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

[coins101]

Privacy in financial transactions is still the front runner, has been from the first post



https://bitcointalk.org/index.php?topic=579976.msg6335710#msg6335710

bump

[bctx]

To all the people selling Drk.  I realise the temptation to sell is great, especially if you bought at $1 or less.

However, before you commit that grievous sin and damage your future wealth, please do these logical checks:

1. Is darkcoin better than litecoin?

2. Is darkcoin current price less than litecoin?

If you answered yes to the above questions: WHY ARE U SELLING?!!!

Because Darkcoin is currently under threat by Monero and Quazar coin. Once these coins get their proper wallet, things should take off for them as well.

[illodin]

Because Darkcoin is currently under threat by Monero and Quazar coin. Once these coins get their proper wallet, things should take off for them as well.

Ring signature based coins appear to have massive scalability problems. It might be very well possible they just can't cope with the bloat to go mainstream.

[Amph]

No the reward formula would actually give more coins.

and why, if the total hash would be same, i don't see a greater reward, it would be exactly the same as it right now, but instead of one person controlling 300MH/s(example) , would be 300 people controlling it

[AlexGR]

No the reward formula would actually give more coins.

and why, if the total hash would be same, i don't see a greater reward, it would be exactly the same as it right now, but instead of one person controlling 300MH/s(example) , would be 300 people controlling it

In the example of the poster above, of using just 1 gpu each, it would be less hashpower.

[coins101]

To all the people selling Drk.  I realise the temptation to sell is great, especially if you bought at $1 or less.

However, before you commit that grievous sin and damage your future wealth, please do these logical checks:

1. Is darkcoin better than litecoin?

2. Is darkcoin current price less than litecoin?

If you answered yes to the above questions: WHY ARE U SELLING?!!!

Let'em sell. If DRK changes hands, someone who bought now will not sell until it hits higher while those who bought lower will always want to cash out and be trigger happy. It's good to rotate "shifts".

It's just like Bitcoin where 10-20-30$ seemed like a bubble for early adopters and were selling to newcomers who wouldn't sell until they made substantial profit.

uh? the difficulty would be the same, just more darkcoin will be spreaded

No the reward formula would actually give more coins.

DRK is over $10 for the first time 0.01949 (Mintpal) x $513.9 (Bitstamp) = $10.015911

It seems coins101 was conservative not using a 10+ option in his poll for May prices and capping it at 9+

I have to put my hands up to that error.

We are not far off the majority view. Will do another price survey in June.

Which can only mean the survey for the end of year valuations might need adjustment?

[lohveh]

Just saw Darkcoin passed NXT. That's an impressive ascent. I'd like to get into Darkcoin but the price is scary high. I always bought at the peak and I don't want to make the same mistake again. >_<

High ??  It's only at 5% of its potential.

[coins101]

Can enyone clear the water around ring signatures and darksend/masternodes  ? Are we getting rid of masternodes ? What is the feature of darkcoin ? "Big Things comming" it's not a clear schedule .

eduffield posted earlier today, Masternodes and Darksend are sticking around, he will not be implementing ring signatures.

Holy crap, over .019!  We will hit .02 soon!  Massive 100+BTC sellwalls on Mintpal just keep evaporating!  162 BTC to hit .02.  I'm betting it won't actually be that much, the sellwall will disappear just as it did at .0185, etc.  With such a huge jump, I think we will have to backfill.  I am tempted to sell and re-buy later.  Still, I have never been able to time trades like this very well, and I've screwed myself on more than one occasion.  I'm hodling, despite the temptation!

Off the topic of DRK price: I am thinking of trying to facilitate a collaborative Masternode by using Counterparty (XCP).  Basically the idea would be to sell shares in a Masternode. Create an XCP asset with 10,000 shares.  Call it DRKMN.  (But we can't call them shares for legal reasons; we'll just say that each DRKMN represents 0.1 DRK in a Masternode.)  People contribute their DRK to the pool and receive the corresponding DRKMN assets in return.  The person running the pool (maybe me, maybe somebody else) sets up the Masternode on a server somewhere and pays dividends through XCP on a regular basis from the node's earnings.  The dividends would have to be in BTC due to the way that Counterparty operates, so the operator would need to cover costs, convert to BTC and distribute the profits through Counterwallet.

