Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 793. (Read 1356163 times)
June 16, 2014, 09:33:14 AM
Big candle at Bittrex, might be the last time to get some cheap coins. I am still amazed this coin is not higher with these features incoming.
June 16, 2014, 09:04:34 AM
I have "Spendable" Vericoin shown in my wallet, but am unsure of how to make my coins begin to "stake". They have been in my wallet for about 24 hours. Do I need to do something in order to allow the coins for staking? I show 14 active connections to the Vericoin network and when I hover my mouse over the logo in the bottom right corner of wallet I am told:
Staking.
Network interest rate is: 2.13923%
Network stake is: *******
Expected time to earn interest is: 8 hours
Are my coins currently considered "staked"? I show zero in "Stake:" in the top left corner of the wallet. and show all my coins in the "Spendable:...."
Also in order for coins to be staked must they be left on the open wallet on a computer harddrive or will they stake when left in cold storage as well (from what I understand they do not)? I'm new to the whole staking technology and am just trying to get a grasp & fully understand. I have read the entire forum here as well as other places, but was unable to answer my questions so I figured I'd resort to asking.
Also once coins are "staked" how long does it take for them to become "spendable" again. I'm failing to grasp what "staking" actually does for the coin. Is it setting our coins aside to be used by the system in some way?
I would really appreciate someone to explain a little in detail "staking" to a newb. I appreciate any and all answers or help I may receive ahead of time!
Staking.
Network interest rate is: 2.13923%
Network stake is: *******
Expected time to earn interest is: 8 hours
Are my coins currently considered "staked"? I show zero in "Stake:" in the top left corner of the wallet. and show all my coins in the "Spendable:...."
Also in order for coins to be staked must they be left on the open wallet on a computer harddrive or will they stake when left in cold storage as well (from what I understand they do not)? I'm new to the whole staking technology and am just trying to get a grasp & fully understand. I have read the entire forum here as well as other places, but was unable to answer my questions so I figured I'd resort to asking.
Also once coins are "staked" how long does it take for them to become "spendable" again. I'm failing to grasp what "staking" actually does for the coin. Is it setting our coins aside to be used by the system in some way?
I would really appreciate someone to explain a little in detail "staking" to a newb. I appreciate any and all answers or help I may receive ahead of time!
Staking gets you a percentage of interest that is variable depending of what you hold. You need to have the coins in your running wallet for half a day or so before they begin to generate interest.
The wallet must be up and running. The more coins you hold, more is to stake, therefore bigger the interest.
Payouts occur once in a while, few times a day - keep in mind what you stake dictates interest payouts - and you can check the estimate hovering over the right bottom blue VRC logo in the wallet.
You won't be able to access your coins at stake. They are hold in the wallet as unspendable, because obviously you can't generate interest with them and sell them at the same time. Think of it as a savings account. If you touch it you'll lose its yearly interest. Difference here is that you can't touch it, until interest clears. It clears out pretty quick though.
Hope this is helpful.
Thank you, after restarting my wallet application and allowing it to sit overnight something must have reset because I am now happily staking. Thanks again for the quick response. I'm still curious exactly what the coins are being used for while "staking" or is it just purely an incentive to hold onto coins and keep the network up and running?
June 16, 2014, 08:07:44 AM
VRC up 10% today at 12k. Looking good! 
I'm letting mine stake. Keep up the great work guys.
I'm letting mine stake. Keep up the great work guys. June 16, 2014, 06:44:45 AM
Deutsche Bank is getting a report tomorrow stating that VeriCoin is environmentally much friendlier than BTC and LTC and offers very fast, low fee transactions. If they like the report from one of their researchers they will consider a "high risk alternative investment" in it. I wish I had more details but I guess we will see what happens over the next couple of weeks! :-D
Thanks to our ANON testers we have ironed out a couple of bugs. Really looking forward to the full release of VeriSend.
Thanks to our ANON testers we have ironed out a couple of bugs. Really looking forward to the full release of VeriSend.
