VIRTUAL MINING COIN [VMC] | OUR MINED 410 PAYCOINS [XPY] IS ARRIVED!!!

[Coin.millionair]

ANNOUNCEMENT

Details of VMC Reedeming process and calculation:

Dear VMC Community


Let me summarize what You need to know about reedming VMC (for the new arrivals)

In nutshell:

VMC is Scrypt-N coin, launched on 3rd of May 2014
Coin is backed by Collateral Security which is actually a BTC cloud mining peformance in the background.

Originally it was launched on CEX.IO
We have had 2200GHS until the time it was became no profitable anymore (few weeks ago) so we have switched to zenminer.com  (They are attached to gawminers.com)

We have turned our 2200 GHS into 186 MHS in hashlet (Exactly ZenHash)
http://gawminers.com/pages/hashlet-solo


Now it is valued as 4000 GHS (on CEX.IO) at current GHS price.
CEX.IO is not profitable anymore, so GHS price is dropping.
We have just turned into a profitable investment in the last minutes. Only a few hours before GHS price was halved !!!
So we have just saved our investment and doubled its value ! ("Our" means: VMC Community)


As reedeming VMC for GHS (on CEX.IO) was a feature for VMC owners, we make it possible here on zenminer.com as well.

Unfortunately transferring MHS is not possible on the site, but we have found a solution for You to reedem your VMCs.
We pay for them in BTC.

Calculation method is the same as it was on CEX.IO


All the MHS we have, divided by actual amount of VMC.
Originally 100.000.000 VMC were available in the system.
6.280.000 VMC are reedemed already, so now  there are "only" 93.720.000 to calculate with:

186000KHS / 93.720.000VMC
1VMC = 0.00198463 KHS
1VMC = 0.00000198463 MHS

Actual price of 1 MHS on zenminer.com is 20.95$ at this time.

so:
0.00000198463 MHS  * 20.95$ = 0.00004157$
1 VMC = 0.00004157$
1 BTC = 400$ at this moment
1 VMC = 0.00004157 / 400 = 0.00000010(3925) BTC  

That means we will reedem 1 VMC for 0.00000010 BTC during next week !
2014.09.29, 00:00h  - 2014.10.05, 24:00h

To protect our investment and ensure we could increase MHS amount on a weekly basis, we LIMIT the amount of REEDEMABLE VMCs for every week.

Current LIMIT: 2.000.000 VMCs reedemable this week !
Limit will be announced every week on sundays...

You can download the CALCULATOR for VMC REEDEM from here: https://mega.co.nz/#!IB0Rwb6T!4qRZ0EvbKRQeCF8VeT1bhLD3TM0AabBN-3i6G2GSRSw

With this calculator You can easily calculate the current reedem price for VMC at any time in the future.
Set the actual BTC price, MHS price, weekly reedem limit and actual MHS amount to get the correct price at any time.



Method is the same:
Send a mail to:  info@virtualminingcoin.org  with the amount You want to reedem.
Will contact You with the addresses You have to send those VMCs. (Try to keep 24H respond time)
We will need Your BTC address to pay You out...


With this reedeming option VMC always will have a stable price (at least for the weekly limit amount) so You dont need to DUMP your VMCs anymore...
We'd like to have Your trust and also Your patience as well Guys.

We still have the IPO amount, cloud mining is ON, and the DEVS are NOT GONE, so You can trust us, we make it fair way !


To have and keep Your trust we plan to let You know about details once in a week.

- Amount of MHS (Collateral Security)
- Weekly average income by the MHS
- Amount of reedemed VMCs


Still looking for a solution to DESTROY reedemed VMCs in public to have trasparency !
Let us know if any working solution...


As collateral security is for backing ALL VMCs (included IPO amounts) Your investment will worth more and more after each reedeming week...!!!
The longer You HOLD Your VMCs, the more they will be valued...

[edmundduke]

I was one of the first users who was mining/trading VMC constantly. I saw the potential in the coin.
For me the coin was killed by the dev team, im sorry to put it like this, but its the truth.

*Unresponsive for the longest time.
*No updates.
*OP is still the same only after long crying the address and redeem process gets posted in the OP.

*I swapped my VMC, 1-2 mil i believe for ghs at cex.io - Shortly after i made a test, i created a new address, used a new gmail and sent another sum for redemption at cex.io

Somogyipeti replied to me and did the calculations per original price, like there was 100mil still left but in reality it was far less as i swapped my 1mil and others had done swaps also.
This was the point when i realized it is best to get out. If the dev doesn't know what his coin redemption process is about, or knowingly does the swap in a way that it favors him, then there really cant be any trust.

All said, im sad it didn't work out.
I wish you guys good luck! And i hope you pull it together and this coin goes somewhere.

P.S I feel for you Coin.millionair, having to tell you'r fellow dev to do his part all the time.

[Coin.millionair]

Thank You edmundduke.
No worries for me, ill never give up


We are (ALL 3 of us) honest and true persons with busy life, extremely tight family schedule and only limited time for our hobby "The CryptoWorld"
We are not gone with the IPO, like many other DEVS done, we are always responding (Yes, sometimes it takes a while, sorry about that) and we are still here to run VMC project.
We work a lot in the background with different ideas, trying to make VMC stable and trusty coin.
With this reedem option we try to make it calculable !

