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I guess we need a FAQ to cover questions plus all the bullshit of the FUDers. I will sit down and write an extensive FAQ (5-10-20 pages, as long as it takes) that will cover everything. Please send me in PM questions that you'd like to ask or questions that you think others will ask.
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You will release the source of the wallet, OK
- Will you release windows binaries?
- What algo?
- If it's not quark/scrypt/sha265/scrypt-jane .... will you release a standalone miner (including source code) at the same time you release the wallet?
The miner is already open source and it run x11. It was a bot, reusing post #18 from january (!) as its own: https://bitcointalk.org/index.php?topic=421615.msg4587423#msg4587423 |
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I just wanted a simple honest answer for a newbie like me but now I just think that you are just building a FAD kind of a mysterious atmosphere for you own good, so even if you say you are not going to influence me with your opinion you actual do.
You say it looks like a dump period. Another might view it as a pump period with corrections. Another might see it as a steady rise. Each one has their own view. And there is no simple honest answer on things concerning future price. It's all speculation. If there was a straightforward answer that "yes, hold, it will rise, definitely", then everyone and their grandmother would buy because of guaranteed profit. And if people knew it would fall, they'd sell and buy back lower. Few know what the price will do in the short-term, except the whales influencing the market in a big way. Long term, most of us are quite bullish in that we expect much higher prices based on the fundamentals. So it would be better for all of us to just come out and say in what values of DRK coin you bieleve most so I can go and research them on my own otherwise you don't answer my question please.
I suggest you do that. My own belief can be compressed in the following: There is a dedicated dev who intends to give Bitcoin a run for its money. He has already created a coin which is superior to Litecoin in many regards and has the intent to work in introducing additional functionality as we go along. Do I need to spell out where DRK is > LTC? It's anonymous, safer (11 hashes instead of 1), scarcer, has a better inflation formula, a better diff adjustment, is more balanced in CPU/GPU mining and more energy-friendly in GPU mining. It's better protected from multipools due to its diff and inflation adjustment, it brings innovation with the 90+10% mining output to masternodes who operate as proof of stake/service for the nodeholders and will also introduce IP obfuscation integrated into the coin's network. In other words, the future is DRK... |
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Blackcoin's new PR firm sure is doing its thing!
Can I suggest that if there was a PR firm involved in that broadcast in any way that I would suggest they need to be fired immediately. I wouldn't put my money in the hands of anyone who presents themselves publicly looking like that with the intent of informing or giveing anyone confidence in their product. They may all be fine people, or even technically good at what they do, but that is a horrible representation. If I walked into a bank and saw those people standing there I wouldn't hand them a single dollar and ever expect to get it back. Presentation is everything... suits, no sunglasses, well lit, not waving your hands in front of the camera like a little kid... I could go on and on. Please, please please do not ever think of doing something like that.... Just my .02.  Almost my thought, the concept is great but they looked like mmorp gamers on teamspeak. The best (worst) is the guy of cryptsy with the brown sheet behind him... wow Same thought occurred to me, like it was some type of gamers teleconference. |
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wow - I worked in the city of london for a while - that paper gets circulated a lot. London whales next?  |
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Lol, anyone who believes this is close to brain dead. Cost involved Into designing is too significant to even THINK about building an fpga/asic for an algo at such infancy.
Also, I find it funny how in recent months, starting any post with "I am china" seems to invoke confidence when trying to spread FUD about a subject.
I heard similar talk when the first pics from gridseeds emerged. They were supposed to be "fake" "vaporware" "scam".. you name it. Read carefully what he writes... that scrypt ASICs can do X11... this is impossible. FPGAs, sure... they can do any GPU coin. But they are not ASIC-level efficiency or speed. I wasn't trying to make a 1:1 comparison. Just saying that people called Scrypt asics a scam when they were reality. Now some people say _similar_ stuff about fpga for X11. He doesn't say that an ASIC has been built for X11... he says that the asics that have been built for scrypt can do X11, which is impossible, as asics are custom designed to perform specific functions. This misunderstanding probably originated from the website of an asic manufacturer where he accidentally placed darkcoin on his list of scrypt coins that can be mined. I had seen that link floating around - I think it was in the darkcoin thread. Of course darkcoin is not scrypt (it's x11) so the claim is bogus. |
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Lol, anyone who believes this is close to brain dead. Cost involved Into designing is too significant to even THINK about building an fpga/asic for an algo at such infancy.
Also, I find it funny how in recent months, starting any post with "I am china" seems to invoke confidence when trying to spread FUD about a subject.
