Bitcoin Forum
July 19, 2019, 07:32:28 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 [31] 32 33 34 35 36 37 38 39 40 41 42 43 44 45 »
  Print  
Author Topic: SCAM Darkcoin instamine 2 millions DRKs (50% of darkcoin in circulation)  (Read 81885 times)
Lauda
GrumpyKitty
Legendary
*
Offline Offline

Activity: 2282
Merit: 2087


Modern Liberalism is a Mental Disorder


View Profile
June 20, 2014, 07:54:37 AM
 #601

lol so while many people here are making countless tens of thousands off darkcoin, you retards are just posting about why its a "scam". Hippie Tech and Iloveanaoncoin have to be the most pathetic people ive ever come across. Look at all that wasted money they let go all in the sake of trying to let people know of the "scam" and its had no effect on the price, fucking idiots lmao!

Have fun with your cryptofiat ponzi shitcoin, douche. Smiley

Some of us prefer being able to look our family and friends in the eye when we tell them what we do for a living.
Emotional one aren't you?
Yeah tell them how you're missing out on opportunities, no wonder why you earn so little.  Wink

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1563564748
Hero Member
*
Offline Offline

Posts: 1563564748

View Profile Personal Message (Offline)

Ignore
1563564748
Reply with quote  #2

1563564748
Report to moderator
1563564748
Hero Member
*
Offline Offline

Posts: 1563564748

View Profile Personal Message (Offline)

Ignore
1563564748
Reply with quote  #2

1563564748
Report to moderator
1563564748
Hero Member
*
Offline Offline

Posts: 1563564748

View Profile Personal Message (Offline)

Ignore
1563564748
Reply with quote  #2

1563564748
Report to moderator
Hippie Tech
aka Amenstop
Legendary
*
Offline Offline

Activity: 1624
Merit: 1001


All cryptos are FIAT digital currency. Do not use.


View Profile WWW
June 20, 2014, 11:53:52 AM
 #602

http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins#darkcoin

Quote
Darkcoin

- derived from Quark
- type of algorithm: blake, bmw, groestl, keccak, jh, stein
- PoW and PoS

The following data and time stamps were collected from the Darkcoin blockchain 33).

Block 1: 2014-01-19 Time: 3:54:41
Block 1000 : 2014-01-19 Time: 4:33:39
Block 2000: 2014-01-19 Time: 06:25:47
Block 3000: 2014-01-19 Time: 09:10:16
Block 3250: 2014-01-19 Time: 11:22:11

Looking at this data, we see that Darkcoin was mined with 500 DRK generated per block from the get go. From block 1 to at least block 3250, according to their blockchain, they were still producing 500 coins each block. The transition from 500 to 277 coins per block occurs between 3250 and 3500 but this author did not see the necessity of getting the exact moment of halving. Simple math shows that 3250 blocks multiplied by 500 coins a block is 1,625,000 Darkcoins created between the times of 3:54 and 11:22 on January 19th, 2014. As of today there are around 4,300,000 DRK in existence, making this a pretty hefty instamine. The Darkcoin website expects around 22,000,000 DRK to be created. That means in less than 8 hours, almost 5% of the Darkcoins that ever will be created spawned in that 1/3 of a day. It's safe to say Darkcoin has left it's investors in the dark on this one.

Denada129
Newbie
*
Offline Offline

Activity: 15
Merit: 0


View Profile
June 20, 2014, 07:30:06 PM
 #603

FORKED AGAIN !

This improvised team of developer is unable to release a stable version after months, it's time to sell to investors if they do not want to lose money!
nzminer
Legendary
*
Offline Offline

Activity: 1848
Merit: 1000



View Profile
June 21, 2014, 03:14:36 AM
 #604

FORKED AGAIN !

This improvised team of developer is unable to release a stable version after months, it's time to sell to investors if they do not want to lose money!


DRK will fail for one reason and thats pride....
Evan is trying to get all the credit for himself, in the meantime we see other anon coins that already work..
If he made it open source, it would succeed overnight.

NEM, THE SECURE, SCALABLE BLOCKCHAIN [NEM.IO] [T.ME/NEMRED]
Lauda
GrumpyKitty
Legendary
*
Offline Offline

Activity: 2282
Merit: 2087


Modern Liberalism is a Mental Disorder


View Profile
June 21, 2014, 07:49:10 AM
 #605

FORKED AGAIN !

This improvised team of developer is unable to release a stable version after months, it's time to sell to investors if they do not want to lose money!

