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

[xgtele]

Heya mining at vert.bitcrush.info for the last couple of days 1.1 MHash - pool says I should get roughly 8 per day but I have been receiving ~6-6.5 per day tops. Ideas ?

Try to mine on p2pool

[1715672754]

1715672754

[1715672754]

1715672754

[ahnonamis]

Heya mining at vert.bitcrush.info for the last couple of days 1.1 MHash - pool says I should get roughly 8 per day but I have been receiving ~6-6.5 per day tops. Ideas ?

It's an estimated amount. The rate of finding blocks, difficulty rises/dips, etc. all play a role and it's impossible to accurately give a number for what the next 24 hours will bring.

[deky_]

I think it would be nice to see a poll about zerocash. What do you guys say? Would be fair. We, the community, should also have a word to say.

I thought I had better address this, because it'll come across rude if I don't say something, although I don't particularly want to because it's tough to say anything without coming across a little bit brusque. There's 2 reasons a poll is not necessary, or useful - first,  why on earth would the people who develop this associate themselves with things that could land them on watch-lists or with legal difficulties simply because a majority of people on an internet forum said so! Secondly, even if most people on Bitcointalk wanted anonymity features in VTC (which I don't believe by the way) Bitcointalk is a tiny niche of hardcore crypto-heads and what they like might be the death of Vertcoin!

Completely agree.

And I wanted to add: if the decision is for VTC that it should aim for a widespread adoption, then path to be taken is the one that looks long term. Features like zerocash are one of those features that could be questionable for coin's long term success. There is no reason why we can't wait to see more coins with this functionality and then see what it does for them. I agree that it is good to be technologically advanced by introducing privacy features among first ones out there, but that has to be well thought out and balanced decision against long term goals for this coin.

I mean look at this discussion now for zerocash, there are some really divided opinions in this thread, because zerocash in controversial topic. If you aim for a long term success of this coin, and you want it to have a good reputation as a trustworthy currency based on good and active development team, great community and overall positive vibe that comes with it, then introducing zerocash could potentially turn quite a few heads imho.

Someone here mentioned that feature like this is a niche feature that is appealing to a very small group enthusiasts here on bitcoin talk, and I agree. Who can really guarantee us that the broad audience wants a coin that is completely anonymous? There should be a balance between privacy and transparency, and unfortunately we have to consider governments and big banks who are sooner or later going to try and regulate crypto-currencies (some of them are in process now). I am not sure that they would be willing to work with a coin that is completely untraceable. And (again unfortunately), having those organizations acknowledge and accept cryptos, is one of the bigger doors into a widespread adoption. Which is as far as I understand one of our main objectives...

My 5 cents  

[mega]

Heya mining at vert.bitcrush.info for the last couple of days 1.1 MHash - pool says I should get roughly 8 per day but I have been receiving ~6-6.5 per day tops. Ideas ?

Use P2Pool

[TEX_Coin]

I see some valid reasons brought up about zerocash. The fact of the matter is if you want the widest amount of acceptance from both a miner/investor level all the way up to the government you're going to need transparency. I agree with the decision that was made by the devs. Do you really think the government will let a coin run rampant if they can't ensure that it's not being used for illegal activity and/or the government isn't getting its cut? Or do you think they would be more accepting if there was transparency? I think the choice is clear.

I believe the assertion that "acceptance of government is required" to be false. Bitcoin will fulfil that role. The reality is that vertcoin cannot displace bitcoin in that role. If vertcoin does not take this initiative of privacy then another coin will. The assumption of miner acceptance and government acceptance being required at the same time will be tested sooner or later. I think it would be advantageous for vertcoin to be the first in this space. If not, it will be a missed opportunity in my view.

I think it would be ridiculous to take a chance on implementing something that has such a high probability of government interference. As much as some of us would love to have this notion that crypto currencies are completely separate from countries/governments/laws, etc., you cannot escape the fact that we are dealing with something that has monetary value. If you are benefiting, building wealth, enjoying gains, etc. at some point when you use this stuff to either purchase goods or services, or convert to the monetary format of your home country and put it in the bank, your government will expect taxes, no different than if you enjoyed financial gains from stocks or other investments. I think it would be naive to believe crypto could exist in some type of anonymous void, where governments would be powerless to come after you for non-payment of taxes. I see no difference between hiding income in Swiss bank accounts, , establishing "front" companies in the Cayman Islands for tax shelters, etc. Sure, people do that, but many people get caught. Anytime you use an exchange to buy and sell cryptos, utilize wire transfers, etc., there is already a paper trail back to you. (especially as amounts and values increase to put up more red flags) If VTC, or any other coin implements a feature that offers total anonymity, my guess is that it would be great PR, and I would anticipate the value could really be effected in a positive way for the short term. However, all it would take to come crashing down would be the involvement of  governments to start getting involved with the exchanges- shutting them down, limiting their ability to conduct business with that coin, etc. At that point, I would expect the value of that coin to plummet, and many of us would be left holding the bag. Regardless of what other possible privacy features the dev's are working on now- I think zerocash is certainly not a long term feature for growth. (and yes, I would not be surprised to see another coin come forward at some point with this feature and become popular... but only time will tell if it is only a temporary success) This is one instance where I think its best to lean on the conservative side and take the safe, long term approach.

