Topic: Darkcoin --> DASH, some unanswered questions (Read 1798 times)
Darkcoin operates like a somewhat broken version of CoinJoin on the normal Bitcoin client by Coinbrief.net
After reading Evan's announcement, i got to thinking and there are some thoughts i'd like to share:
Below are statements on which i have concerns :-
Bitcoin isn’t perfectly fungible. This means that over long periods of time, Bitcoin will lose it’s fungibility due to coins being tainted by their use. Coins in the Bitcoin system carry their history around with them and that will make them “tainted” as compared to other coins.
While solving this problem, I eventually found we could create a secondary network within Darkcoin, this network would provide services to keep all of the coins fungible and at the same time could offer other services as well. Services such as protocol 2 factor authentication, instant transactions and now scalability.
Personally I believe the 1-tier approach used by Bitcoin and other currencies isn’t as powerful as a 2-tier approach. I also believe the no one besides a few people have even yet to understand what a 2-tier cryptographic currency is capable of.
The Bitcoin developers and community are talking about expanding the maximum blockchain size to 20MB. Currently the Bitcoin network can handle 7 transactions per second. This will allow their currency to 140 transactions per second, but will also result in up to 1TB per year in blockchain storage (until they successfully implement pruning).
After giving it some thought, I came up with a scalable architecture that supports billions of transactions per day.
Specifications of this strategy:
The blockchain will automatically become much more anonymous than Bitcoin is.
Fees per transaction will be very, very low. Let the micro-payment revolution begin.
Zero-centralization
Scalable to billions of transactions per day
Requires a 2-tier network
Very low blockchain bloat
1) From a technical point of view these changes are INCOMPATIBLE with the Darkcoin code/blockchain. i actually find it surprising that some vaunted dark fans haven't noticed this.
Below are statements on which i have concerns :-
Quote
Bitcoin isn’t perfectly fungible. This means that over long periods of time, Bitcoin will lose it’s fungibility due to coins being tainted by their use. Coins in the Bitcoin system carry their history around with them and that will make them “tainted” as compared to other coins.
While solving this problem, I eventually found we could create a secondary network within Darkcoin, this network would provide services to keep all of the coins fungible and at the same time could offer other services as well. Services such as protocol 2 factor authentication, instant transactions and now scalability.
Personally I believe the 1-tier approach used by Bitcoin and other currencies isn’t as powerful as a 2-tier approach. I also believe the no one besides a few people have even yet to understand what a 2-tier cryptographic currency is capable of.
The Bitcoin developers and community are talking about expanding the maximum blockchain size to 20MB. Currently the Bitcoin network can handle 7 transactions per second. This will allow their currency to 140 transactions per second, but will also result in up to 1TB per year in blockchain storage (until they successfully implement pruning).
After giving it some thought, I came up with a scalable architecture that supports billions of transactions per day.
Specifications of this strategy:
The blockchain will automatically become much more anonymous than Bitcoin is.
Fees per transaction will be very, very low. Let the micro-payment revolution begin.
Zero-centralization
Scalable to billions of transactions per day
Requires a 2-tier network
Very low blockchain bloat
1) From a technical point of view these changes are INCOMPATIBLE with the Darkcoin code/blockchain. i actually find it surprising that some vaunted dark fans haven't noticed this.
Was Darksend incompatible with earlier Darkcoin code / blockchain ?
Was InstantX incompatible with earlier Darkcoin code / blockchain ?
Is Masternode Blinding incompatible with earlier Darkcoin code / blockchain ?
All it seems to require is a 2-tier network, which DASH / Darkcoin already has (Proof of Work and Proof of Service)
and investigation if its viable or not to code. If its viable then all thats needed is adjustment of current code, which DASH / Darkcoin is not unfamiliar with.
i think in time we will get to see more about this in the form of a whitepaper or something, till then .. patience.
I do agree that it is interesting stuff to discuss
Like i said this needs a true technical understanding.
Your above examples are irrelevant (sorry to sound rude) from a technical point of view i can dream up a hundred of possibilities.
