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Author Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency  (Read 9723473 times)
Kai Proctor
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June 06, 2014, 11:48:51 AM
 #34281

A deep FUD of DRK

This guanchayuan guy is the Chinese guy whose friend has a lot of DRK and he doesn't have any so he is very angry.

That's some anger.
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June 06, 2014, 11:58:10 AM
 #34282

Tired of the FUD ? Read the FAQ : http://wiki.darkcoin.eu/wiki/FAQ

Was Darkcoin Instamined?
Quote
~2mn coins were issued in the first 48 hours due to problems with the difficulty readjustment. That represents approximately 10-15% of the total money supply that will ever be issued.

The majority of these coins were distributed through the market in the following weeks and months at very low price levels* (0.0000x BTC per DRK to 0.000x BTC per DRK) and a lot of them were also absorbed in the April/May 2014 price increase.

  • Examples of prices and selling action almost two weeks after launch:

https://bitcointalk.org/index.php?topic=421615.msg4861558#msg4861558

https://bitcointalk.org/index.php?topic=421615.msg4889177#msg4889177

I read someone who wrote that 50% of the coins in circulation are owned by the devs
Quote
No. This is a classic case of spreading FUD (Fear Uncertainty and Doubt) by supporters of other cryptocurrencies who perceive Darkcoin as a threat to the coin they support.

The coin has been well distributed through exchanges since early February 2014 – almost 15-20 days after the coin's launch. One could buy as many cheap DRKs as they wanted, with prices of 0.0000x per DRK or 0.0001x per DRK. This can be verified by historic charts of c-cex.com and poloniex.com of early Feb 2014. These two exchanges were the first that adopted DRK. Huge buy orders of 20-30-50k DRKs were being filled by early miners who were dumping their coins for pennies, not really appreciating the coin they had in their possession due to the “abundant” way in which they mined it as people do not really appreciate what they are given in ample quantity.

Miners who “instamined” large quantities never foresaw the huge price increase and as such sold over a million coins at prices from 0.0000x up to 0.002 – with the first large batch being sold after DRK hit the exchanges and the next large batches being sold from February 2014 to April 2014 @ 0.0015 BTC price levels. In fact, many coin holders were complaining* of all the “dumping” by those who held cheap coins from the start that kept the price at artificially low levels for 2 months straight.

The dumping ended, due to tremendous market demand, when a “pump” was initiated by “whale” buyers that swallowed millions of USD (in DRKs), raising the price from 0.0012 to 0.017 within a few weeks.

  • During this dumping period there were certain individuals who spread FUD about how the coin will never rise in price due to the instaminers dumping continuously. These are typically the same people who are claiming that the 50% instamine distribution affects the coin distribution today. However it is impossible to simultaneously claim that the coins were being dumped and that the 50% instamine holds true today. It's either one or the other. Since the coins were being dumped, the 50% instamine distribution was gradually reduced with each dumping wave. Blockchain analysis indicates a well distributed coin, reflecting the fact that the dumped coins were evenly distributed through the market. Early distribution is not currently an issue as huge buyers have been reshuffling the "rich-list" in their favor, buying millions of dollars in Darkcoins during May 2014. Late distribution through aggressive buying is currently more of a concern than early distribution.
The Birth Of Darkcoin (Mar 29, 2014 by Evan Duffield)
Quote

    This is the story of how Darkcoin came about. Recently the community has grown a lot and many people here aren’t aware at all of the early history of the coin. I’m sure you’ll see from the full story that I would have done things much differently, but hindsight is always 20/20.

    So who am I and what do I offer?

    My name is Evan Duffield and I’ve been developing software since I was 15. I also have a history in finance and an interest in economics and machine learning. I’ve worked all over the space for PR firms, creating search engines and machine learning algorithms for financial modeling.

    I’ve have a rewarding career and consider myself lucky to have been a part of many great projects. Also, it’s worth noting when I worked at Hawk Financial Group I got my series 65 (a financial advisor license) and I’ve used that knowledge extensively for Darkcoin.

