Topic: SCAM Darkcoin instamine 2 millions DRKs (50% of darkcoin in circulation) - page 20. (Read 82637 times)

Let me quote your claim again:


That sir, is a lie.

That is a lie. That makes you a liar, sir.

Wow if thats the case. Im pretty scared what my NXT will be worth when it takes off!

It's the same with ALL cryptos. It's mostly speculation at this point. Including bitcoin. If any crypto will become mainstream ever, then the monies people are putting in now are PEANUTS.

He probably does cuz he and his friends have been mining since first second, no?

How do you know he doesn't have much ?

+1 but lunch was overhyped :-( to many mined DRK he don't have to much.

And those over power VPS minnig at lunch...

Well if the dev has nothing, or very little, it would be very bad for the coin. He could just lose interest because there is nothing or very little to be gained for him. I really really hope he has at least 100k minimum so he can fully concentrate on developing full time the next 2 years.

Nothing is 100%, but you already knew that. Darkcoin is anonymous for all practical intents and purposes, even now before drk dev implements the next round of improvements.

Why is this a mystery ?

Or more specifically, what relevance does it have to the current market ?

completley agree

If it was, it wouldn't be planning anonymity upgrades. (upgrade in anonymity = my anonymity is not perfect).

No coin today is NSA-proof. Same is true for BCN & clones. But their competition might just give us such a coin as the technologies and ideas evolve.

XC is just starting and currently it offers basic mixing.

Zerocoin doesn't exist and won't exist for a while, and the issue of trusted key must be resolved.



Very correct. The guy doesn't even know what DRK is. He says DRK = quark clone (lol?), using 5 hashes (it uses 11), being a PoS/PoW coin (not).

The fact that the first blocks were instamined by the first miners due to slow diff adjustment is well known and even the dev himself proposed an airdrop to fix the issue of initial distribution in the past. The community voted it down (initial distribution was already irrelevant). There is no point to fix something that the marketplace took care of.

NXT was created out of thin air and distributed by the creators. People are buying it or proposing it as a good investment. People were buying RIPPLE that the Ripple guys created out of nowhere. PoS/PoW coins are instamining their whole monetary base in a week or two, and nobody has an issue that late miners will not mine but will rather have to buy from the first ones. Instamining and creating coins out of thin air is a "feature" not a scam. Ethereum is the next big thing and will be selling coins that don't even exist through massive ICOs:


...so they'd rather sell a large cap for our own good

Contrast the above to buying 100.000 DRKs for 2.5 BTC (rate between jan 19 - feb 5), up to 15 days later after the launch from the instaminers (current cost of 100.000 DRKs = 1700 BTC / 1mn USD) - with a distribution formula in place that was twice as scarce as today's (84mn theoretical maximum / 10mn practical limit due to Moore's law + 50% reduction every year instead of 7% which is now).

DRK is targeting a very specific and well defined feature set.

The fact that one person's definition of 'anonymous' differs from another's is beside the point.

The fiat money system is fairly 'anonymous' in terms of public privacy, but probably not so in terms of 'NSA' privacy. It all depends on what market your supplying. The market I'm in is the public privacy one. That's where the gaping hole in Bitcoin's feature set lies and that's probably what most people are interested in given that they seem to accept already that most of their private transactions are at least "surveillable".

Facts in this info are correct. The big mystery is, how much of it is controlled by DRK dev. Missing fact from this quote is that until 3250, the difficulty of entire network was extremely low. Most of those instamined coins can easily belong to a single miner. We dont know if he/she has sold them or maybe traded them to even bigger stack. Blockchain gives no info about the person(s) behind the addresses. One person can easily have tens or even hundreds of DRK accounts.
The facts are clear. The mystery is, how much DRK is controlled by dev and hes friends. This number can easily be 1% and it can easily be 50%. Only they know how much it is. No one else can prove anything about it.

dark is not even 100% anonymous

Darkcoin

    derived from Quark

    type of algorithm: blake, bmw, groestl, keccak, jh, stein

    PoW and PoS

The following data and time stamps were collected from the Darkcoin blockchain 32).

    Block 1: 2014-01-19 Time: 3:54:41
    Block 1000 : 2014-01-19 Time: 4:33:39
    Block 2000: 2014-01-19 Time: 06:25:47
    Block 3000: 2014-01-19 Time: 09:10:16
    Block 3250: 2014-01-19 Time: 11:22:11

Looking at this data, we see that Darkcoin was mined with 500 DRK generated per block from the get go. From block 1 to at least block 3250, according to their blockchain, they were still producing 500 coins each block. The transition from 500 to 277 coins per block occurs between 3250 and 3500 but this author did not see the necessity of getting the exact moment of halving. Simple math shows that 3250 blocks multiplied by 500 coins a block is 1,625,000 Darkcoins created between the times of 3:54 and 11:22 on January 19th, 2014. As of today there are around 4,300,000 DRK in existence, making this a pretty hefty instamine. The Darkcoin website expects around 22,000,000 DRK to be created. That means in less than 8 hours, almost 5% of the Darkcoins that ever will be created spawned in that 1/3 of a day. It's safe to say Darkcoin has left it's investors in the dark on this one.

Source: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins

Tell you what. You watch it for us since you appear to have time on your hands.

When I bought this coin I knew I was buying into quite a challenging technical project. When I saw it going to 0.027 I thought it would probably correct by about 50% - if not all the way back to 0.01 for a while. Apart from anything else, it's indicated in the most basic DRK market technical analysis that there are a few days of correcting at hand.

It may or may not ultimately acquire one of the top 3 valuations in the long run, but if it doesn't it won't be for the reasons cited in all the b.s. posted in the thread, thats for sure.

My guess, however, is that it will.

The leadership position that DRK has already obtained is not one that's easily challengeable by better technology. Also, it's in a "right of passage" period right now. A hammering in the markets is just the price to be paid for that, but it doesn't necessarily reflect on the long term viability of the asset. We're less that a week into the latest major technical phase of this project and the main issues that caused the chaos the other night are already stabilised. There's at least another two years of development on the cards with no other competitor anywhere in sight that is close to such an advanced stage in its evolution.

Even if there was, one look at the market cap history of originals vs clones tells you all you need to know about the threat that that poses as long as the original stays stable and active.

So I won't be ditching my DRK holdings anytime soon unless I see a good reason to or for doing a bit of day trading in accumulation mode. The stuff posted in this thread is a mixed bag at best in terms of technical appraisal and almost irrelevant in terms of asset appraisal.

So enjoy the market sideshow f.w.i.w. but don't pretend that it's any more than that.

Its already collapsing, its down under $10 now.
Watch the panic sellers dump them tonight.

Stable price at 50m $ market cap proves that coin good distribution...
shit distribution will shoot price faster than you think master.

Anyway DRK bubble will colapse like LTC,Doge one too... - no matter what
anon clone conepts are starting hitting market XC, MRO,...

In this crazy world, people don't care about instamine or premine, don't care if it is a scam or not. They just want to sell their coins to someone else at a higher price. Scammers know this well.