Give me a logical reason why Vanilla coin is not a top ten coin? - page 4.

TPTB_need_war

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Activity: 420

Merit: 262

Quote from: TPTB_need_war on August 10, 2015, 05:14:37 AM

Quote from: cbeast on August 10, 2015, 01:48:07 AM

Quote from: TPTB_need_war on August 10, 2015, 01:26:01 AM

Afaics his abstract paper does not deal with some of the intricacies of the economics that have to be solved in order to make the design actually work in the real world.

You see that often in unseasoned theorists.

Someone asked me in a PM for my opinion of VanillaCoin. I just expended 15 minutes studying it for the first time:

https://bitcointalksearch.org/topic/unofficial-vnl-vanillacoin-041-instant-incentivized-innovative-977245

The DarkPP stuff is vaporware and no details are available.

It claims some efficiency improvements over Bitcoin and Peercoin. Appears the developer is a seasoned P2P networking programmer. If I had to venture a guess, he probably was a former developer of a Bittorrent client.

The main feature of significance is the zero confirmation time research which attempts to gain a faster consensus. Unfortunately he seems to entirely forget any game theory analysis. The Byzantine fault tolerance in proof-of-work consensus is due to game theory incentives given by the proof-of-work rewards. He expects these peers to behave a certain optimum way when they are not being paid to do so. Many faults will be found in his design because of this. I don't have time to go outline the faults.

Satoshi was a lot more astute than many people might realize. If you are going to improve upon Satoshi's work, you need to be very sharp.

kelsey

legendary

Activity: 1876

Merit: 1000

if it is any good (which i doubt), its hidden in amongst 1001 shitcoins so few would find it anyways. tbh the name is so lame most would pass it over.

hankman

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Activity: 182

Merit: 100

Because there are at least 10 altcoins that are better than it?

I am the guy

full member

Activity: 237

Merit: 100

Well, for one the crypto community as a whole is quite small. Secondly, most of the crypto community has written off most alts and/or holding their bags of their favorite coin.

I personally find VNL incredibility impressive thus far. Multi-Tier Architecture and Zerotime is a recipe for success. Until recently, like you (nextgencoin), I have been raving since learning about it. It's a hidden gem.

Snail2

legendary

Activity: 1512

Merit: 1000

Quote from: nextgencoin on August 10, 2015, 09:14:26 AM

I'm thinking about investing in it, I bought a little but wondering on more.

My hypothesis is simple, it sends and confirms under a second, is decentralised and is anonomous. In the end that really what people want, ie send money instantly with no double spend, who wants to wait a few minutes to buy something?

Right or wrong?

Pretty simple: lack of real demand. There are plenty of established coins with the same or similar features, and with lot more marketing. BTW functionality sometimes means nothing. Take a look at Qora or NXT and then take an other look at the big bunch of copy-paste-no invention shitcoins with far better exchange rates.

terman45x

hero member

Activity: 840

Merit: 1000

Quote from: unusualfacts30 on August 10, 2015, 01:53:07 PM

may be if it was named Cookies N' Cream I would buy some Cheesy

Oh it is dickhead UnusualFacts making funny comments. Same guy who offered to bet 30btc in the CIRC thread and then suddenly would not own his words after two or three guys called his bluff with escrow no less.

Your nick has dogshit smeared all over it. Better start new and don't be such an asshole this time around.

unusualfacts30

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Activity: 1540

Merit: 500

may be if it was named Cookies N' Cream I would buy some Cheesy

generalizethis

legendary

Activity: 1750

Merit: 1036

Facts are more efficient than fud

Quote from: TPTB_need_war on August 10, 2015, 05:14:37 AM

Quote from: cbeast on August 10, 2015, 01:48:07 AM

Quote from: TPTB_need_war on August 10, 2015, 01:26:01 AM

Afaics his abstract paper does not deal with some of the intricacies of the economics that have to be solved in order to make the design actually work in the real world.

You see that often in unseasoned theorists.

Someone asked me in a PM for my opinion of VanillaCoin. I just expended 15 minutes studying it for the first time:

https://bitcointalksearch.org/topic/unofficial-vnl-vanillacoin-041-instant-incentivized-innovative-977245

The DarkPP stuff is vaporware and no details are available.

It claims some efficiency improvements over Bitcoin and Peercoin. Appears the developer is a seasoned P2P networking programmer. If I had to venture a guess, he probably was a former developer of a Bittorrent client.

The main feature of significance is the zero confirmation time research which attempts to gain a faster consensus. Unfortunately he seems to entirely forget any game theory analysis. The Byzantine fault tolerance in proof-of-work consensus is due to game theory incentives given by the proof-of-work rewards. He expects these peers to behave a certain optimum way when they are not being paid to do so. Many faults will be found in his design because of this. I don't have time to go outline the faults.