    The birth of Darkcoin

    I discovered Bitcoin in mid 2010 and was obsessed ever since. After a couple of years in 2012 I started really thinking about how to add anonymity to Bitcoin. I came up with maybe 10 ways of doing this, but I soon realized that Bitcoin would never add my code. The developers really want the core protocol to stay the same for the most part and everything else to be implemented on the top of it.

    This was the birth of the concept of Darkcoin. I implemented X11 in a weekend and found it worked pretty well and it would give a completely fair start to the currency. What I really was aiming for with X11 is a similar development curve where miners would fight to create small advantages much like the early start of Bitcoin. I think this a requirement to create a healthy ecosystem.

    Next I was thinking about changing the reward system. I thought it would be an interesting experiment to add more incentives to join mining early on, driving up the hashrate and protecting the network, that’s when I came up with 1111.0 / ((x+1.0)^2.0), which was the first formula for controlling rewards.

    Launch

    It was January 18, 2014 and I had everything ready or so I thought. I announced the launch of Darkcoin (XCoin at the time) on BitcoinTalk. We launched later and immediately got stuck on block 42, I was new to the Bitcoin codebase and wasn’t sure what I missed so I announced we’d relaunch later.

    When we relaunched we had a rush of miners join causing a huge spike of coin production without it being able to adjust the difficulty quick enough, we just ended up spilling out coins. Retargeting happened every 576 blocks and could only increase the difficulty by four times, so it took about six retargets to get to a difficulty that was near 2.5 minutes per block.

    Later on, after the difficulty evened out we realized that there was a serious problem with the block reward calculation. You can see people discussing the problems here:

    https://bitcointalk.org/index.php?topic=421615.120

    I soon fixed this issue at block 4500, but none of us realized the amount of coins that had been issued at the time. At that point we didn’t even have a block explorer yet.

    Growth

    Right after block 4500 is when I started working on DarkSend. I was trying to create a proof-of-concept and eventually I succeeded, I posted about it and our coin started to become more popular by the day. This is when the coin became a serious project of mine.

    Later on we switched to 11111.0 / ((Difficulty+51.0)/6.0)^2), these formulas proved to be much more powerful incentives to drive up the difficulty than I thought they would. Soon after we switched to (2222222.0 / ((Difficulty+2600.0)/9.0)^2.0), targeting a difficulty of about 3400.


    In the end?

    Darkcoin started from a few months of me thinking about ways to create a better coin and a couple weekends of coding. It wasn’t till later that we got established and I really started taking this seriously. Anyone can compare our recent efforts to the sorted past and see things are going much smoother. No one really knew how much this would blow up (in a good way) and how popular it would be, otherwise I would have took my time in the beginning.

    Goals and the future of Darkcoin

    I don’t believe the origins of Darkcoin are too much to overcome, but investors and users are going to have to decide for themselves if they want to support the project. Recently I’ve shifted away from other projects to going full time on Darkcoin. I think with a full time developer and our solid community we’ll be able to make something great.

    It’s only been a couple months and we have a lot to show for it (X11, DGW and DarkSend Beta) and there is more in the works. This obviously didn’t go perfect but I think we have a really fantastic community and I see a really bright future for Darkcoin.


Of course mudslinging is easier than innovation. So keep creating new accounts while the Darkcoin team is innovating. Have a good day !


Of course mudslinging is easier than innovation. So keep creating new accounts while the Darkcoin team is innovating. Have a good day !
[/quote]
Innovation is a very difficult,Please don't be so black?      DRK   Please open source
Kai Proctor
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June 06, 2014, 12:04:04 PM
 #34283


Innovation is a very difficult,Please don't be so black?      DRK   Please open source

Darkcoin is open source. DarkSend is not open source yet. The dev team follows its own schedule, not yours.  Wink
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June 06, 2014, 12:06:23 PM
 #34284

guanchayuan

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Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | ASIC Resistant
Today at 11:58:10 AM
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guanchayuan

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Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | ASIC Resistant
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You sir are absolutely right! You suffer from a permanent ignored state and there's nothing you can do about it! Good luck Grin

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June 06, 2014, 12:11:05 PM
 #34285

Previous comments aside- I think based on how respected he is in the community having a core bitcoin dev give the nod of approval would essentially implant this coin as the #2 instantly.

