Network Attack on XVG / VERGE

[bododk]

did u people forget about chaincoin ? (http://storeofvalueblog.com/posts/timeline-of-the-chaincoin-scam/)

i'm starting to believe that, every year must have an epic p&d

[Crypto-Mango]

same old game every time - believer vs unbeliever.
It goes up, thats the fact!
*edit: ... and up and up ...

[bododk]

same old game every time - believer vs unbeliever.
It goes up, thats the fact!

true, but what is go up it's also go down
advice: don't expect for mass adoption if everybody fuck everybody 

[Crypto-Mango]

same old game every time - believer vs unbeliever.
It goes up, thats the fact!

true, but what is go up it's also go down
advice: don't expect for mass adoption if everybody fuck everybody 

And when its down again, whats the only possible direction? UP! 
And thats, what we have seen at BTC. So many unbeliever, and now so many rich and happy guys!

[bododk]

same old game every time - believer vs unbeliever.
It goes up, thats the fact!

true, but what is go up it's also go down
advice: don't expect for mass adoption if everybody fuck everybody 

And when its down again, whats the only possible direction? UP! 
And thats, what we have seen at BTC. So many unbeliever, and now so many rich and happy guys!

#make_a_mortgage_buy_XVG

[rogerthat55]

1. Big news for Verge coming out
2. Inside job hack going as planned
3. Ocminer points out hack
4. Verge devs like, "We fixed it. Nothing to see here."
5.
6. PROFIT!!!

[ocminer]

Well from what I see at least they now followed my advice and integrated the mentioned MAX_BLOCKS_PER_ALGO commit from myriad:

https://github.com/vergecurrency/VERGE/commit/80c81aef63272231fc39c2af4b8db9f3f2e9d328

This should fix at least the issue to "takeover" the chain by abusing one algo.. If it actually works.

However of course there's still damage done, the abusers funds are mined and in the chain, that guy is pretty rich now I guess

[Deff]

Will carry out the attack by two algorithms, the attack uses two wallets

[CHIEF56]

Also Congratulations to the Hacker - you've chosen the right coin for your hack (which was invented in 2014 btw:)) - don't buy too many Lambos with your > 20M Verge... so what.. About 1 Million $ now ?

Anyone following the movements of the insta-mined coin? Looks like they are currently being off-loaded by the millions onto Binance.

Not sure why no one in the community or elsewhere seems to care this is happening.

[siege3967]

Well from what I see at least they now followed my advice and integrated the mentioned MAX_BLOCKS_PER_ALGO commit from myriad:

https://github.com/vergecurrency/VERGE/commit/80c81aef63272231fc39c2af4b8db9f3f2e9d328

This should fix at least the issue to "takeover" the chain by abusing one algo.. If it actually works.

However of course there's still damage done, the abusers funds are mined and in the chain, that guy is pretty rich now I guess
[/quote

Can the exploiter not just use a certain algo for 4 blocks to circumvent this?

[Benezim]

so they saying they will have a partnership with a german bank and they will have debit cards.

I can't wait for the next fuck up now......

I don't think a bank would work with 'anonymous' coins... no way.. my guess is porn code = porn hub  

https://twitter.com/tokenpay/status/982945018750042112

#TokenPay CEO @derekcapo meeting in Munich earlier today for breakfast with key stakeholders of the German bank. A deal in principle has been agreed upon by all parties. We will provide full details at closing, but can say that $TPAY and $XVG debit cards are likely coming soon.


All i can say is this is going to be entertaining.....

Interesting. Actually, the left guy at the breakfast table indeed could be the chief of the Deutsche Bank Board (Paul Achleitner). The right guy on the breakfast table ... no idea.
Another curiousity is that today Deutsche Bank got a new CEO, a 48 year old german. This could speek indeed for a total change of course as its another generation guy than the
old guard.

However, there are 3 possible options in my opinion.

1.) Its all about hype, media, with an unsuccessfull real meeting or finalization of such deal which is exposted to the max for advertising and hype, with no deal at the end.

2.) Just a double scam from beginning with TokenPay and Verge.

