DRK COIN QUESTION

[Vann]

my wallet is catching up 8 weeks behind but stuck at 36904 for an hour, even rebooted, is it just slow?

Make sure you have the latest wallet from the website posted in the announcement thread, v0.9.3.3-unk-beta.

but how do I transfer from old wallet to new?

Backup your wallet.dat following the guide below just in case and replace the darkcoin-qt.exe with the new one.

https://bitcointalk.org/index.php?topic=609477.0

could I get a new wallet on a diff computer and transfer from old to new or would it have to be synched before I can send drk?

If you want to transfer the coins to a different computer on your network that has never had the DarkCoin client on it just place the wallet.dat file from the old wallet with the coins in the DarkCoin APPDATA folder on the new computer and start the wallet download to download the blockchain. You should always wait until the wallet is fully synced before sending any coins.

To copy the wallet.dat from the old computer to the new one

-Backup the wallet.dat from the old computer with the coins

-Press the WIN+R keys on the computer you are transferring the coins to

-Type the %APPDATA% in the dialog box and hit OK

-In the path that opens, create a new directory named DarkCoin

-Place the wallet.dat file with the coins in that directory

-Start the wallet and let it sync

-Your coins will either show as unconfirmed or not at all until the wallet has synced and downloaded the blockchain

thanks but my wallet is stuck on synching,, its been a few hours... it was 9 weeks behind..

What is the version of the DarkCoin client you are using?

Help Tab ==> About Darkcoin from the tab menu

If it's not v0.9.3.3-unk-beta you need to download the new wallet as I mentioned.

[Vann]

i'd sell it all because its further away up and buy back when down

It mostly depends on your appetite for risk. However the problem with playing arbitrage is that it works, until it doesn't and then if the coin takes off, you are left on the sidelines with only a fraction of the gains you could have realized. DarkCoin is one of the rare coins that offers true innovation and development and is based around a concept getting scarcer by the minute, privacy. You never know what can happen. Just like I'm sure the the early adopter that traded 10,000 BTC for two pizzas never could have possibly imagined what they would be worth today. The way I look at it, if you make an investment that you believe in, why sell yourself short? I would hate to be like the pizza guy and BTC literally has thousands of early adopters just like him!

http://www.wired.com/2011/11/mf_bitcoin/all/1

[BitcoinSteve]

i'd sell it all because its further away up and buy back when down

It mostly depends on your appetite for risk. However the problem with playing arbitrage is that it works, until it doesn't and then if the coin takes off, you are left on the sidelines with only a fraction of the gains you could have realized. DarkCoin is one of the rare coins that offers true innovation development and is based around a concept getting scarcer by the minute, privacy. You never know what can happen. Just like I'm sure the the early adopter that traded 10,000 BTC for two pizzas never could have possibly imagined what they would be worth today. The way I look at it, if you make an investment that you believe in, why sell yourself short? I would hate to be like the pizza guy and BTC literally has thousands of early adopters just like him!

http://www.wired.com/2011/11/mf_bitcoin/all/1

so just keep hodling but how long? 

[poornamelessme]

so just keep hodling but how long? 

Do you really need the money right now? If not, I'd wait.

You can of course try selling at high, buying back in at a low. But that only works if you guess correctly. Up to you if you want to take that risk. If unsure, sell some, keep the rest. That way you'll make some profit, and mitigate some risk in case the price goes down.

Long term I expect Drk to go definitely higher than it is now. But up to you if you want to hold that long. Personally I'm keeping enough for one masternode (assuming I can figure out how to set it up) and will play with my remainder, which is a little more than you have. Yet I am hesitant to sell any, just because I have a knack for guessing horribly wrong on highs and lows.

[BitcoinSteve]

so just keep hodling but how long? 

Do you really need the money right now? If not, I'd wait.

You can of course try selling at high, buying back in at a low. But that only works if you guess correctly. Up to you if you want to take that risk. If unsure, sell some, keep the rest. That way you'll make some profit, and mitigate some risk in case the price goes down.

Long term I expect Drk to go definitely higher than it is now. But up to you if you want to hold that long. Personally I'm keeping enough for one masternode (assuming I can figure out how to set it up) and will play with my remainder, which is a little more than you have. Yet I am hesitant to sell any, just because I have a knack for guessing horribly wrong on highs and lows.

yeah not hurting for $ so I think I will hold, would love to buy more but cannot justify paying $12 a coin now that I bought in before at so low..  so hard to guess or now, guess I will hodl til things start going down then sell some..

