Re: Vertcoin | Scrypt N | Beat ASICs | Must upgrade wallet due to a bug in OpenSSL
I don't see the point, well maybe one, of holding onto GPU rigs even if is for Scrypt-n. Right now I can mine Scrypt altcoins on a multipool with ASICs that auto converts to VTC. For this reason I'm thinking of reducing the number of GPU rigs and just getting more ASIC sometime in June. The one thing that's stopping me from pulling that trigger is to wait and see how the adoption of side-chains pan out. I'm not dead-set in this personal point of view otherwise I wouldn't be posting in a forum to hear counter ideas. Monocle is an amazing working proof of concept. Much respect to the coders.
General big picture musings:
I'm a fan of Vertcoin. With the developers and growing mindshare I can't see how it won't continue to gain more acceptance. A trifecta of SHA256, Scrypt, and Scrypt-n is a good thing for the cryptocurrency ecosystem. Don't create imaginary boundaries in your head between the 3 because one flows into the other which can flow into the next and back again. The word 'currency' is exactly that, the flow, the current. In the end they will all help to strengthen each other. The creation of side-chains is, I think, a response to the exclusivity of hash power, ie competing for hash rates. I think more folks in this space are realising that inclusivity is far more advantageous. We are not competing with each other, we are trying to undermine (pun!) the arseholes like paypal, credit card companies, and western union to name but a few.
Vertcoin has already been mentioned on Cavirtex (the real Canadian one) to be added into the main exchange in an email sent out to all Cavirtex members. I also voted for it to be added into the exchange, a linked poll in the email, as I'm sure many others have too. Although I'm not a fan of the suits in charge of Cavirtex.
Current status:
As always, cautiously optimistic
General big picture musings:
I'm a fan of Vertcoin. With the developers and growing mindshare I can't see how it won't continue to gain more acceptance. A trifecta of SHA256, Scrypt, and Scrypt-n is a good thing for the cryptocurrency ecosystem. Don't create imaginary boundaries in your head between the 3 because one flows into the other which can flow into the next and back again. The word 'currency' is exactly that, the flow, the current. In the end they will all help to strengthen each other. The creation of side-chains is, I think, a response to the exclusivity of hash power, ie competing for hash rates. I think more folks in this space are realising that inclusivity is far more advantageous. We are not competing with each other, we are trying to undermine (pun!) the arseholes like paypal, credit card companies, and western union to name but a few.
Vertcoin has already been mentioned on Cavirtex (the real Canadian one) to be added into the main exchange in an email sent out to all Cavirtex members. I also voted for it to be added into the exchange, a linked poll in the email, as I'm sure many others have too. Although I'm not a fan of the suits in charge of Cavirtex.
Current status:
As always, cautiously optimistic
I am not sure if i would invest in asics. Since they are onto the network LTC Nethash goes from 85gh to 220gh and the really big ones are not shipped out yet.
Maybe the producers of the chips mine out all the shit before they make the second time cash on the enduser and ship the miners.
Maybe your ROI goes up to a year or you never get back your invest. LTC for me will be milked like nothing else, as everybody want to get beack his money.
Since the ASICs are on the net LTC price has a steady decline. Who should buy all these mined LTC. In my beginning i want to baghold LTC, mine other alt coins and exchange them to LTC. By now i see no reason to hold LTC. Because i am already into a big loss since i started 6 months ago for me it doesen´t matter if i lost 80% or 100%. My conclusion - stay on VTC because devs said they want to fight agianst asics with all possibilities they have and also stay on coins with anonymos transactions as DRK promises to do.
Someone here posted that also VTC tryies to do something anomymos, that would be great. Dezentralation and anonymos transactions - thats it.
Most of us all dont want to do illigal things with such a payment system. Free citicens need a free money without beeing glass to our governments.