VanillaCoin

fible1

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May 11, 2014
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Is anyone familair with VNL? Looks quite interesting (though the community is a bit guarded).

They seem to have equivalents to masternodes and IX but without the need for masternodes.

Any one have more insight into this coin?

https://bitcointalk.org/index.php?topic=977245.4760

Pablo.
 

tungfa

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Apr 9, 2014
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they had quite a pump at some point and were very 'popular' (to talk about on the troll boxes and CCC
now i have not heard much, not sure if their MN's actually work and pay or not
(not following enough, no time)
 

fible1

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May 11, 2014
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It looks quite interesting from a white paper perspective. I'm trying find out more.

Pablo.
 
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nmarley

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I can't take any FinTech seriously if the developer doesn't sign the builds and put the signatures on the downloads page. I started to write an article on that over a year ago and didn't -- maybe I should.

FinTech looks like a joke without .pgp signatures from the developer(s). Not professional at all, considering the implications of a tampered-with binary that is placed there by a rogue sysadmin.

E.g. let's say he uses Linode for hosting -- and VNL it gets popular and worth a lot of $$ per coin. Then a Linode sysadmin compiles his own version of the code but modifies it to send all coins to his own address instantly when the wallet is unlocked for whatever reason. The malicious version also hides that from the wallet display.

So... if devs sign downloads, and people actually have a practice of verifying every time they download the software, this can be prevented. If not... well, we all know what happened with the Linode bitcoin theft a few years back. What's to stop someone from implementing the exact scenario that I just laid out?

I'm not trying to pick on Linode, that's just an example. It could be any company where the binaries are hosted. Or it could be a sysadmin which has the ability to control the http re-direct, if there's an intermediate stop... multiple scenarios.

This is how I evaluated BlackCoin a little over a year ago. I determined at that time that it was a joke -- I couldn't take it seriously, and had to assume the developers were inexperienced kids having a great time w/o understanding the ramifications of everything they were doing. Around that time, Darkcoin (as it was called then) either already had been, or just started to, offer .sig files and Holger and Evan's PGP public keys. That's how I knew Darkcoin was a real contender.

I don't understand why people don't take PGP/GPG sigs seriously. Very few people that I know actually verify the binaries for anything. FinTech is the one place where you absolutely want to take this kind of thing seriously or you can lose everything.
 

fible1

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May 11, 2014
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Well, I bought me some VNL.

I agree with nmarley about signing binaries; another big, big, big red flag for me is the Dev is anonymous. I also don't like it's proof of stake, something wrong with that concept for me.

Anyway it does have interesting tech from what I read in the White Papers, so here's to being wrong. :)

Pablo.
 

AnarchicCluster

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Hey fible1
How is your investment in vanilacoin going? I am thinking about buying some vanilacoins and I wonder if you could provide me(us) with some feedback about the community and the coin in general. Is it something worth looking into?
 

fible1

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Dash Core Team
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May 11, 2014
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Hey fible1
How is your investment in vanilacoin going? I am thinking about buying some vanilacoins and I wonder if you could provide me(us) with some feedback about the community and the coin in general. Is it something worth looking into?
Well, it's complicated. My investment is doing fine, I'm actually up quite a bit since I purchased, so I can't complain there. I do have issue with the dev being anonymous and it seems like he is the only one working on the coin, so that makes me quite uncomfortable.

Also, the VNL thread on Bitcointalk was recently shut down due to heavy trolling and some infighting, and nothing seems to have replaced it, as the official forums and the forums over at Bitcoin.com are pretty quiet. So it's hard to get new information.

The coin is POS, so if you can get 10k coins (around 400 bucks right now), you can stake. At current rates you should almost double your money in a year, but "superpeers" (as they are called) are rising so that is bound to go down.

I do think that there is legitimate innovation going on at Vanilla with Zerotime (instant TX), specialized mining algos and a great deal of other stuff that I'm not qualified to get into. My main complaint is that it is a one man show and should the dev quit or for some reason not be able to continue, the coin will die. But it is so cheap currently that I think its worth it to drop a few hundred bucks to 1k and wait and see what happens, its definitely not a shitcoin.

The community is nice, but like ours, they are a bit traumatized by trolls, so they may take a bit to warm up to you. There is something I noticed that is not unique to Vanilla (we do it too) and the best way to put it is "developer adoration". Not sure how that would fit into your analysis but it's something to consider.

Again, my main qualm with Vanilla is that it is a one man show, and the developer doesn't seem to be working to expand the team so there is a limit to how far one man can take a coin I think. Not sure if this will change in the future as he has made it quite clear the coin is experimental right now and he seems to like it this way. I am not qualified to review the code but if you are, you should be able to learn quite a bit by comparing release announcements to actual function.

Again, I am happy to have made my investment, but I would not drop my life savings in there quite yet. I am waiting to see the dev team grow and the coins expand past one developer to make a second investment.

I suggest you read the White Paper's and go from there, hit me up if you have any other questions.

Pablo.