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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1346458 times)
Kevondo
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September 12, 2014, 04:14:27 PM
 #15981

Thanks. What was the news if you dont mind me asking. I know I should read on my own because I hate these questions in my threads. But this is 800+ pages so it might take me a bit.

VRC is apparently going to be a core coin of the SuperNET project. James, whom is the founder so-to-speak of SuperNET participates often on the VRC forum. This could be a game-changer once it comes to fruition.

P.S. - Welcome to the VeriCoin community!!

Basically what knox said. bitcointalk.com user jl777 aka "James" has been working on a pretty significant project here called SuperNET. Basically it's designed to unify alternate coins together under 1 system to increase the functionality and usability. He had an IPO type launch to raise some addtional funds over the weekend - something like 3,000-4,000 BTC. On top of that, going back to vericoin - the community joined together and raised a pretty good chunk of change ourselves (500,000+ VRC) to donate to the cause. James announced Sunday morning good things were coming for VRC.

I've been following vericoin since the end of June - been in and out a few times depending on the situation but I'd definitely say this is a big plus for vericoin. Long term goal of 1 year is to have the coin at least at .0005 now whether or not this can happen is another story Wink

But if you do any research on jl777 you'll find he's a really intelligent person, has a history of success, and has a pretty serious project going on with SuperNET.

Thanks for the info.

Unfortunately that "info" is quite a bit scattered and you have to take it with a grain of salt... a very big one at that.

It is complex and difficult to put forward in a few words, but I'll try: jl777, "James" is a member of the Vericoin community and has a sizable (around 220k VRC) investment in it. He is also an "honorary dev", so to speak, self-bound to get Vericoin to join the core of the SuperNET project... in due time. It will be a few months, before he can get the code up to speed with the requirements the SuperNET imposes and, meanwhile, Vericoin and its devs will be acting as spokespersons for the SuperNET project. All of this has been enthusiastically supported by all but 2 of the members of this community, including the three devs who have generously donated to the initial requirement of James (an option fund of sorts). Given that the community and its devs came out with over 500k Vericoin "donated" to the fund in 48 hours, James exercised unparalleled generosity and reverted the fund entire to the community... so the funding continues in effect with a target of 2 to 2.5 million coins which, with the full support of the community, will be earmarked to acquire a stake in SuperNET in exchange for an investment of the SuperNET in Vericoin, in identical amount.

There are two targets (or thresholds), set by James, one to reach 0.0005 BTC per VRC in price, and another to reach 0.001BTC. Although the ETA is cloudy, all those targets and objectives can and should be accomplished along the next few months, 6 at most, but obviously there are no warranties.

I hope this synthesis reflects the current situation and projects -along with the ones that Vericoin had itself before "James" came in, of course-. For more detail, you should look for one the most recent posts by PNosker, one of the developers, in which he offered a nice update on what was actually taking place in the new roadmap of the development, since James arrived. It should be within the last 10 pages of the forum, I think.

Who are you and what have you done with barabbas?

I kid...I kid...Thank You for taking the time to respond in a kind and positive matter. In all seriousness +1 from me!

You are off the ignore list for now...hope it stays that way Kiss

This is the first I've heard of this; " will be earmarked to acquire a stake in SuperNET in exchange for an investment of the SuperNET in Vericoin, in identical amount."

My understanding is Yes the VRC community would have to vote on any expentitures from the contributed funds.
However what sounds like a "Stock Swap" or "you buy mine, I buy yours" is news to me.

Another issue is ( James has impressed me with his posts and writings) a  concept pertaining  to "Voting" on the expentures/uses of the Fund (536,042 VRC) by the  VRC Community. He  mentions a "weighted vote".
James, Please, if you would, elaborate on what "Weighted Vote"  means in this context  and how it would be implemented.

Hi james proposed it a few pages back.
About the voting. The weight will be the amount of coins. More coins = more votes
But i assume it only is for people who donated into the fund, but i guess you could discuss it

Not Veri Democratic!

