What are coinbase transactions?
That's another term for mining. Bear in mind that Zcash's math also is supposed to ensure that every transaction has outputs = inputs. The main differences are: 1. The RingCT math is orders of magnitude simpler. I can almost understand it, and that's saying a fair amount (not a cryptographer). 2. Zcash has the trusted setup which, if compromised in any way, will allow coins to be created without any possibility of detection. RingCT has no trusted setup. |
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When RingCT is implemented will we still be able to monitor the total money supply?
Yes. Every RingCT transaction will have outputs = inputs (therefore no change to the total money supply). This is mathematically proven and it won't be deployed until both the theory and implementation are thoroughly reviewed to ensure that it is the case. The only way new coins will be created is via coinbase transactions which will still be visible. Coinbase transactions will not use RingCT, and indeed they can't because they don't have inputs. |
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Cryptonote technical discussion:
Monero yesterday completed its first planned hard fork, implementing several changes:
1. Block time 1 minute -> 2 minutes (with block reward also doubled)
2. Minimum block size increased to 60 KB (50% increase from the previous 20 KB considering the block time change)
3. Minimum mixin requirement on all transactions (with some special exceptions for existing "dust")
4. No new "dust" allowed.
There were some minor glitches with forks of the pool software (though the original open source software apparently works fine), but other than that everything seems to have gone well.
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I disagree that Monero is not useful. I store my savings in it. I use it to buy goods using XMR.to. I play games with it at Crypto Kingdom. Maybe next I'll work out a deal to pay my rent with it. Most importantly I use it to keep as much of my hard earned money out of those grubby banks.
I agree with part of that. For someone who isn't an aggressive speculator, "storing savings" in it is a bit much. Nothing wrong with being a speculator, but it isn't for everyone. |
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I agree the accumulation has been quite obvious. |
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When does everyone think we'll hit 0.0002?
I'm thinking fairly soon.
Lol, wut? That's 5x the current price.  Mark my words, 640kb of memory is enough for anybody and Aeon will never be worth more than 10 USD cents each. What the hell are you talking about? 10 cents is 10 times the current price now... and that's only 0.0004. If you think that's high... well frankly I'm disappointed Aeon's most vocal investor has such low expections. If Aeon was just 10% of Monero's marketcap which is pretty low anyway, then assuming Monero were to hit a new all time high... well that's 0.001 right there for Aeon. And that's pretty darn low. All things being equal, which they're not, aeon's hashrate is about 1/100 of monero's: typically 300 kh/s divided by two because of algo versus 15 MH/s , give or take. So, with a network security that is 1% of Monero, why expect a price/marketcap far off from that? Both can price and hash rate can fluctuate both up and down. I don't see a good reason to assume either will remain the same. |
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In my time following this coin I haven't seen the hash rate this low 10.7MH/s I guess there are still pools out there that haven't updated.
Hash rate fluctuates regularly:  Nevertheless, it is likely true that some pools and miners are offline (though far less than some of the alarmist claims that have been made here), making this a good time to mine. Don't miss the opportunity! |
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smooth -- have you tried?
It's not so simple or so easy as you say.
I've done thousands of trades using bots on finex, etc. This is going back a couple of years.
I hired a professional accountant, who billed himself as conversant in bitcoin, and couldn't do my taxes even with his help.
Yes I've done exactly what I wrote. Download/export the logs, and process with a program or spreadsheet into realized gains/losses. In some cases you might not be able to do this (exchange out of business, etc.), so you do the best you can with the information available. It's not a matter of what you started out with and how much you ended up with.
Agree. |
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Monero developer drops truth bombs: "No altcoins currently useful, majority are scams" http://ow.ly/ZRBop Thoughts? A bit more absolute than I would like. They can be useful for limited purposes. Not just Monero either, others can also be useful in limited ways. You don't need best security, etc. for every single sort of usage. majority are scamsAbsolutely true. Who would dispute this? |
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...
In the US, at least, that is most likely incorrect. Crypto doesn't have to convert to USD to be taxable. For example, the rules are very clear that mining bitcoin counts as income when the coins are received. And if you purchase something for crypto, that is also a taxable vent.
And interest on lending, whether margin or otherwise. is income. So interest from margin lending crypto is most likely is income, you pay taxes on the value received as received, and your basis on the monero received is equal to that value.
