Darkcoin aka DASH - The biggest ongoing SCAM in crypto

[fluffypony]

Last I heard Monero developer FluffyPony is on Vacation because of a sickness he has, funny thing is it didn't matter because I c no different anyway for a 1.5 years so far LOL.

That's news to me...what sickness do I have? Let me know so I can tell my doctor.

Perhaps you're thinking of this: https://www.youtube.com/watch?v=09LTT0xwdfw

[smoothie]

Last I heard Monero developer FluffyPony is on Vacation because of a sickness he has, funny thing is it didn't matter because I c no different anyway for a 1.5 years so far LOL.

That's news to me...what sickness do I have? Let me know so I can tell my doctor.

Perhaps you're thinking of this: https://www.youtube.com/watch?v=09LTT0xwdfw

Perhaps your sickness is you're too Fluffy. 

[AdamWhite]

So the Dashtards want this thread removed from Google search results... shocking  

Maybe its time for Evan or Tungfa to start cleaning up some of the Google search results :



If you look at Google's Search History removal policies we have room to manouvre i think :

https://support.google.com/websearch/answer/2744324?hl=en

Removal Policies


We want to organize the world’s information and make it universally accessible, but there are a few instances where we will remove content from Search.

Legal Removals

We remove content from our search results if it includes:
•Child sexual abuse imagery
•We also remove content in response to valid legal requests, such as copyright notifications that meet the requirements of the Digital Millennium Copyright Act

Maybe we can ask the Dash foundation (who is helping Dash on legal areas) for legal advice on how to take appropriate action ?
What should be removed when using google search with these two reference words "dash crypto" is :

anything with SCAM in it --> directly attacks the reputation of Dash
anything that links it to Dashcoin --> causes confusion for those people explicitly searching for Dash and not Dashcoin  

[smoothie]

this deserves to be reposted here:

Regarding XCoin/DarkCoin/Dash's "instamine":

The plain and simple fact is that big hash on a new coin always causes trouble when the difficulty adjustment only occurs over very large block intervals and when that difficulty adjustment has a limited maximum multiplier per interval.

Litecoins launch had similar difficulty readjustment issues with similar minting results.



There is no scam here, only inherited bad models.

Wrong. Here is the math below for a apples to apples comparison of mintage vs time:

Litecoin current supply - 42,681,260 LTC

In the first 24 hours   504,650 LTC were mined
Block #10092          2011-10-14 03:08:59
LINK: http://explorer.litecoin.net/chain/Litecoin?hi=12095&count=2016
block link: http://explorer.litecoin.net/block/fca5b3100fe457c1642c914c45214b4860aacd265d8bfd1e4af0004fd89a9032


After 1 year 9 months later -  19,398,754  LTC were mined  
block #387,985
DATE & TIME - 2013-07-13 12:53:54
link: http://explorer.litecoin.net/chain/Litecoin?hi=390000&count=2016

504,650 / 19,398,754 = 0.02601455742982 OR 2.6% of supply


block link: http://explorer.litecoin.net/block/37c6b847bd3d433247cff941ed874786487715ff4fff9c2977bf273d1c967965


Dash current supply - 5,882,880 (~1 year 9 months)

1,625,000 DASH was mined in first 8 hours

1,625,000 DASH / 5,822,880 = 0.27622525021758 OR 27.62% of supply


link: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins#monero

Darkcoin
   ▪   derived from Quark
   ▪   type of algorithm: blake, bmw, groestl, keccak, jh, stein
   ▪   PoW and PoS
The following data and time stamps were collected from the Darkcoin blockchain 37).
   ▪   Block 1: 2014-01-19 Time: 3:54:41
   ▪   Block 1000 : 2014-01-19 Time: 4:33:39
   ▪   Block 2000: 2014-01-19 Time: 06:25:47
   ▪   Block 3000: 2014-01-19 Time: 09:10:16
   ▪   Block 3250: 2014-01-19 Time: 11:22:11
Looking at this data, we see that Darkcoin was mined with 500 DRK generated per block from the get go. From block 1 to at least block 3250, according to their blockchain, they were still producing 500 coins each block. The transition from 500 to 277 coins per block occurs between 3250 and 3500 but this author did not see the necessity of getting the exact moment of halving. Simple math shows that 3250 blocks multiplied by 500 coins a block is 1,625,000 Darkcoins created between the times of 3:54 and 11:22 on January 19th, 2014. As of today there are around 4,300,000 DRK in existence, making this a pretty hefty instamine. The Darkcoin website expects around 22,000,000 DRK to be created. That means in less than 8 hours, almost 5% of the Darkcoins that ever will be created spawned in that 1/3 of a day. It's safe to say Darkcoin has left it's investors in the dark on this one.

