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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1346485 times)
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July 07, 2014, 10:24:13 PM
 #7121

Oh dear.  looks like a couple of whales just took some big hits.  Nom, nom....  Whale sushi for dinner tonight.

BTW, Thanks for the coins you bipolar weirdo.
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July 08, 2014, 12:33:48 AM
 #7122


Hes looking at the 1 minute chart.  Grin

Outside reversal in the candlesticks. All those people charting out the drop to x just got the same signal to buy now for a steady increase in the days ahead.
lol looking at 1 min chart


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July 08, 2014, 03:57:02 AM
 #7123

holy shit who is behind this huge pump??
is it a bull trap, some small pump, orchestrated by dirty iconic Trader who didnot aquire sell all remaining coins or is it something good for us?
is it a final reversal of that dirty dump?


awwwww does the little FUD spreading weakhand want his coins he sold back?

Didn't I tell you this would happen? Take your FUD elsewhere bro, I'm done with you.
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July 08, 2014, 05:16:17 AM
 #7124

To add to the largest amount being staked today by minters at 16-18 million. You also have a large increase in wallets to the biggest amount at over 5,000 now.

Looks like VRC is starting to get some nice distribution.


Yet Another Staking Question:  Does the network staking number only include the coins marked "Staked"?  If so, there are millions of coins sitting in wallets trying to be staked, but aren't yet.  I have a dedicated wallet jut for staking and I have never seen more than 20% of them "Staked" at any time.  Matter of fact, the number of my "Staked" coins went down over night... curious.


I have the same question... In fact, it would be nice to see some more details on staking on the vericoin website...  http://www.vericoin.info/interest.html. From what I'm reading (i think) an open wallet is going to earn a dynamic interest rate from 0 to 3%. I had a wallet open for two days and noting happened, so it would be interesting to see some more information on the staking mechanism.

That being said the thread here seems overly focused on buy/sell with attention to btc conversion, which seems to me just another alt coin method. Staking appears to be the way to prevent this pump and dump alt coin explosion though which I think is positive.

Also no idea what verifund is, The chart on the website doesn't explain much. So I'm confused about that as well. I'm interested in this coin, but it's suffering from a lack of information.

Maybe I'll contact the vericoin team and see if they are planning on doing any more information on staking or verifund.



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July 08, 2014, 05:42:40 AM
 #7125

To add to the largest amount being staked today by minters at 16-18 million. You also have a large increase in wallets to the biggest amount at over 5,000 now.

Looks like VRC is starting to get some nice distribution.


Yet Another Staking Question:  Does the network staking number only include the coins marked "Staked"?  If so, there are millions of coins sitting in wallets trying to be staked, but aren't yet.  I have a dedicated wallet jut for staking and I have never seen more than 20% of them "Staked" at any time.  Matter of fact, the number of my "Staked" coins went down over night... curious.


I have the same question... In fact, it would be nice to see some more details on staking on the vericoin website...  http://www.vericoin.info/interest.html. From what I'm reading (i think) an open wallet is going to earn a dynamic interest rate from 0 to 3%. I had a wallet open for two days and noting happened, so it would be interesting to see some more information on the staking mechanism.


Staking is the counterpart to mining in proof-of-work based cryptos currencies like Bitcoin. You only stake when you generate a block (and therefore confirm transactions within this block). The staked coins serve as proof that replaces the work and of course you can not stake infinite many coins at once. In order to generate a valid block its header has to fulfill a certain property, i.e. its hash must be smaller than a specific target value (specified by the protocol, similar to the difficulty in PoW mining) times the coin age of the coins that you are willing to stake. This is also called weight.

The age of the coins increases linearly over time and reaches back to the PeerCoin protocol (its worth reading the whitepaper!). Staking coins or using them in another transaction resets their age to 0. If you sum up the weight of all staking nodes in the network, you will get the so called network weight. The reward you will get depends on the weight being consumed when putting them on stake and is furthermore scaled in Vericoin by the logarithmic curve of the network weight you see on the first page of this thread, which starts at 0% and converges at ~3%.