More coins = more votes. Hummmmmmmm?

.

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September 12, 2014, 04:16:10 PM
 #15982

That Doesn't sound Veri Democratic.

More coins = more votes. Humm!!

Why so? People who were putting more in the fund are risking more then people who didnt.
I think thats a good incentive for people to send vrc into the fund.
I.e. it would suck if a troll that has no vrc in the fund would have as much votingpower as me who put thousands of vrc in there... tbh that would be not veri democratic ughs

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jansako
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September 12, 2014, 05:43:55 PM
 #15983

That Doesn't sound Veri Democratic.

More coins = more votes. Humm!!

Why so? People who were putting more in the fund are risking more then people who didnt.
I think thats a good incentive for people to send vrc into the fund.
I.e. it would suck if a troll that has no vrc in the fund would have as much votingpower as me who put thousands of vrc in there... tbh that would be not veri democratic ughs

Aren't you confusing "Democratic" with "fair"?

For every community member to have a vote, regardless of riches (contributions), that is democratic.

For the community members that contributed more to have a weighted vote (and for the troll to have no vote), that may be fair. :-)

Just my 2 vericents.
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September 12, 2014, 05:55:49 PM
 #15984

That Doesn't sound Veri Democratic.

More coins = more votes. Humm!!

Why so? People who were putting more in the fund are risking more then people who didnt.
I think thats a good incentive for people to send vrc into the fund.
I.e. it would suck if a troll that has no vrc in the fund would have as much votingpower as me who put thousands of vrc in there... tbh that would be not veri democratic ughs

I strongly disagree.

One Person. One vote!


.

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September 12, 2014, 05:59:13 PM
 #15985

A strong community like vericoin needn't worry about trolls.  VeriUnited...

-tb-


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September 12, 2014, 06:21:09 PM
 #15986

That Doesn't sound Veri Democratic.

More coins = more votes. Humm!!

Why so? People who were putting more in the fund are risking more then people who didnt.
I think thats a good incentive for people to send vrc into the fund.
I.e. it would suck if a troll that has no vrc in the fund would have as much votingpower as me who put thousands of vrc in there... tbh that would be not veri democratic ughs

I strongly disagree.

One Person. One vote!



The way PoS works is that every coin gets a vote. That's why you can have one person with 51% attack the chain. That's the only way to stop people from making a lot of 1 VRC accounts with a vote as strong as yours or mine. It's a form of blockchain voting, similar to the US House of Representatives-- proportional representation.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
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September 12, 2014, 06:23:49 PM
 #15987

http://3.bp.blogspot.com/-1aqur3juJHY/UqETJmPFuII/AAAAAAAAPYY/S39TN5CNMJc/s1600/as_you_wish.gif

contentéDeJouirDeL'existenceEnSpectateur. orWasHe?
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September 12, 2014, 06:41:55 PM
 #15988

Nice little double-up after the switch to anonymous by VRC.

Bravo. This is now a p&d coin. Congrats.

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September 12, 2014, 06:49:45 PM
 #15989

Hmm FUD all at once form new accounts. Let me see how much weight your words have. HMMM Look a feather out weighs them.

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September 12, 2014, 06:49:57 PM
 #15990

Now people are trying to use NYC regulations as some kind of weapon against the coin.  People who can barely write a sentence are attorneys all of a sudden.  Absurd.  
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September 12, 2014, 07:18:52 PM
 #15991

As someone who has had to deal with Mr. Lawsky and many other Inspector Zenigata like people before as well as spent many months attempting to reacquire seized assets from the us gov after egold, liberty reserve, a few other incidents....

I warn you, do not under estimate Ben Lawsky and NYC's reach of influence when it comes to these matters.


We have had a plan for VRC since the beginning but then mintpal to put it so elegantly... fucked us...

