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

[GhostPlayer]

OK
Q. If MN's don't generate their own tokens how can tx's be properly secured after only 1 confirm?
Addendum: with/without a malicious MN secario

cheers

 Again... Absolutely all the answers you could ask are right here, written by non other than the creator of the coin, Evan Duffield.

 https://www.darkcoin.io/wp-content/uploads/2014/09/InstantTX.pdf

 TL:DR - The masternodes see the IX and give it a "stamp" of approval (tx lock), and then send it off to other MN's. So, many MNs see the same tx, and lock it. The network agrees. Funds are locked in consensus by the MN network, and can't be double spent. 1 PoW later, that tx gets registered in the ledger

 Now for the next FUD question....

[Minotaur26]

bump
@BrainShitdown
oblox disagrees

whats the answer pls?

The one you don't like  

The question is how long must I wait before being able to spend the funds received through an InstantX tx?

Clearly there is no consensus on the answer.

Evan or Dev Team member pls?

C'mon - this is EASY…

OK I will try this one last time for the benefit of Everyone  As I understood from Vertoe's interview and UdjinM6 answer

You can spend funds you received from an InstantX transaction after 1 block confirmation. How much time this is depends on how long after you receive an InstantX a block is confirmed, so it should be no more than 2.5 minutes after you received the InstantX but could be less.

That is what the theory says, users have reported being able to normal send right after an InstantX transaction, so feel free to try. In any case it will never be more that 1 block confirmation time.

Not that this matter anyway this is a pointless discussion, as  again InstantX is designed for the benefit of the customer:

InstantX is designed for the customer the other part is irrelevant. You walk into a store, you grab something, you pay and in 4 seconds you leave.  You are in a subway station you buy something and as you are buying something on a vending machine your train arrives, you pay and you leave, the vending machine is not going anywhere it is you the customer who now has the freedom to leave quickly with your goods.

You deposit coins into an exchange InstantX locks that deposit after 4 seconds,  the exchange can make the balance available in your account immediately after a few seconds, as they have certainty of ownership.  They are not offering this yet as it is a new technology and they will let it mature for a while, but no doubt someone will offer an Instant deposit in the future and maybe charge a premium.


EDIT: This is only my understanding as a user I am not a developer. Also I wont comment on this again.

OK
Q. If MN's don't generate their own tokens how can tx's be properly secured after only 1 confirm?
Addendum: with/without a malicious MN secario

cheers

HERE IS YOUR ANSWER. This is from a recent interview with Vertoe an official developer. The interview was in german so this is a google translate, but answers your question entirely:

"The latest innovation is InstantX, which translates freely available for instant transfer. It is possible at almost no cost, in just a few seconds to send transactions around the globe. Users report that it takes about 3-7 seconds until a transaction is 5 times confirmed. For comparison: Bitcoin need 10 minutes for a confirmation. The rapid confirmation comes from 20 randomly selected master nodes and is confirmed in a second stage of the miners in the final block chain. A successful InstantX transaction is treated as 5 confirmations on the network. If I want to send, for example Darkcoins an exchange club, and the Exchange the coins after 6 confirmations my account write me well, then I use the best InstantX. This will take less than 10 seconds for the first 5 confirmations and again 1-2 minutes for the next block. So I have just 2 minutes there and my coins on the exchange market fully available and does not have to wait the full 6 blocks of the Miner it."

This should be of benefit to everyone.

[GhostPlayer]

 I just know kindergarten level german, but boy does google translator struggle with it!! 

[dewdeded]

Is there an independent InstantX-review/audit?

[Honest Tim]

In support of all the positive, back and forth constructive energy Child Harold has brought to the table, I feel honored to quote him in my signature. I have been procrastinating over sorting my sig out, but finally I have found something deserving. I even feel more inclined to "post like a bastard", now I can effortlessly reproduce these words without effort.

You see Harold, there was you thinking you can't inspire others with your positivity. Well I find your words inspiring and I want to share, share, share.


