Bitcoin Forum
May 25, 2018, 10:10:33 AM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Poll
Question: Where would you prefer the VRC/VRM exchange pair be?
Bittrex
Poloniex
Both
Other

Pages: « 1 ... 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 [383] 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 ... 964 »
  Print  
Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1348516 times)
Profetu
Full Member
***
Offline Offline

Activity: 205
Merit: 100


View Profile
July 13, 2014, 04:37:01 PM
 #7641

Update from MintPal
13/07/2014 4:19 PM Announcements
Please read the entirety of this post.

A few hours ago we were unfortunately the subject of a successful attack against the exchange. Our investigations have shown that whilst our security was breached, VeriCoin was the target. We would like to stress that VeriCoin and the VeriCoin network has not been in any way compromised. We have worked to secure the exchange and the withdraw process from any further attack.

As it stands at the moment the following applies:

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

2) We are currently processing withdrawals for all other coins.

As I'm sure you will appreciate, our support channels will most likely be very busy over the coming hours/days so please bear with us.

We would like to personally extend our thanks to the VeriCoin developers and the other exchanges who have pulled out all of the stops to ensure that your VRC funds are safe.


WHAT??

No. I'm sorry. No. Their security is breached and they are going to hard fork the coin to cover their asses?

Wow. That's... Wow. I had nothing but praise for mintpal before, but this is stunning.

I admit I haven't read past the post I just quoted, but it shocked me enough I had to post this. That's the most absurd thing I have ever heard.

Either that or let the coin die.

Also if they caught it within minutes (even hours) is stupid not to rollback.

Mintpal will pay whatever "damage" was taken in between.
1527243033
Hero Member
*
Offline Offline

Posts: 1527243033

View Profile Personal Message (Offline)

Ignore
1527243033
Reply with quote  #2

1527243033
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1527243033
Hero Member
*
Offline Offline

Posts: 1527243033

View Profile Personal Message (Offline)

Ignore
1527243033
Reply with quote  #2

1527243033
Report to moderator
arieq
Sr. Member
****
Offline Offline

Activity: 364
Merit: 254


View Profile
July 13, 2014, 04:37:04 PM
 #7642

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 ?

pnosker
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


View Profile
July 13, 2014, 04:38:12 PM
 #7643

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...


51% of staking coins is all that is necessary to attack. Not 51% of all coins.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
unamis76
Legendary
*
Offline Offline

Activity: 1386
Merit: 1000


View Profile
July 13, 2014, 04:39:09 PM
 #7644

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?
cryptodevil
Legendary
*
Offline Offline

Activity: 1456
Merit: 1052


Thread-puller extraordinaire


View Profile
July 13, 2014, 04:39:43 PM
 #7645

The MtGox situation was, allegedly, a theft that occurred over many months, there would have been no way to hard fork to recover the funds and, let's be honest, we've yet to see evidence that what Karpeles claims happened is actually the case anyway.

According to Mintpal this attack happened a few hours ago and because VRC is still in its relative infancy it is feasible for hard fork to stop the thieves getting away with the coins.

It's not great, but it is a fix and one that had to be done. It is not a weakness in VRC, it is an issue with Mintpal.


Localbitcoins user accounts are being bought, be extremely cautious, even with previously good traders!
sdmathis
Hero Member
*****
Offline Offline

Activity: 546
Merit: 500


AKA The Rubber Monkey


View Profile
July 13, 2014, 04:40:14 PM
 #7646

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.

noerc
Sr. Member
****
Offline Offline

Activity: 248
Merit: 250


View Profile
July 13, 2014, 04:40:29 PM
 #7647

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.
yourstruly
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250


thrasher.


