[ANN][DCR] Decred - Community Governance | Bitcoin Devs | Lightning Network

[Gillette]

Is Decred online wallet secure? Any feedback?

Let me quote from the FAQ section in dcrdocs, which is currently being completed as part of RFP-4:

The web client is a fork of Copay, so it is as secure as that. The seed (and hence private keys) are kept and computed locally in your browser's local storage and everything is run client-side. The server never has access to any of the private data needed to spend coins.

That means it's not an account service, so it basically uses your browser to act as a GUI.

Ok. Another question is if Decred guarantee 100% anonymity with its Schnorr signatures?

[1714291889]

1714291889

[1714291889]

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[Gillette]

That said, I do have some ideas on how to commercilalize Decred blockchain but it would need to become permissioned one, it would have to let go the currency altogether and do some heavy very specialized development for our industry needs. I'm not even going to ask Decred developers if they are interested cause obviously the answer is going to be no.

It` clear that there is no biz plan for Decred. Do you have one to offer? Or do you have any ideas?

[myagui]

I appreciated this response to this question. I have been researching Decred and trying to understand what makes it unique and why I might want to invest in it. You've done a nice job in this response of making a case for what makes Decred special.

Thank you! 

You could read Morgan Stanley predictions on the future of blockchain which I referenced above in my earlier posts. I totally understand where they are coming from as I deal with this stuff daily. I'm in charge of foreign business development for the largest money transfer company in Europe and third largest in the world with 20 billion USD turnover. The regulation is so heavy that its a real obstacle to our work and NOTHING is going to change that. If we move even 1% of our operations to blockhain not asking the regulator we are going be closed tomorrow.

Quoting a 3rd party prediction does not magically turn said prediction into substantive evidence, in fact, dare I say, it simply remains a prediction. Again, I'll appreciate any information facilitating my eventual possession of a crystal ball. 

That said, I do have some ideas on how to commercilalize Decred blockchain but it would need to become permissioned one, it would have to let go the currency altogether and do some heavy very specialized development for our industry needs. I'm not even going to ask Decred developers if they are interested cause obviously the answer is going to be no.

I'm starting to regret that I even entertained your prior posts, anyhow, here's my final go at it:
The depth of change that you just described, as well as casually tying to a business case within the operations of a company with a 20 billion USD turnover, largely suggests that said company should hire a blockchain specialist. This is (proudly?) an open source project. You can easily fork it, modify as necessary for private or permissioned usage, and get your business party going.
Certainly the largest money transfer company in Europe can afford a little blockchain R&D in its budget... 

Apologies in advance, but this was the last that I engaged on this particular discussion.
Cheers!

[freeapp]

wow 10th/s network hashrate..

[Patrice7]

That said, I do have some ideas on how to commercilalize Decred blockchain but it would need to become permissioned one, it would have to let go the currency altogether and do some heavy very specialized development for our industry needs. I'm not even going to ask Decred developers if they are interested cause obviously the answer is going to be no.

I have to agree with myagui on this one. It wouldn't be difficult to hire your own blockchain specialist.  The real question I have would be why?  

From your statements it sounds like you want a private blockchain in addition to a permissioned one. What would a blockchain do for your industry that a database doesn't? Unless it is going to interact with another public chain such as bitcoin, decred, or even ethereum.

[1337leet]

@Wolf0 any news regarding the cgminer-update?

[coralreefer]

wow 10th/s network hashrate..

Seems like there is quite a bit of interest in DCR...hashrate keeps climbing.

[danielj314]

Anyone have an ELI5 for the first post?

Decred is an early-stage project that is attempting to build a principled platform for blockchain and project governance. Blockchain governance is a complex topic, but in simple terms, Decred will give its users representation in the determination of where the blockchain goes by voting on blocks to achieve social consensus about its future. It is early-stage because right now the software is mostly accessible to users comfortable with a command-line interface, users are still getting to know the concepts, developers are still improving the software on a daily basis, and the necessary infrastructure is still being put in place so voting is accessible to all users.

Project governance, however, is a concept that has been explored more thoroughly. Decred is backed by a group of developers responsible for btcsuite - a suite of packages and tools for working with Bitcoin in Go (Golang) including btcd, a full node, mining-capable, Bitcoin implementation. Decred is also self-funding, which means users and miners can have confidence in the notion that development is active and will remain active. In short, developers maintain and improve Decred, but ultimately it will be up to the collective that has formed in Decred to use its features to decide where it goes - even things like smart contracts are quite easily done in Decred, but right now it's about focusing on the fundamentals so that everyone with interest may have accessible representation and a say in Decred.

Thank you for this excellent explanation of Decred. I continue to do research and find these kinds of explanations to be very helpful.  They build my confidence in the project.

[jwinterm]

wow 10th/s network hashrate..

Seems like there is quite a bit of interest in DCR...hashrate keeps climbing.

