Anonymint has been spending the past couple of days tearing apart XMR. From his posts, it's clear that their solution is nowhere near perfect. So they put in all this effort, have a coin that is non-compatible with Bitcoin api, generates tons of bloat, and in the end there are still big loopholes. What was the purpose of all that effort, if not to create a bulletproof coin? Not sure if that renders all Cryptonote coins DOA, but it sure raises questions. What is the purpose of CN coins if they have all these negatives, but few real positives?

I've listed the Flaws of Darkcoin and Monero.

Darkcoin's Flaws:

1) Darkcoin has a 50% instamine by it's own developers during launch, as the block reward was set to 500, and there was no windows wallets/miners. Evan, the developer, and Internetape, the other developer, instamined over 1million Darkcoin's within 24 hours.

2) Darkcoin's name itself, Darkcoin, will always be affiliated with illegal activity like the Darkweb, Drugs, etc, and the name itself ensures that Darkcoin will never reach anything close to mainstream acceptance.

3) Darkcoin's "anonymity" is based on coinjoin, it simply mixes users coins around, making it harder to track it. However, if even the slightest taint if found when mixing the coins, an investigator will be able to deduce who sent what and who received what. The maker of coinjoin, Gmaxwell, deeply criticized Darkcoin since it's coinjoin based "anonymity" is basically a joke.

4) Darkcoin's mixing system/coinjoin relies on something called Masternodes, Masternodes are nodes that are set up by people, anyone can set one up, and Masternodes are the things that mix the coin around. Masternodes also present many risks besides giving trivial "anonymity", if all masternodes are owned by one individual, he will be able to "de-anonymize" Darkcoin and see all transactions clearly.

5) Darkcoin's Masternode Payment system has forked the network many times, and has failed Twice in the effort to pay the owners of Masternodes.

6) Darkcoin's Masternode/Darksend system is closed source, so that means the developers could be stealing coins, or doing any other malicious things, and it will remain unnoticed

7) The Masternodes can always be DDOSed, effectively shutting them down, if the majority of Masternodes were taken offline(they are mostly hosted on Amazon servers), then Darkcoin's trivial anonymity will completely shut off

There are many many other flaws, it will take up too much space to list, so I've listed the main ones.

Monero's Flaws:

1) Monero's bloating/scaling is an issue, where the blockchain itself takes up a lot of space on someone's computer, however, there have solutions to this, as shown by Crypto_Zoidberg, after he fixed this issue with his own coin. The issue has pretty much been fixed anyway, since bloating was caused by dust payments from pools, and with a recent update, those dust payments have been taken off. But because I think it will look to unfair compared to Darkcoin's 101 flaws, I had to list a "flaw" for Monero

2) That's it.

CryptoNote doesn't hide the amount and the payer is mixed with a limited number of numerous other potential payers, so the IP correlation can be used to narrow the possibilities statistically and home in on identity, by observing patterns across all users. Thus the lack of IP address obfuscation in CryptoNote (assuming Tor is really a honey pots, and or most users fail to employ Tor) reduces the anonymity. -gmaxwell


While it may not be able to scale at Bitcoin levels, Monero's chain atm is twice Bitcoins, which is very reasonable considering it gives the highest level of anonymity there is for cryptocoins right now. He also doesn't say Anything about it being impossible to reduce, why you may ask? Because Crypto_Zoidber already reduced it for his own coin and reduced bloat by 50%-70%, and Monero also reduced the majority of the bloat, which was caused by dust transactions. Again, BrilliantRocket, it's either you greatly misinterpret information given to you, or you lie and try to manipulate others with selective wording

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CoinJoin’s algorithm suffers from not being atomic and thus it can be repeatedly jammed by an adversary, i.e. denial-of-service. This is because first the inputs have to be collected, then the outputs have to blind signed with a group signature, and then finally all inputs have to signed. If any one of the participant senders fails to complete all the steps, the transaction is jammed and the process must start again. All proposals for throttling or blacklisting adversaries was argued to be ineffective and intractable. Darkcoin innovated CoinJoin by adding a collateral payment which is forfeited by participants who fail to complete all steps. This requires a random master node to break the unlinkability as it knows the matching output of each input. It is assumed that not all master nodes will be adversaries and thus sending multiple times through different master nodes will provide a probablistic level of unlinkability. The master nodes are purchased and it isn’t clear that a sufficiently powerful adversary couldn't sufficiently Sybil attack by acquiring a larger percentage of the master nodes. There is also concern this might also enable the adversary to steal collateral payments. Also the master nodes aren’t untraceable and thus could perhaps be held liable by governments for breaking AML and KYC laws. CoinJoin and Darkcoin suffer from the simultaneity timing problem that other spenders need to send spends of the same amount simultaneously. -gmaxwell

Gmaxwell also shows that while Darkcoin have "advanced" coinjoin, it still suffers from the same issues, not to mention the Masternode centralization problem.