It is also the same in Canada. Another example is let us say one sells Bitcoin for Monero, then this would trigger a capital gain or loss on the Bitcoin based on the fair market value of the Bitcoin in Canadian Dollars at the time of the sale. Such a burdensome accounting regime assures noncompliance. Which is probably the purpose. I have made literally thousands of Monero and Bitcoin trades and transactions this year already. I have no idea how I will go about filing taxes for 2016. It is absurd that I want to be a legal and tax compliant citizen in this manner, but will be assuredly unable to without spending hundreds or thousands of dollars on tax professionals to help me understand and calculate my tax burden. If I were to try to tabulate it myself I am likely looking at hundreds of hours of work. This cannot go on like this - I will do my best but the days of crypto being three different forms of assets with unbearable associated tax rules have to end. It's not really that big a deal. You download the data and use a spreadsheet or small program to calculate gains and losses. There is no reason to spend hours and hours manually going through every trade. Also, consider https://www.tyracpa.com/like-kind-exchange-treatment-crypto-currencies/ though you probably do want to work with a professional on that. |
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Crypto-pool.fr got booted off for the first 12 blocks or so, but they are finding blocks again now.
He didn't get booted off, the fork was NOT COMPATIBLE with pool software. Onishin is a smart guy, i'm not surprised he fixed it in to time (still took him longer than me  ) No, the pool software was not updated to support a well publicised fork, even though testnet was forked months ago and available for testing. Why and how would a hard fork support outdated software?? This was a ninja fork, poorly executed. You, the dev team, are amateurs. I'd be worried what other nasties will show up... 2 min blocks are a terrible idea in the first place.. How come the miners didn't get a say ? Well my current hash rate seems to be 32% , should i try to do a double spend ? 1009853 59 to go 1627572355 2a97ce44a2e81d932a804668a93f2dd6670154283c04dd0005eeb1a8db47cdd5 3/23/2016, 7:20:59 PM 78%
1009852 58 to go 1621258227 7750098e01c2c457c5e90639883b6be73decb1442931a3bdc018244c6cf75e60 3/23/2016, 7:05:24 PM 83%
1009849 55 to go 1618724176 f20dfbe79664394d9b9920ea7095f516a24b5693f9166a10dbfe63f7db1ddf82 3/23/2016, 6:52:46 PM 84%
1009845 51 to go 1613905042 4977c235f696284b55a42207933c4f045f647ea73efce1e2c280370d0754fc24 3/23/2016, 6:41:44 PM 79%
1009843 49 to go 1621581315 a4a02510f2f376dff190c59486b370a022f01d45683b62bda83a4708bccdf36e 3/23/2016, 6:26:49 PM 48%
1009833 39 to go 1609202846 a937fead88d2a438e11eeaf0e8596dc0cb92a028831104a02406d9734dbb3718 3/23/2016, 5:48:13 PM 94%
1009831 37 to go 1602611350 65b2b5031e39702b8c5130d6254653cd00fbc7fe1bfd0b6be2664ac98776f09a 3/23/2016, 5:43:46 PM 84%
