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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1350838 times)
kehtolo
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July 14, 2014, 09:27:34 AM
 #8681

used as much as Bitcoin for daily transactions

You realise that any daily transactions are part of this roll back? If any merchants were accepting VRC as payment, they now have to go to Mintpal to ask for compensation. Imagine if Visa charged back 4 hours worth of payments and then told merchants that in order to get their money back they had to file a claim with an unaffiliated bank that they had arbitrarily chosen to rescue. How does this inspire trust?

I think you'll find the number to be extemely low. Sunday.. using one of the altcoins.. how much sales volume you reckon?

Fuck all. Insignificant.. if there are any who got beef, it will be sorted.. security will be improved, lessons learned etc.

Devs and community acted in time to avert a catastrophe = Bullish.

I know the problem was with Mintpal, nobody else.. they will have to improve to win back trust and customers.. and we all move on.


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July 14, 2014, 09:27:47 AM
 #8682

used as much as Bitcoin for daily transactions

You realise that any daily transactions are part of this roll back?

I asked this also: With these stolen coins, what is stopping them being traded on other exchanges prior to this fork?  given the time the fork took place it appears Mintpal has been given a second life whilst minorities given the middle finger so to speak.
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July 14, 2014, 09:28:34 AM
 #8683

Is the forked wallet out ?



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venlo
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July 14, 2014, 09:28:44 AM
 #8684

why is this coin called vericoin to begin with?
What comes to my mind:
http://en.wikipedia.org/wiki/VeriChip

So this whole thing is just a testrun. You are the sheep.

http://vimeo.com/16231795

go upvote your own chipping with your money

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July 14, 2014, 09:30:09 AM
 #8685

As a news agency we will write about this un-fair method for all VeriCoin users . And this is not a right decision to be made , it ruins the trust in cryptocurrencies even more if people start doing reverses on their coin when stuff aren't happning the way they want . Also it looks exactly like what most people runned from : " Goverment bailing Banks fuck ups " now we are here and see " Cryptocurrencies bailout Exchanges Fuck Ups "

SpiryBTC
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virtuallann
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July 14, 2014, 09:30:46 AM
 #8686

Fact of the matter is that this solution will have less of a detrimental effect on the market than if the thief was allowed to keep the coins.  Good job on the Devs in how they handled this.

It's amazing how these trolls don't give a fuck about the 8 Million worth of peoples coins that went missing, they'd rather nothing be done and the coin get flushed down the toilet.  This is the nature of immoral humans though.  They love to see people suffer to make themselves feel better.
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July 14, 2014, 09:31:40 AM
 #8687

 given the time the fork took place it appears Mintpal has been given a second life whilst minorities given the middle finger so to speak.
Up till now your idea is still complete speculation.

I would wait for things to be sorted out. As I mentioned all of my transactions became frozen, then were completed after they restarted. Nothing was lost. I doubt I would have issues bringing up a loss claim if I had proof (such as a backup which has been repeatedly prescribed).

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
Casu
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July 14, 2014, 09:31:48 AM
 #8688

used as much as Bitcoin for daily transactions

You realise that any daily transactions are part of this roll back? If any merchants were accepting VRC as payment, they now have to go to Mintpal to ask for compensation. Imagine if Visa charged back 4 hours worth of payments and then told merchants that in order to get their money back they had to file a claim with an unaffiliated bank that they had arbitrarily chosen to rescue. How does this inspire trust?

I think you'll find the number to be extemely low. Sunday.. using one of the altcoins.. how much sales volume you reckon?

Fuck all. Insignificant.. if there are any who got beef, it will be sorted.. security will be improved, lessons learned etc.

Devs and community acted in time to avert a catastrophe = Bullish.

I know the problem was with Mintpal, nobody else.. they will have to improve to win back trust and customers.. and we all move on.



That's not the point. I don't doubt that this has effected very few (if any) merchants this time. My point is that now it has happened once, how can anyone trust that it won't happen again? If I was a merchant there is no way that I would accept VRC as a form of payment after this.
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July 14, 2014, 09:31:57 AM
 #8689

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
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July 14, 2014, 09:33:01 AM
 #8690

As a news agency we will write about this un-fair method for all VeriCoin users . And this is not a right decision to be made , it ruins the trust in cryptocurrencies even more if people start doing reverses on their coin when stuff aren't happning the way they want . Also it looks exactly like what most people runned from : " Goverment bailing Banks fuck ups " now we are here and see " Cryptocurrencies bailout Exchanges Fuck Ups "


yeah, promote exchange hacks and support hackers. You are crying about bank fuck ups, but you are attacking VRC. Stupid dick.

