damiano
Legendary
 Offline
Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
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July 24, 2014, 03:48:36 PM |
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BTC Had a rollback in 2010 and look at it now, please people do not listen to the FUD Bobsurplus is spewing all over the forum. If you have concerns please post on Veritalk.info and get real anwsers if you would like to continue watching the FUD entertainment then please stay, I think I heard somewhere that FUD is sometimes good for a coin.. any thoughts ?
This is such bullshit... You cannot compare the hard-fork that bitcoin devs and miners initiated to fix a PROTOCOL FLAW back in 2010 with VeriCoin dev's decision to bail out an exchange. God... some people are just so ignorant it's sad. It's not FUD if it's true - it's a warning. The community that fought for their coin and fought against the theft of $2 million dollars worth of investors money.
Hmmmm.....
You mean the community that was stupid enough to have 30% of a coin on one exchange? Rather than MintPal pay everyone back, they leaned on the devs to rollback the chain. It is disgraceful that the devs even considered it - period. They didn't do it to bail out an exchange. That was a symptom of the rollback, designed to save the coin from certain death. 7.5mill staking at time of attack vs 8 million stolen. Coin is dead if they don't roll back. There is an argument to "let it die then" on philosophical grounds, but they made the only decision possible for a coin with a $6million economy at the time. So if you and your friends want to "spread the truth about vericoin" or whatever reason you choose to believe to validate you posting here every 2 minutes - spread the one I've just explained to you. I understand what your saying, but do you think if 2-3k bitcoins were stolen from bitstamp they would fork and rollback the bitcoin blockchain? They wouldn't. It's very unfortunate what happened and given the situation whatever action could of been taken wasn't good. |
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creamynebula
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July 24, 2014, 03:49:42 PM |
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hey, was 1.3.4 a hard-fork inducing update or can I stay on 1.3.3 if I dont care to use veribit and etc now?
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thekidt
Newbie
Offline
Activity: 23
Merit: 0
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July 24, 2014, 03:50:27 PM |
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There are over 10mil coins staking. I don't understand the panicking
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effectsToCause (OP)
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July 24, 2014, 03:51:08 PM |
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Guys and Gals,
This kind of price drop has happened to us three or four times already since launch, take a look at the charts. These market fluctuations occur with this and all coins. If you look at the rich list it is undisturbed. There is panic sellers and they are relatively small holders, 10 million coins staking and so on. This is not to say holding doesn't require will, it does, but if you believe it's the right coin, long term holding has the best financial reward.
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thekidt
Newbie
Offline
Activity: 23
Merit: 0
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July 24, 2014, 03:52:07 PM |
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BTC Had a rollback in 2010 and look at it now, please people do not listen to the FUD Bobsurplus is spewing all over the forum. If you have concerns please post on Veritalk.info and get real anwsers if you would like to continue watching the FUD entertainment then please stay, I think I heard somewhere that FUD is sometimes good for a coin.. any thoughts ?
This is such bullshit... You cannot compare the hard-fork that bitcoin devs and miners initiated to fix a PROTOCOL FLAW back in 2010 with VeriCoin dev's decision to bail out an exchange. God... some people are just so ignorant it's sad. It's not FUD if it's true - it's a warning. The community that fought for their coin and fought against the theft of $2 million dollars worth of investors money.
Hmmmm.....
You mean the community that was stupid enough to have 30% of a coin on one exchange? Rather than MintPal pay everyone back, they leaned on the devs to rollback the chain. It is disgraceful that the devs even considered it - period. They didn't do it to bail out an exchange. That was a symptom of the rollback, designed to save the coin from certain death. 7.5mill staking at time of attack vs 8 million stolen. Coin is dead if they don't roll back. There is an argument to "let it die then" on philosophical grounds, but they made the only decision possible for a coin with a $6million economy at the time. So if you and your friends want to "spread the truth about vericoin" or whatever reason you choose to believe to validate you posting here every 2 minutes - spread the one I've just explained to you. I understand what your saying, but do you think if 2-3k bitcoins were stolen from bitstamp they would fork and rollback the bitcoin blockchain? They wouldn't. It's very unfortunate what happened and given the situation whatever action could of been taken wasn't good. 2-3k? Make it 2-3mil and it might be comparable. I'll bet BTC wouldn't be around if a single person snatched up that many |
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Xosihc
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July 24, 2014, 03:55:30 PM |
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As long as the dev team stays committed to improving the coin's features and making Vericoin the best possible coin out there everything will be ok.
