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Topic: rpietila Altcoin Observer - page 193. (Read 387552 times)

sr. member
Activity: 427
Merit: 250
July 08, 2014, 07:06:01 AM
this is quite a valueable post - I think what all the guys fearing the actual competition (drk, xc, vrc) need to understand is that this topic is extremely sensitive. besides distribution the competition is oftentimes half-baked, or even closed source regarding anonymisation (!)

guys seriously, who the heck will trust something like that with his most sensitive issue, his privacy?

Hm, I thought it's common knowledge that the majority of "Joes" don't care about their privacy.
hero member
Activity: 742
Merit: 500
July 08, 2014, 06:04:10 AM
IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.

Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market.

It has a market base but it isn't within the main stream. It is called the Black market.

this is quite a valueable post - I think what all the guys fearing the actual competition (drk, xc, vrc) need to understand is that this topic is extremely sensitive. besides distribution the competition is oftentimes half-baked, or even closed source regarding anonymisation (!)

guys seriously, who the heck will trust something like that with his most sensitive issue, his privacy?
hero member
Activity: 798
Merit: 1000
July 08, 2014, 04:00:50 AM
Any number of events may serve as a catalyst to drive people into a privacy-protected currency.  I have no convictions as to which will occur in what order, but I do think that the number of them is large so several will occur in time, and motivated investors will be highly motivated when their personal trigger gets pulled.  XMR > LTC seems like a no-brainer.  (Hopefully that will involve XMR appreciation as well as LTC depreciation.)

I rather hope that no influx of neophytes occurs before the db is out, so that 32 bit works, and an easily used gui with qr code ex/im/xn support is available.

I will be flying discount fares, drinking immature liquor, foregoing car service, deferring donations, as long as XMR is this cheap, accumulating.

Exponentially declining emission, people.  Get them while you can.


Its posts like these that make me sure I'm doing the correct thing by continuing to accumulate, genuine fundamental reasons why a coin is a good one to have. Instead of the normal Marketcap comparisons which justify a rise in price as inevitable just because the current cap is lower than competitors  or "It hasn't been pumped yet" conversations as well.

The whole reasoning behind the emission curve being what it is was to provide everyone with the chance they are getting now, to get in at a decent price that is relatively stable before the reward decreases and the HR/Difficulty increases as well. People always moan about instamine/ninjamine and then when they are presented with a high inflationary coin that tackles those points in the early days of its inception everyone is too afraid to accumulate, you cant win. Well that is unless you understand this and are one of the smarter people buying them up. Increasing network and decreasing block reward, the writing is one the wall.
hero member
Activity: 574
Merit: 506
July 08, 2014, 03:59:06 AM
I believe we are near rock bottom. It was either reached yersteday at sub 2 dollar price or there is going to be one last leg down in couple of days.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
July 08, 2014, 03:33:14 AM
Very few people want their financials published. With a transparent block chain fungibility is a big problem, and you open yourself up to extortion.

I agree that most privacy claims are bogus.  XMR, distinctively,  has the capability to make strong privacy easy to use.  That will take time, but not much.

Tthat is why I own so much, and more daily.
legendary
Activity: 2156
Merit: 1131
July 08, 2014, 03:05:06 AM
Monero: CPU coins are a risk, because eventually they are discovered by botnet operators, and as they begin to take the lions share of mined coins, the network can suffer as a whole and prices can crash. This can also stifle the adoption of the coin. It's happened to countless "CPU" coins already.
(I've considered Monero a CPU coin, because of the 1:1 CPU:GPU performance ratio, and there are much more CPU in the world waiting to be exploited than GPU, and, exploiting CPU is easier, because they dont have the complexities of different card configurations as is the case for GPU.)
As the difficulty has risen 300% or more in the last 30 days, it is possible this is already happening. Of course, it is impossible to prove. But in any case I will be steering clear of this one in terms of both mining and investing/trading.
I thought that CPU:GPU was already 20 times...
The only good news about botnets is that they will cause a depression in price whilst the inflation is in it's peak. Thankfully the inflation drops everyday.

