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

[japerry]

I just checked moments ago. Darkcoin is at #2!! We just passed Litecoin!! Yay!!

That is 24 hr volume, not overall market cap. It has happened quite a few times this last 2 weeks. If it were overall market cap, you would not be able to handle the trolling here and in forums across the world.

LOL!!! Thanks! I guess I need to study up on how to work the charts.

[oblox]

So here's a followup question, why not increase the masternode payments to 20% or 30% of block rewards to put the total payouts on par with these very optimistic assumptions above one might get with buying a rig?

JL

Good luck selling that to the miners, most of which with the difficulty where it is at, are still making minimal returns (or in some cases, losing money mining DRK directly). The miners still need to be an integral part of the system for securing the network and new coin generation.

[InternetApe]

Hello,

I am a film music composer, but also a huge fan of crypto-currencies and especially DarkCoin.

DarkCoin has inspired me to compose a DarkCoin Anthem and the music was already performed by a huge 100 musicians symphonic orchestra for me. The music theme is really great and will motivate all people who invested in DRK and also their friends once they hear the anthem. It is also against all trolls, who think they can manipulate people to lose their motivation.

I will soon upload the music to YouTube, but will need some graphics, images and also a possible 3D video of the DarkCoin logo. I would be happy if somebody will provide me with this media, so I can make a great YouTube presentation of the DarkCoin.

Feel free to contact me at tcherkin@gmail.com

Thanks,

Georgii Cerkiin

Here you can listen to the music, feel free to use the music for all projects concerning DarkCoin

DarkCoin Anthem - The Long Version:
https://soundcloud.com/tcherkin/darkcoin-orchestral-anthem-long-version

DarkCoin Anthem - The Short Version:
https://soundcloud.com/tcherkin/darkcoin-orchestral-anthem-short-version

I hope all the fans of DarkCoin will enjoy this music. Thank you!

I will also appreciate your DRK donations here:
XiG7xsjFrAwtk3iAmxgapycErnErLCxuJQ

How can we download that? Didnt see the download  link.

[Jesse Livermore]

Also, the masternode payments are currently estimated at 1.3 DRK per day per masternode, which at current prices puts owning a masternode as having the best cost-benefit versus mining anything in the crypto world. Is that also accurate?

288 coins per day for masternodes / number of masternodes... if there are 200 nodes, it'll be 1.44 DRK per node.

No real CAPEX because you get to keep the 1000 DRK (it's not spenditure), and OPEX is pretty low.

I doubt that most rich people will do this though. They'd rather have it in their wallets. Less risk until the system is proven to be failsafe, etc.

For most rich people, the cost ($11k) of getting a masternode up and running is nothing. And you're right that it's not a capital expenditure but rather an investment with dividends.

[Jesse Livermore]

So here's a followup question, why not increase the masternode payments to 20% or 30% of block rewards to put the total payouts on par with these very optimistic assumptions above one might get with buying a rig?

JL

Good luck selling that to the miners, most of which with the difficulty where it is at, are still making minimal returns (or in some cases, losing money mining DRK directly). The miners still need to be an integral part of the system for securing the network and new coin generation.

Well running the electricity costs vs benefits of my rig (which gets about 1.5 mh/s x11 or about 550 kh/s scrypt), it's basically a money-losing endeavor now to even keep it on.
I'm guessing it's that way now for most of us at the 'hobbyist' level. I'm actually not sure how mining DRK is profitable for any right now who aren't somehow using an x11 asic of some kind (if such thing exists). So it seems to me that moving to a higher reward for the MN's would actually make more sense since there's already no incentive for miners to stick with DRK here.
And as far as securing the network and generating new coins goes, isn't that part of what the masternodes are also doing?

[oblox]

So here's a followup question, why not increase the masternode payments to 20% or 30% of block rewards to put the total payouts on par with these very optimistic assumptions above one might get with buying a rig?

JL

Good luck selling that to the miners, most of which with the difficulty where it is at, are still making minimal returns (or in some cases, losing money mining DRK directly). The miners still need to be an integral part of the system for securing the network and new coin generation.

Well running the electricity costs vs benefits of my rig (which gets about 1.5 mh/s x11 or about 550 kh/s scrypt), it's basically a money-losing endeavor now to even keep it on.
I'm guessing it's that way now for most of us at the 'hobbyist' level. I'm actually not sure how mining DRK is profitable for any right now who aren't somehow using an x11 asic of some kind (if such thing exists). So it seems to me that moving to a higher reward for the MN's would actually make more sense since there's already no incentive for miners to stick with DRK here.
And as far as securing the network and generating new coins goes, isn't that part of what the masternodes are also doing?

