[ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency

[Jestah]

The scam group (www.darkcoin.company) have been caught.
title said they scamed 1.5 billion within 8 months

Great! Hope the dash wallet fraud is next.

1.5 billion....? I am clearly in the wrong business.

[G.avinMcInnes]

The scam group (www. darkcoin.company) have been caught.
title said they scamed 1.5 billion within 8 months

http://m.baidu.com/news?ssid=0&bd_page_type=1&uid=0&src=http://www.js.chinanews.com/news/2016/0317/151020.html&fr=ald02&tn=bdbody&from=1086k&query=暗黑币传销组织公开开审&baiduid=C462607FCE40C05C04E33D04840F1A42&pu=usm@0,sz@1320_2002,ta@iphone_1_8.2_2_6.4&tj=rt_normal_1_0_10

this is HUGE !!
Tx to the efforts of the Chinese community !!
Alexy Raico Heisenberg @..... (Sister in cyber department) +fernando
 

https://i.imgur.com/cJcnKqN.jpg
https://dashpay.cn/利用暗黑币组织传销8个月敛财15亿-徐州开审大咖/

So does this mean we can file a class action lawsuit for that 1.5 BILLION???

I mean, those people were going to send that to our network. Give it to the Foundation I say.

That said, this is ridiculous, what am I to make of this story? Google Translate is horrible, and the website is down. What should I think about this 

[toknormal]

Ethereum price going all wonky.

More free-floating BTC capital prised out of tight fists.

[tungfa]

The scam group (www. darkcoin.company) have been caught.
title said they scamed 1.5 billion within 8 months

http://m.baidu.com/news?ssid=0&bd_page_type=1&uid=0&src=http://www.js.chinanews.com/news/2016/0317/151020.html&fr=ald02&tn=bdbody&from=1086k&query=暗黑币传销组织公开开审&baiduid=C462607FCE40C05C04E33D04840F1A42&pu=usm@0,sz@1320_2002,ta@iphone_1_8.2_2_6.4&tj=rt_normal_1_0_10

this is HUGE !!
Tx to the efforts of the Chinese community !!
Alexy Raico Heisenberg @..... (Sister in cyber department) +fernando
 

https://dashpay.cn/利用暗黑币组织传销8个月敛财15亿-徐州开审大咖/

So does this mean we can file a class action lawsuit for that 1.5 BILLION???

I mean, those people were going to send that to our network. Give it to the Foundation I say.

That said, this is ridiculous, what am I to make of this story? Google Translate is horrible, and the website is down. What should I think about this  

Here is some press we used to create awareness about darkcoin .company last year :
http://www.scmp.com/lifestyle/technology/e-commerce/article/1754263/hong-kong-cryptocurrency-operators-warn-against-fake
(biggest HK English Newspaper)
http://www.8btc.com/fake-darkcoin-fraud

edit:
fixed link

[G.avinMcInnes]

Ethereum price going all wonky.

More free-floating BTC capital prised out of tight fists.

https://i.imgur.com/0AFedBZ.png

Where is the next support level? I don't see one. This might be it for ETH 0.0-anything range.

[ddink7]

Ethereum price going all wonky.

More free-floating BTC capital prised out of tight fists.

Where is the next support level? I don't see one. This might be it for ETH 0.0-anything range.

Will almost certainly drastically over-correct (as did Dash after our ATH)...looking forward to hopefully buying some at a very undervalued price.

[G.avinMcInnes]

Thanks for the context!

[toknormal]

Where is the next support level? I don't see one. This might be it for ETH 0.0-anything range.

0.015. It's blown through all the rest.

Of course 0.02 is psychological (and there are probably a ton of stop losses there) but it didn't really take a rest there significantly on the way up. I'm wiping the sweat of my brow right now. Felt the earth juddering just b4 I went to bed last night and dumped everything at 31.

There'll be a rebound at some point but I think I'll just go to the park as bungee jumping's not my favourite sport  

Now you can see the whale manipulation going on over there - someone just placed a quarter million dollar buywall. It started getting trashed so they upped the stakes to near half a million dollars. That did the trick and now the shorts are getting liquidated. Bounce coming then the same again at the top in reverse.