[poornamelessme]

yeah not hurting for $ so I think I will hold, would love to buy more but cannot justify paying $12 a coin now that I bought in before at so low..  so hard to guess or now, guess I will hodl til things start going down then sell some..

Sell some, hold some... it's a safe bet. I won't tell you when to sell, as beats me when is ideal too. Nobody knows where the highs are. If you guess right, you can buy back in and end up with even more Drk. The date to watch is the 25th, as that is the day I believe masternode testing is finished. Quite often prices rise based on expectations, then level off or fall when that expectation is met.

But Drk is sort of weird, so who knows.

[Vann]

yeah not hurting for $ so I think I will hold, would love to buy more but cannot justify paying $12 a coin now that I bought in before at so low..  so hard to guess or now, guess I will hodl til things start going down then sell some..

Sell some, hold some... it's a safe bet. I won't tell you when to sell, as beats me when is ideal too. Nobody knows where the highs are. If you guess right, you can buy back in and end up with even more Drk. The date to watch is the 25th, as that is the day I believe masternode testing is finished. Quite often prices rise based on expectations, then level off or fall when that expectation is met.

But Drk is sort of weird, so who knows.

Yes, right now it's all buyers and few sellers putting pressure on the price. I'm sure much of the current hoarding revolves around the 10% payout for Masternodes. Once that accumulation levels off it will bring the sellers back in and you should see some consolidation. If a shitcoin alt clone like AuroraCoin with zero innovation, a 50% premine and roughly the same coin total as DarkCoin could reach $90 earlier this year, it's certainly possible for DarkCoin to reach it and have a much better chance of staying there IMO.

[uartasic]

I am laughing so hard about DRK.

I mined it by accident, got BC and DRK mixed up. was using 2 computers for mining project.

I "found" 20 in my wallet and gave 4 away to a forum member for some help, which I don't regret doing as they helped me and I hope they are prospering right now.

I call this dumb luck for me. in hindsight I should have kept mining but I am not a greedy person and am not kicking myself for not doing so.

I spent $1.60 on electricity for it so I made my money back....and then some.

LOL...

UA.

[poornamelessme]

Yes, right now it's all buyers and few sellers putting pressure on the price. I'm sure much of the current hoarding revolves around the 10% payout for Masternodes. Once that accumulation levels off it will bring the sellers back in and you should see some consolidation. If a shitcoin alt clone like AuroraCoin with zero innovation, a 50% premine and roughly the same coin total as DarkCoin could reach $90 earlier this year, it's certainly possible for DarkCoin to reach it and have a much better chance of staying there IMO.

It's difficult to say where Drk eventually will end up. It could get some anonymous coin/wallet competition, level off around $10-$40ish, or go completely crazy. It's the sort of coin that could get to $300+ one day without a person sounding completely insane for saying so.

So it's a risky coin to sell, unless you really need the money right now. I expect plenty of btc people sold off when the coin hit $10-15 or so, and felt it'd never go any higher.

I just know that unless the price goes really crazy, I'll never feel comfortable selling. I'd like to sell high and buy back in low, but beats me as to when we hit those marks. I should probably spend this weekend looking at how to set up a masternode.... my coins are wasted just sitting there otherwise. Less temptation to sell them too if they are working for me.

[Peter R]

Yes, right now it's all buyers and few sellers putting pressure on the price. I'm sure much of the current hoarding revolves around the 10% payout for Masternodes. Once that accumulation levels off it will bring the sellers back in and you should see some consolidation. If a shitcoin alt clone like AuroraCoin with zero innovation, a 50% premine and roughly the same coin total as DarkCoin could reach $90 earlier this year, it's certainly possible for DarkCoin to reach it and have a much better chance of staying there IMO.

It's difficult to say where Drk eventually will end up. It could get some anonymous coin/wallet competition, level off around $10-$40ish, or go completely crazy. It's the sort of coin that could get to $300+ one day without a person sounding completely insane for saying so.

So it's a risky coin to sell, unless you really need the money right now. I expect plenty of btc people sold off when the coin hit $10-15 or so, and felt it'd never go any higher.

I just know that unless the price goes really crazy, I'll never feel comfortable selling. I'd like to sell high and buy back in low, but beats me as to when we hit those marks. I should probably spend this weekend looking at how to set up a masternode.... my coins are wasted just sitting there otherwise. Less temptation to sell them too if they are working for me.

