[XMR] Monero Speculation - page 1642.

dEBRUYNE

legendary

Activity: 2268

Merit: 1141

Quote from: Conurtrol on November 15, 2015, 09:00:36 AM

Why do people get all hot and bothered about the possibility of Zerocoin but are lukewarm (it seems) to the reality of Monero? ELI5 please.

I think this can be attributed to the hype Zerocoin created in 2013 (if I recall correctly), many people heard about it via various news outlets. Thus, the name ZeroCoin/ZeroCash is quite familiar for most people involved in the cryptocurrency atmosphere. In contrast, Monero is relatively new and has not been "advertised" much to the extent that there are basically no articles about it on major cryptocurrency outlets (e.g. Coindesk).

Conurtrol

sr. member

Activity: 478

Merit: 250

Why do people get all hot and bothered about the possibility of Zerocoin but are lukewarm (it seems) to the reality of Monero? ELI5 please.

RealBitcoin

hero member

Activity: 854

Merit: 1009

JAYCE DESIGNS - http://bit.ly/1tmgIwK

Quote from: iCEBREAKER on November 14, 2015, 10:09:54 PM

Quote from: newb4now on November 14, 2015, 09:53:02 PM

Quote from: ArticMine on November 14, 2015, 05:18:35 PM

I do not expect much to happen with Monero price wise until 0.9 comes out. After that there will likely be some action.

The wait will be worth it. This is a major update and I am happy the devs are testing it carefully.

Wow very understatement!

Monero 0.9 is the most epic update in the history of epic updates. Bigger than Windows 3.1 or anything else!

It will lay the foundation on which the rest of the roadmap can built out.

As of now, we're still in the surveying/permitting/concrete mixing phase.

But Soon....

I`m still waiting for a lightweight client, perhaps if you can get it touch with electrum's devs ,they could implement it.

Just my 2 moneros.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: BitmoreCoin on November 14, 2015, 06:25:20 PM

If the emission rate is fixed at 157,788 per year, then the inflation will be almost 0 after 20 years. But the paragraph above also mentioned less than 1% a year. I thought that inflation figure is fixed. So annual emission will increase although the rate is kept below 1%.

No, after 20 years the inflation rate won't change much at all. At 1% it would hypothetically take roughly 70 years to double the money supply thus reducing inflation in half. In fact it will take longer (because the percentage rate is decreasing each year).

The reduction in the rate of inflation is extremely slow and will at some point likely be exactly offset by the rate of lost coins, resulting in perpetual mining rewards but a real money supply that is effectively fixed. It sounds like a contradiction but it isn't. I describe this more precisely and estimate a possible ending money supply for Monero at 31 million here.

Quote from: thelibertycap

Monero is using doesn't suffer from the Tragedy of commons to the same degree as Bitcoin does

Correct, but to be fair Bitcoin also doesn't suffer the most severe form of it for 100+ years until the block subsidy run out entirely.

thelibertycap

full member

Activity: 211

Merit: 100

Quote from: BitmoreCoin on November 14, 2015, 06:25:20 PM

Quote from: dEBRUYNE on November 14, 2015, 08:24:20 AM

Quote from: tyz on November 14, 2015, 08:19:04 AM

i am not familiar with the coin production of Monero. How many coins will be created/mined over the next years. is there a graphic of coin creation over the complete horizon like for Bitcoin?

This should help you:

https://docs.google.com/spreadsheets/d/1qXi7zUSIh7F6UuSuhOryyFbHEy_LJuym3I3neAga_2s/edit?usp=sharing

https://upload.wikimedia.org/wikipedia/en/d/db/Monero_coin_supply_and_inflation_over_time.png

Furthermore, Monero has a perpetual inflation. That is, after all the initial coins are emitted, Monero has an inflation of ~1% a year. It's actually 0.3 XMR per block (blocktime is 1 minute (will be changed to 2 soon, but rewards will stay the same, so still 0.3 per minute)). Due to this formula, percentage wise the inflation gets lower every year.

Also, from the wikipedia:

Quote

Slowly decreasing block reward reaching approx 18.4 million XMR in 8 years,[1] and then a "tail emission" creates a constant increase in money supply amounting to 157,788 XMR per year (mining incentive). This corresponds to an inflation rate of 0.87% around the year 2022, monotonically decreasing towards 0% asymptotically. [2]/quote]

https://en.wikipedia.org/wiki/Monero_(cryptocurrency)

If the emission rate is fixed at 157,788 per year, then the inflation will be almost 0 after 20 years. But the paragraph above also mentioned less than 1% a year. I thought that inflation figure is fixed. So annual emission will increase although the rate is kept below 1%.

It should be pointed out that the low constant inflation model Monero is using doesn't suffer from the Tragedy of commons to the same degree as Bitcoin does.
http://bitcoin.stackexchange.com/questions/3111/will-bitcoin-suffer-from-a-mining-tragedy-of-the-commons-when-mining-fees-drop-t
Inflation ensures that mining, and thus network security, stays strong while transaction fees stay reasonable.

DonYo

sr. member

Activity: 432

Merit: 251

Nice ass

birr

hero member

Activity: 870

Merit: 585

monero to the moon! (for posteriority)

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: ArticMine on November 14, 2015, 10:29:14 PM

Quote from: mrkavasaki on November 14, 2015, 10:21:51 PM

Lol you guys are still ~~holding~~ accumulating moonero? Tongue

Yes some of us are. Quoted for posterity.

