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Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1655. (Read 4670972 times)

legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
Who wants to volunteer to be our DPR? Cheesy

I think there are already plenty of DPRs.  We just lack the software required to serve that market. I suspect that when a GUI wallet is available and stable, then XMR will rapidly become a primary denomination for those markets, but not until then.  If I were selling counterfeit Euros over the Internet, my preferences would be XMR > DRK > BTC, with no fourth option.  Most dark market sellers probably would be better served by restricting the list to XMR only, but absent a nice GUI wallet, the number of buyers would tend to zero right now.

More arrests of BTC users would help a lot, although by now they are common enough not to be newsworthy.  It's sort of inevitable.


kbm
member
Activity: 84
Merit: 10
I will pose - re-post - this question here, where it might get more feedback:

Why would anyone mine XMR for profit now when you can mine QuazarCoin, cash it in, and buy 30% more XMR than you can get from mining?  For that matter, Vertcoin should get you about 100% better return (GPU basis). The only rational reason to mine XMR now is because you want to help build the network - or you are just too lazy to switch coins.  

Can anyone make a rational argument against this claim:  The current hash power is almost 100% enthusiasts, who mine because of confidence, support for XMR.  (They are not  likely to be sellers.)  It makes no sense at all for any botnet to mine XMR for sale.

(Yet the current hash rate is roughly 85% of the historical high.  The depth of support this demonstrates is breathtaking.)

Last month I remember posting in IRC, around the time of the ATL that I expected 14-18M# before the end of the month (not far off). I'll try to remember the steps I took to predict that, pretty sure I put the info in a note file somewhere.

I can't currently make a rational argument against the claim though.
legendary
Activity: 2968
Merit: 1198
Hmm, im sure most miners dont know they could mine vertcoin for example and get more btc that way, then buy xmr.
I sure as hell didnt  Tongue

Most people have no clue about that stuff.

That falls squarely within the described enthusiast category. If you are a large scale miner running a major operation, it is your business to know these things.

It seems plausible and consistent with the evidence that XMR has attracted and retained a large base of small scale hobby/enthusiast/casual miners for whom their individual level of mining income isn't enough to warrant frequent monitoring and short term optimizing (i.e. constantly jumping around to each day's most profitable coin). They are happy to simply be mining a coin they perceive to have a bright future.

Combined, the number of people who have posted here about problems with pool dust (indicative of a small hash rate prior to the pool software fix) and solo mining in the wallet is small but significant. Since the vast majority of people who do anything never post about it, it is likely the number of people doing this is quite large. I have no basis to estimate a number though.

This is exactly the opposite of what the "its all botnets" (previously "its all cloud miners" and "its all secret optimized miners") anti-XMR FUDsters and sock puppets are constantly repeating.



legendary
Activity: 1722
Merit: 1217
Can we stop the whole bullshit about price swings and start thinking and talking about more constructive stuffs??
For example: what is a good strategy for expanding the marketplace and increasing the network effect here?

+1

Build applications.

Use your imagination. Okay maybe you (not you personally) have no imagination. Look at the first few successful applications for bitcoin and build those.

Right now we have ZERO applications. Anything would be an improvement.


Who wants to volunteer to be our DPR? Cheesy
legendary
Activity: 2296
Merit: 1031
I will pose - re-post - this question here, where it might get more feedback:

Why would anyone mine XMR for profit now when you can mine QuazarCoin, cash it in, and buy 30% more XMR than you can get from mining?  For that matter, Vertcoin should get you about 100% better return (GPU basis). The only rational reason to mine XMR now is because you want to help build the network - or you are just too lazy to switch coins.  

Can anyone make a rational argument against this claim:  The current hash power is almost 100% enthusiasts, who mine because of confidence, support for XMR.  (They are not  likely to be sellers.)  It makes no sense at all for any botnet to mine XMR for sale.

(Yet the current hash rate is roughly 85% of the historical high.  The depth of support this demonstrates is breathtaking.)



