The Cryptocurrency “Virtacoin” Is One Year

One year in the life of a baby is not such a big deal. Some one year olds may start walking, developing their front incisors, and others may have started developing diction from their mother tongue. However, a year in the life of a cryptocurrency like virtacoin is such a big deal.

In fact, virtacoin is based on the same code as bitcoin which was launched in 2009 and has gained world-wide traction and value. A bitcoin address can accept virtacoins because the addresses are similar, if not the same. It is being speculated that the creators of bitcoins are behind the creation of virtacoin.

Until it became a cryptocurrency, virtacoin was an online payment system called virtapay. It had a centralized administrator and a big dream. In January, 2013, however, a project called “The Satoshi Project” changed the game. With the Satoshi Project, the owners of virtapay started toying with the idea of turning the online payment system into a cryptocurrency. So on 1^st July, 2014 ’virtacoin’ was born. All virtapay balances were converted to virtacoin, shredding off 86% of all virtapay balances. The ownership of the coin was given to the public. Everybody who had virtacoins became joint owners of it. The place of the central administrator was abolished or seems to seems have been.

As a baby, what has viratcoin achieved in its first 365 days? One of the major, initial problems virtacoin had was with the network. It was very slow. It took many days to get the wallet to synchronize. This problem has been resolved. There are more nodes available so it is now easy for people to have their wallets synchronized.

Today, if peradventure one’s computer crushes, the coins are not lost. One could recover the lost virtacoins if a copy of the private key has been copied down somewhere or the wallet (.dat) file was stored outside the computer. With a few simple steps, one could get back his/her coins, every bit of it.

Also as a result of the early problems with wallet synchronization, someone advised that people kept their virtacoins on exchanges. Atomictrade.com became a place to keep virtacoins. Later, an online wallet was introduced http://www.virtacoinwallet.eu

Virtacoin has now been added to many exchanges to be traded in. The first few exchanges were Atomic Trade now known as http://www.banx.io . There are others like http://www.cryptoine.com , http://www.betashareX.com , http://www.ask.com , http://www.bluetrade.com and many others yet to come. At a point, 1VTA traded for $0.17 on some of the exchanges but this has gone down drastically, now to as low as $0.00000200. Aside these online exchanges, there are local agents in many countries called “virtalocal agents”. They sell virtacoins in the respective local currencies. You could go to http://www.virtaxchange.virtacoinmall.com

An automatic convertor between virtacoin and bitcoin has been achieved. One can now activate a BTC/VTA or VTA/BTC on http://www.virtacoinwallet.eu . This feature allows one to send bitcoins using virtacoins or send virtacoins using bitcoins. Also, wherever bitcoin is accepted, virtacoins could be used. This opened a very big door for spending virtacoins. In addition, virtacoins can be cashed at any MasterCard enabled automated teller machine (ATM) all over the world. One can also use it to buy at any Point of Sale Terminal anywhere in the world. The card being used is the Neteller Net+ prepaid MasterCard from http://www.neteller.com (Check http://help.neteller.com/app/answers/detail/a_id/6/kw/physical%20card ) for the list of countries where neteller MasterCard is available.

Virtacoin has a facebook page, a twitter handle and a Google page. The google page is provided by one of the virtacoin ambassadors. It also has a one-stop shop for every question on virtacoin – http://www.virtacurrent.blogspot.com

The best part of the story is that the virtacoin aeroplane is not yet air-borne; it is still taxing on the tarmac. In other words, virtacoin is still cheap. One can buy so much for so little before the price starts shooting up. One U.S. dollar can get between 100,000 to 200,000 virtacoins, depending on where you are buying from. One can get it at the exchanges listed earlier, at http://www.virtacoiwallet.eu or from a virtalocal agent in respective countries. Just Google “virtacoin in your country” and you will find a seller.

If you prefer to get virtacoins for free, just follow these few steps. Go to http://www.virtacoinwallet.eu/r/157 and get an online wallet address. Configure the wallet to receive bitcoins by writing to [email protected] for help. These done, go to http://www.freebitco.in/?=1335230 with your virtacoin address and sign in. You could get 6500 VTAs every day. You could also go to a place like http://moonbit.co.in/?ref=579aa23160fd to do the same thing to get 5500VTAs every Sunday. In roughly one month, you could amass up to 200,000VTAs. Multiply 1vta by $1.00 and you are $200, 000.00 rich.

There are other things on the “to do” list for virtacoin though. A mobile wallet is one feature the virtacoin community needs and it is in the pipe line. The developers are hoping to make it work on every phone. They also want to make it access the desk top wallet through the internet using the mobile wallet. It is hoped that the developers would achieve what they have set out to do.

More nodes are also needed. Currently, there are very few virtacoin nodes. Compared to bitcoins, the nodes available for the virtacoin community is woefully inadequate. The nodes are needed to help with synchronization issues.

A major issue is value addition. Currently, one virtacoin is selling for $0.00000200. About 11.3billion virtacoins have been mined and are in circulation, most of it being held by private owners waiting for the value to increase. Some are being traded on the exchanges. Scarcity shall definitely drive the price up.

It is also expected that bitcoin and virtacoin will integrate at a point. Some believe that when that happens, one virtacoin may be equivalent to one bitcoin but other more conservative people are pegging it at 1 virtacoin for $0.50 or $1.00 when integration takes place. Virtalocal Project Coordinator and one of the leading members in the virtacoin ecosystem, who simply wants to called Prince, is pegging 1 BTC at 1000 VTA or 100VTA at 0.1 BTC (1 VTA = 0.001 BTC) because of the mathematics behind the money supply of both bitcoin and virtacoin.

All said and done, the virtacoin community wishes everybody in the world a happy anniversary. They are all poised for better days to come where more than one billion people of this world will be using virtacoin in all their transaction, walking hand in hand with its root brother, bitcoin.