Author Topic: What do you guys think about Darkcoin?  (Read 8451 times)

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Offline bitbadger

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Can't you just use a browser plug in like Dark Wallet (alpha stage) and make Bitcoin transactions just as stealthy as Darkcoin?
Yes .. you can ..

If you just want to send, yes.  If you want to receive, you'll have to make sure your sender uses Dark Wallet as well.  With Darkcoin, mixing is built in to the client and enabled as default.
Pei5BrnEUqcCuUdffNZmBPL3rg6duj3vnU

Offline donkeypong

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Congratulations on finding this month's flavor.

Offline FatMiller

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Darkcoin is NUMBER 3 in the Crypto world!

Recently I wanted to know which crypto coins ARE having a grip on the public and which are dying out.
I wanted to measure success and failure of cryptocoins.

And what is more reliable than amount of money people invested into coins?
Market Cap can be a very misleading stat... albeit an important one. So I decided to go for Average Trades Volume.

I created a list of coins and ranked them according to average trades for last 30 days: http://emill.org/coins

And, according to the ranking, Darkcoin is NUMBER 3 with average trade volume $3.63 Million a DAY

Congratulation to the developers and miners!


http://emill.org/coins/DRK

Offline xeroc

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Can't you just use a browser plug in like Dark Wallet (alpha stage) and make Bitcoin transactions just as stealthy as Darkcoin?
Yes .. you can ..

Offline jae208

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Within the next few months, many U.S. states will have regulations regarding Bitcoin and cryptos. These will be consistent with the federal guidance and similar to those in other jurisdictions. In order to participate in the crypto trade, businesses will need to be able to show they are not engaging in money laundering. In other words, things will need to be traceable. There was a market for Napster and there may be one for Darkcoin. But when we look at the potential for cryptocurrencies to become a significant force in the economy, we are talking about the above-ground economy there, the legal one.

When Amazon or Western Union or some big wallet or exchange or payment processor (all just examples) decide to add support for cryptos, do you think they're going to choose Darkcoin? They cannot choose Darkcoin if it's essentially illegal to do so. Aside from drug dealers, plus a few techies and libertarians, Darkcoin's growth prospects will be very limited. And if it does grow, you'll see law enforcement cracking down on some of the larger businesses that use it. When those federal agencies strike, they shoot first and ask questions later, so the principle of "innocent until proven guilty" really does not apply. They can ruin an individual's or a business' reputation in no time and create a very protracted process that is extremely expensive. Six, 12, or 18 months later, when they finally drop the charges or accept a lesser plea, the damage is done.

No serious businesses or investors will have anything to do with Darkcoin.

Nothing prevents a business from keeping Darkcoin records. After all, everything you can do with darkcoin, you could theoretically do with Bitcoin, since the scripting language is expressive enough to do stealth addresses.

Think about it, your reasoning applies to cash too.

Can't you just use a browser plug in like Dark Wallet (alpha stage) and make Bitcoin transactions just as stealthy as Darkcoin?
http://bitsharestutorials.com A work in progress
Subscribe to the Youtube Channel
https://www.youtube.com/user/BitsharesTutorials

Offline donkeypong

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Toast: I know that's a double standard, but Darkcoin provides more than enough reason for the government to treat it differently than cash. The government benefits from the flow of dollars, while they don't have a piece of the cryptos (as far as we know, though some people think Satoshi was NSA). Look what the regulators are doing now with cryptos: they're drawing a line in the sand with the traceability ("anti-money laundering") and tightening up the banks. They'll force the real criminals to use cash or go with underground cryptos. Then watch them effectively shut down the underground ones by going after visible users, just like they did with some of the visibly illicit Bitcoin users (Silk Road, etc.). Yes, they have a double standard; it's partly to protect the dollar and partly because they don't understand this new world. Plus, their pride won't let anyone get away with blatantly ignoring everything they've been telling us. The government stays on that trail every single time, taking years if they must, and they do not forget.

That's why I said that when the federal agencies involve themselves, it's not "innocent until proven guilty." In a court of law, that is the standard, but they'll ruin someone long before that day in court ever arrives. Darkcoin has expressly gone against everything the government has been telling us we need as a minimum threshold in this field. I know it's supposed to be anonymous, but people will make mistakes and there will be some fairly obvious circumstantial transactions (e.g., a bank transfer and then a purchase of something for the same amount). The government will watch for awhile, learn, and if the currency gains any real traction, they will take some high profile actions that scare off a lot of people. Don't forget that when they finally got Al Capone, it was on tax evasion.

So I don't think this coin has a long future. But then again, Napster didn't need a future to be successful. It just needed a past and present before it burned out.
« Last Edit: May 26, 2014, 05:06:12 am by donkeypong »

Offline toast

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Within the next few months, many U.S. states will have regulations regarding Bitcoin and cryptos. These will be consistent with the federal guidance and similar to those in other jurisdictions. In order to participate in the crypto trade, businesses will need to be able to show they are not engaging in money laundering. In other words, things will need to be traceable. There was a market for Napster and there may be one for Darkcoin. But when we look at the potential for cryptocurrencies to become a significant force in the economy, we are talking about the above-ground economy there, the legal one.

