[XMR] Monero - A secure, private, untraceable cryptocurrency - page 593.

whenwhatwherewhyhow

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Quote from: jwinterm on May 22, 2016, 03:33:16 PM

Quote from: whenwhatwherewhyhow on May 22, 2016, 03:29:38 PM

...
oh okay, thanks for clearing that up. An M to XMR is like a Satoshi to BTC.

So the current amount of inflation is gradually descending. What would be the expected supply of XMR by 2022?

Somewhere around 18.4M. Could be a little less because of block reward penalties.

cool so 11.8 now, 18.4 by then. That's not bad at all.

jwinterm

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Activity: 3164

Merit: 1118

Quote from: whenwhatwherewhyhow on May 22, 2016, 03:29:38 PM

...
oh okay, thanks for clearing that up. An M to XMR is like a Satoshi to BTC.

So the current amount of inflation is gradually descending. What would be the expected supply of XMR by 2022?

Somewhere around 18.4M. Could be a little less because of block reward penalties.

whenwhatwherewhyhow

newbie

Activity: 45

Merit: 0

Quote from: jwinterm on May 22, 2016, 03:18:52 PM

Quote from: whenwhatwherewhyhow on May 22, 2016, 03:17:01 PM

Quote from: smooth on May 21, 2016, 11:18:41 PM

Quote from: whenwhatwherewhyhow on May 21, 2016, 10:16:06 PM

One last question. What is the emission / inflation rate of monero and where does it end? currently at 11.8m according to coincap...will it go higher than that?

The base supply for variable rewards (each block pays out a tiny fraction of the remaining base supply, so as a result the block reward continuously decline slowly) is about 18.4 million. Once the reward reaches a minimum of 0.3/minute (0.6 per block given the current 2 minute blocks, though that could change) it will stay there forever. In theory this means the total supply is infinite, but once it reaches the 0.3/minute level the rate of growth will be very slow, <1% per year.

The first page says this...

[2] Initial number of atomic units is M = 2^64 - 1. However, once the block reward reaches 0.3 XMR per minute (sometime in 2022) that is treated as the minimum subsidy, which means that Monero's total emission will forever increase by ~157680 XMR annually.

So M = 18,446,744,073,709,551,615 ? I'm not understanding something there...

Yes, but with the caveat that the "atomic unit" of Monero is 1e-12 XMR, so M = 18,446,744,073,709,551,615 atomic units = 18,446,744.073... XMR

oh okay, thanks for clearing that up. An M to XMR is like a Satoshi to BTC.

So the current amount of inflation is gradually descending. What would be the expected supply of XMR by 2022?

jwinterm

legendary

Activity: 3164

Merit: 1118

Quote from: whenwhatwherewhyhow on May 22, 2016, 03:17:01 PM

Quote from: smooth on May 21, 2016, 11:18:41 PM

Quote from: whenwhatwherewhyhow on May 21, 2016, 10:16:06 PM

One last question. What is the emission / inflation rate of monero and where does it end? currently at 11.8m according to coincap...will it go higher than that?

The base supply for variable rewards (each block pays out a tiny fraction of the remaining base supply, so as a result the block reward continuously decline slowly) is about 18.4 million. Once the reward reaches a minimum of 0.3/minute (0.6 per block given the current 2 minute blocks, though that could change) it will stay there forever. In theory this means the total supply is infinite, but once it reaches the 0.3/minute level the rate of growth will be very slow, <1% per year.

The first page says this...

[2] Initial number of atomic units is M = 2^64 - 1. However, once the block reward reaches 0.3 XMR per minute (sometime in 2022) that is treated as the minimum subsidy, which means that Monero's total emission will forever increase by ~157680 XMR annually.

So M = 18,446,744,073,709,551,615 ? I'm not understanding something there...

Yes, but with the caveat that the "atomic unit" of Monero is 1e-12 XMR, so M = 18,446,744,073,709,551,615 atomic units = 18,446,744.073... XMR

whenwhatwherewhyhow

newbie

Activity: 45

Merit: 0

Quote from: smooth on May 21, 2016, 11:18:41 PM

Quote from: whenwhatwherewhyhow on May 21, 2016, 10:16:06 PM

One last question. What is the emission / inflation rate of monero and where does it end? currently at 11.8m according to coincap...will it go higher than that?

The base supply for variable rewards (each block pays out a tiny fraction of the remaining base supply, so as a result the block reward continuously decline slowly) is about 18.4 million. Once the reward reaches a minimum of 0.3/minute (0.6 per block given the current 2 minute blocks, though that could change) it will stay there forever. In theory this means the total supply is infinite, but once it reaches the 0.3/minute level the rate of growth will be very slow, <1% per year.

