I think some information is missing in the discussion:
1) As stated by MP, VARIOUS exchanges have halted trading with VRC. The robbed coins can't be traded at this time
2) It is therefore a community decision to halt trading until devs come up with a solution. It's not a single and isolated devs move
3) The problem was related to the withdrawal door at MP and there was a single transaction moving the 8M coins. This means that the coins were transferred to a single wallet and can be perfectly and easily followed up
4) The hardfork that will be created by devs will most likely isolate that single transaction and all the transaction subtree that followed. But it will probably leave intact all other transactions, whether they happened before of after the theft
5) The exchanges will reimburse people who lost money transacting with the thieves (if there was any transaction at all)
6) As a result, the whole community will be secured and the single transaction that will suffer is the one where the coins are stolen
I believe VRC is going stronger after this.
Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 577. (Read 1356163 times)
July 13, 2014, 01:04:15 PM
July 13, 2014, 01:03:13 PM
Guys it is suicide to roll back because of Mintpal. Mintpal should be made to pay for the losses. No exchange should have the ability to force a hardfork in a coin because of their failure. This will ruin the credibility of Vericoin purely to save Mintpal. Mintpal is a vicious cancer to the community and this just proves it.
July 13, 2014, 01:00:09 PM
8millions....
comon guys its over! vrc is dead
it will take a long time until vrc recovered
fuck mintpal
comon guys its over! vrc is dead
it will take a long time until vrc recoveredfuck mintpal
July 13, 2014, 12:54:28 PM
Try do the same with decentralized BTC...
Check-and-mate, ignoramus.
Check-and-mate, ignoramus.
BTC has hard forked previously. You, sir, are merely insistent on baring your ignorance to the world.
BTC fork didn't roll back transactions this is difference...
Anyway here is hard decision to make and no winners at the and because of fail coin build mostly.
Don't get me wrong all types of coins have their problems.
July 13, 2014, 12:53:54 PM
MintPal fucked up... it's not the VRC community's responsibility to fix this. MintPal needs to cover the lost coins out of their own pocket - PERIOD.
If the VRC devs try to push a roll back, this coin is worse then dead in the water. Obviously, if a rollback like this is possible, the blockchain cannot be relied upon as a fixed ledger, and therefore the coin is useless.
If the VRC devs try to push a roll back, this coin is worse then dead in the water. Obviously, if a rollback like this is possible, the blockchain cannot be relied upon as a fixed ledger, and therefore the coin is useless.
I'm willing to bet some of you are the same person, so I'll pose this question to more than one of you since I doubt none of you will give an appropriate answer:
So you think a guaranteed ongoing 51% attack or an insta-dump is a better alternative?
Please explain why.
July 13, 2014, 12:52:05 PM
MintPal fucked up... it's not the VRC community's responsibility to fix this. MintPal needs to cover the lost coins out of their own pocket - PERIOD.
If the VRC devs try to push a roll back, this coin is worse then dead in the water. Obviously, if a rollback like this is possible, the blockchain cannot be relied upon as a fixed ledger, and therefore the coin is useless.
If the VRC devs try to push a roll back, this coin is worse then dead in the water. Obviously, if a rollback like this is possible, the blockchain cannot be relied upon as a fixed ledger, and therefore the coin is useless.
July 13, 2014, 12:49:09 PM
I say fuck MP fuck em right in the ass ..............we still got Bittrex and after MP fails do the Hard fork lol .............bye bye MP
teach them a lesson in security ...........serves them right for listing shitcoins like ISIS and getting paid off for listing ..........can u hear them crying over at MP
teach them a lesson in security ...........serves them right for listing shitcoins like ISIS and getting paid off for listing ..........can u hear them crying over at MP
July 13, 2014, 12:49:02 PM
Hard Fork is dangerous and stupid ............did bitcoin hard fork after Mtgox no ............its MP fault let them suffer ............no Fork if ur dumb enough to leave ur shit on MP u deserve to lose
Did bitcoin catch the problem right away?
July 13, 2014, 12:47:33 PM
Hard Fork is dangerous and stupid ............did bitcoin hard fork after Mtgox no ............its MP fault let them suffer ............no Fork if ur dumb enough to leave ur shit on MP u deserve to lose
Did bitcoin catch the problem right away?
July 13, 2014, 12:46:40 PM
Try do the same with decentralized BTC...
Check-and-mate, ignoramus.
Check-and-mate, ignoramus.
BTC has hard forked previously. You, sir, are merely insistent on baring your ignorance to the world.
July 13, 2014, 12:43:12 PM
I say fuck em' do the roll back and let the chips fall where they may. If nothing else the scumbag twats that pulled this shit should get nothing. Even though most likely they are in this thread right now trying to convince everyone that they are big holders looking out for the coin. Fork it, Fork it good and hard.
July 13, 2014, 12:42:30 PM
Why VRC to pay for others mistakes? That's funny...I belive in devs and for me VRC as already BIG...
July 13, 2014, 12:40:18 PM
Because one guy can rollback coin... this is evidence
You need to learn a little more of the concept of what a hard fork is. If 'one guy' attempted a hard fork and the rest of the coin's community did not accept it, do you know what happens? Nothing. No fork takes place.
We have been told why a fork needs to occur, but it requires the majority to accept it. So, no, it is not 'one guy' performing a hard fork, it is the community.
Decentralised.
Check-and-mate, ignoramus.
1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. " = rollback in short ( https://support.mintpal.com/index.php?module=announce&sec=view&id=17 )
Have little guys decided about that hard fork or you got solution and have to accept it ?
NO. Devs and exchanges comes out with ultimate solution to save their business mostly.
Answers is no - those hard decision was taken by developer and exchange owners...
