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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1355393 times)
altcoinUK
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August 06, 2014, 11:33:28 AM
 #12321

There is a big big demand to get an exchange in which assets are not steal able. Neither by the people running the exchange neither by hackers. The single point of failure hurt a lot of people. There is no exchange I am currently trusting. Mt. Gox, Poloniex, Mintpal and other have proven again and again there will also be a point of failure. In the end it doesn't matter if a Government, an admin or an Hacker creates this situation where assets are gone.

You are absolutely right in emphasizing the importance of a blockchain 2 app, you are also absolutely right that the devs should forget all meaningless features and focus on the blockcain 2 function and it would be great if you could get this message through to the DEVs. Personally I think a decentralized market place, like a next decentralized Ebay that uses vericoin would be significantly bigger than a decentralized exchange, plus as users would trade with vericoin in the decentralized market place the demand for vericoin and consequently the price would sky rocket. Having said that, obviously the decentralized exchange would be great as well. Basically, any applications would be great that can be labelled as a blockhain 2 application.

Step:
1.) Create a base the exchange could operate on. Possibly a unique Blockchain 2.0 ? I am not sure if a decentralized exchange could even operate on the current blockchain.
 2.) Create the exchange. Just a simple test version integrated into the Vericoin Wallet to find problems.
  3.) Make the exchange accessible over the browser. Create an Veri-exchange only Wallet
   4.) Add Altcoins

That's the main issue, how to achieve step 1.
For example Bitcoin use the OP_RETURN output in the transaction so you could say the bitcoin blockchain supports smart contracts in that sense. It seems to me the VeriCoin raw transaction could have OP_RETURN output as well so it is possible to build blockchain 2 apps on the top of that. At least my understanding was that the bitcoin devs suggest to use the OP_RETURN output and build blockchain 2 features top on that, but I could be wrong. Other projects like Viacoin take a different route and uses existing infrastructure like Counterparty which make sense too. I am sure that will work for them. If I would be the dev I would take the Ethereum route so it would be a contract entity and that could create messages instead of the transaction or collection of the transaction is the contract. In this case I guess you would need a ledger for the contracts, but wouldn't have to mess with the blockchain.

Either way lots of development, but I am sure the talented VeriCoin devs can manage that. If they need help the community could put together a 60-80K fund to hire peoples.

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August 06, 2014, 11:37:34 AM
 #12322

Could you guys imagine how big a true (and on top audited) decentralized exchange would be? People would swarm in like crazy. There is a long talk about a decentralized exchange in the BTCitcoin community since the Mt. Gox drama. People like Andreas Antonopoulos are very interested in this for a long time now. We could also get a lot of media attention over Andreas and Let's Talk Bitcoin. If Adam B. Levine is talking about a coin it's like like an accolade for the coin on the long term.

There is a big big demand to get an exchange in which assets are not steal able. Neither by the people running the exchange neither by hackers. The single point of failure hurt a lot of people. There is no exchange I am currently trusting. Mt. Gox, Poloniex, Mintpal and other have proven again and again there will also be a point of failure. In the end it doesn't matter if a Government, an admin or an Hacker creates this situation where assets are gone.


Vericoin is currently one of the few coins competent, active and on top smart enough to achieve this milestone in the Bitcoin history. The demand is just huge.
But it would take 3 People too long to get a working exchange in time. We need to get bigger. Volunteers (which can be tipped), investors for a foundation to hire people and make the hole process accelerate. How many people are involved in the development of Etherum? 60? That's totally different universe.

The foundation should get in the end most of the fees charged by the exchange to make it lucrative to them investing.

I would love the see Vericoin to succeed. But if we can achieve this. This would be outstanding. This is a real opportunity to get big.

In my opinion the exchange should aim high to get attention.

--> get a white paper. Where do the dev. want to head. What are the ideas?

I would suggest:

Step:
1.) Create a base the exchange could operate on. Possibly a unique Blockchain 2.0 ? I am not sure if a decentralized exchange could even operate on the current blockchain.
 2.) Create the exchange. Just a simple test version integrated into the Vericoin Wallet to find problems.
  3.) Make the exchange accessible over the browser. Create an Veri-exchange only Wallet
   4.) Add Altcoins

and then we got already a lot. The far future ideas would be:

-Veribank comes alive. Create a special token/coin (maybe Ripple style) and make it simple 1 coin/token = 1$ accessible for all Veribank users. Add this token/coin to the exchange.
And BOOM Vericoin became a big player and could even take over market cap of big Bitcoin exchanges like btc-e, bitstamp and even OKCoin simply because a p2p exchange with FIAT would be a kill blow to them.

-Create tradable contracts over the exchange.

But I am not sure if the dev of Vericoin even want to head this way.
I know this is a shit lot of hard work. But the possible value out of this is not even predicable.

