Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 6818. (Read 9723597 times)

Quote from: CHAOSiTEC on February 22, 2014, 07:41:44 AM

So what's the rationale for this block reward system? (11111 / (((Difficulty+51)/6) ^ 2))

As I understand it, the TOTAL distribution per unit time will come crashing down as network hashrate goes up. Not to mention each miner is getting a tinier slice. That's rather discouraging.

Apart from Darksend, I think this is the best feature of the coin. All other altcoins become diluted if they doesn't become a instant success like Dogecoin.

So the early adopter edge becomes even more overwhelming? Nice way to kill a coin. An exchange medium is only worth something if others agree and also have a stake. We'll just end up a small group of hoarders waiting around for something to happen. Reminds me of QRK.

That is overstating things. Reading through the thread, it is abundantly clear that the devs and other early adopters believe in the coin and are not planning a massive dump.

IMO this is a feature -- not a problem or a scam. Basically, it allows for the devs to have a more fine control over how the coin is released into the market; and thus prevents a “mid-life” dump via multipools and whale miners that troubles many a coin once the price starts to rise. As mentioned above, if a coin is super-popular from the beginning like Doge then there is no problem as it gets distributed to a wide range of miners. Even if whales or whatnot show up later there is a big enough dedicated mining community that in effect prevents these entities from negatively effecting the market.

On the other hand, coins that don't blow up from the beginning and slowly rise in price due to the efforts of the early adopters, inevitably get attacked by these whales/mutlipools -- and the diff increase alone never seems to be enough to prevent a ton of coins of entering the hands of the few. When these coins get dumped... the market crashes. The way Darkcoin is currently set up this cannot happen. And yes, even though Darkcoin is multipool resistant – it is still vulnerable to whales (it was actually getting hammered before the diff /reward system was enhanced by KGW).

Now, I know it may seem unfair to latecomer miners and some trolls even went as far as trying to discourage people by calling this a instamine. But the thing is... the vast majority of coins have a high percentage owned by early adopters. That is the reward they get for believing in the coin before anybody else. Due to the diff/reward system Darkcoin might be a little more extreme, but as I just explained that system has a very important purpose.

This is a fair coin. The diff/reward is a feature that allows more fine control over how much coin is released into the market and thus prevents manipulation by dumpers.

Not really mate. If a large percent of coins is being held by a select few then this coin is in jeopardy sorry to say. We can wax poetic all we want about how people believe in this coin but that is just not true. A quick look at the charts wil tell you how trigger happy the so called early adopters are in dumping this coin. Greed rules this free market and lets not bury our heads in the sand here.

The early adopters can and are currently molesting the price to a stand still unfortunately and that is turning away investors and miners. As long as we are still on small exchanges, this will continue and when we eventually hit big exchanges, I expect there to be a huge dump because people are greedy and that is the honest truth.

well seems like i have to chime in here, as an early adopter, believing in this coin, i have earned a nice load of coin, but i have also given away aproximatly 40% of it, either as part of lotterymining.com, as competition for designing a logo for my pool, and also the faucet, so to say that the early adopters are just going to dump the horded load, is bullshit, some will, thats human nature, but some do believe in it, and have worked hard to help everyone else that came and wanted to mine, i look at what i have left as "payment for the unaccounted hours" ive used to help others. so please refrain from putting everyone into the same box!

Those lottery mining logos, they set you back 2000$+ as of today! Could have had some amazing logo work done for that price Tongue

yep, but for me it wasnt about the money, but the value of publicity for my pool :-)

anonymousxx1503

hero member

Activity: 532

Merit: 500

Quote from: slyA on February 22, 2014, 07:33:46 AM

Quote from: JGCMiner on February 22, 2014, 07:27:27 AM

Quote from: TingCoin on February 22, 2014, 08:45:34 AM

So what's the rationale for this block reward system? (11111 / (((Difficulty+51)/6) ^ 2))

As I understand it, the TOTAL distribution per unit time will come crashing down as network hashrate goes up. Not to mention each miner is getting a tinier slice. That's rather discouraging.

