Pretty much agree with Johnny Mnemonic although we can't prove it was a bullshit justification. I'm pretty sure the justification was only give after getting pushback from the community though.
It is certainly true that fast block times were all the rage, and many of the clone shitcoins were being launched with 30 second or one minute block times.
Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 652. (Read 4671910 times)
One slow weekend night long ago I read through the entirety of Monero's bitcointalk historical ANN thread(s). The logic provided by TFT was that 1 minute blocktimes would increase the distribution of money in the initial emission phase when the frequency of solo mining would be highest (1 block finder every 1 minute vs every 2, so twice as many lottery drawings per day). There was no real agreement by the community that it was a good idea (due to increase orphan rate), but a post-hoc (after the fact) rationale ... or perhaps appeasement.... was that the blocktime would eventually move back to 2 minutes, after the primary emission phase was over. It was thought that the low transaction volume during the initial phase (as would be expected with a young currency) would prevent a high frequency of orphans caused by the 1 minute blocktime. So, the move back to 2 minutes, for those that have been here, is all going to plan.
Or I could have this wrong. Feel free to read the old threads
Or I could have this wrong. Feel free to read the old threads
This was just his bullshit justification for slapping a 60 second block target onto bitmonero. Fast block times were all the rage in early 2014, and he was trying to capitalize on that.
Thanks dEBRUYNE and GingerAle, very interesting. I actually will read through the old ANN threads a bit, interesting to read how things were discussed and eventually turned out. And maybe I can find some gems
https://en.wikipedia.org/wiki/Monero_(cryptocurrency):
Was reading the Monero Wikipedia website. Can anybody of the early guys / developers remember why at the time it was decided to change the block time to one minute? I think this is interesting since we are soon changing back to two minutes.
Quote
History[edit]
Monero was launched on 18 April 2014[5] originally under the name BitMonero, which is a compound of Bit (as in Bitcoin) and Monero (literally meaning coin in Esperanto). Five days later the community opted for the name to be shortened just to Monero.[6][7] It was launched as the first fork of CryptoNote-based currency Bytecoin, however was released with two major differences. Firstly, the target block time was decreased from 120 to 60 seconds, and secondly, the emission speed was decelerated by 50%. In addition, the Monero developers found numerous incidents of poor quality code that was subsequently cleaned and re-constituted.[citation needed]
Monero was launched on 18 April 2014[5] originally under the name BitMonero, which is a compound of Bit (as in Bitcoin) and Monero (literally meaning coin in Esperanto). Five days later the community opted for the name to be shortened just to Monero.[6][7] It was launched as the first fork of CryptoNote-based currency Bytecoin, however was released with two major differences. Firstly, the target block time was decreased from 120 to 60 seconds, and secondly, the emission speed was decelerated by 50%. In addition, the Monero developers found numerous incidents of poor quality code that was subsequently cleaned and re-constituted.[citation needed]
Was reading the Monero Wikipedia website. Can anybody of the early guys / developers remember why at the time it was decided to change the block time to one minute? I think this is interesting since we are soon changing back to two minutes.
Because the original launcher thankful-for-today thought it was a good idea, even when the community strongly opposed against it.
One slow weekend night long ago I read through the entirety of Monero's bitcointalk historical ANN thread(s). The logic provided by TFT was that 1 minute blocktimes would increase the distribution of money in the initial emission phase when the frequency of solo mining would be highest (1 block finder every 1 minute vs every 2, so twice as many lottery drawings per day). There was no real agreement by the community that it was a good idea (due to increase orphan rate), but a post-hoc (after the fact) rationale ... or perhaps appeasement.... was that the blocktime would eventually move back to 2 minutes, after the primary emission phase was over. It was thought that the low transaction volume during the initial phase (as would be expected with a young currency) would prevent a high frequency of orphans caused by the 1 minute blocktime. So, the move back to 2 minutes, for those that have been here, is all going to plan.
Or I could have this wrong. Feel free to read the old threads
https://en.wikipedia.org/wiki/Monero_(cryptocurrency):
Was reading the Monero Wikipedia website. Can anybody of the early guys / developers remember why at the time it was decided to change the block time to one minute? I think this is interesting since we are soon changing back to two minutes.
Quote
History[edit]
Monero was launched on 18 April 2014[5] originally under the name BitMonero, which is a compound of Bit (as in Bitcoin) and Monero (literally meaning coin in Esperanto). Five days later the community opted for the name to be shortened just to Monero.[6][7] It was launched as the first fork of CryptoNote-based currency Bytecoin, however was released with two major differences. Firstly, the target block time was decreased from 120 to 60 seconds, and secondly, the emission speed was decelerated by 50%. In addition, the Monero developers found numerous incidents of poor quality code that was subsequently cleaned and re-constituted.[citation needed]
Monero was launched on 18 April 2014[5] originally under the name BitMonero, which is a compound of Bit (as in Bitcoin) and Monero (literally meaning coin in Esperanto). Five days later the community opted for the name to be shortened just to Monero.[6][7] It was launched as the first fork of CryptoNote-based currency Bytecoin, however was released with two major differences. Firstly, the target block time was decreased from 120 to 60 seconds, and secondly, the emission speed was decelerated by 50%. In addition, the Monero developers found numerous incidents of poor quality code that was subsequently cleaned and re-constituted.[citation needed]
Was reading the Monero Wikipedia website. Can anybody of the early guys / developers remember why at the time it was decided to change the block time to one minute? I think this is interesting since we are soon changing back to two minutes.
