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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1349966 times)
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August 27, 2014, 02:30:48 PM
 #14441

Just a scenario to ponder. The deal sounds really good, like, why not start it yesterday? Its free money right?

I emplore everyone to think of the attempts to bring down this coin in the past. This deal may be great, it may be bad. But please, do think about the implications of giving someone ability to modify codes, and the malicious things they could do.

I have no evidence, or even beliefs its the case here. But with the attacks on MP, DDOS attacks, and the overall hate that VRC seems to get from a vocal few. Remember the hack attempt? They extorted no btc from vericoin, you can imagine that they are not very happy. I believe forces could be at work that are still trying to bring this coin down, for whatever reasons where set out months ago when these attacks began.

If we where a coin, with no enemies, and nothing to lose I would say, start this plan juggernuts yesterday.

Realize VRC has enemies, and giving them access to make potentially malicious code that may seem legit, until its to late.

Why else would we have a RISK free offer to make easy money? I urge you all to think about it. I PM'd Doug some interesting points touching on a few subjects that, if successful will get us to be relevant. Its a unique approach that would benefit all of crypto, especially Vericoin. It won't be easy, people will have to do work, but the vision is there.

What I PM'd Doug about over the past few days. This debate is going the wrong direction, IMO once again. From what I believe the "culture" of VeriCoin should be. The goals I set out could become a reality with proper support and coordination. We need to think about investment differently in virtual currency to overtake bitcoin. We need to open up a new culture, a new market, a new way to invest in virtual currencies. The market opening up in 6-18 months is our chance to separate. This doesn't require immediate action, and failure! It requires thoughtful, quality work, and coordination.

An ETF is a basket of assets. Tell me what coins are positioned to be clean, scrubbed down and ready to be invested in by people who demand accountability? VeriCoin has all the accountability, integrity and connections that a coin would need to be considered for this ETF. We will see if this has legs, and I don't really want to give mention to what I spoke to with Doug, because It was a PM, and I feel that, if he is taking me serious, this could be a step forward to something larger than a "coin" and we could become THE virtual currency. It's not worth the loss of value, and there will only be room for so many coins taking this approach. Without going into detail, this potential shift in strategy would provide a clear vision for the future, with many actionable steps that will be taken along the way. Each of these designed to bring our currency longterm value.

Virtual currencies may look to stop competing with vericoin, and as part of the culture we could build on, many may actually want to work closer with us. A lot of big companies are looking at crypto currencies. Why not be that coin to WELCOME them all into our ecosystem, and culture. I have shown the light in which both coins could benefit from such an "outside the box" approach.

We will see what happens. If you expect the price to jump today, tomorrow, or even after you all know whats going on, don't count on it. I propose a lot of work for everyone in the community. I had Doug mention to me that my words may have inspired him in some way. I hope you all realize that this coin can be much more than the flavor of the month if you guys give them proper support and guidance. These guys want to do the right thing, desperately. Lets get on track and you will see a return to what made vericoin special.

The current state of crypto currency is war. Competing for the same dollars that are invested. I proposed a way to be not only peaceful, but to unite crypto currencies. To be a leader in regulation, to be honest, have integrity.. We need to use our strengths better, and shore up our weakness. The plan I proposed looks at the past months sample of work. I provided reasoning, and strategy that can turn vericoin into a powerhouse with not 1 technological advancement, even though these would be welcome to.

Good post!  Would you mind elaborating on what you mean by "clean and scrubbed down"? What other top coins would not fall in that category? Thanks.

Coins with hidden developers, anonymous coins. Anything that would detur an exchange traded fund from owning it. The "COIN" ETF is going to bring in money from inside / outside of crypto. If you look at likely reality, the bubble is still forming in financial markets, if it doesn't and the bubble "pops" Virtual Currencies can win from that to.

I think our goal of bringing in money from outside crypto is the right goal. And, with patience, and willingness to work, our timing might be incredible if we come out with a ready product for the ETF market. When financial markets are bubbling hotter, and people are looking more aggresive than ever at speculative investments. I think you could see some real action next year in virtual currencies. You will have that ETF launch, coinciding with a Bitcoin halving again in about 2 years from now give or take.

Credibility, integrity, honesty. These are all things that people will want to see in a coin they are buying for an ETF. These things are built up over time. The last thing they want is PR that the coins they invest in are scams.

We can pave what the future Virtual Currency landscape stands for, while progressing blockchain technologies in more cooperative settings. Infact I think we can grow exponentially if we are one of the first coins to take on this task, with a credible team.

