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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1346489 times)
abercrombie
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July 14, 2014, 04:50:49 PM
 #9061

Vericoin – Lack of integrity while bailout Mintpal mistake
247cryptonews.com



VeriCoin Development Team took the decision to FORK the blockchain at a position before the attack and reverse all transactions and as results all Mintpal stolen coins were retrived , bailing out Mintpal mistake . I think Mt.Gox wished to had the same option at hand without destroying coin integrity as a secure decentralized system .  But each will decide if this was a option or they could be found other solutions , like destroying the coins stolen and make Mintpal learn it’s lesson that this is not their playground and we need professional exchanges not a bunch of Script Kiddies.
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mrkavasaki
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July 14, 2014, 04:52:00 PM
 #9062

so is this coin officially calling itself 'paypal of cryptos' ? Isn't that embarrassing?
The amazing part of this story is the blind bagholder defending their pile of shit.

Amazing part of this story, Vericoin been trading for hours and price is going up. LOL

Tune in for the hangout tonight so you can see what a great development team and community looks like.


please wait until mintpal releases verishits again  Wink Grin
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July 14, 2014, 04:52:24 PM
 #9063

We will get more professional exchanges as crypto grow. But a lot of groups would rather have more power than more money.


Think about what matters most in this world, some people say money. But it is power!

The bigger crypto gets, the less power these computer thugs have.


Think about it. Vericoin is the first coin to push mainstream adoption, and they HATE IT

Pump and dump groups don't need a huge market, they just need enough new ones to pump and dump on the same people, over and over who cannot help themselves but to gamble, and call this a rigged game.



Vericoin broke the mold, now time will tell if the investors like the choice, or don't. I suspect a new way of doing things will welcome in more community.

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████ - freecrypto.top - btcinfo.top - DIGITAL CURRENCY DIRECTORIES - freeMonero.comfunbtc.xyz  ████
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dandruff1138
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1000% ROI Masternode Coin


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July 14, 2014, 04:54:00 PM
 #9064

I have this odd feeling there is more to this story then we are getting as of today...

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(.
.@75 c Stage 2.
)
███     WHITEPAPER      SLACK      ANN THREAD     ███
████     FACEBOOK      TWITTER      TELEGRAM     ████

▬▬▬  JOIN OUR ICO    From Nov 10th, 2017  ▬▬▬
btcsnippers
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July 14, 2014, 04:54:37 PM
 #9065



how many times are u going to keep spamming this?
weryo
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July 14, 2014, 04:55:14 PM
 #9066

so is this coin officially calling itself 'paypal of cryptos' ? Isn't that embarrassing?
The amazing part of this story is the blind bagholder defending their pile of shit.

Amazing part of this story, Vericoin been trading for hours and price is going up. LOL

Tune in for the hangout tonight so you can see what a great development team and community looks like.

Also interested in the hangout tonight.
But afaik Vericoin is not yet traded on most exchanges (MP, cryptsy, poloniex all frozen)...
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July 14, 2014, 04:55:35 PM
 #9067

Official VeriCoin Statement
RE: Mintpal Security Breach
http://www.vericoin.info/downloads/Statement.pdf

PECULIUM                [  PRIVATE SALE ~$2M PLEDGED ]
First Saving System in CryptoCurrency Driven by Artificial Intelligence         / WHITEPAPER / ANN / BOUNTY / TELEGRAM /

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bitcad4u
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July 14, 2014, 04:57:31 PM
 #9068

When a EXCHANGE is hacked and 40% of currency was stolen - you know that 40% of the value of the coin was for PUMP n DUMP

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July 14, 2014, 04:58:40 PM
 #9069

We agree that this situation looks like PayPal fraud department f**** . Yeah i stop using Paypal for over 1 year since Bitcoin . I have no idea what people say here that PayPal is successful as many bussines understand how much harm they actually do . But did they had any other option till Bitcoin ? No .

Also here is our article : http://247cryptonews.com/vericoin-lack-integrity-bailout-mintpal-mistake/  
Not much but we want people to find out how stuff are going on . If i had 30% of vericoin and i have been hacked i bet all my bitcoins that Vericoin Team wouldn't have moved a single finger . We had a few Vericoins , now heading on Bittrex to sold them all . This entire operation it's becoming shady . Oh sh*t can't dump ....bittrex has VRC disable .

Goverment - Bailouts Banks . Vericoin - Bailouts Mintpal Smiley


Wow, couldn't even get through the first paragraph of this article since it is very poorly written.  The grammar and spelling is horrible.  You call yourself an editor?  How do you expect people to read that garbage?  

