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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1346476 times)
Xosihc
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August 29, 2014, 12:55:27 PM
 #14601

Which one is the better investment Crypti or Vericoin? I like both coins, but the Crypti community predicts skyrocketing Crypti performance and stagnation for vericoin. What you guys think about vericoin price for the next 2-3 months? Would you invest 10 BTC in vericoin right now or better to wait for the floor?

Just my 2 cents on the situation [...]


Very nice overview!

Thanks Zsp for the reply!

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August 29, 2014, 12:56:59 PM
 #14602

....

English is not even my third language, so I apologize in advance for all confusions in my post  :-))

Most probably I hold more coins than the vocal supporters combined have, for that reason I follow this coin closely, and therefore I can give you an objective :-)) overview about the state of VeriCoin.

Hundreds of investors read the CV of the developers a few months ago. The CVs indicate the developers are capable software professionals with fairly impressive academic background. We liked the transparency theme and such transparency was a really unique feature in the altcoin market at the time. Everyone thought the bright, capable, honest, young developers will pull off this project. It seemed the only option is a success and if any coins can succeed that will be vericoin. So what happened in the summer? Well, the biggest failure of the altcoin market in this summer is VeriCoin. The price is 9k, the order book is a pathetic 5.5 BTC and the volume is 20 BTC that puts VeriCoin at the second page of Bittrex. The reasons of this spectacular failure are

a) The developers don't work on the software. The general expectations were that the vericoin devs are responsible and reasonable professionals and they will put the hard work into the project, the professional pride will drive them to deliver. The reality is that they don't deliver. That's why it hasn't been released anything in the last 10 weeks. (the meaningless road map that is full of bollocks doesn't count as delivery)

b) The developers are not in the league of serious crypto currency professionals like Peter Todd, Gavin Wood or btcdrak to just mention a few. This summer made clear that in order to succeed in the altcoin market the developers need to posses more skills than the ability of forking Sunny King codes and add a few useless functions like VeriBit, VeriSend and VeriSMS.

c) There is no clear strategy for the development of the coin. Lame ideas like the VISA card take precedence over sensible suggestions and again, no real progress in any areas.

Of course the devs can change the situation of "a", "b" and "c" easily, even "b" is changeable as we don't talk about rocket science here but software development, they can study the code base of other solution and build on that new features for vericoin.

As the current situation is a complete failure, I strongly suggest do not invest your 10 BTC in vericoin. Your 10 BTC investment will push the price up with 5k, it will make ecstatic the hardcore cheerleaders, they will perform the usual rituals and dances for the cult leaders, socal will write his usual hosannas about the coming 100k price. However, the fundamentals of the project will remain the same and 2 weeks time the price will be even lower than it is today.
I suggest you wait, let the developers start working and deliver (anything would be great really) and then if you notice any improvements then you invest the 10 BTC in vericoin.

Good luck and let us know if you need more info :-)))




I agree with some of your points. Ever since the Mintpal hack, there has been a major downward trend.

I wouldn't call VeriSend useless, some users want anonymity. Likewise VeriBit makes it easy to spend on anything wherever BTC is accepted.

I would not tell someone not to invest, but rather invest an amount you are comfortable with. The potential for this coin is huge. In the sea of scam coins, having transparent devs was one of the reason i invested.

As of late there is talk of adding a talented 4th dev. I hope we can hear something soon as this coin needs an adrenaline shot in the arm.


Having transparent devs was the only reason I have invested and I fully agree the potential for this coin is huge - if the developers start the work and delivering. Everyone thought the transparency will be enough to succeed - unfortunately it is not enough. The only option to succeed is if the devs fulfil their promises of developing the coin.
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August 29, 2014, 01:04:20 PM
 #14603

One final update in regards to tomorrow. As many of you may know I will be hosting a Vericoin booth at the Minnesota State Fair to help raise awareness of both Vericoin and digital currencies as a whole. We have tried to be flexible in regards to the time slot we have our space. Originally we had the space from 11am-4pm. Then I got a phone call asking if we could please move to the 4pm-9pm spot. Although we agreed to moving I did put a request in that if it would ever be possible we would prefer having our original time slot (11am-4pm). So I did just get a call last night saying they did some last minute rearranging and we are now back on for our 11am-4pm time slot.

tldr; we have our Vericoin booth tomorrow, Saturday August 30th from 11am-4pm CST.