Share like I just don't care!


https://bitcointalk.org/index.php?topic=421615.msg5424980#msg5424980

[ddink7]

Is there an independent InstantX-review/audit?

It's open source...go for it!

[PhattyBanks]

whats going on guys I have phone alarms going off all over the place

[MasterMined710]

bump
@BrainShitdown
oblox disagrees

whats the answer pls?

The one you don't like  

The question is how long must I wait before being able to spend the funds received through an InstantX tx?

Clearly there is no consensus on the answer.

Evan or Dev Team member pls?

C'mon - this is EASY…

OK I will try this one last time for the benefit of Everyone  As I understood from Vertoe's interview and UdjinM6 answer

You can spend funds you received from an InstantX transaction using normal send after 1 block confirmation. How much time this is depends on how long after you receive an InstantX a block is confirmed, so it should be no more than 2.5 minutes after you received the InstantX but could be less.

That is what the theory says, users have reported being able to normal send right after an InstantX transaction, so feel free to try. In any case it will never be more that 1 block confirmation time.

Not that this matter anyway this is a pointless discussion, as  again InstantX is designed for the benefit of the customer:

InstantX is designed for the customer the other part is irrelevant. You walk into a store, you grab something, you pay and in 4 seconds you leave.  You are in a subway station you buy something and as you are buying something on a vending machine your train arrives, you pay and you leave, the vending machine is not going anywhere it is you the customer who now has the freedom to leave quickly with your goods.

You deposit coins into an exchange InstantX locks that deposit after 4 seconds,  the exchange can make the balance available in your account immediately after a few seconds, as they have certainty of ownership.  They are not offering this yet as it is a new technology and they will let it mature for a while, but no doubt someone will offer an Instant deposit in the future and maybe charge a premium.


EDIT: This is only my understanding as a user I am not a developer. Also I wont comment on this again.

great answer! so 4 seconds to receive a instantx and after 1 block you can turn around and spend it. that's definitely not the answer the child wanted, he wanted it to be 15min so he could have something to complain about, sorry bro.
it can be as fast as 30 seconds but no longer than 2.5 min, awesome!

when you receive a transaction it's gonna take you atleast 30 sec just to open the address book and select who you want to send to, then add the amount you want to send, then click send and type in your password, so yeah pretty much immediately after you get it you can spend it.
one of the devs integrated keepass into the wallet so that will make things easier and speed things up a bit compared to other coins.

[ImI]

whats going on guys I have phone alarms going off all over the place

buywalls have been pulled

[strix]

Masternode revenue calculation. (EDIT: are we at 37,5% already?)

 There are 576 blocks mined per day. Each block rewards a minimum of 5 DRKs (probably will never go up)
 Right now, MN's earn 35% of each block, so from those 5 DRKs = 3,25 go to miners + 1,75 to MN's

 576 blocks per day, so each day (576*5 = 2880 * 0,35) = 1008 DRK for MN's.

 There are currently around 1917 active masternodes according to QT (probably more, many people updating)

 So 1008 DRK / 1917 MN = 0,582 DRK per node, per day... but you only get payed in blocks of 1,75 DRKs.
 So you can expect (1,75 / 0,5852 ) one payment of 1,75 DRK every 2,99 days.

 This is right now, but soon the MN cut will increase. So please feel free to recalculate these values based on number of active MN and the following roadmap



 

Just one thing the minimum block reward is now 4.65 DRK, DRK minimum block reward decreases by 7% each year. And yes we are 37.5% for Masternodes, should go to 40% towards the end of February

Just a suggestion... In view of the fact that we are already over 2,000 MNs (when done updating) and that Evan's target is 3,000; shouldn't we get rid of the 1,000 MN column and add three and four thousand MN. columns?

Just thinking.

[xxxgoodgirls]

Major correction!

