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

[sangoku]

Beautiful indeed

Take a look at the one from Enzwell on darkcointalk (https://www.darkcointalk.org/threads/official-logo-vote.229/page-5#post-1866)

Yeaaaahhh +10000000000000

[coins101]

Is there a way to include an encrypted name and address field with a DarkSend transaction?

It may sound like a stupid question, but retail merchants are backing off from bitcoin because it is anonymous (I know it's not).  

So you can walk into a gun shop in the USA and pay cash for the biggest gun they sell. You could have just got that cash from selling crack at the local school gate.

Cash is not seen as a problem, provided you have some ID.

Try and buy M&Ms on Amazon with Bitcoin and there is no chance in hell. That is seen is an evil money laundering no-no.

Maybe what retailers might prefer is a Darkcoin payment that includes the name and address, which matches the name and address on their account. How about a name and address that cross-checks to voter registration or a driving licence.

Where is the risk to them at this point? The whole world can't see the transaction, but the merchant has an audit trail they can show the cops. Job done. Next merchant please sign here.................

As with DarkSend having an opt-out function, adding name and address fields can be an opt-in service - for those that were wondering which bit of anonymous I didn't get.

Let's patent that and give the royalties to the darkcoin holders.

That's in the works (a note field that gets encrypted as part of the transactio), also there shouldn't be any problem for a retailer to accept the coin, it's instant and there can be no chargebacks.  The rest is up to them to have a good interface that the purchaser can fill out with all the pertinent information.  And buyer beware.  There should be no reason in the world a merchant wouldn't accept crypto, other than the volatility of the prices.

Why would a merchant need any of that information?  If they're going to sent the item, then that's one thing, but why would they need to know anything else about me?  

I'm thinking more automated process for large merchants that do huge volume of transactions.

The process of checking needs to be automated, with as much effort put on the customer as possible. The use of credit cards is accepted because to get one you need to have gone through various hurdles. All the merchants need to worry about is checking the cards are not stolen and they contain sufficient funds.

Something like:

* user enters personal data at the merchants store front
* personal data goes through third party verification process that handles KYC (KYC gets updated by the customer every x period)
* user engages with merchant and provides data for shipping
* user pays
* merchant can automatically cross check someone has done KYC during the payment acceptance process
* Merchant can link transaction to KYC for reporting, if required.
* customer and merchant transact. Goods are dispatched.

The issue about anonymity for this type of opt-in facility is about public display of transactions on a block chain, not about total anonymity, i.e. compared to a normal credit card transaction, the only thing missing is an imprint of the transaction in the block chain that can be daisy-chained to other transactions. A similar relationship would exist with the merchant knowing who the customer is by reference to credit card data. Unlike credit cards, KYC type verification can be like a one time use password

There must be a way to facilitate third party data attachment for verification with Darkcoin being an enabling tool so it doesn't have to get involved with the verification process which means it remains decentralised.

[fishingisfun]

Is there a way to include an encrypted name and address field with a DarkSend transaction?

It may sound like a stupid question, but retail merchants are backing off from bitcoin because it is anonymous (I know it's not).  

So you can walk into a gun shop in the USA and pay cash for the biggest gun they sell. You could have just got that cash from selling crack at the local school gate.

Cash is not seen as a problem, provided you have some ID.

Try and buy M&Ms on Amazon with Bitcoin and there is no chance in hell. That is seen is an evil money laundering no-no.

Maybe what retailers might prefer is a Darkcoin payment that includes the name and address, which matches the name and address on their account. How about a name and address that cross-checks to voter registration or a driving licence.

Where is the risk to them at this point? The whole world can't see the transaction, but the merchant has an audit trail they can show the cops. Job done. Next merchant please sign here.................

As with DarkSend having an opt-out function, adding name and address fields can be an opt-in service - for those that were wondering which bit of anonymous I didn't get.

Let's patent that and give the royalties to the darkcoin holders.

That's in the works (a note field that gets encrypted as part of the transactio), also there shouldn't be any problem for a retailer to accept the coin, it's instant and there can be no chargebacks.  The rest is up to them to have a good interface that the purchaser can fill out with all the pertinent information.  And buyer beware.  There should be no reason in the world a merchant wouldn't accept crypto, other than the volatility of the prices.

Why would a merchant need any of that information?  If they're going to sent the item, then that's one thing, but why would they need to know anything else about me?  

I'm thinking more automated process for large merchants that do huge volume of transactions.

The process of checking needs to be automated, with as much effort put on the customer as possible. The use of credit cards is accepted because to get one you need to have gone through various hurdles. All the merchants need to worry about is checking the cards are not stolen and they contain sufficient funds.

