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Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1349962 times)
eiskalt
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July 15, 2014, 08:50:35 PM
 #9801


People are worried that this might set precedent for other coins to respond the same. An example would be if Bitcoin did this when Mt.Gox happened.

Bitcoin has forked two times, significantly. One was in 2010 when someone was able to mint billions of Bitcoins. They had to go back 100 transactions and reset the chain. Thankfully, the network was really small then, and all the developers had to do was get to the big pools and tell them to update their codes. Bitcoin was really small, and no one cared about it, so it didn’t get much attention.

The second event was where Bitcoin was updating from, I believe, 0.7 to 0.8. People didn’t like the 0.8 change, so some people didn’t move over. Basically, they were competing on two parallel chains for a long time. Eventually, the developers decided to revert back to 0.7.

When people say we’re abusing our power, that’s fine; they can say what they want to. I don’t think of it that way, because we were going out of our way to prevent the coin from dying off. Most of the people who are critical of this are people that don’t own it and are people that want another coin to succeed. They attack every coin and right now it’s a good opportunity to attack VeriCoin.

------

There is more, read the full article @ http://www.cryptocoinsnews.com/news/vericoin-developer-speaks-ccn-mintpal-hardfork/2014/07/15



That is the mos important part.
The dev decided to make a change but the people didn't.
And in the end it was the users that decided the which chain was the right one.

Here there was decision taken by a few to protect a business , nothing more.

What are you talking about, vericoin community decided to go with the forked chain and showed support for it. Now you can FUD elsewhere.
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VeRiCoIn :)


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July 15, 2014, 08:51:46 PM
 #9802

twitter

七福神 @Li_Zhuan  ·  8m
#cryptojapan is fully behind #Vericoin. My friend write for me:
Wait until you see the full force of daikoku10crypto, li_zhuan, and crew.
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July 15, 2014, 08:53:24 PM
 #9803

someone can quickly update me about mintpal...any news?

Withdrawals being processed...no plans to open VRC/BTC market
Can I Withdrawal my VRC from MP to my wallet then?

LISK
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eiskalt
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July 15, 2014, 08:56:50 PM
 #9804

From here forward I will use 'we' as in 'crypto'

We have the ability, to undo unjust massive criminal actions.
We have the ability to stand up and fight for the rights of people.
We have the ability to make ground breaking decisions for the positive side of things finally.
We have the ability to CHOOSE if we do not like something and move on.
We have the ability to let the people determine the fate of when an exchange when they ever so blatantly disregards their own statements regarding security, by choosing to not use them.
We have the ability to not let a thief become a centralized , determining factor of a project.
We do not have to take a beating from others lacking judgement when so many could/would have been affected.
We do NOT have to mimic and or follow in the footsteps of others every move , just because 'they' would or wouldn't because they were the 1st to create an idea or movement. (yes I am implying BTC here)

We are in a revolution, and revolutionary progress, is not simply not following an old path, it requires leadership , that make fast, appropriate and responsive decisions that would affect masses, both good & bad.

I for one am proud, that the team involved with VRC, had the moral capability to step outside the box that 'some' seem trapped in, to make a difficult decision.

Walking behind others will never lead you down a new path where evolution is detrimental to success.

Everyone, enjoy your day.

that makes my day, thank you.

Maybe FUDers get it now.
sdmathis
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July 15, 2014, 09:03:21 PM
 #9805

someone can quickly update me about mintpal...any news?

Withdrawals being processed...no plans to open VRC/BTC market
Can I Withdrawal my VRC from MP to my wallet then?

Yes. I withdrew mine yesterday.

Investing123
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July 15, 2014, 09:04:54 PM
 #9806

Get your Veri own VeriCoin T-shirts and hats here!

https://shop.moolah.io/VRClothes


eiskalt
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July 15, 2014, 09:06:21 PM
 #9807

someone can quickly update me about mintpal...any news?

Withdrawals being processed...no plans to open VRC/BTC market
Can I Withdrawal my VRC from MP to my wallet then?

I withdrew my vericoins today. So yes, worked for me too.

EDIT: I have also withdrawn the vrc that I bought from bittrex - worked also very well and fast.
cryptoholic11
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July 15, 2014, 09:09:50 PM
 #9808

so will MintPal re-list VRC again?

eiskalt
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July 15, 2014, 09:15:27 PM
 #9809

so will MintPal re-list VRC again?

Do you think they will not list it again, because of all the recent FUD? VRC was one of their biggest markets before
the hack, if not the biggest.

They would be quite stupid not to list it again.

cryptoholic11
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July 15, 2014, 09:23:04 PM
 #9810

so will MintPal re-list VRC again?

Do you think they will not list it again, because of all the recent FUD? VRC was one of their biggest markets before
the hack, if not the biggest.

They would be quite stupid not to list it again.



I dont know what to think anymore about MintPal. Have you seen their last few listings when there were other much better coins they could have listed? So stupidity for them wouldnt be far out of the question.

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July 15, 2014, 09:29:16 PM
 #9811

so will MintPal re-list VRC again?

Do you think they will not list it again, because of all the recent FUD? VRC was one of their biggest markets before
the hack, if not the biggest.

They would be quite stupid not to list it again.



I dont know what to think anymore about MintPal. Have you seen their last few listings when there were other much better coins they could have listed? So stupidity for them wouldnt be far out of the question.

