One has not fully grasped the stupidity of the the whole financial sector until one has understood derivatives. It's howling mad nonsense like derivatives that are responsible for the current worldwide economic shambles.
It's sad that 6 years after financial crisis people still blame imaginary objects for problems. The problems aren't derivatives, the problem is the government, but the main problem is YOU who believe in every shit someone tells you about. Governemt is their to create moral hazard and lure people into hell. Derivatives are OK, they are good and needed in this world. Peoples and companies need to hedge to save their asses from unexpected things. Your first problem there is that you seem to believe there is any meaningful difference between government and the banking system. Your second is your belief that convoluted imaginary structures to facilitate the breeding of yet more paper currency out of existing paper currency while bleeding the general population dry are 'good and needed.' I knew that but your point though is so far out-of-context from the OP. I am clearly writing about how to move more capital into the coin without necessarily increasing the price. For example, with bets long and short, they cancel each other out and allow people to hedge.
Think about this paragraph for a minute. "Let's cram shitloads of (someone elses) money into something without making it worth any more, so we can gamble with much bigger amounts!" |
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One has not fully grasped the stupidity of the the whole financial sector until one has understood derivatives. It's howling mad nonsense like derivatives that are responsible for the current worldwide economic shambles.
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Are there plans for the foundation to setup masternodes with the funds they gather? May be a bit early for this question.
If they have the spare funds then I'm sure they will, no reason not to. |
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Any free SpreadCoin giveaways going on lately? my mining isn't giving me anything and I've had it constantly running since I downloaded the wallet almost 2 weeks ago!! So if anyone wants to "SPREAD" the love my addy is SdpQYCKXV8MQeKE6MSCK2J5JZP8sc3bxAA and I'll gladly do small chores to help build this community stronger and stronger as long as I can get paid in SpreadCoin  So let me know what I can do folks and I'll start doing it  Cheers There is a giveaway http://www.reddit.com/r/CryptoCurrency/comments/2knolx/spreadcoin_giveaway/ not sure if it is still active. Also there is the very slow way to get spreadcoins: http://www.multifaucet.tk/index.php?faucet=SPRDamn the giveaway is over lol does anyone know which exchange I can buy some spreadcoin off of? I have used Allcrypt with no problems. https://www.allcrypt.com/market?id=1195 |
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Great news! |
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Regarding DarkCoin features, good news for those who want them is that SpreadCoin is based on DarkCoin, I didn't remove DarkCoin related features from source code but disabled them. They are now outdated because they are from DarkCoin version from the time when SpreadCoin was launched. This still means that it would be easier to integrate latest version than it would be if SpreadCoin was forked from some other coin. They had some issues when introducing masternodes, this was probably fixed in latest versions, I didn't followed it very closely. I need to be 100% sure that any new features will be safe and won't compromise that level security that we already have. I will review their code and see if it can be integrated in SpreadCoin. Excellent news. In holding up my side of the bargain, I have a buy wall at 7500 on AllCrypt. I would do the same on BetaSharex but the market there is currently on hold. I am also looking to buy 50,000 SPR off exchange at 7500. If anyone out there has 5000 or more available, please PM me. If/when Mr Spread begins to implement features, these prices will rise. Glad I hoovered up a few last night.  |
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You can screw over chart witches really easily, because chart voodoo is great at predicting the behaviour of chart witches. |
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total amount traded is only $45. how did the price increase with so little market action?
With solo miners mining this because they believe in the coin and the concept, and without the constant dumping of big pools, I think Spread is going to have much, much more limited supply on exchanges than other coins. Prices are going to reflect that scarcity. Solo mining has benefits other than blockchain security...  And if Mr Spread even hints that he's going to integrate other aspects of the Darkcoin codebase, eg. Masternodes at some point down the line, this is going to go up in price rather rapidly. |
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Mr Spread. Any thoughts on forking in Darkcoin features into this coin? "True Decentralization", anonymous, and masternodes would be pretty amazing.
With current price establishing masternodes would be very unreliable, by investing not very large amount of money you would be able to run many master nodes. To prevent this we can set necessary deposit to run masternode to very high value but this will make overall number of masternodes very small. Don't forget InstanTX.
We have fast block generation (to make solo mining easier) - 1 minute instead of 2 minutes 36 seconds in Darkcoin (yes, it is not 2 minutes 30 seconds as they claim) so speeding up transactions is of less importance for us. And InstantX requires masternodes. You're right of course, it would make no sense to implement Masternodes now, they need to be reasonably expensive. But it's nice to know that the option is there for the future... I'm sure you have plenty of ideas of your own! I have been aggravating Darkcoin people for some time about the great white elephant in the room WRT all PoW coins - the huge security risk that centralised mining poses, they either think I'm a lunatic or they don't want to agree publicly because they are afraid of whining miners. Anyway, very happy to have found some folk who acknowledge the issue and a developer that has done something about it. Nobody in their right mind is going to invest serious money in a currency where compromising just a few pool operators / pool servers could destroy their investment overnight. Solutions like Spreadcoin are the only way that PoW is going to survive, or ever gain traction in the wider world. Every other PoW coin at the moment is a complete joke from any risk analysis point of view. |
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Is there a guide to update a MN that covers a protocol update? I'm wondering because I saw above someone posted that you have to stop the MN and start it again from the wallet. Also, since my wallet now has more than 1k drk in it from payments do I need to transfer some out so it has exactly 1k before I start it? Thanks!