If botnets were completely free, bot-owners would not be so careful about choosing the right crypto to mine and they wouldn't have to dump to pay some expenses.
There are no rules, no authority so botnet is one way of mining. Some miners have very cheap of free electricity. Well, lucky them.
It is very profitable right now thanks to the emission curve. It will not last. Miners will become professionals, GPU-mining-software will surpass 32-bits-CPU-botnet-software and the price will be less affected by dumping.

legendary
Activity: 1106
Merit: 1000
July 08, 2014, 03:03:17 AM
I thought that CPU:GPU was already 20 times...

The only good news about botnets is that they will cause a depression in price whilst the inflation is in it's peak. Thankfully the inflation drops everyday.


I see that too. GPU is getting more and more efficient to CPU. As for inflation, I believe people will see XMR's reward small enough in 6-8 months. I start mining XMR when its reward is 17.46 (April) but now it is about 15.7. When the reward drops to about 10 - 12 XMR/block, the total supply per day will be significantly lower than today
legendary
Activity: 1176
Merit: 1015
July 08, 2014, 02:59:05 AM
IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.

Interesting. The Monero team already have academics verifying the white paper and will soon move onto the code.

Also many Bitcoin core developers have scrutinised Monero with no obvious flaw in the ring signature concept.
legendary
Activity: 1176
Merit: 1015
July 08, 2014, 02:57:09 AM
IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.

Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market.

It has a market base but it isn't within the main stream. It is called the Black market.

smoothie, please note that for the past four years and even today many people are saying that Bitcoin will likely never be accepted as a legitimate way to pay for things in the mainstream market.

Bitcoin has been proving these people wrong for a long time, and most of the media still reports Bitcoin as anonymous to the general public.

So in the public eye and eye of the average Government official, a decentralized anonymous uncontrollable currency with no ability to stop accounts from moving money is now gaining mainstream adoption, that thing is Bitcoin.

Bitcoin is paving the road for currencies like Monero.

Everything you said could have been said about Bitcoin even as late as last year.
sr. member
Activity: 1092
Merit: 254
July 08, 2014, 02:56:59 AM
IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.

Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market.

It has a market base but it isn't within the main stream. It is called the Black market.
Problem is there arent many things on the web (even tor has a vulnerability in their exit nodes if I remember correctly) which aren't traceable. Point is privacy is like the new "ASIC resistant" wave and then the "GPU resistant" wave, there are no merits to it until it has been vetted by the crypto community. There was a time even bitcoin was supposed to be completely untraceable.
legendary
Activity: 1106
Merit: 1000
July 08, 2014, 02:56:29 AM
Monero: CPU coins are a risk, because eventually they are discovered by botnet operators, and as they begin to take the lions share of mined coins, the network can suffer as a whole and prices can crash. This can also stifle the adoption of the coin. It's happened to countless "CPU" coins already.

(I've considered Monero a CPU coin, because of the 1:1 CPU:GPU performance ratio, and there are much more CPU in the world waiting to be exploited than GPU, and, exploiting CPU is easier, because they dont have the complexities of different card configurations as is the case for GPU.)

As the difficulty has risen 300% or more in the last 30 days, it is possible this is already happening. Of course, it is impossible to prove. But in any case I will be steering clear of this one in terms of both mining and investing/trading.

High diff caused by cloud miners, not botnet because low end PC is too slow for XMR and the monitored network connections shows that IPs are not diversified enough. Some guys paid up to USD 100k/month to mine XMR
legendary
Activity: 1176
Merit: 1015
July 08, 2014, 02:53:31 AM
Monero: CPU coins are a risk, because eventually they are discovered by botnet operators, and as they begin to take the lions share of mined coins, the network can suffer as a whole and prices can crash. This can also stifle the adoption of the coin. It's happened to countless "CPU" coins already.

(I've considered Monero a CPU coin, because of the 1:1 CPU:GPU performance ratio, and there are much more CPU in the world waiting to be exploited than GPU, and, exploiting CPU is easier, because they dont have the complexities of different card configurations as is the case for GPU.)

As the difficulty has risen 300% or more in the last 30 days, it is possible this is already happening. Of course, it is impossible to prove. But in any case I will be steering clear of this one in terms of both mining and investing/trading.

I thought that CPU:GPU was already 20 times...

