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

[stonehedge]

Spreadcoin dev seems to think that he'll have masternodes up and running in a few weeks with InstanTX a few weeks after for example.  Whether this is possible remains to be seen but people are benefiting from our dev team's work and also learning from our mistakes.

You're kidding right?    He actually said that? What is Spreadcoin anyway? (disregard last question)

No specific dates, just "in a few weeks" mentioned a few times.  Anyway...their thread is interesting to visit and ask questions about specific plans for the future.  Not for discussion here 

[tungfa]

II Version .... Bump ...... 

[illodin]

Think of it this way. What happens when you're in the queue at the supermarket ?

[1] - you got overcharged at the checkout in the supermarket for an item that belonged to the customer behind you. The checkout person reverses the sale and immediately regenerates a credit and debit receipt to transfer the liability from you to the other customer

The store sends you back the price of the item. Now the item belongs to the store again. Then the item is charged from the customer behind you. Is there a problem? The store's own bookkeeping can interpret that sequence any way they wish.

[2] - you just paid for your week's shopping at the checkout and suddenly realised that you needed a pack of chewing gum so you ask the checkout person to process another payment

Do you realise that no supermarket in the world would even consider a blockchain transaction that took 20 seconds in that circumstance ? Payment processors can blow 20 seconds to kingdom come and add a myriad of essential features that a blockchain transaction could never cope with (such as payment insurance, buffering, all sorts of stuff - like insuring the sale).

Dunno about "supermarkets" specifically, but if a payment processor will take 1-2% cut I'd imagine a lot of retailers would choose a method without middlemen. They can accept the payment immediately, with a 20 seconds confirmation the risk of double spend is small, and they might get an alert or something and catch the guy before he leaves the premises if the transaction didn't actually confirm soon after?

A 20 second confirmation time will just look ridiculous to serious businesses. They won't find it credible.

If the 20 second confirmation is proven to be just as good as 6x10 minute confirmation time, then the only businesses that wouldn't find it credible will be those that wouldn't find Bitcoin credible because it's just internet fairy money.

If you don't trust fast confirmation times for some reason, Instant TX will be optional, just like Darksend.


PS. Can the masternode network act as a "payment processor"? What would be required for it to do so? Do we need a sidechain to do the "counting" so the main chain wouldn't become too large and choke?

[GhostPlayer]

PS. Can the masternode network act as a "payment processor"? What would be required for it to do so? Do we need a sidechain to do the "counting" so the main chain wouldn't become too large and choke?

Very good points there...

 This last question got me thinking. Like exchanges operate, right? Its just their product is buy/sell orders. So if the MN network were to adopt a payment processor, then that would be a Darkcoin proprietary technology, meaning, despite being open-source, only one processor would be able to exist. If you wanted another, you'd need to create an entirely new and independant MN network feeding off the blockchain. Sidechain is interesting for expansion and scalability and protocol overlaying, but applied to payment processor, you want anything but. Big can of worms...  But in essence, a "simple" payment processor doesn not need a sidechain.

So no, don't think those that would be an good option.

[Minotaur26]

I think you are a little confused about how InstantX works, InstantX just locks a transaction in place for a period of time, it is secured in the blockchain separately. The cool thing about instantX is that it is adjustable, it will take around 20 secs or less (maybe 10) to lock a transaction this is  the minimum time it takes for an InstantX lock to be set. If you want to lock a transaction really quick in a smaller interval than the block time then boom you use it like that.

 But Evan created a parameter that allows you to set the transaction lock time you prefer. If you want to lock a transaction for a month you can do that too, this can be great for contracts between people you could send coins to someone but prevent them spending them with a transaction lock that expires at a later date giving you time to check that everything is good with the terms of the deal. You can even adjust it to a 10min lock and use it for POS as you are describing.

Or so many other applications InstantX is really an adjustable time transaction locking system and you can use it any way you want. Obviously the uber fast locking time is how we are marketing it right now but it is much more than that.

