Topic: [XMR] Monero Speculation - page 1448. (Read 3313576 times)
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined.What are they smoking?
I asked. They seem to not consider ICOs as premines and "significantly premined" means a "large" amount like 50%+
That's one way to put it. Probably CK is swallowed whole by their methodology as well...
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined.What are they smoking?
I am actually more interested in how FinCEN will deal with the Ethereum premine given what happened with Ripple.
As far as I know, premine is not a crime under any legislation. In the stock markets, all the stocks are also created out of thin air and the companies get their initial funding by issuing their stocks for traders and investors.
It is an investor who decides wether to buy or not to buy the stock or coin.
Of course, but public offerings of stocks are heavily regulated.
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined.What are they smoking?
I am actually more interested in how FinCEN will deal with the Ethereum premine given what happened with Ripple.
As far as I know, premine is not a crime under any legislation. In the stock markets, all the stocks are also created out of thin air and the companies get their initial funding by issuing their stocks for traders and investors.
It is an investor who decides wether to buy or not to buy the stock or coin.
GADOOOOSH
From this:
https://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html
"An administrator is a person engaged as a business in issuing (putting into circulation) a virtual currency, and who has the authority to redeem (to withdraw from circulation) such virtual currency."
Users of Virtual Currency
"A user who obtains convertible virtual currency and uses it to purchase real or virtual goods or services is not an MSB under FinCEN's regulations.8 Such activity, in and of itself, does not fit within the definition of "money transmission services" and therefore is not subject to FinCEN's registration, reporting, and recordkeeping regulations for MSBs.9"
So by "putting into circulation" the initial Ether... they may fall under the "administrator" category.... and it pretty much looks like it was a straight up pre-mine.
https://www.cryptocoinsnews.com/ether-fuel-ethereum-project-can-now-pre-ordered/
edited to add - of course this is all US law, so now idea how it spells out internationally yada yada yada.
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined.What are they smoking?
I am actually more interested in how FinCEN will deal with the Ethereum premine given what happened with Ripple.
As far as I know, premine is not a crime under any legislation. In the stock markets, all the stocks are also created out of thin air and the companies get their initial funding by issuing their stocks for traders and investors.
It is an investor who decides wether to buy or not to buy the stock or coin.
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined.What are they smoking?
I am actually more interested in how FinCEN will deal with the Ethereum premine given what happened with Ripple.
It's a certainty that there will be repercussions and fines down the road but hard to gauge the extent of it (and possibly with zcash as well). I think I might have seen a post from TPTB to that effect too (vis-a-vis ETH & zcash) but it's hard to keep track of his posts.
I asked. They seem to not consider ICOs as premines and "significantly premined" means a "large" amount like 50%+
Thanks for saving our time. I guess we shouldn't be bothered. Perhaps they can have some form of asterisks/markings for ICOs but they seem to be enjoying their name for now.
Eschew CMC, embrace CoinGecko.
Cool site, thanks for the info.
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined.What are they smoking?
I am actually more interested in how FinCEN will deal with the Ethereum premine given what happened with Ripple.
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined. What are they smoking?
For one glorious hour or so, CMC recognized Dash as **premined. Then some highly influential DashHole made a phone call, and the brief encounter with honesty ended.
CMC = CoinTelegraph = Bytecoin/Dash/etc. scammers. Never Forget.
A Scam Accusation thread for Gliss is long overdue....
He knows Dash was effectively premined, but hides behind semantics and technicalities to avoid stating that truth, preferring instead to list Dash among fairly launched (ie non-instamined) coins.
Eschew CMC, embrace CoinGecko.
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined.What are they smoking?
I asked. They seem to not consider ICOs as premines and "significantly premined" means a "large" amount like 50%+
It's a travesty that Coinmarketcap would not categorize ETH as significantly premined.What are they smoking?
Am I the only one that thinks is good bot nets are securing the network?
No, some other guy also thought that might happen
The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.
LOL, I meant XMR but that certainly pertains! thanks Smooth.
Quote
>> As long as honest nodes control the most CPU power on the network,
>> they can generate the longest chain and outpace any attackers.
>
>But they don't. Bad guys routinely control zombie farms of 100,000
>machines or more. People I know who run a blacklist of spam sending
>zombies tell me they often see a million new zombies a day.
>
>This is the same reason that hashcash can't work on today's Internet
>-- the good guys have vastly less computational firepower than the bad
>guys.
Thanks for bringing up that point.
I didn't really make that statement as strong as I could have. The requirement is that the good guys collectively have more CPU power than any single attacker.
