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

[kaene]

clearly a mistake...

With all the damning evidence released clearly showing the instamine was obviously intentional........

"evidence"?  I'll try to reply to a troll

I was there during the "instamine", go check the first pages of this thread and you will see me complaining and discussing.

Evan updated the code many times during the first hours/days because various mistakes. I had some talks in IRC with him during the first days/weeks, and my conclusion was that the instamine happened because he just wasn't very familiarized with Bitcoin codebase and he didn't test his coin properly before launch, plus, at that time most coins were launched without a proper difficulty adjustment algorithm (Kimoto's Gravity Well was fresh new at that time and most coins didn't include it at launch).

I also saw his nickname mining in pools, he didn't even ranking top 10 of the miners (and pools had most of network's hashrate), at that time people didn't hide their nicknames in pools and you were used to see always the same names.

Moreover, if you spend some minutes analyzing the blockchain and you follow the first 1-10 mined blocks (those that are clearly mined by the dev) you will see that eventually they all go to the same addresses, with many other blocks and coins coming from pool-mining, and finally these after weeks don't account for more than 80k XCoins (about 2BTC at the time). I guess that's why he tried to buy some more, and he made it publicly (of course people like you would had thought he was hyping it to then dump his coins at higher price). https://bitcointalk.org/index.php?topic=421615.msg4961359#msg4961359

But the most important, the instamine didn't matter, if anything, it helped with the distribution, and the reason is because during the first weeks of life of XCoin you could buy 100k XCoin for just 2.5BTC - 5BTC, so everyone had his chance for weeks to decide to risk and buy or just sell (I myself sold more than 50k XCoin for less than 2BTC, and decided to buy some back later more expensive):

https://bitcointalk.org/index.php?topic=421615.msg4889177#msg4889177
https://bitcointalk.org/index.php?topic=421615.msg4872871#msg4872871
https://bitcointalk.org/index.php?topic=421615.msg4867363#msg4867363

Next time you talk about the instamine, understand that those of us who don't care about it is because we understand what happened (can't say the same about you or others just repeating the same over and over without proper knowledge or analysis). We judge XCoin-Darkcoin-DASH (and Evan) for 20 months of upgrades, delivering promises and innovation, and we invest in it because we know it will continue delivering.

[dEBRUYNE]

Withdrew a few hundred DASH from Cryptsy, no problems. Maybe the amount was small enough, maybe I got lucky, or maybe their problems aren't DASH related.

If we assume they are running some kind of fractional reserve, DASH is probably the best way to get out, since there are a lot of DASH put up in the asks. There is that ~12k wall for instance @ ~0.01 and if I recall correctly there was a similiar size wall around ~0.0111.

[smoothie]

it is possible that Cryptsy wanted to sucker new users with the following tweet:

"BigVern ‏@cryptsy  Oct 2
Come enjoy the ZERO fee trading at http://Cryptsy.com !"


Right before they start having issues.

Kind of sketchy. Hope everyone gets their funds out.

[megges]

clearly a mistake...

With all the damning evidence released clearly showing the instamine was obviously intentional........

"evidence"?  I'll try to reply to a troll

I was there during the "instamine", go check the first pages of this thread and you will see me complaining and discussing.

Evan updated the code many times during the first hours/days because various mistakes. I had some talks in IRC with him during the first days/weeks, and my conclusion was that the instamine happened because he just wasn't very familiarized with Bitcoin codebase and he didn't test his coin properly before launch, plus, at that time most coins were launched without a proper difficulty adjustment algorithm (Kimoto's Gravity Well was fresh new at that time and most coins didn't include it at launch).

I also saw his nickname mining in pools, he didn't even ranking top 10 of the miners (and pools had most of network's hashrate), at that time people didn't hide their nicknames in pools and you were used to see always the same names.

