[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released

[souljah1h]

Good news, so far only getting 100% hardware errors on 280x due to lack of memory on system and card for Verium hashing.  CPU hashing is by far most efficient in testing so far.

Thats great news!

[a fool and his money ...]

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

[warr1979]

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.

[a fool and his money ...]

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.

what will be annual inflation after ico? Is there a writeup somewhere with specs? Is it sidechain, merged chain or independant chain?

[warr1979]

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.

what will be annual inflation after ico? Is there a writeup somewhere with specs? Is it sidechain, merged chain or independant chain?

No inflation it's a PoWT commidty go on the vericoin forums there's tons of information there's a google hangout on YouTube as well.

[a fool and his money ...]

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.

what will be annual inflation after ico? Is there a writeup somewhere with specs? Is it sidechain, merged chain or independant chain?

No inflation it's a PoWT commidty go on the vericoin forums there's tons of information there's a google hangout on YouTube as well.

'no inflation' sounds interesting. You got a link for me, please? I was looking around the forum but somehow was unable to find it. No sticky post?

[souljah1h]

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.

what will be annual inflation after ico? Is there a writeup somewhere with specs? Is it sidechain, merged chain or independant chain?

No inflation it's a PoWT commidty go on the vericoin forums there's tons of information there's a google hangout on YouTube as well.

'no inflation' sounds interesting. You got a link for me, please? I was looking around the forum but somehow was unable to find it. No sticky post?

Start reading this https://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf

[pnosker]

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.

what will be annual inflation after ico? Is there a writeup somewhere with specs? Is it sidechain, merged chain or independant chain?

No inflation it's a PoWT commidty go on the vericoin forums there's tons of information there's a google hangout on YouTube as well.

'no inflation' sounds interesting. You got a link for me, please? I was looking around the forum but somehow was unable to find it. No sticky post?

Start reading this https://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf

No inflation is not correct. Verium will be inflationary. The annual inflation is not determinable due to variable block time, but the mining schedule will be set to last over my lifetime with no halving like Bitcoin in the traditional sense. Reduced supply is included in the PoWT mechanism where faster blocks generate smaller rewards.

The ICO will distribute up to 750K coins (roughly 2.5% of VRC generated on launch) with a target total number of coins to follow VRC's distribution divided by 10. So with 27M VRC coins, VRM will target 2.7M. As VRC expands to 30M for example, VRM will target 3M coins.

[souljah1h]

How is Verium helping Vericoin?

-High fees enable secure mining in PoW
-Low fees enable valuable currency, in PoS fees can be low because staking is near costless

So a more valuable commodity and a more valuable currency is possible in those opposite cases. Security and decentralization is increased with mining and staking, but the fee structures have opposite effect.

Also variable block time secures mining and any blocks coming into VRC from VRM speeds transactions.

So in short you get more security, faster transaction times and lower fees in VeriCoin the currency through Verium the reserve commodity. This makes VeriCoin a more valuable currency.

https://www.vericoinforums.com/threads/explaining-the-verium-vericoin-relationship.1330/#post-19271


From the VRC side: VRM miners will be able to mine VRC blocks using AuxPOW once it's turned on. We won't be turning it on in the initial days while we optimize VRM, but it will be enabled once we finish Aux testing.

VRM doesn't depend on VRC necessarily, but because we will have an equivalent system to VeriBit (VRM->VRC and VRC->VRM), it will initialize an ecosystem. Also because VRC will be much easier to spend (faster, lower fees) than VRM, it will make sense for VRM users to use VRC as a currency.

VRM will be the mined asset. VRC will be the dollar bills.

https://www.vericoinforums.com/threads/explaining-the-verium-vericoin-relationship.1330/#post-19273

[golfhuso]

Is there bounty? 

[souljah1h]

Is there bounty?  

Just kidding

Nothing set in stone. There was some talk about the top 250 holders being rewarded (for securing the network).

[pnosker]

Is there bounty? 

What kind of bounty? We are raising funds for bounties for various tasks to be completed.

[SwedishGirl]

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.

[chunkyjunkie]

Have vericoins.com

Entertaining offers.

[warr1979]

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

[effectsToCause]

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.

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

-ASIC and GPU resistant due to memory hardness.

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.

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

[dbstmddhks]

It's really good..

Two blockchain to enforce each other !

[monsanto]

It's really good..

Two blockchain to enforce each other !

Three if you include the one that forked a while ago 

[verb]

Seems we're heading for 10k. How are you marketing the upcoming ICO? Did you think about writing a few posts on Medium? Maybe set a small marketing fund and advertise on The Viral Exchange?

[Majormax]

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 ?