XMR ... needs about $40k injection a day to keep the price stable

Okurkabinladin

hero member

Activity: 574

Merit: 506

Quote from: robinwilliams on September 19, 2014, 09:43:59 AM

From the rpetlia altcoin observer (felt like it deserved it's own unmoderated thread)

Quote

XMR generates 1440 blocks a day, it needs about $40k injection a day to keep the price stable. The coin is not adopted/used widely. The only out of exchange transaction I know of is one guy paid XMR to an artist and the artist paid rent to landlord.

This is yet ANOTHER reason this thing is a walking time bomb.

You have no idea, what you are talking about.

1) 20k coins are mined every day now. With current price level, that would require just under 30k USD a day to keep the price stable.

2) Above would be applicable ONLY IF ALL MINED COINS WERE SOLD all the time by miners, that is not the case with monero, or litecoin or bitcoin for that matter.

3) For the above reasons, steady flow of 40k per day would actually initiate price spike (ie bubble), not a stabilization.

damiano

legendary

Activity: 1246

Merit: 1000

103 days, 21 hours and 10 minutes.

Quote from: ?? on ??

This is why PoS is superior.

PoW is only good if you have a really big community that cares.

Simple yet well thought out statement. I couldn't agree more.

Bitcoin, Litecoin and Darkcoin are the only ones currently with POW that I can see with big communities and they are struggling ATM.

Well Darkcoin has managed to bounce back. Bitcoin and Litecoin don't look so hot right now..

bitwho

legendary

Activity: 1274

Merit: 1000

please dont be rediculous.

POS = buy only way to get in. Every single POS holder is a miner.

if your faulting POW for its miners then its ironic when your POS turns every single one into a "miner" . At least with POW you would have to go extra step to really become a miner. You have to invest soem real $$. With POS you dont have to do jack. You basically mine Coins for free os the moment your POS increases in price you would have the whole network looking to sell to gain some profit.

Not to mention in POS you only get in via buying. In POW you can buy and mine it. Double the gateways to enter it.

also since %20-30 of coins are always in an exchange you're prompt to easily get %51 by the exchanges.

Bitcoin/alt buying is popular here but mostly is done by few places. If i am somewhere in bumfuck i can't buy btcs easy and i can not buy POS coins. But i can order a mining equipment and with in a week be able to mine POW coins.

no thanks jef.

OrientA

sr. member

Activity: 462

Merit: 250

XMR generates 1440 blocks a day, it needs about $40k injection a day to keep the price stable. The coin is not adopted/used widely. The only out of exchange transaction I know of is one guy paid XMR to an artist and the artist paid rent to landlord.

Therefore, the 1 minute block time is not necessary at this phase of the coin. We can wait much longer than 1 min to send/receive the coin to/from exchange.

We can increase the block time to say, 10 min. That should be enough for the current situation. We will generate 144 block and need $4k to keep price stable. As the coin get used widely, we can reduce gradually block time to 1 min, e.g. 1 min less every 3 months. This will also reduce the problem of block bloat.

This will increase the distribution time of the coin. Late comers will benefit.

The block reward can be the same as present schedule, which reduce constantly.

This shall apply to other new coins as well.

robinwilliams

member

Activity: 112

Merit: 10

From the rpetlia altcoin observer (felt like it deserved it's own unmoderated thread)

Quote

XMR generates 1440 blocks a day, it needs about $40k injection a day to keep the price stable. The coin is not adopted/used widely. The only out of exchange transaction I know of is one guy paid XMR to an artist and the artist paid rent to landlord.

This is yet ANOTHER reason this thing is a walking time bomb.

Topic: XMR ... needs about $40k injection a day to keep the price stable (Read 920 times)