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

[BBristow79]

Anyone know when vercoinHeavyIndustries website will be back up and running. Can't get into the chat right now.

I miss the web interface.

[MyFarm]

I'm curious if the Vertcoin developer came up with the modified N factor. I see that microcoin here: https://bitcointalk.org/index.php?topic=397679.0 uses it and I believe they released their coin first. So I'm curious who actually developed it as I'd like to get in touch with them.

Thanks.

[enerbyte]

Anyone know when vercoinHeavyIndustries website will be back up and running. Can't get into the chat right now.

I miss the web interface.

+1 me too!

[Fastpow]

You can download the vector file (Illustrator .ai 8.0) here :

Code:

http://speedy.sh/YwUZb/TotalPanda-Vertcoin-LOGO-Marketing.ai

VTC ==> VcmHpysxjv9vFD6Rk9rwnb1su3Bz7U6ubG 

TotalPanda designed these awesome VTC logo's for future website usage, let's show our gratitude and tip him with some VTC!

[deky_]

You can find Steve Abel the admin on IRC @ #vertcoin and ask for updates

Anyone know when vercoinHeavyIndustries website will be back up and running. Can't get into the chat right now.

I miss the web interface.

+1 me too!

[mega]

I really do like the idea of Vertcoin. Still, two things come to my mind:

1.) Claiming something is "ASIC proof". No algorithm is that. You can always develop an ASIC. GPUs are ASICs, after all. Take the design of a GPU, strip everything not needed for Vertcoin mining and that's your VTC-ASIC. Still, of course, that ASIC would be way more complex than any SHA/BTC ASIC and would require loads of fast memory, thus making it very expensive (compared to SHA and even scrypt/LTC ASICS). But this immediately leads to my second point.

2.) How bad are ASICs after all? With SHA, there is a low entry level for developing an ASIC. With VTC, this "entry barrier" would be much higher. Imagine VTC would be as popular as BTC is now. I'm going to guarantee you that at least one person/group would be into developing a VTC ASIC. But that's the problem: Only few entities would have the funds to do so, much fewer than with Bitcoin. After all, this will lead to more centralization, not less.

I don't like that "hobby mining" is gone in the Bitcoin world, I don't like how much current ASICs are overpriced.

But I still think the Bitcoin network is better off with all the ASICs than the VTC network would be.

But wouldn't the N factor change obligate a new ASIC to be build?

[ghitzafunny]

Cryptoulette now supports Vertcoin....

Cryptoulette.com

100% Provably Fair - ZERO house edge on all payout odds!

Win up to 90,000 LEAF.

[WutriCoin]

Azure Vertcoin Pool

DDOS reisistant P2Pool Node

No registration or minimal payout // PPLNS - Vardiff - Stratum

http://cryptopool.cloudapp.net:9171/

To connect to this P2Pool node simply point your miner at:

URL: stratum+tcp://cryptopool.cloudapp.net:9171
Username: Your vertcoin address
Password: Anything

Sample configuration

cgminer.exe --scrypt -o stratum+tcp://cryptopool.cloudapp.net:9171 -u VbNPoxNeiNg6Bj9RwjjS4GazDbKLgUqNDP -p X

Fast facts

1. P2Pool nodes are all part of one single, big, distributed pool
2. When any p2pool worker on any node finds a block, everyone on all the nodes gets paid their share
3. There is no pool wallet, and hence no payout threshold. Payments go directly to your wallet
4. The distributed nature of p2pool resists DDoS attacks

Decentralize the hashrate!

http://cryptopool.cloudapp.net:9171/

[HinnomTX]

I really do like the idea of Vertcoin. Still, two things come to my mind:

1.) Claiming something is "ASIC proof". No algorithm is that. You can always develop an ASIC. GPUs are ASICs, after all. Take the design of a GPU, strip everything not needed for Vertcoin mining and that's your VTC-ASIC. Still, of course, that ASIC would be way more complex than any SHA/BTC ASIC and would require loads of fast memory, thus making it very expensive (compared to SHA and even scrypt/LTC ASICS). But this immediately leads to my second point.

2.) How bad are ASICs after all? With SHA, there is a low entry level for developing an ASIC. With VTC, this "entry barrier" would be much higher. Imagine VTC would be as popular as BTC is now. I'm going to guarantee you that at least one person/group would be into developing a VTC ASIC. But that's the problem: Only few entities would have the funds to do so, much fewer than with Bitcoin. After all, this will lead to more centralization, not less.

