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

[btcsnippers]

The future of crypto is not in the people that currently hold it. It's in the ones who will come and make it mainstream.

They will not see this as a taint upon the coin, but rather a disaster averted where other coins, including Bitcoin itself, left it's holders high and dry in the face of such odds.

This is the day that cryptocurrency starts to look 'safe' in the eyes of the masses. And it is the opinion of the masses yet to come, not the fudsters and 'purists' in this thread, that will be the driving force in the months and years to come.

You have witnessed something special today folks, mark my words.

And to the devs, congrats on a job well done.

I am with you. Just a few more minutes, and once everything is smooth for a couple hours I am going to copy / paste a nice essay to as many news stations, bloggers as it takes to get this viral, I promise.

This is the day crypto will get more people who think its safe now, from the wild wild west of bitcoin where thieves win. NOT ANYMORE.

2 mln heist "rolled back" that might make some news channels.

[hero18688]

Be sure to move your coins to Bittrex if you day trade. I would say get 2-3 exchanges going with some volume but that'll never happen so lets just stick with Bittrex.

Or don't keep coins on an exchange. Have you not learned anything by this?

+1 Don't keep your coin on any exchange , put in your wallet , and save your wallet 20 times in different places . Send to exchanges only when needed . It was a good lesson

Sometimes when you saw a good price to sell.But you have to wait for it transfered from wallet.When it is done.The price gone.

[buy4crypto]

The future of crypto is not in the people that currently hold it. It's in the ones who will come and make it mainstream.

They will not see this as a taint upon the coin, but rather a disaster averted where other coins, including Bitcoin itself, left it's holders high and dry in the face of such odds.

This is the day that cryptocurrency starts to look 'safe' in the eyes of the masses. And it is the opinion of the masses yet to come, not the fudsters and 'purists' in this thread, that will be the driving force in the months and years to come.

You have witnessed something special today folks, mark my words.

And to the devs, congrats on a job well done.

I am with you. Just a few more minutes, and once everything is smooth for a couple hours I am going to copy / paste a nice essay to as many news stations, bloggers as it takes to get this viral, I promise.

This is the day crypto will get more people who think its safe now, from the wild wild west of bitcoin where thieves win. NOT ANYMORE.

2 mln heist "rolled back" that might make some news channels.

It was a better outcome than past outcomes, and criminals get 0. Its really big headlines for finance, not crypto, FINANCE!

I am skipping crypto when I go promote this story, Im going to the big news and start from there, work my way down

[loges]

I'm sorry to the guys who lost coins, but you lost them because of Mintpal and they should reimburse you not the entire blockchain being forked. If Mintpal can't pay then the community shouldn't have trusted so many coins with one exchange. Isn't this a decentralized crypto coin? You can't become centralized when it's convenient to bail out an exchange because it's convenient.

Why not be Visa coin and allow chargebacks, and while you're at it have a Vericoin bank and offer Verinsurance

This coin is forever tainted, and this is a sad day for all alt coins. Mintpal is NOT too big to fail. Maybe we should fork the Bitcoin blockchain to bail out Mt. Gox and Mark Karplees  

+1, sad but true.

The point is theft could be prevented and was. If I told you there was a better way then letting someone steal confidence from the whole crypto system would you believe it?


It was done. The money will be returned and no thieves will be able to steal money from hundreds of individuals crypto accounts.

Its a matter of time before news picks up that a new crypto currency PREVENTED fraud and returned money to hundreds, if not thousands of investors with NO LOSS. and within 1 day? WHAT? I can't believe it! Oh, yeah I can, its Bitcoin? Wait, NOOOO its that new kid VERICOIN!!!

+1 vericoin attack will go viral = already spread on twitter + facebbok = no one can ignore vrc now  . + tomorow all medias worldwide will relay the infos . TV , radio , newspaper , business magazines ...........etc VRC will be the new BTC So happy

TV, radio, newspapers? This is getting better than the uro thread the other day.

[buy4crypto]

I'm sorry to the guys who lost coins, but you lost them because of Mintpal and they should reimburse you not the entire blockchain being forked. If Mintpal can't pay then the community shouldn't have trusted so many coins with one exchange. Isn't this a decentralized crypto coin? You can't become centralized when it's convenient to bail out an exchange because it's convenient.

Why not be Visa coin and allow chargebacks, and while you're at it have a Vericoin bank and offer Verinsurance

This coin is forever tainted, and this is a sad day for all alt coins. Mintpal is NOT too big to fail. Maybe we should fork the Bitcoin blockchain to bail out Mt. Gox and Mark Karplees  

+1, sad but true.

The point is theft could be prevented and was. If I told you there was a better way then letting someone steal confidence from the whole crypto system would you believe it?


It was done. The money will be returned and no thieves will be able to steal money from hundreds of individuals crypto accounts.

Its a matter of time before news picks up that a new crypto currency PREVENTED fraud and returned money to hundreds, if not thousands of investors with NO LOSS. and within 1 day? WHAT? I can't believe it! Oh, yeah I can, its Bitcoin? Wait, NOOOO its that new kid VERICOIN!!!

