I couldn't agree more about what I say make a lot of sense :-)))
Seriously, thanks for being civil and reasonable, your constructive post it's really refreshing in the middle of continues moaning of over-sensitive prima donnas who can't accept constructive criticism. We have different view on how this coin could succeed, but we could still have civilized conversation.

Having transparent devs was the only reason I have invested and I fully agree the potential for this coin is huge - if the developers start the work and delivering. Everyone thought the transparency will be enough to succeed - unfortunately it is not enough. The only option to succeed is if the devs fulfil their promises of developing the coin.

English is not even my third language, so I apologize in advance for all confusions in my post  :-))

Most probably I hold more coins than the vocal supporters combined have, for that reason I follow this coin closely, and therefore I can give you an objective :-)) overview about the state of VeriCoin.

Hundreds of investors read the CV of the developers a few months ago. The CVs indicate the developers are capable software professionals with fairly impressive academic background. We liked the transparency theme and such transparency was a really unique feature in the altcoin market at the time. Everyone thought the bright, capable, honest, young developers will pull off this project. It seemed the only option is a success and if any coins can succeed that will be vericoin. So what happened in the summer? Well, the biggest failure of the altcoin market in this summer is VeriCoin. The price is 9k, the order book is a pathetic 5.5 BTC and the volume is 20 BTC that puts VeriCoin at the second page of Bittrex. The reasons of this spectacular failure are

a) The developers don't work on the software. The general expectations were that the vericoin devs are responsible and reasonable professionals and they will put the hard work into the project, the professional pride will drive them to deliver. The reality is that they don't deliver. That's why it hasn't been released anything in the last 10 weeks. (the meaningless road map that is full of bollocks doesn't count as delivery)

b) The developers are not in the league of serious crypto currency professionals like Peter Todd, Gavin Wood or btcdrak to just mention a few. This summer made clear that in order to succeed in the altcoin market the developers need to posses more skills than the ability of forking Sunny King codes and add a few useless functions like VeriBit, VeriSend and VeriSMS.

c) There is no clear strategy for the development of the coin. Lame ideas like the VISA card take precedence over sensible suggestions and again, no real progress in any areas.

Of course the devs can change the situation of "a", "b" and "c" easily, even "b" is changeable as we don't talk about rocket science here but software development, they can study the code base of other solutions and build on that new features for vericoin.

As the current situation is a complete failure, I strongly suggest do not invest your 10 BTC in vericoin. Your 10 BTC investment will push the price up with 5k, it will make ecstatic the hardcore cheerleaders, they will perform the usual rituals and dances for the cult leaders, socal will write his usual hosannas about the coming 100k price. However, the fundamentals of the project will remain the same and 2 weeks time the price will be even lower than it is today.
I suggest you wait, let the developers start working and deliver (anything would be great really) and then if you notice any improvements then you invest the 10 BTC in vericoin.

Good luck and let us know if you need more info :-)))

Hey Xosihc,

I doubt you had scanning back this thread. If you would then you could notice that we are having very civilized and constructive discussions about green addresses, instant transactions, how the blockchain works, blockchain 2 uses cases in the last few days.

The community is great, 90% of the users are really nice reasonable folks, Buy4Crypto, mercury, kasman, Barrabas, ScottAllyn, MAD945, Kevondo and other hundreds of users are really great. And there are a few 150k visionary assholes who are irritated buy critical posts and don't like that constructive critics like Barrabas, Buy4Crypto and myself point out the issues. All of us here want to see the price rise - we just disagree how to get there, but there's nothing wrong with that. I think the hardcore assholes "150k price is coming" approach is not good. On the other hand you disagree with my casually critical posts. I guess that's all right, the many different views could result a better price.

I hope your preparation for the big event is going well and your hard work will pay off :-)) I doubt the Minnesota event can achieve anything when the devs don't deliver the work, but at least you try your best and that's a good start.

Seriously boy, continue the fud list if it makes you happy, but the real issue is your www.vericoinish.com web site.

