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is now a good time to buy? Haven't really followed anything dark related
It's a great time to buy. DarkCoin is not a hype and pump/dump coin. It has attracted attention through actual value by means of the soon-to-be-beta (actually-in-alpha) DarkSend functionality (in addition to 11 different hashing algorithms which make it ASIC resitant, Kimoto Gravity Well (KGW) which makes it safe from multipools for example and adjusts difficulty every block and a great professional developer). This new feature will allow you to send coins anonymously directly from the wallet without passing by TOR (darkweb) or through a mixing service which requires trust in the operator of said service and also involve fees (2%). It is a trustless solution straight from the wallet and it will be the first coin to achieve such a feat. It experienced natural growth, going from around 0.00005 BTC when first hitting markets to 0.0025 BTC without any kind of useless hype (e.g. Maxcoin). If you look at the price now though, it is quite a bit lower, ranging from 0.001 to 0.0014 depending on the market. What happened? One of the exchanges on which DRK trades (C-CEX) had a malfunction/hack which allowed a user to gain access to hundreds of BTC for free, which he couldn't cash out. He figured out that by buying DarkCoin, he could then transfer it out of the exchange easily, this caused a huge spike in buys since he put in around 300 BTC worth and bought up all DarkCoins up until 0.0075 BTC or 7.5 millibits. He then proceeded to transfer all those coins to another exchange (Poloniex) and started dumping as much as possible, as quickly as possible, with no regard for price. This caused a chain reaction which lasted for around 4 days. At first the coin recovered admirably to the dumps, staying very close to its regular price after a few dumps. After two days though, the price couldn't hold up anymore and we suspect that a lot of very early adopters started getting scared and began dumping as well. Through some investigation and through a mixture of guilt, the "hacker" (who claims he actually isn't a hacker and the BTC simply appeared due to a mistake), came back and contacted the right people to start giving back the BTC he had taken from the exchange, since a lot of other people were affected and had their funds frozen. Of course he had lost a lot of value by filling very cheap buy orders for DRK so he can't possibly give it all back but the important thing is the dumps are stopped now and the coin has stabilized again. It has found solid ground and is starting to rise again. This rise will be fueled by the 3rd DarkSend alpha test which is happening tomorrow and after that, the developer (eduffield) has said that the beta will come soon as the code is very solid. You have a unique chance right now to buy into a coin which really isn't supposed to be available at these prices anymore due to its real value. Only reason it's low right now is because of the situation I explained above. It belongs on the top of the charts as much as other coins with added functionality such as Peercoin/Namecoin for example. It's not a simple clone like 99% of other coins and it's here to stay. TL;DR - Great time to buyNice writeup of events! Now is definitely a great time to buy. The DRK price is artificially low due to these big dumps occurring. Darkcoin is clearly undervalued when you compare its market cap to other coins. Darkcoin is definitely more innovative than Mintcoin. Darkcoin's proper list on this market cap list should be right below Worldcoin. Which would put the price at .00243 DRK/BTC. http://coinmarketcap.com/I just bought 10BTC worth of DRK on Cryptsy at these discount prices.....TO DA DARKSIDE OF DA MOON!
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If US law enforcement keeps up this kind of bullshit, they will succeed in forcing the Cash->Bitcoin market underground.
If they crack down hard enough on LocalBitcoins, an equivalent darknet site will pop up where people send cash in mail to buy their coins.
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Is anyone else suffering from burner's remorse?
I feel like a bitch only burning 6 btc.
It has really been bothering me, constantly looping around in my head about how I should have burnt at least 10btc.
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Not a very good argument. The thing about a blockchain based system is that it literally cannot be shut down. That means I can send shares to whoever I want, whenever I want, without anyones permission.
