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Main => General Discussion => Topic started by: jae208 on May 23, 2014, 01:25:01 am

Title: What do you guys think about Darkcoin?
Post by: jae208 on May 23, 2014, 01:25:01 am
Darkcoin is doing good at the moment. I wonder how high this boom in Darkcoin will go? You guys are very smart on here which is why I even ask questions like these on this forum. Is this coin really as hard to trace as they claim it is? The claims on their website seem a little too good to be true IMO though. Any thoughts?

DARKCOIN DETAILS
0.00000% Pre-mined

Super secure hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)

Block reward: controlled by 2222222/(((Difficulty+2600)/9)^2)

Block generation: 2.5 minutes

Difficulty: retargets every minute using Dark Gravity Wave

Supply: estimated 22 million maximum coins

Superior transaction anonymity using DarkSend: RC1 testing on MainNet

http://www.darkcoin.io/intro.html
Title: Re: What do you guys think about Darkcoin?
Post by: Simeon II on May 23, 2014, 01:32:18 am
Let’s start answering from the most stupid (me) to the smartest.

No matter the technology, you have missed that train, i.e. too risky to invest or speculate at this almost vertical price increase…
Title: Re: What do you guys think about Darkcoin?
Post by: jae208 on May 23, 2014, 01:40:43 am
Let’s start answering from the most stupid (me) to the smartest.

No matter the technology, you have missed that train, i.e. too risky to invest or speculate at this almost vertical price increase…

Do you think it is increasing in value because people believe that it is a more anonymous coin or simply because they don't want to miss out on the boom that is currently happening?
Title: Re: What do you guys think about Darkcoin?
Post by: clout on May 23, 2014, 02:08:52 am
Let’s start answering from the most stupid (me) to the smartest.

No matter the technology, you have missed that train, i.e. too risky to invest or speculate at this almost vertical price increase…

Do you think it is increasing in value because people believe that it is a more anonymous coin or simply because they don't want to miss out on the boom that is currently happening?

It's going to get dumped.
Title: Re: What do you guys think about Darkcoin?
Post by: bitbro on May 23, 2014, 02:18:56 am

Let’s start answering from the most stupid (me) to the smartest.

No matter the technology, you have missed that train, i.e. too risky to invest or speculate at this almost vertical price increase…

Do you think it is increasing in value because people believe that it is a more anonymous coin or simply because they don't want to miss out on the boom that is currently happening?

It's going to get dumped.

Probably tomorrow


Sent from my iPhone using Tapatalk
Title: Re: What do you guys think about Darkcoin?
Post by: xeroc on May 23, 2014, 04:51:01 am
X11 and all other hashing chains are not more secure just because ... I can remember a dev telling that the contrary is the case ... cant find link atm though...

My guess ... people are dumb and mix up darkwallet, darkmarket and darkcoin...

The only thing drk offers is a little more anonymity using an algorithm (darksend) which is btw not open sourced yet
Title: Re: What do you guys think about Darkcoin?
Post by: fuzzy on May 23, 2014, 06:53:14 am
Still cool though.
Title: Re: What do you guys think about Darkcoin?
Post by: liondani on May 23, 2014, 07:25:49 am
Quote from: xeroc

My guess ... people are dumb and mix up darkwallet, darkmarket and darkcoin...

If that is true let's "rename" pts2 to Protodark or Darkshares, dark sounds like DAC anyway   :)

Sent from my ALCATEL ONE TOUCH 997D using Tapatalk
Title: Re: What do you guys think about Darkcoin?
Post by: xeroc on May 23, 2014, 08:43:33 am
Lol
Title: Re: What do you guys think about Darkcoin?
Post by: bitbadger on May 23, 2014, 09:45:27 am
I am riding high with DRK.  It is the only coin that I know of where the dev is committed to the addition of important new features over time, eschewing the "no-hard-forks" "stability" that most devs try to enforce.  Most devs act as "hands-off gods" who code their coin, release it into the wild and subsequently only make critical security upgrades when necessary.  The idea of a coin whose very ideas are not set in stone, is in itself unique.  (In theory, Bitcoin and others allow for continued development, but their pace of development is laughably slow.... by the time Bitcoin implements a new feature, it will have existed in an altcoin for months if not years.)