I don't like that "hobby mining" is gone in the Bitcoin world, I don't like how much current ASICs are overpriced.

But I still think the Bitcoin network is better off with all the ASICs than the VTC network would be.

No worries. The coin is software. ASICs are hardware. A simple algorithm tweak proposed by the VTC developers and agreed upon by the community will shake off an ASIC. Even a change to N-factor schedule would wreak havoc on ASIC makers' business plans. As long as Vertans say ASICs are not welcome here, we'll be able to preserve the 'hobby mining' angle for a good while.
 

[BBristow79]

You can find Steve Abel the admin on IRC @ #vertcoin and ask for updates

Anyone know when vercoinHeavyIndustries website will be back up and running. Can't get into the chat right now.

I miss the web interface.

+1 me too!

I can't get onto IRC atm at work. I was hoping that someone had some news they could share.

[Basnoff]

I really do like the idea of Vertcoin. Still, two things come to my mind:

1.) Claiming something is "ASIC proof". No algorithm is that. You can always develop an ASIC. GPUs are ASICs, after all. Take the design of a GPU, strip everything not needed for Vertcoin mining and that's your VTC-ASIC. Still, of course, that ASIC would be way more complex than any SHA/BTC ASIC and would require loads of fast memory, thus making it very expensive (compared to SHA and even scrypt/LTC ASICS). But this immediately leads to my second point.

2.) How bad are ASICs after all? With SHA, there is a low entry level for developing an ASIC. With VTC, this "entry barrier" would be much higher. Imagine VTC would be as popular as BTC is now. I'm going to guarantee you that at least one person/group would be into developing a VTC ASIC. But that's the problem: Only few entities would have the funds to do so, much fewer than with Bitcoin. After all, this will lead to more centralization, not less.

I don't like that "hobby mining" is gone in the Bitcoin world, I don't like how much current ASICs are overpriced.

But I still think the Bitcoin network is better off with all the ASICs than the VTC network would be.

No worries. The coin is software. ASICs are hardware. A simple algorithm tweak proposed by the VTC developers and agreed upon by the community will shake off an ASIC. Even a change to N-factor schedule would wreak havoc on ASIC makers' business plans. As long as Vertans say ASICs are not welcome here, we'll be able to preserve the 'hobby mining' angle for a good while.


Edit: BTW I don't like the asics at all, mostly because of the incredible disruption they caused. There are not many companies that can make asics this complex, and when they do have working units they extensivly 'test' them before they ship them out. That's what I think BFL and such did.
  

HinnomTX,

ShadesOfMarble does have a point though, IMO. Asics (and FPGAs) are sort of in between hardware and software. The GPU (the core itself) is basically an ASIC. With lots of functionality that's not required for mining.

So if you could strip the unneeded parts from a graphicscard's GPU you could create an mining-specific PCB with a higher efficiency and probably lower power requirements. And you could change the N-factor just as easily.

I think that would would require an incredible amount of engineering though, you'd be doing AMD's and Nvidia's work basically. To me that doesn't sound feasible.

Unless AMD and Nvidia themselves would start producing those miners. Then again, the downside of anything application specific is that they're completely useless if this whole *coin-world collapses.

I don't think that will happen, but for a company this is probably a big risk.

[goin2mars]

You can find Steve Abel the admin on IRC @ #vertcoin and ask for updates

Anyone know when vercoinHeavyIndustries website will be back up and running. Can't get into the chat right now.

I miss the web interface.

+1 me too!

I can't get onto IRC atm at work. I was hoping that someone had some news they could share.

If it's any reassurance for you, I emailed the autoconfirm account last night. It was monitored luckily. Here's what I got back in reply:

I do have good news for you, the website really is done for your
protection. My task tonight and maybe tomorrow is to inspect the mpos
code base and find where the hack occurred.

Until I feel confident the site is safe we'll continue to run without
the interface.

So if that's enough for you, after hearing it from someone you don't know who heard it from someone they don't know then continue on!


EDIT: the hack he was referring to was KILOVOLT, not heavyindustries

[blacklig]

I'm curious if the Vertcoin developer came up with the modified N factor. I see that microcoin here: https://bitcointalk.org/index.php?topic=397679.0 uses it and I believe they released their coin first. So I'm curious who actually developed it as I'd like to get in touch with them.

Thanks.

