Take a good hard look at Myriad until it clicks. It makes everything else (except DarkSend) feel instantly outdated.
Then, when you take a look at it and forget about it, come back a week later and take a good hard look at it again. Make sure it clicks this time.
Topic: Question on Darkcoin (Read 1989 times)
Darkcoin seems to be one of the very few solid alts to stay around when the dust settles and most alts die.
One of the very few innovative alts around.
Anonymous transactions surely will make this coin useful, not just an instrument of trade - which will bring volume and stability.
Talented developer (not anonymous!) committed for 2 years.
Plenty of support, community.
Looking at price charts it's clear this is different than all the other alts which are:
Copy code --> Booom --> Pump --> Dump --> Die slowly
I've made BTCs on other alts but was always realistic when to cash out...
Darkcoin is a keeper, I went all in and I'm not bothered with other alts anymore (buying/mining), there's nothing interesting anymore.
Some people have issues with the mining during first month... This is not an issue any more, big stashes has been redistributed, there are no few holders with millions.
Of course, some people will always complain about it, but well, sometimes you're late, sometimes you're not, that's the game.
It is still very early to join the game, once the Darksend go out of beta, this will be big.
One of the very few innovative alts around.
Anonymous transactions surely will make this coin useful, not just an instrument of trade - which will bring volume and stability.
Talented developer (not anonymous!) committed for 2 years.
Plenty of support, community.
Looking at price charts it's clear this is different than all the other alts which are:
Copy code --> Booom --> Pump --> Dump --> Die slowly
I've made BTCs on other alts but was always realistic when to cash out...
Darkcoin is a keeper, I went all in and I'm not bothered with other alts anymore (buying/mining), there's nothing interesting anymore.
Some people have issues with the mining during first month... This is not an issue any more, big stashes has been redistributed, there are no few holders with millions.
Of course, some people will always complain about it, but well, sometimes you're late, sometimes you're not, that's the game.
It is still very early to join the game, once the Darksend go out of beta, this will be big.
China government recently introduced some restrictions on bitcoin policy, this also affected the price of bitcoin, I believe that in a series of stimulus, there will be a better operation rules, rub one's eyes and wait, just personal opinion.
I personally like darkcoin a lot, but worry about the volume that was mined in the first 24 hrs. Seems that it puts alot of the market into the hands of a few, but who knows maybe it has already been slowly sold off and distributed. Some may say this is fair as it rewards the earliest miners but I think it's too much. That being said my GPUS are currently mining darkcoin. I love the 60C at 500 Watts instead of 77C at 800 Watts. The argument about if darkcoin is asic resistant is hopeless as people think the definition means different thing. Who gives a shit about the national institute of whatever paper, thats just one agencys opinion in one country.
Taken from http://www.reddit.com/r/DRKCoin/comments/21k7jt/to_all_the_windows_miners_we_will_not_reach_the/
"To all the windows miners! We will not reach the moon, nor the 10 dollar per coin. (self.DRKCoin)
submitted 2 days ago by Jarocco
In the beginning, this coin was preannounced as a 100 million billion coin cap. https://bitcointalksearch.org/topic/pre-anndrk-darkcoin-384582 The first day, when there wasn't a windows wallet yet, 2 million coins were mined. 2 millions against 100 million billion coins is not that much. But the coins cap has changed and now we will probably reach a coincap of 22 million coins in the year 2054. That means that now these few people who mined it at the beginning, have 52,6% of the coins which are now in existence. Think about this! It's like an over 50% instamine! They control the price, and they are already rich now. This coin will probably find his way to the deep web, but it will not be a commodity to store your wealth annonymously, because everytime when the price will rise, those few will cash out, and the price will go down.'
Taken from http://www.reddit.com/r/DRKCoin/comments/21k7jt/to_all_the_windows_miners_we_will_not_reach_the/
"To all the windows miners! We will not reach the moon, nor the 10 dollar per coin. (self.DRKCoin)
submitted 2 days ago by Jarocco
In the beginning, this coin was preannounced as a 100 million billion coin cap. https://bitcointalksearch.org/topic/pre-anndrk-darkcoin-384582 The first day, when there wasn't a windows wallet yet, 2 million coins were mined. 2 millions against 100 million billion coins is not that much. But the coins cap has changed and now we will probably reach a coincap of 22 million coins in the year 2054. That means that now these few people who mined it at the beginning, have 52,6% of the coins which are now in existence. Think about this! It's like an over 50% instamine! They control the price, and they are already rich now. This coin will probably find his way to the deep web, but it will not be a commodity to store your wealth annonymously, because everytime when the price will rise, those few will cash out, and the price will go down.'
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
He's not Moses, parting the sea to stop ASIC is harder than it sounds. Heavycoin tried to make a CPU only coin and got raped in about 2 days by GPU lol. A CPU only coin is pointless, so it's actually an upgrade for Heavycoin.
And I agree CPU-only is a bad idea, because then botnets come in and dominate it. GPU-only is the sweet spot that allows anyone to participate in.
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
That is my point !!!!!
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
He's not Moses, parting the sea to stop ASIC is harder than it sounds. Heavycoin tried to make a CPU only coin and got raped in about 2 days by GPU lol. A CPU only coin is pointless, so it's actually an upgrade for Heavycoin.
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
Annonimity makes sense. Even if you don't understand everything else, drk has (will have) something many people seeks while there is no intrinsic reason why anyone would want one scrypt coin over the others.
I agree with your picks of LTC and DOGE. Definitely add DRK. Remove WDC from your portfolio and add NXT.