The idea of "Masternodes" who earn 10% of all mined coins, and which act as coin-mixers, and which must be seeded with 1000 DRK (locked while the Masternode is running) is actually kind of similar to the "Trustees" in dPoS.  The 1000 DRK requirement has also created a positive feedback loop where the coins are effectively removed from the market, driving the price up, which in turn makes the Masternodes more profitable because they earn new coins daily without mining.

The anonymity features are also great, of course, and what everybody is excited about right now.  But I will say that I am at least as excited by the developer's competence and commitment to continued active development as I am by any of the existing features.  It is not the typical "release new version only when flaws are found" coin.  I fully expect DRK to implement some Bitcoin-2.0 features within a year (after all the anonymity features have been fully implemented).  AFAIK, Counterparty could be easily adapted to work on top of DRK, and I don't see any reason why it couldn't be fully supported by DRK itself (as opposed to the sometimes oppositional relationship between XCP and BTC devs).
Title: Re: What do you guys think about Darkcoin?
Post by: luckybit on May 23, 2014, 10:57:09 am
Darkcoin is doing good at the moment. I wonder how high this boom in Darkcoin will go? You guys are very smart on here which is why I even ask questions like these on this forum. Is this coin really as hard to trace as they claim it is? The claims on their website seem a little too good to be true IMO though. Any thoughts?

DARKCOIN DETAILS
0.00000% Pre-mined

Super secure hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)

Block reward: controlled by 2222222/(((Difficulty+2600)/9)^2)

Block generation: 2.5 minutes

Difficulty: retargets every minute using Dark Gravity Wave

Supply: estimated 22 million maximum coins

Superior transaction anonymity using DarkSend: RC1 testing on MainNet

http://www.darkcoin.io/intro.html

Darkcoin is backed by fear. Fear of loss of privacy, and most likely fear of the government.

But if you look closely at it, it's nothing more than good marketing. The reason I'm not behind Darkcoin but I am behind Blackcoin is because Blackcoin has marketing which can reach all demographics. Blackcoin is marketed as being cool.

Remember the Sega Genesis had Sonic the Hedgehog and it sold so well because Sonic was considered cool? That is what Blackcoin uses for marketing. Dogecoin uses being a cute meme and psychology.

So I will say Darkcoin is a well marketed coin but it's ultimately not a marketing strategy which will last. We have Darkwallet already, and we have CoinJoin, so what problem is Darkcoin solving which wasn't already solved?

The only problem Darkcoin has solved is marketing. If your goal is privacy do you really need all these fancy mixers and elaborate schemes? I don't think so. I think if you want to duplicate this kind of marketing then you create the most complicated sounding privacy protecting scheme you can, 7 proxies, bumping off of satellites in space, or whatever.

The truth is the only thing you need for privacy is to never reuse the same key. Satoshi put it in the original whitepaper and all this other stuff is unnecessary if you design the coin by default not to allow bad habits. You design fault tolerance into the coin itself, similar to how you have bathroom doors which close themselves and open themselves so people don't have to touch them after washing their hands.

Oh yeah and DRK is Proof of Work so that means it's obsolete at launch. Maybe if they were to upgrade to Proof of Stake I would give it's developer more credit.
Title: Re: What do you guys think about Darkcoin?
Post by: solaaire on May 23, 2014, 01:52:54 pm

The truth is the only thing you need for privacy is to never reuse the same key. Satoshi put it in the original whitepaper and all this other stuff is unnecessary if you design the coin by default not to allow bad habits. You design fault tolerance into the coin itself, similar to how you have bathroom doors which close themselves and open themselves so people don't have to touch them after washing their hands.
I feel you here, good design can go a long way
Oh yeah and DRK is Proof of Work so that means it's obsolete at launch. Maybe if they were to upgrade to Proof of Stake I would give it's developer more credit.

