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

[g0re79]

So whats this hard fork for can someone explain this. Is it just to pay the supernodes off or is their more to it in detail. Any information for what this hard fore is for please thanks.

I would like to know more about it as well!

Me too, I have quite a picture of that, but still bit confused (off course its not only about supernodes payout)

[anonymousxx1503]

So whats this hard fork for can someone explain this. Is it just to pay the supernodes off or is their more to it in detail. Any information for what this hard fore is for please thanks.

I would like to know more about it as well!

Me too, I have quite a picture of that, but still bit confused (off course its not only about supernodes payout)

First of all, they're Masternodes. You need exactly 1000 DRK to run a Masternode, right now there are around 280 out there. The Masternodes decentralize the anonimity of Darkcoin and serve an additional function to stabilize and help the Darkcoin rise in price. They pay out 20% of the block reward to Masternode owners (this is a completely new concept never done before by ANY other coin). The Masternodes are randomly elected for payout and earn on average (right now) approx 1.7-2 DRK/day. The removal of coins from circulation increases rarity of the coin, encourages people to buy DRK to earn revenue and thus helps it appreciate in value. Additionally I believe that Evan has more features planned for Masternodes since they enable first of its kind "Proof of Service". The possibilities are amazing.

[g0re79]

So whats this hard fork for can someone explain this. Is it just to pay the supernodes off or is their more to it in detail. Any information for what this hard fore is for please thanks.

I would like to know more about it as well!

Me too, I have quite a picture of that, but still bit confused (off course its not only about supernodes payout)

First of all, they're Masternodes. You need exactly 1000 DRK to run a Masternode, right now there are around 280 out there. The Masternodes decentralize the anonimity of Darkcoin and serve an additional function to stabilize and help the Darkcoin rise in price. They pay out 20% of the block reward to Masternode owners (this is a completely new concept never done before by ANY other coin). The Masternodes are randomly elected for payout and earn on average (right now) approx 1.7-2 DRK/day. The removal of coins from circulation increases rarity of the coin, encourages people to buy DRK to earn revenue and thus helps it appreciate in value. Additionally I believe that Evan has more features planned for Masternodes since they enable first of its kind "Proof of Service". The possibilities are amazing.

Oh, sorry for that "supernode", its 4:30 AM here All this I know, but what else is this hard fork for? I thought that it will fix fork issue some way..

[Minotaur26]

So whats this hard fork for can someone explain this. Is it just to pay the supernodes off or is their more to it in detail. Any information for what this hard fore is for please thanks.

I would like to know more about it as well!

This hard fork implements a voting system that selects the right masternode to pay for the mixing service in each block in a way that is tamper proof, so there is no trust involved. This is the first proof of service system where neither the miners nor the pool operators have any influence over the payment taking place and no one can cheat. In the future it will be possible to use this feature to pay for other services like hosting the blockchain to serve light wallets. This promotes for investors to hold to provide a service to the network and earn a return and is way better than proof of stake because the holders are actually providing valuable services instead of doing nothing. I think this feature is as important as anonymity and separates DRK from any other coin anonymous or not.


Read the details here directly from the developer Evan Duffield:

https://darkcointalk.org/threads/development-update-6-6-2014-masternode-payments.1126/

https://darkcointalk.org/threads/darkcoin-update-masternode-requirements-masternode-payments.225/

EDIT: the forking issue we had last time was precisely trying to implement this so basically yeah this one corrects all previous issues and adds the ability to run a masternode with a cold wallet which makes running a masternode 100% safe.

[wmr1988]

So whats this hard fork for can someone explain this. Is it just to pay the supernodes off or is their more to it in detail. Any information for what this hard fore is for please thanks.

I would like to know more about it as well!

Me too, I have quite a picture of that, but still bit confused (off course its not only about supernodes payout)

First of all, they're Masternodes. You need exactly 1000 DRK to run a Masternode, right now there are around 280 out there. The Masternodes decentralize the anonimity of Darkcoin and serve an additional function to stabilize and help the Darkcoin rise in price. They pay out 20% of the block reward to Masternode owners (this is a completely new concept never done before by ANY other coin). The Masternodes are randomly elected for payout and earn on average (right now) approx 1.7-2 DRK/day. The removal of coins from circulation increases rarity of the coin, encourages people to buy DRK to earn revenue and thus helps it appreciate in value. Additionally I believe that Evan has more features planned for Masternodes since they enable first of its kind "Proof of Service". The possibilities are amazing.

