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

[Kalizar]

Guys. What dou think about similiar idea of Masternodes implements in Vertcoin ? Something like authorized official p2pools ?

Heh. I just brought this up to someone on Reddit asking a similar question.

C+P:

A few of us were discussing that there should be a reward cut out of each block that is sent to P2Pool node operators.
EX: Block Solved = 50 VTC (Block Reward) - 5 VTC (Node Operators)
If everyone mined on a node to dip into that 5 VTC per block, the block reward distrubution would essentially be the same... except VTC's network would be completely decentralized at that point.

+1 this is a great idea,i would like the devs to share their opinion on this

Pool operators are able to manipulate header when they found a block and make it looks like the block is coming from p2pool. So, it doesn't help.

There has to be another way to specify rewards to P2Pool miners. Maybe by something with relating to difficulty/shares?

P2Pool shares form a "sharechain" with each share referencing the previous share's hash. Each share contains a standard Bitcoin block header, some P2Pool-specific data that is used to compute the generation transaction (total subsidy, payout script of this share, a nonce, the previous share's hash, and the current target for shares), and a Merkle branch linking that generation transaction to the block header's Merkle hash.

https://en.bitcoin.it/wiki/P2Pool


Is it really that easy or worth it? I understand if a pool would mimic this within a few hours, but if it's something that is only known to be theoretically done... we could still pull a lot of miners into P2Pool.

I would really like VTC to have a special mechanic to safely boost P2Pool and further decentralize VTC.

[jch9678]

Guys. What dou think about similiar idea of Masternodes implements in Vertcoin ? Something like authorized official p2pools ?

Heh. I just brought this up to someone on Reddit asking a similar question.

C+P:

A few of us were discussing that there should be a reward cut out of each block that is sent to P2Pool node operators.
EX: Block Solved = 50 VTC (Block Reward) - 5 VTC (Node Operators)
If everyone mined on a node to dip into that 5 VTC per block, the block reward distrubution would essentially be the same... except VTC's network would be completely decentralized at that point.

Isn't this just an incentive to operate a P2Pool node?  What's the incentive for the basic miner to mine on someone else's P2Pool node?

I run my own private node so I wouldn't be passing the bonus vtc on.  There are a lot of node operators out there now, and 5 vtc split among all of them would be pretty insignificant.  You are not able to see all of the nodes on http://coin.cubeconnex.com/poollist/ , only the public ones.  Also don't forget there are 3 P2Pool networks, that would add some complexity.  You wouldn't be able to just keep the networks separate, because there could be 100 node operators on network 1 and 100 operators on network 3, but network 1 will find blocks more frequently.

I like the the general idea of trying to move people to P2Pool though.  The biggest incentive for me to run my own node is that it's the only time I have gotten paid the right amount for the hash I contribute.  That never happened on any centralized pool. 

[Jiggy0001]

what are the "other" features the dev has been talking about?

stealth addresses are the only thing that comes to my mind...
what about multisig?

[Zarmung]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

[ShadowOfScales]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.

Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.

I'm terrible at explaining things, so hopefully this makes sense.

[jolie]

Watching cos this looks so cool

[PROFIT]

As it turned out for the half-year ASICs not so bad for the currency.

Besides the natural support network coins, they are still profitable for miners. Yes, and it is easier to work with them on many fronts.
It's summer, and many already have big problems with overheating and the difficulty, not to mention the psychological aspects of a profit-making.

By the way, are invited to a reliable pool with 0% commission, which I extracted from the founding of the coin.

Invite to the most reliable
 and powerful technical side pool - http://vtc.coinsprofit.com/.
Why mine at http://vtc.coinsprofit.com/?

1.   0% pool fee
2.   Powerful  pool. We have powerful hardware to drive this pool forward. Power up 1240+ workers. With a total maximum speed 1.8Gh/s+. Based on the multi machines Intel Xeon E5-1650 v2 Hexa-Core Ivy Bridge-E (6 physical cores, 12 threads (hyper-threading), fast storage devices: 2 x 240 GB 6 Gb/s SSD, storage: 128 GB ECC. Costs in Germany.
3.   DDOS protection.
4.   EN and RU languages.
5.   Reliable and fast payouts.
6.   Dedicated admins.

In addition, after the last radical renewal he still one of the few meets the latest security requirements.

[Zarmung]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.

Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.

I'm terrible at explaining things, so hopefully this makes sense.

There are also cheap edition of ASIC like greed seed for $100 - don't think it's the reason...

on each page people are shouting that VTC has ASIC resistance and it's the cause why VTC investors gonna be rich soon lol.
Tell us guys why ASIC resistance will lead VTC to success?

[bengx]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.

Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.

I'm terrible at explaining things, so hopefully this makes sense.

There are also cheap edition of ASIC like greed seed for $100 - don't think it's the reason...

on each page people are shouting that VTC has ASIC resistance and it's the cause why VTC investors gonna be rich soon lol.
Tell us guys why ASIC resistance will lead VTC to success?

