Search content
Sort by

Showing 20 of 106 results by rapsac
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin - First Scrypt N | First Stealth Address - Privacy without mixer
by
rapsac
on 17/07/2014, 12:00:28 UTC
I'm not all all suprised by the downward spiral of vtc, but i am suprised how terribly bad the vtc team is handling it. Every coin is volatile, and the price range is limited by the trust & expectations of its investors. The investors can only judge the coin by what they see/hear on the net.
Here's what they see;
- no updates on plans for the future of vertcoin on bitcointalk or its official forum (Boris is largely MIA/AWOL)
- no strong reaction either way on changing the miner rewards/inflation.
- the official vertcoin forum is a mess (http://www.vertcoinforum.com, see posts by wxy1123 who is obviously a spammer/lunatic/bot that are left unmoderated for over a week).
So the message to investors is: we don't know what to do, we are either panicking or passed that stage and just don't care anymore so goodluck & seeya!
This coin will die a slow death unless the commucication improves, and not just a single reaction here or there.
Investors want to be able to trust the coin and know what they are getting into. Miners want to see a thread on bitcointalk that is actively moderated & up to date on info.

To quote Louis van Gaal
"Ben ik nou zo slim of zijn jullie zo dom?"
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin | Scrypt N | Beat ASIC
by
rapsac
on 22/05/2014, 01:29:28 UTC
If using Windows, get a second 4gb stick...4gb is enough for linux, barely cuts it for win.

Really don't get this memory thing.  I have eight rigs, each with four cards, all running (linux) with 1GB.  Vertminer never uses over 250mb, including caches.  Adding unused ram isn't going to do anything.
In windows the amd libraries compile the opencl file for the cards as one big (memory)image and upload that to the cards. If you don't have enough memory one or more cards won't start. Once the miner is running it uses hardly any memory at all.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] MON | Monocle | Merge Mined on VTC Vertcoin - No Premine - Scrypt-N
by
rapsac
on 03/05/2014, 12:57:52 UTC
I've been merge-mining at p2pool.vtcpool.co.uk for ~15 hours with an average of 900kh/s. My only payout was 0.06VTC around noon.
I should have gotten around 2VTC and (a guess, i have no idea what the block reward for mon is/was) 1+ mon..
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] MON | Monocle | Merge Mined on VTC Vertcoin - No Premine - Scrypt-N
by
rapsac
on 02/05/2014, 19:13:15 UTC
Looking fro configuration file

monocle.conf

and

.bat  file settings

Huh?


What a stupid start, without explanation
you did it on purpose
to confuse people

Where'd you go
If you would take the trouble to read the thread you would find your answers.
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin | Scrypt N | Beat ASICs | Must upgrade wallet due to a bug in OpenSSL
by
rapsac
on 01/05/2014, 01:19:24 UTC
Yes, but where will the devs hardfork if asic is capable to change N as well ?

To a different algorithm of course!

VTC is not an algorithm, it's a mindset - we will do whatever is necessary to beat ASICs.

A repeatedly hard-forking coin is not suitable for real-world use or merchant adoption. Right now VTC is yet another low-market-cap trader's coin with a small user base so you can get away with this "mindset". Hopefully your eventual ambitions are grander than that.
WTF man? A hard fork or 2 a year means updating the wallets and whatever systems merchants use two times a year. Do you have any idea how often windows / linux or whatever OS updates? As long as the economics of the coin remain unchanged and the security of the blockchain is maintained i say fork away!
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin | Scrypt N | Beat ASICs | Must upgrade wallet due to a bug in OpenSSL
by
rapsac
on 26/04/2014, 12:04:22 UTC
Has this already been adressed? Hidden VTC instamine?

https://bitcointalk.org/index.php?topic=576107.msg6397907#msg6397907
There were hardly any miners mining this coin, especially when it was cpu only. I stumbled on vertcoin 2 days after the gpu miner was released and have been mining it from then on. The diff was at ~2..4 when i got in.
Sure, the diff must have been low at the start, and there were only a handfull of miners, and the diff retarget was slow, giving those miners a FAIR advantage. Anyone could have stepped in at that time. If you were not smart enough to get in then (like i didn't) and did not have the vision to do so then you call the early miners insta-miners? What about the early bitcoin and litecoin miners? Insta-miners too?
And why hidden? All coins were mined after the release no? Hidden insta-mine = mine before release, obviously that hasn't happened to vertcoin.
This is just someone pissed at not getting in early by ignoring the coin at the release.
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 06/04/2014, 10:09:39 UTC
A: Did i imply knc was for scrypt-n? That was not what i meant.

