Didn't Monero have massive problems in terms of blockchain size?

LiskKing

newbie

Activity: 56

Merit: 0

Quote from: TrueAnon on August 23, 2016, 01:00:01 PM

It's a shit coin with big name/backing by old and left in the dust now, no reason to want to use it, thus it SHOULD die but doesn't.

It will get a pump then dump and be stagnant for a year.

I would buy now before you come back in 2 months and see the price 10x.

Im throwing at least 50K USD from my ETH profit and/ list profit into here if price keeps up this stability. I expected to dump into 600k range...this very impressive...

c789

hero member

Activity: 850

Merit: 1000

~~Lots~~ tons of FUD about XMR these days.

Keep in mind that SIGAINT, Oasis, AlphaBay, and other major entities wouldn't be using Monero if it wasn't everything it's claimed to be. They have way to much at stake to trust their sites to something that has problems. That should be enough to dispel any FUD about Monero.

SIGAINT:
https://www.reddit.com/r/Monero/comments/4xqrzd/sigaint_launches_tor_monero_node_as_its_operators/

Alphabay Market:
https://np.reddit.com/r/DarkNetMarkets/comments/4z0wm3/alphabay_market_launched_first_phase_of_monero/

Oasis:
https://np.reddit.com/r/DarkNetMarkets/comments/4yv1dc/oasis_we_now_accept_monero_xmr/

btc-mike

hero member

Activity: 938

Merit: 1001

Quote from: smooth on August 24, 2016, 03:27:48 AM

Quote from: btc-mike on August 23, 2016, 03:22:41 PM

Quote from: Febo on August 23, 2016, 10:42:40 AM

... development of GUI and other not so important things was put aside.

The not so important things were put aside years ago. Those things will never get attention.

What are you talking about? The GUI has been under active development. You can literally pull it and compile the development version here: https://github.com/mbg033/monero-core

I checked before I posted that. The official GUI wallet is not usable for average users. I've said similar things about the GUI 2 years ago and they are still true.

Quote from: smooth on August 24, 2016, 03:27:48 AM

Quote from: btc-mike on August 23, 2016, 03:22:41 PM

Do you realize the bytecoin devs created monero? They are the only ones that truly understand the codebase.

An enormous portion of it (tens of thousands of lines of code) has been rewritten or heavily modified. Your statement isn't remotely accurate any more.

We each have our opinion on this.

smooth - I like what you guys are doing; taking great technology and making it better but I don't like misinformation.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: thejaytiesto on August 23, 2016, 11:08:25 AM

Monero has an infinite supply, it's an inflationary coin... I wouldn't expect the price to reach massive amounts like BTC.

pumpers and the people who get sucked into it don't care about that and never will.

obit33

sr. member

Activity: 514

Merit: 258

Quote from: thejaytiesto on August 24, 2016, 09:53:37 AM

Quote from: obit33 on August 23, 2016, 01:55:13 PM

Quote from: manselr on August 23, 2016, 01:29:36 PM

Quote from: obit33 on August 23, 2016, 01:17:45 PM

Quote from: thejaytiesto on August 23, 2016, 11:08:25 AM

Monero has an infinite supply, it's an inflationary coin... I wouldn't expect the price to reach massive amounts like BTC. If I had XMR I would sell some right now. Common sense says that such a pump cannot be sustained for much longer. Good luck, im staying out.

gold is also inflationary... infinite supply... its price is higher than bitcoin atm... sure, this pump may not last, but is it really a pump when it happens because something actually gains utility? It's not a pump because of some stupid marketing shenanigans...

monero doesn't even have a GUI yet, has a shitty website and no marketing team... still the price is $4.6... make your own conclusions

Ehhh are you really comparing gold with any cryptocurrency? If you can compare gold to any crypto, that's Bitcoin.

In any case, what makes crypto great is the deflationary and certainty of the total supply. And my conclusions is that this coin is pumped as fuck. I dont know what will happen to those "anonymous coins" once Bitcoin releases all the improvements in privacy that are coming next year.

off course I can compare to gold, gold has an inflation-rate of about 2% yearly... gold has been money and been inflationary for about 5000 years, your point being...?

Bitcoin can't even decide on it's blocksize, good luck on all the other changes that you're waiting for... maybe they will come, but until now they're just vaporware... but still, good luck

edit: btw comparing bitcoin to gold ain't right, bitcoin isn't even fungible...

best regards

Dude do you have bricks for brains? Segwit is comming with 0.13.1. We are at 0.13.0 already, Segwit code is added in testnet, we will have it in the next version. Remember when people said Segwit was "vaporware"??

