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effectsToCause
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October 17, 2015, 12:31:09 AM
Last edit: October 17, 2015, 12:43:50 AM by effectsToCause |
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Any news from the old, good Vericoin project? What about Supernet and the rest of plans?
I'm wondering this too this shocking 2nd attempt was awful I felt the original vericoin had some promising features and philosophy I am not sure what was that 2nd attempt, last time I heard from them it was the PoS which of course means absolutely nothing, but at least it was an attempt in innovation and well done for that. I think Vericoin still have an opportunity to be the next crypto that could be attractive for the general public (but of course the time is running out quickly). Bitshare realized this opportunity with Identabit. Now a well known crypto developer Dan Larimer of Bitshare basically implements what we have suggested to Vericoin a year ago: use the personal profile of the DEVs to create a currency that complies with laws and regulations. We said, fuck the dark net, fuck anonymity, in order to reach out to the public (which was the original theme of Vericoin) the digital currency will have to comply with regulations, therefore must have a public face for the coin - which Vericoin is having from the beginning. For some unknown reason the devs don't do this, however here and there I can hear that basically this will be the end goal. Vericion still in the position to reach out to the public using the profile of the DEVs as the public face of the operation, but of course it is more difficult than it was a year ago I don't blame the DEVs for not pushing harder. The whole digital currency movement is in serious trouble. The DEVs don't have income from this (though probably Patrick Nosker and a few others around the project had pocketed a lot) so of course they get on with their carrier instead of working on a digital currency. We are still working on significant things more details will come in 2.0 whitepaper. This release will be biggest innovation since the release of VeriCoin itself. We opted not to go down the identity road for one primary reason. If you require identity, you also must require a permissioned system, if you require a permissioned system you re-enter the security cat and mouse game and lose all the efficiencies of pseudonymous public systems. We will be addressing identity in a pseudonymous way but not true identity. The permissioned systems will be the way the banks handle the blockchain initially, however they will quickly realize beyond backend efficiencies they cannot compete with the efficiencies of pseudonymous permissionless systems. At this point the banking industry will be disrupted, but likely not until the smaller more adventurous banks utilize this public permissionless system without having to fire most of their employees and they end up out-competing the traditional banking system. However this all will take some time. We will be building on the public, permissionless system and will have significant infrastrucutre in place when this disruption takes place. Thanks for the update. I think there are still users, potentially investors out there who are interested in Vericoin and see potential in the team, so it is great to hear some updates sometimes from you. Terms of the identity and protocol matters, we are having lots of discussion about these issues in the economy and other threads of this forum. Could you explain please briefly what are the permissioned system and pseudonymous public system in this context? Of course you can explain in more details if you have time - I am sure it would be appreciated by many -, but even a brief explanation would be very useful to understand what are the main attributes of a public permissionless system. Even in bullet points would be great to get some info to understand the basic idea and what are you up to. Sure. By public permissionless systems what I mean is the Bitcoin blockchain format. The data and access to the network is public and unrestricted, we are working on a identity system through pseudonyms (like twitter for instance) for VeriCoin address identification and usability. By permissioned systems I mean private blockchains that require authentication and true identity or login credentials associated with a true identity. These systems will be the first mainstream step towards a bitcoin-like blockchain but are vulnerable to hacking and thus more costly. If a blockchain is used by a bank privately it can save them some costs but the most costly security measures are still required. Smaller banks or banking 2.0 will implement a BTC-like blockchain and they will begin to out-compete the traditional banking systems due to lack of costs. This will bring the public blockchain technology mainstream. If BTC has the biggest hashrate (distributed security) at that time it will be used by many and the banking 2.0 startups will likely do exchanging in BTC. The traditional banking systems will take longer to move beyond permissioned or login based blockchain technologies because their entire infrastructure is built on top of this paradigm, it will only happen when their survival is at risk due to their excessive costs relative to the public systems. I hope this is a more clear depiction of what I think will unfold over the next few years on this. VeriCoin is building an infrastructure that will be able to enable, support and lead the banking 2.0 technology 'revolution'. |
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altcoinUK (OP)
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October 24, 2015, 01:06:51 AM |
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Any news from the old, good Vericoin project? What about Supernet and the rest of plans?
