Fad and won't work i'll tell you why
Apart from the possibility of regulatory issues, if the blockchain/transaction record is hidden, then groups of pool owners of large pools could potentially collude to double spend, and if there is no transaction record, then this will not be detectable. Other such scenarios exist as well - remember that the blockchain is a public ledger designed to prevent or record fraud. Hiding this exposes the coin to serious risks.
The only anonymous coins that will hide the blockchain itself is zerocash, which hasn't even been released yet. Monero/Cryptonote doesn't hide the blockchain Darkcoin/Coinjoin doesn't hide the blockchain You can still see what pools have what hashrate, double spend attacks, etc on Cryptonote coins and Coinjoin coins. Zerocash is the only one where the blockchain itself is hidden and you can't see anything at all. And there are ways to regulate anonymous coins to prevent fraud/money laundering, via the exchanges they're traded on, just like USD/EURO etc etc on PaypalAs far as i know dark hinders to detect the source and destination of payments within the network so making it hard to identify wallet addresses and following transactions through the block chain. So like i said earlier one of the main reasons of a public ledger is to prevent or record fraud. Hiding this exposes the coin to serious risks. In case of MtGox it would be not possible to follow coins if it would've been with dark, or other scenarios where there is need to follow the coins. That must be a feature Darkcoin will have in RC4? There's still the option to use regular sending like with Bitcoin, and Darksend, so Darksend isnt mandatory. Also, Cryptonote coins dont hide the blockchain.....so I don't see how this would be a issue for them. |
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Vertcoin devs need to update BLOCK REWARD, this coin's inflation is so high, it's loosing over 4% value per day. This is extremely depressing. CHANGE THE BLOCK REWARD. THERE ARE TOO MANY VERTCOINS BEING MINED PER DAY.
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Also, Brilliantrocket quotes a statement that Anonymint made, but then was proved to be wrong.
Would you, Brilliantrocket, like me to quote everything gmaxwell, the creator of coinjoin, has said Against darkcoin and how it isn't anonymous and is never going to work/be taken seriously? Along with everything Anonymint said against Darkcoin and how it's "anonymity" is Trivial? Would you also like a little read up on the Darkcoin 50% instamine for desert?
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Brilliantrocket is a Darkcoin supporter.
If anything, Darkcoin will never ever make it far, simply because of it's Name, 50% Instamine, and Centralizing Masternode system.
The masternodes centralize Darkcoin, people elect to run those nodes, if anyone were to buy up all the nodes he/she would be able to de-anonymize transactions(coinjoin which darkcoin uses isnt anonymous anyway)
Darkcoin's 50% instamine by their own Dev team is a crippling factor
Darkcoin's name, Darkcoin, makes it seem like it's affiliated with underground activities like the Darkweb and Drugs etc etc.
The fact is: All that's done to Darkcoin right now is Hype, and pumping/support by large whales. No normal bitcoin user/person on the street will ever use Darkcoin because of just those 3 reasons above and there are dozens more.
And another thing, with Cryptonote coins, you don't need masternodes that can be centralized, to provide anonymity. Even with those masternodes, Darkcoin's anonymity is trivial compared to Cryptonote's Ring Signatures anonymity, which provides the highest level of anonymous transactions there is for Cryptocoins.
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I remember someone saying something that is worthwhile to note :
What if you paid your dentist in bitcoin the first time you had an appointment , the next time you go he would know your balance and charge accordingly
That is actually very true. since bitcoin is so transparent, everyone will see your balance and I'm sure as hell, that most bit coin users don't have multiple wallets to try and hide their true balance...for the regular bit coin user, they most likely keep their funds in one wallet...which would increase the likelihood of things happening similar to the post I quoted. Even minuscule things like that is why privacy for crypto coins is needed, anyone who can't see that is beyond ignorant and can't be helped, just like those people who were skeptical of bit coin in 2010 and 2011 |
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I don't advocate Monero
I simply despise scam coins with scam premines like Bytecoin.
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dan did an mtgox...
