I thought block generation time is set? Also, all the transfers that were happening can't be counted, they don't generate rewards/ don't create coins.
It didn't take seconds. I do simple python sum using p2pool subsidy function subsidy function is for next block reward. time is GMT+9 height: 1 time 01-19 12:54:41 difficulty 0.00024414 nbits 1e0ffff0 subsidy 500 sum 500
height: 2 time 01-19 12:54:46 difficulty 0.00024414 nbits 1e0ffff0 subsidy 500 sum 1000
height: 3 time 01-19 12:55:01 difficulty 0.00024414 nbits 1e0ffff0 subsidy 500 sum 1500
height: 4 time 01-19 12:55:10 difficulty 0.00024414 nbits 1e0ffff0 subsidy 500 sum 2000
height: 5 time 01-19 12:55:13 difficulty 0.00024414 nbits 1e0ffff0 subsidy 500 sum 2500
height: 6 time 01-19 12:55:22 difficulty 0.00024414 nbits 1e0ffff0 subsidy 500 sum 3000
~
height: 1150 time 01-19 13:40:22 difficulty 0.00097656 nbits 1e03fffc subsidy 500 sum 575000
height: 1151 time 01-19 13:40:24 difficulty 0.00097656 nbits 1e03fffc subsidy 500 sum 575500
height: 1152 time 01-19 13:54:38 difficulty 0.00390625 nbits 1e00ffff subsidy 277 sum 575777
height: 1153 time 01-19 13:54:40 difficulty 0.00390625 nbits 1e00ffff subsidy 277 sum 576054
height: 1154 time 01-19 13:54:49 difficulty 0.00390625 nbits 1e00ffff subsidy 277 sum 576331
height: 1155 time 01-19 13:55:13 difficulty 0.00390625 nbits 1e00ffff subsidy 277 sum 576608
~
height: 1726 time 01-19 14:51:03 difficulty 0.00390625 nbits 1e00ffff subsidy 277 sum 734775
height: 1727 time 01-19 14:51:05 difficulty 0.00390625 nbits 1e00ffff subsidy 277 sum 735052
height: 1728 time 01-19 14:51:33 difficulty 0.015625 nbits 1d3fffc0 subsidy 500 sum 735552
height: 1729 time 01-19 14:51:38 difficulty 0.015625 nbits 1d3fffc0 subsidy 500 sum 736052
~
height: 2877 time 01-19 17:45:48 difficulty 0.0625 nbits 1d0ffff0 subsidy 500 sum 1310052
height: 2878 time 01-19 17:45:45 difficulty 0.0625 nbits 1d0ffff0 subsidy 500 sum 1310552
height: 2879 time 01-19 17:45:46 difficulty 0.0625 nbits 1d0ffff0 subsidy 500 sum 1311052
height: 2880 time 01-19 17:45:48 difficulty 0.25 nbits 1d03fffc subsidy 500 sum 1311552
height: 2881 time 01-19 17:45:50 difficulty 0.25 nbits 1d03fffc subsidy 500 sum 1312052
~
height: 3453 time 01-19 21:06:33 difficulty 0.25 nbits 1d03fffc subsidy 500 sum 1598052
height: 3454 time 01-19 21:06:43 difficulty 0.25 nbits 1d03fffc subsidy 500 sum 1598552
height: 3455 time 01-19 21:06:44 difficulty 0.25 nbits 1d03fffc subsidy 500 sum 1599052
height: 3456 time 01-19 21:07:12 difficulty 1.0 nbits 1d00ffff subsidy 277 sum 1599329
height: 3457 time 01-19 21:07:55 difficulty 1.0 nbits 1d00ffff subsidy 277 sum 1599606
height: 3458 time 01-19 21:08:45 difficulty 1.0 nbits 1d00ffff subsidy 277 sum 1599883
~
height: 4031 time 01-20 04:04:34 difficulty 1.0 nbits 1d00ffff subsidy 277 sum 1758604
height: 4032 time 01-20 04:05:52 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1759104
height: 4033 time 01-20 04:06:11 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1759604
~
height: 4182 time 01-20 10:39:26 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1834104
height: 4183 time 01-20 10:40:05 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1834604
height: 4184 time 01-20 10:41:13 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1835104
