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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1341921 times)
popolite11
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August 31, 2014, 03:22:44 PM
 #14681


Blah, blah, blah. That also explains why the price is 8.1k.

Yeah, you tell 'em!  I think that they're responsible for Litecoin dropping 37% in the last month, too!   

Those jerks!  Tongue

Litecoin is dropping partly because people who made investments into scrypt mining equipment are looking to return some of that investment in the form of BTC, and FIAT.

LTC is getting dumped by all the miners who bought expensive ASICS .

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August 31, 2014, 03:44:01 PM
 #14682

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?
I like the direction of the coin. I bought 6 btc when it was around 25k once I really looked at the coin. I have slowly been buying since. The devs transparency and honesty helps the coin in the long run but also hurt the coin in the short run. Like warr1979 said it was gearing up for a good hard run but Mintpal.....

The thing about crypto is time moves different. A week is like a month. A month is like 3-4 months. Good things will happen and the Mintpal crap will be forgotten soon. Another thing about crypto is what doesn't kill a coin only makes it stronger. Enough believe in the coin to keep it strong. I am sure the devs are in it for the long haul. Keep a coin strong and fresh and like a tree it will grow.

I am not telling you to invest. I don't give investment advice. I pushed the buy button and I life with the consequences whether good or bad. I either blame myself or pat myself in the back.

Thank you for your post. It was very useful.
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August 31, 2014, 03:45:06 PM
 #14683

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...

1st - From a technical point of view the current support ("bottom" if you will) is around 6500 stat. That was the previous low before any recent pumps (in late June or early July... whenever that was). So if you want to wait for the low perhaps you can test to see whether it can touch 6500 or even break it. If it breaks 6500 then it will be a true free for all (in my opinion) on how low we can go. So if you agree on that take we are fairly close to the bottom. It might be worth entering a position now, adding some orders lower and then seeing where it can go from there.

2nd take - since we've been in a down trend for quite some time and have had a difficult time breaking what used to be 20k, now 15k - you can wait and put a mental stop order at 15k and wait to see if we ever do break it. You won't time the bottom this way, but by doing this you will protect yourself from buying on a downtrend aka trying to catch a falling knife.

3rd take - what I would suggest: do a dollar cost average and just say I'm going to buy 1 (or 2) BTC worth of Vericoin every week for the next 5-10 weeks. No you won't time the bottom this way but it's a more conservative way to enter in a position. You'll catch some highs and some lows within the greater trend. If you are really confident in holding the position you might as well enter in slowly but surely.

Now whether or not to buy Vericoin vs. Crypti? Well I don't know enough about Crypti to provide any advice on it. Personally I would suggest diversifying your holdings so it would probably be best to buy a little of both, over time - if you believe in the projects.

Best of luck!

Thank you for taking the time and answering. Your post was really helpful.
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August 31, 2014, 03:57:07 PM
 #14684

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?
I like the direction of the coin. I bought 6 btc when it was around 25k once I really looked at the coin. I have slowly been buying since. The devs transparency and honesty helps the coin in the long run but also hurt the coin in the short run. Like warr1979 said it was gearing up for a good hard run but Mintpal.....

The thing about crypto is time moves different. A week is like a month. A month is like 3-4 months. Good things will happen and the Mintpal crap will be forgotten soon. Another thing about crypto is what doesn't kill a coin only makes it stronger. Enough believe in the coin to keep it strong. I am sure the devs are in it for the long haul. Keep a coin strong and fresh and like a tree it will grow.

I am not telling you to invest. I don't give investment advice. I pushed the buy button and I life with the consequences whether good or bad. I either blame myself or pat myself in the back.

I don't think you are saying what warr1979 is saying (not that it would make much of a difference because both things are exercises in absurdity, but just to clarify things). If I have understood correctly -and I know I have- he blames the Mintpal "affair" for having DELAYED the otherwise plentiful slew and magnificent releases by our dynamic dev team...