Instead I would suggest that you learn how mining works. You got lucky there, or your hash rate is much higher than you claim. Probably the latter. Stop pretending you don't know whats going on you idiot. http://monero.crypto-pool.fr/#pool_blocksOnishin's pool now doing way over 50% with less than 3MH/s. Let me guess, he's just lucky. I had 1% total hash rate before the fork, over 15% now. Again, you don't understand how mining works. Only difficulty and hash rate matter to how many blocks you get, and the hash rate is about 2x what it was before the fork, which is about right. The pool hash rate may be reported incorrectly though. Next time take into consideration that 50%-90% of hash might get cut off like it did now and lower the difficulty accordingly! To what end? There are plenty of blocks being mined. Everything is working properly, except your brain. You are playing stupid and i don't have time to make fun of you.. I'm out... More info. Last hour worth of blocks (N=28; target=30; nearly perfect!): 10099132257512016-03-23 21:02:07 64fd4317d3c430721f5f7d12238f2deeb45cce3454d5f044d4d0205c5fffb6b0 100991228702016-03-23 21:00:19 bf135e062e31cf921bea9fcb116f3fd4eddcc3dc60303feb8294804a8cf3f6c3 100991145402016-03-23 20:58:44 ad7754646df6666eff446d5a5866bf74c6521695ddce7f1566f58cffd32373e9 100991028702016-03-23 20:53:40 740cb24847ccdfb9d458cde982e8dbd2648fc61ae522ced0d36398c4c0c59a2b 100990928702016-03-23 20:52:42 5144fb7caa4601fe95404ac042aa4f2c7e070b26384b40f6995afeb8e1737ccd 100990828702016-03-23 20:51:27 a1c2b0c5fff33f2c8fc68b1cc8f640a3a0468a60986e60b1084aba29d6987b52 1009907506112016-03-23 20:47:54 a80beac2f3fb979b7cae9c3861dfff31d01877f1e9b79e671b4e5aa076a0fdba 100990628702016-03-23 20:38:46 c580377f961d3ff0c15833e5a39a7399b04556aaf6bd0abd69665b677fea43c5 100990528702016-03-23 20:37:46 b45f83a76477cbad44ec47c870aece3ece4eeb07ad501d1dac4ddf25355854a6 1009904321312016-03-23 20:35:53 930034739b34140fae42c940648b0fb51e1708bd882679571075f108069b6af5 10099031048522016-03-23 20:34:41 4cf69405d3131771deb970db7d6e1f8e3fcfd086e5accff8505a267b40573975 1009902214512016-03-23 20:31:38 07cbe905e99213c636f400ca7f5e6d76518cd74f1ec35667212e988d4a43b055 100990128702016-03-23 20:31:12 ab1f1fb9fea57dccfa11ea944b14105ec95ae3180c29062b1c8b26ab21f4fd82 100990028702016-03-23 20:29:48 5c1b7c696e0622ab227e807e99964bce680a06fc523621cb66317c9fb34697ee 100989928702016-03-23 20:29:01 881f03fbbac816ff9e52cf73ca2c182ecadbd349b934e31e3cbb364893b54505 100989828702016-03-23 20:28:16 6fcc05f65361d5d0f239fa9d8ea5c1aa79699e5a96d3581093e825a3427115b1 100989728702016-03-23 20:27:10 7f266398152e596808b467b411cbc835d9aff51504bbf34c53da1aa5deb5e15f 100989690312016-03-23 20:25:37 597a0978c6f8b5e84889048a80fd001c1726b42f8e0690df311827dd37b6d4bc 100989528702016-03-23 20:22:30 a6d7677045e584b1fae0df1a6ac77897972b9e944b01dc8292f0b375610c7f20 100989424902016-03-23 20:21:13 827b221c04c377edb942ffac0090a9664b883d21deb48ae551ad3bcfddb34db4 1009893153512016-03-23 20:20:08 088521367430f7ae543e30ec2f14c0761c4ba7a12cbb725fc24f5965b4d746a4 100989224902016-03-23 20:18:14 cbc8de4bd80a8d4b8753dca9a1df86b6de816f13987d68ba103d96dad3594444 100989124902016-03-23 20:17:29 2e021143dc5e29315b56c6b41647f5c961c46bf0f1e29e56e7bc101c97a2dafa 100989028602016-03-23 20:16:12 cae8d2279076f947fb5b6ae41c1b9e1b4542ed8edc24d4462ca68742296b0367 100988928602016-03-23 20:15:32 3bb1382e3342060fca31987d97f2a8675ec84cf0fd0ab73a2f196f45756b75e9 100988828602016-03-23 20:08:36 6646daa9cce85981a9c5f9736c9186d804200e3b29bd93e55da3661696bc77cd 100988728602016-03-23 20:04:56 ac4e9f553f7f9eb0ccd78cec2dfa2b31a303776f5124004d027fcd475daf8ca0 10098862442512016-03-23 20:02:19 ef3cd12dd2e3656bb7c187cfd4dfc1cbab4c1a0d45e204d3d4d6baa2fe98dcd1 |
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Crypto-pool.fr got booted off for the first 12 blocks or so, but they are finding blocks again now.