There would be many smaller zombie farms that are not big enough to overpower the network, and they could still make money by generating bitcoins. The smaller farms are then the "honest nodes". (I need a better term than "honest") The more smaller farms resort to generating bitcoins, the higher the bar gets to overpower the network, making larger farms also too small to overpower it so that they may as well generate bitcoins too. According to the "long tail" theory, the small, medium and merely large farms put together should add up to a lot more than the biggest zombie farm.
Even if a bad guy does overpower the network, it's not like he's instantly rich. All he can accomplish is to take back money he himself spent, like bouncing a check. To exploit it, he would have to buy something from a merchant, wait till it ships, then overpower the network and try to take his money back. I don't think he could make as much money trying to pull a carding scheme like that as he could by generating bitcoins. With a zombie farm that big, he could generate more bitcoins than everyone else combined.
The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.
Satoshi Nakamoto
>> they can generate the longest chain and outpace any attackers.
>
>But they don't. Bad guys routinely control zombie farms of 100,000
>machines or more. People I know who run a blacklist of spam sending
>zombies tell me they often see a million new zombies a day.
>
>This is the same reason that hashcash can't work on today's Internet
>-- the good guys have vastly less computational firepower than the bad
>guys.
Thanks for bringing up that point.
I didn't really make that statement as strong as I could have. The requirement is that the good guys collectively have more CPU power than any single attacker.
There would be many smaller zombie farms that are not big enough to overpower the network, and they could still make money by generating bitcoins. The smaller farms are then the "honest nodes". (I need a better term than "honest") The more smaller farms resort to generating bitcoins, the higher the bar gets to overpower the network, making larger farms also too small to overpower it so that they may as well generate bitcoins too. According to the "long tail" theory, the small, medium and merely large farms put together should add up to a lot more than the biggest zombie farm.
Even if a bad guy does overpower the network, it's not like he's instantly rich. All he can accomplish is to take back money he himself spent, like bouncing a check. To exploit it, he would have to buy something from a merchant, wait till it ships, then overpower the network and try to take his money back. I don't think he could make as much money trying to pull a carding scheme like that as he could by generating bitcoins. With a zombie farm that big, he could generate more bitcoins than everyone else combined.
The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.
Satoshi Nakamoto
anything 0.9 and above is a-ok.
Roughly 6.5 days until the hard fork
Anything someone running the CLI wallet needs to do?
I think as long as you're on v0.9.x you are fine.
Can anyone confim? Running 0.9.1. Am I good for the fork?
XMR up, ETH down.
For a while you guys may have noticed xmr has been sort of linked to eth. It looks like we are finally breaking out of that trend and it may be monero's next leg up in these bullish times.
Wow, XMR just jumped to #7 on coinmarketcap, helped by bitshares and factom both dropping 25%.
If XMR rises another 21%, and DOGE falls the same amount, it will be at 6.
If XMR rises another 21%, and DOGE falls the same amount, it will be at 6.
Monero was mentioned before on /r/monero as an alternative to mixers but the article at 99bitcoins is the first time I have seen it mentioned at a mainstream bitcoin magazine. Good article BTW but I doubt you will see the DNM switch from bitcoin as XMR is too complicated. If it should happen it will be big news at DeepDotWeb.
The 99BTC article could have mentioned Peter Todd and GMax use XMR "for privacy." I doubt the writer was unaware of that pertinent fact.
DNM will proactively switch to XMR on/off ramps sooner, or reactively switch later, when their operators/investors and their customers/vendors start being put in jail due to blockchain analysis.
Now that shapeshift-like services are a thing, the only barriers to adoption are lack of a GUI wallet and multi-sig.
Tick...tick...tick...
BOOOOOOMERO
Am I the only one that thinks is good bot nets are securing the network?
No, some other guy also thought that might happen
The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.
KABOOOOOOM
I love the sound of legit coins such as Monero taking off, while the Maid and Dash scams implode into great bloody heaps of FAIL.
Today's 99bitcoins article basically endorses Monero as the best way to unlink/untaint Bitcoins, and that site gets a TON of traffic from their ingenious/hilarious BitcoinObituaries.com redirect (as well as the well written and informative content).
It will take time for the article to be passed around, read, and acted upon. Plus more time for receptive readers to move their BTC to Polo and buy coins. But the resulting long BOOOOOOOOOM has already started.
How long until most DMN stop sending/receiving BTC directly, and only use shapeshifted XMR for in/out flows? Soon? Two Weeks?
ATH and oz/silver parity parties to be held at Monero Manor and Monero Mountain!
I sometimes peruse r/DarkNetMarkets for lulz and noticed some awareness about Monero here because of that article.
https://www.reddit.com/r/DarkNetMarkets/comments/4aoizf/the_complete_guide_to_using_bitcoin_anonymously/
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