[XMR] Monero - A secure, private, untraceable cryptocurrency - page 1635.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: HardwarePal on July 16, 2014, 03:41:43 AM

Quote from: smooth on July 16, 2014, 03:40:38 AM

Quote from: rpietila on July 16, 2014, 03:26:48 AM

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Gold is well approved, and its inflation has stayed at about 0%-2% for millennia

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.

Value increase I would suppose

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

HardwarePal

hero member

Activity: 565

Merit: 500

Quote from: smooth on July 16, 2014, 03:40:38 AM

Quote from: rpietila on July 16, 2014, 03:26:48 AM

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Gold is well approved, and its inflation has stayed at about 0%-2% for millennia

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.

Value increase I would suppose

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: rpietila on July 16, 2014, 03:26:48 AM

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Gold is well approved, and its inflation has stayed at about 0%-2% for millennia

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.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Gold is well approved, and its inflation has stayed at about 0%-2% for millennia

Since antiquity, the amount of gold has roughly gone up 100x. This is equal to 0.23% average APR.

I will continue in the Monero economics thread.

HardwarePal

hero member

Activity: 565

Merit: 500

Quote from: Johnny Mnemonic on July 16, 2014, 03:11:23 AM

Quote from: HardwarePal on July 16, 2014, 02:20:31 AM

Quote from: Anon136 on July 16, 2014, 01:23:40 AM

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Definitely not wise to rock the boat.

Perpetual inflation - a death sentence.

I live in Cyprus btw. Roll Eyes

Feel free to explain yourself. We need some type of inflation to keep transaction fees from escalating. I prefer a fixed percentage inflation, and have argued my reasons plenty here and in the economy thread. It solves a number of problems.

That is a very tricky question.

Is Monero a :
a) store of value
b) medium of exchange
c) both

Johnny Mnemonic

hero member

Activity: 795

Merit: 514

Quote from: HardwarePal on July 16, 2014, 02:20:31 AM

Quote from: Anon136 on July 16, 2014, 01:23:40 AM

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Definitely not wise to rock the boat.

Perpetual inflation - a death sentence.

I live in Cyprus btw. Roll Eyes

Feel free to explain yourself. We need some type of inflation to keep transaction fees from escalating. I prefer a fixed percentage inflation, and have argued my reasons plenty here and in the economy thread. It solves a number of problems.

lordoliver

legendary

Activity: 1666

Merit: 1020

expect(brain).toHaveBeenUsed()

Quote from: equipoise on July 16, 2014, 03:08:05 AM

^It's not in the blockchain. Did you sent it with the current version from the OP? If you are using two months old version it's not sent with the right fee.

this is now the third question...

bitmonero wallet v0.8.9.65()
[wallet 48x3TT]: transfer 0

0.5 bd293b224aae610835121bd2b0b5887e45ada62da4ff3467bfc3f65a42652d21
Money successfully sent, transaction <8baa3bc1d4d98a3c83c5d8872ab26152a280115d8f77823a76333ff6e50463f4>
[wallet 48x3TT]: refresh
Starting refresh...
Refresh done, blocks received: 502
balance: 863.279174920000, unlocked balance: 862.932625920000

is the version too new?

equipoise

hero member

Activity: 794

Merit: 1000

Monero (XMR) - secure, private, untraceable

^It's not in the blockchain. Did you sent it with the current version from the OP? If you are using two months old version it's not sent with the right fee.

lordoliver

legendary

Activity: 1666

Merit: 1020

expect(brain).toHaveBeenUsed()

Quote from: phzi on July 16, 2014, 02:51:45 AM

Quote from: lordoliver on July 16, 2014, 02:49:57 AM

Quote from: equipoise on July 16, 2014, 02:47:29 AM

^About what?

its still not sent but locked.

Wait a while. Sometimes spends can take a bit. I've had to wait up to an hour for a large (in bytes) transaction to confirm when the network was busy.

I waited for 500 blocks since a lot of hours already...

phzi

hero member

Activity: 700

Merit: 500

Quote from: lordoliver on July 16, 2014, 02:49:57 AM

Quote from: equipoise on July 16, 2014, 02:47:29 AM

^About what?

its still not sent but locked.

Wait a while. Sometimes spends can take a bit. I've had to wait up to an hour for a large (in bytes) transaction to confirm when the network was busy.

lordoliver

legendary

Activity: 1666

Merit: 1020

expect(brain).toHaveBeenUsed()

Quote from: equipoise on July 16, 2014, 02:47:29 AM

^About what?

its still not sent but locked.

equipoise

hero member

Activity: 794

Merit: 1000

Monero (XMR) - secure, private, untraceable

^About what?

lordoliver

legendary

Activity: 1666

Merit: 1020

expect(brain).toHaveBeenUsed()

Code:

bitmonero wallet v0.8.9.65()
[wallet 48x3TT]: transfer 0

0.5 bd293b224aae610835121bd2b0b5887e45ada62da4ff3467bfc3f65a42652d21
Money successfully sent, transaction <8baa3bc1d4d98a3c83c5d8872ab26152a280115d8f77823a76333ff6e50463f4>
[wallet 48x3TT]: refresh
Starting refresh...
Refresh done, blocks received: 502
balance: 863.279174920000, unlocked balance: 862.932625920000

what can I do?

