Welcome our new core developer, Vertoe!
Vertoe (AKA “vertoe”) is an acadamic grade software engineer fallen in
love with C/C++. She is working as a freelance programmer for a well
known NGO in the area of netactivism and recently started backporting
upstream features to enable a modern Darkcoin Core reference implementation.https://www.darkcoin.io/about/team-contact/ Great! This is getting better and better daily. |
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I can't watch a single episode of Bitcoin Rush because the guy is annoying as fuck, else I would. My ears bleed just thinking about his voice and enthusiasm.
 Ditto every word. "Enthusiasm" cracked me up for it reminded me of a Dutch guy I met once in Brazil. Just across the bar in which we were enjoying life, was some celebration, some Christmas thingy. Everyone was enthusiastic, as happy as they come, dancing and singing and smiling and laughing and he said, in his legendary deadpan manner: "I can't stand them, how happy they are for fucking 24/7. I"d like to have a bazooka and..."  |
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Damn good efforts. Your account still drives me crazy with #Room and #other #crazy #hashtags but your energy and enthusiasm is contagious so you are, dear Sire, indeed the great Darkcoin advocate. Thank you for your hard work. This tweet https://twitter.com/TaoOfSatoshi/status/542725529661882368 reminded me of a little trick you should use VERY SPARINGLY!! Direct tweet to someone is seen by all their followers. In this case #BradPitt is better than just Brad Pitt (it ranks higher in Twitter search) because Brad Pitt does not have Twitter account but, say, Adam Lambert does. So he or whomever, I have no clue about that world, has a new concert / CD or whatever and you tweet to them, Hey @adamlambert did you think of selling "x" or "y" for #Darkcoin? With over 2M followers... Granted, Occupy Wall Street would be better a choice than that guy, so @OccupyWallSt or / and @OccupyWallStNYC and all other places where they are active would be great "targets" when something is happening. (or in any day) All these guys are being monitored by the whole spying complex so it would be natural for them to use an anonymous coin / e-Cash to support their efforts. Same in China or some other even more oppressed country than the United States. There are people that need help but other people are afraid to provide them with it. (think Wikileaks - Bitcoin basically saved them but now when it is apparent Bitcoin does not have real anonymity, on the contrary, Darkcoin would be a much better choice, and the people DO FEAR helping them for they do not want to get on all sorts of lists) So, with your 1,000 followers milestone, you could get even more creative and look for partners. DarkTor? DarkWiki? Setting up this or that, @expert in field (think Jacob Appelbaum) could you help. And your small tweets would be giant leaps toward Darkcoin's recognition |
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My timing is impeccable. I admit to a gambling problem and post a photo of some giant balls just as I am announced as part of the official team and my real name is published Perfect timing indeed Should start offering timely stock tips. Easy. Buy DRK. Lots and lots of DRK. Don't say this, don't say this - I am inclined to listen to you. I bought lots and lots of Darkcoins already but this is my only investment with a substantial loss so far. And the ONLY one I really love... (I keep hearing whispering in my ears: "Never fall in love with your investment, never..." and than go and trick myself into believing this is much, much more than just an investment. And I still believe it. So I will indeed listen to you... damn... |
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My timing is impeccable. I admit to a gambling problem and post a photo of some giant balls just as I am announced as part of the official team and my real name is published Perfect timing indeed  Should start offering timely stock tips. |
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And I can guarantee you that every single one of the '2.0 fancy finacial instruments' type coins will fail horribly, just as what they are based on is failing horribly. The last thing a cryptocurrency needs is to try to emulate the insane voodoo that drives the traditional financial sector and is driving all but the 1% ever deeper into poverty. Agree, Strix's post was a worthy one (but you just quoted it so no need for me to do the same...) - and what you wrote reminded me of yet another source of income The Financial Crime Cartel has created, driving the poorest of the poor into despair, while getting richer themselves -> overdraft fucking fees. This is a $30 BILLION a year industry** in the United States alone, charging you "fees". I doubt other countries have such a criminal cartel blatantly stealing the money from the poor, but I am not familiar with these particular practices elsewhere. Fuck them, Darkcoin does not have any overdraft fees ** source: http://time.com/money/3070815/overdraft-fees-banks-save-money/ |
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I've read every post and response on this. I can understand your concern wozzek23 but I do think you're failing to comprehend some of the key aspects of Darkcoin's economic architecture. You're speaking and hypothesising from the basis of a notion that coins are "rapidly disappearing" because of their use in MN's. As has been pointed out, they're not "locked up", they're simply reserved for the MN they're associated with. They can be removed from that situation and in back in circulation within seconds, so in essence they've never been taken out of circulation. There's a balance between people selling their DRK for gain and people holding their DRK for potential greater gain and/or MN income. The various pressures/forces involved keep things in relative order. When adoptions starts approaching something more akin to prime time, we'll see the MN numbers rise and fall as people make their own interpretations of risk/reward. I think the economic architecture is pretty sound.
