[ANN] [PoW] [PoS] VEIL - Privacy without compromise

[motienvolam]

Mobile wallet is planned and will eventually be released, but it is correct that other development tasks are being prioritized. Right now, our devs are focusing on implementing a solution to a major Zerocoin vulnerability and re-enabling Zerocoin protocol privacy, and developing the new privacy protocol that will replace Zerocoin in the future.

It is good to know the priorities of VEIL team at the moment. I saw some projects move to use source code of STRATIS as alternative for source code of Zero coin that is vulnerable and lots of bugs found many times. Would you mind disclosing more for me and others on the current plans of VEIL team to solve Zerocoin vulnerability, please. It seems that (based on your words above) the team will still stick with Zerocoin  protocol with coming improvements. Are there plans to switch to other source codes?

[igorttomic]

Messari AMA with Veil's founder James Burden: https://www.publish0x.com/veil-project/messari-ama-with-veils-founder-james-burden-xwqqnm

[studio1one]

As admins, we're not supposed to talk about price. We don't know the factors for sure, but one that probably has contributed to price decrease was the Zerocoin vulnerability that was discovered, and we had to prevent from being used by temporarily disabling Zerocoin protocol. The vulnerability HAS NOT been used in Veil. Also, we plan to re-enable Zerocoin so that Zerocoin privacy goes live again, and we plan to implement some new privacy protocols and migrate away from Zerocoin to a more scalable private transaction system.

Is there any ETA for when you guys are planning to reimplement the zerocoin protocol into the chain? Or is it already implemented on the testnet version of the chain?

[Wayan_Pedjeng]

With the price going down at the moment we can expect the staking difficulty to rise even further up. Even with 6k Veils, it's getting harder to get a stake every 3-7 days.

Please excuse my ignorance. Is it possible to do PoS mining with just 6,000 Veil? I thought that for doing that you need to have a minimum of 10,000 Veil in your wallet. Anyway, the decrease in mining reward is good news for people like me. That means that the supply of coins is reduced and the exchange rates may rise due to the scarcity.

[Pon13]

With the price going down at the moment we can expect the staking difficulty to rise even further up. Even with 6k Veils, it's getting harder to get a stake every 3-7 days.

Please excuse my ignorance. Is it possible to do PoS mining with just 6,000 Veil? I thought that for doing that you need to have a minimum of 10,000 Veil in your wallet. Anyway, the decrease in mining reward is good news for people like me. That means that the supply of coins is reduced and the exchange rates may rise due to the scarcity.

you can stake 10, 100, 1000, 10k stacks of veil.

[lemonandfriesonetwo]

As admins, we're not supposed to talk about price. We don't know the factors for sure, but one that probably has contributed to price decrease was the Zerocoin vulnerability that was discovered, and we had to prevent from being used by temporarily disabling Zerocoin protocol. The vulnerability HAS NOT been used in Veil. Also, we plan to re-enable Zerocoin so that Zerocoin privacy goes live again, and we plan to implement some new privacy protocols and migrate away from Zerocoin to a more scalable private transaction system.

Is there any ETA for when you guys are planning to reimplement the zerocoin protocol into the chain? Or is it already implemented on the testnet version of the chain?

When the developers stop dumping all the coins they have been staking and all the superblocks they have staked unfairly against the community.

That's when they will not be able to use the excuse of the "zerocoin protocol bug".

If you don't believe me check how big the superblocks they stake are and why are they staking them anonymously.

I hope their greed doesn't end up killing their coin.  

[CLywaTeLb]

With the price going down at the moment we can expect the staking difficulty to rise even further up. Even with 6k Veils, it's getting harder to get a stake every 3-7 days.

Please excuse my ignorance. Is it possible to do PoS mining with just 6,000 Veil? I thought that for doing that you need to have a minimum of 10,000 Veil in your wallet. Anyway, the decrease in mining reward is good news for people like me. That means that the supply of coins is reduced and the exchange rates may rise due to the scarcity.

It seems, most likely the opposite. The decrease in mining reward is associated with an increase in complexity, the emission is the same.
In this case, you will get a reward less often, and large holders will receive a large part. They can sell rewards of the same volume, but already from a limited number of holders.

[lemonandfriesonetwo]

With the price going down at the moment we can expect the staking difficulty to rise even further up. Even with 6k Veils, it's getting harder to get a stake every 3-7 days.

Please excuse my ignorance. Is it possible to do PoS mining with just 6,000 Veil? I thought that for doing that you need to have a minimum of 10,000 Veil in your wallet. Anyway, the decrease in mining reward is good news for people like me. That means that the supply of coins is reduced and the exchange rates may rise due to the scarcity.

It seems, most likely the opposite. The decrease in mining reward is associated with an increase in complexity, the emission is the same.
In this case, you will get a reward less often, and large holders will receive a large part. They can sell rewards of the same volume, but already from a limited number of holders.

