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

[Xosihc]

http://vrcstake.ticonerd.com/ went trough the roof lol

why is the 24 high at 28M when total coins is only 26M?

i would like to know that too

Because the staking network != coins in circulation. There is a greater weight to the number of coins the longer they have been staking. So in theory (and now reality) coins staking >= coins in circulation

[effectsToCause]

http://vrcstake.ticonerd.com/ went trough the roof lol

why is the 24 high at 28M when total coins is only 26M?

i would like to know that too

Yeah the stake is not directly coins. It's a coin weight that includes coinage (time since last earned interest for each coin). It's essentially normalized including coinage and is close to the total coins staking but a bit more complex. Nonetheless this is some historic staking for POS I suspect and is near the realistic maximum. Impressive show of community strength!  Kudos to all you guys! Go VeriCoin! 

[Xosihc]

aaaaaaaand here comes a dump =p

[yoshiwatusi]

http://vrcstake.ticonerd.com/ went trough the roof lol

why is the 24 high at 28M when total coins is only 26M?

i would like to know that too

Yeah the stake is not directly coins. It's a coin weight that includes coinage (time since last earned interest for each coin). It's essentially normalized including coinage and is close to the total coins staking but a bit more complex. Nonetheless this is some historic staking for POS I suspect and is near the realistic maximum. Impressive show of community strength!  Kudos to all you guys! Go VeriCoin! 

what is the possible maximum stake..just curious.. so i can better understand staking

[yoshiwatusi]

seriously, would the devs allow the coin to go under 10k SAT?

[rn4j0r]

threw 2 MH/s scrypt to pool.vericoin.info

Anyone know how long it will take @ that hash rate to see my first coins?

When you have mined 1 VRC and based on OBA could take one or 2 days for payment comes in.

Thank you!

[Bobsurplus]

seriously, would the devs allow the coin to go under 10k SAT?

How could the devs stop it? Besides rolling back of course.

[XbladeX]

seriously, would the devs allow the coin to go under 10k SAT?

When you will understand that coin price is not dev responsibility but community.
Community need to create services/startups where you will use VRC and create REAL volume.
while dev responsibility is to keep coin safe and bugs free (for me he is dong his job fine )

Do you know why BTC is keeping that high price because thousands of businesses is relaying on BTC
from mining stuff - to arbitrage services - shops - blackmarkets - minig contracts - exchanges.
Those services are creating BTC true demand and demand is that what makes it price high.

Sooner you will wake up and and understand that is better for you.
Coin features - nice thing but you have to face with that in every next month new coin can go out
with 2x better features than you have ( DRK and anon race ).
(POS- Bithares 10s 1st block full confirmation technology decentralized system
while all PPC forks have centralized checkpoints today (BC XC VRC Cloak and rest )

[sdmathis]

seriously, would the devs allow the coin to go under 10k SAT?

The devs don't control the price.

[aragoon]

Who is playing with VRC buy / sell? Some people really manipulating price. 

[socal]

Who is playing with VRC buy / sell? Some people really manipulating price.  

Yes this has been happening the past two weeks or so either whales accumulating or a well funded attack trying to kill VRC by artificially suppressing the price either way all we have to do is buy out the manipulators and NOT DUMP and there will be a clear shot back up.


EDIT:

Just something to think about if you take the time to dig back through the posts and the market graphs you will see a well coordinated FUD attack that coincided with the drop in price and subsequent suppression. That tells me there's either some big whales that know this is a good coin and wanted in cheap OR bag holders from other coins that want to see VRC fail because we threaten them.

[barabbas]

http://vrcstake.ticonerd.com/ went trough the roof lol

why is the 24 high at 28M when total coins is only 26M?

i would like to know that too

Yeah the stake is not directly coins. It's a coin weight that includes coinage (time since last earned interest for each coin). It's essentially normalized including coinage and is close to the total coins staking but a bit more complex. Nonetheless this is some historic staking for POS I suspect and is near the realistic maximum. Impressive show of community strength!  Kudos to all you guys! Go VeriCoin!  

Hey Doug, at the end pf the day you are going to have to explain this a whole lot more clearly so EVERYONE can understand because right now, before the end of the day, this is starting to sound suspiciously, very suspiciously, like a whole lot of CRAP.

