Nurse! Nurse!
I'll bet you 1000 Darkcoin that you can't find an exploit that pays you like the one yesterday. On the following conditions: 1.) You must make money from exploiting the system to an address that you control. 2.) You must make more than 1000 Darkcoin from said exploit. 3.) We both put up 1000 DRK into escrow. 4.) You have two week to prove you made 1000 DRK from exploiting the system. Otherwise I win. Well, there's the first bounty...  I don't think ebolajax and his 'associate' in the loopy ward will be claiming it though. |
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Doesn't matter... quit thinking in whole coin terms. If there is only 1M coins floated with the other outstanding tied up, the value per coin should be much higher and as such, require more BTC to buy each coin.
I don't know if anybody's thought about this, but the "market cap" of Darkcoin should maybe strictly speaking not include the coins that are out of circulation tied up in masternodes because they are no longer part of the coin supply while they are performing a network technical function. We can't really have it both ways since the valuation of the currency at any given moment applies to the network infrastructure WITH its attendant masternode service. This fact is even acknowledged in Evan's original strategy - taking coins out of the supply is supposed to boost the price which has a stabilising effect on the masternode population. But the "taking coins out of the supply" action should decrease the market cap even if it increases the price because market cap is a function of coin supply. I'm just flagging this up at the moment because right now coinmarketcap.com lets us have our cake and eat it by letting us count the full 4.7 million as being in circulation, even though 1 million of them are not. That would put us down at 8.6M instead of 10.6M. Looked at another way, if those 1 million coins were to be counted as part of the supply then the network should be valued (as far as marketcap is concerned) as masternode-less (i.e. no anonymity service). How are coins in Masternodes any more 'out of circulation' than the 400000 DRK in No.1's wallet? Or the coins in anyone's wallet? Because that's all a Masternode is, just 1000DRK in a wallet and a static IP. |
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Hey guys,
i have a new update from Kraken support :
William (Kraken Support)
Oct 08 07:48
Hi Yannick,
I forwarded your crowdfunding idea to upper management, and they have let me know that while your offer is highly appreciated, we are not currently interested in adding more digital currencies. We may want to add darkcoin in the future, but the trading volume would need to be considerably higher than it is today. If you notice that the trade volume increases by 5 or 10 times what it is today, please get back to me and I will once again suggest your crowdfunding idea to my senior officers. I will leave this support ticket open for three months, just to make sure you have a direct line of communication to me. Unfortunately, there's nothing more I can do at this time. Thanks a lot for getting in touch. We really appreciate it. Have a nice week.
Best,
William
Kraken Support
Guess that's some good news...
No it's not really good news. Darkcoin will not have 5-10 times more volume as there are too many coins held by supporters and kept in masternodes. And there is a plan to double the masternode amount  Doesn't matter... quit thinking in whole coin terms. If there is only 1M coins floated with the other outstanding tied up, the value per coin should be much higher and as such, require more BTC to buy each coin. I wish I could beat every idiot gibbering about liquidity and volume to death with a great big decimal fucking point. But that fucking decimal point depends on liquidity in the first place. And liquidity means market-cap! right? No it doesn't, at all  Liquidity is how many coins are available on the market, it has nothing to do with market cap. When people bitch about liquidity, what they mean is, "I can't buy as many coins as I want on the cheap, waa waa waa." I disagree.... liquidity is a measure of how much btc (or usd) you can put in and get out without change the price too much.. for darkcoin, it is the amount traded as a measure of bitcoins. a decimal point moved does NOT affect this. Liquidity != stability, and you've still not grasped the decimal point thing. You can trade billions of duffs without changing the spot price much. |
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Hey guys,
i have a new update from Kraken support :
William (Kraken Support)
Oct 08 07:48
Hi Yannick,
I forwarded your crowdfunding idea to upper management, and they have let me know that while your offer is highly appreciated, we are not currently interested in adding more digital currencies. We may want to add darkcoin in the future, but the trading volume would need to be considerably higher than it is today. If you notice that the trade volume increases by 5 or 10 times what it is today, please get back to me and I will once again suggest your crowdfunding idea to my senior officers. I will leave this support ticket open for three months, just to make sure you have a direct line of communication to me. Unfortunately, there's nothing more I can do at this time. Thanks a lot for getting in touch. We really appreciate it. Have a nice week.
