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

[Xosihc]

No sense in not staking, just make sure to track the deposit amounts
I think that drkman's idea is pretty good. No sense in converting to BTC.

How about this.

1 year after funding is closed or when the price is above .001, there is a return of VRC. In the latter case, 100% of the donated value comes back. It will be a bit less than 10% of the coins you put in, but getting back all the value is the same as the scenario of the option being used.

Now if the price is .0005 to .001 after one year, then it will be more coins coming back than 10%, up to 20%, but again the outcome is similar to the option being exercised.

The unlikely case is that it is less than .0005, and I think in this case, it is just all returned, unless the donor chooses to keep it in.

If there are some external factors that make sense to change the 1 year cutoff, then it would require a stake weighted vote. Now with a united community and all the things that were already in progress, these unlikely scenarios of <ATH for next 12 months, this is not something I am paying much attention to.

Getting to .001 is a long term of working to improve the value and using the best ideas of the community and already I see a transformation into a can-do attitude. The solution to get the staking and the return of VRC, this is from VRC community, not me. I am just the crazy guy who made some impossible demands, that the VRC community achieved.

So, the power is strong within VRC. Know this. The "impossible" is just an excuse for the people who cant get things done.

The VRC devs are really contributing bigtime with the SuperNET project and shaping it to be much better than I can by myself. I am just one guy and need the help of everyone to make crypto all that it can be and this help from VRC community is making more time for me to do the tech. You should know I am the one to help my friends do as well as they can.

I am doing my best to prevent a huge price pump in the VRC and so please do not go all crazy from the optimism. The VRC is still some months away and it does have me as a friend, so be patient, support the devs, accumulate the VRC at the current prices. Dont chase the price, the weakhands (WH) will give you some favors. The WH are favorites of the BTCD community.

A wealthy community is a happy community. I will be a bit busy as I finish the Teleport and SuperNET tech, but I will try to monitor this thread. If there is anything I can do to help, just ask, but there are so many talents here, it is I that is asking for help!

James

P.S. If there are any expenditures that the VRC donors are all agreeing is making sense, then just have a vote that has 2/3'rds weight. Make sure not to spend more than half the fund! The community fund is for VRC community, it is not for me to decide such things.

Excellent plan.  Thank you for your response.

Couldn't agree more. It's simply amazing how 1 weekend can completely change the outlooks on everything. I understand the dev team has been working hard night/day regardless of James showing up and great things were in the future regardless but this is just awesome! The ability to completely remove all FUD/trolls from an online chat forum is nothing less than a miracle.

VRC = http://www.youtube.com/watch?v=xImIx1nwaS8&t=1m50s

[barabbas]

I think we should not stake until we've raised what James considers to be a suitable amount. As this was originally intended to be a fundraising activity until we reach 2.7 million VRC, I think he can call the shots as to when we have enough in the escrow. When that happens, we will audit the donations and get both corresponding VRC and BTC addresses for each donor. That way we can split the share evenly, with precision, and know how to refund the coins. Right now, we just have a VRC address. Ultimately we will need a BTC address to pay the 10k satoshi/VRC payment. But if we start staking, the blockchain gets confusing and we really need it to be as simple as possible to track.

If my calculations are correct, there is no need to actually convert to BTC to pay people.  You can pay them in VRC just returned to them.  (Ex.  50,000*.5*.0001=2.5BTC, 2.5BTC buys 5000 VRC @ .0005.).  Thus just return 5000 VRC to the originator and no need to sell VRC and pay in BTC.  Or, actually an even better method is just use whatever the VRC price is AT THE TIME of the end of year distribution.  If after 1 year the price is .0006, then your 2.5BTC of value would represent 4166 VRC plus the 1150 of interest.  The key being it's not too difficult to add in the interest portion to each address once we are done with all donating for this project.

Yeah I agree we don't need a BTC address, that was the original intent for simplicity.  Also drkman if you would be willing to build up the spreadsheet (which would help tremendously) then I would be happy to bring the coins online periodically to earn the interest accrued via coinage.  This is also another incentive to make the pot bigger as the community would be getting some significant interest payments over time.

