Definitely Vertcoin is an interesting proposal, but any PoW algorithm implemented by software can be implemented by hardware. Only would be to include the number of scrypt N-rounds according to hardcoded timestamps (not even clock function would be necessary) in the ASIC circuit. It should not be very complex once scrypt ASIC was done. I do not want to diminish the merit of the excellent vertcoin start with this, it is just a simple informed opinion. However, it could be implemented in Bitgem, not too difficult.
About bitgem, I suppose there is a logical correction in prices, on the basis that the purchase price for a portion of Bitgem holders was around 0.001, and 0.04 purchasers wanted to consolidate gains in 0006-0007. No reason to worry, that is the normal behavior in the markets.
BTW, Bitgem sending is still in progress.
Can you please tell a little bit more about this ASIC protection stuff. I mean for non-technical guys
. Also I think that implementation of n-factor will be suitable on this stage and nearly sure, that community will find enough BTG for bounty to the author. For my mind it is not the question of some "iron1000%defence" but staying on the top of the wave of crypto's technical modernization.
Finally about the price. The crypto market is as you definitely know is pure speculative. Right now it is over-heated. But the main purpose is following - people are trying to make money on pumps and dumps and they need nearly all their assets to be free. It is a nightmare for commods like BTG or CGB but it is as it is. Even theoretically it cannot be solved with regulaton,
only in case of 100% premined coins (it is one of the reasons why they are working right now). The next move in general is obvious - miners cannot forever sell to themselves new coins quickly running into the time when Scrypt-crypto will be a swearword. So keep up the good job dev, there will be a huge amount of possibilities in future. And please remember that two different psychology types involved in any crypto pretending to be a "storage device" (speculates and hoarder-hamsters) will make your gems to be volatile for months until (if) they will be gathered in hands of the settled owners. As a prove you can see that all (sic! all) high value coins of today are either super-concentrated (BTC, LTC, Quark) or distributed like Ripple or NXT. Today people absolutely do not understand that success of the asset they hold here depends on their selves. But public was a moron in season and out of season
P.S. Dadon hope you are not looking for a pump here to sell your BTG, ah
. You must understand one simple thing, 3 "cryptocommoditys" as you call them on todays market is far too much. You are talking about fiat, but you have forgotten, that fiat itself is a negative, inflationary credit and cryptos are deflationary mostly. Yes, that was a ingenious idea to make a crypto backed with gold - but you know what happened to the author of this idea
. It is like obligations in real world, last line, there must be a big developed world in front. And we have only doge in front.
If you want me to explain it literally it will be something like "the overall crypto market development and sustainability together with the lack of the range of technologies applied-)))". And all are trembling like in a fever.
N-factor parameterization involves rounds scrypt made by the algorithm. Scrypts current coins run 1,024 rounds. Vertcoin begins with 2048 according to this table, but it would be possible (and easy to implement, from a feasible Scrypt ASIC) to have a parameterizable ASIC Scrypt by hardcoding the timestamps shown in the table. Meanwhile, the time between updates of N-factor is logarithmic, which is 1.1 years until the next update N = 8192, 1.4 years for N = 16,384, 2.8 years for N=65536 and so. For example, in year 2022, coin will stay with N = 32768 for over 6 years until 2028, so, if ASIC is not reached yet, people in 2022 will have six years to build an ASIC with the technology of year 2022. Obviously, this assumption is not realistic.
Vertcoin has been an astute launch, but the assumption of ASIC resistivity is very limited.
| N | Memory | Timestamp | Date/Time | |
|----------|--------|-------------|-------------------------------|---|
| 2048 | 256 kB | 1389306217 | Thu, 09 Jan 2014 22:23:37 GMT | |
| 4096 | 512 kB | 1456415081 | Thu, 25 Feb 2016 15:44:41 GMT | |
| 8192 | 1 MB | 1506746729 | Sat, 30 Sep 2017 04:45:29 GMT | |
| 16384 | 2 MB | 1557078377 | Sun, 05 May 2019 17:46:17 GMT | |
| 32768 | 4 MB | 1657741673 | Wed, 13 Jul 2022 19:47:53 GMT | |
| 65536 | 8 MB | 1859068265 | Tue, 28 Nov 2028 23:51:05 GMT | |
| 131072 | 16 MB | 2060394857 | Tue, 17 Apr 2035 03:54:17 GMT | |
| 262144 | 32 MB | 2463048041 | Sun, 19 Jan 2048 12:00:41 GMT | |
| 524288 | 64 MB | 2999918953 | Fri, 23 Jan 2065 06:49:13 GMT | |
| 1048576 | 128 MB | 3536789865 | Wed, 28 Jan 2082 01:37:45 GMT | |
| 2097152 | 256 MB | 5684273513 | Mon, 16 Feb 2150 04:51:53 GMT | |
| 4194304 | 512 MB | 7831757161 | Sat, 07 Mar 2218 08:06:01 GMT | |
| 8388608 | 1 GB | 9979240809 | Thu, 25 Mar 2286 11:20:09 GMT | |
| 16777216 | 2 GB | 16421691753 | Fri, 19 May 2490 21:02:33 GMT | |
| 33554432 | 4 GB | 22864142697 | Sun, 15 Jul 2694 06:44:57 GMT | |