Correct, there was no hacking. Dan simply took the bitcoins and ran away. I knew something like this was going to happen, and I've warned others to not invest into eMunie prior to this, it was just an elaborate scam. Even the way he typed, he felt so forceful in trying to get others to believe in "what he was doing". If you read up on Dan's past, you'd see he made a living off of scamming people. This is very sad to see.....Wow. https://bitcointalk.org/index.php?topic=411366.0 That thread shows how Dan used to scam others for a living. |
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BTW, The anonymous-coin market has not even begun to began. The anonymous/privacy centric coin frenzy, will begin when the first anonymous/privacy centric coin passes Litecoin in marketcap. Once that's done, expect waves of "anonymous" copycat coins.
Passing Litecoin will start the age of Privacy, and end the age of ASIC resistance etc in cryptocoins.
Sounds good, I just hope one of these first coins to surpass LTC are cryptonote based like XMR or BBR, darkcoin and others are not really anonymous. Yea, I'm saying that because Litecoin ushered in a age where coins have to be asic resistant etc. Once a privacy centric coin like Monero/Cryptonote passes Litecoin in marketcap, that'll usher in a new age based on privacy features. |
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Darkcoin will take Litecoin's spot as #2.
Litecoin devs arent going to implement anything. Stop hoping.
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IMO, we'll be seeing another run-up/pump soon enough. The job is to spread the word, that so far, only the cryptonote coins like Monero provide anonymity right now.(coinjoin used coins are not anonymous)
Actually this brings up a decent point. Monero has news on twitter, facebook, google plus, here, a community forum and reddit, and IRC. Most of those are so saturated or distant that we can easily be missed if we're looking to bring in someone new .. almost like we're hiding in plain sight. There's lots of other places to target if we're looking to spread word. If the GUI wallet bounty was to be claimed in the next 24 hours, and with the tx splitting a thing now (I think it's in the main repo) .. there's really no real reason not to start branching out more than we have already. Actually it might be a perfect time to see if we can bring in total outsiders. I'm not talking about a massive push, but just mention it once and see if you get even one person interested on the internet. Does anyone know of or have a list of forums or blogs or just groups of people that you think would be interested in cryptocurrencies? Most anyone I talk to right now outside of the internet thinks that all digital currencies are just called bitcoins .. in the same way I would call the paper in my wallet a bill. Might be worth putting a list together at least, even if we dont spread word there yet, of anywhere we'd like to spread word. Maybe someone's already working on this, but I haven't heard anything about it so I'm guessing not? Specific groups I'd think about targeting are people who spend more than 3-4 hours a day on the internet and are specifically interested in computer-based hobbies such as gaming, programming, small online retailers, or just people who spend their time in forums. This is a broad list, but there are specific sites that these people can be reached at. I'll start writing it up, and am welcome to additions/sharing it through PM. Yea, like getting Twitter and Facebook marketing. Having articles done/press release etc. |
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BTW, The anonymous-coin market has not even begun to began. The anonymous/privacy centric coin frenzy, will begin when the first anonymous/privacy centric coin passes Litecoin in marketcap. Once that's done, expect waves of "anonymous" copycat coins.
Passing Litecoin will start the age of Privacy, and end the age of ASIC resistance etc in cryptocoins.
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Now that it seems like the initial anon shock phase is over, how do you or anyone think the market for anon coins will play out?
The only thing I can think to compare it to is anoncoin, but that doesn't seem like a good comparison.
Stability would be interesting to achieve. I think I remember almost two full months where the price of DRK stayed at .0017 barely budging until competition heated up.
Do you think this will repeat if more new competition is introduced .. like maybe if someone put out a zerocash coin? Or should we be settling in for a longer (possibly) wait of a period of about 6 months until (for Monero at least) there's a real QT wallet/I2P is in place/open source miners are completed?
