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moonbat
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March 10, 2014, 07:34:42 PM |
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VTC has been added to www.coingas.com (Steam Games) to add to your current merchants list. Woohoo! Just tweeted this news! @Moonbat4 |
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The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
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scott0577
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March 10, 2014, 10:22:31 PM |
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For now.. "Update: CoinPayments.net has been sold to a trusted member of the Bitcoin community, Cycloid. His team will be running the site starting on a TBD future date." |
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tolguen
Newbie
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Activity: 54
Merit: 0
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March 10, 2014, 10:35:30 PM |
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Jdj1727
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March 11, 2014, 01:26:56 AM |
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Are there any exchanges where I can purchase VTC with US Dollars?
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JohnnyDaMitch
Member
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Activity: 135
Merit: 10
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March 11, 2014, 01:48:39 AM |
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Are there any exchanges where I can purchase VTC with US Dollars?
There is c-cex that has VTC/USD, you could try to transfer some dollars there but I've never used this exchange - it seems quite small and I don't really see the advantage over trading through BTC. By this weekend (just announced) it should be possible with Vault of Satoshi in Ontario, Canada. They have a good reputation, and if there's no big rush you can cheaply deposit by mailing a money order - that makes good sense to me. |
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aleks648
Full Member
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Activity: 230
Merit: 100
Bounty Manager
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March 11, 2014, 01:55:08 AM |
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One of VTCs oldest pools, http://VTC.KILOVOLT.CO.UK is now back on new servers!*High End Dedicated Servers *Fully Redundant, Fault-Tolerant Architecture *Automatic Backup of Wallets and Databases *Technical Support from Experienced Coin Devs and Pool Owners (Aleks_N from Team VTC Dev) *Mining here supports the development of VTC. 25% of pool profits go to fund the ongoing dev of VTC.Please send some hash back our way. Look forward to seeing you all soon! Aleks_N |
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scroogeMcDuck
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March 11, 2014, 02:25:49 AM |
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Vertcoin really is the only new coin that's worth a damn right now. We are most definitely a top 5 market cap coin in terms of coin security and longevity. As the new scrypt alts continue to die, more people will gravitate back to the classics, and vertcoin will be one of them.
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DarthMuffin
Newbie
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Activity: 37
Merit: 0
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March 11, 2014, 02:32:35 AM |
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Why does the VTC price not keep track of the increase in difficulty? It is getting more and more difficult to mine the coins but that is not reflected in the price. Profitability is half of what it was a week ago.
Why should it? A free market says the price will ultimately end up at mining price + the least amount of profit any miner is willing to take. If there's a shortage (more buyers than sellers) then price goes up, more miners jump onboard seeing a potential for profit and difficulty goes up ultimately to match the shortage price. Don't mine Vert to dump and get rich quickly. It's a long-term thing and so far the stats back that up -- it's holding value as well as can be expected. |
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alc
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March 11, 2014, 03:05:10 AM |
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A free market says the price will ultimately end up at mining price + the least amount of profit any miner is willing to take. A free market says the price will ultimately end up at whatever value people feel that Vertcoin's utility provides them. If it's lower than the cost of mining, so be it. Cryptocoins are not given value by mining cost; mining rewards are given value by the attractiveness of the currency. |
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BrianZ111
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Activity: 3
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March 11, 2014, 04:24:53 AM |
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What I see is price has the tendency to be a self-fulfilling prophecy. Price rises when people believe price will rise. Buyers then buy and holders don't sell. Unfortunately this means price tends towards perception of value rather than actual value. Since most people look at a coin's change in price to get that perception, it becomes a feedback loop effect on change. A bubble when things are going up and a crash when things are going down.
There is a chicken and egg problem in determining the actual value. The usefulness as a currency depends on how well known its actual value is. The actual value depends on how useful it is as a currency. If no actual value can be determined then there is no actual value. The conclusion is the cryptocurrency that best solves the problem of easily demonstrating its actual value will also end up with the most actual value. This means either changing the perception that price equals value among miners and buyers and/or directly getting price to have a predictable, stable future that reflects actual value through the coin's protocol. The cryptocurrency that figures out how to do that wins mass adoption.
