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effectsToCause (OP)
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July 22, 2016, 10:21:19 PM |
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How much VRM will be available in Phase 2? Another 350k is available in second phase. If less than 3.5m VRC come in, then due to the 10 VRC/VRM minimum, less than 350k will be sold. In which case it will be even more scarce than 30x lower supply initially. Will take ~5 years minimum to reach 10x lower supply parity than VeriCoin via mining. So 10 VRC/VRM is also a very good deal for a very scarce reserve with a novel protocol. |
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SEABOND
Full Member
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Activity: 128
Merit: 100
http://tinyurl.com/pykjk93
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July 22, 2016, 10:37:36 PM |
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How much VRM will be available in Phase 2? Another 350k is available in second phase. If less than 3.5m VRC come in, then due to the 10 VRC/VRM minimum, less than 350k will be sold. In which case it will be even more scarce than 30x lower supply initially. Will take ~5 years minimum to reach 10x lower supply parity than VeriCoin via mining. So 10 VRC/VRM is also a very good deal for a very scarce reserve with a novel protocol. um, what is the difference between VRC and VRM? you can buy VRC from POLO but no VRM??  |
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effectsToCause (OP)
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July 22, 2016, 11:51:25 PM |
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VeriCoin wallet 1.6.5.1 now available: www.vericoin.info or "Check for Update" in wallet. This is a feature update which allows the import of Android wallet private keys into the desktop wallet. |
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effectsToCause (OP)
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July 22, 2016, 11:51:53 PM |
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How much VRM will be available in Phase 2? Another 350k is available in second phase. If less than 3.5m VRC come in, then due to the 10 VRC/VRM minimum, less than 350k will be sold. In which case it will be even more scarce than 30x lower supply initially. Will take ~5 years minimum to reach 10x lower supply parity than VeriCoin via mining. So 10 VRC/VRM is also a very good deal for a very scarce reserve with a novel protocol. um, what is the difference between VRC and VRM? you can buy VRC from POLO but no VRM?? See first page for details: https://bitcointalk.org/index.php?topic=602041.msg6633326#msg6633326 |
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HellSpawn.
Member
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Activity: 67
Merit: 10
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July 23, 2016, 12:20:28 AM |
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How much VRM will be available in Phase 2? Another 350k is available in second phase. If less than 3.5m VRC come in, then due to the 10 VRC/VRM minimum, less than 350k will be sold. In which case it will be even more scarce than 30x lower supply initially. Will take ~5 years minimum to reach 10x lower supply parity than VeriCoin via mining. So 10 VRC/VRM is also a very good deal for a very scarce reserve with a novel protocol. um, what is the difference between VRC and VRM? you can buy VRC from POLO but no VRM?? Me too what is VRM (verium) is a "fork" swap? |
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MAD945
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July 23, 2016, 01:12:11 AM
Last edit: July 23, 2016, 01:28:53 AM by MAD945 |
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Verium = Commodity(Gold) or Reserve - it will be heavy like gold(long transactions and not very useful as a currency but a store of value like gold, value will be through work by miners like Bitcoin)
Vericoin = Currency - will be able to be spent quickly and securely, Verium will be able to speed up Vericoin to up to 20 secs or more and securing Vericoin.
The best and simplest analogy I can think of is the old "Gold Standard" which gave the American dollar (Green Back) value. You would be able to trade your American dollars for its worth in gold and buy American dollars with gold. Now the American dollar isn't backed by anything but paper and we can see what's happened with its value.
Vericoin and Verium will be working on the same blockchain, Verium will be securing Vericoin through mining and speeding up transactions up to 20 secs. Vericoin will be able to be spent as currency with its speed and security. Verium will be able to be transferred instantly in wallet to Vericoin and vice a versa.
Verium will be a HARD Scrypt and will be CPU only, ASIC resistant for a long time and GPU Resistant.
Vericoin and Verium
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.
Verium and Vericoin will be it's own ecosystem
Hope that covers it.
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Elevated
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July 23, 2016, 03:52:05 AM |
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I'm having some difficulty understanding the phase 2 distribution language "18 days with 10 VRC/VRM minimum price OR your share of total VRC raised is your fraction of 350,000 VRM." Does this mean the amount of VRC accepted in phase 2 will be unlimited? And if so, wouldn't that make the buy-in price potentially far worse than 10 VRC/VRM?
Also, will VRM be on exchanges later, or only by swap in the wallet?
Thank you.