You, on the other hand, seem to point to the MP "affair" as the cause of the derailment IN PRICE of the coin, that was "gearing up for a good hard run..." instead. Just to make things perfectly clear, when VRC stopped trading because of the "affair", it was in the 37k level, having been recently above 43k and just days before touching 58k. When trading resumed, VRC traded for quite a few days in the 34-32 region. Subsequently, a very, very, very slow downside spiral started, without any rebound. In no way, shape or form it can be made related to the MP "affair". As a matter of fact, the fall from the low 30s mirrored that of many other similar coins, particularly BlackCoin -that still mirrors in price behavior- and NAUT.

So very wrong on both counts. The MintPal "affair" did not delay anything at all, not even the vacations of the dev team, and in no way was, even remotely, the cause of the monumental sell-off.

Just keeping the record straight.

You can like "the direction the coin is going" just like you may like the color purple. You are just another bagholder who tries to convince himself it's oke to remain invested in it, but this coin is going in NO DIRECTION WHATSOEVER, none atm.

And hasn't been since launch, by the way.

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?

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 solutions 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 veri[Suspicious link removed]d luck and let us know if you need more info :-)))


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Thanks for the posts and taking the time answering. I am concerned about the low volume. The lack of progress is also a concern. My 10 BTC investment won't improve the progress and volume in long term. I will wait for the optimal entry time and good luck for the vericoin community.
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August 31, 2014, 04:09:42 PM
 #14685

Putting all speculation aside, the vast majority of digital currencies have dropped significantly within the last couple of months and it has more to do with the summer doldrums than anything else.  Yeah, most miners are still trying to recoup their capital expenditures on overly priced mining equipment and that's exerting downward pressure on a thinly traded market but the fact of the matter is that it's summertime and in typical summer fashion, most traders are out enjoying family vacations instead of trading.  I'm sure we could all blame it on the devs, though.  Perhaps if they had planned ahead they could have implemented some sort of algorithm that rewards people with a much higher interest rate when they're staking while at the beach or something of that nature but rather than play the blame game, I'm using this as an opportunity to back up the truck and/or load the boat with some incredibly cheap digital coins.

VRC Tip Jar: VERiTAS2MPYM94kTwtni3GvnwdmWXqJsQf
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August 31, 2014, 04:27:28 PM
 #14686

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...

1st - From a technical point of view the current support ("bottom" if you will) is around 6500 stat. That was the previous low before any recent pumps (in late June or early July... whenever that was). So if you want to wait for the low perhaps you can test to see whether it can touch 6500 or even break it. If it breaks 6500 then it will be a true free for all (in my opinion) on how low we can go. So if you agree on that take we are fairly close to the bottom. It might be worth entering a position now, adding some orders lower and then seeing where it can go from there.

2nd take - since we've been in a down trend for quite some time and have had a difficult time breaking what used to be 20k, now 15k - you can wait and put a mental stop order at 15k and wait to see if we ever do break it. You won't time the bottom this way, but by doing this you will protect yourself from buying on a downtrend aka trying to catch a falling knife.

3rd take - what I would suggest: do a dollar cost average and just say I'm going to buy 1 (or 2) BTC worth of Vericoin every week for the next 5-10 weeks. No you won't time the bottom this way but it's a more conservative way to enter in a position. You'll catch some highs and some lows within the greater trend. If you are really confident in holding the position you might as well enter in slowly but surely.

Now whether or not to buy Vericoin vs. Crypti? Well I don't know enough about Crypti to provide any advice on it. Personally I would suggest diversifying your holdings so it would probably be best to buy a little of both, over time - if you believe in the projects.

Best of luck!

Thank you for taking the time and answering. Your post was really helpful.

