[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 884.

LordPiccolo

hero member

Activity: 1022

Merit: 1000

Quote from: sesko on June 03, 2014, 03:04:48 PM

What about Craptsys? This is still active, but no market: https://www.cryptsy.com/currencies/view/159

It's a chance they can add it today, with vote winners.

I can't see any voting option for vrc?

sesko

sr. member

Activity: 403

Merit: 250

What about Craptsys? This is still active, but no market: https://www.cryptsy.com/currencies/view/159

It's a chance they can add it today, with vote winners.

ScottAllyn

full member

Activity: 236

Merit: 100

¿ʇɐɥʍ

The pool is working very well so far. I honestly wasn't even expecting payments since it's still in the alpha stages, so the VRC received from the pool is pure gravy! Cheesy

pnosker

sr. member

Activity: 504

Merit: 250

Quote from: Kevondo on June 03, 2014, 07:48:30 AM

Quote from: LordPiccolo on June 03, 2014, 04:18:51 AM

Quote from: flex65 on June 03, 2014, 03:39:41 AM

multipool is ready for use? am I right?

I have been getting payouts from somewhere lol, so I guess the multipool is working, although I Believe it is still in Alpha testing

LP is correct. It's in Alpha Testing still, which means it is up and running, but there r bugs, adjustments, and tweaks being made. Basically the Dev's R actively monitoring the Pool as it runs and might shut it down to make an adjustment and then fire it up again'.

So if U R checkin' the pool out it might act hinky but it's the Dev's workin' on it.

They will not come out of Alpha until everything is working perfectly. That doesn't mean that all the intended features will be available but that it will Handle High Hash rates, switch to most profitable coin for mining, sell the mining spoils for BTC @ the best rate, Buy Vericoin like wise, and then payout. All Automatically.

The payout module is currently the big Bug-a-Boo holding up the general release.

The payouts being received now all have to be done MANUALLY. This takes time which could be better utilized.

The Dev's will not come out of Alpha until the Auto-Payout is stable. Manual payments R being made to show good faith and get some return to those aiming hash @ the pool during this phase.

It will be more efficient/ profitable when released and exposed to the the rigors of the marketplace.

Very well said. Please don't throw your hash at the pool unless you are 100% ok with potential issues. Things *should* be working though, and profitability for my miner has been above every other multipool for the past week... so if you would like to help the VRC community and us out by load testing the stratum and our payouts, please feel free to mine at the pool. Just know that things might not work perfectly.

Kevondo

sr. member

Activity: 742

Merit: 251

Quote from: LordPiccolo on June 03, 2014, 04:18:51 AM

Quote from: flex65 on June 03, 2014, 03:39:41 AM

multipool is ready for use? am I right?

I have been getting payouts from somewhere lol, so I guess the multipool is working, although I Believe it is still in Alpha testing

LP is correct. It's in Alpha Testing still, which means it is up and running, but there r bugs, adjustments, and tweaks being made. Basically the Dev's R actively monitoring the Pool as it runs and might shut it down to make an adjustment and then fire it up again'.

So if U R checkin' the pool out it might act hinky but it's the Dev's workin' on it.

They will not come out of Alpha until everything is working perfectly. That doesn't mean that all the intended features will be available but that it will Handle High Hash rates, switch to most profitable coin for mining, sell the mining spoils for BTC @ the best rate, Buy Vericoin like wise, and then payout. All Automatically.

The payout module is currently the big Bug-a-Boo holding up the general release.

The payouts being received now all have to be done MANUALLY. This takes time which could be better utilized.

The Dev's will not come out of Alpha until the Auto-Payout is stable. Manual payments R being made to show good faith and get some return to those aiming hash @ the pool during this phase.

It will be more efficient/ profitable when released and exposed to the the rigors of the marketplace.

ScottAllyn

full member

Activity: 236

Merit: 100

¿ʇɐɥʍ

Quote from: socal on June 02, 2014, 01:41:24 PM

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC[...]

