Why the darkcoin/dash/dashpay instamine matters

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Dash is continuing to mislead investors in its official ANN OP:

And thank you storytellers for continuing to keep us enthralled with the events of 48 hours two years ago.

If you aren't interested in two years ago you might be interested in current misleading, incomplete, and deceptive statements still being used to scam investors:

For example, the current ANN says:

- Dash has no premine and was fairly and transparently launched

LOL.

[iCEBREAKER]

With this evidence alone I am not sure why he is not sitting in jail yet.

It is baffling how Evan and THE DARKCOIN FOUNDATION INC get away with blatantly ignoring/violating all manner of state/federal laws and regulation.

I wonder why Evan doesn't put up a warrant canary, to let his users know if he's acting under duress via a National Security Letter or whatever.

There's a good chance Darkcoin is another one of the FBI's projects wherein they team up with mobsters for a common goal (usually to knock out some from of competition).

IOW, Dash is probably a honeypot being used to promulgate bad crypto, so whichever TLA is shielding Evan from prosecution can monitor various DNMs and unsavory individuals.

[TPTB_need_war]

warrant canary

Thanks for teaching me that term. I'm thinking a national security gag order can also compel the party to continue to spit out the pronouncements that no legal process has been served, because the gag order supercedes due process?

I have also contemplated that sort of conspiratorial angle, because as you say it doesn't make sense that Evan so blatantly snubs his nose to the numerous regulatory laws that he appears to be violating. Then again, perhaps the authorities don't prosecute these until they reach a certain size    Or maybe he just isn't that smart potentially combined with a criminal mindset that discounts/rationalizes away risk. Or maybe we are all hallucinating and wrong. 

Also I've read from a former SEC prosecutor that the SEC doesn't always do its job, and it more or less used only for hatchet jobs on political enemies or enemies of the State's absolute power.

In another case, appears to me that Indiegogo is violating its own Terms of Service and ostensibly securities law in the case of Rimbit.

[adhitthana]

Let's say crypto continues to grow. More and more people get interested and it becomes widespread. It's possible.
If Dash starts to become more widespread rather than it's very narrow following (as is the case with even Bitcoin), then at some stage a journalist will ask for an explanation.

What will Evan say?

Until that happens I'm still bullish on dash, as most of the coins seems to be tied up in MN's so supply is short and having so many nodes is attractive. But I think it may all come unstuck one day

[TPTB_need_war]

Damn Satoshi, that instamine scammer has millions of coins!

Estimated 1 - 5% versus the Dash's insiders 33 - 50% or so...

Satoshi doesn't have a masternode scam to continue to print 33+% of the coins for himself.

[stan.distortion]

Just for the sake of completeness

Damn Satoshi, that instamine scammer has millions of coins! It doesn't matter how many coins Evan mined at the start (and I for one hope he mined a very good number), someone else will end up with a greater percentage of the cap no matter how many and the same goes for Satoshi, that's just how life works, the rich get richer even if someone else gets a head start on them.

Denying that is wishful thinking, the history books prove it over and over. Maybe that's just how things should be, maybe it's a problem that needs fixing, idk, but what I do know is Dash is the only crypto capable of taking on that kind of question and developing on it.

Estimated 1 - 5% versus the Dash's insiders 33 - 50% or so...

Did you pull those numbers from the second or third shelf of your ass?

[TPTB_need_war]

Did you pull those numbers from the second or third shelf of your ass?

Evan hasn't disclosed the precise numbers, but has already made official statements indicating he knows the numbers as I explained upthread when I analyzed his latest official explanation.

We have very strong evidence to believe the Dash insiders have an order-of-magnitude times more percentage of the money supply than Satoshi, and worse yet an ongoing scam to print more coins for themselves.

DDD (aka 3D) is a new communicable disease, Dash Dalmation Deathstar. Just purchase some DRK and pump it publicly to become an accomplice.

(BTC, DASH, XMR and most likely a lot more cryptocurrencies out there)
fall under that "instamine" category.

Fucking liars.

Additionally BTC and XMR don't have a masternode scam to print DRK to hand to insiders who use their instamine to stake masternodes. It doesn't cost anything ongoing to have masternode. It is print-money-out-of-thin-air scam.

You Dash fuckers will never stop lying.

[iCEBREAKER]

Dash's shady instamine is turning former supporters into skeptics.

Famous Bitcoiner Tone Vays made the mistake of giving Duffield the benefit of the doubt by assuming the instamine was an accidental "bug."

Then he got a clue.

https://www.youtube.com/watch?v=6u6aA0vUKOQ&feature=youtu.be&t=3221

https://twitter.com/TuurDemeester/status/717839912980992004 (retweets by Tuur Demeester and Jeff Garzik)




At this point, Dash's "instamine-scam" narrative is set in stone.

Instamine 
Dash 

[TaoOfSaatoshi]

At least you guys are bumping the right thread now! Congratulations on figuring it out. Continue on here, we sure will on our thread. May the facts prevail, gentlemen!

[generalizethis]

At least you guys are bumping the right thread now! Congratulations on figuring it out. Continue on here, we sure will on our thread. May the facts prevail, gentlemen!

Here's the facts I'd like answered by anyone, anyone, in the dash community: How many XMR were mined in the first 24 hours? How many BTC were mined in the first 24 hours? How many dash were mined in the first 24 hours?

Seems that no one in all of dashland knows or is willing to answer.

[TPTB_need_war]

How can money be siphoned off?  Miner fees?

Are you seriously admitting you are blind?

1. Selling the ICO/pre/instamine to you.

2. Using control of a significant portion of the coin supply (and thus perhaps 90+% of the exchange volume float) to buy coins from themselves, set fake bid/ask walls, and otherwise manipulate you into buying high and selling back to them low. Repeat & rinse.