How can a coin that has a max of less than 26 mill coins, all already mined during the POW stage, has now 28 million coins STAKING? This is preposterous. Everyone knows that there are A LOT of coins still NOT STAKING and lying on the exchanges (I know I have quite a few and they are not staking a single VRC), so how the heck can so many coins be staking? An understandable answer, without ANY bull shit, is required rather immediately, long before the end of the day, ok?

[barabbas]

EVERY ONE THE NETWORK STAKE IS NOT THE SAME AS THE AMOUNT OF COINS STAKING THAT IS JUST THE "STAKE WEIGHT" OF THE NETWORK

I hope this cleared up any confusion.

Posting again

Nope, this doesn't clear anything. How many COINS are staking? Plain and simple. And what the heck is "stake weight" of the Network?

[Xosihc]

EVERY ONE THE NETWORK STAKE IS NOT THE SAME AS THE AMOUNT OF COINS STAKING THAT IS JUST THE "STAKE WEIGHT" OF THE NETWORK

I hope this cleared up any confusion.

Posting again

Nope, this doesn't clear anything. How many COINS are staking? Plain and simple. And what the heck is "stake weight" of the Network?

I have to completely agree with barabbas on this one. The two questions I have, that I think the public should get clear answers to are:

1. How is staking weight calculated.

2. How is interest calculated from a compounding point of view. What I mean by this is the fact ScottAllyn I believe it was today was explaining how there is actually an advantage to having your wallet connected to the network 24/7 vs. connecting to the network once a month or once a year due to compounding interest. Well what is the calculation we can follow to determine what that payout would be? For example if I started the year with 100,000 coins and simply connected my wallet to the network 1 year later at an average interest rate of 2.25% I would clearly have: 100,225 coins. How many coins I would end up with though if I connected my wallet once a month vs. once a week vs. 24/7. Obviously this is all written in the code somewhere so there is a reference point to all of this. I'm not asking Socal this (no offense) or any other BTCtalk supporters - I think this should be answered by the devs themselves.

*Edit: the reason I ask question #2 is because at some point the math would determine when it becomes worth while to compound your interest 24/7 vs. yearly. It would be nice as an investor to know these equations as well as the numbers involved so I can make an educated decision on what to do. The followup answer I got today in the IRC channel was "well if you have a lot of coins it's probably worth while". Instead of trying to guess what "a lot of coins" is, I would rather know the exact number.

[socal]

EVERY ONE THE NETWORK STAKE IS NOT THE SAME AS THE AMOUNT OF COINS STAKING THAT IS JUST THE "STAKE WEIGHT" OF THE NETWORK

I hope this cleared up any confusion.

Posting again

Nope, this doesn't clear anything. How many COINS are staking? Plain and simple. And what the heck is "stake weight" of the Network?

I have to completely agree with barabbas on this one. The two questions I have, that I think the public should get clear answers to are:

1. How is staking weight calculated.

2. How is interest calculated from a compounding point of view. What I mean by this is the fact ScottAllyn I believe it was today was explaining how there is actually an advantage to having your wallet on 24/7 vs. turning it on once a month or once a year due to compounding interest. Well what is the calculation we can follow to determine what that payout would be? For example if I started the year with 100,000 coins and simply turned my wallet on 1 year later at an average interest rate of 2.25% I would clearly have: 100,225 coins. How many coins I would end up with though if I turned my wallet on once a month vs. once a week vs. 24/7. Obviously this is all written in the code somewhere so there is a reference point to all of this. I'm not asking Socal this (no offense) or any other BTCtalk supporters - I think this should be answered by the devs themselves.

None taken I'll let the devs answer this one in depth since you requested it Xosihc, but I just want to point out that it is currently 1am for the Devs so there's a good chance they are asleep right now but I will text them tomorrow and request a more thorough explanation.

[Xosihc]

EVERY ONE THE NETWORK STAKE IS NOT THE SAME AS THE AMOUNT OF COINS STAKING THAT IS JUST THE "STAKE WEIGHT" OF THE NETWORK

I hope this cleared up any confusion.

Posting again

Nope, this doesn't clear anything. How many COINS are staking? Plain and simple. And what the heck is "stake weight" of the Network?

