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

[Jiggy0001]

I just backdated all the way back to mid-May going through over the last 100 pages in this thread and it is the same 5 people (no more than 6 people) spreading that inflation is the culprit of vertcoin decrease in value. But there is much more to it from gathering information from various sources.

Most here don't care about the price of VTC because they simply are just miners dumping to ROI and VTC despite our rambling is still one of the best coin to ROI your GPUs. I used to mine VTC for the past 4 month and the way thing are going VTC should be dead in 6 months from now.

DEV should not simply change the VTC reward to be static. They should make it DYNAMIC. Having a static reward is bad.


Right now inflation is 14 BTC if market was to reach 29M , let's say, the inflation would be 15x what it is now which would be 210 BTC. You would need 210 BTC EVERY DAY just to maintain the price to what it would be. The market would then be around 47 000 BTC with a yearly inflation of 76 000 BTC. close to 200% that's non sense.

Meanwhile, right now DRK has a market cap of 47 000 BTC and an inflation of 30 BTC/day, so DRK inflation is ~11000/47000 ~ 23% that's still a lot of inflation but much less than what VTC has for the next 4-8 years.

Even if they cut their reward in half it's still going to be bad inflation but a bit later this time but inflation nonetheless

What this means for investor is between now and 1 year from now if you invest 1BTC it will be cut in 3 as you will have only 1 BTC out of ~150 000 BTC instead of 1 BTC in ~47000. You see this phenomena in all PoW coins with static block reward...

Imo inflation should be way lower than this, it should be function of the difficulty which is almost always function of the market cap and etc. I have 0 VTC right now and don't plan on adding any for a good while as vertans are aggresive toward potential investors only. There is enough competition in this market to invest my money elsewhere and the market seems to think as I do right now. It's up to these guys to do something.

Just my 2cents as usual but with how Othe thinks and talks I am mostly done with this tbh. I'd rather put my time and efforts into finding a solution where it's needed and welcomed.

i have a lot of respect for your effort of making this clear and proving it with some math, but Othe is living in his own world.

Next week will prove you´re right and the whole market will vanish.

[1714624714]

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[1714624714]

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[silencesilence]

Smart people mining and buy at lower levels 

"difficulty" : 150.06762317,

In most cases, when raise the price ... then include many new miners,  but it was too late for that - always so obtained 

[pseudofx]

Mig and Jig,

The vertcoin community and the development team are aware that vertcoin inflation may be an issue and is taken seriously at this time. Please don't feel that the community is not listening and your inputs are taken into consideration. This is why the development team have brought this concern to the public and are doing their best to find a resolution. In addition, to constantly abuse the community for over a month does not speed up the process, nor does it make your argument any better.

[DogTheHunter]

Mig and Jig,

The vertcoin community and the development team are aware that vertcoin inflation may be an issue and is taken seriously at this time. Please don't feel that the community is not listening and your inputs are taken into consideration. This is why the development team have brought this concern to the public and are doing their best to find a resolution. In addition, to constantly abuse the community for over a month does not speed up the process, nor does it make your argument any better.

MaxCoin played with their coin supply, from memory. It didn't do them any good the way they went about it.

I think you need to consider the mining algo first. Vert is supposed to be ASIC free, but GPU friendly?

Well, rather than just having a halving, why not make coin supply reduce steadily, and introduce algo change hard forks every 2-3 years. That would impact ASIC ROI if they were ever introduced. Then look at some energy efficient algo or group of them.

I've been reading up on darkcoin and how they are going to change the way they handle forks. They are introducing a way to reduce the impact of forks if they don't go very well. Go and ask them for some intel.

[reinmar532]

I think month is enough to come up with some solution. It doesn't need to be perfect but it need to be done now. We can always make another fork in 1-2 months to tweak some parameters. I think it's better than dropping to 0.0001.

And one important thing. People doesn't care about mining algorithm, premine or instamine. Only thing that matter is price. Price increase will result in steady increase of miners and investors.

[DogTheHunter]

I think month is enough to come up with some solution. It doesn't need to be perfect but it need to be done now. We can always make another fork in 1-2 months to tweak some parameters. I think it's better than dropping to 0.0001.

And one important thing. People doesn't care about mining algorithm, premine or instamine. Only thing that matter is price. Price increase will result in steady increase of miners and investors.

The do if they can't mine cheaply. some of the energy efficient algo's make a big difference in electricity costs. But if the coin is doing well, then you are right it doesn't matter - unless it is scrypt. That is hard work, costs a lot and needs plenty of ventilation, air con and work.

