Topic: [ANN] Verus (VRSC) - zk-SNARK privacy, CPU-mining, 50/50 POW/POS, fair launch - page 40. (Read 49718 times)

thats fine, we just want proof, and im 100% sure you guys know roughly how much is owed to you..............so, how much

We're collecting the transaction list now, but it was all that we mined when we commissioned computers, and it was what we believed we needed to support the next phases of our plan. This is not a case where these coins histories need to be untangled. We mined them fairly, as we wanted everyone else to be able to do.

how much are you guys talking? how much went missing?

Hello, I can't build using instructions on github. I clone the wallet repo. The only daemon I see if komodod. I start it and it syncs komodo chain.

We can list all the transactions that we mined and staked, which we want to spend, show through the proof of work and proof of stake algorithms that they were fairly mined, and we can guarantee that no one else will be able to unlock them, because we had the keys. If anyone can unlock our transactions, we will happily give them the Verus for that, but if we thought that could happen, we wouldn't take the transaction.

can you guys honestly prove to us what was missing or what you lost?

I hope that's not what's happening.

Please go into more detail how users can see your missing funds.

We're not creating any coins that we didn't mine or stake already. We're respecting everyone's coins and only enabling us to spend the coins that we earned fairly and squarely. The chain is new, we released it fairly, and we can positively identify our transactions. We will allow them to be spent to our addresses, nothing more. If we don't do this, we will have lost funds, and the community will have a coin worth much less. We do not intend to create one Satoshi of additional coins, only to virtually recover the keys to coins intended to support the ecosystem we share. Is that what you understood from above?

my take also is the devs didnt anticipate there being this HUGE amount of hash on this so soon, and they didnt mine enough coins for themselves. so theyve had to go down this path of creating more coins for themselves in the way of a fork

Hi, a little confuse here, by all I understand, all the coins that I mined above 192 locked randomly now, but they will all released to balance by the end of the 384 month? Or they will still keep locked by 3moths-2years no matter how?

so the devs are going to magically create more coins for themselves with a hardfork it seems?

Hey, I started the daemon, but it seems to be syncing the komodo chain. The daemon is komodod?

I have done the needed steps but I can not send even 1 VRSC, screenshot: https://snag.gy/eYXw2V.jpg

Please help

Hi, Verus is emitting very large rewards right now, and at 192 reward or above, all coinbase transactions are randomly time locked for a period of from 3 months to 2 years and 3 months from the genesis block. Rewards will go up to 384 in the next couple days, then stay there for one month, releasing all randomly time locked coin bases. One more month at 192 will also be time locked. After that, the next month will be 96, not time locked, which will mature normally after 100 blocks, then one month at 48, one month at 24, then halving every two years. Blocks to maturity on time locked transactions show when it will be released.

Hello, do you find out the error, that comfirmation > 100, the coin still not transfer to the balance?

Are you using the GUI wallet? Many of us have been using that wallet. What specifically is the problem? Can you describe it?

mining in wallet under linux doesnt work

We will work on getting on solid exchanges, and we will help pools as well as are likely to run a community pool ourselves. Pools will have to wait until after time locks are off, I believe. We are working to get into Barterdex as soon as possible, and depending on volume, we would be happy to get onto other major exchanges.

We want to thank all of you for the incredible support we received on Verus Coin’s launch. We’d like to discuss how it went from our perspective, apologize for not being available to help everyone as much as we would have liked, and talk about a major incident we’ve had (don’t worry, it doesn’t affect the chain’s operation or your coins) and what we’re planning to do about it.

First, what went well:
We took MUCH, MUCH more hashpower than we ever expected on our launch, and both the proof of work and proof of stake algorithms worked beautifully as designed.
Since both are brand new algorithms written from scratch, borrowing some averaging techniques from zawy, and a quantum secure Haraka512 v2 core for the CPU-hash algorithm, we couldn’t have been more pleased to see them prove themselves in a blast furnace so early in the game.
In this first part of our launch, we have had literally thousands of computers mining. Thousands of connections, many thousands of cores, and people obviously spent some significant money to mine what they got. We all experienced how hard it was to get a block. Based on transactions we saw that looked like they were coming from some very big miners, I’d be very surprised if this was done by botnets, but we can’t know for sure.

So, what did we learn that will require change? Primarily, we learned that we can’t predict the world’s response, and even when you think you’ve planned for everything, it can surprise you. Like you, we were very surprised at the amount of hash power pointed at our network from launch onward. It’s great that we were noticed and appreciated so much, even when that wasn’t our first priority. Our goal was a truly fair launch, and we achieved that. We also believed that we’d be able to mine enough coins on our own to allow us to get through the early days with enough coins to keep the project going for many years, and see our vision realized. We designed fair algorithms, made a launch plan, implemented seamless time-locks to guard against any possible pump and dump, prepared our mining equipment, provided notice, and launched.

