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

[Kevondo]

Thanks for the update, Doug.  I'd like to discuss this a little more though.  Since the expectations of our contributors were either to get their VRC back at 10k satoshis, if successful, or a full refund if not, I think we should make sure we're sensitive in light of this change in plans.  I encouraged a lot of people to give and told them that this was the deal, so I feel like this is sideways from expectations.

Can we come up with a response to anybody who contributed and was still expecting to get their VRC back at 10k sats? Maybe if the price hits 50k and then 100k, we can give back 10-20%  to the original contributors from this fund.  For example, if someone donated 10,000 VRC and the price hits 50,000 sats, we can give that person back 2,000VRC.

Thanks,
BagHolder

The community voted with their coins, nothing can be undone now.

I think what Bag holder is saying is the deal was brokered around the premise that some of the VRC given to the funding effort would be returned to them in either Case. The deal was:
        1. If the deal didn't go through they'd get all of it back.
        2. If the deal went through they'd receive an amount of VRC equivelent to what could be purchased with [the amount of VRC they gave] X 10K Satoshi.
        3. The deal went through.
        4. James gave the Escrow Fund and anything else sent to it back to the community.
        5. What happens about the stipulation in #2?
                   a. Peole gave thinking they couldn't lose anything.
                    b. The new wrinkle James introduced doesn't include ANY return to the contributors
                    c. Or, maybe it does?

But it isn't clear and Bag Holder wants to know the facts of how this conundrum will be addressed.
        

                    

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[Kevondo]

[size=12 www.vrcradio.com LIVE in 5 minutespt][/size]

[ELMER_FUD]

Someone sure knows how to drive the price down.  Ouch.  They definitely weren't looking to get the most money out of their trades, that's for sure.

[souljah1h]

www.vrcradio.com LIVE in 5 minutes

[effectsToCause]

Thanks for the update, Doug.  I'd like to discuss this a little more though.  Since the expectations of our contributors were either to get their VRC back at 10k satoshis, if successful, or a full refund if not, I think we should make sure we're sensitive in light of this change in plans.  I encouraged a lot of people to give and told them that this was the deal, so I feel like this is sideways from expectations.

Can we come up with a response to anybody who contributed and was still expecting to get their VRC back at 10k sats? Maybe if the price hits 50k and then 100k, we can give back 10-20%  to the original contributors from this fund.  For example, if someone donated 10,000 VRC and the price hits 50,000 sats, we can give that person back 2,000VRC.

Thanks,
BagHolder

The community voted with their coins, nothing can be undone now.

I think what Bag holder is saying is the deal was brokered around the premise that some of the VRC given to the funding effort would be returned to them in either Case. The deal was:
        1. If the deal didn't go through they'd get all of it back.
        2. If the deal went through they'd receive an amount of VRC equivelent to what could be purchased with [the amount of VRC they gave] X 10K Satoshi.
        3. The deal went through.
        4. James gave the Escrow Fund and anything else sent to it back to the community.
        5. What happens about the stipulation in #2?
                   a. Peole gave thinking they couldn't lose anything.
                    b. The new wrinkle James introduced doesn't include ANY return to the contributors
                    c. Or, maybe it does?

But it isn't clear and Bag Holder wants to know the facts of how this conundrum will be addressed.
        

                    

Yes I totally understand this. There is no reason that this reimbursement can't happen in some way as the community would be voting on it.  I think we should gather more information and let things unfold more before deciding what to do. Though it's ultimately up to the community. If the previous scenario had occured, the 10k sale would not have happened till a 5x increase in price. So based on previous time expectations I think we have some time to decide.  

[Morb]

Someone sure knows how to drive the price down.  Ouch.  They definitely weren't looking to get the most money out of their trades, that's for sure.

And it's such an odd time to sell.  Maybe some people have just been wanting out for a long time and are just saying "screw it" and going out to buy a new fancy desk chair with their vrc profits.

