An Investor's Investigation Into The Mining Statistics Of Bitcoin Alternatives

GreyGhost

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Jun 4, 2014
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Santa Monica, CA
http://www.devtome.com/doku.php?id=..._and_fastmines_for_the_top_alt_coins#darkcoin and check out DarkCoin bit.
Curios about it: "
The following data and time stamps were collected from the Darkcoin blockchain 31).

  • Block 1: 2014-01-19 Time: 3:54:41
  • Block 1000 : 2014-01-19 Time: 4:33:39
  • Block 2000: 2014-01-19 Time: 06:25:47
  • Block 3000: 2014-01-19 Time: 09:10:16
  • Block 3250: 2014-01-19 Time: 11:22:11
Looking at this data, we see that Darkcoin was mined with 500 DRK generated per block from the get go. From block 1 to at least block 3250, according to their blockchain, they were still producing 500 coins each block. The transition from 500 to 277 coins per block occurs between 3250 and 3500 but this author did not see the necessity of getting the exact moment of halving. Simple math shows that 3250 blocks multiplied by 500 coins a block is 1,625,000 Darkcoins created between the times of 3:54 and 11:22 on January 19th, 2014. As of today there are around 4,300,000 DRK in existence, making this a pretty hefty instamine. The Darkcoin website expects around 22,000,000 DRK to be created. That means in less than 8 hours, almost 5% of the Darkcoins that ever will be created spawned in that 1/3 of a day. It's safe to say Darkcoin has left it's investors in the dark on this one."
 

GreyGhost

Well-known Member
Foundation Member
Jun 4, 2014
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Santa Monica, CA
Thanks. I read that. Alas, I'm still not getting the sense of answer I am looking for. I'm invested in DarkCoin primarily because I trust Evan and Ape and some wiki doubt will not shake me; I just want to understand more...
 

DcoinZ

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Apr 27, 2014
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I read through that article and got the impression of extreme bias favoring Devcoin. After all that mudslinging, the author makes a very weak argument in favor of Devcoin.
Ethical Coins: A Double Edged Sword?
"Devcoin

Devcoin has a strange model which will turn off most people interested in making a quick buck by mining. It should turn on, however, those who want to support a currency that values creative content being created (such as this article).

Devcoin, created in 2011 and one of the earliest alt coins, was invented by a group of Bitcoin developers who wanted to take the currency revolution a step further. Bitcoin can revolutionize payment systems. Devcoin intends to revolutionize how we value creation. Using the same SHA-256 algorithm, their model gives only 10% of mined coins to miners and the other 90% to the Devcoin foundation to split amongst web developers, writers, and other creative content producers. It is merge mined with Bitcoin so there is some of the highest security of the network in the alt coin world because of this. "

The underlined statement sounds like its a bad thing to me. It's another get rich quick for only the Devs! lmao 90% of mined to a few people and 10% to miners. What do the Devs do with the money? Write creative content like this article? Gimmy a break.