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

[styxical]

You guys don't read or what? For the 8th time, x(number) algos are fpga mineable. They are a bad idea.

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[executter]

NeoScrypt-N ?

[jk_14]

Why devs don't want to migrate Vertcoin to other, more "cold" algo? Right now I must to mine x11-13 and change coins to vtc.
Now scrypt-n is too hot for all miners in summer

"2. Multiple PoW, In order to change to the new algorithm, it must be smooth transition as much as possible. We have planed to implement multiple PoW from Scrypt-N to the new algorithm. According to the plan, it will be Scrypt-N -> New Agorithm + Scrypt-N -> New Algorithm."

https://bitcointalk.org/index.php?topic=404364.msg7513769#msg7513769

I insist for an excercise at first:

Scrypt-N -> Scrypt-N + X11

- and let every miner chose, what he prefer (winter/summer, day/night, odd/even day of month, whatever...)

as faster, then better - cause that is only an algorithm (and will be changed anyway - for blocking ASICs for instance)

[jk_14]

Maybe we could pay a "bribe" to btc-e to add vertcoin to their market ? I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains It works only becouse lower memory consumption and the hashrate is bigger than normaln scrypt and scrypt-n.

How much we should pay a "bribe"? 5000 vtc is enough?


The situation is not stable, when using the same GPUs and lower amount of energy
- in the same time you have more amount of VTC mining indirect than direct:

some X11 coin -> BTC -> VTC

[jk_14]

You guys don't read or what? For the 8th time, x(number) algos are fpga mineable. They are a bad idea.

It would be the best news here - if you would have it well documented (mining X11 on FPGAs)

[ntrader]

Maybe we could pay a "bribe" to btc-e to add vertcoin to their market ? I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains It works only becouse lower memory consumption and the hashrate is bigger than normaln scrypt and scrypt-n.

You're wrong, man. And I explain to you why.
I have 8Mh on vert and calculator shows 55 vtc/day with current difficulty 143.43204979. Also power consumption of this 8 Mh is around 4.5 kW.
And using rigs on x11-13 I have near 85 Mh on x11 and near 65 Mh on x13. This algos give me 0.025-0.035 btc/day and this is equal of 65-90 vtc/day (I use current price on mintpal).
Total power consumption on x-algos is around 2.7 kW.
And what we have:
scrypt-n: more power consumption, hot cards (70-80C) , lower profit
x: less power consumption, lower temps (50-60C), better profit

That's why many miners don't want back to mine vertcoin directly. Right now Scrypt-n is very expensive for us.

And now you can again talk about "I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains"

All cards is 7970, not nvidia, and they are in downclock.

If my thoughts are wrong, guys, correct me, please.

[jwinterm]

Maybe we could pay a "bribe" to btc-e to add vertcoin to their market ? I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains It works only becouse lower memory consumption and the hashrate is bigger than normaln scrypt and scrypt-n.

You're wrong, man. And I explain to you why.
I have 8Mh on vert and calculator shows 55 vtc/day with current difficulty 143.43204979. Also power consumption of this 8 Mh is around 4.5 kW.
And using rigs on x11-13 I have near 85 Mh on x11 and near 65 Mh on x13. This algos give me 0.025-0.035 btc/day and this is equal of 65-90 vtc/day (I use current price on mintpal).
Total power consumption on x-algos is around 2.7 kW.
And what we have:
scrypt-n: more power consumption, hot cards (70-80C) , lower profit
x: less power consumption, lower temps (50-60C), better profit

That's why many miners don't want back to mining vertcoin directly. Right now Scrypt-n is very expensive for us.

And now you can again talk about "I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains"

All cards is 7970, not nvidia, and they are in downclock.
If my thoughts are wrong, guys, correct me, please.

This is very true, and probably a large part of why the network hashrate has been dropping - miners can earn more (btc value), not even considering the lower power costs. The argument that there are fpgas mining whatever algorithm is kind of moot, since even if there are it's still more profitable to mine those algorithms, especially if power is a significant cost for you (strongly dependent on where you live).

[odaxis]

i should take some time yo calculate some formula for us .
will post in 2 days.
i never said we should decrease block reward but it should be dynamic.

[TheCoinFinder]

i should take some time yo calculate some formula for us .
will post in 2 days.
i never said we should decrease block reward but it should be dynamic.

IMO there should be no change. We need to build vertcoin's value - not decrease its emission.

[Joshuar]

Vertverser is good, just that the website needs a nice layout to make it appealing.

[lanshop2010]

When I first got nvidia 750 ti video cards for mining, I researched about altcoins and settled on vertcoins and mined. I liked the idea that gpu miners will soon flock to vertcoin because of the arrival of asic hardware. The merged mining concept was also interesting and I thought it could be a winner. Slowly, the vtc price started to drop from $0.8 back then. The other merged mined coins also didn't appreciate in value. But I held and added more, until a friend showed me hundreds of altcoins with better values.

I was told that using scrypt-n was more expensive in electricity. I started checking this out using the amount of coins I can mine per day and the electricity consumed. My calculations showed that my friend was right. After that, I reluctantly sold my VTC coins. I even discovered other coins will lesser power requirement than X11.