More than 10 TIMES the amount of current supply (as a % comparison) was put into circulation in the first 8 hours than what was mined in the first 24 hours of litecoin's launch.

Hardly a comparable equivalent to use as an analogy. Laughable at best.

[generalizethis]

They are so scared of people finding out the truth that they keep deleting this from their wiki page,  "The instamine was ~500,000 in first hour, ~1,500,000 in first 8 hours. http://dashdot.io/alpha/wp-content/uploads/2015/05/image18.png"

But no one cares about the instamine 

[smoothie]

They are so scared of people finding out the truth that they keep deleting this from their wiki page,  "The instamine was ~500,000 in first hour, ~1,500,000 in first 8 hours. http://dashdot.io/alpha/wp-content/uploads/2015/05/image18.png"

But no one cares about the instamine 

I find it funny that if it is a "feature" as Evan likes to sell/spin it as, why not plaster "DASH is INSTAMINED" all over their thread and website/forum?

Them deleting that just says that some of them realize they dont want people to know about the instamine.

Evan should be wearing a shirt that says "Yes bitch, I instamined dash like a mofo and I am proud of it"

[traumschiff]

I have no opinions on DASH or their faults/mistakes and no opinions on XMR's potential faults or mistakes, but it is kind of sad to see another XMR supporter open the 22nd DASH hate thread while they also post frequently in DASH's own thread and being followed up by the well-known part of the XMR's community. DASH seems to be releasing features and being developed constantly, doesn't matter what your opinion is on their features or if they seem useful for you as an individual. I doubt that the aim of this is to dump on new investors, thus the hating has no efficiency other than to make your community and the whole forum/scene less appealing as an investment.

Everyone knows about the instamine already, eduff admitted to it in one of the threads not long ago if I recall correctly and there is rarely new money/inflow on this forum and scene (no new coins released, low volumes etc.) so there is literally no point in another new thread.

[smoothie]

I have no opinions on DASH or their faults/mistakes and no opinions on XMR's potential faults or mistakes, but it is kind of sad to see another XMR supporter open the 22nd DASH hate thread while they also post frequently in DASH's own thread and being followed up by the well-known part of the XMR's community. DASH seems to be releasing features and being developed constantly, doesn't matter what your opinion is on their features or if they seem useful for you as an individual. I doubt that the aim of this is to dump on new investors, thus the hating has no efficiency other than to make your community and the whole forum/scene less appealing as an investment.

Everyone knows about the instamine already, eduff admitted to it in one of the threads not long ago if I recall correctly and there is rarely new money/inflow on this forum and scene (no new coins released, low volumes etc.) so there is literally no point in another new thread.

So exposing possible fraud is hate and inefficient and less appealing?

Sorry but if I used your thinking back when solidcoin was doing its "thing" of "developing" and "innovating" many people would have lost a lot of money.

Sorry, but I disagree with you.

Let's leave the absolute statements at the door that "everyone" knows about the instamine.

New users come to this forum everyday and thus your preposition is flawed as everyone will not know unless the entire planet knows.

Evan admitted the instamine was a "feature" and that he takes full responsibility but when I called him out on holding himself responsible he ignored it. Nowhere does dash have "instamine" advertised on their thread, forum, website.

It is swept under the rug and is a topic that is avoided daily as much as possible to make Dash appear to be legit.

[smooth]

this deserves to be reposted here:

As does this follow up:

Considering xcoins max block subsidy was 500 and litecoins was 50 that makes sense.

The difficulty algorithm "int64 nSubsidy = (1111 / (pow((dDiff+1),2)))" would have clamped that down but the difficulty didn't raise fast enough (see point #1) to restrict total minting to more reasonable levels.

These are the facts. Code doesn't lie.

What you are missing is that:

1. Xcoin was specified to adjust difficulty every 60 minutes (12 5-minute blocks), and barring any other issue this would have slowed down mining reasonably quickly, as you said.

2. However, without explanation, the code that was actually released adjusted difficulty only once every 576 blocks, 48 times more slowly.

3. Xcoin also had a "bug" that greatly increased the amount of coins per block. It should have started at 100, not 500, and once the difficulty started to increase, it should have dropped lower still, not stayed at 500. This was not fixed until block 4500.

4. Subsequent supply cuts reduced the per-block reward to the current 3, which is <1/166 of the reward in most of the first 4500 blocks. By contrast LTC only recently reduced its per-block reward to 1/2 of the reward in the initial blocks.

