Topic: [XMR] Monero Speculation - page 1202. (Read 3314325 times)

Hmm... Lots of folks asking me how to buy XMR lately.  I always start with "first, get some bitcoin..."

Will XMR reverse bitcoin's slide?  

I always end with "or just buy them from me at market rates.". About half prefer the exploration, and the other half prefer the trust and convenience of buying from me.

I've been here since before block 200k. Not as early as some but it's felt like an eternity of sitting patiently reminding myself of fundamentals.

Just realized in 2 days its the two year anniversary of this thread! Congrats @Smooth and everyone else who was here from the beginning - thank you for everything

And similar to dark energy it's impossible to pinpoint where it's coming from. The actual dark market, or people speculating on its use there.

But if it gains critical mass, there'll be a feedback loop and it won't matter who started it.

Thanks.  I was on that mining thread yesterday and didn't find it all that illuminating regarding my above post...  I suppose I could have posted there.  Should I cross post or delete and repost?

http://themerkle.com/monero-becomes-the-darling-cryptocurrency-of-the-darknet/

1000 pages, wow. Congrats everyone.

https://bitcointalksearch.org/topic/xmr-monero-mining-653467

https://bitcointalksearch.org/topic/xmr-what-hardware-and-software-do-you-use-to-mine-the-monero-xmr-1035694

https://bitcointalksearch.org/topic/bounty-for-open-sourced-xmrcryptonight-gpu-miner-bounties-thread-656841

I hope this is considered "on topic".  I've been mining Eth/Etc/Sia for the past few months.  Currently I'm mining Eth/Sia at around 1.5 Eth/day and 6000 Sia/day.  Sia pretty much pays for the power, so the $20 (CAD) per day with my nine GPUs is doing well enough.

Came across info the other day on Xmr for the first time -- the principles of design intrigue me and if it were reasonably profitable it would potentially be something I would mine a little more seriously.  So yesterday for a simple trial I set up the minergate GUI and also the minergate CLI and found that the performance was fairly poor on the mining rigs, and it was hitting the GPU performance of the Claymore dual mining (naturally enough, that was not unexpected.)  So I've been running it CPU-only on a couple or three boxes off and on for the past 24 hours and I've found the hashrate of around 130 h/s to be very low and probably is not even paying for the additional power consumption on the CPUs.

So my question is general: Is there a way to GPU/CPU mine this coin in a way that is profitable, or at least relatively profitable as compared to Eth and Etc?  What kind of hashrate would I need to do about $15-$20 USD per day?  To achieve that kind of hashrate, what kind of hardware would be recommended and what kind of power consumption would a person be looking at?  I know these are general questions, but I'm curious what miners are doing with this coin -- how they are setting up to make it profitable...?

Thank you so much if anyone can answer or point me in the direction of materials that might answer these questions.

Myth of complete anonymity: It is pertinent to mention at the outset that the identity of the parties on a block-chain is not completely anonymous. The block-chain is a public ledger keeping a public account of all transactions which can be used by governments to track unusual and potentially illegal activities. In fact, block-chains are better than traditionally executed contracts which are not so easy to track.

Scholars like C. Smith have pointed out how cryptocurrency-transactions generate sufficient public data accessible by investigators on the blockchain, which connects transactions to sales and ultimately to sellers. Suppose there is an online platform for the sale of drugs, powered by the bitcoin. Buyers, sellers as well as law enforcement agencies can access this website. Granted, the buyers as well as sellers utilize anonymous signatures, but that alone does not allow them to escape recognition. Every transaction on this website shall be authenticated by ‘miners’, who are volunteers earning cryptocurrency in exchange for their services. Miners are able to determine the amount each buyer paid to the seller, and this information is publicly accessible on the blockchain. Equipped with this information, law enforcement agencies can work on tracking the IP address of the seller to identify him, and restore law and order.” (Im guessing XMR comes into play here?)

State practice: State practice also definitively reveals that blockchains can be surveilled. Australia has a nuanced system in place. The FBI in the US also effectively tracks down perpetrators of illegal activity on the block-chain network, and Ross Ulbricht’s arrest for ‘Silk Road’, an illegal drug empire built on Bitcoins, is a case in point. The Czech police too has means of tracking perpetrators, as demonstrated by the seizing of Tomáš Jiříkovský’s assets, who was suspected of using cryptocurrency to launder money. Recently, the European Cyber-Crime Centre has also taken steps to track and arrest perpetrators of crimes on block-chains, by partnering with Chainanalysis. These examples are a few of many which demonstrate that the block-chain technology can indeed be surveilled upon, and utilised to track perpetrators of crimes. 

It is true that the practice of some states such as Bangladesh, Bolivia and Russia lends support to banning of cryptocurrency (and hence, smart contracts) due to its possibility for misuse. However, most electronic systems do present undeniable possibilities for misuse, but that per se is no grounds for refraining from granting them recognition, or declaring them illegal. Technology such as wire transfers, cash withdrawal and deposit facilities are widely used to deal in black money, launder funds and finance terrorism. These activities have been criminalised and states have put tracking and pattern-detection facilities in place, but the banking platforms themselves are not illegal. In fact, these platforms are widely used by the public due to their advantages and convenience of use.

India can follow in the footsteps of countries such as Canada, Hong Kong etc, and legislate to declare activities like money-laundering, financing of terrorism and drug trafficking using block-chains illegal, and put tracking mechanisms in place to fulfil its international obligations. Omri Marian, the eminent cryptocurrency publicist, also emphasises the great innovation potential of cryptocurrency transactions, and provides noteworthy models for regulation.

Well it really gets into the Fermi paradox.  We know there must be a lot of NVidia cards out there mining Monero - simple math would suggest it to be true.  But where are they?  And why haven't they funded development of a better miner?

BITCOIN SEIZURES ON THE RISE:


1. http://www.newsbtc.com/2016/08/16/340000-euro-worth-bitcoin-seized-darknet-bust/

2. http://fortune.com/2016/08/08/government-seized-bitcoin-auction/

3. http://www.coindesk.com/new-york-police-win-fincen-award-bitcoin-investigation/

4. http://www.sciencemag.org/news/2016/03/why-criminals-cant-hide-behind-bitcoin

http://imgur.com/a/n4a0P


POSTS ON BITCOIN + ANONYMITY BY SATOSHI:

https://bitcointalksearch.org/topic/repost-how-anonymous-are-bitcoins-8

https://bitcointalksearch.org/topic/questions-about-bitcoin-13
https://bitcointalk.org/index.php?topic=7.new#new

wish satoshi was here...

68% of the valuation of XMRBTC is theorized to consist of dark market energy.

Oh god... here we go again with your bearishness.  First Bullish, then Bearish... until your Bullish the next week again.

...

Rinse, repeat.

Here's to your classic discovery of such modifications:

https://bitcointalksearch.org/topic/m.12707479

Good times... 

Monero thread is like the Universe: First expansion, then contraction.

Posting on historic 1000th page of the Monero Speculation topic.  I predict a vicious, though short battle for the magic post at the top.  
  
This topic is like a limited blockchain - you can selectively modify what's happened before by deleting your old posts, but that's about it.  
  
A lot has changed in the last 500 pages.... Here's looking forward to our inevitable 2000th page.

Originally published at https://www.reddit.com/r/DarkNetMarkets/comments/4yv1dc/oasis_we_now_accept_monero_xmr/

One delete away from taking that spot from you!

I speculate banana's for once.




http://www.dailymotion.com/video/x2s8rjl

Happy 1000 once more.

The next few weeks replayed:-

https://www.youtube.com/watch?v=RxabLA7UQ9k