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

[BadAss.Sx]

Ok... seriously now people... this doesn't hurt crypto, and nor would no action.  It hurts VRC.

But, VRC is effectively dead in the water now, because the blockchain ledger can't be trusted.  And if you can't trust the ledger to not have mass blocks orphaned, the coin is as useful as dirt.

It hurts crypto because it sets a precedent. If VRC does recover from this then rolling back the blokchain becomes a valid course of action, and that road does not lead to good places.

Hardly... real networks are never going to rollback the blockchain for external non-technical reasons.  Propose this kind of action for BTC or LTC - the community would laugh for ages.

This simply proves that these infant clone coins cannot be trusted.

VRC - It's like paypal... your coins might get charged-back anytime at the an an exchange's whim!

BULLSHIT! No hard fork will be done when the coin is used like it supposed to be. This hard fork isn't hurting anyone except the hacker (are you the one?). It also doesn't hurt the trust in the coin, but it is what the fudders would like to spread. Why? So they can pick up the coin in a technical way so they can earn money from it.

Most of the dickheads here are spreading shit because they want to see VRC bleeding. All those shitheads are not talking about MP their fault, but simply are crying like little babies about how it is going to hurt the crypto world. Well, babyshit, these kind of hacks are hurting the crypto world. Simple. Don't cry when devs are trying to do something against it, because you've simply asked for it. Action - reaction and if you really don't understand that part of the deal, stay of the deal.

Now, fok off.

[BadAss.Sx]

Price will tank to ATL and wither away and die slowly.

But you talk shit all the time, so i guess this message is also shit.

Why dont you look back at my post history before running your mouth. Each coin I proclaimed dead is either dead or dying.. All of them!
DCM EMC2 Harmony Crypt ect...

It's not talking shit if it's true.. you understand this right!

You are talking shit simply because you are shit. You can't help it.

[amesterdamer]

The hardfork is done and the wallets are available for download.

Here's the step-by-step on how to do the update.

1. Do the backup of the wallet.dat and vericoin.conf (if you have this file)
2. Delete all files in folder leaving only the two files mention above.
3. Download the bootstrap file from: http://vericoin.info/downloads/bootstrap.dat and put it together in the folder with the other 2 files.
4. Download the wallet from http://vericoin.info
5. Install the wallet
6. Run the wallet and wait for synchronization

-- If you don't have the vericoin.conf file you can make one using this:
irc=0
server=0
listen=1
checklevel=2
txindex=1
staking=1
connect=supernode.vericoin.info
connect=supernode2.vericoin.info
connect=supernode3.vericoin.info
connect=supernode4.vericoin.info
connect=supernode5.vericoin.info

[Bobsurplus]

Price will tank to ATL and wither away and die slowly.

But you talk shit all the time, so i guess this message is also shit.

Why dont you look back at my post history before running your mouth. Each coin I proclaimed dead is either dead or dying.. All of them!
DCM EMC2 Harmony Crypt ect...

It's not talking shit if it's true.. you understand this right!

You are talking shit simply because you are shit. You can't help it.

Guess so.... Enjoy your bagholding!

[drkman]

Can't you just use a normal font? I don't see anything special in the content of your posts that warrants them being bigger thane everyone else's.

Anyway the price of VRC is irrelevant. Even if this does benefit VRC short term, this whole debacle is going to damage cryto as a whole. I have yet to see anyone address this point and unless you have and only ever will invest invest in a single coin then this is something everyone should be concerned with. Stop being so short-sighted, or at least explain to me how I am wrong.

Big font type + spam posts = attention hungry.

The roll back will be VRC's down fall. Come back in a year and see where VRC is at.

Kinda like how Bitcoin's fork to eliminate 184billion bitcoins from the blockchain in 2010 caused Bitcoin's downfall, huh.  LMFAO dumbass!

[phzi]

Ok... seriously now people... this doesn't hurt crypto, and nor would no action.  It hurts VRC.

But, VRC is effectively dead in the water now, because the blockchain ledger can't be trusted.  And if you can't trust the ledger to not have mass blocks orphaned, the coin is as useful as dirt.

It hurts crypto because it sets a precedent. If VRC does recover from this then rolling back the blokchain becomes a valid course of action, and that road does not lead to good places.

Hardly... real networks are never going to rollback the blockchain for external non-technical reasons.  Propose this kind of action for BTC or LTC - the community would laugh for ages.

This simply proves that these infant clone coins cannot be trusted.

VRC - It's like paypal... your coins might get charged-back anytime at the an an exchange's whim!

BULLSHIT! No hard fork will be done when the coin is used like it supposed to be. This hard fork isn't hurting anyone except the hacker (are you the one?). It also doesn't hurt the trust in the coin, but it is what the fudders would like to spread. Why? So they can pick up the coin in a technical way so they can earn money from it

This isn't a hard fork... learn your terminology.

