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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1346448 times)
barabbas
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August 13, 2014, 12:27:05 AM
 #12921

@barabbas

coinweight is a much better indicator for time estimation of your block/interest time.
the amount of coins alone wont give a clear indication therefor.
this is the reason why coinweight is displayed.
i agree though that it would be nice to see the amount of coins staking too and as already stated it will be implemented.

This is where I normally "lose it". Indicator of what, how much your staking coins are producing? It cannot be more than 2.5% TOTAL, IN A YEAR so who the hell cares even remotely about that?? Come on... I understand it will be an indicator of some loose value for the devs to know the strength, so to speak, of the network, but they will have a very close idea of it by looking at the REAL numbers, just the same.

So, I will repeat: Meaningless.

for people who are staking its quite important to know when they probaly get a block - even more if you are staking 24/7. also additionaly to the interest you also receive tx fees.
with this marketcap right now its not much, but with a higher marketcap this can be alot of money.


Why don't you elaborate a bit more on that subject? It seems to me there have been a bunch willing to jump on the high end of insults and really adding no knowledge to the matter...

i am not sure if you understand what i am talking about, but i will try to explain.

im telling you that it is very important from a perspective of a staker to know when he actually stakes a block.
you can compare this to bitcoin mining, the miner also wants to know when he gets a block or rather a time estimation of that.

the transactions fees was just one of the reason why it is important to know how much time you need to stake/mine a block.
every block contains x amounts of transactions which contains transactions fees which goes to the staker/miner of the block.


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when you say "a lot of money", what is "a lot of money" to you? Because, in my book, I don't care what valuation it has -I mean I DO care, very much, but you get my meaning-, 2.5% is just a very paltry percentage of whatever the amount is, something that can be achieved many times, a day, just trading those coins, so as far as profitability it is nil. Now, if through fees I can get "a lot of money" staking, additionally, it could be quite the selling point, so please DO elaborate on this and be free top use different price scenarios.

well if vericoin has a higher marketcap the interest and txfee's you receive as a staker will be much more worth then it is if the marketcap would be lower. that was all i wanted to point out.

that you dont care about 2,5% because you think every daytrader does alot of profit is neither true nor related to my explaination or the question itself.

interest rate in pos coins is just the incentive to providing support to the network like mining bitcoin blocks give you right now 25 btc + txfee's of that block.


I did understand perfectly. And that incentive of 2.5% is paltry to say the list (nothing negative about it, just a fact). And so are the fees that stakers will be collecting. When you say it is not true that any daytrader can make many times 2.5% kin a single day, well what can I say. Bots make much more than that and the person doesn't need to be even "working". Those are facts. I do understand though that there are many people who stake because they are looking for much bigger gains, with time, and every bit helps. Fact is though that holding and staking, unless the price goes up, is a losing proposition.

For the purpose of investing, new investors, that are needed for the price and the project to progress, what counts is the strength of the stake holders. And that strength is measured in REAL coins holding in their wallets, staking or not (preferably the former), not some wildly oscillating number that represents the strength of the network.

I agree having both, since it is quite easy and possible, is hitting the jackpot, so to speak.
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barabbas
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August 13, 2014, 12:28:29 AM
 #12922

Every other POS coin shows stake weight as coins staking in there wallets. Correct me if I'm wrong please!

If that is the case, they are misleading, by omission, the community and potential investors.
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August 13, 2014, 12:29:51 AM
 #12923

how is the butthurt? This is going where all the other flashmined coins go: zero

(just dumped my cinni today)

I'd ask you to invest your cinni-buns in VRC, but we really need "smart" money ATM... Top 100 wallets (and likely more) are proof of smart money invested in VeriCoin.

Stake Weight is 22.2M ATM

I'd be interested in some naked shortselling. Someone wants to lend me some vrc? I'll give you back +3% vrc in a few weeks.

I bought in at 8.6K the price is right now 10K, the 3% isn't attractive enough.
Btw, this is a strong community. You will see, if you offer a better return you will get many offers in no time, many community members believe in the price increase and many of them will lend you against your short selling.
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August 13, 2014, 12:38:08 AM
 #12924

Every other POS coin shows stake weight as coins staking in there wallets. Correct me if I'm wrong please!

If that is the case, they are misleading, by omission, the community and potential investors.

