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

[bengtåke]

Please dont freakin hardfork it man!! its gonna make vert look like a scamcoin, just dont and wait and see what happens guys.

We won't, that's not how we roll.

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[sammy007]

Make a community poll*, reduce daily inflation to 1/4th and the coin will be (more) ok. Implement it along with the stealth addresses in the same hardfork.

* Ask for extended majority of 2/3rds to take the decision - like 66.6% required to make any change, not just 50%.

This kills the coin. Why would I, a new person, use a coin which developer's are manipulating to profit from?

DRK only got away with it because they're the only ones offering anon transactions.

DRK is probably the most unfair coin ever (except obvious scam coins). VTC have to just add features and don't cheat with coin supply.

[sammy007]

i heard there will be anon feature for vertcoin, just a rumor or is the true?

Yes, stealth addresses will be coming end June.

Awesome. Make it RC1, RC2 and closed source! Just kidding 

[AlexGR]

I agree with AlexGR and his inflation fact. For me i do not longer mine VTC because my expensive energie cost.
Only people mining now are those who have significant low energie cost. They only do it now because they still can make a profit with VTC and their GPU. Price will steady decline as it is doing over weeks now.
If only 25% of actual supply could be mined now selling pressure would come down and price can go up again.
This would result people come back and invest in VTC again.

Think about this and ask community. Make it real after community has decided and do it with the announced fork. I paid a lot of btc for my VTC and still hold them up to now, but at some point i also have to cut my loss.

Its also time to cut my loss on ltc. Only crypto i have over are then btc, vtc and drk.
By now drk is my last chance to go on with crypto without loosing around 5k€.
I am related to crypto since end november 2013 and now after 7 month i work out day by day how this game works. As a nwbee there is only blood left on the crypto street.

What does it say about VTC if we choose to change the specifications of the coin whenever prices fall too low for our liking?

This is more than "prices fall too low for our liking". This is about the future of the coin and the perception of dying which creates a self-fulfilled prophecy through waves of dumping.

Exactly. But I'd also like to point out (again) that the price hasn't fallen - continual investment into VTC has ensured the price has remained stable - people measuring against BTC might as well be measuring VTC price in terms of Lean Hog contracts.

One way to look at it... another is that if a miner doesn't sell for BTC he's sure to make a loss (opportunity cost), so why wouldn't a miner want to convert to BTC? He's not interested in steady USD value if the BTC is rising.

Same for holders. If I know tomorrow it's going down to 0.001, why not sell today and rebuy later? (actually I've done that two times when I felt that it's gonna go even deeper)

As I see it the bitcoin reward formula cannot be successfuly emulated by other coins unless they desire to spend 4 years into irrelevancy. By that time people will say "ok, this hasn't make a break for what? 3-4 years? Why would it suddenly do anything now?" It's not inspiring (to put it mildly).

Bitcoin could afford to do it because it was the first and there was simply no initial price worthy of mention and hence that initial price could not be eroded. It was USELESS / costed nothing, so the only way was up.

Here we start with initial speculation that gives value - let's say 1$ per coin in the first month with 1mn coins. However this value cannot be preserved if we issue another 9mn coins - as there has to be another 9mn injected in cash (or 4.5mn injected for half supply of coins assuming miners keep the rest). The prospect for much higher prices is almost out of the question. And why would one keep something that precludes the possibility of much higher prices due to an embedded inflation mechanism?

I knew the inflation problem when I bought, so I can't complain. The market was full of shitcoins after the doge-aftermath so there weren't many options of legit coins except vtc and drk.

If you conduct a poll you can see how the community feels on this matter. The arguments for not changing the game or changing the game if it threatens the coins future both have some strong + and -'s and I'm not one to discard either easily. If not now, you can examine it further down the line. Just have it in the back of your mind.

Over and out.

[silencesilence]

Until the hashrate is big enough, price will continue going down, with some swings in between.

you often can not understand

you buy, sell, or mining?

Question to @ivanlabrie and @AlexGR

I often do not understand guys

you buy, sell, or mining?

? ? ? ?

