[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 385.

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: Monkeys on July 25, 2014, 04:40:27 AM

BARRABAS!!

Stop responding to this nonsense, don't quote the posts, don't use childish language, just be more professional..

You talk about Socal and Wiz not representing the community or VRC in a positive way, well you are doing just the same here.

Rule #1 of the internet: DON'T FEED THE TROLLS

C'mon man. We were on a roll! Now we have to bury this with another page of intelligent conversation, and tbh my brain hurts from trying so hard to lift the IQ of this forum.

Difference is that I DO NOT represent VRC. I have never represented it nor I have been taken as a representative for VRC. I go solo. And I tell it like it is, at least until I gety bored. If I was representing VRC, you would see me maintaining perfect business etiquette, that's why I choose not to represent anything or anyone, because I don't want my freedom limited by my employment, paid or not.

And when someone, anyone, pretend that I have lied, I take that very, very personally, because I never ever do. Ever.

If that is feeding this stupid troll, then guilty as charged. Chances are that I will respond rather direly to anyone accusing me of such.

Whoever chooses to see me as a representation of VRC will be openly kidding themselves. I represent Barabbas, nothing and no one else.

ezimedia

full member

Activity: 212

Merit: 100

Quote from: Bobsurplus on July 24, 2014, 12:39:19 AM

Quote from: lootz on July 24, 2014, 12:36:42 AM

Quote from: Bobsurplus on July 24, 2014, 12:32:31 AM

Quote from: phzi on July 24, 2014, 12:31:14 AM

Quote from: karmalite333 on July 23, 2014, 11:41:30 PM

Ive been buying at 21K, once the dump is over and coin is in more appropriate hands the prices will stably rise back to normal. The problem most people run into is the fear and panic making them dump with the whales, rather than letting them play and wait.

Or, the smart people are walking away from this sham of a blockchain...

You can say that again. This coin is a pure sham!

WHY IS IT A SHAM PLEASE ELABORATE BEFORE I BLOCK YOU WITH THE OTHER FUDDERS..... EXPLAIN WHY

Block me... I dont give two shits. This coin is radioactive, a parasite, a sham because these devs decided to act like Ben Bernanke and bail out MP with a rollback.

That's a sham and even the main dev has left this project due to that!

Going to zero with a bullet!

The main dev has left... who was that... please share... was there not 3 devs... so you are say now there is only 2 devs left... who are you talking about that left.

Monkeys

member

Activity: 112

Merit: 10

Quote from: Monkeys on July 25, 2014, 03:40:03 AM

Quote from: cryptodevil on July 25, 2014, 03:32:30 AM

On another note, how about some nice pics of VeriBit being used to withdraw GBP from a Bitcoin ATM in London?

Flight Tickets purchased via Cheapair with Bitcoin
Hotel room booked and paid via Expedia with Bitcoin

GBP to cover trip expenses, withdrawn via Android Vericoin wallet, through VeriBit.

KaCHing!!!

Thanks Vericoin, you saved someone's bacon when they were left high and dry by a late paying client.

That is the best implementation I have ever see of Verbit.

Great work =)

This, just so much this =)

More of this please!

luisb

newbie

Activity: 43

Merit: 0

Quote from: barabbas on July 24, 2014, 12:24:45 PM

Quote from: altcoinUK on July 24, 2014, 05:10:52 AM

I think the most important and encouraging in the VeriCoin operation is that the devs are still interested in the project and working on adding new features. The price goes up and down, right now is down, but the hard work and the release of usable features will take care of the price increase. This is a legit dev team, as PNosker said they are real people building a real money. This transparency is a very unique attribute in the scam driven alt coin market.

Right now people are upset, but 50-100% price swing happens all the time even with real business operation. In the place Russia where I have been dealing/trading/funding IT, telecom and software companies I had experienced with a few 3000% price drop in the last 25 years, there were dead bodies all over the offices, so this is a very calm environment compared to that one, here is even the crypto-history maker scummer pumper WizRig is alive, so nothing dramatic happened here. Price drops are part of the business, even bitcoin has gone through several swing. Again, the hard work from the devs will take care of the price and the future of the coin still very bright.

