Topic: Darkcoin will hit 3$ (at least) by the end of this week! (Read 2608 times)

I am not getting involved in this hype so good luck everybody.

I am not getting involved in this hype so good luck everybody.

Thanks for the followup info. That explains the opensource reasoning.

And that may also explain why other coins didn't accept zerocoin's previous offer of sharing the tech for use in an existing coin. If I remember right, their initial goal wasn't to be a coin by itself, but to be incorporated into an already existing coin.

And yeah, Darkcoin does sound better.

I have also wondered if Fedora Tips could be considered a competitor, in regard to anonymous sending. But I then wondered if a coin has billions and billions out there and is used primarily for tiny, tiny tip transactions, why do you need to be anonymous to begin with? I don't think people sending 1/10th of a penny would really care if anyone knows who sent it.

Didn't mean to be harsh. One does get jaded by new coins that make astronomical gains in hours and days. Its obvious the pump&dump mentality is hard at work. I do hope Darkcoin stands the test of time.

I have mined this coin a little bit and do like the fundamentals, but have a general question or two.

I may be wrong, but didn't the developers say they plan to opensource the 'darksend' tech? If so, wouldn't that seem counter-intuitive to making this coin unique?

How does Darkcoin differ from Zerocoin? Well, besides the obvious, that Zerocoin hasn't been released yet.

I’ve heard some chatter and misconceptions about the difference between Darkcoin vs Zerocoin, so here’s a write up about the pros and cons of each approach and what they do differently.

Darkcoin

First off, most people start by asking is DarkSend actually real and does it work? Yes! Checkout the development progress here: https://bitcointalksearch.org/topic/anndrk-darkcoin-darksend-anonymous-technology-pre-alpha-launch-467857

DarkSend is based off of Greg Maxwells original idea called Coinjoin, with some added improvements and decentralization. The decentralized approach is important because the logic is self contained in the client, which is managed by the users themselves. This is a trustless solution.

Darkcoin uses the base transaction layer to sign it’s transactions in much the same way that Bitcoin does. The mathematics are tried and true and have been used for years in computer security and banking.

Transactions will be grouped together and the same cost as sending transactions on the normal network. Both DarkSend and normal transactions will be available to choose from, but at some point we might default to DarkSend (and go Dark).

It’s also worth noting that this approach doesn’t bloat the blockchain at all either. Transactions are the same size as the would have been.

Zerocoin

The approach Zerocoin takes is to use some exotic mathematics to hide the identity with a zero-knowledge proof. This allows a higher quality of anonymity, but also could have some unforeseen hole that will be exploited later.

Checkout this link to see the mathematics I'm talking about: https://github.com/Zerocoin/libzerocoin/blob/master/AccumulatorProofOfKnowledge.cpp

Zerocoin's proof of work is in the 2kb range, which was reduced from 1024kb in Mathew Green’s original work. These proofs must be stored in the blockchain for each transaction that goes through the network for confirmation purposes and the ledger history, so this will cause a lot of bloat. There is also a need for these proofs to be processed by the networks nodes, being larger will cause more intense CPU usage with smaller transaction rates.

The spec for Zerocoin also requires a 100% premine. I believe mining is what gives cryptocurrency their base value, so this could be a problem for the currency in the long haul.

With the high CPU usage, how will the network deal with DDOS attacks? I could send bad proofs that must be processed. It’s much harder with the Bitcoin protocol because the math is pretty fast and you would be banned quickly.

Imagine if Zerocoin had to deal with 20 transactions a minute, that would be 58.98MB/day that will be added to the blockchain. After a year, that would add up to 21.5GB. Now god forbid you have to reindex this, you’ll have to process all of the proofs on your computer? That might take another year to complete.

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I think the Darkcoin approach has the best mix of features, with the least risk and it’s decentralized. So we definitely have our place in the market.


References:

Coinjoin spec: https://bitcointalk.org/index.php?topic=279249.0;all

I admit I am new to cryptos, but I do find the pump and dump mindset a bit too prevalent here is general. I realize that almost all alt coins could be considered garbage, or their whole selling point is based on a logo or name of the coin ... but for coins with unique code, like Darkcoin, wouldn't it make more sense to simply hold it longterm? Not every single coin is garbage meant to be dumped.

"Darkcoin will hit 3$ (at least) by the end of this week!"

Dropped by 20% lately.

You never know. Could be a few more good pumps&dumps left in it.

Where can one buy it right now? thanx

Where can one buy it right now? thanx