[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released

[phzi]

It's nice to see some passion from the naysayers. The louder they are, the more they reveal the importance of VRC.

It's more along the lines of naysayers are trying to save less-informed educators from falling for the utter bullshit that these supporters (aka: people that have lost money and are desperately hoping their posts will cause the value to go back up) spew about un-related bitcoin hard-forks, and massively misuse terminology to serve their own point.  You can see the un-informed and under-educated posts a mile away - they almost always have the word FUD in them in an accusatory tone against someone making a decent argument.

Look at it this way:  
I'm not for any other coin or trying to stir shit for no reason - I've never mentioned any competition in this thread, nor am I trying to further my own situation (other then maybe see my post count climb).
The people that are posting in support of this coin all have a stake in the coin, and want to see it's value increase.  Many have lost money that they are hoping to recover, and so throw nonsense words around like FUD.

Dunno about you, but I certainly know who I wouldn't be listening to...

[MAD945]

You guys really need to learn your Bitcoin history! Bitcoin had been rolledback!

8th August 2010 - 92 billion BTC into existence

On 8th August 2010 bitcoin developer Jeff Garzik wrote what could be mildly described as the biggest understatement since Apollo 13 told Houston: “We’ve had a problem here.”. “The ‘value out’ in this block is quite strange,” he wrote on bitcointalk.org, referring to a block that had somehow contained 92 billion BTC, which is precisely 91,979,000,000 more bitcoin than is ever supposed to exist. CVE-2010-5139 (CVE meaning ‘common vulnerability and exposures’) was frighteningly simple and exploited to the point of farce by an unknown attacker. In technical language, the bug is known as a number overflow error.So instead of the system counting up 98, 99, 100, 101, for example, it broke at 99 and went to zero (or -100) instead of 100. In layman’s terms, someone found a way to flood the code and create a ridiculously large amount of bitcoin in the process.

The fix was the bitcoin equivalent of dying in a video game and restarting from the last save point. The community simply hit ‘undo’, jumping back to the point in the blockchain before the hack occurred and starting anew from there; all of the transactions made after the bug was exploited – but before the fix was implemented – were effectively cancelled.

How serious was it? Bitcoin’s lead developer Wladimir Van Der Laan is pretty blunt about it, telling me: “It was the worst problem ever.”

Source1: http://www.coindesk.com/9-biggest-screwups-bitcoin-history/
Source2: https://bitcointalk.org/index.php?topic=822.0

This is a hard-fork for internal reasons, not a blockchain rollback for external reasons - HUGE difference.  It was done because the protocol wasn't implemented properly, not because some third-party exchange messed up.

Obviously you need to learn your terminology...

Bitcoin used a hard-fork, which caused that block to be invalid and unacceptable (because it was)...  Nothing was invalid or unacceptable (protocol-wise) about the block that VRC rolled back to.

There are hard-forks, forks, and blockchain rollbacks (essentially, large blockchain re-organizations).

Hard-forks are performed because there is a bug in the software that needs fixing - a fault in the software itself.
Bitcoin has had a few emergency hard-forks; 2 to be exact.  These are positive changes - they show that the developers and community are on top of things, and capable of fixing the protocol or protocol implementation when necessary.

Forks are when there are two competing blockchains - this is usually a bad thing.  Simple forks are often caused when there are protocol version conflicts, and the longer chain stops getting accepted by a set of nodes, who then branch into their own chain.  Forks are almost always a bad thing.

Blockchain rollbacks and re-orgs happen when someone 51% attacks the network, or for the first time with VRC, when devs decide to force a revert to a previous checkpoint.  Blockchain re-organizations (rollbacks) are VERY BAD.  They show that the network has NO orphan security, and that you very simply should not trust your money on that blockchain.


A fork is not a fork.  Anyone that says that has no idea what they are talking about, and you probably shouldn't believe anything else they clai

And, FFS... the big and red text doesn't make your point more valid - it just makes you look desperate.

Bitcoin did rollback the blockchain because of external reasons...a hacker had exploited a vulnerable part of the software.

You need to read that quote again...

[CodeHunter]

@ phzi

Ah so your a hero who is helping, I see  

And so much effort too. So selfless  

[phzi]

Bitcoin did rollback the blockchain because of external reasons...a hacker had exploited a vulnerable part of the software.

You need to read that quote again...

A hacker exploited a vulnerability IN the bitcoin core client - that would not be called an external problem...  Durp.

Core Client != Third Party Exchange.  Get it?

Bitcoin patched a vulnerability, which caused a rollback past the invalid block (it was an invalid block, afterall, just not detected properly). 
When you can show the vulnerability that VRC patched (they didn't...) then you can say it's the same.

Bitcoin devs patched a bug via a hard-fork.  VRC dev team FORCED a blockchain rollback.

Are you starting to see the difference, or are you going to continue to be intentionally blind?

@ phzi

Ah so your a hero who is helping, I see  

And so much effort too. So selfless  

I never said selfless - I get entertainment and a higher post count, lol.

[CodeHunter]

I get entertainment and a higher post count, lol.

