boxalex
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Activity: 420
Merit: 13
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May 09, 2018, 11:31:54 AM |
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Although i agree with you in most of your arguments, i read sometimes now, that the higher max supply of verge, compared to bitcoin, has any influence to that. I dont think this is true. Of course the higher max suplly is responsible for a much lower price. But there will be a decreased number of new coins coming to the market. It can influence the price. Of course it will not double the price. But it could happen, that the price increases a bit. If you look at the last bitcoin halving, it took some time after that, but then bitcoin price rised. Att his time, just to keep the price as it is, there must be a demand that is high enough to compensate the new coins that come to the market. So if the demand (and i also mean the demand for the new mined coins) stay as it is, but the number of new mined coins decrease, this could result in an increasing price. We will see, hey it is crypto... Noone knows.
Regarding mining: In the end, there will be a lot of miners, that will switch to other coins. And after a few days, the earnings will distribute through the different coins. So i think the mining earnings will, after a short while, only go down a little bit. Of course it maybe, that the earnings will go down today, immediately after the halving, significantly. But it will go up again after a while. There will be less miners for verge, this means lower dificulty, this means more earnings for the miners that stay. A lot of people anyway do multimining with autoswitch, they will switch to other coins (this means the difficulty for that other coins will rise, and they earn less there...) After a while there will be a new balance again and everything will be fine.
The problem in your calculation or scenario is that you think that the big majority of demand is created by mining, but that is not the case. All the demand is/will be covered by the excisting cicrulating suppoly that is allready on exchanges or will go there easyly if needed. This is the main problem with high max. supply coins. It would need a lot that some extra supply is needed. Just did some reasearch. On average for the last 15 days 1.412 blocks per day are mined, means about 2,259,200 XVG/daily. After halving in theory it would be half of it, 1,100,000. This number will fluctuade a bit forworth and backworth up to how many miners switch and if the remaining will compensate it by less difficulty. In the end it should be the same, meaning around 1,100,000 XVG are generated daily. As said in my previous post, the change of less daily mineded XVG compared to the excisting XGV circulating supply is about 0,007 daily. Have in mind that again, dailly you get again some new 1.1M XVG and that it did not stop at all. I will try to make another example: The last 24 hours the 24h XVG volume was ~$100,400,000 USD, means there are 1,434,285,714 XVG traded the last 24 hours. You now get maybe the idea that these 1M XVG less daily do NOT There is make any change at all at the exchange. There is just enough supply for the demand in circulation allready. It would be a different story IF a sudden the demand is 2x higher than the available supply. THAN indeed the new mined coins had an impact. Conclusion, we miners won't feel the halving in price at all, it will be mostly something in the range of 0.0001 USD, at very most. |
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MiCoSa
Jr. Member
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Activity: 201
Merit: 1
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May 09, 2018, 11:53:48 AM |
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Although i agree with you in most of your arguments, i read sometimes now, that the higher max supply of verge, compared to bitcoin, has any influence to that. I dont think this is true. Of course the higher max suplly is responsible for a much lower price. But there will be a decreased number of new coins coming to the market. It can influence the price. Of course it will not double the price. But it could happen, that the price increases a bit. If you look at the last bitcoin halving, it took some time after that, but then bitcoin price rised. Att his time, just to keep the price as it is, there must be a demand that is high enough to compensate the new coins that come to the market. So if the demand (and i also mean the demand for the new mined coins) stay as it is, but the number of new mined coins decrease, this could result in an increasing price. We will see, hey it is crypto... Noone knows.
Regarding mining: In the end, there will be a lot of miners, that will switch to other coins. And after a few days, the earnings will distribute through the different coins. So i think the mining earnings will, after a short while, only go down a little bit. Of course it maybe, that the earnings will go down today, immediately after the halving, significantly. But it will go up again after a while. There will be less miners for verge, this means lower dificulty, this means more earnings for the miners that stay. A lot of people anyway do multimining with autoswitch, they will switch to other coins (this means the difficulty for that other coins will rise, and they earn less there...) After a while there will be a new balance again and everything will be fine.
