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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1349955 times)
MAD945
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July 17, 2014, 06:37:27 AM
 #10301

FYI: To those claiming we made a poor decision to roll back-

Navajocoin rolled back their blockchain BECAUSE someone 51% attacked. Both Bittrex and Bter were attacked, it looks like. Now they will likely be delisted from several exchanges and the coin is inches away from death.

We specifically rolled back to prevent the possibility for a 51% attack by an illicit group. This action likely saved VeriCoin from what would have been imminent death.

Please take some time to read about Navajocoin's predicament. They did it without telling anyone about it. We were as open as we could possibly be. VeriCoin has not been 51% attacked, Navajo was.

LMAO, You're a joke and so is your coin. You cant mess with the blockchain and then think you'll make it to mainstream adoption. Who's going to take a chance and except vericoin when they can chose one of the hundreds that have not broken the first rule of crypto!!! You're radioactive!

Just my $0.2



First rule of crypto? Sorry did I miss an orientation or something? Where's this magical rule book you speak of?

All through out history the winners have all been rule breakers, this is the only way society has evolved for the better!
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CodeHunter
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July 17, 2014, 06:44:02 AM
 #10302


Crypto technology just started, we've yet to understand it fully.

The next few decades will be even more revolutionary and eye opening.

The more you think you know, the less you know.

ALBORCA
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July 17, 2014, 06:48:11 AM
 #10303

chart for vrc/btc on from mintpal on bitcoinwisdom is horrible after someone sold at 0.0011 btc ...can someone contact mintpal to take that transaction out!!? Roll Eyes Huh

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July 17, 2014, 07:13:11 AM
 #10304


ya the sell walls were really thin at that time when they opened.

keshuker
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July 17, 2014, 07:51:37 AM
 #10305

I love the logic in here

It goes something like this:

VRC rolled back to save our money, that means it shows we are a safer coin to invest in, we wont let thieves get away with it. BUY VRC!!

So will VRC rollback every time in the future to protect its investors? No this was the only time they saved the holders money, but BUT BUY VRC!!

ROLLBACK HALLELUJAH !! PNOSKER WE LOVE YOU !!

If you disagree: FUD GTFO

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July 17, 2014, 07:55:51 AM
 #10306

Who's going to take a chance and accept vericoin when they can choose one of the hundreds that would die at the first hack!!! You're radioactive!

Just my $0.000000002



Fixed. Cheesy

Fixed your spelling errors too. Shocked

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
pingdigi
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July 17, 2014, 08:11:15 AM
 #10307

Who's going to take a chance and except vericoin when they can chose one of the hundreds that have not broken the first rule of crypto!!! You're radioactive!

The only rules that cannot be broken are the ones that cannot be broken. You can't create coins without mining them because of cryptography, so that's a rule. But you can rollback the blockchain. You can decide to reissue a wallet that will mine more coins past an arbitrary amount.

If you want your precious "first rule of crypto" to be enforced, show me some code that makes it impossible to do a rollback.
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July 17, 2014, 08:38:39 AM
 #10308

Honestly I cannot understand why people keep answering scum like Bobsurplus, or trying to reason with people like smoothie and their army of alts.

After ignoring them for more than a week this thread has become so much better

It's been less than a week for me and it makes a world of difference browsing the thread.   Though smoothie I have to vouch just has his opinions on how he sees things, while overall he obviously wants Vericoin to fail and basically has said as much, he doesn't do it with shit posts with no content or large meme images.   It's sometimes good to hear other opinions on things imo.

My current ignore list:
SkyValeey
Bobsurplus
keshuker
mrkavasaki
ItsNotMe
CodeHunter

Thanks
kehtolo
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July 17, 2014, 09:19:35 AM
 #10309

chart for vrc/btc on from mintpal on bitcoinwisdom is horrible after someone sold at 0.0011 btc ...can someone contact mintpal to take that transaction out!!? Roll Eyes Huh

not sure if this is a joke or not.. but you can't seriously be serious??

The next 24 hours are critical!
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July 17, 2014, 09:49:56 AM
 #10310

I love the logic in here

It goes something like this:

VRC rolled back to save our money, that means it shows we are a safer coin to invest in, we wont let thieves get away with it. BUY VRC!!

