One question about InstantX please.
If I receive an InstantX payment can those InstantX funds received be spent immediately, or must a person wait for mining confirmations before being able to spend them?
So.
1. I have 0 DRK
2. somebody send me 10 by InstantX
3. How long must I wait to spend them or may i do so immediately after receiving them?
thansk
InstantX gives you immediate certainty of ownership, but you have to wait about 2 mins to spend the coins you received. This is important and a good practice because we still have an underlying Proof of Work network. Basically, the merchant has to wait 2 minutes to spend his coins but the customer can pay and leave the premises with his goods after 4 seconds. That is the beauty of the system. Warning: ChildHarold is a known SDC shill, that has killed his own coin with his hype and immature behavior. He normally comes here to troll in a subtle way. I believe he is like 16 years old so please be understanding. He asked a proper question that was discussed in the SDC thread (irc). You gave him a proper response and after it called him a shill and a troll. That pretty much makes you the troll. Before calling me a shill also, I like both SDC and DRK, now you can implode in peace. We have 4157 pages (more than a year) of experience dealing with trolls in our unmoderated thread. Warnings like Minotaur did are very welcome here. I was curious on the answer too. Problem is, that is not really an interesting or even relevant question. Hence why it came off as a troll (maybe it indeed wasn't). The WHOLE point of IX is to guarantee the receiver his/her coins without having to wait for the standard 3-6 confirmations to rule out a double spend. This guarantee is really only needed for point of sale situations as well as for sending coins to exchanges -- and in both of those cases the same coins are not likely to be spent again within 2 minutes. IX was never really designed to offer an advantages in normal person to person transactions where a service is not expected upon receipt of the coins (I'll admit it is still cool to use even in that situation). In those type of transactions where you are sending coins between wallets or lending money to a friend there really nothing lost in waiting for a single confirmation per usual. Edit: Actually, you CAN send the same input immediately after it is confirmed by IX. Hmmm, I don't remember it being like this on testnest. Oh, well even better.  |
|
|
|
Don't let him get you riled up.  Everybody knows that it is illogical to hold on to stolen coins for months waiting for a pump that may never happen. On the other hand, dumping straight away would sound alarms. Personally, if I were the robber, I would wait until DS implementation (check!), DS myself the amount to multiple addresses, and setup a shitload of MN's. Then, cashout those minted coins. Yeah true. I hadn't heard anything about it so I just assumed he has been selling off slowly and was part of the reason why for 3-4 months we were at 0.005~0.006. |
|
|
|
they can try and dump...but look who is @ 0.012
what about the mintpal 160,000 stolen DRK wallet can't he still get #rekt? those drks are dumped long time ago  proof? will give you proof when you give me proof, who stolen them? and does he still have them?  or maybe you are the one? edit: here is the proof... we go up again! Don't let him get you riled up. Everybody knows that it is illogical to hold onto stolen coins for months waiting for a pump that may never happen. |
|
|
|
- 5 minute block target
- 6 Confirms per transaction
- Difficulty re-targets every 60 minutes
- Block reward controlled by moores law ( 1111 / (diff+1 ^ 2))
- 11 chained hashing algorithms
- Premine: 0%
Since the reward is variable and depends on the difficulty, is there a maximum amount of coins to be mined? A maximum amount of blocks? Yes, the max coin amount is 84,000,000 its 22 M or 84 M ?? why in first post say 22 M max coins ? The number of coins minted is based on difficultly. We could reach 84 million in theory, but only if difficultly fell off a cliff (not going to happen). The higher the difficultly the fewer number of coins per block (down to a limit which is currently 4.65). Thus 22M is a estimate based on expected difficulty levels. |
|
|
|
Wow this coin is really going strong. Where will this end?
Well I am too scared to sell any now! If we apply btc history here it will be interesting around ATH ( for DRK )! where is ATH is ? 0.0274 on Cryptsy 15$ is the ATH which is actually far more than 0.0274 .. Well yeah... at the time BTC was worth much more than $220. Personally, I don't really consider the dollar amount very much because all of the volume is on DRK/BTC (and not DRK/USD) and BTC will do its own thing regardless of DRK. |
|
|
|
Wow this coin is really going strong. Where will this end?
