[$XVG] VERGE [POW][MultiAlgo][TOR/i2P][no premine/ico!]

[Dogedarkdev]

IS there any benefit for long-term Verge holders?

I mean, something like stake/masternodes/harvest/fees/revenue

Can I actually gain something from keeping XVG's on my wallet?

hodling has it's own advantages/disadvantages. our shop opens up soon and will be accepting xvg.

we dont have masternodes, because it's a network weakness/centralization point. we can/may incorporate PoS one day, if we can come up with a fair system, that doesnt reward by amount in balance, but a flat reward that is fair. we'll see. right now our multi algo mining is fine though.

If Verge ever incorporates PoS I'm out completely.

like i said, if we did, it would be a flat reward, not a reward based on the users balance. we have no interest in making the large holders even more money.

what would you have against that?

[Dogedarkdev]

IS there any benefit for long-term Verge holders?

I mean, something like stake/masternodes/harvest/fees/revenue

Can I actually gain something from keeping XVG's on my wallet?

hodling has it's own advantages/disadvantages. our shop opens up soon and will be accepting xvg.

we dont have masternodes, because it's a network weakness/centralization point. we can/may incorporate PoS one day, if we can come up with a fair system, that doesnt reward by amount in balance, but a flat reward that is fair. we'll see. right now our multi algo mining is fine though.

If Verge ever incorporates PoS I'm out completely.

like i said, if we did, it would be a flat reward, not a reward based on the users balance. we have no interest in making the large holders even more money.

what would you have against that?

A bunch of reasons, but number one is miners invest a lot into their rigs. Some miners might even buy or build their rig intending to mine mostly this coin, knowing it is multialgo minable. As soon as it goes PoS in the least bit they lose out on their investment. So if we want to keep getting more miners to join we can only use PoW, and keep adding new PoW algorithms to increase the pool of miners who can participate with their existing equipment. Namely, PoS ruins miners' incentives and thus creates a perverse incentive to create a PoS nonminer network that destroys the existing network.

From the beginning, like when Peercoin came out, my first problem with PoS is it in a way opens fractional reserves as it uses an interest rate. It's usury in the original definition of the word. It's even forbidden in certain religions because of its immorality. An interest rate is an arbitrary invention. It might not look like debt at first, but it is the rest of the network owing the holders a fraction of their investment in real terms (not nominal terms, as user balances do not decrease).

And as much as trying to figure out what would be fair at a group level sounds virtuous, it unavoidably comes at the expense of other individuals.

i agree with most of what you are saying, but im not sure if you are aware of two things... 1: we can still have pow while having pos. 2. i said if we even considered it, it would be a flat reward, not a percentage rate of a users balance. everyone would get an equal amount.

[Krenarbi]

i tried to check my verge coins today and saw the site down. came here and saw that the wallet been deleted? WTF? what level of incompetence is this??

have you not read the thread? the web wallet DOES NOT EXIST ANYMORE. it was announced 5 weeks ago it was going offline soon. i contacted the host to see if it could be restored and the answer was no. we did not want to keep it anyway, since the first rule in crypto is make sure YOU own your coins.

THEN STOP REMOVING MY POST!! the community deserves to see how incompetent your team is when they can't even deal with taking off a wallet offline properly

you can keep posting that, but we'll keep deleting it. it isn't our fault you didn't read the thread 5 weeks ago.

we've moved on, we already wasted two pages discussing it over and over.

NOPE. i will keep posting to show how incompetent your team is

[TheMostGhost]

If you are a serious "HODLER" than it is your duty to check your coins/ forum-related posts / website weekly.

It is completely your fault - and you are the one who is incompetent.

Sincerely,

TMG

[FYIcryptoz]

IS there any benefit for long-term Verge holders?

I mean, something like stake/masternodes/harvest/fees/revenue

Can I actually gain something from keeping XVG's on my wallet?

hodling has it's own advantages/disadvantages. our shop opens up soon and will be accepting xvg.

we dont have masternodes, because it's a network weakness/centralization point. we can/may incorporate PoS one day, if we can come up with a fair system, that doesnt reward by amount in balance, but a flat reward that is fair. we'll see. right now our multi algo mining is fine though.

If Verge ever incorporates PoS I'm out completely.

like i said, if we did, it would be a flat reward, not a reward based on the users balance. we have no interest in making the large holders even more money.

what would you have against that?

A bunch of reasons, but number one is miners invest a lot into their rigs. Some miners might even buy or build their rig intending to mine mostly this coin, knowing it is multialgo minable. As soon as it goes PoS in the least bit they lose out on their investment. So if we want to keep getting more miners to join we can only use PoW, and keep adding new PoW algorithms to increase the pool of miners who can participate with their existing equipment. Namely, PoS ruins miners' incentives and thus creates a perverse incentive to create a PoS nonminer network that destroys the existing network.