+1 vericoin attack will go viral = already spread on twitter + facebbok = no one can ignore vrc now  . + tomorow all medias worldwide will relay the infos . TV , radio , newspaper , business magazines ...........etc VRC will be the new BTC So happy

TV, radio, newspapers? This is getting better than the uro thread the other day.

You see gox on the news ever? You don't think this is bigger news? Every other exchange story is, EXCHANGE HACKED, EVERYONE LOST MONEY.

Whats different about this one? Its a pretty big deal.

[btminer8]

I'm sorry to the guys who lost coins, but you lost them because of Mintpal and they should reimburse you not the entire blockchain being forked. If Mintpal can't pay then the community shouldn't have trusted so many coins with one exchange. Isn't this a decentralized crypto coin? You can't become centralized when it's convenient to bail out an exchange because it's convenient.

Why not be Visa coin and allow chargebacks, and while you're at it have a Vericoin bank and offer Verinsurance

This coin is forever tainted, and this is a sad day for all alt coins. Mintpal is NOT too big to fail. Maybe we should fork the Bitcoin blockchain to bail out Mt. Gox and Mark Karplees  

+1, sad but true.

Mtgox only admits they had lost almost 750,000 (7% of supply) 2 weeks after they stopped withdrawal. It is already too late for them to do anything.

7% is insignificant compare to 30%. Bitcoin had much more infrastructures (eg exchanges, merchants) then vericoin now. No one can convince 50% of the network to roll back blockchain. Bitcoin network is just too decentralized.

Vericoin now at most is only a speculative investment; I highly doubt anyone would use Vericoin/Verbit for everyday transaction. Vericoin developers and big 4 exchanges were quick to understand the situation to devise a plan allows them to minimize damage to the network integrity.

I hope everyone learns a lesson here and move on. Fud-ing without any constructive argument is not in our best interest for the whole crypto currency communities. What about discussing the solution to today problem?

[buy4crypto]

I'm sorry to the guys who lost coins, but you lost them because of Mintpal and they should reimburse you not the entire blockchain being forked. If Mintpal can't pay then the community shouldn't have trusted so many coins with one exchange. Isn't this a decentralized crypto coin? You can't become centralized when it's convenient to bail out an exchange because it's convenient.

Why not be Visa coin and allow chargebacks, and while you're at it have a Vericoin bank and offer Verinsurance

This coin is forever tainted, and this is a sad day for all alt coins. Mintpal is NOT too big to fail. Maybe we should fork the Bitcoin blockchain to bail out Mt. Gox and Mark Karplees  

+1, sad but true.

Mtgox only admits they had lost almost 750,000 (7% of supply) 2 weeks after they stopped withdrawal. It is already too late for them to do anything.

7% is insignificant compare to 30%. Bitcoin had much more infrastructures (eg exchanges, merchants) then vericoin now. No one can convince 50% of the network to roll back blockchain. Bitcoin network is just too decentralized.

Vericoin now at most is only a speculative investment; I highly doubt anyone would use Vericoin/Verbit for everyday transaction. Vericoin developers and big 4 exchanges were quick to understand the situation to devise a plan allows them to minimize damage to the network integrity.

I hope everyone learns a lesson here and move on. Fud-ing without any constructive argument is not in our best interest for the whole crypto currency communities. What about discussing the solution to today problem?

This is something we should get focused on. Its is very hard with all the FUD attempts. But we must try to refocus in the midst of all the tension.

[opsguy]

They said the fork is going to happen and that's probably the best course of action for the coin. My concern is that in the rush to get the fork done there will not be sufficient communications from the dev team and key stakeholders. I run several public VRC nodes with lots of connections. What can I be doing to make sure the fork is successful? Should I shut my nodes down now or leave them running? Do I just need to download/compile/restart when the new code becomes available? Is there anything else I can do to help the network converge onto the correct chain? I hope this doesn't turn into a DRK style fork where the key people think everything is fine but everyone else is seeing random forks all over the place. Some clear communication from the key people would be great, I'm ready to help--just let me know how.

Send me an email, pnosker@vericoin.info. You will need to reclone/compile.

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

I don't follow you. I'm no banker, lender, or exchanger. I've done some trading as I'm sure many of us have. So what? Crypto is an interesting hobby I've been into for a while. I work in the tech industry and running some public nodes seemed like a fun thing to do. I always figured that spending a bit of my money and time to keep some nodes updated and functional was helpful.

When I saw this emergency fork was going to take place I remembered the fiasco with the DRK forks. No offense against the DRK team, I think they've done some cool stuff. But those masternode forks were a mess by any measure. So with this VRC emergency fork happening I decided to post a message asking for direction. I just want to get my nodes updated properly and make sure they are on the right fork. I also wanted to extend an offer to help if there was anything I could do. I was pretty impressed that Patrick replied back right away.

