[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released

[chunkyjunkie]

The devs on the hangout couldn't have explained it better.

VRC will come out of this a lot stronger then it was before.

Basically there was one vulnerability in vrc that had nothing to do with vrc and it hit.  Not due to vrc itself but solely to do with a 3rd party and bad habits of crypto users and how they store coins.

Again, going forward, vrc will come out stronger with greater support from people who hadn't previously heard of vrc and never would have.  In a seedy crypto world vrc is probably the one success story for the small investors that have been constantly beaten up over and over.

This hack was probably one of the best things to happen to vrc and at a perfect time. Had this happened when vrc was more mature it would have been a lot more damaging. The few bad habits of the crypto community and exchanges will be a lot better in the future and we already are seeing that with the amount of coins staking!  I also highly doubt mintpal will ever keep a irresponsible amount of coins in any hot wallet again.  Better yet in regards to vrc, with the amount of coins staking in personal wallets, the community is saying we will not give an exchange the chance to.

Vericoin investors have become so careful now since the incident. And because of that, no other alt coin is as safely away from these exchanges, and therefore as decentralized in containment.

Because of this incident, Vericoin has become stronger than before. The typical ironies of the crypto world.

Exactly my point.  Ironic like you said.

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[chunkyjunkie]

I bet you don't care. Most of you don't care. Most people here only care about profits and the coin they baghold.

I have to admit, after all the blackcoin bagholders trolling this thread, I now hate blackcoin, which is a coin I didn't care about before. If blackcoin loses more value than it already has, I would be okay with that. Whereas before I would not.

I'm a blackcoiner too, but I hate this Coin VS Coin fights... (yeah, except about some scamcoins)

No need to hate a coin, just hate the BS-posters...

Sadly, I agree with the above. I never really cared about bc before.  Owned it a couple of times, the dev I think has some skills also.  But going forward I will never look at bc again from the way the community attacks other coins because of a lack of confidence in bc.  Just like in real life the person who is confident doesn't say much.  The person who is on edge and has no real conviction will be talking a mile a minute to anyone who listens and lashing out at everything.

[Subtuppel]

Funny.
So some of you guys say VRC is looking good to new investors since the roll back incident showed/shows how/that VRC will "actively protect" their money, but also will never do a roll back again?
You can't have both, and if you would not cry "FUD" as soon as someone hasn't his head up pnoskers arse you would probably see that as well.

[buy4crypto]

I had VRC on mintpal, but I would rather have lost 8 MILLION, FAILED to get MP to reimburse me than having a rollback that goes against everything in crypto

 

Don't mind him, look at his sig, he's one of those blackcoin aspies.

So I was not allowed to own VRC too? Or have an opinion?

Your opinion has worked out well for bitcoin so far. 8 billion dolllar market cap in 4 years. With how potent this technology is, it could be in the TRILLIONS by now if civilized people would accept it.

The fact of the matter is theft is uncivilized. Theft is what took bitcoin off most civilized peoples investment radar. In the coming months and years more civilized investors will come to a choice. Do I invest in Bitcoin / every other crypto and (allow theft) Or do I invest in vericoin (protects theft)

This simple differentiating factor will be what brings VeriCoin to the top of the "alt" scene, and then past BITCOIN in my opinion. Because lets face it, those people championing bitcoin, are not the same people who have the ability to bring this mainstream.

You tell me what civilized people would say.

So are you saying that VRC will protect me again from theft and rollback the blockchain if needed?

They said NO, NEVER. You are missing this point. Its the public perception. Those people who have been on the sidelines, and that will now come into crypto viewing vericoin as a safe investment, one that will protect money. As upposed to the headline of gox that made most people think bitcoin was unsafe.

 Think about the headlines of GOX. Now, think about the headlines of MP, and not from your view, from a random joes view. They dont care about centralization, most have never heard what it is, They see the big picture, THEFT IS PREVENTED. Where as typical protocol before this event, and to some community still is to let thieves go in the name of decentralization? These people hold bitcoin back from practical uses.

+1

Meanwhile banksters literally get away with Murder, Terrorist & Murderous Drug Lord Money Laundering,
Fomenting War on a Global Scale and collapsing the entire World Economy while raping and pillaging
entire Countries and peoples wealth.
Stolen peoples money from their accounts in CYPRUS and now have Negative Interest Rates.

It might be good to keep things into perspective.

