Monero is a small coin, so many of the developments can happen in small cliques unbeknownst to the general public, yet be very important.

"XMR community", like any community is not an everyone-knows-all entity.

Follow my posting

I compiled it myself. There were really only 3 sources and 102 days. It took maybe 2 hours. I am not giving that info out for free currently.

I have not done the similar calculation to any alt, or even BTC for that matter.

Why is the floating transaction fee not implemented already?

(iow: why centralization?)

Would you rather have this:


or this:

,

OR first have 5 or more people experience THIS:


AFTER WHICH, you can still have the first and the second!

--//**//--

Money does not extinguish itself. (Money extinguishes debt without generating new debt; thus fiat is not money, but this is just a tangential issue here, because in gift economy there is no debt.) Therefore, to generate happiness by means of money, it does not matter how much money you have, because it is not consumed in the process IF you can make such a process where it is not consumed.

Research shows that money increases happiness in multiple occasions (results are statistical, and as such do not apply in every single case):

EARNING money increases happiness.
SPENDING money increases happiness.
GIVING money increases happiness.
RECEIVING money (impersonally, without connection to your effort or the giver) DOES NOT increase happiness.

It should be very easy to increase happiness, just by sending some money circulating so that people would receive with connection, gaining some happiness, and then give, and spend, and gain more happiness. It would just go on and on.

Mathematically, if in each round, X% of the money is withdrawn from the circulating pool, the total amount gifted until the pool runs dry, is (original amount)/X.

Therefore, when we approach the point that people withdraw only small amounts, like 20%, 10% or 5%, or nothing at all, some magic happens: the original 10btc donated is multiplied to 50 or 100 btc, making much more people happy and empowered than could otherwise be the case. All the money in the pool is spent (happiness * 10btc), but in addition it is given 5-10 times (happiness * 50-100 btc). Furthermore, because a myriad of people have been able to decide (one at a time) concerning the spending, the money will likely be spent in ways with very high marginal utility. Totally unlike if I tried to spend my money in good people or good projects, because I have no way to evaluate them. Or the government, which is much more miserable than I.

But, organized charities suck the money from the people in a similar way as governments. The aims are much better, but the means not much different. It is not an organic way of doing things. You get the joy of giving, that is correct. But there the cycle ends. The recipients of the aid are not any happier (don't blame me saying so, it is research). They don't get to earn, spend, or give. It is spoonfed to them.

Also, as I wrote in the introduction of this post, if you have a pet project that needs funding, please consider that everyone has pet projects: if your judgement is that your project is so important that it deserves all the money, you are wrong. The marginal utility of money is such that someone further down the line, definitely has a pet project that could utilize a part of the money more efficiently than you. If you are such a big honcho that you don't take the time to find people to give a part of the money, why do you even have unfunded needs 

In general, people who say that their project is so important that its marginal utility and internal rate of return is higher than anyone else's, are wrong. If they even understood what they are talking about, they would have become rich beyond imagination by investing in their own project long ago.

And after it emerges to the people who have been blessed beyond their needs in their business or investments that, instead of withdrawing from the pool, they can donate some more to it, then we have a perpetuum mobile: The pool never runs dry, there is complete accountability with who gives and takes money and for what purpose, and nothing is ever decided by a community vote or any political and corruptible method.

- If you are a wealthy and magnanimous guy, this method gives you praise and adoration (unlike the current tax system which extracts the money out of you at gunpoint, and treats you as a criminal).

- The people in the middle, the ones connected in the society, are empowered much beyond any previous system. Large sums move through your hands and you get to allocate them to your needs if you suddenly have any, projects that need to be forwarded, and less fortunate people whom you personally know are good and honest. Since the middle class historically pays the most taxes, it is possible that these people will also want to be net contributors. 

- The poor guys learn the magic of money: the more you let go, the more it comes to you. If you are an all-sucking mouth that keeps all the money that others put in, you realize that soon they will not want to feed you so much. If instead, you keep the necessary minimum to yourself, and give the rest to those even worse off, soon you will not only receive more money, but also need less of it, and actually both you and your friends will soon not be poor at all.

