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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1342922 times)
sdmathis
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July 24, 2014, 05:19:05 PM
 #11361


Oh and pretending this debacle in price is caused by the rollback is just idiocy, plain and simple. Of which you are a pathetic exponent.

I agree. If the current price drop had anything to do with the rollback, it would have happened a week ago.

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July 24, 2014, 05:22:35 PM
 #11362

Facts:

1) Price fluctuations happen for every altcoin. There is nothing to panic about. In fact if you go back, Vericoin originally went up close to 0.003, then dropped to 0.001 for a while, before the recent up-trend to 0.005 began. Once again, normal price fluctuations.

2) Vericoin has one of the best Dev teams in the cryptoworld, and they are still communicating regularly with their users.

3) 90% of altcoins die within a month, either because they are a scam, or the devs don't care. Vericoin is still here and shows no signs of disappearing.

4) The devs have shown their faces and actually done things in the real world, not just sitting behind a computer. Once again, this proves they are not scamming anyone and actually want the coin to succeed.

5) There are no negative news to cause the downtrend.

6) The rollback after the Mintpal hack saved the coin. I can't fathom why so many people in here actually argue that the hackers should have gotten away with millions of stolen dollars...

7) The same few users keep posting FUD and trolling this thread. They are either newbie accounts with sub 100 posts, or the same people like phzi and bobsurplus. They do not represent the coin's actual community and certainly do not represent the majority.

All we have to decide is what to do with the time that is given us - Gandalf
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July 24, 2014, 05:22:47 PM
 #11363

LOL @ the 15k 5 btc sell wall. The whales are manipulating the price for cheap vrc. Then the next thing that happens is big buys, people buy back in again.. The whales already sold around 45/46k and the stupid ones push the prices back down for the whales to buy again! lol well i just bought more!

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July 24, 2014, 05:24:45 PM
 #11364

I think the most important and encouraging in the VeriCoin operation is that the devs are still interested in the project and working on adding new features. The price goes up and down, right now is down, but the hard work and the release of usable features will take care of the price increase. This is a legit dev team, as PNosker said they are real people building a real money. This transparency is a very unique attribute in the scam driven alt coin market.

Right now people are upset, but 50-100% price swing happens all the time even with real business operation. In the place Russia where I have been dealing/trading/funding IT, telecom and software companies I had experienced with a few 3000% price drop in the last 25 years, there were dead bodies all over the offices, so this is a very calm environment compared to that one, here is even the crypto-history maker scummer pumper WizRig is alive, so nothing dramatic happened here. Price drops are part of the business, even bitcoin has gone through several swing. Again, the hard work from the devs will take care of the price and the future of the coin still very bright.

Which is very encouraging to me that it seems the Devs are finally working on what really matters, the decentralized app feature. No one cares about VeriBit (why would anyone want it when we can pay with bitcoin, no wonder there is only 6 VeriBit users worldwide), the FIAT feature could be useful for a few people but nothing is innovative nor exciting in the FIAT feature, but a decentralized market place or exchange could be a game changer. Please focus on that and try to roll out at least a basic app that implements decentralized features. As you know there are incredible capable and smart people working on decentralized apps, Ethereum, Skycoin, even ViaCoin with the Counterparty inegration, etc., so the competition is fierce, that's why would be important that the Devs try to release at least a very basic but working decentralized app as soon as it is possible. As you know better than I do you compete with very smart guys like Dr. Wood from Ethereum http://www.gavwood.com/Paper.pdf , but if you have something that works (even if it is a very basic app) you can be the winner in this race.

There are many people like myself who invested a lot into VeriCoin, we are not overly worry about short term price changes and willing to invest lot more if things are going in the right direction. Please implement the decentralized feature and I guaranty you many more investment will come not from pumpers but from real investors.



That is a terrible mistake for nothing can lose more than 100%. That's tops.

