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

[CSM00]

I think we need something useful to do with the coins or is that further down the road.  just holding or trading is great but the value doesnt increase if theres nothing else to be done with them no matter how fantastic N factor is.

That applies to pretty much every coin created since Bitcoin (excepting DTC and NMC, maybe a few others).  Litecoin's main reason to exist at the time was to be GPU then ASIC resistant.  Technology caught up.  VTC in a lot of ways of a fine-tuning of the original Litecoin.

Vertcoin seems to bring combo of ASIC and multipool resistance - ASIC so that the network stays distributed and secure vs the central control that ASICs are bringing to Bitcoin.  Total hashpower is grow 30% or so each diff jump, but the number of individuals participating shrinks as the barrier to entry gets higher.  

Multipools pretty much crush any Scrypt-based alt into a difficulty pit that is hard to climb out over and over again, resulting in crazy long block times, which makes the coins unusable for people actually wanting to utilize them for commerce.

CPU-only coins sound great until one realizes that they end up being botnet coins which almost no one can profitably mine legally.  

Those three things, while not exciting, are definitely things that any new crypto needs to address.  VTC is pretty timely in that respect.

Is Vertcoin some revolutionary change to cryptocurrency?  No.  Is it taking lessons learned over the last 5 years of what works and what doesnt?  I'd say yes, with the caveat that a faster adjusting diff would have made a better coin, albeit less profitable and harder to get started.

[1715012619]

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[1715012619]

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[blacklig]

- I don't know if it's possible, but could this be made to work with CGMiner somehow? I'd much rather download something to add to my CGMiner, or download a modified CGMiner that i can specify VTC mining (something like using "vert" instead of "scrypt" in kernel config...i dunno).

I think It's already implemented in main cgminer branch. Use -scrypt:2048

regards

Is it? Can you use cgminer 3.7.2 and just write scrypt:2048 and it will mine vert?? I am using modified cgminer which is on first page here.. Can performance differ?
Anyway, wert is superb coin.. I love it.. such good feeling knowing that f*****g ASICs wont dominate at least this coin.. mmm

[blacklig]

I think we need something useful to do with the coins or is that further down the road.  just holding or trading is great but the value doesnt increase if theres nothing else to be done with them no matter how fantastic N factor is.

That applies to pretty much every coin created since Bitcoin (excepting DTC and NMC, maybe a few others).  Litecoin's main reason to exist at the time was to be GPU then ASIC resistant.  Technology caught up.  VTC in a lot of ways of a fine-tuning of the original Litecoin.

Vertcoin seems to bring combo of ASIC and multipool resistance - ASIC so that the network stays distributed and secure vs the central control that ASICs are bringing to Bitcoin.  Total hashpower is grow 30% or so each diff jump, but the number of individuals participating shrinks as the barrier to entry gets higher.  

Multipools pretty much crush any Scrypt-based alt into a difficulty pit that is hard to climb out over and over again, resulting in crazy long block times, which makes the coins unusable for people actually wanting to utilize them for commerce.

CPU-only coins sound great until one realizes that they end up being botnet coins which almost no one can profitably mine legally.  

Those three things, while not exciting, are definitely things that any new crypto needs to address.  VTC is pretty timely in that respect.

Is Vertcoin some revolutionary change to cryptocurrency?  No.  Is it taking lessons learned over the last 5 years of what works and what doesnt?  I'd say yes, with the caveat that a faster adjusting diff would have made a better coin, albeit less profitable and harder to get started.

Wow, that is fantastic post!

But how do you know multipools wont dominate this?
Only because you cant run one cgminer that will mine scrypt and this modif scrypt in one application? So mabye having 2 cgminers turned on which will be both connected to same pool which turns of scrypt and turns on vert, and then back would work?

[mousebat]

To anyone who wants to quickly hack BAMT to use vertminer do this as root:

Code:

git clone https://github.com/Bufius/vertminer-gpu.git /tmp/vertminer
cd /tmp/vertminer
./buildit.sh
cp -R /tmp/vertminer /opt/miners/vertminer
cp /opt/miners/cgminer/ADL_SDK/* /opt/miners/vertminer/ADL_SDK/

Then create your vertminer.conf file in /etc/bamt/

Now edit /opt/bamt/gpumon...

Modify the IF loop around line 374-ish like so:

Code:

if (${$conf}{'gpu'.$key}{'cgminer'})
{
        ## MODIFIED FOR VERTMINER! 
        # system("screen -r cgminer");
         system("screen -r vertminer");
}

Then edit /opt/bamt/common.pl...

Modify the ELSIF loop around line 960 like so:

Code:

elsif ($pid == 0)
{
        $ENV{DISPLAY} = ":0";
        $ENV{LD_LIBRARY_PATH} = "/opt/AMD-APP-SDK-v2.4-lnx32/lib/x86/:";
        $ENV{GPU_USE_SYNC_OBJECTS} = "1";

        ## MODIFIED FOR VERTMINER! 
        # my $cmd = "cd /opt/miners/cgminer;/usr/bin/screen -d -m -S cgminer /opt/miners/cgminer/cgminer $args"; 
        my $cmd = "cd /opt/miners/vertminer;/usr/bin/screen -d -m -S vertminer /opt/miners/vertminer/vertminer $args";

Restart your miners and you should be using vertminer.

