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Darkcoin Rising

Darkcoin is the first untraceable digital cryptocurrency. It mediates anonymous transactions using cryptographic pools, and with a market cap of over $10MM, it’s fast on its way to becoming one of the top online cryptocurrencies.

Check out Darkcoin if you’re looking for investment opportunities like these before they go mainstream. Reporters don’t know about Darkcoin yet. But in a few months, it’s gonna be huge.

Author Description

Louie Helm is a Machine Learning Engineer

61 Responses to “Darkcoin Rising”

  1. May 14

    Austin James Parish

    How can I most easily buy some DarkCoin? I don’t have experience with Moolah and it doesn’t seem to work the way CoinBase does.

  2. May 14

    Nickolai Leschov

    Oh, so BitCoin is traceable?

  3. May 14

    Louie Helm

    You can buy it at Cryptsy

  4. May 14

    Nickolai Leschov

    Also, how can I be sure that DarkCoin will get big, instead of being overshadowed in mainstream consciousness by (heaps of) even newer ‘coins with some interesting feature other?

  5. May 14

    Louie Helm

    Yes bitcoin is very traceable. Bitcoins entire transaction history is publicly stored in a completely permanent + transparent way.

  6. May 14

    Louie Helm

    Describing bitcoins as anonymous is like describing phone number as anonymous.

  7. May 14

    Louie Helm

    And I know Darkcoin will be big for a number of reasons. It has developer support, it solves an actual problem people have, it has a real feature instead of being a clonecoin, it has a growing community, and I live in the Bay Area where all these things gain critical mass (or not). So it’s much easier for me to know these things ahead of time versus the average onlooker.

  8. May 14

    Nickolai Leschov

    So, did you alredy buy it?

  9. May 14

    Christopher Rasch

    Nickolai, we’re in the midst of a Cambrian explosion of new virtual currencies, so it’s quite possible that DarkCoin will overshadowed by some future technology. However, the DarkCoin folk seem to be doing a lot of things right, so I agree with Louie that it has a higher potential for success than most of its competitors.

  10. May 14

    Qiaochu Yuan

    Louie, how much are you personally investing in DarkCoin? (Seems like an easy way to make something like a prediction market for this prediction.)

  11. May 14

    Louie Helm

    I’m investing ~1% of my net worth.

  12. May 14

    Nickolai Leschov

    Loie: to DarkCoin alone? Do you invest more than that in some other cryptocurrency?

  13. May 14

    Louie Helm

    I’m just putting my money where my mouth is a bit. Putting 1% in something like Darkcoin is enough to prove I have a stake in it, but still qualifies as not-even-reckless in my circles.

  14. May 14

    Daniel Smith

    I am thinking that anything worth implementing will be implemented in a side chain (when this gets added to bitcoin) and thus offer the feature with “real” bitcoins, and that this will pretty much spell the end of altcoins. As someone said: “There’s a natural monopoly for engineered scarcity.”

    That said, maybe I should go add some darkcoin to my alt-coin portfolio, just in case.

  15. May 14

    Miles Thomas

    Considering this. Have you bought any? If not, why not? Also, people seem to complain that Bitcoins are hard/inconvenient to ‘cash out’ into e.g. GBP, to the extent that they’re sitting on thousands of GBP of Bitcoins but not selling them due to the inconvenience/difficulty. (One person I’m thinking of mined some in the early days, the other had been trading Bitcoins full-time so one would think they knew what they were talking about). Were they incompetent or is it as difficult as they make it seem to cash out cryptocurrency? Or were they being overcautious with respect to being chased up for tax? Or are Darkcoins different?

  16. May 14

    Miles Thomas

    Oh didn’t see you’d invested.

  17. May 14

    Nickolai Leschov

    1. What does this mean? Darkcoin hardfork on May 14th. Please update your client. https://darkcointalk.org/threads/rc2-hard-fork-on-may-14th.357/
    2. ok, DRK are traded for BTC on Cryptsy. Where should one buy BTC?

