Vertcoin - First Scrypt N | First Stealth Address - Privacy without mixer

[nonny12]

right but if this goes on like this... vtc will be at 1 sat before fpga miners arrive...

too bad how those dev guys behave.

the stealth address info made vtc pump to 0.0015 and after that it is going DOWN.

i remember someone talking about VTC considering skein algo. But all those issues should be mentioned heret too.

lets see what happens in the next two weeks.

Everyone is talking about new featureS, but stealth addresses are the one and only thing confirmed.

We have been warning people about this for over 2 months now. at .0015 , you need 50 BTC / DAY of "new BTC" every day just to stabilize the coin. That is not realistic for a coin like VTC. Coins that are "hotter" than this are barely getting 50-200 BTC range per day.

2 years ago people were not aware of inflation but right now everyone is and until VTC halve once or twice nobody that is sane is going to invest much in this as in 1 year from now there is going to be 300% more coins maybe and my investment will have been cute in 1/4th.

Most PoS even if they are trash are stablizing and all PoW are going to the ground and burning in flames. I LOVE VTC but. you know...

Could you explain please why you need 50 BTC / day at 0.0015 price to avoid inflation and why the investment will be 1/4th if the 50 BTC/day doesn't happen?

It's a simplified view of things as a whole, but also a useful calculation to make. Simply put, there are 28,800 new VTC minted every day. If the current price of Vertcoin is 0.0015 AND every miner dumped ALL coins they mined, 43.2 BTC would need to enter the Vertcoin market in order to keep the price at 0.0015.

I say 'oversimplified' because most miners do not dump all of the coins they mine.

Coins mined per day = (24 hours * 60 minutes * 50 VTC per block) / Block Time in minutes = 28,800
BTC needed per day = 28,800 * current VTC price = 28,800 * 0.0015 = 43.2 BTC

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[xingqiaoyin]

well... June will end in one week, so lets see what happens then.

To me this whole story reminds me the death of Mazacoin. An "active" dev team with "great" ideas didnt catch up and so it died.

0.001 is the threshold... now we are heading to 0.0005 (next threshold). Everything under this value equals DEATH.

less than 6btc left to reach 0.00053 on MP.

The depth chart looks like a death penalty.

Really ? Have you heard of dogecoin ?  

[turtoro]

well i am holding and constantly buying... but right now i stopped, cause i am ready to see 0.0005 soon(perhaps mid of next week).

lets face the truth.

I m sure it will go down a bit further for the next week , but if what i hope to see happen does happen with the upcoming announcements, there will be a re aligning of mead price value to a substantially higher level.

[Jiggy0001]

What we see is just concerning..

MP has a 24vol of almost 20BTC... Bittrex removed MON btw. What will happen when VTC is next?

[dvdemecillo]

every 24 hours 28800VTC are being created(correct me when i am wrong).

when you want to sustain a price at 0.0015 you will have to flood more than 40btc into the market to catch up with that inflation.

and you can be sure that miners are dropping their VTC directly to the exchanges.

are you a miner? are you mining vtc currently? how much is the power rate where you are at? i'm mining vtc currently. i'm paying 0.21 $/Kwh and so i'm mining at a loss. just like pretty much anyone mining vtc right now. that is, if we mine and dump as you claimed. but only a fool would do that and only a bigger fool would claim such.

the price is falling yet the difficulty remains pretty much the same. that tells you that miners are still hashing. we're mining for what's to come and not for daily profit because there is none to be had right now. you would know this if you are a miner. that ~6-7Ghs network hashrate is pure belief, faith in the coin. if that doesn't give you confidence then nothing can.

[nonny12]

Jiggy... we can look those things up easily ourselves. Stop spreading FUD.

[styxical]

It is disturbing to read that adjusting coin minting rate is open to discussion. How would this be fairly achieved? Why would someone invest in our coin if we are arbitrarily adjusting network parameters to suit ourselves?

[Lucky - Luciano]

What we see is just concerning..

MP has a 24vol of almost 20BTC... Bittrex removed MON btw. What will happen when VTC is next?

