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

[rapsac]

Well, i think if they approach dangerous hashing levels they will be detected and forked. A little asic action should not hurt the coin?

[leckey]

Again, in case anyone missed it, I present to you, a new block explorer: http://vertexplorer.com

[PoolMingo]

New rewarded block with 20 VTC found at http://vertcoin.mingopool.com Total earnings = 40.03 VTC Please Ragulka contact me with a PM or pool adress thank you!

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[aleks648]

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Aleks_N

[frooggync]

Time Since Last Block   92 hours 16 minutes 42 seconds

On kilovolt pool.  Seem right?

[OPTiK]

At that time everyone will have ASIC chip in their tablets to help process transactions.
VTC is the only coin with devs laying out plan from the beginning to fight against ASIC.
I havent seen other coin devs mention they realize an active defense against ASIC is necessary.
Elitism is bad, so ASIC is bad for now before VTC goes mainstream.
My 2c.

+1.
Vertcoin developers are the only ones who said that they are ready to change POW function for VTC if ASICs will threaten VTC.
I sold 350+ LTC and bought 3700+VTC.

This is no guarantee. If Vert, says, attain Litecoin #2 status and goes to, say, 100-200-500mn market cap, an ASIC manufacturer could create 100 VTC asics and never announce them as such but simply use them to gain an enormous share from the mining (that more than pays out his own development cost). He'd simply spread his hashpower around to various pools so that his hashpower doesn't seem very concentrated, and then rape the network while everyone is thinking that its just GPU-farms hashrate since "there are no ASICs".

What then? If there are no announced asics how can the devs take the initiative to proceed to a hardfork? Based on what? The mere suspicion that there are ASIC miners out there in the wild?

So you're saying that a company would be able to hide the hash rate needed to profit on millions of dollars invested within a ~2 year period before N changes while simultaneously out-hashing a good portion of the network? 

[rapsac]

Again, in case anyone missed it, I present to you, a new block explorer: http://vertexplorer.com

Looking nice!

Here's my (hot) wallet to show i'm all in vert: http://vertexplorer.com/address/VcduRe3iQZfPPQxuJaxqPdVSqoGyDUar21

[Wirly]

At that time everyone will have ASIC chip in their tablets to help process transactions.
VTC is the only coin with devs laying out plan from the beginning to fight against ASIC.
I havent seen other coin devs mention they realize an active defense against ASIC is necessary.
Elitism is bad, so ASIC is bad for now before VTC goes mainstream.
My 2c.

+1.
Vertcoin developers are the only ones who said that they are ready to change POW function for VTC if ASICs will threaten VTC.
I sold 350+ LTC and bought 3700+VTC.

Thats the problem right there. Litecoin devs also said their coin was asic resistant. Maybe they didn't say they would ever change to a different PoW when the neede arises, but whats in a word? History shows that coins once released do not get updated very often if at all. What happens in 2 years from now? And 5? I say stop with talks and act. Prepare for a fork beforehand because the need to fork is inevitable. Only when the coin's users and the asic developers know for sure that no asic will be allowed in now or in the future is a coin asic resistant/proof.

I don't think it is correct to say other developers have not planned for asic. Some new coins are much more aggressive in dealing with this issue and the problem is handled as best can be so far from the coins launch. I shall not name names because I am not trying to hijack your thread.

And I think that talking about a hardfork of any coin pretty much means that coin already has death hanging over it. Basically a hardfork is just creating a new coin because the old one is not working. So far adjustable n-factor of any scrypt coin seems to be the temporary solution. VTC was unique in this way but any coin with increasing n-factor means it is just a matter of time before its memory requirement is more suited to cpu mining. No one seems to mention the increasing speed of cpu and faster dram coming to market, where will this be in 2-5 years?

[rapsac]

I don't think it is correct to say other developers have not planned for asic. Some new coins are much more aggressive in dealing with this issue and the problem is handled as best can be so far from the coins launch. I shall not name names because I am not trying to hijack your thread.

