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141  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MRO] Monero - Anonymous Currency Based on Ring Signatures on: May 18, 2014, 04:27:12 PM


I believe in the underlying technology too. That's why it is a bit distressing not be able to mine the coin profitably, even though I started trying around block 20,000. I believe enough in Monero to have bought several thousand on the exchange, in part because I wasn't having much luck with mining. I suppose if a lot of other people come to the same conclusions, and start buying instead of mining, the price will start to rise. I guess that would settle my concerns some.

My numbers say it's always better to buy than mine. For  Monero, my home server pushes around 15 H/s (a single thread) because that's the right thing to do even if you don't mine. If everybody did this, we would have no centrazilation problem.
142  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 18, 2014, 04:20:37 PM

*Ignored*

Lol, butthurt kid who can't take jokes on the internet

classic Grin

I feel like you just got trollrolled.
143  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MRO] Monero - Anonymous Currency Based on Ring Signatures on: May 18, 2014, 02:25:09 PM
Quote from: stellarman
Maybe your last point is the part I don't understand. How does an individual get to 1 - 10 kH/s? I know the processor I am running now is pretty lame, and I am about to install a much faster (8-core) CPU. Let's say the new CPU doubles my clock speed, and that I can go from mining one thread to 15. That still only increases my hash rate from 9 H/sec to 270 H/sec. How does an individual get to 10 kH/s without running 40 - 100 machines? Is the something wrong with my math? Is there some other factor I am missing? I would love to be wrong about this.

Well you kinda answered yourself, only the numbers can be smaller. My home server is 24-thread and its a pretty common rig. I suppose i could squeze say 500 H/s. If i had 2 I would be at the lower bound of my interval. If i had a rack of them I would be close to the upper bound. Similarly for say, a school computer lab.
144  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MRO] Monero - Anonymous Currency Based on Ring Signatures on: May 18, 2014, 12:57:36 PM
I've got a couple of questions.

First, I'm mining on extremepool.org. "My Stats" shows that my hash rate is only 2 H/sec with a single core processor. Yet if I solo mine with the daemon, it shows my hash  rate as 9 H/sec (with the newest update from 17 May). What could be going on with that? Is the pool miner using the older, less-optimized code? At 2 H/sec, it seems I am wasting my time.

Second (and more importantly, I think), where the heck is all this hash power coming from?? It looks to me as though all of the pools combined account for only a very small percentage of the total hashing. It makes me wonder whether someone (or several someones) have figured out how to GPU mine Monero, and are grabbing most of the coins. If so, that is functionally equivalent to a private pre-mine, and I predict it will be bad for the long-term viability of the coin. And that would be a shame.

Any ideas?

I can't answer the first question because I don't mine.

I am not too worried about the hashrate.

1.If you look at the chart it grows on a noisy exponential. It's faster than I expected, but it is more consistent with strong interest (and high price) than a secret GPU miner.

2. I have just started studying CryptoNight in detail, but so far it looks like GPUs are not going to be a killer if they do happen.

 A. CryptoNight is indeed almost memory-bound in theory, and monero miner is indeed almost memory-bound in practice (after Noodle's un-de-optimization). This means there is no uberminer, maybe a heavy optimization can double the rate again. The other CryptoNote coins are afaik still de-optimized so someone mines at 4x the rate others have.

 B. On a GPU the high latency of GDDR3/5 and the tiny caches of the shaders means that most time will be spent waiting for the RAM, to a much larger degree than on a CPU. This is not too say there is no compute, but there is not a lot of mindless compute like in BTC. CryptoNote is more computationally intensive than BTC on the crypto side and it is latency-bound (i.e. it does a lot of mindless memory access) instead of compute-bound, so that's why typical hashrates are so low compared to anything else.

 C. Slow-hash uses AES at some point. Most modern CPUs have dedicated hardware for it, but GPUs are terribly slow at large integer arithmetic.

It could be possible that CryptoNote is indeed CPU-only for a few years at least. This doesn't mean it doesn't have it's own problems, and that's one reason I asked about the attack vector thread.

3. IMO monero is overpriced for now. Botnets don't hoard, so they tend to keep the price low. I don't have a problem with this. On the other hand they do secure the network. Someone rightly said upthread that the miner network is itself a botnet.

