I'm not really sure about the Darknote defenders, it's a fact of life that new technology comes out often decimating the old.
This is that time.
Bytecoin could of had it sure, but greed ruined them, greed unravels all.
Monero's based on a technology that makes Darkcoin look like a toy, even the creator of CoinJoin (the tech Darkcoin is based on) has admitted this CryptoNote tech is far stronger than CoinJoin and works. [1]
The creator of the fundamental tech of Darkcoin admits the tech in Monero is superior.
I am unsure why there is even an argument in favour of Darkcoin at this point, except it's got great "pumping" power.
Yeah, let us build a future on top of it's ability to pump and pump.
Give me a break.
[1] Remember gmaxwell is talking about CryptoNote based technologies here, this includes Monero. Also I believe gmaxwell devised CoinJoin. If he says this then any argument Darkcoin fans have is now 100% void.
extremely interesting thread...what struck my eye was the slow validations which can cause a major clog with transactions when Dark Coin (based off of CoinJoin) gets bigger, right? The more coins transacted the slower the confirmations am I right in saying that?
No, not in a meaningful sense. Validation is very cheap. You do run into block size limits if you're trying to transact too much at once, but any privacy system is limited in its privacy by transaction volume.
"Dark Coin" really strikes me as pointless. The whole idea in coinjoin is that coinjoin is already part of the design of Bitcoin. There is no advantage in having a new and different system. If you're going to do something incompatible, losing Bitcoin's network effect in the process, then you can do something much stronger.
It also depresses me somewhat to see people talking about darkcoin (or even zerocoin/zerocash) when
bytecoin has a privacy system with much better properties than CoinJoin (it's similar to CJ except you safely join with offline coin holders, and all users are participants), something made possible by the fact that it doesn't have to fit within the existing Bitcoin network, and it's completely practical, reasonably performant and deployed for some time now. But strangely, it's virtually unheard of... Bytecoin's privacy properties are in some sense weaker than zerocoin's— since its like a supercharged coinjoin— but the cryptography is much stronger and much more efficient, so in practice I'd expect it to have better anonymity just due to it being much more practical (also as evidence to it existing as a deployed system). ... so yea, if you actually are interested in privacy technology in a non-bitcoin system, Bytecoin seems to have pretty much nailed it.
Hey guys, can someone explain me like I am five the differences between Bytecoin and Monero?
ByteCoin is a currency used exclusively by a community of highly private, intelligent and respectable people. In trying to respect their desire to remain a closed community, Monero was created with the intent to achieve mass adoption.
The entire point of an anonymous currency is that you're mixing with the world helping break any linkage between coin movements. I can assure you they never intended to keep themselves closed forever, just long enough to build up their stacks.
Hey guys, can someone explain me like I am five the differences between Bytecoin and Monero?
Both are the same, Bytecoin has a 2 year chain where most of the coins have been mined, but it was only 'released' 9 weeks ago.
Monero is a movement to bring this technology to the worlds people without having the vast majority of the currency owned by a small few.
Also the Monero client and miners are all far faster than Bytecoin, the Monero developers have moved fast to prove themselves competent and able.
Monero's hashrate is vastly greater than Bytecoin's, indicating the community at large agrees with this assertion.