Micro Coin uses Jane scrypt.. its different from this one.. Jane scrypt was applied in YAcoin and Applecoin as well.. But problem there is that diff  increases very quickly and mining doesnt make much sense.. at begining here you mine very quickly and within weeks your hashrate drops dramatically.. so miners move away and it kills coin..

here at VTC we dont have this problem.. it is resistant against ASIC already, but nfactor is not going to change that fast, also it did not started on any low value as jane scrypt does..

bottom line is, VTC algo is so far best at crypto.. ok?

[Basnoff]

I'm curious if the Vertcoin developer came up with the modified N factor. I see that microcoin here: https://bitcointalk.org/index.php?topic=397679.0 uses it and I believe they released their coin first. So I'm curious who actually developed it as I'd like to get in touch with them.

Thanks.

Micro Coin uses Jane scrypt.. its different from this one.. Jane scrypt was applied in YAcoin and Applecoin as well.. But problem there is that diff  increases very quickly and mining doesnt make much sense.. at begining here you mine very quickly and within weeks your hashrate drops dramatically.. so miners move away and it kills coin..

here at VTC we dont have this problem.. it is resistant against ASIC already, but nfactor is not going to change that fast, also it did not started on any low value as jane scrypt does..

bottom line is, VTC algo is so far best at crypto.. ok?

Lol, a while ago I figured it would be a good idea to mine scrypt-coins of the GPUs and let the CPU mine YaCoin... Turned out to be a bad idea.

[techstorm2]

Not sure if this is an issue, im mining on CPU and GPU, cgminer, been mining with 500mhash for a few hours and only getting small amounts of vert, also cgminer doesnt show any accepted.

[tsh]

ShadesOfMarble does have a point though, IMO. Asics (and FPGAs) are sort of in between hardware and software. The GPU (the core itself) is basically an ASIC. With lots of functionality that's not required for mining.

I think this misses the reason that mining specific ASIC are efficient. The GPU core is a parallel vector compute engine, in effect a specialised CPU. I'm not sure that there is a big overhead on a graphics card (above a few $$ driver chips) which could be saved. The power benefit of a SHA or SCRYPT ASIC comes from the fact that they are not programmable. The single function that they compute is hard-wired (hence it is impossible to re-target them effectively). The same reasoning is behind ASIC being more efficient than FPGA (although the mechanism is different). Silicon resource that is not used 100% every cycle is a cost - but is needed if you need to support configurable algorithms.
An algorithm which pushes the energy cost almost completely to pushing data through RAM will further reduce the benefit to be made by doing the compute side efficiently.

[steve_abel]

Anyone know when vercoinHeavyIndustries website will be back up and running. Can't get into the chat right now.

I miss the web interface.

Last night I completed the sql portion of my inspection which did not turn up an obvious vulnerability. Now I'm waiting on sk__ to go over the logs after the hack. My hope is he'll be able to identify what happened by reconstruction. Meanwhile I'm inspecting the user input handling code.

If nothing else I now have a few ideas on how I can improve mpos's performance.

[Basnoff]

Not sure if this is an issue, im mining on CPU and GPU, cgminer, been mining with 500mhash for a few hours and only getting small amounts of vert, also cgminer doesnt show any accepted.

500 *Mega*H/S? I'm guessing you mean kH/s. Your CPU probably isn't doing anything useful. You should be getting around 3 VTC over 24 hours, so small aounts of VTC sounds good..

Cgminer won't do anything useful if it's the standard cgminer you're talking about. Don't you mean vertminer?

[ithd]

Anyone else not able to update account info on vtc.kilovolt.co.uk? I'm trying to put in a payment address, but it keeps giving me a "Failed to update your account" message.

[TEX_Coin]

Can anyone shed any light on how to safely store VTC for the long term? Since VTC is so new, any wallet research I can find for things such as brainwallet.org does not list VTC yet among their coin options for creating wallet address with phrases. One tutorial I saw on youtube seemed very solid, and utilized the idea of booting your computer from disc or USB using Ubuntu as a temp OS in order to create your wallet and security info- so that computer and internet were removed from the equation. (but I think it was only for BTC) Other than backing up my VTC client wallet to USB, and also encrypting with a pass phrase- that is all I can see so far. Not a big concern now, but it could be an issue down the line since I plan to sit on my mining efforts for the long haul. Please let me know what anyone else out there is doing regarding security- I have only been in the mining game for about 6 weeks!