Crouton: he says "I just solved one of the largest problems facing Bitcoin. Instant transactions." Then, next line, "It will be compatible with DarkSend too." Implies that he is thinking first-and-foremost about the fact that this will be huge for Bitcoin. Not that it matters--it'll be huge for the entire crypto community.
There is also the very likely possibility that the BTC people will just piss on it like they do everything else... 
Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 4045. (Read 9723787 times)
September 18, 2014, 10:09:57 AM
September 18, 2014, 10:09:21 AM
Quote
Following the release of Darkcoin’s source code, the development team intends to continue innovating by adding things like IP obfuscation, creating a light-weight Electrum wallet, and possibly most exciting of all, integrating a soon-to-be announced idea which will result in nearly instantaneous confirmation of transactions. Evan Duffield, lead developer of Darkcoin, intends to release a white paper describing his idea for instant transactions, which can be used both on Darkcoin and even on Bitcoin itself (Evan explains that his idea is completely compatible with Bitcoin, does not bloat the blockchain, and does not require a hard fork to implement). If successful, such an idea could revolutionize cryptocurrency, by shortening the delay in confirmation of transactions from as long as an hour (with Bitcoin) to as little as twenty seconds.
Hmm, I hope what Evan meant was that instant transactions would be possible with Bitcoin... as soon as they had a Masternode network.
I can't see any way of doing it without Masternodes, especially given that Evan said in the chat log that pools/miners/block processing etc. are unaffected - what else is there but MNs that could achieve this?
edit: "will cost a ton of money to subvert" also makes me wonder how this could be achieved witout MNs, unless the changes are in the mining/pool software and Evan means something akin to a 51% attack via that.
Can't wait to read the whitepaper...
September 18, 2014, 10:09:04 AM
People complain about BTC?
Goddamn FIAT !!
Waiting to clear fund to get BTC into DRK .... arg !!!
Goddamn FIAT !!
Waiting to clear fund to get BTC into DRK .... arg !!!
It took me an hour to get 3 confirmations on a payment yesterday. Damn near killed me through stress.
Great to have you back on the scene GP!
September 18, 2014, 10:07:14 AM
Guys, you need to carefully reread Evan's chat log where he first mentioned the instant transaction system. I'm almost certain it doesn't involve masternodes, for several reasons:
1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
This makes me sad.1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
I agree, to an extent. But consider this: the world knows what Bitcoin is. Consider a news article on every major techy website in the world, even CNN Money, Forbes, etc. "Darkcoin Developer Solves Bitcoin's Biggest Problem; Revolutionizes the Currency" or whatever. Imagine how much attention Darkcoin would get from solving Bitcoin's problems.
It could conceivably be the first step to supplanting BTC, even. Why go use the coin that Evan fixed, rather use the coin that Evan created?
Is this the chat log you are referring to?
Quote
9/14 8:51 pm I just solved one of the largest problems facing Bitcoin. Instant transactions. I know how to do it...
9/14 8:52 pm It'll be compatible with Darksend too. So we'll have anonymous instant transactions.
9/14 8:52 pm Oh and there will be no bloat, that is the problem with POS. I bet we can get a confirmation within 10-20 seconds in most cases.
9/14 8:52 pm It also fixes the finney attack, which is another huge problem for bitcoin
9/14 8:56 pm =) thats some good news
9/14 8:56 pm lemme know when you need testers
9/14 8:57 pm Yeah, I'm obviously pretty excited about it. I just had a eureka moment
9/14 8:58 pm It's simple, elegant, instant and will cost a ton of money to subvert. Perfect Cheesy
9/14 8:59 pm does that have any technical implication on how transactions are processed and blocks?
9/14 8:59 pm from a pool standpoint
9/14 8:59 pm nope.
9/14 8:59 pm It's not even a hard fork
[...]
9/14 9:25 pm interesting.. https://bitcoin.stackexchange.com/questions/4942/what-is-a-finney-attack
9/14 9:27 pm It could possibly stop a finney attack. It's funny you post that, it's what I'm thinking about righ now
9/14 9:27 pm right*
9/14 9:28 pm It can definitely stop all other double spends, but finney attacks require the client to reject blocks.
