who created this genius idea to make cryptocurrency like the stock market instead of actual cash? I mean the alleged founder of bitcoin argued to tax bitcoin like cash in Australia instead of like stocks and assets in that country and he got denied. If he really is the supposed founder (Mr. Wright?, wtf was his name?)......I mean I don't really want to use a digital platform that is worth $900 one day $1150 the next and then $875 again. I still struggle to invest anything at all into crypto vs just mining it all. I might hold some BTC but I sell it pretty often and maybe re-buy when I think it will go back up. I make a bit more doing that vs just straight holding it.
I can't remember if it's steem and steem dollars (kinda like vericoin and verium's relationship)...but instead steem dollars are pegged to the USD so one steem dollar really is $1.00 but steem itself can be asset based instead of steemit's cash based design....so I guess its a currency with a reserve kind of like this?
My point is we need ideas that can explode altcoins and demolish bitcoin once and for all. What should those ideas be? I mean, I know the mining aspect of altcoins in of itself is a problem where we automatically sell for bitcoin and put intense selling pressure on the altcoin. How exactly do we best fix that going forward to save altcoins? How bout launching a coin that is immediately upon launch cash exchangeable instead of BTC? Maybe miners wouldn't autosell so fast if they knew they didn't need to. I guess Ethereum and I don't know what else can be exchange for actual cash without converting to bitcoin first. We need coins like those, but at launch. How do we accomplish that? Is that what these expensive ICO's are all about? Trying to pump up value of a coin at launch? (sorry I don't really know what an ICO is, I mean I can google it but I don't really know what it is and how it pertains to the launch of an altcoin, maybe someone can explain?)
And why doesn't everyone convert to proof of stake if its just so wonderful? Sorry, I'm actually a bit new but I'm not all that stupid. Someone help my n00bness. Is being gpu and asicproof really all that important? If this coin has that gpu and asic resistance...just how special is that? I don't know much about verium, so maybe someone with more answers than me can chime in....what is going to be so special about this coin features wise besides the gpu resistance...what makes it so special vs the hundreds of altcoins out there?
Sorry I'm just trying to understand why we need 700+ altcoins, this just being another one, I want to know what makes it special and why we need so many bitcoin alternatives and when an altcoin will eventually defeat bitcoin, but how? How will we altcoin supporters pull off the defeat of bitcoin?
If you are new to crypto there is sth that you should try to understand: Even the big currencies like €, $, Rubel,... they are all like stock markets. But price manipulation is way more difficult.
Simply example: Invest about 10,000$ into VRM, the price will go up very very much because low volume. Invest the same amount of money into € or BTC and nothing will happen to the current price because the volume is way to high.
We all should never forget, that BTC and all other cryptos are still very new compared to the history of "real money". In my country, BTC and other coins are more and more in the local newspapers and on TV. More and more BTC atms are comeing (slowly, but yes they are comeing), more and more shops are accepting BTC as payment service.
Proof of Stake is not solving all problems. One problem of PoS is for example, no mining. Many ppl dislike coins completely without mining because they are most likely always ICOs and you can always get scammed. This is not as easy on a PoW/PoS hybrid without a big premine.
Meaning of
ICO: ICOs are based on a "pre launch" trade/buy. The developers (if they are honest) are collecting some BTC for future development like server hosting, advertisements, ... The big problem with ICOs are the danger of getting scammed. I mean, they collect all the BTC and then they just disapear. They are hard to track and if they didnt steal "enough" btc maybe not even the police/FBI or whoever is trying to find them.
And you are right, we don't need more and more altcoins, but they are comeing and they will keep on comeing.
I hope i could help you a bit
I will probably keep using p00linat0r until the payouts are fixed but I heard cpuminer-opt is way better than anything else...and I'm on windows. Does anyone know if you can use cpuminer-opt for solomining? I looked at the syntax of cpuminer-opt and couldn't find a way....would I just have to use a fork someone created to be able to do that? Isn't OCminer able to do solomining? Is anyone mining solo here and getting much better performance than using cpuminer-opt on a pool? Is there even another pool out there besides poolinat0r? I mean poolinat0r looks like a really good pool with low fees but I'm only curious as to see if there even was another pool or if solomining can be better (I heard the built in wallet is like 40% worse for hashrate) so what I'm looking for is if sometimes there are differant pools where my hashrate can either be better or worse or if someone is using a miner on windows via solomining that is possibly performing even better than cpuminer-opt whether pool or solomining.
Is Ubuntu really that much better for cpu mining? I don't mind installing it....but what do you guys think? I'm getting 69.5 Hash/Sec on intel 6950x @ 4.2 GHz stock voltage. This is mining on poolinat0r and on windows, is that bad or good? I'm @ 16 GB of DDR2400 RAM and it's at 95% utilization and I had to create a 64 GB pagefile just to cpu mine. I'm using 19 threads on this. Does that mean if I had to create a 64 GB pagefile that it is using 64 GB page + my 16 GB of RAM? I literally see my RAM usage @ 15.5GB of 16 GB but I think it reserves the last 500 MB on purpose and is using more of my page file than I'm comfortable with. Should I upgrade to 32 GB of RAM, 64? or 128? I mean I know this coin isn't worth that much, but I'm just curious what my 6950x 10 core i7 cpu should really be hashing at whether I switch to solo mining or Ubuntu or just get way more RAM than the 16 GB I have now.
Solo mining should also be possible with CPUminer-opt but i think the wallet also has received a nice update (some months ago) with good increasement of hashing power.
VRM needs indeed a very big amount of RAM, thats why it's very resistent for GPU and asics.
For soloming it should work like this:
1. For solo mining you have to define the following in your verium.conf (located here: %appdata% \Verium):
rpcuser=putausernamethere
rpcpassword=putagoodpasswordthere
rpcallowip=127.0.0.1 (this is your localhost, meaning your mashine/workstation only has access to RPC commands)
rpcport=33987
port=36988
2. Create new start.bat for cpuminer-opt with the following:
cpuminer-corei7-avx -a scrypt:1048576 -o 127.0.0.1:33987 -u putausernamethere -p putagoodpasswordthere -t 19
I didn't test this, but its the syntax for bitcoin, litecoin, almosteverycoin solo mining.
Feel free to also PM me if you have any more questions
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