Please stop talking nonsense. Nothing special about this. Other random coins fork on minor updates, this wasn't a minor one for DRK.

IloveAnonCoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
June 26, 2014, 03:10:12 AM
 #606

I think it proves the opposite that only those in on the instamine are claiming it is not a scam Smiley

Please do yourself and drk a favour, keep quiet the storm is blowing over. You constant excuses and justifications for the method of release are doing more harm.

If you really believe coins are best released with no windows qt and no pools. Put a thread up about it and settle it once and for all. See what the rest of the community says about it.

I challenge you to do it now?  

ALL COINS SHOULD BE RELEASED WITH NO WINDOWS QT AND NO POOLS. VOTE NOW. POW IS FOR LINUX ONLY FROM NOW ON.

make that your title.


Wrong. You seem to be applying the term scam to everything. Even if it was instamined, which it was not, it still is not a scam. Go look up words definitions.
Yes, average users with minimum knowledge still use windows only. Pools shouldn't be used in any coin IMO.
Complain some more and keep missing out on the money.

Cheers.

It was not instamined guys you heard it from laudaM  .... move along no instamine here. No scam.


Well a captive instamine on huge rewards for linux and devs may not be a true scam to you, when combining that with cutting the minting by 75% later... some people would define that a near a scam as you can get. I don't complain further since i discovered a little stash someone had mined for me. However, keeping quiet is the best policy. Why drag this thread to the top just to defend actions that can not be defended.

You are doing drk no favours here. Get the price back up please i refuse to cash out until it is back at peak.



Yes, it is a fact that you should accept rather than trying to cover it.
IloveAnonCoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
June 26, 2014, 11:13:46 AM
 #607

FORKED AGAIN !

This improvised team of developer is unable to release a stable version after months, it's time to sell to investors if they do not want to lose money!

Please stop talking nonsense. Nothing special about this. Other random coins fork on minor updates, this wasn't a minor one for DRK.

It's just FORK as normal already Smiley
IloveAnonCoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
June 26, 2014, 02:36:56 PM
 #608

Every time a troll tries to badmouth Darkcoin, just post this.



 Grin, what do you mean ? you mean "hard fork" ?
IloveAnonCoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
June 26, 2014, 05:57:24 PM
 #609

https://bitcointalk.org/index.php?topic=666986.0

"Soft Fork"  Grin Hope, it will not be hard fork again.
IloveAnonCoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
June 26, 2014, 08:06:56 PM
 #610

I'm positive that only people who missed out on DRK and/or who are mad for not profiting, say it is a scam.  Smiley

Soo... how many 500 DRK blocks did you and/or your friends instamine ?

http://explorer.darkcoin.io/block/000007d91d1254d60e2dd1ae580383070a4ddffa4c64c2eeb4a2f9ecc0414343

You may as well be mining fiat.
So this proves my point. You missed out, and you're mad because of it.
How many blocks did Satoshi mine? Go to his house and complain.  Wink

So, devs instamined is the right thing to do ? that's what you say ?
gostrol
Newbie
*
Offline Offline

Activity: 58
Merit: 0


View Profile
June 26, 2014, 09:51:47 PM
 #611

Let's take a look at the first 5 h of Darkcoin (XCoin at that time)...

https://bitcointalk.org/index.php?topic=421615.msg4589219#msg4589219
Edufield said (after failed launch) that he will wait the next day to launch DRK (XCoin at that time) it is 11 pm.

https://bitcointalk.org/index.php?topic=421615.msg4591407#msg4591407
Edufield disregard windows wallet and daemon and hurry up his launch, presumably to not have windows miners on board.

https://bitcointalk.org/index.php?topic=421615.msg4592827#msg4592827
Edufield say he added four nodes for the launch at 4 am (5 hours later, despite his promise to wait). The 4 nodes from Edufield are 3 amazons AWS + another unknown (whois IP). Launch started at 3h54 am.

https://bitcointalk.org/index.php?topic=421615.msg4593601#msg4593601
Edufield said the github version was not updated, nobody could compile and only Edufield was able to mine until that time. It is 5.09 am and Edufield instamined alone 1153 block at 500 DRK + 60 block at reward 277 = 593120 DRK for him alone in about 1 hour.

https://bitcointalk.org/index.php?topic=421615.msg4593987#msg4593987
No windows wallet confirmed at 5h47 am, despite a user attempt to make one avaiable, that Edufield dismissed quickly.

https://bitcointalk.org/index.php?topic=421615.msg4594096#msg4594096
Illodin, understand dev has instamined alot of coin.

https://bitcointalk.org/index.php?topic=421615.msg4595573#msg4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.