4. I believe a large part of the network hashrate is individuals with 1-10 kH/s mining alone. I don't think this is a problem either.
145  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MRO] Monero - Anonymous Currency Based on Ring Signatures on: May 18, 2014, 12:04:52 PM
Is there a thread to discuss attack vectors and slowly specify the protocol? Right now the code is the spec and that's a recipe for black swans (see BTC hard fork in 2013).

I think it's important to start the discussion early because there's a lot of work to be done before it's time to code. We need documentation, we need to audit all code and we need to think about attacks.

Where should such a thread be created?

146  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 18, 2014, 09:52:12 AM
What bothers me the most (apart from the train not ChooChooing yet) is that after articles like this:
http://blogs.wsj.com/economics/2014/05/16/congatulations-to-class-of-2014-the-most-indebted-ever/?mod=WSJBlog
people still think that bitcoin is about to fail... Undecided

That article is way too relaxed given the true magnitude of the problem. There was an article on zerohedge a few weeks ago. Apparently more than half of all that debt is not used for school at all. There are people who do the third useless undergrad degree because you don't need to pay the student loans when you study. So you just get degree after degree on student debt. Some people apparently understand the black hole they're falling into any say there's nothing else they can do. They just hope the government will forgive them, because federal student debt is not bankrupt-able. And you know what, the government will, going itself further into the black hole. Indirectly, like, allow people to take undergraduate degrees forever. I'm sure they can just add the death-defaults to freddy and fannie.
147  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 18, 2014, 05:55:12 AM
I know it would be argued that Jorge is voicing this opinion to perhaps save someone from making bad investments but it seem more like fear mongering to scare some noobs to being afraid of China that they sell at or near a bottom.
his investment seems questionable, at best - to supposedly save us from ourselves.
I don't want to save anyone on this thread. I assume you all are adults and know the game you are gambling in.  I feel that I have an obligation to warn people who may be lured into investing in bitcoin with false promises, but they are unlikely to be reading here.

Yet you're still here with the speculators, appearing to only give a damn about the price of a bitcoin rather than Bitcon itself.  Your noble self-righteous crusade is either completely misdirected or, as you appear to be implying, pure bullshit as many of us have suspected since soon after you showed up here.

Ergo you're simply a disingenuous troll with tenure and nothing better to do than pursue vindication for your own misguided assumptions. 

I guess "I feel that I have an obligation to warn people" that sometimes smart people give deeply flawed advice for what they think are entirely righteous reasons, purely as a result of their own dogmatic, self-serving and unfounded convictions.

As I've said before, you're allegedly a computer scientist; if you think Bitcoin has problems, trying doing some computer science.  You could start by challenging your assumptions, kinda like a real scientist would.

Otherwise, the term "priest" and/or "cultist" appears to be much more suited to you than any of the people you usually try to hang it on. 

With all due respect etc.  Cool



Man, relax. All the negativity is shortening your life and all this energy is better spent elsewhere.

Allow me to correct you on a matter of semantics. A troll, by definition, is entirely conscious of the facade they play. It is the name of the game to make it as outrageous as possible but realistic enough that it is not dismissed out of hand. So everyone should know the troll is full of shit, but everyone should believe others might fall for it. This is when you get an echo chamber of warnings about the troll, of other trolls recognising the act of trollery and joining the act. The ultimate troll is a Chaos Master. I strongly believe now that Jorge is an expert troll. Look at how smoothly he argued that he's playing the devil's advocate. Then he admitted he knows the audience is not the target of his obligation.

And all we do now is sit in the middle of the echo chamber and keep feeding the troll. Jorge is likely on cloud nine.
148  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 18, 2014, 03:55:29 AM
I know it would be argued that Jorge is voicing this opinion to perhaps save someone from making bad investments but it seem more like fear mongering to scare some noobs to being afraid of China that they sell at or near a bottom.
his investment seems questionable, at best - to supposedly save us from ourselves.
I don't want to save anyone on this thread. I assume you all are adults and know the game you are gambling in.  I feel that I have an obligation to warn people who may be lured into investing in bitcoin with false promises, but they are unlikely to be reading here.

A very lucid argument for playing devil's advocate. I believe Jorge is a troll of much underestimated skill. My respect for you grows again, sir.
149  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: MRO Monero trading thread and OTC xchg (bid 100 ask 134 last 130) on: May 15, 2014, 02:11:20 AM
New escrowed seller order. I guess there are some people who don't like the exchange. Fair enough.


