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

[BorisTheSpider]

Great news...! but You should implement KGW sooner, like 2-3 days. (expect hashrate to drop on next retarget if this coin stop being most profitable [price doesn't increase]).

Thanks for your input. Basically, the timescales in the poll are the extremes of what we are considering - we want there to be time for users, and especially pool operators, to get the wallet updated pre-fork, so there is no disruption. For that reason I don't think we will be looking at times shorter than a week, but we will be moving fast to get the new wallet available early next week, so the fork will actually happen sometime between the 4th and 11th of February.

[micryon]

mining and holding here...

[gonzzo]

Great news...! but You should implement KGW sooner, like 2-3 days. (expect hashrate to drop on next retarget if this coin stop being most profitable [price doesn't increase]).

Thanks for your input. Basically, the timescales in the poll are the extremes of what we are considering - we want there to be time for users, and especially pool operators, to get the wallet updated pre-fork, so there is no disruption, so I don't think we will be looking at times shorter than a week, but we will be moving fast to get the new wallet available early next week.

good news, thanks for the eta on the wallet update now we can plan ahead

[fpoint1]

Your coins are safe - nothing drastic will happen, and all your funds will remain valid.

You will not need to update your miner, but the pools will need to update their wallet. You will also need to update your own wallet.

You can update in advance, so you won't have any downtime or anything, and all your coins will still be valid, whether mined before or after the fork.


So the process is:

1. We release a new wallet

2. There is a period between the new wallet release, and the actual fork happening (the new wallet contains _both_ difficulty algorithms, and changes over at a predetermined time (or more accurately, at a predetermined block height).

3. The fork happens without anyone knowing anything happened, except the difficulty adjustment becomes better

The reason for the gap between 1 and 3 (the time period we're asking people to vote on in the poll) is just to allow time for everyone to update so the fork is seemless - if you didn't update, on fork day, your wallet would not sync the blockchain post-fork. It wouldn't drastically break anything - you could still update to the new wallet and everything would start working again with no loss of coins or anything, it would just be disruptive so we want to plan so everything is seamless.

As always, please ensure your wallet is backed up, not just because you're installing an update but because it should _always_ be backed up, preferably in multiple different physical locations.

Maybe Vertcoin should post it on first page with bold font to avoid panic and thousands of such questions? Especially the first part about the safety of coins. 

[BorisTheSpider]

Maybe Vertcoin should post it on first page with bold font to avoid panic and thousands of such questions? Especially the first part about the safety of coins. 

Yes I'll ask him to emphasise the safety of coins in the OP next time I speak to him.

[mik_druid]

Mining , holding, buying! Best wishes for VERTcoin!

[Freekje]

Is different gpu-threads in the same mining instance supported ?
Cause I cant get 7970/270 towork, 270 alone works and 7970 works alone

[BorisTheSpider]

Is different gpu-threads in the same mining instance supported ?
Cause I cant get 7970/270 towork, 270 alone works and 7970 works alone

There's a GPU settings thread at https://bitcointalk.org/index.php?topic=416572

[BorisTheSpider]

Keep asking at https://bitcointalk.org/index.php?topic=291647.0 if you want to trade VTC at Coinex.pw

[cashclash]

I could bite myself for not sticking to VTC but hey who doesn't and its still pretty easy to mine Vertcoin
I will be holding this one for a log time!

[moonbat]

VTC - MINE AND HOLD !

Love your sig!

Me too. 

Me three!

[BorisTheSpider]

IMPORTANT NEWS

Big things have been happening behind the scenes in the Vertcoin developer IRC channel, and we are now at a point of being able to tell you all what's been going on.

There has been feedback from users on 2 points that we wanted to address and respond to.

1. The N-Factor schedule, which some people feel is too aggressive and might unfairly squeeze out older GPUs in future as N-factor increases.

2. The difficulty adjustment algorithm, with 3.5 day difficulty retargeting, which users felt (myself included) could be vulnerable to leaving us stranded at high difficulty if a multipool merges the VTC mining patches into a mining client, then leaves the network after a period of high profitability, greatly decreasing hashrate and leaving Vertcoin stranded with long block times, leaving the core VTC miners to mine through a long unprofitable period to get back to 2.5 minute blocks.

