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

[g4q34g4qg47ww]

Check out today's Daily Dose of Dark, where I co-interview Alejandro De La Torre (CEO of SendChat) with Bill Cassidy!

Daily Dose Of Dark | January 12

Nice work Tao! Bill Cassidy's show is growing on me, very nice when you don't have the time to squat on threads all day.

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[toknormal]

Litecoin taking hits again.

[oblox]

Litecoin taking hits again.

Same with BTC

[TaoOfSaatoshi]

Telegram is great,
i use it every day, run a big chat room on it , am on other with chats 200 people !
(as Telegram has a Mac/PC App too !) you can chose encrypted or now in single chats and over 2 people only unencrypted (which is too bad)

My understanding is that all chats are encrypted but it's also possible to opt for superior end-to-end security with a "Secret Chat" between only two users. Using this method the chats are never stored on the server but are directly from a single device of one user to a single device of another user (sync with multiple devices is not possible). Messages which self destruct (from both devices) are also possible using the secret chat.

I'm a big fan of Telegram too, I love the fact that the chat app is open source and that others can use the 100% open API to build applications on the Telegram platform. I'm really looking forward to checking out SendChat's implementation. DRK integration can only be good news for Darkcoin

Stay tuned to drkmedium.com for an interview with SendChat's creator by Bill Cassidy and I.

Should be posted, soon.

Very cool, you are relentless and amazing!  I bow to you

TaoOfSaatoshi

Thank you guys! I think that Bill's show is a great start in our vision to create a culture around Darkcoin. You will see more from the Get Into The Dark! team in the future including a new website (getintothedark.net) which is currently in development.

I'm having a blast doing these things, and I consider it a contribution to my own investment. Now only if we could get BTC off life support so we can stop bleeding value...

[toknormal]

Bitcoin 250 support broken.

Where is all this leading......are we going back to 2013 ?

Looks to me like this is headed into the 100's now.

[toknormal]

DRK still trundles on up at its steady 20 degree angle...

[Lebubar]

DRK still trundles on up at its steady 20 degree angle...

20° ??
Great the best angle...

[strix]

It looks to me like there's a bit of a supply problem with DRK. (i.e. market supply not coin supply).

As far as I can see there's about 6000 DRK for sale in the known universe and its almost all on Cryptsy.

Bitfinex has less than 300 which could be due to 'hidden orders' except for the fact that it appears to have spiked up to 0.00634 this afternoon on a volume of a mere 90 DRK.

That's what I was saying earlier about liquidity - there is none. It's all tied up in masternodes where people are earning money with their DRK. As soon as there's the slightest bit of demand for this coin the valuation looks like it might fly. All that's being traded right now is granular DRK.

Do you see this as becoming an issue?  I'm not programed to understand economics, so I'd like to know if this deflationary coin is too deflationary or something?

Not really an issue IMHO, the supply is tied to the price level. There is low supply at these prices but there is also relatively low demand so the price has stayed stable for a long time. Having said that, it has to move at some point, it seems unlikely for it to crash because is oversold and most of the investors seem to be long with DRK. So it is more likely that as we reach new milestones demand may increase and the price would need to move up to be able to meet the extra demand.

So in summary, more people will sell but not as these prices. It may continue to be stagnant  too, there are no warranties. That is why our efforts to promote adoption and awareness are very important.

P.S. I am on my mobile so excuse any typos.
 

(Wow, I'm impressed with your mobile typing! You might want to checkout MessageEase. It is great once you get over the learning curve. (Of course you could cheat and use voice recognition. ))

@TanteStefana2

Regarding deflation; it is not the threat to DRK that it is to fiat for at least two reasons. First, the primary danger of deflation to a debt based economy is the aforementioned "pushing a rope" scenario. If your primary means of manipulating the economy is interest rates, you lose your ability to do so when rates reach zero, and have to resort to some form of "negative interest" such as QE. As deflation leads to an increase in the value of a currency (purchasing goods requires less currency) People hoard the currency knowing every delay will result in more purchasing power, and the economy stalls as sales slow. At the same time, borrowing slows as people must pay back loans with increasingly valuable currency, while the urgency to purchase is reduced by the knowledge that prices will go down. Since the interest to pay back loans was not created at the point of loan origination, the failure to loan more money into circulation guarantees an increase in defaults on loans which cascade through the system, ultimately destroying the system in any one of a number of possible end-game scenarios.

Since new DRK are not borrowed into existence and there is an expectation of greater demand for the utility of DRK; there are no significant loans denominated in DRK whose default could wreak havoc on the DRK economy. Add to this the fact that there is currently not much DRK denominated economy at all, and the risk is non-existent. In point of fact, the "hoarding" of DRK caused by MN formation has an effect somewhat akin to that of deflation, in that the reduction in available supply supports the value of DRK by limiting the pool available to meet demand.