It's just economic stupidity to waste resources on less profit when you can be more efficient and stack profits.
hero member
Activity: 770
Merit: 500
I will pose - re-post - this question here, where it might get more feedback:

Why would anyone mine XMR for profit now when you can mine QuazarCoin, cash it in, and buy 30% more XMR than you can get from mining?  For that matter, Vertcoin should get you about 100% better return (GPU basis). The only rational reason to mine XMR now is because you want to help build the network - or you are just too lazy to switch coins.  

Can anyone make a rational argument against this claim:  The current hash power is almost 100% enthusiasts, who mine because of confidence, support for XMR.  (They are not  likely to be sellers.)  It makes no sense at all for any botnet to mine XMR for sale.

(Yet the current hash rate is roughly 85% of the historical high.  The depth of support this demonstrates is breathtaking.)



Hmm, im sure most miners dont know they could mine vertcoin for example and get more btc that way, then buy xmr.
I sure as hell didnt  Tongue

Most people have no clue about that stuff.
legendary
Activity: 2296
Merit: 1031
It seems to me that Monero has been the ruler of cryptonight but that eminence is waning as more cryptonight coins deploy.  This makes it appear as though there is really nothing so special about Monero and that any secure and functional cryptonight deployment has just as much utility as Monero.  

The only thing that can really change that are significant events such as greater market share but so far that isn't happening either.  If the current path continues, I wouldn't be surprised to see continued erosion of Monero and expansion of other cryptonight coins as their devs make deals that generate business revenues.  

Of course, this is all speculation and Monero could be terribly undervalued based on deals yet to be seen.  Then again, the same could be said about any of the cryptonight coins right now.
member
Activity: 104
Merit: 10
where is dev right now?
say something!
Do some acture  work.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
I will pose - re-post - this question here, where it might get more feedback:

Why would anyone mine XMR for profit now when you can mine QuazarCoin, cash it in, and buy 30% more XMR than you can get from mining?  For that matter, Vertcoin should get you about 100% better return (GPU basis). The only rational reason to mine XMR now is because you want to help build the network - or you are just too lazy to switch coins.  

Can anyone make a rational argument against this claim:  The current hash power is almost 100% enthusiasts, who mine because of confidence, support for XMR.  (They are not  likely to be sellers.)  It makes no sense at all for any botnet to mine XMR for sale.

(Yet the current hash rate is roughly 85% of the historical high.  The depth of support this demonstrates is breathtaking.)

legendary
Activity: 1624
Merit: 1008
I see 3 potential ways:
1- Offering monero to established merchants, resellers.. as a medium of exchange.
2- Making new businesses and apps to let people buy and spent monero, like a poker site, an auction marketplace.. this is a must for any new coin and each of us who is mighty at this, should start..
3- Engaging monero to btc payment points in someway (maybe something similar to veribit could work well.

Not necessary to mention that options 2 and 3 can bring a good revenue for the one who would try first to run them Wink

anything but gamble! it makes everyone lose but the house, not like I can stop them come to existence but just remember, never gamble, its a mental disease, and there a reason casinos are illegal in many places, the internet is already full of sad histories involving compulsive gamblers and bitcoin.

He didn't say casino he said poker.  The house charges a fee, aka rake, but you don't play against the house you play against other players.  Your decisions matter in poker so you can affect the outcome and it's possible to affect it enough to profit even after paying the rake.

The % of problem gamblers is small and the damage done is not as great as what can result from problem drinking.  Do you think we should allow buying of alcohol?

ETA:  The problem in starting a Monero poker site is that you need a significant player base to enable games to consistently run.  There are several btc poker sites but only one that has any significant traffic.

legendary
Activity: 2968
Merit: 1198
The Global Police State

Please limit discussion on this thread to comments or questions about Monero. 
hero member
Activity: 672
Merit: 500
I see 3 potential ways:
1- Offering monero to established merchants, resellers.. as a medium of exchange.
2- Making new businesses and apps to let people buy and spent monero, like a poker site, an auction marketplace.. this is a must for any new coin and each of us who is mighty at this, should start..
3- Engaging monero to btc payment points in someway (maybe something similar to veribit could work well.