I'm wondering this too this shocking 2nd attempt was awful I felt the original vericoin had some promising features and philosophy I am not sure what was that 2nd attempt, last time I heard from them it was the PoS which of course means absolutely nothing, but at least it was an attempt in innovation and well done for that. I think Vericoin still have an opportunity to be the next crypto that could be attractive for the general public (but of course the time is running out quickly). Bitshare realized this opportunity with Identabit. Now a well known crypto developer Dan Larimer of Bitshare basically implements what we have suggested to Vericoin a year ago: use the personal profile of the DEVs to create a currency that complies with laws and regulations. We said, fuck the dark net, fuck anonymity, in order to reach out to the public (which was the original theme of Vericoin) the digital currency will have to comply with regulations, therefore must have a public face for the coin - which Vericoin is having from the beginning. For some unknown reason the devs don't do this, however here and there I can hear that basically this will be the end goal. Vericion still in the position to reach out to the public using the profile of the DEVs as the public face of the operation, but of course it is more difficult than it was a year ago I don't blame the DEVs for not pushing harder. The whole digital currency movement is in serious trouble. The DEVs don't have income from this (though probably Patrick Nosker and a few others around the project had pocketed a lot) so of course they get on with their carrier instead of working on a digital currency. We are still working on significant things more details will come in 2.0 whitepaper. This release will be biggest innovation since the release of VeriCoin itself. We opted not to go down the identity road for one primary reason. If you require identity, you also must require a permissioned system, if you require a permissioned system you re-enter the security cat and mouse game and lose all the efficiencies of pseudonymous public systems. We will be addressing identity in a pseudonymous way but not true identity. The permissioned systems will be the way the banks handle the blockchain initially, however they will quickly realize beyond backend efficiencies they cannot compete with the efficiencies of pseudonymous permissionless systems. At this point the banking industry will be disrupted, but likely not until the smaller more adventurous banks utilize this public permissionless system without having to fire most of their employees and they end up out-competing the traditional banking system. However this all will take some time. We will be building on the public, permissionless system and will have significant infrastrucutre in place when this disruption takes place. Thanks for the update. I think there are still users, potentially investors out there who are interested in Vericoin and see potential in the team, so it is great to hear some updates sometimes from you. Terms of the identity and protocol matters, we are having lots of discussion about these issues in the economy and other threads of this forum. Could you explain please briefly what are the permissioned system and pseudonymous public system in this context? Of course you can explain in more details if you have time - I am sure it would be appreciated by many -, but even a brief explanation would be very useful to understand what are the main attributes of a public permissionless system. Even in bullet points would be great to get some info to understand the basic idea and what are you up to. Sure. By public permissionless systems what I mean is the Bitcoin blockchain format. The data and access to the network is public and unrestricted, we are working on a identity system through pseudonyms (like twitter for instance) for VeriCoin address identification and usability. By permissioned systems I mean private blockchains that require authentication and true identity or login credentials associated with a true identity. These systems will be the first mainstream step towards a bitcoin-like blockchain but are vulnerable to hacking and thus more costly. If a blockchain is used by a bank privately it can save them some costs but the most costly security measures are still required. Smaller banks or banking 2.0 will implement a BTC-like blockchain and they will begin to out-compete the traditional banking systems due to lack of costs. This will bring the public blockchain technology mainstream. If BTC has the biggest hashrate (distributed security) at that time it will be used by many and the banking 2.0 startups will likely do exchanging in BTC. The traditional banking systems will take longer to move beyond permissioned or login based blockchain technologies because their entire infrastructure is built on top of this paradigm, it will only happen when their survival is at risk due to their excessive costs relative to the public systems. I hope this is a more clear depiction of what I think will unfold over the next few years on this. VeriCoin is building an infrastructure that will be able to enable, support and lead the banking 2.0 technology 'revolution'. Thanks for explaining, it is much appreciated! I doubt any banks will use the BTC blockchain for managing financial transactions. One of the main unique selling points of traditional bank services over crypto currency network transactions is the privacy, which is simply cannot be guaranteed using the BTC blockchain. Customers