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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1349954 times)
noerc
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July 13, 2014, 04:40:29 PM
 #7641

You all can FUD about this all you want, I don't care.

Assuming the devs successfully defend the integrity of VRC with this, then there will be no question as to the long term success of VeriCoin. And on that note, once the exchanges are back all up and running on the same page, I'm going on a buying spree.

You'll think 40k was cheap by the time this is done.

Stupid price talk, this is why people consider these projects here as ponzi schemes ... what happens here is a technical and philosophical issue. Nobody puts in question that pnosker and the others are great developers and good people. I would also assume that they have good motivations with this roll back move. But it will be in the history of VRC, forever. Something like this is was credit cards do, on a daily basis, and nobody cares because they are centralized.

But if one guy can trigger the roll back of a blockchain because there is a transaction that some other guy doesn't like, then this is a serious problem. I am confident that Patrick didn't think about that for 5 minutes only, so he will have good reasons to do it and, besides some people here, he has a very good understanding what consequences this has and might have.
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yourstruly
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July 13, 2014, 04:40:55 PM
 #7642

Too bad about the hack.  But a rollback will do nothing but cause a loss of faith in this coin.

If the developers can start a rollback, then the blockchain's history is obviously worth nothing...

Dead coin now.  Too bad, so sad.

I believe that this can be summed up as.....NOT.

Is Bitcoin dead because of Mt Gox? It was an exchange. The exchange was weak. Bitcoin was solid. Take note!

The main difference being that Bitcoin did not try to roll back the blockchain to avoid the damage, they took it and moved on.

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July 13, 2014, 04:42:07 PM
 #7643

Vericoin was probably targeted because it can be spent where bitcoin is accepted. Well thats what twitter is talking about. Free advertising Smiley

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July 13, 2014, 04:42:12 PM
 #7644

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.

you need to think a bit more:

not only the "robber" is punished, but everyone else who bought coins for BTC/FIAT between the hack/whatever and the time of the rollback, and everybody who sold will still have their coins +  BTC/FIAT.
If you call that a good situation you should not be allowed to handle money at all.

This is without a question a terrible solution, and should not be done.

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July 13, 2014, 04:42:37 PM
 #7645

LOLOLOL All you dumb FUDsters and Panic Sellers are gonna feed me TONS of cheap VRC as soon as the exchanges unfreeze, I think I may retire with the amount of VRC I'll be able to snatch up, oh and THINK for a min if the hackers targeted VRC there was a REASON, either 1) They know VRC is solid and is going places, 2) They are associated with some other bullshit coin and terrified of VRC and trying to crash it (but the wont) or 3) All of the above.  All I can say to the hackers is haha you stupid bastard nice try better luck next time. and to everyone else TRY NOT TO DUMP HODL AND PRICE WILL REMAIN STABLE DUR DUR DUR I FOR ONE WILL BE BUYING THE HELL OUTTA VRC ONCE ABLE TO!!!!!
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July 13, 2014, 04:44:46 PM
 #7646

Too bad about the hack.  But a rollback will do nothing but cause a loss of faith in this coin.

If the developers can start a rollback, then the blockchain's history is obviously worth nothing...

Dead coin now.  Too bad, so sad.

I believe that this can be summed up as.....NOT.

Is Bitcoin dead because of Mt Gox? It was an exchange. The exchange was weak. Bitcoin was solid. Take note!

The main difference being that Bitcoin did not try to roll back the blockchain to avoid the damage, they took it and moved on.


Are you really that fucking stupid? Bitcoin didn't have as many coins jacked as VRC did, seriously all your fucktarded efforts to FUD are getting annoying and nobody here gives a flying fuck about what you have to say because you constantly just talk shit.
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July 13, 2014, 04:44:55 PM
 #7647

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.

you need to think a bit more:

not only the "robber" is punished, but everyone else who bought coins for BTC/FIAT between the hack/whatever and the time of the rollback, and everybody who sold will still have their coins +  BTC/FIAT.
If you call that a good situation you should not be allowed to handle money at all.

This is without a question a terrible solution, and should not be done.

There are no good solutions. The devs had to choose the lesser of two evils.

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July 13, 2014, 04:45:04 PM
 #7648

Vericoin was probably targeted because it can be spent where bitcoin is accepted. Well thats what twitter is talking about. Free advertising Smiley

Then why not target BTC directly? Also there are many other coins that can be spent where BTC is spent, using Holy Transaction or BcBit or a ton of other services.

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yourstruly
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July 13, 2014, 04:46:20 PM
 #7649

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.

you need to think a bit more:

not only the "robber" is punished, but everyone else who bought coins for BTC/FIAT between the hack/whatever and the time of the rollback, and everybody who sold will still have their coins +  BTC/FIAT.
If you call that a good situation you should not be allowed to handle money at all.

