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Question: Where would you prefer the VRC/VRM exchange pair be?
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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1349972 times)
DARKANGEL6415
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July 13, 2014, 04:06:33 PM
 #7601

Can any dev answer why mp would only have an issue with vrc and the attackers did not take btc or higher valued coins?  If what mp said was true and only vrc was hit, but had nothing to do with vrc?

Just looking for an answer, if there is a good explanation, then great! would instill confidence!

they most likely went after VRC cause they know how to spot a diamond in the rough  

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RJF
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July 13, 2014, 04:10:54 PM
 #7602

People should take note of this. Not because of the hack, but because of the immediate step-up of the developers to defend the integrity of the coin.

Ladies and gentlemen, I do believe the bar has effectively been raised.

Agreed! This is not a fault in Vericoin yet the Devs moved quickly to minimize the damage to MintPal and folks who had their coin there. This shows their commitment to VRC and I, for one, applaud that!

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SeDz
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July 13, 2014, 04:13:42 PM
 #7603

unfortunately it will be dumped when it return.. i just want it can recovery fast

Jeff Jefferson
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July 13, 2014, 04:14:42 PM
 #7604

so what are we supposed to do? update the wallet? backup the wallet?
buy4crypto
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July 13, 2014, 04:15:05 PM
 #7605

Can any dev answer why mp would only have an issue with vrc and the attackers did not take btc or higher valued coins?  If what mp said was true and only vrc was hit, but had nothing to do with vrc?

Just looking for an answer, if there is a good explanation, then great! would instill confidence!


I am guessing the devs don't have time right now to come to this forum, please be patient.

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Mountaineeer
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July 13, 2014, 04:15:42 PM
 #7606

how do they manage to take off with all the VRC when it requires 2FA to even proccess the withdrawl request... ?  this sounds to me like the Private keys for the hot wallet were exposed.. somewhow.. which is scary to consider.

inside job?
XbladeX
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July 13, 2014, 04:15:52 PM
 #7607

People should take note of this. Not because of the hack, but because of the immediate step-up of the developers to defend the integrity of the coin.

Ladies and gentlemen, I do believe the bar has effectively been raised.

+10
But thing about it widely:

1) Conclusion is that VRC is valuable to 8m /27 *100%  = 30% attacks...not 51%

2) Big hit into decentralization image of VRC "rolbacks" - shows that crypto is not decentralized coin...
So fork BTC before MtGox that way...

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RaggedClown
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July 13, 2014, 04:16:12 PM
 #7608

unfortunately it will be dumped when it return.. i just want it can recovery fast

Maybe, but everyone likes something that spreads well. No matter what you choose that thing to be.
bitc0000
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July 13, 2014, 04:16:20 PM
 #7609

Wow, 8 million coins stolen. That's like almost 1/3 of the entire coin supply and will definitely kill the coin if you just let the thief get away and dump all of those not to mention lose user trust and respect that you guys have been building up all these days. I hope you guys acted fast enough and there's not a lot of damage done and that dump on cryptsy was not the thief cashing out into bitcoins...

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July 13, 2014, 04:16:49 PM
 #7610

Great response from the Devs!
+10 Trust
buy4crypto
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July 13, 2014, 04:17:08 PM
 #7611

so what are we supposed to do? update the wallet? backup the wallet?

We will have instructions soon.

Someone wants to cause VRC problems due to the fact its not just some other shit coin, but a real coin, with real, capable developers.

We the community take on the responsibility of Mintpals lack of common sense. So the smart people will be buying this dip, seeing the actions of the developers, dedicated and quick to take action. While some people panic sell, in the end, the person who hacked gets what they want for a short period of time, once cool heads prevail and the team gets it straight I wouldn't be suprised to see large demand.

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buy4crypto
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July 13, 2014, 04:18:32 PM
 #7612

People should take note of this. Not because of the hack, but because of the immediate step-up of the developers to defend the integrity of the coin.

Ladies and gentlemen, I do believe the bar has effectively been raised.

+10
But thing about it widely:

1) Conclusion is that VRC is valuable to 8m /27 *100%  = 30% attacks...not 51%

2) Big hit into decentralization image of VRC "rolbacks" - shows that crypto is not decentralized coin...
So fork BTC before MtGox that way...


Are you mad that the developers of VRC took the proper action, while bitcoin let there community lose?

VeriCoin will take the lead in due time. Its got to many people that care.

