Will Darkcoin take second place over Litecoin next bubble?

[coins101]

Holding several different flavours of anonymity is no bad thing.

Bitcoin got its big media breaks from the perception that it was anonymous. Silk Road gave it a big media bump early on, and the mainstream media has stuck to that line.

Darkcoin could actually make Bitcoin more popular than it already is.

If the mainstream media are educated that Darkcoin gives actually privacy and Bitcoin, by comparision, is more open than people were led to believe, that instantly gives Bitcoin credibility as an open and transparent crypto currency; and DRK gets the neferious cousin price bounce.

The interest in anonymous crypto, led by DRK's price rise, created copycat projects and a ton of variants on the theme. A blooming BTC price causing a bounce to the DRK price will only peak interest in other anonymous projects. So that is why it's potentially useful to have a mixed bag of selevtive anon crypto: DRK, XMR and BBR (both of these Crptonote projects are still under development so delayed investment would be adviseable, IMO).

This is on the basis that you want to increase the number of BTC you hodl in the short to medium term, not necessarily become a long-term fanboy of any of these projects (like me).

Notice I didn't mention Litecoin once in that little summary. The LTC ticker should be changed to: MEH

[Ignition75]

When LTC was born, there were no other options and it served it's purpose.

Looking back with hindsight, changing 1 line of code just doesn't cut it anymore.  Litecoin will go down in history as the first Shitcoin...

[derpberp]

Yup, This is the type of stuff I wanted to see by posting this thread, Thank you everyone you are making my day!!

Darkcoin always seemed like it was right up everyone's alley, I can't help but agree with toknormal/coins101. We got tons of free (albeit bad) publicity from SR to the point where everyone thinks its the anarchist's answer to anonymous currency, which we all know is only half the case. As long as you never attach a name to your bitcoin, and are very careful about the way you transact, yes you can remain for the most part anonymous. The media is constantly saying "bitcoin" the anonymous anarchist's currency. I really can't help but feel like the Darknet markets would utilize such coins to facilitate their billions of dollars worth of illegal transactions. Is there any Darkcoin markets utilizing this coin now? I'm sure most are still using bitcoin for what ever reason.

I think Darkcoin definitely brings something new to the table, something that Bitcoin supposedly brought, but we all learned later on that its only half the case. That is why I was seriously curious about DRK as I think it really could contend with LTC for second place due to these features.

Great points to make note of: DRK is almost independantly priced from LTC/BTC in the sense that when it rises, only it and its clones rise and normally doesn't follow suit with BTC/LTC - But if LTC/BTC start to rise, Why would DRK just sit behind?

I think we would be wise to buy DRK over PPC or any other alt that made it +15 on BTC-E last bubble (other than LTC, I still consider LTC a safe bet imo, but it is true now, that one line code changes are no longer going to suffice for alt coins, which is a GOOD THING!!!!)

I know there's some things people don't like about DRK - The way it was launched for instance, and above that was argued as the reason DRK doesn't have a future... I can't help but remember NOVACOIN was at like 30 fucking dollars each and everything about that coin is a scam... Even BTC-E got bribed with 250k NVC to add it to the exchange.

Innovation is Key and right now I think DRK has the most innovation - Unless anyone can point me in a better direction? Not too impressed with Monero, should i be? Looks pumped honestly.

Question added: How effective is Darkwallet? Is something like Darkwallet enough to make Bitcoin completely anonymous and make DRK obsolete? (I know nothing of Darkwallet so forgive my noob questions here)

[derpberp]

I love the weekly graph of LTC btw - such a smooth decline into old areas of support and resistance, it really helps me look at bitcoin in the same light around these prices.

[rangedriver]

Darkcoin is technologically and psychologically flawed. There is space next to a Bitcoin for a mainstream anonymous coin. However the only way such an anonymous coin can succeed is by making the libertarian argument, not the 'in the dark doing nefarious things such as terrorism, money laundering, child porn, drugs, murder' argument. The mainstream and media will come down very hard on an anonymous coin. How is Darkcoin supposed to win the libertarian argument when it is called Darkcoin? Good luck with that on Capitol Hill. You'll need it.

In any case, it's technologically flawed. The point about an anonymous coin is that it's supposed to stop the NSA from spying on your economic activities. What is the point if it can't do that?

I know Darkcoin might give college doofuses (who get scared/excited by Dark things) a raging hard-on, but it has the credibility of a plastic toy when it comes to anonymity and survivability.