Not necessary to mention that options 2 and 3 can bring a good revenue for the one who would try first to run them Wink
hero member
Activity: 518
Merit: 521
The Global Police State

Global sovereign debt collapse (which means global wealth confiscation, war, chaos, and descending into the economic abyss).\

So ...are you really saying this will ruin every corner of the globe? if not then what portions are you talking about?
It's just that you keep mentioning Europe and America...but that's all you mention but you keep calling it "global".

So...is it global or is it just Europe and the USA?

The nations of the world are today mostly divided into five categories:

1. Developed country western Marxist socialism, government has 75% share of GDP (ditto Europe but worse as the official data excludes cost of regulation and probably local governments, etc!).

2. Developed country eastern Chaebol & Zaibatsu fascism, government has a moderate (but rising rapidly) (Korea also) % share of GDP.

3. Undeveloped world, "government spending" is very low thus a very low % share of GDP because there is no social welfare system.

4. Oil producing countries in the Middle East that will fall into complete chaos.

5. Exceptions.

For #1, include North America, Europe, New Zealand, but perhaps not Australia.

For #2, we have Japan with the world's highest debt-to-GDP levels as the prime example. Asians (but not Cherokee who descend from European not Asian) are more submissive (my hypothesis is perhaps due to lack of Ice Age impact thus larger populations). Japan has an existential fertility crisis. South Korea is on model peaking.



For #3, we have most of the rest of world.

For #4, include all those recently failed Middle East states and Libya and include all those whose economy is nearly entirely dependent on oil and who have burgeoning populations.

For #5, the exceptions to the above list include small transhipment and financial centers such as Hong Kong and Singapore, also Australia and Switzerland have relatively low government share of GDP for developed countries.

Prognosis

The #1 nations will hunt down all wealth to feed their social welfare obligations. The majority will support this. These nations will cooperate, and the NSA + GCHQ will feed the authorities the data they need.

The #2 nations have massive levels of debt in all sectors and will be induced into a war with China to appease the discontent among their people as their economies collapse into 2016 - 2020. The large corporation model of their economies is attuned to war making as a means of increasing industrial production.

The #3 nations have extremely high levels of corporate debt (China the world's highest) because the 30 year bond bubble in the #1 nations drove investment capital out of the west an into developing world corporate bonds to chase yield. They don't have this social welfare system to feed, thus they don't need to hunt down money for revenue (they can let their corporations go bust and survival of the fittest) so they can collapse quickly and bottom by say 2020. But they will hunt down wealth of those cronies in their governments who have pilfered the coffers. You can see this going on now for example as China fired 900 bureaucrats, Thailand in martial law,  and also the pork barrel scandal ongoing in the Philippines. So these nations need the cooperation of the #1 nations to track down and return the ill gotten wealth their cronies have been offshoring to there. Thus they will in exchange will offer to turn over all #1 nation citizens, i.e. see their cooperation with the FATCA.

The #4 nations are imploding into chaos as they are too dependent on oil, their populations are burgeoning, the corrupt top-down control of wealth has been egregious, etc.. They will implode into complete chaos. They thus may be the best place to hide with your wealth, except that you would be at enormous physical risk of harm.

The #5 nations will see their economies implode when the global economy does since they are so highly leveraged to trade and commodity demand. They are fully on board the global police state. Here are few links to convince you:

http://www.zerohedge.com/news/2014-03-26/hong-kong-goes-swiss-will-disclose-american-worker-financial-data-irs
http://armstrongeconomics.com/2014/06/22/hunt-for-money-tisa-negotiations-leaked-by-wikileaks/


Thus you can see this hunt for wealth will be global. Only the peons in the undeveloping (developing) world are exempt.

Edit: I didn't cover some exceptions that may not fit (not sure as I don't have time to research every one) the above stereotypes, such as Iceland, Bolivia, and Ecuador. Two of those were countries Snowden was interested in for asylum.
hero member
Activity: 658
Merit: 500
Admin of DwarfPool.com
Some users try to mine to the exchange address on DwarfPool with wrong command line.

Please use as username the following line:

Code:
-u EXCHANGE-WALLET.PERSONAL-PAYMENT-ID.777 -p [email protected]

First, EXCHANGE-WALLET, next your personal Payment-ID getting by exhange, and only after that rig-id if needed.
Mining logins with the exchange wallet without personal-id will be rejected.