My point exactly... with the added bonus that it will be a significant amount of coins staking and therefore reinforcing the blockchain and protecting the coins from attacks. Especially if the pot can get anywhere near 2 million coins. I already suggested a public honor roll, at least a voluntary one, with the devs listing their contributions to the fund. This could act as an incentive... direly needed for while the "donors" have been quite generous for the most part so far, I feel a very small part of the community has actually donated... in spite of the fact that we have practically doubled the price already exclusively on the "James effect".

Thank you!

It means more to me that you are now part of VRC than whatever small effect I have had on price so far.

I now know that you meant well all this time, but circumstances just created a "brownian motion" where the conflict just made things go in circles. Now VRC will benefit from your intellect.

With everybody in harmony, the brownian motion is transformed to a laser beam!

James

P.S. Yes, I realize brownian motion are gas molecules and lasers are for photons, plz forgive the scientific inaccuracy. When people join together, anything is possible

My message has always been quite clear all along... including being the first one in this forum in favor of "your plan" when first proposed and no one knew who you were. Vericoin needed someone like you to bring the tech know-how that, unfortunately, our devs don't have. Now there's a possibility, a strong one, of going forward for real and at a good pace... if we are able to set egos and arrogance aside before personal conflict -inevitably- arises.

Back to business: Very few people has, so far, participated in "donating" (thank you, by the way, for giving back to the community the option). Like I have stated before, there are a number of things, quite positive all of them, that can and must be done with those funds -- especially if we get anywhere near 2 million coins -2.7 is completely absurd since at least 7-8 million coins are in exchanges-. Staking, to begin with, is the natural and profitable option; to create an "stabilizing fund", like Nautilus, is another worth considering for we must strive to reach a level of non-volatility that the merchants as well as non-initiated customers, will demand before adoption. And simply funding for projects that require investment. But, like I said, only a very few have gotten involved -albeit quite generously- so far. Much more is needed so it will be the bulk of the community pushing forward and pushing hard.

Hey, if having their stakes doubling in price only because of you don't bring the generosity (which in this case is only technically generosity). I don't know what will. But what we shouldn't do is to call "the community" some 50-odd (at best) people so far carrying the big burden.

Edited to add:

And this is a BIG problem going forward... for which we may have already found the solution: The vision of James with Vericoin as the entrance door from the FIAT world -a vision that coincides exactly with that of Pat, Doug and Dave, as well as the vast majority if not all in the community. We have discussed one of the main obstacles Vericoin -and everyone else- has: The be able to convert FIAT directly to Vericoin, in the US, requires paying a pretty hefty price... anywhere around $150k. Cryptsy paid it. Mintpal -I'm quite sure- will eventually pay it. It is cost-effective, to them. Will it be for Vericoin? IF we are really to go after some kind of "mass" market, definitely. Now, to raise $150k, up until now, has been chimeric and, definitely, within the circumstances, not advisable... but now, circumstances have changed. Drastically. To foresee a very significant increase in price in the more or less close future is not chimeric at all so, where $150k was a huge figure a week ago, unrealistic to be ever assimilated by this project, has become now something (potentially) quite accessible. I am not as optimistic as to believe that we will get to 0.001 BTC within 6 months (I hope I am wrong, of course), but half that seems not too difficult (only a triple from here), so lets assume we can get to something in between, something like 0.0007. Let's also assume that the donations reach 2 million VRC. Those 2 million would be worth $700,000. Even after returning to the "donors" the 10k sat, the community would still have $600k (not even counting the staking in between... or any appreciation of BTC from here to there). Definitely in that circumstance, $150k doesn't look unreachable at all, does it?

The other "problem" that we need to provide solutions for, in advance, is the upcoming, inevitable, regulation. It is not IF, it is when. Vericoin should still welcome it. How the potential integration in the SuperNET could affect compliance depends on what the regulation will demand. But this, in any case, is premature... except that Vericoin must be prepared -with tools, disposition AND RESOURCES- to be the first crypto currency welcoming regulation and be in full compliance and, if possible, with the resources to influence that the compliance is not too strict. Some level of privacy can and must be requested from legislators. Accountability will not be a problem IF the resources are there to cover the risks... yet another reason to make of this pot one as big as we can possibly muster.

So, for those still on the sidelines: Come on: You have doubled your money in just a few days, can't you really afford to give 10% for such purposeful endeavor?