I think you're also getting strung up on whole amounts of DRK versus DRK divided down into it's 8 decimal places. As per Tao's tweet just now, Darkcoin will eventually consist of a total of 21,000,000,000,000,000 units. That's really how it needs to be looked at. Liquidity will be fine because any single DRK is in fact 100,000,000 duffs and there are coins being added every day through the mining process.
It's an important discussion though and I think it was good you've raised it. Our, human ability to find ingenious solutions - and I don't mean this to be disparaging, on the contrary - is a fantastic feature. Tao's 21,000,000,000,000,000 units and your semantic distinction in between "locked up" and "reserved" are examples of it. So, my hypothetical situation that was based on a scenario in which coins are "reserved" i.e. not readily, freely available to purchase on the market unless someone liquidates her or his MN, might not be a feasible scenario at all. Economic forces should take care of it - only that we never before had a situation in which one asset class, the number of its units, is precisely defined by mathematics. (one can calculate to the duff, how many coins are going to be in circulation 274 days or 3 years from today) Such uncharted territory must have some dangers hidden in it, not only on the arcane (for a n00b like me) side of Sybil attacks and what not, but on the economic side of it. I also do worry about more normal circumstances, in which majority of the coins are not freely available on the market and as such, might create a liquidity problem. This is an age old issue in all the asset markets and not something one should dismiss only because a new market / asset class as Darkcoin / has not encountered any similar problems yet. However, as a true Darkcoin believer I am indeed inclined to take oblox's view, that my argument is "stupid," as correct, but I will monitor all the statistics that I monitor already anyway, just in case |
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It's a digital coin being able to be split into decimals. Each "whole" coin has 10,000,000 units and there will certainly be more than just 1 coin worth in circulation. That's plenty of liquidity. If you only look at it from the viewpoint of whole coins, then sure, there is a problem, but it's a non issue in something that could be split out even more decimals. It IS economics: supply and demand. As reward for masternodes increase, demand for masternodes increase. As the price per coin increases, some existing holders will sell some of their stash until an equilibrium is formed.
correction : 100,000,000 duffs = 1 DRK
Good catch. Further reiterates that there would be plenty of liquidity. This argument is probably one of the stupidest ones I have seen on here thus far.
Hoping I am not as stupid as "my argument" seems to be, I have to go back to this discussion a bit for I like to ponder the issue I do not fully get - I lack your ease in coming to conclusions about someone or someone's argument's stupidity; it takes me some time before I call something "stupid" - unless I don't have a preconceived notion about the topic. I try really hard to find my own blind spot. So let me try to help you see your own. (blind spot, that is) Again, I speak hypothetically trying to shade some light on the issue (or a "non-issue") as I see it. You seem to think the issue I raised (the number of all coins in MNs vs. total circulation went from 24% to 27% in a month and one day the ratio could be 99% or 100%, if the trend continues) is resolved by the fact 1 coin has 100,000,000 duffs and therefore that the FRACTION of the currency union "reiterates that there would be plenty of liquidity". This does not make much sense. The very idea of liquidity is " degree to which an asset or security can be bought or sold in the market without affecting the asset's price," and should we end up having only "duffs" and no "coins" left (they are all in Masternodes) the "duffs" would now have to follow market economics as well. "It IS economics: supply and demand," you wrote or quoted, right? So now we have the "duffs" and no "coins" so the duff is being used, sold and bought and as such its price could go up or down dramatically precisely because there is no liquidity (Darkcoins) left and with it, the asset (Darkcoin) value. You're sweeping the problem (granted, it could be a "non problem, I don' know, that why I think about it) under the duffs. This may be your blind spot, I have no clue, still looking for my own. |
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what are u talking about? this scenario seems completely unrealistic..