Plus, the blockchain still secures every transaction just like we do now. The transaction locking system is an additional more flexible layer, transactions go to blocks normally as they do now. There is no additional risk I really dont get what some users are saying.

http://en.wikipedia.org/wiki/Clearing_(finance)



A blockchain is not a POS system and never will be. http://en.wikipedia.org/wiki/Point_of_sale

[LucD88]

According to drk.mn over 81% of the Masternodes are now running v11.x, does that mean enforcement is turned back on?

[popolite11]

According to drk.mn over 81% of the Masternodes are now running v11.x, does that mean enforcement is turned back on?

No information on that report.

[GhostPlayer]

Friendly Sunday Epileptic Disco Reminder  

Update to v.011.0.13 ASAP please...

- This includes the full fix to the segfault issue from Bitcoin.

https://darkcointalk.org/threads/0-11-0-darkcoin-core-release.3601

 No complaints so far, pretty soon enforcement hammer shall strike, and off to InstantX !


 

[oaxaca]

...
payment processors will be interested only in reliability, not clearing times.
...

80% of the world will be interested only in clearing times, not payment processors.  You know, that whole centralized vs. decentralized thingy.

...
DRK needs to continue to shadow Bitcoin in this regard as long as it remains the reference standard, and keep the 20 seconds in its pocket for a rainy day.
...

Why would a rainy day be a better time to unleash "instant" transactions if today is not that day?

[eahmadov]

3 hours till Greek election results. Whole Europe is holding their breath for this. Expect a major jump in Bitcoin price within the next 3 hours.

[toknormal]

I think you are a little confused about how InstantX works, InstantX just locks a transaction in place for a period of time, it is secured in the blockchain separately.

I was the wrong side of a "couple" of glasses of Saturday Riocha when I made those posts originally so I apologise if they sounded over assertive, all the same I still think there's something reassuring about having the mining network do the confirmations and for them to take a bit of time.

Look at it this way. Think of the masternode / blockchain configuration as a client-server architecture. The blockchain/miners are the server and the masternode network the client.

Right now, there is an elegant delineation of responsibility where ththe "client" and "server" are reasonably independent. Also, the mining process is the aspect of the architecture that provides consensus AND buries transactions in the blockchain. I just thought that making the masternode network responsable for confirmations would create a nasty coupling between these two that may be regretted. And for what ? To save a few minutes off the confirmation time ?

If a need emerges for such urgency then it's a nice card to have up your sleeve but I can see as many problems as benefits from making it the default configuration of the Darkcoin architecture - namely it departs from the classic proof or work convention.

But as mentioned, I may not have a full enough understanding of what's proposed to properly jusge.

[Lebubar]

Thanks to UdjinM6 we have a more specific MN payments schedule overview : https://github.com/darkcoin/darkcoin/commit/f3710ec4de72d15a83652de1bc8d6d42c1739198
(with recalculated dates and also the blocknumbers are mentioned at which the MN payment increase comes into effect) :

if(nHeight > 158000)                         ret += blockValue / 20; // 158000 - 25.0% - 2014-10-24
if(nHeight > 158000+((576*30)* 1))  ret += blockValue / 20; // 175280 - 30.0% - 2014-11-25
if(nHeight > 158000+((576*30)* 2))  ret += blockValue / 20; // 192560 - 35.0% - 2014-12-26
if(nHeight > 158000+((576*30)* 3))  ret += blockValue / 40; // 209840 - 37.5% - 2015-01-26
if(nHeight > 158000+((576*30)* 4))  ret += blockValue / 40; // 227120 - 40.0% - 2015-02-27
if(nHeight > 158000+((576*30)* 5))  ret += blockValue / 40; // 244400 - 42.5% - 2015-03-30
if(nHeight > 158000+((576*30)* 6))  ret += blockValue / 40; // 261680 - 45.0% - 2015-05-01
if(nHeight > 158000+((576*30)* 7))  ret += blockValue / 40; // 278960 - 47.5% - 2015-06-01
if(nHeight > 158000+((576*30)* 9))  ret += blockValue / 40; // 313520 - 50.0% - 2015-08-03
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; // 348080 - 52.5% - 2015-10-05
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; // 382640 - 55.0% - 2015-12-07
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; // 417200 - 57.5% - 2016-02-08
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; // 451760 - 60.0% - 2016-04-11

well done UdjinM6

And when did we'll have the 7% anually decrease? Because it seam that we didn't had it yet.

