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

[Psynthax]

Here's a quick update for those interested.

One thing on the horizon for Vertcoin in terms of new features is stealth addresses (anonymous transactions).

I am worried about legal implications..  isn`t it better to have "3rd party" solutions like dark wallet, etc?

[ymer]

I have no idea why the price dropped but I think I should buy just in case.

[silencesilence]

I have no idea why the price dropped but I think I should buy just in case.

+1
today I make a good deals in cryptsy

would be nice to see VTC / USD

- btc-e.com
- kraken.com

or
Asia market with good marketing

[soulnecturn]

I have no idea why the price dropped but I think I should buy just in case.

Well, I suspect that someone for NOW trying to keep the price low... look at order book carefully... generally between 195k satoshi and 182k satoshi there are small amounts 0.1-5 vtc placed by someone JUST to hide the big break between real value and the higher... Some getting on this trap and selling own coins that cheap ...
If I had to guess its an action to keep for w whole lower price so hashrate wont spike to much yet ... so we all can mine little more on this still low hashrate Pretty good sign but better if this wont be done to long as some real investors (not wales who just buy to sell after moment etc) might miss vert...

Another thing is this new coin MON added to vert. Still many, many dont know simply what to think about it under matter of how price will go on ...
I just fully hope that there wont be thinking that MON is part of vert and price must be spread on them ... just hope this wont be the way of thinking

Anyway ... If i had any btc left... anything .... for sure I would jump to buy more at this 180k satoshi values ... I dont think price will spark like x2/x3/x4 etc soon just like that ... but I am pretty sure that within days/weeks more will be joining vert and merged mining (still so many gpu users dont see vert which is odd...) and then price wont stay at so low ...

Thats my general thinking - without taking into consideration other aspects of vertcoin as coin itself Just raw thinking

[silencesilence]

I have no idea why the price dropped but I think I should buy just in case.

Well, I suspect that someone for NOW trying to keep the price low... look at order book carefully... generally between 195k satoshi and 182k satoshi there are small amounts 0.1-5 vtc placed by someone JUST to hide the big break between real value and the higher... Some getting on this trap and selling own coins that cheap ...
If I had to guess its an action to keep for w whole lower price so hashrate wont spike to much yet ... so we all can mine little more on this still low hashrate Pretty good sign but better if this wont be done to long as some real investors (not wales who just buy to sell after moment etc) might miss vert...
Another thing is this new coin MON added to vert. Still many, many dont know simply what to think about it under matter of how price will go on ...
I just fully hope that there wont be thinking that MON is part of vert and price must be spread on them ... just hope this wont be the way of thinking
Anyway ... If i had any btc left... anything .... for sure I would jump to buy more at this 180k satoshi values ... I dont think price will spark like x2/x3/x4 etc soon just like that ... but I am pretty sure that within days/weeks more will be joining vert and merged mining (still so many gpu users dont see vert which is odd...) and then price wont stay at so low ...
Thats my general thinking - without taking into consideration other aspects of vertcoin as coin itself Just raw thinking

new miners can only come if there is a big jump in price
would be nice to see after one month price of 0.06
(sometimes these jumps are useful for a coin, because the weak hands sold the coin in a strong hands - Look what happened last time at BTC and LTC)

If the price increase then many new miners who have started their mining activities in recent months to join in the VTC + MON

This will entail a
- Decentralised coin
- A higher degree difficulty and more secure network
- VTC and MON will be as many hands - which will not lead to many Pump and dump - which is even better for serious investors
- More new people will be talking about the coin
- More marketing by the holders of these coins
- New ideas from fresh new users

People now only target pump and dump coins they are looking for quick money before they came SCRIPT ASIC market

VTC MON developers are very serious, it can be seen in the last few months, they for a moment did not stop to think about new things about these coins

I predict in about six months stable price of 1 VTC - 0.01

You just need everyone to participate more actively

And of course the developers to find the best innovations that until now have not appeared on any coin. - We need to be unique .... Program code is is just there you have to Assemble

NOW I MINING VTC and MON in p2p

[Joe9]

I don't see the point, well maybe one, of holding onto GPU rigs even if is for Scrypt-n. Right now I can mine Scrypt altcoins on a multipool with ASICs that auto converts to VTC. For this reason I'm thinking of reducing the number of GPU rigs and just getting more ASIC sometime in June. The one thing that's stopping me from pulling that trigger is to wait and see how the adoption of side-chains pan out. I'm not dead-set in this personal point of view otherwise I wouldn't be posting in a forum to hear counter ideas. Monocle is an amazing working proof of concept. Much respect to the coders.

