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

[CHAOSiTEC]

Can you explain what happened?

i have a theory <-- how the bleep do you spell that...

he used an unusual password, and that might have cause some problems for the windows client

or,

its a glitch somewhere else

Well, thank goodness we have you!  If it's a glitch, I hope it'll be found or else you will have to quit your day job and take care of us clients the rest of your life, LOL

actually, then i wont have anything to live of.. i declined to be paid...

instead i asked him to "Pay It Forward"

[eizh]

eduffield,

I noticed you took ASIC-resistant out of the title. It's what attracted me here and, IMO, it should be kept there at all times and is the second most important feature of DRK. Certainly more than KGW, which is becoming common nowadays. VTC has shown that there's a demand for ASIC-resistance so DRK might as well advertise it.

[elbereth]

Bought my first DRKs yesterday from Cryptsy. \o/
A pitty I could not buy more as the price is really low (not as low as on poloniex but low anyway).

[TanteStefana]

Can you explain what happened?

i have a theory <-- how the bleep do you spell that...

he used an unusual password, and that might have cause some problems for the windows client

or,

its a glitch somewhere else

Well, thank goodness we have you!  If it's a glitch, I hope it'll be found or else you will have to quit your day job and take care of us clients the rest of your life, LOL

actually, then i wont have anything to live of.. i declined to be paid...

instead i asked him to "Pay It Forward"

You're a good boy       That's why we love you!

[TanteStefana]

Bought my first DRKs yesterday from Cryptsy. \o/
A pitty I could not buy more as the price is really low (not as low as on poloniex but low anyway).

Oh, me too!  I know how you feel!!!

I suspect that no matter how many you have, you're gonna wish you had more in the months/years ahead, LOL

Then again, I might be dreaming WAY too hard, LOL.

[montecristo83]

eduffield,

I noticed you took ASIC-resistant out of the title. It's what attracted me here and, IMO, it should be kept there at all times and is the second most important feature of DRK. Certainly more than KGW, which is becoming common nowadays. VTC has shown that there's a demand for ASIC-resistance so DRK might as well advertise it.

+1

Resistance against industrial miners is more important than multipool resistance IMO. KGW, or something similar to it, is becoming the norm nowadays anyway.

Big up to Chaos for helping that fellow sort out the wallet issue! (You spelt 'theory' correctly BTW.)

[matt608]

is now a good time to buy? Haven't really followed anything dark related

It's a great time to buy. DarkCoin is not a hype and pump/dump coin. It has attracted attention through actual value by means of the soon-to-be-beta (actually-in-alpha) DarkSend functionality (in addition to 11 different hashing algorithms which make it ASIC resitant, Kimoto Gravity Well (KGW) which makes it safe from multipools for example and adjusts difficulty every block and a great professional developer). This new feature will allow you to send coins anonymously directly from the wallet without passing by TOR (darkweb) or through a mixing service which requires trust in the operator of said service and also involve fees (2%). It is a trustless solution straight from the wallet and it will be the first coin to achieve such a feat. It experienced natural growth, going from around 0.00005 BTC when first hitting markets to 0.0025 BTC without any kind of useless hype (e.g. Maxcoin).

If you look at the price now though, it is quite a bit lower, ranging from 0.001 to 0.0014 depending on the market. What happened? One of the exchanges on which DRK trades (C-CEX) had a malfunction/hack which allowed a user to gain access to hundreds of BTC for free, which he couldn't cash out. He figured out that by buying DarkCoin, he could then transfer it out of the exchange easily, this caused a huge spike in buys since he put in around 300 BTC worth and bought up all DarkCoins up until 0.0075 BTC or 7.5 millibits. He then proceeded to transfer all those coins to another exchange (Poloniex) and started dumping as much as possible, as quickly as possible, with no regard for price. This caused a chain reaction which lasted for around 4 days. At first the coin recovered admirably to the dumps, staying very close to its regular price after a few dumps. After two days though, the price couldn't hold up anymore and we suspect that a lot of very early adopters started getting scared and began dumping as well.

Through some investigation and through a mixture of guilt, the "hacker" (who claims he actually isn't a hacker and the BTC simply appeared due to a mistake), came back and contacted the right people to start giving back the BTC he had taken from the exchange, since a lot of other people were affected and had their funds frozen. Of course he had lost a lot of value by filling very cheap buy orders for DRK so he can't possibly give it all back but the important thing is the dumps are stopped now and the coin has stabilized again. It has found solid ground and is starting to rise again. This rise will be fueled by the 3rd DarkSend alpha test which is happening tomorrow and after that, the developer (eduffield) has said that the beta will come soon as the code is very solid.

You have a unique chance right now to buy into a coin which really isn't supposed to be available at these prices anymore due to its real value. Only reason it's low right now is because of the situation I explained above. It belongs on the top of the charts as much as other coins with added functionality such as Peercoin/Namecoin for example. It's not a simple clone like 99% of other coins and it's here to stay.

