[ALTCOIN] Vertcoin on the rise.. Possible contender to LTC/BTC?

VTC is a relatively new scrypt-based cryptocoin (and yes, I know what you're all thinking, another alt... Enough already) with a twist. It's actually new.

It combines 2 forms of code that allow for a very usable form of protection against the common issues (multipools and ASICs) that face coins today. Multipools (such as middlecoin and multipool, two of the larger ones available) have a fantastic advantage over other miners, as they are able to overwhelm the average miner with sheer hash power, solving the majority of blocks daily, thus drawing more folks to contribute to their pool.

This is detrimental in the long run as it causes the severe devaluation of coins when the ensuing dump of the alt they were mining at the time arrives.

ASICs are self-explanatory.

A few coins have set out to solve that issue implementing codes such as scrypt-janes and KGW (kimoto gravity well) which adjusts difficulty PER block solved, but none have implemented the superb multipool/ASIC resistant features that VTC has.

Here is some information from the official VTC thread regarding this.

Due to the large demand for having a more ASIC proof currency ( https://bitcointalk.org/index.php?topic=359323.0 ), Vertcoin was created using Litecoin as a base, and has an adaptive N-factor applied based on the timestamp of blocks generated. Instead of using a fixed value of 10, such as Litecoin does, the Vertcoin N-factor begins at 11 and gradually increases over time using the following schedule:

| N | Memory | Timestamp | Date/Time |
|----------|--------|-------------|-------------------------------|--|
| 2048 | 256 kB | 1389306217 | Thu, 09 Jan 2014 22:23:37 GMT | |
| 4096 | 512 kB | 1456415081 | Thu, 25 Feb 2016 15:44:41 GMT | |
| 8192 | 1 MB | 1506746729 | Sat, 30 Sep 2017 04:45:29 GMT | |
| 16384 | 2 MB | 1557078377 | Sun, 05 May 2019 17:46:17 GMT | |
| 32768 | 4 MB | 1657741673 | Wed, 13 Jul 2022 19:47:53 GMT | |
| 65536 | 8 MB | 1859068265 | Tue, 28 Nov 2028 23:51:05 GMT | |
| 131072 | 16 MB | 2060394857 | Tue, 17 Apr 2035 03:54:17 GMT | |
| 262144 | 32 MB | 2463048041 | Sun, 19 Jan 2048 12:00:41 GMT | |
| 524288 | 64 MB | 2999918953 | Fri, 23 Jan 2065 06:49:13 GMT | |
| 1048576 | 128 MB | 3536789865 | Wed, 28 Jan 2082 01:37:45 GMT | |
| 2097152 | 256 MB | 5684273513 | Mon, 16 Feb 2150 04:51:53 GMT | |
| 4194304 | 512 MB | 7831757161 | Sat, 07 Mar 2218 08:06:01 GMT | |
| 8388608 | 1 GB | 9979240809 | Thu, 25 Mar 2286 11:20:09 GMT | |
| 16777216 | 2 GB | 16421691753 | Fri, 19 May 2490 21:02:33 GMT | |
| 33554432 | 4 GB | 22864142697 | Sun, 15 Jul 2694 06:44:57 GMT | |

Technical Details:
Algorithm: Scrypt-Adaptive-Nfactor (Not scrypt-jane)
Symbol : VTC
Max Coins: 84 million vertcoins.
Block time: 2.5 minutes
Subsidy halves every 840,000 blocks (~4 years)
Difficulty Re-Target Time: Every block with Kimotos Gravity Well algorithm
Block Rewards: 50 coins per block

Premine - None
There is no premine except three, normal blocks done to test the network (150 coins). You can use the block explorer below to look them up. Unlike many other coins, no one has received a large amount of free coins to dump on an exchange.

http://cryptexplorer.com/chain/VertCoin?hi=49&count=50#

As of yesterday, the price of VTC/BTC was around 0.001 to 0.0015 on coinedup. Today (after being listed on coinmarket.io), it's currently valued around 0.004 to 0.0045, a 300%+ increase, and it won't be long until cryptsy adds it as well, as they already have the wallet / transfer features in place, just not an active market.

This coin actually brings innovation (instead of words) to the table in a sincere attempt to address the increasing issue of mining faced by cryptos today. As the mining ASIC technology advances further, the common folk will be left in the dust to abide by these large entities (much like in the financial system we have today.)

Thoughts on this new approach?

 

Currently, VTC is up another 100% from just yesterday. Coinmarket.io is around 0.01, and Cryptsy is around 0.012 to 0.014.

USD value of each VTC is around $8.50 to $10.

On February 1st, VTC had a market cap around $500,000 while today, it's sitting at over $14,000,000 market cap (ranked 11th just behind some very well established coins)

 

From my perspective it is looking an awful lot like a bubble. You could probably profit decently short term but I don't see the growth sustaining more than this initial discovery period before the bottoms falls out. I could be wrong though, but I could see an early adopter dump happening once it hits a decent price. I might buy a few.