This will be my last request for anyone that would be willing to donate VRC to be passed out to please use the wallet address in my signature. 100% of the funds donated will be handed out tomorrow during the event. Every coin helps! Even if you can spare 25-50 VRC.

Thank you everyone for the support. On a final note - it's raining all day today, suppose to rain all day Sunday - and Saturday is suppose to be a beautiful day! Everything seems to be going out way Wink
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August 29, 2014, 01:12:25 PM
 #14604

One final update in regards to tomorrow. As many of you may know I will be hosting a Vericoin booth at the Minnesota State Fair to help raise awareness of both Vericoin and digital currencies as a whole. We have tried to be flexible in regards to the time slot we have our space. Originally we had the space from 11am-4pm. Then I got a phone call asking if we could please move to the 4pm-9pm spot. Although we agreed to moving I did put a request in that if it would ever be possible we would prefer having our original time slot (11am-4pm). So I did just get a call last night saying they did some last minute rearranging and we are now back on for our 11am-4pm time slot.

tldr; we have our Vericoin booth tomorrow, Saturday August 30th from 11am-4pm CST.

This will be my last request for anyone that would be willing to donate VRC to be passed out to please use the wallet address in my signature. 100% of the funds donated will be handed out tomorrow during the event. Every coin helps! Even if you can spare 25-50 VRC.

Thank you everyone for the support. On a final note - it's raining all day today, suppose to rain all day Sunday - and Saturday is suppose to be a beautiful day! Everything seems to be going out way Wink

That's exciting, Xosihc.  I sent you another 250.  Good luck tomorrow!

Liquid Tech, Asset #17750387231635486778, http://www.liquidtech.info
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August 29, 2014, 01:14:22 PM
 #14605

One final update in regards to tomorrow. As many of you may know I will be hosting a Vericoin booth at the Minnesota State Fair to help raise awareness of both Vericoin and digital currencies as a whole. We have tried to be flexible in regards to the time slot we have our space. Originally we had the space from 11am-4pm. Then I got a phone call asking if we could please move to the 4pm-9pm spot. Although we agreed to moving I did put a request in that if it would ever be possible we would prefer having our original time slot (11am-4pm). So I did just get a call last night saying they did some last minute rearranging and we are now back on for our 11am-4pm time slot.

tldr; we have our Vericoin booth tomorrow, Saturday August 30th from 11am-4pm CST.

This will be my last request for anyone that would be willing to donate VRC to be passed out to please use the wallet address in my signature. 100% of the funds donated will be handed out tomorrow during the event. Every coin helps! Even if you can spare 25-50 VRC.

Thank you everyone for the support. On a final note - it's raining all day today, suppose to rain all day Sunday - and Saturday is suppose to be a beautiful day! Everything seems to be going out way Wink

Nice, I meant to ask about the weather. Thanks for the update, and best of luck to you and your team.  Let it rain VRC Saturday. Wink

Sending my latest veripool payment your way...  (it was a nice one)

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
KryptoKings
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August 29, 2014, 01:31:36 PM
 #14606

One final update in regards to tomorrow. As many of you may know I will be hosting a Vericoin booth at the Minnesota State Fair to help raise awareness of both Vericoin and digital currencies as a whole. We have tried to be flexible in regards to the time slot we have our space. Originally we had the space from 11am-4pm. Then I got a phone call asking if we could please move to the 4pm-9pm spot. Although we agreed to moving I did put a request in that if it would ever be possible we would prefer having our original time slot (11am-4pm). So I did just get a call last night saying they did some last minute rearranging and we are now back on for our 11am-4pm time slot.

tldr; we have our Vericoin booth tomorrow, Saturday August 30th from 11am-4pm CST.