I don't know what's happening to vertcoin's price, if it just a temporary market down cycle sentiment or gpu  miners preferring some other coins. I still like vertcoin, its community and the developer's commitment to keep asic hardware away as long as possible. I hope it will turn out better for vertcoin soon, I'll still be monitoring this coin from time to time.

[jk_14]

And what we have:
scrypt-n: more power consumption, hot cards (70-80C) , lower profit
x: less power consumption, lower temps (50-60C), better profit

That's why many miners don't want back to mine vertcoin directly. Right now Scrypt-n is very expensive for us.

And now you can again talk about "I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains"

All cards is 7970, not nvidia, and they are in downclock.

If my thoughts are wrong, guys, correct me, please.

So, we shouldn't be offended for the facts...

N-Scrypt + X11 multi PoW (as multi PoW was announced by developers as possible solution in general)
- should be used ASAP to save the Vertcoin competitiveness for miners, because now it is really affected

Numbers never lie...

[sqsq2002]

VTC have to make some changes, only recognized by the market, such as volume and block rewards.

[crybaby]

Maybe we could pay a "bribe" to btc-e to add vertcoin to their market ? I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains It works only becouse lower memory consumption and the hashrate is bigger than normaln scrypt and scrypt-n.

You're wrong, man. And I explain to you why.
I have 8Mh on vert and calculator shows 55 vtc/day with current difficulty 143.43204979. Also power consumption of this 8 Mh is around 4.5 kW.
And using rigs on x11-13 I have near 85 Mh on x11 and near 65 Mh on x13. This algos give me 0.025-0.035 btc/day and this is equal of 65-90 vtc/day (I use current price on mintpal).
Total power consumption on x-algos is around 2.7 kW.
And what we have:
scrypt-n: more power consumption, hot cards (70-80C) , lower profit
x: less power consumption, lower temps (50-60C), better profit

That's why many miners don't want back to mine vertcoin directly. Right now Scrypt-n is very expensive for us.

And now you can again talk about "I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains"

All cards is 7970, not nvidia, and they are in downclock.

If my thoughts are wrong, guys, correct me, please.

Ironically the only way to mine Vertcoin directly and profitably now is with a Scrypt-N ASIC.  One supplier is quoting 2.5MH/s for 18W (yes W not kW).  This wouldn't be the first time doggedly sticking to ideology was the instrument of downfall.  The coin needs more fundamental rethought than the devs are prepared to offer.

[DogTheHunter]

And what we have:
scrypt-n: more power consumption, hot cards (70-80C) , lower profit
x: less power consumption, lower temps (50-60C), better profit

That's why many miners don't want back to mine vertcoin directly. Right now Scrypt-n is very expensive for us.

And now you can again talk about "I dont understand why people belive in magic x11/x13/x15 colder and energy saver algo. It's just modified Intensity and lower hashrate thats all. You can lower your intensity with the same effect. They washed our brains"

All cards is 7970, not nvidia, and they are in downclock.

If my thoughts are wrong, guys, correct me, please.

So, we shouldn't be offended for the facts...

N-Scrypt + X11 multi PoW (as multi PoW was announced by developers as possible solution in general)
- should be used ASAP to save the Vertcoin competitiveness for miners, because now it is really affected

Numbers never lie...

this sounds interesting.

actually, this coin should have its own anti-ASIC strategy to stand out.

x11 PoW and PoS and 12 month hard fork algo tweak.

1. energy saving PoW to secure the network
2. use PoS for transaction speed, and
3. use PoS to facilitate 12 monthly algo tweak.

You can build all the ASICs you want, but it takes ~6 months to get one, another ~6months to sell them, but in that time you won't have time to make money from it. ROI would be -$$$$$

[DogTheHunter]

Ironically the only way to mine Vertcoin directly and profitably now is with a Scrypt-N ASIC.  One supplier is quoting 2.5MH/s for 18W (yes W not kW).  This wouldn't be the first time doggedly sticking to ideology was the instrument of downfall.  The coin needs more fundamental rethought than the devs are prepared to offer.

I was looking at the price chart and thinking the same thing. Right now, you need ASICs to mine because the power cost is too high.

[AlaricI]

New Vertcoin Athlete blogpost: http://vertcoinathlete.com/2014/07/back-to-the-basics-vertcoin-marketing/

Let's get it!

[DarkAGeS]

Execoin hardfork is coming with new reward system (Base reward reduced to 20 coins per block and now reward depends on the total network hashrate)
https://bitcointalk.org/index.php?topic=491058.msg7916629#msg7916629
price don't move - no reaction for about 2 days after news

[Joshuar]

Exe cant be compared to Vertcoin.

Exe's marketcap is like 100,000?

Vertcoins marketcap is above 1,000,000(1million)

[jwinterm]

New Vertcoin Athlete blogpost: http://vertcoinathlete.com/2014/07/back-to-the-basics-vertcoin-marketing/

Let's get it!

Just ordered a vtc shirt with vtc, thanks AlaricI!