Best,
William
Kraken Support
Guess that's some good news...
No it's not really good news. Darkcoin will not have 5-10 times more volume as there are too many coins held by supporters and kept in masternodes. And there is a plan to double the masternode amount Doesn't matter... quit thinking in whole coin terms. If there is only 1M coins floated with the other outstanding tied up, the value per coin should be much higher and as such, require more BTC to buy each coin. I wish I could beat every idiot gibbering about liquidity and volume to death with a great big decimal fucking point. But that fucking decimal point depends on liquidity in the first place. And liquidity means market-cap! right? No it doesn't, at all Liquidity is how many coins are available on the market, it has nothing to do with total market cap. When people bitch about liquidity, what they mean is, "I can't buy as many coins as I want on the cheap, waa waa waa." |
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Hey guys,
i have a new update from Kraken support :
William (Kraken Support)
Oct 08 07:48
Hi Yannick,
I forwarded your crowdfunding idea to upper management, and they have let me know that while your offer is highly appreciated, we are not currently interested in adding more digital currencies. We may want to add darkcoin in the future, but the trading volume would need to be considerably higher than it is today. If you notice that the trade volume increases by 5 or 10 times what it is today, please get back to me and I will once again suggest your crowdfunding idea to my senior officers. I will leave this support ticket open for three months, just to make sure you have a direct line of communication to me. Unfortunately, there's nothing more I can do at this time. Thanks a lot for getting in touch. We really appreciate it. Have a nice week.
Best,
William
Kraken Support
Guess that's some good news...
No it's not really good news. Darkcoin will not have 5-10 times more volume as there are too many coins held by supporters and kept in masternodes. And there is a plan to double the masternode amount Doesn't matter... quit thinking in whole coin terms. If there is only 1M coins floated with the other outstanding tied up, the value per coin should be much higher and as such, require more BTC to buy each coin. I wish I could beat every idiot gibbering about liquidity and volume to death with a great big decimal fucking point. |
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Security updates should perhaps come with a protocol bump to kick all older versions off - might motivate people to update quicker!
If you're running a pool or MN it's your responsibility to keep the software up to date for the security of all users. Be on the ball or lose out.
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Would not mind even a simple
5 or 6 step HOW TO guide on how to do the update attached to the official communication - not all of us are running the nodes since May!
Regular user: download new client, and use it. Pool and MN ops: should know how to update their pools and MNs! For MN ops that don't have a clue, see one of the guides darkcointalk, but the gist is simple - replace the darkcoind running on your MN with the new one, restart the MN from the local wallet. It's not difficult. If your MN isn't down long enough, you actually can do without restarting the MN from the local wallet. Yeah I've heard other people say that but it never worked for me, and I can update a MN in well under 30 seconds. Always had to restart the MN locally. Been a lot of versions since I last tried that way though. Makes no great difference to me now since I have it all automated, I restart from local just to be sure. |
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Would not mind even a simple
5 or 6 step HOW TO guide on how to do the update attached to the official communication - not all of us are running the nodes since May!