This is, you will never ever EVER ROI on a $100 gridseed. You're better off throwing that $100 into the ocean, at least someone else who finds it will feel good about it. ASIC resistance is important because it allows anybody to join in the mining. Sure, there are people with huge farms of GPUs in the count of hundreds, but at the same time you have to remember that setting up hundreds of GPU takes lots of time and money. You need motherboards, PSUs, GPU, space, and power.

[xingqiaoyin]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.

Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.

I'm terrible at explaining things, so hopefully this makes sense.

There are also cheap edition of ASIC like greed seed for $100 - don't think it's the reason...

on each page people are shouting that VTC has ASIC resistance and it's the cause why VTC investors gonna be rich soon lol.
Tell us guys why ASIC resistance will lead VTC to success?

Watch this ANN board for new coins.
Notice the algo that comes with it.
80% are X11 or x13.
Has it told you anything ?

That means 80% miners want to GPU mine.
Once x11 or x13 coins are ASICed.
GPU miners will come back to VTC for it has consistently promised and delivered ASIC resistance.

[cubevtc]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.

Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.

I'm terrible at explaining things, so hopefully this makes sense.

There are also cheap edition of ASIC like greed seed for $100 - don't think it's the reason...

on each page people are shouting that VTC has ASIC resistance and it's the cause why VTC investors gonna be rich soon lol.
Tell us guys why ASIC resistance will lead VTC to success?

This is, you will never ever EVER ROI on a $100 gridseed. You're better off throwing that $100 into the ocean, at least someone else who finds it will feel good about it. ASIC resistance is important because it allows anybody to join in the mining. Sure, there are people with huge farms of GPUs in the count of hundreds, but at the same time you have to remember that setting up hundreds of GPU takes lots of time and money. You need motherboards, PSUs, GPU, space, and power.

I think this hits the bull's eye.  With ASIC mining, we are giving the power to the ASIC producers.  Many of them ask for 'pre-orders'.  Who knows what they do with the new ASIC miners during the pre-orders period. Do they use them to mine and release them to the market once they are no longer profitable?   Just think, if the producers can be more profitable mining with their own equipment than selling it, will they sell it to the public?  When the ASIC producers get a taste of how profitable it is to mine with their equipment, they would think 'Hey I can even make it even more profitable with higher hashes!'. Soon, the ASIC producers get into a race to produce the next-higher-and-faster ASIC.  The overall result is Centralization.  Bitcoin's ASIC reliance is a good lesson for all.

[jumparo]

Hello vertcoin miners,
I am interested in vertcoin and i would like to mine it . I have four cards Saphire toxic 270x with FSP aurum PRO Gold edition 1200w, mainboard asRock H81 Pro BTC and I have some problems with the card configiruration .
Can Anyone with the same cards to paste the .configuration file and .bat file ?
Thank you in advance

[jdcer]

VTC is sleeping.

[jk_14]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.

Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.

I'm terrible at explaining things, so hopefully this makes sense.

There are also cheap edition of ASIC like greed seed for $100 - don't think it's the reason...

on each page people are shouting that VTC has ASIC resistance and it's the cause why VTC investors gonna be rich soon lol.
Tell us guys why ASIC resistance will lead VTC to success?

Because there is only place for one hegemon coin per hardware.
There is:
- sha256 ASIC mining
- scrypt ASIC mining
- cpu mining (with botnets)
and
- the GPU mining area (and nobody care if you like it or not)

[xingqiaoyin]

Hello vertcoin miners,
I am interested in vertcoin and i would like to mine it . I have four cards Saphire toxic 270x with FSP aurum PRO Gold edition 1200w, mainboard asRock H81 Pro BTC and I have some problems with the card configiruration .
Can Anyone with the same cards to paste the .configuration file and .bat file ?
Thank you in advance

You'll have a better answer for that in vertcoinforum.com mining section.

[OPTiK]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.

Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.

I'm terrible at explaining things, so hopefully this makes sense.

There are also cheap edition of ASIC like greed seed for $100 - don't think it's the reason...

on each page people are shouting that VTC has ASIC resistance and it's the cause why VTC investors gonna be rich soon lol.
Tell us guys why ASIC resistance will lead VTC to success?

This is, you will never ever EVER ROI on a $100 gridseed. You're better off throwing that $100 into the ocean, at least someone else who finds it will feel good about it. ASIC resistance is important because it allows anybody to join in the mining. Sure, there are people with huge farms of GPUs in the count of hundreds, but at the same time you have to remember that setting up hundreds of GPU takes lots of time and money. You need motherboards, PSUs, GPU, space, and power.