We then gave mintpal a chance to make things right by throwing buy support towards vrc to help prevent dump after the hax but instead they decided to make a quick exit and sold to Mr. Green and the moolah crew... since he was a "supporter" of VRC we thought maybe he would correct the situation as well as show some appreciation to the fact that b/c of the vrc hack Mr. Green most likely paid a very discounted price for mintpal and so we thought maybe just maybe mintpal would do the right thing and put vrc back to the price we had gotten it to b4 they at mintpal dropped the ball but mintpals support was non existant. so the market entered a dump phase... or well more of a controlled fall to bottom out around 10k.

Even through all this we still had in motion plans to put REAL money and Corporate support behind vrc We just needed to wait for final draft of the NY regs before companies felt comfortable enough to move forward.


but since james has expressed not a care in the world about laws or the extent of influence that the NY and US banking industry has we and the people working with us no longer feel comfortable with injecting any more money into this project due to the amount of influence Mr. JL has (even if the community support aspect of JL has been positive for VRC) or with the amount of the market promised to him by devs and community.

must ask where is our 1.3 mil coins for being part of taking market to 50k? like you ppl have promised JL... we never got 1.3 mil coins for that... I only have my personal stash of just over 1/2 mil coins now and nobody gave me any of those.



VeriCoin, at the core of the coin, is the same it is today. And it will always be that way. With integrated optional features, it's up to the user to decide whether they want to use things that may conflict with various regulations. There's no obligation to even run a wallet with those elements enabled, and we will offer both options.

I'm not sure what you're talking about re: 1.3M coins but nobody gave James any, just the option to purchase at the price the coins were worth earlier. Not only that, but JL donated them back to the VRC community.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
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September 12, 2014, 08:51:45 PM
 #15992

As someone who has had to deal with Mr. Lawsky and many other Inspector Zenigata like people before as well as spent many months attempting to reacquire seized assets from the us gov after egold, liberty reserve, a few other incidents....

I warn you, do not under estimate Ben Lawsky and NYC's reach of influence when it comes to these matters.


We have had a plan for VRC since the beginning but then mintpal to put it so elegantly... fucked us...

We then gave mintpal a chance to make things right by throwing buy support towards vrc to help prevent dump after the hax but instead they decided to make a quick exit and sold to Mr. Green and the moolah crew... since he was a "supporter" of VRC we thought maybe he would correct the situation as well as show some appreciation to the fact that b/c of the vrc hack Mr. Green most likely paid a very discounted price for mintpal and so we thought maybe just maybe mintpal would do the right thing and put vrc back to the price we had gotten it to b4 they at mintpal dropped the ball but mintpals support was non existant. so the market entered a dump phase... or well more of a controlled fall to bottom out around 10k.

Even through all this we still had in motion plans to put REAL money and Corporate support behind vrc We just needed to wait for final draft of the NY regs before companies felt comfortable enough to move forward.


but since james has expressed not a care in the world about laws or the extent of influence that the NY and US banking industry has we and the people working with us no longer feel comfortable with injecting any more money into this project due to the amount of influence Mr. JL has (even if the community support aspect of JL has been positive for VRC) or with the amount of the market promised to him by devs and community.

must ask where is our 1.3 mil coins for being part of taking market to 50k? like you ppl have promised JL... we never got 1.3 mil coins for that... I only have my personal stash of just over 1/2 mil coins now and nobody gave me any of those.


Let me understand this. The fact that I am calling the sending of assets to the holders of NXTventure assets a "dividend" is somehow making all of VRC illegal in the USA?

Even though NXTventure has no direct relationship to VRC

Maybe the fact that I am involved in some things that USA does not like makes everything I do tainted?

If this is truly the case, then since I am involved in a lot of crypto projects, maybe people in USA need to immediately stop all usage of crypto? It is not possible to follow every law in every country, especially if they are contradicting of each other. I am not able to solve two mutually exclusive things at the same time.

I am making the crypto solutions. I do not have the ability to solve 100+ fiat compliance things, but maybe this is VRC's role. To make a "fiat GUI". To put a layer around my dangerous raw crypto to make it legal for the USA.