Something like:

* user enters personal data at the merchants store front
* personal data goes through third party verification process that handles KYC (KYC gets updated by the customer every x period)
* user engages with merchant and provides data for shipping
* user pays
* merchant can automatically cross check someone has done KYC during the payment acceptance process
* Merchant can link transaction to KYC for reporting, if required.
* customer and merchant transact. Goods are dispatched.

The issue about anonymity for this type of opt-in facility is about public display of transactions on a block chain, not about total anonymity, i.e. compared to a normal credit card transaction, the only thing missing is an imprint of the transaction in the block chain that can be daisy-chained to other transactions. A similar relationship would exist with the merchant knowing who the customer is by reference to credit card data. Unlike credit cards, KYC type verification can be like a one time use password

There must be a way to facilitate third party data attachment for verification with Darkcoin being an enabling tool so it doesn't have to get involved with the verification process which means it remains decentralised.

I think you're on to something!

[SquaPac]

1. DarkGravityWave release
2. Mutlipool which pays out in Darkcoin
3. Come out of DarkSend beta
4. Hackfest to try and break Darksend (zerocash will probably lead the charge)
5. Dark Wallet to confirm they are officially giving up
6. GMaxwell to acknowledge DarkSend is looking pretty close to e-cash vs. Bitcoin
7. Satoshi to move some $100m of coins through DarkSend, maybe just $1 would do it
8. Media to go to town on rights and wrongs of DarkCoin, privacy, e-cash, etc.

Would it be possible to get a timeframe on some of the projects that are being worked on currently so the community can be more up to date and involved?

[coins101]

1. DarkGravityWave release
2. Mutlipool which pays out in Darkcoin
3. Come out of DarkSend beta
4. Hackfest to try and break Darksend (zerocash will probably lead the charge)
5. Dark Wallet to confirm they are officially giving up
6. GMaxwell to acknowledge DarkSend is looking pretty close to e-cash vs. Bitcoin
7. Satoshi to move some $100m of coins through DarkSend, maybe just $1 would do it
8. Media to go to town on rights and wrongs of DarkCoin, privacy, e-cash, etc.

Would it be possible to get a timeframe on some of the projects that are being worked on currently so the community can be more up to date and involved?

That's not an official workflow.

It was my first stab at what was needed to reach a valuation of $1bn by the end of this year.

Is there an estimated date on DarkSend being out of beta and a "finished" product?

So here's the plan for development:

1.) Beta V4, V5...  - Large changes that require everyone to upgrade to use DarkSend
2.) Beyond this point, DarkSend is ready for real use and will be available in binary form (closed source still)
3.) Release Candidates - RC1, RC2, etc - I'll be taking bug reports, but these are smaller changes and none of them should require everyone to update
4.) First stable release - I think this stage should also be closed source until we're sure everything is perfect
5.) Public audits, where the closed source is shared with someone who people trust to review DarkSend (I'm not sure who that would be yet)
6.) After all audits pass and we have a real product, opensource

Currently we're in Beta V3, I'm working on V4 right now. I'm fighting some bugs then I'll do another release

[coinzcoinzcoinz]

I have 50% of net worth in DRK, I'm wondering whether I should put in more.

[eizh]

I have 50% of net worth in DRK, I'm wondering whether I should put in more.

Um, I hope you're referring to crypto net worth alone. If that's the case, I'm at 90% and I'm not sweating it. Not much else interesting out there except other anonymous coins, and this is currently the least problematic one.

[coins101]

I have 50% of net worth in DRK, I'm wondering whether I should put in more.

2% of DRK, instead of 1%?

If you get a Rolls Royce, can I be your driver and use the car for personal use on Saturday's?

[eizh]

Regarding this multipool: will it actually help? I can see it working for a PoS or fully-mined coin but any diversion of hashrate from DRK means (1) more total DRK will be mined each day due to the block reward formula (2) a higher percentage will go to immediate dumpers because presumably the people on the multipool would be ones who like keeping their DRK. These two factors lead to increased selling (by some who directly mine DRK) that would offset the increased buying (by the multipool). The equilibrium wouldn't have changed.

[coinzcoinzcoinz]

I have 50% of net worth in DRK, I'm wondering whether I should put in more.

2% of DRK, instead of 1%?

If you get a Rolls Royce, can I be your driver and use the car for personal use on Saturday's?

Net worth obv, I'm a gambler baby.

Sure, you'll also be responsible for filling my bed with fresh hookers on a daily basis.

[thelonecrouton]

Odd, official darkcoin pool and my backup (mining pool hub) both down for me right now.  

nvm, both back up. 

Have p2pool failover now too.

[Japster]

DarkCoin, WhiteCoin, BlackCoin... when the orange and the purple ones?

[Kai Proctor]

DarkCoin, WhiteCoin, BlackCoin... when the orange and the purple ones?

 

[thelonecrouton]

Power meter just arrived!

