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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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lohveh
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May 22, 2014, 11:24:01 AM |
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There is information that the developer will soon sell their coins will become a millionaire, all others would lose a lot of money Darkcoin derived from Quark type of algorithm: blake, bmw, groestl, keccak, jh, stein PoW and PoS The following data and time stamps were collected from the Darkcoin blockchain 32). Block 1: 2014-01-19 Time: 3:54:41 Block 1000 : 2014-01-19 Time: 4:33:39 Block 2000: 2014-01-19 Time: 06:25:47 Block 3000: 2014-01-19 Time: 09:10:16 Block 3250: 2014-01-19 Time: 11:22:11 Looking at this data, we see that Darkcoin was mined with 500 DRK generated per block from the get go. From block 1 to at least block 3250, according to their blockchain, they were still producing 500 coins each block. The transition from 500 to 277 coins per block occurs between 3250 and 3500 but this author did not see the necessity of getting the exact moment of halving. Simple math shows that 3250 blocks multiplied by 500 coins a block is 1,625,000 Darkcoins created between the times of 3:54 and 11:22 on January 19th, 2014. As of today there are around 4,300,000 DRK in existence, making this a pretty hefty instamine. The Darkcoin website expects around 22,000,000 DRK to be created. That means in less than 8 hours, almost 5% of the Darkcoins that ever will be created spawned in that 1/3 of a day. It's safe to say Darkcoin has left it's investors in the dark on this one. source: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coinsHello UTClover ..; you missed the train again ? Seriously ? SO bad for you, give me your drk adress, I'll tip you some, I've pity  |
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flipme
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May 22, 2014, 11:24:31 AM |
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There is information that the developer will soon sell their coins will become a millionaire, all others would lose a lot of money Darkcoin derived from Quark type of algorithm: blake, bmw, groestl, keccak, jh, stein PoW and PoS The following data and time stamps were collected from the Darkcoin blockchain 32). Block 1: 2014-01-19 Time: 3:54:41 Block 1000 : 2014-01-19 Time: 4:33:39 Block 2000: 2014-01-19 Time: 06:25:47 Block 3000: 2014-01-19 Time: 09:10:16 Block 3250: 2014-01-19 Time: 11:22:11 Looking at this data, we see that Darkcoin was mined with 500 DRK generated per block from the get go. From block 1 to at least block 3250, according to their blockchain, they were still producing 500 coins each block. The transition from 500 to 277 coins per block occurs between 3250 and 3500 but this author did not see the necessity of getting the exact moment of halving. Simple math shows that 3250 blocks multiplied by 500 coins a block is 1,625,000 Darkcoins created between the times of 3:54 and 11:22 on January 19th, 2014. As of today there are around 4,300,000 DRK in existence, making this a pretty hefty instamine. The Darkcoin website expects around 22,000,000 DRK to be created. That means in less than 8 hours, almost 5% of the Darkcoins that ever will be created spawned in that 1/3 of a day. It's safe to say Darkcoin has left it's investors in the dark on this one. source: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coinsGTFO stop spreading FUD ffs this was talked over sooo many times already, spend some time researching stuff instead just blindly repeating rubbish Don't worry, its just CRYPTOHUNTER on a new account. |
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AlexGR
Legendary
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Activity: 1708
Merit: 1049
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May 22, 2014, 11:25:06 AM |
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GTFO
stop spreading FUD ffs
Last people spreading fud about "oh, now it's gonna crash, wait and see" haven't appeared in days... Too many eggs on their faces and zero credibility. |
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CryptoPleb
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May 22, 2014, 11:26:46 AM |
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There is information that the developer will soon sell their coins will become a millionaire, all others would lose a lot of money
Evan isn't in this 100% to make money. He wasn't some broke money hungry programmer before he started on darkcoin. |
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coins101
Legendary
Offline
Activity: 1456
Merit: 1000
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May 22, 2014, 11:27:06 AM |
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As its Pizza day, can we get a bounty together to send Evan and Ape some Pizza?
There are plenty here that could do that on their own.
