[XC][XCurrency] Decentralised Trustless Privacy Platform / Encrypted XChat / Pos - page 835.

Profetu

full member

Activity: 204

Merit: 100

Quote from: weedsmoke420 on July 14, 2014, 02:09:16 PM

You must remember to be unsure of anyone's statements; the means of communication is trustless, think about it.

The reason Veri was targeted probably had a LOT to do with the VeriBit protocol being abused.

The developers of VRC might have paid off mintpal to not disclose this, and mintpal would have obliged because it basically means neither party has to claim responsibility.

This is just putting two and two together; why wouldn't any other coin be taken? Why wouldn't the hackers just target Bitcoin?

If you choose to believe what you are told from the people that are solely responsible, be my guest; there are plenty of blue pills to go around.

As for me, I'll choose the red one.

BTC and LTC were unsuccessfully targeted. Also how was VeriBit abused since it is capped to 1 BTC per transaction?

So if you are paranoid and uninformed you take the red pill.

bitcad4u

sr. member

Activity: 602

Merit: 255

Quote from: Profetu on July 14, 2014, 01:26:18 PM

Quote from: bitcad4u on July 14, 2014, 12:52:48 PM

Quote from: policymaker on July 14, 2014, 12:49:18 PM

Quote from: bitcad4u on July 14, 2014, 12:45:34 PM

sure glad i bought a ferrari with vrc just prior to the hack.. cause now i got a ferrari and all my vrc back in my wallet Wink

-this is a joke - but also a real life reason you shuldnt roll back a block chain when the chain is commercialized

Did this really happen? I mean the blockchain rollback. Side-effects?

Yes this happens. so basically you buy something with coins... you get the product and take it home... then they roll back the block chain to a point prior.. when you still had those coins. and so now you got ur coins back plus the product... so now you can go re buy the product again Wink

its a win for you because you get what you bought plus all teh coins back u spent... but for the dude who gave you the product, hes now out the product and out the coins you gave him. hes at a big loss.

It could have happened to XC, I wonder what would your opinion be then.

So it's either leave 30% of the coins in hands of criminals to dump on exchanges or execute a 51% attack or cause inconvenience to a few people that happened to trade in that 1-2 hour window which will later be reimbursed by Mintpal and set a precedent in the alt world. Tough choice...last I heard even Bitcoin is experimental software. Crypto is programmable money. As long as majority agrees and votes with their wallets stuff can change. You can still run your wallet on the old chain Cheesy

I wonder if Dan would have roll backed.

If it happened to XC my opinion would be much different, reason being is I would have high hopes that 40% of all XCs were not held within mintpal. I have more faith that XC is not being held to dump but rather to accumulate for future. With that in mind, I would assume most XCs are staking in users wallets not on exchanges ready to be hacked or dumped.

I would like to estimate that perhaps maybe 80-90% of all XCs are in the investors own controlled wallets - and not on an exchange ready to dump.

that is my thoughts.

Thank you.

GameStarter

full member

Activity: 214

Merit: 100

Quote from: Abrupto on July 14, 2014, 02:05:27 PM

Quote from: Abrupto on July 14, 2014, 02:03:44 PM

Quote from: GameStarter on July 14, 2014, 02:02:02 PM

Quote from: Abrupto on July 14, 2014, 01:56:55 PM

Quote from: Conurtrol on July 14, 2014, 01:51:11 PM

Quote from: hoertest on July 14, 2014, 01:45:52 PM

what Vericoin is doing should create an outrage in crypto world. they sabotage cryptocurrency as a whole.

I think they made the right decision given the circumstances. Any further discussion should be in their thread so as not to derail the XC thread.

I have to disagree with you. This veri/mintpal discussion belongs on every serious altcoin thread. XC can be hacked just as easily on mintpal, 19% of total xc supply is on mintpal right now. What veri does may set a precedent for future coin attacks.

I don't believe this in any way derails the xc conversation.