i dont know if i agree with this. PoW attracts miners which seems to help kickstart crypto markets in their infancy. also bitbadger pointed out that the development team is pretty active. PoW probably won't be around forever but a good development team could probably migrate the existing blockchain to a more sustainable consensus algorithm, similar to how pts is migrating to pts2
Title: Re: What do you guys think about Darkcoin?
Post by: jae208 on May 23, 2014, 03:54:24 pm
Quote from: xeroc

My guess ... people are dumb and mix up darkwallet, darkmarket and darkcoin...

If that is true let's "rename" pts2 to Protodark or Darkshares, dark sounds like DAC anyway   :)

Sent from my ALCATEL ONE TOUCH 997D using Tapatalk

 +5%
Title: Re: What do you guys think about Darkcoin?
Post by: jae208 on May 23, 2014, 05:05:09 pm
I am riding high with DRK.  It is the only coin that I know of where the dev is committed to the addition of important new features over time, eschewing the "no-hard-forks" "stability" that most devs try to enforce.  Most devs act as "hands-off gods" who code their coin, release it into the wild and subsequently only make critical security upgrades when necessary.  The idea of a coin whose very ideas are not set in stone, is in itself unique.  (In theory, Bitcoin and others allow for continued development, but their pace of development is laughably slow.... by the time Bitcoin implements a new feature, it will have existed in an altcoin for months if not years.)

The idea of "Masternodes" who earn 10% of all mined coins, and which act as coin-mixers, and which must be seeded with 1000 DRK (locked while the Masternode is running) is actually kind of similar to the "Trustees" in dPoS. 

Clearly they are doing something right if there are similarities between us and them.

The 1000 DRK requirement has also created a positive feedback loop where the coins are effectively removed from the market, driving the price up, which in turn makes the Masternodes more profitable because they earn new coins daily without mining.

The anonymity features are also great, of course, and what everybody is excited about right now.  But I will say that I am at least as excited by the developer's competence and commitment to continued active development as I am by any of the existing features.  It is not the typical "release new version only when flaws are found" coin.  I fully expect DRK to implement some Bitcoin-2.0 features within a year (after all the anonymity features have been fully implemented).  AFAIK, Counterparty could be easily adapted to work on top of DRK, and I don't see any reason why it couldn't be fully supported by DRK itself (as opposed to the sometimes oppositional relationship between XCP and BTC devs).
Title: Re: What do you guys think about Darkcoin?
Post by: jae208 on May 23, 2014, 05:06:40 pm
Let’s start answering from the most stupid (me) to the smartest.

No matter the technology, you have missed that train, i.e. too risky to invest or speculate at this almost vertical price increase…

Do you think it is increasing in value because people believe that it is a more anonymous coin or simply because they don't want to miss out on the boom that is currently happening?

It's going to get dumped.

I'm waiting for it to get dumped so I can get some  8)
Title: Re: What do you guys think about Darkcoin?
Post by: mint chocolate chip on May 23, 2014, 10:04:04 pm
Let’s start answering from the most stupid (me) to the smartest.

No matter the technology, you have missed that train, i.e. too risky to invest or speculate at this almost vertical price increase…

Do you think it is increasing in value because people believe that it is a more anonymous coin or simply because they don't want to miss out on the boom that is currently happening?

It's going to get dumped.

I'm waiting for it to get dumped so I can get some  8)

My foray into DRK started yesterday when I bought a bitcoins worth, today I sold them all for a net of -0.033!!!
Title: Re: What do you guys think about Darkcoin?
Post by: johncitizen on May 24, 2014, 05:37:20 pm
This is always an interesting debate.

Although darkcoin was not premined, there is clear evidence of an instamine during the beginning. Also the technology that has been the foundation of the coins hype (masternodes) has been inherently flawed. There was talk of implementing cryptonotes "ring signatures" into the project but these coins operate on entirely different algorithms- ring signatures are not merely implemented. I believe satoshi himself would struggle with the task.

