Has he met more than three? 
Indeed. Have you met even one?
Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1647. (Read 4670614 times)
Indeed. Have you met even one?
1.15% daily inflation is numerically unsustainable and declines very rapidly, just due to 1.15% more market cap each day (and also the emission decline, thought that is a smaller factor). It will be cut in half in just the next three months, again less than six months later, etc.
Yes, I am aware of this.
Talking about inflation, I'd think I could be of service in the workgroup that designs the XMR inflation rate in the far future when the "initial mining" inflation goes below 1% APR. My credentials are a major in Economics, plus an acclaimed forum member told me I'm among the TOP-3 monetary economists he has met.
Has he met more than three?
I'm sure your input will be most welcome.
1.15% daily inflation is numerically unsustainable and declines very rapidly, just due to 1.15% more market cap each day (and also the emission decline, thought that is a smaller factor). It will be cut in half in just the next three months, again less than six months later, etc.
Yes, I am aware of this.
Talking about inflation, I'd think I could be of service in the workgroup that designs the XMR inflation rate in the far future when the "initial mining" inflation goes below 1% APR. My credentials are a major in Economics, plus an acclaimed forum member told me I'm among the TOP-3 monetary economists he has met.
Payments have been made to the winners of the GUI bounty (a small amount in non-XMR funds remains to be paid).
Please congratulate the winners, and when you have the opportunity to do so, take a look at their excellent work. Each winner contributed useful GUI wallet code that will help move the XMR ecosystem forward.
Details about each of the winning submissions are available on the GUI bounty thread, and some if not all of the GUI wallets also have their own threads.
Announcement of winners: https://bitcointalksearch.org/topic/m.7738735
Announcement of payments: https://bitcointalksearch.org/topic/m.7833251
Please congratulate the winners, and when you have the opportunity to do so, take a look at their excellent work. Each winner contributed useful GUI wallet code that will help move the XMR ecosystem forward.
Details about each of the winning submissions are available on the GUI bounty thread, and some if not all of the GUI wallets also have their own threads.
Announcement of winners: https://bitcointalksearch.org/topic/m.7738735
Announcement of payments: https://bitcointalksearch.org/topic/m.7833251
Good points. What does 10-doubles mean?
I've been using it to mean == "goes up to a value 10 times higher the original value" == +900%.
Maybe I accidentally invented it and it's not in general use
(From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.)
BTC also has daily inflation -- 3600+ BTC/day. That is not peanuts, it is over $2 million/day, almost $1 billion a year that needs to flow into BTC to absorb inflation.
Obviously BTC has more existing holders than XMR and therefore more of them selling, but the effect of those is significant for both. XMR daily mining is around 60 BTC, obviously not 100% of that is sold, yet exchange volume during periods of high activity has been quite a bit more than that, so we are seeing existing coins changing hands there as well. Plus off-exchange transactions of course.
BTC daily inflation is 0.03% of market cap.
XMR's is 1.15%.
That is 1.8 orders of magnitude.
Also BTC will be making thousands of people rich with a life-changing amount of money when it 10-doubles next time.
There is hardly anyone with such large XMR holding (and so little other assets) that the coin's 10-doubling would change her situation at all.
It is important to know these differences between coins, although my position is that the price appreciation curves will still look similar, although the source of the selling pressure is different.
Good points. I'd add though, that 1.15% daily inflation is numerically unsustainable and declines very rapidly, just due to 1.15% more market cap each day (and also the emission decline, though that is a smaller factor). It will be cut in half in just the next three months, again less than six months later, etc.
What does 10-doubles mean?
(From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.)
BTC also has daily inflation -- 3600+ BTC/day. That is not peanuts, it is over $2 million/day, almost $1 billion a year that needs to flow into BTC to absorb inflation.
Obviously BTC has more existing holders than XMR and therefore more of them selling, but the effect of those is significant for both. XMR daily mining is around 60 BTC, obviously not 100% of that is sold, yet exchange volume during periods of high activity has been quite a bit more than that, so we are seeing existing coins changing hands there as well. Plus off-exchange transactions of course.
BTC daily inflation is 0.03% of market cap.
XMR's is 1.15%.
That is 1.8 orders of magnitude.
Also BTC will be making thousands of people rich with a life-changing amount of money when it 10-doubles next time.
There is hardly anyone with such large XMR holding (and so little other assets) that the coin's 10-doubling would change her situation at all.
It is important to know these differences between coins, although my position is that the price appreciation curves will still look similar, although the source of the selling pressure is different.
the best is this:
- buy 51%
- sell 51%
- change your client to not accept new blocks and only build your own chain beginning at the time where you had 51%
- wait...
obviously its simplyfied (also depends on the implementation)...but as always with basic logic flaws: you cant solve it buy building on top of it...
but i guess you get the point... need a beer now... germany WON!!!!