For those of you who went all in - this is a learning opportunity. You made a mistake and that's fine. The important question to ask is whether or not you learned from it? Whenever you decide to end your relationship with Vericoin and finally sell out, whether its this week or next year. Will you make he same mistake again and put all your money into the next "this is the one" idea? As long as you can take something away from this experience it will be worth the lesson learned. Hopefully things will make a turn for the better, I'm confident they will. So perhaps this is just a low point in what will later be a very successful project. Even if the coin turns things around and ends up breaking through ask yourself if this fear and anxiety was worth taking the risk? Sometimes even when you make a profit, the money doesn't justify the agony of the journey. Stay diversified.
Luckily for myself as well as my friends we only invested as much money as we could afford to lose. I got a few close personal friends of mine to invest in VRC as well as some family members. I can't tell you how many times i emphasized to them the fact they have a really good chance of losing everything. Not 1 in 100 -- not 1 in 10 -- more like a 1 in 2 chance. But they also have the opportunity to make 1000% return, which is an opportunity that is very difficult to accomplish anywhere else. I told every person I got to invest in this coin "when you hand me over this money you have to assume you will never see it again." As a result no one I got to invest is even slightly upset about what has unfolded. And let me tell you, some of my friends invested a loooooooooot of money. Sure we are all bummed we're currently down (on paper) but by setting realistic expectations it has minimized the pain for us all and we are all able to sleep easy knowing this probably was going to happen.
On a final note. When I first started in the investment industry a few years ago. I came across a quote which has forever stood with me. I have it written on a piece of scratch paper, hanging on a frame in my office.
"Be an owner, not a loaner. Don't try to time the market. Don't panic. Stay diversified."
#panichold4life
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FryguyUK
Legendary
Offline
Activity: 801
Merit: 1000
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July 24, 2014, 04:04:27 PM |
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BTC Had a rollback in 2010 and look at it now, please people do not listen to the FUD Bobsurplus is spewing all over the forum. If you have concerns please post on Veritalk.info and get real anwsers if you would like to continue watching the FUD entertainment then please stay, I think I heard somewhere that FUD is sometimes good for a coin.. any thoughts ?
This is such bullshit... You cannot compare the hard-fork that bitcoin devs and miners initiated to fix a PROTOCOL FLAW back in 2010 with VeriCoin dev's decision to bail out an exchange. God... some people are just so ignorant it's sad. It's not FUD if it's true - it's a warning. The community that fought for their coin and fought against the theft of $2 million dollars worth of investors money.
Hmmmm.....
You mean the community that was stupid enough to have 30% of a coin on one exchange? Rather than MintPal pay everyone back, they leaned on the devs to rollback the chain. It is disgraceful that the devs even considered it - period. They didn't do it to bail out an exchange. That was a symptom of the rollback, designed to save the coin from certain death. 7.5mill staking at time of attack vs 8 million stolen. Coin is dead if they don't roll back. There is an argument to "let it die then" on philosophical grounds, but they made the only decision possible for a coin with a $6million economy at the time. So if you and your friends want to "spread the truth about vericoin" or whatever reason you choose to believe to validate you posting here every 2 minutes - spread the one I've just explained to you. I understand what your saying, but do you think if 2-3k bitcoins were stolen from bitstamp they would fork and rollback the bitcoin blockchain? They wouldn't. It's very unfortunate what happened and given the situation whatever action could of been taken wasn't good. main difference is fella bitcoin is being used globally for purchases and the like, if they rolled back for mtgox they could have squandered just as much in the blockchain which were being spent after the hack. VRC being an alt-coin without widespread adoption whatsoever the rollback isn't bad, as bad as a fork, as bad as what most other alts do - except here the devs acted on a decision fast enough to save the coin and not squander money. Next you will want a decentralized presidency. |
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FryguyUK
Legendary
Offline
Activity: 801
Merit: 1000
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July 24, 2014, 04:07:27 PM |
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BTC Had a rollback in 2010 and look at it now, please people do not listen to the FUD Bobsurplus is spewing all over the forum. If you have concerns please post on Veritalk.info and get real anwsers if you would like to continue watching the FUD entertainment then please stay, I think I heard somewhere that FUD is sometimes good for a coin.. any thoughts ?
