Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1651. (Read 4670972 times)

What kind of opinions do you have of the 18.4 million targeted compared to any other power of ten number like 184 million/1.84 billion/18.4 billion etc .. ?

Do you think the 12 decimal place denomination would be taken into account when compared to the max coins, or would this just be a visual thing?

Exchanges limit the usage to 8 decimal places, when there's 12 in the wallet.

Clearly total coins in the millions seems to be favored in any coin (save for PoS currencies .. which tend to favor higher total supply, giving them an immediate top ten market cap) .. but I'm not sure if this is because bitcoin has similar parameters, or if that's just a good amount in general to have .. not too much but not too little.

The cross comparison between the two seems to indicate that the major reason total supply around 20-50 million seems to be favored is because bitcoin also has that same setup.

Two years is an eternity for a quick pump and dump scheme. For a useful piece of open source technology with a real future with widespread adoption, two years is not a long time at all. The dev team for this coin is betting on the latter proposition. If you are looking for the former, you are in the wrong place.

I am of the opinion that the shape of the curve doesn't really matter, within reason (instamines and premines excluded). What matters more is the total supply. More issuance earlier causes greater immediate dilution, but it also means you are buying into a coin with lower future issuance. Slower issuance earlier means more issuance later. These effects offset each other to a large extent, if not entirely.

I'm at a loss as to what you think that chart shows. The difficulty started lower, then increased later as adoption (at least adoption of mining) increased, just like almost every other coin in existence.

dga is right, neither coin had an instamine at all, because the difficulty adjustment algorithm (both use the same one) works pretty well, preventing a large number of coins from being mined in a short period of time.

This is a more informative chart: http://monerochain.info/charts/blocktime

There was never a time when the block time fell much below the target because a huge amount of mining was brought online before the difficulty could adjust. In fact at the very beginning the block time was much higher than the target (so fewer coins were being mined, not more), although I'm not sure why would have happened (it could be an error in the chart calculation).

Good point. Volume. Had not been taking that into consideration for botnets. I had only been taking it into consideration for miners. Stupidly I didn't link the two, and you have helped here. Thanks!

Though we're dealing with enough misinformation as it is .. I don't think anyone participating in that conversation was trying to spread misinformation. Lack of information, and then sharing that one does not have an answer for a question is not the same as misinformation, I'm just venting about a bigger issue that seems to be along the lines of "well if you posted 'x' on the internet, you clearly thought it was 100% true forever .. so because you're wrong about 'x' means you have an alternative agenda". People need to stop looking into things so hard. Sometimes folks (in this case myself) are just plain wrong. Fortunately, in this case I believe you've fixed that.

Moving on, yes .. a market capable of absorbing mined coins from a botnet of stolen computers would be something to wish for. Less headaches in trying to change parameters/coins. A 'sure thing', regardless of the daily price. I both like and hate your point

Monero hatership is also reminiscent to Bitcoin's. That also tells a lot if you want to understand:

Hating something does not pay you, so why would you do it? - Not unless you are paid

Because its going to bounce at any point and you wanna be on that train 

Correct.  The term instamine does not apply to either BBR or XMR.

The real "instamines" are when you have, e.g., broken difficulty adjustment algorithms that allow a significant fraction of the coin to be mined before others are aware it exists.

e.g., the quote about Darkcoin, "That means in less than 8 hours, almost 5% of the Darkcoins that ever will be created spawned in that 1/3 of a day." (source:  http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins#darkcoin  ).  An instamine is a violation of the advertised or planned emission rate for the coin.

In contrast, what happened with both XMR and BBR is closer to what happened to Bitcoin:  The initial distribution of mining hashrate was uneven, and several individuals were able to mine at a cost advantage relative to others, when they used a technological advantage to do so.  This happens to most coins, and evens out over time.  Heck - for the first few weeks of XMR, almost nobody knew it existed, and all of those early adopters probably got in at a great price.

There's a huge difference:  I believe Tacotime and Zoidberg more than I believe the Darkcoin story, because in neither of these cases, as far as we know, did the people responsible for the coin lie about what was going on and/or profit.  An instamine or secret pre-mine, on the other hand, suggests that either the developer is incompetent, or dishonest.

I'm not sure what I'd call BCN, because it depends whether you believe that it existed "in the shadows" for two years, or whether the developers used the deliberately slowed down miner to fake two years of a blockchain in less time.  I personally believe the latter, but I have no concrete evidence of it, just a hunch based upon how slowed the mining process was.

cbuchner1 is right:  Coins *should* be released with fast CPU and GPU miners in the future, because when a coin with a new PoW is released, we already know exactly what will happen...

I must be a masochist or something. Why do I keep going to poloniex to look at the price?

this... is not news

im interested in alts - can't put my finger on why exactly.  its the wild west and all a bit crazy.  i actually DO take the long term outlook.  ive put a few BTC into XMR and some others (including some IPOs).  i've made a promise to myself to wait a MINIMUM of 12 months before consider if i'm going to sell any of them.   sure, you could probably get lucky and make a few bucks trading a young coin, but the only real growth is likely over the course of years (like btc)

hodl your altcoins.

People must like scam coins and we must be living in the age of the alt coins if people can't wait a couple years for the natural economy of a coin to play out.

People want a honest and fair launch like XMR but they don't want to wait the 4 year for the mass majority of the coins to be emitted and yet complain of pre-mine, instamine, IPO scams.

People must want scam pump and dump coins because they don't want to wait the years for a coin to develop and yet complain when 50 new scam coins are created every day.

The only conclusion is people are stupid and irrational.

in case xmr starts to fly?

Keep some powder dry.

i picked up about 5BTC worth of XMR in the 0038-0042 range.

should i go in the corner and cry?  or hold my head up high?

It looks like some botnets or EC2 miners have stopped.

That was the time it hit poloniex and ec2 mining was really profitable...
Claymore miners is slower than a large ec2 instance and way harder to scale up.

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.

There was no instamine;
http://monerochain.info/charts/coins

Instamine implies massive inflation in the beginning where a small group of individuals gets all the coins. Inflation is still so high that anyone is welcome to bring miners on the network and get paid large amounts of XMR.

The hash rate is going down, is this the miner going away or botnets are moving on ?

Monero had more of an instamine than Boolberry, just see http://monerochain.info/charts/difficulty. Claymore likely mined with his GPU miner before he released it with a 5% fee. cbuchner1 also has mined Monero with a private gpu miner on EC2.

Basically, coming from a purely investors perspective.

Monero is the only cryptonote worth investing/buying.

Boolberry's instamine is pretty bad with the PGPU making over 2k boolberry(difficulty dropped) per day now, and was making 5k-7k bbr everyday a few weeks ago....Plus Botnets.. = No thank you

Ducknote reminds me of Dogecoin, there dev is nonexistent, and doesn't really have any work being done

Quazarcoin doesnt really have much work being done either

So that leaves Monero, the only one that has a future..