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

[luigi1111]

DRK price has been so stable since November 18th - like a straight line almost on bitcoinwisdom......

It's truly boring.

[strix]

Hope this helps spark debate and intrest if nothing else...!  

Walter

Nice write-up Walter! I would like to point out a couple of differences between masternodes and stocks/bonds/certs.of deposit etc. In each of the above cases the money invested is still flowing in the economy. It is simply the investor who looses access to it in exchange for a hoped for return. In the case of a stock or bond the holder has a promise while the issuer has the cash and proceeds to use it to buy goods and services. Those who provide the goods or services now have the cash and the flow proceeds. In the case of "savings accts" or certs. of deposits, the funds are loaned out and used to create even more funds on a fractional reserve basis, thus further "greasing the wheels of commerce" and paving the way  for societies collapse as the new funds are loaned into existence WITHOUT creating the interest which must be payed back. In any case, unless the funds are kept as cash in the equivalent of a mattress (and losing value to inflation), the funds continue to flow, while the initiator no longer has access to them, and must wait some time before seeing them return to his/her ability to spend them.

Masternodes on the other hand extract existing (or newly created) funds for services rendered in exchange for keeping funds out of circulation. There are a number of subtle trade-offs being made here, the most notable of which is present return in exchange for present restraint in spending. (A side benefit is the reduction of the likelihood of various forms of attack.)  Unlike stocks, bonds, or savings accounts, there is no commitment involved, and the funds may be immediately spent with NO penalty. Saving in this model is deflationary, as opposed to the inflationary saving of fractional debt based economies. Not only do masternodes work in an anti-inflationary manner they encourage savings as they lead to the accumulation of an appreciating asset in addition to simply holding an asset expected to appreciate. This works against the pump and dump cycles so prevalent to this point, and serves to cause the currency to appreciate in value as opposed to inflating. At the same time the fundamental utility of DRK as privacy protection and point-of-sale utility will work to drive it into circulation as adoption increases thus limiting the effects of hoarding.

This latter benefit will become more pronounced as the lack of privacy inherent in Bitcoin becomes well known. At this point in time, Bitcoin has only three raisons d'être; privacy, international transfers, and hoarding in hopes of appreciation. With the first removed, the second becomes doubtful, leaving only the third. Sadly, it quickly becomes a case of hoarding something nobody wants; values fall, and then fewer wish to hoard.

The promise of Bitcoin has become blunted as the mystique of privacy has been peeled away by advances in monitoring and blockchain analysis. It seems that its value proposition is now based on the hopes of deep-pocket Wall Street tycoons who would not invest such large amounts without expecting a return. That return of course, is based on the promise of States and their Banks (better said Banks and their States) providing safety through regulation. Hence in coming days I expect we will see some very nice and profitable boom and bust cycles with Bitcoin, accompanied by the loss of its fungibility. The States and Banks will continue to decry its use as a tool of criminals, while at the same time rounding up hoards of drug dealers, pedophiles, and tax-dodgers (who should know better), while the larger criminals continue making profits and eliminating their small-time competitors.

Sorry, I have wandered far from my initial purpose. I am tempted to delete much of this post, but maybe somebody will find my droning interesting.

Peace to you all,

Strix

[jiggytom]

what an unlucky day, 5 in a row odd on Directbet...there goes the 300DRK I was up.  Only needed another 200 for another masternode.  Don't gamble kids.

[tungfa]

Is the Darkcoin web wallet http://darkcoin-e.com/ a scam ?

One of our employees deposited 1 DRK to test it but was unable to withdraw.

It's stuck on "processing" for several days and no replies to e-mails.

It's high on Google search, right after the official wallet.

Yes it is a scam. I warned people on twitter the second it came out. ( a while ago ) Need a takedown notice against them. Go go DRK foundation.

Tx for the reminder
will do a Social Media SCAM ALERT as well !

[turk-fx]

what an unlucky day, 5 in a row odd on Directbet...there goes the 300DRK I was up.  Only needed another 200 for another masternode.  Don't gamble kids.

Just stick to soccer and pick your battles and you will win. I can give you a nice parlay this friday. I started with .2 btc a weeks ago and made 6btc so far.  But i go to cloudbet, they have couple of better options and slightly higher odds.

[oblox]

what an unlucky day, 5 in a row odd on Directbet...there goes the 300DRK I was up.  Only needed another 200 for another masternode.  Don't gamble kids.

lol, I hear you. I lost 585 on 8 in a row odds and then another 500 on the miss state over ol miss game parlayed with florida state over florida.

[turk-fx]

what an unlucky day, 5 in a row odd on Directbet...there goes the 300DRK I was up.  Only needed another 200 for another masternode.  Don't gamble kids.

