Is Blockstream working on one of those Turing complete scripting languages for smart contracts as a sidechain at all? Are they in competition with Ethereum?
IIRC, Blockstream types tend to like Rootstock's approach. |
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@nszabo4 follows XMR and has retweeted a few things about it. As soon as we have a Monero conference, we can ask him (Nick von Szaborhagen) to be the keynote speaker!  Of course Chaum and Merkle will need to be on the same panel.  |
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So I have a few thousand XMR I am thinking about lending out on Polo.
I understand the risk is pretty low for a fairly guaranteed return. What rate do you think I should lend out at? I'm still a little confused on how the lending rates work.
i can not tell you what rate to lend out that coins. the rate you set is per 24 hours, but it gets deducted hourly or maybe even lower timeframes (i am not sure!) so if a shorter gets 1000 coins from you for 0.5%, but after 2 hours he decides it was not such a good idea and returns the coins to you without doing a trade -> you will still get some, but not the 0.5 % in my opinions its not worth it, but a lending market should develop, so do what you feel is best.
maybe TC can tell us all about it, he seems to know best..  They calculate the return quite often actually, I think it is in basis of minutes rather than hour(s). Usually the loan is held by for a few hours to a few days and then it goes automatically to market. What rate to lend out is based on supply vs. demand: You go to lending, look at lending offers and then find where the majority of coins are and place your order for 0.00001% below the majority. Usually you need to waite some time as someone wants to borrow your coins. The longest I've waited has been like days and the rate being the minimum. Sometimes there is absolutely no interest to short it, not even one shorter, and actually that is the usual case with XMR despite the trendline has been pretty favorable to shorters in the past. Basically what you can expect to get from lending is dust but at some point Monero dust might be more valuable than its weight in gold. You don't have to join in TC's race to the bottom lending rates. Just one day of 0.1% is equal to 100 days at 0.001%. I've made more than a couple entire XMR (not dust) lending for reasonable fees. Try to figure out what the market will bear, taking into account it's a moving target. The only reason to subsidize the shorts (IE, charge less than the max the market will bear) is if you want to keep the price down (so you can get cheap XMR for your stack). |
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But people can borrow the coins to go long as well, right? To go long people would borrow Bitcoins and then use them to buy XMR (or whatever other coin). In that case I'm guessing that if the price collapses too quickly you lose your principal. Yes if you lend out Bitcoin and people use it to buy a coin that collapses too quickly you can lose principal. None of these losses have happened so far on Poloniex afaik, but I understand there have been margin losses on some of the leveraged Bitcoin exchanges. Also, the time is pretty much now to start managing our own coins. No excuse to get Gox'd with a stable 0.9 release, MyMonero, and OS.
There is never a good time to get Goxed. Yes, always keep a stash offline, frozen in carbonite. But with your hot money, you can do fun tricks like pair trades: 1. Borrow Dash at ~0% 2. Sell Dash for BTC 3. Buy XMR with BTC 4. Profit 5. LULZ And thanks to Polo's XMR/Dash market you may be able to cut out the middle BTC step, saving some trading fees. |
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Gold is not a good idea to choose because gold price is stable.
Who told you that the gold prices are stable? Have you checked the historical prices of gold? Check this: http://www.nma.org/pdf/gold/his_gold_prices.pdfThe price of gold has increased from $19 per oz to $1,240 per oz in the 1900-2016 time period. Even if you take the recent history, gold has given very good returns. The prices have increased from $271 per oz in 2001, to $1,240 per oz in 2016. Gold is an immutable constant; it is to economics what the speed of light is to physics. If the price appears to change, that is due to a shift in your frame of reference. |
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So I have a few thousand XMR I am thinking about lending out on Polo.
I understand the risk is pretty low for a fairly guaranteed return. What rate do you think I should lend out at? I'm still a little confused on how the lending rates work.
