[XMR] Monero Speculation - page 1532.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: BlindMayorBitcorn on February 19, 2016, 11:47:31 PM

...

What does it mean? Huh

It is mentioned in the Cryptonote White Paper https://cryptonote.org/whitepaper.pdf section 6.2.2. (Please note that the formula quoted there is for the Penalty not the NewReward). This is a fundamental difference from Bitcoin. I covered this issue further back. https://bitcointalksearch.org/topic/m.13591241. Also the tail emission is needed here since without a base emission to penalize the penalty function will not work. Most people think of Monero as an Anonymity / Privacy / Fungibility coin, but this blocksize scaling issue is critically important.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: BlindMayorBitcorn on February 19, 2016, 11:47:31 PM

Quote from: ArticMine on February 19, 2016, 11:41:57 PM

Quote from: BlindMayorBitcorn on February 19, 2016, 11:01:17 PM

...
If the issue is scaling, it effects us all eventually. If we're lucky. Wink

No. There is a fundamental difference here between Bticoin and Monero. Monero has an adaptive blocksize limit that can scale with market demand by increasing supply for a price, while Bitcoin does not. In Bitcoin's case it does not matter that processing power, bandwidth, storage costs etc plunge in real price as they have over the last 60 years the blocksize is still fixed and requires a hard fork in order to change it. Bitcoin has hard coded the current technology into the protocol while Monero has not.

I always come back to the credit card analogy. It is like expecting the current transaction levels of the VISA network to work using the tabulating machine and punched card technology of the late 1940's / early 1950's. This is when the the Diners Club payment card was conceived and the first cards were issued. Bitcoin can easily become the Diner's Club of crypto-currency, while Monero at least is not prevented from becoming the VISA or MasterCard of crypto-currency.

What does it mean? Huh

It means exactly what he said. The block size is dynamic and it requires someone (users and/or miners) to pay a penalty to incentivize increasing it. So only with increasing demand and activity does it make sense to increase the block size, and with increasing demand and activity it probably does make sense to increase it (balanced against the resource costs of doing so). This excludes malicious attackers with >50% of the hash rate, but of course we all know they have plenty of ways to attack a coin if they want to.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: TrueCryptonaire on February 19, 2016, 11:45:21 PM

To me it looks like in 2016 Monero has resurrected from the death.

Death is taking things way to far. Monero has been at worst in the top 15-20 market cap coins (out of hundreds and probably 50-100 with at least somewhat active development) for virtually its lifetime and that is including some absurdly fake market caps among those above it. Monero also has always had very active development.

Not having a lot of fireworks every day is not at all the same as dead. Have a little patience.

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: ArticMine on February 19, 2016, 11:41:57 PM

Quote from: BlindMayorBitcorn on February 19, 2016, 11:01:17 PM

...
If the issue is scaling, it effects us all eventually. If we're lucky. Wink

No. There is a fundamental difference here between Bticoin and Monero. Monero has an adaptive blocksize limit that can scale with market demand by increasing supply for a price, while Bitcoin does not. In Bitcoin's case it does not matter that processing power, bandwidth, storage costs etc plunge in real price as they have over the last 60 years the blocksize is still fixed and requires a hard fork in order to change it. Bitcoin has hard coded the current technology into the protocol while Monero has not.

I always come back to the credit card analogy. It is like expecting the current transaction levels of the VISA network to work using the tabulating machine and punched card technology of the late 1940's / early 1950's. This is when the the Diners Club payment card was conceived and the first cards were issued. Bitcoin can easily become the Diner's Club of crypto-currency, while Monero at least is not prevented from becoming the VISA or MasterCard of crypto-currency.

What does it mean? Huh

TrueCryptonaire

legendary

Activity: 1092

Merit: 1000

To me it looks like in 2016 Monero has resurrected from the death.
A lot of new people commenting here, the price trendline is turning into bullish (for obvious reasons).
We might see pretty hefty price tag on Monero a couple years from now. However, still Monero is cheap like crab. Definetely Monero is a great buy at any price under 100 usd per coin. Later once people outside of crypto discovers it, the good buying point is in thousands of dollars etc.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: BlindMayorBitcorn on February 19, 2016, 11:01:17 PM

...
If the issue is scaling, it effects us all eventually. If we're lucky. Wink

No. There is a fundamental difference here between Bticoin and Monero. Monero has an adaptive blocksize limit that can scale with market demand by increasing supply for a price, while Bitcoin does not. In Bitcoin's case it does not matter that processing power, bandwidth, storage costs etc plunge in real price as they have over the last 60 years the blocksize is still fixed and requires a hard fork in order to change it. Bitcoin has hard coded the current technology into the protocol while Monero has not.

I always come back to the credit card analogy. It is like expecting the current transaction levels of the VISA network to work using the tabulating machine and punched card technology of the late 1940's / early 1950's. This is when the the Diners Club payment card was conceived and the first cards were issued. Bitcoin can easily become the Diner's Club of crypto-currency, while Monero at least is not prevented from becoming the VISA or MasterCard of crypto-currency.

