Wtf are you even talking about? It's up +27.4% from yesterday.

Above 1,000 there will be a new category per each 1,000 and they will have several crates of Diamonds + perhaps some extra.

1 XMR is worth 1 XMR   

The value required for securing should be proportional to the value stored, in other words a constant %-age, irrespective of value.

If all balances are directly and proportionally reduced, it is deflation. But it does not matter since it is applied to all equally. If a corresponding number of coins is generated elsewhere to be used for some purpose, it is inflation. Taking both into account, it equals a tax or a fee.

How much is required to secure the chain?

Also - have we discussed the theoretical issue of levying fees for balances, since it's mainly the security of balances we need to protect, and not so much the security of transactions. (The easiest way to levy a fee on balance is naturally the creation of new coins, diluting all balances).

Okay. Are there other proposals that enjoy any support with the devs?

[perpetual debasement] Can somebody summarize the proposals that have gained enough support to have a chance to be implemented?

I think honor is enough for kyu grades. For Dan levels, you should contact the treasurer in advance and he will give you something that resembles a satoshimessage (or whatever that identifies you).

Please the ones who already donated, post your sum and donation day. Earliest date takes preference in the listing order, and the sum of your all donations count towards a level.

They are not guesses but the outcomes of the mathematical fitting procedure, and as such they are true to the given parameters.

Only the parameters are guesses.

This has been moved --> to a new thread <--


----------------------------old----------------------------
"Dear sirs,

Monero is on its way to becoming the #10 coin in the Coinmarketcap list. For me it is the #2 coin already, since apart from Bitcoin, it is the only coin that I have ever bought. When thinking about the community, I have been getting the feeling that it is already, or at least soon becoming the second-strongest coin by the quality of members. It is astonishing how many of the most astute people in this forum own Monero, even though they hold very few altcoins in general.

The coin has had absolutely no premine, instamine or ninjamine. It is still only about 11% mined, and most of this time it has been listed in an exchange. Never was there an opportunity to - even legitimately - mine huge stashes of the coin. The developers have not had any frontrun. Now as it is clear that the community is waiting for them to deliver several things that cost money, it is easily forgotten that the Monero devs do not have the luxury of premine that all the other altcoins can tap into. They are working for free, and paying the costs out of pocket.

Brothers, this can not continue!

This thread's purpose is twofold:
- To raise money for XMR development;
- To publish to the cryptoworld the extent of XMR adoption.

By donating moneros to the development fund, you will be listed here. The names listed will inspire awe in all the other coin owners, as they see that the Monero community consists of the top talent of cryptoworld.

Donations for general development

XMR: viewkey: e422831985c9205238ef84daf6805526c14d96fd7b059fe68c7ab98e495e5703

BTC:

There are no large holders, who could bear the burden alone. Everybody is invited to join. I suggest that if you own XMR and read this, you would join the list by donating an amount that is approximately 1% of your XMR stash, or less since you can donate more later. Then reply to the thread with the amount and I will list you under the appropriate category.

I hope the devs and hero members would soon come up with the practicalities, concerning:
- Full disclosure of the use of funds;
- What to do if the fund's value grows disproportionately so that it is threatening the development more than helping it.


...and here is the Eternal Table of Glory for those who secured the success of



Donators of 1,000 XMR - 6th dan monero superheros with 1 crate of Diamonds

smooth 2014-04-29


HardwarePal 2014-07-17 (5th dan: 2014-06-30)


Donators of 500 XMR - 5th dan monero superheros with piles of Rhodium

Donators of 200 XMR - 4th dan monero superheros with bars of Platinum

kbm 2014-05-06
rpietila 2014-07-16


Donators of 100 XMR - 3rd dan monero heros with coins of Gold

GreekBitcoin 2014-05-11
Quanttek 2014-07-15
dnaleor 2014-07-17 (1st dan: 2014-05-03)
darlidada 2014-07-17 (1st dan: 2014-06-11)
shitaifan2013/drfred 2014-07-17

Donators of 50 XMR - 2nd dan monero heros with a stash of Silver

saddambitcoin 2014-07-01
superresistant 2014-07-17
perl 2014-07-17

Donators of 20 XMR - 1st dan monero heros with a hoard of Copper

David Latapie 2014-04-29
hodlmybtc 2014-07-01
monoman 2014-07-11
Shrikez 2014-07-11
Jshank 2014-07-16
dreamspark 2014-07-17
IntroVert 2014-07-17
dawie 2014-07-17
cAPSLOCK 2014-07-17
statdude 2014-07-17


Donators of 10 XMR - 1st kyu monero supporters with a bale of high quality hygiene paper

nakaone 2014-07-15

Donators of 5 XMR - 2nd kyu monero supporters with a wad of U.S. dollars

celestio 2014-07-16
znaky 2014-07-17

Donators of 2 XMR - 3rd kyu monero supporters with a holding of Goxcoins

Nekomata 2014-07-17
jwinterm 2014-07-18*

Donators of 1 XMR - 4th kyu monero supporters with a bag of Darkcoins

myagui 2014-07-17

I was checking the poloniex accounts and estimated how many of them have bought XMR.