The problem in your calculation or scenario is that you think that the big majority of demand is created by mining, but that is not the case. All the demand is/will be covered by the excisting cicrulating suppoly that is allready on exchanges or will go there easyly if needed. This is the main problem with high max. supply coins. It would need a lot that some extra supply is needed. Just did some reasearch. On average for the last 15 days 1.412 blocks per day are mined, means about 2,259,200 XVG/daily. After halving in theory it would be half of it, 1,100,000. This number will fluctuade a bit forworth and backworth up to how many miners switch and if the remaining will compensate it by less difficulty. In the end it should be the same, meaning around 1,100,000 XVG are generated daily. As said in my previous post, the change of less daily mineded XVG compared to the excisting XGV circulating supply is about 0,007 daily. Have in mind that again, dailly you get again some new 1.1M XVG and that it did not stop at all. I will try to make another example: The last 24 hours the 24h XVG volume was ~$100,400,000 USD, means there are 1,434,285,714 XVG traded the last 24 hours. You now get maybe the idea that these 1M XVG less daily do NOT There is make any change at all at the exchange. There is just enough supply for the demand in circulation allready. It would be a different story IF a sudden the demand is 2x higher than the available supply. THAN indeed the new mined coins had an impact. Conclusion, we miners won't feel the halving in price at all, it will be mostly something in the range of 0.0001 USD, at very most. well it is the same with bitcoin, the new mined coins are about 24 * 6 * 12,5 = 1800BTC a day. there 17.000.000 Bitcoins out there. But last time after the halving and with a bit delay, bitcoin price increased significantly. But of course, it is not for sure, that the reason was the halving. So in the end, it is like said: It is crypto and noone knows. We have to wait and see what will happen. And in the end we will not know for sure what ever will happen, if it is because of the halving or not, because there are so much other things that can change the price... |
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D3m0nKinGx
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May 09, 2018, 02:40:53 PM |
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Although i agree with you in most of your arguments, i read sometimes now, that the higher max supply of verge, compared to bitcoin, has any influence to that. I dont think this is true. Of course the higher max suplly is responsible for a much lower price. But there will be a decreased number of new coins coming to the market. It can influence the price. Of course it will not double the price. But it could happen, that the price increases a bit. If you look at the last bitcoin halving, it took some time after that, but then bitcoin price rised. Att his time, just to keep the price as it is, there must be a demand that is high enough to compensate the new coins that come to the market. So if the demand (and i also mean the demand for the new mined coins) stay as it is, but the number of new mined coins decrease, this could result in an increasing price. We will see, hey it is crypto... Noone knows.
Regarding mining: In the end, there will be a lot of miners, that will switch to other coins. And after a few days, the earnings will distribute through the different coins. So i think the mining earnings will, after a short while, only go down a little bit. Of course it maybe, that the earnings will go down today, immediately after the halving, significantly. But it will go up again after a while. There will be less miners for verge, this means lower dificulty, this means more earnings for the miners that stay. A lot of people anyway do multimining with autoswitch, they will switch to other coins (this means the difficulty for that other coins will rise, and they earn less there...) After a while there will be a new balance again and everything will be fine.
The problem in your calculation or scenario is that you think that the big majority of demand is created by mining, but that is not the case. All the demand is/will be covered by the excisting cicrulating suppoly that is allready on exchanges or will go there easyly if needed. This is the main problem with high max. supply coins. It would need a lot that some extra supply is needed. Just did some reasearch. On average for the last 15 days 1.412 blocks per day are mined, means about 2,259,200 XVG/daily. After halving in theory it would be half of it, 1,100,000. This number will fluctuade a bit forworth and backworth up to how many miners switch and if the remaining will compensate it by less difficulty. In the end it should be the same, meaning around 1,100,000 XVG are generated daily. As said in my previous post, the change of less daily mineded XVG compared to the excisting XGV circulating supply is about 0,007 daily. Have in mind that again, dailly you get again some new 1.1M XVG and that it did not stop at all. I will try to make another example: The last 24 hours the 24h XVG volume was ~$100,400,000 USD, means there are 1,434,285,714 XVG traded the last 24 hours. You now get maybe the idea that these 1M XVG less daily do NOT There is make any change at all at the exchange. There is just enough supply for the demand in circulation allready. It would be a different story IF a sudden the demand is 2x higher than the available supply. THAN indeed the new mined coins had an impact. Conclusion, we miners won't feel the halving in price at all, it will be mostly something in the range of 0.0001 USD, at very most. well it is the same with bitcoin, the new mined coins are about 24 * 6 * 12,5 = 1800BTC a day. there 17.000.000 Bitcoins out there. But last time after the halving and with a bit delay, bitcoin price increased significantly. But of course, it is not for sure, that the reason was the halving. So in the end, it is like said: It is crypto and noone knows. We have to wait and see what will happen. And in the end we will not know for sure what ever will happen, if it is because of the halving or not, because there are so much other things that can change the price... With Bitcoin Last year it was more about the FORKS that caused the price rise. Ppl buying in to get the free 1:1 coins. |
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Inmytree
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Activity: 224
Merit: 0
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May 09, 2018, 05:23:12 PM |
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So much good news coming in lately  I can't remember the last time we have period like this We haven't had it I suppose |
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Vindizzle
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Activity: 364
Merit: 10
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May 09, 2018, 05:53:51 PM |
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Pretty good reasoning, it makes sense, it would lower the transaction costs significantly and plus is that Spotify is a tech company and lets say familiar with crypto so this shouldn't be like a huge step form them, but a natural progression. |
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Searing
Copper Member
Legendary
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Activity: 2982
Merit: 1788
Clueless!