Which is very encouraging to me that it seems the Devs are finally working on what really matters, the decentralized app feature. No one cares about VeriBit (why would anyone want it when we can pay with bitcoin, no wonder there is only 6 VeriBit users worldwide), the FIAT feature could be useful for a few people but nothing is innovative nor exciting in the FIAT feature, but a decentralized market place or exchange could be a game changer. Please focus on that and try to roll out at least a basic app that implements decentralized features. As you know there are incredible capable and smart people working on decentralized apps, Ethereum, Skycoin, even ViaCoin with the Counterparty inegration, etc., so the competition is fierce, that's why would be important that the Devs try to release at least a very basic but working decentralized app as soon as it is possible. As you know better than I do you compete with very smart guys like Dr. Wood from Ethereum http://www.gavwood.com/Paper.pdf , but if you have something that works (even if it is a very basic app) you can be the winner in this race.

There are many people like myself who invested a lot into VeriCoin, we are not overly worry about short term price changes and willing to invest lot more if things are going in the right direction. Please implement the decentralized feature and I guaranty you many more investment will come not from pumpers but from real investors.

That is a terrible mistake for nothing can lose more than 100%. That's tops.

You would understand that reading your post after that would be a waste of time, wouldn't you?

Agreed, but he made a point and everyone got it, pitty you are being either too dumb or too troll to stop reading past that point, he just made some really interesting points about minimum viable product and customer development in that and some recent posts. I think you are too "smart" to realize how dumb you are/seem sometimes, take it as you will.

ezimedia

full member

Activity: 212

Merit: 100

Quote from: setup on July 24, 2014, 12:33:04 AM

I don't care about the price actually, because for me VRC is a Long term Investment (if i would care i'd have to cry because i lost 50% of my Investment)
But what really shocks me is the poor quality. Im running the Wallet 1.3.4. I permanently get Network Alert messages from the previous version, that i've uninstalled as discribed. Also Malwarebytes is popping up from time to time and tries to block the wallet.
The fiat button doesn't work (only blanksreen). That's not too bad, because it's in an early stage.
But what really makes me angry is: I don't get any payouts from the miner since days. I told my Problem here and on irc but nothing changed. In Europe the electricity costs are immens, so please take care that it works correctly.

Regards,
Michael

100+

I also get the network alert... notice... a few times a day...

and like you I am not worried about the price... I am holding my coins for long term.. and will promote this coin until the devs give up on it...

Monkeys

member

Activity: 112

Merit: 10

BARRABAS!!

Stop responding to this nonsense, don't quote the posts, don't use childish language, just be more professional..

You talk about Socal and Wiz not representing the community or VRC in a positive way, well you are doing just the same here.

Rule #1 of the internet: DON'T FEED THE TROLLS

C'mon man. We were on a roll! Now we have to bury this with another page of intelligent conversation, and tbh my brain hurts from trying so hard to lift the IQ of this forum.

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: XbladeX on July 25, 2014, 03:46:49 AM

Quote from: barabbas on July 25, 2014, 02:09:28 AM

...
-- 2, Blackcoin has suffered -and continue suffering, still at the lows of many, many months-
even worse dumping than VRC, with no rebound yet -as opposed to the 50% rebound, already, on VRC.
...

LIE MORE... In real there was 2 pump waves... open eyes and see patterns...

to be fair... i don't lie in VRC.

VRC coin like any other can go up...(small PR problem will be rollback but...)
Year later no one will remember probably! Like none remember BTC,LTC fails...
VRC Value will be proportional to work putted into coin and quality of community around it...

PS: barabbas GFTO from BC if you want kep BS keep close facts ok - but don't lie "many, many months"...!

Fucking turd fan-boy...

July, 6 BC trades at high of 23998 . It is trading at 13000, roughly -46% in 17 days.

July 6, VRC trades at high of 40875. It is trading now at 22000, roughly -46% in the same period.

Now let's go back just 1 month.

