Masternodes, InstantX transactions and why Darkcoin could be a Blockchain Game Changer

[ExoticMatter]

Hi Everyone,

No doubt most of you have heard of bitcoin, and a few may have heard of some of the alt coins such as Litecoin,Namecoin and Quarkcoin, although only 1 or 2 would have heard of Darkcoin.

Now anyone who has used bitcoin or pretty much any other cryptocurrency will have noticed how slow they are, bitcoin typically takes 10 minutes for 1 confirmation(although it is random) and transfering bitcoin into any exchange or doing business is tediously slow as most require 3-6 confirmations which takes over an hour typically.

https://blockchain.info/charts

The Darkcoin developers have created an incentive to create a global decentrailized network, using a buy in stake of 1000 Darkcoin in order to host your own Masternode, hosting a masternode currently gives 25% of all global mining revenue. The masternodes(currently there are about 1200 and climbing) will be used to authenticate transactions in 2 to 10 seconds (testnet simulations currently underway, processing time depends on number of masternodes/location/ping etc-not finished yet!).

There are only 4.4 millions coins in existance so far btw.

https://bitcointalk.org/index.php?topic=421615.0

All sha256 coins such as bitcoin/peercoin and all scrypt coins such as Dogecoin and litecoin(there are 100's) are now completely taking over by extremely quick dedicated ASIC mining machines(check zeus miner on ebay for example), due to Darkcoin's 11 hashing algorithms called X11, it is extremely ASIC resistant, meaning basically you can go and get a $200 graphics card from the shop and still 'mine' and produce the coin at home.It can also be mined on a CPU, the more cores the better.

If you don't know what I am talking about, I (tactfully) suggest you read and re-read Duffield's first post on bitcointalk(particularly the instantTX PDF), and download the bitcoin and darkcoin wallets, and update them over night, and then ask me a question about this.

Sawad dee Krup.

Disclaimer: I am not the developer btw, the reason for posting this is for those who missed the bitcoin train may have a second chance. But be warned do NOT use any money you can not afford to lose if you want to play this crazy and dangerous virtual world of cryptocurrencies and their markets(extreme gains can also mean extreme losses), there are many instantances of hacked wallets, I present you with this information for your elucidation and we are all adults so please don't shout at me if things don't go as planned and you get scammed or play the markets wrong. TIA

[rickirs]

Note the disclaimer does not reveal to what extent, if any, the interest the writer may have in making essentially a promotion for Darkcoin. In some Western countries this "message" would constitute a promotion of unregistered securities, aka a crime.

[ExoticMatter]

All the cryptocurrencies which now number over 1000 are not illegal in any country as far as I'm aware. There is a bitcoin exchange in Thailand, they trade in baht/btc. I am not aware of local Thai laws banning any of them, in fact most countries like China are embracing them, there are over 200,000 businesses around the world that accept bitcoin. Bittylicious is an example of around 10 cryptocurrencies that are accepted for fiat money and paypal will be accepting it soon.