Vericoin ETF. No way mate. Not gonna happen ever.

Bitcoin will be the place to store your wealth, and no coin will compete with this. Something like BitShares will also be used as an investment product, a bit more like investing in a stocks.

Therefore having Vericoin positioned as currency allows us to complement Bitcoin and BitShares(or whichever Blockchain 2.0 coin becomes dominant). So the Devs idea of mass adoption is a good one we just need to make sure we have a solid strategy which I think is lacking so far.



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altcoinUK
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August 27, 2014, 02:39:12 PM
 #14442


Bitcoin will be the place to store your wealth, and no coin will compete with this. Something like BitShares will also be used as an investment product, a bit more like investing in a stocks.


Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

Having said that Buy4Crypto's effort is great, at least he realised that the brainless cheerleading won't help and something needs to be done. I think Barrabas' "good guys" theme makes lot of sense, that could work especially if ppl like Buy4Crypto support the idea.
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August 27, 2014, 02:50:17 PM
 #14443

Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

So you admit you're repeating yourself? Glad someone has the energy in these summer doldrums.

Anyway, who said anything about VRC replacing bitcoin? BTC will likely evolve into digital gold,  a store of value with low velocity. VRC can be cash to that gold.

To progress this cash idea further, is anyone interested in writing a service  to send VRC through Facebook or Twitter? Similar to VeriSMS, they could be called VeriPoke and VeriTweet.
kasman5
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August 27, 2014, 02:51:34 PM
 #14444


Bitcoin will be the place to store your wealth, and no coin will compete with this. Something like BitShares will also be used as an investment product, a bit more like investing in a stocks.


Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

Having said that Buy4Crypto's effort is great, at least he realised that the brainless cheerleading won't help and something needs to be done. I think Barrabas' "good guys" theme makes lot of sense, that could work especially if ppl like Buy4Crypto support the idea.

Try reading the rest of my post instead of cherry picking quotes. My point was this is exactly why Vericoin should be positioning as mainstream digital currency because we will see the leading crypto-currencies gravitate towards being cyrpto-equities. leaving room for something like Vericoin to move into the existing crypto-currency void.

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August 27, 2014, 02:58:52 PM
 #14445

Try reading the rest of my post instead of cherry picking quotes. My point was this is exactly why Vericoin should be positioning as mainstream digital currency because we will see the leading crypto-currencies gravitate towards being cyrpto-equities. leaving room for something like Vericoin to move into the existing crypto-currency void.

I was quoting altcoinUK, not you.

But since we are chatting, I'd have to say an ETF or ETC for VRC is highly probable if this currency has any future.
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August 27, 2014, 03:01:30 PM
 #14446

Try reading the rest of my post instead of cherry picking quotes. My point was this is exactly why Vericoin should be positioning as mainstream digital currency because we will see the leading crypto-currencies gravitate towards being cyrpto-equities. leaving room for something like Vericoin to move into the existing crypto-currency void.

I was quoting altcoinUK, not you.

But since we are chatting, I'd have to say an ETF or ETC for VRC is highly probable if this currency has any future.

If we show the willingness to not only be a part of the ETF, but to get out in front and be pro active to get values in place that will be accepting of the regulation that will come with that territory. it will show we are ready to take that step, being the first one will give us credibility with the large funds out there that may choose to invest in not just bitcoin, but alternatives to increase beta.

We still have ideas in place to not only be a part of moving the technology forward, but to be a "key player" in the alt space. It won't be easy, nor will we be given instant credibility. So this isn't a sure shot. But its the best chance, in the long line of longshots alts are to gain us the credibility to take the next step, and become something more.

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August 27, 2014, 03:04:42 PM
 #14447


Bitcoin will be the place to store your wealth, and no coin will compete with this. Something like BitShares will also be used as an investment product, a bit more like investing in a stocks.


Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

Having said that Buy4Crypto's effort is great, at least he realised that the brainless cheerleading won't help and something needs to be done. I think Barrabas' "good guys" theme makes lot of sense, that could work especially if ppl like Buy4Crypto support the idea.

Try reading the rest of my post instead of cherry picking quotes. My point was this is exactly why Vericoin should be positioning as mainstream digital currency because we will see the leading crypto-currencies gravitate towards being cyrpto-equities. leaving room for something like Vericoin to move into the existing crypto-currency void.

LoL actually that's true, I didn't read the rest of the post.

