Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 4768. (Read 9723803 times)

Thing is, these flaws that are now coming up where not even analyzed so much on the theoretical level. Of all the attack vectors that have been analyzed for PoS coins, there are two in particular which have been demonstrated in real life in a way that not many discussed beforehand...

1) Mining domination during the PoW distribution phase - where an exceedingly large amount of rented (or otherwise) hashpower acquires most of the coins of a new PoW/PoS coin and renders it DoA due to future 51% staking or future nothing-at-stake vector (after selling the coins).

2) Hacking a large exchange and rendering a PoS coin dead due to possible staking attack.

The first can be considered "ok" if the mining phase is completed without abnormalities... but the second is an uncertainty which will always loom. You can't tie a coin's future (not in terms of price, but in terms of utility) to whether an exchange will get hacked. This is a real possibility. And I don't know whether the attack is reversible with a rollback even if the hacked transaction is reversed, as now the hacker has a copy of the chain where he has the coins and can launch a nothing-at-stake attack in the future.

hmm. site is super slow/won't load. Maybe they weren't prepared for an influx of traffic

Yes regulation is coming.  We'll have to wait and see how it is implemented and how it will effect anonymous cryptocurrencies.

I am of the opinion that the regulations will not be favorable and that the main uses of any anonymous cryptocurrency will be p2p transactions which can then be converted to FIAT through BTC.  But there will still be a use for an anonymous cryptocurrency.  

One must also think about how those regulations will effect someone operating a masternode.  It's too early say what will transpire but it's good to look at all the possibilities so that one is prepared for any potential fallout.

Bitfinex hands down. The volume wasn't there before but it should migrate after Mintpal proved susceptible to sql injections. (Unofficially)

 
 darkota, for example, is on my ignore list for some time now... so all I get from him is this.





See where am I getting at? I have absolutely no clue what he said, but I'm sure its completely worthless of your time.

I absolutely recommend option a) ... but if you want to have some fun, just delete the crap out of "quotes" when posting.

It is...maybe only for this I should press the unignore button............tempting......but no  

whats the new best exchange? cryptsy again?

There are ways to regulate "anonymous" cryptocurrencies. Getting adopted into the "mainstream" pop. won't be any harder because a coin is anonymous.

Simply Put: Anonymous currencies can still be regulated to prevent money laundering etc, by the exchanges used to trade them. When/If Bitcoin becames Huge and "mainstream", exchanges will be monitored by governments to stop money laundering. Now, some of you may ask, what's the point of using the crypto currency then?

The answer is, while the government may be able to monitor exchanges, it will be impossible to monitor transactions from person to person, so that's still private and cannot be spied upon. It's also impossible to monitor transactions In real life, like through a localbitcoins.com type thing. Also, along with the fact that cryptos arent controlled by a central entity etc etc etc. Which makes them 10x better to use than Fiat, like the EURO, or USD, etc.

Basically, some regulation is coming, but it's not going to be as bad as many of you think. The Need for Privacy is here and now.

See what I just did just there? Great fun it is!!    Try it!!

Thank you for answering my question.  I really appreciate it. 

There may never be a rebound.   It doesn't matter if RC4 is completely successful and works flawlessly.  There are forces larger than Darkcoin that will have an effect on the growth, adoption, and use of any anonymous cryptocurrency.

One of the smartest things Bitcoin did was to avoid being labeled as an anonymous cryptocurrency.  Not being anonymous will be what allows bitcoin to be widely adopted and tolerated by governments across the world.

Any anonymous coin is going to have a significant amount of difficulty not running into trouble with government regulations in many countries.  In fact, the main feature of Anonymous coins, their anonymity, may very well be the feature that prevents them from being adopted and used as a payment method.  Sure you might be able to send P2P or use on some underground website.  But it's highly unlikely that any anonymous coin will ever be widely adopted for making legitimate transactions.  There are too many governments already imposing regulations on Bitcoin transactions and they consider Bitcoin to be anonymous.  Just imagine a truly anonymous coin where they are unable to follow the transaction in the blockchain.  Not many governments are going to allow that.  It's just a matter of time before various governments around the world get together and deal with this issue.  The outcome will likely not be in favor of anonymous cryptocurrencies.

There has been a significant amount of recent government actions in various countries to impose regulations requiring identities of individuals making transactions using digital currencies.  Some of these regulations pretty much shut the door on any legal anonymous cryptocurrency transactions in these countries.  One could still of course use them underground.  Which is likely the only place they will ever be used.  So going forward, Bitcoin will remain the cryptocurrency of choice for merchants and the majority of cryptocurrency users.  Any coin that challenges Bitcoin will not do it because of an anonymity feature.  It will do it with faster transaction and confirm times.   No anonymous coin will ever challenge bitcoin because the anonymity feature will prevent it from being used legitimately in many countries.

