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Topic: [XMR] Monero Speculation - page 1121. (Read 3314330 times)

legendary
Activity: 3570
Merit: 1959
September 04, 2016, 09:25:54 PM
Am I the only one who thinks buying a coin that is still 10x what it was 20 days ago is ludicrous? Apparently so by today's pump debacle.

It is ludicrous.  I am also buying here, but not very much.


Same here, just bought .1 btc. long term fanatic. lol.
legendary
Activity: 2968
Merit: 1198
September 04, 2016, 09:21:23 PM
Also isn't monero scability worse than BTC (ie. more data per transaction to process)? (I know Monero has an adaptative blocksize but that doesn't solve the centralization of nodes problem).

The difference is modest, now that people have adapted to using Monero efficiently (not sending payments with lots of unnecessary decimal places for example). Go look right now. Many real transactions using ring signatures (now required) on the live network are <1 KB. Some are larger of course. Median block size last 800 blocks 3500 bytes, average transactions per block 3.5. Average tx size after subtracting block headers is <1 KB.

The bigger increase in transactions size will come with the (pruneable) range proofs of RingCT. The same issue would affect BTC if it added CT and if not then achieving any kind of privacy (though not as good) requires engaging in mixing, chained coinjoins, etc. which reintroduce the size penalty in the form of more transactions.

There is no free lunch.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
September 04, 2016, 09:19:04 PM
Am I the only one who thinks buying a coin that is still 10x what it was 20 days ago is ludicrous? Apparently so by today's pump debacle.

It is ludicrous.  I am also buying here, but not very much.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
September 04, 2016, 09:17:57 PM
AES-NI is Intel®

Many AMD CPUs have AES-NI now, often faster than comparable Intel CPUs.

The main thing that makes it hard to do with an ASIC is irregularly accessing a relatively large amount of memory.  A large enough die at a fine enough process will eventually make it feasible to produce an ASIC with a scratchpad large enough for cryptonight.

By that time, quantum will be the bigger issue, methinks.


The copywrite is my point. that is a massive barrier to legal ASIC development.

No.  The math is not patentable, and no ASIC would use Intel IP for AES.  It would implement AES differently.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
September 04, 2016, 09:16:17 PM
...don't you think the superior network effect (security, marketability, brand recognition) of BTC will prevent that? It's not always the best which wins.

Also isn't monero scability worse than BTC (ie. more data per transaction to process)? (I know Monero has an adaptative blocksize but that doesn't solve the centralization of nodes problem).

The larger transactions are a constant factor.  Constant factors disappear with hardware tech generations. The real scalability bottleneck in bitcoin is political.  Monero doesn't have that problem yet.

Bitcoin absolutely has a huge lead in social capital, and it remains to be seen that Monero can match it.  I think, however, that financial value and the promise of growth motivated the development of that capital.  Monero seems to have more upside potential now, which may cause a hyper-speed catch-up in social capital.  Time will tell.  I certainly can't put intervals around my guesses on that point right now, so they seem pretty worthless, predictively.

Another point: Old school bitcoin enthusiasts have been easy to sell on Monero from the start, and it is not so easy to ignore among the scamcoin hordes any longer, so I expect a lot of them to get on the bandwagon in the coming 6 months or so. They will bring their network and social capital with them.

hero member
Activity: 785
Merit: 502
September 04, 2016, 09:16:12 PM
Am I the only one who thinks buying a coin that is still 10x what it was 20 days ago is ludicrous? Apparently so by today's pump debacle.
legendary
Activity: 3836
Merit: 4969
Doomed to see the future and unable to prevent it
September 04, 2016, 09:12:23 PM
AES-NI is Intel®

Many AMD CPUs have AES-NI now, often faster than comparable Intel CPUs.

The main thing that makes it hard to do with an ASIC is irregularly accessing a relatively large amount of memory.  A large enough die at a fine enough process will eventually make it feasible to produce an ASIC with a scratchpad large enough for cryptonight.

By that time, quantum will be the bigger issue, methinks.