What are you doing in this topic and what contributed to VTC?

[mmouse]

so vertcoin is dying, or it's beeing suppreessed before a pump?

Is VRC dying or simply inflation? It's killing me to see the price drop so low

Are people getting paid to post bullshit here?

[mfedorov]

so vertcoin is dying, or it's beeing suppreessed before a pump?

Is VRC dying or simply inflation? It's killing me to see the price drop so low

Are people getting paid to post bullshit here?

+1

I don't even pay attention to these posts. Buy more now before it doubles to $2. I mined 10k VTC (and still mining) and bought another 10k VTC through exchanges at different rates. So far, the rate has been more stable than BTC.

[AlexGR]

Question to @ivanlabrie and @AlexGR

I often do not understand guys

you buy, sell, or mining?

? ? ? ?

What are you doing in this topic and what contributed to VTC?

I've mined, bought, traded a few times and now I hold. I have not contributed anything to VTC except criticism, in the hopes it gets "better" (per my definition of better) so that I can increase the value of what I hold.

If that's bad, crucify me.

[ivanlabrie]

I agree with AlexGR and his inflation fact. For me i do not longer mine VTC because my expensive energie cost.
Only people mining now are those who have significant low energie cost. They only do it now because they still can make a profit with VTC and their GPU. Price will steady decline as it is doing over weeks now.
If only 25% of actual supply could be mined now selling pressure would come down and price can go up again.
This would result people come back and invest in VTC again.

Think about this and ask community. Make it real after community has decided and do it with the announced fork. I paid a lot of btc for my VTC and still hold them up to now, but at some point i also have to cut my loss.

Its also time to cut my loss on ltc. Only crypto i have over are then btc, vtc and drk.
By now drk is my last chance to go on with crypto without loosing around 5k€.
I am related to crypto since end november 2013 and now after 7 month i work out day by day how this game works. As a nwbee there is only blood left on the crypto street.

Inflation is a real problem, but we're still far from the massive scrypt asic miner deployment...we'll see what happens by then.
x11 asic might be feasible eventually as well, and it's way easier to implement than get one going for vertcoin since the devs are not the LTC devs heh

I'm on the fence, mining other coins atm, and might buy back in, but for now I cut losses since I needed to pay some bills.

I think that the curecoin guys had a great idea, but poor implementation held them back.
In that regard, vertcoin could adapt to a similar implementation if scrypt-n asics start showing up after the coin gets big enough.
I'd love being able to mine and fold profitably, but for now it's not feasible.

[styxical]

Make a community poll*, reduce daily inflation to 1/4th and the coin will be (more) ok. Implement it along with the stealth addresses in the same hardfork.

* Ask for extended majority of 2/3rds to take the decision - like 66.6% required to make any change, not just 50%.

This kills the coin.

Look around you on who are complaining of death.

Alts have gone down a very wrong route with massive inflation / debasement. This is unsustainable.

As inflation requires money to preserve price, the price goes down. The perception is then formulated that the coin is failing. This perception is then reinforced by all those who cut their losses with the "dying coin" and dump in waves. After a few months there's pretty much the sensation of stagnation and that the coin has no future. "If it had, it would have already made its mark".

This is cryptoland. The attention-deficit-disorder place in which people want the next new thing otherwise you are slipping into irrelevancy.

Give people features, store of value, low inflation etc and go for the kill. There is no reason why someone would buy today and have his investment debased by 50% in a few months due to double coins in circulation. There is simply no point.

Even the goal of becoming the next LTC is now fading, with LTC itself being dumped by the 10k's. Coins must be more cutting-edge than LTC, not only deliver ASIC resistance.

My 2c.

Do you not understand that even if you change the inflation rate, without constant new funds, the price will still trend downwards? Why are you so concerned with the price all of a sudden? Because you want to ride the gravy train up and change back to BTC? Why would we even care what you think if you're not invested in the long term health of the coin?

If we DID change the coin payout, think what happens:
- Price bumps up short term. (You get to cash out? Yay for you?)
- Price continues to trend down over the long term (as it's currently already doing)
- People are now skeptical because we're fucking with the parameters. What else might we change tomorrow? This is not a good question to have people wonder.