The really cool thing about this is that once the 1000 DRK are in the Masternode pool, they can be traded for BTC in a decentralized manner (NOT through an exchange) so if, say, you contributed 100 DRK to the pool then you would later be able to sell 50 DRK worth and retain your ownership of the other 50 DRK worth.  So it is a way of making Masternode-locked DRKs liquid!

The problem is one of trust.  The node operator/trustee would obviously need to be a trusted figure who will not run away with everybody's DRK.  I'm just an anonymous dude that nobody has any reason to trust, but if somebody with stature in the community wants to help set this up, I will do whatever I can to help.  I do have a Linux server admin background... maybe a little rusty in some areas (no longer in the business), but I'm not scared of spending several hours in the commandline getting things fixed up.  I would also be willing to contribute 100 DRK to the pool, which unfortunately is the majority of my DRK holdings.

Eventually I could see there being many DRKMN-style assets in Counterparty and possibly other Bitcoin-2.0 coins such as BitShares, Mastercoin, etc.  The benefit of being able to liquidate holdings in a Masternode without taking down the node is quite clear.

....and in the time it took me to write this, we're back below .019.  The buy side needs to shore itself up bigtime.  Almost 200BTC to hit .02 now.  ...and a good chunk of that just disappeared, now 113BTC.

There is a need. If you can figure out a way to do it, there will be plenty of takers.

I dont hold DRK so can be objective here... And this is how I see it...

I thought DRK was another pump and dump... Waited and waited for the bubble to pop and it didn't / hasn't.. Read more and more about the coin, liked it more and more, and I may now grab some... I am kicking myself as I should have done more research but was put off the coin by some of the comments in the VTC thread...

I am watching DRK for weeks now and build up a base of coins over that time. It was my second favourite after VTC. After loosing a lot of money on LTC i finally decided to cut my LTC loss and switched a quarter of them to DRK.

After it begun too rise from 130K to 200K the first time i begun to feel thinking  it is more worth to hold DRK than BTC.
The next step was trying to build up my DRK by daytrading. On the run to 640K i lost around 86 DRK i wasn´t able to buy back on a bigger loss.
Finally i transfered now all my drk from mint and cryptsy to my wallet, stored into wallet.dat, took it on serveral medium and places and
only follow this now from the sideline. I have not the skills to run a masternode and that´s the only reason why i did not fill up my wallet finally up to 1000 DRK.  

I thought this might happen.

Edit -

I did suggest an IPO a few hundred pages back for a master node as a service offering; Evan suggested a kind of fractional ownership a few pages back.

Clearly we need an element of trust between someone with the technical skills to set-up and manage a master node and those with DRK to invest. The trust bit causes all sorts of problems, and asking someone to run a master nodes is time consuming and therefore adds to the cost.

I'll have a think about some options to get over this.

Yes, trust a third party is main thing here. Momentary a masternode has worth DRK of 14BTC which is around 6.5K$
Evan had the idea maybe somone make a service that looks like a pool that collect 1000 DRK from users to set up a masternode
and shares the profit to users and get paid a fee for the service.
First i thought, wow great - but thinking about it for a while i change my mind in thinking about scam and it´s too risky in danger of loose DRK for a profit.

Way to solve this could be a image like BAMT. I would also be willing to pay a fee of my profit for such a service.

That's why I thought an IPO might work. One entity with an incentive to operate master nodes and collect a share of the profit. The more master nodes, distributed, the more profit share and dividends to everyone. It needs scale to be worth while, so an IPO would not get off unless the books where filled.

