Title.

Or you could go with the simplest explanation and simply believe the email that dev sent out saying it's over. That email was sent 15 hours ago? Wouldn't the dev have registered on here to clear things up if he was 'hacked' by now? How do you explain Sunny the PPC dev saying the TRC dev spoke to him about this before the email was sent out?

I suspect btc-e.com is waiting for a second announcement. What we have now is a grace period for anyone who is reading to sell off their holdings before this news spreads. In fact maybe the TRC dev is offloading his hoarded TRC as we speak before he makes the second announcement or offers more news?

I think it's a 5% chance you are right.

that was me chatting to you. However if my account was compromised, thats what I would tell you anyway. My passwords are very long and secure.

To be honest I think the rabbit hole goes no deeper then some kid with an ASIC decided to f*ck up our hard work.

thank you


I believe you as well.


You are right about only part of this. You are right that it does not reveal private keys. However the terrawallet is only one TRC dameon, meaning the wallet software can send from any address. Balances are not organised by private key, they are organised by a database. However there is only one way communication between the TRC daemon and the wallet software- when you receive 100 coins it credits the database under your name with 100 coins. If those coins were received while being on a fork, and then it is updated and those 100 coins disappear (because they were sent durring the fork, which the new chain does not recognise) - the wallet software does not acknowledge this. It only knows 100 coins came in and keeps your balance at 100 coins. Then on the new chain, you withdraw 100 coins, and the wallet software withdraws it from the wallet- but it takes the coins from all the address or any address at random on the wallet. So now the whole wallet is short 100 coins, because your balance says one thing, but the blockchain say something different. And this is why I'm screwed and why a fork screws everyone up so badly.

Look at your client- you can generate multiple addresses in your client to receive funds on- you can use this to track where you receive coins from. However when you SEND coins- your client takes the coins from ANY ADDRESS in your wallet. This is why you can not play Satoshi dice with Instwallet or Vircurex or BTC-E. You will send them 1 BTC from your 'wallet' but really BTC, Instawallet or Vircurex will send the coin from any address they control. So when satoshi dice returns your winnings they will return it to the address that they received from- and it probably will not be your address.  

EDIT: The terrawallet has a special code for TRC dice which means you can play the dice games. It basically works by sending two payments, one telling the dice game where to specially send the winnings, and not just to the sending address.


No one can- but this applies only if you OWN your address and your private key. With the terrawallet, or other instawallets, you don't own your address or your private key. The wallet does, and it sends coins as it wishes. If you owned your private key, I could never charge fees for transactions (for example) because how would I force you to pay me without your private key? Instead when you use the terrawallet, and you say "I want to send 100 TRC" really what happens is the wallet sends 99TRC from some address or group of addresses, and keeps 1trc for itself.
 

I agree.


Actually no, I don't think this is clearly out there. There are thousands of people on BTC-E trading, but it's obvious there are not thousands of people on this thread because otherwise this thread would look like the troll box. People at BTC-E are just seeing the charts and thinking "oh it's getting really cheap!" they have no idea whats happening because they don't bother to research what they are even investing into. They just think they are getting a good deal when really they are getting screwed.


I could be being manipulated, but I doubt it. One look at the blockchain tells you a major problem is going on. Three (or four) mandatory updates in a row? I was big into TRC because of the security it was supposed to have because of it's closeness to BTC. Obviously the security weakness is perhaps the dev, rather then the code.

I did not make any announcement as far as I am aware of. My conversation about TRC on the forum recently is basically just responding to you or complaining about the current TRC situation.


Thank you. I hope my credibility hasn't taken too much of a hit. I'm still here and open sourcing the wallet will be a great contribution to the community building on earlier work. I don't think all is lost (although maybe TRC is a lost cause).


If I may mention one last thing, I don't know the dev, nor the source of his emails. I also don't know why he would have sent this email, or if some sort of SPAM, FUD is going on. I think you or someone else mentioned that perhaps his account has been hacked. I do not know this to be true, but I also do not know this to be false.

EDIT: I just checked github and indeed all the issues have been deleted. I am now putting the bottom paragraph in bold.

Open source software is so important because it's open source and everyone can check the code to be sure that it is clean. However there have been a lot of mandatory updates recently in quite succession, and I don't know if anyone has taken the time to really look over the code very carefully. I would like to point out IF and ONLY IF his account at github was truly hacked as i think you (or someone else) suggests in this thread. Then I would suggest people look VERY CAREFULLY at the new mandatory updates before installing them on their systems. The number one sticky post at the top of the alt-currency thread is from Gavin telling us to "be safe" about installing other clients. Open source means nothing if no one is bothering to check (or doesn't have time to check) the code to be sure there is no malware inside.

Everything proudhon has said will come true given a long enough time frame.

I do not have an ASIC. I had a preorder for a BFL, but (smartest move I ever made) I never paid for it. I have 3x 6950's. They are mining litecoin now.

You know Jubalix, this is exactly what I was trying to avoid- getting dragged through the mud for no reason. I've sent you your coins on BTC-E we should be settled. I also explained to you why you can't use the block explorer to check your balance on an instawallet and other users have supported me on this yet you don't seem to either believe me or accept it. Use google to search the forum and you will find this has been discussed many times before wtih the BTC instawallets.