From 6M$ - 13M$ in 5 h, Edufield did some lucrative work here!

Edufield is nominee for the Master Scammer 2014 award!
CryptoTrout
Hero Member
*****
Offline Offline

Activity: 710
Merit: 500


https://twitter.com/CryptoTrout


View Profile WWW
June 26, 2014, 10:04:30 PM
 #612

Yes please continue with the FUD.  I am enjoying the cheap coins.
Hippie Tech
aka Amenstop
Legendary
*
Offline Offline

Activity: 1624
Merit: 1001


All cryptos are FIAT digital currency. Do not use.


View Profile WWW
June 26, 2014, 10:19:07 PM
 #613

Pyramid or ponzi.. hmm.. can't seem to make up my mind. lol

http://en.wikipedia.org/wiki/Pyramid_scheme#Connection_to_multi-level_marketing

Quote
It states that research is your best tool and gives eight steps to follow:

1.Find—and study—the company’s track record.
2.Learn about the product.
3.Ask questions.
4.Understand any restrictions.
5.Talk to other distributors. Beware of shills.
6.Consider using a friend or adviser as a neutral sounding board, or for a gut check.
7.Take your time.
8.Think about whether this plan suits your talents and goals.

Next up on that page is one for the exchanges and their shitcoin sweatshops. They've made fortunes with their shares, fees, "vote" selling, market manipulations, fractional reserve banking and the free coins generated by the clientelle's PoS deposits.

Funny how no one ever talks about that last one..

http://en.wikipedia.org/wiki/Pyramid_scheme#Connection_to_franchise_fraud

edit

@gostrol

I /we have pointed that out several times and they don't care.

These coins have become so cult like, its beginning to creep me out. Shocked

IloveAnonCoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
June 26, 2014, 10:21:15 PM
 #614

Let's take a look at the first 5 h of Darkcoin (XCoin at that time)...

https://bitcointalk.org/index.php?topic=421615.msg4589219#msg4589219
Edufield said (after failed launch) that he will wait the next day to launch DRK (XCoin at that time) it is 11 pm.

https://bitcointalk.org/index.php?topic=421615.msg4591407#msg4591407
Edufield disregard windows wallet and daemon and hurry up his launch, presumably to not have windows miners on board.

https://bitcointalk.org/index.php?topic=421615.msg4592827#msg4592827
Edufield say he added four nodes for the launch at 4 am (5 hours later, despite his promise to wait). The 4 nodes from Edufield are 3 amazons AWS + another unknown (whois IP). Launch started at 3h54 am.

https://bitcointalk.org/index.php?topic=421615.msg4593601#msg4593601
Edufield said the github version was not updated, nobody could compile and only Edufield was able to mine until that time. It is 5.09 am and Edufield instamined alone 1153 block at 500 DRK + 60 block at reward 277 = 593120 DRK for him alone in about 1 hour.

https://bitcointalk.org/index.php?topic=421615.msg4593987#msg4593987
No windows wallet confirmed at 5h47 am, despite a user attempt to make one avaiable, that Edufield dismissed quickly.

https://bitcointalk.org/index.php?topic=421615.msg4594096#msg4594096
Illodin, understand dev has instamined alot of coin.

https://bitcointalk.org/index.php?topic=421615.msg4595573#msg4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.

From 6M$ - 13M$ in 5 h, Edufield did some lucrative work here!

Edufield is nominee for the Master Scammer 2014 award!

Thanks for your input.
manfred
Legendary
*
Offline Offline

Activity: 966
Merit: 1001


Energy is Wealth


View Profile
June 26, 2014, 10:24:40 PM
Last edit: July 21, 2014, 08:19:31 PM by manfred
 #615

Let's take a look at the first 5 h of Darkcoin (XCoin at that time)...

https://bitcointalk.org/index.php?topic=421615.msg4589219#msg4589219
Edufield said (after failed launch) that he will wait the next day to launch DRK (XCoin at that time) it is 11 pm.

https://bitcointalk.org/index.php?topic=421615.msg4591407#msg4591407
Edufield disregard windows wallet and daemon and hurry up his launch, presumably to not have windows miners on board.

https://bitcointalk.org/index.php?topic=421615.msg4592827#msg4592827
Edufield say he added four nodes for the launch at 4 am (5 hours later, despite his promise to wait). The 4 nodes from Edufield are 3 amazons AWS + another unknown (whois IP). Launch started at 3h54 am.