I have just purchased VRC, are you saying the information in the wallet is misleading?

Btw, I just watched the hangout at youtube, really great stuff, clear plans and very good prospects. The PR team and plan is very strong, a PR company will be hired and the coin will be taken to the latino community. I have to agree with some of the IRC members that 1VRC=$1 price is very likely.
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August 13, 2014, 12:45:53 AM
 #12925

Sorry, I forgot, here is the hangout video at https://www.youtube.com/watch?v=l8cHSsNYtNA  This is really encouraging!
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August 13, 2014, 12:46:09 AM
 #12926

Wow, check out ShadowCoin guys... first full mobile wallet that supports staking, p2p encrypted messaging, and stealth transfers. 

https://bitcointalk.org/index.php?topic=700087.msg8321871#msg8321871
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August 13, 2014, 01:03:17 AM
 #12927

RW Stott

we dont need to know about shadow coin here you sure your not lost?.

Can you answer my question posed on that thread. ?.

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August 13, 2014, 02:06:31 AM
 #12928

Guys, if you feel misled about the staking numbers -- I mean no offense -- but that's your own fault. Every POS coin I've seen uses a calculation that includes coin age to determine the network "stake weight". This does not exactly equate to an accurate number for total coins in stake. This is an inherent function of Proof of Stake technology. This is however a good opportunity for the VRC devs to introduce a way to show an accurate number of actual coins in stake.
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August 13, 2014, 02:38:50 AM
 #12929

Every other POS coin shows stake weight as coins staking in there wallets. Correct me if I'm wrong please!

No, every POS coin shows stake weight as the stake weight, with coin age factored in.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
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August 13, 2014, 02:42:05 AM
 #12930

Hi guys,

I have been reading about all the traded coins in the last few weeks at the bitcointalk threads. The community support for VRC is simply amazing. Finally, I decided to jump in and completed my first VRC buy transaction at Bittrex. Thanks for creating this great crypto coin!
Btw, I am based in Luxembourg and would be more than happy to promote VRC here.


Glad to have you part of the community Wink The more people like yourself the better off we will become!
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August 13, 2014, 02:46:54 AM
 #12931

Guys, if you feel misled about the staking numbers -- I mean no offense -- but that's your own fault. Every POS coin I've seen uses a calculation that includes coin age to determine the network "stake weight". This does not exactly equate to an accurate number for total coins in stake. This is an inherent function of Proof of Stake technology. This is however a good opportunity for the VRC devs to introduce a way to show an accurate number of actual coins in stake.

It's just one of those things that got carried over from the original wallet code. Nobody's really had any reason to give any attention to it until now. VeriCoin seem to be the only coin with such a large percentage of owners staking their coins and that thrust the Network Stake number into the spotlight. I bet a lot of other devs will end up releasing updated wallets, too. Cheesy

One thing that I'd like to see in the wallet is the stake weight of my own coins. Perhaps as a replacement tooltip when I mouse-over the number of coins that are currently staking.

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August 13, 2014, 03:00:46 AM
 #12932

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.
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August 13, 2014, 03:09:06 AM
 #12933

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.

Jump in IRC many people will answer your question there
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August 13, 2014, 03:11:09 AM
 #12934

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.

I'm not an expert by any means but from a wallstreet point of view - when you see "insiders" accumulating stock it's often a green flag as a buying signal. The fact that those who hold the top % are already heavily financially invested yet they continue to invest more money into the company (or in this case, the software/idea/coin) it typically means there are good things to come. Usually the top % holders have the first take at inside information - I.E they know whether good things or bad things are in the foreseeable future.

So the point being - if you see top Vericoin holders buying more Vericoin, that means they are confident it's going to go up in value. Visa versa if you see top coin holders selling out - it's usually a sign that they know things are falling apart. It's not 100% always that way but it's probably a 60/40 or 70/30 to be true.
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August 13, 2014, 03:42:00 AM
 #12935

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.

I am not sure what your question is referring to. Accumulation is one thing and big percentage numbers of coins staking or otherwise locked up in wallets, is another entirely. Since no accumulation is taking place in VRC -the top 100 wallets added 20,000 coins the past week, according to some research done and post here-, I believe you are referring to the fact that up to 80% of the total amount of Vericoins is currently in wallets outside of the esxchanges and mostly staking.