Rig 1: 2 x 270, 1 x 6870, cheapo CPU / 4GB RAM / fancy MSI 7xPCIe mobo, 1000W gold PSU (room for expansion!) : 270W
Rig 2: 4 x 270, cheapo CPU / 4GB RAM / Asrock H61, 750W bronze PSU : 390W
Rig 3: 5 x 270, cheapo CPU / 4GB RAM / Asrock H61, 1000W gold PSU : 410W

All running BAMT 1.6 from USB.

~12 Mh/s for 1.07kW.

Will switch them back to VTC later maybe just to test, bet it's over 2kW.

[droptable]

Take a look at the one from Enzwell on darkcointalk (https://www.darkcointalk.org/threads/official-logo-vote.229/page-5#post-1866)

nice one!

[godzirra]

Regarding this multipool: will it actually help? I can see it working for a PoS or fully-mined coin but any diversion of hashrate from DRK means (1) more total DRK will be mined each day due to the block reward formula (2) a higher percentage will go to immediate dumpers because presumably the people on the multipool would be ones who like keeping their DRK. These two factors lead to increased selling (by some who directly mine DRK) that would offset the increased buying (by the multipool). The equilibrium wouldn't have changed.

Good point. I think it would help price. It would create steady demand on the buy side and that would increase price. Then there is more financial incentive to mine Darkcoin directly as well. I know many are already mining other coins to trade for darkcoin. And those who are supporting drk by mining directly for a seeming loss now are counting on an increase later.

The biggest factor in my mind is the psychological effect of knowing that there is steady buying support each day. People are petrified of pump and dump scams but if they know structurally there will always be buyers then they feel more comfortable in buying that coin. In essence just feeling like there is not a gaping hole to fall into when the dumping begins. This is BC's main advantage, the feeling of bagholder resistance. And as far as I can tell that's somewhat of a concern for some people here. It's a legitimate concern because there are so few barriers to entry in cryptocurrencies. So we should do what we can to protect share value and consequently community and confidence, which would be the effect of a Darkcoin multipool. I wish I knew how to do one. But I will contribute to the bounty!

tl;dr It takes the btc from overvalued scam coins and puts them into darkcoin. Which will induce confidence and increase value.

[mattmct]

Beautiful indeed

Take a look at the one from Enzwell on darkcointalk (https://www.darkcointalk.org/threads/official-logo-vote.229/page-5#post-1866)

Yeaaaahhh +10000000000000

Ohhhhhhhhh hell yesssssss!! Boom!!! LOVE IT!

[godzirra]

How about a Darkcoin multipool unveiling and Darksend release at the same time. Would create some serious buzz.

[godzirra]

Beautiful indeed

Take a look at the one from Enzwell on darkcointalk (https://www.darkcointalk.org/threads/official-logo-vote.229/page-5#post-1866)

Yeaaaahhh +10000000000000

Ohhhhhhhhh hell yesssssss!! Boom!!! LOVE IT!

Would look nice with a touch of gold.

[mattmct]

Regarding this multipool: will it actually help? I can see it working for a PoS or fully-mined coin but any diversion of hashrate from DRK means (1) more total DRK will be mined each day due to the block reward formula (2) a higher percentage will go to immediate dumpers because presumably the people on the multipool would be ones who like keeping their DRK. These two factors lead to increased selling (by some who directly mine DRK) that would offset the increased buying (by the multipool). The equilibrium wouldn't have changed.

Good point. I think it would help price. It would create steady demand on the buy side and that would increase price. Then there is more financial incentive to mine Darkcoin directly as well. I know many are already mining other coins to trade for darkcoin. And those who are supporting drk by mining directly for a seeming loss now are counting on an increase later.

The biggest factor in my mind is the psychological effect of knowing that there is steady buying support each day. People are petrified of pump and dump scams but if they know structurally there will always be buyers then they feel more comfortable in buying that coin. In essence just feeling like there is not a gaping hole to fall into when the dumping begins. This is BC's main advantage, the feeling of bagholder resistance. And as far as I can tell that's somewhat of a concern for some people here. It's a legitimate concern because there are so few barriers to entry in cryptocurrencies. So we should do what we can to protect share value and consequently community and confidence, which would be the effect of a Darkcoin multipool. I wish I knew how to do one. But I will contribute to the bounty!

tl;dr It takes the btc from overvalued scam coins and puts them into darkcoin. Which will induce confidence and increase value.

I also think it would help.  I'm far from an expert, but at the very basic level it creates a lot of buying pressure, which in turn drives up the price.  Every time the multipool sells off the crap coins, it produces huge buy orders for DRK, and obviously the ones the get eaten / bought up first, are the cheapest one, it then works it's way up until it gets to more more pricey coins, bumping the price. Rinse and repeat.