We all know what happened next. Some number of people decided that something about our coin was different. We believe so too, so we can’t fault people for recognizing. We immediately started with bigger response than expected, but we just smiled and mined. Then came more power, our first gigahash, but we mined and staked. Then more power, before we knew it we were at 3 GH/s on the network, eventually surpassing 10 GH/s, and we were starting to believe our plan to support the project by investing in a fair launch was at risk. By the second day, we realized that without significantly increasing our mining budget, we would get very little, certainly not enough to fund our coin development for one year, let alone many, regardless of how it succeeds. We made the decision to spend personal money that we hadn’t budgeted to commission more outside servers, which we did. Unfortunately, in the process of doing that, we set ourselves up for an infrastructure error of our own. In the end, we did mine enough coins for us to believe that we could move forward, get to the next phase, and create a truly fair coin, without a dev fee or founders reward, but with enough forethought to have funding for its development in place.

This morning, I was preparing to write a completely positive message to all of you, apologizing that I couldn’t answer more questions earlier, answering, and announcing a wallet update for tomorrow. I’m going to answer the outstanding questions, but first...

This happened... Due to an error on the infrastructure side, all of the wallets that we mined to from funds we spent personally, the majority of what we mined, are gone. Really, truly, gone. One member of our team took it so hard that we started to worry about him, but before you get concerned, he’s ok. We considered what options we had to deal with this. Generally, we wanted this chain to be fair, pure, and to have absolute integrity. Everyone can make mistakes, and we will have updates as we improve, but we believed a fair coin could be launched thoughtfully, giving everyone equal opportunity, and in a way that could support its development through its growth in value over time.

If we do not have a way to recover our coins, we do not know how to sustain the realization of the Verus vision. Most of the coins we mined, we had planned to put towards future development. So, we have come up with a plan that we believe respects the fairness we intended in this launch, and enables us to move forward. We know how to recognize our lost transactions. We will make an update that will allow us to spend those and only those specific transactions to our development wallet, and we will roll out that update, move our transactions back into addresses that we control, preserve all other earnings and transactions, not modify the total supply, not change anything else, and put ourselves back in a position to carry the project forward. We will not touch any transactions that were not ours, meaning we spent our fiat funds to get by mining or staking along with you. We will not change the supply. We will not roll back and put your hard earned mining rewards at risk. We will identify and recover our transactions, no more. We have already done a post mortem, and I can assure you that an error like this will never happen again.

As believers in blockchain and what it really means, we understand that some might see this as violating immutability. I can only answer this with the following:
1. These are our transactions. We paid more than we had expected to mine them, and they don’t belong to anyone else.
2. We will not change the coin supply or any other transactions, nor will we rollback the chain, and most of all…
3. We want to work for the community and realize what we know this coin can become. This puts us at a crossroads where if we don’t take this action, we don’t know how to move the Verus project forward.

We hope everyone who cares about Verus and it’s potentially very bright future sees this as a good solution, one that selectively returns a major portion of the development team’s earned resources necessary to complete the vision to the rightful owners. We will roll out a new wallet within the next two days, which will contain a solution for this issue as well as fix some issues that were discovered during the launch.

We appreciate the incredible response from all of you, dedicated small and large miners alike. We hope that everyone can support our plan, so we can move forward together with a community powered coin that we hope to take the the next level and far beyond.

Thank you,
The Verus Team

Thank you. We are going to look into your suggestion, but we have had some things come up. Also to address a few other questions quickly before we post an update:

1. The person who posted a photo asking "what is this?", you were lucky and staked two blocks!
2. Those asking about encrypted wallet support, I will get back to you. I believe we should have no trouble to enable that, but I'm not sure of the time frame.
3. People asking about not being able to send from a z-address... I'm not questioning if it happened, but we haven't seen that problem, and there were a lot of z-transactions over the past couple days. Please PM me, and we can discuss.

We are about to post an update on the launch and what we're planning going forward. It was incredible to see how well our system and its new algorithms worked under pressure. We also appreciate jl777's comments about what we've achieved. The Komodo platform gave us a solid, comprehensive base from which to build our technology, and their team has been great and super supportive. We couldn't be happier that we chose Komodo as a base upon which to develop our technology, and we hope to bring significant value to the Komodo ecosystem as we grow and contribute technology back for others to use.