3.) Real deal with Deutsche Bank. Actually it would make a lot of sense. In my opinion the first bank that gets involved in crypto will have a HUGE advantage over all other banks.
Strategically views, i wondered all the time why most banks block crypto. Of course many are afraid of, but a smart bank would use all the tech and evolution to get ahead of many
others. Not even talking about a popularity increase of the bank that will partner first with a Crypto Currency. Actually thinking more about it, it would be some indirect regulation
as well as, for example the german government, can regulate Deutsche Bank, which of course can than regulate a given Crypto Currency, no matter if Verge or another partner.

Just and in case 3.) is true we all will benefit from it. Seriously, it would be the mega deal for Verge, but for many other Cryptocurrencies as well and the whole of course. Non German
members should not undervalue Deutsche Bank, its the 15th biggest bank in the world, but with branches in nearly all countries.

Here some readings about the CEO Change and his views, which, at least how i read it, could be indeed a change of the Deutsche Bank banking as it was.

https://global.handelsblatt.com/finance/christian-sewing-former-deutsche-bank-intern-makes-good-runs-bank-908596  (in English)

http://www.bbc.com/news/business-43688742
could this be a hint? "The supervisory board is convinced that he and his team will be able to successfully lead Deutsche Bank into a new era. We trust in the great ability of this bank and its many talents."

Now the big question is if the announced deal is exactly this deal. If yes, there is no place for jealousy as all crypto (the legit ones with a real project at least) will profit from it short and long term.
If its not the deal or even a scam than .... just another example for the crypto ballon many will say.....

Come on, you don’t really think that Deutsche Bank gets in bed with a coin that gets more publicity on incidents than on reputable code recently?

Deutsche Bank, really? Do you have any idea of the vetting standards these companies have?

And why would they meet in Munich? Where again is Deutsche Bank (and most other German banks) headquartered?

If it‘s a German Bank and they meet in Munich, it might be BayernLB or DAB BNP Paribas. Or a small ass bank. If there is meat on the bone at all.

[bododk]

there is no BANK .. read @vitaminas post

[CHIEF56]

Deutsche Bank, really? Do you have any idea of the vetting standards these companies have?

Well, in all fairness, they are pretty much the only bank that will lend to Donald Trump - and for billions of dollars. Make of that what you will..

[ruinous]

Verge is up, but I still wont mine or buy it. So shady, suspect and fraudulent. How do you allow an exploit that has occurred to other coins in the past?

[bododk]

Verge is up, but I still wont mine or buy it. So shady, suspect and fraudulent. How do you allow an exploit that has occurred to other coins in the past?

by ignorance and lack of programming knowledge regarding blockchain technology

[Slemicek]

Deutsche Bank, really? Do you have any idea of the vetting standards these companies have?

Well, in all fairness, they are pretty much the only bank that will lend to Donald Trump - and for billions of dollars. Make of that what you will..

Deutsche Bank? Partnership with some shady project for 3millions $? You guys must be on drugs to even write it publicly  😂 make it 3 billions and MAYBE they will talk to you at one desk.

[retlaw04]

These are really strange happenings. I think that we will soon have a media-effective appearance. How dangerous and criminal cryptocurrencies are.

[boxalex]

so they saying they will have a partnership with a german bank and they will have debit cards.

I can't wait for the next fuck up now......

I don't think a bank would work with 'anonymous' coins... no way.. my guess is porn code = porn hub  

https://twitter.com/tokenpay/status/982945018750042112

#TokenPay CEO @derekcapo meeting in Munich earlier today for breakfast with key stakeholders of the German bank. A deal in principle has been agreed upon by all parties. We will provide full details at closing, but can say that $TPAY and $XVG debit cards are likely coming soon.


All i can say is this is going to be entertaining.....

Interesting. Actually, the left guy at the breakfast table indeed could be the chief of the Deutsche Bank Board (Paul Achleitner). The right guy on the breakfast table ... no idea.
Another curiousity is that today Deutsche Bank got a new CEO, a 48 year old german. This could speek indeed for a total change of course as its another generation guy than the
old guard.

However, there are 3 possible options in my opinion.

1.) Its all about hype, media, with an unsuccessfull real meeting or finalization of such deal which is exposted to the max for advertising and hype, with no deal at the end.

2.) Just a double scam from beginning with TokenPay and Verge.

3.) Real deal with Deutsche Bank. Actually it would make a lot of sense. In my opinion the first bank that gets involved in crypto will have a HUGE advantage over all other banks.
Strategically views, i wondered all the time why most banks block crypto. Of course many are afraid of, but a smart bank would use all the tech and evolution to get ahead of many
others. Not even talking about a popularity increase of the bank that will partner first with a Crypto Currency. Actually thinking more about it, it would be some indirect regulation
as well as, for example the german government, can regulate Deutsche Bank, which of course can than regulate a given Crypto Currency, no matter if Verge or another partner.