Update your MN serverside as usual. Then open the local wallet that corresponds to that MN (make sure your darkcoin.conf file has the appropriate masternodeprivkey and masternodeaddr lines) and issue 'masternode start passphrase' - that's it. You don't need to bugger about with any amounts in the wallet, unless you want to withdraw some earnings to another address. |
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Anyone's MNs inactive on drk.mn? Two of mine are but their ip shows active locally.
That site isn't updated........... oh good, it drops off old clients. Maybe some more frequent masternode payments to those who update early. Happened last time... I think older versions will still get paid for another 7 days before being delisted. That was the plan anyway. |
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Mr Spread. Any thoughts on forking in Darkcoin features into this coin? "True Decentralization", anonymous, and masternodes would be pretty amazing.
Don't forget InstanTX. I've been picking up a few thousand Spread here and there but I would buy into this like nobodies business if some more DRK features were to be added. Mr Spread seems honest and competent, if he keeps it up I am very hopeful for this coin. |
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How long does an instatX transaction take to be broadcasted on average?
Well technically it's broadcast immediately, like any other tx, but on testnet it was taking 15-20 secs for the consensus lock and full confirmation on the receive end. |
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InstantX on the other hand... if we get this baby out in the open working fine, we could still see it happen before new year's eve  I agree, I think InstantX is potentially a bigger sell than anon, but wider adoption via use of IX will hopefully get more people trying DS too. |
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***************** Amber Alert *******************
Wonder what the Belgian taxpayers make of 70% of their GDP rotting in toxic US debt? |
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I got into Darkcoin back in April IIRC. Sold enough around 0.02 to pay for my rigs + electricity, recoup my fiat investment in DRK, buy a new car, new laptop, few other toys, etc.
Now I run 5 Masternodes with the remainder which at current prices earn me about $240/month for $25/month in server fees.
And I learned more than I ever wanted to know about the unrelenting stupidity of humanity. And I wasn't exactly naive to begin with...
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hi i want to store my 5000 drk in a paper wallet like bitcoin, is that possible?
Help > Debug window > Console - in text entry box at bottom type: walletpassphrase yourpassphrase 60 ...then... dumpprivkey darkcoinaddress It will output a long string. Copy it and keep that string safe, your paper wallet is whatever you write it on. Note that your wallet will likely contain many Darkcoin addresses, you can move everything into one address first then dumpprivkey for that one address. This is a such a awful recommendation ... to create a paper wallet via the above method defeats the whole purpose.  It's a backup, you can recover your coins if your wallet.dat files get lost, stolen, corrupted or whatever. |
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hi i want to store my 5000 drk in a paper wallet like bitcoin, is that possible?
Help > Debug window > Console - in text entry box at bottom type: walletpassphrase yourpassphrase 60 ...then... dumpprivkey darkcoinaddress It will output a long string. Copy it and keep that string safe, your paper wallet is whatever you write it on. Note that your wallet will likely contain many Darkcoin addresses, you can move everything into one address first then dumpprivkey for that one address. |
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One thing I've noted though is that the 'cheating miner' code is not yet implemented?
Mr Spread would it not be wise to test/release that before it becomes necessary, if it ever does?
There is nowhere to cheat yet, existing miners can only work in solo mode. First we'll need at least some pool protocol. Also, are there any nethash analysis/distribution tools available, possible, in the pipeline?
Due to more decentralized nature it is harder to perform such analysis for SpreadCoin. You need to monitor which node will be the first to broadcast the block. For Bitcoin you can just connect to all major pools which is not a problem as they probably are running on a good servers. Since there are no pools in SpreadCoin you will need to connect to as many nodes as you can and still the fact that some node was the first to broadcast some block doesn't mean that this block was mined by this node, it may be just distributing block which was mined by node to which you are not connected. Many computers in internet are behind NAT or don't accept incoming connections for some other reasons, the only way to be connected to such nodes is if they will connect to you which may never happen. This doesn't mean that it is impossible but hashrate distribution analysis may be less reliable than in cryptocurrencies with pools. No such analysis is available yet. Thanks for the answers. |
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Is there something to stop botnets from mass mining this coin?
There's nothing to stop botnets, besides basic security practices, from ransacking GPU rigs all over the world either. I know people it's happened to. I know why you're looking at this coin. I guess my question is, couldn't massive botnets be used to subvert the coin? Does this really fix the pool issue? Massive botnets could be used to subvert anything connected to the internet. I have no idea why you would worry about botnets with this coin in particular. It's no more or less vulnerable than anything else. And as far as I can tell, yes this does fix the pool problem. Spreadcoin looks like the only decentralised PoW cryptocurrency at this point. It doesn't do anything about massive solo farms though, but one step at a time... One thing I've noted though is that the 'cheating miner' code is not yet implemented? Mr Spread would it not be wise to test/release that before it becomes necessary, if it ever does? Also, are there any nethash analysis/distribution tools available, possible, in the pipeline? |
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