I have been shrewd but not stingy. I have walked instead of bought a discounted bus ticket to save $1-2. But also several times donated 5-10% of my entire net worth to charities, including last year. I have been there, all the way.

This text is long, and there is no TL;DR because the concepts presented are so new, and even understanding what I am after, will require reading it again and again (for most).

--//**//--

This one is just the first one. And we learn what works and what doesn't. I will amend some terms in the OP now. Since no money has yet been sent, it is still possible to change your previous decision, unless the recipient person has already taken the money. Changes:
- Donations to people outside bitcoinworld are counted as your personal spending. The reason is that they are dead ends, and we cannot enforce them to report here how happy they are, and also they cannot give the money on, even if they don't need it.
- Donations to charities or any nonpersonal entities are personal spending.
- All personal spending (incl giving to Mum, or Monero development, or going to beer with friends and telling them how great Bitcoin is) should be documented with reasonable precision, such as David is showing upthread.
- If you have received 200mBTC or more, you must give to at least 2 different BCT members, other than yourself, at least 50mBTC each
- If you have received 100mBTC or more, you must give to at least 1 BCT member, other than yourself, at least 50mBTC
- Every gift has to be at least 50mBTC

It is OK to reject the gift, but if you spend it carelessly, then I will not give you more later, and hopefully the others don't, either.

I know, I know. The initiative is like what - 36 hours old now. And none of these have been so called "office hours". And it is the holiday season. In everywhere else in Europe, you get 14-30 DAYS (not hours) payment terms, and then it is customary to pay late.

So please do not be anxious if my gift does not come the second you want it, although it is my intention to transfer as soon as possible. To make everything accountable, othe is doing the actual work of sending the money, and he has not even gotten it from me yet.

Btw. If anyone else holds a grudge towards me for my debt that I haven't paid (I don't ever take debt, so I don't have a routine of paying them back either), please list it here.

I feel I have to say this...

Please consider also the intention outlined in the OP: to keep the money that you need, and find a person (/people) to give the rest to, to put him in the similar position, for a happy BTC circular donation.

Trying to find charities, so that the movement of the money would stop right there, is against the idea, and robs many rounds of people the joy of receiving, and the chance of deciding to whom the money should go next.

So please everybody, read the OP again, so that you get the idea

Hi! Now some have decided to keep some bitcoins, so othe can you provide the address where I can send this 10,000mBTC to? (The payment is outsourced to make it faster and more reliable).

Thank you. It is good to be reminded of these realities every once in a while

Oh lol, the current numbers are like:

Adoption = 8,000
Average = 800.

So much less than those of LTC. I agree that we are going up

Ok.

You understand that Adoption * Average equals market cap. And LTC market cap is in a downtrend, meaning that the values are currently not getting bigger but smaller.

I calculated that if the "crime" started from the beginning, lasted for 20 days, coins were generated at half price, hashrate was 43% of that of the rest of the network combined, and the coins were sold in the end of the period, the proceeds of the "crime" were $75k.

If the coins were sold asap, it is only $30k...

If it was a scam from CN developers, I think they expected better upside

In that case we are talking like $500 in damages...

1. I am very much for a fair launch, unfair launch is a dealbreaker when I invest.
2. $500 is the least unfair launch in all of history.

Actually I decided to count it as a donation from you, as you can see in the OP.

It was yours before giving it to the development. David decided to buy some coin with half of his share. Perhaps that is exactly what Monero needs - lead dev having some more coins 

Thank you for selecting these outstanding community members as the recipients! I thought about both of them but cypher missed the initial recipient list by a close call, and Goat is permanently banned from this forum, which gives practical challenges. Perhaps we can forward his decision from CryptoCrypt and execute it here...

I hope you will enjoy your honorary duty of informing them both that they have become objects of your good fortune with the 1 week time limit 

Sure. It will be listed that you kept it all, for the purpose of donating it to Monero. (I have the feeling that I am a greater beneficiary of Monero's success than you, so I should not be entirely sad that the chain did not continue on your part..)

Everybody is free to form an opinion about what is untowardly or not.   