Many hold thousands of veil but after seeing how much the developers are using their hundreds of thousands of veil to stake, why even bother to stake if developers will receive over 90% of rewards on top of the superblocks they mine? Do you trust them not to dump when they stake and mine anonymously? Do you really believe they are not dumping without any proof except "believe us"? Many of us believed them through pivx and look how they sold pivx project without notice to some of their most loyal users.

edit: By the way I hold thousands of veil, way more than I should for what I see developers are doing. I believe they are good at coding and have exceptional talent, but the problem is they have gotten too greedy and many are worried they will dump veil when every chance they have. They have not published proof they are not dumping. Proof in blockchain world is very important.

[Crypto_FM91]

 .

[Wayan_Pedjeng]

With the price going down at the moment we can expect the staking difficulty to rise even further up. Even with 6k Veils, it's getting harder to get a stake every 3-7 days.

Please excuse my ignorance. Is it possible to do PoS mining with just 6,000 Veil? I thought that for doing that you need to have a minimum of 10,000 Veil in your wallet. Anyway, the decrease in mining reward is good news for people like me. That means that the supply of coins is reduced and the exchange rates may rise due to the scarcity.

you can stake 10, 100, 1000, 10k stacks of veil.

If this is true, then I will try my luck with PoS mining this weekend. I have somewhere around 120 Veil in my wallet and although the chances of getting a reward is very low, I want to try mining just for fun. In my laptop I have a few other altcoin wallets and I do PoS mining for these coins simultaneously. Just hope that Veil mining will not cause any incompatibility.

[Sellman]

If this is true, then I will try my luck with PoS mining this weekend. I have somewhere around 120 Veil in my wallet and although the chances of getting a reward is very low, I want to try mining just for fun. In my laptop I have a few other altcoin wallets and I do PoS mining for these coins simultaneously. Just hope that Veil mining will not cause any incompatibility.

Small numbers of coins will give you very low competitive ability to find blocks, hence very low rewards from staking. Moreover, staking via laptop and multiple-coin staking, I don't think you should do this, because your laptop might be fastly destroyed. Using VPS service is better option, with only $5 per month or even lower cost if you choose to pay per quarter or longer period. Personally, even you have mining rigs, you should also not stake your coins on rigs, instead VPS is always better option for stakers or masternode holders.

[Pon13]

With the price going down at the moment we can expect the staking difficulty to rise even further up. Even with 6k Veils, it's getting harder to get a stake every 3-7 days.

Please excuse my ignorance. Is it possible to do PoS mining with just 6,000 Veil? I thought that for doing that you need to have a minimum of 10,000 Veil in your wallet. Anyway, the decrease in mining reward is good news for people like me. That means that the supply of coins is reduced and the exchange rates may rise due to the scarcity.

you can stake 10, 100, 1000, 10k stacks of veil.

If this is true, then I will try my luck with PoS mining this weekend. I have somewhere around 120 Veil in my wallet and although the chances of getting a reward is very low, I want to try mining just for fun. In my laptop I have a few other altcoin wallets and I do PoS mining for these coins simultaneously. Just hope that Veil mining will not cause any incompatibility.

Then you stake 100 + 10 + 10 or 12 x 10

[Wayan_Pedjeng]

If this is true, then I will try my luck with PoS mining this weekend. I have somewhere around 120 Veil in my wallet and although the chances of getting a reward is very low, I want to try mining just for fun. In my laptop I have a few other altcoin wallets and I do PoS mining for these coins simultaneously. Just hope that Veil mining will not cause any incompatibility.

Small numbers of coins will give you very low competitive ability to find blocks, hence very low rewards from staking. Moreover, staking via laptop and multiple-coin staking, I don't think you should do this, because your laptop might be fastly destroyed. Using VPS service is better option, with only $5 per month or even lower cost if you choose to pay per quarter or longer period. Personally, even you have mining rigs, you should also not stake your coins on rigs, instead VPS is always better option for stakers or masternode holders.

My laptop is quite old and I may need to discard it sometime soon. So mining 2-3 hours a day, just for fun isn't going to cause any harm, I guess. Hiring VPS is a good option. But with just 100 coins, the mining reward is going to be much lower than $5 per month. I am trying to increase the size of my holdings. Once that is done, I'll consider getting a VPS service.

[Sellman]

My laptop is quite old and I may need to discard it sometime soon. So mining 2-3 hours a day, just for fun isn't going to cause any harm, I guess. Hiring VPS is a good option. But with just 100 coins, the mining reward is going to be much lower than $5 per month. I am trying to increase the size of my holdings. Once that is done, I'll consider getting a VPS service.