I purely speculate when I say worldwide mass adoption theme is a delusion, and you could be right that it is doable. Since vericoin can't even convince the crypto currency literate geeks and the current exchange users to support the coin, I can't see what would convince the general public to adopt vericoin as a digital currency instead if using Bitcoin. As you said it should offer some feature that complement to BTC. Like blockchain 2 features, which I have been banging on here for a while. Again, nothing is a certainly winning recipe, saying the blockchain 2 feature would help is speculation as well.
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August 27, 2014, 03:09:47 PM
 #14448

hello folks just checking in see how the VRC family is doing. I have been caught up trying to find miners from actual companies at good prices that not scams lol hard work i tell you.  Wink

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August 27, 2014, 03:11:49 PM
 #14449

Try reading the rest of my post instead of cherry picking quotes. My point was this is exactly why Vericoin should be positioning as mainstream digital currency because we will see the leading crypto-currencies gravitate towards being cyrpto-equities. leaving room for something like Vericoin to move into the existing crypto-currency void.

I was quoting altcoinUK, not you.

But since we are chatting, I'd have to say an ETF or ETC for VRC is highly probable if this currency has any future.

I was also quoting altcoinUK lol.


Maybe I should have been clearer, I don't think an ETF will happen within the current financial system. Like the Winlkle twins are doing. I assume this was the type of ETF he is on about.

I stupidily assumed this was the type of ETF you were on about, if not sorry for jumping to conclusions. We could set up an ETF now on BitShares right now with a cost of about $5000. Could be big if we partner with them officially, and then partner with an exchange to offer BTCX/VRC trading pair.




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August 27, 2014, 03:12:08 PM
 #14450

Like blockchain 2 features, which I have been banging on here for a while. Again, nothing is a certainly winning recipe, saying the blockchain 2 feature would help is speculation as well.

Ethereum needs a competitor. Institutional investors and established technology companies will demand it. Vericoin should declare itself to be the competition. Given Dev3's interest in this area and the soon to be expected frenzy that will seek out blockchain 2.0 apps, this would be a smart move.
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August 27, 2014, 03:15:15 PM
 #14451

Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

So you admit you're repeating yourself? Glad someone has the energy in these summer doldrums.

Anyway, who said anything about VRC replacing bitcoin? BTC will likely evolve into digital gold,  a store of value with low velocity. VRC can be cash to that gold.

To progress this cash idea further, is anyone interested in writing a service  to send VRC through Facebook or Twitter? Similar to VeriSMS, they could be called VeriPoke and VeriTweet.

I expect a consolidation in the digital currency world and only 1-2 digital currencies survive eventually, probably only Bitcoin. However, there could be many digital currency and blockchain enabled applications such as Ethereum and other platforms, that provides a framework for different type of use cases and in order to perform the use case you need to use the platform specific digital currency, which is in the case of Ethereum ether. In my opinion if vericoin can find that specific use case like decentralized exchange, decentralized marketplace, rolling doughnut hole that accept flying fucks or whatever is a USEFUL USE CASE than it is a good chance to get even 100 million users. If you just want to be the generic digital currency then you directly compete with Bitcoin, and there is no chance in my opinion.
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August 27, 2014, 03:15:39 PM
 #14452


Bitcoin will be the place to store your wealth, and no coin will compete with this. Something like BitShares will also be used as an investment product, a bit more like investing in a stocks.


Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

Having said that Buy4Crypto's effort is great, at least he realised that the brainless cheerleading won't help and something needs to be done. I think Barrabas' "good guys" theme makes lot of sense, that could work especially if ppl like Buy4Crypto support the idea.

Try reading the rest of my post instead of cherry picking quotes. My point was this is exactly why Vericoin should be positioning as mainstream digital currency because we will see the leading crypto-currencies gravitate towards being cyrpto-equities. leaving room for something like Vericoin to move into the existing crypto-currency void.

LoL actually that's true, I didn't read the rest of the post.

I purely speculate when I say worldwide mass adoption theme is a delusion, and you could be right that it is doable. Since vericoin can't even convince the crypto currency literate geeks and the current exchange users to support the coin, I can't see what would convince the general public to adopt vericoin as a digital currency instead if using Bitcoin. As you said it should offer some feature that complement to BTC. Like blockchain 2 features, which I have been banging on here for a while. Again, nothing is a certainly winning recipe, saying the blockchain 2 feature would help is speculation as well.

Haha fair enough.

I'm still not sure I've got my point across. Who will want to use Bitcoin as a currrency when confirmations are so slow. It's OK for some stuff but when things are time critical your gonna want to use something like VRC.