What a retard. I'm talking about the issuer. You can trade shares of a business that doesn't exist anymore because it has been shut down, how does that fix anything? We all understand that you would still have to trust the issuer with a decentralized exchange. Current system: Trust Issuer Trust Passthrough Operator Trust Centralized Exchange Decentralized System: Trust Issuer Either way you still have to trust the issuer. The decentralized system eliminates the need to trust third parties between you and the issuer. These third parties are extra attack vectors for governments as well. the way it should work for AM is, FC picks a DEx to use as settlement, TAT or whatever passthru continues to trade on centralize exchanges to gain the benefit of speed and more broader market, when user withdraws from passthru, passthru can just execute the change of ownership on the DEx,
no more FC pm/email,
FC uses information on DEx to distribute dividend, Of course, ppl can also trade directly on DEx, maybe arbitraging across DEx and centralize ones.
This ^^ is an awesome idea and what I was trying to recommend to TAT. Why not innovate and embrace the new technology. Where's the downside to TAT issuing Passthrough shares on a decentralized exchange like Counterparty? How is this different from issuing passthroughs on multiple centralized exchanges. Why not make passthroughs available on decentralized exchanges as a temporary fix until Friedcat transfers all the shares over to a decentralized solution? This way we only have to trust the issuer and the passthrough operator. Eliminates having to trust a centralized exchange like Havelock.
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Are potential buyers discriminating against me because my name is Bitye West?
I haven't had one message or inquiry about my 800 XCP for 8 btc offer.
I have a total of 6856.81 XCP. I'm just looking to sell enough to cover my initial investment of 6 btc.
I so wish i were you I'm kicking myself for not going with my gut and investing 10+ bitcoins. I was feeling conservative after getting raped by Dogecoin, Catcoin, Earthcoin (no more scrypt-clones for me)
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AM does not need to do so himself. Any big trusted shareholder can issue AM assets with Counterparty.
This is true. It would be awesome to see an Asicminer-direct-share-backed asset issued on Counterparty. Maybe ThickasThieves would be up for the task? This would be the first "Bitcoin blue chip" asset on a decentralized exchange. One small step for TAT, one giant leap for Bitcoin securities.
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Are potential buyers discriminating against me because my name is Bitye West?
I haven't had one message or inquiry about my 800 XCP for 8 btc offer.
I have a total of 6856.81 XCP. I'm just looking to sell enough to cover my initial investment of 6 btc.
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I've looked at this XCP thing. it doesn't have prices in the orders... why would I buy something at an unknown price? that's what an exchange does. its a price-machine so to speak. I mean this design is like a car that doesn't drive. its completely absurd. at least they are not taking money for the dev upfront, so that's good. I don't think anyone has even come up with a solution for a simple Decentralized limit order book. Seems to me that a Decentralized exchange can be gamed with common latency arbitrage / high frequency market making techniques..
yes. people designing an exchange should know what they are talking about. none of this stuff works, for quite obvious reasons. limit order book is a central datastructure like the blockchain. if you think about it bitcoin is de-central and central at the same time. blockchain is the ultimate central datastructure. I haven't studied NXT at all, only looked the source code for 5 seconds. all current projects MSC, NXT, eth, have not considered much what an exchange is, in terms of price discovery and settlement. What do you mean it doesn't have prices in the orders? http://blockscan.com/order.aspx
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Has anyone checked out this decentralized exchange protocol built on the Bitcoin blockchain yet? Here's the Counterparty block explorer with a list of the assets created so far: http://blockscan.com/asset.aspxThe Counterparty protocol supports dividend payments too. It would be awesome to see a company like Asicminer float an asset on Counterparty's decentralized exchange. Might solve problems with centralized exchanges like btct.co or bitfunder.com. Depends who's running it, how it works, how much control the asset issuer has, what happens if it disappears one day etc. Do you have any personal experience with it? The exchange itself is a decentralized protocol built on the Bitcoin blockchain, so nobody has to run it. I don't think Counterparty can disappear as long as the Bitcoin Blockchain doesn't disappear. I'm synching up my bitcoin-qt blockchain right now, installing the Counterparty client and testing its features. There have already been a few decentralized, trustless trades of BTC and XCP completed: http://blockscan.com/order.aspx?p=0You still have to trust the asset issuer, just not the exchange itself. It would be awesome if Asicminer transfered over to a Counterparty. It would solve so many headaches like dealing with direct share transfers or unreliable centralized exchanges. EDIT: BitThink summed it up better than I did^^
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Has anyone checked out this decentralized exchange protocol built on the Bitcoin blockchain yet? Here's the Counterparty block explorer with a list of the assets created so far: http://blockscan.com/asset.aspxThe Counterparty protocol supports dividend payments too. It would be awesome to see a company like Asicminer float an asset on Counterparty's decentralized exchange. Might solve problems with centralized exchanges like btct.co or bitfunder.com.
