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

[Monkeys]

How bout a monthly bonus of extra interest for referrals?

this could be easily implemented and cost effective

Cost effective for whom, Vericoin or the referrer? It needs to be a nice balance between keeping the inflation low with VRC, which isn't much of a problem since 2.3% is already very low. Anything below 3.5% is acceptable IMO.

It would really only cause extra inflation during the expansion phase of the coin anyways. 5-10 years down the track, once it has been established, it could be abolished.

cost effective for Vericoin maybe give like one day of double Interest per refferal that would keep the overall inflation rate in line with original projections and give the added incentive

I personally think it shouldn't necessarily be tied to interest, as that only rewards big bag holders.

You want the little guys, with little wallets, to be sharing it to their friends too. Which is why I think a fixed reward of 5-10 VRC per referral would be good.

I think the interest incentive would be better for merchants, as they could then be given an incentive to hold their VRC, rather than dumping straight back in to BTC or FIAT.

For example, a merchant that conducts a lot of transactions could be given double interest for a set period of time for each transaction, or something similar.

[barabbas]

Keeping the perspective (2)

Mostly for those new bagholders, the crying ones, that were counting in quickly trading for a profit of 6-10,000  sat and are now holding a significant bag with a 1/3 deficit and the shout continuously on the forum for devs to perform magic and take the price back to 35+:

--1, Pinkcoin lost 50% of its value in the same period even after announcing the names of ALL their devs and, especially, the leader of them, a star of the       World Poker Tour.

--2, Blackcoin has suffered -and continue suffering, still at the lows of many, many months- even worse dumping than VRC, with no rebound yet -as opposed to the 50% rebound, already, on VRC. In spite of a slew of announcements, including additional "members of the team", a very successful appearance at the Chicago convention -where they were "... by far the both more visited"-; direct contacts about integration with PayPal, actual offer of minimal investment by Intel (all of this according to the propaganda of BC, it could be exaggerated), Black Halo launching, Market announcement -everyone under the sun is announcing decentralized exchanges... that's why the investment community doesn't put any real value on any of that- AND an investment in PR of at least $32,000 with the Max Borgess Agency that so far, 60 of the 90 days it's bound to last, has only [produces a press release, a small article somewhere and a Q&A with an employee of the MBA--- if they would have directly bought media with those $32k, they could have had dozens of full page articles printed by tens of publications around the globe--- IF they would invest those $32k today in Blackcoin, they could probably buy the entire sell book up to 35k sat or higher--- no wonder the hiring of the MBA is widely considered to have made BC the laughing stock of the crypto community.

--3, Nautiluscoin, the coin with a built-in Stabilization Fund, by Wall Street eagle and deep crypto currencies connosieur, Brian Kelly, has lost, for no apparent reason whatsoever, 2/3s of its value in less than the same period -actually in MUCH less-.

There could be several macro-economic considerations made about the slump on these coins, VRC and several others I have not listed because they are less established, or prominent. Take your pick about what you feel could be the cause. But it is not because those coins have had any kind of news or circumstances that in any remote way could be the cause of the sell offs. It's simply not what has happened. Therefore, the only thing that has changed in those coins, is the price in the markets, nothing else. If you believed in them at double or even triple the price, there's not a single reason for you not to believe in them not at the probable bargain-basement price. And, needless to say, the devs have nothing to do with the slump either.

Like it or don't like it. Buy it or sell it. But your VRC is the same that was a few weeks ago when the price was in the high 40s. If anything, way stronger. If you want to make a point of reference of the rollback date, the coin reached the mid 30s, so no reason at all to not trust what you trusted and more than 60% above the current price. If anything, VRC is way stronger now than it ever was, tested as it has been, against a relentless dump and a clear panic phase.

As everyone knows, I have many criticisms and a considerable hub of ideas as to many things I would like to be done/implemented in VRC. But that doesn't hinder, not one bit, my confidence in the potential of this coin due to the main assets that have been solidified during the recent crisis: The dev team, in spite of their considerable shortcomings, and the community and especially the main stakeholders, those who keep the staking above 10 million VRC and the exchanges filled with 4-6 million or more that they will not sell under 20, under 25 and maybe even under 30, 35 or 40. Those are fucking solid assets that I'd be willing to bet against any other project in cryptoland, with similar distribution %wise. Nothing, as long as those assets remain committed, can stop this coin from success. Nothing.

And if the flow of ideas is followed by implementation of the best ones, and a clear path towards the main objective, this will indeed be the first altcoin to reach mainstream, no question about it.

And that is why, at the moment, I am  invested in VRC way more heavily than I ever thought I would be.