This is such bullshit... You cannot compare the hard-fork that bitcoin devs and miners initiated to fix a PROTOCOL FLAW back in 2010 with VeriCoin dev's decision to bail out an exchange. God... some people are just so ignorant it's sad. It's not FUD if it's true - it's a warning. The community that fought for their coin and fought against the theft of $2 million dollars worth of investors money.
Hmmmm.....
You mean the community that was stupid enough to have 30% of a coin on one exchange? Rather than MintPal pay everyone back, they leaned on the devs to rollback the chain. It is disgraceful that the devs even considered it - period. They didn't do it to bail out an exchange. That was a symptom of the rollback, designed to save the coin from certain death. 7.5mill staking at time of attack vs 8 million stolen. Coin is dead if they don't roll back. There is an argument to "let it die then" on philosophical grounds, but they made the only decision possible for a coin with a $6million economy at the time. So if you and your friends want to "spread the truth about vericoin" or whatever reason you choose to believe to validate you posting here every 2 minutes - spread the one I've just explained to you. I understand what your saying, but do you think if 2-3k bitcoins were stolen from bitstamp they would fork and rollback the bitcoin blockchain? They wouldn't. It's very unfortunate what happened and given the situation whatever action could of been taken wasn't good. 2-3k? Make it 2-3mil and it might be comparable. I'll bet BTC wouldn't be around if a single person snatched up that many Nobody would have touched it, think the winklevosses would fund BTC if at this point 1/3 of the coins (8 billion cap) would be in the hands even potentially of a terrorist... yah, nobody would touch it and the technology would be DEAD from the media. |
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Jootje
Member
Offline
Activity: 71
Merit: 10
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July 24, 2014, 04:11:35 PM |
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Really hurts seeing vericoin @15000. Unbelievable what twitter(amongst other things) can do to a legit coin even with this team behind it.  |
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altcoinUK
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July 24, 2014, 04:14:26 PM |
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Guys and Gals,
This kind of price drop has happened to us three or four times already since launch, take a look at the charts. These market fluctuations occur with this and all coins. If you look at the rich list it is undisturbed. There is panic sellers and they are relatively small holders, 10 million coins staking and so on. This is not to say holding doesn't require will, it does, but if you believe it's the right coin, long term holding has the best financial reward.
Personally I am not worry about price fluctuations, yeah that happens even with bitcoin all the time. I'am a bit disturbed about your association with the scammer wizrig who according to you just brought good things to the table. Yeah we remember the hype making talk 3 days before he dump about Miami party with celebrities, the contract wit the PR company, the worldwide media campaign, making crypto-history which was presented for us by the vericoin team. Obviously it was just making the hype before the dump - but OK, I assume you were just naive, naively you let at the table the scammer wizrig who used that opprtunity to make the hype and dump, I guess you are inexperienced and made a mistake, lets forget it. Which I am more interested is what's your plans if any to move the project forward? Is there any chances you would share any details about the decentralized app, how, what and when are you going to develop? Thanks in advance for the info! |
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ScottAllyn
Full Member
Offline
Activity: 236
Merit: 100
¿ʇɐɥʍ
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July 24, 2014, 04:15:09 PM |
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[...]
I understand what your saying, but do you think if 2-3k bitcoins were stolen from bitstamp they would fork and rollback the bitcoin blockchain?