When Amazon or Western Union or some big wallet or exchange or payment processor (all just examples) decide to add support for cryptos, do you think they're going to choose Darkcoin? They cannot choose Darkcoin if it's essentially illegal to do so. Aside from drug dealers, plus a few techies and libertarians, Darkcoin's growth prospects will be very limited. And if it does grow, you'll see law enforcement cracking down on some of the larger businesses that use it. When those federal agencies strike, they shoot first and ask questions later, so the principle of "innocent until proven guilty" really does not apply. They can ruin an individual's or a business' reputation in no time and create a very protracted process that is extremely expensive. Six, 12, or 18 months later, when they finally drop the charges or accept a lesser plea, the damage is done.

No serious businesses or investors will have anything to do with Darkcoin.

Nothing prevents a business from keeping Darkcoin records. After all, everything you can do with darkcoin, you could theoretically do with Bitcoin, since the scripting language is expressive enough to do stealth addresses.

Think about it, your reasoning applies to cash too.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline donkeypong

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Within the next few months, many U.S. states will have regulations regarding Bitcoin and cryptos. These will be consistent with the federal guidance and similar to those in other jurisdictions. In order to participate in the crypto trade, businesses will need to be able to show they are not engaging in money laundering. In other words, things will need to be traceable. There was a market for Napster and there may be one for Darkcoin. But when we look at the potential for cryptocurrencies to become a significant force in the economy, we are talking about the above-ground economy there, the legal one.

When Amazon or Western Union or some big wallet or exchange or payment processor (all just examples) decide to add support for cryptos, do you think they're going to choose Darkcoin? They cannot choose Darkcoin if it's essentially illegal to do so. Aside from drug dealers, plus a few techies and libertarians, Darkcoin's growth prospects will be very limited. And if it does grow, you'll see law enforcement cracking down on some of the larger businesses that use it. When those federal agencies strike, they shoot first and ask questions later, so the principle of "innocent until proven guilty" really does not apply. They can ruin an individual's or a business' reputation in no time and create a very protracted process that is extremely expensive. Six, 12, or 18 months later, when they finally drop the charges or accept a lesser plea, the damage is done.

No serious businesses or investors will have anything to do with Darkcoin.

Offline xeroc

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Afair darkcoin uses coinjoin

Offline toast

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NVM... Darkcoin already uses "stealth addresses" and the only difference is that we have named addresses
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline onceuponatime

I think the two address slightly different problems - Darkcoin is essentially a laundering service built into the blockchain while TITAN is, well, a way to Transfer Invisibly To A Name - that is, be able to send to a named key without others knowing which named key it is. TITAN is basically "bitcoin with forced best practices", which *almost* makes darkcoin unnecessary.

i am lost! What is TITAN?

https://bitsharestalk.org/index.php?topic=4699.0

Offline liondani

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I think the two address slightly different problems - Darkcoin is essentially a laundering service built into the blockchain while TITAN is, well, a way to Transfer Invisibly To A Name - that is, be able to send to a named key without others knowing which named key it is. TITAN is basically "bitcoin with forced best practices", which *almost* makes darkcoin unnecessary.

i am lost! What is TITAN?

Offline xeroc

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I think the two address slightly different problems - Darkcoin is essentially a laundering service built into the blockchain while TITAN is, well, a way to Transfer Invisibly To A Name - that is, be able to send to a named key without others knowing which named key it is. TITAN is basically "bitcoin with forced best practices", which *almost* makes darkcoin unnecessary.
+5%  holy moly

Offline toast

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I think the two address slightly different problems - Darkcoin is essentially a laundering service built into the blockchain while TITAN is, well, a way to Transfer Invisibly To A Name - that is, be able to send to a named key without others knowing which named key it is. TITAN is basically "bitcoin with forced best practices", which *almost* makes darkcoin unnecessary.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline liondani

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I guess bitshares DPOS "PTS2" will be more advanced/superior than Darkcoin (anonymity-related) after bytemaster's implementations !
When you add all other advantages that only bitshares have...welll then... we must reimagine really everything  :)
Hope they will only market it properly because it's a great future like Darkcoin's has prooved us and it is a shame that only we know about it!  :) ;)

source: https://bitsharestalk.org/index.php?topic=4699.0
Given we have a name system in the blockchain that allows you to know the public key of user A.   We can use DH ECC to generate a unique receiving address for user A as so.

Create TempPrivateKey   TEMP.PRIVATE_KEY
TEMP.PRIVATE_KEY * USER.PUBLIC_KEY => SECRET  => ONE_TIME_PRIVATE_KEY => ONE_TIME_ADDRESS

Send a transaction that pays to ONE_TIME_ADDRESS and attaches TEMP.PUBLIC_KEY

Every client on the network will be able to perform the following operation:

USER.PRIVATE_KEY * TEMP.PUBLIC_KEY => SECRET => ONE_TIME_PRIVATE_KEY

If ONE_TIME_PRIVATE_KEY is the one that controls ONE_TIME_ADDRESS  then user will immediately spend the funds from ONE_TIME_ADDRESS to NEW_ADDRESS because the sender retains the ability to cancel the transaction. 


The plus side of this is:
  a) no need to exchange addresses
  b) ability to encode a message and 'from' data into the transaction
  c) the receiver is anonymous to everyone but the sender
  d) potential to cancel/retract a transfer if it is not accepted in a timely manner.
  e) simplifies accounting in the wallet
  f) generates higher fees and dividends

The downside to this:
  a) Uses more space in the blockchain
  b) Requires two transactions
  c) Results in higher fees


Discuss...
« Last Edit: May 25, 2014, 10:32:07 am by liondani »