20 votes

Darkcoin, the Shadowy Cousin of Bitcoin, Is Booming

Someone out there likes anonymous money.

WIRED:

In only a month, the little-known bitcoin alternative known as Darkcoin has rocketed nearly tenfold in value–from around 75 cents a coin to almost seven dollars. Its selling point: Darkcoin offers far greater anonymity than bitcoin, mixing up users’ transactions so that it’s incredibly difficult to trace a payment to a person. And though few have yet to accept that more-anonymous coin for actual goods and services, the promise of Darkcoin’s privacy features seems to have sparked a miniature boom. It’s one of the fastest growing among the wave of cryptocurrencies that’s followed bitcoin’s success, with the total value of its combined coins topping out at nearly $30 million.

Darkcoin, supporters argue, serves a real privacy need. Despite its reputation for being more anonymous than traditional money, the bitcoin network actually allows anyone to see every transaction on a public accounting ledger known as the blockchain. Users often have to take extra steps, like mixing their coins in a “laundry” service, to prevent those addresses from being tied to their identity by any government or corporation that wants to snoop.

Darkcoin adds an extra layer of privacy by automatically combining any transaction its users make with those of two other users–a feature it calls Darksend...
http://www.wired.com/2014/05/darkcoin-is-booming/

Darkcoin FAQ
http://wiki.darkcoin.eu/wiki/FAQ

Development Update - July 7th Darksend+
https://darkcointalk.org/threads/development-updates-july-7t...

Current Price Averages:
http://www.cryptocoinrank.com/

&

http://coinmarketcap.com/



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To sum up recent events of DRK:

To sum up recent events of DRK:

1) Leak of possible merge between DRK & SDC, discussed by the community, Evan pulled the plugs. (cancelled)

2) Rumor of OKCoin.com adding DRK on their (FIAT) exchange.

3) DRK featured on FOX 26 news (6-nov-2014):
https://www.youtube.com/watch?v=9YQnYpc52ks

4) DRK discussed on Bloomberg TV (6-nov-2014):
http://www.businessweek.com/videos/2014-11-06/can-bitcoin-st...

5) Evan testing first InstantX (INSTANT) transaction successfully in ~2 SECONDS:
Quote from: eduffield on November 06, 2014, 07:16:38 PM
I just got multiple masternodes to form consensus, lock inputs, literally took 2 seconds to lock the transaction in place... then I tried to spend the same inputs for a higher fee. Works!

6) Enforcement enabled, 100% compliant:
Quote from: eduffield on November 07, 2014, 08:31:57 AM
Enforcement is a success! We officially have 100% payment compliance and no forks on the network anywhere.

7) Darkcoin v0.10.15.21, bloom filters (-90% outbound traffic), load reduction of ~70%:
Quote from: eduffield on November 07, 2014, 07:26:27 AM
Darkcoin - v0.10.15.21

If you are running a masternode on a VPS, I highly suggest you update to 15.21. This update reduces outbound traffic by 90%+ (which is what amazon charges for) by implementing bloom filters. Also load has been drastically reduced by about 70%.

https://darkcointalk.org/threads/v10-15-onyx-release.2683/

8) (Evan) I'll be speaking at the Crypto Money Virtual expo, Dec 5-6! It's like crypto meets the sims, should be pretty cool. My talk is going to be entitled "Darkcoin, creating the perfect eCash" and will cover the masternode network, passive mixing and InstantX. It should be a great intro into Darkcoin for future use.

http://cointelegraph.com/news/112824/december-5-6-2014-first...
https://www.cryptocoinsnews.com/attend-crypto-money-virtual-...
http://bitcoinmagazine.com/17862/first-ever-virtual-expo-for...
http://cryptobizmagazine.com/first-ever-virtual-expo-for-the...

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

thanks for the update! I wonder though, why is DRK not going up?

According to the latest price point(below) it seems to be falling pretty bad. Any ideas/thoughts on this?

Darkcoin (DRK) 4,841,452 $ 1.77 $ 8,570,808 -29.23 % $ 0

Also, I see there is another coin called bitcoin dark, is that a competitor of DRK? or is it in its own category(like it has its own special features that are separate of DRK)

Thanks!

more info

yeah right now the price is at around $2.40. when i posted this new info it was under $2.00 but i knew it was going up so i wanted to give everyone a heads up. it went up to $3.00 and has now pulled back again.
they found a security exploit that is being fixed but it will probably take a few weeks to make that happen. it's not a big deal but it caused the pump to slow down followed by a dump. this is pretty normal in crypto and i expect another huge pump in the next few weeks but it could start again at anytime. the all time high was around $15. the initial distribution of darkcoin and pretty much all cryptocoins is heavily skewed in favor of the early miners and will go through pump and dump phases for years to come before you get any real stability.
i treat cryptocurrency as a long term investment like gold and silver. who knew silver would crash from almost $50 to $15 a few years ago, not me. i got lucky and sold a bunch of silver @ around $35 and invested it in btc @ under $30. at the time everyone said i was crazy, i've been living off btc profits ever since.