Satoshi was a lot more astute than many people might realize. If you are going to improve upon Satoshi's work, you need to be very sharp.

MemoryShock

hero member

Activity: 728

Merit: 500

The original name was going to be 'LibCoin' but John found that it was taken already. The decision to call it Vanillacoin was made to keep it in line with the reasoning to call it lib...https://en.wikipedia.org/wiki/Vanilla_software

nextgencoin

legendary

Activity: 1106

Merit: 1000

Quote from: statdude on August 10, 2015, 10:18:09 AM

Quote from: JReag on August 10, 2015, 10:14:51 AM

Let's be objective.

Your hypothesis is that Vanillacoin provides something people want and is therefore fulfilling a significant market need.

But the reality is telling us otherwise. There's not enough interest in the project for it to have hit the top ten. You could say it's an issue of marketing, but most people in the crypto realm who deal with alts check out MANY alts.

Now you can spend a lot of time doing marketing and outreach if you have some great reason to believe Vanillacoin is so great, but if we're gonna be empirical here it's your hypothesis that isn't in line with reality.

Hmm,
I would have to disagree.

With a price increase of 474% in 30 days (and as high as 790%) and tons of volume, seems there is plenty of market interest in the project propelling it to top 10.

Not saying it will happen, but at this rate it would be top 10 within 5-6 weeks.

As for the name, I find it no worse than DarkCoin or Dogecoin or Litecoin, which all seem childish. I love Monero, and name sounds like "Money", but also very foreign to American (English speaking?) ears. Dash, Ripple, Etherium, Stellar are cool names, but don't say "Currency" to me. BitShares is probably the best name in the top 20.

Vanilla coin is like Vanilla Visa (prepaid) sounding. After initial hesitation I now like it and wouldn't bother changing it.

I've actually seen quite a lot of weird names for mainstream financial products, and you've got the whole history of tech companies with pretty silly names, Google, Apple, android names, lollipop, ice cream etc....

I personally neglected to look at Vanilla coin for a while due to its name though. In many ways it provides an opportunity cause the silly name masks a serious innovation in tech and practical use. Vanilla works for me now cause vanilla makes me think of purity and simplicity, probably from plain vanilla yogurt...that's just me.

In the end a name can be changed....I hate the idea any coin does well or fails due to a name...kind of a retarded reflection on us as a community.

jeannemadrigal2

sr. member

Activity: 322

Merit: 250

Quote from: nextgencoin on August 10, 2015, 09:36:37 AM

Quote from: illodin on August 10, 2015, 09:31:25 AM

People are worn out from there always being yet another new coin claiming to be the next best thing - which they rarely are (not saying this VNL is or isn't). Kind of like crying wolf enough of times and people won't even bother checking them out anymore.

Yeah I get that. But I'm saying with all honesty that I'm simply asking the question. At the moment I see a coin that is respendable in a second and is anonomous, I'm not arguing it's going to become the reserve currency of the world, simply that possibly it deserves to be in the top 10 marketcap of alts?

like I said if people can explain the flaws in my thinking, I'm actually willing to dump what I bought. I can't be more transparent than that honestly. Some of us aren't shrills or FUDers but people simply trying to work out what is the real good stuff and what is the garbage.

I never understand why people are so happy to dump coins. I like it because I get my low ball ofers filled, but they are basically throwing away money, and giving it to me for free. So thanks I guess.

For VNL, you will never know until time passes. But right now the price has dropped so it might not be a bad time to get some short term, but then again you jsut never know what will happen.

statdude

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Activity: 1498

Merit: 1000

Quote from: JReag on August 10, 2015, 10:14:51 AM

Let's be objective.

Your hypothesis is that Vanillacoin provides something people want and is therefore fulfilling a significant market need.

But the reality is telling us otherwise. There's not enough interest in the project for it to have hit the top ten. You could say it's an issue of marketing, but most people in the crypto realm who deal with alts check out MANY alts.

Now you can spend a lot of time doing marketing and outreach if you have some great reason to believe Vanillacoin is so great, but if we're gonna be empirical here it's your hypothesis that isn't in line with reality.

Hmm,
I would have to disagree.

With a price increase of 474% in 30 days (and as high as 790%) and tons of volume, seems there is plenty of market interest in the project propelling it to top 10.

Not saying it will happen, but at this rate it would be top 10 within 5-6 weeks.

As for the name, I find it no worse than DarkCoin or Dogecoin or Litecoin, which all seem childish. I love Monero, and name sounds like "Money", but also very foreign to American (English speaking?) ears. Dash, Ripple, Etherium, Stellar are cool names, but don't say "Currency" to me. BitShares is probably the best name in the top 20.

Vanilla coin is like Vanilla Visa (prepaid) sounding. After initial hesitation I now like it and wouldn't bother changing it.