Pro primo, you are so full of shit and you don't realize that your absolutely outdated web site www.vericoinish.com does nothing good for vericoin.
Pro secundo, your embarrassingly primitive web site that is associated with Vericoin needs to be taken off-line immediately :-))

Arrogant cheerleaders with zero skills like yourself are the loudest here, no wonder the price is 8k. Having such web site you should be embarrassed and hide and come back once you learn in high school at least the very basic fundamentals of web design.

Let me know about the progress with your shit www.vericoinish.com web site, once you did some work on it I will evaluate the result :-)))

I know what you are saying, but don't expect transparency here, this is a serious business operation with NDAs all over the place and not a decentralized open source crypto currency project any more. I am sure they signed an NDA with DEV4 too ... you know like the NDA with the noname Coinbase about the VISA card. It is more important to comply with the terms of the untested Coinbase than involve the community with the process. If they would meet a drunk homeless and give him 20$ I am sure an NDA would be drafted if the drunken would request an NDA.

Anyway, of course I would support a good deal and wouldn't mind to donate, there's just nothing on the table or if there's something on the table the devs don't progress with it.

You are absolutely right, that would be a dream deal for Vericoin. The problem is, what I said at the moment I saw the info about the deal, the deal is not going to happen. No serious software developer enter into such agreement and take such risk. The deal under such terms is just not feasible. I am not FUDding just being realistic.

You are not buying anything clown, you never did. If you would buy then the price would not be at 8.5k.

Now, bugger off,  take off-line your embarrassing http://vericoinish.com/ web site and start working on that instead of trolling here. Vericoin should not be associated with embarrassingly unprofessional PR materials like your shit web site.  

LoL it was quite predictable that souljah1h's mate, another delusional boy with meaningless trolling and voting will be here in no time.

If you have vericoin at all (which I doubt you bought any from your high school pocket money) you should be concerned about the votes of the market. The market, the hundreds of investors who don't buy the coin voted and you hardcore cheerleaders failed in big time ... so better if you bugger off and work on your primitive vericoinish.com  web site :-))  it's really embarrassing that vericoin is associated with web sites like your 1999 drupal theme nonsense, broken 404 links are all over the place and one of the fucking ugliest Contact Us pages I came cross and I saw lot of shit since 1992 on the internet. You know, start from the basic - investors aren't making decisions based on your meaningless fudder lists but based on technical/PR materials like what you clown had put in the public domain.

One of the main issues of this coin that trolls like yourself are trying really hard to create hype and having fate in nonsenses like the lame VISA card, which will be released in November by the untested/noname Coinsis, with the terms of a US$ 15k payments that comes from the dumping of the devs, that card will be one of the 100 prepaid digital currency debit cards and will do absolutely nothing for vericoin. You are not so stupid to not to know this, but you are keep trolling by answering Barrabas, when Barrabas actually has raised valid points. Trolls like yourself who sit all day at the IRC channel and try to scam naive people into the coin with your 150k price predictions cause more harm than good for the coin. Your unconditional support for the cult leaders, hardcore cheerleading and hype making brought the coin to the 8.5k price, isn't? Young 22-25 years old guys like yourself and your IRC mates with zero experience in life, business, software and anything really are the most vocal trolls - no wonder the coin has been declining. People who consider to buy into vericoin can see that the eagerly anticipated  VISA card announcement did nothing for the price and your trolling just makes the VISA card tragicomedy look even worst. Potential investors can see the price is dropping, the devs were unable to deliver anything in the last 2 months, the VISA card and its surrounding announcement, secret terms and NDA is the Monty Python comedy of the altcoin market - in the meantime you are trolling your 150k price predictions all over the place.

Sorry for this rant :-))  all I tried to say stop trolling please about the lame VISA card and other non-existent attributes of the coin such as the devs are always deliver.

I agree with that, as I said you are quite right that there is place for other blockchains - for specific use cases.