[Monkeys]

Absolutely with you there Barrabas.

As a recent bagholder of VRC I am feeling the pain as much as anyone. While I don't expect the devs to come running in here to save the day, it would be nice if they would at least participate in some constructive discussions such as those that have been had here today (perhaps even helping to stabilize the price?).

This would give myself and other potential investors some assurance that the devs are indeed committed to listening to the community, and innovating and pushing forward with the new ideas.

So far the input I've seem from them has been vague at best. I'm sure they are busy etc, but if people are to trust in them and their capacity and focus, they need to tell us something. Not asking for deadlines or anything concrete, just take part on the discussion. Show us WHY they are more equipped to make the right choices.

This forum, like it or not, is the front page for Vericoin, the website is pretty, but there's nothing there. This forum is what people look at, if we can fill this forum with constructive, positive information then people will see that and respond accordingly.

[Bobsurplus]

https://twitter.com/EMC2Whale/status/492557948250357761

LMAO!

[Monkeys]

Just to clarify my comment.

It is likely coincidence, but has anyone noticed that the price has stabilized since the discussions here turned from nonsense and FUD, to actual real constructive intelligent discussion?

Coincidence, probably. But it certainly couldn't hurt to show some more professionalism and intellect in here.

If I was a potential investor and I came here to read what has been going on the last few weeks, that would be it for me. Would not give it another thought.

[Monkeys]

And always remember, don't feed the trolls.

[socal]

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

[Monkeys]

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

It would be funded by the coin itself of course.

5 VRC per referral is not much when you think about it. Even 100,000 referrals is only 500k VRC, roughly 2.5% of the current supply. It would barely affect inflation at all.

I highly doubt that VRC would see that number of referrals within a single year, especially at the beginning. Also that figure could be scaled as VRC grows. Currently it's worth roughly $.2 per VRC, so 5 VRC would be a. $1 bonus. Scale that number accordingly as VRC grows, and the incentive is still there, while keeping inflation to a minimum.

This is the way to grow the coin.

[CodeHunter]

Just to clarify my comment.

It is likely coincidence, but has anyone noticed that the price has stabilized since the discussions here turned from nonsense and FUD, to actual real constructive intelligent discussion?

Coincidence, probably. But it certainly couldn't hurt to show some more professionalism and intellect in here.

If I was a potential investor and I came here to read what has been going on the last few weeks, that would be it for me. Would not give it another thought.

The fudders come here when there's action in the VRC market. They've calmed down now because VRC found a bottom.

[barabbas]

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

Why don't you just eliminate  what "some might think" and tell everybody how much, exactly, you make per coin? That would eliminate the speculation right off the bat.

But answering your initial question, if people want initiatives done, people have to have those initiatives funded. If  a "fund" must be established per project or use the Verifund to cover all, it is only the community that has to put up and fund them. It is quite off-putting and not conducive to donations when there are no projects that require funding, but it would be shortchanging very unfairly this community when in a space of hours it provided the more than $3,000 that were asked for to get the dev team to be at the Chicago conference. This community demonstrated then, and will show many times in the future, that will ge more than generous to fund, widely, any project or program that is supported by a considerable amount of that community. Once again, besides the dev team, the biggest asset of this project is the community that supports it.

Sorry to burst your bubble but you are dealing with pocket change. This is a $5 million plus current value project (or thereabouts). That is serious money. That is a serious project. And the stakeholders will do whatever they believe is necessary or convenient to take that serious investment to achievable and much, much higher levels. The community just needs to know what is needed and for what.

[cryptodevil]

On another note, how about some nice pics of VeriBit being used to withdraw GBP from a Bitcoin ATM in London?

Flight Tickets purchased via Cheapair with Bitcoin
Hotel room booked and paid via Expedia with Bitcoin

GBP to cover trip expenses, withdrawn via Android Vericoin wallet, through VeriBit.



KaCHing!!!

Thanks Vericoin, you saved someone's bacon when they were left high and dry by a late paying client.

[Monkeys]

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

Additionally, the value gained from the distribution of the coin to a wider number of people, and the exponential increase and use of the coin would FAR FAR outweigh any effects that the impact of the increased inflation might have on the coin.

Controlled inflation is not a bad thing, inflation has gotten a bad rep by bad management by governments and central banking authorities around the world. Inflation directed in the right places, rewarding self regulating growth of a currency, especially during the establishment period would have knock on effects of continued growth and broader use that would make the tiny payouts of the referral rewards insignificant.

Once implemented, the referral program would result in something in the order of 2-3 new users per referral. So for a 100,000k referral payout, you might see close to half a million Vericoin users.

