Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1236. (Read 4670643 times)

Anyone else thinking we've hit the bottom for Monero?

I know I took this oppurtunity load the boat!

That remains to be seen.  It is contrary to my own expectation:  At this point, a dozen middle-class enthusiasts could buy all of the emission, forever.  The potential value will only be unlocked by network effects when an economy develops.  Meanwhile, the number and conviction of the hard-core buyers will make the long-term minimum support level clear very very soon.  Actually building an economy will require further improvements in the software situation.

1. No

2. It's a 24 word seed + a single word checksum. This gives you a 256-byte key generated from a 1626-word word list (position relative to the previous word is important, and they're generated in sets of 3 - i.e. 32 bits per set). You'd need the world's computational power and then more time than our sun will exist.

and its getting lower and lower each day and will never go back up

At the exchange peak daily emission was 106 kUSD.  Today it is (instantaneously) 6.4k, > 16x smaller.  

I just tried the new Monero 0.8.8.6-release. Maybe it's a stupid question but those "25 words" that can be used to recover access to my wallet seems to be generated from some predefined dictionary... so I'm wondering

(i) if I can choose my own set of 25 (imaginary) words, and
(ii) if a brute-force wordbook attack would be feasible in order to crack my wallet given that the predefined dictionary is surely finite.

In short, can I somehow turn this recovery-feature off to feel safer?

I started from the beginning too. Right now I'm fully synced and saving the blockchain for the first time.

It will go lower. 

here is syncing fine, maybe because i started from the beginning?

Same problem here

Seems it does start at some point, after two long delays. Here's some logging:

2014-Dec-09 09:53:43.764375 bitmonero v0.8.8.6-release
2014-Dec-09 09:53:43.765375 Module folder: C:\Users\****\AppData\Roaming\bitmonero\bitmonerod.exe
2014-Dec-09 09:53:43.765375 Initializing P2P server...
2014-Dec-09 10:11:32.114481 Binding on 0.0.0.0:18080
2014-Dec-09 10:11:32.115481 Net service bound to 0.0.0.0:18080
2014-Dec-09 10:11:32.116481 Attempting to add IGD port mapping.
2014-Dec-09 10:11:36.124710 No IGD was found.
2014-Dec-09 10:11:36.124710 P2P server initialized OK
2014-Dec-09 10:11:36.125710 Initializing protocol...
2014-Dec-09 10:11:36.125710 Protocol initialized OK
2014-Dec-09 10:11:36.125710 Initializing core RPC server...
2014-Dec-09 10:11:36.125710 Binding on 127.0.0.1:18081
2014-Dec-09 10:11:36.125710 Core RPC server initialized OK on port: 18081
2014-Dec-09 10:11:36.126710 Initializing core...
2014-Dec-09 10:11:36.126710 Loading blockchain...
2014-Dec-09 10:11:36.126710 Can't load blockchain storage from file, generating genesis block.
2014-Dec-09 10:11:36.275719 Blockchain initialized. last block: 0, d888.h10.m11.s36 time ago, current difficulty: 1
2014-Dec-09 10:31:49.936136 Core initialized OK
2014-Dec-09 10:31:49.937136 Starting core RPC server...
2014-Dec-09 10:31:49.938136 Run net_service loop( 2 threads)...
2014-Dec-09 10:31:49.939136 [SRV_MAIN]Core RPC server started ok
2014-Dec-09 10:31:49.939136 [SRV_MAIN]Starting P2P net loop...
2014-Dec-09 10:31:49.940137 [SRV_MAIN]Run net_service loop( 10 threads)...
2014-Dec-09 10:31:50.940194 [P2P7] .......... started syncing ..........

Whats a decent projection?  If you are asking for an accurate one there doesnt seem to be such a thing in these markets.

Any decent projections on BTC price in next month, I've been waiting for it to dip again but it's holding pretty steady last week or so. I want to invest this months income in xmr but want to grab the btc as low as possible obviously.

When the Monero database will be ready (and tested)?

I think you can change your password when you recover from the mnemonic seed.

What would be really nice in terms of the simplewallet functionality is if there was a way to change your simplewallet password.  Is such a feature planned at all?

It is a myth that botnets are 100% profit. It is well documented that botnet nodes have a market price. If mining brings in less than that, it is better to sell the node (or do something else with it).

Our primary concern though is creating the most secure and private coin and that means (among other things) decentralization of mining. If that includes botnets, well, we can't solve every problem in the world. As fluffypony said it can a relatively small part of the system, assuming a large number of users. But without users, none of this actually matters.

I'm having trouble with bitmonerod on Win7/64 - it hangs on initializing the P2P server. From bitmonerod.log:


It stayed like this for about 15 minutes before I gave up waiting. In this meanwhile, bitmonerod uses about 4 MB of RAM and has no CPU usage. Any clues?

Meaning?

Yes, long-term with sufficient easy-to-use interfaces and enough network growth we can make botnets a relatively tiny part of the system.