Edit: and what is the blockvalue / 20 that become blockvalue / 40 this year?

[eduffield]

Security Advisory for CoinShuffle and Darkwallet

https://darkcointalk.org/threads/security-advisory-for-coinshuffle-and-darkwallet.3736/

[thelonecrouton]

Thanks to UdjinM6 we have a more specific MN payments schedule overview : https://github.com/darkcoin/darkcoin/commit/f3710ec4de72d15a83652de1bc8d6d42c1739198
(with recalculated dates and also the blocknumbers are mentioned at which the MN payment increase comes into effect) :

if(nHeight > 158000)                         ret += blockValue / 20; // 158000 - 25.0% - 2014-10-24
if(nHeight > 158000+((576*30)* 1))  ret += blockValue / 20; // 175280 - 30.0% - 2014-11-25
if(nHeight > 158000+((576*30)* 2))  ret += blockValue / 20; // 192560 - 35.0% - 2014-12-26
if(nHeight > 158000+((576*30)* 3))  ret += blockValue / 40; // 209840 - 37.5% - 2015-01-26
if(nHeight > 158000+((576*30)* 4))  ret += blockValue / 40; // 227120 - 40.0% - 2015-02-27
if(nHeight > 158000+((576*30)* 5))  ret += blockValue / 40; // 244400 - 42.5% - 2015-03-30
if(nHeight > 158000+((576*30)* 6))  ret += blockValue / 40; // 261680 - 45.0% - 2015-05-01
if(nHeight > 158000+((576*30)* 7))  ret += blockValue / 40; // 278960 - 47.5% - 2015-06-01
if(nHeight > 158000+((576*30)* 9))  ret += blockValue / 40; // 313520 - 50.0% - 2015-08-03
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; // 348080 - 52.5% - 2015-10-05
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; // 382640 - 55.0% - 2015-12-07
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; // 417200 - 57.5% - 2016-02-08
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; // 451760 - 60.0% - 2016-04-11

well done UdjinM6

And when did we'll have the 7% anually decrease? Because it seam that we didn't had it yet.

Edit: and what is the blockvalue / 20 that become blockvalue / 40 this year?

'/20' means a 5% increase, 25%-30%-35%, '/40' means a 2.5% increase, 35%-37.5%-40%...

[oblox]

Thanks to UdjinM6 we have a more specific MN payments schedule overview : https://github.com/darkcoin/darkcoin/commit/f3710ec4de72d15a83652de1bc8d6d42c1739198
(with recalculated dates and also the blocknumbers are mentioned at which the MN payment increase comes into effect) :

if(nHeight > 158000)                         ret += blockValue / 20; // 158000 - 25.0% - 2014-10-24
if(nHeight > 158000+((576*30)* 1))  ret += blockValue / 20; // 175280 - 30.0% - 2014-11-25
if(nHeight > 158000+((576*30)* 2))  ret += blockValue / 20; // 192560 - 35.0% - 2014-12-26
if(nHeight > 158000+((576*30)* 3))  ret += blockValue / 40; // 209840 - 37.5% - 2015-01-26
if(nHeight > 158000+((576*30)* 4))  ret += blockValue / 40; // 227120 - 40.0% - 2015-02-27
if(nHeight > 158000+((576*30)* 5))  ret += blockValue / 40; // 244400 - 42.5% - 2015-03-30
if(nHeight > 158000+((576*30)* 6))  ret += blockValue / 40; // 261680 - 45.0% - 2015-05-01
if(nHeight > 158000+((576*30)* 7))  ret += blockValue / 40; // 278960 - 47.5% - 2015-06-01
if(nHeight > 158000+((576*30)* 9))  ret += blockValue / 40; // 313520 - 50.0% - 2015-08-03
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; // 348080 - 52.5% - 2015-10-05
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; // 382640 - 55.0% - 2015-12-07
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; // 417200 - 57.5% - 2016-02-08
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; // 451760 - 60.0% - 2016-04-11

well done UdjinM6

And when did we'll have the 7% anually decrease? Because it seam that we didn't had it yet.

