Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 473. (Read 1356149 times)

I hope not...i lost my faith in MP. But it will come back i guess.

We are moving to an economics discussion and while some like to believe that "hoarding" hurts a coin, i just don't think that it is ever an issue.  More like just  a talking point.  

For example, India hoards gold and that has been positive for Gold's longevity as a store of value and it's price.  Debeers "hoards" Diamonds and they have for multiple generations maintained an extremely high price for something that many would see as a worthless rock that isn't even rare.......all due to the effect of reducing the supply to the market.  OPEC hoards OIL......CEO's have locked up supplies of shares by owning a high percentage of shares and not selling so the price adjusts higher to those who are willing to sell at that higher price.  Believe me, even with EVERYONE STAKING, as the price of Vericoin goes higher, people will still sell as they see fit.  Given how we know there are those bent on hurting Vericoin and how close we all came to getting 51% attacked....I think everyone should be staking all their coins simply to protect the coin.  Drying up the selling supply is always good and it worked extremely well for Darkcoin as well.  The amount of examples of smart men reducing supply to increase value throughout history is endless.

Lastly, we all have Veribit for Pete's sake.  We can all spend our Vericoins as BTC right from our staking wallet!  We have no need to send to an exchange to convert to BTC then send back to a BTC wallet before buying something.  JUST BUY WHEN YOU WANT TO DIRECTLY FROM YOUR STAKING WALLET.  There is no excuse for not staking all the coins.  Plus you earn more interest.  It's a no brainer.

I understand your focus on the price. But I believe you may be quite wrong in your current assessment. If you take a look at the books at Bittrex, where all the volume is right now, you will see very big amounts of VRC available for purchase... and practically no bids of significance. This doesn't mean there are no buyers, they are, they simply don't make significant bids and buy at the ask.

But This has nothing to do with me personally, I already own some VRC and don't want to purchase any more for now. This has to do with the fact that hoarding of coins is a NEGATIVE for the coin, not a positive, regardless of the effect on the price.

Now, considering that -in my opinion- the Black Hand controls 4.5 million coins at least, the network needs significantly more than 13 million coins staking to be relatively secure... but that is entirely another subject.

Thanks Ian, Following PM

repairwallet

on console worked perfectly!

coblee on reddit, creator of litecoin


poor psnoker... SEC

barabbas, very high staking amounts would only be worrisome for someone who is not in Vericoin and wants to come in with alot of money.  High stake amounts create a price effect similar to a low float stock like Tesla motors.  Since not many Vericoin owners are willing to sell shares, the only variable that can adjust is the price, which is upwards.  So if you want to buy lots of Vericoin and you are worried that the staking is moving up too fast even before all the MintGox coins come out, then you might want to consider loading up on your Vericoin position now.  Just my advice.

A tremendously high staking level combined with good developments from the conference could cause the price to increase very rapidly and strongly upwards.  Yet another reason EVERYONE SHOULD BE STAKING ALL THEIR COINS ALL THE TIME.  Plus it secures the network against 51% attacks.

Ahhh, I understand. With English not being your native language, your posts are sometimes hard to follow. I get where you're coming from now, however.

mintpal will re-adding vrc ?

You might be right. It's going to be interesting.

I would like to give a big thank you to the VRC Dev team and the Dogecoin guy for so brilliantly making things right.  You guys not only saved Mintpal and everyone who had any type of crypto on that exchange but you also saved Vericoin from a 51% attack that would have assuredly killed the coin.  And I don't think you should even say that you will never do this again.  I think every criminal thief out there will think twice about stealing Vericoins now, because now we have proven that justice can be served in crypto.  Next we just have to get a better way of catching the criminals and sending them to jail too.  

p.s. Everyone please keep moving your coins off Mint and into your wallet.  Learn the practice of only putting your coins on an exchange for a few minutes when you need to exchange them.  Then right back to your wallet.  This will reduce your odds of getting MintGox'd by atleast 1000X.  It will also at the same time reduce the chances of the exchange getting targeted in the first place and will secure the entire Vericoin network from anyone planning a 51% attack.  Think of it as your duty.

Thank you for the info on the hangout.

I believe the more significant drop will happen when the scared shitless traders get their coins back from MintPal. That would be the logical initial reaction, I think.

There are 1096 coins missing from my address (VGiycsx1phY9ekeMNbzCHpY2TtXAzNGd4C) on Chainz though.  28k coins has turned into 26917 coins, looking at Chainz

Actually, I'm surprised that the price has stayed in the 30s. I expected a more significant drop in price and then a recovery.