I interpreted this way as well. It's good you did not mean that. However, why, then, should this be a deadline to look forward to? It is very arbitrary in the grand scheme of things. There are other ASIC manufacturers, for example, why not pick their release date? Why not Halloween? Why not the next coming of Christ?

Roughly 2/3 of the litecoin community is not happy with the comming asics (and rightly so). These ppl are looking for an alternative and vertcoin could very well be that alternative. Get them while they are pissed off at litecoin.

Just because it may appear that 2/3 of people in the FORUM are not happy with coming ASICs does not mean 2/3 of all Litecoin users feel this way. You can not extrapolate to the entire population with such a small sample size. I think it would be foolish to place strain on our own community (hard fork) based on the assumption that these users will switch over. Our coin speaks for itself - people will come over or they won't.

You will have to get used to more frequent forks, if not or if the devs do not choose to do so then the asic resistant claims are as toothless as all other asic resistant coins have been and will be as any 'big' coin will get attacked by asics.

As i said before: this is a unique chance to be different from the other (failed, at least on asic resistance) coins. Vertcoin will have to do things different, and let people know they do things different.

More frequent forks, maybe. But not unnecessary ones. What's the point? You are wanting to inconvenience thousands of people for no reason. Being different to improve the coin is good; being different just to do random shit is stupid.

Release date: knc is most popular in chatboxes(release in roughly 6 month)+ 'announcement' of scrypt-n asic (they will do a tapeout in roughly 6 month if they are not lying).
LTC'ers against asics:
Ok, then you do a poll and ask ALL litecoin users.
Forks:
Any random shit is stupid. But being ahead of things is hardly stupid? Showing you mean business when threatened isn't stupid? Being THE asic resistant coin isn't stupid?

I said over and out before. I mean it this time, no more replies from me on this subject. I think i've said it all multiple times (to the point where readers think they are invading my thread Wink ).
Vertcoin needs to do things different. Get a system in place for easier updates/forks, advertise your plans for the futere (still not happening), get prepared, be pro-active!
Failing any point above-> bye bye asic resistance, or at least fail to get the userbase/growth perspective to be the #1(/#2) coin.
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 05/04/2014, 16:34:35 UTC

I also think a hardfork should happen before the release of the knc scrypt miner to show that vertcoin means business with its asic resistant claim.

No.

A) The KnC miner isn't even advertised as a n-scrypt ASIC.
B) Why would you want an unnecessary hardfork when this ASIC hasn't even been released and proven to mine ASICs? Because you want to show VTC means 'business'? That would show the opposite.

A: Did i imply knc was for scrypt-n? That was not what i meant. Take a look here: https://litecointalk.org/index.php?topic=11864.0
Roughly 2/3 of the litecoin community is not happy with the comming asics (and rightly so). These ppl are looking for an alternative and vertcoin could very well be that alternative. Get them while they are pissed off at litecoin.
b: Pls elaborate. You will have to get used to more frequent forks, if not or if the devs do not choose to do so then the asic resistant claims are as toothless as all other asic resistant coins have been and will be as any 'big' coin will get attacked by asics.

As i said before: this is a unique chance to be different from the other (failed, at least on asic resistance) coins. Vertcoin will have to do things different, and let people know they do things different.

I think i've spammed my view often enough, time for me to wait and see what will happen.
Just to recap:

Asics lead to centralisation
The fact that asic miners have a very low overhead and are very cheap to produce (<<$10 production, <$1 overhead (switching regulator)) means mining factories can be built for very low cost and a 51% attack in every conceivable form is possible and will happen if the coin has become a major player. I'm not going to say much of who is really in control over the coin once asics miners are the only ones left mining a coin.

Asics will be developed for any PoW when money is at stake

The only way to fight asics is to stay on top, more frequent forks, make some system to handle forks better, get users to expect forks and know what to do.

In very short: do you want the asic producers to run the coin or the community?

Over and out.
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 05/04/2014, 11:41:15 UTC
http://blissdevices.com/tech-specs/

"Scryptr also provides a high level of flexibility to support mining of newer coins that are “fairer” to miners such as Vertcoin by allowing configurable Scrypt parameters. Also, the chip’s PCIe interface enables faster and greater data transfer speeds, if and when new algorithms require more network data."

http://www.reddit.com/r/scryptmining/comments/20x6r0/bliss_devices_announces_new_prices_on_scrypt/cg8xcd6

"Our chip supports configurable N parameters which allows it to mine N-factor scrypt up to N=262144, which is still about 35 years away."

...so when can we expect the change of PoW?

That leaves us 6 months or so to think things through.