My main concern with an IPO is that it is now a regulated activity, especially if anyone from the US takes up an offer http://investor.gov/news-alerts/investor-alerts/investor-alert-bitcoin-other-virtual-currency-related-investments#.U3x7PvldWCn

You don't have to do anything criminal such as stealing money, just not making the right applications to the right authorities before you start gets you in trouble. Living in the UK, extradition takes 5 minutes and a few emails.

[Artoodeetoo]

Just saw Darkcoin passed NXT. That's an impressive ascent. I'd like to get into Darkcoin but the price is scary high. I always bought at the peak and I don't want to make the same mistake again. >_<

High ??  It's only at 5% of its potential.

Agree, the buying going on here is long term, this is not a pump and dump, this coin is going to become a part of the crypto ecosystems...

[Ozziecoin]

To all the people selling Drk.  I realise the temptation to sell is great, especially if you bought at $1 or less.

However, before you commit that grievous sin and damage your future wealth, please do these logical checks:

1. Is darkcoin better than litecoin?

2. Is darkcoin current price less than litecoin?

If you answered yes to the above questions: WHY ARE U SELLING?!!!

Because Darkcoin is currently under threat by Monero and Quazar coin. Once these coins get their proper wallet, things should take off for them as well.

Mon what and Quaz where?  Seriously, not tested and no one cares.  Darkcoin is the first Decentralised Privacy coin. All others fall in line please.

[stealth923]

We Just hit Sky News

http://news.sky.com/story/1266609/meet-darkcoin-bitcoins-shadowy-cousin

[coins101]

Because Darkcoin is currently under threat by Monero and Quazar coin. Once these coins get their proper wallet, things should take off for them as well.

Ring signature based coins appear to have massive scalability problems. It might be very well possible they just can't cope with the bloat to go mainstream.

That's irrelevant

I was watching the Poloniex trollbox yesterday. They were pumping the Monero price by reference to the recent Darkcoin rise. Then Bytecoin was added. The Trollbox went mad, Monero got dumped and Bytecoin got picked up, again by reference to Darkcoin.

The problem for these coins is that they are now borrowing the Darkcoin brand recognition and brand value. That means they inherently do not have any sustainable brand value themselves, at the moment.

Also, Bitcoin is way ahead of the field. The amount of VC money going into creating merchant services and new products is phenomenal. Darkcoin is based off the Bitcoin code, probably via Litecoin adaptations. This means that all Darkcoin has to do is demonstrate competence in the quest for becoming anonymous digital cash with mass appeal or adoption and there is an argument for it to be added to any merchant platform that already hosts Bitcoin. The effort to integrate will not be trivial, but it could be put on the table as an option.

The same cannot be said of any technology that has a different code base to Bitcoin. I bought some MRO to better understand the mechanics, economics and community. Looks like I'm bag holding at the moment.

[coins101]

We Just hit Sky News

http://news.sky.com/story/1266609/meet-darkcoin-bitcoins-shadowy-cousin

[LimLims]

We Just hit Sky News

http://news.sky.com/story/1266609/meet-darkcoin-bitcoins-shadowy-cousin

I love how the entire content of the sky article is lifted from the recent wired article, almost word for word. Journalism at its finest.

[e6ug]

Whoa, slow down there maestro. There's a NEW Mexico?  Smithers, release the hounds.

[droptable]

To all the people selling Drk.  I realise the temptation to sell is great, especially if you bought at $1 or less.

However, before you commit that grievous sin and damage your future wealth, please do these logical checks:

1. Is darkcoin better than litecoin?

2. Is darkcoin current price less than litecoin?

If you answered yes to the above questions: WHY ARE U SELLING?!!!

i think it is good that there are people to sell their coins.
how else could newcomers buy in and become part of this?

sell sell sell.

I´m thankful to the big holders who let me buy in 2 weeks ago. [And two days ago.]
(some earlyadopters even stated that they have so much that they are willing to let some precent go to get new ones involfed)

[Ozziecoin]

To all the people selling Drk.  I realise the temptation to sell is great, especially if you bought at $1 or less.

