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

[Coinler]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

vericoin may have chosen to use a 3rd party. but doesnt that mean "not impossible"?

anyway it's past my bedtime/movietime so im off for now.

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[socal]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

why didn't you take the money and run? lol j/k

[Coinler]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

why didn't you take the money and run? lol j/k

hhahah that joke ive heard so many times by basically everyone that's been in one of these rooms lol

[Monkeys]

also I was saying the regulatory/licensing portion is impossible without massive fiat reserves, not the coding portion

The original scope of the implementation requiring FINCen licensing is not feasible at this stage I agree.

There are however, other ways to provide VRC in exchange for FIAT within the wallet without using Moolah or any other exchange directly.

If you could accept credit card payments within the wallet, VRC could be purchased from a 'fund' (Verifund perhaps?) at a close approximation of the current exchange rate minus a small processing fee, and the FIAT from the credit transaction could then be used to later purchase more VRC from an exchange to keep the fund 'topped up'.

Now I'm not an expert in finance or law by any means, but I don't believe that this would require FINCen licensing like Cryptsy has.

[socal]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

why didn't you take the money and run? lol j/k

hhahah that joke ive heard so many times by basically everyone that's been in one of these rooms lol

lol ya wouldn't get far I assume, but hey glad you are here with us

[socal]

also I was saying the regulatory/licensing portion is impossible without massive fiat reserves, not the coding portion

The original scope of the implementation requiring FINCen licensing is not feasible at this stage I agree.

There are however, other ways to provide VRC in exchange for FIAT within the wallet without using Moolah or any other exchange directly.

If you could accept credit card payments within the wallet, VRC could be purchased from a 'fund' (Verifund perhaps?) at a close approximation of the current exchange rate minus a small processing fee, and the FIAT from the credit transaction could then be used to later purchase more VRC from an exchange to keep the fund 'topped up'.

Now I'm not an expert in finance or law by any means, but I don't believe that this would require FINCen licensing like Cryptsy has.

hmmmm im not sure im not a lawyer but if this is feasible then perhaps its worth taking a look at but yes chargebacks would be a major concern

[Monkeys]

also I was saying the regulatory/licensing portion is impossible without massive fiat reserves, not the coding portion

The original scope of the implementation requiring FINCen licensing is not feasible at this stage I agree.

There are however, other ways to provide VRC in exchange for FIAT within the wallet without using Moolah or any other exchange directly.

If you could accept credit card payments within the wallet, VRC could be purchased from a 'fund' (Verifund perhaps?) at a close approximation of the current exchange rate minus a small processing fee, and the FIAT from the credit transaction could then be used to later purchase more VRC from an exchange to keep the fund 'topped up'.

Now I'm not an expert in finance or law by any means, but I don't believe that this would require FINCen licensing like Cryptsy has.

hmmmm im not sure im not a lawyer but if this is feasible then perhaps its worth taking a look at but yes chargebacks would be a major concern

They would be, and without verification it would almost certainly result in a lot of chargebacks which you would not be able to win. With verification however, disputing the chargeback claim would be a piece of cake.

[socal]

also I was saying the regulatory/licensing portion is impossible without massive fiat reserves, not the coding portion

The original scope of the implementation requiring FINCen licensing is not feasible at this stage I agree.

There are however, other ways to provide VRC in exchange for FIAT within the wallet without using Moolah or any other exchange directly.

If you could accept credit card payments within the wallet, VRC could be purchased from a 'fund' (Verifund perhaps?) at a close approximation of the current exchange rate minus a small processing fee, and the FIAT from the credit transaction could then be used to later purchase more VRC from an exchange to keep the fund 'topped up'.

Now I'm not an expert in finance or law by any means, but I don't believe that this would require FINCen licensing like Cryptsy has.

hmmmm im not sure im not a lawyer but if this is feasible then perhaps its worth taking a look at but yes chargebacks would be a major concern

They would be, and without verification it would almost certainly result in a lot of chargebacks which you would not be able to win. With verification however, disputing the chargeback claim would be a piece of cake.

further incentive for VERIfication then? you only get Fiat/wallet Credit/debit card purchasing enabled if you get VERIfied? that could work but the implementation of such is beyond me I am not a coder

[Monkeys]

also I was saying the regulatory/licensing portion is impossible without massive fiat reserves, not the coding portion

The original scope of the implementation requiring FINCen licensing is not feasible at this stage I agree.

There are however, other ways to provide VRC in exchange for FIAT within the wallet without using Moolah or any other exchange directly.

If you could accept credit card payments within the wallet, VRC could be purchased from a 'fund' (Verifund perhaps?) at a close approximation of the current exchange rate minus a small processing fee, and the FIAT from the credit transaction could then be used to later purchase more VRC from an exchange to keep the fund 'topped up'.

Now I'm not an expert in finance or law by any means, but I don't believe that this would require FINCen licensing like Cryptsy has.

hmmmm im not sure im not a lawyer but if this is feasible then perhaps its worth taking a look at but yes chargebacks would be a major concern

They would be, and without verification it would almost certainly result in a lot of chargebacks which you would not be able to win. With verification however, disputing the chargeback claim would be a piece of cake.

further incentive for VERIfication then? you only get Fiat/wallet Credit/debit card purchasing enabled if you get VERIfied? that could work but the implementation of such is beyond me I am not a coder

That would be how it could work I believe.