The coin age principle ensures that also nodes with a small amount of coins quickly find a block if they come online after waiting for some longer time. This also has some disadvantages which is why BlackCoin now switches to a mechanism that doesn't use coin age anymore (its also worth reading this whitepaper!).

So having all coins on stake at once is quite an unlikely event and furthermore you certainly want to avoid that one node finds several blocks in a row because finding 10 blocks in a row would enable the node to perform a double spend.
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July 08, 2014, 05:48:13 AM
 #7126

To add to the largest amount being staked today by minters at 16-18 million. You also have a large increase in wallets to the biggest amount at over 5,000 now.

Looks like VRC is starting to get some nice distribution.


Yet Another Staking Question:  Does the network staking number only include the coins marked "Staked"?  If so, there are millions of coins sitting in wallets trying to be staked, but aren't yet.  I have a dedicated wallet jut for staking and I have never seen more than 20% of them "Staked" at any time.  Matter of fact, the number of my "Staked" coins went down over night... curious.


I have the same question... In fact, it would be nice to see some more details on staking on the vericoin website...  http://www.vericoin.info/interest.html. From what I'm reading (i think) an open wallet is going to earn a dynamic interest rate from 0 to 3%. I had a wallet open for two days and noting happened, so it would be interesting to see some more information on the staking mechanism.

That being said the thread here seems overly focused on buy/sell with attention to btc conversion, which seems to me just another alt coin method. Staking appears to be the way to prevent this pump and dump alt coin explosion though which I think is positive.

Also no idea what verifund is, The chart on the website doesn't explain much. So I'm confused about that as well. I'm interested in this coin, but it's suffering from a lack of information.

Maybe I'll contact the vericoin team and see if they are planning on doing any more information on staking or verifund.

When your coins are staking you get interest for staking, but even for the coins that are not staking you will catch up on the interest when it is their  turn to be staking. That will give you roughly 2.2% interest for the whole amount that you have in your wallet for the time being (this rate depends on the total number of coins being kept in the wallet by everyone).
So do not bother if you see one fith or even less of your coins only staking. If you were going to open your wallet once a week or leave it open constantly it wouldn't make any difference for this part of the interest).
The advantage of having the wallet open more often rather than once a year is that you would get compound interest (that means that the interest being added to your capital would also bring you some interest) so instead of for instance gaining 2.2% interest a year, you would get about 2.4%).
Hope this makes it a bit clearer for you.

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July 08, 2014, 06:33:14 AM
 #7127

To add to the largest amount being staked today by minters at 16-18 million. You also have a large increase in wallets to the biggest amount at over 5,000 now.

Looks like VRC is starting to get some nice distribution.


Yet Another Staking Question:  Does the network staking number only include the coins marked "Staked"?  If so, there are millions of coins sitting in wallets trying to be staked, but aren't yet.  I have a dedicated wallet jut for staking and I have never seen more than 20% of them "Staked" at any time.  Matter of fact, the number of my "Staked" coins went down over night... curious.


I have the same question... In fact, it would be nice to see some more details on staking on the vericoin website...  http://www.vericoin.info/interest.html. From what I'm reading (i think) an open wallet is going to earn a dynamic interest rate from 0 to 3%. I had a wallet open for two days and noting happened, so it would be interesting to see some more information on the staking mechanism.


Staking is the counterpart to mining in proof-of-work based cryptos currencies like Bitcoin. You only stake when you generate a block (and therefore confirm transactions within this block). The staked coins serve as proof that replaces the work and of course you can not stake infinite many coins at once. In order to generate a valid block its header has to fulfill a certain property, i.e. its hash must be smaller than a specific target value (specified by the protocol, similar to the difficulty in PoW mining) times the coin age of the coins that you are willing to stake. This is also called weight.