My god people.  Darkcoin is closed-source:







This means you don't really know anything.  The mining could be completely gamed by insiders.  How would you actually know?  The wallet could install key-loggers or bitcoin-wallet stealers.  How would you actually know?  

Have you read the white paper?  What is your impression of the expertise of the authors?  Has this paper been peer reviewed by experts in the field?  What did they say?  Do you find this odd:

Apparently we needed a white paper to be a legit crypto-currency, so here it is:

http://www.darkcoin.io/downloads/DarkcoinWhitepaper.pdf

Let me know if you see anything that could be improved, clearer, typos, etc.

Have you checked out the Darkcoin website?  What is your impression of all the "coming soon" details?

Does anyone actually know exactly what the X11 mining algorithm is?  All I've found are vague statments like this one from the white paper:

   "Darkcoin uses a new chained hashing algorithm approach, with many new scientific hashing algorithms for the proof­of­work. X11 consists of blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, and echo."

This is the description of inflation schedule from white paper:

   "DarkCoin replaces abrupt reward halving with a reward curve, 2222222/(((Difficulty+2600)/9)^2). The maximum and minimum amounts are set to 25 and five respectively."

Do you think this will be dynamically stable?  Do you understand what this means?  How many coins do you think will get produced?  Does this formula jive with the statment from here that the coin supply is "Est. ~22M Max Coins"?

How do you think the filtering of difficuly will affect the coin dynamics? Do you even understand what the following quote from the white paper means?

   "DarkGravityWave uses multiple exponential moving averages and a simple moving average to smoothly adjust the difficulty."


All of these questions and many many more coupled with the fact that everything is closed source lends a very bad smell to this coin. Coinmarket cap reports $5.7 million in exchange volume over the last 24 hours, something tells me a lot of this is the right hand selling to the left hand.  

 

[poornamelessme]

My god people.  Darkcoin is closed-source:

Does anyone actually know exactly what the X11 mining algorithm is?  All I've found are vague statments like this one from the white paper:

   "Darkcoin uses a new chained hashing algorithm approach, with many new scientific hashing algorithms for the proof­of­work. X11 consists of blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, and echo."


   "DarkGravityWave uses multiple exponential moving averages and a simple moving average to smoothly adjust the difficulty."

It's not completely closed source, but darksend is currently closed source... until Sunday, I believe (or whenever testing is done).

I guess you haven't kept track of other alt coins. Notice any others using DarkGravityWave or X11?
They all got it from DarkCoin... they are open sourced. I can't believe you haven't heard of X11 until now.

Do a search on X11 and DGW in the general ann thread... tons of coins pop up.

[Peter R]

I guess you haven't kept track of other alt coins. Notice any others using DarkGravityWave or X11?
They all got it from DarkCoin... they are open sourced. I can't believe you haven't heard of X11 until now.

Do a search on X11 and DGW in the general ann thread... tons of coins pop up.

I did.  Google gives several hits for X11 and there's even a wiki.  But I never found a description of what it actually is in precise detail.  

But that's not really the point.  Where is the analysis for how all these details fit together?  How do you know this coin technology is robust?  How do you know the mining isn't being gamed?  What exactly is open source and where do I find it?  How do you know it's anonymous if you can't check for yourself?  Where are the reviews of this system by experts in the field?

I can't find any clear details, just a poorly-written confidence uninspiring white-paper and a bunch of fluff.  The more I look into this, the more I think the $57 million dollar market cap is hot air.  

[Vann]

Yes, right now it's all buyers and few sellers putting pressure on the price. I'm sure much of the current hoarding revolves around the 10% payout for Masternodes. Once that accumulation levels off it will bring the sellers back in and you should see some consolidation. If a shitcoin alt clone like AuroraCoin with zero innovation, a 50% premine and roughly the same coin total as DarkCoin could reach $90 earlier this year, it's certainly possible for DarkCoin to reach it and have a much better chance of staying there IMO.

It's difficult to say where Drk eventually will end up. It could get some anonymous coin/wallet competition, level off around $10-$40ish, or go completely crazy. It's the sort of coin that could get to $300+ one day without a person sounding completely insane for saying so.

So it's a risky coin to sell, unless you really need the money right now. I expect plenty of btc people sold off when the coin hit $10-15 or so, and felt it'd never go any higher.

I just know that unless the price goes really crazy, I'll never feel comfortable selling. I'd like to sell high and buy back in low, but beats me as to when we hit those marks. I should probably spend this weekend looking at how to set up a masternode.... my coins are wasted just sitting there otherwise. Less temptation to sell them too if they are working for me.