So will VRC rollback every time in the future to protect its investors? No this was the only time they saved the holders money, but BUT BUY VRC!!

ROLLBACK HALLELUJAH !! PNOSKER WE LOVE YOU !!

If you disagree: FUD GTFO



its true.. people are assuming the coin (and exchanges) to be safer and yet the hack has proven that it is far less safe than people had thought.

frankly I am quite shocked at how apathetically Mintpal users have reacted...

when someone survives a heart attack they usually do try take extra precautions to maintain their health.. but that doesn't mean that in any way are they safer. the fact that you had one makes it more likely that you will have another one.

mintpal is the single point of failure for this coin and many others that share the PoS implementation.

KARMA: KSc9oGgGga1TS4PqZNFxNS9LSDjdSgpC1B      VERT: VgKaooA5ZuLLUXTUANJigH9wCPuzBUBv9H
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socal
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July 17, 2014, 10:08:33 AM
 #10311

V.P.S.A

When dealing with "people" like bobsurplus and friends please press the Ignore button beneath their usernames on the left hand side of the screen. It not only prevents you getting infected with their own special brand of stupidity, but it saves the ozone layer, gets stray puppies adopted, and feeds hungry children, not to mention it preserves your sanity and makes this thread a better place. So please, DO IT FOR THE CHILDREN!

This has been a Veri Public Service Announcement, thank you for your cooperation.
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July 17, 2014, 10:17:11 AM
 #10312


<extra quoting removed to save space cause I hate huge ass quote chains>

You presume all merchants like the fact that they can get a chargeback.

Personally as a merchant myself I dont like chargebacks. I honor what I say I will do and accept only cryptos that have a track record that I trust not to do that.

Your definition of "standard" is not necessarily what people would do as oppose to what they are required to work with.

Just like how we in the US do not have a choice but to use Dollars as the currency for most debts private and public and for payment.

Just because it is a "standard" doesn't make it morally right nor does it mean that it is the way things should be.

Ask any merchant if they like having charge backs. I suspect you will find very few that enjoy getting a chargeback especially if they held up their end of the deal and delivered the goods.

In my scenario it would assume I sent goods to another user for payment in VRC...then a huge VRC scam takes place...then a roll back occurs and I do not have my VRC because of the roll back. Now tell me how that would be a fair/standard situation which is what we are really discussing as opposed to your "every day business" scenario? How?

Your argument is pretty flimsy there mate. I know plenty of merchants, business owners of various sizes, and while none of them obviously enjoy it, it is a potential cost of doing business, and they will be the first to tell you that. There are also laws on the books which allow them to mitigate losses suffered in those instances, and I don't think it far fetched to believe that those same laws could/will be extended to cover crypto transactions as it becomes more mainstream. If you as a 'merchant' only accept crypto, then I imagine your actual scope of understanding regarding this topic is at the very best, virtually non-existent.

The bottom line is that there is, and will always be, some chance of fraud when doing business, because we do not live in a perfect world. However people like you are here making the implication that this is not the case, when anyone who has ever owned  business knows it is completely and totally unavoidable.

Even if there was the chance of a potential rollback again in the future (and the odds of that are slim, lets be blunt it is being blown insanely out or proportion for an event that happened once), it still makes a Vericoin transaction statistically far safer by several orders of magnitude than other forms of transactions that they already accept, and like any other crypto, they already stand to save a fair bit in transaction fees by accepting it.

Comparatively speaking, this entire ordeal isn't even a blip on the radar of daily fraudulent activities, yet a handful of people here are treating it as if it were some kind of ultra high risk transaction when we all know it's not. At this point in time, I really have decided that such people are one of three things, intentionally FUDing the coin, completely out of touch with reality, or just plain stupid. I am positive you fall into one of these three categories, now we just need to find out which one...


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Alphi
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July 17, 2014, 10:17:23 AM
 #10313

Who's going to take a chance and except vericoin when they can chose one of the hundreds that have not broken the first rule of crypto!!! You're radioactive!

The only rules that cannot be broken are the ones that cannot be broken. You can't create coins without mining them because of cryptography, so that's a rule. But you can rollback the blockchain. You can decide to reissue a wallet that will mine more coins past an arbitrary amount.