And I think that talking about a hardfork of any coin pretty much means that coin already has death hanging over it. Basically a hardfork is just creating a new coin because the old one is not working. So far adjustable n-factor of any scrypt coin seems to be the temporary solution. VTC was unique in this way but any coin with increasing n-factor means it is just a matter of time before its memory requirement is more suited to cpu mining. No one seems to mention the increasing speed of cpu and faster dram coming to market, where will this be in 2-5 years?

The increasing speed of computers is factored in in the N-schedule. But what the future brings is anyone's guess.

Why in F4cks sake would a hardfork kill a coin? Yes, you create a new coin technically speaking, but that does not mean the old coin is 'broken'. In this case it would be no more than maintanance to stay true to its specifications.

The moment i doubt the asic resistance of this or any future coin i will dump the shit out of it. If i want a asic-raped coin i''ll stay with bitcoin and hope for the best. There has not been any coin including bitcoin that has seriously considered and chosen to stay true to its claims and the users, and i'm fed up with this.
So i would appreciate some planning ahead. There is none at the moment. Heck, on vertcoin.org there is no word on the possibility of a fork, just the hope scrypt-n will keep asics out. For how long? 1 Year? 2? I bet its no more than 1 year. What will happen then? What is the plan? Can we be informed before this happens? Will vertcoin communicate its stand publicly? Will vertcoin when push comes to shove do the 'right' thing? We are at a defining moment in time to make vertcoin future proof, and i don't want to see it turn into yet another fire and forget coin.

[aleks648]

Time Since Last Block   92 hours 16 minutes 42 seconds

On kilovolt pool.  Seem right?

yeah we are getting hammered on variance at the moment.  The pool is working correctly, just need more hash, hence 50% block finder bonus https://vtc.kilovolt.co.uk

[roy7]

For anyone mining on public p2pool nodes, I updated the interface on my US-East node to have a miner-specific graph and some miner-specific stats if you click your address on the miner list on bottom. Want to expand that miner page quite a bit moving forward.

[forzendiablo]

i doubt VRT will ever raise from this price

[dvdemecillo]

i doubt VRT will ever raise from this price

perhaps not "VRT" but maybe VTC will

[PoolMingo]

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[Spoetnik]

bump because i have 1 btc worth of these and i am mining them
but seriously i think the fact that is close enough to scrypt but different is a good thing.
Scrypt is actually a good algo.

i have no clue who made this coin and i showed up late to getting involved with it.
And for all i know i am supporting a coin cloner here that i have bitched out on 12 other coins lol
I know NOTHING about who made this coin (which goes against my golden rule)
But these guy or guy(s) obviously take this with a degree of seriousness that is a minimum requirement.
sorry My Little Pony or Flappy Coin or Rabbit Coin or Doge coin or or or

But this one stands out against the Quark variants because it's a tough hashing algo
it's going to be more botnet resistant so that with asic resistance (something X11 coins love to ignore)
mean it kicks the shit out of Dark coin and all it's X11 brand name clones..

I am all for a good product and nothing else matters..
For example brand name Kraft Dinner is dog shit but i don't mind some of the no name variants once or twice a year lol
And X11 is a popular brand name and i prefer a better Quality product so..
Darkcoin is the Kraft Dinner of ALT's lol

[AlexGR]

At that time everyone will have ASIC chip in their tablets to help process transactions.
VTC is the only coin with devs laying out plan from the beginning to fight against ASIC.
I havent seen other coin devs mention they realize an active defense against ASIC is necessary.
Elitism is bad, so ASIC is bad for now before VTC goes mainstream.
My 2c.

+1.
Vertcoin developers are the only ones who said that they are ready to change POW function for VTC if ASICs will threaten VTC.
I sold 350+ LTC and bought 3700+VTC.