But the stuff i mentioned is so drastic, that I just cannot see how he intends to do this. The very nature of BTC based txs..scaled to billions?
Low blockchain bloat while maintaining an actual blockchain of billions of tx???
All on btc codebase ? meh
After reading Evan's announcement, i got to thinking and there are some thoughts i'd like to share:
Below are statements on which i have concerns :-
Bitcoin isn’t perfectly fungible. This means that over long periods of time, Bitcoin will lose it’s fungibility due to coins being tainted by their use. Coins in the Bitcoin system carry their history around with them and that will make them “tainted” as compared to other coins.
While solving this problem, I eventually found we could create a secondary network within Darkcoin, this network would provide services to keep all of the coins fungible and at the same time could offer other services as well. Services such as protocol 2 factor authentication, instant transactions and now scalability.
Personally I believe the 1-tier approach used by Bitcoin and other currencies isn’t as powerful as a 2-tier approach. I also believe the no one besides a few people have even yet to understand what a 2-tier cryptographic currency is capable of.
The Bitcoin developers and community are talking about expanding the maximum blockchain size to 20MB. Currently the Bitcoin network can handle 7 transactions per second. This will allow their currency to 140 transactions per second, but will also result in up to 1TB per year in blockchain storage (until they successfully implement pruning).
After giving it some thought, I came up with a scalable architecture that supports billions of transactions per day.
Specifications of this strategy:
The blockchain will automatically become much more anonymous than Bitcoin is.
Fees per transaction will be very, very low. Let the micro-payment revolution begin.
Zero-centralization
Scalable to billions of transactions per day
Requires a 2-tier network
Very low blockchain bloat
1) From a technical point of view these changes are INCOMPATIBLE with the Darkcoin code/blockchain. i actually find it surprising that some vaunted dark fans haven't noticed this.
Below are statements on which i have concerns :-
Quote
Bitcoin isn’t perfectly fungible. This means that over long periods of time, Bitcoin will lose it’s fungibility due to coins being tainted by their use. Coins in the Bitcoin system carry their history around with them and that will make them “tainted” as compared to other coins.
While solving this problem, I eventually found we could create a secondary network within Darkcoin, this network would provide services to keep all of the coins fungible and at the same time could offer other services as well. Services such as protocol 2 factor authentication, instant transactions and now scalability.
Personally I believe the 1-tier approach used by Bitcoin and other currencies isn’t as powerful as a 2-tier approach. I also believe the no one besides a few people have even yet to understand what a 2-tier cryptographic currency is capable of.
The Bitcoin developers and community are talking about expanding the maximum blockchain size to 20MB. Currently the Bitcoin network can handle 7 transactions per second. This will allow their currency to 140 transactions per second, but will also result in up to 1TB per year in blockchain storage (until they successfully implement pruning).
After giving it some thought, I came up with a scalable architecture that supports billions of transactions per day.
Specifications of this strategy:
The blockchain will automatically become much more anonymous than Bitcoin is.
Fees per transaction will be very, very low. Let the micro-payment revolution begin.
Zero-centralization
Scalable to billions of transactions per day
Requires a 2-tier network
Very low blockchain bloat
1) From a technical point of view these changes are INCOMPATIBLE with the Darkcoin code/blockchain. i actually find it surprising that some vaunted dark fans haven't noticed this.
Was Darksend incompatible with earlier Darkcoin code / blockchain ?
Was InstantX incompatible with earlier Darkcoin code / blockchain ?
Is Masternode Blinding incompatible with earlier Darkcoin code / blockchain ?
All it seems to require is a 2-tier network, which DASH / Darkcoin already has (Proof of Work and Proof of Service)
and investigation if its viable or not to code. If its viable then all thats needed is adjustment of current code, which DASH / Darkcoin is not unfamiliar with.
i think in time we will get to see more about this in the form of a whitepaper or something, till then .. patience.