Apart from Darksend, I think this is the best feature of the coin. All other altcoins become diluted if they doesn't become a instant success like Dogecoin.

So the early adopter edge becomes even more overwhelming? Nice way to kill a coin. An exchange medium is only worth something if others agree and also have a stake. We'll just end up a small group of hoarders waiting around for something to happen. Reminds me of QRK.

That is overstating things. Reading through the thread, it is abundantly clear that the devs and other early adopters believe in the coin and are not planning a massive dump.

IMO this is a feature -- not a problem or a scam. Basically, it allows for the devs to have a more fine control over how the coin is released into the market; and thus prevents a “mid-life” dump via multipools and whale miners that troubles many a coin once the price starts to rise. As mentioned above, if a coin is super-popular from the beginning like Doge then there is no problem as it gets distributed to a wide range of miners. Even if whales or whatnot show up later there is a big enough dedicated mining community that in effect prevents these entities from negatively effecting the market.

On the other hand, coins that don't blow up from the beginning and slowly rise in price due to the efforts of the early adopters, inevitably get attacked by these whales/mutlipools -- and the diff increase alone never seems to be enough to prevent a ton of coins of entering the hands of the few. When these coins get dumped... the market crashes. The way Darkcoin is currently set up this cannot happen. And yes, even though Darkcoin is multipool resistant – it is still vulnerable to whales (it was actually getting hammered before the diff /reward system was enhanced by KGW).

Now, I know it may seem unfair to latecomer miners and some trolls even went as far as trying to discourage people by calling this a instamine. But the thing is... the vast majority of coins have a high percentage owned by early adopters. That is the reward they get for believing in the coin before anybody else. Due to the diff/reward system Darkcoin might be a little more extreme, but as I just explained that system has a very important purpose.

This is a fair coin. The diff/reward is a feature that allows more fine control over how much coin is released into the market and thus prevents manipulation by dumpers.

Not really mate. If a large percent of coins is being held by a select few then this coin is in jeopardy sorry to say. We can wax poetic all we want about how people believe in this coin but that is just not true. A quick look at the charts wil tell you how trigger happy the so called early adopters are in dumping this coin. Greed rules this free market and lets not bury our heads in the sand here.

The early adopters can and are currently molesting the price to a stand still unfortunately and that is turning away investors and miners. As long as we are still on small exchanges, this will continue and when we eventually hit big exchanges, I expect there to be a huge dump because people are greedy and that is the honest truth.

well seems like i have to chime in here, as an early adopter, believing in this coin, i have earned a nice load of coin, but i have also given away aproximatly 40% of it, either as part of lotterymining.com, as competition for designing a logo for my pool, and also the faucet, so to say that the early adopters are just going to dump the horded load, is bullshit, some will, thats human nature, but some do believe in it, and have worked hard to help everyone else that came and wanted to mine, i look at what i have left as "payment for the unaccounted hours" ive used to help others. so please refrain from putting everyone into the same box!

Those lottery mining logos, they set you back 2000$+ as of today! Could have had some amazing logo work done for that price Tongue

Corazon79

newbie

Activity: 46

Merit: 0

My Darkcoin wallet just disappeared from my PC.

Does anybody know why that happened? When I go into start, run, and type %Appdata%, I can see that the Darkcoin folder and its contents are still on my computer. Which is a relief.

The problem is that since switching off the PC and booting up again, the Darkcoin wallet itself is no longer there. Which files in the Darkcoin folder are relevant to opening up the wallet again, and how do I do it?

chompyZ

sr. member

Activity: 291

Merit: 250

Quote from: CHAOSiTEC on February 22, 2014, 08:43:44 AM

Quote from: chompyZ on February 22, 2014, 07:46:25 AM

Quote from: Coin-Moron on February 21, 2014, 05:02:35 PM

Quote from: damiano on February 21, 2014, 05:00:01 PM

Quote from: Coin-Moron on February 21, 2014, 04:53:12 PM

Quote from: Lebubar on February 21, 2014, 04:47:53 PM

Hello,

I've got a question for buying BTC.
As I think it's low, I was thinking in buying BTC with $.