EDIT: Wall now pulled I think. Some people are getting totally stripped of their BTC that took them years to accumulate.

[aigeezer]

Imagine two of us live on an Island and we have complimentary skills so we work for each other. I build you a house and you feed me. We make notch marks on a tree every day to measure how much work we do so that we can have a civilised way to give each other days off, allow for illness, and generally liberate us from both having to work at the same time all the time.

I hope toknormal will forgive my using his example to make an unrelated point about fiat-world. Since the thread theme recently drifted into scam-related issues, I just can't help myself. You may know this stuff already - most people don't. I owe my awareness of it to essays from Bill Bonner that changed my worldview dramatically over time. Here goes.

Unlike Tok's example, each person (the builder and the feeder) might pay each other in fiat rather than making notches on trees to keep score. That is our everyday reality in dirtspace but with many millions of us interacting it is harder to follow the flow of things than with a two-person contrived example. Continuing, now with two people exchanging goods and services and paying each other with fiat in a closed loop -

 - but there is a third presence in the loop, namely the taxman, who takes (say) a third of the fiat from each person as it is received (income tax) and another 15% (say) as it is paid out (Goods and Services tax, under various names in various countries). Details vary, but there is, in short, a massive overhead on the transactions. Furthermore, in this heavily taxed closed loop model, the economy would be described as "strong", with "full employment", and the transactions would be recorded as contributing to "GDP".

Consider instead an example in which the same two people do not exchange goods and services. Each looks after his/her own food and shelter. No fiat changes hands. Nobody has "a job", yet the net production is the same as in the first example. In this model, the tax overhead vanishes, but the economy would be described as "weak", with "massive unemployment", and the food and shelters produced would not be counted in "GDP".

Weird stuff! How can producing exactly the same outputs lead to such drastically different outcomes? How can the mere use of fiat divert so much wealth away from producers/consumers? How can GDP vary so drastically when actual productivity goes unchanged?

This leads me to:

1. When those who prosper on the quirks of the fiat model notice DASH, what will they do?
2. How will DASH (the code, not the people) continue to defend itself as the intensity builds?

DASH is the ultimate scam-buster (so far) imho. Rough ride ahead.

Oh - if this kind of topic interests you and you have not encountered it before, search "Bastiat's broken window fallacy" as an entry point to a different way of looking at economic issues. Teaser: government spending is included in GDP totals.         
 

[G.avinMcInnes]

Ethereum price going all wonky.

More free-floating BTC capital prised out of tight fists.

https://i.imgur.com/0AFedBZ.png

Where is the next support level? I don't see one. This might be it for ETH 0.0-anything range.

Will almost certainly drastically over-correct (as did Dash after our ATH)...looking forward to hopefully buying some at a very undervalued price.

I don't know. This rise may be the highest ETH ever gets.

https://etherscan.io/stats/supply

 ETHER DISTRIBUTION OVERVIEW
Genisis (60M Crowdsale+12M Other):   72,009,990.50 Ether
+ Mining Block Rewards:   5,862,265.00 Ether
+ Mining Uncle Rewards:   327,230.00 Ether
= Current Total Supply
78,199,485.50 Ether

So basically, ETH has 5000 blocks a day, at 5 ETH per block.

25,411 ETH mined per day. AT 0.02 that's $210,000approx per day in mining.

Did you know at that rate total supply will double in 12 months?

[G.avinMcInnes]

Your whole point.

DASH can be copied. We, or someone like us can try again. Not only that, but modifications, whether we make them or others make them, are now possible.

The "authorities" throughout history have resisted change and challenges to their leadership. Corporatism was a small stepping stone to pure Entrepreneurialism, which will be paved through decentralization of all commodities.

This will enable a whole hosts of inventions, and we may even solve the economic calculation problem as a species due to it. That said, insert spooky dystopian counter arguments where the tech works against human liberty and happiness.