If you have some patience, think what happens:
- We maintain our good image.
- New INNOVATIVE features go in, for now, at the end of the month, which will certainly attract interest (and will compete with DRK directly).
- We look better than coins like DRK who changed their parameters hardcore to benefit early investors.

Just for transparency's sake, I'll let you know I'm sitting up there on that top 100 addresses page. I hear what you're saying. But you are suggesting killing the coin's, the COMMUNITY'S, image and reputation for your own gain. That's rather selfish of you and as far as I'm concerned you can go eat a bag of dicks.

[AlexGR]

Do you not understand that even if you change the inflation rate, without constant new funds, the price will still trend downwards?

It's a whole different game requiring 4x funds. I'm sure you understand that.

If you have some patience, think what happens:
- We maintain our good image.
- New INNOVATIVE features go in, for now, at the end of the month, which will certainly attract interest (and will compete with DRK directly).
- We look better than coins like DRK who changed their parameters hardcore to benefit early investors.

Stealth addresses were already priced-in after the spike. And then the unloading happened. And then further dumping happened.

As for DRK, you can't compete directly with it. You'll need 0.02 x 28.800 = 576 BTC per day to just hold price. DRK only needs 0.02 x 2880 = 57.6 BTC.

This inflation parameter does not benefit early investor. It benefits     E V E R Y   S I N G L E   investor and miner who doesn't want their money to be debased.

Currency that is not store of value = I sell it today and buy it tomorrow because it'll be cheaper = no reason to hold it.

If you are a bagholder and you don't understand this simple premise, there is nothing I can do.

PS. Run a community poll just to see interest about this proposal of reducing inflation - not as a decision making poll. I'd open it myself but it's better if the devs do it. I don't see why the devs want to listen to the community only in the issue of GPU mining and not in other things regarding coin direction or economic parameters. You are either with the community or you are not. You can't be with the community selectively only in matters relating to ASIC resistance and GPU mining.

[indiguy]

Its more stable then BTC. so no more coin dead question!

by the way, We've added VertCoin and now has it's own page on http://coinwik.org a wikipedia listing all the alt coins to help you quickly find facts and links about your favorite coin.

http://coinwik.org/VertCoin

If you know of other facts and links that can be added to the page, please feel free to update the page.

[styxical]

Do you not understand that even if you change the inflation rate, without constant new funds, the price will still trend downwards?

It's a whole different game requiring 4x funds. I'm sure you understand that.

It does not require 4x funds. It is the same amount of funds to hold the price up. All you are doing is changing your value per coin by some factor. You are essentially shifting the decimal place. You are taking all those new coins and instead of worth $1, now maybe they're worth $1.25. So we mint fewer coins per block, but each coin is now worth slightly more. As each coin is worth more, it still takes the same amount of money to hold up the price.

So what? The price will trend downward at a slower pace, sure. But we have fewer coins generated. That means for mining, you're winning fewer shares of coins, each valued slightly higher than before. How does this help anybody? The price is still trending downward.

The ONLY thing that would be accomplished is alienating new investors because now, all the early investors have a majority of the coins.

Stealth addresses are not priced in yet, because they're not up and running yet - see darksend's influence on DRK. Your argument why we can't compete with DRK is flawed because they changed their payout parameters. They early-mined a huge number of coins and then changed their parameters like what you're suggesting. Early investors got an unfair weight of the network coins. They only were able to get away with this because they have a unique product - any other coin that did this would get the shaft very quickly.

This is the same reason LTC devs won't change LTC parameters. Their userbase has come to expect certain things out of the coin they interact with and changing parameters simply to profit a minority would be viewed in a negative light.

Anyway, I'm not going to argue with you anymore. I've made all my arguments, and if you can't see reason by now then my words are being wasted. Go ahead and organize a poll, I highly doubt the devs will support you and I would not blame them.

