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ereborltc
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November 16, 2014, 10:25:13 AM |
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I think he's talking about the VRC that Pnosker gave to IE. Shortly thereafter, IE made a half-assed effort to promote VeriCoin.
If thats what ppl are talking about thats insane that was months ago and thats nothing new... old news... Why a new account just to tell me that? |
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lazardinvestment
Newbie
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Activity: 19
Merit: 0
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November 16, 2014, 10:36:48 AM |
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Thats correct.
Your Dev, believed that Iconic Expert was going to bring some 'serious investors' to Vericoin and along with lots of other BS IE speaks. Mr Nosker fell for it, hook line and sinker. And even gave thousands of coins to IE.
Now you had Mr Nosker even verify IE's scam coin, seriously, wake up people!
In Business when you are a honest and well respected person, you are not going to work with a 'company' that seeks the help of people who are dishonest, its as simple as that.
Also, the whole mintpal thing, rolling back vericoin, because of a 'hack' that is highly suspicious, to say the least.
Also, vericoin started with 26million coins. Now they have a extra 907k all from minting, do the math (i would say since it launched around 300k would be the max from minting, leaving a extra 600k minted from the hack)! You can clearly see there was a flaw in variable interest that allowed people to mint a 'insane' amount of coins extra per day.
Normal minting would produce say 3-10 coins, depending on your balance, these guys who found a way to hack this variable interest, were minting a extra 1,000 coins a day. I believe ioCoin and Arch coin always suffered from this hack, but when checking iocoin they have only a extra 134k (with about 40k from true minting) leaving around 90k extra from the hack, but they seemed to act the quickest to stop it.
Looking at Arch coin, who vericoin 'helped' they started with 16mill, but now have 229k more, this coin was only made Aug24th ! so only 30k should of been minted, you can say they got hacked from around 200k.
Not to mention the other deals that go on that people are yet to find out about, but they will. Oh yeah, Supernet, you're in a for bad surprsie with that.
At the end of the day, crypto is the most shady business ever invented, but there are honest people trying to do good things, like the dogecoin dev and community and a few others.
People work damned hard to earn money and even when doing research you never truly know whats going on behind the scenes. Crypto needs a big clean up if it is to survive, which, thanks to all these Con Artists who are stealing from people, it is not looking good for crypto.
Another thing, when investing, stay clear of coins that have 'moderated threads' or keep closing threads and making others, all they are doing is hiding facts and trying to make it hard for anyone to see the crimes being committed.
The worst thing about all of this, vericoin actually looked like a good honest coin when it first came onto the scene, how things change when money is involved. Regarding the price, NO alt coin ever goes up high (like vericoin did) and stays there. Look at blackcoin, that reached what 70/80k?
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ereborltc
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November 16, 2014, 11:41:02 AM |
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Thats correct.
Your Dev, believed that Iconic Expert was going to bring some 'serious investors' to Vericoin and along with lots of other BS IE speaks. Mr Nosker fell for it, hook line and sinker. And even gave thousands of coins to IE.
Now you had Mr Nosker even verify IE's scam coin, seriously, wake up people!
In Business when you are a honest and well respected person, you are not going to work with a 'company' that seeks the help of people who are dishonest, its as simple as that.
Also, the whole mintpal thing, rolling back vericoin, because of a 'hack' that is highly suspicious, to say the least.
Also, vericoin started with 26million coins. Now they have a extra 907k all from minting, do the math (i would say since it launched around 300k would be the max from minting, leaving a extra 600k minted from the hack)! You can clearly see there was a flaw in variable interest that allowed people to mint a 'insane' amount of coins extra per day.
Normal minting would produce say 3-10 coins, depending on your balance, these guys who found a way to hack this variable interest, were minting a extra 1,000 coins a day. I believe ioCoin and Arch coin always suffered from this hack, but when checking iocoin they have only a extra 134k (with about 40k from true minting) leaving around 90k extra from the hack, but they seemed to act the quickest to stop it.
Looking at Arch coin, who vericoin 'helped' they started with 16mill, but now have 229k more, this coin was only made Aug24th ! so only 30k should of been minted, you can say they got hacked from around 200k.
Not to mention the other deals that go on that people are yet to find out about, but they will. Oh yeah, Supernet, you're in a for bad surprsie with that.
At the end of the day, crypto is the most shady business ever invented, but there are honest people trying to do good things, like the dogecoin dev and community and a few others.
