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

[Minotaur26]

Bump

Zerocash /  Zerocoin weaknesses

Here is the analysis of Anonymint on the weaknesses of Zerocash/Zerocoin. For those of you who are new and dont know him. Anonymint is a "world class programmer who knows his sh*t" and even though he is not part of the dev team have been instrumental to the discussions leading to the development of the latest Darksend. This is worth reading.

I hope readers find my posts helpful?

ZeroCash is going public in a few months time ~20 May. Regardless of whether they have anything tangible or just a published paper,

I don't think they will have beta-test level code then.

This is about not being drowned out and then being considered a clone.

No way Darkcoin can be considered a clone, as Zerocash completely hides the payer, payee, and the amount of transactions. The block chain is a complete fog. Zerocoin doesn't do this.

Zerocash will have some positive spin. They will talk about e-cash and anonymity.

They will make the point I just wrote above.

What they won't talk about are the problems with the project.

The main weakness of Zerocash is it adds an additional 3 minutes between check out and completion of payment. (Add that on top of Bitcoin's 10 - 60 minutes, or Litecoins 2.5 - 15 minutes). Zerocoin doesn't have this problem.

The main weakness of Zerocash and Zerocoin are they depend on new crypto which hasn't been subjected to years of cryptanalysis, and if you put it on the block chain, then it is later cracked, the entire coin is potentially F.U.B.A.R..

Whereas Darksends are offchain! Even if you crack the crypto of Darksend (which uses very old well vetted crypto), the block chain remains uncracked!

The other weakness of Zerocash and Zerocoin is they depend on a trusted party to create the master parameters. If anyone retains that information (even if they snooped it using the NSA's air gap detection mechanisms), they in the case of Zerocash they can create unlimited coins and nobody will even know it! In other words, the coin supply becomes unknowable!! I am not exaggerating!!

Another counter point may be that each Zerocash transaction takes 9ms to verify (500ms for Zerocoin). Thus they can only put 111 transactions in a block per second per core of the CPU on the miner. Visa does 2,000 - 4,000 transactions per second, so for Zerocash to scale to global transactions needs 40 CPU cores per miner (e.g. 10 iCore i7 CPUs), not including denial-of-service transaction spam. Transaction spam could be really bad if they don't have a transaction fee or other means to control it. Any way, 40 CPU cores is not really a big problem if mining will be done only in pools.

But crypto-currencies are hoping to enable microtransactions, thus the transactions per second would explode by orders-of-magnitude.

Thus appears to me Zerocash is incompatible with microtransactions unless mining becomes very centralized among a few powerful pools.

Centralization of mining is a severe problem with Bitcoin having onetwo or three pool with 51% of the hash power now.

[TanteStefana]

@tante

If you don't mind me asking..... how many did you manage to actually mine??

About 1400 to date.  My little computers are getting almost nothing anymore, so I'm about to retire them.  I was going to try to last until the 25th, LOL, but turned my desktop off yesterday.  It's so slow when mining!  I have two nodes, and some extra I hope to pay some debt down with if it goes up a little higher.  I have until the end of June to hold 

[splawik21]

I remember my first 2 weeks of mining in February, before the GPU miner and before buying on exchanges

2 laptops got me 17 DRK, seemed so little at a time, now it feels not too bad

You have mined in february and you didn`t tell me instantly? hi hi thnx you did anyway.... 

I did and told you, but you didn't listen for the first couple weeks :-)


BTW, my quick prediction:

Next peak @ 0.0159 in 2h
Next bounce of the bottom @ 0.0132 in 4h

Right, I was looking for daily profitability and DRK wasn`t profitabile to mine....till today isn`t but ppl mine it anyway... need of some vision and here we go...

Ladies and gentelmen you are the witness of new cryptocurrency era where DRK coin is going to the undisputed leader!

You`re all welcome

[fernando]

Cryptsy Panic..... I have had problems and Tante and the Ape have too.

It seems that Cryptsy like to engage some strange protocol for withdrawals etc for coins with sudden surges of volume / pumps. Patience, not panic.

Right now (with regard to the DRK market) reminds me of the Honey Badger waking up from it's Cobra bite to immediately carrying on eating it...



