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

[piyany]

I was thinking about how much money is needed to keep the same price, regarding to coins generated per day and did some little calc.

Bitcoin 616$ ~3600 per day  = 2.217.600 $ per day
Litecoin 8,32$ ~30.000 per day = 249.600$ per day
Darkcoin 5,89$ ~2880 per day = 16.963$ per day

I was flabbergasted when I saw these figures, am I doing it wrong

That's more than I thought, no wonder the trend continues downward.

People compare this number to litecoin but they do not see the big picture. Litecoin is traded on many big fiat exchanges, the price damage is dispersed. Still it continues downward spiral.

Darkcoin basically only on deserted mintpal and cheap-ass cryptsy. What is even more relevant is that trading for darkcoin takes place almost only in DRK/BTC pair. BTC amount in circulation is much more limited and there is probably not much "fresh btc" coming to support the price.

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[Joshuar]

I was thinking about how much money is needed to keep the same price, regarding to coins generated per day and did some little calc.

Bitcoin 616$ ~3600 per day  = 2.217.600 $ per day
Litecoin 8,32$ ~30.000 per day = 249.600$ per day
Darkcoin 5,89$ ~2880 per day = 16.963$ per day

I was flabbergasted when I saw these figures, am I doing it wrong

That's more than I thought, no wonder the trend continues downward.

People compare this number to litecoin but they do not see the big picture. Litecoin is traded on many big fiat exchanges, the price damage is dispersed. Still it continues downward spiral.

Darkcoin basically only on deserted mintpal and cheap-ass cryptsy. What is even more relevant is that trading for darkcoin takes place almost only in DRK/BTC pair. BTC amount in circulation is much more limited and there is probably not much "fresh btc" coming to support the price.

That's actually not true at all pirany. While Litecoin is on far more exchanges atm than Darkcoin, that doesn't mean the "price damage is dispersed", as you know Litecoin is mostly traded on BTC-E, Bitstamp, and Bitifinex. Just as Darkcoin is mostly traded on Mintpal and Cryptsy.

BTC amount in circulation is much more limited and there is probably not much "fresh btc" coming to support the price., it's actually the opposite....if your assumptions were true, then BTC would be worth around the same as Darkcoin. Infact, having less BTC and DRK mined per day, drives the price upward, as it produces scarcity. So there is a demand for both coins, but since there is only a limited amount being mined per day, the price is driven upward by that excess demand..It also means that it takes less $, to support the prices BTC and DRK are at, compared to Litecoin, which has a lot of coins being mined per day, and limited demand, so that will drive Litecoin's price lower and lower..

[TsuyokuNaritai]

Earn your own DRK coins by mining at the multipool. Not only that, you can earn DRK using your old ASIC hardware on SHA256 and SCRYPT coins!

Earn your own DRK coins by mining at the multipool. Not only that, you can earn DRK using your old ASIC hardware on SHA256 and SCRYPT coins!

Earn your own DRK coins by mining at the multipool. Not only that, you can earn DRK using your old ASIC hardware on SHA256 and SCRYPT coins!

Earn your own DRK coins by mining at the multipool. Not only that, you can earn DRK using your old ASIC hardware on SHA256 and SCRYPT coins!

We heard you the first 3 times today! With an ad that length, there's no need to post it quite so often.

[AlexGR]

I was thinking about how much money is needed to keep the same price, regarding to coins generated per day and did some little calc.

Bitcoin 616$ ~3600 per day  = 2.217.600 $ per day
Litecoin 8,32$ ~30.000 per day = 249.600$ per day
Darkcoin 5,89$ ~2880 per day = 16.963$ per day

I was flabbergasted when I saw these figures, am I doing it wrong

That's more than I thought, no wonder the trend continues downward.

People compare this number to litecoin but they do not see the big picture. Litecoin is traded on many big fiat exchanges, the price damage is dispersed. Still it continues downward spiral.

Block reward was ~25, instead of 5, for a couple of months prior to the escalation of difficulty.

At 25 per block = 14400 coins per day x 0.0015 (price a few months back) = 21.6 btc per day
At 5 per block (diff maxed out) = 2880 coins per day x 0.01 (price now) = 28.8 btc per day

If price managed to remain stable during the 14400 coins per day period - for months (when DRK was unknown as a currency), it can also do that now - easily.

It's not daily supply that's causing the downtrend. It's a holder or some holders exiting. The daily dumping exceeds 2880 coins. And my advice to buyers is that since these guys are determined to sell and exit, then make them dump for cheap and buy lower. Place orders at 0.008-9. They'll have to dump an extra 10-20% of their assets for the same BTCs.

[toknormal]

I was flabbergasted when I saw these figures, am I doing it wrong

What you're doing wrong is assuming the daily market cap of any coin has to be bought.

To test the veracity of that assumption you need to compare the daily coin supply from mining with the daily market volume across all exchanges.

