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Author Topic: 【Truth or FUD???】DarkCoin – The Next Big Thing, or Just Another Pump and Dump?  (Read 15439 times)
hashnine
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June 10, 2014, 09:08:52 AM
Last edit: June 10, 2014, 09:41:19 AM by hashnine
 #161

DRK is just another pump and dump that only benefits the pre-miner!

I just find some good informations about the DRK pre-mine:
http://www.reddit.com/r/DRKCoin/comments/26t2ur/darkcoin_premine_proofs/

But.... no proof.

So shut up kid.

Read this:

Quote
There was no pre-mine by the dev..

There was a bug in the difficulty calculation that caused the difficulty to get stuck at a very low number, generating a lot of blocks. This is called an insta-mine.

The 500 DRK per block was exactly as it should be, if you look in the source code you can see that the block reward calculation is different for different hash rates.

And learn how to leak properly, little newbie of internet.


edit: http://cryptolife.net is down for ever, said thank you guys.

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June 10, 2014, 11:33:43 AM
 #162

you sell now.  you not lose so much money

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June 10, 2014, 02:24:17 PM
 #163

DRK is just another pump and dump that only benefits the pre-miner!

I just find some good informations about the DRK pre-mine:
http://www.reddit.com/r/DRKCoin/comments/26t2ur/darkcoin_premine_proofs/

But.... no proof.

So shut up kid.

Read this:

Quote
There was no pre-mine by the dev..

There was a bug in the difficulty calculation that caused the difficulty to get stuck at a very low number, generating a lot of blocks. This is called an insta-mine.

The 500 DRK per block was exactly as it should be, if you look in the source code you can see that the block reward calculation is different for different hash rates.

And learn how to leak properly, little newbie of internet.


edit: http://cryptolife.net is down for ever, said thank you guys.

Yes, the author give the proofs. Read the topic:
http://www.reddit.com/r/DRKCoin/comments/26t2ur/darkcoin_premine_proofs/

About the bug, can you prove it? The dev can say that was a bug but I don't believe it.
And even if this was a bug, the developer would have had to make a airdrop with these pre-mined blocks.
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June 10, 2014, 02:50:20 PM
 #164

DRK is just another pump and dump that only benefits the pre-miner!

I just find some good informations about the DRK pre-mine:
http://www.reddit.com/r/DRKCoin/comments/26t2ur/darkcoin_premine_proofs/

But.... no proof.

So shut up kid.

Read this:

Quote
There was no pre-mine by the dev..

There was a bug in the difficulty calculation that caused the difficulty to get stuck at a very low number, generating a lot of blocks. This is called an insta-mine.

The 500 DRK per block was exactly as it should be, if you look in the source code you can see that the block reward calculation is different for different hash rates.

And learn how to leak properly, little newbie of internet.


edit: http://cryptolife.net is down for ever, said thank you guys.

Yes, the author give the proofs. Read the topic:
http://www.reddit.com/r/DRKCoin/comments/26t2ur/darkcoin_premine_proofs/

About the bug, can you prove it? The dev can say that was a bug but I don't believe it.
And even if this was a bug, the developer would have had to make a airdrop with these pre-mined blocks.

Yea, the "bug" is code that was put there purposely by the dev.
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June 10, 2014, 11:05:04 PM
 #165

Check that guys:
http://devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins#darkcoin
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June 11, 2014, 04:35:01 PM
 #166


thanks

Your account locked, please contact support.
TsuyokuNaritai
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June 11, 2014, 04:58:14 PM
 #167

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 !


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June 11, 2014, 06:41:48 PM
Last edit: July 13, 2015, 06:46:19 PM by manfred
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 #168

Of course its a scam, but in the cryproworld its just another one to add to the ever growing list.

It originaly launched a few minutes before the official launch time on the 18th January 9:58 (5pm EST)


Because the code was full of bugs a restart was necessary, it then officially launched at 11pm EST


The coin was 5 min old the first screams of instamine


.

