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

[souljah1h]

Keep up the great work guys! Glad to see the results from the first few public voting forms have been decided and so far looks like everything is going real smooth for the Verium ICO. Should be a fun 3 weeks leading up to it =)

Totally agree with you!

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[yelllowsin]

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 here we gooo o/

[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.

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 here we gooo o/

Welcome to Vericoin! 

[testbug]

Hi Vericoin team :-)
I see you are doing a great work
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 )
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

Keep up the good work and let's VRC skyrocket !!

[TrueAnon]

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]

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]

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]

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]

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]

Stake Weight pretty high at the moment!

[ctrent33]

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

[pnosker]

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.

[pnosker]

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/

[BTC_Grinch]

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

[Lowryda23]

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

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]

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

[coinbuyer2580]

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?

[Bl4ckw00d]

Just read everything I could find about Verium.  I now have a new interest in VRC .  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]

Just read everything I could find about Verium.  I now have a new interest in VRC .  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 

[souljah1h]

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.