don't care if the bank having knowledge about the transactions, moreover for regulatory reasons the bank must associate the transactions with customers' identities, but the customers won't accept if the transactions are stored and visible in the public blockchain. From customer viewpoint it is unacceptable if the transaction information will be exposed to others than the bank and law enforcement. The mixing services also won't be solutions, because law enforcement and authorities must have access to the transaction details, and mixing service or anonymity algorithms by definition denies such access. You would have to design a system that addresses a) privacy b) traceability c) auditability In the meantime, to comply with money laundering regulations you would still have to associate the customer's identity with the transaction. That means you will end up with the blockchain version of an Oracle or MS SQL database terms of data structure (to store everything what a bank must store such as customer names, address, identity documents, etc.). Would such semi-public blockchain save money for the banks? Not much as most of them would still store the blockchain in a database to serve the customers with light wallets - which will requires the very same infrastructure as the current one to address high availability and scalability. Anyway, innovation is always good fun, so I understand you are keen to move forward the project :-))) and good luck with that. |
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effectsToCause
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October 27, 2015, 05:59:13 PM |
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Any news from the old, good Vericoin project? What about Supernet and the rest of plans?
I'm wondering this too this shocking 2nd attempt was awful I felt the original vericoin had some promising features and philosophy I am not sure what was that 2nd attempt, last time I heard from them it was the PoS which of course means absolutely nothing, but at least it was an attempt in innovation and well done for that. I think Vericoin still have an opportunity to be the next crypto that could be attractive for the general public (but of course the time is running out quickly). Bitshare realized this opportunity with Identabit. Now a well known crypto developer Dan Larimer of Bitshare basically implements what we have suggested to Vericoin a year ago: use the personal profile of the DEVs to create a currency that complies with laws and regulations. We said, fuck the dark net, fuck anonymity, in order to reach out to the public (which was the original theme of Vericoin) the digital currency will have to comply with regulations, therefore must have a public face for the coin - which Vericoin is having from the beginning. For some unknown reason the devs don't do this, however here and there I can hear that basically this will be the end goal. Vericion still in the position to reach out to the public using the profile of the DEVs as the public face of the operation, but of course it is more difficult than it was a year ago I don't blame the DEVs for not pushing harder. The whole digital currency movement is in serious trouble. The DEVs don't have income from this (though probably Patrick Nosker and a few others around the project had pocketed a lot) so of course they get on with their carrier instead of working on a digital currency. We are still working on significant things more details will come in 2.0 whitepaper. This release will be biggest innovation since the release of VeriCoin itself. We opted not to go down the identity road for one primary reason. If you require identity, you also must require a permissioned system, if you require a permissioned system you re-enter the security cat and mouse game and lose all the efficiencies of pseudonymous public systems. We will be addressing identity in a pseudonymous way but not true identity. The permissioned systems will be the way the banks handle the blockchain initially, however they will quickly realize beyond backend efficiencies they cannot compete with the efficiencies of pseudonymous permissionless systems. At this point the banking industry will be disrupted, but likely not until the smaller more adventurous banks utilize this public permissionless system without having to fire most of their employees and they end up out-competing the traditional banking system. However this all will take some time. We will be building on the public, permissionless system and will have significant infrastrucutre in place when this disruption takes place. Thanks for the update. I think there are still users, potentially investors out there who are interested in Vericoin and see potential in the team, so it is great to hear some updates sometimes from you. Terms of the identity and protocol matters, we are having lots of discussion about these issues in the economy and other threads of this forum. Could you explain please briefly what are the permissioned system and pseudonymous public system in this context? Of course you can explain in more details if you have time - I am sure it would be appreciated by many -, but even a brief explanation would be very useful to understand what are the main attributes of a public permissionless system. Even in bullet points would be great to get some info to understand the basic idea and what are you up to. Sure. By public permissionless systems what I mean is the Bitcoin blockchain format. The data and access to the network is public and unrestricted, we