However, I hope he is open and willing to provide an honest un-biased opinion based purely on the solution -  and not from a "bitcoin is the only solution" approach.

So Evan - we have secured you a reviewer - I trust your decision on who you think is best Smiley

gmaxwell, I think it would be great if you could spare some of your time to review Darkcoin's code once Evan has completed it.
I have no doubt that you would be able to provide valuable constructive feedback to Evan. Collaboration I see is the key to evolution and advancing ourselves in the crypto technology space - I am sure with both of your minds together something great could happen!
I will, if someone remembers to point me to it— ideally if it also comes with a high level design document so I don't have to extract all the behavior from the code (doing so is very time consuming).


Great work stealth923 ! The whitepaper is out of date but I think I saw Evan saying it will be worked on down the road. We should also seek volunteers to vet the actual code too.
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June 06, 2014, 12:13:07 PM
 #34286

Previous comments aside- I think based on how respected he is in the community having a core bitcoin dev give the nod of approval would essentially implant this coin as the #2 instantly.

However, I hope he is open and willing to provide an honest un-biased opinion based purely on the solution -  and not from a "bitcoin is the only solution" approach.

So Evan - we have secured you a reviewer - I trust your decision on who you think is best Smiley

gmaxwell, I think it would be great if you could spare some of your time to review Darkcoin's code once Evan has completed it.
I have no doubt that you would be able to provide valuable constructive feedback to Evan. Collaboration I see is the key to evolution and advancing ourselves in the crypto technology space - I am sure with both of your minds together something great could happen!
I will, if someone remembers to point me to it— ideally if it also comes with a high level design document so I don't have to extract all the behavior from the code (doing so is very time consuming).


Great work stealth923 ! The whitepaper is out of date but I think I saw Evan saying it will be worked on down the road. We should also seek volunteers to vet the actual code too.

Yes, well played stealth923!
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June 06, 2014, 12:16:24 PM
 #34287

Previous comments aside- I think based on how respected he is in the community having a core bitcoin dev give the nod of approval would essentially implant this coin as the #2 instantly.

However, I hope he is open and willing to provide an honest un-biased opinion based purely on the solution -  and not from a "bitcoin is the only solution" approach.

So Evan - we have secured you a reviewer - I trust your decision on who you think is best Smiley

gmaxwell, I think it would be great if you could spare some of your time to review Darkcoin's code once Evan has completed it.
I have no doubt that you would be able to provide valuable constructive feedback to Evan. Collaboration I see is the key to evolution and advancing ourselves in the crypto technology space - I am sure with both of your minds together something great could happen!
I will, if someone remembers to point me to it— ideally if it also comes with a high level design document so I don't have to extract all the behavior from the code (doing so is very time consuming).


Great work stealth923 ! The whitepaper is out of date but I think I saw Evan saying it will be worked on down the road. We should also seek volunteers to vet the actual code too.
Can his opinion be unbiased ?
CripLib
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June 06, 2014, 12:17:02 PM
 #34288

STOP spreading FUD Chinese DarkKnights and start buying or you miss the train again




Let them attack us... it means nothing in the long run.

XD I've already bought some more DRKs during this morning low, and I have already scrambled some more BTC to Mintpal just waiting for the next opportunity to buy even more DRKs Wink

If that's the way they want to play the game, so let's just relax and make our DRK profits on these attackers expenses Cheesy

I am also always ready: BTCs already at Cryptsy waiting for the next buy of DRKs

(and in the end, when we're all rich, we MUST have a party to commemorate)

btw, could someone please indicate to these trolls the nearer DRK faucet? Maybe when they go there we might have some peace here.

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June 06, 2014, 12:19:24 PM
 #34289

 Why do you guys stress so much with trolls? (not that I like them or feed them... well, maybe one or two for fun and games...)

 Anyone who is serious about business does proper research and fully understands what the whole deal with Darkcoin is. Let them FUD, it will not harm the price, only daily-diddly-crypto traders. And yes, helps keep the price down, and whilst its so bloody cheap to invest in DRK, its great not to have a wave of crypto-hoppers volatilising even more the price

 
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June 06, 2014, 12:21:13 PM
 #34290

Previous comments aside- I think based on how respected he is in the community having a core bitcoin dev give the nod of approval would essentially implant this coin as the #2 instantly.