JReag

member

Activity: 104

Merit: 10

Quote from: nextgencoin on August 10, 2015, 09:14:26 AM

I'm thinking about investing in it, I bought a little but wondering on more.

My hypothesis is simple, it sends and confirms under a second, is decentralised and is anonomous. In the end that really what people want, ie send money instantly with no double spend, who wants to wait a few minutes to buy something?

Right or wrong?

Let's be objective.

Your hypothesis is that Vanillacoin provides something people want and is therefore fulfilling a significant market need.

But the reality is telling us otherwise. There's not enough interest in the project for it to have hit the top ten. You could say it's an issue of marketing, but most people in the crypto realm who deal with alts check out MANY alts.

Now you can spend a lot of time doing marketing and outreach if you have some great reason to believe Vanillacoin is so great, but if we're gonna be empirical here it's your hypothesis that isn't in line with reality.

luigi1111

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Quote from: Hazard on August 10, 2015, 10:07:07 AM

Quote from: nextgencoin on August 10, 2015, 09:14:26 AM

My hypothesis is simple, it sends and confirms under a second, is decentralised and is anonomous. In the end that really what people want, ie send money instantly with no double spend, who wants to wait a few minutes to buy something?

Zero confirmation bitcoin transactions are perfectly safe to accept. Bitpay and coinbase already do this. There's no "waiting" for anything.

The awful name doesn't help either.

Well that's certainly not true. It depends on the use case and the transaction itself.

Bitpay and Coinbase accept the risk of 0-confirm transactions. This does *not* mean they're safe.

Hazard

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Activity: 980

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Quote from: nextgencoin on August 10, 2015, 09:14:26 AM

My hypothesis is simple, it sends and confirms under a second, is decentralised and is anonomous. In the end that really what people want, ie send money instantly with no double spend, who wants to wait a few minutes to buy something?

Zero confirmation bitcoin transactions are perfectly safe to accept. Bitpay and coinbase already do this. There's no "waiting" for anything.

The awful name doesn't help either.

hendra147

hero member

Activity: 644

Merit: 509

Quote from: nextgencoin on August 10, 2015, 09:14:26 AM

I'm thinking about investing in it, I bought a little but wondering on more.

My hypothesis is simple, it sends and confirms under a second, is decentralised and is anonomous. In the end that really what people want, ie send money instantly with no double spend, who wants to wait a few minutes to buy something?

Right or wrong?

so how about masternodes ? may be i will interesting to buy it if dev update it LOL Cheesy

luigi1111

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Activity: 1105

Merit: 1000

Quote from: nextgencoin on August 10, 2015, 09:36:37 AM

Quote from: illodin on August 10, 2015, 09:31:25 AM

People are worn out from there always being yet another new coin claiming to be the next best thing - which they rarely are (not saying this VNL is or isn't). Kind of like crying wolf enough of times and people won't even bother checking them out anymore.

Yeah I get that. But I'm saying with all honesty that I'm simply asking the question. At the moment I see a coin that is respendable in a second and is anonomous, I'm not arguing it's going to become the reserve currency of the world, simply that possibly it deserves to be in the top 10 marketcap of alts?

like I said if people can explain the flaws in my thinking, I'm actually willing to dump what I bought. I can't be more transparent than that honestly. Some of us aren't shrills or FUDers but people simply trying to work out what is the real good stuff and what is the garbage.

Is there actually anything that says how it works yet? Open source?

Oh, and the name...

nextgencoin

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Activity: 1106

Merit: 1000

Quote from: illodin on August 10, 2015, 09:31:25 AM

People are worn out from there always being yet another new coin claiming to be the next best thing - which they rarely are (not saying this VNL is or isn't). Kind of like crying wolf enough of times and people won't even bother checking them out anymore.

Yeah I get that. But I'm saying with all honesty that I'm simply asking the question. At the moment I see a coin that is respendable in a second and is anonomous, I'm not arguing it's going to become the reserve currency of the world, simply that possibly it deserves to be in the top 10 marketcap of alts?

like I said if people can explain the flaws in my thinking, I'm actually willing to dump what I bought. I can't be more transparent than that honestly. Some of us aren't shrills or FUDers but people simply trying to work out what is the real good stuff and what is the garbage.

illodin

hero member

Activity: 966

Merit: 1003

People are worn out from there always being yet another new coin claiming to be the next best thing - which they rarely are (not saying this VNL is or isn't). Kind of like crying wolf enough of times and people won't even bother checking them out anymore.

nextgencoin

legendary

Activity: 1106

Merit: 1000

Quote from: worldinacoin on August 10, 2015, 09:16:00 AM

Give me ten thousand reasons why it should be a top ten coin?

Sorry I assumed people wouldn't be pricks.

Actual intelligent points and no dick waving please...,I'm open to both sides of the argument.

Topic: Give me a logical reason why Vanilla coin is not a top ten coin? - page 4. (Read 4356 times)