I have to completely agree with barabbas on this one. The two questions I have, that I think the public should get clear answers to are:

1. How is staking weight calculated.

2. How is interest calculated from a compounding point of view. What I mean by this is the fact ScottAllyn I believe it was today was explaining how there is actually an advantage to having your wallet on 24/7 vs. turning it on once a month or once a year due to compounding interest. Well what is the calculation we can follow to determine what that payout would be? For example if I started the year with 100,000 coins and simply turned my wallet on 1 year later at an average interest rate of 2.25% I would clearly have: 100,225 coins. How many coins I would end up with though if I turned my wallet on once a month vs. once a week vs. 24/7. Obviously this is all written in the code somewhere so there is a reference point to all of this. I'm not asking Socal this (no offense) or any other BTCtalk supporters - I think this should be answered by the devs themselves.

None taken I'll let the devs answer this one in depth since you requested it Xosihc, but I just want to point out that it is currently 1am for the Devs so there's a good chance they are asleep right now but I will text them tomorrow and request a more thorough explanation.

Oh definitely - I don't need this answered tonight, or even tomorrow really (being that it's Sunday). But at some point it would be nice to know.

[socal]

EVERY ONE THE NETWORK STAKE IS NOT THE SAME AS THE AMOUNT OF COINS STAKING THAT IS JUST THE "STAKE WEIGHT" OF THE NETWORK

I hope this cleared up any confusion.

Posting again

Nope, this doesn't clear anything. How many COINS are staking? Plain and simple. And what the heck is "stake weight" of the Network?

I have to completely agree with barabbas on this one. The two questions I have, that I think the public should get clear answers to are:

1. How is staking weight calculated.

2. How is interest calculated from a compounding point of view. What I mean by this is the fact ScottAllyn I believe it was today was explaining how there is actually an advantage to having your wallet on 24/7 vs. turning it on once a month or once a year due to compounding interest. Well what is the calculation we can follow to determine what that payout would be? For example if I started the year with 100,000 coins and simply turned my wallet on 1 year later at an average interest rate of 2.25% I would clearly have: 100,225 coins. How many coins I would end up with though if I turned my wallet on once a month vs. once a week vs. 24/7. Obviously this is all written in the code somewhere so there is a reference point to all of this. I'm not asking Socal this (no offense) or any other BTCtalk supporters - I think this should be answered by the devs themselves.

None taken I'll let the devs answer this one in depth since you requested it Xosihc, but I just want to point out that it is currently 1am for the Devs so there's a good chance they are asleep right now but I will text them tomorrow and request a more thorough explanation.

Oh definitely - I don't need this answered tonight, or even tomorrow really (being that it's Sunday). But at some point it would be nice to know.

lol I spoke too soon as soon as I posted that Doug joined IRC so I passed along your question

EDIT:

Dev post incoming 

[Xosihc]

EVERY ONE THE NETWORK STAKE IS NOT THE SAME AS THE AMOUNT OF COINS STAKING THAT IS JUST THE "STAKE WEIGHT" OF THE NETWORK

I hope this cleared up any confusion.

Posting again

Nope, this doesn't clear anything. How many COINS are staking? Plain and simple. And what the heck is "stake weight" of the Network?

I have to completely agree with barabbas on this one. The two questions I have, that I think the public should get clear answers to are:

1. How is staking weight calculated.

2. How is interest calculated from a compounding point of view. What I mean by this is the fact ScottAllyn I believe it was today was explaining how there is actually an advantage to having your wallet on 24/7 vs. turning it on once a month or once a year due to compounding interest. Well what is the calculation we can follow to determine what that payout would be? For example if I started the year with 100,000 coins and simply turned my wallet on 1 year later at an average interest rate of 2.25% I would clearly have: 100,225 coins. How many coins I would end up with though if I turned my wallet on once a month vs. once a week vs. 24/7. Obviously this is all written in the code somewhere so there is a reference point to all of this. I'm not asking Socal this (no offense) or any other BTCtalk supporters - I think this should be answered by the devs themselves.

