[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 530.

professorY

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Quote from: Casu on July 14, 2014, 03:35:34 AM

Quote from: phzi on July 14, 2014, 03:33:36 AM

Ok... seriously now people... this doesn't hurt crypto, and nor would no action. It hurts VRC.

But, VRC is effectively dead in the water now, because the blockchain ledger can't be trusted. And if you can't trust the ledger to not have mass blocks orphaned, the coin is as useful as dirt.

It hurts crypto because it sets a precedent. If VRC does recover from this then rolling back the blokchain becomes a valid course of action, and that road does not lead to good places.

Or VRC simply becomes a pariah in the crypto community for having done such an irresponsible and short-sighted thing.

phzi

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Quote from: Casu on July 14, 2014, 03:35:34 AM

Quote from: phzi on July 14, 2014, 03:33:36 AM

Ok... seriously now people... this doesn't hurt crypto, and nor would no action. It hurts VRC.

But, VRC is effectively dead in the water now, because the blockchain ledger can't be trusted. And if you can't trust the ledger to not have mass blocks orphaned, the coin is as useful as dirt.

It hurts crypto because it sets a precedent. If VRC does recover from this then rolling back the blokchain becomes a valid course of action, and that road does not lead to good places.

Hardly... real networks are never going to rollback the blockchain for external non-technical reasons. Propose this kind of action for BTC or LTC - the community would laugh for ages.

This simply proves that these infant clone coins cannot be trusted.

VRC - It's like paypal... your coins might get charged-back anytime at the an an exchange's whim!

BadAss.Sx

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Quote from: Bobsurplus on July 14, 2014, 03:34:09 AM

Price will tank to ATL and wither away and die slowly.

But you talk shit all the time, so i guess this message is also shit.

Casu

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Activity: 154

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Quote from: phzi on July 14, 2014, 03:33:36 AM

Ok... seriously now people... this doesn't hurt crypto, and nor would no action. It hurts VRC.

But, VRC is effectively dead in the water now, because the blockchain ledger can't be trusted. And if you can't trust the ledger to not have mass blocks orphaned, the coin is as useful as dirt.

It hurts crypto because it sets a precedent. If VRC does recover from this then rolling back the blokchain becomes a valid course of action, and that road does not lead to good places.

tigerwood0432

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This is mintpal update not the first one :

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

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: BadAss.Sx on July 14, 2014, 03:23:07 AM

Quote from: Casu on July 14, 2014, 03:17:06 AM

I'm not sure how trying to ask a valid question in an adult manner equates to crying like a baby. Please, stop the personal attacks and actually explain how the rollback is not damaging to crypto.

Perhaps you must ask yourself why doing nothing is better for crypto? VRC devs are devoted to bring an all time mass coin to the public. The same public demands some security and safety to all the related scam messages around crypto. Devs did a 3 month development of the coin and that all would be destroyed with one single hack which isn't the fault of VRC devs after all. If they do nothing, the hack will destroy the trust. Not only in VRC, but also in other crypto coins. If they do something, the price will drop, but VRC has a strong community which are buying all those coins up and bring back the coin where it was.

Trust is the main goal of crypto. Not decentralization or a volatile price. Simply trust.

And all that trust is now lost. They should have noticed that mintpal had a hot wallet containing all those coins and should have had the investors pull coins off the site. They could have prevented this but they did not. Now they rollback and think all will be forgotten. Think again. This will be all over the press by tomorrow end of day.

Price will tank to ATL and wither away and die slowly.

phzi

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Activity: 700

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Ok... seriously now people... this doesn't hurt crypto, and nor would no action. It hurts VRC.

But, VRC is effectively dead in the water now, because the blockchain ledger can't be trusted. And if you can't trust the ledger to not have mass blocks orphaned, the coin is as useful as dirt.

The most plausible explanation for today's events:
- MintPal fucked up with offline wallets or something similar
- MintPal lost access to or the private keys for the coins
- MintPal claims a hack with no proof
- "Stolen" coins just sit there, unmoved... ya right, they weren't stolen, they were lost.
- VRC devs come to MintPal's aid, alienate the intelegent parts of the crypto community, but somewhat save MintPal's face.

Later:
- VRC blockchain can't be trusted.
- VRC buy volume sinks to nothing.
- VRC network crumbles and slowly fades away.

balu2

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this shit is maybe just one giant social experiment.

vual

hero member

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this will be one big shit storm,
most likely mintpals own fuckup we all know they are untrusted and fake volume,
I dare say they just fucked up with internal coin sending.

If this is rolled back or hard forked all faith is lost....
I repeat make mintpal pay for there own negligence from there own pockets!!

Casu

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Quote from: BadAss.Sx on July 14, 2014, 03:23:07 AM

Quote from: Casu on July 14, 2014, 03:17:06 AM

I'm not sure how trying to ask a valid question in an adult manner equates to crying like a baby. Please, stop the personal attacks and actually explain how the rollback is not damaging to crypto.

