Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs
Having a VTC/USD exchange would be the best thing to do IMO. It will allow the public to buy VTC without first buying BTC, thus removing the fear/distrust of BTC in the process. It'll also allow people like me who are not mining fast enough to get more VTC easily 
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I've happily engaged people on mining, some of them get it and some don't, never hurts to try. I don't think it makes sense to explain cryptocurrency to anyone without talking about mining. Where do the coins come from then? I've frequently used the concept of actual (gold/silver) mining to explain it and get a eureka moment.
.I've happily engaged people on mining, some of them get it and some don't, never hurts to try
. I don't think it makes sense to explain cryptocurrency to anyone without talking about mining. Where do the coins come from then? I've frequently used the concept of actual (gold/silver) mining to explain it and get a eureka moment.The metaphor of gold mining is exactly what I use to describe it! It need not be exact, just "close enough" so that people get the general idea.
mining the currency using a desktop computer or more powerful computer = mining for gold using a pick axe or a big drilling rig
Increasing difficulty = going deeper into the mine
Pools = teams of miners
limited number of coins = the mine only goes so deep
trading with others = taking the gold out of the mine and exchanging it with someone else
etc
When they say that the digital coins have no inherent value, I tell them that neither does gold. People value it because others do (or it is somehow useful), so therefore it becomes valuable.
There was once a time when striking oil on your land made your land much less valuable. It was a curse. Simply because others did not value oil.