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May 09, 2018, 06:54:23 PM |
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offtopic...
but anyone know what a wraith 4.0 qt-wallet -4 error is? Got it synched after a week...and trying to import a paper wallet with some low verge on this wallet
and not sure if the wallet is corrupt or what ...pm me for details or share on this thread...thanks brad
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Old Style Legacy Plug & Play BBS System. Freeware! Get it from www.synchro.net. Updated 3/3/25. It also works with Windows 11 and Linux. Allows 16 bit DOS game doors on the same Win 11 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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D3m0nKinGx
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May 09, 2018, 07:41:37 PM |
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offtopic...
but anyone know what a wraith 4.0 qt-wallet -4 error is? Got it synched after a week...and trying to import a paper wallet with some low verge on this wallet
and not sure if the wallet is corrupt or what ...pm me for details or share on this thread...thanks brad
1) shutdown the wallet 2) go to your VERGE data folder %appdata%/roaming/VERGE on windows or ~/.VERGE on linux 3) delete the debug.log 4) restart your wallet and retry to do the import. and then look in the debug.log file for the error, this may help find what is going on. |
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D3m0nKinGx
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May 09, 2018, 08:04:15 PM |
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Anybody know what VERGE wallet specific parameters are available to set in the VERGE.conf file ?
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zneww
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May 09, 2018, 09:28:27 PM |
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Anyone having problems connecting on moblie wallet recently?
I installed the android tor wallet two days ago... but i get "no connection"... i've orbot installed and running well for other applications... and also verge app in the list of tor-enabled apps.
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Bytecoiner419
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May 10, 2018, 01:08:43 AM |
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LMAO, love the poll at the top of this thread.  I'm a new Vergein (is that what we call people that are using XVG for the first time?) I have my core wallet syncing now and I already have a nice stack to toss into the wallet once it gets synced... My question, about how long will it take to sync the entire wallet? Thanks for any advice. I plan to HODL my XVG for at least a few years while I keep picking up more and more over time.  |
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giantkin
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May 10, 2018, 01:13:12 AM |
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my suggestion... STop the sync. goto the main page. ( vergecurrency etc... .com) look for the dl block chain, its there. (only get it thru that link) its a large file. letting it sync, will take 2-3days (depending) If you DL it, itll take maybe an hour to first load... then every time u start it after that, it should get a bit faster. GL  |
http://choicehost.biz Domains and DIY -hosting I save $5 or so, for each domain a year. (Compared to other Domain Registrars)
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nick1492
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May 10, 2018, 01:26:39 AM
Last edit: May 10, 2018, 01:43:59 AM by nick1492 |
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Looks like verge mining is now half of its previous. That's what I get now on my mining rig. With lessen supply of verge, people now will resort to buying it on their exchanges. I expect verge to surge to above 1200 sats with its current value on mining which is very low now!
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Searing
Copper Member
Legendary
Offline
Activity: 2982
Merit: 1788
Clueless!
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May 10, 2018, 02:09:38 AM |
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LMAO, love the poll at the top of this thread. I'm a new Vergein (is that what we call people that are using XVG for the first time?) I have my core wallet syncing now and I already have a nice stack to toss into the wallet once it gets synced... My question, about how long will it take to sync the entire wallet? Thanks for any advice. I plan to HODL my XVG for at least a few years while I keep picking up more and more over time. heh...my setup may be broke (see my previous post on this thread) but with cable connection of 90mb...it took a week more or less (then I ran into other issues) FYI. |
Old Style Legacy Plug & Play BBS System. Freeware! Get it from www.synchro.net. Updated 3/3/25. It also works with Windows 11 and Linux. Allows 16 bit DOS game doors on the same Win 11 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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crypt0kid
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May 10, 2018, 05:41:28 AM |
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The coming XVG debit card could be a game changer, but how does that affect TokenPay. This is an interesting partnership. I'd love to better understand what each side benefits.
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layer1gfx
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Activity: 2142
Merit: 1116
Graphic Design & Translation - BTC accepted here!
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May 10, 2018, 07:13:08 AM |
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yes verge should team up with komodo as well. that would be a great mix of a privacy coin on a decentralized cross chain exchange. all boxes ticked  |
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D3m0nKinGx
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May 10, 2018, 07:24:10 AM |
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yes verge should team up with komodo as well. that would be a great mix of a privacy coin on a decentralized cross chain exchange. all boxes ticked It doesn't take much more then doing a Pull Request on their github repo, see example: https://github.com/KomodoPlatform/BarterDEX/pull/198/filesThen they'll check the wallet and if it's good to go they'll integrate it in. |
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ggameon
Jr. Member
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Activity: 201
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May 10, 2018, 09:35:45 AM |
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tomsmith26
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May 10, 2018, 02:09:56 PM |
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yes verge should team up with komodo as well. that would be a great mix of a privacy coin on a decentralized cross chain exchange. all boxes ticked I think Verge and Komodo are two different fields in the crypto world so the combination is so hard and Each project has its own purpose. Do you think Komodo platform can compete strongly with Ethereum Platform in the near future? My answer is "Yes" |
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Poll
