Topic: 【Truth or FUD???】DarkCoin – The Next Big Thing, or Just Another Pump and Dump? - page 4. (Read 15524 times)

Thanks gmaxwell.

Let darkcoin live on with Aurara, Maza, Max and friends. I've only been on bitcointalk for a few months but I've seen a regular trend.

I'll admit that Darkcoin sounds neat. If it's still strong in a couple months, I'll look at it then.  But now it's an unknown code, worth a lot of money, borrowed it's tech, and devs and friends probably own way more than half. I imagine said stake holders will relentlessly prop this coin. I would too if I had $500,000 worth of it.

Isn't that the most important thing?



It wasn't changed to 5, a HUGE amount of miners mining it made it that way. Block reward would be higher if there wasn't such a high hashpower mining.

Whether or not the coin will be successful is irrelevant.

Instaming 1,750,000 darkcoin in 15 hours, then changing the block reward from 500 to 5, matters to any sane person.

If you're so sure about it, please evaluate pros and cons of these both approaches and how they affect how successful a coin will be:

Fast distribution + low inflation
vs
Slow distribution + high inflation

Um, of course it does.

I don't believe the launch was perfect, far from it. But it happened, and I've stopped crying about it. And I don't think it really even matters. Those who suffered from the launch the most are those who instamine every launch with windows only (!) intending to dump as soon as someone is willing to pay something for their mined coins because they are busy mining the next 10 launches. Those who see the value in the coin could've easily bought thousands of coins basically for free from the previously mentioned launch sharks. Let's say there was a windows wallet immediately at launch. You would've probably instamined as much as possible and then sold all for 0.5 BTC and be just as pissed about it as you are now.

The initial 84mn formula with moore's law difficulty adjustment + annual reward halving, would produce no more than 10mn coins. 84mn was the theoretical maximum. The practical maximum of the initial formula was 10-11mn, not 84.

This was then altered (after community consultation) to 84mn (due to the formula being too restrictive) which, again, after discussion and a poll took the final form of 22mn with 7% annual reduction.

But wait you were crying on page 5 of the drk thread....and accusing the dev of instamining

The simple fact of the matter is this.

1. you can't say no premine in big letters suggesting fair distribution and then stop 80% of the board that uses windows or pools to mine from mining, whilst you and your buddies mine blocks of 500coins every second.

2. you can't after mining 2m coins release a windows qt and fix the diff up so that they can't mine 500 coin blocks on low diff like you did.

3. you can't also say to everyone else, we have mined 12.5% of all the current coins, but now we want that to be 50%


this is not on.

Stop saying anyone objecting to this behaviour is crying. Stop telling lies also.

If you believe this is a good way to launch coins then make a thread and take a vote. You will see many will not agree with you.

Funny thing is i now have a nice bunch of drk too. I still say it had a VERY BAD start though.

Please stop defending the start, you can't change the facts. Spend your time doing something constructive for drk and get the price back up to peak because i will not be happy if i missed the top of the bubble.

What you need to know about cryptohunter to understand where he is coming from, is that he was on _every_ coin launch with his (windows) rigs ready wanting to instamine and complaining about every little detail that didn't favor him, such sense of entitlement. And when everything wasn't set just right for his preferences, he would blow up and start throwing scam accusations left and right.

So you can imagine his feelings when something as outrageous as a launch without immediate access to windows wallet happens, and the coin later gains some value. When all he would've needed was to install free Linux running on free VirtualBox on his computer. Or, buy thousands of coins for basically free in the first weeks. But no, all he wanted was to instamine more than anyone else and dump as soon as possible, because that's the mindset of those launch sharks.

And btw, I'm also soooo jelly for the dude who had sooo many bitcoins that he could pay 10,000 for a pizza, but I don't stalk every bitcoin thread crying about it.

While the reason behind ignoring the altcoin subform makes sense, I wish individuals like yourself would come out and speak up more often. It's refreshing to hear the truth, but it's extremely difficult to know who to trust.

So, for that, I thank you.

+1
Some harsh words but I feel pissed too.
I meet some nice people in crypto but most of others are truly unbearable. They just simply pissed off because they missed the opportunity to make good investment or their coin is become less famous / get less attention than one coin. It is like your neighbour bought a new nice car and you pissed off because you can't afford this, but you still say nice thing to him like congratulation, blah blah. And your inner swine is angry. In cryptoland you just don't care about that and let's your inner swine goes wild. That's sick.