That was very well stated.  Personally, I tend to read the charts (technical analysis) while simultaneously engaging in fundamental and sentimental analysis.  Having said that, I chose to go with number three but with an emphasis on buying the dips in order to lower my dollar cost average even further.  It's my opinion that the overall market sentiment couldn't be much lower right now (it's about as bad or perhaps even worse than last summer, when BTC dropped from over $200 to $65) and the overall fundamentals are still solid so I buy BTC on the dips and then store enough of it on the exchanges to buy VRC when everyone else is selling it.  If I was disingenuous I would probably join barabass and AltcoinUK in their psychologically manipulative FUD campaign in order to further drive down the price to buy cheaper VeriCoins but I can't do that because I don't want that on my conscience.

VRC Tip Jar: VERiTAS2MPYM94kTwtni3GvnwdmWXqJsQf
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August 31, 2014, 04:35:28 PM
 #14687

Any updates regarding the usernames feature Doug? Will this feature allow people to send VRC to a username rather than them long intimidating addresses? I feel like this is one of the better features on the roadmap we have and the quicker we can use it the better.

Trade bitcoin futures contracts with high leverage SmileySmiley Click HereSmiley
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August 31, 2014, 05:03:38 PM
 #14688

Any updates regarding the usernames feature Doug? Will this feature allow people to send VRC to a username rather than them long intimidating addresses? I feel like this is one of the better features on the roadmap we have and the quicker we can have use it the better.

No, there's no update nor progress. Last time I asked him about the whitepapers the arrogant answer was that investors need to check the roadmap. Obviously, a 3-4 sentences long brief update about the status of the progress never mind what the intended blockchain 2 functionalities are is unreasonable request. (In the meantime EffectsToCause had time talk about the FUDders on IRC for hours but he could not find time for a civil update ... so that's how the devs operate)

The truth is that the vericoin devs haven't developed anything innovative, additionally they are against serious professionals like Peter Todd and Gavin Wood in the blockchain 2 race, so I guess they have realized better not to talk about development if nothing is there.
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August 31, 2014, 05:19:49 PM
 #14689

Putting all speculation aside, the vast majority of digital currencies have dropped significantly within the last couple of months and it has more to do with the summer doldrums than anything else.  Yeah, most miners are still trying to recoup their capital expenditures on overly priced mining equipment and that's exerting downward pressure on a thinly traded market but the fact of the matter is that it's summertime and in typical summer fashion, most traders are out enjoying family vacations instead of trading.  I'm sure we could all blame it on the devs, though.  Perhaps if they had planned ahead they could have implemented some sort of algorithm that rewards people with a much higher interest rate when they're staking while at the beach or something of that nature but rather than play the blame game, I'm using this as an opportunity to back up the truck and/or load the boat with some incredibly cheap digital coins.

Let's see the facts based on real market data instead of usual cheerleader mantra and hurrah talk. Since vericoin not even remotely connected to the market dynamics of Litecoin what you like referring to, let's see vericoin's performance against altcoins that are direct competitors such as CLOAK and VIACOIN. The market data indicate that all three currencies had their pumps and dumps, just like vericoin cloak and viacoin were pumped and dumped as well. Following the P&D vericoin is 9k at this moment in time while the price of CLOAK is 290% and VIA is 284% higher than vericoin. I understand you are a hardcore cheerleader but perhaps you could acknowledge that vericoin, cloak and viacoin delivered the above result this summer under the very same market conditions. Please note cloak and vericoin price was same end of June, and vericoin and viacoin price was same at the end of July.

So what kind of summer fashion, Litecoin and family vacations nonsense are you talking about?
 
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August 31, 2014, 05:30:57 PM
 #14690

Hi altcoinuk,

I sent you a pm, i hope you are reading and will answer it.

