Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1795. (Read 4670972 times)

Quote from: Stevenrm87 on June 17, 2014, 02:10:21 PM

I am the masses. I'm interested i'm Monero due to the involvement of people I respect. I have no computer skills. My new computer is windows 8.1 with a pentium chip Embarrassed

so I wont be mining.

You NEED to start mining. Don:t use a pool. Just be patient.

As you suggested and after some head scratching I set up and started to mine solo and now realize that at my current hr and difficulty the avg time to find a block is 300 days.

Maybe we have a different definition of patience. Grin

Excellent. You are now an infrastructure operator. In roughly 300 days, if you are patient, you will be rewarded with enough monero so that, if xmr denominates merely half of all black market transactions with typical velocity 10 years from now, you will be able to buy a nice, modest house in a pleasant town about an hour' s drive from an airport - or you could send one child to harvard. Actually difficulty will rise meanwhile, so it might take two years or so. Now you understand the value of an xmr better, and can decide whether to burn some fiat on a much better rational and informed basis. Meanwhile, as an xmr holder, your mining is benefitting yourself by increasing the value of your xmr.

When I urged you to solomine difficulty was lower and I assumed your hash rate was higher. Nonetheless, the experience and understanding gained are likely to serve you well, and a shot at a block reward surely won't hurt. But best of all would be if the experience taught you not to take advice from strangers on the Internet.

I am quoting this to look back in two years Cheesy

i'm pretty sure it will still be a bad idea to take advice from strangers on in the internet.

mindless

member

Activity: 94

Merit: 10

Fellow, Miners,

We have some important information:
http://pool.cryptoescrow.eu
2014.06.17 20:30GMT: Moving to a new DDOS protected server
Pool stats can get very crazy - Dont Worry
Point your miners to:
stratum+tcp://5.254.116.138:3333 or
stratum+tcp://mine.cryptoescrow.eu:3333

Good luck, mining!

cisahasa

legendary

Activity: 910

Merit: 1000

Quote from: ?? on ??

Beaware ..kippo.eu
mining fee upto 22% when ever admin wants!

More mining pool scams .Some shady people here this is crazy.

we will look this as a typo, bad time suchs...

kippo will collect some 3% fees now to enter cloud servive

Stevenrm87

sr. member

Activity: 403

Merit: 250

Quote from: ?? on ??

Beaware ..kippo.eu
mining fee upto 22% when ever admin wants!

More mining pool scams .Some shady people here this is crazy.

Bladetus

newbie

Activity: 27

Merit: 0

Quote from: ?? on ??

Beaware of scam pool kippo.eu
mining fee upto 22% when ever admin wants!

screenshot coming!

Do you really think you would be seeing the fee that high if it was intentional and not an honest mistake which I corrected in less than a minute?
I had to raise the fee a bit because the pool's hash rate has grown over 1000% in less than a day. The fee is now at 3% temporarily, and the proceeds are going towards a more robust hosting solution so that reliability won't suffer if the hash rate snowballs even more.

Febo

legendary

Activity: 2730

Merit: 1288

Quote from: rangedriver on June 17, 2014, 01:31:39 PM

Quote from: rangedriver on June 17, 2014, 01:31:39 PM

I am the masses. I'm interested i'm Monero due to the involvement of people I respect. I have no computer skills. My new computer is windows 8.1 with a pentium chip Embarrassed

so I wont be mining.

You NEED to start mining. Don:t use a pool. Just be patient.

As you suggested and after some head scratching I set up and started to mine solo and now realize that at my current hr and difficulty the avg time to find a block is 300 days.

Maybe we have a different definition of patience. Grin

Excellent. You are now an infrastructure operator. In roughly 300 days, if you are patient, you will be rewarded with enough monero so that, if xmr denominates merely half of all black market transactions with typical velocity 10 years from now, you will be able to buy a nice, modest house in a pleasant town about an hour' s drive from an airport - or you could send one child to harvard. Actually difficulty will rise meanwhile, so it might take two years or so. Now you understand the value of an xmr better, and can decide whether to burn some fiat on a much better rational and informed basis. Meanwhile, as an xmr holder, your mining is benefitting yourself by increasing the value of your xmr.

When I urged you to solomine difficulty was lower and I assumed your hash rate was higher. Nonetheless, the experience and understanding gained are likely to serve you well, and a shot at a block reward surely won't hurt. But best of all would be if the experience taught you not to take advice from strangers on the Internet.

How much would 1 XMR be in that scenario?

I think is much better to put price in worth of a house, then in BTC, USD, or euro or anything else. Each of those can be worth nothing in 10 years. But that house will well unless will be really unlucky positioned, worth a bit more then now.

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

if xmr denominates merely half of all black market transactions with typical velocity 10 years from now...

How much would 1 XMR be in that scenario?

PQ=0.5 * 2e12 USD2012 = MV = 1.84e7 XMR * 5

1e12 USD2012
-------------- = 1 XMR
9.2e7

About 12k USD(2012) per XMR.

rangedriver

hero member

Activity: 714

Merit: 504

I am the masses. I'm interested i'm Monero due to the involvement of people I respect. I have no computer skills. My new computer is windows 8.1 with a pentium chip Embarrassed

so I wont be mining.

You NEED to start mining. Don:t use a pool. Just be patient.

As you suggested and after some head scratching I set up and started to mine solo and now realize that at my current hr and difficulty the avg time to find a block is 300 days.

Maybe we have a different definition of patience. Grin

Excellent. You are now an infrastructure operator. In roughly 300 days, if you are patient, you will be rewarded with enough monero so that, if xmr denominates merely half of all black market transactions with typical velocity 10 years from now, you will be able to buy a nice, modest house in a pleasant town about an hour' s drive from an airport - or you could send one child to harvard. Actually difficulty will rise meanwhile, so it might take two years or so. Now you understand the value of an xmr better, and can decide whether to burn some fiat on a much better rational and informed basis. Meanwhile, as an xmr holder, your mining is benefitting yourself by increasing the value of your xmr.

When I urged you to solomine difficulty was lower and I assumed your hash rate was higher. Nonetheless, the experience and understanding gained are likely to serve you well, and a shot at a block reward surely won't hurt. But best of all would be if the experience taught you not to take advice from strangers on the Internet.

How much would 1 XMR be in that scenario?

33zer0w0lf

full member

Activity: 224

Merit: 100

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GreekBitcoin

legendary

Activity: 1428

Merit: 1001

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