Once again, I encourage the idea of creating an honor roll, if for nothing else, to be thankful to those generous enough to, along with James, having made this actually possible. It is something to be proud of -and thankful for. And it should inspire those with less generous inclinations in the community. It is indeed for a great set of causes.

[Jeff Jefferson]

hey guys,

still trying to compile my own vericoin raspberry wallet 

i have received following error:

build/bitcoinrpc.o: file not recognized: File truncated
collect2: ld returned l exit status
make: *** vericoin-qt Error l

then it exits

I know there is a binary available but i want to compile it myself. What might be the problem?

[doc12]

hey guys,

still trying to compile my own vericoin raspberry wallet  

i have received following error:

build/bitcoinrpc.o: file not recognized: File truncated
collect2: ld returned l exit status
make: *** vericoin-qt Error l

then it exits

I know there is a binary available but i want to compile it myself. What might be the problem?

I had the same error when i compiled the wallet, the reason was that the objectfile was corrupted, because I accidently switched my PI off during the compilation.

Try to remove the file.

cd build
sudo rm bitcoinrpc.o
cd ..
sudo make (it should just compile the file you just removed and then link)

[doc12]

What do you thing about developing a payment system for Vericoin (and SuperNet) with NFC-Cards and mobiles?

It should be quite simple on the hardware side:  A raspberry pi with connected USB-NFC Reader and a simple touchscreen connectet to the SPI-Bus and some button of course.    Hardware cost approx. 60€.

Then NFC-payments could be inegrated into the Andorid and iOS wallet and some kind of VeriCardNFC or SuperNetCard

[MAD945]

What do you thing about developing a payment system for Vericoin (and SuperNet) with NFC-Cards and mobiles?

It should be quite simple on the hardware side:  A raspberry pi with connected USB-NFC Reader and a simple touchscreen connectet to the SPI-Bus and some button of course.    Hardware cost approx. 60€.

Then NFC-payments could be inegrated into the Andorid and iOS wallet and some Kind of VeriCardNFC.

Sounds rather genius to me!

[SolarBTC]

http://reactiongifs.me/wp-content/uploads/2014/08/friday-celebration-gif-jackie-chan-chris-tucker-car-dancing-rush-hour.gif

Awesome to be part of superNET

and the power of investors that come with jl777

and the strong community of VRC


            V e r i C o i n

-SolarBTC

[souljah1h]

[altcoinUK]

What do you thing about developing a payment system for Vericoin (and SuperNet) with NFC-Cards and mobiles?

It should be quite simple on the hardware side:  A raspberry pi with connected USB-NFC Reader and a simple touchscreen connectet to the SPI-Bus and some button of course.    Hardware cost approx. 60€.

Then NFC-payments could be inegrated into the Andorid and iOS wallet and some kind of VeriCardNFC or SuperNetCard

Yes, this could be a great community or hobby project, and this is a great idea to keep tech-minded VRC fans together. If you aren't interested to commercialize the device, then that's it, that's all I wanted to say :-))) If you are interested to commercialize the device then please read on :-)) hopefully you will find some useful information below.

As for developing a business ready payment processor device, that is a more complicated case. I suggested here back in June/July to roll out an ATM or payment processing device, but to be honest my suggestion was for mainly PR reasons. Once VRC start developing such device then the accompanying press releases could provide some good publicity for the coin. However, there are difficulties involved with the commercialization such devices. Prior to marketing and selling the difficulties are in R&D (research and development) and regulatory procedure.

R&D
This is an interesting one, lately lot of start-ups jumped into commercializing Raspberry Pi based solutions - it is not as easy nor practical as first seems :-)) Yes, the buses and pins are there, so you can use SPI, I2C, UART, yes we can buy the cheap peripherals from Sparkfun, Seeedstudio, etc., but the fact that the Raspberry Pi is a very capable device also introduces a few problems as well. The Pi is big, certainly bigger than what you need for this use case. Plus, once the touch screen is integrated the device is even bigger. That means the designer quickly run into the usual practical problem: electronic enclosure. For this device that you have described won't be possible to find a good looking bespoke enclosure (and I guess we wouldn't want to roll out an ugly one). That's why most of the Raspberry Pi based devices use a custom enclosure, but that means extra cost, at least $20,000 to get the enclosure. Apart from the touch screen, we would need a WiFi module to get internet connection, that means extra cost and even bigger device.
My experience is that these projects almost all the time end up using a custom design, to roll out and manufacture their own PCB. In this case the hardware cost less than using the expensive Pi, touch screen, WiFi board combo, and you can use a good looking bespoke enclosure from OKW, Bopla, etc.