I think the market as a whole is retracting (25% this week). Could pullback another 25% at most IMO. Kinda funny to see all the pumpers on twitter "shut up". They want to be back - I guarantee you - everyone is just waiting for "action". At that point, it's a total guess as to whether Monero has another big run up in the near future. All that matters long-term is continued adoption. Patience of 1-3 months at least is vital for buyers at current levels (like myself) weather the current market, which is the equivalent of a mini-recession for alts. I have no guarantee it will recover, but you be happy now about dumping stocks in 2009? XMR could certainly trend down to 0.002-0.0025 but I'm not chancing it. No way it goes below those levels without a catalyst though. I don't see it going much lower after a GUI bounty is named in next 24 hours, as that should calm FUD and help bring in more users. If this next month is anything like the last 0.004-5ish should be relatively safe by Aug. Hopefully over coming months we see more ways to use Monero, and either a secure online wallet or condensed blockchain to increase adoption. The devs seem to have a TON of cool features flying under the radar like Mobile client  IMO, we'll be seeing another run-up/pump soon enough. The job is to spread the word, that so far, only the cryptonote coins like Monero provide anonymity right now.(coinjoin used coins are not anonymous) Hell, Im cutting a damn good amount of my expenses and raising $ to buy more monero. The only anonymous/privacy centric coins worth considering, are Monero, Darkcoin, and Vertcoin for obvious reasons. xmr has ring sig, drk has masternodes, vert has stealth addresses. |
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For EX: The first 50 accounts on NXT's richlist own over 48% of all coins there is...
But the bitcoin distribution is not much better, is it? By Risto's estimates, 50% of the bitcoins that exist now are owned by a few thousand people -- isn't that so? Future mining may reduce that to 25%. Or may not, depending on the relationship between miners and hoarders. Either way, it is a significant concentration of the future world's money supply in a few hands. I wonder what's better. A few thousand people owning around 50% of all Bitcoins, which presents no harm to the network besides a few thousand people owning around 50% of all bitcoins.... OR50 people owning over 48% of all NXT coins, which if one person decided to buy up 51% of all NXT coins, he will be able to do the Nothing at Stake attack on NXT, from that point on forever....even if he dosent own 51% of the coins anymore. I'm sure the first option with Bitcoin is 10000000x better than the 2nd Option with a PoS coin aka NXT. |
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For the moment, PoW is simply better.
I do agree however, that PoW transitioning into PoS over a period of time is the best way to go.
But, Pure/100% Pos is one of the worst ways you can go, as you see with NXT.
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Any PoS coin that has an IPO will never get far. Incase you guys haven't noticed, Bitcointalk.org is not the public, having an IPO where even 10,000 "real" members take part is still an extremely unfair distribution.
With PoW, anyone can go and try and mine, no matter how late they are to the scene. I had a friend try and mine Bitcoin on his cpu, hey at least he tried and could of gotten some if he was successfull, but that could never happen with PoS coins.
Darkota, not get offended please, but you are an ignorant prick. What is the different between buying a coin and buying the mining equipment to average joe? If you have spent 10k usd in mining equipment and IPOs take the lead, dont be so butthurt and open your mind. You are welcome. Are you this simple minded? With an IPO an pure PoS coins, there is a limited amount of time you are able to become a stakeholder, so the ones who get in early have a hugely unfair advantage over everyone elseWith a PoW coin, you can always mine if you want, for decades to come, and the ones that get in early have an advantage, but not by that much.(Ex: Bitcoin etc etc) For EX: The first 50 accounts on NXT's richlist own over 48% of all coins there is...Do your Homework please. That's not a good argument sorry. On PoW, few big miners/company will be owning over 50% of the hardware so, it end up the same. Actually, it is worse : 3 pools own 95% of the network. That's for Bitcoin only you're talking about. Even so, it's still better to have Pools owning most of the hashrate, instead of a small amount of people, like in NXT, owning most of the coins. The Nothing At Stake attack for PoS coins is so, that if you ever held 51% or more of all coins, you will always be able to do the Nothing At Stake attack, even if you dont own 51% or more of the coins anymore. With PoW, having 51% of the hashrate increases the chances of being able to do a 51% attack, but only for the amount of time you own that much of the hashrate, unlike PoS, where even if you owned 51% of the coins at any moment in the past, you will always be able to do the attack. I'm sorry but PoS has to many flaws, like that Nothing At Stake attack, is 10x worse than a 51% attack for PoW coins...There's no point in argueing because you know it's true.. |
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Classic mistake. You equate valid concern around lack of progress with dislike for the currency. It is in fact, the oppostite. If I didn't want XMR to succeed I wouldn't bother posting. Just want people to understand the true state of progress on here. Ignoring it or pretending the devs are somehow making great progress is exactly the wrong thing to do. I'd much rather have a realistic view of the things I invest in than be a sunshine pumper and say everything is great.
