Report sent.

I am in the market for a new masternode right now, not sure if eating those coins at  .0085 or wait for it to come down a bit? Any opinions?

This guy was feeling miserable a few days after, and now must feel ......  

oblox - I realise you're trying to make a practical point which is undeniable.

However, before you can spend "any" money at all, it has to have some value. Worst case - you just change it for another currency and pay a couple of points for the exchange (if you happen to be rich enough to feel like venturing outside of your borders).

The fact is, as AlexGR correctly points out, the Euro has bulldozed an entire generation of european youth and sacrificed them at the 'alter' of common currency. That is not a price worth paying.

Greece is a low latitude Mediterranean country with a coastline. What that means is that they would normally have no problem in feeding and housing themselves. The fact that they can't even do that more than 2000 years on from the time of the Greek and Roman empires is testament to the scam that is known as the "European Union".

That scam is no more than a scaled up market for highly leveraged debt into which the Mediterranean countries - otherwise abundantly self sufficient - have been trapped. Characterising it as "a handy way to avoid currency exchange" in no way does justice to it.

The only way these countries will be able to prize themselves free from the trap is by ordinary people changing their patterns of behaviour to the extent that it becomes impossible to centralise power into a minority executive. I have always seen crypto as a huge tool in that process because it is a "creeping" growth, just as the world wide web was. It won't be a big sledgehammer event - people will just wake up one day to find themselves using crypto "quite alot" and won't even remember how they got there.

Put it this way, can you remember when you made your first airline booking on the world wide web ? I cant. But I can sure remember a time when the world wide web didn't exist.

Some nice buys up to .0074 on Cryptsy. Quick glance of around ~6500.

Sure I can, I just need some confirmation here that my logic is correct

Well, just some math.

576 blocks / day
4,65 DRK / block
-------------------
~2680 DRK / day

Currently 37.5% goes to miners, which is expected to increase, which will be 57.5% by this time next year.
If i understood correctly, ASICS are not expected to be out before that. This means only 42.5% will be distributed between miners.
--------------
~1138 DRK / day

In a year from now DRK supply will be reduced by 7%
---------------------------------------
~1058 DRK / day

To make it easier, let's use 1000 DRK / day for further calculations (feel free to adjust the end results by 5% due to this)


The three ASIC models in the article range from 900 to 7500 USD. Let's use the average of 2500 USD (assuming more units are sold from the cheaper version, which may not be true at all).

" For their business model to work, they reportedly have to sell 4,000 units before they produce one. "
-------------------------

Let's assume that 4000 units will be sold for 2500$ each. That's 10 million USD, basically the current market cap of DRK. It's easy to see that with today's prices it would be impossible to make a positive ROI. Why?

If 4000 units will be mining, the 1000 DRK / day generated will be distributed evenly, resulting in 0.25 DRK / day for each ASIC. With today's prices, that's an astonishing 0.25 * 1.6 USD = 0.4 USD

ROI in this case would be 6250 days, assuming no more people buying ASICs (impossible), DRK supply not decreasing (impossible due to the 7% yearly decrease), and the mining share of all coins generated not decreasing (unlikely based on the current plan).

Nonetheless, let's calculate with this 0.25 DRK / day.


Should DRK to BTC ratio raise to 0.07 (3 times ATH), the result is 4 USD / day.
If at the same time BTC to USD raises tenfold as well to 2500, the yield is 40 USD / day. Which makes it roughly two months to get the initial investment back. Minus electricity.

The same 2500 USD would net ~1500 DRK currently, and within a year it would generate an additional ~180 (0.5 * 365). With the prices above one DRK would be priced at 160 USD. 1680 * 160 USD = 268800 USD

Conclusion:
-------------
There is no financial incentive currently for miners to switch for ASIC, assuming the minimum 4000 asic units needed, and the 2500$ unit price. Should any of these change by more than 1 orders on magnitude, it might be viable with today's prices. But even then, buying the coins directly and setting up a masternode would be a WAY better investment.

I could go on for pages with the analysis, but I hope this was enough.

The only reason why ASICs would be worth buying is if someone wants to attack the network. But seeing that creating such an ASIC costs millions, this is hardly an issue currently. So people, there is basically no reason to be afraid of ASICs for now.

If anyone finds a flaw in my logic above, please elaborate.

McDonald's will accept BTC? (or DRK?)
http://bitcoinist.net/mcdonalds-might-start-accepting-bitcoin-soon/

Wonderful! That's great!

It may shock you guys to hear this, but I am involved in this PR initiative as well! I'm glad that I can finally stop keeping a secret and let the world know. I have tweeted from the official Twitter and the unofficial "Darkcoin Chameleon" accounts, so the world knows now! We're doing this.

In my capacity as recruiter, I will be asking people if they may want to join this initiative as well.

A few things to keep in mind: This is a serious initiative, we will be training people so we will require a committment from you to proceed, and it will be necessary (if you attend some events) for your real identity to be known and you have to decide if you are comfortable with that.

I'm looking forward to getting this underway with a good group of people!

Please contact me as well if you'd like here,
or on DarkcoinTalk (TaoOfSatoshi)
or on Twitter (@TaoOfSatoshi)
or on my email taoofsatoshi@gmail.com

Let's take Darkcoin PR to the next level!

Tao

+1 Awesome job all.

I was supposed to be part of this initiative but 200 unread inbox messages signifies how much I have failed in that role.  Apologies and FML.

Your efforts are seriously appreciated Tao, I often feel guilty seeing you tear it up. As soon as my situation eases, I will be settting aside some time to at least hold a candle to you!

Mate, you really should have piped up earlier then. I hope this means your no longer lurking.

We are launching today the Darkcoin Ambassadors Group (DAG). It will be a group of world-wide volunteers dedicated to educating the general public about the benefits of Darkcoin. It will make concrete the already excellent relationship between the developers and the Darkcoin community. The DAG will act as the bridge from the cryptosphere to the public sphere.

The ambassadors will get support and training from the Darkcoin team so they can spread the word about Darkcoin in places where Darkcoin is not present yet, with especial focus on real life interactions. They will explain to those not typically drawn to cryptocoins, or to those who only know about other coins, that there is a new alternative, a new approach, and one that offers true privacy.

How will this be accomplished? First, we will establish where our volunteers are physically located. On this basis, we will build both smaller and larger teams, contingent upon the area. This will also be an excellent opportunity for Darkcoin enthusiasts to come to know one another in the real world. After that, those teams will identify opportunities in their area and prepare materials to pursue them, all in constant contact with the Darkcoin team.

Darkcoin needs to go from the virtual to the physical world to increase its adoption, and that means each ambassador spreading the name of Darkcoin as far as they can in their sourrondings.

If you are interested in taking part, please send me (fernando@darkcoin.io) or Daniel/Minotaur (daniel@darkcoin.io) an email or PM. We are going to expect a certain level of commitment in this first phase. We’ll work together in identifying good event opportunities for each participant, prepare materials and rehearse if necessary. Some disclosure about identity, location and skills will also be required so we can match you with the most appropriate opportunities. Of course, we’ll keep your data private!

https://darkcointalk.org/threads/darkcoin-ambassador-group.3785/

Tao where are you we need this on twitter

Well, due to BCT being down, you guys got a new member on the Darkcoin forum. 

EVERYONE UPDATE TO 11.0.11

https://www.darkcoin.io/downloads/