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+1862

If Vertcoin doesn't take on some type of anonymity it'll be replaced by one that does have an adaptive N factor and anonymity. It's not about what government wants, rather what people want that use a currency. People use cash for a reason even though you can buy anything with a credit card by swiping it through your cell phone now days. A large pull for cryptocurrencies is that it's a safe haven from excessive taxes and expansive government power. The question for Vertcoin is whether it wants to be digital cash or only a replacement to credit cards. My thinking is that credit cards work fine. That's not what we're trying to replace. My hair stylist only accepts cash for a reason and it's small business owners like that who we want to target. If a coin is taxable it's worthless because I might as well just use dollars.

The argument that and anonymous currency can be used by criminals is weak at best. You could say the same thing about gold. Gold bars could be used as payment by gangs because they have no serial numbers and can be melted down into jewelry that can smuggled in and out of countries. All the governments in the world can yell about the evils of gold but nobody is going to listen to them because they see the real value.

You're using incorrect hardware. You need to go invent a new ASIC or use a CPU or GPU.

I can't tell if serious or....

Merged mining enables you to earn namecoins along with bitcoins. They don't require any extra effort if the pool has them enabled. They're not worth much but it's a nice bonus because you can trade them for at least some bitcoins.

I use bitminter as my pool because they share transaction fees and have merged mining. They have really nice stats too.

I'm mining on my A10-5800K. I'm getting 85MH/s SHA-256 and 55KH/s Scrypt. So that's $0.44 a day for bitcoin mining and $0.38 for litecoin. So it just depends on your hardware I think. A lot of cards do about an equal amount of MH and KH so in that case litecoin would be worth it.

I've been mining bitcoin and exchanging for litecoin. I think it's a better position to be in. Bitcoin is overvalued and litecoin is undervalued in my opinion.

One thing that I have a problem with litecoin is the mining pools available. They're not as well developed as with bitcoin yet and they're not really clear on some things like whether or not they share transaction fees. I'll personally be staying with bitcoin even if it's 5 or 10% less profitable than litecoin because the litecoin pools are a lot more shady and likely to collapse for now, taking your earnings with them. I wish bitminter would hurry up and start doing litecoins!

Can we not just make a kickstarter already to make a non-profit open source ASIC company? Make them available through Amazon.com so everybody gets the same chance to buy one.

I'm using hardware that I already have to mine. I'm not investing in anything since ASICs are coming out and the price is too unstable. Just too many questions and too much uncertainty. My brother had a 5770 just laying around not being used so I'm using that and sending him some of the earnings.

I think there is more money to be made trading coins actually. I made like 10% trading between BTC and LTC on BTC-E.com yesterday which is faster than I was making mining. I think it's a good bet to buy litecoins if you're taking a long position. I think people are going to lose interest in Bitcoins when it's unprofitable because of ASICs and the price is going to fall. It's difficult to predict what's going to happen though.

I need help understanding the payout transaction fees. Are they a fixed percentage of earnings paid out regardless of how often or is it a fixed amount per transaction? Is there any fee at all charged to the recipients or is the fee paid by the pool? I know there are several recipients of each payout but how does that work transaction fee wise?

Basically I prefer to be paid more often but I can set it to pay out less frequently if it's going to cost me more in fees.