Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1917. (Read 4670606 times)

I think you're absolutely right.
For coins, time is money, who can go into the market, who is the winner!
 

in the op

Do you have a link to the miner?

Currently mining QCN on minergate.  Played with the the MRO and BCN, but the coins I mined for thosehaven't confirmed in three days.  What's the deal with that?

I admit I am in the scarcity-obsessed crowd and highly anti-inflationary in terms of economic philosophy. But you do have to realize that coin price will degrade if it needs 50-100 BTC per day to pull daily production off the market. And if price is degrading, the consensus is that "the coin is dying". And when the consensus builds up, people are like "fuck this" => sell => chain dumps => "it's dead" => taking a look at coinmarketcap => finding the highest ranked BCN clone => "that is successful" => buy buy buy that one => more success for that one, etc etc => establishing it as the dominant coin.

There are very strong points on why one shouldn't change something which is considered fixed (changing the rules of the game while the game is played => might turn off investors) and why they should change it if it threatens the coin with "death" (perceived death due to price degradation that catalyzes actual death).

The alternative is just to let price slide so that daily production can be absorbed with greater ease, and expect price rise when coin production will slow down after 3-4 years. With altcoins being the ADD-paradise, it seems unlikely that people will like MRO then. The rationale will be "ok, this is been around for 3-4 years with no success... why should it even interest me?". However this is a time stamped post and it will be fun if someone bumps my post (2017-8) to laugh at me.

Yeah, maybe extending the coin supply generation a bit longer than now is a good idea. Better now than later, while the coin is still young. Make it not 80% over 4 years, but over 6 years, which is a sort of compromise and will please all - miners and investors.

Instamine stigma, hm, well, perhaps you're right. Actually 4 years is a long time, a lot of things change over the span of 2 months in the crypto currency scene

Any block time adjustment will come with a block reward scaling to keep the emission curve the same. It's not fair to current or future users to have the rules changed after the blockchain has started. There would be a perpetual instamine stigma (for good reasons).

Inflation is a basic feature of PoW. There are plenty of other coins for the 'scarcity'-obsessed crowd (like XC, which is suddenly cutting the max supply to benefit the early adopters).

And when you do that, don't increase the reward per block... too much inflation. Did I mention that already?

Wow, I am seeing a ton of orphans. Sometimes even several orphans on the same height. Looks like moneropool.com is mining lots of blocks on top of its own blocks, killing smaller pools and solo miners who have to wait for propagation to have others work on their blocks. 

We need to increase block time ASAP or say "bye" to decentralized mining.

Wow you made quick work of that one. Thanks for taking charge on something that will likely really help to fuel adoption and real-world use.

Yep, this wasn't what I thought would win but the group talked to advertising professionals and graphic designers and this one was a consistent top 3 choice. As one of them said, the logo that best represents a product/project best isn't necessarily the 'cool' looking one. This is money, and money gets used by a much wider demographic group than 20-something-year-old men. To quote him:

Cool! Thanks again for everything you bring to the community Aminorex.

Also, small message to the miners: it appears 10% of you are still not using the latest optimised miner. If you want a small bump in your HR, go use the code Wolf made:)

I just hired somebody to do the client part of adding MRO to Mycelium the easy way, since I really don't have the time to run through an ADK learning cycle right now.  I'll do server-side stuff for it.

looks like the logo was decided 

https://99designs.com/logo-design/contests/monero-mro-cryptocurrency-logo-design-contest-382486

There is a lot of value in a PC GUI wallet if we want to attract new users. There are lot of traders/investors out there who want to buy monero for its disruptive ring sig technology but are not willing to keep the coins on an exchange. These investors are not proficient in using command line wallet. and the .NET wallet is not reliable as well. Even transfer from one exchange to another is still not possible. Also we need to make it easier for new exchanges to list MRO. currently only poloniex is the only well known exchange to list it. we need BTER, Mintpal and Cryptsy as well.

Now why do we need new investors and exchanges who cannot even operate a command line wallet? Because we need MROs price to rise. MRO market cap may not fall much from its current value in USD/BTC but with every day passing, value of each MRO gets diluted because of majority of newly minted 24K new coins dumped everyday. This cause coins price to decline steadily.