Next year we will start to see the first sidechains and CT. Bitcoin is king of crypto, deal with it.

And stop comparing gold with any crypto, that is stupid. Gold has legendary network effect. It is in every human's brain to link gold with wealth. You can't compare it with any crypto, only to BTC because BTC is THE crypto.

Dude, i'll believe it when i see it...

Comparison to gold only because you were rambling on over inflationary tendencies...

VCR is king!

thejaytiesto

legendary

Activity: 1358

Merit: 1014

Quote from: obit33 on August 23, 2016, 01:55:13 PM

Quote from: manselr on August 23, 2016, 01:29:36 PM

Quote from: obit33 on August 23, 2016, 01:17:45 PM

Quote from: thejaytiesto on August 23, 2016, 11:08:25 AM

Monero has an infinite supply, it's an inflationary coin... I wouldn't expect the price to reach massive amounts like BTC. If I had XMR I would sell some right now. Common sense says that such a pump cannot be sustained for much longer. Good luck, im staying out.

gold is also inflationary... infinite supply... its price is higher than bitcoin atm... sure, this pump may not last, but is it really a pump when it happens because something actually gains utility? It's not a pump because of some stupid marketing shenanigans...

monero doesn't even have a GUI yet, has a shitty website and no marketing team... still the price is $4.6... make your own conclusions

Ehhh are you really comparing gold with any cryptocurrency? If you can compare gold to any crypto, that's Bitcoin.

In any case, what makes crypto great is the deflationary and certainty of the total supply. And my conclusions is that this coin is pumped as fuck. I dont know what will happen to those "anonymous coins" once Bitcoin releases all the improvements in privacy that are coming next year.

off course I can compare to gold, gold has an inflation-rate of about 2% yearly... gold has been money and been inflationary for about 5000 years, your point being...?

Bitcoin can't even decide on it's blocksize, good luck on all the other changes that you're waiting for... maybe they will come, but until now they're just vaporware... but still, good luck

edit: btw comparing bitcoin to gold ain't right, bitcoin isn't even fungible...

best regards

Dude do you have bricks for brains? Segwit is comming with 0.13.1. We are at 0.13.0 already, Segwit code is added in testnet, we will have it in the next version. Remember when people said Segwit was "vaporware"??

Next year we will start to see the first sidechains and CT. Bitcoin is king of crypto, deal with it.

And stop comparing gold with any crypto, that is stupid. Gold has legendary network effect. It is in every human's brain to link gold with wealth. You can't compare it with any crypto, only to BTC because BTC is THE crypto.

raphma

sr. member

Activity: 350

Merit: 250

Quote from: bbc.reporter on August 24, 2016, 01:51:25 AM

I feel it is very unfair for some that they lacked all the info about XMR and what we mostly read here are all the FUD from other people in this forum.

lol, there are tons of topics about xmr... you believe what you want. Every coin have FUD so it's up to you decide what worth what not.

smooth

legendary

Activity: 2968

Merit: 1198

OP, there were real two issues with the blockchain size back when the coin started in 2014:

1. The original open source pool software created by the Monero community paid every single miner on every single block. That obviously led to a massive amount of bloat.

2. The blockchain was being stored in RAM, which obviously made a large blockchain extremely problematic.

Both issues were solved long ago.

Quote from: btc-mike on August 23, 2016, 03:22:41 PM

Quote from: Febo on August 23, 2016, 10:42:40 AM

... development of GUI and other not so important things was put aside.

The not so important things were put aside years ago. Those things will never get attention.

What are you talking about? The GUI has been under active development. You can literally pull it and compile the development version here: https://github.com/mbg033/monero-core

Quote from: bbc.reporter on August 24, 2016, 01:51:25 AM

what we mostly read here are all the FUD from other people in this forum.

Exactly right. Please visit the Monero threads here, the Monero web site, forum, Slack, IRC, telegram, etc. to get accurate information.

Quote from: thejaytiesto on August 23, 2016, 11:08:25 AM

Monero has an infinite supply, it's an inflationary coin...

Probably not in practice. Given lost coins the supply will reach an equilibrium at some fixed amount (probably around 30 million coins) and stop growing. Read more here

Quote

I wouldn't expect the price to reach massive amounts like BTC. If I had XMR I would sell some right now. Common sense says that such a pump cannot be sustained for much longer. Good luck, im staying out.