There are already a number of generic multipools that pay in BTC; hashco.ws is one that comes immediately to mind, but I know that there are others. If all you're looking to do is cash out at the end of each day, those pools would likely be better suited to your needs.

parker928

sr. member

Activity: 294

Merit: 250

Quote from: socal on June 02, 2014, 01:41:24 PM

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC, thats my biggest problem is the disconnect between mining and exchange by the time I mine enough for the min withdrawl limit, find the most profitable exchange, create an account on said exchange (if I dont already have one), wait for it to show up in my exchange, and then sell, the price has normally already gone down from when it was most profitable therefore.....this same option on a regular multipool would be amazing

you're trying to hard

you're not gonna make any money like that. change coins maybe once or twice a day for the most profit.

LordPiccolo

hero member

Activity: 1022

Merit: 1000

Quote from: flex65 on June 03, 2014, 03:39:41 AM

multipool is ready for use? am I right?

I have been getting payouts from somewhere lol, so I guess the multipool is working, although I Believe it is still in Alpha testing

flex65

full member

Activity: 224

Merit: 100

Quote from: nxthing on June 03, 2014, 02:32:09 AM

Vericoin is cool alt name! The moment i saw it on bittrex i just make a buy instantly!

you're right. but verycoin not only "cool name", first of all its a real working team and good community.
i hold my vericoins and know that 3000 sat its a minimum price even for now.
its not a time to sell. price is very very cheap for now..... and only bittrex ))) its not a good place for strong coins.
when we hit Mintpal the game will start with a new hi volume.

flex65

full member

Activity: 224

Merit: 100

multipool is ready for use? am I right?

nxthing

newbie

Activity: 56

Merit: 0

Vericoin is cool alt name! The moment i saw it on bittrex i just make a buy instantly!

LordPiccolo

hero member

Activity: 1022

Merit: 1000

another payout from the multipool, thank you very much

Lovethecoins

hero member

Activity: 658

Merit: 500

Remember to vote vote vote.... we are already bringing me volume then most coins on mintpal anyways... should be added!!!

Kevondo

sr. member

Activity: 742

Merit: 251

Quote from: SpruceMoosey on June 02, 2014, 06:15:18 PM

Quote from: Kevondo on June 02, 2014, 11:48:57 AM

Quote from: socal on June 02, 2014, 10:14:14 AM

ok i missed something obviously I thought we were in PoS therefore how are we mining VRC?

Still in its infancy, the crypto world we R traveresing is a cyber-conundrum. The vast majority of people can't get their head around How BTC works. Those immersed in it R pressing on into the unknown creating code that's nebulous to all but those with IT and coding chops.

Here's how I THINK! Vericoin is proceeding.

POW is over. There is no publicly, active, mining going. Nor will there be. 26 Million Vericoin have been created.

HOWEVER. POS or Staking creates/mines coins to pay the interest on coins being staked. So the Block chain is being added too by this action

Coins must be in Wallets to Stake. If U keep your wallet open it's good for the stability of the network and the coins "age/mature" and are awarded interest every 8 hours they remain in the wallet continuously. While staking, these coins cannot be spent/transferred. You can set a reserve in your wallet so you can ALWAYS have the number of coins that U may want to trade or spend available.

The accounting of Spendable, Available, and unconfirmed is tracked by the wallet.

If u open your wallet once a year U will receive the staking interest for all coins that have been in there for more than 8 hours. Then they will begin aging/maturing again. In the once a year scenario I believe (not sure) all the staked coins would then mature in 8 hours and pay interest

For always Open Wallets: As Coins start aging when they arrive in your wallet, every 8 hours they remain there "Staking" they generate interest. All interest is compounded. It's virtually impossible to get all your vericoin to stake simultaneously.

The VeriCoin Multipool

All hash (scrypt or X11 only) pointed @ the MultiPool is managed by an algorithm which selects the most profitable coins to mine @ that time. The coins being mined are anonymous to everyone but the pool master. The spoils from mining will then be sold on the open market for BTC on the exchange offering the best price. The total resulting BTC will then be used to BUY Vericoin (again @ the best price) on the open market and then distributed to the share holders in the MultiPool.

Payouts will be made @ an interval to be decided but more than once a day.

All this will happen automatically once the algo for the Multipool is complete.

Can U C the intricacies of coding that this algo requires? This is why it takes time and why we R lucky to have

The Best Development Team in Crypto

working tirelessly in the best interest of the Crypto Community to make this daunting piece of software known as Vericoin a true Masterpiece

Dev's or anyone in the know please make me aware of any inaccuracies

One fundamental mistake there, Highlighted and fixed in red!