Regular user: download new client, and use it. Pool and MN ops: should know how to update their pools and MNs! For MN ops that don't have a clue, see one of the guides darkcointalk, but the gist is simple - replace the darkcoind running on your MN with the new one, restart the MN from the local wallet. It's not difficult. |
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Damn so much happens when I'm asleep in Australia... Yes I totally agree our latest update should be called XwzmEE1cJ6HG84CgJvAt7ADmJ to pay tribute to our newest family member Or maybe we should ask Mr. XwzmEE1cJ6HG84CgJvAt7ADmJ8W9Wh65Tq what he thinks our update should be called? Unless he's giving it back, it should be called 'Hanging The Black Hats'  |
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From Exploit Attack Detection till to the fix in less than 3 hours. That is really good. I bet you just made the Attacker upset. He/she/it sure has hoped to gather more coins.  Well, I'm still getting more coins. All network should be updated, it isn't enough to just commit a fix. Money is not my motivation anyway. Probably will donate this to some open source project. Feel free to help out if you're so inclined, and next time just email me when you find something evan@darkcoin.ioI thought this was hilarious. I invested fiat in DRK as well, after I'd mined my first Masternode-and-a-half, mainly because Evan was clearly not only skilled, but he enjoyed his work. It's in the tone of so many of his posts - this guy is having fun. |
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I am not angry at mintpal anymore. We are actually lucky that all the Darkcoin withdrawals are stuck in there and that the volume is dropped to 12btc for the last 24 hour. With the news of an exploit in this magnitude we would have seen even worst reaction from the market if mintpal was operating with top drk volume. We just got luck because of this perfect timing.
I feel the opposite. Adderall gobblers would have dumped more and my BTC would have gone further.  |
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I think an auction would be great. Since coins101 ignored my excellent famous explorers idea. Raise a bit of DRK for the dev fund / The Foundation. |
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Maybe we should buy another PR package but this time for Chinese audiences (businesses, crypto community, and Media outlets etc)
We are working on a plan for that over the longer-term, outside of the Foundation........... Forget the cockroaches. you fuxxing drunk again or what ? I don't drink |
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Maybe we should buy another PR package but this time for Chinese audiences (businesses, crypto community, and Media outlets etc)
We are working on a plan for that over the longer-term, outside of the Foundation........... Forget the cockroaches. |
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ghash.io 826 2014-10-07 12:13:52 148607 7.0050 ORPHAN 13 minutes 1.55 Gh/s 0/5000008 0.00% 71226 - 825 2014-10-07 12:00:44 148602 7.0070 ORPHAN 6 hours 1.62 Gh/s 0/5000008 0.00% 1864450 - 824 2014-10-07 06:31:02 148474 9.0000 ORPHAN an hour 1.73 Gh/s 0/5000014 0.00% 280395 - 823 2014-10-07 05:44:39 148455 5.0000 ORPHAN 2 hours 1.71 Gh/s 0/5000014 0.00% 706378 - 822 2014-10-07 03:46:06 148413 7.0000 ORPHAN 44 minutes 1.77 Gh/s 0/5000014 0.00% 275122 - 821 2014-10-07 03:01:43 148396 7.0030 ORPHAN 2 hours 1.80 Gh/s 0/5000014 0.00% 891145 - 820 2014-10-07 00:39:53 148342 8.0050 ORPHAN 42 minutes 1.80 Gh/s 0/5000011 0.00% 264691 - 819 2014-10-06 23:57:44 148319 7.0010 ORPHAN 3 hours 1.77 Gh/s 0/5000013 0.00% 1026527 - 818 2014-10-06 21:11:14 148263 6.0030 ORPHAN 4 hours 1.83 Gh/s 0/5000015 0.00% 1544763 - 817 2014-10-06 17:10:02 148169 6.0000 ORPHAN 2 hours 1.90 Gh/s 0/5000023 0.00% 854073 - 816 2014-10-06 15:01:27 148100 6.0000 ORPHAN 4 hours 1.98 Gh/s 0/5000023 0.00% 1866508 - Incompetence? Denial? ~2GH is what, 500 280X cards @ 4MH/150W each, so 75000 Watts an hour of wasted electricity? DON'T TELL THEM. |
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Which demonstrates what I've been saying - ALL of the marketing (and any fundraising) efforts for Darkcoin should be pointed at the big wide, not fucking crytognats. Forget the crytoscene, it's utterly worthless. Hunt the big game, not the cockroaches. Think about it - $30 million for a fucking bitcoin wallet. What could Evan and team accomplish with $30 million? How many top-notch devs would that hire? edit: With that kind of money we could have Darkcoin in the linux kernel. OK, not the kernel, but shipped as part of the standard Ubuntu and derivatives image. What kind of adoption would that bring us? Duffield: Hi, is that Mark? Shuttleworth: Yep! Duffield: My name is Evan, and I want to give you $250000 to put open source financial privacy right on the Ubuntu desktop! Shuttleworth: I don't know, that would take a lot of work... Duffield: Nope, we've already done all that! ... Some of the smaller distros would probably stick the qt wallet on the default desktop for a tin of beans and some kind words. Do we have a desktop icon? I hope The Foundation are paying attention. |
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cross post, b/c obviously off topic for that thread.