You would understand that reading your post after that would be a waste of time, wouldn't you?
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July 24, 2014, 05:27:26 PM
 #11365


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July 24, 2014, 05:30:43 PM
 #11366

BTC Had a rollback in 2010 and look at it now, please people do not listen to the FUD Bobsurplus is spewing all over the forum. If you have concerns please post on Veritalk.info and get real anwsers if you would like to continue watching the FUD entertainment then please stay, I think I heard somewhere that FUD is sometimes good for a coin.. any thoughts ?
This is such bullshit...  You cannot compare the hard-fork that bitcoin devs and miners initiated to fix a PROTOCOL FLAW back in 2010 with VeriCoin dev's decision to bail out an exchange.

God...  some people are just so ignorant it's sad.   It's not FUD if it's true - it's a warning.

The community that fought for their coin and fought against the theft of $2 million dollars worth of investors money.

Hmmmm.....
You mean the community that was stupid enough to have 30% of a coin on one exchange? 
Rather than MintPal pay everyone back, they leaned on the devs to rollback the chain.  It is disgraceful that the devs even considered it - period.

They didn't do it to bail out an exchange. That was a symptom of the rollback, designed to save the coin from certain death. 7.5mill staking at time of attack vs 8 million stolen. Coin is dead if they don't roll back. There is an argument to "let it die then" on philosophical grounds, but they made the only decision possible for a coin with a $6million economy at the time.

So if you and your friends want to "spread the truth about vericoin" or whatever reason you choose to believe to validate you posting here every 2 minutes - spread the one I've just explained to you.

He is not interested in the truth. It doesn't serve his agenda at all.
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July 24, 2014, 05:44:56 PM
 #11367

so tell me.. is this coin being dumped into oblivion? is still there hope for this coin? honest question

Just read the last few pages. Dev's are still here working hard and promoting the coin.  I don't know why it's dumping, but I've been buying all the way down.  I have a small 25k buy wall on Bittrex right now @ 15008 if anyone wants to join me to shore up Bittrex a little bit.

ill join you

Crap, we're taking heavy fire.  Half by wall just got blasted.  Anybody else join us?  Need reinforcements!

yep.

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July 24, 2014, 05:46:03 PM
 #11368

There are hard-forks, forks, and blockchain rollbacks (essentially, large blockchain re-organizations).

Hard-forks are performed because there is a bug in the software that needs fixing - a fault in the software itself.
Bitcoin has had a few emergency hard-forks; 2 to be exact.  These are positive changes - they show that the developers and community are on top of things, and capable of fixing the protocol or protocol implementation when necessary.

Forks are when there are two competing blockchains - this is usually a bad thing.  Simple forks are often caused when there are protocol version conflicts, and the longer chain stops getting accepted by a set of nodes, who then branch into their own chain.  Forks are almost always a bad thing.

Blockchain rollbacks and re-orgs happen when someone 51% attacks the network, or for the first time with VRC, when devs decide to force a revert to a previous checkpoint.  Blockchain re-organizations (rollbacks) are VERY BAD.  They show that the network has NO orphan security, and that you very simply should not trust your money on that blockchain.



A fork is not a fork.  Anyone that says that has no idea what they are talking about, and you probably shouldn't believe anything else they claim to know.



Nothing I'm saying is untrue, nor attacking a specific coin.  I would make these statements about any blockchain that was re-organized like VRC was.

It's not FUD if it's true - it's sharing knowledge.  
FUD has become the most ridiculously overused buzz word in this thread.  And it's being used to discredit people who's points cannot otherwise be disproven.  So, please, keep shouting FUD at me... it's obvious you're the only one spreading bullshit when you do so.

After reading your explanation of the fork vs hard fork vs block chain roll back, I recalled the early days of vericoin.
In the first day of mining, at around 1500 blocks, there was a fork (pow stage of vericoin was a fork heaven), the developer used a hard fork to hardfork the block chain to a early block before the fork happens.