The risk is that in an explosive price increase short sellers make take so much of a loss that they can't pay back the loan and you will lose principal. That and (compared to keeping coins in your own wallet) the risk getting Goxed. I'll let you decide for yourself whether or when that is a good deal. As far as the mechanics of how the loans work medusa13 had it right. You set the rate (daily) and the maximum term (2-60 days). If someone borrows from you they can pay back early. Otherwise you continue to get the agreed rate of interest credited to your account quite often (every minute or few minutes). No one can tell you what rate to set, since it depends entirely on market conditions. Sometimes even 0.0002% may not ever get taken by a borrower. Other times it can be 1% or higher. People devote entire careers and dedicate supercomputers to the voodoo magic of option pricing. If you enjoy solving Navier–Stokes equations in your head, you might be able to create a better optimization of the Black–Scholes model than the rest of the market Here's where to start: https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_equationGLHF  |
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They would need to register with the Financial Crimes Enforcement Network (FinCEN) once they are being transacted like a new convertible virtual currency Why? Is Bitcoin registered on FinCEN? Seriously...  Your questions were already answered in the article. If you care to read it again (this time with comprehension), you will find that Bitcoin, being created by the anonymous Satoshi, has no principles for FinCEN to have jurisdiction over. On the other hand, Classic is being created by identifiable individuals, many of whom live in the US and other NATO/FACTA countries. Please learn to read more effectively, and stop misleading people with such trivially debunked fake 'gotcha' questions. The essay was written by an actual lawyer. You aren't a lawyer, you are just some stupid-as-shit Gavinista that isn't even especially literate. The only reason you're straining at the article's well made points is that it's not pro-Classic. But the essay is factually grounded, and pretending it's all just a big lie won't help Team Classic when the TLAs come knocking. |
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Yeah, that took 5h to turn into a rtard cat fight. That was more Gavin getting his comeuppance than a cat fight. His false claims of being "ignored" by Core, etc. were promptly put to the sword. The first blocked purportedly mined by a Classic node is of no more significance than the first supposed XT-flagged one. Probably less, since we've already seen this movie and know how it ends. Spoiler: there is no plot twist at the end. The contentious hard fork loses. The first movie was decent, if predictable, entertainment but there was no real need to make a sequel. I guess the C-list Bitcoiners needed something to do because their handlers agents told them to look busy. |
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First Classic block mined. P2XTPoolP2 XT Pool - Bitcoin Mining Pool Because we want to trigger a fork to give bitcoin more capacity for transactions
Oh. Oh my. You make is sound like that block is >1mb. It isn't, being a mere ~100kb. How do you know that block was mined by a RealClassic node, rather than an indistinguishable (until too late) NotClassic one? Ironically (and self-defeatingly), Gavinistas can only bribe miners with CoreCoins to mine ClassicBlocks until the hard fork occurs, at which time the miners will only accept in-band incentives denominated in CoreCoins, as ClassicCoins are doomed to be orphaned. |
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What's this regarding block #398364? Any news?
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Things are looking good fellas. Question - Related to the forthcoming GUI release, are there plans for a Smartphone wallet? (Is that a heavy chore, specifically with XMR compared to other cryptos or roughly the same? Understanding we are not putting the blockchain on smartphones. ) Nice high-volume rally is starting. Cheap XMR are being gobbled up by the thousands, like whales feeding on plankton. AFAIK, the 0MQ RPC type stuff has created a solid foundation on which devs may build out the GUI and secure Android/iOS clients. |
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Ace of ♠
A major publication will come out with a story on Monero. Slashdot? Maybe. Economist? No, that's 2018.
Ars? Motherboard? Wired? TechCrunch? NYT? WSJ? FT? Forbes? Bloomberg? RT? Tech Review? Chip? Byte? Computer Shopper? Infowars? Reason? Popular Science? Atlantic? Newsweek? Reader's Digest? Playboy? Foreign Policy? All of the above! Maybe even CoinDesk and CoinTelegraph will realize Monero exists? |
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We saw this exact same type of concern-troll post during the XT debacle. Some noob nobody comes out and writes a long, weepy story about how Disappointed and Concerned they are with how rude [Core supporter] has been acting. So they conclude in favor of [latest Gavinista fork], "Because Offended." Oh, and don't forget "Because Sensor Ships." |
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Perfect storm for Monero: + MultiSig + GUI funded + Daily Decrypt + Peter Todd + Shen #REKT Shadowcash + ETH going crazy So awesome to see 100ks of XMR flying around on Polo. Need to get on Kraken and BTC-E too. |
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/research-lab/ isn't the main Monero repo. If ShadowTrash refuses to pay Shen for his work, I'll cover the bounty myself. It's unforgivable SDC would advertise rewards for bug hunters, then renege. So it hasnt been patched yet?! And you guys think its a good idea to attack another crypto?! Also the bounty is being paid you moron (from what I read in slack). I don't think SDC can patch this. It's de-anon'd the entire chain. Better to start over, with some good crypto. The bug doesn't exist in Monero. The Research Lab repo commit is for documentation purposes. I'm glad SDC is (reportedly) doing the right thing and paying Shen. It's a good thing they didn't listen to the "there's no problem here" hand-waving denials. |
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/research-lab/ isn't the main Monero repo. If ShadowTrash refuses to pay Shen for his work, I'll cover the bounty myself. It's unforgivable SDC would advertise rewards for bug hunters, then renege. |
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XTnodes released a block explorer highlighting blocks supporting BIP101 among the last 1000 blocks. It includes other information like where the blocks were mined as well as what percentage BIP101 is among the most recent 1k blocks. I hope they got decent hosting to sustain traffic/DDoSing. http://www.xtnodes.com/bip101_block_version_explorer.htmlDid anyone ever mine a >1mb XT block? No? I'm shocked. It seemed like such a popular idea! Oh well, better try again. This time with Classic... |
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