What about private sales using VRC?  I sold someone a bunch of gold bricks and they paid in VRC. Now I don't have my gold or my VRC. Get it?  This is horrible and hurts anyone that was actually using the coin...

It massively hurts trust in the coin.  If you can't see that, you don't understand the value of cryptocurrencies at all.

[Bobsurplus]

35.5k, Still no volume..

Looks like its dying to me!

How about all you supporters show your support an buy some.. LMAO..

HAHAHAH

[smoothie]

Can't you just use a normal font? I don't see anything special in the content of your posts that warrants them being bigger thane everyone else's.

Anyway the price of VRC is irrelevant. Even if this does benefit VRC short term, this whole debacle is going to damage cryto as a whole. I have yet to see anyone address this point and unless you have and only ever will invest invest in a single coin then this is something everyone should be concerned with. Stop being so short-sighted, or at least explain to me how I am wrong.

Big font type + spam posts = attention hungry.

The roll back will be VRC's down fall. Come back in a year and see where VRC is at.

Kinda like how Bitcoin's fork to eliminate 184billion bitcoins from the blockchain in 2010 caused Bitcoin's downfall, huh.  LMFAO dumbass!

Please provide a link to your claim.

These are two different events. VRC is due to one business being incompetent.

The other is due to technological error. The fork then had to do with fixing the software...not fixing some failed exchange's mistakes.

[kehtolo]

No it's not. Not going to damage Vericoin. it's bullish..

The coin is young.. the Dev's still have control over it.. so how in the hell does that mean it is decentralized?? How? If the Dev can change the code, how does that mean it is decentralzed...answer it's not yet.. see OP and under phase 2..

If we had of been in a decentralized network.. and this happened, you'd be 100% right.. but we'Re not.. it was the right thing to happen.

Only one who got burned was the thief. MP will have to audit their security and practices.. which will result in a more secure platform.

It was stopped in time. Rolled back.. anything else missing in that time frame, MP will dig into their pockets and refund the losses... who loses??

Just the thief.. I can't believe you are all crying about this.

[GridWorker]

Refreshing to see developers like VRCs...talk about biting the fucking bullet and taking care of business while being called liars/thieves and dealing with just about every type of e-bullshit that exists. As unfortunate as this whole situation is, for me it has just reiterated my faith in the minds behind Vericoin and what they're capable of offering this community.

BTC     BTC

Yep. A lot of people complaining about VRC setting a "precedent". I guess they haven't noticed that setting a precedent has been the norm since out of the gate, which is what attracted everyone to begin with.

I would rather the thief keep the 8 million coins, he won them as far as I am concerned.

LoL you consider thieves to be winners.

And i'm sure you call yourself a "winner" as well.

I believe people care more about my beliefs then yours!

Belief implies that you don't know.

Trying to understand why you think people would care about what you don't know.

The hardfork is done and the wallets are available for download.

Here's the step-by-step on how to do the update.

1. Do the backup of the wallet.dat and vericoin.conf (if you have this file)
2. Delete all files in folder leaving only the two files mention above.
3. Download the bootstrap file from: http://vericoin.info/downloads/bootstrap.dat and put it together in the folder with the other 2 files.
4. Download the wallet from http://vericoin.info
5. Install the wallet
6. Run the wallet and wait for synchronization

-- If you don't have the vericoin.conf file you can make one using this:
irc=0
server=0
listen=1
checklevel=2
txindex=1
staking=1
connect=supernode.vericoin.info
connect=supernode2.vericoin.info
connect=supernode3.vericoin.info
connect=supernode4.vericoin.info
connect=supernode5.vericoin.info

Thanks.

whats the big fuss here? no one lost money... new wallets are working and staking... all we need now are the exchanges to open up

Since the hack itself failed to kill the coin the same group needs to yap it down as if their little voice has any influence.

Very much like neighbors with the little yapper dogs that just sit at the fenceline yapping the whole time they are outside. (LoL when they dig under the fence and got eaten by a bigger dog)

In all seriousness, if the VRC action really affects all other alts, why are they so weak?

[phzi]

Kinda like how Bitcoin's fork to eliminate 184billion bitcoins from the blockchain in 2010 caused Bitcoin's downfall, huh.  LMFAO dumbass!

Sigh... this has been explained several times before, but I'll take pitty on your small mind and explain again.

Yes, Bitcoin has previously HARD-FORKED the coin and causes a fair number of block to be orphaned.  It was done because of a bug in the bitcoin code that allowed arbitrary block sizes (the 184million - not billion - case).  This is VASTLY different then what happened with VRC.