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Check out this sweet decentralized exchange protocol, Counterparty: https://bitcointalk.org/index.php?topic=395761.0You can trade Counterparty (XCP) for BTC or other assets completely decentralized and trust-free. You can also issue dividends, and place bets on things like sporting events.
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I'm kind of surprised at the low trading activity so far. Only 800 XCP traded in 4 transactions on the google doc, and only 11 XCP traded in 2 transactions on the Counterparty distributed exchange.
I've got 800 XCP available for 8 btc.
I'm working on putting these XCP on the distributed exchange now. I'm also willing to trade directly for btc in small increments.
All you need to receive the XCP is a Bitcoin address. No need to install client or anything. You can create a blockchain.info wallet and receive XCP on that address.
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10 minutes after closing people want 10-15x haha... ponzi scheme much . Crypto is freaking crazy, just don't want to be left holding the worthless currency. The price of .001 BTC/XCP at the very end of burn put the market cap at 2648 BTC This put Counterparty at #25 on http://coinmarketcap.com/2648 BTC market cap is way too low for a protocol with the first functioning distributed exchange. 2648 BTC market cap was below much less innovative coins such as Kittehcoin or Tickets. It was obvious that there was nowhere for the price to go but up 2x, 4x, etc. I'm regretting being conservative and only burning less than 10btc. 2 weeks into the burn, I was estimating that we would see at least 5000 btc burnt. The total amount burned (2124 BTC) wound up being much lower than I expected.
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Getting offers
Will buy 2000 XCP for best offer
fast transaction from trusted trader
100btc ambitious I'll sell you 800 XCP for 8 BTC I'm willing to use escrow or do smaller increments to build some trust at first.
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If GET_QUANTITY is the quantity of GET_ASSET you would like to receive
Shouldn't GET_ASSET be the asset you would like to receive (buy)?
That's correct. It looks like the words "buy" and "sell" are mixed up in the help code you provided then. I made the changes in red: optional arguments: -h, --help show this help message and exit --from SOURCE the source address --get-quantity GET_QUANTITY the quantity of GET_ASSET that you would like to receive --get-asset GET_ASSET the asset that you would like to sell buy --give-quantity GIVE_QUANTITY the quantity of GIVE_ASSET that you are willing to give --give-asset GIVE_ASSET the asset that you would like to buy sell --expiration EXPIRATION the number of blocks for which the order should be valid --fee_required FEE_REQUIRED the miners' fee required to be paid by orders for them to match this one; in BTC; required iff buying BTC (may be zero, though) --fee_provided FEE_PROVIDED the miners' fee provided; in BTC; required iff selling BTC (should not be lower than is required for acceptance in a block) $
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Install bitcoin, install the counterparty client, place an order:
C:\counterpartyd>python counterpartyd.py order usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY --get-asset GET_ASSET --give-quantity GIVE_QUANTITY --give-asset GIVE_ASSET --expiration EXPIRATION [--fee_required FEE_REQUIRED] [--fee_provided FEE_PROVIDED]
GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.
Submit, and wait for an order match. Then use btcpay to pay for the order.
There, completely trustless and decentralized.
