Altcoins
Vericoin – Mintpal Hack – Blockchain forkVericoin is a new coin that has gotten a lot of attention lately. They have a strong team of developers and marketers as well as a pertty open google hangout live chat. Without getting too technical this sums it upThey are also talking about sending coins via sms. THEN SUDDENLY MINTPAL WAS HACKEDYes that headline is slightly sarcasitc. Lets be real, these exchanges are MAJOR targets for hacking. What would be better to get as a reward for your criminal asshole behavior as non-reversable currency that moves around the world in seconds? Mintpal says that Vericoin was the target of the attack, the only target. I really want to belive them but I would really really really recomend that everyone uses a lot of caution. You might even consider trying to withdraw some coins from mitpal and see if it works. Maybe Vericoin was the only target, but if you were a hacker would you attack only one coin? Base RiskThis is another lesson in trading. BASE RISK, many forget about this and instead concentrate on how many satoshis the price has gone up or down, who is pumping and who is dumping. In the meantime we forget that doesnt really matter if the whole exchange is hacked, closed by authorities or run by a team that has technical “issues”. Now we are seeing that even a new coin has to calulate in the base risk of being traded on an exchange at all, but wait. I thought crypto was fungible. Now the Vericoin team wants to fork the block chain and go back to the chain before the hack. This should prevent the hacker from profiting from the hack. Sounds good, but when do you stop? What happens when cryptsy gets hacked, and Birrex and crypto124ex and altrexcrypto567. com ? Are you going to fork everytime? Do we really know if Mintpal was hacked at all? Who is to say that they just took the coins themselves? I am not accusing Mintpal of stealing coins, however such things at other exchanges have happened before and it should not be rules out. I dont like the decision to fork. NEW THEORY: Vericoin had access to the mintpal api which is in Beta (it is true that mintpal is testing their api) and the coins were stolen via the api (again no proof this is a theory)Vericoin StatementMintpal StatementVericoin HomepagePoll about forkВ ConspiracyLooks like altcoins. in is not alone in its opinon against the forkhttp://www. reddit. comlitecoin/comments/2apsj7/litecoin_developers_will_never_fork_litecoin_to/ciycbhd
