it's current ecosystem, i'm not yet convinced of that.

i just sold the last of my vrt a few days ago and bought more drk. also sold half my anc and all my xpm and put it all into drk. thinking about selling half my ltc now and going dark.

why do you feel vrt is "much superior" to drk? anyone please...

A render, russian site...scam.

What you guys think, can this be correct?

from http://blissdevices.com/faq/

Hi Guys

This is interesting but by no means alarming, I have just spoken with the rest of the team and here are our thoughts.

Vertcoin has never claimed its impossible for ASIC’s to mine Nfactor it does however make it more difficult, with that said Vertcoin has said that it will do everything in it’s powers to remain ASIC resistant.

We have a number of measures in our arsenal to stop these ASIC’s in their tracks, could they spend a year and invest millions to mine Vertcoin? the answer is probably yes, in response would we change Vertcoin to make the time and investment worthless? most definitely yes.

We could hard fork now and make these claims redundant but we think that its best to keep our cards to our chest and keep them second guessing, this isn’t bravado this is protecting all of our investments and helping to maximise our strategy that continues to be keeping vert coin ASIC resistant.

Paul talks on this matter in his recent interview with David Seaman so check it out.

Keep holding on to your nuggets and enjoy the ride.

Best

Webbs for Team Vertcoin

I don't know how many times we have to publicly say "VTC will hardfork if necessary to keep ASICs out" - we must have said it a hundred times!

I'll say it again, in case repetition number 101 will help - VTC will hardfork if that every becomes necessary to keep ASICs out. This isn't LTC, we're not going to suddenly decide to give up and capitulate in the face of a need to hardfork, we will do whatever is necessary to keep VTC decentralised and in part that means excluding ASICs by whatever means necessary.

http://blissdevices.com/tech-specs/

"Scryptr also provides a high level of flexibility to support mining of newer coins that are “fairer” to miners such as Vertcoin by allowing configurable Scrypt parameters. Also, the chip’s PCIe interface enables faster and greater data transfer speeds, if and when new algorithms require more network data."

http://www.reddit.com/r/scryptmining/comments/20x6r0/bliss_devices_announces_new_prices_on_scrypt/cg8xcd6

"Our chip supports configurable N parameters which allows it to mine N-factor scrypt up to N=262144, which is still about 35 years away."

...so when can we expect the change of PoW?

It's exactly the same with the collective delusion of cpu only coins that are at the same time mined by gpu clients that cpu miners are unaware. "It's a botnet", "it's a server farm" etc... yep, sure. That's the kind of delusion that awaits gpu miners when unannounced ASICs will take over. When you've played your own card by stating your intention that you'll shift PoW algorithm when ASICs get out, then it's simply logical that when ASICs are made, they will not be announced. They will simply mine on the network while everyone complains about how unprofitable the coins have become compared to the electricity that they are burning (because ASICs will be taking the bulk of the profit, masquarading as GPUs).

The cryptocurrency networks are more about securing the networks than benefiting a sub-optimal class of miners with excessive energy waste and low hashrates, like the GPU miners. And let's be honest here: Most GPU miners simply "love" certain coins because they can mine them and dump them. They don't care about centralization but rather maximum profit. That's why they end up in the largest pools, hurting the coins that they are mining.

This is no guarantee. If Vert, says, attain Litecoin #2 status and goes to, say, 100-200-500mn market cap, an ASIC manufacturer could create 100 VTC asics and never announce them as such but simply use them to gain an enormous share from the mining (that more than pays out his own development cost). He'd simply spread his hashpower around to various pools so that his hashpower doesn't seem very concentrated, and then rape the network while everyone is thinking that its just GPU-farms hashrate since "there are no ASICs".

What then? If there are no announced asics how can the devs take the initiative to proceed to a hardfork? Based on what? The mere suspicion that there are ASIC miners out there in the wild?

At that time everyone will have ASIC chip in their tablets to help process transactions.
VTC is the only coin with devs laying out plan from the beginning to fight against ASIC.
I havent seen other coin devs mention they realize an active defense against ASIC is necessary.
Elitism is bad, so ASIC is bad for now before VTC goes mainstream.
My 2c.