I have seen a lot of posts in here saying that price of MRO does not matter and we are not after making a quick profit but to develop something new from scratch that will change the world. Similar posts were prevalent in Dogecoin. I am not comparing MRO with Dogecoin by any means but still there are lessons to be learned from failure the of Dogecoin.

A) No matter how involved the community is price of coin will not rise unless there is something done to absorb all the new coins in market.

B) If speculators/investors don't see value of coin rising, they simply will not buy it and without them price of coin will not rise.

Why do we need MRO price to rise? because there is little motivation to donate to bounties if the coins price falls. Lets say I buy 1000 MRO today for 4 BTC. After a week if they are worth only 3 BTC I will either hold them and forget about it or in worse case sell them at loss. But if it worth 5 BTC after a week and 6 BTC after 2 weeks. I have vested interest in coin and i would be happy to contribute 10 MRO to the bounties hoping it will further raise MRO price. Also more coders/devs will want to get involved if MRO price is on rise.

Here's the excellent readme.txt that comes with QCN...
MRO works exactly the same... follow these instructions carefully.

http://textuploader.com/9f0y!

Personally I don't see much value in a PC GUI wallet.  In order to make in-person transactions possible, in order to reach the many unbanked who have no PCs or have PCs with no Internet, you need a mobile wallet.  The main value of a PC GUI wallet is (1) online shoppers stuck in the 1990s, and (2) forcing trolls to be more creative.

It is remarkably easy to make an Android wallet if you accept that it will be an RPC client.   I think that's perfectly acceptable, since you can run your own bitmonerod if you don't want to trust a public server.  Obviously it will need to use a client ssl cert.  The only bit I'm not personally familiar with is dealing with QR codes, but there are plenty of examples.  A simplewallet work-alike with automated certificate installation, QR read and write, balance readout, send and request, based on dyking out unused bits of mycelium and just showing the bare minimum should be a days work for a practiced ADK user, or a week's work for a good coder who is an ADK neophyte.  Then the local market features of mycelium would be easy to integrate.  

Actually, I think keeping all of Mycelium, and just adding Monero as a new tab would be very cool, now that I think about it.  You could later on add local market with automated escrow quite easily, which would make it very easy to get monero p2p via advertisements, or do monero<->fiat in the same manner as bitcoin.

In fact, I made inquiries with the company to see if they would be interested in supporting MRO markets (and taking their fees) if I supplied client code of suitable quality.

Less inflation. There are too many BTCs required per day just to keep the price steady.

Monero (MRO) added to whatmine.com

Please verify in calculations are ok ! Contact form is available

Wealth centralization occurs in currencies with very large inflation.  Wealth is Zipf distributed.  Live with it.  If you want a coin amenable to progressive taxation, starting with privacy enhanced monero is the wrong place.  States will tax bitcoin and redistribute.  They are unlikely to redistribute monero.  I have respect for the view that better distribution leads to a healthier economy, lifting all boats.  I have no respect for confiscation by inflation.  Building a bully, a robber, into the coin will not win you friends.

Constant reward solves the problem of mining incentives quite adequately because a non-exponential growth in supply will never exceed the growth of the economy, and thus the reward will appreciate at roughly the same rate as the growth of the economy.  It is perfectly balanced, by its very nature.   An exponential reward just creates bifurcated dangers:  Either it devalues the coin, or else it over-incentivizes miners, resulting in a huge waste of hash (electrical) power.  The probability of reward value tracking the growth of the economy is approximately zero in an exponentially growing reward system.

Personally, I would not invest in a currency with exponential supply, period.  It has no future because it will not be adopted by the majority of users.  It will fail to attain monopoly control if its niche. Since I am not going to be invested in such a currency, I will never use it: I have a disincentive to use it because that detracts from the currency in which I am invested.  I think this is a majority view, among cryptocurrency early adopters.  Thus it would be ill-advised to invest time, energy, creativity, or funds into such a currency.

Constant reward is superior to bitcoin.  And that's a very favorable thing to have said about a fledgling crypto. The history of exponential money supply growth on the other hand is a history of disaster and tragedy.