Topic: Vertcoin - First Scrypt N | First Stealth Address - Privacy without mixer - page 117. (Read 1232701 times)

Lol it's not the fucking algorithm the problem. Vertcoin would launch with the same feature with a 2 week mining and then POS and I'm 100% convinced that the market cap of VTC would be closer to 10M than to 1M.

I used to mine and all I was thinking about was to ROI my rigs. Now I made 10x on my investment and I cannot affort to have high inflation coin in my portfolio in a bear market.

XMR is imo a MUCH better coin than VTC and one of the best around and I cannot have it in my portfolio as the inflation is 90 BTC PER DAY DO YOU EVEN REALIZE. THAT'S FUCKING Huge. Believe me that XMR is going to have the same problem as VTC is having right now very very soon. You will see it's price cut by 80% as soon as it's less of a hot commodity.

Coins with high inflation :

Doge had and as soon as their inflation settled down it started stabilizing and then climbing back some
LTC str8 down
MYR str8 down
VTC str8 down
Quark fixed it and now they are stabilized
DRK fixed it and they stabilized and then moon
XMR str8 down too

Coins with low inflation are able to find some kind of floor even if they are running cold.

Coins with low inflation/no inflation

BC : On it's floor/trading range
CINNI :  On it's floor/trading range
VRC : Consolidating/trading range
XC: Consolidating/trading range
NXT : Consolidating/trading range
VOOT : Consolidating/trading range

Good coins with decent/good innovation are going through cycles too but the difference between POW and POS is at certain floors bag holder are LESS likely to drop. Pow coins, have new bag holders day after day who just dump their new bags to investors but guess what NO FUCKING INVESTOR WANT TO HAVE 40-100% INFLATION, so it's just dump city.

I wanted to invest 20k in VTC but I won't until inflation is totally fixed with a dynamic block reward that will be function of the marketcap/difficulty. The bigger the market cap, the higher the price, the more miner there is and the less reward there should be to maintain the same integrity of the system.

I'll repeat something again and tell something new. The main culprit as the price drops Vertcoin  is algorithm X11. Due to the mass phenomenon Scrypt ASIC we're expected that all or most scrypt miners move to vertcoin. However, this did not happen because litecoin and other scrypt miners migrated to X11 coins. This is because the X11 algorithm saves about 50% electricity. We need mining software that consumes less power than X11 algorithm (if possible). We need it urgently! That n Scrypt algorithm was more energy efficient than the algorithm X11, we would now have a much larger number of miners, much higher hashrate, much more positive atmosphere and vertcoin price would be much higher and not much less. Then it should be followed by strong advertising. If that does not help,  I would be obligatory to change the block award. All this needs to be urgently and forcefully to perform!

I started mining vertcoin in March and im still doing it, but for the time being it feel like the worst decision I made in recent months.

Few months ago we had innovative coin with great devs and community. And now everything is completely different. Community turn into bunch of people bitching about everything, and I completely understand it. It's not easy to watch your coins drop 80% in value in 2 months. And what is the worst we stopped evolving which is absurd because I thought at start this coin was about constant evolving and adapting to current market situation.

Some people are complaining that changing rewards will undermine our credibility. I think they should consider two things. Block rewards wasn't created to make miners rich. It was created to ensure network safety. End if it isn’t working it should be change. And second, constantly dropping price is more hurting than some changes in algorithm about which people will quickly forget.

I think there is still time to revive Vertcoin. We just need to stop complaining and do some major changes. There was this discussion about fighting multipools and block subsidy at reddit http://www.reddit.com/r/vertcoin/  I suggest to all people interested in our future to read it. Proposed "Shark Bites Subsidy Algorithm" combined with cutting block reward by half to 25 VTC, look very promising and is good start. Check simulation here: https://i.imgur.com/0T7u3lh.png

Time is crucial  and changes need to be done fast. Even with multipools mining our difficulty is constantly dropping now we at 159 and in next days we will go even lower. If we don't do anything Vertcoin will be dead by the end of summer or we will become another “shitcoin” with single digit difficulty.

