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

[Ozziecoin]

Nope, your chances do not increase, only your payout.  In fact, a hedge against bad luck would be to run as many masternodes as you can.  You are then more likely to get the average payout.

So is my understanding about this all wrong ?

Would a "3000 DRK node" not receive more traffic than a 1000 DRK node ? They'd process the same traffic but just get paid more per transaction processed ?

'
No, I'm stupid    I fixed.

I wouldn't say that. I read some of the details and the MN reward is not directly linked to transaction processing. The MN doing the processing is chosen at random. The MN getting paid is done via a 6 vote system.  Why 6 votes? I don't know. However, it's clearly stated that pools have no ability to prefer their own MNs. That's why I left room for correction in my original statement.

[1714283643]

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[1714283643]

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[toknormal]

I wouldn't say that. I read some of the details and the MN reward is not directly linked to transaction processing. The MN doing the processing is chosen at random. The MN getting paid is done via a 6 vote system.  Why 6 votes? I don't know. However, it's clearly stated that pools have no ability to prefer their own MNs. That's why I left room for correction in my original statement.

ok, I'd better go away and read some details before I do any more ranting. Apologies if I've flown off the handle on wrong information, it's just that this is a good project that's trying to thread a needle through a commercial vs technical priorities minefield and I don't want to see any good ideas blown up.

Will digest and come back 

[eltito]

Where do you get that more DRK per node = higher traffic weighting?  Sorry, maybe a stupid question, but I've only ever read that stacked MNs increase the reward chance, not the chance of a particular MN performing the mixing on a given round.  Are the two tied together?

I thought they were. Otherwise what's the reward for ? Owning more DRK than the next person ? That's called interest.

I might have misunderstood the strategy and will be more than happy to be corrected on my misunderstanding.

Well the reward in that case would simply be for having the MN available for use.  You may be 100% right about them being tied together, I don't know either :p.

[battbot]

holly mother of nodes....btc is rocking back to life

btc sees a 5x times rise from here, dragging everything along, drk at 5x from here is $55.....happy days.

I can see DRK at $50+ relatively soon but BTC at $3000? When the US bond market collapses, sure.

Well, BTC at $7.9 Billion is 0.11% of the global asset market.

Longer term I can see DRK dragging BTC up if businesses are happier adopting DRK because it allows them to retain their financial privacy...

Okay, I'm sorry, anonymous transactions certainly have their benefits, but I have to say this:  NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

[Ozziecoin]

Okay, I'm sorry, anonymous transactions certainly have their benefits, but I have to say this:  NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

No this increases the need for audit, as transactions cannot be publicly verified on the Blockchain. There will be more manual jobs. Bitcoin = no jobs for auditors. Darkcoin = lots of jobs for auditors. Who is cinni coin? (don't answer)

[illodin]

Okay, I'm sorry, anonymous transactions certainly have their benefits, but I have to say this:  NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

http://wiki.darkcoin.eu/wiki/FAQ#Isn.27t_Bitcoin_anonymous.3F_Why_would_I_need_Darkcoin_as_an_invidual_or_as_a_company.3F
http://www.wired.co.uk/news/archive/2013-06/06/bitcoin-retail

[ImI]

holly mother of nodes....btc is rocking back to life

btc sees a 5x times rise from here, dragging everything along, drk at 5x from here is $55.....happy days.

I can see DRK at $50+ relatively soon but BTC at $3000? When the US bond market collapses, sure.

Well, BTC at $7.9 Billion is 0.11% of the global asset market.

Longer term I can see DRK dragging BTC up if businesses are happier adopting DRK because it allows them to retain their financial privacy...

Okay, I'm sorry, anonymous transactions certainly have their benefits, but I have to say this:  NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

bitcoin wont go anonym. nevertheless their is OBV a very big user and investor demand for a truly anonymous cryptocurrency, so longterm there will establish itself a second big anonymous cryptocurrency besides Bitcoin.

If that will be DRK? maybe, but the race isnt over yet. and at the beginning there will obv be several coins that will profit from this big run towards anonymity.

[ImI]

Okay, I'm sorry, anonymous transactions certainly have their benefits, but I have to say this:  NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

No this increases the need for audit, as transactions cannot be publicly verified on the Blockchain. There will be more manual jobs. Bitcoin = no jobs for auditors. Darkcoin = lots of jobs for auditors. Who is cinni coin? (don't answer)

its more like cash. cash is anonym too and we all know that audits are being done somehow.