I lost about somewhere between 10000 and 12000 coins in that hard fork (I was in the hero pool, the long and main block chain, and the 0feepool was on shorter chain, and in the first day, diff was very very low). At that time, I didn't think much about the hard fork (or we can now call it a rollback). After reading this explanation, that hard fork is just a mistake and should never be done. What the developers should have done is to find the long block chain, and use that right block chain to ask miners go to miner on that chain, rather than rolling it back.

Those forks happened multiple times and i remember it was rolled back multiple times. I was always mining in the hero pool and also lost some coins during those rollbacks.

Now I think it back, the rollback after mintpal hack is not alone(it has been done multiple times before), it has shown the incompetence of the developers, looks like they don't know what they were doing and just do what they want to do, rather than following the right thing in the community.

I don't want to FUD, but I am trying to say the fact. You guys can look at my post history and tell.

Nobody care to reply to my post, except one guy sees what i said as FUD
Anybody want to comment on it?

If you're saying that there was a rollback earlier in VeriCoin's history, sorry dude. Never happened. What did happen was that there were a number of forks (as happens to many young coins with heavy mining action) and some people were mining on the wrong fork. This caused them to THINK that they lost money, but they never really had the money in the first place because they were on the wrong fork. There was no early rollback however.

Thanks for your reply and your rudeness (at least it seems to me) to an honest claim the community manager. Are you sure about what you claim? I will do a recompile with the proof of what i claim and then get back to you, it may take a day or two.
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July 24, 2014, 05:47:45 PM
 #11369

Google Hangout Tomorrow 9PM EST to discuss the conference and what is to come!
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July 24, 2014, 05:51:32 PM
 #11370

There are hard-forks, forks, and blockchain rollbacks (essentially, large blockchain re-organizations).

Hard-forks are performed because there is a bug in the software that needs fixing - a fault in the software itself.
Bitcoin has had a few emergency hard-forks; 2 to be exact.  These are positive changes - they show that the developers and community are on top of things, and capable of fixing the protocol or protocol implementation when necessary.

Forks are when there are two competing blockchains - this is usually a bad thing.  Simple forks are often caused when there are protocol version conflicts, and the longer chain stops getting accepted by a set of nodes, who then branch into their own chain.  Forks are almost always a bad thing.

Blockchain rollbacks and re-orgs happen when someone 51% attacks the network, or for the first time with VRC, when devs decide to force a revert to a previous checkpoint.  Blockchain re-organizations (rollbacks) are VERY BAD.  They show that the network has NO orphan security, and that you very simply should not trust your money on that blockchain.



A fork is not a fork.  Anyone that says that has no idea what they are talking about, and you probably shouldn't believe anything else they claim to know.



Nothing I'm saying is untrue, nor attacking a specific coin.  I would make these statements about any blockchain that was re-organized like VRC was.

It's not FUD if it's true - it's sharing knowledge.  
FUD has become the most ridiculously overused buzz word in this thread.  And it's being used to discredit people who's points cannot otherwise be disproven.  So, please, keep shouting FUD at me... it's obvious you're the only one spreading bullshit when you do so.

After reading your explanation of the fork vs hard fork vs block chain roll back, I recalled the early days of vericoin.
In the first day of mining, at around 1500 blocks, there was a fork (pow stage of vericoin was a fork heaven), the developer used a hard fork to hardfork the block chain to a early block before the fork happens.

I lost about somewhere between 10000 and 12000 coins in that hard fork (I was in the hero pool, the long and main block chain, and the 0feepool was on shorter chain, and in the first day, diff was very very low). At that time, I didn't think much about the hard fork (or we can now call it a rollback). After reading this explanation, that hard fork is just a mistake and should never be done. What the developers should have done is to find the long block chain, and use that right block chain to ask miners go to miner on that chain, rather than rolling it back.

Those forks happened multiple times and i remember it was rolled back multiple times. I was always mining in the hero pool and also lost some coins during those rollbacks.

Now I think it back, the rollback after mintpal hack is not alone(it has been done multiple times before), it has shown the incompetence of the developers, looks like they don't know what they were doing and just do what they want to do, rather than following the right thing in the community.