I do not advocate illegal activities! Please do whatever is needed to follow all your laws, we do not need troubles from the lawmen.

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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September 12, 2014, 09:08:45 PM
 #15993

Monsieur Lupin, you express yourself very poorly and, consequently, it is very hard to understand what you say. Some of it.

I believe you are worried by the potential inclusion of Vericoin in the SuperNET being a possible non-compliance aspect of possible (as a matter of fact, sure) regulation coming up in the US... while we all must be thankful for your felt concern, we also should do everything we can to push the Vericoin project forward, you know. And while you give credit to James for having unified the community, you fail to give him credit for several other things that, presumably, he has also brought, chief among them the technological know-how to bring Vericoin to the forefront of the most advanced coins in the market. And, although you give that credit to the community, the increase in volume and price, sorry monsieur, all "Jame's effect". So, as they say, we will cross the bridge of regulation when we get there. And, hopefully, we will do it with enough tools and resources to even influence that regulation coming, something we would have never been in position to do sans the "James effect".

You use the word "market" in several different ways, all wrong, I'm afraid. You use it as a synonym of "price", which is quite incorrect and then you use it in a very ambiguous way that I am unable to discern when you say "... with the amount of market promised to him...", which is just too confusing to even address. So I would just say NO, YOU ARE 100% wrong. And leave it at that, since no amount of explanations would convince you of the evident truth.

But you are extremely confused in a lot of things, besides those too: Mintpal is an exchange and, as such, lacks any power whatsoever to "... maybe just maybe mintpal would do the right thing and put vrc back to the price we had gotten it to b4 they at mintpal dropped the ball...". What did you expects exactly, that you even dare to call "the right thing"? You SURELY don't mean that somehow manipulating the price would be "the right thing", do you? And how would you figure an exchange can manipulate the price? It seems to me monsieur that "the right thing" that you hoped for is indeed a very nasty, illegal, punishable by law and otherwise impossible to carry out "thing".

Those plans that "we" (you and your group) had to bring in "REAL money and Corporate support..." to Vericoin, were anywhere in the horizon? Because when the coin bottomed (not "around 10", but actually below 8 sat) we experienced a prolonged drought of any kind of support, Corporate, REAL money or otherwise, from anywhere, while people was jumping ship right and left and all the way around while Vericoin was discounted as just another dead project by most across cryptoland. You know? It is very nice to offer someone food when he's hungry but if you offer a potential nice dinner sometime down the road, lets say MONTHS down the line, how do you think the hungry man would feel about it?

Finally, Monsieur, your 1/2 million VRC is worth today, still, even at these weekend discount prices, 60% more than it was worth before James' involvement in VRC. This is a FACT that I dare to suggest you should take advantage of since the project, to you Monsieur, has veered away from the idea that brought you in. Personally, while I hate that you will leave, I admit that I'd love to see you go.
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September 12, 2014, 09:16:08 PM
 #15994

wont investors and business move away from them laws?, seems its all electronic can be instantly moved to other accepting countries?.

VGWNxRiC1s3jMi7S6Nzuv2PpDKT9PmqiQy   <-----  VRC treatment fund for the clinically insane. -----> (Barabbass-AltcoinUK).
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September 12, 2014, 09:29:19 PM
 #15995

I live in New York....  Ben Lawsky can go fuck himself just like I told him the day he announced it on reddit. Good luck proving anything and if you do good luck trying to get me as I never open my door to strangers and do not have a phone. Most New Yorkers are sick of this shit just as I am, every week there is a new law or regulation followed by the new summons or ticket. This system is designed to be one big cash register for the government, I do not use banks anymore and most of my wealth is in precious metals for long term
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September 12, 2014, 09:37:04 PM
 #15996

@ James

The main and so far ONLY purpose of the regulation coming in the US is the PROTECTION of the consumers and investors. Investors are ALREADY quite responsible for their dividends, in crypto or anything else, and they MUST pay taxes on those. Already.