The wallet had the clearest disclaimer in the world that it was beta and you were on your own. Terracoin is broken, it is forked and I had nothing to do with that. I'm quitting the wallet because it's service providers like myself who get screwed with the coin has problems like this. Now some guy will crazy hash power is mining the f*ck out of the chain, probably only to sell them to people on the exchange who are unaware. Thats why the price is going down, because people are getting dumped on.

Look at the block explorer: http://www.cryptocoinexplorer.com:3750/chain/Terracoin?count=1920&hi=104199

At some points this guy is mining 20 coins PER SECOND. Of course the price is going down, he's dumping the F*ck out of everyone who doesn't know whats going on.

This address that you see a "largeish balance" on is not mine, nor was it used to "CLEAR" the wallet service. It is unfair of you to say such a thing without clearly stating you have no evidence it's mine. You're creating a conspiracy theory when I have treated you justly and fairly.

I am not the dev, and I think people can pretty clearly figure that out. If I were the dev I would "approve" my comments to the mailing list such as this one:
---
to terracoin-users, terracoin-users, terracoin-anno.
This is great to hear- although do we need more time for testing in testnet? If its not working right now, I think users can wait a little longer for a solid fix. It would not be good if there are any additional problems, just to be sure it works.
That said- great job and thanks!
Sent from my iPhone
---

but it was never approved and there was no waiting to test it better and we're screwed.

I'm getting out of TRC because I see the writing on the wall. I'm selling the terrawallet and open sourceing the core code because I made it for the community. And I paid a good programmer a almost huge sum of BTC to make it. So I'm out a crap load of money over this, I've settled your debt with me, and here you are- minutes later trying to drag me into a mud fest.

People said Terracoin was broken and I believe in the community to be able to fix it, if there were things that need to be fixed. Turns out some members of the community are hell bent on destroying it and there seems like nothing can be done.

So what do you want from me? I gave you your coins, I even had to take your word on it- for all I know you're the one screwing me over with the wallet. You are the only person who has written me to complain about missing coins. I can't even prove you didn't take advantage of the fork to double spend your own coins. But I trusted you, gave you your coins, and I want to be done with it. So leave me out of any conspiracy theories. The ship is sinking and if knew what was good for your wallet- you'd jump ship pronto.

The next time BTC gets to $200+ the market should reset to centiBTC (cBTC) where each trading unit is $2+.


When cBTC gets to $20+ the market should again reset to milliBTC (mBTC) where each trading unit is $2+.

When mBTC gets to $20+ the market should again reset to decamilliBTC (dBTC) where each trading unit is $2+.

When dBTC gets to $20+ the market should again reset to hundredmilliBTC (hBTC) where each trading unit is $2+.

When hBTC gets to $20+ the market should again reset to millionthBTC (uBTC) where each trading unit is $2+.

And so on, so that in a few years billionthBTC (bBTC) would be the unit of trade and curency.

No wealth or value is ever lost. The trading unit thereby stays within people's currency comfort zone for conducting commerce.


BTC value is in its ability as a currency. A $266 BTC is unwieldly for most people. The total number of coins is fixed. To accomodate new users and continued fluidity as a currency reset or splitting seems important.

I doubt that matters. What matters is if there is a need for it. Do an appreciable number of people really need to anonymously spend (large amounts of) money, and/or really need to cure themselves of exposure to fiat?

Time will tell.

From what I understand- the chain is being attacked by someone who, most likely, just doesn't give a crap and likes to mess other peoples work up.

There are already now multiple Terracoin fork chains in existence, and it's quite possible that the chain has already been rewritten by the attacker who at times has had far more then 51% of the hash rate of the chain. Most likely the attacker is just either rewriting the chain, or plundering the chain by generating crazy numbers of block to make TRC to sell for BTC at the exchanges. We are being screwed.

There is another mandatory update out, which I would like to think will fix the problem, but at this point, we've been through a number of mandatory updates and the problem just gets worse.

Miners did start to mine again though, and pretty heavy.  I know of atleast 30Gh/s that was pointed at the coin.  I have atleast 6Gh/s.  I think the email in this thread is garbage and fake.  I think the post yesterday was just out of frustration.  He probably slept on it, and got back to work.  That's my best guess, especially since he released a new version just a little while ago. 

He did say yesterday that he id not going to play cat and mouse game with attacker for long but today he was full positive and looked ready for fight, and looked like he believed it's possible to do it.

I am not sure what's happening but he might quit it based on his words from yesterday. He said basically - if miners don't mine, attacker will win.

Shame, it became third strongest coin on exchanges just before problems started.

Make a post like wmikrut just made showing your getmininginfo. 

I make a deposit on BTC-E and they don’t accredit my TRC to my account, I make a complaint and I’m waiting for his response.

I just did a test.  Transferred a TRC from one of my rigs to the other.  It worked perfectly.  Chain is completely updated.  Not sure what your problem is jubalix.