https://bitcointalk.org/index.php?topic=421615.msg4593601#msg4593601
Edufield said the github version was not updated, nobody could compile and only Edufield was able to mine until that time. It is 5.09 am and Edufield instamined alone 1153 block at 500 DRK + 60 block at reward 277 = 593120 DRK for him alone in about 1 hour.

https://bitcointalk.org/index.php?topic=421615.msg4593987#msg4593987
No windows wallet confirmed at 5h47 am, despite a user attempt to make one avaiable, that Edufield dismissed quickly.

https://bitcointalk.org/index.php?topic=421615.msg4594096#msg4594096
Illodin, understand dev has instamined alot of coin.

https://bitcointalk.org/index.php?topic=421615.msg4595573#msg4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.

From 6M$ - 13M$ in 5 h, Edufield did some lucrative work here!

Edufield is nominee for the Master Scammer 2014 award!

just wow, but wait there is more. You forgot the master scammer finally got the master nodes working and getting paid handsomely 20% all taken form miners who now only get 80% of the 5 block reward vs 100% when it was 500
Coins earned from the nodes can be sold literately for any price because the cost them little, current day miner can not sell at any price.



Kergekoin
Hero Member
*****
Offline Offline

Activity: 546
Merit: 500


View Profile
June 26, 2014, 10:33:01 PM
 #616

I quess, he would say that its justified to take money away from stupid people.
Finally some of them are beginning to realize that they were scammed with simple and obvious plan.

******  NB! The links below are affiliate - friend type links, which bring additional benefits both, to you and me  ******
Binance - Best Crypto Trading Platform          CoinBase - Fastest way from FIAT to Crypto
Windscribe - The quickest and easyest way to secure and anonymize your internet traffic
IloveAnonCoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
June 27, 2014, 02:52:36 AM
 #617

THE FACTS ABOUT DARK COIN

1. released without windows QT so that only dev and pals could mine it.

2. Instamined harder than any other coin out there  12.5% of the current minting was mined in the first day

3. Later they decided to cut the minting by 75% to turn their 12.5% instamine with no windows QT into 50% instamine in 24hours - nice hey


yes that is correct they mined 50% of all the coins available at this time by themselves in the first 24 hours whilst windows users could not mine.


That is the facts.... doesn't matter what else they say... nothing can change what they have done.

Once zero coin, or bytecoin with a decent wallet it released or another darkcoin clone is released.... dark coin will sink like a stone.



Every time they try to spam their coin just post this to remind them of the facts about their coin.

This whole pre-mine instamine is starting to get old now.  I don't care if 100% of the coin is owned by 1 developer.  If the product is great, is innovative and has useful features its worth what i'm willing to pay for it.  Its like saying I should share my wealth of my own business with random people, because its the right thing to do.  IF, which it was NOT 50% instamined, as I was one of the first initial core to discover DarkCoin, I knew right off the bat that this coin was going somewhere...I spent 10's of thousands of dollars on mining servers from microsoft and amazon to mine DRK coin...I took a huge gamble and it paid off...then there should be reward for that.  At the writing of your message there was barely 4 million coins minted, of a possible 20+ million.   Thats NOT 50% instamined...what about the other 16+million coins yet to be mined?

Sometime, it's hard to tell people the truth.
Coolstoryteller
Sr. Member
****
Offline Offline

Activity: 350
Merit: 250


View Profile
June 27, 2014, 03:30:25 AM
 #618

THE FACTS ABOUT DARK COIN

1. released without windows QT so that only dev and pals could mine it.

2. Instamined harder than any other coin out there  12.5% of the current minting was mined in the first day

3. Later they decided to cut the minting by 75% to turn their 12.5% instamine with no windows QT into 50% instamine in 24hours - nice hey


yes that is correct they mined 50% of all the coins available at this time by themselves in the first 24 hours whilst windows users could not mine.


That is the facts.... doesn't matter what else they say... nothing can change what they have done.

Once zero coin, or bytecoin with a decent wallet it released or another darkcoin clone is released.... dark coin will sink like a stone.



Every time they try to spam their coin just post this to remind them of the facts about their coin.