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: ArticMine on February 19, 2016, 10:33:42 PM

Quote from: BlindMayorBitcorn on February 19, 2016, 10:28:46 PM

...
I heard Core's planning a hard fork to 2MB max block size for 2017. Did I hear wrong?

Yes this will buy Bitcoin some time, but the fundamental underlying issue still remains unresolved.

If the issue is scaling, it effects us all eventually. If we're lucky. Wink

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: americanpegasus on February 19, 2016, 10:15:48 PM

In honor of our 666th page of our speculation topic, I'm going to make the following speculatory proclamation:

LAST CHANCE TO BUY MONERO FOR LESS THAN 200k SATOSHI... EVER.

BLESSED CHILDREN EAT ADULTS.
Until Word is Evil, for it transcends,
contradicts and debunks their pedantic academic
brainwashing, indoctrination and Educator taught
Tower of Babble.
********************************************
Nature outlaws word gods. Cubeless word is a
Trojan Horse. Singularity debunked by Time
Cube. 'Cube Spirit' is Almighty. Educators
are too damn stupid to know 4/16 Cube.
There is no Cubic teacher.
***************
Educators are evil people - for it debunks false
gods. Test Your God. Time Cube contradicts
god. Nature's Time Cube exposes evil.
Cubelessness is a counterfeit and fictitious evil
upon children. Teachers are hired evil word
worshiper. Humans are educated stupid and
indoctrinated evil. A pity about your mind.

LOL, Was just skimming your post when I looked at the TV and on the TV a guy grabs a Demon mask and puts it on and shoots a guy. Talk about coincidental timing. Watching stan.lees.lucky.man.s01e05 .

cAPSLOCK

legendary

Activity: 3766

Merit: 5146

Note the unconventional cAPITALIZATION!

Quote from: americanpegasus on February 19, 2016, 10:15:48 PM

In honor of our 666th page of our speculation topic, I'm going to make the following speculatory proclamation:

LAST CHANCE TO BUY MONERO FOR LESS THAN 200k SATOSHI... EVER.

BLESSED CHILDREN EAT ADULTS.
Until Word is Evil, for it transcends,
contradicts and debunks their pedantic academic
brainwashing, indoctrination and Educator taught
Tower of Babble.
********************************************
Nature outlaws word gods. Cubeless word is a
Trojan Horse. Singularity debunked by Time
Cube. 'Cube Spirit' is Almighty. Educators
are too damn stupid to know 4/16 Cube.
There is no Cubic teacher.
***************
Educators are evil people - for it debunks false
gods. Test Your God. Time Cube contradicts
god. Nature's Time Cube exposes evil.
Cubelessness is a counterfeit and fictitious evil
upon children. Teachers are hired evil word
worshiper. Humans are educated stupid and
indoctrinated evil. A pity about your mind.

Holy fuck. Did you drink a bottle of Dr Bronners Castile Soap while listening to Aphrodite's Child or what?

americanpegasus

hero member

Activity: 770

Merit: 504

Quote from: BlindMayorBitcorn on February 19, 2016, 10:28:46 PM

I heard Core's planning a hard fork to 2MB max block size for 2017. Did I hear wrong?

I heard they've finally got tired of Saruman chopping them down.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: BlindMayorBitcorn on February 19, 2016, 10:28:46 PM

...
I heard Core's planning a hard fork to 2MB max block size for 2017. Did I hear wrong?

Yes this will buy Bitcoin some time, but the fundamental underlying issue still remains unresolved.

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: ArticMine on February 19, 2016, 10:18:14 PM

Quote from: iCEBREAKER on February 19, 2016, 10:14:28 PM

...

FUD all you like. Honey Badger is antifragile. You can't make him give a shit.

That is a feature, not a bug.

The market will be the ultimate judge of this.

I heard Core's planning a hard fork to 2MB max block size for 2017. Did I hear wrong?

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: iCEBREAKER on February 19, 2016, 10:14:28 PM

...

FUD all you like. Honey Badger is antifragile. You can't make him give a shit.

That is a feature, not a bug.

The market will be the ultimate judge of this.

americanpegasus

hero member

Activity: 770

Merit: 504

In honor of our 666th page of our speculation topic, I'm going to make the following speculatory proclamation:

LAST CHANCE TO BUY MONERO FOR LESS THAN 200k SATOSHI... EVER.