Now, it is presumable that part of the regulation coming will include the obligation of a carrier of funds to notify the authorities when a transaction exceeding X amount, takes place in its network. This is part of the obligation of banks, currently. Could it be exported to crypto? It seems quite unlikely (for no matter how big the amount it could be sliced into many smaller transaction, therefore going under the radar), so the presumption that peer-to-peer transactions, anonymous or not, would be against the law after regulation is implemented, is just that, a baseless presumption; now, when that is carried out to make the coin itself responsible, legally, for what the users do with the technology it provides, it is simply, at this point, preposterous.

Monsieur Lupin  has simply gone fou on us here ...
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September 12, 2014, 09:58:49 PM
 #15997

@ James

The main and so far ONLY purpose of the regulation coming in the US is the PROTECTION of the consumers and investors. Investors are ALREADY quite responsible for their dividends, in crypto or anything else, and they MUST pay taxes on those. Already.

Now, it is presumable that part of the regulation coming will include the obligation of a carrier of funds to notify the authorities when a transaction exceeding X amount, takes place in its network. This is part of the obligation of banks, currently. Could it be exported to crypto? It seems quite unlikely (for no matter how big the amount it could be sliced into many smaller transaction, therefore going under the radar), so the presumption that peer-to-peer transactions, anonymous or not, would be against the law after regulation is implemented, is just that, a baseless presumption; now, when that is carried out to make the coin itself responsible, legally, for what the users do with the technology it provides, it is simply, at this point, preposterous.

Monsieur Lupin  has simply gone fou on us here ...
This whole legality issue is one that is those messy problems that I like to avoid
http://en.wikipedia.org/wiki/Legality_of_Bitcoin_by_country

Now it used to be encryption itself was illegal and regulated like military grade explosives in the USA. So, to make any sense of this seems a waste of my time. I cannot hope to understand all the intricacies of the laws of any single country, let alone globally.

With the coming devaluation of the USD, the various levels of govt there will take more and more extreme measures to obtain "revenues", which is of course a nice way of saying taxes and fines.

So, I will keep on making the low level tech and rely on others to make the GUI that allows for its easy use and legal compliance. If there is some need for tech to split things up to be smaller than a threshold amount, just let me know, this is not a hard thing. If there are requirements to make the reportings of accts with a transaction volume over a threshold, I can implement virtual accts that are formed from a set of smaller accts. Or you can just send in the entire blockchain as a nice printout Smiley

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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September 12, 2014, 10:03:57 PM
 #15998

http://3.bp.blogspot.com/-1aqur3juJHY/UqETJmPFuII/AAAAAAAAPYY/S39TN5CNMJc/s1600/as_you_wish.gif

contentéDeJouirDeL'existenceEnSpectateur. orWasHe?
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September 12, 2014, 10:15:26 PM
 #15999

my apologies for mistaking 1.3 mil being given to Mr JL... I was going off of kevandos vrcradio info from previous recording but this deal has been changed so many times by so many different ppl that it has been hard to keep track.

Allow me to state more clearly and please do correct me if I am wrong but 2.6 million vrc will be given to "supernet" as assets "controlled" by the vrc community of which a certain percentage will go to James' personal wallet once the price hits 50k for a day and another percentage payment to JL once prices hits 100k for a day.

and James yes, it does when you have the intentions of using vrc as the entry and exit point of fiat to a system or network used for illicit and non compliant/prohibited transactions.

I suggest that the devs get with a top level NY financial legal consultant preferably one already familiar with digital currencies, the banking industry, and potential liabilities and discuss all possible scenarios to minimize exposure. Although this will not be a cheap venture as anyone decent will cost an average price of $1000+ an hr (our last qtr. rate was 1250 per hr) it would pay off in the long run for vrc and its public devs.


and yes barabbas the price is up 60% since james' involvement but 60% is nothing in this world of crypto...


you also did not see me running around shouting about the lupin effect when vrc went up by 10000% or how it is still 2000% above the price at the time of our entrance to the market which was 500-700 vrc.


and yes lootz I feel the same way... but that will not stop him from doing as he pleases to make examples of people.


