Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1634. (Read 4670614 times)

Beyond that 

is this baby going to 0.01? 

should i dump soon ? i would like moar xmr ^^

Does it make any sense to try mining monero with the use of a laptop?

My PC needs repair and I’m thinking of switching to laptop for a while.

Hey guys!

I decided to launch special campaign which will give you an opportunity to get 0% PPLNS fee for a month on Minergate.com.

1. Take a photo of your mining rig with a list of paper in front, which is saying “I mine on Minergate using YOUR EQUIPMENT”  (YOUR EQUPMENT – equipment you use for mining)
2. Post photo in Twitter with a message “I earn #user_currency on #cryptonote #miningpool @MinerGate minergate.com”(user_currency – coin you mine)
3. Post a link to your tweet in our topic in Bitcointalk https://bitcointalk.org/index.php?topic=528848.1080
4. PM me with a link to your post and email you use for mining

Hope you will enjoy this little entertainment and waiting for your photos!

I have been mining XMR exclusively for around 6 weeks now. I have yet to sell a single XMR. It is already profitable but you might make more short term with other coins.

I also keep buying more on exchanges when I think the price is right.

Yup, but I'm mining to hold. No interest in selling any this year, and probably not 2015 either. I am not sure about short term profitability.

Is there anyone here who is mining XMR only, no other coins? Will it be profitable?

Indeed, I've yet to see a convincing argument (quite possible I havent looked hard enough) that Bitcoin tx fees will be enough by themselves to fund a sufficiently decentralised mining network, and miners are the only ones who really have an incentive to run full nodes too.

My personal view is that the future usage of Monero will be less about being an alternative to Paypal/credit cards (which would provide a high daily tx volume relative to value), and more about discretely moving wealth (lower tx volume but with higher value), so tx fees only block reward will be comparatively less than what Bitcoin might achieve.

Its possible that other services could be grafted on to Monero mining pools to add value - even with the move to db storage for the blockchain it still has a high storage and processing requirement to maintain a wallet. There has been some discussion already about a "thin wallet" client that relies on a hosted service, perhaps a future evolution might see wallet users paying a small fee to pools/miners for providing that. Or a different sort of merged mining where the network can be utilised as a sort of distributed supercomputer for hire, in addition to block solving work miners can be submitting shares for work on third party computing tasks.

My point is that a perpetual block reward may not be necessary to keep the network secured if some lateral thinking is applied, however "not necessary" doesn't mean it may not be desirable for other reasons.

Actually got my coins, thanks very much! I hope the improvements make it to implementation - you guys have built something good and it would be cool to see it gain a real edge on the rest.
guys, keep posting suggestions because if they're actually taking notice and doing them then we can get a half decent exchange going here! ..Thanks for the reward again

Do this, get rich quick! Send your suggestions or bug reports to [email protected]

I will flood you.

Hi! Hitbtc team here.
As you remember, several days ago we launched a new campaign:
Now everyone can send us bug reports or usability improvements.


Thank you for taking a part in this campaign. We now have more than 10 e-mails with different suggestions or reports.
For now all of them are currently under investigation. Once this process is complete, we’ll send out rewards.
But the first rewards have already been transfered!
The campaign is not over, so send your bug reports or usability improvements to [email protected] to get your reward:
• 100 XMR for a bug report;
• 50 XMR for any accepted usability improvement.
Get your reward – get in touch with us.

No, it's too old (despite the misleading version numbers). You're using a version of Monero that is NOT by us and is not up-to-date with the latest changes. Only use versions of Monero linked in the OP or on the website.

Directly, of course. Show me a coin that is even near this ideal, I have a unicorn for sale. I could set up a miner and earn $20 per month, expending only $30 in electricity, except I couldn't (I can't even delete a file). The economies of the coins need people like me so the way to purchase them with existing stored value must always to be available

I argue that the bolded part falls apart in the equation I = N * A, (inflation = number * average), though. Which is a pity:

To have a coin with manageable inflation, the product of the number of individual miners and their average reward must be contained. Therefore there is no incentive for anyone capable to become a miner, and the ones not capable.. well, they cannot.

Technically and economically astute people have a high minimum transaction cost in their life. $20 per month is not enough. The ones who drool over the idea of receiving $20, are not in the position to get even that If they were, the formula above would take it to $2.



See PM.

It isn't the value issue I have with transaction fees, it is the fact that for transaction fees to exceed marginal costs (i.e. to serve as a funding source for proof-of-work), mining has to be monopolized, and then other problems flow from there. I can't believe that is what Satoshi intended.

I know there is a comment or two from him where he considered the whole mining model to be a bit unfinished, so perhaps he just solved what he could and then moved on.

Tx fees are based on the original money supply. (After total coin supply has been mined)

No additional coin production + lost coins etc would cause exactly that deflation in the supply which would cause inflation on the price (value increase).

Edit : Sorry for any syntax errors or wrong wording

Value increase supports a declining nominal reward, and yes that fits with the deflationary model, but transaction fees is something else entirely.

Value increase I would suppose

I think what was meant here was the reward model in bitcoin. The soundness of relying on transaction fees to incentivize mining is doubted by many, including me.

I wish we had more from Satoshi on why he thought that could possibly work, because it seems so crazy that my initial reaction is to assume I'm missing some important point.