So no. I don't expect Darkcoin to have a big market cap, because the real users of hardcore anonymity (libertarians,terrorists, mafias) will be shifting their TRILLIONS in a coin that 1) works as intended, 2) triumphs the libertarian argument without sounding like incredible twats.

[derpberp]

Well I agree with you but sadly I think ANY coin that boasts anonymous features will come under scrutiny from capitol hill, regardless of the name. You could make it the best sounding coin in the world but the second it facilitates money laundering and the like, its going to come under heavy scrutiny.

I think Bitcoin has come under alot of scrutiny due to these issues and its not even completely anonymous. Bitcoin at least proves that they won't just "shut'er down" the second they find out about it.

Capitol Hill didn't really care about BTC till it started rising so I'd image a anonymous coin could have years of use before it hits mainstream public depending on how much hype there is when it actually comes out. Even then I doubt they would just shut it down and say no. They might watch it but that's quite alright if they do because it's you the user that is responsible for covering your tracks once a currency like that is in place, though I think most of us don't care at all about covering our tracks because we use bitcoin for legitimate purposes. No matter how anonymous the Blockchain is, you'll still have exchanges and fiat currency conversions to worry about. I'm pretty sure Bitcoin has been used for more evil than good up till about a year ago, they didn't just shut it down lol. They did make sure to bust a few big boys, whom probably thought they were immune to prosecution due to using bitcoin (which is again, the users responsibility to not be a derpcake and think they are outside the law just because its pixels). ..still waiting for the Fontas bust, I noticed he finally wised up and F-ed off. lol.

Now I don't think DRK is the answer either, but I see it as the mostly likely candidate to receive alot of hype in the near future, until something better arises. I'm asking about if a bubble were to happen next week, where would DRK stand? Right now I think it has a very good chance of going just as far as most of the other coins last bubble, they are over NVC/PPC/XPM/and all the others on BTC-E and sit right behind LTC price wise, we saw DOGE and all kinds of other weird ass coins have meteoric rises last bubble (like 42??? why was that shit 400 bitcoin per 42 at one time?) lol. I'm pretty sure all they changed was the number "21m" to "42" and probably a algorithm change. Why??

Theres a lot of logic being stated here as to why Alts won't make it long term (and I for the most part agree with all of them), but there was ABSOLUTELY no logic to the rising of last bubbles altcoins. I remember people saying "wow my 40 dollars worth of altcoins on cryptsy are worth 1,000 bucks now" lol. It was mainly due to the influx of new chinese exchanges excepting alt coins ya? so that probably won't happen this time around, I found it very weird, there was no logic behind it.

I think random cryptsy coins won't rise, but the next bubble will see the rise of coins that were the first to come out with a particular feature. I think LTC/PPC/XPM/ and all the btc-e coins that have basically been established as "the first of their kind to catch on" will see some form of rising.

Now just like before, they will all rise to different heights respective of their placement in the "crypto economy".

So I still see BTC/LTC rising the most out of all of them. But how close will DRK be to LTC next bubble? That's my question.

[defunctec]

Darkcoin is technologically and psychologically flawed. There is space next to a Bitcoin for a mainstream anonymous coin. However the only way such an anonymous coin can succeed is by making the libertarian argument, not the 'in the dark doing nefarious things such as terrorism, money laundering, child porn, drugs, murder' argument. The mainstream and media will come down very hard on an anonymous coin. How is Darkcoin supposed to win the libertarian argument when it is called Dark[Suspicious link removed]d luck with that on Capitol Hill. You'll need it.

In any case, it's technologically flawed. The point about an anonymous coin is that it's supposed to stop the NSA from spying on your economic activities. What is the point if it can't do that?

I know Darkcoin might give college doofuses (who get scared/excited by Dark things) a raging hard-on, but it has the credibility of a plastic toy when it comes to anonymity and survivability.

So no. I don't expect Darkcoin to have a big market cap, because the real users of hardcore anonymity (libertarians,terrorists, mafias) will be shifting their TRILLIONS in a coin that 1) works as intended, 2) triumphs the libertarian argument without sounding like incredible twats.

Kristov Atlas practically said Darkcoin is anonymous to the point of NSA, who would require alot of resources to do very little damage.

Ip obfuscation to hide masternode ips is being worked on by Evan Duffield, which will happen and dramatically improve anonymity. Darkcoin's dev team always deliver on promises and tech (Masternodes,Spork,Darksend,Open Source).

"Darkcoin" in reference to "darknet" "darkmarkets" just refers to the anonymity these networks provide. Remember its not the tech, its the people that use it. Not all darknet stuff is illegal or immoral(I know allot is).