Trust me, this is the way forward.

Also, if Vericoin wont do it. I will..

[Monkeys]

On another note, how about some nice pics of VeriBit being used to withdraw GBP from a Bitcoin ATM in London?

Flight Tickets purchased via Cheapair with Bitcoin
Hotel room booked and paid via Expedia with Bitcoin

GBP to cover trip expenses, withdrawn via Android Vericoin wallet, through VeriBit.



KaCHing!!!

Thanks Vericoin, you saved someone's bacon when they were left high and dry by a late paying client.

That is the best implementation I have ever see of Verbit.

Great work =)

[Monkeys]

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

Additionally, the value gained from the distribution of the coin to a wider number of people, and the exponential increase and use of the coin would FAR FAR outweigh any effects that the impact of the increased inflation might have on the coin.

Controlled inflation is not a bad thing, inflation has gotten a bad rep by bad management by governments and central banking authorities around the world. Inflation directed in the right places, rewarding self regulating growth of a currency, especially during the establishment period would have knock on effects of continued growth and broader use that would make the tiny payouts of the referral rewards insignificant.

Once implemented, the referral program would result in something in the order of 2-3 new users per referral. So for a 100,000k referral payout, you might see close to half a million Vericoin users.

Trust me, this is the way forward.

Also, if Vericoin wont do it. I will..

I'm actually not joking when I say that I will create what Vercoin could be and more if Vericoin won't do what needs to be done.

I'm all aboard the Vericoin train, but if it's not headed where it needs to go, I'll build my own, smaller but faster =)

Anyways, lets keep the discussion going!

[XbladeX]

...
-- 2, Blackcoin has suffered -and continue suffering, still at the lows of many, many months-
even worse dumping than VRC, with no rebound yet -as opposed to the 50% rebound, already, on VRC.
...

LIE MORE... In real there was 2 pump waves... open eyes and see patterns...

to be fair... i don't lie in VRC.

VRC coin like any other can go up...(small PR problem will be rollback but...)
Year later no one will remember probably! Like none remember BTC,LTC fails...
VRC Value will be proportional to work putted into coin and quality of community around it...

PS: barabbas GFTO from BC if you want kep BS keep close facts ok - but don't lie "many, many months"...!

[ezimedia]

This either must be a joke and these three guys have no idea what they are doing or this a very nicely orchestrated scam with the sole purpose of making US$ 300K-400K and let ppl hold the bag.

You hit the nail on the head. This is a classic case of IT people gone awry. They have no clue what they are doing from a marketing standpoint. I've voiced my opinion on this many times in this chat forum but making the educated decision to present both Wiz and Socal as part of the team has been detrimental to their success.

Also PNosker continuously saying "we don't care about price", "we don't care about traders" is just plain stupid. Either they truly don't care about making money (which seems crazy to me but is plausible) or they don't realize how to run a publicly traded piece of equity, like an altcoin.

IMHO we have the classic case of a team of developers with all the books smarts and none of the street smarts.

Would you like to volunteer? We never said we were marketing geniuses. In fact, we asked for someone to help manage this early on and sdmathis volunteered to be a community manager, but we really need more.

I said we don't care about price in the sense that we will not release news/features specifically to manipulate price. I make enough money to live reasonably without crypto so I don't need to sell off when the coin starts tanking. Doug/David/I all are in the same boat. We're doing this not as unemployed developers looking to make a quick buck but because we saw a void between crypto and the real world and we wanted to fix it. Play the blame game all you want and feel free to speculate more, but we're doing what we can do and if you or someone else wants to help us push with marketing we would really appreciate it. If you honestly think there's a better coin with better real developers and marketing perhaps you can direct us to their information so we can see if we can adapt better. Almost all I see when I look at the selection of coins are scams, developers that have a Google Hangout and curse off investors, etc.

We are real people trying to build a real coin and ecosystem. Believe it or not, it's up to you.

would it be a good idea for members here to write free articles about crypto currency and then submit them to all the free article directories... just put a link in the bottom of the article linking to vericoin.info , now if everyone would just write 1 article and submit that to all the article directories online that would bring a lot of new eyes on to this coin and others.. and get more people in to crypto...  it is free to submit article to article directories.. and you could even add your vrc address in it or you btc address in it...

That also is true for press releases... I know you can hire a person from a site like freelancer.com for maybe $50-$100 to write a press release and then submit that to all the press release sites on the net.. there are many just like there are many article directories... maybe we could make a source/marketing html page we could add to vericoin.info so people here know the places they can promote vericoin on..