height: 4185 time 01-20 10:41:59 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1835604
height: 4186 time 01-20 10:48:13 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1836104
height: 4187 time 01-20 10:50:52 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1836604
~
height: 4239 time 01-20 12:48:01 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1862604
height: 4240 time 01-20 12:49:06 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1863104
height: 4241 time 01-20 12:50:55 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1863604
height: 4242 time 01-20 12:55:30 difficulty 3.44635085 nbits 1c4a47c4 subsidy 500 sum 1864104
height: 0 time 01-19 10:40:18 difficulty 0.00024414 nbits 1e0ffff0 subsidy 50 sum 50
So it would be 1864104 + block 0 reward 50. you mean that blocks were being created every couple of hundred milliseconds? That's crazy! really? I seriously can't believe I got so few coins when I was hashing within a couple of hours (had to figure it out at the time) it just doesn't seem right? Lol, it's fun being old. looking back at my transactions in my wallet, I never did get solo mining to work. I didn't start earning until I joined the lotterymining pool    That was on the 20th and yah, I remember how frustrated I was, LOL. wow, I really can't believe the coins were flowing like Niagara Falls!! |
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I thought block generation time is set? Also, all the transfers that were happening can't be counted, they don't generate rewards/ don't create coins.
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I keep reading people saying that the people who mined in the first 24 hours of this coin mined 2 million coins, so I just couldn't believe that could be true. The highest block reward was 500 coins, I remember the difficulty going up pretty quickly, but even if it didn't, and the block reward stayed at 500 coins, the most that could have been mined is 288,000 coins.
I just want to set the record straight. People really exaggerate - a lot!
288,000 / 500 = 576 blocks. 2,000,000 / 500 = 4,000 blocks. Xcoin has at least 4000 blocks in the first 24 hours. Fair start. genesis has 50 reward. height 1, took almost 2 hours. !
height 0 : Time: 1390095618 (2014-01-19 01:40:18)
height 1 : Time: 1390103681 (2014-01-19 03:54:41)
height 4242 : Time: 1390190130 (2014-01-20 03:55:30)
!
I'm totally lost?? Where did I go wrong? 2.5 min. blocks 24 blocks/hour 24 hours/day 24x24=576 blocks then times 500 coin rewards = 288,000 There were a LOT of trades or transfers mixed in with the actual payments made, they create transactions as well. You can't count those, only the transactions that generate payments |
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I keep reading people saying that the people who mined in the first 24 hours of this coin mined 2 million coins, so I just couldn't believe that could be true. The highest block reward was 500 coins, I remember the difficulty going up pretty quickly, but even if it didn't, and the block reward stayed at 500 coins, the most that could have been mined is 288,000 coins.
I just want to set the record straight. People really exaggerate - a lot!
I was wrong.