[ELMER_FUD]

Someone sure knows how to drive the price down.  Ouch.  They definitely weren't looking to get the most money out of their trades, that's for sure.

And it's such an odd time to sell.  Maybe some people have just been wanting out for a long time and are just saying "screw it" and going out to buy a new fancy desk chair with their vrc profits.

Seeing how low the volume is, it definitely is an odd time to sell, especially considering that they were selling into market weakness and not into strength.  It happened simultaneously across several markets, too.  It wasn't limited to just one exchange, which makes it even weirder.

[libertynow]

Someone sure knows how to drive the price down.  Ouch.  They definitely weren't looking to get the most money out of their trades, that's for sure.

And it's such an odd time to sell.  Maybe some people have just been wanting out for a long time and are just saying "screw it" and going out to buy a new fancy desk chair with their vrc profits.

Seeing how low the volume is, it definitely is an odd time to sell, especially considering that they were selling into market weakness and not into strength.  It happened simultaneously across several markets, too.  It wasn't limited to just one exchange, which makes it even weirder.

That dump occurred on Cryptsy.  The rest of the exchange response was arbitraging.  Someone sold about 150k on Cryptsy.  Not huge, but substantial.  I don't think it has anything to do with news. I think someone woke up on Monday after partying all weekend, realized they were up on VRC and sold.  My guess is that it was just trading.

[SolarBTC]

Regarding escrow funds and going forward:

They are safe in a cold wallet and the coins no longer need to be sold at 10k prices.  James donated them back to the community, and per his request, that we whole heartily agree with, no action will be taken with the coins without a community vote to decide.
Track the escrow here: https://chainz.cryptoid.info/vrc/address.dws?VECuyuNjLDh437hJfABSxV1817D982S4H6.htm

James offered an impressive gesture of commitment to our community with this action and I thank him for that.  He still has incentive, he has his own personal stash of VeriCoin he purchased on the market.  We the community will discuss with James about how the funds can be used for this project.  There are some escrow requirements for SuperNET inclusion and so on, some things are yet to be determined as this is a new platform being built.  The discussion will continue on how to build VeriCoin into the SuperNet, while also continuing to build the independent VeriCoin wallet and network as before.  There are only more things to be gained now.

Congratulations to the VeriCoin community for coming together to meet a BIG goal in a SHORT time, it shows the true commitment and power of our community working together!  By sacrificing a bit for the best of our community, technology and investments, we can achieve and will achieve great things going forward!  

Thank you all for your efforts, time and resources!  We all will continue this discussion and work with James regarding adding advanced technologies to VeriCoin through a new additional infrastructure, and we are on track with our previous roadmap too, as things are coming in the near future.

Doug

Thanks for the update, Doug.  I'd like to discuss this a little more though.  Since the expectations of our contributors were either to get their VRC back at 10k satoshis, if successful, or a full refund if not, I think we should make sure we're sensitive in light of this change in plans.  I encouraged a lot of people to give and told them that this was the deal, so I feel like this is sideways from expectations.

Can we come up with a response to anybody who contributed and was still expecting to get their VRC back at 10k sats? Maybe if the price hits 50k and then 100k, we can give back 10-20%  to the original contributors from this fund.  For example, if someone donated 10,000 VRC and the price hits 50,000 sats, we can give that person back 2,000VRC.

Thanks,
BagHolder

BagHolder, thats a good idea. then at least we all who contributed get back the min. worth back.

20% @ 50k for original escrow senders to get back is not a bad idea at all.

also thanks for those many generous contributions BagHolder.

kind regards

-SolarBTC

[criptix]

I can think of atleast 2 people able to do this and have a reason too. But without proof it would be just a accusation so i will just say this:

Coins are changing hands alot - the seller wont have much coins left to dump soon

(  btw look at bbr for example - the same happened there)

[ScottAllyn]

BagHolder, thats a good idea. then at least we all who contributed get back the min. worth back.

20% @ 50k for original escrow senders to get back is not a bad idea at all.

also thanks for those many generous contributions BagHolder.