How do you know 19% of total XC supply is on Mintpal now?

give or take, it's not completely accurate

http://chainz.cryptoid.info/xc/#!wallets

Click on largest wallets tab

Thanks never watched it. Well <20% for a site where most of volume is done it's not too bad. Still some people need to put their money on wallet.
XC>>> exchange so store your coin in your wallet and protect yourself and XC from hack

weedsmoke420

member

Activity: 84

Merit: 10

You must remember to be unsure of anyone's statements; the means of communication is trustless, think about it.

The reason Veri was targeted probably had a LOT to do with the VeriBit protocol being abused.

The developers of VRC might have paid off mintpal to not disclose this, and mintpal would have obliged because it basically means neither party has to claim responsibility.

This is just putting two and two together; why wouldn't any other coin be taken? Why wouldn't the hackers just target Bitcoin?

If you choose to believe what you are told from the people that are solely responsible, be my guest; there are plenty of blue pills to go around.

As for me, I'll choose the red one.

conradjohnson

full member

Activity: 158

Merit: 100

Quote from: Abrupto on July 14, 2014, 02:05:27 PM

Quote from: Abrupto on July 14, 2014, 02:03:44 PM

Quote from: GameStarter on July 14, 2014, 02:02:02 PM

Quote from: Abrupto on July 14, 2014, 01:56:55 PM

Quote from: Conurtrol on July 14, 2014, 01:51:11 PM

Quote from: hoertest on July 14, 2014, 01:45:52 PM

what Vericoin is doing should create an outrage in crypto world. they sabotage cryptocurrency as a whole.

I think they made the right decision given the circumstances. Any further discussion should be in their thread so as not to derail the XC thread.

I have to disagree with you. This veri/mintpal discussion belongs on every serious altcoin thread. XC can be hacked just as easily on mintpal, 19% of total xc supply is on mintpal right now. What veri does may set a precedent for future coin attacks.

I don't believe this in any way derails the xc conversation.

How do you know 19% of total XC supply is on Mintpal now?

give or take, it's not completely accurate

http://chainz.cryptoid.info/xc/#!wallets

Click on largest wallets tab

I agree with Abrupto - what would have happened if this were XC? Would Dan have agreed to fork? I hope he wouldn't, but currently I'm not in the position to have the perspective of the devs and holders of Vericoin.

Abrupto

member

Activity: 84

Merit: 10

Quote from: Abrupto on July 14, 2014, 02:03:44 PM

Quote from: GameStarter on July 14, 2014, 02:02:02 PM

Quote from: Abrupto on July 14, 2014, 01:56:55 PM

Quote from: Conurtrol on July 14, 2014, 01:51:11 PM

Quote from: hoertest on July 14, 2014, 01:45:52 PM

what Vericoin is doing should create an outrage in crypto world. they sabotage cryptocurrency as a whole.

I think they made the right decision given the circumstances. Any further discussion should be in their thread so as not to derail the XC thread.

I have to disagree with you. This veri/mintpal discussion belongs on every serious altcoin thread. XC can be hacked just as easily on mintpal, 19% of total xc supply is on mintpal right now. What veri does may set a precedent for future coin attacks.

I don't believe this in any way derails the xc conversation.

How do you know 19% of total XC supply is on Mintpal now?

give or take, it's not completely accurate

http://chainz.cryptoid.info/xc/#!wallets

Click on largest wallets tab

Abrupto

member

Activity: 84

Merit: 10

Quote from: GameStarter on July 14, 2014, 02:02:02 PM

Quote from: Abrupto on July 14, 2014, 01:56:55 PM

Quote from: Conurtrol on July 14, 2014, 01:51:11 PM

Quote from: hoertest on July 14, 2014, 01:45:52 PM

what Vericoin is doing should create an outrage in crypto world. they sabotage cryptocurrency as a whole.

I think they made the right decision given the circumstances. Any further discussion should be in their thread so as not to derail the XC thread.

