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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1349958 times)
YoyodyneSystems
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July 14, 2014, 12:05:58 AM
 #8021


Seems to be a lot of confusion here on reality.

- All systems based on computer code connected to the internet can be compromised
- If Crypto Currencies are to be based on code and connected to the internet then they can and will be compromised
- They can sometimes be compromised to the point of total destruction of the system

Because the above points are facts then the following likely applies :

- Without the ability to correct massive damage it is not likely many will "trust" Crypto Currencies with their wealth
- Crypto Currency will likely become a failed experiment as a store of value without the ability to correct fatal damage to the system

- Some trust must be given to get trust in return

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July 14, 2014, 12:06:26 AM
 #8022

All I have to say at this point, is that I will enjoy watching the VRC price fall.

Big fail by the VRC community and dev team pushing thru a blockchain revert like this.  You have rewarded mintpal for stupidity and incompetence, and rewarded ill-advised investors that kept coins on an insecure exchange. This kind of rollback won't always be an option - period... If VRC survives to see any kind of decent transaction volume, an action like this would be devastating to the entire economy.  Instead of showing that the coin and community can survive something like this, you have clearly shown that it CANNOT survive such an attack without a rollback.  Therefore, it's my opinion that you have proven this coin cannot survive in the long run.

It could have same result in the end on vericoin, drawing in a larger community. Any awareness that creates new investors will be a benefit.
I can the headlines now:
VERICOIN rolls back numerous transactions - merchants, private traders, etc all screwed.  MintPal comes out ahead.
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July 14, 2014, 12:06:34 AM
 #8023

You have seen more pages today alone in vericoin than in past week on this forum. I do vericoin websites. I am lookin at real time search results. I can tell you that they have improved since the hack.


So, I guess I have a different viewpoint on this stuff. I see demand so far for vericoin from a media perspective. The price and traders, Who knows about that part of the story. Time will tell.

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July 14, 2014, 12:07:34 AM
 #8024

All I have to say at this point, is that I will enjoy watching the VRC price fall.

Big fail by the VRC community and dev team pushing thru a blockchain revert like this.  You have rewarded mintpal for stupidity and incompetence, and rewarded ill-advised investors that kept coins on an insecure exchange. This kind of rollback won't always be an option - period... If VRC survives to see any kind of decent transaction volume, an action like this would be devastating to the entire economy.  Instead of showing that the coin and community can survive something like this, you have clearly shown that it CANNOT survive such an attack without a rollback.  Therefore, it's my opinion that you have proven this coin cannot survive in the long run.

It could have same result in the end on vericoin, drawing in a larger community. Any awareness that creates new investors will be a benefit.
I can the headlines now:
VERICOIN rolls back numerous transactions - merchants, private traders, etc all screwed.  MintPal comes out ahead.

VeriCoin avoids millions in theft, reverts blockchain to a safe point.

More like that.

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
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July 14, 2014, 12:09:08 AM
 #8025

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

If everyone didn't leave massive amounts of coins on mintpal to day trade with, then we wouldn't be entertaining the idea of rolling back the blockchain. So yes. You're all to blame, whether directly or indirectly, you're to blame.

... along with mintpal for storing 8million coins in a hot wallet.

No exchange, no price and coins with no value. Have to applaud your brilliant accusations against the victims of this theft.  Roll Eyes

I'm saying DON'T LEAVE YOUR COINS THERE. I'm not saying exchanges should cease to exist. Although in fairness, the only exchanges should be p2p exchanges. But alas, one can dream.

Read what you want to read, believe what you want to believe... but don't for a second try to suggest that what I'm saying doesn't make sense.

If nobody leaves coins there, the exchanges will cease to exist. You are right, what you are saying doesn´t make sense.

And this is not about reading or believing, this is only logical. But please go on and throw some more dirt at the victims.
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July 14, 2014, 12:09:24 AM
 #8026

All I have to say at this point, is that I will enjoy watching the VRC price fall.

Big fail by the VRC community and dev team pushing thru a blockchain revert like this.  You have rewarded mintpal for stupidity and incompetence, and rewarded ill-advised investors that kept coins on an insecure exchange. This kind of rollback won't always be an option - period... If VRC survives to see any kind of decent transaction volume, an action like this would be devastating to the entire economy.  Instead of showing that the coin and community can survive something like this, you have clearly shown that it CANNOT survive such an attack without a rollback.  Therefore, it's my opinion that you have proven this coin cannot survive in the long run.

It could have same result in the end on vericoin, drawing in a larger community. Any awareness that creates new investors will be a benefit.
I can the headlines now:
VERICOIN rolls back numerous transactions - merchants, private traders, etc all screwed.  MintPal comes out ahead.

Can you tell me how much VRC was transacted during that couple hours of the hack? Did anyone buy a mansion? A couple cheeseburgers? Maybe someone pulled off a couple thousand dollars in transactions unknowingly and got lucky. whats better, mintpal paying for that? Or the VRC community absorbing 30% dilution from a thief?

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July 14, 2014, 12:11:11 AM
 #8027

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

If everyone didn't leave massive amounts of coins on mintpal to day trade with, then we wouldn't be entertaining the idea of rolling back the blockchain. So yes. You're all to blame, whether directly or indirectly, you're to blame.

