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Question: Where would you prefer the VRC/VRM exchange pair be?
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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1342275 times)
neutraLTC
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June 02, 2014, 09:50:22 PM
 #1461

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC, thats my biggest problem is the disconnect between mining and exchange by the time I mine enough for the min withdrawl limit, find the most profitable exchange, create an account on said exchange (if I dont already have one), wait for it to show up in my exchange, and then sell, the price has normally already gone down from when it was most profitable therefore.....this same option on a regular multipool would be amazing

I think we have some other priorities to focus on before we start a BTC multipool. We have some ideas about anon, need to implement more of the optimized buying algorithm, and have some point-of-sale/storefront ideas we're also working on. Hopefully some others start developing stuff for VeriCoin but if not, we will be able to slowly but surely grow the VRC economy into one that rivals BitCoin.

I like your thinking, ive been following this coin since day one, i have a great 'gut' feeling on this coin.

Business Development www.BTC.com Check out our iOS & Android wallet!
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Kevondo
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June 02, 2014, 09:50:32 PM
 #1462

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC, thats my biggest problem is the disconnect between mining and exchange by the time I mine enough for the min withdrawl limit, find the most profitable exchange, create an account on said exchange (if I dont already have one), wait for it to show up in my exchange, and then sell, the price has normally already gone down from when it was most profitable therefore.....this same option on a regular multipool would be amazing

I think we have some other priorities to focus on before we start a BTC multipool. We have some ideas about anon, need to implement more of the optimized buying algorithm, and have some point-of-sale/storefront ideas we're also working on. Hopefully some others start developing stuff for VeriCoin but if not, we will be able to slowly but surely grow the VRC economy into one that rivals BitCoin.

BRAVO!!! pnosker

I'm with Ya all the way!

.

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SpruceMoosey
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June 02, 2014, 11:15:18 PM
 #1463

ok i missed something obviously I thought we were in PoS therefore how are we mining VRC?

Still in its infancy, the crypto world we R traveresing is a cyber-conundrum. The vast majority of people can't get their head around How BTC works. Those immersed in it R pressing on into the unknown creating code that's nebulous to all but those with IT and coding chops.

Here's how I THINK! Vericoin is proceeding.

POW is over. There is no publicly, active, mining going. Nor will there be. 26 Million Vericoin have been created.

HOWEVER. Staking creates/mines coins to pay the interest on coins being staked. So the Block chain is being added too by this action

Coins must be in Wallets to Stake. If U keep your wallet open it's good for the stability of the network and the coins "age/mature" and are awarded interest every 8 hours they remain in the wallet continuously. While staking, these coins cannot be spent/transferred. You can set a reserve in your wallet so you can ALWAYS have the number of coins that U may want to trade or spend available.

The accounting of Spendable, Available, and unconfirmed is tracked by the wallet.


If u open your wallet once a year U will receive the staking interest for all coins that have been in there for more than 8 hours. Then they will begin aging/maturing again. In the once a year scenario I believe (not sure) all the staked coins would then mature in 8 hours and pay interest

For always Open Wallets: As Coins start aging when they arrive in your wallet, every 8 hours they remain there "Staking"  they generate interest. All interest is compounded. It's virtually impossible to get all your vericoin to stake simultaneously.

The VeriCoin Multipool

All hash (scrypt or X11 only) pointed @ the MultiPool is managed by an algorithm which selects the most profitable coins to mine @ that time. The coins being mined are anonymous to everyone but the pool master. The spoils from mining will then be sold on the open market for BTC on the exchange offering the best price. The total resulting BTC will then be used to BUY Vericoin (again @ the best price) on the open market and then distributed to the share holders in the MultiPool.

Payouts will be made @ an interval to be decided but more than once a day.

All this will happen automatically once the algo for the Multipool is complete.

Can U C the intricacies of coding that this algo requires? This is why it takes time  and why we R lucky to have

The Best Development Team in Crypto

working tirelessly in the best interest of the Crypto Community to make this daunting piece of software known as Vericoin a true Masterpiece

 
Dev's or anyone in the know please make me aware of any inaccuracies

 


One fundamental mistake there, Highlighted and fixed in red!
Kevondo
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June 03, 2014, 12:19:52 AM
 #1464

ok i missed something obviously I thought we were in PoS therefore how are we mining VRC?

