3. Once the issue was recognized, the founder of the coin issued a fix within a few hours to adjust the difficulty more quickly than the algorithm included in the Litecoin code.
Appears they've just incriminated themselves, by admitting they didn't immediately halt the mining by informing the public and declaring a fork with a restart was forthcoming, but instead let the instamine run on for several hours.
4. The only two members of the development team at the time were Evan Duffield and InternetApe. InternetApe sold all his coins early on, and is no longer involved with the project. All other members of the current team joined later. InternetApe was able to accumulate 160K DASH over the first weeks of the project so that should provide an idea of the range a founding member was able to accumulate. So the launch issues and high rewards happened to everyone equally and there was no bad intention, just part of a young hobby project that later became a much more serious project.
How can Evan know that Kyle Hagan sold all his DRK unless Evan was controlling Kyle's mining equipment. Notice how Evan refused to disclose how many DRK he mined. He also doesn't disclose who Kyle sold his DRK to and for what price.
smooth are you not understanding my logic? Everything Evan is writing in that document appears to me to be incriminating. Here is another example:
6. These early mined tokens had no value at the time and many people just traded them OTC or sold them in exchanges very early on. There was no benchmark and no way to know Dash was going to grow and become a bigger project so most first day miners just sold their coins.
How can he know what the first day miners did on OTC unless he was buying all the coins that were sold or was in communication with all the first day miners.
He claiming or admitting that the first day miners were a close knit group.
smooth are you not understanding my logic? Everything Evan is writing in that document appears to me to be incriminating. Here is another example:
Did you see me disagree?
Incriminating or not, at best it is obviously all double-talk, half truths, and speculation presented as fact. That alone is enough to make any sane person want to stay the fuck away.
It is either fact that he could know what he claims to know, in which case they need to disclose all the facts they knew. For example, if they can know what all first miners did, then they must disclose the numbers.
Else it is speculation painted as fact which is a violation of proper disclosure for investment securities.
So either way, it appears to be incriminating w.r.t. securities law in the USA, but note IANAL.
The House of Cards known as XCoin, DarkCoin, DRK, Dash, Dashpay, appears to be nearing its deathstar destiny.
Please don't blame smooth, as he didn't post this here. I am the one quoting it for future SEC/FinCEN investigators and also to alert Dash investors and pumpers of the potential legal and market price implosion implications per the upthread analysis:
More deceptive and misleading statements about the instamine that Dash continues to use to scam investors even now, this time an in "Official Communication".
https://dashpay.atlassian.net/wiki/display/OC/Dash+Instamine+Issue+ClarificationRepeats many of the unsupportable or false claims mentioned in the OP from the old Darkcoin FAQ such as coins being redistributed, the nature of the distribution, and where and how large holders obtained their coins. Omits critical information about key events surrounding the instamine such as the early launch and the deliberate withholding of development plans until after the instamine was complete.
Also mischaracterizes the origin of the instamine coins as being the Litecoin difficulty adjustment algorithm which is absolutely false. Most of the "extra coins" came from the absurdly-high block rewards due to a "bug" (500 coins/block IIRC, roughly 285 times higher than now). If Dash had constant block rewards as did Litecoin (for four years), its instamine would have been very small, as Litecoin's was (in fact even smaller, since the Dash had a difficulty adjustments at 4x the frequency of Litecoin).