Greetings

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ELMER_FUD
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August 31, 2014, 06:43:42 PM
 #14691

Putting all speculation aside, the vast majority of digital currencies have dropped significantly within the last couple of months and it has more to do with the summer doldrums than anything else.  Yeah, most miners are still trying to recoup their capital expenditures on overly priced mining equipment and that's exerting downward pressure on a thinly traded market but the fact of the matter is that it's summertime and in typical summer fashion, most traders are out enjoying family vacations instead of trading.  I'm sure we could all blame it on the devs, though.  Perhaps if they had planned ahead they could have implemented some sort of algorithm that rewards people with a much higher interest rate when they're staking while at the beach or something of that nature but rather than play the blame game, I'm using this as an opportunity to back up the truck and/or load the boat with some incredibly cheap digital coins.

Let's see the facts based on real market data instead of usual cheerleader mantra and hurrah talk. Since vericoin not even remotely connected to the market dynamics of Litecoin what you like referring to, let's see vericoin's performance against altcoins that are direct competitors such as CLOAK and VIACOIN. The market data indicate that all three currencies had their pumps and dumps, just like vericoin cloak and viacoin were pumped and dumped as well. Following the P&D vericoin is 9k at this moment in time while the price of CLOAK is 290% and VIA is 284% higher than vericoin. I understand you are a hardcore cheerleader but perhaps you could acknowledge that vericoin, cloak and viacoin delivered the above result this summer under the very same market conditions. Please note cloak and vericoin price was same end of June, and vericoin and viacoin price was same at the end of July.

So what kind of summer fashion, Litecoin and family vacations nonsense are you talking about?
 

You might as well dispense with the logically fallacious emotional appeals and your negatively biased dysphemisms because I don't buy your BS for one minute.   You put on a great act and you might have some people fooled into thinking that you're a legitimate investor but you're obviously not intelligent enough to fool everybody here, including myself.  Also, I don't know where you're getting your information but the market data that I'm looking at (via Bitcoinwisdom) says that CLOAK is down almost 90% in the last month while VRC is only down 43%.  



In regards to my previous post, I was referring to Litecoin because it's the number one alt (with the largest market cap) and has served well as a barometer for the altcoin market in general.  If I wanted to exaggerate or use hyperbole as you often seem to do, I could easily have compared VRC to any number of alts in the marketplace which have experienced more dramatic drops in price (but I didn't because I'm neither an optimist nor a pessimist but rather, a realist).  

It seems that you don't really understand the cyclical workings of the marketplace and I don't feel like having to explain the basics to you (Investing 101) so I'll just leave you with a link:

http://beginnersinvest.about.com/od/beginnerscorner/qt/summerdoldrums.htm

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ELMER_FUD
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August 31, 2014, 07:06:18 PM
 #14692

I figured that I might as well share this.  I just had a good laugh when I saw that FUD was included in the 'Appeal to fear' Wikipedia entry:

http://en.wikipedia.org/wiki/Appeal_to_fear#Fear.2C_uncertainty_and_doubt

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ereborltc
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August 31, 2014, 07:47:12 PM
 #14693

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. :-)))

Hi, just passing by to read the drama, navigate through the amazing nonexistent improvements and developments of the coin and collect my 100k from altcoinUK challenge so I can add them to my already diminished holding bag.

The idea is simple and it can be resumed in one line:

Convince James (jl777) to include Vericoin in the superNET project.

VMEMgDLW1cXuYg9dVkG9t6Fh4psAYqyFKG

Pleasure to help, altcoinUK! Cheesy

Eth.



Thanks for the tip Eth, the offer has been upgraded and 200k on the way :-)))

As for the vericoin integration to superNet, since James has not released any substance about his idea (e.g. white paper, software document, source code) except high level buzz words such as there will be some services, I guess better to wait until we understand what superNET is.



first thing we agree on

+1
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August 31, 2014, 07:53:39 PM
 #14694

Hello VeriCoin community...

While all eyes are on the Minnesota State Fair and we wait to hear/see news of the event, please take the time to vote for VeriCoin's inclusion in the initial release of the Casheer.net app. Simply post a comment why you believe VeriCoin is a GREAT match for their app.  The final list of coins to be included will be released Monday, Sept. 1st.

