Name one reason why Vericoin should be a thing
Did you play the Hyperdimension Neptunia games? If you did, you wouldn't be asking that question.
>Hyperdimension Neptunia games
sorry but i have a gf
>gets bullshit images
dual blockchain shit is great on paper. if they succeed this will be beast of 2018.
So what problem does dual blockchain solve?
Yeah bro, 2018 is going to be a big year for Vericoin. They are also going to have a big publicity drive.
You are bad at shilling.
BTW Ripple is not even a real coin.
Binary-Chain is the most comprehensive solution to ensure
low cost, secure, fast and scalable digital transactions (i.e the biggest issues in crypto at the moment).
I own a coin that has
PoS (fast and scales with network usage)
Low fees (like 0.0007 USD)
So none of these issues exist for some of the coins.
Current digital currencies face an impossible task of trying to be both a fast currency and a secure store of value. VeriCoin and Verium together solve this problem with the groundbreaking dual blockchain system called Binary-Chain. Binary-Chain, secures and accelerates transactions by leveraging complementary protocol technologies (PoST [Proof-of-Stake-Time] and PoWT [Proof-of-Work-Time]), into a cutting edge blockchain ecosystem. This results in:
.Reduced transaction times for VeriCoin (as fast as 30 seconds).
.Improved Verium transaction times from 5 minutes down to 1 to 3 minutes.
.Full decentralization through two chains (PoST and PoWT)
.A fully secure digital financial system
>urrent digital currencies face an impossible task of trying to be both a fast currency and a secure store of value.
That's just wrong. That might be true for BTC, LTC and all the fist gen clones but not for true PoS coins.
PoW and derivates are outdated.
>PoW and derivates are outdated.
That statement is not really true is it.
It is. You don't need PoW anymore since PoS 3.0 exists.
There are benefits, such as cost of production creating a floor. Think about gold mining for a parallel. You have to remember the PoW applies to the reserve (Verium), not vericoin which is PoS. It performs pretty like a bank should do. With gold as the reserve and interest gained on cash deposits.
>Think about gold mining for a parallel.
Gold mining is a bad analogy used by bitcoin to describe their "mining".
But in fact, "mining" is a lie. Coins are not mined. The work in PoW goes entirely into solving a puzzle that has its whole purpose in making creation of coins costing an effort.
Gold has it's value due to the things that can be done with it. Electronic circuits, jewelry, technology ect.
PoW work is wasted energy because the energy is not used for anything productive.
If the mathematical puzzle would at least solve a problem like in a Pay-for-Proof scenario (think of [email protected] shares) but it doesn't.
You are thinking about the analogy incorrectly.
It is obviously not mining.
The parallel is useful because both crypto mining and gold mining cost money. The cost of mining provides a price floor, this is the relevant aspect.
Golds value is highly inflated past the price of its mere utility btw.
As for 'wasted' energy consumption. Who gives a fuck, man made global warming is a meme and if it isn't you will just have to get used to swimming with Polar bears ;D.
>The work in PoW goes entirely into solving a puzzle that has its whole purpose in making creation of coins costing an effort.
Satoshi was a very smart man.
>crypto mining and gold mining cost money
But crypto mining doesn't produce anything of value. As said, gold has a value because it can be used in many applications.
PoS deals with this issue based on the fact that any computer, even a Raspberry Pi is fast enough to write a block. And since the coin is the only value that exists, PoS uses this exact value to create blocks.
>Satoshi was a very smart man.
Satoshi intended that everyone using the blockchain maintains it. He didn't predict the mining industry. The original Satoshi client still has mining functionality build in but most miners today run dedicated hardware that do nothing but number crunching and sending shares to a pool.
Miners don't have to have any interest in the coin. They are forced to sell the coin on the market to cope with their energy cost. They don't even need to hold any coin they mine.
PoS is more close to Satoshi's intention. It makes sure that the ones maintaining the coin are the same people that also use it. You create blocks by having coins. That makes the coin secure because attacking the blockchain means you attack your own stock. Also gaining significant power over the network requires you to buy huge amounts of coins, which automatically increases the coin price and thus the amount of money you need to invest. That would increase the money needed into the billions. While in PoW you generally can sell the hardware after you ran your attack. As a miner you are not a member of the blockchain, you are a worker who gets hired but doesnt need to have any honest interest in the product.
yes but the cost of mining btc fluctuates with difficulty which may be correlated to the price itself, unlike with gold mining
>Who gives a fuck, man made global warming is a meme
I don't care about global warming here. The energy is still wasted because it does nothing. It creates hashes until you found a number that you then write into the block header.
I actually don't give a fuck if you use the energy saved to play games, watch porn or save the planet.
We need to waste more energy tbq, carbon dioxide helps the crops grow. PoW will save the human race.
>carbon dioxide helps the crops grow
There is more CO2 than all the crops on the planet ever need even if you covered the whole surface with crops.
Yet we still pump carbon dioxide into green houses.
Because green houses are an encapsulated system. The carb concentration will lower over time so they pump them in.
But in the open, crops are carbon neutral. The carbon the plant consumes is put back into the atmosphere by you and the animals who eat the plants. If you eat your bread, you pull out the energy the plant pulled from sunlight and breath out the carbox it consumed. The parts of the plant that you don't have in your bread are eaten by other animals like cows or just microorganism when they compost the plant.
Additional carbon dioxide facilitates increased plant growth. These are facts.
There is more than enoug carbox in our atmosphere for all plants on the planet. These are facts.
Not more than enough, there is enough for the plants that exist now. With more carbon dioxide we will have more plant growth.
There is no shortage of carbox
There is if you want increased plant growth.
To feed the world through increased crop yields. Verium with its PoW mining will solve world hunger and starvation. I can't believe that you would be so heartless as to oppose this.