(You also need to take into account the cost of mining to check if - even at this price- miners would be selling at a loss or a profit).

[AlexGR]

I was flabbergasted when I saw these figures, am I doing it wrong

What you're doing wrong is assuming the daily market cap of any coin has to be bought.

To test the veracity of that assumption you need to compare the daily coin supply from mining with the daily market volume across all exchanges.

Even if the numbers were sliced in half (assuming 50% dump) the argument is still valid.

Bitcoin 616$ ~3600 per day  = 2.217.600 $ per day * 50% dump (=1.1mn)
Litecoin 8,32$ ~30.000 per day = 249.600$ per day * 50% dump (=125k)
Darkcoin 5,89$ ~2880 per day = 16.963$ per day * 50% dump (=8.5k)

[piyany]

I was thinking about how much money is needed to keep the same price, regarding to coins generated per day and did some little calc.

Bitcoin 616$ ~3600 per day  = 2.217.600 $ per day
Litecoin 8,32$ ~30.000 per day = 249.600$ per day
Darkcoin 5,89$ ~2880 per day = 16.963$ per day

I was flabbergasted when I saw these figures, am I doing it wrong

That's more than I thought, no wonder the trend continues downward.

People compare this number to litecoin but they do not see the big picture. Litecoin is traded on many big fiat exchanges, the price damage is dispersed. Still it continues downward spiral.

Darkcoin basically only on deserted mintpal and cheap-ass cryptsy. What is even more relevant is that trading for darkcoin takes place almost only in DRK/BTC pair. BTC amount in circulation is much more limited and there is probably not much "fresh btc" coming to support the price.

That's actually not true at all pirany. While Litecoin is on far more exchanges atm than Darkcoin, that doesn't mean the "price damage is dispersed", as you know Litecoin is mostly traded on BTC-E, Bitstamp, and Bitifinex. Just as Darkcoin is mostly traded on Mintpal and Cryptsy.

Litecoin is traded on all chinese markets including the big 3 - Huobi,OKcoin and BTCCHINA, mainly for CNY. On btc-e it is traded for both BTC/LTC and LTC/USD, same on bitfinex. Also all altcoin exchanges trade litecoin and in many cases it is paired with other coins, even mintpal has DRK/LTC pair.  Bitstamp is only bitcoin for now.

I am not able to follow your reasoning in the second part of your post. 2880 coins per day  produces scarcity? Most people who wanted to buy darkcoins already did so during this months, now probably baghold at higher prices. Traders buy and sell on the waves. There are very little people who actually go to bitstamp to get BTC only so they can buy DRK on mintpal.

[toknormal]

Even if the numbers were sliced in half (assuming 50% dump) the argument is still valid.

Isn't the price subject to market supply rather than mining supply ?

I agree - if the whole mining supply were to be dumped on markets then it would indeed need that amount of "buys" to sustain the price. But you can equally apply that to the rest of the coin supply as well - the "already mined" portion. The assumption seems to be that people who bought their coins won't dump and those who mined them will. In fact I think there are dumpers and holders in both groups which makes these "amount needed to sustain price" arguments a bit circular and meaningless.

Market supply can come from anywhere - both today's mine and legacy mining supplies.

[piyany]

I was thinking about how much money is needed to keep the same price, regarding to coins generated per day and did some little calc.

Bitcoin 616$ ~3600 per day  = 2.217.600 $ per day
Litecoin 8,32$ ~30.000 per day = 249.600$ per day
Darkcoin 5,89$ ~2880 per day = 16.963$ per day

I was flabbergasted when I saw these figures, am I doing it wrong

That's more than I thought, no wonder the trend continues downward.

People compare this number to litecoin but they do not see the big picture. Litecoin is traded on many big fiat exchanges, the price damage is dispersed. Still it continues downward spiral.

Block reward was ~25, instead of 5, for a couple of months prior to the escalation of difficulty.

At 25 per block = 14400 coins per day x 0.0015 (price a few months back) = 21.6 btc per day
At 5 per block (diff maxed out) = 2880 coins per day x 0.01 (price now) = 28.8 btc per day

If price managed to remain stable during the 14400 coins per day period - for months (when DRK was unknown as a currency), it can also do that now - easily.

It's not daily supply that's causing the downtrend. It's a holder or some holders exiting. The daily dumping exceeds 2880 coins. And my advice to buyers is that since these guys are determined to sell and exit, then make them dump for cheap and buy lower. Place orders at 0.008-9. They'll have to dump an extra 10-20% of their assets for the same BTCs.

You are right, the downward trend is usually not because of miners. The same whales that pumped the price so high slowly take their profits. They are not "exiting", just distributing the big amounts they bought before the pump. Whenever the trend is down it basically means whales are selling more than buying.

[rickraw]

Looking at the 15min MP chart, I hope today's dip to 0.0092 (today's low) was a bear trap and we continue up past 0.01047 (yesterday's high).