However, I hope he is open and willing to provide an honest un-biased opinion based purely on the solution -  and not from a "bitcoin is the only solution" approach.

So Evan - we have secured you a reviewer - I trust your decision on who you think is best Smiley

gmaxwell, I think it would be great if you could spare some of your time to review Darkcoin's code once Evan has completed it.
I have no doubt that you would be able to provide valuable constructive feedback to Evan. Collaboration I see is the key to evolution and advancing ourselves in the crypto technology space - I am sure with both of your minds together something great could happen!
I will, if someone remembers to point me to it— ideally if it also comes with a high level design document so I don't have to extract all the behavior from the code (doing so is very time consuming).


Great work stealth923 ! The whitepaper is out of date but I think I saw Evan saying it will be worked on down the road. We should also seek volunteers to vet the actual code too.
Can his opinion be unbiased ?

Let him pick holes in the code if he can, Evan will fix what needs fixing. His broader opinions are his own business, I see no need to care about them.
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June 06, 2014, 12:22:49 PM
 #34291

guanchayuan

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+1 Smiley

BE SMART, USE DASH ( ͡° ͜ʖ ͡°)
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June 06, 2014, 12:22:57 PM
 #34292

click!
https://hitbtc.com/vote

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June 06, 2014, 12:27:24 PM
 #34293


raganius
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June 06, 2014, 12:27:46 PM
 #34294

Coindesk news on multicoin app for tipping on facebook:

http://www.coindesk.com/facebook-approves-first-cryptocurrency-tipping-apps/

Here if there is any interest to include Darkcoin:

http://www.whitepuma.net/multitipping/forum/index.php?mode=page&id=4



Great, thank's for the news!
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June 06, 2014, 12:57:13 PM
 #34295

The prospect of the anonymous market catching at least 10% of the marketcap of the transparent market  (in other words anonymous coins sharing a 1bn marketshare pie) has now been accelerated Grin


One definitely would hope so! Hopefully people read up and become aware.

Btw, we'll also need decentralized exchanges.

OK I just jizzed...

What a great idea...

The new generation have arrived and they brought their own currency...
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June 06, 2014, 01:05:27 PM
 #34296

Quote from: Evan Duffield @ darkcointalk.org
So I've already implemented half of what I need for cold storage of the masternode funds. That secondary key that's in the config will be shared between the cold and hot daemon.

Cold storage for Masternodes is on the way. Smiley

source: https://darkcointalk.org/threads/help-test-rc2-forking-issues.1009/page-16
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June 06, 2014, 01:09:58 PM
 #34297

Tifozi et all, can you please keep us posted on news from the devs coz we don't know wtf is going on. I was told yesterday evean would have some news in 2-3 days...
I'd love to know what's going on.
Please make such posts a regular thing in here so peeps can keep track about wtf...
the drkcoin reddit is lame and the dev update link is also a dead thread


https://darkcointalk.org/forums/official-developer-thread.15/

In general you should keep track of the most active thread in that subforum. Right now that is the thread titled "Help test RC2 forking issues".

A spoiler from the last page of that thread:

Quote from: eduffield
So I've already implemented half of what I need for cold storage of the masternode funds.

Edit: Beaten to it  Tongue
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June 06, 2014, 01:17:53 PM
 #34298

wow great cold storage!! just in between solving fork issues and masternode ghosts, that Evan Smiley

This is the FUNDAMENTALS at work  Cool

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June 06, 2014, 01:19:49 PM
 #34299

Quote from: Evan Duffield @ darkcointalk.org
So I've already implemented half of what I need for cold storage of the masternode funds. That secondary key that's in the config will be shared between the cold and hot daemon.

Cold storage for Masternodes is on the way. Smiley

source: https://darkcointalk.org/threads/help-test-rc2-forking-issues.1009/page-16

omg this is huge for me and I bet a lot of others. Massive smile if this works out

Trade crypto? Check out Quatloo Trader - https://bitcointalk.org/index.php?topic=711966.0
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June 06, 2014, 01:23:27 PM
 #34300

I bet coins101 just heard it while depositing at the Darkbank  Grin Grin
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