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Author Topic: SCAM Darkcoin instamine 2 millions DRKs (50% of darkcoin in circulation)  (Read 82162 times)
TsuyokuNaritai
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June 27, 2014, 07:42:52 PM
 #661

Look, we get it. Instamine happened. There is NO denying it. However post instamine events have levelled the playing field. This is being mentioned again and again and again. But pricks like you just want to annoy yourself and want the whole world to share the annoyance with you. We get it, but we don't want to participate for a multitude of reasons that is not fathomable to you or your kind.

Evan has changed the landscape of altcoins post sCrypt ASICs:

*x11 for months has been the main PoW. Yes the whole point of these altcoins is pointlessness, but they realized that this algo at least kept some part of their hardware investments going.
*Anon wannabe coins springing out of nowhere. All of them not even realizing what the non-transparent blockchain should look like and what is it that the next challenge that cryptos want to fix. It at least brought Monero to limelight and people found out a VERY big broken piece in Bitcoin.
*Difficulty retargetting in the wake of multipools. DGW was unabashedly copied/pasted.
*Proof of Service where nodes need to be recognized and compensated. Yes this will be the next big wave of cloning.
*Fancy terms mimicking and flattering Darksend or MasterNodes like "NiteSend", "SuperSend", "CloakSend", "XNodes" and what not. NONE of these are improvements and the real scams and NEVER get called out for that. Everyone just wants to jump in for the pumps and resulting bitcoins.
* Yet to be announced anonymity enhancement sets for the simple fear of spawning more phonetic clones.

Evan put his name out there, interviewed with media outlets, wrote a whitepaper which is admittedly unfinished, set out his intentions for Darkcoin in clear and has been working tirelessly for months brining the non-transparent blockchain needs to limelight.

And yet no one calls for the real scammers like Stackcoin, Edgecoin, SharexCoins and tons of other scam coins. And Evan is the scammer?

Evan has spawned a multimillion crypto-economy that is growing by the day as more people are recognizing and accepting the need and the want for non-transparent blockchain. Indirectly he has produced even bigger economy due to Darkcoin coming to limelight.

And that is why Evan's worldwide fame is growing by the day. And you are an internet troll who when he dies, even the family will say "Good Fucking Riddance".

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IloveAnonCoin
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June 27, 2014, 07:49:42 PM
 #662

Actually, I do care, and a lot of people in here care. Lots of people who are Darkcoin supporter tries to denied/cover it.

Feel free to keep the crusade going but I think it's an accepted part of history now who's effects were mitigated by subsequent trading.

Accepted by the market, accepted by the miners.

You call it a "scam". I don't. I call it "the difficulty was too low for a period and a lot of people got a lot of coins". A scam is where you take people's money and give them something of no value in return. On the other hand, anybody who mined or bought Darkcoin back then and held has made huge returns, so I'm sorry, I don't buy your definition of "scam" in this case.

Broken record.


haha, so now you are going to discuss the definition of "SCAM", by not talking about instamine by devs ?
illodin
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June 27, 2014, 09:12:08 PM
 #663

No one cares about the instamine. No one denies it. Do you have anything else to say or are you a broken record player?

Actually, I do care, and a lot of people in here care. Lots of people who are Darkcoin supporter tries to denied/cover it.

No one's trying to cover anything, it's all told here, wide open:


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 !
IloveAnonCoin
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June 27, 2014, 10:13:27 PM
 #664

I have read it already, it is just someone tried to cover/making its as not a big issue. The fact is the devs is instamine still true.
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June 27, 2014, 11:33:37 PM
 #665

Don't you guys get it yet?

This guy (ILoveFartCoin) doesn't care about reality, honesty or decency.

He is simply trollllllling you.

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CryptoPleb
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June 28, 2014, 12:17:45 PM
 #666

I have read it already, it is just someone tried to cover/making its as not a big issue. The fact is the devs is instamine still true.


Ok now what? You're correct. Now what?
IloveAnonCoin
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June 28, 2014, 01:52:45 PM
 #667

I have read it already, it is just someone tried to cover/making its as not a big issue. The fact is the devs is instamine still true.