I'm now in the middle of creating my own ubuntu 13.10 live distro which includes BAMT and is dedicated for vertcoin - will start a thread when I get a chance.

If this was helpful to anyone hit me up with some LTC or VTC - I'm poor 
V: Vo49uyrJdQaYzpygauqw5WBgPTMyfN6sGP
L: Lewz5683RUKfSidU7rofN6bheiqYafNU7S

xx

MB

[gonzzo]

We need to get this coin on more exchanges, just need some time I guess.

Just some random fly-by observer thoughts:

This coin is really compelling, it's a nice evolution of the scrypt clones we've had lately. Some thoughtful development went into it. It's got a lot of the things going for it that should make it a popular coin.

But it suffers from community size, promotion and lack of pool acceptance (due to how the coin works I would guess).

Some things that it would benefit from would be:

- Devs getting it onto more pools. Maybe offer them a bounty or something to get it on something like Nut2, Dedicated Pools or any of the other moderately sized pools that are active in alt-coin mining.

- Get it on CoinEX or CoinmarketIO. The attention even getting on a minor exchange would help.

- Some of the standard promo things, like giveaways, faucets, etc. would help

- I don't know if it's possible, but could this be made to work with CGMiner somehow? I'd much rather download something to add to my CGMiner, or download a modified CGMiner that i can specify VTC mining (something like using "vert" instead of "scrypt" in kernel config...i dunno).

I think the coin benefits from more publicity, more hashrate primarily.

I think we need something useful to do with the coins or is that further down the road.  just holding or trading is great but the value doesnt increase if theres nothing else to be done with them no matter how fantastic N factor is.

From the Interview at: http://www.followthecoin.com/interview-creator-vertcoin/

Q:
"Vertcoin seems like it’s built around the technical concept of the coin itself, rather than being built on the marketing/brand power behind it. The official site is very barebones, there’s no flashy giveaways, no official bounties listed in the announcement thread, etc. Do you think having a coin that is different from others on a code level will be enough for it to grow and remain successful? Or do you have plans in place to increase marketing presence down the road?

A:
I don’t think technically it is a completely success formula yet, but it is a core that we should have first. Later when it’s more technically complete, we can create a marketing brand based around that."

i really like this attitude and i see vtc als long term investment. we have enough of this crash and burn coins ....

[aino]

get it on cryptsy

get i on bter
 
get in on coin EX

SUPPORT

NOW

[jasemoney]

very helpful everyone with the core technicality vs the marketing.  I hope to follow the development of both sides from here

[sammy007]

OMG how I missed this coin?! It seems will became a cave for all GPU miners when scrypt ASICS coming.

VTC: VxyRQWAzxWPWhvqYhEUCTSBVJQ2GtDJza8

[sammy007]

Guys, if your system crashes on cgminer quit, read my post (Linux only)

[moonbat]

How to unblock it ? Fals positive ?

I just reported it as a false positive at http://www.bitdefender.com/site/Main/automaticSampleUploader/

Please can other people do the same. I also submitted www.vertcoin.org which bitdefender has now started classifying as malicious for some reason.


Can people also email suggest@websense.com who I emailed earlier today but have not had a response from, and tell them that they are one of only 2 out of 50 something anti-malware products which is erroneously reporting www.vertcoin.org as malicious.

I reported them and have had the following message back

"The site you submitted has been reviewed and assigned the following category:
 
http://www.vertcoin.org/  –  Business and Economy

Categorization updates should be reflected in the next scheduled database publication, and will be available shortly to Real-Time Updates subscribers.
 
Thank you for your inquiry"

So looks like they have sorted it out.

[organizer]

From the Interview at: http://www.followthecoin.com/interview-creator-vertcoin/

Q:
"Vertcoin seems like it’s built around the technical concept of the coin itself, rather than being built on the marketing/brand power behind it. The official site is very barebones, there’s no flashy giveaways, no official bounties listed in the announcement thread, etc. Do you think having a coin that is different from others on a code level will be enough for it to grow and remain successful? Or do you have plans in place to increase marketing presence down the road?

A:
I don’t think technically it is a completely success formula yet, but it is a core that we should have first. Later when it’s more technically complete, we can create a marketing brand based around that."

i really like this attitude and i see vtc als long term investment. we have enough of this crash and burn coins ....

Well, what's left to do to make this "technically complete"? Not much from what I see. It's been out for a while now and I do agree with the overall approach and like the ability for even low-end miners to get a piece of the pie.

But noble causes are nothing without market adoption. Shit coins are still getting hash power thrown at them while this seems to be staying steady (which is all good, for now). But as the diff continues to rise, the risk (putting rigs on a coin) vs. the reward might not grow with it.

