Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1965. (Read 4671108 times)

Good point

He someone manages to criticize the MRO distribution curve as "insanely fast" but ignores that BCN, which he is running around praising, is twice as fast as MRO (in addition to the two year premine head start). Honestly I don't think he's paying that much attention to the details, just sees some good ideas. The general view of anything not-bitcoin among the most of the bitcoin crowd is that they are all shitcoins. Most of the time they are right, so you can't entirely blame them.

No but at the same time he appears somewhat jaundiced with anything not Bitcoin. Apparently he had not heard of Monero which is very strange and then goes on to call QCN as a fairer fork. Come on, we all saw and know that is a big bag of BS

I doubt he's just making this up.

Alas, none of the bugs or short comings were fixed in doing that— and it doesn't appear that any of the people involved in it have the background for the low level work. So you might have just written out the only active developers of the software, may not bode well for continued development.

The fork also can't claim to be roses and sunshine wrt fairness: As someone very interested in privacy technology and as someone who is usually near the hub of technical discussion in the Bitcoin system, I'd never heard of that fork until just recently— nearly a month after it's start.  And… has a very fast coin distribution, and was started with a difficulty much lower than the network could support. A lot could have been done to improve fairness (e.g. fixing the subsidy to a low level at least until the difficulty crossed the level where the prior system was, or setting the minimum difficulty to a good fraction of the achieved rate), promoting it outside of pools of altcoin speculators (e.g. why do I hear about zerocash 100,000 times for every time I hear about this stuff?), etc.   Not that I think that any of the altcoin stuff is advisable, but if you're going to make a fork on the virtue of fairness wouldn't it behoove you to actually be fair?

And, of course, the fork has now also been forked. That one at least tames the insanely fast distribution somewhat... but it too doesn't fix any of the worse parts... I can only imagine that we're going to continue to see once a month forks of that stuff— suits me fine, while the technology is interesting and useful, the speculative churn is not.

Too obvious.

By the way, as pointed out by gmaxwell, CoinJoin is already available in Bitcoin. The only difference is that this CoinJoin is run by Amazon instead of blockchain.info.

My bet is that the devs looked at it, realized they were in way too deep, and then put out some PR bullshit.

Looks like Darkcoin won't be implementing ring signatures, awesome!  Monero will remain a unique competitor.

My bet is that the devs looked at it, realized they were in way too deep, and then put out some PR bullshit.

Focus on the coin, the market will sort everything else out. That said I still believe that the coin distribution is terrible right now but getting better every day.

Disclaimer: I hold both DRK and MRO.

if I solo mine by typing "start_mining 8" from my wallet I get about 63 H/s. I'm using win7 on an i7 930 CPU.

Please educate me.  What is the power consumption of this 200H/s rig?

Thanks.

Those were either very low end computers or you got screwed by polls not working very well (I tried to warn everyone), using an unoptimized miner, or just getting unlucky. A single 4770 class machine (very roughly 100 h/s IIRC) should make about a coin and a half per day at 100M difficulty (and it wasn't that high until the past few days). That's roughly 100 times what you got. Not right.

This is the normal course of events.  I predicted this, and profited by it.  MRO traded off-exchange rose 10x in two weeks, and when it hit the exchange, the initial inflow of fiat pushed it up 4x from there.  By 0.008 the top was obvious, and I sold half of my MRO.  I predicted a bottom at .004 but I was delayed in checking my computer, so I didn't start buying until 0.0027.  I think 0.0026 was the bottom, the end of a slide after one dead-cat bounce.  Now it is reboot time.  The weak hands have shaken out.  The miners who needed liquidity and/or have low long-term confidence in the coin (probably most of them, as miner's have other qualifications) have sold.  I am almost fully loaded again (and in fact have converted some BTC again, since I perceive 0.0026 to be a very very good opportunity).  Thus my actions attest that I think the bottom is in, at the 0.382 fibonnaci retracement level.  If I am wrong however, I will definitely add more (although probably I will recharge BTC from fiat as well, if I spend some on MRO, as I am uncomfortably low on BTC right now) around 0.00128.  I don't expect the next topping level to be lower than 0.0129, and I do not plan to sell any below that unless there is a transient spike, as any low liquidity environment is prone to admit, and I happen to be present for it.  I intend to add to my postion gradually until it meets my long-term goals.

(My conceit is that by smoothing out the volatility spikes, I add a valuable service, which aids in price discovery, and creates the humane reassurances of relative price stability.  Folks don't mind a gradual rise, but large sharp swings creates a kind of justifiable skepticism, and a degree of fear regarding where the price will be when liquidity is required.   "Gradual" is relative to the exchange history, of course.  I definitely find it enjoyable and personally lucrative to provide this service.  Probably I should spend more time writing code, and less time trading and talking.  I am not an MRO code contributor so far.  I am extremely well qualified to be one, however, at least technically.)

I would advise anyone (who is a friend, not an enemy) with discretionary investment funds to allocate a portion to MRO, because the chances are not bad that MRO will become the dominant privacy-enhanced liquidity vehicle of the coming decade, and in my estimation such a vehicle should command a market cap in the range of trillions of USD, once it reaches maximum penetration.  Even a small chance of such an outcome is worthy of attention in any rational portfolio.  On a time-scale of decades, the present price is largely irrelevant to the decision.  If you don't need to spend the money before 2020, then don't think twice about the price, just think about how much you want to lock up over that time (and the costs likely to arise if MRO proved to be the wrong vehicle, and you needed to switch horses) and then enter by dollar cost averaging.  It is truly hard to muck it up if you diligently apply dollar cost averaging.  If that is beneath you, you are a trader and have no need of my advice.

I personally currently aim to hold a long-term position of 8 BTC to 1 MRO, as MRO grows, as well as a short term trading position which is 10% of my crypto and fluctuates between MRO and BTC, in addition to my non-crypto investments (mostly swaps and spreads).  My risk tolerance is higher than most.