I'm also not much of a coder, but I don't think it would be difficult for a proficient programmer.

[Coinler]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

why didn't you take the money and run? lol j/k

hhahah that joke ive heard so many times by basically everyone that's been in one of these rooms lol

lol ya wouldn't get far I assume, but hey glad you are here with us

lol thought never crossed my mind. but for others i probably cant say the same. ive seen some work with tears welling up in their eyes haha. few could work in these rooms unsupervised however so ya, wont get very far.

[phzi]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

vericoin may have chosen to use a 3rd party. but doesnt that mean "not impossible"?

anyway it's past my bedtime/movietime so im off for now.

It's not just an opinion... nor does having sat next to piles of cash indicate you know anything about credit card fraud prevention.

How about this: if you're so sure nobody can defraud your credit card processing implementation, please put your money where your mouth is, and offer a public challenge to proving you wrong.

The fact your say, "you'll find cops at your door" clearly indicates that you have no clue about anonymity on the internet.  How exactly are you going to find the person that defrauded you to buy a digital product that was never shipped?  And even if you are talking about a merchant that physically ships products, it's going to be a drop address, and the recipient will be long gone by the time you get the credit card charge back...

So... Prove it or shut the fuck up - and I'll happily disprove anything you try to prove about your recent comments. So, I would suggest you go with the "shut the fuck up" option, and stop talking about what you don't know.  You show me somewhere that you can purchase crypto currencies with credit cards, and I'll show you somewhere that is (or will be) actively being defrauded.


And BTW, working with large sums of cash that isn't yours is easy - most people learn quickly not to associate that cash with spendable money, and instead view it as a sort of monopoly money - it can be counted, but has no real world value to you.

[buy4crypto]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

vericoin may have chosen to use a 3rd party. but doesnt that mean "not impossible"?

anyway it's past my bedtime/movietime so im off for now.

It's not just an opinion... nor does having sat next to piles of cash indicate you know anything about credit card fraud prevention.

How about this: if you're so sure nobody can defraud your credit card processing implementation, please put your money where your mouth is, and offer a public challenge to proving you wrong.

The fact your say, "you'll find cops at your door" clearly indicates that you have no clue about anonymity on the internet.  How exactly are you going to find the person that defrauded you to buy a digital product that was never shipped?  And even if you are talking about a merchant that physically ships products, it's going to be a drop address, and the recipient will be long gone by the time you get the credit card charge back...

So... Prove it or shut the fuck up - and I'll happily disprove anything you try to prove about your recent comments. So, I would suggest you go with the "shut the fuck up" option, and stop talking about what you don't know.  You show me somewhere that you can purchase crypto currencies with credit cards, and I'll show you somewhere that is (or will be) actively being defrauded.


And BTW, working with large sums of cash that isn't yours is easy - most people learn quickly not to associate that cash with spendable money, and instead view it as a sort of monopoly money - it can be counted, but has no real world value to you.

Verification on both ends of a transfer could make this happen. If both parties agree to the terms of verification then if someone took a product illegally they would have to face the law. This would require adapting the current business practices set in place by crypto currencies, and companies like Paypal ect. The reason CC get charged back is that Paypal simply hasn't found a way to make intellectual property sales secure enough yet. I have seen chargebacks on "intellectual" property since the day people started charging back. I have been in video game sales for roughly 17 years before I moved onto crypto, so I am very familiar with chargebacks.

The only reason they charge back is they have no proof of sale for "intellectual" property. Which is why in most cases, all you need to do is send something like a hand letter to prove delivery / acceptance and then all the ability to charge back goes away once you have verified your side of the transaction. In intellectual property debates the companies like paypal, currently always side with the buyer as a default.

Now imagine, if VRC used verification and could make this integration between intellectual property sales, and merchants seemless, and more secure? Sure it would require additional innovation to create that security. But that is why we are here, having this discussion.

[Bobsurplus]

Guys... any update on when the next rollback will happen? I'd like to know so I can make a few grand on it if possible.

[barabbas]

Guys... any update on when the next rollback will happen? I'd like to know so I can make a few grand on it if possible.

Hi Robert, Bobby, Bob,

Of course when conditions in the market warrant. But I am making right here, right now the formal suggestion to have a Roll Back Day every year on the anniversary of Launch, as a preemptive strike in case some thieves are considering an attack.

Imagine the marketing possibilities... "Vericoin: The Wal-Mart of Crypto"... Catchy, ah? The possibilities are endless, really, but I volunteer only this one as a tease.

Much more on pay-per-view...

[TomHolden]

A short document on VeriCoin I produced. Please direct discussion to the reddit thread.

http://www.reddit.com/r/vericoin/comments/2bop8l/comments_on_vericoin_from_an_academic_economist/

Hope it is of some interest.

