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

[mannie]

Cryptocurrencies don't make sense as general currencies because they're deflationary. Currencies need a lot of liquidity to be the grease for the wheels of commerce. It doesn't make sense to pay salaries in a deflationary currency, as people are more inclined to horde than spend. You need a currency with slight inflation but we all know how easy they can be corrupted by printing too much and triggering higher inflation, or printing even more to finance government debt, leading to even higher inflation (wink, wink Federal Reserve).

If "deflation" for you is the increase of purchasing power of a monetary unit (as opposed to the decrease of the supply of those units), you might want to consider that such "deflation" was pretty normal in the US before the FED started it`s management:

http://en.wikipedia.org/wiki/File:US_Historical_Inflation_Ancient.svg

Source: http://en.wikipedia.org/wiki/Deflation#In_the_United_States

I would not agree that we necessarily need a currency with "slight inflation". The finance industry (where I work) needs it, because they want to sell products for people who want do defeat inflation. It`s funny that buying such products is called "saving", whereas simply putting aside a monetary unit for later because it is gaining buying power is called hording.  

That's no surprise. Currencies only started being floated in the late 20th century. It doesn't mean the gold standard worked well - it was just the prevailing system before Bretton Woods.

Slight inflation works well because there is an incentive to provide savings as credit for economic growth. Hoarding to me are savings removed from credit or economic investment. If you can expect considerable returns by removing monetary units from supply without risk, it becomes problematic for commerce.

I still believe cryptocurrencies have a role to play as a secondary currency but I can't see them replacing fiat long-term in their current form. I think they'll be useful as an inflation hedge. Until relatively recently gold was still used to consummate large contracts but now it's chiefly an inflation hedge.

I think you raised some good points but I think there is a misconception about the need for inflation. Would things be different if a deflationary currency were used instead of an inflationary currency? Of course. For example, a manufacturer looking to buy new machinery would have to plan well when to make the purchase, especially with improving technology. However, the sooner the equipment is purchased, the sooner new income could be generated, which would later be worth more. The same could be said for the consumer. If you need a new computer, at some stage you have to bite the bullet or you will be waiting forever as technology improves and the currency's purchasing power increases. People need to eat, use water, electricity and the internet, and they need shelter regardless of whether their currency is inflationary or deflationary.

One benefit a deflationary currency could have, would be reducing the quantity of useless knick-knacks people accumulate. I have no doubt there would be a greater demand for quality products if money spent today were worth more tomorrow. There could be more focus on offering upgradeable products, rather than throw-away items.

I think that the main problems with a deflationary system is delay of purchase, stagnation of credit and liquidity traps. The manufacturer you mention often will not have the capital to invest in machinery, hire staff, etc, and needs credit/capital investment to increase production and meet demand. It may be harder for him to find that. With inflationary systems you get overinvestment/bubbles and corrections but they should be easier to influence with monetary policy than the opposite. Of course, central bank mistakes and gov fiscal mismanagement are a whole other problem.

Don't get me wrong, I'm all for cryptocurrencies as a way to keep the bastards honest, increase the ease/decrease the price of international transfers of value, use as a hedge against gov/central banks, etc. I just don't see it overtaking the current system. Forcing the current system to improve, yes...overtake, no.

And like I said earlier, a truly anonymous crypto will be the most useful as a hedge because it will be difficult for govs to track and confiscate. There will be a greater feeling of safety and psychology is pretty important when it comes to wealth storage.

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[Kai Proctor]

To  the  moon.To surpass the LTC.

Well, let's stay a bit realistic. I doubt that it will surpass LTC in a long time. No coin has.
Even though DRK offers a lot of innovation, many people don't see that yet.

LTC is a dead duck.

www.google.com/trends/explore?q=litecoin&date=1%2F2014%2012m

[thelonecrouton]

Something is screwy with 'masternode list' or, more likely, I'm doing something wrong.

Amazon masternode can see only itself, not my two others.
Digital Ocean masternode can see all three.
Other one can see only itself and Amazon one but not the Digital Ocean one
qt wallet can only see the Amazon one

All are version 100701 and the logfiles on each masternode show them merrily burbling away to other masternodes and they all seem up to date block wise etc.

 

[Ed4252]

any price predictions? does it follow the same trend as bitcoin?

[zuyfg888]

https://twitter.com/BlackFans1/status/465129015351590912

 

[enzo86]

Something odd going on here...

how is it on testnet that after about 10 minutes I end up with two addresses for the account 0 ?

these are the steps i am seeing to reproduce..

1, start darkcoind
2, tail -f .darkcoind/testnet3/debug.log
3, wait till synced up.
4, find local wallet.
5, ./darkcoind getaccountaddress 0
mmbRNmQvzbhu5N7eUrznovgBtyWVeLzGQk

6, send 1000 to kzGQk address
7, wait for 1000 to show up.
8, then when i ask what the 0 address is i get a whole new address??  WTF ??
9, ./darkcoind getaccountaddress 0
mvjjeg9gcukVEVbanKLemKRk3ZqAX22Yyu

you can see now that there are two addresses for account 0

./darkcoind getaddressesbyaccount 0
[
    "mvjjeg9gcukVEVbanKLemKRk3ZqAX22Yyu",
    "mmbRNmQvzbhu5N7eUrznovgBtyWVeLzGQk"
]

I have tried removing the testnet3 folder, stoping and starting darkcoind again, removing the entire folder...


