Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1222. (Read 4671924 times)

I'm sure this info is somewhere but I couldn't easily find it.  When is the first block reward reduction for Monero and how much will it reduce by.  I'm guessing at the end of Q2 next year but I'm not sure how big the reduction will be.  I know that ~84% of all XMR will be hashed within four years or probably within three and half years from now.

There's no halving, like in traditional bitcoin and clones, but a constant exponential decrease in the block reward; there's a new, typically lower, reward every block.

Keep in mind the chart shows, I think, the highest possible numbers.

The effect of any block penalty (reduction of reward when miners include more the the normal amount of transaction data) is to slow down the curve a bit. Since there have definitely been periods when the penalty applied (at least during spam attacks, but occasionally other times too), the curve is already somewhat slower than the base calculation.

If there is a period of rapid adoption, then there will also likely be rapid growth in transactions and many penalties, perhaps continuing for an extended period of time. So we may end up with a curve quite a bit slower than projected even under he original parameters (credit to ArticMine for this observation).


Well said

I'm sure this info is somewhere but I couldn't easily find it.  When is the first block reward reduction for Monero and how much will it reduce by.  I'm guessing at the end of Q2 next year but I'm not sure how big the reduction will be.  I know that ~84% of all XMR will be hashed within four years or probably within three and half years from now.

If you just want to create a wallet (AKA monero account)  you just need to run simplewallet.

I thought I might dig this up:
 - Fluffypony's Step-by-step Cold Storage Account Creation Guide for the Paranoid Android -

Wallet working very well. Thank you very much, jwinterm, good work! Syncing very fast, change existing wallets, import it in lightWallet very easy! Very important - use only 1.3 Gb of RAM, none 4 Gb!
But   what's the red rounds when right click on the wallet))

Using multitouch interaction with the mouse

New in version 1.3.0.

By default, the middle and right mouse buttons, as well as a combination of ctrl + left mouse button are used for multitouch emulation. If you want to use them for other purposes, you can disable this behavior by activating the “disable_multitouch” token:

[input]

I2PD: massive progress was made this week adding support for the su3 router update format (the previous .sud / .su2 format being deprecated), which is used to deliver updates to all routers on the i2p network, including: router update alerts, plugin update alerts, reseed data, and news feed items. Details on the su3 format can be found here: https://geti2p.net/en/docs/spec/updates

A Monday missive that came in time, ho-ho-ho very good, very very good! Thanks for posting and nice to see the things are moving!



Now, 2 newbish questions:

1. If I want to create a new wallet, do I have to start and sync the daemon, or it is fine to just start simplewallet.exe on an offline computer?
Yeah, I want to start putting a couple monero somewhere safe, for when they'll get to 1000$

2. The concept of viewkey is not working yet, right? I didn't pay attention to all the news here, sorry about that.

Thanks!

My suggestion is as follows:

1. Take any machine you have lying around, even your normal workstation. You may find it easier to use an older computer that has no wifi or bluetooth if you're particularly paranoid.
2. Create a Linux or Windows bootable disk, and make sure you have the Monero binaries on the same disk or on a second disk (for Linux make sure you have also downloaded copies of the dependencies you will need, libboost1.55 and miniupnpc for instance).
3. Disconnect the network and/or Internet cables from your machine, physically remove the wifi card or switch the wifi/bluetooth off on a laptop if possible.
4. Boot into your bootable OS, install the dependencies if necessary.
5. Copy the Monero binaries to to a RAM disk (/dev/shm in Linux, Windows bootable ISOs normally have a Z: drive or something)
6. Don't run the Monero daemon. Instead, using the command line, use simplewallet to create a new wallet.
7. When prompted for a name, give it any name, it doesn't really matter.
8. When prompted for a password, type in like 50 - 100 random characters. Don't worry that you don't know the password, just make it LONG.
9. Write down (on paper) your 24 word mnemonic seed.
10. Write down (on your phone, on paper, on another computer, wherever you want) your address and view key.
11. Switch off the computer, remove the battery if there is one, and leave it physically off for a few hours.

There you go - the wallet you've created was created in RAM, and the digital files are now lost forever. If some magical hacker manages to somehow get the data, they will lack the long password to open it. If you need to receive payments, you have the address, and you have the view key if needed. If you need access to it, you have your 24 word seed, and you can now write out several copies of it so that you have an offsite copy (eg. a bank deposit box). Due to the nature of the key you can write it as part of something else - eg. write a fake love letter to your wife so that the 24 words on the left hand side are your key or whatever. Then write a bunch of extra love letters. That way, if your deposit box is ever discovered, it'll be disregarded as unimportant love letters.

Monero Monday Missives

December 15th, 2014

Hello, and welcome to our twenty-first Monero Monday Missive!

Major Updates

1. We're aware of the 0.8.8.6 slow startup issues on some Windows environments (over an hour for the daemon to startup for some people). We believe we've identified the problem, and will be rolling out a test fix in the next couple of days, for inclusion in 0.8.8.7

2. There have been a number of patches merged over the past week to fix issues with simplewallet's new multi-language mnemonics

External Projects

MyMonero: due to a very broad DDoS attack at the data center in which MyMonero is hosted (not targeted at MyMonero) the service was offline on Sunday for a 12 hour stretch. We are putting some effort in place to ensure this does not happen again in future. New features added this past week: a "copy to clipboard" helper is now available on the right of your Monero address on your dashboard, as well as on the login key review screen and account details screen. In addition, clicking on a transaction in the dashboard or your transaction history screens will show additional details, such as the payment ID used.

ForkGuard: added MyMonero.com and MoneroClub.com

I2PD: massive progress was made this week adding support for the su3 router update format (the previous .sud / .su2 format being deprecated), which is used to deliver updates to all routers on the i2p network, including: router update alerts, plugin update alerts, reseed data, and news feed items. Details on the su3 format can be found here: https://geti2p.net/en/docs/spec/updates

Dev Diary

Account: still more fixes to the restore paths and multi-lang mnemonics, known issues with UTF-8 on Windows remain

Core: libunbound lookups moved to a thread in order to trap for failing / slow DNS lookups

Until next week!

I finally moved the majority of my coins off of Polo and into my wallets.  I am now less of an idiot.

I then sent some coins to a MyMonero account that I am giving as a gift to somebody.  I sent them the story and info via snail mail.

I'm not sure about mac, but since it's unixy, I'd guess you should put the blockchain.bin file into the .bitmonero folder, which would be a hidden folder in your home directory, at least that's where your default data directory is on linux.

Running 8-8-6 on OSX 10.9.5 and just downloaded the latest blockchain.bin.  All files were installed to "downloads".  Having issues running bitmonerod from a terminal using blockchain.bin download.  Just keeps trying to synchronize the entire block chain from scratch.  Any advice?  Thanks in advance.

Yea! Example - C:\Гpeбaныe пoляки\wallet.bin.keys. lightWallet does not work with this path. Sorry for russian words in post, it's required now.

You have russian characters in the path to your wallet file?