What are you saying, are you holding vericoin, selling it or buying? Are you still supporting the operation or moving out from the coin?
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September 12, 2014, 10:26:03 PM
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my apologies for mistaking 1.3 mil being given to Mr JL... I was going off of kevandos vrcradio info from previous recording but this deal has been changed so many times by so many different ppl that it has been hard to keep track.

Allow me to state more clearly and please do correct me if I am wrong but 2.6 million vrc will be given to "supernet" as assets "controlled" by the vrc community of which a certain percentage will go to James' personal wallet once the price hits 50k for a day and another percentage payment to JL once prices hits 100k for a day.

and James yes, it does when you have the intentions of using vrc as the entry and exit point of fiat to a system or network used for illicit and non compliant/prohibited transactions.

I suggest that the devs get with a top level NY financial legal consultant preferably one already familiar with digital currencies, the banking industry, and potential liabilities and discuss all possible scenarios to minimize exposure. Although this will not be a cheap venture as anyone decent will cost an average price of $1000+ an hr (our last qtr. rate was 1250 per hr) it would pay off in the long run for vrc and its public devs.


and yes barabbas the price is up 60% since james' involvement but 60% is nothing in this world of crypto...


you also did not see me running around shouting about the lupin effect when vrc went up by 10000% or how it is still 2000% above the price at the time of our entrance to the market which was 500-700 vrc.


and yes lootz I feel the same way... but that will not stop him from doing as he pleases to make examples of people.


Arsene, you still don't get it:  but "...this deal has been changed so many times by so many different ppl that it has been hard to keep track." is both misleading AND incorrect. This deal has only been changed by one person, James. Only by him. And yes, he has changed it a couple of times -every single one in favor of Vericoin's community, it is important to say- but I find that you looking for in formation from other sources, when you have posted here, from the horse's mouth (not only James but also the devs of Vericoin), the truth, seem quite absurd... or worse.

Again: You still have it wrong. Quite. James is no longer asking for any personal compensation to him... except anything the the Vericoin community deems he deserved and decides to give to him when and if the results exceed the thresholds already set. It will be entirely VOLUNTARY. You get that, don't you? But ask James for further clarification before reaching quite "fou" conclusions on your own.

The other thing where you are 100% WRONG -so I am correcting you, as requested- is in the matter of the 2.6 million VRC "given" to SuperNET... NOTHING will be "given" here. It is, currently, an initial requirement of the SuperNET to have the candidates to be part of its core, invest 10% of their total value in SuperNET which, in turn, will invest the same amount in the candidate. So instead of "given" it would be a "swap" of equal value. Quite a different proposition.

Now, as James has explained, these things change and adapt depending on the many variables and circumstances along the way, so nothing is either guaranteed nor written on stone. And EVERYTHING will depend on the free will of the Vericoin community when those milestones are reached.

Which, like in the case of your advice regarding future potential legislation, is I am afraid, quite premature.

As for 60% being "nothing in this world of crypto..." I get your meaning, clumsy and absurd as it is, but it is still 60%: People have 13 now where they had 8... which is MORE than 60% but still good for reference purposes.

Now you are quite funny indeed when you state that you didn't go running around shouting the gains in Vericoin after the launch were "the Lupin effect"... Really funny. You know what? They weren't "the lupin effect". The lupin effect is, in a very twisted way, laughable (because laugh is good, which is the opposite of what you, lupin, represent). I'm sorry for being a bit blunt but coming here completely uninformed, spreading all kind of misinformation and somehow pretending that having 1/2 million VRC gives you any kind of authority, makes me feel that I need to be way blunt-er. Like medieval blunter. So I exercise quite a bit of restrain to keep it civil.

I hope you appreciate it.
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