Vertcoin - 1 | ASIC - 0 | Lyra2RE | Decentralised | GPU Mineable | Open Source

[LTCMAXMYR]

what's up with that price? for the moment basement, without asic and fly like an airplane hit :/

gpu miner facts #1 A gpu miner can't hold a coin for more than 10minutes without trying to dump it in a exchange  
gpu miner facts #2: a gpu miner miner wants always to sell his coin first, no matter what
gpu miner facts #3: Sell panic is the normal state of mind of gpu miners, because they always thinks other gpu miner will try to sell first and lower than them... and actually that's what they do
gpu miner facts #4: gpu miners love to complain about how unprofitable a coin is, that's why they don't care about keeping a coin profitable

(better than Chuck Norris facts, Gpu miner facts)
 

so,change algo ,means kick off the asic miner,and leave behind the GPU miner dumping the price to  floor?
and dev kill the coin?
the profit is very low now,it is not worth to mine and dump.

[djm34]

what's up with that price? for the moment basement, without asic and fly like an airplane hit :/

gpu miner facts #1 A gpu miner can't hold a coin for more than 10minutes without trying to dump it in a exchange 
gpu miner facts #2: a gpu miner miner wants always to sell his coin first, no matter what
gpu miner facts #3: Sell panic is the normal state of mind of gpu miners, because they always thinks other gpu miner will try to sell first and lower than them... and actually that's what they do
gpu miner facts #4: gpu miners love to complain about how unprofitable a coin is, that's why they don't care about keeping a coin profitable

(better than Chuck Norris facts, Gpu miner facts)
 

so,change algo ,means kick off the asic miner,and leave behind the GPU miner dumping the price to  floor?
and dev kill the coin?
the profit is very low now,it is not worth to mine and dump.

never said it was logical 

[fetcher]

New blog post: Vertcoin Roadmap

https://vertcoin.org/wp/vertcoin-roadmap/

1. PR Campaign
2. Hyper-Adaptive Block Confirmation (HABC)
3. Final discussion on subsidy reduction
4. Final discussion on increasing block maturity time

In my opinion, this is the wrong order, and it should be exactly reversed. I don't think it makes sense to try an launch a PR campaign, while promising a new feature and leaving some very critical issues (altering coin emission primarily and block maturity secondarily) to be determined at some later date. It's like, "hey guys, check out this awesome coin that we're gonna try and add a cool new feature to, and we may or may not change some critical details about the coin as well." I think the block maturity and coin emission issues should definitely be put to bed before any PR campaign, and ideally any awesome new features should be added before spending a bunch of money trying to market vertcoin. Just my two mVTC.

It's in this order primarily because we don't want to have to change the subsidy or block maturity time ideally. Thus we will only need to continue with these points if the PR campaign fails to solve the lack of investment we are seeing. HABC will take some time to implement and test fully, and we don't want Vertcoin to have no PR for that long.

Why would someone want to invest in something that can't commit to a defined schedule for coin emission? I'm not in favor of changing the subsidy either, but I think  keeping it on the table amounts to uncertainty in the coin's future, and that uncertainty makes it more difficult for anyone to have confidence in vert.

do listen to that guy.

[Akvilon_v]

Ёбaный в poт, блядь. Зaeбaли yжe c нoдaми, пyлaми и пpoчeй тexничecкoй xyйнёй вoзитьcя. Инфляция и тaк yжe вepтyxaю в poт дaлa пo caмыe глaнды. Пoкa мoнeтa пo пиздe нe пoйдeт пoлнocтью, дeвы чecaтьcя нe бyдyт. Пиздeц нaxyй.

Make anything with inflation!

[poiuty]

Taк oни xoтят чтo-тo cдeлaть c инфляциeй. Ho ecли этo oпять pacтянeтcя нa гoд - в этoм нe бyдeт никoгo cмыcлa.

PR now will not work. Make anything with inflation.