I don't think the original  'purpose' of masternodes was to increase DRK's value, it is a side effect.

[JGCMiner]

EDIT: the forking issue we had last time was precisely trying to implement this so basically yeah this one corrects all previous issues and adds the ability to run a masternode with a cold wallet which makes running a masternode 100% safe.

+1

I think this is the answer to the questions asked.

[anonymousxx1503]

So whats this hard fork for can someone explain this. Is it just to pay the supernodes off or is their more to it in detail. Any information for what this hard fore is for please thanks.

I would like to know more about it as well!

Me too, I have quite a picture of that, but still bit confused (off course its not only about supernodes payout)

First of all, they're Masternodes. You need exactly 1000 DRK to run a Masternode, right now there are around 280 out there. The Masternodes decentralize the anonimity of Darkcoin and serve an additional function to stabilize and help the Darkcoin rise in price. They pay out 20% of the block reward to Masternode owners (this is a completely new concept never done before by ANY other coin). The Masternodes are randomly elected for payout and earn on average (right now) approx 1.7-2 DRK/day. The removal of coins from circulation increases rarity of the coin, encourages people to buy DRK to earn revenue and thus helps it appreciate in value. Additionally I believe that Evan has more features planned for Masternodes since they enable first of its kind "Proof of Service". The possibilities are amazing.

I don't think the original  'purpose' of masternodes was to increase DRK's value, it is a side effect.

Evan actually thought of most aspects it seems. He has a lot of experience programming in the financial domain and I remember in another post him explain both the anonimity, the proof of service and the financial aspect of it. It's a really cool concept.

[naxin]

So whats this hard fork for can someone explain this. Is it just to pay the supernodes off or is their more to it in detail. Any information for what this hard fore is for please thanks.

I would like to know more about it as well!

Me too, I have quite a picture of that, but still bit confused (off course its not only about supernodes payout)

First of all, they're Masternodes. You need exactly 1000 DRK to run a Masternode, right now there are around 280 out there. The Masternodes decentralize the anonimity of Darkcoin and serve an additional function to stabilize and help the Darkcoin rise in price. They pay out 20% of the block reward to Masternode owners (this is a completely new concept never done before by ANY other coin). The Masternodes are randomly elected for payout and earn on average (right now) approx 1.7-2 DRK/day. The removal of coins from circulation increases rarity of the coin, encourages people to buy DRK to earn revenue and thus helps it appreciate in value. Additionally I believe that Evan has more features planned for Masternodes since they enable first of its kind "Proof of Service". The possibilities are amazing.

I don't think the original  'purpose' of masternodes was to increase DRK's value, it is a side effect.

Evan actually thought of most aspects it seems. He has a lot of experience programming in the financial domain and I remember in another post him explain both the anonimity, the proof of service and the financial aspect of it. It's a really cool concept.

The idea was to create a cyclical equilibrium where price stability can be maintained by incentives to hold, which then supports anonymity because as more nodes are acquired the price will significantly rise as coins are pulled out of circulation, thus making a masternode attack cost-prohibitively expensive (where a masternode attack would be gaining enough masternodes to be able to de anonymize a significant portion of transactions)

[newb4now]

hello there is a a backdoor in the version 10.8.8 i have been stolen 999 dark coin from my master node
here is my wallet address http://chainz.cryptoid.info/drk/address.dws?XfNfxwfQpVKccGprG6PdRWT2UtMGoM9gCL.htm

it has been moved to this wallet XwKx3mWB9ncJo5ZudqyEZ1MoQWMSmE3CwP

it seems either the devs or someone who gave the version given on darkcoin.io got a backdoor


here is the log of my masternode server
 st login : from 192.162.103.175

Can you give a little more info, did you have the wallet encrypted? How was your darkcoin.conf setup?

the wallet was encrypted by  a hard password
the wallet was started as use and not root
i have changed the ssh port from 22 to another
installed fail2ban
did all security thing and still got hacked
the starge thing is that it has been sent only 999 and not all of the darks which is 1000.6
the walet that received the dark is XwKx3mWB9ncJo5ZudqyEZ1MoQWMSmE3CwP
is there anything to do to block that wallet adress? before he move it somewhere else and sell ?