The second risk of deflation in a debt based economy is that there is simply not enough currency to meet the needs of the economy, which results in starvation due to lack of monetary units. (Think the great depression.) In this regard we are in new theoretical territory, but I suspect that the infinintly divisible nature of DRK combined with its true fungibility, and ease of transport/distribution, will render such negative effects as at most, trivial.

As Oblox observed, in an absolute sense DRK might be considered as slightly inflationary during the current "mining phase." But it seems likely that continued upward pressure due to demand for MNs as well as growing utilitarian demand for DRK in commerce will greatly overcompensate the slight value reducing effect of the new coins.

Ultimately, the effect of deflation is to increase the value of monetary units relative to things exchanged for them, be they FERNs, BTCs, Au, Ag, bread, bullets, or whiskey. This is the precisely what we desire and expect in the case of DRK. It is not to be feared, but rather cheered.

I hope that makes some sense.

Peace...

[jiggytom]

decent sized sell wall on Cryptsy...

[spatula]

http://www.telegraph.co.uk/technology/internet-security/11340621/Spies-should-be-able-to-monitor-all-online-messaging-says-David-Cameron.html

David Cameron wants to ban internet encryption. A public attack on internet privacy as a legitimate political position is a sign of terrible things to come. This type of legal action could make cryptocurrencies that use encryption for privacy (example: monero) illegal.

[oaxaca]

David Cameron molests collies.

[klintay]

David Cameron molests collies.

hahahaha someone call the RSPCA

[Jeff8247]

David Cameron and Tony Abbott molest collies.

http://www.abc.net.au/news/2014-08-06/security-laws-abbott-browsing-history-not-collected/5652364

I fixed it for you.

[miningpoolhub]

Darkcoin Mining Pool Hub
http://darkcoin.miningpoolhub.com

Updated to latest darkcoin wallet 10.17.26

Thanks.

[TanteStefana2]

Bitcoin 250 support broken.

Where is all this leading......are we going back to 2013 ?

Looks to me like this is headed into the 100's now.

Any idea why this is happening?  I've been working on hubbie's book marketing etc... so I missed many pages here....  What's up?

[TanteStefana2]

@TanteStefana2

Regarding deflation; it is not the threat to DRK that it is to fiat for at least two reasons. First, the primary danger of deflation to a debt based economy is the aforementioned "pushing a rope" scenario. If your primary means of manipulating the economy is interest rates, you lose your ability to do so when rates reach zero, and have to resort to some form of "negative interest" such as QE. As deflation leads to an increase in the value of a currency (purchasing goods requires less currency) People hoard the currency knowing every delay will result in more purchasing power, and the economy stalls as sales slow. At the same time, borrowing slows as people must pay back loans with increasingly valuable currency, while the urgency to purchase is reduced by the knowledge that prices will go down. Since the interest to pay back loans was not created at the point of loan origination, the failure to loan more money into circulation guarantees an increase in defaults on loans which cascade through the system, ultimately destroying the system in any one of a number of possible end-game scenarios.

Since new DRK are not borrowed into existence and there is an expectation of greater demand for the utility of DRK; there are no significant loans denominated in DRK whose default could wreak havoc on the DRK economy. Add to this the fact that there is currently not much DRK denominated economy at all, and the risk is non-existent. In point of fact, the "hoarding" of DRK caused by MN formation has an effect somewhat akin to that of deflation, in that the reduction in available supply supports the value of DRK by limiting the pool available to meet demand.

The second risk of deflation in a debt based economy is that there is simply not enough currency to meet the needs of the economy, which results in starvation due to lack of monetary units. (Think the great depression.) In this regard we are in new theoretical territory, but I suspect that the infinintly divisible nature of DRK combined with its true fungibility, and ease of transport/distribution, will render such negative effects as at most, trivial.

As Oblox observed, in an absolute sense DRK might be considered as slightly inflationary during the current "mining phase." But it seems likely that continued upward pressure due to demand for MNs as well as growing utilitarian demand for DRK in commerce will greatly overcompensate the slight value reducing effect of the new coins.

Ultimately, the effect of deflation is to increase the value of monetary units relative to things exchanged for them, be they FERNs, BTCs, Au, Ag, bread, bullets, or whiskey. This is the precisely what we desire and expect in the case of DRK. It is not to be feared, but rather cheered.

I hope that makes some sense.

Peace...

Thank you for that, and I do understand what you're saying, but I'm having trouble with one aspect of cryptos and their deflationary character.  If you borrow coins, like you said, the amount you have to pay back could be insurmountable, leading to people unable to borrow funds to start businesses and such. Or do I understand this incorrectly?  I suspect the world will be run in a bizarre new way that I have trouble comprehending.  I know greater minds have worked this out, and I've read some of the arguments that deflation is not a bad thing, but it's not sticking, yet, LOL.  How would people in a crypto world fund start ups, buy homes, etc...?  How would such things work?

[eahmadov]

Buckle up folks, bitcoin is heading to 130$ range.

