Network Attack on XVG / VERGE

[boxalex]

The supply that is left is going to take around 7 to 10 years to be mined still,

How long will it take if the attack continues and won't get fixed? Theoretically, i doubt this can/should happen.

Plus if you understand how supply/demand works the more coins are in the market supplied by miners the more buyers you need to have in order to keep the price up

This is only one of the factors for price. There are other not less important factors as well ....

now when you have new buyers but no more coins getting in the price will inflate and not  "down like Titanic" because now people are fighting for a limited number of available coins.

Actually not necessary. This eventually would apply for a perfect product/project/item/usecase/patent/you name it. Even more at such high max. supply. I mean there is a difference if you have a currency
with 20.000.000 max supply or 50.000.000.000 for example. The lower the max supply the more true your argument of course would be common sense. But as again, price is not only a simple formular by
max. supply or mining hash rate. There is more involved in a price calculation than thinking that every one holding one of the 16,555,000,000 XVG thinks he will get a unce gold in return for a XVG unit.

Following your logic Ripple would be down the sink already as they have 3 times more coins in circulation than we do.

You miss here that Ripple/XRP has a lot of real partnerships ongoing. I'am not a ripple fan and i think Ripple with such max. supply is overvalued, maybe right now not, but everything over USD 1 for this coin is crazy. But Ripple, if all these partnerships with these banks are real and lasting than they actually have at least a good product that stays behind a given value for its currency, giving it as well some stability, thrust and whatever not the factors for price are. You make a big mistake by thinking real price is the result of 2 factors only, but its not.

And last but not least, XVG is XVG and Ripple is Ripple, i can not see much common things btw. both to compare them anyway.

i think you are missing the all point here, do you know how a price coin is calculated? The market cap is calculated by multiplying the circulating supply of a cryptocurrency by the coin price. It makes absolutely no sense at all saying that once we reach the market cap limit the price will sink. How can a price sink when you are not injecting more coins into the market therefor making the competition for them higher this is comon sense and basic rule of supply/demand. Every single coin in the market will reach this point except the ones that have infinite supply where i don't see how they can survive in the future when they are litereally flooding the market with billions of coins making the price less competitive, they require a constant flow in of money to buy that supply to keep the price up.

i didn't use the word market cap even once as its an indicator, not a factor for price/unit. You think i missed the point but it seems you ever did not read my arguments, didn't think even about them or just copy pasted something out of context. And the last thing i personally would do is talking about coins without max. supply, no idea why you brought even such coins into discussion.

Dude, seriously, i hope you are not affilated in anyway with Verge, because if these are your views on how a given price is generated/maintained/reached/.... than i does not look good for either for our pockets or yours or both pockets :-))))

[1715294105]

1715294105

[1715294105]

1715294105

[1715294105]

1715294105

[boxalex]

So anyone has an updated number on how many coins the attacker has now to dump on the market?

Last i heard is 16 Million XVG.

Must be much higher now.

if i remember right the last digit in mind some 1 or 2 days ago was 35M, no idea with what strength the
attack is going on and in what intervalls, but my guess is at least 50+M so far, could be even more.
Some of the technical experienced and skill members here for sure can do a way more precise calculation.

[vitaminas]

i think you are missing the all point here, do you know how a price coin is calculated? The market cap is calculated by multiplying the circulating supply of a cryptocurrency by the coin price. It makes absolutely no sense at all saying that once we reach the market cap limit the price will sink. How can a price sink when you are not injecting more coins into the market therefor making the competition for them higher this is comon sense and basic rule of supply/demand. Every single coin in the market will reach this point except the ones that have infinite supply where i don't see how they can survive in the future when they are litereally flooding the market with billions of coins making the price less competitive, they require a constant flow in of money to buy that supply to keep the price up.

Oh ok in that case it's ok. The biggest and first - Bitcoin - after so many years is on 16,9 out of max 21 market cap.

But hacked coin without a real DEV is losing millions every day and they reached 15 out of 16,5 market cap, thats no problem. Is that what are you saying?

Thats exactly why bitcoin has that price and verge doesn't, a coin price is directly related to how many coins are available the bigger the market cap the more money you need to put on it to raise the price significantely. Verge opted to have this amount of coins to keep the price low in order to be more easy to use it on a daily basis.