The age of the coins increases linearly over time and reaches back to the PeerCoin protocol (its worth reading the whitepaper!). Staking coins or using them in another transaction resets their age to 0. If you sum up the weight of all staking nodes in the network, you will get the so called network weight. The reward you will get depends on the weight being consumed when putting them on stake and is furthermore scaled in Vericoin by the logarithmic curve of the network weight you see on the first page of this thread, which starts at 0% and converges at ~3%.

The coin age principle ensures that also nodes with a small amount of coins quickly find a block if they come online after waiting for some longer time. This also has some disadvantages which is why BlackCoin now switches to a mechanism that doesn't use coin age anymore (its also worth reading this whitepaper!).

So having all coins on stake at once is quite an unlikely event and furthermore you certainly want to avoid that one node finds several blocks in a row because finding 10 blocks in a row would enable the node to perform a double spend.

Excellent explanation, thanks.

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July 08, 2014, 07:01:58 AM
 #7128

To add to the largest amount being staked today by minters at 16-18 million. You also have a large increase in wallets to the biggest amount at over 5,000 now.

Looks like VRC is starting to get some nice distribution.


Yet Another Staking Question:  Does the network staking number only include the coins marked "Staked"?  If so, there are millions of coins sitting in wallets trying to be staked, but aren't yet.  I have a dedicated wallet jut for staking and I have never seen more than 20% of them "Staked" at any time.  Matter of fact, the number of my "Staked" coins went down over night... curious.


I have the same question... In fact, it would be nice to see some more details on staking on the vericoin website...  http://www.vericoin.info/interest.html. From what I'm reading (i think) an open wallet is going to earn a dynamic interest rate from 0 to 3%. I had a wallet open for two days and noting happened, so it would be interesting to see some more information on the staking mechanism.



Staking is the counterpart to mining in proof-of-work based cryptos currencies like Bitcoin. You only stake when you generate a block (and therefore confirm transactions within this block). The staked coins serve as proof that replaces the work and of course you can not stake infinite many coins at once. In order to generate a valid block its header has to fulfill a certain property, i.e. its hash must be smaller than a specific target value (specified by the protocol, similar to the difficulty in PoW mining) times the coin age of the coins that you are willing to stake. This is also called weight.

The age of the coins increases linearly over time and reaches back to the PeerCoin protocol (its worth reading the whitepaper!). Staking coins or using them in another transaction resets their age to 0. If you sum up the weight of all staking nodes in the network, you will get the so called network weight. The reward you will get depends on the weight being consumed when putting them on stake and is furthermore scaled in Vericoin by the logarithmic curve of the network weight you see on the first page of this thread, which starts at 0% and converges at ~3%.

The coin age principle ensures that also nodes with a small amount of coins quickly find a block if they come online after waiting for some longer time. This also has some disadvantages which is why BlackCoin now switches to a mechanism that doesn't use coin age anymore (its also worth reading this whitepaper!).

So having all coins on stake at once is quite an unlikely event and furthermore you certainly want to avoid that one node finds several blocks in a row because finding 10 blocks in a row would enable the node to perform a double spend.

Excellent explanation, thanks.

This kind of information would be great in a FAQ. Is there a subject matter expert that could whip one up and put it on the website?

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
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July 08, 2014, 07:03:09 AM
 #7129

I just pointed all my asics and gpus at veripool. i think the devs need to carve out a little time to promote the pool better (sha is down from 22TH to 8TH). it really is a win-win to use the pool.

 1. Miner's get VRC without paying exchange fees.
 2. VeriFund gets funding.
 3. VRC will be mined at a great exchange rate and be VERI valuable in the near future.

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
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July 08, 2014, 07:06:43 AM
 #7130

To add to the largest amount being staked today by minters at 16-18 million. You also have a large increase in wallets to the biggest amount at over 5,000 now.

Looks like VRC is starting to get some nice distribution.