General big picture musings:
I'm a fan of Vertcoin. With the developers and growing mindshare I can't see how it won't continue to gain more acceptance. A trifecta of SHA256, Scrypt, and Scrypt-n is a good thing for the cryptocurrency ecosystem. Don't create imaginary boundaries in your head between the 3 because one flows into the other which can flow into the next and back again. The word 'currency' is exactly that, the flow, the current. In the end they will all help to strengthen each other. The creation of side-chains is, I think, a response to the exclusivity of hash power, ie competing for hash rates. I think more folks in this space are realising that inclusivity is far more advantageous. We are not competing with each other, we are trying to undermine (pun!) the arseholes like paypal, credit card companies, and western union to name but a few.

Vertcoin has already been mentioned on Cavirtex (the real Canadian one) to be added into the main exchange in an email sent out to all Cavirtex members. I also voted for it to be added into the exchange, a linked poll in the email, as I'm sure many others have too. Although I'm not a fan of the suits in charge of Cavirtex.

Current status:
As always, cautiously optimistic

[nwoolls]

If anyone is interested in testing Vertcoin support in MultiMiner there's a post with info here:

https://bitcointalk.org/index.php?topic=248173.msg6518721#msg6518721

[ivanlabrie]

If anyone is interested in testing Vertcoin support in MultiMiner there's a post with info here:

https://bitcointalk.org/index.php?topic=248173.msg6518721#msg6518721

Excellent news!

[xingqiaoyin]

Devs , a group of investors have come up with vertpay what is your take on this ?

[Kalizar]

Devs , a group of investors have come up with vertpay what is your take on this ?

I would be careful with that. Have seen a lot of scams follow the same procedure...

[styxical]

I don't see the point, well maybe one, of holding onto GPU rigs even if is for Scrypt-n. Right now I can mine Scrypt altcoins on a multipool with ASICs that auto converts to VTC.

The point of holding onto GPU rigs, as has always been vert's mantra, is to maintain decentralization. You bought your ASICs from where? One of 3 companies that produces the ASICs, who each run their own mining warehouse? These companies effectively hold the keys to any currency which they produce ASIC for (they effectively push all other players out of the game). If they are generous, they will share this key with you.

On the flip side, with GPUs? Anyone can buy them from any of hundreds of locations online or in a store. More people can mine = network is more spread out = has fewer points of failure. The cost to get started mining is extremely low - some people can start with hardware they already have. AMD and NVIDIA do not have warehouses full of mining operations which push little fish out of the mining scene. In all cases, with GPUs, you are not RELYING ON SOMEONE ELSE to give you the key to the currency.

[dotnetmin]

I don't see the point, well maybe one, of holding onto GPU rigs even if is for Scrypt-n. Right now I can mine Scrypt altcoins on a multipool with ASICs that auto converts to VTC. For this reason I'm thinking of reducing the number of GPU rigs and just getting more ASIC sometime in June. The one thing that's stopping me from pulling that trigger is to wait and see how the adoption of side-chains pan out. I'm not dead-set in this personal point of view otherwise I wouldn't be posting in a forum to hear counter ideas. Monocle is an amazing working proof of concept. Much respect to the coders.

General big picture musings:
I'm a fan of Vertcoin. With the developers and growing mindshare I can't see how it won't continue to gain more acceptance. A trifecta of SHA256, Scrypt, and Scrypt-n is a good thing for the cryptocurrency ecosystem. Don't create imaginary boundaries in your head between the 3 because one flows into the other which can flow into the next and back again. The word 'currency' is exactly that, the flow, the current. In the end they will all help to strengthen each other. The creation of side-chains is, I think, a response to the exclusivity of hash power, ie competing for hash rates. I think more folks in this space are realising that inclusivity is far more advantageous. We are not competing with each other, we are trying to undermine (pun!) the arseholes like paypal, credit card companies, and western union to name but a few.

Vertcoin has already been mentioned on Cavirtex (the real Canadian one) to be added into the main exchange in an email sent out to all Cavirtex members. I also voted for it to be added into the exchange, a linked poll in the email, as I'm sure many others have too. Although I'm not a fan of the suits in charge of Cavirtex.

