Post
Topic
Board Altcoin Discussion
Re: Mintpal hacked (VeriCoin)
by
Luror
on 14/07/2014, 18:16:47 UTC
People stating that nobody will lose money over this are naive. If the fork goes through then yes people will get their VRC refunded to them but ask yourself this question:

What will happen once the BTC/VRC market is reopened on the various exchanges?

The answer is simple, the majority of people are going to dump all of their VRC for BTC and those who are too slow are going to be left bagholding severely devalued VRC. They will be the real losers if the hard fork goes through.

I personally have no stake in VRC (and never will now). The precedent being set by the VRC devs makes the coin worthless from my point of view. It's not the responsibility of coin devs to protect the interests of coin exchanges.

Every single transaction can be traced back to it's very origin in a blockchain. A better option would have been for Mintpal to step up and compensate their customers out of their own BTC for their now imaginary VRC and if the VRC devs wanted to roll out a hard fork, the extent of which should extend to some kind of global warning if the coins that have been received originate from the malicious transactions. This would make the stolen coins worthless and easy for an exchange to confiscate should they be transferred to one.
+1