I heard similar talk when the first pics from gridseeds emerged. They were supposed to be "fake" "vaporware" "scam".. you name it. Read carefully what he writes... that scrypt ASICs can do X11... this is impossible. FPGAs, sure... they can do any GPU coin. But they are not ASIC-level efficiency or speed. |
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Cryptsy 24hr volume:
DRK/BTC DarkCoin 877 BTC
DOGE/BTC Dogecoin 337 BTC
BC/BTC BlackCoin 238 BTC
VTC/BTC VertCoin 167 BTC
LTC/BTC LiteCoin 134 BTC
DOGE/LTC Dogecoin 49 BTC
RDD/BTC ReddCoin 45.1 BTC
CINNI/BTC CinniCoin 41.5 BTC
WDC/BTC WorldCoin 28.7 BTC
MN2/BTC Mining Contract 2 28.5 BTC
Points/BTC CryptsyPoints 28.4 BTC
WC/BTC WhiteCoin 26.5 BTC
ZET/BTC ZetaCoin 25.0 BTC
NXT/BTC Nxt 24.6 BTC
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I hope Evan can work in IP obfuscation, as Anonymint suggested. Then it would be hard to challenge DRK in any foreseeable way.
I like this idea, I think we could go open source much sooner while remaining the leading privacy-centric crypto. All in due time. This will give people the option to make copies of DRK though. Step 1: DRK opensources DarkSend etc. Step 2: A clone of DRK appears. Step 3: First remarks from posters on that thread: "So you are just a DRK clone... another shitcoin". Step 4: Another clone of DRK appears. Step 5: First remarks from posters on that thread: "Yet another DRK clone / yet another shitcoin". Step 6: Another 20 clones of DRK appear Step 7: Posters on their respective threads express their discomfort at the saturation of the shitcoin market with DRK clones, observing that if one wants to do it right, they should go with the original. ...something like that. I think we are past the point in which shitcoins were launched every day and their value actually increased due to people buying in. Too much money was thrown away in shitcoins and many people started reconsidering their investment strategies. The point is that if you don't have something good you are dead on arrival. Fundamentals are starting to prevail on the market and people don't pay much attention to clone coins, country coins, meme coins, animal coins etc etc. PoS coins were on the rise after Blackcoin and this trend is also being curbed as the excitement factor is declining. The multiple fiascos of Whitecoin didn't help either. |
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I hope Evan can work in IP obfuscation, as Anonymint suggested. Then it would be hard to challenge DRK in any foreseeable way.
I like this idea, I think we could go open source much sooner while remaining the leading privacy-centric crypto. First we need a market to populate darkcoin and after open source. The transparent market is the only shop in town so far. Everyone has to opt for their shop because ...it's the only one around. It's a monopoly with 100% marketshare for all transparent coins. An anonymous coin breaks the 7bn transparent market by giving users a new choice: Anonymity and Privacy. In terms of growth and decline potential, things are fairly straightforward. When you have 1 established shop with 100% marketshare and a new one comes with 0% marketshare, it can go only one way... the 100% will gravitate lower and the 0% will rise / grow. The growth potential from 0 to 1% to 5% to 10% is the market you are aiming for, and that market already exists and it will continue to grow as governments escalate their crackdown on transparent coins and as users become increasingly aware of how transparent their bitcoin transactions are. Anonymous coins can even be a hedge to negative news of the type "oh they banned Bitcoin - again", in which case you have your primary investment (Bitcoin) fall and the hedge investment (Darkcoin) rise. The reason is that what is negative news for the transparent markets could be interpreted as positive news for the anonymous market which is not regulated or does not seek regulation. So far, due to their close affinity, all coins behave more-or-less in the same direction when bad news hit Bitcoin. But this can change in the future and have similar effects in cryptocurrency valuation as there is in FOREX where, say, USD failures ensure EUR rising and vice versa. |
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Well there was an interesting exercise watching that flash crash after Evan's little "fright".
A lot of hands got shaken there. Talk about taking the pain quickly.
Someone was selling already much prior to the announcement: https://bitcoinwisdom.com/markets/cryptsy/drkbtcThe big red spike is far larger than those which ensued after the announcement, in terms of volume. Almost 40.000 volume. Btw, apparently most people don't even understand what they read or the implications of what they read. Ensuring that the Masternode payment code is more ironed out before going live is a very good thing as it was obviously buggy. Better quality = happy DRKers = happy markets. Broken coin = sad DRKers = blood-red market. I did not think it was bad for DRK, but I did expect a drop in price. The price rose a lot the last week in anticipation of the update, partly due to real buyers, partly due to whales pumping the coin up with the news as an excuse. Then the update is suddenly a few weeks off. The whole situation changed. Edit: And add to that people selling because they believe others will sell, and then people panic selling. But as it happened, I came across Evan's announcement almost immediately, but my mind blocked it out because it looked like another mining pool message with its big, colored letters... so I didn't take as much advantage of the drop. Me either, I hope it drops <0.005 in the short term to rebuy some coins I sold while trading and then lost the train upwards. One of the successes of the pumpers in this round was that they locked out the traders who thought they were selling high (and hoping to rebuy lower)... few expected that the rise from 0.0036 would exceed 0.0054 and continue towards the 0.0065 mark, without major corrections that would allow them to buy back. I sold some at 0.0047 and then some at 0.0053 - two points I thought were good for resistance. 0.0047 I lost it completely - it went way above. 0.0053 was just a bit lower than the previous 0.0054 so I played it kind of safe there by selling slightly earlier. Yet both times it kept going up and up. I said to myself, I won't panic-buy back, I'll just wait it out for the fall so that I can get back in. But the fall never came - until today when I was asleep  If the opportunity comes to buy back my traded coins, while also ensuring a more robust and functional Dark, why not... edit: I guess it won't happen. A guy has 160 BTC + 140 BTC (Cryptsy/Mintpal) @ 0.0052. |
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Well there was an interesting exercise watching that flash crash after Evan's little "fright".