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Here's what the distribution looks like over time in case you missed it:   |
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Ok, so I was a bit bored and instead of idling on reddit and looking up coinmarketcap every 2 minutes, I tried something. It's just a rough copy where I copied most of the /r/DRKcoin and just used a different stylesheet which was already a almost complete layout. I think the header could be better, but aside from that, I think it's much more user friendly than the current scheme especially since a new, brighter website is about to launch https://i.imgur.com/KADMbx1.pngWhat do you think? The logo kind of disappears in the header, could the header be silver perhaps? |
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Darkcoin has done something really impressive by making a coin distribution strategy that no other cryptocurrency can claim to have implemented. It ultimately does have a limited supply. New coin generation (and inflation) will gradually taper off over time at a stable rate of 7% annually. Compare this to the much sharper 50% drops every 4 years in bitcoin. Additionally, the darkcoin block reward still adjusts on a block-to-block basis due to difficulty. Maximum:25, minimum 5. If the network hashpower is too low, the payout increases as an incentive. In the long term, it is incredibly likely that added network power will simply reduce the reward rate to 5 DRK per block. This results in the projected total number of coins reaching approximately 22 million over the time frame shown - slightly more or less depending on how quickly hash power is added. I suggest that coastermonger's charts be put on the first page. Charts are good for the visually inclined (er... like me, LOL) I'm pretty sure we're gonna hit the lower end of that here soon when everyone abandons the scrypt ship and jumps into our boat, but oh well... Now we really have to stick with it. |
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@feeleep@coinmine Please  Again? Ugh! Please, anyone who is mining at Coinmine.pl, please move to another mining pool? Lotterymining is a great pool that I can recommend, but I'm sure they're all wonderful! just please stop using coinmine.pl because they consistently have more than 50 % of the entire hash rate!!! thank you!!! |
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Given that he tweeted about DRK, maybe it should be best for Evan to propose him to have a review of DarkSend's code when the code is ready and tell him that he would be honored to have him check it out etc etc. It'd be great for bulletproofing the implementation and a far better contribution of his time than writing here (which I suspect he won't do - but I may be wrong).
After listening to his interview and reading his tweets, I would not trust what he had to say just because I'd worry he has too strong a bias against anything encroaching on bitcoin. But I may be wrong, and he may be above that?? who knows? And I don't really think Bitcoin has a leg in the grave, I just think it's so limiting, and it's become kind of institutionalized, which I don't like Some day, Darkcoin may become just as institutionalized. So... |
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Yah, it's been a long day, eh? LOL.
Now I'm curious to know what Adam Back thinks of Darkcoin. I really hope he has changed his mind on alt coins and seen the light that Bitcoin is entrenched and can't/won't evolve anymore. But of course, that's my opinion, Mr. Back would know much more than I of how entrenched bitcoin is, and if there is a way to break through.
Ah, looking at twitter, I see he hasn't. Oh well, he's been wrong before, apparently many times, LOL.
Yeah from twitter he seems fairly pessimistic about Darkcoin (and all altcoins for that matter). He's right that Dark Wallet could conceivably replicate a lot of Darkcoin's functionality using bitcoin; that said, Dark Wallet exists only as a fundraising campaign currently. And I have no real interest in Bitcoin, I see it as one leg in the grave. If they make darkwallet, and it required any help from the bitcoin developers, I'm sure they'll get none. Why didn't Evan do something for bitcoin? I don't know, but I can guess. I wouldn't want to work with them either, and to have to explain everything he is doing to people without vision all the time would just suck the air out of any sail. It's not hard to figure out his motivations, and I don't think Evan's motivations are for a quick buck, he doesn't need 'em, though I'm not suggesting he wouldn't be happy to be rewarded for his work. |
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Ugh, I'm so TICKED OFF!!! My Ubuntu crashed at some point and I just noticed I'm not hashing over there, and I don't know how long it's been down! My windows 7 NEVER gives me trouble! This is unbelievable!
Sorry, I needed to rant.........
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Yah, it's been a long day, eh? LOL.
Now I'm curious to know what Adam Back thinks of Darkcoin. I really hope he has changed his mind on alt coins and seen the light that Bitcoin is entrenched and can't/won't evolve anymore. But of course, that's my opinion, Mr. Back would know much more than I of how entrenched bitcoin is, and if there is a way to break through.
Ah, looking at twitter, I see he hasn't. Oh well, he's been wrong before, apparently many times, LOL.
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Thank you, I now have it in my favorites  |
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Evan don't play around. Decisions get made with no delay. Gotta respect that.
I think it was a good medium ground @ 7%
14 million minimum - 71m max
22 million projected Darkcoin total supply
I thought we would reach 84 million at some point when I first invested. It's not going to even come close! 20 million total if we're lucky.