My weekend picks

Hoffenheim - to score a goal
Shalke 04- win or over 2.5
Herta Berlin -B. Dortmund - Over 2.5
Stutgart - to score
Galatasaray - to score
Paris Saint German - to score
Wolfsburg - win and/or/maybe over 2.5
Ajax - win
Anderltch - win
Sporting cp - to score


But this will change depen on odds. I will remove very low odds and odds/risk ratio thats not wort. Will possibly keep 5-6 games.

[thelonecrouton]

Hope this helps spark debate and intrest if nothing else...!  

Walter

Nice write-up Walter! I would like to point out a couple of differences between masternodes and stocks/bonds/certs.of deposit etc. In each of the above cases the money invested is still flowing in the economy. It is simply the investor who looses access to it in exchange for a hoped for return. In the case of a stock or bond the holder has a promise while the issuer has the cash and proceeds to use it to buy goods and services. Those who provide the goods or services now have the cash and the flow proceeds. In the case of "savings accts" or certs. of deposits, the funds are loaned out and used to create even more funds on a fractional reserve basis, thus further "greasing the wheels of commerce" and paving the way  for societies collapse as the new funds are loaned into existence WITHOUT creating the interest which must be payed back. In any case, unless the funds are kept as cash in the equivalent of a mattress (and losing value to inflation), the funds continue to flow, while the initiator no longer has access to them, and must wait some time before seeing them return to his/her ability to spend them.

Masternodes on the other hand extract existing (or newly created) funds for services rendered in exchange for keeping funds out of circulation. There are a number of subtle trade-offs being made here, the most notable of which is present return in exchange for present restraint in spending. (A side benefit is the reduction of the likelihood of various forms of attack.)  Unlike stocks, bonds, or savings accounts, there is no commitment involved, and the funds may be immediately spent with NO penalty. Saving in this model is deflationary, as opposed to the inflationary saving of fractional debt based economies. Not only do masternodes work in an anti-inflationary manner they encourage savings as they lead to the accumulation of an appreciating asset in addition to simply holding an asset expected to appreciate. This works against the pump and dump cycles so prevalent to this point, and serves to cause the currency to appreciate in value as opposed to inflating. At the same time the fundamental utility of DRK as privacy protection and point-of-sale utility will work to drive it into circulation as adoption increases thus limiting the effects of hoarding.

This latter benefit will become more pronounced as the lack of privacy inherent in Bitcoin becomes well known. At this point in time, Bitcoin has only three raisons d'être; privacy, international transfers, and hoarding in hopes of appreciation. With the first removed, the second becomes doubtful, leaving only the third. Sadly, it quickly becomes a case of hoarding something nobody wants; values fall, and then fewer wish to hoard.

The promise of Bitcoin has become blunted as the mystique of privacy has been peeled away by advances in monitoring and blockchain analysis. It seems that its value proposition is now based on the hopes of deep-pocket Wall Street tycoons who would not invest such large amounts without expecting a return. That return of course, is based on the promise of States and their Banks (better said Banks and their States) providing safety through regulation. Hence in coming days I expect we will see some very nice and profitable boom and bust cycles with Bitcoin, accompanied by the loss of its fungibility. The States and Banks will continue to decry its use as a tool of criminals, while at the same time rounding up hoards of drug dealers, pedophiles, and tax-dodgers (who should know better), while the larger criminals continue making profits and eliminating their small-time competitors.

Sorry, I have wandered far from my initial purpose. I am tempted to delete much of this post, but maybe somebody will find my droning interesting.

Peace to you all,

Strix

Quoted excellent post in case Strix decides to delete any of it.  

And I can guarantee you that every single one of the '2.0 fancy financial instruments' type coins will fail horribly, just as what they are based on is failing horribly. The last thing a cryptocurrency needs is to try to emulate the insane voodoo that drives the traditional financial sector and is driving all but the 1% ever deeper into poverty.

[strix]

what an unlucky day, 5 in a row odd on Directbet...there goes the 300DRK I was up.  Only needed another 200 for another masternode.  Don't gamble kids.

lol, I hear you. I lost 585 on 8 in a row odds and then another 500 on the miss state over ol miss game parlayed with florida state over florida.

Wait a minute! Am I to understand that between the two of you, you threw away the equivalent of over 13 lifetime memberships in the Darkcoin Foundation???!!!  
While you are on a loosing streak you could get me a lifetime membership and I could proxy your votes for one year in exchange. You would loose significantly less, get some extra influence, and both the foundation and myself would come out ahead.

[strix]

Quoted excellent post in case Strix decides to delete any of it. 

And I can guarantee you that every single one of the '2.0 fancy finacial instruments' type coins will fail horribly, just as what they are based on is failing horribly. The last thing a cryptocurrency needs is to try to emulate the insane voodoo that drives the traditional financial sector and is driving all but the 1% ever deeper into poverty.

Thank you Sir, you are too kind. 

