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

[InternetApe]

does anyone know about blue midnight wish?

can someone set-up a miner for that relatively easily with sph-sgminer?

I'm not sure what that is. Can you elaborate?

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[coins101]

So you're a big retailer and you prefer not to use crypto despite the fact that it can double your profit margin.

On paper its a no brainer. So what is the barrier?

Accepting crypto isn't going to double anyone's profit margin, but it might well be an accounting and taxation nightmare. Not only legally but also in having to rewrite their in house apps and procedures. Big headache for a big company...

General retailers have an average profit margin of around 2-3%.

Credit cards firms charge 1-4% depending on volume.

[coins101]

does anyone know about blue midnight wish?

can someone set-up a miner for that relatively easily with sph-sgminer?

I'm not sure what that is. Can you elaborate?

Zerocash are going to run with it as their hashing algo, looking at Matthew Green's twitter.

I think blue midnight wish is in x11 but it's listed as bmw.

[coins101]

I made a multipool at bc256pool.com

Basically a multipool will mine other coins, cash them in and buy one specific coin.
What that does is add buying power to a coin.
With too little buying power a coins value can drop.

What will happen at this pool is you will mine and at the end of the day get paid out your share of the coins based on how many shares you contributed.

All you have to do is mine with your Muniticoin address as your username

You can see more at bc256pool.com/getting_started

This originated as a blackcoin pool but i decided to open it up to another coin to help find blocks. Any blocks found will be paid out by share not by block found

For example if Muniticoin miners contribute 60% of the shares they will get paid out 60% of coins mined and that will be sold and traded for Muniticoin and paid back.

If you can add even 1 or 2 BTC a day value to Muniticoin it will help

Thanks for the initiative squall333. It is great to have a multipool concept similar to that of Blackcoin's - now Scrypt and Sha256 miners will be able to mine Muniti as well. Great news for those who have ASICs!

Munti uses x11

Not sure how this multipool works, but it sounds interesting.

[peteycamey]

Better logo=more miners=Price going up

better logo doesnt mean shit

more miners means more hash which means less profitability (dark currently LEAST profitable X11 coin to mine already)

price going up is only achieved if people on trade markets offer their btc to buy dark. it has nothing to do with miners.

[TanteStefana]

I don't understand any need for this unless you want customer protections.

No, not protection for customers. Protection for retailers. Something is stopping them from accepting crypto, despite the costs being significantly less than using credit cards.

So you're a big retailer and you prefer not to use crypto despite the fact that it can double your profit margin.

On paper its a no brainer. So what is the barrier?

The barrier is the volatility.  They still have to pay someone like coinbase to sell their coins immediately so as to minimize risk.  It's too much of an unknown, and the floor has dropped out of Bitcoins on many occasions, and they could lose a ton of money in just moments.  Retail is way too competitive to take on any risk.

None of the things you've suggested will minimize a retailer's risk, only a long track record of stability.  Overstock sells their bitcoins immediately, they get transferred to Coinbase and sold as fast as the transactions allow.  Their prices are linked to coinbase plus a healthy markup to pay for Coinbase's services and minimize risk.  For such a large retailer, though, it also doubles as advertisement

[drkman]

The barrier is the volatility.  They still have to pay someone like coinbase to sell their coins immediately so as to minimize risk.  It's too much of an unknown, and the floor has dropped out of Bitcoins on many occasions, and they could lose a ton of money in just moments.  Retail is way too competitive to take on any risk.

None of the things you've suggested will minimize a retailer's risk, only a long track record of stability.  Overstock sells their bitcoins immediately, they get transferred to Coinbase and sold as fast as the transactions allow.  Their prices are linked to coinbase plus a healthy markup to pay for Coinbase's services and minimize risk.  For such a large retailer, though, it also doubles as advertisement

This is why if Darkcoin can make a platform for retailers that they can easily implement into their payment systems that does the following, it will do more for Dark than people realize.

1.  Buyers checkout with their purchase through Bestbuy.com or Overstock.com and instead of selecting paypal they choose "Safepay" or "Darksend" or whatever you want to call it.  
2.  On the backend, the retailer then would have software that performed an automated autosell feature that immediately converts the DRK to Fiat.