My god people.  Darkcoin is closed-source:







This means you don't really know anything.  The mining could be completely gamed by insiders.  How would you actually know?  The wallet could install key-loggers or bitcoin-wallet stealers.  How would you actually know?  

Have you read the white paper?  What is your impression of the expertise of the authors?  Has this paper been peer reviewed by experts in the field?  What did they say?  Do you find this odd:

Apparently we needed a white paper to be a legit crypto-currency, so here it is:

http://www.darkcoin.io/downloads/DarkcoinWhitepaper.pdf

Let me know if you see anything that could be improved, clearer, typos, etc.

Have you checked out the Darkcoin website?  What is your impression of all the "coming soon" details?

Does anyone actually know exactly what the X11 mining algorithm is?  All I've found are vague statments like this one from the white paper:

   "Darkcoin uses a new chained hashing algorithm approach, with many new scientific hashing algorithms for the proof­of­work. X11 consists of blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, and echo."

This is the description of inflation schedule from white paper:

   "DarkCoin replaces abrupt reward halving with a reward curve, 2222222/(((Difficulty+2600)/9)^2). The maximum and minimum amounts are set to 25 and five respectively."

Do you think this will be dynamically stable?  Do you understand what this means?  How many coins do you think will get produced?  Does this formula jive with the statment from here that the coin supply is "Est. ~22M Max Coins"?

How do you think the filtering of difficuly will affect the coin dynamics? Do you even understand what the following quote from the white paper means?

   "DarkGravityWave uses multiple exponential moving averages and a simple moving average to smoothly adjust the difficulty."


All of these questions and many many more coupled with the fact that everything is closed source lends a very bad smell to this coin. Coinmarket cap reports $5.7 million in exchange volume over the last 24 hours, something tells me a lot of this is the right hand selling to the left hand.  

 

If you have questions about the coin, have you tried asking them in the announcement thread instead of posting FUD about something you obviously don't have the first clue about? A simple Google search for 'DarkCoin source' will lead you to the Github page

https://github.com/darkcoinproject/darkcoin

As mentioned, many alt coins already use a number of the innovations implemented first by Darkcoin such as the x11 algorithm and DarkWave retargetting. DarkSend is the only feature of DarkCoin that is currently closed source to prevent the rampant attempts of copy clones from simply copying their innovation while it's still in testing. If you have followed alt's at all for the past two months, you would know what occurred with BlackCoin after the notoriety it gained and the flood of amateur alt clones that followed in nothing more than an attempt to cash in.

[Peter R]

If you have questions about the coin, have you tried asking them in the announcement thread instead of posting FUD about something you obviously don't have the first clue about? A simple Google search for 'DarkCoin source' will lead you to the Github page

https://github.com/darkcoinproject/darkcoin

I did a Google for Darkcoin source and I found discussion about how it's not open source yet.  In fact, the bitcointalk thread states this explicitly (https://bitcointalk.org/index.php?topic=421615.0)

As mentioned, many alt coins already use a number of the innovations implemented first by Darkcoin such as the x11 algorithm and DarkWave retargetting.

Just because some code from "January 2014" has been copied by a bunch clone coins doesn't mean that the ideas are robust or that they even make sense.  

Why is X11 "fully ASIC immune" as the wiki states (see below)?  In what way precisely would it be more difficult to create an ASIC for X11?  Just because it is a bunch of existing hashes combined doesn't necessarily mean that it is "better."  Perhaps it is actually worse?  If it was "better" to mash all sorts of hash functions together, why did the thoughtful experts who came up with SHA2 not come up with the X11 instead?  




And what is with this difficulty-dependent inflation schedule?  Is this necessarily stable?  It seems that if difficulty decreases (possibly because people are losing interest) that inflation would increase thereby increasing coin supply and adding selling pressure at the worst possible time.

What does this have to do with Moore's Law?

DarkSend is the only feature of DarkCoin that is currently closed source to prevent the rampant attempts of copy clones from simply copying their innovation while it's still in testing.

But how do you actually know what is in the binaries you're downloading for the wallet and for the miners if you can't look?  Saying it is "almost" open source but only having the binaries doesn't tell you very much, does it?  Like I said before, how do you know what is actually in that code you are running?  How do you know the mining of new coins isn't being gamed somehow by insiders?  


I'm a bit annoyed today after reading all the sad stories of people who lost money in Ripple by making an investment that they didn't understand.  I think it is the same thing with Darkcoin (and many other alts).  There simply doesn't seem to be enough information to actually understand and evaluate Darkcoin at this point in time.  

