jk_14
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Merit: 1000
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June 30, 2014, 07:16:21 AM |
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any idea to fix inflation ?
I have one. Quite fresh and simple enough...  great !!!!! im all ear... not yet, cause: competitiors - too |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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iGoodw1n
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June 30, 2014, 07:24:13 AM |
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How about reward that depends on difficulty. Difficulty depends on price. So reward will depend on price.
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bholzer
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June 30, 2014, 07:32:26 AM |
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I'm not sure 28,800 coins/day is the issue; the real issue is that, in its current state, the coin lacks utility. Don't get me wrong - I believe VTC will be one of the few coins still standing long-term - but, from a speculation standpoint, it's just another coin. Multipools are slowly killing alts and VTC is no exception; a ton of hash power is coming in from pools that will just keep dumping no matter how low the price goes. The hash power in these pools just continue to rise and all that means is more coins being unloaded and less people holding. Right now, we're in the midst of another bitcoin rise and that will only damage alt value further as even people holding them begin unloading out of fear that they'll "miss the boat" on the bitcoin rise. This rise is partially a result of the infamous auction last week and also partly because it is being separated further and further from the mainstream FUD each day. Now, we saw something very similar last year leading up to the epic bitcoin rise. In the period from July to mid-November when bitcoin rose from ~$80 USD to ~$650 USD, we saw LTC drop from ~0.035 BTC to 0.008 BTC. Obviously this makes sense as, in USD terms, LTC still rose in value during that period... but it also shows just how many people were unloading their LTC (and all other alts) to avoid "missing the boat." Of course we all know how that played out when right around the bitcoin peak of ~$1100 (depending on which charts you're looking at) LTC shot up to 0.042 BTC (along with most other alts - it was tough to lose on anything for weeks). Obviously this was an unprecendented heyday but the people that held onto their LTC and other alts like myself did quite well. In most situations the altcoin faithful made far more profit than the BTC people. Many times along that slow decline I was tempted to unload half of my LTC to hedge my bets but held strong and actually started buying more once it dipped below 0.01. When the pump came, I made a lot of money while still retaining a decent chunk of my LTC.
The bottom line is that with real alts like LTC, VTC, etc there is so much money invested into these things that they aren't going to just drift off to sea. The situation this year could play out in a similar fashion only on a larger scale and even as VTC continues to creep forever lower I feel like you'd have to be crazy to continue selling at this stage - it could pop at any minute. The X-factor now is that there are a dozen new scamcoins popping up every day distracting people with "get rich quick" crap and it's sucking a lot of potential new money out of quality market caps and into the pockets of scammers who typically waste the money on material crap (because that's what most scammers do; they aren't smart enough to see more further than 6 feet down the road). Gimmicks of the week such as the "color" coins and "country" coins won't always have the effect the did in 2014 - it takes a while for people to catch on (and some never do - that's why ponzi schemes can continue to be successful to this day) but the general trend will be increased awareness and skepticism and that is a good thing.
Once we can start to squeeze out the scams and ponzi schemes and educate people on fundamentals and currency I believe we will see a lot more money starting to flow into coins with no premines, active devs that stick around for more than 3 weeks, true innovation, etc. Right now, a huge percentage of people are buying into lies and vaporware and, when combined with the multipools that just keep dumping, rising bitcoin prices, and the creeping fear of a complete collapse of the altcoin market, even quality coins begin to suffer.
If there is a community effort to start building some unique (or at least useful) products and/or services for VTC it will do wonders for the market. Combined with continued innovation from the dev team, it would be a 1-2 punch that we sadly don't see a lot of yet. I think Scrypt-N is an important piece of the puzzle and VTC is the pioneer - that goes a long way. Also, merge-mining with MON is an attractive bonus that is often overlooked when calculating profitability. One of the only coins I know of that is actually up in value of the past 30 days is OctoCoin and I've been investing in it from day one because I met 2 of the guys on the dev team at SXSW and have a lot of respect for them. In this insane, anonymous world of altcoins, the fact that I shook the hands of the developers and know what their day jobs are meant a lot to me - these guys will follow through with their plans, they have donated bitcoins to members of the community that were going through hard times, and they have never campaigned to get listed on an exchange (in fact, after nearly 4 months, they don't even seem to care about exchanges). All it will take is these guys following through on everything and they will be in an extremely elite class of coins that actually have utility in addition to just spec.