June 23, high for VRC is 20789. Today is trading at 22000, so it gained roughly 0.5%

June 23 BC's high is 21000. Today it's trading at 13000, a loss of roughly 38%

Who is lying, fucking idiot?

I never, ever lie. Ever.

Out of that pathetic scam coin? I have been out for many months and have been, to a point, a factor in its inevitable demise by uncovering the corruption and manipulation inside with The Black Hand in cahoots with the corrupt to the core dev team... peculiarly, after posting your stupid negating nonsense in many forums, you just posted in the BC forum that The Wiz and the Black Hand, of which he is part, were a dreadful episode for BC. What is it? You coming here pretending shit and then posting there the acknowledgement of what I have been denouncing for months -and that you have, idiotically as usual, pretended to debunk?

You are so fucking pathetic. Almost as pathetic as the coin of which you are cheerleader. Get the fuck out of this coin that has nothing whatsoever to do with the scammy and scummy one you represent and peddle in your signature. Or not. But shut your stupid mouth up in any case and stop making an even more idiot of yourself.

And the lows of "many, many months" cannot be more precise: Once launched, in February, BC was very briefly under 10000 and one has to go back to March-April, after the launching, to find the price below 12000. That's 4 full months, which in crypto not only qualify as "many, many" months but as an eternity, in fact. Turd.

ezimedia

full member

Activity: 212

Merit: 100

I wonder if we could all email.... www.vrc.com and ask them to accept vrc or btc as a payment option...

Then domain vrc.com redirects to http://www.vikingrivercruises.com.au/

I bet in the future there will be people typing in vrc.com in to their web browser and they would come to that site....

How cool would it be if they accept VRC as payment or BTC

Monkeys

member

Activity: 112

Merit: 10

Quote from: XbladeX on July 25, 2014, 04:13:14 AM

Quote from: Monkeys on July 25, 2014, 03:56:09 AM

...
Show me another coin that has any in built mechanism for promoting growth and expansion of the coin (other than the few scam / pyramis scheme coins)? ...

Okey:
I know good coins and no scams here you go:

1st Devcoin- 90% minig goes to Devs
https://bitcointalksearch.org/topic/dvcdevcoin-official-thread-moderated-233997

2nd Memorycoin2.0 - "Memorycoin also devotes a proportional amount of coins to be used by developers."
https://bitcointalksearch.org/topic/ann-memorycoin-modern-cpu-pow-completely-gpuasic-free-no-free-pos-598187

POW - coins so no pyramid... (no POS so no hyped to much)

Sorry, I am guessing English in not your first language. But I don't really understand what you are saying.

Both of those coins sound like scams to me. I mean 90% mining goes to devs = scam.

I dont really see how Memorycoin 2.0 is relevant to my quesiton either.

I appreciate your input. But I was 'referring' (no pun intended) to any other coins with an inbuilt referral program to for self generating growth?

XbladeX

legendary

Activity: 1302

Merit: 1002

Quote from: Monkeys on July 25, 2014, 03:56:09 AM

...
Show me another coin that has any in built mechanism for promoting growth and expansion of the coin (other than the few scam / pyramis scheme coins)? ...

Okey:
I know good coins and no scams here you go:

1st Devcoin- 90% minig goes to Devs
https://bitcointalksearch.org/topic/dvcdevcoin-official-thread-moderated-233997

2nd Memorycoin2.0 - "Memorycoin also devotes a proportional amount of coins to be used by developers."
https://bitcointalksearch.org/topic/ann-memorycoin-modern-cpu-pow-completely-gpuasic-free-no-free-pos-598187

POW - coins so no pyramid... (no POS so no hyped to much)

Monkeys

member

Activity: 112

Merit: 10

Quote from: barabbas on July 25, 2014, 03:27:09 AM

Quote from: socal on July 25, 2014, 02:55:48 AM

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

Why don't you just eliminate what "some might think" and tell everybody how much, exactly, you make per coin? That would eliminate the speculation right off the bat.