I would love to see them heading this direction and would support this heavily.

What do you guys think about these ideas?

Totally agree.
 
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August 06, 2014, 11:49:52 AM
 #12323

why is the value of the coin so low currently? It was almost worth 4 times what it is now recently.  Will it make a come back?

The price will not go back from the optimism of the cheerleaders, vocal supporters, regional leaders or whatever they call themselves in this thread and IRC. The price will go back when the devs start to deliver features that people/investors are interested in.
I agree with this 100%. The devs have a great product so far that has been somewhat of a game changer but blockchain 2.0, built in wallet exchange and other features will put this coin in top 5 for a good while.
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August 06, 2014, 11:58:12 AM
 #12324

why is the value of the coin so low currently? It was almost worth 4 times what it is now recently.  Will it make a come back?

The price will not go back from the optimism of the cheerleaders, vocal supporters, regional leaders or whatever they call themselves in this thread and IRC. The price will go back when the devs start to deliver features that people/investors are interested in.

based on your experience (whether with coins in general, or this dev) - would you think there will be a recovery or are you calling this one done?
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August 06, 2014, 12:01:55 PM
 #12325


Thanks for sharing going to add this in to my twitter...

Vericoins Here = VXCBhfbtwJDxnnQQRpUcpKKMwcsVGsT1AJ
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altcoinUK
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August 06, 2014, 12:31:12 PM
 #12326

why is the value of the coin so low currently? It was almost worth 4 times what it is now recently.  Will it make a come back?

The price will not go back from the optimism of the cheerleaders, vocal supporters, regional leaders or whatever they call themselves in this thread and IRC. The price will go back when the devs start to deliver features that people/investors are interested in.

based on your experience (whether with coins in general, or this dev) - would you think there will be a recovery or are you calling this one done?

I think there will be a recovery sometimes. Firstly when the depressed bag holders unload their coins some pump could happen, but most importantly the devs are honest and intelligent professionals, they are serious about this project and surely they don't want to fail with this project that is in the public domain, so I am sure they will deliver sooner or later and then the price will be a lot better. If the devs deliver big then the price could be very big :-)) I think there are just a very-very few good altcoin projects and vercioin is still one of them (because of the devs).
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August 06, 2014, 01:00:28 PM
 #12327

Can you people feel how hater turn slowly back to supporter as the price goes down more and more?  July was not a good month for vericoin and I  blame it mostly all on Mintpal.
But now we will see a huge development in all crypto,  we will soon separate between bitcoin altcoin and 2.0 coins (blockchain2.0) and I think vericoin will be a 2.0 coin fore sure.

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August 06, 2014, 01:03:00 PM
 #12328

Sold all my vrc... but will buy back double or triple... so an bought all in to RDD and will hold that for the next 2 months as they have a nice plan for the coin over the next 2 months... at 20 - 22 sats it will be 60-100 sats in 60 days and then I will come back and buy my vrc... as I do not see vrc going up in the next 4-6 weeks unless there is going to be a big change....

But over all vrc is a great long term investment more like 2-5 years... so if you can double your investment in other alts and then come back and by more vrc ... all the luck to you..

Vericoins Here = VXCBhfbtwJDxnnQQRpUcpKKMwcsVGsT1AJ
LetsTalkBitcoin: http://ecoinincome.com.au/LetsTalkBitCoin.php
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August 06, 2014, 01:12:19 PM
 #12329

My wallet is stuck synchronizing at (currently) 2206 blocks remaining. I am facing this sync issue since a few days.

My config file contains the 5 supernodes and I just added 'addnode=107.170.140.210', but this makes no difference.

Any recommendations to solve this sync issue ?

Thanks in advance.
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August 06, 2014, 01:16:40 PM
 #12330

My wallet is stuck synchronizing at (currently) 2206 blocks remaining. I am facing this sync issue since a few days.

My config file contains the 5 supernodes and I just added 'addnode=107.170.140.210', but this makes no difference.

Any recommendations to solve this sync issue ?

Thanks in advance.


you're probably better off asking in the irc channel.  eventually someone will help you in there.
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August 06, 2014, 01:18:18 PM
 #12331

Sold all my vrc... but will buy back double or triple... so an bought all in to RDD and will hold that for the next 2 months as they have a nice plan for the coin over the next 2 months... at 20 - 22 sats it will be 60-100 sats in 60 days and then I will come back and buy my vrc... as I do not see vrc going up in the next 4-6 weeks unless there is going to be a big change....

But over all vrc is a great long term investment more like 2-5 years... so if you can double your investment in other alts and then come back and by more vrc ... all the luck to you..

