If DRK had a counterparty component, we would have the grounding for anonymous DRK contracts - the price of each DRK would go to $30 in about 2 weeks.

What are metacoins?

If it was a means of getting instant transactions, I wouldn't rule anything out. I know realistically they are against forks unless needed for bugs.... but..... one of the biggest complaints about BTC is 10 min confirms and how impractical it is from a POS standpoint. Just wanted to know if there was anything inherently different other than collaterialing coins per node.

Can you run a master node on test net and mainnet on same vps(ip)?

@lonecrouton, having only masternodes will highly centralize dark. There is thousands of miners, vs a thousand and some masternodes. Centralisation.

So if the MN ping each other to validate the same tx is being broadcast, anyone with a huge chunk of nodes can subvert InstantX. In this case, it is possible to perform a 51% attack.

If I understand it correctly masternodes locks transaction and broadcast it to the network as confirmed and prevent from double-spend. It is not yet confirmed by mined blocks as it should be but network sees this locked tx as spendable (confirmed). Basically MN confirms that for you and lock it but network doesn't.

InstantX is a powerful thing. Can be very dangerous for DRK if someone could misuse it before it mature

Thats the whole point. With InstantX, make it default and thats it. No more GPU mining. No more ASICs forever. Just very low CPU intensive algo daemon mining + MN PoS in one, and done deal.

 That would essentially devastate BTC altogether.

are you shure?
i thought master nodes just lock amounts until its processed by miners to the blockchain.. but didn't follow the conversation about instantTX entirely

BTW, I dont know if this has been addressed since I was without internet the better part of last week... but with InstantX, if the Masternodes are confirming the tx, then what is the roll of miners?

Want to report that the unpredicable varaiance has stopped for me.
Momantary it looks like i receive a payment all 1100-1300 blocks.

I only have one MN, so i think others owning more MN can report the same ?

First comment from "my genius" after he has spent an hour or so looking over all that stuff:

"I find a blog that is useful:
http://www.righto.com/2014/02/bitcoin-mining-hard-way-algorithms.html
Note that finding a successful hash is an entirely arbitrary task that doesn't accomplish anything useful in itself. The only purpose of finding a small hash is to make mining difficult, which is fundamental to Bitcoin security. It seems to me that the effort put into Bitcoin mining has gone off the rails recently.

 
Further note that the result of all of this work is a 256 bit number. DUH. There are ton of ways to create an essentially random (and scarce) 256 bit number. Scarcity is really the main property here. I do not believe in my mind of minds (heart of hearts) that scarcity is that hard either. All of this makes me think that the core mining thing in Bitcoin is just wrong.
 
But I suspect that mining bitcoins is a dying industry, which may well have been Satoshi ́s intention. Get a finite stock of Bitcoins out there then go ahead with scarcity established.
 
All of this rant because I woke in the night with an alternative to mining. Let the coins be kicked out of routers ( the things that tell packets that make up the lower levels of the data transmission under the Internet where to go) as a by product of doing useful work. So every router on the Internet becomes a source of coins. essentially his would ba commodity based currency with the commodity being packets. <or something like that. The amount of currency would scale with the number of packets flowing. This is appropriate scarcity, not the arbitrary scarcity of the bitcoin or gold.
 
I do not know if this makes sense or not, but it might. Needless to say,, as you have heard me speculate before, I prefer commodity based currencies (cryto anonymous currencies but commodity based.) Packets are the beans and rice of modern communications systems.
 
I do like and appreciate what Darkcoin is doing in the layers they are building on the Bitcoin though and will dig deeper."


While I have no clue what is he talking about, I will let you know what he has to offer, if anything, after he has, well, dug deeper

Lonecrouton this is EXACTLY why crypto has so little take-up. Mainstream PC/tablet users DO NOT double click on executable files to run software. They "install" whatever app they're wanting to use then go to the start button to run it. If crypto is to achieve any level of mainstream acceptability it HAS TO confirm to norm in the way apps are distributed, installed and run.

The rest of us here (especially if we're running MNs) know all about where the files are, what some of them do and how to fix syncing/blockchain issues (peers.dat, etc). But anyone who's not confident dabbling around within the file structure of their device (which is millions and millions of people) will just be completely turned off by the need to find their way down to a directory and run a specific executable.

I'm quite confused. This is what I've always seen when I go to the download page:



All this time I've just been downloading the "Windows (zip)" file and then wherever I unzip it to, double clicking darkcoin-qt.exe in the \32 directory to run the Darkcoin wallet. I've never had any wallet issues but neither have I known I was running the "binary version", I just assumed there wasn't an installer (which I thought was something that would come eventually when the whole project is out of beta). I downloaded "Windows (zip)" because the other option is "Windows (32-bit)" and I'm running 64-bit so assumed "Windows (32-bit)" would be the wrong version for me.

This is very confusing. As well as getting the installer version issues fixed (as per PatMan's posts), we need far greater clarification around this labelling. There should be a "windows installer" version or a "run directly" version. Non-technical people won't know what all this means. It's probably one of the reasons why someone like Bagholder010 (who had the 14K DRK on Mintpal and got another 14K DRK during the V2 shenanigans) doesn't know how to use a wallet on his PC; it's too complicated having odd terminology like this. The wallet should be easily downloadable by noobs and non-technical people with an easy upgrade process that actively assists people to ensure they don't write over their wallet.dat. The labelling on what's being downloaded needs to be much clearer and consistent. The techo/boffin aspects around the wallet are still way too dominant for widespread adoption.

If Darkwallet have succes why people choose Darkcoin?
Thanks

what is the security issue? i missed it.

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I wasn't ever convinced about the anon coins.  They always seemed like pumps to me. 

I am more excited about the Darkwallet though for Bitcoin.  It is in Beta right now, and yes, I am sure even when it has a full release that it will still be crackable, but it will be much more difficult. 

I actually don't have anything to hide, but I don't want to be tracked and monitored either, so a solution like a Darkwallet is a pretty good middle ground for me. 

I think a totally transparent is actually key to Bitcoins success.  Then the people can demand that all official transactions by the government be made open and traceable.  That way the people can hold the government accountable, but in reverse, if people want to blur their identity and protect their privacy with certain wallets, I think that should be an option too.

Hmm I wonder if there is a way to use transaction locking to help with randomizing the fees. Have the number of blocks that the fees are frozen for be a randomized number between 3 and 8. The fee is not spendable anymore and will be deducted, but the transaction is off chain until the randomized amount of time? My brain hurts.