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Author Topic: Vertcoin - 1 | ASIC - 0 | Lyra2RE | Decentralised | GPU Mineable | Open Source  (Read 414324 times)
silencesilence
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January 04, 2016, 07:20:02 PM
 #1681

well hope we see a little more price action soon as its hard to trade with current volume... maybe there is a pump incoming  Roll Eyes

Just wait long enough, eventually we will see another pump like we did see a couple of months ago.
For some reason vertcoin has become a pump & dump coin, investors lost their confidence clearly.
What would somebody want with six million Vertcoins? Discuss.

You hold 1/4 the coins at that point.

Lets just say you come out with something that everyone wants, or at least a group of people need, and you only take Vertcoin as payment. And you keep holding the incoming coins. Or lets say you just buy most of the available coins left and keep mining tough with 100+ GPUs, all the while doubling (or more) the hashrate by purchasing a massive amount of power from nicehash. Then you can keep a lot of the created coins and keep buying the inventory. Eventually your only left with holders and those who can only mine a tiny amount of coins for a very high cost and won't sell for cheap anymore.

Imagine if you had a whole group of well funded people doing any the above together.

You could also just inflate the volume on a bunch of exchanges by buying a lot and moving the coins around making a massive pump, but instead of dumping (you cant dump 6 million coins...) you sustain the pump by one of the means listed above.

I've been thinking about offering a ton of bounties to get the attention back on this coin again. Its my favorite coin, I've been mining and buying since almost day one, and I hold a fair share. Its in my best interest and that of many others to bring this coin back into the spotlight. But not until we get all the floating coins for dirt cheap first. No need to start the wave too soon. We have plenty of time.  Wink

BTW. With the Vertcoin price being way below the cost to mine its a great time to have a strong accumulation phase right now. I picked up another hundred thousand or two for a few BTC this last week or so. If it goes down lower or stays this low I'm going to keep mining other coins and converting to Vert because I think we can easily go 10X higher than this again given the right push in the future. Me and some friends/contacts have a few plans in the works...
So really what you are saying is that, if someone has six million Vert then, at some point a pump must be inevitable?

1/4 from all Vertcoin in 1 address -> it's dangerous for every coin
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January 04, 2016, 10:14:46 PM
 #1682

yes some attention is needed and a little update on the coin from the devs every few weeks would be good because as much as people say they dont have to ,new investors in anything like tech support. As well as getting it out there mainstream again,one of the few original coins still alive and well..
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January 04, 2016, 10:21:29 PM
 #1683

How is  Elasticity going?
Thanks

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January 05, 2016, 01:50:54 PM
 #1684

well hope we see a little more price action soon as its hard to trade with current volume... maybe there is a pump incoming  Roll Eyes

Just wait long enough, eventually we will see another pump like we did see a couple of months ago.
For some reason vertcoin has become a pump & dump coin, investors lost their confidence clearly.
What would somebody want with six million Vertcoins? Discuss.

You hold 1/4 the coins at that point.

Lets just say you come out with something that everyone wants, or at least a group of people need, and you only take Vertcoin as payment. And you keep holding the incoming coins. Or lets say you just buy most of the available coins left and keep mining tough with 100+ GPUs, all the while doubling (or more) the hashrate by purchasing a massive amount of power from nicehash. Then you can keep a lot of the created coins and keep buying the inventory. Eventually your only left with holders and those who can only mine a tiny amount of coins for a very high cost and won't sell for cheap anymore.

Imagine if you had a whole group of well funded people doing any the above together.

You could also just inflate the volume on a bunch of exchanges by buying a lot and moving the coins around making a massive pump, but instead of dumping (you cant dump 6 million coins...) you sustain the pump by one of the means listed above.

I've been thinking about offering a ton of bounties to get the attention back on this coin again. Its my favorite coin, I've been mining and buying since almost day one, and I hold a fair share. Its in my best interest and that of many others to bring this coin back into the spotlight. But not until we get all the floating coins for dirt cheap first. No need to start the wave too soon. We have plenty of time.  Wink

BTW. With the Vertcoin price being way below the cost to mine its a great time to have a strong accumulation phase right now. I picked up another hundred thousand or two for a few BTC this last week or so. If it goes down lower or stays this low I'm going to keep mining other coins and converting to Vert because I think we can easily go 10X higher than this again given the right push in the future. Me and some friends/contacts have a few plans in the works...
So really what you are saying is that, if someone has six million Vert then, at some point a pump must be inevitable?

1/4 from all Vertcoin in 1 address -> it's dangerous for every coin
Why?
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January 05, 2016, 04:29:49 PM
 #1685

...

1/4 from all Vertcoin in 1 address -> it's dangerous for every coin
Why?