[toknormal]

Darkcoin is technologically and psychologically flawed. There is space next to a Bitcoin for a mainstream anonymous coin. However the only way such an anonymous coin can succeed is by making the libertarian argument...

I think you've made the right points but picked the wrong coin.

The "Libertarian argument" is nothing to do with labels or brands. Nor does it need to be "NSA" proof. The "Libertarian argument" centres around privacy being a core prerequisite to financial freedom. If you're going to cite that as your criteria then a practical level of anonymity is all that's required. Despite that, the technological approach now being implemented on the Darkcoin network goes way beyond a "practical level of anonymity" and, as other posters have pointed out, is already getting endorsements by 3rd party auditors.

The other reason that DRK supports the "Libertarian argument" with greater fidelity than its competitors is due to its 2-tier approach. By pursuing this route instead of an integrated one like cryptonote which puts BOTH the commercial AND technological interfaces right out on a limb, Darkcoin is addressing the mainstream economy - not the "dark" economy. It has planted its commercial interface square in the centre of Bitcoin's world while freeing its second tier up to provide an anonymity service for that mainstream economy.

The elegance of design in making those two layers independent is Darkcoin's real strength - the anonymity layer isn't "welded" into the blockchain technology as it is with most of its competitors, thereby giving them the clumsiest transmission mechanism around because they've got to do everything in realtime at the point of transaction. A bit like going out to hunt every single time you get hungry instead of going once and keeping the animals in a pen for when your ready to eat.

In my opinion this is a far greater flaw by an order of magnitude than anything you've cited about Darkcoin.

[ElitistCA]

So what Drakcoin offers other than anonymity.. i think there will be many services that will provide a sufficiet anonymity..also coins that are untracable...
Also in future governments could go really hard after people that use anonymous coins...media will make you look like bunch of pedos and terrorists.

[TinEye]

If anonymity is the USP, then it won't go far. Bitshares with TITAN is showing good stealth behaviour. You all would not have missed the Monero drama. Even though some claim there is an exploit not been proved yet.

[toknormal]

So what Drakcoin offers other than anonymity.. i think there will be many services that will provide a sufficiet anonymity.

I don't. That's why I bought Darkcoin. Just look at the number of attempts there's been in the last 6 months - absolutely loads - and they all fail due to politics getting in the way, wrong technological approach, not being "first: whatever. DRK still isn't challenged by more than 30%-40% of its market cap at most and usually by not more than a fifth.

Also in future governments could go really hard after people that use anonymous coins...media will make you look like bunch of pedos and terrorists

They do that anyway whether the blockchain's anonymous or opaque. So if your going to take the flak you might as well be using an opaque blockchain for better privacy.

[illodin]

So what Drakcoin offers other than anonymity..

• enough market cap so you can actually buy and sell enough for most purposes
• drk/usd market at one of the largest exchanges in the world (Bitfinex)
• instant transaction confirmations (under development), this is huge for merchants
• investment opportunities (masternodes, masternode shares, + others still in planning phase)
• lead developer who has committed to full time development for the next 2 years, and is not afraid to innovate and improve the software
• code and security has been reviewed thoroughly by security researcher Kristov Atlas, author of the CoinJoin Sudoku and Anonymous Bitcoin
• first mover advantage - if you've ever heard of one anonymous coin, chances are, it's Darkcoin
• the source is now fully open, so the actual adoption phase can start - Darkcoin already supports features that some merchants absolutely need, like multi-sig, this could allow Darkcoin to scoop whole market segments to itself before others get even started
• probably something else I forgot

i think there will be many services that will provide a sufficiet anonymity..also coins that are untracable...

Probably there will, but Darkcoin is already here and it's the first, so they will be fighting for what's left of the market. And as I said, it's so far ahead that it could very well scoop it all - it is ready and able now, not sometime somewhere in the future.

Also in future governments could go really hard after people that use anonymous coins...

That's one of the points of using an anonymous currency, so you don't have to give a fk what your government goes after or doesn't.

media will make you look like bunch of pedos and terrorists.

I'm as yet undecided whether this is going to be a good or a bad thing. I guess all we can do is try to educate people on the importance of ones privacy, and I believe people have already become more aware of it because of Snowden revelations.

[rangedriver]

So what Drakcoin offers other than anonymity..