For PR - we need make new site. We need to help those who want to accept payment in vertcoin on website/ online store.
We need to make a list of "where you can spend vertcoin" on the main site.
We need to do a separate own forum.

[fetcher]

зaчeт, пapни.

we need to decrease block reward x15-20 times from now.

[Akvilon_v]

Taк oни xoтят чтo-тo cдeлaть c инфляциeй. Ho ecли этo oпять pacтянeтcя нa гoд - в этoм нe бyдeт никoгo cмыcлa.

Дык, oпepaтивнo мyтить нaдo. Пoкa чтo cлышим cлeдyющee:
- Кaк пoлeт, Maэcтpo?
- Bce нopмaльнo! Пaдaю!  

Show me buisness, which is ready to accept vertcoin with 90% inflation value. Only crazy one, I guess.

First, need decrease subsidy.
Second, after solving inflation problems, must make more real and virtual goods available to buy for vert. Sellers and buyers must experience the benefits using vertcoin.
Without this things any PR is pointless.

Клятыe кaпитaлиcты, кaк дeти мaлыe, чecтнoe cлoвo.

Imho, technically vert is the best coin, lyra2 is great, but dev's quickness in decision-making strongly depresses.
Kind regards, твoй кpoлик нaпиcaл. )))

[randywald]

зaчeт, пapни.

we need to decrease block reward x15-20 times from now.

Mining is not the problem. The problem is that no one is interested in the coin which i clearly see in daily trading volume.

[Akvilon_v]

Mining is not the problem. The problem is that no one is interested in the coin which i clearly see in daily trading volume.

~29.000 daily mined coins not a problem? That's about 10 miilion coins per year. In present it means 50% "natural" inflation value. Giant as bitcoin has 10% value, litecoin - 30%. Vert is not such strong yet to deal with such negative. In my experience, 1 year is a boundary, beyond which is coin's new life or death(not counting the protracted agony). It's time to make responsible decisions now.

[randywald]

Mining is not the problem. The problem is that no one is interested in the coin which i clearly see in daily trading volume.

~29.000 daily mined coins not a problem? That's about 10 miilion coins per year. In present it means 50% "natural" inflation value. Giant as bitcoin has 10% value, litecoin - 30%. Vert is not such strong yet to deal with such negative. In my experience, 1 year is a boundary, beyond which is coin's new life or death(not counting the protracted agony). It's time to make responsible decisions now.

Ok, right what you said, but please don't forget:

29000 coins is not much money the market needs to absorb.

29000 x $0.02 = $580.

[fetcher]

Mining is not the problem. The problem is that no one is interested in the coin which i clearly see in daily trading volume.

~29.000 daily mined coins not a problem? That's about 10 miilion coins per year. In present it means 50% "natural" inflation value. Giant as bitcoin has 10% value, litecoin - 30%. Vert is not such strong yet to deal with such negative. In my experience, 1 year is a boundary, beyond which is coin's new life or death(not counting the protracted agony). It's time to make responsible decisions now.

Ok, right what you said, but please don't forget:

29000 coins is not much money the market needs to absorb.

29000 x $0.02 = $580.

$580 x 30 = $17400 monthly

and

MARKET CAP (USD)
$158,034 atm

see what I mean?

[Akvilon_v]

Ok, right what you said, but please don't forget:

29000 coins is not much money the market needs to absorb.

29000 x $0.02 = $580.

At this point price in USD doesn't matter for coin's life, important is capitalisation. I tell you, that vert is not strong yet, regular dumps will kill coin in nearest future, because total vert capitalization soon may be not enough just for development support. In current conditions altcoin development and PR needs money, money and money again.
Inflation is main, but not the only problem now.

[djm34]

Mining is not the problem. The problem is that no one is interested in the coin which i clearly see in daily trading volume.

~29.000 daily mined coins not a problem? That's about 10 miilion coins per year. In present it means 50% "natural" inflation value. Giant as bitcoin has 10% value, litecoin - 30%. Vert is not such strong yet to deal with such negative. In my experience, 1 year is a boundary, beyond which is coin's new life or death(not counting the protracted agony). It's time to make responsible decisions now.

