[ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 4028.

TanteStefana2

legendary

Activity: 1260

Merit: 1001

Quote from: JGCMiner on September 19, 2014, 10:32:24 AM

Quote from: naxin on September 19, 2014, 10:20:43 AM

Quote from: eduffield on September 19, 2014, 10:12:56 AM

We're trending on r/Bitcoin, anyone care to answer them?

http://www.reddit.com/r/Bitcoin/comments/2gv44m/darkcoin_i_just_solved_one_of_the_largest/

Unfortunately you're not going to get much love there - altcoins get downvoted to hell regardless of content.

And it's hard to blame them - the fact is a majority of altcoins are essentially a scam. Darkcoin is one of a few if not the only that in my mind is not a scam or pump and dump or shitcoin or what have you.

So I'm not quite sure how to change perception enough to even get people to read the paper before criticizing it - but as a community we probably should think/talk about it - because that will be our next growth hurdle: getting mainstream cryptocurrency attention as something more than a shitcoin.

Change happens slowly. In 2009 Bitcoin was a "shitcoin scam" as well.

First produce the tech, then push the PR, and then slowly people will look more closely and see how much DRK really has to offer. However for the time being, as you say, jumping right in r/bitcoin especially now that they are agitated over the recent dump is asking to get eating by one of those dinosaurs.

Yes, but on the other hand, we kind of have to let people know. For DRK's sake and for theirs. We want DRK to be widely adopted, and we can't hide in our little bubble or else we'll suffocate in our little bubble. Even if people say nasty things, when they actually look at the evidence, they will have been fairly warned and then they can not complain if they don't hop on board.

fernando

hero member

Activity: 560

Merit: 500

Quote from: TanteStefana2 on September 19, 2014, 10:46:34 AM

Quote from: tungfa on September 19, 2014, 09:07:56 AM

Evan's Paper:
https://www.darkcoin.io/downloads/InstantTX.pdf

Can i please get a "translation" into simple dummy wording
what this paper means ?!
I understand instant transactions,
but what ... using the Masternode (1000 each) as a collateral for the purchases made,
to speed up the transactions ?! Proof of Work ?
....>
Tx

Wow, I just finished reading.... um, let me try...

when a person wants to spend coins, they tell everyone (broadcast) and put a lock on the fund in their wallet. The current group of masternodes receives this information, and when they all verify the same information (validate it), they let all the other clients on the network know it is so. This takes only seconds and the coins are then considered "cleared"

If the person spending the money tries to send conflicting information (tries to spend the coin twice, by paying himself the same coins= double spending attack, which they could code into their wallet so it happens really fast) the conflicting information will cause the masternodes to reject the lock, and the coins spent will have to wait to go through the mining process to be validated. (one will be accepted, the other rejected as it is done currently) This will also happen if one of the masternodes that were elected to do the work ends up losing connection (or tries to pull something).

This makes 3 types of attacks virtually impossible to commit.

Wow

Great explanation! But in fact it is a bit better than that:

If someone tries to double spend by trying to send two conflicting transactions, only one will be deemed valid by the current group of masternodes and the lock will be in place. That transaction will later be mined, but it is already valid because the miners will check the lock. The one without the valid lock will never get into a block because it conflicts with a valid lock. The payee that did not receive the validation can wait for block confirmations because maybe it is a rare case of valid transaction that has not been validated (rogue masternode or network problems), but he will know from the beginning that there is something wrong and can wait to release goods or services. Double spending not possible

TanteStefana2

legendary

Activity: 1260

Merit: 1001

Quote from: luigi1111 on September 19, 2014, 10:26:28 AM

Quote from: Minotaur26 on September 19, 2014, 10:06:57 AM

Quote from: thefrog on September 19, 2014, 09:58:07 AM

Quote from: stonehedge on September 19, 2014, 09:55:17 AM

Quote from: thelonecrouton on September 19, 2014, 09:53:24 AM

Quote from: thefrog on September 19, 2014, 09:51:06 AM

Waht would happen to the consensus if someone took like a lot of money, and bougt online like 3000 mn that he/she/them controll ?
would this not be same sitation like the 51% attack on network hash ?

To do so would cost the attacker more money that the exploit would be worth.

Lets not rule out the irrational nutcase trying to ruin DRK. Even then, if Vertoe couldn't get hold of 47K DRK without turning heads yesterday...how on earth is anybody going to get hold of 3m DRK?

I am sure that for 50/drk there would be people seling.
which is like 150 milion usd.
Small play money for some.

I am not fud ing... just simple honest question.

You cannot acquire 3M Darkcoins, that is the whole coin supply outside of masternodes, there would just not be a peer to peer currency anymore the attacket would have to attack himself. Plus you cant estimate a purchase of that size with a fix price like 50 USD it is not economically feasible the demand would be extreme and the price would have to go to the thousands no doubt.

