Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 68. (Read 1356140 times)

So what actually happen after 4 days- is that vericoin changed name to verium? Or I misunderstood something..?

That's a really interesting way to determine block rewards.  Are there any other coins that have tried variable rewards tied to block times or is this a first? 

5 Seconds...


That would be insane.

Hey guys we are putting the finishing touches on Verium, it's running great in testing.  Here is the block reward scheme which is dependent on the blocktime.  It is approximately a reward halving per minute decrease in the target blocktime, via this equation:

Reward = 0.375*exp(0.0116*BlockTime)

This way as the security and performance of the blockchain increases, so too does the cost of creation; but only if the computational power increases, not on a fixed schedule.  Thereby securing the value enhancing properties of a scarce commodity that is imbuing value on the ecosystem, while keeping mining relatively profitable in bear markets, or higher mining cost phases.  The minimum blocktime for Verium will be 5 seconds and the maximum will be about 5.5 minutes.



Next I will post the formula for quantifying blocktime.

Not saying it'll actually reach 3.5 million, but maybe at the least 2 million, leaving more to mine of Verium.

Difficult to forecast the last few hours,  but looks unlikely to get close to 3.5m as things stand. A low total would mean that VRM is scarcer at the outset, which might be a better outcome.

I think all the people that were interested are going to trade in the beginning and at the end, so with 6 days left, I think they'll be there in the last few hours.

Less than 1 week to go

Might see FOMO and last minute buyers

Nobody know. But I only know that not much people interested in VRM ICO even we have Coindesk PR.
RIP for marketing 

About 6 days of ico left. Will the remaining 2 million get sold?

http://www.vericoin.info/ico.html

7 days left.

https://chainz.cryptoid.info/vrc/address.dws?433550.htm

1,064,765.81504161 VRC

https://chainz.cryptoid.info/vrc/address.dws?423762.htm

1,051,472.28651086 VRC


1,064,765.81504161 VRC + 1,051,472.28651086 VRC + 1,074,378.22557512 (from phase 2 so far) = About 3,190,616.32712759 VRC collected so far.

I may have mistake but from my estimate is around 3,053,822 VRC (Phase 1 + Phase 2) sent to VRM ICO then now around 11% from total supply.
Dev or others may confirm exact number later. VRM ICO has 8 days to go I hope more VRC for this ICO.

That's where I plan to buy VRM

What % of your VeriCoin went into the Verium ICO

I think that is where most people would buy for the ico.

https://steemit.com/crypto/@effectstocause/the-crypto-gold-standard-a-currency-and-a-reserve-vericoin-and-verium

Verium: PoW as Commodity not a Currency

Value is proportional to cost

Proof of Stake coins have nearly no cost of creation, making them an effectively free, consensus driven monetary system. This is the primary strength of PoS, but in the context of market dynamics, it also can be a weakness. Obviously maximizing efficiency of a functioning system is optimal, Proof of Stake-Time does this in the most decentralized way, we believe, however value is also proportional to cost. Outside of speculation and deep market penetration dependence, the costs of an ecosystem are a significant factor in forming and stabilizing a required value. Miners in PoW are strongly disincentivized for selling below their costs, which drives both a rise in mining efficiency, as well as forcing value increases on the market to support the mining ecosystem. Having an interdependent, tradable, supply ratio pegged commodity, enables cost driven value of the network despite loss of other value enhancing factors in weak or strong markets. Some costly work can enable inherent value growth of the financial ecosystem, however the costs need not hamper VeriCoin’s costless and trustless system and drive it into centralization like is typically the case with PoW currencies.


A currency and a reserve commodity

Inherent in a mined resource is an ecosystem that is built around mining or acquiring a scarce resource. These miners and companies that enable them, have investments in the ecosystem and the commodity. They aim to invest time, money and resources into work that results in a profitable sale of the commodity. This is exactly how bitcoin functions as a commodity. However, classically in markets the currency and the commodity are not one in the same. They are tied to one another in supply ratios or value. In cryptocurrency we can lock protocol rules to optimize these cost/value relationships and ensure they persist. In particular, if the supply ratio between the two is constant and the consensus is shared, this can be a well leveraged and flexible decentralized ecosystem. Costs can be minimal for money transmission yet required for resource procurement, enabling a market-based organic value cycle as the costly work of reserve procurement also enhances the performance, scalability and security of the currency via auxiliary mining.

Verium will be a reserve commodity enforced by the protocol and VeriCoin would continue to be the currency. This would treat PoW differently in that it would be exclusively a tradable scarce resource. The currency-reserve roles are incentivized via higher minimum send fees of Verium and slower blocktimes, which enables stable, secure mining and dis-incentivizes trading. Transaction speed, VeriBit, merchant acceptance, access, usability, costlessness of VeriCoin are all maintained. This way there are value added costs that are required to enhance the entire system, yet not necessary for a seamless, near costless, fully decentralized currency.

https://www.vericoinforums.com/threads/verium-pow-as-commodity-not-a-currency.1289/

Lets hope so! Last few days of the ICO will be interesting to watch.

Thats great... We could do 5m  I guess...Lets see

Phase 1 about 2.1 million VRC
Phase 2 so far 932127.21879474 VRC

So about 3 million VRC total, for now. The ico is still running so could be more.