Can enyone clear the water around ring signatures and darksend/masternodes ? Are we getting rid of masternodes ? What is the feature of darkcoin ? "Big Things comming" it's not a clear schedule .
eduffield posted earlier today, Masternodes and Darksend are sticking around, he will not be implementing ring signatures.
Holy crap, over .019! We will hit .02 soon! Massive 100+BTC sellwalls on Mintpal just keep evaporating! 162 BTC to hit .02. I'm betting it won't actually be that much, the sellwall will disappear just as it did at .0185, etc. With such a huge jump, I think we will have to backfill. I am tempted to sell and re-buy later. Still, I have never been able to time trades like this very well, and I've screwed myself on more than one occasion. I'm hodling, despite the temptation!
Off the topic of DRK price: I am thinking of trying to facilitate a collaborative Masternode by using Counterparty (XCP). Basically the idea would be to sell shares in a Masternode. Create an XCP asset with 10,000 shares. Call it DRKMN. (But we can't call them shares for legal reasons; we'll just say that each DRKMN represents 0.1 DRK in a Masternode.) People contribute their DRK to the pool and receive the corresponding DRKMN assets in return. The person running the pool (maybe me, maybe somebody else) sets up the Masternode on a server somewhere and pays dividends through XCP on a regular basis from the node's earnings. The dividends would have to be in BTC due to the way that Counterparty operates, so the operator would need to cover costs, convert to BTC and distribute the profits through Counterwallet.
The really cool thing about this is that once the 1000 DRK are in the Masternode pool, they can be traded for BTC in a decentralized manner (NOT through an exchange) so if, say, you contributed 100 DRK to the pool then you would later be able to sell 50 DRK worth and retain your ownership of the other 50 DRK worth. So it is a way of making Masternode-locked DRKs liquid!
The problem is one of trust. The node operator/trustee would obviously need to be a trusted figure who will not run away with everybody's DRK. I'm just an anonymous dude that nobody has any reason to trust, but if somebody with stature in the community wants to help set this up, I will do whatever I can to help. I do have a Linux server admin background... maybe a little rusty in some areas (no longer in the business), but I'm not scared of spending several hours in the commandline getting things fixed up. I would also be willing to contribute 100 DRK to the pool, which unfortunately is the majority of my DRK holdings.
Eventually I could see there being many DRKMN-style assets in Counterparty and possibly other Bitcoin-2.0 coins such as BitShares, Mastercoin, etc. The benefit of being able to liquidate holdings in a Masternode without taking down the node is quite clear.
....and in the time it took me to write this, we're back below .019. The buy side needs to shore itself up bigtime. Almost 200BTC to hit .02 now. ...and a good chunk of that just disappeared, now 113BTC.
There is a need. If you can figure out a way to do it, there will be plenty of takers.
I dont hold DRK so can be objective here... And this is how I see it...
I thought DRK was another pump and dump... Waited and waited for the bubble to pop and it didn't / hasn't.. Read more and more about the coin, liked it more and more, and I may now grab some... I am kicking myself as I should have done more research but was put off the coin by some of the comments in the VTC thread...
I thought DRK was another pump and dump... Waited and waited for the bubble to pop and it didn't / hasn't.. Read more and more about the coin, liked it more and more, and I may now grab some... I am kicking myself as I should have done more research but was put off the coin by some of the comments in the VTC thread...
I am watching DRK for weeks now and build up a base of coins over that time. It was my second favourite after VTC. After loosing a lot of money on LTC i finally decided to cut my LTC loss and switched a quarter of them to DRK.
After it begun too rise from 130K to 200K the first time i begun to feel thinking it is more worth to hold DRK than BTC.
The next step was trying to build up my DRK by daytrading. On the run to 640K i lost around 86 DRK i wasn´t able to buy back on a bigger loss.
Finally i transfered now all my drk from mint and cryptsy to my wallet, stored into wallet.dat, took it on serveral medium and places and
only follow this now from the sideline. I have not the skills to run a masternode and that´s the only reason why i did not fill up my wallet finally up to 1000 DRK.
I thought this might happen.
Edit -
I did suggest an IPO a few hundred pages back for a master node as a service offering; Evan suggested a kind of fractional ownership a few pages back.
Clearly we need an element of trust between someone with the technical skills to set-up and manage a master node and those with DRK to invest. The trust bit causes all sorts of problems, and asking someone to run a master nodes is time consuming and therefore adds to the cost.
I'll have a think about some options to get over this.
Yes, trust a third party is main thing here. Momentary a masternode has worth DRK of 14BTC which is around 6.5K$
Evan had the idea maybe somone make a service that looks like a pool that collect 1000 DRK from users to set up a masternode
and shares the profit to users and get paid a fee for the service.
First i thought, wow great - but thinking about it for a while i change my mind in thinking about scam and it´s too risky in danger of loose DRK for a profit.
Way to solve this could be a image like BAMT. I would also be willing to pay a fee of my profit for such a service.
That's why I thought an IPO might work. One entity with an incentive to operate master nodes and collect a share of the profit. The more master nodes, distributed, the more profit share and dividends to everyone. It needs scale to be worth while, so an IPO would not get off unless the books where filled.
My main concern with an IPO is that it is now a regulated activity, especially if anyone from the US takes up an offer http://investor.gov/news-alerts/investor-alerts/investor-alert-bitcoin-other-virtual-currency-related-investments#.U3x7PvldWCn
You don't have to do anything criminal such as stealing money, just not making the right applications to the right authorities before you start gets you in trouble. Living in the UK, extradition takes 5 minutes and a few emails.
Yes, I read those posts earlier and have been keeping up with the thread. Proposing the mechanism of Counterparty to manage the shares is my only real contribution here. Counterparty has several features that would make this pretty easy; automated management of dividend payouts being a key one. The liquidity aspect is really a side benefit, but one that could eventually end up being critical. Down the road, I can see people with 1000 DRK setting up this kind of tradable asset so that they can scale out of their DRK holdings without taking down the Masternode. I would expect DRKMN to trade at a decent premium to DRK, given the time/effort needed to maintain the darknode, as well as the profitability.
Maybe it's just too early right now. It would probably be better to wait until the Masternodes are fully operational, to see what kind of time and expense they require, as well as their profitability, before trying to implement a multi-owner Masternode.
?? It's only at 5% of its potential.
