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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1349954 times)
jerrylemon
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July 15, 2014, 06:17:10 AM
 #9481

I wonder what the legal ramifications are from the actions of the devs and how vericoin could now be categorized, because it definatly is not P2P .

food for thought, sounds more like a HYIP.
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July 15, 2014, 06:17:25 AM
 #9482

Mintpal made a bad decision to keep MOST of its users' VRC holding in their hot wallet. The VRC devs bailed out Mintpail.

The principal is the same.

Such silly smoothie posts Roll Eyes

Mintpal got lucky that Vericoin is early on enough and the devs wanted the users to not be fucked over in this case.

So it is what the devs want. I got it.

Now we can both agree VRC operates as a dictatorship much like the Federal Reserve System. Thank you for clarifying that.

And no there isn't anything silly about my posts. They are the facts.

Facts seem silly to people who don't want to view the truth for what it is and prefer to be in denial.

Vericoin developers gave users the option to join a new blockchain that rolled back the part where someone stole the $2 million worth of coin.  We all here had the choice to not do this.  Exchanges had the choice to not participate.  etc etc.   The majority of people voted with their wallets on this decision, this choice probably will not be something possible later in the life of the coin.  It was an opportunity to make right of a shitty situation.  Just the facts.   You are in denial that people live happily thinking about and using digital currencies in a different way than you lol.



That is a straight up fallacy, just stop sir.  You guys had your side deal with the bigdog in this case and either jump on board or gtfo, come on now.  There absolutely was no community involvement at all, stop playing it like people "voted with their wallets".
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July 15, 2014, 06:17:38 AM
 #9483

but you chose to bail out mintpal.
The devs chose to not have early users of Vericoin have their coin stolen.

The devs chose to act as a central banker would.

ANTI-CRYPTO is what Vericoin is.

Vericoin is the Paypal of Crypto.

Vericoin devs = Ben Bernanke!



FIAT monetary systems cannot be directly compared to crypto. They have similarities, but are still two different worlds. More importantly the devs were forced into a corner. The only other option was to leave the chain as is and allow one individual to have 8M coins. If that person were to stake 8M coins, they would then control the chain and can double-spend (51% attack). VRC would be dead.

I don't think you're considering the entire situation.

Yes they can both be compared to each other.

When a Crypto coin like Vericoin decides (through its developers) to roll back the block chain because an incompetent exchange (Mintpal) fucked up on its security procedures you can find similarities in the two.

The Federal Reserve bailed out Big banks that made bad decisions in 2008.

Mintpal made a bad decision to keep MOST of its users' VRC holding in their hot wallet. The VRC devs bailed out Mintpail.

The principal is the same.

VRC users may as well use the legacy banking system or PayPal. There is no difference in principal.

A bailout creates money out of thin air, which is the problem. A roll back is not creating money out of thin air. Think a little harder

lol really?

Rollback basically puts back the virtual money out of thin air back where it was at a particular point in time.

It moves the money. The federal reserve system can do the same thing. Delete or freeze a hackers bank account of money they stole and recredit the victims account.

Think a little harder buddy.

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July 15, 2014, 06:18:23 AM
 #9484

Mintpal made a bad decision to keep MOST of its users' VRC holding in their hot wallet. The VRC devs bailed out Mintpail.

The principal is the same.

Such silly smoothie posts Roll Eyes

Mintpal got lucky that Vericoin is early on enough and the devs wanted the users to not be fucked over in this case.

So it is what the devs want. I got it.

Now we can both agree VRC operates as a dictatorship much like the Federal Reserve System. Thank you for clarifying that.

And no there isn't anything silly about my posts. They are the facts.

Facts seem silly to people who don't want to view the truth for what it is and prefer to be in denial.

Vericoin developers gave users the option to join a new blockchain that rolled back the part where someone stole the $2 million worth of coin.  We all here had the choice to not do this.  Exchanges had the choice to not participate.  etc etc.   The majority of people voted with their wallets on this decision, this choice probably will not be something possible later in the life of the coin.  It was an opportunity to make right of a shitty situation.  Just the facts.   You are in denial that people live happily thinking about and using digital currencies in a different way than you lol.