However, before you commit that grievous sin and damage your future wealth, please do these logical checks:

1. Is darkcoin better than litecoin?

2. Is darkcoin current price less than litecoin?

If you answered yes to the above questions: WHY ARE U SELLING?!!!

i think it is good that there are people to sell their coins.
how else could newcomers buy in and become part of this?

sell sell sell.

I´m thankful to the big holders who let me buy in 2 weeks ago. [And two days ago.]
(some earlyadopters even stated that they have so much that they are willing to let some precent go to get new ones involfed)

I don't have a problem with people selling. I have a BIG problem with people selling at less than $50 per Drk.  They do not know what they hold!  Blind!!!

[coins101]

As its Pizza day, can we get a bounty together to send Evan and Ape some Pizza?

There are plenty here that could do that on their own.

It would be better to have lots of people send small amounts of DRK to someone in the USA who can put an order in and pay for it. Tante is based in the US, I think, and might be ok to put the orders through. Anyone else able to?

[droptable]

To all the people selling Drk.  I realise the temptation to sell is great, especially if you bought at $1 or less.

However, before you commit that grievous sin and damage your future wealth, please do these logical checks:

1. Is darkcoin better than litecoin?

2. Is darkcoin current price less than litecoin?

If you answered yes to the above questions: WHY ARE U SELLING?!!!

i think it is good that there are people to sell their coins.
how else could newcomers buy in and become part of this?

sell sell sell.

I´m thankful to the big holders who let me buy in 2 weeks ago. [And two days ago.]
(some earlyadopters even stated that they have so much that they are willing to let some precent go to get new ones involfed)

I don't have a problem with people selling. I have a BIG problem with people selling at less than $50 per Drk.  They do not know what they hold!  Blind!!!

And i have no problem with buying at these prices 

[baddw]

Can enyone clear the water around ring signatures and darksend/masternodes  ? Are we getting rid of masternodes ? What is the feature of darkcoin ? "Big Things comming" it's not a clear schedule .

eduffield posted earlier today, Masternodes and Darksend are sticking around, he will not be implementing ring signatures.

Holy crap, over .019!  We will hit .02 soon!  Massive 100+BTC sellwalls on Mintpal just keep evaporating!  162 BTC to hit .02.  I'm betting it won't actually be that much, the sellwall will disappear just as it did at .0185, etc.  With such a huge jump, I think we will have to backfill.  I am tempted to sell and re-buy later.  Still, I have never been able to time trades like this very well, and I've screwed myself on more than one occasion.  I'm hodling, despite the temptation!

Off the topic of DRK price: I am thinking of trying to facilitate a collaborative Masternode by using Counterparty (XCP).  Basically the idea would be to sell shares in a Masternode. Create an XCP asset with 10,000 shares.  Call it DRKMN.  (But we can't call them shares for legal reasons; we'll just say that each DRKMN represents 0.1 DRK in a Masternode.)  People contribute their DRK to the pool and receive the corresponding DRKMN assets in return.  The person running the pool (maybe me, maybe somebody else) sets up the Masternode on a server somewhere and pays dividends through XCP on a regular basis from the node's earnings.  The dividends would have to be in BTC due to the way that Counterparty operates, so the operator would need to cover costs, convert to BTC and distribute the profits through Counterwallet.

The really cool thing about this is that once the 1000 DRK are in the Masternode pool, they can be traded for BTC in a decentralized manner (NOT through an exchange) so if, say, you contributed 100 DRK to the pool then you would later be able to sell 50 DRK worth and retain your ownership of the other 50 DRK worth.  So it is a way of making Masternode-locked DRKs liquid!

The problem is one of trust.  The node operator/trustee would obviously need to be a trusted figure who will not run away with everybody's DRK.  I'm just an anonymous dude that nobody has any reason to trust, but if somebody with stature in the community wants to help set this up, I will do whatever I can to help.  I do have a Linux server admin background... maybe a little rusty in some areas (no longer in the business), but I'm not scared of spending several hours in the commandline getting things fixed up.  I would also be willing to contribute 100 DRK to the pool, which unfortunately is the majority of my DRK holdings.

