Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 3364. (Read 9723787 times)

Banks in Australia have just announced they are spending Billions on a new real time payments platform...

Maybe they have seen InstantX and decided it was time to stay ahead of the competition...

Evan, did you want to change the world finance when you were a young man?  Cause you just might be doing it now... 

good point !!

I signed up for lifetime membership , even though I can not really afford it in the moment
but I see it more as a donation to DRK and us !
we need Dev help and that costs money/ coins , even though we have a strong Dev Team now there are for sure products (iPhone wallet) and jobs which can and should be outsourced (video production, ...)

so see it as a X Mas present / donation to all of us and it is easy
to lash out 100 DRK !
imagine we all do it !! we gonna get DRK up on speed in trouble time !
let's do it !!! ....>>

DRK price has been so stable since November 18th - like a straight line almost on bitcoinwisdom......

That was a good healthy discussion, I enjoyed reading all the responses.

I'm also enjoying how many people are becoming lifetime members of the Darkcoin foundation then announcing it with pride 

Can't tell if you are being serious.  He can always discuss it on DCT (again).

On another note, quickly approaching 1,400 MNs.  After having some delayed payment issues, I'm getting regular (some even more frequent than expected) payments. 

There's no fee besides what you'd pay the miner in a transaction fee.

Give the quote or STFU

I think it's all relative given that no matter what we want items will be priced in fiat for the foreseeable future. That being said, for new users who want to purchase something that may cost 5 dollars, they will buy 5 dollars worth of drk regardless of how much dark that gives them as it's just a means to an end.

For those who want to hoard drk, then I guess the same can be said about any digital currency. I should have bought more bitcoin when it was at 28.00 but I didn't now I have to buy it as 300+. So the currency is out of circulation whether its in a masternode or a wallet or "bag."

I think the best way to look at Darkcoin is just the same as any other currency... And just like any other currency/economy the theories are the same...

Looking at the Masternode issue where 1000DRK x 1350 = 1,350,000DRK has effectively been taken out of circulation you have to think of it like the same £ or $ being locked up in bank deposits or bonds in the fiat economy. It's all capital, whether it's £ $ or DRK and capital will flow to where it gets the greatest return. In fiat, this return can be interest bearing deposits, Bonds, Stocks or Property. In DRK, we have such a young economy that many of the functions such as banking (to create interest bearing deposits/loans), bonds, stocks don't exist yet... However, one function that has been created that solves some of the problems that banks do in the fiat economy is the masternode function. Masternodes provide a utility service to the DRK economy, this supports the economy and secures the capital. In return, operators get 'interest' on their 1000DRK investment and this is very similar to the basic capital/interest function of the fiat economy. Capital in the fiat economy only has value if it can generate surplus interest/profit. DRK capital will be subject to the same forces of economics. How this will unfold in the new Crypto economy is unsure but to answer your original question...

Every 1DRK that is taken out of general circulation in order to receive 'interest' on a masternode investment is only out of circulation for the duration that the owner of the 1DRK of capital would prefer to earn 'interest' on that capital, rather than exchange it for other goods or services. This is no different to the fiat economy. 1DRK of capital that is 'saved/invested' is not necessarily 1DRK of capital that is destroyed or removed from the economy. It's just deployed in that chosen way by the capital owner until such time that they wish to utilise the 1DRK of capital in a different way... Whether that's to exchange it for goods/services/gamble/invest in other opportunities.

It is the beauty of true free market capitalism. Capital will flow to where it has best utility. IF that means that 2million DRK are stored in Masternodes then the market has decided that this is the best way to deploy the capital at this time. There is nothing wrong with this, nor will it cause DRK a problem.

It's what Adam Smith called 'the invisible hand' http://en.wikipedia.org/wiki/Invisible_hand

Hope this helps spark debate and intrest if nothing else...!  

Walter

That ain't no storm. Its called a tempest!

We have quite interesting discussion on polish bitcoin.pl thread
Are you polish speaker? Come and join.
https://forum.bitcoin.pl/viewtopic.php?f=45&t=15970&start=200

eduffield what will be the cost of the instant transation?

i had to shut down my wallet overnight but i'm firing it up again. it only took about 10 minutes to complete 2 rounds but then it got stuck at 96% for about 6-7 hours yesterday. we'll see how long it takes to complete the last 4%.
i just started it again and says it has been "submitted to the masternode, waiting in queue", then it goes back to "darksend is idle" and repeats.

In this fake world, if it got to that point where people are transacting primarily in duffs, Evan would create a new denomination to work for what would presently be the newly transacted fractions.

Let's not overhype ourselves with the '21,000,000,000,000,000 units' claim.

First, it's wrong by a factor of 10. 21e+6 DRK * 100e+6 duffs/DRK = 2.1e+15 duffs. That 2.1 quadrillion duffs, NOT 21 quadrillion.

Second, under the current architecture, the total number of anonymizable units is 210,000,000. (21,000,000 DRK / 0.1 DRK per anon address). So the anonymous coin divisibility stops at 0.1 DRK, not 0.00000001 DRK.
  
Let's keep it down to Earth, please.

I really don't think you have much to contribute to a darkcoin paper if you don't intuitively understand what's pretty much basic market forces. I mean you're taking something simple and just saying "but what if all this stuff that is, actually isn't".

It's an impractical scenario as is so just talking about it is stupid in itself. At present moment, there aren't enough 1k block holders to allow the supply to be all tied up in masternodes.

Soon.. 

It went from alpha-use-at-your-own-risk to not-working-don't-even-bother-trying a few point releases ago. Forget about it until it's properly implemented.

Our, human ability to find ingenious solutions - and I don't mean this to be disparaging, on the contrary - is a fantastic feature. Tao's 21,000,000,000,000,000 units and your semantic distinction in between "locked up" and "reserved" are examples of it. So, my hypothetical situation that was based on a scenario in which coins are "reserved" i.e. not readily, freely available to purchase on the market unless someone liquidates her or his MN, might not be a feasible scenario at all. Economic forces should take care of it - only that we never before had a situation in which one asset class, the number of its units,  is precisely defined by mathematics. (one can calculate to the duff, how many coins are going to be in circulation 274 days or 3 years from today) Such uncharted territory must have some dangers hidden in it, not only on the arcane (for a n00b like me) side of Sybil attacks and what not, but on the economic side of it.

I also do worry about more normal circumstances, in which majority of the coins are not freely available on the market and as such, might create a liquidity problem. This is an age old issue in all the asset markets and not something one should dismiss only because a new market / asset class as Darkcoin / has not encountered any similar problems yet.

However, as a true Darkcoin believer I am indeed inclined to take oblox's view, that my argument is "stupid," as correct, but I will monitor all the statistics that I monitor already anyway, just in case

looks like you`ve added one already