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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1349953 times)
yourstruly
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June 30, 2014, 01:26:46 PM
 #5681

This is part of the reason I don't understand quite understand the hype around veribit.  People are saying it makes things so much easier, but does it really?  

If you don't understand why VeriBit is adding extraordinary value to this coin then that might explain why Cinni is going nowhere. People value convenience. It is an extremely drawn-out and pain-in-ass process to have to transfer coins from your wallet, to an exchange, get a price you want at the time you need it to get BTC and then send those BTC somewhere else.

Instead, you get to keep your BTC in VRC, earning interest while they sleep and, on the occasion you might want to make a small BTC purchase, you can do it in a couple of clicks with no faffing about.

Yes, I know, larger transactions would be better served doing it yourself on an exchange, but people don't spend money in large transactions all the time, they tend to do so in the way that most people spend money, in lots of little transactions, the kind that are perfect for VeriBit.

The wilful nature of the "I don't get why VeriShit is so great!" is starting to wear thin. It is perfectly clear why it is extremely useful a function to have and it is one that is no more centralised than having to send your coins to an Exchange. We all know what can happen to exchanges, so the less money held there, the better.



It like someone walking into Subway saying "Why is Subway so Great? I can make my own sandwich"  Grin ... or Starbucks or McDonalds...

Do you grow your own corn and wheat too and make your own cereal, chips, butter, etc...? or do you go to the grocery store?

Do tell...  Grin

These are not analogous at all. 

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June 30, 2014, 01:27:07 PM
 #5682

Your centralized services on vericoin.info are woefully insecure.

The debian 6 server running the site has not been hardened, you can login as root over ssh. There are many many more problems but I don't want to divulge too much as it could hurt a lot of people. The developer can send me a message if they want to talk about this in private.

Yea... ok. VeriBit/VeriSend are hosted on a Windows server.

They are not hosted on a windows server, that is not what I said. They are clearly hosted on debian running a legacy version of apache. I would be even more worried if they were actually on a windows server.

The "centralized services" aka VeriSend and VeriBit are hosted on verisend.vericoin.info. Do you mean vericoin.info? Those are on a webserver from DreamHost... if those have some sort of issue-- please PM me and let me know what could be wrong. I've never used DreamHost before a week ago and don't even see any SSH access available.
high security Cheesy
T.Stuart
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June 30, 2014, 01:28:04 PM
 #5683

...centralized exchange...

Bitstamp, Kraken, Bitfinex, etc. etc. etc.

                                                                               
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BlackShibe1
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June 30, 2014, 01:28:30 PM
 #5684

What's up
The hype is not over?
Why the price go up?
Verisend yes Veribit yes but what's coming now?


Hype? What's happening with VRC has not happened ever in Crypto...

If so, reply to this post and name the coin(s).

1. Veribit
2. Verisend
3. Buying BTC via VRC with USD (Soon with a Credit Card) - no more waiting on Coinbase for a week
4. Veribank
5. Awesome, respectable Dev team
6. PR Firm

What coins are you following? We are all ears...

VRC on coinbase?
What is Veribank?
I heard some rumors with Microsoft


Lisk.
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yourstruly
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June 30, 2014, 01:31:14 PM
 #5685

I stand corrected, veribit and verisend are ran from a Windows server which is even more troublesome running Microsoft-IIS/8.0.

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yourstruly
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June 30, 2014, 01:32:06 PM
 #5686

...centralized exchange...

Bitstamp, Kraken, Bitfinex, etc. etc. etc.

These ones were not thrown together by a person/team trying to also create a cryptocurrency, these are highly polished exchanges with a lot of investment in security and infrastructure. They are also not run on windows servers.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
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June 30, 2014, 01:32:17 PM
 #5687

These are not analogous at all.  

Ok, how about this for comparable analogy for what VeriBit represents to crypto:

McDonalds drive-thru service.