[mik_druid]

how many blocks or how much time to the next diff change?

[gonzzo]

how many blocks or how much time to the next diff change?

copy/paste Prop Stats:

Difficulty    5.65278597
Est Next Difficulty    7.96054605 (Change in 1246 Blocks)
Est. Avg. Time per Block    1 minute 46 seconds

[gonzzo]

From the Interview at: http://www.followthecoin.com/interview-creator-vertcoin/

Q:
"Vertcoin seems like it’s built around the technical concept of the coin itself, rather than being built on the marketing/brand power behind it. The official site is very barebones, there’s no flashy giveaways, no official bounties listed in the announcement thread, etc. Do you think having a coin that is different from others on a code level will be enough for it to grow and remain successful? Or do you have plans in place to increase marketing presence down the road?

A:
I don’t think technically it is a completely success formula yet, but it is a core that we should have first. Later when it’s more technically complete, we can create a marketing brand based around that."

i really like this attitude and i see vtc als long term investment. we have enough of this crash and burn coins ....

Well, what's left to do to make this "technically complete"? Not much from what I see. It's been out for a while now and I do agree with the overall approach and like the ability for even low-end miners to get a piece of the pie.

But noble causes are nothing without market adoption. Shit coins are still getting hash power thrown at them while this seems to be staying steady (which is all good, for now). But as the diff continues to rise, the risk (putting rigs on a coin) vs. the reward might not grow with it.

agree, at the end no coin is worth anything if you can't use it
but i think there is no need to rush with the marketing part.

some sort of a road map from the vert team would be cool, so one can imagine where things are heading
just an idea

[sakkosekk]

From the Interview at: http://www.followthecoin.com/interview-creator-vertcoin/

Q:
"Vertcoin seems like it’s built around the technical concept of the coin itself, rather than being built on the marketing/brand power behind it. The official site is very barebones, there’s no flashy giveaways, no official bounties listed in the announcement thread, etc. Do you think having a coin that is different from others on a code level will be enough for it to grow and remain successful? Or do you have plans in place to increase marketing presence down the road?

A:
I don’t think technically it is a completely success formula yet, but it is a core that we should have first. Later when it’s more technically complete, we can create a marketing brand based around that."

i really like this attitude and i see vtc als long term investment. we have enough of this crash and burn coins ....

Well, what's left to do to make this "technically complete"? Not much from what I see. It's been out for a while now and I do agree with the overall approach and like the ability for even low-end miners to get a piece of the pie.

But noble causes are nothing without market adoption. Shit coins are still getting hash power thrown at them while this seems to be staying steady (which is all good, for now). But as the diff continues to rise, the risk (putting rigs on a coin) vs. the reward might not grow with it.

agree, at the end no coin is worth anything if you can't use it
but i think there is no need to rush with the marketing part.

some sort of a road map from the vert team would be cool, so one can imagine where things are heading
just an idea

Funny coins are still the most popular:/  I just saw NYANs FB page has 2.6 million likes.

[dmcx]

- I don't know if it's possible, but could this be made to work with CGMiner somehow? I'd much rather download something to add to my CGMiner, or download a modified CGMiner that i can specify VTC mining (something like using "vert" instead of "scrypt" in kernel config...i dunno).

I think It's already implemented in main cgminer branch. Use -scrypt:2048

regards

Is it? Can you use cgminer 3.7.2 and just write scrypt:2048 and it will mine vert?? I am using modified cgminer which is on first page here.. Can performance differ?
Anyway, wert is superb coin.. I love it.. such good feeling knowing that f*****g ASICs wont dominate at least this coin.. mmm

I'm not sure, because I'm not using cgminer, but I think I saw on this thread somewhere that u can mine vert with standard cgminer (latest version I guess) with  switch -scrypt:2048. Can't tell you about performance either, i suggest you give both of them a try and compare the result.

regards

[BorisTheSpider]

If anyones interested I can create a vertminer version of BAMT 1.3?

Lemme know if anyone is interested and I'll make it tonight!  I've got it running already - just need to customise it a little more for vert...

MB

Yes this would be great. Please let me know when it's done and tested, and I'll link from vertcoin.org

[rfcdejong]

If anyones interested I can create a vertminer version of BAMT 1.3?

Lemme know if anyone is interested and I'll make it tonight!  I've got it running already - just need to customise it a little more for vert...

MB

I would like to test it

[flowerpots]

Just bought my first Vertcoins.. yaaay!

Does anyone know how to mine with Mac in a pool?

[BorisTheSpider]

Just bought my first Vertcoins.. yaaay!

Does anyone know how to mine with Mac in a pool?

Hi flowerpots,

I don't know of a mac build of the modded cgminer yet (the github is linked from www.vertcoin.org) - it would be great if you'd post a link if you build your own binary - I'll link it from vertcoin.org if you do. I would expect the build to be somewhat similar to the linux build howto that is also linked from vertcoin.org, but I don't know much about Mac OS X.