I had high hopes for VeriCoin and its developers. Unfortunately, a combination of bad luck, false promises, poor decisions and associations with shady characters has doomed this coin. This project should be a valuable lesson learned for the entire cryptocommunity, especially PoS coins.

I had close to 1M VRC at one point and held on to them through the Mintpal hack because I believed in the developers, but it eventually became obvious to me that there was really nothing innovative on the future roadmap that isn't already provided by the Bitcoin ecosystem. At that point, I decided to slowly start selling off my coins at a huge loss, because I didn't think the price would ever recover. By the looks of things, it appears that I was correct on that point.

On top of that, the developers seem to be speaking about this coin as if it's a side project now, which would explain why the development process has slowed down quite a bit. My guess is they are probably busy with their real life responsibilities and don't have as much time or interest to give to this project anymore. The subreddit is also a ghost town. This is the story of nearly every single dead alt coin that has existed.

I feel the decision to close down the official thread was also a mistake. As you could expect, the VeriTalk forums are a constant circle jerk of fanboys who don't offer any critique to the developers. All I can say is, you get what you ask for.

I've decided to sell the last of my coins off over the past few weeks. I wish the developers the best of luck, but I think all of the altcoins are facing a grim future. Moving out of VeriCoin and back into Bitcoin over the past few months is probably one of the better decisions that I've made. I recovered most of the losses I sustained by investing in VeriCoin.

If the bag holders in this thread are planning on SuperNET saving the day, think again. My opinion is that all eyes will be on Bitcoin going forward.