Moreover, if you spend some minutes analyzing the blockchain and you follow the first 1-10 mined blocks (those that are clearly mined by the dev) you will see that eventually they all go to the same addresses, with many other blocks and coins coming from pool-mining, and finally these after weeks don't account for more than 80k XCoins (about 2BTC at the time). I guess that's why he tried to buy some more, and he made it publicly (of course people like you would had thought he was hyping it to then dump his coins at higher price). https://bitcointalk.org/index.php?topic=421615.msg4961359#msg4961359

But the most important, the instamine didn't matter, if anything, it helped with the distribution, and the reason is because during the first weeks of life of XCoin you could buy 100k XCoin for just 2.5BTC - 5BTC, so everyone had his chance for weeks to decide to risk and buy or just sell (I myself sold more than 50k XCoin for less than 2BTC, and decided to buy some back later more expensive):

https://bitcointalk.org/index.php?topic=421615.msg4889177#msg4889177
https://bitcointalk.org/index.php?topic=421615.msg4872871#msg4872871
https://bitcointalk.org/index.php?topic=421615.msg4867363#msg4867363

Next time you talk about the instamine, understand that those of us who don't care about it is because we understand what happened (can't say the same about you or others just repeating the same over and over without proper knowledge or analysis). We judge XCoin-Darkcoin-DASH (and Evan) for 20 months of upgrades, delivering promises and innovation, and we invest in it because we know it will continue delivering.

*thumbsup*

i'm in the same boat.

To throw some more evidence, that it's like you said - "he just wasn't very familiarized with Bitcoin codebase" - i quoted an old post from me below!

It totally fits to his story, in the beginning it was just a project for fun, and the error with the instamine did not matter. There was no plan to "restart" the coin, because it was just pure fun, with not much value! Some trolls are telling us that if it was an error, he should have just "reset" the blockchain, but why? There was no reason to, the value was peanuts!
Who would think that xcoin would get this big someday? Surley not we, the miners from the beginning, that's why many of us dumped the "instamined" xcoins for cents! And anybody had equally chances to buy big loads of coins for cents. And that's what i think happened, we have formed a big user base, because of the instamine and the ridiculous prices and huge supply in the beginning and that's the most important point for a working currency, a huge user base!!

If someone should cry about the instamine, it should probably be me - because i was one of these "instaminers" who sold 100k coins for cents instead of millions

- Block reward controlled by moores law ( 1111 / (diff+1 ^ 2))

This is not working, right? I'm getting 500 coins as reward

see all function in source )))

Code:

 
 int64 static GetBlockValue(int nBits, int64 nFees)
{
    double dDiff =
        (double)0x0000ffff / (double)(nBits & 0x00ffffff);

    int64 nSubsidy = (1111 / (pow((dDiff+1),2)));
    if (nSubsidy > 500) nSubsidy = 500;
    if (nSubsidy < 1) nSubsidy = 1;
    nSubsidy *= COIN;

    return nSubsidy + nFees;
}

so i guess we have unlimited coins, dind't find your 84 mio max coins there !!!!!!!

Code:

static const int64 MAX_MONEY = 84000000 * COIN;

--> COINS that can be max in wallet/transaction - this has almost nothing to do with the cap, because the COIN cap is calculated from the blockvalue!!

Code:

if (txout.nValue > MAX_MONEY)
            return state.DoS(100, error("CTransaction::CheckTransaction() : txout.nValue too high"));

that checks transactions for MAX_MONEY but there isn't any check that prevents us from mining more than 84 mio coins !!

[DefendKebab]

it is possible that Cryptsy wanted to sucker new users with the following tweet:

"BigVern ‏@cryptsy  Oct 2
Come enjoy the ZERO fee trading at http://Cryptsy.com !"


Right before they start having issues.

Kind of sketchy. Hope everyone gets their funds out.

Whats wrong with cryptsy, did i missed something 

[RenegadeMan]

it is possible that Cryptsy wanted to sucker new users with the following tweet:

"BigVern ‏@cryptsy  Oct 2
Come enjoy the ZERO fee trading at http://Cryptsy.com !"


Right before they start having issues.

Kind of sketchy. Hope everyone gets their funds out.