You can vote here: http://forum.casheer.net/viewtopic.php?f=15&t=76

Registering on the forum is simple and takes just a few minutes.

Thanks for showing your support for VeriCoin, the virtual cash for the masses.



We made the list for the second round, BUT, lets see it we can get on the first round list of coins to be included in the Casheer.net app.  Vote here to support VeriCoin: http://forum.casheer.net/viewtopic.php?f=15&t=76

Today is the last day to vote.

Cheers...


Thanks for the heads-up!

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ereborltc
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August 31, 2014, 08:01:01 PM
 #14695

pretty sure you are the same ether from twitter who was making those mini logos for profile pics... veryverimillionair was it...something like that..either way couldn't care less.. was nice chatting with u ..good luck on wtv you do , sincerely i don't wish bad on no one ... ill resume my cheerleading Wink

Mh no... when I show my support to a coin I do it in a different way, meaningless cheerleading is not my style. Besides failing at listing what I asked you also prove to be a really bad detective.

Now you can go back to your cheerleading, man your bag must be even bigger than mine was, good luck with that.

PS: About sending me the clothes to make up for the losses... was it serious... or...? Plz PM catalog of last season leftovers, I don't want bankruptcy for anyone.

Eth.
Um.. yes 100% my bag is bigger than yours lololol...and continues to grow, remember that when vrc takes off;)

and yes I'm 100% serious about the clothes , when you receive them you'll realize who your talking too, so pm me your address Wink

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August 31, 2014, 08:14:58 PM
 #14696

Putting all speculation aside, the vast majority of digital currencies have dropped significantly within the last couple of months and it has more to do with the summer doldrums than anything else.  Yeah, most miners are still trying to recoup their capital expenditures on overly priced mining equipment and that's exerting downward pressure on a thinly traded market but the fact of the matter is that it's summertime and in typical summer fashion, most traders are out enjoying family vacations instead of trading.  I'm sure we could all blame it on the devs, though.  Perhaps if they had planned ahead they could have implemented some sort of algorithm that rewards people with a much higher interest rate when they're staking while at the beach or something of that nature but rather than play the blame game, I'm using this as an opportunity to back up the truck and/or load the boat with some incredibly cheap digital coins.

Let's see the facts based on real market data instead of usual cheerleader mantra and hurrah talk. Since vericoin not even remotely connected to the market dynamics of Litecoin what you like referring to, let's see vericoin's performance against altcoins that are direct competitors such as CLOAK and VIACOIN. The market data indicate that all three currencies had their pumps and dumps, just like vericoin cloak and viacoin were pumped and dumped as well. Following the P&D vericoin is 9k at this moment in time while the price of CLOAK is 290% and VIA is 284% higher than vericoin. I understand you are a hardcore cheerleader but perhaps you could acknowledge that vericoin, cloak and viacoin delivered the above result this summer under the very same market conditions. Please note cloak and vericoin price was same end of June, and vericoin and viacoin price was same at the end of July.

So what kind of summer fashion, Litecoin and family vacations nonsense are you talking about?
 

You might as well dispense with the logically fallacious emotional appeals and your negatively biased dysphemisms because I don't buy your BS for one minute.   You put on a great act and you might have some people fooled into thinking that you're a legitimate investor but you're obviously not intelligent enough to fool everybody here, including myself.  Also, I don't know where you're getting your information but the market data that I'm looking at (via Bitcoinwisdom) says that CLOAK is down almost 90% in the last month while VRC is only down 43%.  

In regards to my previous post, I was referring to Litecoin because it's the number one alt (with the largest market cap) and has served well as a barometer for the altcoin market in general.  If I wanted to exaggerate or use hyperbole as you often seem to do, I could easily have compared VRC to any number of alts in the marketplace which have experienced more dramatic drops in price (but I didn't because I'm not an optimist nor a pessimist but rather, a realist).  