[silencesilence]

Who undercuts the price of these orders of 2 coins, let us recognize the immediately
What a nasty person, if it is useful for coin .... jerks

I watch it for a week

0.00143083   2.00000000   0.00286166
0.00143183   2.00000000   0.00286366
0.00143283   2.00000000   0.00286566
0.00143382   0.07181973   0.00010298
0.00143383   2.00000000   0.00286766
0.00143738   31.50031400   0.04527792
0.00143740   164.32740732   0.23620422
0.00143820   2.00000000   0.00287640
0.00143899   1.05296505   0.00151521
0.00143900   376.41042816   0.54165461
0.00143985   30.62587532   0.04409667
0.00144085   2.00000000   0.00288170
0.00144180   2.00000000   0.00288360
0.00144190   2.00000000   0.00288380
0.00144200   32.00000000   0.04614400

[iGoodw1n]

We need own vertcointalk.org site I think, where community can share ideas, make different polls and have direct contact with developers.

[Kalizar]

Do you not understand that even if you change the inflation rate, without constant new funds, the price will still trend downwards?

It's a whole different game requiring 4x funds. I'm sure you understand that.

If you have some patience, think what happens:
- We maintain our good image.
- New INNOVATIVE features go in, for now, at the end of the month, which will certainly attract interest (and will compete with DRK directly).
- We look better than coins like DRK who changed their parameters hardcore to benefit early investors.

Stealth addresses were already priced-in after the spike. And then the unloading happened. And then further dumping happened.

As for DRK, you can't compete directly with it. You'll need 0.02 x 28.800 = 576 BTC per day to just hold price. DRK only needs 0.02 x 2880 = 57.6 BTC.

This inflation parameter does not benefit early investor. It benefits     E V E R Y   S I N G L E   investor and miner who doesn't want their money to be debased.

Currency that is not store of value = I sell it today and buy it tomorrow because it'll be cheaper = no reason to hold it.

If you are a bagholder and you don't understand this simple premise, there is nothing I can do.

PS. Run a community poll just to see interest about this proposal of reducing inflation - not as a decision making poll. I'd open it myself but it's better if the devs do it. I don't see why the devs want to listen to the community only in the issue of GPU mining and not in other things regarding coin direction or economic parameters. You are either with the community or you are not. You can't be with the community selectively only in matters relating to ASIC resistance and GPU mining.

Market manipulation via coin payout parameters is nothing I am interested in.

When VTC gets big, I don't want all the early adopters (like myself) getting hood rich while the new miners get screwed.

Right now I make 10x as much merged mining VTC/PLX/MON/(soon more).

Apparently someone with a 750 Ti can mine 3 times faster than my R9 290. An R9 280 mines just as fast as an R9 290.

DRK is broken. It's been out since JAN/FEB and still does not have a fully functional miner for the public.

Someone could have mining software getting 100x speeds and not releasing it. If cards mined at hash rates based on the GPUs specs, I would have some more respect in that regard.

[Kalizar]

We need own vertcointalk.org site I think, where community can share ideas, make different polls and have direct contact with developers.

I can get a myBB forum up fast dedicated for VTC. However, www.vertcointalk.com is taken.

[sammy007]

We need own vertcointalk.org site I think, where community can share ideas, make different polls and have direct contact with developers.

I can get a myBB forum up fast dedicated for VTC. However, www.vertcointalk.com is taken.

BB is boring and boring. This is much more fashionable piece of ruby https://github.com/discourse/discourse

[Kalizar]

We need own vertcointalk.org site I think, where community can share ideas, make different polls and have direct contact with developers.

I can get a myBB forum up fast dedicated for VTC. However, www.vertcointalk.com is taken.

BB is boring and boring. This is much more fashionable piece of ruby https://github.com/discourse/discourse

I could get this running just as easily. I have not operated in forum in a little over 5 years so that's why I threw BB out there.

I have a steady VPS and would pick up the domain if I could. Other than that, we would need a different name to go by.

[silencesilence]

Apparently someone with a 750 Ti can mine 3 times faster than my R9 290. An R9 280 mines just as fast as an R9 290.

what speed reaches 750 Ti ?