Whats wrong with cryptsy, did i missed something 

A few people are having problems getting their funds out of Cryptsy. It seems like the bigger the transfer request, the more likelihood of delays and difficulties. Read this initial post from Otoh (link below); he's having difficulties with many 10s of thousands of $US worth and he's not getting responded to by Cryptsy's support. It's a worrying situation so care is called for if sending funds to Cryptsy or you already have some there.

https://bitcointalk.org/index.php?topic=421615.msg12671376#msg12671376

[DefendKebab]

it is possible that Cryptsy wanted to sucker new users with the following tweet:

"BigVern ‏@cryptsy  Oct 2
Come enjoy the ZERO fee trading at http://Cryptsy.com !"


Right before they start having issues.

Kind of sketchy. Hope everyone gets their funds out.

Whats wrong with cryptsy, did i missed something 

A few people are having problems getting their funds out of Cryptsy. It seems like the bigger the transfer request, the more likelihood of delays and difficulties. Read this initial post from Otoh (link below); he's having difficulties with many 10s of thousands of $US worth and he's not getting responded to by Cryptsy's support. It's a worrying situation so care is called for if sending funds to Cryptsy or you already have some there.

https://bitcointalk.org/index.php?topic=421615.msg12671376#msg12671376

Anyone made succesfull BTC witdraws from Cryptsy last days ?

[arloseb]

it is possible that Cryptsy wanted to sucker new users with the following tweet:

"BigVern ‏@cryptsy  Oct 2
Come enjoy the ZERO fee trading at http://Cryptsy.com !"


Right before they start having issues.

Kind of sketchy. Hope everyone gets their funds out.

Whats wrong with cryptsy, did i missed something 

A few people are having problems getting their funds out of Cryptsy. It seems like the bigger the transfer request, the more likelihood of delays and difficulties. Read this initial post from Otoh (link below); he's having difficulties with many 10s of thousands of $US worth and he's not getting responded to by Cryptsy's support. It's a worrying situation so care is called for if sending funds to Cryptsy or you already have some there.

https://bitcointalk.org/index.php?topic=421615.msg12671376#msg12671376

Anyone made succesfull BTC witdraws from Cryptsy last days ?

Defenderkebab?

Very good avatar and name. I like it. 

[BiteMyShinyMetalAss]

Wish Bitfinex hanged for a bit longer, now the volume would have increased drastically...  I loved that exchange!

[ddink7]

I would suggest that part of Dash's price decline is due to people just honestly needing the money for other stuff. Even if you didn't invest more than you could (at the time) afford to lose, circumstances change over the years and sometimes it's necessary to partially cash out and hope you can buy back in later. I have done this and I know several others have as well. Fortunately I've been able to buy back in later, but if you're in a temporary cash crunch, sometimes selling your Dash is all you can do. Anyway, I think that's part of the reason.

[Jestah]

I would suggest that part of Dash's price decline is due to people just honestly needing the money for other stuff. Even if you didn't invest more than you could (at the time) afford to lose, circumstances change over the years and sometimes it's necessary to partially cash out and hope you can buy back in later. I have done this and I know several others have as well. Fortunately I've been able to buy back in later, but if you're in a temporary cash crunch, sometimes selling your Dash is all you can do. Anyway, I think that's part of the reason.

I'm thinking it could be our favorite trojan miner dude grabbing some regular cash.  Would like to see the wallet address all that DASH is being sent to. 

[Creat0r]

Hi!

My name is Konstantin. I'm cyber•Fund co-founder.
I'm happy to announce now Dash is available in cyber•Fund real time portfolio tracker. So you can easy control your portfolio valuation of Dash and other cryptoasset that you have in real time.

Look how we do it with our funds - https://cyber.fund/@satoshi_fund

If you are a developer you can easy improve Dash main page using Chaingear on github. Stellar, Dash and NuBits have already upgraded their page.

Also  don't forget to follow Dash on https://cyber.fund/system/Dash.

