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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1348515 times)
Reavon
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June 25, 2014, 01:11:04 PM
 #4281

IMO the devs should comment on these close ties with this manipulation group. No serious investor will jump on a coin with an official P&D group. Won't be buying back in before this is cleared up. I thought vrc was supposed to be transparent but sharing bed with this group is a red card from me

There's nothing to say about Black Hand. They are people who bought VeriCoin. They have been very good citizens of the coin donating quite a bit to the VeriFund and helping us finish projects using bounty money. They have no control over coin code or direction. I think they legitimately realize the potential of VeriCoin and I don't think you're going to see any dumping from them coming in the near future.

VeriCoin is an open coin. Who are we to say who can and cannot own it? If Black Hand wants to be a holder of VeriCoin because they believe in it and they want to help fund the PR Agency and other tasks, that is fine by me and the other devs. We are not characters of judgement. Anybody group could come in and buy VeriCoin and we could either know or not. At least with Black Hand-- they are open about holding it.

As for VeriBit, there is a large buffer of BTC we have donated by a large investor (not in Black Hand) to block any market disrupting uses of it. For now we will limit maximum sends of 1 BTC until we can ensure we will not manipulate the price greatly. We are leveraging the optimal buying algorithm to recover the BTC after a VeriBit transaction and it's been seamless so far. There are no "fees" per se, but the conversion rate is constructed using price levels and often leaves us with ~1% extra BTC after. That BTC goes to boost the buffer to reduce potential damage from sends in the future. Nobody is getting rich of VeriBit. It's designed to help the community, not make much profit.

I am very excited about its release. If you are skeptical about it, just don't use it. The core of VeriCoin is the open code and blockchain. The "apps" we have made for it just add utility. And while centralized right now, we are decentralizing VeriSend after we finish testing and anybody can open their own ringnodes. VeriBit, due to the mechanism in which it works, will always remain controlled by us (though anyone could make a similar service) as well as VeriSMS (someone could also make a version of that). Both are relatively expensive to maintain and we are funding them with VeriFund donations.

Don't forget: Today marks a new era in Crypto. Gone are the days where a user must make an exchange account to spend his or her altcoins. With direct VRC to BTC spending, it's time for the most utilitarian coin, VeriCoin, to shine.


sry for quoting so much but this is going to be stand on every site!... and i want to become HeroMember so i need posts Cheesy
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ScottAllyn
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June 25, 2014, 01:11:20 PM
 #4282

What is Veribit?

VeriBit is a feature that allows people to use/spend VeriCoins anywhere that Bitcoins are accepted. Here is a desktop video of me using the current implementation to buy a Papa Johns Pizza gift certificate:

http://youtu.be/PLuBgdQJ6NQ

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Djinou94
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June 25, 2014, 01:12:05 PM
 #4283

What is Veribit?


VeriBit is a service which converts VeriCoin into BTC , so you can shop anywhere BTC is accepted ...WITH VERICOIN!
Game changer application in my oppinion.

Oh ok interesting
germsite
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June 25, 2014, 01:15:10 PM
 #4284

As for VeriBit, there is a large buffer of BTC we have donated by a large investor (not in Black Hand) to block any market disrupting uses of it. For now we will limit maximum sends of 1 BTC until we can ensure we will not manipulate the price greatly. We are leveraging the optimal buying algorithm to recover the BTC after a VeriBit transaction and it's been seamless so far. There are no "fees" per se, but the conversion rate is constructed using price levels and often leaves us with ~1% extra BTC after. That BTC goes to boost the buffer to reduce potential damage from sends in the future. Nobody is getting rich of VeriBit. It's designed to help the community, not make much profit.

That's useful, and very pertinent information that needs to be layed out clearly for people, so that they can decide whether they are happy to pay the ~1% premium. It's an interesting development, I look forward to seeing how it's received.

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hitchcoin
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June 25, 2014, 01:17:18 PM
 #4285

What is Veribit?

VeriBit is a feature that allows people to use/spend VeriCoins anywhere that Bitcoins are accepted. Here is a desktop video of me using the current implementation to buy a Papa Johns Pizza gift certificate:

http://youtu.be/PLuBgdQJ6NQ

wow...thank you for that! Well i guess we should thank the dev's, but thank you for taking the time to post that video.

cryptodevil
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June 25, 2014, 01:17:26 PM
 #4286

38.2% Fibo support and rsi reversing.
Have a good trade.