He didn't get booted off, the fork was NOT COMPATIBLE with pool software. Onishin is a smart guy, i'm not surprised he fixed it in to time (still took him longer than me ) No, the pool software was not updated to support a well publicised fork, even though testnet was forked months ago and available for testing. Why and how would a hard fork support outdated software?? This was a ninja fork, poorly executed. You, the dev team, are amateurs. I'd be worried what other nasties will show up... 2 min blocks are a terrible idea in the first place.. How come the miners didn't get a say ? Well my current hash rate seems to be 32% , should i try to do a double spend ? 1009853 59 to go 1627572355 2a97ce44a2e81d932a804668a93f2dd6670154283c04dd0005eeb1a8db47cdd5 3/23/2016, 7:20:59 PM 78%
1009852 58 to go 1621258227 7750098e01c2c457c5e90639883b6be73decb1442931a3bdc018244c6cf75e60 3/23/2016, 7:05:24 PM 83%
1009849 55 to go 1618724176 f20dfbe79664394d9b9920ea7095f516a24b5693f9166a10dbfe63f7db1ddf82 3/23/2016, 6:52:46 PM 84%
1009845 51 to go 1613905042 4977c235f696284b55a42207933c4f045f647ea73efce1e2c280370d0754fc24 3/23/2016, 6:41:44 PM 79%
1009843 49 to go 1621581315 a4a02510f2f376dff190c59486b370a022f01d45683b62bda83a4708bccdf36e 3/23/2016, 6:26:49 PM 48%
1009833 39 to go 1609202846 a937fead88d2a438e11eeaf0e8596dc0cb92a028831104a02406d9734dbb3718 3/23/2016, 5:48:13 PM 94%
1009831 37 to go 1602611350 65b2b5031e39702b8c5130d6254653cd00fbc7fe1bfd0b6be2664ac98776f09a 3/23/2016, 5:43:46 PM 84%
Instead I would suggest that you learn how mining works. You got lucky there, or your hash rate is much higher than you claim. Probably the latter. Stop pretending you don't know whats going on you idiot. http://monero.crypto-pool.fr/#pool_blocksOnishin's pool now doing way over 50% with less than 3MH/s. Let me guess, he's just lucky. I had 1% total hash rate before the fork, over 15% now. Again, you don't understand how mining works. Only difficulty and hash rate matter to how many blocks you get, and the difficulty is about 2x what it was before the fork, which is about right. The pool hash rate may be reported incorrectly though. Next time take into consideration that 50%-90% of hash might get cut off like it did now and lower the difficulty accordingly! To what end? There are plenty of blocks being mined. Specifically, in the last hour 27 blocks, which is nearly perfectly on pace. Everything is working properly, except your brain. |
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Difficulty adjustment is completely fucked up. Have they changed the diff. retarget algo ?
Difficulty must be doubled (or something) because of doubled block time. That's exactly right. |
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Shapeshift is disabled too. I guess just in case, until network calms down.
Difficulty adjustment is completely fucked up. Have they changed the diff. retarget algo ? How is adjustment is supposed to take place over 24 hours "completely fucked up" after 5 hours? Answer: it isn't. By design in this time frame it should still be adjusting. |
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Always remember that polo takes 15% of lending profits, so your real rate is 85% of the rate you specify.
I am unaware if Polo takes a chunk of profits? It is in their terms of use. As far as "default insurance", they do not promise to back up losses. Some have suggested they might do so to avoid bad publicity, but that is just speculation. |
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Crypto-pool.fr got booted off for the first 12 blocks or so, but they are finding blocks again now.
He didn't get booted off, the fork was NOT COMPATIBLE with pool software. Onishin is a smart guy, i'm not surprised he fixed it in to time (still took him longer than me ) No, the pool software was not updated to support a well publicised fork, even though testnet was forked months ago and available for testing. Why and how would a hard fork support outdated software?? Moreover their pool software is heavily customized. That was likely the cause of most pool problems across the board. The basic open source pool code we crowdfunded back in the early days seems to have worked fine. |
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Crypto-pool.fr got booted off for the first 12 blocks or so, but they are finding blocks again now.
