Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1913. (Read 4670606 times)

my computer is windows 7 32 bit so Im not sure the blockchain download will work for me ? If that doesnt work, will I have to delete blockchain in appdata folder and redownload the entire blockchain ?

I claim that we need not disagree.  Understanding that money supply is bimodal, these tensions resolve themselves easily. In any currency there is some proportion which is engaged in reserve demand, and some proportion which is engaged in transactional demand.  No matter what the supply engaged in higher velocity transactional use is, it will always be exactly enough to match the size of the transacting economy.  Inflating the supply does not change this.  

The two modes are in dynamic equilibrium, disregarding for the moment the disequilibria resulting from, e.g. the variation in birth rates across generations, and they are perfectly fungible and thus linearly separable.  You can consider the two economies, the saver economy and the spender economy, independently, until a disequilibrium causes inflows or outflows.  During an upward demographic trend, there are inflows.  During a downward demographic trend there are outflows.  A fixed inflation cannot ameliorate that effect, and central banking is pernicious.  You seem to think that it is important to discourage saving, but it is not, because the float is always equal in value to the economy, and discouraging saving just results in massive dehumanizing public doles without solving any actual problems.

Moreover, it doesn't matter if you have multiple currencies, because they are exchangable.  Exchanging "savecoins" for "spendcoins" and vice versa is exactly the kind of disequilibriated cross-flow that occurs within a currency when savers become spenders or spenders become savers.  

Only miners could love a 5% coin.  But they would be fools to do it, in the long run:  Their coin will be too costly, having baked in a 5% tax with no value added.  In the long run it will have to compete with other currencies on marginal cost., for the simple use of transaction and saving.  It will lose because it is over-priced.  The only reason we tolerate mining rewards on such vast scale today is that coins have to get out somehow, and you get better dispersion from mining than from a premine.  Overcharging is not good for business in the long-run.

The use of inflation as a control device is one thing.  If it were possible to use it well, competently, I would not object to it (I simply don't think it is possible),  but in fact it is just a means of segregating mankind into serfs and lords.  You can't give humans that kind of power.  It has to be algorithmic.  

And now we get to the point where we agreed in times past:  Algorithmic supply adjustment can potentially be beneficial, acting as a damper to nonlinear divergences in disequilibria.  It is an unexplored technology.  Monero is not the correct testbed, however.

Looks like you have got synced to a forked blockchain from a forked node, best bet is to stop the daemon and clear its data from %appdata%/monero. You can download a fairly up to date blockchain from one of the links in the OP, then hopefully wont take your Daemon too long to sync this time round

Deamon seems not to be working and not syncing to latest block. I dont know what else to do as my latest coins will not show up unless the my blockchain is up to date. My Deamon log out put is


3fad2742d15    39313149(86)/191001(61)  state_synchronizing      898                

2014-May-29 06:02:43.224467 [P2P9][200.87.74.194:18080 OUT]Sync data returned unknown top block: 57234->60814[3580 blocks(2 days) behind]
remote top: <2c585fdc7693252113fff46012a127085932d49891d31e5767b8fb1a3a083311>[60814], set SYNCHRONIZATION mode
2014-May-29 06:02:43.225467 [P2P9][200.87.74.194:18080 OUT] COMMAND_HANDSHAKE INVOKED OK
2014-May-29 06:02:46.086631 Connections:
Remote Host              Peer id             Recv/Sent (inactive,sec) State                    Livetime(seconds)  


Its doesnt get any futher than this as if in a loop... even after 3hrs . Please help

I thought you were joking, then I had a look to see what the hashrate was and saw the 15% fee notice - full marks to moneropool.com!

cpuminer is faster than the wallet and does not support solo mining.

moneropool.com > will start charging a 15% fee > leave it now

Thanks for noticing! Changed to other pool.

There's an ongoing cloud mining hashrate war between whales. Although I don't know why they wouldn't just solo mine.

