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

[ciocgun]

I would love to see darkcoin on BTER.
Any chance?

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https://bter.com/signup/123782

nice spam

[1714990797]

1714990797

[1714990797]

1714990797

[1714990797]

1714990797

[x0rcist]

[tinfoilhat mode]

It really looks some anti propaganda is going on against darkcoin.

It reminds me about a blogpost i stumbled on this weekend and gets deleted from a lot of resources that link to it or try to start a discussion about it.
Fits perfect to whats going on with Darkcoin the last week.

https://firstlook.org/theintercept/2014/02/24/jtrig-manipulation/

[/tinfoilhat mode]

[eduffield]

There has been some debate lately about the reward structure vs the early adopter advantage. To be clear, Darkcoin was pre-announced so all of the miners shared in the early mining. There were some issues with the block reward in the beginning, but it was still fair. We don’t have a huge percentage of the coins in existence like some users have purposed.  In fact, we gave away nearly 80,000 coins in the first week.

Originally we thought scarce was good, but the halving was added to the code later and was an obvious mistake, it doesn’t work well with the formulas we’re using to implement the mining reward structure.

I’ve been doing the math this morning and Darkcoin doesn’t need a halving structure at all. So I’m removing it:

https://github.com/evan82/darkcoin/commit/819ccd71cab84c3728d457b16d2679486f917394

The formula 2222222/(((Difficulty+2600)/9)^2) is actually well defined to handle lowering the reward steadily over a long period of time. It caps out about 5000 difficulty, if this isn’t high enough or slow enough we can revisit this later.

This change will put us way closer to the 84,000,000 coin maximum that we originally wanted. The maximum rewards per year will be 5.2M per year (25 every 2.5 minutes) and eventually only release 1.0M per year (5 every 2.5 minutes).

Thanks for the input and support

[JGCMiner]

There has been some debate lately about the reward structure vs the early adopter advantage. To be clear, Darkcoin was pre-announced so all of the miners shared in the early mining. There were some issues with the block reward in the beginning, but it was still fair. We don’t have a huge percentage of the coins in existence like some users have purposed.  In fact, we gave away nearly 80,000 coins in the first week.

Originally we thought scarce was good, but the halving was added to the code later and was an obvious mistake, it doesn’t work well with the formulas we’re using to implement the mining reward structure.

I’ve been doing the math this morning and Darkcoin doesn’t need a halving structure at all. So I’m removing it:

https://github.com/evan82/darkcoin/commit/819ccd71cab84c3728d457b16d2679486f917394

The formula 2222222/(((Difficulty+2600)/9)^2) is actually well defined to handle lowering the reward steadily over a long period of time. It caps out about 5000 difficulty, if this isn’t high enough or slow enough we can revisit this later.

This change will put us way closer to the 84,000,000 coin maximum that we originally wanted. The maximum rewards per year will be 13,140,000 per year (25 every 2.5 minutes) and eventually only release 2,628,000 per year (5 every 2.5 minutes).

Thanks for the input and support

Good on you. I think this is a really wise decision.   
However, this means a hard fork right?  From what block should we worry about updating our wallets?   

[humanitee]

words

Expect more dumping everyone, this coin just devalued.

[eduffield]

There has been some debate lately about the reward structure vs the early adopter advantage. To be clear, Darkcoin was pre-announced so all of the miners shared in the early mining. There were some issues with the block reward in the beginning, but it was still fair. We don’t have a huge percentage of the coins in existence like some users have purposed.  In fact, we gave away nearly 80,000 coins in the first week.

Originally we thought scarce was good, but the halving was added to the code later and was an obvious mistake, it doesn’t work well with the formulas we’re using to implement the mining reward structure.

I’ve been doing the math this morning and Darkcoin doesn’t need a halving structure at all. So I’m removing it:

https://github.com/evan82/darkcoin/commit/819ccd71cab84c3728d457b16d2679486f917394

The formula 2222222/(((Difficulty+2600)/9)^2) is actually well defined to handle lowering the reward steadily over a long period of time. It caps out about 5000 difficulty, if this isn’t high enough or slow enough we can revisit this later.

This change will put us way closer to the 84,000,000 coin maximum that we originally wanted. The maximum rewards per year will be 13,140,000 per year (25 every 2.5 minutes) and eventually only release 2,628,000 per year (5 every 2.5 minutes).

Thanks for the input and support

Good on you. I think this is a really wise decision.   
However, this means a hard fork right?  From what block should we worry about updating our wallets?   

It's a hard fork at block 210240. We'll release DarkSend before that happens which will also require an update to use, so no need to worry about updating just yet.

