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Author Topic: Vertcoin - 1 | ASIC - 0 | Lyra2RE | Decentralised | GPU Mineable | Open Source  (Read 414513 times)
Henry VII
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February 27, 2017, 12:53:58 AM
 #2681

 Grin last days
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February 27, 2017, 01:36:56 AM
 #2682

Updated info on Segwit for informational Purpose Only


https://www.reddit.com/r/btc/comments/5vbofp/initially_i_liked_segwit_but_then_i_learned/

Quote
You wanted people like me to support you and install your code, Core / Blockstream?

Then you shouldn't have a released messy, dangerous, centrally planned hack like SegWit-as-a-soft-fork - with its random, arbitrary, centrally planned, ridiculously tiny 1.7MB blocksize -
and its dangerous "anyone-can-spend" soft-fork semantics.

Now it's too late. The market will reject SegWit - and it's all Core / Blockstream's fault.

The market prefers simpler, safer, future-proof, market-based solutions such as Bitcoin Unlimited.

Quote
The damage which would be caused by SegWit (at the financial, software, and governance level) would be massive:

    Millions of lines of other Bitcoin code would have to be rewritten (in wallets, on exchanges, at businesses) in order to become compatible with all the messy non-standard kludges and workarounds which Blockstream was forced into adding to the code (the famous "technical debt") in order to get SegWit to work as a soft fork.

    SegWit was originally sold to us as a "code clean-up". Heck, even I intially fell for it when I saw an early presentation by Pieter Wuille on YouTube from one of Blockstream's many, censored Bitcoin scaling stalling conferences)

    But as we all later all discovered, SegWit is just a messy hack.

    Probably the most dangerous aspect of SegWit is that it changes all transactions into "ANYONE-CAN-SPEND" without SegWit - all because of the messy workarounds necessary to do SegWit as a soft-fork. The kludges and workarounds involving SegWit's "ANYONE-CAN-SPEND" semantics would only work as long as SegWit is still installed.

    This means that it would be impossible to roll-back SegWit - because all SegWit transactions that get recorded on the blockchain would now be interpreted as "ANYONE-CAN-SPEND" - so, SegWit's dangerous and messy "kludges and workarounds and hacks" would have to be made permanent - otherwise, anyone could spend those "ANYONE-CAN-SPEND" SegWit coins!

    Segwit cannot be rolled back because to non-upgraded clients, ANYONE can spend Segwit txn outputs. If Segwit is rolled back, all funds locked in Segwit outputs can be taken by anyone. As more funds gets locked up in segwit outputs, incentive for miners to collude to claim them grows.



 Cool

How do the signatures work?  They are separated into two separate blocks so there would be two blockchains running? One would store a block of transactions and a block of signatures?

blockstream put in the FIBRE network to change the topology of the network (as gatekeepers) so that if segwit activates the segwit nodes control what gets filtered down to old native nodes.

in simple terms segwit nodes receive a cluster of data which is one lump of data called the blockweight where the signatures have their own txid to link back to the txid of the baseblock. if they have whitelisted old native nodes they have to send the smaller 'base' block' to old native nodes

its bait and switched to pretend its one network but because the old nodes are not receiving the same data as the segwit nodes. a fresh segwit node wont sync from a native node.

a native node wont receive segwit unconfirmed transactions. so its a 'pretend' single network. but with differing data held and/or relayed.
same goes with segwits pruned nodes. a segwit node wanting a full sync wont sync from a pruned node. so again all these core features are causing issues for the REAL full node count.because not all the nodes hold all the same data.

core have swept under the carpet how they have made anything not segwit as being second class. but pretended its all good because its "compatible"

as you can see below.
on the left is what people for 6-7 years thought the node network looked like. with pools sending out data and EVERYONE sharing the same data.
on the right is how how segwit/fibre has changed the network topology. to centralise segwit as the gate keepers of what data non segwit nodes get


and yes, segwit nodes could simply not whitelist old native nodes and make it reliant on the pools to send data to old nodes, which looking at this image below is the one on the right.(very worse case scenario, but plausible)

EDIT:gmaxwell buzzwords
downstream(old) <-> upstream(segwit) <-> pool
upstream(segwit) <-> pool<-> downstream(old)


its all explained here including the bit about signature/tx data
https://bitcointalk.org/index.php?topic=1760149.msg17607565#msg17607565


FYI:
BTC Miners are rejecting seqwit (only ~30% support)
LTC Miners are rejecting segwit (only ~20% support)

Looks like just you & groestlcoin are activating segwit.
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February 27, 2017, 05:49:22 AM
 #2683

When VTC to the moon guys ?
CULTFRANCE16
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February 27, 2017, 11:42:16 AM
 #2684

VTC should pass by rebrand, and become POS instead of POW.