If only half of this is true it is already big news. If there would be post on a news site that confirm this the price will skyrocket in just a few hours, I guarantee it.
Please come with proof to back this story up.
This is so unlikely that it would be better if he hadn't mentioned it at all.
Agree - this is the sort of "casual" name drop that reduces credibility, not enhances it, unless there's something more concrete than this "passing" remark.
June 16, 2014, 05:55:32 AM
Deutsche Bank is getting a report tomorrow stating that VeriCoin is environmentally much friendlier than BTC and LTC and offers very fast, low fee transactions. If they like the report from one of their researchers they will consider a "high risk alternative investment" in it. I wish I had more details but I guess we will see what happens over the next couple of weeks! :-D
Thanks to our ANON testers we have ironed out a couple of bugs. Really looking forward to the full release of VeriSend.
Thanks to our ANON testers we have ironed out a couple of bugs. Really looking forward to the full release of VeriSend.
If only half of this is true it is already big news. If there would be post on a news site that confirm this the price will skyrocket in just a few hours, I guarantee it.
Please come with proof to back this story up.
This is so unlikely that it would be better if he hadn't mentioned it at all.
June 16, 2014, 05:40:59 AM
so your saying this coin is only for smart people?
That's not what I said at all. I think you can quite easily ascertain what I was saying, namely, gambling on a mathematical formulae that is guaranteed to ensure the 'House' takes a percentage over time, means that a gambler is probably going to lose in the short term, highly likely to lose in the medium term and guaranteed to lose in the long term.
That's what gambling is.. every online games and casinos, the house always have an advantage and yet people still play the pokies and visit casinos..
@leckey: cryptodevil is not happy.. may be you should reduce your house edge to -1.5%
June 16, 2014, 05:34:25 AM
so your saying this coin is only for smart people?
That's not what I said at all. I think you can quite easily ascertain what I was saying, namely, gambling on a mathematical formulae that is guaranteed to ensure the 'House' takes a percentage over time, means that a gambler is probably going to lose in the short term, highly likely to lose in the medium term and guaranteed to lose in the long term.
That's what gambling is.. every online games and casinos, the house always have an advantage and yet people still play the pokies and visit casinos..
June 16, 2014, 05:19:32 AM
so your saying this coin is only for smart people?
That's not what I said at all. I think you can quite easily ascertain what I was saying, namely, gambling on a mathematical formulae that is guaranteed to ensure the 'House' takes a percentage over time, means that a gambler is probably going to lose in the short term, highly likely to lose in the medium term and guaranteed to lose in the long term.
June 16, 2014, 05:19:04 AM
Only approx $1,300 to go guys.. can someone have a dinner with the Devs please? I can't, that's my whole wallet balance and it's 22 hours flight from here ..lol
https://www.startjoin.com/vericoin_nambtc
https://www.startjoin.com/vericoin_nambtc
June 16, 2014, 05:07:28 AM
For a community primarily consisting of people who are supposed to have an above-average grasp of technical and mathematical concepts, the enthusiasm for throwing coins at a gaming system guaranteed to lose them money over time, baffles me.
so your saying this coin is only for smart people?
hahaha... I think we're all bored now.. I think I'll move mine of MP now and stake them..
June 16, 2014, 05:04:08 AM
For a community primarily consisting of people who are supposed to have an above-average grasp of technical and mathematical concepts, the enthusiasm for throwing coins at a gaming system guaranteed to lose them money over time, baffles me.
Would you rather donate to a good cause? here's da link https://www.startjoin.com/vericoin_nambtc
Isn't investing a form of gambling?
.. Nah, seriously, point taken.. if you keep playing, yes.. I was just testing out the first Vericoin game 
June 16, 2014, 04:56:37 AM
For a community primarily consisting of people who are supposed to have an above-average grasp of technical and mathematical concepts, the enthusiasm for throwing coins at a gaming system guaranteed to lose them money over time, baffles me.
so your saying this coin is only for smart people?