Do you think the largest holding is realistic? It would have to be a guy that we know. Myself, I don't have nearly that many

You could not be more wrong. During the unfettered fiat standard (1971-), the by-far-the-most-glorious-and-economically-strong-empire-the-world-has-ever-seen has reduced itself to a miserable leech, a cancer to the world's economy, destroyed its productive capacity, essentially producing almost nothing that the rest of the world wants, utterly dependent on extorted energy and finished goods from the rest of the world, with half of the middle class already destroyed, youth unemployment soaring etc.

I could not have envisioned a better way to reduce the land of the free and home of the brave to its current wretchedly pitiable state than fiat money.

Dear sirs,

I made some calculations on the distribution of XMR balances using the same methodology that I use in BTC wealth distribution calculations. Please refer to the link for methodology.

- I use 1 XMR as the cutoff grade since it is a nice round figure and its value is reasonable to be the lower threshold of what can be considered an investment.
- Other than the cutoff, there are the parameters that specify the:
  * largest holding;
  * number of holders;
  * j-value ("wideness" of the distribution);
  * to which extent power law applies to the high end (increasing the number and share of large holders).

To compose the result, we need to set the parameters. With any coin, especially XMR which is anonymous, it is impossible to know the parameters. So they must be estimated. The laws of statistics and the law of large numbers dictate that the actual holdings between the endpoints do conform to the calculated result, if the endpoints (parameters) are estimated correctly.

Estimate 1:

Parameters:
- Largest holding: 100,000 XMR
- number of holders: 6,800
- j value = 0.58
- power law: no

Results:
10,000 or more: 23 holders
1,000 - 10,000:   435  <=half of the XMR are owned by this group
100 - 1,000:    2,300
10 - 100:    3,000
1 - 10:     1,050.

Questions, comments, what parameters to change in order to get a more realistic calculation?

Listen, this is important:

If there is a sustained increase in the value of money, it must result from the economy sustainably growing more than the monetary base. This is not terrible long term. It is simply that everybody gets richer:
- savers get richer, since they can buy more even without interest on savings
- producers get more richer, because otherwise they would be saving instead of producing.

And the fact that the economy is growing more than the money supply, must stay in force. Otherwise it is no deflationary environment any more.

Therefore, "deflation" (sustained decrease of general price level) is always good and never bad. It is a market phenomenon that tells the society that "guys, we are doing good!"

Sorry I did not find the economics thread anymore..

Ripple is not a crypto. So please let's not have a discussion on them, any more than we have concering Paypal or Zimbabwe dollars.

^---- I suggest everyone should use this way of expressing their XMR/BTC ratio. ----^


(The alternatives, such as "1% in XMR" are misleading, reliant on the exchange rate etc.)


=> Just the pure "how many XMR per BTC" tells it all

I have in between 1-5 XMR per BTC, so I am slightly overweight.

The 75/25 ratio someone suggested, would at this price equal 100 XMR per BTC.


* * * *

Wow, I think the rally has more legs!  

(Currently everybody cannot buy 100:1 leverage, because the coins outstanding is 0.15:1....)

Directly, of course. Show me a coin that is even near this ideal, I have a unicorn for sale. I could set up a miner and earn $20 per month, expending only $30 in electricity, except I couldn't (I can't even delete a file). The economies of the coins need people like me so the way to purchase them with existing stored value must always to be available

I argue that the bolded part falls apart in the equation I = N * A, (inflation = number * average), though. Which is a pity:

To have a coin with manageable inflation, the product of the number of individual miners and their average reward must be contained. Therefore there is no incentive for anyone capable to become a miner, and the ones not capable.. well, they cannot.

Technically and economically astute people have a high minimum transaction cost in their life. $20 per month is not enough. The ones who drool over the idea of receiving $20, are not in the position to get even that If they were, the formula above would take it to $2.


Pump and dump is associated with premine. You cannot pump and dump a coin such as XMR in its present form with a robust inflation of 1.1% per day.

As for the supposed fall in adoption rate, I don't think you have been proven right yet and eagerly wait that the smashing to $5-$10 will get us back to the high end of the exponential(logistic) range channel.


Get behind me, Satan!

Going for 10% means 1.1^100 = 13,781 times higher coincount after a century. Even USD has mismanaged its issuance by only 6.5% per year on average for the last century. What differentiates hard currency from soft is that inflation is kept at check.

Even the idea of having double the amount of coins in 100 years is worrisome/preposterous to many. And that is only 0.7% inflation.



See PM.