If something could be announced sooner rather than later, that would be helpful to the value of the coins I just bought.

[pseudofx]

Hi DogTheHunter and reinmar532,

It would be great to have your inputs here as well: http://www.reddit.com/r/vertcoin/comments/2aav7b/tweaking_vertcoin_inflation/

Thanks!

[styxical]

First of all, othe, I'm sorry you are being constantly abused. You guys are doing a great thing here and I, for one, appreciate your time spent. Jiggy et al need to fuck off.

To those screaming to change algorithm: the algorithm is meant to resist ASICs and mining centralization. As of right now, scrypt-n is the only algorithm (that I know of?) that accomplishes this. FPGAs can be programmed to mine on x11 or x13 or, presumably, x15. This is bad and it's against our ethos. Also consider: x11 runs really cool because it doesn't maximize the GPU potential. Go look at the history of updates for the x11 miner and notice how each update they get more efficient? This is bad because maybe some people from day one (maybe the dev?) already had the most advanced miner? It leads to unfair distribution. If you think your rigs are running too hot, you can turn down the intensity to consume less power. This is preferable to wasting our "tricks up the sleeve" to dodge ASICs on our network.

To those screaming to cut block reward in half or more: go look at DRK. Their price shot up temporarily, but now look at it? Without demand for the coin the price will fall no matter what you do.

The best thing we can do right now is to increase awareness. You want to see your investment be successful? Go spend some of your own cash and run an ad somewhere. Go to the nearest rooftop and shout your lungs out. Run an ad in your newspaper. Write a bot to post ads to craigslist. Put the vertcoin logo on a fucking spotlight batman-summoning style. Do something constructive rather than abusing other members of the community.

[Jiggy0001]

First of all, othe, I'm sorry you are being constantly abused. You guys are doing a great thing here and I, for one, appreciate your time spent. Jiggy et al need to fuck off.

To those screaming to change algorithm: the algorithm is meant to resist ASICs and mining centralization. As of right now, scrypt-n is the only algorithm (that I know of?) that accomplishes this. FPGAs can be programmed to mine on x11 or x13 or, presumably, x15. This is bad and it's against our ethos. Also consider: x11 runs really cool because it doesn't maximize the GPU potential. Go look at the history of updates for the x11 miner and notice how each update they get more efficient? This is bad because maybe some people from day one (maybe the dev?) already had the most advanced miner? It leads to unfair distribution. If you think your rigs are running too hot, you can turn down the intensity to consume less power. This is preferable to wasting our "tricks up the sleeve" to dodge ASICs on our network.

To those screaming to cut block reward in half or more: go look at DRK. Their price shot up temporarily, but now look at it? Without demand for the coin the price will fall no matter what you do.

The best thing we can do right now is to increase awareness. You want to see your investment be successful? Go spend some of your own cash and run an ad somewhere. Go to the nearest rooftop and shout your lungs out. Run an ad in your newspaper. Write a bot to post ads to craigslist. Put the vertcoin logo on a fucking spotlight batman-summoning style. Do something constructive rather than abusing other members of the community.

hey little girl... someone has to hug you, right?

[WHaze]

@styxical I totally agree with you !

Thanks to the devs, fuck Jiggy0001.


@Jiggy: get a life or go mine another coin. You made your point clear many times, nobody is interested. Please stop spamming and GO AWAY, you are not welcome.

[Jiggy0001]

@styxical I totally agree with you !

Thanks to the devs, fuck Jiggy0001.


@Jiggy: get a life or go mine another coin. You made your point clear many times, nobody is interested. Please stop spamming and GO AWAY, you are not welcome.

i guess i don't have to listen to a piece of shit like you are...

it seems like you are one of those who enjoy mining and dumping VTC, so we are talking from totally different perspectives. i don't mine...

[WHaze]

My friend, you are the only piece of shit here, you've been told many many times that what you want won't happen but you stille come back to piss us off.

Go on vacations or something, forget about cryptos for a while.

Well, if you don't mine, you made a decision knowing the risks so stop trying to change the rules in the middle of the game. Either you can control yourself and hold, either you sell and bye bye. Make a choice and stop bothering everyone because you made a mistake.

[jwinterm]

@styxical I totally agree with you !

Thanks to the devs, fuck Jiggy0001.