I also think that clear statement from devs at this is point necessary I know they are discussing all possibilities but constant silence looks really bad.They should announce their decision soon.

strange that the people want their coin to fall.... man thats not the point. The dev team shall do EVERYTHING to save the coin. I think a lot of people say so, because they want VTC to die.

Maybe we should create a poll on reddit and please refrain from "attacking" the devs it is extremely RUDE !

Jiggy, this is a people's coin afterall. What I think Othe meant is if majority of the community disagrees with the inflation, then the majority vote is what is going to be used to decide what will be done or not. This is how it was done when deciding the n-factor for vertcoin. Although, this is not set in stone yet. Hopefully, the community can come to some sort of agreement. =)

The development team are here to stay and no one has left. They do what they do best and that is development. Also, please note that the development team native language is not English and it can come out in a wrong way. But, I assure you, that is not the case.

You should better not write stuff like this! This sounds a bit unprofessional! It means the dev team is not able to find a solution and has difficulties in working together.
I mean... Are you there just for fun or trying to act like a company? This whole thing is really unstable right now and people don't want to hear such stories.
Someone might thing there could be a "dev run away" any time soon.

So the bottom line is: in 2 weeks we will be at 35!

At least tell us why some of you guys don't want to change the reward at all?! This doesn't also make sense,because there has been an agenda posted on reddit saying that you are working on that.

I agree a smooth decline in block reward could be appropriate. However I don't see that fixing the overall issue. So each block decrements by .0001 vertcoins or something ridiculously small? It won't significantly help the inflation. BUT at the same time, drastically changing the reward amount will kill any potential confidence in the future of the coin, imo.

Even if our block reward was only ever 25 or 10 coins per block, we would still be facing the same issue. The price per coin would decline more slowly, but overall market cap would still decline at the same rate. The denomination of the coin people buy into doesn't matter - what matters is functionality and usefulness. Notice how even though DRK reduced their minting rate, their market cap is still declining? The functionality is just not there. The ONLY thing changing minting rate will do is short-term benefit those of us holding coins right now.

People, for some reason, aren't buying the coin, whether because of a lack of perceived utility or a lack of awareness - our focus should be on increasing adoption, not radically changing one of our fundamentals.

I understand that you are one of the people that want it drastically change, but have you not seen the other side as well? You don't need to keep repeating yourself. You have to see it from other perspectives as well and not just for yourself. I am trying to be as neutral and fair as possible. Yet, you come at me with such hostility. I haven't disagreed or agreed with you. Furthermore, if you reread what I wrote, I said "yet". Like I said, the inflation concern is in the works.

i like to respect everybody and expect to be respected back so unless you stop this attitude i would rather have you NOT quote me again, not gonna argue anything in your post because i stopped reading at " you are just a noob" i've been around cryptos since mid 2012 u might be a "noob" compared to me -_- , also calling devs stupid and what not if u don't like the coin get out sell your bag and stop harassing us period ...

Dude, we need a drastic change or Vertcoin is going to Die Off. Darkcoin did a drastic change and its price went up tenfold, and they have a freaking 50% instamine!
The devs just need to cut the block reward 70%, or this coin will die off, its price drops 10% everyday. The community(newbie accs) obviously dont know what the fuck theyre saying, all the older member accs have said that the block reward needs to be cut!

This is something that I can work with as it is not as drastic as halving or severely reducing the block rewards as some people are mentioning. Because we have people wanting to fix the inflation and others do not. I think we, the vertcoin community, just needs to meet in the middle somewhere; a smooth gradual reduction overtime may be the best option, like Othe mentioned.

There is just not enough evidence, facts, or information in reducing the block rewards will save vertcoin. Theoretically, you would think so, but it is not always the case and this is why I cannot agree with reducing block rewards significantly or halving the blocks rewards, yet. Yes, some coins may be lucky, but some are not. If something needs to be done with inflation, then, Othe's opinion has my support!

