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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 1342096 times)
souljah1h
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July 06, 2016, 03:11:39 PM
 #17481

hey guys. tl,dr
I'm holding some vrc bags. Can you give me a very short summary why i would want to exchange my vrc to verium? thanks

10x less supply.  It's a commodity like gold.  So its like having some good and cash on hand.

His question was still not answered. I understand how the whole thing benefits VRC in a lot of ways, but I still cannot understand why people who have VRC will want to exchange it to VRM? It seams like this was not really thought out very well? I understand the ICO discount etc. etc. but what gives value to VRM in the long run? The way I see it, it will always be viewed as VRCs ugly fat little brother and will start to loose value as soon as the initial hype is over. I also understand you will try to keep it 1:10 ratio but this does not mean that the market price will be proportional.

This reminds me of the emperor's new clothes where we all pretend that Verium is so cool until somebody actually starts asking questions.

Maybe this will help more

https://www.vericoinforums.com/threads/explaining-the-verium-vericoin-relationship.1330/#post-19306

That explains the mining and technical setup, but I am not really seeing what the purpose of VRM is (ie real world use or plan for distribution).

...or is it simply a matter of creating a secure and strong network at this stage, hoping that purpose will follow later ?


In short you get more security, faster transaction times and lower fees in VeriCoin the currency through Verium the reserve commodity.

Verium in addition to its benefits to VeriCoin will be a powerful, innovative and efficient PoW too.

The variable block time paradigm does a number of great things:  

-It increases blockchain performance with security.
-It automatically addresses the scalability issue BTC has.
-It softens the difficulty mechanism without loss of security, so that mining power can grow more efficiently and organically.
-Rewards in minutes per mining between blocks enables more profitability of mining that is dependent on power and time burning electric.
-A decreasing reward as the blockchain speeds, incentivizes a balance of efficiency and power, while maintaining security with a corresponding block time.
-ASIC and GPU resistant due to memory hardness.

So as a standalone PoW it will be one of the best and most innovative approaches to PoW.

Plan for distribution?



Bought some yesterday, thanks Smiley here we gooo o/
Welcome to Vericoin!  Cool

_@/'
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testbug
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July 06, 2016, 07:46:09 PM
 #17482

Hi Vericoin team :-)
I see you are doing a great work Smiley
To be honest, this dev team (especially effectstocause and pnosker) are one of the most honest and best devs i know (well sorry for the other two devs, but i don't know you or Wink )
I am very very curious what is going to happen when the VRM swap plan launches, price might be doing the same like in 2014 Wink

Keep up the good work and let's VRC skyrocket !!
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July 06, 2016, 08:08:37 PM
 #17483

hey guys. tl,dr
I'm holding some vrc bags. Can you give me a very short summary why i would want to exchange my vrc to verium? thanks

10x less supply.  It's a commodity like gold.  So its like having some good and cash on hand.

His question was still not answered. I understand how the whole thing benefits VRC in a lot of ways, but I still cannot understand why people who have VRC will want to exchange it to VRM? It seams like this was not really thought out very well? I understand the ICO discount etc. etc. but what gives value to VRM in the long run? The way I see it, it will always be viewed as VRCs ugly fat little brother and will start to loose value as soon as the initial hype is over. I also understand you will try to keep it 1:10 ratio but this does not mean that the market price will be proportional.

This reminds me of the emperor's new clothes where we all pretend that Verium is so cool until somebody actually starts asking questions.

Maybe this will help more

https://www.vericoinforums.com/threads/explaining-the-verium-vericoin-relationship.1330/#post-19306

That explains the mining and technical setup, but I am not really seeing what the purpose of VRM is (ie real world use or plan for distribution).

...or is it simply a matter of creating a secure and strong network at this stage, hoping that purpose will follow later ?


In short you get more security, faster transaction times and lower fees in VeriCoin the currency through Verium the reserve commodity.

Verium in addition to its benefits to VeriCoin will be a powerful, innovative and efficient PoW too.

The variable block time paradigm does a number of great things:  

-It increases blockchain performance with security.
-It automatically addresses the scalability issue BTC has.
-It softens the difficulty mechanism without loss of security, so that mining power can grow more efficiently and organically.
-Rewards in minutes per mining between blocks enables more profitability of mining that is dependent on power and time burning electric.
-A decreasing reward as the blockchain speeds, incentivizes a balance of efficiency and power, while maintaining security with a corresponding block time.
-ASIC and GPU resistant due to memory hardness.

So as a standalone PoW it will be one of the best and most innovative approaches to PoW.

Plan for distribution?



Sounds great in theory...still very skeptical if it'll work or be meaningful for whatever applications you have planned.  Not doubting the improvement to the coin tho, that's good and needed.  In addition hopefully those blackhand groups who manipulated this coin to hell two years or so ago are long gone from this coin, otherwise this 'could' be just another scheme to get btc from the sheep.
iTradeChips
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July 07, 2016, 12:55:26 AM
 #17484

hi i just learned about this coin recently. i dont feel like doing a lot of backreading for now. so what is verium in a nutshell? is it a separate coin? thanks

amesterdamer
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July 07, 2016, 12:59:05 AM
 #17485

hi i just learned about this coin recently. i dont feel like doing a lot of backreading for now. so what is verium in a nutshell? is it a separate coin? thanks

Nutshell:
https://bitcointalk.org/index.php?topic=1540023 and https://www.vericoinforums.com/threads/explaining-verium-information.1331/