This will be my last request for anyone that would be willing to donate VRC to be passed out to please use the wallet address in my signature. 100% of the funds donated will be handed out tomorrow during the event. Every coin helps! Even if you can spare 25-50 VRC.

Thank you everyone for the support. On a final note - it's raining all day today, suppose to rain all day Sunday - and Saturday is suppose to be a beautiful day! Everything seems to be going out way Wink

I sent you over a small amount now (50). Will send you something bigger when I get out of work tonight. Thx.

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August 29, 2014, 01:49:33 PM
 #14607

www.VRCRadio.com  LIVE in 10 Minutes

CINNI will LIVE
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August 29, 2014, 03:03:48 PM
 #14608

120 000 and more in one big drop at Mint to very low 8361
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August 29, 2014, 03:04:09 PM
 #14609

Many thanks to those who recently sent in some more VRC for the fair tomorrow! This wouldn't be possible without the awesome support of the community!!
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August 29, 2014, 03:31:26 PM
 #14610

5 hours to distribute the VRC.

lets say you get 12k, give or take. That is 2.4k / hour to give away, or roughly, 400 per 10 minutes.

You will find people have differentiating levels of interest, but you may need more time helping people with a wallet set up. so I would say 10 minutes a person, who you will be giving money to might be a bit optimistic.

Now, you multiply the amount of time by x amount of people you have working at the booth in this scenario.

Say you have 2x,3x people working. then you would have 20/30 minutes to give away 400 VRC per person. Most people will come in groups, and you will be able to get away with using the same time for multiple VRC gifts. Try to find the best balance throughout the day, see how long its taking you to help each person and use the math to create the best possible use of the funds, without over / under allocating them. Every person won't be ready to accept free VRC either. So if you can, make some paper wallets to give out some coins to those who use desktops or IOS.

I think VRC is in good hands! So keep up the good work. I just wanted to toss in some math to think about to help get the best result. I think you need to give away 400 each if possible, that is 20 USD, and it will hit a cord with people, any less they might think its not worth it.

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August 29, 2014, 03:43:10 PM
 #14611

5 hours to distribute the VRC.

lets say you get 12k, give or take. That is 2.4k / hour to give away, or roughly, 400 per 10 minutes.

You will find people have differentiating levels of interest, but you may need more time helping people with a wallet set up. so I would say 10 minutes a person, who you will be giving money to might be a bit optimistic.

Now, you multiply the amount of time by x amount of people you have working at the booth in this scenario.

Say you have 2x,3x people working. then you would have 20/30 minutes to give away 400 VRC per person. Most people will come in groups, and you will be able to get away with using the same time for multiple VRC gifts. Try to find the best balance throughout the day, see how long its taking you to help each person and use the math to create the best possible use of the funds, without over / under allocating them. Every person won't be ready to accept free VRC either. So if you can, make some paper wallets to give out some coins to those who use desktops or IOS.

I think VRC is in good hands! So keep up the good work. I just wanted to toss in some math to think about to help get the best result. I think you need to give away 400 each if possible, that is 20 USD, and it will hit a cord with people, any less they might think its not worth it.

Umm.. I have to agree with him $20 does hit a cord with people. I would be willing to give most people gladly 10 min my time for $20. The can easily go buy that new dvd burner they have needed for so long from newegg.

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August 29, 2014, 03:45:31 PM
 #14612

5 hours to distribute the VRC.

lets say you get 12k, give or take. That is 2.4k / hour to give away, or roughly, 400 per 10 minutes.

You will find people have differentiating levels of interest, but you may need more time helping people with a wallet set up. so I would say 10 minutes a person, who you will be giving money to might be a bit optimistic.

Now, you multiply the amount of time by x amount of people you have working at the booth in this scenario.