I would suggest
- Get more brains on board for the PoW. Plan a tick-tock or tick-tick-tock scheme for updates to the PoW (tick is small change to the algo, like different primenumbers for the sha256, one extra hash round..)
- Work on a system to make hardforks easier. Users need to get used to more frequent client updates
- Make sure any hardforks do not change the parameters of the coin (rewards/blocktime/minability)

I also think a hardfork should happen before the release of the knc scrypt miner to show that vertcoin means business with its asic resistant claim.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][EXE] Execoin - Fast | ASIC resistant | Multipool proof | KGW | no-premine
by
rapsac
on 04/04/2014, 16:34:28 UTC
How about that? Exe on cryptsy and the deposits at cryptsy work!!
That means; skip the pump phase and go right to the dumping Wink
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 04/04/2014, 14:20:11 UTC
Will vertcoin communicate its stand publicly? Will vertcoin when push comes to shove do the 'right' thing?

I don't know how many times we have to publicly say "VTC will hardfork if necessary to keep ASICs out" - we must have said it a hundred times!

I'll say it again, in case repetition number 101 will help - VTC will hardfork if that every becomes necessary to keep ASICs out. This isn't LTC, we're not going to suddenly decide to give up and capitulate in the face of a need to hardfork, we will do whatever is necessary to keep VTC decentralised and in part that means excluding ASICs by whatever means necessary.


Don't get me wrong, but i have heard you say this as often as you said this Wink
Just include
Quote
VTC will hardfork if that every becomes necessary to keep ASICs out. This isn't LTC, we're not going to suddenly decide to give up and capitulate in the face of a need to hardfork, we will do whatever is necessary to keep VTC decentralised and in part that means excluding ASICs by whatever means necessary.
on a prominant place on vertcoin.org. Use it to get more ex-ltc supporters and maybe even some coders on our side. You can't get better free exposure than with this right now.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][EXE] Execoin - Fast | ASIC resistant | Multipool proof | KGW | no-premine
by
rapsac
on 04/04/2014, 00:55:04 UTC
I would not spent any real money on those votes. Instead donate to the dev, he can do more than just get the coin on craptsy the dumpers heaven. If volume on the other exchanges is high enough for little vern to see profit for him he will add it with or without votes.
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 04/04/2014, 00:32:55 UTC
I don't think it is correct to say other developers have not planned for asic. Some new coins are much more aggressive in dealing with this issue and the problem is handled as best can be so far from the coins launch. I shall not name names because I am not trying to hijack your thread.

And I think that talking about a hardfork of any coin pretty much means that coin already has death hanging over it. Basically a hardfork is just creating a new coin because the old one is not working. So far adjustable n-factor of any scrypt coin seems to be the temporary solution. VTC was unique in this way but any coin with increasing n-factor means it is just a matter of time before its memory requirement is more suited to cpu mining. No one seems to mention the increasing speed of cpu and faster dram coming to market, where will this be in 2-5 years?
The increasing speed of computers is factored in in the N-schedule. But what the future brings is anyone's guess.

Why in F4cks sake would a hardfork kill a coin? Yes, you create a new coin technically speaking, but that does not mean the old coin is 'broken'. In this case it would be no more than maintanance to stay true to its specifications.

The moment i doubt the asic resistance of this or any future coin i will dump the shit out of it. If i want a asic-raped coin i''ll stay with bitcoin and hope for the best. There has not been any coin including bitcoin that has seriously considered and chosen to stay true to its claims and the users, and i'm fed up with this.
So i would appreciate some planning ahead. There is none at the moment. Heck, on vertcoin.org there is no word on the possibility of a fork, just the hope scrypt-n will keep asics out. For how long? 1 Year? 2? I bet its no more than 1 year. What will happen then? What is the plan? Can we be informed before this happens? Will vertcoin communicate its stand publicly? Will vertcoin when push comes to shove do the 'right' thing? We are at a defining moment in time to make vertcoin future proof, and i don't want to see it turn into yet another fire and forget coin.
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 03/04/2014, 23:24:30 UTC
Again, in case anyone missed it, I present to you, a new block explorer: http://vertexplorer.com
Looking nice!