3. Having some "governance" scheme wherein some staked nodes (e.g. Dash masternodes and Bitshares' DPOS delegates) pay out some of the created-out-of-thin-air coins for each block and pay them to the owners of these staked nodes, which are disproportionately those who control the coin supply from #2. And even paying some of these coins to the lead developers via "voted on projects" (and remembering who controls the staked nodes and thus who controls the votes).

[AlexGR]

At this point, Dash's "instamine-scam" narrative is set in stone.

Wanna bet that the "instamine-scam" narrative by the Trollero-FUD Team will change a few times more in the future?

Back in '14 the "instamine-scam" narrative was about the dangers of instamine DUMPing on investors... Like investors would care about the dumping of thousands of coins when there were like another 17-18mn new coins to be issued and "dumped" in the market (as mining supply increases to reach max coins). Duh. But brain-dead is braindead, so can't argue with braindead.

Currently the narrative has shifted to "ohhh instaminers are bad because they are long-term HOLDers... they are incentivized by the evil MN system to HOLD", ahahaha... This stuff is getting better and better.

[TPTB_need_war]

Back in '14 the "instamine-scam" narrative was about the dangers of instamine DUMPing on investors... Like investors would care about the dumping of thousands of coins

Not thousands, but millions.

Investopedia 101 education:

How can money be siphoned off?  Miner fees?

Are you seriously admitting you are blind?

1. Selling the ICO/pre/instamine to you.

2. Using control of a significant portion of the coin supply (and thus perhaps 90+% of the exchange volume float) to buy coins from themselves, set fake bid/ask walls, and otherwise manipulate you into buying high and selling back to them low. Repeat & rinse.

3. Having some "governance" scheme wherein some staked nodes (e.g. Dash masternodes and Bitshares' DPOS delegates) pay out some of the created-out-of-thin-air coins for each block and pay them to the owners of these staked nodes, which are disproportionately those who control the coin supply from #2. And even paying some of these coins to the lead developers via "voted on projects" (and remembering who controls the staked nodes and thus who controls the votes).

Currently the narrative has shifted to "ohhh instaminers are bad because they are long-term HOLDers... they are incentivized by the evil MN system to HOLD", ahahaha... This stuff is getting better and better.

HODLers of masternode stake which pays out up to 50+% per annum ROI, which can be dumped on the market and/or increase masternode control to earn more coins to dump on the market.

AlexGR please upgrade your arguments and logic first before posting. I already wasted far too much time on your trolling nonsense.

[AlexGR]

There is no logic when there is bias... and you know there is bias when there is a "problem" in every possible eventuality.

Holders dump = darkcoin is a scam because of dumpers 
Holders hold = darkcoin is a scam because of holders 
Holders redistribute coins = darkcoin is a scam because there is knowledge of who sold what   
Price goes down = darkcoin is a scam because people "lose money" 
Price goes up = darkcoin is a scam because it's a pump/scam scheme 

Scam scam scam everywhere...

[generalizethis]

There is no logic when there is bias... and you know there is bias when there is a "problem" in every possible eventuality.

Holders dump = darkcoin is a scam because of dumpers 
Holders hold = darkcoin is a scam because of holders 
Holders redistribute coins = darkcoin is a scam because there is knowledge of who sold what   
Price goes down = darkcoin is a scam because people "lose money" 
Price goes up = darkcoin is a scam because it's a pump/scam scheme 

Scam scam scam everywhere...

This isn't that complicated. It's a scam because they claim a decentralized governance system and "no premine, fairly and transparently launched" You wanna tell me with how many coins were mined and how the launch played out, how either of those things can be true? I guess, you could say the coins were redistributed, but that can't be verified, and due to the launch, it would have to be for anyone but the most gullible and naïve among us.

[AlexGR]

I guess, you could say the coins were redistributed, but that can't be verified

Not sure if serious

https://bitinfocharts.com/visualization/Darkcoin-7439x2976.png

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At this point, Dash's "instamine-scam" narrative is set in stone.

Wanna bet that the "instamine-scam" narrative by the Trollero-FUD Team will change a few times more in the future?

The scam changes because facts on the ground change. In addition to new disclosures about past events, there are new instances of active scamming. For example, the Dash thread used to merely claim "NO PREMINE" which while a half-truth, arguably might be not outright false. Now it has been edited and also claims "fairly and transparently launched" which is clear falsehood. Likewise, the "Darkcoin FAQ" making unsupportable statements such the instamine coins being distributed by the market used to be a community document but is now an "Official Communication", again upping the ante on misleading investors.

[smooth]

I guess, you could say the coins were redistributed, but that can't be verified

Not sure if serious

https://bitinfocharts.com/visualization/Darkcoin-7439x2976.png

Please label that chart to show ownership of addresses. In addition to normal address churn, change addresses, purposeful obfuscating (including but not limited to use of Darksend), etc, the masternode system in particular causes massive movement of coins because it requires that each mansternode have its own address even with the same owner. Diagrams showing movement of coins between addresses, richlists, etc. are not evidence of distribution and in falsely claiming they are, you are continuing to mislead and defraud investors.

[generalizethis]

I guess, you could say the coins were redistributed, but that can't be verified

Not sure if serious

https://bitinfocharts.com/visualization/Darkcoin-7439x2976.png

....the most gullible and naïve among us.

So, you can verify that those aren't people selling to themselves or moving coins between their own wallets? Again, given the circumstances of the launch, you'd have to verify against manipulation. Be gullible and naïve on your own time.

[AlexGR]

So, you can verify that those aren't people selling to themselves?

If I say yes it won't matter. You have made up your mind (as a biased monero investor who perceives darkcoin as a threat to their investment).