Regulatory
Such device has to comply with safety, electronics and all kind of other regulations, not to mention the compliance with financial regulations related with payment processing, and the regulations are quite region specific. Therefore,  better to see the US and rest of the world market differently as the requirements are very different in these two.

EU and rest of the world. Once the CE mark is obtained and the certification partner (that is accredited by the regulatory body) was selected wisely, then the device is eligible in not only the EU market, but China, Japan, Taiwan and the Middle East. So it is quite important we select the correct certification partner. Still, go through on the regulatory process is a relatively expensive (£10,000) and time consuming task.

As for the USA, it is even more expensive and time consuming. Not too mention if your device communicates over a wireless protocol then the FCC is pain in ass  (and I assume your device would have a WiFi internet connection instead of using the Pi Ethernet connection to enable easier integration in the shops that use the device).

There are many other issues with hardware/firmware design and commercialization of the device, and I am sure you know that, and I just wanted to put my 2 cents here and not to tell what you should do, you will know how to handle the design and the rest, but if you run into problems let me know, I am happy to help if I can.

[altcoinUK]

and the power of investors that come with jl777

That power is lot less than what was promised and expected. After the great speeches and the promised endless access to infinitely rich whales the price couldn't even break 20k, and VRC started from a very low volume and very low price of 10k.
I would never do the bitching and complaining if the price rise, but as the price is fluctuating around 15k and going nowhere, better to ask where is the promised buy support of whales and not to celebrate what is not there.

[sluppy]

I vote to immediately use part of the funds to rent a team of commando's and free Auk clearly hes beeing held somewhere and someone has a gun to his head.
A whole rather usefull post Without insults ending with "I am happy to help if I can" clearly a cry for help and we should act quickly before they kill him.
(no Auk not trying to troll u just happily surprised;)

[altcoinUK]

I vote to immitiatly use part of the funds to rent a team of commando's and free Auk clearly hes beeing held somewhere and someone has a gun to his head.
A whole rather usefull post Without insults ending with "I am happy to help if I can" clearly a cry for help and we should act quickly before they kill him.
(no Auk not trying to troll u just happily surprised;)

You can always count on my unconditional support :-)) I was always the biggest supporter of this coin while the price was over 10k, you can check my tweets. Once the operation, buy support, volume and prices had collapsed I felt I need to point out the issues instead of continue the unconditional cheerleading (what I was doing before).
Now, as it turned out that the vericoin core devs have been working hard, then we need to be supportive, don't we?

[libertynow]

and the power of investors that come with jl777

That power is lot less than what was promised and expected. After the great speeches and the promised endless access to infinitely rich whales the price couldn't even break 20k, and VRC started from a very low volume and very low price of 10k.
I would never do the bitching and complaining if the price rise, but as the price is fluctuating around 15k and going nowhere, better to ask where is the promised buy support of whales and not to celebrate what is not there.

Be patient, it was just a week ago when things started to turn up.  There are still a lot of people that have been waiting for some increase to sell who never were invested in the vision of VRC.  James calls them the "weakhands" like BlackHandAshdrake and Wizfarm who have no interest in contributing to the future of VRC.  Once they get out, I think we'll see a steady increase.  It's not going to happen all in one day... which is the best way.  It'll be slow growth.  James has always spoken long term.  It's nice to have you on board again.  Again, please be patient and stay positive. :-)

Side Note:  If you think our BitcoinTalk forum has some issues, check out CloackCoin forum right now.  There's barely anybody left positive enough to even turn the lights off. Ouch...

[buy4crypto]

This post is so insightful.

More moon gifs please.


Looks like the supernet profit takers are already hammering many of the "candidates" Must be nice to get in early on these 1-2 year projects that, to date have yet to materialize in any meaningful way. Yet, the people setting up these things seem to ALWAYS profit. Must be nice to promise people the world, RISK FREE and then profit from it. Not only that, you all think jl777 is your savior.


