In other news...Bitcoin going ballistic ($USD market that is). 5 month correction complete and it appears to be taking DRK with it. No immediate impact on the BTC / DRK market.

New money now coming into crypto all round.

It's main engine ignition. Also, the market seems to know exactly where it's going for the new revaluation and isn't going to p*ss about getting there by the looks of things.

That's possibly true, but ridiculously unenforceable.

People said the same about the internet itself. The level of decentralisation is such that laws are meaningless. Centralised authorities can only deal with decentralised threats.

Stopping crypto by means other than simply regulating fiat gateways would be like trying to shovel smoke with a pitchfork in the wind (in the words of a famous Beatle).

You might taste it over the next 24 hours.

Momentum indicated by 4hr moving average mumbo-jumbo has just swung to the upside this afternoon and that's helped paved the way for a new round of buying. It appears to also have triggered quite a bit of profit taking, so a lot of this pump so far has been in cushioning the wave of sellers checking out.

Just shows how strong demand is, even in the rarefied air at these heady heights.

For example, 60 seconds ago there was 2208 DRK shot sitting in the asks about 8 rows from the lowest sell order. It got snatched along with all the smaller orders below it which shows that traders are jittery about missing out on significant lumps of liquidity.

You know how in transonic aerodynamics, as you pass through the speed of sound, the laws reverse so that an aero engine nozzle needs to have a increasing cross sectional area instead of an decreasing one ?

Well a similar phenomenon seems to be taking place in the DRK marketplace. The appearance of large sell orders is driving the price up instead of down, which is a reversal of regular trading behaviour. Possible indication of DRK going transonic ? 

References: http://nptel.iitk.ac.in/courses/Webcourse-contents/IIT-KANPUR/machine/chapter_6/3.gif

Thanks for posting that.

I like the idea that Darksend is going to be the default mode for the network eventually because I've been telling people that thats the big difference between DRK and Dark Wallet - i.e. that income remains private.

re. guessing on the future, yes, I accept your point. We are all guessing and I'm happy to "let people have their fun". But at the same time there's a balance to strike because price hysteria can come at the price of turning the thread into a cult sideshow. It just gets overrun by pumpers and dumpers waiting on their rise and the thread ceases to be informative for investors which IMO should be its main purpose. (As I say, I've done my fair share of it, so no fingers pointed in any direction that isn't also my own).

Having said all that, the points you've made about the long term future of a currency like this are basically ones that I agree with. Whatever Bitcoin's future as a store of value, there's bound to be a massive part of the economy that just doesn't want to be transacting on a blockchain as transparent as Bitcoin's full stop.

It's a no brainer.

That kind of research and thinking is definitely not in the BS category. I hand't seen it before.

Will digest.  Thanks !

ok, lets think this through (With my "know all attitude" which stems from having spent too much time in alt coin threads that were all going rival bitcoin at one time or another and balloon in price to kingdom come but then died and lost a lot of gullible investors a lot of money).

We'll look at 3 things: role of asset, market technicals and market fundamentals - at least as far as the scope of a single post allows.

[1] - Role of Asset. Why are most people in Darkcoin ?

They are in this asset, not as an investment but as a HEDGE for Bitcoin since most people have a majority invested in BTC and a minority in alts (It's reasonable to assume this since BTC is the reserve currency against which everything else is measured. If your DRK went down in price against Bitcoin you wouldn't be very happy even if the number of DRK's you held increased).

DRK is now being seen as one of the leading hedges for bitcoin investment. In particular, it hedges well against a possible perception of Bitcoin's blockchain being too transparent.

But the idea of a hedge is that it works opposite to your main investment. So if you picked a good hedge, it will go up if your main asset goes down for the reasons that you were hedging against, thereby offsetting the losses on the primary asset. Conversely, people shouldn't be surprised if the hedge goes down when the main asset rises.

In turn, Monero is a good hedge for Darkcoin because it uses an alternative technological approach, and so we are now seeing its value rise as well. A sensible investment strategy therefore might be a 70, 20, 10 split between BTC, DRK and MRO respectively (if you were a DRK fan) or a 70, 20, 10 in Monero's favour as the main hedge (If you were a MRO fan).