Well I am too scared to sell any now! If we apply btc history here it will be interesting around ATH ( for DRK )! where is ATH is ? 0.0274 on Cryptsy |
|
|
|
WALLS @120  WALLS @120 which is the reason for buying so high??..... Well not really... That is part of the reason, but the real reason it is rising so quickly is that nobody wants to sell their coins because DRK has such good fundamentals. (Oblox had a really nice list a few posts up.) I mean look at the ask side liquidity on Crypsty. You *never* see that thin of a order book on the ask side during this kind of sudden price spike as people usually place orders to catch panic buyers. That alone should tell you that this is not your normal price rise and that the buy wall has only a little to do with the market movement. |
|
|
|
On mainnet, 3.5 seconds for confirmation Status: 5/confirmed (verified via instantx), broadcast through 21 node(s)
Date: 2/10/15 08:46
Debit: -3.14 DRK
Credit: 3.14 DRK
Transaction fee: -0.01 DRK
Net amount: -0.01 DRK
Transaction ID: f20198faa0da8939a0e36cbcc9b8b89ca2930416c911e5853b1630722334e2e4-000 WOW!! I just did an instantX transaction in 4 seconds on mainnet.... This is even faster than we thought :-) Edit: faster than Credit and Debit cards :-) 4 seconds is incredible, looks like the messaging system I wrote is working perfectly That's also mean that the MN network is really healthy. no? I really thought I could get 7 seconds all along, but 5 seconds is insane. That sure is! Now all we need is to have the exchanges tx in the same fashion and we'd be golden! Yeah getting the major exchanges on board would be very nice. That and adoption at more retailers. I'd imagine that for a retailer, knowing the coins are yours without having to wait for 3 or so confirmations would be a nice feeling. |
|
|
|
Just tried IX AND Darksend... Working!! Took less than 5 seconds! You're hilarious blocking the to address but leaving the TX id. ROFL. Right... that was dumb...  Oh well, it was a fresh wallet anyway.  |
|
|
|
Just tried IX AND Darksend... Working!! Took less than 5 seconds!  |
|
|
|
is it safe to do an instant x deposit of drk to cryptsy?
was just to check how fast it would go...
but it's been 15 minutes and still nothing confirmed
Well for one masternodes have not updated yet (image crossposted from DCT):  Also, does anybody even know if Crytspy is property configured to take advantage of IX? If not, somebody on the core team might want to get into contact with them... |
|
|
|
Wow! I was expecting this kind of rise once IX hit mainnet, but to touch 0.01 at this point means that some big fish want to make sure they get theirs ahead of any news. Today is a good day to be a DRK investor. |
|
|
|
So? Now are 2100 MNs and the number is increasing!
You argue to argue I don't tell, that I invested money and Evan must guarantee return of investments, etc. I tell, that MN payouts have to work properly as any other function. I understand, that working process is complex and nothing can be ideal. It's simple to undestand, that it's not normal situation and you try to prove contrary. Could you please read it again. DRK is in the development and since it is in the developemt, MNs payments are not going to work like if it was developed, because it is in the development! Work is in fucking progress! Like you go to unfinished house and complain why the elevator is not working as it was promised, well its not fucking working, because on the second floor electrical ecquipent is being install and needs the power to be fucking off for a few days.. What is wrong with you? I can't interfere in development process, but I think it's strange situation, that MN enforcement is off several days, but IX testing is in active stage. Maybe MN enforcement (mainnet) is less important, than IX (testnet). Imagine house with previously working elevator and in time people have to go on foot because elevator not working and team work on landscape at the moment. Multiple things are being worked on simultaneously as is evidenced by the release notes on testnet. Instantx just garners the most attention, but that does not mean it is the only thing in progress. Btw, there are over 2000 masternodes and enforcement has been off for like 48 hours. There is no guarantee that you would have even been paid during that time. |
|
|
|
Idiotic drivel...
Idiot! Masternode payments are not off and have never been turned off since last May. Evan can't turn them off anyway. Enforcement is off while a bug is being fixed. If your node has not been paid for weeks on end then you botched your setup. And judging by your intelligent  post... this is likely the case. |
|
|
|
Been testing InstantX in the test environment - absolutely amazing work by Evan.
Full transaction confirmations are blindingly quick with Masternode locking.
InstantX is looking very solid - cant wait for the production release.
