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

[FryguyUK]

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.

[FryguyUK]

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.

[Jootje]

Really hurts seeing vericoin @15000. Unbelievable what twitter(amongst other things) can do to a legit coin even with this team behind it.

[altcoinUK]

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!

[ScottAllyn]

[...]

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.

[snakesoft33]

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!!!

[effectsToCause]

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

[libertynow]

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?

[yoshiwatusi]

so tell me.. is this coin being dumped into oblivion? is still there hope for this coin? honest question

[Burninj]

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

[FryguyUK]

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

[libertynow]

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.

[creamynebula]

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.

[yoshiwatusi]

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

[raffern]

Yum! Cheap VRC! and you sold into my 15k wall too cheers! 

[phzi]

Is there something wrong with VeriCoin, again?

Ya - nobody will ever trust a blockchain that was rolledback under the circumstances that happened with VRC and MintPal.

[libertynow]

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

Crap, we're taking heavy fire.  Half by wall just got blasted.  Anybody else join us?  Need reinforcements!

[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.

Nobody care to reply to my post, except one guy sees what i said as FUD
Anybody want to comment on it?

[FryguyUK]

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.

Nobody care to reply to my post, except one guy sees what i said as FUD
Anybody want to comment on it?

seen these fud names before too many times

P.S it would be incompetent of the devs to do nothing. All these coins are bitcoin tech with new features or other bullcrap, it's the most active and progressive devs that make the worth. Vericoin devs try things and aren't afraid of criticism.

[pingdigi]

Happy to see the panic building by the price drop. Please continue to dump your Vericoins so I can buy them at bargain prices!

Look, the whole rollback debate is moot. Any coin can do it. To those who spout nonsense like "philosophically it's wrong", you are being naive. Only when it's technically impossible to rollback the blockchain will the problem be solved. Until then we are no better than governments who promise not to print more money, but then do because of political pressure.

Vericoin is the only coin I'm aware of that has all of these features:
  - the developers are public with their identities
  - the coin pays interest when you're saving coins (Staking)
  - truly anonymous transactions (VeriSend)
  - can be sent via SMS to any one of the billions of cellphones on the planet (VeriSMS)
  - can be used wherever BitCoins are accepted (VeriBit)

There are coins that have some of the things on this list, but not all. As other coins try and play catch-up, do you think the devs are going to stand still? No, I don't think so either. This list is going to get longer and longer, and the reasons to hold most other coins fewer and fewer.