The first page says this...

[2] Initial number of atomic units is M = 2^64 - 1. However, once the block reward reaches 0.3 XMR per minute (sometime in 2022) that is treated as the minimum subsidy, which means that Monero's total emission will forever increase by ~157680 XMR annually.

So M = 18,446,744,073,709,551,615 ? I'm not understanding something there...

dEBRUYNE

legendary

Activity: 2268

Merit: 1141

Logs for the seventh dev meeting held on 2016-05-22

https://getmonero.org/2016/05/22/overview-and-logs-for-the-dev-meeting-held-on-2016-05-22.html

Logs for the Kovri dev meeting held on 2016-05-22

https://getmonero.org/2016/05/22/logs-for-the-kovri-dev-meeting-held-on-2016-05-22.html

dEBRUYNE

legendary

Activity: 2268

Merit: 1141

Seventh dev meeting in approximately 3 hours (16:00 UTC). Dev meeting will be held at #monero-dev on freenode

https://www.reddit.com/r/Monero/comments/4kifoj/seventh_dev_meeting_in_approximately_3_hours_1600/

Kovri (I2P) dev meeting in approximately 4 hours (17:00 UTC). Dev meeting can be followed at #monero-dev on freenode

https://www.reddit.com/r/Monero/comments/4kifie/kovri_i2p_dev_meeting_in_approximately_4_hours/

dEBRUYNE

legendary

Activity: 2268

Merit: 1141

Quote from: smooth on May 21, 2016, 11:18:41 PM

Quote from: whenwhatwherewhyhow on May 21, 2016, 10:16:06 PM

One last question. What is the emission / inflation rate of monero and where does it end? currently at 11.8m according to coincap...will it go higher than that?

The base supply for variable rewards (each block pays out a tiny fraction of the remaining base supply, so as a result the block reward continuously decline slowly) is about 18.4 million. Once the reward reaches a minimum of 0.3/minute (0.6 per block given the current 2 minute blocks, though that could change) it will stay there forever. In theory this means the total supply is infinite, but once it reaches the 0.3/minute level the rate of growth will be very slow, <1% per year.

You can also observe the daily inflation here:

https://docs.google.com/spreadsheets/d/1qXi7zUSIh7F6UuSuhOryyFbHEy_LJuym3I3neAga_2s/

Hasn't been adjusted for 2 minute blocks yet, but that doesn't really matter since the inflation per minute stayed the same.

TooDumbForBitcoin

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Activity: 1638

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Quote from: Tyke on May 21, 2016, 07:19:30 PM

NEM, Ethereum and Dash are winning Monero in this poll: https://twitter.com/MrSilverCider/status/733562336514969600

Monero has 4% of the vote!

I will be writing books about these four crypto coins in 2017. I will begin with the winner of this poll. 4-5 days left.

Crayons provided, or do I buy my own?

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: whenwhatwherewhyhow on May 21, 2016, 10:16:06 PM

One last question. What is the emission / inflation rate of monero and where does it end? currently at 11.8m according to coincap...will it go higher than that?

The base supply for variable rewards (each block pays out a tiny fraction of the remaining base supply, so as a result the block reward continuously decline slowly) is about 18.4 million. Once the reward reaches a minimum of 0.3/minute (0.6 per block given the current 2 minute blocks, though that could change) it will stay there forever. In theory this means the total supply is infinite, but once it reaches the 0.3/minute level the rate of growth will be very slow, <1% per year.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Thx Smooth, great info as per usual.

whenwhatwherewhyhow

newbie

Activity: 45

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Quote from: dEBRUYNE on May 20, 2016, 09:59:22 AM

Quote from: whenwhatwherewhyhow on May 20, 2016, 09:41:58 AM

Quote from: dEBRUYNE on May 20, 2016, 04:14:00 AM

Quote from: whenwhatwherewhyhow on May 19, 2016, 08:15:43 PM

Quote from: jwinterm on May 19, 2016, 08:14:04 PM

Quote from: whenwhatwherewhyhow on May 19, 2016, 07:59:14 PM

...

sigh...I hope I didn't lose the funds. I think everything is synced so I did what u said and put the files in there. It does show the address that MoneroX created, but it says zero balance. It should say 118 XMR

http://--pic--

Sorry for being dense, I'm used to having a GUI.

You need to start simplewallet and tell it to use account.bin, either as a command line option or from the terminal interface. Assuming you got that done right, make sure you try to type 'refresh' without quotes into simplewallet while daemon is running and synced.

daemon = bitmonerod.exe?

