What happened to DarkCoin?

[darkota]

Taunsew is trying to hard to "promote" shit, premined, and horribly distrubted PoS coins like NXT....so sad....so sad indeed. The first 50 accounts on the NXT richlist own over 48% of all NXT coins there is... That's some Really good distribution for yea. (extreme sarcasm)


With 100% PoS, the early investors get Everything.

With 100% PoW, the early investors get more reward, but they almost always sell early, and there is Always a chance for latecomers to buy their own mining equipment and get coins themselves.

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[reRaise]

Fad and won't work i'll tell you why

Apart from the possibility of regulatory issues, if the blockchain/transaction record is hidden, then groups of pool owners of large pools could potentially collude to double spend, and if there is no transaction record, then this will not be detectable. Other such scenarios exist as well - remember that the blockchain is a public ledger designed to prevent or record fraud. Hiding this exposes the coin to serious risks.

[darkota]

Fad and won't work i'll tell you why

Apart from the possibility of regulatory issues, if the blockchain/transaction record is hidden, then groups of pool owners of large pools could potentially collude to double spend, and if there is no transaction record, then this will not be detectable. Other such scenarios exist as well - remember that the blockchain is a public ledger designed to prevent or record fraud. Hiding this exposes the coin to serious risks.

The only anonymous coins that will hide the blockchain itself is zerocash, which hasn't even been released yet.

Monero/Cryptonote doesn't hide the blockchain
Darkcoin/Coinjoin doesn't hide the blockchain

You can still see what pools have what hashrate, double spend attacks, etc on Cryptonote coins and Coinjoin coins. Zerocash is the only one where the blockchain itself is hidden and you can't see anything at all.

And there are ways to regulate anonymous coins to prevent fraud/money laundering, via the exchanges they're traded on, just like USD/EURO etc etc on Paypal

[TaunSew]

Taunsew is trying to hard to "promote" shit, premined, and horribly distrubted PoS coins like NXT....so sad....so sad indeed. The first 50 accounts on the NXT richlist own over 48% of all NXT coins there is... That's some Really good distribution for yea. (extreme sarcasm)


With 100% PoS, the early investors get Everything.

With 100% PoW, the early investors get more reward, but they almost always sell early, and there is Always a chance for latecomers to buy their own mining equipment and get coins themselves.

NxT isn't premined as there was no mining.

[darkota]

Taunsew is trying to hard to "promote" shit, premined, and horribly distrubted PoS coins like NXT....so sad....so sad indeed. The first 50 accounts on the NXT richlist own over 48% of all NXT coins there is... That's some Really good distribution for yea. (extreme sarcasm)


With 100% PoS, the early investors get Everything.

With 100% PoW, the early investors get more reward, but they almost always sell early, and there is Always a chance for latecomers to buy their own mining equipment and get coins themselves.

NxT isn't premined as there was no mining.

There are different meanings to premining, one is where coins/blocks are generated Without mining, before the coin/wallet/miner itself is released to the public, and the other is where a coin is mined in secret.

The 1st one or the former is what happened to NXT. There was a 100% premine that was horribly distributed to "72 people", and because no taint analysis was done to make sure those 72 people were real people and not sockpuppets, we can assume there was actually a lot less real stakeholders, and that a lot of the accounts were sockpuppets.

[Brilliantrocket]

looks like a classic mining control slow sell off to me.

this means they have real bag holders to sell to.

That's the downside to PoW.  It's one thing when people were hobby mining in 2010.  In 2014 -  Professional miners dominate it now and they're lmost never long term holders.  They have overhead bills (electricity / bandwidth / hardware) and they tend to dump at the first opportunity and then move onto the next PoW coin.

PoW is so laughable but what's more funny is people still throw their money at PoW coins

Proof of Stake is inherently flawed.

Proof-of-stake will never remain decentralized:

https://bitcointalk.org/index.php?topic=558316.msg6501774#msg6501774

Send all proof-of-stake currencies to the trashcan.

[digitalindustry]

looks like a classic mining control slow sell off to me.

this means they have real bag holders to sell to.

That's the downside to PoW.  It's one thing when people were hobby mining in 2010.  In 2014 -  Professional miners dominate it now and they're lmost never long term holders.  They have overhead bills (electricity / bandwidth / hardware) and they tend to dump at the first opportunity and then move onto the next PoW coin.

PoW is so laughable but what's more funny is people still throw their money at PoW coins

Just because its not perfect does not mean you throw it in the trash , especially when its the only real system.

You try to instead find solutions.

[damiano]

looks like a classic mining control slow sell off to me.

this means they have real bag holders to sell to.

Bingo

It's gonna come down hard within the next few weeks.

[digitalindustry]

looks like a classic mining control slow sell off to me.

this means they have real bag holders to sell to.

Bingo

It's gonna come down hard within the next few weeks.

question is:

 it worth buying even then?

i'm far from convinced .

[TaunSew]

looks like a classic mining control slow sell off to me.

this means they have real bag holders to sell to.

Bingo

It's gonna come down hard within the next few weeks.

Yeah this is what happens to every alternate POW.  Professional miners (whales) selling outstrips any demand for the coin.  The crashing price has an inverse effect on decreasing demand as nobody wants to be a bagholder for a coin they think is going to go down forever.