Need BadAss Bulletproof VPS or Bulletproof VPN or why not just mail safe with Safe-Mail. We care about your privacy.
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July 14, 2014, 09:33:11 AM
 #8691

As a news agency we will write about this un-fair method for all VeriCoin users . And this is not a right decision to be made , it ruins the trust in cryptocurrencies even more if people start doing reverses on their coin when stuff aren't happning the way they want . Also it looks exactly like what most people runned from : " Goverment bailing Banks fuck ups " now we are here and see " Cryptocurrencies bailout Exchanges Fuck Ups "

As a "news agency" I hope you are not the editor, your grammar is atrocious.

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
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July 14, 2014, 09:33:39 AM
 #8692

As a news agency we will write about this un-fair method for all VeriCoin users . And this is not a right decision to be made , it ruins the trust in cryptocurrencies even more if people start doing reverses on their coin when stuff aren't happning the way they want . Also it looks exactly like what most people runned from : " Goverment bailing Banks fuck ups " now we are here and see " Cryptocurrencies bailout Exchanges Fuck Ups "


Can't wait to read your article!
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July 14, 2014, 09:34:16 AM
 #8693

Makes you realise how much volume goes through mintpal...

They really should be making sure though their procs on cold storage are rock solid and that probably

DRK, XC, VRC, BC etc etc (ie the big boys) are subjesct to regular manual checks that the hot wallet is at the right level...

Hopefully they will do this going forward.

DASH #DashDC #DashIntoDigitalCash
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July 14, 2014, 09:35:20 AM
 #8694

...
Root of the problem (IMO) is this is a mintpal issue.. ...

After party you forgot that 1/3 of all coins were stored on ONE exchange like in on line wallet...
POS systems as secure as they stakeholders are if you as majority trust exchange...
I don't see to regular people taking here risk of having coins in their wallets because if Mintpal wallet will be hacked again it will be rollback
if my wallet on local PC will be hacked i am lost.
I don't see point to keep money safe in local PC from VRC holder point of View mintpal is less risky place than local PC IMO.

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Casu
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July 14, 2014, 09:37:06 AM
 #8695

Makes you realise how much volume goes through mintpal...

They really should be making sure though their procs on cold storage are rock solid and that probably

DRK, XC, VRC, BC etc etc (ie the big boys) are subjesct to regular manual checks that the hot wallet is at the right level...

Hopefully they will do this going forward.

What's the point in putting anymore effort into security? If something goes wrong then just roll back the blockchain.
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July 14, 2014, 09:37:55 AM
 #8696

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.

So basically you (mintpal) fucked up and can't own up to it by paying for your faults? Resort to having the devs roll back the blockchain to correct and save your exchange from closing up shop because of this massive fuck up.


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balu2
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July 14, 2014, 09:39:11 AM
 #8697

why is this coin called vericoin to begin with?
What comes to my mind:
http://en.wikipedia.org/wiki/VeriChip

So this whole thing is just a testrun. You are the sheep.

http://vimeo.com/16231795

go upvote your own chipping with your money

drop it like its hot.
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July 14, 2014, 09:39:51 AM
 #8698

Makes you realise how much volume goes through mintpal...

They really should be making sure though their procs on cold storage are rock solid and that probably

DRK, XC, VRC, BC etc etc (ie the big boys) are subjesct to regular manual checks that the hot wallet is at the right level...

Hopefully they will do this going forward.

What's the point in putting anymore effort into security? If something goes wrong then just roll back the blockchain.

What is to stop them from doing it again in the future?

Answer: There is nothing to stop them.

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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Bobsurplus
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July 14, 2014, 09:40:41 AM
 #8699

Fact of the matter is that this solution will have less of a detrimental effect on the market than if the thief was allowed to keep the coins.  Good job on the Devs in how they handled this.

It's amazing how these trolls don't give a fuck about the 8 Million worth of peoples coins that went missing, they'd rather nothing be done and the coin get flushed down the toilet.  This is the nature of immoral humans though.  They love to see people suffer to make themselves feel better.


+1 truer words have never been said.

So wrong.. This are false words. What would have been good is if mintpal bit the bullet and paid out the losses. The thief should keep his money as he pointed out a vulnerable exploit on the exchange. He should be paid for that.  Rolling back these coins is the death of vericoin.

What happens when the lead devs says he was hacked for major coins and now wants a rollback?

You cant just keep rolling back every time someone gets robbed.

This coin is going to be the laughing matter of the day in the press today.

Get ready for some massive selloffs.
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July 14, 2014, 09:42:45 AM
 #8700

so i make a summary:

-could be social experiment
-named after human implantable RFID-chip
-exchange in the City of London fucks up causing:
-transactions are reversed

WTF people?
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