MintPal has been losing volume lately and has been getting desperate. I suppose that they will be even more desperate now.

eiskalt
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July 15, 2014, 09:30:42 PM
 #9812

so will MintPal re-list VRC again?

Do you think they will not list it again, because of all the recent FUD? VRC was one of their biggest markets before
the hack, if not the biggest.

They would be quite stupid not to list it again.



I dont know what to think anymore about MintPal. Have you seen their last few listings when there were other much better coins they could have listed? So stupidity for them wouldnt be far out of the question.

I suppose that is because of their voting system, which can easily be exploited. If some PnD-coin wants to be listed, the only thing they need to do is handing them over around 20 BTC. That is enough to be on top of the voting list.

It is a bad system now, but they announced to change it and stop payment votes. So maybe it will get better in the future.

EDIT: I do not want to defend mintpal here. I have withdrawn all of my VRC from there, since a hack always raises red flags. Mintpal has a lot of work to do, to restore trust.
cryptoholic11
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July 15, 2014, 09:37:09 PM
 #9813



I suppose that is because of their voting system, which can easily be exploited. If some PnD-coin wants to be listed, the only thing they need to do is handing them over around 20 BTC. That is enough to be on top of the voting list.

It is a bad system now, but they announced to change it and stop payment votes. So maybe it will get better in the future.

No, not their voting system. Im talking about their latest ninja listings like ISIS and TorCoin, while their were much better choices, both volume and coin wise.

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July 15, 2014, 09:38:40 PM
 #9814

The problem is not related individually to Mintpal. The whole exchange business is a problem. Making some math you end up understanding that an exchange like MP stores and handles several million dollars while their monthly revenues are limited to some 60-90 thousand dollars. We should support and migrate to P2P exchanges and technologies instead.
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July 15, 2014, 09:40:26 PM
 #9815

so will MintPal re-list VRC again?

Do you think they will not list it again, because of all the recent FUD? VRC was one of their biggest markets before
the hack, if not the biggest.

They would be quite stupid not to list it again.



I dont know what to think anymore about MintPal. Have you seen their last few listings when there were other much better coins they could have listed? So stupidity for them wouldnt be far out of the question.

I suppose that is because of their voting system, which can easily be exploited. If some PnD-coin wants to be listed, the only thing they need to do is handing them over around 20 BTC. That is enough to be on top of the voting list.

It is a bad system now, but they announced to change it and stop payment votes. So maybe it will get better in the future.

EDIT: I do not want to defend mintpal here. I have withdrawn all of my VRC from there, since a hack always raises red flags. Mintpal has a lot of work to do, to restore trust.

I don't think the new coins were voted in with paid votes. They announced about a week ago that they will start listing more brand new coins. It's part of their attempt to stop their volume from bleeding away.

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July 15, 2014, 09:43:01 PM
 #9816

Just wanted to say the rollback because of the Mintpal hack was one of the greatest dev moves I've seen! This coin and the devs can be trusted to care about their community! Respect!  Wink
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July 15, 2014, 09:45:18 PM
 #9817

The problem is not related individually to Mintpal. The whole exchange business is a problem. Making some math you end up understanding that an exchange like MP stores and handles several million dollars while their monthly revenues are limited to some 60-90 thousand dollars. We should support and migrate to P2P exchanges and technologies instead.

And exactly how would that work? You and me agree, through chat or e-mail, that I will transfer you 1,000 VRC for whatever amount in BTC (or other coins, fiat included). Do we use an escrow service? or is the buyer forced to trust the seller will send the coins once the irreversible transfer of payment is done?
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July 15, 2014, 09:47:59 PM
 #9818

Verigood!

Could we then agree about VRC/FIAT in the wallet is needed more than ever now?


No, not their voting system. Im talking about their latest ninja listings like ISIS and TorCoin, while their were much better choices, both volume and coin wise.


I don't think the new coins were voted in with paid votes. They announced about a week ago that they will start listing more brand new coins. It's part of their attempt to stop their volume from bleeding away.

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July 15, 2014, 10:01:14 PM
 #9819

Just wanted to say the rollback because of the Mintpal hack was one of the greatest dev moves I've seen! This coin and the devs can be trusted to care about their community! Respect!  Wink
Thief got Robin Hooded. Cheesy

That is a precedent.

vrc: VBL3M6EzwcYZWeuDpgjG9bDQzTKb4ydiDy
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July 15, 2014, 10:02:36 PM
 #9820

....
Let's make some math:
- Mintpal's daily volume was around BTC 2.5K, some BTC 5 daily revenues or US$ 2500 (based on 0.2% transaction fee)
- VRC 8M were valued at some US$1.65M
- This means some 660 days of MintPal's revenues
- Let's assume some VRC 12K coins as an average position
- This means some 660 people were holding their coins at MP

Conclusions:
1) MP would never be able to pay and would go bankrupt
2) As an immediate consequence, all 660 VRC holders would loose their money
3) With 30% of VRC coins out there available for further attacks, VRC would crash and all people holding it would loose their money

So, please, let not fool ourselves: It was not about saving MintPal. It was about saving the coin and the investors' money.

Image damage was done on all POS coins from PPC Nova..BC...XC...to VRC will surfer
and with rollback you give all POW coins golden bullet to shot in POS...
Right direction would be improve POS security to 90% resistance like NXT - not magic rollbacks.

And whole black marketing has started like that one:
http://www.reddit.com/r/litecoin/comments/2apsj7/litecoin_developers_will_never_fork_litecoin_to/ciycbhd

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