I think it is a good deal to have a GUI wallet before going for large scale PR outside of the hard core crypto community. So this may be a bit premature.

True although the blockchain doesn't have to be on the same machine as the miner even if you are solo mining. You can run one daemon on your network and have a bunch of miners connect to it.

I would tend to take their response at face value only because of the technical challenges of integrating it. They can integrate 100 shitcoins for the same effort as integrating MRO. However, I also agree they may change their mind when they see how much activity is has on the other exchanges.

I agree, I love my Mintbox. I have no idea if it makes a good Monero miner (haven't tried -- it is being used for something else) but as a general mid-range computer with all the advantages you mentioned they are amazing.

Or

transfer some number other than 0 amount

if you want the payment to be untraceable. With 0 you aren't doing any mixing.

No, do not share your wallet password with anyone.

Usually "-p x" indicates that the pool does not require a password and you can put anything there, including just the letter x.

Already close to 20% of the network I think.

Recommend people to avoid joining this one if not there already and soio mine or use other pools.

These risks aren't really that great because you can always resell the hardware. You're not buying something specialized that will lose value if MRO or even cpu coins in general stop using it. In fact there might be an argument for buying used in the first place, to minimize depreciation (not always true though, especially with good use of promotions on new gear).

I do agree that just buying is often a good substitute for mining, especially if you don't have the experience with and aptitude for dealing with hardware on a shoestring budget. That itself is a specialized skill (different from conventional IT for example)

Effectively using promotions is very important in the mining game although some of the people using a lot of free VPSs are doing it fraudulently (comment not directed at anyone in particular because I don't know), which isn't really any different from botnets.

I will review the efficiency issues with an open mind. I do see some potential issues there, but I believe the disadvantages (which would prefer not to fully enumerate at this time) to unstructured blobs in the block chain to be extreme and there is a high probability they will in fact be removed, or replaced with some alternative solution.

EDIT: Encrypting them might be acceptable. This will require some more analysis.

It's a brand new design and code with much better privacy based loosely on BTC concepts (block chain). Cryptonote is the name of the protocol used by BCN and some other coins (MRO, QCN, etc.)

At the $500 price point you are likely talking about one computer.

That being the case, I would buy a computer you could use for other things. Then you get the mining gear for free, and no one can compete with that.

If it were specifically for mining you want to maximize your mining power for the absolute minimum cost, which means you want a decent CPU but not a  high end extreme model. I would build my open rig (don't waste money on a case) get a very basic motherboard, ideally with integrated video (again don't waste money on a video card) and minimal RAM. Run linux on it.

Also, take a look at whether you can get more output with two $250 systems (lower end CPU) instead of one $500. I'm not sure. Once we have a good performance chart it will be easier to figure this out.

If you want to spend more and go bigger then, at some point, you need to deal with hosting issues and are better of with rack mounted servers, possibly blades. I think they have a bit of a price premium though. For a while stick with cheap open rigs.

VPS may make sense short term but if you are in this for the long term buying hardware (efficiently) is quite a bit cheaper than VPS, even if you end up having to rent space for your farm. This likely requires good skills in getting back value out of reselling used gear when you upgrade.

In summary mining is all about cost efficiency above all else. If you were around at all during the big GPU mining phase of bitcoin and altcoins then it is really the same principles, except with the GPU. You can look around at how people save money by not spending it on inessential components (cases, etc.), finding promotional deals, etc.

You're overcomplicating it. The current price is a market consensus of expected future value, especially in a speculative instrument like this one where (at present) there is really no other reason to buy. So the market is saying that an expected 100K BTC are going to flow into this coin (over the next ~8 years). This likely represents an average of many outcomes, including some at 0 or close to 0, and some higher (likely much higher) than 100K BTC. You may disagree with this assessment, but you should take that to the price speculation thread.

Over the next 8 or so years (the period when most of the coins will be mined numerically)? I have no idea, and neither do you.  8 years ago Bitcoin didn't even exist.

You don't have to "maintain" it, since it has always been advertised as such, from the very first post on the original thread. No one has attempted to mislead as to the purpose of the fork or the content of the fork. Over time I'm sure the coins will diverge in technical ways to some extent (as they have already, a bit), but that was not the purpose of the fork. The actual purpose was explained in my previous reply.


Here's where you make no sense. Cryptonote coins, and therefore Monero, make enormous improvements in the area of privacy. I don't want people snooping around my personal financial affairs, and it is very difficult (if even possible) to prevent that with Bitcoin. I think I have never posted a bitcoin address (although at times it would be convenient to do so), because I don't want anonymous people on the Internet tracing that address to snoop around in my finances. It is bad enough that people who pay me get an address of mine, and can therefore snoop around, although I do take some precautions. It is quite easy to prevent all of this with Cryptonote coins, requiring no special care or effort on the part of the user.


I happen to care and it has nothing to do with illegality. I simply value my personal privacy, especially when it comes to finances. I don't post my bank statements and other financial records on the Internet. Do you?

But you are certainly within your rights to not care, in which case I essentially agree, Monero has little to offer you.


Most of these are off topic unless you have specific suggestions to implement in MRO (or better yet code changes to submit).

It's not needed and is bloat, and see below. If you want it changed it each time, then you can't use it for pool payments. That's exactly what regular MRO addresses are for! (i.e. "Unlinkable payments") They are changed each time and prevent linking of payments.


It is readable by anyone. You can literally read them right in the block explorer. The exchange can encrypt the contents of the payment ID, but there is nothing to require them to do so. I know in one case they are being generated using sequential numbers. What other information is leaked is hard to say.

It's fine as a temporary workaround but really not a good design.

Your missing the point. The purpose of the fork was not to make technical changes. It was:

1. To cleanly launch the coin without an 80% hidden premine and an insanely fast reward curve that will release 96% of the coins in 4 years. (By comparison bitcoin released 50% in 4 years, and people complain about early adopters.) After that, what? 

2. To create a coin with active, engaged, community based leadership as opposed to some secret cabal hidden away doing nobody-knows-what with 80% of the coins.

The developers of Monero (and Bitmonero before it) did not have any special premine or any special access ability mine a huge amount of coins. The difficulty adjustment algorithm on this coin does not allow for any ridiculous instamine after release either -- the difficulty adjusts every single block. In fact to this day, only about 5% of the coins have been mined, and it is FAR from the case that developers or very early adopters have been the only ones mining. In fact I doubt we account for 10% of it at this point.

That said, if you really prefer BCN, it is over here. No harm no foul.

The change to two minutes is easy and relatively non-controversial. Instead of roughly 17 coins per minute (a bit less now) the block rewards would be 34 coins every two minutes. That is no change to the number of coins per day or the shape of the emission curve.

The only reason it hasn't been done is that it needs to be done carefully to prevent any network disruption during the change over and there are other priorities.

The factual answer is because it is new and relatively unknown, and the software isn't even mature (no GUI wallet, etc.)

Although this is less factual, I would also say that DRK is much more hyped.

I also wouldn't say that MRO has flatlined just because it isn't doubling every single day. It's up a huge amount over the past few weeks.

It is what it is.

Even premines don't necessarily bother me as long as the aren't a stream of lies trying to disguise it. But the funny thing is, the more lies are told the harder it will be to keep it all straight, and eventually there will be so many inconsistencies and slips that no one will believe the scam. So I do encourage them to keep going.