The exchange is still very new and possibly buggy. For example, there are orders of negative size in the orderbook. I don't know what to make of that except random bug.
Manual withdrawals seem to be a problem for many, but I can't see why.
The MRO community probably trusts you more than Kozi.

I don't think you'll go free for a few weeks at least  Grin
150  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 12, 2014, 01:20:38 PM
If everything in China has been leveraged to the hill, when it all settles we could easily see insolvent exchanges.

Sounds like Huobi is in full zero-reserve-mode.
151  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MRO] Monero - Anonymous Currency Based on Ring Signatures on: May 12, 2014, 12:13:21 AM
With today's update, blockchain sync, hashing and mining are much faster on Core 2 (is anyone still using Core 2's?). Does this hold for other arches?
152  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 07:46:05 PM
PS. There are two threads, at least, on this forum about the Sunlot plan and people:

  SaveGox.com

  More proof that savegox.com is a sham



Add one more https://bitcointalk.org/index.php?topic=594826

Given that the Foundation is no longer trustworthy IMO this looks like just the next step in the long con. It's even worse if the PTB are behind Sunlot - don't forget how much private data Gox had. Witch hunting anyone?

153  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 07:35:53 AM
can someone explain me why BTC-e has lower price for proximately 10$ than Bitstamp or Huobi ?

anybody ?

Last year they had the same difference and at the time that was because it is much harder to get USD in BTCe. This was reflected in USDEUR too for example.

I don't know if that is still the case.
154  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 05:14:34 AM
What's up with the big btc transactions?
https://i.imgur.com/uFkp0kI.png

A while ago, I saw five 8k btc transactions and lots of 1k-4k transaction

I'm surprised bitcoinmonitor.com isn't used by more people. Much more informative, and I prefer the presentation

I use bitlisten minimized. I actually like the tunes, and big transactions sound dramatic.
155  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 07, 2014, 08:21:57 PM
...History tells Holland always leads the way in Finance  Wink.

UR the tulip bulb guys, right?

Well maybe a little bit...
But credit where it's due. The Dutch founded exchange trading as we know it.

They traded the first derivatives too if I'm not mistaken?
156  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 08:19:42 PM
nope its back above 430 all is well again!!
Please stop this, its boring to watch every single move.
We all have and can read charts ... get a life my friend

Does having a weekly OT battle count as a life?

There is no life without bitcoin  Angry
[Sits at his computer continually refreshing bitcoinwisdom  Grin]
Why are you doing this? It refreshes on its own for me :/
157  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 07:53:33 PM
A recession is much overdue

The only thing I'm worried about is that the CB's freak out when stocks try to correct and put the printers on overdrive again. Nobody affords deflation right now. The tower of debt is too high compared to the tower of currency.
158  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 07:39:38 AM
@TERA and windjc - How much have you shorted?
I am not truly short. I only have paper trades to hedge against a portion of my cold storage. Technically, I'm long.

When did you start trading and, if you bought 1 BTC when you started trading, how much would you have now?
I started trading btc in march 2013. I'm confused by the rest of the question.

Normalize your holding by your initial investment. What's your ROI? Did you buy once at the beginning or did you accumulate?
My strategy was to daytrade like a monkey on crack. Mean reversion strategy mostly. I often held 0 bitcoins. My ROI now in fiat terms is 40,000%. My first btc purchase was at $100.

Impressive. You must be 10 years older than in March. And 20 wiser at least.
159  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 07:29:58 AM
@TERA and windjc - How much have you shorted?
I am not truly short. I only have paper trades to hedge against a portion of my cold storage. Technically, I'm long.

When did you start trading and, if you bought 1 BTC when you started trading, how much would you have now?
I started trading btc in march 2013. I'm confused by the rest of the question.

Normalize your holding by your initial investment. What's your ROI? Did you buy once at the beginning or did you accumulate?
160  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 07:26:11 AM
@TERA and windjc - How much have you shorted?
I am not truly short. I only have paper trades to hedge against a portion of my cold storage. Technically, I'm long.

When did you start trading and, if you bought 1 BTC when you started trading, how much would you have now?
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