Oh FFS, will you just shove it up your . . .jumper, with all the BS 'TA' bologna.

Nobody here wants to see your stupid-ass graphs with wiggle lines and 'clever' phrases that describe, well, what do they describe, oh yes, vague hand-wavy nonsense that may or may not come to pass but, either way, you'll have a reason to excuse why it didn't and a crowing i-told-you-so if it does.

Go tell it to people who have yet to grasp critical thinking and objective reasoning. I believe you might needed over in the Silkcoin thread.


Localbitcoins user accounts are being bought, be extremely cautious, even with previously good traders!
pnosker
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June 25, 2014, 01:18:12 PM
 #4287

As for VeriBit, there is a large buffer of BTC we have donated by a large investor (not in Black Hand) to block any market disrupting uses of it. For now we will limit maximum sends of 1 BTC until we can ensure we will not manipulate the price greatly. We are leveraging the optimal buying algorithm to recover the BTC after a VeriBit transaction and it's been seamless so far. There are no "fees" per se, but the conversion rate is constructed using price levels and often leaves us with ~1% extra BTC after. That BTC goes to boost the buffer to reduce potential damage from sends in the future. Nobody is getting rich of VeriBit. It's designed to help the community, not make much profit.

That's useful, and very pertinent information that needs to be layed out clearly for people, so that they can decide whether they are happy to pay the ~1% premium. It's an interesting development, I look forward to seeing how it's received.

It's not a 1% premium when the market goes down. The system just calculates the lowest price required to ensure it can buy back the BTC. We trained it so it will be minimal. Really, it's just a price. The % depends on how much BTC you want. The more BTC, the higher the rate-- it's just how the market works.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
X-Laboratories
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June 25, 2014, 01:24:18 PM
 #4288

You re stuck in the mud at 38k mate don t you?
i rebought at 27k
cya, dummy nonsense guy behind a monitor.

https://www.youtube.com/embed/G_Z3lmidmrY


38.2% Fibo support and rsi reversing.
Have a good trade.

Oh FFS, will you just shove it up your . . .jumper, with all the BS 'TA' bologna.

Nobody here wants to see your stupid-ass graphs with wiggle lines and 'clever' phrases that describe, well, what do they describe, oh yes, vague hand-wavy nonsense that may or may not come to pass but, either way, you'll have a reason to excuse why it didn't and a crowing i-told-you-so if it does.

Go tell it to people who have yet to grasp critical thinking and objective reasoning. I believe you might needed over in the Silkcoin thread.



"sine secretum non libertas"
BTC 1ABmTBQ3BAJ8tY6EpPM9a6ZoaWsaJipdGV
LTC LS5ejuvBJFAEZEDhYf3KAN8nGjjayTYxez
qawzsx
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June 25, 2014, 01:24:22 PM
 #4289

What is Veribit?

VeriBit is a feature that allows people to use/spend VeriCoins anywhere that Bitcoins are accepted. Here is a desktop video of me using the current implementation to buy a Papa Johns Pizza gift certificate:

http://youtu.be/PLuBgdQJ6NQ


I don't see how is that special at all...
I can always exchange VeriCoin on a legit exchange and pay with BTC from there...and do it faster...
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June 25, 2014, 01:26:04 PM
 #4290

anyone want to sell me $20 worth of VRC via Paypal.. I am verified and a member since 2001

I only have 302 coins and need to get more... VHEpDfrv6FwZGGuLCiGskVoDGCW74K8tJB

I don't have much mining power... it only makes me 5 coins a day so I want to buy some..

If you have VRC coins to sell and you are trust worthy.. PM me the number of coins I can get for $20 usd for now..

Vericoins Here = VXCBhfbtwJDxnnQQRpUcpKKMwcsVGsT1AJ
LetsTalkBitcoin: http://ecoinincome.com.au/LetsTalkBitCoin.php
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June 25, 2014, 01:27:27 PM
 #4291

What is Veribit?

VeriBit is a feature that allows people to use/spend VeriCoins anywhere that Bitcoins are accepted. Here is a desktop video of me using the current implementation to buy a Papa Johns Pizza gift certificate:

http://youtu.be/PLuBgdQJ6NQ


I don't see how is that special at all...
I can always exchange VeriCoin on a legit exchange and pay with BTC from there...and do it faster...