What an irritant  these  pumps are to the HB close cousin.... The DRK Badger.

Also, yesterday Cryptsy started yesterday to ask for verification ID. They say that if you don't verify you can't trade against USD (if they ever finish implementing it!) and you can't withdraw more than 1000 USD per day OR EQUIVALENT IN CRYPTO!! I'm not sure when they will start implementing this, but maybe some problems with withdrawals are caused by that limitation, because it is already in place, or because the software thinks it is.

[alexcfr]

FlutternCoin pump !!

[Labteck]

time to dump

[TanteStefana]

this coin will hurt many ppl

Welcome to the same world of another coin... It's f**king manipulated all way around...
All those sell walls of 150,160,170... suddenly gone after 140btc buy wall appeared.
Don't be naive, it's only one big player (or team of guys) and you - gambling with the coin.
Some of u will get hurt if you won't get out in time...  Don't be too greedy and get the F
out of there in time... Just I guess the time is not yet - as the whale now has 140btc in
his pocket, so it will take a while to sell off.

I guess the idea behind was to get more cheap chips into the game...  Plan succeeded, the
question is just if the game rules has'nt changed. We'll c

Can you please explain that in plain English, LOL.  I find it really hard to understand how the market is being manipulated (I don't doubt it, just don't understand it, that's why I'm just holding, LOL)

[luke997]

I suck at trading - hence holding - but I think I got it now.

Basically every time trolls call for dump, just buy.

Based on last couple weeks data, you could have made a tidy stash.

[Joshuar]

I suck at trading - hence holding - but I think I got it now.

Basically every time trolls call for dump, just buy.

Based on last couple weeks data, you could have made a tidy stash.

Yea, trolls have been saying since dark was priced at .005, to not buy.

Now there all quiet, why?Cause while they wanted you to not buy, they bought in themselves.

People saying, don't buy, are doing that exact thing^.

I buy a few darkcoin everyday.

[TanteStefana]

Seems the free "advice" in this thread is on a permanent rewind loop. How many days in a row will the same "advice" be given out only to have it be wrong before people realize that DRK is different?

I don't know, but I'll keep correcting the stupidity. Like this reddit thread

http://www.reddit.com/r/CryptoCurrency/comments/25pfua/why_darkcoins_darksend_seems_kind_of_scammy/

Some guy doesn't understand a thing about darkcoin or masternodes and then proceeds to call it scammy. These are the type of idiots we have to deal with.


I'm sure Tante is getting hand cramps explaining how the initial faster mining was well distributed to the monkeys who come in here crying instamine scam.


Let's see 0.02 today.

I'm cutting and pasting now, LOL.  And I've been bad.  I haven't been on Reddit in a while (just don't like it's ADD style (attention deficit disorder, LOL) - gives me a headache.  I can't find a thread I want to enter there, LOL.  Stressful, sorry!  I think I'm just too old (ducks)

[Honest Tim]

@tante

If you don't mind me asking..... how many did you manage to actually mine??

About 1400 to date.  My little computers are getting almost nothing anymore, so I'm about to retire them.  I was going to try to last until the 25th, LOL, but turned my desktop off yesterday.  It's so slow when mining!  I have two nodes, and some extra I hope to pay some debt down with if it goes up a little higher.  I have until the end of June to hold 

Bloody hell. I only got half of that, but I only started a few days before the miner whale (not a small whale....a big miner). If only he hadn't turned up.... I stopped mining when it fell to about 7/8 a day. Oh why oh why?

I could list another half dozen if onlys but at least I concentrated on buying at the time.

[coins101]

Have we beaten Litecoin yet?

[TanteStefana]

Cryptsy Panic..... I have had problems and Tante and the Ape have too.

It seems that Cryptsy like to engage some strange protocol for withdrawals etc for coins with sudden surges of volume / pumps. Patience, not panic.

Right now (with regard to the DRK market) reminds me of the Honey Badger waking up from it's Cobra bite to immediately carrying on eating it...



What an irritant  these  pumps are to the HB close cousin.... The DRK Badger.