It seems that you don't really understand the cyclical workings of the marketplace and I don't feel like having to explain the basics to you (Investing 101) so I'll just leave you with a link:

http://beginnersinvest.about.com/od/beginnerscorner/qt/summerdoldrums.htm

One of your problems is that you are worried about trading matters such as that beginner link, but prior trading you should have rational thinking and the basic ability to perform simple logical reasoning - which evidently none of them you have. Your premise of "the all time high coin price that is caused by a pump indicates genuine investor activity" is false, therefore your reasoning and conclusion is completely irrelevant in the context of a discussion about the performance of the three coins.

With a formal logic modus ponendo ponens I say this
The price caused by a pump is artificial and does not indicate genuine investor interest.
The vericoin, cloak and viacoin all time high prices were reached during pumps.
Therefore, the VRC, VIA and CLOAK pumped all time high prices are don't indicate genuine investor interest (and they are insufficient for proper performance analysis).

Using a high school level formal logic sequent notation (which you must be familiar with as from your erratic behaviour it seems you are still in high school) we can describe this as P -> Q, P ├ Q.

As I demonstrated with a simple formal logic formula, your 90% or 43% data is irrelevant in the context of comparing the three coins, though I accept you hardcore cheerleader guys like to use that data to present your hype making and in the meantime - as I demonstrated it - delusional arguments.

You need to adopt rational thinking and logical reasoning. In order to do that you need to use valid data. Since the pump ATH price is irrelevant (see above), we need to use the current market price. These are
VeriCoin price:     9,200 Sat
Cloak price:       29,754 Sat
ViaCoin price:    25,500 Sat

From this you can see that at this moment in time cloak and viacoin price is 323% and 277% higher respectively than vericion. In the meantime we established already, that cloak and viacoin price was identical to vericoin not long time ago. Clearly, cloak and viacoin outperform vericoin. As the vericoin devs don't deliver other coins outperform vericoin (i.e. the investment flows there).

So what are you celebrating here my good cheerleader friend :-))))

 
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August 31, 2014, 08:30:50 PM
 #14697

you're not taking into account coin supply and market cap, only coin value.
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August 31, 2014, 08:45:03 PM
 #14698

you're not taking into account coin supply and market cap, only coin value.

You are absolutely right, that should be taken into account as well. Since I am not a freaking economist and just having conversation with my good friend ELMER_FUD who seemingly obsessed with my posts, all I was trying to say that the ATH reached via a pump is not valid base for comparison.

Anyway, my opinion is that VeriCoin is not doing well on the market - see volume, price and order book. It would be great to see more volume, price and a healthier order book, but in order to achieve that the devs should start working on the coin. It's simple, I am not sure why the over-sensitive prima donna cheerleaders so unhappy about my constructive criticism.
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August 31, 2014, 08:47:52 PM
 #14699

In coming long post in about 20 minutes...
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August 31, 2014, 08:52:05 PM
 #14700

Putting all speculation aside, the vast majority of digital currencies have dropped significantly within the last couple of months and it has more to do with the summer doldrums than anything else.  Yeah, most miners are still trying to recoup their capital expenditures on overly priced mining equipment and that's exerting downward pressure on a thinly traded market but the fact of the matter is that it's summertime and in typical summer fashion, most traders are out enjoying family vacations instead of trading.  I'm sure we could all blame it on the devs, though.  Perhaps if they had planned ahead they could have implemented some sort of algorithm that rewards people with a much higher interest rate when they're staking while at the beach or something of that nature but rather than play the blame game, I'm using this as an opportunity to back up the truck and/or load the boat with some incredibly cheap digital coins.

Let's see the facts based on real market data instead of usual cheerleader mantra and hurrah talk. Since vericoin not even remotely connected to the market dynamics of Litecoin what you like referring to, let's see vericoin's performance against altcoins that are direct competitors such as CLOAK and VIACOIN. The market data indicate that all three currencies had their pumps and dumps, just like vericoin cloak and viacoin were pumped and dumped as well. Following the P&D vericoin is 9k at this moment in time while the price of CLOAK is 290% and VIA is 284% higher than vericoin. I understand you are a hardcore cheerleader but perhaps you could acknowledge that vericoin, cloak and viacoin delivered the above result this summer under the very same market conditions. Please note cloak and vericoin price was same end of June, and vericoin and viacoin price was same at the end of July.