I don't want to FUD, but I am trying to say the fact. You guys can look at my post history and tell.

Nobody care to reply to my post, except one guy sees what i said as FUD
Anybody want to comment on it?

If you're saying that there was a rollback earlier in VeriCoin's history, sorry dude. Never happened. What did happen was that there were a number of forks (as happens to many young coins with heavy mining action) and some people were mining on the wrong fork. This caused them to THINK that they lost money, but they never really had the money in the first place because they were on the wrong fork. There was no early rollback however.

Thanks for your reply and your rudeness (at least it seems to me) to an honest claim the community manager. Are you sure about what you claim? I will do a recompile with the proof of what i claim and then get back to you, it may take a day or two.

We didn't fork backwards, the network just chose the furthest along fork. That's normal when forks occur. It's called a block reorganization. It's happened countless times to BTC/LTC/etc.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
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July 24, 2014, 05:54:35 PM
 #11371

Putting things in perspective, I am going to disagree with Douglas: This kind of panic selling has NEVER happened before in VRC. Sorry but I have been here since the get go and no, not of these dimensions. This is A TOTAL PANIC SELLING DUMP. I'd say ALL traders (by ALL I mean the hugely vast majority) are or have already dumped VRC. Not only them, all the small investors and, of course, all nthe weak hands. It is, in fact, safe to say that most if not ALL of the VRC outside of the 10 million that are staking -as per your count, Douglas-, have been not just sold but probably sold, in panic, a few times in many cases. The proportions of the dump are epic.

That said, we must have reaching the bottom because there should be no more people willing to sell at any moment. This is the community that support VRC, on their own. No outside traders, no outside investors, no groups, no whales. Just like at the beginning or VRC, only enormously more solid. Bottom price will be what will be, but that will be the REAL value of VRC as supported by it's stakeholders.

This gives -should give- the dev a premium opportunity to really stop the presses and evaluate. With perspective. And stop listening to the single requests that have poured here through the panic dump. There's no "saving the coin". The coin is saved. By those 10 million VRC staking and the community that owns them (plus the few million more still on the exchanges but that will not be sold at these prices or below no matter what). That community has given your their full support, especially bin the rollback decision. That community wants you to keep setting higher standards. That community supports regulation -which is coming and is inevitable-. That community doesn't support, regardless of the petitions, a shadow market (decentralized) that serves only interests outside the law. And that community supports every and all efforts to make sure that thieves will not benefit from attacking VRC no matter what, no mattter in one or 100 rollbacks are necessary. The so-called integrity of the block chain is Bullshit. The integrity that you have to defend, because your stake holders demand so, is the integrity of the coin: That the investors are protected and that the vendors are protected. That's the only integrity that counts to the stakeholders and to the future vendors and customers that will adopt Vericoin.

So I invite you to pause, evaluate and take advantage -and a strong forward, proactive position- of the new circumstances and SET THE PATH to follow, whether the other people in crypto like it or not. Your obligation is not to Lee, not to anyone in particular. Your obligation is to those stakeholders thata keep 10 million VRC staking. They have spoken loud and clear to you. You need ton listen to them and act in consequence.
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July 24, 2014, 05:57:50 PM
 #11372

Google Hangout Tomorrow 9PM EST to discuss the conference and what is to come!

Please no more "At the end of the day"?

And, whoever is "moderating", can we make the whole thing a bit more dynamic, like it's ok to interrupt answer that go waaaay too long. Collect your thoughts BEFORE answering and do not LINGER. If you left something out, come back to it, briefly, specifically, later on your next turn but don't linger on.

Oh and William has "taken over" radio? Really?