My mistake with wizrig, was giving him the benefit of the doubt. This is more grotesque than anything wizrig did, and the pumping is even worse, with less of a impact. Be careful.


But, This is definately THE team to do it right? I mean, no competancy among the transparent devs, anonymous devs talking about changing the world.... All in noobs shouting about how this will change crypto..


Sounds exactly like the same promises, that materialize into failure.

But, I understand why you all hope, and dream and push out promises longer, so that the pumps can last longer in the meantime. You guys all realize 0 promises come true in vericoin that "change the game". Infact most are embarrassing when released. The only difference is the gig has been extended for years while the "smart money" aka insiders with the anon dev masterfully manipulate this, and the other "supernet" coins around. I can see it all to clearly already!

.... Because when its back to reality.... watch out. =/

Mark my words. The people who will profit  on "SuperNet", are those in the inner circle of SuperNet. You, the "Sheep" may make some money, but in the end, the last investors will be hurt the most, like anything that creates no value over another service, its a zero sum game. The ones who can buy prior to a pump, and sell prior to bad news will profit. It would be nice to be a anon insider at this point would you say? These anon devs are not welcome in crypto. "threats on my life" is BS, if you are not hurting people, nobody would threaten your life.

Funny how someone wants to hide using "proxy public" devs to gain credibility, meanwhile the trend is moving away from "anon" devs. The public people at VeriCoin sign up for anonymous leader while the entire market is moving towards things like "Proof of Developer" makes zero sense. But I guess anything for a pump, right guys? We know who is making money on this deal..

[altcoinUK]

and the power of investors that come with jl777

That power is lot less than what was promised and expected. After the great speeches and the promised endless access to infinitely rich whales the price couldn't even break 20k, and VRC started from a very low volume and very low price of 10k.
I would never do the bitching and complaining if the price rise, but as the price is fluctuating around 15k and going nowhere, better to ask where is the promised buy support of whales and not to celebrate what is not there.

Be patient, it was just a week ago when things started to turn up.  There are still a lot of people that have been waiting for some increase to sell who never were invested in the vision of VRC.  James calls them the "weakhands" like BlackHandAshdrake and Wizfarm who have no interest in contributing to the future of VRC.  Once they get out, I think we'll see a steady increase.  It's not going to happen all in one day... which is the best way.  It'll be slow growth.  James has always spoken long term.  It's nice to have you on board again.  Again, please be patient and stay positive. :-)

Side Note:  If you think our BitcoinTalk forum has some issues, check out CloackCoin forum right now.  There's barely anybody left positive enough to even turn the lights off. Ouch...

That's a very valid point. It was interesting to see that during the last rise the staking was down to 12 million, which means lots of bag holders moved their coins to the exchanges to sell. The large number of sellers makes a pump and consequently higher price quite impossible at this moment in time.

[sluppy]

What do you thing about developing a payment system for Vericoin (and SuperNet) with NFC-Cards and mobiles?

It should be quite simple on the hardware side:  A raspberry pi with connected USB-NFC Reader and a simple touchscreen connectet to the SPI-Bus and some button of course.    Hardware cost approx. 60€.

Then NFC-payments could be inegrated into the Andorid and iOS wallet and some Kind of VeriCardNFC.

Sounds rather genius to me!

I like your plan but your Wrong about the PI  its Old Slow and Expensive , you can get a much better Phone for less money , that will have a Camera to record and Screen to Display stuff like QR codes.
This could also be used by stores to build the inventory of their websites, Supernet may want to consider providing that service. so it could be presented as an allround product to drag the company into the 21st century.
Also I think it will be a Huge task to build a trusted system and why reinvent the wheel while u have good year tires in the garage.

That having been said this is really one of the roads we should be heading down.
Id love to help out on this project as long as u dont expect me to Code anything cuz then ull be dissapointed.

[buy4crypto]

Can I ask our developers, Dave, Doug, Patrick. in the name of transparency to divulge any and all donations that they may have received since the start of this project. This includes, but is not limited to vericoin addresses, fiat, future personal favors, ect?

I don't want to assume things. But we need to know if you have received gifts of any kind from people who are acting on behalf of VeriCoin in the past, present, and future.

SuperNet needs a transparent team. Can you please post the amounts, and if you know who sent the amount, please clarify the name of the handle, so people can have a better clue of how you guys may, or may not be profiting from your work, and the inclusion into SuperNet.