are working on a identity system through pseudonyms (like twitter for instance) for VeriCoin address identification and usability. By permissioned systems I mean private blockchains that require authentication and true identity or login credentials associated with a true identity. These systems will be the first mainstream step towards a bitcoin-like blockchain but are vulnerable to hacking and thus more costly. If a blockchain is used by a bank privately it can save them some costs but the most costly security measures are still required. Smaller banks or banking 2.0 will implement a BTC-like blockchain and they will begin to out-compete the traditional banking systems due to lack of costs. This will bring the public blockchain technology mainstream. If BTC has the biggest hashrate (distributed security) at that time it will be used by many and the banking 2.0 startups will likely do exchanging in BTC. The traditional banking systems will take longer to move beyond permissioned or login based blockchain technologies because their entire infrastructure is built on top of this paradigm, it will only happen when their survival is at risk due to their excessive costs relative to the public systems. I hope this is a more clear depiction of what I think will unfold over the next few years on this. VeriCoin is building an infrastructure that will be able to enable, support and lead the banking 2.0 technology 'revolution'. Thanks for explaining, it is much appreciated! I doubt any banks will use the BTC blockchain for managing financial transactions. One of the main unique selling points of traditional bank services over crypto currency network transactions is the privacy, which is simply cannot be guaranteed using the BTC blockchain. Customers don't care if the bank having knowledge about the transactions, moreover for regulatory reasons the bank must associate the transactions with customers' identities, but the customers won't accept if the transactions are stored and visible in the public blockchain. From customer viewpoint it is unacceptable if the transaction information will be exposed to others than the bank and law enforcement. The mixing services also won't be solutions, because law enforcement and authorities must have access to the transaction details, and mixing service or anonymity algorithms by definition denies such access. You would have to design a system that addresses a) privacy b) traceability c) auditability In the meantime, to comply with money laundering regulations you would still have to associate the customer's identity with the transaction. That means you will end up with the blockchain version of an Oracle or MS SQL database terms of data structure (to store everything what a bank must store such as customer names, address, identity documents, etc.). Would such semi-public blockchain save money for the banks? Not much as most of them would still store the blockchain in a database to serve the customers with light wallets - which will requires the very same infrastructure as the current one to address high availability and scalability. Anyway, innovation is always good fun, so I understand you are keen to move forward the project :-))) and good luck with that. I agree with this assessment, and no this permissioned format will not save much costs but some for the banks. We are working on a system that has public transactions associated with pseudonyms that are nearly impossible to associate with a VRC address. We are targeting more privacy than BTC yet the same public transaction database, via a combination of technologies into an innovative mechanism. We are going for the sweet spot, the VRC 2.0 infrastructure will be part of the solution. The banks and therefore governments will not have any choice when banking 2.0 is out-competing the traditional banks in cost savings, but it will require some unique technologies that no coin has right now. Regulation of these public systems will be sparse and flexible by necessity. Less overhead always wins, it's just a matter of time and the right technologies. This is our focus. We have been utilizing this lull in the market to build this new infrastructure, and while many are giving up and assuming this sweet spot can't be found our competition has gotten lighter. |
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altcoinUK (OP)
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October 29, 2015, 05:18:01 PM |
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I agree with this assessment, and no this permissioned format will not save much costs but some for the banks. We are working on a system that has public transactions associated with pseudonyms that are nearly impossible to associate with a VRC address. We are targeting more privacy than BTC yet the same public transaction database, via a combination of technologies into an innovative mechanism. We are going for the sweet spot, the VRC 2.0 infrastructure will be part of the solution. The banks and therefore governments will not have any choice when banking 2.0 is out-competing the traditional banks in cost savings, but it will require some unique technologies that no coin has right now. Regulation of these public systems will be sparse and flexible by necessity. Less overhead always wins, it's just a matter of time and the right technologies. This is our focus. We have been utilizing this lull in the market to build this new infrastructure, and while many are giving up and assuming this sweet spot can't be found our competition has gotten lighter.
