[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released

[buy4crypto]

As much as I've been a supporter of VeriCoin... a fork to roll back the blockchain is a very tough pill to swallow. Have to say I'm with dadams.

At this early stage, 2 months into a crypto, you think its so devastating?

You dont think the media picks this up as a better alternative to a gox style blow out? You dont think this will attract the people VeriCoin is going for?



This could be the biggest FUD turned pot of GOLD if they get this right. The dev team spent all day making the fix, I bet you it shows the quality of our team at work.

I wonder how many people offered support to the devs and how many came to FUD the community.

Its very telling what crypto has become, instead of bringing in new markets, everyone has a laser focus on taking down the competition. Wake up people, crypto needs more investors and people in the ecosystem.

How many times have you heard of mt gox. How many times do you think you will hear about VeriCoin, and to the outside world, not comprised of coders and computer nerds... They will start coming to vericoin over bitcoin as they will see vericoin as the SAFE alternative to bitcoin and being goxed.

[buy4crypto]

You are exposing the logic of a thieves´ mind here. By punishing victims and encouraging fraud we will get a better system? really?

And again, your usage of the word centralized is completely stupid. In that regard everything would be centralized. Maybe you have been exposed to to many buzzword feeds.

Centralization to me means the conglomeration of power into a single entity or geographic location.
In my opinion this applies to how trading in Vericoin was centered around Mintpal.
Hence centralization and a single point of failure.

The alternative being decentralization. The epitome of which: peer to peer trading and no middlemen or exchanges.

Thieves will always exploit exploitable systems.
If you protect exploitable systems you protect the thieves.

This makes no sense. How is this solution protecting thieves? they lost 2 million dollars in ill gotten gains, nothing about the thieves was protected, furthermore I hope they take action to prosecute the responsible party, or parties.

[eiskalt]

You are exposing the logic of a thieves´ mind here. By punishing victims and encouraging fraud we will get a better system? really?

And again, your usage of the word centralized is completely stupid. In that regard everything would be centralized. Maybe you have been exposed to to many buzzword feeds.

Centralization to me means the conglomeration of power into a single entity or geographic location.
In my opinion this applies to how trading in Vericoin was centered around Mintpal.
Hence centralization and a single point of failure.

The alternative being decentralization. The epitome of which: peer to peer trading and no middlemen or exchanges.

Thieves will always exploit exploitable systems.
If you protect exploitable systems you protect the thieves.

Exactly and by hardforking the system shows, that it cannot be exploited.
The system of laissez-faire, that you are dreaming of will always be exploited - even if you meet your peers on the street to exchange some coins, what will you do, if they bring a knife to trade with you?

[Dadams]

All hail the protection of the middlemen.
God protect our bankers.
God protect our exchangers and money lenders.
God protect our daytraders and manipulators.

Without them you would have what exactly? A digital coin that only has your own personal value? Great idea!

A digital coin with my personal value and the personal value of other people like me?
Without banks? A coin that I can use to trade with anyone without paying homage or fees to middlemen?
Are you mocking me for this?

Because yes.. that is my desire and my dream.
Why are you here?

[socal]

I just want to know why they targeted only VRC...

Because it is an easy target... if you own 4.5 million coins. Or, in the immortal words of Gordon Gekko, because "it can be done, damnit!". A 51% attack is a guaranteed success. The Black Hand owns 4.5 million VRC.

Quite simple, really.

Iconic Expert stay the fuck outta this thread you lying sack of shit I wouldn't be surprised if you had something to do with the hack

[buy4crypto]

All hail the protection of the middlemen.
God protect our bankers.
God protect our exchangers and money lenders.
God protect our daytraders and manipulators.

Without them you would have what exactly? A digital coin that only has your own personal value? Great idea!

A digital coin with my personal value and the personal value of other people like me?
Without banks? A coin that I can use to trade with anyone without paying homage or fees to middlemen?
Are you mocking me for this?

Because yes.. that is my desire and my dream.
Why are you here?

what happens if the power is turned out, everyone is on even playing field again?

I think this hybrid system offers the most security.

Fiat and crypto combined is heaven, 1 or the other makes no sense.

Use them both, each has a benefit. in conjunction they are great, alone they each have to many vulnerabilities

[videos4btc]

vericoin lol

[kpierce77]

Um ya... I'm with Dadams.  I'm glad that they're going to rollback so that people don't lose their coins, however now you've just set the precedence that you can keep your coins on an exchange, with no protection or insurance, and if the exchange gets hacked and you lose your coins, eh... no big deal.  We'll just rollback.  Now you have a central regulating authority deciding that, which by the way goes against the principles and ideology of what crypto currency is in the first place.  Make Mintpal accountable for this attack.  It was their system that wasn't secure in the first place.  Hard fork the coin, and make Mintpal be the example for all exchanges that if they're going to be in business, they need to tighten up their security, plain and simple.  Mintpal somehow then has to reimburse all coin holders who lost their coins.  Yes it would probably bankrupt them, and they probably wouldn't survive.  I don't think I'm being callous.  If people want a system of protection, then put your money in a bank.  A bank's insured, in the states, by the U.S. Treasury via the FDIC.  Or, keep your coins in your wallet, leave them there for staking, and backup your wallet with multiple backups to different locations.  I'm sorry, but you assume the risk if you keep your coins on exchanges.