Meanwhile I get this reply about manipulators and middleman which doesn't make a lot of sense. I scroll through the messages looking for relevant info and all I see are these types of rants. They're all so negative and unhelpful. I understand people are upset about the decision to roll back transactions. Everybody is entitled to their opinion. But jeez, some of this is a little over the top. I suspect that at least some of these rants are an attempt to fuel panic selling when the markets finally open back up. Which would make *those* folks the manipulators, not me.

[smoothie]

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.

Any business that is incompetent to handle customer funds and property should be held liable without a "bail out" in the form of a hard fork through the VRC devs. This will set a precedent for things to come. Watch the next exchange that gets hacked or person will cry foul and expect the VRC devs to roll back the block chain and if they don't they will be then hypocrites.

[InvestorPerson]

rollback? how about calling it a chargeback

a thing that shouldn't be possible in cryptos, but you guys are now trying to sell me this as something positive

some funny PR guys here

[buy4crypto]

Can someone with better writing skills, or a few people make me up something well written about the headlines of today? English isn't my first language (im sure you all can tell by now)

I will spend hours a day through social media and emails until this goes viral.

So if someone doesn't mind helping me out, something quick and easy for a news outlet to view and want to learn more about the story.

[smoothie]

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 

This is exactly what I am talking about. The trust factor will go down the toilet.

The VRC devs obviously are willing to take on a business's inadequacy to secure their users VRC on their exchange. Let's wait for the next VRC hack or scam that happens...watch as the rumbles of hypocrisy take shape.

Bad decision by the devs. Their credibility went out the door.

[buy4crypto]

rollback? how about calling it a chargeback

a thing that shouldn't be possible in cryptos, but you guys are now trying to sell me this as something positive

some funny PR guys here

Thieves don't steal millions, And thats bad PR? To much of a crypto purist to see whats holding back adoption? Normal people don't care for thievery of there money, buddy.

[loges]

This may be a dumb question, but did the total supply just go down 30%? That's how I read the hard fork and mintpal reimbursement.

[buy4crypto]

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  

This is exactly what I am talking about. The trust factor will go down the toilet.

The VRC devs obviously are willing to take on a business's inadequacy to secure their users VRC on their exchange. Let's wait for the next VRC hack or scam that happens...watch as the rumbles of hypocrisy take shape.

Bad decision by the devs. Their credibility went out the door.

To you, and went up with a majority of other people. Sure the price might go down a bit in the first few minutes as people panic and re-asses, I will be shocked if this stays down for long however.

Dogecoin got big because of MEDIA am i correct? It was a dog face coin with big community that grew from media.

Vericoin will benefit in time, people will see the quality of developers and community and come here.

I dont think I seen a normal fudder here today, All these people are 100% new, and that means they are thinking about vericoin now.

[smoothie]

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 

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.

% is not an argument. The fact that a business fucked up in their security of their customers' VRC is not the devs problem. But obviously the devs want to make it their problem.

VRC hacks and scams will come with expectations now in the future. "Hey someone hacked my personal VRC wallet...can you VRC devs roll back and hard fork the blockchain so I can get my coins back?"

Utter BS.

[eiskalt]

And the BTC fork for that 184 million exploited coins was for development?  Yes I know you previously try to explain how that wasn't the same.  Facts are, someone illicitly grabbed a bunch of coins, and the community reacted to negate it.  No two scenarios are the same and must be resolved differently.  

Nobody grabbed illicit coins... someone exploited a flaw to generate more coins then they should while mining a block.  It was a protocol level flaw in bitcoin that was fixed.  Yes, that was a development mistake, and a hardfork was necessary (the fix made the new blockchain incompatible with the old blockchain, and that 184million coin block was orphaned as a result).  The VRC action is totally different.  VRC IS NOT SUGGESTING A HARDFORK - the devs aren't fixing anything.  They are acting for benefit of an exchange and third party to the protocol.

Rolling-back a blockchain is unbelievably contrary to a decentralized ledger.  That, is the key.

A bookkeeper who "fudges" the books, has no place being trusted to keep the public ledger. Pressure is moot.

They are not acting for the benefit of an exchange, because there would be no legal obligation for the exchange to reimburse customers. Again you seem to not like the idea, that a thieve will hold an empty bag.

[InvestorPerson]

rollback? how about calling it a chargeback

a thing that shouldn't be possible in cryptos, but you guys are now trying to sell me this as something positive

some funny PR guys here

Thieves don't steal millions, And thats bad PR? To much of a crypto purist to see whats holding back adoption? Normal people don't care for thievery of there money, buddy.

you are trying damn hard to get people to put more money into VRC once it's back. slow down man, you might trip and fall

[smoothie]

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.

Anyone who sent coins from the time the hack occurred (where they will roll back to) to the current time...can essentially DOUBLE SPEND their coins.

EPIC fail.  

[healthandwealth]

Speaking of panic selling...when (or if) coins are restored on Mintpal...what kind of a percentage dump are people estimating?  

I was thinking anywhere from 25-50%.  

As bad as this sounds...it would seem to be a prime time opportunity to (new) buyers.  

Regardless of what happens...I foresee Vericoin rising 10-100x by years end.

So if you have some now...hold and stake.  Unless you swing trade at exchanges...then tread carefully.