[tifozi]

Amir Taaki, one of the main developers and founders of DarkWallet, thinks DRK will be bigger than LTC soon: https://twitter.com/AmirTaaki/status/469844777803206657

At first I thought it was a fake account, but it's indeed Amir Taaki twitter account, interesting.

yep....looks real

Great sport Amir 

[TsuyokuNaritai]

NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

Please show us all invoices, business bank statements, how much you pay yourselves for what you sell, etc. for your company.

Or maybe you don't want to? You think they should be private and not potentially viewable by anyone with an internet connection?

[daddeo]

Nope, your chances do not increase, only your payout.  In fact, a hedge against bad luck would be to run as many masternodes as you can.  You are then more likely to get the average payout.

So is my understanding about this all wrong ?

Would a "3000 DRK node" not receive more traffic than a 1000 DRK node ? They'd process the same traffic but just get paid more per transaction processed ?

I don't believe the reward % increases per election, only the % that you may be elected. Did that make any sense?

[Ozziecoin]

Great sport Amir 

He is a technologist and not as biased. He is already rich and has probably been accumulating Darks.

[TsuyokuNaritai]

Amir Taaki, one of the main developers and founders of DarkWallet, thinks DRK will be bigger than LTC soon: https://twitter.com/AmirTaaki/status/469844777803206657

At first I thought it was a fake account, but it's indeed Amir Taaki twitter account, interesting.

yep....looks real

Great sport Amir 

Yeah, is a great confidence boost. Amir is fairly well known, he'll probably talk about us next time he's on TV... oh, maybe that's not quite such good news.

"gg"? Is he throwing in the towel on Dark Wallet and buying DRK instead?

[AlexGR]

Great sport Amir 

He is a technologist and not as biased. He is already rich and has probably been accumulating Darks.

Perhaps he can team up with Evan... imagine the following:

1. Amir buys DRKs...
2. Amir proposes to team up with Evan.
3. Announcement of team up goes public
4. DRK booms.
5. Amir is now FILTHY rich

[Kai Proctor]

Okay, I'm sorry, anonymous transactions certainly have their benefits, but I have to say this:  NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

Wow we were waiting for your opinion on the subject. Close the door when you leave.

[battbot]

NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

Please show us all invoices, business bank statements, how much you pay yourselves for what you sell, etc. for your company.

Or maybe you don't want to? You think they should be private and not potentially viewable by anyone with an internet connection?

Look, I am CPA (USA) and this is my professional opinion.  I just don't see it happening, ever.  Because with anon transfers there is no way to prove the recipient nor the sender (unless I am mistaken?).  When you are keeping records, even with cash (as the example was given earlier), you need copies of receipts and invoices for documentation.  With anonymous transfers all you have is "your word" which is, to put it bluntly, bullshit.  

[jonesT]

INCOMING DEV PREMINE DUMP

HOLY SHIT

JUST GOT WORD FROM BIG TIME INVESTORS.

LATE

Mark Kerpeles confirms this on his twitter

First page says there is no premine.

So, there are premined darks, huh?  

[Kai Proctor]

NO REAL WORLD BUSINESS WILL EVER USE ANONYMOUS TRANSFERS.  I work in finance / accounting and let me tell you for a fact that this will NEVER happen.  One word: AUDIT

Please show us all invoices, business bank statements, how much you pay yourselves for what you sell, etc. for your company.

Or maybe you don't want to? You think they should be private and not potentially viewable by anyone with an internet connection?

Look, I am CPA (USA) and this is my professional opinion.  I just don't see it happening, ever.  Because with anon transfers there is no way to prove the recipient nor the sender (unless I am mistaken?).  When you are keeping records, even with cash (as the example was given earlier), you need copies of receipts and invoices for documentation.  With anonymous transfers all you have is "your word" which is, to put it bluntly, bullshit.  

We don't care about your professional opinion keep it for your coin. Go tell the same thing to your dear friend the XC dev. Shoo.

[CryptoBrother]

INCOMING DEV PREMINE DUMP

HOLY SHIT

JUST GOT WORD FROM BIG TIME INVESTORS.

LATE

Mark Kerpeles confirms this on his twitter

First page says there is no premine.

So, there are premined darks, huh?  

OMG GO AWAY!!!! FUD FUD FUD!! SMELL IN MY COUNTRY B1TCHES!

[xibeijan]

Dark on the climb again after some nice consolidation