Topic: The Darkcoin scam (Read 2526 times)
This thread gives some insights of what darkcoin really is...
I keep looking at the gap between dark and Monero.
Looking bleak for the dark boys
Looking bleak for the dark boys
not a scam really, just not a fair reward system and certainly not anon
The instamine gives a huge advantage to the ones aware of the bug: Using huge farm at the right time. This is a 2014 coin, these bugs were fixed months ago at this time. This is likely a bug set on purpose.
In what way is it unfair?
Giving free coins using the masternode implementation for some, and high expensive coins using the POW, generates an unfair coins scattering process; This is a way to scam the miners, and investors, like a 'premined' situation. A lot of miner aware of the situation have dumped their coins... This is a very bad move.
If it is not anon, then there is no point for it to exists.
Better algorithms without the issue describes above existed already.
Isssues after issues we can state, this is a coin to avoid.
The fact that a dozen devs were able to come along and do in a month what took Duffield in 6 months to do either proves Duffield was stringing people along for months to build hype or he isn't the superstar coder everyone made him out to be, that much is for sure. Also the fact that Dark went around proclaiming to be the first anon coin was nonsense when the Fedora mixer was out months before Darksend and Bytecoin was out 2 years ago.
I am not going to go and call Dark a scam, it is obvious Duffield has a plan and intends to follow through and keep working on the coin but I still never bought his story about the instamine being a mistake. If people want to support him and make him rich hoping to make themselves rich, more power to them, but I find it hypocritical when he is defended for the instamine when every other coin takes so much heat for a paltry 1-2% premine.
I am not going to go and call Dark a scam, it is obvious Duffield has a plan and intends to follow through and keep working on the coin but I still never bought his story about the instamine being a mistake. If people want to support him and make him rich hoping to make themselves rich, more power to them, but I find it hypocritical when he is defended for the instamine when every other coin takes so much heat for a paltry 1-2% premine.
Dude u seriously believed that shit about bytecoin being 2 years old?? Lol not only does common sense make that horse shit, it's been shown they said that to hide the premine, with fake/edited/and or missing white papers.... Please go read about it I hope you didn't buy any...
not a scam really, just not a fair reward system and certainly not anon
In what way is it unfair?
If it is not anon, then there is no point for it to exists.
I like this one personally:
There is no windows client when DRK (xcoin) released which I will never tell you.
But you just told us
There is no windows client when DRK (xcoin) released which I will never tell you.
But you just told us
Running low on steam credit are we boys?
There's easier way to earn money you know, set up a masternode or two and sit back
There's easier way to earn money you know, set up a masternode or two and sit back
People who did this got burn badly when the yield and reward can not beat the magnitude of price decline.
Running low on steam credit are we boys?
There's easier way to earn money you know, set up a masternode or two and sit back
There's easier way to earn money you know, set up a masternode or two and sit back
Must be nice to be 18 with no responsibilities and no brains where video games are sufficient payment. I wonder if my bank will take steam credits.
Running low on steam credit are we boys?
There's easier way to earn money you know, set up a masternode or two and sit back
There's easier way to earn money you know, set up a masternode or two and sit back
You may say that, but some bugs are set on purpose; And the ones that had the big farms at this time had more coins than the 'specs' of the coin will allow... And the coins 'scattering' process was altered with too much coins generated at the beginning. With all the good alternates we have, such an issue is more than problematic. The 20% 'innovation' is also more than a concern.
No, it is not more than a concern.From the looks of it there won't be enforcement yet, since there is something wrong with the voting system which was reverted for now. One shouldn't complain like I said. If you don't like it, then go mine some other coins.
If it was up to me, I'd bump it to 40% and enforce it right now, so that all previous clients would be invalidated. I tend to be evil.
You are right, this coins has a lot of issues that the fair alternates available before doesn't have.
One question; How this happens?
One question; How this happens?
The instamine. The masternode implementation with the 20% steal of POW blocks. This is a concern. Anyway we can be sure that these features describe in the official 'thread' as innovation are driven by a scam goal.
It wasn't instamined. I was there at the start and mined from my linux as well.First come first serve, don't complain because you didn't get a piece of the pie.
Exactly how are MN payments a scam feature? Are the developers getting that money? Sigh.
Besides payments will be enforced soon, so pools avoiding this will be useless.
You may say that, but some bugs are set on purpose; And the ones that had the big farms at this time had more coins than the 'specs' of the coin will allow... And the coins 'scattering' process was altered with too much coins generated at the beginning. With all the good alternates we have, such an issue is more than problematic. The 20% 'innovation' is also more than a concern.
We must stop scam coins, and scams behavior for the alternates to live.