Thank you for your attention, I will be happy if you will use our service.
Konstantin Lomashuk

Please note you're using the old Darkcoin logo. You can get the new DASH logo from here https://www.dashpay.io/promotional-graphics

Also can you please explain how the ratings are worked out.

Thank you) Fix the Logo

The Rating methodology has not been ready yet.

Konstantin Lomashuk

[TanteStefana2]

Another nice account, thanks!

clearly a mistake...

With all the damning evidence released clearly showing the instamine was obviously intentional........

"evidence"?  I'll try to reply to a troll

I was there during the "instamine", go check the first pages of this thread and you will see me complaining and discussing.

Evan updated the code many times during the first hours/days because various mistakes. I had some talks in IRC with him during the first days/weeks, and my conclusion was that the instamine happened because he just wasn't very familiarized with Bitcoin codebase and he didn't test his coin properly before launch, plus, at that time most coins were launched without a proper difficulty adjustment algorithm (Kimoto's Gravity Well was fresh new at that time and most coins didn't include it at launch).

I also saw his nickname mining in pools, he didn't even ranking top 10 of the miners (and pools had most of network's hashrate), at that time people didn't hide their nicknames in pools and you were used to see always the same names.

Moreover, if you spend some minutes analyzing the blockchain and you follow the first 1-10 mined blocks (those that are clearly mined by the dev) you will see that eventually they all go to the same addresses, with many other blocks and coins coming from pool-mining, and finally these after weeks don't account for more than 80k XCoins (about 2BTC at the time). I guess that's why he tried to buy some more, and he made it publicly (of course people like you would had thought he was hyping it to then dump his coins at higher price). https://bitcointalk.org/index.php?topic=421615.msg4961359#msg4961359

But the most important, the instamine didn't matter, if anything, it helped with the distribution, and the reason is because during the first weeks of life of XCoin you could buy 100k XCoin for just 2.5BTC - 5BTC, so everyone had his chance for weeks to decide to risk and buy or just sell (I myself sold more than 50k XCoin for less than 2BTC, and decided to buy some back later more expensive):

https://bitcointalk.org/index.php?topic=421615.msg4889177#msg4889177
https://bitcointalk.org/index.php?topic=421615.msg4872871#msg4872871
https://bitcointalk.org/index.php?topic=421615.msg4867363#msg4867363

Next time you talk about the instamine, understand that those of us who don't care about it is because we understand what happened (can't say the same about you or others just repeating the same over and over without proper knowledge or analysis). We judge XCoin-Darkcoin-DASH (and Evan) for 20 months of upgrades, delivering promises and innovation, and we invest in it because we know it will continue delivering.

[Icebucket]

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Brainstorm session for projects that could add value to Dash

All ideas welcome

https://dashtalk.org/threads/can-you-think-of-a-project-to-fund.6385/

How is this off topic
Whats up with the mod ?

[TanteStefana2]

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Brainstorm session for projects that could add value to Dash

All ideas welcome

https://dashtalk.org/threads/can-you-think-of-a-project-to-fund.6385/

How is this off topic
Whats up with the mod ?

Maybe because you unfortunately have a handle too similar to you-know-who's (NO! NOT Voldemort!!!) and the mod was going too fast?  Anyway, thanks for putting it back up, it needs a bump

[Icebucket]

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Brainstorm session for projects that could add value to Dash

All ideas welcome

https://dashtalk.org/threads/can-you-think-of-a-project-to-fund.6385/

How is this off topic
Whats up with the mod ?