Bitcoin suffered an internal technical problem that needed to be resolved to maintain the integrity of the blockchain, and by the consent of miners, the faulty block was orphaned.  The key is that there was a HARD-FORK in the code which causes the prior blockchain to be incompatible with the new blockchain.

VRC did not hard-fork the coin, they rolled back the blockchain for arbitrary and external reasons.  The devs chose to effectively double spend and 51% their own network instead of allowing the blockchain to stand as a real.  No protocol change was made.  The fork was done for an external party and for external reasons.

This is a complete first - no crypto has done this before FOR GOOD REASON.  Not because they couldn't, because they WOULDN'T. And it destroys all faith in the VRC blockchain's orphan resistance.


TL/DR:  A protocol fork or "hard-fork" and a "blockchain rollback" are entirely different things.  Blockchain rollbacks are bad - VERY BAD... if you can't trust that a blockchain won't get rolled back, you can't trust the blockchain.  Hard-forks are a positive thing when they work effectively - they represent bug fixes or protocol advancements.

[kehtolo]

Ok... seriously now people... this doesn't hurt crypto, and nor would no action.  It hurts VRC.

But, VRC is effectively dead in the water now, because the blockchain ledger can't be trusted.  And if you can't trust the ledger to not have mass blocks orphaned, the coin is as useful as dirt.

It hurts crypto because it sets a precedent. If VRC does recover from this then rolling back the blokchain becomes a valid course of action, and that road does not lead to good places.

Hardly... real networks are never going to rollback the blockchain for external non-technical reasons.  Propose this kind of action for BTC or LTC - the community would laugh for ages.

This simply proves that these infant clone coins cannot be trusted.

VRC - It's like paypal... your coins might get charged-back anytime at the an an exchange's whim!

BULLSHIT! No hard fork will be done when the coin is used like it supposed to be. This hard fork isn't hurting anyone except the hacker (are you the one?). It also doesn't hurt the trust in the coin, but it is what the fudders would like to spread. Why? So they can pick up the coin in a technical way so they can earn money from it

This isn't a hard fork... learn your terminology.

What about private sales using VRC?  I sold someone a bunch of gold bricks and they paid in VRC. Now I don't have my gold or my VRC. Get it?  This is horrible and hurts anyone that was actually using the coin...

It massively hurts trust in the coin.  If you can't see that, you don't understand the value of cryptocurrencies at all.

Wait a minute.. what private sales in Vericoin?? You believing that this is anything more than 99.9999% speculation at this moment in time??
So.. people are using this coin for more than trade on exchanges??
I don't believe that for one second.. lukily it is this way and the rollback affects almost nobody. IMO = right thing to do. Damages nothing.

[drkman]

As the Vericoin Devs go down in history as true badasses,
The hardfork is done and the wallets are available for download.

Here's the step-by-step on how to do the update.

1. Do the backup of the wallet.dat and vericoin.conf (if you have this file)
2. Delete all files in folder leaving only the two files mention above.
3. Download the bootstrap file from: http://vericoin.info/downloads/bootstrap.dat and put it together in the folder with the other 2 files.
4. Download the wallet from http://vericoin.info
5. Install the wallet
6. Run the wallet and wait for synchronization

-- If you don't have the vericoin.conf file you can make one using this:
irc=0
server=0
listen=1
checklevel=2
txindex=1
staking=1
connect=supernode.vericoin.info
connect=supernode2.vericoin.info
connect=supernode3.vericoin.info
connect=supernode4.vericoin.info
connect=supernode5.vericoin.info

[SkyValeey]

Funny how vested interest turns Crytpo into some kind of religion for some people.  

You can't even make one little critique without being accused for blasphemy (FUD).    

Wisely m8

[GridWorker]

This isn't a hard fork... learn your terminology.

What about private sales using VRC?  I sold someone a bunch of gold bricks and they paid in VRC. Now I don't have my gold or my VRC. Get it?  This is horrible and hurts anyone that was actually using the coin...

It massively hurts trust in the coin.  If you can't see that, you don't understand the value of cryptocurrencies at all.

Strange seeing how my transactions were preserved in the new wallet.

Guess I am the "winner" LoL!

[775011934]

No it's not. Not going to damage Vericoin. it's bullish..

The coin is young.. the Dev's still have control over it.. so how in the hell does that mean it is decentralized?? How? If the Dev can change the code, how does that mean it is decentralzed...answer it's not yet.. see OP and under phase 2..

If we had of been in a decentralized network.. and this happened, you'd be 100% right.. but we'Re not.. it was the right thing to happen.

Only one who got burned was the thief. MP will have to audit their security and practices.. which will result in a more secure platform.

