Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 528. (Read 1356163 times)

I asked this also: With these stolen coins, what is stopping them being traded on other exchanges prior to this fork?  given the time the fork took place it appears Mintpal has been given a second life whilst minorities given the middle finger so to speak.

I think you'll find the number to be extemely low. Sunday.. using one of the altcoins.. how much sales volume you reckon?

Fuck all. Insignificant.. if there are any who got beef, it will be sorted.. security will be improved, lessons learned etc.

Devs and community acted in time to avert a catastrophe = Bullish.

I know the problem was with Mintpal, nobody else.. they will have to improve to win back trust and customers.. and we all move on.

You can see all time vericoin volume on bittrex, and is actually about the average. Are you guys insane, you did not like what happened thats ok, most of you haven't even invested in vericoin. The decision is taken and only time will show what will happen.

Its a decent update...

Its bad for vericoin.. There is no way this is good, but I do think its been handled well...

Root of the problem (IMO) is this is a mintpal issue.. Mintpal has an awesome UI, its fast, it can keep up with demand but it is still the subject to growing pains... This is a massive shot across the bows for them and will no doubt make them stronger, they cannot  f&^k up on how they store coins of they will put themselves out of business.. No doubt internal meetings are saying now "security, security, security"

Forget adding Isis and other Sh1t coins.. Get on with the job..... VRC have done the right thing, but they are the fall guys here which is a shame...

Ironically I think this will make mintpal stronger now going forward.. Hope is all sorts itself out for holders today.

I use paypal on a daily basis. So yeah it works for me the same as it will work for others.

My wallet is updated and all transactions are current, without having had to import wallet.dat.

Is this normal?

You realise that any daily transactions are part of this roll back? If any merchants were accepting VRC as payment, they now have to go to Mintpal to ask for compensation. Imagine if Visa charged back 4 hours worth of payments and then told merchants that in order to get their money back they had to file a claim with an unaffiliated bank that they had arbitrarily chosen to rescue. How does this inspire trust?

Sounds like something a bank manager or paypal would say!

"Vericoin, the Paypal of Cryptos!"

Such... a... newb...

Didn't even read the last page of posts to understand that this is not in anyway similar to any bitcoin fork.

VRC did NOT do a hard-fork.  VRC rolledback the blockchain.  Huge difference.

LMAO @ your post. Yous sound like a snake oil salesman!

Keep trying to keep moral up. In the last few hours since trading started there has been about 1.5 btc of volume on bittrex most of it from selling and none of you supporters sheep are doing any buying. Wait till the world wakes up. This coin is losing 50% today! You'll see!

Interesting. My deposit was frozen when they shut down VRC, yet it was not canceled or deleted. All of my transfers finished after they reactivated.

Reading many other alt coin threads, everybody is saying that vericoin only choice was to hard fork, they support the decision. Only here there are people who FUD.

Guys, they are fudding the coin because they are pissed that the coins they stole to bring down Vericoin, had the opposite effect.   They lost their stolen booty and made Legends of the Vericoin Devs and Vericoin community in the process.  Just like Satoshi did to save Bitcoin in 2010, the Vericoin Devs are also not afraid to Hard Fork the coin to punish thieves who were trying to destroy the coin.  

And the community is now tremendously stronger because of this event.  There is no doubt now that Vericoin is on it's way to sitting next to Bitcoin and used as much as Bitcoin for daily transactions.  The Dev team proved they have the salt necessary to innovate and make Vericoin succeed where all others have failed!

Nice to hear this Developers from VRC save the hack nice team i holding my for bether price SOon!

"What will happen to my VRC?
The VeriCoin that you hold on the MintPal exchange will be unaffected thanks to the VeriCoin developers. As we previously announced, the VRC developers have worked tirelessly to perform something never before done by a cryptocurrency and rollback the blockchain in order to reverse the two malicious transactions. This was not done out of a desire to save MintPal, but rather a desire to save your coins. Once the updated wallet has been distributed and the new fork is active we will re-open our VRC wallet to facilitate withdrawals."

OMG ^^^^ is disgusting! Sounds like something a bank manager would say.

MintPal / VRC Update
https://support.mintpal.com/index.php?module=announce&sec=view&id=18


Since we made our first announcement on the MintPal / VRC situation a few hours ago many of you have come forward with a number of questions.

What will happen to my VRC?
The VeriCoin that you hold on the MintPal exchange will be unaffected thanks to the VeriCoin developers. As we previously announced, the VRC developers have worked tirelessly to perform something never before done by a cryptocurrency and rollback the blockchain in order to reverse the two malicious transactions. This was not done out of a desire to save MintPal, but rather a desire to save your coins. Once the updated wallet has been distributed and the new fork is active we will re-open our VRC wallet to facilitate withdrawals.

How can I get my VRC?
As soon as we re-open our wallet your VRC balances will be available for withdraw. All market orders on the VRC/BTC market have been cancelled. We will be manually processing withdrawals to ensure the process works as expected.

Was my personal information taken?
No. We have absolutely no reason to believe that any of your personal information was taken. We would also like to add that we store your passwords & secret question answers encrypted with a static & random salt.

How did the attack happen?
The malicious user was able to inject a withdrawal request directly into our database bypassing the risk control measures that we have in place. We have found no evidence that our server infrastructure was directly accessed in the attack.

Has the issue been fixed?
We have worked to secure the withdrawals process to ensure that a similar situation cannot occur again. As an added precaution we are manually processing withdrawals until we are 110% confident the issue has been resolved.

Were you staking your VRC?
No. With the exception of Coin2.1 (by developers request) we do not stake any PoS coin. The staking process is CPU intensive on a large wallet and makes for an accounting nightmare. All of our wallets are started with the staking=0 flag set in the configuration.

Why was only VRC taken?
We're not exactly sure why VRC was the only coin taken, however we can confirm that BTC and LTC were targeted, but those withdraw attempts were unsuccessful owing to far more stringent COLD storage methods on those wallets.

What about COLD storage?
This is perhaps the most important question we have been asked. We did have COLD storage setup for VRC, however in this instance, due to an error for which only we can be accountable, we had transferred far fewer coins than was required, resulting in a large proportion of coins being left in the HOT wallet.

Why did trades take place after the market was suspended?
Once the hard fork was announced by the VRC developers we suspended trading on the VRC/BTC market via our usual process, however, not long after the market was suspended we were alerted to a number of trades being executed on the market. Investigation has shown that due to an error on our part users who had not refreshed the page since the market was suspended were still able to enter orders successfully. We immediately worked to patch the issue to prevent further trades and have reversed the trades that occurred.

What happens to my VRC deposits since the time of the attack?
Any deposits that you have made since the time of the attack will be removed and any pending deposits will be cancelled. Once you update to the new wallet version, you will pick up where you left off before the attack. If you deposited directly from a different exchange, please contact them directly.

How do I get a refund?
The biggest implication of the rollback is to the various exchanges who have accepted customer deposits and then had trades executed on those deposits. We have committed to our customers and to all exchanges that we will cover any losses faced as a result of the rollback. If you are a MintPal customer you will be able to withdraw your full VRC and BTC balance. If you are a customer of another exchange you will need to contact them directly for exact information.

So what? Mintpal hacked themselves now for a joke? I don't understand... did you even read their statement? It doesn't matter anyway.. we are where we are.. and that's alright. . we move on.. we go forward from here.

Everybody voted with their wallets.

Sorry if you were in the minority vote.

What Mintpal did like a joke.

Strange seeing how my transactions were preserved in the new wallet.

Guess I am the "winner" LoL!