TL;DR - Great time to buy

Nice writeup of events!

[CHAOSiTEC]

And I'm still lost on how one minute I was encrypting my wallet and the next I had a new address?

check your PM

Just sent it. Thanks

found your coins, check your mail

Some say he eats Leprechauns for breakfast and others say he once battled the tooth fairy. All we know for sure is he's called Chaositec!  

im stealing this :-D

[tungfa]

is now a good time to buy? Haven't really followed anything dark related

It's a great time to buy. DarkCoin is not a hype and pump/dump coin. It has attracted attention through actual value by means of the soon-to-be-beta (actually-in-alpha) DarkSend functionality (in addition to 11 different hashing algorithms which make it ASIC resitant, Kimoto Gravity Well (KGW) which makes it safe from multipools for example and adjusts difficulty every block and a great professional developer). This new feature will allow you to send coins anonymously directly from the wallet without passing by TOR (darkweb) or through a mixing service which requires trust in the operator of said service and also involve fees (2%). It is a trustless solution straight from the wallet and it will be the first coin to achieve such a feat. It experienced natural growth, going from around 0.00005 BTC when first hitting markets to 0.0025 BTC without any kind of useless hype (e.g. Maxcoin).

If you look at the price now though, it is quite a bit lower, ranging from 0.001 to 0.0014 depending on the market. What happened? One of the exchanges on which DRK trades (C-CEX) had a malfunction/hack which allowed a user to gain access to hundreds of BTC for free, which he couldn't cash out. He figured out that by buying DarkCoin, he could then transfer it out of the exchange easily, this caused a huge spike in buys since he put in around 300 BTC worth and bought up all DarkCoins up until 0.0075 BTC or 7.5 millibits. He then proceeded to transfer all those coins to another exchange (Poloniex) and started dumping as much as possible, as quickly as possible, with no regard for price. This caused a chain reaction which lasted for around 4 days. At first the coin recovered admirably to the dumps, staying very close to its regular price after a few dumps. After two days though, the price couldn't hold up anymore and we suspect that a lot of very early adopters started getting scared and began dumping as well.

Through some investigation and through a mixture of guilt, the "hacker" (who claims he actually isn't a hacker and the BTC simply appeared due to a mistake), came back and contacted the right people to start giving back the BTC he had taken from the exchange, since a lot of other people were affected and had their funds frozen. Of course he had lost a lot of value by filling very cheap buy orders for DRK so he can't possibly give it all back but the important thing is the dumps are stopped now and the coin has stabilized again. It has found solid ground and is starting to rise again. This rise will be fueled by the 3rd DarkSend alpha test which is happening tomorrow and after that, the developer (eduffield) has said that the beta will come soon as the code is very solid.

You have a unique chance right now to buy into a coin which really isn't supposed to be available at these prices anymore due to its real value. Only reason it's low right now is because of the situation I explained above. It belongs on the top of the charts as much as other coins with added functionality such as Peercoin/Namecoin for example. It's not a simple clone like 99% of other coins and it's here to stay.

TL;DR - Great time to buy

Well written, you should post that somewhere more public as well ….>

[yugu]

OK, man I will wait .008 drk/btc, then buy in mass.
30 BTC are ready to be transformed to DRK...

[traumschiff]

is now a good time to buy? Haven't really followed anything dark related

It's a great time to buy. DarkCoin is not a hype and pump/dump coin. It has attracted attention through actual value by means of the soon-to-be-beta (actually-in-alpha) DarkSend functionality (in addition to 11 different hashing algorithms which make it ASIC resitant, Kimoto Gravity Well (KGW) which makes it safe from multipools for example and adjusts difficulty every block and a great professional developer). This new feature will allow you to send coins anonymously directly from the wallet without passing by TOR (darkweb) or through a mixing service which requires trust in the operator of said service and also involve fees (2%). It is a trustless solution straight from the wallet and it will be the first coin to achieve such a feat. It experienced natural growth, going from around 0.00005 BTC when first hitting markets to 0.0025 BTC without any kind of useless hype (e.g. Maxcoin).

If you look at the price now though, it is quite a bit lower, ranging from 0.001 to 0.0014 depending on the market. What happened? One of the exchanges on which DRK trades (C-CEX) had a malfunction/hack which allowed a user to gain access to hundreds of BTC for free, which he couldn't cash out. He figured out that by buying DarkCoin, he could then transfer it out of the exchange easily, this caused a huge spike in buys since he put in around 300 BTC worth and bought up all DarkCoins up until 0.0075 BTC or 7.5 millibits. He then proceeded to transfer all those coins to another exchange (Poloniex) and started dumping as much as possible, as quickly as possible, with no regard for price. This caused a chain reaction which lasted for around 4 days. At first the coin recovered admirably to the dumps, staying very close to its regular price after a few dumps. After two days though, the price couldn't hold up anymore and we suspect that a lot of very early adopters started getting scared and began dumping as well.