Could not have said it better myself, thank you!
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July 15, 2014, 06:19:29 AM
 #9485

If you were dumb enough to trust an incompetent exchange (whether you knew or not ahead of time...as there is always risk with 3rd parties) you deserve to lose your coins should that 3rd party fuck up on their responsibilities.
I actually agree with you, but not at the cost of the failure of the coin itself (thus effecting all users of the coin, not just the ones using Mintpal).   Vericoin devs chose to save the coin from one user controlling too much as well as hopefully teach a huge lesson to all the users not to keep their coins on an exchange like that.

You mean...MintPal was "too big to fail".

@BitcoinPorn,

there is no real lesson if they were given back all that they should have lost in the hack.

Lessons come at a cost. There was no real cost to users who made bad decisions to keep their coins on an exchange that makes bad decisions.

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
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July 15, 2014, 06:19:53 AM
 #9486

  You all know the risks of crypto i only leave on an exchange what i can afford to lose !

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July 15, 2014, 06:20:08 AM
 #9487

Wallet not sync Sad

If you followed the instructions from here https://bitcointalk.org/index.php?topic=602041.msg7844241#msg7844241

The wallet will take a long ass time to sync, the splash/start up screen will be loading for a while, I suggest taking a nap or doing something else while it loads/syncs up.

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July 15, 2014, 06:20:57 AM
 #9488



ALL the Vericoin users wanted the rollback.


Prove it.

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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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July 15, 2014, 06:21:33 AM
 #9489

In general all in VRC community discovered that there is no safer place to keep coin than bigger VRC exchange if it will be hacked then for sure will be rollback,
while when your local PC will be hacked you will loss money ) for some people at the and that can be even "+".

If in future 20%-30% coin will be stolen developer will have to rollback again to keep coin integrity.

Look at this at this situation from month year time frame you will see here how for "greater good"
something was changed just for money and people are happy...
But wait such mechanism works with Internet: save children censor Internet...
Save Iraq it has weapon of mass destruction US invaded country...
For hard manipulated society freedom which is offered by crypto can not be understand
today you fight with thief's tomorrow with terrorists and the end they will come for us...

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July 15, 2014, 06:22:33 AM
 #9490

via Imgflip Meme Maker
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July 15, 2014, 06:23:17 AM
 #9491

In general all in VRC community discovered that there is no safer place to keep coin than bigger VRC exchange if it will be hacked then for sure will be rollback,
while when your local PC will be hacked you will loss money ) for some people at the and that can be even "+".

If in future 20%-30% coin will be stolen developer will have to rollback again to keep coin integrity.

Look at this at this situation from month year time frame you will see here how for "greater good"
something was changed just for money and people are happy...
But wait such mechanism works with Internet: save children censor Internet...
Save Iraq it has weapon of mass destruction US invaded country...
For hard manipulated society freedom which is offered by crypto can not be understand
today you fight with thief's tomorrow with terrorists and the end they will come for us...

Finally someone brought a smile to my face tonight.
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July 15, 2014, 06:23:51 AM
 #9492


blah blah blah I feel threatened by vrc because I'm bagholding another coin blah blah blah



Most alts will die in the next few years. But we all have a feeling that VRC will still be here, and be bigger aswell.

And you know it, that's why you're waisting your time here.

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July 15, 2014, 06:25:28 AM
 #9493

Mintpal made a bad decision to keep MOST of its users' VRC holding in their hot wallet. The VRC devs bailed out Mintpail.

The principal is the same.

Such silly smoothie posts Roll Eyes

Mintpal got lucky that Vericoin is early on enough and the devs wanted the users to not be fucked over in this case.

So it is what the devs want. I got it.

Now we can both agree VRC operates as a dictatorship much like the Federal Reserve System. Thank you for clarifying that.