Try DS too, I just did 3 rounds in 10 minutes. The DSTX messaging system is working really well The next release I might just go ahead and blind the whole masternode system. The security at that point will be insane, each round theoretically is as secure as how many inputs you used. So 3 rounds will on average be the same is 30-60 rounds. LOL !!!! so 16 round would be like 160 - 320 rounds? !!!! LOL LOL LOL Actually it's a bit better, because I was just including 1 parties outputs. Let's say there's 15 outputs per party and 3 parties, thats 45 outputs. So 16 rounds would be as secure as 16*45 (each inputs has a separate relay). 720 rounds! At that point even 2-3 rounds is more than enough. Absolutely awesome! If possible, I would love get one of those flow charts (like the ones we had for the original DS and RC4 DS) so that the layman also understands the awesomeness of this development. Blinded MNs+ IP obfuscation (still in the pipeline, I assume) = Darksend is bulletproof from an anon standpoint as well as a FUD standpoint. Can't wait! |
|
|
|
I'm going to contact the author of this and see if I can explain the strategy of Darksend. Maybe I can get him to understand the insane amount of security that provides. In any case the way, the CoinShuffle methodology of blinding masternodes IS compatible with DarkSend. This would effectively remove the need for "rounds", even though users could still use them if they wanted. This also doesn't generate any issues from the security advisory, but for them to effectively fix their security they must adopt denominations, which isn't going to happen. As for DarkWallet, Amir is convinced using powers of 2 denominations is safe, which are as insecure as using the unique amounts (I'll write the deanonymizer as soon as they implement it). The future for Bitcoin mixing doesn't look bright, I don't believe there is a comprehensive solution. In coinshuffle, each output is sent to the next peer in a circle, one at a time. The new peer adds an output, shuffles and then sends the list again. We can do this and actually improve upon it. To implement blinding, each user would connect to one completely random masternode and say "Send masternode X this output/value for mix N" and pass a single output. That output would be passed to the leading masternode. It would take access to all masternodes used to know who did what, which is as solid as M rounds mathematically (M = number of outputs). This is great because all users can submit all inputs at once. So it's super fast compared to Coinshuffle and even more secure. Wow Evan! Reading this post has really really gotten me excited! Even though it was already extremely unlikely you could be de-anonymized with the current method, FUDDers could always point to that small chance and make a big deal out of it. With the masternodes blinded, however... dare I say NSA proof level anonymity. OK, maybe that is going a bit too far, but nevertheless I can't wait for this development! Maybe it is time to go on another DRK shopping spree. |
|
|
|
Didn't Evan just comment on the weaknesses of coinshuffle like two days ago?? And their knock on Darkcoin is laughable since the chance of getting de-anonymized after 16 rounds is vanishingly small. Just my opinion, but that "article" seems like a hit job on Darkcoin in response to Evan's security advisory more than anything else...  |
|
|
|
Technical question again ( wish I had some Beta brains like some of you have ), but like Crypto too much.
Is my understanding correct that in case BTC and LTC also want too add stuff that DRK already has ( like Darksend, coin mixing and InstantX ) they are forced also to be forked or "sporked" and make a lot of updates ?
Not lots of updates because Evan is doing all the hard work and we're his guniea pigs, anyone is free to adapt Darkcoin's opensource technology into their coins at any time. But absolutely yes, they'd need to fork to adapt Darkcoin's features. Spreadcoin dev seems to think that he'll have masternodes up and running in a few weeks with InstanTX a few weeks after for example. Whether this is possible remains to be seen but people are benefiting from our dev team's work and also learning from our mistakes. That is only because Spread is a Darkcoin clone fork. LTC/BTC would have to do a lot more work to copy DRK. |
|
|
|
I think the idea itself is brilliant (hey, I LOVE self-regulating systems), but it's not a good idea for Darkcoin. Right now, an institution (Government, some billionaire, some agency) can buy whatever they want number of Masternodes and there are still "free" Masternodes owned by you and me to secure the anonymity. If driven by market-force, they could buy-out EVERYONE else and get 100% control. Great point. Just to add some numbers to it... As an example, assume you have a pool of 1000 masternodes. DRK Method: Evil rich entity would have to buy 4000 nodes (nearly impossible) to control 80% of the network. Spread Method: Evil rich entity would have to buy 800 nodes and maintain a larger balance than 800 current owners to kick them out. Rich entity would have no problem keeping a high balance compared to Joe Normal. Spread method is great for pumping the price, but it is plain which of these methods is a better security model. |
|
|
|
Minimal Darksend 1.5 DRK
Does this mean , in case DRK would ever reach BTC high levels , you will have to spend 1.5 DRK as minimum ? , and then you get back change splitted ?
Could anyone help me out here ?
Thanks !
Evan has said that smaller denominations, which would allow for a lower minimum Darksend amount, will be created as nessesary once the price rises. |
|
|
|
|
Show Posts