This is VERI good and...VERI bad. The good is because is reinforces the strength of the blockchain and, de facto, makes it almost impossible a 51% attack. Also on the VERI good side, it shows  the confidence and commitment of the main stakeholders, which are staking their coins instead of trading them for a bit of profit like traders/speculators do. Additionally, reducing the number of coins available for trading, theoretically, will make the coin scarce and new buyers will have to pay more... this is being proven completely wrong by the market since VRC has been, and so far remains, in a downward spiral with great selling pressure taking the price to the lowest levels since launch... at which levels currently remain. So much for scarcity!

And this is VERI bad because, by definition and purpose, crypto currencies are made and design to be SPENT, not saved or kept. In fact, that only 20% of the entire float is available for trading, severely limits the actual usability of the coin in the real world. Since the valuation of the coin is so minimal, and, subsequently, the market cap total is so modest, this "accumulation" is imperative to protect the vulnerability of the coin to 51% attacks... as we show recently when only 8 million coins would have destroy the coin instantly. Naturally, if VRC ever reaches a valuation 5, 10, 100 times higher than current levels, it would be much more costly for an individual or a group to perpetrate a 51% attack and therefore the importance of the % of coins staking or otherwise away from the exchanges, will diminish exponentially.

Let me give you another scenario possible: With 20 million of it's 27 total million coins, in individual wallets, if anyone were to buy ALL the 7 mill available coins (an "investment" of $340,000 at current price), the actual trading of the coin will cease, it's price go to zero almost immediately and the stakers would have exactly that, ZERO value in their wallets. The coin would effectively be dead.

So this amount of staking is not healthy, obviously, or pricewise efficient. Much less is needed to maintain the blockchain and prevent the possibility of a 51% attack... any group could easily "buy" enough for very little money right now, effectively destroying the coin.  A bit of a situation, indeed, if prices remain or, worse yet, if they go any lower.

Of course if they go lower, no one will have any interest in VRC, much less in liquidating it.
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August 13, 2014, 03:47:17 AM
 #12936

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.

I am not sure what your question is referring to. Accumulation is one thing and big percentage numbers of coins staking or otherwise locked up in wallets, is another entirely. Since

What I meant to ask is if someone who actually knows what they're talking about could answer.  That ain't you.
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August 13, 2014, 03:51:01 AM
 #12937

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.

I am not sure what your question is referring to. Accumulation is one thing and big percentage numbers of coins staking or otherwise locked up in wallets, is another entirely. Since

What I meant to ask is if someone who actually knows what they're talking about could answer.  That ain't you.

What are you trying to clarify? Why it's a good thing top coin holders are accumulating?
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August 13, 2014, 03:59:30 AM
 #12938

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.
What are you trying to clarify? Why it's a good thing top coin holders are accumulating?

I think your previous reply is what he was looking for. You did a nice job explaining it.

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Morb
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August 13, 2014, 04:03:08 AM
 #12939

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.

I am not sure what your question is referring to. Accumulation is one thing and big percentage numbers of coins staking or otherwise locked up in wallets, is another entirely. Since

What I meant to ask is if someone who actually knows what they're talking about could answer.  That ain't you.

What are you trying to clarify? Why it's a good thing top coin holders are accumulating?

Your explanation was fine, thanks.
barabbas
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August 13, 2014, 04:05:51 AM
 #12940

I was just reading Matthew Bonari's very interesting article on vericoinnews, (http://vericoinnews.info/latest-news/stakeholder-confidence-milestones-and-blockchain-analytics/), and was wondering if it would be possible to elaborate on why the accumulation is a good thing.

I am not sure what your question is referring to. Accumulation is one thing and big percentage numbers of coins staking or otherwise locked up in wallets, is another entirely. Since

What I meant to ask is if someone who actually knows what they're talking about could answer.  That ain't you.

What are you trying to clarify? Why it's a good thing top coin holders are accumulating?

Your explanation was fine, thanks.

That was a misspost, obviously. Your subsequent one is pure, raw idiocy and therefore do not consider my answer at all directed to you but more towards anyone that has some doubts about what this "staking fever" can mean. Any kind of response whatsoever from you will be immediately dismissed, so fuck you, ok?
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