Wow.
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July 24, 2014, 06:00:23 PM
 #11373

so tell me.. is this coin being dumped into oblivion? is still there hope for this coin? honest question

Just read the last few pages. Dev's are still here working hard and promoting the coin.  I don't know why it's dumping, but I've been buying all the way down.  I have a small 25k buy wall on Bittrex right now @ 15008 if anyone wants to join me to shore up Bittrex a little bit.

ill join you

Crap, we're taking heavy fire.  Half by wall just got blasted.  Anybody else join us?  Need reinforcements!

yep.

good call libertynow.. hahaha.. this is getting fun.. i got your six while i increasing my vrc! just a change of perspective...
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July 24, 2014, 06:07:22 PM
 #11374

These bounces will, logically, be sold off. Be aware and be ready or, better yet, don't pay any attention to them. Just daytrading going on.
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July 24, 2014, 06:07:48 PM
 #11375

Putting things in perspective, I am going to disagree with Douglas: This kind of panic selling has NEVER happened before in VRC. Sorry but I have been here since the get go and no, not of these dimensions. This is A TOTAL PANIC SELLING DUMP. I'd say ALL traders (by ALL I mean the hugely vast majority) are or have already dumped VRC. Not only them, all the small investors and, of course, all nthe weak hands. It is, in fact, safe to say that most if not ALL of the VRC outside of the 10 million that are staking -as per your count, Douglas-, have been not just sold but probably sold, in panic, a few times in many cases. The proportions of the dump are epic.

That said, we must have reaching the bottom because there should be no more people willing to sell at any moment. This is the community that support VRC, on their own. No outside traders, no outside investors, no groups, no whales. Just like at the beginning or VRC, only enormously more solid. Bottom price will be what will be, but that will be the REAL value of VRC as supported by it's stakeholders.

This gives -should give- the dev a premium opportunity to really stop the presses and evaluate. With perspective. And stop listening to the single requests that have poured here through the panic dump. There's no "saving the coin". The coin is saved. By those 10 million VRC staking and the community that owns them (plus the few million more still on the exchanges but that will not be sold at these prices or below no matter what). That community has given your their full support, especially bin the rollback decision. That community wants you to keep setting higher standards. That community supports regulation -which is coming and is inevitable-. That community doesn't support, regardless of the petitions, a shadow market (decentralized) that serves only interests outside the law. And that community supports every and all efforts to make sure that thieves will not benefit from attacking VRC no matter what, no mattter in one or 100 rollbacks are necessary. The so-called integrity of the block chain is Bullshit. The integrity that you have to defend, because your stake holders demand so, is the integrity of the coin: That the investors are protected and that the vendors are protected. That's the only integrity that counts to the stakeholders and to the future vendors and customers that will adopt Vericoin.

So I invite you to pause, evaluate and take advantage -and a strong forward, proactive position- of the new circumstances and SET THE PATH to follow, whether the other people in crypto like it or not. Your obligation is not to Lee, not to anyone in particular. Your obligation is to those stakeholders thata keep 10 million VRC staking. They have spoken loud and clear to you. You need ton listen to them and act in consequence.

I agree with most of your comments here, and I appreciate your thoughtful contemplation.  This is more extreme than before but something nearly all coins have seen, one time or another.  I also agree this is a ownership reset, and we will be much more poised for strength in the long run!  Remember this is still the early stages...
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July 24, 2014, 06:12:17 PM
 #11376

Is that it panic over? Smiley

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July 24, 2014, 06:23:32 PM
 #11377

Putting things in perspective, I am going to disagree with Douglas: This kind of panic selling has NEVER happened before in VRC. Sorry but I have been here since the get go and no, not of these dimensions. This is A TOTAL PANIC SELLING DUMP. I'd say ALL traders (by ALL I mean the hugely vast majority) are or have already dumped VRC. Not only them, all the small investors and, of course, all nthe weak hands. It is, in fact, safe to say that most if not ALL of the VRC outside of the 10 million that are staking -as per your count, Douglas-, have been not just sold but probably sold, in panic, a few times in many cases. The proportions of the dump are epic.