9/14 8:52 pm
9/14 8:52 pm
9/14 8:52 pm
9/14 8:56 pm
9/14 8:56 pm
9/14 8:57 pm
9/14 8:58 pm
9/14 8:59 pm
9/14 8:59 pm
9/14 8:59 pm
9/14 8:59 pm
[...]
9/14 9:25 pm
9/14 9:27 pm
9/14 9:27 pm
9/14 9:28 pm
I see nothing in there about instant transactions with Bitcoin... just that this will solve one of Bitcoin's problems (with Darkcoin), is compatible with Darksend, and we (Darkcoin) will have anonymous instant transactions without a hardfork.
There is a press release (not issued yet) that makes it clear that the near instant transaction solution is equally applicable to BTC as DRK and Darksend.
I'm the one who wrote the draft of that potential press release =)
Crouton: he says "I just solved one of the largest problems facing Bitcoin. Instant transactions." Then, next line, "It will be compatible with DarkSend too." Implies that he is thinking first-and-foremost about the fact that this will be huge for Bitcoin. Not that it matters--it'll be huge for the entire crypto community.
September 18, 2014, 10:06:08 AM
Guys, you need to carefully reread Evan's chat log where he first mentioned the instant transaction system. I'm almost certain it doesn't involve masternodes, for several reasons:
1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
This makes me sad.1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
I agree, to an extent. But consider this: the world knows what Bitcoin is. Consider a news article on every major techy website in the world, even CNN Money, Forbes, etc. "Darkcoin Developer Solves Bitcoin's Biggest Problem; Revolutionizes the Currency" or whatever. Imagine how much attention Darkcoin would get from solving Bitcoin's problems.
It could conceivably be the first step to supplanting BTC, even. Why go use the coin that Evan fixed, rather use the coin that Evan created?
He was talking about Darkcoin for the hardfork not Bitcoin ...
September 18, 2014, 10:06:03 AM
People complain about BTC?
Goddamn FIAT !!
Waiting to clear fund to get BTC into DRK .... arg !!!
Goddamn FIAT !!
Waiting to clear fund to get BTC into DRK .... arg !!!
September 18, 2014, 10:05:53 AM
Bounced against this glass ceiling twice in 36 hours... 3rd time is the charm?
September 18, 2014, 10:04:54 AM
Looks like we're about to break 9 at breakneck speed.
September 18, 2014, 10:03:25 AM
Guys, you need to carefully reread Evan's chat log where he first mentioned the instant transaction system. I'm almost certain it doesn't involve masternodes, for several reasons:
1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
This makes me sad.1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
September 18, 2014, 10:02:28 AM
Quote
Following the release of Darkcoin’s source code, the development team intends to continue innovating by adding things like IP obfuscation, creating a light-weight Electrum wallet, and possibly most exciting of all, integrating a soon-to-be announced idea which will result in nearly instantaneous confirmation of transactions. Evan Duffield, lead developer of Darkcoin, intends to release a white paper describing his idea for instant transactions, which can be used both on Darkcoin and even on Bitcoin itself (Evan explains that his idea is completely compatible with Bitcoin, does not bloat the blockchain, and does not require a hard fork to implement). If successful, such an idea could revolutionize cryptocurrency, by shortening the delay in confirmation of transactions from as long as an hour (with Bitcoin) to as little as twenty seconds.
September 18, 2014, 10:02:07 AM
Wondering what will happen and what high new price will we hit when all the coin supply of the sellers will finish and holders and masternode operators will freeze their coins where we will be guys?
