Topic: Vertcoin - First Scrypt N | First Stealth Address - Privacy without mixer - page 102. (Read 1232701 times)

Key factor in my model of inflation proposition is keeping max amount of coins unchanged.

The only difference in long term is the time period - when we will see the max amount of coins
- so the key difference between Bitcoin/Litecoin/Vertcoin and my model is:

Time period is not hardcoded.

This time is variable, matched to the current situation, let say: hardcoded is flexibility.
And flexibility is usually good thing.

If we have greater success of coin (that means: huge network hashrate growth)
- then this time period is shorter, and can be shorter,

what is key matter here, and what is already confirmed by Litecoin case.


(I agree: this future key hard fork - should carry all approved improvements together)

VTC can be spent at a large amount of places. http://www.reddit.com/r/vertcoin/comments/2aoc6n/merchant_monday_7142014/
Whether or not people know about this and use it is a different problem. It goes in line with the other comments we've had about communication issues.

Also with VertVerser, VTC is accepted anywhere BTC is accepted, as long as the transaction is under 125 VTC. That's a low cap right now, dev has said it will increase when it starts being used more.

Vertcoin is commonly known as a fair coin type.

If you have coin, when in case of some network growth - both miners and investors have most fair distribution
of their investment costs into this network growth

- it will only increase the trust, especially in such coin type, right?

You may or may not be right, maybe a decaying block reward would be better (I think it could be better, too). But my point was that it shouldn't be our focus right now, our focus should be on increasing adoption, because without adoption nothing else will really matter.

Attention of most miners is maybe the only thing what we should really care about.
All other details are not so important - when attention of most miners is present and well supported.

(vote for yes, right

I agree 100% with you styxical, but I think it's worth considering going to an exponentially decaying block reward, rather than halving every four years, if the same amount of coins are released over the same time period for the life of the coin, then it should help reduce inflation a bit immediately, but not really change anything long term.

Also, since that would require a hard fork, maybe at the same time change algorithm and possibly implement the shark bite multipool thingamajig or some variant of it, such as block maturity time rather than block reward.

I'd rather see those rates than see the coin ruined. You can recover from a bad price - you can't recover ruined trust.

ppl are already scared.
just take a look at current diff and hashrate. d'u want to see it at the same rates as execoin's?
see coinedup buy orders - there are none.

It definitely would help to grow the network hash rate and secure the network.
it also benefits multipools to jump in especially large ones as jumping in increases reward.
What kind of impact would it have on price is fuzzy to me.
But in general as it would get attention of most miners  (so more people) it might have very positive impact on general awareness.

I've said it before and I guess it needs saying again - inflation is not what is keeping the price down. Look at doge for a prime example of high inflation still maintaining its value. What's keeping the price down is nobody adopting the coin. No demand for the coin = price goes down. Regardless of coin minting rate. ALL changing coin minting rate at this time will do is scare people away - including lots of your current supporters.

important: please add your vote below, for "JK inflation model"
(yes/no preffered)

Please read it again, but slower

There is strictly described contidion there for 40k VTC per day - and it is not 0.002 btc per vtc.

The condition for 40k VTC per day is:

512 GH/s scrypt based network hashrate (256 GH/s Vertcoin)

Probably all GPU miners over the world must mine only Vertcoin now to be close to such result
(- what is the aim of this inflation model, actually

And Litecoin case is the best proof - that such extremaly strong network - can easily handle inflation level equal to 28k coins/day,
and simultaneously: in price more than 0.01 btc (5x times better than your estimation)

handling 40k /day is actually quite close to 28k then - with the GPU network hashrate, what Litecoin even never had...
(and only think about level of adoption here...)
one order of magnitude harder is to go into GPU based 512 GH/s scrypt network from 256 GH/s


and in my model - just now we would have ~5k vtc inflation per day, so I hope it would be quite enough for part of us voting for less inflation

win-win

What I believe would be a good game plan would be to

1. Fix the inflation so that investors stop getting screwed, like seriously. If there is a way to have a decent inflation 0-10% in BTC the price would stabilize. You wont ever have sustained growth unless this point is fixed because every time the price is rallying, dumpers will come back and dump a ton of BTC more than the community can absorb.

