[ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes

[defunctec]

Has anyone else noticed the huge drop in the price of DRK? Its lost 50% of its value in less than a week. Anyone know why?

You're cherry picking your numbers somewhat eh?

DRK spiked to 0.016 for about five minutes, now it's back at 0.011 while BTC is on the up. DRK's US$ value has only dropped about 18% though from that spike top. And whatever way you look at it the price is much higher now than the 0.006 / sub $2 it was at for months.

Yes, but the pump of InstantX is all gone.

No, it's just started.

Once exchanges get their heads around using IX properly, there will be a steady flow of new adopters and then news, and then price rises.

Well I will be curious to see how it works and very interested.

Its good for spread really.

Exchanges and merchants will have already dealt with IX tech and should be able to implement SPR IX no prob.

Yes and no. InstantX is temporary. There is a lot of chatter going on about furthering that project.

Really? I've missed that..

What are the future plans for IX? And  who is talking about changing it?

Thx

[MyFarm]

As a large investor in Darkcoin who watches it very closely, I can tell you the primary problem.

The network is not stable without centralized reference nodes.  It's that simple.  Yes, there are other issues that need rectified, but that is the primary one.

We've been waiting for months and months for Evan to fix it and as of yet, he has not.  I haven't bought a Darkcoin in a long time because of this but have certainly sold some.  InstantX is awesome, but without a stable, decentralized network, it's useless.

When Evan finally gets it fixed, THAT is when the price of Darkcoin will finally go up and stay up.

What is interesting however, is the fact that Mr. Spread and Spreadcoin may beat him to it.

[njs811]

As a large investor in Darkcoin who watches it very closely, I can tell you the primary problem.

The network is not stable without centralized reference nodes.  It's that simple.  Yes, there are other issues that need rectified, but that is the primary one.

We've been waiting for months and months for Evan to fix it and as of yet, he has not.  I haven't bought a Darkcoin in a long time because of this but have certainly sold some.  InstantX is awesome, but without a stable, decentralized network, it's useless.

When Evan finally gets it fixed, THAT is when the price of Darkcoin will finally go up and stay up.

What is interesting however, is the fact that Mr. Spread and Spreadcoin may beat him to it.

And I honestly believe that he will. Evan has done a great job, but his methods are clunky and verge on being outdated.

[MyFarm]

As a large investor in Darkcoin who watches it very closely, I can tell you the primary problem.

The network is not stable without centralized reference nodes.  It's that simple.  Yes, there are other issues that need rectified, but that is the primary one.

We've been waiting for months and months for Evan to fix it and as of yet, he has not.  I haven't bought a Darkcoin in a long time because of this but have certainly sold some.  InstantX is awesome, but without a stable, decentralized network, it's useless.

When Evan finally gets it fixed, THAT is when the price of Darkcoin will finally go up and stay up.

What is interesting however, is the fact that Mr. Spread and Spreadcoin may beat him to it.

And I honestly believe that he will. Evan has done a great job, but his methods are clunky and verge on being outdated.

He will.  The question is, will it be too late.

From a financial perspective it really doesn't matter to me either way because I am heavily invested in both coins.  But it's sure going to be fun to watch and I'd love to see Spreadcoin do well.

[Propulsion]

As a large investor in Darkcoin who watches it very closely, I can tell you the primary problem.

The network is not stable without centralized reference nodes.  It's that simple.  Yes, there are other issues that need rectified, but that is the primary one.

We've been waiting for months and months for Evan to fix it and as of yet, he has not.  I haven't bought a Darkcoin in a long time because of this but have certainly sold some.  InstantX is awesome, but without a stable, decentralized network, it's useless.

When Evan finally gets it fixed, THAT is when the price of Darkcoin will finally go up and stay up.

What is interesting however, is the fact that Mr. Spread and Spreadcoin may beat him to it.

And I honestly believe that he will. Evan has done a great job, but his methods are clunky and verge on being outdated.

He will.  The question is, will it be too late.

From a financial perspective it really doesn't matter to me either way because I am heavily invested in both coins.  But it's sure going to be fun to watch and I'd love to see Spreadcoin do well.

I don't think that'll even affect the price when the reference nodes are removed.

People simply don't care about that.

[MyFarm]

As a large investor in Darkcoin who watches it very closely, I can tell you the primary problem.

The network is not stable without centralized reference nodes.  It's that simple.  Yes, there are other issues that need rectified, but that is the primary one.

We've been waiting for months and months for Evan to fix it and as of yet, he has not.  I haven't bought a Darkcoin in a long time because of this but have certainly sold some.  InstantX is awesome, but without a stable, decentralized network, it's useless.