[JGCMiner]

words

Expect more dumping everyone, this coin just devalued.

A.K.A More for those of us that realize this coin is going somewhere. 

[fearcoka]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

[humanitee]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

This fucking sucks for people like me who bought in the past week, thinking the coin was rarer than it is now. I don't plan on selling, it just sucks knowing I could have gotten more.

[matt608]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

Are you sure that's the consequence of the modification?

[humanitee]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

Are you sure that's the consequence of the modification?

Read eduffield's text, that's what he is saying.

[x0rcist]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

This fucking sucks for people like me who bought in the past week, thinking the coin was rarer than it is now. I don't plan on selling, it just sucks knowing I could have gotten more.

I have to agree, everyone has a more then fair price atm to buy in on darktrain.

So this news is not a good thing after all things that happened in the last week... It makes this coin also heavy for inflation.

[matt608]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

"The maximum rewards per year will be 13,140,000 per year", it will many years for all those coins to be mined.  It doesn't make much difference to the current coin supply.  Still, I would prefer this not to go ahead.  Eduffield, why do we suddenly need more coins?

[JGCMiner]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

Are you sure that's the consequence of the modification?

Read eduffield's text, that's what he is saying.

True, but it is not like there is all of a sudden 70 million coins flooding the market.   This coin is mined very slowly compared to most alts... stop making it seem like the total number of coins is the only factor in determining its future value.  

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

"The maximum rewards per year will be 13,140,000 per year", it will many years for all those coins to be mined.  It doesn't make much difference to the current coin supply.  Still, I would prefer this not to go ahead.  Eduffield, why do we suddenly need more coins?

The max reward per year is actually 5,245,200  (25 coins x 24 blocks per hours x 24 hours per day x 364.25 days per year)

[anonymousxx1503]

words

Expect more dumping everyone, this coin just devalued.

A.K.A More for those of us that realize this coin is going somewhere. 

Either a string of the worst luck any coin has ever seen. (hacks, dumps at the same time)

Or someone actively working towards bringing this coin down. There's nothing wrong with this coin, it's well built, has actual new features, compared to 99% of all the clones popping up and will be anonymous. You look at coinmarketcap and it's almost all green everywhere today for almost every coin.

Biggest loser right now, Darkcoin , after that ... RON fucking Paul Coin. Flappycoin is up 135%, albeit to a smaller market cap. That scammy ultracoin is up too.

It's an upside down world right now. A lot of haters in this thread, saying give up. I wouldn't be surprised there's a private IRC chat room somewhere, few people putting in an effort to lower our value through various means. I'm not saying that's happening, just that I wouldn't surprised.

Fact is, Darkcoin is/will be better than almost anything out there. Point out the better options if you can.

[x0rcist]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

Are you sure that's the consequence of the modification?

Read eduffield's text, that's what he is saying.

True, but it is not like there is all of a sudden 70 million coins flooding the market.   This coin is mined very slowly compared to most alts... stop making it seem like the total number of coins is the only factor in determining its future value.  

The total coin supply is one of the biggest inputs about the coins future value!!

[eduffield]

Official Press Release

http://www.darkcoin.io/downloads/DarkcoinPRStatement.pdf

[anonymousxx1503]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

This fucking sucks for people like me who bought in the past week, thinking the coin was rarer than it is now. I don't plan on selling, it just sucks knowing I could have gotten more.

Around 5000 in difficulty , the block reward hits 5 coins (the minimum(, which means 1 051 200 DRK a year. let's say there's 4.5 million out at the end of 2014, that means the coin will reach the max in  75 years .. It's not exactly DOGECOIN with 100 billion

[humanitee]

How did this coin just devalue?  Not sure if srs.

Yes its going downhill a bit but patience is virtue

Instead of them being rare at ~10 million coins, now we are going towards the full ~80 million, an 8 fold increase.

Are you sure that's the consequence of the modification?

Read eduffield's text, that's what he is saying.

True, but it is not like there is all of a sudden 70 million coins flooding the market.   This coin is mined very slowly compared to most alts... stop making it seem like the total number of coins is the only factor in determining its future value.  

The total coin supply is one of the biggest inputs about the coins future value!!

Thank you. I facepalmed so hard reading that.

I'm not here to bash DRK, I fucking love the idea behind this coin. But less than a week ago I paid top dollar for the coin thinking it was going to be much more rare in the future, which is apparently no longer the case. It was so tempting to double down yesterday, glad I didn't do it.

[matt608]

Official Press Release

http://www.darkcoin.io/downloads/DarkcoinPRStatement.pdf

Great, thanks for the update!