Post
Topic
Board Announcements (Altcoins)
Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | ASIC Resistant
by
z92747392
on 23/05/2014, 13:25:11 UTC
Some issues I see with DRK.  tl;dr at bottom

Assuming the coin anonymity feature stands the test of time, most people are still showing their hand in other ways.  Just by posting on this forum for instance.  Eventually someone will be brought up on charges by the IRS of tax evasion because the government has a backdoor to everything.

If people are giving information around, how is this a problem for DRK in particular? If you want to remain anonymous when doing something, then you have to take all-around measures, not just use an anonymous currency. That's a mindset.

Quote
Then there is the issue of mining.  Everyone knows the mining kernel is not optimized and some people have private miners that do 50% to 300% better than stock.  This is MUCH worse than the "random" rewards problem with DOGE that were not random at all.  People would refuse to mine random rewards coins yet this is many times the magnitude of that problem.  Here is a miner that does 40% better than stock:

https://bitcointalk.org/index.php?topic=616786.0

Yeah he is in violation of the GPL but he has 30 days to comply in which time he will rack up quite the stash since he is skimming 2% of the hash.  And this is the public version.  Private versions go much further.

There are no private miners 300% over stock, unless you are referring to the experimental nvidia miner - but nvidia is already scaling very well with 750ti / 780ti cards which already multiplies the hashpower of AMD.

Besides even if there are, say, 10-20-30 guys with uber-evolved miners, their GPU count is too low in the sum of nethash.

I'd be more concerned with ASICs raping Scrypt. That's unfairness (in the sense that the companies already are mining with huge ASIC farms) while most individuals are doing GPU-only.

Also, if you read the thread, people are reporting higher reject rates and no changes in hashrates on the actual pool.  The miner is just reporting higher hashrates, but nothing is showing up on the pool side.  No increase in temps, no increase in power consumption, and no increase in hashrate on the pool?  And there's a 2% fee?  Yeah, no.