Topic: Why the darkcoin/dash/dashpay instamine matters - page 13. (Read 47796 times)

it is a shame documented evidence of the scam...

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!

With this evidence alone I am not sure why he is not sitting in jail yet.

scams seem to quite well it is a shame

the board is once again getting filled with dash spam.

That taoofsaatoshi has been useful in the past but now has turned full dash spammer on the main board. They should be limited to their thread. The coin is generally accepted to be a scam by the majority of the board. They have a cheek coming back to the main section spamming it over and over again.

Interesting.   I wouldn't mind hearing an explanation for how he knows this but I doubt that will be forthcoming.   Can it.possibly be that he's inferring it from exchange transaction volume or some such thing?

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.

Where were the rest of THE (non-profit, WTF!) DARKCOIN FOUNDATION, INC during the Day of The Instamine, and how many Masternodes did they fund with the proceeds?

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.

smooth are you not understanding my logic? Everything Evan is writing in that document appears to me to be incriminating. Here is another example:


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.

I'm doubting that such a fix even happened. I've seen no evidence of it.

The fix I see was one to correct the extra coin rewards. That was announced roughly 17 hours after launch, with the fix to go into effect about 1 1/2 days after launch (ending the instamine):


There was an earlier fix for a "critical bug" about one hour after launch but I've never worked out exactly what it was that changed. I don't think it was related to difficulty or block rewards:


So as far as I can tell the claimed difficulty adjustment fix from the above so called Instamine Clarification "official statement" never happened.

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.


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.

[Duffplanations Intensify]

How many coats of gloss is Duffield going to apply in his endless attempts to polish the instamine turd?

Does he really think the intrinsic problems with instamines (compounded by Masternode Ponzi marketing) are resolved with hand-waving and probabilistic happy talk?

Great catch on the miscaracterization of the instamine as somehow being "Lightcoin's fault."  Since LTC has constant block rewards, the immensely profitable instamine fiasco is clearly the result of Evan's incompetence and/or malfeasance in implementing dynamic subsidies.

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+Clarification

Repeats 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).

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The diagram of how Dash works now (and I suggest you click that quote below and read that entire thread over there):

wow very interesting great read

Who cares anyway. Not like this garbage is actually being used. Just a speculative vehicle based on scammy fundamentals.

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