Crypto currencies have changed since 2009 or even 2013 for that matter.   Too many people are getting into this game just for the sake of a few quick bucks.

[digitalindustry]

looks like a classic mining control slow sell off to me.

this means they have real bag holders to sell to.

Bingo

It's gonna come down hard within the next few weeks.

Yeah this is what happens to every alternate POW.  Professional miners (whales) selling outstrips any demand for the coin.  The crashing price has an inverse effect on decreasing demand as nobody wants to be a bagholder for a coin they think is going to go down forever.


Crypto currencies have changed since 2009 or even 2013 for that matter.   Too many people are getting into this game just for the sake of a few quick bucks.

Buy Quality at low prices - not scams with "gimmicks" at high prices ?

[toknormal]

Anonymity is a fad

...but privacy isn't.

"Fiat" blows crypto away in the privacy stakes. Even though fiat transactions are not "anonymous" there's no sense in which they are in the public domain the way bitcoin's transaction ledger is.

Doesn't matter that you "never have to show any Government ID to create a wallet". Once joe public knows that everything they do, every transaction in and out of their "account" is in the public domain, they're going to have a problem with it - doesn't matter that the address doesn't have their name on it. It's the one glaring gap that bitcoin has which fiat doesn't. The only single aspect in which fiat is "better" than crypto.

Add to all that the fungibility problem that a transparent blockchain raises - just amply demonstrated by the recent debate over the US Marshal auction.

Given that background "Anonymity" is far from being a fad.

[bitminister123]

DRK has took a drop but is still alive, fingers crossed this is 1 of the few although that are here to stay

[aleix]

nice news:

https://bitcointalk.org/index.php?topic=421615.msg7726439#msg7726439


 

[illodin]

nice news:

https://bitcointalk.org/index.php?topic=421615.msg7726439#msg7726439


 

Evan Duffield just posted the latest development update, where he introduced the first improvement to the Darksend, calling it "Darksend+". Now an individual masternode can't know both the sender and the receiver.

https://darkcointalk.org/threads/development-updates-july-7th.1735/




So, in conclusion, what happened to Darkcoin, is that it just got even better!

[mymenace]

just speculating

[TsuyokuNaritai]

just speculating

[reRaise]

Fad and won't work i'll tell you why

Apart from the possibility of regulatory issues, if the blockchain/transaction record is hidden, then groups of pool owners of large pools could potentially collude to double spend, and if there is no transaction record, then this will not be detectable. Other such scenarios exist as well - remember that the blockchain is a public ledger designed to prevent or record fraud. Hiding this exposes the coin to serious risks.

The only anonymous coins that will hide the blockchain itself is zerocash, which hasn't even been released yet.

Monero/Cryptonote doesn't hide the blockchain
Darkcoin/Coinjoin doesn't hide the blockchain

You can still see what pools have what hashrate, double spend attacks, etc on Cryptonote coins and Coinjoin coins. Zerocash is the only one where the blockchain itself is hidden and you can't see anything at all.

And there are ways to regulate anonymous coins to prevent fraud/money laundering, via the exchanges they're traded on, just like USD/EURO etc etc on Paypal

As far as i know dark hinders to detect the source and destination of payments within the network so making it hard to identify wallet addresses and following transactions through the block chain. So like i said earlier one of the main reasons of a public ledger is to prevent or record fraud. Hiding this exposes the coin to serious risks.

In case of MtGox it would be not possible to follow coins if it would've been with dark, or other scenarios where there is need to follow the coins.

[darkota]

Fad and won't work i'll tell you why

Apart from the possibility of regulatory issues, if the blockchain/transaction record is hidden, then groups of pool owners of large pools could potentially collude to double spend, and if there is no transaction record, then this will not be detectable. Other such scenarios exist as well - remember that the blockchain is a public ledger designed to prevent or record fraud. Hiding this exposes the coin to serious risks.

The only anonymous coins that will hide the blockchain itself is zerocash, which hasn't even been released yet.

Monero/Cryptonote doesn't hide the blockchain
Darkcoin/Coinjoin doesn't hide the blockchain

You can still see what pools have what hashrate, double spend attacks, etc on Cryptonote coins and Coinjoin coins. Zerocash is the only one where the blockchain itself is hidden and you can't see anything at all.

And there are ways to regulate anonymous coins to prevent fraud/money laundering, via the exchanges they're traded on, just like USD/EURO etc etc on Paypal

As far as i know dark hinders to detect the source and destination of payments within the network so making it hard to identify wallet addresses and following transactions through the block chain. So like i said earlier one of the main reasons of a public ledger is to prevent or record fraud. Hiding this exposes the coin to serious risks.

In case of MtGox it would be not possible to follow coins if it would've been with dark, or other scenarios where there is need to follow the coins.

That must be a feature Darkcoin will have in RC4? There's still the option to use regular sending like with Bitcoin, and Darksend, so Darksend isnt mandatory.

Also, Cryptonote coins dont hide the blockchain.....so I don't see how this would be a issue for them.

[Bitcoin Magazine]

DarkCoin should be illegal.  or closely monitored by the F.B.I. for suspicious activity.