Topic: Vertcoin - First Scrypt N | First Stealth Address - Privacy without mixer - page 327. (Read 1232734 times)

Help Vertcoin get on BTC38 and CryptoAve by voting for it!

https://bitcointalksearch.org/topic/poll-lockedill-start-a-new-post-soon-501963

https://bitcointalksearch.org/topic/cryptoavecom-adding-one-more-coin-for-btcusd-exchange-which-should-it-be-502900

Thats actually a good idea. Someone should post the idea at http://vertcoinmarket.com/.

Also, would be nice to see a Wiki, maybe funding to that too?

I'll be donating

Edit: English is not my first language: Would do it if I could write a litle better

The total number of coins does not limit its value! Only supply + DEMAND. If only few people are using crypto at the moment then if everything goes well and crypto becomes more mainstream the current rewards are (barely) enough. Scarcity is also a weak excuse for inherent value and contra productive in the grant scheme.
The only thing that is important is that vertcoin gets more acceptance and the big problem is getting new (non-miners/non-techies) people to use the coin. Also the (pumped or not) value of the coin at exchanges at the moment is meaningless. As soon as its no longer economically viable to mine vertcoin the miner-dumpers will run out of coins and the exchange rate will stabilise (to whatever value, probably around the 0.0015 mark?).
So the question remains, how to get more people involved in vertcoin for the demand side of things.

This has been discussed just a few pages ago. The notion of a p2p exchange only makes sense if what you're sharing between peers can be represented and exchanged digitally, without trust - physical dollars can't and the payment processors dealing in digital representations of the dollar are strictly regulated. At some point you need to bridge to the fiat world and at that point you must comply with their rules. This is one reason why the current exchanges are so shaky - their business model is entirely predicated on their ability to operate within the laws of whatever country they operate within, and legislation against cryptocurrency exchanges could arrive at any time.

A decentralised cryptocurrency exchange is possible (a secure, trust-free exchange from one cryptocurrency into another), but payment out to fiat is a hard problem that is not limited by code, but rather by law.

86 votes or 3.1% for now, keep it coming guys

This is a concern

Posted!

I think the subsidy half very 4 years is the main selling point for this coin apart from ASIC resistance. It puts it on par with Bitcoin and litecoin. Halving too fast is unfair to later comers. The purpose of the coin is not to issue it to the earlier adopters, but to be released slowly to the circulation to be used. When it is adopted by more users, then the transaction fee could keep mining going.

I will not touch the coins which have mostly premined or with faster subsidy halving. I will not mine those coins.

Many people believe in VTC, thats not a problem, its not premined, its immune to ASIC, it was the first globally known coin which made it, so the potential to be a new litecoin is big enough.

The problems are:

1) Subsidy halves every 840,000 blocks (~4 years) = huge daily inflation, 1-2 years would be enough. 84mil. coins mean that the value of 1 VTC will be in few years similar to 1 LTC in the BEST scenario. However the daily inflation will be many thousand bitcoins so its impossible to go long term over 0.01BTC of its today value in 1 year. In the best scenario again.
2) Altcoin global depression and loss of trust due to many scamcoins
3) Still has not bottomed, expecting the real bottom at 0.001, all altcoins will crash but this one will crash not so hardly.

Bitcoin still looks like a better investment and it will be probably whole next year.

I've just been catching up on last night's AMA, and one unanswered question towards the end of the thread really stood out for me. From fpvhawk:

"How about we fund our own vertcoin P2P exchange opensource software, you download the software and place your buy/sell order. Each order has has a small fee that continues to fund the development of the exchange."

As we all know, the exchanges are the weak link for all cryptos.  They are the BIG reason for recent price declines because MT Gox and other smaller exchanges have very publicly demonstrated that the exchange model is flawed.

It seems to me there are two distinct groups of people that use exchanges:

1.  People who are converting from FIAT>>>BTC (or if they're savvy FIAT>>>BTC>>>VTC) to buy and hold.
2.  Traders who are looking to profit by successfully trading the volatility between different Crypto pairs.  This group also includes miners who may send their coins to an exchange.  This group has no real need to deal in FIAT on a day-to-day basis.

In the short term, it's difficult to see a solution to this problem, because the conversion from FIAT>>>Crypto is a weak link.  People looking to convert to Crypto from FIAT will always be vulnerable.  It's also in the interest of governments to make this conversion seem as risky as possible (by sabotaging/hacking exchanges???), to keep people in FIAT.  So the first group of people will be vulnerable for the foreseeable future (or for as long as FIAT continues to exist ), but the good news is that they can mitigate these risks by not leaving money in an exchange wallet, because they have no desire to trade.

The 2nd group of people are truly at the mercy of the exchanges currently, because they must leave their coins in an exchange wallet in order to have orders open on the exchange. It is clear that this is the group of people that would stand to benefit massively from the security of a p2p exchange.

It seems to me that the Vertcoin community has embraced p2p for mining more than any other coin. P2pool is consistently >10% of total network.  Surely the next logical step for this coin is to explore the idea of p2p exchange?

BTC currently holds a huge advantage because it's the yardstick by which every other coin is measured, AND, most people still use it as a gateway to trading in/out of other Cryptos.  All currency pairs are XXX/BTC, or to a lesser extent XXX/LTC.

Imagine if VTC became the first coin to offer the security of a widely adopted p2p exchange, offering XXX/VTC markets for all the other Cryptos, and in the process capturing a huge chunk of business from the 2nd group of people I describe above?

I know I'd be willing to throw quite a few VTC in the pot to make such a thing happen.

Get some support here.

(I am gonna post in big bold letters next time).

Yes, that would be awesome!

Voted

At this point it is not so ...
VERTCOIN is currently very low price

people continues to mining .... Why?

but now they make more money in other coins
sadly .... so everyone has to pay electricity and investment

Voted, needs moar!

Can someone post this on Twitter (if it isn't already)? We need to utilize our Twitter army. Also, Facebook page should have this as well.

Voted, let's go ppl, if we get on BTC38, it will be huge!!!

+100 If you are willing to put your life savings into something you have to be pretty damn stupid to not think about where you are investing. Mining for 2 months and you're not in profit yet... maybe grow a pair and realise you invested into a long term market and you can't go on holiday this year unless you get damn lucky.

Voted, gogo

I had suggested long back to implement a gradual decrease in rewards rather than halving once every 4 years. This decreases the number of coins generated per day while keeping the total supply same.