But answering your initial question, if people want initiatives done, people have to have those initiatives funded. If a "fund" must be established per project or use the Verifund to cover all, it is only the community that has to put up and fund them. It is quite off-putting and not conducive to donations when there are no projects that require funding, but it would be shortchanging very unfairly this community when in a space of hours it provided the more than $3,000 that were asked for to get the dev team to be at the Chicago conference. This community demonstrated then, and will show many times in the future, that will ge more than generous to fund, widely, any project or program that is supported by a considerable amount of that community. Once again, besides the dev team, the biggest asset of this project is the community that supports it.

Sorry to burst your bubble but you are dealing with pocket change. This is a $5 million plus current value project (or thereabouts). That is serious money. That is a serious project. And the stakeholders will do whatever they believe is necessary or convenient to take that serious investment to achievable and much, much higher levels. The community just needs to know what is needed and for what.

The Verifund,in my humble opinion, is not that great of an idea. It would be much better if the community, and the coin itself, would fund its own growth. Like my referral program idea, if that is just built in to the inflation targets for the coin itself, NOBODY is out of pocket. I mean NOBODY. The growth of the total market cap generated by the growth of the coin would FAR FAR outweigh any effects of inflation of the coin. The infaltion would be directed at those who are promoting the growth of the coin, causing a knock on effect of more and more growth. This could be continued until the coin has reached a stage where it has grown enough that there would no longer be a need for referral rewards, and could be abolished.

Show me another coin that has any in built mechanism for promoting growth and expansion of the coin (other than the few scam / pyramis scheme coins)? Show me another coin that has verification as an option?

If Vericoin can implement just these two things, it would be game over for any other coins. Forget the fiat wallet, that's a tiny gimmick compared to the consequences of verification and self regulated growth and expansion from referrals.

Tell me why that is wrong? I challenge anyone to tell me why this would not result in ANY coin growing faster, and being accepted by mainstream users faster than any other coin ever will?

ezimedia

full member

Activity: 212

Merit: 100

Quote from: pnosker on July 23, 2014, 02:35:21 PM

Quote from: Xosihc on July 23, 2014, 02:06:38 PM

Quote from: altcoinUK on July 23, 2014, 01:59:17 PM

This either must be a joke and these three guys have no idea what they are doing or this a very nicely orchestrated scam with the sole purpose of making US$ 300K-400K and let ppl hold the bag.

You hit the nail on the head. This is a classic case of IT people gone awry. They have no clue what they are doing from a marketing standpoint. I've voiced my opinion on this many times in this chat forum but making the educated decision to present both Wiz and Socal as part of the team has been detrimental to their success.

Also PNosker continuously saying "we don't care about price", "we don't care about traders" is just plain stupid. Either they truly don't care about making money (which seems crazy to me but is plausible) or they don't realize how to run a publicly traded piece of equity, like an altcoin.

IMHO we have the classic case of a team of developers with all the books smarts and none of the street smarts.

Would you like to volunteer? We never said we were marketing geniuses. In fact, we asked for someone to help manage this early on and sdmathis volunteered to be a community manager, but we really need more.

I said we don't care about price in the sense that we will not release news/features specifically to manipulate price. I make enough money to live reasonably without crypto so I don't need to sell off when the coin starts tanking. Doug/David/I all are in the same boat. We're doing this not as unemployed developers looking to make a quick buck but because we saw a void between crypto and the real world and we wanted to fix it. Play the blame game all you want and feel free to speculate more, but we're doing what we can do and if you or someone else wants to help us push with marketing we would really appreciate it. If you honestly think there's a better coin with better real developers and marketing perhaps you can direct us to their information so we can see if we can adapt better. Almost all I see when I look at the selection of coins are scams, developers that have a Google Hangout and curse off investors, etc.

We are real people trying to build a real coin and ecosystem. Believe it or not, it's up to you.

would it be a good idea for members here to write free articles about crypto currency and then submit them to all the free article directories... just put a link in the bottom of the article linking to vericoin.info , now if everyone would just write 1 article and submit that to all the article directories online that would bring a lot of new eyes on to this coin and others.. and get more people in to crypto... it is free to submit article to article directories.. and you could even add your vrc address in it or you btc address in it...