BTC is going to continue to climb over the next few months and, if things just keep chugging along as they are, the VTC trend may not reverse itself anytime soon. A few pumps here/there will certainly be sprinkled in but, as somebody mentioned earlier, all that does is create some easy exit points and further weaken things. I think a reverse-multipool would be a good idea so that people can mine scrypt coins and auto-trade for VTC (this is what we're building for Murraycoin once it goes Scrypt-2048) - it helps to counteract the auto-dumps coming the other way and stabilize things. Perhaps this already exists but maybe marketing should be improved for it/them as it offers a great way to help level the playing field. Most of what needs to be done should be coming from the community; too many people sit around, helpless, begging for updates and waiting for the dev to come save the day (as a coin dev myself, I know the feeling) - it needs to be a community effort. If the coin isn't broken... let the dev worry about the coin, the integrity of the network, etc and the community should be handling everything else.
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jk_14
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Merit: 1000
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June 30, 2014, 07:36:41 AM |
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Come on guys, it can be simpler...I'd suggest using Yacoin's dynamic block reward and go multi algo as suggested.  multi algo, with X11 asap, as a first phase... Now we have the situation, when scrypt GPU miners are making a decision: what to do now. I observe from forum comments, that for most of such decisions - the N-scrypt is unfortunately almost ineliglible in comparision to X11 (i.e. X.. family), due to operational costs and heat. The ratio is maybe less than 10:90... Such multi algo, but with X11 as interim solution - is like a "back to game"... And there is no time to waste, when fat scrypt ASICs - are just around the corner. If not - the only hope is a sudden appearance of big chinese X.. FPGA farms - so, like in a roulette. (and then - the situation may be reversed: X11 will forced to go multi algo with N-scrypt for example) |
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rontz
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June 30, 2014, 07:54:12 AM |
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I would say the 28000 coins per day is an issue.
Money supply has to grow in sync with growth of the economy. So i like the dynamic block reward idea.
Not sure if such thing is possible but lets take an example , lets say the price increases 15% per day that means basically that there is demand and supply of money should also increase to avoid extreme price rise.
then block reward should also increase. If price drops then also block reward would drop. I think this would allow to have really flexible supply which is reacting to economy as it should be. And possible to engineer specific agreed inflation rate into system. But the question is what would be the good input source for such dynamic block reward.
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iGoodw1n
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June 30, 2014, 08:10:09 AM |
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I would say the 28000 coins per day is an issue.
Money supply has to grow in sync with growth of the economy. So i like the dynamic block reward idea.
Not sure if such thing is possible but lets take an example , lets say the price increases 15% per day that means basically that there is demand and supply of money should also increase to avoid extreme price rise.
then block reward should also increase. If price drops then also block reward would drop. I think this would allow to have really flexible supply which is reacting to economy as it should be. And possible to engineer specific agreed inflation rate into system. But the question is what would be the good input source for such dynamic block reward.
Emunie.  |
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rontz
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June 30, 2014, 08:21:33 AM |
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Well in the end the coin should have small built in deflation, i am also holding lot of VTC and hope it will rise again But well to be honest , in general to have useful money something that has hundreds of % rise or drop in short time frame is not really something that can be considered money. Small steady price rise would be perfect. |
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rontz
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June 30, 2014, 08:30:20 AM |
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I can also argue against my previous comments  Messing with money supply in other hand is basically market manipulation that currently also central banks are doing. Not allowing free maket to decide the fair price. Protecting and benefiting either hoarders or spenders. |
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Jiggy0001
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June 30, 2014, 08:52:11 AM |
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Hey guys... Is someone trying to kill VTC? I mean seriously. Look at this dumps. We are at 0.0005 now!?
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iGoodw1n
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June 30, 2014, 08:54:58 AM |
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Hey guys... Is someone trying to kill VTC? I mean seriously. Look at this dumps. We are at 0.0005 now!?
BTC is rising - VTC is falling.  |
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MichBjukenon
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June 30, 2014, 08:57:06 AM |
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Hey guys... Is someone trying to kill VTC? I mean seriously. Look at this dumps. We are at 0.0005 now!?
BTC is rising - VTC is falling. lets be honest here,VTC fall was bound to happend no matter what BTC was like.... |
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iGoodw1n
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June 30, 2014, 08:58:38 AM |
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Where will be VTC at the end of this week? Under 0,0005 |
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coin3
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June 30, 2014, 09:01:21 AM |
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dangerous  |
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iGoodw1n
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June 30, 2014, 09:01:32 AM |
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Hey guys... Is someone trying to kill VTC? I mean seriously. Look at this dumps. We are at 0.0005 now!?
