Re: Vertcoin - 1 | ASIC - 0 | Lyra2RE | Decentralised | GPU Mineable | Open Source
many miners go to zcash, from the standpoint of mining vrt looks good, but price ... and a view of the future looks badly oh badly 
Zcash does look interesting. I'm waiting for it to settle before I do anything with it. The price started around 1.5 btc and now it's around .2 btc . The creator of vertcoin made that .Poramin didn't make Zcash (or Zcoin). His former professor at Johns Hopkins, Matthew Green, is an author on both of the papers describing these protocols ( http://zerocoin.org/media/pdf/ZerocoinOakland.pdf and http://zerocash-project.org/media/pdf/zerocash-extended-20140518.pdf ), Poramin Insom is not. The creator of vertcoin (Poramin) implemented zerocoin, first in a closed source scam called Zerovert, and now later in a hugely instamined coin called Zcoin. He is unaffiliated with Zcash (which is also scammy) afaik.
The closed source 'scam' is explained here:
Quote
When Zerovert was launched in November 2014, it was primarily an experiment and we didn't have any investor backing. We still wanted to protect our work and thus our only choice at that time was to make Zerovert closed source so that it could not be copied. However we quickly realized that in the cryptocurrency world, closed source software made it almost impossible for our project to be vetted and hence taken seriously so we were in a quandary.
Zerovert was originally intended to be part of Vertcoin's ecosystem however Vertcoin's community were not keen on it. Zerovert's also suffered from very poor performance and had huge scalability issues and therefore the project went silent while we figured out how to solve many of the challenges we faced with Zerovert.
We subsequently managed to fix many scalability issues and these changes have been incorporated into Zcoin. Starting afresh with Zcoin allowed strong investor backing from the likes of Roger Ver and allowed us to dedicate ourselves fully to this project rather than a mere experiment. With investor backing we also could finally make our code open source while still protecting our efforts. These considerations were what prompted us to wipe the slate clean with Zcoin instead of continuing with Zerovert which was never intended to be a serious project.
Zerovert was originally intended to be part of Vertcoin's ecosystem however Vertcoin's community were not keen on it. Zerovert's also suffered from very poor performance and had huge scalability issues and therefore the project went silent while we figured out how to solve many of the challenges we faced with Zerovert.
We subsequently managed to fix many scalability issues and these changes have been incorporated into Zcoin. Starting afresh with Zcoin allowed strong investor backing from the likes of Roger Ver and allowed us to dedicate ourselves fully to this project rather than a mere experiment. With investor backing we also could finally make our code open source while still protecting our efforts. These considerations were what prompted us to wipe the slate clean with Zcoin instead of continuing with Zerovert which was never intended to be a serious project.
Instamine and founder's reward are pretty different. Instamines are created upfront while founder's rewards are spread across through the time and are transparent. This ensures that the founders cannot cash out immediately and are incentivized to keep development ongoing at least for the duration of the founder's rewards (4 years in Zcoin).
I spoke with Poramin has not ruled out returning to help out with Vertcoin development once he implements some important fixes with Zcoin. He had thought he had left it in good hands with two devs but when those devs moved on with life (working on startup and studying at MIT) Vertcoin's development was stalled. It wasn't the intention to 'abandon' Vertcoin and he spoke to me about how he wanted to implement EVM for Vert when has has time.
This is getting a bit ridiculous. Even if this Poramin "I spoke with him and he said..." guy comes back Vert still has no plan, and honestly looks like Poramin has a shit reputation in crypto. We're all holding our breathe for a Chinese pump that, as time goes by, keeps looking less and less probable.