I do agree that it is interesting stuff to discuss
iCEBREAKER i'm laughing of your signature
I already considered several times to buy darkcoin, but all the controversy are keeping me away from it... i didnt realise that alrady exist one coin with the name Dashcoin, its not ethical at all, and tell alot about the dev.. all the links you have on your signature are the reason because i am still away from it, even knowing that i could have 20x the value of the investment that i think in made back then i think i will just keep away... i believe that the main reason for the price beeing so high is the greed for masternodes alone, but everything else just dont fit in my personality
I already considered several times to buy darkcoin, but all the controversy are keeping me away from it... i didnt realise that alrady exist one coin with the name Dashcoin, its not ethical at all, and tell alot about the dev.. all the links you have on your signature are the reason because i am still away from it, even knowing that i could have 20x the value of the investment that i think in made back then i think i will just keep away... i believe that the main reason for the price beeing so high is the greed for masternodes alone, but everything else just dont fit in my personality
Thanks, glad I could help!
iCEBREAKER i'm laughing of your signature
I already considered several times to buy darkcoin, but all the controversy are keeping me away from it... i didnt realise that alrady exist one coin with the name Dashcoin, its not ethical at all, and tell alot about the dev.. all the links you have on your signature are the reason because i am still away from it, even knowing that i could have 20x the value of the investment that i think in made back then i think i will just keep away... i believe that the main reason for the price beeing so high is the greed for masternodes alone, but everything else just dont fit in my personality
I already considered several times to buy darkcoin, but all the controversy are keeping me away from it... i didnt realise that alrady exist one coin with the name Dashcoin, its not ethical at all, and tell alot about the dev.. all the links you have on your signature are the reason because i am still away from it, even knowing that i could have 20x the value of the investment that i think in made back then i think i will just keep away... i believe that the main reason for the price beeing so high is the greed for masternodes alone, but everything else just dont fit in my personality
Quote
After giving it some thought, I came up with a scalable architecture that supports billions of transactions per day.
Specifications of this strategy:
The blockchain will automatically become much more anonymous than Bitcoin is.
Fees per transaction will be very, very low. Let the micro-payment revolution begin.
Zero-centralization
Scalable to billions of transactions per day
Requires a 2-tier network
Very low blockchain bloat
Specifications of this strategy:
The blockchain will automatically become much more anonymous than Bitcoin is.
Fees per transaction will be very, very low. Let the micro-payment revolution begin.
Zero-centralization
Scalable to billions of transactions per day
Requires a 2-tier network
Very low blockchain bloat
1) From a technical point of view these changes are INCOMPATIBLE with the Darkcoin code/blockchain. i actually find it surprising that some vaunted dark fans haven't noticed this.
2) This leaves DRK holders in a precarious position which needs to be clarified ASAP
i) Should we expect a chain swap?
ii) Or is this new coin going to be a separate endeavor from DRK/DASH?
iii) Even if it is a different coin, will you bring DRK balances along or are you looking at a fresh start, with a possible new premine/instamine?
3) This may leave some glorious bagholding if 1) and 2) are true when people realize that the ideas he is pursuing mean abandoning the DRK block chain.
Don't get me wrong, i like DRK and supported it a while but these things are serious issues that need clarification as soon as possible.
If Evan wanted to make a Visa-killing RetailCoin, why not launch it as an independent project and let Darkcoin continue to follow its own path?
There are no good answers to this question, but here are some bad ones:
-Evan planned to exploit naive Dark fanboys' money and enthusiasm for launching his RetailCoin all along, knowing they would have no recourse but to clap louder when the rebranding was pushed through.
-Evan realized the Dark HYIP Ponzi scheme needed to 'go legit' at some point, before he got in trouble with his local/national TLAs.
-Evan realized security-though-obscurity trusted 3rd party obfuscation schemes were a dead end, and Visa-killers are all the rage with the VC big $$$$ crowd.
It's amazing so many people are loyal to Some Dude, despite his project constantly shifting its privacy technology and now abandoning the brand that formerly united DRK's parade of borrowed obfuscation techniques.
It's increasingly clear DASH for legal reasons will never succeed in gaining a trademark, so expect another sudden autocratic rebrand when Dear Leader groks that reality.
