AlexGR



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LegendaryActivity: 1708Merit: 1030 Re: [ANN][DRK] DarkCoin | First Anonymous Coin | No Premine | DGW | ASIC Resistant March 21, 2014, 07:20:02 PM #9941 Quote from: coins101 on March 21, 2014, 07:12:23 PM Quote from: AlexGR on March 21, 2014, 06:51:39 PM Quote If you push too hard for only investors to get in, the end-users who would most benefit from the anonymity factor (people in seriously oppressive regimes and the suchlike) won't be able to, and it'll become stagnant, and full of partially laundered money that rarely moves.



This can't happen. If the price goes up many times due to being a store of value coin, then the quantities needed for trading or trading anonymously, go down massively because each monetary unit (1 DRK) represents a much higher value: A $100 DRK will require 1/100th of the coins being liquid and on the move, in order to facilitate trade, compared to a $1 DRK.



It's an auto-compensation mechanism.



A scarce, low-inflation, high-value coin can also be a medium of payments/commercial transactions etc. The opposite is not true however: You can have any coin as a medium of payments but not as a store of value, unless it satisfies certain criteria.



The choice is really not between



a) A store of value coin which is unable to do payments



and



b) A payment coin which cannot hold value





...it's rather





c) A coin that can do payments AND be a store of value - because these two are not mutually exclusive



vs



d) A payment coin which cannot hold value







The problem of (b/d) is this: Coin competition is strong. In order to survive out there you must have the least amount of improvable weaknesses. Every weakness of yours can be exploited by others. You can have the best technical coin and a clone will come and then say: "Darkcoin was great but it is too inflationary for it to become both a payment medium AND a store of value... so we fixed their problem and we'll do better" => problem right there.

This can't happen. If the price goes up many times due to being a store of value coin, then the quantities needed for trading or trading anonymously, go down massively because each monetary unit (1 DRK) represents a much higher value: A $100 DRK will require 1/100th of the coins being liquid and on the move, in order to facilitate trade, compared to a $1 DRK.It's an auto-compensation mechanism.A scarce, low-inflation, high-value coin can also be a medium of payments/commercial transactions etc. The opposite is not true however: You can have any coin as a medium of payments but not as a store of value, unless it satisfies certain criteria.The choice is really not betweena) A store of value coin which is unable to do paymentsandb) A payment coin which cannot hold value...it's ratherc) A coin that can do payments AND be a store of value - because these two are not mutually exclusivevsd) A payment coin which cannot hold valueThe problem of (b/d) is this: Coin competition is strong. In order to survive out there you must have the least amount of improvable weaknesses. Every weakness of yours can be exploited by others. You can have the best technical coin and a clone will come and then say: "Darkcoin was great but it is too inflationary for it to become both a payment medium AND a store of value... so we fixed their problem and we'll do better" => problem right there.

This means we should create a darkcoin gravity wave for coin issuance over a fixed supply:



more transactions, more fees, less coins issued



Few transactions, lower fees, more mined coins.

This means we should create a darkcoin gravity wave for coin issuance over a fixed supply:more transactions, more fees, less coins issuedFew transactions, lower fees, more mined coins.

Heh... I can only imagine what would happen with fake transactions in order to increase the mining output Heh... I can only imagine what would happen with fake transactions in order to increase the mining output

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AlexGR



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LegendaryActivity: 1708Merit: 1030 Re: [ANN][DRK] DarkCoin | First Anonymous Coin | No Premine | DGW | ASIC Resistant March 21, 2014, 07:33:24 PM #9942 Quote from: camosoul on March 21, 2014, 07:14:19 PM Pick something and stop screwing with it. You're goofing around with the most important aspect of a cryptocoin's value capacity and trustworthiness. 20%, 30%, who cares. Just pick something and stick with it. I thin people just want something to talk about...



This is very important point (sticking with it). DRK is a a coin that is just 2 months old so some tweaking is ok, aside from feature additions which are always ok, but the inflation formula is a key parameter that should be set in stone, forever with no further changes. Even changing the parameter has the potential to shake the confidence in a coin, whether that change is inflationary or deflationary (which benefits most of the existing stakeholders). The rationale is this: If today the formula was changed to this and yesterday it was changed to that, then what is my guarantee as a bagholder / miner / investor etc, that tomorrow the same won't happen towards an unknown direction? Is a coin dev the Bernanke of the X, Z coin? This kind of questioning was introduced with the Doge situation and it wasn't good.

