Post
Topic
Board Announcements (Altcoins)
Re: [ANN][MID]MidasCoin|New Scrypt PoM|Backed Value|ATM card|Referral|NO IPO|UNIQUE
by
MidasCoin
on 18/09/2014, 12:58:38 UTC

Hello,

The launch has been very successful, with peak of 31 Gh/s and an average hashrate after 2 days of 14 Gh/s.

Unfortunately after 2 days a coordinated network attack has been able to inflate an offending chain in our network, using various attacks methods.   We decided, consulting the community, to pause the operations for apply a critical network patch, but instead of relaunch, to keep all the people funds already mined until that point in the pool balance (available to be withdrawn at reopening). 
Our actual patch ensure that a situation like that will not happen again.

Here part of our FAQ:

Q- What happens if your patch doesn't work? What happens in case of another successful attack against the #midascoin blockchain?

A- Pretty simple, we buy back all the MidasCoin on the pool balance at their bitcoin value, paying in Bitcoin instantly with no questions asked. Then we close the company, give apologies to the community, and never present our face on the public crypto scene again. This is our #challenge, All is perfect or we payback and go home and all people with #midascoin balance get money upfront.