Doing this could be pretty difficulty and possibly time consuming if you had to first convert to BTC, then Fiat but the key is to remove the retailer's cost of implementation, keep any transaction costs low, and eliminate the retailer's exchange rate risk by having immediate fiat conversion.  Maybe a Moolah.io type service is the best answer or maybe working some deal with paypal where from the retailer's perspective they are simply accepting paypal is a good solution.  One thing that seems certain is that having a dependable, low cost exchange as a partner seems an essential component.

The coin at this point essentially needs to begin running like a corporation with employees that work to develop the relationships needed for retail integration.  Those who have the greatest vested interest in making something like this happen would be the Darkcoin whales who are holding the most Dark.  Those are the ones who will financially benefit the most by spending real money, time and effort to make this happen.

[mannie]

I like how Darkcoin's chart pretty much resembles Bitcoin's chart, meaning there are no pumps and shocks particular to DRK. Looking forward to the days DRK grows higher than BTC's fluctuations.

In the future when Darkcoin is more established, it would be great to see a company like Coinbase springing up which only offers DARK>Fiat conversion. Then we could really move beyond BTC fluctuations.

[kingscrown]

ive made a review and setup guide of Gridseeds - http://fuk.io/how-to-setup-gridseed-dual-asic-miner-on-windows-mac-osx-linux-review-of-gridseed/
this coin is available as donation, and since i have over 1300 people on mailing list.. this may give some heads up to people feel free to keep me without ads with donations bros!

[patrolman]

The barrier is the volatility.  They still have to pay someone like coinbase to sell their coins immediately so as to minimize risk.  It's too much of an unknown, and the floor has dropped out of Bitcoins on many occasions, and they could lose a ton of money in just moments.  Retail is way too competitive to take on any risk.

None of the things you've suggested will minimize a retailer's risk, only a long track record of stability.  Overstock sells their bitcoins immediately, they get transferred to Coinbase and sold as fast as the transactions allow.  Their prices are linked to coinbase plus a healthy markup to pay for Coinbase's services and minimize risk.  For such a large retailer, though, it also doubles as advertisement

This is why if Darkcoin can make a platform for retailers that they can easily implement into their payment systems that does the following, it will do more for Dark than people realize.

1.  Buyers checkout with their purchase through Bestbuy.com or Overstock.com and instead of selecting paypal they choose "Safepay" or "Darksend" or whatever you want to call it.  
2.  On the backend, the retailer then would have software that performed an automated autosell feature that immediately converts the DRK to Fiat.

Doing this could be pretty difficulty and possibly time consuming if you had to first convert to BTC, then Fiat but the key is to remove the retailer's cost of implementation, keep any transaction costs low, and eliminate the retailer's exchange rate risk by having immediate fiat conversion.  Maybe a Moolah.io type service is the best answer or maybe working some deal with paypal where from the retailer's perspective they are simply accepting paypal is a good solution.  One thing that seems certain is that having a dependable, low cost exchange as a partner seems an essential component.

The coin at this point essentially needs to begin running like a corporation with employees that work to develop the relationships needed for retail integration.  Those who have the greatest vested interest in making something like this happen would be the Darkcoin whales who are holding the most Dark.  Those are the ones who will financially benefit the most by spending real money, time and effort to make this happen.

I know it's a bit utopian, but ultimately it would be much better if retailers held on to their DRK (or BTC). If not, you have a system in which people spend fiat or BTC to buy DRK probably hoping that it will increase in value, or in the worst case scenario, not fall. The you have retailers trying to attract customers who want to spend DRK, not necessarily because they believe in it but because they see an opportunity to make money. That would be ok, but when they trade directly for fiat the price goes down a little and the more success these retailers have, the more downward pressure there is on the price.

Of course for most retailers it would be impossible to hold all of their DRK (or even BTC) as they wouldn't be able to purchase new stock - depending on the goods being sold. Maybe some sort of system where sellers make a commitment to keeping a certain proportion of DRK could be implemented, say 0, 20, 40, 60, 80 and 100% of takings (or profit) for example. If consumers want to support DRK as much as possible they go to a site which keeps 100% of DRK from its sales, or maybe 80 or 60%. This sort of thing would no doubt be very difficult, if not impossible to police, but perhaps some type of trust system could be used.

[LimLims]

Please cast your vote for the logo variant here:

https://darkcointalk.org/threads/blue-vs-b-w-logo.268/

[daddeo]

What will that provide that it can't be provided already by scrypt multipools that pay out in BTC? The "auto buy DRK" stage?

