[ANN][VTR] vTorrent - Share with freedom | 2FA | HD | @Bittrex

[Pickleninja]

Buy the POLO listing rumours and *always* invest more than you can afford to lose.

Thats why we have TWO kidneys!

[sluggo]

How many coins does the dev have, is he loaded up and incentivised?

3% premine

[MrSunshine]

Can someone post some nodes, can't sync

I think more people need to be staking to keep the chain zinging along.

Whats the average rate of return when it comes to staking?

OP has it at 5%/year

That's the rate of increase for the coin supply. I'll have a look at the repo to see what the stake reward is based on.

edit

I'll do it tomorrow.

Well this is a bundle of fun.

Basically, it's 5% per year

Code:

static const int64_t COIN_YEAR_REWARD = 5 * CENT; // 5% per year

But it looks like there is a change to encourage people to be online

Code:

// miner's coin stake reward based on coin age spent (coin-days)
    int64_t nSubsidy;
    if (IsProtocolV3(pindexPrev->nHeight))
        nSubsidy = (pindexPrev->nMoneySupply / COIN) * COIN_YEAR_REWARD / (365 * 24 * (60 * 60 / 64));
    else
        nSubsidy = nCoinAge * COIN_YEAR_REWARD * 33 / (365 * 33 + 8);

    if (fDebug && GetBoolArg("-printcreation"))
        LogPrintf("GetProofOfStakeReward(): create=%s nCoinAge=%d\n", FormatMoney(nSubsidy).c_str(), nCoinAge);
    
    return nSubsidy + nFees;

So that you don't just earn 5% on your balance, but 5% on your balance if you keep your connection open. Well, something like that. I didn't go all the way down the rabbit hole.

Looks similar to CBX's PoSP, but with cbx the block reward is fixed.

So I am a newbie to staking. Should I be staking with my coins in my wallet?
So you are saying 5% more coins per year if staking.

Will I only get a reward if I keep it open 24/7/365?

I think this code saying if you are staking 200 days a year you will get 200/365 * 5% reward? So in this case it would be like 2.74%

Thanks

[Pickleninja]

How many coins does the dev have, is he loaded up and incentivised?

3% premine

You can't really trust that number though as it was 2 years ago... he may have more, or less. 
 
-pickle

[hughbt]

I bet he holds at least 10% of the supply. This project is over 2 years old so he already spent a lot of time working on it - this tells me that sooner or later the main functionality will be released(otherwise he would have just pumped and dumped it long time ago). Hence selling the premine before the release doesn't make any sense and he must be holding >= 3%.

[coins101]

...

So I am a newbie to staking. Should I be staking with my coins in my wallet?
So you are saying 5% more coins per year if staking.

Will I only get a reward if I keep it open 24/7/365?

I think this code saying if you are staking 200 days a year you will get 200/365 * 5% reward? So in this case it would be like 2.74%

Thanks

See the video link for keeping your wallet open, but secured for staking
https://bitcointalk.org/index.php?topic=932096.msg10231367#msg10231367

The wallet will work out how many coins to stake. You don't need to do anything other than unlock your wallet, but keep it protected with 2FA.

[dickwhite]

So I am a newbie to staking. Should I be staking with my coins in my wallet?
So you are saying 5% more coins per year if staking.

Will I only get a reward if I keep it open 24/7/365?

I think this code saying if you are staking 200 days a year you will get 200/365 * 5% reward? So in this case it would be like 2.74%

Thanks

Yes, keep your coins in your wallet and unlock it for staking by clicking on the lock and entering your encryption password. Coin staking is a product of weight, time and luck, so you must be patient. Since the minimum stake age is 6 hours, it would be best to have your wallet open 24/7/365, as you may have multiple stakes/day. Theoretically, stake reward is 5%/year of your coin total. However, you will stake less if difficulty is high.

[coins101]

Back in 2015 I made the argument that projects like vTorrent would effectively kill illegal torrent sites.

If crypto projects such as VTR and TPB can show a way to integrate some of the above and perhaps even more, into a wallet, then we will truly have something groundbreaking: P2P was first labelled as a disaster for digital rights owners. What if P2P crypto actually showed rights owners a way to use the medium to make their distribution far more efficient and in so doing switch free seeders into its partner network?

https://bitcointalk.org/index.php?topic=932096.msg10231367#msg10231367

Kodi seems to be doing a pretty good job of that, by allowing people to watch what they want using the bandwidth of the torrent sites. Torrent sites get all the costs but none of the users to click on their advertisers messages, so they just lose money now.