These are the main reasons that the instamine ended up being so enormous, especially relative to the current supply, not the normal ramp up of difficulty that causes a very small instamine in most normal cases.

It's not an analogy. It's a flaw that many, many coins share. Xcoin was not unique in this regard.

Okay maybe not unique, but the scale of it is vastly larger in the case of Dash, and Dash had additional factors contributing to its instamine in addition to normal difficulty adjustment lag, wouldn't you agree?


References:

Is it me or difficulty is stuck at 1.00 for the last 2 hours? The network is around 100Mh/s, and we are solving blocks faster than every 5 minutes, shouldn't diff be higher?

I notice this too.  Why isn't diff increasing?

- 5 minute block target
- 6 Confirms per transaction
- Difficulty re-targets every 60 minutes
- Block reward controlled by moores law ( 1111 / (diff+1 ^ 2))

Block reward controlled by moores law ( 1111 / (diff+1 ^ 2))


( 1111 / (0.005+1 ^ 2)) = 92.54477301

( 1111 / (1.00001+1 ^ 2)) = 85.46147272

( 1111 / (3.44635085+1 ^ 2)) = 71.92637347

( 1111 / (5.44+1 ^ 2)) = 63.70412844

The block rewards should have start close to 100 coins per block and should have gotten smaller each time the difficulty goes up and the reward should increase as the difficulty goes down.

Difficulty just changed to 3.44635085, block reward is now: 1111 / (1 + 3.44635085)^2 = 56.1961549627. I guess there is little point in solo mining now.

If the block reward was supposed to be 56.1961549627, why is it showing 500 in both mining pools.....

I confirm that block reward with current difficulty is again 500, this is weird.

Everyone using the linux based version please update your source from GitHub! I fixed the code that is causing the strange block rewards and it goes active at block 4500! If you do not upgrade you'll be left behind!

Just update from GitHub here: https://github.com/evan82/xcoin

[smooth]

so there is literally no point in another new thread.

Actually this is not another new thread, it is an old one. Looks like a Dash supporter bumped it here.

I have no idea why a Dash supporter though that was a good idea.

[traumschiff]

so there is literally no point in another new thread.

Actually this is not another new thread, it is an old one. Looks like a Dash supporter bumped it here.

I have no idea why a Dash supporter though that was a good idea.

My bad, only seen it appear now for the first time and saw a low number of pages thus I thought it's new.

Point still stands though, you always see the same well-known XMR community members in these threads, same goes for spamming the DASH thread (I used to read it because I'm interested in the developments). No one else seems to care and that's probably not because they are stupid/dumb/didn't know, but because DASH seems to make progress. After a time it just gets sad to watch.

[smoothie]

so there is literally no point in another new thread.

Actually this is not another new thread, it is an old one. Looks like a Dash supporter bumped it here.

I have no idea why a Dash supporter though that was a good idea.

My bad, only seen it appear now for the first time and saw a low number of pages thus I thought it's new.

Point still stands though, you always see the same well-known XMR community members in these threads, same goes for spamming the DASH thread (I used to read it because I'm interested in the developments). No one else seems to care and that's probably not because they are stupid/dumb/didn't know, but because DASH seems to make progress. After a time it just gets sad to watch.

Just because the discussion appears to you as going in circles does not mean that it is for others or "everyone".

When I post, I try my best not to spam. If I repost something I do it in very specific occurrences where I believe it is relevant.

Spamming VS. discussing a specific topic with many different users is not one in the same.

[rangedriver]

so there is literally no point in another new thread.

Actually this is not another new thread, it is an old one. Looks like a Dash supporter bumped it here.

I have no idea why a Dash supporter though that was a good idea.

My bad, only seen it appear now for the first time and saw a low number of pages thus I thought it's new.

Point still stands though, you always see the same well-known XMR community members in these threads, same goes for spamming the DASH thread (I used to read it because I'm interested in the developments). No one else seems to care and that's probably not because they are stupid/dumb/didn't know, but because DASH seems to make progress. After a time it just gets sad to watch.

This is largely the problem right here. You say you don't have an opinion on Dash's strengths/weaknesses. You say you don't have an opinion on XMR's strengths/weaknesses. You say that Dash seems to make progress.

Kind of a mixed bag of contradictory perspectives and uncertainties there.

This is the reason why people get annoyed with Dash. You can't wave the flag of ignorance and then exclaim that the world is conspiring against you hatefully.

True, the stigma of the Dash community being intellectually challenged is somewhat unfair, and I can sympathise that a lot of Dash holders are simply below their break-even point and thus have no choice but to try to defend their actions and that of the coin's technology. I get that.

