Can we support merge mining with bitcoin? Litecoin seems to have little use for this - and I see it massively driving up the price of whatever coin does it (as it's essentially adding massive security to bitcoin)
It is much more along the lines of silver to gold in crypto terms. And ONE GPU coin to back up the primary ASIC coin (BTC) .. I don't see how we could lose.
http://Https://bitcointalk.org/index.php?topic=176556.0I brought the same thing up in reddit & decided to copy why I think this would be an awesome move for Vertcoin.
I made the assumption others would instantly jump to my conclusions about how this will help out. Or as far as I'm concerned cement into the future whatever coin does this (and one will eventually).
1 - Bitcoin market cap is roughly 8 billion dollars. This is over 4,000 times Vertcoins market cap. I pay approximately 10% per year to insure my car in money I never get back. Vertcoin providing "insurance" for bitcoin accomplishes two things for Vertcoin.
A - It uses GPU's to insure against ASICs. Something I believe will become an increasing problem that another coin will wind up solving for bitcoin.
B - It taps into the inherent value of hundreds of millions of dollars that have been spent on bitcoin ASICs. Plus the value of the much larger time period of bitcoin / blockchain size of bitcoin. Plus the value of the larger adoption of bitcoin. Pretty much all alts = x% of whatever money is in bitcoin at a given moment. This will increase the confidence in at least bitcoin/vertcoin viability.
C - It puts Vertcoin in a position to shine next time there is a 51% attack on bitcoin. What's going to happen next time a pool grabs 51% - but someone explains that the primary GPU coin is making the 51% attack impossible?
In summary it adds insurance capability to vertcoin for an existing store of value. It puts Vertcoin in a position to shine next time the masses are made aware of bitcoin centralization. It adds functionality that litecoin can't/won't add.
Vert is slipping - price is not my primary concern but it is some type of reflection of the confidence people have in it.
The more I think about the idea - the more sense it makes to me. Vertcoin is essentially sharing it's decentralization with the biggest coin on the market to PROVE that true decentralization is ASIC free.