• enough market cap so you can actually buy and sell enough for most purposes
• drk/usd market at one of the largest exchanges in the world (Bitfinex)
• instant transaction confirmations (under development), this is huge for merchants
• investment opportunities (masternodes, masternode shares, + others still in planning phase)
• lead developer who has committed to full time development for the next 2 years, and is not afraid to innovate and improve the software
• code and security has been reviewed thoroughly by security researcher Kristov Atlas, author of the CoinJoin Sudoku and Anonymous Bitcoin
• first mover advantage - if you've ever heard of one anonymous coin, chances are, it's Darkcoin
• the source is now fully open, so the actual adoption phase can start - Darkcoin already supports features that some merchants absolutely need, like multi-sig, this could allow Darkcoin to scoop whole market segments to itself before others get even started
• probably something else I forgot

i think there will be many services that will provide a sufficiet anonymity..also coins that are untracable...

Probably there will, but Darkcoin is already here and it's the first, so they will be fighting for what's left of the market. And as I said, it's so far ahead that it could very well scoop it all - it is ready and able now, not sometime somewhere in the future.

Also in future governments could go really hard after people that use anonymous coins...

That's one of the points of using an anonymous currency, so you don't have to give a fk what your government goes after or doesn't.

media will make you look like bunch of pedos and terrorists.

I'm as yet undecided whether this is going to be a good or a bad thing. I guess all we can do is try to educate people on the importance of ones privacy, and I believe people have already become more aware of it because of Snowden revelations.

Not to mention the horrendous instamine.

I can't remember: Is the developer sitting on 50% or 80% of all coins?

[illodin]

Not to mention the horrendous instamine.

It's still mineable. Unlike many PoS coins that were fully mined in a week or two. Without rapid distribution in the beginning, we wouldn't have strong network of 1000 masternodes providing anonymity and investment opportunities at all. The history of the coin has shaped its future - and not for the worse imo.

I can't remember: Is the developer sitting on 50% or 80% of all coins?

This thread stayed civil and troll-free for almost 2 pages. For the record, he's sitting on 50% and I'm on the other 50%.  

[rangedriver]

Not to mention the horrendous instamine.

It's still mineable. Unlike many PoS coins that were fully mined in a week or two. Without rapid distribution in the beginning, we wouldn't have strong network of 1000 masternodes providing anonymity and investment opportunities at all. The history of the coin has shaped its future - and not for the worse imo.

I can't remember: Is the developer sitting on 50% or 80% of all coins?

This thread stayed civil and troll-free for almost 2 pages. For the record, he's sitting on 50% and I'm on the other 50%.  

No dude. Trolls peddle bullshit. It's not trolling if you ask a legitimate question founded on facts that are found in their own FAQ.

[toknormal]

No dude. Trolls peddle bullshit. It's not trolling if you ask a legitimate question founded on facts that are found in their own FAQ.

There was a period of ultra-low difficulty early on in the coin's life where the reward went sky high for a while and too many coins got mined.

I think thats what your referring to.

What about it ?

[rangedriver]

No dude. Trolls peddle bullshit. It's not trolling if you ask a legitimate question founded on facts that are found in their own FAQ.

There was a period of ultra-low difficulty early on in the coin's life where the reward went sky high for a while and too many coins got mined.

I think thats what your referring to.

What about it ?

[toknormal]

There's truth in it alright. It's on the Dev's blog as part of pre-history ! 

The reason it never resulted in a long term issue was:

a) - the low difficulty only lasted a short period
b) - the price was tiddleywinks back then and most of the coins got washed through markets

But I'll give you that - it's a nice piece of "meat" that trolls love to chew on and I'm sure they'll still be doing it even if DRK's still around in 10 years time - "instamien ! instamein !". There you go - a coin for all comers !!

[bitkilo]

While i'm not really into altcoin trading i do own 2 darkcoins   just bought them to try out lightlords trade site.
Darkcoin is interesting to me and although there is a need for annon coins,  gov will crack down on that sort of altcoins hard if they want to support btc in anyway.
I think btc will always be the safe coin to invest in and although i cant find anywhere in melbourne to spend ltc i still think that it has a sort of colt following that wont let the coin fail anytime soon.
Buy bitcoin and just watch the rest.

[rangedriver]

There's truth in it alright. It's on the Dev's blog as part of pre-history ! 

The reason it never resulted in a long term issue was:

a) - the low difficulty only lasted a short period
b) - the price was tiddleywinks back then and most of the coins got washed through markets

But I'll give you that - it's a nice piece of "meat" that trolls love to chew on and I'm sure they'll still be doing it even if DRK's still around in 10 years time - "instamien ! instamein !". There you go - a coin for all comers !!