Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1410. (Read 4671947 times)

I never said I was leaving, just that in 2 days I would be back.

You could also configure it for the script to start automatically at system startup. This way you would only have to launch the instance or instances and you'd be mining.

http://stackoverflow.com/questions/12973777/how-to-run-a-shell-script-at-startup

And maybe create an AMI with this with the DEV fund address and anyone who would want to just had to launch the instances without having access them to configure stuff. Thus lowering the barrier to entry.

The instructions would be cut in half to get an account and launch your instances.

I'll only be able to do this this evening (and don't even know if people would trust my AMI), so if some trusted member of the community could set it up earlier it would certainly help.

I would also advise to spread the instances over the various regions so that we do not compete with each other for the low prices.
Also if we rely only in spot instances there may be none available if someone (for example an attacker) were to instantiate 1000s of instances for the full price.

There's a whole host of different instances that could be used. Don't look only at g2.2xlarge and c3.8xlarge. If we could spread it also to other instances it could prevent some of the problems above (the AMI would work fine with any of them although with a lower hashrate. And it would be good also for people who can't afford the higher end ones)

And don't forget the free tier (about 8h/s but free).

How can I calculate the estimated time to find a block solo, I'm running 17khs.

Hey, it isn't an exact calculation, but you can take a look at this pool list http://minexmr.com/pools.html (thanks for the link, jwinterm) to see when some of the smaller pools last found a block.

By looking at the current network hashrate, it can be calculated. Maybe someone will chime in with the formula. I remember seeing it somewhere in this forum a week or so ago.

My best guesstimate is that you would probably find a block in a day or so, give or take (?) [depends on Lady Luck, eh]

How can I calculate the estimated time to find a block solo, I'm running 17khs.

Good question. I have never seen an answer to this. GPU mining is only set up for pools? Perhaps we'll get a better answer.

Meanwhile, put it on a smaller pool, with a backup pool configured.

Also, don't forget to solo mine on your CPUs as well.

Thanks for the support!

Good question. I have never seen an answer to this. GPU mining is only set up for pools? Perhaps we'll get a better answer.

Meanwhile, put it on a smaller pool, with a backup pool configured.

Also, don't forget to solo mine on your CPUs as well.

Thanks for the support!

i have 1 GPU, how do i solo mine with it? usually i connect to moneropool.org.

i know it does not mean much but its a solid 315 h/s

Just to throw it out there, what about a 2% mining tax instead of a 2% bootstrap?

It's kind of sad... Monero has attracted some of the smartest minds I've seen in cryptocurrencies and cryptography, but we don't have enough money to pay to developed even 1/4 of the things we need to. It costs about $100-150 an hour to contract a decent programmer to hack (and please don't start on the value of third world programmers, if you're talking about that you've probably never used them), or $800-1200 a day. I would estimate that ByteCoin put in about a half million USD to get their project off the ground, which is probably why they've been trolling us so hard. But, the fact of the matter is, we're either paying out of pocket or (like me) working completely for free.

Monero is about a lot more than pumping and dumping -- it uses many of the features that have been desired from core devs over time like privacy and faster/more secure EdDSA (which uses Schnorr signatures). But there are major, major architectural overhauls to the core code that need to be done to give it even a fraction of the usability of BTC, and I fear we won't be able to afford that. I suspect we need at least 0.25-0.50M USD per year to keep things moving along smoothly, and we're not getting close to $21K USD a month in donations.

I would decide on how much XBT to invest and then cost average over the next 24 hours or so. One can also monitor the trolls and when the trolling peaks then buy. I have observed a correlation between the intensity of the trolling and the price. I would also keep a close eye for developer announcements that could also impact the price.  This is likely to be a tumultuous couple of days so it is best to keep a cool head and stick to a system rather than try to time the bottom.

One thing is also possible. If the attack fails or is cancelled than there is a very significant chance that XMR/XBT will spike in a buying panic. One does not want to get caught short if this happens.

An ongoing 1% at current prices (future prices who knows, but downside price risk is there if there are fiat-denominated ongoing costs) only raises about 10K USD per month. This amount declines due to reduced mining by about 4% per month (i.e. quite significant after say six months).

That is barely enough for one full time developer, not counting costs for infrastructure, experts, unexpected, etc. Of course there will still be donations, T-shirt sales, whatever MEW comes up with, etc. So I'm not saying it can't work, but it is definitely not so much relative to anticipated costs that the question shouldn't be asked.

Troll agenda is obvious. Unfortunately for them this community is above the curve.

I need some good predictions for the floor to get back in. What do you guys think?

For what do you anticipate the potential $250k reserve being needed, and couldn't that be covered by the ongoing mining tax?