From the beginning, like when Peercoin came out, my first problem with PoS is it in a way opens fractional reserves as it uses an interest rate. It's usury in the original definition of the word. It's even forbidden in certain religions because of its immorality. An interest rate is an arbitrary invention. It might not look like debt at first, but it is the rest of the network owing the holders a fraction of their investment in real terms (not nominal terms, as user balances do not decrease).

And as much as trying to figure out what would be fair at a group level sounds virtuous, it unavoidably comes at the expense of other individuals.

i agree with most of what you are saying, but im not sure if you are aware of two things... 1: we can still have pow while having pos. 2. i said if we even considered it, it would be a flat reward, not a percentage rate of a users balance. everyone would get an equal amount.

Wouldnt this have a flaw by hosting multiple wallets with very little coins in it. If youre getting the same reward anyways?

[Slemicek]

You, who have lost xvg on web wallet, can blame only yourself. It was said month ago here, I was said so many times on telegram, it was on slack. I had some xvg on web wallet also, although it's not safe, but I had month to transfer them to my electrum, which I did, because I care about my investments. I'm  reading what is new, I'm part of community at channels...etc. So if you're that type of hodler who doesn't care about coins after buying it and just hodl for long term why do you even used web wallet? Web wallets are dangerous and if used then only temporarily.  And if you are not that type of hodler I bet you were online at least thousands times in those 5 weeks and you could easily read that web wallet is not recommended and that it's going to b offline. I'm sorry for your lost xvg, but it's your fault, now you just fake blame dev and whole verge team. And that's pathetic. 

[ceasarpolar]

i tried to check my verge coins today and saw the site down. came here and saw that the wallet been deleted? WTF? what level of incompetence is this??

have you not read the thread? the web wallet DOES NOT EXIST ANYMORE. it was announced 5 weeks ago it was going offline soon. i contacted the host to see if it could be restored and the answer was no. we did not want to keep it anyway, since the first rule in crypto is make sure YOU own your coins.

THEN STOP REMOVING MY POST!! the community deserves to see how incompetent your team is when they can't even deal with taking off a wallet offline properly

you can keep posting that, but we'll keep deleting it. it isn't our fault you didn't read the thread 5 weeks ago.

we've moved on, we already wasted two pages discussing it over and over.

NOPE. i will keep posting to show how incompetent your team is

Have you ever been on Telegram Verge group? Anyone that asks there about verge online wallet was informed about verge online wallet was going off line & that was completely unsecure of leaving your coins there since you dont control your private keys. Plenty of options were available to you, coinomi wallet, core wallet, or finally just leave THEM IN THE DAMN EXCHANGE.

You decided otherwise and went ahead placed them in online wallet, and forgot about them for sometime, without checking about your investment, which is completely unthinkable if you were to care about your investment.
I personally check with the community everyday, the Dev is great and always helpful, answers all the questions you ask him & he is in fact way more patient than what i would have been if i were to be in his spot. That being said Kudos to the Dev.

You cant blame the developpers or the team since you are the one that decided to go to online wallet solution knowingly that you won't control your private keys, that s insane to me. You should ALWAYS control your private keys.
In crypto your private keys is your money...

Sorry for your loss but it s entirely your fault.

Hope you can make it back...

[chilly2k]

IS there any benefit for long-term Verge holders?

I mean, something like stake/masternodes/harvest/fees/revenue

Can I actually gain something from keeping XVG's on my wallet?

hodling has it's own advantages/disadvantages. our shop opens up soon and will be accepting xvg.

we dont have masternodes, because it's a network weakness/centralization point. we can/may incorporate PoS one day, if we can come up with a fair system, that doesnt reward by amount in balance, but a flat reward that is fair. we'll see. right now our multi algo mining is fine though.

What about adding POS as another algo? 

Also Clams does POS and the reward is 1 clam per block.  You do have a higher chance of staking a block with more coins, but the reward is fixed.  You would also have control over the minimum stake age, so folks would have to commit holding coins for x amount of time before they can stake.  <- has the feel of locking coins in a masternode, without an actual mastermode. 

[Dogedarkdev]

IS there any benefit for long-term Verge holders?

I mean, something like stake/masternodes/harvest/fees/revenue

Can I actually gain something from keeping XVG's on my wallet?

hodling has it's own advantages/disadvantages. our shop opens up soon and will be accepting xvg.

we dont have masternodes, because it's a network weakness/centralization point. we can/may incorporate PoS one day, if we can come up with a fair system, that doesnt reward by amount in balance, but a flat reward that is fair. we'll see. right now our multi algo mining is fine though.

What about adding POS as another algo? 

Also Clams does POS and the reward is 1 clam per block.  You do have a higher chance of staking a block with more coins, but the reward is fixed.  You would also have control over the minimum stake age, so folks would have to commit holding coins for x amount of time before they can stake.  <- has the feel of locking coins in a masternode, without an actual mastermode. 

the type of PoS i have in mind, is something similar, but with an extraordinarily low reward. maybe something like .001 per block, so that there would be no way to take advantage of it. this way the PoS would be more voluntarily than "for profit".

