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

[BlockaFett]

Been away for a couple of days. What happened to Mintpal? Is it gone for good?

The story is apparently that Mintpal V2 uses a completely new DB, but they only tested the migration process on a subset of the data (rather than a stage of the full live db)

so on Friday they started a hot migration and (surprise) this took a lot longer than they thought: https://twitter.com/BlockaFett/status/518620401694683136

I don't think they are looking to scam, I think they are just new both to large scale DB migration and also running an exchange (they are delaying letting people login to get their coins because there are 'advanced features' they want to finish, so whilst BTC is tanking everyone's BTC is locked so they can finish some features that they also dropped the ball on...)

But I think the real issue is, seeing as they never tested the full data migration before actually pushing the button on Fri, if there were any referential integrity issues in the V1 DB that didn't show when they did a partial migration test like duplicate or orphaned records, this is only going to arise on their new v2 code when it goes online and people check their accounts - we are the guinea pigs for the DB migration scripts apparently - normally anyone would do a full migration test on a staged db of the full live data this is basic stuff.

It's kind of shocking to think they took down a big and fully functional exchange like Mintpal and they don't even know basic stuff about how to migrate it or basic expectations of exchange customers and the exchange has been offline for nearly 4 days as a result.

My advice would be get your coins out as soon as V2 is live (I think they are implying later today or tomorrow) then wait for the dust to settle and see how V2 actually performs (hopefully its ok because there are 430k dark still in there according to the block explorer)

EDIT: I hope they sort it out and the community should support them getting back on track, I just think personally it's v. risky right now and I will be looking to get my BTC out ASAP once its live then step back and see how they do.

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[coins101]

Trollbox driven BTC-e looks like it might go below $300. They are talking themselves into a hole.

[BlockaFett]

Trollbox driven BTC-e looks like it might go below $300. They are talking themselves into a hole.

$100 coming, then scramble to buy back, similar to drk, imho

[KryptoFoo]

Trollbox driven BTC-e looks like it might go below $300. They are talking themselves into a hole.

Sentiment very bad. Hoping 300 is inflection point.

[thelonecrouton]

Trollbox driven BTC-e looks like it might go below $300. They are talking themselves into a hole.

The Litecoin Bagholders HQ is like an infinite stupidity engine. 

[TaoOfSaatoshi]

nozomi hayase @nozomimagine  ·  Oct 3
@TaoOfSatoshi I'm ready now!

Tao Of Satoshi @TaoOfSatoshi  ·  Oct 3
@nozomimagine Ready for what? Hmmm. Thanks for following, welcome to the Dark!

nozomi hayase @nozomimagine  ·  Oct 3
@TaoOfSatoshi We need DarkCoin Now! http://cointelegraph.com/news/112668/russia-to-issue-ban-and-fines-for-cryptocurrency-use …



I'm not Joking...#Darkcoin Masternodes are seriously cool! You get regular payments for life!! #buildthedarkness



#getintothedark
#buildthedarkness
#DarkcoinChameleon

Join the fun on Twitter,

@TaoOfSatoshi

[TaoOfSaatoshi]

The new Masternode Payment logic is working much nicer, I'm seeing a lot less variance between my nodes.

RC3 Payment Algo FTW!!!!

I'm lovin' it too...

[TaoOfSaatoshi]

A little chilly tonight in the Mid-West of the States.....


FIRE UP THE RIGs !!!!!!

The HELL with the furnace :-)

YEAH !!!!!!


Got a Rig in the front of the house and a Rig in the back :-D

So excited  - lol

In Ontario, Canada it went from 29 C to 7 C in one day...I should get some mining rigs to keep warm...

[TaoOfSaatoshi]

If mintpal has gone away with all the coins you woudn't see a recovering on DRK.

Maybe MintPal need some more days to sell-dump all their BTC before  doing "Mt.Gox-style" announce?

Heavens to Betsy, I hope not!

[TaoOfSaatoshi]

Trollbox driven BTC-e looks like it might go below $300. They are talking themselves into a hole.

[toknormal]

Sentiment very bad. Hoping 300 is inflection point.

4hr MACD says otherwise. Looks like at least $200 to me. Not selling though. Can't be bothered with the hassle, got "real" work to do.

[qwizzie]

pools that are on RC5 and paying 20% MN fees are going up fast.. we might actually reach 90% before the deadline...
link : https://drk.mn/blocks.html

[coins101]

https://bitcointalk.org/index.php?topic=579976.msg6335710#msg6335710

[thelonecrouton]

It seems to me like we have the same people defending increasing the current 20% MN payments and a much larger set of people against it. I have been a DRK supporter since early February and I haven't had this bad of a feeling about something Evan suggested since that airdrop idea he floated...

I still don't know why we don't give the currency several months to a year to grow organically before messing with the technicals. If DRK/fiat increases then MN's will become more profitable and their numbers will naturally increase. The current plan is heavy handed and may well be a disaster if too many people are pissed off.