if there would be that much master nodes, any boost in demand would rise the price very quick which leads to people selling their nodes to cover the volatility.
if there would be just 1 drk left on the market due to huge demand, the price would already be at a million dollars..
nobody would run master nodes at that prices, too many of them, too less reward, too much volatility in crypto
My scenarios are hypothetical and stretched. I was trying to make a point using hyperbole. But do not underestimate the power of mathematics. Perhaps one month is not enough for my worries but ponder this yet again: "As of today, 27.57% of ALL Darkcoins in circulation are already locked in Masternodes. On November 12th, less than a month ago, that percentage was 24.57% so the # of locked in coins outpaces the overall coins supply quite rapidly. [3% or for 40% on an annual basis] With the price as it is and the pace of MN growth we could see 50% off ALL coins being locked in Masternodes in less than six, perhaps four months." What that means is that the Darkcoins are VANISHING from the circulation, on a daily basis. (from 24.57% locked in MN to 27.57% of all coins locked in MN in less than a month). On November 12th, these 24.57%, the Darkcoin price was 0.00672433 BTC. So 3% of all the coins were gone (from circulation) but the price went down. It is not such a big stretch to think this trend may continue until we come to the totally unrealistic scenarios I describe...your assumption is entirely wrong, this trend can't progress until we are in your scenario.. its impossible to extrapolate that small information from the last month. thats not how markets behave Come on. Darkcoin is not even one year old. 1 month sample is about 10% of its lifespan. 3% trend within a month could be an abbreviation but it is NOT totally insignificant sample. Funnily enough, as we were talking here, this is what has happened: -- 230 new coins created (4,929,367 total); -- 18 new Masternodes established (1377 total); The ratio I talk about went from 27.5707492% to 27.93462122% (0.36387202%) so in few hours we'd be at 28% of all coins in Masternodes. I may be entirely wrong as much as mu assumption, but it is fun to think about stuff I do not fully understand. |
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Not even one single coin is "locked up" in masternodes. I can spend any or all of the coins in my masternodes just as simply as you can spend the coins in your own wallet. I load up the wallet file (it's a cold wallet, as is prudent) and I spend the money. Easy peasy.
Now if I spend those DRKs, my MN will go offline. But it takes exactly 30 seconds to spend the money that's "tied up" in my masternodes.
Sure, you're correct, but if I'd continue with my hyperbolas I could say that all of us could sell our MN coins and kill the network. Another "problem". But I get your point. You are trying to solve a problem that doesn't exist. I hope you're right. It feels you might be. What you and ddink7 say makes a lot of sense. I am not 100% at ease yet and will come back with the same "problem" once the "locked in" coins in MNs cross 50% of the overall supply. As far as today, I am very happy with you guys - I love listening to the people smarter than myself. Thank you all, truly. |
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what are u talking about? this scenario seems completely unrealistic..
if there would be that much master nodes, any boost in demand would rise the price very quick which leads to people selling their nodes to cover the volatility.
if there would be just 1 drk left on the market due to huge demand, the price would already be at a million dollars..
nobody would run master nodes at that prices, too many of them, too less reward, too much volatility in crypto
My scenarios are hypothetical and stretched. I was trying to make a point using hyperbole. But do not underestimate the power of mathematics. Perhaps one month is not enough for my worries but ponder this yet again: "As of today, 27.57% of ALL Darkcoins in circulation are already locked in Masternodes. On November 12th, less than a month ago, that percentage was 24.57% so the # of locked in coins outpaces the overall coins supply quite rapidly. [3% or for 40% on an annual basis] With the price as it is and the pace of MN growth we could see 50% off ALL coins being locked in Masternodes in less than six, perhaps four months." What that means is that the Darkcoins are VANISHING from the circulation, on a daily basis. (from 24.57% locked in MN to 27.57% of all coins locked in MN in less than a month). On November 12th, these 24.57%, the Darkcoin price was 0.00672433 BTC. So 3% of all the coins were gone (from circulation) but the price went down. It is not such a big stretch to think this trend may continue until we come to the totally unrealistic scenarios I describe... |
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As Sir Crouton would say, and Satoshi too (Sir Crouton is now part of crypto royalty), you just move the decimal point to suit circulation needs.
