Topic: SCAM Darkcoin instamine 2 millions DRKs (50% of darkcoin in circulation) - page 14. (Read 82653 times)

What? That text doesn't say Dark wasn't instamined, it just says the devs don't own those coins. Yes, I have read it the FAQ. It says in several places that there was an instamine, and explains the details.

Trolls have been singing your tune and saying DRK was doomed to crash since it was under 10% of it's current price. Any argument against the rise of DRK that was being said at that time has now been proved wrong. Come up with new arguments or go home.

I read someone who wrote that 50% of the coins in circulation are owned by the devs (http://wiki.darkcoin.eu/wiki/FAQ#I_read_somone_who_wrote_that_50.25_of_the_coins_in_circulation_are_owned_by_the_devs)
No. This is a classic case of spreading FUD (Fear Uncertainty and Doubt) by supporters of other cryptocurrencies who perceive Darkcoin as a threat to the coin they support.

Have you read it ?

As you can clearly see in the text you quoted, the FAQ doesn't say that. In fact, it states more than once that an instamine happened, and goes on to explain the details. Either you can't read for toffee or you're deliberately misrepresenting what the FAQ says and hoping the readers of the thread won't bother to read the facts for themselves.

https://yourlogicalfallacyis.com/strawman

No. I'm saying I had more hashing power pointed at the pools than they did and I'm not on their team. Look, pre-mine is a sensitive subject when it comes to the coins development but tbh Satoshi set the precedent in that regard.

I personally look at it like this. If a developer is working on a coin instead of working a job then his only source of income is the project he is working on. It's not 100% that the coin is going to make him any money. The general opinion is that a developer needs to work for free on the coin he is developing, mine the coin like everyone else and then rely on donations from the community to support himself. If he doesn't get enough donations he stops working on the coin and the coin dies. Now unless he is earning an income outside of the project this is a recipe for bankruptcy and homelessness.

Mining pools take 1-3% of the total coins mined then dump them into the market to support other coins - ultimately turning into a large multi-pool. These pools dont give a shit about the coin just turning them into bitcoins when they could instead be donating to help the coin's original developers out. Why is it OK for mining pools to take 1-3% of the coins mined and not OK for the original developer to take a pre-mine to support the actual progression of the coin? It doesn't really make much sense. If anyone is going to want a coin to succeed it would be the original developer. Yes, there are cases of scams where developers pump and dump but I'm saying in a scenario where its a legitimate project.

I think the correct solution is developer vesting similar to founder's vesting. A developer take a % of the coins mined over time. This gives him an incentive to keep working on the project otherwise it dies and he doesn't get his full share; Moreover, it prevents him from dumping his coins onto the market. Its a guaranteed source of coins for him and he doesn't need to rely on donations to keep the project going.

So, what you said is instamine 2 million coins by devs is the right thing to do because Satoshi also did ?

I started mining DRK the moment after it was released. I rented a shitload of VPSs and amazon instances as well. I was at the top of all the mining charts on the pools I was using. I've since got out of the DRK scene but yeah when the coin launched I was getting a bunch per day. I offloaded my DRK into the market in small increments around the end of April. I don't know Evan personally I just saw his post and was looking for something new to mine after the Stablecoin developer went MIA. Anyways I have been invested into anon focused coins since the release of anoncoin. I don't really think that its a conspiracy tbh its just how this market works. Something looks appealing and then you mine the shit out of it. I did the same thing with Anoncoin.

There is truth for ya.


If you want a conspiracy try to connect the disappearance of Artos (Lead Stablecoin Dev) with the appearance of Evan Dufffield (Lead Darkcoin Dev). The two coins share the same design principals (Closed Source Mixer) and were abandoned/launched around the same timeframe. If you can get proof of that then you will have something on your hands

BTW - Satoshi owns 1.5 million Bitcoins.

Sometime, it's hard to tell people the truth.

I quess, he would say that its justified to take money away from stupid people.
Finally some of them are beginning to realize that they were scammed with simple and obvious plan.

Pyramid or ponzi.. hmm.. can't seem to make up my mind. lol

http://en.wikipedia.org/wiki/Pyramid_scheme#Connection_to_multi-level_marketing


Next up on that page is one for the exchanges and their shitcoin sweatshops. They've made fortunes with their shares, fees, "vote" selling, market manipulations, fractional reserve banking and the free coins generated by the clientelle's PoS deposits.

Funny how no one ever talks about that last one..

http://en.wikipedia.org/wiki/Pyramid_scheme#Connection_to_franchise_fraud

edit

@gostrol

I /we have pointed that out several times and they don't care.

These coins have become so cult like, its beginning to creep me out.

Yes please continue with the FUD.  I am enjoying the cheap coins.

Let's take a look at the first 5 h of Darkcoin (XCoin at that time)...

https://bitcointalksearch.org/topic/m.4589219
Edufield said (after failed launch) that he will wait the next day to launch DRK (XCoin at that time) it is 11 pm.

https://bitcointalksearch.org/topic/m.4591407
Edufield disregard windows wallet and daemon and hurry up his launch, presumably to not have windows miners on board.

https://bitcointalksearch.org/topic/m.4592827
Edufield say he added four nodes for the launch at 4 am (5 hours later, despite his promise to wait). The 4 nodes from Edufield are 3 amazons AWS + another unknown (whois IP). Launch started at 3h54 am.

https://bitcointalksearch.org/topic/m.4593601
Edufield said the github version was not updated, nobody could compile and only Edufield was able to mine until that time. It is 5.09 am and Edufield instamined alone 1153 block at 500 DRK + 60 block at reward 277 = 593120 DRK for him alone in about 1 hour.

https://bitcointalksearch.org/topic/m.4593987
No windows wallet confirmed at 5h47 am, despite a user attempt to make one avaiable, that Edufield dismissed quickly.

https://bitcointalksearch.org/topic/m.4594096
Illodin, understand dev has instamined alot of coin.

https://bitcointalksearch.org/topic/m.4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.

From 6M$ - 13M$ in 5 h, Edufield did some lucrative work here!

Edufield is nominee for the Master Scammer 2014 award!

So, devs instamined is the right thing to do ? that's what you say ?