U R Correct. A truly Fundamental Error on my part. Thanks for your careful reading of the post. It had a major BUG in it and I didn't even know. Thanks again

and I added an additional bit in Green for Clarity

SpruceMoosey

newbie

Activity: 51

Merit: 0

Quote from: Kevondo on June 02, 2014, 11:48:57 AM

Quote from: socal on June 02, 2014, 10:14:14 AM

ok i missed something obviously I thought we were in PoS therefore how are we mining VRC?

Still in its infancy, the crypto world we R traveresing is a cyber-conundrum. The vast majority of people can't get their head around How BTC works. Those immersed in it R pressing on into the unknown creating code that's nebulous to all but those with IT and coding chops.

Here's how I THINK! Vericoin is proceeding.

POW is over. There is no publicly, active, mining going. Nor will there be. 26 Million Vericoin have been created.

HOWEVER. Staking creates/mines coins to pay the interest on coins being staked. So the Block chain is being added too by this action

Coins must be in Wallets to Stake. If U keep your wallet open it's good for the stability of the network and the coins "age/mature" and are awarded interest every 8 hours they remain in the wallet continuously. While staking, these coins cannot be spent/transferred. You can set a reserve in your wallet so you can ALWAYS have the number of coins that U may want to trade or spend available.

The accounting of Spendable, Available, and unconfirmed is tracked by the wallet.

If u open your wallet once a year U will receive the staking interest for all coins that have been in there for more than 8 hours. Then they will begin aging/maturing again. In the once a year scenario I believe (not sure) all the staked coins would then mature in 8 hours and pay interest

For always Open Wallets: As Coins start aging when they arrive in your wallet, every 8 hours they remain there "Staking" they generate interest. All interest is compounded. It's virtually impossible to get all your vericoin to stake simultaneously.

The VeriCoin Multipool

All hash (scrypt or X11 only) pointed @ the MultiPool is managed by an algorithm which selects the most profitable coins to mine @ that time. The coins being mined are anonymous to everyone but the pool master. The spoils from mining will then be sold on the open market for BTC on the exchange offering the best price. The total resulting BTC will then be used to BUY Vericoin (again @ the best price) on the open market and then distributed to the share holders in the MultiPool.

Payouts will be made @ an interval to be decided but more than once a day.

All this will happen automatically once the algo for the Multipool is complete.

Can U C the intricacies of coding that this algo requires? This is why it takes time and why we R lucky to have

The Best Development Team in Crypto

working tirelessly in the best interest of the Crypto Community to make this daunting piece of software known as Vericoin a true Masterpiece

Dev's or anyone in the know please make me aware of any inaccuracies

One fundamental mistake there, Highlighted and fixed in red!

Kevondo

sr. member

Activity: 742

Merit: 251

Quote from: pnosker on June 02, 2014, 04:41:26 PM

Quote from: socal on June 02, 2014, 01:41:24 PM

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC, thats my biggest problem is the disconnect between mining and exchange by the time I mine enough for the min withdrawl limit, find the most profitable exchange, create an account on said exchange (if I dont already have one), wait for it to show up in my exchange, and then sell, the price has normally already gone down from when it was most profitable therefore.....this same option on a regular multipool would be amazing

I think we have some other priorities to focus on before we start a BTC multipool. We have some ideas about anon, need to implement more of the optimized buying algorithm, and have some point-of-sale/storefront ideas we're also working on. Hopefully some others start developing stuff for VeriCoin but if not, we will be able to slowly but surely grow the VRC economy into one that rivals BitCoin.

BRAVO!!! pnosker

I'm with Ya all the way!

neutraLTC

legendary

Activity: 1492

Merit: 1021

Quote from: pnosker on June 02, 2014, 04:41:26 PM

Quote from: socal on June 02, 2014, 01:41:24 PM

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC, thats my biggest problem is the disconnect between mining and exchange by the time I mine enough for the min withdrawl limit, find the most profitable exchange, create an account on said exchange (if I dont already have one), wait for it to show up in my exchange, and then sell, the price has normally already gone down from when it was most profitable therefore.....this same option on a regular multipool would be amazing

I think we have some other priorities to focus on before we start a BTC multipool. We have some ideas about anon, need to implement more of the optimized buying algorithm, and have some point-of-sale/storefront ideas we're also working on. Hopefully some others start developing stuff for VeriCoin but if not, we will be able to slowly but surely grow the VRC economy into one that rivals BitCoin.