That's how 21 million bitcoins can underpin the global financial system. OR; how ~21m Darkcoins can underpin the global gov paper system
Thanks to all of you guys - qwizzie, strix, oblox (to Tao: all is fine) - for you contributions, I only do not want to quote everyone and hijack the board entirely OK, but if you "move the decimal point" you have increased the coins supply 10x. Remember the community's reaction when Evan suggested (in fact it was leaked) a coin merge a while ago? The "merger" would've been funded by Darkcoins. Evan even had a brilliant idea of decreasing the number of circulated coins so, at the end, the number of coins would stay the same. The community went berserk over what would've been, I think about 4% or so, for sure less than 10% (temporary) increase of the total number of coins. I am not aware of that decimal point move idea, but it would resemble the fiat world in which with a flicker of pen (or an enter on a keyboard) you "create" 10 times more coins thusly defying the very core idea of a "finite number" and you're in a totally new ballgame whose rules do not exist yet. (who would "authorize" such increase? Ben Bernake or that new creature at the FED or "our equivalent" of it?) By doing this you're taking the power out of mathematics - again, the very core of Bitcon / Darkcoin advantages - and give it back to the people, us, poor carbon based, sub-lunar, corruptible creatures... |
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Ponder this: as of today, 27.57% of ALL Darkcoins in circulation are already locked in Masternodes. On November 12th, less than a month ago, that percentage was 24.57% so the # of locked in coins outpaces the overall coins supply quite rapidly. [3% or for 40% on an annual basis] With the price as it is and the pace of MN growth we could see 50% off ALL coins being locked in Masternodes in less than six, perhaps four months. This simply CAN'T be good! I defy anyone to explain me how the currency out the circulation is going to be beneficial for our future users? It's a digital coin being able to be split into decimals. Each "whole" coin has 10,000,000 units and there will certainly be more than just 1 coin worth in circulation. That's plenty of liquidity. If you only look at it from the viewpoint of whole coins, then sure, there is a problem, but it's a non issue in something that could be split out even more decimals. It IS economics: supply and demand. As reward for masternodes increase, demand for masternodes increase. As the price per coin increases, some existing holders will sell some of their stash until an equilibrium is formed. [/quote] Yeah, I am aware of this argument - I think it was you telling me this the first time I raised the question. We may end up like that famous, one singular Richard Feynman electron (his one-electron universe postulate, meant as a joke) and have 1 Darkcoin in circulation that is than split into 10,000,000 unites that circulate and create the value. I can't be sure but I don't see it as a solution for the problem. It is not entirely unlikely like another hypothetical situation in which your bank does not have dollar bills so it gives you 400,000,000.00 pennies to buy a car. (and the dollar is also mostly just digits in the Financial Crime Cartel's networks) I can't see a fraction of an unit as the base for the unit's value. I simply can't... |
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snip......
This simply CAN'T be good! I defy anyone to explain to me how the currency out the circulation is going to be beneficial for our future users? Without master nodes you don't get anonymity or instant transactions. You might as well use dogecoin. next question....this time, make it harder so we need to break a sweat. No, no, kindly do not go ad hominem just as easy as that. As a member of Darkcoin Foundation, Darkcoin investor, MN owner and the author of the 1st draft " DARKCON: A Private E-Cash Manifesto" ( https://darkcointalk.org/threads/darkcoin-private-e-cash-manifesto.2460/#post-22058) I don't need to be dismissed with a dogecoin remark just like that. I get the Masternodes value but all my points still stay. I do believe the issue I raised is a potentially serious problem and would like someone to help me understand why it is not. (the problem) Freudian slip, that! What the fuck that means? That I am a con or you think I am implying the Darkcoin is con / Darkcon? (a memo for future readers: I made a typo, Darkcon vs. Darkcoin when quoting my post on Darkcoin talk and will now correct that typo) Can we discuss the CRUX of what I wrote or are we going to bullshit about typos and dogecoins? It's the same for me, I am on the same boat I love and support but I do not want to waste my time on pointless garbage. |
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snip......
