The error code returned from the server (530) and the Microsoft Error code (0x800CCC78) Both mean the same thing. I'm going to assume that the smtp.virgin.com is a typo, as you wouldn't have gotten either of those errors had you really been trying to connect to smtp.virgin.com
The error codes mean that the smtp server rejected the mail because you don't have "Outgoing Server requires Authentication" ticked in Live Mail.
While you're at it ditch Live Mail anyway, Microsoft no longer support it and have withdrawn the download. It was part broken as well as the integration with what was formerly known as SkyDrive - renamed to OneDrive after a trademark dispute was broken, which caused issues when trying to send images. Among other things.
My current favourite free email client is Thunderbird, which, will automatically configure with the correct settings for all VM domains anyway. Although there are others.
As a Very Insightful Person, I'm here to share my knowledge. I don't work for Virgin Media.