Maybe is a feasible attack on a young Darkcoin clone, maybe, but definitely not in Darkcoin.

If you wanted to acquire 1m+ DRK in the timeframe of a day to several weeks, you could not do it.

1. There isn't that many for sale presently, so price would be driven really really high.
2. When traders saw the incredible pump happening, they would jump on board, further driving the price up (making it even harder to get the rest of your coins). Stuff like this doesn't happen in a vacuum, or all at once.

If one was a bit smarter and attempted to accumulate over several months, then it might be feasible. The price would absolutely rise a bunch, but I don't know if you could affirmatively say it's possible or impossible (except at the wings, i.e., buying 500k DRK is definitely possible, but buying 3m DRK is almost certainly completely unfeasible without circumstances drastically changing).

One must ask the question: Why would someone spend at least $150,000,000 to destroy a $17,000,000 currency?

We did/do have someone that accumulated over the past several months. Even so, the last I heard s/he was still under 400,000 coins. However, that's one of the most intelligent people around. They were buying and continued buying even when the price dropped. They were in it for the long haul. All I can say is..... I'm so jealous! LOL. All this time, and I didn't have any money to buy. Last time I bought was ... what? April? LOL I had to sit and watch on the bench Cry

oaxaca

hero member

Activity: 671

Merit: 500

Quote from: TanteStefana2 on September 19, 2014, 10:50:18 AM

... The Scottish used to be industrious leaders not so long ago...

http://www.salon.com/2013/04/09/the_woman_who_wrecked_great_britain/

Quote from: TanteStefana2 on September 19, 2014, 10:50:18 AM

But it doesn't mean they can't use darkcoin Wink

Amen!

TanteStefana2

legendary

Activity: 1260

Merit: 1001

Quote from: thefrog on September 19, 2014, 09:51:06 AM

Waht would happen to the consensus if someone took like a lot of money, and bougt online like 3000 mn that he/she/them controll ?
would this not be same sitation like the 51% attack on network hash ?

That would require them to purchase 3 million coins (nearly all the coins out there). Not only are those coins not available, but the buy pressure would be enormous and I could see each coin costing thousands of dollars toward the middle of the buying process. Ultimately, it becomes financially unfeasible. This is the reason a masternode costs 1000 coins. It is a well thought out system from the start.

stonehedge

legendary

Activity: 1722

Merit: 1002

Decentralize Everything

Quote from: TanteStefana2 on September 19, 2014, 10:54:41 AM

Quote from: roede94105 on September 19, 2014, 09:14:20 AM

Just FYI guys, I call dibs on DarkYacht name

Ok, I get dibs on DarkSail Wink

DuffYacht

camosoul

hero member

Activity: 560

Merit: 500

www.OroCoin.co

Quote from: TanteStefana2 on September 19, 2014, 10:50:18 AM

Quote from: camosoul on September 19, 2014, 09:11:03 AM

Quote from: georgem on September 19, 2014, 02:57:17 AM

Quote from: drkwarrior on September 18, 2014, 11:33:44 PM

just thought id let u guys know, scotland didnt get independance. Huh

History shows that the only way to achieve independence is to use force, and get rid of the oppressors.

Force is the lowest level. When your oppressors start out there, you have only one choice if you wish to escape their grasp.

Unfortunately, Scotland is just not in a good enough place financially/productivity wise to actually seek independence. They are financially dependent on GB. Somehow, they have got to wean themselves off the tit before they can dream of independence. I'm sorry, my hubby is of mostly Scottish ancestry, and we'd love to see it happen. The Scottish used to be industrious leaders not so long ago. (remember Scotty on Star Trek? There was a reason he was the Engineer and named Scotty) Perhaps, with good leadership, they can pull it together and get it done?

But it doesn't mean they can't use darkcoin Wink

Welfare generates dependency. Same as convenience turned need. They never quit once they get the free fish.

TanteStefana2

legendary

Activity: 1260

Merit: 1001

Quote from: roede94105 on September 19, 2014, 09:14:20 AM

Just FYI guys, I call dibs on DarkYacht name

Ok, I get dibs on DarkSail Wink

TanteStefana2

legendary

Activity: 1260

Merit: 1001

Quote from: camosoul on September 19, 2014, 09:11:03 AM

Quote from: georgem on September 19, 2014, 02:57:17 AM

Quote from: drkwarrior on September 18, 2014, 11:33:44 PM

just thought id let u guys know, scotland didnt get independance. Huh

History shows that the only way to achieve independence is to use force, and get rid of the oppressors.

Force is the lowest level. When your oppressors start out there, you have only one choice if you wish to escape their grasp.