[xingqiaoyin]

Heya mining at vert.bitcrush.info for the last couple of days 1.1 MHash - pool says I should get roughly 8 per day but I have been receiving ~6-6.5 per day tops. Ideas ?

P2pool or pps (projectx) ftw..

[merkin]

Who's mining this nice coin ?

[battbot]

Can someone explain to me how p2pool works?  How is it different than a regular pool, and what are the pros/cons?

Thanks in advance!

edit-- nvm, did a quick google search. -.-

Well, can someone explain to me how to go about picking the best p2pool?  I don't really understand how to go about choosing one (or are they all the same?).  What should I be looking for?  My hash is about 2.2 Mh/s

[Squeegie]

Does the MS of my connection affect the result from P2P more or less then a normal pool?

[jox]

Why not update the OP? Its going to get lost here...

Done

You forgot change old logo on the OP.  

[tsh]

Can someone explain to me how p2pool works?  How is it different than a regular pool, and what are the pros/cons?

Thanks in advance!

edit-- nvm, did a quick google search. -.-

Well, can someone explain to me how to go about picking the best p2pool?  I don't really understand how to go about choosing one (or are they all the same?).  What should I be looking for?  My hash is about 2.2 Mh/s

Closest (ping) one is good. They're near enough all the same, except for any that try to scam you (cheating the payout) or are just broken.

[ocminer]

http://vert.suprnova.cc <- 0% fee pool, hop in, 5 VTC per Block Bonus !

[faraway]

Can someone explain to me how p2pool works?  How is it different than a regular pool, and what are the pros/cons?

Thanks in advance!

edit-- nvm, did a quick google search. -.-

Well, can someone explain to me how to go about picking the best p2pool?  I don't really understand how to go about choosing one (or are they all the same?).  What should I be looking for?  My hash is about 2.2 Mh/s

Closest (ping) one is good. They're near enough all the same, except for any that try to scam you (cheating the payout) or are just broken.

The concept of p2pool is to coordinate miners using a set of nodes, this is a decentralized pool. The main advantage, is that you can have your own node, this will get you a lot less DOA (dead on arrival), and an efficient result. All the nodes add their hashrate power, and the payout is done block per block among the miners, and based on their shares. This is here a PPLNS payout.

[perl]

http://vtc.crypto-pool.fr/

0% Fees.
Use Dedicated servers localized in france (EU).
PPLNS payout
Low fee for payout
Payouts run every minutes.
LOW VARDIFF, Stratum support
Pool use blocknotify for advertise new block and reduce orphan blocks

[brandgoods]

The easy answer is: Government would not tolerate it. Precisely why we should all wait and see what the particular privacy features the devs have mentioned they are working on. So far DEVs of this coin have done a terrific job guys, just take a look at some other coins and what goes on in their threads - complete mess. We are focused group here, let's keep this a positive community and calculated steps. ZeroCash is a big step plus even bigger risk because it may isolate us completely. Is this a completely must-have right now? No, it is not. Our goal is mass adoption and to do what Bitcoin did but in quarter of the time. In business, you must know how to manage and navigate risk. At the present time this isn't risk worth taking because it will lead us in wrong direction.  Additionally, I think the devs got some cool tricks up their sleeves with security features they said they are already working on that will surely be innovative. Let's let them do what they do best   And we keep spreading good word around community about Vertcoin and keep pushing it forward!

Exactly! Government will not tolerate anything about money that it can't control. ;-) Bitcoin is already under pressure because of that and if the developers will really implement what they're planning to do... who knows how the things will turn.

[Autodidact]

Can someone explain to me how p2pool works?  How is it different than a regular pool, and what are the pros/cons?

Thanks in advance!

edit-- nvm, did a quick google search. -.-

Well, can someone explain to me how to go about picking the best p2pool?  I don't really understand how to go about choosing one (or are they all the same?).  What should I be looking for?  My hash is about 2.2 Mh/s

Closest (ping) one is good. They're near enough all the same, except for any that try to scam you (cheating the payout) or are just broken.

The concept of p2pool is to coordinate miners using a set of nodes, this is a decentralized pool. The main advantage, is that you can have your own node, this will get you a lot less DOA (dead on arrival), and an efficient result. All the nodes add their hashrate power, and the payout is done block per block among the miners, and based on their shares. This is here a PPLNS payout.