I have to disagree with you. This veri/mintpal discussion belongs on every serious altcoin thread. XC can be hacked just as easily on mintpal, 19% of total xc supply is on mintpal right now. What veri does may set a precedent for future coin attacks.

I don't believe this in any way derails the xc conversation.

How do you know 19% of total XC supply is on Mintpal now?

give or take, it's not completely accurate

http://chainz.cryptoid.info/xc/#!wallets

GameStarter

full member

Activity: 214

Merit: 100

Quote from: Abrupto on July 14, 2014, 01:56:55 PM

Quote from: Conurtrol on July 14, 2014, 01:51:11 PM

Quote from: hoertest on July 14, 2014, 01:45:52 PM

what Vericoin is doing should create an outrage in crypto world. they sabotage cryptocurrency as a whole.

I think they made the right decision given the circumstances. Any further discussion should be in their thread so as not to derail the XC thread.

I have to disagree with you. This veri/mintpal discussion belongs on every serious altcoin thread. XC can be hacked just as easily on mintpal, 19% of total xc supply is on mintpal right now. What veri does may set a precedent for future coin attacks.

I don't believe this in any way derails the xc conversation.

How do you know 19% of total XC supply is on Mintpal now?

Abrupto

member

Activity: 84

Merit: 10

Quote from: Conurtrol on July 14, 2014, 01:51:11 PM

Quote from: hoertest on July 14, 2014, 01:45:52 PM

what Vericoin is doing should create an outrage in crypto world. they sabotage cryptocurrency as a whole.

I think they made the right decision given the circumstances. Any further discussion should be in their thread so as not to derail the XC thread.

I have to disagree with you. This veri/mintpal discussion belongs on every serious altcoin thread. XC can be hacked just as easily on mintpal, 19% of total xc supply is on mintpal right now. What veri does may set a precedent for future coin attacks.

I don't believe this in any way derails the xc conversation.

Conurtrol

sr. member

Activity: 478

Merit: 250

Quote from: hoertest on July 14, 2014, 01:45:52 PM

what Vericoin is doing should create an outrage in crypto world. they sabotage cryptocurrency as a whole.

I think they made the right decision given the circumstances. Any further discussion should be in their thread so as not to derail the XC thread.

hoertest

hero member

Activity: 882

Merit: 1000

what Vericoin is doing should create an outrage in crypto world. they sabotage cryptocurrency as a whole.

merk475

sr. member

Activity: 252

Merit: 250

Quote from: GameStarter on July 14, 2014, 01:18:30 PM

I really hope now everybody understood you have to keep most of your coins (or all) into your wallet, we can't trust the exchange (mt gox, mintpal....). We can moove our coin from wallet to exchange in few minutes if needed and we accumulate coin with stacking.
XC price have been pretty solid and stable developing a new strong base around 180/170 after a nice run from 80 to 310, everybody agree we can trust our team so just keep your precious coin into your encrypted wallet with your password + backupwallet out of your computer.

I have 3 currencies I keep off the exchanges. Those are my long-term holds (XC being one of them), and I don't daytrade with them. Anything else I have, it's kept on an exchange so I can dump if needed. These would be coins I don't trust, and always have to keep an eye on.

If you truly believe in XC, the smartest advice is to stake them in your personal wallets.

weedsmoke420

member

Activity: 84

Merit: 10

World First.

100% Encrypted Messaging; 100% Encrypted Transactions.

With this 2.0 platform; phone calls, email, social networking; all candidates for XC's next world first.

Will you be aboard?

XC ; Architecture of Tomorrow.

merk475

sr. member

Activity: 252

Merit: 250

Quote from: mr_random on July 14, 2014, 01:28:23 PM

Quote from: bitcad4u on July 14, 2014, 12:58:10 PM

my comment on vrc - @ICee712 @VeriCoin When a EXCHANGE is hacked and 40% of currency was stolen - you know that 40% of the value of the coin was for PUMP n DUMP not for Holding long term.