The copywrite is my point. that is a massive barrier to legal ASIC development.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
September 04, 2016, 08:54:18 PM
AES-NI is Intel®

Many AMD CPUs have AES-NI now, often faster than comparable Intel CPUs.

The main thing that makes it hard to do with an ASIC is irregularly accessing a relatively large amount of memory.  A large enough die at a fine enough process will eventually make it feasible to produce an ASIC with a scratchpad large enough for cryptonight.

By that time, quantum will be the bigger issue, methinks.
legendary
Activity: 3836
Merit: 4969
Doomed to see the future and unable to prevent it
September 04, 2016, 08:42:44 PM
AES-NI is Intel®
legendary
Activity: 1722
Merit: 1217
September 04, 2016, 08:33:47 PM
Hash rate closing in on 40 million.

Astounding. Everyone switching from ETH to XMR?


Hash rate closing in on 40 million.

So it's only CPU and GPU mining right now. How many months/years until ASICs?

I always read it was "Asic-resistant", however IDK what that really means. I mean, couldn't someone develop an ASIC for cryptonote? Is anyone trying?


Of course. You cant resist that entirely. In a perfect world though (and i imagine an omniscient being could theoretically do this) you could design a hashing algorithm where a desktop pc WAS its asic. Of course we are mortals and no one can reverse engineer like that but cryptonight is an attempt to get as close to that as possible. A cryptonight asic would conspicuously resemble a consumer pc in many ways.
full member
Activity: 235
Merit: 100
September 04, 2016, 08:01:43 PM
I've seen a handful of people mentioning the possibility of XMR overtaking BTC. Is this just XMR fever talking, or is there some rational basis for this argument?

I see the odds of XMR overtaking BTC being close to nil. That said, I believe there's a high probability it could be a strong 2nd, overtaking LTC as BTC's "silver".

I generally agree with you. I have said from the beginning that it could be useful to have both a transparent blockchain and this sort of obscured blockchain running side-by-side. Yes there are ways that either coin could fill the shoes of the other but I don't think that is going to happen. I think Monero will be used primarily for wealth storage and private transactions and Bitcoin will be used primarily for transparent transactions and as an open blockchain. One difference between Monero and Litecoin though. Monero is not designed to be cheap. So I could see Moneros top price being a much greater fraction of bitcoin's price and litecoin could ever be. If I'm drunk enough I can even imagine scenarios in which  Monero is more valuable than Bitcoin per unit . In this case it wouldn't be Bitcoin silver  it would be Bitcoins Platinum. But as to it replacing Bitcoin? There's a lot of reasons that that seems silly to me.

+1
newbie
Activity: 41
Merit: 0
September 04, 2016, 07:11:07 PM


Hash rate closing in on 40 million.

So it's only CPU and GPU mining right now. How many months/years until ASICs?

I always read it was "Asic-resistant", however IDK what that really means. I mean, couldn't someone develop an ASIC for cryptonote? Is anyone trying?


If I recall correctly from old video (or audio) with Fluffypony it is possible to make an ASIC for CN. Please correct me if I wrong.

What it is is that ASICs don't have a big advantage over GPUs and GPUs don't have a big advantage over CPUs.  When the price gets high enough the small advantage might make it financially feasible to design and manufacture ASICs.  I certainly don't have the knowledge to analyze this.

Yes. But I think that ASIC will be a bit cheaper than GPU rig (as GPU rig slightly cheaper than CPU. I mean KH per $).

I would hope so. It's really expensive and probably a loss to even try and build a new GPU rig for cryptonote right now, right?

Not really. I don't know how about now (my couple of rigs are from 2014) but rig profitability mostly depends on electricity costs.
Higher hashrate means higher difficulty means lower XMR profit but with high hashrate we gain high security and therefore higher XMR value. So only electricity cost matters.
legendary
Activity: 3570
Merit: 1959
September 04, 2016, 06:38:33 PM


Hash rate closing in on 40 million.

So it's only CPU and GPU mining right now. How many months/years until ASICs?

