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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1346502 times)
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July 27, 2014, 08:55:57 AM
 #11761

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.
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July 27, 2014, 09:35:16 AM
 #11762



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.
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July 27, 2014, 09:54:46 AM
 #11763



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

Blackcoin Lambo fund: BCLambopPArisAFDVbkVWSPQFM8ywP9A1L
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July 27, 2014, 11:47:21 AM
 #11764


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.

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
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July 27, 2014, 01:23:05 PM
 #11765

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.
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July 27, 2014, 01:25:16 PM
 #11766

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...

VRC: VMTMcvFjZHAshmVNLY5KYVHCTqcfEnH6Bd  SLR: 8W7D6D7rortYp51BK9MSrfripSoZWyVPVr  BTC: 1LbgAsTDtyWEGjiSaguJhJbaHBPgcMnHfP  BCC: 1Ta39PK67VXTD2xnmPNo5J9KJyBVHdYmy
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July 27, 2014, 01:35:51 PM
 #11767



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

well that doesn't instill a lot of confidence..
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July 27, 2014, 01:58:16 PM
 #11768

Joel is still supporting VeriCoin from the backend, he decided being out in cryptoland too public is negatively effecting his reputation for his other businesses, due to some who slander him.  
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July 27, 2014, 02:00:58 PM
 #11769

Joel is still supporting VeriCoin from the backend, he decided being out in cryptoland too public is negatively effecting his reputation for his other businesses, due to some who slander him.  

Why is he participating in other crypto then? He is currently pumping IOC. And the other day was all mad about "crypto scams" IMO I think you guys need to stop being nice to him and distance yourself. I don't think many in the community support him in any way, shape, or form. His involvement I actually felt was a black eye we where finally getting over.

For me any association he has = red flag. You guys need to be the most trusted team in crypto. Associations with that guy, a clear manipulator / liar, are not helping...

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July 27, 2014, 02:04:57 PM
 #11770

Joel is still supporting VeriCoin from the backend, he decided being out in cryptoland too public is negatively effecting his reputation for his other businesses, due to some who slander him.  

Why is he participating in other crypto then? He is currently pumping IOC. And the other day was all mad about "crypto scams" IMO I think you guys need to stop being nice to him and distance yourself. I don't think many in the community support him in any way, shape, or form.

For me any association he has = red flag. You guys need to be the most trusted team in crypto. Associations with that guy, a clear manipulator / liar, are not helping...

He has supported multiple coins always, he helps to get coins off the ground mostly.  He is not on the team or anything, just a member of the community.  He has come through on his commitments for VeriCoin however the company he hired didn't.  But it all doesn't really matter because he's not in the foreground anymore.
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July 27, 2014, 02:09:47 PM
 #11771

Joel is still supporting VeriCoin from the backend, he decided being out in cryptoland too public is negatively effecting his reputation for his other businesses, due to some who slander him.  

Why is he participating in other crypto then? He is currently pumping IOC. And the other day was all mad about "crypto scams" IMO I think you guys need to stop being nice to him and distance yourself. I don't think many in the community support him in any way, shape, or form.

For me any association he has = red flag. You guys need to be the most trusted team in crypto. Associations with that guy, a clear manipulator / liar, are not helping...

He has supported multiple coins always, he helps to get coins off the ground mostly.  He is not on the team or anything, just a member of the community.  He has come through on his commitments for VeriCoin however the company he hired didn't.  But it all doesn't really matter because he's not in the foreground anymore.

That is a very scary thought. Unless he is willing to tell us if / when he has sold any coins, I don't trust it one bit. So many people where active up until the peak. Joel, (Wizrig) and others. If they give money to a project to win people over, and then fleeces the community for 10's of thousands or more, I don't think that is a win for anyone in the community. "It takes money to make money" Now that he is working the "backend" That makes it even more dangerous to me as I don't trust that guy 1 bit. Maybe others from the community can share thoughts / concerns. If I am the only one that feels this way, then so be it. But if others are as passionate about this issue as I am, maybe you all could reconsider.

We are a team, not developers / Joel, and then the community. For someone like him to work closely with anyone in privacy is the most dangerous thing that can happen to a coin. His history has proven this time, and time again.