Still in its infancy, the crypto world we R traveresing is a cyber-conundrum. The vast majority of people can't get their head around How BTC works. Those immersed in it R pressing on into the unknown creating code that's nebulous to all but those with IT and coding chops.

Here's how I THINK! Vericoin is proceeding.

POW is over. There is no publicly, active, mining going. Nor will there be. 26 Million Vericoin have been created.

HOWEVER. POS or Staking creates/mines coins to pay the interest on coins being staked. So the Block chain is being added too by this action

Coins must be in Wallets to Stake. If U keep your wallet open it's good for the stability of the network and the coins "age/mature" and are awarded interest every 8 hours they remain in the wallet continuously. While staking, these coins cannot be spent/transferred. You can set a reserve in your wallet so you can ALWAYS have the number of coins that U may want to trade or spend available.

The accounting of Spendable, Available, and unconfirmed is tracked by the wallet.


If u open your wallet once a year U will receive the staking interest for all coins that have been in there for more than 8 hours. Then they will begin aging/maturing again. In the once a year scenario I believe (not sure) all the staked coins would then mature in 8 hours and pay interest

For always Open Wallets: As Coins start aging when they arrive in your wallet, every 8 hours they remain there "Staking"  they generate interest. All interest is compounded. It's virtually impossible to get all your vericoin to stake simultaneously.

The VeriCoin Multipool

All hash (scrypt or X11 only) pointed @ the MultiPool is managed by an algorithm which selects the most profitable coins to mine @ that time. The coins being mined are anonymous to everyone but the pool master. The spoils from mining will then be sold on the open market for BTC on the exchange offering the best price. The total resulting BTC will then be used to BUY Vericoin (again @ the best price) on the open market and then distributed to the share holders in the MultiPool.

Payouts will be made @ an interval to be decided but more than once a day.

All this will happen automatically once the algo for the Multipool is complete.

Can U C the intricacies of coding that this algo requires? This is why it takes time  and why we R lucky to have

The Best Development Team in Crypto

working tirelessly in the best interest of the Crypto Community to make this daunting piece of software known as Vericoin a true Masterpiece

 
Dev's or anyone in the know please make me aware of any inaccuracies

 


One fundamental mistake there, Highlighted and fixed in red!

 Embarrassed Angry Shocked Huh Embarrassed U R Correct. A truly Fundamental Error on my part. Thanks for your careful reading of the post. It had a major BUG in it and I didn't even know. Thanks again

and I added an additional bit in Green for Clarity

.

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Lovethecoins
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June 03, 2014, 06:26:07 AM
 #1465

Remember to vote vote vote.... we are already bringing me volume then most coins on mintpal anyways... should be added!!!

LordPiccolo
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June 03, 2014, 06:41:01 AM
 #1466

another payout from the multipool, thank you very much Smiley
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June 03, 2014, 07:32:09 AM
 #1467

Vericoin is cool alt name! The moment i saw it on bittrex i just make a buy instantly!
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June 03, 2014, 08:39:41 AM
 #1468

multipool is ready for use? am I right?
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June 03, 2014, 08:45:17 AM
 #1469

Vericoin is cool alt name! The moment i saw it on bittrex i just make a buy instantly!

you're right. but verycoin not only "cool name", first of all its a real working team and good community.
i hold my vericoins and know that 3000 sat its a minimum price even for now.
its not a time to sell. price is very very cheap for now..... and only bittrex ))) its not a good place for strong coins.
when we hit Mintpal the game will start with a new hi volume.
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June 03, 2014, 09:18:51 AM
 #1470

multipool is ready for use? am I right?

I have been getting payouts from somewhere lol, so I guess the multipool is working, although I Believe it is still in Alpha testing
parker928
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June 03, 2014, 11:02:03 AM
 #1471

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC, thats my biggest problem is the disconnect between mining and exchange by the time I mine enough for the min withdrawl limit, find the most profitable exchange, create an account on said exchange (if I dont already have one), wait for it to show up in my exchange, and then sell, the price has normally already gone down from when it was most profitable therefore.....this same option on a regular multipool would be amazing

you're trying to hard

you're not gonna make any money like that. change coins maybe once or twice a day for the most profit.
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June 03, 2014, 12:04:43 PM
 #1472

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC[...]

There are already a number of generic multipools that pay in BTC; hashco.ws is one that comes immediately to mind, but I know that there are others. If all you're looking to do is cash out at the end of each day, those pools would likely be better suited to your needs.