So Kodi is basically a cannibal. At some point there won't be any illegal content to steal.

vTorrent can help speed up the process. Why would people offer free stuff if others are making money selling access and giving royalties to the rights holders?

Once this model is established, we'll probably see hundreds of vTorrent copycats but VTR will be the original.

This is good on a number of fronts from getting investors some serious rewards, but also pushing rights holders down the path of global releases all done at the same time using pay for play torrents.

Coinmarketcap will probably have 20-30 torrent projects. vTorrent should be in the top 5 coins when that reality starts to take shape.

Private trackers will probably still survive as they are mostly done for friendship and community reasons. It's the masses who will switch how they consume torrent media.

[ALCTEC]

https://twitter.com/AgentSoft/status/842160685937250304/photo/1

LMAO

Dude - relax, I'm holding.

Why would I sell now when I can make 10x to 500x if I HODL.

[slugmandrew]

LOL. You got pwned mate 

[hughbt]

Someone just scooped up cheap coins. Congrats
0.00006498   5977.27646961   0.38840342
0.00006500   77364.96184869   5.02872252

I pity the fool who sold his stack for pennies.

[wildduck]

Thanks for who every sold in my buys

[coins101]

@dev

Over the coming months we are going to be building a hardware wallet interface for Helium.

This will use a usb with a standard bank grade encryption to generate keys. So users can let VTR client or USB wallet generate keys.

http://www.microchip.com/wwwproducts/en/ATAES132A

If you want to work on that together so it can go into VTR, PM.  It will work really great with 2FA as a validation check on the USB so even if you lost that, it doesn't matter.

[coins101]

@dev

Over the coming months we are going to be building a hardware wallet interface for Helium.

This will use a usb with a standard bank grade encryption to generate keys. So users can let VTR client or USB wallet generate keys.

http://www.microchip.com/wwwproducts/en/ATAES132A

If you want to work on that together so it can go into VTR, PM.  It will work really great with 2FA as a validation check on the USB so even if you lost that, it doesn't matter.

Let me just clarify that, too.



When you download you, sometimes you don't really know what you're downloading. When I downloaded Bitcoin core 0.14.0, it flags as malware, but only when you run the installer.

If you download a malicious file, it could corrupt the wallet. Having a HD back-up means you can recompile your wallet elsewhere, which is great.

If you need to unlock your wallet at anytime, having some of those funds on a second hardware wallet device means you have another option so you can split funds and always be protected, even for a split second.

[Pickleninja]

I always thought it was a brilliant move for vtr to put 2fa into their wallet, cause one of the first things i thought was "whats keeping some hacker from getting your coins with a trojan?".

Well now we know

[ALCTEC]

Someone just scooped up cheap coins. Congrats
0.00006498   5977.27646961   0.38840342
0.00006500   77364.96184869   5.02872252

I pity the fool who sold his stack for pennies.

+1 That guy's going to cringe looking back at this

[Pickleninja]

Someone just scooped up cheap coins. Congrats
0.00006498   5977.27646961   0.38840342
0.00006500   77364.96184869   5.02872252

I pity the fool who sold his stack for pennies.

+1 That guy's going to cringe looking back at this

Kinda like how i cringe when i use to own 1200 dash back when it was  $1.50 .... i had weak hands back then.

[ALCTEC]

Someone just scooped up cheap coins. Congrats
0.00006498   5977.27646961   0.38840342
0.00006500   77364.96184869   5.02872252

I pity the fool who sold his stack for pennies.

+1 That guy's going to cringe looking back at this

Kinda like how i cringe when i use to own 1200 dash back when it was  $1.50 .... i had weak hands back then.

Yeah I remember mining Dark back in the day and it had that epic pump to $3 lol.

I saw the recent ETH pump coming too, but for some reason just couldn't bring myself to buy any.

[leigh2k14]

5.5K blocks to go, let's see if the autistic mute dev has the skill set to pull it off.

[e1ghtSpace]

5.5K blocks to go, let's see if the autistic mute dev has the skill set to pull it off.

Somehow I don't think the dev is 1 person.