bitcoin dark is a copycat that promises to do a lot but it's mostly vaporware at this point. i've seen several of those come and go (cloakcoin and xc) so i'm not invested in it.
the only cryptocoins i own now are bitcoin, darkcoin and bitshares.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

Darkcoin - InstantX Demonstration

DARKCOIN'S INSTANTX FEATURE MAKES TRANSACTIONS SPENDABLE IN LESS THAN 30 SECONDS
http://www.cryptoarticles.com/crypto-news/darkcoins-instantx...

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

Will darkwallet make DRK coin obsolete?

?? I hope not. But since DRK coin is basically a way of using a btc product w/o knowledge of who else has used it (ie tracking), then, I wonder what the rollout of dark wallet will do to its (DRK) value?

here's where I saw this idea....

Wilson and Taaki intend Dark Wallet to be the most user-friendly method yet to spend bitcoins under the cover of anonymity’s shadow—without switching to a niche alternative coin or trusting any shady middleman.
http://www.wired.com/2014/07/inside-dark-wallet/

Any thoughts/ideas?

no

dark wallet is good but darkcoin is way better. dw is a trusted centralized coinjoin implementation that has recently been proven to have flaws by Kristov Atlas. dw is still a work in progress and they will continue to improve and be an ongoing project.
darkcoin, through masternodes is trustless and decentralized and its main focus is on anon ecash and will always stay one step ahead of dw and other anon coins thanks to the brilliant developer and the whole darkcoin dev team.

major darkcoin breakthroughs in anon tech were just announced this week and nothing else out there even comes close...

Quote from: eduffield on July 07, 2014, 05:39:02 PM
Development Update - July 7th
https://darkcointalk.org/threads/development-updates-july-7t...

and then just a few days later even more game changing breakthroughs and the final anon solution was announced....

Quote from: shojayxt on July 10, 2014, 01:57:27 PM
"Darkcoin suffers from a bad methodology
[masternodes} to achieve anonymity and it's put everything into this one basket."

Response from dev...
Quote from: eduffield on July 10, 2014, 02:18:18 PM
"Sorry to hear you lost faith in the project. Also, sorry you're going to be getting out at a horrible time (right before I announce I have EVERYTHING figured out to make Darkcoin mainstream).

Over the past couple of days, I've made huge leaps in the Darksend technology. In fact, RC4 will be the final solution to Darkcoin's anonymity. The client will automatically look at all of your funds and it will be able to tell which funds are not anonymized, if it finds non-anonymous outputs it will run them through a darksend {masternodes} with other clients. After that process, users can send without Darksend using the anonymous outputs for instant transactions without waiting for other nodes (with no upper limit on transaction sizes).

The other thing you're missing is that there is a reason I forked Bitcoin. Adoption for Darkcoin will be MUCH faster and easier for vendors, because all of the APIs are the same.

Expect more news in a few days. I have lots of work to do, but soon we can start testing all of this new functionality."

======

also, i just got my first masternode set up which currently only mixes the coins for anon but will soon do much much more and get (me) paid to do so. the sky is the limit for potential masternode services and they can be used (for a fee) to help the tor network and even bitcoin.

http://wiki.darkcoin.eu/wiki/FAQ

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

Has anyone ever bought or sold DRK??

(as it is a bit less popular than btc)

if so... What is the best way? (and who buys them? or sells them?)

ok found this new exchange,

does anyone know about it?
https://bter.com/trade/DRK_usd

HARD FORK ON JUNE 20TH???

https://darkcointalk.org/threads/rc3-hard-fork-on-june-20th....

The Darkcoin network will be forking on the 20th to support masternode
payments. This release fixes client forking issues (from RC2), ghost
masternodes, increases the masternode payment to 20% and improves the
communication protocol for masternode and supports the hot/cold setup
for masternode operators (allowing your money to not be risked at
all.).

Any idea what this means? (ie will drk go up or down temporarily?)

Darkcoin Recovers, Soars to New Highs

The world’s third most popular cryptocurrency [by market capitalization], Darkcoin is reaching all-time highs today after recovering from a crash last week. Darkcoin differs from other cryptocurrencies by offering a greater level of anonymity. By utilizing a feature referred to as, “Masternodes,” transactions are bundled together before making their way to the public blockchain, making it nearly impossible to identify addresses and individuals by historical transaction activity.