What a retarded article...
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July 14, 2014, 05:00:57 PM
 #9070

When a EXCHANGE is hacked and 40% of currency was stolen - you know that 40% of the value of the coin was for PUMP n DUMP

1+

lol look into the charts. from the first time, vrc never had a natural grow
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July 14, 2014, 05:01:46 PM
 #9071

....
That is is you want to have a guaranteed successful 51% attack...than 51% of the total coins STAKING....
barabbas you know that there are systems like PPC NOVA are using to prevent small amounts to make 51% attack
they are preventing it because of stake modyficators time stamps many  other combined solutions that only core coders understand not you...
At the end you have centralized CHECKPOINTs and no 51% attack is possible because of that...
POS system is not like just that you have 51%of stake and you will attack...
look how Nova is preventing 51% attack with having only 25% coins those technologies are known...
in fact when you have centralized checkpoint you are safe from 2x spend cause checkpoint servers will chose right chain for you...
Stop telling how you know POS while you are far away from tech aspects of case.
I am noob too but i know "a little more".


Tech info below ( BC in POS 2.0 pushed even further those security ... )
____________________

http://coinwiki.info/en/Novacoin
Stake generation issues
The main proof-of-stake design problem is that unlike proof-of-work hashing rate, stake weight could be used multiple times without any overhead. It allows potential attacker to repeat his attempts to generate consecutive stakes until he will get lucky enough. And there is high probability to success without holding large stake, 20–25% of total weight (not coins) will be more than enough. Attacker can retry his attempts to generate consecutive stakes 1,000, 50,000, or 1 million times without any problem, using the same outputs.[12][13]
This could be worked around using centralized check-pointing. Novacoin creators resolved this issue using balanced weighting scheme.[14]

Centralized check pointing
As PPCoin ideas descendant, Novacoin is not truly a decentralized currency as it still requires centralized check pointing to avoid several issues.[15] The Novacoin developer has announced however that this check pointing is only a temporary measure which will be removed once the currency grows sufficiently stable. The centralized checkpoints feature could be disabled manually using -nosynccheckpoints option for official client.

Blade, your post is so poorly written I don't understand a single thing you try to say (and, for once, they seem to be some interesting things being intended to be said there), so please try again. Give yourself a bit more time, maybe re-read and then post. I am not being sarcastinc, just read your post and you will see what I mean.

Besides that, it's difficult to understand why would you want me to "Stop telling how you know POS". I only post what I know and tech specs are not it. But I do know that if you control 51% of staking coins, you can perpetrate a 100% successful attack. And that if you have much less than 51% you still can perpetrate attacks that will eventually stand a good chance of being successful. If PPC or Nova have solutions for this, I don't know but I don't doubt it. What I read you posted seem, on first approach, for from an ideal solution -and not much different from rolling back actually-, but I may not "get" it completely...

In any case, you seem to want to avoid addressing the fact that someone or some group controlling 4.5 million (roughly 20% of total VRC and surely over 40, maybe even 50% of VRC STAKING poses a clear and present danger of a 51% attack, thefts and security failures at exchanges notwithstanding. I also would be quite interested in your personal opinion -if I can understand your answer, that is-, about the "generosity" towards VRC, and stake in it, of "Mr Boricua Man" for he played for quite a long time in YOUR field...Oh, and by the way, that field is on its way to extinction, as you are beginning to see now, so as an example to VRC, which is on the way up, up up and just starting, it simply cannot "work"/ Sorry for, as you know, I simply love the logo... but there's nothing else of any value there.
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July 14, 2014, 05:03:02 PM
 #9072

Volume on Mintpal is low for a weekday, for every coin.

Did everyone bail out of MP over the VRC thing?
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July 14, 2014, 05:03:27 PM
 #9073

i don't get why hacker doesn't dump everywhere when the fork is announced

there is a good chance he traded most of the stolen coins or used it to purchase items at which point he gets to keep whatever he purchased and everyone gets their coins back... not cool.
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July 14, 2014, 05:04:09 PM
 #9074

....
That is is you want to have a guaranteed successful 51% attack...than 51% of the total coins STAKING....
barabbas you know that there are systems like PPC NOVA are using to prevent small amounts to make 51% attack
they are preventing it because of stake modyficators time stamps many  other combined solutions that only core coders understand not you...
At the end you have centralized CHECKPOINTs and no 51% attack is possible because of that...
POS system is not like just that you have 51%of stake and you will attack...
look how Nova is preventing 51% attack with having only 25% coins those technologies are known...
in fact when you have centralized checkpoint you are safe from 2x spend cause checkpoint servers will chose right chain for you...
Stop telling how you know POS while you are far away from tech aspects of case.
I am noob too but i know "a little more".