Very good, David

Can we have the bitcointalk nicks for the 2 other people except you. Otherwise it is difficult to follow what they do with the money.

That was a lame and repetitious reply. qfp.

It seems that I must quantify the damage done by the unintentional, and promptly corrected, hash function:

0.5 * 0.3 * 25k * 20 = 75,000 XMR == 75 BTC.

=> I have to say that I have seen larger unfairness in my life.  

I am happy, because I am so blessed with all good things in many spheres of my life.

To share the goodness, I have decided to give away 10,000mBTC.

I am aware that many of these people whom I highly appreciate and want to honor by giving them money, are themselves not needy people. On the other hand, I am not knowledgeable of deserving recipients who would actually make use of the money. Nor is it possible or would feel good to me to organize a general giveaway, doling out money to strangers. The government already does that with miserable results.

So I decided to give this money to 9 of my friends or acclaimed acquaintances, with the following caveat:



You want to read more of the vision? Do it here



Magnanimous Benefactors
rpietila.............................10,050mBTC
Sword Smith....................2,000mBTC
NewLiberty.........................1,000mBTC
vokain................................1,000mBTC
othe................................1,000mBTC
Goat.....................................500mBTC
uvwvj...................................500mBTC
aminorex...............................400mBTC
vokain..................................300mBTC
BitchicksHusband...................300mBTC
RyNinDaClem.......................200mBTC
Otoh...................................100mBTC
aleks648..............................100mBTC
frienemy.................................50mBTC
pinksheep..............................50mBTC
valparaiso.............................50mBTC


Happy Recipients
AnonyMint..........................2,000mBTC He feels this is best used by him, being able to concentrate in coding while continuing small philantropy in the community where he lives. PAID
fluffypony...........................1,000mBTC Sum will be donated to Monero donation address. Monero is financed solely by donations. PAID
aleks648..............................825mBTC help fund his Bitcoin related startup Xbterminal (xbterminal.io), it allows local shops/bars/restaurants to easily accept Bitcoins via NFC
BitchicksHusband...................700mBTC Will be used in BitChick's mission trip in India.
vokain..................................700mBTC sow some seeds for universal love and peace, tending them so that we soon fruit more seeds (I'll be sharing those later on ) PAID
aminorex...............................600mBTC for a project outside of bitcoin
cypherdoc.............................500mBTC donating 100% of the sum to Armory Simulfunding Project, where it is matched by Armory
gweedo.................................250mBTC spent as micro-donations to several high-leverage projects
JulieFig...............................100mBTC giving the whole amount to Husband to pacify him for her unfortunate (so far) entry point to Bitcoin
Frozenlock............................100mBTC spends it wisely
frienemy...............................50mBTC hosting a bitcoin meeting
pinksheep..............................50mBTC

Awaiting decision
David Latapie...................1,000mBTC (rpietila) Monero developer
rpietila.............................1,000mBTC (Sword Smith)
Pruden................................500mBTC (Sword Smith)
bSpend................................500mBTC (Sword Smith)
joesmoe..............................250mBTC (uvwvj)
AnonyMint...........................200mBTC (aminorex) in recognition and support of his earnest effort to forefend evil
gbianchi..............................100mBTC (aminorex) in recognition of his analytic initiative
JorgeStolfi...........................100mBTC (aminorex) to annoy him
webbsy..................................75mBTC (othe)
GameKyuubi..........................50mBTC (frienemy) for coining the word "HODLING"
bitcoinsrus.............................50mBTC (pinksheep)
Goat.....................................50mBTC (Otoh)
Carlton Banks........................50mBTC (rpietila)
siulynot................................50mBTC (myself)
bengtåke..............................50mBTC (aleks648)
boristhespider........................50mBTC (aleks648)
catcow..................................25mBTC (valparaiso)
Onefixt.................................25mBTC (valparaiso)

Rules (changes/additions in blue):
- You will be listed in the table of Magnanimous Benefactors for the sum you have given to other bitcoiners.

- You will be listed in the table of Happy Recipients for the sum you have kept (including given to any other person or cause).