Is that so? How is that faster then immediately paying with Vericoin? I really don't see how you want to do that with an exchanger in the middle.

Quote
anyone want to sell me $20 worth of VRC via Paypal.

I stopped reading from there. It is never wise to sell coins with paypal!!

Need BadAss Bulletproof VPS or Bulletproof VPN or why not just mail safe with Safe-Mail. We care about your privacy.
buy4crypto
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June 25, 2014, 01:29:25 PM
 #4292

What is Veribit?

VeriBit is a feature that allows people to use/spend VeriCoins anywhere that Bitcoins are accepted. Here is a desktop video of me using the current implementation to buy a Papa Johns Pizza gift certificate:

http://youtu.be/PLuBgdQJ6NQ


I don't see how is that special at all...
I can always exchange VeriCoin on a legit exchange and pay with BTC from there...and do it faster...


Do you gain interest on said btc? How about fees? Speed of transaction for delivery to other exchanges? Did you account for all that?

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June 25, 2014, 01:29:45 PM
 #4293

This coin has brass balls.
cryptodevil
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June 25, 2014, 01:30:40 PM
 #4294

You re stuck in the mud at 38k mate don t you?
i rebought at 27k

You know nothing of my positions so let's not get into a pissing match because you'd end up wet and stinky. But I do love it when people like to spout off on a thread about how they bought in at X figure and sold at X time two and rebought etc. etc. I just thought I'd tell you that because clearly you're looking for approval from someone for your heroic claims so, bravo wee man, bravo, you'll be wearing long trousers in no time.

Eesh.

Now, back to a discussion worth actually having, Patrick, can you add the per/Mh/per/day rating to the multipool please?


Localbitcoins user accounts are being bought, be extremely cautious, even with previously good traders!
pnosker
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June 25, 2014, 01:32:43 PM
 #4295

Any word on when pool.vericoin.info will be back online?

It's back up.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
qawzsx
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June 25, 2014, 01:32:54 PM
 #4296

What is Veribit?

VeriBit is a feature that allows people to use/spend VeriCoins anywhere that Bitcoins are accepted. Here is a desktop video of me using the current implementation to buy a Papa Johns Pizza gift certificate:

http://youtu.be/PLuBgdQJ6NQ


I don't see how is that special at all...
I can always exchange VeriCoin on a legit exchange and pay with BTC from there...and do it faster...


Do you gain interest on said btc? How about fees? Speed of transaction for delivery to other exchanges? Did you account for all that?

Lol, we are talking about <0,1% fees.
I'm all good with that fees for 100% price transparency.

Thanks
germsite
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June 25, 2014, 01:36:35 PM
 #4297

As for VeriBit, there is a large buffer of BTC we have donated by a large investor (not in Black Hand) to block any market disrupting uses of it. For now we will limit maximum sends of 1 BTC until we can ensure we will not manipulate the price greatly. We are leveraging the optimal buying algorithm to recover the BTC after a VeriBit transaction and it's been seamless so far. There are no "fees" per se, but the conversion rate is constructed using price levels and often leaves us with ~1% extra BTC after. That BTC goes to boost the buffer to reduce potential damage from sends in the future. Nobody is getting rich of VeriBit. It's designed to help the community, not make much profit.

That's useful, and very pertinent information that needs to be layed out clearly for people, so that they can decide whether they are happy to pay the ~1% premium. It's an interesting development, I look forward to seeing how it's received.

It's not a 1% premium when the market goes down. The system just calculates the lowest price required to ensure it can buy back the BTC. We trained it so it will be minimal. Really, it's just a price. The % depends on how much BTC you want. The more BTC, the higher the rate-- it's just how the market works.

If you're often left with ~1% extra BTC, then that's a premium on top of what I would have paid to go through an exchange. I don't have a problem with that if the info is laid out for people. Many users will be happy to pay something for the convenience. But that's a  side issue.

I don't understand the '% depends on how much BTC you want' part. Why is this ? When trading on an exchange, I am not presented with a different rate according to the value I am trading. Am I missing something ?