Tech info below ( BC in POS 2.0 pushed even further those security ... )
____________________

http://coinwiki.info/en/Novacoin
Stake generation issues
The main proof-of-stake design problem is that unlike proof-of-work hashing rate, stake weight could be used multiple times without any overhead. It allows potential attacker to repeat his attempts to generate consecutive stakes until he will get lucky enough. And there is high probability to success without holding large stake, 20–25% of total weight (not coins) will be more than enough. Attacker can retry his attempts to generate consecutive stakes 1,000, 50,000, or 1 million times without any problem, using the same outputs.[12][13]
This could be worked around using centralized check-pointing. Novacoin creators resolved this issue using balanced weighting scheme.[14]

Centralized check pointing
As PPCoin ideas descendant, Novacoin is not truly a decentralized currency as it still requires centralized check pointing to avoid several issues.[15] The Novacoin developer has announced however that this check pointing is only a temporary measure which will be removed once the currency grows sufficiently stable. The centralized checkpoints feature could be disabled manually using -nosynccheckpoints option for official client.

Blade, your post is so poorly written I don't understand a single thing you try to say (and, for once, they seem to be some interesting things being intended to be said there), so please try again. Give yourself a bit more time, maybe re-read and then post. I am not being sarcastinc, just read your post and you will see what I mean.

Besides that, it's difficult to understand why would you want me to "Stop telling how you know POS". I only post what I know and tech specs are not it. But I do know that if you control 51% of staking coins, you can perpetrate a 100% successful attack. And that if you have much less than 51% you still can perpetrate attacks that will eventually stand a good chance of being successful. If PPC or Nova have solutions for this, I don't know but I don't doubt it. What I read you posted seem, on first approach, for from an ideal solution -and not much different from rolling back actually-, but I may not "get" it completely...

In any case, you seem to want to avoid addressing the fact that someone or some group controlling 4.5 million (roughly 20% of total VRC and surely over 40, maybe even 50% of VRC STAKING poses a clear and present danger of a 51% attack, thefts and security failures at exchanges notwithstanding. I also would be quite interested in your personal opinion -if I can understand your answer, that is-, about the "generosity" towards VRC, and stake in it, of "Mr Boricua Man" for he played for quite a long time in YOUR field...Oh, and by the way, that field is on its way to extinction, as you are beginning to see now, so as an example to VRC, which is on the way up, up up and just starting, it simply cannot "work"/ Sorry for, as you know, I simply love the logo... but there's nothing else of any value there.

Please remember that Mintpal has stated officially that they don't mint POS coins.

Where does this large % come from?

Its only FUD, not FACT that you say in this case. and keep trying to go on. You are wrong on your principal, so stop before you continue on like its fact.


I see so many % symbols And I dont think 1 of them has any real meaning behind them other than being pulled out of air to make nice stories up.

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kleineaap
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July 14, 2014, 05:04:53 PM
 #9075

i don't get why hacker doesn't dump everywhere when the fork is announced

there is a good chance he traded most of the stolen coins or used it to purchase items at which point he gets to keep whatever he purchased and everyone gets their coins back... not cool.

Please, do research before filling posts with ridiculous content. Is that too much to ask for?

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buy4crypto
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July 14, 2014, 05:08:55 PM
 #9076

Volume on Mintpal is low for a weekday, for every coin.

Did everyone bail out of MP over the VRC thing?

I would, what coin is next ya know?

VRC saved every alt on that exchange, and all we get is trouble from the ones VRC saved.

Shows the true colors of the communities.


Guess who the ones are on the attack, all the anon coins that realize there market is already pumped and no more money goin into it longterm. They are mad that instead of there niche approach, VeriCoin goes mainstream and looks to have the momentum to really break out.

So what do they do? Attack, Its a sign of success. We just need to hold together through the waves of jealousy.

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July 14, 2014, 05:09:29 PM
 #9077

buy4crypto
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July 14, 2014, 05:10:54 PM
 #9078

http://strawpoll.me/2108265

its 72% now for fork

28% against

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EtherCoin
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July 14, 2014, 05:12:03 PM
 #9079

Volume on Mintpal is low for a weekday, for every coin.

Did everyone bail out of MP over the VRC thing?

Last time I checked was 1,2xx or something like that, quite normal, but let's see tomorrow.

Eth.
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July 14, 2014, 05:12:17 PM
 #9080

i don't get why hacker doesn't dump everywhere when the fork is announced

there is a good chance he traded most of the stolen coins or used it to purchase items at which point he gets to keep whatever he purchased and everyone gets their coins back... not cool.

Please, do research before filling posts with ridiculous content. Is that too much to ask for?

Don't open your mouth unless you know what your talking about...Veribit was disable when the attack happened, Veribit was not used to make any purchases with these stolen coins. Stolen coins never left the address they where sent to...only people getting back there coins are there rightfull owners. No merchant will be effected!

Now shut the fuck up and do some research...
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