Only, in this case, it's a drive-thru service where you get to keep your money, not in your analogue wallet, but in a digital interest-earning savings account and pay out only that which is needed for your purchase.


WARNING!!! Check your forum URLs carefully and avoid links to phishing sites like 'thebitcointalk' 'bitcointalk.to' and 'BitcointaLLk'
yourstruly
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June 30, 2014, 01:33:06 PM
 #5688

These are not analogous at all. 

Ok, how about this for comparable analogy for what VeriBit represents to crypto:

McDonalds drive-thru service.

Only, in this case, it's a drive-thru service where you get to keep your money, not in your analogue wallet, but in a digital interest-earning savings account and pay only that is needed for your purchase.



Its analogous to McDonalds in the sense that the pictures on the outside don't represent what is actually being fed to the people on the inside.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
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June 30, 2014, 01:33:19 PM
 #5689

I stand corrected, veribit and verisend are ran from a Windows server which is even more troublesome running Microsoft-IIS/8.0.

Could probably be explained by the fact that one of the devs is a programmer at Microsoft......
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June 30, 2014, 01:33:46 PM
 #5690

Your centralized services on vericoin.info are woefully insecure.

The debian 6 server running the site has not been hardened, you can login as root over ssh. There are many many more problems but I don't want to divulge too much as it could hurt a lot of people. The developer can send me a message if they want to talk about this in private.

Yea... ok. VeriBit/VeriSend are hosted on a Windows server.

They are not hosted on a windows server, that is not what I said. They are clearly hosted on debian running a legacy version of apache. I would be even more worried if they were actually on a windows server.

Edit: I'm not trying to spread FUD here, this is a very serious concern with how much money is being pumped into this economy. I'm worried about the alt-currency community more than the price of any individual coin. You can see that from my post history.

This is part of the reason I don't understand quite understand the hype around veribit.  People are saying it makes things so much easier, but does it really?  And at what cost?  The cost of security?  As far as I understand, all veribit does is exchange VRC for BTC, like any other altcoin can already do on any exchange.  Except, with veribit, we are trusting VRC's dev team to handle security on their centralized servers.  I am not saying VRC dev's are untrustworthy at all, but I do question whether they are qualified to keep these services secure.  As for me, I would far more trust services like Mintpal to securely hold and exchange my altcoins for BTC to then use and make purchases.

The VeriBit servers don't "hold" your coins for more than 5 minutes. After they receive them and get 4 confirms, they send you your BTC. So the user will never lose. If we have a security flaw (which we are getting audited right now), our pot of BTC could be lost. But I don't think that's a concern since the developer running the server works for the cloud computing division of one of the top software companies in the world... and knows his security.

Saying he works somewhere and saying he knows his security when this is obviously untrue makes me even more skeptical.

There is no reason root login should be enabled on the server, there is no reason password authentication should even be enabled. You should be logging in through keys. I shouldn't have to say this to someone who "knows their security".

Dude, you are embarrassing yourself.  It's obvious that you have a little bit of knowledge but not much.  

You're saying the website is hosted on a nix box that isn't secure.  He is saying the apps aren't hosted on that box, even if the Linux box isn't secure the services aren't even hosted on that machine.
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June 30, 2014, 01:34:28 PM
 #5691

I stand corrected, veribit and verisend are ran from a Windows server which is even more troublesome running Microsoft-IIS/8.0.

Could probably be explained by the fact that one of the devs is a programmer at Microsoft......

Are you saying this like that is a good thing? Because most programmers who know anything would be embarrassed to admit that.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
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June 30, 2014, 01:34:34 PM
 #5692

What's up
The hype is not over?
Why the price go up?
Verisend yes Veribit yes but what's coming now?


Hype? What's happening with VRC has not happened ever in Crypto...

If so, reply to this post and name the coin(s).