Current status:
As always, cautiously optimistic

I am not sure if i would invest in asics. Since they are onto the network LTC Nethash goes from 85gh to 220gh and the really big ones are not shipped out yet.
Maybe the producers of the chips mine out all the shit before they make the second time cash on the enduser and ship the miners.
Maybe your ROI goes up to a year or you never get back your invest. LTC for me will be milked like nothing else, as everybody want to get beack his money.
Since the ASICs are on the net LTC price has a steady decline. Who should buy all these mined LTC. In my beginning i want to baghold LTC, mine other alt coins and exchange them to LTC. By now i see  no reason to hold LTC. Because i am already into a big loss since i started 6 months ago for me it doesen´t matter if i lost 80% or 100%. My conclusion - stay on VTC because devs said they want to fight agianst asics with all possibilities they have and also stay on coins with anonymos transactions as DRK promises to do.
Someone here posted that also VTC tryies to do something anomymos, that would be great. Dezentralation and anonymos transactions - thats it.
Most of us all dont want to do illigal things with such a payment system. Free citicens need a free money without beeing glass to our governments.

[Maestro1]

I don't see the point, well maybe one, of holding onto GPU rigs even if is for Scrypt-n. Right now I can mine Scrypt altcoins on a multipool with ASICs that auto converts to VTC. For this reason I'm thinking of reducing the number of GPU rigs and just getting more ASIC sometime in June. The one thing that's stopping me from pulling that trigger is to wait and see how the adoption of side-chains pan out. I'm not dead-set in this personal point of view otherwise I wouldn't be posting in a forum to hear counter ideas. Monocle is an amazing working proof of concept. Much respect to the coders.

General big picture musings:
I'm a fan of Vertcoin. With the developers and growing mindshare I can't see how it won't continue to gain more acceptance. A trifecta of SHA256, Scrypt, and Scrypt-n is a good thing for the cryptocurrency ecosystem. Don't create imaginary boundaries in your head between the 3 because one flows into the other which can flow into the next and back again. The word 'currency' is exactly that, the flow, the current. In the end they will all help to strengthen each other. The creation of side-chains is, I think, a response to the exclusivity of hash power, ie competing for hash rates. I think more folks in this space are realising that inclusivity is far more advantageous. We are not competing with each other, we are trying to undermine (pun!) the arseholes like paypal, credit card companies, and western union to name but a few.

Vertcoin has already been mentioned on Cavirtex (the real Canadian one) to be added into the main exchange in an email sent out to all Cavirtex members. I also voted for it to be added into the exchange, a linked poll in the email, as I'm sure many others have too. Although I'm not a fan of the suits in charge of Cavirtex.

Current status:
As always, cautiously optimistic

Let me tell you what will happen when ASICs are mainstream:

ASICs will rule the Scrypt mining ecosystem, the same way that they do on BTC now.
The difficulty of the Scrypt coins will increase, whereas the number of people who mine them will decrease.
Those GPU miners will leave Scrypt for the **ASIC Resistant** coins, such as VTC, UTC, EXE.
The difficulty on those ASIC Resistant coins will increase, so does the number of people who mine them.
As demand for Scrypt coins goes down, the price also goes down, because even though difficulty is high, it's still **really** low per the number of people who mine them.
Multipools will dump Scrypt coins to buy ASIC Resistant coins or PoS coins, but in the meantime, the difficulty of those ASIC Resistant coins is high with a high number of miners, this would derive their price high.

=> Investing in ASICs = Buying expensive hardware to mine cheap coins, in order to swap them with expensive coins. Bad investment. I think GPU mining will NEVER be more profitable than when ASICs come out.

[Joe9]

Apologies for wall of text and ramblings.

Great responses! And something to mull over. You guys have been in this game longer than me so it's great to hear your thoughts. I'm just trying to grasp why a large company wouldn't just buy/create a large GPU farm. These guys have millions if not tens of millions to spend, and I don't think the issue of ASIC vs GPU would come up except for power consumption. That becomes a moot point too when you find out they have a 200KW solar/wind/thermal farm running everything as well. I'm not saying that's what will happen but if I can think of this I'm sure they can to? Although I think there is a coin technology being developed to normalize hashrates in a progressive way from the cpu miners all the way to the big farms.