[BitcoinSteve]

my wallet is catching up 8 weeks behind but stuck at 36904 for an hour, even rebooted, is it just slow?

Make sure you have the latest wallet from the website posted in the announcement thread, v0.9.3.3-unk-beta.

but how do I transfer from old wallet to new?

Backup your wallet.dat following the guide below just in case and replace the darkcoin-qt.exe with the new one.

https://bitcointalk.org/index.php?topic=609477.0

could I get a new wallet on a diff computer and transfer from old to new or would it have to be synched before I can send drk?

If you want to transfer the coins to a different computer on your network that has never had the DarkCoin client on it just place the wallet.dat file from the old wallet with the coins in the DarkCoin APPDATA folder on the new computer and start the wallet download to download the blockchain. You should always wait until the wallet is fully synced before sending any coins.

To copy the wallet.dat from the old computer to the new one

-Backup the wallet.dat from the old computer with the coins

-Press the WIN+R keys on the computer you are transferring the coins to

-Type the %APPDATA% in the dialog box and hit OK

-In the path that opens, create a new directory named DarkCoin

-Place the wallet.dat file with the coins in that directory

-Start the wallet and let it sync

-Your coins will either show as unconfirmed or not at all until the wallet has synced and downloaded the blockchain

thanks but my wallet is stuck on synching,, its been a few hours... it was 9 weeks behind..

What is the version of the DarkCoin client you are using?

Help Tab ==> About Darkcoin from the tab menu

If it's not v0.9.3.3-unk-beta you need to download the new wallet as I mentioned.

0.8.9.0  can someone step by step me here?

[Vann]

I just download the latest wallet from the announcement page and the most current version of the old-style wallet (non-masternode) is v0.9.4.6-unk-beta

- download the latest wallet from the announcement page download section or this link to download it directly http://darkcoin.io/downloads/darkcoin-qt.exe

- backup the wallet.dat using the guide - https://bitcointalk.org/index.php?topic=621424.msg6885340#msg6885340

- Start the wallet, check it matches version v0.9.4.6-unk-beta and let it sync

[BitcoinSteve]

I just download the latest wallet from the announcement page and the most current version of the old-style wallet (non-masternode) is v0.9.4.6-unk-beta

- download the latest wallet from the announcement page download section or this link to download it directly http://darkcoin.io/downloads/darkcoin-qt.exe

- backup the wallet.dat using the guide - https://bitcointalk.org/index.php?topic=621424.msg6885340#msg6885340

- Start the wallet, check it matches version v0.9.4.6-unk-beta and let it sync

but how do I transfer my DRK coins over to that wallet?

[BitcoinSteve]

1 drk to whoever messages me and helps me step by step

[Vann]

I just download the latest wallet from the announcement page and the most current version of the old-style wallet (non-masternode) is v0.9.4.6-unk-beta

- download the latest wallet from the announcement page download section or this link to download it directly http://darkcoin.io/downloads/darkcoin-qt.exe

- backup the wallet.dat using the guide - https://bitcointalk.org/index.php?topic=621424.msg6885340#msg6885340

- Start the wallet, check it matches version v0.9.4.6-unk-beta and let it sync

but how do I transfer my DRK coins over to that wallet?

The wallet.dat file from your original wallet that you backed up is what contains your coins. If you are just moving the coins to different local computer, just follow the steps I posted earlier:

https://bitcointalk.org/index.php?topic=621424.msg6885741#msg6885741

If you are just upgrading the DarkCoin client on the same computer that your coins are on, just backup the wallet.dat and replace the old darkcoin-qt.exe with new one. After that just run the wallet and let it sync.

[BitcoinSteve]

I just download the latest wallet from the announcement page and the most current version of the old-style wallet (non-masternode) is v0.9.4.6-unk-beta

- download the latest wallet from the announcement page download section or this link to download it directly http://darkcoin.io/downloads/darkcoin-qt.exe

- backup the wallet.dat using the guide - https://bitcointalk.org/index.php?topic=621424.msg6885340#msg6885340

- Start the wallet, check it matches version v0.9.4.6-unk-beta and let it sync

but how do I transfer my DRK coins over to that wallet?

The wallet.dat file from your original wallet that you backed up is what contains your coins. If you are just moving the coins to different local computer, just follow the steps I posted earlier:

https://bitcointalk.org/index.php?topic=621424.msg6885741#msg6885741

will that work if I transfer on same computer? from old wallet to new?