Yea, that's the amount that everyone had in mind when they contributed in the first place, so we should definitely shoot for that.

[pnosker]

Donors will get their respective amount of coin back when the price hits the targets, as before, either in BTC or VRC. Don't worry.

[syclone]

It's Monday guys (and gals), almost everything is down and in the RED. 

[ELMER_FUD]

Someone sure knows how to drive the price down.  Ouch.  They definitely weren't looking to get the most money out of their trades, that's for sure.

And it's such an odd time to sell.  Maybe some people have just been wanting out for a long time and are just saying "screw it" and going out to buy a new fancy desk chair with their vrc profits.

Seeing how low the volume is, it definitely is an odd time to sell, especially considering that they were selling into market weakness and not into strength.  It happened simultaneously across several markets, too.  It wasn't limited to just one exchange, which makes it even weirder.

That dump occurred on Cryptsy.  The rest of the exchange response was arbitraging.  Someone sold about 150k on Cryptsy.  Not huge, but substantial.  I don't think it has anything to do with news. I think someone woke up on Monday after partying all weekend, realized they were up on VRC and sold.  My guess is that it was just trading.

It's kind of sad that there wasn't more buy support to counter a $10K sale.  I think that's the weakest link here.  Aside from the grassroots level, that we still have no PR or marketing going on.  We really need to step it up if we're going to be anything but fodder for the pump and dump and the daytrading crowd.  Hopefully that happens sooner rather than later, even if it's kept at the grassroots level.

[ELMER_FUD]

It's Monday guys (and gals), almost everything is down and in the RED. 

I've seen it rally on Mondays but you are right as far as everything being in the red.

[onsightit]

More SuperNet news: https://bitscan.com/articles/welcome-to-the-supernet

[ELMER_FUD]

Coins are changing hands alot - the seller wont have much coins left to dump soon

I'm looking forward to that day.  It can't come soon enough.

I know that cryptos are inherently volatile and all but it would be a good show of strength if we could muster up some buy support.  It would also attract more investors, which is what this coin needs more than anything right now.  Well, that and some positive PR/marketing, which is what often attracts buyers (and hence, acts as a buffer against the sellers).

[SolarBTC]

Donors will get their respective amount of coin back when the price hits the targets, as before, either in BTC or VRC. Don't worry.

awesome sounds good.

then everybody is on the same page.

those who contributed to the escrow.

thanks for reassuring pnosker.

always good to hear from the original devs also involved.

and jl777 [James] good luck with the coding, & VRC team.

greetingz

-SolarBTC

ps: VeriVV and whole community good job sticking together.

Power in Numbers!

don't forget that.

[ELMER_FUD]

Hello everybody,

I have had VRC in the past but now looking for a coin to invest in longterm. There has been a pump last couple of days and now is going down again. Pump and dump? It doesnt look like a good sign to me as an outsider. Maybe someone can explain this. Also, what can we expect from VRC in the near future as in development?

Thx  

Hi there.  You are choosing a very opportune time to be re-evaluating Vericoin as a longterm investment.  I would not concern yourself too much with the current price volatility as compared to the recent project developments and the bright future plans of this coin.  Much great progress is transpiring and given that we now have jl777's support, the odds that Vericoin over the long term becomes an extremely profitable investment has went up considerably compared to just 1 week prior.  IMO the SuperNET and any coins included in it's core will inherently have competitive advantages over other coins and the fantastic progress that Vericoin has made as a community to achieve that inclusion is impressive!  As our community unites Vericoin becomes stronger and more valuable and as altcoins unite in the SuperNET, all altcoins become more a more valuable and compelling alternative to the fiat financial system which is positive for all of crypto.  

I agree with you 100% but I also think that it's important that the news gets broadcasted and not just limited to the visitors of this forum.

[ELMER_FUD]

Personally I really would like to grow off of current developments, promises are inherently risky, and have done more harm than good to us in the recent past.

While I haven't agreed with much of what he's said in the last couple of days, Roberto makes a Veri good point.