  I think you've gone too far. Coin as Vertcoin can not die. This is just a passing crisis. Bittrex is removed parallaxcoin. However, the price is on the Poloniex increased significantly: https://www.poloniex.com/exchange/btc_plx

[Jiggy0001]

i pointed out June 11th because it was the day when SX was announced... As you can see this announcement already had its "impact"...

so what are we coming up next with?

MON is on the list of coins being removed soooon.

i mean as a VTC holder i am not interested in FUD, but i want to keep this discussion alive, because it seems otherwise there won't be any interest in this coin.

[duncan_idaho]

I believe in vtc. Currently i mine other coins. I make profit from them. Arround 200%-400% in short. Then ... I buy this nice cheap VTC

[mig5000]

every 24 hours 28800VTC are being created(correct me when i am wrong).

when you want to sustain a price at 0.0015 you will have to flood more than 40btc into the market to catch up with that inflation.

and you can be sure that miners are dropping their VTC directly to the exchanges.

are you a miner? are you mining vtc currently? how much is the power rate where you are at? i'm mining vtc currently. i'm paying 0.21 $/Kwh and so i'm mining at a loss. just like pretty much anyone mining vtc right now. that is, if we mine and dump as you claimed. but only a fool would do that and only a bigger fool would claim such.

the price is falling yet the difficulty remains pretty much the same. that tells you that miners are still hashing. we're mining for what's to come and not for daily profit because there is none to be had right now. you would know this if you are a miner. that ~6-7Ghs network hashrate is pure belief, faith in the coin. if that doesn't give you confidence then nothing can.

That's false. Even if I have been deadly with my inflation concerns, I'm still mining vertcoin as my electricity cost is 0.07$/kwh. VTC is still one of the most profitable coin to mine despite it's steady decline.

Contrary to the scrypt coin who are less profitable because of asics mainly and difficulty jumps, VTC is less profitable than it was because of it's high inflation.

And for those who think market cap is the same it's also totally false as Vertcoin had a 4M+ market cap 2 month ago with a BTC ~450$ USD, now it's barely 3M with a BTC of 600$. Vertcoin LOST a LOT. IF the BTC drops to 450$ again our market valuation is going to be 2.25 M!! About half what it was 2 months ago ~

Something HAS to be done or we won't stabilize :/

 

[mig5000]

Also a point worth nothing is that no real big investor wants in at this point, all small ball investor. If you go through any buy order book you won't see much order of .25 btc spread here and there, there is literally no buy pressure, almost no white candles in the graph. At this rate we are going to meet .0005 before the end of next week :/

[mig5000]

It is disturbing to read that adjusting coin minting rate is open to discussion. How would this be fairly achieved? Why would someone invest in our coin if we are arbitrarily adjusting network parameters to suit ourselves?

Lol ? If the business model you have is not working I do hope that you are going to rethink it for your investors.

Miners are so short sighted when it comes to reward. This coin is as good as dead if nothing is done. You can have the best dev ever but w/o a PR team AND a good financial structure, it's worthless.

Printing coins for 40 years was successfully done by BTC and to a lesser extent LTC when their was NO competition.

[Jiggy0001]

as we speak VTC is simply melting 

[turtoro]

It is disturbing to read that adjusting coin minting rate is open to discussion. How would this be fairly achieved? Why would someone invest in our coin if we are arbitrarily adjusting network parameters to suit ourselves?

I see it (discussions) as a positive step to fix something that is inherently flawed from the beginning. Having said this, if it is done at all, you are absolutely correct; it has to be thought out very carefully and done right. But the discussion is good.

[tng811]

We have said, we never want money, but we are thinking about PR.
As you can see, when Vertcoin release alpha testing on SX, no one knows about it. Someone is still thinking it is a coinjoin or another form of Darksend. Someone still doesn't know what is SX. Why is better than other ? Why they should care ?

I mean when Devs have done something, and other people don't know, that's kind of discourage.

We hear you and we believe you are not after money for your great work and vision for Vertcoin.  The community draws many benefits from your kindness and we are thankful to you.  The problem with the market and the public in general, is that they are too busy and too 'layman' to understand that.  Most of us are busy with our day-to-day work and our family life that we hardly have the time to read up and follow the development in the forum threads.  And on and off, some of us would have doubts about whether the Vertcoin developers are being properly paid and can substain their work without pay.  It becomes a confidence issue.  And as it turns up, the public's confidence takes a nose dive when they perceive that the Vertcoin team is no longer answering questions.  Well, in reality it is not true as the dev team is busy with implementing Stealth Address.  BUT the perception, or rather the misperception is there and it spreads like fire.  We need to address this misperception and (lack of) confidence issues.