That also is true for press releases... I know you can hire a person from a site like freelancer.com for maybe $50-$100 to write a press release and then submit that to all the press release sites on the net.. there are many just like there are many article directories... maybe we could make a source/marketing html page we could add to vericoin.info so people here know the places they can promote vericoin on..

With such a huge community here and we all want the coin to grow in value , and to do that we need to bring in more people in to crypto and get the word out about vrc....

I do not have money to hire people to make articles or press releases... but I can write some myself and will do... and will submit them to all the sites I know of...

But if we had a vrc marketing pool fund... and people post marketing ideas... maybe we could get something going..
There is no need to hire a pr firm... the money you spend on one we could get a lot of better value from ourself...

also what about if we find a company to print mass vrc bumper stickers.. we could all put them on the back of hour cars... while we drive to and from work..

so many ideas.. to promote this coin.. and most of it can be done for cheap or even free...

don't worry about the price dropping cause that is a bonus for everyone here right now.. as you can get more coins for less...

If the community would market the coin a bit each week it would go along way...

so what do you all think...

XbladeX

legendary

Activity: 1302

Merit: 1002

Quote from: barabbas on July 25, 2014, 02:09:28 AM

...
-- 2, Blackcoin has suffered -and continue suffering, still at the lows of many, many months-
even worse dumping than VRC, with no rebound yet -as opposed to the 50% rebound, already, on VRC.
...

LIE MORE... In real there was 2 pump waves... open eyes and see patterns...

to be fair... i don't lie in VRC.

VRC coin like any other can go up...(small PR problem will be rollback but...)
Year later no one will remember probably! Like none remember BTC,LTC fails...
VRC Value will be proportional to work putted into coin and quality of community around it...

PS: barabbas GFTO from BC if you want kep BS keep close facts ok - but don't lie "many, many months"...!

Monkeys

member

Activity: 112

Merit: 10

Quote from: Monkeys on July 25, 2014, 03:38:12 AM

Quote from: socal on July 25, 2014, 02:55:48 AM

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

Additionally, the value gained from the distribution of the coin to a wider number of people, and the exponential increase and use of the coin would FAR FAR outweigh any effects that the impact of the increased inflation might have on the coin.

Controlled inflation is not a bad thing, inflation has gotten a bad rep by bad management by governments and central banking authorities around the world. Inflation directed in the right places, rewarding self regulating growth of a currency, especially during the establishment period would have knock on effects of continued growth and broader use that would make the tiny payouts of the referral rewards insignificant.

Once implemented, the referral program would result in something in the order of 2-3 new users per referral. So for a 100,000k referral payout, you might see close to half a million Vericoin users.

Trust me, this is the way forward.

Also, if Vericoin wont do it. I will..

I'm actually not joking when I say that I will create what Vercoin could be and more if Vericoin won't do what needs to be done.

I'm all aboard the Vericoin train, but if it's not headed where it needs to go, I'll build my own, smaller but faster =)

Anyways, lets keep the discussion going!

Monkeys

member

Activity: 112

Merit: 10

Quote from: cryptodevil on July 25, 2014, 03:32:30 AM

On another note, how about some nice pics of VeriBit being used to withdraw GBP from a Bitcoin ATM in London?

Flight Tickets purchased via Cheapair with Bitcoin
Hotel room booked and paid via Expedia with Bitcoin

GBP to cover trip expenses, withdrawn via Android Vericoin wallet, through VeriBit.

KaCHing!!!

Thanks Vericoin, you saved someone's bacon when they were left high and dry by a late paying client.

That is the best implementation I have ever see of Verbit.

Great work =)

Monkeys

member

Activity: 112

Merit: 10

Quote from: socal on July 25, 2014, 02:55:48 AM

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

Additionally, the value gained from the distribution of the coin to a wider number of people, and the exponential increase and use of the coin would FAR FAR outweigh any effects that the impact of the increased inflation might have on the coin.