I've also heard it said that Dash is kind of like North Korea in the sense that the technology is crap, the concept is deeply flawed, is socially something of a ghost town, waves a disingenuous flag in the name of revolution and progress, while the ignorant skeleton community panders to the self-serving egoistic appetite of thy great leader. Again while that may all be 100% true, it is obviously unfair to those who have demonstrably reached a point of stupidity that far extends beyond any acceptable point of justifiable humiliation.

In truth, and as has been stated many times before, it is always, always, always, the right thing to do to point out when something is very shit. And indeed, Dash is very very very shit.

If it wasn't shit, we'd all be waving the Dash flag together. Simple as that.

[smooth]

Chaincoin                       11 hash (Blake, BMW, Grøstl, JH, Keccak, Skein, Luffa, Cubehash, SHAvite, SIMD, Echo)
XCoin (Darkcoin, Dash) 11 hash (Blake, BMW, Grøstl, Skein, JH, Keccak, Luffa, Cubehash, SHAvite, SIMD, Echo)

So the 'inventor' of X11 changed the position of one hash function in the chain?

I knew it was hyped but I had no idea it was so overly hyped.

[smoothie]

This "chaining" nonsense is just a fade. The original coin died long ago and most others just hang on.

Correct order of chained coins by block 0 (genesis) date-stamp:

Sifcoin                              6 hash (Blake, BMW, Groestl, JH, Keccak, Skein)
Quark                               9 hash, 3 random (Blake, BMW, Grøstl|Skein, Grøstl, JH, Blake|BMW, Keccak, Skein, Keccak|JH)  
Qubitcoin                          5 hash                                                                  (Luffa, Cubehash, SHAvite, SIMD, Echo)
Chaincoin                       11 hash (Blake, BMW, Grøstl, JH, Keccak, Skein, Luffa, Cubehash, SHAvite, SIMD, Echo)
XCoin (Darkcoin, Dash) 11 hash (Blake, BMW, Grøstl, Skein, JH, Keccak, Luffa, Cubehash, SHAvite, SIMD, Echo)
......
Dash the "inventor" of x11,the only invention is to change the order (Skein 2 forward), and instamine the shit out of it.

Sifcoin 2013-06-23
Qubitcoin
Chaincoin   Block 0  2014-01-18 20:50:20
XCoin (Darkcoin, Dash) Block 0 2014-01-19 01:40:18






Development of difficulty (currently the lowest since May 15 2014):

ROFL thanks for the laugh. 

[generalizethis]

so there is literally no point in another new thread.

Actually this is not another new thread, it is an old one. Looks like a Dash supporter bumped it here.

I have no idea why a Dash supporter though that was a good idea.

My bad, only seen it appear now for the first time and saw a low number of pages thus I thought it's new.

Point still stands though, you always see the same well-known XMR community members in these threads, same goes for spamming the DASH thread (I used to read it because I'm interested in the developments). No one else seems to care and that's probably not because they are stupid/dumb/didn't know, but because DASH seems to make progress. After a time it just gets sad to watch.

Then why is someone deleting the numbers from the instamine from the dash wiki everyday--pretty certain that it isn't a Monero supporter deleting it. And why hasn't anyone put the instamine^tm logo next to the no premine^tm logo if Evan is so proud of his happy accident?

I'll give you a hint: no premine is to lure people who don't want to be scammed, or take part in a disingenuous launch, into a false sense of security. "No premine. That must mean it was fairly launched and doesn't suffer from the usual shenanigans of con artists posing as the next Steve Jobs. Right?" Think again, investor. And by the time you figure it out, you'll be neck deep in Evan's instamined coins.

[toknormal]

Wow. And they say the Dash thread is a circle jerk ? When your own coin's going down the toilet it sure does wonders for camaraderie.

Don't stop chewing on that "instamine" bone. Need to keep those teeth sharp for when the meat course arrives 

[smoothie]

so there is literally no point in another new thread.

Actually this is not another new thread, it is an old one. Looks like a Dash supporter bumped it here.

I have no idea why a Dash supporter though that was a good idea.

My bad, only seen it appear now for the first time and saw a low number of pages thus I thought it's new.

Point still stands though, you always see the same well-known XMR community members in these threads, same goes for spamming the DASH thread (I used to read it because I'm interested in the developments). No one else seems to care and that's probably not because they are stupid/dumb/didn't know, but because DASH seems to make progress. After a time it just gets sad to watch.

Then why is someone deleting the numbers from the instamine from the dash wiki everyday--pretty certain that it isn't a Monero supporter deleting it. And why hasn't anyone put the instamine^tm logo next to the no premine^tm logo if Evan is so proud of his happy accident?