The instamine. The masternode implementation with the 20% steal of POW blocks. This is a concern. Anyway we can be sure that these features describe in the official 'thread' as innovation are driven by a scam goal.
It wasn't instamined. I was there at the start and mined from my linux as well.First come first serve, don't complain because you didn't get a piece of the pie.
Exactly how are MN payments a scam feature? Are the developers getting that money? Sigh.
Besides payments will be enforced soon, so pools avoiding this will be useless.
The instamine. The masternode implementation with the 20% steal of POW blocks. This is a concern. Anyway we can be sure that these features describe in the official 'thread' as innovation are driven by a scam goal.
+1 Dark Coin is a hardcore scam.
just wait 30 minutes or so and 'LaudaM' will try to defend the coin with some random bullshit talk.
be careful she is in the bed with evan duffy the creator of dark coin. these guys are pretty hardcore.
~CfA~
No, when I defend it I use actual fact.just wait 30 minutes or so and 'LaudaM' will try to defend the coin with some random bullshit talk.
be careful she is in the bed with evan duffy the creator of dark coin. these guys are pretty hardcore.
~CfA~
Like that DarkSend+ is working and you can test that yourself, or that Kristov A. is doing an audit.
After the audit the coin should be going open source.
Exactly what is your problem? You verify all of this yourself.
Indeed the reward per block was cut, but this is not the first coin to endorse it.
It might not be the first coin to "endorse" it. But it's the only coin in the top 10 or 20 to ...
+1 Dark Coin is a hardcore scam.
just wait 30 minutes or so and 'LaudaM' will try to defend the coin with some random bullshit talk.
be careful she is in the bed with evan duffy the creator of dark coin. these guys are pretty hardcore.
~CfA~
No, when I defend it I use actual fact.just wait 30 minutes or so and 'LaudaM' will try to defend the coin with some random bullshit talk.
be careful she is in the bed with evan duffy the creator of dark coin. these guys are pretty hardcore.
~CfA~
Like that DarkSend+ is working and you can test that yourself, or that Kristov A. is doing an audit.
After the audit the coin should be going open source.
Exactly what is your problem? You verify all of this yourself.
Indeed the reward per block was cut, but this is not the first coin to endorse it.
Everyone knows the Dev released the coin at the most inconvenient time, Sunday 4 AM and then instamining the shit out of it with 50 Amazon AWS nodes and 50 microsoft cloud computing, no windows wallet is just another minor fact.
https://bitcointalksearch.org/topic/m.7535561
Darkcoins biggest problem however is that it is fundamentally flawed. You have to be the dumbest bloke in the block to spend money on something, someone else produces for free. No, the free coins reference it does not include you if you bought the 1000 coins expensively to set-up a masternote only the initiator of the scam profits massively, as with every scam. No price will never be "cheap" as the free produced coins will keep coming. Eventually it will enter into a dead spiral because the more masternotes you have running the faster you have another one and get even more coins. 1 or 2 notes gets you nowhere in this race.
The other fundamental flaw is the fact that out of the thousand or so active coins out there no other coin is easier to take down by the authorities as every masternote operator is a sit′ting duck′. Central connection is utter failure, you take em' down one after the other.
Fundamentally flawed is also the mining reward. 500 to start with then 150 for a few months and now a whopping 5 of which the miner gets 80% and not 100% like at the start or with the 150 reward.
https://bitcointalksearch.org/topic/m.7535561
Darkcoins biggest problem however is that it is fundamentally flawed. You have to be the dumbest bloke in the block to spend money on something, someone else produces for free. No, the free coins reference it does not include you if you bought the 1000 coins expensively to set-up a masternote only the initiator of the scam profits massively, as with every scam. No price will never be "cheap" as the free produced coins will keep coming. Eventually it will enter into a dead spiral because the more masternotes you have running the faster you have another one and get even more coins. 1 or 2 notes gets you nowhere in this race.
The other fundamental flaw is the fact that out of the thousand or so active coins out there no other coin is easier to take down by the authorities as every masternote operator is a sit′ting duck′. Central connection is utter failure, you take em' down one after the other.
Fundamentally flawed is also the mining reward. 500 to start with then 150 for a few months and now a whopping 5 of which the miner gets 80% and not 100% like at the start or with the 150 reward.
Im glad i never invested in DRK. XMR for the win, was always the number 1 anon coin.
there are many coins are scam. DRK XMR and so on.
Im glad i never invested in DRK. XMR for the win, was always the number 1 anon coin.
I also have made a kind of investigation and posted an article
http://www.cryptobang.com/2014/08/27/investigation-of-darkcoin/
If you have more interesting facts - drop it to me)
http://www.cryptobang.com/2014/08/27/investigation-of-darkcoin/
If you have more interesting facts - drop it to me)
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