So we finally mate it to the active blockchain. The dev mate sure it is the worst possible launch time for Europe and America, but he at least it was a good time for Kiribati. Cheesy
Sunday at 4 am in the morning is a sure time you find most miners waiting for a launch
.



The coin is barly a few minutes old and the dev is already throwing the coins by the thousands



Yes its raining coins, but he enjoy it will it lasts.



If the dev would have been serious about the instamine he would have relaunched after having discovered yet another bug, after all it was done before.
Equally the dev is flat out lying in his claim the algo it is ASIC resistant and it being anonym. All it does is displaying his true character.


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June 11, 2014, 08:04:50 PM
 #169

I believe most "costumers" that come here are aware that this is the wild west. Hate the missing windows but only be-course I missed out. If I take a little larger perspective, I would still chose to invest in drk knowing that the dev have good incentive to continue support in many years.
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June 12, 2014, 03:34:55 AM
 #170

I believe most "costumers" that come here are aware that this is the wild west. Hate the missing windows but only be-course I missed out. If I take a little larger perspective, I would still chose to invest in drk knowing that the dev have good incentive to continue support in many years.

+1

I hope the dev has at least 100k so he can commit to full time development for the next 2 years.
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June 12, 2014, 03:48:01 AM
 #171



Of course its a scam, anyone whit half a brain knows this, but in the cryproworld its just another one to add to the ever growing list.


I dunno. Do you really think at the time of launch Evan would know that Darkcoin would go on to have this kind of success? How many cryptos out of the 500+ launched in the last 2 years have made it to the market caps that Darkcoin has?

In the few months I've been here I've already seen a lot of sinister and shady characters spout a bunch of b.s. that went on to translate to losses for whatever coin they were behind. At this point its getting kind of easy to spot. DRK does not fall into this category -- neither does its price action.

Much like NXT, Blackcoin, Dogecoin and a few other coins, I don't get scammy vibes from the most vocal members of the DRK community. What I read is thoroughness and dedication to reality rather than hype and psychological manipulation.

Having said that, yes its quite possible DRK could have some flaws and a competitor takes its spot. But we are all pretty much beta testers, determining which features and qualities are beneficial for cryptocurrencies, and there's no need to get too emotionally attached to any one coin.

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June 12, 2014, 05:29:05 PM
 #172



Of course its a scam, anyone whit half a brain knows this, but in the cryproworld its just another one to add to the ever growing list.


I dunno. Do you really think at the time of launch Evan would know that Darkcoin would go on to have this kind of success? How many cryptos out of the 500+ launched in the last 2 years have made it to the market caps that Darkcoin has?

In the few months I've been here I've already seen a lot of sinister and shady characters spout a bunch of b.s. that went on to translate to losses for whatever coin they were behind. At this point its getting kind of easy to spot. DRK does not fall into this category -- neither does its price action.

Much like NXT, Blackcoin, Dogecoin and a few other coins, I don't get scammy vibes from the most vocal members of the DRK community. What I read is thoroughness and dedication to reality rather than hype and psychological manipulation.

Having said that, yes its quite possible DRK could have some flaws and a competitor takes its spot. But we are all pretty much beta testers, determining which features and qualities are beneficial for cryptocurrencies, and there's no need to get too emotionally attached to any one coin.

Excellent post. I feel the same way and have invested accordingly. The developer has proven to be adept at using constructive criticism to improve the coin... and the massive cacophony of non constructive FUD is just par for the course in crypto.

The market will decide DRK's fate, and I've made my bets. A low effort blog post by a self-styled expert means precisely nothing.

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June 12, 2014, 05:56:50 PM
 #173

And in the name of Darkcoin FUD, it has now become fashionable to promote scam anon coins

I see the price has been slowly declining this week and will continue to do so as people sell off and move into NXT, XC or monero
Most likely people move back to Bitcoin because of this:
http://www.scribd.com/doc/228523266/Anonymity-Airdrop
https://bitcointalk.org/index.php?topic=639043.0
Time will tell


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June 12, 2014, 08:44:01 PM
 #174


Quote
No one...wait for it...Cares.
Well maybe it's time to engage the upstairs department on the odd occasion.
Apart from the instamine there is of course also the mining with ultra high reward in the first month which gave the miners more coins than the bitcoin miners produced in over a year.