Yet Another Staking Question:  Does the network staking number only include the coins marked "Staked"?  If so, there are millions of coins sitting in wallets trying to be staked, but aren't yet.  I have a dedicated wallet jut for staking and I have never seen more than 20% of them "Staked" at any time.  Matter of fact, the number of my "Staked" coins went down over night... curious.


I have the same question... In fact, it would be nice to see some more details on staking on the vericoin website...  http://www.vericoin.info/interest.html. From what I'm reading (i think) an open wallet is going to earn a dynamic interest rate from 0 to 3%. I had a wallet open for two days and noting happened, so it would be interesting to see some more information on the staking mechanism.


Staking is the counterpart to mining in proof-of-work based cryptos currencies like Bitcoin. You only stake when you generate a block (and therefore confirm transactions within this block). The staked coins serve as proof that replaces the work and of course you can not stake infinite many coins at once. In order to generate a valid block its header has to fulfill a certain property, i.e. its hash must be smaller than a specific target value (specified by the protocol, similar to the difficulty in PoW mining) times the coin age of the coins that you are willing to stake. This is also called weight.

The age of the coins increases linearly over time and reaches back to the PeerCoin protocol (its worth reading the whitepaper!). Staking coins or using them in another transaction resets their age to 0. If you sum up the weight of all staking nodes in the network, you will get the so called network weight. The reward you will get depends on the weight being consumed when putting them on stake and is furthermore scaled in Vericoin by the logarithmic curve of the network weight you see on the first page of this thread, which starts at 0% and converges at ~3%.

The coin age principle ensures that also nodes with a small amount of coins quickly find a block if they come online after waiting for some longer time. This also has some disadvantages which is why BlackCoin now switches to a mechanism that doesn't use coin age anymore (its also worth reading this whitepaper!).

So having all coins on stake at once is quite an unlikely event and furthermore you certainly want to avoid that one node finds several blocks in a row because finding 10 blocks in a row would enable the node to perform a double spend.

Blackcoin developers are actively working on improving the Proof of Stake protocol in the meantime Vericoin developers are working on wallets that incorporate centralized gimmick services, which is quite antithetical to the entire p2p cryptocurrency movement but easier to program. But I guess they can always cannibalize the work of the developers who are actually furthering the protocol and focus on making services that are already accomplished by third parties for blackcoin (holytransaction, expressend, blackhalo).

Even the multipool concept was directly ripped off from blackcoin, but they still can't do it as well. The blackcoin pool has more people, is built by a third party and has way better features.

Truth is any centralized feature that Vericoin builds, we will build open source, more feature rich, more secure and decentralized whenever possible. You can play the short term pump and dump games, while we push cryptocurrency forward.

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July 08, 2014, 07:14:43 AM
 #7131

Fact: Chinese whale pump group is behind this rise, you are foolish to think this is normal.

I intended to stay in VRC, up until Iconic Expert got involved and suddenly VRC was all in love with the blackcoin team, who tried their best to fud this coin to death and other things.

SO i wanted out, thanks to daikoku, i was able to exit yesterday and in the process, i made that group buy much higher than they wanted! By selling nito their fake buy walls.

So insted of them dumping in your faces around 43/45k area (since they bought it al up from 30/36 original. They have got a much higher buy in price around 37k and will have to now push it even further before (and they will hard) dump the price down.

(you will be happy to hear) I will not buy in. I honestly hope VRC goes to 100k ats. But because of everything that has happened, i feel this price is much harder to reach now.

Also it is about time more members here done more for the coin.

I made 2 videos promoting veribit,
Donated $100 for the bitcoin conference.
Bought a silver coin for $50 which half goes to the devs.
AND i donated 20k, twenty thousand,  (8 BTC value) Vericoins to Patrick.

Only a very small handful of people here have actually done something good for the coin.
The rest of you are lazy and do not want to work for your money.
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July 08, 2014, 07:15:19 AM
 #7132

To add to the largest amount being staked today by minters at 16-18 million. You also have a large increase in wallets to the biggest amount at over 5,000 now.