Because the original launcher thankful-for-today thought it was a good idea, even when the community strongly opposed to it.
https://en.wikipedia.org/wiki/Monero_(cryptocurrency):
Was reading the Monero Wikipedia website. Can anybody of the early guys / developers remember why at the time it was decided to change the block time to one minute? I think this is interesting since we are soon changing back to two minutes.
Quote
History[edit]
Monero was launched on 18 April 2014[5] originally under the name BitMonero, which is a compound of Bit (as in Bitcoin) and Monero (literally meaning coin in Esperanto). Five days later the community opted for the name to be shortened just to Monero.[6][7] It was launched as the first fork of CryptoNote-based currency Bytecoin, however was released with two major differences. Firstly, the target block time was decreased from 120 to 60 seconds, and secondly, the emission speed was decelerated by 50%. In addition, the Monero developers found numerous incidents of poor quality code that was subsequently cleaned and re-constituted.[citation needed]
Monero was launched on 18 April 2014[5] originally under the name BitMonero, which is a compound of Bit (as in Bitcoin) and Monero (literally meaning coin in Esperanto). Five days later the community opted for the name to be shortened just to Monero.[6][7] It was launched as the first fork of CryptoNote-based currency Bytecoin, however was released with two major differences. Firstly, the target block time was decreased from 120 to 60 seconds, and secondly, the emission speed was decelerated by 50%. In addition, the Monero developers found numerous incidents of poor quality code that was subsequently cleaned and re-constituted.[citation needed]
Was reading the Monero Wikipedia website. Can anybody of the early guys / developers remember why at the time it was decided to change the block time to one minute? I think this is interesting since we are soon changing back to two minutes.
So now that we are into March when exactly is the fork coming?
Block 1009827
https://github.com/monero-project/bitmonero/blob/master/src/cryptonote_core/blockchain.cpp#L82
Ok thanks for that info, we are not far off.
Will there be any updates that need to be installed on the users end?
There will be a point release soon with some important bug fixes (mentioned in the dev-meeting and a few days back on IRC as well). Furthermore, you should be running any 0.9.x version (preferably 0.9.2 when it's out).
I'd like to move my moneros some online wallet and get it right back when i'm done reinstalling my system and install monero wallet. thats what i'm looking for now but which monero web wallet do you guys trust the most? i only have few though but i don't wanna lose them. 
Use MyMonero -> https://MyMonero.com, run by fluffypony, who is one of the core-team members of Monero.
So now that we are into March when exactly is the fork coming?
Block 1009827
https://github.com/monero-project/bitmonero/blob/master/src/cryptonote_core/blockchain.cpp#L82
Ok thanks for that info, we are not far off.
Will there be any updates that need to be installed on the users end?
I'd like to move my moneros some online wallet and get it right back when i'm done reinstalling my system and install monero wallet. thats what i'm looking for now but which monero web wallet do you guys trust the most? i only have few though but i don't wanna lose them.
I think once Monero gets a better following then perhaps a bounty could be put up for setting up some basic node guidelines and maybe 6 initial nodes around the world could be set up. Strict guidelines for how they should be set up and updated should be established by the core dev team. Question is who is going to pay for it. Perhaps once more transaction fees are generated on the network then a small portion of that could be used to set up, establish and maintain some nodes around the world.
I don't think this is required, because for Monero there is a clear incentive to run your own node: privacy.
Experimental Trezor Firmware Testing (testers needed):
https://forum.getmonero.org/4/academic-and-technical/2495/experimental-trezor-firmware-testing
https://forum.getmonero.org/4/academic-and-technical/2495/experimental-trezor-firmware-testing
If you want to try a Ledger version I have a Ledger I can throw at it.
Hm, I might wait until the body ASICs get smaller. That looks painful.
So now that we are into March when exactly is the fork coming?
Block 1009827
https://github.com/monero-project/bitmonero/blob/master/src/cryptonote_core/blockchain.cpp#L82
So now that we are into March when exactly is the fork coming?
they will have to kill me before they shut off my monero node !!!
Raspberry Pi's are cool, but it would be really cool to embed some sort of computer in your body.
anybody with me?
Raspberry Pi's are cool, but it would be really cool to embed some sort of computer in your body.
anybody with me?