Say you have 2x,3x people working. then you would have 20/30 minutes to give away 400 VRC per person. Most people will come in groups, and you will be able to get away with using the same time for multiple VRC gifts. Try to find the best balance throughout the day, see how long its taking you to help each person and use the math to create the best possible use of the funds, without over / under allocating them. Every person won't be ready to accept free VRC either. So if you can, make some paper wallets to give out some coins to those who use desktops or IOS.

I think VRC is in good hands! So keep up the good work. I just wanted to toss in some math to think about to help get the best result. I think you need to give away 400 each if possible, that is 20 USD, and it will hit a cord with people, any less they might think its not worth it.

I think only giving out to 30 people would be a waste. Target as many people as possible and hope we stoke some interest amongst them. If we gave out to X amount of people what will the follow up rate be, I reckon about 1-2%. But its anyone's guess.

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August 29, 2014, 04:07:43 PM
 #14613

5 hours to distribute the VRC.

lets say you get 12k, give or take. That is 2.4k / hour to give away, or roughly, 400 per 10 minutes.

You will find people have differentiating levels of interest, but you may need more time helping people with a wallet set up. so I would say 10 minutes a person, who you will be giving money to might be a bit optimistic.

Now, you multiply the amount of time by x amount of people you have working at the booth in this scenario.

Say you have 2x,3x people working. then you would have 20/30 minutes to give away 400 VRC per person. Most people will come in groups, and you will be able to get away with using the same time for multiple VRC gifts. Try to find the best balance throughout the day, see how long its taking you to help each person and use the math to create the best possible use of the funds, without over / under allocating them. Every person won't be ready to accept free VRC either. So if you can, make some paper wallets to give out some coins to those who use desktops or IOS.

I think VRC is in good hands! So keep up the good work. I just wanted to toss in some math to think about to help get the best result. I think you need to give away 400 each if possible, that is 20 USD, and it will hit a cord with people, any less they might think its not worth it.

Probably the biggest discussion we have had on our end is how much VRC do we give away to each person? One thing we are doing is having an "Enter to Win" drawing where we will be giving out $25 worth of VRC every hour to anyone who enters their e-mail into a fish bowl. This will allow for us to collect at the least an e-mail address to follow-up with individuals who visit our booth. That alone will eat up roughly 3k VRC at current prices. Outside of that we were thinking to give somewhere between $1-$5 to anyone else who is interested in downloading the wallet.

If we did $1 per person (roughly 25 VRC) that would give us roughly 320 lots to hand out (assuming we have around 8,000 VRC remaining from the pool). Between my friend and I that would give us 2 minutes per person over the course of 5 hours. If we go the route of $5 per person then we are talking about ~60 engagements throughout the day. This would allow for a more quality conversation almost 5-10 minutes per person. As of now we are leaning towards the $1/person + $25 Enter to wins.

We also want to take into consideration people who don't have android phones that are interested in getting some VRC. While paper wallets would get the job done for that - we are afraid they will just end up in the trash on the way out the door. So for that - our plan is to collect some basic information and follow-up with them after the fact. So for that reason too - we are thinking about putting some VRC aside for those folks.
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August 29, 2014, 04:08:37 PM
 #14614

....

I agree with some of your points. Ever since the Mintpal hack, there has been a major downward trend.

I wouldn't call VeriSend useless, some users want anonymity. Likewise VeriBit makes it easy to spend on anything wherever BTC is accepted.

I would not tell someone not to invest, but rather invest an amount you are comfortable with. The potential for this coin is huge. In the sea of scam coins, having transparent devs was one of the reason i invested.

As of late there is talk of adding a talented 4th dev. I hope we can hear something soon as this coin needs an adrenaline shot in the arm.


Having transparent devs was the only reason I have invested and I fully agree the potential for this coin is huge - if the developers start the work and delivering. Everyone thought the transparency will be enough to succeed - unfortunately it is not enough. The only option to succeed is if the devs fulfil their promises of developing the coin.


