silencesilence
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 Offline
Activity: 1120
Merit: 1000
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January 04, 2016, 07:20:02 PM |
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well hope we see a little more price action soon as its hard to trade with current volume... maybe there is a pump incoming  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.  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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kold678
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January 04, 2016, 10:14:46 PM |
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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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volyova
Legendary
Offline
Activity: 910
Merit: 1000
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January 05, 2016, 01:50:54 PM |
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well hope we see a little more price action soon as its hard to trade with current volume... maybe there is a pump incoming 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. 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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jwinterm
Legendary
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Activity: 3010
Merit: 1103
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January 05, 2016, 04:29:49 PM |
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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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volyova
Legendary
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Activity: 910
Merit: 1000
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January 05, 2016, 04:44:43 PM |
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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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pallas
Legendary
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Activity: 2716
Merit: 1094
Black Belt Developer
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January 05, 2016, 04:56:42 PM |
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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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volyova
Legendary
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Activity: 910
Merit: 1000
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January 05, 2016, 05:26:41 PM
Last edit: January 05, 2016, 06:17:41 PM by volyova |
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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? |
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jwinterm
Legendary
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Activity: 3010
Merit: 1103
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January 05, 2016, 07:08:40 PM |
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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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volyova
Legendary
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Activity: 910
Merit: 1000
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January 06, 2016, 09:56:04 AM |
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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.  |
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threedream
Sr. Member
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Activity: 364
Merit: 250
Stand up , Stand up , Stand up !
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January 07, 2016, 09:17:08 AM |
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When prices rise back ?
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I have to get back all the lost .
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volyova
Legendary
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Activity: 910
Merit: 1000
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January 07, 2016, 09:28:10 AM |
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When prices rise back ?
Make a wish. |
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TheCoinFinder
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Activity: 938
Merit: 1001
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January 12, 2016, 08:24:13 PM |
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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.comIts 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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sammy007
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Activity: 1904
Merit: 1003
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January 12, 2016, 10:55:38 PM
Last edit: January 13, 2016, 12:44:59 AM by sammy007 |
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vertcoin.org expired.
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altcointrader25
Newbie
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Activity: 42
Merit: 0
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January 12, 2016, 11:23:22 PM |
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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! |
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kold678
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January 13, 2016, 03:57:32 AM |
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will site be back up soon  |
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avensen
Member
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Activity: 71
Merit: 10
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January 13, 2016, 02:58:02 PM |
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will site be back up soon vertcoin.org works fine now. |
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volyova
Legendary
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Activity: 910
Merit: 1000
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January 15, 2016, 07:17:45 PM |
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Ok, who lost Vertcoins at Cryptsy?
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djnocide
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Activity: 1164
Merit: 1000
Einsteinium Foundation Board Member and Treasurer
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January 15, 2016, 09:35:52 PM |
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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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jwinterm
Legendary
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Activity: 3010
Merit: 1103
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January 15, 2016, 09:48:49 PM |
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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 Nah, it ded, |
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gotchay
Newbie
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Activity: 21
Merit: 0
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January 15, 2016, 09:59:05 PM |
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Sorry guys, I sold my coins a few months ago, turned off my miner, and stopped running a full node. Should've cashed out when it hit $0.50 due to the pump but missed that opportunity.
I really do hope to see this coin succeed but without a team of developers I don't see this happening. Good luck to all the Verters out there and thanks for the memories.
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