Ok now what? You're correct. Now what?

Nothing, it's just telling people the truth. after that, it depends on them weather they will insist to invest in SCAM Darkcoin or other coins.
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June 28, 2014, 11:14:28 PM
 #668

Terrible scam, increasing my money by over 100 times. Wish I had gone with a non-scam coin like Anoncoin, so that my money could have decreased instead.
IloveAnonCoin
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June 29, 2014, 09:07:17 AM
 #669

Terrible scam, increasing my money by over 100 times. Wish I had gone with a non-scam coin like Anoncoin, so that my money could have decreased instead.

please don't change the topic "SCAM Darkcoin instamine 2 millions DRKs (50% of darkcoin in circulation)"  Roll Eyes
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June 29, 2014, 12:05:38 PM
 #670

No amount of whining will stop the scam. Beat them in the market, expose flaws in their technology(working on it as a personal project ), or post non stop in their thread. You'll find most of them are morons and will give up after you thoroughly ha d them their asses.

My negative trust rating is reflective of a personal vendetta by someone on default trust.
Lauda
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June 29, 2014, 01:26:12 PM
 #671

No amount of whining will stop the scam. Beat them in the market, expose flaws in their technology(working on it as a personal project ), or post non stop in their thread. You'll find most of them are morons and will give up after you thoroughly ha d them their asses.
Yeah use your time to try to expose flaws (not going to succeed anyways), instead of actually developing some useful technology.
Smart move.

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IloveAnonCoin
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July 15, 2014, 03:01:26 AM
 #672

No amount of whining will stop the scam. Beat them in the market, expose flaws in their technology(working on it as a personal project ), or post non stop in their thread. You'll find most of them are morons and will give up after you thoroughly ha d them their asses.

After several forked, they still believe in DarkForkCoin.  Grin I don't think it will work.
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July 17, 2014, 04:09:14 AM
 #673

DRK bagholders do not care about the money. They want to give it away  Wink
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July 21, 2014, 12:34:29 AM
 #674

No amount of whining will stop the scam. Beat them in the market, expose flaws in their technology(working on it as a personal project ), or post non stop in their thread. You'll find most of them are morons and will give up after you thoroughly ha d them their asses.

After several forked, they still believe in DarkForkCoin.  Grin I don't think it will work.

Theres a coin called darkforkcoin?
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July 30, 2014, 08:23:14 AM
 #675

Terrible scam, increasing my money by over 100 times. Wish I had gone with a non-scam coin like Anoncoin, so that my money could have decreased instead.

 Wink

If you sold on 14$, somebody buys .. But he will not come on forum and cry for that.
He still have a chance to be part of anon history with Anoncoin ANC.


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August 01, 2014, 05:06:48 AM
 #676

fork

Hi Stealthcoin, what is fork?
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August 01, 2014, 08:41:18 AM
 #677

I just thought you might know but guess not then.
Figures.
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August 01, 2014, 08:48:42 AM
 #678

Darkcoin is pretty much gone, it had its moment now its been pretty boring and will slowly fade off.

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August 01, 2014, 08:54:07 AM
 #679

Darkcoin is pretty much gone, it had its moment now its been pretty boring and will slowly fade off.

I see you're talking from a purely speculatory perspective - the perspective of 99% of the crypto noobs who are only chasing the next hype coin having the best buzz words and promises of future features from the devs.

Thing is, Darkcoin's code is soon being open sourced, which enables privacy appreciative merchants to accept it as a form of payment. When that happens, Darkcoin will be the first and only privacy coin that allows full adoption. Other coins still have a lot of work to do to reach that point. Darkcoin has the tech, easy usage, easy adoptability for merchants, and, a big and trusted USD exchange for merchants to convert to fiat, and buyers to buy with fiat - Bitfinex. Darkcoin is just so much ahead of the competition that it might very well just scoop up the whole market.

Darkcoin is moving from the the speculation phase to the adoption phase.
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August 02, 2014, 11:36:44 AM
 #680

Scamine made me scared to invest  Roll Eyes
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