Controlled inflation is not a bad thing, inflation has gotten a bad rep by bad management by governments and central banking authorities around the world. Inflation directed in the right places, rewarding self regulating growth of a currency, especially during the establishment period would have knock on effects of continued growth and broader use that would make the tiny payouts of the referral rewards insignificant.

Once implemented, the referral program would result in something in the order of 2-3 new users per referral. So for a 100,000k referral payout, you might see close to half a million Vericoin users.

Trust me, this is the way forward.

Also, if Vericoin wont do it. I will..

cryptodevil

legendary

Activity: 2240

Merit: 1254

Thread-puller extraordinaire

On another note, how about some nice pics of VeriBit being used to withdraw GBP from a Bitcoin ATM in London?

Flight Tickets purchased via Cheapair with Bitcoin
Hotel room booked and paid via Expedia with Bitcoin

GBP to cover trip expenses, withdrawn via Android Vericoin wallet, through VeriBit.

KaCHing!!!

Thanks Vericoin, you saved someone's bacon when they were left high and dry by a late paying client.

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: socal on July 25, 2014, 02:55:48 AM

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

Why don't you just eliminate what "some might think" and tell everybody how much, exactly, you make per coin? That would eliminate the speculation right off the bat.

But answering your initial question, if people want initiatives done, people have to have those initiatives funded. If a "fund" must be established per project or use the Verifund to cover all, it is only the community that has to put up and fund them. It is quite off-putting and not conducive to donations when there are no projects that require funding, but it would be shortchanging very unfairly this community when in a space of hours it provided the more than $3,000 that were asked for to get the dev team to be at the Chicago conference. This community demonstrated then, and will show many times in the future, that will ge more than generous to fund, widely, any project or program that is supported by a considerable amount of that community. Once again, besides the dev team, the biggest asset of this project is the community that supports it.

Sorry to burst your bubble but you are dealing with pocket change. This is a $5 million plus current value project (or thereabouts). That is serious money. That is a serious project. And the stakeholders will do whatever they believe is necessary or convenient to take that serious investment to achievable and much, much higher levels. The community just needs to know what is needed and for what.

CodeHunter

newbie

Activity: 42

Merit: 0

Quote from: Monkeys on July 25, 2014, 02:26:42 AM

Just to clarify my comment.

It is likely coincidence, but has anyone noticed that the price has stabilized since the discussions here turned from nonsense and FUD, to actual real constructive intelligent discussion?

Coincidence, probably. But it certainly couldn't hurt to show some more professionalism and intellect in here.

If I was a potential investor and I came here to read what has been going on the last few weeks, that would be it for me. Would not give it another thought.

The fudders come here when there's action in the VRC market. They've calmed down now because VRC found a bottom.

Monkeys

member

Activity: 112

Merit: 10

Quote from: socal on July 25, 2014, 02:55:48 AM

true the interest implementation would be better for bigger bag holders but then with the 5-10 VRC per ref who would fund that and keep it funded? The VeriFund is consistently short due to lack of donations and, even more importantly, lack of miners on the multipool. I have been giving the Fund its cut of my Lotto ticket sales but thats only about 1000 VRC to the Fund so far and it's cut of the Coin sales (~1.9 BTC) will be given in a few weeks when the coins actually get shipped and are paid for in full. Thats not enough to fund a project like that (and proves that I am not profiting as heavily as some might think) As for the miners I keep mine on the VRC multipool but I only have 4.4 MH/s scrypt and 46 GH/s SHA-256 so they aren't making much in fees off of me.

It would be funded by the coin itself of course.

5 VRC per referral is not much when you think about it. Even 100,000 referrals is only 500k VRC, roughly 2.5% of the current supply. It would barely affect inflation at all.

I highly doubt that VRC would see that number of referrals within a single year, especially at the beginning. Also that figure could be scaled as VRC grows. Currently it's worth roughly $.2 per VRC, so 5 VRC would be a. $1 bonus. Scale that number accordingly as VRC grows, and the incentive is still there, while keeping inflation to a minimum.

This is the way to grow the coin.

Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 385. (Read 1356147 times)