Re: [ANN][DRK] Darkcoin | First Anonymous Coin | Inventor of X11, DGW and Darksend | Instant TX
Darkcoins come into existence thru mining. And only thru mining.
Evan Duffield and team, and the whole Masternode concept had nothing to do with it? Just miners?
The miners share a few of their new found coins with the masternodes.
Mining is not only about maintaining the blockchain.
Even if there are no transactions for days, it doesn't matter. If there are NO transactions for days, then THAT'S the state of blockchain that has to be integrated and shared for everybody to accept.
A single old Celeron can do all that.Mining is not only about maintaining the blockchain.
Even if there are no transactions for days, it doesn't matter. If there are NO transactions for days, then THAT'S the state of blockchain that has to be integrated and shared for everybody to accept.
The amount of transactions (low or high or whatever) has nothing to do with the validity of mining. It just is what is. 
What does that even mean?
We have Petahashes of POW miners mining for Bitcoin because more and more people want to go after fewer and fewer coins, while technology combined with free market competition creates innovation. (faster and faster machines, which in turn make the coins even more scarcer and scarcer... which is key for value creation in the first place.)
Fulfilling a market need is the key to value, not throwing money at GPU manufacturers.
If we only had masternodes... we would basically take darkcoin out of the most insane innovation cycle we have seen in the last decades.
(If only servers had the innovation that miners have, lol
, but how are they going to have innovation without competition? Just masternode holders sitting on their piles of coins is not something that is very "competitive")
So, the key concepts to not forget are: competition creates innovation which in turn creates scarcity (value). Ergo mining.
(If only servers had the innovation that miners have, lol
, but how are they going to have innovation without competition? Just masternode holders sitting on their piles of coins is not something that is very "competitive")So, the key concepts to not forget are: competition creates innovation which in turn creates scarcity (value). Ergo mining.
I'm not actually proposing doing away with miners, but please explain to me what great innovations have come about through chasing pointless hashpower? The Darkcoin developers provide innovation, a bunch of people running up electricity bills in the hope of a quick buck do not.