  18. May 14

    Svilen 'Steve' Todorov

    It is definitely not that hard to cash out in the UK nowadays, Miles (although it is still not as easy as in the US). Localbitcoins or Bistamp would be my choice for doing so.

    At any rate, I suspect that the people you are referring to are mainly keeping their bitcoins, because they expect/hope that the price will increase in the long run. I know I do.

  19. May 14

    Misha Gurevich

    I’m away from computer access from a while, is there a decent way to buy coins via my phone?

  20. May 14

    Nickolai Leschov

    I failed to install darkcoind on Ubuntu. I guess I’ll ask on the forums.

  21. May 14

    Louie Helm

    Misha: https://moolah.io/

  22. May 14

    Misha Gurevich

    That site doesn’t load properly on my phone which leads me to doubt it’s efficacy.

  23. May 14

    Louie Helm

    I haven’t used Moolah personally. But in it’s defense, it’s designed to allow you to buy and sell coins via SMS, not via a phone browser.

  24. May 14

    Nickolai Leschov

    How is Moolah supposed to work? I have registered and see now way to buy via the browser. Is it supposed to be mobile-only?

  25. May 14

    Nickolai Leschov

    What do you mean ‘launched’, by the way? I told my friend and they say they have launched long ago and peaked in April.

  26. May 14

    Louie Helm

    Peaked in April? They must be mistaken. They were barely off the test net then.

  27. May 14

    Nickolai Leschov

    He means this:

  28. May 14

    Louie Helm

    Right. There has been a nearly unused implementation around for a few months. I used the word “Launched” because now they are seeing real use recently.

  29. May 14

    Russell Hanson

    Darkcoin is up 64% TODAY, going down tomorrow Profit / Loss 24h: +64.32 %

  30. May 14

    Louie Helm

    Yeah, pretty sick run Darkcoin has gone on today.

  31. May 14

    Jacy Anthis

    I can’t figure out how to buy Darkcoin on Cryptsy or Moolah.. -.- They just give me addresses.

  32. May 15

    Judy Utah

    so… how does the ‘common man’ (woman) use Darkcoin?

  33. May 15

    Russell Hanson

    I made an account at http://www.cryptsy.com, seems like an accountable online market for weirdass crypto currencies (not just BTC)

  34. May 15

    Russell Hanson

    https://coinbase.com/ backed by andreessen horowitz

  35. May 15

    Richard Craib

    Louie, how much of yesterday’s move do you think you caused?

  36. May 15

    Louie Helm

    I doubt I caused most of today’s move.

  37. May 15

    Louie Helm

    That said, my weekly RR email on Monday will probably cause some interest.

  38. May 15

    Simon Woolf

    Anyone else a little disturbed by the v0.10 branch apparently not being open source, unless I’m missing something? AFAICT https://github.com/darkcoinproject/darkcoin is only the 0.9 branch

  39. May 15

    Louie Helm

    Simon: The core dev team is solid and has committed to open sourcing all of Darkcoin in the coming weeks. I was actually drawn to Darkcoin as an investment because I noticed that the market hadn’t priced in the anticipation of the impending open sourcing.

  40. May 15

    Douglas Scheinberg

    I still prefer the Magic Online Event Ticket as digital currency. 😛

  41. May 15

    Douglas Scheinberg

    And how long before there’s some kind of money laundering / tax evasion scandal followed by a government crackdown?

  42. May 15

    Richard Craib

    ~=2% of your net worth now? Or are you selling to maintain 1%?

  43. May 15

    Simon Woolf

    Louie: fair enough. I just found it very jarring having a cryptocurrency offer binaries without corresponding source – every other one I’ve invested in’s developed in the open.