It was stopped in time. Rolled back.. anything else missing in that time frame, MP will dig into their pockets and refund the losses... who loses??

Just the thief.. I can't believe you are all crying about this.

What Mintpal did like a joke.

[GridWorker]

Bitcoin suffered an internal technical problem that needed to be resolved to maintain the integrity of the blockchain, and by the consent of miners, the faulty block was orphaned.  The key is that there was a HARD-FORK in the code which causes the prior blockchain to be incompatible with the new blockchain.

Everybody voted with their wallets.

Sorry if you were in the minority vote.

[kehtolo]

No it's not. Not going to damage Vericoin. it's bullish..

The coin is young.. the Dev's still have control over it.. so how in the hell does that mean it is decentralized?? How? If the Dev can change the code, how does that mean it is decentralzed...answer it's not yet.. see OP and under phase 2..

If we had of been in a decentralized network.. and this happened, you'd be 100% right.. but we'Re not.. it was the right thing to happen.

Only one who got burned was the thief. MP will have to audit their security and practices.. which will result in a more secure platform.

It was stopped in time. Rolled back.. anything else missing in that time frame, MP will dig into their pockets and refund the losses... who loses??

Just the thief.. I can't believe you are all crying about this.

What Mintpal did like a joke.

So what? Mintpal hacked themselves now for a joke? I don't understand... did you even read their statement? It doesn't matter anyway.. we are where we are.. and that's alright. . we move on.. we go forward from here.

[jtbcoins]

MintPal / VRC Update
https://support.mintpal.com/index.php?module=announce&sec=view&id=18


Since we made our first announcement on the MintPal / VRC situation a few hours ago many of you have come forward with a number of questions.

What will happen to my VRC?
The VeriCoin that you hold on the MintPal exchange will be unaffected thanks to the VeriCoin developers. As we previously announced, the VRC developers have worked tirelessly to perform something never before done by a cryptocurrency and rollback the blockchain in order to reverse the two malicious transactions. This was not done out of a desire to save MintPal, but rather a desire to save your coins. Once the updated wallet has been distributed and the new fork is active we will re-open our VRC wallet to facilitate withdrawals.

How can I get my VRC?
As soon as we re-open our wallet your VRC balances will be available for withdraw. All market orders on the VRC/BTC market have been cancelled. We will be manually processing withdrawals to ensure the process works as expected.

Was my personal information taken?
No. We have absolutely no reason to believe that any of your personal information was taken. We would also like to add that we store your passwords & secret question answers encrypted with a static & random salt.

How did the attack happen?
The malicious user was able to inject a withdrawal request directly into our database bypassing the risk control measures that we have in place. We have found no evidence that our server infrastructure was directly accessed in the attack.

Has the issue been fixed?
We have worked to secure the withdrawals process to ensure that a similar situation cannot occur again. As an added precaution we are manually processing withdrawals until we are 110% confident the issue has been resolved.

Were you staking your VRC?
No. With the exception of Coin2.1 (by developers request) we do not stake any PoS coin. The staking process is CPU intensive on a large wallet and makes for an accounting nightmare. All of our wallets are started with the staking=0 flag set in the configuration.

Why was only VRC taken?
We're not exactly sure why VRC was the only coin taken, however we can confirm that BTC and LTC were targeted, but those withdraw attempts were unsuccessful owing to far more stringent COLD storage methods on those wallets.

What about COLD storage?
This is perhaps the most important question we have been asked. We did have COLD storage setup for VRC, however in this instance, due to an error for which only we can be accountable, we had transferred far fewer coins than was required, resulting in a large proportion of coins being left in the HOT wallet.

Why did trades take place after the market was suspended?
Once the hard fork was announced by the VRC developers we suspended trading on the VRC/BTC market via our usual process, however, not long after the market was suspended we were alerted to a number of trades being executed on the market. Investigation has shown that due to an error on our part users who had not refreshed the page since the market was suspended were still able to enter orders successfully. We immediately worked to patch the issue to prevent further trades and have reversed the trades that occurred.

What happens to my VRC deposits since the time of the attack?
Any deposits that you have made since the time of the attack will be removed and any pending deposits will be cancelled. Once you update to the new wallet version, you will pick up where you left off before the attack. If you deposited directly from a different exchange, please contact them directly.

How do I get a refund?
The biggest implication of the rollback is to the various exchanges who have accepted customer deposits and then had trades executed on those deposits. We have committed to our customers and to all exchanges that we will cover any losses faced as a result of the rollback. If you are a MintPal customer you will be able to withdraw your full VRC and BTC balance. If you are a customer of another exchange you will need to contact them directly for exact information.

[Bobsurplus]

OMG ^^^^ is disgusting! Sounds like something a bank manager would say.