Post count? Bwuahahahaha oh man. The aspie of aspies.

[MAD945]

Bitcoin did rollback the blockchain because of external reasons...a hacker had exploited a vulnerable part of the software.

You need to read that quote again...

A hacker exploited a vulnerability IN the bitcoin core client - that would not be called an external problem...  Durp.

Core Client != Third Party Exchange.  Get it?

Bitcoin patched a vulnerability, which caused a rollback past the invalid block (it was an invalid block, afterall, just not detected properly). 
When you can show the vulnerability that VRC patched (they didn't...) then you can say it's the same.

Bitcoin devs patched a bug via a hard-fork.  VRC dev team FORCED a blockchain rollback.

Are you starting to see the difference, or are you going to continue to be intentionally blind?

@ phzi

Ah so your a hero who is helping, I see  

And so much effort too. So selfless  

I never said selfless - I get entertainment and a higher post count, lol.

Thank you for confirming with me that Bitcoin Indeed performed a rollback...thank you

[brightlight]

I don't want to FUD here, but if things are so bad as some persons try to state here, who was so stupid to buy VRC with 20BTC? Shortsighted whale or just blind kiddie?

[setup]

I don't want to FUD here, but if things are so bad as some persons try to explain here, who was so stupid to buy VRC with 20BTC? Shortsighted whale or just blind kiddie?

I didn't invest 20 BTC but i've sold all my other coins and now i'm all in VRC. I'm sure it pays out.

I still don't get any payouts from the mining pool!

[brightlight]

I don't want to FUD here, but if things are so bad as some persons try to explain here, who was so stupid to buy VRC with 20BTC? Shortsighted whale or just blind kiddie?

I didn't invest 20 BTC but i've sold all my other coins and now i'm all in VRC. I'm sure it pays out.

I still don't get any payouts from the mining pool!

I am all in with my spare BTC that I had left from really bad day trading.

[eiskalt]

More miners means more hashrate meaning:
[...]
-hurts dedicated miners of the coin when we leave them with high difficulty
[...]

That is kinda part of the point of this pool... to devalue altcoins by raping them and then trading them to BTC.

So you are still in this raping business, phzi?

[Taurenchief]

There are hard-forks, forks, and blockchain rollbacks (essentially, large blockchain re-organizations).

Hard-forks are performed because there is a bug in the software that needs fixing - a fault in the software itself.
Bitcoin has had a few emergency hard-forks; 2 to be exact.  These are positive changes - they show that the developers and community are on top of things, and capable of fixing the protocol or protocol implementation when necessary.

Forks are when there are two competing blockchains - this is usually a bad thing.  Simple forks are often caused when there are protocol version conflicts, and the longer chain stops getting accepted by a set of nodes, who then branch into their own chain.  Forks are almost always a bad thing.

Blockchain rollbacks and re-orgs happen when someone 51% attacks the network, or for the first time with VRC, when devs decide to force a revert to a previous checkpoint.  Blockchain re-organizations (rollbacks) are VERY BAD.  They show that the network has NO orphan security, and that you very simply should not trust your money on that blockchain.


A fork is not a fork.  Anyone that says that has no idea what they are talking about, and you probably shouldn't believe anything else they claim to know.


Nothing I'm saying is untrue, nor attacking a specific coin.  I would make these statements about any blockchain that was re-organized like VRC was.

It's not FUD if it's true - it's sharing knowledge.  
FUD has become the most ridiculously overused buzz word in this thread.  And it's being used to discredit people who's points cannot otherwise be disproven.  So, please, keep shouting FUD at me... it's obvious you're the only one spreading bullshit when you do so.

After reading your explanation of the fork vs hard fork vs block chain roll back, I recalled the early days of vericoin.
In the first day of mining, at around 1500 blocks, there was a fork (pow stage of vericoin was a fork heaven), the developer used a hard fork to hardfork the block chain to a early block before the fork happens.

I lost about somewhere between 10000 and 12000 coins in that hard fork (I was in the hero pool, the long and main block chain, and the 0feepool was on shorter chain, and in the first day, diff was very very low). At that time, I didn't think much about the hard fork (or we can now call it a rollback). After reading this explanation, that hard fork is just a mistake and should never be done. What the developers should have done is to find the long block chain, and use that right block chain to ask miners go to miner on that chain, rather than rolling it back.

Those forks happened multiple times and i remember it was rolled back multiple times. I was always mining in the hero pool and also lost some coins during those rollbacks.

Now I think it back, the rollback after mintpal hack is not alone(it has been done multiple times before), it has shown the incompetence of the developers, looks like they don't know what they were doing and just do what they want to do, rather than following the right thing in the community.

I don't want to FUD, but I am trying to say the fact. You guys can look at my post history and tell.

[portdavenport]

If it were not for the MP issue (which is now resolved), Vericoin ("VRC") would probably be at near or sub Cloak price levels now.

As soon as the current line of updates are out in force, this coin is sure to rally.

Android Wallet
New Website
VRCRadio.com
Buy Vericoin (VRC/FIAT)
and more...

With ongoing Dev support, professional branding, promotions, social media penetration, and early retail adoption...