I think this hits the bull's eye.  With ASIC mining, we are giving the power to the ASIC producers.  Many of them ask for 'pre-orders'.  Who knows what they do with the new ASIC miners during the pre-orders period. Do they use them to mine and release them to the market once they are no longer profitable?   Just think, if the producers can be more profitable mining with their own equipment than selling it, will they sell it to the public?  When the ASIC producers get a taste of how profitable it is to mine with their equipment, they would think 'Hey I can even make it even more profitable with higher hashes!'. Soon, the ASIC producers get into a race to produce the next-higher-and-faster ASIC.  The overall result is Centralization.  Bitcoin's ASIC reliance is a good lesson for all.

This.

ASICs are bad because they lead to greed and centralization. Have you seen the KnC mining farm? Or the guy in Washington? Greed leads to companies (and even ASIC buyers) milking the money that individuals have invested into a currency. Do you really think that KnC isn't dumping all that BTC they mine on the market and causing the value to go down? It baffles me when people are so blind to the negative effects that ASICs have on a currency. The individual miner can help decentralize and protect a currency with their rigs. How is cryptocurrency supposed to be for the people if you allow companies to ruin it.

[Jiggy0001]

lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?

I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....

Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.

Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.

I'm terrible at explaining things, so hopefully this makes sense.

There are also cheap edition of ASIC like greed seed for $100 - don't think it's the reason...

on each page people are shouting that VTC has ASIC resistance and it's the cause why VTC investors gonna be rich soon lol.
Tell us guys why ASIC resistance will lead VTC to success?

This is, you will never ever EVER ROI on a $100 gridseed. You're better off throwing that $100 into the ocean, at least someone else who finds it will feel good about it. ASIC resistance is important because it allows anybody to join in the mining. Sure, there are people with huge farms of GPUs in the count of hundreds, but at the same time you have to remember that setting up hundreds of GPU takes lots of time and money. You need motherboards, PSUs, GPU, space, and power.

I think this hits the bull's eye.  With ASIC mining, we are giving the power to the ASIC producers.  Many of them ask for 'pre-orders'.  Who knows what they do with the new ASIC miners during the pre-orders period. Do they use them to mine and release them to the market once they are no longer profitable?   Just think, if the producers can be more profitable mining with their own equipment than selling it, will they sell it to the public?  When the ASIC producers get a taste of how profitable it is to mine with their equipment, they would think 'Hey I can even make it even more profitable with higher hashes!'. Soon, the ASIC producers get into a race to produce the next-higher-and-faster ASIC.  The overall result is Centralization.  Bitcoin's ASIC reliance is a good lesson for all.

finally i have a REAL argument against ASIC... Thank you! I was not shure if VTC is doing it right with "banning" ASICs, but you can easily understand the problem correlating with ASICs...
I think with an adaptive N-Factor the coin will always have the chance to be mined with ASICs if it really counts.

VTC... a sleeping giant? I am considering to put 2 more btc into this coin at such low prices.

[xingqiaoyin]

Whether or not VTC will remain ASIC free will take sometime to be proven, it may come to the point where ASIC doesnt matter i.e somehow crypto goes mainstream all of a sudden and everyone in sillicon valley produce ASIC chips for tablets and smartphones, a situation where mining is no longer for profit but for the need of using cryptos as a mean of transaction.

The devs promise of ASIC resistance is simple but very hard to keep. From the beginning they have always been working on the coin, from forking to Kimoto, developed a side chain MON, and now stealth addresss. They are working despite the shouting about them being silent about them not doing anything against ASIC scrypt-N despite the declining price. We will never know about the future, but they've proven to be adaptive. They once stated that annonimity is not something people want because a coin that is meant for black market has no future, when DRK price actually took off because of annonimity, VTC devs doesnt shy to accept that annonimity is actually what people want and they went on to develop stealth addresses. They have proven that they're not just about adaptive scrypt-N but also adapting to the future needs of the coins to succeed as well. I'm more and more convinced that they will ADAPT and BEAT ASIC. Many ASIC manufacturers have promised scrypt-N ASIC Flowertech, Bliss, and the wannabe LightningASIC. I would long for the day VTC devs pull the surprise that renders their machine useless and bankrupt their finances  .

[styxical]

They once stated that annonimity is not something people want because a coin that is meant for black market has no future, when DRK price actually took off because of annonimity, VTC devs doesnt shy to accept that annonimity is actually what people want and they went on to develop stealth addresses.

I always thought the statement that 'people didn't care about anonymity' was retarded.

However, stealth addresses were in the pipeline long before DRK's success. They were the devs' preferred solution to anonymity (over zerocash).

[Jiggy0001]

of course Darkcoin is a good coin, but people were buying it like crazy in hope it will build a new "silk road" market with a huge demand for ANONYMITY...

BUT... Thing BIG and not small, thats what VTC is standing for. Darkmarkets will be a fraction of the global money market and i doubt any merchant will accept Darkcoin when it is associated with illegal business.

Privacy is the best solution, because merchants are also interested in their privacy as well.

I think we will see the most solid coin with VTC. Hopefully ebay, paypal, amazon and many others will realize that also...