So what kind of summer fashion, Litecoin and family vacations nonsense are you talking about?
 

You might as well dispense with the logically fallacious emotional appeals and your negatively biased dysphemisms because I don't buy your BS for one minute.   You put on a great act and you might have some people fooled into thinking that you're a legitimate investor but you're obviously not intelligent enough to fool everybody here, including myself.  Also, I don't know where you're getting your information but the market data that I'm looking at (via Bitcoinwisdom) says that CLOAK is down almost 90% in the last month while VRC is only down 43%.  

In regards to my previous post, I was referring to Litecoin because it's the number one alt (with the largest market cap) and has served well as a barometer for the altcoin market in general.  If I wanted to exaggerate or use hyperbole as you often seem to do, I could easily have compared VRC to any number of alts in the marketplace which have experienced more dramatic drops in price (but I didn't because I'm not an optimist nor a pessimist but rather, a realist).  

It seems that you don't really understand the cyclical workings of the marketplace and I don't feel like having to explain the basics to you (Investing 101) so I'll just leave you with a link:

http://beginnersinvest.about.com/od/beginnerscorner/qt/summerdoldrums.htm

One of your problems is that you are worried about trading matters such as that beginner link, but prior trading you should have rational thinking and the basic ability to perform simple logical reasoning - which evidently none of them you have. Your premise of "the all time high coin price that is caused by a pump indicates genuine investor activity" is false, therefore your reasoning and conclusion is completely irrelevant in the context of a discussion about the performance of the three coins.

With a formal logic modus ponendo ponens I say this
The price caused by a pump is artificial and does not indicate genuine investor interest.
The vericoin, cloak and viacoin all time high prices were reached during pumps.
Therefore, the pumped all time high prices are don't indicate genuine investor interest and they are insufficient for proper performance analysis.

Using a high school level formal logic sequent notation (which you must be familiar with as from your erratic behaviour it seems you are still in high school) we can describe this as P -> Q, P |- Q.

As I demonstrated with a simple formal logic formula, your 90% or 43% data is irrelevant in the context of comparing the three coins, though I accept you hardcore cheerleader guys like to use that data to present your hype making and in the meantime - as I demonstrated it - delusional arguments.

You need to adopt rational thinking and logical reasoning. In order to do that you need to use valid data. Since the pump ATH price is irrelevant (see above), we need to use the current market price. These are
VeriCoin price:     9,200 Sat
Cloak price:       29,754 Sat
ViaCoin price:    25,500 Sat

From this you can see that at this moment in time cloak and viacoin price is 323% and 277% higher respectively than vericion. In the meantime we established already, that cloak and viacoin price was identical to vericoin not long time ago. Clearly, cloak and viacoin outperform vericoin. As the vericoin devs don't deliver other coins outperform vericoin (i.e. the investment flows there).

So what are you celebrating here my good cheerleader friend :-))))

 

You sure do know how to twist things around.  I'll give you that much.  You haven't demonstrated anything other than how great of a bull$hit artist you can be so quit pretending like you know me or anything about me, let alone what my problems are.  The beginner link was posted for you because you didn't (and still don't) seem to grasp that the summer months are always slow for trading in just about any market.

As far as the pricing goes, you seem to be oblivious (or purposefully deceitful?) of the fact that Cloakcoin, which is currently #42 on the coin marketcap list (via http://coinmarketcap.com ), only has 4,526,601 coins in total and a market cap of $637,667 while VeriCoin, which is #27 on the list, has 26,835,360 coins and a market cap of $1,173,253 so the individual coin price is pretty much irrelevant in the way that you're trying to compare them.

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