And no there isn't anything silly about my posts. They are the facts.

Facts seem silly to people who don't want to view the truth for what it is and prefer to be in denial.

Vericoin developers gave users the option to join a new blockchain that rolled back the part where someone stole the $2 million worth of coin.  We all here had the choice to not do this.  Exchanges had the choice to not participate.  etc etc.   The majority of people voted with their wallets on this decision, this choice probably will not be something possible later in the life of the coin.  It was an opportunity to make right of a shitty situation.  Just the facts.   You are in denial that people live happily thinking about and using digital currencies in a different way than you lol.


LOL well at least we agree on something...that it probably shouldn't happen again...but that doesn't mean it won't.

The precedent as been set. Good luck in the future with other scams/hacks/losses that are VRC-related.

Current events form future trends. Now we can see where the trend is headed.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
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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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July 15, 2014, 06:25:58 AM
 #9494

S.E.C.

ya youuuuuu know me.
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July 15, 2014, 06:27:22 AM
 #9495

@BitcoinPorn,

there is no real lesson if they were given back all that they should have lost in the hack.

Lessons come at a cost. There was no real cost to users who made bad decisions to keep their coins on an exchange that makes bad decisions.

I truly believe Mintpal did not suffer great enough consequences for what they did and the controversy they have helped ignite over what is right or wrong for digital coins.  I can only hope for a slow exit from the exchange by users.   I can't foul all the users in this case, as there is a mixture of day traders (I'm not a fan of) or people who found this was a way to get into either Vericoin or any coin really, as Mintpal lists a lot.  That $2 million dollars worth of coin could have been spread among any amount of users.   I am in agreement with you that probably not everyone here is learning any lesson, however the cost of the coin overall being gone completely from users who did not use that exchange should not have to suffer.  

 I seen the other post about someone saying there was an option to make that $2 million become null and void from the chain without having to rollback, I am not sure if that would have been the right option either, but I do know decisions did have to be made quick, and I think the devs made an optimal choice for the users of the still fairly new coin.

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July 15, 2014, 06:28:50 AM
 #9496

Scam....devs sell their coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...fork back...sell coins...you see the problem now?
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July 15, 2014, 06:29:01 AM
 #9497

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July 15, 2014, 06:30:17 AM
 #9498

Current events form future trends. Now we can see where the trend is headed.


The world is changing.

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July 15, 2014, 06:31:24 AM
 #9499

Im going to go out on a limb here and probably get shot down in flames.

I believe the right decision was made!!

Someone STOLE nearly a third of the coin supply. That would have seriously lined there pockets and left honest, early investors / adopters potentially in the shit with a coin that was now worthless due to the theft, lack of security ( albeit on MP's part ) and probably a price in the gutter after a 8 mill sell off creating mass panic.

That's not fair on the honest folk who bought into the coin, some people spent big legitimate money on this.

Should MP have been held accountable for the loss, In a word "YES"!!! but do they have that cash available I would hazard a guess as NO!

THE only reason VRC was targeted is the explosion this coin has made on the market. An innovative coin with a great dev team. And a great price to sell your ill gotten coins for to make a shed load of cash.

My rant over, we need to stop talking about it now, whats done is done!

MP I hope have increased security even further moving more coins to cold storage quicker as by there own admission and the devs can get back to the GREAT work they were doing before someone knocked it all off track with the theft.

Im hoping VRC can recover and get over this issue as the coin was going to be right up there with the best altcoins.

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July 15, 2014, 06:33:00 AM
 #9500


I am awesome.



I like to edit people's posts and put presumptuous details that have no bearing nor proof to it.



I assure you I do not hold any VRC, nor want to buy it cheap, nor want to FUD it to death. I am simply calling it as I see it.

VRC is tarnished. Good luck with acting immature on this forum as you represent VRC as a supporter of it.

This reminds me of the Solicoin/Realsoild days on this forum for you kiddies who weren't around several years ago. lol Epic deja vu. Grin Grin Grin

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