Thanks for replying, it's interesting. The blockchain is certainly getting more and more interests from the financial sector, so I guess we never know what technology the financial sector will pick up. Even multiple blockchain implementations could fine the way into the financial sector. You still have a big advantage with regards to the credibility as your team at least isn't anonymous which is pretty much a required starting point, but at least it helps to sell the product. I fully agree, the key is to be stubborn enough and consistent in not giving up and keep developing while others are dropping out from the race. Having said that, in the meantime others are endorsed by large techs. Like Ethereum was endorsed by MSFT in the last few days, which just made the company and team behind Ethereum instantly a billion dollar business IMHO. The good news it still could happen to your team as well. Unfortunately the Vericoin bagholders won't profit from that process, but it's not your fault - crypto has turned into the direction that coins (apart from Bitcoin) are absolutely irrelevant, but the technology and application platforms (i.e. Ethereum) could be very valuable, and your platform could grow into a valuable one in the future. If you will make that $ 1 billion IPO please send me $ 1 million dollar plus a Vericoin shirt as - when I wasn't ranting about Vericoin - I was shilling a lot for the project. |
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effectsToCause
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November 05, 2015, 04:43:08 PM |
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Thanks! Estimated total supply in 10 years ~35,351,985 |
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altcoinUK (OP)
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November 17, 2015, 04:18:04 PM |
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Bumping this thread to note that at least the Vericoin devs are still around their coin which is a quite rare and valuable attribute in the scam driven digital currency universe.
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destroyallhumans
Newbie
 Offline
Activity: 18
Merit: 0
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December 07, 2015, 04:36:20 PM
Last edit: October 20, 2016, 03:02:38 PM by destroyallhumans |
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whats the point of the vericoinforums if members are never granted "permission" to do anything? useless they are it seems.  |
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jd1959
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December 11, 2015, 07:17:55 AM |
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allow we to ask the question whats the point of the vericoinforums if members are never granted "permission" to do anything? useless they are it seems. It's what's called a feel good exercise Jon  |
dICO Disguised Instant Cash Out |
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altcoinUK (OP)
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December 22, 2015, 08:00:53 PM |
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No worries, this unmoderated thread will be staying to bring some sanity and rational to the process. Anyway, Merry Christmas and Happy New Year to all VRC bagholders! Don't be discouraged by the slow process - seeing how many pathetic wankers operate in the altcoin universe, the VRC devs (who are clearly not in the wanker group) have the very similar chance to succeed like it was 1.5 year ago (the chance is about 1% which seems very little, but since the other 99% of coins have 0% chance, the picture is not so dim). |
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altcoinUK (OP)
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February 05, 2016, 06:03:00 PM |
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So anybody knows if the VRC developers going to open a thread here in Bitcointalk?
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jd1959
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February 06, 2016, 03:28:22 AM |
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So anybody knows if the VRC developers going to open a thread here in Bitcointalk?