Edit: and what is the blockvalue / 20 that become blockvalue / 40 this year?

'/20' means a 5% increase, 25%-30%-35%, '/40' means a 2.5% increase, 35%-37.5%-40%...

And to add to that, the ~7% happens annually every (576x365) 210,240 blocks.

[thelonecrouton]

Security Advisory for CoinShuffle and Darkwallet

https://darkcointalk.org/threads/security-advisory-for-coinshuffle-and-darkwallet.3736/

Thank you Aswan! 

[Lebubar]

Thanks to UdjinM6 we have a more specific MN payments schedule overview : https://github.com/darkcoin/darkcoin/commit/f3710ec4de72d15a83652de1bc8d6d42c1739198
(with recalculated dates and also the blocknumbers are mentioned at which the MN payment increase comes into effect) :

if(nHeight > 158000)                         ret += blockValue / 20; // 158000 - 25.0% - 2014-10-24
if(nHeight > 158000+((576*30)* 1))  ret += blockValue / 20; // 175280 - 30.0% - 2014-11-25
if(nHeight > 158000+((576*30)* 2))  ret += blockValue / 20; // 192560 - 35.0% - 2014-12-26
if(nHeight > 158000+((576*30)* 3))  ret += blockValue / 40; // 209840 - 37.5% - 2015-01-26
if(nHeight > 158000+((576*30)* 4))  ret += blockValue / 40; // 227120 - 40.0% - 2015-02-27
if(nHeight > 158000+((576*30)* 5))  ret += blockValue / 40; // 244400 - 42.5% - 2015-03-30
if(nHeight > 158000+((576*30)* 6))  ret += blockValue / 40; // 261680 - 45.0% - 2015-05-01
if(nHeight > 158000+((576*30)* 7))  ret += blockValue / 40; // 278960 - 47.5% - 2015-06-01
if(nHeight > 158000+((576*30)* 9))  ret += blockValue / 40; // 313520 - 50.0% - 2015-08-03
if(nHeight > 158000+((576*30)*11)) ret += blockValue / 40; // 348080 - 52.5% - 2015-10-05
if(nHeight > 158000+((576*30)*13)) ret += blockValue / 40; // 382640 - 55.0% - 2015-12-07
if(nHeight > 158000+((576*30)*15)) ret += blockValue / 40; // 417200 - 57.5% - 2016-02-08
if(nHeight > 158000+((576*30)*17)) ret += blockValue / 40; // 451760 - 60.0% - 2016-04-11

well done UdjinM6

And when did we'll have the 7% anually decrease? Because it seam that we didn't had it yet.

Edit: and what is the blockvalue / 20 that become blockvalue / 40 this year?

'/20' means a 5% increase, 25%-30%-35%, '/40' means a 2.5% increase, 35%-37.5%-40%...

And to add to that, the ~7% happens annually every (576x365) 210,240 blocks.

Thanks and thanks,
Oh I guess I leave my brain in stand by mode this morning ( for the 20 and 40) both will arrive soon...

[eduffield]

Security Advisory for CoinShuffle and Darkwallet

I've posted the security advisory on r/Bitcoin, so far it's just getting downvoted. Can we get some upvotes? It's getting downvoted just because it's from a competing currency, however, they should know that all of the mixing technologies they have presently are broken.

http://www.reddit.com/r/Bitcoin/comments/2tmopl/security_advisory_for_coinshuffle_and_darkwallet/

[splawik21]

Security Advisory for CoinShuffle and Darkwallet

I've posted the security advisory on r/Bitcoin, so far it's just getting downvoted. Can we get some upvotes? It's getting downvoted just because it's from a competing currency, however, they should know that all of the mixing technologies they have presently are broken.

http://www.reddit.com/r/Bitcoin/comments/2tmopl/security_advisory_for_coinshuffle_and_darkwallet/

Please RT

https://twitter.com/splawik21/status/559414630528090112

[toknormal]

********* Amber Alert in Euro Debt bubble Land ***********

Box of pins spotted on the horizon...



http://www.zerohedge.com/news/2015-01-25/greek-exit-polls-hint-massive-victory-syriza-live-webcast

http://www.bbc.com/news/live/world-europe-30975663