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August 27, 2014, 03:20:54 PM
 #14453

Like blockchain 2 features, which I have been banging on here for a while. Again, nothing is a certainly winning recipe, saying the blockchain 2 feature would help is speculation as well.

Ethereum needs a competitor.

That's absolutely correct.

Like blockchain 2 features, which I have been banging on here for a while. Again, nothing is a certainly winning recipe, saying the blockchain 2 feature would help is speculation as well.

Given Dev3's interest in this area and the soon to be expected frenzy that will seek out blockchain 2.0 apps, this would be a smart move.

I am not sure about that seeing the progress and lack of expertise in the area. When I asked EffectsToCause two days ago he couldn't say any concrete information about the progress, it seems to me the devs can't even complete their first white paper. Then how far are they from Gavin Wood's excellent yellow paper that is not only a high level software document but a remarkable scientific paper in my opinion. If you are talking about competing with Ethereum then you compete with Gavin Wood and Buterin, not an easy task at all :-))
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August 27, 2014, 03:25:23 PM
 #14454


Bitcoin will be the place to store your wealth, and no coin will compete with this. Something like BitShares will also be used as an investment product, a bit more like investing in a stocks.


Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

Having said that Buy4Crypto's effort is great, at least he realised that the brainless cheerleading won't help and something needs to be done. I think Barrabas' "good guys" theme makes lot of sense, that could work especially if ppl like Buy4Crypto support the idea.

Try reading the rest of my post instead of cherry picking quotes. My point was this is exactly why Vericoin should be positioning as mainstream digital currency because we will see the leading crypto-currencies gravitate towards being cyrpto-equities. leaving room for something like Vericoin to move into the existing crypto-currency void.

LoL actually that's true, I didn't read the rest of the post.

I purely speculate when I say worldwide mass adoption theme is a delusion, and you could be right that it is doable. Since vericoin can't even convince the crypto currency literate geeks and the current exchange users to support the coin, I can't see what would convince the general public to adopt vericoin as a digital currency instead if using Bitcoin. As you said it should offer some feature that complement to BTC. Like blockchain 2 features, which I have been banging on here for a while. Again, nothing is a certainly winning recipe, saying the blockchain 2 feature would help is speculation as well.

Haha fair enough.

I'm still not sure I've got my point across. Who will want to use Bitcoin as a currrency when confirmations are so slow. It's OK for some stuff but when things are time critical your gonna want to use something like VRC.

Haha or not haha ... I am frequently informing about that questions users here who are (just like you) not familiar with the blockchain and the BTC source and programming aspects of the BTC blockchain, what you can do with BTC. Look at the conversation 4-5 days ago when I explained here timed transaction that allows instant transactions in a kind of trustless manner using green addresses on the BTC blockchain.
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August 27, 2014, 03:26:48 PM
 #14455

If you are talking about competing with Ethereum then you compete with Gavin Wood and Buterin, not an easy task at all :-))

It won't be easy, but we are all men, so there's no need to be intimidated by others' talents.

I'd say the first step to competing with Ethereum is to declare so publicly. Believe me, the Ethereum devs would welcome this. It would also be a bit of a coup publicity-wise for Vericoin.
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August 27, 2014, 03:35:36 PM
 #14456

If you are talking about competing with Ethereum then you compete with Gavin Wood and Buterin, not an easy task at all :-))

It won't be easy, but we are all men, so there's no need to be intimidated by others' talents.

I'd say the first step to competing with Ethereum is to declare so publicly. Believe me, the Ethereum devs would welcome this. It would also be a bit of a coup publicity-wise for Vericoin.

Yeah, you are right, I always say this that vericoin should try to compete in this area. On the other hand, needs to be realistic, because the outcome of the competition doesn't depend on who is the less intimidated and most ambitious, but mainly depend on a) expertise  b) hard work.

I am not sure if you are familiar with East Asia, when I am on business trip I always see the little Chinese guys on the basketball fields in Taipei - they are ambitious and not intimated, but they will never compete with Lebron James, because they are little, slow and by default configuration aren't suited for competitive basketball game.
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August 27, 2014, 03:40:06 PM
 #14457


Bitcoin will be the place to store your wealth, and no coin will compete with this. Something like BitShares will also be used as an investment product, a bit more like investing in a stocks.


Correct. That's what I have been telling here for weeks, the worldwide mass adoption theme is a delusion. Vericoin won't be able to replace Bitcoin nor seriously compete with it at any level.