Plus stop talking about the same thing over and over when a hard fork was already announced to correct the bug at block 2042000. and those millions you are talking about are 0.08% of the remaining supply. Also how can you say verge doesn't have a real dev when you don't even know how to calculate a market cap or how to prices are influenced based on total supply. Did your friend in school told you to buy crypto, you should not have stole your moms credit card.

[siege3967]

Lol apparently it was fixed. Yet I found some pretty weirdly mistimed blocks recently. Posting proof of admin saying it's fixed and the blocks. https://ibb.co/ipO5zx
https://ibb.co/fN0URc

[ssvenss]

The attack on VERGE shows that in more cases of vulnerability in new projects is not easy to find, but it is possible and this should encourage developers to work better

[Claudyah]

in the way that the coins are encoded, every mined block must have different algorithms if they are the next block. It seems, now, they are the next block with the same mining algorithm. The problem is, according to the poster, the attacker mines one block every second, for thirteen hours before being discovered. This is because of a bug in XVG code that allows users to mine blocks with spoofed timestamps.

[bisti]

i think you are missing the all point here, do you know how a price coin is calculated? The market cap is calculated by multiplying the circulating supply of a cryptocurrency by the coin price. It makes absolutely no sense at all saying that once we reach the market cap limit the price will sink. How can a price sink when you are not injecting more coins into the market therefor making the competition for them higher this is comon sense and basic rule of supply/demand. Every single coin in the market will reach this point except the ones that have infinite supply where i don't see how they can survive in the future when they are litereally flooding the market with billions of coins making the price less competitive, they require a constant flow in of money to buy that supply to keep the price up.

Oh ok in that case it's ok. The biggest and first - Bitcoin - after so many years is on 16,9 out of max 21 market cap.

But hacked coin without a real DEV is losing millions every day and they reached 15 out of 16,5 market cap, thats no problem. Is that what are you saying?

Thats exactly why bitcoin has that price and verge doesn't, a coin price is directly related to how many coins are available the bigger the market cap the more money you need to put on it to raise the price significantely. Verge opted to have this amount of coins to keep the price low in order to be more easy to use it on a daily basis.

Plus stop talking about the same thing over and over when a hard fork was already announced to correct the bug at block 2042000. and those millions you are talking about are 0.08% of the remaining supply. Also how can you say verge doesn't have a real dev when you don't even know how to calculate a market cap or how to prices are influenced based on total supply. Did your friend in school told you to buy crypto, you should not have stole your moms credit card.

if mom is only argumenr you can pull out on me, you are unlike your mommy wjo is pulling me out every night

[vitaminas]

The supply that is left is going to take around 7 to 10 years to be mined still,

How long will it take if the attack continues and won't get fixed? Theoretically, i doubt this can/should happen.

Plus if you understand how supply/demand works the more coins are in the market supplied by miners the more buyers you need to have in order to keep the price up

This is only one of the factors for price. There are other not less important factors as well ....

now when you have new buyers but no more coins getting in the price will inflate and not  "down like Titanic" because now people are fighting for a limited number of available coins.

Actually not necessary. This eventually would apply for a perfect product/project/item/usecase/patent/you name it. Even more at such high max. supply. I mean there is a difference if you have a currency
with 20.000.000 max supply or 50.000.000.000 for example. The lower the max supply the more true your argument of course would be common sense. But as again, price is not only a simple formular by
max. supply or mining hash rate. There is more involved in a price calculation than thinking that every one holding one of the 16,555,000,000 XVG thinks he will get a unce gold in return for a XVG unit.

Following your logic Ripple would be down the sink already as they have 3 times more coins in circulation than we do.

You miss here that Ripple/XRP has a lot of real partnerships ongoing. I'am not a ripple fan and i think Ripple with such max. supply is overvalued, maybe right now not, but everything over USD 1 for this coin is crazy. But Ripple, if all these partnerships with these banks are real and lasting than they actually have at least a good product that stays behind a given value for its currency, giving it as well some stability, thrust and whatever not the factors for price are. You make a big mistake by thinking real price is the result of 2 factors only, but its not.

