[ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 6722.

TanteStefana

full member

Activity: 280

Merit: 100

The Future Of Work

Quote from: AlexGR on March 01, 2014, 09:23:43 PM

Quote from: LimLims on March 01, 2014, 08:59:59 PM

Quote from: AlexGR on March 01, 2014, 08:51:21 PM

I think I saw on the coins specs that the block reward is now halved at 2 years instead of 1

source?

https://github.com/evan82/darkcoin

What is DarkCoin?
DarkCoin is a lite version of Bitcoin using X11 as a proof-of-work algorithm.

Super secure hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)
Block reward is controlled by moore's law: (11111 / (((Difficulty+51)/6) ^ 2))
CPU only mining
Block generation: 2.5 minutes
Difficulty Retargets every 576 blocks
84 Million Coins Max
Block reward halving every 2 years
Encrypted transaction network: Work In Progress
Anonymous blockchain using coinjoin technology: Work In Progress

Oh, I don't think he has updated that.

JGCMiner

hero member

Activity: 611

Merit: 500

Quote from: Brilliantrocket on March 01, 2014, 09:16:49 PM

Quote from: AlexGR on March 01, 2014, 09:10:36 PM

There's more at stake than daily mining or who gets what. It's about future-proofing the coin so that it can have a clear and frozen number of max issuance where everybody knows how the game will play out, along with a timeline that will allow for smooth operation over a large time frame. The second component is critical as a clone could come and say "we are more future proof then darkcoin". Any of your weaknesses can be improved upon and rebranded to something better, so, knowing this, you do your best - leaving very few margins for improvement to uninventive copycats.

There are ways to future proof the coin that won't hurt early adopters like this change. Set the reward algorithm so that it caps out at something reasonable, say 10M after a set number of years. It should be us early believers who should be rewarded, the people who are actively contributing to the success of Dark.

I just don't understand why the dev gave in to the trolls saying that Dark was premined. Yes, a good number of coins were mined in the first few months. However the people that mined those coins are what enabled the success of Dark ( Much credit to the dev). Why should some random miners who only came to Dark once it was safe and obviously valuable get the majority of its value?

Eduffield, I would really appreciate a response to this recent change. Why are you taking the majority of the reward away from us and giving it to future opportunists?

Because the devs don't think the point of the coin should be to ensure that early investors strike it rich?? Roll Eyes

TanteStefana

full member

Activity: 280

Merit: 100

The Future Of Work

Quote from: AlexGR on March 01, 2014, 09:20:30 PM

Quote from: Brilliantrocket on March 01, 2014, 09:16:49 PM

Quote from: AlexGR on March 01, 2014, 09:10:36 PM

There's more at stake than daily mining or who gets what. It's about future-proofing the coin so that it can have a clear and frozen number of max issuance where everybody knows how the game will play out, along with a timeline that will allow for smooth operation over a large time frame. The second component is critical as a clone could come and say "we are more future proof then darkcoin". Any of your weaknesses can be improved upon and rebranded to something better, so, knowing this, you do your best - leaving very few margins for improvement to uninventive copycats.

There are ways to future proof the coin that won't hurt early adopters like this change. Set the reward algorithm so that it caps out at something reasonable, say 10M after a set number of years. It should be us early believers who should be rewarded, the people who are actively contributing to the success of Dark.

Yes of course I agree it should cap but the period when this happens should be further in the future. Otherwise why would anyone mine after the capping? And if people don't mine, then how are you securing the network? You don't so you end up with a problematic network, unless the price is sooo large and transactions so many that miners can still make their expenses by mining transaction fees. That could happen, why not, but let's have everything covered either way.

As for the number of coins, 84m is good but I wouldn't object to a 21m scheme either - like BTC with a dark spin Tongue

If I were to make a coin like this, I would have made no cap, kept constant growth because I think future adaptation of the coin will give it a lot of value, and making the coin mineable, even forever, will guarantee it's longevity. The influx of coin into the system keeps it usable. But my idea would probably fail because early adopters wouldn't make as much money and others would see it as a non-rare commodity. But I think it would be more functional as a coin. (shrug shoulders)

This developer has a pretty good balance in my opinion. There are many ways to skin a cat, none absolutely the best. This coin has very good balance IMO.