Maybe because you unfortunately have a handle too similar to you-know-who's (NO! NOT Voldemort!!!) and the mod was going too fast?  Anyway, thanks for putting it back up, it needs a bump

lol.. I tryed searching my name the other day and found quite few people mixing me up with Voldemort. unfortunate indeed.. Ill just wait patently untill he goes to jail

[Taylor05]

Let's do some simple math, shall we? Let's assume that Evan was the ONLY miner for the first 500 blocks (that's the worst case scenario... you can't assume he mined more than 100%). If we simply determine the network hash rate for the first 100 blocks (using the networkhashps command in the Dash wallet), you can see that there was only 12.6kh/s... this is clearly one (very weak) CPU and the first 100 blocks were mined in a few minutes... it probably took some time to add the other machines he and his friends had at the ready. But from blocks 100-500 the average jumps to 711.2kh/s and appears pretty steady that whole time. Let's assume that this 711.2kh/s is Evan and his friends. They would have gotten about 245,000 of the first 250,000 coins mined (through block 500).

By block 500, things start to change. A few others are clearly joining them by this point, but assuming the 711 of the 895 kh/s were theirs from block 500-600, then they still got 79% of those blocks too (worth about 40,000 Dash). If you repeat this process to figure out the share of each block of 100 they got, you get something like the following:

EDIT: The coin start and coin finish are the beginning total coins in circulation and ending coins in circulation for each set of 100 blocks... so the difference is how many were created for each 100 block section... multiply that by the dev's share and you can see where I get the numbers from.


http://imgur.com/Se5USkw

Each row represents 100 blocks. As you can see, by about block 1,000, the hashrate was up dramatically... this is consistent with posts on BTC of many other miners saying they were up and running. There are a couple of points at which network hash drops, consistent with the fact that a couple of bug fixes went out which probably caused Evan and other miners to stop mining for a brief time to update. By block 2300, Evan and Co's share was probably less than 1% of the network hash rate, by which time these estimates would put them at about 511k coins. After that, there is little chance they got a decent share... maybe another 6,000 coins for the next 1,000 blocks, but basically the party was over by then, so to speak. So if you assume they got about 518k coins by the time they were consistently getting less than 1% of the coins, that represents less than 8.8% of the current number of coins in circulation... which is very consistent with the statements from Evan that "all of the founders" hold less than 10% of the current supply combined.

These assumptions are generous to the "instamine" haters for several reasons:

1) It assumes that Evan was the ONLY miner for the first 500 blocks, which we know isn't true. There was at least one other developer at that time, I believe a friend of Evan's, but I'm not sure... so the "instamine" would have been split at least between two people
2) It assumes no one else was mining for the first 500 blocks (which may be the case... we'll never know, but I make this assumption in the interests of being conservative)
3) It assumes that Evan and Co had absolutely no down time for updating their miners, which is impossible... any downtime would reduce these assumptions
4) It assumes that once huge amounts of mining power joined beginning at block 500 that Evan didn't start experiencing an elevated level of rejects... this is unlikely as well since blocks were being created so rapidly at that time - literally seconds apart on average - that he and many others reported rejects, getting on wrong chains, having to reset, etc. Evan would have no way to be immune to these issues caused by the rapid creation of the blocks and network latency, so the true "networkhashps" is clearly understated during that period because many blocks were rejected and not counted.
5) It assumes that he never sold any Dash

Based on the data, I see no reason to disbelieve Evan and the stated amount of coin that he has. In fact, the data seems to support everything he's said.

I made one meaningful error in this post that I'd like to correct, since I see that many other people are finding value in it and referencing it...

If you exclude the genesis block from the calculations on the first set of 100 blocks (since there is a time lag between the genesis block and actual mining), the hashrate average for my first set of 100 changes significantly (and the associated assumption that it was just one PC is no longer valid). Excluding block 1, the next 99 blocks averaged 395kh/s, NOT 12kh/s. So the first 100 blocks were clearly NOT mined on a single PC. This introduces further (though not much incremental) doubt that Evan was the only miner for the first 100 blocks. It was certainly more than one machine, though.

[qwizzie]

https://www.litebit.eu/coin/dash/en/

They added the community-created introduction video "What is Dash"
Nice.

edit : looks like they went from 14K to 6K directly available Dash stock

[PhattyBanks]

gonna be in trouble if some buy walls dont get put up

[tombtc]

Finally some good volume on poloniex. We've got a new leading exchange?