Also, yesterday Cryptsy started yesterday to ask for verification ID. They say that if you don't verify you can't trade against USD (if they ever finish implementing it!) and you can't withdraw more than 1000 USD per day OR EQUIVALENT IN CRYPTO!! I'm not sure when they will start implementing this, but maybe some problems with withdrawals are caused by that limitation, because it is already in place, or because the software thinks it is.

Now I have to go learn about the honey badger!  Interesting!  How could I not have known?

Also, thanks for letting me know about cryptsy.  I was going to sell a batch of coins before the end of June, and it looks like I'll have a hell of a time withdrawing my funds then!  I want to send it to coinbase for deposit because they already have all my info, and the fewer companies with that the better, but if I can't even send my btc's to coinbase, then heck!  I'll have to sell at another exchange I guess!

[luigi1111]

@tante

If you don't mind me asking..... how many did you manage to actually mine??

About 1400 to date.  My little computers are getting almost nothing anymore, so I'm about to retire them.  I was going to try to last until the 25th, LOL, but turned my desktop off yesterday.  It's so slow when mining!  I have two nodes, and some extra I hope to pay some debt down with if it goes up a little higher.  I have until the end of June to hold 

Bloody hell. I only got half of that, but I only started a few days before the miner whale (not a small whale....a big miner). If only he hadn't turned up.... I stopped mining when it fell to about 7/8 a day. Oh why oh why?

I could list another half dozen if onlys but at least I concentrated on buying at the time.

You talking about the legendary whale of old that caused DGW to be created?

[TanteStefana]

I suck at trading - hence holding - but I think I got it now.

Basically every time trolls call for dump, just buy.

Based on last couple weeks data, you could have made a tidy stash.

LOL, so much easier said than done!

[coins101]

Nice surprise...bought more DRK that went on sale today...thanks 

[Fermin]

Have we beaten Litecoin yet?

We are near

[raze182]

Who designed the darkcoin coin image?  Can you PM me whoever it was.  Thanks.

If he hasn't contacted you already, I believe it was Enzwell.

[TanteStefana]

@tante

If you don't mind me asking..... how many did you manage to actually mine??

About 1400 to date.  My little computers are getting almost nothing anymore, so I'm about to retire them.  I was going to try to last until the 25th, LOL, but turned my desktop off yesterday.  It's so slow when mining!  I have two nodes, and some extra I hope to pay some debt down with if it goes up a little higher.  I have until the end of June to hold  

Bloody hell. I only got half of that, but I only started a few days before the miner whale (not a small whale....a big miner). If only he hadn't turned up.... I stopped mining when it fell to about 7/8 a day. Oh why oh why?

I could list another half dozen if onlys but at least I concentrated on buying at the time.

If I only had known about amazon instances, where I could have cpu minned, oh man, I could have made so many coins!  But I'm a slow learner and I entered cryptos with DRK.  Just started about a week or so before DRK launched.  Had already bought an antminer, LOL.  I'll never make enough BTC to pay for that antminer, ROFL.  ASICs are really over priced!  And as far as I can tell, they were just arriving.

I was there at launch, but it took until a pool opened up before I finally got mining to work.  I didn't know how to do anything.  So, had I been knowledgeable, I could probably have made 10-20 thousand coins (using amazon) even after a pool opened up, but I didn't know about that.  Anyway, I am proud I did as well as I did.

OH, and I'm making less than .01 drk a day, don't think I'm even close to that anymore, LOL

[ErrorId]

@tante

If you don't mind me asking..... how many did you manage to actually mine??

About 1400 to date.  My little computers are getting almost nothing anymore, so I'm about to retire them.  I was going to try to last until the 25th, LOL, but turned my desktop off yesterday.  It's so slow when mining!  I have two nodes, and some extra I hope to pay some debt down with if it goes up a little higher.  I have until the end of June to hold 

Bloody hell. I only got half of that, but I only started a few days before the miner whale (not a small whale....a big miner). If only he hadn't turned up.... I stopped mining when it fell to about 7/8 a day. Oh why oh why?

I could list another half dozen if onlys but at least I concentrated on buying at the time.

You guys got a hell of a lot more then me. I started mining on Feb. 16th I think, I only mined 180, but this was with my regular pc and no extra investment so I'm happy with that.