I guess the higher the price the more profitable it is to mine. Network hashrate has been on the increase all week. I like to think partly due to the 3.5Ghs X11 solo mining experiment that I conducted with flare on Tuesday
thats why more often multipools like nicehash etc joined to mine and as they dont pay the MN fee p got 0 payments. But it will finish very soon
September 18, 2014, 10:00:32 AM
Guys, you need to carefully reread Evan's chat log where he first mentioned the instant transaction system. I'm almost certain it doesn't involve masternodes, for several reasons:
1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
This makes me sad.1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
I agree, to an extent. But consider this: the world knows what Bitcoin is. Consider a news article on every major techy website in the world, even CNN Money, Forbes, etc. "Darkcoin Developer Solves Bitcoin's Biggest Problem; Revolutionizes the Currency" or whatever. Imagine how much attention Darkcoin would get from solving Bitcoin's problems.
It could conceivably be the first step to supplanting BTC, even. Why go use the coin that Evan fixed, rather use the coin that Evan created?
Is this the chat log you are referring to?
Quote
9/14 8:51 pm I just solved one of the largest problems facing Bitcoin. Instant transactions. I know how to do it...
9/14 8:52 pm It'll be compatible with Darksend too. So we'll have anonymous instant transactions.
9/14 8:52 pm Oh and there will be no bloat, that is the problem with POS. I bet we can get a confirmation within 10-20 seconds in most cases.
9/14 8:52 pm It also fixes the finney attack, which is another huge problem for bitcoin
9/14 8:56 pm =) thats some good news
9/14 8:56 pm lemme know when you need testers
9/14 8:57 pm Yeah, I'm obviously pretty excited about it. I just had a eureka moment
9/14 8:58 pm It's simple, elegant, instant and will cost a ton of money to subvert. Perfect Cheesy
9/14 8:59 pm does that have any technical implication on how transactions are processed and blocks?
9/14 8:59 pm from a pool standpoint
9/14 8:59 pm nope.
9/14 8:59 pm It's not even a hard fork
[...]
9/14 9:25 pm interesting.. https://bitcoin.stackexchange.com/questions/4942/what-is-a-finney-attack
9/14 9:27 pm It could possibly stop a finney attack. It's funny you post that, it's what I'm thinking about righ now
9/14 9:27 pm right*
9/14 9:28 pm It can definitely stop all other double spends, but finney attacks require the client to reject blocks.
9/14 8:52 pm
9/14 8:52 pm
9/14 8:52 pm
9/14 8:56 pm
9/14 8:56 pm
9/14 8:57 pm
9/14 8:58 pm
9/14 8:59 pm
9/14 8:59 pm
9/14 8:59 pm
9/14 8:59 pm
[...]
9/14 9:25 pm
9/14 9:27 pm
9/14 9:27 pm
9/14 9:28 pm
I see nothing in there about instant transactions with Bitcoin... just that this will solve one of Bitcoin's problems (with Darkcoin), is compatible with Darksend, and we (Darkcoin) will have anonymous instant transactions without a hardfork.
There is a press release (not issued yet) that makes it clear that the near instant transaction solution is equally applicable to BTC as DRK and Darksend.
September 18, 2014, 09:58:11 AM
Guys, you need to carefully reread Evan's chat log where he first mentioned the instant transaction system. I'm almost certain it doesn't involve masternodes, for several reasons:
1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
This makes me sad.1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
I agree, to an extent. But consider this: the world knows what Bitcoin is. Consider a news article on every major techy website in the world, even CNN Money, Forbes, etc. "Darkcoin Developer Solves Bitcoin's Biggest Problem; Revolutionizes the Currency" or whatever. Imagine how much attention Darkcoin would get from solving Bitcoin's problems.
It could conceivably be the first step to supplanting BTC, even. Why go use the coin that Evan fixed, rather use the coin that Evan created?
Is this the chat log you are referring to?
Quote
9/14 8:51 pm I just solved one of the largest problems facing Bitcoin. Instant transactions. I know how to do it...
9/14 8:52 pm It'll be compatible with Darksend too. So we'll have anonymous instant transactions.
9/14 8:52 pm Oh and there will be no bloat, that is the problem with POS. I bet we can get a confirmation within 10-20 seconds in most cases.