He didn't get booted off, the fork was NOT COMPATIBLE with pool software. Onishin is a smart guy, i'm not surprised he fixed it in to time (still took him longer than me ) No, the pool software was not updated to support a well publicised fork, even though testnet was forked months ago and available for testing. Why and how would a hard fork support outdated software?? This was a ninja fork, poorly executed. You, the dev team, are amateurs. I'd be worried what other nasties will show up... 2 min blocks are a terrible idea in the first place.. How come the miners didn't get a say ? Well my current hash rate seems to be 32% , should i try to do a double spend ? 1009853 59 to go 1627572355 2a97ce44a2e81d932a804668a93f2dd6670154283c04dd0005eeb1a8db47cdd5 3/23/2016, 7:20:59 PM 78%
1009852 58 to go 1621258227 7750098e01c2c457c5e90639883b6be73decb1442931a3bdc018244c6cf75e60 3/23/2016, 7:05:24 PM 83%
1009849 55 to go 1618724176 f20dfbe79664394d9b9920ea7095f516a24b5693f9166a10dbfe63f7db1ddf82 3/23/2016, 6:52:46 PM 84%
1009845 51 to go 1613905042 4977c235f696284b55a42207933c4f045f647ea73efce1e2c280370d0754fc24 3/23/2016, 6:41:44 PM 79%
1009843 49 to go 1621581315 a4a02510f2f376dff190c59486b370a022f01d45683b62bda83a4708bccdf36e 3/23/2016, 6:26:49 PM 48%
1009833 39 to go 1609202846 a937fead88d2a438e11eeaf0e8596dc0cb92a028831104a02406d9734dbb3718 3/23/2016, 5:48:13 PM 94%
1009831 37 to go 1602611350 65b2b5031e39702b8c5130d6254653cd00fbc7fe1bfd0b6be2664ac98776f09a 3/23/2016, 5:43:46 PM 84%
Instead I would suggest that you learn how mining works. You got lucky there, or your hash rate is much higher than you claim. Probably the latter. |
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I tried to get a dev donation transaction in on the fork block, but it got confirmed far too late. There was a backlog of some transactions that were a bit too large to fit in normal blocks before the fork, and those filled most of the first 10-20 blocks after the fork. Things seem back to normal now. |
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I hate people who pull numbers from their ass ... Smooth you idiot. 1009852 60 to go 1621258227 7750098e01c2c457c5e90639883b6be73decb1442931a3bdc018244c6cf75e60 3/23/2016, 7:05:24 PM 83%
1009849 57 to go 1618724176 f20dfbe79664394d9b9920ea7095f516a24b5693f9166a10dbfe63f7db1ddf82 3/23/2016, 6:52:46 PM 84%
1009845 53 to go 1613905042 4977c235f696284b55a42207933c4f045f647ea73efce1e2c280370d0754fc24 3/23/2016, 6:41:44 PM 79%
1009843 51 to go 1621581315 a4a02510f2f376dff190c59486b370a022f01d45683b62bda83a4708bccdf36e 3/23/2016, 6:26:49 PM 48%
1009833 41 to go 1609202846 a937fead88d2a438e11eeaf0e8596dc0cb92a028831104a02406d9734dbb3718 3/23/2016, 5:48:13 PM 94%
1009831 39 to go 1602611350 65b2b5031e39702b8c5130d6254653cd00fbc7fe1bfd0b6be2664ac98776f09a 3/23/2016, 5:43:46 PM 84%
Way more than 20% of hash got cut off otherwise i would not be finding so many blocks with only 350kh/s... How many blocks you find (and how quickly you find them) is a purely a function of your hash rate and the difficulty (which doesn't adjust much over a just few blocks), along with luck. Other than the possibility of losing an orphan race, who else is mining makes no difference whatsoever. So if you got a lot of blocks with that hash rate, it was mostly luck. Congrats, and enjoy the windfall. |
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I wish I knew enough about this stuff to understand whether there's any danger to the chain.
Not if exchanges/merchants are on the right version, which they are. Drop in hashrate of course is detrimental to security. Okay, but are the "orphans" going to die, or live on like zombies? That would mean a split chain, if I'm not mistaken. There are chain splits all the time. As long as end users (including exchanges and other services) are upgraded they will recognize the longest valid chain and ignore any others. Miners don't really matter in the case of a hard fork, though in this case it is clear that well over 50% of miners were upgraded so the longest valid chain will also be longer than the longest invalid chain. |
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