People work damned hard to earn money and even when doing research you never truly know whats going on behind the scenes. Crypto needs a big clean up if it is to survive, which, thanks to all these Con Artists who are stealing from people, it is not looking good for crypto.
Another thing, when investing, stay clear of coins that have 'moderated threads' or keep closing threads and making others, all they are doing is hiding facts and trying to make it hard for anyone to see the crimes being committed.
The worst thing about all of this, vericoin actually looked like a good honest coin when it first came onto the scene, how things change when money is involved. Regarding the price, NO alt coin ever goes up high (like vericoin did) and stays there. Look at blackcoin, that reached what 70/80k?
If all that is true about the minting, why is that a scam move? Doesn't mean its the devs action, just means it was flawed/vulnerable to hacks. You mentioned it also happened to IOC but that doesn't seem to bother you, how come? These complications are bound to happen especially at such an early stage of a coins life. Im pretty sure their actually working on something right now that will make POS much better and safer which will change the way POS is done on every proof of stake coin. SuperNet i "believe" has good intentions just from all the progress it keeps delivering, you can literally watch james daily updates of his work, But everything is a gamble when it come to things like this. Only time will tell for this one unless you know something first hand ? The whole IE fuss is irrelevant imo since it was so long ago and was literally at the birth stage of vrc, I'm sure the devs themselves have learnt a lot since vericoins creation. |
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altcoinUK (OP)
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November 16, 2014, 12:03:26 PM |
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Thats correct.
Your Dev, believed that Iconic Expert was going to bring some 'serious investors' to Vericoin and along with lots of other BS IE speaks. Mr Nosker fell for it, hook line and sinker. And even gave thousands of coins to IE.
Now you had Mr Nosker even verify IE's scam coin, seriously, wake up people!
In Business when you are a honest and well respected person, you are not going to work with a 'company' that seeks the help of people who are dishonest, its as simple as that.
Also, the whole mintpal thing, rolling back vericoin, because of a 'hack' that is highly suspicious, to say the least.
Also, vericoin started with 26million coins. Now they have a extra 907k all from minting, do the math (i would say since it launched around 300k would be the max from minting, leaving a extra 600k minted from the hack)! You can clearly see there was a flaw in variable interest that allowed people to mint a 'insane' amount of coins extra per day.
Normal minting would produce say 3-10 coins, depending on your balance, these guys who found a way to hack this variable interest, were minting a extra 1,000 coins a day. I believe ioCoin and Arch coin always suffered from this hack, but when checking iocoin they have only a extra 134k (with about 40k from true minting) leaving around 90k extra from the hack, but they seemed to act the quickest to stop it.
Looking at Arch coin, who vericoin 'helped' they started with 16mill, but now have 229k more, this coin was only made Aug24th ! so only 30k should of been minted, you can say they got hacked from around 200k.
Not to mention the other deals that go on that people are yet to find out about, but they will. Oh yeah, Supernet, you're in a for bad surprsie with that.
At the end of the day, crypto is the most shady business ever invented, but there are honest people trying to do good things, like the dogecoin dev and community and a few others.
People work damned hard to earn money and even when doing research you never truly know whats going on behind the scenes. Crypto needs a big clean up if it is to survive, which, thanks to all these Con Artists who are stealing from people, it is not looking good for crypto.
Another thing, when investing, stay clear of coins that have 'moderated threads' or keep closing threads and making others, all they are doing is hiding facts and trying to make it hard for anyone to see the crimes being committed.
The worst thing about all of this, vericoin actually looked like a good honest coin when it first came onto the scene, how things change when money is involved. Regarding the price, NO alt coin ever goes up high (like vericoin did) and stays there. Look at blackcoin, that reached what 70/80k?
I think you brought up a very important point about the interest rate manipulation. We need a clarification from the developers whether your assumption about that manipulation is true or not. Better if the devs stop that childish attitude that they don't talk to the critics, they talk only to delusional cheerleaders, come here and clear the air about what lazard said. |
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altcoinUK (OP)
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November 16, 2014, 12:20:40 PM |
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The whole IE fuss is irrelevant imo since it was so long ago and was literally at the birth stage of vrc, I'm sure the devs themselves have learnt a lot since vericoins creation.