Much larger? I see 10 people voting for the staus quo:

https://bitcointalk.org/index.php?topic=579976.msg6335710#msg6335710

And none of those 10 people have come up with a rational argument as to why miners deserve 4X the block reward of Masternodes, just tears and threats.

In the near future Masternodes will be performing the vast majority of blockchain maintenance. Miners will exist as a backup, and they aren't even a secure backup...

Masternodes are orders of magnitude more decentralised than miners.

Take a look at http://drk.poolhash.org/poolhash.html -

Last 24hrs:
suchpool 19.4%
x11ltcbtccom 17.3%
coinminepl 10.4%
wafflepool 7.2%
miningpoolhub 6.2%
trademybitcom 6%

That's 66.5% of the total hash controlled by 6 individuals. Only takes 4 of them to mount a 51% attack.

A successful attack on the MN network would need way more than 51%. More like 90%+ for any reasonable chance.

More miners = better security is a complete myth when 90%+ of miners use pools instead of p2pool.

'Securing the network' my arse. Miners are in it for the money, all those pools dump DRK straight to BTC, and right now those figures look like a liability to me, not any form of security.

The argument that miners give the coin value because of the electricity/rig costs is also bogus. If that were the case, the vast majority of miners wouldn't be selling their DRK at a loss straight away.

[coins101]

And none of those 10 people have come up with a rational argument as to why miners deserve 4X the block reward of Masternodes, just tears and threats.

In the near future Masternodes will be performing the vast majority of blockchain maintenance. Miners will exist as a backup, and they aren't even a secure backup...

Masternodes are orders of magnitude more decentralised than miners.

Take a look at http://drk.poolhash.org/poolhash.html -

Last 24hrs:
suchpool 19.4%
x11ltcbtccom 17.3%
coinminepl 10.4%
wafflepool 7.2%
miningpoolhub 6.2%
trademybitcom 6%

That's 66.5% of the total hash controlled by 6 individuals. Only takes 4 of them to mount a 51% attack.

A successful attack on the MN network would need way more than 51%. More like 90%+ for any reasonable chance.

More miners = better security is a complete myth when 90%+ of miners use pools instead of p2pool.

'Securing the network' my arse. Miners are in it for the money, all those pools dump DRK straight to BTC, and right now those figures look like a liability to me, not any form of security.

The argument that miners give the coin value because of the electricity/rig costs is also bogus. If that were the case, the vast majority of miners wouldn't be selling their DRK at a loss straight away.

'Securing the network' my arse. Miners are in it for the money, all those pools dump DRK straight to BTC, and right now those figures look like a liability to me, not any form of security.

Proof of Loyalty. That's what is missing.

Mine DRK = helping to secure the network.

Mine DRK + operate a MN = proof of loyalty

Is there a way to coordinate mining with MN, with holding DRK in cold storage?

Sir Crouton = DRK Knight of the Realm.

[BlockaFett]

Crouton i don't think it's fair to say no one has come up with a rational argument as to why miners get 4x Masternode's share of coins

First MN don't generate coins, miners do, and MN came after mining

Someone said that if MN generated all the coins in future, it would be barrier to entry for the little guy (having to buy 1000 DRK before they can generate coins) - how is that not rational?

Also, how does this look to miners?  There are lots of small miners who support drk with a few crap gfx cards because they think one day drk will be US$500, and can't afford 1000 DRK, i know a couple of these - good for them.  Just saying all miners dump isn't fair.

I voted to keep the MN reward the same, its a fine line, I think 30% would be the absolute tops or people will just accuse DRK of being an elitist thing and there is weight to that IMO.

Just my 2 cents.

[toknormal]

And none of those 10 people have come up with a rational argument as to why miners deserve 4X the block reward of Masternodes, just tears and threats.

These arguments you've presented are like saying the price of the flight is as important as the integrity of the plane's wings.

In crypto, hashrate is everything. You're arguing for cheap flights at the potential expense of the wings falling off.

No f*cking way.

20% masternode fee is huge. Don't be greedy.

[thelonecrouton]

And none of those 10 people have come up with a rational argument as to why miners deserve 4X the block reward of Masternodes, just tears and threats.

These arguments you've presented are like saying the price of the flight is as important as the integrity of the plane's wings.

In crypto hashrate is everything. You're arguing for cheap flights at the potential expense of the wings falling of. No f*cking way.

20% masternode fee is huge. Don't be greedy.

What part of 4 people could fork the blockchain anytime they wanted to or were coerced to do you not grasp?

This is not integrity. This is not security. This is a liability.

The wings are held on by hope. Hope is not a plan.

Hashrate is not everything. Distribution of it is. And currently distribution a joke.

[thelonecrouton]

Is there a way to coordinate mining with MN, with holding DRK in cold storage?

Mandatory use of p2pool with built-in MN shares. 

That's not an overnight re-write though.

[toknormal]

Bitcoin's into the $200's.