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July 27, 2014, 02:27:49 PM
 #11772

монету сливают, гогно монета

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July 27, 2014, 02:31:39 PM
 #11773

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.

i would respond to this. believe me i would, but ive said enough on the topic. i know all about credit card processing technologies, the holes and loopholes in various implementations and what you say isnt far from the truth. but truth be told.. the more information i provide is the more information i provide for free. so if noone believes it is possible, then that just leaves the door open for me to deliver something brand new to cryptocommunity. im working on developing my own project atm and these features are part of my project roadmap. a roadmap where i have the contacts and experience to deliver on every single aspect of it over a 24 month period. it wont be just empty promises. i have my methods of solving problems. it's what i do for a living. im a thinker/inventor etc!

what i will tell you is that i also intend to place bounties out for hackers to try to exploit our code. i intend to hire hackers on contract to further stress test any new technologies i implement so im not afraid of that. ill give you this.. you may be right in saying "there is no 100% security on the internet" and that is absolutely true! but what can be done is that the process is made so difficult to perform, that only a few would take the time, or have the knowhow to perform it. are you going to intercept a call from the bank to it's true cardholder before the transaction is approved? sure you could steal their phone, but what if its on a landline, you'll go outside their house and phreak their box? im no stranger to these technologies my friend. theres alot more that can be done as well regarding security. there are multiple facets.

the last thing i will say on the topic is about chargebacks is that if you provide the required verification through the right channels, then chargebacks dont become an issue and the bank will repay it's real creditcard owner via it's insurance setup. so the merchant doesnt suffer any chargeback issues once they agree to operate under certain protocols.

either way, i can debate a topic without cussing and getting on like a raunchy idiot to get my point across. to me i consider that behaviour losing the debate. so dont frustrate yourselves mate. its just a conversation on the internet.
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July 27, 2014, 02:36:59 PM
 #11774

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.



wait.. what? they havent done the rollback yet? i thought they froze all exchanges in a coordinated effort and did the rollback already??
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July 27, 2014, 02:54:57 PM
 #11775

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.



wait.. what? they havent done the rollback yet? i thought they froze all exchanges in a coordinated effort and did the rollback already??

Hey Coinler, it's just Bob our resident troll!

The rollback was done successfully day of the hack, all stolen coins where returned to their rightful owners and all missing funds ($4,000) was reimbursed by mintpal(merchants, exchanges, coin owners)

Bob is here to spread FUD about the rollback and that's all he has to say repeatedly, we all think he might be mentally deficient.
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July 27, 2014, 03:06:10 PM
 #11776

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.



wait.. what? they havent done the rollback yet? i thought they froze all exchanges in a coordinated effort and did the rollback already??

Hey Coinler, it's just Bob our resident troll!

The rollback was done successfully day of the hack, all stolen coins where returned to their rightful owners and all missing funds ($4,000) was reimbursed by mintpal(merchants, exchanges, coin owners)

Bob is here to spread FUD about the rollback and that's all he has to say repeatedly, we all think he might be mentally deficient.

EffectstoCause can you please confirm this? because this is what i expected and would have been a wise decision.

in addition you couldve tracked the funds with the help of mintpal through the blockchain and have each exchange seize them if they came from one of those addresses that the stolen funds went to. basically blacklisting the address. if you havent already blacklisted the address, perhaps you can speak with your developers about seeing if you can have that done as well if you think it is a feasible move.
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July 27, 2014, 03:10:22 PM
 #11777

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.



wait.. what? they havent done the rollback yet? i thought they froze all exchanges in a coordinated effort and did the rollback already??

Hey Coinler, it's just Bob our resident troll!

The rollback was done successfully day of the hack, all stolen coins where returned to their rightful owners and all missing funds ($4,000) was reimbursed by mintpal(merchants, exchanges, coin owners)

Bob is here to spread FUD about the rollback and that's all he has to say repeatedly, we all think he might be mentally deficient.

EffectstoCause can you please confirm this? because this is what i expected and would have been a wise decision.

in addition you couldve tracked the funds with the help of mintpal through the blockchain and have each exchange seize them if they came from one of those addresses that the stolen funds went to.