You can only accept it or no...
Try do the same with decentralized BTC...
Check-and-mate, ignoramus.
July 13, 2014, 12:40:14 PM
Hard Fork is dangerous and stupid ............did bitcoin hard fork after Mtgox no ............its MP fault let them suffer ............no Fork if ur dumb enough to leave ur shit on MP u deserve to lose
You really don't understand they must fork and that it is best for the community also? Mostly the hackers will lose. Without the fork 51% attack...
July 13, 2014, 12:39:34 PM
btw, the rollback doesn't even affect the hackers. They probably already dumped the VRCs after they read about whats going to happen in order to switch the blockchain. The people who are affected by this rollback are the holders in the community and only the holders in the community. And the only one who benefits from the rollback is MintPal.
Patrick, I urge you to not do that. Please don't let an exchange decide about things like this. And I am not only saying this because I am losing money I have in VRC.
Patrick, I urge you to not do that. Please don't let an exchange decide about things like this. And I am not only saying this because I am losing money I have in VRC.
Not enough volume to dump, and if you listen to the devs, the money never moved or was sold. This makes it a easy rollback
So you're saying the hackers now sit on that VRC and wait until their attack becomes worthless? Sounds weird to me.
July 13, 2014, 12:39:15 PM
btw, the rollback doesn't even affect the hackers. They probably already dumped the VRCs after they read about whats going to happen in order to switch the blockchain. The people who are affected by this rollback are the holders in the community and only the holders in the community. And the only one who benefits from the rollback is MintPal.
Patrick, I urge you to not do that. Please don't let an exchange decide about things like this. And I am not only saying this because I am losing money I have in VRC.
Patrick, I urge you to not do that. Please don't let an exchange decide about things like this. And I am not only saying this because I am losing money I have in VRC.
The 8 mil was done in one swoops, can see them.
July 13, 2014, 12:39:04 PM
Hard Fork is dangerous and stupid ............did bitcoin hard fork after Mtgox no ............its MP fault let them suffer ............no Fork if ur dumb enough to leave ur shit on MP u deserve to lose
July 13, 2014, 12:36:12 PM
btw, the rollback doesn't even affect the hackers. They probably already dumped the VRCs after they read about whats going to happen in order to switch the blockchain. The people who are affected by this rollback are the holders in the community and only the holders in the community. And the only one who benefits from the rollback is MintPal.
Patrick, I urge you to not do that. Please don't let an exchange decide about things like this. And I am not only saying this because I am losing money I have in VRC.
Patrick, I urge you to not do that. Please don't let an exchange decide about things like this. And I am not only saying this because I am losing money I have in VRC.
Not enough volume to dump, and if you listen to the devs, the money never moved or was sold. This makes it a easy rollback
July 13, 2014, 12:35:48 PM
I personally am very excited by this. I know this may be a scary time for the people who currently have VRC missing, but think of the precedent this is setting!
Never in the history of money has there been the ability to just "Rollback" to a point prior to a theft. This is like if bank robbers got away with 2 million dollars, and the next day the money was back in their vault, while the robbers are now magically holding worthless monopoly money.
This really has the potential to change the way that the world sees crypto - it is a tangible benefit that fiat money will never be able to provide. If it goes off smoothly I have no doubt we'll see this in Forbes at the minimum, since they already are fairly crypto-friendly.
Never in the history of money has there been the ability to just "Rollback" to a point prior to a theft. This is like if bank robbers got away with 2 million dollars, and the next day the money was back in their vault, while the robbers are now magically holding worthless monopoly money.
This really has the potential to change the way that the world sees crypto - it is a tangible benefit that fiat money will never be able to provide. If it goes off smoothly I have no doubt we'll see this in Forbes at the minimum, since they already are fairly crypto-friendly.
you need to think a bit more:
not only the "robber" is punished, but everyone else who bought coins for BTC/FIAT between the hack/whatever and the time of the rollback, and everybody who sold will still have their coins + BTC/FIAT.
If you call that a good situation you should not be allowed to handle money at all.
This is without a question a terrible solution, and should not be done.
yes that would be very bad....for the people that stole the shit.
July 13, 2014, 12:33:05 PM
Here is the cold truth, you want to know why people keep their coins on exchanges instead of staking them?
Because they are paralyzed with fear that people like Iconic Expert or Bryce Weiner will dump any moment when the time is right and they want to be able to exit quickly to not lose their shirts.
So Bryce can go stuff it with his talks of blockchain security, he helps to create the most insecure and paranoid market in the world.
Because they are paralyzed with fear that people like Iconic Expert or Bryce Weiner will dump any moment when the time is right and they want to be able to exit quickly to not lose their shirts.
So Bryce can go stuff it with his talks of blockchain security, he helps to create the most insecure and paranoid market in the world.
You sir... are correct. Unfortunately, I had all my BC in my wallet on my laptop back in April during the BC crash from 94000 satoshi allll the way down to 14000. I wish I had my BC on Mintpal at the time because I could've sold during that crash. I lost $5,200 of profit because of that. Here's the thing though: I didn't have my BC on Mintpal at that time because of what happened with BC on Cryptorush.in back in March when they lost everyone's BC on that exchange, so I figured keeping them in my own wallet was safer. It's safer, but yes you can't panic sell when your coins aren't on an exchange. Since then I've kept my coins on exchanges. Not sure I'm going to anymore after this.
Its just a thought, but wouldn't it be cheeky evil genius-ish to perpetrate that assault in Cryptorush.in just to cause that exact reaction? People moving the BCs to the wallets and therefore making them slower to react to the big-ass-dump so the dumpers can do it at will and without loosing money in the way down?
Uh..
Eth.
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