None taken I'll let the devs answer this one in depth since you requested it Xosihc, but I just want to point out that it is currently 1am for the Devs so there's a good chance they are asleep right now but I will text them tomorrow and request a more thorough explanation.

Oh definitely - I don't need this answered tonight, or even tomorrow really (being that it's Sunday). But at some point it would be nice to know.

lol I spoke too soon as soon as I posted that Doug joined IRC so I passed along your question

EDIT:

Dev post incoming  

Awesome! I guess the questions more specifically would be; what is the period of compounding, which I know would vary depending on the amount of coins one holds. So I understand it does get complicated. It's not just a simple (FV) = (PV)*((1+(r/t))^t)

[barabbas]

Who is playing with VRC buy / sell? Some people really manipulating price.  

Yes this has been happening the past two weeks or so either whales accumulating or a well funded attack trying to kill VRC by artificially suppressing the price either way all we have to do is buy out the manipulators and NOT DUMP and there will be a clear shot back up.


EDIT:

Just something to think about if you take the time to dig back through the posts and the market graphs you will see a well coordinated FUD attack that coincided with the drop in price and subsequent suppression. That tells me there's either some big whales that know this is a good coin and wanted in cheap OR bag holders from other coins that want to see VRC fail because we threaten them.

This, again, is your usual bullshit. The truth is that there's a lot of people willing to sell their coins -and actually selling them- for lower and lower prices. All the rest is simply bullshit, nothing else.

Now, considering that \the staking numbers are absolutely false, that explains a lot. I will be awaiting for Doug's CLEAR explanation of exactly how many real coins are staking... and, by the way,m since the numbers provided are false, what's the use of those sites that are supposed to tell us how many coins are staking at a given moment and what the max and min of the day are? What a whole ball of crap this is resulting to be!

And I don't want to hear ANY bullshit any more, ok? Oh and by the way, Patrick, there's a very specific question hanging since it happened that you have refused to answer (correctly): Exactly in what way would your transfer of 200,000 VRC to the exchange "help stabilizing" the price? Because, no matter how many turns you take at it, it sounds and actually is suspiciously like BULL SHIT. transferring BTC to buy VRC, would have helped, indeed. Transferring VRC would actually have the opposite effect,. so what was the purpose? And whatever happened to those 200,000 coins. These are very simple, straight6forward answers that would take less than 5 seconds to post... why are you refusing to do it? They are not going to go away...

[Xosihc]

Who is playing with VRC buy / sell? Some people really manipulating price.  

Yes this has been happening the past two weeks or so either whales accumulating or a well funded attack trying to kill VRC by artificially suppressing the price either way all we have to do is buy out the manipulators and NOT DUMP and there will be a clear shot back up.


EDIT:

Just something to think about if you take the time to dig back through the posts and the market graphs you will see a well coordinated FUD attack that coincided with the drop in price and subsequent suppression. That tells me there's either some big whales that know this is a good coin and wanted in cheap OR bag holders from other coins that want to see VRC fail because we threaten them.

This, again, is your usual bullshit. The truth is that there's a lot of people willing to sell their coins -and actually selling them- for lower and lower prices. All the rest is simply bullshit, nothing else.

Now, considering that \the staking numbers are absolutely false, that explains a lot. I will be awaiting for Doug's CLEAR explanation of exactly how many real coins are staking... and, by the way,m since the numbers provided are false, what's the use of those sites that are supposed to tell us how many coins are staking at a given moment and what the max and min of the day are? What a whole ball of crap this is resulting to be!

And I don't want to hear ANY bullshit any more, ok? Oh and by the way, Patrick, there's a very specific question hanging since it happened that you have refused to answer (correctly): Exactly in what way would your transfer of 200,000 VRC to the exchange "help stabilizing" the price? Because, no matter how many turns you take at it, it sounds and actually is suspiciously like BULL SHIT. transferring BTC to buy VRC, would have helped, indeed. Transferring VRC would actually have the opposite effect,. so what was the purpose? And whatever happened to those 200,000 coins. These are very simple, straight6forward answers that would take less than 5 seconds to post... why are you refusing to do it? They are not going to go away...

Those numbers aren't false. You just have a misconception of what the numbers represent. False would imply there is inaccuracy within the numbers, which in fact there is not. No need to be a dick about it.