AltcoinUk and Barabbas make a lot of sense too.. if we can all be objective. That's intelligence. What i dont agree is the delivery esp Barabbas. You can both be intelligent and respectful
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August 29, 2014, 04:30:26 PM
 #14615

....

I agree with some of your points. Ever since the Mintpal hack, there has been a major downward trend.

I wouldn't call VeriSend useless, some users want anonymity. Likewise VeriBit makes it easy to spend on anything wherever BTC is accepted.

I would not tell someone not to invest, but rather invest an amount you are comfortable with. The potential for this coin is huge. In the sea of scam coins, having transparent devs was one of the reason i invested.

As of late there is talk of adding a talented 4th dev. I hope we can hear something soon as this coin needs an adrenaline shot in the arm.


Having transparent devs was the only reason I have invested and I fully agree the potential for this coin is huge - if the developers start the work and delivering. Everyone thought the transparency will be enough to succeed - unfortunately it is not enough. The only option to succeed is if the devs fulfil their promises of developing the coin.


AltcoinUk and Barabbas make a lot of sense too.. if we can all be objective. That's intelligence. What i dont agree is the delivery esp Barabbas. You can both be intelligent and respectful

I couldn't agree more about what I say make a lot of sense :-)))
Seriously, thanks for being civil and reasonable, your constructive post it's really refreshing in the middle of continues moaning of over-sensitive prima donnas who can't accept constructive criticism. We have different view on how this coin could succeed, but we could still have civilized conversation.
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August 29, 2014, 04:38:34 PM
 #14616


As of now we are leaning towards the $1/person + $25 Enter to wins.


I thought that event will be in the US, has the location changed to Malawi or Burundi? I mean if the capita per GDP is $300 like in those African countries then the $1 give away could be a very attractive deal for the poor buggers (no disrespect and God bless them it's not their fault their country is fucked-up), but in your place in the US to bother peoples with $1 gifts won't be rather counterproductive?

EDIT:
If here in Europe someone would stop me with a $1 deal that come with a 10 minutes explanation I would be wondering what kind of operation it is. I mean, would you really download an application for $1?
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August 29, 2014, 04:46:46 PM
 #14617


As of now we are leaning towards the $1/person + $25 Enter to wins.


I thought that event will be in the US, has the location changed to Malawi or Burundi? I mean if the capita per GDP is $300 like in those African countries then the $1 give away could be a very attractive deal for the poor buggers (no disrespect and God bless them it's not their fault their country is fucked-up), but in your place in the US to bother peoples with $1 gifts won't be rather counterproductive?

EDIT:
If here in Europe someone would stop me with a $1 deals and 10 minutes explanations I would wondering what kind of operation it is. I mean, would you really download an application for $1?

Well... the purpose wasn't so much to actually give them enough money that they can go buy something valuable - more so, so they can feel the experience of using digital currencies. Please keep in mind we are working with a limited budget. As much as I would love to hand everyone that walks by $25 we have a total of just under 12,000 VRC to be handed out. At current prices that's about $500 in USD.

If you would like to donate $5,000 worth of VRC to the cause I'd be more than happy to give each person that walks by $100 Wink

Edit: And trust me - I do marketing events like these for a living. You'd be surprised what people would do for a free hand out. Even if it's a pencil, $1, a free sticker. People do love free stuff. Again the more important thing to keep in mind is the fact we want people to #1 feel the experience of using digital currencies and #2 spark enough interest in the story that they want to go home and read more about it. This is not about handing out real cash to let people go out and buy things with it. That's not the purpose of the day.

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August 29, 2014, 05:00:00 PM
 #14618


As of now we are leaning towards the $1/person + $25 Enter to wins.


I thought that event will be in the US, has the location changed to Malawi or Burundi? I mean if the capita per GDP is $300 like in those African countries then the $1 give away could be a very attractive deal for the poor buggers (no disrespect and God bless them it's not their fault their country is fucked-up), but in your place in the US to bother peoples with $1 gifts won't be rather counterproductive?

EDIT:
If here in Europe someone would stop me with a $1 deals and 10 minutes explanations I would wondering what kind of operation it is. I mean, would you really download an application for $1?