A lot of hands got shaken there. Talk about taking the pain quickly.
Someone was selling already much prior to the announcement: https://bitcoinwisdom.com/markets/cryptsy/drkbtcThe big red spike is far larger than those which ensued after the announcement, in terms of volume. Almost 40.000 volume. Btw, apparently most people don't even understand what they read or the implications of what they read. Ensuring that the Masternode payment code is more ironed out before going live is a very good thing as it was obviously buggy. Better quality = happy DRKers = happy markets. Broken coin = sad DRKers = blood-red market. |
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It seems like a great coin but those are things that can be done with other coins (already or very soon) why would someone go with DRK.
If someone can't figure it out for themselves, perhaps they should go with those "other coins", as they went for meme coins, country coins, and all kind of shitcoins. That ended up well... DOn't get me wrong I have some DRK myself (very very few) but tell why someone should hold them more if this looks like a DUMP period ?
Why would you take advice from others on whether to buy, hold or dump when they have conflicting interests with you? I could tell you to sell and then buy your coins. Or I could tell you to buy and then dump you my coins. You have to make these decisions on your own. |
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One note though: Whether DRK will be profitable to mine or not, will not only depend on the block reward but also coin price. If, by the time X11 asics come, there are like 50-80-100 x11 coins, it might be the case that many of them might be more profitable to mine. The large number of x11 coins, is, in a sense, a guarantee for ASICs appearing at some point.
Sure, an abundance of X11 coins would make ASICs appear for X11. But, if none of them are pointed at a DRK pool, we still have The Bomb scenario, but then ANYONE could drop it. How viable is it to somehow make it so that all the X11 networks are actually one network? You mine DRK, you shore up the networks of other coins as well. Hopefully that makes sense. I think it would be great for X11 to have merged mining of multiple (or all?) X11 coins. DRK's diminishing rewards with escalating hash is good for low inflation but can be a problem for protecting the network in the long run if it's not profitable to mine. Merged mining would render X11 mining very profitable (multiple revenue streams for miners who dump x11 clones and shitcoins) and lend tonz of hashpower to the DRK network that it would otherwise not have. The thing is, is it doable? What would it require? I have no clue. |
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This doesn't look like an impending plummet to 50 to me. Looks more like people are sh*t scared of losing their coins and are clinging to them for dear life.
No bitcoin millionaire became a millionaire by selling at 1, 2, and 5$. So... not much temptation really with current prices. |
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we'll reach minimum block reward sooner / the total number of coins will bottom out....
My only concern is that this behavior will result in the DRK network never having the momentus hashrate that makes other blockchains untouchable. One 3TH/s ASIC would rape the whole network instantly. I'm not saying that X11 = SHA256 Double Round. But that ASICs are inevitable with anything that catches on enough to have value. We all hope it catches on simply because it's a good idea. But the value that comes with it will drive ASICs into X11. DGW3 certainly discourages it as the network hashrate is already reaching minimum with a few dozen GPU rigs... But it might be stifling it so much that the network will never have appreciable hash defense. If say, guvthugs decided to build just one "X11 Neptune" of their own, DRK breaks. None of this "buying masternodes" crap arguments. They really could buy all the hashpower they need without touching a GPU or the markets simply by building one custom ASIC. Dev cost on that is a few million bucks in bureaucracy free-to-them taxed money. This is why ASICs are actually a good thing for a coin. If you don't let your coin become an ASIC coin, then it takes one fat wallet to make one for themselves and your coin is borked. If your coin isn't using them, then it becomes a nuke they can drop on it. My hope is that DGW3+X11=ASICs still happen, but the reward is low enough that the ASIC's price will have to be sensible enough that anyone can buy it, thus avoiding centralization. But, that doesn't seem to be what is happening. If a coin stays GPU/CPU mine-able, then a clandestine FPG or ASIC becomes a cheap (in the eyes of it's creator who has way deep pockets) saboteur. You MUST let your coin escalate into ASICs or it's doomed by anyone who can afford to make The Bomb. We are in full agreement. I'd rather have public ASICs rather than totally private ones that can own the network. One note though: Whether DRK will be profitable to mine or not, will not only depend on the block reward but also coin price. If, by the time X11 asics come, there are like 50-80-100 x11 coins, it might be the case that many of them might be more profitable to mine. The large number of x11 coins, is, in a sense, a guarantee for ASICs appearing at some point. Actually, someone did announce the world first x11 ASIC a few pages back...
It was a joke by that poster  |
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