With some of the fastest transaction times in Crypto, it's a wonder why we are not knocking on the doorstep of Litecoin.

[hughjays77]

tic toc, tic toc

bought 1btc at 22000sat
bought 1btc at 21000sat
bought 1btc at 20000sat
bought 1btc at 19000sat [all filled ]

will buy 20btc all the way down to 1000sat if need be

too easy, see you 18 year olds in 3 weeks 6 days

[Reavon]

tic toc, tic toc

bought 1btc at 22000sat
bought 1btc at 21000sat
bought 1btc at 20000sat
bought 1btc at 19000sat [all filled ]

will buy 20btc all the way down to 1000sat if need be

too easy, see you 18 year olds in 3 weeks 6 days

I am 21 and holding,  does it mean I am grown up now? 

[setup]

I hope someone can help me with this. I have an unconfirmed transaction in my wallet. It appears since the rollback. I got the coins back from mintpal, now I want to get rid of this message (s.picture)



Second Problem is the  appearing message (s.picture). I don't know why i get a Network alert from Version 1.3.3. because i have installed 1.3.4.



I still don't get any payouts from the mining pool.

[Reavon]

Just Got a confirmation  from a famous German cryptocoin blogger he write about the Mintpal ,  vericoin incident as soon as possible.
I asked him  several days after the happening .  Follow him on twitter
@BTC_de_Blog.

[eiskalt]

(...)
I don't want to FUD, but I am trying to say the fact. You guys can look at my post history and tell.

Did that and there´s nothing in it confirming the allegations you posted here.

So for me you are most likely in the same altcoin rapist PnD group as phzi and BobBlob.

[KidenceBgd]

[portdavenport]

I hope someone can help me with this. I have an unconfirmed transaction in my wallet. It appears since the rollback. I got the coins back from mintpal, now I want to get rid of this message (s.picture)



Second Problem is the  appearing message (s.picture). I don't know why i get a Network alert from Version 1.3.3. because i have installed 1.3.4.



I still don't get any payouts from the mining pool.

What operating system are you on?

You need wallet version 1.3.3 or 1.3.4 (NB. Buy VRC in 1.3.4 is still being worked on; but this feature works in Mac/Linux).

If Windows. Have you cleared in your C:\User directory of all files and folders EXCEPT: wallet.dat, vericoin.conf, and peers.dat KEEP THESE 3 FILES (NEVER DELETE YOUR WALLET.dat file !!!!).

Path
C:\User\YOUR NAME\AppData\Roaming\Vericoin

Make sure this directory is empty only with only your Wallet.dat file in it. You can retain vericoin.conf and peers.dat if you like too (optional).

Uninstall and reinstall the App.

Check the bootstrap file for faster syncs during the installation process.

Start the wallet and watch the size of the bootstrap.dat file in the directory. This file needs to get to about 86MB in size before the application will open, and may take up to 45mins.

Allow your wallet to resync.

If you are still have issue with confirms, press the CHAT button on your wallet to enter IRC CHAT.
Say to the group members you have issues sync'ing your unconfirmed coins and somebody will help you more from there.

Good Luck.

portdavenport

[altcoinUK]

I think the most important and encouraging in the VeriCoin operation is that the devs are still interested in the project and working on adding new features. The price goes up and down, right now is down, but the hard work and the release of usable features will take care of the price increase. This is a legit dev team, as PNosker said they are real people building a real money. This transparency is a very unique attribute in the scam driven alt coin market.

Right now people are upset, but 50-100% price swing happens all the time even with real business operation. In the place Russia where I have been dealing/trading/funding IT, telecom and software companies I had experienced with a few 3000% price drop in the last 25 years, there were dead bodies all over the offices, so this is a very calm environment compared to that one, here is even the crypto-history maker scummer pumper WizRig is alive, so nothing dramatic happened here. Price drops are part of the business, even bitcoin has gone through several swing. Again, the hard work from the devs will take care of the price and the future of the coin still very bright.

Which is very encouraging to me that it seems the Devs are finally working on what really matters, the decentralized app feature. No one cares about VeriBit (why would anyone want it when we can pay with bitcoin, no wonder there is only 6 VeriBit users worldwide), the FIAT feature could be useful for a few people but nothing is innovative nor exciting in the FIAT feature, but a decentralized market place or exchange could be a game changer. Please focus on that and try to roll out at least a basic app that implements decentralized features. As you know there are incredible capable and smart people working on decentralized apps, Ethereum, Skycoin, even ViaCoin with the Counterparty inegration, etc., so the competition is fierce, that's why would be important that the Devs try to release at least a very basic but working decentralized app as soon as it is possible. As you know better than I do you compete with very smart guys like Dr. Wood from Ethereum http://www.gavwood.com/Paper.pdf , but if you have something that works (even if it is a very basic app) you can be the winner in this race.

There are many people like myself who invested a lot into VeriCoin, we are not overly worry about short term price changes and willing to invest lot more if things are going in the right direction. Please implement the decentralized feature and I guaranty you many more investment will come not from pumpers but from real investors.