Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 553. (Read 1356163 times)

I am a senior member in this bitcointalk forum, but I want to remain anonymous.
I noticed Vericoin discussion when go to Altcoin ANN, and here is some of my insight:

First, a few questions:

1. Did mintpal really lost Vericoin, because of being hacked?
After reading their official announcement, the information is rather vague. Is there a possibility that coins are withdrawn by some big bagholders? Is there possibility that coins are sold by Mintpal (or its personnel) to other people and then they want to reverse the transaction while not paying the money back?

2. Vericoin was hacked, while other coins, including Bitcoin, was intact. Is it because the problem of Vericoin blockchain, or because of the safety hazard in Mintpal?

3. Vericoin group decided to roll-back the blockchain, is this a result after a deliberate consideration, or not?

4. If a small Altcoin-Bitcoin exchange site get compromised, will the Vericoin team do the same thing to roll back?

Then a few insights:

Cryptocurrency is created to be de-centralized. By reversing some transactions through the intervention of development team, it goes against its initial objective.

Cryptocurrency is created to be not regulated by authorities, such as countries. What happened to Vericoin today goes against this objective, because it is controlled by an exchange site. Suppose someday a country authority send request to the Vericoin development team about some Vericoin is held by some bad guys and the authority request a hard fork to remove those Vericoins, or send those coins to the country authority, based on what happened, I doubt the team will say no.

my two satoshi

Why are you so interested in letting the thieves away with the money?

This is the new age Bank Bail out....by hard forking. Get with the program lol...so messed up.

Yup, i agree with you but there are pros and cons on both sides. Doing the opposite will also set another precedent for things to come. Watch the next exchange/coin gets hacked and watch the thief get away with it cause the communities allows them to.

If this is the mindset of crypto currency, would outside money risk their money investing into crypto? Be careful what you ask for.

You think I am here trying to sell. And I guess if you listened to me at 10k, blah blah blah. Or when I bought my domains months ago under 10k satoshi. But I guess you can call me a pumper cause this is your first time here. Interesting huh? But you know it all.

This is the new age Bank Bail out....by hard forking. Get with the program lol...so messed up.

Speaking of panic selling...when (or if) coins are restored on Mintpal...what kind of a percentage dump are people estimating?  

I was thinking anywhere from 25-50%.  

As bad as this sounds...it would seem to be a prime time opportunity to (new) buyers.  

Regardless of what happens...I foresee Vericoin rising 10-100x by years end.

So if you have some now...hold and stake.  Unless you swing trade at exchanges...then tread carefully.

Anyone who sent coins from the time the hack occurred (where they will roll back to) to the current time...can essentially DOUBLE SPEND their coins.

EPIC fail.  

you are trying damn hard to get people to put more money into VRC once it's back. slow down man, you might trip and fall

They are not acting for the benefit of an exchange, because there would be no legal obligation for the exchange to reimburse customers. Again you seem to not like the idea, that a thieve will hold an empty bag.

% is not an argument. The fact that a business fucked up in their security of their customers' VRC is not the devs problem. But obviously the devs want to make it their problem.

VRC hacks and scams will come with expectations now in the future. "Hey someone hacked my personal VRC wallet...can you VRC devs roll back and hard fork the blockchain so I can get my coins back?"

Utter BS.

To you, and went up with a majority of other people. Sure the price might go down a bit in the first few minutes as people panic and re-asses, I will be shocked if this stays down for long however.

Dogecoin got big because of MEDIA am i correct? It was a dog face coin with big community that grew from media.

Vericoin will benefit in time, people will see the quality of developers and community and come here.

I dont think I seen a normal fudder here today, All these people are 100% new, and that means they are thinking about vericoin now.

This may be a dumb question, but did the total supply just go down 30%? That's how I read the hard fork and mintpal reimbursement.

Thieves don't steal millions, And thats bad PR? To much of a crypto purist to see whats holding back adoption? Normal people don't care for thievery of there money, buddy.

This is exactly what I am talking about. The trust factor will go down the toilet.

The VRC devs obviously are willing to take on a business's inadequacy to secure their users VRC on their exchange. Let's wait for the next VRC hack or scam that happens...watch as the rumbles of hypocrisy take shape.

Bad decision by the devs. Their credibility went out the door.

Can someone with better writing skills, or a few people make me up something well written about the headlines of today? English isn't my first language (im sure you all can tell by now)

I will spend hours a day through social media and emails until this goes viral.

So if someone doesn't mind helping me out, something quick and easy for a news outlet to view and want to learn more about the story.

rollback? how about calling it a chargeback

a thing that shouldn't be possible in cryptos, but you guys are now trying to sell me this as something positive

some funny PR guys here

Any business that is incompetent to handle customer funds and property should be held liable without a "bail out" in the form of a hard fork through the VRC devs. This will set a precedent for things to come. Watch the next exchange that gets hacked or person will cry foul and expect the VRC devs to roll back the block chain and if they don't they will be then hypocrites.

I don't follow you. I'm no banker, lender, or exchanger. I've done some trading as I'm sure many of us have. So what? Crypto is an interesting hobby I've been into for a while. I work in the tech industry and running some public nodes seemed like a fun thing to do. I always figured that spending a bit of my money and time to keep some nodes updated and functional was helpful.

When I saw this emergency fork was going to take place I remembered the fiasco with the DRK forks. No offense against the DRK team, I think they've done some cool stuff. But those masternode forks were a mess by any measure. So with this VRC emergency fork happening I decided to post a message asking for direction. I just want to get my nodes updated properly and make sure they are on the right fork. I also wanted to extend an offer to help if there was anything I could do. I was pretty impressed that Patrick replied back right away.

Meanwhile I get this reply about manipulators and middleman which doesn't make a lot of sense. I scroll through the messages looking for relevant info and all I see are these types of rants. They're all so negative and unhelpful. I understand people are upset about the decision to roll back transactions. Everybody is entitled to their opinion. But jeez, some of this is a little over the top. I suspect that at least some of these rants are an attempt to fuel panic selling when the markets finally open back up. Which would make *those* folks the manipulators, not me.

This is something we should get focused on. Its is very hard with all the FUD attempts. But we must try to refocus in the midst of all the tension.