Selling at so LOW, maybe botom? shame, noob!
Good luck !
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August 06, 2014, 01:26:16 PM
 #12332

great long term investment more like 2-5 years...

ah there it is, the longterm argument



do you really believe ANY of the actual coins will be relevant in 1+ years?

whoever sells below 29k now must be a complete retard....
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August 06, 2014, 01:55:48 PM
 #12333

VRCRadio.com will be LIVE in 5 minutes

stop by to listen or join in.

If you have Skype the id is Vrcradio
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August 06, 2014, 02:23:50 PM
 #12334

Coins Staking: 20477580.86105426     Shocked
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August 06, 2014, 02:36:34 PM
 #12335

great long term investment more like 2-5 years...

ah there it is, the longterm argument



do you really believe ANY of the actual coins will be relevant in 1+ years?

This is the "deer in the headlights" strategy.
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August 06, 2014, 03:54:52 PM
 #12336

There is a big big demand to get an exchange in which assets are not steal able. Neither by the people running the exchange neither by hackers. The single point of failure hurt a lot of people. There is no exchange I am currently trusting. Mt. Gox, Poloniex, Mintpal and other have proven again and again there will also be a point of failure. In the end it doesn't matter if a Government, an admin or an Hacker creates this situation where assets are gone.

You are absolutely right in emphasizing the importance of a blockchain 2 app, you are also absolutely right that the devs should forget all meaningless features and focus on the blockcain 2 function and it would be great if you could get this message through to the DEVs. Personally I think a decentralized market place, like a next decentralized Ebay that uses vericoin would be significantly bigger than a decentralized exchange, plus as users would trade with vericoin in the decentralized market place the demand for vericoin and consequently the price would sky rocket. Having said that, obviously the decentralized exchange would be great as well. Basically, any applications would be great that can be labelled as a blockhain 2 application.

Step:
1.) Create a base the exchange could operate on. Possibly a unique Blockchain 2.0 ? I am not sure if a decentralized exchange could even operate on the current blockchain.
 2.) Create the exchange. Just a simple test version integrated into the Vericoin Wallet to find problems.
  3.) Make the exchange accessible over the browser. Create an Veri-exchange only Wallet
   4.) Add Altcoins

That's the main issue, how to achieve step 1.
For example Bitcoin use the OP_RETURN output in the transaction so you could say the bitcoin blockchain supports smart contracts in that sense. It seems to me the VeriCoin raw transaction could have OP_RETURN output as well so it is possible to build blockchain 2 apps on the top of that. At least my understanding was that the bitcoin devs suggest to use the OP_RETURN output and build blockchain 2 features top on that, but I could be wrong. Other projects like Viacoin take a different route and uses existing infrastructure like Counterparty which make sense too. I am sure that will work for them. If I would be the dev I would take the Ethereum route so it would be a contract entity and that could create messages instead of the transaction or collection of the transaction is the contract. In this case I guess you would need a ledger for the contracts, but wouldn't have to mess with the blockchain.

Either way lots of development, but I am sure the talented VeriCoin devs can manage that. If they need help the community could put together a 60-80K fund to hire peoples.



There seems to be a bit of confusion between what a "market" and an "exchange" ( add to both the "decentralized" adjective and you have the "magic" wand), are.

If we are talking the former (market), there are plenty of examples of FAILED marketplaces already, both within the platform of coins and out of them. The idea of a crypto-based ebay, as opposed to Pay-Pal based Ebay, simply doesn't work. Decentralized, even less. Period. Forget it, file, destroy. Never think about it again.

If we are talking about an "exchange" where you can trade crypto for crypto and fiat for crypto and viceversa, we already have several quite established, one partial (Coinbase, only BTC for fiat and viceversa) and one full out (Cryptsy). Now, it seems to me when the adjective, the "magic wand") is added, we are referring to an underground market and/or exchange... and that's just an absurd pipe dream with no viability whatsoever nor practical purpose.

Yes there was -and I understand there still is- Silkroad. And yes, it was/will be put down again and again. There's simply no future in it and, definitely, not for a coin which is bent in reaching mass mainstream adoption and operate within the laws.

So please lets leave the jerking off off the forums and concentrate efforts in what's plausible, doable, effective AND susceptible of actually being use, hopefully by a growing part of the general population. Distracting the devs with "magic wands" that will never be viable is simply counter productive.

And, once again worth repeating: There's no direct fiat integration without real world, costly LEGAL authorization. Nor there's need for it: Go to Cryptsy and you have it already made.

The price -only concern of posters here, really- will move not on absurd hype about future "magic wand" releases, but on seamless working of current ones and signs of progress toward mainstream adoption. That's job 1.

And VRC is doing an extremely POOR job of it, by the way... partly, I believe, because of those constant, never-ending distractions.

Go to merchants and offer the obvious strength of VRC: 20 million (roughly 80% of all coins) coins staking meaning thousands of not just potential but SURE customers when they can buy YOUR products and services with VRC. Just like the community is staking in amazingly huge numbers at the request of the devs, they would purchase those goods and services when prompted to do so and allowed to do so. One thousand, two thousand customers are, can be, the strongest customer support any medium/small business can have. A very desirable customer base for business of ANY size. The adoption WILL happen... if offered properly.

