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”

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.
May 14
Nickolai Leschov

Oh, so BitCoin is traceable?
May 14
Louie Helm

You can buy it at Cryptsy
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?
May 14
Louie Helm

Yes bitcoin is very traceable. Bitcoins entire transaction history is publicly stored in a completely permanent + transparent way.
May 14
Louie Helm

Describing bitcoins as anonymous is like describing phone number as anonymous.
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.
May 14
Nickolai Leschov

So, did you alredy buy it?
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.
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.)
May 14
Louie Helm

I’m investing ~1% of my net worth.
May 14
Nickolai Leschov

Loie: to DarkCoin alone? Do you invest more than that in some other cryptocurrency?
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.
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.
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?
May 14
Miles Thomas

Oh didn’t see you’d invested.
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?
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.
May 14
Misha Gurevich

I’m away from computer access from a while, is there a decent way to buy coins via my phone?
May 14
Nickolai Leschov

I failed to install darkcoind on Ubuntu. I guess I’ll ask on the forums.
May 14
Louie Helm

Misha: https://moolah.io/
May 14
Misha Gurevich

That site doesn’t load properly on my phone which leads me to doubt it’s efficacy.
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.
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?
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.
May 14
Louie Helm

Peaked in April? They must be mistaken. They were barely off the test net then.
May 14
Nickolai Leschov

He means this:
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.
May 14
Russell Hanson

Darkcoin is up 64% TODAY, going down tomorrow Profit / Loss 24h: +64.32 %
May 14
Louie Helm

Yeah, pretty sick run Darkcoin has gone on today.
May 14
Jacy Anthis

I can’t figure out how to buy Darkcoin on Cryptsy or Moolah.. -.- They just give me addresses.
May 15
Judy Utah

so… how does the ‘common man’ (woman) use Darkcoin?
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)
May 15
Russell Hanson

https://coinbase.com/ backed by andreessen horowitz
May 15
Richard Craib

Louie, how much of yesterday’s move do you think you caused?
May 15
Louie Helm

I doubt I caused most of today’s move.
May 15
Louie Helm

That said, my weekly RR email on Monday will probably cause some interest.
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
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.
May 15
Douglas Scheinberg

I still prefer the Magic Online Event Ticket as digital currency. 😛
May 15
Douglas Scheinberg

And how long before there’s some kind of money laundering / tax evasion scandal followed by a government crackdown?
May 15
Richard Craib

~=2% of your net worth now? Or are you selling to maintain 1%?
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!
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.
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.
May 15
Jacy Anthis

I still don’t know how to just simply buy some DarkCoin with USD -.-
May 15
Misha Gurevich

Damn it
May 15
Misha Gurevich

Louie , can I paypal you to buy some dark coins for me?
May 15
Florent Berthet

Can we buy some from Europe ?
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.
May 15
Roberto Costantini

I’m trying to understand how to buy from Italy. Not easy.
May 15
Jayson Virissimo

What happens to the price of Darkcoin conditional on Bitcoin incorporating its anonymizing features?
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.
May 16
Matthew Piziak

Darkcoin volume is spiking right now on Cryptsy, surpassing Dogecoin by a factor of eight.
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.
May 16
Louie Helm

From what I’ve heard, that early mining is being used to fuel masternode operation.
May 16
Matthew Piziak

Gotcha. I was worried it was purely to manufacture market volume.
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?
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
June 6
Szymon Baranowski

So you were right after all 😉