This is without a question a terrible solution, and should not be done.

There are no good solutions. The devs had to choose the lesser of two evils.

No they picked the worse of two evils, they just proved this coin is completely centralized crypto and it will screw over countless innocent people.

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Subtuppel
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July 13, 2014, 04:49:28 PM
 #7650

Vericoin was probably targeted because it can be spent where bitcoin is accepted. Well thats what twitter is talking about. Free advertising Smiley
Vericoin was targeted because no other coin with some volume has that many coins at exchanges, percentage wise.
Which actually shows (together with the few active full nodes) that no one wants to hold VRC or even use fancy wallet and stuff, its all about short term speculation Tongue

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July 13, 2014, 04:50:58 PM
 #7651

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.

Not sure it'll necessarily be dumped though.  I mean this was really an attack on Mintpal and Mintpal's fault (for now anyway), and not the fault of the coin itself as far as any vulnerability that we know of.

















































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July 13, 2014, 04:53:37 PM
 #7652

No they picked the worse of two evils, they just proved this coin is completely centralized crypto and it will screw over countless innocent people.

How do you figure that a theft of VRC from an exchange is evidence of VRC being centralised? It was stolen from an exchange, not from a VRC services.

VRC is still a decentralised currency. If this had occurred from a service provided by VRC then you'd have a point but it is nothing to do with VRC and everything to do with, again, trading-exchange weaknesses.


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July 13, 2014, 04:53:45 PM
 #7653

The hacker must not of wanted my coins ON mintpal cuz there still there, i feel left out

Leave em there till the dust settles, and a fork is created. any coin movement from after the attack untíl the client update will be erased.

I got some coins in limbo sent to mintpal got comfirmations but never appeared what should i do ?



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July 13, 2014, 04:54:48 PM
 #7654

So looks like BTC and LTC was also attempted on the mp security flaw.  Anyone confirm  that yet?

Pat confirmed it a little while ago.

Confirmation must come from those who manage these funds (announcement on Mintpal website, or announcement from someone of their staff). Did I miss any piece of news from them?

You don't think that the devs are in contact with Mintpal? Pat's word is good enough.

Dev's are obviously in contact with exchanges: otherwise this situation wouldn't have been handled so nicely and so quickly. The thing here is Mintpal only talked about VRC being hacked, and they mentioned that the target was only VRC. A Dev saying that not only VRC was the target is a pretty big deal, and things get really serious when these targets are BTC and LTC. More news clarifying this situation are needed ASAP.
Seldar
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July 13, 2014, 04:55:13 PM
 #7655

So, shouldn't everyone dump their VRC to BTC now? Then wouldn't they get all their previously sold coins back after the fork?

And the buyers will lose both their BTC and vericoin after the fork, it's cool, isnt it ?

yep, that's my case I think...

Sorry for my bad english Smiley
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July 13, 2014, 04:55:17 PM
 #7656

this hard fork wouldn't be happening without coordination/centralisation.  

are we really ready yet for fully decentralised digital currency?

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July 13, 2014, 04:57:01 PM
 #7657

It's a lose the most - lose the lesser scenario, if the devs won't rollback the coins stolen then the thief will have 1/3 of the coin supply and be essentially god of vericoins which will make people lose trust to the coin being controlled by a thief and eventually kill the coin. They did rollback and probably some small transactions are affected but won't kill the coin that quick, it is up to these guys to do the right thing and follow the original transaction. Though this is mintpal's fault to be honest.

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July 13, 2014, 04:58:25 PM
 #7658

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.

you need to think a bit more:

not only the "robber" is punished, but everyone else who bought coins for BTC/FIAT between the hack/whatever and the time of the rollback, and everybody who sold will still have their coins +  BTC/FIAT.
If you call that a good situation you should not be allowed to handle money at all.

This is without a question a terrible solution, and should not be done.

There are no good solutions. The devs had to choose the lesser of two evils.

No they picked the worse of two evils, they just proved this coin is completely centralized crypto and it will screw over countless innocent people.

After extensive review of your posts, I have come to the conclusion that you quite literally do not know the meaning of 'centralized'. Please stop posting, as the effort you are expending to type is wasting my perfectly good oxygen.

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July 13, 2014, 04:58:46 PM
 #7659

 are we really ready yet for fully decentralised digital currency?
The average criminal and hacker is. Grin

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July 13, 2014, 05:01:29 PM
 #7660

Why are people blaming Vericoin for this? This is 100% Mintpals fault. What really pisses me off is the Vericoin Devs have to fork to save the coin because clearly Mintpal will not cover the losses. FUCK MINTPAL.
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