[R-J-F]

i tried to check my verge coins today and saw the site down. came here and saw that the wallet been deleted? WTF? what level of incompetence is this??

have you not read the thread? the web wallet DOES NOT EXIST ANYMORE. it was announced 5 weeks ago it was going offline soon. i contacted the host to see if it could be restored and the answer was no. we did not want to keep it anyway, since the first rule in crypto is make sure YOU own your coins.

THEN STOP REMOVING MY POST!! the community deserves to see how incompetent your team is when they can't even deal with taking off a wallet offline properly

you can keep posting that, but we'll keep deleting it. it isn't our fault you didn't read the thread 5 weeks ago.

we've moved on, we already wasted two pages discussing it over and over.

NOPE. i will keep posting to show how incompetent your team is

Get over it newbie or, whoever you really are, you had 5 weeks of notice and YOUR incompetence, by never checking the multiple notification media they posted the announcement in, caused YOU to loose YOUR coins.

[HitTheLow]

why my windows wallet is not working? it stay in "loading block index"

This problem is from TODAY

[Dogedarkdev]

why my windows wallet is not working? it stay in "loading block index"

This problem is from TODAY

just be patient, the block index takes a bit to load. if you start clicking it a bunch and then you force it to quit, as with anything, you may end up corrupting data.

[calebepaz]

I found interesting xvg, I'll study a little more about it, sorry my English is Brazilian and I'm going to make an investment in xvg.

[Dogedarkdev]

I would appreciate if the devs can work on improving the wallet, the XVG wallet is the only wallet I use that takes ~15 minutes just to open. Then it syncs extremely slow, just like 1 block per 10 seconds. So just to sync from 24 hours takes several hours. This is on a top end desktop (Ryzen with 16 GB of RAM and SSD).

if you didn't notice, that's on our roadmap. new core release is alot faster. stay tuned. july isn't over yet.

(you should use our electrum tor wallet though, it doesn't require syncing at all.)

[berto23]

Can somebody tell me what went wrong here. I had three transactions in my paper wallet and I decided to import the private key to the desktop wallet. Only 1 out of 3 transactions reflected on my core wallet. When I check in the block explorer of the desktop wallet, it shows that the fee is equivalent to the deposit amount, how is that possible?
https://i.imgur.com/EKuigkt.png

Can somebody explain what happened?

[Dogedarkdev]

Can somebody tell me what went wrong here. I had three transactions in my paper wallet and I decided to import the private key to the desktop wallet. Only 1 out of 3 transactions reflected on my core wallet. When I check in the block explorer of the desktop wallet, it shows that the fee is equivalent to the deposit amount, how is that possible?

Can somebody explain what happened?

that looks like a change address. all of the transactions you sent to the paper wallet address should be reflected in your core wallet after importing the private key from your paper wallet though.

if you want help, you should post the addresses and transaction id's here, so they can be easily copied/pasted into the blockchain explorers.

[zainblaze]

IS there any benefit for long-term Verge holders?

I mean, something like stake/masternodes/harvest/fees/revenue

Can I actually gain something from keeping XVG's on my wallet?

hodling has it's own advantages/disadvantages. our shop opens up soon and will be accepting xvg.

we dont have masternodes, because it's a network weakness/centralization point. we can/may incorporate PoS one day, if we can come up with a fair system, that doesnt reward by amount in balance, but a flat reward that is fair. we'll see. right now our multi algo mining is fine though.

What about adding POS as another algo? 

Also Clams does POS and the reward is 1 clam per block.  You do have a higher chance of staking a block with more coins, but the reward is fixed.  You would also have control over the minimum stake age, so folks would have to commit holding coins for x amount of time before they can stake.  <- has the feel of locking coins in a masternode, without an actual mastermode. 

the type of PoS i have in mind, is something similar, but with an extraordinarily low reward. maybe something like .001 per block, so that there would be no way to take advantage of it. this way the PoS would be more voluntarily than "for profit".

Genius

[shannen87]

Is it safe to store my Verge on coinomi wallet? or Electrum?

[Dogedarkdev]

Is it safe to store my Verge on coinomi wallet? or Electrum?

sure.

[NextLevel]

Hi,

I'm new to linux and dont get the qt wallet and electrum wallet of XVG working. Im working on Mint-18 64 bit based on ubuntu 16.04 and have the following situation:

- If I double click the 'VERGE-qt' file nothing happens.
- If I double click and run the 'electrum-xvg' file in the electrum-xvg-master folder nothing happens.

if I follow the installation instructions from the readme file I get an error after typing in this:

sudo pip install pyasn1 pyasn1-modules pbkdf2 tlslite qrcode

Error: "Could not find a version that satisfies the requirement upgrade (from versions: )
No matching distribution found for upgrade"

The electrum and qt wallets from other coins are working fine though. Any thoughts?