I always read it was "Asic-resistant", however IDK what that really means. I mean, couldn't someone develop an ASIC for cryptonote? Is anyone trying?


If I recall correctly from old video (or audio) with Fluffypony it is possible to make an ASIC for CN. Please correct me if I wrong.

What it is is that ASICs don't have a big advantage over GPUs and GPUs don't have a big advantage over CPUs.  When the price gets high enough the small advantage might make it financially feasible to design and manufacture ASICs.  I certainly don't have the knowledge to analyze this.

Yes. But I think that ASIC will be a bit cheaper than GPU rig (as GPU rig slightly cheaper than CPU. I mean KH per $).

I would hope so. It's really expensive and probably a loss to even try and build a new GPU rig for cryptonote right now, right?
newbie
Activity: 41
Merit: 0
September 04, 2016, 06:11:45 PM


Hash rate closing in on 40 million.

So it's only CPU and GPU mining right now. How many months/years until ASICs?

I always read it was "Asic-resistant", however IDK what that really means. I mean, couldn't someone develop an ASIC for cryptonote? Is anyone trying?


If I recall correctly from old video (or audio) with Fluffypony it is possible to make an ASIC for CN. Please correct me if I wrong.

What it is is that ASICs don't have a big advantage over GPUs and GPUs don't have a big advantage over CPUs.  When the price gets high enough the small advantage might make it financially feasible to design and manufacture ASICs.  I certainly don't have the knowledge to analyze this.

Yes. But I think that ASIC will be a bit cheaper than GPU rig (as GPU rig slightly cheaper than CPU. I mean KH per $).
legendary
Activity: 1624
Merit: 1008
September 04, 2016, 05:56:49 PM


Hash rate closing in on 40 million.

So it's only CPU and GPU mining right now. How many months/years until ASICs?

I always read it was "Asic-resistant", however IDK what that really means. I mean, couldn't someone develop an ASIC for cryptonote? Is anyone trying?


If I recall correctly from old video (or audio) with Fluffypony it is possible to make an ASIC for CN. Please correct me if I wrong.

What it is is that ASICs don't have a big advantage over GPUs and GPUs don't have a big advantage over CPUs.  When the price gets high enough the small advantage might make it financially feasible to design and manufacture ASICs.  I certainly don't have the knowledge to analyze this.
newbie
Activity: 41
Merit: 0
September 04, 2016, 05:39:11 PM
Hash rate closing in on 40 million.

Astounding. Everyone switching from ETH to XMR?

It seems to be true. But we need couple or several days to proove it (IMO).

Hash rate closing in on 40 million.

So it's only CPU and GPU mining right now. How many months/years until ASICs?

I always read it was "Asic-resistant", however IDK what that really means. I mean, couldn't someone develop an ASIC for cryptonote? Is anyone trying?


If I recall correctly from old video (or audio) with Fluffypony it is possible to make an ASIC for CN. Please correct me if I wrong.
full member
Activity: 227
Merit: 100
September 04, 2016, 05:17:01 PM
Finally a decent 15 minute bar on polo! I've been waiting several hours for this, can't say it's a breakout but it's the first real 15 minute volume for quite awhile at 2346 btc.

Edit: actually 2 in a row... both Green and the second volume at 2538 btc! Nice start!
legendary
Activity: 3570
Merit: 1959
September 04, 2016, 05:09:15 PM
Hash rate closing in on 40 million.

Astounding. Everyone switching from ETH to XMR?


Hash rate closing in on 40 million.

So it's only CPU and GPU mining right now. How many months/years until ASICs?

I always read it was "Asic-resistant", however IDK what that really means. I mean, couldn't someone develop an ASIC for cryptonote? Is anyone trying?
newbie
Activity: 41
Merit: 0
September 04, 2016, 04:58:53 PM
Hash rate closing in on 40 million.

So it's only CPU and GPU mining right now. How many months/years until ASICs?
legendary
Activity: 2968
Merit: 1198
September 04, 2016, 04:34:41 PM
Hash rate closing in on 40 million.
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