We have been testing and validating, and we're now ready to make 2 major changes:

1. Difficulty adjustment will now use the Kimoto Gravity Well, which retargets every block and copes extremely well with periods of hashrate volatility. The KGW is production proven in Megacoin, Anoncoin, RonPaulCoin and others - it is the best of the best, and we're going to see it in VTC soon. (See the poll linked below for a link to a good explanation of what the KGW is/does).

2. N-factor changes will occur on a schedule somewhere between every 18 months and 2-years.

We'd like you all to help us decide:

1. Exactly what N-factor schedule should be used

2. How long we should wait to fork to KGW difficulty adjustment.

Please participate in the two polls linked below:

KGW implementation date poll: https://bitcointalk.org/index.php?topic=431104.0

N-Factor scheduling poll: https://bitcointalk.org/index.php?topic=431092.0



Please note, the change will be non-disruptive; all coins mined before the fork will remain valid afterwards and the network will continue to operate normally.

[kurdun]

We need update wallets? My connect to network but don't synchronize.

p.s. I'm make -rescan & ok.

[organizer]

IMPORTANT NEWS

What does this mean in relation to the current coin difficulty? Is it a hard reset from where we are now or will this update just maintain the current difficulty? Kinda would like to know this.

[bengtåke]

I am testing your pool and getting the same two lines every couple of seconds.
 

• Pool 0 difficulty changed to (value)
• Stratum from pool 0 requested work restart

Not sure why or what to do.

same for me

Work restart means that the vertcoin network found a new block and it is usually normal, but you shouldn't be seeing it every few seconds unless the vertcoin network is getting really lucky with blocks.. But the current hashrate is high in relation to the current difficulty so blocktimes are faster than usual. Anyway, the p2pool is separate from the normal blockchain, you can read more here https://en.bitcoin.it/wiki/P2Pool

I've updated the site with an FAQ: http://p2pool.etyd.org:9171/static/

[blacklig]

Everyone could add to his signature this text:
VTC will replace BTC. No ASICs. No centralized cryptocurrency emission. No 51% attack. YES FUTURE ! YES FREEDOM ! YES VTC !

if you are doing such nice thinkg as promoting VTC in your signature, you should at least put anchor linking to the first page of this thread on it..

[blacklig]

What happened with voting on cryptsy?

"official" link goes here https://cryptsy.freshdesk.com/support/discussions/topics/64057/
and there only is 1 person "liking" it?? There were like 130 votes yesterday I think.. and now its gone? Some mistake?

edit: ok, few minutes later I already see all 142 ppl liking the idea.. so must had been some error on cryptsy side for a while, which is not anything surprising

[kb24mvp]

I think this coin has potential but I have a quick question

This is basically supposed to be litecoin replacement because of the N factor right.... but can't litecoin just implement that into their coin as well and it would basically have no difference vs this coin thus no difference for people to abandon LTC and come to this coin?

[minero1]

Mining , holding, buying! Best wishes for VERTcoin!

how? i want to buy VTC with BTC but there is no such option in coinedup. Could you please explain where or how are you buying?

[minero1]

IMPORTANT NEWS

There has been feedback from users on 2 points that we wanted to address and respond to.

1. The N-Factor schedule, which some people feel is too aggressive and might unfairly squeeze out older GPUs in future as N-factor increases.

2. The difficulty adjustment algorithm, with 3.5 day difficulty retargeting, which users felt (myself included) could be vulnerable to leaving us stranded at high difficulty if a multipool merges the VTC mining patches into a mining client, then leaves the network after a period of high profitability, greatly decreasing hashrate and leaving Vertcoin stranded with long block times, leaving the core VTC miners to mine through a long unprofitable period to get back to 2.5 minute blocks.

Hard cap too low! you have received feedback for that too!!

With DOGE's success (and similar others) i think it is safe to say there is NO point in making a coin rare or scarce, what helps against inflation is not the amount of coins in circulation but the rate of minting against a given market cap. The only thing achieved with a low cap is a pricey coin which in my opinion is not good for the coin in the long term.

Please, also increase the amount of coins. We want to trade in INTEGERS, not in 8 decimal places (bitcoin) or any other amount higher than 2 decimal places.