DRK Coin is closed source? | Bitcointalksearch.org

IloveAnonCoin

full member

Activity: 140

Merit: 100

Quote from: cryptohunter on April 26, 2014, 07:49:06 AM

THE FACTS ABOUT DARK COIN

1. released without windows QT so that only dev and pals could mine it.

2. Instamined harder than any other coin out there 12.5% of the current minting was mined in the first day

3. Later they decided to cut the minting by 75% to turn their 12.5% instamine with no windows QT into 50% instamine in 24hours - nice hey

yes that is correct they mined 50% of all the coins available at this time by themselves in the first 24 hours whilst windows users could not mine.

That is the facts.... doesn't matter what else they say... nothing can change what they have done.

Once zero coin, or bytecoin with a decent wallet it released or another darkcoin clone is released.... dark coin will sink like a stone.

Every time they try to spam their coin just post this to remind them of the facts about their coin.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: hartvercoint on May 24, 2014, 03:50:43 AM

Quote from: PL_CoinTrader on May 23, 2014, 11:44:29 AM

It would be nice if a dev of DRK could explain that or at least a DRK user. Why exactly is it closed source? When will this be changed? Why should one trust DRK?

Guys, all the info can be found on darkcointalk.org. Stuff is already working on the testnet. Everything apart from the darksend functionality is open-source already. It will be open-source once it's fully functional on mainnet and there was a full audit.

Suspecting mining to be tampered with is ridiculous. There are open-source miners available and they work as expected. You can look it up on the blockchain anyway.

DarkSend being closed-source is a HUGE problem to anyone holding DRK.

How does one know that the devs aren't double spending their stash or just adding to their total stash and selling them?

If it is closed source this is then possible.

Hence why such a pump could happen.

Having a public-ledger that bitcoin and litecoin has is important to verify where coins came from. Otherwise what is the point of anonymity? Anyone can just send coins and then claim they never sent them to sell on an exchange? lol...how retarded is that?

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

ANONYMITY -> CLOSED SOURCE
-> NON-TRACEABLE TRANSACTIONS ON BLOCK CHAIN
-> DEVS CAN GIVE THEMSELVES MORE COINS TO SELL AND YOU WOULDN'T KNOW
-> RISK
-> REQUIRES YOU TO TRUST THE DEV NOT TO DO ANYTHING SHADY

Looks like DRK is retarded if all of the above is true.

hartvercoint

full member

Activity: 224

Merit: 100

Quote from: PL_CoinTrader on May 23, 2014, 11:44:29 AM

It would be nice if a dev of DRK could explain that or at least a DRK user. Why exactly is it closed source? When will this be changed? Why should one trust DRK?

Guys, all the info can be found on darkcointalk.org. Stuff is already working on the testnet. Everything apart from the darksend functionality is open-source already. It will be open-source once it's fully functional on mainnet and there was a full audit.

Suspecting mining to be tampered with is ridiculous. There are open-source miners available and they work as expected. You can look it up on the blockchain anyway.

hamiltino

hero member

Activity: 644

Merit: 500

P2P The Planet!

Quote from: Future_1 on May 23, 2014, 07:38:04 PM

I can't stress this enough to you n00bs.

Bytecoin! Bytecoin! Bytecoin!

thanks

Future_1

newbie

Activity: 40

Merit: 0

I can't stress this enough to you n00bs.

Bytecoin! Bytecoin! Bytecoin!

hamiltino

hero member

Activity: 644

Merit: 500

P2P The Planet!

Quote from: stealth923 on May 23, 2014, 06:54:13 PM

Quote from: hamiltino on May 23, 2014, 07:16:06 AM

Darkcoin does not interest me, if you want a true anonymous and open source coin made by academics then wait for zerocoin which will be released in 3-6 months.

https://twitter.com/secparam/status/468784402558771200

Darkcoin aims to mix and confuse while zerocoin aims to be 100% invisible.

Zerocoin / Zerocash is 100% dependant/centralised on the coin dev destroying the one time setup key. If this is not destroyed or cracked later on, the entire coin becomes useless.

Couple that with the mathematics and cryptography foundations that DARPA, Dept Defence has provided to develop Zerocash - I would not touch it with a 100 foot pole.

I could say the same thing about Darkcoin, its closed source so i wouldn't touch it with a 10 foot pole.

Oh and btw you are wrong about that centralization of key control...

There are other currencies which aim to be anonymous and i believe will be superior to even zerocoin, zerocoin is just a clean example of anonymity using gen1 blockchain technology.

FreebieZoner

full member

Activity: 168

Merit: 100

Quote from: tokyoghetto on May 23, 2014, 07:05:19 AM

Quote from: HCLivess on May 23, 2014, 05:52:47 AM

Darkcoin is close-sourced to prevent for early detection of scam.

fixed

Or dark coin is the scam lol.

stealth923

legendary

Activity: 1036

Merit: 1000

Quote from: hamiltino on May 23, 2014, 07:16:06 AM

Darkcoin does not interest me, if you want a true anonymous and open source coin made by academics then wait for zerocoin which will be released in 3-6 months.

https://twitter.com/secparam/status/468784402558771200

Darkcoin aims to mix and confuse while zerocoin aims to be 100% invisible.