Unfortunately, Scotland is just not in a good enough place financially/productivity wise to actually seek independence. They are financially dependent on GB. Somehow, they have got to wean themselves off the tit before they can dream of independence. I'm sorry, my hubby is of mostly Scottish ancestry, and we'd love to see it happen. The Scottish used to be industrious leaders not so long ago. (remember Scotty on Star Trek? There was a reason he was the Engineer and named Scotty) Perhaps, with good leadership, they can pull it together and get it done?

But it doesn't mean they can't use darkcoin Wink

stonehedge

legendary

Activity: 1722

Merit: 1002

Decentralize Everything

Quote from: TanteStefana2 on September 19, 2014, 10:46:34 AM

Quote from: tungfa on September 19, 2014, 09:07:56 AM

Evan's Paper:
https://www.darkcoin.io/downloads/InstantTX.pdf

Can i please get a "translation" into simple dummy wording
what this paper means ?!
I understand instant transactions,
but what ... using the Masternode (1000 each) as a collateral for the purchases made,
to speed up the transactions ?! Proof of Work ?
....>
Tx

Wow, I just finished reading.... um, let me try...

when a person wants to spend coins, they tell everyone (broadcast) and put a lock on the fund in their wallet. The current group of masternodes receives this information, and when they all verify the same information (validate it), they let all the other clients on the network know it is so. This takes only seconds and the coins are then considered "cleared"

If the person spending the money tries to send conflicting information (tries to spend the coin twice, by paying himself the same coins= double spending attack, which they could code into their wallet so it happens really fast) the conflicting information will cause the masternodes to reject the lock, and the coins spent will have to wait to go through the mining process to be validated. (one will be accepted, the other rejected as it is done currently) This will also happen if one of the masternodes that were elected to do the work ends up losing connection (or tries to pull something).

This makes 3 types of attacks virtually impossible to commit.

Wow

Nice explanation. I tried but couldn't put it as simply as that.

TanteStefana2

legendary

Activity: 1260

Merit: 1001

Quote from: tungfa on September 19, 2014, 09:07:56 AM

Evan's Paper:
https://www.darkcoin.io/downloads/InstantTX.pdf

Can i please get a "translation" into simple dummy wording
what this paper means ?!
I understand instant transactions,
but what ... using the Masternode (1000 each) as a collateral for the purchases made,
to speed up the transactions ?! Proof of Work ?
....>
Tx

Wow, I just finished reading.... um, let me try...

when a person wants to spend coins, they tell everyone (broadcast) and put a lock on the fund in their wallet. The current group of masternodes receives this information, and when they all verify the same information (validate it), they let all the other clients on the network know it is so. This takes only seconds and the coins are then considered "cleared"

If the person spending the money tries to send conflicting information (tries to spend the coin twice, by paying himself the same coins= double spending attack, which they could code into their wallet so it happens really fast) the conflicting information will cause the masternodes to reject the lock, and the coins spent will have to wait to go through the mining process to be validated. (one will be accepted, the other rejected as it is done currently) This will also happen if one of the masternodes that were elected to do the work ends up losing connection (or tries to pull something).

This makes 3 types of attacks virtually impossible to commit.

Wow

oaxaca

hero member

Activity: 671

Merit: 500

Quote from: toknormal on September 19, 2014, 02:32:33 AM

Scotland has been taken for a complete ride by a bunch of crooks.

http://www.robertburns.org/works/344.shtml

rickraw

sr. member

Activity: 387

Merit: 250

Quote from: luigi1111 on September 19, 2014, 10:28:00 AM

Quote from: GhostPlayer on September 19, 2014, 10:22:32 AM

Quote from: coins101 on September 19, 2014, 10:15:03 AM

WTB 4.6m DRK OTC only

Not that I could be part of any of this, but who on earth would be a trusted third party as escrow for such a volume ?
Just wondering....

lol, you do realize this is the entire money supply, right? Coins101 is being funny.

I like the top comment the best:

"I replied to another comment already but just to mention - The darkcoin developer is a public figure since day 1 (January 18th of this year) and has contributed to the cryptocurrency world with quite a few innovations and now is adding one more.
This is one of the rare altcoin devs actually working his ass off and putting his face/name out there and being responsible for his work.
You know when you regret not taking the time to read up on Bitcoin earlier cause you dismissed it without thinking? Well take the time to compare Darkcoin to other coins on the market, it truly has innovation and a dedicated team of public figures."