I like your thinking, ive been following this coin since day one, i have a great 'gut' feeling on this coin.

pnosker

sr. member

Activity: 504

Merit: 250

Quote from: socal on June 02, 2014, 01:41:24 PM

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC, thats my biggest problem is the disconnect between mining and exchange by the time I mine enough for the min withdrawl limit, find the most profitable exchange, create an account on said exchange (if I dont already have one), wait for it to show up in my exchange, and then sell, the price has normally already gone down from when it was most profitable therefore.....this same option on a regular multipool would be amazing

I think we have some other priorities to focus on before we start a BTC multipool. We have some ideas about anon, need to implement more of the optimized buying algorithm, and have some point-of-sale/storefront ideas we're also working on. Hopefully some others start developing stuff for VeriCoin but if not, we will be able to slowly but surely grow the VRC economy into one that rivals BitCoin.

socal

hero member

Activity: 532

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

yes thanks for clarifying how the pool worked, Dev Team can I request that after its done and stable you guys open another multipool that does the same thing except with BTC, thats my biggest problem is the disconnect between mining and exchange by the time I mine enough for the min withdrawl limit, find the most profitable exchange, create an account on said exchange (if I dont already have one), wait for it to show up in my exchange, and then sell, the price has normally already gone down from when it was most profitable therefore.....this same option on a regular multipool would be amazing

MiningSensei

hero member

Activity: 766

Merit: 509

Quote from: parker928 on June 02, 2014, 12:28:20 PM

Quote from: Kevondo on June 02, 2014, 11:48:57 AM

Quote from: socal on June 02, 2014, 10:14:14 AM

ok i missed something obviously I thought we were in PoS therefore how are we mining VRC?

Still in its infancy, the crypto world we R traveresing is a cyber-conundrum. The vast majority of people can't get their head around How BTC works. Those immersed in it R pressing on into the unknown creating code that's nebulous to all but those with IT and coding chops.

Here's how I THINK! Vericoin is proceeding.

POS is over. There is no publicly, active, mining going. Nor will there be. 26 Million Vericoin have been created.

HOWEVER. Staking creates/mines coins to pay the interest on coins being staked. So the Block chain is being added too by this action

Coins must be in Wallets to Stake. If U keep your wallet open it's good for the stability of the network and the coins "age/mature" and are awarded interest every 8 hours they remain in the wallet continuously. While staking, these coins cannot be spent/transferred. You can set a reserve in your wallet so you can ALWAYS have the number of coins that U may want to trade or spend available.

The accounting of Spendable, Available, and unconfirmed is tracked by the wallet.

If u open your wallet once a year U will receive the staking interest for all coins that have been in there for more than 8 hours. Then they will begin aging/maturing again. In the once a year scenario I believe (not sure) all the staked coins would then mature in 8 hours and pay interest

For always Open Wallets: As Coins start aging when they arrive in your wallet, every 8 hours they remain there "Staking" they generate interest. All interest is compounded. It's virtually impossible to get all your vericoin to stake simultaneously.

The VeriCoin Multipool

All hash (scrypt or X11 only) pointed @ the MultiPool is managed by an algorithm which selects the most profitable coins to mine @ that time. The coins being mined are anonymous to everyone but the pool master. The spoils from mining will then be sold on the open market for BTC on the exchange offering the best price. The total resulting BTC will then be used to BUY Vericoin (again @ the best price) on the open market and then distributed to the share holders in the MultiPool.

Payouts will be made @ an interval to be decided but more than once a day.

All this will happen automatically once the algo for the Multipool is complete.

Can U C the intricacies of coding that this algo requires? This is why it takes time and why we R lucky to have

The Best Development Team in Crypto

working tirelessly in the best interest of the Crypto Community to make this daunting piece of software known as Vericoin a true Masterpiece

Dev's or anyone in the know please make me aware of any inaccuracies

perfect

Only inaccuracy I see is that they can simply ask other devs for help (who throw up multipools every week) and be done in a snap. Still, they are working hard and that is much appreciated

Nice summary, also!

Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 884. (Read 1356163 times)