9/14 8:52 pm It also fixes the finney attack, which is another huge problem for bitcoin
9/14 8:56 pm =) thats some good news
9/14 8:56 pm lemme know when you need testers
9/14 8:57 pm Yeah, I'm obviously pretty excited about it. I just had a eureka moment
9/14 8:58 pm It's simple, elegant, instant and will cost a ton of money to subvert. Perfect Cheesy
9/14 8:59 pm does that have any technical implication on how transactions are processed and blocks?
9/14 8:59 pm from a pool standpoint
9/14 8:59 pm nope.
9/14 8:59 pm It's not even a hard fork
[...]
9/14 9:25 pm interesting.. https://bitcoin.stackexchange.com/questions/4942/what-is-a-finney-attack
9/14 9:27 pm It could possibly stop a finney attack. It's funny you post that, it's what I'm thinking about righ now
9/14 9:27 pm right*
9/14 9:28 pm It can definitely stop all other double spends, but finney attacks require the client to reject blocks.
9/14 8:52 pm
9/14 8:52 pm
9/14 8:52 pm
9/14 8:56 pm
9/14 8:56 pm
9/14 8:57 pm
9/14 8:58 pm
9/14 8:59 pm
9/14 8:59 pm
9/14 8:59 pm
9/14 8:59 pm
[...]
9/14 9:25 pm
9/14 9:27 pm
9/14 9:27 pm
9/14 9:28 pm
I see nothing in there about instant transactions with Bitcoin... just that this will solve one of Bitcoin's problems (with Darkcoin), is compatible with Darksend, and we (Darkcoin) will have anonymous instant transactions without a hardfork.
September 18, 2014, 09:53:55 AM
Guys, you need to carefully reread Evan's chat log where he first mentioned the instant transaction system. I'm almost certain it doesn't involve masternodes, for several reasons:
1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
This makes me sad.1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
I agree, to an extent. But consider this: the world knows what Bitcoin is. Consider a news article on every major techy website in the world, even CNN Money, Forbes, etc. "Darkcoin Developer Solves Bitcoin's Biggest Problem; Revolutionizes the Currency" or whatever. Imagine how much attention Darkcoin would get from solving Bitcoin's problems.
It could conceivably be the first step to supplanting BTC, even. Why go use the coin that Evan fixed, rather use the coin that Evan created?
September 18, 2014, 09:53:20 AM
Wondering what will happen and what high new price will we hit when all the coin supply of the sellers will finish and holders and masternode operators will freeze their coins where we will be guys?
I guess the higher the price the more profitable it is to mine. Network hashrate has been on the increase all week. I like to think partly due to the 3.5Ghs X11 solo mining experiment that I conducted with flare on Tuesday
September 18, 2014, 09:53:16 AM
Guys, you need to carefully reread Evan's chat log where he first mentioned the instant transaction system. I'm almost certain it doesn't involve masternodes, for several reasons:
1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
This makes me sad.1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
September 18, 2014, 09:51:29 AM
Wondering what will happen and what high new price will we hit when all the coin supply of the sellers will finish and holders and masternode operators will freeze their coins where we will be guys?
September 18, 2014, 09:51:10 AM
Guys, you need to carefully reread Evan's chat log where he first mentioned the instant transaction system. I'm almost certain it doesn't involve masternodes, for several reasons:
1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
This makes me sad. 1) He says that it won't require Bitcoin to hard fork. How could you implement MNs into the protocol, plus instant transactions, without a hard fork?
2) He clearly says that he has found a way to make Bitcoin transactions instant...he then mentions that it is fully compatible with DarkSend and so will work with Darkcoin. But it's clear from his wording that the system is designed and intended for Bitcoin, first and foremost.
September 18, 2014, 09:51:01 AM
That is partly true but US is sort of a trendsetter for Europe and others puppet countries. If US signs the Bitcoin regulation into law the rest of the world may follow suit.
Loudest LOL all day. In fact, you might have heard that in New York from here in Europe.
I wonder if Angela Merkel has changed her mobile number yet?
September 18, 2014, 09:50:48 AM
It's sooo beautiful!
Wish this climb would last forever..
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