Darkcoin's anonymity is simply put, Trivial and Inferior to Cryptonote anonymity.

But you are talking about the original crypto and the original altcoin, can't really compare. Not saying Monero hasn't got potential to reach like 100$ eventually if it gets the "anon coin throne" that it deserves, im just saying mining is so fucking slow that unless the coin skyrockets real high, it's just useless considering you can damage your computer.

Man, you are full of shit.

Didn't you read my previous post ou weren't you able to understand it?

Less coins will be dumped but those coins will be worth more, so it would be the same, exactly the same !

The real challenge is all about getting vertcoin some publicity.

Honestly what are the chances Monero can give similar returns as Bitcoin? lets be real. Of course big gains will happen with Monero, but to get any relevant gains mining with my shitty rig (Q6600 CPU and r7850 GPU) Im not sure about it, specially considering I can fry the thing in the summer. With my computer i would be aiming at like 0.2 MRO now..

Man i'm begining to think you can't even read.....

As I said before, i do think we have a problem and I know the price is dropping.

All i'm saying being : i'm not convinced that the amount of new mined coins is causing the price drop and i'm not convinced that halving the block reward will help.

LEARN TO READ !

Also, how halving the block reward will reduce the number of coins being dumped?
There will be less coins but according to you they'll be worth more ! So it would be the same.

Once again, the price is not driven by the block reward but by the buyers and sellers.

It won't, so GET OUT NOW !!!!



Also, you didn't answer to anything, you just claimed to be a god because you had 112 activity and claimed that we were newbies.

at some point it will not be profitable to mine and dump at low prices because of ELECTRICITY COST and we are almost at that point now nobody will just "mine and dump" while making a loss because of electricity cost , your huge experience in cryptos didn't tell you that simple fact ?! also u are so full of it u speak like u r the god of all cryptos and saying that user has 4 posts or that user has  posts , while all you have is some 120 posts yourself that doesn't make u anything special u see i can make those 120+ posts in one day so stop it your posts are full of arrogance and just down right irritating !

So, you are admiting that halving the reward will only lead to a pump that will allow all the bagholders to dump, thus making the price dive and in the end kill the coin.

dont mess with WHaze... he doesn't like to hear that.

i guess he doesnt get it... i was talking to a guy to use VTC as a payment method for his online shop, especially since SX came out.

but how can i explain to him that this is not another shit coin, when he asks about the decrease in price?

of course Bitcoin will be preferred in this case... explaining that VTC is here for a more decentralized matter doesn't make him feel better then...

Halving the reward isn't a good idea, sure it will benefit all the coins holder/investors like you, but it also will be really unfair for new comers.

With such modification, the price may rise enough (for a short time) for you to get out without loosing money but it will also kill the coin.

This is something that I can work with as it is not as drastic as halving or severely reducing the block rewards as some people are mentioning. Because we have people wanting to fix the inflation and others do not. I think we, the vertcoin community, just needs to meet in the middle somewhere; a smooth gradual reduction overtime may be the best option, like Othe mentioned.

There is just not enough evidence, facts, or information in reducing the block rewards will save vertcoin. Theoretically, you would think so, but it is not always the case and this is why I cannot agree with reducing block rewards significantly or halving the blocks rewards, yet. Yes, some coins may be lucky, but some are not. If something needs to be done with inflation, then, Othe's opinion has my support!

With that being said, the inflation concern is being heavily discussed and it is not an easy decision for the development team as there are many opinions in what people want. At some point, there will be an answer to this inflation concern. Stay calm, relax, and enjoy the weekend!

Cheers!

what's up with all that moaning about the block reward .... changing that very aspect of the coin will undermine it's long term credibility big time !!

stop suggesting this periods !

all alts are down it's not just vtc .... relax people !

This sucks, and I feel bad for the OP, but since so many people say that BTC is not truly anonymous, with this much money at stake, with such a large bounty, I suspect we'll be learning soon whether or not using BTC can be truly anonymous.