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February 27, 2017, 12:11:06 PM
 #2685

VTC should pass by rebrand, and become POS instead of POW.
Whats the point of asic resistance when you're gonna go POS??


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CULTFRANCE16
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February 27, 2017, 12:42:50 PM
 #2686

The most important thing is to change and grow. The POS system would boost again the currency up.  Wink


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Sharkzz1
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February 27, 2017, 02:52:08 PM
 #2687

The most important thing is to change and grow. The POS system would boost again the currency up.  Wink


I disagree, i say just keep it the way it is. POS is shit anyways


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Henry VII
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February 27, 2017, 05:42:17 PM
 #2688

Pos for VTC is good idea!
i smell pump coming
the question target of this pump maybe we again hit 6 or more
silencesilence
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February 27, 2017, 07:37:41 PM
 #2689

the market is tired
CULTFRANCE16
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February 28, 2017, 10:50:02 AM
 #2690

The transition to POW > POS, made up NeosCoin more than 2000%. VTC will follow a similar path. POS + SegWit are the key.

# Make VTC great Again.  Cool

Bitstar MarketPlace launch on Q3 - More info: www.bitstarcoin.com
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February 28, 2017, 10:53:30 AM
 #2691

LOL awayting Segwit  Grin
etang6000
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March 01, 2017, 01:41:43 AM
 #2692

The transition to POW > POS, made up NeosCoin more than 2000%. VTC will follow a similar path. POS + SegWit are the key.

# Make VTC great Again.  Cool
We aren't going POS anytime soon, nor have we ever thought about it .
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March 01, 2017, 02:29:58 AM
 #2693

The transition to POW > POS, made up NeosCoin more than 2000%. VTC will follow a similar path. POS + SegWit are the key.

# Make VTC great Again.  Cool
We aren't going POS anytime soon, nor have we ever thought about it .

Sad.... ok.

So... what are the plans for the future of VertCoin? We're curious.  Smiley

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March 01, 2017, 11:36:57 AM
 #2694

The transition to POW > POS, made up NeosCoin more than 2000%. VTC will follow a similar path. POS + SegWit are the key.

# Make VTC great Again.  Cool
We aren't going POS anytime soon, nor have we ever thought about it .

Sad.... ok.

So... what are the plans for the future of VertCoin? We're curious.  Smiley
We will likely come out with an outline/ roadmap after SegWit
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March 01, 2017, 12:59:37 PM
 #2695

is segwit coming today?
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March 01, 2017, 01:05:35 PM
 #2696

posted by jamesl22 [developer] on reddit if you missed: https://www.reddit.com/r/vertcoin/

1.    Vertcoin promotes itself as being ASIC resistant, preferring GPU optimised mining. We believe this helps to decentralise the mining base when compared to Bitcoin which is dominated by two large ASIC manufacturers. We're not large fans of full anon features but stand by privacy features, like stealth addresses and the Lightning network.

2.    Vertcoin pioneered the Scrypt-N, Lyra2RE and Lyra2REv2 mining algorithms, performing successful hard forks for the latter two. We were also one of the first to implement stealth addresses and will be one of the first coins to activate SegWit (which will start signalling today). We also have a fairly dedicated mining community and the hashrate has continued increase since Vertcoin's inception in early 2014.

3.    4. 5. I am essentially the sole core developer of Vertcoin presently. We have a small development fund that we also sometimes use to contract out other development tasks. Due to the small development team and lack of money, I can only contribute when I have time left over from other real-life tasks. That being said, I would say I contribute a good 10-15 hours per week to Vertcoin and thus the coin is certainly maintained. I try to keep my promises when I can. There are others like etang600 who help run the subreddit and various other behind the scenes things.

4.    https://bitinfocharts.com/vertcoin is great for seeing all kind of VTC related stats. For a list of other VTC related goodies check out https://vtconline.org/.



is segwit coming today?

Yes, segwit started signalling today.

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March 02, 2017, 12:45:36 AM
 #2697

https://vertcoin.org/wp/vertcoin-segwit-wallet-release/

Please spread the word. Let pools , exchanges , miners ,and everyone else know .
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March 02, 2017, 02:30:58 PM
 #2698

 Next target (s): 15.5k satoshi
                         34.7k satoshi
                         moon

Hop on board while you can, train is departing tonight UTC  Grin
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March 02, 2017, 04:52:19 PM
 #2699

I will be happy when see this working. I've contacted some Exchanges, and told him about the update.  Smiley


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March 02, 2017, 09:38:33 PM
 #2700

Miners in no hurry to be updated because exchanges no hurry to updated.
Exchanges are not updated in a hurry because the Segwit is not activated.
Vicious circle  Grin
VTC need a battering ram.
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