Through some investigation and through a mixture of guilt, the "hacker" (who claims he actually isn't a hacker and the BTC simply appeared due to a mistake), came back and contacted the right people to start giving back the BTC he had taken from the exchange, since a lot of other people were affected and had their funds frozen. Of course he had lost a lot of value by filling very cheap buy orders for DRK so he can't possibly give it all back but the important thing is the dumps are stopped now and the coin has stabilized again. It has found solid ground and is starting to rise again. This rise will be fueled by the 3rd DarkSend alpha test which is happening tomorrow and after that, the developer (eduffield) has said that the beta will come soon as the code is very solid.

You have a unique chance right now to buy into a coin which really isn't supposed to be available at these prices anymore due to its real value. Only reason it's low right now is because of the situation I explained above. It belongs on the top of the charts as much as other coins with added functionality such as Peercoin/Namecoin for example. It's not a simple clone like 99% of other coins and it's here to stay.

TL;DR - Great time to buy

Well written, you should post that somewhere more public as well ….>

Counterparty recently had a very similar event occur.  It was trading up at .02 BTC/XCP, then a hacker dumped 35,000 XCP on poloniex.

The price dropped down to .010-.013 BTC/XCP after the hack/dump and there was a lot of similar optimism about how it was a great time to buy.  I even picked some up myself.

The market is taking much longer than I expected to recover from the hack/dump and the price has slowly declined to .007 BTC/XCP.

I believe we're going through a similar phase with Darkcoin.  We're definitely going to see .0008 BTC/DRK before we see .002 BTC/DRK again.

A hack/dump like that shakes confidence and will effect the market for several days, if not weeks.  Early adopters dumping big chunks will also add to the effect and push the price down below .001 BTC/DRK over the next couple days.

Except this coin has continious development going for it and will have an open beta soon with darksend. If that doesnt push the price up (and some new coverage with it) then nothing will do.

[TheGer]

The network features far outshine the price along with any blips on the market so I don't think there will be many legit dumping for cashouts.  People with larger numbers of DRK know what they are holding and don't want to get rid of it.

[ciocgun]

OK, man I will wait .008 drk/btc, then buy in mass.
30 BTC are ready to be transformed to DRK...

nice...

O.O

[LimLims]

The network features far outshine the price along with any blips on the market so I don't think there will be many legit dumping for cashouts.  People with larger numbers of DRK know what they are holding and don't want to get rid of it.

Agreed.

This is pure speculation, but I think the dumps are all the same guy who stole from C-CEX. He's stalling for time in the other thread while he takes his time & dumps for a better price.

[Corazon79]

What products/services do people here desire to purchase for Darkcoin?

I don't have the development skills to launch a Dark Road, but maybe an independent onion site for a particular niche.

Please PM me if you have any requests or suggestions.

[DuvajBalone]

eduffield,

I noticed you took ASIC-resistant out of the title. It's what attracted me here and, IMO, it should be kept there at all times and is the second most important feature of DRK. Certainly more than KGW, which is becoming common nowadays. VTC has shown that there's a demand for ASIC-resistance so DRK might as well advertise it.

I sent a PM to eduffield about this few days ago, but he didn't reply. He probably forgot to write when he was changing the title.

[coins101]

Sorry, chaps - another noob question on DRK. I only ask because I like the progress being made.

One of the features I like about DRK is KGW being an obstacle to multipools. However, I saw this posted by middlecoin about them mining Karm, which also uses KGW, and wondered if KGW with DRK is actually effective against multipools?

[AlexGR]

Sorry, chaps - another noob question on DRK. I only ask because I like the progress being made.

One of the features I like about DRK is KGW being an obstacle to multipools. However, I saw this posted by middlecoin about them mining Karm, which also uses KGW, and wondered if KGW with DRK is actually effective against multipools?

Multipools usually mine with scrypt. The unique algo combination of DRK makes it multipool-resistant^2.

[blajde]

Banned on BTC-e for promoting DRK. People liked it. Admin not so much. xD

[megges]

Sorry, chaps - another noob question on DRK. I only ask because I like the progress being made.

One of the features I like about DRK is KGW being an obstacle to multipools. However, I saw this posted by middlecoin about them mining Karm, which also uses KGW, and wondered if KGW with DRK is actually effective against multipools?

Multipools usually mine with scrypt. The unique algo combination of DRK makes it multipool-resistant^2.

Yes own algo is a big plus vs multipools (which usally use scrypt).

But i think there is not only KGW to mention, which makes a high load of new miners unprofibitable, but also the block reward is adjusted with difficulty - so thats another pro for us vs jumping multipools! (at least for now where the blockreward is not at it's minimum).