BLESSED CHILDREN EAT ADULTS.
Until Word is Evil, for it transcends,
contradicts and debunks their pedantic academic
brainwashing, indoctrination and Educator taught
Tower of Babble.
********************************************
Nature outlaws word gods. Cubeless word is a
Trojan Horse. Singularity debunked by Time
Cube. 'Cube Spirit' is Almighty. Educators
are too damn stupid to know 4/16 Cube.
There is no Cubic teacher.
***************
Educators are evil people - for it debunks false
gods. Test Your God. Time Cube contradicts
god. Nature's Time Cube exposes evil.
Cubelessness is a counterfeit and fictitious evil
upon children. Teachers are hired evil word
worshiper. Humans are educated stupid and
indoctrinated evil. A pity about your mind.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: BlindMayorBitcorn on February 19, 2016, 09:59:14 PM

...

What about Confidential Transactions and side chains? Won't this put a damper on the demand for alts like XMR?

Is a Blockstream vs. Monero war in our future?? Huh

Ring Confidential Transactions (RingCT) will come to Monero. I consider this not a matter of if but when. It will also bring ring multisignature transactions. See Section 4.4 of https://lab.getmonero.org/pubs/MRL-0005.pdf. I very much doubt that there will be a war between Blockstream and. Monero war in our future, since in order for the Blockstream technology to have any significant adoption on Bitcoin, Bitcoin still needs to address the blocksize scaling issue.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: ArticMine on February 19, 2016, 09:11:56 PM

Quote from: americanpegasus on February 19, 2016, 09:00:01 PM

...

This is my new favorite blanket question to whenever Bitcoin maximalists say things like...

SIDECHAINS!
LIGHTNING NETWORK!
PRIVATE ADDRESSES!
MAGMA BLASTS!
ICE CRYSTALS!

...are going to make Monero obselete. It's the "Satoshi's Coin's Test". Will this let Satoshi move his coins without anyone knowing? If the answer is no, I'm happy for you, but leave me alone.

There is actually a even simpler answer to the above: 1 MB blocksize limit.

FUD all you like. Honey Badger is antifragile. You can't make him give a shit.

That is a feature, not a bug.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: BlindMayorBitcorn on February 19, 2016, 09:59:14 PM

Quote from: iCEBREAKER on February 19, 2016, 09:49:35 PM

Quote from: Hueristic on February 19, 2016, 08:12:03 PM

I think we are gonna hit a new high soon but I wish we tanked for awhile until that wall douchbag dumps. I won't be buying for awhile.

I don't recommend trying to time the market, especially a particular market so arguably distorted by underpricing as Monero's.

Just buy your ticket, get on the train, and play on your smart-phone until it leaves the station.

Don't sit in the bar rationalizing just one more tasty margarita, because you might not have time to take care of the check when the all-aboard whistle blows.

What about Confidential Transactions and side chains? Won't this put a damper on the demand for alts like XMR?

Not at all. CT validates the idea there is an important distinction between (trivial) protocol-level fungibility and "100%" fungibility as commonly understood above and beyond the protocol, in the greater socioeconomic context.

Specific to XMR, Shen's work extending CT for use with ring signatures (RingCT) demonstrates the Monero Research Lab is a cryptographic powerhouse.

Besides ETH's binary sharding Patricia Trees, Monero's RingCT is the hottest (unclassified) tech in crypto. And it is the more firmly grounded, less speculative/experimental/ambitious of the two.

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: iCEBREAKER on February 19, 2016, 09:49:35 PM

Quote from: Hueristic on February 19, 2016, 08:12:03 PM

I think we are gonna hit a new high soon but I wish we tanked for awhile until that wall douchbag dumps. I won't be buying for awhile.

I don't recommend trying to time the market, especially a particular market so arguably distorted by underpricing as Monero's.

Just buy your ticket, get on the train, and play on your smart-phone until it leaves the station.

Don't sit in the bar rationalizing just one more tasty margarita, because you might not have time to take care of the check when the all-aboard whistle blows.

What about Confidential Transactions and side chains? Won't this put a damper on the demand for alts like XMR?

Is a Blockstream vs. Monero war in our future?? Huh

kanazawa

hero member

Activity: 756

Merit: 500

I just want to say that Monero is a top notch currency, I believe in Monero since the beginning of this very full of information thread... I don't post anything here because it seems heavily technical, but I'm pretty happy to exchange a large amount of btc to Monero. I like altcoins like Monero and Ethereum (didn't bought ETH, just use graphic card to mine some). I bought 700XMR more than a year ago (price almost doubled) and it's so fuc**** cool to watch this moment Cheesy

A Big Hail to Monero !!!

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: Hueristic on February 19, 2016, 08:12:03 PM

I think we are gonna hit a new high soon but I wish we tanked for awhile until that wall douchbag dumps. I won't be buying for awhile.

I don't recommend trying to time the market, especially a particular market so arguably distorted by underpricing as Monero's.

Just buy your ticket, get on the train, and play on your smart-phone until it leaves the station.

Don't sit at the bar rationalizing just one more tasty margarita, because you might not have time to take care of the check when the all-aboard whistle blows.

Topic: [XMR] Monero Speculation - page 1532. (Read 3313576 times)