Well... the purpose wasn't so much to actually give them enough money that they can go buy something valuable - more so, so they can feel the experience of using digital currencies. Please keep in mind we are working with a limited budget. As much as I would love to hand everyone that walks by $25 we have a total of just under 12,000 VRC to be handed out. At current prices that about $500 in USD.

If you would like to donate $5,000 worth of VRC to the cause I'd be more than happy to give each person that walks by $100 Wink


I understand the constraints of the operation, I was not trolling and was seriously worried that in your place in Minnesota people will be pissed off from the $1 gift. But you know marketing, especially you know what works at your place, so if you say so I am sure everything will be fine.

I am ready to donate 100k VRC in the next 5 minutes to support any ideas that take this coin to the next level :-)) and I said to you I have nothing but respect for your hard work, but this event unfortunatelly will not change anything for vericoin, except that you feel very well that you have done something and probably that makes worthwhile the whole thing. So I am keep waiting for the opportunity to show my support. :-)))
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August 29, 2014, 05:04:05 PM
 #14619


As of now we are leaning towards the $1/person + $25 Enter to wins.


You'd be surprised what people would do for a free hand out. Even if it's a pencil, $1, a free sticker. People do love free stuff. Again the more important thing to keep in mind is the fact we want people to #1 feel the experience of using digital currencies and #2 spark enough interest in the story that they want to go home and read more about it.


I have to admit I know very little about marketing, generally I am very sceptical about the effectiveness of certain marketing methods like the free give away, but I take your word that it could be very effective. If it works out I will donate after :-))
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August 29, 2014, 05:14:34 PM
 #14620


As of now we are leaning towards the $1/person + $25 Enter to wins.


I thought that event will be in the US, has the location changed to Malawi or Burundi? I mean if the capita per GDP is $300 like in those African countries then the $1 give away could be a very attractive deal for the poor buggers (no disrespect and God bless them it's not their fault their country is fucked-up), but in your place in the US to bother peoples with $1 gifts won't be rather counterproductive?

EDIT:
If here in Europe someone would stop me with a $1 deals and 10 minutes explanations I would wondering what kind of operation it is. I mean, would you really download an application for $1?

Well... the purpose wasn't so much to actually give them enough money that they can go buy something valuable - more so, so they can feel the experience of using digital currencies. Please keep in mind we are working with a limited budget. As much as I would love to hand everyone that walks by $25 we have a total of just under 12,000 VRC to be handed out. At current prices that's about $500 in USD.

If you would like to donate $5,000 worth of VRC to the cause I'd be more than happy to give each person that walks by $100 Wink

Edit: And trust me - I do marketing events like these for a living. You'd be surprised what people would do for a free hand out. Even if it's a pencil, $1, a free sticker. People do love free stuff. Again the more important thing to keep in mind is the fact we want people to #1 feel the experience of using digital currencies and #2 spark enough interest in the story that they want to go home and read more about it. This is not about handing out real cash to let people go out and buy things with it. That's not the purpose of the day.



It depends on the people. I'd make a minimum of 5 bucks, and plan to have less people want to get the wallet. People don't know what bitcoin is, so by the time you get explaining to them what a crypto currency is, and how to obtain a wallet ect, you will end up having much less time per person than you plan. A lot of people will come by to talk to you, or look from afar, without any intention of getting free coin, go engage these people on the fence, who may not have a phone. Likely the people who will benefit from this may not even have a smartphone.

I am 31, I don't have a smartphone. If you came up to me, and your pitch was giving me something free on my phone, I would walk by you. So, you have to use the giveaway as 1 tool in your arsenal. 500-600 dollars in giveaways may not be worth the entire 5 hours time slot. Economically if we where a business and had as large an investment in the booth as we did, we would have to beef up the advertising budget significantly to make the numbers work. You MUST use that time better. To spend 5-20 bucks a person when giving them money to lock them in, I think is a good way to do it.

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