BTC is rising - VTC is falling. lets be honest here,VTC fall was bound to happend no matter what BTC was like.... Agree, VTC is not in trend now (anonymity, POS, x11). Maybe with good PR we can make new one (privacy). |
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noobtrader
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June 30, 2014, 09:03:18 AM |
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Hey guys... Is someone trying to kill VTC? I mean seriously. Look at this dumps. We are at 0.0005 now!?
BTC is rising - VTC is falling. lets be honest here,VTC fall was bound to happend no matter what BTC was like.... vtc was dumped to buy dark/xc/watever coin outthere... vtc still have low diff compared to those and price range good enuf to dump... I can also argue against my previous comments Messing with money supply in other hand is basically market manipulation that currently also central banks are doing. Not allowing free maket to decide the fair price. Protecting and benefiting either hoarders or spenders. either you are helping the hoarder or you are helping the dumper ? gee... it was hard decision isnit |
"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...", satoshi@vistomail.com |
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xingqiaoyin
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June 30, 2014, 09:11:50 AM |
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vtc was dumped to buy dark/xc/watever coin outthere... vtc still have low diff compared to those and price range good enuf to dump...
Sure thing smart ass... People dump VTC for DRK and then dump it for BTC ? Must be a whale who likes to lose money.... This is a major all alt dump to btc. |
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noobtrader
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June 30, 2014, 09:12:30 AM |
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vtc was dumped to buy dark/xc/watever coin outthere... vtc still have low diff compared to those and price range good enuf to dump...
Sure thing smart ass... People dump VTC for DRK and then dump it for BTC ? Must be a whale who likes to lose money.... This is a major all alt dump to btc. hey.... did i just says "dark/xc/watever coin outthere" so btc fit into "whatever coin outthere" I would say the 28000 coins per day is an issue.
Money supply has to grow in sync with growth of the economy. So i like the dynamic block reward idea.
Not sure if such thing is possible but lets take an example , lets say the price increases 15% per day that means basically that there is demand and supply of money should also increase to avoid extreme price rise.
then block reward should also increase. If price drops then also block reward would drop. I think this would allow to have really flexible supply which is reacting to economy as it should be. And possible to engineer specific agreed inflation rate into system. But the question is what would be the good input source for such dynamic block reward.
this path lead to centralization and multipool |
"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...", satoshi@vistomail.com |
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rontz
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June 30, 2014, 09:15:40 AM |
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Watching VTC price hurts so bad :/ I can also argue against my previous comments Messing with money supply in other hand is basically market manipulation that currently also central banks are doing. Not allowing free maket to decide the fair price. Protecting and benefiting either hoarders or spenders. either you are helping the hoarder or you are helping the dumper ? gee... it was hard decision isnit Well yes it is - as a VTC hoarder i would like to see some supply manipulation to make a profit. But the non profit me thinks that coin should be honest and float free in the market at least it should be better for coin itself in the long run. |
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noobtrader
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Activity: 1456
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June 30, 2014, 09:25:42 AM |
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Watching VTC price hurts so bad :/ I can also argue against my previous comments Messing with money supply in other hand is basically market manipulation that currently also central banks are doing. Not allowing free maket to decide the fair price. Protecting and benefiting either hoarders or spenders. either you are helping the hoarder or you are helping the dumper ? gee... it was hard decision isnit Well yes it is - as a VTC hoarder i would like to see some supply manipulation to make a profit. But the non profit me thinks that coin should be honest and float free in the market at least it should be better for coin itself in the long run. current VTC mining system is being misused.... !!!! mining VTC and dumping like short trading without consequences... |
"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...", satoshi@vistomail.com |
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iGoodw1n
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June 30, 2014, 09:27:35 AM |
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Watching VTC price hurts so bad :/ I can also argue against my previous comments Messing with money supply in other hand is basically market manipulation that currently also central banks are doing. Not allowing free maket to decide the fair price. Protecting and benefiting either hoarders or spenders. either you are helping the hoarder or you are helping the dumper ? gee... it was hard decision isnit Well yes it is - as a VTC hoarder i would like to see some supply manipulation to make a profit. But the non profit me thinks that coin should be honest and float free in the market at least it should be better for coin itself in the long run. current VTC mining system is being misused.... !!!! mining VTC and dumping like short trading without consequences... Any POW coin works the same way. |
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