1. Veribit
2. Verisend
3. Buying BTC via VRC with USD (Soon with a Credit Card) - no more waiting on Coinbase for a week
4. Veribank
5. Awesome, respectable Dev team
6. PR Firm

What coins are you following? We are all ears...

1. All veribit does is exchange VRC for BTC, with a 1 btc cap.  ANY altcoin can currently be exchanged for BTC on ANY exchange, with NO cap.  Also, it is centralized and we are trusting vrc dev team to handle security... this is extremely sketchy.

2. Verisend is centralized and trusted (as opposed to decentralized and trustless).  Anyone using verisend can have no hope to remain anonymous.

3. Buying VRC with a credit card - this option will be provided by a 3rd party vendor that is NOT, I repeat, NOT VRC exclusive.  They will offer the same service for other altcoins.
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June 30, 2014, 01:34:40 PM
 #5693

Windows servers are exceptionally secure.  Linux has its perks but your average Joe will only run a Linux server for the 1 key point of free.  I manage enterprise windows servers for a living.  You set proper measures and your just as secure if not more secure then any linux box.   The ONLY thing a Linux server has over windows is stability over longevity of up time.

VRC Address: VBuHkaFhuUzWzhvyaHuyBv2ddDKVpDgwBF
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June 30, 2014, 01:35:31 PM
 #5694

Its analogous to McDonalds in the sense that the pictures on the outside don't represent what is actually being fed to the people on the inside.

. . . . .and there was the exact point your mask slipped.

Now you're just clearly FUDing.


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June 30, 2014, 01:36:00 PM
 #5695

I stand corrected, veribit and verisend are ran from a Windows server which is even more troublesome running Microsoft-IIS/8.0.

Could probably be explained by the fact that one of the devs is a programmer at Microsoft......

Are you saying this like that is a good thing? Because most programmers who know anything would be embarrassed to admit that.

No they wouldn't. Don't be so naive.
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June 30, 2014, 01:36:41 PM
 #5696

Your centralized services on vericoin.info are woefully insecure.

The debian 6 server running the site has not been hardened, you can login as root over ssh. There are many many more problems but I don't want to divulge too much as it could hurt a lot of people. The developer can send me a message if they want to talk about this in private.

Yea... ok. VeriBit/VeriSend are hosted on a Windows server.

They are not hosted on a windows server, that is not what I said. They are clearly hosted on debian running a legacy version of apache. I would be even more worried if they were actually on a windows server.

Edit: I'm not trying to spread FUD here, this is a very serious concern with how much money is being pumped into this economy. I'm worried about the alt-currency community more than the price of any individual coin. You can see that from my post history.

This is part of the reason I don't understand quite understand the hype around veribit.  People are saying it makes things so much easier, but does it really?  And at what cost?  The cost of security?  As far as I understand, all veribit does is exchange VRC for BTC, like any other altcoin can already do on any exchange.  Except, with veribit, we are trusting VRC's dev team to handle security on their centralized servers.  I am not saying VRC dev's are untrustworthy at all, but I do question whether they are qualified to keep these services secure.  As for me, I would far more trust services like Mintpal to securely hold and exchange my altcoins for BTC to then use and make purchases.

The VeriBit servers don't "hold" your coins for more than 5 minutes. After they receive them and get 4 confirms, they send you your BTC. So the user will never lose. If we have a security flaw (which we are getting audited right now), our pot of BTC could be lost. But I don't think that's a concern since the developer running the server works for the cloud computing division of one of the top software companies in the world... and knows his security.

Saying he works somewhere and saying he knows his security when this is obviously untrue makes me even more skeptical.

There is no reason root login should be enabled on the server, there is no reason password authentication should even be enabled. You should be logging in through keys. I shouldn't have to say this to someone who "knows their security".

Dude, you are embarrassing yourself.  It's obvious that you have a little bit of knowledge but not much.  

You're saying the website is hosted on a nix box that isn't secure.  He is saying the apps aren't hosted on that box, even if the Linux box isn't secure the services aren't even hosted on that machine.