When Evan finally gets it fixed, THAT is when the price of Darkcoin will finally go up and stay up.

What is interesting however, is the fact that Mr. Spread and Spreadcoin may beat him to it.

And I honestly believe that he will. Evan has done a great job, but his methods are clunky and verge on being outdated.

He will.  The question is, will it be too late.

From a financial perspective it really doesn't matter to me either way because I am heavily invested in both coins.  But it's sure going to be fun to watch and I'd love to see Spreadcoin do well.

I don't think that'll even affect the price when the reference nodes are removed.

People simply don't care about that.

What you need to separate is the people who are emotionally invested in Darkcoin from those who invest objectively.  It's hard, because the emotional investors are invariably the most vocal and we're all prone to selection bias (hearing what we want to hear).  In the eyes of emotional investors, Evan and Darkcoin can do no wrong.  They will cheer when Darkcoin does well and support/defend it when it does not.  They will ride Darkcoin to the highs and they'll often hold the majority of their coins no matter how low it goes.  They will engage in cognitive dissonance like no other and often go, "All in".  While these type of people are important to any asset, they are what are often referred to as, "Dumb money".  Very few self-made investors fall into this class.  I've found that quite a few people who have inherited money fall into this class, however.

Then you have your objective investors.  These are the people who will not only kick the tires but check the tire pressure and bring in outside experts to provide them opinions on an asset.  They don't allow themselves to become overly emotionally invested in any asset.  These are your investors that will invest when your fundamentals are strong and kick you to the curb when they aren't.  It's nothing personal, it's simply logical business reasoning to them.

No objective investor is going to put a large sum of money into a coin that bills itself as anonymous when there is a centralized reference node and network instability without it.  And these are the people that would take a coin like Darkcoin to its all-time highs.

Want to know how to become an objective investor?  Take a deep breath and exhale (this is important as it activates your parasympathetic nervous system) and observe your reaction.  Observe that your initial REACTION to what I just typed was that it was bullshit and to immediately figure out how to prove me wrong or roll your eyes and ignore what I said with no additional thought.  Observe that and then play devil's advocate with yourself.  Ask yourself, "What if he is right?" and go from there.  Learn to respond instead of react.

[illodin]

A temporary "reference node" isn't anymore centralized than a dev who releases a wallet that everyone downloads and starts to use. Only after a coin is at the stage where it doesn't depend on one developer it begins to be decentralized.

[MyFarm]

A temporary "reference node" isn't anymore centralized than a dev who releases a wallet that everyone downloads and starts to use. Only after a coin is at the stage where it doesn't depend on one developer it begins to be decentralized.

The problem with the, "Temporary" reference node is it has been in place for how many months now?  And it'll be in place for at least how many more months while Evan rewrites the masternode code?  At this point, it has been upgraded to, "Semi-permanent".  As I've said, I do believe that it will be removed successfully at some point but until then, I am not a buyer and I had to be a seller because the fundamentals changed.

I agree with you about the multiple developers.  In my opinion, that is one of the biggest risks for Spreadcoin.  But with that said, I'm unconvinced any of the current Darkcoin developers could replace Evan in his role.  They're all great developers and people like Vertoe and UdjinM6 have been stellar, but I'm unsure they could do what Evan is doing.  Hopefully we never find out.

[thelonecrouton]

I don't think that'll even affect the price when the reference nodes are removed.

People simply don't care about that.

Most people don't care about 90% of the network hash residing in the hands of 3 leeches. But ask yourself, if you had $millions, would you trust it to a currency who's 'security' is arguably far more centralised than traditional financial institutions?

I run a few MNs but I wouldn't trust Darkcoin with serious money and neither is anyone else going to who does have serious money.

[E9800]

Is anyone else finding blocks that never appear in their wallet? I am successfully mining to these wallets but some found blocks do not seem to make it to my total. I thought maybe I was just finding the same block as another miner and they were faster to confirm but this happens too frequently for that. It seems about every 4 blocks found I lose 1. Also seems to be more frequent on slower cards such as 270X.

[Hippie Tech]

Is anyone else finding blocks that never appear in their wallet? I am successfully mining to these wallets but some found blocks do not seem to make it to my total. I thought maybe I was just finding the same block as another miner and they were faster to confirm but this happens too frequently for that. It seems about every 4 blocks found I lose 1. Also seems to be more frequent on slower cards such as 270X.

Some coins have an orphan bug/ exploit and/or one or more of the whales is rejecting them.