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July 13, 2014, 04:18:57 PM
 #7613

Wait, a hard fork because an exchange was hacked? I hope you spend some time making this decision, because if the devs simply hard fork to reset the blockchain to a state that they prefer the trust in this decentralized currency will suffer from that.

Note that Gox could have been solved the very same way, but there was no hard fork of BTC, and that had a reason.

But good for Mintpal, nice to hear that these poor guys don't have too much losses  Huh
buy4crypto
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July 13, 2014, 04:20:06 PM
 #7614

Wait, a hard fork because an exchange was hacked? I hope you spend some time making this decision, because if the devs simply hard fork to reset the blockchain to a state that they prefer the trust in this decentralized currency will suffer from that.

Note that Gox could have been solved the very same way, but there was no hard fork of BTC, and that had a reason.

But good for Mintpal, nice to hear that these poor guys don't have too much losses  Huh

Do you want a thief with 30% of coins unloading on your community, I imagine that the bitcoin loss, though monetarily more, it was not as big of a % of the total network.

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July 13, 2014, 04:20:13 PM
 #7615

People should take note of this. Not because of the hack, but because of the immediate step-up of the developers to defend the integrity of the coin.

Ladies and gentlemen, I do believe the bar has effectively been raised.

+10
But thing about it widely:

1) Conclusion is that VRC is valuable to 8m /27 *100%  = 30% attacks...not 51%

2) Big hit into decentralization image of VRC "rolbacks" - shows that crypto is not decentralized coin...
So fork BTC before MtGox that way...


Are you mad that the developers of VRC took the proper action, while bitcoin let there community lose?

VeriCoin will take the lead in due time. Its got to many people that care.

soooo wait... i just bought a car with vericoins... and so i got the car... and so now the network will be rolled back to a date prior to me buying the car?  so now i have the car and all my vericoins back?  so now I can buy another car..... .sweet.
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July 13, 2014, 04:20:49 PM
 #7616

Wait, a hard fork because an exchange was hacked? I hope you spend some time making this decision, because if the devs simply hard fork to reset the blockchain to a state that they prefer the trust in this decentralized currency will suffer from that.

Note that Gox could have been solved the very same way, but there was no hard fork of BTC, and that had a reason.

But good for Mintpal, nice to hear that these poor guys don't have too much losses  Huh
Actually It's not sure that mtgox was attacked by a hacker.
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July 13, 2014, 04:21:02 PM
 #7617

Are the people involved in the hack going to show up on this forum to cause FUD? I don't doubt it.

Someone hates VRC, because it is going to be big. I hope you all realize this. They didn't attack blackcoin, or those other coins that claim superiority, they attacked the coin with a future.

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July 13, 2014, 04:21:06 PM
 #7618

I personally am very excited by this. I know this may be a scary time for the people who currently have VRC missing, but think of the precedent this is setting!

Never in the history of money has there been the ability to just "Rollback" to a point prior to a theft. This is like if bank robbers got away with 2 million dollars, and the next day the money was back in their vault, while the robbers are now magically holding worthless monopoly money.

This really has the potential to change the way that the world sees crypto - it is a tangible benefit that fiat money will never be able to provide. If it goes off smoothly I have no doubt we'll see this in Forbes at the minimum, since they already are fairly crypto-friendly.
FryguyUK
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July 13, 2014, 04:23:18 PM
 #7619

Wait, a hard fork because an exchange was hacked? I hope you spend some time making this decision, because if the devs simply hard fork to reset the blockchain to a state that they prefer the trust in this decentralized currency will suffer from that.

Note that Gox could have been solved the very same way, but there was no hard fork of BTC, and that had a reason.

But good for Mintpal, nice to hear that these poor guys don't have too much losses  Huh

They couldn't react anywhere near fast enough for gox and considering the scale of which BTC was used at the time the rollback was probably too far buried. Just my theory here, but 100s of thousands of bitcoin could have been sent in between places while mtgox went under, meaning a roll back gains the exchanges money back but kills others BTC globally in the meantime?

Anyways I love the quick response, very solid. I think I'm starting to get a gut feeling about who is truly the mule behind this coin but it's probably wishful thinking.
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July 13, 2014, 04:23:42 PM
 #7620

Notice that the hacker dint go for darkcoin or uno lol.
I had a feeling VRC was gonna be huge but now im sure of it Smiley
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