It would be better to have lots of people send small amounts of DRK to someone in the USA who can put an order in and pay for it. Tante is based in the US, I think, and might be ok to put the orders through. Anyone else able to?
bump I`m in...let me know later on what address we do donation  bump, new page  |
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StefanJ
Member
Offline
Activity: 96
Merit: 10
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May 22, 2014, 11:28:45 AM |
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There is information that the developer will soon sell their coins will become a millionaire, all others would lose a lot of money Darkcoin derived from Quark type of algorithm: blake, bmw, groestl, keccak, jh, stein PoW and PoS The following data and time stamps were collected from the Darkcoin blockchain 32). Block 1: 2014-01-19 Time: 3:54:41 Block 1000 : 2014-01-19 Time: 4:33:39 Block 2000: 2014-01-19 Time: 06:25:47 Block 3000: 2014-01-19 Time: 09:10:16 Block 3250: 2014-01-19 Time: 11:22:11 Looking at this data, we see that Darkcoin was mined with 500 DRK generated per block from the get go. From block 1 to at least block 3250, according to their blockchain, they were still producing 500 coins each block. The transition from 500 to 277 coins per block occurs between 3250 and 3500 but this author did not see the necessity of getting the exact moment of halving. Simple math shows that 3250 blocks multiplied by 500 coins a block is 1,625,000 Darkcoins created between the times of 3:54 and 11:22 on January 19th, 2014. As of today there are around 4,300,000 DRK in existence, making this a pretty hefty instamine. The Darkcoin website expects around 22,000,000 DRK to be created. That means in less than 8 hours, almost 5% of the Darkcoins that ever will be created spawned in that 1/3 of a day. It's safe to say Darkcoin has left it's investors in the dark on this one. source: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coinsFrom now on you're Al Gore screaming "Man-bear-pig is coming, I'm serial" from my point of view |
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luke997
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May 22, 2014, 11:30:07 AM |
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Guys, let's remember - respond to FUD clearly with facts and don't "over quote".
We've had a good advise from wise member folks on the board, let's use it as undoubtedly more FUD will come with more success.
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hashmoon
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May 22, 2014, 11:31:47 AM |
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snip wow.. even a snake oil seller talk about drk |
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Ozziecoin
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May 22, 2014, 11:37:34 AM |
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There is information that the developer will soon sell their coins will become a millionaire, all others would lose a lot of money
If dev sells into Btc or fiat, then he loses privacy, no? Think about it!!! |
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snipsnoop
Legendary
Offline
Activity: 924
Merit: 1000
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May 22, 2014, 11:39:34 AM |
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FYI dev is known. On another note. That is some sell wall lol
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Ambros
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May 22, 2014, 11:48:04 AM |
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coins101
Legendary
Offline
Activity: 1456
Merit: 1000
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May 22, 2014, 11:48:43 AM |
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FYI dev is known. On another note. That is some sell wall lol
I don't think they are sell walls. Well, obviously they are, but I think they are forgotten trades. The sort of thing you might do when you want to go to bed. Set it high thinking it won't get to this level while I'm in la la land. People all over the world are waking up having sold cheap DRK which is on a bull run. |
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hashmoon
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May 22, 2014, 11:50:19 AM |
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looks like btc-e to add the top 5-6
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trdiablo
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May 22, 2014, 11:51:23 AM |
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It looks like within a few hours we will go north of 0.0200000 !! WTF, totally awesome.
I really think that DRK will go to 0.2 BTC in the next months. Worth 10x more than now.
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snipsnoop
Legendary
Offline
Activity: 924
Merit: 1000
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May 22, 2014, 11:53:05 AM |
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its crazy
Well its all the news sites, so more interest = higher prices. |
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chompyZ
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May 22, 2014, 11:56:26 AM |
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RC3 Progress ReportI've had some substantial progress on DarkSend and have figured out how to make our existing system as secure as ring signatures. Vastly improved security, no bloat (from the ring signatures) and without actually having to trust new cryptography (it hasn't been extensively tested like what DarkSend uses) . So I think it'll give us a HUGE advantage in the coming months. More to come soon, I'm going to start implementing this tomorrow.  Sounds GREAT! "Make everything as simple as possible, but not simpler." - Albert Einstein |
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AlexGR
Legendary
Offline
Activity: 1708
Merit: 1049
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May 22, 2014, 12:04:03 PM |
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I was doing a calculation about the sustainability of the price:
DRK's price is, in the long run, more sustainable than LTCs because LTC is spewing 28.800 LTC per day.
These require 576 BTC per day or 288.000 USD to buy them so that price levels can remain (at least) constant relative to BTC.
If half the LTC miners are holding, then this goes to 576 BTC / 2 and 288k USD / 2. Still quite a lot.
DRK produces 2.880 DRKs per day with block reward @5.
At equal levels of 0.02, it's just 57.6 BTC. If miners hold half of them, it takes just 28 BTC to buy new coins.
Over a year, LTC will require 576 BTC per day X 365 days x 510 USD per BTC = 107mn USD just to sustain its price. Even if half the miners hold their coins, that number goes to 53mn USD in buying new coins.
All things being equal with DRK, and with block reward maxed out at 5, the numbers are 10mn and 5mn usd respectively.
Things look good for DRK and not so good for LTC. Hmmm...
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