Anyway, now lets move on to the goose with the gold laying eggs, mastermodes.
The idea is to hord as many coins as can be  and set up masternodes then wait for the golden shower. Except when everone just hord's the coins it leaves non for circulation and starves the coin to dead. No usage no pay. Holding just one masternode want be profitable, but its not such a problem as the instaminers have lots of them anyway.   

Of course the biggest issue is anonymity. Someone providing the masternodes is not anoym only people using there service. So the moment someone claims to have used the service to extort some money after having someone kidnapped anyone offered the help by providing the mixing service becomes an instant accessory to the crime. Drug dealing, money laundering killer for hire you name it, just about every crime you can think of you become part of by operating the money mixing service for the ill-gotten lot.
Yeh sure that sounds about the best investment ever. One thing it will ensure you to have sooner or later a nice chat with some of Benjamin Lawsky colleges.
Good luck with this smart investment, as far as i can see its a "Dead coin walking".
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June 12, 2014, 10:06:38 PM
 #175

Of course the biggest issue is anonymity. Someone providing the masternodes is not anoym only people using there service. So the moment someone claims to have used the service to extort some money after having someone kidnapped anyone offered the help by providing the mixing service becomes an instant accessory to the crime. Drug dealing, money laundering killer for hire you name it, just about every crime you can think of you become part of by operating the money mixing service for the ill-gotten lot.

Oh the hate is strong with this one. This has already been answered in the drk thread.
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June 12, 2014, 10:49:30 PM
 #176

Darkcoin is here to stay.With so many services it is associated with and so much coverage it can't be another pump and dump.
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June 13, 2014, 04:53:35 AM
Last edit: June 13, 2014, 05:05:57 AM by SoapMaker
 #177


Darkcoin is a solid coin.
The lead darkcoin dev made, open sourced & released the X11 algo / most new coins use it.
The lead darkcoin dev made, open sourced & released kimoto gravity well difficulty adjustment / most altcoins used it.
Then the lead darkcoin dev made, open sourced & released dark gravity wave / most altcoins use it.
Darkcoin wasn't "instamined" the darkcoin dev created the difficulty readjustment mechanism that all other alts use today
in response to the difficulty issues at lauch...
Just because he said "enjoy them while they last" does not prove unethical behaviour.
The lead darkcoin dev has open-sourced all of his work to date, why would he re-neg on darksend ?
This thread is pure garbage. fud lies & more fud.

With the above innovations Darkcoin deserves to be the # 3 cryptocoin.
With Darksend, it deserves to be # 2.

This corporate empire of three city states controls the world economically through London’s inner city, militarily through the District of Columbia, and spiritually through the Vatican
                 http://youtu.be/C1pkJaNbzLU              https://darkcointalk.org/threads/rc4-launch.2033/                      http://conspiracycoin.org/                          
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June 13, 2014, 07:23:07 AM
 #178

Just a pump and dump coin.  Tongue

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June 17, 2014, 07:35:54 PM
 #179

Of course the biggest issue is anonymity. Someone providing the masternodes is not anoym only people using there service. So the moment someone claims to have used the service to extort some money after having someone kidnapped anyone offered the help by providing the mixing service becomes an instant accessory to the crime. Drug dealing, money laundering killer for hire you name it, just about every crime you can think of you become part of by operating the money mixing service for the ill-gotten lot.


Its also not illegal to run a Tor node in most countries, which is basically the same thing.

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June 17, 2014, 11:41:08 PM
 #180

Just a pump and dump coin.  Tongue

Thats right - it is just a typical pump and dump coin like vertcoin was before. Wink
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