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

[CryptoLTD]

In regards to fiat purchases of VRC, you dont even need to use moolah. You can buy BTC on Cryptsy with fiat Cryptsy is FinCEN licensed, then buy VRC. Infact you can buy 100's of alts there (if you chose to with fiat), somthing that no other US based exchange has that I am aware of.

[Monkeys]

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

Why exactly would that be?

[Coinler]

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

please explain more exactly how this defrauding will occur in your view?

[phzi]

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

Why exactly would that be?

Uh, what part he's missing, I couldn't tell you. But, performing an irreversible transaction (e.g. sending crypto) on the basis of payment via a reversible medium (e.g. credit card) is about as dumb as it gets in taking payments?

Although... maybe VRC devs will just offer rollbacks of the blockchain to reverse fraudulent VRC purchases with credit cards.  hahaha... ya.... *sigh*

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

please explain more exactly how this defrauding will occur in your view?

You've heard of credit card fraud before... right?

[Coinler]

In regards to fiat purchases of VRC, you dont even need to use moolah. You can buy BTC on Cryptsy with fiat Cryptsy is FinCEN licensed, then buy VRC. Infact you can buy 100's of alts there (if you chose to with fiat), somthing that no other US based exchange has that I am aware of.

you actually have to tell them this? who doesnt know cryptsy is fincen licensed? theyve improved their service greatly over time i must say.

[sdmathis]

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

The coding is easy. It's the legal issues and red tape that's the problem.

[Coinler]

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

Why exactly would that be?

Uh, what part he's missing, I couldn't tell you. But, performing an irreversible transaction (e.g. sending crypto) on the basis of payment via a reversible medium (e.g. credit card) is about as dumb as it gets in taking payments?

Although... maybe VRC devs will just offer rollbacks of the blockchain to reverse fraudulent VRC purchases with credit cards.  hahaha... ya.... *sigh*

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

please explain more exactly how this defrauding will occur in your view?

You've heard of credit card fraud before... right?

ohh man that is ridiculous. are you familiar with various creditcard merchant technologies and their verification process? there are many ways to ensure that a creditcard isnt being fraudulently used and it's all a matter of the merchant verification process chosen. via insecure cards maybe yeah, but guess what.. u can disallow insecure card purchases and only accept secure ones. not rocket science.

[Monkeys]

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

Why exactly would that be?

Uh, what part he's missing, I couldn't tell you. But, performing an irreversible transaction (e.g. sending crypto) on the basis of payment via a reversible medium (e.g. credit card) is about as dumb as it gets in taking payments?

Although... maybe VRC devs will just offer rollbacks of the blockchain to reverse fraudulent VRC purchases with credit cards.  hahaha... ya.... *sigh*

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

please explain more exactly how this defrauding will occur in your view?

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

[Coinler]

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

Why exactly would that be?

Uh, what part he's missing, I couldn't tell you. But, performing an irreversible transaction (e.g. sending crypto) on the basis of payment via a reversible medium (e.g. credit card) is about as dumb as it gets in taking payments?

Although... maybe VRC devs will just offer rollbacks of the blockchain to reverse fraudulent VRC purchases with credit cards.  hahaha... ya.... *sigh*

*sigh* this is a dead horse that will never stop getting beaten the "proper fiat/wallet purchase implementation" that you speak of is, at this moment, IMPOSSIBLE to achieve since it requires SEVERAL HUNDRED THOUSAND AMERICAN DOLLARS to get LICENSED by FINCen to enable this. SOOOO either drop it or cough up the couple hundred thousand dollars needed to achieve this....

i dont know about that exactly. there may be other ways. as someone who has worked in the Point of Sale industry for years it's not impossible to get coding done that implements credit/debitcard to a cryptocurrency. i actually know devs who are capable of making this happen with full integration for barcode systems at checkout counters etc. since cryptocurrencies are considered a commodity it's much like buying a carton of milk in this regard using magnetic stripe readers etc that integrate with the banking system. itll just take a significant amount of preplanning.. but to state its impossible shows a lack of knowledge in this arena. just saying.