@Jiggy: get a life or go mine another coin. You made your point clear many times, nobody is interested. Please stop spamming and GO AWAY, you are not welcome.

i guess i don't have to listen to a piece of shit like you are...

You said you were leaving:

But for me this story is over now...

Tired of buying and catching thousands of knives over the past few weeks...

Why don't you listen to yourself you annoying bastard? You're probably on here bitching every five minutes over a total of 50 vtc or something. Or is someone paying you to constantly troll here? I can't think of another legitimate reason: either you're 11 years old and pissed you lost $20 due to your own incompetence at "investing", or someone is paying you to professionally troll.

[Jiggy0001]

My friend, you are the only piece of shit here, you've been told many many times that what you want won't happen but you stille come back to piss us off.

Go on vacations or something, forget about cryptos for a while.

Do you even read all comments, before you start to jerk your shit off?

I am addressing my concerns to the already mentioned adjustments to the coin.

Why the hell shall i listen to a guy that is mining VTC for only one reason? Whose interest is the short term profit to pay his bills, lol.

[Jiggy0001]

@styxical I totally agree with you !

Thanks to the devs, fuck Jiggy0001.


@Jiggy: get a life or go mine another coin. You made your point clear many times, nobody is interested. Please stop spamming and GO AWAY, you are not welcome.

i guess i don't have to listen to a piece of shit like you are...

You said you were leaving:

But for me this story is over now...

Tired of buying and catching thousands of knives over the past few weeks...

Why don't you listen to yourself you annoying bastard? You're probably on here bitching every five minutes over a total of 50 vtc or something. Or is someone paying you to constantly troll here? I can't think of another legitimate reason: either you're 11 years old and pissed you lost $20 due to your own incompetence at "investing", or someone is paying you to professionally troll.

man, it is simply amusing how incompetent people are... you at least admit that VTC is a bad investment 

[WHaze]

@jwinterm, I'm voting for angry 12 years old who invested the money he had for his bicyle in cryptos :p

@Jiggy, why would you think i mine and dump? You are making very quick and stupid deductions.
To make a good invetment in cryptos you need luck or balls of steel, seems to me you have none of these.

[Jiggy0001]

@Jiggy, why would you think i mine and dump? You are making very quick and stupid deductions.

same as you do...

yeah it is time to ignore stupid offenses. i don't  care about idiots that cannot understand the problem.

At least there are some smart guys here that even try to show you the figures and explain that we have a certain problem.

Of course i won't dump my whole bag at once. 50VTC are way too much  

i am just wondering how offensive you are in a discussion that many traders understand, but you seem to live in a wonderland ignoring the some facts.

Sum up is:

Devs don't want to change anything right now, because they don't have the perfect solution.
But in the meanwhile we see VTC drop and break new thresholds.
In case they come up with new adjustments, no one can guarantee you that it will work.

So in either way we are not moving forward, but risking more damage.

And for those who claim to be more active in promoting the coin... well. i did and i have been doing so, thats why i am complaining.

maybe you are right, it might be better to stay away from VTC for the near future.

[WHaze]

We have a problem, we can agree on that, but your solution is just horse shit, it will only make things worse.

You have been trolling here for weeks (months? i'm too lazy to check), don't you think it's enough?

If you think people are so stupid, why don't you leave?? IMO you are the stupid one as you stay here even if you think we are stupid.

Stupid people won't listen to you, so if I follow you the coin decline is inevitable. --> Only one solution: GET THE HELL OUT (and never come back).

edit: you are wrong, if we don't do anything right nom the coin may decline a little more, but if we act on the spot we may kill the coin. I'd rather do nothing for now and wait for a better solution. Also, summer has never been a great season for cryptos and many are declining so the problem may not be specific to VTC.

[Jiggy0001]

We have a problem, we can agree on that, but your solution is just horse shit, it will only make things worse.

You have been trolling here for weeks (months? i'm too lazy to check), don't you think it's enough?

If you think people are so stupid, why don't you leave?? IMO you are the stupid one as you stay here even if you think we are stupid.

Stupid people won't listen to you, so if I follow you the coin decline is inevitable. --> Only one solution: GET THE HELL OUT (and never come back).

forum warriors... i love them... how old are you?

well if saying/predicting the truth is trolling then you might be suffering from brain cancer?

do you really think that i am responsible for the price that we are seeing now?

[reinmar532]

Maybe cutting block reward to 25VTC isn't perfect but when we will combine it with "Shark Bite" it will give us at least few months to invent sth better.