Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 6516. (Read 9723858 times)

Adam Back tweeted Darkcoin
Adam Back tweeted Darkcoin
Adam Back tweeted Darkcoin!!!

@adam3us
"DarkCoin seems to be bitcoin fork with a multi-hash PoW and a p2p CoinJoin impl.  DarkWallet does the same thing with BTC?"

I invited him to join the discussion (still trembling)…

@eduffield - perhaps you should connect with him…

What are the max coins now?

I looked at a bunch of different settings and picked 7%, the curve looks pretty nice and it still creates a good long term incentive for investment and mining. Goes into effect on block 210240, then each year after that.

https://github.com/evan82/darkcoin/commit/0f2c10e18a695630464d3b1895b9edca3e33a1d0

Back to my work on DarkSend now  (I have many exciting things to show everyone next week!)

7% per year.

2015 - 930,000 DRK
2016 - 864,900 DRK
2017 - 804,357 DRK
2018 - 748,052 DRK
2019 - 695,688 DRK
2020 - 646,990 DRK

I use almost the exact same GPU settings as with Scrypt with the exception of intensity.  15 or 16 works better than 18 or 19, for me at least.  I suggest starting with your scrypt settings and tweaking from there.

Make sure you're using the darkcoin kernel in sgminer.

I want to start mining this instead of Vert. I'm sold on the lower electricity and anti asic properties and the more I research it the better it looks as an investment standpoint(lower difficulty good time to get in).

Looking that this, how do i find strait forward directions on how to optimize this for GPU"S. I'm new to X11 and will just jump in and try and figure it out, but if anymore can help speed up that process with links or specific info, please do for me, and anyone after me. I have a 6 rig 7950 msi twin frozr that i will use full time on this coin.

I've had a look around some other scrypt boards.

By the end of the year, ASICs will push out GPU miners all over the place.  Expect a lot of miners on Darkcoin because it has value, utility, less power draw, anti-ASIC bias, active community and innovation.

If $100m is transacted through DarkSend each day, at 0.5%, 30,000 miners can earn a lot in regular fees.

I think 7% to 8% would be ideal. But, what is far more ideal is picking a damn number, even if it isn't perfect, and sticking with it.

+1

~15-20% seems like a good number to me as well.

Decimal points move to the left in deflationary, capped cryptocurrency. This worry comes from having one's head still stuck in print-more-money land. I can spend 1DRK just as easily as I can spend 0.00001DRK...

Exactly my thinking.  There is no liquidity issue and there never will be.  Same goes for initial buy in, for the same reason.  Prices of real goods will simply adjust to reflect the relative value of the coin, and investors have something more attractive.  I'm not sure I see the downside, aside from general concerns about dicking around with the inflation formula.

The Bernanke of FailCoin. SuccessCoin doesn't have a Bernanke.

+1 DRK for you.

It's hard for a software developer to stop tweaking things and just let it ride. There will be situations imaginable and which may occur in reality for which no number is good. the human element will always affect it in a way you didn't predict. The ability to take your hands of the wheel and just let it ride is the antithesis of what a programmer is...

Don't ask anybody. Don't pay any attention tot eh vote. Just do it man! Then never touch it again.

This is the first thing to shake my confidence in this coin. C'mon Evan, you know better... This is DarkCoin not ThePeoplesCoinOfUganda.

This is very important point (sticking with it). DRK is a a coin that is just 2 months old so some tweaking is ok, aside from feature additions which are always ok, but the inflation formula is a key parameter that should be set in stone, forever with no further changes. Even changing the parameter has the potential to shake the confidence in a coin, whether that change is inflationary or deflationary (which benefits most of the existing stakeholders). The rationale is this: If today the formula was changed to this and yesterday it was changed to that, then what is my guarantee as a bagholder / miner / investor etc, that tomorrow the same won't happen towards an unknown direction? Is a coin dev the Bernanke of the X, Z coin? This kind of questioning was introduced with the Doge situation and it wasn't good.

Heh... I can only imagine what would happen with fake transactions in order to increase the mining output 

I see what you're saying but I guess I have a different perspective on what the mid term is. Even Bitcoin's userbase is relatively tiny at this point so in terms of developing something with meaningful staying power, the system needs to remain accessible. I do think that Darkcoin is taking a long view with the horizon for total mining to be completed over the span of decades, partly for this reason.

I think this is the mistake. How much was Bitcoin worth 2 years ago?

Acceptance doesn't occur gradually over time. It comes in leaps and bounds of realization from the unwashed masses who barely comprehend what is happening. Most of them will call it a scam and refuse to put in real thought. Satoshi handled it best by simply ignoring the unstable human element. Set it BELOW what a spike of acceptance might be at it's maximum. The rest is just mental masturbation. The acceptance rate, which you cannot predict with any degree of accuracy, is what keeps the block rate from being inflationary. So make it too low. Always. Value will spike now and again. So what. As long as it doesn't dip from too much production, and the 3x diff does this... The algo keeps it distributed instead of ASIC consolidation... This means that production will unlikely every match the spikes of recognition.

With capped crypto, everything is backwards of what you're used to thinking. The diff and the supply don't change and all this tinkering is like the Fed... The exact number is really not that important as long as it isn't crazy high. Pick something and stop screwing with it. You're goofing around with the most important aspect of a cryptocoin's value capacity and trustworthiness. 20%, 30%, who cares. Just pick something and stick with it. I thin people just want something to talk about... Go outside and get some Sun... No, not SunCoin... Actual sunlight. I like 20%. I'd like 15% more. But 20% will do fine. Consider that BitCoin has already popped the crypto cherry, and it's roughly 50% ever 4 years. That's 12.5% and at the most broad acceptance rate you can ever expect. Even 15% is a bit high. But it's really not that bad. It's not that important.

Go outside guys...

This means we should create a darkcoin gravity wave for coin issuance over a fixed supply:

more transactions, more fees, less coins issued

Few transactions, lower fees, more mined coins.

No worries TanteStefana. I'm actually unclear how the present reward structure works.

Can anyone explain it to me like I'm 5?

My biggest concern with all alts are the mining raping. Miners seem to only want more btc and use endless new coins to further that end. People hold btc even measure all else in btc. Could that be achieved without a cap? I seriously doubt it. But we all agree that transactions are the real world goal. To get it flowing as a payment method.

There is no need to guess what can happen with a hoarded coin regarding liquidity and trade: We already know how it works from seeing a $600 BTC with hoarding percentages of >50%. The only thing that changes is the amount of BTC that merchants ask for their goods. Five years ago they would ask 10.000 BTC for a pizza, now they are ok for 0.02 BTC and in two years they might be ok for a few satoshis Thus the problem of liquidity is solved.

The only reason more coins are needed is to provide a fairer distribution in the mid term.

Yeah I agree with this general line of reasoning. If the coin caps start decreasing it will be a strong deflationary pressure that will encourage people to only hold coins rather than to use them in transactions. I see what people mean about encouraging this use as a store of value, but I think it is a bit early given that you need to have widespread adoption/acceptance of the value of a commodity before that is really possible. If everyone holds on to something there will be insufficient volume to encourage adoption, the use of Darksend to conduct anonymous purchases, etc.