But what I saw in coinbase : Bank Accounts Used to buy and sell bitcoins — U.S. only
Can't use visa credit card there?

I already try the VirWox.. They closed/banned my account directly because I was suspicious lol.. They never told me why, the country?

What? Huh

For information I'm French living in Mexico.

How can I do to buy BTC with fiat? I never did it, always haing BTC by mining other coin....

If you do have credit card, i can refer a good merchant.

Who else takes CC?

Sorry . . They stopped accepting .

I saw ads from these guys, claiming they sell crypto for paypal / cc.
never tried them. if you do try them and it works fine, drop some feedback.
http://www.burnerbrothers.com/buydogecoin/

if you buy 5000 Doge for 100$ from them, and sell them you get: 0.01080000 BTC

if you but fro 100$ bitcoins you get: 0.17168182 BTC

so you will get $6.25 worth of coins out of $100, i hope no one is using them

Such exploitation! Tongue

WOW!
I didn't go as far as checking their rates.
this is pure robbery.
ppl have no shame Sad

lazycoins

member

Activity: 98

Merit: 10

Hi Guys,

Just wanted to drop by and let you guys know that we are considering adding DarkCoin to our exchange to be traded at launch, which will probably be the biggest launch for any altcoin exchange yet. Since our announcement 4 days ago we have already had few hundred followers and twelve altcoins added. Follow us on twitter https://twitter.com/LazyCoins and vote.

https://bitcointalksearch.org/topic/ann-lazycoins-crypto-currency-exchange-beta-launched-21st-july-2014-471779

blueforever

member

Activity: 62

Merit: 10

Quote from: slyA on February 22, 2014, 08:02:48 AM

Quote from: wonko86 on February 22, 2014, 07:59:24 AM

Have a nice dark chunk of DRK. Haven't sold any of them.

Wish I had more money so I could buy more DRK.

Selling dark to buy dark? That's very dark mate.

I do this from time to time. Grin

TingCoin

hero member

Activity: 720

Merit: 500

Quote from: CHAOSiTEC on February 22, 2014, 08:43:44 AM

Quote from: chompyZ on February 22, 2014, 07:46:25 AM

Quote from: Coin-Moron on February 21, 2014, 05:02:35 PM

Quote from: damiano on February 21, 2014, 05:00:01 PM

Quote from: Coin-Moron on February 21, 2014, 04:53:12 PM

Quote from: Lebubar on February 21, 2014, 04:47:53 PM

Hello,

I've got a question for buying BTC.
As I think it's low, I was thinking in buying BTC with $.

But what I saw in coinbase : Bank Accounts Used to buy and sell bitcoins — U.S. only
Can't use visa credit card there?

I already try the VirWox.. They closed/banned my account directly because I was suspicious lol.. They never told me why, the country?

What? Huh

For information I'm French living in Mexico.

How can I do to buy BTC with fiat? I never did it, always haing BTC by mining other coin....

If you do have credit card, i can refer a good merchant.

Who else takes CC?

Sorry . . They stopped accepting .

I saw ads from these guys, claiming they sell crypto for paypal / cc.
never tried them. if you do try them and it works fine, drop some feedback.
http://www.burnerbrothers.com/buydogecoin/

if you buy 5000 Doge for 100$ from them, and sell them you get: 0.01080000 BTC

if you but fro 100$ bitcoins you get: 0.17168182 BTC

so you will get $6.25 worth of coins out of $100, i hope no one is using them

Such exploitation! Tongue

CHAOSiTEC

legendary

Activity: 1358

Merit: 1002

Quote from: chompyZ on February 22, 2014, 07:46:25 AM

Quote from: Coin-Moron on February 21, 2014, 05:02:35 PM

Quote from: damiano on February 21, 2014, 05:00:01 PM

Quote from: Coin-Moron on February 21, 2014, 04:53:12 PM

Quote from: Lebubar on February 21, 2014, 04:47:53 PM

Hello,

I've got a question for buying BTC.
As I think it's low, I was thinking in buying BTC with $.