Eventually I could see there being many DRKMN-style assets in Counterparty and possibly other Bitcoin-2.0 coins such as BitShares, Mastercoin, etc.  The benefit of being able to liquidate holdings in a Masternode without taking down the node is quite clear.

....and in the time it took me to write this, we're back below .019.  The buy side needs to shore itself up bigtime.  Almost 200BTC to hit .02 now.  ...and a good chunk of that just disappeared, now 113BTC.

There is a need. If you can figure out a way to do it, there will be plenty of takers.

I dont hold DRK so can be objective here... And this is how I see it...

I thought DRK was another pump and dump... Waited and waited for the bubble to pop and it didn't / hasn't.. Read more and more about the coin, liked it more and more, and I may now grab some... I am kicking myself as I should have done more research but was put off the coin by some of the comments in the VTC thread...

I am watching DRK for weeks now and build up a base of coins over that time. It was my second favourite after VTC. After loosing a lot of money on LTC i finally decided to cut my LTC loss and switched a quarter of them to DRK.

After it begun too rise from 130K to 200K the first time i begun to feel thinking  it is more worth to hold DRK than BTC.
The next step was trying to build up my DRK by daytrading. On the run to 640K i lost around 86 DRK i wasn´t able to buy back on a bigger loss.
Finally i transfered now all my drk from mint and cryptsy to my wallet, stored into wallet.dat, took it on serveral medium and places and
only follow this now from the sideline. I have not the skills to run a masternode and that´s the only reason why i did not fill up my wallet finally up to 1000 DRK.  

I thought this might happen.

Edit -

I did suggest an IPO a few hundred pages back for a master node as a service offering; Evan suggested a kind of fractional ownership a few pages back.

Clearly we need an element of trust between someone with the technical skills to set-up and manage a master node and those with DRK to invest. The trust bit causes all sorts of problems, and asking someone to run a master nodes is time consuming and therefore adds to the cost.

I'll have a think about some options to get over this.

Yes, trust a third party is main thing here. Momentary a masternode has worth DRK of 14BTC which is around 6.5K$
Evan had the idea maybe somone make a service that looks like a pool that collect 1000 DRK from users to set up a masternode
and shares the profit to users and get paid a fee for the service.
First i thought, wow great - but thinking about it for a while i change my mind in thinking about scam and it´s too risky in danger of loose DRK for a profit.

Way to solve this could be a image like BAMT. I would also be willing to pay a fee of my profit for such a service.

That's why I thought an IPO might work. One entity with an incentive to operate master nodes and collect a share of the profit. The more master nodes, distributed, the more profit share and dividends to everyone. It needs scale to be worth while, so an IPO would not get off unless the books where filled.

My main concern with an IPO is that it is now a regulated activity, especially if anyone from the US takes up an offer http://investor.gov/news-alerts/investor-alerts/investor-alert-bitcoin-other-virtual-currency-related-investments#.U3x7PvldWCn

You don't have to do anything criminal such as stealing money, just not making the right applications to the right authorities before you start gets you in trouble. Living in the UK, extradition takes 5 minutes and a few emails.

Yes, I read those posts earlier and have been keeping up with the thread.  Proposing the mechanism of Counterparty to manage the shares is my only real contribution here.  Counterparty has several features that would make this pretty easy; automated management of dividend payouts being a key one.  The liquidity aspect is really a side benefit, but one that could eventually end up being critical.  Down the road, I can see people with 1000 DRK setting up this kind of tradable asset so that they can scale out of their DRK holdings without taking down the Masternode.  I would expect DRKMN to trade at a decent premium to DRK, given the time/effort needed to maintain the darknode, as well as the profitability.

Maybe it's just too early right now.  It would probably be better to wait until the Masternodes are fully operational, to see what kind of time and expense they require, as well as their profitability, before trying to implement a multi-owner Masternode.