If you implement credit to crypto, you're going to get defrauded left, right, and center...  I think you're sorely missing something here if you honestly think you could pull that off and not lose all of your money.

please explain more exactly how this defrauding will occur in your view?

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

i blame flouride in the water supply LOL

[Shill]

What's the next milestone for VRC?

Hopefully #VeriBank. Fingers crossed.

[phzi]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

[Monkeys]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

I'm talking about identity verification, not 2FA or any of that 'security' jazz. Though I believe that it is also important to have these in place.

With identity verification, the "merchant" (in this case Vericoin) would be able to win chargeback disputes by being able to provide proof that the card holder did indeed make the purchase and that the purchase was in fact genuine.

Simple.

[sdmathis]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

I'm talking about identity verification, not 2FA or any of that 'security' jazz. Though I believe that it is also important to have these in place.

With identity verification, the "merchant" (in this case Vericoin) would be able to win chargeback disputes by being able to provide proof that the card holder did indeed make the purchase and that the purchase was in fact genuine.

Simple.

The developers already said that they are not going to do it. They will be using third parties such as Moolah.

[socal]

also I was saying the regulatory/licensing portion is impossible without massive fiat reserves, not the coding portion

[Coinler]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

vericoin may have chosen to use a 3rd party. but doesnt that mean "not impossible"?

anyway it's past my bedtime/movietime so im off for now.

[socal]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

why didn't you take the money and run? lol j/k

[Coinler]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

why didn't you take the money and run? lol j/k

hhahah that joke ive heard so many times by basically everyone that's been in one of these rooms lol

[Monkeys]

also I was saying the regulatory/licensing portion is impossible without massive fiat reserves, not the coding portion

The original scope of the implementation requiring FINCen licensing is not feasible at this stage I agree.

There are however, other ways to provide VRC in exchange for FIAT within the wallet without using Moolah or any other exchange directly.

If you could accept credit card payments within the wallet, VRC could be purchased from a 'fund' (Verifund perhaps?) at a close approximation of the current exchange rate minus a small processing fee, and the FIAT from the credit transaction could then be used to later purchase more VRC from an exchange to keep the fund 'topped up'.

Now I'm not an expert in finance or law by any means, but I don't believe that this would require FINCen licensing like Cryptsy has.

[socal]

You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.

You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

well im not here to teach you about creditcard merchant and banking technologies so if that is your view then what can i say but, you are welcome to your opinion. keep saying it's impossible, you'll believe it eventually. experienced point of sale and financial sector worker here who's worked in rooms with millions of dollars sitting next to me in cash.. but hey what do i know. if you try any creditcard fraud though via my implementation, you'll find cops at your door no matter what country u live in.

why didn't you take the money and run? lol j/k

hhahah that joke ive heard so many times by basically everyone that's been in one of these rooms lol

lol ya wouldn't get far I assume, but hey glad you are here with us

[socal]

also I was saying the regulatory/licensing portion is impossible without massive fiat reserves, not the coding portion

The original scope of the implementation requiring FINCen licensing is not feasible at this stage I agree.

There are however, other ways to provide VRC in exchange for FIAT within the wallet without using Moolah or any other exchange directly.

If you could accept credit card payments within the wallet, VRC could be purchased from a 'fund' (Verifund perhaps?) at a close approximation of the current exchange rate minus a small processing fee, and the FIAT from the credit transaction could then be used to later purchase more VRC from an exchange to keep the fund 'topped up'.

Now I'm not an expert in finance or law by any means, but I don't believe that this would require FINCen licensing like Cryptsy has.

hmmmm im not sure im not a lawyer but if this is feasible then perhaps its worth taking a look at but yes chargebacks would be a major concern