- Magnanimous Benefactors' table will hopefully be much larger, because same money can be listed there multiple times, but kept only once.

- When you are given money by someone in the chain, you must post to this thread in 1 week, what you want to do with the money. If you keep some of it, please specify how it made/will make you happy, and post your Bitcoin address. If you give some or all of it on to other people, list the nicks and amounts and inform them yourself by PM so that they come to redeem the money on time. If no response happens in 1 week, the money reverts back to the giver (previously: me). Note, you must decide the fate of all of the money at the same time, and post the verdict in 1 week.

- To ensure that this goes on a little longer (after all, it is the first experiment), if you receive 200mBTC or more, you must give at least 50mBTC to at least 2 other people in bitcoinworld, also if you receive 100mBTC or more, you must give at least 50mBTC to at least 1 person; if you are not willing to do this, the whole gift reverts to the giver.

- othe has volunteered to make the Bitcoin payments. Once you decide to keep some of the money, it will promptly and publicly be sent to you.

- You are absolutely free to keep all the money (except the minimum of 50-100mBTC that must be given forward, applies to you if you receive at least 100mBTC) or to pass on all the money. All decisions just have to be made publicly, and your reputation will be reinforced by your magnanimousness. If you think that this scheme is ridiculous, you can also reject having anything to do with the money by saying so (it reverts to the giver, similarly as if you don't reply in a week).

- It is possible to send money back and forth, just that in the end somebody has to keep it and become happy as a result.

- A sum of less than 50mBTC may not be donated, but must be kept. Therefore, if you receive strictly less than 100mBTC, your choice is only to give the whole of it to one person in BCT, or keep it all.

- 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.

- All kinds of praise towards fellow bitcoiners absolutely belongs to this thread. This is a happy thread where everyone is happy!


Done

rpietila............................10,050mBTC
AnonyMint........................2,000mBTC (rpietila) the single most important coin developer in the world, and hated for it
fluffypony........................1,000mBTC (rpietila) Monero developer, fine guy
NewLiberty.......................1,000mBTC (rpietila) I feel I have so much in common with this guy
vokain.............................1,000mBTC (rpietila) I am impressed of his kind heart
BitchicksHusband..............1,000mBTC (rpietila) Bitchick is such an inspiration, it is biblical to give through brother though
aminorex.........................1,000mBTC (rpietila) He advocated Monero to me, and one of the best analysts of BTCspace
othe................................1,000mBTC (rpietila) Monero developer
Sword Smith....................1,000mBTC (rpietila) this is an outstanding and smart guy from Denmark
cypherdoc...........................500mBTC (NewLiberty)
Goat.................................500mBTC (NewLiberty) for inspiring the CryptoCrypt.org as the successor forum, so much more that he has done to promote Bitcoin, and the Bitcoin society
uvwvj..................................500mBTC (Goat)
gweedo..............................250mBTC (uvwvj)
RyNinDaClem.......................200mBTC (vokain)
JulieFig...............................100mBTC (BitchicksHusband)
frienemy.............................100mBTC (BitchicksHusband)
pinksheep...........................100mBTC (BitchicksHusband)
myself..................................100mBTC (RyNinDaClem)
Frozenlock............................100mBTC (RyNinDaClem)
valparaiso.............................50mBTC (myself)

Please answer the question. I am not here to argue, but to quantify the unfairness against that of other coins.

Fluffy demonstrated already that none of the current dev team were even involved with the coin when it was already trading in an organized way in the OTC. So any unfairness in mining can be quantified by:

%reduction of cost * %of network * daily supply * #of days.

This works out to a meager percentage of total coins, with even more meager value. The value is important because the coin was trading when all (supposed) unfairness happened, so to gain an equal footing with the unfair person, you only needed to buy the coins at the then (low) price.

Is it also unfair that I have bought a large stash of coins with the money that I unfairly earned with BTC, and prior to that, silver, and prior to that, working hard in the fields?

With Monero, because of its high inflation relative to existing # of coins, the market is quick to decide what is sustainable and what is not. Hence a very stable price that's oscillated only inside 1 order of magnitude, and centered around 0.00426, which is the price even as we speak.