[oblox]

what an unlucky day, 5 in a row odd on Directbet...there goes the 300DRK I was up.  Only needed another 200 for another masternode.  Don't gamble kids.

lol, I hear you. I lost 585 on 8 in a row odds and then another 500 on the miss state over ol miss game parlayed with florida state over florida.

Wait a minute! Am I to understand that between the two of you, you threw away the equivalent of over 13 lifetime memberships in the Darkcoin Foundation???!!!  
While you are on a loosing streak you could get me a lifetime membership and I could proxy your votes for one year in exchange. You would loose significantly less, get some extra influence, and both the foundation and myself would come out ahead.

For me, this was before the foundation memberships came out... and besides, I get a thrill out of gambling, not giving handouts to people.

[wozzek23]

And I can guarantee you that every single one of the '2.0 fancy finacial instruments' type coins will fail horribly, just as what they are based on is failing horribly. The last thing a cryptocurrency needs is to try to emulate the insane voodoo that drives the traditional financial sector and is driving all but the 1% ever deeper into poverty.

Agree, Strix's post was a worthy one (but you just quoted it so no need for me to do the same...) - and what you wrote reminded me of yet another source of income The Financial Crime Cartel has created, driving the poorest of the poor into despair, while getting richer themselves -> overdraft fucking fees.

This is a $30 BILLION a year industry** in the United States alone, charging you "fees". I doubt other countries have such a criminal cartel blatantly stealing the money from the poor, but I am not familiar with these particular practices elsewhere. Fuck them, Darkcoin does not have any overdraft fees  


** source: http://time.com/money/3070815/overdraft-fees-banks-save-money/

[jiggytom]

what an unlucky day, 5 in a row odd on Directbet...there goes the 300DRK I was up.  Only needed another 200 for another masternode.  Don't gamble kids.

lol, I hear you. I lost 585 on 8 in a row odds and then another 500 on the miss state over ol miss game parlayed with florida state over florida.

Wait a minute! Am I to understand that between the two of you, you threw away the equivalent of over 13 lifetime memberships in the Darkcoin Foundation???!!!  
While you are on a loosing streak you could get me a lifetime membership and I could proxy your votes for one year in exchange. You would loose significantly less, get some extra influence, and both the foundation and myself would come out ahead.

For me, this was before the foundation memberships came out... and besides, I get a thrill out of gambling, not giving handouts to people.

Agreed.  Dat adrenaline rush.  Oh well, we live another day.  

The one day that 1drk =100usd I'll come to realize I put 10k on a odds / even bet 3 times. 

[tungfa]

[strix]

For me, this was before the foundation memberships came out... and besides, I get a thrill out of gambling, not giving handouts to people.

I can certainly understand thrill-seeking, as it is a common human condition. After reading your response I realize I came off sounding like both a Pharisee and a beggar. Each are distasteful in their own right, and the combination even more so... my humble apologies.

However as someone who has given away much of what I have earned in this life, and who continues to work in what others call charity, (and I call development), may I suggest that giving a hand to others (as opposed to handouts) has a thrill all its own. But to each his own. May you quickly recoup your losses.

[TanteStefana2]

you guy's really should play with numbers more


again - correction


2,100,000,000,000,000,000 = 2.1 quadrillion duffs = 21,000,000 DRK

If each duff ends up worth about a dollar, and the national debt is over 2 quadrillion (seems possible in the next year or two.  LOL), well then we may run out of coins after all, LOL

[oblox]

For me, this was before the foundation memberships came out... and besides, I get a thrill out of gambling, not giving handouts to people.

I can certainly understand thrill-seeking, as it is a common human condition. After reading your response I realize I came off sounding like both a Pharisee and a beggar. Each are distasteful in their own right, and the combination even more so... my humble apologies.

However as someone who has given away much of what I have earned in this life, and who continues to work in what others call charity, (and I call development), may I suggest that giving a hand to others (as opposed to handouts) has a thrill all its own. But to each his own. May you quickly recoup your losses.

No worries. I help others in other ways... but not by giving money (from personal experience).

[defunctec]

I found this the other day

https://github.com/iBa/iBankCryptoCurrency

I wonder if someone could fork this for darkcoin?

[strix]

No worries. I help others in other ways... but not by giving money (from personal experience).

Thank you--and understood.

[Ignition75]

Just saw a really interesting statistic, a lot of the masternodes are now with VULTR.  Before TAO wrote his guide Digital Ocean were the 2nd largest provider next to Amazon.

I'm wondering if TAO's guide has anything to do with it?

If it does have something to do with it, there's hard evidence that we need to be a lot more helpful to new business coming into crypto in general.

TAO, Tante2 and whomever else is taking the time to write helpful articles for the general public to become more familiar with Darkcoin, you are just as important as the developers, keep up the outstanding work...