Perhaps you must ask yourself why doing nothing is better for crypto? VRC devs are devoted to bring an all time mass coin to the public. The same public demands some security and safety to all the related scam messages around crypto. Devs did a 3 month development of the coin and that all would be destroyed with one single hack which isn't the fault of VRC devs after all. If they do nothing, the hack will destroy the trust. Not only in VRC, but also in other crypto coins. If they do something, the price will drop, but VRC has a strong community which are buying all those coins up and bring back the coin where it was.

Trust is the main goal of crypto. Not decentralization or a volatile price. Simply trust.

Well thank you for an intelligent reply. The rest of the community would do well to look at this as an example instead of pages of personal attacks and ignores. I can't say I fully agree with you but still, this was at least something close to what I was asking for.

tigerwood0432

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Quote from: alwa1 on July 14, 2014, 03:24:55 AM

Quote from: balu2 on July 14, 2014, 03:15:41 AM

what if mintpal is lying and there was no hack?

coinex did the same. Maybe gox too.

Let them get away with it. Believe what you are told. Think, people, think!

And what exactly will Mintpal gain !? Actually how can Mintpal become more safe Huh

Mintpal can be more safe by putting their coin in cold storage . But from this attack , no one will ever trust an exchange and put his coin on it . i've been here for 18 hours now (i know = i'm a vampire = i not sleep too much) , i saw all kind of FUDDERS , Blackshitcoin fudders , BITRTREX fudders (please come to bittrex) , i've seen antonium dev coming here to insult the comunnity = i told him to put his anton-d..ck in in anton....us ....etc Crazy = THEY are all afraid with VRC = they seen vrc growing sooooo fast

alwa1

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Quote from: balu2 on July 14, 2014, 03:15:41 AM

what if mintpal is lying and there was no hack?

coinex did the same. Maybe gox too.

Let them get away with it. Believe what you are told. Think, people, think!

And what exactly will Mintpal gain !? Actually how can Mintpal become more safe Huh

tigerwood0432

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Activity: 493

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Anyway VRC showed us its strenght today , despite all Monkey-fudders . we trust vrc dev today more than ever

BadAss.Sx

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Quote from: Casu on July 14, 2014, 03:17:06 AM

I'm not sure how trying to ask a valid question in an adult manner equates to crying like a baby. Please, stop the personal attacks and actually explain how the rollback is not damaging to crypto.

Perhaps you must ask yourself why doing nothing is better for crypto? VRC devs are devoted to bring an all time mass coin to the public. The same public demands some security and safety to all the related scam messages around crypto. Devs did a 3 month development of the coin and that all would be destroyed with one single hack which isn't the fault of VRC devs after all. If they do nothing, the hack will destroy the trust. Not only in VRC, but also in other crypto coins. If they do something, the price will drop, but VRC has a strong community which are buying all those coins up and bring back the coin where it was.

Trust is the main goal of crypto. Not decentralization or a volatile price. Simply trust.

7vpo

hero member

Activity: 503

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Na Zdorovie!

Mintpal come to all of us funeral.
But that will never die.
Relax.

balu2

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Activity: 742

Merit: 500

Quote from: tigerwood0432 on July 14, 2014, 03:18:47 AM

Quote from: balu2 on July 14, 2014, 03:15:41 AM

what if mintpal is lying and there was no hack?

Its a possibility . why not ? They killed their exchange for 2 m$ ? Making hundred thousands dollars profit per day = they killed for 2 million ? interesting theory Wink

What if another exchange was hiring a mintpal employee to kill the company ?

maybe mintpal is just a fart in the bigger sceme of things. In chess you sometimes sacrifice a piece for a better move.

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: balu2 on July 14, 2014, 03:15:41 AM

what if mintpal is lying and there was no hack?

coinex did the same. Maybe gox too.

Let them get away with it. Believe what you are told. Think, people, think!

These guys are all sheep!

Bahhhhhhh!

tigerwood0432

hero member

Activity: 493

Merit: 504

Quote from: balu2 on July 14, 2014, 03:15:41 AM

what if mintpal is lying and there was no hack?

Its a possibility . why not ? They killed their exchange for 2 m$ ? Making hundred thousands dollars profit per day = they killed for 2 million ? interesting theory Wink

What if another exchange was hiring a mintpal employee to kill the company ?

balu2

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i don't buy this whole story.

Casu

full member

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Quote from: BadAss.Sx on July 14, 2014, 03:13:11 AM

Quote from: Casu on July 14, 2014, 03:06:31 AM

Anyway the price of VRC is irrelevant. Even if this does benefit VRC short term, this whole debacle is going to damage cryto as a whole.

The only thing what damages crypto as a whole like you said are the scammers, thiefs and p&d groups. Now they do something about it, and now you are gonna cry like a little baby?

Just shut up, sell your VRC's to me and go to another coin which promotes scammers, thiefs and pumps and dumps. You can cry there when you lost your shit to another nigerian prince.

I'm not sure how trying to ask a valid question in an adult manner equates to crying like a baby. Please, stop the personal attacks and actually explain how the rollback is not damaging to crypto.

Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 530. (Read 1356163 times)