Looks like VRC is starting to get some nice distribution.


Yet Another Staking Question:  Does the network staking number only include the coins marked "Staked"?  If so, there are millions of coins sitting in wallets trying to be staked, but aren't yet.  I have a dedicated wallet jut for staking and I have never seen more than 20% of them "Staked" at any time.  Matter of fact, the number of my "Staked" coins went down over night... curious.


I have the same question... In fact, it would be nice to see some more details on staking on the vericoin website...  http://www.vericoin.info/interest.html. From what I'm reading (i think) an open wallet is going to earn a dynamic interest rate from 0 to 3%. I had a wallet open for two days and noting happened, so it would be interesting to see some more information on the staking mechanism.


Staking is the counterpart to mining in proof-of-work based cryptos currencies like Bitcoin. You only stake when you generate a block (and therefore confirm transactions within this block). The staked coins serve as proof that replaces the work and of course you can not stake infinite many coins at once. In order to generate a valid block its header has to fulfill a certain property, i.e. its hash must be smaller than a specific target value (specified by the protocol, similar to the difficulty in PoW mining) times the coin age of the coins that you are willing to stake. This is also called weight.

The age of the coins increases linearly over time and reaches back to the PeerCoin protocol (its worth reading the whitepaper!). Staking coins or using them in another transaction resets their age to 0. If you sum up the weight of all staking nodes in the network, you will get the so called network weight. The reward you will get depends on the weight being consumed when putting them on stake and is furthermore scaled in Vericoin by the logarithmic curve of the network weight you see on the first page of this thread, which starts at 0% and converges at ~3%.

The coin age principle ensures that also nodes with a small amount of coins quickly find a block if they come online after waiting for some longer time. This also has some disadvantages which is why BlackCoin now switches to a mechanism that doesn't use coin age anymore (its also worth reading this whitepaper!).

So having all coins on stake at once is quite an unlikely event and furthermore you certainly want to avoid that one node finds several blocks in a row because finding 10 blocks in a row would enable the node to perform a double spend.

[FUD snipped]


We must be going up again guys and gals!

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
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July 08, 2014, 07:22:53 AM
 #7133

To add to the largest amount being staked today by minters at 16-18 million. You also have a large increase in wallets to the biggest amount at over 5,000 now.

Looks like VRC is starting to get some nice distribution.


Yet Another Staking Question:  Does the network staking number only include the coins marked "Staked"?  If so, there are millions of coins sitting in wallets trying to be staked, but aren't yet.  I have a dedicated wallet jut for staking and I have never seen more than 20% of them "Staked" at any time.  Matter of fact, the number of my "Staked" coins went down over night... curious.


I have the same question... In fact, it would be nice to see some more details on staking on the vericoin website...  http://www.vericoin.info/interest.html. From what I'm reading (i think) an open wallet is going to earn a dynamic interest rate from 0 to 3%. I had a wallet open for two days and noting happened, so it would be interesting to see some more information on the staking mechanism.


Staking is the counterpart to mining in proof-of-work based cryptos currencies like Bitcoin. You only stake when you generate a block (and therefore confirm transactions within this block). The staked coins serve as proof that replaces the work and of course you can not stake infinite many coins at once. In order to generate a valid block its header has to fulfill a certain property, i.e. its hash must be smaller than a specific target value (specified by the protocol, similar to the difficulty in PoW mining) times the coin age of the coins that you are willing to stake. This is also called weight.

The age of the coins increases linearly over time and reaches back to the PeerCoin protocol (its worth reading the whitepaper!). Staking coins or using them in another transaction resets their age to 0. If you sum up the weight of all staking nodes in the network, you will get the so called network weight. The reward you will get depends on the weight being consumed when putting them on stake and is furthermore scaled in Vericoin by the logarithmic curve of the network weight you see on the first page of this thread, which starts at 0% and converges at ~3%.

