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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1346435 times)
lucates
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July 14, 2014, 09:16:28 AM
 #8681

Nice to hear this Developers from VRC save the hack nice team i holding my for bether price SOon!

"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."
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drkman
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July 14, 2014, 09:16:39 AM
 #8682

Guys, they are fudding the coin because they are pissed that the coins they stole to bring down Vericoin, had the opposite effect.   They lost their stolen booty and made Legends of the Vericoin Devs and Vericoin community in the process.  Just like Satoshi did to save Bitcoin in 2010, the Vericoin Devs are also not afraid to Hard Fork the coin to punish thieves who were trying to destroy the coin.  

And the community is now tremendously stronger because of this event.  There is no doubt now that Vericoin is on it's way to sitting next to Bitcoin and used as much as Bitcoin for daily transactions.  The Dev team proved they have the salt necessary to innovate and make Vericoin succeed where all others have failed!
alwa1
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July 14, 2014, 09:19:33 AM
 #8683

Reading many other alt coin threads, everybody is saying that vericoin only choice was to hard fork, they support the decision. Only here there are people who FUD.
GridWorker
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July 14, 2014, 09:19:50 AM
 #8684

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.
Interesting. My deposit was frozen when they shut down VRC, yet it was not canceled or deleted. All of my transfers finished after they reactivated.

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
Bobsurplus
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July 14, 2014, 09:20:11 AM
 #8685

Guys, they are fudding the coin because they are pissed that the coins they stole to bring down Vericoin, had the opposite effect.   They lost their stolen booty and made Legends of the Vericoin Devs and Vericoin community in the process.  Just like Satoshi did to save Bitcoin in 2010, the Vericoin Devs are also not afraid to Hard Fork the coin to punish thieves who were trying to destroy the coin.  

And the community is now tremendously stronger because of this event.  There is no doubt now that Vericoin is on it's way to sitting next to Bitcoin and used as much as Bitcoin for daily transactions.  The Dev team proved they have the salt necessary to innovate and make Vericoin succeed where all others have failed!


LMAO @ your post. Yous sound like a snake oil salesman!

Keep trying to keep moral up. In the last few hours since trading started there has been about 1.5 btc of volume on bittrex most of it from selling and none of you supporters sheep are doing any buying. Wait till the world wakes up. This coin is losing 50% today! You'll see!
phzi
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July 14, 2014, 09:20:55 AM
 #8686

Guys, they are fudding the coin because they are pissed that the coins they stole to bring down Vericoin, had the opposite effect.   They lost their stolen booty and made Legends of the Vericoin Devs and Vericoin community in the process.  Just like Satoshi did to save Bitcoin in 2010, the Vericoin Devs are also not afraid to Hard Fork the coin to punish thieves who were trying to destroy the coin.  

And the community is now tremendously stronger because of this event.  There is no doubt now that Vericoin is on it's way to sitting next to Bitcoin and used as much as Bitcoin for daily transactions.  The Dev team proved they have the salt necessary to innovate and make Vericoin succeed where all others have failed!
[/size]
Such... a... newb...

Didn't even read the last page of posts to understand that this is not in anyway similar to any bitcoin fork.

VRC did NOT do a hard-fork.  VRC rolledback the blockchain.  Huge difference.
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July 14, 2014, 09:22:54 AM
 #8687

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.

Sounds like something a bank manager or paypal would say!

"Vericoin, the Paypal of Cryptos!"
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July 14, 2014, 09:24:09 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?
GridWorker
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July 14, 2014, 09:25:09 AM
 #8689

My wallet is updated and all transactions are current, without having had to import wallet.dat.

Is this normal?

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
GridWorker
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July 14, 2014, 09:26:20 AM
 #8690

"Vericoin, the Paypal of Cryptos!"
I use paypal on a daily basis. So yeah it works for me the same as it will work for others.

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
Artoodeetoo
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July 14, 2014, 09:26:22 AM
 #8691

Its a decent update...

Its bad for vericoin.. There is no way this is good, but I do think its been handled well...

Root of the problem (IMO) is this is a mintpal issue.. Mintpal has an awesome UI, its fast, it can keep up with demand but it is still the subject to growing pains... This is a massive shot across the bows for them and will no doubt make them stronger, they cannot  f&^k up on how they store coins of they will put themselves out of business.. No doubt internal meetings are saying now "security, security, security"

Forget adding Isis and other Sh1t coins.. Get on with the job..... VRC have done the right thing, but they are the fall guys here which is a shame...

Ironically I think this will make mintpal stronger now going forward.. Hope is all sorts itself out for holders today.

DASH #DashDC #DashIntoDigitalCash
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July 14, 2014, 09:26:27 AM
 #8692

You can see all time vericoin volume on bittrex, and is actually about the average. Are you guys insane, you did not like what happened thats ok, most of you haven't even invested in vericoin. The decision is taken and only time will show what will happen.
kehtolo
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July 14, 2014, 09:27:34 AM
 #8693

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.


The next 24 hours are critical!
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July 14, 2014, 09:27:47 AM
 #8694

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.
Flam
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July 14, 2014, 09:28:34 AM
 #8695

Is the forked wallet out ?



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venlo
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July 14, 2014, 09:28:44 AM
 #8696

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
 #8697

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 ♦ Always be careful in Bitcoin world, there is always some "Developer", "Investor", "Project" that might look legit. Triple check it. ♦ █
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July 14, 2014, 09:30:46 AM
 #8698

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
 #8699

 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
 #8700

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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