I don't think (and I could be mistaken) masternodes do anything for securing the network or coin generation. MN's coinjoin the transactions while the miners put the transactions in blocks (like all coins) and make sure the ledger keeps moving forward. I'm still shocked that people still mine DRK directly with the difficulty where it is at (difficulty remaining high from the continued hashing power).

[forzendiablo]

why not all moved to LGD legendary coin ?

[TanteStefana2]

So here's a followup question, why not increase the masternode payments to 20% or 30% of block rewards to put the total payouts on par with these very optimistic assumptions above one might get with buying a rig?

JL

Good luck selling that to the miners, most of which with the difficulty where it is at, are still making minimal returns (or in some cases, losing money mining DRK directly). The miners still need to be an integral part of the system for securing the network and new coin generation.

Well running the electricity costs vs benefits of my rig (which gets about 1.5 mh/s x11 or about 550 kh/s scrypt), it's basically a money-losing endeavor now to even keep it on.
I'm guessing it's that way now for most of us at the 'hobbyist' level. I'm actually not sure how mining DRK is profitable for any right now who aren't somehow using an x11 asic of some kind (if such thing exists). So it seems to me that moving to a higher reward for the MN's would actually make more sense since there's already no incentive for miners to stick with DRK here.
And as far as securing the network and generating new coins goes, isn't that part of what the masternodes are also doing?

I don't think (and I could be mistaken) masternodes do anything for securing the network or coin generation. MN's coinjoin the transactions while the miners put the transactions in blocks (like all coins) and make sure the ledger keeps moving forward. I'm still shocked that people still mine DRK directly with the difficulty where it is at (difficulty remaining high from the continued hashing power).

That's right, Masternodes don't mine any coins, they only do the mixing services.  The miners actually vote for each Masternode and pay each Masternode when the job is finished as well as mine up the new coins

[Jesse Livermore]

So here's a followup question, why not increase the masternode payments to 20% or 30% of block rewards to put the total payouts on par with these very optimistic assumptions above one might get with buying a rig?

JL

Good luck selling that to the miners, most of which with the difficulty where it is at, are still making minimal returns (or in some cases, losing money mining DRK directly). The miners still need to be an integral part of the system for securing the network and new coin generation.

Well running the electricity costs vs benefits of my rig (which gets about 1.5 mh/s x11 or about 550 kh/s scrypt), it's basically a money-losing endeavor now to even keep it on.
I'm guessing it's that way now for most of us at the 'hobbyist' level. I'm actually not sure how mining DRK is profitable for any right now who aren't somehow using an x11 asic of some kind (if such thing exists). So it seems to me that moving to a higher reward for the MN's would actually make more sense since there's already no incentive for miners to stick with DRK here.
And as far as securing the network and generating new coins goes, isn't that part of what the masternodes are also doing?

I don't think (and I could be mistaken) masternodes do anything for securing the network or coin generation. MN's coinjoin the transactions while the miners put the transactions in blocks (like all coins) and make sure the ledger keeps moving forward. I'm still shocked that people still mine DRK directly with the difficulty where it is at (difficulty remaining high from the continued hashing power).

I actually think you're right, after reading through Evan's old posts he doesn't explicitly say that the MN's will help secure the overall Darkcoin network in the same way miners do. I think I was misinformed awhile back from someone here who was also misinformed about MN's functions besides coinjoining.

Thinking out loud here, I bet we'll see alternative Dark shitcoins coming out in the next few months (after Evan opens up the code) with the same everything as Darkcoin but much higher % of block payments going to MN's than Darkcoin's 10%. It'll be interesting to see how the overall network security fares for those alt-DRK-coins with those settings.