View Profile WWW
July 13, 2014, 04:40:55 PM
 #7648

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.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
jtbcoins
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250



View Profile
July 13, 2014, 04:42:07 PM
 #7649

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

                 ▄▄██████████████▄▄
             ▄███████████████████████▄
           █████████████████████████████
         ███▀▀█████▀▀ ██  ██  ▀▀██████████
        ██▀ ▄  ▀      ██  ██      ▀█████████
       █▀ ▄██▀        ██  ██        █████████
      ▀ ▄███▌      ███████████▄▄  ▄███████████
      ▄████▌        ▀██████████████████████████
    ▄██████     ██▄   ▀███████████████████████████▀
  ▄████████    █████▄▄  ▀███████████████████████▀
▄██████████    ████████▄  ▀███████████████████▀
    ███████    ██████████▄   ▀██████████████▀ ▄█
    ███████    ████████████▄▄  ▀██████████▀ ▄███
    ███████▌    ██████████████▄  ▀██████▀ ▄████
     ███████      ██████████████▄  ▀██▀ ▄██████
      ███████▄      ▀██████████▀      ████████
       ████████       ██  ██        █████████
        █████████▄    ██  ██     ▄██████████
          ██████████▄▄██▄▄██▄▄▄███████████
            ████████████████████████████
              ▀██████████████████████▀
                  ▀▀████████████▀▀
                   

LocalCoinSwap
   World's Most Inclusive 
         Cryptocurrency Marketplace
[]
██████████████
█████████████████
██░░░░░████████████
██░░░░░██████████████
█████████████████████
██░░░░░░░░░░░░░░░░░██
█████████████████████
██░░░░░░░░░░░░░░░░░██
█████████████████████
██░░░░░░░░░░░░░░░░░██
█████████████████████
█████████████████████
TELEGRAM
TWITTER
FACEBOOK
REDDIT
INSTAGRAM
MEDIUM
LINKED IN
STEEMIT
yourstruly
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250


thrasher.


View Profile WWW
July 13, 2014, 04:42:12 PM
 #7650

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.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
socal
Hero Member
*****
Offline Offline

Activity: 518
Merit: 500


View Profile
July 13, 2014, 04:42:37 PM
 #7651

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!!!!!
socal
Hero Member
*****
Offline Offline

Activity: 518
Merit: 500


View Profile
July 13, 2014, 04:44:46 PM
 #7652

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.
sdmathis
Hero Member
*****
Offline Offline

Activity: 546
Merit: 500


AKA The Rubber Monkey


View Profile
July 13, 2014, 04:44:55 PM
 #7653

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.

yourstruly
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250


thrasher.


View Profile WWW
July 13, 2014, 04:45:04 PM
 #7654

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.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
yourstruly
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250


thrasher.


View Profile WWW
July 13, 2014, 04:46:20 PM
 #7655

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.

Excoin - Innovative Cryptocurrency Exchange - https://exco.in
Subtuppel
Hero Member
*****
Offline Offline

Activity: 700
Merit: 500



View Profile
July 13, 2014, 04:49:28 PM
 #7656

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

kpierce77
Legendary
*
Offline Offline

Activity: 1204
Merit: 1002



View Profile
July 13, 2014, 04:50:58 PM
 #7657

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.

.Ambit.    ██
██  ██
██  ██
██  ██
██  ██
██  ██
██  ██
██  ██
██  ██
██  ██
██  █████
██
████████████
   Become part of the mining family   
✔ SECURED  │ WHITEPAPER │  ★ 171% ROI
██   
██  ██
██  ██
██  ██
██  ██
██  ██
██  ██
██  ██
██  ██
██  ██
█████  ██
██
████████████
cryptodevil
Legendary
*
Offline Offline

Activity: 1456
Merit: 1052


Thread-puller extraordinaire


View Profile
July 13, 2014, 04:53:37 PM
 #7658

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.


Localbitcoins user accounts are being bought, be extremely cautious, even with previously good traders!
sluppy
Legendary
*
Offline Offline

Activity: 1442
Merit: 1029



View Profile
July 13, 2014, 04:53:45 PM
 #7659

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 ?



The only thing necessary for the triumph of evil is for good men to do nothing. Edmund Burke -- May the forces of evil become confused on the way to your house.George Carlin
We pay for life with death , so everything in between should be free. Bill Hicks -- It is during our darkest moments that we must focus to see the light. Aristotle
Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment. Buddha -- The only true wisdom is in knowing you know nothing. Socrates
unamis76
Legendary
*
Offline Offline

Activity: 1386
Merit: 1000


View Profile
July 13, 2014, 04:54:48 PM
 #7660

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.
Pages: « 1 ... 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 [383] 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 ... 964 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!