Its amazing the drivel the trolls can come up with - just so they can hope for a drop in price so they can buy...lol

Welcome to bitcointalk winteriscoming5.

I'm a dev and I want you to know:


Was darkcoin instamined?

~2mn coins were issued in the first 48 hours due to problems with the difficulty readjustment. That represents approximately 10-15% of the total money supply that will ever be issued.

The majority of these coins were distributed through the market in the following weeks and months at very low price levels* (0.0000x BTC per DRK to 0.000x BTC per DRK) and a lot of them were also absorbed in the April/May 2014 price increase.

Examples of prices and selling action almost two weeks after launch:
https://bt.irlbtc.com/view/421615.msg4861558#msg4861558
https://bt.irlbtc.com/view/421615.msg4889177#msg4889177

Forum member coins101 did a blockchain analysis of Darkcoins distribution as of September 2014:
https://bt.irlbtc.com/view/778616.0


Will the initial distribution affect Darkcoin in the future?

It can bring criticism but other than that, no, as Darkcoin has solid fundamentals which are the basis for its continuous ascent despite FUD and accusations.

The creator of the coin proposed to fix the initial distribution issue by airdroping new coins in order to address criticism and resolve the issue once and for all. The community disagreed and voted down this proposal with most arguing that the distribution is relatively OK by now (April 2014) and that the airdrop would create more problems than it would solve.

Even if there were doubts for the distribution, the late April-May “pump” solved the distribution problem for good, through massive buys that “chewed” enormous waves of “dumping” from prior holders of cheaply acquired coins.

The quick monetary expansion at the start, and the slower rate of expansion later on, actually had a very positive, yet unintended side-effect: It allowed Darkcoin to achieve a very low inflation rate. If every coin was mined at a consistent rate, the rate of issuing new coins would debase the value of existing coins significantly more. Compared to other PoW coins that started around the same period, Darkcoin has the lowest inflation. This allowed it to maintain and increase value when other coins were crashing under the weight of their insatiable demand for new BTCs (that were needed to buy their daily production).

The problem of high inflation in new coins, which tends to suppress their price as supply rises, has now created a new trend where some of the newer coins which are designed, either use a short mining period and Proof of Stake or continue with PoW but with a diminishing mining reward after a few days/weeks/month to reduce the problem of inflation.

http://wiki.darkcoin.eu/wiki/FAQ#Was_Darkcoin_Instamined.3F

Someone just needs to bite the bullet and start a darkcoin silkroad...

A market that's just a market and doesn't also try to be a central bank, that allowed buyers and sellers to transact directly in their currency of choice with arbiter/escrow providers as required would be great... I've never understood what was so hard about that?

Oh yeah, it would mean that the site owners couldn't make off with everyone's loot whenever the whimsy struck them.

Ok,  first...big LOL...dev's don't want you to know...sigh
I have no problems when someone can make a buck more than me. I am not envious because someone have more than me.
I accept that. I take the risk

I am really confused about this insta-mined yelling, people keep just keep pointing out that the difficulty re-targeting failed. We know it happened no-one is denying it happened, but it wasn't deliberate.

https://darkcointalk.org/threads/the-birth-of-darkcoin.162/

It's strange that people are so fixated on one point in time, it's like saying my scrambled eggs aren't delicious before I even put the damn eggs into the frying pan. Because even if we assume for arguments sake that this was deliberate and instamined, the interesting part is what happened after that. Namely that development continued at a rapid pace and has done so for a protracted period of time.

I mean already at launch it invented the X11 algorithm, which researchers are now saying will replace SHA-256. Then the development of anonymous darksend transactions, then creating the masternodes network, then instant transactions and now masternode blinding.

These are all massive technical innovations and so it seems strange to suggest that all these developments are worthless because there were X amount of coins in the first few blocks. It would be like saying Facebook isn't successful because Zukerburg and a few others own most of it.

Now there is a whole development team and who knows what they will implement next. So why focus on how many coins there were at launch, instead of what it is now? As I see it the eggs are only starting to cook.

OpenBazaar buddy... but dev is kind of slow unfortunately. I really hope it picks up. beta 4 should roll out soon. It if gets there and works on v.1, its going to be absolutely awesome and kill ebay in weeks.

 At least, my hopes and dreams!! Open source decentralised p2p crypto market. BOOM. brave new world.

The reason most likely is that people are jelly. And they are mad they didn't mine at the launch. And they are mad they didn't buy 10k coins for 0.25 BTC in the beginning. And they are mad they lost their money buying some other coin.

I've seen constant whine about instamine, but haven't seen a concrete actual problem it should cause now or in the future.

I've seen so many coins that didn't have a premine come and go because developers simply ran out of funding to continue onward. This is one the cases where (an accidental) premine may have either given the dev or created some whales that are continuously funding the development of this coin causing their stash to continuously increase. Good software engineers in the US are worth over $100k/year. This type of work isn't cheap labor.

At this point I'm just looking forward to decentralized 2FA.