Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 96. (Read 1356140 times)

The concept of Verium is impressive.

The two blockchains (POWT and PoST) provide more high security and value.



I hope to see the "Interaction with two blockchains"

When Can I see this ?

I'm going to guess you meant "should be a vote on the 50/50."

I think there should be a vote not he 50/50 I say yes.  But on the rest of the stuff it will be used for development, maintenance and marketing don't know what needs to be discussed.

This is probably the best current solution. I think so.

Well we haven't used it since 2014, but it was managed by Doug and I. I think VRC is mature enough to have a real community-run fund, so if there's some people that want to step up and have been around for a long time we could have a multisig address control it with a dev key and a community manager key required to spend from it.

We'll manage the base funds from the endowment.

A good idea.

Question:
Who will manage VeriFund.? ( one person? multisignature?)

Full details on the ICO are not ready yet, we're still trying to gather feedback about some of our ideas for what to do with ICO funds. We're hoping to have some good feedback on our idea to take 50% of total ICO funds raised and deposit it to our VeriFund endowment: VFEndownxxnHea9mv59kZx8c7TysGbndYx

any ETA for ICO details guys?

thanks

Also as pnosker mentioned. The Verium address will be the same format as VeriCoin, so a VeriCoin private key you own can be imported into your Verium wallet and vice versa.  The balance will be different depending on which chain it is on (VeriCoin or Verium) but you can hold one private key with both Verium and VeriCoin on it from each chain.  We will release an update to the VeriCoin wallet prior to the ICO that is a bit lighter, has some UI improvements but will also make exporting a private key very easy in the user-interface for this purpose.  So when the ICO starts you will use the VeriCoin wallet to generate your Verium address and export the private key for importing into the Verium wallet once it is released.

We are considering granting free Verium to VRC holders. Our idea right now, though not set in stone is:

At the end of the ICO, the top 250 VRC addresses in terms of balance at that time and having had staked at least one block in month preceding the ICO end date will receive 1 VRM per 500 VRC with no partial VRM for between 0-500 VRC. For example, if you have 20,000 VRC, you would get 40 VRM. If you had 20,499 VRC you would still only get 40 VRM. Your VRC private key would be able to redeem the VRM by importing it to your wallet. If you keep your money on an exchange you would get nothing.

This will reward VRC stakers who are contributing to the security of VeriCoin. It will also help VRM gain some early adopters. It's a mutually beneficial arrangement, one of many in the Veri ecosystem.

What does everyone think of this idea? We have not made any decisions yet, but this will definitely play into it.

In addition to this, as effectsToCause mentioned earlier, we have proposed taking 50% of the ICO funds and donating it to our VeriFund endowment: VFEndownxxnHea9mv59kZx8c7TysGbndYx. This address is only going to be used to stake perpetually. No donated coins will be used for funding anything. Only interest made off staking will ever be used to fund and support VeriCoin. Consider it a staking burn address where you know your donation will never help reduce the price of VRC.

Please comment with your take on our ideas for the VRM introduction and swap.

Basically:
Be in the top 250 list of VRC Addresses: https://chainz.cryptoid.info/vrc/#!rich
Stake your coins regularly
Get free Verium

All ICO funds usage will be voted on by the community, details of voting procedure to come later, but we would like to have 50% of the VeriCoin raised in the ICO to be sent to this endowment and staked perpetually.  If you also like this idea be sure to vote for it.

We have created a stake-only endowment: VFEndownxxnHea9mv59kZx8c7TysGbndYx

All funds donated to this will be staked perpetually. Only staked interest will be used to fund any VeriFund project.

Feel free to send any donations in and get this baby going! The donated funds will never be sold/traded/given away/used for projects. Only interest from it will be.

nearing to the breakout..the chart looks good..  go go vrc

Fine by me ! 

Thanks for sharing!

A good chart to bookmark is the CoinGecko Vericoin chart, has graphs for Vericoin to USD exchange rates https://www.coingecko.com/en/price_charts/vericoin/usd

This is because BTC dropped quite a bit.

VRC is on the way up again.  Good times ahead.

Anyone ever figure out how many VeriCoin have been lost from cryptsy?

What about BitCoin itself? I bet few million.