Vertcoin as Digital Money: Why I Like it Most for A Future Medium of Exchange
Current Circulation vs. Future Circulation
| Currency | Current Circulation | Total Future Cirulation (Current Price) | Source |
|---|---|---|---|
| USD | $3,657,400,000,000 | Determined by the Federal Reserve | https://fred.stlouisfed.org/series/M1 |
| Bitcoin(BTC) | $190,000,000,000 | $237,188,689,844 | https://coinmarketcap.com/currencies/bitcoin/ |
| Litecoin(LTC) | $10,000,000,000 | $15,303,708,099 | https://coinmarketcap.com/currencies/litecoin/ |
| Dash(DASH) | $6,120,870,738 | $14,763,468,427 | https://coinmarketcap.com/currencies/dash/ |
| Monero(XMR) | $4,883,179,319 | $5,745,768,000 May 31, 2022 | https://coinmarketcap.com/currencies/monero/ |
| Decred (DCR) | $624,869,259 | $1,974,961,736 | https://coinmarketcap.com/currencies/decred/ |
| Vertcoin(VTC) | $195,000,000 | $384,384,328 | https://coinmarketcap.com/currencies/vertcoin/ |
Currency - something (such as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange.
Are any of the above cryptocurrencies currently a practical currency? Absolutely not. I can't go to my favorite restaurant, coffee shop, or gas station and pay in any of the these digital instruments without an intermediary, high fees, or transact in the same time it would take Visa or MasterCard. Though I like most of these coins for various reasons, I will highlight why I believe Vertcoin is the best value currently and other reasons of interest.
Always Consider Future Circulation
It seems that this is often not considered especially among newer members to a community. This is one of the main reasons I see value in Vertcoin is the comparatively low current and future circulation totals of Vertcoin.
Will Be Able to Mine for Many Years
Vertcoin will also be mineable for some time in the foreseeable future. There is also a beta version of a one-click-miner for Vertcoin which could possibly open up mining to many more people that want to experiment in this area but may not feel comfortable with other procedures. For the complete novice, the one-click may not seem accurate but if you follow the instructions from the YouTube video below, you should not have too many problems.
One-Click-Miner
How To Mine Vertcoin With One-Click Miner by MrSotko CryptoCurrency
https://github.com/vertcoin/One-Click-Miner/releases/tag/1.1.7.9
The Lightning Network
This is a project being developed in conjunction with Bitcoin. If the Lightning Network combined with Segregated Witness come into play, speed of transactions and privacy will be amplified drastically. But always remember, we are all buying into a dream. This network of payment channels is only in its infancy and only time will tell if it works. Additionally, a feature of the Lightning Network is Atomic Cross-Chain which could potentially swap Bitcoin or Litecoin for Vertcoin bypassing intermediaries therefore saving on fees. Again, a lot of potentials.
Purchase Vertcoin from Your Bank?
Another wait and see. Vertbase is a company out of Chicago that intends to allow people to buy Vertcoin directly from their bank accounts. Their version of Coinbase for Vertcoin hopefully without high fees. There is currently a waitlist to be an user. If this project gets underway, this could be yet another boon for the community.
We Will Have to Wait to See, but the Future Looks Bright
For the reasons I have mentioned, I really like Vertcoin and the price is right. The community seems strong, committed, and forward thinking. It also seems to more align to the original vision of Satoshi Nakamoto than Bitcoin does today.
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