The next two coins of interest are Monero and Bytecoin although both possessing very questionable emission curves. Instamining in my opinion is unacceptable.

The community answered with the solution of Quazarcoin. An emission curve that closely mimics bitcoin itself but much smoother (very fair indeed). This coin in my opinion is extremely undervalued. I do not like to talk about other coins in bitshares postings (unless constructive) but as you asked I will share my knowledge. https://bitcointalk.org/index.php?topic=600658.0

Take into consideration both monero and quasar are both in the early stages before the marketing push. As a serious investor- my money is on quasar hedging 10-2 monero.

Community rivalry is strong in the anon sector and FUD/smear campaigns are in full swing. Do the maths and stick to the facts.


Quasar
Appx 100k coins
Market price 0.0052
=
Appx 520btc cap ($270,400USD)

Monero
Appx 800k coins
Market price 0.006
=
Appx 4800btc ($2,500,00USD)

PS. I am also eyeing off the ridiculously low AGS at the moment. The greatest investments are made where others have turned a blind eye. AGS are blue chips in crypto.
Title: Re: What do you guys think about Darkcoin?
Post by: solaaire on May 24, 2014, 08:11:50 pm
thanks for the insight johncitizen. i wont pretend to know much about the nuances of these algorithms but i do find it very interesting that darkcoin is performing so well in light of an instamine and a flawed design...

quazar looks cool. i havent mined anything in a while but i just might have to put the ol' CPU to work again!
Title: Re: What do you guys think about Darkcoin?
Post by: jae208 on May 25, 2014, 12:46:27 am
Darkcoin is doing good at the moment. I wonder how high this boom in Darkcoin will go? You guys are very smart on here which is why I even ask questions like these on this forum. Is this coin really as hard to trace as they claim it is? The claims on their website seem a little too good to be true IMO though. Any thoughts?

DARKCOIN DETAILS
0.00000% Pre-mined

Super secure hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)

Block reward: controlled by 2222222/(((Difficulty+2600)/9)^2)

Block generation: 2.5 minutes

Difficulty: retargets every minute using Dark Gravity Wave

Supply: estimated 22 million maximum coins

Superior transaction anonymity using DarkSend: RC1 testing on MainNet

http://www.darkcoin.io/intro.html

Darkcoin is backed by fear. Fear of loss of privacy, and most likely fear of the government.

But if you look closely at it, it's nothing more than good marketing. The reason I'm not behind Darkcoin but I am behind Blackcoin is because Blackcoin has marketing which can reach all demographics. Blackcoin is marketed as being cool.

I haven't looked at Blackcoin but I will look at it since you mentioned it.

Remember the Sega Genesis had Sonic the Hedgehog and it sold so well because Sonic was considered cool? That is what Blackcoin uses for marketing. Dogecoin uses being a cute meme and psychology.

So I will say Darkcoin is a well marketed coin but it's ultimately not a marketing strategy which will last. We have Darkwallet already, and we have CoinJoin, so what problem is Darkcoin solving which wasn't already solved?

Do you think that it may be because people are just too lazy to take additional steps and instead prefer a coin with everything they want integrated already? When I think of something like Litecoin or most alt coins they aren't really solving or improving upon Bitcoin.

The only problem Darkcoin has solved is marketing. If your goal is privacy do you really need all these fancy mixers and elaborate schemes? I don't think so. I think if you want to duplicate this kind of marketing then you create the most complicated sounding privacy protecting scheme you can, 7 proxies, bumping off of satellites in space, or whatever.

The truth is the only thing you need for privacy is to never reuse the same key. Satoshi put it in the original whitepaper and all this other stuff is unnecessary if you design the coin by default not to allow bad habits. You design fault tolerance into the coin itself, similar to how you have bathroom doors which close themselves and open themselves so people don't have to touch them after washing their hands.