I'll give you a hint: no premine is to lure people who don't want to be scammed, or take part in a disingenuous launch, into a false sense of security. "No premine. That must mean it was fairly launched and doesn't suffer from the usual shenanigans of con artists posing as the next Steve Jobs. Right?" Think again, investor. And by the time you figure it out, you'll be neck deep in Evan's instamined coins.

Exactly my idea, selling point is "No Premine" yet won't put the instamine comment or tag anywhere visible.

But evan says "I take full responsibility for the instamine"....yet does nothing to back up his statement.

Empty words from a snake oil salesman. Not surprising.

[traumschiff]

so there is literally no point in another new thread.

Actually this is not another new thread, it is an old one. Looks like a Dash supporter bumped it here.

I have no idea why a Dash supporter though that was a good idea.

My bad, only seen it appear now for the first time and saw a low number of pages thus I thought it's new.

Point still stands though, you always see the same well-known XMR community members in these threads, same goes for spamming the DASH thread (I used to read it because I'm interested in the developments). No one else seems to care and that's probably not because they are stupid/dumb/didn't know, but because DASH seems to make progress. After a time it just gets sad to watch.

Then why is someone deleting the numbers from the instamine from the dash wiki everyday--pretty certain that it isn't a Monero supporter deleting it. And why hasn't anyone put the instamine^tm logo next to the no premine^tm logo if Evan is so proud of his happy accident?

I'll give you a hint: no premine is to lure people who don't want to be scammed, or take part in a disingenuous launch, into a false sense of security. "No premine. That must mean it was fairly launched and doesn't suffer from the usual shenanigans of con artists posing as the next Steve Jobs. Right?" Think again, investor. And by the time you figure it out, you'll be neck deep in Evan's instamined coins.

I fully agree that something along the lines of "there was an accidental instamine in the first X hours with X coins because of an error in the code", but my point still stands, it's generally the XMR community bashing DASH in several (tons) of threads including DASH's own and some of the comments can be easily categorized as spam or insulting. Some of their ideas may be flawed and the codebase of Bitcoin imho isn't modern anymore after several years, but I doubt they do it to dump on newcomers, atleast it doesn't seem like it (for me).

Also as it seems one of the most frequent visitor of the DASH thread iCEBREAKER was involved heavily in the HashFast scam. I don't remember him being so open minded vs scams while he was working there.

PS. I don't own a single DASH and probably won't in the future.

[generalizethis]

so there is literally no point in another new thread.

Actually this is not another new thread, it is an old one. Looks like a Dash supporter bumped it here.

I have no idea why a Dash supporter though that was a good idea.

My bad, only seen it appear now for the first time and saw a low number of pages thus I thought it's new.

Point still stands though, you always see the same well-known XMR community members in these threads, same goes for spamming the DASH thread (I used to read it because I'm interested in the developments). No one else seems to care and that's probably not because they are stupid/dumb/didn't know, but because DASH seems to make progress. After a time it just gets sad to watch.

Then why is someone deleting the numbers from the instamine from the dash wiki everyday--pretty certain that it isn't a Monero supporter deleting it. And why hasn't anyone put the instamine^tm logo next to the no premine^tm logo if Evan is so proud of his happy accident?

I'll give you a hint: no premine is to lure people who don't want to be scammed, or take part in a disingenuous launch, into a false sense of security. "No premine. That must mean it was fairly launched and doesn't suffer from the usual shenanigans of con artists posing as the next Steve Jobs. Right?" Think again, investor. And by the time you figure it out, you'll be neck deep in Evan's instamined coins.

I fully agree that something along the lines of "there was an accidental instamine in the first X hours with X coins because of an error in the code", but my point still stands, it's generally the XMR community bashing DASH in several (tons) of threads including DASH's own and some of the comments can be easily categorized as spam or insulting. Some of their ideas may be flawed and the codebase of Bitcoin imho isn't modern anymore after several years, but I doubt they do it to dump on newcomers, atleast it doesn't seem like it (for me).

Also as it seems one of the most frequent visitor of the DASH thread iCEBREAKER was involved heavily in the HashFast scam. I don't remember him being so open minded vs scams while he was working there.

PS. I don't own a single DASH and probably won't in the future.

That's fair. My main problem with dash is the false advertising. Masternodes are terrible for privacy and no one should be advertising a coin that uses them as anonymous or private. And the no premine when their is an undisputed instamine is misleading and playing fast and loose with semantics.

If those two points were that point was removed from the dash media, I wouldn't bother pissing on their parade of false information. I'm guessing I'm not alone in this mindset.

*Thanks to Smooth pointing out that dash media finally has removed "no premine" from its media.