The hangout is scheduled for tonight at 10pm Eastern time.

I don't think you got my meaning at all... I find worrysome that SO MANY coins are in fact staking already, not to mention the many more that are in cool down status. VRC, in order to be successful, has to be widely available for trading and for purchasing of goods. Staking is hoarding and would signal, if in excessive amounts (and those 13 million plus the cooling down ones ARE excessive) to total lack of liquidity... which would be extraordinarily worrysome.

I hope that number decreases very quickly and full liquidity returns to the trading markets and the availability for purchasing when VRC returns to normal.

those coins you see passing by your adress arnt you coins.
I doesnt have to do anything with the hardfork its more like how the blockchainz works.

What you see there is summery of the coin flow and the calculation of the Blockchain because at the end of every block you will still have the legit amount of coins point on your wallet.

Edit: pls correct me if iam wrong i am not an expert!

I need some clarification on something please......  In my wallet, I have two addresses total.  The first address (VGiycsx1phY9ekeMNbzCHpY2TtXAzNGd4C) had just over 28k coins in it.  Second address (VRzsNTFi2bitgQ5fu96tB1ihFrfAxtJPox) had only 3.44 coins in it. So, I tried to transfer the 3.44 coins from (VRzsNTFi2bitgQ5fu96tB1ihFrfAxtJPox) to (VGiycsx1phY9ekeMNbzCHpY2TtXAzNGd4C) so all my coins would be under one address.  What happened though is what I don't quite understand.  Fyi, I'm using Chainz to track this. Looks like the 3.44 coins stayed in the same address, but 1096 coins went to (VF9S9seoip7jvZfeDbj5P1kyNAiUG89bvd) which is an address that I don't have in my wallet. My balance, from within the wallet, isn't showing that I'm missing 1096 coins but Chainz is showing them in the new address (VF9S9seoip7jvZfeDbj5P1kyNAiUG89bvd).  Why did this happen and did these 1096 coins just go somewhere they can't be retrieved?  This fork thing has made me want to dig a little deeper into understanding all of this.  Any explanation would be greatly appreciated.

I wouldn't call it worrisome at all. The fact that there are 13 million staked coins implies that there are quite a few other coins that are currently maturing for staking (or on cooldown). In my own case, at this very moment, only about 1/10th of my coins are staking while the rest are on cooldown. Add in all of those extra coins and the number of coins that have been committed to staking is pretty impressive.

MintPal is currently down to about 6 million from the original 8 million.

PRICE IS FALLING

I know fan boys would find all kinds of excuses, of course, when, in reality, it is a simple logical -and I'd say temporarily at least, inevitable reaction-, but the truth is clear: Price is falling significantly in Bittrex. Currently around 32k which is roughly 22% from where it was before trading was initially halted. And, as far as Bittrex goes, or quite high volume during the last 24 hours.

I would imagine that a lot of people is wanting out right now for two reasons: One, to stay away and protect their investments until the smoke clears out and Two, because even if they still believe in VRC, as most do, they expect to have the opportunity to buy back in cheaper. It is absolutely normal and, again, I'd say inevitable.

Longer term? I am quite sure VRC will greatly benefit from the events we have just lived through and the mainstream reaction will start to be hinted at after the coming Chicago show over the weekend.

It would be quite nice if a hangout could be organized BEFORE the weekend to clear the air for the community as soon as possible, though. I hope it will happen.

Well that's precisely the point, numbnuts, that I am not even remotely who you choose to think I am. As for IE, I don't believe he would be interested in your "wall-to-wall counseling" either, he doesn't seem to be physically framed that way, but I wouldn't know. You see, IE is as far away from me, both racially, physically and philosophically as one can be ... withing the US. And yet, you choose to believe, numbnuts that you are, that we are the same person. Oh well, ask me if I give a fuck.

Or anyone else, for that matter.

That would be great... except that the IRC is CENSORED and therefore no real discussion with opposing views can take place there. That is the ONLY reason why VRC has not been listed in THE WALL OF HONOR.

And, by the way, rather than engaging the so-called "fudsters" here, and therefore facilitate their tasks, most wise people is simply ignoring them, either by not reading their posts or by actually hitting the "ignore" button, which makes the thread much more readable to them.

To go to a censored channel to avoid counterpoints -and fudsters, admittedly plenty of them in the last couple of days-, is not a solution at all, it's sharing a joint, so to speak, between fanboys rather.