AlexGR

legendary

Activity: 1708

Merit: 1049

Quote from: LimLims on March 01, 2014, 08:59:59 PM

Quote from: AlexGR on March 01, 2014, 08:51:21 PM

I think I saw on the coins specs that the block reward is now halved at 2 years instead of 1

source?

https://github.com/evan82/darkcoin

What is DarkCoin?
DarkCoin is a lite version of Bitcoin using X11 as a proof-of-work algorithm.

Super secure hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)
Block reward is controlled by moore's law: (11111 / (((Difficulty+51)/6) ^ 2))
CPU only mining
Block generation: 2.5 minutes
Difficulty Retargets every 576 blocks
84 Million Coins Max
Block reward halving every 2 years
Encrypted transaction network: Work In Progress
Anonymous blockchain using coinjoin technology: Work In Progress

TanteStefana

full member

Activity: 280

Merit: 100

The Future Of Work

Quote from: TanteStefana on March 01, 2014, 06:56:26 PM

I'm sad, nobody has even noticed my libertarian commentary Sad

AlexGR

legendary

Activity: 1708

Merit: 1049

Quote from: Brilliantrocket on March 01, 2014, 09:16:49 PM

Quote from: AlexGR on March 01, 2014, 09:10:36 PM

There's more at stake than daily mining or who gets what. It's about future-proofing the coin so that it can have a clear and frozen number of max issuance where everybody knows how the game will play out, along with a timeline that will allow for smooth operation over a large time frame. The second component is critical as a clone could come and say "we are more future proof then darkcoin". Any of your weaknesses can be improved upon and rebranded to something better, so, knowing this, you do your best - leaving very few margins for improvement to uninventive copycats.

There are ways to future proof the coin that won't hurt early adopters like this change. Set the reward algorithm so that it caps out at something reasonable, say 10M after a set number of years. It should be us early believers who should be rewarded, the people who are actively contributing to the success of Dark.

Yes of course I agree it should cap but the period when this happens should be further in the future. Otherwise why would anyone mine after the capping? And if people don't mine, then how are you securing the network? You don't so you end up with a problematic network, unless the price is sooo large and transactions so many that miners can still make their expenses by mining transaction fees. That could happen, why not, but let's have everything covered either way.

As for the number of coins, 84m is good but I wouldn't object to a 21m scheme either - like BTC with a dark spin Tongue

TanteStefana

full member

Activity: 280

Merit: 100

The Future Of Work

Really, tabnk?

Seriously, slyA is correct, you need to turn off your computer for a while and go for a walk, please!

Brilliantrocket

hero member

Activity: 826

Merit: 500

Quote from: AlexGR on March 01, 2014, 09:10:36 PM

There's more at stake than daily mining or who gets what. It's about future-proofing the coin so that it can have a clear and frozen number of max issuance where everybody knows how the game will play out, along with a timeline that will allow for smooth operation over a large time frame. The second component is critical as a clone could come and say "we are more future proof then darkcoin". Any of your weaknesses can be improved upon and rebranded to something better, so, knowing this, you do your best - leaving very few margins for improvement to uninventive copycats.

There are ways to future proof the coin that won't hurt early adopters like this change. Set the reward algorithm so that it caps out at something reasonable, say 10M after a set number of years. It should be us early believers who should be rewarded, the people who are actively contributing to the success of Dark.

I just don't understand why the dev gave in to the trolls saying that Dark was premined. Yes, a good number of coins were mined in the first few months. However the people that mined those coins are what enabled the success of Dark ( Much credit to the dev). Why should some random miners who only came to Dark once it was safe and obviously valuable get the majority of its value?

Eduffield, I would really appreciate a response to this recent change. Why are you taking the majority of the reward away from us and giving it to future opportunists?

darkroad

newbie

Activity: 34

Merit: 0

Quote from: metstijl on March 01, 2014, 08:00:06 PM

We need a drugs market to succeed. Well , its already a succes.