Having said that Buy4Crypto's effort is great, at least he realised that the brainless cheerleading won't help and something needs to be done. I think Barrabas' "good guys" theme makes lot of sense, that could work especially if ppl like Buy4Crypto support the idea.

Try reading the rest of my post instead of cherry picking quotes. My point was this is exactly why Vericoin should be positioning as mainstream digital currency because we will see the leading crypto-currencies gravitate towards being cyrpto-equities. leaving room for something like Vericoin to move into the existing crypto-currency void.

LoL actually that's true, I didn't read the rest of the post.

I purely speculate when I say worldwide mass adoption theme is a delusion, and you could be right that it is doable. Since vericoin can't even convince the crypto currency literate geeks and the current exchange users to support the coin, I can't see what would convince the general public to adopt vericoin as a digital currency instead if using Bitcoin. As you said it should offer some feature that complement to BTC. Like blockchain 2 features, which I have been banging on here for a while. Again, nothing is a certainly winning recipe, saying the blockchain 2 feature would help is speculation as well.

Haha fair enough.

I'm still not sure I've got my point across. Who will want to use Bitcoin as a currrency when confirmations are so slow. It's OK for some stuff but when things are time critical your gonna want to use something like VRC.

Haha or not haha ... I am frequently informing about that questions users here who are (just like you) not familiar with the blockchain and the BTC source and programming aspects of the BTC blockchain, what you can do with BTC. Look at the conversation 4-5 days ago when I explained here timed transaction that allows instant transactions in a kind of trustless manner using green addresses on the BTC blockchain.

Yes I have neglected Greenadress' but with this adding to the 1mb transaction problem I think there's a need for other Blockchains such as VRC.

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August 27, 2014, 03:46:22 PM
 #14458

I think that being a asset to people creating value in crypto, instead of competition could be a unique approach that could seperate this coin from others. Perhaps we can create technological advancements, its not to say we can't. But, IMO, with how fast crypto moves, If we take the approach, of a nimble helper, rather than bunker down with 1 thing or another. It may give us a new approach that will give us the value of many leading edge projects, while keeping our project nimble, and ready for the changing landscape that will come up, and we must be leading the way for. When it comes time to implement things for vericoin we would gain from having relationships with the developer teams. This could pay off in many ways at a later date.

By being focussed on culture, and quality we can pick and choose the best open source projects to make VeriCoin a clean, streamlined currency meant for trade. We can support projects with projects, we support other community, with our community. We can stop a project, and move on when they aren't going to pay off for our vision, and we can pickup projects like that, and increase the value, and integration for both at the same time.

Nobody has taken the roll of Virtual Currency incubator. I think that if we prove that we are capable in our own right, and that people will seek out vericoin for help on projects, this will further the credibility we have, and make clear to everyone what VeriCoin is, and will be. What VeriCoin stands for, and what it doesn't. We would be champions of everything blockchain, blockchain 2.0, and be professional.

We can become much greater than the sum of the parts.

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altcoinUK
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August 27, 2014, 03:50:18 PM
 #14459


Yes I have neglected Greenadress' but with this adding to the 1mb transaction problem I think there's a need for other Blockchains such as VRC.

I agree with that, as I said you are quite right that there is place for other blockchains - for specific use cases.

All I tried to point out was that the most assumed use case the instant transaction is probably not the best one, because BTC can do that with green addresses and other payment service provider specific solutions. From the generic end users' viewpoint the green address and other existing solutions to perform instant transactions are perfect. The generic end users keep their private keys at online services lately, they could not care less about the implementation and how the BTC instant transaction works, it is there and it is good enough. Vericoin is not going to beat BTC because by offering instant transactions, that's for sure.
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August 27, 2014, 03:59:38 PM
 #14460


Yes I have neglected Greenadress' but with this adding to the 1mb transaction problem I think there's a need for other Blockchains such as VRC.

I agree with that, as I said you are quite right that there is place for other blockchains - for specific use cases.

All I tried to point out was that the most assumed use case the instant transaction is probably not the best one, because BTC can do that with green addresses and other payment service provider specific solutions. From the generic end users' viewpoint the green address and other existing solutions to perform instant transactions are perfect. The generic end users keep their private keys at online services lately, they could not care less about the implementation and how the BTC instant transaction works, it is there and it is good enough. Vericoin is not going to beat BTC because by offering instant transactions, that's for sure.

Yes I would agree with everything you said.

However I believe as Bitcoin moves to being deflationary, technically inflationary at the moment, then Vericoin has an advantage as it encourages people to spend as we have what, 1.5-2.5% inflation or as we are calling it Dynamic interest.


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