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pnosker
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June 25, 2014, 01:39:35 PM
 #4298

As for VeriBit, there is a large buffer of BTC we have donated by a large investor (not in Black Hand) to block any market disrupting uses of it. For now we will limit maximum sends of 1 BTC until we can ensure we will not manipulate the price greatly. We are leveraging the optimal buying algorithm to recover the BTC after a VeriBit transaction and it's been seamless so far. There are no "fees" per se, but the conversion rate is constructed using price levels and often leaves us with ~1% extra BTC after. That BTC goes to boost the buffer to reduce potential damage from sends in the future. Nobody is getting rich of VeriBit. It's designed to help the community, not make much profit.

That's useful, and very pertinent information that needs to be layed out clearly for people, so that they can decide whether they are happy to pay the ~1% premium. It's an interesting development, I look forward to seeing how it's received.

It's not a 1% premium when the market goes down. The system just calculates the lowest price required to ensure it can buy back the BTC. We trained it so it will be minimal. Really, it's just a price. The % depends on how much BTC you want. The more BTC, the higher the rate-- it's just how the market works.

If you're often left with ~1% extra BTC, then that's a premium on top of what I would have paid to go through an exchange. I don't have a problem with that if the info is laid out for people. Many users will be happy to pay something for the convenience. But that's a  side issue.

I don't understand the '% depends on how much BTC you want' part. Why is this ? When trading on an exchange, I am not presented with a different rate according to the value I am trading. Am I missing something ?



We'll list that there's some fees to cover the exchange. Imagine the following scenario:

There's buy orders for 0.1 BTC at 30k sat. and 1.5 BTC at 29.5k sat. If you want to send a 0.05 BTC transaction, it will use the value as 30k sat + 2 VRC as the fee. If you want to send 1.0 BTC it will use a weighted average of the 0.1 BTC and 1.5 BTC orders. Make sense? It does this because it needs to recapture enough BTC to keep the buffer alive. The fee is 2 VRC right now plus actual exchange rate.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
qawzsx
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June 25, 2014, 01:40:14 PM
 #4299

As for VeriBit, there is a large buffer of BTC we have donated by a large investor (not in Black Hand) to block any market disrupting uses of it. For now we will limit maximum sends of 1 BTC until we can ensure we will not manipulate the price greatly. We are leveraging the optimal buying algorithm to recover the BTC after a VeriBit transaction and it's been seamless so far. There are no "fees" per se, but the conversion rate is constructed using price levels and often leaves us with ~1% extra BTC after. That BTC goes to boost the buffer to reduce potential damage from sends in the future. Nobody is getting rich of VeriBit. It's designed to help the community, not make much profit.

That's useful, and very pertinent information that needs to be layed out clearly for people, so that they can decide whether they are happy to pay the ~1% premium. It's an interesting development, I look forward to seeing how it's received.

It's not a 1% premium when the market goes down. The system just calculates the lowest price required to ensure it can buy back the BTC. We trained it so it will be minimal. Really, it's just a price. The % depends on how much BTC you want. The more BTC, the higher the rate-- it's just how the market works.

If you're often left with ~1% extra BTC, then that's a premium on top of what I would have paid to go through an exchange. I don't have a problem with that if the info is laid out for people. Many users will be happy to pay something for the convenience. But that's a  side issue.

I don't understand the '% depends on how much BTC you want' part. Why is this ? When trading on an exchange, I am not presented with a different rate according to the value I am trading. Am I missing something ?



Exactly what I was trying to say...
Useless service. I'm better with exchanging vericoin in a legit exchange with 100% price transparency.
I don't see this service useful at all, as long as the service is doing nothing special, except for the fact that the VRC are exchanged on an exchange by a script
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June 25, 2014, 01:41:04 PM
 #4300

What is Veribit?

VeriBit is a feature that allows people to use/spend VeriCoins anywhere that Bitcoins are accepted. Here is a desktop video of me using the current implementation to buy a Papa Johns Pizza gift certificate:

http://youtu.be/PLuBgdQJ6NQ


I don't see how is that special at all...
I can always exchange VeriCoin on a legit exchange and pay with BTC from there...and do it faster...


Do you gain interest on said btc? How about fees? Speed of transaction for delivery to other exchanges? Did you account for all that?

Lol, we are talking about <0,1% fees.
I'm all good with that fees for 100% price transparency.

Thanks


You have another layer of verisend, so veribit with verisend means: buying everywhere with VRC where BTC is accepted directly, using anonymous transaction.

So ask yourself if anonymous is such a great hype right now, actually what coin with anonymous built in, can actually offer using it, for real, using it everywhere where btc is accepted.
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