Some selling into that huge bid wall on Huobi, but it just keeps on absorbing. Went from 2000 to 15xx, was sitting around 1600 for a while just now, and a few hundred were just added so it's now 1950. Wall man wants us to go up?
From your description of the events, I would say that wall man wants to buy. |
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Who is proposing to leave the transaction cap alone (retain blocksize limit in 1MB), and why? (Where is the battle line?  )
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Does that mean you are going to force people who do not want to be controlled by this computer to move elsewhere? Or can they stay where they are and live by their own rules? Is this a purely voluntary system? Opt-in, opt-out when you want? Abide by the computer's decisions when you want, don't abide by them when you don't? Or will there be an enforcement mechanism? If so, how do you enforce the rules?
Hard to believe he can mean serious with that idea. |
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And this coin is starting to lose it's appeal. At least for me. Especially with the blatant manipulation by a few large holders.
The only "blatant manipulation" I am able to see, is some large and small holders buying low, selling high, and making swing trading very difficult for those who usually participate in various pumps and dumps. If this is your accusation, I am proud to be part of it - if it is something else, shoot! During its history, Monero has had perhaps the narrowest range in which trades have happened: 82% of all trades have happened between 0.002 and 0.006! Again, if it is unappealing that the coin has solid value, I am sorry we'll continue to disagree. |
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What is the fully diluted market cap at present?
(18.4 billion * coin price)
It's 1.84 billion total. Half mined after 10 years. I don't feel including the 2nd half is important, but understand you may be thinking very long-term. BTC0.0000668 * 1840000000 XCN = BTC122,912Okay even if we include the 10 years only, BTC60k sounds a little steep, about the price of Monero. |
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What is the fully diluted market cap at present?
(18.4 billion * coin price)
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- Please no begging in this thread. Everyone who receives the money is trying hard to find deserving recipients from the people he knows and interacts with. If you are a beggar and have not contributed anything to the forum, and nobody, who has even the chance to receive some of this money at some point, is your friend, then I would exhort to start learning (and making friends). It is free, and makes your life much better in the short and long run.
I would like to reiterate this point. Even though many in this thread give money to others, they only give to people that they know beforehand. Instead of begging to receive money from strangers, you should learn, contribute, and make friends. i dont understand the OP and i dont begging .. just need of money if you help would be appreciated. I have already given 10 BTC to my friends. I don't have any more to give. Try to ask somebody to explain the OP to you. |
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- Please no begging in this thread. Everyone who receives the money is trying hard to find deserving recipients from the people he knows and interacts with. If you are a beggar and have not contributed anything to the forum, and nobody, who has even the chance to receive some of this money at some point, is your friend, then I would exhort to start learning (and making friends). It is free, and makes your life much better in the short and long run.
I would like to reiterate this point. Even though many in this thread give money to others, they only give to people that they know beforehand. Instead of begging to receive money from strangers, you should learn, contribute, and make friends. |
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How about a 10-line summary on why cryptonite is good and why I should buy it?
CHALLANGE EXCEPTED! 1) Hero Member BitFreak is project lead and provides active support in [ANN] thread 2) well planned R&D plus month-long testnet phases ensured fairly smooth launch 3) 100% open source available since testnet began 4) 0% premine 5) builds on proven standard BTC client with technology suggested by BTC core devs (gmaxwell) 6) mini-blockchain radically improves BTC scalability (Holy Grail of pruning) 7) mini-blockchain minimizes full node footprint to point of being able to run on smartphones (with more entropy/security than PoS or SPV)  innovative proof-of-work seems GPU and ASIC resistant 9) sane emission rate strikes excellent balance between rewarding/incentivizing early adopters and encouraging widespread distribution 10) reviewed positively by cypto-guru AnonyMint and immediately trading on bter (thanks to thorough testnet phase) - How many devs? Who? - When launched? - How exactly is emission schedule? - What algo? - Quotes from AnonyMint posts?  |
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also: a higher fee for bitcoin just means, that a new market opens up: one for other coins which do what the pissed-off users demand. e.g. really fast transactions of small amounts, etc.