Ya I wish I knew how to set up my own node

[FL123]

I think this is a mistake but it's not my career and money on the line. If anonymity is provided, I think this would clearly differentiate Vtc versus Btc, Ltc and Doge. As the overall adoption of crypto itself is less than 0.02% of population, I don't think one can conclusively say that Vtc adoption will not increase significantly if anonymity is provided.

I think many people either refuse or otherwise fail to admit to themselves that the health of digital currency as a whole is dictated by and will be dictated by (in the long run) by bitcoin. The adoption level is so far in that I've seen bitcoin references in some of the monday night tv shows that come on (like the show "Almost Human") and before any altcoin will ever be successful (and they are ALT coins) we will need to see the overall acceptance and MASS adoption of bitcoin. If the health of digital currency as a whole is actually depicted by the health of Bitcoin, we can then make the obvious conclusion that whatever is considered a downside to bitcoin (when it comes to society accepting bitcoin on a massive scale) will also be considered a downside to any other altcoin that tries to take the scene after bitcoin.

Right now the biggest downside to bitcoins mass adoption is the anonymity, yes the philosophy behind bitcoin is almost anarchistic...but things will have to change a little before bitcoin becomes truly massively adopted. Authorities are already prepared to make some serious regulations and enforcements if bitcoin turns out to be something too easily used by criminals, look at the hearing in New York, the goal organizations like the Bitcoin foundation are to help show that bitcoin is not necessarily something meant for criminals....In other words if an altcoin were to show itself to be BETTER at being used by criminals (like by implementing in it's code some form of function that made it's use even MORE anonymous than bitcoin) there would be some huge issues with adoption. Regardless of how many people want to be anonymous, do you think the world will accept Vertcoin if for example every government in the world came out and announced something like "Don't trust vertcoin, it is truly a currency for criminals, anyone we see dealing vertcoin will be seen as suspicious for criminal activity".

This is what the devs at vertcoin mean by saying governments will not stand by while we sit here and produce a coin ideal for criminal use. The goal here is to create a coin that is a competitor to Bitcoin, not the anti bitcoin...The moment Vertcoin becomes looked at as something bad or something that attracts "bad people", the coin will fail...

Bitcoin started out as the drug coin. It still IS the drug coin. And it's doing fine by the public. There are too many coins competing with bitcoin's niche - if vertcoin doesn't innovate it will die just like the hundreds of other altcoins.

Anonymity is DESIRED.

And just like someone else said above me - tumbling services will be provided for any mainstream coin anyway. Why not have that service on your own blockchain?

There is no reason a third party mixer, or anonymizer can't be whipped up ontop of VTC.   I think we should not be too quick to jump to the conclusion that it won't happen for VTC.   The dev's caught a tremendous amount of criticism for reaching out to the community a month ago asking about how best to implement the KGW, and change N-factor schedule.  Look back in this thread!  The request for community input was met with "Don't put up a poll,  Do your job and make DEV decision"

All that is really happening, is the DEVs have spent weeks working through zerocash questions.  And it seems to me that they are thinking it best to adopt a friendly position towards wide-spread adoption.   Thats it,  Anyone can do anything they want after that.  The dev's have no control of third party developers.    I view it as the best of both worlds.   We have a friendly face to the coin, that is not actively working to make the coin impossible to adopt.  Yet we can have all sorts of other tools to do whatever we wish after the fact.

Well Said!

Guys. in my opinion "zero trust" in vertcoin will have more positive implications than zero chash.  I am not saying "zero cash" is bad but I think we should focus on zero trust as some other person pointed in reddit.

[jpeggt]

Guys. in my opinion "zero trust" in vertcoin will have a more positive implications than zero chash.  I am not saying "zero cash" is bad but I think we should focus on zero trust as some other person pointed in reddit.

I agree, its another important aspect to making vertcoin (unlike other cryptos) truly decentralised, which I think is a key feature to the success of crypto currencies (vertcoin in particular) and why they are better than the current "3rd party trust" options.

[xgtele]

Can someone explain to me how p2pool works?  How is it different than a regular pool, and what are the pros/cons?

Thanks in advance!

edit-- nvm, did a quick google search. -.-

Well, can someone explain to me how to go about picking the best p2pool?  I don't really understand how to go about choosing one (or are they all the same?).  What should I be looking for?  My hash is about 2.2 Mh/s

https://bitcointalk.org/index.php?topic=18313.0

and

https://bitcointalk.org/index.php?topic=153232.0

[Vertcoin]

Guys. in my opinion "zero trust" in vertcoin will have a more positive implications than zero chash.  I am not saying "zero cash" is bad but I think we should focus on zero trust as some other person pointed in reddit.

I agree, its another important aspect to making vertcoin (unlike other cryptos) truly decentralised, which I think is a key feature to the success of crypto currencies (vertcoin in particular) and why they are better than the current "3rd party trust" options.