That said, we must have reaching the bottom because there should be no more people willing to sell at any moment. This is the community that support VRC, on their own. No outside traders, no outside investors, no groups, no whales. Just like at the beginning or VRC, only enormously more solid. Bottom price will be what will be, but that will be the REAL value of VRC as supported by it's stakeholders.

This gives -should give- the dev a premium opportunity to really stop the presses and evaluate. With perspective. And stop listening to the single requests that have poured here through the panic dump. There's no "saving the coin". The coin is saved. By those 10 million VRC staking and the community that owns them (plus the few million more still on the exchanges but that will not be sold at these prices or below no matter what). That community has given your their full support, especially bin the rollback decision. That community wants you to keep setting higher standards. That community supports regulation -which is coming and is inevitable-. That community doesn't support, regardless of the petitions, a shadow market (decentralized) that serves only interests outside the law. And that community supports every and all efforts to make sure that thieves will not benefit from attacking VRC no matter what, no mattter in one or 100 rollbacks are necessary. The so-called integrity of the block chain is Bullshit. The integrity that you have to defend, because your stake holders demand so, is the integrity of the coin: That the investors are protected and that the vendors are protected. That's the only integrity that counts to the stakeholders and to the future vendors and customers that will adopt Vericoin.

So I invite you to pause, evaluate and take advantage -and a strong forward, proactive position- of the new circumstances and SET THE PATH to follow, whether the other people in crypto like it or not. Your obligation is not to Lee, not to anyone in particular. Your obligation is to those stakeholders thata keep 10 million VRC staking. They have spoken loud and clear to you. You need ton listen to them and act in consequence.

I agree with most of your comments here, and I appreciate your thoughtful contemplation.  This is more extreme than before but something nearly all coins have seen, one time or another.  I also agree this is a ownership reset, and we will be much more poised for strength in the long run!  Remember this is still the early stages...

Precisely. Early stages. Forward looking is imperative. Rushing features just because the current market supports those features is meaningless in the long term. VISION, long term forward vision, is what VRC needs. And stick to it regardless of the market and the prices. That is NOT, not caring about the investors, or the price, that would be not letting the markets and the prices interfere in the progress of the coin towards its ultimate objectives, those that the stakeholders support, not what a few cry about now because they want a 200% increase in price to dump their coins. We already were at more than 200% above current price. And meant nothing. The clear path is toward the mass adoption through the standard already established: Honesty, transparency, integrity. In the dev team and in the coin. And not so-called "integrity of the blockchain" but integrity of the coin towards the VISION of the devs supported by the stakeholders and towards guaranteeing, at whatever measures may be required, that both vendors and investors are protected. Every coin WILL be forced, by law, to guarantee that. VRC is and should remain then pioneer in implementing it by will, not forced by law.

Remember: The people that temporarily own 10 million coins don't care about where VRC is going, they only care about selling those for a profit as quickly as possible. That is not only not bad, it is actually very good, because they create liquidity, interest = MARKET. But the ones that will remain, regardless of what the market does, are the 10 million that are staking and the other 6 million that remain in exchanges hoping/expecting for longer term profits. Those are your SUPPORT and your STRENGTH. You must stay the course that they support and no other.
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July 24, 2014, 06:23:47 PM
 #11378

Fucking Coinbase and their damn near week waits to get coin into my account, I want to scoop up so much more VRC right now, just waiting waiting waiting.

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July 24, 2014, 06:34:36 PM
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Fucking Coinbase and their damn near week waits to get coin into my account, I want to scoop up so much more VRC right now, just waiting waiting waiting.

I feel ya!! haha I told myself I wouldn't buy more but god dang these prices are just too good to pass up - waiting, waiting, waiting....
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July 24, 2014, 06:37:07 PM
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Never in my life have I run across more people who think STEALING & THIEVES should be rewarded. Some of you people make me so sick, its no wonder a hand full of you do nothing but troll coin forums constantly, society doesn't accept you.
WOW thats harsh im sure you will get a backlash of responses now so be prepared just incase lol


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