Darkcoin – How It Can Be Manipulated?

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Darkcoin – Realistic or Scam?

ForexMinute.com – For a cryptocurrency that is nearly four-five months old, Darkcoin has acquired enough public attention and is now counted among the most serious contenders of Litecoin’s position. The coin currently holds the prestigious fifth spot at CoinMarketCap.COM, and is blessed with a strong community as well.

The way Darkcoin has ascended to its current position is indeed mention worthy. The coin’s development team has brought people something that was never discussed before on the global scale – a digital coin with transaction anonymity. This feature, dubbed as Darksend, instantly grabbed the minds of many experts and novices inside the cryptocurrency market.

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But more than an obfuscating feature, Darksend has rather turned out to be the most magnificent marketing tool for Darkcoin. The day-to-day development updates kept adding market cap to the coin, while its trade and adaption also increased by reasonable extents.

But calling Darkcoin an ethical coin would still be a mistake. As the coin is gradually moving towards implementing Darksend+, there are also a chance of certain market manipulation, which we have noticed everal times during the coin’s earlier developement updates. Many believe that they are simply creating a hype in the market to add artificial value to the coin.

But to be the king of the entire blockchain, one needs a huge chunk of Darkcoin units, at least to artificially move it. There are many questions that are need to be answered by Darkcoin developers. How does Darkcoin value jumps exponentially around development updates, and loses steam right after the phase is gone?

The answer seems simple. An individual, or group of individuals, holds a large set of Darkcoin; thus granting themselves an edge to move the Darkcoin market on fingertips. Incidentally, around 1.75 million DRK were mined between block 1 and 4000. Soon after hitting the latter block, the network faced a bug, following which the block reward slipped exponentially. At present, it is 5 DRK against the 500 DRK that it used to be.

And this is how the Darkcoin developers seems to handling the negativities, which is by introducing bugs, errors, faults periodically. They might be moving the market as per the events as well, so that it looks like that a strong community emotion runs Darkcoin. Smart plan, if it exists.

[EDIT: I have removed some controversial part from this article, which was mistaken as me ignoring the successful testnet results of Darksend+. The point of this article is to discuss the market manipulations. It is not to distribute any kind of fear, uncertainity and doubts.]

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  • Jake

    This article is or written by a biassed author, or someone who just didn’t do his research.
    Please feel free to drop by at darkcointalk.org, and check the development progress yourself. You’ll find a complete up and running test environment with public beta. There you can test all the so called promises, and see that it’s way more than “promises, and few more promises”.

  • Brother Jake, my article is not about the success or failure of Darkcoin updates. It is about the ongoing market manipulations in the Darkcoin trading network, clearly based on these updates. Indeed I have checked the positive testing results of DarkSend+ before writing this article. It has potential and you can check my previous articles praising Darkcoin developers for the same. So the question of being biased doesn’t stand erect.

    I am simply accusing a deliberate delay in releasing these developments, just because a huge chunk of Darkcoin is held by its early investors. Even over 80,000 blocks being mined, there are only around 5 million DRK units out there. In first 4000 blocks alone, over 1.75m DRK was generated.

    Market manipulations is a sore truth of cryptocurrency markets. And Darkcoin is not away from it. Apologies if I failed to conclude that nicely for you. Will try being more clear next time.

  • g

    Even if this article is not biased for a person to say that new technology on a scale such as this is being purposefully held off and all the bad comments is just completely incorrect. Krystov Atlas the author of anonymous bitcoin as seen here http://anonymousbitcoinbook.com is doing code review. The community chipped in for this. Please take this article with a grain of sand. And please do make an educated investment by going and reading at darkcointalk.org. I call FUD

  • Sir Alpha_goy

    Shall we turn a blind eye to the BTC/LTC 50:1 ratio as well?