Even your laptop is old, I don't think you should use it to try staking. Because such old devices are less-efficient operating, so it will somehow decrease staking performance. There are obviously so many other factors that affect staking performance, staking weight (total coins use to stake); staking chunks (split threshold you set to split your coins into chunks and stake each chunk); network difficutly, and so on; but if your devices can not operate smoothly, staking process will be affected too.

[Wayan_Pedjeng]

My laptop is quite old and I may need to discard it sometime soon. So mining 2-3 hours a day, just for fun isn't going to cause any harm, I guess. Hiring VPS is a good option. But with just 100 coins, the mining reward is going to be much lower than $5 per month. I am trying to increase the size of my holdings. Once that is done, I'll consider getting a VPS service.

Even your laptop is old, I don't think you should use it to try staking. Because such old devices are less-efficient operating, so it will somehow decrease staking performance. There are obviously so many other factors that affect staking performance, staking weight (total coins use to stake); staking chunks (split threshold you set to split your coins into chunks and stake each chunk); network difficutly, and so on; but if your devices can not operate smoothly, staking process will be affected too.

OK. I will just try it once, for one or two hours and then get a VPS if the rewards are good. Since I have only a small number of coins, the staking weight may be very small. But still I have big expectations for Veil and small mining rewards can be significant when the coin undergoes a bull run sometime in the future. I have studied Veil over the past few weeks and I am very excited about this coin.

[JoenNL]

My laptop is quite old and I may need to discard it sometime soon. So mining 2-3 hours a day, just for fun isn't going to cause any harm, I guess. Hiring VPS is a good option. But with just 100 coins, the mining reward is going to be much lower than $5 per month. I am trying to increase the size of my holdings. Once that is done, I'll consider getting a VPS service.

Even your laptop is old, I don't think you should use it to try staking. Because such old devices are less-efficient operating, so it will somehow decrease staking performance. There are obviously so many other factors that affect staking performance, staking weight (total coins use to stake); staking chunks (split threshold you set to split your coins into chunks and stake each chunk); network difficutly, and so on; but if your devices can not operate smoothly, staking process will be affected too.

OK. I will just try it once, for one or two hours and then get a VPS if the rewards are good. Since I have only a small number of coins, the staking weight may be very small. But still I have big expectations for Veil and small mining rewards can be significant when the coin undergoes a bull run sometime in the future. I have studied Veil over the past few weeks and I am very excited about this coin.

Hey

1. i would not use VPS or any other extern ''provider'' what host you wallet files..
2. with 6k coins u have an estimated stake time of 1-2 days for 1 stake.

[studio1one]

Vinex is currently hosting a trading contest Veil coins where you can earn upto 27k Veil coins.

Check this link for more information.

[VeilDango]

Veil is now listed on ProBit, a global cryptocurrency exchange with top performing matching engine, customizable UI, and security features such as FIDO U2F hardware key support.

Deposits begin June 11, 6 AM GMT and trading opens June 13, 6 AM GMT.

Trading pairs: VEIL/BTC, VEIL/KRW, and VEIL/USDT

ProBit will host a Veil trading contest from June 13 to June 27:
https://support.probit.com/hc/en-us/articles/360029025292-ProBit-Exchange-Lists-Veil-VEIL-6-428-VEIL-For-ProBit-Users


DISCLAIMER: Third-party services are not endorsed by the Veil team and are provided for informational purposes only.

[Sellman]

More details on Trading competition on ProBit exchange. The end day of the competition is on 27th June 2019, and top ten traders will get rewards at 2142 VEIL in total. Those VEIL coins will be distributed to ten winners proportionally. Let's make deposits to Probit and join the competition. If you trade regularly and has high trading volume enough, you can be ranked in the top ten traders.
https://support.probit.com/hc/en-us/articles/360029025292-ProBit-Exchange-Lists-Veil-VEIL-6-428-VEIL-For-ProBit-Users

A trading competition will be held for VEIL/KRW, VEIL/USDT, VEIL/BTC trading pairs. A total of 2,142 VEIL will be distributed to the Top 10 users proportional to the volume of VEIL traded.

[Btc_1856]

With the price going down at the moment we can expect the staking difficulty to rise even further up. Even with 6k Veils, it's getting harder to get a stake every 3-7 days.

Please excuse my ignorance. Is it possible to do PoS mining with just 6,000 Veil? I thought that for doing that you need to have a minimum of 10,000 Veil in your wallet. Anyway, the decrease in mining reward is good news for people like me. That means that the supply of coins is reduced and the exchange rates may rise due to the scarcity.

It seems, most likely the opposite. The decrease in mining reward is associated with an increase in complexity, the emission is the same.
In this case, you will get a reward less often, and large holders will receive a large part. They can sell rewards of the same volume, but already from a limited number of holders.

Not only in the Veil, but there are also many other companies who will make more coin through staking, people who have lower coins will get low coins. We shouldn't blame the investors and according to their investment that's how POS model will work for them.