Anyone who's mining at moneropool.com might want to consider pointing their rigs somewhere else if you know whats good for you.

moneropool.com has well over 51% of the network hashrate. 

People seems to be screwing up the initial wallet sync... like I did the first time.

Here is the excellent QCN readme.txt... MRO is same procedure.

http://textuploader.com/9f0y

Open your FIRST command window, go to MRO directory...
And do Step #1... run daemon and fully synchronize blockchain...
Type "save" and *** do nothing else ***. Keep daemon running in Window #1.

Open up a SECOND command window, go to the MRO directory...
And do Step #2...
Just type "simplewallet"... it will prompt you for wallet name and password...
Now with the daemon still running... type "refresh".

Your wallet should spend about 60 seconds cycling though a bunch of numbers and synching.
If you screw up this part... your wallet will not work.

If all this fails just buy Quark...
Or scout your area for bridges to jump from...
A good rule of thumb is about 10 stories high...
You want to be approaching escape velocity when to hit the water.

While I agree, the self-interested coalition of miners errs on the side of caution in regard to centralization imo

For a little while there I had mistakem AlexGR for a drk troll.   So happy to be wrong.   Valid and balanced criticism makes baby  Shakyamuni happy.

The simplest solution to volatility is a ratonally self-interested coalition of miners selling on a schedule representing their interest in long-term maximization of value.  Perhaps more likely is that proper professional traders enter the market, after it grows enough to support them.  Float is too small to be interesting forr a fulltimer yet

You continue to use the terms "robbery" and "extortion" I suppose to make your point as extreme as possible. But nobody is robbing or extorting you. Whatever value cost comes with any debasement is paid directly to the miners. There's not some cackling bad guy running away with your loot!

You say it's unreasonable but I think even 5% is cheap if it means keeping controlling hands out of the cookie jar.

Just because bankers and governments use inflation as a control device doesn't mean we also can't use it to our own advantage.

Ultimately you and I have different goals. You want a deflating commodity crypto and I want a massively scalable exchange medium. We're wasting our time if we want to achieve both together.

Of course it is difficult.
However I am certain that QCN's emission curve leads to less accumulation of MRO at few early adopters and lets late adopters the chance to mine sufficient amounts of MRO's. Of course it may be more expensive to Buy into Monero now, but it is better to Mine AND probably to Buy into Monero later.

Plus it has the benefit that there would be no need to discuss how mining rewardshould be organized when 18M coins are mined yet (fixed reward, fixed inflation 0.5%, 1%, 5% ?).

To be fair though, it's very difficult to

a) distribute the monetary base (which has to be distributed to the users, otherwise there are no coins to play around with)
b) do it "fairly" (every single definition of fair is vulnerable)
c) provide good store of value that prevents massive inflation (otherwise inflation is corrosive to one's investment)
d) provide future-proofing (as proof-of-work will require miners in the future too)

...all the while aiming for perceived success (price rise) which catalyzes actual success (=> more buying / adoption etc) instead of perceived failure and consequent death.

see op: https://bitcointalksearch.org/topic/m.6711778
let me know if you get it working and what kind of platform. I'm currently struggling to get it to connect to any nodes

are there any plans for an Linux ARM version of the wallet? perfect for pi's

Love this post. I very much want Monero to succeed. But I think AlexGR made a very good remark why this could actually not happen.
People do not like to buy coins that go down. Who of you would like to be in a country whose currency drops against all other currencies? => buy another coin (XC, QCN) / foreign currency (maybe CHF if it would not have been coupled to the Euro)

I think that if Monero wants to succeed in its prior goal to become THE anonymous coin for the people it has to at least ensure that price is not dropping too bad with all the MRO supply per day. Otherwise people will not want MRO. Not know and not in 3 - 4 years.

New to MRO here. Trying to set this up on Windows and I can't figure out the wallet. Is there a GUI wallet available like I have seen on other coins?