This simply CAN'T be good! I defy anyone to explain to me how the currency out the circulation is going to be beneficial for our future users? Without master nodes you don't get anonymity or instant transactions. You might as well use dogecoin. next question....this time, make it harder so we need to break a sweat. No, no, kindly do not go ad hominem just as easy as that. As a member of Darkcoin Foundation, Darkcoin investor, MN owner and the author of the 1st draft "DARKCOIN: A Private E-Cash Manifesto" ( https://darkcointalk.org/threads/darkcoin-private-e-cash-manifesto.2460/#post-22058) I don't need to be dismissed with a dogecoin remark just like that. I get the Masternodes value but all my points still stay. I do believe the issue I raised is a potentially serious problem and would like someone to help me understand why it is not. (the problem) |
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Total Masternodes: 1358 = 1358 actives + 0 inactives (Last refresh: Tue Dec 09 2014 19:12:37)
Estimated daily payout for an active node (blocks with MN payments last 24h: 100%): 0.58 DRK/day (Last Refreshed: Tue Dec 09 2014 19:12:42)
OMG what is going on? Are the top 10 wallets moving funds to masternodes?
I follow various Darkcoin related statistics data for my fun and this is the ONLY one I do not like. (aside the price that I don't get why is still as low as $2.25 or something). I raised the question, of coins being locked in the Masternode, wondering (hypothetically) what would happen if ALL the coins are locked out? Many a member told me it is too early to worry about it, and that pure economics would not allow any problems with it but I wonder / worry about LIQUIDITY! Again, hypothetically, if only us - Darkcoin supporters - would buy the coins and at the end have ALL of them locked in MN, the value of one DRK could be a one million dollars for all I care, but who would buy the coin for a million? No one, I guarantee you. So, I might sell that one coin for a $1.00 (one dollar) in order to find a greedy buyer outside the community. And voila!, all the coins just lost 99.999999% of their value. I don't buy an argument that scarcity would increase the price for the price itself is NOT, could NOT and SHOULD not be the only consideration. I am currently at 28% loss with my Darkcoin investment. But I've also made 350% - in the last 30 days - on shorting Russian ruble on FOREX. (I'm sorry, our Russian friends, I hate to see how the Financial Crime Cartel is destroying your economy, but I could not let free money go away) So, if I cared ONLY about the price / profit, I'd convert all my coins into a more profitable investment (at least on the short run) and forget about freedom, privacy, anonymity, cheap remittance of currency that is currently at 12% for fiat garbage, according to the World Bank (a $540 Billion market) and all sort of incredible benefits e-Cash (Darkcoin) could provide to the people all over the world. But if this cash sits in my MN or in my wallet and does nothing else but provide me, and only me, with a coin or two "reward", and the Network with some security, damn... something indeed might be wrong. Ponder this: as of today, 27.57% of ALL Darkcoins in circulation are already locked in Masternodes. On November 12th, less than a month ago, that percentage was 24.57% so the # of locked in coins outpaces the overall coins supply quite rapidly. [3% or for 40% on an annual basis] With the price as it is and the pace of MN growth we could see 50% off ALL coins being locked in Masternodes in less than six, perhaps four months. This simply CAN'T be good! I defy anyone to explain me how the currency out the circulation is going to be beneficial for our future users? |
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Proud member of the Darkcoin Foundation. Me as well  Thank you Fernando & thanks to every single one involved with this fantastic project! |
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Untapped potential for both Bitcoin and Darkcon, just one faucet, the poorest: $540B (540 billion dollars) is the World Bank's estimate value of currency remittance; 192,000,000 people live away from home countries and send money home at 12% fees at average; 3 billion people in the world are under-banked i.e. no access to bank institutions. We are at the lunatic fringe of the movement that has a potential to change the world indeed. Makes me feel proud. source: https://www.youtube.com/watch?v=97ufCT6lQcY |
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2FA security... Somebody pinch me I'm dreaming...
 Is that Helen Hunt? Not sure H.H. ever acted in a zombie movie... I just grabbed this gif as fast as I could for all the others frightened me |
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2FA security... Somebody pinch me I'm dreaming...
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