If someone is getting paid in BTC by a 20-30ghash scrypt multipool, can't they just go to an exchange and buy DRK with the BTCs? The only obstacle is if there are people unfamiliar with exchanges. Other than that, it's quite easy.

In terms of focusing resources, I'd rather have X11 merged mining of multiple X11 coins (if that is feasible): It would secure our network, decrease daily coin production and increase profitability for X11 miners who can then buy DRK if they so want.

I would agree. This makes sense to me although I don't claim to know all the ins and outs of merge mining. For instance, if we were to merge with say HIC and LIM, does a miners hash rate get split three ways? Are you able to pick which coin you're rewarded with?
With x11 becoming all the rave with script ASICS on the way, merge mining could be a viable option.

[tungfa]

https://bitmixer.io

Even Bitcoin is mixing up its transactions ….. DRK and Anonymity are so the future !
We gotta get this out there !
I have the feeling people still do not know !!!

[Simcom]

Hey guys!  Just a friendly reminder to subscribe to the subreddit if you haven't already!

 

http://www.reddit.com/r/DRKCoin/

 

[fearcoka]

I love Darksend but you have to realize it will be replaced once someone starts a zero knowledge proof coin.

While I've been working on DarkSend I've been thinking about this alot. You know what the problem is with a zero knowledge proof? There's a secret key that will be attacked by governments and it will eventually be cracked. That will make every transaction that ever happened in that blockchain cleartext and allow every future transaction to also be viewed as cleartext. I'm going to venture to say the government is working on quantum computers and such crypto can be solved with shor's algorithm. When they do, they're not going to tell anyone. So it's a giant honeypot.

DarkSend is immune to such attacks, all involved crypto functions could be cracked and the mixing is still done off blockchain by the masternodes. Off blockchain means that the information is lost and that's the only way to secure it, you can't do it with cryptography.

Too much this

[tabnk]

Sound good ....

[janos666]

I love Darksend but you have to realize it will be replaced once someone starts a zero knowledge proof coin.

While I've been working on DarkSend I've been thinking about this alot. You know what the problem is with a zero knowledge proof? There's a secret key that will be attacked by governments and it will eventually be cracked. That will make every transaction that ever happened in that blockchain cleartext and allow every future transaction to also be viewed as cleartext. I'm going to venture to say the government is working on quantum computers and such crypto can be solved with shor's algorithm. When they do, they're not going to tell anyone. So it's a giant honeypot.

DarkSend is immune to such attacks, all involved crypto functions could be cracked and the mixing is still done off blockchain by the masternodes. Off blockchain means that the information is lost and that's the only way to secure it, you can't do it with cryptography.

Too much this

I think the NSA -or [insert your favorite evil mastermind's name here]- will find a way to crack almost every masternodes and log everything before they build a quantum computer.
(Windows has backdoors for sure, may be they managed to plant one or two in the Linux kernel as well.)
If not before, then after, because that quantum computer will also be able to crack the masternodes. And may be the pre-quantum-crack history won't be logged/revealed but we won't know when they fire this beast up, so we should assume they already did (and thus everything seems pointless).

[CarlosWing]

http://www.reddit.com/r/CoinedUp/comments/1xa9fy/request_need_a_new_place_to_exchange_drk_dark_coin/

[HooDude]

I like how Darkcoin's chart pretty much resembles Bitcoin's chart, meaning there are no pumps and shocks particular to DRK. Looking forward to the days DRK grows higher than BTC's fluctuations.

In the future when Darkcoin is more established, it would be great to see a company like Coinbase springing up which only offers DARK>Fiat conversion. Then we could really move beyond BTC fluctuations.

This already exists. Vault of Satoshi in Canada is adding (or already has) DRK -> USD and Canadian.

[hitu]

I love Darksend but you have to realize it will be replaced once someone starts a zero knowledge proof coin.

While I've been working on DarkSend I've been thinking about this alot. You know what the problem is with a zero knowledge proof? There's a secret key that will be attacked by governments and it will eventually be cracked. That will make every transaction that ever happened in that blockchain cleartext and allow every future transaction to also be viewed as cleartext. I'm going to venture to say the government is working on quantum computers and such crypto can be solved with shor's algorithm. When they do, they're not going to tell anyone. So it's a giant honeypot.

DarkSend is immune to such attacks, all involved crypto functions could be cracked and the mixing is still done off blockchain by the masternodes. Off blockchain means that the information is lost and that's the only way to secure it, you can't do it with cryptography.

Agreed!