This is very important point (sticking with it). DRK is a a coin that is just 2 months old so some tweaking is ok, aside from feature additions which are always ok, but the inflation formula is a key parameter that should be set in stone,with no further changes. Even changing the parameter has the potential to shake the confidence in a coin, whether that change is inflationary or deflationary (which benefits most of the existing stakeholders). The rationale is this: If today the formula was changed to this and yesterday it was changed to that, then what is my guarantee as a bagholder / miner / investor etc, that tomorrow the same won't happen towards an unknown direction? Is a coin dev the Bernanke of the X, Z coin? This kind of questioning was introduced with the Doge situation and it wasn't good.

eltito



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Full MemberActivity: 322Merit: 105 Re: [ANN][DRK] DarkCoin | First Anonymous Coin | No Premine | DGW | ASIC Resistant March 21, 2014, 07:44:22 PM #9944 Quote from: AlexGR on March 21, 2014, 07:05:52 PM Quote If the coin caps start decreasing it will be a strong deflationary pressure that will encourage people to only hold coins rather than to use them in transactions



There is no need to guess what can happen with a hoarded coin regarding liquidity and trade: We already know how it works from seeing a $600 BTC with hoarding percentages of >50%. The only thing that changes is the amount of BTC that merchants ask for their goods. Five years ago they would ask 10.000 BTC for a pizza, now they are ok for 0.02 BTC and in two years they might be ok for a few satoshis Thus the problem of liquidity is solved.



The only reason more coins are needed is to provide a fairer distribution in the mid term.

There is no need to guess what can happen with a hoarded coin regarding liquidity and trade: We already know how it works from seeing a $600 BTC with hoarding percentages of >50%. The only thing that changes is the amount of BTC that merchants ask for their goods. Five years ago they would ask 10.000 BTC for a pizza, now they are ok for 0.02 BTC and in two years they might be ok for a few satoshisThus the problem of liquidity is solved.The only reason more coins are needed is to provide a fairer distribution in the mid term.

Exactly my thinking. There is no liquidity issue and there never will be. Same goes for initial buy in, for the same reason. Prices of real goods will simply adjust to reflect the relative value of the coin, and investors have something more attractive. I'm not sure I see the downside, aside from general concerns about dicking around with the inflation formula. Exactly my thinking. There is no liquidity issue and there never will be. Same goes for initial buy in, for the same reason. Prices of real goods will simply adjust to reflect the relative value of the coin, and investors have something more attractive. I'm not sure I see the downside, aside from general concerns about dicking around with the inflation formula.

coins101



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LegendaryActivity: 1456Merit: 1000 Re: [ANN][DRK] DarkCoin | First Anonymous Coin | No Premine | DGW | ASIC Resistant March 21, 2014, 08:24:19 PM #9948 Quote from: eduffield on March 21, 2014, 04:04:49 PM Hello everyone and happy Friday!



Anyone who's been around long enough knows nothing in Darkcoin is ever set in stone and we listen to the community. Last time we removed the block halving we received a lot of crap, here's the problems with yearly halving.



- It's too fast and could destroy the coin

- It's way too much (50% per year)

- We already have formula for controlling the supply



Problems with not having a fixed supply:



- We'll have a constant amount of inflation forever. Most of us are in the austrian camp of economics, so I'd like to fix this.



In true Darkcoin fashion, I'd like to propose a solution that no other crypto has and fixes all of the issues. A yearly reduction of supply of 20%. With this we'll hit the cap of coins near 2056. I'm guessing we'll have somewhere near 25M coins (12M minimum, 49M maximum. Depends on how many miners we attract).







Let's have a vote!



https://bitcointalk.org/index.php?topic=525093.0

Anyone who's been around long enough knows nothing in Darkcoin is ever set in stone and we listen to the community. Last time we removed the block halving we received a lot of crap, here's the problems with yearly halving.- It's too fast and could destroy the coin- It's way too much (50% per year)- We already have formula for controlling the supplyProblems with not having a fixed supply:- We'll have a constant amount of inflation forever. Most of us are in the austrian camp of economics, so I'd like to fix this.In true Darkcoin fashion, I'd like to propose a solution that no other crypto has and fixes all of the issues. A yearly reduction of supply of 20%. With this we'll hit the cap of coins near 2056. I'm guessing we'll have somewhere near 25M coins (12M minimum, 49M maximum. Depends on how many miners we attract).Let's have a vote!

I've had a look around some other scrypt boards.



By the end of the year, ASICs will push out GPU miners all over the place. Expect a lot of miners on Darkcoin because it has value, utility, less power draw, anti-ASIC bias, active community and innovation.



If $100m is transacted through DarkSend each day, at 0.5%, 30,000 miners can earn a lot in regular fees. I've had a look around some other scrypt boards.By the end of the year, ASICs will push out GPU miners all over the place. Expect a lot of miners on Darkcoin because it has value, utility, less power draw, anti-ASIC bias, active community and innovation.If $100m is transacted through DarkSend each day, at 0.5%, 30,000 miners can earn a lot in regular fees.

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Full MemberActivity: 238Merit: 100 Re: [ANN][DRK] DarkCoin | First Anonymous Coin | No Premine | DGW | ASIC Resistant March 21, 2014, 09:18:39 PM #9949 I want to start mining this instead of Vert. I'm sold on the lower electricity and anti asic properties and the more I research it the better it looks as an investment standpoint(lower difficulty good time to get in).



Looking that this, how do i find strait forward directions on how to optimize this for GPU"S. I'm new to X11 and will just jump in and try and figure it out, but if anymore can help speed up that process with links or specific info, please do for me, and anyone after me. I have a 6 rig 7950 msi twin frozr that i will use full time on this coin.