HardwarePal

hero member

Activity: 565

Merit: 500

Quote from: Anon136 on July 16, 2014, 01:23:40 AM

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Definitely not wise to rock the boat.

Perpetual inflation - a death sentence.

I live in Cyprus btw. Roll Eyes

HardwarePal

hero member

Activity: 565

Merit: 500

Quote from: AnonyMint on July 16, 2014, 01:42:38 AM

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Nekomata, Tx fees are the kiss of death. Please do them. Kiss

(so much for your blah, blah)

Quote from: Anon136 on July 16, 2014, 01:23:40 AM

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Yes please don't differentiate yourself from Bitcoin. And who are you targeting anyway with your mining client, the nimcompoops here or the masses?

Explain why TX's are worse than a fixed 1% for example or fixed block reward.

Imo :

1. TX's are bad as they will be low reward (unless the coin is high priced) + might lead to centralization , but if the coin goes mainstream will be alot more worthwhile when coins are moving around.

2. % Inflation is only favorably if its the same rate as lost coins ( to small a sample size in cryptos to predict what the real rate is)

3. Fixed Block reward is a somewhat hard one to nail as theres no correct formula you can derive even if your the best mathematician in the world. (only close estimates)

If you look at Bitcoin as an example people dont even ROI on their hardware but still mine instead of just buying coins.

I prefer TX's to be honest as its the best investment wise (no inflation that would cause older coins to depreciate)

cAPSLOCK

legendary

Activity: 3766

Merit: 5146

Note the unconventional cAPITALIZATION!

Quote from: AnonyMint on July 16, 2014, 01:48:16 AM

If you just want cheer leading, I will leave. (and I think that is best. Bye)

Oh goody. My favorite part is when you leave over and over again. Wink

I really do like you SM III. You know you and I may be related. Are any of your ancestors from the Appalachians?

AnonyMint

hero member

Activity: 518

Merit: 521

Quote from: ?? on ??

...Sr. Member with fancy talks pushing it to the cliff sideways

I am not pushing it any direction. It speaks for itself. I am speaking my understanding of the facts. I am trying to influence the design to do what I analyze to be best. And everyone here is free to present counter-logic.

If you just want cheer leading, I will leave. (and I think that is best. Bye)

devphp

sr. member

Activity: 336

Merit: 260

Quote from: ?? on ??

Thats because you also promote NXT, a know scam, you don't know better. Dogecoin devs backstabbed the community when they decided not fix a bug in the code that would make doge be minted forever at a fixed rate (10k). Doge will never overtake anything anymore, it was put down, by their own developers that became blind with their 15min of fame, those who are not bound by commitment with lines of code on 3rd-party hands will dump everything and wait for the next sane project to rise and invest again.

It's all your personal opinion. I don't consider that a bug, and you are free to consider anything a scam.

AnonyMint

hero member

Activity: 518

Merit: 521

Quote from: superresistant on July 16, 2014, 01:15:46 AM

Quote from: ?? on ??

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Nekomata, Tx fees are the kiss of death. Please do them. Kiss

(so much for your blah, blah)

Quote from: Anon136 on July 16, 2014, 01:23:40 AM

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Yes please don't differentiate yourself from Bitcoin. And who are you targeting anyway with your mining client, the nimcompoops here or the masses?

AnonyMint

hero member

Activity: 518

Merit: 521

Quote from: Anon136 on July 16, 2014, 01:02:59 AM

Quote from: AnonyMint on July 16, 2014, 12:41:00 AM

Quote from: Anon136 on July 15, 2014, 11:59:49 PM

Thanks. You are annoying and pretentious but you aren't dumb. I'll have to take some time to digest this.

When I am trying to win over the affection a lot of people, it won't be with words. I have a couple of 1 million user software accomplishments in my resume already.

Comments like these are exactly the reason why you annoy me so much. Why can't you just rely on your arguments instead of appealing to authority. Who the he'll cares how many people used your software. Good arguments aren't made bad if no people used your software and bad arguments art made good if a billion people used your software. No one cares how wonderful you think you are.

My gosh you an expert at inciting noise! You are the one who personalized the issue and caused me to defend my person. If you will stay on the facts, I will too.

Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1635. (Read 4671975 times)