If you want to live on the wild side, Counterparty (XCP) could offer big upside potential. It's the cheapest it's been since the burn period. But there are risks in working with a blockchain you can't control, and the Bitcoin devs have been pretty menacing to XCP and MasterCoin lately. In other words, there's a reason why it's cheap.
If you want to live on the wild side, Counterparty (XCP) could offer big upside potential. It's the cheapest it's been since the burn period. But there are risks in working with a blockchain you can't control, and the Bitcoin devs have been pretty menacing to XCP and MasterCoin lately. In other words, there's a reason why it's cheap.
WDC? I don't think it's worth to invest.
20% WDC <- incredible speed and development
You must be living in a time warp.
Quote
20% WDC <- incredible speed and development.
LOOOOOOOL thank u for making me burst
Yea, WDC, as well as the other 5000 coins that are an identical copy of Litecoin with same hashing algorithm are going straight to 0.
Darkcoin is probably the #1 best option for possible future explosive growth at the moment.
Quote
20% WDC <- incredible speed and development.
LOOOOOOOL thank u for making me burst
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
So that means you never have intention to DO ASIC resistant since BEGINING.....
Why I need to invest in your coin if they is nothing different from BITCOIN
?It’s decentralized (unlike zerocash, zerocoin, etc) <<<<<< Have you research ?
They are building decentralized processes.
My only hesitation with Zerocash and zerocoin implementations - e.g. anoncoin - is they have publicly declared that the initial start process requires a trusted third party and there is a small risk that that third party can build back doors.
Zerocash also might suffer from the initial government funding of the project.
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
So that means you never have intention to DO ASIC resistant since BEGINING.....
Why I need to invest in your coin if they is nothing different from BITCOIN
?It’s decentralized (unlike zerocash, zerocoin, etc) <<<<<< Have you research ?
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
So that means you never have intention to DO ASIC resistant since BEGINING.....
Why I need to invest in your coin if they is nothing different from BITCOIN
?
Darkcoin would be a good move ... I'd take my money out of WDC if I were you, just another scrypt coin and you seem to be vested in litecoin and dogecoin both scrypt...
Take a look at Quark, 9 rounds of hashing from 6 hashing functions (blake, bmw, grøstl, JH, keccak, skein. 3 rounds apply a random hashing function.
Take a look at Quark, 9 rounds of hashing from 6 hashing functions (blake, bmw, grøstl, JH, keccak, skein. 3 rounds apply a random hashing function.
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
So that means you never have intention to DO ASIC resistant since BEGINING.....
Why I need to invest in your coin if they is nothing different from BITCOIN
? Recently I taken a liking in Crypto investment, and so far returns appears to warrant me to keep going.
to disclose. I have the following:
50% LTC <- doing well in china.
20% Doge <- also doing well in china.
20% WDC <- incredible speed and development.
10% others <- Test stuff.
around 300k USD in total, not a lot.
Recently, I am looking to add some funds in, at first, I thought of Vertcoin, but after a bit of discussion, I realize Vertcoin offers nothing different then Doge, in fact, it is a slower version of it only. Asic protection is a nice perk, but I am convinced that it is not going to be effective. As such, I moved on to my next research, Darkcoin.
Now, this one seems interesting, I do think it has enough difference to have its own niche of survival.
can anyone here tell me more about it?
how does Darkcoin does it?
and will their innovation be vulnerable to any newer tools to unveil them?
Let me know. and thanks.
One of many things that brought me in was that I'm finding myself wondering what eduffield (main developer) will come up with next. Not because I'm looking for more, but because it seems like every week the guy comes and does something fantastic.
From what I can tell, there is a team of developers but the main announcements come from his account . . very well controlled approach.
Next on the list . . the question comes up as to why people mine the coin in the first place . . even though there's still a slim but definite margin in mining profitability. The push for people to continue to mine the coin, even through the few cents less a day they could produce if mining a different coin shows a strong community of supporters.
Leading into how the price held almost horizontal for some time . . this makes me think that the mining community here is not bent on immediate sales to other currencies and isn't looking to take this directly to the bank in less than a day. Backing this up so far is that the price grew by 25% and I didn't see everyone dumping immediately.
Then there's the rest of what comes with the coin itself . . which is the first coin to offer the x11 chained algorithm, the first coin to offer the DGW difficulty retargeting mechanism, a new approach to a trustless anonymous transaction system still in active beta, and a full time transparent software developer with many years of experience.
I guess what I'm trying to say is that in just a few months . . there's a lot more than just a good potential already on the table.
This summary is pretty much why I decided about a month ago to ignore almost everything else and why I am focusing efforts to try and do what I can to support this project. No matter how good a project, it still needs volunteers to help it along and to gain momentum.
I've tried to immerse myself into the rationale for producing an anonymity bias coin and if it has defining characteristics that will take it into the top 10, or top 3 or if people will treat it as a gimmick or a pointless feature......while still keeping an open mind on zerocash, anoncoin and dark wallet, once educated into how public private data can get on the blockchain, the recent IRS announcement being an example, most people will get the point of these alt-coins and look at them as more investable than other alts. They have their own good story to tell, while still being functional payment tools.
The developers know that with the innovative features they have in the open, they can get a steady market cap that might push around the top 10 with a bit more marketing. DarkSend is the key feature at the moment that can take the project into the top 3.
There are some reservations about the branding in terms of medium term consumer adoption, but in the shot-term it is, on balance, probably more helpful than not. It's like the small bounce that silkroad gave to bitcoin bringing it extended free publicity where a debate was had about the anonymity side.
I've liquidated most other alts and some BTC into DRK. My reasonable size rig is mining DRK. I'm giving up my free time which clients pay a lot of money for.
I'm long on this one.
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