The only good news about botnets is that they will cause a depression in price whilst the inflation is in it's peak. Thankfully the inflation drops everyday.

hero member
Activity: 546
Merit: 500
July 08, 2014, 01:57:01 AM
Monero: CPU coins are a risk, because eventually they are discovered by botnet operators, and as they begin to take the lions share of mined coins, the network can suffer as a whole and prices can crash. This can also stifle the adoption of the coin. It's happened to countless "CPU" coins already.

(I've considered Monero a CPU coin, because of the 1:1 CPU:GPU performance ratio, and there are much more CPU in the world waiting to be exploited than GPU, and, exploiting CPU is easier, because they dont have the complexities of different card configurations as is the case for GPU.)

As the difficulty has risen 300% or more in the last 30 days, it is possible this is already happening. Of course, it is impossible to prove. But in any case I will be steering clear of this one in terms of both mining and investing/trading.
legendary
Activity: 1708
Merit: 1049
July 08, 2014, 01:41:49 AM
IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.

Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market.

Billions of USD in transactions are conducted every day in such a non-traceable manner: Cash.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
July 08, 2014, 01:02:16 AM
IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.

Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market.

It has a market base but it isn't within the main stream. It is called the Black market.
sr. member
Activity: 1092
Merit: 254
July 08, 2014, 12:11:54 AM
IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
July 07, 2014, 11:40:41 PM
Any number of events may serve as a catalyst to drive people into a privacy-protected currency.  I have no convictions as to which will occur in what order, but I do think that the number of them is large so several will occur in time, and motivated investors will be highly motivated when their personal trigger gets pulled.  XMR > LTC seems like a no-brainer.  (Hopefully that will involve XMR appreciation as well as LTC depreciation.)

I rather hope that no influx of neophytes occurs before the db is out, so that 32 bit works, and an easily used gui with qr code ex/im/xn support is available.

I will be flying discount fares, drinking immature liquor, foregoing car service, deferring donations, as long as XMR is this cheap, accumulating.

Exponentially declining emission, people.  Get them while you can.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
July 07, 2014, 11:23:22 PM
on the other hand it means that it will attract a lot of miners, which will make the diff skyrocket, which should result in a price increase.

Diff has nothing to do with price.

When a relationship is complex, it is easy (but costly) to ignore.  Supply has a cost.  That cost is strictly determined by difficulty.  These are facts, not opinions.  Another fact: delta difficulty cointegrates with delta price.  That is quite a long distance from ' nothing to do'.
hero member
Activity: 798
Merit: 1000
‘Try to be nice’
July 07, 2014, 10:37:55 PM
Any PoS coin that has an IPO will never get far. Incase you guys haven't noticed, Bitcointalk.org is not the public, having an IPO where even 10,000 "real" members take part is still an extremely unfair distribution.
With PoW, anyone can go and try and mine, no matter how late they are to the scene. I had a friend try and mine Bitcoin on his cpu, hey at least he tried and could of gotten some if he was successfull, but that could never happen with PoS coins.
Darkota, not get offended please, but you are an ignorant prick.
What is the different between buying a coin and buying the mining equipment to average joe?
If you have spent 10k usd in mining equipment and IPOs take the lead, dont be so butthurt and open your mind.
You are welcome.
Are you this simple minded?
With an IPO an pure PoS coins, there is a limited amount of time you are able to become a stakeholder, so the ones who get in early have a hugely unfair advantage over everyone else
With a PoW coin, you can always mine if you want, for decades to come, and the ones that get in early have an advantage, but not by that much.(Ex: Bitcoin etc etc)
For EX: The first 50 accounts on NXT's richlist own over 48% of all coins there is...
Do your Homework please.


That's not a good argument sorry.
On PoW, few big miners/company will be owning over 50% of the hardware so, it end up the same.

Actually, it is worse : 3 pools own 95% of the network.


Yeah but here's the thing about the free market.

It doesn't care what is a good or not a good argument.

In theory if NXT had of stuck to its own exchange it could bid itself way past Bitcoin.

So what? Still doesn't make it a good investment.

 And indeed Bitcoins own centralized model will cause its collapse.

So what?

That's the market.

You choose which side to get on but reality isn't going to shift & the information in the market will constantly expand.
legendary
Activity: 1106
Merit: 1000
July 07, 2014, 10:29:57 PM
on the other hand it means that it will attract a lot of miners, which will make the diff skyrocket, which should result in a price increase.

Diff has nothing to do with price.
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