[mrkavasaki]

this is how vericoin inverstors looks like now

 

[mushroomfour9]

I  have vrc  on mintpal, what will happen if vrc  does a hardfork?

[Dadams]

Exactly and by hardforking the system shows, that it cannot be exploited.
The system of laissez-faire, that you are dreaming of will always be exploited - even if you meet your peers on the street to exchange some coins, what will you do, if they bring a knife to trade with you?

It shows that there are no consequences for the people that made this possible.
Which is why it will happen again.
Mintpal will carry on.
People will still daytrade and leave massive amounts of coin on exchanges.
No solution will be sought because look "we solved the problem.. all you need is a fork!"
The thieves have not lost anything. They did not have anything to start with.

Forking is not the solution. It is a a bandaid on cancer.
It is scooping out water from a sinking ship instead of fixing the hole in the hull.

P.S buy4crypto: if you believe fiat is necessary for the future, then I think we will have to agree to disagree

[buy4crypto]

this is how vericoin inverstors looks like now

 

On the contrary, after the weak hand day flippers are out and the fudders go, this coin will continue to grow. When you want quality in a dev team, innovation and support, you will buy vericoins.

When you want a PnD, you will go with whatever next flavor of the month they put out tomorrow to pump n dump.

[buy4crypto]

Exactly and by hardforking the system shows, that it cannot be exploited.
The system of laissez-faire, that you are dreaming of will always be exploited - even if you meet your peers on the street to exchange some coins, what will you do, if they bring a knife to trade with you?

It shows that there are no consequences for the people that made this possible.
Which is why it will happen again.
Mintpal will carry on.
People will still daytrade and leave massive amounts of coin on exchanges.
No solution will be sought because look "we solved the problem.. all you need is a fork!"
The thieves have not lost anything. They did not have anything to start with.

Forking is not the solution. It is a a bandaid on cancer.
It is scooping out water from a sinking ship instead of fixing the hole in the hull.

P.S buy4crypto: if you believe fiat is necessary for the future, then I think we will have to agree to disagree

I think having all money tied to the power grid is scarier than centralized currencies.

1 comet comes and knocks the grid offline, how many 51% attacks you think could occur?

I prefer having a system where you have the ability to use both.

Im not talking today, or tomorrow, but if its the future, it would happen at some point. Surely a pure online currency reliant on a power grid system of trade is not the way.

[CryptoJohn]

Lots of great points expressed thus far.

I personally congratulate Vericoin devs for making an educated decision in a timely fashion.

We've seen time and time again devs disappear when trouble arises for their coin. Not the case with Vericoin devs.

Vericoin devs stepped up and successfully implemented their solution. Whether you agree or not you understand this as a lesson to help prevent this from occurring in the future.

Mintpal...ugh.

[kpierce77]

Lots of great points expressed thus far.

I personally congratulate Vericoin devs for making an educated decision in a timely fashion.

We've seen time and time again devs disappear when trouble arises for their coin. Not the case with Vericoin devs.

Vericoin devs stepped up and successfully implemented their solution. Whether you agree or not you understand this as a lesson to help prevent this from occurring in the future.

Mintpal...ugh.

Ya I applaud Vericoin devs as well for being so quick with this.  Just goes to show how capable and amazing they really are.

[GridWorker]

All hail the protection of the middlemen.
God protect our bankers.
God protect our exchangers and money lenders.
God protect our daytraders and manipulators.

Without them you would have what exactly? A digital coin that only has your own personal value? Great idea!

A digital coin with my personal value and the personal value of other people like me?
Without banks? A coin that I can use to trade with anyone without paying homage or fees to middlemen?
Are you mocking me for this?

Because yes.. that is my desire and my dream.
Why are you here?

I am here to mock your concept of trading cards as currency. That is what it amounts to.

[leckey]

As much as I've been a supporter of VeriCoin... a fork to roll back the blockchain is a very tough pill to swallow. Have to say I'm with dadams.

At this early stage, 2 months into a crypto, you think its so devastating?

You dont think the media picks this up as a better alternative to a gox style blow out? You dont think this will attract the people VeriCoin is going for?

This could be the biggest FUD turned pot of GOLD if they get this right. The dev team spent all day making the fix, I bet you it shows the quality of our team at work.