I am excited for tomorrow. That being said, PLEASE be careful and secure all of your DRK if you will running a masternode. At these prices 1000 DRK is worth a lot of money! If you are unsure if you are doing things correctly I advise you to wait until you are SURE everything is perfectly secure.

Be safe!

How is this even an issue anymore with cold storage masternodes?

Its an issue because a lot of people have been having a hard time setting up the cold storage masternode... the wallet still needs to be connected to the masternode during setup and can be in danger if not secured properly.

In theory you are correct that the new system will be MUCH safer. However many people do not have the technical expertise to implement it properly...

[LimLims]

Its an issue because a lot of people have been having a hard time setting up the cold storage masternode... the wallet still needs to be connected to the masternode during setup and can be in danger if not secured properly.

In theory you are correct that the new system will be MUCH safer. However many people do not have the technical expertise to implement it properly...

If they don't have the technical expertise even to follow the cold wallet masternode setup instructions, they shouldn't be running a masternode.

If you didn't know how to lock your safe, would you store cash in it?

[Propulsion]

Its an issue because a lot of people have been having a hard time setting up the cold storage masternode... the wallet still needs to be connected to the masternode during setup and can be in danger if not secured properly.

In theory you are correct that the new system will be MUCH safer. However many people do not have the technical expertise to implement it properly...

If they don't have the technical expertise even to follow the cold wallet masternode setup instructions, they shouldn't be running a masternode.

If you didn't know how to lock your safe, would you store cash in it?

Wow. Long time no posts LimLims! It's almost impossible to lose your coins using a cold wallet and remote server method.

[naxin]

Its an issue because a lot of people have been having a hard time setting up the cold storage masternode... the wallet still needs to be connected to the masternode during setup and can be in danger if not secured properly.

In theory you are correct that the new system will be MUCH safer. However many people do not have the technical expertise to implement it properly...

If they don't have the technical expertise even to follow the cold wallet masternode setup instructions, they shouldn't be running a masternode.

If you didn't know how to lock your safe, would you store cash in it?

Unfortunately as we have seen, people don't like that advice and refuse to listen to it. At least one person has lost 1000 DRK as a result. My guess is at least 5 more MNs are compromised within the next month.

[naxin]

Its an issue because a lot of people have been having a hard time setting up the cold storage masternode... the wallet still needs to be connected to the masternode during setup and can be in danger if not secured properly.

In theory you are correct that the new system will be MUCH safer. However many people do not have the technical expertise to implement it properly...

If they don't have the technical expertise even to follow the cold wallet masternode setup instructions, they shouldn't be running a masternode.

If you didn't know how to lock your safe, would you store cash in it?

Unfortunately as we have seen, people don't like that advice and refuse to listen to it. At least one person has lost 1000 DRK as a result. My guess is at least 5 more MNs are compromised within the next month.

Wow. Long time no posts LimLims! It's almost impossible to lose your coins using a cold wallet and remote server method.

As said, if they do it correctly. But in practice that won't be the case, especially because the screw up wouldn't be visible to an unexperienced user following a guide. Their concern is that the MN is visible, which it would be. The security hole they left is invisible, to them.

[newb4now]

Its an issue because a lot of people have been having a hard time setting up the cold storage masternode... the wallet still needs to be connected to the masternode during setup and can be in danger if not secured properly.

In theory you are correct that the new system will be MUCH safer. However many people do not have the technical expertise to implement it properly...

If they don't have the technical expertise even to follow the cold wallet masternode setup instructions, they shouldn't be running a masternode.

If you didn't know how to lock your safe, would you store cash in it?

Unfortunately as we have seen, people don't like that advice and refuse to listen to it. At least one person has lost 1000 DRK as a result. My guess is at least 5 more MNs are compromised within the next month.

This is exactly my concern. There are a lot of posts in this thread with yearly masternode income estimates (depending on the number of masternodes). Those projections will make a lot of people greedy/careless including those who have no business setting up a masternode in the first place. More than once in this thread do people mention using windows instead of linux for example (for MN wallet setup) despite being warned about it being less secure

[LimLims]

Unfortunately as we have seen, people don't like that advice and refuse to listen to it. At least one person has lost 1000 DRK as a result. My guess is at least 5 more MNs are compromised within the next month.