Yeah, they have learned and I am sure they would handle many moves very differently, but I have to echo what lazard said about Pnosker. As I said above the devs are sort of honest guys, what I meant with that "sort of" was exactly same what lazard implies. I certainly don't say Patrick is a scammer or con artist in the sense of real scammers like how BitBay operates, I don't say that Patrick masterminded a scam with VeriCoin, not at all, but only the blind can't see by now that Patrick has a very-very shady side, which was not obvious to people at the beginning when they invested in this coin. In my opinion the most important issue with Patrick - which issue is on the border line with scam - that he presented his team as a group of professional developers that is committed to the coin and included in that group Dave - who then since the start is non existent. Patrick sent the following message to investors: we are scientists plus we have a Microsoft developer and we are here for real and for the long term. Any investors would think, if a Microsoft developer put his reputation on the line then it must be a serious venture. Now as we can see the commitment is not real. You can twist it whatever you want, but that was a calculated baby-scammer move, lets present Dave as part of the team, lets gain the trust of the investors with a professional team image that includes a Microsoft developer, and then lets dump our mined shit on the market. That happened, we both know that. |
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JackRipper
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November 16, 2014, 02:29:23 PM |
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Why a new account just to tell me that?
I tried using ESP, but the message didn't go through, so I had to sign up for an account and post the answer. It turns out that when you sign up, you automatically get a new account. Otherwise I would have used an old account. |
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altcoinUK (OP)
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November 16, 2014, 04:05:18 PM |
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Also, vericoin started with 26million coins. Now they have a extra 907k all from minting, do the math (i would say since it launched around 300k would be the max from minting, leaving a extra 600k minted from the hack)! You can clearly see there was a flaw in variable interest that allowed people to mint a 'insane' amount of coins extra per day.
If that's true then this is a theft and PNosker, EffectsToCause are scammers. Lets hear the facts from the developers. |
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JackRipper
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November 16, 2014, 04:39:19 PM
Last edit: November 16, 2014, 05:05:44 PM by JackRipper |
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Also, vericoin started with 26million coins. Now they have a extra 907k all from minting, do the math (i would say since it launched around 300k would be the max from minting, leaving a extra 600k minted from the hack)! You can clearly see there was a flaw in variable interest that allowed people to mint a 'insane' amount of coins extra per day.
If that's true then this is a theft and PNosker, EffectsToCause are scammers. Lets hear the facts from the developers. There were over 26,700,000 mined during the POW phase https://bitcointalk.org/index.php?topic=602041.msg6789922#msg6789922There were no extra coins generated from staking. According to EffectsToCause, no more than 500 coins were generated through this exploit. |
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altcoinUK (OP)
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November 16, 2014, 04:52:29 PM |
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Also, vericoin started with 26million coins. Now they have a extra 907k all from minting, do the math (i would say since it launched around 300k would be the max from minting, leaving a extra 600k minted from the hack)! You can clearly see there was a flaw in variable interest that allowed people to mint a 'insane' amount of coins extra per day.
If that's true then this is a theft and PNosker, EffectsToCause are scammers. Lets hear the facts from the developers. There were over 26,700,000 mined during the POW phase https://bitcointalk.org/index.php?topic=602041.msg6789922#msg6789922There were no extra coins generated from staking. Ah OK, that's great, at least that's not an issue and in this case PNosker and EffectsToCause are not in the league of the ICO scammers and other con artists. |
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JackRipper
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November 16, 2014, 05:04:09 PM |
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Also, vericoin started with 26million coins. Now they have a extra 907k all from minting, do the math (i would say since it launched around 300k would be the max from minting, leaving a extra 600k minted from the hack)! You can clearly see there was a flaw in variable interest that allowed people to mint a 'insane' amount of coins extra per day.
If that's true then this is a theft and PNosker, EffectsToCause are scammers. Lets hear the facts from the developers. There were over 26,700,000 mined during the POW phase https://bitcointalk.org/index.php?topic=602041.msg6789922#msg6789922There were no extra coins generated from staking. Ah OK, that's great, at least that's not an issue and in this case PNosker and EffectsToCause are not in the league of the ICO scammers and other con artists. Actually, I have to amend my last statement. According to EffectsToCause, there were no more than 500 coins that were generated throught that exploit. They saw IOcoin being exploited heavily and changed the code before VeriCoin could be hit hard. |
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5000Bitcoins
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November 16, 2014, 05:12:56 PM |
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Why are people so hard on this coin? Vericoin is legit, making reviews or helping out other coins, how can this be a bad thing.