Miners who can use a pool which doesn't take some of their block reward, will have an economic advantage, thus masternodes will become unfunded and be centralized (offered for free) by whomever can gain from stealing the anonymity (or what ever value they can extract from centralizing masternodes).
With the recent spork that was done with >90% of the network in acceptance, there are no more pools in darkcoin who can offer a block reward without paying the mns. therefore, miners who choose to mine at these pools will be at a distinct economic disadvantage to themselves. The network now rejects these blocks. If the mn's are economically capable of offering mining for no fee, or a fee less than a non-mn pool (because of the 20% they're already allocated), then that would give them an economic edge over non mn pools. this does assume that the operational costs of the mn and the operational costs of running the pool combined are less than what it receives. evan's latest post: https://bitcointalk.org/index.php?topic=421615.msg9103691#msg9103691I wonder what the technical limitations are on lowering the amount required from 1000 units, to say, one or two units of the currency? Add: I'd like to make the point that playing with this 20% payment will likely have immediate and lasting effects on the hashrate of the network, because of the chosen emission style where the hashrate defines the block reward. Please note that with this enforcement, the hashrate dropped to levels where the nodes and miners are receiving more currency than they did before because the block reward has moved from the 5drk minimum and now sits at ~7/8drk. I observe that a 20% cut in miner pay seems to have resulted in a 40%50% increase in emission. With no real change in price, this serves to reward miners a net of 20% increase in pay/value reward compared to pre-spork. As many miners may sell at market, this would require a 20% increase in purchasing power to keep this price. This can be countered with a price increase of 20% if someone wants to have the potential ability to collect 'anonymous' information through the masternodes in the future (add: or just really likes DRK ofc  ). The price increase should logically be met with a 20% increase in hashrate from where it's at now (which will yield the 5 DRK/block emission), where it will sit until either buying or selling power takes precedence over the other; however, the buying pressure would still need to be increased 20% value-wise in order to maintain no change. The only real benefit to raising the price from a whales perspective in this AFAICS is to keep scarcity up, so that the 50% gain in emission doesn't dilute their current holdings. Personally, I'm expectinghoping for a 20% rise in the nearish future in order to tackle this very situation. Alternatively, the price can decrease 20%. While this seems more likely, it could easily cascade into a decreasing hashrate which will yield an even higher emission (what difficulty does it increase from 7/8 per block to whatever's higher than that?) and then a possible 'race to the bottom'. Considering that there is the financial incentive of either the currency itself, or even the incentive of potentially having the ability to collect anonymous data, I'd think that the increased cost route might be justified. Not my money to spend though, nor do I know who's making the spending decisions so it's pretty up in the air. Alternatively again, Wolf0 has just published a nice increase in hashing power. He says it's '34.34%' overall. The increased hashrate would increase the network difficulty to where it's again sitting at 5 drk/block. economic implications of this are left to anyone that would like to consider the value of purchasing his refinement of the mining algorithm. I'm sure it's less than paying all that extra money on the market You make some cogent points, but I'm not sure any of it is really relevant in a scenario where we achieve widespread adoption. And without adoption we're ultimately dead anyway. I take it this came from a Monero thread? I've skimmed some of their emission debate, and I think they are focusing on entirely the wrong things. The wider world doesn't give a damn about any of that, they (hopefully) want a fast, simple to use, secure and anonymous decentralised currency. When you 'buy' fiat by getting out of bed and going to work, do you worry about the technical nature of the printing press it came from, or do you just care about the actual utility? Utility is what gives most things value, besides art/fashion/Apple etc. If it isn't useful, and useable, it's just digital tulips. |
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