You are right, the site hosting the wallets is run on an insecure unix box. The centralized anonymity services and exchange are ran on a insecure windows machine. I don't think I'm the one embarrassing myself. Anyone involved with this project should be embarrassed for running anonymity services on windows.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
ringsting
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June 30, 2014, 01:37:47 PM
 #5697

I stand corrected, veribit and verisend are ran from a Windows server which is even more troublesome running Microsoft-IIS/8.0.

Could probably be explained by the fact that one of the devs is a programmer at Microsoft......

Are you saying this like that is a good thing? Because most programmers who know anything would be embarrassed to admit that.

You do realise that Microsoft's enterprise solutions are extremely secure and scalable?  They do more than just i.e.

Please just stop typing, you're making me cringe.
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June 30, 2014, 01:38:29 PM
 #5698

Hi , im kinda new to the cryptocurrency world so forgive me if my question sounds really stupid .

I just downloaded the vericoin wallet and i have been testing it and faced an issue .

I managed to deposit 0,1 VRC from mintpal to my wallet with no issues at all . Then decided to enchrypt it using a passphrase .

Then i created another adress where i had to type my passphrase . Worked fine .

Today somehow my passphrase does not work , it says incorrect all the time . i assume i fucked it up when i wrote it down .

My wallet is blocked and i cant do anything with it .  I know i lost my 0,1 VTC , i dont really care .  What bothers me is that i dont see how i can create another wallet .

With bitcoin wallets like Multibit is so easy to create new wallets  but with the vericoin wallet i just dont know how can i do it .  I tried to uninstall and install the new wallet version but it will always show up the wallet is locked and lost i assume , since the passphrase does not match .  So what do i have to do in order to create a new wallet where i can send/recive my vericoins?

Can u guys help me out ?  

Thank you very much !

Make sure you go in and clean out that wallet.dat file. That is what holds all your sensative info that makes your wallet unique.

Try to check and clear out that file, and delete / redownload wallet. Report back to me if that doesn't work.


Very smart that you only did a test first. Many people would go for the entire balance and come here with a horror story. My own personal wallet is roughly the same, just 1 VeriCoin for testing Smiley


Thank you very much !

im going to try it out now . I will let you know .
yourstruly
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June 30, 2014, 01:38:48 PM
 #5699

I stand corrected, veribit and verisend are ran from a Windows server which is even more troublesome running Microsoft-IIS/8.0.

Could probably be explained by the fact that one of the devs is a programmer at Microsoft......

Are you saying this like that is a good thing? Because most programmers who know anything would be embarrassed to admit that.

No they wouldn't. Don't be so naive.

Are you serious? Windows is closed source (we here are an open source community), and often releases products to the market that fail horribly for months before they can manage to release patches to make it usable. It's recent track record has been only getting worse too.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
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June 30, 2014, 01:38:52 PM
 #5700

What's up
The hype is not over?
Why the price go up?
Verisend yes Veribit yes but what's coming now?


Hype? What's happening with VRC has not happened ever in Crypto...

If so, reply to this post and name the coin(s).

1. Veribit
2. Verisend
3. Buying BTC via VRC with USD (Soon with a Credit Card) - no more waiting on Coinbase for a week
4. Veribank
5. Awesome, respectable Dev team
6. PR Firm

What coins are you following? We are all ears...

VRC on coinbase?
What is Veribank?
I heard some rumors with Microsoft



The Cryptobank...
http://cointelegraph.com/news/111921/vericoin-to-open-cryptobank-pay-interest-to-users-

With Vericoin allowing you to purchase VRC via your wallet, in a sense you are able to buy BTC instantly. For the moment, you cannot do that anywhere, accept at an ATM (one of the few in the world) after giving a palm print, etc... Coinbase makes you  wait 1 week. Even the instant purchase via a credit card is not instant.

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