With such a huge community here and we all want the coin to grow in value , and to do that we need to bring in more people in to crypto and get the word out about vrc....

I do not have money to hire people to make articles or press releases... but I can write some myself and will do... and will submit them to all the sites I know of...

But if we had a vrc marketing pool fund... and people post marketing ideas... maybe we could get something going..
There is no need to hire a pr firm... the money you spend on one we could get a lot of better value from ourself...

also what about if we find a company to print mass vrc bumper stickers.. we could all put them on the back of hour cars... while we drive to and from work..

so many ideas.. to promote this coin.. and most of it can be done for cheap or even free...

don't worry about the price dropping cause that is a bonus for everyone here right now.. as you can get more coins for less...

If the community would market the coin a bit each week it would go along way...

so what do you all think...

[Monkeys]

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

Why don't you just eliminate  what "some might think" and tell everybody how much, exactly, you make per coin? That would eliminate the speculation right off the bat.

But answering your initial question, if people want initiatives done, people have to have those initiatives funded. If  a "fund" must be established per project or use the Verifund to cover all, it is only the community that has to put up and fund them. It is quite off-putting and not conducive to donations when there are no projects that require funding, but it would be shortchanging very unfairly this community when in a space of hours it provided the more than $3,000 that were asked for to get the dev team to be at the Chicago conference. This community demonstrated then, and will show many times in the future, that will ge more than generous to fund, widely, any project or program that is supported by a considerable amount of that community. Once again, besides the dev team, the biggest asset of this project is the community that supports it.

Sorry to burst your bubble but you are dealing with pocket change. This is a $5 million plus current value project (or thereabouts). That is serious money. That is a serious project. And the stakeholders will do whatever they believe is necessary or convenient to take that serious investment to achievable and much, much higher levels. The community just needs to know what is needed and for what.

The Verifund,in my humble opinion, is not that great of an idea. It would be much better if the community, and the coin itself, would fund its own growth. Like my referral program idea, if that is just built in to the inflation targets for the coin itself, NOBODY is out of pocket. I mean NOBODY. The growth of the total market cap generated by the growth of the coin would FAR FAR outweigh any effects of inflation of the coin. The infaltion would be directed at those who are promoting the growth of the coin, causing a knock on effect of more and more growth. This could be continued until the coin has reached a stage where it has grown enough that there would no longer be a need for referral rewards, and could be abolished.

Show me another coin that has any in built mechanism for promoting growth and expansion of the coin (other than the few scam / pyramis scheme coins)? Show me another coin that has verification as an option?

If Vericoin can implement just these two things, it would be game over for any other coins. Forget the fiat wallet, that's a tiny gimmick compared to the consequences of verification and self regulated growth and expansion from referrals.

Tell me why that is wrong? I challenge anyone to tell me why this would not result in ANY coin growing faster, and being accepted by mainstream users faster than any other coin ever will?

[XbladeX]

...
Show me another coin that has any in built mechanism for promoting growth and expansion of the coin (other than the few scam / pyramis scheme coins)? ...

Okey:
I know good coins and no scams here you go:

1st Devcoin- 90% minig goes to Devs
https://bitcointalk.org/index.php?topic=233997.0

2nd Memorycoin2.0 - "Memorycoin also devotes a proportional amount of coins to be used by developers."
https://bitcointalk.org/index.php?topic=598187

POW - coins so no pyramid... (no POS so no hyped to much)

[Monkeys]

...
Show me another coin that has any in built mechanism for promoting growth and expansion of the coin (other than the few scam / pyramis scheme coins)? ...

Okey:
I know good coins and no scams here you go:

1st Devcoin- 90% minig goes to Devs
https://bitcointalk.org/index.php?topic=233997.0

2nd Memorycoin2.0 - "Memorycoin also devotes a proportional amount of coins to be used by developers."
https://bitcointalk.org/index.php?topic=598187

POW - coins so no pyramid... (no POS so no hyped to much)

Sorry, I am guessing English in not your first language. But I don't really understand what you are saying.

Both of those coins sound like scams to me. I mean 90% mining goes to devs = scam.

I dont really see how Memorycoin 2.0 is relevant to my quesiton either.

I appreciate your input. But I was 'referring' (no pun intended) to any other coins with an inbuilt referral program to for self generating growth?

[ezimedia]

I wonder if we could all email.... www.vrc.com and ask them to accept vrc or btc as a payment option...

Then domain vrc.com redirects to http://www.vikingrivercruises.com.au/

I bet in the future there will be people typing in vrc.com in to their web browser and they would come to that site....

How cool would it be if they accept VRC as payment or BTC