Yes it can be higher then 10-1. But that being said like @effectstocause said on the vericoin forum "Also I think 10:1 is already an implicit discount because the supply ratio between VRC and VRM at launch will actually be ~30:1 while mining brings it towards the final 10:1 supply ratio over time". Remember this is going to take YEARS!! I believe it will be a swap through wallet, but will be able to send to exchange as well Thank you both for the explanation! |
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SEABOND
Full Member
Offline
Activity: 128
Merit: 100
http://tinyurl.com/pykjk93
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July 23, 2016, 04:12:53 AM |
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Verium = Commodity(Gold) or Reserve - it will be heavy like gold(long transactions and not very useful as a currency but a store of value like gold, value will be through work by miners like Bitcoin)
Vericoin = Currency - will be able to be spent quickly and securely, Verium will be able to speed up Vericoin to up to 20 secs or more and securing Vericoin.
The best and simplest analogy I can think of is the old "Gold Standard" which gave the American dollar (Green Back) value. You would be able to trade your American dollars for its worth in gold and buy American dollars with gold. Now the American dollar isn't backed by anything but paper and we can see what's happened with its value.
Vericoin and Verium will be working on the same blockchain, Verium will be securing Vericoin through mining and speeding up transactions up to 20 secs. Vericoin will be able to be spent as currency with its speed and security. Verium will be able to be transferred instantly in wallet to Vericoin and vice a versa.
Verium will be a HARD Scrypt and will be CPU only, ASIC resistant for a long time and GPU Resistant.
Vericoin and Verium
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.
Verium and Vericoin will be it's own ecosystem
Hope that covers it.
cool, thank you |
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FANCIER
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July 23, 2016, 06:30:07 AM |
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Verium = Commodity(Gold) or Reserve - it will be heavy like gold(long transactions and not very useful as a currency but a store of value like gold, value will be through work by miners like Bitcoin)
Vericoin = Currency - will be able to be spent quickly and securely, Verium will be able to speed up Vericoin to up to 20 secs or more and securing Vericoin.
The best and simplest analogy I can think of is the old "Gold Standard" which gave the American dollar (Green Back) value. You would be able to trade your American dollars for its worth in gold and buy American dollars with gold. Now the American dollar isn't backed by anything but paper and we can see what's happened with its value.
Vericoin and Verium will be working on the same blockchain, Verium will be securing Vericoin through mining and speeding up transactions up to 20 secs. Vericoin will be able to be spent as currency with its speed and security. Verium will be able to be transferred instantly in wallet to Vericoin and vice a versa.
Verium will be a HARD Scrypt and will be CPU only, ASIC resistant for a long time and GPU Resistant.
Vericoin and Verium
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.
Verium and Vericoin will be it's own ecosystem
Hope that covers it.
https://vericoinforums.com/threads/explaining-verium-information.1331/ |
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Cryptonitex
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July 23, 2016, 07:25:28 AM |
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sounds awesome
So will verium be in any exchange, or only accept vrc
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effectsToCause (OP)
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July 23, 2016, 11:09:06 AM |
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sounds awesome
So will verium be in any exchange, or only accept vrc
We are going to work on getting a VRC/VRM trade pair on exchanges, bittrex is interested in working that out with us so far. Exchanges may also do VRM/BTC pairs, but our focus is to get VRC/VRM pairs. |
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effectsToCause (OP)
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July 23, 2016, 02:17:03 PM |
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A cool thing regarding the VRC/VRM market is you have to add value to get into VRC or VRM, via buying or mining, but you don't have to take value to get out via VRC/VRM pair. Not that majority will do this but the fact that the option to not take value exists at all in a exit, is significant.
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MAD945
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July 23, 2016, 08:11:44 PM |
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A cool thing regarding the VRC/VRM market is you have to add value to get into VRC or VRM, via buying or mining, but you don't have to take value to get out via VRC/VRM pair. Not that majority will do this but the fact that the option to not take value exists at all in a exit, is significant.
Interesting, will defiantly be different then other markets  |
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souljah1h
Legendary
Offline
Activity: 1092
Merit: 1000
Hyperspace snail
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July 23, 2016, 09:53:00 PM |
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_@/'
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alexxynn
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July 24, 2016, 11:40:45 AM |
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Where it is possible to look at the list of participants of Phase 1?
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RJF19
Sr. Member
Offline
Activity: 420
Merit: 250
AKA RJF - Since '14 - On line since '84
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July 24, 2016, 12:50:48 PM |
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Whats on the drawing board for AFTER phase 2 in terms of development?
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Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time. Thomas A. Edison
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Cryptonitex
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July 24, 2016, 07:59:59 PM |
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Whats on the drawing board for AFTER phase 2 in terms of development?
If you have any ideas, join the forums and you can suggest some things to the developers. |
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MAD945
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July 24, 2016, 08:34:14 PM |
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Whats on the drawing board for AFTER phase 2 in terms of development?
After Verium release, Vericoin 2.0, Decent. Usernames and Decent. Anon(new tech), 2FA Thresher(an original approach to 2FA), Transactions with comments and more that we can't talk about  |
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