If anything, these coins owe them one if they would ever need the help.
Also, many have managed to spin that the developers still holding their coins, months after launch, is a bad thing.
I don't get it?
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mctaino
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November 16, 2014, 05:37:35 PM |
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If this brings some clarification. Someone found a way to manipulatate stake through a patch that vericoin devs made to help the wallets stay in sync. This only affected variable interest coins with the patch. Rat4 brought it to my attention as soon as he found out 2 weeks ago since he reviews our code. He also told vericoin. We both moved quickly to resolve the issue. We at iocoin decided to stick with constant interest and vericon found a fix to stick with variable. But rat4's view were to remove variable or do it right from scratch. Because of the confusion, we decided to go to constant interest to make sure there was 0 chance for another exploit while our team codes DIONS.
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JackRipper
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November 16, 2014, 06:03:34 PM |
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If this brings some clarification. Someone found a way to manipulatate stake through a patch that vericoin devs made to help the wallets stay in sync. This only affected variable interest coins with the patch. Rat4 brought it to my attention as soon as he found out 2 weeks ago since he reviews our code. He also told vericoin. We both moved quickly to resolve the issue. We at iocoin decided to stick with constant interest and vericon found a fix to stick with variable. But rat4's view were to remove variable or do it right from scratch. Because of the confusion, we decided to go to constant interest to make sure there was 0 chance for another exploit while our team codes DIONS.
Thanks for the clarification. VeriCoin's patched patch solution sounds dangerous. Perhaps that's what EffectsToCause is working on now. I think he's been working on some new code for POS. It's too bad that the developers have abandoned BCT forum users because I'd really love to hear what's going on with this issue. |
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amesterdamer
Sr. Member
Offline
Activity: 334
Merit: 251
Designer and CryptoCurrency Enthusiast.
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November 16, 2014, 09:09:04 PM |
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Thanks for the clarification.
VeriCoin's patched patch solution sounds dangerous. Perhaps that's what EffectsToCause is working on now. I think he's been working on some new code for POS. It's too bad that the developers have abandoned BCT forum users because I'd really love to hear what's going on with this issue.
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barabbas
Legendary
Offline
Activity: 1162
Merit: 1000
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November 16, 2014, 11:11:55 PM |
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If this brings some clarification. Someone found a way to manipulatate stake through a patch that vericoin devs made to help the wallets stay in sync. This only affected variable interest coins with the patch. Rat4 brought it to my attention as soon as he found out 2 weeks ago since he reviews our code. He also told vericoin. We both moved quickly to resolve the issue. We at iocoin decided to stick with constant interest and vericon found a fix to stick with variable. But rat4's view were to remove variable or do it right from scratch. Because of the confusion, we decided to go to constant interest to make sure there was 0 chance for another exploit while our team codes DIONS.
I am going to assume the the black hand, throuhh you, is in control of that shitcoin of yours so thanks for the contribution to yhe subject but I would remain away from this thread ig I werer you. |
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barabbas
Legendary
Offline
Activity: 1162
Merit: 1000
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November 16, 2014, 11:23:36 PM |
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@amsterdamer
Congrats on finally getting a job. That said it would seem even cheerleaders prefer these forums to "keep the conversation going", rather than your censored, shiny new ones so you are welcome to keep on trollibg at will, just be awsre thst absolutely no one here gives a flying fuck about anyghing you may post. Here or anywhere.
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Isokoira
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November 16, 2014, 11:37:09 PM |
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For one, this is the Unofficial Thread and who cares who posts? Second, why push someone away? I thought everyone was welcome.  And please do something about that lack of spell check. You're killing me. LOL |
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Isokoira
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November 16, 2014, 11:44:07 PM |
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For a person who seems to have some sort of intellect, at least you can do a better job at spelling. Quite pathetic. Just an observation. I'm typing this after having two beers at 11.5 percent and still able to spell. What's up Barabbas?? Fat fingers??  Hurting my head trying to read your posts |
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Isokoira
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November 16, 2014, 11:48:30 PM |
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Come on Hardy, I'm thinking you are the chunky one so I'm calling you Hardy.
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Isokoira
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November 17, 2014, 12:02:18 AM |
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Barabbas on right, AltcoinUK on left  |
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