But I doubt it. Even those in charge have kids and want freedom. It's just most are blinded by Malthusianism and a sense that we need to control and limit things rather than open and explore things.

[toknormal]

Did you know at that rate total supply will double in 12 months?

I don't think thats right. About 25% inflation in 12 months. (P.S. These posts will get deleted for "off topic"    )

[pbleak]

Ethereum price going all wonky.

More free-floating BTC capital prised out of tight fists.

Where is the next support level? I don't see one. This might be it for ETH 0.0-anything range.

Drastic freefall. It's going off the charts...in the wrong way.

[ddink7]

Where is the next support level? I don't see one. This might be it for ETH 0.0-anything range.

0.015. It's blown through all the rest.

Of course 0.02 is psychological (and there are probably a ton of stop losses there) but it didn't really take a rest there significantly on the way up. I'm wiping the sweat of my brow right now. Felt the earth juddering just b4 I went to bed last night and dumped everything at 31.

There'll be a rebound at some point but I think I'll just go to the park as bungee jumping's not my favourite sport  

Now you can see the whale manipulation going on over there - someone just placed a quarter million dollar buywall. It started getting trashed so they upped the stakes to near half a million dollars. That did the trick and now the shorts are getting liquidated. Bounce coming then the same again at the top in reverse.

EDIT: Wall now pulled I think. Some people are getting totally stripped of their BTC that took them years to accumulate.

This is why I don't feel quite as bad about missing out on the ETH rise. Without the experience I've had watching the markets for this long, I'd probably still be HODLING as the markets entered freefall.

We are seeing the exact same thing over and over and over again. Everytime a coin massively spikes, everybody always says "this time is different." /r/ethtrader and polo trollbox has all these people saying "You'll be sorry if you sell now" or "You'll be sorry if you short now."

I guess it's human nature to think that this time will be different. Look at all the "real world" economic crises we've seen. It's just extraordinary.

It will be very interesting to see if/how much of the newly cashed out BTC look to Dash for a home...

EDIT:

aliensyntax 7 points an hour ago

There is no negative news to drive the price further down. The fundamentals are too strong. There is too much momentum and network effect behind the system. There is more good news coming out on a daily basis. New projects are being rolled out in multiple industries. The people invested in this technology, the ones driving its adoption, are not only true believers, they're financially secure and capable investors. They'll keep the market up regardless of price fluctuations. And so on ad infinitum.

How many times have we seen this sentiment? With everything from Aurora to Blackcoin to Paycoin and yes, even to Darkcoin during our crazy rise/fall in Summer 2014.

[–]
AnythingForSuccess 2 points 53 minutes ago

Not shitting in the slightest. Fundamentals are solid.

    permalinkparent

[–]
BGoodej 1 point 25 minutes ago

I think it's more like that:
Real bag holders did not lose a cent yet, they're probably buying the dip. Some day traders are laughing, but most are crying over their realized losses. Panic sellers will be crying soon after the rebound.

[aigeezer]

DASH can be copied. We, or someone like us can try again. Not only that, but modifications, whether we make them or others make them, are now possible.

That is my view when I am feeling optimistic. At other times, I feel the race will be very close and the outcome is uncertain. My chronic theme is that underestimating the strength/power of future pushback is dangerous, and that future-proofing is wise.

I was elated to see you are thinking of setting up a decentralized exchange. I've followed the progress of, say, B&C, but my perception is that they have become semi-centralized as they progress from vision to reality. Any interface with fiat will always be a choke-point, imho. I hope you solve it.

[Cryptorials]

I was elated to see you are thinking of setting up a decentralized exchange. I've followed the progress of, say, B&C, but my perception is that they have become semi-centralized as they progress from vision to reality. Any interface with fiat will always be a choke-point, imho. I hope you solve it.

I think all 'decentralized exchanges' so far, and there are quite a few of them now, are semi-centralized - even where they use only crypto let alone with fiat.

A truly decentralized exchange between crytocurrencies would be too slow and probably too expensive in fees to be particularly useful for most people even if atomic cross chain transfer tech was built, so its a tough problem.