[qwizzie]

whats going on guys I have phone alarms going off all over the place

buywalls have been pulled

nope.. they were set back to 0.010 & 0.011 due to some heavy dumping

http://dc-charts.com/depth_drk.php?ex=9&cu=0&sw=2&tz=5&ar=0&dl=2&js=1&sc=0&ba=2&re=1
http://dc-charts.com/depth_drk.php?ex=2&cu=0&sw=2&tz=5&ar=0&dl=2&js=1&sc=0&ba=2&re=0

[Otoh]

whats going on guys I have phone alarms going off all over the place

buywalls have been pulled

nope.. they were set back to 0.011 due to some heavy dumping

The retrace target is 0.01 so I moved them from 0.012 to 0.011 (0.01 on finex and increased the wall size by 50 BTC), this is a healthy correction and I have BTC on hand for a market buy at these levels if I feel it's at a good price.

[qwizzie]

whats going on guys I have phone alarms going off all over the place

buywalls have been pulled

nope.. they were set back to 0.011 due to some heavy dumping

The retrace target is 0.01 so I moved them from 0.012 to 0.011 ( 0.01 on finex and increased the wall size by 50 BTC)

thanks for your explanation

[thevictimofuktyranny]

whats going on guys I have phone alarms going off all over the place

buywalls have been pulled

nope.. they were set back to 0.010 & 0.011 due to some heavy dumping

Thanks for that info

[ImI]

whats going on guys I have phone alarms going off all over the place

buywalls have been pulled

nope.. they were set back to 0.011 due to some heavy dumping

The retrace target is 0.01 so I moved them from 0.012 to 0.011 (0.01 on finex and increased the wall size by 50 BTC), this is a healthy correction and I have BTC on hand for a market buy at these levels if I feel it's at a good price.

i like your enthusiasm about DRK, nevertheless i dont like that it looks like this whole rally seems to be funded by your walls. remove your walls and we are back at 0.006.

[child_harold]

OK guys - im sorry about this. ill try to make it as simple as possible (bearing in mind i dont wanna read all the literature here).

A. How long after I receive an IntantX tx can I re-spend the SAME funds?
B. Do MN's generate their own tokems to facilitate the re-spend "prematurely" ?
C. If not B (see above) how can tx's be properly verified without a token substrate after only 1 confirm?

D. Assuming B. and C. are good: Do MN's see all flow of traffic in DRK. i.e. Do MN's "see" basic DRK>DRk spends??
Assuning they can re-spend after only 1 confirm then… yes?

[Otoh]

whats going on guys I have phone alarms going off all over the place

buywalls have been pulled

nope.. they were set back to 0.011 due to some heavy dumping

The retrace target is 0.01 so I moved them from 0.012 to 0.011 ( 0.01 on finex and increased the wall size by 50 BTC)

thanks for your explanation

YVW! I've also added a new wall of 16,812 DRK @ $2.50 on finex btw



http://dc-charts.com/depth_drk.php?ex=9&cu=1

[orangecycle]

whats going on guys I have phone alarms going off all over the place

buywalls have been pulled

nope.. they were set back to 0.011 due to some heavy dumping

The retrace target is 0.01 so I moved them from 0.012 to 0.011 (0.01 on finex and increased the wall size by 50 BTC), this is a healthy correction and I have BTC on hand for a market buy at these levels if I feel it's at a good price.

Moving my meager buy walls to 1 duff more than Otoh. 

[qwizzie]

OK guys - im sorry about this. ill try to make it as simple as possible (bearing in mind i dont wanna read all the literature here).

A. How long after I receive an IntantX tx can I re-spend the SAME funds?
B. Do MN's generate their own tokems to facilitate the re-spend "prematurely" ?
C. If not B (see above) how can tx's be properly verified without a token substrate after only 1 confirm?

D. Assuming B. and C. are good: Do MN's see all flow of traffic in DRK. i.e. Do MN's "see" basic DRK>DRk spends??

do you want the answers from us or from the dev team ? to avoid any confusion

A from us
B from the dev team
C from God

in what time-period do you want those answers ?

A take your time
B yesterday
C i have to think about it

how do you want those answers ?

A per mail
B per letter
C through InstantX

Will you be satisfied with those answers ?

A yes
B no
C maybe