[pokeytex]

Is anyone else finding blocks that never appear in their wallet? I am successfully mining to these wallets but some found blocks do not seem to make it to my total. I thought maybe I was just finding the same block as another miner and they were faster to confirm but this happens too frequently for that. It seems about every 4 blocks found I lose 1. Also seems to be more frequent on slower cards such as 270X.

I mine to one wallet with (2) rigs (2) computers.  I have never lost a block.  I am at a loss for you in understanding the error.  Anyone else?

[devlin]

Is anyone else finding blocks that never appear in their wallet? I am successfully mining to these wallets but some found blocks do not seem to make it to my total. I thought maybe I was just finding the same block as another miner and they were faster to confirm but this happens too frequently for that. It seems about every 4 blocks found I lose 1. Also seems to be more frequent on slower cards such as 270X.

For solo mining you can use --scan-time 1 --expiry 1 in your miner settings, this will limit orphan blocks

[e1ghtSpace]

A temporary "reference node" isn't anymore centralized than a dev who releases a wallet that everyone downloads and starts to use. Only after a coin is at the stage where it doesn't depend on one developer it begins to be decentralized.

There is a big difference. A wallet that everyone can download gives them a choice of weather to accept the changes or not, unlike a reference node, which can make changes to the network at its will and everyone automatically accepts it.

[georgem]

A temporary "reference node" isn't anymore centralized than a dev who releases a wallet that everyone downloads and starts to use. Only after a coin is at the stage where it doesn't depend on one developer it begins to be decentralized.

There is a big difference. A wallet that everyone can download gives them a choice of weather to accept the changes or not, unlike a reference node, which can make changes to the network at its will and everyone automatically accepts it.

Good point.
Also, especially when a lot of money is involved, investors will tend to build the wallets/masternodes themselves using the open source code.
They will not allow for any uncertainties.
In fact they will insist on open source code.

Try and offer any investor a closed source wallet, and see how "excited" he will get...  
Darkcoin did get a lot of complaints from the crypto community for going closed source for a while... but this was just in the early stages of the coin.

[illodin]

Obviously it's not the optimal situation to be in, but if you don't trust the dev to handle the reference node responsibly, then you don't trust the dev to keep on developing and can just dump it instantly. Same with checkpoints.

[georgem]

I look at the dev of a coin as the captain of a ship.

He is important because he helped build the ship, he hired a crew, he started the cruise, and he keeps us on course.
But he is also just a human, he can go crazy, and then a mutiny might be appropriate. He might also get sick and die, so it's important that other people also figure out how to control this ship.
But obviously - most of the time - such fears are baseless and we don't concern ourselves much with such scenarios.

But the one thing I want to have certainty over - at all times - is the quality of the ship.

What material is it built of?
How fast is it? How sturdy is it?
How well does it handle stormy weather?
Is it fully fueled?

[MyFarm]

Obviously it's not the optimal situation to be in, but if you don't trust the dev to handle the reference node responsibly, then you don't trust the dev to keep on developing and can just dump it instantly. Same with checkpoints.

It's not about trusting Evan.  It's about not trusting the entities that could wield power over him if so desired.  At present, Darkcoin is like Napster with its centralized servers.  The government got pissed at Napster and it was done.  Digital cash, as disruptive as it is going to be, needs to be unable to be shutdown by anyone.

[njs811]

Obviously it's not the optimal situation to be in, but if you don't trust the dev to handle the reference node responsibly, then you don't trust the dev to keep on developing and can just dump it instantly. Same with checkpoints.

It's not about trusting Evan.  It's about not trusting the entities that could wield power over him if so desired.  At present, Darkcoin is like Napster with its centralized servers.  The government got pissed at Napster and it was done.  Digital cash, as disruptive as it is going to be, needs to be unable to be shutdown by anyone.

I am impressed with the masternodes of SPR. They are smaller, more accessible, and more reasonable than DRKs. It means anyone can get in at any time. If my grandma can get into a coin, that makes it decentralized. SPR is great for the most uneducated script kitties.

[Hippie Tech]

After seeing just how much wolf0 was able to optimize the CPU I realized just how much a few miners with properly optimized code could dominate.  And if I was:

1.  Someone who only care about definite profit, I could get such a miner and dump for more than it costs me to mine.
2.  If I was a competing coin, I could keep the price of the coin deflated.

3. BINGO on #1.
4. Markets are easily manipulated when the dev owns more than 5% of the coins.

They set their bots to buy/sell into their orders, inducing panic buys and sells at will. And all it takes is one panicing noob to make back the 0.25% exhange fees.

Did you forget about this enlightening revelation ?

Or did you purposely ignore my response after realizing that you have said too much ? lol