The Devs have done GREAT WORK and other people don't know. Well, it is true and I bet it will continue to be true until we address the root cause - the public are 'layman', and they are busy laymen with little time to read up and followup things.  SO we need to _constantly and repeatedly communicate out_ the wonderful work of the Vertcoin team and why is SX better, more superior and more appropriate for the mainstream users.  All these GREAT WORK of the Devs and communications need lots of time and efforts to make it successful.  Time and efforts in this modern world unfortunately usually equate to money.  (Hey we all need to pay bills and have our life don't we?)

It is really better for the Dev team to accept donations from the community.  If we are to do the communication right, say getting a PR or a PR team, we need MONEY to do that too.  Donations on an adhoc basis is likely not going to work.  I believe we need a way that can substain for the long haul.  We need to appoint someone from the community to lead this - raise money through regular fund-raising activities and get the right PR people to do the job - talking to the Devs and publishing PR articles/videos/other media in a way where a layman can understand.  What do you think?

This is exactly what Vertcoin needs.

[Vertcoin]

We have said, we never want money, but we are thinking about PR.
As you can see, when Vertcoin release alpha testing on SX, no one knows about it. Someone is still thinking it is a coinjoin or another form of Darksend. Someone still doesn't know what is SX. Why is better than other ? Why they should care ?

I mean when Devs have done something, and other people don't know, that's kind of discourage.

We hear you and we believe you are not after money for your great work and vision for Vertcoin.  The community draws many benefits from your kindness and we are thankful to you.  The problem with the market and the public in general, is that they are too busy and too 'layman' to understand that.  Most of us are busy with our day-to-day work and our family life that we hardly have the time to read up and follow the development in the forum threads.  And on and off, some of us would have doubts about whether the Vertcoin developers are being properly paid and can substain their work without pay.  It becomes a confidence issue.  And as it turns up, the public's confidence takes a nose dive when they perceive that the Vertcoin team is no longer answering questions.  Well, in reality it is not true as the dev team is busy with implementing Stealth Address.  BUT the perception, or rather the misperception is there and it spreads like fire.  We need to address this misperception and (lack of) confidence issues.

The Devs have done GREAT WORK and other people don't know. Well, it is true and I bet it will continue to be true until we address the root cause - the public are 'layman', and they are busy laymen with little time to read up and followup things.  SO we need to _constantly and repeatedly communicate out_ the wonderful work of the Vertcoin team and why is SX better, more superior and more appropriate for the mainstream users.  All these GREAT WORK of the Devs and communications need lots of time and efforts to make it successful.  Time and efforts in this modern world unfortunately usually equate to money.  (Hey we all need to pay bills and have our life don't we?)

It is really better for the Dev team to accept donations from the community.  If we are to do the communication right, say getting a PR or a PR team, we need MONEY to do that too.  Donations on an adhoc basis is likely not going to work.  I believe we need a way that can substain for the long haul.  We need to appoint someone from the community to lead this - raise money through regular fund-raising activities and get the right PR people to do the job - talking to the Devs and publishing PR articles/videos/other media in a way where a layman can understand.  What do you think?

This is exactly what Vertcoin needs.

I agree with you. After release SX, I will talk about this issues with team again.
Thank you for enlighten me.

[BBristow79]

Everyone. Please stop feeding the trolls spreading FUD. You know who they are. Nothing can be said or done to change their point of view. Ignoring them is truly the only way to be done with them. I really wish we could ban people.

[RJMcSherry]

To say the least... This price slide is painful and embarrassing :-(

[mig5000]

Everyone. Please stop feeding the trolls spreading FUD. You know who they are. Nothing can be said or done to change their point of view. Ignoring them is truly the only way to be done with them. I really wish we could ban people.

Spreading FUD ? Who said Vertcoin is technologically flawed or sucks ? Around 1980 we had inflation of 15-30% and it was unsustainable and it crashed hard. The PoW coins have inflation 20x that!