Just and in case 3.) is true we all will benefit from it. Seriously, it would be the mega deal for Verge, but for many other Cryptocurrencies as well and the whole of course. Non German
members should not undervalue Deutsche Bank, its the 15th biggest bank in the world, but with branches in nearly all countries.

Here some readings about the CEO Change and his views, which, at least how i read it, could be indeed a change of the Deutsche Bank banking as it was.

https://global.handelsblatt.com/finance/christian-sewing-former-deutsche-bank-intern-makes-good-runs-bank-908596  (in English)

http://www.bbc.com/news/business-43688742
could this be a hint? "The supervisory board is convinced that he and his team will be able to successfully lead Deutsche Bank into a new era. We trust in the great ability of this bank and its many talents."

Now the big question is if the announced deal is exactly this deal. If yes, there is no place for jealousy as all crypto (the legit ones with a real project at least) will profit from it short and long term.
If its not the deal or even a scam than .... just another example for the crypto ballon many will say.....

Come on, you don’t really think that Deutsche Bank gets in bed with a coin that gets more publicity on incidents than on reputable code recently?

Deutsche Bank, really? Do you have any idea of the vetting standards these companies have?

And why would they meet in Munich? Where again is Deutsche Bank (and most other German banks) headquartered?

If it‘s a German Bank and they meet in Munich, it might be BayernLB or DAB BNP Paribas. Or a small ass bank. If there is meat on the bone at all.

Actually i do not think, but than again, life teached me ..... you never know until something happen.

While i agreethat Verge is technically not the best choice to partner with, it has a huge fan base, obviously and in all fairness, its a 4 or more year old coin.

I'am well aware of the standards of banks, howerver. Just in case, or better in princip, soon or late a given bank will choose to partner with a given coin. A new younger new CEO like the one now, with 48 years, as old as me, might have a total different approach on the future of the bank. Do not forget, Deutsche Bank has no win the last 3 years.

And yes, i'am well aware as a German where banks are located, in Frankfurt. But that does not mean a meeting can not be held in Munich as well.

Look, i'am more or less only speculating of a pic with the Verge guys and a picture made in Munich. And that man in the photo just looks like the Deutsche Bank Board Boss. I'am far away from saying "THIS is the deal", just making some theories and possibilities. Actually, it could be even a Banks Sister firm or affilated firm actually be that joins a given deal, must not be necessary a given Bank itself.

Seriously, i do not know what to think. On one side such deal might help the whole crypto world and would give it some boost of legacy. On the other hand, it would be too good to be true. And than, we all know too good, scams happen all the time. And last but not least it could be an absolute different deal or partnership, from ebay/amazon up to a little store in a little town (just to make some hype). Everything is possible.

As you see i'am trying to write about objective without being a fan boy, but trying to see all possible outcomes.

One thing i learned over time is, never underestimate someone you think has no skill, is stupid, is useless, ... You never know with what surprise someone can come up. This could apply to Verge as well. It's a cheap underdog trying to mess with the big ones. Normally underdogs have a big popularity, do not forget this. However, whatever we think, we will soon know better, maybe. I personally have a feeling that on the "partner release day" will get moved to a later date too use even more hype, but thats just a feeling.

As most of us live in a democratic country everybody is of course free to make his own opinion :-)

[boxalex]

Deutsche Bank, really? Do you have any idea of the vetting standards these companies have?

Well, in all fairness, they are pretty much the only bank that will lend to Donald Trump - and for billions of dollars. Make of that what you will..

Deutsche Bank? Partnership with some shady project for 3millions $? You guys must be on drugs to even write it publicly  😂 make it 3 billions and MAYBE they will talk to you at one desk.

Not sure how you make your math, but current market cap is 1.2 Billion. In case the price gets as high as 20 cents you would have 3 billions.  Every 0.01 cent the verge price rises the market
cap goes up about 165M by the way.

[Crypto-Mango]

If its a bank of munich, it could be the Fidor Bank. I think its the most used Bank for germans to buy cryptos. They have a partnership with bitcoin.de and (im not sure) also with kraken, and we all know - Germany = Money!