It's kind of strange more than anything else. Almost like a trophy for someone. I don't think it's really dangerous, per se, but I think it is kind of off-putting to people considering buying/mining/using Vertcoin - why would you want to use a "currency" when one single address holds 25% of all that exist. It's possible it is an exchange's cold wallet address, but I've had people tell me that's not the case. It would be trivial for the owner to split the massive sum into many smaller addresses, giving the illusion of a broader distribution of the coin, but they choose not to do that, which is why I said maybe it is like a trophy for someone.
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January 05, 2016, 04:44:43 PM
 #1686

...

1/4 from all Vertcoin in 1 address -> it's dangerous for every coin
Why?

It's kind of strange more than anything else. Almost like a trophy for someone. I don't think it's really dangerous, per se, but I think it is kind of off-putting to people considering buying/mining/using Vertcoin - why would you want to use a "currency" when one single address holds 25% of all that exist. It's possible it is an exchange's cold wallet address, but I've had people tell me that's not the case. It would be trivial for the owner to split the massive sum into many smaller addresses, giving the illusion of a broader distribution of the coin, but they choose not to do that, which is why I said maybe it is like a trophy for someone.
Or a message.
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January 05, 2016, 04:56:42 PM
 #1687

Show me a coin which doesn't have such a distribution.
Or a fiat currency :-)
That's how things work in this world.

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January 05, 2016, 05:26:41 PM
 #1688

...

1/4 from all Vertcoin in 1 address -> it's dangerous for every coin
Why?

It's kind of strange more than anything else. Almost like a trophy for someone. I don't think it's really dangerous, per se, but I think it is kind of off-putting to people considering buying/mining/using Vertcoin - why would you want to use a "currency" when one single address holds 25% of all that exist. It's possible it is an exchange's cold wallet address, but I've had people tell me that's not the case. It would be trivial for the owner to split the massive sum into many smaller addresses, giving the illusion of a broader distribution of the coin, but they choose not to do that, which is why I said maybe it is like a trophy for someone.
Someone is being honest about what they are doing. It's a strange concept in the money markets, isn't it?
jwinterm
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January 05, 2016, 07:08:40 PM
 #1689

Show me a coin which doesn't have such a distribution.
Or a fiat currency :-)
That's how things work in this world.

C'mon, 25% in a single address. That's like Warren Buffett owning the entire state of California or something.
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January 06, 2016, 09:56:04 AM
 #1690

Show me a coin which doesn't have such a distribution.
Or a fiat currency :-)
That's how things work in this world.

C'mon, 25% in a single address. That's like Warren Buffett owning the entire state of California or something.
Actually, he owns 51% of California.  Cheesy Cheesy Cheesy
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January 07, 2016, 09:17:08 AM
 #1691


When prices rise back ?

I have to get back all the lost .
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January 07, 2016, 09:28:10 AM
 #1692


When prices rise back ?
Make a wish.
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January 12, 2016, 08:24:13 PM
 #1693

I send 2 coins to my webwallet;  https://wallet.coinme.ca   yesterday...nothing.
 Is it still working ?


No, this one hasn't worked since the original fork waaaay back when.

I therefore set one up since that works fine (and has done since):

https://wallet.thisisvtc.com

Its a trustless wallet in that the system never stores your private key (so don't lose your password as I can't access the coins!)


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escalicha
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January 12, 2016, 10:43:21 PM
 #1694

How is  Elasticity going?
Thanks

Any info about it?

sammy007
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January 12, 2016, 10:55:38 PM
 #1695

vertcoin.org expired.

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January 12, 2016, 11:23:22 PM
 #1696


It's kind of strange more than anything else. Almost like a trophy for someone. I don't think it's really dangerous, per se, but I think it is kind of off-putting to people considering buying/mining/using Vertcoin - why would you want to use a "currency" when one single address holds 25% of all that exist. It's possible it is an exchange's cold wallet address, but I've had people tell me that's not the case. It would be trivial for the owner to split the massive sum into many smaller addresses, giving the illusion of a broader distribution of the coin, but they choose not to do that, which is why I said maybe it is like a trophy for someone.
Someone is being honest about what they are doing. It's a strange concept in the money markets, isn't it?

Pumpstribution!
kold678
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January 13, 2016, 03:57:32 AM
 #1697

will site be back up soon
 Huh
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January 13, 2016, 02:58:02 PM
 #1698

will site be back up soon
 Huh

vertcoin.org works fine now.
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January 15, 2016, 07:17:45 PM
 #1699

Ok, who lost Vertcoins at Cryptsy?
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January 15, 2016, 09:35:52 PM
 #1700

Ok, who lost Vertcoins at Cryptsy?

Not completely lost, cryptsy is not yet close, there's still a little bit of chance for this exchange to come back
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