But no one is doing that. No one at all. It is, obviously, much easier to post here asking for "magic wands" on which to unload the bags.

Once again, nature of the beast... and reason why, mainstreamwise, crypto is at a stalemate. Just like VRC.
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August 06, 2014, 04:01:44 PM
 #12337

I've not been following VRC all that closely...but I've been waiting to get into a few other alts recently (vrc and or cloak). It seems that its lower than its ever been, which is confusing. Can anybody tell me what is actually going on (or correct me if you can)

I know of the MintPal fiasco, then the devs decided to roll back (fork?) the blockchain...which some people dont like (it suggests they could do this in the future/bail out exchanges?)...but apart from that what else is going on?

I thought the work in progress seemed solid, or is another coin doing the same...but better...or is it really down to the decision after the hack?

Genuinely interested, thanks for any honest (non biased) answers.

Cheers

Other than the fork (rollback) that some blockchain purists disagreed with there has been no "bad news" so the price slump is probably due to several factors, I personally believe the lack of market volume in general mixed with the obvious artificial price suppression is playing a major part in the decline just look at the charts for the past few weeks EVERY TIME an uptrend started price was dumped back to the 13k- 15k range and now that up trends are not occuring some choose to just dump, but don't take my word for it just go look at the charts for the past few weeks and you will see what I have said to be accurate.

 
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August 06, 2014, 04:15:28 PM
 #12338

20 million coins staking, only 7 million or so on the market and volume picking up.....possible breakout soon? Oh and not to mention vindication for what I have been espousing the past few weeks as well....

 
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defier
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August 06, 2014, 04:16:36 PM
 #12339

I've not been following VRC all that closely...but I've been waiting to get into a few other alts recently (vrc and or cloak). It seems that its lower than its ever been, which is confusing. Can anybody tell me what is actually going on (or correct me if you can)

I know of the MintPal fiasco, then the devs decided to roll back (fork?) the blockchain...which some people dont like (it suggests they could do this in the future/bail out exchanges?)...but apart from that what else is going on?

I thought the work in progress seemed solid, or is another coin doing the same...but better...or is it really down to the decision after the hack?

Genuinely interested, thanks for any honest (non biased) answers.

Cheers

You pretty much summed it up.  A solid functional coin, with great features.  Honest, known devs(rare), that did nothing wrong, but were put in a tough, lesser of 2 evils, situation.  The loyal vrc are obviously holding out and buying more.  Hoping, eventually the positive outweighs the negative.  Can anyone predict when or if it will bounce back?  Not really, but there is much potential here.  
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August 06, 2014, 04:24:13 PM
Last edit: August 06, 2014, 04:34:39 PM by altcoinUK
 #12340


If we are talking the former (market), there are plenty of examples of FAILED marketplaces already, both within the platform of coins and out of them. The idea of a crypto-based ebay, as opposed to Pay-Pal based Ebay, simply doesn't work. Decentralized, even less. Period. Forget it, file, destroy. Never think about it again.

If we are talking about an "exchange" where you can trade crypto for crypto and fiat for crypto and viceversa, we already have several quite established, one partial (Coinbase, only BTC for fiat and viceversa) and one full out (Cryptsy). Now, it seems to me when the adjective, the "magic wand") is added, we are referring to an underground market and/or exchange... and that's just an absurd pipe dream with no viability whatsoever nor practical purpose.

Yes there was -and I understand there still is- Silkroad. And yes, it was/will be put down again and again. There's simply no future in it and, definitely, not for a coin which is bent in reaching mass mainstream adoption and operate within the laws.


I would disagree with you on that.

The reason Ethereum is so successful, because it promises to be the first application that perform smart contracts in a blockchain enabled infrastructure. The center piece of the technology, the entity that creates so much excitement and brought to Ethereum 46,000 BTC that is equivalent to US$ 13.5 million in two weeks is the smart contract concept. What are the primary use cases of smart contracts? Decentralized market places and decentralized exchanges.
Now wonder a whole bunch of VCs and tech entrepreneurs are excited about the technology and Ethereum (check out what the Linkedin founder says about smart contracts at http://bit.ly/Wdp9tM).
You can call me crazy or whatever you want, but you can't deny the success of Erthereum, and that success is all about smart contracts and decentralized apps. In a smaller scale you can see what is happening in our market - the money is flowing even to ViaCoin (probably from Vericoin) and all they said decentralized exchange.

You are a very smart fellow Barrabas, but I think you have overlooked something in this case so please check your facts, what the technology means and market dynamics regarding to smart contracts and decentralized apps.

Sorry about the poor English again before you point that out :-))
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