But what I saw in coinbase : Bank Accounts Used to buy and sell bitcoins — U.S. only
Can't use visa credit card there?

I already try the VirWox.. They closed/banned my account directly because I was suspicious lol.. They never told me why, the country?

What? Huh

For information I'm French living in Mexico.

How can I do to buy BTC with fiat? I never did it, always haing BTC by mining other coin....

If you do have credit card, i can refer a good merchant.

Who else takes CC?

Sorry . . They stopped accepting .

I saw ads from these guys, claiming they sell crypto for paypal / cc.
never tried them. if you do try them and it works fine, drop some feedback.
http://www.burnerbrothers.com/buydogecoin/

if you buy 5000 Doge for 100$ from them, and sell them you get: 0.01080000 BTC

if you but fro 100$ bitcoins you get: 0.17168182 BTC

so you will get $6.25 worth of coins out of $100, i hope no one is using them

wonko86

legendary

Activity: 1624

Merit: 1024

Quote from: slyA on February 22, 2014, 08:02:48 AM

Quote from: wonko86 on February 22, 2014, 07:59:24 AM

Have a nice dark chunk of DRK. Haven't sold any of them.

Wish I had more money so I could buy more DRK.

Selling dark to buy dark? That's very dark mate.

I meant that I also have a large sum of drk and has't sold any but wish I could buy more Grin

slyA

full member

Activity: 126

Merit: 100

Quote from: wonko86 on February 22, 2014, 07:59:24 AM

Have a nice dark chunk of DRK. Haven't sold any of them.

Wish I had more money so I could buy more DRK.

Selling dark to buy dark? That's very dark mate.

meebs

hero member

Activity: 616

Merit: 500

Quote from: DRKenstone on February 21, 2014, 11:31:48 PM

CPU DRK mining question:

I'm using the fantastic darkCoin-cpuminer-1.3-avx-aes-windows-binaries, with these settings:

Code:

minerd-corei7-avx -a X11 -o stratum+tcp://drk.lotterymining.com:4444 -u username -p password -t 8 -q

My proc: Intel Core i7-3770K, 3.50 GHz

I've been consistently getting 490+ khash/s with those settings, which I think is pretty great, but I'm not sure what others are getting with the same or similar proc.

I've been consistently getting lines like this:

Code:

[2014-02-21 22:01:06] accepted: 43/43 (100.00%), 490.02 khash/s (yay!!!)

But as of this morning and after about 50/50, I've been getting lines like this:

Code:

[2014-02-21 22:22:17] accepted: 77/78 (98.72%), 486.72 khash/s (yay!!!)

Concerning that percentage, 1) what does it mean exactly, and 2) why all of a sudden (after about 2 weeks worth of mining) am I getting less than 100%?

Thanks in advance for helping me with my n00b question! Wink

That's what I am getting as well at 3.7 ghz.

Percentage is accepted shares percent.

wonko86

legendary

Activity: 1624

Merit: 1024

Have a nice dark chunk of DRK. Haven't sold any of them.

Wish I had more money so I could buy more DRK.

LimLims

sr. member

Activity: 1204

Merit: 272

1xbit.com

Personally I would be very surprised to see a dump. I'm a relatively early adopter and I have a fair chunk of DRK. There's no way in hell I'm dumping when it hits the bigger exchanges. I still think DRK is under-hyped and under-valued. As demand ramps up and speculators get on board, price will begin to catch up with the current rate of growth in hashing power. Given that miners are generally ahead of the game compared with investors, it makes sense that price will lag behind difficulty. Give it time. Being under-valued and over-hashed is good; it makes people less likely to dump for cheap.

slyA

full member

Activity: 126

Merit: 100

well seems like i have to chime in here, as an early adopter, believing in this coin, i have earned a nice load of coin, but i have also given away aproximatly 40% of it, either as part of lotterymining.com, as competition for designing a logo for my pool, and also the faucet, so to say that the early adopters are just going to dump the horded load, is bullshit, some will, thats human nature, but some do believe in it, and have worked hard to help everyone else that came and wanted to mine, i look at what i have left as "payment for the unaccounted hours" ive used to help others. so please refrain from putting everyone into the same box!