I am still amazed that when something doesn't go as planned, someone asks for a change in block reward...
This strategy has always failed, I can't find any coin on which it was done successfully, and yet there are always someone asking for it...

[LTCMAXMYR]

Mining is not the problem. The problem is that no one is interested in the coin which i clearly see in daily trading volume.

~29.000 daily mined coins not a problem? That's about 10 miilion coins per year. In present it means 50% "natural" inflation value. Giant as bitcoin has 10% value, litecoin - 30%. Vert is not such strong yet to deal with such negative. In my experience, 1 year is a boundary, beyond which is coin's new life or death(not counting the protracted agony). It's time to make responsible decisions now.

I am still amazed that when something doesn't go as planned, someone asks for a change in block reward...
This strategy has always failed, I can't find any coin on which it was done successfully, and yet there are always someone asking for it...

agreed, decrease block reward cannot save a coin,such as quarkcoin,fast reduce,and fast be ash

[Akvilon_v]

I am still amazed when something doesn't go as planed, someone is asking for a change in block reward...
This strategy has always failed, I can't find any coin on which it was done successfully, and yet there are always someone asking for it...

I'll tell you the only right strategy for any altcoin(for example, darkcoin):
1. survive any way;
2. wait for competitor's death;
3. grow up.

Dangerous is not price per coin, dangerous is total capitalisation.

[sammy007]

If you want shiny days again, dump the rest of your LTC regardless of it's price while it still breathing and buy VTC. The one and only reversal I see ATM. I did it today.

[TheCoinFinder]

Reducing the subsidy will not change anything.

A 50VTC block at 0.00006 or a 25VTC block at 0.00012 - contain the same amount of tradeable value. VTC has been at both, and far higher also.

The coin has been around for 11 months now (in two weeks, it will be a year) - so of course the Market Cap is 1/12th of the monthly created value - This is because there was no Premine so the distribution is wholly even (until the normal halvening that will occur).

The issue then isn't 50vtc or that every miner may want to dump their coins (illogically or not) - its that 50vtc isn't worth a damn lot these days, and changing that to 25, 10, 5 or even 1vtc per block won't change that.

We need reasons for people to want to buy the coin.

[q327K091]

give coin time , I hope you all have full time jobs here, it is not like VERT is alone in this predicament, coin in my signature is in the same predicament as well and that despite having former core bitcoin developer doing planning and work

I say let the blockchain run its course pools are working lyra2re is performing exceptionally well, and market price is on par with the rest , blockain is stable nodes are stable, let it roll...

you all make me smile sometimes , coin is barely one year old and some of you expect a sky  

cool write up here btw

http://newsbtc.com/2014/12/08/another-anti-asic-cryptocurrency-launched/

developer that modified wallet for lyra2re did much more than just code lyra2... copy here as well

SHAKE320 – The New POW Algorithm
The new algorithm is aiming to reduce mining costs by completely eradicating ASICs from the picture. A small description of KSHAKE320 describes it as a “new Proof-Of-Work algorithm (POW) based on the Keccak-F 1600 Sponge function in a mode called Extendable-Output (a.k.a. SHAKE). SHAKE’s variable output makes it ideal for a Proof-Of-Work solution, as it can easily be configured to require large amount of memory which increases the computing cost to those attempting to perform large-scale ASIC attacks.”

Incidentally, Vertcoin is also using the hash function Keccak in its chain algorithm, which also includes other algorithms like Skein, Groestl, Blake and Lyra2. However, the Kryptohash developers have implemented a 320-long mining hash, while Vertcoin uses the 256 one. Also, there is no mention of SHAKE in the Lyra2E whitepaper, which makes KSHAKE320 a truly unique algorithm thanks to handful of new features..

[Akvilon_v]

Reducing the subsidy will not change anything.

A 50VTC block at 0.00006 or a 25VTC block at 0.00012 - contain the same amount of tradeable value. VTC has been at both, and far higher also.