Darkcoin may very well be the best anonymous cryptocurrency solution out there.  But that doesn't mean that you'll ever be able to use it for anything other than nefarious activities.


There is lots of information out there and I am not the only one reading it.  Could be one reason for the decline in Darkcoin.   People are realizing that anonymous cryptocurrencies may run afoul with government regulations.   Another reason may be that anonymous cryptocurrency is nothing more than a fad that has run it's course.  I think it's a combination of both.  Either way, don't expect the price to rebound anytime soon.  Remember, there were shills saying that the price would go up once masternode payments kicked in.  Well masternode payments have kicked in and the price has not gone up.  I wonder how the miners feel having 20% taken away from them while at the same time the price is going down.  But hey, some guy made 29 Darkcoin in one day running his masternodes.  So I guess Darkcoin doesn't need to go up in price for some to keep making profit.    


Here are some recent articles discussing regulations that are designed to prevent anonymous transactions using cryptocurrency.

French Government Outlines New Regulations for Bitcoin Market Transparency

Transparency cited by regulators

The new regulations require bitcoin “distributors” to identify and verify their users to limit the level of anonymity.
http://www.coindesk.com/french-government-outlines-new-regulations-bitcoin-market-transparency/



Italian Authorities Issue Bitcoin Warnings, Urge Regulation

Bitcoin regulation urged

Speaking in an interview with Ansa.it, Attorney General of Rome, Luigi Ciampoli, warned that bitcoin could be abused by criminals engaged in money laundering, financing of terrorism, or mafia activities. He urged for regulation that would allow authorities to trace and identify all persons involved in digital currency transactions.

Reda told Italian daily La Repubblica that bitcoin’s volatility poses a risk for investors and that its anonymity allows Italian residents to hold and transfer wealth anonymously.
http://www.coindesk.com/italian-authorities-issue-new-bitcoin-warnings-urge-regulation/


Argentinian Money Regulator Mandates Reporting on Bitcoin Activity

The UIF document, which outlines amendments to previous regulations, cites the threat of money laundering and criminal financing.
http://www.coindesk.com/argentinian-money-regulator-mandates-reporting-bitcoin-activity/

Roger that....

 Please be sure to either

a) ignore the known and mentioned, and obviously annoying trolls....

b) Feel free to feed them!! They're great fun!! Best pets on earth and load of fun to mess with. But please, if you press "quote", dont make everyone else's life worse by leaving what they said quoted!! Because the sensible people on a) list WILL be able to read their crap!

So press quote... but just delete the content between the "quote" tags

(quote) bla bla bla bla bla (/quote)

 Just delete the portion in red and press "post", and they will know you answered them, without the rest of us suffering the nuisance ...  and the world becomes a better place....  

 Its absolutely great fun! Just not the propagating of their crap.

I just think everyone is to on the edge and a bit fed up with the slinging going on in this thread.  I know we are on the doorstep of some great technology.  I don't ignore peeps ever...because I think there is always something to learn, though there have been some serious doubts with several posters on this thread.  There is ALWAYS room for intelligent questions....and your last one was something I had not thought about....as I have been sitting on the fence on wither to start up several of my own MN's and was holding off till the system was live...which I should have just asked.  Damn...I would have my MN's back in the beginning!  DOH!  

Also, not everything can be tested in testnet and in the last few months several changes have been introduced sequentially. Some of them have proved to be trickier than expected (like masternode payments) and have needed several tries. Should everything have been introduced at the same time, probably it would have been mayhem.

+1

Positive feedback loop!!

Well, the alternative was "Ok we're ready for RC4 - oh, we only have 20 Masternodes.  Uhh, ok now what...".  Removing the limit on Darksends without having the proper MN infrastructure in place wouldn't have worked.  Getting the proper infrastructure in place without a reward mechanism may not have been possible at all (by "proper" I mean something like 600-1000 MNs) without offering an incentive to MN operators.  Something like 12% of the coin supply is also out of circulation due to Masternodes, which helps bolster the price of the coins miners are getting.  It's a bit of a trade off, but I think it works out OK for everyone involved.  The coin is priced on speculation at this point anyway as the crowing feature (Darksend) is still closed source.  A HUGE part of that speculative valuation is due to the service that the Masternode network provides.

okay.. clear.. thanks

Since last 2 days I think 03 is paying 10%. They have not updated yet.

shojayxt

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Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | Fork for Masternode Payment
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