Coinler, that is the case. Bob has been here shouting things without much substance for a long time.

Everything has been done with much thought. The developers called everyone that accepts VRC prior to any decision that was made. They looked at all angles and took action to secure VeriCoin.

If you are looking for information regarding the Mintpal hack a good place to start would be watching this youtube video. It's the google hangout with devs after the hack. They explain the situation, and actions taken.

https://www.youtube.com/watch?v=1PkqNcVD0YI

You will need to rewind to the clip it looks like. Hope this helps.

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July 27, 2014, 03:13:26 PM
 #11778

[...]The rollback was done successfully day of the hack, all stolen coins where returned to their rightful owners and all missing funds ($4,000) was reimbursed by mintpal(merchants, exchanges, coin owners)

EffectstoCause can you please confirm this? because this is what i expected and would have been a wise decision.

It's been confirmed and discussed to death. The rollback was done to prevent a 51% attack, which would not have been difficult to do with 8M coins. A beneficial side effect of the rollback was that the thieves lost their coins and Mintpal was bailed out from a disastrous situation.

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July 27, 2014, 03:24:05 PM
 #11779

[...]The rollback was done successfully day of the hack, all stolen coins where returned to their rightful owners and all missing funds ($4,000) was reimbursed by mintpal(merchants, exchanges, coin owners)

EffectstoCause can you please confirm this? because this is what i expected and would have been a wise decision.

It's been confirmed and discussed to death. The rollback was done to prevent a 51% attack, which would not have been difficult to do with 8M coins. A beneficial side effect of the rollback was that the thieves lost their coins and Mintpal was bailed out from a disastrous situation.

excellent, not just on the decision, but the quick thinking and the hardest part of all, performing a successful rollback. so that means that what we have is a confidence issue in vericoin investors. there are conflicting reports out there in the media. there needs to be a cleanup and strong media gathering around support for vericoin's decision. the media information needs to stress that the integrity of the network was maintained via the decision and that there is no need for any doubts from investors that theyll be feeding thieves to invest in this coin. the articles also need to remind everyone that because of this decision vericoin has no reason to suffer the same fate as dogecoin etc since everything is just as it was before the hack. meaning all committed investors are in no way at risk of a dump as was faced with dogecoin.

this is becoming more than 2 cents lol
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July 27, 2014, 03:29:29 PM
 #11780

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.



wait.. what? they havent done the rollback yet? i thought they froze all exchanges in a coordinated effort and did the rollback already??

Hey Coinler, it's just Bob our resident troll!

The rollback was done successfully day of the hack, all stolen coins where returned to their rightful owners and all missing funds ($4,000) was reimbursed by mintpal(merchants, exchanges, coin owners)

Bob is here to spread FUD about the rollback and that's all he has to say repeatedly, we all think he might be mentally deficient.

EffectstoCause can you please confirm this? because this is what i expected and would have been a wise decision.

in addition you couldve tracked the funds with the help of mintpal through the blockchain and have each exchange seize them if they came from one of those addresses that the stolen funds went to.

Coinler, that is the case. Bob has been here shouting things without much substance for a long time.

Everything has been done with much thought. The developers called everyone that accepts VRC prior to any decision that was made. They looked at all angles and took action to secure VeriCoin.

If you are looking for information regarding the Mintpal hack a good place to start would be watching this youtube video. It's the google hangout with devs after the hack. They explain the situation, and actions taken.

https://www.youtube.com/watch?v=1PkqNcVD0YI

You will need to rewind to the clip it looks like. Hope this helps.

you've got to maintain clarity. sarcasm doesnt help but just confuses investors. i got all the media reports so thats why i came here (late) to support the decision. from what i knew it was done immediately following the hack and im glad now that i dont have to retract my earlier comments regarding the rollback.

come on guys dont let the fudsters get you down. the ones responsible for the hack are the only ones that would have a problem with a rollback. that's just common sense. now the thieves have nothing, vericoin needs to take over the media with confidence in themselves in their reports. i havent seen much from you recently on main article websites so its time to take the lead on that. you dont have much competition in crypto. some people just want to slow you down because you were getting close to being direct competition with bitcoin.. which in some ways i believe you already are considering the team you have here.
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