I wonder how many people offered support to the devs and how many came to FUD the community.

Its very telling what crypto has become, instead of bringing in new markets, everyone has a laser focus on taking down the competition. Wake up people, crypto needs more investors and people in the ecosystem.

How many times have you heard of mt gox. How many times do you think you will hear about VeriCoin, and to the outside world, not comprised of coders and computer nerds... They will start coming to vericoin over bitcoin as they will see vericoin as the SAFE alternative to bitcoin and being goxed.

Let me put this out there. I don't give a shit what the media thinks. I don't give a shit if coinx or coiny did it before. If you think I'm fudding, you're mistaken.

I care purely because of the reasons I got into crypto in the first place. For a decentralised system.

I don't blame the devs for taking this decision, because I can see the logic in it - and I recognise they're under huge amounts of pressure. But I can't pretend to be thrilled about it.

Ultimately yes it's Mintpal's fault. But do you know else I blame? You. All of you. The number one rule in bitcoin: "DON'T KEEP YOUR COINS ON AN EXCHANGE". This doubly applies to PoS coins because having them staking in your wallet secures the network. So. If you held your coins on MintPal. YOU'RE TO BLAME FOR TRUSTING A CENTRALISED AUTHORITY.

In short, I am disappointed with the rollback of the blockchain - very disappointed. But I do accept that the devs have taken action to solve a very tricky problem. Whether or not I agree with it being the right way of doing things, is irrelevant. This is all very bitter-sweet for me at the moment.

And another thing. Stop saying "vericoin investors". Call me a user. Not an investor.

[buy4crypto]

Love it, this was posted by patrick on twitter. About the 184 billion bitcoins created.

Bitcoin is doing okay today huh? THEY ONLY GO AFTER THE BEST

https://bitcointalk.org/index.php?topic=687488.0

[Dadams]

Exactly and by hardforking the system shows, that it cannot be exploited.
The system of laissez-faire, that you are dreaming of will always be exploited - even if you meet your peers on the street to exchange some coins, what will you do, if they bring a knife to trade with you?

It shows that there are no consequences for the people that made this possible.
Which is why it will happen again.
Mintpal will carry on.
People will still daytrade and leave massive amounts of coin on exchanges.
No solution will be sought because look "we solved the problem.. all you need is a fork!"
The thieves have not lost anything. They did not have anything to start with.

Forking is not the solution. It is a a bandaid on cancer.
It is scooping out water from a sinking ship instead of fixing the hole in the hull.

P.S buy4crypto: if you believe fiat is necessary for the future, then I think we will have to agree to disagree

I think having all money tied to the power grid is scarier than centralized currencies.

1 comet comes and knocks the grid offline, how many 51% attacks you think could occur?

I prefer having a system where you have the ability to use both.

Im not talking today, or tomorrow, but if its the future, it would happen at some point. Surely a pure online currency reliant on a power grid system of trade is not the way.

You think your USD/fiat will be worth anything in an apocalyptic future hit by a comet leaving us without electricity?
I don't believe the zombies will accept them either.

[buy4crypto]

As much as I've been a supporter of VeriCoin... a fork to roll back the blockchain is a very tough pill to swallow. Have to say I'm with dadams.

At this early stage, 2 months into a crypto, you think its so devastating?

You dont think the media picks this up as a better alternative to a gox style blow out? You dont think this will attract the people VeriCoin is going for?

This could be the biggest FUD turned pot of GOLD if they get this right. The dev team spent all day making the fix, I bet you it shows the quality of our team at work.

I wonder how many people offered support to the devs and how many came to FUD the community.

Its very telling what crypto has become, instead of bringing in new markets, everyone has a laser focus on taking down the competition. Wake up people, crypto needs more investors and people in the ecosystem.

How many times have you heard of mt gox. How many times do you think you will hear about VeriCoin, and to the outside world, not comprised of coders and computer nerds... They will start coming to vericoin over bitcoin as they will see vericoin as the SAFE alternative to bitcoin and being goxed.

Let me put this out there. I don't give a shit what the media thinks. I don't give a shit if coinx or coiny did it before. If you think I'm fudding, you're mistaken.

I care purely because of the reasons I got into crypto in the first place. For a decentralised system.

I don't blame the devs for taking this decision, because I can see the logic in it - and I recognise they're under huge amounts of pressure. But I can't pretend to be thrilled about it.

Ultimately yes it's Mintpal's fault. But do you know else I blame? You. All of you. The number one rule in bitcoin: "DON'T KEEP YOUR COINS ON AN EXCHANGE". This doubly applies to PoS coins because having them staking in your wallet secures the network. So. If you held your coins on MintPal. YOU'RE TO BLAME FOR TRUSTING A CENTRALISED AUTHORITY.

You have gone nuts man. We are to blame mintpal got hacked? I have heard it all now.