And last but not least, XVG is XVG and Ripple is Ripple, i can not see much common things btw. both to compare them anyway.

i think you are missing the all point here, do you know how a price coin is calculated? The market cap is calculated by multiplying the circulating supply of a cryptocurrency by the coin price. It makes absolutely no sense at all saying that once we reach the market cap limit the price will sink. How can a price sink when you are not injecting more coins into the market therefor making the competition for them higher this is comon sense and basic rule of supply/demand. Every single coin in the market will reach this point except the ones that have infinite supply where i don't see how they can survive in the future when they are litereally flooding the market with billions of coins making the price less competitive, they require a constant flow in of money to buy that supply to keep the price up.

i didn't use the word market cap even once as its an indicator, not a factor for price/unit. You think i missed the point but it seems you ever did not read my arguments, didn't think even about them or just copy pasted something out of context. And the last thing i personally would do is talking about coins without max. supply, no idea why you brought even such coins into discussion.

Dude, seriously, i hope you are not affilated in anyway with Verge, because if these are your views on how a given price is generated/maintained/reached/.... than i does not look good for either for our pockets or yours or both pockets :-))))

i never said they were the only ones i was explaining how price is influenced by the current supply. example if verge was at same market cap of BTC with 118b dollars it would put verge at 7 dollars and not 6800 dollars, that's what people seem to not understand and i was trying to explain.

[siege3967]

Something is definitely up. Look at the repeating blocks on the block explorer: https://verge-blockchain.info
So much for fixing it. It's worse.

[vitaminas]

Lol apparently it was fixed. Yet I found some pretty weirdly mistimed blocks recently. Posting proof of admin saying it's fixed and the blocks. https://ibb.co/ipO5zx
https://ibb.co/fN0URc

it was not fixed yet. It will be fixed with fork at block 2042000

[vitaminas]

i think you are missing the all point here, do you know how a price coin is calculated? The market cap is calculated by multiplying the circulating supply of a cryptocurrency by the coin price. It makes absolutely no sense at all saying that once we reach the market cap limit the price will sink. How can a price sink when you are not injecting more coins into the market therefor making the competition for them higher this is comon sense and basic rule of supply/demand. Every single coin in the market will reach this point except the ones that have infinite supply where i don't see how they can survive in the future when they are litereally flooding the market with billions of coins making the price less competitive, they require a constant flow in of money to buy that supply to keep the price up.

Oh ok in that case it's ok. The biggest and first - Bitcoin - after so many years is on 16,9 out of max 21 market cap.

But hacked coin without a real DEV is losing millions every day and they reached 15 out of 16,5 market cap, thats no problem. Is that what are you saying?

Thats exactly why bitcoin has that price and verge doesn't, a coin price is directly related to how many coins are available the bigger the market cap the more money you need to put on it to raise the price significantely. Verge opted to have this amount of coins to keep the price low in order to be more easy to use it on a daily basis.

Plus stop talking about the same thing over and over when a hard fork was already announced to correct the bug at block 2042000. and those millions you are talking about are 0.08% of the remaining supply. Also how can you say verge doesn't have a real dev when you don't even know how to calculate a market cap or how to prices are influenced based on total supply. Did your friend in school told you to buy crypto, you should not have stole your moms credit card.

if mom is only argumenr you can pull out on me, you are unlike your mommy wjo is pulling me out every night

Dam you want more arguments? i just explained you, what are you on about? you are complete ignorant about crypto and you are here pretending you know about it just embaressing yourself.

[siege3967]

Lol apparently it was fixed. Yet I found some pretty weirdly mistimed blocks recently. Posting proof of admin saying it's fixed and the blocks. https://ibb.co/ipO5zx
https://ibb.co/fN0URc

it was not fixed yet. It will be fixed with fork at block 2042000

Did you see the screenshots? Admin claims it's fixed

[bododk]

Something is definitely up. Look at the repeating blocks on the block explorer: https://verge-blockchain.info
So much for fixing it. It's worse.

the block repeats because iquidus explorer list data base on transactions.

but, for example this is not ok:

2040772   3d0200dfe8314f259852764864871ec1b131af51e328ef6882863bbad83199f9   1   1560.28747500   Sat, 07 Apr 2018 13:26:45 GMT
2040771   fa228657629f96569a4bfadb423ac6f3e52802e011053a4198527bbef273b982   1   1560.00000000   Sat, 07 Apr 2018 13:22:59 GMT
2040770   593aeeff30d81659904f7f986cd5893ecdb2cd9c35fbb3852fb9b6b7dacdfc5e   2   113.38684900   Sat, 07 Apr 2018 13:26:01 GMT

if you see block 2040771 has a lower timestamp then 2040770 this mean that the hacker is working hard to make more coins  