This whole pre-mine instamine is starting to get old now.  I don't care if 100% of the coin is owned by 1 developer.  If the product is great, is innovative and has useful features its worth what i'm willing to pay for it.  Its like saying I should share my wealth of my own business with random people, because its the right thing to do.  IF, which it was NOT 50% instamined, as I was one of the first initial core to discover DarkCoin, I knew right off the bat that this coin was going somewhere...I spent 10's of thousands of dollars on mining servers from microsoft and amazon to mine DRK coin...I took a huge gamble and it paid off...then there should be reward for that.  At the writing of your message there was barely 4 million coins minted, of a possible 20+ million.   Thats NOT 50% instamined...what about the other 16+million coins yet to be mined?

Sometime, it's hard to tell people the truth.

I started mining DRK the moment after it was released. I rented a shitload of VPSs and amazon instances as well. I was at the top of all the mining charts on the pools I was using. I've since got out of the DRK scene but yeah when the coin launched I was getting a bunch per day. I offloaded my DRK into the market in small increments around the end of April. I don't know Evan personally I just saw his post and was looking for something new to mine after the Stablecoin developer went MIA. Anyways I have been invested into anon focused coins since the release of anoncoin. I don't really think that its a conspiracy tbh its just how this market works. Something looks appealing and then you mine the shit out of it. I did the same thing with Anoncoin.

There is truth for ya.


If you want a conspiracy try to connect the disappearance of Artos (Lead Stablecoin Dev) with the appearance of Evan Dufffield (Lead Darkcoin Dev). The two coins share the same design principals (Closed Source Mixer) and were abandoned/launched around the same timeframe. If you can get proof of that then you will have something on your hands Smiley

BTW - Satoshi owns 1.5 million Bitcoins.

"Buy, sell, trade, chat. Leave nothing but a Shadow." - www.shadow.cash
IloveAnonCoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
June 27, 2014, 03:37:04 AM
 #619

THE FACTS ABOUT DARK COIN

1. released without windows QT so that only dev and pals could mine it.

2. Instamined harder than any other coin out there  12.5% of the current minting was mined in the first day

3. Later they decided to cut the minting by 75% to turn their 12.5% instamine with no windows QT into 50% instamine in 24hours - nice hey


yes that is correct they mined 50% of all the coins available at this time by themselves in the first 24 hours whilst windows users could not mine.


That is the facts.... doesn't matter what else they say... nothing can change what they have done.

Once zero coin, or bytecoin with a decent wallet it released or another darkcoin clone is released.... dark coin will sink like a stone.



Every time they try to spam their coin just post this to remind them of the facts about their coin.

This whole pre-mine instamine is starting to get old now.  I don't care if 100% of the coin is owned by 1 developer.  If the product is great, is innovative and has useful features its worth what i'm willing to pay for it.  Its like saying I should share my wealth of my own business with random people, because its the right thing to do.  IF, which it was NOT 50% instamined, as I was one of the first initial core to discover DarkCoin, I knew right off the bat that this coin was going somewhere...I spent 10's of thousands of dollars on mining servers from microsoft and amazon to mine DRK coin...I took a huge gamble and it paid off...then there should be reward for that.  At the writing of your message there was barely 4 million coins minted, of a possible 20+ million.   Thats NOT 50% instamined...what about the other 16+million coins yet to be mined?

Sometime, it's hard to tell people the truth.

I started mining DRK the moment after it was released. I rented a shitload of VPSs and amazon instances as well. I was at the top of all the mining charts on the pools I was using. I've since got out of the DRK scene but yeah when the coin launched I was getting a bunch per day. I offloaded my DRK into the market in small increments around the end of April. I don't know Evan personally I just saw his post and was looking for something new to mine after the Stablecoin developer went MIA. Anyways I have been invested into anon focused coins since the release of anoncoin. I don't really think that its a conspiracy tbh its just how this market works. Something looks appealing and then you mine the shit out of it. I did the same thing with Anoncoin.

There is truth for ya.


If you want a conspiracy try to connect the disappearance of Artos (Lead Stablecoin Dev) with the appearance of Evan Dufffield (Lead Darkcoin Dev). The two coins share the same design principals (Closed Source Mixer) and were abandoned/launched around the same timeframe. If you can get proof of that then you will have something on your hands Smiley

BTW - Satoshi owns 1.5 million Bitcoins.


So, what you said is instamine 2 million coins by devs is the right thing to do because Satoshi also did ?
TsuyokuNaritai
Hero Member
*****
Offline Offline

Activity: 574
Merit: 500



View Profile
June 27, 2014, 03:52:50 AM
 #620

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 !


Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 [31] 32 33 34 35 36 37 38 39 40 41 42 43 44 45 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!