Speculation and price talk thread is here

DaveyJones

hero member

Activity: 768

Merit: 505

Quote from: manselr on August 23, 2016, 01:29:36 PM

Quote from: obit33 on August 23, 2016, 01:17:45 PM

Quote from: thejaytiesto on August 23, 2016, 11:08:25 AM

Monero has an infinite supply, it's an inflationary coin... I wouldn't expect the price to reach massive amounts like BTC. If I had XMR I would sell some right now. Common sense says that such a pump cannot be sustained for much longer. Good luck, im staying out.

gold is also inflationary... infinite supply... its price is higher than bitcoin atm... sure, this pump may not last, but is it really a pump when it happens because something actually gains utility? It's not a pump because of some stupid marketing shenanigans...

monero doesn't even have a GUI yet, has a shitty website and no marketing team... still the price is $4.6... make your own conclusions

Ehhh are you really comparing gold with any cryptocurrency? If you can compare gold to any crypto, that's Bitcoin.

In any case, what makes crypto great is the deflationary and certainty of the total supply. And my conclusions is that this coin is pumped as fuck. I dont know what will happen to those "anonymous coins" once Bitcoin releases all the improvements in privacy that are coming next year.

Like they did with the blocksize? ... yeah that was a fast decision to implent anything :p

Quote from: bbc.reporter on August 23, 2016, 08:17:03 PM

Quote from: Febo on August 23, 2016, 10:42:40 AM

All was solved with 0.9. Hydrogen Helix. It was developed over a year and a half. And development of GUI and other not so important things was put aside.
Hydrogen Helix was implemented on January first 2016. At that time everyone could know Monero price will go only one way. Since Hydrogen Helix provided way faster future development.

So how will the users of the darknet market use XMR if there is no GUI and no light wallet? This will be a hurdle for them to overcome and it will also be a hurdle for wider adoption. The news of Alphabay and Oasis is hyped to much. If the buyers and sellers there decide to use XMR they will surely scratch their heads wondering what to do.

No light wallet is not entire true. If you use Nodes like the Sigaint Tor Node or the random ones from http://moneroworld.com/. But by that you are giving up some of the advantages/privacy from Monero.

Whtwabbit

sr. member

Activity: 490

Merit: 266

Quote from: bbc.reporter on August 24, 2016, 01:51:25 AM

Quote from: btc-mike on August 23, 2016, 08:44:39 PM

Quote from: bbc.reporter on August 23, 2016, 08:17:03 PM

Quote from: Febo on August 23, 2016, 10:42:40 AM

All was solved with 0.9. Hydrogen Helix. It was developed over a year and a half. And development of GUI and other not so important things was put aside.
Hydrogen Helix was implemented on January first 2016. At that time everyone could know Monero price will go only one way. Since Hydrogen Helix provided way faster future development.

So how will the users of the darknet market use XMR if there is no GUI and no light wallet? This will be a hurdle for them to overcome and it will also be a hurdle for wider adoption. The news of Alphabay and Oasis is hyped to much. If the buyers and sellers there decide to use XMR they will surely scratch their heads wondering what to do.

There are GUI wallets from 3rd party devs.

https://getmonero.org/getting-started/choose

I wish I could have seen that earlier. Thanks for posting this will be very useful for everyone in the future. I did not realize that there is already a light wallet and a web wallet. Please advertise well next time. I feel it is very unfair for some that they lacked all the info about XMR and what we mostly read here are all the FUD from other people in this forum.

It was very unfair no-one contacted me in 2012 to notify me about bitcoin

bbc.reporter

legendary

Activity: 3122

Merit: 1492

Quote from: btc-mike on August 23, 2016, 08:44:39 PM

Quote from: bbc.reporter on August 23, 2016, 08:17:03 PM

Quote from: Febo on August 23, 2016, 10:42:40 AM

All was solved with 0.9. Hydrogen Helix. It was developed over a year and a half. And development of GUI and other not so important things was put aside.
Hydrogen Helix was implemented on January first 2016. At that time everyone could know Monero price will go only one way. Since Hydrogen Helix provided way faster future development.

So how will the users of the darknet market use XMR if there is no GUI and no light wallet? This will be a hurdle for them to overcome and it will also be a hurdle for wider adoption. The news of Alphabay and Oasis is hyped to much. If the buyers and sellers there decide to use XMR they will surely scratch their heads wondering what to do.