[ontopicplease]

What's the next milestone for VRC?

my opinion is that this coin is already self sustaining and the dev team has demonstrated that they are willing to do what it takes to protect their investors. i would say an aggressive marketing campaign to spread the word about vericoin. more articles accentuating vericoin developments and delivery so far. let the other coins try to demonstrate what they have to compete with that. blackcoin is out of the competition though. wouldnt even buy it if i heard about a pump beginning. just trade/invest, use vericoin services and if you run into problem you know you have a competent dev team that will fix any problems that prop up once reported by the community. that's what i call a crypto-currency!

most other coins are just speculative and have those so greedy they will do whatever they think will help to manipulate the market in their favour. but vericoin is a worthy investment. these guys have always delivered exciting stuff for the community and i wouldnt be surprised if we will see more later on.

You probably haven'ty heard the last coming from casa Blackcoin: They are about to hire a new marketeer... as some of the fan-boys are beginning to claim that either or both IconicExpert and Wizrig/Joel Bosch, come back.

I am sure though you have heard about the $32k they spent in hiring the Max Borgess Agency to do PR for them... so far -two months into the 3 month contract-, The Agency has produced a second-level employee Q&A with the fanboys in Reddit, 2 press releases and one article in a newspaper, i believe. People in crypto have been known to have gone to hospitals with seizures due to uncontrollable laughter about the subject...

Well, not that I fully support iconic expert, but he at least warned all the time against spending these amounts on PR-companies. Actually, I was really disappointed when I saw that Joel Bosch guy showing up here. From the moment he was doing his lowlevel screaming at blackcoin many real investors left. The moment I saw that guy here, I knew I had to sell, but I had too much faith in the devs and I kept all my coins ( and I have a lot VRC). Really hope Joel leaves today to blackcoin and never comes back. That guy has a negative value. When you look a blackcoin- or VRC-broadcast and you see him sreaming like a kid, you are shaking your head and quickly investigate another coin.

[keshuker]

What's the next milestone for VRC?

my opinion is that this coin is already self sustaining and the dev team has demonstrated that they are willing to do what it takes to protect their investors. i would say an aggressive marketing campaign to spread the word about vericoin. more articles accentuating vericoin developments and delivery so far. let the other coins try to demonstrate what they have to compete with that. blackcoin is out of the competition though. wouldnt even buy it if i heard about a pump beginning. just trade/invest, use vericoin services and if you run into problem you know you have a competent dev team that will fix any problems that prop up once reported by the community. that's what i call a crypto-currency!

most other coins are just speculative and have those so greedy they will do whatever they think will help to manipulate the market in their favour. but vericoin is a worthy investment. these guys have always delivered exciting stuff for the community and i wouldnt be surprised if we will see more later on.

You probably haven'ty heard the last coming from casa Blackcoin: They are about to hire a new marketeer... as some of the fan-boys are beginning to claim that either or both IconicExpert and Wizrig/Joel Bosch, come back.

I am sure though you have heard about the $32k they spent in hiring the Max Borgess Agency to do PR for them... so far -two months into the 3 month contract-, The Agency has produced a second-level employee Q&A with the fanboys in Reddit, 2 press releases and one article in a newspaper, i believe. People in crypto have been known to have gone to hospitals with seizures due to uncontrollable laughter about the subject...

Well, not that I fully support iconic expert, but he at least warned all the time against spending these amounts on PR-companies. Actually, I was really disappointed when I saw that Joel Bosch guy showing up here. From the moment he was doing his lowlevel screaming at blackcoin many real investors left. The moment I saw that guy here, I knew I had to sell, but I had too much faith in the devs and I kept all my coins ( and I have a lot VRC). Really hope Joel leaves today to blackcoin and never comes back. That guy has a negative value. When you look a blackcoin- or VRC-broadcast and you see him sreaming like a kid, you are shaking your head and quickly investigate another coin.

I believe he and his pump group has already moved on to some I/O coin

https://twitter.com/wizrig

[GridWorker]

If you implement credit to crypto, you're going to get defrauded left, right, and center... 

You've heard of coin.mx right? They don't have that problem.

[effectsToCause]

Hey guys,

The debate over identity is interesting and helpful.  At the conference we came up a with new way to handle this in a fully decentralized way where you have optional identification (mostly for merchants or any others) and complete privacy (mostly for individuals), decentralized on the blockchain.  This is a silver bullet because identity on the blockchain is very public money transmission, yet without some identification mass adoption and full business adoption may be difficult.  We think we have cracked this problem wide open, I can't give details on this because we are actively developing this right now, but it's a game changer.

[onsightit]

Hey guys,

The debate over identity is interesting and helpful.  At the conference we came up a with new way to handle this in a fully decentralized way where you have optional identification (mostly for merchants or any others) and complete privacy (mostly for individuals), decentralized on the blockchain.  This is a silver bullet because identity on the blockchain is very public money transmission, yet without some identification mass adoption and full business adoption may be difficult.  We think we have cracked this problem wide open, I can't give details on this because we are actively developing this right now, but it's a game changer.

Thanks, Doug.  Keep on rolling...