If you want your precious "first rule of crypto" to be enforced, show me some code that makes it impossible to do a rollback.

actually the rule becomes stricter over time.. the more transactions that occur in a given time period the less possible it is to roll back the blockchain for that time period.. this is because it would cause significant financial damage to all those people who had made transactions during that period.

even if you change the code it would still be more difficult over time to get a majority of wallets to adopt the changes.

if you really wanted to you could engineer hardware wallets with storage that could only be written to once (like a CD rom), once you had enough of those devices out in the general public.. it would be physically impossible to roll back the block chain.

I suspect we may see an innovation like this in the future. hardware wallets built into phones that cannot be rolled back.

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July 17, 2014, 10:23:46 AM
 #10314

I suspect we may see an innovation like this in the future. hardware wallets built into phones that cannot be rolled back.
Yep, much innovation to come as a result of Vericoin actions. As stated, they will change the ecosystem.

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July 17, 2014, 10:27:37 AM
 #10315

Even if there was the chance of a potential rollback again in the future (and the odds of that are slim, lets be blunt it is being blown insanely out or proportion for an event that happened once),


a potential roll back isn't really the problem because that is only a temporary disruption to the network.
the bigger issue is not rolling back.

if an exchange gets hacked again and someone manages to buy, borrow or steal enough coins to get them over the 51% of staked coins mark and the devs do not step in to roll back and force them out, then they will be able to fork the coin endlessly.

in other words.. perpetual roll back and double spend... also known in the fiat world as perpetual chargeback.

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July 17, 2014, 10:45:58 AM
 #10316

Even if there was the chance of a potential rollback again in the future (and the odds of that are slim, lets be blunt it is being blown insanely out or proportion for an event that happened once),


a potential roll back isn't really the problem because that is only a temporary disruption to the network.
the bigger issue is not rolling back.

if an exchange gets hacked again and someone manages to buy, borrow or steal enough coins to get them over the 51% of staked coins mark and the devs do not step in to roll back and force them out, then they will be able to fork the coin endlessly.

in other words.. perpetual roll back and double spend... also known in the fiat world as perpetual chargeback.


That's kinda my point. Smoothie is more or less fabricating a 'cause for concern' that isn't really worth anyone's concern.  Wink

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buy4crypto
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July 17, 2014, 11:20:06 AM
 #10317

What's up with the Vericoin Mining Pool? I don't get any payouts and my shares descent  Cry

You get paid out differently in the VRC mining pool.

It pays out over time, rather than right away.

That helps the algo get you better prices, and more VRC for your efforts.

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July 17, 2014, 12:40:07 PM
 #10318

Veri-Bit is a really nice feature. I don't get what all the fuss is about over it. Veri-Bit actually can save you money in some cases.

With current prices, a withdraw at cryptsy is 0.0005 Bitcoin (0.305 USD) cents or 0.0002 Vericoin. (0.000038 USD)

Veri-bit = 1 VRC (0.191 USD) The only limitations to this whole situation is the 1 btc cap on veri-bit for now.


So you can transfer coins to Vericoin wallet from cryptsy, or ANY place that has high bitcoin fees. Earn interest if you stake the network, And you will save your money with none of the inconvenience, or fees associated with transfering them to exchanges to sell, and then back to your bitcoin wallet to be sent out in a merchant transfer. Veri-Bit makes this so easy... Its almost TOO tempting!


Every time I see the veri-bit feature in the wallet I think its subconsciously saying, "hey man, come click on me, lets have a good time"

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July 17, 2014, 12:49:17 PM
 #10319

Maybe the fuds moved to these guys http://coinjoint.info/navajo-suffers-double-spend-attack/

Would be interesting for the admins to line up fud appearances to the threads of the coins that get hacked. If all names were different accounts coming from same IP ha.

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
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July 17, 2014, 01:01:46 PM
 #10320

Maybe the fuds moved to these guys http://coinjoint.info/navajo-suffers-double-spend-attack/

Would be interesting for the admins to line up fud appearances to the threads of the coins that get hacked. If all names were different accounts coming from same IP ha.

These thieves have got away with it for so long, It would't be surprising if they are complacent.

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