And that's just on the biggest exchange. Add up how much must be on the other exchanges and I bet it tips it over 50% easily

That's something people don't take into account. All this talk has been about Mintpal. I bet there are a ton in Bittrex's wallet too.

mr_random

legendary

Activity: 1344

Merit: 1001

Quote from: bitcad4u on July 14, 2014, 12:58:10 PM

my comment on vrc - @ICee712 @VeriCoin When a EXCHANGE is hacked and 40% of currency was stolen - you know that 40% of the value of the coin was for PUMP n DUMP not for Holding long term.

And that's just on the biggest exchange. Add up how much must be on the other exchanges and I bet it tips it over 50% easily

Abrupto

member

Activity: 84

Merit: 10

Dave Seaman and Bryce Weiner discussing mintpal and vericoin live

http://www.youtube.com/watch?v=fmb0xQvBGss&feature=youtu.be

Profetu

full member

Activity: 204

Merit: 100

Quote from: bitcad4u on July 14, 2014, 12:52:48 PM

Quote from: policymaker on July 14, 2014, 12:49:18 PM

Quote from: bitcad4u on July 14, 2014, 12:45:34 PM

sure glad i bought a ferrari with vrc just prior to the hack.. cause now i got a ferrari and all my vrc back in my wallet Wink

-this is a joke - but also a real life reason you shuldnt roll back a block chain when the chain is commercialized

Did this really happen? I mean the blockchain rollback. Side-effects?

Yes this happens. so basically you buy something with coins... you get the product and take it home... then they roll back the block chain to a point prior.. when you still had those coins. and so now you got ur coins back plus the product... so now you can go re buy the product again Wink

its a win for you because you get what you bought plus all teh coins back u spent... but for the dude who gave you the product, hes now out the product and out the coins you gave him. hes at a big loss.

It could have happened to XC, I wonder what would your opinion be then.

So it's either leave 30% of the coins in hands of criminals to dump on exchanges or execute a 51% attack or cause inconvenience to a few people that happened to trade in that 1-2 hour window which will later be reimbursed by Mintpal and set a precedent in the alt world. Tough choice...last I heard even Bitcoin is experimental software. Crypto is programmable money. As long as majority agrees and votes with their wallets stuff can change. You can still run your wallet on the old chain Cheesy

I wonder if Dan would have roll backed.

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

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bitcad4u

sr. member

Activity: 602

Merit: 255

Quote from: Reese212 on July 14, 2014, 01:08:35 PM

Quote from: bitcad4u on July 14, 2014, 12:58:10 PM

my comment on vrc - @ICee712 @VeriCoin When a EXCHANGE is hacked and 40% of currency was stolen - you know that 40% of the value of the coin was for PUMP n DUMP not for Holding long term.

if i steal 40% of a coin then i have to sell them immediately to take profits before i get caught.
i can't see the context between "i steal something" and "i Need to hold the stolen stuff for a Long time". plz explain, i feel so stupid =)

edit: now i got it.... :-D your Point is that you don't like hot-storage and that you assume that People have to store their coins locally and not @ an Exchange.

the point was - if the VRC were valued by the vrc users as such to use in future they would not have them on teh exchange. the fact that 40% of all VRC were on mintpal shows to me that 40% of the coins value is for dumping for profits at a later date.

that is all.

GameStarter

full member

Activity: 214

Merit: 100

I really hope now everybody understood you have to keep most of your coins (or all) into your wallet, we can't trust the exchange (mt gox, mintpal....). We can moove our coin from wallet to exchange in few minutes if needed and we accumulate coin with stacking.
XC price have been pretty solid and stable developing a new strong base around 180/170 after a nice run from 80 to 310, everybody agree we can trust our team so just keep your precious coin into your encrypted wallet with your password + backupwallet out of your computer.

Topic: [XC][XCurrency] Decentralised Trustless Privacy Platform / Encrypted XChat / Pos - page 835. (Read 1484194 times)