This guy is: http://www.geek.com/chips/man-implants-smartphone-sized-computer-in-arm-to-become-diy-cyborg-1575915/
they will have to kill me before they shut off my monero node !!!
Raspberry Pi's are cool, but it would be really cool to embed some sort of computer in your body.
anybody with me?
Raspberry Pi's are cool, but it would be really cool to embed some sort of computer in your body.
anybody with me?
This is a good idea. I think once Monero gets a better following then perhaps a bounty could be put up for setting up some basic node guidelines and maybe 6 initial nodes around the world could be set up. Strict guidelines for how they should be set up and updated should be established by the core dev team. Question is who is going to pay for it. Perhaps once more transaction fees are generated on the network then a small portion of that could be used to set up, establish and maintain some nodes around the world. These nodes would be overseen by perhaps some of the devs or appointed trusted folks involved with Monero development. Keep in mind I'm just thinking as i type so some of these ideas might not work. I think BTC should have used a small portion of the transaction fees to establish better node integrity. If they had they might not be having the issues they have now with slow the transactions. I realize Monero is very private currency but if a trusted committee oversaw these nodes it might build better network transaction backbone over the long haul. Just a thought.
Don't want to get to centralized but Monero has shown to be community supported and some small thing like nodes are something to seriously consider in the future especially if BTC users start using XMR for privacy. After all using some funds to keep a basic network up 24/7 isn't encroaching on anyone's privacy and some of the developers out there might could use a well known established trusted node for their development projects.
Don't want to get to centralized but Monero has shown to be community supported and some small thing like nodes are something to seriously consider in the future especially if BTC users start using XMR for privacy. After all using some funds to keep a basic network up 24/7 isn't encroaching on anyone's privacy and some of the developers out there might could use a well known established trusted node for their development projects.
Glad you like the idea. The Core Devs already use some general funds to support bootstrapping nodes but IDK how many or where.
No point in doing my plan in a centralized way. My vision was for individuals to step up and 'adopt' disenfranchised countries for nothing more than bragging rights, the nerdy joy of setting up servers, and the promise of adding value to the network/their stacks of XMR.
If finances constrained an otherwise willing participant, they could use the FFS or their sig space to request targeted donations.
The only problem I see with this is if specific nodes are associated with individuals. The DashHoles would be like, 'hey let's ddos iCEBREAKER's nodes for lulz, Because Fuck Him amirite?'
Perhaps a Monero Donator Hall of Fame Annex is in order, to list Hero Mustangs in order of how many potential users they've provided local access to.
Ha ha lol you said DashHoles. Funny but yeah those guys just might ddos attack those that pose threat to their pre-mine shit coin. Good idea on the donator hall of fame but my ego doesn't need it beside I'd wear something ridiculous in my hall of fame photo just for the hell of it.
This is a good idea. I think once Monero gets a better following then perhaps a bounty could be put up for setting up some basic node guidelines and maybe 6 initial nodes around the world could be set up. Strict guidelines for how they should be set up and updated should be established by the core dev team. Question is who is going to pay for it. Perhaps once more transaction fees are generated on the network then a small portion of that could be used to set up, establish and maintain some nodes around the world. These nodes would be overseen by perhaps some of the devs or appointed trusted folks involved with Monero development. Keep in mind I'm just thinking as i type so some of these ideas might not work. I think BTC should have used a small portion of the transaction fees to establish better node integrity. If they had they might not be having the issues they have now with slow the transactions. I realize Monero is very private currency but if a trusted committee oversaw these nodes it might build better network transaction backbone over the long haul. Just a thought.
Don't want to get to centralized but Monero has shown to be community supported and some small thing like nodes are something to seriously consider in the future especially if BTC users start using XMR for privacy. After all using some funds to keep a basic network up 24/7 isn't encroaching on anyone's privacy and some of the developers out there might could use a well known established trusted node for their development projects.
Don't want to get to centralized but Monero has shown to be community supported and some small thing like nodes are something to seriously consider in the future especially if BTC users start using XMR for privacy. After all using some funds to keep a basic network up 24/7 isn't encroaching on anyone's privacy and some of the developers out there might could use a well known established trusted node for their development projects.
Glad you like the idea. The Core Devs already use some general funds to support bootstrapping nodes but IDK how many or where.
No point in doing my plan in a centralized way. My vision was for individuals to step up and 'adopt' disenfranchised countries for nothing more than bragging rights, the nerdy joy of setting up servers, and the promise of adding value to the network/their stacks of XMR.
If finances constrained an otherwise willing participant, they could use the FFS or their sig space to request targeted donations.
The only problem I see with this is if specific nodes are associated with individuals. The DashHoles would be like, 'hey let's ddos iCEBREAKER's nodes for lulz, Because Fuck Him amirite?'
Perhaps a Monero Donator Hall of Fame Annex is in order, to list Hero Mustangs in order of how many potential users they've provided local access to.
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