With that being said, the inflation concern is being heavily discussed and it is not an easy decision for the development team as there are many opinions in what people want. At some point, there will be an answer to this inflation concern. Stay calm, relax, and enjoy the weekend!

Cheers!

You newbie, obviously dont know what your talking about.

Over 20,000 vertcoin is being dumped everyday, the price has been going down more than 10% per day, sometimes 30%.
It's not just VTC, darkcoin etc have been able to maintain a price and stay at that, why? Because only a few darkcoins are being mined each day, not like the 20,000 vtc being mined, which makes extremely HIGH INFLATION for vertcoin.

Without a change in block reward, Vertcoin will keep going down until its worth nothing, it already went down 80% in 1 week.

what's up with all that moaning about the block reward .... changing that very aspect of the coin will undermine it's long term credibility big time !!

stop suggesting this period it's bad for the coin really bad !

i'm holding a bag myself but not looking to quickly cash out @ the cost of the coin's long term credibility like some people here .....

plus all alts are down it's not just vtc .... relax people !

Devs should do what they think is best for the coin. Obviously something isn't working right now. It is pretty disheartening to see what has been happening lately. I've been around since January and at first I hated the idea of changing the block reward, but at this point it seems like its one of the things that needs to change. The price needs to be stabilized so that it has a chance for investors to take a look and trust that its value will be stable.

I actually hold Way more vertcoin that I bought because its cheaper than the rest and can go up because of stealth addresses(183) than XMR. My total amount of XMR is under 30, because I got in very late to buying and if I were to sell my vertcoin or Darkcoin to buy xmr, id be selling it at a a pretty big loss.... I also hold 210 Darkcoin(which I bought a little while back), and is the most of any alt-coin I have.

Vertcoins price will plummet to 10 cents and below, until it becomes worthless. I've seen almost, or probably more than a dozen posts about people wanting the block reward.

If the block reward isnt changed, vertcoin will die off, even the stealth address addon only doubled the price for like a day or so before it dropped 20%, if the block reward was lower, then that announcement would of more than tripled vertcoin's price. The continuous downfall in price is because there are too many vertcoins being mined....and dumped. If less vertcoins were being mined each day, then the price will go up Drastically. Do something about the block reward(do what darkcoin did) or this coin is Dead.

PS: I didnt know you were apart of the Vertcoin dev team, I am truly sorry for that hideous comment I made!

Well, if you think the vtc devs - me including are "stupid as fuck", you should also sell your xmr..

I myself have already stated the emission should be changed, it has to be smooth in my opinion, a regular decrease in the blockreward system and not only every 4 years.

So far a lot of people dont want it, so we cant do much about it.

i guess you don't know who is dictating the market.... so nothing else to say here.

I am still holding, although i  could have day traded vtc between 50-60 and make some money. Instead of panic selling i have been buying another 1500VTC.


The reward problem is insane and makes it almost impossible for VTC to come back to "life".


Where is the problem when i say that we are heading to new "floors"? I mean people should be aware of this situation and believe in the work that is being done by the dev team.

Dont panic and hold on... For me VTC is money that i have already lost, so i don't panic anymore. I see this as a chance to get even more coins.

Nobody wants to use a currency that is losing your money and is quite unstable.

LTC is the same but benefits from the LTC/USD market and see where it goes. VTC doesn't have this luxury. There is less exposure on the market for VTC.

Dev keeps adding features and the price keeps dropping. Add as much feature as you want until the inflation is fixed (dynamic reward) you will have a continous pump and dump chart because minting 25-100 BTC/day is not sustainable for a 2nd tier coin. Every time VTC reach a certain price point the amount of BTC generated per day IS NOT SUSTAINABLE PERIOD.

If you fix the inflation we will HAVE A FLOOR, bag holder won't see their investment lose 50% value every week and having a floor will bring more investors and the price will start rising again. Anyway you do w/e you want. One day you will understand and I will buy for half the price what I would buy now.

No, you are providing logical fallacies. Do you still think a few sentences is going to cut it? Not even a page will cut it.