Zerocoin / Zerocash is 100% dependant/centralised on the coin dev destroying the one time setup key. If this is not destroyed or cracked later on, the entire coin becomes useless.

Couple that with the mathematics and cryptography foundations that DARPA, Dept Defence has provided to develop Zerocash - I would not touch it with a 100 foot pole.

Future_1

newbie

Activity: 40

Merit: 0

Quote from: balu2 on May 23, 2014, 11:50:40 AM

it's just a wolong-pump anyways. Most of you are lost causes.

ITT: Butthurt miners that are mad because they missed the rocket ship.

Hey I missed it too. No worries.

balu2

hero member

Activity: 742

Merit: 500

it's just a wolong-pump anyways. Most of you are lost causes.

PL_CoinTrader

full member

Activity: 226

Merit: 100

It would be nice if a dev of DRK could explain that or at least a DRK user. Why exactly is it closed source? When will this be changed? Why should one trust DRK?

hamiltino

hero member

Activity: 644

Merit: 500

P2P The Planet!

Darkcoin does not interest me, if you want a true anonymous and open source coin made by academics then wait for zerocoin which will be released in 3-6 months.

https://twitter.com/secparam/status/468784402558771200

Darkcoin aims to mix and confuse while zerocoin aims to be 100% invisible.

BCwinning

hero member

Activity: 770

Merit: 500

On top of being closed source and supposedly heavily premined. It doesn't appear the authors know where
they are going with this. As I read about changes to the core almost daily it seems.

tokyoghetto

legendary

Activity: 1232

Merit: 1000

Quote from: HCLivess on May 23, 2014, 05:52:47 AM

Darkcoin is close-sourced to prevent for early detection of scam.

fixed

HCLivess

legendary

Activity: 2114

Merit: 1090

=== NODE IS OK! ==

Darkcoin is close-sourced to prevent for early clones.

qqNxt

full member

Activity: 468

Merit: 100

I don't trust drk but saw all the hype coming so I sold some of my nxt and I jumped in and out of drk within 24hours and made a few bucks, very risky money.

reRaise

hero member

Activity: 868

Merit: 1000

Something is off with dark, closed source, the premine story, don't know but i don't feel good about that

Peter R

legendary

Activity: 1162

Merit: 1007

Quote from: FreebieZoner on May 22, 2014, 10:07:27 PM

Quote from: Peter R on May 22, 2014, 09:58:57 PM

Confirmed that DRK is closed source from https://bitcointalksearch.org/topic/anndash-dash-dashorg-first-self-funding-self-governing-crypto-currency-421615

If it is all closed source, then couldn't the mining be gamed with most the new coin supply going to insiders?

There is still possibility that they would never release the source code and this is just a major pump and Dump scam. I wouldn't buy any dark coin. But either way, there's bound to be a popping bubble.

When coins can be legitimately mined, selling pressure from the additional supply will drive the price down to "pop" the bubble. But if the mining is being gamed such that most the coins are going to insiders, then perhaps they can blow the bubble a lot higher. Take a look at the "white paper"--the mining algorithm is complex and ambiguous (and possibly ridiculous):

   "Darkcoin uses a new chained hashing algorithm approach, with many new scientific hashing algorithms for the proofofwork. X11 consists of blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, and echo."

The inflation schedule is obscure:

   "DarkCoin replaces abrupt reward halving with a reward curve, 2222222/(((Difficulty+2600)/9)^2). The maximum and minimum amounts are set to 25 and five respectively."

And even the calculation of difficulty has been "adjusted":

   "DarkGravityWave uses multiple exponential moving averages and a simple moving average to smoothly adjust the difficulty."

This ^^ coupled with the fact that everything is close source suggests to me that it is possible that the mining is being gamed and that very few new coins are going to outsiders. Coinmarket cap reports $5.7 million in exchange volume over the last 24 hours, something tells me a lot of this is the right hand selling to the left hand.

peacefulmind

full member

Activity: 196

Merit: 100

Quote from: Peter R on May 22, 2014, 09:58:57 PM

Confirmed that DRK is closed source from https://bitcointalksearch.org/topic/anndash-dash-dashorg-first-self-funding-self-governing-crypto-currency-421615

If it is all closed source, then couldn't the mining be gamed with most the new coin supply going to insiders?

Oh Shi....

The whole thing is closed source - thank you for this image!!

Why on earth are people buying into an empty promise?

If it is closed source, then how do these people know they are not all putting spyware on their PCs??? This probably does not anonymize at all LOL @ ppl.

Topic: DRK Coin is closed source? (Read 2237 times)