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So what happened to Vertcoin

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So what happened to Vertcoin

My last post on the history of this page in my research I found a crap ton of people recommending Vertcoin through the years. Eventually this stopped around 2017 or 2018. https://old.reddit.com/r/CryptoCurrency/comments/uchy35/so_i_looked_in_the_past_on_this_sub_and_this_is/

But I honestly never heard of this coin and wonder how a coin that is so highly recommended could have a chart like this

https://preview.redd.it/meu5oxpenzv81.png?1146&format=png&auto=webp&s=0fcb6e69b727982636e3ea7d2dc3e2c4b3fe38ba

So... what is Vertcoin?

Vertcoin was made around 2014 time. The coin is actually still around today, and it was made as an alternative to mining BTC with a GPU. As far as I can tell, that is the hill it died on.

Keep in mind back when it came out GPU mining wasn't really a thing and mining in general was a nightmare to setup. Vertcoin made one of the first easy one click solutions to allow for an almost plug and play experience when mining.

You can still mine it, but note most exchanges do not take it. This means swapping it or going to your average offramp might be impossible or near impossible.

Is it dead?

Again, no. There is people still today that mine it and trade it. But the amount is extremely low, and the reason for this can be summed up to being

  1. You can make more money mining many other coins
  2. You might have a hard/impossible time using the coin in a swap or trading it for fiat.

Basically it died down a good bit as ETH replaced it in the mining field, and with ETH extra abilities (basically being the backbone of most of Web3 right now). Plus you can trade ETH virtually everywhere. The focus switched from Vertcoin to ETH.

Can it come back?

This isn't financial or trade advice.

I honestly think they can come back. See the thing is

https://preview.redd.it/zmk449ogqzv81.png?584&format=png&auto=webp&s=a8841818809fb93dead6642fb242d6b6c85ebd96

The gap does seem a bit, but note the price from the first chart I showed. The fact is, if there was a good push this gap in my opinion could be overcome easily. Note Vertcoin's market cap is $19m right now while ETH is $343B.

This means if Vertcoin a little over double's it's price then it could in theory match ETH in how much you can make from it.

Now, in my opinion for this to be overcome Vertcoin will need to be on many major exchanges. Because you have to pay your way to get on them, I honestly don't see this happening. Note what it is on now

https://preview.redd.it/ex93yu8vrzv81.png?611&format=png&auto=webp&s=a9ca335f4e7a4045f679b9aa556c22fc7182a31d

https://www.coinlore.com/coin/vertcoin/exchanges (note it trades against BTC or USDT)

But lets just say for kicks it does happen. I think the only thing that would be holding it back is marketing and people talking about it. But IMO this will come as mining it becomes profitable.

With all that saying, my personal opinion is this isn't worth mining as long as you can mine ETH and RVN. I mean if it was on exchanges you use and trust, then it might be worth at least mining to have some x amount. But I don't see a realistic chance for this coin to come back

Personally, I'm going to keep my eye on this just enough to see how it changes over time. But without real changes to be on more exchanges I don't know if I will ever hold it. I do hope I'm wrong and in the future this does take off.

submitted by /u/crua9
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