Re: [ANN][DASH] Dash | First Anonymous Coin | Inventor of X11, DGW, Darksend and InstantX
Current Dash supply: 5.2 million (max. ~22 million)
Current Monero supply: 6.9 million (max. ~18.4 million)
Monero was launched 3 months after Dash and yet it has a higher supply despite having a considerably lower maximum cap.
Current Monero supply: 6.9 million (max. ~18.4 million)
Monero was launched 3 months after Dash and yet it has a higher supply despite having a considerably lower maximum cap.
yeah...higher coin supply = scam
From the horse's mouth
Almost funny. But only almost because an actual list would expose how the devs mined millions of coins with an enhanced version of a miner while they gave crippled miners to naive idiots dumb enough to invest into this shitcoin.
Millions of coins mined by the devs? Nice troll.
The crippled/obfuscated miner, which we had nothing to do with, starting getting fixed by us in github 19 days after launch, was essentially fully uncrippled within a month, and highly optimized within two months. During that entire period of time a total of around 1.5 million coins were mined with a large number verifiably mined by people outside of the developer team (because one group includes a credentialed professor of computer science known by his real name who blogged about it, and in other cases because they publicly sold them OTC).
So, no, millions of coins were not mined by the devs. The total number mined by devs at all, regardless of what miner they used, was clearly far less than 1.5 million, and objectively probably far less than 500k.
I mined a fair amount using the public code which was quite profitable at the time, and you don't have to take my word for it, there were many, many posts from many different people about how profitable the mining was.
It sure was fun countertrolling a little, using their own tactics and provoking a response
But the content is even more interesting: So you fixed the crippled miner made by someone else? You even made it "better"?! Why? What about your own miner?
You're obviously pretty uninformed about Monero, which is not meant as an insult by any means. After all it is just one of many coins and perhaps one that doesn't interest you, fair enough.
FYI, Monero was forked from Bytecoin, after it was discovered that Bytecoin had a fraudulent 82% premine. The exiting code came from Bytecoin. It was only after we dug into it that we discovered (as did others) that it had been deliberately obfuscated and deoptimized by the Bytecoin developers. If you're really interested in all this, there are various posts and threads and whatnot where you can learn more, but that is well covered elsewhere so no need to go into all the details here.
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If mining was profitable enough with it, why spend more of your unpaid time (as you keep using as an excuse for non-progress!) to fix and even improve the crap someone else created? Makes no sense.
Because, as I said, once we dug into the code from Bytecoin, we realized that it was obfuscated and deoptimized (such as repeating a very expensive initialization step inside an inner loop). We also started to learn that others were running optimized miners, from statements being made on IRC, forum posts, and just observing the hash rate, so we worked on optimizing it to try to keep the playing field as level as possible and not cause most of the miners to just give up. It was only because of the ongoing efforts to optimize the public miner that it maintained some semblance of competitiveness and remained profitable. For the same reason we organized a bounty for an open source GPU miner, which was released around the same time.
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Also: Explain the higher coin supply. You keep throwing shit at DASH for a bug and yet there's more Monero out there than DASH despite being 3 months younger and having a lower cap.
One reason would be that Monero has never reduced its rate of supply, because we stuck with the social contract even when the supply was a bit high for the market (causing dumping), and big investors wanted it cut. Darkcoin/dash did make cuts, as I understand it. Monero may have been originally designed with a somewhat faster supply curve, I don't know the details, but in any case that is somewhat irrelevant given that the darkcoin/dash supply curve has been changed multiple times.
There are better threads for this discussion though, such as this one so feel free to join over there if you are actually interested. Other than correcting incorrect information, I never post about Monero here.
Here's what an independent review says about the Monero supply curve (click through to see an analysis of the entire blockchain showing everything is as it should be:
On one hand, a 4 year plan to produce 85% of the currency is waaaay better than 90% of the coins on this investigation. In comparison to bitcoin, we see that from its inception from January of 2009 to today, May of 2014 (roughly 5.5 years), bitcoin has produced around 60% of its expected coin totals 163). In that sense, Monero isn't too much of a divergence.
There are no instantmines or premines in Monero. The smooth block subsidy scheme could be a little bit more tapered towards a slower distribution than it is, but ultimately this coin passes the smell test.
There are no instantmines or premines in Monero. The smooth block subsidy scheme could be a little bit more tapered towards a slower distribution than it is, but ultimately this coin passes the smell test.