BUMP!

[tungfa]

Buckle up folks, bitcoin is heading to 130$ range.

BUMP!

Listen to Tone
he is very good in his BTC price predictions:
http://cointelegraph.com/news/113282/bitcoin-analysis-week-of-jan-11-tough-times

[RenegadeMan]

@TanteStefana2

Regarding deflation; it is not the threat to DRK that it is to fiat for at least two reasons. First, the primary danger of deflation to a debt based economy is the aforementioned "pushing a rope" scenario. If your primary means of manipulating the economy is interest rates, you lose your ability to do so when rates reach zero, and have to resort to some form of "negative interest" such as QE. As deflation leads to an increase in the value of a currency (purchasing goods requires less currency) People hoard the currency knowing every delay will result in more purchasing power, and the economy stalls as sales slow. At the same time, borrowing slows as people must pay back loans with increasingly valuable currency, while the urgency to purchase is reduced by the knowledge that prices will go down. Since the interest to pay back loans was not created at the point of loan origination, the failure to loan more money into circulation guarantees an increase in defaults on loans which cascade through the system, ultimately destroying the system in any one of a number of possible end-game scenarios.

Since new DRK are not borrowed into existence and there is an expectation of greater demand for the utility of DRK; there are no significant loans denominated in DRK whose default could wreak havoc on the DRK economy. Add to this the fact that there is currently not much DRK denominated economy at all, and the risk is non-existent. In point of fact, the "hoarding" of DRK caused by MN formation has an effect somewhat akin to that of deflation, in that the reduction in available supply supports the value of DRK by limiting the pool available to meet demand.

The second risk of deflation in a debt based economy is that there is simply not enough currency to meet the needs of the economy, which results in starvation due to lack of monetary units. (Think the great depression.) In this regard we are in new theoretical territory, but I suspect that the infinintly divisible nature of DRK combined with its true fungibility, and ease of transport/distribution, will render such negative effects as at most, trivial.

As Oblox observed, in an absolute sense DRK might be considered as slightly inflationary during the current "mining phase." But it seems likely that continued upward pressure due to demand for MNs as well as growing utilitarian demand for DRK in commerce will greatly overcompensate the slight value reducing effect of the new coins.

Ultimately, the effect of deflation is to increase the value of monetary units relative to things exchanged for them, be they FERNs, BTCs, Au, Ag, bread, bullets, or whiskey. This is the precisely what we desire and expect in the case of DRK. It is not to be feared, but rather cheered.

I hope that makes some sense.

Peace...

Thank you for that, and I do understand what you're saying, but I'm having trouble with one aspect of cryptos and their deflationary character.  If you borrow coins, like you said, the amount you have to pay back could be insurmountable, leading to people unable to borrow funds to start businesses and such. Or do I understand this incorrectly?  I suspect the world will be run in a bizarre new way that I have trouble comprehending.  I know greater minds have worked this out, and I've read some of the arguments that deflation is not a bad thing, but it's not sticking, yet, LOL.  How would people in a crypto world fund start ups, buy homes, etc...?  How would such things work?

Tante, thanks for asking all these questions as it's facilitating many interesting points being discussed (and thanks Toknormal, Minotaur26 & Strix for your great explanations)

In regards to borrowing coins, I think this aspect you don't understand re "the amount you have to pay back could be insurmountable, leading to people unable to borrow funds to start businesses and such" is true if the crypto coin appreciates greatly in value against another currency that it has to be converted into and this secondary currency is the main unit used for acquisition of the goods and services one needs.

So, for example, we all expect DRK to appreciate dramatically against BTC and the USD. If you took out a loan in DRK, converted it to USD and then two years later had to pay the DRK back (so you had to then get USD and convert it back to DRK), yes you're likely to be seriously disadvantaged and find you have to payback way way more USD than you originally received when you converted your borrowed DRK. But, think about if things are far more progressed along in terms of adoption and you can buy many goods and services in DRK, then it's a different situation altogether because if you don't convert your borrowed DRK into anything else, but just keep it as DRK to use, then provided you're making money within the DRK economy (i.e. spending DRK, getting paid in DRK) any loan will only be subject to whatever interest you agreed on under the terms and what you pay back will just be the original DRK (principal) plus interest.

The DRK may have appreciated enormously against BTC and/or the USD but it doesn't matter if you've kept your loan funds in DRK all along.

It's very hard to think of these crypto currencies without constantly measuring them back against the reserve currency, but at some stage a tipping point will be arrived at where we're able to live and function without constant reference back to the USD (or AUD in my case) because the crypto we use has become "real" money.

Till that point though, taking out loans in crypto and converting the funds to something else has considerable risk (in the same way as taking out a loan in a foreign currency carries considerable risk that your home currency might be devalued and because you've borrowed in the foreign currency you end up owing far more).

[Terzo2]

The bears and whales are raping the bitcoin users . In other words, All of You are getting buttfOcked .