@TanteStefana what if at some point in the future if the supply is constraining transactions we implemented a split. Kind of like a stock split, halving the share price while doubling the number of shares. Companies do it all the time with no real penalties. And it would relieve the psychological barriers to using it as a currency. Maybe if there was a voting quorum or something so there would be majority agreement. Just a thought.
@Lebubar I think the distribution is completely fair. It's even still on exchanges at low levels after word has gotten around. If people don't hold any DRK it's because they didn't want any.
Yes, anything is possible in the future. I'm not dead set myself on anything, but wanted to make the argument for the other side as best I could, and I'm glad Evan decided a less harsh solution. Cryptos are such a new thing, that nobody really knows the "perfect" answer. I'm glad Evan made a decision and I hope it entices more investors to come join us I only disappeared to do chores, and literally take a nap, 'cause that was an exhausting discussion, RoFL. I'm still listening to that interview, but got interrupted. Need to get back to it |
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Cool, I'm reading now listening |
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Adam Back tweeted Darkcoin
Adam Back tweeted Darkcoin
Adam Back tweeted Darkcoin!!!
@adam3us
"DarkCoin seems to be bitcoin fork with a multi-hash PoW and a p2p CoinJoin impl. DarkWallet does the same thing with BTC?"
I invited him to join the discussion (still trembling)…
@eduffield - perhaps you should connect with him…
who is Adam Back? Silly bone is tickling again Seriously, I assume someone important in the crypto world? Can you enlighten me? |
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Great, I hope that satisfies the investors! Can't wait 'till next week! |
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I want to start mining this instead of Vert. I'm sold on the lower electricity and anti asic properties and the more I research it the better it looks as an investment standpoint(lower difficulty good time to get in).
Looking that this, how do i find strait forward directions on how to optimize this for GPU"S. I'm new to X11 and will just jump in and try and figure it out, but if anymore can help speed up that process with links or specific info, please do for me, and anyone after me. I have a 6 rig 7950 msi twin frozr that i will use full time on this coin.
There is a website someone put together, but I can't remember where? Maybe search gpu chart on this thread? There are links in here all over, but it's a huge thread now  Mostly, for me at least, lower the intensity until you get the best hash acceptance, it'll be lower than in script. People were talking about the wu or something like that, but I have no idea what that is, LOL. |
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As it stands, DarkCoin can live forever, if the artificial 84million cap were removed. It is still rare, it takes a century to get to 100 million. Look at the United States Deficit! It's in the Trillions! And people think 100 million coins for the world population is too much?
I'm going to respectfully disagree. Darkcoin needs a cap, it doesn't have to be quick or sharp, or anytime soon, but there needs to be an expectation that it's a limited commodity like gold. Why? Because it's directly competing with other limited commodity cryptocurrencies. If darkcoin is inflationary, there is no advantage to keeping your money in it long term. This is a problem, because trying to trade in and out of the currency would reduce the privacy that it affords. I could hold another limited commodity cryptocurrency instead and very likely watch its value gain with time. Gradually reducing the rewards over time is an excellent solution. Miners will still make money off of transaction fees, the price will adjust upwards as inflation diminishes, and there will be real incentive to keeping your money in darkcoin long term. These are the characteristics you would want in an ideal currency. I guess, I just saw a different future for this coin, as an actual coin, not a commodity. I've said my peace Is it that simple? Why wouldn't people use the coin for transactions even if others are hoarding them. Still anonymous transactions. I'm hoarding mine right now regardless. Isn't that a llegitimate function? Some will transact some will hoard. I think know there's a happy medium. I'm sure there is a happy medium, that's how the world works best. Sorry if I sounded self centered as I was just trying to clearly state my viewpoint. I literally got exhausted. Still am. I made the best points I could for leaving it as is, but I saw eddufield's comment that investors are insisting on a change, and the coin does need to survive childhood, so... hopefully we can keep it mild |
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