    But even if I heavily jack up my estimate of its risk due to that, still seems worth a (small) inv as v. high return, so I should tell my misgivings to shut up. Might get some & leave it on cryptsy till I can build the client myself (usually wouldn’t, but if it is only a couple weeks, exposure to exchange failure is pretty small). Cheers!

  44. May 15

    Louie Helm

    Yeah, I guess 3% of my net worth is in Darkcoin now. Selling it to maintain 1% seems overly conservative given I bought it in anticipation of expecting I’m pricing future events better than the market than still haven’t occurred. I may need to rebalance my life portfolio more in a few weeks if Darkcoin becomes the majority of my net worth.

  45. May 15

    WilliamEden

    Louie, do you trust Cryptsy enough to use them as your wallet? Or do you have your own local DRK wallet and transfer out the coins immediately?

    I currently have a BTC deposit “pending” at Cryptsy. I find it extremely suspicious that the transaction does not go through immediately. Why do you trust them?

    • May 15

      Louie Helm

      Cryptsy doesn’t seem any better or worse as an exchange than any other. I’m personally keeping my DRK in my own wallet. I know others who hold on Cryptsy.

      I’m quite paranoid IT-wise. If you think your personal IT security is high, maybe keep them on your own local or remote system to avoid the risk of the exchange breaking down.

      Although, you need to be honest with yourself. if you notice that you’re the kind of guy whose computer ends up with spyware on it from time to time every few months cause you go to porn sites that infect it (or whatever), you should probably just admit you’re not in the top % of computer security conscious people and keep your coins on Cryptsy or somewhere similar.

      I know people who have lost coins via hacking and people who have lost them via exchanges. They are both risky.

  46. May 15

    Jacy Anthis

    I still don’t know how to just simply buy some DarkCoin with USD -.-

  47. May 15

    Misha Gurevich

    Damn it

  48. May 15

    Misha Gurevich

    Louie , can I paypal you to buy some dark coins for me?

  49. May 15

    Florent Berthet

    Can we buy some from Europe ?

  50. May 15

    Austin James Parish

    Jacy: buy some bitcoin with USD at Coinbase. Make a Cryptsy account. With Cryptsy, “Deposit” bitcoin to get an address. Go back to Coinbase, go to “Send money,” and send bitcoin to the address from Cryptsy. Then in Cryptsy, trade the bitcoin for DarkCoin.

  51. May 15

    Roberto Costantini

    I’m trying to understand how to buy from Italy. Not easy.

  52. May 15

    Jayson Virissimo

    What happens to the price of Darkcoin conditional on Bitcoin incorporating its anonymizing features?

  53. May 15

    Louie Helm

    Jayson: There’s no reason to think that’s close to happening. As far as I can tell, most of the hype around bitcoin anonymization features remain in the dreams of forum dwellers, and aren’t really being actively worked on by serious programmers. If I saw a story now claiming it was happening, I would assume it was fake more than I would assume it was real, and buy more Darkcoin if the market was stupid enough to incorrectly price in that possibility right now.

  54. May 16

    Matthew Piziak

    Darkcoin volume is spiking right now on Cryptsy, surpassing Dogecoin by a factor of eight.

  55. May 16

    Matthew Piziak

    While not premined, it looks like Darkcoin was instamined, getting 1.8M coins in the first few hours. That’s worrying.

  56. May 16

    Louie Helm

    From what I’ve heard, that early mining is being used to fuel masternode operation.

  57. May 16

    Matthew Piziak

    Gotcha. I was worried it was purely to manufacture market volume.

  58. May 17

    Jeff Tichenor

    I know I’m very naive when it comes to this sort if currency, but if I’m not an evil villain in a movie what use do I have for untraceable currency? Also, I’ve always been confused how supply and demand related value works when the currency can essentially be created for no cost?

  59. May 17

    Jeff Tichenor

    Just to be clear I’m not bashing anything with the above questions I simply don’t have any background in this area

  60. June 6

    Szymon Baranowski

    So you were right after all 😉