EDIT: Yep, thanks...works!

http://--pic--

diff and status are commands that need to be entered into the daemon. To transfer coins out of your wallet you need to be fully synced. According to your last screenshot you are probably fully synced. Like I said, try diff or status in bitmonerod.exe (the daemon) and see if the block height is equal to the one reported on http://moneroblocks.info/. The "-28 days ahead" is from a peer that is connected to you, but who is still syncing.

Yep, height is matching. Thanks.

I guess my next question is how to transfer funds...

transfer

[payment_id]

The last part confuses me...payment_id? also why surround that in brackets instead of chevrons like the others? I guess it is optional?
Again, I apologize in advance for being dumb.

[1] Payment ID is needed when sending to exchanges, merchants etc. Basically anyone that needs to verify the payment belongs to you. You can read more about it here:

https://www.reddit.com/r/Monero/comments/47qa32/circumstances_to_use_a_paymentid_circumstances/

[2] Between brackets because, like you correctly stated, it is an optional argument.

[3] If you don't specify the mixin number it will default to 4 in simplewallet, however the minimum is 2. Thus, let's say you want to donate 1 XMR to the core-team, who don't need to "identify" you, the full command would be:

Code:

transfer 4 46BeWrHpwXmHDpDEUmZBWZfoQpdc6HaERCNmx1pEYL2rAcuwufPN9rXHHtyUA4QVy66qeFQkn6sfK8aHYjA3jk3o1Bv16em 1

If you didn't specify the mixin number it would've defaulted to 4 anyway.

If you want to send 1 XMR to Poloniex, for instance, the full command would be:

Code:

transfer 4 1 [payment_ID_provided_by_poloniex]

I'd advise to try it out with test amounts first to get a bit comfortable with it before sending large(r) amounts.

Source for the core-team address: https://bitcointalksearch.org/topic/m.7914927

Regarding bolded, you don't have to apologize, most of us probably started like that.

Thanks for your help. One last question. What is the emission / inflation rate of monero and where does it end? currently at 11.8m according to coincap...will it go higher than that?

Tyke

legendary

Activity: 1538

Merit: 1210

NEM, Ethereum and Dash are winning Monero in this poll: https://twitter.com/MrSilverCider/status/733562336514969600

Monero has 4% of the vote!

I will be writing books about these four crypto coins in 2017. I will begin with the winner of this poll. 4-5 days left.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: phishead on May 21, 2016, 04:35:13 PM

Quote from: smooth on May 21, 2016, 04:30:42 PM

Quote from: Hueristic on May 20, 2016, 04:08:02 PM

@Smooth, what IYO would be the best approach to a decentralized market place? IIRC we were waiting on the multi-sig for that purpose?

Good question. It isn't a problem I've thought a lot about but I think something like my idea for off-chain messaging with on-chain fee payment is probably a good foundation. Listing items, making offers/purchases, etc. could all be messages. Identity, rating, reputations, web-of-trust, etc. are a tricker problems and probably need some other solution.

Search is unsolved, and openbazzar got a lot of things about the infrastructure obviously wrong (running over UDP which is incompatible with Tor - WTF?, people need to leave their computers on to serve a store - WTF?)

I think it should be left off Monero's blockchain for reasons stated by Smooth in the past about the potential to "bloat" the chain or whatever...

I just think that this theoretical store would need people to run it's own software program and have it's own GUI and everything... like downloading, running a node, and web browsing through tor, in a way... I would assume...

The off-chain message proposal is a good model, in principle. It includes a mechanism for paying a fee on-chain (after all that's the only way you can pay a fee), but the content and most of the interaction is off chain. Even that might become unscalable if the volume of usage is extremely high (so too many fees being paid) but we can address that if and when it happens. For now the bigger issue with Monero is empty blocks, not too many transactions.

phishead

hero member

Activity: 1874

Merit: 840

Keep what's important, and know who's your friend

Quote from: smooth on May 21, 2016, 04:30:42 PM

Quote from: Hueristic on May 20, 2016, 04:08:02 PM

@Smooth, what IYO would be the best approach to a decentralized market place? IIRC we were waiting on the multi-sig for that purpose?

Good question. It isn't a problem I've thought a lot about but I think something like my idea for off-chain messaging with on-chain fee payment is probably a good foundation. Listing items, making offers/purchases, etc. could all be messages. Identity, rating, reputations, web-of-trust, etc. are a tricker problems and probably need some other solution.

Search is unsolved, and openbazzar got a lot of things about the infrastructure obviously wrong (running over UDP which is incompatible with Tor - WTF?, people need to leave their computers on to serve a store - WTF?)

I think it should be left off Monero's blockchain for reasons stated by Smooth in the past about the potential to "bloat" the chain or whatever...

I just think that this theoretical store would need people to run it's own software program and have it's own GUI and everything... like downloading, running a node, and web browsing through tor, in a way... I would assume...