** the 'fix' will occur after block 2042000

[bisti]

Lol apparently it was fixed. Yet I found some pretty weirdly mistimed blocks recently. Posting proof of admin saying it's fixed and the blocks. https://ibb.co/ipO5zx
https://ibb.co/fN0URc

it was not fixed yet. It will be fixed with fork at block 2042000

Did you see the screenshots? Admin claims it's fixed

if he claims then ok! they proved they know what they are doing! hahaha

[vitaminas]

Lol apparently it was fixed. Yet I found some pretty weirdly mistimed blocks recently. Posting proof of admin saying it's fixed and the blocks. https://ibb.co/ipO5zx
https://ibb.co/fN0URc

it was not fixed yet. It will be fixed with fork at block 2042000

Did you see the screenshots? Admin claims it's fixed

he is not VergeDev he tough it was but its not also if you look at github you can see the code there for several hours already.

+static const int ALGO_RULES_SWITCH_BLOCK = 2042000;
+static const int SAME_ALGO_MAX_COUNT = 5;

http://prntscr.com/j254xz

[bisti]

seriously, for one reason I am taking hat off to the XVG team. Can you actually belive that this coin is, with everything thats going om, for example only 400 satoshi cheaper than OMG that has bunch of partners and that actually has a deal with 2nd largest bank in China? you gotta love crypto, where incredible happens.

[vitaminas]

seriously, for one reason I am taking hat off to the XVG team. Can you actually belive that this coin is, with everything thats going om, for example only 400 satoshi cheaper than OMG that has bunch of partners and that actually has a deal with 2nd largest bank in China? you gotta love crypto, where incredible happens.

Amazing isn't it? And the more we climb the more we get hated its called jelousy.

[siege3967]

Lol apparently it was fixed. Yet I found some pretty weirdly mistimed blocks recently. Posting proof of admin saying it's fixed and the blocks. https://ibb.co/ipO5zx
https://ibb.co/fN0URc

it was not fixed yet. It will be fixed with fork at block 2042000

Did you see the screenshots? Admin claims it's fixed

he is not VergeDev he tough it was but its not also if you look at github you can see the code there for several hours already.

+static const int ALGO_RULES_SWITCH_BLOCK = 2042000;
+static const int SAME_ALGO_MAX_COUNT = 5;

http://prntscr.com/j254xz

Okay let's just wait till that block. If it even comes... Blocks are getting repeated in the explorer lol. Also you didn't reply to my responses about the dev saying private ledger goes against his ideologies while still blatantly liying to his sheep followers about their being a private ledger. You're an example of that right here

[shifty252]

seriously, for one reason I am taking hat off to the XVG team. Can you actually belive that this coin is, with everything thats going om, for example only 400 satoshi cheaper than OMG that has bunch of partners and that actually has a deal with 2nd largest bank in China? you gotta love crypto, where incredible happens.

Amazing isn't it? And the more we climb the more we get hated its called jelousy.

Reality check fanboys:
XVG - 900 sat
OMG - 137000 sat

but your math says it's only a 400 satoshi difference

I get it that you are shilling to the bone, but man this was way off

[vitaminas]

Lol apparently it was fixed. Yet I found some pretty weirdly mistimed blocks recently. Posting proof of admin saying it's fixed and the blocks. https://ibb.co/ipO5zx
https://ibb.co/fN0URc

it was not fixed yet. It will be fixed with fork at block 2042000

Did you see the screenshots? Admin claims it's fixed

he is not VergeDev he tough it was but its not also if you look at github you can see the code there for several hours already.

+static const int ALGO_RULES_SWITCH_BLOCK = 2042000;
+static const int SAME_ALGO_MAX_COUNT = 5;

http://prntscr.com/j254xz

Okay let's just wait till that block. If it even comes... Blocks are getting repeated in the explorer lol. Also you didn't reply to my responses about the dev saying private ledger goes against his ideologies while still blatantly liying to his sheep followers about their being a private ledger. You're an example of that right here

Stealth transactions work the only thing you see is the amount but you don't know where it goes and where it came from.