They wouldn't. They wouldn't because the scenario is very different. Bitcoin is a mature coin with a vast distribution and an enormous daily volume. There are a LOT of merchants and services that accept Bitcoin as payment. Such a rollback would affect tens of thousands of users and many of those merchants and services would instantly lose the currency that they received for merchandise delivered / services rendered; it'd be a disaster. In the case of VeriCoin, with it's limited distribution, small handful of vendors (none of which had any transactions at the time), and relatively low volume, the effect of the rollback was negligible. For most, it was nothing more than an annoyance due to the fact that a new wallet had to be installed. If VeriCoin were a more mature coin, the likelihood of 8M coins being in a single wallet would be extremely small, but if a theft like this DID happen at that point, the Devs would never even consider a rollback like this. |
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snakesoft33
Member
Offline
Activity: 67
Merit: 10
I AM HERE TO SEE THE NEW WORLD ORDER!!!!
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July 24, 2014, 04:16:15 PM |
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DON'T PANIC, AN LISTEN: WHAT IS HAPPENING NOW IT'S A COORDINATED ATTACK FROM ONE EXCHANGE IN THIS CASE BITTREX... THEIR GOAL IS 25 % OF AL VERICOIN, AND 65% OF ALL BITCOIN INVESTMENTS IN VERICOIN.. BE AWERE.. THEY ARE TRAYING TO INDUCE DEFAULTS SALES BY FEAR.
TRADE IN SAFE!!!
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effectsToCause (OP)
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July 24, 2014, 04:18:03 PM |
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hey, was 1.3.4 a hard-fork inducing update or can I stay on 1.3.3 if I dont care to use veribit and etc now?
1.3.4 was not a hard fork, just a buy now button |
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libertynow
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July 24, 2014, 04:18:57 PM |
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DON'T PANIC, AN LISTEN: WHAT IS HAPPENING NOW IT'S A COORDINATED ATTACK FROM ONE EXCHANGE IN THIS CASE BITTREX... THEIR GOAL IS 25 % OF AL VERICOIN, AND 65% OF ALL BITCOIN INVESTMENTS IN VERICOIN.. BE AWERE.. THEY ARE TRAYING TO INDUCE DEFAULTS SALES BY FEAR.
TRADE IN SAFE!!!
Do you have any proof of this? |
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yoshiwatusi
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July 24, 2014, 04:19:43 PM |
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so tell me.. is this coin being dumped into oblivion? is still there hope for this coin? honest question
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Burninj
Legendary
Offline
Activity: 1148
Merit: 1000
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July 24, 2014, 04:26:49 PM |
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so tell me.. is this coin being dumped into oblivion? is still there hope for this coin? honest question
Yup like all full pos scam coins |
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FryguyUK
Legendary
Offline
Activity: 801
Merit: 1000
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July 24, 2014, 04:28:00 PM |
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DON'T PANIC, AN LISTEN: WHAT IS HAPPENING NOW IT'S A COORDINATED ATTACK FROM ONE EXCHANGE IN THIS CASE BITTREX... THEIR GOAL IS 25 % OF AL VERICOIN, AND 65% OF ALL BITCOIN INVESTMENTS IN VERICOIN.. BE AWERE.. THEY ARE TRAYING TO INDUCE DEFAULTS SALES BY FEAR.
TRADE IN SAFE!!!
Do you have any proof of this? so many chunky top 100 wallets must be the easiest inside shakedown so far in cryptos |
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libertynow
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July 24, 2014, 04:28:21 PM |
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so tell me.. is this coin being dumped into oblivion? is still there hope for this coin? honest question
Just read the last few pages. Dev's are still here working hard and promoting the coin. I don't know why it's dumping, but I've been buying all the way down. I have a small 25k buy wall on Bittrex right now @ 15008 if anyone wants to join me to shore up Bittrex a little bit. |
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creamynebula
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July 24, 2014, 04:30:01 PM |
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hey, was 1.3.4 a hard-fork inducing update or can I stay on 1.3.3 if I dont care to use veribit and etc now?
1.3.4 was not a hard fork, just a buy now button Thanks, now get back to coding useful things and forget about people and their panicking lol. |
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yoshiwatusi
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July 24, 2014, 04:30:32 PM |
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so tell me.. is this coin being dumped into oblivion? is still there hope for this coin? honest question
Just read the last few pages. Dev's are still here working hard and promoting the coin. I don't know why it's dumping, but I've been buying all the way down. I have a small 25k buy wall on Bittrex right now @ 15008 if anyone wants to join me to shore up Bittrex a little bit. ill join you |
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