Disclaimer:

[coins101]

To da moon?

IMHO. With background mixing, virgin addresses for each transaction, de-coupling of anonymity layer from blockchain layer, Bitcoin api compatability, user-specified mixing levels, shared rewards for diversified network services...

Yes. "To da moon".

tl;did read

This is why I'm tribal. Couldn't give a shit about the price, except the trolling and price bashing impacts on morale of those involved at the core of development.

Someone called it parasitical earlier. I couldn't agree more. In fact, I would go further and call it virtual AIDS.  

The creation of eCash has never, ever been possible. It's like the creation of the internet.

Yes Bitcoin got there first, but it's a clever and powerful variant of credit cards if users are connected to their transactions, but worse as spending can go from very private to very public. It's eCash until its not, and then it becomes a ball and chain.

The parasites are attempting to cripple their host in an effort to gain from it. The risk is they kill their host. So why would I put up with that kind of shit.

If the same thing had happened to the internet, and many did attempt to kill it, where would we all be now?

Fucking parasites. If I ever have the opportunity, I would use that bug spray at close range.

[AlexGR]

Even if the numbers were sliced in half (assuming 50% dump) the argument is still valid.

Isn't the price subject to market supply rather than mining supply ?

Yes. However inflation (and the money required to preserve price by buying new coins) is a factor that affects market supply.

Two coins -all things being equal- where the first has 1000 new coins added per day (x0.01 btc each) and the second has 10000 coins per day (x0.01 btc each), will have different market supplies due to miners dumping for BTC.

[coins101]

I think we are getting closer to the psychologically important barrier of $100m, expect breakout support from there to $300m.

I thought you ditched your coins.

You must've bought them back.

Never. Never. Never. Until $300/DRK.

bump.

now $350 

[chaeplin]

http://drk.poolhash.org/mnode.html has url of pool.

[coins101]

https://elbzo.net/masternodes.html

 

[SquaPac]

If everything is active except for p2pool will my masternode still function properly?

https://i.imgur.com/gmIkotb.png

[sin242]

Actually miners are the BACKBONE of the system.......

While true, there isn't a shortage of them and won't be in the forseeable future.  As long as any coin has value, there will be people mining it.

[coins101]

I was weary of dark to start with and it was the discussion about privacy combined with the fact that the price at the time (March-ish) was stable that got me mining and buying it. The uses beyond the obvious "well silk road 3 right?"  

The lack of privacy in bitcoin is the core need that dark fulfils.

If privacy was a key defining point for you, then it will be a key defining point for many.

It was the same for me. Once I researched the fact that Bitcoin had a fundamental flaw with privacy, I knew DRK was going to be a win. It's but a matter of time - when, not if.

On that basis, those that say 'drk is overvalued at these prices' they are talking out their back side. Yes they have a view, and it is a personal view.

But what price would you place on the first ever eCash? If its going to be worth $1bn, $2bn, or $10bn in a few years time, then DRK is valued at around $100m now.

Speak to any VC and ask them how much they would value a 1% stake in a start-up company if they knew in one or two years time they would get a share of $1bn.

Actually, put yourself in the place of a start-up needing to raise some cash from a VC. How much would you sell 1% of your company if you knew you would go on to sell the company for $1bn in a year or two?

[threecats]

https://twitter.com/anonymouscoin/status/489491575681339394

[organizer]

There is nothing wrong with highlighting other possible uses. Or pushing privacy as a neutral agenda. It helps keep the perception of the coin from being polarised into good/bad. It helps keep the perception of the coin neutral as ecash should be.

As far as future uses go, maybe i'm not explaining it right or you're not getting it. But if we can agree to accept the premise i outlined earlier that as BTC gets more regulated and mainstream, there will be opportunities for another coin or coins to emerge to fill some "gaps" in how BTC either was or is still being used for... this emerges from the greater attention and scruitny. Agree?

So if we agree on that, I think we also fundamentally agree on some of the issues with BTC that exist now (privacy) and as it grows acceptance (more privacy issues!) become more important to the people who use a digital currency for whatever reason.

From there, we need to be honest about what opportunities exist. It -IS- the Silk Road 3 stuff, people who want to be paid off the books, companies that want to hide something, for whatever reason, etc.. This type of stuff IS the low hanging fruit that can create more demand for DRK as a privacy-centric coin that ISNT BTC.

I think you are too hung up on this "good/bad" perception and if we were to act on that as a marketing effort, I think it ultimately hurts the coin.
If you try to figure out how to control "perception", I think you inevitably end up in a place where you start saying how DRK isn't just used for drugs or whatever... the more you go down that road, the more you will ultimately end up alienating the people who want to use DRK for buying some weed or whatever. If you do that, you pretty much would guarantee DRK not to have much success.

Anonymous transactions/privacy are the thing here. DRK needs to be (and marketed) as transaction neutral and not venture into the world of saying "we don't really advocate this, this or this".