People are worried that this might set precedent for other coins to respond the same. An example would be if Bitcoin did this when Mt.Gox happened.Bitcoin has forked two times, significantly. One was in 2010 when someone was able to mint billions of Bitcoins. They had to go back 100 transactions and reset the chain. Thankfully, the network was really small then, and all the developers had to do was get to the big pools and tell them to update their codes. Bitcoin was really small, and no one cared about it, so it didnt get much attention.
The second event was where Bitcoin was updating from, I believe, 0.7 to 0.8. People didnt like the 0.8 change, so some people didnt move over. Basically, they were competing on two parallel chains for a long time. Eventually, the developers decided to revert back to 0.7.When people say were abusing our power, thats fine; they can say what they want to. I dont think of it that way, because we were going out of our way to prevent the coin from dying off. Most of the people who are critical of this are people that dont own it and are people that want another coin to succeed. They attack every coin and right now its a good opportunity to attack VeriCoin.
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There is more, read the full article @
http://www.cryptocoinsnews.com/news/vericoin-developer-speaks-ccn-mintpal-hardfork/2014/07/15 That is the mos important part.
The dev decided to make a change but the people didn't.
And in the end it was the users that decided the which chain was the right one.
Here there was decision taken by a few to protect a business , nothing more.
Until it's technically impossible to rollback the chain, this "problem" will continue. The argument of "I don't like what the VeriCoin devs did, I'm going to buy coin instead" doesn't hold because all other cryptocoins can be rolled back as well. Just because the devs say they won't doesn't mean they can't!
So bravo VeriCoin devs! You did a good thing, and although people are upset you violated some sort of imaginary moral law, the problem that has always been there is now front and centre.
If you don't like it, show me the code to fix the problem.
in the protocol. VeriCoin on the other hand had no need to fork as there was no flaw, it was simply a
.