It seems like you have a strong dislike for this currency...
Incorrect. I said it seems like that. Do not put words in my mouth. Specifically what I'm equating is that you have not mentioned even one single thing you liked about this currency -- to which I asked you to present, in the least, 5 things you currently like since the project started. After that, I will accept your concerns as valid just like any real person. Before that, you're just a concern troll. Realistically, you've mentioned exactly zero things you like about this. I asked you to name five. Everyone has concerns (you more than many), but if you can't even come up with 5 things that you like then you will be added to my ignore list (or at least I'll say it and continue to reading your miserable posts anyways  ) That's because Mumbles is doing what I call, "Fake-Friend-Trolling", where he trolls a coin and pretends to like it, while trolling it cleverly in an attempt to make it seem as thought there are no good features, only bad ones. He most likely represents a competitors of the coin he's trolling, hence his Newbies status, he's probably a sockpuppet account. I'm a Alpha-Member Troll, Mumbles, I know all your tricks. |
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 PoW PoSOne uses a lot less energy. Which would you rather drive?
I still have yet to figure out what makes a PoS coin valuable though... |
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Any PoS coin that has an IPO will never get far. Incase you guys haven't noticed, Bitcointalk.org is not the public, having an IPO where even 10,000 "real" members take part is still an extremely unfair distribution.
With PoW, anyone can go and try and mine, no matter how late they are to the scene. I had a friend try and mine Bitcoin on his cpu, hey at least he tried and could of gotten some if he was successfull, but that could never happen with PoS coins.
Darkota, not get offended please, but you are an ignorant prick. What is the different between buying a coin and buying the mining equipment to average joe? If you have spent 10k usd in mining equipment and IPOs take the lead, dont be so butthurt and open your mind. You are welcome. Are you this simple minded? With an IPO and pure PoS coins, there is a limited amount of time you are able to become a stakeholder, so the ones who get in early have a hugely unfair advantage over everyone elseWith a PoW coin, you can always mine if you want, for decades to come, and the ones that get in early have an advantage, but not by that much.(Ex: Bitcoin etc etc) For EX: The first 50 accounts on NXT's richlist own over 48% of all coins there is...Do your Homework please. |
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Not to mention with PoS, if you own/have ever owned 51% of the coins, you will always be able to do a 51% attempt on the chain through the nothing at stake attack. It's just stupid, PoS. I'm sure satoshi thought of it, cause there's way too many flaws with PoS, just go google it.
So theoretically, does that mean if the dev mined the first block alone, would that mean the dev can now always take over the network at any given time? The first block usually cannot be used for anything, nor even spent. But any after that, then yeah. Wow. So the implication is, the currency could never be trusted fully as being secure especially if it becomes valuable enough to implement such an attack. Would it be possible to create such an attack under the radar without affecting the network or raising suspicion that something was up? Well, for ex: The first 50 addresses on NXT's Richlist own over 48% of all coins there is. I would say an attack like that happening is very likely if someone wished to do it, but as you know many people avoid NXT,there aren't many buyers, so buying up the coins and doing an attack like that would just be a waste. |
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So basically, everyone agrees that Nxt is dead  Until there's a PoW version, I will not be using that scam distribution coin that we call NXT. |
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