Here's my (kind of obvious, I'd say) explanation for why Monero goes through these pump and dump cycles. If the price begins to go up, mining becomes more profitable. Botnets or other big miners move in. They dump when the price is high, thus the price falls until the cycle repeats.
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Obviously :
SELL DRK
BUY XMR
Why buy something that won't even be usable for 1-2 years or more? Darkcoin will be ready for real world use in less than a month. All CN coins will remain purely speculative for that time frame, whereas people have already started using Darkcoin for commerce. I loled pretty hard. Darkcoin's name and 50% instamin by it's own development team ensures it will never be used for commerce, by companies, by regular folk or anything even remotely related.Except that it's already being used for commerce by regular folks right now. If you look through the Darkcoin reddit, you'll see examples of businesses that accept it. I believe there's a jerky store and a wine shop, as well as others. There goes your narrative.
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My question is, why would they make so massive a screw up? They could have done at least a token announcement somewhere and then no one could yell "premine!". It wouldn't have affected the number of coins they got by much, there weren't nearly as many people into crypto around 2 years ago.
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Why do these guys feel the need to issue 500 different cryptoassets? Bitshares, Bitshares-X, Bitshares PTS, AGS, I mean for fucks sake.
ROFL. What a complex and wonderful question. The basic problem is that due to innovation chains need to be separate. If they were all the same chain it ends up like Bitcoin or Mastercoin/XCP. The blockchain is seen as a metaphor to a company, so these are all individual companies that you can invest in. Protoshares allows you to have a stake in any future DAC (Where the DAC honors the social consensus.) AGS was a way for them to do crowdfunding. You keep your private key to redeem stakes going forward. Bitshares X is the first and most ambitious product. Unfortunately the genesis block was already been decided, but shares will be on the open market soon enough. Bitshares X has market pegging of assets using something akin to a prediction market. Next we will see p2p that implements namecoin. THere is no crypto asset named Bitshares. Thats pretty much just the term to refer to the ecosystem as a whole, which will be based off the bitshares toolkit and completely open source. The point here is every asset has its own function like a company. If they were all on the blockchain nothing would ever get done because of competing requirements. Also, it would never work with the distribution of shares. This lets entrepreneurs innovate just like a real company. I was under the impression that an investment in AGS would get you a stake in all DACs. Either way, it's not a well thought out way of doing things. I think I put .25BTC into AGS a while back, let's see what happens.
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Their anon is working atm through exchanges, the PoSA release is in the next few days AFAIK. That's the real game changer.
Is it just me or are people throwing around the term "game changer" far too liberally these days? well, i read what deepweb wrote, and basically its the same way darkcoin works, so far i have not seen the specific need for a larger amount in those nodes, so im guessing it would be easier doing an attack on the system by running alot of nodes Seems to me it just makes it easier to run Sybil attacks.
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Why do these guys feel the need to issue 500 different cryptoassets? Bitshares, Bitshares-X, Bitshares PTS, AGS, I mean for fucks sake.
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Their anon is working atm through exchanges, the PoSA release is in the next few days AFAIK. That's the real game changer.
Is it just me or are people throwing around the term "game changer" far too liberally these days? I guess its means "I dumped DRK when I should have HODL" These guys crack me up. No patience, so they dump for shitcoins. The only legitimate anon coins other than Dark use CN technology. However, IMO the downsides outweigh the resultant (and marginal) anonymity improvement.
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No matter who wins the CN wars, laughing at the losers will be fun.
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any guesses when the node payments will be 100% It's already around 96%. 100% will come with RC4.
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In particular The other attacks you describe all derive from the fundamental reason I declared all non-proof-of-work systems to be insecure back in April.
My logic was mathematically fundamental. The input entropy set is quite deterministic and well known and thus can be preimaged. For example, accumulating a lot of coin-days-destroyed and then targeting them in clever ways to subvert the security.
The randomness (entropy) of each proof-of-work is fundamental and mathematical and it can not be preimaged. It can only be surely defeated with > 50% of the network hash rate. Note I recently offered what I believe to a solution to the selfish-mining attack (the one at hackingdistributed.com that claims 25 - 35% attack).
I am skeptical that you can characterize all possible attack vectors of proof-of-stake in one coherent mathematical proof. Thus you will not know formally what the security is; instead a list of adhoc attacks and counter-measures.
Nevertheless I am not bagging on Peercoin. Everyone should be free to decide for themselves which coin they prefer. Perhaps there are unknown attacks on Bitcoin as well, yet I am somewhat comforted by the clear math for security of proof-of-work. I will not say I will never be convinced to support a non-proof-of-work coin, I will correct myself if someone explains such a system convincingly. It is on my TODO list to study more Peercoin.
Edit: Perhaps coin-days-destroyed in some attack vectors motivates not transacting for long periods of time.
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PoS is garbage. The only reason for its existence is to separate fools from their money.
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Is the Zerocoin implementation going to be trustless? As I understand it, there's a key that needs to be destroyed. If that can't be overcome, this coin has no future.
You just shook my knowledge and belief, right now selling all of the ANC, and you set buy order, then I will buy DRK, total anonymity with only 2 millions premined https://bitcointalk.org/index.php?topic=560138.700Instead of being a moron, can you just answer my question?
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Can anyone explain how the anonymity being offered (PoSA) works?
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I find it interesting that Dev Promises get the front page while tangible action for 5 months didn't... Promises can only support a thing for so long. When Evan delivers results, and the others more promises, there's only one possible outcome.
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Is the Zerocoin implementation going to be trustless? As I understand it, there's a key that needs to be destroyed. If that can't be overcome, this coin has no future.
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The CryptoNote team is behind Bytecoin, right?
No. CryptoNote team has their own reference implementation named CryptoNoteCoin which is developed for education only. CryptoNote team said they did not join force with a development team that developed a premined coin for profit Hmm. Interesting. I would have thought that they would have been involved with Bytecoin since it was the first CN coin, right? They did all that work inventing this novel technology and haven't made any obvious attempt to gain from it yet? Such altruists.
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Remember that there's still a thing or two that Evan has up his sleeve. Due to be announced sometime soon If such an announcement comes soon we could see a nice run.
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Finally, we have some movement!
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Obviously :
SELL DRK
BUY XMR
Why buy something that won't even be usable for 1-2 years or more? Darkcoin will be ready for real world use in less than a month. All CN coins will remain purely speculative for that time frame, whereas people have already started using Darkcoin for commerce.
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