Note, that one of the things which makes it potentially NOT a hedge is if you can't control the transparency of money that you ** receive **. I'm not sure about this and need to do more research - maybe someone can clear it up. But most people are more worried about keeping their income private than their expenditure. If transactions are not opaque by default and you have to hope that your customers click "use Darksend" every time they send you a payment then Darkcoin is basically no better than Dark wallet. For me, to be effective as a hedge, the whole network needs to be dark.

[2] - Market Technicals

When we look at Bitcoin vs Darkcoin, they are at opposite ends of the price curve in their own particular markets. Bitcoin is at the bottom, Darkcoin is at the top. BTC has gone through a 5 month consolidation, during which it compressed down to less than half it's peak value. DRK on the other hand has inflated by about 1000% in the space of about 2-3 weeks. So from a purely technical perspective, it gives DRK a major challenge to further accrue value against Bitcoin. Not saying it won't do it - it may have some way to go yet, I'm just pointing this out in response to the claim that "I am guessing"

[3] - Market Fundamentals

What are the single biggest developments on the horizon for Bitcoin and Darkcoin respectively that may impact the market ?

For Darkcoin, it's obviously the arrival of the Masternode phase of the coin's technical evolution and more long term, the adoption of the Cryptonote technology (I don't now if that's official or just an off hand remark by the dev).

For Bitcoin I'd say that it's the prospect of the Winklevoss ETF receiving final approval and going live on the New York SE. I don't know if people actually realise what a huge deal that is - it will have taken the best part of 2 years to pass through the various approval stages. It will open the door to institutional funding and send Bitcoin on the next phase of its price evolution.


If you think that is "guessing" then please post your own "guess" and I'll gladly read it with interest. I'm afraid I can't apologise for the "know it all" attitude because I happen to have quite a lot of money in this coin and I'm sick of spending time in alt coin threads full of B.S. about what huge price the coin's going to have in a years time and nothing about why it might have that price other than "great dev, great community", followed promptly by a puff of white smoke and a stampede for the door.

I do.

It's because 5 years of technical evolution, promotion, being battered to death in the media spotlight and surviving, having ETF's being applied for and slowly making their 2 year journey through the regulators and being seen to have "the end in sight", has umpteen GH/s of hashing power on it and a huge worldwide infrastructure supporting merchants.....(on and on)... trumps a 4 month old piece of code that's reproducible and made by a couple of guys in their spare time by about 200%.
 

I would agree that DRK "has a feature that can drive mass adoption". It certainly fills a gaping hole in the Bitcoin feature set.

All I'm saying is that the price speculation that gets banded about on here is delusional and dangerous. The reason it's dangerous is:

[1] - it leads to misplaced expectations, which is probably the number 1 destroyer of crypto-asset valuation at the moment (See Blackcoin)

[2] - it's baseless. The people making these price predictions have basically no idea why the price might reach that level. I've just given you an example of one of the most successful coins in the history of alts that didn't add much to its valuation over a year despite its success. Remember, to go up in valuation (measured in BTC) the asset needs to be a better investment than BITCOIN, not the US dollar. That is a very tall order and most of DRK's unique qualities are now already priced in by the market. It's only going to get less unique from here as more "anonymous alts" come on the scene. The future price evolution is ambiguous at best

We've just gone through a 1000% price increase in the space of a few days. What needs to happen now is a refuelling period.

What that means a lot of product development, consolidation, adoption and promotion WITHOUT an associated increase in the valuation. That will allow the current price to consolidate and in 3-6 months time, the new fundamentals can form a proper basis for a revised price increase against BTC. Otherwise it's a bubble and disappointment awaits.

Let Bitcoin do the work on the $US Dollar front in the meantime.

You probably wouldn't use it but the crypto-economy in general would use it to make small numbers of extremely large monetary transfers.

That's what it was designed for. To be a monetary backbone - and before you say "why can't I just use Bitcoin for that", it gets technical and has some economics criteria thrown in. Suffice to say, it's one of the coins that had a lot of thought put into the role it would adopt in the crypto-economy.

Have a look at this video: http://www.youtube.com/watch?v=ynwz8H66chY

That is now almost a year old and Peercoin is STILL in the top 4 marketcap coins. That is amazing and is not due to being "kept up there by traders".. If DRK can do that in a year's time it will be in with a high chance of being here for good.