The Hard Fork was CC's Extremely Effective Community Effort to Provide an FDIC type Insurance
AND there will be Innovations to come...

The innovation through this will be the biggest step forward in crypto. One thing is certain, people are debating it regardless of view. What will come from this IMO? A call to action for innovation. And through all the innovation, there will be many viewpoints along the way.

Crypto is great, but it can be so much more. If we get out of the "box" that EVERYTHING has to be decentralized to have a working system, well that is not true. There is a reason centralized things work, and a reason why decentralized things work. If we approach this through a sensible viewpoint that, taking benefits of both could strengthen the system, rather than it having to be a black and white issue.

It does not have to be 100% centralized, or decentralized, to go overboard on either limits the practical uses one may have. Bitcoin tested the boundaries of what decentralized could be. We have seen the value and troubles placed upon this technology. Which, to be honest, for as many innovating features, still has its flaws.

To think we cannot break the mold and find a better way is not the spirit that satoshi had when he created bitcoin. He created it with all intentions of making better financial systems. Polar opposites of each other. Now is the time in crypto to bring the 2 strengths together and create something greater than the sum of its parts.

[BitcoinPorn]

I had VRC on mintpal, but I would rather have lost 8 MILLION, FAILED to get MP to reimburse me than having a rollback that goes against everything in crypto

 

Please go to https://bitcointalk.org/index.php?action=profile;u=349771;sa=ignprefs and add these names to your list -

Bobsurplus
keshuker
ItsNotMe

[_theone]

what has happened to all the products that was paid for using vrc and for which the transactions were part of the reversed blockchain?

[btminer8]

So are you saying that VRC will protect me again from theft and rollback the blockchain if needed?

Short answer no.

This is the first time when a PoS coin is in risk of a 51% attack from thief.

This is an very important lesson for crypto and specifically to PoS coins.

It could happen to any PoS coins. Instead of attacking vericoin, i think it is more important to focus on the real problem.

I expect exchanges and it's users to be more vigilance after this incident.

We learn from the problem. We evolve. This is why we have decentralised exchange like BitHalo from the blackcoin developers will reduce the risk of a large scale thief.

Educate people, not attacking people. This isn't a very friendly environment an investor would like to put their money in.

Stop digging your/our own grave.

It is your own stupidity if you allow that to happen again.

[buy4crypto]

what has happened to all the products that was paid for using vrc and for which the transactions were part of the reversed blockchain?

$4,000 was processed in the hours following the hack, mintpal states in this circumstance they will pay any lost coins

[_theone]

what has happened to all the products that was paid for using vrc and for which the transactions were part of the reversed blockchain?

$4,000 was processed in the hours following the hack, that is covered by mintpal in this circumstance

yes, but i am talking merchants, not exchanges. so mintpal covers any loss for merchants??

edit: good that the hack was detected quickly then.

cannot imagine what would happen if they need to reverse more then 10k blocks.

[cryptodevil]

what has happened to all the products that was paid for using vrc and for which the transactions were part of the reversed blockchain?

I doubt there were that many and Mintpal said that if anyone could show they had lost out then they'd compensate them.

[buy4crypto]

what has happened to all the products that was paid for using vrc and for which the transactions were part of the reversed blockchain?

$4,000 was processed in the hours following the hack, that is covered by mintpal in this circumstance

yes, but i am talking merchants, not exchanges.

Mintpal should start a freaking PR campaign saying how stupid they are and how innovative the VRC team was to create such a solution.

Remember mintpal didn't suggest 1 thing to the VRC team. VRC devs acted in the way they did for 1 reason only, to save the community. and indirectly, I think this will move all of crypto forward in some way as we debate the merits, and outcome of this event.

[ofp]

Funny.
So some of you guys say VRC is looking good to new investors since the roll back incident showed/shows how/that VRC will "actively protect" their money, but also will never do a roll back again?
You can't have both, and if you would not cry "FUD" as soon as someone hasn't his head up pnoskers arse you would probably see that as well.

It's a matter of mindset, the very DNA of the community. Given the incident, it's legitimate to believe that people who don't support the rollback (probably because they value less moral judgements) will walk away while people who support it will gather around.

At the end, this event will be determinant to the way this community thinks and acts and this will attract the right kind of people. As simple as that!

[knightlife999]

VRC devs keep coming through for the community. Great job guys! VRC is an excellent product and the devs set the standard for other coins to follow.