Fixed for posterity! Cheesy

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: mrkavasaki on November 14, 2015, 10:21:51 PM

Lol you guys are still holding moonero? Tongue

Yes some of us are. Quoted for posterity.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

It is a major release because it includes the completed development goals, including databases and 32bit / ARM support. It also includes the blocktime fork from 1 min to 2 min and the tail emission at 0.3 XMR (1 min blocks) 0.6 XMR (two min blocks). It will also be the first official release in over 11 months.

mrkavasaki

hero member

Activity: 888

Merit: 500

Lol you guys are still holding moonero? Tongue

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: newb4now on November 14, 2015, 09:53:02 PM

Quote from: ArticMine on November 14, 2015, 05:18:35 PM

I do not expect much to happen with Monero price wise until 0.9 comes out. After that there will likely be some action.

The wait will be worth it. This is a major update and I am happy the devs are testing it carefully.

Wow very understatement!

Monero 0.9 is the most epic update in the history of epic updates. Bigger than Windows 3.1 or anything else!

It will lay the foundation on which the rest of the roadmap can built out.

As of now, we're still in the surveying/permitting/concrete mixing phase.

But Soon....

newb4now

hero member

Activity: 686

Merit: 500

Quote from: ArticMine on November 14, 2015, 05:18:35 PM

I do not expect much to happen with Monero price wise until 0.9 comes out. After that there will likely be some action.

The wait will be worth it. This is a major update and I am happy the devs are testing it carefully.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: hudd on November 14, 2015, 07:27:33 PM

Quote from: ArticMine on November 13, 2015, 03:27:41 PM

I would expect about 70 min for a 200 GB HDD to refresh 100,000 blocks. Still I would not hold up 0.9 over this since there are simple fixes for a user.

I had to refresh from beginning with 820,000 blocks. Monero currently has low transaction volume, the coin has to prepare for the situation which significant adoption occurred and number of transaction shoot up 10 folds. In that case see the problem would be very serious with refreshing (together with syncing database and disk space usage).

How long did it take and what was the hardware? Namely: CPU, HDD / SSD drive RAM etc.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: hudd on November 14, 2015, 07:27:33 PM

I had to refresh from beginning with 820,000 blocks. Monero currently has low transaction volume, if we have would ever gain significant adoption and number of transaction shoot up 10 folds you'll see the problem with refreshing (together with syncing database and disk space usage).

Currently it does have low transaction volume. Early on it had huge transaction volume because the newly-developed pool software was very stupid in how it did payouts (every single miner no matter how small was paid out on every single block). Later there were two spam attacks. When refreshing from the beginning you will have to scan through that first several months with high volume before reaching the current, relatively low, volume.

hudd

newbie

Activity: 12

Merit: 0

Quote from: ArticMine on November 13, 2015, 03:27:41 PM

I would expect about 70 min for a 200 GB HDD to refresh 100,000 blocks. Still I would not hold up 0.9 over this since there are simple fixes for a user.

I had to refresh from beginning with 820,000 blocks. Monero currently has low transaction volume, the coin has to prepare for the situation which significant adoption occurred and number of transaction shoot up 10 folds. In that case see the problem would be very serious with refreshing (together with syncing database and disk space usage).

BitmoreCoin

sr. member

Activity: 406

Merit: 250

Quote from: dEBRUYNE on November 14, 2015, 08:24:20 AM

Quote from: tyz on November 14, 2015, 08:19:04 AM

i am not familiar with the coin production of Monero. How many coins will be created/mined over the next years. is there a graphic of coin creation over the complete horizon like for Bitcoin?

This should help you:

https://docs.google.com/spreadsheets/d/1qXi7zUSIh7F6UuSuhOryyFbHEy_LJuym3I3neAga_2s/edit?usp=sharing

https://upload.wikimedia.org/wikipedia/en/d/db/Monero_coin_supply_and_inflation_over_time.png

Furthermore, Monero has a perpetual inflation. That is, after all the initial coins are emitted, Monero has an inflation of ~1% a year. It's actually 0.3 XMR per block (blocktime is 1 minute (will be changed to 2 soon, but rewards will stay the same, so still 0.3 per minute)). Due to this formula, percentage wise the inflation gets lower every year.

Also, from the wikipedia:

Quote

Slowly decreasing block reward reaching approx 18.4 million XMR in 8 years,[1] and then a "tail emission" creates a constant increase in money supply amounting to 157,788 XMR per year (mining incentive). This corresponds to an inflation rate of 0.87% around the year 2022, monotonically decreasing towards 0% asymptotically. [2]/quote]

https://en.wikipedia.org/wiki/Monero_(cryptocurrency)

If the emission rate is fixed at 157,788 per year, then the inflation will be almost 0 after 20 years. But the paragraph above also mentioned less than 1% a year. I thought that inflation figure is fixed. So annual emission will increase although the rate is kept below 1%.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

I do not expect much to happen with Monero price wise until 0.9 comes out. After that there will likely be some action.

TrueCryptonaire

legendary

Activity: 1092

Merit: 1000

Good to have CKG giving some pressure.
Some CKG dumps every now and then makes XMR stronger as people want to acquire an asset for discount and in order to do that they need to buy some additional Moneros.

Other merchants that store and tie up tons of Moneros would be welcome... Ideally some digital ones that do not put selling pressure on Monero markets but rather hoard excessive amounts of Moneros.

rpietila

donator

Activity: 1722

Merit: 1036

CKG hit parity against XMR (in which it is priced) and now is already 1.25 XMR.

Which aint too bad considering that for months you could buy it for <0.1 XMR...

Even a rather small uptick in CKG causes a ripple effect in XMR which is required to buy it.

Topic: [XMR] Monero Speculation - page 1642. (Read 3313576 times)