All I tried to point out was that the most assumed use case the instant transaction is probably not the best one, because BTC can do that with green addresses and other payment service provider specific solutions. From the generic end users' viewpoint the green address and other existing solutions to perform instant transactions are perfect. The generic end users keep their private keys at online services lately, they could not care less about the implementation and how the BTC instant transaction works, it is there and it is good enough. Vericoin is not going to beat BTC because by offering instant transactions, that's for sure.

Yeah, you are right, I always say this that vericoin should try to compete in this area. On the other hand, needs to be realistic, because the outcome of the competition doesn't depend on who is the less intimidated and most ambitious, but mainly depend on a) expertise  b) hard work.

I am not sure if you are familiar with East Asia, when I am on business trip I always see the little Chinese guys on the basketball fields in Taipei - they are ambitious and not intimated, but they will never compete with Lebron James, because they are little, slow and by default configuration aren't suited for competitive basketball game.

Haha or not haha ... I am frequently informing about that questions users here who are (just like you) not familiar with the blockchain and the BTC source and programming aspects of the BTC blockchain, what you can do with BTC. Look at the conversation 4-5 days ago when I explained here timed transaction that allows instant transactions in a kind of trustless manner using green addresses on the BTC blockchain.

That's absolutely correct.


I am not sure about that seeing the progress and lack of expertise in the area. When I asked EffectsToCause two days ago he couldn't say any concrete information about the progress, it seems to me the devs can't even complete their first white paper. Then how far are they from Gavin Wood's excellent yellow paper that is not only a high level software document but a remarkable scientific paper in my opinion. If you are talking about competing with Ethereum then you compete with Gavin Wood and Buterin, not an easy task at all :-))

I expect a consolidation in the digital currency world and only 1-2 digital currencies survive eventually, probably only Bitcoin. However, there could be many digital currency and blockchain enabled applications such as Ethereum and other platforms, that provides a framework for different type of use cases and in order to perform the use case you need to use the platform specific digital currency, which is in the case of Ethereum ether. In my opinion if vericoin can find that specific use case like decentralized exchange, decentralized marketplace, rolling doughnut hole that accept flying fucks or whatever is a USEFUL USE CASE than it is a good chance to get even 100 million users. If you just want to be the generic digital currency then you directly compete with Bitcoin, and there is no chance in my opinion.

LoL actually that's true, I didn't read the rest of the post.

I purely speculate when I say worldwide mass adoption theme is a delusion, and you could be right that it is doable. Since vericoin can't even convince the crypto currency literate geeks and the current exchange users to support the coin, I can't see what would convince the general public to adopt vericoin as a digital currency instead if using Bitcoin. As you said it should offer some feature that complement to BTC. Like blockchain 2 features, which I have been banging on here for a while. Again, nothing is a certainly winning recipe, saying the blockchain 2 feature would help is speculation as well.

Technically speaking that's not quite true. As far as I know the development is in progress. Btcdrak tutorial is available on Youtube, that indicates the software development is in progress and is a very impressive and encouraging step forward. What most matters and other coins lack of it, viacoin is developing  a great feature.

It remains to be seen whether the effort will be translated to financial success, but having an innovative application at least viacoin has the chance to succeed.

Give the process some time, 2-3 months to succeed :-))

Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

Having said that Buy4Crypto's effort is great, at least he realised that the brainless cheerleading won't help and something needs to be done. I think Barrabas' "good guys" theme makes lot of sense, that could work especially if ppl like Buy4Crypto support the idea.

It's is very good you mentioned that threat and very understandable you are concerned about it, as you said there are malicious content released in software all the time. For a publicly released software project one of the biggest threats is a malicious code/content. As long as the adequate quality assurance (QA) procedures are preformed the threat could be eliminated.

Anyway, good work, thanks for putting the time into the process, I hope you will succeed with the new direction :-))

While the integrity the of the code and letting malicious content into the source is always a concern, and you are quite rightly worried about it, there are generic software engineering methods/practices such as code review and testing at different levels just to mention a few unit test, integration test and system test to ensure the application meets the requirements and it does what it is intended to do. As long as generic software engineering practices in place the malicious code should never be part of the release. There are experienced developers in this project (at least their CV implies that), they should be able to ensure the integrity of the code.