TaoOfSaatoshi

legendary

Activity: 2156

Merit: 1014

Dash Nation Founder | CATV Host

Looking for instant privacy? Get into the Dark! Darkcoin.io #getintothedark #darkcoin #drk #bitcoin #btc

#getintothedark

Join us,

@TaoOfSatoshi

JGCMiner

hero member

Activity: 611

Merit: 500

Quote from: naxin on September 19, 2014, 10:20:43 AM

Quote from: eduffield on September 19, 2014, 10:12:56 AM

We're trending on r/Bitcoin, anyone care to answer them?

http://www.reddit.com/r/Bitcoin/comments/2gv44m/darkcoin_i_just_solved_one_of_the_largest/

Unfortunately you're not going to get much love there - altcoins get downvoted to hell regardless of content.

And it's hard to blame them - the fact is a majority of altcoins are essentially a scam. Darkcoin is one of a few if not the only that in my mind is not a scam or pump and dump or shitcoin or what have you.

So I'm not quite sure how to change perception enough to even get people to read the paper before criticizing it - but as a community we probably should think/talk about it - because that will be our next growth hurdle: getting mainstream cryptocurrency attention as something more than a shitcoin.

Change happens slowly. In 2009 Bitcoin was a "shitcoin scam" as well.

First produce the tech, then push the PR, and then slowly people will look more closely and see how much DRK really has to offer. However for the time being, as you say, jumping right in r/bitcoin especially now that they are agitated over the recent dump is asking to get eating by one of those dinosaurs.

Laxdude7691

member

Activity: 102

Merit: 10

Quote from: eduffield on September 19, 2014, 10:12:56 AM

We're trending on r/Bitcoin, anyone care to answer them?

http://www.reddit.com/r/Bitcoin/comments/2gv44m/darkcoin_i_just_solved_one_of_the_largest/

Little something! Grin

[–]doucheDad 1 point 6 minutes ago

Instant anonymous transactions...this is real ecash!

Game changer indeed!

Spratan

hero member

Activity: 689

Merit: 507

Evan fixed every bitcoin flaw. Seriously, what could have a altcoin dev done better ?

luigi1111

legendary

Activity: 1105

Merit: 1000

Quote from: GhostPlayer on September 19, 2014, 10:22:32 AM

Quote from: coins101 on September 19, 2014, 10:15:03 AM

WTB 4.6m DRK OTC only

Not that I could be part of any of this, but who on earth would be a trusted third party as escrow for such a volume ?
Just wondering....

lol, you do realize this is the entire money supply, right? Coins101 is being funny.

luigi1111

legendary

Activity: 1105

Merit: 1000

Quote from: Minotaur26 on September 19, 2014, 10:06:57 AM

Quote from: thefrog on September 19, 2014, 09:58:07 AM

Quote from: stonehedge on September 19, 2014, 09:55:17 AM

Quote from: thelonecrouton on September 19, 2014, 09:53:24 AM

Quote from: thefrog on September 19, 2014, 09:51:06 AM

Waht would happen to the consensus if someone took like a lot of money, and bougt online like 3000 mn that he/she/them controll ?
would this not be same sitation like the 51% attack on network hash ?

To do so would cost the attacker more money that the exploit would be worth.

Lets not rule out the irrational nutcase trying to ruin DRK. Even then, if Vertoe couldn't get hold of 47K DRK without turning heads yesterday...how on earth is anybody going to get hold of 3m DRK?

I am sure that for 50/drk there would be people seling.
which is like 150 milion usd.
Small play money for some.

I am not fud ing... just simple honest question.

You cannot acquire 3M Darkcoins, that is the whole coin supply outside of masternodes, there would just not be a peer to peer currency anymore the attacket would have to attack himself. Plus you cant estimate a purchase of that size with a fix price like 50 USD it is not economically feasible the demand would be extreme and the price would have to go to the thousands no doubt.

Maybe is a feasible attack on a young Darkcoin clone, maybe, but definitely not in Darkcoin.

If you wanted to acquire 1m+ DRK in the timeframe of a day to several weeks, you could not do it.

1. There isn't that many for sale presently, so price would be driven really really high.
2. When traders saw the incredible pump happening, they would jump on board, further driving the price up (making it even harder to get the rest of your coins). Stuff like this doesn't happen in a vacuum, or all at once.

If one was a bit smarter and attempted to accumulate over several months, then it might be feasible. The price would absolutely rise a bunch, but I don't know if you could affirmatively say it's possible or impossible (except at the wings, i.e., buying 500k DRK is definitely possible, but buying 3m DRK is almost certainly completely unfeasible without circumstances drastically changing).

One must ask the question: Why would someone spend at least $150,000,000 to destroy a $17,000,000 currency?

GhostPlayer

legendary

Activity: 1092

Merit: 1000

Quote from: coins101 on September 19, 2014, 10:15:03 AM

WTB 4.6m DRK OTC only

Not that I could be part of any of this, but who on earth would be a trusted third party as escrow for such a volume ?
Just wondering....

Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 4028. (Read 9723803 times)