So far I think Vertcoin has been mostly successful at changing the perception that price equals value. By that I mean most miners and buyers are more educated about what the coin does rather than looking at price all the time. I think focus needs to be on keeping the new people coming in educated. Explain what Vertcoin gets them in terms they can understand. UNDERSTANDING IS KEY! The dollar is currently the most successful currency because people understand what they can do with it and are confident about what they can do with it in the future. Make them understand why this does the same and better.
Tell people about any short comings too. Maybe they'll have ideas about how to make it better. There is not government monopoly on creating currency now. In a future where anyone can create their own currency, covering up problems or rejecting ideas will only hurt a currency in the long run.
I have an idea for getting price to directly be more stable/predicable but I don't know enough technical detail to know how to do it or if it's possible. That is to have the difficulty adjust to not just computing power but also buying demand or market price. This would adjust mining supply up or down by increasing/decreasing difficulty as rate of price change increases to help keep price on a more steady increase instead of wild fluctuations. I'm not sure how you make the network aware of buying demand/price though. Not necessarily saying Vertcoin should do that but if anyone tries it I'd be interested to see how it goes.
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DarthMuffin
Newbie
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Activity: 37
Merit: 0
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March 11, 2014, 04:27:28 AM |
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A free market says the price will ultimately end up at whatever value people feel that Vertcoin's utility provides them. If it's lower than the cost of mining, so be it.
Agreed, but that's not sustainable. There are some coins that will be sold at below mining cost, but the number is not infinite. Eventually the cheap coins will dry up and the only ones left won't be willing to sell for what's being offered. At which point either market price comes up or the hypothetical coin is dead (unless you reach some critical mass like Bitcoin, where no more coins are immediately needed -- I'm not sure what that level is, but we're not even close). |
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silencesilence
Legendary
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Activity: 1120
Merit: 1000
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March 11, 2014, 06:28:57 AM |
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WTF Where we going ... , I stopped minning but I have VTC  Price falls .... The difficulty increases - WHY? |
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pjr77
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March 11, 2014, 06:33:25 AM |
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Price manipulation and dumpers selling cheap. The bottom is near  |
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eizh
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March 11, 2014, 06:35:51 AM |
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Most altcoins are going downhill at the moment.
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Mikellev
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March 11, 2014, 10:40:34 AM
Last edit: March 24, 2014, 10:44:16 AM by Mikellev |
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scroogeMcDuck
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March 11, 2014, 11:18:22 AM |
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Most altcoins are going downhill at the moment.
This. This is why I'm weighing my options carefully, and at this point vertcoin seems like a winner, especially when compared to all the scrypt clones. |
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silencesilence
Legendary
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Activity: 1120
Merit: 1000
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March 11, 2014, 01:41:48 PM |
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Most altcoins are going downhill at the moment.
This. This is why I'm weighing my options carefully, and at this point vertcoin seems like a winner, especially when compared to all the scrypt clones. / everyone knows why, many times we discussed it / Buy now while the price is low, because right now there are people who played a lot of exchanges and reduce the price through small sales ... and those who quickly sell give even lower prices ... thus the price goes down, and people with money buy at very low prices now After 6-8 months the price will be at least 0.01-0.015 Trust me Silence - 15 months experience in the stock market |
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mfedorov
Member
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Activity: 111
Merit: 10
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March 11, 2014, 01:54:49 PM |
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Most altcoins are going downhill at the moment.
This. This is why I'm weighing my options carefully, and at this point vertcoin seems like a winner, especially when compared to all the scrypt clones. / everyone knows why, many times we discussed it / Buy now while the price is low, because right now there are people who played a lot of exchanges and reduce the price through small sales ... and those who quickly sell give even lower prices ... thus the price goes down, and people with money buy at very low prices now After 6-8 months the price will be at least 0.01-0.015 Trust me Silence - 15 months experience in the stock market Don't get me wrong, I mine VTC, I believe VTC, my portfolio is 75% VTC. This is the most promising coin, especially since I can already get my hands on ASICs in NY NOW. But there is nothing except ASIC resistance that differentiates this coin from others. Distributed exchange and stealth addresses would be a big plus... I would also start integrating (building on top of) ethereum framework now. This would make this a coin of the future. |
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