What happened with bitcoin was unique and non-replicable because it started its coin minting by generating zero-priced coins. So from zero price it could only go upwards, despite new coins being added to the monetary base (inflationary effect).

Bitcoin's inflation has hampered it much later in its life, like what's happening right now (3600 BTC x 650$ = 2.34mn USD required every day to keep price steady). This is the only barrier to the price getting to five digits right now.

Altcoins are different because they start with some expectation from the start. They have an initial value per coin that can't be kept steady. For example, we launch a coin today, 1000 coins are mined and it is listed in the exchange for 0.01... Second day we get to 2000 coins... so with the price being steady at 0.01, there is a +10 BTC requirement to absorb the new +1000 coins. Otherwise the price of all 2000 coins crumbles.

Even cryptonote-based coins have extremely bad inflation right now. Their price went up too fast and it wasn't sustainable given the inflation rate (so they crashed back down). Hundreds of BTCs per day are required just to keep CN-based coin prices steady. So real-life value and application cannot overcome the inflation issue. Investors simply don't have that type of money to throw in, every day. Nor can one wait 3-4 years for the inflation to get better and then buy. By that time the coin will be perceived as dead so there's no way one would seriously consider it. So it's a problem for altcoins on how to distribute the monetary base in a way that is fair, that does not kill the price (and the coin) through inflation and also preserves the PoW to future-proof levels.

^^^^^^^^^^ ignore every lie this person says.^^^^^^^^^^

this same moron is clearly there at the top of page5 of the drk thread accusing the dev of instamining ... his very comments were

"wut.. no premine but you have 5k to throw?"


this below was posted before the first windows qt and there were no pools either..




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Re: [ANN][XCO] XCoin | CPU - Fast, Easy Mine, * NO PREMINE * | Official Thread
19-01-2014, 09:07:36
Reply with quote  #103
{
    "blocks" : 2983,
    "currentblocksize" : 0,
    "currentblocktx" : 0,
    "difficulty" : 0.25000000,
    "errors" : "",
    "generate" : false,
    "genproclimit" : -1,
    "hashespersec" : 0,
    "networkhashps" : 87061476,
    "pooledtx" : 1,
    "testnet" : false
}

by the time the first windows wallet was released 2983 x500 + another 30mins of 500coin blocks coming in every second coins had been mined. We've been over all of this before, but this person keeps spouting the same stupid lies. That first windows qt was compiled by an unofficial source and only the most daring would have used it anyway.

So yeah after nearly 2M coins mined in  a few hours some other person put out an unofficial windows QT.

The block explorer clearly shows only a handful of wallets sucked up all of those early coins.


But even better than this part of the scam was the part where they reduced the final minting by 75%.


That was a brilliant idea to turn their 12.5% of current minting to 50%




No point arguing with fools like this turd because he is telling the dev he is a scammer at the top of page 5 but now he got in on the scam is defending it.

What a scum bag, just put that tool on ignore because he addes nothing to the debate but LIES.
He makes dark a laughing stock.

Funny thing is lately, i was taking down some rigs because the fans stopped spinning due to them being shitty msi and i was backing up all the wallets since i though i may as well clean the mobos as well and cpus. My cousin and a couple of his pals had been having a go at mining on my rigs before buying their own just to get the hang of it.

I don't know where they had stored the qt or perhaps they even deleted it. However in the roaming folder i found a darkcoin folder. So i got a new qt and found a nice stash of drk lol. I'm now wishing i had found it at the very peak. However it is a generous stash. YUMMY. Nice to have a little bag of drk scam coins to cash out.

Who cares i guess now, it was a scam, yes one of the largest scams. However there are tons of scams on here and the drk scam is well known by everyone, i guess they can choose to invest or not. Up until now it seems ED is the ONLY  dev that can make an anon coin? yes of course he won't make it open source but then again if other devs can't create a working anon coin, that is their issue. The scam i think went wrong for evans in a way. He didn't launch with a windows qt and grabbed a lot more coins than if the hoards of windows miners and pools were there. HOwever other big miners with 1000's of cores on launches are linux based anyway. I bet lamb took a ton of it and others. Now evans is left working his ass of for perhaps a couple of mill when really he could have been looking at a coin with a huge market cap and potentially tens or 100s of millions if it was not tainted with the launch and a wider base of people behind it. There are only a handful of hardcore supporters on this board, you notice the same names over and over defending it. This coin could have had a cap of 200M if it had started better and the minting not slashed.