Oh yeah and DRK is Proof of Work so that means it's obsolete at launch. Maybe if they were to upgrade to Proof of Stake I would give it's developer more credit.


Title: Re: What do you guys think about Darkcoin?
Post by: jae208 on May 25, 2014, 06:14:17 am
This is always an interesting debate.

Although darkcoin was not premined, there is clear evidence of an instamine during the beginning. Also the technology that has been the foundation of the coins hype (masternodes) has been inherently flawed. There was talk of implementing cryptonotes "ring signatures" into the project but these coins operate on entirely different algorithms- ring signatures are not merely implemented. I believe satoshi himself would struggle with the task.

The next two coins of interest are Monero and Bytecoin although both possessing very questionable emission curves. Instamining in my opinion is unacceptable.

The community answered with the solution of Quazarcoin. An emission curve that closely mimics bitcoin itself but much smoother (very fair indeed). This coin in my opinion is extremely undervalued. I do not like to talk about other coins in bitshares postings (unless constructive) but as you asked I will share my knowledge. https://bitcointalk.org/index.php?topic=600658.0

Take into consideration both monero and quasar are both in the early stages before the marketing push. As a serious investor- my money is on quasar hedging 10-2 monero.

Community rivalry is strong in the anon sector and FUD/smear campaigns are in full swing. Do the maths and stick to the facts.


Quasar
Appx 100k coins
Market price 0.0052
=
Appx 520btc cap ($270,400USD)

Monero
Appx 800k coins
Market price 0.006
=
Appx 4800btc ($2,500,00USD)

PS. I am also eyeing off the ridiculously low AGS at the moment. The greatest investments are made where others have turned a blind eye. AGS are blue chips in crypto.

Thank you very much for taking the time to respond. I will take a look.  +5%
Title: Re: What do you guys think about Darkcoin?
Post by: liondani on May 25, 2014, 10:26:22 am
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 (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...
Title: Re: What do you guys think about Darkcoin?
Post by: toast on May 25, 2014, 04:49:55 pm
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.
Title: Re: What do you guys think about Darkcoin?
Post by: xeroc on May 25, 2014, 04:54:19 pm
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
Title: Re: What do you guys think about Darkcoin?
Post by: liondani on May 25, 2014, 05:32:17 pm
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?
Title: Re: What do you guys think about Darkcoin?
Post by: onceuponatime on May 25, 2014, 05:37:38 pm
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
Title: Re: What do you guys think about Darkcoin?
Post by: toast on May 25, 2014, 06:14:01 pm
NVM... Darkcoin already uses "stealth addresses" and the only difference is that we have named addresses
Title: Re: What do you guys think about Darkcoin?
Post by: xeroc on May 25, 2014, 06:58:51 pm
Afair darkcoin uses coinjoin
Title: Re: What do you guys think about Darkcoin?
Post by: donkeypong on May 25, 2014, 11:47:58 pm
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.
Title: Re: What do you guys think about Darkcoin?
Post by: toast on May 25, 2014, 11:53:44 pm
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.
Title: Re: What do you guys think about Darkcoin?
Post by: donkeypong on May 26, 2014, 04:58:52 am
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.
Title: Re: What do you guys think about Darkcoin?
Post by: jae208 on May 26, 2014, 05:36:29 am
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?
Title: Re: What do you guys think about Darkcoin?
Post by: xeroc on May 26, 2014, 06:59:22 am
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 ..
Title: Re: What do you guys think about Darkcoin?
Post by: FatMiller on May 26, 2014, 01:31:23 pm
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://image-store.slidesharecdn.com/57646872-dccf-11e3-8c9a-22000ab926d3-large.jpeg)

http://emill.org/coins/DRK
Title: Re: What do you guys think about Darkcoin?
Post by: donkeypong on May 26, 2014, 03:24:27 pm
Congratulations on finding this month's flavor.
Title: Re: What do you guys think about Darkcoin?
Post by: bitbadger on May 27, 2014, 04:39:44 am
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.