It's almost the most profitable coin to mine, and now that there is the dualminer with ETH, which is the most profitable coin to mine, it makes sense that hashrate would rise. I wouldn't necessarily expect price to rise though, more likely to drop as farms and stuff dual-mine and dump.

[1337leet]

wow 10th/s network hashrate..

Seems like there is quite a bit of interest in DCR...hashrate keeps climbing.

It's almost the most profitable coin to mine, and now that there is the dualminer with ETH, which is the most profitable coin to mine, it makes sense that hashrate would rise. I wouldn't necessarily expect price to rise though, more likely to drop as farms and stuff dual-mine and dump.

At this price and that diff. it isn't even capable of covering the energy bill.

I got 5 GH/s at 1.000 Watt.

1 KW = 0,24€

1*24*30*0,24 = 172,80€ Energy costs

Outcome = 2,5 DCR / day

2,5*30*0,0035 = 0,2625 BTC / month

1 BTC = 400€

400*0,2625 = 105 € revenue


172,80 - 105 = 67,80€ loss / month

[jwinterm]

Well you do live in Europe and pay a metric shit ton for electricity. I live in California, which is quite expensive for electricity in the US, and I pay a bit more than half that rate.

[gtzanap]

At this price and that diff. it isn't even capable of covering the energy bill.

I got 5 GH/s at 1.000 Watt.

What do you mine with? 200W per Gh sounds like too much. What card and hashrate? Maybe you can play around with intensity and settings and get only slightly lower hash rate at significantly lower power consumption.

But at that price of electricity there is probably no way you make a real profit. And I thought my 0.15/KW euro was expensive

[restless]

lower memorz clock to min, Decred is not taxing memorz, hence the dual miner from Claymore - memory intensive algo + one that is using cache-only

[Gillette]

Is Decred online wallet secure? Any feedback?

Let me quote from the FAQ section in dcrdocs, which is currently being completed as part of RFP-4:

The web client is a fork of Copay, so it is as secure as that. The seed (and hence private keys) are kept and computed locally in your browser's local storage and everything is run client-side. The server never has access to any of the private data needed to spend coins.

That means it's not an account service, so it basically uses your browser to act as a GUI.

Ok. Another question is if Decred guarantee 100% anonymity with its Schnorr signatures?

Nobody can answer???

[jelin1984]

Why not wait price ticket go down

Will have your Dcr locked for 40 days for nothing final

[Praxis]

Smart contracts on decred? That's an amazing news!

Well look at Counterparty, it does smart contracts on the Bitcoin blockchain, so naturally it can be done on Decred, too.
http://www.helenabitcoinmining.com/2016/03/17/counterparty-brings-ethereum-smart-contracts-to-bitcoin-blockchain/

[ed101]

Anyone have an ELI5 for the first post?

Decred is an early-stage project that is attempting to build a principled platform for blockchain and project governance. Blockchain governance is a complex topic, but in simple terms, Decred will give its users representation in the determination of where the blockchain goes by voting on blocks to achieve social consensus about its future. It is early-stage because right now the software is mostly accessible to users comfortable with a command-line interface, users are still getting to know the concepts, developers are still improving the software on a daily basis, and the necessary infrastructure is still being put in place so voting is accessible to all users.

Project governance, however, is a concept that has been explored more thoroughly. Decred is backed by a group of developers responsible for btcsuite - a suite of packages and tools for working with Bitcoin in Go (Golang) including btcd, a full node, mining-capable, Bitcoin implementation. Decred is also self-funding, which means users and miners can have confidence in the notion that development is active and will remain active. In short, developers maintain and improve Decred, but ultimately it will be up to the collective that has formed in Decred to use its features to decide where it goes - even things like smart contracts are quite easily done in Decred, but right now it's about focusing on the fundamentals so that everyone with interest may have accessible representation and a say in Decred.

Thank you.

[nrvasquez]

Once the DCR graphical wallet is out with POS voting, the price of DCR will skyrocket

[edmundduke]

Once the DCR graphical wallet is out with POS voting, the price of DCR will skyrocket

Highly unlikely. Anyone who is interested in it is already buying in or already has. I do not see any new blood coming in especially now that BTC itself is on the move and as a result alts will suffer as always and DCR is no exception.

[nrvasquez]

Once the DCR graphical wallet is out with POS voting, the price of DCR will skyrocket

Highly unlikely. Anyone who is interested in it is already buying in or already has. I do not see any new blood coming in especially now that BTC itself is on the move and as a result alts will suffer as always and DCR is no exception.

I could see that major exchanges like Coinbase, Bitstamp, Bitpay, CEX, Kraken, others will include DCR and ETH in new fiat markets.  This move will make DCR and ETH just a liquid as BTC. USD/DCR, CNY/DCR, and EUR/DCR markets and USD/ETH, CNY/ETH, and EUR/ETH markets.  I believe the total market cap of BTC+DCR+ETH=$100 BILLION USD plus is just a few years away. $5,800 USD/BTC, $150 USD/ETH, and $340 USD/DCR