What if Darkcoin and XC teamed up, with DRK being part of Blocknet?
Something like that would be really detrimental to the Darkcoin brand and image at this point. Maybe if later on it actually exists, is open source and adds value in a meaningful way. There is no clear business model for that they are planning to collect money from people 2500BTC as I understand, that is scary, how are investors going see a return? Trusting people with money for an idea that may or may not work or become a reality is a big part of the crypto world problem.
Buying coins is the way to support a project you hold your asset immediately, ITOs are a bad idea in an unregulated market. Volunteering and open source development is the only way to show transparency to investors and build trust.
How long did it take for Drk to go opensource? When it went open, wasn't there a pretty big exploit found? Its already been said that Blocknet will be opensource.
Most people are familiar with Supernet. Both projects are similar so lets compare Blocknet to Supernet. There are some big key differences.
Supernet raised something like 5700+/- btc for their ICO and they require 10% of the supported coins. Blocknet is only looking to raise 2500btc at the most and will destroy anything not sold. Coins join for free. They do not require 10% of DRK if DRK chooses to join. Blocknet is not using a central currency like Supernet's BitcoinDark. Participating coins work with each other directly. XBridge is not an RPC call protocol, it's a true P2P protocol. Blocknet is suppose to be truly decentralized.
Also, Blocknet is not just XC. Dan from XC proposed it and I guess you could say he is heading the project but its not just XC like everyone tries to make it. Its an open project between participating coins. All the devs will be working on it and towards the overall goals.
That's some of the big difference. If it all comes together. It could be pretty cool. If not, there will be plenty of you ready to attack so I'm sure they'll pull it together.
I have thought about the blocknet maybe for a total of 10 minutes, and the insurmountable obstacle it has, is how is the issue of slippage when transferring money from one currency to another and back in the blocknet exchange going to be solved? And imo, it can't be solved without totally sacrificing usability (very slow transaction times and accepting currency risk) or anonymity.
I think supernet is trying to solve this by having 10% of each participating currency owned by the supernet itself, so it should have liquidity for the trades. I'm not sure about this though, the 10% requirement could be for something else.
This does seem to be of no concern to anyone else talking about blocknet though, large holders of the participating coins are just seeing this as a chance to exit as they can't dump huge percentage of a small marketcap coin but they can buy blocknet ITO tokens with their coins instead and dump those tokens for BTC easier.
