Here’s DarkPay 2nd AMA !

DAO progress update, when will we be legally set up and what country will have jurisdiction over DAO ?

The foundation will be set up in Panama, the ETA is up to budget vote results.

How can MN holders make proposals for voting. So far all proposals have come from team. As a MN holder what is or what will be the process for me to create a proposal to be considered by the MN holders (DAO)?

The current underlying economics were community proposed and voted, feel free to have look ;)
 Everyone will be provided guidance concerning the regular proposal/voting process based on superblocks in a few days, don’t worry !

How will tokens be monetized within the marketplace? Whats to prevent business from being done in DarkPayMarket with coins such as Dash, Zcoin, Beam, Grin, etc? What will drive the market to purchase DKPC specifically?

Because the marketplace is integrated in the wallet’s UI, hence enabling DKPC only transactions.

With this projects focus on censorship resistance and privacy, are you looking to implement mimblewimble tech into coin protocol? It seems to offer enhanced privacy with transactions being done with no permanent addresses…realize this is early tech but is this something you could foresee being used in this project?

It’s actually not that recent (2016) nevertheless DarkPay is always looking to improve its technology so that is definitely something possible in the future.

Marketing….Can we get some details into the plan on how the marketplace will be marketed once project launches?

The way DarkPay is « marketed » since the beginning : In a lean, community driven and product oriented way

Will the marketplace allow store owners to setup subscription based models and allow automated delivery for newsletters and/or digital services their customer database?

digital goods = not implemented at the beginning (to be voted? see fees impact when stocking larger files in-chain?)

Newsletter = not planned

I am not familiar with OpenBazaar, I’m assuming store owners would have several levels to customize their store from basic template customization to more advanced CSS, HTML, PHP, and JavaScript customizations? Similar to Wordpress customization where a person with no knowledge can make basic changes in the GUI screen and people with more advanced web development knowledge can edit their website and plugins directly at the .css, .php, .html (etc) file level?

OB was the first option, but will not be the marketplace basis after experimentations : it’s not simple to use (several apps, search not really user-friendly, …) nor so decentralized (nothing works without OB’s custom APIs, no updated doc, …) Now we have one single app (wallet, proposals, market, and soon secure chat), all driven by our chain; in the beginning there will be one whole market, then separate/private markets options. As it is Angular based (javascript), it will allow css/theming customizations, and implementation of other dapps.

Approximate release date for the Marketplace ?

End Q1-early Q2, maybe earlier, can’t be more precise than that at the moment

Is there a way atomic swaps will be possible in the future? Or can this be done already?

Atomic swaps are implemented in testnet and will be deeply tested after market alpha release.

Will the wallet used in the market be able to stake? In order to trigger a seller on the market not to dump his DKPC immediately after a sale.

The marketplace being accessible from the wallet, you can definitely stake right after a transaction

Hello! Can you please explain this banama-thing to us? I don‘t get it. What is the purpose/advantage? Thank you so much!

Hey ! Banana is a very good food, filled with potassium and anti-acidic ! Maybe you were referring to Panama ?

Sorry, Panama, you are right!

A Panama based foundation will allow our DAO governance to be legally recognized which means that the project will exist regardless of the changes that could occur in terms of human ressources. On top of putting us at the same level of governance as DASH, it will allow us to deal with prestigious partners :)

Is there a scheme of the ecosystem on how the market is going to help DKPC ?

DKPC only market = transactions creating liquidity = giving DKPC more velocity = more value

Users have to buy bitcoin, use CB to get DKPC to buy anything. This seems not very user friendly.

You use fiat to buy BTC to buy alts right ? Those that want to use DarkPayMarket will have to buy DKPC, that’s the deal !

What is the target audience of the marketplace? Is going to be specialty goods buyers/sellers or can i sell things to ?

Basically anyone willing to engage in censorship free transactions anywhere in the world.

If the public can use DKPC market, how is volatility being kept in check? a 5000DKPC price on Monday can be worth 20% less/more in a few days. This can be a problem for “normal” users.

Asset velocity is one of the main « volatility taming » factors, the more transactions on the market the less volatility in theory.

Why is a high price of DKPC good for the marketplace ?

High or low doesn’t change anything for the marketplace.

What is projected volume of business being done on the marketplace ?

Honestly ? No idea. The volume of business will be the reflection of the need for a global, censorship free, fee less way of exchanging goods and services, we could extrapolate figures from there but I’ll let you that pleasure.

As ROI is calculated on selling the rewards of the mn, does the way of increasing value per DKPC mean that daily demand should be bigger than daily MN rewards

- or :

- is there also some kind of coin burn happening

The math is quite harsh on this one.(But i hope i am wrong)

I am assuming the following scenario.

lets say there will be 2500MN and rewards will be 50 (near future ?)

DKPC price is 500sat and 20% will not sell rewards

In this scenario the demand for DKPC need to grow 0.5 BTC every day, also the circulating supply in the marketplace or the business being done on the marketplace needs to increase with 0.5 BTC per day. With volume being just around 1BTC at this moment it seems hard to understand how this kind of growth is sustainable.

Also because of the high amount of rewards being available every day, i can understand why DKPC price is under pressure. Now 110 rewards means a demand needs to be around 1 BTC growth per day.

Or am I missing something in view on the situation.

As many MN holders are now hodling, think many have multiple MN and are just waiting to be able to sell. because selling the rewards is the only way to get the passiveincome we as MN holders are aiming for.

Speculative driven volume and asset velocity driven volume are absolutely different even though both creating demand (and value). We can’t extrapolate anything viable in terms of figures from what we have now since we’re only working with the speculative end of the value spectrum right now. We shall see. We’re planning on proposing very soon a drastic reward + supply reduction in order to support DKPC’s facial value.

I’ve already made this suggestion to STEM but I will post it in here as well. I really think a DarkPayCoin Payment Gateway Plugin for WordPress will jumpstart mass adoption of DarkPayCoin. If that is something in the works, what is the ETA looking like?

We’re working on a way to use DKPC in everyday life besides the marketplace, we believe that’s a more radical way to stimulate adoption.

While we are waiting on the marketplace, can we set up an online store accepting DarkPay? Just want to do my part getting the word out there and to get people to start using DKPC.

Letting you put this one in discussion-room-proposals ;)