... along with mintpal for storing 8million coins in a hot wallet.

No exchange, no price and coins with no value. Have to applaud your brilliant accusations against the victims of this theft.  Roll Eyes

I'm saying DON'T LEAVE YOUR COINS THERE. I'm not saying exchanges should cease to exist. Although in fairness, the only exchanges should be p2p exchanges. But alas, one can dream.

Read what you want to read, believe what you want to believe... but don't for a second try to suggest that what I'm saying doesn't make sense.

If nobody leaves coins there, the exchanges will cease to exist. You are right, what you are saying doesn´t make sense.

And this is not about reading or believing, this is only logical. But please go on and throw some more dirt at the victims.

The exchanges would still exist. How can you not see this? Exchanges live off the fees gathered through trading, not from people leaving their coins in exchange wallets. It's REALLY fucking simple:
1) Go to exchange
2) Deposit to exchange
3) Make a trade = exchange gets fees
4) Withdraw from exchange

Everybody wins.

You'll notice I did say that MintPal was ultimately to blame. But the users who kept their funds there should not be absolved from blame. This has happened time and time again. How have they not learned by now?
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July 14, 2014, 12:11:23 AM
 #8028

All I have to say at this point, is that I will enjoy watching the VRC price fall.

Big fail by the VRC community and dev team pushing thru a blockchain revert like this.  You have rewarded mintpal for stupidity and incompetence, and rewarded ill-advised investors that kept coins on an insecure exchange. This kind of rollback won't always be an option - period... If VRC survives to see any kind of decent transaction volume, an action like this would be devastating to the entire economy.  Instead of showing that the coin and community can survive something like this, you have clearly shown that it CANNOT survive such an attack without a rollback.  Therefore, it's my opinion that you have proven this coin cannot survive in the long run.

It could have same result in the end on vericoin, drawing in a larger community. Any awareness that creates new investors will be a benefit.
I can the headlines now:
VERICOIN rolls back numerous transactions - merchants, private traders, etc all screwed.  MintPal comes out ahead.

VeriCoin avoids millions in theft, reverts blockchain to a safe point.

More like that.

VeriCoin devs avoid losing M3 and lambo funds, reverts blockchain to a safe point.

More like that. Sorry I just had to say it seeing some of their Twitters. Tongue
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July 14, 2014, 12:11:30 AM
 #8029

An honest question, how many of you people here mad about VRC investors not getting cleaned out, lost money to gox or other scams?

Why are people so mad that VRC is young, and nimble enough to prevent theft?


Are you all serious? I never thought the community would gang up on the crypto trying to do the right thing, when the crypto community should assist the developers in making it a solution that works

Times like this is when crypto can take a big step back, or a leap forward. It seems like many of the people who wish to see crypto succeed come here to see vericoin fail?

Mintpal messed up. Why are people attacking VRC like THEY DID IT???

People are horrible.

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July 14, 2014, 12:12:18 AM
 #8030

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


Existential threats must be met by extreme actions to ensure survival. Bitcoin devs did it in 2010 and VRC devs have followed suit today.
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July 14, 2014, 12:13:34 AM
 #8031

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


Existential threats must be met by extreme actions to ensure survival. Bitcoin devs did it in 2010 and VRC devs have followed suit today.

Well said. This will prove a strength for VRC in future, not a failure. When the media catches on they will be buying VRC through that wallet with FIAT like nobodies business.

We will see the devs actions soon. They working really hard to make this right, all day. Lets say we appreciate them, rather than bullying them around. I for one appreciate the devs today and the fact that it happened to a team with a solid foundation and community.

Infact I am almost happy this happened to VRC. I dont know of many other alts that have the developers, or community to handle such attacks.

Out of these tough times will come better times, with maybe an even brighter future. I am hopeful!

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July 14, 2014, 12:13:45 AM
 #8032

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

If everyone didn't leave massive amounts of coins on mintpal to day trade with, then we wouldn't be entertaining the idea of rolling back the blockchain. So yes. You're all to blame, whether directly or indirectly, you're to blame.

... along with mintpal for storing 8million coins in a hot wallet.

No exchange, no price and coins with no value. Have to applaud your brilliant accusations against the victims of this theft.  Roll Eyes

I'm saying DON'T LEAVE YOUR COINS THERE. I'm not saying exchanges should cease to exist. Although in fairness, the only exchanges should be p2p exchanges. But alas, one can dream.

Read what you want to read, believe what you want to believe... but don't for a second try to suggest that what I'm saying doesn't make sense.

If nobody leaves coins there, the exchanges will cease to exist. You are right, what you are saying doesn´t make sense.

And this is not about reading or believing, this is only logical. But please go on and throw some more dirt at the victims.

The exchanges would still exist. How can you not see this? Exchanges live off the fees gathered through trading, not from people leaving their coins in exchange wallets. It's REALLY fucking simple:
1) Go to exchange
2) Deposit to exchange
3) Make a trade = exchange gets fees
4) Withdraw from exchange

Everybody wins.