- buy 51%
- sell 51%
- change your client to not accept new blocks and only build your own chain beginning at the time where you had 51%
- wait...
obviously its simplyfied (also depends on the implementation)...but as always with basic logic flaws: you cant solve it buy building on top of it...
but i guess you get the point... need a beer now... germany WON!!!!
It's very strong assertion. But I am not technical specialist. Can somebody confirm this on all PoS coins?
I did not know this fundamental fact - PoS coins are more vulnerable than PoW ones. Althoug PoSes are brandished as 51% attack-resistant despite!
First 6 char of your wallet address.
Oh! Thanks!
Show's how often I pay attention to the characters instead of copying and pasting
Have some funny satire .. made me laugh at least.
I lol'd. Its funny to get a peek at us through their eyes.
First 6 char of your wallet address.
Oh! Thanks!
Show's how often I pay attention to the characters instead of copying and pasting
Have some funny satire .. made me laugh at least.
The altcoin market is still reeling from the December highs. This may be a transient bump up or a stable base. Only time will tell.
It seems we now know where the "bottom" is, I'm buying all XMR I can, for the long term we need to acquire patience 
i joined the believers a couple weeks ago. at that time people were thinking it was pretty darn low. we've dropped a lot since. do you think this new low is the real low because of that 100BTC support? or other reason.
hope youre right. i'd love to buy more and bring down my avg cost. but i'm short on bitcoin :/
Hey I've got a technical question I don't think I've asked before:
When I open my wallet it says:
I changed the 6 characters here, but what are those?
When I open my wallet it says:
Code:
[wallet abcdef]:
I changed the 6 characters here, but what are those?
First 6 char of your wallet address.
(From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.)
BTC also has daily inflation -- 3600+ BTC/day. That is not peanuts, it is over $2 million/day, almost $1 billion a year that needs to flow into BTC to absorb inflation.
Obviously BTC has more existing holders than XMR and therefore more of them selling, but the effect of those is significant for both. XMR daily mining is around 60 BTC, obviously not 100% of that is sold, yet exchange volume during periods of high activity has been quite a bit more than that, so we are seeing existing coins changing hands there as well. Plus off-exchange transactions of course.
over $2 million/day, almost $1 billion a year is nothing for the whole world..this is the internet..
there is still plenty of area to grow, like this.. www.coindesk.com/philippines-startups-fulfil-bitcoins-remittance-promise/
Ty that is where I am. Listen from 33:40 min point (very articulate filipino).
I will hook up with those guys.
Hey I've got a technical question I don't think I've asked before:
When I open my wallet it says:
I changed the 6 characters here, but what are those?
When I open my wallet it says:
Code:
[wallet abcdef]:
I changed the 6 characters here, but what are those?
It seems we now know where the "bottom" is, I'm buying all XMR I can, for the long term we need to acquire patience
I doubled down. I wish i had it in me to triple down. But i don’t.
I've seen that difficulty chart, doesnt show any instamine..., EC2 is only for very short periods of time. and GPU:CPU is 1:1 ratio, so he couldnt have made much..
Boolberry's private gpu miner guy was making 5-7k boolberry per day....hes still making over 2k boolberry per day...his instamine is in the hundreds of thousands unfortunately with boolberry.
Boolberry's private gpu miner guy was making 5-7k boolberry per day....hes still making over 2k boolberry per day...his instamine is in the hundreds of thousands unfortunately with boolberry.
Please stop lying! These posts below have been mentioned several times, but you still ignore it.
we're mining 5000-7000 coins a day
by the way the quoted mining number was from earlier days when the difficulty was in the 60-80G range. I think it has tripled since.
A lot more actors are in the cloud mining game now it seems.
That wall could be eaten any time. Yesterday 43 BTC buy wall at 0.002+ was destroyed in a single sale and i guess the dumper is probably Christian. His team is mining roughly 50% of newly minted BBR each day with his private GPU mining script. If he is happy to dump at 0.002, there is a chance he will continue to dump at 0.0016. He will keep doing so as long as he still make profit.
Not us. We're seldom holding more than 10000 BBR at a time. Also we're not interested in crashing the price (should be obvious).
Also note the majority of our BBR mining is actually CPU. The GPUs on EC2 aren't actually all that powerful.
The biggest sell order I've seen thus far was for 47000 BBR, but it wasn't executed while I watched. But it shows how many coins some people have amassed in their wallets. Probably whales with lots of BTC who bought in early and cheaply. I suspect one of these whales cashed out part of their holdings, destroying that buy wall yesterday. We were amazed like everyone else.
Christian
so low!! 
What's so low? Coin and network look damn strong to me.
so low!!
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