The coin age principle ensures that also nodes with a small amount of coins quickly find a block if they come online after waiting for some longer time. This also has some disadvantages which is why BlackCoin now switches to a mechanism that doesn't use coin age anymore (its also worth reading this whitepaper!).

So having all coins on stake at once is quite an unlikely event and furthermore you certainly want to avoid that one node finds several blocks in a row because finding 10 blocks in a row would enable the node to perform a double spend.

Blackcoin developers are actively working on improving the Proof of Stake protocol in the meantime Vericoin developers are working on wallets that incorporate centralized gimmick services, which is quite antithetical to the entire p2p cryptocurrency movement but easier to program. But I guess they can always cannibalize the work of the developers who are actually furthering the protocol and focus on making services that are already accomplished by third parties for blackcoin (holytransaction, expressend, blackhalo).

Even the multipool concept was directly ripped off from blackcoin, but they still can't do it as well. The blackcoin pool has more people, is built by a third party and has way better features.

Truth is any centralized feature that Vericoin builds, we will build open source, more feature rich, more secure and decentralized whenever possible. You can play the short term pump and dump games, while we push cryptocurrency forward.

Way to be a basher, if you were so convinced your preferd coin was better, you wouldn't even be in here looking to promote & sway opinions. Reading in between the lines is key.
ozboy2014
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July 08, 2014, 07:32:43 AM
 #7134

Fact: Chinese whale pump group is behind this rise, you are foolish to think this is normal.

I intended to stay in VRC, up until Iconic Expert got involved and suddenly VRC was all in love with the blackcoin team, who tried their best to fud this coin to death and other things.

SO i wanted out, thanks to daikoku, i was able to exit yesterday and in the process, i made that group buy much higher than they wanted! By selling nito their fake buy walls.

So insted of them dumping in your faces around 43/45k area (since they bought it al up from 30/36 original. They have got a much higher buy in price around 37k and will have to now push it even further before (and they will hard) dump the price down.

(you will be happy to hear) I will not buy in. I honestly hope VRC goes to 100k ats. But because of everything that has happened, i feel this price is much harder to reach now.

Also it is about time more members here done more for the coin.

I made 2 videos promoting veribit,
Donated $100 for the bitcoin conference.
Bought a silver coin for $50 which half goes to the devs.
AND i donated 20k, twenty thousand,  (8 BTC value) Vericoins to Patrick.

Only a very small handful of people here have actually done something good for the coin.
The rest of you are lazy and do not want to work for your money.

So did I less the 20K..Smiley want to resell that silver coin of yours since you don't need it anymore? better still why don't you donate it to Verifund so it can be auctioned off?
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July 08, 2014, 07:36:18 AM
 #7135



^^^yourstruly^^^
MAD945
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July 08, 2014, 07:46:07 AM
 #7136

Look, hes sooooo sad that no ones paying attention to his FUD anymore. Soooo sooo sad....
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July 08, 2014, 07:51:03 AM
 #7137

Look, hes sooooo sad that know ones paying attention to his FUD anymore. Soooo sooo sad....

Look mommy, i make fud!

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
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July 08, 2014, 10:24:11 AM
 #7138

Sended my coins to my bittrex wallet...more then 30 confirms now, but no coins in my wallet. Even not a pending deposit Sad Any idea someone?

Need BadAss Bulletproof VPS or Bulletproof VPN or why not just mail safe with Safe-Mail. We care about your privacy.
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July 08, 2014, 10:30:59 AM
 #7139

Waiting for the android app + verisend :-) easy payments everywhere!
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July 08, 2014, 10:38:19 AM
 #7140

Sended my coins to my bittrex wallet...more then 30 confirms now, but no coins in my wallet. Even not a pending deposit Sad Any idea someone?

Is your wallet synced? Email bittrex support. Sometimes they are slow.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
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