Yeah, great. Never could it happen that within this timeframe your funds get stolen. Again brilliant  Roll Eyes
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July 14, 2014, 12:16:04 AM
 #8033

Roll back the Blockchain -  deny the thief his spoils and return lost coins.  Coin can recover.

Don't roll back the Blockchain - likely(not with 100% certainty) to deny the thief his spoils by watchdogging where the coins go and victims get nothing returned to them.  Coin will definitely not recover.

You decide.





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.
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July 14, 2014, 12:16:56 AM
 #8034

An honest question, how many of you people here mad about VRC investors not getting cleaned out, lost money to gox or other scams?

Why are people so mad that VRC is young, and nimble enough to prevent theft?


Are you all serious? I never thought the community would gang up on the crypto trying to do the right then, when the crypto community should assist the developers in making it a solution that works

Times like this is when crypto can take a big step back, or a leap forward. It seems like many of the people who wish to see crypto succeed come here to see vericoin fail?

Mintpal messed up. Why are people attacking VRC like THEY DID IT???

People are horrible.

their pro fudders from blackcoin m8 trying to get u to sell vrc and buy their wonderfull coin.
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July 14, 2014, 12:17:39 AM
 #8035

An honest question, how many of you people here mad about VRC investors not getting cleaned out, lost money to gox or other scams?

Why are people so mad that VRC is young, and nimble enough to prevent theft?


Are you all serious? I never thought the community would gang up on the crypto trying to do the right then, when the crypto community should assist the developers in making it a solution that works

Times like this is when crypto can take a big step back, or a leap forward. It seems like many of the people who wish to see crypto succeed come here to see vericoin fail?

VRC did not avoid or prevent a theft.
The theft occurred and has been covered up.
This means the system that made the theft possible has been left uncorrected.
Now with all the bullshit and spin people are trying to act like this is a good thing.
This is not the solution.

Lecky is right.
Don't leave money on exchanges.
Have there not been enough examples already?
With this "fix" I fear people will do the reverse of learning the lesson.
This will just reinforce people using exchanges in this broken way.
It will excuse the exchange and they get a free pass.
This WILL happen again.
What then? Another rollback? Another fork?

In any scam: people who act like it did not occur or try to minimize it to create positive spin are part of the scam.
FUD is bad but mindless support is just as bad.

P.s: once again, I think VRC devs are among the best and I am very sorry they got placed in this situation. I sympathize.
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July 14, 2014, 12:20:12 AM
 #8036

MTGox happened and people are still using exchanges why will they stop now
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July 14, 2014, 12:21:32 AM
 #8037

All I have to say at this point, is that I will enjoy watching the VRC price fall.

Big fail by the VRC community and dev team pushing thru a blockchain revert like this.  You have rewarded mintpal for stupidity and incompetence, and rewarded ill-advised investors that kept coins on an insecure exchange. This kind of rollback won't always be an option - period... If VRC survives to see any kind of decent transaction volume, an action like this would be devastating to the entire economy.  Instead of showing that the coin and community can survive something like this, you have clearly shown that it CANNOT survive such an attack without a rollback.  Therefore, it's my opinion that you have proven this coin cannot survive in the long run.

It could have same result in the end on vericoin, drawing in a larger community. Any awareness that creates new investors will be a benefit.
I can the headlines now:
VERICOIN rolls back numerous transactions - merchants, private traders, etc all screwed.  MintPal comes out ahead.

/facepalm

https://www.bitcoinlanding.com - Twitter - https://twitter.com/Bitcoinlanding - Bitcoin News, Video and more!
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July 14, 2014, 12:21:44 AM
 #8038

their pro fudders from blackcoin m8 trying to get u to sell vrc and buy their wonderfull coin.

I'm not from blackcoin. And I don't consider legitimate critique to be FUD. I have more than enough reasons to want VeriCoin to succeed.
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July 14, 2014, 12:22:17 AM
 #8039

All I have to say at this point, is that I will enjoy watching the VRC price fall.

Big fail by the VRC community and dev team pushing thru a blockchain revert like this.  You have rewarded mintpal for stupidity and incompetence, and rewarded ill-advised investors that kept coins on an insecure exchange. This kind of rollback won't always be an option - period... If VRC survives to see any kind of decent transaction volume, an action like this would be devastating to the entire economy.  Instead of showing that the coin and community can survive something like this, you have clearly shown that it CANNOT survive such an attack without a rollback.  Therefore, it's my opinion that you have proven this coin cannot survive in the long run.

It could have same result in the end on vericoin, drawing in a larger community. Any awareness that creates new investors will be a benefit.
I can the headlines now:
VERICOIN rolls back numerous transactions - merchants, private traders, etc all screwed.  MintPal comes out ahead.

/facepalm

LOL thats about all you can say to stupidity like this.

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July 14, 2014, 12:23:01 AM
 #8040

their pro fudders from blackcoin m8 trying to get u to sell vrc and buy their wonderfull coin.

I'm not from blackcoin. And I don't consider legitimate critique to be FUD. I have more than enough reasons to want VeriCoin to succeed.

We know, we see you on twitter posting your gambling site all the time. Such an asset to the community  Grin

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