I'm looking at the A2 22nm chip ASICs that Gridseed will be shipping sometime in June. The GSD Blades (~5-6MHs) are down to a grand but I'm skipping on these and the 55nm ASICs that Hashra have started taking orders for. I'll have to double check on the Hashra chip size. I feel a bit bad for the folks who pre-ordered with KnC. That thread has turned into a clusterfuck, sorry I can't think of a better term.

i got into mining wanting to mine LTC, but in the end, ie the same day, I just started mining on scryptguild and that converted everything to BTC. It's such a quagmire. Do i mine for the ideology? Do I mine for pure profit? A few weeks later I opted to buy the mini gridseeds and put the GPU machines on VTC and haven't looked back since.

I get the whole notion of decentralised GPU mining, or at least I think I do, and it strengthening the network by numbers, but who are these miners? The ones that lucked out being born in a prosperous part of the world? I would love South America, and Africa really dialling into this space but they won't be coming in as miners. Taxes on electronic good into Africa and South America are sometimes at 100% or greater. These guys will be mostly coming in as consumers using ltc, btc, vtc, or whatever other coin that's on the market. Simple transactions over cell phones and the feel good factor about having control over their money; demand for scrypt, scrypt-n, and sha256 will increase in that sense. The mining tables have turned. They are now the consumers, billions of them, and the technologically advanced countries are the miners. Also people are weird. A person looks at BTC and thinks that's a lot, now I'm dealing in .00334 numbers. They look at LTC and think hey that's a more manageable number in their heads, and so on. Big purchases? Use BTC, everyday purchases use LTC/VTC. Over time I've noticed that what techies think is the right thing the consumers tend to think the opposite :/

To be fair I look at the ROI argument and in my head I square it off the same way as property prices in hot spots like central London, New York, or even the few square miles in Toronto. It's kind of similar in the sense that there is no more place to build but for some unfortunate reason everyone wants to live there, or can't leave. The point is the desirable land is finite, much like BTC/LTC/VTC is finite. Once the technology has reached a plateau, the ROI in a market that's desirable will always be greater than it's growth, you just need to stay in the game. That's a bold statement, but you can look it up. Capital in the Twenty-First Century by Thomas Piketty looks a fascinating read if you're interested in economics and has some great insights into this and other cool economics stuff.

I don't think cryptocurrency is there yet because the technology hasn't started levelling off. It's still in a dog eat dog phase. It's nuts that the GBlade was 2000 dollars 2 weeks ago, then 1500 dollars a week ago, and now 1000 dollars. ASIC producers were claiming 50MHs for $10K, then 75 MHs, then 100+ all in one day. 22nm die size is pretty much where we are globally as well. 14nm is still a ways away for everyone except intel. And even they are delaying the die shrink.

I would suggest that if you're going to invest long term into mining from an ideological sense you should put 50% or 25% of your next purchase into solar or wind. If you're in it for pure profit then you probably play the markets and need be able to make enough per day to move on that same day. But what if you don't have space for solar or wind? Well now you know what South Americans and Africans feel like when they can't even mine, but at least you have the option to move to a more rural area and do your thing there. What's the ROI if your electricity is almost free? It doesn't matter anymore, you now have a basic income. Sure it will go down as difficulty ramps up but if you stay in the game you're really getting the taste of freedom. Money, electricity, heck even water from rain collection. Something something chasing rainbows right?

So now you have your 2 boxes producing 250+MHs scrypt using 2500W of power. You have a 5KW renewable energy source, wow VTC is going places. I stick my 250MHs on a pool that converts scrypt to VTC. This is now the equivalent of 125MHs at 2500W. Using the most efficient hash/power GPU, ie 750Ti, let's do a calculation:

1.8MHs at 450W. But wait it's scrypt-n so 900Khs at 225W. 2500W will give you about 10MHs on pure VTC. You'd be getting 12 times more return from mining scrypt and exchanging to VTC from a power perspective. These numbers don't seem right so please chime in and tell me where this went wrong.

I was going to sell my GPUs a week or so ago but the sidechain news that Vertcoin implemented piqued my interest, so I'm holding on to see how it pans out over the next 2 months.

The cryptocurrrency community hasn't had a taste of real demand yet, not even a whiff to be fair. Only investors and short term profit makers have put the price where it is, and coders/techies on the bleeding edge of mining software take advantage of new algos becoming bag holders; much to the joy of the ideologists because the genie is out of the bottle. Once mindshare reaches a tipping point, and the barriers of entry become trivial I don't see why there won't be a demand for absolutely everything in this space, BTC/LTC/VTC included.

[sorryguys]

Ithink that MON are taking a part of price from VTC, hope in the future it can be better, but a lot of from your story is similar to me,and i am abit worried about future price, time will tell

Have faith, the price will be higher and higher.