DarkRoad BB should be up on darknet in the next couple days.
Integrated darkcoin marketplace is in the works.

If anyone is interested in working on this project contact me by bitmessage. I am looking for devs.

darkproton

hero member

Activity: 658

Merit: 500

indoor voice ....

tabnk

full member

Activity: 140

Merit: 100

DONT SELL IT AT 0.00166600 BTC. Only sell it at 0.025 BTC !@!!!!!

AlexGR

legendary

Activity: 1708

Merit: 1049

Quote from: Brilliantrocket on March 01, 2014, 09:05:48 PM

Quote from: AlexGR on March 01, 2014, 08:51:21 PM

Quote from: LimLims on March 01, 2014, 08:36:27 PM

Quote from: Brilliantrocket on March 01, 2014, 08:24:41 PM

Why was the coin changed from being scarce to more common? I'd prefer the old cap of around 10 million. What does the new cap do, other than limit the potential value of our coins? As it stands, it makes more sense to dump these coins once they get a little more hype. I really hate when devs pull this sort of shit. Bought my coins a few weeks ago , expecting to be part of a relatively rare coin, now they become 5x + more common? Great way to reward the people who believed in you, dev. Not all of us have the space to mine so this change is a big fuck you to all the non miners investing in Dark.

I know that I'll still profit, but with this dilution, I guess I'll have to start day trading. Dump after a big rise, buy back later once it drops.

Total market cap was initially 84M as it is now.

I think I saw on the coins specs that the block reward is now halved at 2 years instead of 1, so that would still be lower than 84m. Kind of solomon's solution to the problem of 10m vs 84m? The devs can explain it perhaps.

If it's at 2 years, someone do the math for 2 years. I think it's best to fix the number right now and forever, freezing it there for eternity so that no problem regarding inflation/deflation will arise in the future. These things tend to shake investor confidence. However I think what we also have to examine the incentive for mining. We don't want the coin to have no miners, in say, 10 years - that would be bad for the network and I'm sure that no matter how much an investor likes a scarce coin, they wouldn't want to hold a coin with a problematic network either.

The number of coins shouldn't affect the market cap, and thus it shouldn't affect whether a coin will have miners. Miners efficiently assort themselves among the various coins based on how much they make per day mining each coin. As long as a coin has value, miners will mine it. The only thing being decided here is who gets the value from the coin, early adopters who worked tirelessly to promote a coin and believed in it from the start, or opportunistic miners who don't care if they mine dogcoin, catcoin or shitcoin, as long as they get the best return?

There's more at stake than daily mining or who gets what. It's about future-proofing the coin so that it can have a clear and frozen number of max issuance where everybody knows how the game will play out, along with a timeline that will allow for smooth operation over a large time frame. The second component is critical as a clone could come and say "we are more future proof then darkcoin". Any of your weaknesses can be improved upon and rebranded to something better, so, knowing this, you do your best - leaving very few margins for improvement to uninventive copycats.

tabnk

full member

Activity: 140

Merit: 100

BIG BUY WALL @ 0.00166600 BTC

Brilliantrocket

hero member

Activity: 826

Merit: 500

Quote from: AlexGR on March 01, 2014, 08:51:21 PM

Quote from: LimLims on March 01, 2014, 08:36:27 PM

Quote from: Brilliantrocket on March 01, 2014, 08:24:41 PM

Why was the coin changed from being scarce to more common? I'd prefer the old cap of around 10 million. What does the new cap do, other than limit the potential value of our coins? As it stands, it makes more sense to dump these coins once they get a little more hype. I really hate when devs pull this sort of shit. Bought my coins a few weeks ago , expecting to be part of a relatively rare coin, now they become 5x + more common? Great way to reward the people who believed in you, dev. Not all of us have the space to mine so this change is a big fuck you to all the non miners investing in Dark.

I know that I'll still profit, but with this dilution, I guess I'll have to start day trading. Dump after a big rise, buy back later once it drops.

Total market cap was initially 84M as it is now.