[Kyune]

12 hours from now masternodes will start receiving 10% of block rewards instead of miners...seems to me like the masternode owners, by holding, investing and locking up such large amounts of DRK, will be far less-likely versus the average Joe miner, to immediately dump these DRK rewards...hence it seems to me like the block rewards are in a sense going to drop by 10% since these Darkcoins will likely be hoarded by these masternode-holders.
Is that an accurate, or somewhat close to accurate theory?
Also, the masternode payments are currently estimated at 1.3 DRK per day per masternode, which at current prices puts owning a masternode as having the best cost-benefit versus mining anything in the crypto world. Is that also accurate?
Edit: 1000 DRK = $11000. You can "pre-order" 3 1th/s butterfly labs sha asics for about $11k and according to coinwarz make .15 BTC/day (versus .03 BTC/day with masternode). So assuming Butterfly Labs ships the hardware before it's useless at least right now it might make more sense to buy a sha asic and sell it before the depreciation makes it worthless versus investing in a masternode. Of course if you buy a sha asic, or any mining rig really, you are buying an asset guaranteed to depreciate versus running a masternode which will potentially appreciate AND perform a much more useful function for mankind.
So here's a followup question, why not increase the masternode payments to 20% or 30% of block rewards to put the total payouts on par with these very optimistic assumptions above one might get with buying a rig?

JL

In your hypothetical the $11000 spent on the asics is essentially a sunk cost.  Although they may generate a larger revenue per day, eventually difficulty increases can be expected to render that mining hardware obsolete, at which point most or all of the $11000 in capital investment cannot be recovered -- they are paperweights.  In contrast, the 1000 DRK are not really a sunk cost -- when your "mining" operation is complete, or a proliferation of masternodes renders the revenue from masternodes unimpressive, you can convert your masternode back into a fully liquid 1000 DRK wallet and freely spend them.  So I see little reason to expect parity between the mining power of a $11000 mining rig and $11000 worth of DRK temporarily tied up in a masternode.

[LimLims]

Wow altcoins are a mess right now. So many coins talking about implementing anonymous transactions. Coins getting 400% price pumps just on the rumour that they will be able to do what DarkSend already does. DRK trolls everywhere. It's all pretty ugly.

I like it, it's shaking up the market. It seems we've caused a mini-boom in altcoin world.

[AngusCanine]

Anybody know how to undo a wallet.dat file that I copied over.

[Standhaft]

Anybody know how to undo a wallet.dat file that I copied over.

You mean get a fresh wallet.dat?

[raze182]

Anybody know how to undo a wallet.dat file that I copied over.

If you're using Windows, you could try Properties > Previous Versions. I haven't tested it myself and I'd back up anyway before trying.

[Jesse Livermore]

12 hours from now masternodes will start receiving 10% of block rewards instead of miners...seems to me like the masternode owners, by holding, investing and locking up such large amounts of DRK, will be far less-likely versus the average Joe miner, to immediately dump these DRK rewards...hence it seems to me like the block rewards are in a sense going to drop by 10% since these Darkcoins will likely be hoarded by these masternode-holders.
Is that an accurate, or somewhat close to accurate theory?
Also, the masternode payments are currently estimated at 1.3 DRK per day per masternode, which at current prices puts owning a masternode as having the best cost-benefit versus mining anything in the crypto world. Is that also accurate?
Edit: 1000 DRK = $11000. You can "pre-order" 3 1th/s butterfly labs sha asics for about $11k and according to coinwarz make .15 BTC/day (versus .03 BTC/day with masternode). So assuming Butterfly Labs ships the hardware before it's useless at least right now it might make more sense to buy a sha asic and sell it before the depreciation makes it worthless versus investing in a masternode. Of course if you buy a sha asic, or any mining rig really, you are buying an asset guaranteed to depreciate versus running a masternode which will potentially appreciate AND perform a much more useful function for mankind.
So here's a followup question, why not increase the masternode payments to 20% or 30% of block rewards to put the total payouts on par with these very optimistic assumptions above one might get with buying a rig?

JL

In your hypothetical the $11000 spent on the asics is essentially a sunk cost.  Although they may generate a larger revenue per day, eventually difficulty increases can be expected to render that mining hardware obsolete, at which point most or all of the $11000 in capital investment cannot be recovered -- they are paperweights.  In contrast, the 1000 DRK are not really a sunk cost -- when your "mining" operation is complete, or a proliferation of masternodes renders the revenue from masternodes unimpressive, you can convert your masternode back into a fully liquid 1000 DRK wallet and freely spend them.  So I see little reason to expect parity between the mining power of a $11000 mining rig and $11000 worth of DRK temporarily tied up in a masternode.

Right, running a MN and a pricey btc asic are definitely not an apples to apples comparisons however you are still getting a chunk of money back when you sell the asic. How much depends on other variables like how long you use it and how fast technology evolves while you run it. And running a MN also has potentially positive variables like how much DRK appreciates while you run it.  So ya, apples and oranges.

[Standhaft]

DarkSend being closed-source is a HUGE problem to anyone holding DRK.