After reading Evan's announcement, i got to thinking and there are some thoughts i'd like to share:
Below are statements on which i have concerns :-
Bitcoin isn’t perfectly fungible. This means that over long periods of time, Bitcoin will lose it’s fungibility due to coins being tainted by their use. Coins in the Bitcoin system carry their history around with them and that will make them “tainted” as compared to other coins.
While solving this problem, I eventually found we could create a secondary network within Darkcoin, this network would provide services to keep all of the coins fungible and at the same time could offer other services as well. Services such as protocol 2 factor authentication, instant transactions and now scalability.
Personally I believe the 1-tier approach used by Bitcoin and other currencies isn’t as powerful as a 2-tier approach. I also believe the no one besides a few people have even yet to understand what a 2-tier cryptographic currency is capable of.
The Bitcoin developers and community are talking about expanding the maximum blockchain size to 20MB. Currently the Bitcoin network can handle 7 transactions per second. This will allow their currency to 140 transactions per second, but will also result in up to 1TB per year in blockchain storage (until they successfully implement pruning).
After giving it some thought, I came up with a scalable architecture that supports billions of transactions per day.
Specifications of this strategy:
The blockchain will automatically become much more anonymous than Bitcoin is.
Fees per transaction will be very, very low. Let the micro-payment revolution begin.
Zero-centralization
Scalable to billions of transactions per day
Requires a 2-tier network
Very low blockchain bloat
1) From a technical point of view these changes are INCOMPATIBLE with the Darkcoin code/blockchain. i actually find it surprising that some vaunted dark fans haven't noticed this.
2) This leaves DRK holders in a precarious position which needs to be clarified ASAP
i) Should we expect a chain swap?
ii) Or is this new coin going to be a separate endeavor from DRK/DASH?
iii) Even if it is a different coin, will you bring DRK balances along or are you looking at a fresh start, with a possible new premine/instamine?
3) This may leave some glorious bagholding if 1) and 2) are true when people realize that the ideas he is pursuing mean abandoning the DRK block chain.
Don't get me wrong, i like DRK and supported it a while but these things are serious issues that need clarification as soon as possible.
Below are statements on which i have concerns :-
Quote
Bitcoin isn’t perfectly fungible. This means that over long periods of time, Bitcoin will lose it’s fungibility due to coins being tainted by their use. Coins in the Bitcoin system carry their history around with them and that will make them “tainted” as compared to other coins.
While solving this problem, I eventually found we could create a secondary network within Darkcoin, this network would provide services to keep all of the coins fungible and at the same time could offer other services as well. Services such as protocol 2 factor authentication, instant transactions and now scalability.
Personally I believe the 1-tier approach used by Bitcoin and other currencies isn’t as powerful as a 2-tier approach. I also believe the no one besides a few people have even yet to understand what a 2-tier cryptographic currency is capable of.
The Bitcoin developers and community are talking about expanding the maximum blockchain size to 20MB. Currently the Bitcoin network can handle 7 transactions per second. This will allow their currency to 140 transactions per second, but will also result in up to 1TB per year in blockchain storage (until they successfully implement pruning).
After giving it some thought, I came up with a scalable architecture that supports billions of transactions per day.
Specifications of this strategy:
The blockchain will automatically become much more anonymous than Bitcoin is.
Fees per transaction will be very, very low. Let the micro-payment revolution begin.
Zero-centralization
Scalable to billions of transactions per day
Requires a 2-tier network
Very low blockchain bloat
1) From a technical point of view these changes are INCOMPATIBLE with the Darkcoin code/blockchain. i actually find it surprising that some vaunted dark fans haven't noticed this.
2) This leaves DRK holders in a precarious position which needs to be clarified ASAP
i) Should we expect a chain swap?
ii) Or is this new coin going to be a separate endeavor from DRK/DASH?
iii) Even if it is a different coin, will you bring DRK balances along or are you looking at a fresh start, with a possible new premine/instamine?
3) This may leave some glorious bagholding if 1) and 2) are true when people realize that the ideas he is pursuing mean abandoning the DRK block chain.
Don't get me wrong, i like DRK and supported it a while but these things are serious issues that need clarification as soon as possible.
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