James may find this refreshing, we need the most transparent team now to make this work. We shouldn't be hiding anything, especially if nobody is profiting from this pump close to the developers.

[buy4crypto]

I know Crindon gave a sizable amount. (He was part of the pump team with Patrick and others in June / July, He gave a very nice public donation to Patrick after he sold out.) I am sure many others didn't want there donations known (Wizrig and others), but maybe its time to mention any side accounts, or family members who have profited from this? In the name of transparency. Maybe friends of friends have large accounts they are trading? We know Doug, and Patrick both have relatives invested in the coin. We have heard that you 3 dev's don't trade, but that leaves the door open for family / friends, and these new teammates, who have made the price jump on so little as speculation.


We already know "anon" dev 4 is a coin trader with a personal stash of at least 200k VRC by his words recently. He makes big profits, and big plans around buying / selling / developing. I don't care how ethical you may think he is, anonymous is not ethical. Nor what he, and his team may be doing behind the scenes with the momentum created from his own doing.




Greed is a temptress. If you're not one of the few people "in the know" I would be extremely careful of hoping for a future promise to come to fruition. But by all means, ride the waves, take profits on the momentum. You will ensure that the anon dev cannot take your profits when he is ready to fade back into the shadows for whatever reason he decides when its time to pull the plug.

[pnosker]

Can I ask our developers, Dave, Doug, Patrick. in the name of transparency to divulge any and all donations that they may have received since the start of this project. This includes, but is not limited to vericoin addresses, fiat, future personal favors, ect?

I don't want to assume things. But we need to know if you have received gifts of any kind from people who are acting on behalf of VeriCoin in the past, present, and future.

SuperNet needs a transparent team. Can you please post the amounts, and if you know who sent the amount, please clarify the name of the handle, so people can have a better clue of how you guys may, or may not be profiting from your work, and the inclusion into SuperNet.


James may find this refreshing, we need the most transparent team now to make this work. We shouldn't be hiding anything, especially if nobody is profiting from this pump close to the developers.

All donations to us have gone directly towards either the Devfund (1500 VRC donated, total), or VeriFund, several BTC donated and around 100k VRC donated (outside of our own donations to it), and finally around 70k donated privately to a fund to help setup a decentralized exchange.

We have not personally profited from any donations.

You can take my word for it, or not. But we won't be disclosing our addresses, coin counts, etc. because we didn't IPO/Premine and we earned all of our own coins by either mining or buying with cold, hard cash and it's nobody's business how much coin we have or what we do with it. I will say that I still haven't sold any of my mined pot of coin until I donated 75k to the superNET fund, and used some VRC to buy shirts, physical coins, and the like.

[libertynow]

Can I ask our developers, Dave, Doug, Patrick. in the name of transparency to divulge any and all donations that they may have received since the start of this project. This includes, but is not limited to vericoin addresses, fiat, future personal favors, ect?

I don't want to assume things. But we need to know if you have received gifts of any kind from people who are acting on behalf of VeriCoin in the past, present, and future.

SuperNet needs a transparent team. Can you please post the amounts, and if you know who sent the amount, please clarify the name of the handle, so people can have a better clue of how you guys may, or may not be profiting from your work, and the inclusion into SuperNet.


James may find this refreshing, we need the most transparent team now to make this work. We shouldn't be hiding anything, especially if nobody is profiting from this pump close to the developers.

All donations to us have gone directly towards either the Devfund (1500 VRC donated, total), or VeriFund, several BTC donated and around 100k VRC donated (outside of our own donations to it), and finally around 70k donated privately to a fund to help setup a decentralized exchange.

We have not personally profited from any donations.

You can take my word for it, or not. But we won't be disclosing our addresses, coin counts, etc. because we didn't IPO/Premine and we earned all of our own coins by either mining or buying with cold, hard cash and it's nobody's business how much coin we have or what we do with it. I will say that I still haven't sold any of my mined pot of coin until I donated 75k to the superNET fund, and used some VRC to buy shirts, physical coins, and the like.

Patrick,

It's very big of you that you're still responding to buy4crypto, but I wish you wouldn't.  He has nothing to add to our conversations at all other than insulting you guys or the project.