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: Hueristic on May 20, 2016, 04:08:02 PM

@Smooth, what IYO would be the best approach to a decentralized market place? IIRC we were waiting on the multi-sig for that purpose?

Good question. It isn't a problem I've thought a lot about but I think something like my idea for off-chain messaging with on-chain fee payment is probably a good foundation. Listing items, making offers/purchases, etc. could all be messages. Identity, rating, reputations, web-of-trust, etc. are a tricker problems and probably need some other solution.

Search is unsolved, and openbazzar got a lot of things about the infrastructure obviously wrong (running over UDP which is incompatible with Tor - WTF?, people need to leave their computers on to serve a store - WTF?)

phishead

hero member

Activity: 1874

Merit: 840

Keep what's important, and know who's your friend

Quote from: wpalczynski on May 21, 2016, 04:16:28 PM

Quote from: phishead on May 20, 2016, 03:48:17 PM

Quote from: Hueristic on May 20, 2016, 10:07:28 AM

Quote from: GreekBitcoin on May 20, 2016, 08:43:32 AM

Quote from: phishead on May 19, 2016, 07:36:22 PM

That really doesn't make any sense though...

It really does make sense! He is a scammer.

I think you misread Phishead, he meant it doesn't make sense they tried to blame it on me.

Maybe they will send me more viruses or try to hack me. Always fun to watch amateurs at work. Lol

Yep, it was just odd how they put all this burden on Hueristic and then ran off... Have you gotten any angry PM's from investors and such? lol

I just feel bad for the people who put a good chunk of BTC toward that project... *sigh* there are always bad people out there in the world always trying to scam someone. Embarrassed

How much did he scam?

From what people have been saying on Ophion's scam accusation thread it came out to be ~17 BTC.

edit: random question... I've been having trouble with my account showing any progress on monerohash. It says that it has been recording my shares of hashes on my profile, but I don't have anything to show for it in the "pending balance"... any ideas of what that could mean?

wpalczynski

legendary

Activity: 1456

Merit: 1000

Quote from: phishead on May 20, 2016, 03:48:17 PM

Quote from: Hueristic on May 20, 2016, 10:07:28 AM

Quote from: GreekBitcoin on May 20, 2016, 08:43:32 AM

Quote from: phishead on May 19, 2016, 07:36:22 PM

That really doesn't make any sense though...

It really does make sense! He is a scammer.

I think you misread Phishead, he meant it doesn't make sense they tried to blame it on me.

Maybe they will send me more viruses or try to hack me. Always fun to watch amateurs at work. Lol

Yep, it was just odd how they put all this burden on Hueristic and then ran off... Have you gotten any angry PM's from investors and such? lol

I just feel bad for the people who put a good chunk of BTC toward that project... *sigh* there are always bad people out there in the world always trying to scam someone. Embarrassed

How much did he scam?

xa4

member

Activity: 71

Merit: 10

Quote from: jwinterm on May 21, 2016, 12:12:23 PM

Quote from: dEBRUYNE on May 21, 2016, 10:30:21 AM

Quote from: xa4 on May 21, 2016, 09:33:19 AM

Sorry if stupid question :
I have an old (pre)monero 0.8.8.6 wallet.bin file.
I ran 0.9.4.0 and when opening the wallet.bin file in simplewallet I get

Code:

Error: failed to load wallet: incompatible native format - size of long

What can I do ? --generate-from-keys wallet.bin.keys ?

Thx for your advice.

In addition to other advices, make sure you are on the same operating system as the one where your old wallet was generated.

If you get rid of bin file (move/delete), then the keys file should work on any OS.

THX.
Indeed, it was an old win7 no-seed wallet I tried on Ubuntu. I moved the wallet.bin, kept wallet.bin.keys in the folder and opened wallet.bin with ./simplewallet like you said. It worked, first it had 0 balance, but after a refresh - which took a long time - everything was ok.

jwinterm

legendary

Activity: 3164

Merit: 1118

Quote from: dEBRUYNE on May 21, 2016, 10:30:21 AM

Quote from: xa4 on May 21, 2016, 09:33:19 AM

Sorry if stupid question :
I have an old (pre)monero 0.8.8.6 wallet.bin file.
I ran 0.9.4.0 and when opening the wallet.bin file in simplewallet I get

Code:

Error: failed to load wallet: incompatible native format - size of long

What can I do ? --generate-from-keys wallet.bin.keys ?

Thx for your advice.

In addition to other advices, make sure you are on the same operating system as the one where your old wallet was generated.

If you get rid of bin file (move/delete), then the keys file should work on any OS.

Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 593. (Read 4671920 times)