Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 512. (Read 1356163 times)

Not thrilled, it must be said.

Mintpal has said it doesn't stake its coins due to accounting issues with interest. Get your facts straight

Barabass FUD FUD

If that didn't work then IMO just hold tight if you don't need to move any funds. Within a couple hours we will likely need to update.

Douglas, you pretending I am IconicExpert? say it ain't so... you are not supposed to be stupid...

Now, for those REALLY interested in the dangers that VRC faces, besides this theft. And the use of common sense: Go back please to the post of Celani10 on July 6th. There's a wallet that owns 4.5 million coins -there was then at least, by now it probably has been spread through several-. There's NOTHING the developers can do about it (an organized group of "investors" simply accumulate by buying on the open market). Plus, it is, apparently, good for the coin, right? Relatively so. As we have witnessed, a 51% attack, with guaranteed success, is indeed possible with that amount of coins since only 51% of STAKING coins are needed to perpetrate it.

That is is you want to have a guaranteed successful 51% attack. But you stand a very good chance is you perpetrate the attack with much less than 51% of the total coins STAKING. As a matter of fact, you stand a very good chance of success in such an attack even if you control "only" 38% of the STAKING coins or even less. How much % of STAKING coins in VRC is 4.5 million? Well, Patrick and Douglas know exactly but if you use common sense and known facts you will conclude that with 4.5 million VRC you stand a very good chance, if not guarantee, of success. Simple known facts, basic common sense.

Now, for the second consideration, "Mr. Yo soy Boricua pa que tu lo sepas", a well known Black Hand operative with a muddy track record (BC, Cinni), all of a sudden and out of his kind heart work his ass out -quite literally- for weeks to promote VRC in which he has some investment -as per Patrick, around 200,000 VRC- AND writes a "five figure (in dollars) check" to pay for the Bristol PR contract to promote VRC. Such generosity. One has to wonder what motivates Mr Boricua Man to do such things. Is he after the position of Ambassador from UNICEF? nope. He just wants "to be part of something big..." Caustic words that could have quite metaphoric meaning, you be the judge... but just consider what level of profit you must reach on a 200,000 VRC investment for a "gift" of "five figure (in dollars) check", to make any sense --now that we have the possible UNICEF pursuit out of consideration.

So reflect on this and by all means come to some logical conclusions and, above all, potential solutions -for currently there are none nor I can suggest any.

I find the roll back solution adopted both inevitable and a bit of poetic justice letting the crooks holding the bag of crap... for now. But, admittedly, this cannot be a model for such solutions in the future so, how do we respond to the obvious -and quite cheap, actually- threat of a 51% attack situation that a group like the Black Hand -and, mind you, there are many others already formed and forming at the moment- can perpetrate at any moment? What are the implications? Are there potential solutions?

One more consideration: Everyone is advocating for "staking" now. This is simply wrong for a coin that expects to reach mainstream: Coins need to be SPENT and Exchanged. For goods and for other valuables -including other coins and currencies- otherwise it will be going in the opposite direction of mainstream. Staking, in and of itself, will precisely mean the opposite of what VRC is supposed to become.

You get it! the 30% effected, the 70% uneffected all stick together. This is a lesson for crypto what can be done when a strong team and community come together.

How does this situation end with any other alt? Surely not with a google hangout to clear the air and bring clarity to the situation.

No No, Im sure you get it, 99% of other alts would have there anon dev go missing and the coin tumble to zero.

What the vericoin developers and community did in the past day has been what the crypto community has needed for months now. We finally get leadership from people with integrity and respect for the community.

We will be stronger than ever, we are VERICOIN!

Yeah, dev's just announced a new wallet coming through the pipeline today. I think Linux compiles first, then Windows and Mac. Stay tuned.

Sell ​​cheap, buy expensive... lol

Okay, I deleted everything but the wallet.dat and dowloaded again, making sure bootstrap box was checked..... Still stuck trying to sync with 1000+ blocks remaining.  FYI, I'm using the Windows download. Any suggestions, or should I just wait until the smoke clears and see what devs have to say once they get a better handle on this?

Glad to have my money back at least, not sure how I feel about what happened with the fork but oh well.

Thanks VRC Devs for being on your game.

There's pros and cons to the action the devs are taking, and it's not all shiny happy goodness.

But it's also not going to destroy the coin.

Yes, I suspect a lot of not-too-smart people will dump all their coins the instant they can, but I also expect a very fast flash rebound.

Be careful if you try to trade it!  It will be easy to get burned!

The thread is full of fanboys, blind and unable to think more than one second.
Fanboys have a common behaviour : as soon as someone gives real argument, fanboys have only one answer : "fud"

How old are you guys?

Sit tight until further notice...  https://twitter.com/pnosker/status/488642702851198976


-tb-

WE HAVE BEST DEVS!!!!

I <3 VRC !!!!

Based on your post history. nothing more needs to be said. ignore

Keep up the good work!

Cheers Doug, thank you for the update!

I know that if it was ANY other coin, my money would be gone.

For that I am grateful for yours and the rest of the community's hard work.

How can Fudster be serious .

Rule nr 1: Fork happens!

Rule nr 2: What doesnt kill you make you stronger.

Rule nr 3: free publicity yey !!


At the end of the day. When we have our new wallet, and mintpal opens trading again. Everyone get the control of their coins again .
And than people will wonder....should i sell or should i stake (safely on my computer/flash).

Banks will hear "wow , there is a new crypto on the rise , they prevented successfully a theft on a exchange, that bitcoin wasnt even capable of" --> fire spread "hey hedgefond guys you heard of that asset that cant be stolen?! Its a buy!!"

all into ->>

"Breaking news: Bitcoin has got officialy outdated by a new Currencyform call Vericoin. Its more secure , anti theft prove , transactions are faster and you get 2,3 anual interest by a feature called "Staking" "

Vericoin the Thief smaaaasher!!!!!!!!!!!!!!!!!

And you want to dump this diamond? You are nuts!!

Vericoin= the paypal of crypto

Is it safe to move receive funds in my wallet right now?  Or should I wait until the new wallet is released this afternoon?  I noticed that blocks aren't syncing this morning.