This coin should easily surpass 100k in the near future.

[_theone]

lets just hope it doesnt happen again.

[CodeHunter]

yes, but i am talking merchants, not exchanges. so mintpal covers any loss for merchants??

edit: good that the hack was detected quickly then.

cannot imagine what would happen if they need to reverse more then 10k blocks.

Before doing the roll-back, Nosker made sure to call all 4 VRC merchants to ask if any products were sold during the 12 hours. And all 4 of them said no.

(said from the VRC hangout video on youtube which aired yesterday night eastern time)

[buy4crypto]

yes, but i am talking merchants, not exchanges. so mintpal covers any loss for merchants??

edit: good that the hack was detected quickly then.

cannot imagine what would happen if they need to reverse more then 10k blocks.

Before doing the roll-back, Nosker made sure to call all 4 VRC merchants to ask if any products were sold during the 12 hours. And all 4 of them said no.

also, worth noting no veri-bit was sent out either due to the fast response and shutting down of that service. All in all, it went very well, aside from having to remake the fork due to a issue with wallets still accepting old network immediately following the attack. Once more people where aware, and able to switch, VRC was able to get on the proper fork and secure the network.

[buy4crypto]

And remember through all of this, there could have been a technical issue, this or that. A lot of the copy / paste clones would have been toast if it was there coin. This is a good warning for those playing pump and dumps behind anon devs to think hard about there investment security.

Same goes for coins with anon devs. Talk about accountability. If the anon features work, your coin can be hijacked and you not even know it, how secure is THAT?  

The fact of the matter is, VRC was tasked with not only a difficult choice, but they had to execute a extremely precise plan in a short time period with the skills they had. And I have to say, for all intensive purposes that they knocked it out of the park.

[defier]

what has happened to all the products that was paid for using vrc and for which the transactions were part of the reversed blockchain?

I'm going to assume you, didn't, watch/listen to the dev cast.  They contacted the vendors that accept VRC and none of that $4000 in transactions, was for purchased items.

I'm personally thrilled the thieves didn't succeed.  If the community completely rejects vrc after this fine.  Let it burn to the ground and my few coins with it.  So long as the crooks didn't get a single satoshi.  
Or in this case  Veritoshi. (phrase coined here)

[ScottAllyn]

I need some clarification on something please......  In my wallet, I have two addresses total.  The first address (VGiycsx1phY9ekeMNbzCHpY2TtXAzNGd4C) had just over 28k coins in it.  Second address (VRzsNTFi2bitgQ5fu96tB1ihFrfAxtJPox) had only 3.44 coins in it. So, I tried to transfer the 3.44 coins from (VRzsNTFi2bitgQ5fu96tB1ihFrfAxtJPox) to (VGiycsx1phY9ekeMNbzCHpY2TtXAzNGd4C) so all my coins would be under one address.  What happened though is what I don't quite understand.  Fyi, I'm using Chainz to track this. Looks like the 3.44 coins stayed in the same address, but 1096 coins went to (VF9S9seoip7jvZfeDbj5P1kyNAiUG89bvd) which is an address that I don't have in my wallet. My balance, from within the wallet, isn't showing that I'm missing 1096 coins but Chainz is showing them in the new address (VF9S9seoip7jvZfeDbj5P1kyNAiUG89bvd).  Why did this happen and did these 1096 coins just go somewhere they can't be retrieved?  This fork thing has made me want to dig a little deeper into understanding all of this.  Any explanation would be greatly appreciated.

It looks to me like you ended up sending the 3.44287294 coins from the VGiy address and not VRzs address, so they just ended up right back where they started. In the process, part of the VGiy balance was split off into a "change" address (which is completely normal).

If you enable coin control features in the wallet, enter the coin control section and expand the VGiy address, you'll probably see those 1,096.72382148 coins assigned to that (change) address.

[_theone]

correct me if i am wrong, but this is how you do it?

- sync chain up until block of reverse ( add a if nheight>N exit 0 in code )
- cutoff connections
- make a small private network with two nodes
- then mine a block/posgenerate a block / just say block @N with hash is incorrect in code.
- if block (pos-)mined, add a checkpoint to that block in code
- shutdown all nodes
- update all nodes, let them sync from private network or copy chain with it
- push update out, let clients resync or provide a bootstrap.dat

or am i missing something?