Peercoin was the first major 'revision'. It had an an economic model which was thought through and much more focused on a particular role - i.e. being financial 'backbone'. This was reinforced by its high transaction fees and hybrid algo.

Then there were improvements in the algos themselves - Asic resistence, multi algo, service layers, efficiency and retargeting revisions, gravity wells etc.

What I'm saying is that having the most advanced technology isn't what gets a coin its valuation. Being seen as an 'original' certainly would appear to contribute and that's probably where DRK is strong.

Remember to print yourself a paper wallet and make sure you have the change addresses covered as well.

Whether that's true or not, your ignoring the very nature of the altcoin market.

The altcoin market **in general** is possibly a long term hold. But no single coin is. All these coins are experimental at best and money moves seamlessly from one to the next. Individual coins are like players in a footbal team. The team as a whole may be invested in long term, but each player only has a temporary role before the next one comes along to take his place.

Statistically, it's very unlikely that Darkcoin adds much to its valuation from here ever again. If it did it would be a exception and it won't be because it has the best technology. Being in front "technologically" does jack to a coin's valuation. There are loads of coins which have way overtaken Bitcoin, Peercoin and Litecoin technologically but haven't even put a dent in their price.

Darkcoin does, however, have a chance of establishing a brand-based position as market leader in the anonymous transactions market. (If the community don't screw it with misplaced expectations like Blackcoin did). Also, the price to pay for that position of leadership may be a REDUCTION in valuation against bitcoin, not an increase. This has been the case for some (not all) top 10 Alts which have survived the twighlight phase. However we won't really know that till Christmas. We may get the $50 price but because Bitcoin did it, not us.

One thing's for sure, it's the most "to the moon" delusional investors are also the quickest to dump their load and move onto the next thing. That's because they are the ones investing based on price movements and are basically clueless about the real nature of this market, what's driving it and what expectation to have. (I've made my share of dreamland posts w.r.t. price so I don't exclude myself from this criticism).

The way forward is for the investor community to remain informed and realistic with regards to the fundamentals of this coin. What if Evan discovers a problem that he wants to take time to fix but that causes some kind of blockchain disruption ? Is he to sit there paralysed and biting his fingernails about causing a market crash ?

Also, we need to take a constructive approach with regard to competing alternatives. This isn't tribal warfare, it's a big revolution in finance where everyone has a part to play. Even the losers will have played a huge part in the ultimate outcome.

I'm not saying things can't progress well from here, but aim for survival, not the moon. That in itself will be a massive sucess.

This is the kind of post that kills a coin stone dead.

Take a look back at the "price predictions" history for all dead coins. They were all going to "$XXXX" y the year end.

If you want DRK to go the way of Cinnamon coin et al, just keep making delusional price predictions.

Use your noggin folks. What's going to happen between now and August ? A flood of anonymous coins onto the market and new technologies etc. We've just had the easy bit. Now coming up is the challenging bit which most coins usually don't survive.

So if your going to post price predictions and don't want to be trolled to death for me and others by it, please post your basis and reasoning along with it.

Yes indeed.

Bought back in. Looks like about 16-24 hours to completion of correction cycle, at which point...maybe horizontal (cos everyone's in that wants in) or maybe not.

What a miserable remark.

Idiot.

Go and do some research and find out why dark's falling and this one's rising. I'm in both -there's good reason to be both. They are complimentary technologies and both have extremely promising features.  When I see crap like this posted though it basically makes me want to dump everything I have in that asset just to screw holders that make scumbag posts like this one.

Is the dev back from holiday ?

I'm a Darkcoin fanatic.

I saw Monero as a threat to my investment.

So I bought some.

Now I'm a Monero fanatic as well  

Now that this coin is on people's radar, pumping and they realise they missed getting in at ground level, expect:

[1] - loads of FUD coming its way, including crap about dodgy wallets, instamines, scam etc etc

[2] - a pretty quick collapse in value unless things are seen to be getting worked on and having a future

LoL

That should really read "Total Coins NOT in Circulation".

You can now no longer get a decent amount of monero for love nor money unless you want to pay 1,300,000 Sats for them.

EDIT: (Had to add an extra zero on there)