Anonymity has always been a major draw of cryptocurrencies, but the use of a public ledger makes it possible to follow transaction histories and potentially determine ownership of an address. By solving that problem Darkcoin has experienced explosive growth, but the priced crash nearly 50% last week. So what caused the crash and how has Darkcoin recovered so quickly?

Masternode Emergency Fork
http://bitcoinbulls.com/darkcoin-recovers-soars/

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

wow.. down -32.47 %

is that a normal swing? (was not following BTC in its early days, so not sure)

its at about at $6.30 now...

Somewhat normal

same thing happened with bitcoin in the early days and still continues to a certain extent. this was more of an orchestrated dump by a group of well organised wealthy cryto traders (think wolf of wall street type scum) that do this for a living. it happens to all altcoin because of their relatively small market cap. they hit us pretty hard and the only option was to buy the dips/crash which is what i did. i missed the bottom but got in at .016- .013. not bad, i'm happy and almost have a masternode thanks to the dump!

any other altcoin would have been dead after a targeted hit like this because of their lack of fundamentals.
drk is different though and it's rumoured to be add to Bitfinex which is the number 2 or 3 top btc exchange. this is huge!

price has recovered to over $10 now.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

thanks for that info.

there was/is a website that sells bitcoin locally (just type in a city) , do you recall the name? (and I wonder do they sell DRK?)

btc

https://localbitcoins.com

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

THANKS!

now they need something like localdrkcoins !

Something that appreciates

Something that appreciates that hard, must depreciate to such an extent to compensate. Though it must be noted that a large amount of people invest in these alt currencies while having no faith (or very little) in them. They can predict that something must appreciate based on some utility the coin provides, but what they can't predict is if that utility can compete longterm with bitcoin. So instead of taking a risk, they cash out, because they also know that other people think similarly to them. They then decide if they want to invest again if the price movement shows some signs of stability or growth after a period of time or they move on to the next coin.

Dark coin just went down on

Dark coin just went down on mintpal and cryptsy due to a forking issue. Hope you didn't just buy right in.

it's all good

they are back up trading again and i'm buying!

there was a planned hardfork yesterday to implement payments for the masternodes. a bunch got paid but then there was an attack and they had to go back to non payment until it's fixed. the priced crashed hard due to panic selling but has already recovered nicely. unfortunately i was asleep and missed the big correction but got in after the markets reopened.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

So how would I download the wallet

on Ubuntu? They have a couple of downloads for Ubuntu, but no instructions on how to get it installed.

i don't know

you could check the forums but i would just wait till tomorrow till they get all the kinks worked out with the hard fork. they say everything is working now but just make sure you are on the right version and if mining make sure the pool is. a lot of pools were mining the wrong fork earlier and some probably still are.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

Got the answer

Here:

https://darkcointalk.org/threads/wallet-setup-on-ubuntu.916/

Thanks for this thread, by the way. This is one of the few alt coins that I would be interested and puting some money into early on, and I probably would have missed it otherwise.

great find, i need to use that setup

i wish i could have brought drk to y'all earlier when i first got in a over a month or so ago. unfortunately at the time i had not yet done the proper research needed to be able to defend drk against the dp crypto trolls who i knew would attack as soon as i posted info.
and sure enough....
Beyond Bitcoin: A Guide to the Most Promising Cryptocurrencies
http://www.dailypaul.com/306558/beyond-bitcoin-a-guide-to-th...

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

thanks !!

makes it easier to track!

I have some slavecoins

If anyone wants to buy any...suckers

Can you add a link in thread to see what DRK coins are worth?

I know it changes daily etc..

sure

done

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

ok so now if you have wallet

Xrh7SGvjGsXzZR9t3uUpFC4SeHdeqQdvdf is this the DRK # address?

(I am assuming its in the receive section in the wallet)

If not where is your DRK # address?

(if someone can send me like $.01 or so, (whatever that translates to in DRK value)so I can check that its working, that would be great!

DRK

Just hit it's 48hr low. Buy buy buy !

Anyone else ride the bull?

I made a killing this past week on arbitrage btc/ltc/doge/drk. Wow, personally I will never work for dollars again. Why would I want money that just devalues. I can make more from just the amount I have now in deflation/trading than most people will make working. And I get paid for it.

Cryptsy/btc-e is where I go. Send me a message if you have any questions about currency swaps or full on tax evasion. These coins have made it almost childs play.

I have convinced my fathers business to accept bitcoin. His profit margins almost double without taxes. lol So it only took one purchase to get him on board.

Until TotallyDarkCoin comes out next month.

Just like Darkcoin, only very slightly faster and marginally more anonymous.

Then HonestlyPitchBlackCoin.

Then NotOnePhotonCoin.

Then NegativeLightCoin.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417