So if I want to sell 800 XCP for 8 BTC I would place the following order: C:\counterpartyd>python counterpartyd.py order usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY --get-asset GET_ASSET --give-quantity GIVE_QUANTITY --give-asset GIVE_ASSET --expiration EXPIRATION [--fee_required FEE_REQUIRED] [--fee_provided FEE_PROVIDED] GET_QUANTITY is 8 GET_ASSET is BTC GIVE_QUANTITY is 800 GIVE_ASSET is XCP EXPIRATION is the actual block number I want it to expire at? example: 283905 What do I input for SOURCE, FEE_REQUIRED, AND FEE_PROVIDED? $ counterpartyd.py order --help usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY --get-asset GET_ASSET --give-quantity GIVE_QUANTITY --give-asset GIVE_ASSET --expiration EXPIRATION [--fee_required FEE_REQUIRED] [--fee_provided FEE_PROVIDED]
optional arguments: -h, --help show this help message and exit --from SOURCE the source address --get-quantity GET_QUANTITY the quantity of GET_ASSET that you would like to receive --get-asset GET_ASSET the asset that you would like to sell --give-quantity GIVE_QUANTITY the quantity of GIVE_ASSET that you are willing to give --give-asset GIVE_ASSET the asset that you would like to buy --expiration EXPIRATION the number of blocks for which the order should be valid --fee_required FEE_REQUIRED the miners' fee required to be paid by orders for them to match this one; in BTC; required iff buying BTC (may be zero, though) --fee_provided FEE_PROVIDED the miners' fee provided; in BTC; required iff selling BTC (should not be lower than is required for acceptance in a block) $
If GET_QUANTITY is the quantity of GET_ASSET you would like to receive Shouldn't GET_ASSET be the asset you would like to receive (buy)? It looks to me like the words "buy" and "sell" are mixed up in the above code.
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Install bitcoin, install the counterparty client, place an order:
C:\counterpartyd>python counterpartyd.py order usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY --get-asset GET_ASSET --give-quantity GIVE_QUANTITY --give-asset GIVE_ASSET --expiration EXPIRATION [--fee_required FEE_REQUIRED] [--fee_provided FEE_PROVIDED]
GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.
Submit, and wait for an order match. Then use btcpay to pay for the order.
There, completely trustless and decentralized.
So if I want to sell 800 XCP for 8 BTC I would place the following order: C:\counterpartyd>python counterpartyd.py order usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY --get-asset GET_ASSET --give-quantity GIVE_QUANTITY --give-asset GIVE_ASSET --expiration EXPIRATION [--fee_required FEE_REQUIRED] [--fee_provided FEE_PROVIDED] GET_QUANTITY is 8 GET_ASSET is BTC GIVE_QUANTITY is 800 GIVE_ASSET is XCP EXPIRATION is the actual block number I want it to expire at? example: 283905 What do I input for SOURCE, FEE_REQUIRED, AND FEE_PROVIDED?
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Just a warning to buyers: XCP burners (basically early adopters) have formed a cartel (chk xcp thread) and jacked up the price artificially by 10x-15x times. Please don't accept these prices as the coin is still a prototype and isn't worth that much yet. They are a greedy cartel
Sadly, yes, this is what appears to be happening, I like the idea behind Counterparty and was initially interested, until i did a quick workout of the maths and you're right, most burners got between 1000-1500 XCP per 1 BTC and are immediately looking to turn that round to selling you 100XCP per 1 BTC. I can understand a markup being added but not a 10-15x markup of their brand new XCP, looking to offload immediately making a massive profit. Please convince me otherwise. It's impossible to form a cartel when 500+ people invested in XCP. If .01 BTC/XCP is above market price, someone out of the 500+ people will undercut that price. .01 BTC/XCP puts Counterparty market cap at 26,487 BTC This is half the market cap of Mastercoin. This puts Counterparty as the #10 crypto on http://coinmarketcap.com/Right above ProtoShares and right below Quark. This seems like a fair valuation given that Counterparty is the first crypto to implement a distributed exchange.
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