I also really hope a good solution can be worked out for this.

[stan.distortion]

I was elated to see you are thinking of setting up a decentralized exchange. I've followed the progress of, say, B&C, but my perception is that they have become semi-centralized as they progress from vision to reality. Any interface with fiat will always be a choke-point, imho. I hope you solve it.

I think all 'decentralized exchanges' so far, and there are quite a few of them now, are semi-centralized - even where they use only crypto let alone with fiat.

A truly decentralized exchange between crytocurrencies would be too slow and probably too expensive in fees to be particularly useful for most people even if atomic cross chain transfer tech was built, so its a tough problem.

I also really hope a good solution can be worked out for this.

Everything's there for them to get off the ground, touring complete languages for interoperability between chains have been around for a few years but they're getting a big boost at the mo. Maybe it's one of those things that'll take a long time to get off the ground but when it does it will change market dynamics in a huge way, there already seems to be a big change in market characteristics since shapeshift took off and the more that grows and advances the more crypto will make traditional markets seem archaic.

[Cryptorials]

Everything's there for them to get off the ground, touring complete languages for interoperability between chains have been around for a few years but they're getting a big boost at the mo.

Even ether-ex is semi-centralized, so I don't think the turing complete language is any use. To exchange actual coins on a decentralized exchange rather than tokens representing coins which some centralized entity holds means atomic cross chain transfers, it means paying transaction fees on those blockchains, it means waiting for the usual confirmation times of those blockchains on each trade , possibly even having open wallets for every coin you want to trade. Its difficult to go from the current semi-centralized model to a fully decentralized exchange.

I'm not sure how you get around those problems, but of course that doesn't mean that there isn't a way to do it.

[stan.distortion]

The languages can do it at the user level with interoperability between clients, the scripts as messages embedded in a chains transactions that depend on actions in other chains, smart automated cross chain transactions. They're a bit too big to simply be included as messages in regular transactions though, they can work as a separate communication layer with just the hash of the script in the transactions to secure and validate and that's likely the only way they'll gain ground for the time being.

Really looking forward to seeing that change, I only really see it from the point of view of stability, any spike in one pair would quickly be absorbed through every other pair so the entirety of crypto effectively becomes one huge reserve but I'm sure folks more familiar with trading could see a multitude of other possibilities from it.

[toknormal]

Everything's there for them to get off the ground, touring complete languages for interoperability between chains have been around for a few years but they're getting a big boost at the mo. Maybe it's one of those things that'll take a long time to get off the ground but when it does it will change market dynamics in a huge way

I've always thought Dash could use the Daps layer of the Ethereum blockchain to its huge advantage.

For example some of the more "accessibility" oriented features of Evolution are good when compared to a simple wallet, but we may be about to see a much more general approach emerge that will offer equivalent and potentially fuller features and that cover all electronic assets. (It happened in the 1990s with websites. People would spend 10k on a custom website, then wordpress came along and blew them away for $15 a pop. Other examples include, what booking.com does for Hotels, Google shopping feed does for retailers etc).

Those Dash bond ideas I posted on the previous page may also be perfect smart contract candidates denominated in Dash and collateralised natively on the Dash blockchain. We must think constructively and use everything available IMO.

The reason thats a good match is because Dash is a monetary token and Ethereum is a blockchain applications platform thats specifically designed to securely manage assets that are not Ethereum itself. The distinction was well made by Vlad Zamfir in this interview with the Daily Decrypt. At that point she pushes him on the "emission policy" and he gets a bit evasive, pointing out that she's asking about Ethereum's "monetary properties" which are not yet decided. He says he's more worried about securing transaction receipts.

He almost dismisses it as unimportant because he knows that being a monetary token is not Ethereum's priority. It's technical priority is to act as an "OS" for blockchain based smart contract apps. That is a very telling moment and is totally consistent with what he says and what he says.

(b.t.w. his mum told him to tidy his room before that interview but he only got as far as hiding his underpants   ).