The possible combinationen of username in miner for the exchange-address are the following:

EXCHANGE-WALLET.PERSONAL-PAYMENT-ID.777
EXCHANGE-WALLET.PERSONAL-PAYMENT-ID


These logins will be rejected:

EXCHANGE-WALLET.777
EXCHANGE-WALLET


Common use with mining to your wallet:

YOUR-WALLET.777
YOUR-WALLET


As an example, mining to mintpal for rig #5:

Code:
46aaTzGffy6MmCsY7rQ5CdSAbpPHPj5xkf7yDdfDZSs9YWWEvFhSSkjdr2veqC44q8dt3q1egrLdnZ3oecB1JSMF856eDwb.9ywwevfhsskjdr2veqc44q8dt3q1egrldnz3oecb9ywwevfhsskjdr27632a8956.5

Some changes on the pool, if you mine to an exchange, then payment will be from 1 XMR, to your wallet from 0.1 XMR

http://dwarfpool.com/xmr

kbm
member
Activity: 84
Merit: 10
+1

Build applications.

Use your imagination. Okay maybe you (not you personally) have no imagination. Look at the first few successful applications for bitcoin and build those.

Right now we have ZERO applications. Anything would be an improvement.

I'm still looking for news on potential gambling applications. Does anyone have ones they like/know are popular?

I know statdude mentioned I should keep an eye out, but that won't stop me from contacting these people anyways Smiley

All anyone has to do is list them and I'll track them down!
legendary
Activity: 2968
Merit: 1198
Can we stop the whole bullshit about price swings and start thinking and talking about more constructive stuffs??
For example: what is a good strategy for expanding the marketplace and increasing the network effect here?

+1

Build applications.

Use your imagination. Okay maybe you (not you personally) have no imagination. Look at the first few successful applications for bitcoin and build those.

Right now we have ZERO applications. Anything would be an improvement.


hero member
Activity: 770
Merit: 500
Every single troll on this thread...has one thing in common.

They're all Newbies with 10 posts and below. Some being just registered.

AKA

they're sockpuppet accounts.
member
Activity: 75
Merit: 10
Can we stop the whole bullshit about price swings and start thinking and talking about more constructive stuffs??
For example: what is a good strategy for expanding the marketplace and increasing the network effect here?


Hello Reason, funny seeing you here.
+1
newbie
Activity: 5
Merit: 0
It's dead Jim!
Look at all those dumps! Someone buys 7, then someone dumps 700!
Whale unloading his bag?

You realize that every time someone buys 7 it means someone else is selling 7 and someone selling 700 means someone else is buying 700? 100% of the time.

Try again with some valid logic.

When I said buy = buy at the asks,
And DUMP = dump at the buy orders!

And this matters why? I have traded on exchanges and I have often placed sell orders (i.e. the ask) when I wanted to sell reduce my holdings (but not necessarily at this immediate second) or placed buy orders when I wanted to buy.

You have a warped view of how exchanges work where market orders are somehow more important or more real than listed orders. That is false.

Not sure what your babbling about..  Roll Eyes
I'm sure normal people got the message when I said that.. The dumps are causing the price to go down.

The dumps and the price going down are exactly the same thing

If someone dumps 10xmr on a 1k buy order? What happens? Price go down? LOL!

My point is, dumping force is greater than the buying force, and the price is going down.

Every single troll on this thread...has one thing in common.

They're all Newbies with 10 posts and below. Some being just registered.

AKA

they're sockpuppet accounts.
Yup. And you are? A 112 activity level member who has nothing to say but judge a member based on his activity level.
And where are you? On monero thread talking about a newbie with a low activity level

Oh, and what about the newbie? What is he saying?
He's on monero thread talking about monero and what he has observed from the monero price


------------------
They're all dead Jim!
They're no match for Neo
http://www.cyberpunkreview.com/images/matrixreloaded12.jpg
hero member
Activity: 672
Merit: 500
Can we stop the whole bullshit about price swings and start thinking and talking about more constructive stuffs??
For example: what is a good strategy for expanding the marketplace and increasing the network effect here?
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