The coin has been around for 11 months now (in two weeks, it will be a year) - so of course the Market Cap is 1/12th of the monthly created value - This is because there was no Premine so the distribution is wholly even (until the normal halvening that will occur).

The issue then isn't 50vtc or that every miner may want to dump their coins (illogically or not) - its that 50vtc isn't worth a damn lot these days, and changing that to 25, 10, 5 or even 1vtc per block won't change that.

We need reasons for people to want to buy the coin.

Agree. But:
1. Many miners are enough clever now(not only vtc miners), they sell coins as soon as they get them. VTC miners have no reasons to keep coins, because tomorrow they can buy it at lower price if needed.
2. I don't see now any reasons for people to buy vert, when it's price is being dropped every month.
3. You are wrong about "same amount of tradeable value", because it's not the reason. The reason is that amount of "new" emissioned coins grows too fast and automatically decreases price of "old" coins.
4. As a matter of fact, there is no buisness to accept instrument of payment with 90% annual inflation rate. This is called a suicide. This instrument must be stable or increase own price for a long term.
5. I don't think, that coin holding is good thing for coin. Circulation - is the only way for coin to survive. At current levels of inflation healthy circulation is impossible.

Ёбaный бaбaй нaxyй, чeмy вac в Пpинcтoнax, Гapвapдax и пpoчиx Copбoннax yчaт, a? Пpocтeйшиe иcтины нe вкypивaeтe. Пoлный пиздeц, блядь, c мaтepиaльнoй чacтью.

[q327K091]

Reducing the subsidy will not change anything.

A 50VTC block at 0.00006 or a 25VTC block at 0.00012 - contain the same amount of tradeable value. VTC has been at both, and far higher also.

The coin has been around for 11 months now (in two weeks, it will be a year) - so of course the Market Cap is 1/12th of the monthly created value - This is because there was no Premine so the distribution is wholly even (until the normal halvening that will occur).

The issue then isn't 50vtc or that every miner may want to dump their coins (illogically or not) - its that 50vtc isn't worth a damn lot these days, and changing that to 25, 10, 5 or even 1vtc per block won't change that.

We need reasons for people to want to buy the coin.

Agree. But:
1. Many miners are enough clever now(not only vtc miners), they sell coins as soon as they get them. VTC miners have no reasons to keep coins, because tomorrow they can buy it at lower price if needed.
2. I don't see now any reasons for people to buy vert, when it's price is being dropped every month.
3. You are wrong about "same amount of tradeable value", because it's not the reason. The reason is that amount of "new" emissioned coins grows too fast and automatically decreases price of "old" coins.
4. As a matter of fact, there is no buisness to accept instrument of payment with 90% annual inflation rate. This is called a suicide. This instrument must be stable or increase own price for a long term.
5. I don't think, that coin holding is good thing for coin. Circulation - is the only way for coin to survive. At current levels of inflation healthy circulation is impossible.

Ёбaный бaбaй нaxyй, чeмy вac в Пpинcтoнax, Гapвapдax и пpoчиx Copбoннax yчaт, a? Пpocтeйшиe иcтины нe вкypивaeтe. Пoлный пиздeц, блядь, c мaтepиaльнoй чacтью.

maybe this is your opinion, I don't know who is selling but lyra2 is chewing up energy as well I can feel my black boxes heating up thank God it is winter at least they dont short circuit breakers as was the case with Scrypt-N, Scrypt-N also made many LTC Gear customers very unhappy when it was suddenly switched off

anyone that is selling VERT right now is taking negative FIAT maybe for the pleasure of conversion but it is just plain stupid if you ask me

in short we are all victims of temporary setback in the crypto currency, strong American economy strong American dollar and cheap gas on the top of it (they are telling me is going to be even cheaper, so you should see FIAT escaping speculative markets including alt coins) probably into the next year

all rest are folks that lare trying to recover GPU/energy costs by converting coins but it is negative so I have no idea how they do it