There are GUI wallets from 3rd party devs.

https://getmonero.org/getting-started/choose

I wish I could have seen that earlier. Thanks for posting this will be very useful for everyone in the future. I did not realize that there is already a light wallet and a web wallet. Please advertise well next time. I feel it is very unfair for some that they lacked all the info about XMR and what we mostly read here are all the FUD from other people in this forum.

c789

hero member

Activity: 850

Merit: 1000

As others have stated, those problems have been fixed in earlier releases.

Blockchain size is not really a concern long-term thanks to Moore's law.

This is from ArcticMine's sig:

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card

Remember how much storage was available on smartphones just a few years ago? Not much. And look at how much the average consumer hard drive has increased in capacity in just the last few years. Project that with Moore's law and you'll see that storage space is not a long-term problem for any cryptocurrency.

btc-mike

hero member

Activity: 938

Merit: 1001

Quote from: bbc.reporter on August 23, 2016, 08:17:03 PM

Quote from: Febo on August 23, 2016, 10:42:40 AM

All was solved with 0.9. Hydrogen Helix. It was developed over a year and a half. And development of GUI and other not so important things was put aside.
Hydrogen Helix was implemented on January first 2016. At that time everyone could know Monero price will go only one way. Since Hydrogen Helix provided way faster future development.

So how will the users of the darknet market use XMR if there is no GUI and no light wallet? This will be a hurdle for them to overcome and it will also be a hurdle for wider adoption. The news of Alphabay and Oasis is hyped to much. If the buyers and sellers there decide to use XMR they will surely scratch their heads wondering what to do.

There are GUI wallets from 3rd party devs.

https://getmonero.org/getting-started/choose

btc-mike

hero member

Activity: 938

Merit: 1001

Quote from: ?? on ??

I'm almost sorry you fell for the old fud from dash/bytecoin.

Do you realize the bytecoin devs created monero? They are the only ones that truly understand the codebase.

raphma

sr. member

Activity: 350

Merit: 250

Quote from: thejaytiesto on August 23, 2016, 11:08:25 AM

Monero has an infinite supply, it's an inflationary coin... I wouldn't expect the price to reach massive amounts like BTC. If I had XMR I would sell some right now. Common sense says that such a pump cannot be sustained for much longer. Good luck, im staying out.

this is just half true.
even though it is infinite, the price will depend on production x use (demand x supply).

ETH have infinite supply too and the price still "high". xmr might never achieve bitcoin price but still a good investment.

bbc.reporter

legendary

Activity: 3122

Merit: 1492

Quote from: Febo on August 23, 2016, 10:42:40 AM

All was solved with 0.9. Hydrogen Helix. It was developed over a year and a half. And development of GUI and other not so important things was put aside.
Hydrogen Helix was implemented on January first 2016. At that time everyone could know Monero price will go only one way. Since Hydrogen Helix provided way faster future development.

So how will the users of the darknet market use XMR if there is no GUI and no light wallet? This will be a hurdle for them to overcome and it will also be a hurdle for wider adoption. The news of Alphabay and Oasis is hyped to much. If the buyers and sellers there decide to use XMR they will surely scratch their heads wondering what to do.

btc-mike

hero member

Activity: 938

Merit: 1001

Quote from: obit33 on August 23, 2016, 03:58:11 PM

Quote from: btc-mike on August 23, 2016, 03:22:41 PM

Quote from: Febo on August 23, 2016, 10:42:40 AM

... development of GUI and other not so important things was put aside.

The not so important things were put aside years ago. Those things will never get attention.

they do have an adaptive blocksize already... some coins don't even after 7 years...

some coins don't require it. monero did.

paratox

full member

Activity: 124

Merit: 100

Quote from: thejaytiesto on August 23, 2016, 11:08:25 AM

Monero has an infinite supply, it's an inflationary coin... I wouldn't expect the price to reach massive amounts like BTC. If I had XMR I would sell some right now. Common sense says that such a pump cannot be sustained for much longer. Good luck, im staying out.

As a matter of fact, it isn't inflationary. The correct term is "disinflation".

From https://getmonero.org/knowledge-base/about :

Quote

The block reward will never drop below 0.3 XMR, making monero a disinflationary currency: the inflation will be roughly 1% in 2022 and go down forever, but the nominal inflation will stay at 0.3 XMR per minute. This means that there will always be an incentive for miners to mine monero and thus keeping the blockchain secure, with or without a fee market.

Topic: Didn't Monero have massive problems in terms of blockchain size? (Read 2560 times)