Just look at the numbers expected...
I present a screenshot of calculator to show, what is expected in the next 10 weeks...
You can see what is our plan to upgrade MHS, the actual value of Collateral Security and the expected reedem price.



However every number is based on actual BTC and Hashlet price...


We will present You exact numbers regarding MHS amount and weekly income soon, when we'll have a chance.
Hopefully we could keep it updating on a weekly basis...


We hope and expect that with this reedeming option price of VMC will stay stable and calculable (slow raising) on the market, comparing to actual weekly reedem price.
Option for reedeming (actually: SELL) 2.000.000 VMC every week on a guaranteed price can do the trick !!!
We can imagine (and hope its time is coming soon) to raise the weekly reedem LIMIT from 2.000.000...


Lets reedem your coins and we'll see the numbers...

[somogyipeti]

Hi!

I want to release a new whitepaper which is contains the redeem process this weekend, or maybe today.

Please be patient xinwao!

Thank you for the info Sir.

Hi Xinwao!

The redeem address is still the same: Vu3hWoEWuakWRZfCsyTMxVS9n8vpXFKyZb

Send your coins!

Still looking for a solution to DESTROY reedemed VMCs in public to have trasparency !
Let us know if any working solution...

[somogyipeti]

OP updated. BLock Explorer is on way.

[Mohabmw]

xinwao:

I've sent 0,198 BTC for the redeemed 1.800.000 coins.
The calculation is the following:

186 MH*20,9USD=3887,4 USD/375(BTC price in the coinbase)=10,3664 BTC/93.720.000 VMC= 0,00000011 BTC/VMC

1.800.000 VMC*0,00000011 BTC= 0,198 BTC

[xinwao]

xinwao:

I've sent 0,198 BTC for the redeemed 1.800.000 coins.
The calculation is the following:

186 MH*20,9USD=3887,4 USD/375(BTC price in the coinbase)=10,3664 BTC/93.720.000 VMC= 0,00000011 BTC/VMC

1.800.000 VMC*0,00000011 BTC= 0,198 BTC

BTC received. Thanks.

[code]

I still believe in VMC and hold all VMCs 

[Coin.millionair]

Thank You for Your confidence Code !

We wont let You(ALL) down !!!


I belive, with this weekly guaranteed reedem price (which always will be slightly above market price) we can turn VMC into a stable and reliable coin.

Safe and calculable investment for short, medium and even long term !

New features are coming soon, we are working on them...
Everything will be announced here, when they are certain already !!!

We are still open for any idea, advise, recommendation from VMC Community.
Conatct to : info@virtualmining.org
or just PM me :c)


Cheers

[somogyipeti]

I still believe in VMC and hold all VMCs 

Thank you code!

[drbobbo]

Devs, you might want to remove the pool you have on the first page, minep.it. They are on the wrong block ~50 000 blocks behind, at least according to web frontend (don't know about their backend, but I doubt it works any better). Rumors say they devs for minep.it abandon their project, don't know if it is true. Those who are mining VMMC there are wasting hashes.

I can't find any working pool for VMC at the moment, anyone now of one?

[drbobbo]

Hi,

Anyone been able to compile the latest VMC-source from git on linux? I tried on Ubuntu 13.1, compile failed badly. Seems like files are missing from the source, or is the git link in the OP outdated? 

I tried to compile the vertcoin source on the same machine, which went fine, so I think my environment is sane.

Any help or ideas?

/

[Coin.millionair]

Cannot answer to Your question, sorry.
Anyone using VMC wallet on Linux ?
Could You guys give it a try ?

[drbobbo]

Actually I fixed it. I switched to Ubuntu 14.04, switched from qmake to make and manually created a /obj directory in the /src folder, cause a missing /src/obj directory was one of the errors qmake spit out. I don't know which of the changes did the trick, but it compiled. 

thanks

[bitwarrior]

Hello Coin Devs,

Any thoughts of changing the Algo? Lets say X11? Then do a merge mine with other coins when the time warrants it?
On what I see, SCRYPT-N has been loosing popularity and so the hashes is going down too.. the coin needs a healthy working network.
VMC needs a REBOOT IMO..

Its a good thing and a great decision you guys migrated from CEX.IO to a more profitable one.
This only means that the DEV do care for the coin, the investment and also about the traders and investors.

Cheers.

[code]

bitwarrior: Good idea!

[Coin.millionair]

Bitwarrior:  We will discuss about it and will take a look to check how is it possible...
Thank You for the advise !

And ofcourse we DO CARE with VMC and also VMC community !!!

[fbarcelo]

I was aware of this coin in the coin-swap market, and invest a little in it, since then was following this discussion list and need to say that is one of the most interesting novelties on ALTcoins.

I'm looking forward anxious about it's future

[Coin.millionair]

I was aware of this coin in the coin-swap market, and invest a little in it, since then was following this discussion list and need to say that is one of the most interesting novelties on ALTcoins.

I'm looking forward anxious about it's future

Thank You for ur good words mate and ur investment.
It will turn to profit, its just a metter of time...
We are doing our best, won't let VMC down !

Open for any help in promoting, also big ideas...

Share our thoughts !
&
Keep spreading the Word of VMC !

https://twitter.com/coin_millionair/status/517935757840109568

[Coin.millionair]

We are having a solid price jump on the market :
https://coin-swap.net/market/VMC/BTC


Hopefully not only a pump, but traders see some potential in VMC !!!