2. Only then the whales are going to get in and only then will you see huge accumulation.

3. After accumulation is done, whales are going to market VTC.

By not fixing the inflation, devs aren't helping the community promote VTC. You have to let the whales in. Everyone is in crypto for profit but when inflation is too big smart money won't buy, period.


You can be sure that if I had 300k VTC right now, I would be out there promoting it. But as it is, if I spend my money to get VTC at .002 or .003, miners are going to rape me the minute I do that by dumping 100-150 BTC of coins in people's face and I won't ever ROI.

It's a fucking business. I'm not asking the DEVs to promote VTC I'm asking them to fix inflation so that the whales can buy 300k of it and promote it. That's how others coins works and that's how it should work imo.

I believe in decentralization but when everyone has pennies, they probably wont be willing to promote by investing money as they only have pennies, they usually won't care. Same goes for dev w/o any backing funds. They are going to have fun coding but the minute the fun is gone, dev will be gone too.

So in a scenario where VTC would 5x and trade at .0020, you would then be producing 40 000 VTC instead of 28 000 VTC and thus producing 80 BTC of inflation instead of what we would have now aka 56 BTC. Sound like a good plan.....

The higher the price, the higher the difficulty and hashrate is and the higher the BTC inflation is. VTC is pegged on the BTC value. When I'm talking of inflation, I am in fact talking about BTC inflation and not VTC inflation per say.

Right now I have 0 VTC and have had 0 VTC for a very long time, and will keep doing so until either the community wants to market their product better OR that the inflation is fixed...

 

It will level off soon. We do need more communication. We need articles, info from the devs, and continued advertising.

I'm really not sure how we got to this point. I have to think that people just really don't know about VTC. How can we change that?

With 8.4 BTC/day inflation, do you think Vertcoin  price will start to stabilise?

Well, we have a new member Adam who is actively developing the coin, the iphone wallet, btc-vtc-2-way-exchange, making advers, and revamping the website at the same time.  He is probably too busy and overlook the forum spam. Give him a bit of time to organise things.

Below is my brand new non-linear inflation model proposition :

http://imgur.com/a/sYprA

What are your opinions?

I'm not all all suprised by the downward spiral of vtc, but i am suprised how terribly bad the vtc team is handling it. Every coin is volatile, and the price range is limited by the trust & expectations of its investors. The investors can only judge the coin by what they see/hear on the net.
Here's what they see;
- no updates on plans for the future of vertcoin on bitcointalk or its official forum (Boris is largely MIA/AWOL)
- no strong reaction either way on changing the miner rewards/inflation.
- the official vertcoin forum is a mess (http://www.vertcoinforum.com, see posts by wxy1123 who is obviously a spammer/lunatic/bot that are left unmoderated for over a week).
So the message to investors is: we don't know what to do, we are either panicking or passed that stage and just don't care anymore so goodluck & seeya!
This coin will die a slow death unless the commucication improves, and not just a single reaction here or there.
Investors want to be able to trust the coin and know what they are getting into. Miners want to see a thread on bitcointalk that is actively moderated & up to date on info.

To quote Louis van Gaal
"Ben ik nou zo slim of zijn jullie zo dom?"

DA people don't want investor man. They want to mine and dump.

Price is so low that difficulty is dropping. And the network is becoming less secure. It's spiraling out of control. But hey there is no such thing as pow inflation shhhh man.

Also, VTC doesn't have anybody willing to market for them. it's mouth to mouth.

Monero has inflation 6x higher than here and they have been able to do ups and down. I don't believe it's going to last as at some point people are going to give up but for now it works as it was working for us 2-3 months ago. At some point inflation will catch monero I believe and then the price will drop 10x.


At this point inflation isn't very big anymore. 28 000 * .0003 = 8.4 BTC/day. 3 months ago it was 84 BTC/day. Problem is I know and everyone else knows that as inflation is linear to the price, any decent increase will increase inflation to a point that we are gonna get dumped into by miners to no end.

Inflation should not be linear with the equity gained. As VTC is/was in his infancy the market cap should have climbed a lot and it makes no sense for inflation to go from 8 BTC a day to 800 BTC a day not with only cryptsy as a selling point. If VTC was offered on BTC-e and Bitfinex and at a couple local ATM like LTC is it would be a whole other story. If we had FIAT selling point and what not 80 BTC/day could have been sustainable but NOT with mainly cryptsy as your selling point just my 2c.