If transacting is prohibitively expensive, then Bitcoin might lose users, and the resulting loss of adoption turn to loss of network effect, vicious circle, etc. So it is not trivial to let the fee shoot up, but we are well on the safe side with sub-$1 fees. Like I said a week ago, in very few applications, is the total transaction cost less than $1 anyway even if the "handing money" part were free (as is the case with cash). |
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How about a 10-line summary on why cryptonite is good and why I should buy it?
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Many things are difficult, but that shouldn't be difficult at all: miners just include transactions that pay the most (if space is limited) or that pay minimum X bits, X being defined by the miner, (if the space is not limited). THAT'S IT!
But what about when blocksize is too small that the fees become high lowering BTC's usefulness as a cheap payment system. I am not in favor of artificially reducing the blocksize. But if the technology (storage space, propagation speed of blocks etc. similar factors) demands it, then I believe typical transaction fees in the $1-$2 range (50 times higher than now) won't kill it, ie. the Bitcoin's unique characteristics of a secure store-of-value ledger are unaffected even if the transactions were more expensive. |
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On the island of Libertopia we buy real estate with Bitcoin, lattes with Cryptonite, and party supplies with Monero. Cool
Where do you get your electricity? How do you get there without roads One possible way to see how electricity, heating, food etc. can be produced locally, is to observe the rise of Malla Castle. I am just having a project of the main building completely direct wood heated. During the heat wave (34C) I realized that inside it kept 24C. Many things actually can be produced without government |
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Many things are difficult, but that shouldn't be difficult at all: miners just include transactions that pay the most (if space is limited) or that pay minimum X bits, X being defined by the miner, (if the space is not limited). THAT'S IT!
That was implemented years ago and has nothing to do with a floating fee. Miners today can set a min fee amount, a block size, and they order txns by fee and include the top x which will fit. Ah, please tell me what is a floating fee then? |
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Since I was busy and did not read full premise I have deleted my above post, sorry Risto for not following rules. And with some free time and reading this is a great concept.
I give 0.25 to joesmoe and 0.25 to Gweedo because of the work they do at CC and the fact that if they donate to others they know more people supporting and building more to BTC than I do, and thus would hit more worthy individuals.
I don't want to be harsh, but since this is a new concept and people (me topmost) have the tendency to write before reading, it must be expressed very clearly so that it is almost ridiculous. (Well, the concept is ridiculous for outsiders...  ) Do you know if they have the same nick here? Remember to link them to this thread! |
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Monero to 0.1 when?
I think this (and beyond) is very likely if BTC loses steam. Monero has solidified its position as the #2 coin (note: shares don't count), and it is the natural successor. The scenario that would dethrone BTC, is its lacking privacy, and XMR has fixed exactly that. Without problems with BTC, I think the network effects favor that one so that 0.1 is a little too ambitious for Monero, similarly as Litecoin has never reached better than 0.03 except for a moment. |
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Moderator comment: The idea of this thread is that I could express my findings of Monero economics to interested readers, free of empty talk. So I will delete the offtopic comments if needed.
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Many things are difficult, but that shouldn't be difficult at all: miners just include transactions that pay the most (if space is limited) or that pay minimum X bits, X being defined by the miner, (if the space is not limited). THAT'S IT!
You are assuming a functional fees market exists. This is not yet the case. Most miners are simply selling hashing power into pools. Basically, only a handful of pool owners can define X, and they don't want to constantly play with variables. They want to set up an optimized mining operation and let it run. In that case, defining "X" is not needed at all. You just always take the best paying transactions, regardless of how much they pay. ("X" is for artificially restricting supply to extract more fees, and completely unnecessary.) block size limit is simply too small for Bitcoin to maintain reasonable growth, and it will hit a bottleneck just trying to process normal business.
If it's about 260,000 transactions per day, it is indeed too small. If it can be increased, I favor increasing. And also setting in stone the increasing schedule so that no further vote or community decision is needed ever concerning this matter. |
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Many things are difficult, but that shouldn't be difficult at all: miners just include transactions that pay the most (if space is limited) or that pay minimum X bits, X being defined by the miner, (if the space is not limited). THAT'S IT!
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