How does one know that the devs aren't double spending their stash or just adding to their total stash and selling them?

If it is closed source this is then possible.

Hence why such a pump could happen.

Having a public-ledger that bitcoin and litecoin has is important to verify where coins came from. Otherwise what is the point of anonymity? Anyone can just send coins and then claim they never sent them to sell on an exchange? lol...how retarded is that?

+11111111111111111111111111111111111111111111111111111111111111111111111111

P.S
Consider all why they erase my post last time

First of all, still all coins are on the blockchain, whether they are being darksent or not. The point of anonymity is to not being tracked on what you are doing. I wouldn't want it, if my adress is public that everyone can see what I buy, where and when. Just like with cash or even a debit card. Who would you give your bank statements to? Right, noone.

And you all seem to forget, with every cash currency, e.g. €, US$, etc.. there are all huge black markets that are invisible for everyone

[nzminer]

148 ghash and 5267 difficulty. thanks to all the whales this is unminable.

even 600,000 khash whales mine only 10 dark a day.

pathetic.

Yeah and imagine how much electricity it would cost!

I think DRK has grown too fast, it has to level out soon, its totally unmineable at the moment, a month ago i could get 4 dark per day at 4 MH!

This may very well push the price of DRK up, but even so the price increase is not enough to cover miners costs.

We need ASICS now or else people will stop mining.

No we dont, and no they wont. Remember that not every one here is for the same reasons you are (make a profit), some people are here for the ideology of the coin and will mine as they see the greater scheme of things and are not blinded by profit like yourself.

Actually im not here for profit, but clearly lots of other people are, hence the rapid buyup of DRK this month, just read all the posts here of peoples price predictions, i think its silly, maybe in 3 or 4 years.
No cryptocurrency should be treated as a get rich quick scheme, but alot are treating them just as that.
Even if DRK got to $1000, its unprofitable unless you have a powerful, efficient mining farm, it would take me almost a month just to mine 1 DRK with my old rig, its far cheaper (and smarter) to buy them at present, if the electricity costs more than mining the coins its obviously the sensible way to go (correct me if im wrong)

[Standhaft]

148 ghash and 5267 difficulty. thanks to all the whales this is unminable.

even 600,000 khash whales mine only 10 dark a day.

pathetic.

Yeah and imagine how much electricity it would cost!

I think DRK has grown too fast, it has to level out soon, its totally unmineable at the moment, a month ago i could get 4 dark per day at 4 MH!

This may very well push the price of DRK up, but even so the price increase is not enough to cover miners costs.

We need ASICS now or else people will stop mining.

No we dont, and no they wont. Remember that not every one here is for the same reasons you are (make a profit), some people are here for the ideology of the coin and will mine as they see the greater scheme of things and are not blinded by profit like yourself.

Actually im not here for profit, but clearly lots of other people are, hence the rapid buyup of DRK this month, just read all the posts here of peoples price predictions, i think its silly, maybe in 3 or 4 years.
No cryptocurrency should be treated as a get rich quick scheme, but alot are treating them just as that.
Even if DRK got to $1000, its unprofitable unless you have a powerful, efficient mining farm, it would take me almost a month just to mine 1 DRK with my old rig, its far cheaper (and smarter) to buy them at present, if the electricity costs more than mining the coins its obviously the sensible way to go (correct me if im wrong)

If the price is at $1k this would create a buying pressure of $2,88m. Bitcoin currently is at ~$4m I think. $1k DRK would mean a market cap of about 450 million. I don't see how drk would be unprofitable by then. Of course it is cheaper by then to just buy DRK instead of mining since currently it only needs about 2880 DRK/day * $13 = $37440 to buy up all daily mined DRK. If you go by this logic, DRK is way undervalued so you'd be better off by mining more profitable coins and exchange them for DRK.

(I just looked up profitability: http://www.coinwarz.com/cryptocurrency DRK doesnt seem to look so bad compared to other coins though)

Also people arguing that richer people get richer. Look at bitcoin, the miners are pretty expensive and will eventually be useless because of next generations with more power. Master nodes will always be viable. Additionally I am sure that you will be able to purchase shares of master nodes in the not too far future (from serious offers obviously).

[Rux]

morning guys... so this is for our FUDs

https://www.youtube.com/watch?v=EAwWPadFsOA

i said, we are at correction and they didnt belived me... now suck our fingers

[jakecrow]

now suck our fingers

Don't think I've ever heard that one before lol