There are rumors of it over at Veriforums but I've liquidated.....if there is no Bitcointalk thread..... I'm not touching it...... I'm over people launching there project here then running away to start there own fanboy forum as soon as they cop a bit of flak, crying troll and fudster. Cheers Jon |
dICO Disguised Instant Cash Out |
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VeryVeriViral
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February 06, 2016, 04:36:56 AM |
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Hi guys. We've never quit working on VeriCoin - in fact last year we were incredibly busy working on Proof of Stake-Time. A few final touches and the protocol will be where we wanted it to be. Then we'll move on to improve in other areas where we see shortcomings etc. One of the most difficult things to have is - patience. We try our very best not to release anything if it's not fundamentally solid. Sure there will always be bumps along the way but - we just keep moving forward. We have a pretty straightforward idea of where we're headed. Right now we're on the road to 2.0 When we cross that bridge we'll explain our next step - which is adoption and utility. We will be back on BCT. And it will be unmoderated. (With the exception for deleting obnoxious spam and really extreme allegations with no merit/evidence etc.) It's true. I, personally, don't care for BCT. I recently went through Blackcoin's thread and it reminded me of how ugly it can be here. Traders will do what they do but we have a pretty great Community. Plus the entire VeriCoin Team is awesome. Not perfect but genuinely good guys trying to solve genuinely difficult blockchain/privacy related problems. So yeah - see everyone on BCT soon. Regards, Jay Jay |
Jay Jay
@VeriCoin + @VeriumReserve
Online Media/Marketing
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altcoinUK (OP)
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February 07, 2016, 09:31:58 PM
Last edit: February 08, 2016, 01:06:38 PM by altcoinUK |
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So anybody knows if the VRC developers going to open a thread here in Bitcointalk?
There are rumors of it over at Veriforums but I've liquidated.....if there is no Bitcointalk thread..... I'm not touching it...... I'm over people launching there project here then running away to start there own fanboy forum as soon as they cop a bit of flak, crying troll and fudster. Cheers Jon Wise man and you are absolutely correct. Transparency in an unmoderated thread (like this one) is the very first and one of the most important attributes of such community projects. |
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altcoinUK (OP)
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February 07, 2016, 09:43:55 PM |
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(With the exception for deleting obnoxious spam and really extreme allegations with no merit/evidence etc.)
So that will be not unmoderated. You can trust the moderators of Bitcointalk, they will delete the spams and all other posts which violate the terms of this forum. You don't have to take the moderation to your own hand - it was proven many times here that such moderation creates only problems. Take my word, don't start a moderated thread. You see what you have achieved by hiding in the safe and comfortable cheerleaders cave in the last year ... nothing really (terms of business development, I am not questioning the technical merit of the software development). This Bitcointalk forum is not as big as many think, I estimate based on Theymus advertisement statistics the number of active real users are no more than 8000. So it is fairly insignificant and very far from the 200,000 per day visitors what many believes. Most of the active "users" are sockpuppets of the shills. Still, this several thousands users could provide the very needed momentum for Vericoin and then I guess you will move from this toxic scam driven microcosmos to the business world. |
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altcoinUK (OP)
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February 07, 2016, 09:53:35 PM |
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Would you please keep the conversation in a sensible avenue? The market capitalization nonsense means nothing. With 100 BTC any coins (except Bitcoin) can be moved to both directions at any time of the day. Market capitalization is nothing but a self assuring delusion for bagholders that the precious shit they keep isn't so much worthless ... when in fact 99.99% of all coins (including NXT and all popular coins, except Bitcoin and perhaps Ethereum) worth absolutely nothing. They used by noobody in real world, they represent no value to real world businesses and therefore their value is zero. |
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BitcoinPorn
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March 05, 2016, 04:38:15 AM |
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VeriCoin 1.6.4 is now available to download via "Check For Update" inside of the wallet or for new users at our Official Website - VeriCoin.info
 This new update includes:
Decentralization
Removed Sync Checkpointing
Sync checkpointing removed from source code and all current and future operating system executables, to enforce a truly decentralized PoST network.
Removed Hardcoded Supernodes
Supernodes removed from network, source code, and all current and future operating system executables to further distribute connectivity evenly across network without central points of failure.
Security
Optimized PoST Protocol for Excess Age Consumption
PoST staking parameters have been optimized for more concise age consumption of all wallet sizes to further distribute block propagation and enhance disinflation equilibrium.
Additional Security to Prevent Malicious Future Stake Attacks
Additional conditions have been added to the protocol to further inhibit misbehaving nodes and time-stamp manipulation.
On behalf of the VeriCoin Team we'd like to thank the Community for their continued support and patience while we all travel along this incredibly exciting journey!
- The VeriCoin Forums Team https://www.vericoinforums.com/threads/ann-vericoin-1-6-4-now-available-for-download.1230/ |
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