June 16, 2014, 04:55:03 AM
lol.. lost 15VRCs.. average 8-12 spins before I see any returns.. be good to creat an android version and perhaps give people 1-2 VRCs to try out like the other online casino.. overall good fun though..
Ouch! What odds were you playing?
I'll need to brush up on my Java before creating an android version - and comandeer my fiancé's phone for it too which she won't be pleased about! Right now the bank roll isn't high enough really to warrant giving out VRC like that, but I'm thinking of using the bounty someone mentioned earlier (or at least part of it), to create a kind of "loser's raffle". I.e. Every losing bet gives 1 ticket to a user. Then say 1000 VRC is split up and sent to losers with tickets, in proportion to how many tickets they've accrued.
lol.. 6.25.. good idea with the bounty.. it give people some incentive..
good luck.. that's my 15VRCs contribution to your cause.. June 16, 2014, 04:44:28 AM
Deutsche Bank is getting a report tomorrow stating that VeriCoin is environmentally much friendlier than BTC and LTC and offers very fast, low fee transactions. If they like the report from one of their researchers they will consider a "high risk alternative investment" in it. I wish I had more details but I guess we will see what happens over the next couple of weeks! :-D
Thanks to our ANON testers we have ironed out a couple of bugs. Really looking forward to the full release of VeriSend.
Thanks to our ANON testers we have ironed out a couple of bugs. Really looking forward to the full release of VeriSend.
If only half of this is true it is already big news. If there would be post on a news site that confirm this the price will skyrocket in just a few hours, I guarantee it.
Please come with proof to back this story up.
June 16, 2014, 04:33:45 AM
lol.. lost 15VRCs.. average 8-12 spins before I see any returns.. be good to creat an android version and perhaps give people 1-2 VRCs to try out like the other online casino.. overall good fun though..
Ouch! What odds were you playing?
I'll need to brush up on my Java before creating an android version - and comandeer my fiancé's phone for it too which she won't be pleased about! Right now the bank roll isn't high enough really to warrant giving out VRC like that, but I'm thinking of using the bounty someone mentioned earlier (or at least part of it), to create a kind of "loser's raffle". I.e. Every losing bet gives 1 ticket to a user. Then say 1000 VRC is split up and sent to losers with tickets, in proportion to how many tickets they've accrued.
June 16, 2014, 04:30:08 AM
For a community primarily consisting of people who are supposed to have an above-average grasp of technical and mathematical concepts, the enthusiasm for throwing coins at a gaming system guaranteed to lose them money over time, baffles me.
June 16, 2014, 04:25:21 AM
lol.. lost 15VRCs.. average 8-12 spins before I see any returns.. be good to creat an android version and perhaps give people 1-2 VRCs to try out like the other online casino.. overall good fun though..
June 16, 2014, 03:57:55 AM
June 16, 2014, 03:50:54 AM
This statement:
I'm assuming you haven't actually encrypted your wallet yet (set password for it). I strongly suggest you do.
Once you have, the greyed out 'unlock' feature will not be greyed out.
I'm fairly technologically savvy and it is odd I am unable to figure this out.
Is at odds with this one: I have read posts earlier which mention "unlocking wallet". What is this "unlock" feature? Also mine is greyed out (I'm not exactly sure what exactly it does).
I'm assuming you haven't actually encrypted your wallet yet (set password for it). I strongly suggest you do.
Once you have, the greyed out 'unlock' feature will not be greyed out.
June 16, 2014, 03:39:47 AM
Deutsche Bank is getting a report tomorrow stating that VeriCoin is environmentally much friendlier than BTC and LTC and offers very fast, low fee transactions. If they like the report from one of their researchers they will consider a "high risk alternative investment" in it. I wish I had more details but I guess we will see what happens over the next couple of weeks! :-D
Thanks to our ANON testers we have ironed out a couple of bugs. Really looking forward to the full release of VeriSend.
Thanks to our ANON testers we have ironed out a couple of bugs. Really looking forward to the full release of VeriSend.
Thats huge info, much bigger than anon.
Would be awesome..Deutsche Bank's money into VeriCoin, nice.
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