XC (which i now discover i have less financial steak in that drk) seems to be having a crack at it along with the devs from cinni, cry, and another 20 coins. I have said weeks ago we will see a host of anon coins now. It will soon be standard. However whales please pump drk again to another peak because with my newly discovered wealth i have my eye on a few nice things.

Surely we are all getting bored of the dark scam coin threads. It was a scam no doubt, then again everyone could have grabbed up some cheap scam coins before it went crazy in price. I didn't and was real upset, more upset because i wanted to mine and was prevented from doing so because of no pools and no windows qt. However since finding a bag of it i had not noticed before has smoothed over the fact i'm not making millions with the other instaminers a few k is better than nothing.

I blame the scam defenders for keeping this going? i mean if they just stfu and said ...yeah was a scam, we got in on it you could have got in on it but didn't. Let that be the end of it then it would die out. HOwever their stupid insistance that it was all an accident and not a scam, and reducing the minting by 75% was good for everyone, and making it 1000 drk for a masternode was in no way meant to make the price go crazy....bla bla  is dragging these threads on and on and on.

The dev was really going to do the air drop, this was enough for me to believe he regrets the launch and the slashing of the minting. The other instaminer greedy slags are to blame here, they probably have more than evans and he is doing all of the work.

The lesson to future devs with some coding skills, launch fair take a bunch of coins for yourself but don't say no premine then try to instamine a ton. Don't change the rules after launch. Build a wide base of support and good will, give no reasons for negativity at all.

gmaxwell what about XC?

Not including the two (IIRC) other OT posts of yours that I outright deleted.

Uh, yea when the coin has no real value to folks and is just a speculative bubble or a speculative hedge... thats what happens. Not my cup of tea at least. As I've said, I normally leave the altcoin stuff alone— except for the rare novel idea, or someone pulling me in for an opinion in one way or another.

I seriously doubt this will achive anything in a future.

This Hazard guy who wrote this article is pretty well known in the community and his prediction is usually correct. Normally I enjoy his writing and respect him, but to be honest I feel some of his hostiles to a lot of coins. Of course he has some reasons to feel like this, and I understand why some devs who are very passionate about their creative child sometimes see others children as fatal virus / bacteria to their own child.

Hazard has written another article about NXT and call it scam. That's the reason I don't invest in NXT when it was at its lowest and now you all can see how NXT performs.
I mean every coin has its own weakness, but the most important thing is how it evolves later. You can hate DRK and avoid it, nobody forces you to invest in DRK if you don't want to. Everyone has his/her own opinion. So invest your time and money in what you believe, research about it. If you choose some coins to invest because you want to make fast money, you're in the wrong place. The same even for BTC, DRK or NXT.

Just my 2 DRKs.

Regards,

Yeah well and I can guess satoshi and his friends mined the first million bitcoins. There was no announcement, and of course you weren't notified of its future success... So by your rationale bitcoin is a 10bn $ scam.

DRK was preannounced. Its success wasn't though (and that's why people were selling 100k DRKs for 2.5BTC). Now a lot of people are butthurt because either they lost the train, or their own anonymous coin sucks so bad that it's not even funny.

Now go open some threads about why NXT is a huge scam since nobody mined anything but were given the stakes. Or Ripple. Or IPO'ed coins and would be IPO'ed coins like ethereum... Or Counterparty with the burned bitcoins... or all the POS and PoW/PoS hybrids with the 100% instamines... yeah much fairness for future miners in all those. But DRK gets all the attention. No surprises there though.


And? We know the totals in terms of coins.


There is no such thing as "equal opportunity". Early miners always have the advantage. Especially in the PoW/PoS hybrids that you don't see a problem with their instamine... what can the future miners mine in these coins? And you care about "equal opportunity"? Yeah, right.

Btw, this is my alleged pumping link that Greg took exception to: https://bitcointalksearch.org/topic/m.7159773

Thank you - Will let Evan know!

I guess something positive did come out of all this!

To the OP - your intentions were clearly bad - but there's a silver lining in every cloud haha