Post
Topic
Board Announcements (Altcoins)
Re: [ANN][VRC] | VeriCoin | POS - NSDI | VeriBit | VeriSend | VeriSMS
by
BitcoinPorn
on 15/07/2014, 05:59:48 UTC
Wow, Patrick, you really did it. You did a rollback of the blockchain and wrote history with it. Everyone with knowledge about cryptos knows that their were a couple of other options to save the coin (e.g. removing the stolen coins from the supply), but you chose to bail out mintpal. You even were offered support for fixing the issue in a reasonable way, but still you used your honorable achieved credibility to break a fundamental rule. Its a sad day in crypto, especially since this wasn't a scam coin but a serious crypto project.

This move will never be forgotten. To the community, if you all trust a single dev so much, here is the perfect solution for you: Fork again and increase the supply such that pnosker owns 50% of all coins which he should never spend on anything and only use for staking. You will be save, forever! Have a good life.

i think the bold part needs more explanation, what other options were passed up on?

The option to burn all the stolen coins and leave mintpal owing to the users for one.

$2 million dollars worth of coin that users would probably never see back from Mintpal, as who knows how they would have even handled that.  I'm guessing shutting down and giving their user base refunds of a percentage of the amount of coins they actually had in the exchange, thus fucking over users of many altcoins.    

OR..

the choice they did make, rollback, the hacker does not make off with $2 million dollars worth of coin and $4000 dollars worth of VRC transactions get messed up (so far the only negative I have seen as part of this situation.. other than FUD/ignorance/disagreement posts).