As said, if they do it correctly. But in practice that won't be the case, especially because the screw up wouldn't be visible to an unexperienced user following a guide. Their concern is that the MN is visible, which it would be. The security hole they left is invisible, to them.

Ok -- so your concern is about MN integrity, I thought you were worried about newbies losing their coins from unsecured MNs.

It's a valid point, but I don't see an obvious solution other than making resources available for best practices, and designing darksend such that some % of compromised MNs doesn't compromise the anonymity of the transaction.

[Minotaur26]

Its an issue because a lot of people have been having a hard time setting up the cold storage masternode... the wallet still needs to be connected to the masternode during setup and can be in danger if not secured properly.

In theory you are correct that the new system will be MUCH safer. However many people do not have the technical expertise to implement it properly...

If they don't have the technical expertise even to follow the cold wallet masternode setup instructions, they shouldn't be running a masternode.

If you didn't know how to lock your safe, would you store cash in it?

Unfortunately as we have seen, people don't like that advice and refuse to listen to it. At least one person has lost 1000 DRK as a result. My guess is at least 5 more MNs are compromised within the next month.

This is exactly my concern. There are a lot of posts in this thread with yearly masternode income estimates (depending on the number of masternodes). Those projections will make a lot of people greedy/careless including those who have no business setting up a masternode in the first place. More than once in this thread do people mention using windows instead of linux for example (for MN wallet setup) despite being warned about it being less secure

Dude what are you guys talking about, with the cold masternodes there is 0 risk of loosing your coins. The masternode is either running with 0 coins in the machine that has the IP public or is not. There is not a more or less option you either have a cold masternode running or you dont have a masternode running at all if what you are attempting is to run it cold.  You cant end up running a hot wallet masternode by attempting to set up a cold one the process is completely different. The system is 100% safe now.

[g0re79]

Its an issue because a lot of people have been having a hard time setting up the cold storage masternode... the wallet still needs to be connected to the masternode during setup and can be in danger if not secured properly.

In theory you are correct that the new system will be MUCH safer. However many people do not have the technical expertise to implement it properly...

If they don't have the technical expertise even to follow the cold wallet masternode setup instructions, they shouldn't be running a masternode.

If you didn't know how to lock your safe, would you store cash in it?

Unfortunately as we have seen, people don't like that advice and refuse to listen to it. At least one person has lost 1000 DRK as a result. My guess is at least 5 more MNs are compromised within the next month.

This is exactly my concern. There are a lot of posts in this thread with yearly masternode income estimates (depending on the number of masternodes). Those projections will make a lot of people greedy/careless including those who have no business setting up a masternode in the first place. More than once in this thread do people mention using windows instead of linux for example (for MN wallet setup) despite being warned about it being less secure

Agree, but if its only about 2.5% of all masternodes its not so big deal. I am afraid it´ll be more. I am quite skilled, but still afraid (and not so greedy) to try to run MN

[Sleepyx]

Greedy to run a masternode? lol just stop guys, its lame.

[g0re79]

Greedy to run a masternode? lol just stop guys, its lame.

I mean that its not so hard to do some math how profitable is running MN. And there are lot of greedy and stupid ppl in cryptoscene.

[newb4now]

Greedy to run a masternode? lol just stop guys, its lame.

I mean that its not so hard to do some math how profitable is running MN. And there are lot of greedy and stupid ppl in cryptoscene.

Exactly. Masternodes are not meant to be a get rich quick scheme. They can be very profitable over the long term. Right now we have enough for DarkSend to work properly.

There is no rush for people who are not experts in linux, ubuntu, network security, etc to rush to have one set up on day 1 of MN payments.

Eventually I plan on setting up multiple masternodes myself. However I plan to wait until the step by step process has been tested by more people (without the expertise I mention above) to make sure it is completely dummy proof.

I am not naive enough to think there are 0 risks for someone like me to run a masternode. I am sure there are others in my situation who would be well advised to take their time as well (instead of rushing MN setup now just because the total MN count is lower and payments will be higher now than in the future).