Here's my (hot) wallet to show i'm all in vert: http://vertexplorer.com/address/VcduRe3iQZfPPQxuJaxqPdVSqoGyDUar21
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][EXE] Execoin - Fast | ASIC resistant | Multipool proof | KGW | no-premine
by
rapsac
on 03/04/2014, 23:16:12 UTC
Every discussion is worth having Tongue
The picture shows the individual's doa%. These matter and will lower your payout. By choosing the right node and lowering the intensity you can bring that back to around 3%. As most other miners will have a higher doa% you will gain extra by getting a higher share%. So make sure your doa% is lower than the rest of your node's miners.
Remember that your absolute valid hashrate does not count, but your valid hashrate compared to that of the other miners does.
The pool doa% doesn't matter at all.
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 03/04/2014, 21:26:27 UTC
Well, i think if they approach dangerous hashing levels they will be detected and forked. A little asic action should not hurt the coin?
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][EXE] Execoin - Fast | ASIC resistant | Multipool proof | KGW | no-premine
by
rapsac
on 03/04/2014, 21:21:26 UTC
Mostly true. But check a p2pool website (http://freebtc.eu:9173/static/). You'll see doa% for the pool is ~20%. Those % do not count in lost hashrate for you. Only the doa% for the miners count, and everyone has a higher % on p2pool so your share from the profits are not affected by that (but do try to get your % down, this will up your valid hashrate).
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 03/04/2014, 21:14:40 UTC
I don't like PoS. No work should mean no money, just like in the real world. With this method early adopters get most coins for little work. Plus miners will only get tx fees when most bag holders do what they do; hold bags generating no tx fees..
Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
rapsac
on 03/04/2014, 20:59:51 UTC
I think if you are making it seem like he devs "may or may not" follow their words and make changes if asics were created for the coin you probably haven't listened to many of the podcasts have you? Have you actually listen to Boristhespider talk? The guy assured everyone that they already have a plan prepared (not might do something) it is already prepared for if asics were to happen today for vertcoin...

Your responses sound like speculation when the message from the devs are very clear. There is no need for a hardfork.
I've listened to every podcast and read everything. I even spammed btc-e trollbox on every occasion at the risk of a ban Tongue
It is irelevant if i believe if the devs will keep their word or not. What matters is what asic developers believe, and what all coin users believe.

Everyone being on the same level (ie having access to ASICs) is an improvement against threats (leveling the playing field). But we've got some things backwards as GPU miners because we like to mine with GPU and not see our profits go down. A coin that pleases miners but isn't taking its network security seriously, is just deluding itself that it is better off with low-level mining equipment (when others could have developed orders of magnitude better mining equipment).

It's exactly the same with the collective delusion of cpu only coins that are at the same time mined by gpu clients that cpu miners are unaware. "It's a botnet", "it's a server farm" etc... yep, sure. That's the kind of delusion that awaits gpu miners when unannounced ASICs will take over. When you've played your own card by stating your intention that you'll shift PoW algorithm when ASICs get out, then it's simply logical that when ASICs are made, they will not be announced. They will simply mine on the network while everyone complains about how unprofitable the coins have become compared to the electricity that they are burning (because ASICs will be taking the bulk of the profit, masquarading as GPUs).

The cryptocurrency networks are more about securing the networks than benefiting a sub-optimal class of miners with excessive energy waste and low hashrates, like the GPU miners. And let's be honest here: Most GPU miners simply "love" certain coins because they can mine them and dump them. They don't care about centralization but rather maximum profit. That's why they end up in the largest pools, hurting the coins that they are mining.
I mostly agree. But i don't believe the chance for stealth asics to be very high. Used asics would be worthless and development costs would be very hard to get back on a few asics. As soon as the asic% gets too high they would run the risk of being forked.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][EXE] Execoin - Fast | ASIC resistant | Multipool proof | KGW | no-premine
by
rapsac
on 03/04/2014, 20:48:06 UTC
You should get your hashrate in kh/s divided by the diff in coins/day. But luck plays a big part too. The smaller the pool your mining at the  more luck factors in. With a p2pool you also get a ramp-up/ramp-down in rewards/block and you will need to gather data over a longer period than 24hrs.

And generally p2p pools have 10-20% Orphaned or DOA shares. IE LOST HASH.
DeltaQuebec did explain it but but to be more specific about the 'LOST HASH';

The doa% for the pool IS much higher with p2pool. But that doa% is for the p2pool blockchain and does not propagate outside to the normal blockchain. And thus will not influence payouts. The doa% for your miner is also a little higher and you will get a lower payout if you don't try to get that % down as far as you can (best by choosing a node with a low ping time and lowering the intensity on your software).
The blockchain for p2pool is 10? times faster than the normal blockchain, and also has a 10? times lower difficulty. This will result in the higher doa%. When a block is found within the p2pool that block often propagates faster to the outside world, making the chance it gets orphaned smaller. As with all pools in p2pool the rewards are shared among the miners. Your share% depends on your hashrate-doa so try to get your doa% lower. The shares that are orphaned from your p2pool node to the other p2pool nodes do not matter. They are not at a sufficient difficulty for a 'block found' anyway, and i think they will still count as valid shares in your node (not sure about that though).