{
    "version" : 100701,
    "protocolversion" : 70014,
    "walletversion" : 60000,
    "balance" : 1000.00000000,
    "blocks" : 3862,
    "timeoffset" : 0,
    "connections" : 8,
    "proxy" : "",
    "difficulty" : 0.07231408,
    "testnet" : true,
    "keypoololdest" : 1399699672,
    "keypoolsize" : 101,
    "paytxfee" : 0.00000000,
    "mininput" : 0.00001000,
    "errors" : ""
}


Anyone have any thoughts??

[splawik21]

any price predictions? does it follow the same trend as bitcoin?

The history likes to be repeted.

[conf]

oehm .... hashrate just collapsed? just read on some trollbox - someone said he found a block solo - and cpu-pool really shows diff 900?

ok, so I just guess pools got attacked. We will get more attacks like this, better spread the hash

Net Hashrate>37,361.98 MH/s (atm)

[braxx]

I'm pulling out of p2pool, which is a shame... I'm sure soon enough someone will patch it, and I'll be back.

 In the meantime, if you love profits, I highly suggest the absolute best pool ever in existance.

 It is one of the WORSE gui ever, very confusing. I dont know the operator, his english is weird, but he is a TOP notch dude. And the work he's done with this pool is nothing short of impressive. He´s always in IRC, nice constant news feed, I love it. I used it before x11, and now he's even added Badger coin! Autoswitching work like a dream. Nice stats all around, inbuilt profit calculators... Apart the hideous graphics, its the most impressive pool I've ever encountered.

 Very confusing at first, but well worth the trouble

 I'm not affiliated at all !

 http://coinmine.pw

 mind you, this is NOT the same coinmine.pl that has a nice piece of the DRK hashrate pie.

the only downside is it is pplns for last 10  minutes.
say you mine 22hr (no found blocks) and go away for like 2 hr (for a new coin for example) and a block is found in that 2hr you will get 0

no shares before the 10 minutes is accounted for 

[Equate]

oehm .... hashrate just collapsed? just read on some trollbox - someone said he found a block solo - and cpu-pool really shows diff 900?

ok, so I just guess pools got attacked. We will get more attacks like this, better spread the hash

I think official pool was DDOSed as my miners were not connecting for a while and thats why hash rate dropped, so spreading hash to other pools is better option.

[splawik21]

oehm .... hashrate just collapsed? just read on some trollbox - someone said he found a block solo - and cpu-pool really shows diff 900?

ok, so I just guess pools got attacked. We will get more attacks like this, better spread the hash

I think official pool was DDOSed as my miners were not connecting for a while and thats why hash rate dropped, so spreading hash to other pools is better option.

we've been talking about it so many times. Just do it every pool will give ypu the same earnings opportunity.

Btw. P2pool have no DDOS problem thats why we have to have patch for RC2

[MyFarm]

Firstly, apologies for causing distress. I am new to forums. I should not have framed my position using antagonistic language.

I have no vested interest. As a trader I am also a newb. Darkcoin was my first love, I then made the age old mistake of going all in on asiacoin, hence ac2.

I have learnt the value of community.

What I should have posted...

Hi there Dark community. I like what you are creating.

Have you considered ring signitures?

Maybe you have spent a lot of time on a good solution, but not the best?

Now that you have a large market share and recognizible branding, perhaps you could combine methods (collateral payments vs encrypted packets of info) rather than compete?

Much better indeed.  Links to info about ring signature information and your insight into why they are beneficial and potentially better is also appreciated.

Maybe I was wrong about you.  You're probably much more mature than I guessed.  For that, I also apologize.

[Lauda]

Opened DRK/CNY on bter.com

This is great news for the coin. We now have a wider acceptance, and China will help us a lot. Has this been added today? If it was, it's time to buy up quickly.

[nonlinearboy]

Spending the day drinking at the Rugby 7s at Twickenham.  For you yanks - that's American Football without the body armour, you wimps Grin
Keep up the great DRK work!

[Ephesis]

to the moon 

[omahapoker]

yesterday was thinking of getting in at $1.65







i'm still thinking about it...

[GhostPlayer]

 10 pages to go 'til 1000!

 How ironic if that would happen on the 14th ! ... (like the price, at this rate... 2h tops)

[xamido]

So, what makes the price rise? Any news? Thinking of getting in but need more information.

[Kai Proctor]

Spending the day drinking at the Rugby 7s at Twickenham.  For you yanks - that's American Football without the body armour, you wimps

Keep up the great DRK work!

Spending the day drinking at the Rugby 7s at Twickenham.  For you yanks - that's American Football without the body armour, you wimps Grin
Keep up the great DRK work!

nonlinearboy is a bot ?

[Lauda]

yesterday was thinking of getting in at $1.65







i'm still thinking about it...

Well you are very late. You can now buy in at $2.57, the price just keeps rising.
My suggestion would be to buy in now before it is too late. The Chinese will buy in and we should see a spike soon. I almost doubled what I've invested 2 weeks ago.

So, what makes the price rise? Any news? Thinking of getting in but need more information.

If you would only read the posts in the thread. DRK/CNY has been opened on bter.