Apologies if you took offense at that but you can only speak for yourself not the other early adopters.

AlexGR

legendary

Activity: 1708

Merit: 1049

Quote from: mannie on February 22, 2014, 02:14:49 AM

So what's the rationale for this block reward system? (11111 / (((Difficulty+51)/6) ^ 2))

As I understand it, the TOTAL distribution per unit time will come crashing down as network hashrate goes up. Not to mention each miner is getting a tinier slice. That's rather discouraging.

Apart from Darksend, I think this is the best feature of the coin. All other altcoins become diluted if they doesn't become a instant success like Dogecoin.

So the early adopter edge becomes even more overwhelming? Nice way to kill a coin. An exchange medium is only worth something if others agree and also have a stake. We'll just end up a small group of hoarders waiting around for something to happen. Reminds me of QRK.

QRK? There are like 81 out of 84m coins to be mined.

At, say, 10.000 coins per day, in the next year a further 3.6m coins will be mined.

mannie

full member

Activity: 168

Merit: 100

Quote from: eduffield on February 22, 2014, 01:58:01 AM

Quote from: mannie on February 21, 2014, 11:33:50 PM

I'm not sure if anyone else has worked on this but I've created a draft media release about DarkCoin and the testing. I think it's important to get the word out now that DarkSend is in development and then follow up with another release once DarkSend is active.

I'm not the most tech savvy person so would appreciate some help if I've got anything wrong but it may be better for it to be in layman's language considering the readers will largely be non tech media (and consumers of media)!

I think it needs a quote from the Dev so I've added space in there for that. Someone also needs to be the media contact (also Dev?).

Also, it would be good to start a mailing list of media (reporters who are currently covering Bitcoin and others) to send these releases to. Maybe someone could start a spreadsheet on Google docs or something?

Here is the draft release:

http://pastebin.com/UYRDqkRt

This is great, thanks! Here's an edited version with a quote from me. Let me know if you need anything else

http://pastebin.com/2uFZ6R5g

Thanks! Very happy with the edits and quote. I've cleaned it up a little and pasted a new version. Any more suggestions out there? And anyone want to start a mailing list?

http://pastebin.com/HjrXLCfg

Here is a start to the media mailing list of people who have written about crypto. Does anyone know how to share a list publicly so anyone can add to it?

http://pastebin.com/DMWjmqG2

chompyZ

sr. member

Activity: 291

Merit: 250

Quote from: Coin-Moron on February 21, 2014, 05:02:35 PM

Quote from: damiano on February 21, 2014, 05:00:01 PM

Quote from: Coin-Moron on February 21, 2014, 04:53:12 PM

Quote from: Lebubar on February 21, 2014, 04:47:53 PM

Hello,

I've got a question for buying BTC.
As I think it's low, I was thinking in buying BTC with $.

But what I saw in coinbase : Bank Accounts Used to buy and sell bitcoins — U.S. only
Can't use visa credit card there?

I already try the VirWox.. They closed/banned my account directly because I was suspicious lol.. They never told me why, the country?

What? Huh

For information I'm French living in Mexico.

How can I do to buy BTC with fiat? I never did it, always haing BTC by mining other coin....

If you do have credit card, i can refer a good merchant.

Who else takes CC?

Sorry . . They stopped accepting .

I saw ads from these guys, claiming they sell crypto for paypal / cc.
never tried them. if you do try them and it works fine, drop some feedback.
http://www.burnerbrothers.com/buydogecoin/

CHAOSiTEC

legendary

Activity: 1358

Merit: 1002

Quote from: slyA on February 22, 2014, 07:33:46 AM

Quote from: JGCMiner on February 22, 2014, 07:27:27 AM