DRK Coin is closed source?

[peacefulmind]

Can we be clear on whether Darksend is open source or closed source?

Closed source just screams honeypot trap.  Why would anyone trust closed source to be anonymous??

Seems to make the feature worthless because no one else can PROVE it is 100% automatically anonymous.  Without open source and peer-review its all just empty promises.

[tokyoghetto]

I believe its closed source.

[Peter R]

Can we be clear on whether Darksend is open source or closed source?

Closed source just screams honeypot trap.  Why would anyone trust closed source to be anonymous??

Seems to make the feature worthless because no one else can PROVE it is 100% automatically anonymous.  Without open source and peer-review its all just empty promises.

I can't seem to find the source code either. 

Instead of a honeypot trap, could it be a devious pump-and-dump?  It first glance it seems convincing because people think they are mining.  However, if it's all closed source, then perhaps nearly all of the mined coins are going to the devs (because the mining could be rigged too, right?). 

If the devs control nearly all of the supply, then they can just keep buying from their own accounts and pushing up the market cap.  If very few legitimate people can actually mine coins, then there's not many people to sell to keep the price down. 

So, could the $55.6 million dollar market cap of Darkcoin be entirely hot air?

[Future_1]

Darkcoin is not anonymous.

You want anonymity, mine Bytecoin (BCN)

[Peter R]

Confirmed that DRK is closed source from https://bitcointalk.org/index.php?topic=421615.0



If it is all closed source, then couldn't the mining be gamed with most the new coin supply going to insiders?

[FreebieZoner]

Confirmed that DRK is closed source from https://bitcointalk.org/index.php?topic=421615.0



If it is all closed source, then couldn't the mining be gamed with most the new coin supply going to insiders?

There is still possibility that they would never release the source code and this is just a major pump and Dump scam.   I wouldn't buy any dark coin.  But either way,  there's bound to be a popping bubble.

[peacefulmind]

Confirmed that DRK is closed source from https://bitcointalk.org/index.php?topic=421615.0



If it is all closed source, then couldn't the mining be gamed with most the new coin supply going to insiders?

Oh Shi....

The whole thing is closed source - thank you for this image!!

Why on earth are people buying into an empty promise?

If it is closed source, then how do these people know they are not all putting spyware on their PCs???  This probably does not anonymize at all LOL @ ppl.

[Peter R]

Confirmed that DRK is closed source from https://bitcointalk.org/index.php?topic=421615.0



If it is all closed source, then couldn't the mining be gamed with most the new coin supply going to insiders?

There is still possibility that they would never release the source code and this is just a major pump and Dump scam.   I wouldn't buy any dark coin.  But either way,  there's bound to be a popping bubble.

When coins can be legitimately mined, selling pressure from the additional supply will drive the price down to "pop" the bubble.  But if the mining is being gamed such that most the coins are going to insiders, then perhaps they can blow the bubble a lot higher.  Take a look at the "white paper"--the mining algorithm is complex and ambiguous (and possibly ridiculous):

   "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."

The inflation schedule is obscure:

   "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."

And even the calculation of difficulty has been "adjusted":

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

This ^^ coupled with the fact that everything is close source suggests to me that it is possible that the mining is being gamed and that very few new coins are going to outsiders. 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.  

[reRaise]

Something is off with dark, closed source, the premine story, don't know but i don't feel good about that

[qqNxt]

I don't trust drk but saw all the hype coming so I sold some of my nxt and I jumped in and out of drk within 24hours and made a few bucks, very risky money. 

[HCLivess]

Darkcoin is close-sourced to prevent for early clones.

[tokyoghetto]

Darkcoin is close-sourced to prevent for early detection of scam.

fixed 

[BCwinning]

On top of being closed source and supposedly heavily premined. It doesn't appear the authors know where
they are going with this. As I read about changes to the core almost daily it seems.

[hamiltino]

Darkcoin does not interest me, if you want a true anonymous and open source coin made by academics then wait for zerocoin which will be released in 3-6 months.

https://twitter.com/secparam/status/468784402558771200


Darkcoin aims to mix and confuse while zerocoin aims to be 100% invisible.

[PL_CoinTrader]

It would be nice if a dev of DRK could explain that or at least a DRK user. Why exactly is it closed source? When will this be changed? Why should one trust DRK?

[balu2]

it's just a wolong-pump anyways. Most of you are lost causes.

[Future_1]

it's just a wolong-pump anyways. Most of you are lost causes.

ITT: Butthurt miners that are mad because they missed the rocket ship.

Hey I missed it too. No worries.

[stealth923]

Darkcoin does not interest me, if you want a true anonymous and open source coin made by academics then wait for zerocoin which will be released in 3-6 months.

https://twitter.com/secparam/status/468784402558771200


Darkcoin aims to mix and confuse while zerocoin aims to be 100% invisible.

Zerocoin / Zerocash is 100% dependant/centralised on the coin dev destroying the one time setup key. If this is not destroyed or cracked later on, the entire coin becomes useless.

Couple that with the mathematics and cryptography foundations that DARPA, Dept Defence has provided to develop Zerocash - I would not touch it with a 100 foot pole.

[FreebieZoner]

Darkcoin is close-sourced to prevent for early detection of scam.

fixed 

Or dark coin is the scam lol.

[hamiltino]

Darkcoin does not interest me, if you want a true anonymous and open source coin made by academics then wait for zerocoin which will be released in 3-6 months.

https://twitter.com/secparam/status/468784402558771200


Darkcoin aims to mix and confuse while zerocoin aims to be 100% invisible.

Zerocoin / Zerocash is 100% dependant/centralised on the coin dev destroying the one time setup key. If this is not destroyed or cracked later on, the entire coin becomes useless.

Couple that with the mathematics and cryptography foundations that DARPA, Dept Defence has provided to develop Zerocash - I would not touch it with a 100 foot pole.

I could say the same thing about Darkcoin, its closed source so i wouldn't touch it with a 10 foot pole.

Oh and btw you are wrong about that centralization of key control...  




There are other currencies which aim to be anonymous and i believe will be superior to even zerocoin, zerocoin is just a clean example of anonymity using gen1 blockchain technology.