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June 03, 2014, 12:48:30 PM
 #1473

multipool is ready for use? am I right?

I have been getting payouts from somewhere lol, so I guess the multipool is working, although I Believe it is still in Alpha testing

LP is correct. It's in Alpha Testing still, which means it is up and running, but there r bugs, adjustments, and tweaks being made. Basically the Dev's R actively monitoring the Pool as it runs and might shut it down to make an adjustment and then fire it up again'.

So if U R checkin' the pool out it might act hinky but it's the Dev's workin' on it.

They will not come out of Alpha until everything is working perfectly. That doesn't mean that all the intended features will be available but that it will Handle High Hash rates, switch to most profitable coin for mining, sell the mining spoils for BTC @ the best rate,  Buy Vericoin like wise, and then payout. All Automatically.

The payout module is currently the big Bug-a-Boo holding up the general release.

The payouts being received now all have to be done MANUALLY. This takes time which could be better utilized.

The Dev's will not come out of Alpha until the Auto-Payout is stable. Manual payments R being made to show good faith and get some return to those aiming hash @ the pool during this phase.

It will be more efficient/ profitable when released and exposed to the the rigors of the marketplace. 

.

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pnosker
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June 03, 2014, 01:03:23 PM
 #1474

multipool is ready for use? am I right?

I have been getting payouts from somewhere lol, so I guess the multipool is working, although I Believe it is still in Alpha testing

LP is correct. It's in Alpha Testing still, which means it is up and running, but there r bugs, adjustments, and tweaks being made. Basically the Dev's R actively monitoring the Pool as it runs and might shut it down to make an adjustment and then fire it up again'.

So if U R checkin' the pool out it might act hinky but it's the Dev's workin' on it.

They will not come out of Alpha until everything is working perfectly. That doesn't mean that all the intended features will be available but that it will Handle High Hash rates, switch to most profitable coin for mining, sell the mining spoils for BTC @ the best rate,  Buy Vericoin like wise, and then payout. All Automatically.

The payout module is currently the big Bug-a-Boo holding up the general release.

The payouts being received now all have to be done MANUALLY. This takes time which could be better utilized.

The Dev's will not come out of Alpha until the Auto-Payout is stable. Manual payments R being made to show good faith and get some return to those aiming hash @ the pool during this phase.

It will be more efficient/ profitable when released and exposed to the the rigors of the marketplace. 

Very well said. Please don't throw your hash at the pool unless you are 100% ok with potential issues. Things *should* be working though, and profitability for my miner has been above every other multipool for the past week... so if you would like to help the VRC community and us out by load testing the stratum and our payouts, please feel free to mine at the pool. Just know that things might not work perfectly.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
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June 03, 2014, 07:11:39 PM
 #1475

The pool is working very well so far. I honestly wasn't even expecting payments since it's still in the alpha stages, so the VRC received from the pool is pure gravy! Cheesy

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June 03, 2014, 08:04:48 PM
 #1476

What about Craptsys? This is still active, but no market: https://www.cryptsy.com/currencies/view/159

It's a chance they can add it today, with vote winners.
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June 03, 2014, 08:12:14 PM
 #1477

What about Craptsys? This is still active, but no market: https://www.cryptsy.com/currencies/view/159

It's a chance they can add it today, with vote winners.

I can't see any voting option for vrc?
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June 03, 2014, 08:23:58 PM
 #1478

What about Craptsys? This is still active, but no market: https://www.cryptsy.com/currencies/view/159

It's a chance they can add it today, with vote winners.

I can't see any voting option for vrc?

You don't need to vote, they wanted to add on Cryptsy with XLB an NAUT but wallet problems delayed.

Dev should know more, what's the status with Cryptsy.
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June 03, 2014, 09:37:09 PM
 #1479

I'm not too worried but craptsy hope we get there but we will continue to build and vote on mintpal and eventually they will join... This coin is greatly undervalued... I paid almost double this price for most of mine and it was still undervalued then!!!

Hold strong people if you are selling you will be kicking your own ass in a while here these guys are working hard!!!!

PS awesome job staking everyone should get out there n make one post about this coin on twitter seeing the same names... u want it to grow do your part Smiley

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June 03, 2014, 10:46:54 PM
 #1480

To those who have not noticed, Coin Control was silently slipped into one of the most recent wallet builds; it's currently fully functional. Coin Control allows the user to choose which existing wallet address to send coins FROM (instead of allowing the wallet to pick a random one).

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