Quote from: pingdigi on July 17, 2014, 08:11:15 AM

Quote from: Bobsurplus on July 17, 2014, 06:06:53 AM

Who's going to take a chance and except vericoin when they can chose one of the hundreds that have not broken the first rule of crypto!!! You're radioactive!

The only rules that cannot be broken are the ones that cannot be broken. You can't create coins without mining them because of cryptography, so that's a rule. But you can rollback the blockchain. You can decide to reissue a wallet that will mine more coins past an arbitrary amount.

If you want your precious "first rule of crypto" to be enforced, show me some code that makes it impossible to do a rollback.

actually the rule becomes stricter over time.. the more transactions that occur in a given time period the less possible it is to roll back the blockchain for that time period.. this is because it would cause significant financial damage to all those people who had made transactions during that period.

even if you change the code it would still be more difficult over time to get a majority of wallets to adopt the changes.

if you really wanted to you could engineer hardware wallets with storage that could only be written to once (like a CD rom), once you had enough of those devices out in the general public.. it would be physically impossible to roll back the block chain.

I suspect we may see an innovation like this in the future. hardware wallets built into phones that cannot be rolled back.