This is no guarantee. If Vert, says, attain Litecoin #2 status and goes to, say, 100-200-500mn market cap, an ASIC manufacturer could create 100 VTC asics and never announce them as such but simply use them to gain an enormous share from the mining (that more than pays out his own development cost). He'd simply spread his hashpower around to various pools so that his hashpower doesn't seem very concentrated, and then rape the network while everyone is thinking that its just GPU-farms hashrate since "there are no ASICs".

What then? If there are no announced asics how can the devs take the initiative to proceed to a hardfork? Based on what? The mere suspicion that there are ASIC miners out there in the wild?

So you're saying that a company would be able to hide the hash rate needed to profit on millions of dollars invested within a ~2 year period before N changes while simultaneously out-hashing a good portion of the network? 

The cost is not in the many-million dollar range, the gain could be potentially far bigger and an ASIC farm doesn't really need to outhash the network, just go for a 20-30% of it and benefit accordingly.

If scrypt-n coins are spewing, say, 1000 btcs per day in mining output and someone gains 20-30% of them while masquarading as GPU farms that switched from scrypt, it's millions of USD per month.

[BorisTheSpider]

Will vertcoin communicate its stand publicly? Will vertcoin when push comes to shove do the 'right' thing?

I don't know how many times we have to publicly say "VTC will hardfork if necessary to keep ASICs out" - we must have said it a hundred times!

I'll say it again, in case repetition number 101 will help - VTC will hardfork if that every becomes necessary to keep ASICs out. This isn't LTC, we're not going to suddenly decide to give up and capitulate in the face of a need to hardfork, we will do whatever is necessary to keep VTC decentralised and in part that means excluding ASICs by whatever means necessary.

[layyen]

Pay Per Share

PPS MINING POOL

VERT.COMPOSEDCHAOS.NET
https://vert.composedchaos.net
Click Above

you have updated stratum address, can we use "old" one vert.compo... as backup, or you are going to removet when everybody migrate... ?
thanks
p.s. I like your pool

[rapsac]

Will vertcoin communicate its stand publicly? Will vertcoin when push comes to shove do the 'right' thing?

I don't know how many times we have to publicly say "VTC will hardfork if necessary to keep ASICs out" - we must have said it a hundred times!

I'll say it again, in case repetition number 101 will help - VTC will hardfork if that every becomes necessary to keep ASICs out. This isn't LTC, we're not going to suddenly decide to give up and capitulate in the face of a need to hardfork, we will do whatever is necessary to keep VTC decentralised and in part that means excluding ASICs by whatever means necessary.

Don't get me wrong, but i have heard you say this as often as you said this
Just include

VTC will hardfork if that every becomes necessary to keep ASICs out. This isn't LTC, we're not going to suddenly decide to give up and capitulate in the face of a need to hardfork, we will do whatever is necessary to keep VTC decentralised and in part that means excluding ASICs by whatever means necessary.

on a prominant place on vertcoin.org. Use it to get more ex-ltc supporters and maybe even some coders on our side. You can't get better free exposure than with this right now.

[dotcoin.info]

bump because i have 1 btc worth of these and i am mining them
but seriously i think the fact that is close enough to scrypt but different is a good thing.
Scrypt is actually a good algo.

i have no clue who made this coin and i showed up late to getting involved with it.
And for all i know i am supporting a coin cloner here that i have bitched out on 12 other coins lol
I know NOTHING about who made this coin (which goes against my golden rule)
But these guy or guy(s) obviously take this with a degree of seriousness that is a minimum requirement.
sorry My Little Pony or Flappy Coin or Rabbit Coin or Doge coin or or or

But this one stands out against the Quark variants because it's a tough hashing algo
it's going to be more botnet resistant so that with asic resistance (something X11 coins love to ignore)
mean it kicks the shit out of Dark coin and all it's X11 brand name clones..

I am all for a good product and nothing else matters..
For example brand name Kraft Dinner is dog shit but i don't mind some of the no name variants once or twice a year lol
And X11 is a popular brand name and i prefer a better Quality product so..
Darkcoin is the Kraft Dinner of ALT's lol

what the hell are you talking about?

which coin are you for?  you puzzled every one here