Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 524. (Read 1356170 times)

Please actually read my post if you are going to quote parts of it.
Also, if you follow anything of what I have said today you will see that I am not rooting for the hacker.
Criminals are a cancer on society.

I do believe that we need a system that can't be hacked in this way though, otherwise it will keep happening.
By saving the exchange we allow its survival and the environment in which this happened.
It is good Mtgox is dead.
If you have cancer on your body, sometimes you need to cut your leg off.
If you just put a bandaid on it, the cancer grows.

Obviously by your immature verbbage you are the one that is butthurt.

Did I say something you didn't like? Cry more please. Thanks 

That is a very good question. I'd like to hear the answer to that.

LoL rooting for the criminal.

Are you a wannabe criminal or an actual criminal?

Wow.

I'm not someone for conspiracy theories and such.
But... please tell me that VeriCoin and VeriChip is just a very unlucky coincidence?

Hell maybe I have something wrong here...
someone here thinks that a coin like this is in keeping with Satoshi ideas?

Today we saw the bailout of an exchange.
I am sorry for the devs. It is not their fault they got put in this situation.
But the fact remains: they bailed out an exchange.

To the people saying: "they had to! so many coins too much for one person to own! they can attack the network!"
Just think about it.... those coins are being rolled back and going back to one entity.. Mintpal.
If it is unsafe in one entities hands, what does it matter if that entity is the hacker or Mintpal when it comes to the security of the network.
If the system inherently protects itself, as Bitcoin and all crypto's are allegedly designed to do, then it will protect itself in hands of hackers as well as exchanges. If more is to be gained by holding the stake than abusing the stake then all is safe.

If I was the hacker this is what I would do:
(Hacker take note)
I would send most of the coins to a ridiculous and inaccessible wallet called something like Mintpalsucksandhasnosecurity.
In that way you would destroy the coins, keeping a fee for showing this flaw to the community.
This would also negate the main reason for a rollback.

This is but one thing that the devs did not address and will not.

"Hey guys I lost my vericoin lunch money...can we roll back?"

It is funny for you to reach and try to find something to insult me on.

Nope as I already said...it is purely and solely to out the bullshit that has gone on today for what it is.

He will enjoy his Bitcoin !! Great job Vericoin for fucking this up !

What about those transactions that took place in the meantime?

What if someone actually transferred big amounts of vrc to cryptsy and dumped them for btc. And now he finds out he still got the coins in his wallet... 

But why? OH WHY? Why so concerned? You just lost a shit load of money on URO?

Like many others, I have a lot of Veri on Mint. The only reason its there, like everyone else, is to trade. No one uses Veri, so a rollback was feasible.

But it might have just fucked crypto in general.

What do you mean, you can rollback Bitcoin? That's what every government around the world will be told. That's what every bank is going to spell out as to why they won't allow crypto.

As soon as possible, I'm dumping my entire holding.

Stupid fucking decision.

Obviously you know nothing.

My purpose here is to out the bullshit as much as some of you may want to suppress it.

We agree that this situation looks like PayPal fraud department f**** . Yeah i stop using Paypal for over 1 year since Bitcoin . I have no idea what people say here that PayPal is successful as many bussines understand how much harm they actually do . But did they had any other option till Bitcoin ? No .

Also here is our article : http://247cryptonews.com/vericoin-lack-integrity-bailout-mintpal-mistake/  
Not much but we want people to find out how stuff are going on . If i had 30% of vericoin and i have been hacked i bet all my bitcoins that Vericoin Team wouldn't have moved a single finger . We had a few Vericoins , now heading on Bittrex to sold them all . This entire operation it's becoming shady . Oh sh*t can't dump ....bittrex has VRC disable .

Goverment - Bailouts Banks . Vericoin - Bailouts Mintpal

lol, just posting this without any details is shit. Just spend your time elsewhere.

Paypal is popular because there is little alternative. That is why. Now Bitcoin comes along...watch paypal go the way of the dodo bird.

PayPal is successful because of demand.

Without demand you have what is common today, crypto that is good for laundering money and not much use in mainstream economy.

maybe then developer will go true way of development POS.

Anyway solutions to 30% staking should be implemented already, if VRC is PPC>NOVA>BC fork
and whole situation of 30% coins is just smoke screen of saving Mintpal exchange.


Here source of info.
Issues/controversies ( http://coinwiki.info/en/Novacoin )
Stake generation issues

The main proof-of-stake design problem is that unlike proof-of-work hashing rate, stake weight could be used multiple times without any overhead. It allows potential attacker to repeat his attempts to generate consecutive stakes until he will get lucky enough. And there is high probability to success without holding large stake, 20–25% of total weight (not coins) will be more than enough. Attacker can retry his attempts to generate consecutive stakes 1,000, 50,000, or 1 million times without any problem, using the same outputs.[12][13]

This could be worked around using centralized check-pointing. Novacoin creators resolved this issue using balanced weighting scheme.[14]
Centralized check pointing
_______
(BC POS 2.0 make more to repel those kind of attacks too... )

Paypal is only successful because the powers that be allow it.

Vericoin has no backing of the federal reserve in terms of approval.

Paypal is a broken system.

Vericoin, the PayPal of cryptos


Yes, this "chargeback/rollback" bullshit is the same thing paypal would pull.

I love how competitors are using the comparison to PayPal while simultaneously ignoring how hugely successful PayPal actually is.