[Joe9]

I don't see the point, well maybe one, of holding onto GPU rigs even if is for Scrypt-n. Right now I can mine Scrypt altcoins on a multipool with ASICs that auto converts to VTC.

The point of holding onto GPU rigs, as has always been vert's mantra, is to maintain decentralization. You bought your ASICs from where? One of 3 companies that produces the ASICs, who each run their own mining warehouse? These companies effectively hold the keys to any currency which they produce ASIC for (they effectively push all other players out of the game). If they are generous, they will share this key with you.

On the flip side, with GPUs? Anyone can buy them from any of hundreds of locations online or in a store. More people can mine = network is more spread out = has fewer points of failure. The cost to get started mining is extremely low - some people can start with hardware they already have. AMD and NVIDIA do not have warehouses full of mining operations which push little fish out of the mining scene. In all cases, with GPUs, you are not RELYING ON SOMEONE ELSE to give you the key to the currency.

Ah I see, supply decentralization. Whenever I thought of decentralization I wasn't thinking of the tech supply chain.

[dotnetmin]

People making decision to buy now (or evan have already weeks ago ) an asic from one of the big companies that sell them make one big fault on their calculation of roi. Difficulty on LTC is much much higher when they are able to go online.
I made the same fault with a simple small GPU mining rig at 2.4MH scrypt. Dayly reward on ordertime was on 1.4LTC/day, 10 days later as i was first time online it was 0.78 LTC/day.

Why do these big companies do not deliver today ? As you can see on the Nethash they could because theirs are already online and working.
You ´ll get yours when its maybe possible to get your ROI back in 12 months or even never.

But you can play lottery with your 100Mh rig. Point it each week to a new released shitcoin and hope it´ll hit mintpal.
In the end you´ll have millions of shitcoins and maybe luck to get you ROI.
I think place of speaking about profit is not here, its on the asics manufactorer side only.

Good luck sinking 10K$ in future worthless chipcircuits.
But there will be a housing, a powersupply and some fans over.

[alijiba]

the link? p2pool network for VTC is quite alive and works perfectly well

[tprogex]

I don't see the point, well maybe one, of holding onto GPU rigs even if is for Scrypt-n. Right now I can mine Scrypt altcoins on a multipool with ASICs that auto converts to VTC.

The point of holding onto GPU rigs, as has always been vert's mantra, is to maintain decentralization. You bought your ASICs from where? One of 3 companies that produces the ASICs, who each run their own mining warehouse? These companies effectively hold the keys to any currency which they produce ASIC for (they effectively push all other players out of the game). If they are generous, they will share this key with you.

On the flip side, with GPUs? Anyone can buy them from any of hundreds of locations online or in a store. More people can mine = network is more spread out = has fewer points of failure. The cost to get started mining is extremely low - some people can start with hardware they already have. AMD and NVIDIA do not have warehouses full of mining operations which push little fish out of the mining scene. In all cases, with GPUs, you are not RELYING ON SOMEONE ELSE to give you the key to the currency.

Ah I see, supply decentralization. Whenever I thought of decentralization I wasn't thinking of the tech supply chain.

In technical side no difference  is it asic coin or GPU. But when We buy and support GPU vendors and having rigs it mean to support supercomputing protein folding climate modeling Neural Networks and so .  So even if crypto will not have success (I think it will) with gpus network can support supercomtuing systems. But asics can go to recylce bin.And if We thinking deep We will see how important coin VTC is.

[jk_14]

So now you have your 2 boxes producing 250+MHs scrypt using 2500W of power. You have a 5KW renewable energy source, wow VTC is going places. I stick my 250MHs on a pool that converts scrypt to VTC. This is now the equivalent of 125MHs at 2500W. Using the most efficient hash/power GPU, ie 750Ti, let's do a calculation:

1.8MHs at 450W. But wait it's scrypt-n so 900Khs at 225W. 2500W will give you about 10MHs on pure VTC. You'd be getting 12 times more return from mining scrypt and exchanging to VTC from a power perspective. These numbers don't seem right so please chime in and tell me where this went wrong.

btw: 2500W with 750Ti will give you not ~10M but ~5 MH/s on pure VTC.

and...
There is a Terraminer from Cointerra, 2TH/s @ ~2000W now => so equivalent of 2GH/s scrypt at 2000W => so equivalent of 1GH/s at 2000W on pure VTC,


my 'strange construction' is many times better than your 'strange construction'...
so I'm the winner here