I think I saw on the coins specs that the block reward is now halved at 2 years instead of 1, so that would still be lower than 84m. Kind of solomon's solution to the problem of 10m vs 84m? The devs can explain it perhaps.

If it's at 2 years, someone do the math for 2 years. I think it's best to fix the number right now and forever, freezing it there for eternity so that no problem regarding inflation/deflation will arise in the future. These things tend to shake investor confidence. However I think what we also have to examine the incentive for mining. We don't want the coin to have no miners, in say, 10 years - that would be bad for the network and I'm sure that no matter how much an investor likes a scarce coin, they wouldn't want to hold a coin with a problematic network either.

The number of coins shouldn't affect the market cap, and thus it shouldn't affect whether a coin will have miners. Miners efficiently assort themselves among the various coins based on how much they make per day mining each coin. As long as a coin has value, miners will mine it. The only thing being decided here is who gets the value from the coin, early adopters who worked tirelessly to promote DarkCoin and believed in it from the start, or opportunistic miners who don't care if they mine dogcoin, catcoin or shitcoin, as long as they get the best return? What this change does is it takes a large percent of that value away from us early adopters and hands it over to (future) miners. This is a change that hurts current holders of Dark severely. I can't believe more people aren't aware and upset about this. One troll complains that the coin was "premined" and the dev capitulates, costing us all a good portion of our potential profit.

My question is why is the dev punishing us like this? We believed in Dark from the start, why should miners who are taking zero risk be rewarded in our place?

LimLims

sr. member

Activity: 1204

Merit: 272

1xbit.com

Quote from: AlexGR on March 01, 2014, 08:51:21 PM

I think I saw on the coins specs that the block reward is now halved at 2 years instead of 1

source?

coins101

legendary

Activity: 1456

Merit: 1000

Quote from: heskey on March 01, 2014, 08:50:42 PM

Wow, that's not inappropriate at all. Are you joking or just trying to make us look bad?

sick. twisted.

AlexGR

legendary

Activity: 1708

Merit: 1049

Quote from: LimLims on March 01, 2014, 08:36:27 PM

Quote from: Brilliantrocket on March 01, 2014, 08:24:41 PM

Why was the coin changed from being scarce to more common? I'd prefer the old cap of around 10 million. What does the new cap do, other than limit the potential value of our coins? As it stands, it makes more sense to dump these coins once they get a little more hype. I really hate when devs pull this sort of shit. Bought my coins a few weeks ago , expecting to be part of a relatively rare coin, now they become 5x + more common? Great way to reward the people who believed in you, dev. Not all of us have the space to mine so this change is a big fuck you to all the non miners investing in Dark.

I know that I'll still profit, but with this dilution, I guess I'll have to start day trading. Dump after a big rise, buy back later once it drops.

Total market cap was initially 84M as it is now.

I think I saw on the coins specs that the block reward is now halved at 2 years instead of 1, so that would still be lower than 84m. Kind of solomon's solution to the problem of 10m vs 84m? The devs can explain it perhaps.

If it's at 2 years, someone do the math for 2 years. I think it's best to fix the number right now and forever, freezing it there for eternity so that no problem regarding inflation/deflation will arise in the future. These things tend to shake investor confidence. However I think what we also have to examine the incentive for mining. We don't want the coin to have no miners, in say, 10 years - that would be bad for the network and I'm sure that no matter how much an investor likes a scarce coin, they wouldn't want to hold a coin with a problematic network either.

heskey

sr. member

Activity: 406

Merit: 250

Wow, that's not inappropriate at all. Are you joking or just trying to make us look bad?

metstijl

full member

Activity: 126

Merit: 100

What about 'darkgarten'?

/nopedo

slyA

full member

Activity: 126

Merit: 100

Quote from: tabnk on March 01, 2014, 08:37:34 PM

Look the Exchange, there are a lot DUMPERs dumping at 0.0016 BTC. They can't wait but WE will HOLD IT. Grin

Mate. Step away from the screen. You are seriously obsessed with the price. I am genuinely scared you might do something to yourself if this coin dips.

Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 6722. (Read 9723787 times)