Yes. 2 Coins
- VeriCoin (Digital Currency) - PoST
- Verium (Digital Reserve) - PoWT

Both protocols will work along each other and read the nutshell
iTradeChips
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July 07, 2016, 06:20:31 AM
 #17486

hi i just learned about this coin recently. i dont feel like doing a lot of backreading for now. so what is verium in a nutshell? is it a separate coin? thanks

Nutshell:
https://bitcointalk.org/index.php?topic=1540023 and https://www.vericoinforums.com/threads/explaining-verium-information.1331/

Yes. 2 Coins
- VeriCoin (Digital Currency) - PoST
- Verium (Digital Reserve) - PoWT

Both protocols will work along each other and read the nutshell

thanks. will have to read up a bit. btw, i have added VeriCoin and Verium to my PoS coins poll and info thread here : https://bitcointalk.org/index.php?topic=1454009.0 you guys can vote for up to 5 coins. thanks

effectsToCause
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July 07, 2016, 03:27:57 PM
 #17487

hi i just learned about this coin recently. i dont feel like doing a lot of backreading for now. so what is verium in a nutshell? is it a separate coin? thanks

Nutshell:
https://bitcointalk.org/index.php?topic=1540023 and https://www.vericoinforums.com/threads/explaining-verium-information.1331/

Yes. 2 Coins
- VeriCoin (Digital Currency) - PoST
- Verium (Digital Reserve) - PoWT

Both protocols will work along each other and read the nutshell

thanks. will have to read up a bit. btw, i have added VeriCoin and Verium to my PoS coins poll and info thread here : https://bitcointalk.org/index.php?topic=1454009.0 you guys can vote for up to 5 coins. thanks

Thanks appreciate that.  Though VeriCoin is PoS but Verium will be PoW.  Thanks.
souljah1h
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July 07, 2016, 08:55:16 PM
 #17488

Stake Weight pretty high at the moment!

_@/'
ctrent33
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July 07, 2016, 10:50:32 PM
 #17489

Vericoin and verium will be held in the same wallet?  or will there be a separate one?

NEM: NCY6DC-Q3XDNA-AZDH5T-22VB6Y-F4QNNY-3DXKRE-5ST
pnosker
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July 08, 2016, 12:36:05 AM
 #17490

Vericoin and verium will be held in the same wallet?  or will there be a separate one?

Two wallets. We may end up creating a dual wallet at some point.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
pnosker
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July 08, 2016, 12:46:50 AM
 #17491

VeriCoin holders, please vote for whether current top VRC holders that stake will receive a bounty for securing the VRC network: https://www.vericoinforums.com/threads/vote-now-vericoin-top-stakers-reward.1333/

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
BTC_Grinch
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July 08, 2016, 05:33:44 AM
 #17492

When is the Verium wallet downloadable? And do you need to update the vericoin wallet the 20th to do the swap?
Lowryda23
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July 08, 2016, 11:29:05 AM
 #17493

Hey guys , did you also cant withdrawal VRC from bter.com  Huh

I receive the message :

VRC withdrawal is disabled 因技术维护,虚拟币提取暂停,感谢您谅解和支持。

Thank you
souljah1h
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July 08, 2016, 01:27:25 PM
 #17494

In case you missed the PoST whitepaper read it here. https://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf

_@/'
coinbuyer2580
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July 08, 2016, 01:29:29 PM
 #17495

I have a question about mining VRM. I have a core i7 which is 4 physical cores but 8 logical processors, essentially windows sees 8 cpu's so will I be able to mine using the 8 logical cores or just the actual 4?
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July 08, 2016, 01:36:55 PM
 #17496

Just read everything I could find about Verium.  I now have a new interest in VRC Smiley.  It's been  quite a while since I was last in this thread but ill be keeping my eyes on how this all pans out.  GL guys

souljah1h
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July 08, 2016, 02:09:31 PM
 #17497

Just read everything I could find about Verium.  I now have a new interest in VRC Smiley.  It's been  quite a while since I was last in this thread but ill be keeping my eyes on how this all pans out.  GL guys
Welcome back  Cool

_@/'
souljah1h
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July 08, 2016, 02:38:34 PM
 #17498

I have a question about mining VRM. I have a core i7 which is 4 physical cores but 8 logical processors, essentially windows sees 8 cpu's so will I be able to mine using the 8 logical cores or just the actual 4?
Pnosker just told me:

8

But it may be slower than 4, hyperthreading works well in certain situations but might not here.
Also your computer would probably be extremely slow unless you use 3/6 total rather than maxing it out.

_@/'
effectsToCause
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July 08, 2016, 02:52:36 PM
 #17499

When is the Verium wallet downloadable? And do you need to update the vericoin wallet the 20th to do the swap?

The Verium wallet will be released after the ICO, the exact date is not yet determined but not long after after ICO ends. To partake in ICO you need the current VeriCoin wallet available now at http://www.vericoin.info/ to generate a Verium public and private key pair for import into the released Verium wallet. There will be a walk through on those steps as we get closer to ICO but you can export and generate this key pair very easily in the current wallet 1.6.5 via the file menu export private key option. Verium and VeriCoin keys are the same format.
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July 08, 2016, 03:57:12 PM
 #17500

In case you missed the PoST whitepaper read it here. https://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf

Hey there , ok i read now the whitepaper but 1 question ... in Poloniex i can buy and sell how much VRC i like without waiting .. Why i cant do that with bter.com ??
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